Document:

<PAGE>

                                                                   Exhibit 10(p)

                               HARSCO CORPORATION

                   1995 EXECUTIVE INCENTIVE COMPENSATION PLAN

                     AUTHORIZATION, TERMS, AND CONDITIONS OF
                             ANNUAL INCENTIVE AWARDS
                   (AS AMENDED AND RESTATED NOVEMBER 15, 2001)

1.    Purposes of Annual Incentive Awards

      The grant of Annual Incentive Awards ("Awards") under the 1995 Executive
      Incentive Compensation Plan is intended to further the profitable growth
      of Harsco Corporation (the "Company") by offering a short-term incentive
      opportunity, in addition to base salary, to officers and key corporate and
      divisional employees of the Company and its subsidiaries who are largely
      responsible for such growth, to the benefit of the Company's stockholders.
      Such Awards are expected to encourage recipients to improve their
      performance and remain with the Company and its subsidiaries, and
      encourage other qualified persons to seek and accept employment with the
      Company and its subsidiaries.

2.    Overview

      This document (the "Terms and Conditions") sets forth the authorization,
      terms, and conditions of Awards under the Company's 1995 Executive
      Incentive Compensation Plan (the "1995 Plan"), as determined by the
      Management Development and Compensation Committee (the "Committee"). These
      Terms and Conditions are subject to, and qualified in their entirety by
      reference to, the 1995 Plan, including Section 6(h) of the 1995 Plan
      setting forth certain terms relating to Awards. If any of the Terms and
      Conditions are inconsistent with the 1995 Plan, the terms of the 1995 Plan
      shall control. Words used in these Terms and Conditions but not otherwise
      defined herein shall have the meanings ascribed to such words in the 1995
      Plan.

3.    Definitions

      In addition to terms defined in Sections 1 and 2 hereof, the following
      terms shall be defined as set forth below:

      3.1  Base Salary means salary actually earned by a Participant during the
           Performance Year to which the Award relates (as distinct from the
           annual salary rate in effect at the end of such Performance Year).
           This amount excludes (i) payments resulting from awards authorized
           under the Company's Annual and Long-Term Incentive Plans in effect

                                     - 1 -
<PAGE>

           prior to 1995 and (ii) payments under the 1995 Plan, the Terms and
           Conditions, or any Awards thereunder.

      3.2  Bonus Multiple means the sum of the Excess Bonus Multiple and the
           Target Multiple. The Bonus Multiple will not be less than zero.

      3.3  Cash Bonus means the product of the Bonus Multiple and the Target
           Bonus, provided however that the Bonus Multiple used in this
           calculation shall not exceed 2.0.

      3.4  Cause means (i) the willful and continued failure by the Participant
           to substantially perform his or her duties with the Company or a
           subsidiary (other than such failure resulting from the Participant's
           incapacity due to physical or mental illness), or (ii) the willful
           engaging by the Participant in illegal conduct, or (iii) the willful
           engaging by the Participant in conduct in violation of any provision
           of the Code of Conduct or other published policies of the Company, or
           (iv) the willful engaging by the Participant in any act of serious
           dishonesty which adversely affects, or in the reasonable judgment of
           the Committee, could in the future adversely affect, the value,
           reliability or performance of the Participant to the Company. For
           purposes of this definition, no act, or failure to act, on the part
           of the Participant shall be considered "willful" unless done, or
           omitted to be done, by the Participant in bad faith and without
           reasonable belief that his or her action or omission was in, or not
           opposed to, the best interests of the Company.

      3.5  EVA(R)(1) ("EVA") or Economic Value - Added means the level of
           economic value added generated by the Company or by a designated EVA
           Center during a given Performance Year or other specified period and
           which is determined in accordance with the procedures and guidelines
           established by the Company prior to the Performance Year.

      3.6  EVA Center means the Company as a whole or any division, subsidiary
           or business unit of the Company recognized by the Committee for
           purposes of this Plan and for which a separate EVA calculation is
           performed.

      3.7  EVA Improvement means, for any Performance Year for any EVA Center,
           the difference between the current Performance Year's EVA and the EVA
           for that same EVA Center for the immediately prior Performance Year.
           EVA Improvement may be a negative number.

