Document:

EX-10.1

 

23

Exhibit 10.1

Summary of Compensation Arrangements (or Amendments thereto)

of Named Executive Officers and Directors

Compensation Arrangements (or Amendments thereto) of those individuals identified in the Company’s
2007 Proxy Statement (the “Proxy Statement) as the Company’s Named Executive Offices (collectively,
the “Named Executive Officers”)*.

Base Salary:

     William R. Glass’s base salary for fiscal 2007 was set at $180,026 pursuant to his employment
agreement with Evans National Bank (filed as Exhibit 10.3 of the Company’s Form 10-K for the fiscal
year ended December 31, 1997 as filed on March 30, 1998).

     Robert G. Miller’s base salary for fiscal 2007 is $206,000 pursuant to his employment
agreement with ENB Insurance Agency, Inc.(filed as Exhibit 10.1 to the Company’s Current Report on
Form 8-K filed with the Securities and Exchange Commission on February 26, 2007).

In addition to base salaries, the Named Executive Officers are eligible to receive options granted
pursuant to the Company’s 1999 Stock Option and Long-Term Incentive Plan, as amended.

Bonuses:

     As previously reported in the Proxy Statement, the Human Resource Committee approved the
following bonus payments to the Company’s Named Executive Officers for performance in fiscal 2006:

	 	 	 	 	 
	James Tilley
	 	$	19,550	 
	William R. Glass
	 	$	15,425	 
	Robert G. Miller
	 	$	100,000	 
	Mark Kasperczyk
	 	$	1,416	 

     James Tilley, former president and chief executive officer of the Company and of Evans
National Bank, resigned as president on December 1, 2006 and as chief executive officer on April
30, 2007. Mark DeBacker, former treasurer of the Company and principal financial officer of Evans
National Bank resigned from his positions effective August 17, 2006. Mark Kasperczyk, former vice
president of Evans National Bank resigned from his position effective February 9, 2007.

Compensation Arrangements for Non-Employee Directors

Per-meeting and any annual fee compensation arrangements for non-employee directors have not
changed in fiscal 2007 from fiscal 2006.EX-10.1

 

Exhibit 10.1

SUPPLEMENTAL RETIREMENT AGREEMENT (POST-2004)

     THIS SUPPLEMENTAL RETIREMENT AGREEMENT (POST-2004) (“Post-2004 Agreement”), is entered into as
of May 10, 2007, by and between THE LAMSON & SESSIONS CO., an Ohio corporation with its principal
offices at Cleveland, Ohio (the “Company”), and James J. Abel (“Executive”):

WITNESSETH:

     WHEREAS, Executive entered into an Amended and Restated Supplemental Retirement Agreement on
January 1, 1991, which was further amended by the First Amendment thereto on January 1, 2000
(which, together, are hereinafter referred to as the “Pre-2005 Agreement”), in order to supplement
Executive’s retirement and disability benefits commensurate with his experience and value to the
Company;

     WHEREAS, the Internal Revenue Service has issued guidance changing the rules governing
deferred compensation arrangements for amounts accrued under such arrangements attributable to
services rendered on or after January 1, 2005;

     WHEREAS, Executive remains employed by the Company in a key executive position and possesses
substantial talent, ability and unique business experience which has been and will continue to be
of great value to the Company;

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

I.

     This Post-2004 Agreement is hereby established, effective January 1, 2005, with respect to
accruals attributable to services rendered by Executive on or after January 1, 2005.

II.

     The Pre-2005 Agreement shall remain in full force and effect with respect to all amounts
accrued through December 31, 2004.

III.

     1. DEFINITIONS. For purposes of this Agreement, the following terms shall
have the following meanings:

          1.1 A “Change in Control” shall be deemed to have occurred if any of the following
events shall occur:

	 	(a)	 	The acquisition by any individual, entity or group (within the
meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act
of 1934, as amended (the “Exchange Act”)) (a “Person”) of beneficial
ownership (within the meaning of Rule 13d-3 promulgated under the
Exchange Act) of 15% (20%, effective May 5, 2005) or more of either:
(A) the then-

 

