Document:

<PAGE>

                                                                    EXHIBIT 10.6

        FMC Corporation Salaried Employees' Equivalent Retirement Plan
        --------------------------------------------------------------

           (As Amended and Restated Effective as of January 1, 2000)

        Section 1.  Establishment and Purposes of the Plan. The FMC Salaried
                    --------------------------------------
Employees' Equivalent Retirement Plan (the "Plan") was established effective
January 1, 1976 by FMC Corporation, a Delaware corporation ("FMC"). The purpose
of the Plan is to provide employees of FMC and its affiliated companies that
have adopted the Plan (collectively, the "Employer") with the retirement
benefits they would have received under the Part I - Salaried and Non-Union
Hourly Employee's Retirement Plan of the FMC Corporation Employees' Retirement
Program (the "Salaried Retirement Plan"), but for the limitations of Sections
401(a)(17) and 415 of the Internal Revenue Code of 1986, as amended (the
"Code"), and but for the fact that amounts an employee defers under the FMC
Corporation Non-Qualified Savings and Investment Plan are not pensionable
earnings under the Salaried Retirement Plan. This document represents an
amendment and restatement of the Plan, effective as of January 1, 2000.

        Section 2.  Participants. An employee of any Employer who is an active
                    ------------
participant in the Salaried Retirement Plan will become a "Participant" on the
day he or she becomes entitled to an Excess Benefit under Section 3. Once an
individual is a Participant, he or she will remain a Participant until his or
her entire Excess Benefit has been paid.

        Section 3.  Excess Benefit. Each employee of an Employer who is an
                    --------------
active participant in the Salaried Retirement Plan will be entitled to receive
an "Excess Benefit" equal to the amount, if any, by which his or her accrued
benefit under the Salaried Retirement Plan is reduced:

        (a)  to comply with the limitations of Section 415 of the Code;

        (b)  because his or her pensionable earnings exceed the annual
             compensation limit under Code Section 401(a)(17), as adjusted (for
             2000, $170,000); and

        (c)  because deferred compensation is not included in the definition of
             pensionable earnings under the Salaried Retirement Plan.

If the Participant's Excess Benefit is paid in a form other than the normal form
of benefit under the Salaried Retirement Plan, his or her Excess Benefit will be
converted to the form of benefit in which it is paid, using the same actuarial
assumptions and methods as are used to determine actuarial equivalence under the
Salaried Retirement Plan.

        Section 4.  Funding. The amount of a Participant's Excess Benefit, if
                    -------
any, will be determined at the time the Participant becomes entitled to receive
a retirement benefit under the Salaried Retirement Plan, or at another time
determined by the Committee (as defined in Section 7) in its sole discretion,
according to rules of uniform application. Neither FMC nor any Employer is
required to segregate on its books or elsewhere any amount to be used to pay

                                      -1-
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Excess Benefits, and no accounts will be maintained for Participants under the
Plan. This Plan will be unfunded, and Plan benefits will be payable only from
the general assets of FMC or any Employer. Each Participant has only the rights
of an unsecured creditor of FMC or any Employer, as to his or her Excess
Benefit.

        Section 5.  Establishment of Trust. FMC may, in its sole discretion,
                    ----------------------
establish a grantor trust in order to accumulate assets to pay Plan obligations.
The assets and income of any trust established under this Plan will be subject
to the claims of FMC's creditors (and those of any Employer, but only to the
extent they are attributable to the contributions of such Employer) in the event
of FMC's (or any Employer's) bankruptcy or insolvency, and the trust document
will specifically contain language to that effect, and language specifying the
mandatory procedure for FMC to notify the trustee of bankruptcy or insolvency.
The establishment or maintenance of a trust will not affect FMC's (or any
Employer's) liability to pay Plan benefits, except as and to the extent amounts
from the trust are actually used to pay a Participant's Plan benefits. If FMC
does establish a trust under the Plan, FMC will determine how much will be
contributed to the trust and when, and trust assets will be invested in
accordance with the terms of the trust.

A Participant will have no direct or secured claim in any asset of the trust, or
in specific assets of FMC or any Employer, and will have the status of a general
unsecured creditor for any amounts due under this Plan.

     Section 6.  Payment of Excess Benefit. A Participant's Excess Benefit will
                 -------------------------
be paid to him or her (or, if he or she dies, to his or her beneficiary) at the
same time and in the same manner as his or her accrued benefit under the
Salaried Retirement Plan. A Participant's beneficiary under this Plan will be
the same person or persons as his or her beneficiary under the Salaried
Retirement Plan. Except as described below, no Participant will be required or
permitted to make any election or designation, including but not limited to a
payment election or a beneficiary designation, under this Plan. Instead, each
election or designation a Participant makes under the Salaried Retirement Plan
will apply to the Participant's Excess Benefit.

Effective for distributions beginning on or after January 1, 1998, a Participant
may elect a lump sum distribution of his or her Excess Benefit. A lump sum will
be paid as of the last day of the sixth calendar month after the calendar month
in which the Participant terminated employment with the Company and all other
members of the Affiliated Group, or at such other time as the Committee
determines.

Effective for distributions beginning on or after August 1, 1999, the Committee
may, in its sole discretion, give a Participant the ability to elect a special
annuity distribution option whereby FMC will purchase an annuity contract to pay
the Participant's Excess Benefit at the same time and in the same manner as his
or her accrued benefit under the Salaried Retirement Plan are to be paid.

Notwithstanding anything herein to the contrary, the Committee may on its own
initiative authorize FMC to distribute to any Participant (or, if the
Participant has died, to his or her designated beneficiary) all or any part of
the Participant's Excess Benefit. Payment under the

                                      -2-
<PAGE>

preceding sentence is specifically authorized if there is a change in tax law, a
published ruling or a similar announcement issued by the Internal Revenue
Service, a Treasury Regulation, a decision by a court of competent jurisdiction
involving a Participant or designated beneficiary or a closing agreement
involving a Participant, that the Committee determines will cause the
Participant to have or recognize income for federal income tax purposes as to
Excess Benefits payable under this Plan.

