Document:

WWW.EXFILE.COM, INC. -- 13629 -- HARSCO CORPORATION -- EXHIBIT 10.1 TO FORM 8-K

     

    EXHIBIT
      10.1

     

    FORM
      OF

     

    CHANGE
      IN CONTROL SEVERANCE AGREEMENT

     

    (Chairman,
      President and CEO and Senior Vice Presidents)

    

    This
      AGREEMENT is by and between Harsco Corporation, a Delaware corporation
      (the “Company”), and _________________ (the “Executive”), dated as of the __ day
      of _______, 200__. 

    

    WHEREAS,
      the Company recognizes that the current business environment makes it difficult
      to attract and retain highly-qualified executives unless a certain degree of
      security can be offered to such executives against organizational and personnel
      changes which frequently follow Changes in Control (as defined below) of a
      corporation; and 

    

    WHEREAS,
      the Board of Directors recognizes the long and valued service which the
      Executive has provided as an officer of Harsco and considers the Executive
      to be
      an important resource which the Company desires to retain; and 

    

    WHEREAS,
      the Company desires to assure fair treatment of its key executives in the event
      of a Change in Control and to allow them to make critical career decisions
      without undue time pressure and financial uncertainty, thereby increasing their
      willingness to remain with the Company notwithstanding the outcome of a possible
      Change in Control transaction; and 

    

    WHEREAS,
      the Company recognizes that its key executives will be involved in evaluating
      or
      negotiating any offers, proposals, or other transactions which could result
      in
      Changes in Control of the Company and believes that it is in the best interests
      of the Company and its shareholders that such key executives be in a position,
      free from personal financial and employment considerations, to be able to assess
      objectively and pursue aggressively the interests of the Company’s shareholders
      in making these evaluations and carrying on such negotiations; and 

    

    WHEREAS,
      the Board of Directors (the “Board”) of the Company believes it is essential to
      provide the Executive with compensation arrangements upon a Change in Control
      which provide the Executive with individual financial security and which are
      competitive with those of other corporations, and in order to accomplish these
      objectives, the Board has caused the Company to enter into this Agreement;
      and

    

    WHEREAS,
      the Company and the Executive have previously entered into an agreement, dated
      _____________ (the “Prior Agreement”) regarding compensation to be paid to the
      Executive in certain circumstances, including following a Change in Control;
      and

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

       

    

    WHEREAS,
      the Company and the Executive desire to replace and supersede the Prior
      Agreement with this Agreement; 

    

    NOW
      THEREFORE, the parties, for good and valuable consideration and intending to
      be
      legally bound, agree as follows: 

    

    
      	1.  	
              Certain
                Definitions.
                

            

    

     

    
      	(a)  	
              The
                “Term of the Agreement” is the period commencing on the date hereof and
                ending on the third anniversary of such date provided,
                however,
                that (i) commencing on the date one year after the date hereof, and
                on
                each annual anniversary of such date (such date and each annual
                anniversary thereof is hereinafter referred to as the “Renewal Date”), the
                Term of the Agreement shall be automatically extended so as to terminate
                three years from such Renewal Date, unless at least 60 days prior
                to the
                Renewal Date the Company shall give notice that the Term of the Agreement
                shall not be so extended; and (ii) if a Change in Control occurs
                during
                the Term of the Agreement, the Term of the Agreement will expire
                on the
                last day of the Protection Period (as defined herein); and (iii)
                if, prior
                to a Change in Control, the Executive ceases for any reason to be
                an
                officer of the Company, thereupon without action, the Term of the
                Agreement shall be deemed to have expired and this Agreement will
                immediately terminate and be of no further
                effect.

            

    

     

    
      	(b)  	
              The
                “Effective Date” shall be the first date during the “Term of the
                Agreement” as defined in Section 1(a) on which a Change in Control occurs.
                Anything in this Agreement to the contrary notwithstanding, if the
                Executive’s employment with the Company is terminated prior to the date on
                which a Change in Control occurs, and it is reasonably demonstrated
                that
                such termination (1) was at the request of a third party who has
                taken
                steps reasonably calculated to effect a Change in Control or (2)
                otherwise
                arose in connection with or anticipation of a Change in Control,
                then for
                all purposes of this Agreement the “Effective Date” shall mean the date
                immediately prior to the date of such termination.
                

            

    

     

    
      	(c)  	
              A
                reference herein to a section of the Internal Revenue Code of 1986,
                as
                amended (the “Code”) or a subsection thereof shall be construed to
                incorporate reference to any section or subsection of the Code enacted
                as
                a successor thereto, any applicable proposed, temporary or final
                regulations promulgated pursuant to such sections and any applicable
                interpretation thereof by the Internal Revenue Service.
                

            

    

     

    
      	(d)  	
              “Present
                Value,” for purposes of this Agreement, shall be determined in accordance
                with Section 280G(d) (4) of the Code as of the date specified for
                such
                determination, applying a discount rate, compounded no less
                

            

    

    
       

      
        
          
          

        

        
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                frequently
                  than monthly, that is equivalent to the rate specified for such
                  determination. 

              

      

       

    

    
      	(e)  	
              A
                reference herein to a section of the Securities Exchange Act of 1934
                (the
                “Exchange Act”) or any Rule promulgated thereunder shall be construed to
                incorporate reference to any section of the Exchange Act or any Rule
                enacted or promulgated as a successor thereto.

            

    

     

    
      	2.  	
              Change
                in Control.
                For the purpose of this Agreement, a “Change in Control” shall mean:
                

            

    

     

    
      	(a)  	
              The
                acquisition (other than from the Company) by any person, entity or
                “group,” within the meaning of Section 13(d)(3) or 14(d)(2) of the
                Exchange Act (a “Person”) (excluding,
                for this purpose, the Company or its subsidiaries, or any employee
                benefit
                plan of the Company or its subsidiaries which acquires beneficial
                ownership of voting securities of the Company) of beneficial ownership
                (within the meaning of Rule 13d-3 promulgated under the Exchange
                Act) of
                20% or more of either the then outstanding shares of common stock
                or the
                combined voting power of the Company’s then outstanding voting securities
                entitled to vote generally in the election of directors (the “Voting
                Stock”); provided,
                however,
                that a Change in Control will not be deemed to have occurred if a
                Person
                becomes the beneficial owner of 20% or more of the Voting Stock as
                a
                result of a reduction in the number of shares of Voting Stock outstanding
                pursuant to a transaction or series of transactions that is approved
                by a
                majority of the Incumbent Board (as defined below) unless and until
                such
                Person thereafter becomes the beneficial owner of any additional
                shares of
                Voting Stock of the Company representing 1% or more of the
                then-outstanding Voting Stock of the Company, other than as a result
                of a
                stock dividend, stock split or similar transaction effected by the
                Company
                in which all holders of Voting Stock are treated equally; or
                

            

    

     

    
      	(b)  	
              Individuals
                who, as of the date hereof, constitute the Board (the “Incumbent Board”)
                cease for any reason to constitute at least a majority of the Board,
                provided that any person becoming a director subsequent to the date
                hereof
                whose election, or nomination for election by the Company’s stockholders,
                or appointment, 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
                and other than an election or nomination of an individual whose initial
                assumption of office is in connection with an actual or threatened
                election contest relating to the election of the directors of the
                Company,
                as such terms are used in Rule 14a-11 of Regulation 14A promulgated
                under
                the Exchange Act) shall be, for purposes of this Agreement, considered
                as
                though such person were a member of the Incumbent Board; or
                

            

    

     

    
      
        
        

      

      
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      	(c)  	
              The
                consummation of a reorganization, merger or consolidation, or sale
                or
                other disposition of all or substantially all of the assets of the
                Company
                or the acquisition of the stock or assets of another corporation
                or other
                transaction (each, a “Business Transaction”) with respect to which, in any
                such case, the persons who were the stockholders of the Company
                immediately prior to such Business Transaction do not, immediately
                thereafter, own more than 50% of the combined voting power entitled
                to
                vote in the election of directors of the entity resulting from such
                Business Transaction; or 

            

    

     

    
      	(d)  	
              Approval
                by the stockholders of the Company of a liquidation or dissolution
                of the
                Company or of the sale of all or substantially all the assets of
                the
                Company. 

            

    

     

    
      	3.  	
              Protection
                Period.
                The Company hereby agrees to continue the Executive in its employ,
                and the
                Executive hereby agrees to remain in the employ of the Company, for
                the
                period commencing on the Effective Date and ending on the earlier
                to occur
                of (a) the third anniversary of such date; or (b) the date that this
                Agreement otherwise terminates, as provided herein (the “Protection
                Period”).

            

    

     

    
      	4.  	
              Terms
                of Employment During Protection Period.
                

            

    

     

    
      	(a)  	
              Position
                and Duties.
                

            

    

     

    
      	(i)  	
              During
                the Protection Period, (A) the Executive’s position (including status,
                offices, titles and reporting requirements), authority, duties and
                responsibilities shall be at least commensurate in all material respects
                with the most significant of those held, exercised and assigned at
                any
                time during the 90-day period immediately preceding the Effective
                Date and
                (B) the Executive’s services shall be performed at the location where the
                Executive was employed immediately preceding the Effective Date or
                any
                office or location less than twenty-five (25) miles from such location.
                

            

    

     

    
      	(ii)  	
              During
                the Protection Period, and excluding any periods of vacation and
                sick
                leave to which the Executive is entitled, the Executive agrees to
                devote
                reasonable attention and time during normal business hours to the
                business
                and affairs of the Company and, to the extent necessary to discharge
                the
                responsibilities assigned to the Executive hereunder, to use the
                Executive’s reasonable best efforts to perform faithfully and efficiently
                such responsibilities. During the Protection Period it shall not
                be a
                violation of this Agreement for the Executive to (A) serve on corporate,
                civic or charitable boards or committees, (B) deliver lectures, fulfill
                speaking engagements or teach at educational institutions and (C)
                manage
                personal investments, so long as such activities do not significantly
                interfere with the performance of the

            

    

    
       

      
        
          
          

        

        
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                Executive’s
                  responsibilities as an employee of the Company in accordance with
                  this
                  Agreement. It is expressly understood and agreed that to the extent
                  that
                  any such activities have been conducted by the Executive prior
                  to the
                  Effective Date, the continued conduct of such activities (or the
                  conduct
                  of activities similar in nature and scope thereto) subsequent to
                  the
                  Effective Date shall not thereafter be deemed to interfere with
                  the
                  performance of the Executive’s responsibilities to the Company.
                  

