Document:

Form of MLO Guaranty

 Exhibit 10.9 
  
 FORM OF GUARANTY 
  
 This Guaranty (“Guaranty”) is made as of this 31st day of January, 2005 by and among the undersigned domestic subsidiaries (each a
“Guarantor” and any and all collectively, the “Guarantors”) of Oglebay Norton Company, an Ohio corporation (“Buyer”) in favor of Johnson Mining Inc., a Delaware corporation, The Cary Mining Company Inc., a Delaware
corporation, and Michigan Minerals Associates, Inc., a Delaware corporation (each individually, a “Seller, and collectively, “Sellers”). 
  
 Background 
  
 A. On April 14, 2000, Oglebay Norton Company, a Delaware corporation (“ONCO”), Sellers, and Michigan Limestone Operations Limited Partnership (“MLO”)
entered into an Interest Purchase Agreement (the “Original Purchase Agreement”) for the sale of all of the general and limited partnership interests in MLO, all of the membership interests in MLO-Ohio Ltd., an Ohio limited liability
company (“MLO-Ohio”), and all of the membership interests of Michigan Equipment Leasing L.L.C., a Michigan limited liability company (“MEL”) and ONCO assigned its rights under the Original Purchase Agreement to Michigan Limestone
Operations, Inc., a Michigan corporation formerly known as “Global Stone Port Inland, Inc.” (the “Company”). 
  
 B. Following the consummation of the transactions contemplated by the Original Purchase Agreement, MLO dissolved, and MLO-Ohio and MEL were merged with and into the
Company. Accordingly, the Company became the owner of the business and assets formerly owned by MLO, MLO-Ohio, and MEL. On May 1, 2001, ONCO was merged into the Buyer, with the Buyer as the surviving corporation. 
  
 C. On February 23, 2004, Buyer and the Guarantors (collectively, the “Debtors”)
filed for bankruptcy protection under Chapter 11 of the U.S. Bankruptcy Code (the “Chapter 11 Cases”) in the United States Bankruptcy Court for the District of Delaware. In connection with the Chapter 11 Cases and the Debtors’ Second
Amended Joint Plan of Reorganization, dated July 30, 2004 (as the same may be amended, modified or supplemented, the “Plan”), Buyer, Sellers and the Company wish to amend and modify the Contingent Payments provided for in the Original
Purchase Agreement. Accordingly, on even date herewith, Buyer, Sellers and the Company have entered into that certain Amendment No. 1 to Interest Purchase Agreement (the “Amendment”). As used herein, the term “Plan” refers to a
plan of reorganization incorporating the assumption and, to the extent necessary, assignment of the Original Purchase Agreement, as amended by the Amendment (as amended, the “Purchase Agreement”). 
  
 D. As a condition to modifying and amending the Contingent Payments under the Purchase
Agreement and as adequate assurance of future performance of the Purchase Agreement, pursuant to section 365 of the Bankruptcy Code, 11 U.S.C. §§ 101–1330 (the “Bankruptcy Code”), Sellers have requested that the Guarantors
enter into this Guaranty. 

 E. Capitalized terms used and not otherwise defined will have the meanings ascribed to such terms in the Purchase
Agreement. 
  
 In consideration of the mutual covenants,
representations, and agreements set forth in this Guaranty and intending to be bound, the parties agree as follows: 
  
 Agreement 
  
 1. Effective Date. This Guaranty shall become effective upon (a) the occurrence of the Effective Date (as such term is defined in the Plan) and (b) the assumption by Buyer and, to the extent necessary, assignment to the reorganized
Buyer of the Purchase Agreement, pursuant to section 365 of the Bankruptcy Code and Section V.A of the Plan, as of the Effective Date. 
  
 2. Representations and Warranties. Each of the Guarantors represents and warrants that: 
  
 (a) It is a corporation, limited liability company, partnership, or other
business organization duly incorporated or formed, validly existing and in good standing under the laws of its jurisdiction of incorporation, organization or formation and has all requisite authority to conduct its business in each jurisdiction in
which its business is located. 
  
 (b) It has the power and
authority to execute and deliver this Guaranty and to perform its obligations under this Guaranty. The execution and delivery by it of this Guaranty and the performance of its obligations under this Guaranty have been duly authorized by proper
company proceedings, and this Guaranty constitutes a legal, valid and binding obligation of the Guarantor enforceable against it in accordance with its terms, except as enforceability may be limited by bankruptcy, insolvency or similar laws
affecting the enforcement of creditors’ rights generally. 
  
 (c) Neither the execution and delivery by it of this Guaranty, nor the consummation of the transactions contemplated by this Guaranty, nor compliance with the provisions of this Guaranty will violate (i) any law, rule, regulation, order,
writ, judgment, injunction, decree or award binding on it or any of its subsidiaries, (ii) its articles or certificate of incorporation, articles or certificate of organization or operating or other management agreement or (iii) the provisions of
any indenture, instrument or agreement to which it or any of its subsidiaries is a party or is subject, or by which it, or any of its property or assets, is bound, or conflict with or constitute a default, or result in, or require, the creation or
imposition of any lien in, of or on any of the property or assets of the Guarantor or any subsidiary pursuant to the terms of any such indenture, instrument or agreement. No order, consent, adjudication, approval, license, authorization, or
validation of, or filing, recording or registration with, or exemption by, or other action in respect of any governmental or public body or authority, or any subdivision of any governmental or public body or authority, which has not been obtained by
it or any of its subsidiaries, is required to be obtained by it or any of its subsidiaries in connection with the execution and delivery of this Guaranty or the performance by it of its obligations under this Guaranty or the legality, validity,
binding effect or enforceability of this Guaranty. 
  

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 3. Guaranty. Each of the Guarantors unconditionally and irrevocably guarantees, jointly with the
other Guarantors and severally, the full and punctual payment when due of all contingent payments due from the Buyer under the Purchase Agreement, as the Purchase Agreement may be amended after the date of this Guaranty (the “Guaranteed
Obligations”), including without limitation, (i) the 2003 Payment, (ii) the Tonnage Payment, (iii) the Second Tonnage Payment, and (iv) the EBITDA Payment. Upon the failure by the Buyer to pay punctually any such amount, each of the Guarantors
agrees that it will on demand pay such amount at the place and in the manner specified in the Purchase Agreement; provided, however, that Sellers are not entitled to recover any more than any amount they are due at the time; there
shall be no double recovery for any Seller. Each of the Guarantors agrees that this Guaranty is an absolute, irrevocable and unconditional guaranty of payment and is not a guaranty of collection. 
  
 4. Guaranty Unconditional. The obligations of each of the Guarantors
is unconditional and absolute and, without limiting the generality of the foregoing, will not be released, discharged or otherwise affected by: 
  
 (a) Any extension, renewal, or settlement in respect to the Guaranteed Obligations or any part of the Guaranteed Obligations, or with respect to any
obligation of any other guarantor of any of the Guaranteed Obligations, whether (in any such case) by operation of law or otherwise, or any failure or omission to enforce any right, power or remedy with respect to the Guaranteed Obligations or any
part of the Guaranteed Obligations or any agreement relating to the Guaranteed Obligations, or with respect to any obligation of any other guarantor of any of the Guaranteed Obligations. 
  
