Document:

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                                                                Exhibit (10)(d)
                            THE LUBRIZOL CORPORATION
                          EXCESS DEFINED BENEFIT PLAN
                              (As Amended 10/1/00)

         The Lubrizol Corporation hereby establishes, effective as of January
1, 1986, The Lubrizol Corporation Excess Defined Benefit Plan (the "Plan") for
the purpose of providing supplemental benefits to certain employees, as
permitted by Section 3(36) of the Employee Retirement Income Security Act of
l974.

                                   ARTICLE I

                          DEFINITIONS AND CONSTRUCTION

         1.1 Definitions. For the purposes hereof, the following words and
phrases shall have the meanings indicated, unless a different meaning is
plainly required by the context:

                  (a) Code. the term "Code" shall mean the Internal Revenue
         Code as amended from time to time. Reference to a section of the Code
         shall include such section and any comparable section or sections of
         any future legislation that amends, supplements, or supersedes such
         section.

                  (b) Company. The term "Company" shall mean The Lubrizol
         Corporation, an Ohio corporation, its corporate successors and the
         surviving corporation resulting from any merger of The Lubrizol
         Corporation with any other corporation or corporations.

                  (c) Lubrizol Pension Plan. The term "Lubrizol Pension Plan"
         shall mean The Lubrizol Corporation Revised Pension Plan as the same
         shall be in effect on the date of a Participant's retirement, death,
         or other termination of employment.

                  (d) Participant. Effective June 22, 1992, the term
         "Participant" shall mean any person employed by the Company who is
         listed on Appendix A attached hereto, or who is designated by the
         Board of Directors as an officer for the purposes of Section 16 of the
         Securities Exchange Act of 1934, or whose benefits under the Lubrizol
         Pension Plan are limited by the application of Section 401(a)(17) of
         the Internal Revenue Code of 1986, as amended.

                  (e) Plan. The term "Plan" shall mean the excess defined
         benefit pension plan as set forth herein, together with all amendments
         hereto, which Plan shall be called "The Lubrizol Corporation Excess
         Defined Benefit Plan."

                  (f) Trust. The term "Trust" shall mean The Lubrizol
         Corporation Excess Defined Benefit Plan Trust established pursuant to
         the Trust Agreement.

                  (g) Trust Agreement. The term "Trust Agreement" shall mean
         The Lubrizol Corporation Excess Defined Benefit Plan Trust Agreement.

         1.2. Additional Definitions. All other words and phrases used herein
shall have the meanings given them in the Lubrizol Pension Plan, unless a
different meaning is clearly required by the context.

                                  ARTICLE II

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                          SUPPLEMENTAL PENSION BENEFIT

         2.1 Eligibility. Effective January 1, 1997, A Participant who retires,
dies, or otherwise terminates his employment with the Company and its
subsidiaries and

                  (a) whose benefits under the Lubrizol Pension Plan are
         limited by the provisions of Section 401(a)(17) or 415 of the Code,

                  (b) who either was a Participant on January 1, 1989 or had
         attained age 55 on January 1, 1989, and thereafter became a
         Participant, and whose benefits under the Lubrizol Pension Plan are
         curtailed due to the revision of the pension benefit formula,
         effective as of January 1, 1989, to comply with the requirements of
         the Tax Reform Act of 1986, as amended,

                  (c) who participated in The Lubrizol Corporation Deferred
         Compensation Plan for Officers (which was adopted effective July 25,
         1994), or

                  (d) who participated in The Lubrizol Corporation Executive
         Council Deferred Compensation Plan (which was adopted effective
         January 1, 1997)

shall be eligible for a supplemental pension benefit determined in accordance
with the provisions of Section 2.2.

