Document:

Exhibit 10m-4

    Exhibit
      10m-4

    As
      of
      March 31, 2006       

    

    Rogers
      Corporation

    One
      Technology Drive

    Rogers,
      Connecticut 06263

    

    Attn: Robert
      M. Soffer

     

    

    Re: Multicurrency
      Revolving
      Credit Agreement - Fourth Amendment

    

    Dear
      Mr. Soffer:

     

    Reference
      is hereby made to that certain Multicurrency Revolving Credit Agreement dated
      as
      of December 8, 2000 by and among Rogers Corporation (the “Borrower”),
      each
      of the Banks listed on Schedule 1 thereto including Bank of America, N.A.,
      a
      national banking association, as successor by merger to Fleet National Bank
      (the
“Banks”)
      and
      Bank of America, N.A., successor by merger to Fleet National Bank, as Agent
      (the
“Agent”),
      as
      amended from time to time (as amended, the "Credit
      Agreement").
      Capitalized terms which are used herein without definition and which are defined
      in the Credit Agreement shall have the same meanings herein as in the Credit
      Agreement. 

     

    The
      Borrower has requested that the Banks amend Section 7.4(a) of the Credit
      Agreement, and this letter is to confirm that the Borrower and the Banks have
      agreed to amend, and such Section is hereby amended and restated in its entirety
      to read as follows:

     

    “(a)
      as
      soon as practicable, but in any event not later than ninety (90) days after
      the
      end of each fiscal year of the Borrower, the consolidated balance sheet of
      the
      Borrower and its Subsidiaries, as at the end of such year, and the related
      consolidated statement of income and consolidated statement of cash flow for
      such year, each setting forth in comparative form the figures for the previous
      fiscal year and all such consolidated statements to be in reasonable detail,
      prepared in accordance with generally accepted accounting principles, and
      certified without qualification (other than a qualification regarding changes
      in
      generally accepted accounting principles) by Ernst & Young LLP or by other
      independent certified public accountants satisfactory to the Agent, together
      with a written statement from such accountants to the effect that they have
      examined the relevant sections of this Credit Agreement, and that, in making
      the
      examination necessary to said certification, they have obtained no knowledge
      of
      any Default or Event of Default under §9 of this Credit Agreement, or, if such
      accountants shall have obtained knowledge of any then existing Default or Event
      of Default under any of such sections they shall disclose in such statement
      any
      such Default or Event of Default; provided
      that such accountants shall not be liable to the Banks for failure to obtain
      knowledge of any Default or Event of Default;”

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    Except
      as
      expressly amended by this letter agreement, all terms, conditions and covenants
      contained in the amended Credit Agreement are hereby ratified and shall be
      and
      remain in full force and effect.

     

    This
      letter agreement shall become effective as of the date first written
      above. This
      letter supersedes any and all of our prior communications among the parties
      hereto, if any, regarding the subject of this letter, except as to prior
      amendments to the Credit Agreement and except for the March 24, 2006 waiver
      granted by the Banks to the Borrower relative to the Credit Agreement which
      shall be and shall remain in full force and effect.

     

    THIS
      LETTER AGREEMENT SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, AND THE
      RIGHTS OF THE PARTIES SHALL BE GOVERNED BY, THE LAW OF THE COMMONWEALTH OF
      MASSACHUSETTS EXCLUDING CHOICE-OF-LAW PRINCIPLES OF THE LAW OF SUCH STATE THAT
      WOULD REQUIRE THE APPLICATION OF THE LAWS OF A JURISDICTION OTHER THAN
      MASSACHUSETTS. 

    

    This
      letter agreement may be executed in any number of counterparts, but all such
      counterparts shall together constitute but one instrument. Execution of this
      letter agreement by any of the parties may be evidenced by way of a faxed
      transmission of such party’s signature and such faxed signature shall be deemed
      to constitute the original signature of such party to this letter
      agreement.

    

     

    [Remainder
      of page intentionally blank. Next page is signature page.]

     

    
      
        2

      

      
         

        
          

        

      

      
         

      

    

     

    If
      the
      foregoing is in accordance with your understanding, please confirm your
      agreement to the amendment set forth herein by signing this letter in the space
      indicated below. 

     

    
      
        	 	
                Very
                  Truly Yours,

              	 	 
	 	 	 	 
	 	
                BANK
                  OF AMERICA, N.A. 

              	 	 
	 	
                Individually
                  and as Agent

              	 	 
	 	 	 	 
	 	 	 	 
	 	
                BY:
                  

              	/s/
                Matthew E. Hummel
	 	 	Name:
                Matthew E. Hummel
	 	 	Title:
                Senior Vice President
	 	 	 	 
	 	 	 	 
	 	
                CITIZENS
                  BANK OF CONNECTICUT 

              
	 	 	 	 
	 	 	 	 
	 	
                BY:
                  

              	 
	 	 	Name:
	 	 	Title:

      

    

     

    
      
        3

      

      
         

        
          

        

      

      
         

      

    

    

    

    
       

      
        
          	 	
                  Very
                    Truly Yours,

                	 	 
	 	 	 	 
	 	
                  BANK
                    OF AMERICA, N.A. 

