Document:

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                                                                    EXHIBIT 10.1

DATA RESEARCH ASSOCIATES, INC.
2001 STOCK OPTION PLAN

I.  Purpose of the Plan

The Data Research Associates, Inc. 2001 Stock Option Plan (the "Plan") is
intended to provide a means whereby certain key employees of Data Research
Associates, Inc., a Missouri corporation (the "Company"), may develop a sense of
proprietorship and personal involvement in the development and financial success
of the Company and its subsidiaries, and to encourage them to remain with and
devote their best efforts to the business of the Company and its subsidiaries,
thereby advancing the interests of the Company and its shareholders.
Accordingly, the Company may make awards to certain employees in the form of
stock options ("Options") with respect to shares of the Company's common stock,
par value $0.01 per share (the "Stock"). Options may either be nonqualified
stock options ("Nonqualified Options") or options ("Incentive Stock Options")
which are intended to qualify as incentive stock options under Section 422 of
the Internal Revenue Code of 1986, as amended (the "Code").

II.  Administration

A. The Committee. The Plan shall be administered by a committee of the Board of
Directors of the Company (the "Board") consisting of not less than two members
of the Board as the Board may appoint (the "Committee"); provided that so long
as the Company is subject to the reporting requirements of the Securities
Exchange Act of 1934, as amended ("1934 Act"), the members of the Committee
shall be "Non-Employee Directors" within the meaning of Rule 16b-3 promulgated
under the 1934 Act, as such Rule or its equivalent is then in effect ("Rule
16b-3"). Committee members may resign at any time by delivering written notice
to the Board. Vacancies in the Committee, however caused, shall be filled by the
Board. The Committee shall have the authority and discretion to interpret the
Plan, to establish, amend and rescind any rules and regulations relating to the
Plan not inconsistent with the provisions of the Plan, and to make all other
determinations that may be necessary or advisable for the administration of the
Plan. Any interpretation or construction of the Plan or any provision thereof by
the Committee and any decision made by it under the Plan is final and binding on
all persons. The Committee shall act by a majority of its members in office and
the Committee may act either by vote at a telephonic or other meeting or by a
consent or other written instrument signed by all of the members of the
Committee.

B. Powers of the Committee. The Committee shall have the sole authority to:
(1) grant Options; (2) determine the purchase price of the Stock covered by
each Option (the "Exercise Price"), the terms and duration of each Option
and the terms and provisions of the Option agreements (the "Agreements")
entered into under the Plan; (3) determine the key employees to whom, and the
times at which, Options shall be granted; (4) determine whether the Option shall
be a Nonqualified Option or an Incentive Stock Option and the number of shares
to be covered by each Option and (5) prepare and distribute, in such manner as
the Committee determines to be appropriate, information about the Plan.

C. Liability. Neither the Committee nor any member thereof shall be liable for
any act, omission, interpretation, construction or determination made in
connection with the Plan in good faith, and the members of the Committee shall
be entitled to indemnification and reimbursement by the Company in respect of
any claim, loss, damage or expense (including counsel fees) arising therefrom to
the fullest extent permitted by law. The members of the Committee shall be named
as insiders in connection with any directors and officers liability insurance
coverage that may be in effect from time to time.

D. Delegation by the Committee. The day-to-day administration of the Plan may be
carried out by such officers and employees of the Company as shall be designated
from time to time by the Committee. All expenses and liabilities incurred by the
Committee in connection with the administration of the Plan shall be borne by
the Company. The Committee may employ attorneys, consultants, accountants,
appraisers, brokers or other persons, and the Committee, the Board, the Company
and the officers and employees of the Company shall be entitled to rely upon the
advice, opinions or valuations of any such persons.

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III.  Eligible Employees

A. Key Employees. Only key employees of the Company and its subsidiaries shall
be eligible to receive Options under the Plan. In granting Options to an
employee, the Committee shall take into consideration the contribution the
employee has made or may make to the success of the Company or its subsidiaries
and such other considerations as the Committee shall determine. The Committee
shall also have the authority to consult with and receive recommendations from
officers and other employees of the Company and its subsidiaries with regard to
these matters.

B. No Right to Participate. In no event shall any employee, his legal
representatives, heirs, legatees, distributes, or successors have any right to
participate in the Plan, except to such extent, if any, as the Committee shall
determine.

IV.  Shares Subject to the Plan and Delivery Restrictions

A. Number of Shares. The aggregate number of shares which may be issued under
the Plan shall not exceed 250,000 shares of Stock. Such shares may consist of
authorized but unissued shares of Stock or previously issued shares reacquired
by the Company. To the extent any shares of Stock covered by an Option are not
delivered to the holder of the Option because the option, in whole or in part,
expires or terminates unexercised or is cancelled or forfeited, or the shares of
Stock are not delivered because the Option is settled in cash or used to satisfy
the applicable tax withholding obligation, such shares shall not be deemed to
have been delivered, and will be available for new grants of Options under the
Plan. If the exercise price of any Option granted under the Plan is satisfied by
tendering shares of Stock to the Company, only the number of shares of Stock
issued net of the shares of Stock tendered shall be deemed delivered and the
undelivered shares shall be available for new grants of Options under the Plan.
The aggregate number of shares which may be issued under Options granted under
the Plan shall be subject to adjustment as provided in Article VI hereof.
B. Effect of Termination of Plan. Any of such shares which remain unsold and
which are not subject to outstanding Options at the termination of the Plan
shall cease to be subject to the Plan, but until termination of the Plan and the
expiration of all Options granted under the Plan, the Company shall at all times
make available a sufficient number of shares to meet the requirements of the
Plan and the outstanding Options.