 

	 	 	 	outstanding shares of common stock of the Company (the “Company
Common Stock”) or (B) the combined voting power of the
then-outstanding voting securities of the Company entitled to vote
generally in the election of directors (“Voting Stock”);
provided, however, that for purposes of this
subsection (a), the following acquisitions shall not constitute a
Change in Control: (i) any acquisition directly from the Company,
(ii) any acquisition by the Company, (iii) any acquisition by any
employee benefit plan (or related trust) sponsored or maintained by
the Company or any Subsidiary of the Company, or (iv) any acquisition
by any Person pursuant to a transaction which complies with clauses
(i), (ii) and (iii) of subsection (c) of this Section 1.2; or
	 
	 	(b)	 	Individuals who, as of the date hereof, constitute the Board
of Directors of the Company (the “Incumbent Board”) cease for any
reason (other than death or disability) to constitute at least a
majority of the Board of Directors of the Company; provided,
however, that any individual becoming a director subsequent to
the date hereof whose election, or nomination for election by the
Company’s shareholders, was approved by a vote of at least a majority
of the directors then comprising the Incumbent Board (either by a
specific vote or by approval of the proxy statement of the Company in
which such person is named as a nominee for director, without objection
to such nomination) shall be considered as though such individual were
a member of the Incumbent Board, but excluding for this purpose, any
such individual whose initial assumption of office occurs as a result
of an actual or threatened election contest (within the meaning of Rule
14a-11 of the Exchange Act) with respect to the election or removal of
directors or other actual or threatened solicitation of proxies or
consents by or on behalf of a Person other than the Board of Directors
of the Company; or
	 
	 	(c)	 	Consummation of a reorganization, merger or consolidation or
sale or other disposition of all or substantially all of the assets of
the Company (a “Business Combination”), in each case, unless, following
such Business Combination, (i) all or substantially all of the
individuals and entities who were the beneficial owners, respectively,
of the Company Common Stock and Voting Stock immediately prior to such
Business Combination beneficially own, directly or indirectly, more
than 50% of, respectively, the then-outstanding shares of common stock
and the combined voting power of the then-outstanding voting securities
entitled to vote generally in the election of directors, as the case
may be, of the entity resulting from such Business Combination
(including, without limitation, an entity which as a result of such
transaction owns the Company or all or substantially all of the
Company’s assets either directly or through one or more subsidiaries)
in substantially the same proportions relative to each other as their
ownership, immediately prior to such Business Combination, of the
Company Common Stock and Voting Stock of the Company, as the case may
be, (ii) no Person (excluding any entity resulting from such Business
Combination or any employee benefit plan (or related trust) sponsored
or maintained by the Company or such entity resulting from such
Business Combination) beneficially owns, directly or indirectly, 15%
(20%, effective May 5,

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	 	 	 	2005) or more of, respectively, the then-outstanding shares of common
stock of the entity resulting from such Business Combination, or the
combined voting power of the then-outstanding voting securities of
such corporation except to the extent that such ownership existed
prior to the Business Combination and (iii) at least a majority of
the members of the Board of Directors of the corporation resulting
from such Business Combination were members of the Incumbent Board at
the time of the execution of the initial agreement, or of the action
of the Board of Directors of the Company, providing for such Business
Combination; or
	 
	 	(d)	 	Approval by the shareholders of the Company of a complete
liquidation or dissolution of the Company.

          1.2 “Code” shall mean the Internal Revenue Code of 1986, as amended, and any
successor thereto.

          1.3 “Company” shall mean the Company and any of its divisions and subsidiaries.

          1.4 “Eligible” shall mean that Executive shall have attained age fifty-five (55) and
shall have completed five (5) years of continuous employment with the Company; provided, however,
that if a Change of Control shall have occurred, Executive shall be deemed to be “Eligible” for all
purposes of this Agreement regardless of his age or length of employment with the Company.

          1.5 Termination “For Cause” shall mean prior to any termination of employment by the
Company, the Executive shall have committed:

	 	(a)	 	An intentional act of fraud, embezzlement or theft in
connection with his duties or in the course of his employment with the
Company;
	 
	 	(b)	 	Intentional wrongful damage to property of the Company; or
	 
	 	(c)	 	Intentional wrongful disclosure of secret processes or
confidential information of the Company;

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 of Directors of the Company then
in office at a meeting of the Board of Directors of the Company called and held for such purpose
(after reasonable notice to the Executive and an opportunity for the Executive, together with his
counsel, to be heard before the Board of Directors of the Company), finding that, in the good faith
opinion of the Board of Directors of the Company, the Executive had committed an act set forth
above in this Section 1.5 and specifying the particulars thereof in detail. Nothing herein shall
limit the right of the Executive or his beneficiaries to contest the validity or propriety of any
such determination.”