 (b) Any modification or amendment of or supplement to the Purchase Agreement. 
  
 (c) Any other guaranties with respect to the Guaranteed Obligations or any
other obligation of any person or entity with respect to the Guaranteed Obligations; provided, however, that Sellers are not entitled to recover any more than any amount they are due at the time; there shall be no double recovery for
any Seller. 
  
 (d) Any change in the corporate, partnership or
other existence, structure or ownership of the Buyer or any other guarantor of any of the Guaranteed Obligations, or any insolvency, bankruptcy, reorganization or other similar proceeding affecting the Buyer or any other guarantor of the Guaranteed
Obligations, or any of their respective assets or any resulting release or discharge of any obligation of the Buyer or any other guarantor of any of the Guaranteed Obligations. 
  
 (e) The existence of any claim, setoff or other rights which the Guarantors may have at any time against the Buyer, any
other guarantor of any of the Guaranteed Obligations, whether in connection with this Guaranty or in connection with any unrelated transactions, provided that nothing in this Guaranty shall prevent the assertion of any such claim by separate suit or
compulsory counterclaim. 
  

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 (f) The enforceability or validity of the Guaranteed Obligations or any part of the Guaranteed
Obligations or the genuineness, enforceability or validity, or any other invalidity or unenforceability relating to or against the Buyer or any other guarantor of any of the Guaranteed Obligations, for any reason related to the Purchase Agreement or
any provision of applicable law or regulation purporting to prohibit the payment by the Buyer or any other guarantor of the Guaranteed Obligations, of any of the Guaranteed Obligations. 
  
 (g) The failure of any other Guarantor to sign or become party to this Guaranty, or to any amendment, change, or
reaffirmation of this Guaranty. 
  
 (h) Any other occurrence or
circumstance which might otherwise constitute a legal or equitable defense or discharge of the liabilities of any other guarantor or surety or which might otherwise limit recourse against Guarantor. 
  
 5. Discharge; Reinstatement In Certain Circumstances. Each of the
Guarantors’ obligations will remain in full force and effect until all Guaranteed Obligations have been paid in full. Notwithstanding the foregoing, any given Guarantor’s obligations will automatically terminate, and this Guaranty will be
of no further force and effect as against such Guarantor, at such time as the Buyer determines to remove such Guarantor from its status as a domestic subsidiary of Buyer (whether as a result of the sale of the assets or stock of such Guarantor or
otherwise) so long as no Event of Default has occurred and is continuing at such time. If at any time any payment of the Guaranteed Obligations is rescinded or must be otherwise restored or returned upon the insolvency, bankruptcy or reorganization
of the Buyer or otherwise, each of the Guarantors’ obligations with respect to such payment will be reinstated as though such payment had been due but not made at such time. 
  
 6. Waivers. Without limiting the generality of the foregoing, the Guarantors unconditionally waive (a) any right of
subrogation to the rights of the Sellers against the Buyer, (b) the Sellers’ acceptance of this Guaranty, (c) any set-offs or counterclaims against the Sellers which would otherwise impair the Sellers’ rights against the Guarantors, (d)
any demand or notice of any action that the Sellers take regarding the Buyer or the Guaranteed Obligations, which any Guarantor might be entitled to by law or under any other agreement, and (e) any requirement of diligence on the part of anyone.

  
 7. Subrogation. Each of the Guarantors agrees not to
assert any right, claim, or cause of action, including a claim for subrogation, reimbursement, indemnification or otherwise, against the Buyer arising out of or by reason of the Guaranty or the Guaranteed Obligations. 
  
 8. Stay of Acceleration. If acceleration of the time for payment of
any amount payable by the Buyer under the Purchase Agreement is stayed upon the insolvency, bankruptcy or reorganization of Buyer, all such amounts otherwise subject to acceleration under the terms of the Purchase Agreement will nonetheless be
payable by each of the Guarantors. 
  
 9. Subordination.

  
 (a) Each of the Sellers and Buyer acknowledges that the
Contingent Payment and the obligations in respect of the Guaranty and all other amounts from time to time to be paid to the Sellers hereunder or thereunder (including, without 

  

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limitation, any premium, fees, interest and expenses that accrue or are payable (or that would accrue and be payable but for such case, proceeding or other
action) after the commencement of any case, proceeding or other action relating to the bankruptcy, insolvency or reorganization of the Buyer and/or its subsidiaries (whether or not such fees, interest or expenses are allowed or allowable as a claim
in such case, proceeding or other action), the “Subordinated Debt”) are and shall continue to be unsecured and fully subordinated and junior in all respects to the obligations and indebtedness under the senior secured credit facility in
the original principal amount of $320,000,000 that will be entered into by the reorganized Buyer and certain of its affiliates, the agents and lenders party thereto on the Effective Date (as such facility is amended, restated, waived, supplemented,
extended, modified, increased, replaced or refinanced, with or without notice to Sellers, from time to time, the “Confirmation Facility”). 
  
 (b) Buyer shall not make, and shall not permit any of its subsidiaries to make, and Sellers shall not demand, accept or receive, any payment in respect of
the Subordinated Debt if either immediately before such payment or immediately after giving effect to such payment, an “Event of Default” under and as defined in the Confirmation Facility shall exist. 
  
 (c) Unless and until all Confirmation Facility Debt (as defined below) has
been Paid in Full (as defined below), the Sellers shall not join with any creditor in commencing any proceeding under any insolvency, bankruptcy, receivership, liquidation, reorganization or other similar law, unless the collateral agent under the
Confirmation Facility shall also join in bringing such proceeding; provided that, the foregoing shall not prohibit the Sellers from filing a proof of claim in any such proceeding not commenced by the Sellers. 
  
 (d) In the event of any insolvency proceedings, and any receivership,
liquidation, reorganization or other similar proceedings in connection therewith, relative to the Buyer or any of its subsidiaries or to their creditors, in their capacity as creditors of the Buyer or any of its subsidiaries, or to substantially all
of their property, and in the event of any proceedings for voluntary liquidation, dissolution or other winding up of the Buyer or any of its subsidiaries, whether or not involving insolvency or bankruptcy, then: 
  
 (i) the holders of the Confirmation Facility Debt shall first be Paid in
Full before the Sellers would be entitled to receive any payment on account or in respect of the Subordinated Debt; 
  
 (ii) any payment or distribution of assets of the Buyer or any of its subsidiaries of any kind or character, whether in cash, property or securities to
which the Sellers are entitled under the terms of the Purchase Agreement, but for the provisions of this Section 9, shall be paid or distributed by the liquidating trustee or agent or other person making such payment or distribution, whether a
trustee in bankruptcy, a receiver or liquidating trustee or other trustee or agent, directly to the administrative agent under the Confirmation Facility to be applied 

  

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to the Confirmation Facility Debt in accordance with the terms of the Confirmation Facility to the extent necessary to result in the Confirmation Facility
Debt being Paid in Full; 
  
 (e) Should any payment or
distribution or security or the proceeds of any thereof be collected or received by the Sellers in respect of the Subordinated Debt, at a time when the payment thereof by the Buyer or any of its subsidiaries is prohibited by the terms of this
Section 9, the Sellers shall forthwith deliver the same to the administrative agent under the Confirmation Facility in precisely the form received (except for the endorsement or the assignment of or by the Sellers where necessary) for application to
payment of all Confirmation Facility Debt in accordance with the terms of the Confirmation Facility until the Confirmation Facility Debt is Paid in Full, and, until so delivered, the same shall be held in trust by the Sellers as the property of the
holders of the Confirmation Facility Debt. 
  
