Document:

Form of Letter Agreement to Purchase Warrants between Insiders & JMP Securities

 Exhibit 10.10 
  
                             , 2006 
  
 JMP Securities LLC 
 600 Montgomery Street, Suite 1100 
 San Francisco, CA 94111-2713 
  
 Builder Acquisition Corp. 
 4902 Alameda Boulevard, NE 
 Albuquerque, NM 87113 
  

	Re:	Builder Acquisition Corp. 

  
 Ladies and Gentlemen:
  
 This letter confirms the agreement of the undersigned to purchase warrants (“Warrants”) of Builder Acquisition Corp. (“Company”) included in the units
(“Units”) being sold in the Company’s initial public offering (“IPO”) upon the terms and conditions set forth herein. Each Unit is comprised of one share of common stock, par value $.0001 per share, of the Company (the
“Common Stock”) and one Warrant to purchase a share of Common Stock. The shares of Common Stock and Warrants will not be separately tradable until 90 days after the effective date of the Company’s IPO unless JMP Securities LLC
(“JMP Securities”) informs the Company of its decision to allow earlier separate trading.
  
 The undersigned agrees that on the date hereof it will enter into an irrevocable agreement or plan in accordance with the guidelines specified by Rule 10b5-1 under the Securities Exchange Act of 1934, as amended (the
“Exchange Act”), with an independent broker-dealer (the “Broker”) registered under Section 15 of the Exchange Act which is neither affiliated with the Company, JMP Securities nor part of the underwriting or selling group,
pursuant to which the Broker will purchase up to $                     of Warrants in the public marketplace for the undersigned’s
account during the forty-trading day period commencing on the later of (i) the date separate trading of the Warrants has commenced or (ii) 60 calendar days after the end of the restricted period under Regulation M, at market prices not to
exceed $1.20 per Warrant (“Maximum Warrant Purchase”). The undersigned shall instruct the Broker to fill such order in such amounts and at such times as the Broker may determine, in its sole discretion, during the forty-trading day
period described above.
  
 As of the date hereof, the undersigned represents and
warrants that it is not aware of any material nonpublic information concerning the Company or any securities of the Company and is entering into this agreement in good faith and not as part of a plan or scheme to evade the prohibitions of Rule
10b5-1. The undersigned agrees that while this agreement is in effect, the undersigned shall comply with the prohibition set forth in Rule 10b5-1(c)(1)(i)(C) against entering into or altering a corresponding or hedging transaction or position with
respect to the Company’s securities. The undersigned further agrees that it shall not, directly or indirectly, communicate any material nonpublic information relating to the Company or the Company’s securities to any employee of JMP
Securities or the Broker. The undersigned does not have, and shall not attempt to exercise, any influence over how, when or whether to effect purchases of Warrants pursuant to this agreement or the plan or agreement with the Broker. 
  
 The undersigned shall instruct the Broker to make, keep, and produce promptly upon request a
daily time-sequenced schedule of all Warrant purchases made pursuant to this agreement, on a transaction-by-transaction basis, including (i) size, time of execution, price of purchase; and (ii) the exchange, quotation system, or other
facility through which the Warrant purchase occurred. 
  
 The undersigned agrees
that the undersigned shall not sell or transfer the Warrants until the earlier of the consummation of a merger, capital stock exchange, asset acquisition or other similar business combination involving the Company and acknowledges that, at the
option of JMP Securities, the certificates for such Warrants shall contain a legend indicating such restriction on transferability, it being understood that the Warrants purchased will be non-callable by the Company as long as they are held by the
undersigned. 
  
 This letter agreement shall be governed by and interpreted and
construed in accordance with the laws of the State of New York applicable to contracts formed and to be performed entirely within the State of New York, without regard to the conflicts of law provisions thereof to the extent such principles and
rules would require or permit the application of the laws of another jurisdiction. The undersigned hereby agrees that any action, proceeding or claim against the undersigned arising out of or relating in any way to this Agreement shall be brought
and enforced in the courts of the State of New York or the United Stated District Court for the Southern District of New York, and irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive. The undersigned hereby waives any
objection to such exclusive jurisdiction and that such courts represent an inconvenience forum This Agreement shall be binding upon the undersigned and the heirs, successors and assigns of the undersigned.
  