          1.6 “Normal Retirement Date” shall mean the first day of the month coincident with
or next following Executive’s attainment of age sixty-five (65).

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          1.7 “Other Plan Benefit” shall mean a benefit payable to Executive under any defined
benefit plan, other than the Retirement Plan, sponsored by the Company, any of its divisions or
subsidiaries, or a prior employer of Executive (“Other Plan”), calculated as if payable to
Executive on a life annuity basis commencing on the date supplemental benefits commence to
Executive under this Agreement (irrespective of any deferral of the commencement of payment of such
benefits thereunder).

          1.8 “Permanent Disability” shall have the meaning accorded the term “total and
permanent disability” by the Retirement Plan.

          1.9 “Retirement Plan” shall mean The Lamson & Sessions Co. Salaried Employees’
Retirement Plan, as amended from time to time.

          1.10 “Retirement Plan Benefit” shall mean the amount actually payable to Executive
under the Retirement Plan pursuant to the terms thereof, on a life annuity basis, commencing on the
date supplemental benefits commence to Executive under this Agreement, or, if the payments to
Executive under the Retirement Plan shall not commence until his Normal Retirement Date and the
supplemental benefits under this Agreement commence prior to his Normal Retirement Date,
“Retirement Plan Benefit” shall mean the amount which would have been payable under the Retirement
Plan had Executive not elected to defer said commencement date.

          1.11 “Termination of Employment” shall mean a separation from service as defined
under Section 409A of the Code, as amended, and guidance issued thereunder.

     2. SUPPLEMENTAL RETIREMENT AND DISABILITY BENEFITS

          2.1 Retirement at Normal Retirement Date. Upon Executive’s Termination of
Employment on or after his Normal Retirement Date, and provided he is Eligible on the date of such
Termination of Employment, the Company shall pay Executive, commencing on the first day of the
month following his Termination of Employment, a supplemental retirement benefit. Such
supplemental retirement benefit shall be paid, on a life annuity basis, in an amount determined
pursuant to the following formula:

	 	(a)	 	The retirement benefit which would have been payable to
Executive, on a life annuity basis, under the Retirement Plan as of the
first day of the month following his Termination of Employment, without
regard, however, to

	 	(i)	 	the limitations on the annual amount of benefits sat
forth in Article XV of the Retirement Plan or
	 
	 	(ii)	 	any limitation imposed by Section 401(a)(17) of the
Code on the amount of compensation taken into account under the
Retirement Plan or any Other Plan
	 
	 	if he had completed thirty (30) years of continuous employment with
the Company on or as of the date of his retirement, minus

	 	(b)	 	Executive’s Retirement Plan Benefit plus any other Plan
Benefits.

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          2.2 Termination of Employment Other Than For Cause Or As a Result of Death Or
Disability. In the event that Executive shall incur a Termination of Employment with the
Company prior to his Normal Retirement Date other than For Cause or by reason of his death or
Permanent Disability, and provided he is Eligible on the date of such Termination of Employment,
the Company shall pay Executive, commencing on the first day of the month next following such
Termination of Employment, a supplemental retirement benefit. Such supplemental retirement benefit
shall be paid, on a life annuity basis, in an amount determined pursuant to the following formula:

	 	(a) 	 	(i) 	 	The retirement benefit which would have bean payable to
Executive, on a life annuity basis, under the Retirement Plan as of the
first day of the month following his Termination of Employment, without
regard, however, to

	 	(x)	 	the limitations on the annual amount of
benefits sat forth in Article XV of the Retirement Plan
or
	 
	 	(y)	 	any limitation imposed by Section 401(a)(17) of
the Code on the amount of compensation taken into
account under the Retirement Plan or any Other Plan,
	 
	 	if he had completed thirty (30) years of continuous
employment with the Company on or as of the date of his
termination and his retirement benefits had commenced as of
his termination of employment, multiplied by

	 	(ii)	 	A fraction, the numerator of which shall be the number
of years of the Executive’s continuous employment with the
Company until his Termination of Employment and the denominator
of which shall be the number of years of continuous employment
Executive would have had if he had remained employed by the
Company until his Normal Retirement Date (provided, however,
that if Executive shall have attained age sixty-two (62) and is
entitled to an unreduced benefit under the Retirement Plan, the
fraction referred to in this Section 2.2(a)(ii) shall be equal
to one (1)); minus

	 	(b)	 	Executive’s Retirement Plan Benefit plus any Other Plan
Benefits.

