Document:

EX-10.1

Exhibit 10.1

NORDSON CORPORATION

2004 MANAGEMENT

INCENTIVE COMPENSATION PLAN

(Amended and Restated as of February 19, 2008)

1. PLAN OBJECTIVES

The objectives of the Plan are to enhance the Corporation’s ability to attract and retain
qualified employees and to provide incentives that motivate employees to achieve challenging
strategic and operating objectives.

2. DEFINITIONS

For purposes of the Plan, the following definitions will control:

	 	a.	 	“Corporation” - Nordson Corporation, its divisions and subsidiaries.

	 	b.	 	“Board” - The Board of Directors of Nordson Corporation.

	 	c.	 	“Committee” – A subcommittee of the Compensation Committee of the Board
constituted in a manner consistent with the “outside director” standard of Section
162(m) of the Internal Revenue Code.

	 	d.	 	“Incentive Award’” - Awards made by the Committee under this Plan. All awards
will be paid in cash unless otherwise determined by the Committee.

	 	e.	 	“Operating Cash Flow” means operating income plus depreciation, amortization
and other non-cash charges such as write-downs to the acquired or carrying value of
assets and charges for the impairment of goodwill and other intangible assets during
such period, adjusted to eliminate the effects of expenses for restructuring or
productivity initiatives and any expenses or write-offs in connection with acquisitions
or divestitures, each as defined by generally accepted accounting principles or
identified in the Company’s financial statements, notes to financial statements or
management’s discussion and analysis.

	 	e.	 	“Plan” - This 2004 Management Incentive Compensation Plan, as amended from time
to time.

	 	f.	 	“Plan Year” - The Corporation’s fiscal year.

3. ADMINISTRATION OF THE PLAN

The Plan will be administered by the Committee. The Committee is authorized to interpret
the Plan and to establish and amend guidelines necessary for Plan administration. Decisions
and determinations of the Committee will be binding on all persons claiming rights under the
Plan.

The Committee can amend the Plan to the extent necessary to treat the compensation payable
under the Plan as qualified performance-based compensation exempt from the non-deductible
limitation of Section 162(m) of the Internal Revenue Code.

4. DESCRIPTION OF THE PLAN

At the beginning of each Plan Year, the Chief Executive Officer will submit to the Committee
recommendations for the Plan Year with respect to proposed participants and Incentive
Awards, and the Committee may approve or modify these recommendations.

5. PARTICIPANTS

Participants will be selected by the Committee each Plan Year from among the executive
officers of the Corporation. Directors who are employees of the Corporation will be
eligible for participation.

	 	a.	 	Awards under the Plan may be made only to officers of the Corporation who are
in a position to make significant contributions to the financial success of the
Corporation.

	 	b.	 	In the event of termination of employment during a Plan Year by reason of
disability, retirement within the provisions of the Retirement Plan or other policies
of the Corporation, plant closing or divestiture of a business unit, the participant
will earn a pro-rata amount of his or her Incentive Award based on the time employed
prior to termination during the Plan Year and upon the Corporation’s actual performance
during the entire Plan Year.

	 	c.	 	In the event of a death of a participant during the Plan Year, the
participant’s beneficiary under the Corporation’s pension plan will receive a pro-rata
amount based on the time employed prior to death during the Plan Year and upon the
Corporation’s actual performance during the entire Plan Year.

	 	d.	 	In the event of termination of employment during a Plan Year for any other
reason, participation in the Plan will be as determined by the Committee.

6. CALCULATION OF INCENTIVE AWARDS

The Incentive Award payable under the Plan for a Plan Year is equal to 1.5% of the Company’s
operating cash flow for the Plan Year, but in no event shall the incentive award exceed
$2,000,000.

The Committee may not increase the amount payable under the Plan or with respect to an
Incentive Award, but retains the discretionary authority to reduce the amount. The
Committee may also establish factors to take into consideration in implementing its
discretion, including but not limited to performance against designated performance criteria
for the Plan Year, such as return on net assets, return on capital employed, economic value
added, sales, revenue, earnings per share, operating income, net income, earnings before
interest and taxes, return on equity, total shareholder return, market valuation, cash flow,
completion of acquisitions, product and market development, inventory management, working
capital management and customer satisfaction. Any of the foregoing performance criteria may
apply to a participant’s Incentive Award for any period in its entirety or to any designated
portion of the award opportunity, as the Committee may specify.

