Document:

<PAGE>

                                                                    EXHIBIT 10.6
                                                                    ------------
                            PLY GEM INDUSTRIES, INC.

                       Change in Control Severance Benefit
                             Plan for Key Employees
                                October 30, 2003

         Ply Gem Industries, Inc. (the "Company") desires to assure that it and
its subsidiaries (the "Employer") will have the benefit of the continued service
and experience of certain of their key employees designated as hereinafter
provided ("Employees," or individually, the "Employee") and to assure Employer
and the Employee of the continuity of management of the Company and Employer in
the event of any change in control of the Company on or before March 31, 2004
and adopts this plan (the "Plan") to provide such assurances.

         1.       Designated Employees. Employees entitled to participate in the
Plan shall be those designated from time to time by the Board of Directors of
the Company.

         2.       Change in Control. For purposes of this Plan, a "Change in
Control" shall be deemed to have occurred upon the closing on an agreement for
the acquisition, merger or consolidation of the Company resulting in all or
substantially all of the business and/or assets of the Company being controlled
by a corporation or other entity other than Nortek, Inc. or its affiliates.

         4.       Severance Benefit. If during a period of 24 months following a
Change in Control, either (i) the employment of Employee is terminated by
Employer without Cause (as defined below) or (ii) there is a material adverse
change in the terms of the employment of Employee which entitles Employee to
treat any such change as such a termination as hereinafter provided (either (i)
or (ii) being referred to herein as a "Qualifying Termination") Employee shall
be entitled to receive severance pay at an annual rate in an amount equal to
Employees 2003 base pay plus his estimated/actual 2003 performance incentive
bonus (excluding all other bonuses, such as, any "stay" or relocation bonuses),
such severance pay to be paid for the 24-month period following such termination
in the same manner as Employee's basic salary was paid immediately prior to such
termination and to be subject to appropriate tax withholding. Payment of such
amount shall be considered severance pay in consideration of past services,
services subsequent to Employee's designation under this Plan and continued
services during a period while any such Change in Control is pending and
thereafter and is not to be reduced by compensation or income received by
Employee from any other employment or other source. It is understood and agreed
to by Employee that any payments made pursuant to this agreement are not counted
as wages or other compensation for purposes of any pension, 401(k) or other
benefit plan of Employer.

         For the purpose of this Plan, "Cause" shall mean: (i) the willful and
continued failure of Employee to perform substantially Employee's material
duties (other than any such failures resulting from or contributed to by,
incapacity due to physical or mental illness), after a written demand for
substantial performance is delivered to Employee by the Board of Directors of
the Company and which notice specifically identifies the

<PAGE>

manner in which the Employee has not substantially performed his material
duties; or (ii) because of conviction of Employee of a crime involving theft,
embezzlement or fraud against Employer or a civil judgment in which Employer is
awarded damages from Employee in respect of a claim of loss of funds through
fraud or misappropriation by Employee, which in either case has become final and
is not subject to further appeal, continued employment of Employee would be
demonstrably injurious to Employer.

         In the event of a Qualifying Termination, Employee shall continue for a
period of 24 months after termination to be covered at the expense of Employer
(reduced by the employee contribution under the plan for active employees) by
the same or equivalent medical and dental insurance coverage as he was covered
immediately prior to such termination, it being understood that the Employer's
obligation during the first 18 months shall be the reimbursement of the
Employee's COBRA premium (reduced by the employee contribution for active
employees).

         Following a Change in Control, a material adverse change in the terms
of employment of Employee by Employer which Employee is entitled to treat as a
termination by Employer for purposes of this Plan includes:

                  (a)      Without Employee's express written consent,
         assignment of Employee to any duties inconsistent with his position,
         duties and responsibilities and status with Employer immediately prior
         to a Change in Control; or

                  (b)      A reduction by the Employer in Employee's base salary
         as in effect immediately prior to a Change in Control; or

                  (c)      Without Employee's express written consent, the
         Employer's requiring Employee to be based anywhere other than within 50
         miles of his office location immediately prior to a Change in Control,
         except for required travel on the Employer's business to an extent
         substantially consistent with his business travel obligations
         immediately prior to a Change in Control; or

                  (d)      The taking of any action by the Employer which would
         deprive Employee of any material employee benefit enjoyed by him
         immediately prior to a Change in Control except where such change is
         applicable to all employees participating is such benefit plan; or

                  (e)      Any breach by the Company or Employer of any
         provision of this Plan.

         6.       Limited Effect. This Plan, any agreement entered into pursuant
hereto and payment of severance benefits hereunder shall not give Employee any
right of continued employment, and no right to any compensation or benefits from
the Company or Employer except the right specifically stated herein for certain
severance pay benefits in the event of a Change in Control at a time when
Employee is still employed by Employer and is a designated Employee under this
Plan, shall not limit Employer's right to terminate Employee's employment at any
time prior to a Change in Control, with or

<PAGE>

without cause, or to terminate Employees designation as an Employee under this
Plan, except as may be otherwise provided in a written employment agreement
between Employee and Employer, and shall not confer on Employee any right to
severance pay except in the event as specifically provided for herein.

