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                                                                    EXHIBIT 10.3

                      2002 CORE MOLDING TECHNOLOGIES, INC.
                          EMPLOYEE STOCK PURCHASE PLAN

     1.  PURPOSE OF THE PLAN.  The purpose of the Core Molding Technologies,
Inc. Employee Stock Purchase Plan (the "Plan") is to provide eligible employees
of Core Molding Technologies, Inc. (the "Company") and its subsidiaries with an
opportunity to acquire an equity interest in the Company through the purchase of
Common Shares, and thus develop an incentive to remain with the Company, provide
a means for employees to share in the future success of the Company, to and to
link and align the personal interests of such employees to those of the Company'
stockholders. If the Company issues Common Shares under the Plan, the proceeds
therefrom will provide additional capital for the Company, which will be used
for general corporate purposes. It is the intention of the Company to have the
Plan qualify as an "employee stock purchase plan" under Section 423 of the Code
and the Plan is to be construed accordingly.

     2.  DEFINITIONS.  For purposes of this Plan, the following terms when
capitalized shall have the meanings designated herein unless a different meaning
is plainly required by the context. Where applicable, the masculine pronouns
shall include the feminine and the singular shall include the plural.

          (a) "Board" shall mean the Board of Directors of the Company.

          (b) "Cash Account" shall mean the account established for each
     Participant to which amounts withheld through payroll deductions shall be
     credited.

          (c) "Code" shall mean the Internal Revenue Code of 1986, as amended,
     and the regulations and rulings thereunder.

          (d) "Committee" shall mean the Compensation Committee of the Board or
     such other committee of at least three directors as may be appointed by the
     Board from time to time to serve at the pleasure of the Board.

          (e) "Common Shares" shall mean the shares of common stock of the
     Company.

          (f) "Company" shall mean Core Molding Technologies, Inc.

          (g) "Custodian" shall mean the person selected by the Company to hold
     the amounts withheld through Participants' payroll deductions pending the
     purchase of Common Shares pursuant to the Plan and to hold the Common
     Shares so purchased for the benefit of Participants until such Common
     Shares are withdrawn pursuant to the terms of the Plan. The Custodian shall
     qualify as an "agent independent of the issuer" as that term is used in
     Regulation M promulgated under the Securities Exchange Act of l934, as
     amended.

          (h) "Effective Date" shall mean the last business day of each Offering
     Period under the Plan.

          (i) "Offering" shall mean an opportunity provided by the Committee to
     purchase Common Shares under the Plan.

          (j) "Offering Period" shall mean the period during which an Offering
     shall be made under the Plan and shall consist of a fiscal quarter of the
     Plan.

          (k) "Participant" shall include any employee who has satisfied the
     requirements of the Plan to acquire Common Shares under the Plan and has
     elected to have payroll deductions made pursuant to the Plan.

          (l) "Payroll Deduction Date(s)" shall mean the date or dates specified
     by the Company on which withholdings for each fiscal quarter of the Plan
     shall be made.

          (m) "Plan Year" shall mean the fiscal year of the Plan which shall be
     the twelve (12) month period beginning each August 1st and ending on the
     following July 31st.

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          (n) "Right to Purchase" shall mean an option to purchase Common Shares
     granted to a Participant who elects to participate in an Offering under the
     provisions of the Plan.

          (o) "Right to Purchase Date" shall mean the Effective Date of an
     Offering Period.

          (p) "Share Account" shall mean the account established for each
     Participant to which Common Shares purchased on each Right to Purchase Date
     for the Participant shall be credited.

     3.  ADMINISTRATION.  The Plan shall be administered by the Committee. Each
member of the Committee must be an outside director of the Company and shall not
be eligible to participate in the Plan. Subject to express provisions of the
Plan and to such instructions and limitations as the Board may establish from
time to time, the Committee shall have the authority to prescribe, amend and
rescind rules and regulations relating to the Plan. The Committee may interpret
the Plan and may correct any defect or supply any omission or reconcile any
inconsistency in the Plan to the extent necessary for the effective operation of
the Plan. Any determination, decision or action taken by the Committee on the
matters referred to in this paragraph shall be conclusive.

     4.  EFFECTIVENESS OF THE PLAN.  The Plan shall become effective upon (i)
stockholder approval of the Plan at the 2002 annual meeting of stockholders of
the Company (held on May 15, 2002) or any adjournment thereof, and (ii) Board
ratification of the Plan at the Board meeting immediately following the 2002
annual meeting of the stockholders of the Company or any adjournment thereof.

     5.  COMMON SHARES SUBJECT TO THE PLAN.  Subject to adjustment as provided
in Paragraph 17 herein, not more than 300,000 Common Shares shall be
offered under the Plan. The Common Shares subject to the Plan generally shall be
previously issued Common Shares acquired by the Company. The Board, however,
also may determine, in its sole discretion, that the Common Shares to be
purchased under the Plan shall be authorized and unissued Common Shares.