7. PAYMENTS OF AWARDS

Following the end of the each Plan Year, the Committee will confirm the calculation of each
participant’s Incentive Award, if any, based on the applicable formula or standard and will
certify achievement of the applicable business criteria prior to payment of any award.
Payment of Incentive Awards, if any, will be made, subject to deferral, following the Plan
Year in which the Incentive Award was earned, but in no event later than March 15 of the
calendar year next following the calendar year in which the Plan Year ends.

8. COMMUNICATION OF THE PLAN

After performance results are known and the Committee certifies achievement, the Chief
Executive Officer, or his designee, will communicate to each participant the specific
performance factors, the Incentive Award levels, and the manner in which awards will be
paid.

9. TERM OF THE PLAN

The Plan will remain in effect until terminated by the Committee.EX-10.2

Exhibit 10.2

NORDSON CORPORATION

2004 LONG-TERM PERFORMANCE PLAN

(Amended and Restated as of February 19, 2008)

	 	1.	 	Purpose.

The Nordson Corporation 2004 Long-Term Performance Plan (the “Plan”) is designed to foster and
promote the long-term growth and performance of the Company by: (a) enhancing the Company’s
ability to attract and retain qualified Directors and employees and (b) motivating Directors and
employees through stock ownership and other incentives. To achieve this purpose, the Plan provides
authority for the grant of Stock Options, Restricted Stock, Stock Equivalent Units, Stock
Appreciation Rights, and other incentives and the maintenance of an employee stock purchase
program.

	 	2.	 	Definitions.

(a) “Affiliate” – This term has the meaning given to it in Rule 12b-2 under the
Exchange Act; provided, however, that (i) for purposes of determining whether any person may be a
Participant with respect to any grant of Incentive Stock Options, the term “Affiliate” has the
meaning given to the term “Subsidiary” in Section 424 of the Code, as interpreted by the
regulations thereunder and applicable law; and (ii) for purposes of determining whether any person
may be a Participant with respect to any grant of Stock Options or Stock Appreciation Rights that
are intended to be exempt from Section 409A of the Code, the term “Affiliate” means any corporation
or other entity as to which Nordson Corporation is an “eligible issuer of service recipient stock”
(within the meaning of 409A of the Code).

(b) “Award” – The grant of Stock Options, Restricted Stock, Stock Equivalent Units,
Stock Appreciation Rights, Stock Purchase Rights, Cash Awards, and other incentives under this
Plan.

(c) “Award Agreement” — Any agreement between the Company and a Participant that sets
forth terms, conditions, and restrictions applicable to an Award.

(d) “Board of Directors” – The Board of Directors of the Company.

(e) “Cash Award” – This term has the meaning given to it in Section 6 (b) (v).

(f) “Change in Control” – A “Change of Control” means if at any time any of the
following events shall have occurred after the date of the adoption of this Plan (except as may be
otherwise prescribed by the Committee in an Award Agreement or Notice of Award):

(i) any person (other than Nordson Corporation, any of its subsidiaries, any employee
benefit plan or employee stock ownership plan of Nordson Corporation, or any Person
organized, appointed, or established by Nordson Corporation for or pursuant to the terms of
any such plan), alone or together with any of its Affiliates or Associates, becomes the
Beneficial Owner of 20% or more of the Common Shares then outstanding, or any such Person
commences or publicly announces an intent to commence a tender offer or exchange offer the
consummation of which would result in the Person becoming the Beneficial Owner of 20% or
more of the Common Shares then outstanding (provided, however, that, for purposes of
determining whether Eric T. Nord or Evan W. Nord, together with each of their Affiliates or
Associates, is the Beneficial Owner of 20% or more of the Common Shares then outstanding,
the Common Shares then held by the Walter G. Nord Trust, by the Eric T. Nord and Jane B.
Nord Trusts for Grandchildren, by the Nord Family Foundation (or any successor to the Nord
Family Foundation), and by the Eric and Jane Nord Foundation shall be excluded; for purposes
of determining whether the Walter G. Nord Trust, the Eric T. Nord and Jane B. Nord Trusts
for Grandchildren, the Nord Family Foundation (or any successor) , or the Eric and Jane Nord
Foundation, together with each of their Affiliates and Associates, is the Beneficial Owner
of 20% or more of the Common Shares then outstanding, the Common Shares then held by Eric T.
Nord and by Evan W. Nord shall be excluded; for purposes of determining whether the Nord
Family Foundation (or any successor) together with its Affiliates and Associates, is the
Beneficial Owner of 20% or more of the Common Shares then outstanding, the Common Shares
then held by the Eric and Jane Nord Foundation will be excluded; and, for purposes of
determining whether the Eric and Jane Nord Foundation, together with its Affiliates and
Associates, is the Beneficial Owner of 20% or more of the Common Shares then outstanding,
the Common Shares then held by the Nord Family Foundation (or any successor) will be
excluded) . For purposes of this Section 2(f) (i) , the terms “Affiliates, “Associates,”
“Beneficial Owner,” and “Person” will have the meanings given to them in the Second Restated
Rights Agreement, dated as of May 1, 2003, between Nordson Corporation and National City
Bank, as Rights Agent, as amended from time to time.

