Huttig Building Products, Inc. Non-Qualified Stock Option Agreement with Director
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Summary
Huttig Building Products, Inc. grants a non-qualified stock option to a director, allowing the purchase of 20,000 shares of company stock at $4.34 per share. The options vest over three years: 50% after one year, 25% after two years, and the remaining 25% after three years from the grant date of January 22, 2001. The agreement becomes binding once the director signs and returns the letter.
EX-10.24 10 c67952ex10-24.txt FORM OF STOCK OPTION AGREEMENT EXHIBIT 10.24 [Huttig Building Products letterhead] [Name of Director] [Address] [Address] [City/State/Zip] Dear [Director]: I am pleased to advise you that the Organization and Compensation Committee of the Board of Directors of Huttig Building Products, Inc. has awarded a non-qualified stock option to you for the purchase of 20,000 shares of common stock of Huttig Building Products, Inc. at $4.34 per share. The date of grant of these options is January 22, 2001. These options vest according to the following schedule: o 50% on January 22, 2002 o 25% on January 22, 2003 o 25% on January 22, 2004 Please sign and return the enclosed duplicate of this letter, which when received will constitute a binding option agreement at the price and for the number of shares set forth in this letter. Very truly yours, Barry J. Kulpa ACCEPTED AND AGREED TO: - --------------------------- [Name of Director] Date:_______________________