                	 	 
	 	
                  Individually
                    and as Agent

                	 	 
	 	 	 	 
	 	 	 	 
	 	
                  BY:
                    

                	 
	 	 	Name:
	 	 	Title:
                  
	 	 	 	 
	 	 	 	 
	 	
                  CITIZENS
                    BANK OF CONNECTICUT 

                
	 	 	 	 
	 	 	 	 
	 	
                  BY:
                    

                	/s/
                  Patricia D. Donnelly
	 	 	Name:
                  Patricia D. Donnelly
	 	 	Title:
                  Vice President

        

         

        

          [Signature
            Page to Fourth Amendment to Rogers Credit Agreement]

        

         

      

    

    
      
        4

      

      
         

        
          

        

      

      
         

      

    

     

    

      
        	
                Accepted
                  and Agreed:

              
	
                ROGERS
                  CORPORATION

              
	 	 	 
	 	 	 
	
                By: 

              	 	
                /s/
                  Robert M. Soffer

              
	
              	 	
                
                  Name:
                    Robert M. Soffer

                

              
	
              	 	
                
                  Title:
                    Vice President, Treasurer and Secretary

                

              
	
              	 	 
	 	 	 
	
                Guarantors:

              	 	 
	 	 	 
	
                ROGERS
                  L-K CORP.

              
	 	 	 
	 	 	 
	
                By: 

              	 	
                /s/
                  Robert M. Soffer

              
	 	 	
                Name:
                  Robert M. Soffer

              
	 	 	
                Title:
                  Vice President, Treasurer and

              
	 	 	
                Secretary

              
	 	 	 
	
                TL
                  PROPERTIES, INC.

              
	 	 	 
	 	 	 
	
                By:

              	 	
                 /s/
                  Robert M. Soffer

              
	 	 	
                Name:
                  Robert M. Soffer

              
	 	 	
                Title:
                  Vice President, Treasurer and

              
	 	 	
                Secretary

              
	 	 	 
	
                ROGERS
                  SPECIALTY MATERIALS 

              
	
                CORPORATION

              	 	 
	 	 	 
	 	 	 
	
                By: 

              	 	
                /s/
                  Robert M. Soffer

              
	 	 	
                Name:
                  Robert M. Soffer

              
	 	 	
                Title:
                  Vice President, Treasurer and

              
	 	 	
                Secretary

              
	 	 	 
	
                ROGERS
                  JAPAN INC.

              
	 	 	 
	 	 	 
	
                By: 

              	 	
                /s/
                  Robert M. Soffer

              
	 	 	
                Name:
                  Robert M. Soffer

              
	 	 	
                Title:
                  Vice President, Treasurer and

              
	 	 	
                Secretary

              

      

    

     

    [Signature
      Page to Fourth Amendment to Rogers Credit Agreement]

     

    
      
        5

      

      
         

        
          

        

      

      
         

      

    

     

    

      
        	
                ROGERS
                  SOUTHEAST ASIA, INC.

              
	 	 	 
	 	 	 
	
                By: 

              	 	
                /s/
                  Robert M. Soffer

              
	 	 	
                Name:
                  Robert M. Soffer

              
	 	 	
                Title:
                  Vice President, Treasurer and

              
	 	 	
                Secretary

              
	 	 	 
	
                ROGERS
                  TAIWAN, INC.

              
	 	 	 
	 	 	 
	
                By: 

              	 	
                /s/
                  Robert M. Soffer

              
	 	 	
                Name:
                  Robert M. Soffer

              
	 	 	
                Title:
                  Vice President, Treasurer and

              
	 	 	
                Secretary

              
	 	 	 
	
                ROGERS
                  KOREA, INC.

              
	 	 	 
	 	 	 
	
                By: 

              	 	
                /s/
                  Robert M. Soffer

              
	 	 	
                Name:
                  Robert M. Soffer

              
	 	 	
                Title:
                  Vice President, Treasurer and

              
	 	 	
                Secretary

              
	 	 	 
	 	 	 
	
                ROGERS
                  TECHNOLOGIES 

              
	
                SINGAPORE,
                  INC.