(ii) At any time during a period of 24 consecutive months, individuals who were
Directors at the beginning of the period no longer constitute a majority of the members of
the Board of Directors, unless the election, or the nomination for election by Nordson
Corporation’s shareholders, of each Director who was not a Director at the beginning of the
period is approved by at least a majority of the Directors who are in office at the time of
the election or nomination and were Directors at the beginning of the period.

(iii) A record date is established for determining shareholders entitled to vote upon
(A) a merger or consolidation of Nordson Corporation with another corporation in which
Nordson Corporation is not the surviving or continuing corporation or in which all or part
of the outstanding Common Shares are to be converted into or exchanged for cash, securities,
or other property, (B) a sale or other disposition of all or substantially all of the assets
of Nordson Corporation, or (C) the dissolution of Nordson Corporation.

(iv) Any person who proposes to make a “control share acquisition” of Nordson
Corporation, within the meaning of Section 1701.01(Z) of the Ohio General Corporation Law,
submits or is required to submit an acquiring person statement to Nordson Corporation.

(g) “Code” – The Internal Revenue Code of 1986, or any law that supersedes or replaces
it, as amended from time to time.

(h) “Committee” – The Compensation Committee of the Board of Directors, or any other
committee of the Board of Directors that the Board of Directors authorizes to administer this Plan.
The Committee will be constituted in a manner that satisfies all applicable legal requirements.
If necessary, actions will be taken by a subcommittee of the Compensation Committee.

(i) “Common Shares” or “shares” – Common Shares without par value of Nordson
Corporation, including authorized and unissued shares and treasury shares.

(j) “Company” – Nordson Corporation, an Ohio corporation, and its direct and indirect
subsidiaries.

(k) “Continuing Director” – A Director who was a Director prior to a Change in Control
or was recommended or elected to succeed a Continuing Director by a majority of the Continuing
Directors then in office.

(l) "Covered Employee” – A Participant who is, or is determined by the Committee to be
likely to become, a “covered employee” within the meaning of Section 162(m) of the Code (or any
successor provision).

(m) “Director” – A director of Nordson Corporation.

(n) “Exchange Act” – Securities Exchange Act of 1934, and any law that supersedes or
replaces it, as amended from time to time.

(o) “Fair Market Value” of Common Shares shall mean, on any particular date, (i) if
the Common Shares are listed on a national securities exchange, the closing price as reported for
composite transactions on the exchange, (ii) if the Common Shares are not listed on an exchange but
transactions in the Common Shares are reported in the NASDAQ Global Select Market system, the
closing price as reported in the NASDAQ National Market system on the date the Award is granted,
and (iii) if either of the methods referred to in (i) or (ii) become impracticable for any reason,
the value determined using a method established by the Committee on a basis consistent with
regulations under the Code.

(p) “Holder” – The Participant or eligible transferee (as such eligibility may be
determined from time to time by the Committee) who holds an Award.

(q) “Incentive Stock Option” – A Stock Option that meets the requirements of Section
422 of the Code.

(r) “Notice of Award” – Any notice by the Committee to a Participant that advises the
Participant of the grant of an Award or sets forth terms, conditions, and restrictions applicable
to an Award.

(s) “Operating Cash Flow” means operating income plus depreciation, amortization and
other non-cash charges such as write-downs to the acquired or carrying value of assets and charges
for the impairment of goodwill and other intangible assets during such period, adjusted to
eliminate the effects of expenses for restructuring or productivity initiatives and any expenses or
write-offs in connection with acquisitions or divestitures, each as defined by generally accepted
accounting principles or identified in the Company’s financial statements, notes to financial
statements or management’s discussion and analysis.

(t) “Participant” – Any person to whom an Award has been granted under this Plan.

