<PAGE>
                                                                Exhibit 10.30

                             Oglebay Norton Company
                            Management Incentive Plan


                                   ARTICLE 1

                             PURPOSE AND DEFINITIONS

1.1      Purpose. The purpose of this Oglebay Norton Company Management
         Incentive Plan is to retain key employees of Oglebay Norton Company and
         its subsidiaries by providing them with incentives for continued
         service.

1.2      Definitions. The following words and phrases as used herein shall have
         the following meanings, unless a different meaning is required by the
         context:

         "Annual Base Salary" shall mean the Participant's gross annual base
         salary at the higher of the rate in effect immediately before payment
         is to be made under the terms of this Plan or the rate in effect on the
         Effective Date.

         "Board" shall mean the Board of Directors of the Company as constituted
         at any time.

         "Cause" shall mean, with respect to a Participant, the following: (i)
         if the Participant has an employment agreement in effect with an
         Employer which contains a definition of cause, then the definition of
         the term "Cause" for purposes of the Plan shall be as defined in such
         employment agreement, or (ii) if the Participant does not have an
         employment agreement in effect with an Employer which contains a
         definition of cause, then "Cause" for purposes of this Plan shall mean
         (A) the Participant's failure to properly perform the Participant's
         duties for the Employer (except due to physical or mental impairment);
         (B) the Participant's material violation of Employer policies as
         communicated to the Participant; (C) the Participant's conviction of,
         or plea of nolo contendere to a felony under the laws of the United
         States or any state or political subdivision thereof; or (D) the
         commission of any other act by the Participant which brings an Employer
         into substantial public disgrace or disrepute. Notwithstanding the
         foregoing, "Cause" shall not be deemed to exist under clause (ii)(A),
         (ii)(B) or (ii)(D) unless the Committee provides the Participant with
         specific written notice of the facts relating to such event and the
         Participant does not cure such conduct within ten (10) business days
         after the receipt of such notice.

         "Code" shall mean the Internal Revenue Code of 1986, as amended.

         "Committee" shall have the meaning specified in Section 5.1.

         "Company" shall mean Oglebay Norton Company.

         "Disabled" shall have the same meaning as under the Company's long-term
         disability plan, as in effect from time to time.

<PAGE>


         "Discretionary Bonus Pool" shall have he meaning set forth in Section
         2.3.

         "Effective Date" shall mean the effective date of the joint plan of
         reorganization of the Company and the other debtors named therein,
         including all amendments and modifications thereto (the "Plan of
         Reorganization"), as confirmed by the United States Bankruptcy Court
         for the District of Delaware, in the matter of In re ONCO Investment
         Company, a Delaware corporation, et al., Case No. 04-10558 (JBR).

         "Employer" shall mean the Company and/or the Subsidiaries, as
         applicable.

         "ERISA" shall mean the Employee Retirement Income Security Act of 1974,
         as amended.

         "Participant" shall mean any employee of an Employer who is entitled to
         participate in the Plan in accordance with Section 2.1, Section 2.3 or
         Section 3.1.

         "Plan" shall mean this Oglebay Norton Company Management Incentive
         Plan.

         "Retention Bonus" shall mean the amount payable as determined pursuant
         to Section 2.1.

         "Subsidiary" shall mean any corporation or limited liability company,
         50% or more of whose stock or membership interests having general
         voting power is owned by the Company, or by another Subsidiary as
         herein defined, of the Company or any limited partnership of which the
         Company or another Subsidiary is the sole general partner.

         "Supplemental Severance Pay" shall mean the amount payable as
         determined pursuant to Section 3.1.

                                   ARTICLE 2

                    RETENTION BONUS; DISCRETIONARY BONUS POOL

2.1      Retention Bonus. Each Participant listed on Schedule A hereto shall be
         eligible to receive a retention bonus in an amount equal to the
         Participant's Annual Base Salary multiplied by the retention bonus
         percentage set forth opposite such Participant's name (the "Retention
         Bonus"); provided, however, that with respect to each Participant who
         holds one of the titles listed on Schedule B hereto, the amount of such
         Participant's Retention Bonus shall be reduced by 5% for each completed
         calendar month by which the Effective Date is delayed beyond January
         15, 2005.

2.2      Payment of Retention Bonus.

                  (a)      The Employer that employs the Participant at the time
                           of payment shall pay the Retention Bonus in
                           installments to each Participant as follows: (i)
                           one-half of the Retention Bonus on the Effective Date
                           and (ii) one-half of the Retention Bonus on the 90th
                           day following the Effective Date; provided that the
                           Participant must be actively employed with the
                           Employers and in good standing with respect to all
                           employment policies






                                     Page 2
<PAGE>


                           of the Employers on the date the applicable payment
                           becomes due. Except as described in Subsection (b)
                           below, in the event that the Participant terminates
                           employment with the Employers or the Employers
                           terminate the Participant's employment for Cause
                           prior to the date on which the applicable payment is
                           due, then such payment shall be forfeited and the
                           Participant shall not be eligible to receive such
                           payment.

