**Exhibit10.2.7**

THE DOE RUN RESOURCESCORPORATION1801 PARK 270 DRIVEST. LOUIS, MISSOURI  63146

August24, 2006

Theodore P. Fox III

49 Pacland Estates Dr.

Chesterfield,MO  63005

Re:                               NetWorth Appreciation Agreement (“Agreement”)

Dear Mr. Fox:

This letter, setsforth the agreement between you and The Doe Run Resources Corporation, (the “Company”) with respect to your Net Worth AppreciationBenefit, intended to constitute additional incentive compensation to you as anemployee of the Company.  The base date ofthis Agreement shall be November 1 (the “Base Date”), 2006 (the “Base Year”).

# 1.             Vesting.  On the Base Date in 2009, provided that youhave been continuously in the employ of the Company from the Base Date in 2006through such date, you shall receive a Net Worth Appreciation Credit of 0.6%and on the Base Date in each of the years 2010 and 2011 you shall receive anadditional Net Worth Appreciation Credit of 0.2%, provided that you have beencontinuously in the employ of the Company from the Base Date in 2006 to theapplicable Base Date, up to a maximum credit, if you remain in the employ ofthe Company continuously through the Base Date in 2011, of 1.0% (the “MaximumCredit”).  The aggregate number of NetWorth Appreciation Credits received on or prior to a given date shall behereinafter referred to as “Vested Credits”. You shall not receive any credit unless you have remained in the employof the Company from the Base Date in 2006 continually until the Base Date in2009, and thereafter you shall not receive credit for any partial year,provided that (a) if your employment terminates due to death or Disability(as defined below) preventing you from performing your usual employmentfunctions and duties prior to the Base Date in 2009, you shall receive a creditof 0.6%, and (b) if your employment terminates after the Base Date in 2009and before the Base Date in 2011, due to death or Disability (as definedbelow), you shall receive a credit of 0.2% for the partial year in which thetermination takes place (in addition to all credits previously accrued underthis Agreement).  For purposes of thisAgreement, “Disability” shall mean a physical or mental impairment that can beexpected to result in death or to last for at least 12 months, and theimpairment either: (1) prevents the employee from engaging in any substantialgainful activity; or (2) entitles the employee to receive income replacementbenefits for at least 3 months under an accident and health plan sponsored bythe Company.

# 2.     Treatmentof Matters in Calculation of Benefits.

## (a)   Forthe purposes of calculating the benefits payable under this Agreement, theCompany will continue to calculate Federal corporate income taxes and thecorporate income taxes for those jurisdictions in which the Company and itssubsidiaries do business, for the fiscal periods or portions thereof beginningon or after the Base Date in 2006, as if the Company had commenced operationson the Base Date in 2006 and as if

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## the Company and its subsidiaries hadcontinued to have C corporation status under the Federal Internal RevenueCode and under state and local tax laws, in accordance with the provisions ofgenerally accepted accounting principles and the Internal Revenue Code andregulations thereunder and under state and local tax laws applicable toC corporations as from time to time in effect (“C Status”).  Such tax calculations will includecalculations of current and deferred tax expense or benefit and current andnon-current tax assets and liabilities (“C Taxes”) and the differences (“TaxDifferences”) between the C Taxes and the taxes as recorded by the Companyand its subsidiaries while being designated a qualified subchapterS subsidiary (“S Taxes”).  Forclarity, the tax basis of the Company’s assets and liabilities will be deemedto be the tax basis as of the Base Date in 2006, except that no net operatingloss carryforward will be deemed to exist as of such date.