	
	 Very truly yours,Summary of Non-Employee Director Compensation Arrangements

 Exhibit 10.1 
  
 SUMMARY OF NON-EMPLOYEE DIRECTOR COMPENSATION ARRANGEMENTS 
  
 Non-employee directors of United States Steel Corporation currently receive: 
  

	 	•	 	Annual Retainer - $100,000 

  

	 	•	 	Committee Membership Fees 

  

	 	•	 	Audit & Finance - $10,000 ($11,000 for Chairman) 

  

	 	•	 	Compensation & Organization - $5,000 ($6,000 for Chairman) 

  

	 	•	 	Corporate Governance & Public Policy - $5,000 ($6,000 for Chairman) 

  

	 	•	 	Meeting Fee (for each Board or Committee meeting) - $2,000 

  

	 	•	 	Presiding Director Retainer - $1,000 per year 

  
 Under the Deferred Compensation Program for Non-Employee Directors, a program under the 2005 Stock Incentive Plan, each non-employee director is required to defer
at least 70% of his or her annual retainer in the form of Common Stock Units, and may elect to defer up to 100%. A Common Stock Unit is what is sometimes referred to as “phantom stock” because initially no stock is actually issued.
Instead, a book entry account is kept for each director that shows how many Common Stock Units he or she has. When a director leaves the Board, he or she must take actual shares of common stock corresponding to the number of Common Stock Units in
his or her account. Each participating director’s deferred stock account is credited with Common Stock Units each January. The ongoing value of each Common Stock Unit equals the market value of the common stock. When dividends are paid on the
common stock, each account is credited with equivalent amounts of Common Stock Units. If U.S. Steel were to undergo a change of control resulting in the removal of a non-employee director from the Board, that director would receive a cash payment
equal to the value of his or her deferred stock account. 
  
 Under the
Non-Employee Director Stock Program, a program under the 2005 Stock Incentive Plan, upon joining the Board, each non-employee director is entitled to receive a grant of up to 1,000 shares of common stock. In order to qualify, each director must
first have purchased an equivalent number of shares in the open market during the 60 days following the first date of his or her service on the Board.Restricted Stock Units Award Agreement

 Exhibit 10.1 
 RESTRICTED STOCK UNITS AWARD AGREEMENT 
 ON SEMICONDUCTOR 
 2000 STOCK INCENTIVE PLAN 
 (Form of
agreement for certain officers)1

 ON Semiconductor Corporation, a Delaware Corporation,
(“Company”) hereby grants to «Name» (“Grantee”), a Participant in the ON Semiconductor Corporation (formerly known as SCG Holding Corporation) 2000 Stock Incentive Plan (“Plan”), as amended, a
Restricted Stock Units Award (“Award”) for Units (“Units”) representing shares of the Company’s Common Stock (“Stock”). The grant is made effective as of the      day of
                    , 20     (“Grant Date”). Although designated as a “Restricted Stock Unit
Award,” this Award is granted under the Performance Share Award portion of the Plan. 
 A. The Board of Directors of the Company
has adopted the Plan as an incentive to retain members of the Board, and key employees, officers and consultants of the Company and to enhance the ability of the Company to attract new members of the Board, employees, officers and consultants whose
services are considered unusually valuable by providing an opportunity for them to have a proprietary interest in the success of the Company. 
 B. The Board has approved the granting of units to the Grantee pursuant to the Plan to provide an incentive to the Grantee to focus on the long-term growth of the Company. 
 C. To the extent not specifically defined in this Restricted Stock Units Award Agreement (“Agreement”) [or in the Grantee’s
Employment Agreement dated
                                        ,
20     (“Employment Agreement”)], all capitalized terms used in this Agreement shall have the meaning set forth in the Plan. 
 In consideration of the mutual covenants and conditions hereinafter set forth and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Company and the Grantee
agree as follows: 
 1. Grant of Units. Grantee is hereby granted a Restricted Stock Units Award for
                     Units, representing the right to receive the same number of shares of the Company’s Stock, subject to the terms and
conditions in this Agreement. This Award is granted pursuant to the Plan and its terms are incorporated by reference. 
 2. Vesting of
Units. The Units will vest in accordance with the following schedule: 
  

	 	•	 	[33 1/3%] of the Units will vest on [the first anniversary of the Grant Date] /
[                                
        , 20    ]; 

  

	1	Bracketed language and similar notations in this form indicate language that is subject to change or completion as part of the form being finalized and executed.

  

 1 

	 	•	 	An additional [33 1/3%] of the Units will vest on [the second anniversary of the Grant Date] /
[                                
            , 20    ]; and 

  

	 	•	 	[The final 33 1/3%] of the Units will vest on [the third anniversary of the Grant Date] /
[                                
            , 20    ].] 

