Document:

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                                                                   Exhibit 10.16

                                   AGREEMENT

     METALLURG, INC. ("MI") and ROBIN A. BRUMWELL ("RAB") hereby agree, for
good and valuable consideration, the receipt and sufficiency of which are
acknowledged to the following terms and conditions in connection with the
termination of RAB's employment with MI:

     1)  MI shall purchase an annuity in lieu of any other obligation MI may
         have had with respect to continuing accrual of service in MI's pension
         plan. The annuity shall provide a monthly benefit of $344 commencing
         August 1, 2009 and continuing for your life with a certain term of ten
         years payable to your named beneficiary in the event of your death
         prior to July 31, 2019. In the event of your death prior to August 1,
         2009 a lump sum settlement (approximately $25,000) would be paid to
         your named beneficiary.

     2)  MI shall continue to pay RAB a monthly salary (subject to all of the
         usual withholdings and deductions) at your current rate through
         December 31, 1999.

     3)  Effective January 1, 2000, MI shall make a lump sum payment to RAB of
         all salary that would be due to him from January 1, 2000 through
         October 31, 2000 ($216,667), subject to all required withholdings and
         deductions (net after tax payment of $113,040). RAB shall thereupon
         release MI from any continuing obligation to make monthly salary
         payments to him. The net after tax payment shall be applied against the
         principal balance of, and all accrued and unpaid interest on, three tax
         loans (total: $152,321) made to RAB in 1997 and 1998. The balance
         remaining under said loans ($39,281) shall be forgiven by MI in
         consideration for RAB's release herein and other agreements set forth
         in this document and shall, as required, be reported on Form 1099 for
         the year 2000.

     4)  MI shall assign and transfer to RAB all right, title and interest in
         and to your current company automobile and RAB shall thereafter be
         responsible for insuring said vehicle. RAB acknowledges that there will
         be a benefit in kind of $2,000 reflected in your compensation for tax
         purposes in connection with this transfer.

     5)  MI shall not make any further payments to, or on behalf of, RAB in
         connection with any club memberships, tax preparation or advice.

     6)  MI shall make a payment to RAB in the amount of $7,400 corresponding to
         9/12 of the 15,000 Swiss francs annual fee for service during the
         period August 1998 to April 1999 as a director of FAG.
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     7)   MI shall pay RAB $7,222 for all accrued and unused vacation time
          through April 30, 1999.

     8)   RAB's participation in MI's medical, dental and life insurance plans
          will continue as set forth in the Employment Agreement between RAB
          and MI, dated November 19, 1998 (the "Employment Agreement").

     9)   RAB's restriction against competition shall continue as set forth in
          the Employment Agreement.

     10)  With the exception of the matters set forth in paragraphs 1 through 7
          above, all of the terms and conditions in the Employment Agreement
          shall remain in full force and effect.

     11)  RAB acknowledges and agrees that other than as set forth in this
          Agreement, MI does not owe RAB any other amounts as salary, benefits
          or reimbursements.

     IN WITNESS WHEREOF, the parties have executed this Agreement as of July 2,
1999.

                                        METALLURG, INC.

                                        By: /s/ Alan D. Ewart
                                           ----------------------
                                              Alan D. Ewart
                                            President and CEO

                                            /s/ Robin A. Brumwell
                                           ----------------------
                                            Robin A. Brumwell<PAGE>   1
                                                                   Exhibit 10.17

                               ADVISORY AGREEMENT

     ADVISORY AGREEMENT (the "Agreement") dated as of January 1, 1999, by and
between Metallurg, Inc. ("MI"), a Delaware corporation with an office at 6 East
43rd Street, New York, New York 10017, and Safeguard International Management
LLC ("Safeguard"), a Delaware limited liability company with an office at 800
The Safeguard Building, 435 Devon Park Drive, Wayne, Pennsylvania 19089.

     WHEREAS, Safeguard has provided certain services to MI in connection with
the structuring and consummation of the transactions provided for under that
certain Agreement and Plan of Merger dated as of June 15, 1998 (the "Merger
Agreement") by and among Metallurg Holdings, Inc., MI and Metallurg Acquisition
Corp., a Delaware corporation.