 (f) The Sellers
agree that, in the event that all or any part of any payment made on account of the Confirmation Facility Debt is recovered from the holders of Confirmation Facility Debt as a preference, fraudulent transfer or similar payment under any bankruptcy,
insolvency or similar law, any payment or distribution received by the Sellers on account of the Subordinated Debt at any time after the date of the payment so recovered shall be deemed to have been received by the Sellers in trust as the property
of the holders of the Confirmation Facility Debt and the Sellers shall forthwith deliver the same to the administrative agent under the Confirmation Facility to be applied to the Confirmation Facility Debt in accordance with the terms of the
Confirmation Facility until the Confirmation Facility Debt is Paid in Full. 
  
 (g) The Sellers acknowledge and agree that the holders of the Confirmation Facility Debt have relied upon and shall continue to rely upon the subordination provided for herein in entering into the agreements relating
to Confirmation Facility Debt and in extending credit to the Buyer or any of its subsidiaries pursuant thereto. 
  
 (h) Any assignment or other transfer by the Sellers or Buyer or any of it subsidiaries of their rights or obligations under this Agreement or the Guaranty
shall be made expressly subject to this Section 9, and each assignment in contravention of this Section 9(h) shall be null and void. 
  
 (i) The subordination provisions contained herein are solely for the benefit of the holders of the Confirmation Facility Debt from time to time and, so
long as the Confirmation Facility Debt has not been Paid in Full, this Section 9 may not be rescinded, cancelled, modified or amended in any way without the prior written consent thereto of the collateral agent and administrative agent under the
Confirmation Facility. No other party, including any creditor or equity holder of the Debtors, is entitled to the benefit of the subordination provisions contained in this Section 9. 
  

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 10. Notices. All notices that are required or permitted under this Guaranty must be in writing and
will be sufficient if personally delivered or sent by registered or certified mail, return receipt requested, facsimile message (provided that a confirmation sheet is emitted from the machine making the transmission), or Federal Express, or other
nationally recognized, overnight delivery service. Any notices will be deemed given upon the earlier of the date when received at, or the third day after the date when sent by registered or certified mail or the day after the date when sent by
Federal Express, or other nationally recognized, overnight delivery service to, the address or fax number set forth below, unless such address or fax number is changed by notice to the other party given in accordance with the foregoing notice
procedures: 
  
 If to Buyer: 
  
 Oglebay Norton Company 
 North Point Tower 
 15th Floor 
 1001 Lakeside Avenue 
 Cleveland, OH 44114-3300 
 FAX: 216-861-3300 
 Attention:  Chief Financial Officer 
                   General Counsel 
  
 With required copies to: 
  
 If to Sellers, to Sellers’ Representative: 
  
 Jim Rhude 
 605 West 37th Street 
 Hibbing, Minnesota 55746 
  
 With a required copy to:

  
 Dykema Gossett PLLC 
 1577 North Woodward Avenue, Suite 300 
 Bloomfield Hills, Michigan 48304-2820 
 FAX: 248-203-0763 
 Attention: Donald M. Crawford, Esq. 
  
 If to Guarantor: 
  
 Oglebay Norton Company 
 North Point Tower 
 15th Floor 
 1001 Lakeside Avenue 
 Cleveland, OH 44114-3300 
 FAX: 216-861-3300 
 Attention: Rochelle F. Walk, Esq. 
  

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 11. No Waivers. No failure or delay by the Sellers in exercising any right, power or privilege
under this Guaranty will operate as a waiver nor will any single or partial exercise preclude any other or further exercise or the exercise of any other right, power or privilege. The rights and remedies provided in this Guaranty and the Purchase
Agreement will be cumulative and not exclusive of any rights or remedies provided by law. 
  
 12. No Duty to Advise. Each Guarantor assumes all responsibility for being and keeping itself informed of the financial condition and assets of the Buyer and of all other circumstances bearing upon the risk of
nonpayment of the Guaranteed Obligations and the nature, scope and extent of the risks that the Guarantors assume and incur under this Guaranty, and agree that the Sellers do not have any duty to advise the Guarantors of information known to it
regarding those circumstances or risks. 
  
 13. Successors and
Assigns. This Guaranty is for the benefit of the Sellers and their respective successors and permitted assigns and in the event of an assignment of any amounts payable under the Purchase Agreement to the extent applicable to the indebtedness so
assigned, will be transferred with such indebtedness. This Guaranty will be binding upon the Guarantors and their successors and permitted assigns. 
  
 14. Changes in Writing. Other than in connection with the addition of additional domestic subsidiaries of the Company which become parties to this
Guaranty by executing an addendum in the form attached as Exhibit A, neither this Guaranty nor any provision of this Guaranty may be changed, waived, discharged or terminated orally, but only in writing signed by the Guarantors with the
consent of the Sellers. 
  
 15. GOVERNING LAW; WAIVER OF JURY
TRIALS. THIS GUARANTY WILL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF OHIO. EACH OF THE GUARANTORS, AND THE SELLERS ACCEPTING THIS GUARANTY, IRREVOCABLY WAIVE ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL
PROCEEDING ARISING OUT OF OR RELATING TO THIS GUARANTY OR THE TRANSACTIONS CONTEMPLATED BY THIS GUARANTY. 
  
 16. Taxes, etc. All payments required to be made by each Guarantor under this Guaranty will be made without setoff or counterclaim and free and
clear of and without deduction or withholding for or on account of, any present or future taxes, levies, imposts, duties or other charges of whatsoever nature imposed by any government or any political or taxing authority thereof; provided,
however, that if any Guarantor is required by law to make such deduction or withholding, the Guarantor will forthwith (i) pay to the Sellers such additional amount as results in the net amount received by the Sellers equaling the full amount
which would have been received by the Sellers, had no such deduction or withholding been made, (ii) pay the full amount deducted to the relevant authority in accordance with applicable law, and (iii) furnish to the Sellers, certified copies of
official receipts evidencing payment of such withholding taxes within 30 days after such payment is made. 
  
 17. Setoff. Without limiting the rights of the Sellers under applicable law, if all or any part of the Guaranteed Obligations is then due, whether
pursuant to the occurrence of an Event of Default or otherwise, then the Guarantor authorizes the Sellers to apply any sums standing to the credit of the Guarantor with the Sellers toward the payment of the Guaranteed Obligations. 
  

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 18. Costs and Expenses. The Guarantors, jointly and severally, shall pay or reimburse Sellers on
demand for all out-of-pocket expenses (including in each case all reasonable fees and expenses of legal counsel) incurred by Sellers arising out of or in connection with any failure of any Guarantor to fully and timely perform any obligations under
this Guaranty. 
  
