Executive Employment and Change in Control Agreements between Ferro Corporation and Executive Officers

Summary

Ferro Corporation has entered into an executive employment agreement with Hector R. Ortino, providing for a severance payment equal to three times his annual compensation if terminated. The company also has change in control agreements with several other executive officers, offering protections in the event of a company takeover. These agreements outline compensation and benefits for executives under specific circumstances. As of 1999, Ferro Corporation no longer signs new executive employment agreements but continues to use change in control agreements for key executives.

EX-10.H 6 l92990aex10-h.txt EXHIBIT 10(H) EXHIBIT 10(h) SCHEDULE I Ferro Corporation has entered into an executive employment agreement with Hector R. Ortino which is substantially identical in all material respects to the Form of Amended and Restated Executive Employment Agreement (Exhibit 10(a) to Ferro Corporation's Form 10-Q for the three months ended March 31, 1998), except the lump sum severance payment for Mr. Ortino is equal to a full year's compensation (base salary and incentive compensation) multiplied by three. Beginning in 1999, the Company discontinued its practice of signing executive employment agreements. The Company has entered into change in control agreements substantially identical with its form of change in control agreement (Exhibit 10(j) to Ferro Corporation's Form 10-K for the year ended December 31, 2000) with the following executive officers: James C. Bays Dale G. Kramer Millicent W. Pitts Robert A. Rieger Bret W. Wise