          2.3 Termination Due to Disability.

	 	(a)	 	Pre-Retirement Disability Benefit. In the event that
Executive incurs a Termination of Employment with the Company by reason
of his Permanent Disability and becomes eligible for payments under the
Company’s Long-Term Disability Income Plan (the “LTD Plan”) by reason
of such Permanent Disability, and provided he is Eligible on the date
of his Termination of Employment, the Company shall pay Executive,
commencing on the date payments under the LTD Plan commence but subject
to Section 2.4 below, a supplemental disability benefit, on a monthly
basis, in an amount determined pursuant to the following formula:

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	 	(i)	 	Sixty percent (60%) of the Executive’s basic monthly
earnings (as defined in the LTD Plan); minus
	 
	 	(ii)	 	monthly disability benefits paid under the LTD Plan;
minus
	 
	 	(iii)	 	other income benefits (as defined in the LTD Plan),
except family Social Security benefits and the benefits payable
to Executive under this Agreement.
	 
	 	Such supplemental disability payments shall continue until the
cessation of disability benefits under the LTD Plan.

	 	(b)	 	Post-Retirement Disability Benefit. In the event that
Executive’s employment with the Company shall be terminated by reason
of his Permanent Disability and he would have thereafter become
eligible for a disability retirement benefit pursuant to Section 6.5 of
the Retirement Plan, and provided he is Eligible on the date of
termination, the Company shall pay Executive, commencing upon the later
of his Normal Retirement Date or the date upon which pre-retirement
disability benefits payable under Section 2.3(a) cease, a supplemental
retirement benefit, on a life annuity basis, in an amount determined
pursuant to the formula set forth in Section 2.1 of this Agreement.

          2.4 Benefit Commencement for Key Employee. Notwithstanding any provision in
this Post-2004 Agreement to the contrary, if Executive is a Key Employee (as defined in Section
409A of the Code and Section 416(i) of the Code (without regard to paragraph 5 thereof) on the date
he incurs a Termination of Employment with the Company and if the payments to be made to Executive
hereunder, including the first payments of a series of annual installments or monthly payments, are
subject to Section 409A of the Code, the Company shall pay such amounts on the first day of the
seventh month following Executive’s Termination of Employment (or, if earlier, as soon as
practicable after the date of Executive’s death). The first payment shall include all payments
that would otherwise have been made but for this subsection.

     3. METHODS OF PAYMENT.

	 	(a)	 	If on the date benefits under Section 2 commence Executive is
not married, such benefits shall be paid in the Life Annuity Form
described in Article VII of the Retirement Plan. If on the date such
benefits commence Executive is married, such benefits shall be paid in
the Spouse’s Annuity Form (described in Section 7.3 of the Retirement
Plan as Form 2). This Section 3 shall not be applicable to
pre-retirement disability benefits payable under Section 2.3(a).
	 
	 	(b)	 	If Executive elects to receive his Retirement Plan Benefit in
the Subsidized Spouse’s Annuity Form (described in Section 7.3 of the
Retirement Plan as Form 5), then Executive shall be entitled to a lump
sum payment in an amount equal to the difference between (i) the
Actuarial Equivalent of the amounts payable to the Executive and his
spouse under both the Pre-2005 Agreement and this Post-2004 Agreement
pursuant to the Spouse’s Annuity Form (described in Section

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	 	 	 	7.3 of the Retirement Plan as Form 2) and (ii) the Actuarial
Equivalent of the amounts that would be payable to Executive and his
spouse if Executive’s benefit under both the Pre-2005 Agreement and
this Post-2005 Agreement were paid pursuant to the Subsidized
Spouse’s Annuity Form (described in Section 7.3 of the Retirement
Plan as Form 5). Payment of such lump sum amount shall be made on
the last day of the seventh month following Executive’s Termination
of Employment. For this purpose, Actuarial Equivalent shall have the
same meaning as set forth in the Retirement Plan.

