Document:

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                                                                    EXHIBIT 10.2

                              PPG INDUSTRIES, INC.

                           DEFERRED COMPENSATION PLAN
                          As amended February 21, 2002
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                                    Preamble

In accordance with the Resolution adopted by the Officers-Directors Compensation
Committee of the Board of Directors of PPG Industries, Inc. on July 19, 2000,
the PPG Industries Inc. Deferred Compensation Plan is hereby amended and
restated to be effective October 1, 2000.

The Plan is adopted primarily for the purpose of providing deferred compensation
to a select group of management and highly compensated employees.
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                                Table of Contents
                                -----------------

Section    I  .......................... Definitions

Section   II  .......................... Deferrals

Section  III  .......................... Investment Options

Section   IV  .......................... Savings Plan Restoration  Contributions

Section    V  .......................... Withdrawal Provisions

Section   VI  .......................... Specific Provisions Related to Benefits

Section  VII  .......................... Administration and Claims

Section VIII  .......................... Amendment and Termination

Section   IX  .......................... Miscellaneous

Section    X  .......................... Change in Control
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                            SECTION I - DEFINITIONS
                            -----------------------

1.01   Account means all amounts transferred from the Prior Plan, deferred Award
       amounts, all deferred Salary amounts, all deferred TSR Plan or Long-Term
       Plan Payments and all Restoration Contributions and earnings on each in a
       Participant's account at any particular time.

1.02   Administrator means an officer or officers of the Company appointed by
       the Committee, and any person(s) designated by such Administrator to
       assist in the administration of the Plan.

1.03   Affiliate means any business entity, other than a Subsidiary Corporation,
       in which PPG has an equity interest.

1.04   Annual Plan means the PPG Industries, Inc. Executive Officers' Annual
       Incentive Compensation Plan.

1.05   Award means a grant to a Participant under either the IC Plan, the Annual
       Plan or MAP which such person may elect to defer. Awards to Participants
       may be made in the form of cash ("cash component"), shares of PPG stock
       ("stock component"), or a combination of both.

1.06   Beneficiary means the person or persons designated by a Participant to
       receive benefits hereunder following the Participant's death, in
       accordance with Section 6.02. For purposes of this Section 1.06, "person
       or persons" is limited to an individual, a Trustee or a Participant's
       estate.

1.07   Board means the Board of Directors of PPG Industries, Inc.

1.08   Code means the Internal Revenue Code of 1986, and amendments thereto.

1.09   Committee means the Officers-Directors Compensation Committee (or any
       successor) of the Board.

1.10   Company or PPG means PPG Industries, Inc.

1.11   Conversion Formula means dividing an amount by the average of the closing
       sale prices for PPG Stock reported on the New York Stock Exchange-
       Composite Tape for all days in the month of January during which the New
       York Stock Exchange is open during the year following the Plan Year to
       which the Award relates.

1.12   Corporation means PPG and any Subsidiary Corporation and any Affiliate
       designated by the Administrator as eligible to participate in the Plan,
       and which,

                                   -Page 1.1-
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       by proper authorization of the Board of Directors or other governing body
       of such Subsidiary Corporation or Affiliate, elects to participate in the
       Plan.

1.13   Disability means any long-term disability. The Administrator, in his
       complete and sole discretion, shall determine a Participant's Disability;
       provided, however, that a Participant who is approved to receive Long-
       Term Disability benefits pursuant to the PPG Industries, Inc. Long-Term
       Disability Plan shall be considered to have a Disability. The
       Administrator may require that a Participant submit to an examination
       from time to time, but no more often than annually, at the expense of the
       Company, by a competent physician or medical clinic, selected by the
       Administrator, to confirm Disability. On the basis of such medical
       evidence, the determination of the Administrator as to whether or not a
       condition of Disability exists or continues shall be conclusive.

1.14   Discretionary Transaction means a transaction pursuant to any employee
       benefit plan of the Company that:

       (a)  Is at the volition of the plan participant;

       (b)  Is not made in connection with the participant's death, disability,
            retirement or termination of employment;

       (c)  Is not required to be made available to a plan participant pursuant
            to a provision of the Code; and

       (d)  Results in either an intra-plan transfer involving a PPG Stock Fund
            or a cash distribution funded by a volitional disposition of PPG
            Common Stock by the plan participant.

1.15   Employee means any full-time or permanent part-time salaried employee
       (including any officer) of the Corporation.

1.16   ERISA means the Employee Retirement Income Security Act of 1974, as
       amended.

1.17   Financial Hardship means an unexpected need for cash arising from an
       illness, casualty loss, sudden financial reversal, or other such
       unforeseeable occurrence, as determined by the Administrator, in his
       complete and sole discretion.

1.18   Former Participant means a Participant who becomes ineligible to receive
       an Award but who continues to have an Account hereunder.

1.19   IC Plan means the PPG Industries, Inc. Incentive Compensation and
       Deferred Income Plan for Key Employees.

                                  -Page 1.2-
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1.20   Insider means a Participant who at any time within the prior six (6)
       months was a person subject to Section 16 of the Securities Act of 1934.

1.21   Investment Account means any one of the following:

       Fidelity Growth Company Fund Account:  A recordkeeping account, the value
       ------------------------------------
       of which is based on the Fidelity Growth Company Fund.

       Fidelity Contrafund Account:  A recordkeeping account, the value of which
       ---------------------------
       is based on the Fidelity Contrafund.

       Fidelity Spartan U.S. Equity Index Fund Account:  A recordkeeping
       -----------------------------------------------
       account, the value of which is based on the Fidelity Spartan U.S. Equity
       Index Fund.

       Fidelity Growth and Income Portfolio Account:  A recordkeeping account,
       --------------------------------------------
       the value of which is based on the Fidelity Growth and Income Portfolio.

       Fidelity Intermediate Bond Fund Account:   A recordkeeping account, the
       ---------------------------------------
       value of which is based on the Fidelity Intermediate Bond Fund.

       Fidelity Institutional MM Portfolio - Class 1 Account:  A recordkeeping
       -----------------------------------------------------
       account, the value of which is based on the Fidelity Institutional MM
       Portfolio Class 1.

1.22   Investment Account Share means a recordkeeping unit for the appropriate
       Investment Account, in each case, equivalent to one share of the mutual
       fund on which the value of the particular Investment Account is based.

1.23   Long-Term Plan means the PPG Industries, Inc. Executive Officers' Total
       Shareholder Return Plan.

1.24   MAP means the PPG Industries, Inc. Management Award and Deferred Income
       Plan.

1.25   Participant means an Employee approved to participate in either the TSR
       Plan, the Long-Term Plan, the IC Plan, the Annual Plan or MAP.  As used
       herein, "Participants" may be used collectively to include Retired
       Participants, Terminated Participants and Former Participants.

1.26   Plan means the PPG Industries, Inc. Deferred Compensation Plan as amended
       and restated, effective October 1, 2000.

1.27   Plan Year means the calendar year.

                                  -Page 1.3-
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1.28   PPG Stock means Common Stock of the Company.  Shares of PPG Stock issued
       under the Plan may be either authorized but unissued shares or issued
       shares acquired by the Company and held in its treasury.

1.29   PPG Stock Account means a record-keeping account maintained for a
       Participant who elects to defer all or part of an Award/Salary and/or to
       maintain all or part of a deferred Award/Salary in the form of Stock
       Account Shares.

1.30   PPG Stock Fund means the PPG Stock Account or any other fund or account
       of any other benefit plan of the Company or a Subsidiary which account or
       fund is invested in, or valued based upon, PPG Common Stock and which
       fund or account is an alternative to other funds or accounts made
       available to plan participants which funds or accounts are not invested
       in, or valued based upon PPG Common Stock.

1.31   Prior Plan means the PPG Industries, Inc. Deferred Compensation Plan, as
       in effect through September 30, 2000.

1.32   Prohibited Discretionary Transaction means a Discretionary Transaction to
       be effected pursuant to an election made less than six months following
       the date of the most recent previous election to make a Discretionary
       Transaction with respect to any employee benefit plan of the Company
       which most recent previous election effected:

       (a)  An increase in a PPG Stock Fund if the current transaction would
            entail a disposition of PPG Stock or a decrease in a PPG Stock Fund;
            or

       (b)  A disposition of PPG Stock or a decrease in a PPG Stock Fund if the
            current transaction would entail an increase in a PPG Stock Fund.

1.33   Restoration Contributions means contributions to a Participant's Account
       in accordance with Section IV.

1.34   Retired Participant means a Participant who elects to maintain an Account
       in the Plan after his/her Retirement Date.

1.35   Retirement Date means the first day of the month following a
       Participant's termination of employment, provided such Participant is
       eligible to receive a benefit from a retirement plan sponsored by the
       Corporation on such date.

1.36   Salary means a Participant's monthly base salary from the Corporation
       (excluding bonuses, commissions and other non-regular forms of
       compensation) and including payments from the PPG Industries Salary
       Continuance Plan, before reductions for deferrals under the Plan or under
       any other Plan sponsored by the

                                  -Page 1.4-
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       Corporation. In the case of Salary Continuance, Salary deferral elections
       shall be applied to the actual amount of Salary Continuance being paid.

1.37   Savings Plan means the PPG Industries Employee Savings Plan, as amended
       from time to time.

1.38   Savings Plan Election means the sum of the percentage the Participant is
       contributing to the Savings Plan as Savings and as Elective Deferrals not
       to exceed the percentage eligible for the Company match in the Savings
       Plan.

1.39   Savings Plan Matching Percentage means the percentage of the Company's
       Matching Contributions for a Plan Year in the Savings Plan.

1.40   Stock Account Share means a record-keeping unit which is equivalent to
       one share of PPG Stock.

1.41   Subsidiary means any corporation of which fifty percent (50%) or more of
       the outstanding voting stock or voting power is owned, directly or
       indirectly, by the Company and any partnership or other entity in which
       the Company has a fifty percent (50%) or more ownership interest.

1.42   Terminated Participant means a Participant who maintains an Account in
       the Plan following his/her termination of employment from the
       Corporation.

1.43   Transferred Interest Account means a separate Interest Account,
       transferred from the Prior Plan, for any amount which the Participant had
       transferred from his/her CEA-2 account.

1.44   TSR Plan means the PPG Industries, Inc. Total Shareholder Return Plan for
       Key Employees. The following words shall have the meaning set forth in
       the TSR Plan:
             Dividend Equivalent
             Payment
             TSR Shares

1.45   Unscheduled Withdrawal means a distribution of all or a portion of a
       Participant's Investment Accounts and/or PPG Stock Account requested by a
       Participant, or a Beneficiary, if the Participant is deceased, in
       accordance with Section 5.07.

                                  -Page 1.5-
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                             SECTION II - DEFERRALS
                             ----------------------

2.01 Deferral of Award
     -----------------

     (a)  In accordance with the provisions of either the IC Plan, the Annual
          Plan or MAP, whichever is applicable, the value of that portion of the
          cash component of a deferred Award which the Participant has
          designated to one or more of the Investment Accounts in accordance
          with Section 3.01 shall be credited to such Investment Account(s) on
          the day such deferral would otherwise have been paid to the
          Participant.

     (b)  In accordance with the provisions of either the IC Plan, the Annual
          Plan or MAP, whichever is applicable, the value of:

          (1)  that portion of the cash component of a deferred Award which the
               Participant has designated in accordance with Section 3.01 to the
               PPG Stock Account; and/or

          (2)  the value of the stock component of a deferred Award

          shall be credited to the PPG Stock Account in the Participant's
          Account on the day such deferral would otherwise have been paid to the
          Participant.

     (c)  (1)  Share Awards credited to the PPG Stock Account shall be credited
               in the form of Stock Account Shares and cash Awards credited to
               the PPG Stock Account shall be credited in the form of whole and
               fractional Stock Account Shares, the number of which will be
               determined according to the Conversion Formula.

          (2)  Cash Awards credited to the Investment Account(s) shall be
               credited in the form of Investment Account Shares, the number of
               which will be determined according to the most recent closing
               market value of the appropriate Investment Account Shares.

     (d)  Any amount designated by the Participant for in-service withdrawal in
          accordance with either the IC Plan, the Annual Plan or MAP may not be
          credited to the PPG Stock Fund.

2.02 Deferral of Salary
     ------------------

     (a)  Prior to the beginning of each quarter, a Participant may elect to
          defer a percentage, in whole percentages only, of his/her Salary as
          follows:

                                  -Page 2.1-
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                     Minimum Deferral  Maximum Deferral
                     ----------------  ----------------

                             1%              50%

     (b)  Elections made pursuant to this Section 2.02 shall remain in effect
          until the earlier of:

          (1)  The first day of the quarter following the quarter the
               Participant rescinds or modifies the election; or

          (2)  The first day of the Plan Year following the Plan Year in which
               the Participant becomes a Former Participant.

