Masco Corporation Senior Executive Estate, Financial, and Tax Planning Assistance Program Description

Summary

Masco Corporation offers a program to help its senior executives with estate, financial, and tax planning. The company pays up to $10,000 per year for professional services, with an option to use up to $20,000 in the first year to cover initial planning costs. Executives are informed of the fees used on their behalf, and the value of these services is considered taxable income. This program aims to ensure executives understand the financial and legal aspects of their benefits.

EX-10.F 10 k74353exv10wf.txt PROGRAM FOR ESTATE, FINANCIAL PLANNING AND TAX EXHIBIT 10.F DESCRIPTION OF THE MASCO CORPORATION PROGRAM FOR ESTATE, FINANCIAL PLANNING AND TAX ASSISTANCE In order to assure that the Company's senior executives are fully aware of the tax, legal and financial implications of the Company's benefit programs, the Company has established a program to provide senior executives with assistance in their estate, financial and tax planning matters. Under this program, the Company will pay up to $10,000 for such professional services each year, with a special "carry-forward" of the second year's $10,000 allowance during the first year to cover additional costs associated with development of an initial estate and financial plan. The Company will inform each participant during the course of this process as to the amount of professional fees allocated to services performed on such participant's behalf under the program. The value of any such services received will be taxable as ordinary income to the participant.