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                                                                   Exhibit 10.3

                               SEVERANCE AGREEMENT
                               -------------------

                  THIS SEVERANCE AGREEMENT (this "Agreement"), dated as of
October 25, 1996, is made and entered into by and between Belden & Blake 
Corporation, an Ohio corporation (the "Corporation"), and ________________ (the
"Executive").

                                   WITNESSETH:
                                   -----------

                  WHEREAS, the Executive is a senior executive or a key employee
of the Company (as defined herein) and has made and is expected to continue to 
make major contributions to the short- and long-term profitability, growth and 
financial strength of the Company;

                  WHEREAS, the Company recognizes that, as is the case for most
publicly held companies, the possibility of a Change in Control (as defined
below) exists;

                  WHEREAS, the Company desires to assure itself of both present
and future continuity of management and desires to establish certain minimum
severance benefits for certain of its senior executives, including the
Executive, applicable in the event of a Change in Control;

                  WHEREAS, the Company wishes to ensure that its senior
executives are not practically disabled from discharging their duties in respect
of a proposed or actual transaction involving a Change in Control; and

                  WHEREAS, the Company desires to provide additional inducement
for the Executive to continue to remain in the ongoing employ of the Company.

                  NOW, THEREFORE, the Company and the Executive agree as
follows:

                  1. CERTAIN DEFINED TERMS. In addition to terms defined
elsewhere herein, the following terms have the following meanings when used in
this Agreement with initial capital letters:

                  (a) "Base Pay" means the Executive's annual base salary at a
         rate not less than the Executive's annual fixed or base compensation as
         in effect for Executive immediately prior to the occurrence of a Change
         in Control or such higher rate as may be determined from time to time
         by the Board or a committee thereof. "Base Pay" shall include any
         portion of the Executive's annual base salary the receipt of which the
         Executive has elected to defer.

                  (b) "Board" means the Board of Directors of the Corporation.


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                  (c) "Cause" means that, prior to any termination pursuant to
         Section 3(b), the Executive shall have committed:

                        (i) an intentional act of fraud, embezzlement or theft 
                  in connection with his duties or in the course of his 
                  employment with the Company or any Subsidiary;

                       (ii) intentional wrongful damage to property of the
                  Company or any Subsidiary;

                      (iii) intentional wrongful disclosure of secret processes
                  or confidential information of the Company or any Subsidiary;
                  or

                       (iv) intentional wrongful engagement in any Competitive
                  Activity;

         and any such act shall have been materially harmful to the Company. For
         purposes of this Agreement, no act or failure to act on the part of the
         Executive shall be deemed "intentional" if it was due primarily to an
         error in judgment or negligence, but shall be deemed "intentional" only
         if done or omitted to be done by the Executive not in good faith and
         without reasonable belief that his action or omission was in the best
         interest of the Company. Notwithstanding the foregoing, the Executive
         shall not be deemed to have been terminated for "Cause" hereunder
         unless and until there shall have been delivered to the Executive a
         copy of a resolution duly adopted by the affirmative vote of not less
         than three quarters of the Board then in office at a meeting of the
         Board called and held for such purpose, after reasonable notice to the
         Executive and an opportunity for the Executive, together with his
         counsel (if the Executive chooses to have counsel present at such
         meeting), to be heard before the Board, finding that, in the good faith
         opinion of the Board, the Executive had committed an act constituting
         "Cause" as herein defined and specifying the particulars thereof in
         detail. Nothing herein will limit the right of the Executive or his
         beneficiaries to contest the validity or propriety of any such
         determination.

                  (d) "Change in Control" means the occurrence during the Term
         of any of the following events:

                       (i) The Corporation is merged, consolidated or 
                  reorganized into or with another corporation or other legal
                  person, and as a result of such merger, consolidation or
                  reorganization less than a majority of the combined voting
                  power of the then-outstanding Voting Stock of the corporation
                  or person surviving such merger, consolidation or
                  reorganization, immediately after such transaction, are
                  beneficially held, directly or indirectly, in the aggregate
                  by the
        
        
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                  beneficial holders of Voting Stock of the Corporation 
                  immediately prior to such transaction;

                      (ii) The Corporation sells or otherwise transfers all or
                  substantially all of its assets to another corporation or
                  other legal person, and as a result of such sale or transfer
                  less than a majority of the combined voting power of the
                  then-outstanding Voting Stock of such corporation or person
                  immediately after such sale or transfer is held in the
                  aggregate by the holders of Voting Stock of the Company
                  immediately prior to such sale or transfer;

                     (iii) There is a report filed on Schedule 13D or Schedule
                  14D-1 (or any successor schedule, form or report), each as
                  promulgated pursuant to the Exchange Act, disclosing that any
                  person (as the term "person" is used in Section 13(d)(3) or
                  Section 14(d)(2) of the Exchange Act) has become the
                  beneficial owner (as the term "beneficial owner" is defined
                  under Rule 13d-3 or any successor rule or regulation
                  promulgated under the Exchange Act) of securities representing
                  25% or more of the combined voting power of the
                  then-outstanding Voting Stock of the Corporation;

