Document:

Key Management Severance Agreement with Stephen K. Krull

 Exhibit 10.21 
 KEY MANAGEMENT SEVERANCE AGREEMENT 
 This Severance Agreement (the “Agreement”) is made as
of December 1, 2008 by and between OWENS CORNING, a Delaware corporation and its subsidiaries (the “Company”), and Stephen K. Krull, an officer of the Company (“Executive”). 
 WHEREAS the Company desires to provide Executive with certain severance pay and benefits, and to expose Executive to confidential Company
information, each in exchange for Executive’s commitment to keep such information confidential and to not engage in competitive activities with the Company for the duration of Executive’s employment and for two years thereafter;

 WHEREAS the Compensation Committee of the Board of Directors of the Company (the “Committee”) has approved this Severance
Agreement to provide Executive with certain severance pay, benefits and privileges on the termination of Executive’s employment as described below; 
 NOW THEREFORE, the parties hereto agree as follows: 
  

	1.	Company Initiated Termination For Reasons Other than Cause and Unsatisfactory Performance. If the Company terminates Executive’s employment for any reason other than
Unsatisfactory Performance or Cause (as defined in paragraphs 10(g) and 10(b), respectively), or Executive voluntarily terminates Executive’s employment under circumstances involving a Constructive Termination, as defined in paragraph 10(d),
Executive will be entitled to the following compensation, provided that Executive executes a Release and Non-Competition Agreement satisfactory to the Company: 

  

	 	a.	Severance payment in an amount equal to Base Pay, as defined in paragraph 10(a); and 

  

	 	b.	Separation Incentive Payment, as defined in paragraph 10(e). 

  

	2.	Company Initiated Termination For Unsatisfactory Performance. If the Company terminates Executive’s employment for Unsatisfactory Performance, as defined in paragraph
10(g), Executive will be entitled only to the following compensation, provided that Executive executes a Release and Non-Competition Agreement satisfactory to the Company: 

  

	 	a.	Severance payment equal to 50% of Base Pay, as defined in paragraph 10(a); and 

  

	 	b.	Severance payment equal to 50% of a Separation Incentive Payment, as defined in paragraph 10(e). 

  

	3.	Company Initiated Termination For Cause. If the Company terminates Executive’s employment for Cause, as defined in paragraph 10(b), Executive will be entitled only to
base salary earned and as yet unpaid through the effective date of termination. 

  

	 4.
	 Timing of Payments. Compensation payable under paragraphs 1 or 2 above after a Change of Control shall be paid in
a lump sum as soon as practicable after termination (no later than the 15th day of the third month following the termination). Compensation payable
under paragraphs 1 or 2 above absent a Change of Control will be made through the normal payroll cycle over 24 months. All payments will be made minus applicable withholdings. 

  

	5.	 Sale of Business. If Executive’s employment ends under circumstances described in paragraph 1 above in connection with the sale by the Company of a
subsidiary, business unit, division or facility, payments will be made under this Agreement only if Executive is not offered a position with materially equivalent base salary with the Company or with the new owner of the business (without regard to
whether Executive accepts such a position). If Executive receives and accepts a suitable offer from the new owner of the business and is subsequently terminated within one year of the closing date of the sale under circumstances that would result in
payment of benefits under this Agreement, Executive will be treated as though he had been terminated by 

  

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the Company and receive the payments provided for in this Agreement, less any amounts or benefits provided by the new owner in connection with
Executive’s termination. 

  

	6.	Termination For Other Reasons. If Executive voluntarily terminates employment including by reason of retirement (other than as provided in paragraph 1 above with regard to
Constructive Termination), or if Executive’s employment terminates due to death or Permanent Total Disability, Executive shall not be entitled to any benefits under this Agreement. 

  

	7.	Continuation of Insurance Benefits. In the event Executive’s employment terminates under the circumstances described in paragraph 1 or 2 of this Agreement, the Company
will continue Executive’s participation and coverage for a period of one year or six months, respectively (the “Severance Period”) from Executive’s last day of employment with the Company under the Company’s medical and
dental plans, in which Executive is participating immediately prior to such employment termination, subject to the Company’s right to modify the terms of the plans or arrangements providing these benefits. If Executive is employed by another
entity during the Severance Period, the Company will immediately become a secondary obligor. 

