Document:

Exhibit 10.2

BEACON ROOFING SUPPLY, INC. 2004 STOCK PLAN

STOCK OPTION AGREEMENT

A
Stock Option (the “Option”) granted, as of November 2, 2005, by Beacon Roofing
Supply, Inc., a Delaware corporation (the “Company”), to the employee named in
the attached Option letter (the “Optionee”), for common stock, par value $.01
per share (the “Common Stock”), of the Company shall be subject to the
following terms and conditions:

1.             Stock
Option Grant.  Subject to the
provisions set forth herein and the terms and conditions of the Beacon Roofing
Supply, Inc. 2004 Stock Plan (the “Plan”), a copy of which is attached hereto and the terms of which are hereby
incorporated by reference, and in consideration of the agreements of the
Optionee herein provided, the Company hereby grants to the Optionee an Option
to purchase from the Company the number of shares of Common Stock, at the
purchase price per share, and on the schedule, set forth in the attached Option
letter.  Any Incentive Stock Option is
intended to be an incentive stock option within the meaning of Section 422A of
the Internal Revenue Code of 1986.

2.             Exercise
of Option.  Written notice of an
election to exercise any portion of the Option shall be given by the Optionee,
or his personal representative in the event of the Optionee’s death, in
accordance with procedures established by the Compensation Committee of the
Board of Directors of the Company (the “Committee”) as in effect at the time of
such exercise.

At the time of exercise of the Option, payment of the purchase price
for the shares of Common Stock with respect to which the Option is exercised
must be made by one or more of the following methods:  (i) in cash, or (ii) in cash received from a
broker-dealer to whom the Optionee has submitted an exercise notice and
irrevocable instructions to deliver the purchase price to the Company from the
proceeds of the sale of shares subject to the Option.

If applicable, an amount sufficient to satisfy all minimum Federal,
state and local withholding tax requirements prior to delivery of any
certificate for shares of Common Stock must also accompany the exercise.  Payment of such taxes can be made by a method
specified above, and/or by directing the Company to withhold such number of shares
of Common Stock otherwise issuable upon exercise of the Option with a fair
market value equal to the amount of tax to be withheld.

3.             Exercise
Upon Termination of Employment.  If
the Optionee’s employment with the Company and all affiliates terminates for
any reason other than death, disability or retirement, the then vested portion
of the Option shall continue to be exercisable until the earlier of the 90th
day after the date of the Optionee’s termination or the date the Option expires
by its terms.

In the event of the Optionee’s death, disability or retirement during
employment with the Company or any affiliate, the outstanding portion of the
Option shall become fully vested on such date and shall continue to be
exercisable until the earlier of the first anniversary of the date of the Optionee’s
death, disability or retirement or the date the Option expires by its
terms.  For this purpose (i) “disability”
means (as determined by the Committee in its sole discretion) the inability of
the Optionee to engage in any substantial gainful activity by reason of any
medically determinable physical or mental impairment which is expected to
result in death or disability or which has lasted or can be expected to last
for a continuous period of not less than 12 months, and (ii) “retirement” means
the Optionee’s termination from employment with the Company and all affiliates
without cause (as determined by the Committee in its sole discretion) when the
Optionee is 65 or older.  (Full vesting
of an Incentive Stock Option may result in all or part of the Option being
treated as a Non-Qualified Stock Option in accordance with Section 5.4 of the
Plan.)

4.             Option
Not Transferable.  The Option may be
exercised only by the Optionee during his lifetime and may not be transferred
other than by will or the applicable laws of descent or distribution or
pursuant to a qualified domestic relations order. The Option shall not
otherwise be assigned, transferred, or pledged for any purpose whatsoever and
is not 

 

 

subject, in whole or in part, to attachment,
execution or levy of any kind. Any attempted assignment, transfer, pledge, or
encumbrance of the Option, other than in accordance with its terms, shall be
void and of no effect.

5.             Surrender
of or Changes to Agreement.  In the
event the Option shall be exercised in whole, this Agreement shall be
surrendered to the Company for cancellation. In the event this Option shall be
exercised in part or a change in the number of designation of the shares of
Common Stock shall be made, this Agreement shall be delivered by the Optionee
to the Company for the purpose of making appropriate notation thereon, or of
otherwise reflecting, in such manner as the Company shall determine, the change
in the number or designation of such shares.

6.             Administration.  The Option shall be exercised in accordance
with such administrative regulations as the Committee shall from time to time
adopt.

7.             Governing
Law.  This Agreement, and the Option,
shall be construed, administered and governed in all respects under and by the
laws of the State of Delaware.