              

      

       

    

    
      	(b)  	
              Compensation.
                

            

    

     

    
      	(i)  	
              Base
                Salary.
                During the Protection Period, the Executive shall receive a base
                salary
                (“Base Salary”) at a monthly rate at least equal to the highest monthly
                base salary paid or payable to the Executive by the Company during
                the
                twelve-month period immediately preceding the month in which the
                Effective
                Date occurs. During the Protection Period, the Base Salary shall
                be
                reviewed at least annually and shall be increased at any time and
                from
                time to time as shall be substantially consistent with increases
                in base
                salary awarded in the ordinary course of business to other key executives
                of the Company and its subsidiaries. Any increase in Base Salary
                shall not
                serve to limit or reduce any other obligation to the Executive under
                this
                Agreement. Base Salary shall not be reduced after any such increase.
                

            

    

     

    
      	(ii)  	
              Annual
                Bonus.
                In addition to Base Salary, the Executive shall be awarded, for each
                fiscal year ending during the Protection Period, an annual bonus
                (an
                “Annual Bonus”) (either pursuant to the Incentive Compensation Plan of the
                Company or otherwise) in cash at least equal to the average annual
                cash
                incentive payments received by the Executive from the Company and
                its
                subsidiaries in respect of the three fiscal years immediately preceding
                the fiscal year in which the Effective Date occurs. Upon termination
                of
                the Protection Period, the Company shall pay the Executive an Annual
                Bonus
                for the year in which termination occurs, prorated to the end of
                the
                Protection Period. 

            

    

     

    
      	(iii)  	
              Incentive,
                Savings and Retirement Plans.
                In addition to Base Salary and Annual Bonus payable as hereinabove
                provided, the Executive shall be entitled to participate during the
                Protection Period in all incentive, savings, pension, supplemental
                executive retirement, and other retirement plans, deferred compensation
                plans, stock option plans and other equity and long-term incentive
                plans
                and other plans, practices, policies and programs applicable to other
                key
                executives of the Company and its subsidiaries (including, without
                limitation, the Company’s Incentive Compensation Plan, its Savings Plan
                and its Supplemental 

            

    

    
       

      
        
          
          

        

        
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                Executive
                  Retirement Plan), in each case providing benefits which are the
                  economic
                  equivalent to those currently in effect or as subsequently amended.
                  Such
                  plans, practices, policies and programs, in the aggregate, shall
                  provide
                  the Executive with compensation, benefits and reward opportunities
                  at
                  least as favorable as the most favorable of such compensation,
                  benefits
                  and reward opportunities provided by the Company for the Executive
                  under
                  such plans, practices, policies and programs as in effect at any
                  time
                  during the 90-day period immediately preceding the Effective Date
                  or, if
                  more favorable to the Executive, as provided at any time thereafter
                  with
                  respect to other key executives of the Company and its subsidiaries.
                  

              

      

       

    

    
      	(iv)  	
              During
                the Protection Period, the Executive and/or the Executive’s family, as the
                case may be, shall be eligible for participation in, and shall receive
                all
                benefits under, welfare benefit plans, practices, policies and programs
                provided by the Company and its subsidiaries (including, without
                limitation, medical, prescription, dental, disability, salary continuance,
                employee life, group life, accidental death and travel accident insurance
                plans and programs), at least as favorable as the most favorable
                of such
                plans, practices, policies and programs in effect at any time during
                the
                90-day period immediately preceding the Effective Date or, if more
                favorable to the Executive and/or the Executive’s family, as in effect at
                any time thereafter with respect to other key executives of the Company
                and its subsidiaries. 

            

    

     

    
      	(v)  	
              Expenses.
                During the Protection Period, the Executive shall be entitled to
                an office
                or offices of a size and with furnishings and other appointments,
                and to
                secretarial and other assistance, at least equal to the most favorable
                of
                the foregoing provided to the Executive by the Company and its
                subsidiaries at any time during the 90-day period immediately preceding
                the Effective Date or, if more favorable to the Executive, as provided
                at
                any time thereafter with respect to other key executives of the Company
                and its subsidiaries. 

            

    

     

    
      	(vi)  	
              Vacation.
                During the Protection Period, the Executive shall be entitled to
                paid
                vacation and holidays in accordance with the most favorable plans,
                policies, programs and practices of the Company and its subsidiaries
                as in
                effect at any time during the 90-day period immediately preceding
                the
                Effective Date or, if more favorable to the Executive, as in effect
                at any
                time thereafter with respect to other key executives of the Company
                and
                its subsidiaries. 

            

    

     

    
      
        
        

      

      
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      	5.  	
              Certain
                Terms Relating to Termination.

            

    

     

    
      	(a)  	
              Disability.
                If the Company determines in good faith that the Disability of the
                Executive has occurred (pursuant to the definition of “Disability” set
                forth below) during the Protection Period, it may give to the Executive
                written notice of its intention to terminate the Executive’s employment.
                In such event, the Executive’s employment with the Company shall terminate
                effective on the 30th day after receipt of such notice by the Executive
                (the “Disability Effective Date”), provided that, within the 30 days after
                such receipt, the Executive shall not have returned to full-time
                performance of the Executive’s duties. For purposes of this Agreement,
                “Disability” means disability which, at least 26 weeks after its
                commencement, is determined to be total and permanent by a physician
                selected by the Company or its insurers and acceptable to the Executive
                or
                the Executive’s legal representative (such agreement as to acceptability
                not to be withheld unreasonably).

            

    

     

    
      	(b)  	
              Cause.
                During the Protection Period, the Company may terminate the Executive’s
                employment for “Cause.” For purposes of this Agreement, “Cause” means (i)
                an act or acts of personal dishonesty taken by the Executive and
                intended
                to result in substantial personal enrichment of the Executive at
                the
                expense of the Company, (ii) repeated violations by the Executive
                of the
                Executive’s obligations under Section 4(a) of this Agreement which are
                demonstrably willful and deliberate on the Executive’s part and which are
                not remedied in a reasonable period of time after receipt of written
                notice from the Company or (iii) the conviction of the Executive
                of a
                felony. 

            

    

     

    
      	(c)  	
              Good
                Reason.
                Notwithstanding anything to the contrary contained herein, during
                the
                Protection Period, the Executive’s employment may be terminated by the
                Executive for Good Reason. For purposes of this Agreement, “Good Reason”
                means: 

            

    

     

    
      	(i)  	
              the
                assignment to the Executive of any duties inconsistent in any respect
                with
                the Executive’s position (including status, offices, titles and reporting
                requirements), authority, duties or responsibilities as contemplated
                by
                Section 4(a) of this Agreement, or any other action by the Company
                which
                results in a diminution in such position, authority, duties or
                responsibilities, excluding for this purpose an isolated, insubstantial
                and inadvertent action not taken in bad faith and which is remedied
                by the
                Company promptly after receipt of notice thereof given by the Executive;
                

            

    

     

    
      	(ii)  	
              any
                failure by the Company to comply with any of the provisions of Section
                4(b) of this Agreement, other than an isolated, insubstantial and
                inadvertent failure not occurring in bad faith and
                

            

    

    
       

      
        
          
          

        

        
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                which
                  is remedied by the Company promptly after receipt of notice thereof
                  given
                  by the Executive; 

              

      

       

    

    
      	(iii)  	
              the
                Company’s requiring the Executive to be based at any office or location
                other than that described in Section 4(a)(i)(B) hereof, except for
                travel
                reasonably required in the performance of the Executive’s
                responsibilities; 

            

    

     

    
      	(iv)  	
              any
                purported termination by the Company of the Executive’s employment
                otherwise than as expressly permitted by this Agreement; or
                

            

    

     

    
      	(v)  	
              any
                failure by the Company to comply with and satisfy Section 12(c) of
                this
                Agreement. 

            

    

     

    For
      purposes of this Section 5(c), any good faith determination of “Good Reason”
      made by the Executive shall be conclusive. Anything in this Agreement to the
      contrary notwithstanding, a termination by the Executive for any reason during
      the 30-day period immediately following the first anniversary of the Effective
      Date shall be deemed to be a termination for Good Reason for all purposes of
      this Agreement. 

    

    
      	(d)  	
              Notice
                of Termination.
                Any termination of the Executive’s employment by the Company for Cause or
                by the Executive for Good Reason shall be communicated by Notice
                of
                Termination to the other party hereto given in accordance with Section
                13(b) of this Agreement. For purposes of this Agreement, a “Notice of
                Termination” means a written notice which (i) indicates the specific
                termination provision in this Agreement relied upon, (ii) sets forth
                in
                reasonable detail the facts and circumstances claimed to provide
                a basis
                for termination of the Executive’s employment under the provision so
                indicated and (iii) if the Date of Termination (as defined below)
                is other
                than the date of receipt of such notice, specifies the termination
                date
                (which date shall be not more than fifteen (15) days after the giving
                of
                such notice). The failure by the Executive to set forth in the Notice
                of
                Termination any fact or circumstance which contributes to a showing
                of
                Good Reason shall not waive any right of the Executive hereunder
                or
                preclude the Executive from asserting such fact or circumstance in
                enforcing his rights hereunder. 