     6.  OFFERINGS UNDER THE PLAN.  After the Plan has become effective, one or
more Offerings, as determined by the Committee, may be made to eligible
employees to purchase Common Shares subject to the Plan. The Offerings may be
consecutive or concurrent as determined by the Committee. Each Offering shall be
made during an Offering Period. Common Shares not sold under one Offering may be
offered again in any subsequent Offering.

     7.  ELIGIBILITY.  Subject to the terms of this Plan, any employee of the
Company or a subsidiary thereof may participate in the Plan. Notwithstanding the
previous sentence, any employee of the Company or a subsidiary thereof who owns
greater than 5% of the total combined voting power or value of all classes of
shares of the Company shall not be eligible to participate in any Offerings
under the Plan."

     An eligible employee may begin to participate in the Plan as of the
February 1st, May 1st, August 1st, or November 1st following the date on which
he or she commences employment.

     Nothing contained herein and no rules and regulations prescribed by the
Committee shall permit or deny participation in any offering contrary to the
requirements of the Code (including, without limitation, Sections 423(b)(3),
423(b)(4) and 423(b)(8) thereof).

     Nothing contained herein and no rules and regulations prescribed by the
Committee shall permit any employee to be granted a Right to Purchase under the
Plan:

          (a) if, immediately after such Right to Purchase is granted, such
     employee would own, and/or hold outstanding options or rights to purchase,
     shares of the Company possessing five percent (5%) or more of the total
     combined voting power or value of all classes of shares of the Company; or

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          (b) which permits an employee's rights to purchase Common Shares under
     all employee stock purchase plans of the Company to accrue at a rate which
     exceeds Twenty-Five Thousand Dollars ($25,000.00) of fair market value of
     Common Shares (determined as of the date such Right to Purchase is granted)
     for each calendar year in which such Right to Purchase is outstanding at
     any time.

     For purposes of this paragraph, the provisions of Section 424(d) of the
Code, shall apply in determining the stock ownership of each employee. For
purposes of clause 7(b) above, the provisions of Section 423(b)(8) of the Code
shall apply in determining whether an employee's Rights to Purchase and other
rights are permitted to accrue at a rate in excess of the permitted rate.

     8.  PAYROLL DEDUCTIONS.  In order to participate in the Plan, an eligible
employee must indicate on an Enrollment/Change Form (to be provided by the
Committee) the contribution percentage or amount that he wishes to authorize the
Company to deduct at regular payroll intervals. The minimum deduction for each
eligible employee, during each Offering Period, shall be an amount equal to five
dollars ($5.00) per pay period. Each Enrollment/Change Form will include
authorization for the Company to make payroll deductions from the eligible
employee's compensation.

     The amounts withheld through such payroll deductions shall be credited to
each Participant's Cash Account. The withholdings for each fiscal quarter of the
Plan from the compensation of a Participant shall be made on the Payroll
Deduction Dates specified by the Company. Such amounts will be delivered to the
Custodian and held pending the purchase of Common Shares as described in
Paragraph 10 hereof.

     Any employee of the Company or a subsidiary thereof who satisfies the
eligibility requirements of Section 7 hereof shall be eligible to complete
an Enrollment/Change Form and to begin payroll deductions hereunder as of the
February 1st, May 1st, August 1st, or November 1st following the date on which
he or she commences employment. Subject to the other limitations of this
Paragraph 8, a Participant may, by written notice to the Company at least twenty
(20) days prior to each February 1st, May 1st, August 1st, or November 1st,
increase or decrease the amount of his payroll deduction as of each Payroll
Deduction Date.

     Notwithstanding the foregoing, a Participant may by written notice to the
Company at least twenty (20) days prior to any Payroll Deduction Date
discontinue payroll deductions as of such Payroll Deduction Date. Payroll
deductions may not thereafter be resumed until the next following February 1st,
May 1st, August 1st, or November 1st. In the event that a Participant
ceases his payroll deductions as provided herein, such Participant's Cash
Account balance will be used, as of the next Right to Purchase Date, to purchase
Common Shares. The Committee may impose such other restrictions on the right to
cease payroll deductions as it may deem appropriate.

     9.  NO INTEREST ON CASH ACCOUNTS.  The payroll deductions and other monies
held in Participants' Cash Accounts shall bear no interest.

     10.  PURCHASE PRICE AND EXERCISE OF RIGHT TO PURCHASE.  The purchase price
for a Common Share under each Offering shall be determined by the Committee as
of the Right to Purchase Date of each Offering and shall be stated as a
percentage of the fair market value of a Common Share on the Right to Purchase
Date of the Offering. Such purchase price shall be equal to eighty-five percent
(85%) of the per share fair market value of the Common Shares as of the Right to
Purchase Date.

     The fair market value of a Common Share on any date shall be the average of
the high and low price per share of the Common Shares (or, if applicable, the
price paid by the Custodian) on the American Stock Exchange or on any national
stock exchange on such date or, if no such sales of Common Shares are made on
such date, on the next preceding date on which sales of Common Shares were made
on the American Stock Exchange or on any national stock exchange.