 (SIGNATURE PAGE TO FOLLOW) 
  

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 The parties hereto agree to be bound by this Guaranty, in accordance with its terms, as of the Effective
Date of the Plan. 
  
 [GUARANTOR] 
  

			
	By:	 	  

	Name:	 	 
	Title:	 	 

  
 [GUARANTOR] 
  

			
	By:	 	  

	Name:	 	 
	Title:	 	 

  

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 EXHIBIT A 
  

Reference is made to the Guaranty (the “Guaranty”) made as of the
             day of January, 2005, by and among the domestic subsidiaries of Oglebay Norton Company (“Buyer”) listed on the signature pages to the Guaranty (the
“Initial Guarantors” and along with any additional domestic subsidiaries of the Company, which become parties to the Guaranty and together with the undersigned, the “Guarantors”) for the benefit of Johnson Mining Inc., The Cary
Mining Company, Inc., and Michigan Minerals Associates, Inc. Capitalized terms used and not otherwise defined will have the meanings given to them in the Guaranty. By its execution below, the undersigned [insert name of new guarantor], a
[corporation] [partnership] [limited liability company], agrees to become, and does become, a Guarantor under the Guaranty and agrees to be bound by the Guaranty as if originally a party. By its execution below, the undersigned represents and
warrants as to itself that all of the representations and warranties contained in Section 2 of the Guaranty are true and correct in all respects as of the date written above. 
  
 [Name of Guarantor] has executed and delivered this Exhibit A to the Guaranty as of the date stated above.

  

			
	 By:
	 	  

	Name:	 	 
	Title:	 	 

  

 11Change in Control and Employment Agreement--Michael D. Lundin

 Exhibit 10.10 
  
 CHANGE IN CONTROL AND EMPLOYMENT AGREEMENT 
  
 THIS CHANGE IN CONTROL AND EMPLOYMENT AGREEMENT is entered into on this 31st day of January 2005, by and between OGLEBAY NORTON COMPANY, an Ohio corporation (the “Company”), and MICHAEL D. LUNDIN (“Employee”).

  
 W I T N E S S E T H: 
  
 WHEREAS, Employee is an executive and key employee who has been employed by
Oglebay Norton Management Company (the “Subsidiary”) and serves the Company as its President and Chief Executive Officer; 
  
 WHEREAS, the Company desires to assure itself of continuity of management in the event of any threatened or actual Change in Control (as hereafter
defined); 
  
 WHEREAS, the Company desires to assure itself, in
the event of any threatened or actual Change in Control, of the continued performance of services by Employee on an objective and impartial basis and without distraction by concern for his employment status and security; 
  
 WHEREAS, Employee is willing to continue in the employ of the Company but
desires assurance that his responsibilities and status as an executive of the Company or Subsidiary will not be adversely affected by any threatened or actual Change in Control; 
  
 NOW, THEREFORE, the Company and Employee agree as follows: 
  
 1. Operation of Agreement. This Agreement shall be effective and binding immediately upon its execution, but,
anything in this Agreement to the contrary notwithstanding, this Agreement shall not be operative unless and until there has been a Change in Control while Employee is in the employ of the Company. For purposes of this Agreement, a Change in Control
shall have occurred if at any time any of the following events occurs: 
  
 (a) a report is filed with the Securities and Exchange Commission (the “SEC”) on Schedule 13D or Schedule 14D-1 (or any successor schedule, form, or report), each as promulgated pursuant to the Securities
Exchange Act of 1934 (the “Exchange Act”), disclosing that any “person” (as the term “person” is used in Section 13(d) or Section 14(d)(2) of the Exchange Act), other than Ingalls & Snyder and any of their
respective affiliates, is or has become a beneficial owner, directly or indirectly, of securities of the Company representing 50% or more of the combined voting power of the Company’s then outstanding securities; 
  
 (b) the Company files a report or proxy statement with the
SEC pursuant to the Exchange Act disclosing in response to Item 5.01 of Form 8-K thereunder or Item 5(f) of Schedule 14A thereunder that a Change in Control of the Company has or may have occurred or will or may occur in the future pursuant to any
then-existing contract or transaction, provided that a Form 8-K filed in connection with consummation of the Company’s plan of reorganization with respect to the Company’s petition for reorganization under chapter 11 of the Bankruptcy Code
filed on February 23, 2004 shall not be a Change in Control for purposes of this Agreement; 

 (c) the Company is merged or consolidated with another corporation and, as a result
thereof, securities representing less than 50% of the combined voting power of the surviving or resulting corporation’s securities (or of the securities of a parent corporation in case of a merger in which the surviving or resulting corporation
becomes a wholly-owned subsidiary of the parent corporation) are owned in the aggregate by holders of the Company’s securities immediately prior to such merger or consolidation; 
  
 (d) all or substantially all of the assets of the Company are sold in a single transaction or a series of
related transactions to a single purchaser or a group of affiliated purchasers; or 
  
 (e) during any period of 24 consecutive months, individuals who were Directors of the Company at the beginning of such period cease to
constitute at least a majority of the Company’s Board of Directors (the “Board”) unless the election or appointment, or nomination for election by the Company’s shareholders, of more than one half of any new Directors of the
Company was approved by a vote of at least two-thirds of the Directors of the Company then still in office who were Directors of the Company at the beginning of such 24 month period. 
  
 The first date on which a Change in Control occurs is referred to herein as the “Change in Control Date.” Upon the occurrence of a
Change in Control while Employee is in the employ of the Subsidiary, this Agreement shall become immediately operative subject, however, to the provisions of Paragraph 2, below. 
  
 2. Possible “Undoing” of a Change in Control. If a report is filed with the SEC disclosing that a person
(the “Acquiror”) is or has become a beneficial owner, directly or indirectly, of securities of the Company representing 50% or more of the combined voting power of the Company’s outstanding securities and, as a result of that filing,
a Change in Control, as defined in Paragraph 1(a), above, occurs, while Employee is in the employ of the Company, then, as provided in Paragraph 1, above, this Agreement will become immediately operative. However, if: 
  
 (a) a Change in Control as described in Paragraph 1(a)
occurs while Employee is in the employ of the Subsidiary; 
  
 (b) the Acquiror subsequently transfers or otherwise disposes of sufficient securities of the Company in one or more transactions, to a person or persons other than affiliates of the Acquiror or any persons with whom
the Acquiror has agreed to act together for the purpose of acquiring, holding, voting or disposing of securities of the Company, so that, after such transfer or other disposition, the Acquiror is no longer the beneficial owner, directly or
indirectly, of securities of the Company representing 10% or more of the combined voting power of the Company’s then outstanding securities; 
  
 (c) at the time of the subsequent transfer or disposition that reduced the Acquiror’s holdings to less than 10% as provided in (b),
immediately above, no other event constituting a Change in Control had occurred; and 
  
 (d) at the time of the subsequent transfer or other disposition that reduced the Acquiror’s holdings to less than 10%,
Employee’s employment with the Subsidiary had not been terminated by the Subsidiary without cause or by Employee for good reason, 
  

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 then, for all purposes of this Agreement, the filing of the report constituting a Change in Control under Paragraph 1(a)
shall be treated as if it had not occurred and this Agreement shall return to the status it had immediately before the filing of the report constituting a Change in Control under Paragraph 1(a). Accordingly, if and when a new Change in Control
occurs, this Agreement will again become operative on the date of that new Change in Control. 
  