              
	 	 	 
	 	 	 
	
                By: 

              	 	
                /s/
                  Robert M. Soffer

              
	 	 	
                Name:
                  Robert M. Soffer

              
	 	 	
                Title:
                  Vice President, Treasurer and

              
	 	 	
                Secretary

              
	 	 	 
	 	 	 
	
                ROGERS
                  CIRCUIT MATERIALS 

              
	
                INCORPORATED

              	 	 
	 	 	 
	 	 	 
	
                By: 

              	 	
                /s/
                  Robert M. Soffer

              
	 	 	
                Name:
                  Robert M. Soffer

              
	 	 	
                Title:
                  Vice President, Treasurer and

              
	 	 	
                Secretary

              

      

    

     

    [Signature
      Page to Fourth Amendment to Rogers Credit Agreement]

     

    
      
        6

      

      
         

        
          

        

      

      
         

      

    

     

    
      
        	
                ROGERS
                  CHINA, INC.

              
	 	 	 
	 	 	 
	
                By: 

              	 	
                /s/
                  Robert M. Soffer

              
	 	 	
                Name:
                  Robert M. Soffer

              
	 	 	
                Title:
                  Vice President, Treasurer and

              
	 	 	
                Secretary

              
	 	 	 
	 	 	 
	
                ROGERS
                  KF, INC.

              
	 	 	 
	 	 	 
	
                By: 

              	 	
                /s/
                  Robert M. Soffer

              
	 	 	
                Name:
                  Robert M. Soffer

              
	 	 	
                Title:
                  Vice President, Treasurer and

              
	 	 	
                Secretary

              

      

    

     

    
      [Signature
        Page to Fourth Amendment to Rogers Credit Agreement]

       

      
        
          7Exhibit 10r-5

    Exhibit
      10r-5

     

    AMENDMENT
      NO. 5 TO SUMMARY OF DIRECTOR AND EXECUTIVE OFFICER COMPENSATION

     

    As
      of May
      12, 2006

     

    Summary
      of
      Director and Executive Officer Compensation, amended as of May 9, 2005, August
      10, 2005, February 22, 2006 and March 31, 2006, is hereby further
      amended:

     

    I.
      DIRECTOR COMPENSATION. 

    

    The
      following table sets forth the rates of compensation for non-employee directors
      that became effective on April 1, 2006.

     

    Annual
      Retainer

    

    
      	
              Audit
                Committee Chairperson* 

            	 	
              $

            	
              45,000

            	 
	
              Compensation
                and Organization Committee Chairperson 

            	 	
              $

            	
              42,500

            	 
	
              Lead
                Director* 

            	 	
              $

            	
              50,000

            	 
	
              Nominating
                and Governance Committee Chairperson 

            	 	
              $

            	
              40,000

            	 
	
              Finance
                Committee Chairperson 

            	 	
              $

            	
              40,000

            	 
	
              Safety
                and Environment

              Committee
                Chairperson 

            	 	
              $

            	
              38,500

            	 
	
              Each
                Other Non-Employee Director 

            	 	
              $

            	
              35,000

            	 

    

     

    *
      Robert
      G. Paul, who is Chairperson of the Audit Committee as well as Lead

    Director,
      on an annualized basis, receives an annual retainer of $60,000 ($35,000 as
      a
      Non-Employee Director, an additional $10,000 as Chairperson of the Audit
      Committee, and an additional $15,000 as Lead Director).

    

    Board
      Meeting Attendance Fees

    

    Non-Employee
      Directors $1,500

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
Committee
      Meeting Attendance Fees

     

    
      	
              Committee
                Chairpersons 

            	 	
              $

            	
              1,500

            	 
	
              Committee
                Members 

            	 	
              $

            	
              1,000

            	 
	
               

            	 	 	

            	 
	
              Telephone
                Meetings 

            	 	 	
              50%
                of the fee entitled had the meeting been held in person

            	 

    

     

    Under
      the
      2005 Equity Compensation Plan (the “2005 Plan”), the annual retainer for
      non-employee directors is paid semi-annually in shares of Rogers Corporation
      (“Rogers”) capital stock, with the number of shares of stock granted based on
      their then fair market value (pro-rated to reflect directors joining the Board
      after the beginning of the year, as in the case of Carol R. Jensen, who joined
      the Board in February 2006). Stock options are also granted to each non-employee
      director twice a year. Currently, such semi-annual stock option grants are
      for
      2,250 shares (also pro-rated, as in the case of Ms. Jensen) each with an
      exercise price equal to the fair market value of a share of Rogers capital
      stock
      as of the date of grant. Such options are immediately exercisable and expire
      ten
      years from the date of grant.

    

    On
      a
      yearly basis, non-employee directors can choose whether to receive their meeting
      fees in cash, stock or a combination thereof. In addition, under Rogers
      Voluntary Deferred Compensation Plan for Non-Employee Directors, such
      individuals may elect to defer all or a portion of their annual retainer and
      meeting fees, regardless of whether such amounts would have been paid in cash
      or
      in Rogers capital stock.

