Document:

<PAGE>

                                                                    EXHIBIT 10.1

                                                        PRIVATE AND CONFIDENTIAL

                        SEVERANCE AND RELEASE AGREEMENT

        THIS SEVERANCE AND RELEASE AGREEMENT (this "Agreement") is made and
entered into as of October 5, 2005 (the "Effective Date"), by and between and
Wright Medical Technology, Inc., a Delaware corporation (the "Company"), and
Laurence Y. Fairey (the "Employee").

        DEFINITIONS:

        A.  As used herein, the term "Employee" shall mean Laurence Y. Fairey
and his heirs, personal representatives, and assigns.

        B.  As used herein, the term "Company" shall mean Wright Medical
Technology, Inc., its parent, subsidiaries, affiliates and divisions (including,
but not limited to, Wright Medical Group, Inc.), its and their respective
successors and assigns, and all of the past and present officers, directors,
employees and agents of such entities, in their individual and representative
capacities.

        WHEREAS, the Employee and the Company desire to settle and resolve all
matters pertaining to Employee's employment with Wright Medical Technology, Inc.
and the termination of that employment;

        NOW THEREFORE in consideration of the promises, agreements, releases and
obligations as hereinafter set forth, it is agreed by the Employee and the
Company as follows:

        1.  The Employee unconditionally releases the Company from any and all
causes of action and liability related to the Employee's hire, employment, and
termination of employment at the Company occurring prior to and up to the
effective date of this Agreement, including, but not limited to, any and all
breach of contract claims, common law tort claims, claims of discrimination,
claims for compensation and benefits (including claims under the Employee
Retirement Income Security Act of 1974, as amended), as well as any and all
claims which the Employee may have under or in connection with any and all
local, state or federal ordinances, statues, or common law. The only exclusion
from this release is a claim that some term of this Agreement has been violated.
The Company represents to the Employee that as the date of this Agreement, it
does not have or know of any claims or causes of actions which it may have
against the Employee. The Employee shall be entitled to indemnification by the
Company for acts arising in the course of the Employee's employment in
accordance with and subject to the indemnification provisions contained in the
Certificate of Incorporation and/or Bylaws of the Company as in effect from time
to time.

<PAGE>

Severance and Release Agreement                         PRIVATE AND CONFIDENTIAL
October 5, 2005
Page 2

------------------------

        2.  The Employee hereby resigns, as of the close of business on the
Effective Date, from his positions as the President and Chief Executive Officer
of the Company, a director of the Company, a member of the Executive Committee
of the Board of Directors of the Company, and an employee of the Company, and
from any and all other positions to which the Employee has been elected or
appointed and is now serving with the Company. The Employee agrees to execute
and deliver to the Company such resignation letters and other documents and
instruments evidencing the foregoing resignations as the Company may request
from time to time.

        3.  The Employee certifies that (a) this Agreement is fully understood
by the Employee and is entirely satisfactory to the Employee, (b) the Employee's
signing of this Agreement is the Employee's own free and informed act and deed,
and (c) the Employee has been given the opportunity to discuss it with counsel
of the Employee's choosing.

        4.  The Employee acknowledges that he is currently able to work in his
current position without limitations, either physical or mental, and without any
accommodation for any physical or mental ailment.

        5.  To the extent permitted by law, the Employee and the Company agree
that each will maintain the strictest secrecy and will not disclose the terms of
this Agreement to any person or entity, except (a) where such disclosure is
required by law or compelled pursuant to legal process, (b) for reporting
purposes to federal, state, or local governmental authorities, or (c) in
discussions with legal and financial advisors and the Employee's immediate
family members.

        6.  With respect to the Employment Agreement dated as of July 1, 2004,
as amended by the First Amendment to Employment Agreement dated as of April 4,
2005, between the Company and the Employee (collectively, the "Employment
Agreement"), the Employee agrees (a) that the Employee is not entitled to any
compensation or benefits under the Employment Agreement other than as provided
in paragraphs 4, 5, 6 and 14 thereof through the Effective Date; (b) to comply
with the covenants and to perform his obligations in full under the provisions
of paragraph 9, 10 and 11 of the Employment Agreement; and (c) that in the event
of any breach or threatened breach by the Employee of any provision of
paragraphs 9, 10 and 11 of the Employment Agreement, the Company shall be
entitled to any and all rights and remedies available to the Company under
paragraphs 11(c) and 12 of the Employment Agreement or otherwise.

