Document:

Filed by Bowne Pure Compliance

 

Exhibit 10.21

QUANEX BUILDING PRODUCTS CORPORATION

DIRECTOR [STOCK-][CASH-]SETTLED

STOCK APPRECIATION RIGHT AGREEMENT

<<Full Name>>

Grantee

	 	 	 
	Date of Grant:

	 	<<                    >>
	 
	 	 
	Total Number of Shares
	 	 
	Relating to the SARs Granted:

	 	<<                    >>
	 
	 	 
	Grant Price per Share:

	 	<<$                    >>
	 
	 	 
	Expiration Date:

	 	<<                    >>
	 
	 	 
	General Vesting Schedule:

	 	[100% Exercisable on the Date of Grant]
	 
	 	 
	 

	 	[3 years, with vesting in installments of 33
1/3% on the anniversary date of the Date of
Grant in each of the years                     ,
                     and                     .]
	 
	 	 
	 

	 	[100% exercisable on [first][second][third]
anniversary of the Date of Grant. 0%
exercisable prior to the
[first][second][third] anniversary of the
Date of Grant.]

These terms and conditions are applicable to a stock appreciation right (a “SAR”) granted pursuant
to the Quanex Building Products Corporation 2008 Omnibus Incentive Plan (the “Plan”) and are
incorporated as part of the Director Stock Appreciation Right Agreement setting forth the terms of
such SAR (the “Agreement”).

	1.	 	GRANT OF STOCK APPRECIATION RIGHT. Quanex Building Products Corporation, a Delaware
corporation (the “Company”), pursuant to the Plan, hereby grants to you, the above-named
Grantee, effective as of the Date of Grant set forth above, a stock appreciation right (“SAR”)
that entitles you to receive, upon exercise hereof, [the number of shares of the Company’s
common stock][cash payment(s) from the Company in an amount] determined by multiplying the
excess of the Fair Market Value of a share of the Company’s common stock on the date of
exercise over the Grant Price per share set forth above by the number of shares of the
Company’s common stock with respect to which the SAR is exercised[ and dividing the
resulting product by the Fair Market Value of a share of the Company’s common stock on the
date of exercise]. The SAR is exercisable in installments in accordance with the Vesting
Schedule set forth above by giving written notice to the Company as specified in this
Agreement. To the extent not exercised, installments shall be cumulative and may be exercised
in whole or in part until the SAR terminates. The SAR may not be exercised after the
Expiration Date, or the applicable date following your termination of employment specified in
this Agreement.

Director

[Immediate Vesting]—[Cliff Vesting]—[Graded Vesting]

[Stock Settled]—[Cash Settled]

{Special Directions}

 

 

 

	2.	 	[CEASES TO BE A MEMBER/SECTION 409A CHANGE IN CONTROL. The following provisions will
apply if you cease to be a member of the Board of Directors of the Company (the “Board”) or a
“change in the ownership or effective control of the corporation” or a “change in the
ownership of a substantial portion of the assets of the corporation” (within the meaning of
section 409A of the Internal Revenue Code of 1986, as amended) with respect to the Company
(“Section 409A Change in Control”) occurs before the Expiration Date set forth in this
Agreement:

2.1 Ceases to be a Member Generally. If you cease to be a member of the Board before
the Expiration Date for any reason other than one of the reasons described in Sections 2.2
through 2.4 below, all of your rights in the SAR shall terminate and become null and void on
the earlier of the Expiration Date or 90 days after the date you cease to be a member of the
Board. Except as specified in Sections 2.2 through 2.4 below, if you cease to be a member
of the Board for any reason, the SAR shall not continue to vest after such termination of
employment.

2.2 Section 409A Change in Control. If a Section 409A Change in Control occurs on or
before the third anniversary of the date of Grant (“Third Anniversary Date”), then the SAR
shall become fully exercisable on the date of the Section 409A Change in Control.

2.3 Retirement or Disability. If you cease to be a member of the Board due to your
Retirement or Disability, then your rights under the SAR that have not then vested shall
vest on the effective date of your Retirement or your ceasing to be a member of the Board
due to Disability. All of your rights in the SAR shall terminate and become null and void
on the earlier of the Expiration Date or three (3) years after the date you cease to be a
member of the Board as a result of Retirement or a Disability. For purposes of this
Section 2.3, the term “Retirement” means your voluntary cessation of your membership as a
director with the Company on or after you serve six years or two consecutive terms as a
director.

2.4 Death. If you cease to be a member of the Board due to your death, then your rights
under the SAR that have not then vested shall vest on the date of your death. All rights in
the SAR shall terminate and become null and void on the earlier of the Expiration Date or
three years after the date of your death. After your death, your executors, administrators
or any person or persons to whom your SAR may be transferred by will or by the laws of
descent and distribution, shall have the right, at any time prior to the termination of the
SAR to exercise the SAR.]