     4. POST-DEATH BENEFITS.

          4.1 Death of Executive After Commencement of Supplemental Retirement
Benefits. In the event of the death of Executive on or after the date benefits under Section 2
(not including pre-retirement disability benefits payable under Section 2.3(a)) commence, the
Company shall pay to Executive’s beneficiary or beneficiaries the death benefit (including Spouse’s
Annuity), if any, provided under the form of payment pursuant to which Executive was receiving
benefits pursuant to Section 3(a), commencing on the first day of the month following the month in
which Executive dies. To the extent that payment of the lump sum amount specified in Section 3(b)
has not been made to Executive prior to his death, payment of such lump sum amount shall be made to
Executive’s estate.

          4.2 Death of Married Executive Prior to Retirement. In the event of the
death of Executive while he is in the employment of the Company or a division or subsidiary
thereof, after attainment of age 55, while he is married, and prior to his Normal Retirement Date,
the Company shall pay to Executive’s surviving spouse, commencing on the first day of the month
following the month in which Executive dies, a supplemental spouse’s benefit, on a life annuity
basis, in an amount determined and calculated as follows:

	 	(a) 	 	(i) 	 	The death benefit (including Spouse’s Annuity) which would
have been payable under Section 9.2 of the Retirement Plan, without
regard, however, to

	 	(x)	 	the limitations on the annual amount of
benefits set forth in Article XV of the Retirement Plan
or
	 
	 	(y)	 	any limitation imposed by Section 401(a)(17) of
the Code on the amount of compensation taken into
account under the Retirement Plan or any Other Plan
	 
	 	if he had completed thirty (30) years of continuous
employment with the Company and had retired on or as of the
date of his death, multiplied by

	 	 	 	(ii)	 	A fraction, the numerator of which shall be the number
of years of the Executive’s continuous employment with the
Company until his date of death and the denominator of which
shall be the number of years of continuous employment Executive
would have had if he had remained employed by the Company until
his Normal Retirement Date (provided, however, that if Executive
shall have attained age sixty-two (62) and would be entitled to
an unreduced benefit under the Retirement Plan, the fraction

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	 	 	 	referred to in this Section 4.2(a)(ii) shall be equal to one
(1)); minus

	 	(b)	 	The death benefit actually payable under Section 9.2 of the
Retirement Plan plus any other Plan Benefits payable to the surviving
spouse.

     5. FORFEITURE OF BENEFITS.

          5.1 Termination For Cause. In the event that the Company shall at any time
terminate Executive’s employment For Cause, it is hereby agreed that the Company shall have no
obligation under this Agreement of any nature whatsoever and that Executive’s rights and the rights
of his beneficiary or beneficiaries hereunder shall be completely and totally forfeited.

          5.2 Termination of Employment Prior to Executive Becoming Eligible. In the
event that Executive’s employment with the Company shall be terminated for any reason prior to
Executive’s becoming Eligible, it is hereby agreed that the Company shall have no obligation under
this Agreement of any nature whatsoever and that Executive’s rights and the rights of his
beneficiary or beneficiaries hereunder shall be completely and totally forfeited.

          5.3 Violation of Noncompetition Clause. In the event that Executive shall
engage in conduct which constitutes a violation of Section 6 of this Agreement, the Company shall
be free from any obligation to make any payments provided for under this Agreement to Executive or
to Executive’s beneficiaries, and any and all such payments shall cease.

     6. LIMITATIONS AND RESTRICTIONS ON COMPETITION. During a period ending on
the date of the first to occur of either the attainment by Executive of age 65 or one (1) year
following the termination of Executive’s employment with the Company for any reason, Executive
shall not, without the prior written consent of the company, engage in any Competitive Activity.
For purposes of this Agreement, “Competitive Activity” shall mean Executive’s participation,
without the written consent of the Company, 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
25% 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 25% of the company’s net sales for its most
recently completed fiscal year. “Competitive Activity” shall 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 ouch enterprise.

     7. MISCELLANEOUS PROVISIONS.

          7.1 Assignment. This Agreement shall be binding upon and shall inure to the
benefit of the Company and its successors and assigns. No right or interest under this Agreement
of Executive (or any person claiming through or under Executive) other than the surviving spouse of
Executive after he is deceased shall be assignable or transferable in any manner or be subject to
alienation, anticipation, sale, pledge, encumbrance or other legal process or in any manner be
liable for or subject to the debts or liabilities of Executive.

          7.2 Interpretation. All questions of interpretation, construction or
application arising under this Agreement shall be decided by the Board of Directors of the Company,
whose decision shall be final and conclusive upon all persons.