    

    For
      2006,
      certain of Rogers' non-employee directors made the following
      elections:

    

    Eileen
      S.
      Kraus: Receive meeting fees in Rogers stock on a current basis.

    

    Gregory
      B.
      Howey: Defer receipt of Rogers stock for the annual retainer. Receive meeting
      fees in Rogers stock, but defer receipt.

    

    William
      E.
      Mitchell: Defer receipt of Rogers stock for the annual retainer.

    

    Rogers'
      other non-employee directors, Leonard M. Baker, Charles M. Brennan, III, Walter
      E. Boomer, Edward L. Diefenthal, Leonard R. Jaskol, Carol R. Jensen, and Robert
      G. Paul by not making any special election, will receive Rogers stock for the
      annual retainer on a current basis (as will Ms. Kraus) and will receive their
      meeting fees in cash on a current basis (as will Mr. Mitchell).

     

    
      
        2

      

      
         

        
          

        

      

      
         

      

    

    

    II.
      EXECUTIVE COMPENSATION. 

    

    The
      following table sets forth the base salaries provided to the current executive
      officers of Rogers as of the dates shown below.

     

    
      	
              Executive
                Officer  

            	 	
              Annual
                Salary 4/1/05

            	 	
              Annual
                Salary

              3/20/06

            	 	
              Annual
                Salary

              Effective
                5/29/06 (2)

            	 
	
               

            	 	
               

            	 	
               

            	 	 	 
	
              Robert
                D. Wachob 

            	 	
              $

            	
              416,338

            	 	
              $

            	
              433,004

            	 	
              $

            	
              433,004

            	 
	
              President
                and Chief Executive Officer

            	 	 	

            	 	 	

            	 	 	 	 
	
               

            	 	 	

            	 	 	

            	 	 	 	 
	
              Dennis
                M. Loughran 

            	 	 	

            	 	 	

            	 	 	 	 
	
              Vice
                President Finance and Chief Financial Officer

            	 	 	
              N.A.
                (1

            	
              )

            	
              $

            	
              260,000

            	 	
              $

            	
              260,000

            	 
	 	 	 	

            	 	 	

            	 	 	 	 
	
               

            	 	 	

            	 	 	

            	 	 	 	 
	
              Robert
                C. Daigle 

            	 	
              $

            	
              214,006

            	 	
              $

            	
              224,718

            	 	
              $

            	
              225,524

            	 
	
              Vice
                President, R&D

            	 	 	

            	 	 	

            	 	 	 	 
	
              Chief
                Technology Officer

            	 	 	

            	 	 	

            	 	 	 	 
	
               

            	 	 	

            	 	 	

            	 	 	 	 
	
              John
                A. Richie 

            	 	
              $

            	
              190,762

            	 	
              $

            	
              198,380

            	 	
              $

            	
              201,032

            	 
	
              Vice
                President, Human 

              Resources

            	 	 	

            	 	 	

            	 	 	 	 
	
               

            	 	 	

            	 	 	

            	 	 	 	 
	
              Robert
                M. Soffer 

            	 	
              $

            	
              181,584

            	 	
              $

            	
              188,838

            	 	
              $

            	
              193,362

            	 
	
              Vice
                President, Treasurer and 

              Secretary

            	 	 	

            	 	 	

            	 	 	 	 
	
               

            	 	 	

            	 	 	

            	 	 	 	 
	
              Paul
                B. Middleton 

            	 	
              $

            	
              178,126

            	 	
              $

            	
              185,250

            	 	
              $

            	
              186,056

            	 
	
              Corporate
                Controller

            	 	 	

            	 	 	

            	 	 	 	 

    

     

    (1)
      Mr.
      Loughran was appointed Vice President Finance and Chief Financial Officer
      effective February 1, 2006.

    

    (2)
      Effective May 29, 2006, the annual base salaries of Messrs. Daigle, Richie,
      Soffer and Middleton will be increased in order to offset a decrease in their
      automobile and gasoline allowance.

     

    Executive
      Officers are also eligible to receive a bonus each year under the Rogers Annual
      Incentive Compensation Plan. The Annual Incentive Compensation Plan has target
      bonuses of 60% to 75% of base salary for the CEO, and between 25% and 45% for
      the other executive officers, including the other current executive officers.
      Actual bonuses may vary from 0% to 300% of the target bonuses depending on
      performance relative to annual profit improvement objectives. These amounts
      are
      determined by the performance of Rogers (Net Income Per Share) and each division
      (Division Profit) versus the annual objectives. In general, the broader the
      responsibility of the executive, the larger the portion of his or her award
      which is based upon corporate, rather than divisional results; the corporate
      portion is 100% of the consideration for the current executive officers. For
      2005, overall corporate performance did not exceed last year’s results, which is
      the bonus threshold, and, as a result, none of the current executive officers
      received a bonus. However, Mr. Middleton received a 2005 $20,000 bonus for
      his
      work as Acting Chief Financial Officer.

