Document:

EX-10.18

 Exhibit 10.18 

INDEMNIFICATION AGREEMENT 
 THIS
AGREEMENT (this “Agreement”) is entered into as of             , 2014 by and between Aspen Aerogels, Inc., a Delaware corporation (together with its subsidiaries and
affiliates, the “Company”), and the person identified on the signature page hereto as the “Indemnitee” (the “Indemnitee”). 

Recitals: 
 A. The Delaware courts
have recognized that indemnification by a corporation serves the dual policies of (1) allowing corporate officials to resist unjustified lawsuits, secure in the knowledge that, if vindicated, the corporation will bear the expense of litigation
and (2) encouraging capable women and men to serve as corporate directors and officers, secure in the knowledge that the corporation will absorb the costs of defending their honesty and integrity. 

B. The number of lawsuits challenging the judgment and actions of directors of Delaware corporations, the costs of defending those lawsuits, and the threat to
directors’ personal assets have all materially increased over the past several years, chilling the willingness of capable women and men to undertake the responsibilities imposed on corporate directors. 

C. Under Delaware law, a director’s right to be reimbursed for the costs of defense of criminal actions, whether such claims are asserted under state or
federal law, does not depend upon the merits of the claims asserted against the director and is separate and distinct from any right to indemnification the director may be able to establish; and indemnification of the director against criminal fines
and penalties is permitted if the director satisfies the applicable standard of conduct. 
 D. Indemnitee is a [director/officer] of the Company and
Indemnitee does not regard the protection available under the Company’s Certificate of Incorporation, By-laws and insurance as adequate in the present circumstances, and may not be willing to serve or continue to serve as a [director/officer]
without adequate protection; and the Company desires Indemnitee to serve in such capacity. Indemnitee’s willingness to serve in such capacity is predicated, in substantial part, upon the Company’s willingness to indemnify him/her in
accordance with the principles reflected above, to the fullest extent permitted by the laws of the state of Delaware, and upon the other undertakings set forth in this Agreement. 

E. Therefore, in recognition of the need to provide Indemnitee with substantial protection against personal liability, in order to procure
Indemnitee’s continued service as a [director/officer] of the Company and to enhance Indemnitee’s ability to serve the Company in an effective manner, and in order to provide such protection pursuant to express contract rights (intended to
be enforceable irrespective of, among other things, any amendment to the Company’s Certificate of Incorporation or Bylaws, any change in the composition of the Company’s Board of Directors (the “Board”) or any
change-in-control or business combination transaction relating to the Company), the Company wishes to provide in this Agreement for the indemnification of and the advancement of Expenses (as defined below) to Indemnitee as set forth in this
Agreement and for the continued coverage of Indemnitee under the Company’s directors’ and officers’ liability insurance policies. 

 Agreement: 

NOW, THEREFORE, in consideration of the premises and the covenants contained herein, the Company and Indemnitee do hereby covenant and agree as follows: 

1. Agreement to Indemnify. To the extent permissible under applicable law, the Company agrees to indemnify Indemnitee as
follows: 
 (a) Subject to the exceptions contained in Section 2(a), if Indemnitee was or is a party or is
threatened to be made a party to any Proceeding (other than an action by or in the right of the Company) by reason of Indemnitee’s Corporate Status, Indemnitee shall be indemnified by the Company against all Expenses and Liabilities incurred or
paid by Indemnitee in connection with such Proceeding (referred to herein as “Indemnifiable Expenses” and “Indemnifiable Liabilities,” respectively, and collectively as “Indemnifiable Amounts”).

 (b) Subject to the exceptions contained in Section 2(b), if Indemnitee was or is a party or is threatened to be made a
party to any Proceeding by or in the right of the Company to procure a judgment in its favor by reason of Indemnitee’s Corporate Status, Indemnitee shall be indemnified by the Company against all Indemnifiable Expenses. 

2. Exceptions to Indemnification. Indemnitee shall be entitled to indemnification under Sections 1(a) and
1(b) in all circumstances other than the following: 
 (a) If indemnification is requested under
Section 1(a) and it has been adjudicated finally by a court of competent jurisdiction that 
 (i) in connection with the
subject of the Proceeding out of which the claim for indemnification has arisen, Indemnitee failed to act in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Company; 

(ii) with respect to any criminal action or proceeding, Indemnitee had reasonable cause to believe that Indemnitee’s conduct was
unlawful, Indemnitee shall not be entitled to payment of Indemnifiable Amounts hereunder; or 
 (iii) on account of any claim or
proceeding against Indemnitee for an accounting of profits made from the purchase or sale by Indemnitee of securities of the Company pursuant to the provisions of Section 16(b) of the Exchange Act (as defined below), or similar provisions of
any federal, state or local law, provided, however, if and when Indemnitee ultimately establishes in any such proceeding that no recovery of profits from Indemnitee is permitted under Section 16(b) of the Exchange Act or such similar provision
of any similar federal, state or local law, then, notwithstanding anything to the contrary provided in this Section 2(a)(iii), indemnification pursuant to this Agreement shall then be permitted; 

(b) If indemnification is requested under Section 1(b), and 

(i) it has been adjudicated finally by a court of competent jurisdiction that, in connection with the subject of the Proceeding out of
which the claim for indemnification 

  
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has arisen, Indemnitee failed to act in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Company, Indemnitee shall not be entitled to
payment of Indemnifiable Expenses hereunder; or 
 (ii) it has been adjudicated finally by a court of competent jurisdiction that
Indemnitee is liable to the Company with respect to any claim, issue or matter involved in the Proceeding out of which the claim for indemnification has arisen (including, without limitation, a claim that Indemnitee received an improper personal
benefit), no Indemnifiable Expenses shall be paid with respect to such claim, issue or matter unless the court in which such Proceeding was brought shall determine upon application that, despite the adjudication of liability, but in view of all the
circumstances of the case, Indemnitee is fairly and reasonably entitled to indemnity for such Indemnifiable Expenses which such court shall deem proper. 

(c) In making any standard of conduct determination with respect to an Indemnitee and his request for indemnification hereunder, the
person or persons making such determination shall, to the fullest extent permitted by law, presume that (i) Indemnitee is entitled to indemnification under this Agreement if Indemnitee has submitted a request for indemnification in accordance
with this Agreement, and (ii) Indemnitee has satisfied the applicable standard of conduct. The Company shall, to the fullest extent not prohibited by law, in any legal proceeding, have the burden of proof to overcome such presumptions in
connection with the making by any person, persons or entity of any determination (including any standard of conduct determination) contrary to such presumptions. The Company may overcome such presumptions only by its adducing clear and convincing
evidence to the contrary. Neither the failure of the Company (including by its directors or independent legal counsel) to have made a determination prior to the commencement of any action pursuant to this Agreement that indemnification is proper in
the circumstances because Indemnitee has met the applicable standard of conduct, nor an actual determination by the Company (including its directors or independent legal counsel) that Indemnitee has not met such applicable standard of conduct, shall
be a defense to the action or create a presumption that Indemnitee has not met the applicable standard of conduct. In addition, for purposes of any determination of good faith, Indemnitee shall be deemed to have acted in good faith if
Indemnitee’s action is based on the records or books of account of the Company or any Entity, including financial statements, or on information supplied to Indemnitee by the officers of the Company or any Entity in the course of their duties,
or on the advice of legal counsel for the Company or any Entity or on information or records given or reports made to the Company or any Entity by an independent certified public accountant or by an appraiser or other expert selected with reasonable
care by the Company or any Entity. The provisions of this Section 2(c) shall not be deemed to be exclusive or to limit in any way the other circumstances which the Indemnitee may be deemed to have met the applicable standard of conduct
set forth in this Agreement or required by law. In addition, the knowledge and/or actions, or failure to act, of any director, officer, agent or employee of the Company or any Entity shall not be imputed to Indemnitee for purposes of determining the
right to indemnification under this Agreement. 
 (d) From and after the occurrence of a Change of Control, upon the request of
Indemnitee, any standard of conduct determination with respect to such Indemnitee shall be made by Independent Legal Counsel. Within ten (10) days after the Indemnitee provides written notice of his selection of Independent Legal Counsel, the
Company shall deliver to the 

  
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Indemnitee any written objection to the selection of Independent Counsel; provided, however, that such objection may be asserted only on the ground that the Independent Legal Counsel so selected
does not meet the requirements of “Independent Counsel” as defined in Section 14 of this Agreement, and the objection shall set forth with particularity the factual basis of such assertion. Absent a proper and timely objection,
the person so selected shall act as Independent Legal Counsel. If such written objection is so made and substantiated, the Independent Legal Counsel so selected may not serve as Independent Legal Counsel unless and until such objection is withdrawn
or a court has determined that such objection is without merit. 
 A “Change of Control” shall be deemed to occur upon the
earliest to occur after the date of this Agreement of any of the following events: 
 (i) Any Person (as defined below) is or
becomes the Beneficial Owner (as defined below), directly or indirectly, of securities of the Company representing more than thirty percent (30%) of the combined voting power of the Company’s then outstanding securities without the prior
approval of at least two-thirds of the members of the Board in office immediately prior to such person attaining such percentage; 

(ii) During any period of two (2) consecutive years (not including any period prior to the execution of this Agreement),
individuals who at the beginning of such period constitute the Board, and any new director (other than a director designated by a person who has entered into an agreement with the Company to effect a transaction described in Sections 2(d)(i),
2(d)(iii) or 2(d)(iv)) whose election by the Board or nomination for election by the Company’s stockholders was approved by a vote of at least two-thirds of the directors then still in office who either were directors at the
beginning of the period or whose election or nomination for election was previously so approved), cease for any reason to constitute a least a majority of the members of the Board; 

(iii) The effective date of a merger or consolidation of the Company with any other entity, other than a merger or
consolidation which would result in the voting securities of the Company outstanding immediately prior to such merger or consolidation continuing to represent (either by remaining outstanding or by being converted into voting securities of the
surviving entity) more than 51% of the combined voting power of the voting securities of the surviving entity outstanding immediately after such merger or consolidation and with the power to elect at least a majority of the Board or other governing
body of such surviving entity; 
 (iv) The approval by the stockholders of the Company of a complete liquidation of the
Company or an agreement for the sale or disposition by the Company of all or substantially all of the Company’s assets; and 

(v) There occurs any other event of a nature that would be required to be reported in response to Item 6(e) of Schedule
14A of Regulation 14A (or a response to any similar item on any similar schedule or form) promulgated under the Exchange Act (as defined below), whether or not the Company is then subject to such reporting requirement. 

  
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 For purposes of this Section 2(d), the following terms shall have the following
meanings: 
 (A) “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended. 