      3.8  EVA Interval means the difference between the Targeted EVA
           Improvement and the EVA Improvement at the point at which the first
           dollar of bonus will be earned. (The EVA Interval is also equal to
           the

(1) EVA is a registered mark of Stern Stewart & Co.

                                     - 2 -
<PAGE>

           difference between the EVA Improvement level at which the Bonus
           Multiple is 2.0 and the Targeted EVA Improvement.) The EVA Interval
           will be established by the Committee in accordance with Section 4.1.

      3.9  Excess Bonus Multiple means the quotient of the Excess EVA
           Improvement divided by the EVA Interval. This amount can be a
           negative number.

      3.10 Excess EVA Improvement means the difference between the EVA
           Improvement for a Performance Year less the Target EVA Improvement
           for that same Performance Year. Excess EVA Improvement can have a
           negative value.

      3.11 Fair Market Value of Common Stock as of any given date means the
           average of the high and the low sale prices of a share of common
           stock reported in the table entitled "New York Stock Exchange
           Composite Transactions" contained in The Wall Street Journal (or an
           equivalent successor table) for such date or, if no such prices are
           reported for such date, on the most recent trading day prior to that
           date for which such prices were reported.

      3.12 Normal Retirement means retirement at or after age 62 with at least
           30 years of service, or at or after age 65.

      3.13 Participant means an officer or key employee of the Company or a
           subsidiary, who has been identified by the Committee as being
           eligible for a potential award.

      3.14 Performance Year means the fiscal year or other specified period
           during which the achievement of Targeted EVA Improvement with respect
           to a given Award shall be measured.

      3.15 Salary Level means the numbered category assigned to each Participant
           for purposes of determining annual salary rate under the Company's
           executive compensation program, as of the end of the Performance Year
           to which an Award relates.

      3.16 Supplemental Stock Options mean options to purchase the Common Stock
           of Harsco Corporation granted pursuant to Article 6 of these Terms
           and Conditions. Supplemental Stock Options shall be separate from and
           in addition to any stock options which may otherwise be granted under
           the Plan.

      3.17 Target Bonus means an amount equal to the product of the
           Participant's Base Salary, Salary Level and 0.02 (.03 X .666) for any
           given Performance Year.

                                     - 3 -
<PAGE>

      3.18 Target EVA Improvement means level of EVA improvement the Company or
           any EVA Unit is to achieve in a given Performance Year. Targeted EVA
           Improvement is generally intended to represent a level of performance
           which the Committee believes, in its sole discretion, would merit
           payment of incentive compensation at a normal or median level. The
           Target EVA Improvement shall be established by the Committee in
           accordance with Section 4.1

      3.19 Target Multiple means, for purposes of calculating a Participant's
           Award, 1.0.

      3.20 Termination means a termination of employment immediately after which
           the Participant is not an employee of the Company or any subsidiary.
           Conversion from full-time or part-time employment or a leave of
           absence from employment, if approved by the Committee, shall not be
           deemed to be a Termination for purposes of these Terms and
           Conditions.

4.    Performance Objectives and Award Notification

      4.1  Performance Objectives. Prior to the commencement of each Performance
           Year, the Committee shall specify the Target EVA Improvement and the
           EVA Interval for the Company and each EVA Center. Initially, the
           Target EVA Improvement and the EVA Interval shall be established for
           each Performance Year of the subsequent three - year performance
           cycle. Annually thereafter, the applicable Target EVA Improvement and
           EVA Interval established by the Committee shall be only for the third
           year of the ongoing three year performance cycle. The Committee, in
           its sole discretion, may adjust any previously established Target EVA
           Improvement or EVA Interval for any Performance Year, provided that
           such adjustment must be made prior to the commencement of such
           Performance Year.

      4.2  Notification of Awards. The Company shall notify members of the class
           of eligible employees of their selection for participation and the
           applicable Target EVA Improvement and EVA Interval for the
           Performance Year as promptly as practicable. Such notification shall
           be accomplished in any reasonable manner, in the discretion of the
           Committee.

