Document:

Long-Term Incentive Plan Non-Employee Director Stock Election Program

 Exhibit 10.17 
 FORTUNE BRANDS HOME & SECURITY, INC. 
 2011 LONG-TERM INCENTIVE
PLAN 
 NON-EMPLOYEE DIRECTOR STOCK ELECTION PROGRAM 
 1. Purpose of Program 
 The purpose of this Non-Employee Director Stock
Election Program (the “Program”), adopted and administered under the Fortune Brands Home & Security, Inc. 2011 Long-Term Incentive Plan (the “LTIP”), is to enable non-employee directors (as defined below)
of Fortune Brands Home & Security, Inc. (the “Company”) to elect to receive shares of common stock of the Company (“Common Stock”) in lieu of the cash retainers payable to them for their service on the
Board of Directors of the Company (the “Board”). 
 2. Administration of Program 

The Program shall be administered by the Nominating and Corporate Governance Committee of the Board (the “Committee”).
The Committee shall have the power and authority to administer, construe and interpret the Program, to make rules for administering the Program and to make changes in such rules. 
 3. Participation 
 All non-employee directors shall be eligible to
participate in the Program. The term “non-employee director” means a member of the Board who, at the time of performance of the services relevant to payment under the Program, is not an employee of the Company or any of its subsidiaries.

 4. Election to Receive Fees in Common Stock 
 (a) The Company generally pays certain fees, including, but not limited to, an annual retainer, committee membership fees and chairperson fees, to non-employee directors in cash. Each non-employee
director shall have the right to elect, at any time, subject to the Company’s general policies with respect to “quiet periods” and investment elections during such quiet periods, to receive payment of all such fees in shares of Common
Stock, and shall have the right, at any time, to reverse such an election, by filing with the Committee, or such person as the Committee shall designate, a Payment Election Form, as attached hereto as Exhibit A. Any election to receive fees in
shares of Common Stock, or any reversal of such an election, will become effective for the next regularly scheduled quarterly payment after the date the Payment Election Form is filed with the Company, except that if the Payment Election Form is
filed at the time a director is first elected to the Board, then such election shall be effective for the director’s first payment. 
 (b) If an election is made pursuant to Section 4(a) of the Program then, after the election becomes effective, the Company shall pay any amounts due to the non-employee director that are subject to
the election in whole shares of Common Stock, except that the value of any fractional share shall be paid in cash. The number of shares of Common Stock to be issued to the non-employee director shall be equal to a fraction, the numerator of which is
the amount to be 

 
paid to the non-employee director and the denominator of which is the closing price of the Common Stock on the New York Stock Exchange (or such other national exchange on which the stock is
listed) on the first day of trading at the beginning of the quarter in which the payment is scheduled to be made. To eliminate any fractional shares, to the extent the fraction is not equal to a whole number, it shall be rounded down to the next
whole number, which shall be subtracted from the amount to be paid to the non-employee director and the difference shall be paid to the non-employee director in cash on an annual basis. 
 5. Limitations and Conditions 
 (a) The shares of Common Stock issued to
non-employee directors under the Program may consist, in whole or in part, of authorized but unissued shares or shares held in the Company’s treasury. Shares issued under the Program shall be, and hereby are deemed to be, granted pursuant to
the LTIP or any other equity compensation plan subsequently adopted by the Company. 
 (b) Prior to each issuance to a
non-employee director of shares of Common Stock pursuant to the Program, such non-employee director must make representations satisfactory to the Committee to the effect that such shares are to be held for investment purposes and not with a view to
or for resale or distribution except in compliance with the Securities Act of 1933, as amended (the “Securities Act”), and must give a written undertaking to the Company in form and substance satisfactory to the Committee that he or
she will not publicly offer or sell or otherwise distribute such shares other than (i) in the manner and to the extent permitted by Rule 144 promulgated by the Securities and Exchange Commission under the Securities Act, (ii) pursuant to
any other exemption from the registration provisions of the Securities Act or (iii) pursuant to an effective registration statement thereunder. 
 (c) Nothing contained herein shall be deemed to create the right in any non-employee director to remain a member of the Board, to be nominated for reelection or to be reelected as such or, after ceasing
to be such a member, to receive any shares of Common Stock under the Program to which he or she is not already entitled with respect to any year. 
 6. Stock Adjustments 
 In the event of any merger, consolidation, stock or
other non-cash dividend, extraordinary cash dividend, split-up, spin-off, combination or exchange of shares, reorganization or recapitalization or change in capitalization, or any other similar corporate event, the Committee may make such
adjustments in the number and kind of shares that shall be issued under the Program, as the Committee shall deem appropriate in the circumstances. The determination by the Committee as to the terms of any of the foregoing adjustments shall be
conclusive and binding. 
 7. Amendment and Termination 
 The Board shall have the power to amend or terminate the Program at any time, subject to stockholder approval requirements under applicable laws; provided, however, that, to be effective, any amendment of
the Program shall comply with the requirements of the rules and regulations promulgated under Section 16(b) of the Securities Exchange Act of 1934, as amended, to the extent necessary so that the receipt of shares of Common Stock by a
non-employee director under the Program shall be exempt from such Section 16(b). 