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     Each Participant shall be deemed to have been granted a Right to Purchase
on the Effective Date of each offering for the number of whole Common Shares
which the Participant would be able to purchase with the balance in his Cash
Account. Each outstanding Right to Purchase will be exercised automatically on
the Right to Purchase Date to purchase the number of whole Common Shares which
the amount in the Participant's Cash Account at that time is sufficient to
purchase at the applicable purchase price. Any amounts remaining in a
Participant's Cash Account after such application will remain in the Cash
Account for use during the next Offering Period.

     The Custodian shall purchase the number of Common Shares with respect to
which Rights to Purchase have been exercised beginning on the Right to Purchase
Date. The Custodian shall establish and maintain a separate Share Account for
each Participant, which shall be credited with the number of whole Common Shares
purchased on the Right to Purchase Date on behalf of each Participant. A
Participant may withdraw the Common Shares credited to his Share Account on a
first-in-first-out basis by written notice to the Custodian at least twenty (20)
days prior to any February 1st, May 1st, August 1st, or November 1st.
A Participant may withdraw all or a portion of the Common Shares which were
credited to his Share Account on or prior to the Right to Purchase Date
immediately preceding such February 1st, May 1st, August 1st, or November 1st.
A Participant will be charged a fee by the Custodian for each such
withdrawal. The amount of such fee shall be as agreed from time to time by the
Custodian and the Company. The Custodian shall deliver to such Participant a
share certificate issued in his name for the number of whole Common Shares he
wishes to withdraw from his Share Account. At least annually, there shall be
delivered to each Participant a statement of his Share Account showing the
number of Common Shares purchased during the preceding twelve months (or lesser
period of existence of the Offering), the Right to Purchase prices paid for the
Common Shares, the dates of purchase of the Common Shares, and the amount to be
included in the ordinary income of the Participant at such time as the Common
Shares are sold, as prescribed by Section 423(c) of the Code.

     The initial Custodian shall be selected by the Company prior to the initial
Offering under the Plan. The Company may remove any Custodian, and any Custodian
may resign, upon 60 days' notice in writing to the other party, as the case may
be. Any successor custodian shall be appointed by the Company. The Company shall
pay all fees and costs of the Custodian as agreed between the Company and the
Custodian from time to time, except for the withdrawal fees payable by
Participants as described above.

     The Company may, at any time after the end of an Offering Period, close the
Cash Accounts of eligible employees not participating in another Offering under
the Plan, in which case any balance in such Cash Accounts will be refunded to
such eligible employees. Any balance remaining in the Cash Account of a
Participant after the end of an offering Period shall remain in the
Participant's Cash Account for use in the next Offering.

     The Company may, at any time after the end of an Offering Period, close the
Share Accounts related to such Offering, in which case the Custodian shall
deliver to each Participant in that Offering a share certificate issued in his
name for the number of whole Common Shares credited to his Share Account,
without charging a withdrawal fee.

     11.  REGISTRATION OF CERTIFICATES.  Common Shares withdrawn by Participants
will be registered, and share certificates therefore will be issued, only in the
name of the Participant.

     12.  RIGHTS AS SHAREHOLDERS.  With respect to Common Shares subject to a
Right to Purchase, pending exercise of such Right to Purchase, the Participant
shall not be deemed to be a stockholder of the Company and shall not have any of
the rights or privileges of a stockholder. A Participant who has exercised a
Right to Purchase shall have the rights and privileges of a stockholder
immediately following such exercise.

     13.  USE OF PLAN FUNDS.  Subject to Paragraph 10 hereof, to the extent the
Company issues Common Shares to Participants upon exercise of Rights to Purchase
granted under the Plan, the amounts received by the Company may be used for any
corporate purpose or purposes of the Company.

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     14.  TERMINATION OF EMPLOYMENT.  If the employment of a Participant
terminates for any reason, including death, disability, retirement or other
cause, his participation in the Plan automatically and without any act on his
part shall terminate as of the date of termination of his employment. As soon as
practicable following the Participant's termination of employment, the Company
shall refund to such Participant (or his beneficiary, in the case of the
participant's death) any and all amounts in his Cash Account and the Custodian
shall deliver to such Participant (or beneficiary) a share certificate issued in
his name for the number of whole Common Shares credited to his Share Account
through prior Offerings.

     15.  RESTRICTION UPON ASSIGNMENT.  Rights to Purchase granted to a
Participant under the Plan shall not be transferable (including pledge or
hypothecation), and shall be exercisable during the Participant's lifetime only
by the Participant. The Company shall not recognize and shall be under no duty
to recognize assignment or purported assignment by a Participant of his Rights
to Purchase or of any rights under his Rights to Purchase.

     16.  GOVERNMENT REGULATIONS.  The Company's obligation to issue, sell or
deliver any Common Shares under this Plan is subject to all applicable laws and
regulations and to the approval of any governmental or regulatory authority
required in connection with the issuance, sale or delivery of such Common
Shares. The Company shall not be required to issue, sell or deliver any Common
Shares under this Plan prior to

          (a) the approval of such Common Shares for listing on any national
     stock exchange (if such approval must be obtained), and

          (b) the completion of any registration or other qualification of such
     Common Shares under any state or Federal law or any ruling or regulation of
     any governmental or regulatory authority which the Company in its sole
     discretion shall determine to be necessary or advisable.