  

	8.	Non-Duplication of Benefits. Any compensation or benefits payable under the terms of this Agreement will be offset and not augmented by other compensation or benefits of the
same or similar type payable under local laws of the Executive’s country, any existing plan or agreement of the Company or any other arrangement between Executive and the Company covering the Executive (including, but not limited to, any
Company severance policy and the Company’s Annual Incentive Plan). It is intended that this Agreement not duplicate benefits Executive is entitled to under country “redundancy” laws, the Company’s regular severance policy, any
related policies, or any other contracts, agreements or arrangements between Executive and the Company. 

  

	9.	Term. This Agreement shall be effective from the date hereof throughout Executive’s term of employment as an officer of the Company, but shall expire and be of no effect
immediately after the second anniversary of either: (a) a Change of Control or (b) written notice of intent to terminate this Agreement by the Company’s Chief Executive Officer, whichever shall occur first. Executive’s
Confidentiality, Non-Solicitation and Non-Competition obligations set forth herein shall survive the termination or expiration of this Agreement, provided however, that if Executive has become entitled to any payments pursuant to this Agreement
before such second anniversary which have not been paid by such second anniversary, such payments shall be made pursuant to the terms of this Agreement. 

  

	10.	Certain Defined Terms. As used herein, the following terms shall have the following meanings: 

  

	 	a)	“Base Pay” shall mean the greater of two times the annual salary paid to Executive as of the date of termination or the date of a Change of Control, as the case may be,
notwithstanding any pay reduction that may be related to a Constructive Termination. 

  

	 	b)	“Cause” shall mean: 

  

	 	1)	Conviction of any felony or failure to contest prosecution of a felony; or 

  

	 	2)	Willful misconduct or dishonesty that is harmful to the Company’s business or reputation; or 

  

	 	3)	Serious violation of the Company’s Business Code of Conduct. 

  

	 	c)	“Change of Control” shall have the same meaning and definition as set forth in the 2006 Stock Plan approved by the shareholders, and is incorporated herein by reference.

  

	 	d)	“Constructive Termination” shall be deemed to have occurred only if: 

  

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	 	1)	Prior to a Change of Control: Executive’s Base Pay is materially reduced without Executive’s written consent; or 

  

	 	2)	On or within a two-year period after a Change of Control: (A) Executive’s Base Pay or annual incentive pay opportunity is materially reduced without Executive’s
written consent; (B) Executive is required by the Company to relocate to a new place of business that is more than fifty miles from Executive’s place of business prior to the Change of Control (or the Company mandates a substantial
increase in the amount of required business travel); or (C) there is a material adverse change in Executive’s duties or responsibilities in comparison to the duties or responsibilities which Executive had prior to the Change of Control;
and 

  

	 	3)	The amount, time and form of any payment on account of the constructive termination must be substantially identical to that which would be paid due to an actual involuntary
termination, to the extent such a right exists; and 

  

	 	4)	The Executive is required to notify the Company that one of the constructive termination triggers described above exists within a period not to exceed 90 days of the time Executive
becomes aware the trigger first existed and the company has 30 days from such notice to cure any Constructive Termination. 

  

	 	e)	“Separation Incentive Payment” shall equal two times Executive’s Target Incentive Level in the Company’s annual, Corporate Incentive Plan (CIP) immediately prior
to termination. 

  

	 	f)	“Target Incentive Level” shall be the greater of: (i) Executive’s annual Base Pay multiplied by Executive’s participation rate under the Company’s
Corporate Incentive Plan for the year of termination, or (ii) the payment Executive would have received under such Plan for the year of termination based on projected corporate performance for such year as determined by the Committee in its
sole discretion at the time of the Change of Control. 

