Employment Agreements between Minerals Technologies Inc. and Executive Employees
Minerals Technologies Inc. has entered into employment agreements with several executive employees, specifying their positions, base salaries, and the terms of their employment. Each agreement outlines the start and end dates, with some allowing for extension under certain conditions. The agreements were executed by company representatives and are substantially identical to a previously filed form, except for noted differences. These contracts set out the key terms of employment, including salary and duration, for each executive listed.
EXHIBIT 10.5
Employment Agreements have been executed by the Company and the indicated employees, substantially identical in all material respects to the form of employment agreement filed as Exhibit 10.5 to the Company's 2001 Annual Report on Form 10-K except as noted below. Each Employment Agreement was executed by Mr. Saueracker for the Company, except the agreement with Mr. Saueracker, which was executed by Mr. John Curcio for the Company.
| EMPLOYEE | BASE | DATE OF AGREEMENT | TERMINATION DATE OF AGREEMENT |
| | | | |
| Gordon S. Borteck | $ | 200,000 | January 1, 2002 | June 30, 2003 |
| Alain Bouruet-Aubertot | $ | 250,000 | November 25, 2002 | May 31, 2004 |
| Michael A. Cipolla Vice President - Controller and Chief Accounting Officer | $
| 160,000 | March 1, 2001
| February 28, 2002 |
| Kirk G. Forrest | $ | 270,000 | December 1, 2004 | May 31, 2006 |
| D. Randy Harrison Vice President and Managing Director, Performance Minerals | $ | 200,000 | January 1, 2002 | June 30, 2003 |
| William Kromberg Vice President - Taxes | $
| 200,000 | March 1, 2001 | February 28, 2002 |
| Kenneth Massimine | $ | 240,000 | January 1, 2002 | June 30, 2003 |
| Paul R. Saueracker Chairman, President and Chief Executive Officer | $ | 550,000 | January 1, 2002 | December 31, 2003 |
| John A. Sorel | $ | 265,000 | January 1, 2002 (amended on | June 30, 2003 |