     17.  ADJUSTMENT OF SHARES UPON CHANGES IN CAPITALIZATION.  Notwithstanding
any other provision of the Plan, in the event of any change in the outstanding
Common Shares, by reason of a dividend payable in Common Shares,
recapitalization, merger, consolidation, split-up, combination or exchange of
shares, or the like, appropriate adjustments shall be made to the aggregate
number and class of shares subject to the Plan, the number and class of shares
subject to outstanding Rights to Purchase, the purchase price per share (in the
case of shares subject to outstanding Rights to Purchase), and the number and
class of shares which may be subscribed to by any one employee, and such other
adjustments shall be made as may be deemed equitable by the Committee.

     18.  DIVIDEND REINVESTMENT.  All cash dividends paid, if any, with respect
to the Common Shares credited to a Participant's Share Account shall be added to
the Participant's Cash Account and thereby shall be applied to exercise Rights
to Purchase to purchase whole Common Shares on the Right to Purchase Date next
following the date such cash dividends are paid by the Company. An election to
leave Common Shares with the Custodian shall constitute an election to apply the
cash dividends with respect to such shares to the exercise of Rights to Purchase
hereunder. Common Shares so purchased shall be applied to the Common Shares
credited to each Participant's Share Account.

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     19.  AMENDMENT OF THE PLAN.  To the extent permitted by law, the Committee
may at any time and from time to time make such changes in the Plan and
additions to it as the Committee deems advisable; provided, however, that,
except as provided in Paragraph 17 hereof, and except with respect to changes or
additions in order to make the Plan comply with Section 423 of the Code, the
Committee may not make any changes or additions which would adversely affect
Rights to Purchase previously granted under the Plan and may not, without
approval of the stockholders of the Company, make any changes or additions which
would (a) increase the aggregate number of Common Shares subject to the Plan or
which may be subscribed to by an eligible employee, (b) decrease the minimum
purchase price for a Common Share, or (c) change any of the provisions of the
Plan relating to eligibility for participation in Offerings.

     20.  DURATION AND TERMINATION OF THE PLAN.  The Plan shall terminate upon
the earlier to occur of the following two events:

          (a) The purchase by eligible employees of all of the Common Shares
     subject to the Plan; or

          (b) The termination of the Plan by the Board.

     No termination of the Plan shall affect Rights to Purchase previously
granted under this Plan.

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                                                                    EXHIBIT 10.4

                          EXECUTIVE SEVERANCE AGREEMENT

     This Executive Severance Agreement ("Agreement") is made as of the ____ day
of _________, ____ by and between Core Molding Technologies, Inc., a Delaware
corporation, with its principal office at 800 Manor Park Drive, Columbus, Ohio
43228-0183 (the "Company"), and ______________, an individual, residing at
_________________________ (the "Executive").

     WHEREAS, the Company wishes to assure itself of stability and continuity of
senior management and recognizes that organizational changes, including a change
in control of the Company, could negatively affect the retention of senior
executive personnel of the Company and the decision-making and performance of
such personnel with respect to such organizational changes, and the
effectiveness of retention and incentivizing features of other elements of the
Company's executive compensation program;

     WHEREAS, the Executive is currently employed by the Company in the capacity
of __________________ and the Executive is one of the key executives of the
Company; and

     WHEREAS, the Company and the Executive now desire to achieve a degree of
certainty as to the Executive's rights to compensation upon certain terminations
of employment during the Term of this Agreement (as defined below).

     NOW, THEREFORE, in consideration of the premises and mutual covenants
contained herein, and other good and valuable consideration, the receipt of
which is hereby acknowledged, the parties hereby agree as follows:

1. Term of This Agreement

     The Term of this Agreement shall commence on the date hereof and continue
until December 31, 2007; provided, however, that commencing on January 1, 2008
and each January 1st thereafter, the above-referenced date and the Term of this
Agreement shall automatically be extended for one additional year unless at
least thirty days prior to such January 1st date, the Company or the Executive
shall have given notice that it or he does not wish to extend this Agreement.
The phrase "Term of this Agreement" shall refer to the period commencing on the
date hereof and ending on December 31, 2007 (or any extension thereof pursuant
to the preceding sentence).

     Nothing contained in this Agreement shall prevent the Company at any time
from terminating the Executive's right and obligation to perform service for the
Company or prevent the Company from removing the Executive from any position
which the Executive holds in the Company, subject to the obligation of the
Company to make payments and provide benefits if and to the extent required
under this Agreement, which payments and benefits shall be full and complete
liquidated damages, insofar as the obligations of the Company pursuant to this
Agreement are concerned, for any such action taken by the Company. The Executive
specifically acknowledges that, except for this Agreement, his employment by the
Company is employment-at-will, subject to termination by the Executive, or by
the Company, at any time

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with or without cause. The Executive acknowledges that such employment-at-will
status cannot be modified except in a specific writing which has been authorized
or ratified by the Company's Board of Directors (the "Board").