            

    

     

    
      	(e)  	
              Date
                of Termination.
                “Date of Termination” means the date of receipt of the Notice of
                Termination or any later date specified therein, as the case may
                be;
                provided,
                however,
                that (i) if the Executive’s employment is terminated by the Company other
                than for Cause or Disability, the Date of Termination shall be the
                date on
                which the Company notifies the Executive of such termination and
                (ii) if
                the Executive’s employment is terminated by reason of death or Disability,
                the Date of Termination shall 

            

    

    
       

      
        
          
          

        

        
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                be
                  the date of death of the Executive or the Disability Effective
                  Date, as
                  the case may be. 

              

      

       

    

    
      	6.  	
              Obligations
                of the Company upon Termination During the Protection
                Period.
                

            

    

     

    
      	(a)  	
              Death.
                If the Executive’s employment is terminated during the Protection Period
                by reason of the Executive’s death, this Agreement shall terminate without
                further obligations under this Agreement to the Executive’s
                representatives, other than those obligations accrued or earned and
                vested
                (if applicable) by the Executive as of the Date of Termination, including,
                for this purpose (i) the Executive’s full Base Salary through the Date of
                Termination at the rate in effect on the Date of Termination or,
                if
                higher, at the highest rate in effect at any time from the 90-day
                period
                preceding the Effective Date through the Date of Termination (the
“Highest
                Base Salary”), (ii) the product of the Annual Bonus paid to the Executive
                for the last full fiscal year and a fraction, the numerator of which
                is
                the number of days in the current fiscal year through the Date of
                Termination, and the denominator of which is 365 and (iii) any
                compensation previously deferred by the Executive (together with
                any
                accrued interest thereon) and not yet paid by the Company and any
                accrued
                vacation pay not yet paid by the Company (such amounts specified
                in
                clauses (i), (ii) and (iii) are hereinafter referred to as “Accrued
                Obligations”). All such Accrued Obligations shall be paid to the
                Executive’s estate or beneficiary, as applicable, in a lump sum in cash
                within 30 days of the Date of Termination. Anything in this Agreement
                to
                the contrary notwithstanding, the Executive’s family shall be entitled to
                receive benefits at least equal to the most favorable benefits provided
                by
                the Company and any of its subsidiaries to surviving families of
                executives of the Company and such subsidiaries under such plans,
                programs, practices and policies relating to family death benefits,
                if
                any, in accordance with the most favorable plans, programs, practices
                and
                policies of the Company and its subsidiaries in effect at any time
                during
                the 90-day period immediately preceding the Effective Date or, if
                more
                favorable to the Executive and/or the Executive’s family, as in effect on
                the date of the Executive’s death with respect to other key executives of
                the Company and its subsidiaries and their families.
                

            

    

     

    
      	(b)  	
              Disability.
                If the Executive’s employment is terminated during the Protection Period
                by reason of the Executive’s Disability, this Agreement shall terminate
                without further obligations to the Executive, other than those obligations
                accrued or earned and vested (if applicable) by the Executive as
                of the
                Date of Termination, including for this purpose, all Accrued Obligations.
                All such Accrued Obligations shall be paid to the Executive in a
                lump sum
                in cash within 30 days of the Date of Termination. Anything in this
                Agreement to the contrary notwithstanding, the Executive shall be
                entitled
                after the Disability Effective Date to receive disability and other
                benefits at least equal to the most favorable of 
                

            

    

    
       

      
        
          
          

        

        
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                those
                  provided by the Company and its subsidiaries to disabled executives
                  and/or
                  their families in accordance with such plans, programs, practices
                  and
                  policies relating to disability, if any, of the Company and its
                  subsidiaries in effect at any time during the 90-day period immediately
                  preceding the Effective Date or, if more favorable to the Executive
                  and/or
                  the Executive’s family, as in effect at any time thereafter with respect
                  to other key executives of the Company and its subsidiaries and
                  their
                  families. 

              

      

       

    

    
      	(c)  	
              Cause;
                Other than for Good Reason.
                If the Executive’s employment shall be terminated during the Protection
                Period for Cause, this Agreement shall terminate without further
                obligations to the Executive, other than the obligation to pay to
                the
                Executive the Highest Base Salary through the Date of Termination
                plus the
                amount of any compensation previously deferred by the Executive (together
                with accrued interest thereon). If the Executive terminates employment
                during the Protection Period other than for Good Reason (including
                by
                reason of retirement), this Agreement shall terminate without further
                obligations to the Executive, other than those obligations accrued
                or
                earned and vested (if applicable) by the Executive through the Date
                of
                Termination, including for this purpose, the Executive’s Base Salary
                through the Date of Termination at the rate in effect on the Date
                of
                Termination plus the amount of any compensation previously deferred
                by the
                Executive (together with accrued interest thereon). All such amounts
                under
                this Section 6(c) shall be paid to the Executive in a lump sum in
                cash
                within 30 days of the Date of
                Termination.

            

    

     

    
      	(d)  	
              Good
                Reason; Other than for Cause, Disability or Death.

            

    

     

    
      	(i)  	
              If,
                during the Protection Period, the Company shall terminate the Executive’s
                employment other than for Cause, Disability, or death or if the Executive
                shall terminate his employment for Good Reason, the Company shall
                pay to
                the Executive in a lump sum in cash within 30 days after the end
                of any
                revocation period contained in the Company’s standard release agreement
                (the “Release Agreement”) the aggregate of the following amounts:
                

            

    

     

    
      	(A)  	
              the
                Executive’s full base salary and vacation pay accrued (for vacation not
                taken) through the Date of Termination at the rate in effect at the
                time
                of the Date of Termination plus pro-rated incentive
                compensation under the Company’s annual incentive compensation plan
                through the Date of Termination at the same percentage rate (i.e.,
                percentage of the Executive’s previous year-end salary) applicable to the
                calendar year immediately prior to the Date of Termination, plus
                all other
                amounts to which the Executive is entitled under any compensation
                plan,
                program, practice or policy  

            

    

    
       

      
        
          
          

        

        
          10

          
            

          

        

        
          
          

        

      

       

      
        	 	
                of
                  the Company in effect at the time such payments are due; and
                  

              

      

       

    

    
      	(B)  	
              in
                the event any compensation has been previously deferred by the Executive,
                all amounts previously deferred (together with any accrued interest
                thereon) and not yet paid by the Company; and

            

    

     

    
      	(C)  	
              a
                lump sum severance payment in an amount equal to three times the
                Executive’s Base Salary. 

            

    

     

    
      	(ii)  	
              Notwithstanding
                the provisions of Section 6(d)(i), no payments shall be made under
                Section
                6(d)(i) if the Executive declines to sign and return the Release
                Agreement
                or revokes such Release Agreement within the time period provided
                therein.

            

    

     

    
      	7.  	
              Compliance
                with Section 409A of the Code.
                To the extent applicable, it is intended that this Agreement comply
                with
                the provisions of Section 409A of the Code. This 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 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 the Executive). In particular, to
                the
                extent the Executive becomes entitled to receive payment subject
                to
                Section 409A upon an event that does not constitute a permitted
                distribution event under Section 409A(a)(2) of the Code, then
                notwithstanding anything to the contrary in this Agreement, payment
                will
                be made to the Executive on the earlier of (a) the Executive’s
                “separation from service” with the Company (determined in accordance with
                Section 409A); provided,
                however,
                that if the Executive is a “specified employee” (within the meaning of
                Section 409A), the Executive’s date of payment shall be made on the
                date which is 6 months after the date of the Executive’s separation from
                service with the Company or (b) the Executive’s
                death.

            

    

     

    
      	8.  	
              Non-exclusivity
                of Rights.
                Nothing in this Agreement shall prevent or limit the Executive’s
                continuing or future participation in any benefit, bonus, incentive
                or
                other plans, programs, policies or practices, provided by the Company
                or
                any of its subsidiaries and for which the Executive may qualify,
                nor shall
                anything herein limit or otherwise affect such rights as the Executive
                may
                have under any stock option or other agreements with the Company
                or any of
                its subsidiaries. Amounts which are vested benefits or which the
                Executive
                is otherwise entitled to receive under any plan, policy, practice
                or
                program of the Company or any of its subsidiaries at or subsequent
                to the
                Date of Termination shall be payable in accordance with such plan,
                policy,
                practice or program. 

            

    

     

    
      	9.  	
              Full
                Settlement.
                Not later than the Effective Date, the Company will take appropriate
                steps, in form and substance satisfactory to the Executive, to ensure
                the
                Company’s financial ability to meet its financial obligations to the
                Executive 

            

    

    
       

      
        
          
          

        

        
          11

          
            

          

        

        
          
          

        

      

       

      
        	 	
                under
                  this Agreement through the escrowing of sufficient funds with a
                  financially sound and reputable escrow agent, the securing of a
                  letter of
                  credit in favor of the Executive from a financially sound and reputable
                  banking or financial institution, or other similar financial arrangement
                  with an independent entity. The Company’s obligation to make the payments
                  provided for in this Agreement and otherwise to perform its obligations
                  hereunder shall not be affected by any set-off, counterclaim, recoupment,
                  defense or other claim, right or action which the Company may have
                  against
                  the Executive or others. In no event shall the Executive be obligated
                  to
                  seek other employment or take any other action by way of mitigation
                  of the
                  amounts payable to the Executive under any of the provisions of
                  this
                  Agreement. The Company agrees to pay, to the full extent permitted
                  by law,
                  all legal fees and expenses which the Executive may reasonably
                  incur as a
                  result of any contest (regardless of the outcome thereof) by the
                  Company
                  or others of the validity or enforceability of, or liability under,
                  any
                  provision of this Agreement or any guarantee of performance thereof
                  (including as a result of any contest by the Executive about the
                  amount of
                  any payment pursuant to Section 10 of this Agreement), plus in
                  each case
                  interest at the applicable Federal rate provided for in Section
                  7872(f)(2)
                  of the Code. 

