1 EXHIBIT 10(h) [DETREX CORPORATION LETTERHEAD] March 23, 1993 Mr. Anthony Porter 9750 Allen Road Allen Park, MI 48101 Dear Tony: Enclosed please find a revised Offer of Employment. I certainly hope you join us in rebuilding this company. I know that you will make a fine addition to the Detrex Team. Detrex Corporation hereby tenders the following Offer of Employment to you: POSITION: Division General Manager SALARY: $90,000 base per year, payable every other week. SIGNING BONUS: Payment of $5,000.00 signing bonus on day of start. AUTOMOBILE: In lieu of a company car, your base pay will be increased by $6,000 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. Minimum Guarantee for part year 1993 = $10,000.00. MEDICAL BENEFITS: Company and employee paid medical and hospitalization coverage is effective the first day of employment. You have a choice of two health care organizations. Blue Care Network is offered with a payroll deduction of $41.59 per pay day. CIGNA is also offered with a payroll deduction of $23.08 per pay day. 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. 2 DETREX CORPORATION Anthony Porter -2- March 23, 1993 EXPENSES: All company/business expenses are reimbursed by the company upon submission of appropriate documentation. DOCUMENTS: You will be expected to complete an employment application form. REPORTING: Initially, you will report directly to the President and CEO of Detrex Corporation. No later than June 1993, you will report to the "To Be Named" Chemical Group Vice President. TIMING: Employment will begin as soon as you are available. RESPONSIBILITIES: You will be an employee of Detrex Corporation and will be based in Southeastern Michigan. You may have an interim 2-3 month (maximum) assignment out-of-state to assist in getting a troubled division "on line". SEVERANCE: Three months of severance will be provided during your first year of service with the Company. This will be increased by one month per year thereafter to a maximum of 12 months. 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/ Anthony E. Porter --------------------- Dated: 4/20/93 ---------------------------