(u) “Performance Objectives” – The measurable performance objective or objectives
established pursuant to this Plan for Participants. Performance Objectives may be described in
terms of Company-wide objectives or objectives that are related to the performance of the
individual Participant or of an Affiliate, division, department, region or function within the
Company or Affiliate in which the Participant is employed. The Performance Objectives may be made
relative to the performance of other corporations. The Performance Objectives applicable to any
award to a Covered Employee that is intended to qualify for the performance-based compensation
exception to Section 162(m) of the Code shall be based on specified levels of or growth in one or
more of the following criteria: return on net assets, return on capital employed, economic value
added, sales, revenue, earnings per share, operating income, net income, earnings before interest
and taxes, return on equity, total shareholder return, market valuation, cash flow, completion of
acquisitions, product and market development, inventory management, working capital management and
customer satisfaction. The foregoing business criteria may be clarified by reasonable definitions
adopted from time to time by the Committee, which may include or exclude any or all of the
following items, as the Committee may specify: extraordinary, unusual or non recurring items;
effects of accounting changes; effects of currency fluctuations; effects of financing activities;
effects relating to the impairment of goodwill or other intangible assets; expenses for
restructuring or productivity initiatives; non operating items; acquisition expenses; and effects
of acquisitions, divestitures or reorganizations. If the Committee determines that a change in the
business, operations, corporate structure or capital structure of the Company, or the manner in
which it conducts its business, or other events or circumstances (including those events and
circumstances described in Section 4(c) of this Plan) render the Performance Objectives unsuitable,
the Committee may in its discretion modify such Performance Objectives or the related minimum
acceptable level of achievement, in whole or in part, as the Committee deems appropriate and
equitable, except in the case of a Covered Employee to the extent that such action would result in
the loss of the otherwise available exemption of the award under Section 162(m) of the Code.

(v) “Restricted Stock” – An Award of Common Shares that are subject to restrictions or
risk of forfeiture.

(w) “Rule 16b-3” – Rule l6b-3 under the Exchange Act, or any rule that supersedes or
replaces it, as amended from time to time.

(x) “Stock Appreciation Right” – This term has the meaning given to it in Section
6(b)(i).

(y) “Stock Award” – This term has the meaning given to it in Section 6(b)(ii).

(z) “Stock Equivalent Unit” – An Award that is valued by reference to the value of
Common Shares.

(aa) “Stock Option” – This term has the meaning given to it in Section 6(b)(iii).

(bb) “Stock Purchase Right” – This term has the meaning given to it in Section
6(b)(iv).

	 	3.	 	Eligibility.

All key employees of the Company and its Affiliates and all Directors are eligible for the
grant of Awards. The selection of the employees and Directors to receive Awards will be within the
discretion of the Committee. More than one Award may be granted to the same employee or Director.

	 	4.	 	Common Shares Available for Awards; Adjustment.

(a) Number of Common Shares. The aggregate number of Common Shares that may be
subject to Awards granted under this Plan in any fiscal year of the Company during the term of this
Plan will be two and one half percent (2.5%) of the number of Common Shares outstanding as of the
first day of that fiscal year.

The assumption of awards granted by an organization acquired by the Company, or the grant of
Awards under this Plan in substitution for any such awards, will not reduce the number of Common
Shares available in any fiscal year for the grant of Awards under this Plan.

Common Shares subject to an Award that is forfeited, terminated, or canceled without having
been exercised (other than Common Shares subject to a Stock Option that is canceled upon the
exercise of a related Stock Appreciation Right) will again be available for grant under this Plan,
without reducing the number of Common Shares available in any fiscal year for grant of Awards under
this Plan.

Notwithstanding anything in this Section 4(a), or elsewhere in this Plan, to the contrary and
subject to adjustment as provided in Section 4(c) of this Plan, (i) the aggregate number of Common
Shares actually issued or transferred upon the exercise of Incentive Stock Options shall not exceed
1,000,000 Common Shares; (ii) no Participant shall be granted Stock Options and Stock Appreciation
Rights, in the aggregate, for more than 250,000 Common Shares during any fiscal year of the
Company; and (iii) no Participant shall be granted Restricted Stock awards that specify
Performance Objectives, in the aggregate, for more than 75,000 Common Shares during any fiscal year
of the Company.