              

      

       

    

    
      	10.  	
              Reduction
                of Payments by the Company.
                

            

    

     

    
      	(a)  	
              Anything
                in this Agreement to the contrary notwithstanding, in the event it
                shall
                be determined that any payment or distribution by the Company 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)
                (a
                “Payment”) would be nondeductible by the Company for Federal income tax
                purposes because of Section 280G of the Code, then the amounts payable
                or
                distributable to or for the benefit of the Executive pursuant to
                this
                Agreement (such payments or distributions pursuant to this Agreement
                are
                hereinafter referred to as “Agreement Payments”) shall be reduced in such
                a way that their aggregate Present Value shall be equal to the Reduced
                Amount. The “Reduced Amount” shall be an amount expressed in Present Value
                which maximizes the aggregate present value of Agreement Payments
                without
                causing any Payment to be nondeductible by the Company because of
                Section
                280G of the Code. 

            

    

     

    
      	(b)  	
              All
                determinations required to be made under this Section 10 shall be
                made by
                an independent accounting firm selected by the Company (the “Accounting
                Firm”) which shall provide detailed supporting calculations both to the
                Company and the Executive within 15 business days of the Date of
                Termination or such earlier time as is requested by the Company and,
                if
                requested by the Executive, an opinion that he has substantial authority
                not to report any excise tax on his Federal income tax return with
                respect
                to the Agreement Payments. Any such determination by the Accounting
                Firm
                shall be binding upon the Company and the Executive. The Executive
                shall
                determine which and how much of the Agreement Payments shall be eliminated
                or reduced consistent with the requirements
                

            

    

    
       

      
        
          
          

        

        
          12

          
            

          

        

        
          
          

        

      

       

      
        	 	
                of
                  this Section 10, provided that, if the Executive does not make
                  such
                  determination within ten business days of the receipt of the calculations
                  made by the Accounting Firm, the Company shall elect which and
                  how much of
                  the Agreement Payments shall be eliminated or reduced consistent
                  with the
                  requirements of this Section 10 and shall notify the Executive
                  promptly of
                  such election. Within five business days thereafter, the Company
                  shall pay
                  to or distribute to or for the benefit of the Executive such amounts
                  as
                  are then due to the Executive under this Agreement.
                  

              

      

       

    

    
      	(c)  	
              As
                a result of the uncertainty in the application of Section 280G of
                the Code
                at the time of the initial determination by the Accounting Firm hereunder,
                it is possible that Agreement Payments will have been made by the
                Company
                which should not have been made (“Overpayment”) or that additional
                Agreement Payments which will not have been made by the Company could
                have
                been made (“Underpayment”), in each case, consistent with the calculations
                required to be made hereunder. In the event that the Accounting Firm,
                based upon the assertion of a deficiency by the Internal Revenue
                Service
                against the Executive which the Accounting Firm believes has a high
                probability of success determines that an Overpayment has been made,
                any
                such Overpayment paid or distributed by the Company to or for the
                benefit
                of the Executive shall be repaid by the Executive to the Company
                together
                with interest at the applicable Federal rate provided for in Section
                7872(f)(2) of the Code; provided,
                however,
                that no amount shall be payable by the Executive to the Company if
                and to
                the extent such deemed payment would not either reduce the amount
                on which
                the Executive is subject to tax under Section 1 and Section 4999
                of the
                Code or generate a refund of such taxes. In the event that the Accounting
                Firm, based upon controlling precedent or other substantial authority,
                determines that an Underpayment has occurred, any such Underpayment
                shall
                be promptly paid by the Company to or for the benefit of the Executive
                together with interest at the applicable Federal rate provided for
                in
                Section 7872(f)(2) of the Code.

            

    

     

    
      	11.  	
              Confidential
                Information.
                The Executive shall hold in a fiduciary capacity for the benefit
                of the
                Company all secret or confidential information, knowledge or data
                relating
                to the Company or any of its subsidiaries, and their respective
                businesses, which shall have been obtained by the Executive during
                the
                Executive’s employment by the Company or any of its subsidiaries and which
                shall not be or become public knowledge (other than by acts by the
                Executive or his representatives in violation of this Agreement).
                After
                termination of the Executive’s employment with the Company, the Executive
                shall not, without the prior written consent of the Company, communicate
                or divulge any such information, knowledge or data to anyone other
                than
                the Company and those designated by it. In no event shall an asserted
                violation of the provisions of this Section 11 constitute a basis
                for
                deferring or withholding any amounts otherwise payable to the Executive
                under this Agreement.

            

    

     

    
      
        
        

      

      
        13

        
          

        

      

      
        
        

      

    

     

    
      	12.  	
              Successors.
                

            

    

     

    
      	(a)  	
              This
                Agreement is personal to the Executive and without the prior written
                consent of the Company shall not be assignable by the Executive otherwise
                than by will or the laws of descent and distribution. This Agreement
                shall
                inure to the benefit of and be enforceable by the Executive’s legal
                representatives. 

            

    

     

    
      	(b)  	
              This
                Agreement shall inure to the benefit of and be binding upon the Company
                and its successors and assigns. 

            

    

     

    
      	(c)  	
              The
                Company will require any successor (whether direct or indirect, by
                purchase, merger, consolidation or otherwise) to all or substantially
                all
                of the business and/or assets of the Company to assume expressly
                and agree
                to perform this Agreement in the same manner and to the same extent
                that
                the Company would be required to perform it if no such succession
                had
                taken place. As used in this Agreement, “Company” shall mean the Company
                as hereinbefore defined and any successor to its business and/or
                assets as
                aforesaid which assumes and agrees to perform this Agreement by operation
                of law or otherwise.

            

    

     

    
      	13.  	
              Miscellaneous.

            

    

     

    
      	(a)  	
              This
                Agreement shall be governed by and construed in accordance with the
                laws
                of the State of Delaware, without reference to principles of conflict
                of
                laws. The captions of this Agreement are not part of the provisions
                hereof
                and shall have no force or effect. This Agreement may not be amended
                or
                modified otherwise than by a written agreement executed by the parties
                hereto or their respective successors and legal representatives.
                

            

    

     

    
      	(b)  	
              All
                notices and other communications hereunder shall be in writing and
                shall
                be given by hand delivery to the other party or by registered or
                certified
                mail, return receipt requested, postage prepaid, addressed as follows:
                

            

    

     

    If
      to
      the Executive:
      

    ___________________

    ___________________

    ___________________

     

    
      
        
        

      

      
        14

        
          

        

      

      
        
        

      

    

     

    If
      to
      the Company:
      

    Harsco
      Corporation 

    P.O.
      Box
      8888 

    Camp
      Hill, PA 17001-8888 

    Attention:
      President and Chief Operating Officer 

    

    or
      to
      such other address as either party shall have furnished to the other in writing
      in accordance herewith. Notice and communications shall be effective when
      actually received by the addressee. 

    

    
      	(c)  	
              The
                invalidity or unenforceability of any provision of this Agreement
                shall
                not affect the validity or enforceability of any other provision
                of this
                Agreement. 

            

    

     

    
      	(d)  	
              The
                Company may withhold from any amounts payable under this Agreement
                such
                Federal, state or local taxes as shall be required to be withheld
                pursuant
                to any applicable law or regulation.

            

    

     

    
      	(e)  	
              The
                Executive’s failure to insist upon strict compliance with any provision
                hereof shall not be deemed to be a waiver of such provision or any
                other
                provision thereof. 

            

    

     

    
      	(f)  	
              This
                Agreement contains the entire understanding of the Company and the
                Executive with respect to the subject matter hereof and supersedes
                any
                prior agreements relating to the subject matter hereof, including,
                without
                limitation, the Prior Agreement. Notwithstanding the preceding sentence,
                this Agreement does not supersede or override the provisions of any
                stock
                option, employee benefit or other plan, program, policy or practice
                in
                which Executive is a participant or under which the Executive is
                a
                beneficiary. 

            

    

     

    
      	(g)  	
              The
                Executive and the Company acknowledge that the employment of the
                Executive
                by the Company prior to the Effective Date is “at will”, and, prior to the
                Effective Date, may be terminated by either the Executive or the
                Company
                at any time. Upon a termination of the Executive’s employment or upon the
                Executive’s ceasing to be an officer of the Company, in each case, prior
                to the Effective Date, there shall be no further rights under this
                Agreement.

            

    

     

    
      
        
        

      

      
        15

        
          

        

      

      
        
        

        
        

      

    

    

    IN
      WITNESS WHEREOF, the Executive has hereunto set his hand and, pursuant to the
      authorization from its Board of Directors, the Company has caused these presents
      to be executed as of the day and year first above written. 

    

    
      
        	 	 	
                
EXECUTIVE  

	 	 	 
	 	 	 
	 	 	HARSCO
                CORPORATION 
	 	 
	 
 	 
 	 
 
	 	 	 
	 	
                
By:
	 	Title 

      

    

    

    

    Attest:

     

    
      
        

      

    

    SECRETARY

    

    

    
 

     

     

     

     

     

    
      
        
        

      

      
        16WWW.EXFILE.COM, INC. -- 13629 -- HARSCO CORPORATION -- EXHIBIT 10.1 TO FORM 8-K

    

      EXHIBIT
        10.2

       

      FORM
        OF 

      CHANGE
        IN CONTROL SEVERANCE AGREEMENT

      (Certain
        Harsco Vice Presidents)

      

      This
        AGREEMENT is by and between Harsco Corporation, a Delaware corporation
        (the “Company”), and _________________ (the “Executive”), dated as of the __ day
        of _______, 200__. 

