Special Retention Agreement between AMCOL International Corporation and Frank B. Wright, Jr.

Summary

AMCOL International Corporation and Frank B. Wright, Jr. entered into this agreement to provide a $250,000 retention payment to Mr. Wright, provided he remains employed until a specified event, such as a change in control of the company, occurs within one year. If Mr. Wright leaves before a change in control or if no change in control happens within a year, no payment is due. The agreement also outlines conditions for termination and how payments interact with other change in control agreements. The agreement expires one year from the signing date.

EX-10.21 8 0008.txt MATERIAL CONTRACTS Exhibit 10.21 No. 2 SPECIAL RETENTION AGREEMENT This Agreement is entered into this 18th day of September, 2000 by and between AMCOL International Corporation ("Company") and Frank B. Wright, Jr. ("Employee"). WHEREAS, the Company considers it essential and in the best interest of the Company and its Shareholders to foster the continued employment of key management personnel; WHEREAS, Frank B. Wright, Jr. is presently employed as President of Volclay International, Inc. IT IS THEREFORE AGREED AS FOLLOWS: 1. The Company will pay to Employee the amount of $250,000.00, as consideration for the Employee remaining employed by the Company or its subsidiaries and continuing his or her duties until the completion of *. 2. No payment is due in the event the Employee shall terminate his or her employment, directly or indirectly, prior to a change in control or such change in control does not occur within one year from the date hereof. A change in control is defined as: the change in the legal or beneficial ownership of fifty-one percent (51%) of the shares of the Company's common stock within a six-month period other than by death or operation of law, or the sale of ninety percent (90%) or more of the Company's aggregate assets within a six-month period. Sale of the Company's stock in a subsidiary or a subsidiary's assets shall not be considered a Change in Control. 3. The Company may terminate Employee at any time, with or without cause, although termination without cause by the Company within one (1) month of a change in control shall be considered a termination upon a change in control. * An asterisk represents certain material which has been omitted pursuant to a request for confidential treatment filed with the Securities and Exchange Commission. Such omitted material has been filed separately with the SEC. 4. The Employee shall also be considered an employee of the Company if employed by a subsidiary. 5. Any payments received pursuant to this Agreement shall be credited against any payments due under any Change in Control Agreement, the Employee has with the Company. 6. The payment pursuant to this Agreement shall be made upon completion of *. 7. This Agreement shall expire one (1) year from the date hereof. AMCOL INTERNATIONAL CORPORATION By: /s/ Larry Washow Title: President EMPLOYEE: /s/ Frank B. Wright, Jr. Frank B. Wright, Jr.