V.  Grants of Options

A. General. Options granted under the Plan shall be of such type (Nonqualified
Option or Incentive Stock Option) and for such number of shares of Stock and
subject to such terms and conditions, which may include, without limitation, the
achievement of specific goals, as the Committee shall designate. The Committee
may grant Options at any time and from time to time through, but not after,
January 1, 2011, to any individual eligible to receive the same. For purposes of
the Plan, the date on which an Option is granted is referred to as the "Grant
Date."

B. Restrictions on Incentive Stock Options. Grants of Incentive Stock
Options shall be subject to the following:

  1. 10% Shareholders. No employee shall be eligible to receive any Incentive
Stock Option if, on the Grant Date, such employee owns (including ownership
through the attribution provisions of Section 424(d) of the Code) in excess of
10% of the outstanding voting stock of the Company or a subsidiary (a "10%
Shareholder"), unless the Exercise Price for the shares of Stock subject to the
Incentive Stock Option is at least 110% of the fair market value of the shares
of Stock on the Grant Date and such Option by its terms is not exercisable after
the expiration of five years from the Grant Date.

  2. $100,000 Limit. To the extent that the aggregate fair market value
(determined at the Grant Date) of Stock with respect to which Incentive Stock
Options (determined without regard to this sentence) are exercisable for the
first time by any individual during any calendar year (under all plans of the
Company and its subsidiaries) exceeds $100,000, such Options shall be treated as
Nonqualified Options (this sentence shall be applied by taking Incentive Stock
Options into account in the order in which they were granted).

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C. Terms of Nonqualified Options and Incentive Stock Options. The Committee may
fix such waiting and/or vesting periods, exercise dates or other limitations as
it shall deem appropriate with respect to Options granted under the Plan
including, without limitation, the achievement of specific goals. Options
granted pursuant to the Plan shall be evidenced by Agreements that shall comply
with and be subject to the following terms and conditions and may contain such
other provisions, consistent with the Plan, as the Committee shall deem
advisable (references herein to "Agreements" shall include, to the extent
applicable, any amendments to such Agreements):

  1. Payment of Option Exercise Price. Upon exercise of an Option, the full
Exercise Price for the shares with respect to which the Option is being
exercised shall be payable to the Company: (a) in cash or by check payable and
acceptable to the Company; (b) subject to the approval of the Committee, by
tendering to the Company shares of Stock owned by the optionee (provided that
such shares shall have been then owned by the optionee for a period of six
months prior to the exercise) having an aggregate Market Value Per Share (as
defined below) as of the date of exercise and tender that is not greater than
the full Exercise Price for the shares with respect to which the Option is being
exercised and by paying any remaining amount of the Exercise Price as provided
in (a) above; or (c) subject to the approval of the Committee and to such
instructions as the Committee may specify, at the optionee's written request the
Company may deliver certificates for the shares of Stock for which the Option is
being exercised to a broker for sale on behalf of the optionee, provided that
the optionee has irrevocably instructed such broker to remit directly to the
Company on the optionee's behalf the full amount of the Exercise Price from the
proceeds of such sale and any tax withholding resulting from such exercise;
provided, that in the case of an Incentive Stock Option, (b) and (c) above shall
apply only if Committee approval is given on or prior to the Grant Date and the
Agreement expressly provides for such optional payment terms. In the event that
the optionee elects to make payment as allowed under clause (b) above, the
Committee may, upon confirming that the optionee owns the number of shares of
Stock being tendered, authorize the issuance of a new certificate for the number
of shares being acquired pursuant to the exercise of the Option less the number
of shares being tendered upon the exercise and return to the optionee (or not
require surrender of) the certificate for the shares of Stock being tendered
upon the exercise. Payment instruments will be received subject to collection.

  2. Number of Shares. Each Agreement shall state the total number of shares
of Stock that are subject to the Option.

  3. Exercise Price. The Exercise Price for each Option shall be fixed by the
Committee at the Grant Date, but in no event may the Exercise Price per share be
less than the Market Value Per Share on the Grant Date.

  4. Market Value Per Share. The "Market Value Per Share" as of any particular
date shall be determined as follows: (a) if the Stock is listed for trading on a
national or regional stock exchange, the closing price quoted on such exchange
which is published in The Wall Street Journal for the trading day immediately
preceding the Grant Date, or if no trade of the Stock shall have been reported
for such date, the closing price quoted on such exchange which is published in
The Wall Street Journal for the next day prior thereto on which a trade of the
Stock was so reported; (b) if the shares are not so listed or admitted to
trading, the average of the highest reported bid and lowest reported asked
prices as furnished by the National Association of Securities Dealers, Inc.,
through NASDAQ, or through a similar organization if NASDAQ is no longer
reporting such information, in any case for the first day immediately preceding
the Grant Date on which the Stock is traded; or (c) if shares of the Stock are
not listed or admitted to trading on any exchange or quoted through NASDAQ or
any similar organization, the "Market Value Per Share" shall be determined by
the Committee in good faith using any fair and reasonable means selected in its
discretion.

