Document:

EXHIBIT 10.14(b)

    

     

    

    SECOND AMENDMENT TO THE

    MINERALS TECHNOLOGIES INC. SUPPLEMENTAL RETIREMENT PLAN

    (AS AMENDED AND RESTATED EFFECTIVE DECEMBER 31, 2008)

    

    

    WHEREAS, pursuant to Section 7.1
      of the Minerals Technologies Inc. Supplemental Retirement Plan (As Amended and Restated Effective December 31, 2008) (the “Plan”), Minerals Technologies Inc. (the “Company”) reserves the right to amend the Plan by action of its Board of Directors or
      its delegate; and

    

    

    WHEREAS, the Company desires to
      amend the Plan to permit a Participant to elect to receive distribution of his benefit under this Plan in the form of a 5-year or 10-year term certain-only annuity, and now wishes to do so by the following amendment.

    

    

     NOW, THEREFORE, the Plan is hereby amended as follows, effective as of the date hereof:

    

    

    
      
        	1.	
                Article IV of the Plan is hereby amended by deleting it in its entirety and replacing it with the following:

              

      

    

    

    

    “ARTICLE IV

    COMMENCEMENT AND FORM OF BENEFIT PAYMENT

    

    

    
      
        		4.1	
                Distribution of Benefits.  In the case of a Career
                  Earnings Participant, benefits under this Plan shall be paid in a single lump sum upon the later of (i) the Participant’s separation from service with the Company and all Affiliates or (ii) the Participant reaching age 55.  Such lump sum
                  shall be the actuarial equivalent of the annuity determined under Article III, determined applying the interest rate and mortality table then applicable under the Retirement Plan for purposes of determining a lump-sum cash-out with
                  respect to a Participant’s benefit under the Career Earnings Formula.  In the case of a Cash Balance Participant, benefits under this Plan shall be paid in a single lump-sum payment upon the Participant’s separation from service with the
                  Company and its Affiliates.  Such lump sum shall be equal to the amount determined under Article III.

              

      

    

    

    

    Notwithstanding anything in the foregoing to the contrary, a Participant may elect to receive his/her benefits under
      the Plan in the form of a 5-year or 10-year term certain-only annuity, rather than a lump sum payment, in accordance with the procedures and timing set forth in Section 4.5.

    

    

    To the extent a Participant elects to receive his Career Earnings benefit in the form of a 5-year or 10-year term
      certain-only annuity, such annuity form of payment shall be the actuarial equivalent of the annuity determined under Article III, further determined by applying the interest rate and mortality table then applicable under the Retirement Plan for
      purposes of determining the Participant’s benefit payable in an optional annuity form under the Career Earnings Formula.

    

    

    Furthermore, to the extent a Participant elects to receive his Cash Balance benefit in the form of a 5-year or 10-year
      term certain-only annuity, such annuity form of payment shall be determined by applying to the amount determined under Article III above, a factor determined (A) by applying the interest rate and mortality table then applicable under the Retirement
      Plan for purposes of determining the actuarial equivalent of the Cash Balance benefit payable in the form of a single life annuity, and (B) by further applying the interest rate and mortality table then applicable under the Retirement Plan for
      purposes of determining an optional annuity form of the Participant’s Cash Balance benefit under the Plan.

    

    

    If a Participant does not make an affirmative election to receive his Career Earnings benefit and/or his Cash Balance
      benefit in the form of a 5-year or 10-year term certain-only annuity, the Participant shall be deemed to have elected to receive his benefit in a single lump sum as set forth in the first paragraph of this Section 4.1.

    

    

    If a Participant dies before the payment provided for in this Section 4.1 commences, such payment shall be forfeited,
      and shall not be made.  If a Participant dies after a 5-year or 10-year term certain-only annuity has commenced and before payments are completed, the remaining payments shall be made to the Participant’s Beneficiary at the same time such payments
      would otherwise have been made.