  

	 	g)	“Unsatisfactory Performance” shall exist if, prior to a Change in Control, Executive continuously fails to substantially satisfy performance expectations as an Executive
of the Company, unless within three months after notice has been provided to Executive by the Company, Executive cures such continued failure to perform. 

  

	11.	Unpaid Compensation. Regardless of the reason for Executive’s termination of employment, in addition to any benefits that may be payable to Executive hereunder,
Executive will be entitled to: (a) base salary earned but unpaid through Executive’s last date of employment; (b) incentive pay as yet unpaid from the prior years and the year of termination, prorated for the period of
Executive’s actual employment prior to termination, consistent with applicable plan documents; (c) benefits to which Executive is independently entitled under the terms of the Company’s salaried employee benefit plans and
(d) vesting of outstanding equity grants (if any) consistent with the applicable Stock Plan and any grant agreements executed by Executive. 

  

	12.	Outplacement Assistance. The Company will arrange outplacement assistance for Executive in cases of terminations described in paragraphs 1 or 2 of this Agreement. Such
assistance shall continue for up to one year following Executive’s termination or until such time as suitable employment is attained, whichever is sooner. The Company will identify at least two service providers from which Executive choose one.
Outplacement costs incurred in this connection will be borne by the Company, but will not include costs of travel to/from the outplacement firm or in connection with job interviews, etc. In no event will the Company pay Executive cash in lieu of
outplacement assistance. 

  

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	13.	Confidentiality. Consistent with Executive’s preexisting legal and contractual obligations and in exchange for the consideration provided by the Company in this
Agreement and for Executive’s continued employment and exposure to confidential information at the Company, Executive agrees to hold in strict confidence and not to use or disclose to any other person any confidential or proprietary information
of the Company, including, without limitation, trade secrets, formulas for Company products, production techniques or processes or methods and apparatus for producing any products of the Company, or other non-public information relating to the
business, research and development, employees and/or customers of the Company and its subsidiaries and affiliates, except to the extent required by law, or with the written consent of the Company. Executive will, immediately on termination, deliver
to the Company all files containing data, correspondence, books, notes, and other written, graphic or computer records and return any samples or other materials under Executive’s control relating to the Company or its subsidiaries or
affiliates, regardless of the media in which they are embodied or contained and delete any such information under Executive’s control. 

  

	14.	Agreement Not To Compete. In exchange for the consideration provided by the Company in this Agreement as well as Executive’s continued employment and exposure to
confidential information at the Company, Executive agrees not to, directly or indirectly, for a period of two years following Executive’s termination of employment, engage or participate in any business that is involved in research or
development activities or in the manufacturing or sale of any product or service which competes with any of the Company’s products or services, except with the written consent of the Company. In accordance with paragraphs 1, 2 and 4 of this
Agreement, upon resignation or termination, Executive agrees to execute a separate Release and Non-Competition Agreement in a form acceptable to the Company to memorialize this agreement and understands that the failure to do so will not alter the
survival of Executive’s non-compete obligation but will render Executive ineligible for any severance pay or other benefits, whether set forth in this Agreement or otherwise. 

  

	15.	Agreement Not To Solicit Employees. In exchange for the consideration provided by the Company in this Agreement as well as Executive’s continued employment and exposure
to confidential information and employees of the Company, Executive shall not directly or indirectly solicit, induce, recruit or encourage any of the Company’s employees to leave their employment for a period of two years following
Executive’s termination or resignation from employment. 

  

	16.	Agreement Not To Solicit Customers, Business or Suppliers. In exchange for the consideration provided by the Company in this Agreement as well as Executive’s continued
employment and exposure to confidential information, for a period of two years following Executive’s termination or resignation from employment Executive shall not directly or indirectly solicit, divert or take away, or attempt to solicit,
divert or take away, any customers, business or suppliers of the Company upon whom Executive called, serviced, or solicited, or with whom Executive became acquainted as a result of Executive’s employment with the Company.