2. Change in Control

     Notwithstanding the other provisions of this Agreement, no benefit shall be
payable under this Agreement unless a Change in Control (as defined below) of
the Company shall be deemed to have occurred and the Executive's employment by
the Company shall have been terminated (by the Executive or by the Company)
within two (2) years thereafter. For purposes of this Agreement, a "Change in
Control of the Company" shall be deemed to have occurred if any one of the
following takes place:

     (a) The Company is merged, consolidated or reorganized into or with another
corporation, partnership, limited liability company, trust, or other legal
person (collectively referred herein as a "Business Entity"), and immediately
after such merger, consolidation, or reorganization less than fifty percent
(50%) of the combined voting power of the then-outstanding securities of such
Business Entity immediately after such transaction are held in the aggregate by
the holders of voting stock of the Company immediately prior to such
transaction;

     (b) The Company sells all or substantially all of its assets to any other
Business Entity, and less than fifty percent (50%) of the combined voting power
of the then-outstanding securities of such Business Entity immediately after
such sale are held in the aggregate by the holders of voting stock of the
Company immediately prior to such sale;

     (c) There is a report filed 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 ("Exchange Act"), disclosing that any person (as
the term "person" is used in Section 13(d)(3) or Section 14(d)(2) of the
Exchange Act) has become the beneficial owner (as the term "beneficial owner" is
defined under Rule 13d-3 or any successor rule or regulation promulgated under
the Exchange Act) of securities representing 50% or more of the voting stock of
the Company;

     (d) The Company files a report or proxy statement with the Securities and
Exchange Commission pursuant to the Exchange Act disclosing in response to Form
8-K or Schedule 14A (or any successor schedule, form or report or item therein)
that a change in control of the Company has occurred; or

     (e) If during any period of two consecutive years, individuals who at the
beginning of any such period constitute the directors of the Company cease for
any reason to constitute at least a majority thereof, provided, however, that
for purposes of this Section 2(e), each director who is first elected, or first
nominated for election by the Company's stockholders, by a vote of at least two
thirds of the directors of the Company (or a committee thereof) then still in
office who were directors of the Company at the beginning of any such period
will be deemed to have been a director of the Company at the beginning of such
period.

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3. Notice of Termination; Date of Termination

     (a) Any termination of the Executive's employment by the Company or by the
Executive shall be communicated by written Notice of Termination to the other
party thereto. For purposes of this Agreement, a "Notice of Termination" shall
mean a notice that shall indicate the specific termination provision in this
Agreement relied upon and shall set forth in reasonable detail the facts and
circumstances claimed to provide a basis for termination of employment under the
provision so indicated. Furthermore, either the Executive or the Company may
give a Notice of Termination to the other party for the purpose of terminating
this Agreement, as such, without terminating the Executive's Employment with the
Company, which Notice of Termination shall have the effect of terminating this
Agreement at the expiration of the Term of this Agreement as in effect on the
date of giving such Notice of Termination.

     (b) "Date of Termination" shall mean:

          (i)  If the Agreement is terminated for Disability (as defined in
               Section 7 below), thirty (30) days after Notice of Termination is
               given (provided that the Executive shall not have returned to the
               performance of his duties on a full-time basis during such thirty
               (30) day period),

          (ii) If the Executive terminates his employment voluntarily, the date
               specified in the Notice of Termination,

          (iii) The expiration or termination of the Term of this Agreement, and

          (iv) If the Executive's employment is terminated for any other reason,
               the date on which a Notice of Termination is given; provided that
               if within thirty days after any Notice of Termination is given
               the party receiving such Notice of Termination notifies the other
               party that a dispute exists concerning the termination, the Date
               of Termination shall be the date on which the dispute is finally
               determined, either by mutual written agreement of the parties, by
               a binding and final arbitration award or by a final judgment,
               order or decree of a court of competent jurisdiction (the time
               for appeal therefrom having expired and no appeal having been
               perfected).

4. Compensation After Change in Control

     Immediately after any Change in Control of the Company shall be deemed to
have occurred, the Executive shall be entitled to receive for the remainder of
the Term of this Agreement (as extended from time to time) an annual base salary
(the "Base Salary"), payable in installments in accordance with the current
practice of the Company, at an annual rate at least equal to the aggregate
annual base salary payable to the Executive as of the date hereof. The Base
Salary may be increased (but may not be decreased) at any time and from time to
time by

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action of the Board of Directors of the Company, any committee thereof, or any
individual having authority to take such action, in accordance with the
Company's regular practices, and, if so increased, such increased Base Salary
shall thereafter be the Base Salary for the purposes of this Agreement. Any
increase in the Base Salary shall not serve to limit or reduce any other
obligation of the Company hereunder.