    

    

    
      
        		4.2 	Specified
                    Employees.  Notwithstanding anything in this Plan to the contrary, in the case of a Participant who is a “specified employee” within the meaning of Section 409A(a)(2)(B)(i) of the Code and the regulations thereunder, payment
                of benefits under the Plan on account of separation from service shall be made in a lump sum (or such other form as previously elected by the Participant), upon the six-month anniversary of the Participant’s separation from service.  To the
                extent a Participant will receive a lump sum payment, such lump sum shall be adjusted to an amount be equal to the amount determined under Section 4.1 upon the Participant’s separation from service plus interest at the 26-week Treasury Bill
                rate for the six-month period.  The Company may create a grantor trust to pay certain of its obligations hereunder (a so-called “rabbi trust”), the assets of which shall be, for all purposes, the assets of the Company.  In the event the
                trustee of such trust is unable or unwilling to make payments directly to Participants and such trustee remits payments to the Company for delivery to Participants, the Company shall promptly remit such amount, less applicable incomes and
                other taxes required to be withheld, to the Participant.  “Specified employees” shall be determined in accordance with the methodology established by the Board of Directors of the Company or its delegate.

      

    

    
      
        		4.3	
                Additional Benefits Following Disability.  If a
                  Participant is Disabled at the time of his separation from service, the Participant shall receive the following benefits in addition to those described in Article III and Section 4.1.

              

      

    

    

    

    In the case of a Career Earnings Participant, if (i) the Participant is Disabled at the time of his separation from
      service with the Company and its Affiliates, (ii) the Participant continues to be Disabled after age 55 or the Participant separated from service after age 55, and (iii) the Participant did not commence benefits under the Retirement Plan upon
      separation from service, or if later, upon reaching age 55, then, at the later of age 65 or the five year anniversary of the Participant’s separation from service, the Participant shall receive a lump sum payment, unless the Participant previously
      elected to receive payment of the benefit under Section 4.1 in the form of a 5-year or 10-year term certain-only annuity, in which case payment under this Section 4.3 shall also be in the form of a 5-year or 10-year term certain-only annuity, as
      previously elected by the Participant (“Career Earnings Disability Annuity Payment”).  Any such lump sum payment shall be the actuarial equivalent of the annuity determined in the following sentence, calculated applying the interest rate and
      mortality table applicable under the Retirement Plan for purposes of determining a lump-sum cash-out with respect to a Participant’s benefit under the Career Earnings Formula; any Career Earnings Disability Annuity payment, however, shall be the
      actuarial equivalent of the annuity determined in the following sentence, calculated by applying the interest rate and mortality table then applicable under the Retirement Plan for purposes of determining the Participant’s benefit payable in an
      optional annuity form under the Career Earnings Formula.  The annuity shall be equal to the difference, if any, between (i) the amount that would be paid under the Retirement Plan as of the payment date specified in this Section 4.3, (A) determined
      without regard for the limitation on compensation taken into account and/or pension benefits under the Retirement Plan by reason of Sections 401(a)(17) or 415 of the Code and (b) taking into account, in the year of deferral, any income deferred by
      the Participant pursuant to the Minerals Technologies Inc. Supplemental Savings Plan in calculating the Participant’s Earnings under the Retirement Plan, minus the amount that would be paid under the Retirement Plan as of the payment date specified
      in this Section 4.3, and (ii) the single life annuity that was determined under this Plan as of the payment date specified in Section 4.1, actuarially adjusted for commencement as of the payment date specified in this Section 4.3 in a manner
      consistent with the provisions of the Retirement Plan.

    

    

    In the case of a Cash Balance Participant, if a Participant is Disabled at the time of his separation from service
      with the Company and its Affiliates, then, upon the five-year anniversary of the Participant’s separation from service (i.e., the date the Participant’s disability leave began), the Participant shall receive a lump sum payment (unless the Participant
      previously elected to receive payment of the benefit under Section 4.1 in the form of a 5-year or 10-year term certain-only annuity, in which case payment under this Section 4.3 shall also be in the form of a 5-year or 10-year term certain-only
      annuity, as previously elected by the Participant (“Cash Balance Disability Annuity Payment”)).  Any such lump sum payment shall be equal to the difference, if any, between (i) the amount of the Participant’s Cash Balance Account payable under the
      Retirement Plan as of the payment date specified in this Section 4.3 that is attributable to Annual Pay Credits occurring after the Participant’s separation from service (A) determined without regard for the limitation on compensation taken into
      account and/or pension benefits under the Retirement Plan by reason of Sections 401(a)(17) or 415 of the Code and (B) taking into account, in the year of deferral, any income deferred by the Participant pursuant to the Minerals Technologies Inc.
      Supplemental Savings Plan in calculating the Participant’s Earnings under the Retirement Plan and (ii) the amount of the Participant’s Cash Balance Account payable under the Retirement Plan as of the payment date specified in this Section 4.3 that is
      attributable to Annual Pay Credits occurring after the Participant’s separation from service.