                                     - 4 -
<PAGE>

5.    Settlement of Awards

      5.1  Determination of Award and Limitation Thereof. As promptly as
           practicable following the end of each Performance Year, the Company
           shall determine the EVA achieved by the Company and each EVA Center
           for such year. The Committee shall review the EVA determinations
           along with the other material terms and conditions relating to the
           payout of an award under the Plan. If all conditions for the payout
           of an Award have been satisfied, the Committee shall then determine
           the Award, if any, deemed to be earned as a result of the actual EVA
           achieved by the Company and/or the EVA Center for the Performance
           Year. The Earned Award shall be calculated by determining the EVA
           Improvement for the Performance Year and comparing that with the
           Targeted EVA Improvement and the EVA Interval to determine the Excess
           EVA Improvement. The Committee shall then determine the Excess Bonus
           Multiple, the Bonus Multiple and the Cash Bonus. In the event that a
           Participant's Cash Bonus exceeds $2,000,000, the Cash Bonus for such
           Participant shall be reduced to that amount. A sample calculation of
           an award is attached as Exhibit A to this Plan.

      5.2  Payment of Cash and Grant of Stock. At the time the Committee
           determines a Participant's Cash Bonus under Section 5.1, each
           Participant shall become entitled, subject to Sections 5.3 and 5.4,
           to receive a payment in cash equal to his or her Cash Bonus. Such
           cash payment shall be made as promptly as practicable after the
           determination by the Committee of the Participant's Cash Bonus.

      5.3  Committee Discretion. The Committee may, at any time prior to the
           payment under Section 5.2, adjust or modify the Cash Bonus determined
           under Section 5.1: (1) in recognition of unusual or nonrecurring
           events affecting the Company or any EVA Center, or the financial
           statements or results thereof, or in response to changes in
           applicable laws (including tax, disclosure, and other laws),
           regulations, accounting principles, or other circumstances deemed
           relevant by the Committee, (2) in view of the Committee's assessment
           of the business strategy of the Company and/or the EVA Centers
           thereof, performance of comparable organizations, economic and
           business conditions, personal performance of the Participant, and
           other circumstances deemed relevant by the Committee, or (3) with
           respect to any Participant whose position or duties with the Company
           or any subsidiary has changed; provided, however, that no such
           adjustment or modification may be made with respect to an Award
           granted to a "covered employee" within the meaning of Code Section
           162(m) and regulations thereunder if and to the extent that such
           adjustment or modification would increase the amount of compensation
           payable to

                                     - 5 -
<PAGE>

           such covered employee. Examples of considerations which might
           influence the Committee in exercising its discretion hereunder
           include:

           (a)   Achievement of a rate of return on stockholders' equity which
                 was either significantly more or significantly less than the
                 Committee's estimate of the Company's competitive cost of
                 equity.

           (b)   The existence of compensation restraints at an EVA Center.

           (c)   A substantial change in the established strategic performance
                 objectives during the period.

           (d)   A substantial change in the composition of an EVA Center during
                 the period.

      5.4  Settlement of Award In the Event of Termination. In the event of a
           Participant's Termination, such Participant (or his or her
           beneficiary) shall receive, in lieu of payment of all amounts
           specified in Section 5.2, settlement of such Participant's Award as
           provided in this Section 5.4.

           In the event of a Participant's Termination by reason of Normal
           Retirement, death, or full and permanent disability (as determined by
           the Committee) prior to the end of a Performance Year to which an
           award relates, the calculation of the Participant's Cash Bonus shall
           be determined under Section 5.1. (However, the definition of "Base
           Salary" will have the effect of prorating the Participant's Award
           according to the salary actually earned during the year to the date
           of retirement.) In the event of a Participant's Termination for any
           reason other than an involuntary Termination for Cause after the end
           of a Performance Year to which an Award relates but prior to
           settlement of an Award relating to such Performance Year, the
           Participant's Cash Bonus shall be determined under Section 5.1.

           Any settlement under this Section 5.4 shall be made in the form of a
           payment in cash only (as adjusted under this Section 5.4).