  
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 8. Miscellaneous 
 (a) Indemnification. Each person who is or has been a member of the Board will be indemnified and held harmless by the Company against and from any loss, cost, liability, or expense that may be
imposed upon or reasonably incurred by that person in connection with or resulting from any claim, action, suit, or proceeding to which that person may be a party or in which that person may be involved by reason of any action taken or failure to
act under the Program and against and from any and all amounts paid by that person in a settlement approved by the Company, or paid by that person in satisfaction of any judgment in any such action, suit, or proceeding against that person, provided
he or she gives the Company an opportunity, at its own expense, to handle and defend the action, suit or proceeding before that person undertakes to handle and defend it. The foregoing right of indemnification will not be exclusive of any other
rights of indemnification to which an individual may be otherwise entitled, or any power that the Company may have to indemnify him or her or hold him or her harmless, to the fullest extent permitted under Delaware law. 

(b) Gender and Number. Except where otherwise indicated by the context, any masculine term used herein will also include the
feminine; the plural will include the singular and the singular will include the plural. 
 (c) Severability. If any
provision of the Program is held illegal or invalid for any reason, the illegality or invalidity will not affect the remaining parts of the Program, and the Program will be construed and enforced as if the illegal or invalid provision had not been
included. 
 (d) Requirements of Law. The issuance of payments under the Program will be subject to all applicable laws,
rules, and regulations, and to any approvals required by any governmental agencies or national securities exchanges. 
 (e)
Unfunded Status of the Program. The Program is intended to constitute an “unfunded” plan. With respect to any payments not yet made to a non-employee director by the Company, nothing contained herein will give any rights to a
non-employee director that are greater than those of a general creditor of the Company. 
 (f) Governing Law. The Program
will be construed in accordance with and governed by the laws of the State of Delaware, determined without regard to its conflict of law rules. 

9. Effective Date 
 The
Program shall be effective as of January 1, 2012. 

  
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 FORTUNE BRANDS HOME & SECURITY, INC. 

NON-EMPLOYEE DIRECTOR STOCK ELECTION PROGRAM 
 PAYMENT ELECTION FORM 
 As
of                , 20            , the individual whose name appears below, who is a non-employee
director of Fortune Brands Home & Security, Inc. (the “Company”), executes this election (the “Payment Election Form”) with respect to cash retainers payable to him or her described in section 4(a) of the
Fortune Brands Home & Security, Inc. Non-Employee Director Stock Election Program (the “Program”). Any term capitalized herein but not defined will have the meaning set forth in the Program. 

In accordance with the terms of the Program and to the extent permitted by the Program, the non-employee director hereby elects to
receive all cash retainers described in section 4(a) of the Program payable to him or her, in their entirety, in the following form: 
                 Common Stock 
 OR 

                Cash 

This election will become effective for the next regularly scheduled quarterly payment date after the date this Payment Election Form is
filed with the Company. Unless the Payment Election Form is being filed at the time of my election to the Board of Directors, then such election will become effective for the first payment made to me. This Payment Election Form will, upon becoming
effective, supersede any prior Payment Election Form filed by the non-employee director. If no Payment Election Form is filed by the non-employee director, or if a Payment Election Form is internally inconsistent or conflicts with a concurrent
Payment Election Form, payment under the Plan will be made to the non-employee director in cash. 
 IN WITNESS WHEREOF, the
non-employee director has duly executed this Payment Election Form as of the date first written above. 
  

	
	  
	Non-Employee Director’s Signature
	
	 
	Non-Employee Director’s Name (please print)

  
 4Amended and Restated Employment Agreement - Andrew H. Tisch

Exhibit 10.05

 
 
 
 AMENDED AND RESTATED
 EMPLOYMENT AGREEMENT
 
 

 
 AGREEMENT (this “Agreement”) made as of the 14th day of
February 2012 between LOEWS CORPORATION (the “Company”) and ANDREW H. TISCH (the “Executive”).