         2.2 Amount. Effective January 1, 1997, subject to the provisions of
Article III, the monthly supplemental pension benefit payable to an eligible
Participant shall be an amount which when added to the monthly pension payable
to such Participant under the Lubrizol Pension Plan (prior to any reduction
applicable to an optional method of payment) equals the monthly pension benefit
which would have been payable under the Lubrizol Pension Plan (prior to any
reduction applicable to an optional method of payment and adjusted for any
amount payable under The Lubrizol Corporation Excess Defined Contribution Plan
which is attributable to The Lubrizol Corporation Employees' Profit-Sharing
Plan and which would have affected the benefit that the Participant would have
received under the Lubrizol Pension Plan had it been payable from The Lubrizol
Corporation Employees' Profit-Sharing Plan) if the limitations of Section
401(a)(17) and 415 of the Code were not in effect and, (if he is a Participant
described in Section 2.1(ii)), his benefits had not been curtailed due to the
revision of the Lubrizol Pension Plan effective as of January 1989, to comply
with the provisions of the Tax Reform Act of 1986, as amended, and, (if he is a
Participant described in Section 2.1(iii)), if he did not participate in The
Lubrizol Corporation Deferred Compensation Plan for Officers (which was adopted
effective July 25, 1994) or in The Lubrizol Corporation Executive Council
Deferred Compensation Plan (which was adopted effective January 1, 1997).

         2.3 Payment. The terms of payment of the supplemental pension benefit
shall be identical to those specified in the Lubrizol Pension Plan for the type
of benefit the Participant receives under the Lubrizol Pension Plan.

         2.4 Vesting. Each Participant as of December 31, 1993, shall be 100
percent vested in his supplemental pension benefit determined in accordance
with the provisions of Section 2.2. Each new Participant after December 31,
1993, shall be vested in his supplemental pension

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benefit under this Plan as determined in accordance with the vesting provisions
of the Lubrizol Pension Plan.

                                  ARTICLE III

                              PAYMENT OF BENEFITS

         3.1  Payment to Participant.  (Effective November 27, 1995)

                  (a) Each Participant who terminates employment with the
         Company and its related corporations shall receive payment of his
         supplemental pension benefit under the Plan determined as of his date
         of termination of employment in the standard form of benefit of a
         monthly retirement benefit commencing within 30 days following
         employment termination and payable to such Participant for his
         lifetime following such employment termination, with the continuance
         to his Beneficiary of such amount after his death for the remainder,
         if any, of the 120-month term that commenced with the date as of which
         the first payment of such monthly benefit is made, and with any such
         monthly benefits remaining unpaid upon the death of the survivor of
         the Participant and his Beneficiary to be made to the estate of such
         survivor.

                  (b) Participants may instead elect within a 60 day period
         commencing 90 days prior to employment termination to receive the
         actuarial equivalent of the standard form of benefit determined under
         paragraph (a), on the date of employment termination, in accordance
         with any one of the following options:

                           (i) for Participants hired prior to February 1,
                  1984, a single lump-sum payment payable within 30 days
                  following employment termination;

                           (ii) effective October 1, 2000, for Participants
                  hired prior to February 1, 1984, a single lump-sum payment
                  payable within 30 days following the end of the calendar year
                  in which the Participant's employment terminated. Interest on
                  the lump-sum deferral shall accrue and be paid with the
                  lump-sum; such interest to be computed at the applicable
                  interest rate, as defined in Section 417(e)(3)(A)(ii)(II) of
                  the Code, in effect on the date of the employment
                  termination.

                           (iii) a reduced monthly retirement benefit
                  commencing within 30 days following employment termination
                  and payable to such Participant for his lifetime following
                  such employment termination, with the continuance of a
                  monthly benefit equal to fifty percent (50%) of such reduced
                  amount after his death to the Participant's Beneficiary
                  during the lifetime of the Beneficiary, provided that such
                  Beneficiary is living at the time of such Participant's
                  employment termination and survives such Participant;

                           (iv) a reduced monthly retirement benefit commencing
                  within 30 days following employment termination and payable
                  to such Participant during his lifetime following his
                  termination, with the continuance of a monthly benefit equal
                  to one hundred percent (100%) of such reduced amount after
                  his death to the Participant's Beneficiary during the
                  lifetime of the Beneficiary, provided such Beneficiary is
                  living at the time of such Participant's termination and
                  survives such Participant.
<PAGE>   4

         Such optional forms of payment described above shall be calculated
using the same actuarial factors and interest rates used under The Lubrizol
Corporation Pension Plan (or its successor) as in effect on the date of
employment termination; provided, however, that for any person who was a
Participant as of December 31, 1993, who elects to have his supplemental
pension benefit paid in a single lump-sum payment, the interest rate used to
discount the portion of the Participant's supplemental pension benefit which
represents his accrued benefit as of December 31, 1993, shall be the arithmetic
average of the 7-day compound yield rates for the six full calendar months
prior to the month of termination as published in Donoghue's Tax-Free MONEY
FUND AVERAGE which is reported weekly in Barron's; provided further that such
rate with respect to any month shall be the rate reported in the first issue of
Barron's published during such month.