Finally, each Participant that receives, in any one fiscal year, an award of Stock Equivalent
Units, Cash Awards, performance share units payable in shares or other similar awards specifying
the attainment of Operating Cash Flow during any fiscal year or years (the “Performance Period”)
will be eligible to receive a maximum aggregate payout as of their date of payment with a value
equal to 1.0% of Operating Cash Flow during the Performance Period, but in no event shall such
payout have a value greater than $4,000,000. The Committee may not increase the amount payable
under any such Award but retains the discretionary authority to reduce the amount. The Committee
may also establish factors to take into consideration in implementing its discretion, including but
not limited to performance against designated performance criteria for the Performance Period, such
as return on net assets, return on capital employed, economic value added, sales, revenue, earnings
per share, operating income, net income, earnings before interest and taxes, return on equity,
total shareholder return, market valuation, cash flow, completion of acquisitions, product and
market development, inventory management, working capital management and customer satisfaction.
Any of the foregoing performance criteria may apply to a participant’s Award for any period in its
entirety or to any designated portion of the Award opportunity, as the Committee may specify.

(b) No Fractional Shares. No fractional shares will be issued, and the Committee will
determine the manner in which the value of fractional shares will be treated.

(c) Adjustment. In the event of any change in the Common Shares by reason of a
merger, consolidation, reorganization, reclassification, recapitalization, or similar transaction,
or in the event of a stock dividend, stock split, or distribution to shareholders (other than
normal cash dividends), the Committee will adjust the number and class of shares that may be issued
under this Plan (including the number of Common Shares that may be subject to Awards granted to any
Participant in any fiscal year under Section 4(a)), the number and class of shares subject to
outstanding Awards, the exercise price applicable to outstanding Awards, and the Fair Market Value
of the Common Shares and other value determinations applicable to outstanding Awards. In no event
shall any adjustment be required under this Section 4(c) to the extent the Committee determines
that such action (i) would cause any Stock Option intended to qualify as an Incentive Stock Option
to fail so to qualify, or (ii) would cause an Award to fail to satisfy the conditions of an
applicable exception from the requirements of Section 409A of the Code or otherwise could subject a
Participant to the additional tax imposed under Section 409A in respect of an outstanding Award.

	 	5.	 	Administration.

(a) Committee. This Plan will be administered by the Committee. The Committee will,
subject to the terms of this Plan, have the authority to: (i) select the eligible employees and
Directors who will receive Awards, (ii) grant Awards, (iii) determine the number and types of
Awards to be granted to employees and Directors, (iv) determine the terms, conditions, vesting
periods, and restrictions applicable to Awards, (v) adopt, alter, and repeal administrative rules
and practices governing this Plan, (vi) interpret the terms and provisions of this Plan and any
Awards granted under this Plan, (vii) prescribe the forms of any Notices of Award, Award
Agreements, or other instruments relating to Awards, and (viii) otherwise supervise the
administration of this Plan. All decisions by the Committee will be made with the approval of not
less than a majority of its members.

(b) Delegation. The Committee may delegate any of its authority to any other person
or persons that it deems appropriate, provided the delegation does not cause this Plan or any
Awards granted under this Plan to fail to qualify for the exemption provided by Rule 16b-3, the
performance-based compensation exception to Section 162(m) of the Code, or to meet any other
applicable legal requirements.

(c) Decisions Final. All decisions by the Committee, and by any other person or
persons to whom the Committee has delegated authority, will be final and binding on all persons.

	 	6.	 	Awards.

(a) Grant of Awards. The Committee will determine the type or types of Awards to be
granted to each Participant and will set forth in the related Notice of Award or Award Agreement
the terms, conditions, vesting periods, and restrictions applicable to each Award. Awards may be
granted singly or in combination or tandem with other Awards. Awards may also be granted in
replacement of, or in substitution for, other awards granted by the Company, whether or not granted
under this Plan; without limiting the foregoing, if a Participant pays all or part of the exercise
price or taxes associated with an Award by the transfer of Common Shares or the surrender of all or
part of an Award (including the Award being exercised), the Committee may, in its discretion, grant
a new Award to replace the Common Shares that were transferred or the Award that was surrendered.
The Company may assume awards granted by an organization acquired by the Company or may grant
Awards in replacement of, or in substitution for, any such awards.