 

BEACON ROOFING SUPPLY, INC.Exhibit 10.3

[Non-Employee Directors]

BEACON ROOFING SUPPLY, INC. 2004 STOCK PLAN

STOCK OPTION AGREEMENT

A
Non-Qualified Stock Option (the “Option”) granted by Beacon Roofing Supply,
Inc., a Delaware corporation (the “Company”), to the non-employee director
named in the attached Award letter (the “Optionee”), for common stock, par
value $.01 per share (the “Common Stock”), of the Company shall be subject to
the following terms and conditions:

8.             Stock
Option Grant.  Subject to the
provisions set forth herein and the terms and conditions of the Beacon Roofing
Supply, Inc. 2004 Stock Plan (the “Plan”), a copy of which is attached hereto and the terms of which are hereby
incorporated by reference, and in consideration of the agreements of the
Optionee herein provided, the Company hereby grants to the Optionee a
Non-Qualified Stock Option, to purchase from the Company the number of shares
of Common Stock, at the purchase price per share, and on the schedule, set
forth in the attached Award letter.

9.             Exercise
of Option.  Written notice of an
election to exercise any portion of the Option shall be given by the Optionee,
or his personal representative in the event of the Optionee’s death, in
accordance with procedures established by the Compensation Committee of the
Board of Directors of the Company (the “Committee”) as in effect at the time of
such exercise.

At the time of exercise of the Option, payment of the purchase price
for the shares of Common Stock with respect to which the Option is exercised
must be made by one or more of the following methods:  (i) in cash, or (ii) in cash received from a
broker-dealer to whom the Optionee has submitted an exercise notice and
irrevocable instructions to deliver the purchase price to the Company from the
proceeds of the sale of shares subject to the Option.

If applicable, an amount sufficient to satisfy all minimum Federal,
state and local withholding tax requirements prior to delivery of any
certificate for shares of Common Stock must also accompany the exercise.  Payment of such taxes can be made by a method
specified above, and/or by directing the Company to withhold such number of
shares of Common Stock otherwise issuable upon exercise of the Option with a
fair market value equal to the amount of tax to be withheld.

10.           Exercise
Upon Termination of Service on the Board. 
If the Optionee’s service on the Board terminates for any reason other
than death, disability or retirement as described below, the then vested
portion of the Option shall continue to be exercisable until the earlier of the
90th day after the date of such termination of service or the date the Option
expires by its terms.

In the event of the Optionee’s death, disability or retirement while
serving on the Board, the outstanding portion of the Option shall become fully
vested on such date and shall continue to be exercisable until the earlier of
the first anniversary of the date of the Optionee’s death, disability or
retirement or the date the Option expires by its terms.  For this purpose (i) “disability” means (as
determined by the Committee in its sole discretion) the inability of the
Optionee to engage in any substantial gainful activity by reason of any
medically determinable physical or mental impairment which is expected to
result in death or disability or which has lasted or can be expected to last
for a continuous period of not less than 12 months and (ii) “retirement” means
termination in accordance with the Company’s retirement policy for Directors.

11.           Transfer
of Options.  The Option may be
exercised only by the Optionee during his lifetime and may not be transferred
other than (i) by will or the applicable laws of descent or distribution, (ii)
pursuant to a qualified domestic relations order or (iii) pursuant to a
transfer to (A) the trustee of a trust for the primary benefit of the Optionee’s
spouse or lineal descendants, (B) a partnership of which the Optionee’s spouse
and lineal descendants are the only partners or (C) a tax-exempt organization
as described in Section 501(c)(3) of the Internal Revenue Code, provided that
in each case the Optionee receives no consideration in connection with such
transfer. The Option shall not otherwise be assigned,

 

transferred, or pledged for any purpose whatsoever
and is not subject, in whole or in part, to attachment, execution or levy of
any kind. Any attempted assignment, transfer, pledge, or encumbrance of the
Option, other than in accordance with its terms, shall be void and of no
effect.

12.           Surrender
of or Changes to Agreement.  In the
event the Option shall be exercised in whole, this Agreement shall be
surrendered to the Company for cancellation. In the event this Option shall be
exercised in part or a change in the number of designation of the shares of
Common Stock shall be made, this Agreement shall be delivered by the Optionee
to the Company for the purpose of making appropriate notation thereon, or of
otherwise reflecting, in such manner as the Company shall determine, the change
in the number or designation of such shares.

13.           Administration.  The Option shall be exercised in accordance
with such administrative regulations as the Committee shall from time to time
adopt.

14.           Governing
Law.  This Agreement, and the Option,
shall be construed, administered and governed in all respects under and by the
laws of the State of Delaware.

BEACON ROOFING SUPPLY, INC.

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