     (c)  Any election filed by a Participant pursuant to this Section 2.02 must
          be received by the Administrator on or before the last business day of
          the quarter prior to the quarter in which such election is to become
          effective.  Deferred Salary shall be credited to the Participant's
          Account on the first day of the month following the month in which the
          deferral is made.

     (d)  A Participant is ineligible to defer or continue to have deferred any
          Salary percentage during a quarter in which the Participant's salary
          is subject to a garnishment, tax lien, child support or any similar
          attachment to Salary.

     (e)  A Participant who becomes ineligible for Salary deferral, in
          accordance with Paragraph (d) above, may thereafter resume Salary
          deferral upon the discontinuance of the attachment to the Salary and
          in accordance with the Salary election provisions of this Section
          2.02.

     (f)  The number of Stock Account Shares credited to the PPG Stock Account
          shall be determined by the closing price for PPG Stock on the last
          business day of the month in which the deferral is made.

     (g)  The number of Investment Account Shares credited to the appropriate
          Investment Account shall be determined by the closing market price for
          shares of the mutual fund on which the value of the  Investment
          Account is based on the last business day of the month in which the
          deferral is made.

2.03 Deferral of Payment under the TSR Plan or the Long-Term Plan
     ------------------------------------------------------------

     (a)  In accordance with the provisions of the TSR Plan or the Long-Term
          Plan, the portion of a Payment which a Participant has elected to
          defer shall be credited to the PPG Stock Account in the Participant's
          Account on the day such Payment would otherwise have been paid to the
          Participant.

                                  -Page 2.2-
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     (b)  The portion of a Payment deferred by the Participant under the TSR
          Plan or the Long-Term Plan, as determined in TSR Shares, shall be
          credited to the PPG Stock Account in the form of Stock Account Shares.

     (c)  Dividend Equivalents under the TSR Plan or the Long-Term Plan
          -------------------------------------------------------------

          (1)  Dividend Equivalents payable in accordance with the TSR Plan or
               the Long-Term Plan shall be paid into the PPG Stock Account.

          (2)  The number of Stock Account Shares credited to the PPG Stock
               Account due to Dividend Equivalents paid from the TSR Plan or the
               Long-Term Plan shall be determined on the basis of the closing
               sale price of PPG Stock reported on the Composite Tape for the
               day on which a dividend is paid on PPG Stock.

                                  -Page 2.3-
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                        SECTION III - INVESTMENT OPTIONS
                        --------------------------------

3.01 Investment Election
     -------------------

     (a)  Participants must file an election with the Administrator designating
          the investment election for any cash amounts being deferred into the
          Plan.

     (b)  Any election filed by a Participant shall remain in effect for all
          cash amounts deferred to the Plan unless and until the Participant
          files a new election with the Administrator.

     (c)  Elections filed in accordance with this Section 3.01 must be filed in
          accordance with the procedure established by the Administrator.

3.02 Investment Accounts
     -------------------

     Amounts credited to the Investment Accounts shall be credited in the form
     of whole and fractional Investment Account Shares.

3.03 PPG Stock Account
     -----------------

     (a)  Amounts credited to the PPG Stock Account shall be credited in the
          form of whole and fractional Stock Account Shares.

     (b)  Participants shall not receive cash dividends or have voting or other
          shareholders' rights as to Stock Account Shares; however, Stock
          Account Shares shall accrue whole and fractional dividend equivalents,
          in the form of additional Stock Account Shares, on the basis of the
          closing sale price for PPG Stock, reported on the Composite Tape for
          the day on which a dividend is paid, based on the number of whole
          Stock Account Shares in the PPG Stock Account on the record date.

3.04 Transfers from the Prior Plan
     -----------------------------

     (a)  Any amounts in a Participant's account on September 30, 2000, shall be
          transferred to his/her Account effective October 1, 2000, in
          accordance with the election filed by the Participant in accordance
          with Section 3.01.

     (b)  In the event a Participant has not filed a valid election in
          accordance with Section 3.01, amounts credited to the Participant's
          PPG Stock account in the Prior Plan shall be transferred to the PPG
          Stock Account; and amounts credited to the Participant's interest
          account in the Prior Plan shall be transferred to the Fidelity
          Institutional MM Portfolio - Class 1 Account.

                                  -Page 3.1-
<PAGE>

     (c)  Any amounts in the Participant's PPG Stock Account in the Prior Plan
          which the participant has designated for withdrawal in accordance with
          the provisions of Section XI of the Prior Plan, including any amounts
          representing dividend equivalents, accrued in accordance with Section
          3.03(b), shall be distributed to the Participant on April 1, 2001.

     (d)  Any amount credited to a Participant's transferred interest account in
          the Prior Plan, shall be transferred to the Transferred Interest
          Account notwithstanding any election filed by the Participant.

3.05 Transfers
     ---------

     (a)  Subject to paragraph (b) below, a Participant who has a balance in the
          Investment Accounts may elect to transfer any amounts between/among
          the Investment Accounts or into the PPG Stock Account.  Such transfers
          shall be subject to the following:

          (1) Participants must file a transfer request with the Administrator
              in accordance with the procedure established by the Administrator.

          (2)  (A)  For transfers into the PPG Stock Account, the number and
                    value of whole and fractional Stock Account Shares shall be
                    determined by the closing price of PPG Stock on the last
                    business day of the month in which the election is received
                    by the Administrator.

               (B)  For transfers into and out of any of the Investment
                    Accounts, the number and value of whole and fractional
                    Investment Account Shares shall be determined by the closing
                    price of the appropriate Investment Account Share on the
                    last business day of the month in which the election is
                    received by the Administrator.

          (3) No transfers may be made out of the PPG Stock Account at any time.

          (4) No transfers may be made out of the Transferred Interest Account
              at any time.

     (b)  Insiders are prohibited from making any transfer which would
          constitute a Prohibited Discretionary Transaction.

                                  -Page 3.2-
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              SECTION IV - SAVINGS PLAN RESTORATION CONTRIBUTIONS
              ---------------------------------------------------

4.01 Restoration Contributions
     -------------------------

     Participants who are currently contributing to the Savings Plan may be
     eligible to receive Restoration Contributions as follows:

     (a)  For Participants whose Salary exceeds the amount specified in
          (S)401(a)(17) of the Code, Restoration Contributions shall equal the
          sum of (1) and (2) below:

          (1)  Lesser of:

               Excess Salary times Savings Plan Election times Savings Plan
               Matching Percentage; or

               Amount of monthly deferred Salary.

          (2)  If the difference between the Participant's Salary deferral and
               Excess Salary ("Difference") is greater than zero:

               Difference times Savings Plan Election times Savings Plan
               Matching Percentage.

     (b)  For a Participant whose Salary equals or is less than the amount
          specified in (S)401(a)(17) of the Code and such Participant elects to
          defer Salary in accordance with Section 2.02, Restoration
          Contributions shall equal the amount of the deferred Salary times the
          Participant's Savings Plan Election times the Savings Plan Matching
          Percentage.

     (c)  For purposes of this Section 4.01 Excess Salary means Salary minus the
          amount specified in (S)401(a)(17) of the Code divided by 12.

4.02 Savings Plan Restoration Account
     --------------------------------

     Restoration Contributions shall be credited monthly to the Participant's
     PPG Stock Account in the form of Stock Account Shares.  The number of whole
     and fractional Stock Account Shares shall be determined by using the
     closing price for PPG Stock on the last business day of the month in which
     such Restoration Contributions are made, and shall be credited to the
     Participant's Account on such day.

                                  -Page 4.1-
<PAGE>

4.03 Vesting
     -------

     Restoration Contributions shall be 100% vested at the time such Restoration
     Contributions are credited to a Participant's Account.

4.04 Transfers
     ---------

     Restoration Contributions may not be transferred from the PPG Stock
     Account.

                                  -Page 4.2-
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                       SECTION V - WITHDRAWAL PROVISIONS
                       ---------------------------------

5.01 Scheduled In-Service Withdrawals
     --------------------------------

     Except as otherwise provided in this Section V, payment of any amount
     designated by a Participant for in-service withdrawal, in accordance with
     provisions of either the IC Plan, the Annual Plan or MAP, whichever is
     applicable, shall be made to the Participant in a lump sum as of the first
     day of the quarter/year specified by the Participant.

5.02 Withdrawals at/after a Participant's Retirement Date
     ----------------------------------------------------

     (a)  A Participant may elect a payment schedule applicable to his/her
          Account provided such election is filed with the Administrator:

          (1)  Prior to the Participant's Retirement Date; and

          (2)  In the year prior to the year the first payment is to be made
               and, in all cases, at least six months/ten days prior to the time
               the first payment is to be made.

     (b)  Participants may elect:

          (1)  One lump-sum payment; or

          (2)  Quarterly, semiannual or annual installments - to be made over a
               period of years, up to a maximum period of 15 years; or

          (3)  A combination of (1) and (2).

     (c)  Subject to the provisions of this paragraph (c), a Participant may
          delay the first payment for a period up to ten years following his/her
          Retirement Date; provided, however, that, in all cases, payments must
          begin no later than the year in which the Participant's 75th birthday
          occurs for Participants who retire prior to their 75th birthday; or no
          later than the Participant's Retirement Date for Participants who
          retire on or after their 75th birthday.

     (d)  The payment schedule elected by the Participant shall apply to his/her
          entire Account.  Participants may designate the first day of the
          quarter for the commencement of the payment schedule on an annual,
          semiannual or quarterly basis.

                                  -Page 5.1-
<PAGE>

          Each installment payment shall be calculated by dividing the
          Participant's account balance by the remaining number of installments
          -(e.g.: Ten annual installments shall be paid: 1st installment = 1/10
            ----
          of Account; 2nd installment = 1/9 of Account; 3rd installment = 1/8 of
          Account, etc.). In the case of distributions made prior to May 1,
          2001, if the installment payment is to be in the form of PPG Stock,
          any stock increment shall be rounded down to the nearest whole stock
          share. Any remaining stock increments shall remain in the Account
          until subject to further payment. In the case of distributions made on
          and after May 1, 2001, if the installment payment is to be in the form
          of PPG Stock, such distribution shall be made in whole shares and cash
          equal to any fractional share.

     (e)  In the event a Participant fails to file a payment schedule election
          with the Administrator prior to his/her Retirement Date, his/her
          Account shall be paid in one lump sum in the year following the year
          of such Retirement Date and shall be paid during the first quarter of
          such year which is at least six months/ten days following such
          Retirement Date.

     (f)  Payment schedules pursuant to this Section 5.02 shall supersede any
          prior payment election(s) filed with the Administrator; and shall
          become irrevocable on the Participant's Retirement Date.

5.03 Withdrawals Following Termination
     ---------------------------------

     (a)  Except as provided in paragraph (d) below:

          (1)  A Participant may elect one lump-sum payment, in accordance with
               subparagraph (b)(1) below, or may elect to receive up to five
               annual installments, in accordance with subparagraph (b)(2)
               below.

          (2)  Any election made pursuant to this paragraph (a) must be filed
               with the Administrator no later than 30 days after the
               Participant's Termination of Employment.

     (b)  (1)  Participants who elect to receive a lump-sum, must specify the
               quarter/year that the lump-sum payment is to be made; provided,
               however, that the Participant must elect to receive the payment
               no later than the last quarter of the year in which the fifth
               anniversary of his/her termination date occurs. Payment must
               occur no earlier than the Plan Year after the Plan Year of the
               Participant's election and as of the first day of the first
               quarter which is at least six (6) months and 10 days following
               the Participant's election.

          (2)  Participants who elect to receive installments, must specify the
               quarter/year that such installments will begin; provided,
               however, that the Participant must elect to begin installments no
               later than the last quarter of the year in which the fifth

                                  -Page 5.2-
<PAGE>

               anniversary of his/her termination date occurs. Installments must
               begin no earlier than the Plan Year after the Plan Year of the
               Participant's election and as of the first day of the first
               quarter which is at least six (6) months and 10 days following
               the Participant's election. The payment schedule elected by the
               Participant shall apply to his/her entire Account. Each
               installment shall be calculated by dividing the Participant's
               account balance by the remaining number of installments- (e.g.:
               Five annual installments shall be paid: 1st installment = 1/5 of
               Account; 2nd installment = 1/4 of Account, etc.). In the case of
               distributions made prior to May 1, 2001, if the installment
               payment is to be in the form of PPG Stock, any stock increment
               shall be rounded down to the nearest whole stock share. Any
               remaining stock increments shall remain in the Account until
               subject to further payment. In the case of distributions made on
               and after May 1, 2001, if the installment payment is to be in the
               form of PPG Stock, such distribution shall be made in whole
               shares and cash equal to any fractional share.

          (c)  In the event a Participant fails to file a payment election with
               the Administrator within the time provided in paragraph (a)
               above, his/her Account shall be paid in one lump sum in the year
               following:

               (i)  the year in which the Participant's termination occurs; or,
                    if later

               (ii) the year in which the 30th day following the Participant's
                    termination occurs; and

               shall be paid during the first quarter of the applicable year
               specified in (i) or (ii) above.