  5. Term. The term of each Option shall be determined by the Committee at the
Grant Date; provided, however, that each Option shall, notwithstanding anything
in the Plan or an Agreement to the contrary, expire not more than ten years
(five years with respect to an Incentive Stock Option granted to an employee who
is a 10% Shareholder) from the Grant Date or, if earlier, the date specified in
the Agreement.

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  6. Date of Exercise. In the discretion of the Committee, each Agreement may
contain provisions stating that the Option granted therein may not be exercised
in whole or in part for a period or periods of time or until the achievement of
specific goals, in either case as specified in such Agreement, and except as so
specified therein, any Option may be exercised in whole at any time or in part
from time to time during its term. The Committee may, however, at any time, in
its sole discretion, amend any outstanding Option not immediately exercisable in
full, to accelerate the time at which such Option may be exercised or to provide
that the time for exercising such Option shall be accelerated upon the
occurrence of a specified event.

  7. Termination of Employment.
(a)In the event an individual's employment with the Company and its
subsidiaries shall terminate for reasons other than: (i) retirement in
accordance with the terms of a retirement plan of the Company or one of its
subsidiaries ("retirement"), (ii) permanent disability (as defined in Section
22(e)(3) of the Code), or (iii) death, the individual's Options shall terminate
as of the date of such termination of employment and shall not be exercisable
to any extent as of and after such time.

(b)If any termination of employment is due to retirement or permanent
disability, the individual shall have the right to exercise any Option at any
time within the 12-month period (three-month period in the case of retirement
for Options that are Incentive Stock Options) following such termination of
employment, but only to the extent that the option was exercisable immediately
prior to such termination of employment.

(c)Whether any termination of employment is due to retirement or permanent
disability and whether an authorized leave of absence or absence for military or
government service or for other reasons shall constitute a termination of
employment for purposes of the Plan shall be determined by the Committee in its
sole discretion.

(d)If an individual shall die while entitled to exercise an Option, the
individual's estate, personal representative or beneficiary, as the case may be,
shall have the right to exercise the Option at any time within the 12-month
period following the date of the option's death, to the extent that the option
was entitled to exercise the same on the day immediately prior to the option's
death.

D. Effect of Exercise. The right of an individual to exercise an Option
shall terminate to the extent that such Option is exercised.

E. Option Grants in Substitution for Other Awards. Options may be granted under
the Plan from time to time in substitution for stock options and stock
appreciation rights held by employees of corporations who become key employees
of the Company or of any of its subsidiaries as a result of a merger or
consolidation of the employer corporation with the Company or any such
subsidiary, or the acquisition by the Company or a subsidiary of assets of the
employer corporation or the acquisition by the Company or a subsidiary of stock
of the employer corporation, with the result that such employer corporation
becomes a subsidiary of the Company.

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VI.  Recapitalization or Reorganization

A. General. The existence of the Plan and the Options granted hereunder shall
not affect in any way the right or power of the Board or the shareholders of the
Company to make or authorize any adjustment, recapitalization, reorganization or
other change in the Company's capital structure or its business, any merger or
consolidation of the Company, any issue of bonds, debentures, preferred or prior
preference stocks ahead of or affecting Stock or the rights thereof, the
dissolution or liquidation of the Company or any sale or transfer of all or any
part of its assets or business, or any other corporate act or proceeding.

B. Adjustments. The shares with respect to which Options may be granted are
shares of Stock as presently constituted, but if, and whenever, prior to the
termination of the Plan or the expiration of an Option theretofore granted, the
Company shall effect a subdivision or consolidation of shares of Stock or the
payment of a stock dividend on Stock without receipt of consideration by the
Company, the remaining shares of Stock available under the Plan and the number
of shares of Stock with respect to which such Option may thereafter be
exercised: (a) in the event of an increase in the number of outstanding shares,
shall be proportionately increased and the Exercise Price per share shall be
proportionately reduced; and (b) in the event of a reduction in the number of
outstanding shares, shall be proportionately reduced and the Exercise Price per
share shall be proportionately increased.

C. Issuance of Securities for Value. Except as may otherwise be expressly
provided in the Plan, the issuance by the Company of shares of capital stock of
any class or securities convertible into shares of capital stock of any class,
for cash, property, labor or services, upon direct sale, upon the exercise of
rights or warrants to subscribe therefor, or upon conversion of shares or
obligations of the Company convertible into such shares of capital stock or
other securities, and in any case whether or not for fair value, shall not
affect, and no adjustment by reason thereof shall be made with respect to, the
number of shares of Stock available under the Plan or subject to Options
theretofore granted or the Exercise Price per share with respect to outstanding
Options.

D. Fundamental Change. If the Company effects a recapitalization or otherwise
materially changes its capital structure (both of the foregoing are herein
referred to as a "Fundamental Change"), then thereafter upon any exercise of an
Option theretofore granted the optionee shall be entitled to purchase under such
Option, in lieu of the number of shares of Stock as to which such Option shall
then be exercisable, the number and class of shares of capital stock and
securities to which the optionee would have been entitled pursuant to the terms
of the Fundamental Change if, immediately prior to such Fundamental Change, the
optionee had been the holder of record of the number of shares of Stock as to
which such Option is then exercisable.