(b) Types of Awards. Awards may include, but are not limited to, the following:

(i) Stock Appreciation Right – A right to receive a payment, in cash or Common
Shares, equal to the excess of (A) the Fair Market Value, or other specified valuation, of a
specified number of Common Shares on the date the right is exercised over (B) the Fair
Market Value, or other specified valuation, on the date the right is granted, all as
determined by the Committee. The right may be conditioned upon the occurrence of certain
events, such as a Change in Control of the Company, or may be unconditional, as determined
by the Committee. The exercise price or base price of a Stock Appreciation Right may not be
less than the Fair Market Value of the Common Shares on the date the Stock Appreciation
Right is granted (which date will not be earlier than the date on which the Committee takes
action with respect thereto).

(ii) Stock Award – An Award that is made in Common Shares, Restricted Stock, or
Stock Equivalent Units or that is otherwise based on, or valued in whole or in part by
reference to, the Common Shares. All or part of any Stock Award may be subject to
conditions, restrictions, and risks of forfeiture, as and to the extent established by the
Committee. Stock Awards may be based on the Fair Market Value of the Common Shares, or on
other specified values or methods of valuation, as determined by the Committee.

(iii) Stock Option – A right to purchase a specified number of Common Shares,
during a specified period of time, and at a specified exercise price, all as determined by
the Committee. A Stock Option may be an Incentive Stock Option or a Stock Option that does
not qualify as an Incentive Stock Option. In addition to the terms, conditions, vesting
periods, and restrictions established by the Committee, Incentive Stock Options must comply
with the requirements of Section 422 of the Code. Incentive Stock Options may only be
granted to Participants who meet the definition of “employees” under Section 3401(c) of the
Code on the date of grant The exercise price of a Stock Option may not be less than the
Fair Market Value of the Common Shares on the date the Stock Option is granted (which date
will not be earlier than the date on which the Committee takes action with respect thereto).

(iv) Stock Purchase Right – A right to participate in a stock purchase program,
including but not limited to a stock purchase program that meets the requirements of Section
423 of the Code.

Among other requirements, Section 423 currently provides that (A) only employees of
Nordson Corporation, or of any direct or indirect “subsidiary” of Nordson Corporation (as
defined in Section 424 of the Code) designated by the Committee, may receive Stock Purchase
Rights that qualify under Section 423 (“Section 423 Rights”), (B) Section 423 Rights may not
be granted to any Participant who, immediately after the Section 423 Rights are granted,
owns stock possessing five percent (5%) or more of the total combined voting power or value
of all classes of stock of Nordson Corporation, (C) Section 423 Rights must be granted to
all employees of Nordson Corporation, and of any direct or indirect subsidiary of Nordson
Corporation designated by the Committee, except that there may be excluded (1) employees who
have been employed less than two years, (2) employees whose customary employment is 20 hours
or less per week, (3) employees whose customary employment is for not more than five months
in any calendar year, and (4) highly compensated employees (within the meaning of Section
414(q) of the Code) , (D) all employees granted Section 423 Rights must have the same rights
and privileges, except that the number of Common Shares that may be purchased by any
employee upon exercise of Section 423 Rights may bear a uniform relationship to the total
compensation, or the basic or regular rate of compensation, of the employee, (E) the
exercise price of Section 423 Rights may not be less than the lesser of (1) eighty-five
percent (85%) of the Fair Market Value of the Common Shares at the time Section 423 Rights
are granted or (2) eighty-five percent (85%) of the Fair Market Value of the Common Shares
at the time the Section 423 Rights are exercised; (F) Section 423 Rights cannot be exercised
after the expiration of 27 months from the date the Section 423 Rights are granted, and (G)
no employee may be granted Section 423 Rights, under this Plan and any other plans of
Nordson Corporation and its subsidiaries, that permit the purchase of Common Shares with a
Fair Market Value of more than $25,000 (determined at the time the Section 423 Rights are
granted) in any calendar year.

(v) Cash Award – An Award denominated in cash. All or part of any cash award
may be subject to conditions established by the Committee, including but not limited to
future service with the Company.

Any grant of Stock Awards or Cash Awards may specify Performance Objectives that, if achieved, will
result in termination or early termination of the restrictions applicable to such Awards. Each
grant may specify in respect of such Performance Objectives a minimum acceptable level of
achievement and may set forth a formula for determining the amount of or number of Stock Awards or
Cash Awards that will be earned if performance is at or above the minimum level, but falls short of
full achievement of the specified Performance Objectives.