 3. Employment, Contract Period. 
  
 (a) Subject to the terms and conditions of this Agreement, upon the occurrence of a Change in Control, the Company shall cause the Subsidiary to continue to employ Employee and Employee shall continue in the employ of
the Subsidiary for the period specified in Paragraph 3(b) (the “Contract Period”), in the position and with the duties and responsibilities set forth in Paragraph 4. 
  
 (b) The Contract Period shall commence on the date of occurrence of a Change in Control (the “Change in
Control Date”) and, subject only to the provisions of Paragraph 11 below, shall continue for a period of twelve months to the close of business on the day (the “Contract Expiration Date”) falling twelve months after the Change in
Control Date. 
  
 4. Position, Duties, Responsibilities. At
all times during the Contract Period, Employee shall: 
  
 (a) hold the same position with substantially the same duties and responsibilities as an executive of the Subsidiary as Employee held immediately before the Change in Control Date and as those duties and responsibilities may be extended,
from time to time during the Contract Period, by the Board with Employee’s consent; 
  
 (b) adhere to and implement the policies and directives promulgated, from time to time, by the Board; 
  
 (c) observe all Company and Subsidiary policies applicable
to executive personnel of the Company and Subsidiary; and 
  
 (d) devote his business time, energy, and talent to the business of and to the furtherance of the purposes and objectives of the Company and the Subsidiary to generally the same extent as he has so devoted his
business time, energy, and talent before the Change in Control Date, and neither directly nor indirectly render any business, commercial, or professional services to any other person, firm, or organization for compensation without the prior approval
of the Board. 
  
 Nothing in this Agreement shall preclude Employee from devoting
reasonable periods of time to charitable and community activities or the management of his investment assets provided such activities do not materially interfere with the performance by Employee of his duties hereunder. 
  
 5. Compensation. For services actually rendered by Employee on behalf
of the Subsidiary during the Contract Period as contemplated by this Agreement, the Company shall cause to be paid to Employee a base salary at a rate equal to the highest of (a) the rate in effect immediately before the Change in Control Date or
(b) the rate in effect at any time during the two years preceding the Change in Control Date. The base salary shall be paid to Employee in the same increments and on the same schedule each month as in effect immediately before the Effective Date.
Employee shall not be entitled to any base salary during any period when he is receiving long-term disability benefits under the 

  

 3 

 
disability benefit arrangement provided to Employee by the Company. In addition, the Company shall also cause to be paid to Employee (a) in the event the
Change in Control Date occurs between January 1 and March 31 of a calendar year, an annual bonus (if not previously paid) for the year immediately preceding the year in which the Change in Control Date occurs determined in accordance with the
Company’s bonus plan (other than the Management Incentive Plan) as in effect immediately prior to the Change in Control Date for the preceding calendar year, such bonus to be paid to Employee no later than the March 31 first following the
Change in Control Date, and (b) an annual bonus for the year in which the Change in Control Date occurs determined in accordance with the Company’s bonus plan (other than the Management Incentive Plan) as in effect immediately prior to the
Change in Control Date and at a level no less than the target amount thereunder for the year in which the Change in Control Date occurs (the “Bonus Amount”), such bonus to be paid to Employee no later than the March 31 first following the
end of the calendar year in which the Change in Control Date occurs. . 
  
 6. Vacation. Employee will be entitled to such periods of vacation and sick leave allowance each year as are determined by the Subsidiary’s vacation and sick leave policy for executive personnel as in effect immediately before
the Change in Control Date or as may be increased from time to time thereafter. Neither vacation time nor sick leave allowance will be accumulated from year to year. 
  
 7. Other Company Plans, Benefits, and Perquisites. During the Contract Period Employee shall be entitled to
participate in the Company’s Pension Plan applicable to salaried employees (the “Salaried Plan”); the Incentive Savings and Stock Ownership Plan; and every other employee benefit plan or arrangement not specifically referred to in
this Agreement that is generally available to executive personnel of the Company and Subsidiary immediately before the Change in Control Date or that is specifically extended to Employee by the Company or the Subsidiary before the Change in Control
Date, whether or not Employee is eligible to participate in such plan or arrangement on the date of this Agreement. Employee’s participation in and benefits under any such plan or arrangement shall be on the terms and subject to the conditions
specified in the governing document of the particular plan or arrangement as in effect immediately before the Change in Control Date, which terms and conditions shall not be amended during the Contract Period unless the benefits to Employee are at
least as great under the plan or arrangement as amended (or under a substitute plan or arrangement) as were the benefits under the plan or arrangement as in effect immediately before the Change in Control Date. The Company or the Subsidiary will
also provide Employee with such perquisites during the Contract Period as the Company or the Subsidiary customarily provided to similarly situated executive personnel in the period immediately before the Change in Control Date. 
  
 8. Additional Benefit. If a Change in Control occurs and this
Agreement becomes operative and thereafter Employee’s employment is terminated by the Subsidiary without cause or by Employee for good reason, whether such termination occurs before, on, or after the Contract Expiration Date, the Company shall
cause to be paid and provided benefits to or with respect to Employee in such amounts and at such times so that the aggregate benefits payable to or with respect to Employee under the Salaried Plan and any Excess Benefit Plan maintained in
connection with the Salaried Plan and under this Agreement with respect to the Salaried Plan and any such Excess Benefit Plan will be equal to the aggregate benefits that would have been paid to or with respect to Employee under the Salaried Plan
and any such Excess Benefit Plan if Employee were exactly five years older than his actual age and his credit under the Salaried Plan and any such Excess Benefit Plan were equal to the greater of his actual service or the amount of service he is
deemed to have under Paragraph 12(a)(B), below. If Employee’s employment is terminated after a Change in Control by the Company without cause or by Employee for good reason and Employee is entitled to additional benefits by virtue of the
additional five years of deemed age provided for in this Paragraph 8, then the Company shall directly provide such benefits to Employee in the same manner as additional benefits are to be provided to Employee under Paragraph 12(a), below.

  

 4 

 9. Priority of Paragraphs 2 and 8. Paragraph 2 of this Agreement shall take precedence over
Paragraph 8 of this Agreement so that if a Change in Control occurs and is subsequently undone under Paragraph 2 of this Agreement, Employee will thereafter have no rights under Paragraph 8 of this Agreement unless and until a further Change in
Control occurs. 
  
