<PAGE>   1

                                                                    EXHIBIT 10.3

                              EMPLOYMENT AGREEMENT

         EMPLOYMENT AGREEMENT, dated December 1, 2000, between OMNOVA Solutions
Inc. ("OMNOVA"), an Ohio corporation whose headquarter offices are located at
175 Ghent Road, Fairlawn, Ohio 44333-3300, and KEVIN M. MCMULLEN, an individual
residing at 2257 South Overlook Road, Cleveland Heights, Ohio 44106.

         This will confirm our understanding concerning, and further define, the
terms and conditions of your employment with OMNOVA from and after December 1,
2000.

1.       STATUS AS CHIEF EXECUTIVE OFFICER.
         ---------------------------------

         Effective December 1, 2000, you will be employed as the Chief Executive
         Officer ("CEO"). In this capacity, you will devote your full time and
         efforts to the performance of those duties customarily and usually
         performed by the CEO, subject at all times to the direction of the
         Board of Directors ("Directors").

2.       STATUS AS CHAIRMAN.
         -------------------

         We anticipate that the Directors will elect you Chairman ("Chairman")
         of OMNOVA at the February 2001 meeting of Directors. If the Directors
         remove you as CEO prior to such meeting or fail to elect you Chairman
         at or before such meeting, or if, after electing you as Chairman,
         remove you from such position prior to your attaining age 65, you may
         elect to terminate your employment and receive the termination payment
         specified in paragraph 4(e). The preceding sentence notwithstanding,
         you shall not be entitled to the termination payment specified in
         paragraph 4(e) if the Directors decide to remove you as either CEO or
         Chairman or not to elect you Chairman for or due to cause. As used in
         this Employment Agreement, "cause" means any willful (i) failure to
         follow any instruction or policy of OMNOVA, the Directors, or the
         Chairman, (ii) commission of any felony, (iii) falsification of any
         company document or (iv) act committed to provoke dismissal.

3.       STATUS AS DIRECTOR.
         -------------------

         You will continue to serve as a Director upon becoming CEO and
         Chairman, and thereafter by mutual agreement between you and the
         Directors.

4.       COMPENSATION
         ------------

         (a)      BASE SALARY. Effective December 1, 2000, your base annual
                  salary will be $550,000, and thereafter will be subject to
                  review and adjustment by the non-employee Directors in
                  accordance with OMNOVA's established practice. Your base
                  salary will be payable in twenty-four semi-monthly
                  installments in accordance with OMNOVA's regular pay
                  practices.


<PAGE>   2
Kevin M. McMullen
Employment Agreement
December 1, 2000
Page 2 of 6

         (b)      ANNUAL INCENTIVE. You will continue to participate in OMNOVA's
                  Executive Incentive Compensation Program. Based upon OMNOVA's
                  achievement of specified objectives and the non-employee
                  Directors' evaluation of your personal performance, you will
                  have the opportunity to earn an incentive bonus in an amount
                  ranging up to 125% of your base salary and payable in cash
                  and/or shares of OMNOVA's stock. Bonuses are payable in
                  January or February following the end of OMNOVA's fiscal year
                  and in accordance with OMNOVA's regular pay practices and
                  discretion of the CEO.

         (c)      LONG-TERM INCENTIVE. You will continue to participate in the
                  Long-Term Incentive Program under the Company's 1999 Equity
                  and Performance Incentive Plan. If OMNOVA achieves specified
                  performance goals, you will be entitled to receive an
                  incentive award, payable in cash and/or shares of OMNOVA's
                  stock, having a value which equals 30% of your average annual
                  compensation during the performance period.

         (d)      STOCK OPTIONS. Effective December 1, 2000, the Directors will
                  grant you an award of Options for 350,000 shares of OMNOVA
                  stock under the Company's 1999 Equity and Performance
                  Incentive Plan. Such award will include Options for 200,000
                  shares in respect of your election as CEO, plus Options for
                  150,000 shares as an annual grant for the 2001 fiscal year.

