Document:

HTA_-_Employment_Agreement_-_AmandaHoughton

EMPLOYMENT AGREEMENT
This EMPLOYMENT AGREEMENT (this “Agreement”) is entered into and effective as of the 24th day of March, 2011 (the “Effective Date”), by and between Healthcare Trust of America, Inc., a Maryland corporation (the “Company”), and Amanda Houghton (the “Employee”). 
WHEREAS, the parties had previously entered into that initial independent contractor agreement (the “Initial Agreement”) which set forth the initial compensation package of the Employee with the Company;
WHEREAS, the parties hereto wish to supersede and replace the Initial Agreement and enter into the arrangements set forth herein with respect to the terms and conditions of the Employee’s continued employment with the Company from and after the “Effective Date” (as defined herein);
NOW, THEREFORE, in consideration of the mutual covenants and agreements set forth herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
SECTION 1 
EMPLOYMENT AGREEMENT
This Agreement shall supersede and replace the Initial Agreement, which shall be of no further force and effect as of the Effective Date.  Subject to the terms and conditions set forth in this Agreement, the Company agrees to employ the Employee, and the Employee agrees to be employed by the Company, for the Employment Period defined herein.  Terms used herein with initial capitalization are defined in Section 10.
SECTION 2 
TERM
The term of the Employee’s employment hereunder in the position referenced under Section 3 will begin as of the Effective Date and will conclude on the second anniversary of the Effective Date (the “Original Term”) subject to earlier termination as provided in Section 7 herein.  At the sole discretion of the Company, the Agreement may be extended for an additional one (1) year term (the “Renewal Term”), by Company providing the Employee with written notice of such extension at least one-hundred eighty (180) days prior to the expiration of the Original Term.
The Original Term and any Renewal Term, in their full duration, are herein referred to as the “Employment Terms.”  The period of the Employee’s employment under this Agreement consisting of the Original Term and any Renewal Term, except as may be terminated early pursuant to Section 7, is herein referred to as the “Employment Period.”
SECTION 3 
POSITION AND DUTIES
The Employee will serve as a Senior Vice President – Asset Management & Finance for the Company during the Employment Period.  The title of Employee can be reasonably adjusted by the 

Company.  The Employee will render finance and asset management services to the Company as reasonably determined by the Board and Chief Executive Officer of the Company (the “CEO”).  The Company shall provide the Employee with necessary authority and resources to discharge the Employee’s responsibilities under laws and regulations applicable to the Company and Employee.
The Employee will report to the CEO,  and Chief Financial Officer of the Company (“CFO”). The Employee will devote the Employee’s best efforts and full business time to the performance of the Employee’s duties hereunder and the advancement of the business and affairs of the Company during the Employment Period.  
SECTION 4 
PLACE OF PERFORMANCE
During the Employment Period, the Employee’s primary place of employment and work location will be Scottsdale, Arizona, except for reasonable travel on Company business and as otherwise reasonably requested by the CEO and CFO. 
SECTION 5 
COMPENSATION
Base Salary
During the Employment Period, the Company will pay to the Employee an annual base salary (the “Base Salary”), which initially will be One Hundred Sixty-Five Thousand Dollars ($165,000.00).  The Base Salary will be reviewed by the Compensation Committee of the Board (the “Compensation Committee”) no less frequently than annually and may be increased or decreased at the sole discretion of the Compensation Committee.  If the Employee’s Base Salary is increased, the increased amount will be the Base Salary for the remainder of the Employment Period.  The Base Salary will be payable semi-monthly or in such other installments as will be consistent with the Company’s payroll procedures in effect from time to time.
Bonus
During the Employment Period, the Employee will be eligible to earn an annual performance bonus in an amount determined at the sole discretion of the Compensation Committee for each year.  It is the intention of the parties hereto that the Company shall establish  bonus parameters for the Employee with respect to each fiscal year of the Employment Period. Employee acknowledges and agrees that her annual bonus is not guaranteed at any level.  Rather it is to be determined solely by the Compensation Committee, in its sole discretion. The Compensation Committee will establish the performance goals and objectives on which the annual bonus will be based.  The Employee’s initial full year annual target bonus will be up to 50% of the Base Salary (pro-rata for the time worked in the fiscal year).  In the event that a target bonus is not established with respect to any subsequent fiscal year, the Employee’s target bonus shall be deemed to be the target bonus established under this Agreement for the immediately preceding year.
Benefits
During the Employment Period, the Employee will be entitled to all employee benefits and perquisites in accordance with the Company’s benefit plan summary, including, without limitation, 

group medical, dental, vision, life insurance, long-term disability insurance, retirement, pension, 401(k) savings plans and/or prescription drug plan coverage, subject to the condition that the Employee is eligible for participation in any such plans.  The Company shall pay 100% of the premium cost of the Company’s health insurance coverage provided to the Employee (and the Employee’s dependants, if applicable) by the Company from time to time.  Nothing contained in this Agreement will prevent the Company from terminating plans, changing carriers or effecting modifications in employee benefits coverage for the Employee as long as such modifications affect all similarly situated employees of the Company. 
Vacation; Holidays
During the Employment Period, the Employee will be entitled to all public holidays observed by the Company and vacation days in accordance with the applicable vacation policies for similarly situated employees of the Company, which vacation days will be taken at a reasonable time or times. The Employee will initially be entitled to three (3) weeks vacation per year, and accrual of vacation time is capped at a maximum of three (3) weeks. The Company may, at its sole discretion, pay Employee for unused vacation hours at the Employee’s effective base pay rate.
Directors and Officers Insurance and Indemnification
The Company shall maintain insurance to insure the Employee against claims arising out of an alleged wrongful act by the Employee while acting in good faith as an officer of the Company or one of its subsidiaries.  The Company shall further indemnify and exculpate the Employee from money damages incurred as a result of claims arising out of an alleged wrongful act by the Employee while acting in good faith as an officer or employee of the Company, or of its subsidiaries, to the fullest extent permitted under applicable law.
Withholding Taxes and Other Deductions
To the extent required by law, the Company will withhold from any payments due to the Employee under this Agreement any applicable federal, state or local taxes and such other deductions as are prescribed by law or authorized by the Employee.  
SECTION 6 
EXPENSES
During the Employment Period, the Employee is expected and is authorized, subject to the business expense policies as determined by the Company, to incur reasonable expenses in the performance of the Employee’s duties hereunder, including the costs of entertainment, travel, and similar business expenses.  During the Employment Period, the Company will promptly reimburse the Employee for all such expenses upon periodic presentation by the Employee of an accounting of such expenses on terms applicable to similarly situated employees of the Company.  
SECTION 7 
TERMINATION OF EMPLOYMENT
Any termination of the Employee’s employment by the Company or by the Employee will be communicated by written Notice of Termination to the other party hereto in accordance with Section 10.  For purposes of this Agreement, a “Notice of Termination” will mean a notice which 