<PAGE>

Severance and Release Agreement                         PRIVATE AND CONFIDENTIAL
October 5, 2005
Page 3

------------------------

        7.  The Employee hereby delivers to the Company an executed original of
the ADEA Release and Agreement attached hereto as Exhibit A, which releases the
Company from any and all liabilities under the Age Discrimination in Employment
Act of 1967, as amended.

        8.  Upon request by the Company, the Employee agrees to cooperate with
the Company during and after the Severance Period (as defined herein), without
further compensation by the Company, by meeting with and providing information
to the Company's representatives and others relating to the Employee's duties
performed heretofore or any governmental or other investigation or litigation
involving or affecting the Company. The person through whom this information
shall be requested by the Company will be the Employee's direct report as the
date of this Agreement or such person's designee.

        9.  This Agreement and any dispute arising in connection with its
operation or execution shall be construed in accordance with and governed by the
statues and common law of the State of Tennessee and shall be resolved by
binding arbitration in Memphis, Tennessee. Each party to this Agreement will
select one arbiter. The two arbiters so selected shall then select a third
arbiter. Decisions of the arbitration panel shall be binding upon the parties
hereto. The prevailing party shall be entitled to have all expenses, including,
but not limited to, attorney fees and any fees submitted by the arbitrators to
be paid by the non-prevailing party.

        10. This Agreement, together with paragraphs 7(b)(ii), 9, 10, 11 and 12
of the Employment Agreement, reflect the entire agreement of the parties
relating to the subject matter hereof and supersede all prior or contemporaneous
oral or written understandings, statements, representations, promises,
arrangements or agreements between the parties. The Confidentiality and
Inventions Agreement between the parties remains in full force and effect.

        11. The parties agree that each provision of this Agreement is severable
and further agree that if any term or provision is held to be invalid, void, or
unenforceable by a court of competent jurisdiction or an administrative agency
for any reason whatsoever, such ruling shall not affect the validity of the
remainder of this Agreement.

        12. In consideration and exchange for this Agreement and the ADEA
Release Agreement, the Company shall provide to the Employee the following:

<PAGE>
Severance and Release Agreement                         PRIVATE AND CONFIDENTIAL
October 5, 2005
Page 4

------------------------

         (a)  an amount in cash equal to the Base Salary (as defined in the
Employment Agreement) of the Employee with respect to a period of twenty-four
(24) months after the Effective Date (the "Severance Period"), which amount
(after deduction of applicable payroll taxes) shall be paid to the Employee in
accordance with the Company's customary payroll practices in effect from time to
time and with a final payment of the remaining balance on March 10, 2006;

         (b)  an amount in cash equal to the Base Salary equivalent of the
Employee's earned and unused vacation for 2005, if any, which amount (after
deduction of applicable payroll taxes) shall be paid to the Employee within
thirty (30) days after the Effective Date;

         (c)  an amount in cash equal to the total premiums payable by the
Employee for continued group medical, dental and vision plan coverage under
COBRA at the current COBRA rate during the eighteen (18) month period
immediately following the Effective Date, which amount (after deduction of
applicable payroll taxes) shall be paid to the Employee within thirty (30) days
after the Effective Date; and

         (d)  the attorney's fee for review of this Agreement and the ADEA
Release and Agreement of up to $200, which amount shall be paid to the Employee
within thirty (30) days after the Effective Date.

         Any stock options that the Employee has are governed by the specific
stock option agreement and the applicable stock option plan, and this Agreement
does not supersede those stock option agreements and plans. The Employee is
urged to review such stock option agreements and plans for the specific terms
that apply to his stock options.

<PAGE>
Severance and Release Agreement                         PRIVATE AND CONFIDENTIAL
October 5, 2005
Page 5

------------------

     THE EMPLOYEE ACKNOWLEDGES THAT HE HAS READ THIS SEVERANCE AND RELEASE
AGREEMENT, HE UNDERSTANDS ALL OF ITS TERMS, AND HE EXECUTES IT VOLUNTARILY AND
WITH FULL KNOWLEDGE OF ITS SIGNIFICANCE AND THE CONSEQUENCES THEREOF.