         7.       Termination. This Plan and the employee benefits described
herein shall terminate on March 31, 2004 provided no Change of Control has
occurred prior to that date.

         8.       Indemnification. Employer agrees to pay all costs and expenses
incurred by Employee in connection with the enforcement of his rights under this
Plan and will indemnify and hold harmless Employee from and against any damages,
liabilities and expenses (including without limitation fees and expenses of
counsel) incurred by Employee in connection with any litigation or threatened
litigation, arising out of the making, performance or enforcement of this Plan.

         9.       Governing Law. This Plan and agreements made with Employees
hereunder shall be governed by the laws of the State of Delaware.<PAGE>

                                                                    EXHIBIT 10.7
                                                                    ------------
NORTEK

RICHARD L. BREADY
CHAIRMAN AND CEO

October 31, 2003

Lee Meyer
President
Ply Gem Industries, Inc.
303 W. Major Street
P.O. Box 559
Kearney, MO 64060

Dear Lee,

         This letter describes the terms and conditions of the key employee
incentive program for the possible sale of Ply Gem Industries, Inc., including
its wholly-owned subsidiaries Variform, Inc., Napco, Inc., Great Lakes Window,
Inc., Kroy Buildings Products, Inc. and Thermal-Gard, Inc., and the business of
the CWD Windows and Doors Division of Broan-NuTone Canada Inc. (collectively
"WDS").

         1.       Upon the closing of the sale of WDS, you will be paid by
                  Nortek, Inc. a cash incentive bonus of $1,000,000, payable on
                  or before the 10th day after Nortek receives payment from the
                  sale.

         2.       Upon the closing of the sale of WDS: (a) the Class A Options
                  previously granted to you pursuant to the Nortek Holdings,
                  Inc. 2002 Stock Option Plan shall become fully vested; and (b)
                  the Class A and Class B Options previously granted to you
                  shall remain exercisable by you (subject to all other
                  conditions of the Plan, including the requirements that a
                  minimum Exit Value per share in excess of $92 is achieved and
                  that the Kelso entities achieve the 17% Investor Return)
                  regardless of your continued employment with VMS after the
                  sale. A copy of the resolution of the Compensation Committee
                  of the Nortek Holdings Board of Directors is enclosed together
                  with a copy of the Stock Option Plan.

         3.       No payments or arrangements pursuant to paragraphs 1 and 2
                  above shall be made if you are not employed by WDS (for any
                  reason) on the sale date or you have not committed the
                  necessary time and effort toward the sale of WDS which shall
                  include preparing due diligence materials, preparing
                  presentation material, meeting with potential buyers and
                  otherwise acting in the best interests of the shareholders of
                  WDS.

         4.       You have also been named by the Ply Gem Industries, Inc. Board
                  of Directors as a participant in the Ply Gem Industries, Inc.
                  Change in Control Severance

NORTEK, INC., 50 KENNEDY PLAZA, PROVIDENCE, RHODE ISLAND 02903-2360 401-751-1600
                                FAX 401-751-4610

<PAGE>
                                                                               2

                  Benefit Plan for Key Employees, a copy of which is enclosed.
                  The Plan provides generally that if you are terminated other
                  than for Cause or there is a material adverse change in your
                  employment during a period of 24 months following the sale of
                  WDS, you shall be paid, for the 24 months following such
                  termination, an annual amount equal to your 2003 base salary
                  plus your 2003 annual performance bonus. (Please refer to the
                  specific language of the plan.)

         5.       In the event the sale of WDS is not completed on or before
                  March 31, 2004, this letter shall be null, void and have no
                  further effect and any obligation or agreement set forth
                  herein shall immediately terminate even if WDS is sold at some
                  later date.

         6.       This letter should in no way be viewed as any guarantee of
                  continued employment with WDS.

         7.       All payments shall be subject to any applicable withholdings
                  and any tax on such amounts shall be your responsibility. It
                  is understood that payments made pursuant to this letter do
                  not create any employment arrangement between any individual
                  and Ply Gem, Nortek or any Nortek subsidiary. Any payments
                  made pursuant to this agreement are not counted toward any
                  pension, 401(k) or other benefit plan of WDS or Nortek.

         8.       This letter sets forth the entire understanding regarding what
                  payment, if any, shall be made to you upon the sale of WDS
                  except as may be set forth in a written agreement between the
                  parties or contained in written benefit plans available to
                  employees or executives generally.

                                              Very truly yours,

                                              /s/ Richard L. Bready

                                              Richard L. Bready

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00063-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00063-of-00352.parquet"}]]