(B) “Person” shall have the meaning as set forth in Sections 13(d) and 14(d) of the Exchange Act; provided, however,
that Person shall exclude (i) the Company, (ii) any trustee or other fiduciary holding securities under an employee benefit plan of the Company, and (iii) any corporation owned, directly or indirectly, by the stockholders of the
Company in substantially the same proportions as their ownership of stock of the Company. 
 (C) “Beneficial Owner”
shall have the meaning given to such term in Rule 13d-3 under the Exchange Act; provided, however, that Beneficial Owner shall exclude any Person otherwise becoming a Beneficial Owner by reason of the stockholders of the Company approving a merger
of the Company with another entity. 
 (e) Any standard of conduct determination that is adverse to Indemnitee may be challenged by
the Indemnitee in the Court of Chancery of the State of Delaware. No determination by the Company (including by its directors or any independent legal counsel) that Indemnitee has not satisfied any applicable standard of conduct shall be a defense
to any demand by Indemnitee for indemnification or reimbursement or advance payment of Expenses by the Company hereunder or create a presumption that Indemnitee has not met any applicable standard of conduct. 

3. Procedure for Payment of Indemnifiable Amounts. Indemnitee shall submit to the Company a written request specifying the
Indemnifiable Amounts for which Indemnitee seeks payment under Section 1 and the basis for the claim. The Company shall pay such Indemnifiable Amounts to Indemnitee within twenty (20) calendar days of receipt of the request. At the
request of the Company, Indemnitee shall furnish such documentation and information as are reasonably available to Indemnitee and necessary to determine whether Indemnitee is entitled to indemnification. Such determination shall be made in each
instance (a) by a majority vote of the directors of the Company consisting of persons who are not at that time parties to the Proceeding (“Disinterested Directors”), whether or not a quorum, (b) by a committee of
Disinterested Directors designated by a majority vote of Disinterested Directors, whether or not a quorum, (c) if there are no Disinterested Directors, or if the Disinterested directors so direct, by Independent Legal Counsel in a written
opinion to the Board, with a copy to the Indemnitee, or (d) by the stockholders of the Company.  
 4.
Cooperation. The Indemnitee shall cooperate with the person, persons or entity making such determination with respect to the Indemnitee’s entitlement to indemnification, including providing to such person, persons or entity upon
reasonable advance request any documentation or information which is not privileged or otherwise protected from disclosure and which is reasonably available to the Indemnitee and reasonably necessary to such determination. Any Expenses actually and
reasonably incurred by the Indemnitee in so cooperating shall be borne by the Company (irrespective of the determination as to the Indemnitee’s entitlement to indemnification) and the Company hereby indemnifies the Indemnitee therefrom.

  
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 5. Indemnification for Expenses of a Party Who is Wholly or Partly Successful. To
the extent permissible under applicable law and consistent with Section 1, to the extent that Indemnitee is, by reason of Indemnitee’s Corporate Status, a party to and is successful, on the merits or otherwise, in any Proceeding,
Indemnitee shall be indemnified against all Expenses reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection therewith. If Indemnitee is not wholly successful in such Proceeding but is successful, on the merits or otherwise,
as to one or more but less than all claims, issues or matters in such Proceeding, the Company shall indemnify Indemnitee against all Expenses reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection with each successfully
resolved claim, issue or matter. For purposes of this Agreement, the termination or settlement of any claim, issue or matter in such a Proceeding by dismissal, with or without prejudice, shall be deemed to be a successful result as to such claim,
issue or matter. 
 6. Indemnification For Expenses of a Witness. Notwithstanding any other provision of this
Agreement, to the fullest extent permitted by applicable law, and to the extent that Indemnitee is, by reason of the Indemnitee’s Corporate Status, a witness in any Proceeding to which Indemnitee is not a party, the Indemnitee shall be entitled
to indemnification and advancement against all Expenses actually and reasonably incurred by him or on his behalf in connection therewith. 

7. Effect of Certain Resolutions. Neither the settlement or termination of any Proceeding nor the failure of the Company to
award indemnification or to determine that indemnification is payable shall create an adverse presumption that Indemnitee is not entitled to indemnification hereunder. In addition, the termination of any proceeding by judgment, order, settlement,
conviction, or upon a plea of nolo contendere or its equivalent shall not create a presumption that Indemnitee did not act in good faith and in a manner which Indemnitee reasonably believed to be in or not opposed to the best
interests of the Company or, with respect to any criminal action or proceeding, had reasonable cause to believe that Indemnitee’s action was unlawful. 

8. Advancement of Expenses; Conditions. The Company shall advance to Indemnitee, to the fullest extent permitted by the Delaware
General Corporation Law as such law may from time to time be amended, Expenses actually and reasonably incurred by Indemnitee in connection with any Proceeding, including a Proceeding by or in the right of the Company. As a condition precedent to
the Company’s advancement of Expenses to Indemnitee, Indemnitee shall furnish the Company a written undertaking to repay the amount of such Expenses advanced to Indemnitee if it is finally determined, after all appeals by a court of competent
jurisdiction are exhausted, that Indemnitee is not entitled under this Agreement to indemnification with respect to such Expenses. Such undertaking shall be an unlimited general obligation of Indemnitee, shall be accepted by the Company without
regard to the financial ability of Indemnitee to make repayment, and in no event shall be required to be secured. The Indemnitee’s right to advancement is not subject to the satisfaction of any standard of conduct. Indemnitee shall submit to
the Company a written request specifying the Expenses for which Indemnitee seeks an advancement under this Section 8, together with documentation evidencing that Indemnitee has incurred such Expenses. Payment of Expenses under this
Section 8 shall be made no later than twenty (20) calendar days after the Company’s receipt of such request and the undertaking required by this Section 8. Advances shall include any and all reasonable Expenses
incurred 

  
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pursuing an action to enforce this right of advancement, including Expenses incurred preparing and forwarding statements to the Company to support the advances claimed. The Indemnitee shall
qualify for advances upon the execution and delivery to the Company of this Agreement, which shall constitute an undertaking providing that the Indemnitee undertakes to repay the advance to the extent that it is ultimately determined that Indemnitee
is not entitled to be indemnified by the Company. 
 9. Remedies of Indemnitee. 

(a) Right to Petition Court. If Indemnitee makes a request for payment of Indemnifiable Amounts under Section 1 or a
request for an advancement of Indemnifiable Expenses under Section 8 and the Company fails to make such payment or advancement in a timely manner pursuant to the terms of this Agreement, Indemnitee may petition the appropriate judicial
authority to enforce the Company’s obligations under this Agreement. 
 (b) Burden of Proof. In any judicial proceeding
brought under Section 9(a), the Company shall have the burden of proving that Indemnitee is not entitled to payment of Indemnifiable Amounts hereunder. 

(c) Expenses. To the fullest extent permitted by law, the Company agrees to indemnify and, if requested, advance to Indemnitee
Expenses incurred by Indemnitee in connection with investigating, preparing for, litigating, defending or settling any action brought by Indemnitee under Section 9(a), or in connection with any claim or counterclaim brought by the
Company in connection therewith. 
 (d) Validity of Agreement. The Company shall be precluded from asserting in any Proceeding
(including, without limitation, an action under Section 9(a)) that the provisions of this Agreement are not valid, binding and enforceable or that there is insufficient consideration for this Agreement and shall stipulate in court that
the Company is bound by all the provisions of this Agreement. 
 (e) Failure to Act Not a Defense. The failure of the Company
(including its Board of Directors or any committee thereof, independent legal counsel, or stockholders) to make a determination concerning the permissibility of the payment of Indemnifiable Amounts or the advancement of Indemnifiable Expenses under
this Agreement shall not be a defense in any action brought under Section 9(a), and shall not create a presumption that such payment or advancement is not permissible. 

10. Representations and Warranties of the Company. The Company hereby represents and warrants to Indemnitee as follows: 

(a) Authority. The Company has all necessary power and authority to enter into, and be bound by the terms of, this Agreement,
and the execution, delivery and performance of the undertakings contemplated by this Agreement have been duly authorized by the Company. 

(b) Enforceability. This Agreement, when executed and delivered by the Company in accordance with the provisions hereof, shall
be a legal, valid and binding obligation of the Company, enforceable against the Company in accordance with its terms, except as such 

  
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enforceability (i) may be limited by applicable bankruptcy, insolvency, moratorium, reorganization or similar laws affecting the enforcement of creditors’ rights generally and
(ii) are subject to general equitable principles. 
 11. Liability Insurance and Funding. For the duration of
Indemnitee’s service as a director and/or officer of the Company, and thereafter for so long as Indemnitee shall be subject to any pending or possible Indemnifiable Expense or Liability, the Company shall use commercially reasonable efforts
(taking into account the scope and amount of coverage available relative to the cost thereof) to cause to be maintained in effect policies of directors’ and officers’ liability insurance providing coverage for directors and/or officers of
the Company that is at least substantially comparable in scope and amount to that provided by the Company’s current policies of directors’ and officers’ liability insurance. Prior to the occurrence of an initial public offering or any
other material transaction which the Board of Directors believes may change the nature, scope or magnitude of directors’ potential liability, the Company agrees to undertake a review of the adequacy of its directors’ and officers’
liability insurance coverage, and to make such adjustments thereto as may be reasonable or necessary in light of such impending transaction(s). If requested, the Company shall provide Indemnitee with a copy of all directors’ and officers’
liability insurance applications, binders, policies, declarations, endorsements and other related materials, and shall provide Indemnitee with a reasonable opportunity to review and comment on the same. Without limiting the generality or effect of
the two immediately preceding sentences, the Company shall not discontinue or significantly reduce the scope or amount of coverage from one policy period to the next (i) without the prior approval thereof by a majority vote of the Incumbent
Directors, even if less than a quorum, or (ii) if at the time that any such discontinuation or significant reduction in the scope or amount of coverage is proposed there are no Incumbent Directors, without the prior written consent of
Indemnitee (which consent shall not be unreasonably withheld or delayed). In all policies of directors’ and officers’ liability insurance obtained by the Company, Indemnitee shall be named as an insured in such a manner as to provide
Indemnitee the same rights and benefits, subject to the same limitations, as are accorded to the Company’s directors and officers most favorably insured by such policy. The Company may, but shall not be required to, create a trust fund, grant a
security interest or use other means, including without limitation a letter of credit, to ensure the payment of such amounts as may be necessary to satisfy its obligations to indemnify and advance expenses pursuant to this Agreement. 

In the event of and immediately upon a Change of Control, the Company (or any successor to the interests of the Company by way of merger, sale of assets, or
otherwise) shall be obligated to continue, procure and otherwise maintain in effect for a period of six (6) years from the date on which such Change of Control is effective a policy or policies of insurance (which may be a “tail”
policy) (the “Change of Control Coverage”) providing Indemnitee with coverage for losses from alleged wrongful acts occurring on or before the effective date of the Change of Control. If such insurance is in place immediately prior
to the Change of Control, then the Change of Control Coverage shall contain limits, retentions or deductibles, terms and exclusions that are no less favorable to Indemnitee than those set forth above. Each policy evidencing the Change of Control
Coverage shall be non-cancellable by the insurer except for non-payment of premium. No such policy shall contain any provision that limits or impacts adversely any right or privilege of Indemnitee given by this Agreement. 