  

	17.	No Disparagement. Executive shall not, at any time during or within two years following Executive’s termination or resignation from employment: (i) make any public
disclosures or publish any articles or books about Company, its business or any Company officer or employee, or grant an interview to any representative of the public media, without the prior written consent of the General Counsel, or
(ii) publish any statement or make any disclosure about the Company, its business or any Company officer or employee that is disparaging, derogatory or otherwise casts a bad light on Company, its business or any Company officer or employee. The
Company will likewise refrain from disparaging Executive. 

  

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	18.	Employment Relationship. This Agreement reflects the circumstances under which Executive may become entitled to certain severance pay and benefits, and does not alter the
employment relationship. Executive may elect to terminate the employment relationship with the Company, with or without cause or notice, and the Company may do the same. 

  

	19.	Mutual Release and Indemnity. In the event of Executive’s termination under circumstances described in paragraphs 1 or 2 of this Agreement, the Company agrees to release
and discharge Executive from any claim it may then or thereafter have against Executive with respect to employment with the Company (other than with regard to Executive’s obligations under this Agreement), and agrees to indemnify Executive in
accordance with its then current policies or practices for active employees for any claims made against Executive by third parties arising out of the proper performance of Executive’s duties as an employee of the Company. In exchange for the
consideration provided by the Company in this Agreement, together with the Company’s release and indemnity, Executive agrees to release and discharge the Company, and its subsidiaries, affiliates, officers, directors, employees and agents (the
“Released Persons”) from any claim that Executive may then or thereafter have against the Company or such Released Persons (excluding any claim for the compensation, benefits and privileges described herein) arising out of or in connection
with Executive’s employment or termination of employment by the Company or any of its subsidiaries or affiliates. On termination, Executive agrees to execute a separate Release and Non-Competition Agreement in a form acceptable to the Company
to memorialize this agreement and understands that the failure to do so will render Executive ineligible for any severance pay or benefits, whether set forth in this Agreement or otherwise. 

  

	20.	Adequacy. Executive acknowledges and agrees that the restrictions contained in this Agreement are necessary to protect the legitimate interests of the Company, and impose no
undue hardship on Executive and Executive further acknowledges and agrees the compensation provided hereunder as being adequate. Executive acknowledges and agrees that a breach or threatened breach of any of the provisions of this Agreement will
result in irreparable injury to the Company and that remedies at law are inadequate, and the Company may seek the issuance of a restraining order, preliminary restraining order or injunction which arises or results from, or relates to, directly or
indirectly, any violation of this Agreement. Additionally, the Company may proceed at law to obtain such other relief as may be available. 

  

	21.	Severability. Whenever possible each provision and term of this Agreement shall be interpreted in such manner as to be effective and valid under applicable law, but if any
provision or term of this Agreement shall be held to be prohibited by or invalid under such applicable law, then such provision or term shall be ineffective only to the extent of such prohibition or invalidity, without invalidating or affecting in
any manner whatsoever the remainder of such provision or term, or the remaining provisions or terms of this Agreement. The parties recognize it is also to their mutual benefit to make certain conforming legal changes, such as those required by
Section 409(a) of the Internal Revenue Code, in accordance with paragraph 22 of this Agreement. 

  

	22.	Modification and Waiver of Breach. No waiver or modification of this Agreement shall be binding unless it is in writing, signed by the parties hereto. No waiver of a breach
hereof shall be deemed to constitute a waiver of a further breach, whether of a similar or dissimilar nature. 

  

	23.	 Assignment. This Agreement shall be binding upon and inure to the benefit of any successors of the Company. As used herein, “successors” shall
include any person, firm, corporation or other business entity which at any time, whether by merger, purchase or otherwise, acquires all or substantially all of the assets or business of the Company. Executive’s agrees that Company may assign
or transfer its rights hereunder pursuant to a merger or consolidation in which the Company is not the continuing entity, or a sale, liquidation or other disposition of all or substantially all of the assets of the Company, provided that the
assignee or transferee is the 

  

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successor to all or substantially all of the assets of the Company and assumes the liabilities, obligations and duties of the Company under this Agreement,
either contractually or as a matter of law. No rights or obligations of the Executive under this Agreement may be assigned or transferred by the Executive, without the Company’s prior written consent, other than Executive’s rights to
compensation and benefits, which may be transferred only by will or operation of law; provided, however that the Executive shall be entitled, to the extent permitted under applicable law or relevant plans, to select and change a beneficiary or
beneficiaries to receive any compensation or benefit hereunder following Executive’s death by giving the Company written notice thereof. In the event of the Executive’s death or a judicial determination of Executive’s incompetence,
references in this Agreement to the Executive shall be deemed, where appropriate, to refer to Executive’s beneficiary or beneficiaries, estate or other legal representative. 

