Document:

EX-10.1

 EXHIBIT 10.1 

EAGLE MATERIALS INC. 

SALARIED INCENTIVE COMPENSATION PROGRAM 

FOR FISCAL YEAR 2023 
  

	1.	 Purpose 

The purpose of the Eagle Materials Inc. Salaried Incentive Compensation Program for Fiscal Year 2023 (the “Plan”) is to establish an
incentive bonus program which: (i) focuses on the performance of Eagle Materials Inc. (the “Company”) as well as individual performance; and (ii) aligns the interest of participants with those of the Company’s shareholders.
The Plan is adopted by the Compensation Committee of the Board of Directors (the “Committee”) under the structure of the Company’s Amended and Restated Incentive Plan (the “Incentive Plan”) and is subject to all the terms
and conditions of such Incentive Plan, including, without limitation the limits set forth in Section 8 of the Incentive Plan. The Plan shall be in effect for the fiscal year ending March 31, 2023. 

 

	2.	 Eligibility 

The Company’s Chief Executive Officer (the “CEO”) and his direct reports are eligible to participate in the Plan. The CEO may
propose to also include in the Plan additional exempt salaried employees at the corporate level of the Company. 
 Participants must be an
exempt salaried manager or professional. No hourly or non-exempt employee may participate. Participants in the Plan may not participate in any other Company incentive plan providing for monetary awards, except
for the Eagle Materials Long Term Compensation Program and the Eagle Materials Special Situation Program. 
  

	3.	 Bonus Pool 

To ensure reasonableness and affordability, available funds for bonus payments under the Plan are to be determined as a percentage of operating
earnings of the Company. The actual percentage may vary from year to year as recommend by the CEO and approved by the Committee. For Fiscal Year 2023, 1.2% of the Company’s operating earnings, as determined by the Committee, will fund
the corporate bonus pool. 
 Participants must be employed on March 31, 2023 to be eligible for any bonus award. Awards may be adjusted
for partial year participation for participants who enter the program after April 1, 2022. 
  

	4.	 Allocation of Corporate Pool 

Each participant’s allocated percentage of the corporate pool, and his/her individual performance relative to the goals and objectives
(and bonus award) shall be approved by the Committee, which may seek input from the CEO. For each participant, the maximum annual bonus award opportunity is represented by the percentage of the corporate pool assigned to such participant. 

	5.	 Goals and Objectives  

At the beginning of the fiscal year goals and objectives shall be established for each participant, and shall be 50% goal based, 10% budget
based and 40% discretionary. The actual bonus award paid at the end of the fiscal year shall be based on the individual participant’s performance relative to the previously established goals and objectives and the participant’s individual
performance during the fiscal year. The goals and objectives to be used for participants in the Plan may be comprised of objective and subjective criteria and should generally have a broader scope than the goals and objectives for subsidiary
companies. However, at the same time the goals must also contain specific criteria regarding execution that links subsidiary company performance to corporate performance. 
  

	6.	 Plan Administration 

The Plan shall be administered by the Committee, which shall have full and exclusive power to interpret this Plan and to adopt such rules,
regulations and guidelines for carrying out this Plan as it may deem necessary or appropriate in its sole discretion. All decisions of the Committee shall be binding and conclusive on the participants. The Committee shall determine all terms and
conditions of the bonus awards. 
 No member of the Committee shall be liable for anything done or omitted to be done by him or by any
member of the Committee in connection with the performance of any duties under this Plan, except for his own willful misconduct or as expressly provided by statute. 
  

	7.	 No Employment Guaranteed 

No provision of this Plan hereunder shall confer any right upon any executive officer to continued employment. 

 

	8.	 Governing Law 

This Plan and all determinations made and actions taken pursuant hereto, shall be governed by and construed in accordance with the laws of the
State of Texas, without reference to any conflicts of law principles thereof that would require the application of the laws of another jurisdiction. 
  

	9.	 Recoupment 

This Plan (and amounts paid in respect hereof) shall be subject to the terms of the recoupment (clawback) policy adopted by the Company as in
effect from time to time, as well as any recoupment/forfeiture provisions required by law and applicable to the Company or its subsidiaries. 

  
 - 2 -EX-10.2

 EXHIBIT 10.2 

EAGLE MATERIALS INC. 