      

      WHEREAS,
        the Company recognizes that the current business environment makes it difficult
        to attract and retain highly-qualified executives unless a certain degree
        of
        security can be offered to such executives against organizational and personnel
        changes which frequently follow Changes in Control (as defined below) of
        a
        corporation; and 

      

      WHEREAS,
        the Board of Directors recognizes the long and valued service which the
        Executive has provided as an officer of Harsco and considers the Executive
        to be
        an important resource which the Company desires to retain; and 

      

      WHEREAS,
        the Company desires to assure fair treatment of its key executives in the
        event
        of a Change in Control and to allow them to make critical career decisions
        without undue time pressure and financial uncertainty, thereby increasing
        their
        willingness to remain with the Company notwithstanding the outcome of a possible
        Change in Control transaction; and 

      

      WHEREAS,
        the Company recognizes that its key executives will be involved in evaluating
        or
        negotiating any offers, proposals, or other transactions which could result
        in
        Changes in Control of the Company and believes that it is in the best interests
        of the Company and its shareholders that such key executives be in a position,
        free from personal financial and employment considerations, to be able to
        assess
        objectively and pursue aggressively the interests of the Company’s shareholders
        in making these evaluations and carrying on such negotiations; and 

      

      WHEREAS,
        the Board of Directors (the “Board”) of the Company believes it is essential to
        provide the Executive with compensation arrangements upon a Change in Control
        which provide the Executive with individual financial security and which
        are
        competitive with those of other corporations, and in order to accomplish
        these
        objectives, the Board has caused the Company to enter into this
        Agreement;

      

      NOW
        THEREFORE, the parties, for good and valuable consideration and intending
        to be
        legally bound, agree as follows: 

      

      
        	1.  	
                Certain
                  Definitions.
                  

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        	(a)  	
                The
                  “Term of the Agreement” is the period commencing on the date hereof and
                  ending on the third anniversary of such date provided,
                  however,
                  that (i) commencing on the date one year after the date hereof,
                  and on
                  each annual anniversary of such date (such date and each annual
                  anniversary thereof is hereinafter referred to as the “Renewal Date”), the
                  Term of the Agreement shall be automatically extended so as to
                  terminate
                  three years from such Renewal Date, unless at least 60 days prior
                  to the
                  Renewal Date the Company shall give notice that the Term of the
                  Agreement
                  shall not be so extended; and (ii) if a Change in Control occurs
                  during
                  the Term of the Agreement, the Term of the Agreement will expire
                  on the
                  last day of the Protection Period (as defined herein); and (iii)
                  if, prior
                  to a Change in Control, the Executive ceases for any reason to
                  be an
                  officer of the Company, thereupon without action, the Term of the
                  Agreement shall be deemed to have expired and this Agreement will
                  immediately terminate and be of no further
                  effect.

              

      

       

      
        	(b)  	
                The
                  “Effective Date” shall be the first date during the “Term of the
                  Agreement” as defined in Section 1(a) on which a Change in Control occurs.
                  Anything in this Agreement to the contrary notwithstanding, if
                  the
                  Executive’s employment with the Company is terminated prior to the date on
                  which a Change in Control occurs, and it is reasonably demonstrated
                  that
                  such termination (1) was at the request of a third party who has
                  taken
                  steps reasonably calculated to effect a Change in Control or (2)
                  otherwise
                  arose in connection with or anticipation of a Change in Control,
                  then for
                  all purposes of this Agreement the “Effective Date” shall mean the date
                  immediately prior to the date of such termination.
                  

              

      

       

      
        	(c)  	
                A
                  reference herein to a section of the Internal Revenue Code of 1986,
                  as
                  amended (the “Code”) or a subsection thereof shall be construed to
                  incorporate reference to any section or subsection of the Code
                  enacted as
                  a successor thereto, any applicable proposed, temporary or final
                  regulations promulgated pursuant to such sections and any applicable
                  interpretation thereof by the Internal Revenue Service.
                  

              

      

       

      
        	(d)  	
                “Present
                  Value,” for purposes of this Agreement, shall be determined in accordance
                  with Section 280G(d) (4) of the Code as of the date specified for
                  such
                  determination, applying a discount rate, compounded no less frequently
                  than monthly, that is equivalent to the rate specified for such
                  determination. 

              

      

       

      
        	(e)  	
                A
                  reference herein to a section of the Securities Exchange Act of
                  1934 (the
                  “Exchange Act”) or any Rule promulgated thereunder shall be construed to
                  incorporate reference to any section of the Exchange Act or any
                  Rule
                  enacted or promulgated as a successor thereto.

              

      

       

      
        	2.  	
                Change
                  in Control.
                  For the purpose of this Agreement, a “Change in Control” shall mean:
                  

              

      

       

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

       

      
        	(a)  	
                The
                  acquisition (other than from the Company) by any person, entity
                  or
                  “group,” within the meaning of Section 13(d)(3) or 14(d)(2) of the
                  Exchange Act (a “Person”) (excluding,
                  for this purpose, the Company or its subsidiaries, or any employee
                  benefit
                  plan of the Company or its subsidiaries which acquires beneficial
                  ownership of voting securities of the Company) of beneficial ownership
                  (within the meaning of Rule 13d-3 promulgated under the Exchange
                  Act) of
                  20% or more of either the then outstanding shares of common stock
                  or the
                  combined voting power of the Company’s then outstanding voting securities
                  entitled to vote generally in the election of directors (the “Voting
                  Stock”); provided,
                  however,
                  that a Change in Control will not be deemed to have occurred if
                  a Person
                  becomes the beneficial owner of 20% or more of the Voting Stock
                  as a
                  result of a reduction in the number of shares of Voting Stock outstanding
                  pursuant to a transaction or series of transactions that is approved
                  by a
                  majority of the Incumbent Board (as defined below) unless and until
                  such
                  Person thereafter becomes the beneficial owner of any additional
                  shares of
                  Voting Stock of the Company representing 1% or more of the
                  then-outstanding Voting Stock of the Company, other than as a result
                  of a
                  stock dividend, stock split or similar transaction effected by
                  the Company
                  in which all holders of Voting Stock are treated equally; or
                  

              

      

       

      
        	(b)  	
                Individuals
                  who, as of the date hereof, constitute the Board (the “Incumbent Board”)
                  cease for any reason to constitute at least a majority of the Board,
                  provided that any person becoming a director subsequent to the
                  date hereof
                  whose election, or nomination for election by the Company’s stockholders,
                  or appointment, 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
                  and other than an election or nomination of an individual whose
                  initial
                  assumption of office is in connection with an actual or threatened
                  election contest relating to the election of the directors of the
                  Company,
                  as such terms are used in Rule 14a-11 of Regulation 14A promulgated
                  under
                  the Exchange Act) shall be, for purposes of this Agreement, considered
                  as
                  though such person were a member of the Incumbent Board; or
                  

              

      

       

      
        	(c)  	
                The
                  consummation of a reorganization, merger or consolidation, or sale
                  or
                  other disposition of all or substantially all of the assets of
                  the Company
                  or the acquisition of the stock or assets of another corporation
                  or other
                  transaction (each, a “Business Transaction”) with respect to which, in any
                  such case, the persons who were the stockholders of the Company
                  immediately prior to such Business Transaction do not, immediately
                  thereafter, own more than 50% of the combined voting power entitled
                  to
                  vote in the election of directors of the entity resulting from
                  such
                  Business Transaction; or 

              

      

       

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

       

      
        	(d)  	
                Approval
                  by the stockholders of the Company of a liquidation or dissolution
                  of the
                  Company or of the sale of all or substantially all the assets of
                  the
                  Company. 

              

      

       

      
        	3.  	
                Protection
                  Period.
                  The Company hereby agrees to continue the Executive in its employ,
                  and the
                  Executive hereby agrees to remain in the employ of the Company,
                  for the
                  period commencing on the Effective Date and ending on the earlier
                  to occur
                  of (a) the third anniversary of such date; or (b) the date that
                  this
                  Agreement otherwise terminates, as provided herein (the “Protection
                  Period”).

              

      

       

      
        	4.  	
                Terms
                  of Employment During Protection Period.
                  

              

      

       

      
        	(a)  	
                Position
                  and Duties.
                  

              

      

       

      
        	(i)  	
                During
                  the Protection Period, (A) the Executive’s position (including status,
                  offices, titles and reporting requirements), authority, duties
                  and
                  responsibilities shall be at least commensurate in all material
                  respects
                  with the most significant of those held, exercised and assigned
                  at any
                  time during the 90-day period immediately preceding the Effective
                  Date and
                  (B) the Executive’s services shall be performed at the location where the
                  Executive was employed immediately preceding the Effective Date
                  or any
                  office or location less than twenty-five (25) miles from such location.
                  

              

      

       

      
        	(ii)  	
                During
                  the Protection Period, and excluding any periods of vacation and
                  sick
                  leave to which the Executive is entitled, the Executive agrees
                  to devote
                  reasonable attention and time during normal business hours to the
                  business
                  and affairs of the Company and, to the extent necessary to discharge
                  the
                  responsibilities assigned to the Executive hereunder, to use the
                  Executive’s reasonable best efforts to perform faithfully and efficiently
                  such responsibilities. During the Protection Period it shall not
                  be a
                  violation of this Agreement for the Executive to (A) serve on corporate,
                  civic or charitable boards or committees, (B) deliver lectures,
                  fulfill
                  speaking engagements or teach at educational institutions and (C)
                  manage
                  personal investments, so long as such activities do not significantly
                  interfere with the performance of the Executive’s responsibilities as an
                  employee of the Company in accordance with this Agreement. It is
                  expressly
                  understood and agreed that to the extent that any such activities
                  have
                  been conducted by the Executive prior to the Effective Date, the
                  continued
                  conduct of such activities (or the conduct of activities similar
                  in nature
                  and scope thereto) subsequent to the Effective Date shall not thereafter
                  be deemed to interfere with the performance of the Executive’s
                  responsibilities to the Company. 

              

      

       

      
        
          
          

        

        
          4

          
            

          

        

        
          
          

        

      

       

      
        	(b)  	
                Compensation.
                  