          (d)  In the event the Administrator determines, in his sole
               discretion, that a termination is "for cause," or is otherwise
               potentially adverse to the Company's interest, as for example, a
               Participant's termination in order to accept a position with a
               major competitor, the Participant shall have no election with
               respect to payment of his/her Account. Such Participant shall
               receive his/her entire Account balance as of the first day of the
               first quarter immediately following his/her termination date.

          (e)  Payment schedules pursuant to this Section 5.03 shall supersede
               any prior payment election(s) filed with the Administrator.

          (f)  In accordance with authority delegated to the Administrator by
               the Committee at its meeting on September 20, 1995, the
               Administrator granted the option of five installments, as
               provided in paragraphs (a) and (b) of this Section to those
               employees whose employment with the Company was terminated as a
               result of the sale of the Chemicals Surfactants business to BASF
               Corp. on December 1, 1997.

                                  -Page 5.3-
<PAGE>

          (g)  In accordance with authority delegated to the Administrator by
               the Committee at its meeting on September 20, 1995, the
               Administrator has adopted the following with respect to
               Participants who become employees of PPG Auto Glass, LLC: Such
               Participants shall not incur a "termination" as contemplated by
               this Section 5 unless or until the Participant is no longer
               employed by either PPG Industries, Inc. or PPG Auto Glass, LLC.

5.04 Withdrawals in the event of Disability
     --------------------------------------

     (a)  In the event a Participant becomes disabled, he/she may elect a
          payment schedule applicable to his/her Account provided such election
          is filed with the Administrator within 30 days of the Administrator's
          determination that such Participant has a Disability.

     (b)  Participants may elect:

          (1)  One lump-sum payment; or

          (2)  Quarterly, semiannual or annual installments - to be made over a
               period of years, up to a maximum period of 15 years; or

          (3)  A combination of (1) and (2).

     (c)  A Participant may delay the first payment for a period of up to ten
          years following the determination that he/she has a Disability;
          provided, however, that, in all cases, payments must begin no later
          than the year in which the Participant's 75th birthday occurs.
          Payments must commence no earlier than the Plan Year following the
          Plan Year in which the Participant files an election in accordance
          with paragraph (a) of this Section 5.04, and as of the first day of
          the first quarter which is at least six (6) months and 10 days
          following such election.

     (d)  The payment schedule elected by the Participant shall apply to his/her
          entire Account. Participants may designate the first day of a quarter
          for the commencement of the payment schedule on an annual, semiannual
          or quarterly basis.

          Each installment payment shall be the applicable fraction of the
          Participant's Account balance -(e.g.:  Ten annual installments shall
                                          ----
          be paid:  1st installment = 1/10 of Account;  2nd installment = 1/9 of
          Account;  3rd installment = 1/8 of Account, etc.). .).  In the case of
          distributions made prior to May 1, 2001, if the installment payment is
          to be in the form of PPG Stock, any stock increment shall be rounded
          down to the nearest whole stock share.  Any remaining stock increments
          shall

                                  -Page 5.4-
<PAGE>

          remain in the Account until subject to further payment. In the case of
          distributions made on and after May 1, 2001, if the installment
          payment is to be in the form of PPG Stock, such distribution shall be
          made in whole shares and cash equal to any fractional share.

     (e)  In the event a Participant fails to file a payment schedule election
          with the Administrator within the period specified in paragraph (a)
          above, his/her Account shall be paid in one lump sum in the year
          following the year in which the latest date for filing an election
          occurs, and shall be paid during the first quarter in such year.

     (f)  Payment schedules pursuant to this Section 5.04 shall supersede any
          prior payment election(s) filed with the Administrator; and shall
          become irrevocable when filed in accordance with paragraph (a).

5.05 Withdrawals following a Participant's death
     -------------------------------------------

     (a)  Death prior to a Participant's Election Date
          --------------------------------------------

          In the event of a Participant's death prior to his/her Election Date,
          the Participant's entire Account shall be paid to the Participant's
          Beneficiary as soon as possible following the Participant's death.

     (b)  Death on or after a Participant's Election Date
          -----------------------------------------------

          In the event of a Participant's death on or after his/her Election
          Date, the Participant's Beneficiary may elect to receive the remaining
          balance of the Participant's Account paid as a lump sum, or in
          accordance with the payment schedule filed by the Participant.

          Such election must be filed by the Beneficiary within 60-days
          following the Participant's death. If no such election is made, the
          balance in the Participant's Account shall be paid in a lump sum. Any
          lump sum payment made in accordance with this paragraph shall be paid
          in the Plan Year following:

          (i)  the year in which the Participant's death occurs; or, if later

          (ii) the year in which the 60th day following the Participant's death
               occurs; and

          shall be paid during the first quarter of the applicable year
          specified in (i) or (ii) above.

                                  -Page 5.5-
<PAGE>

     (c)  For purposes of this Section 5.05 "Election Date" means the date on
          which the Participant's election schedule becomes irrevocable in
          accordance with paragraph (f) of Section 5.02 or paragraph (f) of
          Section 5.04.

5.06 Withdrawals upon finding of Financial Hardship
     -----------------------------------------------

     (a)  Upon a finding that the Participant, or Beneficiary if the Participant
          is deceased, has suffered a Financial Hardship, the Administrator may,
          in his sole discretion, permit the acceleration of a withdrawal under
          the Plan in an amount reasonably necessary to alleviate such Financial
          Hardship.

     (b)  If the Administrator permits a withdrawal due to Financial Hardship,
          the Participant shall cease Salary deferrals, if any, and may not make
          any deferrals under the Plan, in the form of an Award or Salary, until
          one entire Plan Year has elapsed following the Plan Year in which such
          withdrawal is made.

     (c)  The Participant shall be required to exhaust all other sources of
          funds, other than the Savings Plan, before the Administrator will
          consider an accelerated withdrawal in accordance with this Section
          5.06.

     (d)  A withdrawal pursuant to this Section 5.06 shall nullify any in-
          service withdrawal election filed in accordance with Section 5.01.

5.07 Unscheduled Withdrawals
     -----------------------

     (a)  A Participant, or Beneficiary if the Participant is deceased, may
          request an Unscheduled Withdrawal of all or a portion of the
          Participant's Investment Accounts and/or PPG Stock Account.  Payments
          from the PPG Stock Fund shall be made in the form of PPG Shares, and
          payment from the Investment Accounts shall be paid in cash.

          An Insider of PPG may not request an Unscheduled Withdrawal from the
          PPG Stock Account at any time that such withdrawal would constitute a
          Prohibited Discretionary Transaction. A Participant, or Beneficiary,
          may request not more than one (1) Unscheduled Withdrawal in a Plan
          Year.

     (b)  An Unscheduled Withdrawal must be a minimum of 25% of the
          Participant's Investment and PPG Stock Accounts.

     (c)  An election to withdraw 75% or more of the Participant's Investment
          and Stock Accounts shall be deemed a request to withdraw the entire
          Account balance.

                                  -Page 5.6-
<PAGE>

     (d)  Prior to payment of any Unscheduled Withdrawal, a penalty of 10% of
          the Unscheduled Withdrawal amount shall be withheld and forfeited (or
          5% if such Unscheduled Withdrawal is made during the Plan Year in
          which a Change in Control occurs, or the Plan Year immediately
          following such Change in Control) and the Participant shall cease
          Salary deferrals, if any, effective on the date the withdrawal is paid
          and may not make any deferrals under the Plan, in the form of an Award
          or Salary, until one entire Plan Year has elapsed following the Plan
          Year in which such Unscheduled Withdrawal is made.

     (e)  A withdrawal pursuant to this Section 5.07 shall nullify any scheduled
          in-service withdrawal election filed in accordance with Section 5.01.

5.08 Methods of Payment
     ------------------

     (a)  PPG Stock Account
          -----------------

          Any payment from the PPG Stock Account shall be paid in the form of
          PPG Stock.

          At the time of the final scheduled payment, if payments were disbursed
          from the PPG Stock Account in shares of PPG Stock, any remaining
          fractional shares of PPG Stock shall be converted to and paid in cash.

     (b)  Investment Accounts
          -------------------

          Payments from the Investment Accounts shall be made in cash. The value
          shall be determined using the value of the closing price of the
          appropriate Investment Account Shares on the last business day of the
          month preceding the month in which the distribution is made.

     (c)  All payments to Participants, or their Beneficiaries, shall be made on
          the first business day of a calendar quarter.

5.09 Small Account Provision
     -----------------------

     (a)  Each scheduled withdrawal must equal a minimum of $2,000.

     (b)  If the remaining balance in a Participant's Account is less than
          $2,000, the Administrator may, at his discretion, distribute the
          remainder of the Account.

                                  -Page 5.7-
<PAGE>

5.10 Special Rules for Withdrawals by Insiders
     -----------------------------------------

     Anything to the contrary in this Section 5 notwithstanding, Insiders may
     not, without prior approval of the Senior Vice President, Human Resources
     and Administration, or his or her successor, withdraw any amount from the
     PPG Stock Account which was credited to their Account balance within the
     prior six months.

5.11 Withdrawals of amounts from the Transferred Interest Account
     ------------------------------------------------------------

     (a)  Withdrawals from the Transferred Interest Account shall be governed by
          the election made by the Participant for his/her CEA-2 account.

     (b)  In the event of a Participant's death prior to receiving the entire
          balance in his/her Transferred Interest Account, the Participant's
          Beneficiary may elect to receive the remaining balance of the
          Participant's Transferred Interest Account paid as a lump sum, or in
          accordance with the payment schedule filed by the Participant.

          Such election must be filed by the Beneficiary within 60-days
          following the Participant's death.  If no such election is made, the
          balance in the Participant's account shall be paid in a lump sum.  Any
          lump sum payment made in accordance with this paragraph shall be paid
          in the Plan Year following:

          (i)  the year in which the Participant's death occurs; or, if later

          (ii) the year in which the 60th day following the Participant's death
               occurs; and

          shall be paid during the first quarter of the applicable year
          specified in (i) or (ii) above.

                                  -Page 5.8-
<PAGE>

                        SECTION VI - SPECIFIC PROVISIONS
                        --------------------------------
                              RELATED TO BENEFITS
                              -------------------

6.01 Nonassignability
     ----------------

     (a)  Except as provided in paragraph (b) below and in Section 6.02, no
          person shall have any power to encumber, sell, alienate, or otherwise
          dispose of his/her interest under the Plan prior to actual payment to
          and receipt thereof by such person; nor shall the Administrator
          recognize any assignment in derogation of the foregoing.  No interest
          hereunder of any person shall be subject to attachment, execution,
          garnishment or any other legal, equitable, or other process.

     (b)  Paragraph (a) above shall not apply to the extent that a Participant's
          interest under the Plan is alienated pursuant to a "Qualified Domestic
          Relations Order" ("QDRO") as defined in (S)414(p) of the Code.

          (1)  The Administrator is authorized to adopt such procedural and
               substantive rules and to take such procedural and substantive
               actions as the Administrator may deem necessary or advisable to
               provide for the payment of amounts from the Plan to an Alternate
               Payee as provided in a QDRO.  Such rules and actions shall be
               consistent with the principal purposes of the Plan.

          (2)  Under no circumstances may the Administrator accept an order as a
               QDRO following a Participant's death.

          (3)  An Alternate Payee may not establish an account in the Plan.  All
               amounts taken from a Participant's Account, as provided in a
               QDRO, must be distributed as soon as possible following the
               acceptance of an order as a QDRO.

          (4)  In the sole discretion of the Administrator, a Participant's
               scheduled withdrawal or otherwise requested withdrawal may be
               delayed for a period, not to exceed six months, if the
               Administrator has notice that part or all of the Participant's
               Account may be subject to alienation pursuant to a QDRO.

6.02 Beneficiary Designation
     -----------------------

     (a)  The Participant shall have the right, at any time and from time to
          time, to designate any person(s) as Beneficiary.  The designation of a
          Beneficiary shall be effective on the date it is received by the
          Administrator, provided the Participant is alive on such date.

                                  -Page 6.1-
<PAGE>

     (b)  Each time a Participant submits a new Beneficiary designation form to
          the Administrator, such designation shall cancel all prior
          designations.

     (c)  In the case of a Participant who does not have a valid Beneficiary
          designation on file at the time of his/her death, or in the case the
          designated Beneficiary predeceases the Participant, the entire balance
          in the Participant's Account shall be paid as soon as possible to the
          Participant's estate.

     (d)  Any Beneficiary designated by the Participant under the IC Plan, the
          Annual Plan or MAP filed before January 1, 1996, shall remain in
          effect for this Plan, until a new Beneficiary designation form is
          filed in accordance with this Section 6.02, on or after January 1,
          1996.