     

    
      
        3

      

      
         

        
          

        

      

      
         

      

    

    
III.
      A.
      EXECUTIVE OFFICER STOCK OPTION GRANTS. 

    

    Executive
      officers of Rogers are eligible to receive stock option grants each year, based
      on the individual's level in the organization, the same performance criteria
      used to determine salary adjustments, the number of shares granted in prior
      years and the total number of shares available for grants. These criteria are
      not weighted. Options generally have an exercise price equal to at least the
      fair market value of the Rogers stock as of the date of grant. Regular options
      generally have a ten-year life and generally vest in one-third increments on
      the
      second, third and fourth anniversary dates of the grant. Options granted to
      these executives in 2005 had a special vesting schedule and selling restriction.
      All such 2005 options were immediately vested upon grant, but any options
      exercised during the first four years after the grant date cannot be sold while
      the individual is still actively employed by Rogers. Termination of employment
      because of retirement, or for other reasons, may shorten the vesting schedule
      and expiration date. 

    

    Option
      grants made to current executive officers in 2005 are as shown in
      the

    following
      table:

     

    
      	
              Executive
                Officer

            	 	
               2005
                Option Grants (1)

              (in
                shares)

            	 
	
               

            	 	
               

            	 
	
              Robert
                D. Wachob 

            	 	 	
              40,000

            	 
	
              President
                and Chief Executive Officer

            	 	 	

            	 
	
               

            	 	 	

            	 
	
              Dennis
                M. Loughran

            	 	 	
              N.A.
                (2

            	
              )

            
	
              Vice
                President Finance and

            	 	 	

            	 
	
              Chief
                Financial Officer

            	 	 	

            	 
	
               

            	 	 	

            	 
	
              Robert
                C. Daigle 

            	 	 	
              17,000

            	 
	
              Vice
                President, R&D

            	 	 	

            	 
	
              Chief
                Technology Officer

            	 	 	

            	 
	
               

            	 	 	

            	 
	
              John
                A. Richie 

            	 	 	
              17,000

            	 
	
              Vice
                President, Human Resources

            	 	 	

            	 
	
               

            	 	 	

            	 
	
              Robert
                M. Soffer 

            	 	 	
              12,000

            	 
	
              Vice
                President, Treasurer and Secretary

            	 	 	

            	 
	
               

            	 	 	

            	 
	
              Paul
                B. Middleton 

            	 	 	
              12,000

            	 
	
              Corporate
                Controller

            	 	 	

            	 

    

     

    
      
        4

      

      
         

        
          

        

      

      
         

      

    

     

    (1)
      The
      exercise price of all options was $34.83 per share.

     

    (2)
      Mr.
      Loughran was appointed Vice President Finance and Chief Financial Officer
      effective February 1, 2006.

    

    On
      either
      February 15 or 16, 2006, the Compensation and Organization Committee of the
      Board of Directors approved grants of stock options for the following executive
      officers:

    

    
      	
              Executive
                Officer  

            	 	
              Number
                of Shares in 

              Non-Qualified
                

              Stock
                Option Grant 

            	 	
              Number
                of Shares 

              in
                Incentive 

              Stock
                Option Grant

            	 
	
               

            	 	
               

            	 	
               

            	 
	
              Robert
                D. Wachob 

            	 	 	
              33,500
                

            	 	 	
              4,000

            	 
	
              President
                and Chief Executive

            	 	 	

            	 	 	

            	 
	
              Officer

            	 	 	

            	 	 	

            	 
	
               

            	 	 	

            	 	 	

            	 
	
              Dennis
                M. Loughran

            	 	 	
              9,000

            	 	 	
              6,000

            	 
	
              Vice
                President Finance and

            	 	 	

            	 	 	

            	 
	
              Chief
                Financial Officer

            	 	 	

            	 	 	

            	 
	
               

            	 	 	

            	 	 	

            	 
	
              Robert
                C. Daigle 

            	 	 	
              2,600
                

            	 	 	
              6,000

            	 
	
              Vice
                President, R&D

            	 	 	

            	 	 	

            	 
	
              Chief
                Technology Officer

            	 	 	

            	 	 	

            	 
	
               

            	 	 	

            	 	 	

            	 
	
              John
                A. Richie 

            	 	 	
              1,900
                

            	 	 	
              6,000

            	 
	
              Vice
                President, Human Resources

            	 	 	

            	 	 	

            	 
	
               

            	 	 	

            	 	 	

            	 
	
              Robert
                M. Soffer 

            	 	 	
              0
                

            	 	 	
              5,750

            	 
	
