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         THIS AGREEMENT made and entered into this 17th day of May 2007, by and
between RONSON CORPORATION, a corporation of the State of New Jersey, having its
principal place of business at Corporate Park III, Campus Drive, Post Office Box
6707, Somerset, New Jersey 08875-6707 (hereinafter called the "Corporation"),
and LOUIS V. ARONSON II, residing at P.O. Box 9, Oldwick, New Jersey 08858
(hereinafter called "Aronson"):

                              W I T N E S S E T H :

         WHEREAS, the November 24, 2003 agreement by its terms expires on
December 31, 2007; and

         WHEREAS, the Corporation desires to continue in its employ Aronson and
Aronson is willing to accept continued employment with the Corporation in an
executive capacity as General Manager, President and Chief Executive Officer of
all domestic and foreign operations; and

         WHEREAS, the Corporation is cognizant of Aronson's substantial
contribution to the Corporation's operations and the importance of having him
continue in the discharge of his present duties; and

         WHEREAS, the Corporation and Aronson desire to fix and determine the
terms and conditions of such employment;

         NOW, THEREFORE, for and in consideration of the promises and mutual
covenants and agreements herein contained, the parties agree as follows:

                  1. The Corporation agrees to and does hereby employ Aronson to
         do and perform all duties and services of a managerial and executive
         character as General Manager, President and Chief Executive Officer of
         the Corporation's manufacturing, marketing, financial and other
         operations which may be required of Ronson by the Board of Directors of
         the Corporation for a period of two (2) years, beginning January 1,
         2008 and ending December 31, 2009. The Corporation further agrees that
         this Agreement will continue after December 31, 2009 from year to year
         - that is to say: from January 1, 2010 to December 31, 2010 and for
         each succeeding year following 2009, subject to the same terms and
         conditions herein contained unless the employment shall be terminated
         by not less than twelve months prior notice in writing given by either
         party to the other, or unless the parties agree to a new employment
         contract prior to the expiration date of this Agreement. The earliest
         termination date, however, shall be December 31, 2009.

                  2. Aronson shall have the general control and management of
         the business of the Corporation and all persons employed in or about
         the same.

                  3. Aronson shall be entitled to four (4) weeks vacation with
         full compensation in each year.

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                  4. Aronson hereby accepts such employment and agrees that
         during the aforementioned period of two (2) years, or extensions
         thereof, he will serve the Corporation faithfully and to the best of
         his ability, and that during the term of such employment he will devote
         his energy and abilities to the fulfillment of the duties and services
         to be performed by him, as set forth in this Agreement.

                  5. For the services to be rendered by Aronson to the
         Corporation during the aforementioned two-year period of his
         employment, the Corporation agrees that it will, during the term
         hereof:

                  (a) Pay Aronson an annual base salary, commencing with January
         1, 2008 equivalent to the base salary level in 2007 of $572,991,
         payable semi-monthly or at other stated periods as may be mutually
         agreed. Said annual base salary shall annually, on January 1, be
         increased by three and one-half percent (3 1/2%) providing Ronson
         Corporation consolidated has an operating profit the prior year. In the
         event Ronson Corporation does not have an operating profit in the
         preceding year, then the base salary will be the same as the prior year
         without any increase.

                  (b) Aronson shall be entitled to all benefits provided by the
         Corporation, and he shall be included in the Corporations' Top
         Management Incentive Plan (PIE);

                  (c) Reimburse Aronson for all ordinary and reasonable expenses
         incurred by him in connection with and related to the duties performed
         and services rendered to the Corporation by him hereunder;

                  (d) Make available to Aronson a suitable automobile for his
         use and pay all expenses in connection therewith;

                  (e) In the event of the death of Aronson prior to the
         expiration of this Agreement, the Corporation will pay to the widow of
         Aronson (or, in the event of her death, to his designated beneficiary
         or beneficiaries) the equivalent of two (2) full years' compensation,
         including any of the incentive compensation, deferred or otherwise,
         that was payable to Aronson during the year immediately preceding his
         death. These sums of money shall be paid in equal quarterly
         installments over a period of three (3) years and until these sums of
         money have been fully paid and satisfied, interest on any unpaid
         balance shall be at the prime interest rate as determined by Citibank,
         N.A.

                  (f) In the event Aronson, during the term of this Agreement,
         is unable to perform his duties because of illness or other reason
         beyond his control (other than death), he shall continue to receive
         full compensation, payable monthly during the remainder of this
         Agreement. If any of the events referred to above takes place in the
         last twelve months of this Agreement, then, following the end of the
         term of this Agreement, Aronson shall be

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         entitled to receive one full year of additional compensation, payable
         monthly, under the terms of this Agreement.

                  6. In the event of the reorganization, acquisition, merger or
         consolidation of the corporation with, or sale of substantially all of
         the assets of the corporation to, any other entity (trust, etc.), the
         Corporation, or any other successor or entity (trust, etc.) shall
         undertake and accept the conditions of this Agreement and the
         obligation to continue the employment of Aronson with such reorganized,
         acquired, merged or consolidated corporation in accordance with the
         terms and conditions of this Agreement.

                  7. This Agreement shall be binding upon and inure to the
         benefit of Aronson and his heirs and legal representatives and to the
         Corporations or its successors and assignees.

         IN WITNESS WHEREOF, the Corporation has caused this instrument to be
executed by its duly authorized officers and its corporate seal to be affixed,
and Aronson has hereunto set his hand and seal the day and year first above
written.


ATTEST:                                          RONSON CORPORATION


                                                 By:
---------------------------                          ---------------------------
                                                     Justin P. Walder, Secretary


WITNESS:



---------------------------                          ---------------------------
                                                     Louis V. Aronson II