        Section 7.  Administration of the Plan. This Plan will be administered
                    --------------------------
by the FMC Corporation Employee Welfare Benefits Plan Committee (the
"Committee"). The Committee has all necessary power to administer the Plan,
including the authority and duty to interpret and apply the Plan's terms, adopt
any rules or regulations the Committee deems necessary or desirable to operate
the Plan, make whatever determinations are permitted or required to maintain or
administer the Plan and take any other actions that prove necessary to
administer the Plan properly, in accordance with its terms. Any decision of the
Committee as to any matter within its authority will be final, binding and
conclusive upon FMC, each Employer, and each Participant, former Participant,
beneficiary or other person claiming under or through any Participant or
beneficiary. An action of the Committee regarding a particular Participant will
not be binding on the Committee regarding an action to be taken as to any other
Participant. A member of the Committee may be a Participant, but he or she may
not participate in any decision that directly affects his or her rights under
the Plan, or the computation of his or her Excess Benefit. Each determination
required or permitted under the Plan will be made by the Committee in its sole
and absolute discretion. The Committee may delegate some or all of its Plan
duties or responsibilities.

        Section 8.  Amendment and Termination. FMC may amend or terminate the
                    -------------------------
Plan by action of its Board of Directors, or by action of an officer or FMC
employee or committee authorized by the Board of Directors of FMC to amend the
Plan. Any Employer may terminate its participation in the Plan at any time by
appropriate action, in its discretion. The Plan will automatically terminate as
to any Employer upon termination of the Employer's participation in the Salaried
Retirement Plan. Notwithstanding the foregoing, no Plan amendment or termination
may adversely affect the right of a Participant (or of his or her beneficiary)
to a benefit accrued under this Plan before the date the amendment is adopted or
effective, whichever is later.

        Section 9.  Employment. Nothing in this Plan will be deemed to give any
                    ----------
person the right to remain in the employ of FMC, any Employer or any of its
affiliates, or affect the right of FMC, any Employer or any of its affiliates to
terminate or change the terms of any Participant's employment, with or without
cause. By accepting any payment under this Plan, each Participant, former
Participant and designated beneficiary and each person claiming under or through
a Participant, former Participant or designated beneficiary, is conclusively
bound by any action or decision taken or made under the Plan by the Committee,
FMC or any Employer.

        Section 10. Withholding for Taxes. Notwithstanding anything contained in
                    ---------------------
this Plan to the contrary, any Employer will withhold from any distribution or
deferral under the Plan whatever amount or amounts is it required to withhold to
comply with the tax withholding

                                      -3-
<PAGE>

provisions of the Code or any state income tax act for purposes of paying any
income, estate, inheritance, employment or other tax attributable to any amounts
distributable under the Plan.

        Section 11. Immunity of Committee Members. The members of the Committee
                    -----------------------------
may rely upon any information, report or opinion supplied to them by any officer
of an Employer or any legal counsel, independent public accountant or actuary,
and will be fully protected in relying on any such information, report or
opinion. No member of the Committee will have any liability to FMC, any Employer
or any Participant, former Participant, beneficiary, person claiming under or
through any Participant or beneficiary, or other person interested or concerned
in connection with any Plan decision made by that member of the Committee, so
long as the decision was based on any such information, report or opinion, and
the Committee member relied on it in good faith.

        Section 12. Action by Employer. Any action required or permitted to be
                    ------------------
taken under the Plan by an Employer must be taken by its board of directors, by
a duly authorized committee of its board of directors, or by a person or persons
authorized by its board of directors or an authorized committee.

        Section 13. Effect on Other Employee Benefit Plans. Compensation accrued
                    --------------------------------------
under this Plan will not be included in the Participant's compensation or
earnings for purposes of computing benefits under any other employee benefit
plan maintained or contributed to by FMC or any Employer, except as and to the
extent required under the terms of that employee benefit plan or applicable law.

        Section 14. Non-Alienation of Benefits. A Participant's rights to Excess
                    --------------------------
Benefits under the Plan cannot be granted, transferred, pledged or otherwise
assigned, in whole or in part, by the voluntary or involuntary acts of any
person, or by operation of law, and will not be liable or taken for any
obligation of the Participant. Any attempted grant, transfer, pledge or
assignment of a Participant's rights to Plan benefits will be null and void and
without any legal effect.

        Section 15. Employer Liability. Each Employer is liable to pay the Plan
                    ------------------
benefits earned or accrued for its eligible employees who are Participants. With
the consent of the Board of Directors (or of a duly appointed delegate of the
Board of Directors), any Employer may assume any other Employer's Plan
liabilities and obligations. To the extent that an Employer assumes another
Employer's Plan liabilities or obligations, the second Employer will be released
from any continuing obligation under the Plan. At FMC's request, a Participant,
former Participant or designated beneficiary will sign any documents reasonably
required by FMC to effectuate the purposes of this Section 15.

        Section 16. Notices. Any notice required to be given by FMC, an Employer
                    -------
or the Committee must be in writing and must be delivered in person, by
registered mail, return receipt requested, or by regular mail, telecopy or
electronic mail. Any notice given by mail will be deemed to have been given on
the date it was mailed, correctly addressed to the last known address of the
person to whom the notice is to be given.

                                      -4-
<PAGE>

        Section 17. Gender, Number and Headings. Except where the context
                    ---------------------------
otherwise requires, in this Plan the masculine gender includes the feminine, the
feminine includes the masculine, the singular includes the plural, and the
plural includes the singular. Headings are inserted for convenience only, are
not part of the Plan, and are not to be considered in the Plan's construction.

        Section 18. Controlling Law. The Plan will be construed according to the
                    ---------------
internal laws of Illinois to the extent they are not preempted by any applicable
federal law.

        Section 19. Successors. The Plan is binding on all persons entitled to
                    ----------
benefits under it, on their respective heirs and legal representatives, on the
Committee and its successor, and on any Employer and its successor, whether by
way of merger, consolidation, purchase or otherwise.