         Notwithstanding the foregoing provisions of the Plan to the contrary,
if the present actuarial value of any retirement benefit or survivor benefit
under the Plan to any person, determined as described above, is less than
$25,000, such benefit shall be paid in a single lump-sum payment to such person
within 30 days following employment termination.

         3.2 Payment in the Event of Death Prior to Commencement of
Distribution. If a Participant dies prior to commencement of benefits under the
Plan, his surviving spouse, if any, shall be eligible for a survivor benefit
which is equal to one-half of the reduced monthly benefit the Participant would
have received under the Plan if the Participant had retired on the day before
his death and had elected to receive his benefit under the Lubrizol Pension
Plan in a 50 percent joint and survivor annuity form. In making the
determinations and reductions required in this Section 3.2, the Company shall
apply the assumptions then in use under the Lubrizol Pension Plan. For purposes
hereof, a surviving spouse shall only be eligible for a benefit under this
Section 3.2, if such spouse had been married to the deceased Participant for at
least one year as of the date of the Participant's death.

         3.3 Special Form of Benefit for E. Victor Luoma. Notwithstanding the
first sentence of Section 3.1, E. Victor Luoma may elect prior to his
retirement or other termination of employment to receive payment of his
supplemental pension benefit under the Plan in the form of a single sum amount,
determined and payable in accordance with the second and third sentences of
Section 3.1.

         3.4 Lump Sum Form of Benefit for Roger Y. K. Hsu. Effective January 1,
1996, notwithstanding the provisions of Section 3.1(b), Roger Y. K. Hsu shall
receive payment of his supplemental pension benefit under the Plan in the form
of a single sum amount.

                                   ARTICLE IV

                                 ADMINISTRATION

         The Company shall be responsible for the general administration of the
Plan, for carrying out the provisions hereof, and for making, or causing the
Trust to make, any required supplemental benefit payments. The Company shall
have all such powers as may be necessary to carry out the provisions of the
Plan, including the power to determine all questions relating to eligibility
for and the amount of any supplemental pension benefit and all questions
pertaining to claims for benefits and procedures for claim review; to resolve
all other questions arising under the Plan, including any questions of
construction; and to take such further action as the

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Company shall deem advisable in the administration of the Plan. The Company may
delegate any of its powers, authorities, or responsibilities for the operation
and administration of the Plan to any person or committee so designated in
writing by it and may employ such attorneys, agents, and accountants as it may
deem necessary or advisable to assist it in carrying out its duties hereunder.
The actions taken and the decisions made by the Company hereunder shall be
final and binding upon all interested parties.

                                   ARTICLE V

                           AMENDMENT AND TERMINATION

         The Company reserves the right to amend or terminate the Plan in whole
or in part at any time and to suspend operation of the Plan, in whole or in
part, at any time, by resolution or written action of its Board of Directors or
by action of a committee to which such authority has been delegated by the
Board of Directors; provided, however, that no amendment shall result in the
forfeiture or reduction of the interest of any Participant or person claiming
under or through any one or more of them pursuant to the Plan. Any amendment of
the Plan shall be in writing and signed by authorized individuals.

                                   ARTICLE VI

                                 MISCELLANEOUS

         6.1 Non-Alienation of Retirement Rights or Benefits. No Participant
shall encumber or dispose of his right to receive any payments hereunder, which
payments or the right thereto are expressly declared to be non-assignable and
non-transferable. If a Participant attempts to assign, transfer, alienate or
encumber his right to receive any payment hereunder or permits the same to be
subject to alienation, garnishment, attachment. execution, or levy of any kind,
then thereafter during the life of such Participant, and also during any period
in which any Participant is incapable in the judgment of the Company of
attending to his financial affairs, any payments which the Company is required
to make hereunder may be made, in the discretion of the Company, directly to
such Participant or to any other person for his use or benefit or that of his
dependents, if any, including any person furnishing goods or services to or for
his use or benefit or the use or benefit of his dependents, if any. Each such
payment may be made without the intervention of a guardian, the receipt of the
payee shall constitute a complete acquittance to the Company with respect
thereto, and the Company shall have no responsibility for the proper allocation
thereof.