## (b)   CumulativeIncome Statement Tax Difference shall be the cumulative difference in incometax expenses or benefit between the calculation of the C Taxes andS Taxes, in each case calculated for the tax periods or portions thereofbeginning on or after the Base Date in 2006, and through the end of thecalculation period.  Cumulative Cash FlowTax Difference shall be the cumulative difference in income tax payments, netof refunds, between the calculation of the C Taxes and S Taxes ineach case made after the Base Date in 2006 and applicable to earnings of theCompany on and after the Base Date in 2006, or which would be in the case ofC Taxes, or are in the case of S Taxes, immediately due and payable,contemporaneously with the payment of any Distributions, as defined below. A “Distribution”for purposes of this Agreement shall mean a dividend, management fee, or anyother form of distribution to The Renco Group, Inc. (“Renco”) or an affiliateof Renco other than a subsidiary of the Company (including a transfer to Renco of assets in any form whether as cash orother form of value which shall have the effect of reducing the net worth ofthe Company), in excess of the Renco Amount (as defined herein), provided thatpayments made in respect of any debt to Renco, including, but not limited to,principal interest and fees thereon, or the preferred stock of the Company,including, but not limited to, dividends thereon and redemptions thereof, shallnot be a Distribution.  The “Renco Amount”shall be equal to $2,400,000 per annum, calculated cumulatively from the BaseDate in 2006 plus the amount of accrued management fees at 10/31/06.

## (c)   Inconnection with the annual audit of the financial statements of the Company,the Company’s Board of Directors will require that the independent publicaccountants issue a special report indicating their agreement with the TaxDifferences.

# 3.     NetWorth Appreciation Benefit.  Upon thetermination of your employment by the Company, other than for cause, you shallbe entitled to a net worth appreciation payment (“Payment”)equal to (A) the product of the Vested Credits and the Net Worth Increment,as defined below, less (B) the product of the Vested Credits and theCumulative Income Statement Tax Difference (the calculation period shall end atthe end of the Company’s fiscal quarter immediately preceding your date oftermination) and excluding such Cumulative Income Statement Tax Difference tothe extent equal to Cumulative Cash Flow Tax Difference utilized in calculatingamounts payable under Paragraph 5(a). The “Net Worth Increment” is the amount, if any, by which theconsolidated net worth of the Company and its subsidiaries, as at the end ofits fiscal quarter immediately preceding the date of your termination, exceedsits consolidated net worth as of the Base Date in the Base Year, provided,however, that any increase in consolidated net worth resulting from a capitalcontribution to the Company or the sale of stock of the

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# Company shall be disregarded in calculating Net Worth Increment, andfurther provided that preferred stock of the Company and cash payments ofdividends and payments in kind thereon shall be treated as debt of the Companyfor purposes of calculating consolidated net worth.  For clarity, it is understood that the NetWorth Increment will not include charges or benefits for interest on therestructured debt of the Company to the extent not included as interest expenseor income under GAAP as accounted for under FAS 15, nor will the TaxDifferences include any benefit or charge for such interest on suchrestructured debt.  The determination ofthe independent public accountants for the Company as to the Net WorthIncrement, made in accordance with generally accepted accounting principles,consistently applied, shall be conclusive on each of us.  If there is no Net Worth Increment, no amountshall be payable.  If your employment isterminated for cause, you shall not be entitled to receive any Payment.  Any termination referred to in this Agreementshall mean separation from service from all members of The Renco Group, Inc.corporate controlled group (within the meaning of Internal Revenue Codesections 414(b), (c), (m), and (o)).

# 4.     Payment.  The Payment shall be payable to you (or yourdesignee or estate) in 40 equal quarterly installments, without interest,commencing three months after the termination of your employment, and at 3month intervals thereafter. Notwithstanding any provision in this Agreement, the Company shall notbe required to pay you (i) any Payment, where the making of such Payment wouldviolate any agreement between the Company and any lender of the Company, or(ii) in the event that any agreement between the Company and any lender of theCompany limits the aggregate amount that the Company may pay as bonuses, networth appreciation payments, profit sharing payments or other payments ofsimilar nature (“Restricted Payments”) during any period, any Payment in excessof your pro rata portion of the aggregate amount of applicable RestrictedPayments which the Company is permitted to pay. In the event that the Company is unable to make a Payment due to the precedingsentence, the Company’s obligation to make such Payment shall be deferred untilsuch time that the Company is permitted to make such Payment pursuant to thepreceding sentence.