	 	7.	 	Deferral of Payment.

To the extent permitted under Section 409A of the Code, and with the approval of the
Committee, the delivery of the Common Shares, cash, or any combination thereof subject to an Award
(other than Stock Options or Stock Appreciation Rights) may be deferred, either in the form of
installments or a single future delivery. The Committee may also permit selected Participants to
defer the payment of some or all of their Awards (other than Stock Options or Stock Appreciation
Rights), as well as other compensation, in accordance with procedures established by the Committee
to assure that the recognition of taxable income is deferred under the Code. Deferred amounts may,
to the extent permitted by the Committee, be credited as cash or Stock Equivalent Units. The
Committee may also establish rules and procedures for the crediting of interest on deferred cash
payments and dividend equivalents on Stock Equivalent Units.

	 	8.	 	Payment of Exercise Price.

The exercise price of a Stock Option (other than an Incentive Stock Option), Director Option,
Stock Purchase Right, and any Stock Award for which the Committee has established an exercise price
may be paid in cash, by the transfer of Common Shares, by the surrender of all or part of an Award
(including the Award being exercised), or by a combination of these methods, as and to the extent
permitted by the Committee. The exercise price of an Incentive Stock Option may be paid in cash,
by the transfer of Common Shares, or by a combination of these methods, as and to the extent
permitted by the Committee at the time of grant, but may not be paid by the surrender of all or
part of an Award. The Committee may prescribe any other method of paying the exercise price that
it determines to be consistent with applicable law and the purpose of this Plan.

In the event shares of Restricted Stock are used to pay the exercise price of a Stock Award, a
number of the Common Shares issued upon the exercise of the Award equal to the number of shares of
Restricted Stock used to pay the exercise price will be subject to the same restrictions as the
Restricted Stock.

	 	9.	 	Taxes Associated with Award.

Prior to the payment of an Award, the Company may withhold, or require a Participant to remit
to the Company, an amount sufficient to pay any required Federal, state, and local taxes associated
with the Award; provided, however, that if a Stock Option has been transferred and the Participant
does not pay such taxes on the date of exercise, such required withholding taxes will be paid by
reducing the number of Common Shares to be received upon exercise. The Committee may, in its
discretion and subject to such rules as the Committee may adopt, permit a Participant to pay any or
all required withholding taxes associated with the Award (other than an Incentive Stock Option) in
cash, by the transfer of Common Shares, by the surrender of all or part of an Award (including the
Award being exercised), or by a combination of these methods. The Committee may permit a
Participant to pay any or all required withholding taxes associated with an Incentive Stock Option
in cash, by the transfer of Common Shares, or by a combination of these methods.

	 	10.	 	Termination of Employment.

If the employment of a Participant terminates for any reason, all unexercised, deferred, and
unpaid Awards may be exercisable or paid only in accordance with rules established by the
Committee. These rules may provide, as the Committee deems appropriate, for the expiration,
continuation, or acceleration of the vesting of all or part of the Awards.

	 	11.	 	Termination of Awards under Certain Conditions.

The Committee may cancel any unexpired, unpaid, or deferred Awards held by a Holder at any
time if the Holder is not in compliance with all applicable provisions of this Plan or with any
Notice of Award, Award Agreement, Committee action or documentation relating to the Award, or if
the Participant, without the prior written consent of the Company, engages in any of the following
activities:

(i) Renders services for an organization, or engages in a business, that is, in the
judgment of the Committee, in competition with the Company.

(ii) Discloses to anyone outside of the Company, or uses for any purpose other than the
Company’s business, any confidential information or material relating to the Company,
whether acquired by the Participant during or after employment with the Company.

The Committee may, in its discretion and as a condition to the exercise of an Award by a
Holder, require a Holder to acknowledge in writing that he or she is in compliance with all
applicable provisions of this Plan and of any Notice of Award, Award Agreement, Committee action or
documentation relating to the Award, and, in the case of a Participant, has not engaged in any
activities referred to in clauses (i) and (ii) above.

	 	12.	 	Change in Control.

In the event of a Change in Control of the Company, unless and to the extent otherwise
determined by the Board of Directors or set forth in the Award Agreement or Notice of Award, (i)
all Stock Appreciation Rights, Stock Options, and other Stock Purchase Rights then outstanding will
become fully exercisable as of the date of the Change in Control, (ii) all restrictions and
conditions applicable to Restricted Stock and other Stock Awards will be deemed to have been
satisfied as of the date of the Change in Control, and (iii) all Cash Awards will be deemed to have
been fully earned as of the date of the Change in Control. Any such determination by the Board of
Directors that is made after the occurrence of a Change in Control will not be effective unless a
majority of the Directors then in office are Continuing Directors and the determination is approved
by a majority of the Continuing Directors.