 10. Effect of Disability. If during the
Contract Period and before his employment hereunder is otherwise terminated, Employee becomes disabled to such an extent that he is prevented from performing his duties hereunder by reason of physical or mental incapacity: (a) he shall be entitled
to disability and other benefits at least equal to those that would have been available to him had the Subsidiary continued, throughout the period of Employee’s disability, all of its programs, benefits, and policies with respect to disabled
employees that were in effect immediately before the Change in Control; and (b) if he recovers from his disability before the end of the Contract Period, he shall be reinstated as an active employee for the remainder of the Contract Period under and
subject to all of the terms of this Agreement including, without limitation, the Company’s right to terminate Employee with or without cause under Paragraph 11. 
  
 11. Termination Following a Change in Control. Following a Change in Control: 
  
 (a) Employee’s employment hereunder will terminate
without further notice upon the death of Employee; 
  
 (b) The Subsidiary may terminate Employee’s employment hereunder effective immediately upon giving notice of such termination, pursuant to (i) or (ii): 
  
 (i) For “cause,” (A) if Employee has an employment agreement in effect with the Subsidiary which
contains a definition of cause, then the definition of the term “cause” for purposes of this Agreement shall be as defined in such employment agreement, or (B) if the Employee does not have an employment agreement in effect with the
Subsidiary which contains a definition of cause, then “cause” for purposes of this Agreement shall mean (1) the Employee’s material failure to properly perform the Employee’s duties for the Company or Subsidiary (except due to
physical or mental impairment); (2) the Employee’s material violation of Company or Subsidiary policies as communicated to the Employee; (3) the Employee’s conviction of, or plea of nolo contendere to, a felony under the laws of the United
States or any state or political subdivision thereof; or (4) the commission of any other similar act by the Employee that brings the Company or a Subsidiary into substantial public disgrace or disrepute. Notwithstanding the foregoing,
“cause” shall not be deemed to exist under clause (B)(1), (B)(2) or (B)(4) unless the Company or Subsidiary provides the Employee with specific written notice of the facts relating to the event and the Employee does not cure such conduct
within ten (10) business days after the receipt of such notice. 
  
 (ii) Without cause at any time. 
  
 (c) Employee may terminate his employment hereunder effective immediately upon giving of notice of such termination: 
  
 (i) without cause at any time; or 
  

 5 

 (ii) for “good reason,” which, for purposes of this Agreement shall mean the
occurrence of any of the following: 
  
 (A) any
reduction in base salary or position or any material reduction in responsibilities or duties contemplated for Employee under this Agreement or any material reduction in the aggregate of employee benefits, perquisites, or fringe benefits contemplated
for Employee under this Agreement, provided that any particular reduction described in this clause (A) shall constitute “good reason” only if Employee terminates his employment within six months of the date of the reduction; 
  
 (B) any good faith determination by Employee that, as a
result of fundamental differences of opinion between Employee and the Board as to the goals of the Company or the Subsidiary, Employee is unable to carry out the responsibilities and duties contemplated for Employee under this Agreement, provided
that any determination by Employee described in this clause (B) shall constitute “good reason” only if Employee terminates his employment within six months of the Change in Control Date; or 
  
 (C) any material change in the geographic location of
Employee’s principal place of employment (e.g., if Employee’s principal place of employment is in Cleveland, Ohio, a change to a location outside of the greater Cleveland metropolitan area), provided that any such change described in this
clause (C) shall constitute “good reason” only if Employee terminates his employment within six months of the date of the Employee receives notice of the change in location. 
  
 12. Severance Compensation. 
  

(a) If, before the Contract Expiration Date, Employee’s employment is terminated by the Subsidiary without cause or by Employee
for good reason, then, except as provided in Paragraph 12(b), 12(c), or 12(d), the Company shall cause to be paid and provided to Employee (i) base salary at the highest monthly rate payable to Employee during the Contract Period through the last to
occur of (x) the expiration of six months after the effective date of the termination, and (y) the Contract Expiration Date (such last-to-occur date is hereinafter referred to as the “Severance Benefits Termination Date”) and a bonus award
accrued for the year in which such termination occurs determined in accordance with the Company’s bonus plan as in effect immediately prior to the Change in Control Date and at a level no less than the target amount thereunder for the year in
which such termination occurs; and (ii) the following benefits for a period of twelve months following the Contract Expiration Date: 
  
 (A) coverage under the Company’s medical insurance plan, short-term disability plan, long-term disability plan, salary continuation
arrangement, disability benefit arrangement, and executive life insurance benefit (provided that he became eligible to participate therein prior to the date his employment is terminated), each as in effect on the Change in Control Date (or, if
subsequently amended to increase benefits to Employee or his dependents, as so amended) and each as if Employee’s employment had continued through the Severance Benefits Termination Date; and 
  
 (B) coverage and service credit under the Salaried Plan and
any Excess Benefit Plan maintained in connection with the Salaried Plan under which he is eligible to participate so that the aggregate benefits payable to or with respect to the Employee under the Salaried Plan and any such Excess Benefit Plan will
be equal to the aggregate benefits that would have been paid to or with respect to Employee under the Salaried Plan and any such Excess Benefit Plan if Employee’s employment had continued through the Severance Benefits Termination Date.

  

 6 

 If any of the benefits to be provided under one or more of the plans, agreements, or arrangements
specified above cannot be provided through that plan, agreement, or arrangement to Employee following termination of his employment, the Company shall cause the full equivalent of such benefits to Employee. For example, since it is not possible to
provide additional service credit directly through the Salaried Plan, if Employee becomes entitled to an additional 18 months of service credit under the Salaried Plan pursuant to (B) above, the Company will be required to cause payment to Employee,
from its general assets or those of its Subsidiary, on each date on which Employee receives a payment from the Salaried Plan, a supplemental payment equal to the amount by which that particular payment under the Salaried Plan would have been
increased if Employee’s total service credit under the Salaried Plan were 18 months greater than is actually the case. In addition, if in these circumstances any payments become due under the Salaried Plan with respect to Employee following his
death, the Company will be obligated to cause similar supplemental payments with respect to Employee to be made on the dates on which payments are made with respect to Employee under the Salaried Plan. 
  
 (b) Notwithstanding the foregoing provisions of Paragraph
12(a), the Company shall cause any benefit to which Employee becomes entitled pursuant to the provisions of Paragraph 8 or 12(a) under the Salaried Plan or the Excess Benefit Plan including, in the event Employee is not fully vested under the
provisions of either, the present value of any otherwise forfeitable benefit thereunder, to be paid in a single sum to Employee as soon as practicable, but not more than thirty days following his termination of employment, with present value
determination to be made based on actuarial factors for single sum payments set forth in the Salaried Pension Plan. 
  
 Employee shall have no duty to mitigate the amount of any payment or benefit provided for in this Agreement. 
  
 (c) If during any period in which Employee is entitled to
payments or benefits under Paragraph 12(a) Employee materially and willfully breaches his agreement with respect to confidential information set forth in Paragraph 13 hereof and such breach directly causes the Company or the Subsidiary substantial
and demonstrable damage, then the Company will be relieved of its obligations under Paragraph 12(a) hereof as of the first day of the month immediately following the date of such material breach. 
  