 
 W I T N E S S E T H:
 
 

WHEREAS, the
Executive is currently serving as an executive employee of the Company pursuant to that certain Amended and Restated Employment Agreement dated as of February 25, 2008 between the Company and the Executive (as the same has been amended through the
date hereof, the “Existing Agreement”); and
 
 

WHEREAS, the
Company and the Executive desire that the Executive’s employment be continued and that the Existing Agreement be amended and restated on the terms and conditions set forth herein.

 
 NOW, THEREFORE, in consideration of the premises and the covenants and agreements hereinafter set forth, the parties agree as
follows:
 
 
 1.      Term of
Employment.  The Company does hereby engage and employ the Executive and the Executive hereby accepts such Employment in an executive capacity, for a term commencing on the date hereof and continuing through March 31, 2013 (the
“Term”).
 
 
 2.      Duties.  The
Executive accepts such employment and agrees that the Executive shall be employed as a senior executive officer of the Company and as such shall perform the duties which he heretofore performed as a senior executive officer of the Company and such
other duties, as may be required of him from time to time by the Board of Directors in keeping with his position as a senior executive officer of the Company.  His office will be in New York City.

 
 3.      Other
Activities.  The Executive hereby agrees that during the Term he will not render services for any person, firm or corporation other than the Company and its subsidiary and affiliated corporations; provided, however, that the
Executive may continue to devote a reasonable portion of his time and attention to supervision of his own investments, to charitable and civic activities and to membership on the Board of Directors or Trustees of other non-competitive companies or
organizations, but only to the extent that the foregoing does not, in the aggregate, (a) require a significant portion of the Executive’s time or (b) interfere or conflict with the performance of the Executive’s services under this
Agreement.
 
 
 4.      Compensation.  
As basic compensation (“Basic Compensation”) for all of his services to the Company and its subsidiaries hereunder, the Company will pay or cause to be paid to the Executive, during the term of his employment, a salary at the rate of Nine
Hundred Seventy Five Thousand ($975,000) Dollars per annum, payable in accordance with the Company’s customary payroll practices, as in effect from time to time, and shall be subject to such increases as the Board of Directors of the Company,
in its sole discretion may from time to time determine.  In addition to Basic Compensation, the Executive shall participate in the Incentive Compensation Plan for Executive Officers of the Company (the “Compensation Plan”) and
shall be eligible to receive incentive compensation under the Compensation Plan as may be awarded in accordance with its terms. The compensation provided pursuant to this Agreement shall be exclusive of compensation and fees, if any, to which the
Executive may be entitled as an officer or director of a subsidiary of the Company.
 
 

5.   
   Benefits.  The Executive shall be entitled to participate in all employee benefit plans from time to time provided by the Company during the Term which are
generally available to the executive employees of the Company and as to which the Executive shall be eligible in accordance with the terms of such plans.
 
 

6.   
   Confidential Information.  The Executive shall keep confidential and shall not at any time reveal to anyone outside of the Company any confidential or
proprietary information, know-how or trade secrets (except as may be required in the furtherance of the Company’s business or objectives) pertaining to the business of the Company or any of its subsidiaries or affiliates.  This
obligation shall survive the termination of this Agreement and the employment of the Executive by the Company and its breach or threatened breach may be enjoined in any court of competent jurisdiction.

 
 7.      Miscellaneous.  
This Agreement sets forth the entire understanding between the parties with respect to the subject matter hereof and supersedes all prior understandings and agreements.  No change, termination or waiver of any of the provisions hereof shall
be binding unless in writing and signed by the party against whom the same is sought to be enforced.  The headings of the Agreement are for convenience of reference only and do not limit or otherwise affect the meaning
hereof.  The Agreement shall be governed by and construed in accordance with the laws of the State of New York.
 
 

IN WITNESS WHEREOF,
the parties hereto have caused these presents to be duly executed as of the day and year first above written.
 
 
 
 
 
	
     
 	
     
 	 LOEWS CORPORATION
 

 
 
 
 
	
     
 	
     
 	  	  
	
     
 	
     
 	  	  
	
     
 	
     
 	 By:
 	 /s/  Gary W. Garson
 
	
     
 	
     
 	  	
      Gary W. Garson
 
	
     
 	
     
 	  	
      Senior Vice President
 
	      

	
     
 	  	
     
 
	 Accepted and Agreed to:
 	
     
 	  	
     
 
	  	
     
 	  	
     
 
	 /s/ Andrew H. Tisch
 	
     
 	  	
     
 
	 Andrew H. Tisch

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