VII.  Employee's Agreement

If, at the time of the exercise of any Option, in the opinion of counsel for the
Company, it is necessary or desirable, in order to comply with any then
applicable laws or regulations relating to the sale of securities, for the
individual exercising the Option to agree to hold any shares issued to the
individual for investment and without intention to resell or distribute the same
and for the individual to agree to dispose of such shares only in compliance
with such laws and regulations, the individual shall be required, upon the
request of the Company, to execute and deliver to the Company an agreement to
such effect.

VIII.  Termination of Authority to Grant Awards
No Options will be granted pursuant to this Plan after January 1, 2011.

IX.  Amendment and Termination

The Board may from time to time and at any time alter, amend, suspend,
discontinue or terminate this Plan and any Options hereunder; provided, that no
change in any Option theretofore granted may be made which would impair the
rights of the optionee without the consent of such optionee.

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X.  Effective-Date of Plan

The Plan shall become effective upon adoption by the Board and approval by the
Company's shareholders; provided, however, that prior to approval of the Plan by
the Company's shareholders but after adoption by the Board, Options may be
granted under the Plan subject to obtaining such approval; and provided further,
however, that if shareholder approval is not obtained within twelve months after
the date the Plan is adopted by the Board, no Incentive Stock Options shall be
granted under the Plan.

XI.  Preemption by Applicable Laws and Regulations

Anything in the Plan or any Agreement entered into pursuant to the Plan to the
contrary notwithstanding, if, at any time specified herein or therein for the
making of any determination with respect to the issuance or other distribution
of shares of Stock, any law, regulation or requirement of any governmental
authority having jurisdiction in the premises shall require either the Company
or the employee (or the employee's beneficiary), as the case may be, to take any
action in connection with any such determination, the issuance or distribution
of such shares or the making of such determination shall be deferred until such
action shall have been taken.

XII.  Miscellaneous

A. Tax Withholding. All distributions under the Plan are subject to withholding
of all applicable taxes, and the Committee may condition the delivery of any
shares or other benefits under the Plan on satisfaction of the applicable
withholding obligations. The Committee, in its discretion, and subject to such
requirements as the Committee may impose prior to the occurrence of such
withholding, may permit such withholding obligations to be satisfied through
cash payment by the optionee, through the surrender of shares of Stock that the
optionee already owns, or through the surrender of shares of Stock to which the
optionee is otherwise entitled under the Plan.

B. No Employment Contract. Nothing contained in the Plan shall be construed as
conferring upon any employee the right to continue in the employ of the Company
or any of its subsidiaries.

C. Employment with Subsidiaries. Employment by the Company for the purpose of
this Plan shall be deemed to include employment by, and to continue during any
period in which an employee is in the employment of, any subsidiary.

D. No Rights as a Shareholder. An employee shall have no rights as a shareholder
with respect to shares covered by such employee's Option until the date of the
issuance of shares to the employee pursuant thereto. No adjustment will be made
for dividends or other distributions or rights for which the record date is
prior to the date of such issuance.

E. No Right to Corporate Assets. Nothing contained in the Plan shall be
construed as giving any employee, such employee's beneficiaries or any other
person any equity or other interest of any kind in any assets of the Company or
any subsidiary or creating a trust of any kind or a fiduciary relationship of
any kind between the Company or any subsidiary and any such person. Any optionee
shall have only a contractual right to shares of Stock as set forth in the
Agreement, unsecured by any assets of the Company or any subsidiary, and nothing
contained in the Plan shall constitute a guarantee that the assets of the
Company or any subsidiary shall be sufficient to pay any benefits to any person.

F. No Restriction on Corporate Action. Nothing contained in the Plan shall be
construed to prevent the Company or any subsidiary from taking any corporate
action that is deemed by the Company or such subsidiary to be appropriate or in
its best interests, whether or not such action would have an adverse effect on
the Plan or any Option made under the Plan. No employee, beneficiary or other
person shall have any claim against the Company or any subsidiary as a result of
any such action.

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G. Non-assignability. Neither an employee nor an employee's beneficiary shall
have the power or right to sell, exchange, pledge, transfer, assign or otherwise
encumber or dispose of such employee's or beneficiary's interest arising under
the Plan or any Option received under the Plan; nor shall such interest be
subject to seizure for the payment of an employee's or beneficiary's debts,
judgments, alimony, or separate maintenance or be transferable by operation of
law in the event of an employee's or beneficiary's bankruptcy or insolvency and
to the extent any such interest arising under the Plan or an Option received
under the Plan is awarded to a spouse pursuant to any divorce proceeding, such
interest shall be deemed to be terminated and forfeited notwithstanding any
vesting provisions or other terms herein or in the agreement evidencing such
option.

H. Application of Funds. The proceeds received by the Company from the sale of
shares of Stock pursuant to the Plan shall be used for general corporate
purposes.

I. Form and Time of Elections. Unless otherwise specified herein, each election
required or permitted to be made by any optionee or other person entitled to
benefits under the Plan, and any permitted modification, or revocation thereof,
shall be in writing filed with the Committee at such times, in such form, and
subject to such restrictions and limitations, not inconsistent with the terms of
the Plan, as the Committee shall require.

