SEC Contract Filing

Filing Date: 2020-11-20

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<TYPE>EX-10.20
<SEQUENCE>4
<FILENAME>becn-ex1020_221.htm
<DESCRIPTION>EX-10.20
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
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<p style="margin-bottom:0pt;margin-top:0pt;text-align:center;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:bold;text-transform:uppercase;">&nbsp;</p>
<p style="margin-top:0pt;text-align:center;margin-bottom:12pt;text-indent:0%;font-weight:bold;text-transform:uppercase;font-size:11pt;font-family:Times New Roman;font-style:normal;font-variant: normal;">Executive severance and restrictive Covenant AGREEMENT </p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">This Executive Severance and Restrictive Covenant Agreement (&#8220;Agreement&#8221;) is made as of ___________, 20__ by and between Beacon Roofing Supply, Inc. and Beacon Sales Acquisition, Inc., both Delaware corporations (collectively, &#8220;<font style="text-decoration:underline;">Beacon</font>&#8221;) and [______________________________] (&#8220;<font style="text-decoration:underline;">Executive</font>&#8221;).</p>
<p style="text-align:center;margin-bottom:12pt;margin-top:0pt;text-indent:0%;font-weight:bold;text-transform:uppercase;font-size:11pt;font-family:Times New Roman;font-style:normal;font-variant: normal;"><font style="text-decoration:underline;">R E C I T A L S</font></p>
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<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">A.</font></p></td>
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<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:11pt;">Executive is an officer of Beacon and heretofore has not had any entitlement to severance or other benefits in the event of termination from employment while also not being bound by any restrictive covenants in the event of a termination from employment by Beacon without specified cause.&nbsp;&nbsp;Executive presently is bound by certain restrictive covenants in the event Executive resigns employment or is terminated for specified cause.&nbsp;&nbsp;The purpose of this Agreement is to provide Executive with an entitlement to severance and other valuable benefits if Executive&#8217;s employment is terminated by Beacon under circumstances as set forth herein in exchange for which Executive agrees to be bound by certain restrictive covenants notwithstanding the reason for Executive&#8217;s separation from employment.&nbsp;&nbsp;</p></td></tr></table></div>
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<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">B.</font></p></td>
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<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:11pt;">Beacon is engaged in the business of the sale and distribution of building materials including:&nbsp;&nbsp;(i) residential and/or commercial roofing, including but not limited to shingles (all types including but not limited to asphalt, wood, synthetic), built-up, modified, EPDM, TPO/PVC, low-slope commercial, (ii) siding, (iii) windows, (iv) skylights, (v) doors, (vi) decking and railings, (vii) waterproofing, (viii) building insulation (rigid, foam, rolled), (ix) asphalt, (x) roof coatings and adhesives specially designed for and marketed to the roofing contractor industry, (xi) metal roofing, (xii) plywood, (xiii) millwork, (xiv) synthetic stone and stucco, (xv) drywall, (xvi) lumber, (xvii) moldings, (xviii) barriers and barrier systems, (xix) drainage materials, (xx) tiling, including acoustical tile, (xxi) gutters and gutter coils, (xxii) solar paneling, solar inverters and solar panels mounting hardware, and (xxiii) tools, equipment and other accessories related to the above (the &#8220;<font style="text-decoration:underline;">Business</font>&#8221;).</p></td></tr></table></div>
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