SEPARATION AGREEMENT
This SEPARATION AGREEMENT ("Agreement") is entered into by and between PAUL LANGE, an
individual ("MR. LANGE"), and DYNAMIC MATERIALS CORPORATION, a Delaware corporation (the
"COMPANY") (collectively referred to herein as the "PARTIES"), as of September 1, 1998 (the
"RESIGNATION DATE").
RECITALS
WHEREAS, Mr. Lange has agreed to resign as a member of the Board of Directors of the Company, and as the
President and Chief Executive Officer of the Company effective as of the Resignation Date and as an employee
of the Company effective as of October 4, 1998 (the "EMPLOYMENT SEPARATION DATE");
WHEREAS, the Company has accepted Mr. Lange's resignation and wishes to provide Mr. Lange with certain
benefits, in consideration of his service to the Company and the promises and covenants of Mr. Lange contained
herein;
WHEREAS, Mr. Lange and the Company desire finally to compromise, settle and discharge all claims,
controversies, demands, actions or causes of action which Mr. Lange, his family or agents may have or claim to
have against the Company.
AGREEMENT
NOW, THEREFORE, in consideration of the mutual promises, covenants and other good and valuable
consideration contained herein, it is hereby agreed by and between the Parties hereto as follows:
1. ACCRUED VACATION AND PERSONAL DAYS. The Parties acknowledge and agree that the Company
has paid Mr. Lange concurrently with the signing of this Agreement, all of his accrued vacation and personal days
due and owed him through the Employment Separation Date, and that he has not, and will not, accrue any
additional vacation or personal days after the Employment Separation Date. Mr. Lange acknowledges that he is
not entitled to any payment in respect of sick days.
2. PAYMENTS AND BENEFITS. The Company agrees to provide Mr. Lange with the following as part of this
Agreement:
(a) PAYMENTS. In lieu of any and all other benefits or payments that might be due or payable to Mr. Lange in
connection with the termination of his employme