6.03 Limited Right to Assets of the Corporation
     ------------------------------------------

     The Benefits paid under the Plan shall be paid from the general funds of
     the Company, and the Participants and any Beneficiary shall be no more than
     unsecured general creditors of the Company with no special or prior right
     to any assets of the Company for payment of any obligations hereunder.

6.04 Protective Provisions
     ---------------------

     The Participant or Beneficiary shall cooperate with the Administrator by
     furnishing any and all information requested by the Administrator in order
     to facilitate the payment of benefits hereunder.  If a Participant refuses
     to cooperate, he/she may be deemed ineligible to receive a distribution
     and/or ineligible to continue to actively participate in the Plan.

6.05 Withholding
     -----------

     The Participant or Beneficiary shall make appropriate arrangements with the
     Administrator for satisfaction of any federal, state or local income tax
     withholding requirements and Social Security or other employee tax
     requirements applicable to the payment of benefits under the Plan.  If no
     other arrangements are made, the Administrator may provide for such
     withholding and tax payments by any means he deems appropriate, in his sole
     discretion.

6.06 Forfeiture Provision
     --------------------

     (a)  In the event the Company becomes aware that a Participant is engaged
          or employed as a business owner, employee, or consultant in any
          activity which is in competition with any line of business of the
          Corporation, or has engaged in any activity otherwise determined to be
          detrimental to the Company, the Administrative Subcommittee may:

                                  -Page 6.2-
<PAGE>

          (1)  Terminate such Participant's participation in the Plan, and
               distribute the entire amount in the Participant's Account in a
               lump sum;

          (2)  Apply any other diminution or forfeiture of benefits, which is
               specifically approved by the Administrative Subcommittee.

          For purposes of this Section 6.06, the Administrative Subcommittee
          shall consist of the Senior Human Resources Officer of the Company,
          the Director, Payroll and Benefits, and a representative of the Law
          Department, as appointed by the General Counsel of PPG. The
          Administrative Subcommittee shall report all of its activities to the
          Committee.

     (b)  TSR Plan and the Long-Term Plan
          -------------------------------

          A Participant may forfeit any or all deferrals from the TSR Plan or
          the Long-Term Plan held in his/her Account if the Committee determines
          that such forfeiture shall occur in accordance with Section 4.04 of
          the TSR Plan or the Long-Term Plan, as applicable.

                                  -Page 6.3-
<PAGE>

                     SECTION VII - ADMINISTRATION & CLAIMS
                     -------------------------------------

7.01 Administration
     --------------

     (a)  The Administrator shall administer the Plan and interpret, construe
          and apply its provisions in accordance with its terms.  The
          Administrator shall have the complete authority to:

          (1)  Determine eligibility for benefits;

          (2)  Construe the terms of the Plan; and

          (3)  Control and manage the operation of the Plan.

     (b)  The Administrator shall have the authority to establish rules for the
          administration and interpretation of the Plan and the transaction of
          its business.  The determination of the Administrator as to any
          disputed question shall be conclusive.  All actions, decisions and
          interpretations of the Administrator shall be performed in a uniform
          and nondiscriminatory manner.

     (c)  The Administrator may employ counsel and other agents and may procure
          such clerical, accounting and other services as the Administrator may
          require in carrying out the provisions of the Plan.

     (d)  The Administrator shall not receive any compensation from the Plan for
          his services.

     (e)  The Corporation shall indemnify and save harmless the Administrator
          against all expenses and liabilities arising out of the
          Administrator's service as such, excepting only expenses and
          liabilities arising from the Administrator's own gross negligence or
          willful misconduct, as determined by the Committee.

7.02 Claims
     ------

     (a)  Every person receiving or claiming benefits under the Plan shall be
          conclusively presumed to be mentally and physically competent and of
          age.  If the Administrator determines that such person is mentally or
          physically incompetent or is a minor, payment shall be made to the
          legally appointed guardian, conservator, or other person who has been
          appointed by a court of competent jurisdiction to care for the estate
          of such person, provided that proper proof of such appointment is
          furnished in a form and manner suitable to the Administrator.  Any
          payment made under the provisions of the paragraph (a) shall be a
          complete discharge of any

                                  -Page 7.1-
<PAGE>

          liability therefor under the Plan. The Administrator shall not be
          required to see to the proper application of any such payment.

     (b)  Claims Procedure
          ----------------

          Claims for benefits by a Participant or Beneficiary shall be filed, in
          writing, with the Administrator.  If the Administrator denies the
          claim, in whole or in part, the Administrator shall furnish a written
          notice to the claimant setting forth a statement of the specific
          reasons for the denial of the claim, references to the specific
          provisions of the Plan on which the denial is based, a description of
          any additional material or information necessary to perfect the claim
          and an explanation of why such material or information is necessary,
          and an explanation of the review procedure.  Such notice shall be
          written in a way calculated to be understandable by the claimant.

          The written notice from the Administrator shall be furnished to the
          claimant within ninety (90) days following the date on which the claim
          was filed, except that if special circumstances require an extension
          of time, the Administrator shall notify the claimant of this need
          within such 90-day period.  Such notice shall inform the claimant the
          nature of the circumstances necessitating the need for additional time
          and the date by which the claimant will be furnished with the decision
          regarding the claim.  Such extension may provide for up to an
          additional 90 days.

     (c)  Review Procedure
          ----------------

          Within sixty (60) days of the date the Administrator denies a claim,
          in whole or in part, the claimant, or his/her authorized
          representative, may request that the decision be reviewed. Such
          request shall be in writing, shall be filed with the Administrator,
          and shall contain the following information:

          (1)  The date on which the denial was received by the claimant;

          (2)  The date on which the claimant's request for review was filed
               with the Administrator;

          (3)  The specific portions of the denial which the claimant requests
               the Administrator to review;

          (4)  A statement setting forth the basis on which the claimant
               believes that a review of the decision is required;

                                  -Page 7.2-
<PAGE>

          (5)  Any written material which the claimant desires the Administrator
               to take into consideration in reviewing the claim.

          The Administrator shall afford the claimant, or his/her authorized
          representative, an opportunity to review documents pertinent to the
          claim, and shall conduct a full and fair review of the claim and its
          denial.  The Administrator's decision on such review shall be
          furnished to the claimant in writing, and shall be written in a manner
          calculated to be understandable to the claimant.  Such decision shall
          include a statement of the specific reason(s) for the decision,
          including references to the specific provision(s) of the Plan relied
          upon.

          The written notice from the Administrator shall be furnished to the
          claimant within sixty (60) days following the date on which the
          request for review was received by the Administrator, except that if
          special circumstances require an extension of time, the Administrator
          shall notify the claimant of this need within such 60-day period.
          Such notice shall inform the claimant the nature of the circumstances
          necessitating the need for additional time and the date by which the
          claimant will be furnished with the decision regarding the claim.
          Such extension may provide for up to an additional 60 days.

                                  -Page 7.3-
<PAGE>

                    SECTION VIII - AMENDMENT AND TERMINATION
                    ----------------------------------------

8.01 Amendment of the Plan
     ---------------------

     Except as provided in Section X, the Committee may amend the Plan, in whole
     or in part, at any time; however, no such amendment may decrease the amount
     of benefit currently accrued in Participants' Accounts.

     Except as provided in Section X, the Administrator shall have the authority
     to adopt amendments to the Plan, in whole or in part, at any time,
     necessary for the implementation and/or administration of the Plan, which
     will not result in a material change to the Plan.  Moreover, no such
     amendment by the Administrator may decrease the amount of benefit currently
     accrued in Participants' Accounts.

8.02 Termination of the Plan
     -----------------------

     Except as provided in Section X, the Committee may terminate the Plan at
     any time.   Upon a termination pursuant to this Section 8.02, the Committee
     has the sole discretion to determine distribution schedules for any or all
     Accounts, notwithstanding a Participant's previous distribution schedule.

8.03 Constructive Receipt
     --------------------

     In the event the Administrator determines that amounts deferred under the
     Plan have been constructively received by Participants and must be
     recognized as income for federal income tax purposes, distributions shall
     be made to Participants, as determined by the Administrator.  The
     determination of the Administrator under this Section 8.03 shall be binding
     and conclusive.

                                  -Page 8.1-
<PAGE>

                           SECTION IX - MISCELLANEOUS
                           --------------------------

9.01 Successors of the Company
     -------------------------

     The rights and obligations of the Company under the Plan shall inure to the
     benefit of, and shall be binding upon, the successors and assigns of the
     Company.

9.02 ERISA Plan
     ----------

     The Plan is intended to be an unfunded plan maintained primarily to provide
     deferred compensation benefits for "a select group of management or highly
     compensated employees" within the meaning of Sections 201, 301 and 401 of
     ERISA and therefore to be exempt from Parts 2, 3 and 4 of Title I of ERISA.

9.03 Trust
     -----

     The Company shall be responsible for the payment of all benefits under the
     Plan.  Except as otherwise required by Section X, the Company, at its
     discretion, may establish one or more grantor trusts for the purpose of
     providing for payment of benefits under the Plan.  Such trust(s) may be
     irrevocable, but the assets thereof shall be subject to the claims of the
     Company's creditors.  Benefits paid to the Participant from any such trust
     shall be considered paid by the Company for purposes of meeting the
     obligations of the Company under the Plan.

9.04 Employment Not Guaranteed
     -------------------------

     Nothing contained in the Plan nor any action taken hereunder shall be
     construed as a contract of employment or as giving any Participant any
     right to continued employment with the Corporation.

9.05 Gender, Singular and Plural
     ---------------------------

     All pronouns and variations thereof shall be deemed to refer to the
     masculine, feminine, or neuter, as the identity of the person(s) requires.
     As the context may require, the singular may be read as the plural and the
     plural as the singular.

9.06 Headings
     --------

     The headings of the Sections, subsections and paragraphs of the Plan are
     for convenience only and shall not control or affect the meaning or
     construction of any of its provisions.

                                  -Page 9.1-
<PAGE>

9.07 Validity
     --------

     If any provision of the Plan is held invalid, void or unenforceable, the
     same shall not affect, in any respect, the validity of any other
     provision(s) of the Plan.

9.08 Waiver of Breach
     ----------------

     The waiver by the Company of any breach of any provision of the Plan by a
     Participant or Beneficiary shall not operate or be construed as a waiver of
     any subsequent breach.

9.09 Applicable Law
     --------------

     The Plan is intended to conform and be governed by ERISA.  In any case
     where ERISA does not apply, the Plan shall be governed and construed in
     accordance with the laws of the Commonwealth of Pennsylvania.

9.10 Notice
     ------

     Any notice required or permitted to be given to the Administrator under the
     Plan shall be sufficient if in writing and either hand-delivered, or sent
     by first class mail to the principal office of the Company at One PPG
     Place, Pittsburgh, PA 15272, directed to the attention of the
     Administrator.  Such notice shall be deemed given as of the date of
     delivery.

                                  -Page 9.2-
<PAGE>

                         SECTION X - CHANGE IN CONTROL
                         -----------------------------

10.01 Payments to a Trustee
      ---------------------

      Upon, or in reasonable anticipation of, a Change in Control, as defined in
      Section 10.02 below, the Senior Vice President, Human Resources and
      Administration and the Senior Vice President, Finance, or either of them
      or their successor, shall cause an amount, as they deem appropriate, to be
      paid to a trustee on such terms as they shall deem appropriate (including
      such terms as are appropriate to cause such payment not to be a taxable
      event to Participants, if possible, and to cause such Awards to be
      distributable to Participants in accordance with elections filed with the
      Administrator). Such amount shall be paid in cash and shall be sufficient,
      at a minimum, to equal to all deferred amounts credited to the Investment
      Accounts, the Transferred Interest Account, and the PPG Stock Account.
      Amounts in the PPG Stock Account shall be converted to cash on the basis
      of the fair market value of PPG Stock on the date of the occurrence of the
      Change in Control, or, if higher, within 30 days of such date. Amounts in
      the Investment Accounts shall be converted to cash on the basis of the
      fair market value of the appropriate Investment Account on the date of the
      occurrence of the Change in Control, or, if higher, within 30 days of such
      date.

10.02 Definition:  Change in Control
      ------------------------------

      A "Change in Control" shall mean:

      (a)  The acquisition by any individual, entity or group (within the
           meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange
           Act of 1934, as amended (the "Exchange Act")) (a "Person") of
           beneficial ownership (within the meaning of Rule 13d-3 promulgated
           under the Exchange Act) of 20% or more of either (i) the then
           outstanding shares of common stock of the Company (the "Outstanding
           Company Common Stock") or (ii) the combined voting power of the then
           outstanding voting securities of the Company entitled to vote
           generally in the election of directors (the "Outstanding Company
           Voting Securities").

           For purposes of this subsection (a) the following acquisitions shall
           not constitute a Change in Control:

           Any acquisition directly from the Company;

           Any acquisition by the Company;

           Any acquisition by any employee benefit plan (or related trust)
           sponsored or maintained by the Company or any corporation controlled
           by the Company; or

                                  -Page 10.1-
<PAGE>

          Any acquisition by any corporation pursuant to a transaction which
          complies with clauses (i), (ii) and (iii) of paragraph (c) of this
          Section 10.02.