	 	13.	 	Amendment, Suspension, or Termination of this Plan; Amendment
of Outstanding Awards.

(a) Amendment, Suspension, or Termination of this Plan. The Board of Directors may
amend, suspend, or terminate this Plan at any time. Shareholder approval for any such amendment
will be required only to the extent necessary to comply with the rules of the exchange or quotation
system on which the Common Shares are traded or quoted, the rules and regulations related to
Incentive Stock Options or any other applicable legal requirements.

(b) Amendment of Outstanding Awards. The Committee may, in its discretion, amend the
terms of any Award, prospectively or retroactively, but no such amendment may impair the rights of
any Holder without his or her consent unless necessary to comply with Section 409A of the Code.
The Committee may, in whole or in part, waive any restrictions or conditions applicable to, or
accelerate the vesting of, any Award.

	 	14.	 	Awards to Foreign Nationals and Employees Outside the United
States.

To the extent that the Committee deems appropriate to comply with foreign law or practice and
to further the purpose of this Plan, the Committee may, without amending this Plan, (i) establish
special rules applicable to Awards granted to Participants who are foreign nationals, are employed
outside the United States, or both, including rules that differ from those set forth in this Plan,
and (ii) grant Awards to such Participants in accordance with those rules.

	 	15.	 	Nonassignability.

Unless otherwise determined by the Committee, (i) no Award granted under this Plan may be
transferred or assigned by the Holder other than by Designation of Beneficiary, or, if none, by
will, pursuant to the laws of descent and distribution, or pursuant to a qualified domestic
relations order and (ii) an Award granted under this Plan may be exercised, during the Holder’s
lifetime, only by the Holder or by the Holder’s guardian or legal representative; except that, no
Incentive Stock Option or Section 423 Right may be transferred or assigned pursuant to a qualified
domestic relations order or exercised, during the Participant’s lifetime, by the Participant’s
guardian or legal representative. “Designation of Beneficiary” shall mean the person(s) or entity
whom the Holder has designated by a transfer on death or other designation of beneficiary to
receive the Holder’s Award on the Holder’s death in accordance with such procedures established
from time to time by the Committee.

	 	16.	 	Governing Law.

The interpretation, validity, and enforcement of this Plan will, to the extent not otherwise
governed by the Code or the securities laws of the United States, be governed by the law of the
State of Ohio.

	 	17.	 	Rights of Employees.

Nothing in this Plan will confer upon any Participant the right to continued employment by the
Company or limit in any way the Company’s right to terminate any Participant’s employment at will.

	 	18.	 	Effective and Termination Dates.

(a) Effective Date. The effective date of this Plan is November 3, 2003, subject to
approval by shareholders at the annual meeting in 2004.

(b) Termination Date. This Plan will continue in effect until terminated by the Board
of Directors.

19. Compliance with Section 409A of the Code.

Awards granted under this Plan shall be designed and administered in such a manner that they
are either exempt from the application of, or comply with, the requirements of Section 409A of the
Code. To the extent that the Committee determines that any Award granted under the Plan is
subject to Section 409A of the Code, the Award Agreement or Notice of Award shall incorporate the
terms and conditions necessary to avoid the imposition of an additional tax under Section 409A of
the Code upon a Participant. Notwithstanding any other provision of the Plan or any Award
Agreement or Notice of Award (unless the Award Agreement or Notice of Award provides otherwise with
specific reference to this Section), an Award shall not be granted, deferred, accelerated,
extended, paid out, settled, substituted or modified under this Plan in a manner that would result
in the imposition of an additional tax under Section 409A of the Code upon a Participant. Although
the Company intends to administer the Plan so that Awards will be exempt from, or will comply with,
the requirements of Section 409A of the Code, the Company does not warrant that any Award under the
Plan will qualify for favorable tax treatment under Section 409A of the Code or any other provision
of federal, state, local, or non-United States law. Neither the Company, its Affiliates, nor their
respective directors, officers, employees or advisers shall be liable to any Participant (or any
other individual claiming a benefit through the Participant) for any tax, interest, or penalties
the Participant might owe as a result of the grant, holding, vesting, exercise, or payment of any
Award under the Plan. Any reference in this Plan to Section 409A of the Code will also include the
applicable proposed, temporary or final regulations, or any other guidance, issued with respect to
such Section by the U.S. Department of the Treasury or the Internal Revenue Service.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00137-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00137-of-00352.parquet"}]]