 (d) If Employee dies on or before the Severance Benefits
Termination Date or, with respect to benefits, the Contract Expiration Date, and immediately before his death he is entitled to payments or benefits under Paragraph 12(a), the Company will be relieved of its obligations under Paragraph 12(a) with
respect to base salary and bonus payments as of the first day of the month immediately following the month in which Employee dies and thereafter the Company will cause to be provided to Employee’s beneficiaries and dependents salary
continuation payments, benefits under any Excess Benefits Plan (as supplemented by item (B) of Paragraph 12(a)), and continuing medical and dental benefits to the same extent (subject to reduction for payments or benefits from a new employer under
Paragraph 12(c)) as if Employee’s death had occurred while Employee was in the active employ of the Subsidiary. 
  
 13. Confidential Information. Employee agrees that he will not, during the term of the Agreement or at any time thereafter, either directly or
indirectly, disclose or make known to any other person, firm, or corporation any confidential information, trade secret, or proprietary information of the Company or the Subsidiary that Employee may acquire in the performance of Employee’s
duties hereunder. Upon the termination of Employee’s employment with the Subsidiary, Employee agrees to deliver forthwith to the Subsidiary any and all literature, documents, correspondence, and other materials and records furnished to or
acquired by Employee during the course of such employment. 
  

 7 

 14. Costs of Enforcement. The Company shall pay and be solely responsible for any and all costs
and expenses (including attorneys’ fees) incurred by Employee in seeking to enforce the Company’s obligations under this Agreement unless and to the extent a court of competent jurisdiction determines that the Company was relieved of those
obligations because (a) the Subsidiary terminated Employee for cause (as determined under Paragraph 11(b)(i) hereof), (b) Employee voluntarily terminated his employment other than for good reason (as determined under Paragraph 11(c)(ii) hereof), or
(c) Employee materially and willfully breached his agreement with respect to confidential information and such breach directly caused substantial and demonstrable damage to the Company. The Company shall forthwith pay directly or reimburse Employee
for any and all such costs and expenses upon presentation by Employee or by counsel selected from time to time by Employee of a statement or statements prepared by Employee or by such counsel of the amount of such costs and expenses. If and to the
extent a court of competent jurisdiction renders a final binding judgment determining that the Company was relieved of its obligations for any of the reasons set forth in (a), (b), or (c) above, Employee shall repay the amount of such payments or
reimbursements to the Company. In addition to the payment and reimbursement of expenses of enforcement provided for in this Paragraph 14, the Company shall pay to Employee in cash, as and when the Company makes any payment on behalf of, or
reimbursement to, Employee, an additional amount sufficient to pay all federal, state, and local taxes (whether income taxes or other taxes) incurred by Employee as a result of (x) payment of the expense or receipt of the reimbursement, and (y)
receipt of the additional cash payment. The Company shall also pay to Employee interest (calculated at the Base Rate from time to time in effect at National City Bank, Cleveland, Ohio, compounded monthly) on any payments or benefits that are paid or
provided to Employee later than the date on which due under the terms of this Agreement. 
  
 15. Excise Tax Gross-Up Payments. 
  
 (a) In the event it shall be determined following a Change in Control that any payment or distribution by the Company or the Subsidiary or other amount with respect to the Company to or for the benefit of Employee,
whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise, but determined without regard to any additional payments required under this Paragraph 15 (a “Payment”), is (or will be) subject
to the excise tax imposed by Section 4999 of the Internal Revenue Code of 1986, as amended (the “Code”) or any interest or penalties are (or will be) incurred by Employee with respect to the excise tax imposed by Section 4999 of the Code
with respect to the Company (the excise tax, together with any interest and penalties, are hereinafter collectively referred to as the “Excise Tax”), Employee shall be entitled to receive an additional cash payment (an “Excise Tax
Gross-Up Payment”) from the Company in an amount equal to the sum of the Excise Tax and an amount sufficient to pay the cumulative Excise Tax and all cumulative income taxes (including any interest and penalties imposed with respect to such
taxes) relating to the Excise Tax Gross-Up Payment so that the net amount retained by Employee is equal to all payments received pursuant to the terms of this Agreement or otherwise less income taxes (but not reduced by the Excise Tax). 

 
 (b) Subject to the provisions of Paragraph 15(c), all
determinations required to be made under this Paragraph 15, including whether and when an Excise Tax Gross-Up Payment is required and the amount of such Excise Tax Gross-Up Payment and the assumptions to be utilized in arriving at the determination,
shall be made by a nationally recognized certified public accounting firm designated by Employee (the “Accounting Firm”) which shall provide detailed supporting calculations both to the Company and Employee within 30 days after the receipt
of 

  

 8 

 
notice from Employee that there has been a Payment, or such earlier time as is requested by the Company. In the event that at any time relevant to this
Agreement the Accounting Firm is serving as accountant or auditor for the individual, entity or group or person effecting the Change in Control, Employee shall appoint another nationally recognized certified public accounting firm to make the
determinations required hereunder (which accounting firm shall then be referred to as the Accounting Firm hereunder). All fees and expenses of the Accounting Firm shall be borne solely by the Company. Any Excise Tax Gross-Up Payment, as determined
in accordance with this Paragraph 15, shall be paid by the Company to Employee within five days after the receipt of the Accounting Firm’s determination. If the Accounting Firm determines that no Excise Tax is payable by Employee, it shall so
indicate to Employee in writing. Any determination by the Accounting Firm shall be binding upon the Company and Employee. As a result of uncertainty in the application of Section 4999 of the Code at the time of the initial determination by the
Accounting Firm, it is possible that Excise Tax Gross-Up Payments that the Company should have made will not have been made (an “Underpayment”), consistent with the calculations required to be made hereunder. In the event the Company
exhausts its remedies in accordance with Paragraph 15(c) and Employee thereafter is required to make a payment of any Excise Tax, the Accounting Firm shall determine the amount of Underpayment that has occurred and the Underpayment shall be promptly
paid by the Company to or for the benefit of Employee. 
  
 (c) Employee shall notify the Company in writing of any claim by the Internal Revenue Service that, if successful, would require an Excise Tax Gross-Up Payment (that has not already been paid by the Company). The notification shall be given
as soon as practicable but no later than ten business days after Employee is informed in writing of the claim and shall apprise the Company of the nature of the claim and the date on which the claim is requested to be paid. Employee shall not pay
the claim prior to the expiration of the 30-day period following the date on which Executive gives notice to the Company or any shorter period ending on the date that any payment of taxes with respect to the claim is due. If the Company notifies the
Employee in writing prior to the expiration of the 30-day period that it desires to contest the claim, Employee shall: 
  
 (i) give the Company any information reasonably requested by the Company relating to the claim; 
  
 (ii) take any action in connection with contesting the claim
as the Company shall reasonably request in writing from time to time, including, without limitation, accepting legal representation with respect to the claim by an attorney reasonably selected by the Company; 
  
 (iii) cooperate with the Company in good faith in order
effectively to contest the claim; and 
  
 (iv)
permit the Company to participate in any proceedings related to the claim. 
  