  

	24.	Notice. Any written notice to be given hereunder to Executive may be delivered to Executive personally or shall be deemed to have been given upon deposit thereof in the U.S.
mail, certified mail, postage prepaid, addressed to Executive at the address as it shall appear on the records of the Company. 

  

	25.	Construction of Agreement. This Agreement is made and entered into in the State of Ohio and shall be construed under the laws of Ohio. 

  

	26.	Entire Agreement. This Agreement, consisting of 26 numbered paragraphs and six pages, constitutes the entire understanding between the parties with respect to
Executive’s severance pay, benefits and privileges in the event of a termination of Executive’s employment with the Company, superseding all negotiations, prior discussions and agreements, written or oral, concerning said severance
arrangements. This Agreement may not be amended except in writing by the parties hereto. 

 IN WITNESS WHEREOF, the parties
hereto have executed this Agreement as of the day and year first above written. 
  

	
	OWENS CORNING,
	
	 

	Michael H. Thaman
	Chairman of the Board and
	Chief Executive Officer

  

	
	Agreed to and accepted:
	
	 /s/ Stephen K. Krull

	Stephen K. Krull
	
	Date: 12/2/08

  

 6Executive Supplemental Benefit Plan, 2009 Restatement

 Exhibit 10.28 
 OWENS CORNING 
 EXECUTIVE SUPPLEMENTAL BENEFIT PLAN 
 2009 Restatement 
 This 2009 Restatement of the Executive Supplemental Benefit Plan, as amended and
restated effective as of January 1, 2009, provides individuals participating in the Plan with the full retirement benefits which they would have accrued under the Retirement Plan by reason of their employment with the Company, which cannot be
paid from the Retirement Plan due to the limits placed on the payment of such benefits by the Internal Revenue Code of 1986, as amended. 
 I. DEFINITIONS

  

	1.1	“Actuarial Equivalent” shall mean the method of determining benefit equivalence, as defined in the Retirement Plan. 

  

	1.2	“Administrator” shall mean such person as has been designated from time to time as the Administrator of the Retirement Plan. 

  

	1.3	“Board of Directors” shall mean the Board of Directors of Owens Corning. 

  

	1.4	“Code” shall mean the Internal Revenue Code of 1986, as amended. 

  

	1.5	“Company” shall mean Owens Corning, a Delaware corporation, and subsidiaries whose employees participate in the Retirement Plan. 

  

	1.6	“ERISA” shall mean the Employee Retirement Income Security Act of 1974, as amended. 

  

	1.7	“Participant” shall mean any individual who becomes eligible to participate in the Plan. 

  

	1.8	“Retirement Plan” shall mean the Owens Corning Cash Balance Pension Plan, which is part of the Owens Corning Merged Retirement Plan and is set forth in Attachment 1 to the
Owens Corning Merged Retirement Plan, as amended. 

  

	1.9	“Plan” shall mean this Executive Supplemental Benefit Plan, as amended. 

  

	1.10	“Separation from service” as used herein shall mean termination of active employment from the Company. 

  

	1.11	“Supplemental Benefit” shall mean any benefit payable under Article III of the Plan. 

 II. PLAN PARTICIPATION 
 Any individual who participates in the Retirement Plan and accrues benefits thereunder which
cannot be paid because of the application of Code section 401(a)(17) or 415 shall be a Participant in the Plan. A Participant becomes initially eligible to participate in the Plan as of the first day of the Plan year immediately following the first
year in which the Participant accrues a benefit under the Plan. An initial election with respect to the timing and form of the benefit under the Plan shall then be made within 30 days after that date and shall be applicable to all accrued amounts
including those accrued in the year immediately preceding the year in which the election is made. For those participant for which the initial election rule does not apply they shall be deemed to have elected the default timing and form of benefits
and receive payment of their benefits upon separation from service in the form of a lump sum payment. 
  