J. Governing Law; Construction. All rights and obligations under the Plan shall
be governed by, and the Plan shall be construed in accordance with, the laws of
the State of Missouri without regard to the principles of conflicts of laws.
Titles and headings to Sections herein are for purposes of reference only, and
shall in no way limit, define or otherwise affect the meaning or interpretation
of any provisions of the Plan.<PAGE>   1
EX-10.1(C)

                              EMPLOYMENT AGREEMENT

                                     Between

                              INTERMET CORPORATION

                                       And

                                 TERRY GRAESSLE

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THIS AGREEMENT, dated as of MARCH 26, 2001 is made by and between INTERMET
CORPORATION, a Georgia corporation having its principal place of business in
Troy, Michigan (the "Company"), and TERRY GRAESSLE (the "Executive").

WHEREAS, the Company desires the services of the Executive, and the Executive is
willing to render such services; and

WHEREAS, in order to secure the continued services of the Executive, the Company
believes it should provide the Executive with an agreement for severance
payments.

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

                      Article 1 - Termination of Employment

1.1  Termination of Employment for Cause or Other Than for Good Reason. If,
     before the end of the Contract Term, the Company terminates the Executive's
     employment for Cause or the Executive terminates employment other than for
     Good Reason, then the Company shall pay to the Executive in a lump sum
     immediately after the Date of Termination that portion of the Executive's
     then current annual base salary which is accrued but unpaid as of such Date
     of Termination. The Executive will not be entitled to receive any other
     compensation or benefits under this Agreement.

1.2  Termination of Employment for Death or Disability. If, before the end of
     the Contract Term, the Executive's employment terminates due to death or
     Disability, the Company shall pay to the Executive (or to the Executive's
     estate), in accordance with Company policy following the Date of
     Termination:

(a)  that portion of the Executive's annual base salary which is accrued but
     unpaid as of the Date of Termination;

(b)  the amount of any Annual Bonus applicable to any Annual Bonus Period which
     ended prior to the Date of Termination, but which is unpaid as of the Date
     of Termination;

(c)  disability, life insurance, and other benefits as typically provided to an
     executive under the Company's employee welfare benefit plans as a result of
     such an executive's death or Disability; and

(d)  a pro rata portion of the Annual Bonus applicable to the Annual Bonus
     Period during which the Date of Termination occurs based upon actual
     performance for the Annual Bonus Period (such pro rata bonus shall be based
     on the portion of such Annual Bonus Period that expired prior to the Date
     of Termination, shall be payable following such Annual Bonus Period in
     accordance with Company policy and shall be determined without regard to
     any reduction in earnings on account of interest

<PAGE>   3

     paid on additional debt incurred by the Company in connection with any
     Change in Control).

1.3  Termination of Employment By the Company Without Cause or By the Executive
     for Good Reason (other than following a Change of Control). If, before the
     end of the Contract Term, unless such event follows a Change of Control,
     the Executive's employment is terminated by the Company without Cause or by
     the Executive for Good Reason (as that term is defined in the following
     Section 1.4), the Executive shall receive the following:

(a)  In a lump sum, that portion of the Executive's annual base salary which is
     accrued but unpaid as of the Date of Termination and any unpaid Annual
     Bonus applicable to any Annual Bonus Period which ended prior to the Date
     of Termination;

(b)  In monthly payments, the amount of the Executive's annual base salary (not
     taking into account any reductions which would constitute Good Reason)
     which would be payable for the period beginning on the Date of Termination
     and ending on the date that is one (1) year following the Date of
     Termination;

(c)  Following the Annual Bonus Period during which the Date of Termination
     occurs and in accordance with Company policy, a pro rata portion of the
     Annual Bonus applicable to such Annual Bonus Period based upon actual
     performance for the Annual Bonus Period (such pro rata bonus shall be based
     on the portion of such Annual Bonus Period that expired prior to the Date
     of Termination, shall be payable following such Annual Bonus Period in
     accordance with Company policy and shall be determined without regard to
     any reduction in earnings on account of interest paid on additional debt
     incurred by the Company in connection with any Change in Control); and

(d)  During the period in which the Executive is receiving the payments set
     forth in subsection 1.3(b) above, the employee benefits to which the
     Executive was entitled during the Contract Term. The employee benefits to
     which the Executive is entitled hereunder shall include the continued use
     of a Company vehicle. The Executive will not be entitled to participate in
     the Company's 401(k) plan, employee stock ownership plan, or similar
     retirement savings plan following the Date of Termination. The amount of
     any employee benefits payable under this Section 1.3(d) and the use of the
     Company vehicle shall be reduced or eliminated to the extent the Executive
     becomes entitled to duplicative benefits by virtue of his/her subsequent
     employment after the Date of Termination.

1.4  For purposes of the foregoing Section 1.3, the term "Good Reason" means the
     occurrence of any one of the following events:

(a)  assignment to the Executive of any duties materially inconsistent with the
     Executive's current position (or such other position to which he/she may
     have been promoted), or any other action that results in a material and
     adverse change in the

<PAGE>   4

     Executive's position, status, title or responsibilities, provided, however,
     that (i) a change of title or change in reporting relationship that does
     not otherwise result in a material diminution of status or
     responsibilities, or (ii) a change that results in the Executive not
     serving as a member of the Company's highest level executive committee
     (currently designated as the Company's Operating Committee) will not
     constitute Good Reason,

(b)  the failure of the Company to assign this Agreement to a successor to the
     Company,

(C)  ANY REDUCTION IN THE EXECUTIVE'S ANNUAL BASE SALARY OR ANY CHANGE IN THE
     EXECUTIVE'S ANNUAL BONUS THAT IS NOT PERMITTED BY SECTION 2.1 HEREOF, OR

(c)  any other material adverse change to the terms and conditions of the
     Executive's employment under this Agreement,

if the Company fails to cure such event within thirty (30) days after written
notice from the Executive; provided, however, that if the event is intentional,
knowing or repeated, the Executive shall not be required to provide written
notice or an opportunity to cure.

