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Exhibit 10.21
GENTEK INC.
December 31, 2008
Robert D. Novo
2 Kingsbrook Court
Mendham, NJ 07945
Dear Rob,
As discussed, this letter
agreement (the “Letter Agreement”) shall entitle you to
the same rights to severance that a Severance Participant (as
defined in the Gentek Inc. Key Employee Retention Plan (the
“KERP”)) was entitled to receive under Section 4.01 of
the KERP prior to its recent termination, subject to the following
conditions and the conditions set forth in the KERP and the terms
set forth in the KERP:
·
You agree that you may not terminate
your employment with Gentek Inc. (the “Company”) for
Good Reason (as defined in
the KERP) later than the date two (2) years following the
occurrence of the particular
action that constitutes Good Reason. The two (2) year limitation
shall be in addition to any
other limitation on your right to terminate your employment for
Good Reason under the KERP;
·
You agree that as a condition
to
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