    

    

    However, if the benefit is payable as a Cash Balance Disability Annuity Payment, such annuity form of payment shall be
      determined by applying to the amount determined in the immediately preceding paragraph, a factor determined (A) by first applying the interest rate and mortality table then applicable under the Retirement Plan for purposes of determining the
      actuarial equivalent of the Cash Balance benefit payable in the form of a single life annuity, and (B) by further applying the interest rate and mortality table then applicable under the Retirement Plan for purposes of determining an optional annuity
      form of the Participant’s Cash Balance benefit under the Plan.

    

    

    If a Participant dies before the payment provided for in this Section 4.3 commences, such payment shall be forfeited,
      and shall not be made.  If a Participant dies after a Career Earnings Disability Annuity Payment or Cash Balance Disability Annuity Payment has commenced and before payments are completed, the remaining payments shall be made to the Participant’s
      Beneficiary at the same time such payments would otherwise have been made.

    

    

    
      
        		4.4	
                Distribution of Benefits Due to Death.  If a Career
                  Earnings Participant dies before a benefit is paid under Section 4.1, the Participant’s Beneficiary shall receive, upon the Participant’s death, an amount equal to the difference between (i) the amount of the single life annuity pension
                  benefit that would have been payable to a surviving spouse the same age as the Participant (whether or not the Participant actually has a surviving spouse) under the Retirement Plan upon the Participant’s death (A) determined without
                  regard to the limitation on compensation taken into account and/or pension benefits under the Retirement Plan by reason of Sections 401(a)(17) or 415 of the Code and (B) taking into account, in the year of deferral, any income deferred by
                  the Participant pursuant to the Minerals Technologies Inc. Supplemental Savings Plan, and (ii) the amount of the single life annuity pension benefit payable to a surviving spouse the same age as the Participant (whether or not the
                  Participant actually has such a surviving spouse) under the Retirement Plan upon the Participant’s death.  Such amount shall be paid in a single lump-sum payment, unless the Participant elects, in accordance with the procedures and timing
                  set forth in Section 4.5, that payment of any benefit under this Section 4.4 should be made in the form of a 5-year or 10-year term certain-only annuity (“Career Earnings Death Benefit Annuity Payment”).  Any such single lump-sum payment
                  shall be the actuarial equivalent of the annuity determined under the preceding sentences, calculated applying the interest rate and mortality table applicable under the Retirement Plan for purposes of determining a lump-sum cash-out with
                  respect to a Participant’s benefit under the Career Earnings Formula.

              

      

    

    

    

    To the extent that a Career Earnings Participant elected to receive distribution under this Section 4.4 in the form of
      a Career Earnings Death Benefit Annuity Payment, such amount shall be the actuarial equivalent of the annuity determined in the preceding paragraph, further determined by applying the interest rate and mortality table then applicable under the
      Retirement Plan for purposes of determining the Participant’s benefit payable in an optional annuity form under the Career Earnings Formula.

    

    

    If a Cash Balance Participant dies before a benefit is paid under Section 4.1, the Participant’s Beneficiary shall
      receive, upon the Participant’s death, an amount equal to the difference between (i) the amount of the Participant’s Cash Balance Account payable under the Retirement Plan upon the Participant’s death and (ii) the amount of the Participant’s Cash
      Balance Account that would have been payable to the Participant under the Retirement Plan upon the Participant’s death (A) determined without regard to the limitation on compensation taken into account and/or pension benefits under the Retirement
      Plan by reason of Sections 401(a)(17) or 415 of the Code and (B) taking into account, in the year of deferral, any income deferred by the Participant pursuant to the Mineral Technologies Inc. Supplemental Savings Plan in calculating the Participant’s
      Earnings under the Retirement Plan.  Such amount shall be paid in a single lump-sum payment, unless the Participant elects unless the Participant elects, in accordance with the procedures and timing set forth in Section 4.5, that payment of any
      benefit under this Section 4.4 should be made in the form of a 5-year or 10-year term certain-only annuity (“Death Benefit Cash Balance Annuity Payment”).