                      (iv) The Corporation files a report or proxy statement 
                  with the Securities and Exchange Commission pursuant to the
                  Exchange Act disclosing in response to Form 8-K or Schedule
                  14A (or any successor schedule, form or report or item
                  therein) that a change in control of the Company has occurred
                  or will occur in the future pursuant to any then-existing
                  contract or transaction; or
        
                       (v) If, during any period of two consecutive years,
                  individuals who at the beginning of any such period constitute
                  the Directors of the Corporation cease for any reason to
                  constitute at least a majority thereof; PROVIDED, HOWEVER,
                  that for purposes of this clause (v) each Director who is
                  first elected, or first nominated for election by the
                  Company's stockholders, by a vote of at least two-thirds of
                  the Directors of the Corporation (or a committee thereof) then
                  still in office who were Directors of the Corporation at the
                  beginning of any such period will be deemed to have been a
                  Director of the Corporation at the beginning of such period.

         Notwithstanding the foregoing provisions of Paragraph (iii) or (iv) of
         this Subsection, unless otherwise determined in a specific case by
         majority vote of the Board, a "Change in Control" shall not be deemed
         to have occurred for purposes of Paragraph (iii) or (iv) of this
         Subsection solely because (A) the Corporation, (B) a Subsidiary, 
         (C) any Company-


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         sponsored employee stock ownership plan or any other employee benefit
         plan of the Company or any Subsidiary, (D) any person or group of which
         employees of the Company or a Subsidiary control a greater than 25%
         interest unless the Board determines that such person or group is
         making a "hostile acquisition", or (E) any person or group of which the
         Executive is an affiliate either files or becomes obligated to file a
         report or a proxy statement under or in response to Schedule 13D,
         Schedule 14D-1, Form 8-K or Schedule 14A (or any successor schedule,
         form or report or item therein) under the Exchange Act disclosing
         beneficial ownership by it of shares of Voting Stock, whether in excess
         of 25% or otherwise, or because the Corporation reports that a change 
         in control of the Corporation has occurred or will occur in the 
         future by reason of such beneficial ownership.

                  (e) "Company" means the Corporation and its Subsidiaries.

                  (f) "Competitive Activity" means the Executive's
         participation, without the written consent of an officer of the
         Corporation, in the management of any business enterprise if such
         enterprise engages in substantial and direct competition with the
         Company and such enterprise's sales of any product or service
         competitive with any product or service of the Company amounted to 10%
         of such enterprise's net sales for its most recently completed fiscal
         year and if the Company's net sales of said product or service amounted
         to 10% of the Company's net sales for its most recently completed
         fiscal year. "Competitive Activity" will not include (i) the mere
         ownership of securities in any such enterprise and the exercise of
         rights appurtenant thereto or (ii) participation in the management of
         any such enterprise other than in connection with the competitive
         operations of such enterprise.

                  (g) "Employee Benefits" means the perquisites, benefits and
         service credit for benefits as provided under any and all employee
         retirement income and welfare benefit policies, plans, programs or
         arrangements in which Executive is entitled to participate, including
         without limitation any stock option, stock purchase, stock
         appreciation, savings, pension, supplemental executive retirement, or
         other retirement income or welfare benefit, deferred compensation,
         incentive compensation, group or other life, health, medical/hospital
         or other insurance (whether funded by actual insurance or self-insured
         by the Company), disability, salary continuation, expense reimbursement
         and other employee benefit policies, plans, programs or arrangements
         that may now exist or any equivalent successor policies, plans,
         programs or arrangements that may be adopted hereafter by the Company,
         providing perquisites, benefits and service credit for benefits at
         least as great



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         in the aggregate as are payable thereunder prior to a Change
         in Control.

                  (h) "Exchange Act" means the Securities Exchange Act of 1934,
         as amended.

                  (i) "Incentive Pay" means an annual amount equal to not less
         than the highest aggregate annual bonus (whether paid in cash or stock
         and regardless of any election to defer actual payment of all or any
         portion of such bonus), incentive or other payments of compensation
         (including the stock portion of the profit-sharing payment contributed
         by the Company to the Belden & Blake Corporation 401(k) Profit Sharing
         Plan, but not cash or stock payments in lieu of distributions of
         restricted stock which vested in any year or stock options), in
         addition to Base Pay, made or to be made in regard to services rendered
         in any calendar year during the three calendar years immediately
         preceding the year in which the Change in Control occurred pursuant to
         any bonus, incentive, profit-sharing, performance, discretionary pay or
         similar agreement, policy, plan, program or arrangement (whether or not
         funded) of the Company, or any successor thereto providing benefits at
         least as great as the benefits payable thereunder prior to a Change in
         Control.

                  (j) "Severance Period" means the period of time commencing on
         the date of the first occurrence of a Change in Control and continuing
         until the earliest of (i) the third anniversary of the occurrence of
         the Change in Control, (ii) the Executive's death, or (iii) the
         Executive's attainment of age 65.

                  (k) "Subsidiary" means an entity in which the Corporation
         directly or indirectly beneficially owns 50% or more of the 
         outstanding Voting Stock.