                 AGREED AND ACCEPTED as of the Effective Date.

EMPLOYEE:                               WRIGHT MEDICAL TECHNOLOGY, INC.

/S/ Laurence Y. Fairey                  By:     /s/ Jason P. Hood
-----------------------                       ---------------------------------
Laurence Y. Fairey                              Jason P. Hood, Vice President
                                        Title:  General Counsel and Secretary
                                              ---------------------------------

<PAGE>
                                                        PRIVATE AND CONFIDENTIAL

                                   EXHIBIT A

                           ADEA RELEASE AND AGREEMENT

         As a material inducement to Wright Medical Technology, Inc.
(hereinafter referred to as "Wright" or "Employer") to enter into this ADEA
Release and Agreement (the "Release or "Agreement") with Laurence Y. Fairey
(hereinafter referred to as "Employee") (for Employee, Employee's heirs,
executors, administrators and assigns), Employee hereby unconditionally releases
and forever discharges Wright and each of the Wright's stockholders,
predecessors, successors, assigns, agents, directors, officers, employees,
representatives, attorneys, divisions, subsidiaries, affiliates and all persons
acting by, through, under, or in concert with any of them from any and all
charges, complaints, claims, liabilities, obligations, promises, agreements,
controversies, damages, actions, causes of action, suits, rights, demands,
costs, losses, debts and expenses (including attorney's fees and costs actually
incurred) of any nature whatsoever, known or unknown, suspected or unsuspected,
including, but not limited to, rights, under the Age Discrimination in
Employment Act of 1967, as amended from time to time, and other federal, state,
or local laws prohibiting discrimination, any claims the employee may have with
regard to Employee's hiring, employment, or electing the reemployment program
and termination of employment claims growing out of any legal restrictions on
Wright's right to terminate its employees ("Claim" or Claims"), which the
Employee now has, owns or holds, or claims to have owned or held, or which the
Employee at any time hereinafter may have owned or held or claimed to have owned
or held against Wright.

         To comply with the Older Workers Benefit Protection Act of 1990, as
amended from time to time, the Release and Agreement has advised Employee of the
legal requirements of this Act and fully incorporates the legal requirements by
reference into this Agreement as follows:

         a.   This Agreement is written in layman's terms, and the Employee
              understands and comprehends its terms;

         b.   Employee has been advised of Employee's rights to consult an
              attorney to review the Agreement;

         c.   Employee does not waive any rights or claims that may arise after
              the date the Release is executed;

         d.   Employee is receiving consideration beyond anything of value to
              which he already is entitled;

         e.   Employee has been given a reasonable period of time to consider
              this Agreement.

         As consideration for this Release, Wright agrees to provide the items
listed previously in paragraph 12 of the Severance and Release Agreement dated
as of October 5, 2005. The Employee enters into this Release with full knowledge
of its contents and enters into this Agreement voluntarily.

<PAGE>
ADEA Release and Agreement                              PRIVATE AND CONFIDENTIAL
October 5, 2005
Page 2

------------------------

                              AGREED AND ACCEPTED

EMPLOYEE:                                 WRIGHT MEDICAL TECHNOLOGY, INC.

I acknowledge that I fully understand
and agree that this Agreement may be
pleaded by Wright Medical Technology,
Inc. as a complete defense to any claim
which hereafter may be asserted by me or
a claim against Wright Medical
Technology, Inc. for or on account of
any matter or thing whatsoever arising
out of the employment relationship or my
termination from active employment.