5. Benefit Plans

     After a Change in Control of the Company shall be deemed to have occurred,

     (a) The Company agrees to continue in effect any perquisite, benefit or
compensation plan (including without limitation the Company's annual cash profit
sharing plan, long-term equity incentive plan, stock purchase plan, section
401(k) plan, dental plan, life insurance plan, health and accident plan,
disability plan, or deferred compensation plan) in which the Executive currently
participates (collectively referred to as the "Benefit Plans"); or to maintain
plans providing substantially similar benefits, unless the continuation of any
such plan (or similar plan) would not, in the good faith discretion of the
Company, be an economically reasonable decision, taking into account all facts
and circumstances;

     (b) Other than as provided in paragraph (a), the Company agrees not to take
any action that would adversely affect the Executive's participation in, or
materially reduce the benefits under, any of the Benefit Plans or deprive the
Executive of any material fringe benefit currently enjoyed; and

     (c) The Company agrees to provide the Executive with the number of paid
vacation days to which he is entitled in accordance with the Company's normal
vacation policy in effect on the date hereof.

6. Termination for Cause

     (a) The Company may terminate the Executive's employment for Cause. For the
purposes of this Agreement, the Company shall have "Cause" to terminate
employment hereunder only (i) if termination shall have been the result of an
act or acts of dishonesty by the Executive constituting a felony and resulting
or intended to result directly or indirectly in substantial gain or personal
enrichment to the Executive at the expense of the Company; or (ii) upon the
willful and continued failure by the Executive substantially to perform his
duties with the Company (other than any such failure resulting from incapacity
due to mental or physical illness) after a demand in writing for substantial
performance is delivered by the Board, which demand specifically identifies the
manner in which the Board believes that the Executive has not substantially
performed his duties, and such failure results in demonstrably material injury
to the Company. The Executive's employment shall in no event be considered to
have been terminated by the Company for Cause if such termination took place as
the result of (i) bad judgment or negligence, or (ii) any act or omission
without intent of gaining therefrom directly or indirectly a profit to which the
Executive was not legally entitled, or (iii) any act or omission believed in
good faith to have been in or not opposed to the interest of the Company, or
(iv) any act or omission in respect of which a determination is made that the
Executive met the applicable

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standard of conduct prescribed for indemnification or reimbursement or payment
of expenses under the By-Laws of the Company or the laws of the State of
Delaware, in each case as in effect at the time of such act or omission. The
Executive shall not be deemed to have been terminated for Cause unless and until
there shall have been delivered to him a copy of a resolution duly adopted by
the affirmative vote of a majority of the entire membership of the Board at a
meeting of the Board called and held for the purpose (after reasonable notice to
the Executive and an opportunity for him, together with his counsel, to be heard
before the Board), finding that in the good faith opinion of the Board the
Executive was guilty of conduct set forth above in clauses (i) or (ii) of the
first sentence of this paragraph and specifying the particulars thereof in
detail.

     (b) If the Executive's employment shall be terminated for Cause, the
Company shall pay the Executive his full Base Salary through the Date of
Termination at the rate in effect at the time Notice of Termination is given and
the Company shall have no further obligations to the Executive under this
Agreement.

7. Termination for Death or Disability

     (a) The Company may terminate this Agreement on account of the Executive's
death, or for "Disability" if the Executive is "Disabled." For purposes of this
Agreement, the Executive shall be considered Disabled only if, as a result of
his incapacity due to physical or mental illness, he shall have been absent from
his duties with the Company on a full-time basis for a period of one year and a
physician selected by him is of the opinion that (i) he is suffering from total
disability, as determined by the Executive's physician and (ii) he will qualify
for Social Security Disability Payment and (iii) within thirty (30) days after
written notice of termination is given, he shall not have returned to the
full-time performance of his duties.

     (b) If the Company terminates this Agreement on account of the Executive's
death or because the Executive is Disabled, the Company shall pay the Executive
(or his successors) his full Base Salary through the Date of Termination at the
rate in effect at the time Notice of Termination is given and the Company shall
have no further obligations to the Executive under this Agreement.

8. Termination Following Retirement

     (a) This Agreement will terminate upon the Executive's Retirement. For
purposes of this Agreement, "Retirement" shall mean termination of the
Executive's employment with his consent in accordance with the Company's
retirement policy (including early retirement) generally applicable to its
salaried employees or in accordance with any retirement arrangement established
with the Executive's consent with respect to him.

     (b) In the event this Agreement terminates following the Executive's
Retirement, the Company shall pay to the Executive all amounts that may be due
and payable at his full Base Salary through the Date of Termination at the rate
in effect at the time Notice of Termination is given and the Company shall have
no further obligations to the Executive under this Agreement.