 3.
Termination of Employment or Services. 
 3.1 General. Subject to the provisions of
Section 3.2 below, if the Grantee terminates employment with, or otherwise ceases to perform services for, the Company for any reason, any Units that are not vested under the schedule in 2 above will be canceled and forfeited as of the date of
termination of employment or service. 
 3.2 Change in Control. If the Company terminates the Grantee’s
employment or services without Cause (including a deemed termination for Good Reason, if applicable for this Grantee) within two (2) years following a Change in Control, then the unvested portion of the Units shall become immediately vested.

 4. Time and Form of Payment. Subject to the provisions of the Agreement and the Plan, as the number of Units vest under 2
above, the Company will deliver to the Grantee the same number of whole shares of Stock, rounded up or down. 
 5.
Nontransferability. The Units granted by this Agreement shall not be transferable by the Grantee or any other person claiming through the Grantee, either voluntarily or involuntarily, except by will or the laws of descent and
distribution or as otherwise provided under Section 13.5 of the Plan. 
 6. Adjustments. In the event of a stock dividend
or in the event the Stock shall be changed into or exchanged for a different number or class of shares of stock of the Company or of another corporation, whether through reorganization, recapitalization, stock split-up, combination of shares, merger
or consolidation, there shall be substituted for each such remaining share of Stock then subject to this Agreement the number and class of shares of stock into which each outstanding share of Stock shall be so exchanged, all as set forth in
Section 14 of the Plan. 
 7. Delivery of Shares. No shares of Stock shall be delivered under this Agreement until
(i) the Units vest in accordance with the schedule set forth in 2 above; (ii) approval of any governmental authority required in connection with the Agreement, or the issuance of shares thereunder, has been received by the Company;
(iii) if required by the Committee, the Grantee has delivered to the Company documentation (in form and content acceptable to the Company in its sole and absolute discretion) to assist the Company in concluding that the issuance to the Grantee
of any share of Stock under this Agreement would not violate the Securities Act of 1933 or any other applicable federal or state securities laws or regulations; and (iv) the Grantee has complied with 13 below of this Agreement in order for the
proper provision for required tax withholdings to be made. 
  

 2 

 8. Securities Act. The Company shall not be required to deliver any shares of Stock
pursuant to the vesting of Units if, in the opinion of counsel for the Company, such issuance would violate the Securities Act of 1933 or any other applicable federal or state securities laws or regulations. 
 9. Voting and Other Stockholder Related Rights. The Grantee will have no voting rights or any other rights as a stockholder of the Company
(e.g., no rights to cash dividends) with respect to nonvested Units until the Units become vested and the Company issues shares of Stock to the Grantee. 
 10. Copy of Plan. By the execution of this Agreement, the Grantee acknowledges receipt of a copy of the Plan. 
 11. Administration. This Agreement shall at all times be subject to the terms and conditions of the Plan and the Plan shall in all respects be administered by the Board in accordance with the terms of
and as provided in the Plan. The Board shall have the sole and complete discretion with respect to all matters reserved to it by the Plan and decisions of the majority of the Board with respect thereto and to this Agreement shall be final and
binding upon the Grantee and the Company. In the event of any conflict between the terms and conditions of this Agreement and the Plan, the provisions of the Plan shall control. 
 12. Continuation of Employment or Services. This Agreement shall not be construed to confer upon the Grantee any right to continue
employment with, or to provide services to, the Company and shall not limit the right of the Company, in its sole and absolute discretion, to terminate the employment or services of the Grantee at any time. 
 13. Tax Withholding. Pursuant to Section 17.3 of the Plan, subject to the consent and approval of the Committee or a designee of the
Committee acting on the Committee’s behalf (which consent and approval may be denied in the Committee’s or its designee’s sole and absolute discretion), the Grantee may elect to satisfy any federal, state, local, or foreign employment
or income taxes due upon the vesting of shares of the Units (or otherwise) by (i) personal check or other cash equivalent acceptable to the Company, (ii) Grantee executes a same day sale of Stock pursuant to procedures approved by the
Company, or (iii) having the Company withhold from those shares of Stock that the Grantee would otherwise be entitled to receive, a number of shares having a Fair Market Value equal to the minimum statutory amount necessary to satisfy the
Company’s applicable federal, state, local and foreign income and employment tax withholding obligations. 
 14. Governing
Law. This Agreement shall be interpreted and administered under the laws of the State of Delaware. 
 15. Amendments.
This Agreement may be amended only by a written agreement executed by the Company and the Grantee. 
  

 3 

 IN WITNESS WHEREOF, the Company has caused this Agreement to be signed by its duly authorized
representative and the Grantee has signed this Agreement as of the date first written above. 
  

			
	ON SEMICONDUCTOR CORPORATION
		
	By:	 	  

  

	
	
	   
	Grantee

  

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