         6.2 Plan Non-Contractual. Nothing herein contained shall be construed
as a commitment or agreement on the part of any person employed by the Company
to continue his employment with the Company, and nothing herein contained shall
be construed as a commitment on the part of the Company to continue the
employment or the annual rate of compensation of any such person for any
period, and all Participants shall remain subject to discharge to the same
extent as if the Plan had never been established.

         6.3 Trust. In order to provide a source of payment for its obligations
under the Plan, the Company has established the Trust, the terms of which are
governed by the Trust Agreement.

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         6.4 Interest of a Participant. Subject to the provisions of the Trust
Agreement, the obligation of the Company under the Plan to provide a
Participant with a supplemental pension benefit constitutes the unsecured
promise of the Company to make payments as provided herein, and no person shall
have any interest in, or a lien or prior claim upon, any property of the
Company.

         6.5 Controlling Status. No Participant shall be eligible for a benefit
under the Plan unless such Participant is a Participant on the date of his
retirement, death, or other termination of employment.

         6.6 Claims of Other Persons. The provisions of the Plan shall in no
event be construed as giving any person, firm or corporation any legal or
equitable right as against the Company, its officers, employees, or directors,
except any such rights as are specifically provided for in the plan or are
hereafter created in accordance with the terms and provisions of the Plan.

         6.7 Severability. The invalidity or unenforceability of any particular
provision of the Plan shall not affect any other provision hereof, and the Plan
shall be construed in all respects as if such invalid or unenforceable
provision were omitted herefrom.

         6.8 Governing Law. The provisions of the Plan shall be governed and
construed in accordance with the laws of the State of Ohio.

<PAGE>   7

                                   APPENDIX A
                                       TO
                            THE LUBRIZOL CORPORATION
                          EXCESS DEFINED BENEFIT PLAN

Participants(1)                                       Effective Date

1. W. G. Bares                                        December 31, 1986
2. G. R. Hill                                         December 31, 1986
3. J. R. Ahern                                        April 1, 1990
4. K. H. Hopping                                      April 21, 1991
5. J. W. Bauer                                        April 27, 1992
6. S. F. Kirk                                         April 26, 1993
7. Y. Le Couedic                                      April 26, 1993
8. J. E. Hodge                                        April 26, 1993
9. M. W. Meister                                      April 26, 1993
10. S. A. Di Biase                                    April 26, 1993
11. G. P. Lieb                                        April 25, 1994
12. L. M. Reynolds                                    April 24, 1995
13. R. D. Robins                                      April 22, 1996
14. C. P. Cooley                                      April 1, 1998
15. D. W. Bogus                                       April 1, 2000
16. J. L. Hambrick                                    May 1, 2000

Former Participants(2)
1. P. L. Krug (R)
2. W. T. Beargie (R)
3. W. D. Manning (R)
4. R. W. Scher (R)
5. J. P. Arzul (D)
6. J. R. Cooper (R)
7. J. I. Rue (R)
8. R. J. Senz (T)
9. E. V. Luoma (R)
10. R. Y. K. Hsu (R)
11. L. E. Coleman (R)
12. J. G. Bulger (R)
13. D. A. Muskat (R)
14. W. R. Jones (R)
15. R. A. Andreas (R)
16. J. A. Thomas (R)

--------
(1) This listing of Participants is limited to those Participants who are also
officers for purposes of Section 16 of the Securities Exchange Act of 1934.

(2) R= Retired, D = Deceased, T = Terminated.<PAGE>   1
                                                                Exhibit (10)(e)

                            THE LUBRIZOL CORPORATION
                        EXCESS DEFINED CONTRIBUTION PLAN
                              (As Amended 10/1/00)

         The Lubrizol Corporation hereby establishes, effective as of December
31, 1986, The Lubrizol Corporation Excess Defined Contribution Plan (the
"Plan") for the purpose of supplementing the benefits of certain employees, as
permitted by Section 3(36) of the Employee Retirement Income Security Act of
1974.

                                   ARTICLE I

                                  DEFINITIONS

         1.1 Definitions. For the purposes hereof, the following words and
phrases shall have the meanings indicated, unless a different meaning is
plainly required by the context:

                  (a) Beneficiary. The term "Beneficiary" shall mean the person
         or persons who shall be designated by a Participant to receive
         distribution of such Participant's interest under the Plan in the
         event such Participant dies before full distribution of his interest.