1.5  Termination of Employment By the Company Without Cause or By the Executive
     for Good Reason (following a Change of Control). If, before the end of the
     Contract Term, and within twenty-four (24) months following a Change of
     Control, the Executive's employment is terminated by the Company without
     Cause or by the Executive for Good Reason (as that term is defined in the
     following Section 1.6), the Executive shall receive the following:

(a)  In a lump sum, that portion of the Executive's annual base salary which is
     accrued but unpaid as of the Date of Termination and any unpaid Annual
     Bonus applicable to any Annual Bonus Period which ended prior to the Date
     of Termination;

(b)  In monthly payments, the amount of the Executive's annual base salary (not
     taking into account any reductions which would constitute Good Reason)
     which would be payable for the period beginning on the Date of Termination
     and ending on the date that is two (2) years following the Date of
     Termination;

(c)  Following the Annual Bonus Period during which the Date of Termination
     occurs and in accordance with Company policy, a pro rata portion of the
     Annual Bonus applicable to such Annual Bonus Period based upon actual
     performance for the Annual Bonus Period (such pro rata bonus shall be based
     on the portion of such Annual Bonus Period that expired prior to the Date
     of Termination, shall be payable following such Annual Bonus Period in
     accordance with Company policy and shall be determined without regard to
     any reduction in earnings on account of interest paid on additional debt
     incurred by the Company in connection with any Change in Control); and

<PAGE>   5

(d)  During the period in which the Executive is receiving the payments set
     forth in subsection 1.5(b) above, the employee benefits to which the
     Executive was entitled during the Contract Term. The employee benefits to
     which the Executive is entitled under this Section 1.5(d) shall include the
     continued use of a Company vehicle. The Executive will not be entitled to
     participate in the Company's 401(k) plan, employee stock ownership plan, or
     similar retirement savings plan following the Date of Termination. The
     amount of any employee benefits payable under this Section 1.5(d) shall be
     reduced or eliminated to the extent the Executive becomes entitled to
     duplicative benefits by virtue of his/her subsequent employment after the
     Date of Termination.

1.6  For purposes of the foregoing Section 1.5, the term "Good Reason" means the
     occurrence of any one of the following events:

(a)  assignment to the Executive of any duties materially inconsistent with the
     Executive's current position (or such other position to which he/she may
     have been promoted), or any other action that results in a material and
     adverse change in the Executive's position, status, title or
     responsibilities,

(b)  the failure of the Company to assign this Agreement to a successor to the
     Company,

(c)  any reduction in the Executive's annual base salary or any change in the
     Executive's Annual Bonus that is not permitted by Section 2.1 hereof

(d)  any other material adverse change to the terms and conditions of the
     Executive's employment under this Agreement, or

(e)  any change that would require the Executive's place of employment to be
     located outside a radius of thirty-five (35) miles of the Executive's
     current place of employment,

if the Company fails to cure such event within thirty (30) days after written
notice from the Executive; provided, however, that if the event is intentional,
knowing or repeated, the Executive shall not be required to provide written
notice or an opportunity to cure.

1.7  Other Termination Benefits. In addition to any amounts or benefits provided
     upon termination of employment hereunder and except as otherwise provided
     herein, the Executive shall be entitled to any payments or benefits
     explicitly provided under the terms of any plan, policy or program of the
     Company or as otherwise required by applicable law.

                         Article 2 - Certain Definitions

2.1  "Annual Bonus" means the annual cash bonus paid to the Executive pursuant
     to the Company's annual bonus plan. During the Contract Term, the Company
     shall

<PAGE>   6

     maintain an annual bonus plan that provides the Executive with benefits
     that are substantially equivalent to the benefits provided under the
     Company's current annual bonus plan, provided, however, that the Company
     shall continue to be permitted to adjust bonus participation levels for
     company executives, including for the Executive, based on performance
     factors in accordance with the Company's current practice.

2.2  "Annual Bonus Period" means the annual period on which the Executive's
     Annual Bonus is based.

2.3  "Contract Term" means the period commencing on MARCH 26, 2001 and ending on
     MARCH 25, 2002; provided, however, that commencing MARCH 27, 2001 the
     Contract Term shall be automatically extended by one day on each day the
     Executive remains employed; and, provided further, that notwithstanding
     anything herein to the contrary, the Contract Term and all obligations of
     the Company hereunder shall terminate on the Executive's sixty-fifth (65th)
     birthday.

2.4  "Date of Termination" means the date on which the Executive's employment
     with the Company terminates.

2.5  "Disability" means any medically determinable physical or mental impairment
     that can be expected to last for a continuous period of not less than six
     (6) months, and that renders the Executive unable to perform the duties
     required under this Agreement. The date of the determination of Disability
     is the date on which the Executive is certified as having incurred a
     Disability by a physician acceptable to the Company.

