Common use of Initial Signing Bonus Clause in Contracts

Initial Signing Bonus. In accordance with the 2016 Agreement, Executive received 58,480 time vested shares of restricted stock of Huttig Building Products, Inc. (“HBP”) under HBP’s 2005 Executive Incentive Compensation Plan, as amended (or any successor plan thereto) (the “Incentive Plan”), with a Fair Market Value (as defined in the Incentive Plan) of $300,000 on November 14, 2016 (the “Initial Signing Bonus”). The shares of restricted stock granted as the Initial Signing Bonus will vest on the fifth anniversary of the Commencement Date. If, prior to such fifth anniversary the Executive is terminated by the Company without Cause, on or after the occurrence of a Change of Control of the Company the Executive terminates his employment for Good Reason, or the Executive dies or the Executive is terminated due to Disability, then the Initial Signing Bonus will become fully vested on the Date of Termination.