  
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 12. Contract Rights Not Exclusive; Change in Law. The rights to payment of
Indemnifiable Amounts and advancement of Indemnifiable Expenses provided by this Agreement shall be in addition to, but not exclusive of, any other rights which Indemnitee may have at any time under applicable law, the Company’s bylaws or
articles of incorporation, or any other agreement, vote of stockholders or directors, or otherwise (collectively, an “Other Indemnity Provision”), both as to action in Indemnitee’s official capacity and as to action in any
other capacity as a result of Indemnitee’s serving as a director of the Company. To the extent that a change in applicable law (whether by statute or judicial decision) or Other Indemnity Provision shall permit broader indemnification than is
provided under the terms of the Company’s bylaws or Certificate of Incorporation and this Agreement as of the date hereof, Indemnitee shall be entitled to such broader indemnification and this Agreement shall be deemed to be amended to such
extent. The Company will not adopt any amendment to its bylaws or articles of incorporation or any other agreement the effect of which would be to deny, diminish or encumber Indemnitee’s right to indemnification under this Agreement or any
Other Indemnity Provision. No amendment, alternation or repeat of this Agreement or of any provision hereof shall limit or restrict any right of Indemnitee under this Agreement in respect of any action taken or omitted by such Indemnitee in his or
her Corporate Status prior to such amendment, alteration or repeal. No right or remedy herein conferred is intended to be exclusive of any other right or remedy, and every other right and remedy shall be cumulative and in addition to every other
right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other right
or remedy. 
 13. Access to Board Papers. 

(a) The Company agrees to maintain a complete set of Board Papers in a systematic and organized manner; provided, however, that
if the relevant Board Papers were created prior to the date of this Agreement, the Company shall be deemed to have satisfied its obligations under this Section 13 if it uses all reasonable efforts to collate and keep those Board Papers in the
manner required hereby. Subject to the foregoing proviso, if Indemnitee asks to inspect, or for a copy of, any Board Paper and the request is made in connection with any Proceedings or the threat of any Proceedings, the Company must, within fourteen
(14) days after receiving that request: (i) allow Indemnitee (or a person nominated in writing by Indemnitee) to inspect the Board Paper at the Company’s registered office (or any other place agreed by the Company and Indemnitee), and
(ii) provide Indemnitee a copy of the Board Paper without charge. 
 (b) Indemnitee hereby acknowledges that: (i) the Company
remains the owner of all Board Papers and the Company may request Indemnitee to provide the Company with reasons why Indemnitee requires access to a document, (ii) as a condition to Indemnitee’s right to receive any Board Papers,
Indemnitee must, on written request by the Company, provide the Company with written reasons why Indemnitee requires access to a document, and (iii) Indemnitee must return to the Company or destroy all copies of any Board Papers obtained from
the Company under this Section 13 within ten (10) days after the relevant Proceedings are finally resolved or the threat of such Proceedings has ceased to materially exist. 

  
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 (c) If the Company has any right (including a right it has jointly or in common with Indemnitee
or with Indemnitee and others) to privilege, such as attorney-client privilege, with respect to any document which Indemnitee inspects, copies or uses under this Agreement or the applicable law: (i) that document is to be treated by Indemnitee
as confidential; (ii) by permitting the inspection, copying or use to Indemnitee or Indemnitee’s permitted nominee, the Company does not waive any privilege; and (iii) in so inspecting, copying or using the document by himself or
herself or through Indemnitee’s permitted nominee, Indemnitee must use his or her best efforts to ensure that so far as is practical the right to privilege is not lost or waived, whether by Indemnitee or the Indemnitee’s nominee or
otherwise and as a condition to providing any such document to Indemnitee the Company may require Indemnitee to enter into a reasonable and customary joint defense or other similar agreement for the protection of any such privilege. Nothing in this
Agreement shall be deemed to prevent or preclude the Company from relying on privilege in proceedings between Indemnitee and the Company (including in respect of a document which the Company has disclosed to Indemnitee outside those proceedings).

 (d) Nothing in this Section 13 shall be deemed to limit any right of access Indemnitee otherwise has to Board Papers. 

(e) Indemnitee hereby agrees not to disclose any confidential information contained in a Board Paper to a third party unless: (i) the
Company has given its prior written consent to such disclosure; (ii) Indemnitee is required to do so by law; (iii) the disclosure is made for the purpose of obtaining professional advice or in connection with the relevant Proceedings or
the threat of such Proceedings in relation to which Indemnitee was given access to the Board Paper; or (iv) the disclosure is made on behalf of the Company and for Company purposes in furtherance of Indemnitee’s duties as a director,
officer, employee or agent of the Company at the time such disclosure is made; provided, however, if Indemnitee is entitled to disclose confidential information under this Section 13(e) and the Board Papers include any information
to which attorney-client privilege attaches for the benefit of the Company, or both the Company and Indemnitee, Indemnitee must use his or her best efforts to avoid doing anything that will cause that privilege to be waived, extinguished or lost by
the Company in relation to third parties. 
 14. Vesting and Duration of Agreement. The obligations under this Agreement and
the indemnification rights in favor of the Indemnitee shall vest upon the effective date of this Agreement.  
 15. Services of
Indemnitee. In reliance upon the obligations of the Company set forth in this Agreement, Indemnitee has agreed to serve as a [director/officer] of the Company. However, this Agreement shall not impose any obligation on Indemnitee or the
Company to continue Indemnitee’s service to the Company beyond any period otherwise required by law or by any other agreements or commitments of the parties. 

16. Definitions. 

(a) “Board Papers” means all materials provided to Indemnitee specifically in connection with any meeting of the Board or any
committee of the Board, whether in documentary form or some other form, including, but not limited to, board papers, submissions, 

  
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minutes, memoranda, legal opinions, financial statements and subcommittee papers during the the period commencing on the date that Indemnitee first became a member of the Board and ending on the
date Indemnitee ceases to serve as a member of the Board. 
 (b) “Corporate Status” describes the status of a person who is
serving or has served (i) as a director and/or officer of the Company, (ii) in any capacity with respect to any employee benefit plan of the Company, or (iii) as a director, partner, trustee, officer, employee, or agent of any other
Entity at the request of the Company. 
 (c) “Entity” shall mean any corporation, partnership, joint venture, trust,
foundation, association, organization or other legal entity and any group or division of the Company or any of its subsidiaries. 
 (d)
“Expenses” shall mean all reasonable fees, costs and expenses incurred in connection with investigating, prosecuting or defending (or preparing to investigate, prosecute or defend) any Proceeding (as defined below), or being or
preparing to be a witness in a Proceeding, including, without limitation, attorneys’ fees, disbursements and retainers (including, without limitation, any such fees, disbursements and retainers incurred by Indemnitee pursuant to
Section 7), fees and disbursements of expert witnesses, private investigators and professional advisors (including, without limitation, accountants and investment bankers), court costs, transcript costs, fees of experts, travel expenses,
duplicating, printing and binding costs, telephone and fax transmission charges, postage, delivery services, secretarial services, and other disbursements and expenses. 

(e) “Incumbent Directors” shall mean those members of the Board serving as such immediately prior to the consummation of any
transaction which by its terms or otherwise results in a change in the composition of the Board. 
 (f) “Independent
Counsel” shall mean a law firm, or a member of a law firm, selected by the Indemnitee and approved by the Company (which approval should not be unreasonably withheld or delayed) who, in the past five years has not been retained to
represent the Company or Indemnitee in any matter material to either such party (other than with respect to matters concerning the Indemnitee under this Agreement, or of other indemnitees under similar indemnification agreements). Notwithstanding
the foregoing, the term “Independent Counsel” shall not include any person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest in representing either the Company or Indemnitee in
an action to determine Indemnitee’s rights under this Agreement. The Company agrees to pay the reasonable fees and expenses of the Independent Counsel referred to above and to fully indemnify such counsel against any and all Expenses, claims,
liabilities and damages arising out of or relating to this Agreement or its engagement pursuant hereto. 
 (g)
“Liabilities” shall mean judgments, damages, liabilities, losses, penalties, excise taxes, fines and amounts paid in settlement. 

(h) “Proceeding” shall mean any threatened, pending or completed claim, action, suit, arbitration, alternate dispute
resolution process, investigation, inquiry, administrative or regulatory hearing, or any other threatened or actual proceeding, whether civil, criminal, 

  
 - 11 - 

 
administrative, regulatory or investigative, whether formal or informal and any appeals therefrom (including, without limitation, any proceeding initiated by Indemnitee pursuant to
Section 9 to enforce Indemnitee’s rights hereunder). Proceeding shall also include any corporate internal investigation from and after the time in which the Indemnitee has received or is entitled to receive the warning mandated in
Upjohn Company v. United States, 449 U.S. 383 (1981). 
 17. Successors. This Agreement shall be (a) binding upon
all successors and assigns of the Company (including any transferee of all or a substantial portion of the business, stock and/or assets of the Company and any direct or indirect successor by merger or consolidation or otherwise by operation of law)
and (b) binding on and shall inure to the benefit of the heirs, personal representatives, executors and administrators of Indemnitee. This Agreement shall continue for the benefit of Indemnitee and such heirs, personal representatives,
executors and administrators after Indemnitee has ceased to have Corporate Status. 
 18. Subrogation. Upon any payment
of Indemnifiable Amounts under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of contribution or recovery of Indemnitee against other persons, and Indemnitee shall take, at the request of the
Company, all reasonable action necessary to secure such rights, including the execution of such documents as are necessary to enable the Company to bring suit to enforce such rights. 

19. Severability. Whenever possible, each provision of this Agreement shall be interpreted in such a manner as to be effective
and valid under applicable law, but if any provision of this Agreement, or any clause thereof, shall be determined by a court of competent jurisdiction to be illegal, invalid or unenforceable, in whole or in part, such provision or clause shall be
limited or modified in its application to the minimum extent necessary to make such provision or clause valid, legal and enforceable, and the remaining provisions and clauses of this Agreement shall remain fully enforceable and binding on the
parties. 
 20. Modifications and Waiver. Except as provided in Section 12 with respect to changes in
applicable law which broaden the right of Indemnitee to be indemnified by the Company, no supplement, modification or amendment of this Agreement shall be binding unless executed in writing by each of the parties hereto. No waiver of any of the
provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions of this Agreement (whether or not similar), nor shall such waiver constitute a continuing waiver. 

21. General Notices. All notices, requests, demands and other communications hereunder shall be in writing and shall be deemed
to have been duly given (a) when delivered by hand, (b) when transmitted by facsimile and receipt is acknowledged, or (c) if mailed by certified or registered mail with postage prepaid, on the third business day after the date on
which it is so mailed: 
  

	 	(i)	If to Indemnitee, to the address on the signature page hereto. 