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          7.3 Termination Of Other Plan Benefits. To facilitate the determination of
Executive’s Other Plan Benefits, Executive shall, upon request by the Company, authorize all prior
employers to release to the Company a record of his plan benefits and provide the Company by April
15 of each year with a copy of his W-2, W-2P and 1099 forms for the preceding year. Any
information received from a prior employer regarding benefits payable to Executive from said
employer may be relied upon by the Company and shall be conclusively presumed to be accurate.

          7.4 Savings Clause. In the event that any provision or term of this
Agreement is finally determined by any judicial, quasijudicial or administrative body to be void or
not enforceable for any reason, it is the intent of the parties hereto that all other provisions
and terms of this Agreement shall remain in full force and effect and that this Agreement shall be
enforceable as if such void or non-enforceable provision or term had never been a part hereof.

          7.5 Governing Law. This Agreement is executed in and shall be construed in
accordance with and governed by the laws of the State of Ohio without giving effect to any
provision of such laws regarding choice of laws or conflict of laws.

          7.6 No Rights in Any Property of Company. The undertakings of the Company
herein constitute merely the unsecured promise of the Company to make the payments as provided for
herein; no property of the Company is or shall, by reason of this Agreement, be held in trust for
Executive, any beneficiary or any other person; and neither Executive nor any beneficiary nor any
other person shall have by reason of this Agreement any right, title or interest of any kind in or
to any property of the Company; provided, however, that the Company may transfer assets to the
trustee under a Trust Agreement by and between the Company and a national banking institution
serving as Trustee, to satisfy its obligations hereunder. It is intended that (i) this Agreement
shall be “unfunded” for purposes of Title I of the Employee Retirement Income Security Act of 1974,
as amended, (ii) nothing in this Agreement shall currently constitute a transfer of property for
purposes of Section 83 of the Code, or any successor provision thereto, or shall cause a currently
taxable benefit to be realized by Executive or his beneficiaries pursuant to the “economic benefit”
doctrine and (iii) pursuant to Section 451 of the Code, or any successor provision thereto, amounts
payable pursuant to this Agreement will be includable in the gross income of Executive or his
beneficiaries in the taxable year or years in which such amounts are actually distributable or made
available to Executive or his beneficiaries.

          7.7 Employment of Executive by Company. Nothing herein shall be construed
as an offer or commitment by the Company to continue Executive’s employment with the Company for
any period of time.

          7.8 Termination by Company. The Company may terminate this Agreement at any
time; provided, however, that no such termination shall adversely affect the rights or benefits
accrued by Executive (whether or not vested) under this Agreement prior to his receipt of notice of
such termination.

          7.9 Taxes. Notwithstanding anything in this Agreement to the contrary, the
Company shall not be obligated to guarantee any particular tax result for Executive with respect to
any income recognized by the Executive in connection herewith, and Executive shall be responsible
for any taxes imposed on Executive in connection herewith.

          7.10 Compliance with Section 409A of the Code. It is intended that this
Agreement comply with the provisions of Section 409A of the Code. The Agreement shall be
administered in a manner consistent with this intent, and any provision that would cause the
Agreement to fail to satisfy Section 409A of the Code shall have no force and effect until amended
to comply with Section 409A of

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the Code (which amendment may be retroactive to the extent permitted by Section 409A of the
Code and may be made by the Company without the consent of Executive).

          7.11 Notices. All notices, requests, consents and other communications
hereunder shall be in writing and shall be deemed to have been duly given when received. All such
communications shall be addressed as follows:

          If to the Company, to:

The Lamson & Sessions Co.

25701 Science Park Drive

Cleveland, Ohio 44122

Attention: Secretary

          If to Executive, to:

James J. Abel

2949 North Park Boulevard

Cleveland Heights, Ohio 44118

provided, however, that if any party or his or its successors shall have designated a different
address by written notice to the other party, then to the last address so designated.

     IN WITNESS WHEREOF, the parties hereto have hereunto set their hands as of the day and year
first above written.

	 	 	 	 	 
	 	THE LAMSON & SESSIONS CO.

 	 
	 	By:  	/s/ Michael J. Merriman, Jr.
 	 
	 	 	Michael J. Merriman, Jr. 	 
	 	 	President and Chief Executive Officer 	 
	 
	 	 	 
	 	                                                     /s/ James J. Abel
 	 
	 	James J. Abel 	 
	 	 	 
	 

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