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EXHIBIT 10(g)
[DETREX CORPORATION LETTERHEAD]
June 23, 1993
Mr. Robert M. Currie
5149 Cherokee Court
Troy, MI 48098
Dear Bob:
Confirming our conversation on June 22, 1993, I have concluded that you
would make an excellent member of the Detrex management team and hereby tender
the following Offer of Employment on behalf of Detrex:
POSITION: Corporate General Counsel
EFFECTIVE DATE: July 15, 1993
SALARY: $120,000 base per year, payable bi-weekly.
TERM OF EMPLOYMENT: July 15, 1993 and continue until July 14, 1996. The
term of employment will automatically extend for an
additional one (1) year period unless communicated to
you in writing, at least 30 days prior to your
anniversary hiring date, and not to exceed a total
maximum of 10 years from original date of hire.
AUTOMOBILE: In lieu of a company car, your base pay will be
increased by $5,000 as a permanent car allowance.
The company will reimburse you for use of your
personal vehicle on company business at 28 cents per
mile.
BONUS: You will be a participant in the Executive Performance
Bonus Plan -- that program has not yet been finalized.
STOCK OPTIONS: You will be provided with 5,000 shares of Detrex
Corporation stock on option, over a five year period
of time. The price of said shares will be based on the
mean market price on the day that you begin your
employment with Detrex Corporation.
MEDICAL BENEFITS: Company and employee paid medical and hospitalization
coverage is effective 30 days after you begin
employment. You have a choice of two health care
organizations. Blue Care Network is offered with a
payroll deduction of $41.59 per pay period. CIGNA is
also offered with a payroll deduction of $23.08 per
pay period.
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DETREX CORPORATION
Mr. Robert M. Currie -2- June 23, 1993
LIFE INSURANCE: $5,000 term life insurance is company paid. Voluntary
$10,000 term life insurance is offered at a payroll
deduction of $6.00 per month. We also offer $100,000
Travelers life insurance at a payroll deduction of $60.00
per month.
PENSION PLAN: Full vesting occurs after five (5) full years of
employment.
STOCK PLAN: Employees are offered the opportunity to purchase company
stock through payroll deductions. By purchasing stock
through payroll deductions all commission and brokerage
fees are waived.
EXPENSES: All company/business expenses will be reimbursed by the
company upon submission of approved company expense forms.
DOCUMENTS: You will be expected to complete an employment application
form.
REPORTING: You will report to the President and CEO of Detrex
Corporation.
RESPONSIBILITIES: You will be an employee of Detrex Corporation and will be
based in Southfield, Michigan, with major efforts directed
towards Company legal matters. Appropriate in-house or
outside personnel resources will be assigned as necessary.
OTHER EMPLOYMENT: You will be allowed sufficient time to wind up your private
practice of law which includes the handling of three (3)
particular matters to their conclusions. Other than winding
up your private practice, you shall not directly or
indirectly render services to any other person or
organization for which you receive compensation or
otherwise engage in activities which would interfere
significantly with the performance of your duties at
Detrex.
SEVERANCE: Eighteen months of severance will be provided to you in the
event Detrex terminates your employment for any reason
other than "cause". "Cause" shall mean terminates because
of (a) refusal (other than by reason of incapacity due to
physical or mental illness) to perform the duties incident
to the office of general counsel; (b) the commission of a
felony, or the perpetration of a dishonest act or fraud
against the Company, or any affiliate or subsidiary
thereof, or (c) any act or omission by you which, in the
good faith opinion of the President and Chief Executive
Officer, and board, is injurious in any
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DETREX CORPORATION
Mr. Robert M. Currie -3- June 23, 1993
material respect to the financial condition, business or
reputation of the Company or any of its affiliates or
subsidiaries and which is the result of wilful misconduct
and gross negligence.
If you wish to accept this offer, please sign below and return with the
other documents requested.
Sincerely yours,
/s/ Joseph L. Wenzler
Joseph L. Wenzler
President
Accepted By: /s/ Robert M. Currie
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Dated: 6-23-93
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