                  (b) Code. The term "Code" shall mean the Internal Revenue
         Code as amended from time to time. Reference to a section of the Code
         shall include such section and any comparable section or sections of
         any future legislation that amends, supplements, or supersedes such
         section.

                  (c) Company. Effective December 30, 1994, the term "Company"
         shall mean The Lubrizol Corporation, an Ohio corporation, its
         corporate successors and the surviving corporation resulting from any
         merger of The Lubrizol Corporation with any other corporation or
         corporations, and any subsidiaries of The Lubrizol Corporation which
         adopt the Plan.

                  (d) Fund. The term "Fund" shall mean each separate investment
         fund established and maintained under the Trust Agreement.

                  (e) Lubrizol Profit-Sharing Plan. The term "Lubrizol
         Profit-Sharing Plan" shall mean The Lubrizol Corporation Employees'
         Profit-Sharing Plan as the same shall be in effect on the date of a
         Participant's retirement, death, or other termination of employment.

                  (f) Participant. Effective September 30, 1994, The term
         "Participant" shall mean any person employed by the Company who is
         listed on Appendix A attached hereto, or who is designated by the
         Board of Directors as an officer for the purposes of Section 16 of the
         Securities Exchange Act of 1934, or whose benefits under the
         Profit-Sharing Plan are limited by the application of Section
         401(a)(17) of the Internal Revenue Code of 1986, as amended.

                  (g) Plan. The term "Plan" shall mean the excess defined
         contribution retirement plan as set forth herein, together with all
         amendments hereto, which Plan shall be called "The Lubrizol
         Corporation Excess Defined Contribution Plan."
<PAGE>   2

                  (h) Plan Year. The term "Plan Year" shall mean the calendar
         year.

                  (i) Supplemental Company Contributions. The term
         "Supplemental Company Contributions" shall mean the contributions made
         by the Company under the Plan in accordance with the provisions of
         Section 2.2.

                  (j) Trust Agreement. The term "Trust Agreement" shall mean
         The Lubrizol Corporation Excess Defined Contribution Plan Trust
         Agreement.

                  (k) Trust Assets. The term "Trust Assets" shall mean all
         property held by the Trustee pursuant to the Trust Agreement.

                  (l) Trustee. The term "Trustee" shall mean the trustee of The
         Lubrizol Corporation Excess Defined Contribution Trust.

                  (m) Valuation Date. The term "Valuation Date" shall mean the
         last day of each Plan Year and any other date as may be agreed upon by
         the Company and the Trustee.

                  (n) Separate Accounts. The term "Separate Accounts" shall
         mean each account established on behalf of a Participant under the
         Plan and credited with Supplemental Company Contributions in
         accordance with the provisions of Section 2.3.

                  (o) Lubrizol Deferred Compensation Plan. Effective July 1,
         1994, the term "Lubrizol Deferred Compensation Plan" shall mean The
         Lubrizol Corporation Deferred Compensation Plan for Officers (which
         was adopted effective July 1, 1994), as shall be in effect on the date
         of the Participant's retirement, death, or other termination of
         employment.

                  (p) Executive Council Deferred Compensation Plan. Effective
         January 1, 1997, the term "Executive Council Deferred Compensation
         Plan" shall mean The Lubrizol Corporation Executive Council Deferred
         Compensation Plan, as shall be in effect on the date of the
         Participant's retirement, death, or other termination of employment.

         1.2 Additional Definitions. All other words and phrases used herein
shall have the meanings given them in the Lubrizol Profit-Sharing Plan, unless
a different meaning is clearly required by the context.

                                   ARTICLE II

                           SUPPLEMENTAL CONTRIBUTIONS

         2.1 Eligibility. Effective January 1, 1997, a Participant whose
benefits under the Lubrizol Profit-Sharing Plan are limited with respect to any
Plan Year by Section 401(a)(17) or 415 of the Code, or who participated in the
Lubrizol Deferred Compensation Plan or the Executive Council Deferred
Compensation Plan, shall be eligible to have contributions made with respect to
him under the Plan in accordance with the provisions of this Article II.

         2.2 Supplemental Company Contributions. Effective January 1, 1997, in
the event that Company contributions under the Lubrizol Profit-Sharing Plan
with respect to a Participant are limited for any Plan Year due to the
provisions of Section 401(a)(17) or 415 of the Code, or

<PAGE>   3

due to the Participant's participation in the Lubrizol Deferred Compensation
Plan or the Executive Council Deferred Compensation Plan, the amounts by which
such contributions are limited shall be credited under the Plan by the Company
and shall be designated as Supplemental Company Contributions.