    

    

    To the extent a Participant elected to receive a benefit under this Section 4.4 in the form of a Death Benefit Cash
      Balance Annuity Payment, such annuity form of payment shall be determined by applying to the amount determined in the immediately preceding paragraph, a factor determined (A) by applying the interest rate and mortality table then applicable under the
      Retirement Plan for purposes of determining the actuarial equivalent of the Cash Balance benefit payable in the form of a single life annuity, and (B) by further applying the interest rate and mortality table then applicable under the Retirement Plan
      for purposes of determining an optional annuity form of the Participant’s Cash Balance benefit under the Plan.

    

    

    If a Beneficiary dies after a Death Benefit Career Earnings Annuity Payment or Death Benefit Cash Balance Annuity
      Payment has commenced and before payments are completed, the remaining payments shall be made to the Beneficiary’s designated beneficiary, if any, or estate at the same time such payments would otherwise have been made.

    

    

    
      
        		4.5	
                Election Procedures and Timing.  Pursuant to Section
                  4.1 and/or Section 4.4, a Career Earnings Participant or a Cash Balance Participant may make an election for payment in the form of a 5-year or 10-year term certain-only annuity.  Any such election must be made in the form and manner
                  specified by the Administrative Committee or its delegate.  Only one such election is permitted for each Participant in the Plan with respect to the benefit payable under Section 4.1, and only one such election is permitted for each
                  Participant in the Plan with respect to the benefit payable under Section 4.4.  Any such election will not be effective until 12 months after the date on which the election is made and must be made at least 12 months before any specified
                  date upon which payments are otherwise scheduled to be made.  Following such election, payment under Sections 4.1 and 4.3 will be deferred by five years from the date on which payment would otherwise have been made.  For the avoidance of
                  doubt, payment will not be deferred by five years in the case of payment upon death pursuant to Section 4.4.  For example, if a Career Earnings Participant elects a 5-year term certain-only annuity and subsequently separates from service
                  at age 60, payment will commence to be made upon the five year anniversary of separation from service.”

              

      

    

    

    

    2. Except as hereinabove amended, the provisions of the Plan shall continue in full force and effect.

    

    

    

    

    [signature page follows]

    
      
        

    

    

    

    

    

    IN WITNESS WHEREOF, the Company, by its duly
      authorized officer, has caused this Amendment to be executed on the 20th day of December, 2019.

    

    

    

    

    MINERALS TECHNOLOGIES INC.

    

    

    By:  /s/ Thomas J. Meek

    Thomas J. Meek

    Senior Vice President and General CounselEXHIBIT 10.16(e)

    

     

    

    FOURTH AMENDMENT TO THE

    MINERALS TECHNOLOGIES INC. SUPPLEMENTAL SAVINGS PLAN

    AS AMENDED AND RESTATED EFFECTIVE DECEMBER 31, 2008

    

    

    

    

    WHEREAS, pursuant to Section 15 of the Minerals
      Technologies Inc. Supplemental Savings Plan, as Amended and Restated Effective December 31, 2008 (the “Plan”), Minerals Technologies Inc. (the “Company”) reserves the right to amend the Plan by actions of its Board of Directors or its delegate and
      now wishes to do so by the following amendment

    

    

    NOW, THEREFORE, the Plan is amended as follows,
      effective as of the date hereof:

    

    

    
      
        	1.	
                Section 5 of the Plan is hereby amended by deleting it in its entirety and replacing it with the following:

              

      

    

    

    

    “SECTION 5.
        ADDITIONAL DEFERRALS

    

    

    In addition to the deferrals provided for in Section 4, a Participant may elect to defer from one percent (1%) to one
      hundred percent (100%) of his or her Bonus Compensation for a Plan Year by filing an election with the Administrator pursuant to Section 6.  No matching contributions shall be credited with respect to deferrals under this Section 5.”