              Vice
                President, Treasurer and

            	 	 	

            	 	 	

            	 
	
              Secretary

            	 	 	

            	 	 	

            	 
	
               

            	 	 	

            	 	 	

            	 
	
              Paul
                B. Middleton 

            	 	 	
              0
                

            	 	 	
              5,750

            	 
	
              Corporate
                Controller

            	 	 	

            	 	 	

            	 

    

     

    All
      of the
      above non-qualified stock options and incentive stock options to purchase,
      for
      up to ten years (unless previously terminated), shares of common stock, were
      granted at an exercise price of $48.00 per share, except in the case of Mr.
      Wachob, whose exercise price was $47.98 per share. The options granted to
      Messrs. Loughran, Daigle, Middleton, Richie and Soffer vest in one-third
      increments on the second, third and fourth anniversary of the grant date,
      February 15, 2006. The options granted to Mr. Wachob vest as follows: (i) the
      incentive stock option vests as to 2,000 shares on February 16, 2009 and 2,000
      shares on February 16, 2010; and (ii) the non-qualified stock option vests
      as to
      12,500 shares on February 16, 2008, 10,500 shares on February 16, 2009, and
      10,500 shares on February 16, 2010. Collectively, Mr. Wachob's incentive stock
      options and non-qualified stock options vest in one-third increments.

     

    
      
        5

      

      
         

        
          

        

      

      
         

      

    

     

    III.
      B.
      EXECUTIVE OFFICER RESTRICTED STOCK GRANTS.

     

    As
      of
      April 28, 2005, executive officers became eligible to receive various types
      of
      equity awards including, but not limited to, restricted stock
      grants.

    

    On
      February 15, 2006, Dennis M. Loughran, Rogers’ Vice President Finance and Chief
      Financial Officer, was awarded 2,500 shares of restricted Common Stock, at
      a
      purchase price of $0 and which vest completely on the third anniversary date
      of
      the grant.

    

    On
      March
      16, 2006, the Compensation and Organization Committee (the “Committee”) of the
      Board of Directors approved awards of restricted stock to certain executive
      officers (the "2006 Awards"). The 2006 Awards are subject to the achievement
      of
      a pre-established performance goal relating to the cumulative annual growth
      in
      earnings per share of Rogers capital stock during fiscal years 2006, 2007 and
      2008 as set by the Committee. No shares of restricted stock will be issued
      unless and until such performance goal is met. The 2006 Awards will vest
      pursuant to the performance goal established for the 2006 Awards. 

    

    The
      2006
      Awards were granted to the following executive officers:

     

    
      	
              Executive
                Officer 

            	 	
              Target
                Number of Shares

            	 
	
               

            	 	
               

            	 
	
              Robert
                D. Wachob 

            	 	 	
              7,000

            	 
	
              President
                and Chief Executive Officer

            	 	 	

            	 
	
               

            	 	 	

            	 
	
              Robert
                C. Daigle 

            	 	 	
              1,600

            	 
	
              Vice
                President, R&D

            	 	 	

            	 
	
              Chief
                Technology Officer

            	 	 	

            	 
	
               

            	 	 	

            	 
	
              John
                A. Richie 

            	 	 	
              1,450

            	 
	
              Vice
                President, Human Resources

            	 	 	

            	 
	
               

            	 	 	

            	 
	
              Robert
                M. Soffer 

            	 	 	
              1,050

            	 
	
              Vice
                President, Treasurer and

            	 	 	

            	 
	
              Secretary

            	 	 	

            	 
	
               

            	 	 	

            	 
	
              Paul
                B. Middleton 

            	 	 	
              1,050

            	 
	
              Corporate
                Controller 

            	 	 	

            	 

    

     

    The
      exact
      number of shares of restricted stock that will be issued to each of the
      executive officers listed above will depend upon where the actual performance
      achieved during fiscal years 2006, 2007 and 2008 falls on a performance scale
      set by the Committee, which ranges from 0% to 200% of the target number of
      shares specified above.

     

    
      
        6

      

      
         

        
          

        

      

      
         

      

    

    
IV.
      RETIREMENT PLANS. 

    

    Rogers
      also maintains the Rogers Corporation Defined Benefit Pension Plan (the "Pension
      Plan"), for which the current executive officers are eligible. The Pension
      Plan
      Table below reflects estimated annual benefits payable at age 65, the normal
      retirement age, at various compensation levels and years of service pursuant
      to
      Rogers' non-contributory defined benefit pension plans for domestic salaried
      employees.