will indicate the specific termination provision in this Agreement relied upon, if any, and will set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Employment Period under the provision so indicated.  Termination of the Employment Period will take effect on the Date of Termination.  The Employment Period will be terminated under the following circumstances:
Death
The Employee’s employment will terminate upon the Employee’s death.
By the Company
The Company may terminate the Employee’s employment:
(i) if the Employee will have been unable to perform, in the opinion of a competent physician selected by the Board, any or all of the Employee’s duties hereunder, either with or without reasonable accommodation, by reason of illness, physical or mental disability or other similar incapacity, which inability will continue for more than three consecutive months, or any six months in a twelve-month period (a “Disability”); or 
(ii) with or without Cause.
By the Employee
The Employee may terminate her employment at any time for Good Reason or without Good Reason.
Return of Information
The Employee agrees to deliver to the Company at the termination of the Employee’s employment all records, files, software, software code, memoranda, reports, customer lists, drawings, plans, sketches, documents, technical information, contracts, sales or marketing materials, personnel information, financial information, and the like (together with all copies of such documents and things) relating to the business of the Company and its Affiliates and their predecessors which the Employee may then possess or have under the Employee’s control.
SECTION 8 
COMPENSATION UPON TERMINATION
The Employee’s employment must be terminated during the Employment Period in order for the Employee to receive any payment or other benefit under this Section 8.
Death; Disability; By the Company for Cause; By the Employee Without Good Reason
If the Employee’s employment terminates during the Employment Period (i) as a result of the Employee’s death or Disability or (ii) by the Company for Cause or by the Employee Without Good Reason, then the Company will pay to the Employee or the Employee’s estate (as applicable, or as may be directed by the legal representatives of such estate), within thirty (30) days following the Date of Termination any accrued but unpaid Base Salary through the Date of Termination.  All other unpaid amounts, if any, which the Employee has accrued and is entitled to as of the Date of 

Termination in connection with any fringe benefits or under any bonus or incentive compensation plan or program of the Company pursuant to Section 5 will be paid in accordance with the terms of such arrangements.  The Company will have no further obligations to the Employee under this Agreement or otherwise (other than pursuant to any employee benefit plan and any life insurance, death in service, disability or other equivalent policy for the benefit of the Employee, as applicable). 
By the Company Without Cause; By the Employee for Good Reason
If the Company terminates the Employee’s employment during the Employment Period other than for Cause, Disability or death, or the Employee terminates her employment during the Employment Period for Good Reason, the Employee will be entitled to the Separation Benefits (as defined in this Section 8). Other than as set forth herein, the Company will have no further obligations to the Employee under this Agreement or otherwise (other than pursuant to any employee benefit plan). 
Nothing in this Section 8 will be deemed to operate or will operate as a release, settlement or discharge of any liability of the Employee to the Company or others for any action or omission by the Employee, including without limitation any actions which formed, or could have formed, the basis for termination of the Employee’s employment for Cause. 
General Release
The Employee will execute a customary general release in a form satisfactory to the Company in furtherance of this Agreement and as a condition to the receipt of any Separation Benefits (the “Release”).  Nothing in this Section 8 will be deemed to operate or will operate as a release, settlement or discharge of any liability of the Employee to the Company or others for any action or omission by the Employee, including without limitation any actions which formed, or could have formed, the basis for termination of the Employee’s employment for Cause. 
Separation Benefits
For purposes of this Agreement, “Separation Benefits” will mean:
(i)     payment by the Company to the Employee of:
		
	(A) 
	any accrued but unpaid Base Salary through the Date of Termination, payable in a lump sum within thirty (30) days following the Date of Termination; and

		
	(B) 
	any other unpaid amounts, if any, which the Employee has accrued and is entitled to as of the Date of Termination in connection with any fringe benefits or under any bonus or incentive compensation plan or program of the Company pursuant to Section 5, payable in accordance with the terms of such arrangements. 

(ii)    payment by the Company of a severance benefit in the amount equal to one-half (1/2) of her Base Salary (“Severance Payment”), payable in a lump sum within sixty (60) days following the Date of Termination, the exact payment date to be determined by the Company.
Notwithstanding any other provisions herein to the contrary, the Employee’s receipt of the Separation Benefits shall be subject to and conditioned upon Employee’s compliance with the terms 

and conditions of the Non-Compete Agreement (defined below) and the Employee having executed, within 45 days after the Date of Termination, the Release and such Release having not been revoked within such time period. 
SECTION 9 
NON-COMPETE
Concurrently with the execution hereof, the Employee shall enter into a non-compete agreement (“Non-Compete Agreement”) to be provided by the Company.  
SECTION 10 
MISCELLANEOUS
Notices
All notices, demands, requests or other communications required or permitted to be given or made hereunder will be in writing and will be delivered via overnight courier, telecopied or mailed by first class registered or certified mail, postage prepaid, addressed as follows: 
      (a)     If to the Company: 
Healthcare Trust of America, Inc. 
16435 N. Scottsdale Road, Suite 320 
Scottsdale, AZ  85254 
Fax: (480) 991-0755 
Attention: CEO
With a copy to:
Cox, Castle & Nicholson LLP 
    2049 Century Park East, Suite 2800 
    Los Angeles, CA 90067 
    Fax: (310) 277-7889 
    Attention: John F. Nicholson, Esq.
(b)    If to the Employee: 
Amanda Houghton
______________________ 
______________________
at the address on the books and records of the Company at the time of such notice, or to such other address as may be designated by either party in a notice to the other. Each notice, demand, request or other communication that will be given or made in the manner described above will be deemed sufficiently given or made for all purposes three days after it is deposited in the U.S. mail, postage prepaid, or at such time as it is delivered to the addressee (with the return receipt, the delivery receipt, the answer back or the affidavit of messenger being deemed conclusive evidence of such delivery) or at such time as delivery is refused by the addressee upon presentation. 
Severability