  
 - 12 - 

	 	(ii)	If to the Company, to: 

 Aspen Aerogels, Inc. 

Attention: Board of Directors 

30 Forbes Road, Bldg B 

Northborough, MA 01532 

			
	Attn:    	 	President
	Tel:	 	(508) 691-1111
	Fax:	 	(508) 691-1200

 or to such other address as may have been furnished in the same manner by any party to the others. 

22. Governing Law. This Agreement shall be governed by and construed and enforced under the laws of the State of Delaware
without giving effect to the provisions thereof relating to conflicts of law. The Company and Indemnitee hereby irrevocably and unconditionally (i) agree that any action or proceeding arising out of or in connection with this Agreement shall be
brought only in the Chancery Court of the State of Delaware (the “Delaware Court”), and not in any other state or federal court in the United States of America or any court in any other country; (ii) consent to submit to the
exclusive jurisdiction of the Delaware Court for purposes of any action or proceeding arising out of or in connection with this Agreement; (iii) waive any objection to the laying of venue of any such action or proceeding in the Delaware Court;
and (iv) waive, and agree not to plead or to make, any claim that any such action or proceeding brought in the Delaware Court has been brought in an improper or inconvenient forum. 

23. Agreement Governs. This Agreement is to be deemed consistent wherever possible with relevant provisions of the
Company’s Bylaws and Certificate of Incorporation, however, in the event of a conflict between this Agreement and such provisions, the provisions of this Agreement shall control. 

24. Defense of Claims. The Company shall be entitled to participate in the defense of any claim involving any Proceeding for
which indemnification is sought (an “Indemnifiable Claim”) or to assume the defense thereof, with counsel reasonably satisfactory to the Indemnitee; provided that if Indemnitee believes, after consultation with counsel selected by
Indemnitee, that (a) the use of counsel chosen by the Company to represent Indemnitee would present such counsel with an actual or potential conflict, (b) the named parties in any such Indemnifiable Claim (including any impleaded parties)
include both the Company and Indemnitee and Indemnitee shall conclude that there may be one or more legal defenses available to him or her that are different from or in addition to those available to the Company, or (c) any such representation
by such counsel would be precluded under the applicable standards of professional conduct then prevailing, then Indemnitee shall be entitled to retain separate counsel (but not more than one law firm plus, if applicable, local counsel in respect of
any particular Indemnifiable Claim) at the Company’s expense. The Company shall not be liable to Indemnitee under this Agreement for any amounts paid in settlement of any threatened or pending Indemnifiable Claim effected without the
Company’s prior written consent. The Company shall not, without the prior written consent of the Indemnitee, effect any settlement of any threatened 

  
 - 13 - 

 
or pending Indemnifiable Claim to which the Indemnitee is, or could have been, a party unless such settlement solely involves the payment of money and includes a complete and unconditional
release of the Indemnitee from all liability on any claims that are the subject matter of such Indemnifiable Claim. Neither the Company nor Indemnitee shall unreasonably withhold or delay its consent to any proposed settlement; provided that
Indemnitee may withhold consent to any settlement that does not provide a complete and unconditional release of Indemnitee or which requires anything from Indemnitee beyond the mere payment of money. 

25. Information Sharing. To the extent that the Company receives a request or requests from a governmental third party or other
licensing or regulating organization (the “Requesting Agency”), whether formal or informal, to produce documentation or other information concerning an investigation, whether formal or informal, being conducted by the Requesting
Agency, and such investigation is reasonably likely to include review of any actions or failures to act by the Indemnitee, the Company shall promptly give notice to Indemnitee of said request or requests and any subsequent request. In addition, the
Company shall provide the Indemnitee with a copy of any and all information or documentation that the Company shall provide to the Requesting Agency. 

26. Legal Fees and Expenses. It is the intent of the Company that Indemnitee not be required to incur legal fees and or other
Expenses associated with the interpretation, enforcement or defense of Indemnitee’s rights under this Agreement by litigation or otherwise because the cost and expense thereof would substantially detract from the benefits intended to be
extended to Indemnitee hereunder. Accordingly, without limiting the generality or effect of any other provision hereof, if Indemnitee reasonably believes that the Company has failed to comply with any of its obligations under this Agreement after
giving the Company written notice thereof and a reasonable opportunity to cure same or in the event that the Company or any other person takes or threatens to take any action to declare this Agreement void or unenforceable, or institutes any
litigation or other action or proceeding that Indemnitee reasonably believes to be designed to deny, or to recover from, Indemnitee the benefits provided or intended to be provided to Indemnitee hereunder, the Company irrevocably authorizes the
Indemnitee from time to time to retain counsel of Indemnitee’s choice, at the expense of the Company as hereafter provided, to advise and represent Indemnitee in connection with any such interpretation, enforcement or defense, including without
limitation the initiation or defense of any litigation or other legal action, whether by or against the Company or any director, officer, stockholder or other person affiliated with the Company, in any jurisdiction. Without respect to whether
Indemnitee prevails, in whole or in part, in connection with any of the foregoing, the Company will pay and be solely financially responsible for any and all attorneys’ and related fees and expenses reasonably incurred by Indemnitee in
connection with any of the foregoing; it being agreed that any and all such fees and expenses among those items referred to herein as Expenses.  

27. Counterparts. This Agreement may be executed in one or more counterparts, each of which shall for all purposes be deemed to
be an original but all of which together shall constitute one and the same Agreement. Only one such counterpart signed by the party against whom enforceability is sought needs to be produced to evidence the existence of this Agreement. 

28. Existing Indemnification Agreement. In the event that the Indemnitee is currently a party to an indemnification agreement
with the Company in connection with the 

  
 - 14 - 

 
Indemnitee’s service as a [director/officer] of the Company (the “Prior Agreement”), upon the effectiveness of this Agreement, this Agreement shall amend and
restate the Prior Agreement in its entirety and shall supercede and replace the Prior Agreement. 

*    *    *    *    * 

[remainder of this page intentionally left blank] 

  
 - 15 - 

 IN WITNESS WHEREOF, the parties hereto have executed this Indemnification Agreement as of the date first written
above. 
  

					
	THE COMPANY:
	
	Aspen Aerogels, Inc.
		
	By:	 	  

	Name:	 		 	
	Title:	 		 	
	
	INDEMNITEE:
	
	  

	Name:
	Address:
			
		 	Fax:EX-10.1

 EXHIBIT 10.1 

EMPLOYMENT AGREEMENT 
 THIS
AGREEMENT is made, effective as of May 9, 2014, by and between Gibraltar Industries, Inc., a Delaware corporation, with offices at 3556 Lake Shore Road, Buffalo, New York 14219 (the “Company”), and Frank Heard, an individual residing
at , (the “Executive”). 
 RECITALS: 

The Company desires to employ the Executive and the Executive desires to be employed by the Company as the Company’s President and Chief
Operating Officer. The Company and the Executive desire to set forth in writing the terms and conditions upon which the Executive will be employed by the Company. 

CONSIDERATION: 
 NOW, THEREFORE,
in consideration of the conditions and covenants set forth in this Agreement, the parties hereto agree as follows: 
 ARTICLE 1. 

Employment and Duties 

1.01 Employment. The Company hereby agrees to, and does hereby employ the Executive, and the Executive hereby agrees to and does hereby
accept employment, as the President and Chief Operating Officer of the Company. It is contemplated that the Executive will continue to serve as the President and Chief Operating Officer of the Company subject to the provisions of this Agreement and
the right of the Company’s Board of Directors to elect new officers. The Executive agrees that in the event his employment with the Company is terminated for any reason whatsoever, effective as of the date of such termination the Executive will
be deemed and construed, without any further action on the part of the Executive (including, but not limited to, the execution and delivery of a written resignation letter), to have resigned: (a) from his position as President and Chief
Operating Officer; (b) from all other positions he may hold as an officer or director or member of the management of any corporation or other entity that is directly or indirectly owned by the Company; and (c) from any and all other
positions he may hold with the Company or any of the Company’s direct or indirect subsidiaries, whether as an officer or employee or as a member of any committee, board or other executive or administrative body. 

1.02 Duties. During the period of his employment under this Agreement the Executive shall report to Brian J. Lipke, the Company’s
Chief Executive Officer and shall perform such executive duties and responsibilities as may be assigned to him, from time to time, by Mr. Lipke or the Board of Directors of the Company and shall at all times be subject to the control of the
Company’s Board of Directors in the performance of such duties. The Executive may become a director or trustee of any corporation or entity that does not constitute a Competitive Operation as described in Section 4.03 hereof; provided
that, the Executive will not be permitted to serve as a member of the board of directors of more than three (3) companies 

 
whose shares are traded on any U.S. or foreign, nationally recognized, stock exchange operating without first obtaining the approval of the Company’s Board of Directors. 

1.03 Promotional Opportunities. Nothing in this Agreement shall be deemed to limit or impair any opportunity which the Executive may
have for promotion to a higher office within the Company’s management structure. In the event of any such promotion, the provisions of Section 1.02 relating to the Executive’s duties and responsibilities will automatically be deemed
to be modified to the extent such duties, responsibilities and reporting have been mutually agreed to by the Company and the Executive. 

ARTICLE 2. 
 Compensation and
Fringe Benefits 
 2.01 Base Salary. The annual base salary of the Executive (hereinafter the “Base Salary”) shall be
equal to U.S. $450,000.00. The Base Salary of the Executive shall be evaluated annually by the Compensation Committee of the Company’s Board of Directors (the “Compensation Committee”) and may, in the sole discretion of the
Compensation Committee, be increased from time to time. The Base Salary of the Executive shall be paid to the Executive in substantially equal installments, less applicable withholding taxes at the same time that the Company issues payroll checks to
the employees of the Company’s then existing corporate offices. If, at any time after the date hereof the Base Salary of the Executive is increased, the term “Base Salary” as used in this Agreement shall mean the Base Salary of the
Executive as so increased. For the 2014 calendar year, the Executive shall be paid a pro-rata portion of his Base Salary based on the portion of 2014 occurring after the date hereof. 