        Section 20. Severability. If any provision of the Plan is held to be
                    ------------
illegal or invalid for any reason, that illegality or invalidity will not affect
the remaining provisions of the Plan, and the Plan will be enforced and
administered, from that point forward, as if the invalid provisions had never
been part of it.

        Section 21. Subsequent Changes. All benefits to which any Participant,
                    ------------------
beneficiary or other person is entitled under this Plan will be determined
according to the terms of the Plan as in effect when the Participant ceases to
be an employee for purposes of the Salaried Retirement Plan, and will not be
affected by any subsequent changes in Plan provisions, unless the Participant
again becomes an employee, or unless and to the extent the subsequent change
expressly applies to the Participant, his or her beneficiary, or other person
claiming through or on behalf of the Participant or beneficiary.

        Section 22. Benefits Payable to Minors, Incompetents and Others. If any
                    ---------------------------------------------------
benefit is payable to a minor, an incompetent, or a person otherwise under a
legal disability, or to a person the Committee reasonably believes to be
physically or mentally incapable of handling and disposing of his or her
property, the Committee has the power to apply all or any part of the benefit
directly to the care, comfort, maintenance, support, education or use of the
person, or to pay all or any part of the benefit to the person's parent,
guardian, committee, conservator or other legal representative, to the
individual with whom the person is living, or to any other individual or entity
having the care and control of the person. The Plan, the Committee, FMC and any
Employer and their employees and agents will have fully discharged their
responsibilities to the Participant or beneficiary entitled to a payment by
making payment under this Section 22.

                                      -5-
<PAGE>

        IN WITNESS WHEREOF, FMC has caused this amended and restated Plan to be
executed in its name and behalf on this 20/th/ day of March, 2000.

                                    FMC CORPORATION

                                    By: /s/ Tom Hester
                                        ---------------------------------
                                        Member, Employee Welfare Benefits
                                        Plan Committee

                                      -6-<PAGE>

                                                                    EXHIBIT 10.7

                                FMC Corporation

                   Non-Qualified Savings and Investment Plan
                   -----------------------------------------

           (As Amended and Restated Effective as of January 1, 2000)

                                Winston & Strawn
                                    Chicago

<PAGE>

                                FMC Corporation
            Non-Qualified Deferred Compensation and Retirement Plan
            -------------------------------------------------------

           (As Amended and Restated Effective as of January 1, 2000)

                               Table of Contents
                               -----------------

<TABLE>
<CAPTION>
                                                                                  Page No.
                                                                                 ---------
<S>                                                                              <C>
Article I
Introduction........................................................................      1
------------
     Section 1.1.  Name; Purpose....................................................      1
     Section 1.2.  Administration of the Plan.......................................      1

Article II
Definitions.........................................................................      2
-----------
     Section 2.1.   Account.........................................................      2
     Section 2.2.   Account Balance.................................................      2
     Section 2.3.   Accounting Date.................................................      2
     Section 2.4.   Adopting Affiliate..............................................      2
     Section 2.5.   Affiliated Group................................................      2
     Section 2.6.   Board...........................................................      2
     Section 2.7.   Code............................................................      2
     Section 2.8.   Committee.......................................................      2
     Section 2.9.   Company.........................................................      2
     Section 2.10.  Company Stock...................................................      2
     Section 2.11.  Compensation....................................................      2
     Section 2.12.  Deferral Contributions..........................................      2
     Section 2.13.  Deferral Contributions Account..................................      3
     Section 2.14.  Effective Date..................................................      3
     Section 2.15.  Employer........................................................      3
     Section 2.16.  ERISA...........................................................      3
     Section 2.17.  Excess Compensation.............................................      3
     Section 2.18.  Full Deferral Contributions.....................................      3
     Section 2.19.  Matching Contributions..........................................      3
     Section 2.20.  Matching Contributions Account..................................      3
     Section 2.21.  Mirror Deferral Contributions...................................      3
     Section 2.22.  Participant.....................................................      3
     Section 2.23.  Permitted Investment............................................      3
     Section 2.24.  Plan............................................................      3
     Section 2.25.  Plan Year.......................................................      3
     Section 2.26.  Tax-Qualified Savings Plan......................................      3
     Section 2.27.  Year of Service.................................................      3

Article III
Plan Participation..................................................................      4
------------------
     Section 3.1.  Eligibility......................................................      4
</TABLE>

                                     -i-
<PAGE>

<TABLE>
<S>                                                                                      <C>
     Section 3.2.  Participation....................................................      4

Article IV
Deferral Contributions..............................................................      4
----------------------
     Section 4.1.  Deferral Contributions...........................................      4
     Section 4.2.  Deferral Contributions Account...................................      5

Article V
Matching Contributions..............................................................      5
----------------------
     Section 5.1.  Matching Contributions...........................................      5
     Section 5.2.  Matching Contributions Account...................................      5

Article VI
Deemed Earnings on Account Balances.................................................      6
-----------------------------------
     Section 6.1.  Deemed Investments...............................................      6
     Section 6.2.  Crediting of Deferrals and Contributions.........................      7
     Section 6.3.  Statement of Accounts............................................      7

Article VII
Establishment of Trust..............................................................      7
----------------------
     Section 7.1.  Establishment of Trust...........................................      7
     Section 7.2.  Status of Trust..................................................      7

Article VIII
Distribution of Plan Benefits.......................................................      7
-----------------------------
     Section 8.1.  Vesting of Accounts..............................................      7
     Section 8.2.  Payment of Account Balances......................................      8
     Section 8.3.  Distribution of Accounts of Certain Former Employees.............      8
     Section 8.4.  Payments in the Event of Unforeseeable Emergency.................      8
     Section 8.5.  Involuntary Distributions........................................      9
     Section 8.6.  Forfeitures......................................................      9
     Section 8.7.  Designation of Beneficiaries.....................................      9

Article IX
Amendment and Termination...........................................................      10
-------------------------
     Section 9.1.  Amendment........................................................      10
     Section 9.2.  Plan Termination.................................................      10