    

    Annual
      Pension Benefits (1) (2) 

     

    
      	 	 	
              Final
                Average

            	 	
              Years
                of Service

            	 
	 	 	
              Earnings
                (3)

            	 	
              5
                years

            	 	
              10
                years

            	 	
              15
                years

            	 	
              20
                years

            	 	
              25
                years

            	 	
              30
                years

            	 
	 	 	
               

            	 	
               

            	 	
               

            	 	
               

            	 	
               

            	 	
               

            	 	
               

            	 
	 	 $	
              125,000

            	 	
              $

            	
              9,980

            	 	
              $

            	
              19,950

            	 	
              $

            	
              29,930

            	 	
              $

            	
              39,910

            	 	
              $

            	
              49,880

            	 	
              $

            	
              59,860

            	 
	 	 	
              150,000
                

            	 	 	
              12,160
                

            	 	 	
              24,330
                

            	 	 	
              36,490
                

            	 	 	
              48,660
                

            	 	 	
              60,820
                

            	 	 	
              72,980
                

            	 
	 	 	
              175,000
                

            	 	 	
              14,350
                

            	 	 	
              28,700
                

            	 	 	
              43,050
                

            	 	 	
              57,410
                

            	 	 	
              71,760
                

            	 	 	
              86,110
                

            	 
	 	 	
              200,000
                

            	 	 	
              16,540
                

            	 	 	
              33,080
                

            	 	 	
              49,620
                

            	 	 	
              66,160
                

            	 	 	
              82,700
                

            	 	 	
              99,230
                

            	 
	 	 	
              225,000
                

            	 	 	
              18,730
                

            	 	 	
              37,450
                

            	 	 	
              56,180
                

            	 	 	
              74,910
                

            	 	 	
              93,630
                

            	 	 	
              112,360
                

            	 
	 	 	
              250,000
                

            	 	 	
              20,910
                

            	 	 	
              41,830
                

            	 	 	
              62,740
                

            	 	 	
              83,660
                

            	 	 	
              104,570
                

            	 	 	
              125,480
                

            	 
	 	 	
              275,000
                

            	 	 	
              23,100
                

            	 	 	
              46,200
                

            	 	 	
              69,300
                

            	 	 	
              92,410
                

            	 	 	
              115,510
                

            	 	 	
              138,610
                

            	 
	 	 	
              300,000
                

            	 	 	
              25,290
                

            	 	 	
              50,580
                

            	 	 	
              75,870
                

            	 	 	
              101,160
                

            	 	 	
              126,450
                

            	 	 	
              151,730
                

            	 
	 	 	
              325,000
                

            	 	 	
              27,480
                

            	 	 	
              54,950
                

            	 	 	
              82,430
                

            	 	 	
              109,910
                

            	 	 	
              137,380
                

            	 	 	
              164,860
                

            	 
	 	 	
              350,000
                

            	 	 	
              29,660
                

            	 	 	
              59,330
                

            	 	 	
              88,990
                

            	 	 	
              118,660
                

            	 	 	
              148,320
                

            	 	 	
              177,980
                

            	 
	 	 	
              375,000
                

            	 	 	
              31,850
                

            	 	 	
              63,700
                

            	 	 	
              95,550
                

            	 	 	
              127,410
                

            	 	 	
              159,260
                

            	 	 	
              191,110
                

            	 
	 	 	
              400,000
                

            	 	 	
              34,040
                

            	 	 	
              68,080
                

            	 	 	
              102,120
                

            	 	 	
              136,160
                

            	 	 	
              170,200
                

            	 	 	
              204,230
                

            	 
	 	 	
              425,000
                

            	 	 	
              36,230
                

            	 	 	
              72,450
                

            	 	 	
              108,680
                

            	 	 	
              144,910
                

            	 	 	
              181,130
                

            	 	 	
              217,360
                

            	 
	 	 	
              450,000
                

            	 	 	
              38,410
                

            	 	 	
              76,830
                

            	 	 	
              115,240
                

            	 	 	
              153,660
                

            	 	 	
              192,070
                

            	 	 	
              230,480
                

            	 
	 	 	
              475,000
                

            	 	 	
              40,600
                

            	 	 	
              81,200
                

            	 	 	
              121,800
                

            	 	 	
              162,410
                

            	 	 	
              203,010
                

            	 	 	
              243,610
                

            	 
	 	 	
              500,000
                

            	 	 	
              42,790
                

            	 	 	
              85,580
                

            	 	 	
              128,370
                

            	 	 	
              171,160
                

            	 	 	
              213,950
                

            	 	 	
              256,730
                

            	 

    

     

    
      	
              (1)  

            	
              Benefits
                are calculated on a single life annuity basis. 