              

      

       

      
        	(i)  	
                Base
                  Salary.
                  During the Protection Period, the Executive shall receive a base
                  salary
                  (“Base Salary”) at a monthly rate at least equal to the highest monthly
                  base salary paid or payable to the Executive by the Company during
                  the
                  twelve-month period immediately preceding the month in which the
                  Effective
                  Date occurs. During the Protection Period, the Base Salary shall
                  be
                  reviewed at least annually and shall be increased at any time and
                  from
                  time to time as shall be substantially consistent with increases
                  in base
                  salary awarded in the ordinary course of business to other key
                  executives
                  of the Company and its subsidiaries. Any increase in Base Salary
                  shall not
                  serve to limit or reduce any other obligation to the Executive
                  under this
                  Agreement. Base Salary shall not be reduced after any such increase.
                  

              

      

       

      
        	(ii)  	
                Annual
                  Bonus.
                  In addition to Base Salary, the Executive shall be awarded, for
                  each
                  fiscal year ending during the Protection Period, an annual bonus
                  (an
                  “Annual Bonus”) (either pursuant to the Incentive Compensation Plan of the
                  Company or otherwise) in cash at least equal to the average annual
                  cash
                  incentive payments received by the Executive from the Company and
                  its
                  subsidiaries in respect of the three fiscal years immediately preceding
                  the fiscal year in which the Effective Date occurs. Upon termination
                  of
                  the Protection Period, the Company shall pay the Executive an Annual
                  Bonus
                  for the year in which termination occurs, prorated to the end of
                  the
                  Protection Period. 

              

      

       

      
        	(iii)  	
                Incentive,
                  Savings and Retirement Plans.
                  In addition to Base Salary and Annual Bonus payable as hereinabove
                  provided, the Executive shall be entitled to participate during
                  the
                  Protection Period in all incentive, savings, pension, supplemental
                  executive retirement, and other retirement plans, deferred compensation
                  plans, stock option plans and other equity and long-term incentive
                  plans
                  and other plans, practices, policies and programs applicable to
                  other key
                  executives of the Company and its subsidiaries (including, without
                  limitation, the Company’s Incentive Compensation Plan, its Savings Plan
                  and its Supplemental Executive Retirement Plan), in each case providing
                  benefits which are the economic equivalent to those currently in
                  effect or
                  as subsequently amended. Such plans, practices, policies and programs,
                  in
                  the aggregate, shall provide the Executive with compensation, benefits
                  and
                  reward opportunities at least as favorable as the most favorable
                  of such
                  compensation, benefits and reward opportunities provided by the
                  Company
                  for the Executive under such plans, practices, policies and programs
                  as in
                  effect at any time during the 90-day period immediately preceding
                  the
                  

              

      

      
         

        
          
            
            

          

          
            5

            
              

            

          

          
            
            

          

        

         

        
          	 	
                  Effective
                    Date or, if more favorable to the Executive, as provided at any
                    time
                    thereafter with respect to other key executives of the Company
                    and its
                    subsidiaries. 

                

        

         

      

      
        	(iv)  	
                During
                  the Protection Period, the Executive and/or the Executive’s family, as the
                  case may be, shall be eligible for participation in, and shall
                  receive all
                  benefits under, welfare benefit plans, practices, policies and
                  programs
                  provided by the Company and its subsidiaries (including, without
                  limitation, medical, prescription, dental, disability, salary continuance,
                  employee life, group life, accidental death and travel accident
                  insurance
                  plans and programs), at least as favorable as the most favorable
                  of such
                  plans, practices, policies and programs in effect at any time during
                  the
                  90-day period immediately preceding the Effective Date or, if more
                  favorable to the Executive and/or the Executive’s family, as in effect at
                  any time thereafter with respect to other key executives of the
                  Company
                  and its subsidiaries. 

              

      

       

      
        	(v)  	
                Expenses.
                  During the Protection Period, the Executive shall be entitled to
                  an office
                  or offices of a size and with furnishings and other appointments,
                  and to
                  secretarial and other assistance, at least equal to the most favorable
                  of
                  the foregoing provided to the Executive by the Company and its
                  subsidiaries at any time during the 90-day period immediately preceding
                  the Effective Date or, if more favorable to the Executive, as provided
                  at
                  any time thereafter with respect to other key executives of the
                  Company
                  and its subsidiaries. 

              

      

       

      
        	(vi)  	
                Vacation.
                  During the Protection Period, the Executive shall be entitled to
                  paid
                  vacation and holidays in accordance with the most favorable plans,
                  policies, programs and practices of the Company and its subsidiaries
                  as in
                  effect at any time during the 90-day period immediately preceding
                  the
                  Effective Date or, if more favorable to the Executive, as in effect
                  at any
                  time thereafter with respect to other key executives of the Company
                  and
                  its subsidiaries. 

              

      

       

      
        	5.  	
                Certain
                  Terms Relating to Termination.

              

      

       

      
        	(a)  	
                Disability.
                  If the Company determines in good faith that the Disability of
                  the
                  Executive has occurred (pursuant to the definition of “Disability” set
                  forth below) during the Protection Period, it may give to the Executive
                  written notice of its intention to terminate the Executive’s employment.
                  In such event, the Executive’s employment with the Company shall terminate
                  effective on the 30th day after receipt of such notice by the Executive
                  (the “Disability Effective Date”), provided that, within the 30 days after
                  such receipt, the Executive shall not have returned to full-time
                  performance of

              

      

      
         

        
          
            
            

          

          
            6

            
              

            

          

          
            
            

          

        

         

        
          	 	
                  the
                    Executive’s duties. For purposes of this Agreement, “Disability” means
                    disability which, at least 26 weeks after its commencement, is
                    determined
                    to be total and permanent by a physician selected by the Company
                    or its
                    insurers and acceptable to the Executive or the Executive’s legal
                    representative (such agreement as to acceptability not to be
                    withheld
                    unreasonably).

                

        

         

      

      
        	(b)  	
                Cause.
                  During the Protection Period, the Company may terminate the Executive’s
                  employment for “Cause.” For purposes of this Agreement, “Cause” means (i)
                  an act or acts of personal dishonesty taken by the Executive and
                  intended
                  to result in substantial personal enrichment of the Executive at
                  the
                  expense of the Company, (ii) repeated violations by the Executive
                  of the
                  Executive’s obligations under Section 4(a) of this Agreement which are
                  demonstrably willful and deliberate on the Executive’s part and which are
                  not remedied in a reasonable period of time after receipt of written
                  notice from the Company or (iii) the conviction of the Executive
                  of a
                  felony. 

              

      

       

      
        	(c)  	
                Good
                  Reason.
                  Notwithstanding anything to the contrary contained herein, during
                  the
                  Protection Period, the Executive’s employment may be terminated by the
                  Executive for Good Reason. For purposes of this Agreement, “Good Reason”
                  means: 

              

      

       

      
        	(i)  	
                the
                  assignment to the Executive of any duties inconsistent in any respect
                  with
                  the Executive’s position (including status, offices, titles and reporting
                  requirements), authority, duties or responsibilities as contemplated
                  by
                  Section 4(a) of this Agreement, or any other action by the Company
                  which
                  results in a diminution in such position, authority, duties or
                  responsibilities, excluding for this purpose an isolated, insubstantial
                  and inadvertent action not taken in bad faith and which is remedied
                  by the
                  Company promptly after receipt of notice thereof given by the Executive;
                  

              

      

       

      
        	(ii)  	
                any
                  failure by the Company to comply with any of the provisions of
                  Section
                  4(b) of this Agreement, other than an isolated, insubstantial and
                  inadvertent failure not occurring in bad faith and which is remedied
                  by
                  the Company promptly after receipt of notice thereof given by the
                  Executive; 

              

      

       

      
        	(iii)  	
                the
                  Company’s requiring the Executive to be based at any office or location
                  other than that described in Section 4(a)(i)(B) hereof, except
                  for travel
                  reasonably required in the performance of the Executive’s
                  responsibilities; 

              

      

       

      
        	(iv)  	
                any
                  purported termination by the Company of the Executive’s employment
                  otherwise than as expressly permitted by this Agreement; or
                  

              

      

       

      
        
          
          

        

        
          7

          
            

          

        

        
          
          

        

      

       

      
        	(v)  	
                any
                  failure by the Company to comply with and satisfy Section 12(c)
                  of this
                  Agreement. 

              

      

       

      For
        purposes of this Section 5(c), any good faith determination of “Good Reason”
        made by the Executive shall be conclusive. Anything in this Agreement to
        the
        contrary notwithstanding, a termination by the Executive for any reason during
        the 30-day period immediately following the first anniversary of the Effective
        Date shall be deemed to be a termination for Good Reason for all purposes
        of
        this Agreement. 

      

      
        	(d)  	
                Notice
                  of Termination.
                  Any termination of the Executive’s employment by the Company for Cause or
                  by the Executive for Good Reason shall be communicated by Notice
                  of
                  Termination to the other party hereto given in accordance with
                  Section
                  13(b) of this Agreement. For purposes of this Agreement, a “Notice of
                  Termination” means a written notice which (i) indicates the specific
                  termination provision in this Agreement relied upon, (ii) sets
                  forth in
                  reasonable detail the facts and circumstances claimed to provide
                  a basis
                  for termination of the Executive’s employment under the provision so
                  indicated and (iii) if the Date of Termination (as defined below)
                  is other
                  than the date of receipt of such notice, specifies the termination
                  date
                  (which date shall be not more than fifteen (15) days after the
                  giving of
                  such notice). The failure by the Executive to set forth in the
                  Notice of
                  Termination any fact or circumstance which contributes to a showing
                  of
                  Good Reason shall not waive any right of the Executive hereunder
                  or
                  preclude the Executive from asserting such fact or circumstance
                  in
                  enforcing his rights hereunder. 

              

      

       

      
        	(e)  	
                Date
                  of Termination.
                  “Date of Termination” means the date of receipt of the Notice of
                  Termination or any later date specified therein, as the case may
                  be;
                  provided,
                  however,
                  that (i) if the Executive’s employment is terminated by the Company other
                  than for Cause or Disability, the Date of Termination shall be
                  the date on
                  which the Company notifies the Executive of such termination and
                  (ii) if
                  the Executive’s employment is terminated by reason of death or Disability,
                  the Date of Termination shall be the date of death of the Executive
                  or the
                  Disability Effective Date, as the case may be.