Article X
General Provisions..................................................................      10
------------------
     Section 10.1.  Non-Alienation of Benefits......................................      10
     Section 10.2.  Withholding for Taxes...........................................      10
     Section 10.3.  Immunity of Committee Members...................................      11
     Section 10.4.  Plan Not to Affect Employment Relationship......................      11
     Section 10.5.  Action by the Employers.........................................      11
     Section 11.6.  Effect on Other Employee Benefit Plans..........................      11
</TABLE>

                                     -ii-
<PAGE>

<TABLE>
<S>                                                                                 <C>
     Section 10.7.  Employer Liability..............................................     11
     Section 10.8.  Notices.........................................................     11
     Section 10.9.  Gender and Number; Headings.....................................     11
     Section 10.10.  Controlling Law................................................     12
     Section 10.11.  Successors.....................................................     12
     Section 10.12.  Severability...................................................     12
     Section 10.13.  Subsequent Changes.............................................     12
     Section 10.14.  Benefits Payable to Minors, Incompetents and Others............     12
</TABLE>

                                     -iii-
<PAGE>

                                FMC Corporation
                   Non-Qualified Savings and Investment Plan
                   -----------------------------------------

           (As Amended and Restated Effective as of January 1, 2000)

                                   Article I
                                 Introduction
                                 ------------

     Section 1.1.  Name; Purpose.  The Company established the FMC Deferred
                   -------------
Compensation Equivalent Retirement and Thrift Plan effective as of January 1,
1977.  That plan was amended and restated effective as of September 1, 1997 as
the FMC Corporation Non-Qualified Retirement and Thrift Plan, and it permitted a
select group of management or highly compensated employees to make deferrals and
receive contributions and benefits that could not be made or received under the
Tax-Qualified Savings Plan and FMC Corporation Employees' Retirement Program.
As of October 22, 1993, the Company adopted the Deferred Compensation Plan of
FMC Corporation, to permit a select group of management or highly compensated
employees to defer certain types of compensation not taken into account under
either the Non-Qualified Retirement and Thrift Plan or the Tax-Qualified Savings
Plan.  Effective as of December 31, 1997, the Non-Qualified Retirement and
Thrift Plan and the Deferred Compensation Plan were merged.  Effective as of
January 1, 2000, the merged plan was restated to reflect certain administrative
practices and changes, and name of the merged plan was changed to better reflect
its purpose to mirror the Tax-Qualified Savings Plan.  This document reflects
the provisions of the merged plan as in effect January 1, 2000.  Although a
rabbi trust may be established in connection with it, this Plan constitutes an
unfunded, non-qualified arrangement providing deferred compensation to a select
group of management or highly compensated employees (as defined for purposes of
Title I of ERISA) of the Company and of certain of the Company's affiliates.

     Section 1.2.  Administration of the Plan.  The Plan is administered by the
                   --------------------------
Committee.  The duties and authority of the Committee include:

     (a)  interpreting and applying the Plan's terms;

     (b)  adopting any rules or regulations the Committee deems necessary or
   desirable to operate the Plan;

     (c) making whatever determinations are permitted or required to maintain or
   administer the Plan; and

     (d) taking any other actions that prove necessary to administer the Plan
   properly, in accordance with its terms.

Any decision of the Committee as to any matter within its authority will be
final, binding and conclusive upon the Company, any Employer and each
Participant, former Participant, designated beneficiary or other person claiming
under or through any Participant or designated

                                      -1-
<PAGE>

beneficiary. No additional authorization or ratification by the Board is
necessary for the Committee to act on any matter within its authority. An action
taken by the Committee as to a Participant will not be binding on the Committee
regarding an action to be taken as to any other Participant. A member of the
Committee may be a Participant, but he or she may not participate in any
decision that directly affects his or her rights under the Plan, or the
computation of his or her Plan benefits. Each determination required or
permitted under the Plan will be made by the Committee in its sole and absolute
discretion. The Committee may delegate some or all of its duties or
responsibilities.

                                  Article II
                                  Definitions
                                  -----------

     Section 2.1.  Account means a bookkeeping Account maintained by the Company
                   -------
for a Participant, including his or her Deferral Contributions Account and
Matching Contributions Account.

     Section 2.2.  Account Balance means the value, as of a specified date, of
                   ---------------
the Participant's Account, Deferral Contributions Account or Matching
Contributions Account.

     Section 2.3.  Accounting Date means each business day of the Plan Year.
                   ---------------

     Section 2.4.  Adopting Affiliate means an entity that, together with the
                   ------------------
Company, is considered as a single employer under Section 414(b), (c), (m) or
(o) of the Code, and has adopted the Tax-Qualified Savings Plan for its
employees.

     Section 2.5.  Affiliated Group the group that consists of the Company and
                   ----------------
every other entity that, together with the Company, is considered as a single
employer under Section 414(b), (c), (m) or (o) of the Code.

     Section 2.6.  Board means the Board of Directors of the Company.
                   -----

     Section 2.7.  Code means the Internal Revenue Code of 1986, as amended.
                   ----

     Section 2.8.  Committee means the FMC Corporation Employee Welfare Benefits
                   ---------
Plan Committee, or its delegate.

     Section 2.9.  Company means FMC Corporation.
                   -------

     Section 2.10.  Company Stock means the common stock of the Company.
                    -------------

     Section 2.11.  Compensation has the same meaning as under the Tax-Qualified
                    ------------
Savings Plan, except that it also includes amounts deferred under this Plan.

     Section 2.12.  Deferral Contributions means the Mirror Deferral
                    ----------------------
Contributions and Full Deferral Contributions credited on behalf of a
Participant pursuant to Section 4.1.

                                      -2-
<PAGE>

     Section 2.13.  Deferral Contributions Account means the Account maintained
                    ------------------------------
on behalf of a Participant to represent the amount of the Deferral Contributions
credited in his or her behalf, as adjusted to account for deemed gains and
losses, withdrawals and distributions.

     Section 2.14.  Effective Date means January 1, 2000, the effective date of
                    --------------
this amended and restated Plan.