[CEASES TO BE A MEMBER. The following provisions will apply if you cease to be a member of
the Board of Directors of the Company (the “Board”) before the first business day of the
calendar year containing the Expiration Date:

2.1 Ceases to be a Member Generally. If you cease to be a member of the Board
before the Expiration Date for any reason other than one of the reasons described in
Sections 2.2 and 2.3 below, all of your rights in the SAR shall terminate and become null
and void on the earlier of the Expiration Date or 90 days after the date you cease to be a
member of the Board.

2.2 Retirement or Disability. If you cease to be a member of the Board due to your
Retirement or Disability before the Expiration Date, then all of your rights in the SAR
shall terminate and become null and void on the earlier of the Expiration Date or three (3)
years after the date you cease to be a member of the Board as a result of Retirement or a
Disability. For purposes of this Section, the term “Retirement” means your voluntary
cessation of your membership as a director with the Company on or after your serve six years
or two consecutive terms as a director.

Director

[Immediate Vesting]—[Cliff Vesting]—[Graded Vesting]

[Stock Settled]—[Cash Settled]

 

2

 

2.3 Death. If you cease to be a member of the Board due to your death before the
Expiration Date, then all your rights under the SAR shall terminate and become null and void
on the earlier of the Expiration Date or three years after the date of your death. After
your death, your executors, administrators or any person or persons to whom your SAR may be
transferred by will or by the laws of descent and distribution, shall have the right, at any
time prior to the termination of the SAR to exercise the SAR.]

	3.	 	EXERCISE. Subject to the terms and provisions of the Plan and this Agreement, the SAR may be
exercised in whole or in part from time to time by the delivery of timely written notice
personally delivered or sent by first class mail or facsimile transmission to the attention of
the General Counsel or Chief Financial Officer of the Company stating (1) the date you wish to
exercise such SAR, (2) the number of shares of Stock with respect to which the SAR is to be
exercised and (3) the [address or account][address] to which [the shares of the
Company’s common stock][any payment] should be mailed[ or transmitted]. Notice
under this paragraph shall be addressed as follows: ATTN: General Counsel and/or Chief
Financial Officer, Quanex Building Products Corporation, 1900 West Loop South, Suite 1500,
Houston, Texas 77027 or 713.439.1016 (if via facsimile transmission). The Company may provide
a delegate to receive such notice or alternate procedures for complying with the exercise and
notice requirements of this section. The exercise date shall be the later of the date
specified in such notice or the date such notice is actually received by the Company or its
delegate.

	4.	 	NONTRANSFERABILITY. Except as specified in this Agreement, the SAR and this Agreement are
not transferable or assignable by you other than by will or the laws of descent and
distribution, and shall be exercisable during your lifetime only by you. You may transfer
this SAR to a member or members of your immediate family, a trust under which your immediate
family members are the only beneficiaries and a partnership of which your immediate family
members are the only partners. For this purpose, “immediate family” means your spouse,
children, stepchildren, grandchildren, parents, grandparents, siblings (including half
brothers and sisters), and individuals who are family members by adoption. Notwithstanding
any other provision of this Agreement, such a transferee of the SAR granted under this
Agreement may exercise the SAR during your lifetime. None of the Company, its employees or
directors makes any representations or guarantees concerning the tax consequences associated
with the inclusion of this provision in this Agreement, your transfer of the SAR granted under
this Agreement or the transferee’s exercise of the SAR. It is your sole responsibility to
seek advice from your own tax advisors concerning those tax consequences. You are entitled to
rely upon only the tax advice of your own tax advisors.

	5.	 	CAPITAL ADJUSTMENTS AND REORGANIZATIONS. The existence of the SAR shall not affect in any
way the right or power of the Company or any company the stock of which is issued pursuant to
this Agreement to make or authorize any adjustment, recapitalization, reorganization or other
change in its capital structure or its business, engage in any merger or consolidation, issue
any debt or equity securities, dissolve or liquidate, or sell, lease, exchange or otherwise
dispose of all or any part of its assets or business, or engage in any other corporate act or
proceeding.

	6.	 	SERVICE OR EMPLOYMENT RELATIONSHIP. For purposes of this Agreement, you shall be considered
to be in the service of the Company Group as long as you have a service or employment
relationship with the Company Group. The Committee shall determine any questions as to
whether and when there has been a termination of such service relationship, and the cause of
such termination, under the Plan and the Committee’s determination shall be final and binding
on all persons.

Director

[Immediate Vesting]—[Cliff Vesting]—[Graded Vesting]

[Stock Settled]—[Cash Settled]

 

3

 

	7.	 	NO RIGHTS AS A STOCKHOLDER. You shall not have any rights as a stockholder of the Company
with respect to any shares of common stock relating to the SAR[ until the date of the
issuance of the shares following exercise of the SAR pursuant to this Agreement].