The invalidity or unenforceability of any one or more provisions of this Agreement will not affect the validity or enforceability of the other provisions of this Agreement, which will remain in full force and effect. 
Survival
It is the express intention and agreement of the parties hereto that the provisions of Sections 8 and 9 will survive the termination of employment of the Employee.  In addition, all obligations of the Company to make payments hereunder will survive any termination of this Agreement on the terms and conditions set forth herein. 

Assignment
The rights and obligations of the parties to this Agreement will not be assignable or delegable, except that (i) in the event of the Employee’s death, the personal representative or legatees or distributees of the Employee’s estate, as the case may be, will have the right to receive any amount owing and unpaid to the Employee hereunder, and (ii) the rights and obligations of the Company hereunder will be assignable and delegable in connection with any merger, consolidation or sale of all or substantially all of the assets of the Company and any similar event with respect to any successor corporation.  Notwithstanding anything herein to the contrary, the rights and obligations of the Company hereunder will inure to the benefit of, and will be binding upon, any successor to the Company or its business by merger or otherwise, whether or not there is an express assignment, delegation or assumption of such rights and obligations. 
Dispute Resolution
In the event that any dispute or disagreement arises between the parties in connection with any provision of this Agreement, the parties shall first submit such disagreements to mediation.  Either party may commence mediation by providing to JAMS and the other party a written request for mediation, setting forth the subject of the dispute and the relief requested.  The parties will cooperate with JAMS and with one another in selecting a mediator from JAMS panel of neutrals, and in scheduling the mediation proceedings.  The parties will share equally in the costs of mediation. All offers, promises, conduct and statements, whether oral or written, made in the course of the mediation by any of the parties, their agents, employees, experts and attorneys, and by the mediator or any JAMS employees, are confidential, privileged and inadmissible for any purpose, including impeachment, in any proceeding involving the parties, provided that evidence that is otherwise admissible or discoverable shall not be rendered inadmissible or non-discoverable as a result of its use in the mediation.  Either party may commence a legal action with respect to the matters submitted to mediation at any time following the initial mediation session or forty-five (45) days after the date of filing the written request for mediation, whichever occurs first.
Binding Effect
Subject to any provisions hereof restricting assignment, this Agreement will be binding upon the parties hereto and will inure to the benefit of the parties and their respective heirs, devisees, executors, administrators, legal representatives, successors and assigns. 

Amendment; Waiver
This Agreement will not be amended, altered or modified except by an instrument in writing duly executed by the parties hereto. No waiver by either of the parties hereto of a breach of or a default under any of the provisions of this Agreement will thereafter be construed as a waiver of any subsequent breach or default of a similar nature. The failure of either of the parties, on one or more occasions, to enforce any of the provisions of this Agreement or to exercise any right or privilege hereunder will not be construed as a waiver of any such provisions, rights or privileges hereunder, or a waiver of any subsequent breach or default of a similar nature. 

Headings
Section and subsection headings contained in this Agreement are inserted for convenience of reference only, will not be deemed to be a part of this Agreement for any purpose, and will not in any way define or affect the meaning, construction or scope of any of the provisions hereof.   
Governing Law
This Agreement, the rights and obligations of the parties hereto, and any claims or disputes relating thereto, will be governed by and construed in accordance with the laws of the State of Arizona (but not including the choice of law rules thereof). 
Entire Agreement
This Agreement constitutes the entire agreement between the parties respecting the employment of the Employee, there being no representations, warranties or commitments between the parties except as set forth herein. 
Counterparts
This Agreement may be executed in two or more counterparts, each of which will be an original and all of which will be deemed to constitute one and the same instrument. 
Provisions Regarding Code Section 409A
This Agreement shall be interpreted and administered in a manner so that any amount or benefit payable hereunder shall be paid or provided in a manner that is either exempt from or compliant with the requirements Section 409A of the Code and applicable Internal Revenue Service guidance and Treasury Regulations issued thereunder (and any applicable transition relief under Section 409A of the Code).
Notwithstanding anything in this Agreement to the contrary, to the extent that any amount or benefit that would constitute non-exempt “deferred compensation” for purposes of Section 409A of the Code would otherwise be payable or distributable hereunder by reason of the Employee’s termination of employment, such amount or benefit will not be payable or distributable to the Employee by reason of such circumstance unless (i) the circumstances giving rise to such termination of employment meet any description or definition of “separation from service” in Section 409A of 