                  (l) "Term" means the period commencing as of the date hereof
         and expiring as of the later of (i) the close of business on December
         31, 1998, or (ii) the expiration of the Severance Period; PROVIDED,
         HOWEVER, that (A) commencing on January 1, 1998 and each January 1
         thereafter, the term of this Agreement will automatically be extended
         for an additional year unless, not later than September 30 of the
         immediately preceding year, the Company or the Executive shall have
         given notice that it or the Executive, as the case may be, does not
         wish to have the Term extended and (B) subject to the last sentence of
         Section 10, if, prior to a Change in Control, the Executive ceases for
         any reason to be an employee of the Company and any Subsidiary,
         thereupon without further action the Term shall be deemed to have
         expired and this Agreement will immediately terminate and be of no
         further effect. For purposes of this Subsection, the Executive shall
         not be deemed to have ceased to be an employee of the



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         Company by reason of the transfer of Executive's employment between 
         the Corporation and any Subsidiary, or among any Subsidiaries.

                  (m) "Termination Date" means the date on which the Executive's
         employment with the Company is terminated (the effective date of which 
         shall be the date of termination, or such other date that may be 
         specified by the Executive if the termination is pursuant to Section 
         3(b)).

                  (n) "Voting Stock" means securities entitled to vote generally
         in the election of directors.

                  2. OPERATION OF AGREEMENT. This Agreement will be effective
and binding immediately upon its execution, but, anything in this Agreement to
the contrary notwithstanding, this Agreement will not be operative unless and
until a Change in Control occurs. Upon the occurrence of a Change in Control at
any time during the Term, without further action, this Agreement shall become
immediately operative.

                  3. TERMINATION FOLLOWING A CHANGE IN CONTROL. (a) In the event
         of the occurrence of a Change in Control, the Executive's employment
         may be terminated by the Company during the Severance Period and the
         Executive shall be entitled to the benefits provided by Section 4
         unless such termination is the result of the occurrence of one or more
         of the following events:

                       (i) The Executive's death;

                      (ii) If the Executive becomes permanently disabled within
                  the meaning of, and begins actually to receive disability
                  benefits pursuant to, the long-term disability plan in effect
                  for, or applicable to, Executive immediately prior to the
                  Change in Control; or

                     (iii) Cause.

         If, during the Severance Period, the Executive's employment is
         terminated by the Company or any Subsidiary other than pursuant to
         Paragraph (i), (ii) or (iii) of this Subsection, the Executive will be
         entitled to the benefits provided by Section 4.

                  (b) In the event of the occurrence of a Change in Control, the
         Executive may terminate employment with the Company and any Subsidiary
         during the Severance Period with the right to the benefits provided in
         Section 4 upon the occurrence of one or more of the following events
         (regardless of whether any other reason, other than Cause as
         hereinabove provided, for such termination exists or has occurred,
         including without limitation other employment):



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                        (i) Failure to elect or reelect or otherwise to maintain
                  the Executive in the office or the position, or a
                  substantially equivalent office or position, of or with the
                  Company and/or a Subsidiary, as the case may be, which the
                  Executive held immediately prior to a Change in Control, or
                  the removal of the Executive as a Director of the Corporation 
                  (or any successor thereto) if the Executive shall have been a
                  Director of the Corporation immediately prior to the Change in
                  Control;

                       (ii) (A) A significant adverse change in the nature or
                  scope of the authorities, powers, functions, responsibilities
                  or duties attached to the position with the Company and any
                  Subsidiary which the Executive held immediately prior to the
                  Change in Control, (B) a reduction in the aggregate of the
                  Executive's Base Pay and Incentive Pay received from the
                  Company and any Subsidiary, or (C) the termination or denial
                  of the Executive's rights to Employee Benefits or a reduction
                  in the scope or value thereof, any of which is not remedied by
                  the Company within 10 calendar days after receipt by the
                  Corporation of written notice from the Executive of such 
                  change, reduction or termination, as the case may be;

                      (iii) The liquidation, dissolution, merger, consolidation
                  or reorganization of the Corporation or transfer of all or
                  substantially all of its business and/or assets, unless the
                  successor or successors (by liquidation, merger,
                  consolidation, reorganization, transfer or otherwise) to which
                  all or substantially all of its business and/or assets have
                  been transferred (directly or by operation of law) assumed all
                  duties and obligations of the Company under this Agreement
                  pursuant to Section 12(a);

                       (iv) The Company relocates its principal executive
                  offices, or requires the Executive to have his principal
                  location of work changed, to any location that is in excess of
                  25 miles from the location thereof immediately prior to the
                  Change in Control, or requires the Executive to travel away
                  from his office in the course of discharging his
                  responsibilities or duties hereunder at least 20% more (in
                  terms of aggregate days in any calendar year or in any
                  calendar quarter when annualized for purposes of comparison to
                  any prior year) than was required of Executive in any of the
                  three full years immediately prior to the Change in Control
                  without, in either case, his prior written consent; or

                        (v) Without limiting the generality or effect of the
                  foregoing, any material breach of this Agreement by the
                  Company or any successor thereto.



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                  (c) A termination by the Company pursuant to Subsection (a) of
         this Section or by the Executive pursuant to Subsection (b) of this
         Section will not affect any rights that the Executive may have pursuant
         to any agreement, policy, plan, program or arrangement of the Company
         providing Employee Benefits, which rights shall be governed by the
         terms thereof.