2.6  "Cause" means (a) the Executive's committing any felony or other crime
     involving dishonesty; (b) any serious misconduct in the course of the
     Executive's employment; or (c) the Executive's habitual neglect of the
     Executive's duties (other than on account of Disability), except that Cause
     shall not mean:

(1)  bad judgment or negligence other than habitual neglect of duty;

(2)  any act or omission believed by the Executive in good faith to have been in
     or not opposed to the interest of the Company (without intent of the
     Executive to gain therefrom, directly or indirectly, a profit to which the
     Executive was not legally entitled); or

(3)  any act or omission with respect to which a determination could properly
     have been made that the Executive met the applicable standard of conduct
     for indemnification or reimbursement under the by-laws of the Company, any
     applicable indemnification agreement or the laws and regulations under
     which the Company is governed, in each case in effect at the time of such
     act or omission.

<PAGE>   7

2.7  "Change in Control" means the occurrence of any of the following events:

(a)  any "person" (as such term is defined in Section 3(a)(9) of the Securities
     Exchange Act of 1934 (the "Exchange Act") and as used in Sections 13(d)(3)
     and 14(d)(2) of the Exchange Act) is or becomes a "beneficial owner" (as
     defined in Rule 1 3d-3 under the Exchange Act), directly or indirectly, of
     securities of the Company representing 30% or more of the combined voting
     power of the Company's then outstanding securities eligible to vote for the
     election of the Board of Directors of the Company (the "Company Voting
     Securities") provided, however, that the event described in this paragraph
     shall not be deemed to be a Change in Control by virtue of any of the
     following acquisitions: (i) by the Company or, direct or indirect,
     majority-owned subsidiaries of the Company, (ii) by any employee benefit
     plan sponsored or maintained by the Company or any corporation controlled
     by the Company, (iii) by any underwriter temporarily holding securities
     pursuant to an offering of such securities, (iv) pursuant to a Non-Control
     Transaction (as defined in paragraph (c)), (v) pursuant to any acquisition
     by the Executive or any group of persons including the Executive, or (vi)
     in which Company Voting Securities are acquired from the Company, if a
     majority of the Board of Directors of the Company approves a resolution
     providing expressly that the acquisition pursuant to this clause (vi) does
     not constitute a Change in Control under this paragraph (a);

(b)  individuals who, on MARCH 26, 2001, constitute the Board of Directors of
     the Company (the "Incumbent Board") cease for any reason to constitute at
     least a majority thereof, provided that (i) any person becoming a director
     subsequent to MARCH 26, 2001, whose election, or nomination for election,
     by the Company's shareholders was approved by a vote of at least
     three-quarters of the directors comprising the Incumbent Board (either by a
     specific vote or by approval of the proxy statement of the Company in which
     such person is named as a nominee for director, without objection to such
     nomination) shall be, for purposes of this paragraph (b), considered as
     though such person were a member of the Incumbent Board; Provided however,
     that no individual initially elected or nominated as a director of the
     Company as a result of an actual or threatened election contest with
     respect to directors or any other actual or threatened solicitation of
     proxies or consents by or on behalf of any person other than the Board of
     Directors shall be deemed to be a member of the Incumbent Board;

(c)  the consummation of a merger or consolidation or similar form of corporate
     reorganization, or sale or other disposition of all or substantially all of
     the assets, of the Company (a "Business Combination") is consummated,
     unless immediately following such Business Combination: (i) more than 50%
     of the total voting power of the corporation resulting from such Business
     Combination (including, without limitation, for purposes of making such 50%
     determination, any shares owned through any entity which directly or
     indirectly has beneficial ownership of the Company Voting Securities or all
     or substantially all of the Company's assets) eligible to elect directors
     of such corporation is represented by shares held by

<PAGE>   8

     shareholders of the Company immediately prior to such Business Combination
     (either by remaining outstanding or being converted), (ii) no person (other
     than any holding company resulting from such Business Combination, any
     employee benefit plan sponsored or maintained by the Company (or the
     corporation resulting from such Business Combination), or any person which
     beneficially owned, immediately prior to such Business Combination,
     directly or indirectly, 30% or more of the Company Voting Securities)
     becomes the beneficial owner, directly or indirectly of 30% or more of the
     total voting power of the outstanding voting securities eligible to elect
     directors of the corporation resulting from such Business Combination, and
     (iii) at least a majority of the members of the board of directors of the
     corporation resulting from such Business Combination were members of the
     Incumbent Board at the time of the execution of the initial agreement, or
     action of the Board of Directors, providing for such Business Combination
     (a "Non-Control Transaction"); or

(d)  the stockholders of the Company approve a plan of complete liquidation or
     dissolution of the Company.

Notwithstanding the foregoing, a Change in Control shall not be deemed to occur
solely because any person acquires beneficial ownership of more than 30% of the
Company Voting Securities as a result of the acquisition of Company Voting
Securities by the Company which, by reducing the number of Company Voting
Securities outstanding, increases the percentage of shares beneficially owned by
such person; provided, that if a Change in Control would occur as a result of
such an acquisition by the Company (if not for the operation of this sentence),
and after the Company's acquisition such person becomes the beneficial owner of
additional Company Voting Securities that increases the percentage of
outstanding Company Voting Securities beneficially owned by such person, then a
Change in Control shall occur.