     Section 2.15.  Employer means the Company and/or any Adopting Affiliate.
                    --------

     Section 2.16.  ERISA means the Employee Retirement Income Security Act of
                    -----
1974, as amended.

     Section 2.17.  Excess Compensation means an amount that would be
                    -------------------
Compensation, except that it exceeds the annual compensation limit under Section
401(a)(17), as adjusted, (for 2000, $170,000), as set forth in the Tax-Qualified
Savings Plan.

     Section 2.18.  Full Deferral Contributions means amounts credited to a
                    ---------------------------
Participant pursuant to subsection 4.1(b).

     Section 2.19.  Matching Contributions means the contributions credited on
                    ----------------------
behalf of a Participant pursuant to Section 5.1.

     Section 2.20.  Matching Contributions Account means the Account maintained
                    ------------------------------
on behalf of a Participant to represent the amount of Matching Contributions
credited in his or her behalf, as adjusted to account for deemed gains and
losses, withdrawals and distributions.

     Section 2.21.  Mirror Deferral Contributions means the contributions
                    -----------------------------
credited to a Participant pursuant to subsection 4.1(a).

     Section 2.22.  Participant means any eligible employee of an Employer who
                    -----------
participates in the Plan pursuant to Article III.

     Section 2.23.  Permitted Investment means a notional fund or type of
                    --------------------
notional investment approved by the Committee for Plan purposes.  One Permitted
Investment will be Company Stock.

     Section 2.24.  Plan means this FMC Corporation Non-Qualified Savings and
                    ----
Investment Plan (As Amended and Restated Effective as of January 1, 2000).

     Section 2.25.  Plan Year means the calendar year.
                    ---------

     Section 2.26.  Tax-Qualified Savings Plan means the FMC Corporation Savings
                    --------------------------
and Investment Plan, as amended from time to time.

                                      -3-
<PAGE>

     Section 2.27.  Year of Service means, as to a Participant, the
                    ---------------
Participant's number of calendar months of employment by the Affiliated Group
(including any interruption of employment of up to 12 months) divided by 12.  A
partial month counts as a whole month, and any fractional year of service is
ignored.  A period longer than 12 months for which a Participant does not
receive Compensation, including (without limitation) any unpaid leave of absence
is not counted in determining the Participant's Years of Service, nor does any
other interruption of employment longer than 12 months.

                                  Article III
                              Plan Participation
                              ------------------

     Section 3.1.  Eligibility.  An employee of an Employer will be eligible to
                   -----------
participate in any Plan Year if he or she meets all of the following conditions:

     (a) the employee is part of a select group of management or highly
   compensated employees, within the meaning of Title I of ERISA;

     (b) the employee is eligible to participate in the Tax-Qualified Savings
   Plan for the Plan Year;

     (c) the employee is expected to receive Excess Compensation during the Plan
   Year; and

     (d) the Committee, or its delegate, designates the employee as eligible to
   participate in the Plan.

     Section 3.2.  Participation.  An employee who meets the conditions of
                   -------------
Section 3.1 becomes a Participant by executing and filing with the Committee a
deferral election form, in the manner and at the time required under Article IV.
Once an individual is a Participant, he or she will remain a Participant for so
long as he or she has an Account Balance, although a Participant may continue to
make Deferral Contributions and receive allocations under the Plan only so long
as he or she remains an eligible employee.

                                  Article IV
                            Deferral Contributions
                            ----------------------

     Section 4.1.  Deferral Contributions.  Each eligible employee who has made
                   ----------------------
an election to defer a portion of his or her Compensation under the Tax-
Qualified Savings Plan for a Plan Year may elect to defer an additional amount
under this Plan for that Plan Year, as Mirror Deferral Contributions, Full
Deferral Contributions, or both.

     (a) A Mirror Deferral Contribution is an amount, between 1% and 20%
   (between 1% and 15%, before October 1, 1999) of the Participant's
   Compensation and Excess Compensation, that the Participant cannot defer
   under the Tax-Qualified Savings

                                      -4-
<PAGE>

     Plan because it exceeds the limit on deferrals under Code Section 402(g),
     represents a deferral of Excess Compensation, or represents an amount that
     the Participant cannot defer under the Tax-Qualified Savings Plan because
     of the limits of Code Section 415(c).

          (b)  A Full Deferral Contribution is an amount, between 1% and 80%
     (between 1% and 85%, before October 1, 1999) of the total of the
     Participant's Compensation and Excess Compensation.

A Participant's Mirror Deferral Contributions and Full Deferral Contributions
for a Plan Year may not exceed the sum of his or her Compensation and Excess
Compensation. A Participant must make his or her deferral election for a Plan
Year no later than the last day of the preceding Plan Year, and may not change
his or her deferral election during the Plan Year. Notwithstanding the
foregoing, when an employee first becomes an eligible employee, he or she may
make a deferral election no later than thirty days after becoming an eligible
employee, so long as the deferral election applies to Compensation and Excess
Compensation earned during the Plan Year after the date of the deferral
election.

          4.2. Deferral Contributions Account.  The Committee will establish and
               ------------------------------
maintain a Deferral Contributions Account on behalf of each Participant who
elects to make Deferral Contributions. The Deferral Contributions Account will
be a bookkeeping account maintained by the Company, and will reflect the Mirror
Deferral Contributions and Full Deferral Contributions the Participant has
elected to make to the Plan, as adjusted pursuant to Article VI to reflect
deemed gains and losses, withdrawals and distributions.

                                   Article V
                            Matching Contributions
                            ----------------------

          Section 5.1. Matching Contributions. Each Participant will be credited
                       ----------------------
with a Matching Contribution in an amount equal to the matching contributions
that would have been made with respect to his or her Mirror Deferral
Contributions, if they had been made under the Tax-Qualified Savings Plan, at
such time as described in Section 6.2.

