Exhibit 10
                                                               ----------

                       KEY MANAGEMENT SEVERANCE AGREEMENT


         This Severance Agreement (the "Agreement") is made as of September 1,
2000 by and between OWENS CORNING, a Delaware corporation (the "Company"), and
David L. Johns, an officer of the Company ("Executive").

         WHEREAS the Company and Executive have previously entered into a
Severance Agreement dated as of November 24, 1998 (the "Prior Agreement")
providing for certain benefits to be conferred upon Executive under specified
circumstances in the event that Executive's employment is terminated by the
Company on the terms and conditions set forth therein, and:


         WHEREAS the Compensation Committee of the Board of Directors of the
Company (the "Committee") has approved a new severance agreement to provide
Executive with certain additional protections and to conform the terms of such
agreement to the current policy of the Company regarding an officer's
entitlement to pay, benefits and privileges on the termination of his
employment;

         NOW THEREFORE, the parties hereto agree as follows:

1.       Termination Absent a Change of Control.
         --------------------------------------

a)   If, prior to a Change of Control (as defined in paragraph 7(c) below), (i)
     the Company terminates Executive's employment for any reason other than
     Permanent Total Disability or Cause (as defined in paragraphs 7(e) and
     7(b)(1)&(2), respectively, below), or (ii) Executive voluntarily terminates
     his employment under circumstances involving a Constructive Termination (as
     defined in paragraph 7(d), below), Executive will be entitled to the
     following compensation, provided that Executive executes a Release and
     Non-Competition Agreement satisfactory to the Company:

1)       Base salary earned and as yet unpaid through the effective date of
         termination; and

2)       Two years' Base Pay (as defined in paragraph 7(a) below); and

3)       Two times Executive's Separation Incentive Payment (as defined in
         paragraph 7(f) below); and

4)       Incentive Pay as yet unpaid from the prior fiscal year and
         Incentive Pay for the fiscal year of termination, prorated for the
         period of Executive's actual employment prior to termination; and

5)       Executive's vested Cash Balance Pension Benefit plus an amount
         equal to the present value of the additional vested pension
         benefits payable to Executive in accordance with the Company's
         Supplemental Executive Retirement Plan (the "SERP"), as approved
         by the Compensation Committee of the Board of Directors on
         December 11, 1997 and referenced in the March 24,1999 letter from
         Glen Hiner, a copy of which is appended to this Agreeement.
         Executive's regular, vested pension earnings will not be increased
         by compensation paid under the SERP.

b)   If, prior to a Change of Control, the Company terminates Executive's
     employment for Cause (as defined in paragraph 7(b)(3), below), Executive
     will only be entitled to base salary earned and as yet unpaid through the
     effective date of termination and Executive's vested Cash Balance Pension
     Benefit or vested Final Average Plan Pension Benefit, whichever is greater,
     UNLESS, (i) the Company exercises its discretion to award Executive (in
     addition to the aforementioned base salary and vested pension amounts) some
     portion of the following compensation, based on effort expended and results
     obtained to date and (ii) Executive executes a Release and Non-Competition
     Agreement satisfactory to the Company:
<PAGE>

1)       Up to but no more than Twelve months' Base Pay (as defined in
         paragraph 7(a) below); and

2)       Up to but no more than one times  Executive's  Separation  Incentive
         Payment (as defined in paragraph 7(f) below); and

3)       Up to but no more than the amount of Incentive Pay as yet unpaid from
         the prior fiscal year.

c)   The compensation payable under paragraph 1(a) or 1(b), above, shall be paid
     as soon as practicable after Executive signs, returns and does not revoke
     the requisite Release and Non-Competition Agreement.

d)   In the event of a termination of Executive's  employment  under the
     circumstances  described in paragraph 1(a) above:

1)            All stock options previously awarded to Executive shall, to the
              extent not already vested, immediately vest, and shall be
              exercisable (subject to applicable blackout restrictions) for up
              to six months following the date of termination or the original
              expiration date, whichever is sooner.