2.02 Incentive Compensation. 

(a)    (a) Subject to the following provisions of this Section 2.02, the Executive shall be entitled to participate
in the Company’s annual cash incentive compensation program known as the Management Incentive Compensation Plan (the “MICP”) and the annual cash incentive compensation which shall be payable to the Executive for the achievement by the
Company of the targeted level of performance as established by the Compensation Committee under the MICP shall be equal to seventy five percent (75%) of the Base Salary of the Executive as in effect from time to time; provided that, with
respect to the 2014 calendar year, the amount of the annual cash incentive compensation which the Executive shall be entitled to receive under the MICP shall be based on the pro-rata portion of the Executive’s Base Salary which is paid to the
Executive in 2014. In connection with the Executive’s participation in the MICP, the Executive shall also be entitled to participate in and receive awards of restricted stock units under the management stock purchase plan (“MSPP”), a
feature of the Gibraltar Industries, Inc. 2005 Equity Incentive Plan (the “Omnibus Plan”). 
 (b) The Executive shall also be
entitled to participate in and to receive awards under the Company’s equity based long term incentive plan (the “LTIP”), which, currently provides executives with annual awards of restricted stock units which have a time based vesting
schedule and annual awards of performance stock units, which performance stock units are also subject to vesting requirements whose final value is determined by the degree to which pre-established performance goals have been met or exceeded. The
aggregate value of the time 

  
 2 

 
based restricted stock units which shall be awarded to the Executive annually under the LTIP shall be equal to sixty percent (60%) of the Executive’s then applicable Base Salary and the
aggregate value of the performance stock units which shall be awarded to the Executive for the achievement by the Company of the targeted level of performance as established by the Compensation Committee under the LTIP shall be equal to one hundred
ten percent (110%) of the Executive’s then applicable Base Salary. Notwithstanding the foregoing and for the avoidance of doubt, with respect to the 2014 calendar year, the aggregate value of the time based restricted stock units which
shall be awarded to the Executive shall be based on the full amount of the Executive’s Base Salary (not a pro-rata portion thereof), which award of time based restricted stock units shall vest at an annual rate of twenty five percent
(25%) beginning on the first anniversary of the grant date (which grant date will occur within thirty five (35) days following the date hereof) and continuing on each subsequent anniversary of the grant date; and the aggregate value of the
performance stock units which shall be awarded to the Executive shall be based on the pro-rata portion of the Executive’s Base Salary which is paid to the Executive in 2014 (not the full amount of such Base Salary). 

(c) Payment of the amount, if any, of any bonus the Executive may become entitled to receive pursuant to the terms of the MICP shall be made
to the Executive in accordance with the terms of the MICP. The amount and timing of payment of any cash compensation which the Executive may be entitled to receive as a result of his participation in the MSPP shall be determined pursuant to the
terms of the MSPP. The issuance of shares of common stock of the Company to which he may be entitled with respect to restricted stock units awarded to the Executive under the terms of the LTIP and the payment to the Executive of cash to which he may
be entitled with respect performance stock units awarded to the Executive under the terms of the LTIP shall be made to the Executive in accordance with the terms of the applicable restricted stock unit awards and performance stock unit awards made
to the Executive under the LTIP. The Executive shall also be entitled to additional bonuses which the Compensation Committee, in its sole discretion, may determine and approve. 

2.03 Reimbursement of Expenses. The Company shall reimburse the Executive for all reasonable expenses which the Executive may, from
time to time, incur on behalf of the Company in the performance of his responsibilities and duties under this Agreement, provided that the Executive accounts to the Company for such expenses in the manner prescribed by the Company. 

2.04 Tax Qualified Plans. The Executive shall be entitled to participate in the tax qualified 401(k) plan maintained by the Company for
employees of the Company who are employed at the Company’s corporate offices and any other tax qualified plans which the Company may, from time to time, maintain for employees of the Company who are employed at the Company’s corporate
headquarters. 
 2.05 Group Welfare Benefits. During the period of the Executive’s employment under the terms of this Agreement,
the Executive shall be eligible to participate in the group health and welfare benefits plans and programs which are maintained by the Company for exempt salaried employees employed at the Company’s corporate offices. Notwithstanding the
foregoing, the Company shall have no obligation to maintain or provide such group welfare 

  
 3 

 
benefits to the Executive unless the Executive pays to the Company, on a monthly basis, the employee portion of any costs associated with the maintenance and provision of such benefits by the
Company, such costs to be determined on the same basis as for other plan participants who are employed by the Company at the Company’s corporate headquarters. In addition, during the period of the Executive’s employment under the terms of
this Agreement, the Executive shall be eligible to participate in the group health and welfare plans and programs on the same basis as may be provided or maintained by the Company for its executive officers. 

2.06 Vacation and Other Benefits. Notwithstanding anything to the contrary contained in the vacation policy of the Company in effect
for salaried employees of the Company employed at the Company’s corporate headquarters (such policy being hereinafter the “Vacation Policy”), during each full year of the Executive’s employment hereunder, the Executive shall be
entitled to five (5) weeks of paid vacation in addition to U.S. holidays on which salaried employees employed at the Company’s corporate offices are not required to report to work. Except as otherwise provided in the preceding sentence,
the Executive’s rights to payment of vacation pay shall be determined by the Vacation Policy. In addition, the Executive shall be entitled to receive all other employment benefits and participate in such other employee benefit plans on the same
basis as may, from time to time, be provided or maintained by the Company for executive officers. 
 ARTICLE 3. 

Term and Termination 
 3.01
Term. 
 (a) The period of employment of the Executive under this Agreement (hereinafter the “Term”) shall begin on the
date hereof and continue until terminated by the Company, with or without ‘Cause” (as hereinafter defined), by the Executive in a termination which does or does not constitute a “Good Reason Termination” (as hereinafter defined),
as a result of the Executive’s death, as a result of the Executive’s Retirement (as hereinafter defined) or, by the Company or the Executive as a result of the Executive’s suffering of a “Disability” (as hereinafter
defined). 
 3.02 Termination For Cause. The Company may terminate the Executive’s employment hereunder at any time for Cause
(as defined below), by delivering to the Executive a written notice of termination setting forth the date on which such termination is to be effective and specifying in reasonable detail the facts and circumstances claimed to provide a basis for the
termination. 
 For purposes of this Agreement, the Company shall have “Cause” to terminate the Executive’s employment
hereunder if the Executive has engaged in egregious acts or omissions which have resulted in material injury to the Company and its business; provided that, the Executive shall not, under any circumstances, be deemed to have engaged in egregious
acts or omissions if: (a) the acts or omissions have been committed or omitted by the Executive in connection with the implementation of policies or procedures or strategic initiatives which have been disclosed to the Board of Directors of the
Company; and (b) the Board of Directors of the Company has not directed the Executive not to implement any such policies, procedures or strategic initiatives. 

  
 4 

 3.03 Termination Without Cause. The Company may, at any time on or after the date hereof,
upon direction by the Board of Directors, terminate the Executive’s employment, without Cause (as “Cause” is defined in Section 3.02 above), by delivering a written notice of termination to the Executive. Upon delivery by the
Company to the Executive of a written notice of termination as provided for herein, the Executive’s employment hereunder shall be terminated effective as of the first day following the end of the ninety (90) day period beginning on the day
following the date the Company delivers the written notice of termination to the Executive. Notwithstanding the fact that the effective date of termination of the Executive by the Company without Cause is not effective until the end of first day
following the end of the ninety (90) day period beginning on the day following the date the Company delivers the written notice of termination to the Executive, the Executive shall, if directed by the Company in the written notice which it
delivers to the Executive, cease performing any duties for the Company and refrain from entering any premises at which the operations of the Company or any of its subsidiaries is conducted. In the event that the Company provides the Executive the
written direction described in the preceding sentence, the Company shall continue to be obligated to pay the Executive the regular installments of his then applicable Base Salary and other benefits as though he continued to perform his services for
the Company through the end of the ninety (90) day period beginning on the day following the date the Company delivers the written notice of termination to the Executive. 

3.04 Termination by the Executive. 

(a)    (a) The Executive may terminate his employment hereunder at any time by delivering a written notice of termination
to the Company. Upon delivery by the Executive to the Company of a written notice of termination as provided for herein, the Executive’s employment hereunder shall be terminated effective as of the end of the ninety (90) day period
beginning on the day following the date on which the Executive delivers the written notice of termination to the Company. Notwithstanding the fact that the effective date of termination by the Executive of his employment with the Company is not
effective until the end of first day following the end of the ninety (90) day period beginning on the day following the date the Executive delivers written notice of termination to the Company, the Executive shall, if directed by the Company in
a written notice which it delivers to the Executive at any time after receipt by the Company of a written notice of termination from the Executive, cease performing any duties for the Company and refrain from entering any premises at which the
operations of the Company or any of its subsidiaries is conducted. In the event that the Company provides the Executive the written direction described in the preceding sentence, the Company shall continue to be obligated to pay the Executive the
regular installments of his then applicable Base Salary and other benefits as though he continued to perform his services for the Company through the end of the through the end of the ninety (90) day period beginning on the day following the
date the Executive delivers written notice of termination of his employment to the Company. If the Executive delivers to the Company written notice of his intent to terminate his employment with the Company and the termination is not a “Good
Reason Termination” as described in Section 3.04(b) below or a “No-Fault Termination” as described in Section 3.04(c) below, and if, following the Company’s receipt of such written notice, the Company delivers the
Executive the written direction (contemplated above) which instructs the Executive to cease performing duties 

  
 5 

 
for the Company, the fact that the Executive has been relieved of his duties by the Company shall not be deemed or construed to provide a basis for the Executive to claim that he has terminated
his employment in a termination which constitutes a “Good Reason Termination” and shall not be deemed or construed to provide the Executive a basis for claiming that his employment has been terminated by the Company without
“Cause”. 
 (b) For purposes of this Agreement, the Executive’s termination of his employment pursuant to this
Section 3.04 shall be deemed to be a “Good Reason Termination” if: (i) one or more of the events described in the following sentence has occurred; (ii) the Executive has, no later than ninety (90) days following the
occurrence of any such event, provided written notice to the Company that the event has occurred and that the Executive intends to terminate his employment with the Company unless, within thirty (30) days following the receipt of such notice,
the Company fully and completely restores the Executive to the position which he would have been in had such event not occurred; and (iii) the Company does not, within thirty (30) days following the receipt of the written notice described
in the foregoing clause, fully and completely restore the Executive to the position he would have been in had such event not occurred. The events referred to in the foregoing definition of a Good Reason Termination are as follows: 

(A) the Executive’s annual Base Salary and/or annual or long term cash or equity based bonus opportunity as a percentage
of his Base Salary is reduced or any other material compensation or benefit arrangement for the Executive is reduced (and such reduction in the Executive’s Base Salary, annual or long term cash or equity based bonus opportunity or other
material compensation or benefit arrangement is not made in accordance with a reduction in the base salaries, bonus opportunity or other material compensation payable to a majority of the other executive officers of the Company); 

(B) the Executive’s duties or responsibilities are changed in a manner with the result that the Executive’s new
duties and responsibilities are: (I) materially greater than the Executive’s duties and responsibilities immediately prior to such change and such change in the Executive’s duties and responsibilities is not accompanied by a mutually
agreeable increase in compensation, including Base Salary and annual and long term cash and equity incentive compensation opportunities; or (II) decreased or otherwise limited so as to be inconsistent with the Executive’s position (including
status, offices, title and reporting requirements) immediately prior to the change in the Executive’s duties; 
 (C)
the Executive’s authority is: (I) materially increased, without the Executive’s consent and without a mutually agreeable increase in compensation, including Base Salary and annual and long-term cash and equity incentive compensation
opportunities, of the Executive; or (II) reduced or otherwise limited, in each case so as to be inconsistent with the 

  
 6 

 
authority which accompanied the Executive’s position immediately prior to the change in the Executive’s authority; and 

(D) any other material breach of this Agreement by the Company, without the Executive’s consent. 