          Section 5.2. Matching Contributions Account. The Committee will
                       ------------------------------
establish and maintain a Matching Contributions Account on behalf of each
Participant who is credited with Matching Contributions. The Matching
Contributions Account will be a bookkeeping account maintained by the Company,
and will reflect the Matching Contributions that have been credited to the
Participant, as adjusted pursuant to Article VI to reflect deemed gains and
losses, withdrawals and distributions.

                                      -5-
<PAGE>

                                  Article VI
                      Deemed Earnings on Account Balances
                      -----------------------------------

     Section 6.1.  Deemed Investments.
                   ------------------

     (a)  Each Participant may designate from time to time, in the manner
 prescribed by the Committee, that all or a portion of his or her Deferral
 Contributions Account be deemed to be invested in one or more Permitted
 Investments. The Committee will establish rules governing the dates as of which
 amounts will be deemed to be invested in the Permitted Investments chosen by
 the Participant, and the time and manner in which amounts will be deemed to be
 transferred from one Permitted Investment to another, pursuant to a
 Participant's election to change his or her deemed investments. The Committee
 will also establish a default Permitted Investment, in which the Deferral
 Contributions Account of a Participant who fails to make an investment election
 will be deemed to be invested. Effective September 1, 1997, the Committee's
 Plan investment election rules permit a Participant to transfer any or all of
 his or her Account (including any or all of his or her Matching Contribution
 Account) out of the Company Stock Permitted Investment.

     (b)  All amounts credited to a Participant's Matching Contributions Account
 will be deemed to be invested initially in Company Stock. For periods beginning
 prior to September 1, 1997, a Participant was prohibited from transferring any
 portion of his or her Matching Contributions Account into a Permitted
 Investment other than Company Stock.

     (c)  Each Account will be deemed to receive all interest, dividends,
 earnings and other property which would be received by it if it were actually
 invested in the Permitted Investment in which it is deemed to be invested.
 Similarly, each Account will be deemed to suffer all investment losses and
 other diminutions it would suffer if it were actually invested in the Permitted
 Investment in which it is deemed to be invested. Gains and losses will be
 credited to or debited from each Account at the times and in the manner
 specified by the Committee.

     (d)  Elections required or permitted to be made pursuant to this Article VI
 must be made only by the Participant. Notwithstanding the foregoing, if a
 Participant dies before his or her entire Account Balance is distributed, or if
 the Committee determines that a Participant is legally incompetent or otherwise
 incapable of managing his or her own affairs, the Committee may itself make
 Plan elections on behalf of the Participant, or may declare that the
 Participant's designated beneficiary, legal representative or near relative
 will be permitted to make Plan elections on behalf of the Participant.

     (e)  Neither the Company nor the Plan need make any Permitted Investment.
 If, from time to time, the Company actually makes an investment similar to a
 Permitted Investment, that investment will be solely for the Company's own
 account, and the

                                      -6-
<PAGE>

          Participant will have no right, title or interest in that investment.
          Each Participant has only the rights of an unsecured creditor of the
          Company or any Employer, as to any amount owing to him or her under
          the Plan.

               6.2.  Crediting of Deferrals and Contributions. The Company will
                     ----------------------------------------
credit all Deferral Contributions to a Participant's Deferral Contributions
Account within a reasonable period of time after the date they would have been
paid to the Participant if the Participant had not elected to defer them. The
Company will credit all Matching Contributions made on a Participant's behalf to
the Participant's Matching Contributions Account within a reasonable period
after the date they would have been contributed to the Tax-Qualified Savings
Plan, if they could have been permitted allocated under that Plan.

               6.3.  Statement of Accounts. Within a reasonable period of time
                     ---------------------
after the end of each calendar quarter, the Company will furnish each
Participant with a statement showing the value of his or her Account as of the
end of that calendar quarter.

                                  Article VII
                            Establishment of Trust
                            ----------------------

               Section 7.1. Establishment of Trust. The Company may, in its sole
                            ----------------------
discretion, establish a grantor trust in order to accumulate assets to pay Plan
obligations. The assets and income of any trust established under this Plan will
be subject to the claims of the Employers' general creditors, but only to the
extent they are attributable to the contributions of that individual Employer.
The establishment or maintenance of a Plan trust will not affect the Employers'
liability to pay Plan benefits, except as and to the extent amounts from the
trust are actually used to pay a Participant's Plan benefits. If the Company
does establish a trust under the Plan, the Company will determine how much will
be contributed to the trust and when, and trust assets will be invested in
accordance with the terms of the trust.

               Section 7.2. Status of Trust. A Participant will have no direct
                            ---------------
or secured claim in any asset of the trust, or in specific assets of the Company
or of his or her Employer, and will have the status of a general unsecured
creditor of his or her Employer, for any amounts due under this Plan. The assets
and income of any trust established in connection with this Plan will be subject
to the claims of each Employer's creditors, but only to the extent those assets
are attributable to the contributions of that individual Employer.

                                 Article VIII
                         Distribution of Plan Benefits
                         -----------------------------

               Section 8.1. Vesting of Accounts. Each Participant will at all
                            -------------------
times be fully vested in his or her Deferral Contributions Account. A
Participant's vested interest in his or her Matching Contributions Account is
determined in the same manner, at the same time and to the same extent as his or
her vested interest in the matching contribution account under the Tax-Qualified
Savings Plan.

                                      -7-
<PAGE>

          Section 8.2.  Payment of Account Balances.  This Section 8.2 governs
                        ---------------------------
payment of most Account Balances.  The Account Balances of certain former
employees will be paid as described in Section 8.3.

          (a)  Generally, the vested portion of a Participant's Account Balance
     will be paid to him or her (or, if the Participant has died, to his or her
     designated beneficiary) in cash, in a single lump sum, as of the last day
     of the sixth calendar month after the calendar month in which the
     Participant terminated employment with the Company and all other members of
     the Affiliated Group. The only in-service withdrawals permitted under the
     Plan are described in Section 8.4.