2)            All shares of restricted stock previously awarded to Executive
              shall, to the extent not already vested, immediately vest and be
              payable.

3)            All outstanding but unearned performance shares shall be
              forfeited.

4)            All of Executive's non-qualified deferred compensation or
              retirement benefits, if any, accrued through the date of
              termination under any non-qualified deferred compensation plan or
              arrangement shall immediately vest and be payable, to the extent
              permissible under the terms of such plan or arrangement.

e)   In the event of a termination of Executive's  employment  under the
     circumstances  described in paragraph 1(b) above:

1)            All stock options previously awarded to Executive which are
              exercisable on the date of termination shall be exercisable
              (subject to applicable blackout restrictions) for up to six months
              following the date of termination or the original expiration date,
              whichever is sooner.

2)            All unvested shares of restricted stock and all outstanding but
              unearned performance shares previously awarded to Executive shall
              be forfeited.

3)            All of Executive's non-qualified deferred compensation or
              retirement benefits, if any, accrued and vested through the date
              of termination under any non-qualified deferred compensation plan
              or arrangement shall be payable, to the extent permissible under
              the terms of such plan or arrangement.

f)   If Executive's  employment ends under  circumstances  described in
     paragraph  1(a)  above as a result  of the  sale by the  Company  of a
     business  unit,  division  or  facility,  payments  will be made under this
     paragraph 1 only if  Executive  is not offered a  substantially  equivalent
     position  with the Company or with the new owner of the  business  (without
     regard to whether Executive accepts such a position). If Executive receives
     and  accepts a  suitable  offer from the new owner of the  business  and is
     subsequently  terminated  within one year of the  closing  date of the sale
     under  circumstances  that would  result in payment of benefits  under this
     paragraph 1(a),  Executive will be treated as though he had been terminated
     by the Company and receive the  payments  provided  for in this  Agreement,
     less any amounts or benefits  provided by the new owner in connection  with
     Executive's termination.
<PAGE>

2.   Termination On or After a Change of Control.
     -------------------------------------------

a)   If, within a two-year period after a Change of Control, (i) the Company (or
     any successor) terminates Executive's employment for any reason other than
     Permanent Total Disability or Cause (as defined in paragraphs 7(e) and
     7(b)(1)&(2), respectively, below), or (ii) Executive voluntarily terminates
     his employment under circumstances involving a Constructive Termination,
     Executive will be entitled to the following compensation, provided that
     Executive executes a Release and Non-Competition Agreement satisfactory to
     the Company:

1)   Base salary earned and as yet unpaid through the effective date of
     termination; and

2)   Two years' Base Pay; and

3)   Two times Executive's Separation Incentive Payment; and

4)   Incentive Pay as yet unpaid from the prior fiscal year and Target
     Level Incentive Pay (as defined in paragraph 7(h) below) for the
     fiscal year of termination, prorated for the period of Executive's
     actual employment prior to termination; and

5)   Executive's vested Cash Balance Pension benefit plus an amount
     equal to the present value of the additional  vested pension  benefits
     payable  to  Executive  in  accordance  with  the  Company's   Supplemental
     Executive  Retirement  Plan (the "SERP"),  as approved by the  Compensation
     Committee of the Board of Directors on December 11, 1997 and  referenced in
     the March 24, 1999  letter from Glen Hiner,  a copy of which is appended to
     this Agreement.  Executive's  regular,  vested pension earnings will not be
     increased by compensation paid under the SERP.

b)   If, within a two-year period after a Change of Control, the Company (or any
     successor) terminates Executive's employment for Cause (as defined in
     paragraph 7(b)(3), below), Executive will only be entitled to base salary
     earned and as yet unpaid through the effective date of termination and
     Executive's vested Cash Balance Pension Benefit or vested Final Average
     Plan Pension Benefit, whichever is greater, UNLESS, (i) the Company
     exercises its discretion to award Executive (in addition to the
     aforementioned base salary and vested pension amounts) some portion of the
     following compensation, based on effort expended and results obtained to
     date and (ii) Executive executes a Release and Non-Competition Agreement
     satisfactory to the Company:

1)       Up to but no more than Twelve months' Base Pay (as defined in
         paragraph 7(a) below); and

2)       Up to but no more than one times  Executive's  Separation  Incentive
         Payment (as defined in paragraph 7(f) below); and

3)       Up to but no more than the amount of Incentive Pay as yet unpaid from
         the prior fiscal year.

c)   The compensation payable under paragraphs 2(a) or 2(b), above, will be paid
     as soon as practicable after Executive signs, returns and does not revoke
     the requisite Release and Non-Competition Agreement.

d)   In the event of a termination of Executive's  employment  under the
     circumstances  described in paragraph 2(a) above:
<PAGE>

1)            All stock options previously awarded to Executive shall, to the
              extent not already vested, immediately vest, and shall be
              exercisable (subject to applicable blackout restrictions) for up
              to six months following the date of termination or the original
              expiration date, whichever is sooner.

2)            All shares of restricted stock previously awarded to Executive
              shall, to the extent not already vested, immediately vest and be
              payable.

3)            All outstanding but unearned performance shares shall be
              forfeited.

4)            All of Executive's non-qualified deferred compensation or
              retirement benefits, if any, accrued through the date of
              termination under any non-qualified deferred compensation plan or
              arrangement shall immediately vest and be payable, to the extent
              permissible under the terms of such plan or arrangement.

e)       In the event of a termination of Executive's  employment  under the
         circumstances  described in paragraph 2(b) above:

1)            All stock options previously awarded to Executive which are
              exercisable on the date of termination shall be exercisable
              (subject to applicable blackout restrictions) for up to six months
              following the date of termination or the original expiration date,
              whichever is sooner.

2)            All unvested shares of restricted stock and all outstanding but
              unearned performance shares previously awarded to Executive shall
              be forfeited.

3)            All of Executive's non-qualified deferred compensation or
              retirement benefits, if any, accrued and vested through the date
              of termination under any non-qualified deferred compensation plan
              or arrangement shall be payable, to the extent permissible under
              the terms of such plan or arrangement.

f)   The Compensation Committee of the Board of Directors, in its sole
     discretion, may determine that no Change of Control or Potential Change of
     Control shall be deemed to have occurred with respect to any Executive who,
     in connection with a Change of Control or Potential Change of Control, acts
     in a capacity other than in their capacity as an employee of the
     Corporation, its subsidiaries or affiliates or otherwise fails to act in
     the Company's best interests with respect to said Change of Control.

3.   Termination For Other Reasons. If Executive voluntarily terminates his
     employment (including by reason of retirement) other than as provided in
     paragraph 1(a) or 2(a) above, or if Executive's employment is terminated
     due to death or Permanent Total Disability, Executive shall not be entitled
     to any benefits under this Agreement, but shall be entitled to any other
     benefits to which he is otherwise entitled under the terms of any employee
     benefit plans or arrangements of the Company.

4.   Continuation  of  Insurance  Benefits.   In  the  event  Executive's
     employment  terminates under the circumstances  described in paragraph
     1(a) or 2(a) of this  Agreement,  the  Company  will  continue  Executive's
     participation  and  coverage  for a period  of two  years  (the  "Severance
     Period") from Executive's last day of employment with the Company under all
     the Company's life,  medical and dental plans  ("Insurance  Benefits"),  in
     which  Executive  is  participating  immediately  prior to such  employment
     termination,  subject  to the  Company's  right to modify  the terms of the
     plans or arrangements providing these benefits. If Executive is employed by
     another entity during the Severance Period, the Company will be a secondary
     obligor only with respect to medical and dental Insurance Benefits and life
     insurance coverage shall immediately cease.
<PAGE>