 The Company shall bear and pay directly all costs and expenses (including additional interest and penalties) incurred in connection with the contest and shall indemnify and hold Employee harmless, on an after-tax
basis, for any Excise Tax or income tax (including interest and penalties with respect thereto) imposed as a result of the representation and payment of costs and expenses. Without limitation of the foregoing provisions of this Paragraph 15, the
Company shall control all proceedings taken in connection with the contest and, at its sole option, may pursue or forego any and all administrative appeals, proceedings, hearings, and conferences with 

  

 9 

 
the taxing authority in respect of the claim and may, at its sole option, either direct Employee to pay the tax claimed and sue for a refund or contest the
claim in any permissible manner, and Employee agrees to prosecute the contest to a determination before any administrative tribunal, in a court of initial jurisdiction and in one or more appellate courts, as the Company shall determine. If the
Company directs Employee to pay the claim and sue for a refund, the Company shall advance the amount of payment to Employee, on an interest-free basis, and shall indemnify and hold Employee harmless, on an after-tax basis, from any Excise Tax or
income tax (including interest or penalties with respect thereto) imposed with respect to the advance or with respect to any imputed income with respect to the advance; and any extension of the statute of limitations relating to payment of taxes for
the taxable year of Employee with respect to which the contested amount is claimed to be due shall be limited solely to the contested amount. The Company’s control of the contest shall be limited to issues with respect to which an Excise Tax
Gross-Up Payment would be payable hereunder and Employee shall be entitled to settle or contest, as the case may be, any other issue raised by the Internal Revenue Service or any other taxing authority. 
  
 (d) If, after the receipt by Employee of an amount advanced
by the Company pursuant to Paragraph 15(c), Employee becomes entitled to receive any refund with respect to the claim, Employee shall, subject to the Company’s compliance with the requirements of Paragraph 15(c), promptly pay to the Company the
amount of the refund (together with any interest paid or credited thereon after taxes applicable thereto). If, after the receipt by Employee of an amount advanced by the Company pursuant to Paragraph 15(c), a determination is made that Employee
shall not be entitled to any refund with respect to the claim and the Company does not notify the Employee in writing of its intent to contest the denial of refund prior to the expiration of 30 days after the determination, then the advance shall be
forgiven and shall not be required to be repaid and the amount of the advance shall offset, to the extent thereof, the amount of Excise Tax Gross-Up Payment required to be paid. 
  
 16. Withholding Taxes. Any payments provided for hereunder shall be paid net of any applicable withholding required
under federal, state, or local law and any additional withholding to which Employee has agreed. 
  
 17. Outplacement. Following any termination of employment occurring after a Change in Control other than for cause as described in Paragraph 11(b),
whether such termination occurs during or after the Contract Period, the Company shall provide to Employee at its expense full executive level outplacement services to assist Employee in securing suitable employment, such outplacement services to be
provided by a party selected by Employee, provided that Employee must select and commence use of such services within six months of his date of termination of employment with the Subsidiary and all other affiliates of the Company. 
  
 18. Employment Rights. Nothing expressed or implied in this Agreement
shall create any right or duty on the part of the Company, the Subsidiary, or Employee to have Employee remain in the employ of the Subsidiary before any Change in Control and Employee shall have no rights under this Agreement if his employment with
the Subsidiary is terminated for any reason or for no reason before any Change in Control. Nothing expressed or implied in this Agreement shall create any duty on the part of the Company or the Subsidiary to continue in effect, or continue to
provide to Employee, any plan or benefit unless and until a Change in Control occurs. If, before a Change in Control, the Company or the Subsidiary ceases to provide any plan or benefit to Employee, nothing in this Agreement shall be construed to
require the Company or the Subsidiary to reinstitute that plan or benefit to Employee upon the later occurrence of a Change in Control. 
  

 10 

 19. Notices. For purposes of this Agreement, all communications provided for herein shall be in
writing and shall be deemed to have been duly given when delivered or when mailed by United States registered or certified mail, return receipt requested, postage prepaid, addressed to the Company (Attention: President) at its principal executive
office and to Employee at his principal residence, or to such other address as either party may have furnished to the other in writing and in accordance herewith, except that notices of change of address shall be effective only upon receipt.

  
 20. Assignment, Binding Effect. 
  
 (a) This Agreement shall be binding upon and shall inure to
the benefit of the Company and the Company’s successors and assigns. The Company shall require any successor (whether direct or indirect, by purchase, merger, consolidation, or otherwise) to all or substantially all of the business and or
assets of the Company, by agreement in form and substance satisfactory to Employee, to expressly assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such
succession had taken place. 
  
 (b) This
Agreement shall be binding upon Employee and this Agreement and all rights of Employee hereunder shall inure to the benefit of, and be enforceable by, Employee and his personal or legal representatives, executors, or administrators. No right,
benefit, or interest of Employee hereunder shall be subject to assignment, anticipation, alienation, sale, encumbrance, charge, pledge, hypothecation, or to execution, attachment, levy, or similar process; except that Employee may assign any right,
benefit, or interest hereunder if such assignment is permitted under the terms of any plan or policy of insurance or annuity contract governing such right, benefit, or interest. 
  
 21. Invalid Provisions. 
  
 (a) Any provision of this Agreement that is prohibited or unenforceable shall be ineffective to the extent, but only to the extent, of
such prohibition or unenforceability without invalidating the remaining portions hereof and such remaining portions of this Agreement shall continue to be in full force and effect. 
  
 (b) In the event that any provision or portion of this Agreement shall be determined to be invalid or
unenforceable, the parties will negotiate in good faith to replace such provision with another provision that will be valid or enforceable and that is as close as practicable to the provision held invalid or unenforceable. 
  
 22. Modification. No modification, amendment, or waiver of any of the
provisions of the Agreement shall be effective unless in writing, specifically referring hereto, and signed by both parties. 
  
 23. Waiver of Breach. The failure at any time to enforce any of the provisions of this Agreement or to require performance by the other party of
any of the provisions of this Agreement shall in no way be construed to be a waiver of such provisions or to affect either the validity of this Agreement or any part of this Agreement or the right of either party thereafter to enforce each and every
provision of this Agreement in accordance with the terms hereof. 
  
 24. Entire Agreement. This Agreement forms the entire agreement between the parties hereto with respect to the subject matter contained in this Agreement and, except as otherwise provided herein, shall supersede all prior agreements,
promises and representations regarding employment, compensation, severance or other payments contingent upon termination of employment, whether in writing or otherwise. 
  

 11 

 25. Governing Law. This Agreement has been made in and shall be governed and construed in
accordance with the laws of the State of Ohio. Notwithstanding the foregoing, all benefits and compensation provided hereunder shall comply with, and be administered in compliance with, the requirements of Section 409A of the Code, as enacted by the
American Jobs Creation Act of 2004, to the extent applicable. 
  
 [Remainder of Page Intentionally Left Blank] 
  

 12 

 IN WITNESS WHEREOF, the Company and Employee have executed this Agreement on the day and year first above
written. 
  

			
	 OGLEBAY NORTON COMPANY

		
	 By:
	 	 /s/ Thomas O. Boucher, Jr.

	 	 	 Thomas O. Boucher, Jr.

	 	 	 Chairman of the Board

		
	 	 	 /s/ Michael D. Lundin

	 	 	 Michael D. Lundin

  

 13

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