     WHEREAS, Safeguard has continued to provide certain advisory and other
services to MI after the consummation of the transactions contemplated by the
Merger Agreement with respect to MI's structure, its operations and other
matters;

     WHEREAS, Safeguard has incurred certain expenses with respect to the
provision of such services including but not limited to costs incurred by
Safeguard with respect to Safeguard employees being assigned to MI.

     NOW, THEREFORE, in consideration of the premises and the mutual agreements
herein contained, the parties agree as follows:

     1.  Responsibility of Safeguard

     Safeguard shall provide to MI certain information and services related to
MI's business and affairs as required. Such information and services shall
include, without limitation, evaluation and interpretation of financial and
industry data, preparation of reports concerning financial and structuring
strategies and alternatives, strategic planning, identification of acquisition
candidates, assistance in obtaining financing, assistance in arranging credit
facilities and loans from banks, introduction to capital sources and provision
of Safeguard employees to MI as required.

     2.  Advisory Fee; Expenses

     In consideration of the benefits and services MI has received to date and
shall receive hereunder, during the term hereof, MI shall pay to Safeguard, an
advisory fee (the "Advisory Fee") of $33,000 per month payable within five
business days after the end of each month, commencing January 1, 1999.

     3.  Term

     This Agreement shall commence on the date first above written and shall
terminate on June 30, 2000; provided, however, that such termination shall not
relieve MI of its obligation to pay any fees which had accrued but not yet been
paid to Safeguard prior to such termination.
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     4.   Notices

     Notice to be given to the parties hereunder shall be in writing and shall
be deemed given upon personal delivery to an officer of a party or two business
days after being mailed, postage prepaid, by United States certified mail,
return receipt requested to the address of the respective parties set forth on
the first page hereof. Either party hereto may designate a new address at any
time by notifying the other party in the manner set forth above.

     5.   Modification

     This Agreement contains the entire agreement of the parties with respect
to the subject matter hereof. Any change, modification, amendment or alteration
to this Agreement shall be effected only in writing and signed by the party or
parties against whom enforcement of any such change, modification, amendment or
alteration is sought.

     6.   Nonwaiver

     The failure of any party hereto, at any time, to require performance by
any party hereto of any provision hereof, shall in no way affect the right of
such failing party hereafter to enforce such provision nor shall any waiver by
any party of any breach of any provisions hereof be taken or held to be a
waiver of any succeeding breach of such provision or as a waiver of the
provision itself.

     7.   Severability

     If any provision or provisions of this Agreement is held to be invalid or
unenforceable, such provision shall be automatically reformed and construed so
as to be valid, operative and enforceable to the maximum extent permitted by
law or equity while most nearly preserving its original intent. The invalidity
of any part of this Agreement shall not render invalid the remaining provisions
of this Agreement and, to that extent, the provisions of this Agreement shall
be deemed to be severable.

     8.   Headings

     The headings of this Agreement are inserted for convenience only and shall
not be considered in construction of the provisions hereof.

     9.   Assignment and Successors; Binding Effect, etc.

     The rights and obligations of Safeguard and MI under this Agreement shall
inure to the benefit of and shall be binding upon the successors of
Safeguard and MI and may not be assigned or delegated without the prior written
consent of the other party hereto, and any such purported assignment or
delegation shall be null and void.

     10.  Governing Law

     The terms of this Agreement shall be governed by and construed in
accordance with the laws of the State of New York without regard to principles
of conflicts of law.

     11.  Counterparts

     This Agreement may be executed in counterparts, each of which shall be
deemed an original, but all of which together shall constitute one and the same
instrument.

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     IN WITNESS WHEREOF, the parties hereto have executed this Agreement on
December 22, 1999 effective as of January 1, 1999.

                                        Metallurg Inc.

                                        By: /s/ Barry C. Nuss
                                           ----------------------------------
                                           Name: Barry C. Nuss
                                           Title: Vice President, Finance and
                                                  Chief Financial Officer

                                        Safeguard International Management, LLC

                                        By: /s/ Arthur Spector
                                           ----------------------------------
                                           Name: Arthur Spector
                                           Title:

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