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                                                                    Exhibit 10.1

                           Executive Performance Plan
                                       of
                       The Goodyear Tire & Rubber Company

                            Effective January 1, 2004

I.    PURPOSE

      This Executive Performance Plan of The Goodyear Tire & Rubber Company (the
      "Plan") is intended to (i) advance the interests of the Company and its
      shareholders by strengthening the Company's ability to attract, retain and
      reward key personnel and (ii) motivate key personnel to achieve business
      objectives established to promote the Company's long term growth,
      profitability and success.

II.   DEFINITIONS

      For purposes of this Plan, each of the following terms has the indicated
      meaning:

      "Committee" means the Compensation Committee of the Company's Board of
      Directors.

      "Company" means The Goodyear Tire & Rubber Company, its subsidiaries and
      affiliates.

      "Grant" means the number of Units granted by the Committee to a
      Participant.

      "Grant Agreement" means any agreement or other instrument making a Grant
      and setting forth the Performance Goals, Performance Measures and
      Performance Period related to the Grant and such other terms deemed
      necessary or appropriate by the Committee.

      "Participant" means any salaried employee of the Company selected by the
      Committee to receive a Grant under this Plan.

      "Performance Award" means the number of Units included in a Grant
      multiplied by the related Unit Value.

      "Performance Goals" means one or more targets, goals or levels of
      attainment required to be achieved in terms of the specified Performance
      Measures during the specified Performance Period, all as determined by the
      Committee and set forth in the related Grant Agreement.

      "Performance Measures" means one or more of the criteria used by the
      Committee to establish and measure attainment of Performance Goals for a
      Performance Period.

      "Performance Period" means one or more periods of time, which may be of
      varying and overlapping duration, as selected by the Committee, during
      which attainment of Performance Goals is measured' provided, however, that
      no Performance Period may be less than one year in duration.

      "Plan" means this Executive Performance Plan of the Company, as then
      amended at any time.

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      "Unit" means one multiple of Unit Value.

      "Unit Value" means the amount of the cash value of each Unit granted to a
      Participant; Unit Value may vary by Grant or Participant and is based upon
      attainment of Performance Goals.

III.  THE COMMITTEE

      A)    The Plan will be administered by the Committee. No member of the
            Committee will participate in this Plan. The Committee may take any
            action permitted by this Plan at any meeting at which a quorum is
            present and which is held upon not less than five days' notice to
            each member of the meeting's time, place and purpose. A majority of
            the members of the Committee will constitute a quorum, and any act
            of a majority of the members present at any meeting at which a
            quorum is present will be the act of the Committee. Any one or more
            members of the Committee may participate in a meeting by conference
            telephone or similar means by which each participant can hear and
            speak to each other participant. Participation by any such means
            will constitute presence in person at the meeting. The Committee may
            take any permitted action by written consent of a majority of its
            members, and such action will be as effective as if the action had
            been taken by unanimous vote at a meeting duly called and held. The
            minutes of each meeting (signed by the Committee's secretary)
            evidencing any permitted action, will constitute authority for the
            Company to act in accordance therewith. The Company will make Grants
            in accordance with the terms and conditions specified by the
            Committee, as set forth in the related Grant Agreement.

      B)    The Committee has full power and authority to administer this Plan
            in accordance with its terms, including, but not limited to, the
            power to: (i) select Participants; (ii) make Grants; (iii) determine
            Unit Value; (iv) establish Performance Goals, Performance Measures
            and Performance Periods; (v) change the terms of any Grant
            previously made; (vi) guarantee a minimum Unit Value; (vii)
            prescribe the terms of any Grant Agreement; (viii) interpret this
            Plan and make any determination of fact incident to the operation of
            this Plan; (ix) terminate or amend this Plan without stockholder
            approval, unless such approval is then required by applicable law or
            rule, including without limitation any amendment necessary or
            appropriate to comply with the laws of other countries; (x) delegate
            to other persons the responsibility for performing administrative or
            ministerial acts pursuant to this Plan; (xi) engage the services of
            persons and firms, including without limitation banks, legal
            advisors, consultants and insurance companies, in connection with
            the administration and interpretation of this Plan and (xii) make
            all other determinations and take all other actions as the Committee
            may deem necessary or advisable for the administration of this Plan.

      C)    Any determination, decision or action of the Committee in connection
            with the construction, interpretation, administration or application
            of this Plan, or of any Grant Agreement, shall be final, conclusive
            and binding upon a Participant and any person claiming through the
            Participant.

IV.   ELIGIBILITY AND TERMS

      The Committee will select Participants in its sole discretion, subject to
      the terms of this Plan. At the time each Grant is made, the Committee will
      establish and set forth in a Grant Agreement the amount of the Grant and
      the related Performance Measures, Performance Goals and

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      Performance Period. At the end of any Performance Period, the Committee
      will calculate each Performance Award and advise the Company of the amount
      of cash payment to be made to each Participant.

V.    PERFORMANCE GOALS, PERFORMANCE MEASURES AND PERFORMANCE PERIODS

      Each Grant Agreement will provide that, in order for a Participant to
      receive a Performance Award, the Company must achieve specified
      Performance Goals over the Performance Period, with attainment of
      Performance Goals determined using specific Performance Measures.
      Performance Goals and the Performance Period will be established by the
      Committee in its sole discretion. The Committee also will establish
      Performance Measures for each Performance Period. The Committee may, in
      its sole discretion, revise or amend Performance Goals or Performance
      Measures at any time prior to distribution of a Performance Award for any
      Grant. The Committee may, in its sole discretion, guarantee, eliminate or
      reduce the amount of any Performance Award that otherwise would be payable
      to a Participant upon attainment of the Performance Goals.