5.   Non-Duplication of Benefits. Any compensation or benefits payable under the
     terms of this Agreement will be offset and not augmented by other
     compensation or benefits of the same or similar type payable under any
     existing plan or agreement of the Company or any other arrangement between
     Executive and the Company covering the Executive (including, but not
     limited to, any Company severance policy and the Company's Annual Incentive
     Plan). It is intended that this Agreement NOT duplicate benefits Executive
     is entitled to under the Company's regular severance policy, any related
     policies, or any other contracts, agreements or arrangements between
     Executive and the Company.

6.   Term. This Agreement  shall be effective from the date hereof  throughout
     Executive's  term of employment as an officer of the Company,  but shall
     expire and be of no effect  immediately after the second  anniversary
     of a Change of Control.

7.  Certain Defined Terms.  As used herein, the following terms shall have the
    following meanings:

a)   "Base Pay" shall mean the greater of the annual salary paid to Executive as
     of the date of termination of his employment or the date of the Change of
     Control, as the case may be, notwithstanding any pay reduction that may be
     related to a Constructive Termination.

b)       "Cause" shall mean:

1)       conviction of any felony or failure to contest prosecution for a
         felony; or

2)       willful  misconduct or dishonesty  which is directly and materially
         harmful to the business or reputation of the Company; or

3)            willful or continued failure to substantially perform his duties
              as an executive of the Company, other than as a result of total or
              partial incapacity due to physical or mental illness (abuse of
              alcohol, drugs or controlled substances not being considered a
              physical or mental illness for purposes of this paragraph), unless
              within three to six months after written notice has been provided
              to Executive by the Company, Executive cures such willful or
              continued failure to perform.

c)       "Change of Control" shall mean:

1)             the holders of the voting  securities  of the Company  shall have
               approved a merger or  consolidation of the Company with any other
               entity,  unless the proposed merger or consolidation would result
               in the voting securities of the Company  outstanding  immediately
               prior  thereto  continuing  to  represent  (either  by  remaining
               outstanding or by being  converted into voting  securities of the
               surviving  entity)  more  than  50% of  the  total  voting  power
               represented  by the  voting  securities  of the  Company  or such
               surviving  entity  outstanding  immediately  after such merger or
               consolidation,  where such merger or  consolidation  is, in fact,
               consummated;

2)            a plan of complete liquidation of the Company shall have been
              adopted or the holders of voting securities of the Company shall
              have approved an agreement for the sale or disposition by the
              Company (in one transaction or a series of transactions) of all or
              substantially all of the Company's assets;

3)            any "person" (as such term is used in Sections 13(d) and 14(d) of
              the Securities Exchange Act of 1934 (the "1934 Act") shall become
              the "beneficial owner" (as defined in Rule 13d-3 under the 1934
              Act), directly or indirectly, of 15% or more of the combined
              voting power of the Company's then outstanding shares;
<PAGE>

4)            during any period of two consecutive years, members who at the
              beginning of such period constituted the Board shall have ceased
              for any reason to constitute a majority thereof, unless the
              election, or nomination for election by the Company's
              stockholders, of each director shall have been approved by the
              vote of at least two-thirds of the directors then still in office
              and who were directors at the beginning of such period (so long as
              such director was not nominated by a person who has expressed an
              intent to effect a Change of Control or engage in a proxy or other
              control contest); or

5)            the occurrence of any other change of control of a nature that
              would be required to be reported in accordance with Form 8-K
              pursuant to Sections 13 or 15(d) of the 1934 Act or in the
              Company's proxy statement in accordance with Schedule 14A of
              Regulation 14A promulgated under the 1934 Act, or in any successor
              forms or regulations to the same effect.

d)       A "Constructive Termination" shall be deemed to have occurred only if:

1)       prior to a Change of Control:  Executive's Base Pay is reduced without
         his written consent; or