AMERICAN GYPSUM COMPANY 

SALARIED INCENTIVE COMPENSATION PROGRAM 

FOR FISCAL YEAR 2023 
  

	1.	 Purpose 

The purpose of the American Gypsum Company Salaried Incentive Compensation Program for Fiscal Year 2023 (the “Plan”) is to establish
an incentive bonus program which: (i) focuses on the performance of American Gypsum Company (“American”) as well as individual performance; and (ii) aligns the interest of participants with those of the shareholders of Eagle
Materials Inc. (“Eagle”). The Plan is adopted by the Compensation Committee of the Board of Directors (the “Committee”) under the structure of Eagle Materials Inc. Amended and Restated Incentive Plan (the “Incentive
Plan”) and is subject to all the terms and conditions of such Incentive Plan, including, without limitation the limits set forth in Section 8 of the Incentive Plan. The Plan shall be in effect for the fiscal year ending March 31,
2023. 
  

	2.	 Bonus Pool 

To insure reasonableness and affordability the available funds for bonus payments are determined as a percent of the EBITDA of American. The
actual percentage may vary from year to year. For Fiscal Year 2023, the bonus pool will be equal to 2.0% of American’s EBITDA. 

Participants must be employed at fiscal year-end to be eligible for any bonus award. Awards may be
adjusted for partial year participation for participants added during a year. The Committee hereby delegates to the CEO of Eagle all its duties and authorities to grant awards under the Plan except that the Committee shall retain all authority with
respect to awards to the American President.     
  

	3.	 Eligibility 

The American President, Vice Presidents and Plant Managers will be participants in the Plan. Additional participants who have management
responsibilities or are in a professional capacity that can measurably impact earnings may be recommended by the American President subject to the approval of the Eagle Materials CEO. The addition of new plan participants will not affect the total
pool available but will in effect dilute the potential bonuses of the original participants. 
 A participant must be an exempt salaried
manager or professional. No hourly or non-exempt employee may participate. Participants in this Plan may not participate in any other company incentive plan with monetary awards, except for American Gypsum
Company’s Long-Term Compensation Program, the Eagle Materials Long-Term Compensation Program and the Eagle Materials Special Situation Program. 

	4.	 Allocation of Pool 

The American President will be eligible for a percentage of the pool to be recommended by the Eagle CEO and shall be approved by the Committee.
The American President will recommend the distribution of the remainder of the company pool. For each participant in the Plan, the maximum annual bonus award opportunity is represented by the percentage of the pool assigned to such participant. The
participants in the Plan and their percentage of the pool will be approved by the Eagle CEO (except for the American President and his percentage which shall be approved by the Committee) at the beginning of the fiscal year for which the bonus is
being earned. 
 The American President’s bonus opportunity shall be 50% goal based, 10% budget based and 40% discretionary taking into
consideration overall job performance and compliance with Eagle Policies and Code of Ethics. All participants in the Plan must have the ability to significantly affect the performance of the subsidiary company by achieving measurable, quantifiable
objectives. The American President will determine the objective and discretionary balance of bonus opportunities for the other participants in this Plan, subject to approval by the Eagle CEO. 

 

	5.	 Objective Criteria 

At the beginning of the fiscal year goals and objectives shall be established for each participant. Objectives should be measurable and focus
on areas that have meaningful impact on our operational performance. 
  

	6.	 Measuring Performance 

At the close of the fiscal year the American President will review each participant’s overall performance and each participant’s
achievement of the goals and objectives submitted at the beginning of the fiscal year and recommend the distribution of the pool to the participants. Distribution of the pool to all participants other than the American President requires the
approval of the Eagle CEO. Distribution of any portion of the pool to the American President requires the recommendation of the Eagle CEO and the approval of the Committee. 

Any portion of the Company Operating Pool not paid out (unearned) or forfeited will be added to the Special Situation Program (the
“SSP”) at Corporate. 
  

	7.	 No Employment Guaranteed 

No provision of this Plan hereunder shall confer any right upon any participant to continued employment. 

 

	8.	 Governing Law 

This Plan and all determinations made and actions taken pursuant hereto, shall be governed by and construed in accordance with the laws of the
State of Texas, without reference to any conflicts of law principles thereof that would require the application of the laws of another jurisdiction. 

  
 -2- 

	9.	 Recoupment 

This Plan (and amounts paid in respect hereof) shall be subject to the terms of the recoupment (clawback) policy adopted by Eagle as in effect
from time to time, as well as any recoupment/forfeiture provisions required by law and applicable to Eagle or its subsidiaries. 

  
 -3-

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