         (e)      TERMINATION PAY. The term of your employment will be
                  indefinite in duration and, therefore, subject to termination
                  at will by notice from you or OMNOVA. However, if OMNOVA
                  elects to terminate your employment before you reach age 65
                  for any reason except cause or if you elect to terminate your
                  employment solely due to a decision of the Directors to remove
                  you as CEO and Chairman, which decision is not based on or due
                  to cause,

                  (i)      OMNOVA will pay you an amount equal to two times the
                           sum of (A) your annual base salary at the time of
                           such termination and (B) the highest year-end bonus
                           which OMNOVA paid to you in respect of the last three
                           fiscal years preceding such termination; for this
                           purpose, your highest-year-end bonus will be deemed
                           to be no less than 100% of your current annual base
                           salary;

                  (ii)     All OMNOVA stock options that you hold will be
                           exercisable in accordance with their terms and
                           conditions for the remainder of their respective
                           10-year terms; and


<PAGE>   3
Kevin M. McMullen
Employment Agreement
December 1, 2000
Page 3 of 6

                  (iii)    All performance awards under the OMNOVA Solutions
                           Inc. 1999 Equity and Performance Incentive Plan due
                           to you at the time of such termination for any
                           performance period already completed, plus a prorated
                           performance award for each performance period which
                           has not been completed at the time of such
                           termination (calculated using the greater of actual
                           or "target" attainment of performance goals for that
                           portion of any performance period not completed, will
                           be paid in accordance with the provisions of such
                           Plan.

                  provided that you execute and deliver to OMNOVA a release of
                  all claims and/or causes of action that arise during or in
                  connection with the termination of your employment, except
                  claims (1) to the termination payment specified in this
                  paragraph 4(e) and any other payment specified herein, (2)
                  under any stock option awarded to you, and (3) under any
                  employee compensation and/or benefit plan of OMNOVA.

5.       SEVERANCE AGREEMENT FOR CHANGE IN CONTROL. Your current severance
         agreement for change in control will be replaced by a new agreement
         providing for severance pay, in the event of a change in control, in an
         amount equal to three (3) times the sum of Base Pay plus Incentive Pay
         (as those terms are defined therein) and containing

         (a)      the standard terms and conditions utilized for the Company's
                  executive officers;

         (b)      a "walk at will" provision; and

         (c)      an additional provision which requires that any amount which
                  may become payable under that severance agreement be offset by
                  termination pay payable under this Employment Agreement as a
                  result of the termination of your employment due to a change
                  in control.

6.       EMPLOYEE BENEFITS

         You will continue to participate in the following OMNOVA employee
         benefit plans in accordance with their normal terms and conditions:

         (a)      Pension Plan for Salaried Employees of OMNOVA Solutions Inc.;

         (b)      Benefits Restoration Plan for Salaried Employees of OMNOVA
                  Solutions Inc.;

         (c)      OMNOVA Solutions Retirement Savings Plan;



<PAGE>   4
Kevin M. McMullen
Employment Agreement
December 1, 2000
Page 4 of 6



         (d)      OMNOVA Solutions Inc. Flexible Benefits Plan;

         (e)      OMNOVA Solutions Inc. Medical Plan;

         (f)      OMNOVA Solutions Inc. Dental Plan;

         (g)      OMNOVA Solutions Inc. Long-Term Disability Plan;

         (h)      OMNOVA Solutions Inc. Short-Term Disability Plan;

         (i)      OMNOVA Solutions Inc. Basic and Dependent Life Insurance Plan;

         (j)      OMNOVA Solutions Inc. Accidental Death and Dismemberment Plan;

         (k)      OMNOVA Solutions Inc. Voluntary Personal Accident Plan;

         (l)      OMNOVA Solutions Inc. Business Travel Accident Insurance Plan;
                  and

         (m)      OMNOVA Solutions Inc. Involuntary Separation Pay Plan. This
                  list may not be inclusive of other benefit plans currently in
                  place.