/s/ Laurence Y. Fairey                    By:     /s/ Jason P. Hood
------------------------------------             -------------------------------
Laurence Y. Fairey                               Jason P. Hood, Vice President
                                          Title: General Counsel and Secretary
                                                 -------------------------------

SWORN TO AND SUBSCRIBED, before me,       SWORN TO AND SUBSCRIBED, before me,
a Notary Public, in my presence this      a Notary Public, in my presence this
5th day of October, 2005                  5th day of October, 2005

         /s/ Deneise K. Speakman                   /s/ Deneise K. Speakman
         ---------------------------               -----------------------------
         Notary Public                             Notary Public

County of Shelby                          Shelby County
          -------------
State of  Tennessee                       Tennessee
          -------------

  Commission Expires: 1/15/08               Commission Expires: 1/15/08
                      --------------                            -----------

 DENEISE K. SPEAKMAN                       DENEISE K. SPEAKMAN
        NOTARY                                    NOTARY
        PUBLIC                                    PUBLIC
          AT                                        AT
        LARGE                                     LARGE
    SHELBY CO., TN                            SHELBY CO., TN
MY COMM. EXP. 1-15-08                     MY COMM. EXP. 1-15-08
        STAMP                                     STAMP

NOTE: THE EMPLOYEE IS HEREBY ADVISED OF HIS RIGHT TO RESCIND AND NULLIFY THIS
AGREEMENT, WHICH RIGHT MUST BE EXERCISED, IF AT ALL, WITHIN SEVEN (7) DAYS OF
THE DATE OF THE EMPLOYEE'S SIGNATURE. THE EMPLOYEE MUST REVOKE THE RELEASE BY
LETTER TO WRIGHT MEDICAL TECHNOLOGY, INC., ATTENTION: GENERAL COUNSEL, 5677
AIRLINE ROAD, ARLINGTON, TN 38002, WITHIN SEVEN (7) DAYS. NO CONSIDERATION
SHALL BE CONVEYED UNTIL SUCH TIME PERIOD HAS EXPIRED.<PAGE>
                                                                    EXHIBIT 10.1

                             RPM INTERNATIONAL INC.

          RPM INTERNATIONAL INC. 2004 OMNIBUS EQUITY AND INCENTIVE PLAN

                       STOCK APPRECIATION RIGHTS AGREEMENT

     THIS STOCK APPRECIATION RIGHTS AGREEMENT (the "Agreement"), is entered into
as of this 5th day of October, 2005 (the "Effective Date"), by and between RPM
International Inc., a Delaware corporation (the "Company"), and
___________________________________________ (the "Grantee").

                                   WITNESSETH:

     WHEREAS, the Compensation Committee of the Board of Directors (the
"Compensation Committee") administers the RPM International Inc. 2004 Omnibus
Equity and Incentive Plan (the "Plan"); and

     WHEREAS, the Committee desires to provide the Grantee with Stock
Appreciation Rights under the Plan upon the terms and conditions set forth in
this Agreement;

     NOW, THEREFORE, the Company and the Grantee agree as follows:

     1. Definitions. Unless otherwise specified in this Agreement, capitalized
terms shall have the meanings attributed to them under the Plan.

     2. Grant of Stock Appreciation Rights. As of the Effective Date, the
Company grants to the Grantee __________________________________________________
Stock Appreciation Rights ("SARs") which are units with values measured by
reference to increases in the Fair Market Value of shares of common stock, par
value $.01 per share, of RPM International Inc. ("Common Stock") over
$___________________, which is the closing price of a share of Common Stock (as
reported in the principal consolidated transaction reporting system for the New
York Stock Exchange) on the Effective Date.

     3. Exercise Dates. Except as provided in Sections 4 and 5, no SARs are
exercisable until the one (1) year anniversary of the Effective Date. Provided
that the Grantee continues to be an employee of the Company, its Subsidiaries or
Allied Enterprises until the dates set forth below, the Grantee will be entitled
to exercise the SARs in accordance with the following schedule:
<PAGE>
<TABLE>
<CAPTION>
Date as of Which SARs May Be   Percentage of SARs Which
          Exercised                May Be Exercised
----------------------------   ------------------------
<S>                            <C>
On and after October 5, 2006              25%
On and after October 5, 2007              50%
On and after October 5, 2008              75%
On and after October 5, 2009             100%
</TABLE>

So long as the Grantee shall continue to be an employee of the Company, a
Subsidiary or Allied Enterprise, the Grantee shall not be considered to have
experienced a break in continuous employment because of: (a) any temporary leave
of absence approved in writing by the Company, a Subsidiary or Allied
Enterprise; or (b) any change of duties or position (including transfer to or
from a Subsidiary).