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 III. BENEFITS 
  

	3.1	Retirement Benefits. A Participant entitled to receive a benefit under the Retirement Plan shall be paid a Supplemental Benefit in an amount equal to the excess of
(1) the benefit, as computed under the Retirement Plan without regard to limits imposed by Code sections 401(a)(17) and 415, over (ii) the benefit which is actually paid or payable under the terms of the Retirement Plan.

  

	3.2	Pre-Retirement Death Benefits. If a Participant entitled to receive a benefit under the Retirement Plan dies prior to commencement of such benefits, his or her surviving
spouse or other beneficiary who is entitled to receive a death benefit computed and made payable under Article VI of the Retirement Plan shall be paid a Supplemental Benefit in an amount equal to the excess of (i) the death benefit, as computed
under Article VI of the Retirement Plan without regard to limits imposed by Code sections 401(a)(17) and 415, over (ii) the death benefit actually paid or payable under the terms of Article VI of the Retirement Plan. 

 

	3.3	Survivors and Beneficiaries. Payment to a Participant shall include payment on account of said Participant to his estate, beneficiary or survivor. 

IV. PAYMENT OF SUPPLEMENTAL BENEFITS 
  

	4.1	Payment in Cash from General Company Assets. Except as otherwise determined by the Compensation Committee of the Board of Directors, Supplemental Benefits shall be paid at
the time selected by the Participant in a Non-Qualified Retirement Pay Election Form (“Election Form”) completed within the time frame set forth in Article II above. If no such Election Form is completed, then benefits under the Plan shall
be paid within 60 days following separation from service. Benefits shall also be payable upon within 60 days following death or disability or upon a change of control. 

  

	4.2	Notwithstanding the foregoing, payment of benefits is subject to a special rule for separation from service of any “specified employee” under Code Section 409A.
Specifically, for any specified employee, the payment of benefits under the Plan and consistent with their completed Election Form cannot be made before the earlier of: (1) the date that is six months after the date of the specified
employee’s separation from service; or (2) the date of the specified employee’s death. 

  

	4.3	For those employees whose payment of benefits is subject to the six month delay for specified employees or deferred pursuant to their Election Form beyond the 60 day period
following their separation from service, the benefit amount at the time of actual payment shall include interest attributable for the period following their separation from service to until the later payment date. Such interest shall be credited at
the Cash Balance Plan Credit Rate under the Owens Corning Merged Retirement Plan. 

  

	4.4	Form of Payment. All Supplemental Benefits are to be paid in the form of payment selected by the Participant in a valid and complete Election Form, completed within the time
frame set forth in Article II above. If no such Election Form is completed, then benefits under the Plan shall be paid in an Actuarial Equivalent lump sum. 

 V. FORFEITURE OF SUPPLEMENTAL BENEFITS 
  

	5.1	 Disclosure of Proprietary Information. The Supplemental Benefits otherwise payable under the terms of this Plan shall be forfeited and the Company and the
Plan shall have no additional liability if a Participant discloses, divulges, publishes’ or otherwise reveals either directly or through another, to any person, firm or corporation, any knowledge or information concerning 

  

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any Company inventions, devices, technical data, strategic plans (business and technical), or financial data (including any data classified as “Secret
and Proprietary Information”), which knowledge or information has in any way been disclosed to or acquired by the Participant during the term of his employment with the Company. Such knowledge or information shall not include knowledge or
information which: 

  

	 	1.	Is or was in the public domain at the time of its disclosure to the Participant; or, 

  

	 	2.	Enters the public domain after the date of disclosure to the Participant except where such entry is a result of a breach by the Participant of this Section; or,

  

	 	3.	Is disclosed to the Participant by a third party having a bona fide right to make such disclosure, or is otherwise lawfully obtained from other sources; or,