     (b)  Individuals who, as of September 20, 1995, constitute the Board (the
          "Incumbent Board") cease for any reason to constitute at least a
          majority of the Board; provided, however, that any individual
          becoming a director subsequent to such date whose election, or
          nomination for election by the Company's shareholders, was approved
          by a vote of at least a majority of the directors then comprising the
          Incumbent Board shall be considered as though such individual were a
          member of the Incumbent Board, but excluding, for this purpose, any
          such individual whose initial assumption of office occurs as a result
          of an actual or threatened election contest with respect to the
          election or removal of directors or other actual or threatened
          solicitation of proxies or consents by or on behalf of a Person other
          than the Board; or

     (c)  Approval by the shareholders of the Company of a reorganization,
          merger or consolidation or sale or other disposition of all or
          substantially all of the assets of the Company (a "Business
          Combination"), in each case, unless, following such Business
          Combination:

          (i)  All or substantially all of the individuals and entities who were
               the beneficial owners, respectively, of the Outstanding Company
               Common Stock and Outstanding Company Voting Securities
               immediately prior to such Business Combination beneficially own,
               directly or indirectly, more than 60% of, respectively, the then
               outstanding shares of common stock and the combined voting power
               of the then outstanding voting securities entitled to vote
               generally in the election of directors, as the case may be, of
               the corporation resulting from such Business Combination
               (including, without limitation, a corporation which as a result
               of such transaction owns the Company or all or substantially all
               of the Company's assets either directly or through one or more
               subsidiaries) in substantially the same proportions as their
               ownership, immediately prior to such Business Combination of the
               Outstanding Company Common Stock and Outstanding Company Voting
               Securities, as the case may be;

          (ii) No Person (excluding any employee benefit plan (or related trust)
               of the Company or such corporation resulting from such Business
               Combination) beneficially owns, directly or indirectly, 20% or
               more of, respectively, the then outstanding shares of common
               stock

                                  -Page 10.2-
<PAGE>

                of the corporation resulting from such Business Combination or
                the combined voting power of the then outstanding voting
                securities of such corporation except to the extent that such
                ownership existed prior to the Business Combination; and

          (iii) At least a majority of the members of the board of directors of
                the corporation resulting from such Business Combination were
                members of the Incumbent Board at the time of the execution of
                the initial agreement, or of the action of the Board, providing
                for such Business Combination; or

      (d) Approval by the shareholders of the Company of a complete liquidation
          or dissolution of the Company; or

      (e) A majority of the Board otherwise determines that a Change in Control
          shall have occurred.

10.03 Plan Provisions

      Following a Change in Control, the Plan may not be amended and may not be
      terminated. Upon a Change in Control, in accordance with Section 10.01,
      the Plan Document then in existence ("Controlling Plan") shall be provided
      to the Trustee. The Controlling Plan shall govern all amounts transferred
      and remain in effect until the Trustee has paid all such amounts to
      Participants and/or Beneficiaries.

                                  -Page 10.3-<PAGE>

                                                                    EXHIBIT 10.3

                             PPG INDUSTRIES, INC.
                                  STOCK PLAN

                      (As amended through April 18, 2002)

                                    [LOGO]

     This Prospectus relates to the shares of common stock of PPG Industries,
Inc., par value $1.66-2/3 per share (the "Common Stock"), to be offered pursuant
to the PPG Industries, Inc. Stock Plan (the "Plan").  The principal executive
offices of PPG Industries, Inc., the Sponsor of the Plan, are located at One PPG
Place, Pittsburgh, Pennsylvania 15272, and the telephone number thereof,
including area code, is (412) 434-3131.  This Prospectus is not an offering of
securities in any jurisdiction in which the offering is unauthorized.

                                 _____________

THESE SECURITIES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE SECURITIES AND
EXCHANGE COMMISSION NOR HAS THE COMMISSION PASSED UPON THE ACCURACY OR ADEQUACY
OF THIS PROSPECTUS.  ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.

                                 _____________

                 The date of this Prospectus is April 17, 1997.

                 THIS DOCUMENT CONSTITUTES PART OF A PROSPECTUS
                 COVERING SECURITIES THAT HAVE BEEN REGISTERED
                        UNDER THE SECURITIES ACT OF 1933
<PAGE>

                               TABLE OF CONTENTS

                                                                      Page
                                                                      ----
Incorporation of Certain
Documents by Reference................................................   3

Summary of Major Features of the Plan.................................   3
     Background.......................................................   3
     Purpose..........................................................   4
     Eligible Recipients..............................................   4
     Number of Shares Authorized......................................   5
     Stock Options....................................................   5
     Stock Appreciation Rights........................................   6
     Restricted Stock Awards..........................................   7
     Adjustment Provisions............................................   7
     Administration...................................................   7
     Amendment and Termination........................................   8
Federal Income Tax Consequences.......................................   8
     Exercise of Options--Payment of Option
       Price in Cash..................................................   8
     Exercise of Options --Payment of Option Price
       in Shares of Common Stock (Wholly or Partly)...................  11
     Restored Options.................................................  13
     Stock Appreciation Rights........................................  13
     Restricted Stock.................................................  14
     Limitation on Company Deductions.................................  15

Legal Opinions........................................................  16
Experts...............................................................  16

PPG Industries, Inc. Stock Plan.......................................  16

                                      -2-
<PAGE>

                INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE

     The Annual Report of PPG Industries, Inc. ("PPG") on Form 10-K for the
fiscal year ended December 31, 1996, and PPG's Proxy Statement dated March 7,
1997, each of which have been filed with the Commission, are incorporated herein
by reference and made a part hereof.

     All reports and other documents filed by PPG pursuant to Sections 13(a),
13(d), 14 or 15(d) of the Exchange Act after the date of this Prospectus and
prior to the filing of a post-effective amendment which indicates that all
securities offered hereby have been sold or which deregisters all of such
securities then remaining unsold shall be deemed to be incorporated by reference
in this Prospectus and to be a part hereof from the date of the filing of such
reports and other documents.

     PPG will provide, without charge, to each person to whom this Prospectus is
delivered, on the written or oral request of any such person, a copy of any or
all of the reports and other documents which have been or may be incorporated
herein by reference (other than exhibits to such reports and other documents
unless such exhibits are specifically incorporated therein by reference).  Such
requests should be directed in writing to PPG Industries, Inc., One PPG Place,
Pittsburgh, Pennsylvania 15272, Attention: Director, Investor Relations, or by
telephoning (412) 434-2120.

                     SUMMARY OF MAJOR FEATURES OF THE PLAN

     This summary will inform you of the most important provisions of the Plan.
It is only a summary, however, and is subject to the specific provisions of the
Plan, including the use of certain terms defined in the Plan. The complete text
of the Plan, as amended through December 12, 1996 and approved by the
shareholders of PPG on April 17, 1997, is set forth in this Prospectus beginning
on Page 16. The Plan is not subject to any provisions of the Employee Retirement
Income Security Act of 1974 and is not qualified under Section 401(a) of the
Internal Revenue Code of 1986, as amended (the "Internal Revenue Code").

Background

     The PPG Industries, Inc. Stock Plan (the "Plan") was adopted as the 1984
Stock Option Plan by the Board of Directors on February 16, 1984 and approved by
the shareholders on April 19, 1984. The Plan was amended by the Board of
Directors on February 18, 1988, February 20, 1992 and December 12, 1996, and
those amendments were approved by the shareholders on April 21, 1988, April 16,
1992 and April 17, 1997, respectively.

                                      -3-
<PAGE>

Purpose

     The Plan is designed to promote the growth and profitability of the Company
and its subsidiaries by giving Plan participants an opportunity to invest in and
hold the Common Stock and thereby (1) provide them with additional incentive to
cause the Company and its subsidiaries to grow and profit, (2) make their
compensation competitive with opportunities available in competing industries,
and (3) encourage them to continue in the employ of the Company or a subsidiary.

     The Plan authorizes the Committee or the Board (or others by delegation as
described below) to grant (i) Stock Options which are either incentive stock
options under the Internal Revenue Code of 1986 ("Incentive Options") or stock
options not qualified under the Internal Revenue Code of 1986 ("Nonqualified
Options") (Incentive Options and Nonqualified Options are referred to
individually or collectively herein as "Options"), (ii) Stock Appreciation
Rights and (iii) shares of Restricted Stock.  The Awards of Options, Stock
Appreciation Rights and Restricted Stock are hereinafter individually and
collectively called "Awards".

Eligible Recipients

     Eligible recipients of Awards include the Company's Directors and selected
Employees of the Company and the Company's subsidiaries.  Awards and the terms
of Awards to Outside Directors and to other persons who are subject to Section
16 of the Securities Exchange Act of 1934 will be determined by the Board or the
Committee.  Other Employees selected to receive Awards as well as the terms of
such Awards will be determined by the Board or the Committee or by others
designated by the Board or the Committee.  (The granting entities are
hereinafter referred to individually or collectively as the "Award Grantor.")
The number of participants who may be granted Options, Stock Appreciation Rights
and Restricted Stock in the future is not presently known because in each
instance it is in the discretion of the Award Grantor.  However, it is presently
contemplated that the number will be less than 3% of the number of Employees of
PPG and its Subsidiaries.  Neither the existence of the Plan nor the grant of
Options, Stock Appreciation Rights or Restricted Stock pursuant to the Plan
shall create in any recipient the right to continue to be employed by the
Company or a Subsidiary.

                                      -4-
<PAGE>

Number of Shares Authorized

     The Plan authorizes the grant of Restricted Stock and Options with respect
to a maximum of 10,000,000 shares of Common Stock (of which no more than 250,000
shares may be Restricted Stock) from and after April 17, 1997 (the "Grant
Authorization"). The issuance by the Company of 18,000,000 shares of Common
Stock is authorized (the "Issuance Authorization"). Common Stock will be
registered as required by the Securities and Exchange Commission regulations
prior to issuance. As of February 28, 1997 there were outstanding 8,008,199
unexercised Options under the Plan. The Issuance Authorization covers all
exercises of Options after April 17, 1997, including the exercise of outstanding
unexercised Options issued before that date, and all Restricted Stock awarded
under the Plan. The Plan also provides that the shares of Common Stock subject
to Options plus the number of shares of Restricted Stock granted to any one
person over the remaining life of the Plan will not exceed 2,000,000 shares. The
Grant Authorization and the Issuance Authorization and the individual limit on
Awards are subject to adjustment in certain events including stock dividends and
stock splits as more fully described later. The Plan also provides that shares
of Common Stock tendered to the Company by participants in exercising Options or
paying withholding taxes are restored to both Authorizations but not to the
individual limit on Awards. Any shares of Common Stock subject to unexercised
Options, and remaining unexercised at the expiration or termination thereof, are
restored to the Grant Authorization but not to the individual limit on Awards.
Restricted Stock issued under the Plan and later forfeited to the Company is
restored to both the Grant Authorization and the Issuance Authorization but not
to the individual limit on Awards. No Options, Stock Appreciation Rights or
Restricted Stock may be granted under the Plan after December 31, 2002, although
Common Stock may be issued after that date with respect to Options or Stock
Appreciation Rights outstanding on that date.

Stock Options

     Types of Options.  Stock Options are rights entitling a recipient to
purchase a stated number of shares of Common Stock at a price established at the
time the Stock Option is granted. Options granted under the Plan may be either
Incentive Options or Nonqualified Options. Incentive Options are Options which
qualify as "incentive stock options" as defined in Section 422 of the Internal
Revenue Code, including the regulations promulgated thereunder. Nonqualified
Options are Options that do not qualify as Incentive Options. At the time of
grant, each Option is designated as an Incentive Option or a Nonqualified
Option.

     Restored Options.  The Board or the Committee may specify at the time of
grant of an Incentive Option, and at or after the time of grant of Nonqualified
Options (including currently outstanding Nonqualified Options), that if the
Optionee surrenders (or certifies

                                      -5-
<PAGE>

ownership of) shares of Common Stock in full or partial payment of the Option
Price of an Option and/or if the Optionee surrenders shares of Common Stock or
causes shares of Common Stock to be withheld to pay taxes, the Optionee, subject
to availability of shares of Common Stock under the Plan, shall be granted a new
Nonqualified Option (a "Restored Option") covering a number of shares not
greater than the number so surrendered (or certified as to ownership) and/or
surrendered or withheld to pay taxes. A Restored Option may be granted in
connection with the exercise of an Option which is itself a Restored Option.