                  4. SEVERANCE COMPENSATION. (a) If, following the occurrence of
         a Change in Control, the Company terminates the Executive's employment
         during the Severance Period other than pursuant to Section 3(a), or if
         the Executive terminates his employment pursuant to Section 3(b), the
         Company will pay to the Executive the following amounts within five
         business days after the Termination Date and continue to provide to the
         Executive the following benefits:

                      (i) A lump sum payment in an amount equal to three times
                  the sum of (A) Base Pay (at the highest rate in effect for any
                  period prior to the Termination Date), plus (B) Incentive Pay
                  (determined in accordance with the standards set forth in
                  Section 1(i)).

                      (ii)(A) For a period of 36 months following the
                  Termination Date (the "Continuation Period"), the Company will
                  arrange to provide the Executive with Employee Benefits that
                  are welfare benefits (but not stock option, stock purchase,
                  stock appreciation or similar compensatory benefits)
                  substantially similar to those that the Executive was
                  receiving or entitled to receive immediately prior to the
                  Termination Date (or, if greater, immediately prior to the
                  reduction, termination, or denial described in Section
                  3(b)(ii)), except that the level of any such Employee Benefits
                  to be provided to the Executive may be reduced in the event of
                  a corresponding reduction generally applicable to all
                  recipients of or participants in such Employee Benefits, and
                  (B) such Continuation Period will be considered service with
                  the Company for the purpose of determining service credits and
                  benefits due and payable to the Executive under the Company's
                  retirement income, supplemental executive retirement and other
                  benefit plans of the Company applicable to the Executive, his
                  dependents or his beneficiaries immediately prior to the
                  Termination Date. In addition, the Company shall provide the
                  Executive, at the Executive's election, with either
                  outplacement services by a firm selected by the Executive, at
                  the expense of the Company in an amount up to 20% of the
                  Executive's Base Pay, or reimbursement of reasonable
                  outplacement expenses actually incurred by the Executive, in
                  an amount up to 15% of the Executive's Base Pay. If and to the
                  extent that any benefit described in Subparagraph (A) or (B)
                  of this Paragraph



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                  is not or cannot be paid or provided under any policy, plan,
                  program or arrangement of the Company or any Subsidiary, as
                  the case may be, then the Corporation will itself pay or 
                  provide for the payment to the Executive, his dependents and
                  beneficiaries, of such Employee Benefits. Without otherwise
                  limiting the purposes or effect of Section 5, Employee
                  Benefits otherwise receivable by the Executive pursuant to
                  Subparagraph (A) of this Paragraph will be reduced to the
                  extent comparable welfare benefits are actually received by
                  the Executive from another employer during the Continuation
                  Period following the Executive's Termination Date, and any
                  such benefits actually received by the Executive shall be
                  reported by the Executive to the Corporation. If the continued
                  health coverage under Subparagraph (A) of this Paragraph is
                  provided through participation in the Company's group health
                  plan, then following such period of continued health care
                  coverage, the Executive will be eligible to elect to
                  continue, for himself and his eligible dependents, health
                  benefits in accordance with the provisions of the
                  Consolidated Omnibus Budget Reconciliation Act of 1985, as
                  amended.
        
                  (b) Upon the occurrence of any of the events described in the
         third paragraph of Section 8 of the Company's Stock Option Plan, each
         stock option granted to the Executive under such Plan then outstanding
         but not exercisable shall immediately become and be exercisable in full
         in accordance with the terms of such Plan and the applicable option
         agreement between the Corporation and the Executive.

                  (c) Without limiting the rights of the Executive at law or in
         equity, if the Company fails to make any payment or provide any benefit
         required to be made or provided hereunder on a timely basis, the
         Company will pay interest on the amount or value thereof at an
         annualized rate of interest equal to the "prime rate" as quoted from
         time to time during the relevant period in the Northeast Edition of THE
         WALL STREET JOURNAL. Such interest will be payable as it accrues on
         demand. Any change in such prime rate will be effective on and as of
         the date of such change.

                  (d) Notwithstanding any provision of this Agreement to the
         contrary, the parties' respective rights and obligations under this
         Section and under Sections 6 and 8 will survive any termination or
         expiration of this Agreement or the termination of the Executive's
         employment following a Change in Control for any reason whatsoever.

                  5. QUALIFIED PLAN BENEFITS. Upon the occurrence of a Change in
Control, the Executive's account in the Belden & Blake Corporation 401(k) Profit
Sharing Plan shall be come 100% vested and nonforfeitable.