  

	 	4.	Is disclosed to others by the Company without restriction. 

  

	5.2	Direct Competition with the Company. The Supplemental Benefits payable under the terms of this Plan shall be forfeited and the Company and the Plan shall have no further
liability to a Participant if said Participant directly or indirectly, in any capacity, performs any compensated service for, be employed by or become associated in any firm, corporation or partnership engaged in the manufacture, production or sale
of products which compete with products produced or sold by the Company. For the purposes of this Plan, products shall be limited to those which are manufactured, produced or sold by the Company as described in the Company’s most recent Annual
Report to its stockholders. 

  

	5.3	Discharge for Just Cause. The Supplemental Benefits otherwise payable under the terms of this Plan shall be forfeited and the Company and the Plan shall have no further
liability if the employment of said Participant by the Company is terminated or otherwise ceases for “Just Cause”. “Just Cause” shall mean discharge or resignation as the direct result of any act or omission which
constitutes a misdemeanor or a felony, or which clearly evidences fraud or dishonesty on the part of the Participant. 

 VI. PLAN
ADMINISTRATION 
  

	6.1	Administrator. This Plan shall be maintained, on a day-to-day basis, by the Administrator. The Administrator shall at all times serve at the pleasure of, and may at any time
be removed by action of the Board of Directors. The duties of the Administrator shall include, but shall not be limited to, maintaining Participant lists, notifying eligible employees of their status as Participants, distributing to Participants all
necessary information, and communicating, where necessary, with a Participant’s beneficiary or personal representative. The Administrator will also have full discretionary authority to interpret the provisions of the Plan and decide all
questions and settle all disputes which may arise in connection with the Plan, and may establish its own operative and administrative rules and procedures in connection therewith, provided such procedures are consistent with the requirements of
Section 503 of ERISA and the regulations thereunder. In addition, notwithstanding any other provision of this Plan to the contrary, the Plan shall be interpreted and payment of benefits shall be administered to the extent the Administrator in
his or her discretion deems necessary to comply with Code Section 409A. All interpretations, decisions and determinations made by the Administrator will be binding on all persons concerned. 

  

	6.2	Notice to Participants. All information provided to Participants by or at the direction of the Administrator shall be made in writing (or electronic form) and shall be
delivered using a method reasonably calculated to apprise Participants of their rights hereunder. 

  

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 VII. GENERAL PROVISIONS 
  

	7.1	Plan Excluded Under ERISA. The Plan is intended to be an unfunded “excess benefit plan,” (within the meaning of Section 3(36) of ERISA) to the extent the Plan
provides benefits in excess of the limits imposed by Code Section 415, and an unfunded plan providing “deferred compensation for a select group of management or highly compensated employees” (within the meaning of Sections 201(2),
301(a)(3), 401(a)(1), and 4021(b)(6) of ERISA) to the extent the Plan provides benefits in excess of other Code restrictions and/or limitations, and shall be interpreted and administered accordingly. 

  

	7.2	Laws of Ohio to Govern. This Plan shall be governed by the laws of the State of Ohio, to the extent not preempted by federal law. 

  

	7.3	Incorporation of Retirement Plan provisions by Reference. The provisions of the Retirement Plan, as such provisions may be amended, restated or succeeded from time to time,
are hereby fully incorporated by reference, but only to the extent a reference is made by this Plan to such provision or provisions and only to the extent that such provisions do not affect the timing or form of payment of benefits under the Plan.
The provisions of this Plan and the Election Form completed by the Participant shall govern the timing and form of payment under the Plan. 

  

	7.4	Benefits are Nonassignable. No Supplemental Benefit payable under the terms of this Plan may be pledged, assigned, anticipated or alienated in any way by any Participant,
beneficiary or personal representative. 

  

	7.5	No Accelerated Payment. No Participant, personal representative or beneficiary shall have any right to cause benefits otherwise payable under this Plan to be accelerated or
paid on any basis or in any form other than on the basis and in the form provided for under Articles III and IV hereof. 