     Option Price and Term of Option.  At the time of grant, the Award Grantor
determines the price per share to be paid for the purchase of shares subject to
an Option upon exercise of the Option.  The specified price at which shares of
Common Stock may be purchased upon the exercise of an Option may be not less
than the Fair Market Value of a share of Common Stock on the Date of Grant of
the Option.  The Fair Market Value of a share of Common Stock will be the
closing sale price for any applicable date as reported on the New York Stock
Exchange-Composite Tape.  The Award Grantor may also specify the form of payment
of the Option Price, which may be cash, shares of Common Stock or a combination
of both.  The Award Grantor is also authorized to specify the term during which
an Option may be exercised, which may be not longer than ten (10) years from the
Date of Grant of the Option (or in the case of a Restored Option the remaining
term of the Option, the exercise of which generated the Restored Option).

     Other Option Provisions.  The grant of an Option will be evidenced by an
Award Agreement executed by PPG and the Optionee, specifying the number of
shares of Common Stock subject to the Option, whether the Option is an Incentive
Option or a Nonqualified Option, the Option Price and the Option Expiration Date
and containing such other provisions, not inconsistent with the Plan, as may be
prescribed by the Committee.

Stock Appreciation Rights

     Stock Appreciation Rights may be granted with respect to all or any of the
shares of Common Stock subject to an Option.  Stock Appreciation Rights relating
to an Incentive Option must be granted on the Date of Grant of the related
Option, while those relating to a Nonqualified Option may be granted either on
the Date of Grant of the related Option or thereafter at any time during the
term of the Option.  Stock Appreciation Rights will entitle an Optionee to
receive, upon exercise, a payment equal to the amount by which the value of a
share of Common Stock exceeds the Option Price, multiplied by the number of
shares with respect to which Stock Appreciation Rights are exercised.  Such
value will be the Fair Market Value of a share of Common Stock on the date of
exercise or, in the discretion of the Committee, the average of the Fair Market
Values of a share of Common Stock over such period as the Board or the Committee
may specify.

                                      -6-
<PAGE>

Payment of Stock Appreciation Rights may be in the form of cash,
shares of Common Stock, or a combination of both, as the Award Grantor may
specify.  Stock Appreciation Rights will be exercisable only to the extent the
related Option is exercisable and to the extent Stock Appreciation Rights are
exercised the related Option will be deemed to have been exercised.

Restricted Stock Awards

     Shares of Restricted Stock may be awarded by the Award Grantor to any
Eligible Person.  The Award may set forth such terms and conditions including,
but not limited to, forfeiture and vesting provisions and restrictions against
sale, assignment, transfer or other disposition as the Award Grantor may
determine. Recipients of Restricted Stock shall be entitled to all dividends
paid with respect to Restricted Stock during the period of restriction and shall
not be required to return such dividends in the event of forfeiture of the
Restricted Stock. The recipient shall be entitled to vote the Restricted Stock
during the period of restriction.

Adjustment Provisions

     If the Company shall at any time change the number of issued shares of
Common Stock by reason of any stock dividend, stock split or similar change, a
corresponding change will be made in the total number of shares reserved for
grant and for issuance under the Plan, the maximum number of shares available to
any individual through the Plan, and the number of shares covered by each
outstanding Award. In the event of any change in the outstanding shares of
Common Stock, or in the number thereof, by reason of any merger, consolidation,
combination, sale of assets, exchange of shares, recapitalization,
reorganization, spin-off or similar change, the Board or the Committee may make
such changes in the shares or in the numbers or Option Prices of shares, subject
to outstanding Awards, and in the maximum number of shares which may be issued
under the Plan, and in the number of shares of Restricted Stock which may have
been issued, as the Board or Committee may deem to be equitable.

Administration

     The Board of Directors and the Officers-Directors Compensation Committee of
the Board of Directors, the members of which are appointed by and may be removed
by the Board of Directors, both have full power and authority to administer,
implement and interpret the Plan and to determine all questions or controversies
arising in the administration or operation of the Plan.  The Board and the
Committee each may establish, amend or remove rules and regulations relating to
the Plan.  Any determination or decision made or action taken by the Board or
the Committee in connection with the

                                      -7-
<PAGE>

Plan will be final, conclusive and binding on all persons, including PPG, its
shareholders and Optionees.

Amendment and Termination

     The Board of Directors may amend, suspend or terminate the Plan, in whole
or in part, at any time, but no amendment may, without shareholder approval, (1)
increase the maximum number of shares which may be issued and for which Awards
may be granted (either in the aggregate or to any individual Participant), (2)
change the manner of determining the minimum Option Price (other than to make
any such change as may be necessary to conform to any then-applicable provision
of the Internal Revenue Code or any regulations thereunder), (3) extend the date
upon which the Plan will terminate, or (4) increase the maximum period during
which Options may be exercised. The Plan will terminate on December 31, 2002,
unless earlier terminated by the Board. No amendment, suspension or termination
may affect adversely, without the Participant's consent, the rights of such
Participant with respect to an Award previously granted.

                        FEDERAL INCOME TAX CONSEQUENCES

     Based on the present provisions of the Internal Revenue Code, and the
regulations thereunder, the Federal income tax consequences of the grant and
exercise of Options and Stock Appreciation Rights, the grant and vesting of
Restricted Stock and the payment of dividends thereon, and the subsequent
disposition of shares of Common Stock acquired under the Plan may be summarized
as set forth below.  The following represents an interpretation of the Internal
Revenue Code and the regulations thereunder and is intended only as a general
guide.  Each individual taxpayer's situation is different and you should seek
the advice of a competent tax advisor before you act.  You should be aware that
PPG has received a ruling from the Internal Revenue Service that, for holding
period purposes, the date of transfer of shares acquired upon the exercise of an
Option will be deemed to be the date on which payment in full of the amount due
upon such exercise is made.

Exercise of Options--Payment of Option Price in Cash

     Nonqualified Options.  No income will be recognized by an Optionee nor will
PPG be entitled to a Federal income tax deduction upon the grant of a
Nonqualified Option.  Upon the exercise of a Nonqualified Option, an Optionee
will recognize ordinary income on the date of transfer of the shares acquired
pursuant to such exercise equal to the amount by which the Fair Market Value of
such shares on the date of transfer exceeds the Option Price paid for such
shares.

                                      -8-
<PAGE>

     PPG will be entitled to a corresponding Federal income tax deduction in the
same amount and at the same time that ordinary income is recognized by an
Optionee.

     The Optionee's tax basis in the shares acquired will be equal to the Option
Price plus the amount of ordinary income recognized.  The Optionee's holding
period for capital gains purposes with respect to the shares will begin on the
date ordinary income is recognized.  Upon a subsequent disposition of the
shares, the Optionee will recognize either a long-term or short-term capital
gain (or loss) depending on how long the shares are held before disposition.

EXAMPLE A--Assume an Optionee exercises Nonqualified Options to acquire 200
shares, the Option Price for which is $45.00 per share.  Assume, further, that
the date of exercise is July 25, 1998, that the Fair Market Value of shares of
the Common Stock on July 25, 1998, is $60.00 per share and that the Optionee
makes payment of the Option Price by delivering a check in the amount of $9,000
to PPG on the date of exercise (and thereby makes the date of exercise also the
date of transfer).  The amount of ordinary income to be recognized would be
calculated as follows:

     Fair Market Value on the date of transfer
            of the shares acquired ($60.00 x 200)..................   $12,000.00
     Option Price paid for such shares ($45.00 x 200)..............    -9,000.00
                                                                      ----------

     Amount of Ordinary Income.....................................   $ 3,000.00

     The tax basis of the shares acquired would be $60.00 per share and the
holding period would begin on the date of transfer, July 25, 1998.

     Incentive Options.  No income will be recognized by the Optionee nor will
PPG be entitled to a Federal income tax deduction upon the grant or exercise of
an Incentive Option. Upon the subsequent disposition of the shares acquired,
assuming it is not a disqualifying disposition, the entire difference between
the Option Price and the proceeds received upon disposition will be treated as a
capital gain or loss. A disqualifying disposition will occur to the extent any
of the shares acquired upon exercise of an Incentive Option are disposed of
within two (2) years of the Date of Grant of the Incentive Option or within one
(1) year of the date of transfer of the shares acquired upon exercise of the
Incentive Option. Upon a disqualifying disposition, the Optionee will recognize
ordinary income equal to the excess of the lessor of the proceeds received upon
disposition (in the case of a sale or other taxable disposition) or the Fair
Market Value of the shares on the date of transfer over the Option Price. In the
case of a disqualifying disposition, the Optionee will also recognize long-term
or short-term capital gain (depending on whether the shares are held more than
the applicable long-term capital gains holding period before disposition) to the
extent, if any, that the proceeds received

                                      -9-
<PAGE>

exceed the Fair Market Value of the shares on the date of transfer. If the
proceeds received upon a disqualifying disposition are less than the Option
Price, the Optionee will recognize either a long-term or short-term capital loss
depending on how long the shares are held before disposition. In the case of a
disqualifying disposition, PPG will be entitled to a corresponding Federal
income tax deduction equal to the amount of ordinary income recognized by the
Optionee. Optionees should note that, generally, the amount by which the Fair
Market Value on the date of transfer of the stock received upon exercise of an
Incentive Option exceeds the Option Price, constitutes an item of "adjustment"
for "Alternative Minimum Tax" purposes.

     The Optionee's tax basis in the shares acquired will be equal to the Option
Price paid. For capital gains purposes, the Optionee's holding period with
respect to the shares acquired will begin on the date of transfer of the shares
to the Optionee.

EXAMPLE B--Assume an Optionee was granted an Incentive Option on July 17, 1998
and exercises that Incentive Option to acquire 200 shares, the Option Price for
which is $45.00 per share.  Assume further that the date of exercise is July 25,
1999, that the Fair Market Value of the shares on July 25, 1999, is $60.00 per
share and that the Optionee makes payment of the Option Price by delivering a
check in the amount of $9,000 to PPG on the date of exercise (and thereby makes
the date of exercise also the date of transfer).  Lastly, assume the sale of all
of the shares so acquired on August 7, 2000 for a price of $65.00 per share.  No
ordinary income would be recognized either upon exercise or upon subsequent
disposition of the shares acquired (as it is not a disqualifying disposition).

     The tax basis of the shares acquired would be $45.00 per share and the
holding period would begin on the date of transfer, July 25, 1999. The capital
gain to be recognized upon disposition would be calculated as follows:

     Proceeds upon disposition of the shares acquired
           ($65.00 x 200).........................................    $13,000.00
     Option Price paid for such shares ($45.00 x 200).............     -9,000.00
                                                                      ----------

     Amount of Capital Gain.......................................    $ 4,000.00

                                      -10-
<PAGE>

Exercise of Options--Payment of Option Price in Shares of Common Stock (Wholly
or Partly)

     Nonqualified Options.  To the extent an Optionee uses shares of Common
Stock already owned to pay the Option Price for a Nonqualified Option, the
exchange (a "Stock Swap") will be treated for Federal income tax purposes as a
tax-free exchange of the shares surrendered for an equal number of shares
acquired.  The Optionee will recognize ordinary income on the date of transfer
of the shares acquired pursuant to such exercise equal to the amount by which
the Fair Market Value of such shares on the date of transfer exceeds the Option
Price paid for such shares.

     PPG will be entitled to a corresponding Federal income tax deduction in the
same amount and at the same time that ordinary income is recognized by the
Optionee.

     The tax basis and holding period for capital gains purposes of the number
of shares acquired equal to the number of shares surrendered will be the same as
the tax basis and holding period of the shares surrendered. The tax basis of the
additional shares acquired will be equal, in the aggregate, to the amount of
ordinary income recognized by the Optionee plus any cash paid. The holding
period for capital gains purposes with respect to the additional shares acquired
will begin on the date the Optionee recognized income with respect to such
shares. Subsequent disposition of the shares acquired will result in either a
long-term or short-term capital gain (or loss) depending on how long the shares
are held before disposition.

EXAMPLE C--Assume an Optionee exercises Nonqualified Options to acquire 200
shares, the Option Price for which is $45.00 per share.  Assume further that the
date of exercise is July 25, 1998, that the Fair Market Value of shares of the
Common Stock on July 25, 1998, is $60.00 per share and that the Optionee makes
payment of the Option Price by certifying to the ownership of 135 shares, the
balance to be paid in cash.  Since the total Option Price which must be paid is
$9,000 (200 shares x $45.00) and the 135 shares to which the Optionee has
certified ownership have a Fair Market Value on the date of exercise of $8,100,
the Optionee must pay the balance of the Option Price, $900, in cash.  Assuming
further that a check in the amount of $900 is received by PPG on July 29, 1998
(which will become the date of transfer) and that the Fair Market Value of
shares of the Common Stock on July 29, 1998, is $62.00 per share.  The amount of
ordinary income to be recognized by the Optionee would be calculated as follows:

                                      -11-
<PAGE>

     Fair Market Value on the Date of transfer of the
           shares acquired ($62.00 x 200).......................      $12,400.00
     Option Price paid with shares of Common Stock
        (135 shares x $60.00)...................................       -8,100.00
     Option Price paid in cash ($9,000 - $8,100)                         -900.00
                                                                      ----------

     Amount of Ordinary Income..................................        3,400.00

     The tax basis and holding period for capital gains purposes of the number
of shares acquired equal to the number of shares surrendered (135) would be the
same as the tax basis and holding period of the shares surrendered. The tax
basis of the additional 65 shares would be $66.15 per share ($3,400 + $900 =
$4,300 / 65 shares = $66.15 per share). The holding period for the additional 65
shares would begin on July 29, 1998.