          (b)  Notwithstanding subsection 8.2(a), a Participant to whom this
     Section 8.2 applies may make an irrevocable election to have the vested
     portion of his or her Account paid in any form of distribution permitted
     under the Tax-Qualified Savings Plan. Payment under this subsection 8.2(b)
     will begin as of the last day of the sixth calendar month after the
     calendar month in which the Participant terminated employment with the
     Company and all other members of the Affiliated Group or, if earlier,
     within 90 days after the Participant's death. A Participant must elect a
     form of payment under this subsection 8.2(b) no later than the last day of
     the first calendar month following the calendar month in which the
     Participant terminated employment with the Company and all other members of
     the Affiliated Group. Notwithstanding any other provision of this Article
     VIII, the Committee may establish a minimum amount of any installment
     payment to be made under the Plan.

          Section 8.3. Distribution of Accounts of Certain Former Employees. The
                       -----------------------------------------------------
vested portions of the Accounts of most Participants who terminated employment
with the Company and all other members of the Affiliated Group before September
1, 1997 were paid to them (or, if they had died, to their designated
beneficiaries) in cash, in lump sums, on April 1, 1998. Notwithstanding the
foregoing, some of those Participants made irrevocable elections before January
1, 1998 to have the vested portions of their Accounts paid in distribution forms
permitted under the Tax-Qualified Savings Plan, beginning, in each case, at a
later date selected by the Participant. The vested portions of the Account of
each Participant who made an irrevocable election described in the preceding
sentence will be distributed in the manner elected by the Participant, with
payments commencing at the time he or she elected or, if earlier, within 90 days
after his or her death. Notwithstanding any other provision of this Article
VIII, the Committee may establish a minimum amount of any installment payment to
be made to a Participant who made an election described in this Section 8.3.

          Section 8.4. Payments in the Event of Unforeseeable Emergency. A
                       ------------------------------------------------
Participant may request, in the manner and within the time constraints
established by the Committee, to receive an emergency payment of some or all of
his or her vested Account Balance. The Committee will authorize an emergency
payment under this Section 8.4 only if the Participant experiences an
unforeseeable emergency. An emergency payment must be limited to the amount the
Participant reasonably needs to satisfy the unforeseeable emergency. An
unforeseeable emergency is severe financial hardship to the Participant
resulting from:

                                      -8-
<PAGE>

     (a)  a sudden and unexpected illness or accident to the Participant or to
his or her dependent (as defined in Code Section 152(a));

     (b)  the Participant's losing his or her property due to casualty; or

     (c)  other similar extraordinary and unforeseeable circumstances arising as
a result of unforeseeable events beyond the Participant's control.

Whether a Participant suffers an unforeseeable emergency depends upon the facts
of each case; in no event, however, may the Participant receive an emergency
payment if his or her hardship is or may be relieved through reimbursement or
compensation by insurance or otherwise, by liquidation of the Participant's
assets (to the extent liquidation of those assets would not itself cause severe
financial hardship) or by ceasing to make deferrals under the Plan.  The need to
send a Participant's child to college or the desire to purchase a home are not
unforeseeable emergencies.

          Section 8.5. Involuntary Distributions. Notwithstanding the foregoing
                       -------------------------
provisions of this Article VIII, the Committee may on its own initiative
authorize the Company to distribute to any Participant (or, if the Participant
has died, to his or her designated beneficiary) all or any part of the
Participant's vested Account Balance. Payment under the preceding sentence is
specifically authorized if there is a change in tax law, a published ruling or a
similar announcement issued by the Internal Revenue Service, a Treasury
Regulation, a decision by a court of competent jurisdiction involving a
Participant or designated beneficiary, or a closing agreement made under Code
Section 7121 involving a Participant, that the Committee determines will cause
the Participant to have or recognize income for federal income tax purposes as
to amounts deferred under this Plan.

          Section 8.6. Forfeitures. The portion of a Participant's Matching
                       -----------
Contributions Account that is not fully vested will become a forfeiture as and
to the same extent it would have become a forfeiture under the Tax-Qualified
Savings Plan, if the contributions to which it is attributable could have been
allocated under that plan, and will be applied in the same manner as if it had
become a forfeiture under the Tax-Qualified Savings Plan.

          Section 8.7. Designation of Beneficiaries. Each Participant may name
                       ----------------------------
any person or persons to whom his or her vested Account Balance will be paid if
the Participant dies before they have been fully distributed. Each beneficiary
designation will revoke all prior beneficiary designations made by that
Participant. The Committee will designate the time and manner in which a
Participant must made a beneficiary designation, but will not require a
Participant to obtain the consent of his or her current beneficiary to the
naming a new or additional beneficiaries. A beneficiary designation will be
effective only if it meets the requirements specified by the Committee. If a
Participant fails to designate a beneficiary, or if the Participant's
beneficiary dies before the Participant does or before receiving the full amount
to which he or she is entitled, the Committee may, in its discretion, pay the
vested portion of the Participant's Account Balance (or the portion that remains
unpaid) to one or more of the Participant's relatives by blood, adoption or
marriage, in the proportions it determines, or to the

                                      -9-
<PAGE>

legal representative of the estate of the later to die of the Participant and
his or her designated beneficiary.

                                  Article IX
                           Amendment and Termination
                           -------------------------

     Amendment and Termination.  The Company has the right to amend or terminate
     -------------------------
the Plan by action of the Board, or by action of an officer or Company employee
or committee authorized by the Board to amend the Plan. Any Employer may
terminate its participation in the Plan at any time by appropriate action, in
its discretion. The Plan will automatically terminate as to any Employer upon
termination of the Employer's participation in the Tax-Qualified Savings Plan.
Notwithstanding the foregoing, no Plan amendment or termination may adversely
affect the right of a Participant (or his or her designated beneficiary) to
vested benefits already accrued in the Participant's behalf under this Plan,
unless the Participant (or beneficiary) consents to the amendment.

                                   Article X
                               General Provisions
                               ------------------

     Section 10.1.  Non-Alienation of Benefits.  A Participant's rights to the
                    --------------------------
amounts credited to his or her Account under the Plan cannot be granted,
transferred, pledged or otherwise assigned, in whole or in part, by the
voluntary or involuntary acts of any person, or by operation of law, and will
not be liable or taken for any obligation of the Participant. Any attempted
grant, transfer, pledge or assignment of a Participant's rights to Plan benefits
will be null and void and without any legal effect.