                  (b)      Notwithstanding the foregoing, in the event that an
                           Employer terminates the employment of a Participant
                           without Cause or a Participant dies or becomes
                           Disabled before receiving his entire Retention Bonus,
                           such Participant (or his estate in the event of his
                           death) shall continue to be entitled to receive any
                           unpaid installments of the Retention Bonus from the
                           former Employer on the same date and in the same
                           manner as if such Participant had remained actively
                           employed with the Employers.

2.3      Discretionary Bonus Pool. A discretionary bonus pool of $250,000 (the
         "Discretionary Bonus Pool") may be allocated after the Effective Date
         to one or more salaried, non-union employees of the Employers who are
         not listed on Schedule A, who were employed on February 23, 2004 and
         who are designated by the Committee, upon recommendations from the
         management team of the Company, as Participants for the purpose of
         participation in the Discretionary Bonus Pool. The bonus due to each
         such Participant designated pursuant to this Section 2.3 and the terms
         and conditions thereof shall be determined by the Committee; upon
         recommendations from the management team of the Company, provided,
         however, that not more than $10,000 shall be allocated to any one such
         Participant. In the event a Participant forfeits any portion of the
         benefit payable pursuant to this Section 2.3, the amount of such
         benefit shall be restored to the Discretionary Bonus Pool and shall
         again be available for allocation pursuant to this Section 2.3.

2.4      Time and Method of Payment. Amounts payable pursuant to this Article 2
         shall be paid in a lump sum as soon as practicable, but no later than
         five business days, after the applicable payment becomes due.

                                   ARTICLE 3

                           SUPPLEMENTAL SEVERANCE PAY

3.1      Supplemental Severance Pay. Each Participant listed on Schedule A
         hereto shall be eligible to receive Supplemental Severance Pay in an
         amount equal to the Participant's Annual Base Salary multiplied by the
         severance pay percentage set forth opposite such Participant's name, in
         the event that the Participant's employment is terminated by the
         Employers without Cause within 12 months following the Effective Date;
         provided, however, that the amount of a Participant's Supplemental
         Severance Pay shall be reduced by 1/12th of the Participant's Annual
         Base Salary multiplied by the severance pay percentage set forth
         opposite such Participant's name on Schedule A hereto and multiplied by
         each completed calendar month of employment with the Employers after
         the Effective Date (but not exceeding six months).



                                     Page 3
<PAGE>

3.2      Payment of Supplemental Severance Pay. As a condition to receiving any
         Supplemental Severance Pay pursuant to Section 3.1, the Participant
         shall be required to enter into a release of claims agreement in a form
         satisfactory to the Company. The Supplemental Severance Pay shall be
         paid in a lump sum on or as soon as practicable after the date on which
         the release executed by the Participant becomes irrevocable.

                                   ARTICLE 4

                                     CLAIMS

4.1      Claims Procedure. The Committee shall determine the rights of any
         employee or former employee of the Company or a Subsidiary to benefits
         hereunder. Any employee or former employee of the Company or a
         Subsidiary who believes that he is entitled to receive a benefit under
         the Plan, other than that initially determined by the Committee, may
         file a claim in writing with the Committee. Unless such claim is
         allowed in full, the Committee shall (within 90 days after such claim
         was filed, plus an additional 90 days if the Committee determines that
         special circumstances require an extension of time for processing the
         claim and if written notice of the additional 90-day extension of time
         indicating the specific circumstances requiring the extension and the
         date by which a decision shall be rendered is given to the claimant
         within the first 90-day period) cause written notice to be mailed to
         the claimant of the total or partial denial of such claim.

         Such notice shall be written in a manner calculated to be understood by
         the claimant and shall: (i) state the specific reason(s) for the
         adverse benefit determination; (ii) make reference(s) to the specific
         provisions of the Plan on which the determination was based; (iii)
         contain a description of any additional material or information
         necessary for the claimant to perfect the claim and an explanation of
         why such material or information is necessary; and (iv) contain a
         description of the claim review procedures, and the time limits
         applicable to such procedures, including a statement of the claimant's
         right to bring a civil action under Section 502(a) of ERISA following
         an adverse benefit determination on review.