  

	7.6	Amendment, Suspension or Termination of Plan. The Company reserves the right and power, by action of the Board of Directors or its delegate, to amend, suspend or terminate
this Plan, in whole or in part, at any time and from time to time; provided, however, that in no event shall the Company have the right to accelerate the timing of payment of benefits, to change the form of benefits as validly elected
by the Participant, or eliminate or reduce any Supplemental Benefit which has been accrued and become nonforfeitable under Article III hereof prior to such amendment, suspension or termination except with respect to payments made upon termination of
the Plan as permissible under Code Section 409A. 

 For purposes of determining the Supplemental Benefit which has been
accrued and become nonforfeitable on account of a Participant under Article III hereof as of any given date, such Supplemental Benefit shall be an amount equal to the lesser of (i) the Supplemental Benefit actually payable in cash to such
Participant under Article III hereof as of such date, or (ii) the Supplemental Benefit which would be payable to or on account of such Participant upon his actual retirement, disability or death, if this Plan were to remain in full force and
effect until such actual retirement, disability or death. 
  

	7.7	Obligation of Company. Each Participant (and beneficiary) will be an unsecured general creditor of the Company with respect to all benefits payable under the Plan.

  

	7.8	No Claim to Specific Benefits. Nothing in the Plan will be construed to give any individual rights to any specific assets of the Company, or any other person or entity.

  

	7.9	Vesting. If a Participant (or beneficiary) is not entitled to receive a benefit under the Retirement Plan because the benefit is not vested, the Participant (or beneficiary)
shall also not be entitled to receive benefits under the Plan. 

  

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	7.10	Limitation of Rights. Neither the establishment of the Plan, nor any amendment thereof, nor the payment of any benefits will be construed as giving any individual any legal
or equitable right against the Company or the Administrator. In no event will the Plan be deemed to constitute a contract between any employee and the Company or the Administrator. This Plan shall not be deemed to be consideration for, or an
inducement for the performance of, services by any employee. 

  

	7.11	Receipt and Release. Any payment under the Plan to any Participant (or beneficiary), or to any individual as described in Section 7.12 shall be in satisfaction of all
claims with respect to benefits under the Plan against the Company and the Administrator. 

  

	7.12	Payment for the Benefit of an Incompetent or Incapacitated Individual. If the Administrator determines that payments due to a participant under the Plan must be paid
to another individual because of a Participant’s incompetence or incapacitation, benefits under the Plan will be paid to that same individual designated for that purpose under the applicable provision of the Retirement Plan. Such payments shall
be made in the same time and manner as they would be made to the participant. 

  

	7.13	Nonduplication of Benefits. The benefits payable to a Participant under this Plan shall be reduced on an Actuarial Equivalent basis by the benefit such Participant earned
under any other nonqualified defined benefit plan, and which does not provide for a reduction of benefits under such plan, for benefits payable under this Plan, to the extent that the benefits under such plan were accrued upon the same Participant
service. 

  

	7.14	Social Security Tax. Subject to the requirements of Code Section 3121(v)(2) and the regulations thereunder, the Administrator has the full discretion and authority to
determine when Federal Insurance Contribution Act (“FICA”) taxes on a Participant’s Plan benefit or account are paid and whether any portion of such FICA taxes shall be withheld from the Participant’s wages or deducted from the
Participant’s benefit or account. 

 By virtue and in exercise of the amending power reserved to the Company by Section 7.6 of the
Plan and granted to the undersigned officer of the Company by resolution of the Company’s Board of Directors, the Plan is hereby amended and restated in its entirety, effective January 1, 2009, as reflected in this document entitled
“OWENS CORNING EXECUTIVE SUPPLEMENTAL BENEFIT PLAN, 2009 Restatement.” 
 The Company has caused the aforementioned amendment and
restatement to be executed on its behalf by the undersigned duly authorized officer this 22nd day of December, 2008. 
  

			
	Owens Corning
		
	By	 	 /s/ Joseph C. High

		 	Joseph C. High
		 	Senior Vice President – Human Resources

  

 5

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