the Code and applicable regulations (without giving effect to any elective provisions that may be available under such definitions), or (ii) the payment or distribution of such amount or benefit would be exempt from the application of Section 409A of the Code by reason of the short-term deferral exemption or otherwise.  If this provision prevents the payment or distribution of any amount or benefit, such payment or distribution shall be made on the date, if any, on which an event occurs that constitutes a Section 409A-compliant “separation from service,” or such later date as may be required by the following paragraph.
If any amount or benefit that would constitute non-exempt “deferred compensation” for purposes of Section 409A of the Code would otherwise be payable or distributable under this Agreement by reason of the Employee’s separation from service during a period in which the Employee is a “specified employee” (as defined in Section 409A of the Code and applicable regulations), then payment or commencement of such non-exempt amounts or benefits shall be delayed until the earlier of (i) thirty (30) days following Employee’s death, or (ii) the first day of the seventh month following the Employee’s separation from service.
Whenever in this Agreement the provision of payment or benefit is conditioned on the Employee’s execution and non-revocation of a general release of claims, such release, must be executed, and all revocation periods shall have expired, within 60 days after the Date of Termination, but the Company may elect to commence payment at any time during such 60-day period.
If the Employee (or the Employee’s spouse or eligible dependents) is entitled to be paid or reimbursed for any taxable expenses under this Agreement, including, but not limited to, those expenses provided in Sections 5 and 6, and such payments or reimbursements are includible in the Employee’s federal gross taxable income, the amount of such expenses reimbursable in any one calendar year shall not affect the amount reimbursable in any other calendar year, and the reimbursement of an eligible expense must be made no later than December 31 of the year after the year in which the expense was incurred.  No right of the Employee to reimbursement of expenses under this Agreement, including, but not limited to, those provided in Sections 5 and 6, shall be subject to liquidation or exchange for another benefit.
Definitions
“Affiliate” means any entity from time to time designated by the Board and any other entity directly or indirectly controlling or controlled by or under common control with the Company. For purposes of this definition: “control” means the power to direct the management and policies of such entity, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative to the foregoing.   
“Board” means the board of directors of the Company. 
“Cause” means: (i) the Employee’s conviction of or entering into a plea of guilty or no contest to a felony or a crime involving moral turpitude or the intentional commission of any other act or omission involving dishonesty or fraud that is materially injurious to the Company or any of its Affiliates; (ii) the Employee’s substantial and repeated failure to perform duties of the office(s) held by the Employee, as reasonably directed by the CEO, CFO and/or EVP – Acquisitions, if such failure is not cured within thirty (30) days after the Employee receives written notice thereof; (iii) gross negligence or willful misconduct in the performance of the Employee’s duties which materially 

injures the Company or its reputation; or (iv) the Employee’s willful breach of the material covenants of this Agreement. 
“Code” means the Internal Revenue Code of 1986, as amended. 
“Date of Termination” means: (i) if the Employee’s employment is terminated by the Employee’s death, the date of the Employee’s death; (ii) if the Employee’s employment is terminated because of the Employee’s Disability, thirty (30) days after Notice of Termination, provided that the Employee will not have returned to the performance of the Employee’s duties on a full-time basis during such thirty (30) day period; (iii) if the Employee’s employment is terminated by the Company for Cause, the date specified in the Notice of Termination; (iv) if the Employee’s employment is terminated during the Employment Period, either by the Company or the Employee, for any other reason, the date specified in the Notice of Termination; or (v) if the Employee’s employment is terminated by reason of expiration of the Employment Period by its terms, the date on which the Employment Period expires by its terms. 
“Good Reason” means, in the absence of a written consent of the Employee: (i) except for Employee nonperformance, a material diminution in the Employee’s authority, duties or responsibilities, as contemplated by Section 3 of this Agreement (provided that this provision will not apply if Employee’s Base Salary is kept in place) or (ii) except in connection with a material decrease in the business of the Company, a diminution in the Employee’s Base Salary in excess of fifteen percent (15%).  Notwithstanding the foregoing, (A) the Employee must notify the Company in writing of any event or condition described in subsection (i) or (ii) hereof within ninety (90) days of the initial existence of such event or condition, (B) the Company will have at least thirty (30) days after receipt of such notice from the Employee to cure such initial event or condition, and (C) the Employee must separate from service with the Company within ninety (90) days after the end of the cure period described in (B) hereof in the event the Company does not cure such initial event or condition. 
 
[Signatures on Following Page]

IN WITNESS WHEREOF, the undersigned have duly executed this Agreement, or have caused this Agreement to be duly executed on their behalf, as of the day and year first hereinabove written.

COMPANY:
HEALTHCARE TRUST OF AMERICA, INC.,
A Maryland corporation

By:  _____________________________
        Name:  ______________________
        Its:  _________________________

EMPLOYEE:

________________________________
Amanda HoughtonSPH 3.31.2012 10Q EX 10.1

Exhibit 10.1

Employment Agreement by and among WHX Corporation, 
Handy & Harman, and James McCabe, Jr. dated as of February 1, 2007

                             
      THIS  AGREEMENT,  dated and  effective as of February 1, 2007,  is entered into by and among WHX  CORPORATION  ("WHX"),  a corporation  organized under the laws of the State of Delaware,  HANDY & HARMAN ("H&H"), a corporation  organized under the laws of the State of New York, each with principal  offices located at
555 Theodore Fremd Avenue, Rye, New York 10580 (collectively,  the "Companies"), and JIM  MCCABE  (the  "Executive"),  an  individual  with a  residence  at 1363 Worthington Court, Ambler PA.

      NOW, THEREFORE,  in consideration of the promises and the mutual covenants herein contained, and for other good and valuable consideration, the receipt and sufficiency  of which are  hereby  acknowledged,  the  parties  hereto  agree as
follows:

		
	1.
	      EMPLOYMENT; TERM.

		
	a)
	Executive's  employment  with each of the Companies shall begin thirty  (30)  days  following  notice  from the  Companies  that  Executive  has satisfied  all of the  conditions of the offer and Executive has been provided a mutually  agreed-upon  employment  agreement  that  has  been  executed  by  the Companies (the "Effective Date") pursuant to the terms and conditions  contained herein.  The Executive shall hold the office of Senior Vice President of each of the Companies.  The Executive shall perform all the duties consistent with these positions as set forth in each of the Companies'  By-Laws,  as well as any other duties  commensurate  with the  Executive's  positions  that are assigned to the Executive from time to time by the respective  Board of Directors of each of the Companies (the "Boards").