	8.	 	NOT A SERVICE OR EMPLOYMENT AGREEMENT. This Agreement is not a service or employment
agreement, and no provision of this Agreement shall be construed or interpreted to create a
service or employment relationship between you and the Company or any of its Affiliates or
guarantee the right to remain as a director of or employed by the Company or any of its
Affiliates for any specified term.

	9.	 	[SECURITIES ACT LEGEND. If you are or become an officer or affiliate of the Company
under the Securities Act of 1933, you consent to the placing on any certificate for the Shares
of an appropriate legend restricting resale or other transfer of the Shares except in
accordance with such Act and all applicable rules thereunder.]

	10.	 	LIMIT OF LIABILITY. Under no circumstances will the Company Group be liable for any
indirect, incidental, consequential or special damages (including lost profits) of any form
incurred by any person, whether or not foreseeable and regardless of the form of the act in
which such a claim may be brought, with respect to the Plan.

	11.	 	MISCELLANEOUS. This Agreement and the SAR are awarded pursuant to and are subject to all of
the provisions of the Plan, which are incorporated by reference herein, including all
amendments to the Plan, if any. If there is a conflict between this Agreement and the Plan
provisions, the Plan provisions will control. Capitalized terms that are not defined herein
shall have the meanings ascribed to such terms in the Plan.

By your acceptance of the SAR, you agree that the SAR is granted under, governed by and subject to
the terms of the Plan and this Agreement.

	 	 	 	 	 
	 

	 	QUANEX BUILDING PRODUCTS CORPORATION
	 	 
	 
	 
	 	 	 	 
	 	 	 	 	 
	 

	 	Raymond Jean — Chief Executive Officer	 	 

Director

[Immediate Vesting]—[Cliff Vesting]—[Graded Vesting]

[Stock Settled]—[Cash Settled]

 

4Filed by Bowne Pure Compliance

 

Exhibit 10.22

QUANEX BUILDING PRODUCTS CORPORATION

OTHER STOCK-BASED AWARD AGREEMENT

<<Full Name>>

Grantee

	 	 	 
	Date of Award:

	 	<<                                        >>
	Number of Shares:

	 	<<                                        >>

AWARD OF STOCK

The Compensation Committee (the “Committee”) of the Board of Directors of Quanex Building Products
Corporation, a Delaware corporation (the “Company”), pursuant to the Quanex Building Products
Corporation 2008 Omnibus Incentive Plan (the “Plan”), hereby awards to you, the above-named
Grantee, effective as of the Date of Award set forth above, that number of shares (the “Shares”) of
the Company’s Common Stock, $0.01 par value per share (the “Common Stock”), set forth above.
Capitalized terms that are not defined herein shall have the meaning ascribed to such terms in the
Plan.

The Shares that are awarded hereby to you are not subject to any forfeiture restrictions.

To the extent that the receipt of the Shares of Restricted Stock results in income, wages or other
compensation to you for any income, employment or other tax purposes with respect to which the
Company has a withholding obligation, you shall deliver to the Company at the time of such receipt
or lapse, as the case may be, such amount of money as the Company may require to meet its
obligation under applicable tax laws or regulations, and, if you fail to do so, the Company is
authorized to withhold from the Shares awarded hereby or from any cash or stock remuneration or
other payment then or thereafter payable to you any tax required to be withheld by reason of such
taxable income, wages or compensation sufficient to satisfy the withholding obligation based on the
last per share sales price of the Common Stock for the trading day immediately preceding the date
that the withholding obligation arises, as reported in the New York Stock Exchange Composite
Transactions.

The Shares awarded hereby may not be sold or otherwise disposed of in any manner that would
constitute a violation of any applicable federal or state securities laws. You also agree that
(a) the Company may refuse to cause the transfer of the Shares to be registered on the stock
register of the Company if such proposed transfer would in the opinion of counsel satisfactory to
the Company constitute a violation of any applicable federal or state securities law and (b) the
Company may give related instructions to the transfer agent, if any, to stop registration of the
transfer of the Shares.

The Company shall cause the Shares to be issued to you, and such Shares shall be transferable by
you (except to the extent that any proposed transfer would, in the opinion of counsel satisfactory
to the Company, constitute a violation of applicable federal or state securities law). The Shares
are registered with the Securities and Exchange Commission under a Registration Statement on Form
S-8.

In accepting the award of Shares set forth in this Agreement you accept and agree to be bound by
all the terms and conditions of the Plan and this Agreement.

	 	 	 	 	 
	 

	 	QUANEX BUILDING
	 	 
	 

	 	PRODUCTS CORPORATION	 	 
	 
	 
	 	 	 	 
	 

	 	 	 	 
	 

	 	Raymond Jean – Chief Executive Officer	 	 

Executive/Employee

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