    

    

    
      
        	2.	
                Section 8 of the Plan is hereby amended by deleting it in its entirety and replacing it with the following:

              

      

    

    

    

    “SECTION 8. INVESTMENT
        OF ACCOUNTS

    

    

    Each Participant’s account shall be deemed invested in the hypothetical investment options (designated by the
      Administrator as available under the Plan) as the Participant may elect, from time to time, in accordance with such rules and procedures as the Administrator may establish. The Administrator may designate more than one investment option for different
      types of deferrals, or the Administrator may mandate a particular investment option for a type of deferral. Pursuant to procedures established by the Administrator, each Participant’s account shall be adjusted as of each business day the New York
      Stock Exchange is open to reflect the earnings or losses of such investment options. To the extent a Participant’s account is treated as invested in Company stock, any cash dividends declared on Company stock shall be treated as reinvested in
      additional shares of Company stock. No provision of the Plan shall require the Company to actually invest any amounts in any fund or in any other investment vehicle.”

    

    

    
      
        	3.	
                Section 10 of the Plan is hereby amended by deleting it in its entirety and replacing it with the following:

              

      

    

    

    

    “SECTION 10.  TIME AND MANNER OF DISTRIBUTION

    

    

    Effective for Plan Years beginning as of January 1, 2020, distribution of a Participant’s account related to amounts contributed to the
      Plan on and after January 1, 2020 (i.e., “Post-2019 Contributions”), shall be made within ninety (90) days following the Participant’s separation from service with the Employer (within the meaning of Section 409A of the Code), in either of the
      following modes of distribution, as elected by the Participant as of the later of his first annual enrollment for Plan Years beginning on or after January 1, 2020, or his initial deferral election upon becoming eligible to participate in the Plan
      after January 1, 2020:

    

    

    (a) a single lump sum payment; or

    

    

    
      
        		(b)	
                annual installments over a period of up to ten (10) years, the amount of each installment to equal the balance of the Participant’s vested account immediately prior
                  to the installment divided by the number of installments remaining to be paid.

              

      

    

    

    

    However, if the Company is subject to the provisions of Section 409A(a)(2)(B)(i) of the Code, and if distribution is to be made or
      commence as a result of the Participant’s separation from service with the Employer, and if the Participant is a “specified employee” of the Employer (as defined under said Section 409A(a)(2)(B)(i)), then, distribution of any Post-2019 Contributions
      and related earnings shall be made or commence not earlier than the six (6) month anniversary of the date of such Participant’s separation from service with the Employer.  “Specified employees” shall be identified using the methodology set forth in
      writing by the Company’s Vice-President, Organization and Human Resources or any successor to such role, which methodology shall be considered a part of this Plan.

    

    

    With respect to amounts deferred to the Plan prior to January 1, 2020 (“Pre-2020 Contributions”), distribution of a Participant’s
      account shall normally be made, in the form of a lump-sum payment, within ninety (90) days following the Participant’s separation from service with the Employer (within the meaning of Section 409A of the Code).  Pre-2020 Contributions include Company
      matching contributions attributable to 2019 and any bonuses earned in 2019. However, if the Company is subject to the provisions of Section 409A(a)(2)(B)(i) of the Code, and if the Participant is a “specified employee” of the Employer (as defined
      under said Section 409A(a)(2)(B)(i)), distribution shall be made in the seventh (7th) month following the month in which the separation from service occurs.  “Specified employees” shall be identified using the methodology set forth in writing by the
      Company’s Vice-President, Organization and Human Resources or any successor to such role, which methodology shall be considered a part of this Plan.

    

    

    However, with respect to any such Pre-2020 Contributions, a Participant may make a one-time election prior to December
      31, 2019, in accordance with procedures established by the Plan Administrator, to change the mode of his or her distribution following separation from service, from a lump sum payment to annual installments over a period of up to ten (10) years,
      subject to the following conditions:  (i) any such election may not take effect until twelve (12) months after the date on which the election is made; and (ii) payment with respect to such election must be deferred for a period of five (5) years from
      the date on which payment would otherwise have been made or have commenced.

    

    

    Any distribution under this Plan shall be made in the form of cash and shall be subject to federal, state and/or local
      tax withholding and any social security withholding tax as may be required by law.”

    

    

    3. Except as hereinabove amended, the provisions of the Plan shall continue in full force and effect.

    

    

    
      
        

    

    

    

    

    

    IN WITNESS WHEREOF, the Company, by its duly
      authorized officer, has caused this Amendment to be executed on the 20th day of December, 2019.

    

    

    

    

    MINERALS TECHNOLOGIES INC.

    

    

    

    

    

    

    By:  /s/ Thomas J. Meek

    Thomas J. Meek

    Senior Vice President and General Counsel

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