The Executive  shall devote his full working time,  attention and energies to the business of each of the Companies and shall not,  during the term of this Agreement,  be  engaged  in any other  business  activity,  whether  or not such business  activity is pursued  for gain,  profit or other  pecuniary  advantage;
however,  this shall not be construed as preventing the Executive from investing his personal assets in any business or venture which does not compete,  directly or  indirectly,  with either of the  Companies  in any  manner,  in such form or manner as will not require  any  services  on the part of the  Executive  in the
operation of the affairs of the entities in which such  investments are made and in which the Executive's  participation  is solely that of an investor,  and the Executive may purchase  securities in any corporation  for which  securities are regularly traded, provided, that such purchase shall not result in the Executive
beneficially  owning  at any one time  one  percent  (1%) or more of the  equity securities of any corporation  engaged in a business  directly  competitive with either of the Companies.
            
b)          The term of this Agreement  shall commence on the Effective Date and shall  continue in full force and effect until the first  anniversary of the Effective  Date, at which time,  and on each  anniversary  of the Effective Date thereafter,  the term of this  Agreement  shall be  extended  for a one (1) year period until the next anniversary thereafter (such period, as it may be extended from time to time, the "Term"),  unless one party hereto shall provide notice of termination  to the other  party  hereto no less than  thirty (30) days prior to such  anniversary  or on such earlier date as this  Agreement is  terminated  in accordance with the provisions set forth below.
2  

                                     

      2.      COMPENSATION.  Subject to the terms and conditions of this  Agreement, the Companies shall collectively pay to the Executive, as aggregate compensation for the  duties to be  performed  by the  Executive  under this  Agreement,  the following:

		
	a)
	A base salary of not less than $300,000 per annum, to be paid in equal installments no less frequently than monthly.

		
	b)
	The Executive  shall also be entitled to such annual  bonus,  if any, as the Board or the Compensation Committee of WHX, in its sole and absolute discretion,  shall determine,  in accordance with the terms of any bonus plan of each of the Companies  applicable  to Executive.  The bonus for 2007 will not be less than $100,000 as long as the Executive  has not been  terminated  for Cause (as defined in Section  5(a) below) or  terminated  his  employment  pursuant to Section 6(b) below, prior to April 1, 2008.

		
	c)
	WHX agrees to grant Executive  50,000 options (the "Options") to purchase  WHX's  common  stock, pursuant  to the  draft  2007  WHX  Corporation Incentive  Stock Plan (the  "Plan").  Such  Options  shall be made  available to Executive as soon as practicable  (but in no event earlier than WHX's receipt of shareholder approval for the Plan and the filing of a Registration  Statement on Form S-8  registering  the  securities  to be  issued  thereunder),  and if such approval and  registration  has not been  obtained on or prior to September  30, 2007, , then Executive shall be issued 50,000 "phantom"  options in lieu of such Options at that time, with such "phantom"  options to have the same strike price and vesting  provisions  as the Options would have had on September 30, 2007 had the Plan been approved by WHX's  shareholders as of that date. If, however,  WHX issues  "phantom"  options to other  executives of the Companies  generally on a different  date,  then the date above of  September  30, 2007 shall be deemed to have been changed to such other date.

                                      
 3

3.           VACATION.  The Executive  shall be entitled to vacation,  with pay, of four (4) weeks in each calendar year.  This vacation time shall be pro-rated for partial employment in the final calendar year of employment.

4.            BENEFITS.  The Executive  shall receive the benefits made available to executives of each of the Companies, including without limitation the following:

		
	a)
	Health insurance coverage,  if and to the extent provided to all other employees of each of the Companies;

		
	b)
	A  temporary  living  allowance  of  $3,400  per  month  through February 2009 and a car allowance of $600.00 per month; and

		
	c)
	Life insurance,  disability insurance and 401-K benefits, if and to the extent  provided to executives of either of the Companies  (excluding any benefits anyone else is entitled to under any supplemental  executive retirement program).

Executive acknowledges that to the extent that any of the compensation and
benefits  described  herein  constitute  wages or other  taxable  income  to the
Executive,  such wages or other  taxable  income shall be subject to  applicable
income and employment tax withholding, as required.

5.           TERMINATION OF AGREEMENT BY EACH OF THE COMPANIES.  This Agreement may be terminated  by      either of the  Companies by providing  notice to the Executive pursuant to Section 12 below upon the occurrence of any of the following:
		
	a)
	For Cause (as defined below);

		
	b)
	Death of the Executive;

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c)            Disability (as defined below) of the Executive; or

d)            Without Cause.      

The term "Cause," as used herein,  means: (i) the Executive's  engaging in conduct which is materially injurious to either of the Companies or any of their respective customer or supplier relationships, monetarily or otherwise; (ii) the Executive's  engaging in any act of fraud,  misappropriation  or embezzlement or sexual or other harassment of any employee of either of the Companies; (iii) the Executive's  engagement in any act which would or does constitute a felony; (iv) the willful or continued  failure by the Executive to substantially  perform his duties,  including, but not limited to, willful misconduct,  gross negligence or other acts of dishonesty; or (v) the Executive's material violation or breach of this Agreement.

The term "Disability," as used herein,  means the Executive's absence from the  full-time  performance  of his  duties  hereunder  for a period of at least ninety (90) days, whether or not consecutive, within any twelve (12) consecutive month period as a result of any incapacity due to physical or mental illness. If the  Agreement is  terminated  pursuant to Sections 5 (a), (b), or (c), then  Executive  shall be entitled  to receive  from each of the  Companies  the aggregate of any due but unpaid compensation through the date of termination; if pursuant to Section  5(b),  all life  insurance  proceeds to which his estate is
entitled  pursuant to any life  insurance  program  maintained  by either of the Companies  in which he is a  participant;  if  pursuant  to  Section  5(c),  any disability insurance payments to which he is entitled pursuant to any disability
insurance  program  maintained  by  either  of the  Companies  in  which he is a participant;  and any expenses  incurred and  submitted  for  reimbursement,  in accordance  with  Section 8, but not paid prior to such  termination.  Executive shall receive no further benefits or compensation, except as required by law.

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6.            TERMINATION OF AGREEMENT BY THE EXECUTIVE.

		
	a)
	This  Agreement  may be terminated by the Executive by providing written  notice to either of the  Companies  within sixty (60) days  following a Material  Diminution (as defined  below) of the  Executive's  position,  duties, responsibilities or base salary compensation with either of the Companies or the relocation of WHX's  headquarters to a location more than 50 miles from Rye, New York (a "Material Diminution or Relocation Termination  Election").  In the case of a Material  Diminution or Relocation  Termination  Election by the Executive, such Company or Companies  shall have ten (10)  business  days  following  their

receipt  of  written  notice  of  termination  from the  Executive  to cure such Material  Diminution  or Relocation.  In the case of a Material  Diminution  or Relocation  Termination  Election, if such Company or Companies do not cure such Material  Diminution or Relocation  within the ten (10) business days  following its receipt of such Material Diminution or Relocation  Termination Election from the Executive,  pursuant to this Section,  termination of Executive's employment shall be effective at the end of such ten (10) business day period.