         Since your original hire date was subsequent to January 1, 1995, you
         will not be eligible to participate in the OMNOVA Solutions Inc.
         Retiree Medical Plan.

7.       VACATION
         --------

         You will continue to be entitled to four weeks of vacation with pay
         during each year of your employment. You may not carry forward to a
         subsequent year any unused vacation nor will you be entitled to receive
         pay in lieu of any unused vacation. Additionally, you will enjoy all
         paid holidays that OMNOVA designates for its salaried employees in the
         Fairlawn area.

8.       COUNTRY CLUB MEMBERSHIP
         -----------------------

         Building and maintaining business relationships with community leaders,
         customers, and suppliers is an important function which the CEO is
         expected to perform. OMNOVA will pay or reimburse you for membership
         fees and dues at a local country club for your business and personal
         use. All such payments and reimbursements will be treated as personal
         income to you in accordance with and as required by law.


<PAGE>   5
Kevin M. McMullen
Employment Agreement
December 1, 2000
Page 5 of 6

9.       FINANCIAL PLANNING
         ------------------

         OMNOVA's arrangement with AYCO to provide individual financial
         counseling for its corporate officers will continue to be available to
         you on a cost-sharing basis. If you elect to participate, your cost
         will be 10% of the annual fees charged by AYCO. You will have an
         imputed income liability for the company-paid 90%.

10.      ANNUAL PHYSICAL
         ---------------

         OMNOVA will provide you the opportunity to receive a physical
         examination at any other medical center that you may select. The
         frequency and extent of any such examination will be pursuant and
         subject to the provisions of OMNOVA's Executive Physical Directive.

11.      LIFE INSURANCE
         --------------

         OMNOVA will obtain and pay premiums for term life insurance coverage on
         your life in the amount of $4 million, the proceeds of which will be
         payable to a beneficiary designated by you. OMNOVA will gross up your
         income in order to pay for additional income tax you may owe with
         respect to such life insurance coverage. Upon termination of your
         employment, OMNOVA will cease to pay premiums for such life insurance
         coverage, and you will be able to continue such coverage at your own
         expense for the remainder of the term.

12.      RELOCATION
         ----------

         OMNOVA will pay or reimburse you for relocation expenses that you incur
         pursuant to OMNOVA's Relocation Program, including assistance on the
         sale of your residence, transportation of household goods, purchase of
         a residence in the immediate Akron area. A copy of this Program is
         being sent to you under separate cover.

13.      AGREEMENT
         ---------

         (a)      This Employment Agreement supercedes the Employment Agreement
                  dated July 16, 1996 between you and GenCorp Inc., and assumed
                  by OMNOVA in connection with the October 1, 1999 spinoff of
                  OMNOVA from GenCorp Inc.

         (b)      This Employment Agreement constitutes the entire understanding
                  between you and OMNOVA regarding the terms of your employment
                  with OMNOVA.



<PAGE>   6
Kevin M. McMullen
Employment Agreement
December 1, 2000
Page 6 of 6


         (c)      Except as expressly provided herein, this Employment Agreement
                  may not be changed, amended or terminated, in whole or in
                  part, except by a writing executed by you and by an authorized
                  officer of OMNOVA.

         (d)      This Employment Agreement shall in all respects be construed
                  in accordance with the laws of the State of Ohio.

         (e)      This Employment Agreement shall be binding upon and shall
                  inure to the benefit of the successors and assigns of OMNOVA,
                  including any successor resulting from a change in control.




                                    OMNOVA SOLUTIONS INC.

Date:        2/7/01                By:       /s/    Gregory T. Troy
     --------------------                --------------------------
                                             Gregory T. Troy
                                             Senior Vice President,
                                             Human Resources



Date:        2/7/01                           /s/   Kevin M. Mcmullen
     --------------------                ---------------------------
                                              KEVIN M. MCMULLEN