         Within 60 days after the claimant's receipt of a notice of the denial
         of his claim, the claimant or his duly authorized representative may
         appeal such denial by filing with the Committee a written request for a
         review of his claim. If such an appeal is so filed within 60 days, the
         Committee, or a person designated by the Committee, shall conduct a
         full and fair review of such claim. During such full and fair review,
         the claimant shall be provided with the opportunity to submit written
         comments, documents, records, and other information relating to the
         claim for benefits, and reasonable access to and copies of, upon
         request and free of charge, all documents, records, and other
         information relevant to the claimant's claim for benefits. In addition,
         such full and fair review shall take into account all comments,
         documents, records, and other information submitted by the claimant
         relating to the claim, without regard to whether such information was
         submitted or considered in the initial benefit determination.

         The decision of the Committee or its designee shall be made in a
         writing delivered to the claimant who filed such an appeal, within a
         reasonable time, but in no event later than 60



                                     Page 4
<PAGE>

         days after receipt of the request for review unless special
         circumstances require an extension of time for processing. If the
         Committee or its designee determines that an extension of time for
         processing is required, written notice of the extension shall be
         furnished to the claimant who filed the appeal setting forth the
         special circumstances requiring an extension of time and the date by
         which the Committee or its designee expects to render a decision on
         review, and shall be furnished prior to the termination of the initial
         60-day period. In no event shall such extension exceed a period of 60
         days from the end of the initial 60-day period.

         If required by ERISA, the decision on review shall be made by a person
         designated by the Committee but who is not a member of the Committee
         and who shall not afford deference to the initial adverse
         determination.

         In the case of a denial of the claim on review, the notice of the
         determination shall: (i) be written in a manner calculated to be
         understood by the claimant; (ii) state the specific reason(s) for the
         decision; (iii) make reference(s) to the specific provision(s) of the
         Plan on which the determination was based; (iv) contain a statement
         that the claimant is entitled to receive, upon request, and free of
         charge, reasonable access to, and copies of, all documents, records,
         and other information relevant to the claimant's claim for benefits;
         and (v) contain a statement describing any voluntary appeal procedures
         offered by the Plan and the claimant's right to bring an action under
         Section 502(a) of ERISA. To the extent permitted by applicable law, the
         determination on review shall be final and binding on all interested
         persons.

4.2      Agent for Service of Legal Process. Service of legal process upon the
         Plan shall be made upon any member of the Committee. If service by mail
         is permitted, the address to be used for the Committee is care of the
         Company, at the address set forth in Section 5.2.

                                   ARTICLE 5

                                 ADMINISTRATION

5.1      Committee. The Plan shall be administered by the Board, or by a
         Committee of the Board designated to administer the Plan. During any
         period of time in which the Plan is administered by the Board, all
         references in the Plan to the Committee shall be deemed to refer to the
         Board.

5.2      Plan Sponsor and Plan Administrator. The Company is the sponsor of the
         Plan and shall administer the Plan through the Committee. The address
         of the Company is: North Point Tower, 1001 Lakeside Avenue, Cleveland,
         Ohio 44114.

5.3      Powers. The Committee shall have the power to do all things necessary
         or convenient to effect the intent and purposes of the Plan, whether or
         not such powers are specifically set forth herein, and, by way of
         amplification and not limitation of the foregoing, the Committee shall
         have authority, in its reasonable judgment, to:

                  (a)      provide rules for the management, operation and
                           administration of the Plan, and, from time to time,
                           amend or supplement such rules;


                                     Page 5
<PAGE>

                  (b)      construe the Plan in good faith to the fullest extent
                           permitted by law;

                  (c)      correct any defect, supply any omission, or reconcile
                           any inconsistency in the Plan in such manner and to
                           such extent as it shall deem appropriate in its
                           reasonable discretion to carry the same into effect;
                           and

                  (d)      make reasonable determinations as to a Participant's
                           eligibility for benefits under the Plan, including
                           determinations as to the existence of Cause.

5.4      Binding Authority. The decisions of the Committee shall be final and
         conclusive for all purposes of the Plan.

5.5      Information. Each Employer shall furnish to the Committee in writing
         all information the Committee may deem appropriate for the exercise of
         its powers and duties in the administration of the Plan. Such
         information shall be conclusive for all purposes of the Plan, and the
         Committee shall be entitled to rely thereon without any investigation
         thereof.

                                   ARTICLE 6

                               GENERAL PROVISIONS

6.1      Unfunded Benefits/Liability for Payment. All benefits payable under the
         Plan shall be paid out of the general assets of the Employer that
         employed the Participant at the time such benefit became payable (or,
         if applicable, the Employer that employed the Participant at the time
         of his termination without Cause or his death or disability). No
         Employer shall be liable for the benefit obligations of any other
         Employer hereunder. Any person who may have or claim any interest in or
         right to any compensation, payment or benefit payable hereunder, shall
         have solely the status of a general unsecured creditor of the Employer
         (or former Employer, if applicable) of the Participant and the Plan
         constitutes a mere promise by each such Employer to make benefit
         payments in the future. Nothing herein contained shall be construed to
         give to or vest in any person now or at any time in the future, any
         right, title, interest or claim in or to any specific asset, fund,
         reserve, account, insurance or annuity policy or contract or other
         property of any kind whatsoever owned by any Employer or in which any
         Employer may have any right, title or interest now or at any time in
         the future. It is the intention of the Employers and the Participants
         that the Plan be unfunded for tax purposes and for purposes of Title I
         of ERISA.