"Material  Diminution"  shall only mean a situation in which the Executive is no longer employed as the Senior Vice President of both of the Companies,  or employed  or  offered  employment  in  substantially   equivalent  positions  of substantially  equivalent  companies,  regardless  of what,  if any,  additional
positions  Executive  may from  time to time  hold or not hold  with each of the Companies or its subsidiaries or affiliates,  or the material  diminution of the duties  or  responsibilities  commensurate  with the  position  of  Senior  Vice President  of the  Companies,  or a  reduction  of the  Executive's  base salary
compensation below the amount set forth herein.

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 b)          In all other instances,  the Executive may voluntarily terminate his  employment  upon  thirty  (30)  days  prior written notice to each of the Companies.

7.             SEVERANCE AND OTHER PAYMENTS.

		
	a)
	In the event the Executive's  employment is terminated by either of the Companies  pursuant to Section 5(d) of this Agreement,  which termination shall  include  the giving of notice not to extend the Term  pursuant to Section 1(b),  the  Companies  collectively  agree to pay to the  Executive as aggregate compensation:  (i) a lump-sum cash payment equal to his then current annual base salary  (the   "Severance   Payment");   (ii)  monthly  COBRA  payments  of  any health-related benefits (medical,  dental, and vision) as are then in effect for either a 12-month period following termination or until the Executive obtains or is eligible for coverage  through a subsequent  employer,  whichever is earlier; (iii) any bonus payment that  Executive may be entitled to pursuant to any bonus plans as are then-in-effect;  and (iv) a car (not living) allowance, as provided pursuant to Section 4(b), for a one year period after termination. Prior to, and as a precondition to the payment of the Severance  Payment,  the Executive shall deliver to each of the  Companies  a general  release of each of the  Companies, their  subsidiaries  and  affiliates,  and  each of their  officers,  directors, employees,  agents,  successors  and assigns (but excluding a release of each of the Companies'  continuing  obligations  under this Agreement and/or pursuant to its continuing  indemnification  obligations to Executive  under their charters, bylaws,  resolutions  of each of the Board of  Directors  and  under  applicable insurance policies), in a form acceptable to each of the Companies and provide a Director  Resignation (as defined below),  if applicable.  The Severance Payment and bonus payment  referred to in Section  7(a)(iii) shall be made no later than ten (10)  business  days  following the delivery by the Executive of the release referred to above and the  Director  Resignation  (if  applicable),  and if said release and the Director Resignation are not so delivered within sixty (60) days of the  Executive's  receipt of said release  (which  release shall be delivered promptly  to  Executive  following  his  termination  of  employment),  then the Executive  shall not be  entitled  to  receive  any  Severance  Payment or other benefits described herein. In all other instances,  including termination of the

 7

Executive's employment for Cause,  termination pursuant to Sections 5(b) or 5(c)
above,  or if the  Executive  voluntarily  leaves the  employment of each of the
Companies  (other  than for a reason  set  forth in  Section  6(a)  above),  the
Executive  shall not be eligible or  entitled  to, and neither of the  Companies
shall be obligated to make, any payment  following the Executive's  termination,
including the Severance  Payment,  except as otherwise  provided in Section 5 or
Section 7(b), and each of the Companies shall have no further obligations to the
Executive  including the obligation for a car allowance.  Executive agrees that,
upon the  termination  of his employment  with each of the  Companies,  he shall
immediately resign his positions,  if any, as an officer and director of each of
the Companies and each of its subsidiaries (the "Director Resignation").

b)           In the event the Executive terminates his employment pursuant to Section 6(a),  and either of the Companies does not cure timely the situation as provided in Section 6(a) under which the  Executive has elected to terminate his employment, then the Executive shall be entitled to receive from such Company or Companies the same  payments and benefits as provided for in the first  sentence of Section 7(a) above,  subject to the same terms and  conditions  set forth for the receipt of such payments and benefits as provided for in Section 7(a) above.

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 c)          The Executive's  entitlement to the Severance  Payment and other payments listed in the first sentence of Section 7(a) (except for COBRA payments as provided  therein),  described in Sections 7(a) and 7(b) above,  shall not be impacted or otherwise  effected by other employment the Executive may obtain and the Executive shall be under no obligation to seek other  employment in order to receive such Severance  Payment and other payments  listed in the first sentence of Section 7(a).

8.            EXPENSES.  

Any ordinary and necessary expenses  reasonably  incurred by the Executive in connection  with his employment by each of the  Companies,  and which are  directly  connected  with or  pertaining  to the  furtherance  of the business of each of the  Companies  in  accordance  with each of the  Companies' Travel & Expense  Policy,  shall be  reimbursed  to the Executive by each of the Companies,  within  thirty  (30) days from the date of the receipt of an expense report,  attaching  receipts stating:  (i) the amount of such expense;  (ii) the time and place that the expense was incurred;  (iii) the business purpose of the expense; and (iv) the business  relationship to each of the Companies of persons entertained, if any.