           In the event of a Participant's Termination (i) for any reason other
           than Normal Retirement, death, or full and permanent disability (as
           determined by the Committee) prior to the end of a Performance Year
           to which an Award relates or (ii) which is an involuntary Termination
           for Cause after the end of a Performance Year to which an Award
           relates but prior to the Committee's determination of the
           Participant's Cash Bonus, the Award of such Participant for such
           Performance Year shall be forfeited.

                                     - 6 -
<PAGE>

      5.5  Certification. Determinations by the Committee under this Section 5
           shall be set forth in a written certification, which may include for
           this purpose approved minutes of a meeting of the Committee at which
           such determinations were made.

6.    Supplemental Stock Options

      6.1  In the event the Bonus Multiple for any Participant exceeds 2.0, the
           Participant shall be eligible to receive a grant of Supplemental
           Stock Options, the value of which shall be equal to the difference
           between (i) the product of the Bonus Multiple and the Target Bonus
           and (ii) the product of 2.0 and the Target Bonus. Any fractional
           amount shall be rounded to the nearest whole share amount. The
           Committee shall review every grant of Supplemental Stock Options
           authorized under this Section to confirm that such payments can be
           made under the terms of the Plan and that necessary shares are
           available to make such payment. The Committee shall have discretion
           to reduce or eliminate the Supplemental Stock Option grant provided
           for in this Section 6.1 if it determines, in its sole discretion,
           that the granting of the Supplemental Stock Options would not be in
           the best interest of the Company.

      6.2  No payment of Supplemental Stock Options shall be made to any
           Participant if (i) the Participant's Cash Bonus for the given
           Performance Year was equal to $2,000,000 or (ii) if such Participant
           was not eligible to receive a grant of Supplemental Stock Options for
           that Performance Year under the terms of the 1995 Plan. In additions,
           any Participant's Supplemental Stock Option grant which may be
           payable under Section 6.1 shall be reduced to the extent that the sum
           of the values of the Participant's Cash Bonus and Supplemental Stock
           Option grant under Section 6.1 exceeds $2,000,000.

      6.3  For purposed of determining the number of Supplemental Stock Options
           to be granted under Section 6.1, the Black Scholes method of stock
           option valuation shall be used. No Supplemental Stock Options for
           fractional shares shall be issued. The valuation of Supplemental
           Stock Options for purposes of Section 6.2 shall be determined in
           accordance with the Black Scholes method of valuing stock options.

7.0   Administration

      Administrative details relating to Awards shall be handled by the
      Administrator, which shall be one or more individuals, employed in the
      Company's corporate office, designated by the Chief Executive Officer of
      the Company to serve in such capacity.

                                     - 7 -
<PAGE>

                                    EXHIBIT A

                            EXAMPLE BONUS CALCULATION

<TABLE>
<CAPTION>
                                        2001                           2002
                                        ----                           ----
<S>                                   <C>                            <C>
EVA                                   ($19.5)                        $  15.0

EVA Improvement                                                      $  34.5
Less: Target EVA Improvement                                         $   4.8
                                                                     -------
= Excess EVA Improvement                                             $  29.7

Divide by Interval                                                   $  32.0
                                                                     -------
= Excess Bonus Multiple                                                 0.93

+ Target Multiple                                                       1.00
                                                                     -------
= Bonus Multiple                                                        1.93
x Target Bonus                                                       $10,000
                                                                     -------

= Bonus Declared                                                     $19,281
                                                                     =======
</TABLE>

                                     - 8 -<PAGE>
                                                                    EXHIBIT 10.6

                                 PROMISSORY NOTE

$200,000.00                                              Date:  January 22, 2002

For value received, the undersigned Electronic Tele-Communications, Inc. (the
"Borrower"), at 1915 MacArthur Road, Waukesha, Wisconsin 53188, promises to pay
to the order of esitec, llc, (the "Lender"), at 1915 MacArthur Road Suite 1,
Waukesha, Wisconsin 53188, (or at such other place as the Lender may designate
in writing) the outstanding principal sum of up to $200,000.00 with interest
from date of first draw, on the unpaid principal at the prime rate as reported
in the Wall Street Journal ("Prime").