Incentive Options.  If an Optionee uses shares of Common Stock already owned to
pay the Option Price for an Incentive Option, no income will be recognized by
the Optionee with respect to the shares acquired nor will PPG be entitled to a
corresponding Federal income tax deduction.  However, this may result in a
disqualifying disposition if the shares used in the exercise were obtained in a
prior Incentive Option exercise and have not been held for the required holding
period.  After the exchange, all of the shares acquired will be subject to the
disqualifying disposition rules for Incentive Options.  For all other purposes,
the tax basis and holding period for capital gains purposes of the number of
shares acquired equal to the number of shares surrendered will be the same as
those surrendered.  The tax basis of the additional shares acquired will be zero
or any amount paid in cash.  The holding period of the additional shares for
capital gains purposes will begin on the date of transfer of the shares to the
Optionee.  In the case of a disqualifying disposition of any of the shares
acquired, the shares acquired with the lowest basis will be deemed disposed of
first.  Any disposition of acquired shares which is not a disqualifying
disposition will result in a capital gain (or loss) to the Optionee and PPG will
not be entitled to a corresponding Federal income tax deduction.  Optionees
should note that, generally, the amount by which the Fair Market Value on the
date of transfer of the stock received upon exercise of an Incentive Option
exceeds the Option Price, constitutes an item of "adjustment" for "Alternative
Minimum Tax" purposes.

EXAMPLE D--Assume an Optionee was granted an Incentive Option on July 17, 1998
and exercises that Incentive Option to acquire 200 shares, the Option Price for
which is $45.00 per share.  Assume further that the date of exercise is July 25,
1999, that the Fair Market Value of shares of the Common Stock on July 25, 1999
is $60.00 per share and that the Optionee makes payment of the Option Price by
certifying to the ownership of 135 shares, the balance to be paid in cash.
Since the total Option Price which must be paid is $9,000 and the 135 shares to
which the Optionee has certified ownership have a

                                      -12-
<PAGE>

Fair Market Value on the date of exercise of $8,100, the Optionee must pay the
balance of the Option Price, $900, in cash. Assume further that a check in the
amount of $900 is received by PPG on July 29, 1999 (which will become the date
of transfer) and that the Fair Market Value of shares of the Common Stock on
July 29, 1999, is $62.00 per share. Lastly, assume that all of the shares
acquired are sold on August 7, 2000 for a price of $65.00 per share. No ordinary
income is recognized either upon exercise or upon the subsequent disposition of
the shares acquired (as it is not a disqualifying disposition). The tax basis
and holding periods of the shares would be determined as follows: The 135 shares
to which the Optionee certified ownership covered the acquisition of 180
Incentive Option shares (135 shares x $60.00 / $45 = 180 shares). One hundred
thirty-five of such 180 shares would have a tax basis and holding period equal
to the tax basis and holding period of the 135 shares surrendered. The remaining
45 shares acquired in the "swap" would have a zero basis. The remaining 20
shares acquired for cash would have a tax basis of $45.00 per share ($900 / 20
shares). The holding period for all 65 new shares would begin on July 29, 1999.

     The capital gain to be recognized upon disposition of the 65 new shares
would be calculated as follows:

     Proceeds upon disposition of the shares acquired
           ($65.00 x 65)..........................................    $4,225.00
     Basis of shares ($0 + $900)..................................      -900.00
                                                                      ---------

     Amount of Capital Gain.......................................    $3,325.00

Restored Options

     Restored Options received as part of a "Stock Swap" will be taxed in the
same manner as any other Nonqualified Option.  Restored Options will not be
taxable upon grant, but will be taxable upon exercise in the same manner as any
other Nonqualified Option as explained above in this "Federal Income Tax
Consequences" section.

Stock Appreciation Rights

     The grant of Stock Appreciation Rights with respect to either an Incentive
Option or a Nonqualified Option will have no Federal income tax consequences for
either the Optionee or PPG. Upon the exercise of Stock Appreciation Rights, the
Optionee will recognize ordinary income on the date of exercise equal to the
amount of cash received and/or the Fair Market Value on the date of exercise of
the shares of Common Stock acquired. PPG will be entitled to a corresponding
Federal income tax deduction equal to the amount of ordinary income recognized
by the Optionee. The Optionee's tax basis in any shares acquired will be equal
to the Fair Market Value of such shares on the date the

                                      -13-
<PAGE>

Optionee recognizes ordinary income and the Optionee's holding period
for capital gains purposes will commence on such date.  Upon subsequent
disposition of any shares acquired, the Optionee will recognize either a long-
term or short-term capital gain (or loss) depending on how long the shares are
held before disposition.

EXAMPLE E--Assume an Optionee exercises Stock Appreciation Rights as to 200
shares and that the Option Price as to the underlying Options is $45.00 per
share.  Assume, further, that the date of exercise is August 8, 1998, that the
Fair Market Value of shares of the Common Stock on August 8, 1998, is $60.00 per
share.  Lastly, assume that the Stock Appreciation Rights are paid wholly in
shares (except for cash in lieu of any fractional share).  The value of the
Stock Appreciation Rights would be $3,000 ($60.00 - $45.00 x 200 = $3,000) which
would be paid in the form of 50 shares ($3,000.00 / $60.00 = 50 shares).  The
amount of ordinary income to be recognized would be $3,000.

     The tax basis of the shares acquired would be $60.00 per share and the
holding period would begin on August 8, 1998.

Restricted Stock

     A holder of Restricted Stock will recognize income when the stock becomes
substantially vested. Restricted Stock becomes substantially vested when it is
either transferable or is not subject to a substantial risk of forfeiture. If
the Restricted Stock is subject to restrictions that lapse in increments over a
period of time so that the holder becomes substantially vested in a portion of
the shares as the restrictions lapse, the holder will recognize income in any
tax year only with respect to the shares that become substantially vested during
that year. The income recognized will be equal to the Fair Market Value of those
shares, determined as of the time that the restrictions on those shares lapse.
That income will be taxable at ordinary income tax rates. The tax basis of the
shares acquired will be equal to the amount of ordinary income recognized. The
holding period for capital gain purposes with respect to the shares acquired
will begin on the date the shares become substantially vested. The Company will
be entitled to a deduction in an amount equal to the amount of ordinary income
recognized by the holder of the Restricted Stock.

     A holder of Restricted Stock may elect (a Section 83(b) election) instead
to recognize ordinary income for the taxable year in which he receives an Award
of Restricted Stock in an amount equal to the Fair Market Value of the
Restricted Stock on the date transferred to him (even though the shares are
still not substantially vested). That income will be taxable at ordinary income
tax rates. After the election has been made, no additional compensation will be
includable in gross income when such shares become substantially vested. In
computing gain or loss from the subsequent sale or exchange of such shares,
their tax basis will be the amount of ordinary income recognized as a result

                                      -14-
<PAGE>

of the election. Such gain or loss will be taxable at the applicable capital
gains rate. The holding period for capital gains purposes with respect to the
shares for which an election has been made shall begin on the date the shares
were transferred to the holder. Any such election must be made within thirty
days after the transfer of the Restricted Stock to the holder. The Company will
be entitled to a deduction in an amount equal to the amount of ordinary income
recognized by the holder at the time of the election. Use of an 83(b) election
should be coordinated with PPG's Law Department.

     Dividends paid to a holder of Restricted Stock before it is substantially
vested are treated as compensation and are taxed to the holder as ordinary
income and are subject to all employment taxes and W-2 reporting. The Company is
entitled to a deduction equal to such dividends. Dividends paid after Restricted
Stock has become substantially vested are taxed as normal dividends (i.e., taxed
as ordinary income to the holder of the stock) and the Company is not entitled
to deduct the dividend amount. Dividends paid after an 83(b) election are
treated as normal dividends and not as compensation, even though the shares may
still not be substantially vested.

Limitation On Company Deductions

     Under the Internal Revenue Code and regulations, no federal income tax
deduction is allowed for compensation paid to a "covered employee" in any
taxable year of the Company beginning on or after January 1, 1994, to the extent
that such compensation exceeds $1,000,000.  For this purpose, "covered
employees" are generally the chief executive officer of the Company and the four
highest compensated officers of the Company.  This deduction limitation does not
apply to compensation that is performance-based compensation.

     Regulations provide that compensation attributable to a Stock Option or a
Stock Appreciation Right will generally be performance-based compensation if the
grant or Award is made by a "compensation committee" (a committee of the Board
of Directors composed of "outside" directors), the Plan under which the Option
or right is granted states the maximum number of shares with respect to which
Options or rights may be granted during a specified period to any Employee, and,
under the terms of the Option or right, the amount of compensation the Employee
could receive is based solely on an increase in the value of the stock after the
date of the grant or Award. It is intended that Stock Options and Stock
Appreciation Rights granted under the Plan satisfy these requirements to the
extent possible.

                                      -15-
<PAGE>

                                LEGAL OPINIONS

     The legality of the shares of Common Stock to which this Prospectus relates
have been passed upon by Guy A. Zoghby, Senior Vice President and General
Counsel of PPG. Mr. Zoghby is a shareholder of PPG and an Optionee under the
Plan.

                                    EXPERTS

     The financial statements and schedules appearing in PPG's Annual Report on
Form 10-K for the fiscal year ended December 31, 1996, incorporated in this
Prospectus by reference, have been examined by Deloitte & Touche, independent
certified public accountants, as stated in their opinions also incorporated
herein by reference, and have been so incorporated in reliance upon such
opinions given upon their authority as experts in accounting and auditing.

                             PPG INDUSTRIES, INC.
                                  STOCK PLAN

1.   Purpose

     The purpose of the Plan is to promote the growth and profitability of the
Company and its Subsidiaries by giving Directors and selected Employees an
opportunity to own and to benefit from the growth of the value of the Common
Stock of the Company, thereby (1) providing them with additional incentive to
cause the Company and its Subsidiaries to grow and profit, (2) making their
compensation competitive with opportunities available in competing industries,
and (3) encouraging them to continue in the employ or service of the Company or
a Subsidiary.

2.   Definitions

     (a) "Award" means any Option, Stock Appreciation Right or Restricted Stock
granted under the Plan.

     (b) "Award Agreement" means the written agreement evidencing an Award,
which shall be executed by the Company and the Participant.

     (c) "Award Date" means the date as of which an Award is granted, unless
another date is specified by the Board, the Committee or other person granting
such Award.

                                      -16-
<PAGE>

     (d) "Award Grantor" means the Board, the Committee or the person or persons
to whom the Board or the Committee has delegated authority to grant Awards under
the Plan.

     (e) "Board" means the Board of Directors of the Company.

     (f) "Code" means the Internal Revenue Code of 1986, as amended from time to
time, and the regulations promulgated thereunder.

     (g) "Committee" means the Officers-Directors Compensation Committee (or any
successor) of the Board.

     (h) "Common Stock" means the Common Stock of the Company.

     (i) "Company" means PPG Industries, Inc.

     (j) "Director" means any director of the Company or any of its
Subsidiaries.

     (k) "Eligible Person" means any Director or any Employee.

     (l) "Employee" means any person (including any officer) employed by the
Company or any of its Subsidiaries.

     (m) "Fair Market Value" of a share of Common Stock means the closing sale
price reported for any applicable date on the New York Stock Exchange-Composite
Tape or, if there is no sale on such date, for the nearest preceding date upon
which such a sale took place.

     (n) "Incentive Option" means an Option which qualifies as an "incentive
stock option" as defined in Section 422 of the Code.

     (o) "Nonqualified Option" means an Option which does not qualify as an
Incentive Option.

     (p) "Option" means an option granted hereunder to purchase a specified
number of shares of Common Stock.

     (q) "Optionee" means a Participant who is granted an Option and the
Participant's Successor.

     (r) "Option Price" means the price per share to be paid upon exercise of an
Option for the purchase of shares subject to the Option.

                                      -17-
<PAGE>

     (s) "Option Expiration Date" means the date set forth in the Award
Agreement on which the right to exercise an Option will expire due to lapse of
time.

     (t) "Option Term" means the period during which an Option may be exercised.

     (u) "Restricted Stock" means Common Stock granted pursuant to Section 7 of
the Plan, but any shares of Common Stock shall cease to be Restricted Stock when
the conditions specified in the Award of such Restricted Stock have been
satisfied.

     (v) "Participant" means any Eligible Person who has received an Award under
the Plan.

     (w) "Plan" means the PPG Industries, Inc. Stock Plan, as set forth herein
and as amended from time to time.