9.           DISCLOSURE OF INFORMATION.

a)           The Executive will not at any time,  whether during or after the termination of his employment, divulge, use, furnish, disclose or make available to any person or  entity,  any  non-public  information  concerning  each of the Companies'  business,  including  without  limitation,  its marketing  plans and strategies,  pricing policies,  planned strategies related to sources of supply, methods of delivery,  customer  names,  purchasing  needs and/or  priorities  of
                                       
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customers,  and the finances or financial  information of each of the Companies, so  far as  such  information  has  come  to his  knowledge  as a  result  of or subsequent to his employment by each of the Companies, except to the extent that disclosure  may be required by law or to the extent that such  information is in the public domain through no fault of the Executive.  The Executive acknowledges that such information,  including without limitation, information regarding each of the Companies' customers, their purchasing needs and priorities,  each of the Companies' sources of supply, their business plans and financial  condition,  is
non-public,  proprietary,  and  confidential  and  that the  disclosure  of such information may cause each of the Companies  substantial harm.  Executive hereby agrees to keep  confidential  all  matters of such nature  entrusted  to him and agrees not to use or attempt to use any such  information in any manner that may
harm or cause injury to each of the Companies.  In addition,  copies of all data files on Executive's own media must be deleted and a letter stating such must be sent to each of the Companies  promptly following the termination of Executive's employment  with each of the  Companies,  but no later than five  business  days after receiving notice from either of the Companies demanding such deletion.

b)            Executive  agrees that upon  termination of his employment  with each of the Companies he will immediately surrender and turn over to each of the Companies all books,  forms,  records,  reports,  lists and all other papers and writings,  including items storing  computer memory (except computer hard drives from which items  relating to each of the  Companies  and its business have been deleted),  relating to each of the Companies and their  business,  and all other property belonging to each of the Companies, it being understood and agreed that the same are solely the property of each of the Companies.

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c)            The  provisions of this Section shall survive the expiration and termination of this Agreement.

10.         COVENANTS NOT TO COMPETE OR INTERFERE.

a)             During his employment with each of the Companies,  and for a one year period following the termination of Executive's  employment,  the Executive will not (i) directly or indirectly, own an interest in, operate, join, control, or participate in, or be connected as an officer,  employee,  agent, independent contractor,  consultant,  partner, shareholder, or principal of any corporation, partnership,  proprietorship, firm, association, person, or other entity engaged in  a  business  which  sells,  manufactures  or  produces  the  products  sold, manufactured  or  produced  by  each  of  the  Companies  and/or  any  of  their subsidiaries  (the "Products") at the time of the termination of the Executive's employment  under  this  Agreement  or which  otherwise  competes,  directly or indirectly,  with each of the  Companies  or their  subsidiaries  (a  "Competing Business"),  or (ii)  knowingly  solicit  or  accept  business  for a  Competing Business (x) from any customer of each of the Companies,  or their subsidiaries, (y) from any former  customer of each of the Companies,  or their  subsidiaries, who purchased any Products during the twelve months preceding the termination of the Executive's  employment  under this  Agreement,  or (z) from any prospect of each of the  Companies,  or their  subsidiaries,  with whom the Executive met to solicit or with whom the Executive discussed the sale of any Products during the twelve months preceding the termination of the Executive's employment under this Agreement.  Executive  acknowledges  that  each of the  Companies'  sales of the Products is national in scope.  Notwithstanding the foregoing, the Executive may own up to 1% of the outstanding  common stock of any class of common equity of a publicly traded entity provided the Executive's  role with the entity is passive in nature.

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b)           During  his  employment  with the  Company,  and for a two year period following the termination of Executive's  employment,  the Executive will not directly or  indirectly,  as a sole  proprietor,  member of a partnership or stockholder,  investor, officer or director of a corporation, or as an employee, agent,  associate or consultant of any person,  firm or  corporation,  induce or solicit,  or  attempt  to  induce  or  solicit,  any  employee  of either of the Companies or its  subsidiaries  or affiliates to terminate his or his employment with  either of the  Companies  or in any way  interfere  with the  relationship between either of the Companies,  or their  subsidiaries or affiliates,  and the employee,  and  will not  solicit,  hire,  retain  or  enter  into any  business arrangements,  with or enter into any discussion to do the same, with any person working for, or independent  contractor  of, either of the  Companies,  or their subsidiaries or affiliates.

c)           During his employment with each of the Companies,  and for a one year period following the termination of Executive's  employment,  the Executive will not directly or  indirectly  hire,  engage,  send any work to, place orders with,   or  in  any  manner  be  associated   with  any  supplier,   contractor, subcontractor  or other  business  relation of each of the  Companies,  or their subsidiaries or affiliates,  if such action would have a reasonably  foreseeable adverse effect on the business,  assets or financial  condition of either of the Companies or their  subsidiaries or affiliates or materially  interfere with the relationship  between any such person or entity and either of the  Companies  or their subsidiaries or affiliates.

               12

d)           It is the desire and intent of the parties  that the  provisions of this Section 10 shall be enforced to the fullest extent permissible under the laws and public policies  applied in each  jurisdiction in which  enforcement is sought.  Accordingly,  if any  particular  portion  of this  Section 10 shall be adjudicated to be invalid or unenforceable, then this Section 10 shall be deemed amended to delete  therefrom  the portion that is  adjudicated  to be invalid or unenforceable.  The  provisions  of this  Section 10 are  intended  to and shall survive the termination or expiration of this Agreement.

11.           INJUNCTIVE  RELIEF.  In addition to the remedies  available to each of the Companies,  the Executive  acknowledges  that any breach by the Executive of the provisions of Sections 9 or 10 of this  Agreement,  would cause  irreparable injury to each of the  Companies  for which there may be no  adequate  remedy at law.  In  addition  to all of the  rights  and  remedies  to  which  each of the Companies  may be  entitled,  each of the  Companies  shall also be  entitled to obtain  a  temporary   restraining  order  and/or  a  preliminary  or  permanent injunction  which would  prevent the Executive  from  violating or attempting to violate any such provisions. In seeking such an order, any requirement to post a bond or other  undertaking  shall be waived.  In any  action  brought to enforce these restrictive covenants, each of the Companies shall be entitled to an award of all reasonable costs and fees incurred in bringing such an action,  including reasonable  attorney's  fees.  Nothing  herein shall be construed as prohibiting each of the  Companies  from  pursuing  any other  remedies  for such  breach or threatened breach.