     4. Termination of Employment.

          (a) Normal Retirement. If the Compensation Committee determines in its
     sole and exclusive discretion that the Grantee's employment with the
     Company, its Subsidiaries and Allied Enterprises has terminated due to
     Normal Retirement, the Grantee will have the immediate right
     (notwithstanding the provisions of Section 3) to exercise all of the SARs,
     subject to the requirements of Section 8. "Normal Retirement" is the
     Grantee's voluntary retirement (and not termination of employment by the
     Company, a Subsidiary or Allied Enterprise, whether with or without cause)
     after attaining age fifty-five (55) and completing at least five (5)
     consecutive years of service with the Company, its Subsidiaries and/or
     Allied Enterprises prior to termination of this Agreement. Upon Normal
     Retirement, the exercise rights shall terminate upon the earlier of the
     date which is three (3) years after the date of such retirement or the last
     day of the term of this Agreement.

          (b) Death or Total Disability. If the Grantee dies or becomes totally
     disabled (within the meaning of the Company's group long-term disability
     plan) while an employee or within thirty (30) days of the Grantee's having
     ceased to be an employee by reason of discharge, the Grantee's Beneficiary
     or Beneficiaries shall have the immediate right (notwithstanding the
     provisions of Section 3) to exercise all of the SARs. Such exercise rights
     shall in any event terminate upon the earlier of the date one (1) year from
     the date of the Grantee's termination of employment by reason of death,
     total disability or discharge or the last day of the term of this
     Agreement.

          (c) Reasons Other Than Normal Retirement, Death or Total Disability.
     If the Compensation Committee determines in its sole and exclusive
     discretion that the Grantee's employment with the Company, its Subsidiaries
     and Allied Enterprises has

                                        2
<PAGE>
     terminated for reasons other than those described in subsections (a) or (b)
     above, generally the Grantee will forfeit all SARs which have not become
     exercisable as of such date; provided, however, that upon written request,
     the Compensation Committee in its sole and exclusive discretion may
     determine (but shall not be under any obligation to determine) that
     additional SARs may become exercisable. If the Compensation Committee
     determines in its sole and exclusive discretion that such employment has
     terminated due to discharge, any accrued exercise rights with respect to
     exercisable SARs will terminate upon the earlier of the date thirty (30)
     days from the date of such termination of employment or the last day of the
     term of this Agreement. If the Compensation Committee determines in its
     sole and exclusive discretion that such employment has terminated due to a
     voluntary quit, any accrued exercise rights will terminate immediately.

     5. Change in Control. If a Change in Control as defined in the Plan has
occurred or an event has occurred that the Board of Directors, in the good faith
exercise of its discretion, determines to be a Change in Control, the Grantee
shall have the immediate right (notwithstanding the provisions of Section 3) to
exercise all of the SARs, subject to the requirements of Section 8.
Notwithstanding anything in this Agreement to the contrary, in the event of a
Change in Control, the Compensation Committee may require that the Grantee
exercise the SARs within a prescribed period shorter than the term of this
Agreement or otherwise completely forfeit the SARs.

     6. Exercise of SARs. The SARs may be exercised by delivery of a completed
Notice of Exercise of SARs (obtainable from the Designated Representative)
setting forth the number of SARs being exercised to the Designated
Representative at the address listed in Section 12(i).

     7. Distributions.

          (a) Definitions.

               i. Exercise Date. The "Exercise Date" is the date that the
          Designated Representative accepts delivery of a properly completed
          Notice of Exercise of SARs.

               ii. Exercise Price. The "Exercise Price" is the closing price of
          a share of Common Stock (as reported in the principal consolidated
          transaction reporting system for the New York Stock Exchange) on the
          Effective Date which is set forth in Section 2. Except as otherwise
          provided in Section 12(a), the Compensation Committee cannot adjust
          the Exercise Price after the Effective Date.

          (b) Distribution Value. Except as may otherwise be provided in Section
     9(e) of the Plan (relating to the Exercise Price for exercises by Section
     16 Persons under limited circumstances) and Section 8 of this Agreement,
     upon exercise of SARs, the Grantee will be entitled to a distribution equal
     to the product of i. and ii., where:

                                        3
<PAGE>
               i. equals the number of SARs being exercised; and

               ii. equals the excess of the closing price of a share of Common
          Stock (as reported in the principal consolidated transaction reporting
          system for the New York Stock Exchange) on the Exercise Date over the
          Exercise Price.