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                  6. CERTAIN ADDITIONAL PAYMENTS BY THE COMPANY. (a) Anything in
         this Agreement to the contrary notwithstanding, in the event that this
         Agreement shall become operative and it shall be determined (as
         hereafter provided) that any payment or distribution by the Company or
         any of its affiliates to or for the benefit of the Executive, whether
         paid or payable or distributed or distributable pursuant to the terms
         of this Agreement or otherwise pursuant to or by reason of any other
         agreement, policy, plan, program or arrangement, including without
         limitation any stock option, stock appreciation right or similar right,
         or the lapse or termination of any restriction on or the vesting or
         exercisability of any of the foregoing (a "Payment"), would be subject
         to the excise tax imposed by Section 4999 of the Internal Revenue Code
         of 1986, as amended (the "Code") (or any successor provision thereto)
         by reason of being considered "contingent on a change in ownership or
         control" of the Corporation, within the meaning of Section 280G of the 
         Code (or any successor provision thereto) or to any similar tax
         imposed by state or local law, or any interest or penalties with
         respect to such tax (such tax or taxes, together with any such
         interest and penalties, being hereafter collectively referred to as
         the "Excise Tax"), then the Executive shall be entitled to receive an
         additional payment or payments (collectively, a "Gross-Up Payment");
         PROVIDED, HOWEVER, that no Gross-up Payment shall be made with respect
         to the Excise Tax, if any, attributable to (i) any incentive stock
         option, as defined by Section 422 of the Code ("ISO") granted prior to
         the execution of this Agreement, or (ii) any stock appreciation or
         similar right, whether or not limited, granted in tandem with any ISO
         described in clause (i). The Gross-Up Payment shall be in an amount
         such that, after payment by the Executive of all taxes (including any
         interest or penalties imposed with respect to such taxes), including
         any Excise Tax imposed upon the Gross-Up Payment, the Executive
         retains an amount of the Gross-Up Payment equal to the Excise Tax
         imposed upon the Payment.
        
                  (b) Subject to the provisions of Subsection (f) of this
         Section, all determinations required to be made under this Section,
         including whether an Excise Tax is payable by the Executive and the
         amount of such Excise Tax and whether a Gross-Up Payment is required to
         be paid by the Company to the Executive and the amount of such Gross-Up
         Payment, if any, shall be made by a nationally recognized accounting
         firm (the "Accounting Firm") selected by the Executive in his sole
         discretion. The Executive shall direct the Accounting Firm to submit
         its determination and detailed supporting calculations to both the
         Company and the Executive within 30 calendar days after the Termination
         Date, if applicable, and any such other time or times as may be
         requested by the Company or the Executive. If the Accounting Firm
         determines that any Excise Tax is payable by



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         the Executive, the Company shall pay the required Gross-Up Payment to
         the Executive within five business days after receipt of such
         determination and calculations with respect to any Payment to the
         Executive. If the Accounting Firm determines that no Excise Tax is
         payable by the Executive, it shall, at the same time as it makes such
         determination, furnish the Company and the Executive an opinion that
         the Executive has substantial authority not to report any Excise Tax on
         his federal, state or local income or other tax return. As a result of
         the uncertainty in the application of Section 4999 of the Code (or any
         successor provision thereto) and the possibility of similar uncertainty
         regarding applicable state or local tax law at the time of any
         determination by the Accounting Firm hereunder, it is possible that
         Gross-Up Payments which will not have been made by the Company should
         have been made (an "Underpayment"), consistent with the calculations
         required to be made hereunder. In the event that the Company exhausts
         or fails to pursue its remedies pursuant to Subsection (f) of this
         Section and the Executive thereafter is required to make a payment of
         any Excise Tax, the Executive shall direct the Accounting Firm to
         determine the amount of the Underpayment that has occurred and to
         submit its determination and detailed supporting calculations to both
         the Company and the Executive as promptly as possible. Any such
         Underpayment shall be promptly paid by the Company to, or for the
         benefit of, the Executive within five business days after receipt of
         such determination and calculations.

                  (c) The Company and the Executive shall each provide the
         Accounting Firm access to and copies of any books, records and
         documents in the possession of the Company or the Executive, as the
         case may be, reasonably requested by the Accounting Firm, and otherwise
         cooperate with the Accounting Firm in connection with the preparation
         and issuance of the determinations and calculations contemplated by
         Subsection (b) of this Section. Any determination by the Accounting
         Firm as to the amount of the Gross-Up Payment shall be binding upon the
         Company and the Executive.

                  (d) The federal, state and local income or other tax returns
         filed by the Executive shall be prepared and filed on a consistent
         basis with the determination of the Accounting Firm with respect to the
         Excise Tax payable by the Executive. The Executive shall make proper
         payment of the amount of any Excise Payment, and at the request of the
         Company, provide to the Company true and correct copies (with any
         amendments) of his federal income tax return as filed with the Internal
         Revenue Service and corresponding state and local tax returns, if
         relevant, as filed with the applicable taxing authority, and such other
         documents reasonably requested by the Company, evidencing such payment.
         If prior to the filing of the Executive's federal



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         income tax return, or corresponding state or local tax return, if
         relevant, the Accounting Firm determines that the amount of the
         Gross-Up Payment should be reduced, the Executive shall within five
         business days pay to the Company the amount of such reduction.

                  (e) The fees and expenses of the Accounting Firm for its
         services in connection with the determinations and calculations
         contemplated by Subsection (b) of this Section shall be borne by the
         Company. If such fees and expenses are initially paid by the Executive,
         the Company shall reimburse the Executive the full amount of such fees
         and expenses within five business days after receipt from the Executive
         of a statement therefor and reasonable evidence of his payment thereof.