6.2      Withholding. Payments under the Plan are subject to such federal, state
         and local income tax withholding and all other federal, state and local
         taxes (including but not limited to Social Security) as are applicable.
         The applicable Employer shall withhold from any payments it makes under
         the Plan, all applicable federal, state and local withholding taxes.

6.3      Payment Restriction. Notwithstanding any provision of the Plan to the
         contrary, the payment of all or any portion of the amounts payable
         hereunder will be deferred to the extent that any amount payable, when
         added to any other compensation received or to be


                                     Page 6
<PAGE>

         received by the Participant in the same calendar year, would not be
         deductible by an Employer by reason of Section 162(m) of the Code. The
         amount to be deferred will equal the amount that otherwise would not be
         deductible by the Employer by reason of Section 162(m) of the Code, but
         in no event greater than the total amount otherwise payable hereunder.
         The deferred amount shall become payable on December 31 of the first
         succeeding calendar year in which such amount, when added to all other
         compensation received or to be received by the Participant in such
         calendar year, would not be non-deductible by the Employer by reason of
         Section 162(m) of the Code. The Committee, in its sole and absolute
         discretion, shall have the authority to waive this payment restriction
         (in whole or in part) upon the written request of the Participant.

6.4      Cumulative Benefits. The benefits provided to any Participant under
         this Plan are cumulative of, and are in addition to, all of the other
         benefits provided to such Participant under any other benefit plan
         maintained, sponsored or provided by an Employer, or any agreement
         between such Participant and an Employer.

6.5      Amendment or Termination. The Plan may not be amended in any way to
         reduce the benefits payable hereunder to a Participant or otherwise
         impair his ability to receive any amount due hereunder, without the
         prior written consent of the Participant. Notwithstanding the
         foregoing, the Plan shall terminate when all obligations to
         Participants have been satisfied in full.

6.6      Severability. If any term or condition of the Plan shall be invalid or
         unenforceable to any extent or in any application, then the remainder
         of the Plan, with the exception of such invalid or unenforceable
         provision, shall not be affected thereby and shall continue in effect
         and application to its fullest extent.

6.7      No Employment Rights. Neither the establishment of the Plan, any
         provisions of the Plan, nor any action of the Committee shall be held
         or construed to confer upon any employee the right to a continuation of
         employment by the Company or any Subsidiary.

6.8      Transferability of Rights. A Participant's rights to any benefit under
         the Plan are not subject in any manner to anticipation, alienation,
         sale, transfer, assignment, pledge, encumbrance, attachment, or
         garnishment by creditors of the Participant. Any attempt to transfer or
         assign a benefit, or any rights granted hereunder, by a Participant
         shall, in the sole discretion of the Committee (after consideration of
         such facts as it deems pertinent), be grounds for terminating any
         rights of the Participant to any portion of the benefits not yet
         received by the Participant.

6.9      Governing Law. The Plan shall be construed, administered, and enforced
         according to the laws of the State of Ohio, except to the extent that
         such laws are preempted by the federal laws of the United States of
         America. In futherance of, but without limiting the foregoing, benefits
         hereunder shall comply with, and be administered in compliance with,
         the requirements of Section 409A of the code, as enacted by the
         American Jobs Creation Act of 2004, to the extent applicable. The venue
         for all actions or proceedings brought by the Company or any
         Participant arising out of or relating to the Plan shall be in the
         state or federal courts, as the case may be, located in Cleveland,
         Ohio. The Company and the Participants hereby irrevocably waive any
         objection which they now or hereafter may have to the laying of venue
         of any action or proceeding arising out of or



                                     Page 7
<PAGE>

         relating to the Plan brought in any such courts and any objection on
         the ground that any such action or proceeding in any such courts has
         been brought in an inconvenient forum.

6.10     Gender Neutrality. The masculine pronoun shall be deemed to include the
         feminine, and the singular number shall be deemed to include the plural
         unless a different meaning is plainly required by the context.

6.11     Effective Date. The Plan shall be effective as of the Effective Date.

         IN WITNESS WHEREOF, the Company has caused these presents to be
executed by its duly authorized officer as of the Effective Date.




                                            OGLEBAY NORTON COMPANY

                                            By:
                                                -------------------------------
                                                Name:
                                                Title:


                                     Page 8