          (c) Procedures. Except as the Compensation Committee may otherwise
     direct in its sole and exclusive discretion, the Designated Representative
     will distribute to the Grantee, as soon as practicable after the Exercise
     Date, shares of Common Stock with a Fair Market Value equal to the
     distribution value and cash in an amount equal to the value of any
     fractional share.

     8. Sale of Shares of Stock to Satisfy Tax Obligations. Prior to issuing
shares of stock pursuant to Section 7, the Compensation Committee will cause to
be sold a portion of the stock sufficient to satisfy the Grantee's projected tax
liability (as described in Section 14 of the Plan) resulting from the exercise
of SARs. The Grantee will provide such irrevocable Stock Powers or additional
information and documentation as the Company deems necessary to complete such
sale. The Compensation Committee will cause the proceeds of such sale to be
delivered to the appropriate taxing authorities in satisfaction of such tax
liabilities. The Compensation Committee may, in its sole and exclusive
discretion, require that any distributions to the Grantee's Beneficiary or
Beneficiaries be subject to this sale requirement.

     9. Designation of Beneficiary. By properly executing and delivering a
Designation of Beneficiary Form to the Designated Representative at the address
listed in Section 12(i), the Grantee may designate an individual or individuals
as his or her Beneficiary or Beneficiaries under the Plan. In the event that the
Grantee fails to properly designate a Beneficiary, his or her interests under
the Plan will pass to the person or persons in the first of the following
classes in which there are any survivors: (i) spouse at the time of death; (ii)
issue, per stirpes; (iii) parents; and (iv) the executor or administrator of
estate. Except as the Compensation Committee may determine in its sole and
exclusive discretion, a properly completed Designation of Beneficiary Form shall
be deemed to revoke all prior designations upon its receipt and approval by the
Designated Representative.

     10. Non-Transferability and Certificate Legends. The SARs have not been
registered under the Securities Act of 1933, as amended (the "Act"). The SARs
and any shares of Common Stock distributed to the Grantee or a Beneficiary may
not be sold, transferred or otherwise disposed of unless a registration
statement under the Act with respect to the SARs or Common Stock, as applicable,
has become effective or unless the Grantee or Beneficiary establishes to the
satisfaction of the Company that an exemption from such registration is
available. The shares of Common Stock will bear legends stating the substance of
any such restrictions, as well as any other restrictions the Compensation
Committee deems necessary or appropriate.

     11. Termination of Agreement. This Agreement will terminate on the earliest
of: (1) the date my employment with the Company, its Subsidiaries or Allied
Enterprises terminates and I do not have a vested interest in the SARs; (2) the
date immediately preceding the tenth (10th) anniversary of the date of this
Agreement; or (3) such date as may be designated by the

                                        4
<PAGE>
Company's Board of Directors or Compensation Committee. Any terms or conditions
of this Agreement that the Company determines are necessary to effectuate its
purposes will survive the termination of this Agreement.

     12. Miscellaneous Provisions.

          a.   Effect of Corporate Reorganization or other Changes Affecting
               Number or Kind of Common Stock. In the event of a liquidation,
               recapitalization, reorganization, redesignation or
               reclassification, split-up, reverse split, merger, consolidation,
               stock dividend, combination, exchange for other securities, a
               sale of all or substantially all assets or the like with respect
               to the Company or its Common Stock, the Compensation Committee
               may appropriately adjust the number and kind of stock
               appreciation rights under this Agreement to reflect such change.
               As used in this Agreement, the term "SARs" will be deemed to
               include any such stock appreciation rights.

          b.   Successors in Interest. This Agreement will bind and inure to the
               benefit of the Company and the Grantee, and their respective
               successors, assigns and legal representatives.

          c.   Integration. This Agreement, together with the Plan, constitutes
               the entire agreement between the Grantee and the Company with
               respect to the subject matter hereof, and may not be modified,
               amended, renewed or terminated, nor may any term, condition or
               breach of any term or condition be waived, except pursuant to the
               terms of the Plan or by a writing signed by the person or persons
               sought to be bound by such modification, amendment, renewal,
               termination or waiver. Any waiver of any term, condition or
               breach thereof will not be a waiver of any other term or
               condition or of the same term or condition for the future, or of
               any subsequent breach.