                  (f) The Executive shall notify the Company in writing of any
         claim by the Internal Revenue Service or any other taxing authority
         that, if successful, would require the payment by the Company of a
         Gross-Up Payment. Such notification shall be given as promptly as
         practicable but no later than 10 business days after the Executive
         actually receives notice of such claim and the Executive shall further
         apprise the Company of the nature of such claim and the date on which
         such claim is requested to be paid (in each case, to the extent known
         by the Executive). The Executive shall not pay such claim prior to the
         earlier of (i) the expiration of the 30-calendar-day period following
         the date on which he gives such notice to the Company and (ii) the date
         that any payment of amount with respect to such claim is due. If the
         Company notifies the Executive in writing prior to the expiration of
         such period that it desires to contest such claim, the Executive shall:

                       (i) provide the Company with any written records or
                  documents in his possession relating to such claim reasonably
                  requested by the Company;

                      (ii) take such action in connection with contesting such
                  claim as the Company shall reasonably request in writing from
                  time to time, including without limitation accepting legal
                  representation with respect to such claim by an attorney
                  competent in respect of the subject matter and reasonably
                  selected by the Company;

                     (iii) cooperate with the Company in good faith in order
                  effectively to contest such claim; and

                      (iv) permit the Company to participate in any proceedings
                  relating to such claim;





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         PROVIDED, HOWEVER, that the Company shall bear and pay directly all
         costs and expenses (including interest and penalties) incurred in
         connection with such contest and shall indemnify and hold harmless the
         Executive, on an after-tax basis, for and against any Excise Tax or
         income tax, including interest and penalties with respect thereto,
         imposed as a result of such representation and payment of costs and
         expenses. Without limiting the foregoing provisions of this Subsection,
         the Company shall control all proceedings taken in connection with the
         contest of any claim contemplated by this Subsection and, at its sole
         option, may pursue or forego any and all administrative appeals,
         proceedings, hearings and conferences with the taxing authority in
         respect of such claim (provided, however, that the Executive may
         participate therein at his own cost and expense) and may, at its
         option, either direct the Executive to pay the tax claimed and sue for
         a refund or contest the claim in any permissible manner, and the
         Executive agrees to prosecute such contest to a determination before
         any administrative tribunal, in a court of initial jurisdiction and in
         one or more appellate courts, as the Company shall determine; PROVIDED,
         HOWEVER, that if the Company directs the Executive to pay the tax
         claimed and sue for a refund, the Company shall advance the amount of
         such payment to the Executive on an interest-free basis and shall
         indemnify and hold the Executive harmless, on an after-tax basis, from
         any Excise Tax or income or other tax, including interest or penalties
         with respect thereto, imposed with respect to such advance; and
         PROVIDED FURTHER, HOWEVER, that any extension of the statute of
         limitations relating to payment of taxes for the taxable year of the
         Executive with respect to which the contested amount is claimed to be
         due is limited solely to such contested amount. Furthermore, the
         Company's control of any such contested claim shall be limited to
         issues with respect to which a Gross-Up Payment would be payable
         hereunder and the Executive shall be entitled to settle or contest, as
         the case may be, any other issue raised by the Internal Revenue Service
         or any other taxing authority.

                  (g) If, after the receipt by the Executive of an amount
         advanced by the Company pursuant to Subsection (f) of this Section, the
         Executive receives any refund with respect to such claim, the Executive
         shall (subject to the Company's complying with the requirements of
         Subsection (f) of this Section) promptly pay to the Company the amount
         of such refund (together with any interest paid or credited thereon
         after any taxes applicable thereto). If, after the receipt by the
         Executive of an amount advanced by the Company pursuant to Subsection
         (f) of this Section, a determination is made that the Executive shall
         not be entitled to any refund with respect to such claim and the
         Company does not notify the Executive in writing of its intent to
         contest such denial or refund prior to the expiration of 30 calendar



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<PAGE>   14



         days after such determination, then such advance shall be forgiven and
         shall not be required to be repaid and the amount of any such advance
         shall offset, to the extent thereof, the amount of Gross-Up Payment
         required to be paid by the Company to the Executive pursuant to this
         Section.

                  7. NO MITIGATION OBLIGATION. The Company hereby acknowledges
that it will be difficult and may be impossible for the Executive to find
reasonably comparable employment following the Termination Date and that the
non-competition covenant contained in Section 9 will further limit the
employment opportunities for the Executive. In addition, the Company
acknowledges that its severance pay plans applicable in general to its salaried
employees do not provide for mitigation, offset or reduction of any severance
payment received thereunder. Accordingly, the payment of the severance
compensation by the Company to the Executive in accordance with the terms of
this Agreement is hereby acknowledged by the Company to be reasonable, and the
Executive will not be required to mitigate the amount of any payment provided
for in this Agreement by seeking other employment or otherwise, nor will any
profits, income, earnings or other benefits from any source whatsoever create
any mitigation, offset, reduction or any other obligation on the part of the
Executive hereunder or otherwise, except as expressly provided in the last
sentence of Section 4(a)(ii).