            
	
               (2)  

            	
              Federal
                law limits the amount of benefits payable under tax-qualified plans,
                such
                as the Rogers Corporation Defined Benefit Pension Plan. Rogers has
                adopted
                a non-qualified retirement plan (the “Pension Restoration Plan”) for: (i)
                the payment of amounts to all plan participants who may be affected
                by
                such federal benefit limitations and other plan provisions; and (ii)
                the
                payment of supplemental amounts to certain senior executives specified
                by
                the Compensation and Organization Committee of the Board of Directors.
                In
                general, the total pension benefit due an individual will be actuarially
                equivalent to the amount calculated under Rogers’ qualified pension plan
                as if such federal benefit limitations did not exist, as if covered
                compensation included amounts deferred under a deferral plan, and
                for
                certain senior executives specified by the Compensation and Organization
                Committee of the Board of Directors, as if covered compensation included
                bonuses paid on or after January 1, 2004, as described in footnote
                3
                below. Accordingly, the benefits shown have not been reduced by such
                limitations or provisions.

            
	
              (3)  

            	
              Final
                average earnings is the average of the highest consecutive five of
                the
                last ten years’ annual earnings as of June 1 of each year. Covered
                compensation includes only salary, whether or not deferred under
                a
                deferral plan, and for certain senior executives over age 55 that
                have
                been specified by the Compensation and Organization Committee of
                the Board
                of Directors, including Messrs. Wachob, Richie, and Soffer, covered
                compensation under the Pension Restoration Plan also includes bonuses
                paid
                on or after January 1, 2004, and will include bonuses paid before
                January
                1, 2004 in the event of their death, disability, or termination of
                employment that results in the payment of severance. If there is
                a change
                in control of Rogers, covered compensation under the Pension Restoration
                Plan for these senior executives and for certain additional senior
                executives that have been specified by the Compensation and Organization
                Committee of the Board of Directors will also include bonuses paid
                before
                January 1, 2004. If there is a change in control of Rogers, the Pension
                Restoration Plan provides that benefits payable under such plan shall
                be
                reduced to an amount so that such benefits would not constitute so-called
                “excess parachute payments” under applicable provisions of the Internal
                Revenue Code of 1986. As of January 1, 2006, the five-year average
                earnings for Messrs. Wachob, Daigle, Richie and Soffer, and their
                estimated years of credited service are: Mr. Wachob, $341,271 and
                23
                years; Mr. Daigle, $186,857 and 18 years; Mr. Richie, $173,768 and
                28
                years and Mr. Soffer, $166,728 and 27 years. As of January 1, 2006,
                in the
                case of Mr. Middleton, earnings for calculating his pension would
                currently be based on average earnings of $164,652 and four years
                of
                service.

            

    

     

    
      
        7

      

      
         

        
          

        

      

      
         

      

    

     

    V.
      TERMINATION OF EMPLOYMENT AND CHANGE OF CONTROL ARRANGEMENTS.

    

    Rogers’
      severance policy for regular, full-time salaried employees provides, in general,
      for continuation of salary payments, health insurance and certain other benefits
      for employees whose employment has been involuntarily terminated. The number
      of
      weeks of salary and benefits continuance is based on length of service. The
      policy may be amended, modified or terminated at any time by Rogers, except
      in
      the case of the executive officers of Rogers as of November 1991. Such officers
      may elect the benefits of either the policy in effect in November 1991, or
      the
      severance policy, if any, which may be in existence at the time each such
      individual’s employment terminates. The right of executive officers to make such
      an election may be cancelled by Rogers or the executive on three years written
      notice. Messrs. Wachob and Soffer would be entitled to 78 weeks of salary and
      benefit continuance upon termination of employment covered by the policy in
      effect in November 1991. 

    

    
      
        8

      

      
         

        
          

        

      

      
         

      

    

     

    The
      board
      of directors determined that it would be in the best interests of Rogers to
      ensure that the possibility of a change in control of Rogers would not interfere
      with the continuing dedication of Rogers executive officers to their duties
      to
      Rogers and its shareholders. Toward that purpose, Rogers has agreements with
      its
      Chief Executive Officer and its other four most highly compensated executive
      officers as of January 1, 2006 as well as with the other executive officer
      of
      Rogers which provide certain severance benefits to them in the event of a
      termination of their employment during a 36 month period following a change
      in
      control, as defined in the agreements. The initial term of each agreement is
      three years and the term is automatically extended for additional one-year
      periods each anniversary date of the agreements, unless either party objects
      to
      such extension. If within a 36 month period following a change in control,
      an
      executive’s employment is terminated by Rogers without cause, as defined in the
      agreements, or if such executive resigns in certain specified circumstances,
      then the executive is generally entitled to the following severance benefits:
      (i) twice his annual base salary plus bonus; (ii) two years of additional
      pension benefits; and (iii) the continuation of health and life insurance plans
      and certain other benefits for up to two years. The agreements provide that
      severance and other benefits be reduced to an amount so that such benefits
      would
      not constitute so-called “excess parachute payments” under applicable provisions
      of the Internal Revenue Code of 1986.

    

    
      
        9

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