                                       5

<PAGE>

9. Termination of Employment by the Executive for Good Reason

     (a) Upon the occurrence of a Change in Control, the Executive may terminate
his employment for Good Reason. For purposes of this Agreement, "Good Reason"
will exist if any one or more of the following occur:

          (i)  Failure by the Company to honor any of its obligations under
               Sections 4, 5, or 11; or

          (ii) Any purported termination by the Company of the Executive's
               employment that is not effected pursuant to a Notice of
               Termination satisfying the requirements of Section 3 above and,
               for purposes of this Agreement, no such purported termination
               shall be effective; or

          (iii) Failure to elect or reelect or otherwise to maintain the
               Executive to the office or the position (or a substantially
               equivalent office or position) in the Company that the Executive
               held immediately prior to a Change in Control, or the removal of
               the Executive as a Director of the Company (or any successor
               thereto) if the Executive shall have been a Director of the
               Company immediately prior to the Change in Control; or

          (iv) An adverse change in the compensation or benefits of the
               Executive or in the nature or scope of the authorities, powers,
               functions, responsibilities or duties attached to the position
               with the Company which the Executive held immediately prior to
               the Change in Control, (including but not limited to assignment
               by the Company to the Executive of duties inconsistent with his
               or her current positions, duties, responsibilities, and status
               with the Company or a change of his or her compensation or
               benefits or his or her reporting responsibilities, titles, or
               offices currently in effect) without the prior written consent of
               the Executive, which is not remedied within 10 calendar days
               after receipt by the Company of written notice from the Executive
               of such change; or

          (v)  A determination by the Executive made in good faith that as a
               result of a Change in Control and a change in circumstances
               thereafter significantly affecting his position, including
               without limitation a change in the scope of the business or other
               activities for which he was responsible immediately prior to a
               change in control, he has been rendered substantially unable to
               carry out, has been substantially hindered in the performance of,
               or has suffered a substantial reduction in, any of the
               authorities, powers, functions, responsibilities or duties
               attached to the position held by the Executive immediately prior
               to the Change in Control, which situation is not remedied within
               10 calendar

                                       6

<PAGE>

               days after written notice to the Company from the Executive of
               such determination; or

          (vi) The Company shall relocate its principal executive offices, or
               require the Executive to have his principal location of work
               changed, to any location which is in excess of 50 miles from the
               location thereof immediately prior to the Change in Control or to
               travel away from his office in the course of discharging his or
               her responsibilities or duties hereunder significantly more (in
               terms of either consecutive days or aggregate days in any
               calendar year) than was required of him prior to the Change in
               Control without, in either case, his prior written consent.

10. Compensation Upon Certain Terminations

     (a) If, within the two-year period subsequent to a Change in Control, (A)
the Company shall terminate the Executive's employment other than pursuant to
Sections 6 or 7 hereof, or (B) the Executive shall terminate his employment for
Good Reason pursuant to Section 9 hereof, then the Company shall pay to the
Executive in a lump sum on the fifth business day following the Date of
Termination, the following amounts:

          (i)  The Executive's Base Salary through the Date of Termination at
               the rate in effect at the time Notice of Termination is given;
               and

          (ii) In lieu of any further salary payments for periods subsequent to
               the Date of Termination, an amount equal to 2.99 times the sum of
               (A) the average of the Executive's Base Salary as reported on the
               Executive's W-2 form for the five (5) calendar years prior to the
               year in which such termination occurs, and (B) the average of the
               cash bonuses earned by the Executive as reported on the
               Executive's W-2 form for the five (5) calendar years prior to the
               year in which such termination occurs, provided that the sum of
               clauses (A) and (B) of this Section 10(a)(ii) shall not exceed
               2.99 times the "Base Amount" as defined in Section 280G(b)(3) of
               the Internal Revenue Code of 1986, or any successor provision
               thereof.

     (b) If, within the two-year period subsequent to a Change in Control of the
Company, (i) the Company shall terminate the Executive's employment other than
pursuant to Sections 6 or 7 hereof or (ii) the Executive shall terminate his
employment for Good Reason pursuant to Section 9 hereof, all unvested stock
options, stock appreciation rights, and restricted stock awards shall
immediately vest in full.

11. Successors, Binding Agreement

     The Company will 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 the Executive, to expressly assume

                                       7

<PAGE>

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. Failure of the Company to obtain such agreement prior to the
effectiveness of any such succession shall be a breach of this Agreement and
shall entitle the Executive to compensation from the Company in the same amount
and on the same terms as would apply if the Executive terminated his employment
within the two-year period following a Change in Control, except that for
purposes of implementing the foregoing, the date on which any such succession
becomes effective shall be deemed the Date of Termination. As used in this
Agreement, "Company" shall mean the Company as hereinbefore defined and any
successor to its business and/or assets as aforesaid that executes and delivers
the agreement provided for in this section or which otherwise becomes bound by
all the terms and provisions of this Agreement by operation of law. This
Agreement shall inure to the benefit of and be enforceable by the Executive's
personal or legal representatives, executors, administrators, successors, heirs,
distributees, devisees and legatees. If the Executive should die while any
amount would still be payable hereunder had the Executive continued to live, all
such amounts, unless otherwise provided herein, shall be paid in accordance with
the terms of this Agreement to his devisee, legatee, or other designee or, if
there be no such designee, to his estate.