2)   on or within a two-year  period after a Change of Control:  (A) Executive's
     Base Pay or annual incentive pay opportunity is reduced without his written
     consent;  (B)  Executive  is required  by the  Company  without his written
     consent  to  relocate  to a new place of  business  that is more than fifty
     miles from Executive's place of business prior to the Change of Control (or
     the  Company  mandates a  substantial  increase  in the amount of  required
     business travel);  or (C) there is a material adverse change in Executive's
     duties or  responsibilities in comparison to the duties or responsibilities
     which Executive had prior to the Change of Control.

e)   "Permanent Total Disability" shall be deemed to have occurred if, at the
     end of any month Executive then is, and has been, for eighteen (18)
     consecutive calendar months then ending, unable to perform his duties in
     the normal and regular manner due to mental or physical illness or injury.
     Any determination of such inability to perform shall be made by the Company
     in good faith.

f)   "Separation Incentive Payment" shall be the greater of (i) Executive's
     average payments under the Company's normal, annual Corporate Incentive
     Plan (CIP) for the three years immediately preceding the year of
     termination (or annualized for such shorter period as Executive may have
     been employed by the Company), or (ii) one-half of Executive's average
     participating salary under such Plan for the three years immediately
     preceding the year of termination (or annualized for such shorter period as
     Executive may have been employed by the Company).

g)   "Participating Salary" is the product of Executive's total base salary paid
     during any given incentive year, multiplied by Executive's incentive pay
     percentage, at maximum funding.

h)   "Target Level Incentive" shall be the greater of (i) one-half of
     Executive's participating salary under the Company's Annual Incentive Plan
     for the year of termination, or (ii) the payment Executive would have
     received under such Plan for the year of termination based on projected
     corporate performance for such year as determined by the Committee in its
     sole discretion at the time of the Change of Control.

8.   Outplacement  Assistance.  The Company will arrange outplacement assistance
     for  Executive,  to be provided by a mutually  agreed-upon  firm engaged in
     said business.  Such assistance shall continue for up to one year following
     Executive's  termination  or until  such  time as  suitable  employment  is
     attained,   whichever  is  sooner.  Outplacement  costs  incurred  in  this
     connection  will be borne by the  Company,  but will not  include  costs of
     travel to/from the outplacement  firm or in connection with job interviews,
     etc. For up to six months following  Executive's  termination,  the Company
     will also make available  reasonable  office space and  administrative  and
     communication  services for Executive's use in seeking suitable employment.
     In no  event  will  the  Company  pay  Executive  in lieu  of  outplacement
     assistance.
<PAGE>

9.   Confidentiality.   Consistent  with  Executive's   preexisting   legal  and
     contractual  obligations and in exchange for the consideration  provided by
     the Company in this Agreement and for Executive's  continued employment and
     exposure to confidential  information at the Company,  Executive  agrees to
     hold in  strict  confidence  and  not  disclose  to any  other  person  any
     confidential or proprietary information of the Company, including,  without
     limitation,  trade  secrets,  formulas  for  Company  products,  production
     techniques or processes or methods and apparatus for producing any products
     of the Company, or other non-public  information  relating to the business,
     research and development, employees and/or customers of the Company and its
     subsidiaries and affiliates,  except to the extent required by law, or with
     the  written  consent  of  the  Company.  Executive  will,  immediately  on
     termination,   deliver  to  the   Company   all  files   containing   data,
     correspondence,  books,  notes,  and other  written,  graphic  or  computer
     records  under   Executive's   control  relating  to  the  Company  or  its
     subsidiaries  or  affiliates,  regardless  of the  media in which  they are
     embodied or contained.

