STOCK GRANT MEMO
Published on March 31, 2005
Exhibit 10(y)
PATRICK
MEMORANDUM
DATE: XXXXXX XX, XXXX
TO: Board of Directors
FROM: Andy L. Nemeth
RE: ________ Stock Awards
On __________, 20XX the Patrick Industries, Inc. Board of Directors' Stock
Option Committee approved the granting of shares as of ________, 20XX to certain
non-employee Directors under the Stock Awards section of the amended 1987 Stock
Option Plan. The shares issued under the Stock Awards section of the Plan are
restricted and are to be held by the Company for one year or until other events
remove the restrictions. The certificates will be held by the
Secretary-Treasurer until such time as they become unrestricted and contain the
following endorsement on the face:
"The shares of stock represented by this certificate and the
transferability thereof are restricted by and subject to a "1987 Restricted
Stock Agreement", a copy of which is on file with the Secretary of the
Company."
Shares have been granted to the following directors for the _______ year:
NAME # OF SHARES
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If there are any questions, please feel free to call me.
Sincerely,
Andy L. Nemeth
Vice President - Finance
Secretary-Treasurer
/dlm