(c) If the Executive delivers written notice of his intent to terminate his employment with the Company to the Company at any time during the
fifteen (15) day period beginning on the first day following the first anniversary of the date first set forth above in this Agreement, the termination of the Executive’s employment shall be effective at the time provided for by
Section 3.04(a) above and, for purposes of this Agreement, the termination of the Executive’s employment with the Company shall be deemed to be a “No-Fault Termination”. For the avoidance of doubt, if the Executive delivers
written notice of his intent to terminate his employment to the Company on any day other than a day which occurs during the fifteen (15) day period described in the preceding sentence, the termination of the Executive’s employment which
occurs as a result of the delivery of any such notice shall not be deemed to be a “No-Fault Termination”. 
 3.05
Disability. If, during the period of the Executive’s employment hereunder, it is determined by either the Company or the Executive that the Executive suffers from a Total and Permanent Disability, the party that makes the determination
that the Executive suffers from a Total and Permanent Disability shall provide written notice to the other party of such determination and, effective as of the last day of the calendar month in which such written notice is delivered, the
Executive’s employment with the Company hereunder shall be deemed to be terminated. For purposes of this Agreement, the Executive shall be deemed to suffer from a Total and Permanent Disability if the Executive is unable to perform the material
and substantial duties of the Executive’s position due to any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than twelve
(12) months. 
 3.06 Retirement. The Executive shall be eligible to retire from his employment effective at any time on or after
the later of date he attains age sixty (60) and the fifth anniversary of the effective date of his employment with the Company (the later of such two dates being hereinafter the “Retirement Eligibility Date”). The Executive may retire
at any time on or after the Retirement Eligibility Date by delivering to the Company a written notice of his intent to terminate his employment with the Company and retire, which written notice shall set forth the date on which such retirement (and
its related termination of employment) is to be effective (such date being hereinafter the Executive’s “Retirement Date”) and shall be delivered to the Company not less than ninety (90) days prior to the Executive’s
Retirement Date. Upon delivery by the Executive to the Company of the written notice of his intent to terminate his employment hereunder and retire (as provided for above) the Executive shall be deemed to have retired from his employment with the
Company effective as of the Executive’s Retirement Date. Any termination of the Executive’s employment in accordance with this Section 3.06 shall, for purposes of this Agreement, be deemed to be a “Retirement”. 

  
 7 

 ARTICLE 4. 

Confidentiality; Non-Compete Provisions 

4.01 Confidentiality. During the period of the Executive’s employment hereunder and for a period of three (3) years following
a termination, for any reason whatsoever, of the Executive’s employment hereunder, the Executive agrees that he will not, without the written consent of the Board of Directors of the Company, disclose to any person (other than a person to whom
disclosure is reasonably necessary or appropriate in connection with the performance by the Executive of his duties as an executive of the Company or to a person as required by any order or process of any court or regulatory agency) any confidential
information obtained by the Executive while in the employ of the Company with respect to any management strategies, policies or techniques or with respect to any products, improvements, formulae, designs or styles, processes, customers, methods of
distribution, or methods of manufacture of the Company or any of its subsidiaries; provided, however, that confidential information shall not include any information known generally to the public (other than as a result of unauthorized disclosure by
the Executive) or any information of a type not otherwise considered confidential by persons engaged in the same business or a business similar to that conducted by the Company. 

4.02 Non-Compete. During a period of three (3) years after the date of any termination of the Executive’s employment
hereunder, the Executive will not, directly or indirectly, own, manage, operate, control or participate in the ownership, management, operation or control of, or be connected as an officer, employee, partner, director or otherwise with, or have any
financial interest in, or aid or assist anyone else in the conduct of, any business which competes with any business conducted by the Company or with any group, division or subsidiary of the Company in any geographic area where such business is
being conducted at the time of such termination (any such business, subject to the provisions of Section 4.03 below, being hereinafter referred to as a “Competitive Operation”). Ownership by the Executive of 2% or less of the voting
stock of any publicly held Company shall not constitute a violation of this Section 4.02. 
 4.03 Competitive Operation. For
purposes of Section 4.02 hereof: (a) a business shall not be deemed to be a Competitive Operation unless: (i) 10% or more of the consolidated gross sales and operating revenues of the Company is derived from such business; or
(ii) 10% or more of the consolidated assets of the Company are devoted to such business; and (b) a business which is conducted by the Company at the time of the Executive’s termination and which subsequently is sold or discontinued by
the Company shall not, subsequent to the date of such sale or discontinuance, be deemed to be a Competitive Operation within the meaning of Section 4.02 hereof. 

4.04 Non-solicitation of Employees. During a period of three (3) years after the date of any termination of the Executive’s
employment hereunder, the Executive will not, solicit or offer to employ any individuals that are employees of the Company or any of its subsidiaries or wholly owned limited liability companies (including any executive officers of the Company) at
the time the Executive’s employment is terminated; provided that, the limitation on the right of the Executive to solicit or offer to employ individuals as contained in this Section shall not apply to any such individuals who, either before or
after the termination of the Executive’s 

  
 8 

 
employment hereunder, have terminated their employment with the Company, its subsidiaries and its wholly owned limited liability companies. 

ARTICLE 5. 
 Death and
Disability Benefits 
 5.01 Death Benefits. 

(a) If: (a) the Executive dies during the period of the Executive’s employment hereunder; then (b) the Company shall cause the
beneficiary of the Executive (or, if none, the personal representative of the Executive’s estate) to be paid any benefits payable to the beneficiaries of the Executive on account of the Executive’s death as provided for by the terms of:
(i) any life insurance policies maintained by the Company for the benefit of the Executive; (ii) the Company’s 401(k) plan; (iii) any cash payments the Executive may be entitled to receive as a result of his participation in the
MSPP; (iv) any equity based incentive compensation awards granted to the Executive in connection with the LTIP; (v) any awards of restricted stock, restricted stock units, performance stock units, options or other equity type awards
granted to the Executive under the terms of the Omnibus Plan or otherwise granted to the Executive; and (vi) any tax qualified retirement plans maintained by the Company. 

5.02 Disability Benefits. If: (a) the Executive’s employment is terminated as a result of his suffering of a Total and
Permanent Disability; then (b) the Company shall cause the Executive to be paid any benefits payable to the Executive on account of his suffering of a Total and Permanent Disability under the terms of: (i) any disability insurance policies
maintained by the Company for the benefit of the Executive; (ii) the Company’s 401(k) plan; (iii) any cash payments the Executive may be entitled to receive as a result of his participation in the MSPP; (iv) any equity based
incentive compensation awards granted to the Executive in connection with the LTIP; (v) any awards of restricted stock, restricted stock units, performance stock units, options or other equity type awards granted to the Executive under the
Omnibus Plan or otherwise granted to the Executive; and (vi) any tax qualified retirement plans maintained by the Company; and (c) the Company shall pay to the Executive, in equal monthly installments, for each twelve (12) month
period beginning on the first day following the date the Executive’s employment is terminated due to a Total and Permanent Disability and for each twelve (12) month period which begins on each anniversary of the first day following the
date the Executive’s employment is terminated due to a Total and Permanent Disability (an “Anniversary Date”), an amount equal to (i) sixty percent (60%) of the Executive’s annual Base Salary in effect at the rate in
effect on the date his employment is terminated as a result of his suffering of a Total and Permanent Disability; minus (ii) the sum of (A) the monthly amounts, if any, payable to the Executive under the terms of any disability benefit
plans maintained by the Company and in which the Executive was a participant at the time his employment is terminated due to his suffering of a Total and Permanent Disability; (B) the monthly amount of all social security, retirement or
disability benefits payable to the Executive by any agency of the United States Government, the Canadian Government, the State of New York and/or the Province of Ontario for each such twelve (12) month period; and (C) without duplication
of any amount payable to the Executive under the terms of any disability benefit plan referred to in Section 5.02(c)(ii)(A) above, the monthly amounts payable to the Executive pursuant to any policies of disability insurance maintained by the
Company. The monthly payments to be made to the Executive 

  
 9 

 
pursuant to Section 5.02(c) above in connection with a termination of his employment due to his suffering of a Total and Permanent Disability shall cease and the Company shall have no
further obligation to make any such payments to the Executive effective as of the calendar month immediately following the date in which the Executive attains age sixty five (65) or, if earlier, effective as of the calendar month immediately
following the death of the Executive. 
 ARTICLE 6. 

Severance and Effects of Termination 

6.01 Effect of Termination for Cause. In the event the Executive’s employment with the Company is terminated by the Company for
Cause (as permitted by Section 3.02 hereof) on the first date following the effective date of such termination that employees of the Company who are employed at the Company’s corporate headquarters are paid a regular installment of their
base salary (any such date that employees of the Company who are employed at the Company’s corporate headquarters are paid a regular installment of their base salary being hereinafter a “Pay Date”), the Company shall pay to the
Executive, less applicable payroll and withholding taxes, any installment of his Base Salary which is accrued and unpaid as of the date the termination of the Executive’s employment becomes effective. After the amount required to be paid to the
Executive by the preceding sentence has been paid, the Company shall have no further obligation to pay the Executive any additional Base Salary, compensation or bonuses and, except as otherwise provided in Section 6.06(a), no further obligation
to pay to or provide the Executive any other benefits. For purposes of this Agreement, monthly installments of the Executive’s Base Salary shall not be deemed to be “accrued” if they represent pay for services that would have been
rendered after the date on which the termination of the Executive’s employment is effective. 
 6.02 Effect of Termination Without
Cause. 
 (a)    (a) In the event that the Executive’s employment is terminated by the Company, without Cause
(pursuant to Section 3.03 hereof), the Company shall pay to the Executive; (i) any installment of his Base Salary which is accrued and unpaid as of the date the termination of the Executive’s employment becomes effective, less
applicable payroll and withholding taxes, which payment shall be made in one lump sum on the first Pay Date following the effective date of such termination; and (ii) if the Executive is entitled to payment of an annual bonus under the terms of
the MICP for the calendar year ending immediately prior to the calendar year in which his employment is terminated and such bonus has not been paid to the Executive prior to the date his employment is terminated, the Company shall pay the amount of
any such bonus to the Executive, less applicable payroll and withholding taxes, on the same date that bonuses under the MICP for the calendar year ending immediately prior to the calendar year in which the termination of the Executive’s
employment becomes effective are paid. 
 (b) In addition to the amounts described in Section 6.02(a) above, in the event that the
Executive’s employment is terminated by the Company, without Cause (pursuant to Section 3.03 hereof), provided that, within forty-five (45) days following the date the Company delivers to the Executive a waiver and release in the
standard form used by the Company (hereinafter the “Waiver and Release”), the Executive executes and delivers such Waiver and Release to the Company and does not revoke such Waiver and Release as permitted by the