10.  Agreement Not To Compete. In exchange for the consideration provided by the
     Company in this Agreement as well as Executive's continued employment and
     exposure to confidential information at the Company, Executive agrees not
     to, directly or indirectly, for a period of two years following Executive's
     termination of employment, engage or participate in any business that is
     involved in research or development activities or in the manufacturing of
     any product which competes with any of the Company's products, except with
     the written consent of the Company. On termination, Executive agrees to
     execute a separate Release and Non-Competition Agreement in a form
     acceptable to the Company to memorialize this agreement and understands
     that the failure to do so will render Executive ineligible for any
     severance pay, benefits or privileges whatsoever.

11.  Mutual Release and Indemnity. In the event of Executive's termination under
     circumstances described in paragraphs 1(a), 1(b), 2(a) or 2(b), the Company
     agrees to release and discharge Executive from any claim it may then or
     thereafter have against Executive with respect to employment with the
     Company or any of its subsidiaries or affiliates (other than with regard to
     Executive's obligations under this Agreement), and agrees to indemnify
     Executive in accordance with its then current policies or practices for
     active employees for any claims made against Executive by third parties
     arising out of the proper performance of Executive's duties as an employee
     of the Company or any of its subsidiaries or affiliates. In exchange for
     the consideration provided by the Company in this Agreement, together with
     the Company's release and indemnity, Executive agrees to release and
     discharge the Company, and its subsidiaries, affiliates, officers,
     directors, employees and agents (the "Released Persons") from any claim
     that Executive may then or thereafter have against the Company or such
     Released Persons (excluding any claim for the compensation, benefits and
     privileges described herein) arising out of or in connection with
     Executive's employment or termination of employment by the Company or any
     of its subsidiaries or affiliates. On termination, Executive agrees to
     execute a separate Release and Non-Competition Agreement in a form
     acceptable to the Company to memorialize this agreement and understands
     that the failure to do so will render Executive ineligible for any
     severance pay, benefits or privileges whatsoever.

12.  Severability. Whenever possible each provision and term of this Agreement
     shall be interpreted in such manner as to be effective and valid under
     applicable law, but if any provision or term of this Agreement shall be
     held to be prohibited by or invalid under such applicable law, then such
     provision or term shall be ineffective only to the extent of such
     prohibition or invalidity, without invalidating or affecting in any manner
     whatsoever the remainder of such provision or term, or the remaining
     provisions or terms of this Agreement.
<PAGE>

13.  Modification  and  Waiver of  Breach.  No waiver  or  modification  of this
     Agreement  shall be binding unless it is in writing,  signed by the parties
     hereto. No waiver of a breach hereof shall be deemed to constitute a waiver
     of a further breach, whether of a similar or dissimilar nature.

14.  Assignment.  This Agreement  shall be binding upon and inure to the benefit
     of any  successors  of the  Company.  As used  herein,  "successors"  shall
     include any person, firm, corporation or other business entity which at any
     time,   whether  by  merger,   purchase  or  otherwise,   acquires  all  or
     substantially all of the assets or business of the Company.

15.  Notice.  Any  written  notice to be given  hereunder  to  Executive  may be
     delivered  to him  personally  or shall be deemed to have been  given  upon
     deposit  thereof  in  the  U.S.  mail,  certified  mail,  postage  prepaid,
     addressed  to Executive at the address as it shall appear on the records of
     the Company.

16.  Construction  of Agreement.  This Agreement is made and entered into in the
     State of Ohio and shall be construed under the laws of Ohio.

17.  Entire Agreement. This Agreement constitutes the entire understanding
     between the parties with respect to Executive's severance pay, benefits and
     privileges in the event of a termination of Executive's employment with the
     Company, superseding all negotiations, prior discussions and agreements,
     written or oral, concerning said severance arrangements. This Agreement may
     not be amended except in writing by the parties hereof.


IN WITNESS WHEREOF, the parties hereto have executed this Agreement, consisting
seventeen numbered paragraphs and eight pages, as of the day and year first
above written.

OWENS CORNING,


/s/  Glen H. Hiner

Glen H. Hiner
Chairman and CEO
Agreed to and accepted:


---------------------------

Date:______________________