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12.          NOTICES.  All  notices,  requests,  demands and other  communications hereunder  must be in  writing  and shall be deemed to have been duly given upon delivery if  delivered  by hand,  sent by  telecopier,  facsimile  or  overnight courier,  and three (3) days  after  such  communication  is mailed  within  the continental  United  States  by  first  class  certified  mail,  return  receipt requested,  postage  prepaid,  to the other  party,  in each case  addressed  as provided in the  introduction  to this  Agreement.  Addresses  may be changed by written  notice  sent to the other  party at the last  recorded  address of that party.

13.          INSURANCE.  Each of the  Companies  may, at its  election and for its benefit,  insure  the  Executive  against  accidental  loss  or  death,  and the Executive shall submit to such physical examinations and supply such information as may be reasonably required in connection therewith.

14.         AUTHORITY.  The  Executive  represents  and  warrants  that he is not subject to any agreement, understanding,  arrangement, order, judgment or decree of any kind,  or any other  restrictive  agreement or  arrangement,  which would prevent him from entering into this Agreement, or from providing the services he is expected to provide as an employee of each of the Companies  pursuant to this Agreement, or which would be breached by the Executive executing this Agreement. The Executive  agrees to indemnify and hold each of the Companies  harmless from and for any  liability  to each of the  Companies  arising from a breach of this representation and warranty.       

15.          ASSIGNMENT.  The  services to be rendered and the  obligations  to be performed by the Executive under this Agreement are special and unique,  and all such  services  and  obligations  and all of the  Executive's  rights under this Agreement  are  personal  to  the  Executive  and  shall  not be  assignable  or

14

transferable and any purported assignment or transfer thereof shall not be valid or binding upon each of the Companies.  However, in the event of the Executive's death  during  the  term of this  Agreement,  the  Executive's  estate  shall be entitled to receive  salary and any other  payment  due and accrued  through the date of the Executive's death and all payments due to the Executive  pursuant to the  provisions  of  Sections 5 and 7. Each of the  Companies  may  assign  this Agreement and any and all of its rights under this Agreement to any person, firm or corporation  succeeding to the business of either of the Companies,  provided that such  successor  entity  shall  assume (by contract or by operation of law) that Company's  obligations  under this  Agreement,  at which point such Company
shall be relieved of its obligations hereunder.

16.          WAIVER OF  BREACH.  The  waiver by  either  of the  Companies  or the Executive of a breach of any provision of this Agreement shall not operate or be construed as a waiver of any subsequent breach by either of the Companies or the Executive.

17.          AMENDMENTS. No amendments or variations of the terms and conditions of this Agreement shall be valid unless the same is in writing and signed by all of the parties hereto.

18.          COMPLETE   AGREEMENT.   This   Agreement   constitutes   the  entire understanding  between the  parties  hereto  relating  to the matters  contained herein,  and supersedes any prior  agreements,  arrangements or  understandings, whether oral or written,  relating to the employment of the Executive by each of the Companies.

15

19.         HEADINGS.  The section  headings  contained herein are for convenience purposes  only  and  shall  not  in  any  way  affect  the   interpretations or enforceability of any provision of this Agreement.

20.          SEVERABILITY.  The invalidity or unenforceability of any provision of this  Agreement,  whether  in whole or in part,  shall not in any way affect the validity and/or  enforceability  of any other provision  herein  contained.  Any invalid or  unenforceable  provision shall be deemed  severable to the extent of any such invalidity or unenforceability.

21.          COUNSEL.  It is  acknowledged  by the  Executive  that he has had the opportunity to be represented by counsel of his choosing in connection  with the negotiation and execution of this Agreement.

22.          GOVERNING  LAW.  This  Agreement  and  all  matters   concerning  its interpretation,  performance,  or the enforcement  hereof,  shall be governed in accordance with the laws of the State of New York, without regard to conflict of law principles.

23.         JURISDICTION.  Each of the  parties  hereto  hereby  irrevocably  and unconditionally  submits to the exclusive  jurisdiction  of any state or federal court  sitting  in the  County of New York,  State of New York,  and each of the parties hereto hereby  irrevocably and  unconditionally  agrees that any and all claims  which  arise out of or relate to this  Agreement  or to the  Executive's employment  with each of the Companies shall be heard and determined in any such court.  Each of the parties hereto  irrevocably and  unconditionally  waives any objection  that either of them may now or  hereinafter  have to the venue of any suit,  action or proceeding  arising out of or relating to this  Agreement or to the  Executive's  employment  with each of the Companies in any state or federal court sitting in New York County.  Each of the parties hereto hereby irrevocably waives,  to the fullest extent  permitted by law, the defense of an inconvenient
 
16

forum to the maintenance of such action or proceeding in any such court. Each of the parties hereto  irrevocably  waives the right to a trial by jury and each of the parties irrevocably  consents to service of process by first class certified mail, return receipt  requested,  postage prepaid,  to the address at which such party is to receive notice in accordance with Section 12.

24.          EXPENSES.  In the event that either of the Companies or the Executive incurs  expenses in  connection  with the  enforcement  of this  Agreement,  the prevailing  party  shall  be  entitled  to  recover  all  expenses  incurred  in connection with such enforcement of this Agreement from the non-prevailing party including, without limitation, reasonable attorneys' fees. 

25.          COUNTERPARTS.   This  Agreement  may  be  executed  in  one  or  more counterparts with each counterpart considered as an original.

26.            DUPLICATIVE  PAYMENTS AND BENEFITS NOT INTENDED.  For the avoidance of doubt, all payments due and benefits recited hereunder are the joint and several obligation of each of the Companies, and under no circumstance shall any payment or benefit be provided to Executive by either  Company as a duplicative  payment or benefit.
 
IN WITNESS  WHEREOF,  the parties  hereto have executed and delivered this
Agreement as of the day and year first above written.
                                       
17

[SIGNATURE PAGE TO MCCABE EMPLOYMENT AGREEMENT]
                                                
EXECUTIVE
/s/ Jim McCabe
--------------------------------
                                                
Jim McCabe
WHX CORPORATION
By: /s/ Glen Kassan
 ----------------------------

Name: Glen Kassan
Title: CEO
HANDY & HARMAN
By: /s/ Glen Kassan
----------------------------

Name: Glen Kassan
Title: Director
                                       
18

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