The Borrower may request to draw sums against this promissory note in increments
of $10,000.00 up to the maximum sum of $200,000.00, subject to Lender's approval
of said draw based on Borrower's stated use of said funds and current financial
position, and Lender's availability of said funds.

Unpaid principal after the Due Date shown below shall accrue interest at a rate
of Prime plus 2% annually until paid.

The unpaid principal and accrued interest shall be payable in monthly
installments of interest only beginning on March 01, 2002, and continuing until
December 31, 2002, (the loan "Due Date"), at which time the remaining unpaid
principal and interest shall be due in full.

All payments on this Note shall be applied first in payment of accrued interest
and late charges and any remainder in payment of principal.

The Borrower promises to pay a late charge of 2% of each installment that
remains unpaid more than 10 day(s) after it is due. This late charge shall be
paid as liquidated damages in lieu of actual damages, and not as a penalty.

The Borrower has the right to prepay this Note (in whole or in part) prior to
the Due Date with no prepayment penalty.

If any payment obligation under this Note is not paid when due, the Borrower
promises to pay all costs of collection, including reasonable attorney fees,
whether or not a lawsuit is commenced as part of the collection process.

This Note is secured by the accounts receivable for goods or services sold or
provided by the Borrower to its customers in the normal course of business, not
including installment sales contracts. In addition, upon default by the
Borrower, to the extent necessary to support any accounts receivable which
secure this Note, the Lender shall have the non-exclusive right to use any
equipment and general intangible assets of the Borrower related to the
receivables, including patents, trademarks, software, and other intellectual
property.

<PAGE>

The Borrower agrees to maintain all collateral assets in good condition and
repair, and will not allow their value to be impaired in any way. The Borrower
will maintain insurance on all assets in a form satisfactory to the Lender, and
the Borrower will diligently pursue the collection of all accounts receivable.

Unless this note becomes due and payable, the Borrower shall have the right to
remain in possession of and to use and retain exclusive control of the
collateral for its normal business operations.

The Lender is not required to rely on the above security described herein for
the payment of this Note in the case of default, but may proceed directly
against the Borrower.

If any of the following events of default occur, this Note and any other
obligations of the Borrower to the Lender, shall become due immediately, without
demand or notice:

     1)   the failure of the Borrower to pay the principal and any accrued
          interest in full on or before the loan Due Date,

     2)   the failure to pay the monthly interest and late charges for 30 days
          past when they were due,

     3)   the filing of bankruptcy proceedings involving the Borrower as a
          debtor;

     4)   the application for the appointment of a receiver for the Borrower;

     5)   the making of a general assignment for the benefit of the Borrower's
          creditors;

     6)   the insolvency of the Borrower;

     7)   a misrepresentation by the Borrower to the Lender for the purpose of
          obtaining or extending credit.

     8)   Sale of or other change in control of more than 50% of the then voting
          Stock of the Borrower.

In addition, the Borrower shall be in default if there is a sale, transfer,
assignment, or any other disposition of any assets pledged as security for the
payment of this Note other than as provided herein, or if there is a default in
any security agreement which secures this Note.

If any one or more of the provisions of this Note are determined to be
unenforceable, in whole or in part, for any reason, the remaining provisions
shall remain fully operative.

All payments of principal and interest on this Note shall be paid in the legal
currency of the United States. The Borrower waives presentment for payment,
protest, and notice of protest and nonpayment of this Note.

<PAGE>

No renewal or extension of this Note, delay in enforcing any right of the Lender
under this Note, or assignment by Lender of this Note shall affect the liability
or the obligations of the Borrower. All rights of the Lender under this Note are
cumulative and may be exercised concurrently or consecutively at the Lender's
option.

This Note shall be construed in accordance with the laws of the State of
Wisconsin.

Signed this 22nd day of January, 2002, at Waukesha, Wisconsin.

Borrower:
Electronic Tele-Communications, Inc.

By:  /s/ Jeffrey M. Nigl
     --------------------
      Jeff Nigl

Lender:
Esitec, llc.

By:  /s/ Dean W. Danner
     --------------------
      Dean Danner

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00035-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00035-of-00352.parquet"}]]