Interim President and CEO Employment Agreement between CARBO Ceramics Inc. and Jesse P. Orsini

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Summary

CARBO Ceramics Inc. appoints Jesse P. Orsini as interim President and CEO, effective December 2, 2005, with a monthly salary of $75,000. Orsini is also elected as a Director during his employment. The agreement guarantees a minimum employment period of six months, after which it renews monthly unless either party gives one month's notice to end it. The letter outlines Orsini's duties and compensation during the company's search for a permanent successor.

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EX-10.18 3 d33288exv10w18.htm LETTER AGREEMENT exv10w18  

Exhibit 10.18
December 2, 2005
Mr. Jesse P. Orsini
305 Tampico Street
Irving, Texas 75062
Dear Jesse:
     Thank you again for agreeing to serve as interim President and Chief Executive Officer of CARBO Ceramics Inc. while the Company conducts a search for a permanent successor. At this critical time, the Company needs you, and your presence there provides me personally with great comfort and confidence. I am sure that the staff and other shareholders share this view.
     As we have discussed, your appointment will be effective on December 2, 2005, and you will have such duties and responsibilities as are consistent with your positions. You perhaps know what they are better than we do. The Board has also elected you a Director, and they anticipate that you will serve in that role during your employment.
     As compensation for your services, the Company will pay you $75,000 per month, in accordance with its normal payroll practices. I know that your undertaking this job will entail disruptions and inconveniences to you and your family, so the Company expects to pay you for a minimum of six months (unless you are unwilling to continue serving). At the end of six months, your employment will be extended automatically for successive one-month periods, at the rate of $75,000 per month, unless one month’s notice otherwise is given by either of us.
     
 
  With great respect and thanks,
 
    
 
  William C. Morris
 
  Chairman of the Board
 
  For CARBO Ceramics Inc.
Agreed to and accepted:
     
 
/s/  Jesse P. Orsini
    
Jesse P. Orsini