          d.   Notice. Any notice relating to this grant must be in writing.

          e.   No Employment Right Created. Nothing in this Agreement will be
               construed to confer upon the Grantee the right to continue in the
               employment or service of the Company, its Subsidiaries or Allied
               Enterprises, or to be employed or serve in any particular
               position therewith, or affect any right which the Company, its
               Subsidiaries or an Allied Enterprise may have to terminate the
               Grantee's employment or service with or without cause.

          f.   Separability. In the event of the invalidity of any part or
               provision of this Agreement, such invalidity will not affect the
               enforceability of any other part or provision of this Agreement.

                                        5
<PAGE>
          g.   Section Headings. The section headings of this Agreement are for
               convenience and reference only and are not intended to define,
               extend or limit the contents of the sections.

          h.   Amendment, Waiver and Revocation of Terms. Except as otherwise
               provided in the Plan and Section 12(k) of this Agreement, the
               Compensation Committee may waive any term or condition in this
               Agreement that could have been excluded on the date of grant. No
               such waiver will be deemed to be a waiver of similar terms under
               other agreements. Except as otherwise provided in the Plan and
               Section 12(k) of this Agreement, the Compensation Committee may
               amend this Agreement to include or exclude any provision which
               could have been included in, or excluded from, this Agreement on
               the date of grant, but only with my written consent. Similarly,
               the Compensation Committee may revoke this Agreement at any time
               except that, after execution of the Agreement and its delivery to
               the Designated Representative, revocation may only be
               accomplished with my written consent.

          i.   Plan Administration. The Plan is administered by the Compensation
               Committee, which has sole and exclusive power and discretion to
               interpret, administer, implement, construe and determine benefits
               under the Plan and this Agreement. All elections, notices and
               correspondence relating to the Plan should be directed to the
               Designated Representative at:

                    RPM International Inc.
                    P.O. Box 777
                    2628 Pearl Road
                    Medina, OH 44258
                    Attn: Director of Human Resources & Administration

          j.   Governing Law. Except as may otherwise be provided in the Plan,
               this Agreement will be governed by, construed and enforced in
               accordance with the internal laws of the State of Delaware,
               without giving effect to its principles of conflict of laws.

          k.   Internal Revenue Code Section 409A. Notwithstanding anything in
               the Plan or this Agreement to the contrary, the SARs are intended
               to meet any applicable requirements for exclusion from coverage
               under Section 409A of the Internal Revenue Code (the "Code") and
               this Agreement shall be construed and administered accordingly.
               Without limiting the foregoing, unless and until different
               requirements for exclusion from coverage under Section 409A of
               the Code become available or effective: (1) the SARs exercise
               price may never be less than the Fair Market Value of the
               underlying Common Stock on the date of this Agreement (and Fair
               Market Value shall be determined in a manner consistent with any
               applicable requirements for exclusion from coverage); (2) only
               Common Stock may

                                        6
<PAGE>
               be delivered in settlement of the SARs upon exercise; and (3) in
               no event shall the Grantee be permitted to defer compensation
               relating to the SARs (except for the inherent deferral of
               recognition of income until the exercise of the SARs) under the
               Plan or otherwise. Furthermore, in the event that the
               requirements for exclusion from coverage under Section 409A are
               liberalized, or different features are made available contingent
               upon compliance with certain requirements, the Committee may, in
               its sole and absolute discretion, amend this Agreement in a
               manner consistent with those liberalized requirements or to
               permit the Company, the Grantee or both to take advantage of
               those different features.

     IN WITNESS WHEREOF, THE Company has caused this Agreement to be executed on
its behalf by its duly authorized officer and the Grantee has hereunto set his
hand.

Grantee                                 RPM International Inc.

-------------------------------------   ----------------------------------------

Print Name:                             By:
            -------------------------       ------------------------------------
Date:                                   Its:
      -------------------------------        -----------------------------------
                                        Date:
                                              ----------------------------------

                                        7

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