2.8 "Good Reason" shall have the meaning set forth in Section 1.4 or 1.6, as the
case may be.

                        Article 3 - Restrictive Covenants

3.1  Trade Secrets. Confidential and Proprietary Business Information

(a)  The Company has advised the Executive and the Executive acknowledges that
     it is the policy of the Company to maintain as secret and confidential all
     Protected Information (as defined below), and that Protected Information
     has been and will be developed at substantial cost and effort to the
     Company. "Protected Information" means trade secrets, confidential and
     proprietary business information of the Company, any information of the
     Company other than information which has entered the public domain (unless
     such information entered the public domain through the efforts of or on
     account of the Executive), and all valuable and unique information and
     techniques acquired, developed or used by the Company relating to its
     business, operations, employees and customers, which give the Company a

<PAGE>   9

     competitive advantage over those who do not know the information and
     techniques and which are protected by the Company from unauthorized
     disclosure, including but not limited to, customer lists (including
     potential customers), sources of supply processes, plans, materials,
     pricing information, internal memoranda, marketing plans, internal
     policies, and products and services which may be developed from time to
     time by the Company and its agents or employees.

(b)  The Executive acknowledges that the Executive will acquire Protected
     Information with respect to the Company and its successors in interest,
     which information is valuable, special and a unique asset of the Company's
     business and operations and that disclosure of such Protected Information
     would cause irreparable damage to the Company.

(c)  The Executive shall not, directly or indirectly, divulge, furnish or make
     accessible to any person, firm, corporation, association or other entity
     (otherwise than as may be required in the regular course of the Executive's
     employment) nor use in any manner, either during or after termination of
     employment by the Company any Protected Information or cause any such
     information of the Company to enter the public domain.

3.2  Non-Competition.

(a)  The Executive agrees that the Executive shall not during the Executive's
     employment with the Company, and, if the Executive's employment is
     terminated for any reason other than termination of employment without
     Cause or for Good Reason, thereafter for a period of one (1) year directly
     or indirectly, in any capacity, engage or participate in or become employed
     by or render advisory or consulting or other services in connection with
     any Prohibited Business as defined below.

(b)  The Executive agrees that if the Executive's employment is terminated
     without Cause or for Good Reason, thereafter during the period in which the
     Executive is receiving payments under either Section 1.3(b) or 1.5(b)
     hereof, directly or indirectly, in any capacity, engage or participate in
     or become employed by or render advisory or consulting or other services in
     connection with any Prohibited Business as defined below.

(c)  Notwithstanding Section 3.2(b) above, at any time during which the
     Executive is receiving the payments and benefits due the Executive pursuant
     to Sections 1.3(b) and 1.3(d), or Sections 1.5(b) and 1.5(d), as the case
     may be, the Executive may elect by written notice to the Company to forego
     and release the Company from paying such payments and providing such
     benefits. From and after the date of such notice (i) the Company shall have
     no further obligation to make such payments or provide such benefits, and
     (ii) the obligation of the Executive set forth in Section 3.2(b) shall
     terminate.

<PAGE>   10

(d)  The Executive agrees that the Executive shall not during the Executive's
     employment with the Company, and, if the Executive's employment is
     terminated for any reason, thereafter for a period of one (1) year, make
     any financial investment, whether in the form of equity or debt, or own any
     interest, directly or indirectly, in any Prohibited Business. Nothing in
     this Section 7.02 shall, however, restrict the Executive from making any
     investment in any Company whose stock is listed on a national securities
     exchange or actively traded in the over-the-counter market; provided that
     (i) such investment does not give the Executive the right or ability to
     control or influence the policy decisions of any Prohibited Business, and
     (ii) such investment does not create a conflict of interest between the
     Executive's duties hereunder and the Executive's interest in such
     investment.

(d)  "Prohibited Business" shall be defined as any business and any branch,
     office or operation thereof, which is a direct and material competitor of
     the Company wherever the Company does business, in the United States or
     abroad, and which has established or seeks to establish contact, in
     whatever form (including but not limited to solicitation of sales, or the
     receipt or submission of bids) with any entity who is at any time a client,
     customer or supplier of the Company (including but not limited to all
     subdivisions of the federal government).

3.3  Undertaking Regarding Employees. From the date hereof until two years after
     the Executive's Date of Termination, the Executive shall not, directly or
     indirectly, (a) encourage any employee of the Company or its successors in
     interest to leave their employment with the Company or its successors in
     interest; or (b) employ, hire, solicit or cause to be employed or hired or
     solicited (other than by the Company or its successors in interest), or
     establish a business with, or encourage others to hire, any person who
     within two (2) years prior thereto was employed by the Company or its
     successors in interest.

3.4  Disclosure of Employee-Created Trade Secrets. Confidential and Proprietary
     Business Information. The Executive agrees to promptly disclose to the
     Company all Protected Information developed in whole or in part by the
     Executive during the Executive's employment with the Company and which
     relate to the Company's business. Such Protected Information is, and shall
     remain, the exclusive property of the Company. All writings created during
     the Executive's employment with the Company (excluding writings unrelated
     to the Company's business) are considered to be "works-for-hire" for the
     benefit of the Company and the Company shall own all rights in such
     writings.

<PAGE>   11

                             Article 4 - Successors

4.1  The Company shall cause this Agreement to be binding on the Company and any
     successor to the Company.

INTERMET CORPORATION

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