                  8. LEGAL FEES AND EXPENSES. (a) It is the intent of the
         Company that the Executive not be required to incur legal fees and the
         related expenses associated with the interpretation, enforcement or
         defense of Executive's rights under this Agreement by litigation or
         otherwise because the cost and expense thereof would substantially
         detract from the benefits intended to be extended to the Executive
         hereunder. Accordingly, if it should appear to the Executive that the
         Company has failed to comply with any of its obligations under this
         Agreement or in the event that the Company or any other person takes or
         threatens to take any action to declare this Agreement void or
         unenforceable, or institutes any litigation or other action or
         proceeding designed to deny, or to recover from, the Executive the
         benefits provided or intended to be provided to the Executive
         hereunder, the Company irrevocably authorizes the Executive from time
         to time to retain counsel of Executive's choice, at the expense of the
         Company as hereafter provided, to advise and represent the Executive in
         connection with any such interpretation, enforcement or defense,
         including without limitation the initiation or defense of any
         litigation or other legal action, whether by or against the Company or
         any Director, officer, stockholder or other person affiliated with the
         Company, in any jurisdiction. Notwithstanding any existing or prior
         attorney-client relationship between the Company and such counsel, the
         Company irrevocably consents to the Executive's entering into an
         attorney-client relationship with such counsel, and



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<PAGE>   15



         in that connection the Company and the Executive agree that a
         confidential relationship shall exist between the Executive and such
         counsel. Without respect to whether the Executive prevails, in whole or
         in part, in connection with any of the foregoing, the Company will pay
         and be solely financially responsible for any and all attorneys' and
         related fees and expenses incurred by the Executive in connection with
         any of the foregoing.

                  (b) Without limiting the obligations of the Company pursuant
         to Subsection (a) of this Section, in the event a Change in Control
         occurs, the performance of the Company's obligations under this Section
         shall be secured by amounts deposited or to be deposited in trust
         pursuant to certain trust agreements to which the Corporation shall be 
         a party, which amounts deposited shall in the aggregate be not less 
         than $250,000, providing that the fees and expenses of counsel 
         selected from time to time by the Executive pursuant to Subsection (a)
         of this Section shall be paid, or reimbursed to the Executive if paid
         by the Executive, either in accordance with the terms of such trust
         agreements, or, if not so provided, on a regular, periodic basis upon
         presentation by the Executive to the trustee of a statement or
         statements prepared by such counsel in accordance with its customary
         practices. Any failure by the Company to satisfy any of its
         obligations under this Subsection shall not limit the rights of the
         Executive hereunder. Subject to the foregoing, the Executive shall
         have the status of a general unsecured creditor of the Company and
         shall have no right to, or security interest in, any assets of the
         Company or any Subsidiary.
        
                  9. COMPETITIVE ACTIVITY; CONFIDENTIAL INFORMATION. (a) During
         a period ending one year following the Termination Date, if the
         Executive shall have received or shall be receiving benefits under
         Section 4, and, if applicable, Section 6, the Executive shall not,
         without the prior written consent of the Company, which consent shall
         not be unreasonably withheld, engage in any Competitive Activity.

                           (b)(i) The Executive acknowledges and agrees that in
                  the performance of his duties as an officer and employee of
                  the Company, he was and may be brought into frequent contact
                  with, had or may have had access to, and/or became or may
                  become informed of confidential and proprietary information of
                  the Company and/or information which is a trade secret of the
                  Company (collectively, "Confidential Information"), as more
                  fully described in Paragraph (ii) of this Subsection. The
                  Executive acknowledges and agrees that the Confidential
                  Information of the Company gained by the Executive during his
                  association with the Company was or will be developed by
                  and/or for the Company through



                                       15

<PAGE>   16



                  substantial expenditure of time, effort and money and
                  constitutes valuable and unique property of the Company.

                      (ii) The Executive will keep in strict confidence, and
                  will not, directly or indirectly, at any time, disclose,
                  furnish, disseminate, make available, use or suffer to be used
                  in any manner any Confidential Information of the Company
                  without limitation as to when or how the Executive may have
                  acquired such Confidential Information. The Executive
                  specifically acknowledges that Confidential Information
                  includes any and all information, whether reduced to writing
                  (or in a form from which information can be obtained,
                  translated, or derived into reasonably usable form), or
                  maintained in the mind or memory of the Executive and whether
                  compiled or created by the Company, which derives independent
                  economic value from not being readily known to or
                  ascertainable by proper means by others who can obtain
                  economic value from the disclosure or use of such information,
                  that reasonable efforts have been put forth by the Company to
                  maintain the secrecy of Confidential Information, that such
                  Confidential Information is and will remain the sole property
                  of the Company, and that any retention or use by the Executive
                  of Confidential Information after the termination of the
                  Executive's employment with and services for the Company shall
                  constitute a misappropriation of the Company's Confidential
                  Information.

                     (iii) The Executive further agrees that he shall return,
                  within ten (10) days of the effective date of his termination
                  as an employee of the Company, in good condition, all property
                  of the Company then in his possession, including, without
                  limitation, (A) property, documents and/or all other materials
                  (including copies, reproductions, summaries and/or analyses)
                  which constitute, refer or relate to Confidential Information
                  of the Company, (B) keys to Company property, (C) files and
                  (D) blueprints or other drawings.

                      (iv) The Executive further acknowledges and agrees that
                  his obligation of confidentiality shall survive, regardless of
                  any other breach of this Agreement or any other agreement, by
                  any party hereto, until and unless such Confidential
                  Information of the Company shall have become, through no fault
                  of the Executive, generally known to the public or the
                  Executive is required by law (after providing the Company with
                  notice and opportunity to contest such requirement) to make
                  disclosure. The Executive's obligations under this Subsection
                  are in addition to, and not in limitation or



                                       16

<PAGE>   17



                  preemption of, all other obligations of confidentiality which
                  the Executive may have to the Company under general legal or
                  equitable principles or statutes.