VI.   FORM OF GRANTS

      Grants may be made on any terms and conditions not inconsistent with this
      Plan, and the related Grant Agreement may be in such form, as the
      Committee, in its sole discretion, may approve. Subject to the terms of
      this Plan, the Committee will, in its sole discretion, determine the
      number of Units included in each Grant, and the Committee may impose
      different terms and conditions on any particular Grant. The Performance
      Goals, Performance Measures and Performance Period applicable to any Grant
      shall be set forth in the related Grant Agreement.

VII.  PAYMENT OF AWARDS

      Payment in settlement of a Performance Award will be made in cash and at
      such time or times as the Committee, in its sole discretion, shall
      determine.

VIII. DEFERRAL OF PAYMENT

      The Committee may, whether at the time of Grant or at anytime thereafter
      that is prior to payment or settlement, require a Participant to defer, or
      permit (subject to such conditions as the Committee may from time to time
      establish) a Participant to elect to defer, receipt of all or any portion
      of any payment of cash that would otherwise be due to such Participant in
      payment or settlement of any Performance Award. If any such deferral is
      required by the Committee (or is elected by the Participant with the
      permission of the Committee), the Committee shall establish rules and
      procedures for such payment deferrals.

IX.   MISCELLANEOUS

      A)    Withholding Taxes. Each Performance Award\ will be made subject to
            any applicable withholding for taxes. The Company may deduct from
            any Performance Award any and all federal, state, city, local or
            foreign taxes of any kind required by law to be withheld with
            respect to such payment and to take such other actions as may be
            necessary in the opinion of the Company to satisfy all obligations
            for the payment of such taxes.

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      B)    No Right to Employment. Neither the adoption of this Plan nor the
            making of any Grant will confer upon any employee any right to
            continued employment with the Company, nor interfere in any way with
            the right of the Company to terminate the employment of any employee
            at any time, with or without cause, subject to the terms of any
            employment agreement or provision of applicable law.

      C)    Non-Transferability of Grants. No Grant, and no right or interest
            therein, shall (i) be assignable, alienable or transferable by any
            Participant, except by will or the laws of descent and distribution
            or (ii) be subject to any obligation, or the lien or claims of any
            creditor, of any Participant or (iii) be subject to any lien,
            encumbrance or claim of any person made in respect of or through any
            Participant, however arising

      D)    Unfunded Plan. The Plan will be unfunded, and the Company shall not
            be required to segregate any assets that may at any time be
            represented by Grants or Performance Awards. Any liability of the
            Company to any person with respect to any Performance Award will be
            based solely upon any contractual obligation effected pursuant to
            this Plan. No such obligation of the Company shall be deemed to be
            secured by any pledge of, or other encumbrance on, any property of
            the Company.

      E)    Change in Control. Nothing in this Plan shall prevent or interfere
            with any recapitalization or reorganization of the Company or its
            merger or consolidation with any other corporation. In any such
            case, the recapitalized, reorganized, merged or consolidated company
            shall assume the obligations of the Company under this Plan or such
            modification hereof as, in the judgment of the Board of Directors,
            shall be necessary to adapt it to the changed situation and shall
            provide substantially equivalent benefits to each Participant.

      F)    Engaging in Competition with Company. If a Participant terminates
            his or her employment with the Company for any reason whatsoever,
            and within eighteen (18) months after the date thereof accepts
            employment with any competitor of, or otherwise engages in
            competition with, the Company, the Committee, in its sole
            discretion, may require such Participant to return, or (if not
            received) to forfeit, to the Company the dollar amount of any
            Performance Award to which the Participant otherwise would be
            entitled with respect to the period to date commencing with the date
            that is six months prior to the date of the Participant's
            termination of employment with the Company or during such other
            period as the Committee may determine.

      G)    Other Company Benefit and Compensation Programs. Payment of a
            Performance Award will not be deemed part of a Participant's
            regular, recurring compensation for purposes of any termination
            indemnity or severance pay law of any country and will not be
            included in, nor have any effect on, the determination of benefits
            under any pension or other employee benefit plan or similar
            arrangement provided by the Company, unless (i) expressly so
            provided by such other plan or arrangement or (ii) the Committee
            expressly determines that all or part of the Performance Award
            should be included as recurring compensation. No provision of this
            Plan may be deemed to prohibit the Company from establishing other
            special awards, incentive compensation plans, compensation programs
            and other similar arrangements providing for the payment of
            performance, incentive or other compensation to employees. Payments
            and benefits provided to any employee under any other plan,
            including, without limitation, any stock option, stock award,
            restricted stock, deferred compensation, savings, retirement or
            other benefit plan or arrangement, will be governed solely by the
            terms of such other plan.

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      H)    Grant Agreement. As a condition to receiving a Grant, a Participant
            shall enter into a Grant Agreement with the Company in a form
            specified by the Committee, agreeing to the terms and conditions of
            the Grant and such related matters as the Committee shall, in its
            sole discretion, determine.

      I)    Severability. If any provision of this Plan shall be held to be
            invalid or unenforceable for any reason, such invalidity or
            unenforceability shall not affect the remaining provisions of this
            Plan.

      J)    Governing Law. The Plan shall be governed by and construed in
            accordance with the laws of the State of Ohio.

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