  
 10 

 
Waiver and Release, the Company shall pay to the Executive an amount (less applicable payroll and withholding taxes) equal to: (i) one and seventy five hundredths (1.75) multiplied by
(ii) the Executive’s then applicable Base Salary, of which amount, an amount equal to the Executive’s then applicable Base Salary shall be paid in twelve (12) consecutive calendar months and in substantially equal installments
beginning on the Pay Date as determined pursuant to the following provisions of this Section 6.02(b) and the remaining portion of which (equal to seventy five hundredths (.75) of the Executive’s Base Salary) shall be paid to the Executive
in one lump sum payment, less applicable payroll and withholding taxes, on the Pay Date as determined pursuant to the following provisions of this Section 6.02(b). If the date on which the termination of the Executive’s employment becomes
effective occurs at any time during the period beginning on December 23 of a calendar year and ending on November 8 of the immediately following calendar year, payment of the lump sum payment and the first installment of the
Executive’s Base Salary provided for by the preceding sentence shall be made on the first Pay Date which occurs after the end of the eight (8) day period beginning on the date the Executive delivers the executed Waiver and Release to the
Company. In the event that the date on which the termination of the Executive’s employment becomes effective occurs at any time between November 9 and December 22 of a calendar year, the date on which the payments required to be made
to the Executive by the first sentence of this Section 6.02(b) shall begin (in the case of the installments provided for) and be made (in the case of the lump sum payment provided for) on the first Pay Date which occurs after the end of the
calendar year or, if later, the first Pay Date which occurs after the end of the eight (8) day period beginning on the date the Executive delivers the executed Waiver and Release to the Company. 

(c) Notwithstanding anything to the contrary contained in Section 6.02(b), the payments to be made to the Executive pursuant to this
Section 6.02 in connection with a termination of his employment without Cause are intended to be exempt from Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) pursuant to Treasury Regulation
Section 1.409A-1(b)(9)(iii). Accordingly, to the extent that the payments to be made to the Executive pursuant to this Section 6.02 and any other payments payable to the Executive in connection with the Executive’s involuntary
separation from service do not qualify for or otherwise exceed the limit set forth in Treasury Regulation Section 1.409A-1(b)(9)(iii)(A) or any similar limit promulgated by the U.S. Treasury or the IRS, the portion of the payments required to
be made to the Executive pursuant to this Section 6.02 and the portion of any other payments to be made to the Executive in connection with his involuntary separation from service which do not qualify for or otherwise exceed any such limit, as
determined by the Company in its sole discretion, shall be paid no later than the fifteenth (15th) day of the third (3rd) month
following the end of the tax year in which the date the termination of the Executive’s employment becomes effective. 
 (d) After the
amounts required to be paid to the Executive by Section 6.02(a) and Section 6.02(b) have been paid, the Company shall have no further obligation to pay the Executive any additional Base Salary, compensation or bonuses and, except as
otherwise provided in Section 6.06 hereof, no further obligation to pay to or to provide the Executive any other benefits. 
 6.03
Effect of Termination by the Executive. 

  
 11 

 (a)    (a) In the event that the Executive’s employment is terminated by
the Executive as permitted by Section 3.04 hereof, the Company shall pay to the Executive; (i) any installment of his Base Salary which is accrued and unpaid as of the date the termination of the Executive’s employment becomes
effective, less applicable payroll and withholding taxes, which payment shall be made in one lump sum on the first Pay Date following the effective date of such termination; and (ii) if the Executive is entitled to payment of an annual bonus
under the terms of the MICP for the calendar year ending immediately prior to the calendar year in which his employment is terminated and such bonus has not been paid to the Executive prior to the date his employment is terminated, the Company shall
pay the amount of any such bonus to the Executive, less applicable payroll and withholding taxes, on the same date that bonuses under the MICP for the calendar year ending immediately prior to the calendar year in which the termination of the
Executive’s employment becomes effective are paid. After the amount required to be paid to the Executive by the preceding sentence has been paid, unless the termination of the Executive’s employment is deemed to be a “Good Reason
Termination” (as defined in Section 3.04(b) hereof) or a “No-Fault Termination (as defined in Section 3.04(c) hereof), the Company shall have no further obligation to pay the Executive any additional Base Salary, compensation or
bonuses, and, except as otherwise provided by Section 6.06 hereof, no further obligation to pay to or provide the Executive any other benefits. 

(b) In the event that the Executive’s employment is terminated by the Executive as permitted by Section 3.04 hereof, and the
termination is determined to be a “Good Reason Termination” (as defined in Section 3.04(b) hereof) or a “No-Fault Termination” (as defined in Section 3.04(c) hereof), provided that, within forty-five (45) days
following the date the Company delivers a Waiver and Release to the Executive, the Executive executes and delivers such Waiver and Release to the Company and does not revoke such Waiver and Release as permitted by the Waiver and Release, the Company
shall pay to the Executive an amount equal to: (i) one and seventy five hundredths (1.75) multiplied by (ii) the Executive’s then applicable Base Salary, of which amount, an amount equal to the Executive’s then applicable
Base Salary shall be paid in twelve (12) consecutive calendar months and in substantially equal installments beginning on the Pay Date as determined pursuant to the following provisions of this Section 6.03(b) and the remaining portion of
which (equal to seventy five hundredths (.75) of the Executive’s Base Salary) shall be paid to the Executive in one lump sum payment, less applicable payroll and withholding taxes, on the Pay Date as determined pursuant to the following
provisions of this Section 6.03(b). If the date on which the termination of the Executive’s employment becomes effective occurs at any time during the period beginning on December 23 of a calendar year and ending on November 8 of
the immediately following calendar year, payment of the lump sum payment and the first installment of the Executive’s Base Salary provided for by the preceding sentence shall be made on the first Pay Date which occurs after the end of the eight
(8) day period beginning on the date the Executive delivers the executed Waiver and Release to the Company. In the event that the date on which the termination of the Executive’s employment becomes effective occurs at any time between
November 9 and December 22 of a calendar year, the date on which the payments required to be made to the Executive by the first sentence of this Section 6.03(b) shall begin (in the case of the installments provided for) and be made
(in the case of the lump sum payment provided for) shall be the first Pay Date which occurs after the end of the calendar year or, if later, the first Pay Date which occurs after the end of the eight (8) day period beginning on the date the
Executive 

  
 12 

 
delivers the executed Waiver and Release to the Company. 
 (c) Notwithstanding
anything to the contrary contained in Section 6.03(b), the payments to be made to the Executive pursuant to this Section 6.03 in connection with a termination of the Executive’s employment in a termination which is determined to be a
Good Reason Termination are intended to be exempt from Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) pursuant to Treasury Regulation Section 1.409A-1(b)(9)(iii). Accordingly, to the extent that the
payments to be made to the Executive pursuant to this Section 6.03 and any other payments payable to the Executive in connection with the Executive’s involuntary separation from service do not qualify for or otherwise exceed the limit set
forth in Treasury Regulation Section 1.409A-1(b)(9)(iii)(A) or any similar limit promulgated by the U.S. Treasury or the IRS, the portion of the payments required to be made to the Executive pursuant to this Section 6.03 and the portion of
any other payments to be made to the Executive in connection with his involuntary separation from service which do not qualify for or otherwise exceed any such limit, as determined by the Company in its sole discretion, shall be paid no later than
the fifteenth (15th) day of the third (3rd) month following the end of the tax year in which the date the termination of the
Executive’s employment becomes effective. 
 (d) After the amount, if any, required to be paid to the Executive pursuant to
Section 6.03(a) hereof and the amount, if any, required to be paid to the Executive pursuant to Section 6.03(b) hereof has been paid, the Company shall have no further obligation to pay the Executive any additional Base Salary,
compensation or bonuses and, subject to the provisions of Section 6.06 hereof, no further obligation to pay to or to provide the Executive any other benefits. 

6.04 Effect of Termination Due to Disability. In the event that the Executive’s employment with the Company is terminated as a
result of his suffering of a Total and Permanent Disability as described in Section 3.05 hereof, on the first Pay Date following the effective date of such termination, the Company shall pay to the Executive, less applicable payroll and
withholding taxes, any installment of his Base Salary which is accrued and unpaid as of the date the termination of the Executive’s employment becomes effective. In addition, if the Executive is entitled to payment of an annual bonus under the
terms of the MICP for the calendar year ending immediately prior to the calendar year in which his employment is terminated and such bonus has not been paid to the Executive prior to the date his employment is terminated, the Company shall pay the
amount of any such bonus to the Executive, less applicable payroll and withholding taxes, on the same date that bonuses under the MICP for the calendar year ending immediately prior to the calendar year in which the termination of the
Executive’s employment becomes effective are paid. After the amounts, if any, required to be paid to the Executive by the preceding provisions of this Section 6.04 have been paid, except as otherwise provided in Section 5.02 above and
in Section 6.06 hereof, the Company shall have no further obligation to pay the Executive any additional Base Salary, compensation, bonuses or other benefits. 

6.05 Effect of Retirement. In the event of the Retirement of the Executive as provided for in Section 3.06 hereof, the Company
shall pay to the Executive, less applicable payroll and withholding taxes, any installment of his Base Salary which is accrued and unpaid as of the date the termination of the Executive’s employment becomes effective. In addition, if the
Executive 

  
 13 

 
is entitled to payment of an annual bonus under the terms of the MICP for the calendar year ending immediately prior to the calendar year in which his employment is terminated and such bonus has
not been paid to the Executive prior to the date his employment is terminated, the Company shall pay the amount of any such bonus to the Executive, less applicable payroll and withholding taxes, on the same date that bonuses under the MICP for the
calendar year ending immediately prior to the calendar year in which the termination of the Executive’s employment becomes effective are paid. After the amounts, if any, required to be paid to the Executive by the preceding provisions of this
Section 6.05 have been paid, the Company shall have no further obligation to pay the Executive any additional Base Salary, compensation or bonuses and, except as otherwise provided in Section 6.06 hereof, no further obligation to pay to or
provide the Executive any other benefits. 
 6.06 Obligations Which Survive Termination. 

(a)    (a) Nothing in this Agreement shall be deemed to limit the Executive’s rights to receive or the obligation of
the Company to pay or provide for the Executive and his beneficiaries any benefits accrued by the Executive at any time under the terms of the Company’s 401(k) plan. 