                  10. EMPLOYMENT RIGHTS. Nothing expressed or implied in this
Agreement will create any right or duty on the part of the Company or the
Executive to have the Executive remain in the employment of the Company or any
Subsidiary prior to or following any Change in Control. Any termination of
employment of the Executive or the removal of the Executive from the office or
position in the Company or any Subsidiary prior to a Change in Control but
following the commencement of any discussion with any third person that
ultimately results in a Change in Control shall be deemed to be a termination or
removal of the Executive after a Change in Control for purposes of this
Agreement.

                  11. WITHHOLDING OF TAXES. The Company may withhold from any
amounts payable under this Agreement all federal, state, city or other taxes as
the Company is required to withhold pursuant to any law or government regulation
or ruling.

                  12. SUCCESSORS AND BINDING AGREEMENT. (a) The Company will
         require any successor (whether direct or indirect, by purchase, merger,
         consolidation, reorganization or otherwise) to all or substantially all
         of the business or assets of the Company, by agreement in form and
         substance satisfactory to the Executive, expressly to assume and agree
         to perform this Agreement in the same manner and to the same extent the
         Company would be required to perform if no such succession had taken
         place. This Agreement will be binding upon and inure to the benefit of
         the Company and any successor to the Company, including without
         limitation any persons acquiring directly or indirectly all or
         substantially all of the business or assets of the Company whether by
         purchase, merger, consolidation, reorganization or otherwise (and such
         successor shall thereafter be deemed the "Company" for the purposes of
         this Agreement), but will not otherwise be assignable, transferable or
         delegable by the Company.

                  (b) This Agreement will inure to the benefit of and be
         enforceable by the Executive's personal or legal representatives,
         executors, administrators, successors, heirs, distributees and
         legatees.

                  (c) This Agreement is personal in nature and neither of the
         parties hereto shall, without the consent of the other, assign,
         transfer or delegate this Agreement or any rights or obligations
         hereunder except as expressly provided in Subsections (a) and (b) of
         this Section. Without limiting the generality or effect of the
         foregoing, the Executive's right to receive payments hereunder will not
         be assignable, transferable or delegable, whether by pledge, creation
         of a security interest, or otherwise, other than by



                                       17

<PAGE>   18



         a transfer by Executive's will or by the laws of descent and
         distribution and, in the event of any attempted assignment or transfer
         contrary to this Subsection, the Company shall have no liability to pay
         any amount so attempted to be assigned, transferred or delegated.

                  13. NOTICES. For all purposes of this Agreement, all
communications, including without limitation notices, consents, requests or
approvals, required or permitted to be given hereunder will be in writing and
will be deemed to have been duly given when hand delivered or dispatched by
electronic facsimile transmission (with receipt thereof orally confirmed), or
five business days after having been mailed by United States registered or
certified mail, return receipt requested, postage prepaid, or three business
days after having been sent by a nationally recognized overnight courier service
such as Federal Express or UPS, addressed to the Corporation (to the attention 
of the Secretary of the Corporation) at its principal executive office and to
the Executive at his principal residence, or to such other address as any party
may have furnished to the other in writing and in accordance herewith, except
that notices of changes of address shall be effective only upon receipt.
        
                  14. GOVERNING LAW. The validity, interpretation, construction
and performance of this Agreement will be governed by and construed in
accordance with the substantive laws of the State of Ohio, without giving effect
to the principles of conflict of laws of such State.

                  15. VALIDITY. If any provision of this Agreement or the
application of any provision hereof to any person or circumstances is held
invalid, unenforceable or otherwise illegal, the remainder of this Agreement and
the application of such provision to any other person or circumstances will not
be affected, and the provision so held to be invalid, unenforceable or otherwise
illegal will be reformed to the extent (and only to the extent) necessary to
make it enforceable, valid or legal.

                  16. MISCELLANEOUS. No provision of this Agreement may be
modified, waived or discharged unless such waiver, modification or discharge is
agreed to in writing signed by the Executive and the Corporation. No waiver by
either party hereto at any time of any breach by the other party hereto or
compliance with any condition or provision of this Agreement to be performed by
such other party will be deemed a waiver of similar or dissimilar provisions or
conditions at the same or at any prior or subsequent time. This Agreement
supersedes and completely replaces any prior severance or employment agreement
previously applicable to the Executive. No agreements or representations, oral
or otherwise, expressed or implied with respect to the subject matter hereof
have been made by either party which are not set forth expressly in this
Agreement. References to Sections are to references to Sections of this
Agreement.




                                       18

<PAGE>   19


                  17. COUNTERPARTS. This Agreement may be executed in one or
more counterparts, each of which shall be deemed to be an original but all of
which together will constitute one and the same agreement.

                  IN WITNESS WHEREOF, the parties have caused this Agreement to
be duly executed and delivered as of the date first above written.

                                                 BELDEN & BLAKE CORPORATION



                                                 By: ________________________

                                                 Title:______________________




                                                 ____________________________
                                                         [Executive]




                                       19