     Section 10.2.  Withholding for Taxes.  Notwithstanding anything contained
                    ---------------------
in this Plan to the contrary, each Employer will withhold from any distribution,
deferral or accrual under the Plan whatever amount or amounts may be required to
comply with the tax withholding provisions of the Code or any State income tax
act for purposes of paying any income, estate, inheritance, employment or other
tax attributable to any amounts distributable or creditable under the Plan.

     Section 10.3.  Immunity of Committee Members.  The members of the Committee
                    -----------------------------
may rely upon any information, report or opinion supplied to them by any officer
of an Employer or any legal counsel, independent public accountant or actuary,
and will be fully protected in relying on any such information, report or
opinion. No member of the Committee will have any liability to the Company, any
Employer or any Participant, former Participant, designated beneficiary, person
claiming under or through any Participant or designated beneficiary, or other
person interested or concerned in connection with any Plan decision made by that
member of the Committee, so long as the decision was based on any such
information, report or opinion, and the Committee member relied on it in good
faith.

     10.4.  Plan Not to Affect Employment Relationship.  Neither the adoption of
            ------------------------------------------
the Plan nor its operation will in any way affect the right and power of an
Employer to dismiss or

                                     -10-
<PAGE>

otherwise terminate the employment, or change the terms of employment or amount
of compensation, of any Participant at any time, for any reason or without
cause. By accepting any payment under this Plan, each Participant, former
Participant, and designated beneficiary, and each person claiming under or
through a Participant, former Participant or designated beneficiary, is
conclusively bound by any action or decision taken or made under the Plan by the
Committee, the Company or any Employer

     10.5.  Action by the Employers.  Any action required or permitted to be
            -----------------------
taken under the Plan by an Employer must be taken by its Board of Directors, by
a duly authorized committee of its Board of Directors, or by a person or persons
authorized by its Board of Directors or an authorized committee.

     11.6.  Effect on Other Employee Benefit Plans.  Any compensation deferred
            --------------------------------------
or accrued under this Plan, and any amount credited to a Participant's Account
under this Plan, will not be included in the Participant's compensation or
earnings for purposes of computing benefits under any other employee benefit
plan maintained or contributed to by the Employer, except as and to the extent
required under the terms of that employee benefit plan or applicable law.

     10.7.  Employer Liability.  Each Employer is liable to pay the Plan
            ------------------
benefits earned or accrued for its eligible employees who are Participants. With
the consent of the Board (or of a duly appointed delegate of the Board), any
Employer may assume any other Employer's Plan liabilities and obligations. To
the extent that an Employer assumes another Employer's Plan liabilities or
obligations, the second Employer will be released from any continuing obligation
under the Plan. At the Company's request, a Participant or designated
beneficiary will sign any documents reasonably required by the Company to
effectuate the purposes of this Section 10.7.

     10.8.  Notices.  Any notice required to be given by the Company, any
            -------
Employer or the Committee must be in writing and must be delivered in person, by
registered mail, return receipt requested, or by regular mail, telecopy or
electronic mail. Any notice given by mail will be deemed to have been given on
the date it was mailed, correctly addressed to the last known address of the
person to whom the notice is to be given.

     10.9.  Gender, Number and Headings.  Except where the context otherwise
            ---------------------------
requires, in this Plan the masculine gender includes the feminine, the feminine
includes the masculine, the singular includes the plural, and the plural
includes the singular. Headings are inserted for convenience only, are not part
of the Plan, and are not to be considered in the Plan's construction.

     10.10. Controlling Law. The Plan will be construed according to the
            ---------------
internal laws of Illinois, to the extent they are not preempted by any
applicable federal law.

     10.11. Successors. The Plan is binding on all persons entitled to benefits
            ----------
under it, on their respective heirs and legal representatives, on the Committee
and its successor, and on any Employer and its successor, whether by way of
merger, consolidation, purchase or otherwise.

                                     -11-
<PAGE>

     10.12.  Severability.  If any provision of the Plan is held to be illegal
             ------------
or invalid for any reason, that illegality or invalidity will not affect the
remaining provisions of the Plan, and the Plan will be enforced and
administered, from that point forward, as if the invalid provisions had never
been part of it.

     10.13.  Subsequent Changes.  All benefits to which any Participant,
             ------------------
designated beneficiary or other person is entitled under this Plan will be
determined according to the terms of the Plan as in effect when the Participant
ceases to be an eligible employee, and will not be affected by any subsequent
change in Plan provisions, unless the Participant again becomes an eligible
employee, or unless and to the extent the subsequent change expressly applies to
the Participant, his or her designated beneficiary or other person claiming
through or on behalf of the Participant or designated beneficiary.

     Section 10.14.  Benefits Payable to Minors, Incompetents and Others.  If
                     ---------------------------------------------------
any benefit is payable to a minor, an incompetent, or a person otherwise under a
legal disability, or to a person the Committee reasonably believes to be
physically or mentally incapable of handling and disposing of his or her
property, the Committee has the power to apply all or any part of the benefit
directly to the care, comfort, maintenance, support, education or use of the
person, or to pay all or any part of the benefit to the person's parent,
guardian, committee, conservator or other legal representative, to the
individual with whom the person is living, or to any other individual or entity
having the care and control of the person. The Plan, the Committee, FMC, any
Employer and their employees and agents will have fully discharged their
responsibilities to the Participant or beneficiary entitled to a payment by
making payment under this Section 10.14.

                                     -12-
<PAGE>

     IN WITNESS WHEREOF, the Company has caused this amended and restated Plan
to be executed in its name and behalf on this 20/th/ day of March, 2000.

                                       FMC CORPORATION

                                       By: /s/ Tom Hester
                                           -------------------------------------
                                           Member, Employee Welfare Benefits
                                           Plan Committee

                                     -13-

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