# 5.     Dividends;Sale of Substantially All of the Company’s Stock or Assets.

## (a)   Ifand in the event that the Company shall make a Distribution while you shall beemployed by the Company, then you shall be entitled to receive, as additionalcompensation, (“Additional Compensation Benefit”) an amount equal to(A) the excess of  (i) the productof the Maximum Credit and the cumulative Distributions paid by the Companysubsequent to the Base Date in the Base Year over (ii) the product of theMaximum Credit and any positive Cumulative Cash Flow Tax Difference less(B) the amount of Additional Compensation Benefit previously paid to yousubsequent to the Base Date in the Base Year. This provision shall not apply to intercompany payments among theCompany and its own wholly-owned subsidiaries or among two wholly-ownedsubsidiaries of the Company, or to reimbursement to Renco for a proportionatepart of costs, such as audit charges and insurance premiums, paid by Renco onbehalf of itself and its subsidiaries, including the Company.

## (b)   If,while you shall be employed by the Company (and whether before or after theBase Date in 2009), all or substantially all the stock or assets of the Companyshall be sold to a person who is not an affiliate of Ira Leon Rennert, or ifThe Renco Group, Inc. sells a controlling interest in the Company, then, uponthe closing of such sale, your full Maximum Credit shall be deemed to bevested, and you shall be entitled to receive, in kind and on the same terms andconditions as the Company or its shareholder is being

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## paid as payment in full of your participation,an amount equal to (A) the product of the Maximum Credit and any Net Proceeds(as defined below) of the sale, plus (B) the product of the Maximum Credit andthe cumulative Distributions paid by the Company subsequent to the Base Date inthe Base Year, less (C) the product of the Maximum Credit and theCumulative Income Statement Tax Difference through the date of sale, and less(D) the amount of any Additional Compensation Benefit previously paid toyou subsequent to the Base Date in the Base Year.  “Net Proceeds”, for purposes hereof, shall beequal to the amount, if any, of the proceeds of the sale after deducting allexpenses of the sale, all applicable federal, state and local taxes, allliabilities retained by the seller, and all amounts paid or due to holders ofthe Company’s preferred stock. Except for such payment, neither you nor theCompany shall have any further rights or liabilities hereunder.

# 6.     ConditionPrecedent. The Company’s obligation to make the Payment to you shall beconditioned on your faithful adherence to your employment arrangements with theCompany and on your refraining from engaging, during the period over which suchpayments are to be made to you, directly or indirectly in any activity which iscompetitive with the business engaged in by the Company at the date oftermination of your employment.  If youdo engage in any such competitive activities, then we shall no longer beobligated to make any payments to you hereunder.

# 7.     Notice.  Any notices to be sent pursuant hereto shallbe sent by hand, certified or registered mail or overnight service to you, atthe address indicated above and a copy to The Renco Group, Inc. at30 Rockefeller Plaza, New York, NY 10112, 42nd floor, to the attention of Ira LeonRennert, or to any other address which the Company or Renco may designate bynotice in writing.

Please confirmthat the foregoing correctly sets forth our full agreement with respect to yournet worth appreciation benefit by signing and returning the enclosed copy ofthis letter.
|        |   | Very truly yours,                  |
|--------|--------|------------------------------------|
|   |   |                               |
|   |   | The Doe Run Resources Corporation. |
|   |   |                               |
|   |   |                               |
|   |   | /s/ Ira Leon  Rennert              |
|   |   | Ira Leon Rennert                   |
|   |   | Chairman of the  Board             |

Accepted and Agreed to:
| /s/ Theodore P. Fox, III |   |
|--------------------------|--------|
| Theodore P. Fox          |

 

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