     (x) "Stock Appreciation Right" means the right to receive cash or shares of
Common Stock in lieu of exercising an Option, as more fully described in Section
6.

     (y) "Subsidiary" means any corporation fifty percent (50%) or more of the
outstanding voting stock or voting power of which is owned, directly or
indirectly, by the Company and any partnership or other entity in which the
Company has a fifty percent (50%) or more ownership interest.

     (z) "Successor" means the executor or administrator of a Participant's
estate, or that person or persons to whom is transferred, by will or the laws of
descent and distribution, or as otherwise permitted by the Board or Committee
within the terms of the Plan, the right to exercise an Option or Stock
Appreciation Right or the ownership of Restricted Stock.

3.   Administration

     The Board and the Committee shall both have full power and authority
pursuant and subject to the provisions of the Plan:  (1) to determine from time
to time the number and type of Awards; (2) to determine from time to time which
Eligible Persons shall be granted Awards; (3) to determine, with respect to
Options, the number of shares of Common Stock subject to each Option, the Option
Price, the form of payment of the Option Price, the Option Term, whether an
Option shall be an Incentive Option or a Nonqualified Option, whether an Option
shall be accompanied by Stock Appreciation Rights, whether an Option may be
transferred and under what conditions, the form in which Stock Appreciation
Rights may be paid and the terms and conditions upon which Options or Stock
Appreciation Rights may be exercised; (4) to prescribe the provisions to

                                      -18-
<PAGE>

be contained in Award Agreements (which need not be identical); (5) to construe
and interpret the Plan, to establish, amend and revoke rules and regulations
relating to the Plan, and to determine all questions or controversies arising in
the administration or operation of the Plan; and (6) generally, to exercise such
powers and take such actions as the Board or the Committee may deem necessary or
advisable to administer or implement the Plan. Any determination or decision
made or action taken by the Board or the Committee in connection with the Plan
shall be final, conclusive and binding on all persons, including the Company,
its shareholders and Participants. The Board or the Committee may delegate to
another person or persons the right to grant Awards, including the right to
determine whether an Option shall be an Incentive Option or a Nonqualified
Option, to Eligible Persons who are not Directors of the Company or officers of
the Company subject to Section 16 of the Securities Exchange Act of 1934.

4.   Awards

     Awards under the Plan may be made in any of the following forms (or any
combination thereof):  (a) Restricted Stock; (b) Incentive Options; (c)
Nonqualified Options; and (d) Stock Appreciation Rights.

5.   Options

     (a) Options to purchase a specified number of shares of Common Stock at a
specified price may be granted from time to time to those Eligible Persons who
have the ability to make a contribution to the growth and profitability of the
Company or any of its Subsidiaries.  Options granted hereunder may be Incentive
Options or Nonqualified Options.

     (b) The aggregate Fair Market Value (determined as of the time an Incentive
Option is granted) of the Common Stock for which an Eligible Person may be
granted Incentive Options in the calendar year of such grant (under all plans of
the Company or its parent or subsidiary corporations, or a predecessor
corporation of any such corporation, all within the meaning of Section 422 of
the Code) shall not exceed $100,000 plus any unused limit carryover to such year
or such other maximum as may be specified in the Code.  No Incentive Option will
be transferable except by will or by the operation of the laws of descent and
distribution.

     (c) The grant of an Option shall be evidenced by a written Award Agreement
executed by the Company and the Optionee, specifying the number of shares of
Common Stock subject to the Option, the Option Price and the Option Expiration
Date and may contain other provisions, not inconsistent herewith.

                                      -19-
<PAGE>

     (d) The Option Price of each Option shall be as determined by the Board or
the Committee but in no event shall be less than the Fair Market Value of a
share of Common Stock on the Date of Grant.  The Option Price may be paid in
full in the form of cash, shares of Common Stock or a combination of both, as
the Board or the Committee may specify.

     (e) Options may be exercised at such times and in such manner as shall be
prescribed by the Board or the Committee, except that no Option shall be
exercisable under any circumstances more than ten (10) years from the Date of
Grant.

     (f) The Board or the Committee may specify, at the time of grant or, with
respect to Nonqualified Options, at or after the time of grant, that an Optionee
shall be granted a Nonqualified Option (a "Restored Option") in the event that
(i) such Optionee exercises all or part of an Option (an "Original Option") by
surrendering (or certifying ownership of) already owned shares of Common Stock
in full or partial payment of the Option Price under such Original Option and/or
(ii) such Optionee surrenders shares of Common Stock or causes shares of Common
Stock to be withheld to pay withholding taxes in connection with the exercise of
such Original Option.  All Restored Options are subject to the availability of
shares of Common Stock under the Plan at the time of such exercise.  A Restored
Option shall cover a number of shares of Common Stock not greater than the
number of shares of Common Stock surrendered (or to which ownership has been
certified) in payment of the Option Price under such Original Option and/or used
to pay withholding taxes in connection with the exercise of such Original
Option.  Each Restored Option shall have an Option Price equal to the Fair
Market Value of the Common Stock on the Date of Grant of the Restored Option and
shall expire on the Option Expiration Date of the Original Option or such
earlier specific date as the Original Option will expire provided such earlier
date has been established on the Date of Grant of the Restored Option.  The Date
of Grant of a Restored Option shall be the date of exercise of the Original
Option.  A Restored Option shall be exercisable at any time and from time to
time from or after the Date of Grant of the Restored Option (or, as the Board or
the Committee in its sole discretion shall specify in the Award Agreement for
the Restored Option).  An Award Agreement for a Restored Option shall contain
such other terms and conditions, which may include a restriction on the
transferability of the Common Stock received upon the exercise of the Original
Option, as the Board or the Committee in its sole discretion shall deem
desirable and which may be set forth in rules or regulations adopted by the
Board or the Committee or in the Award Agreement evidencing the Restored Option.
Successive Restored Options may be granted to the extent and upon such terms and
conditions consistent with this Section 5(f) as the Board or the Committee in
its sole discretion shall specify.

                                      -20-
<PAGE>

6.   Stock Appreciation Rights

     (a) The Board or the Committee may grant Stock Appreciation Rights with
respect to all or any of the shares of Common Stock subject to an Option.  Stock
Appreciation Rights with respect to an Incentive Option may be granted only on
the Date of Grant of the related Option.  Stock Appreciation Rights with respect
to a Nonqualified Option may be granted either on the Date of Grant of the
related Option or at any time thereafter during the Option Term.

     (b) Stock Appreciation Rights shall entitle the Optionee, upon exercise, to
receive a payment equal to the amount by which the value of a share of Common
Stock exceeds the Option Price, multiplied by the number of shares with respect
to which Stock Appreciation Rights are exercised.  Such value shall be the Fair
Market Value of a share of Common Stock on the date of exercise or, in the
discretion of the Board or the Committee, the average of the Fair Market Values
of a share of Common Stock over such period as the Board or the Committee may
specify.  Such payment may be made in the form of cash, shares of Common Stock
or a combination of both, as the Board or the Committee may specify.

     (c) Stock Appreciation Rights may be exercised in such manner and at such
times as may be prescribed by the Board or the Committee, but only to the extent
the related Option is exercisable.  To the extent Stock Appreciation Rights are
exercised, the related Option shall be deemed to have been exercised.

7.   Restricted Stock

     Restricted Stock may be awarded to any Eligible Person.  An Award of
Restricted Stock may set forth such terms and conditions, including, but not
limited to, forfeiture and vesting provisions and restrictions against sale,
assignment, transfer or other disposition as the Board or the Committee may
determine.  Restricted Stock shall be duly issued and transferred by the Company
on such dates as the Award Grantor may determine, and a certificate for such
Restricted Stock shall be issued to each Participant to whom an award is made.
The Participant shall thereupon become a stockholder of the Company with respect
to such Restricted Stock, and shall be entitled to vote and to receive the
dividends on such stock; provided, however, that:  (1) stock certificates for
Restricted Stock shall be imprinted with a legend to the effect that the stock
represented thereby may not be sold, exchanged, transferred, pledged,
hypothecated or otherwise disposed of except in accordance with the terms of the
Plan, and each transfer agent for the Common Stock shall be instructed to such
effect; and (2) upon the date specified in the grant as the "Award Maturity
Date", unless cancelled earlier by the Board or the Committee, the restrictions
imposed upon the Restricted Stock shall lapse, and the Participant shall be
fully vested in the award.

                                      -21-
<PAGE>

8.   Number of Shares Available for Issuance and Subject to Awards

     (a) From and after April 18, 2002, the maximum number of shares of Common
Stock as to which Awards may be granted is 14 Million and the maximum number of
shares of Common Stock which may be issued under the plan shall be 30.6 Million.
Any shares of Common Stock subject to Awards that are forfeited or unexercised,
to the extent Options remain unexercised at the expiration or termination
thereof or Restricted Stock is forfeited prior to the Award Maturity Date, may
be subject to the grant of further Awards under the Plan.  In addition, shares
of Common Stock that are surrendered (or to which ownership has been certified)
by Participants as full or partial payment to the Company of the purchase price
of shares being acquired through the exercise of an option granted under this
Plan and any shares surrendered by the Participant or withheld by the Company to
pay withholding taxes in connection with the exercise of an Option shall also be
available for issuance and for the grant of Awards under the Plan.  The number
of shares which may be issued under the Plan and as to which Options may be
granted shall be further subject to adjustment in accordance with Section 12.

     (b) In no event, except as subject to adjustment as provided in Section 12,
shall more than two hundred fifty thousand (250,000) shares of Common Stock be
cumulatively available for issuance as Restricted Stock under the Plan.

     (c) The Common Stock to be issued under the Plan may be either authorized
but unissued shares or issued shares acquired by the Company and held in its
treasury.

9.   Government and Other Regulations

     The obligation of the Company to issue or transfer and deliver shares for
Options exercised under the Plan shall be subject to (1) the effectiveness of a
registration statement under the Securities Act of 1933, as amended, with
respect to such issue or transfer, if deemed necessary or appropriate by counsel
for the Company; (2) the condition that the shares of Common Stock authorized to
be issued hereunder shall have been listed (or authorized for listing upon
official notice of issuance) upon each stock exchange on which outstanding
shares of Common Stock may then be listed; and (3) all other applicable laws,
regulations, rules and orders which shall then be in effect.

10.  Limit on Awards

     More than one Award may be granted to a Participant, but except as subject
to adjustment as provided in Section 12 the aggregate number of shares of Common
Stock subject to Awards granted to any Participant after April 18, 2002 may not
exceed two million (2,000,000) shares.

                                      -22-
<PAGE>

11.  No Right to Employment

     Neither the existence of the Plan nor the grant of any Award pursuant to
the Plan shall create in any Participant or Eligible Person the right to
continue to be employed by or to continue as a Director of the Company or a
Subsidiary.

12.  Adjustments Upon Changes in Capitalization

     In the event of any change in the number of outstanding shares of Common
Stock by reason of any stock dividend, stock split or similar change, a
corresponding change shall be made in the numbers, and Option Prices, of shares
subject to outstanding Awards, and in the maximum number of shares which then
remain available for issuance, and in the number of shares of Restricted Stock
which then remain available for issuance under the Plan and the limits as to
Awards to individual Eligible Persons.  In the event of any change in the
outstanding shares of Common Stock, or in the number thereof, by reason of any
merger, consolidation, combination, sale of assets, exchange of shares,
recapitalization, reorganization, spin-off or similar change, the Board or the
Committee may make such changes in the shares, and in the numbers or Option
Prices of shares, subject to outstanding Awards, and in the maximum number of
shares which may be issued under the Plan, and in the number of shares of
Restricted Stock which may have been issued, as the Board or the Committee may
deem to be equitable.  No such change, without the consent of a Participant may
adversely affect the rights of such Participant with respect to an Award
previously granted, and any such change shall be final, conclusive and binding
on all persons, including the Company, its shareholders and Participants.

13.  Amendment and Termination

     The Board may amend, suspend or terminate the Plan, in whole or in part, at
any time, but no amendment may, without shareholder approval, (1) increase the
maximum number of shares which may be issued and for which Awards may be granted
under the Plan, either in the aggregate or to any individual Participant; (2)
change the manner of determining the minimum Option Price, other than to change
the manner of determining the Fair Market Value of the Common Stock to conform
to any then-applicable provision of the Code; (3) extend the date upon which the
Plan shall terminate; or (4) increase the maximum period during which Options
may be exercised hereunder.  The Plan shall terminate on, and no Award may be
granted after, December 31, 2007, or on such earlier date as may be determined
by the Board.  No amendment, suspension or termination of the Plan may affect
adversely, without the consent of the Participant, the rights of such
Participant with respect to an Award previously granted.

                                      -23-
<PAGE>

14.  Effective Date

     Subject to its approval by the shareholders of the Company, the Plan shall
be effective as of April 18, 2002.

                                      -24-

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