         2.3 Allocation of Contributions. Effective September 30, 1994,
Supplemental Company Contributions shall be allocated among the Separate
Accounts of the Participants on whose behalf such contributions are made.

         2.4 Administration of Separate Accounts. Effective September 30, 1994,
each Separate Account to which contributions under Sections 2.2 and 2.3 are
credited and allocated shall be credited monthly with the net monthly increase
experienced by the General Fund of the Lubrizol Profit-Sharing Plan.

                                  ARTICLE III

                                  DISTRIBUTION

         3.1 Vesting. Each Participant as of December 31, 1993, shall be 100
percent vested in the value of his Separate Accounts. Each new Participant
after December 31, 1993, shall be vested in the value of his Separate Accounts
under this Plan as determined in accordance with the vesting provisions of the
underlying qualified plans.

         3.2  Distribution.  (Effective November 27, 1995)

                  (a) Each Participant who terminates employment with the
         Company and its related corporations shall receive payment of the
         balance in his Separate Account in the standard form of payment of a
         single lump-sum payment payable within 30 days following employment
         termination;

                  (b) Effective October 1, 2000, Participants may instead elect
         within a 60-day period commencing 90 days prior to employment
         termination to receive the balance of his Separate Account in any one
         of the following payment options:

                  i.  a single lump-sum payment payable within 30 days following
                  the calendar year in which the Participant's employment
                  terminated. Interest shall accrue and be paid with the
                  lump-sum; such interest to be computed at the applicable
                  interest rate, as defined in Section 417(e)(3)(A)(ii)(II) of
                  the Code, in effect on the date of employment termination.

                  ii. annual installments of up to ten payments, the first of
                  which shall be paid within 30 days of the Participant's
                  employment termination, and subsequent installments of which
                  shall be paid on the anniversary date of the payment of the
                  first installment. Such installments shall be determined by
                  dividing the value of the Participant's Separate Account
                  (determined in the same manner as under the Lubrizol
                  Profit-Sharing Plan by the number of installments to be paid
                  and adjusting for interest based on the applicable interest
                  rate, as defined in Section 417(e)(3)(A)(ii)(II) of the Code,
                  in effect on the date of employment termination. Installments
                  after the first installment shall include such interest,
                  which accrues during the 12-month period occurring since the
                  date the prior installment was paid.

<PAGE>   4

         Notwithstanding the foregoing provisions of the Plan to the contrary,
if the present value of the Separate Account is less than $25,000, such benefit
shall be paid in a single lump-sum payment to such person within 30 days
following employment termination.

         3.3 Distribution in the Event of Death. Effective September 30, 1994,
in the event of the death of a Participant prior to distribution in full of his
interest under the Plan, his Beneficiary shall receive distribution of such
interest. In the event of death of a Participant prior to making an election
for benefits, such Beneficiary shall receive distribution of such interest as
soon as practicable after such Participant's death in the form elected by such
Beneficiary pursuant to Section 3.2. The Beneficiary under this Section 3.3
shall be the person designated as the Participant's beneficiary under the
Lubrizol Profit-Sharing Plan. If no Beneficiary survives such Participant or if
no Beneficiary has been designated by such Participant, the estate of such
Participant shall be the Beneficiary and receive distribution thereof. If any
Beneficiary dies after becoming entitled to receive distribution hereunder and
before such distribution is made in full, and if no other person or persons
have been designated to receive the balance of such distribution upon the
happening of such contingency, the estate of such deceased Beneficiary shall
become the Beneficiary as to such balance.

                                   ARTICLE IV

                                 ADMINISTRATION

         The Company shall be responsible for the general administration of the
Plan, for carrying out the provisions hereof, and for making any required
supplemental benefit payments. The Company shall have all such powers as may be
necessary to carry out the provisions of the Plan, including the power to
determine all questions relating to eligibility for and the amount of any
supplemental retirement benefits and all questions pertaining to claims for
benefits and procedures for claim review; to resolve all other questions
arising under the Plan, including any questions of construction; and to take
such further action as the Company shall deem advisable in the administration
of the Plan. The Company may delegate any of its powers, authorities, or
responsibilities for the operation and administration of the Plan to any person
or committee so designated in writing by it and may employ such attorneys,
agents, and accountants as it may deem necessary or advisable to assist it in
carrying out its duties hereunder. The actions taken and the decisions made by
the Company hereunder shall be final and binding upon all interested parties.