(b) If the Executive’s employment is terminated for “Cause” or by the Executive in a termination which does not constitute a
“Good Reason Termination” or a “No-Fault Termination”, the Executive shall not be entitled to receive any portion of the annual cash bonus that would be payable to the Executive for the year in which his employment is terminated.

 (c) If the Executive’s employment is terminated due to his Retirement, the Executive shall be entitled to receive a pro-rata portion
of the annual cash bonus he would have been entitled to receive under the MICP had his employment continued through the end of the calendar year in which his employment is terminated. Payment of such pro-rata portion shall be made to the Executive
on the same date and under the same terms that annual cash bonuses for the calendar year in which the Executive’s employment is terminated are paid under the terms of the MICP. 

(d) In connection with any termination of the Executive’s employment by the Company for a reason other than for “Cause” or a
termination of the Executive’s employment by the Executive which is a “Good Reason Termination” or a “No-Fault Termination”, notwithstanding anything to the contrary contained in any equity based compensation awards made to
the Executive on or after the date hereof, including, but not limited to, restricted stock unit awards held by the Executive in connection with his participation in the MSPP, and restricted stock units held by the Executive in connection with his
participation in the LTIP, the Executive shall be entitled to full accelerated vesting of all then outstanding restricted stock units and stock options and where applicable, payment of cash or common stock of the Company therefor, but, in any case,
only to the extent that the amounts required to be paid to the Executive under the terms of any such equity based compensation awards have not been paid prior to the date the termination of the Executive’s employment becomes effective. With
respect to performance stock units held by the Executive where the performance period has not yet been 

  
 14 

 
completed, the number of performance stock units will be determined after the completion of the performance period based on the achievement of the performance targets contained in the award, and
the amount payable will be paid to the Executive within seventy five (75) days after the completion of the performance period or, if later, at the end of the eight (8) day period beginning on the date the Executive delivers the executed
Waiver and Release to the Company provided that the Executive has not revoked the Waiver and Release during such period. The amount of the payment to be made to the Executive with respect to the performance stock units for which the performance
period has not been completed as of the date the termination of the Executive’s employment becomes effective shall be equal to the number of performance units earned (as determined after the end of the applicable performance period) multiplied
by the average of the closing prices per share of the Company’s common stock for the 90 calendar days of the year immediately preceding the date payment of the performance stock unit award is made to the Executive. With respect to performance
stock units held by the Executive where the performance period has been completed as of the date the termination of the Executive’s employment becomes effective, the amount payable to the Executive with respect to such performance stock unit
award will be paid to the Executive within 30 days after the completion of the performance period for such performance stock units or, if later, at the end of the eight (8) day period beginning on the date the Executive delivers the executed
Waiver and Release to the Company provided that the Executive has not revoked the Waiver and Release during such period. The amount of the payment to be made to the Executive with respect to the performance stock units for which the performance
period has been completed as of the date the termination of the Executive’s employment becomes effective shall be equal to the number of performance units earned (as determined after the end of the applicable performance period) multiplied by
the average of the closing prices per share of the Company’s common stock for the 90 calendar days immediately preceding the date the termination of the Executive’s employment becomes effective. For avoidance of doubt, the payments to be
made to Executive in connection with performance stock units shall be made in accordance with the timing set forth above, however, for purposes of compliance with Section 409A, payments shall be paid during the calendar year that begins
following the end of the relevant performance period. Except as provided above with respect to payments to be made to the Executive in connection with performance stock units held by the Executive as of the date the termination of his employment
becomes effective, the time of the payment of cash or common stock of the Company which is payable to the Executive pursuant to the terms of any such equity based compensation awards made to the Executive under the terms of the Omnibus Plan shall be
determined pursuant to the provisions of such equity based compensation awards. 
 6.07 Section 280G. Payments under this
Agreement shall be made without regard to whether the deductibility of such payments (or any other payments to or for the benefit of the Executive) would be limited or precluded by Section 280G of the Internal Revenue Code of 1986, as amended
(the “Code”), and without regard to whether such payments (or any other payments) would subject the Executive to the federal excise tax levied on certain “excess parachute payments” under Section 4999 of the Code;
provided, that if the total of all payments to or for the benefit of the Executive (whether under this Agreement or otherwise), after reduction for all state and federal taxes (including the tax described in Section 4999 of the Code, if
applicable) with respect to such payments (“Executive’s total after-tax payments”), would be increased by the limitation or elimination of any payment under this Agreement, amounts

  
 15 

 
payable under this Agreement shall be reduced to the extent, and only to the extent, necessary to maximize the Executive’s total after-tax payments (the “required reduction
amount”). The determination as to whether and to what extent payments under this Agreement are required to be reduced in accordance with the preceding sentence shall be made at the Company’s expense by a Certified Public
Accountant selected by mutual agreement of the Company and the Executive (the “Outside Firm”). In the event of any mistaken underpayment or overpayment under this Section 6.07, as determined by the Outside Firm, the amount
of such underpayment or overpayment shall forthwith be paid to the Executive or refunded to the Company, as the case may be, with interest at 120% of the applicable Federal rate provided for in Section 7872(f)(2) of the Code. Any reduction
in payments required by this Section 6.07 shall be applied in the following order: (i) stock options or stock appreciation rights whose exercise price exceeds the fair market value of the optioned stock (“Underwater
Awards”) (ii) Full Credit Payments (as defined below) that are payable in cash, (iii) non-cash Full Credit Payments that are then taxable, (iv) non-cash Full Credit Payments that are not then taxable (v) Partial Credit
Payments (as defined below) and (vi) non-cash employee welfare benefits. In each case, reductions shall be made in reverse chronological order such that the payment or benefit owed on the latest date following the occurrence of the event
triggering the excise tax will be the first payment or benefit to be reduced (with reductions made pro-rata in the event payments or benefits are owed at the same time). “Full Credit Payment” means a payment, distribution or
benefit, whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise, that if reduced in value by one dollar reduces the amount of the parachute payment (as defined in Section 280G of the Code)
by one dollar, determined as if such payment, distribution or benefit had been paid or distributed on the date of the event triggering the excise tax. “Partial Credit Payment” means any payment, distribution or benefit that is not a
Full Credit Payment. In no event shall Executive have any discretion with respect to the ordering of payment reductions. 
 ARTICLE 7. 

Miscellaneous 
 7.01
Amendments. This Agreement may not be amended or modified orally, and no provision hereof may be waived, except in a writing signed by the parties hereto. 

7.02 Assignment. This Agreement cannot be assigned by either party hereto except with the written consent of the other. 

7.03 Binding Effect. This Agreement shall be binding upon and inure to the benefit of the personal representatives and successors in
interest of the Executive and any successors in interest of the Company. 
 7.04 Applicable Law. This Agreement shall be governed and
construed in accordance with the laws of the State of New York applicable to contracts made and to be performed wholly within such State except with respect to the internal affairs of the Company and its respective stockholders, which shall be
governed by the General Company Law of the State of Delaware. 

  
 16 

 7.05 Notices. All notices and other communications given pursuant to this Agreement shall
be deemed to have been properly given and received: (a) if delivered in person, on the date delivered to the Executive or, in the case of the Company, on the date delivered to the Senior Vice President – Human Resources; (b) if
delivered by mail, (5) U.S. business days following the deposit of any such notice in the U.S. mail system for mailing by certified mail or registered mail, postage prepaid, addressed to the Executive at the address first above written or if to
the Company, at its address first above written, attention Senior Vice President – Human Resources; and (c) if delivered by nationally recognized overnight delivery service, one U.S. business day following the date that such notice is
deposited with such nationally recognized overnight delivery service postage prepaid, addressed to the Executive at the address first above written or if to the Company, at its address first above written, attention Senior Vice President –
Human Resources. From time to time, any party hereto may designate by written notice any other address or party to which such notice or communication or copies thereof shall be sent. 

7.06 Severability of Provisions. In case any one or more of the provisions contained in this Agreement shall be invalid, illegal or
unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein shall not in any way be affected or impaired thereby and this Agreement shall be interpreted as if such invalid, illegal or
unenforceable provision was not contained herein. 
 7.07 409A Savings Clause. 

(a)    (a) Any payments under this Agreement that may be excluded from Section 409A of the Internal Revenue Code
of 1986, as amended (hereinafter “Section 409A”) either as separation pay due to an involuntary separation from service or as a short-term deferral shall be excluded from Section 409A to the maximum extent possible. For purposes of
Section 409A, each installment payment provided under this Agreement shall be treated as a separate payment. All provisions shall, to the maximum extent possible, be construed and interpreted in a manner which will cause such provisions to be
implemented in a manner which complies with the applicable requirements of Section 409A and the regulations promulgated thereunder so as to avoid subjecting the Executive to taxation under Section 409A(a)(i)(A) of the Internal Revenue Code
of 1986, as amended. 
 (b) Any payments to be made under this Agreement upon a termination of employment shall only be made if such
termination of employment constitutes a “separation from service” under Section 409A.” Notwithstanding any other provision of this Agreement, if at the time of the Executive’s termination of employment, he is a
“specified employee”, determined in accordance with Section 409A, any payments and benefits provided under this Agreement or otherwise that constitute “nonqualified deferred compensation” subject to Section 409A that
are provided to the Executive on account of his separation from service shall not be paid until the first payroll date to occur following the six-month anniversary of the Executive’s termination date (“Specified Employee Payment
Date”). The aggregate amount of any payments that would otherwise have been made during such six-month period shall be paid in a lump sum on the Specified Employee Payment Date without interest and thereafter, any remaining payments shall be
paid without delay in accordance with their original schedule. If the Executive dies during the six-month period, any delayed payments shall be paid to the Executive’s estate in a lump sum upon the Executive’s death. 

  
 17 

 (c) To the extent required by Section 409A, each reimbursement or in-kind benefit provided
under this Agreement shall be provided in accordance with the following: 
 (i) the amount of expenses eligible for
reimbursement, or in-kind benefits provided, during each calendar year cannot affect the expenses eligible for reimbursement, or in-kind benefits to be provided, in any other calendar year. 

(ii) any reimbursement of an eligible expense shall be paid to the Executive on or before the last day of the calendar year
following the calendar year in which the expense was incurred; and 
 (iii) any right to reimbursements or in-kind benefits
under this Agreement shall not be subject to liquidation or exchange for another benefit. 
 7.08 Headings. The headings of the
Sections and Articles of this Agreement are inserted for convenience only and shall not constitute a part hereof or affect in any way the meaning or interpretation of this Agreement. 

IN WITNESS WHEREOF, the Executive and the Company have caused this Agreement to be executed as of the day and year first above written. 

 

					
	GIBRALTAR INDUSTRIES, INC.	 		 	
			
	By: /s/ Paul Murray        	 		 	/s/ Frank Heard        
	Name: Paul Murray	 		 	Frank Heard
	 Title: Senior Vice President, Human

          Resources
	 		 	

  
  

  
 18

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