              

      

       

      
        	6.  	
                Obligations
                  of the Company upon Termination During the Protection
                  Period.
                  

              

      

       

      
        	(a)  	
                Death.
                  If the Executive’s employment is terminated during the Protection Period
                  by reason of the Executive’s death, this Agreement shall terminate without
                  further obligations under this Agreement to the Executive’s
                  representatives, other than those obligations accrued or earned
                  and vested
                  (if applicable) by the Executive as of the Date of Termination,
                  including,
                  for this purpose (i) the Executive’s full Base Salary through the Date of
                  Termination at the rate in effect on the Date of Termination or,
                  if
                  higher, at the highest rate in effect at any time from the 90-day
                  period
                  preceding 

              

      

      
         

        
          
            
            

          

          
            8

            
              

            

          

          
            
            

          

        

         

        
          	 	
                  the
                    Effective Date through the Date of Termination (the “Highest Base
                    Salary”), (ii) the product of the Annual Bonus paid to the Executive
                    for
                    the last full fiscal year and a fraction, the numerator of which
                    is the
                    number of days in the current fiscal year through the Date of
                    Termination,
                    and the denominator of which is 365 and (iii) any compensation
                    previously
                    deferred by the Executive (together with any accrued interest
                    thereon) and
                    not yet paid by the Company and any accrued vacation pay not
                    yet paid by
                    the Company (such amounts specified in clauses (i), (ii) and
                    (iii) are
                    hereinafter referred to as “Accrued Obligations”). All such Accrued
                    Obligations shall be paid to the Executive’s estate or beneficiary, as
                    applicable, in a lump sum in cash within 30 days of the Date
                    of
                    Termination. Anything in this Agreement to the contrary notwithstanding,
                    the Executive’s family shall be entitled to receive benefits at least
                    equal to the most favorable benefits provided by the Company
                    and any of
                    its subsidiaries to surviving families of executives of the Company
                    and
                    such subsidiaries under such plans, programs, practices and policies
                    relating to family death benefits, if any, in accordance with
                    the most
                    favorable plans, programs, practices and policies of the Company
                    and its
                    subsidiaries in effect at any time during the 90-day period immediately
                    preceding the Effective Date or, if more favorable to the Executive
                    and/or
                    the Executive’s family, as in effect on the date of the Executive’s death
                    with respect to other key executives of the Company and its subsidiaries
                    and their families. 

                

        

         

      

      
        	(b)  	
                Disability.
                  If the Executive’s employment is terminated during the Protection Period
                  by reason of the Executive’s Disability, this Agreement shall terminate
                  without further obligations to the Executive, other than those
                  obligations
                  accrued or earned and vested (if applicable) by the Executive as
                  of the
                  Date of Termination, including for this purpose, all Accrued Obligations.
                  All such Accrued Obligations shall be paid to the Executive in
                  a lump sum
                  in cash within 30 days of the Date of Termination. Anything in
                  this
                  Agreement to the contrary notwithstanding, the Executive shall
                  be entitled
                  after the Disability Effective Date to receive disability and other
                  benefits at least equal to the most favorable of those provided
                  by the
                  Company and its subsidiaries to disabled executives and/or their
                  families
                  in accordance with such plans, programs, practices and policies
                  relating
                  to disability, if any, of the Company and its subsidiaries in effect
                  at
                  any time during the 90-day period immediately preceding the Effective
                  Date
                  or, if more favorable to the Executive and/or the Executive’s family, as
                  in effect at any time thereafter with respect to other key executives
                  of
                  the Company and its subsidiaries and their families.
                  

              

      

       

      
        	(c)  	
                Cause;
                  Other than for Good Reason.
                  If the Executive’s employment shall be terminated during the Protection
                  Period for Cause, this Agreement shall terminate without further
                  obligations to the Executive, other than the obligation to pay
                  to the
                  Executive the Highest Base Salary through
                  the

              

      

      
         

        
          
            
            

          

          
            9

            
              

            

          

          
            
            

          

        

         

        
          	 	
                  Date
                    of Termination plus the amount of any compensation previously
                    deferred by
                    the Executive (together with accrued interest thereon). If the
                    Executive
                    terminates employment during the Protection Period other than
                    for Good
                    Reason (including by reason of retirement), this Agreement shall
                    terminate
                    without further obligations to the Executive, other than those
                    obligations
                    accrued or earned and vested (if applicable) by the Executive
                    through the
                    Date of Termination, including for this purpose, the Executive’s Base
                    Salary through the Date of Termination at the rate in effect
                    on the Date
                    of Termination plus the amount of any compensation previously
                    deferred by
                    the Executive (together with accrued interest thereon). All such
                    amounts
                    under this Section 6(c) shall be paid to the Executive in a lump
                    sum in
                    cash within 30 days of the Date of
                    Termination.

                

        

         

      

      
        	(d)  	
                Good
                  Reason; Other than for Cause, Disability or Death.

              

      

       

      
        	(i)  	
                If,
                  during the Protection Period, the Company shall terminate the Executive’s
                  employment other than for Cause, Disability, or death or if the
                  Executive
                  shall terminate his employment for Good Reason, the Company shall
                  pay to
                  the Executive in a lump sum in cash within 30 days after the end
                  of any
                  revocation period contained in the Company’s standard release agreement
                  (the “Release Agreement”) the aggregate of the following amounts:
                  

              

      

       

      
        	(A)  	
                the
                  Executive’s full base salary and vacation pay accrued (for vacation not
                  taken) through the Date of Termination at the rate in effect at
                  the time
                  of the Date of Termination plus pro-rated incentive
                  compensation under the Company’s annual incentive compensation plan
                  through the Date of Termination at the same percentage rate (i.e.,
                  percentage of the Executive’s previous year-end salary) applicable to the
                  calendar year immediately prior to the Date of Termination, plus
                  all other
                  amounts to which the Executive is entitled under any compensation
                  plan,
                  program, practice or policy of the Company in effect at the time
                  such
                  payments are due; and 

              

      

       

      
        	(B)  	
                in
                  the event any compensation has been previously deferred by the
                  Executive,
                  all amounts previously deferred (together with any accrued interest
                  thereon) and not yet paid by the Company; and

              

      

       

      
        	(C)  	
                a
                  lump sum severance payment in an amount equal to the Executive’s Base
                  Salary. 

              

      

       

      
        	(ii)  	
                Notwithstanding
                  the provisions of Section 6(d)(i), no payments shall be made under
                  Section
                  6(d)(i) if the Executive declines
                  to

              

      

      
         

        
          
            
            

          

          
            10

            
              

            

          

          
            
            

          

        

         

        
          	 	
                  sign
                    and return the Release Agreement or revokes such Release Agreement
                    within
                    the time period provided therein.

                

        

         

      

      
        	7.  	
                Compliance
                  with Section 409A of the Code.
                  To the extent applicable, it is intended that this Agreement comply
                  with
                  the provisions of Section 409A of the Code. This 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 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 the Executive). In particular, to
                  the
                  extent the Executive becomes entitled to receive payment subject
                  to
                  Section 409A upon an event that does not constitute a permitted
                  distribution event under Section 409A(a)(2) of the Code,
                  then
                  notwithstanding anything to the contrary in this Agreement, payment
                  will
                  be made to the Executive on the earlier of (a) the Executive’s
                  “separation from service” with the Company (determined in accordance with
                  Section 409A); provided,
                  however,
                  that if the Executive is a “specified employee” (within the meaning of
                  Section 409A), the Executive’s date of payment shall be made on the
                  date which is 6 months after the date of the Executive’s separation from
                  service with the Company or (b) the Executive’s
                  death.

              

      

       

      
        	8.  	
                Non-exclusivity
                  of Rights.
                  Nothing in this Agreement shall prevent or limit the Executive’s
                  continuing or future participation in any benefit, bonus, incentive
                  or
                  other plans, programs, policies or practices, provided by the Company
                  or
                  any of its subsidiaries and for which the Executive may qualify,
                  nor shall
                  anything herein limit or otherwise affect such rights as the Executive
                  may
                  have under any stock option or other agreements with the Company
                  or any of
                  its subsidiaries. Amounts which are vested benefits or which the
                  Executive
                  is otherwise entitled to receive under any plan, policy, practice
                  or
                  program of the Company or any of its subsidiaries at or subsequent
                  to the
                  Date of Termination shall be payable in accordance with such plan,
                  policy,
                  practice or program. 

              

      

       

      
        	9.  	
                Full
                  Settlement.
                  Not later than the Effective Date, the Company will take appropriate
                  steps, in form and substance satisfactory to the Executive, to
                  ensure the
                  Company’s financial ability to meet its financial obligations to the
                  Executive under this Agreement through the escrowing of sufficient
                  funds
                  with a financially sound and reputable escrow agent, the securing
                  of a
                  letter of credit in favor of the Executive from a financially sound
                  and
                  reputable banking or financial institution, or other similar financial
                  arrangement with an independent entity. The Company’s obligation to make
                  the payments provided for in this Agreement and otherwise to perform
                  its
                  obligations hereunder shall not be affected by any set-off, counterclaim,
                  recoupment, defense or other claim, right or action which the Company
                  may
                  have against the Executive or others. In no event shall the Executive
                  be
                  obligated to seek other employment or take any other action by
                  way of
                  mitigation of the amounts payable to the Executive under any of
                  the
                  provisions of this Agreement. The Company agrees to pay, to the
                  full
                  extent permitted by law, all legal fees and expenses which the
                  Executive
                  may reasonably incur as a 

              

      

      
         

        
          
            
            

          

          
            11

            
              

            

          

          
            
            

          

        

         

        
          	 	
                  result
                    of any contest (regardless of the outcome thereof) by the Company
                    or
                    others of the validity or enforceability of, or liability under,
                    any
                    provision of this Agreement or any guarantee of performance thereof
                    (including as a result of any contest by the Executive about
                    the amount of
                    any payment pursuant to Section 10 of this Agreement), plus in
                    each case
                    interest at the applicable Federal rate provided for in Section
                    7872(f)(2)
                    of the Code. 