12. Notice

     Notices and all other communications provided for in this Agreement shall
be in writing and shall be deemed to have been duly given when delivered or
mailed by United States registered mail, return receipt requested, postage
prepaid, addressed to the respective addresses set forth in the introductory
paragraph of this Agreement, provided that all notices to the Company shall be
directed to the attention of the Chairman of the Board of the Company, or to
such other address as either party may have furnished to the other in writing in
accordance herewith, except that notices of change of address shall be effective
only upon receipt.

13. Miscellaneous

     No provisions of this Agreement may be modified, waived or discharged
unless such modification, waiver or discharge is agreed to in writing signed by
the Executive and such officer as may be specifically designated by the Board.
No waiver by either party hereto at any time of any breach by the other party
hereto of, or compliance with, any condition or provision of this Agreement to
be performed by such other party shall be deemed a waiver of similar or
dissimilar provisions or conditions at the same or at any prior or subsequent
time. No agreement or representations, oral or otherwise, express or implied,
with respect to the subject matter hereof have been made by either party which
are not set forth expressly in this Agreement. The validity, interpretation,
construction and performance of this Agreement shall be governed by the laws of
the State of Delaware.

14. Validity

     The invalidity or uneforceability of any one or more provisions of this
Agreement shall not affect the validity or enforceability of any other provision
of this Agreement, which shall remain in full force and effect.

                                       8

<PAGE>

15. Counterparts

     This Agreement may be executed in one or more counterparts, each of which
shall be deemed to be an original but all of which together will constitute one
and the same instrument.

16. Arbitration

     Any dispute or controversy arising under or in connection with this
Agreement shall be settled exclusively by arbitration in Columbus, Ohio in
accordance with the rules of the American Arbitration Association then in
effect; provided that all arbitration expenses shall be borne by the Company.
Notwithstanding the pendency of any dispute or controversy concerning
termination or the effects thereof, the Company will continue to pay the
Executive his full compensation in effect immediately before any Notice of
Termination giving rise to the dispute was given and continue him as a
participant in all compensation, benefit and insurance plans in which he was
then participating, until the dispute is finally resolved. Amounts paid under
this paragraph are in addition to all other amounts due under this Agreement and
shall not be offset against or reduce any other amounts due under this
Agreement. Judgment may be entered on the arbitrators' award in any court having
jurisdiction; provided, however, that the Executive shall be entitled to seek
specific performance of his right to be paid until the Date of Termination
during the pendency of any dispute or controversy arising under or in connection
with this Agreement.

17. Tax Matters - Optional Right of Partial Disclaimer

     It is recognized that under certain circumstances:

     (a) Payments or benefits provided to the Executive under this Agreement
might give rise to an "excess parachute payment" within the meaning of Section
280G of the Internal Revenue Code of 1986, or any successor provision thereof.

     (b) It might be beneficial to the Executive to disclaim some portion of the
payment or benefit in order to avoid such "excess parachute payment" and thereby
avoid the imposition of an excise tax resulting therefrom.

     (c) Under such circumstances it would not be to the disadvantage of the
Company to permit the Executive to disclaim any such payment or benefit in order
to avoid the "excess parachute payment" and the excise tax resulting therefrom.

Accordingly, the Executive may, at the Executive's option, exercisable at any
time or from time to time, disclaim any entitlement to any portion of the
payment or benefits arising under this Agreement which would constitute "excess
parachute payments," and it shall be the Executive's choice as to which payments
or benefits shall be so surrendered, if and to the extent that the Executive
exercises such option, so as to avoid "excess parachute payments."

                                       9

<PAGE>

18. Withholding of Taxes

     The Company may withhold from any amounts payable under this Agreement all
federal, state, city or other taxes as shall be required pursuant to any law or
government regulation or ruling.

19. Legal Fees and Expenses

     It is the intent of the Company that the Executive not be required to incur
the legal expenses associated with (i) the interpretation of any provision in,
or obtaining of any right or benefit under, this Agreement or (ii) the
enforcement of his rights under this Agreement by litigation or other legal
action, because the cost and expense thereof would substantially detract from
the benefits intended to be extended to the Executive hereunder. Accordingly,
the Company irrevocably authorizes the Executive from time to time to retain
counsel of his choice, at the expense of the Company as hereafter provided, to
represent the Executive in connection with the interpretation or enforcement of
this Agreement, including the initiation or defense of any litigation or other
legal action, whether by or against the Company or any Director, officer,
stockholder or other person affiliated with the Company, in any jurisdiction.
Notwithstanding any existing or prior attorney-client relationship between the
Company and such counsel, the Company irrevocably consents to the Executive's
entering into an attorney-client relationship with such counsel, and in that
connection the Company and the Executive agree that a confidential relationship
shall exist between the Executive and such counsel. The Company shall pay or
cause to be paid and shall be solely responsible for any and all attorneys' and
related fees and expenses incurred by the Executive under this Section 19.

     IN WITNESS WHEREOF, the parties have executed this Agreement as of the day
and year first written above.

                                        CORE MOLDING TECHNOLOGIES, INC.

                                        By:
                                            ------------------------------------
                                        Name:
                                        Title:
                                        Date:

                                        By:
                                            ------------------------------------
                                        Name:
                                        Title:
                                        Date:

                                       10

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