                

        

         

      

      
        	10.  	
                Reduction
                  of Payments by the Company.
                  

              

      

       

      
        	(a)  	
                Anything
                  in this Agreement to the contrary notwithstanding, in the event
                  it shall
                  be determined that any payment or distribution by the Company 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)
                  (a
                  “Payment”) would be nondeductible by the Company for Federal income tax
                  purposes because of Section 280G of the Code, then the amounts
                  payable or
                  distributable to or for the benefit of the Executive pursuant to
                  this
                  Agreement (such payments or distributions pursuant to this Agreement
                  are
                  hereinafter referred to as “Agreement Payments”) shall be reduced in such
                  a way that their aggregate Present Value shall be equal to the
                  Reduced
                  Amount. The “Reduced Amount” shall be an amount expressed in Present Value
                  which maximizes the aggregate present value of Agreement Payments
                  without
                  causing any Payment to be nondeductible by the Company because
                  of Section
                  280G of the Code. 

              

      

       

      
        	(b)  	
                All
                  determinations required to be made under this Section 10 shall
                  be made by
                  an independent accounting firm selected by the Company (the “Accounting
                  Firm”) which shall provide detailed supporting calculations both to
                  the
                  Company and the Executive within 15 business days of the Date of
                  Termination or such earlier time as is requested by the Company
                  and, if
                  requested by the Executive, an opinion that he has substantial
                  authority
                  not to report any excise tax on his Federal income tax return with
                  respect
                  to the Agreement Payments. Any such determination by the Accounting
                  Firm
                  shall be binding upon the Company and the Executive. The Executive
                  shall
                  determine which and how much of the Agreement Payments shall be
                  eliminated
                  or reduced consistent with the requirements of this Section 10,
                  provided
                  that, if the Executive does not make such determination within
                  ten
                  business days of the receipt of the calculations made by the Accounting
                  Firm, the Company shall elect which and how much of the Agreement
                  Payments
                  shall be eliminated or reduced consistent with the requirements
                  of this
                  Section 10 and shall notify the Executive promptly of such election.
                  Within five business days thereafter, the Company shall pay to
                  or
                  distribute to or for the benefit of the Executive such amounts
                  as are then
                  due to the Executive under this Agreement.

              

      

       

      
        	(c)  	
                As
                  a result of the uncertainty in the application of Section 280G
                  of the Code
                  at the time of the initial determination by the Accounting
                  Firm

              

      

      
         

        
          
            
            

          

          
            12

            
              

            

          

          
            
            

          

        

         

        
          	 	
                  hereunder,
                    it is possible that Agreement Payments will have been made by
                    the Company
                    which should not have been made (“Overpayment”) or that additional
                    Agreement Payments which will not have been made by the Company
                    could have
                    been made (“Underpayment”), in each case, consistent with the calculations
                    required to be made hereunder. In the event that the Accounting
                    Firm,
                    based upon the assertion of a deficiency by the Internal Revenue
                    Service
                    against the Executive which the Accounting Firm believes has
                    a high
                    probability of success determines that an Overpayment has been
                    made, any
                    such Overpayment paid or distributed by the Company to or for
                    the benefit
                    of the Executive shall be repaid by the Executive to the Company
                    together
                    with interest at the applicable Federal rate provided for in
                    Section
                    7872(f)(2) of the Code; provided,
                    however,
                    that no amount shall be payable by the Executive to the Company
                    if and to
                    the extent such deemed payment would not either reduce the amount
                    on which
                    the Executive is subject to tax under Section 1 and Section 4999
                    of the
                    Code or generate a refund of such taxes. In the event that the
                    Accounting
                    Firm, based upon controlling precedent or other substantial authority,
                    determines that an Underpayment has occurred, any such Underpayment
                    shall
                    be promptly paid by the Company to or for the benefit of the
                    Executive
                    together with interest at the applicable Federal rate provided
                    for in
                    Section 7872(f)(2) of the Code.

                

        

         

      

      
        	11.  	
                Confidential
                  Information.
                  The Executive shall hold in a fiduciary capacity for the benefit
                  of the
                  Company all secret or confidential information, knowledge or data
                  relating
                  to the Company or any of its subsidiaries, and their respective
                  businesses, which shall have been obtained by the Executive during
                  the
                  Executive’s employment by the Company or any of its subsidiaries and which
                  shall not be or become public knowledge (other than by acts by
                  the
                  Executive or his representatives in violation of this Agreement).
                  After
                  termination of the Executive’s employment with the Company, the Executive
                  shall not, without the prior written consent of the Company, communicate
                  or divulge any such information, knowledge or data to anyone other
                  than
                  the Company and those designated by it. In no event shall an asserted
                  violation of the provisions of this Section 11 constitute a basis
                  for
                  deferring or withholding any amounts otherwise payable to the Executive
                  under this Agreement.

              

      

       

      
        	12.  	
                Successors.
                  

              

      

       

      
        	(a)  	
                This
                  Agreement is personal to the Executive and without the prior written
                  consent of the Company shall not be assignable by the Executive
                  otherwise
                  than by will or the laws of descent and distribution. This Agreement
                  shall
                  inure to the benefit of and be enforceable by the Executive’s legal
                  representatives. 

              

      

       

      
        	(b)  	
                This
                  Agreement shall inure to the benefit of and be binding upon the
                  Company
                  and its successors and assigns. 

              

      

       

      
        
          
          

        

        
          13

          
            

          

        

        
          
          

        

      

       

      
        	(c)  	
                The
                  Company will require any successor (whether direct or indirect,
                  by
                  purchase, merger, consolidation or otherwise) to all or substantially
                  all
                  of the business and/or assets of the Company to assume expressly
                  and agree
                  to perform this Agreement in the same manner and to the same extent
                  that
                  the Company would be required to perform it if no such succession
                  had
                  taken place. As used in this Agreement, “Company” shall mean the Company
                  as hereinbefore defined and any successor to its business and/or
                  assets as
                  aforesaid which assumes and agrees to perform this Agreement by
                  operation
                  of law or otherwise.

              

      

       

      
        	13.  	
                Miscellaneous.

              

      

       

      
        	(a)  	
                This
                  Agreement shall be governed by and construed in accordance with
                  the laws
                  of the State of Delaware, without reference to principles of conflict
                  of
                  laws. The captions of this Agreement are not part of the provisions
                  hereof
                  and shall have no force or effect. This Agreement may not be amended
                  or
                  modified otherwise than by a written agreement executed by the
                  parties
                  hereto or their respective successors and legal representatives.
                  

              

      

       

      
        	(b)  	
                All
                  notices and other communications hereunder shall be in writing
                  and shall
                  be given by hand delivery to the other party or by registered or
                  certified
                  mail, return receipt requested, postage prepaid, addressed as follows:
                  

              

      

       

      If
        to
        the Executive:
        

      ___________________

      ___________________

      ___________________

       

      If
        to
        the Company:
        

      Harsco
        Corporation 

      P.O.
        Box
        8888 

      Camp
        Hill, PA 17001-8888 

      Attention:
        President and Chief Operating Officer 

      

      or
        to
        such other address as either party shall have furnished to the other in writing
        in accordance herewith. Notice and communications shall be effective when
        actually received by the addressee. 

      

      
        	(c)  	
                The
                  invalidity or unenforceability of any provision of this Agreement
                  shall
                  not affect the validity or enforceability of any other provision
                  of this
                  Agreement. 

              

      

       

      
        
          
          

        

        
          14

          
            

          

        

        
          
          

        

      

       

      
        	(d)  	
                The
                  Company may withhold from any amounts payable under this Agreement
                  such
                  Federal, state or local taxes as shall be required to be withheld
                  pursuant
                  to any applicable law or regulation.

              

      

       

      
        	(e)  	
                The
                  Executive’s failure to insist upon strict compliance with any provision
                  hereof shall not be deemed to be a waiver of such provision or
                  any other
                  provision thereof. 

              

      

       

      
        	(f)  	
                This
                  Agreement contains the entire understanding of the Company and
                  the
                  Executive with respect to the subject matter hereof and supersedes
                  any
                  prior agreements relating to the subject matter hereof. Notwithstanding
                  the preceding sentence, this Agreement does not supersede or override
                  the
                  provisions of any stock option, employee benefit or other plan,
                  program,
                  policy or practice in which Executive is a participant or under
                  which the
                  Executive is a beneficiary. 

              

      

       

      
        	(g)  	
                The
                  Executive and the Company acknowledge that the employment of the
                  Executive
                  by the Company prior to the Effective Date is “at will”, and, prior to the
                  Effective Date, may be terminated by either the Executive or the
                  Company
                  at any time. Upon a termination of the Executive’s employment or upon the
                  Executive’s ceasing to be an officer of the Company, in each case, prior
                  to the Effective Date, there shall be no further rights under this
                  Agreement.

              

      

       

      
        
          
          

        

        
          15

          
            

          

        

        
          
          

          
          

        

      

      

      IN
        WITNESS WHEREOF, the Executive has hereunto set his hand and, pursuant to
        the
        authorization from its Board of Directors, the Company has caused these presents
        to be executed as of the day and year first above written. 

      

      
        

        
          
            	 	 	
                    
EXECUTIVE  

	 	 	 
	 	 	 
	 	 	HARSCO
                    CORPORATION 
	 	 
	 
 	 
 	 
 
	 	 	 
	 	
                    
By:
	 	Title 

          

        

        

        

        Attest:

         

        
          
            

          

        

        SECRETARY

       

       

       

       

      
        
           

        

        
          16

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