                                   ARTICLE V

                           AMENDMENT AND TERMINATION

         The Company reserves the right to amend or terminate the Plan in whole
or in part at any time and to suspend operation of the Plan, in whole or in
part, at any time, by resolution or written action of its Board of Directors or
by action of a committee to which such authority has been delegated by the
Board of Directors; provided, however, that no amendment shall result in the
forfeiture or reduction of the interest of any Participant or person claiming
under or through any one or more of them pursuant to the Plan. Any amendment of
the Plan shall be in writing and signed by authorized individuals.

<PAGE>   5

                                   ARTICLE VI

                                 MISCELLANEOUS

         6.1 Non-Alienation of Retirement Rights or Benefits. No Participant
shall encumber or dispose of his right to receive any payments hereunder, which
payments or the right thereto are expressly declared to be non-assignable and
non-transferable. If a Participant or Beneficiary attempts to assign, transfer,
alienate or encumber his right to receive any payment under the Plan or permits
the same to be subject to alienation, garnishment, attachment, execution, or
levy of any kind, then thereafter during the life of such Participant or
Beneficiary and also during any period in which any Participant or Beneficiary
is incapable in the judgment of the Company of attending to his financial
affairs, any payments which the Company is required to make hereunder may be
made, in the discretion of the Company, directly to such Participant or
Beneficiary or to any other person for his use or benefit or that of his
dependents, if any, including any person furnishing goods or services to or for
his use or benefit or the use or benefit of his dependents, if any. Each such
payment may be made without the intervention of a guardian, the receipt of the
payee shall constitute a complete acquittance to the Company with respect
thereto, and the Company shall have no responsibility for the proper allocation
thereof.

         6.2 Plan Non-Contractual. Nothing herein contained shall be construed
as a commitment or agreement on the part of any person employed by the Company
to continue his employment with the Company, and nothing herein contained shall
be construed as a commitment on the part of the Company to continue the
employment or the annual rate of compensation of any such person for any
period, and all Participants shall remain subject to discharge to the same
extent as if the Plan had never been established.

         6.3 Trust. In order to provide a source of payment for its obligations
under the Plan, the Company has established The Lubrizol Corporation Excess
Defined Contribution Plan Trust.

         6.4 Interest of a Participant. Subject to the provisions of the Trust
Agreement, the obligation of the Company under the Plan to provide a
Participant or Beneficiary with supplemental retirement benefits merely
constitutes the unsecured promise of the Company to make payments as provided
herein, and no person shall have any interest in, or a lien or prior claim
upon, any property of the Company.

         6.5 Controlling Status. No Participant shall be eligible for a benefit
under the Plan unless such Participant is a Participant on the date of his
retirement, death, or other termination of employment.

         6.6 Claims of Other Persons. The provisions of the Plan shall in no
event be construed as giving any person, firm or corporation any legal or
equitable right as against the Company, its officers, employees, or directors,
except any such rights as are specifically provided for in the Plan or are
hereafter created in accordance with the terms and provisions of the Plan.

         6.7 Severability. The invalidity or unenforceability of any particular
provision of the Plan shall not affect any other provision hereof, and the Plan
shall be construed in all respects as if such invalid or unenforceable
provision were omitted herefrom.

         6.8 Governing Law. The provisions of the Plan shall be governed and
construed in accordance with the laws of the State of Ohio.

<PAGE>   6

                                   APPENDIX A
                                       TO
                            THE LUBRIZOL CORPORATION
                        EXCESS DEFINED CONTRIBUTION PLAN

Participants(1)                                   Effective Date

1. W. G. Bares                                    December 31, 1986
2. G. R. Hill                                     December 31, 1986
3. J. R. Ahern                                    April 1, 1990
4. K. H. Hopping                                  April 21, 1991
5. J. W. Bauer                                    April 27, 1992
6. S. F. Kirk                                     April 26, 1993
7. Y. Le Couedic                                  April 26, 1993
8. J. E. Hodge                                    April 26, 1993
9. M. W. Meister                                  April 26, 1993
10. S. A. Di Biase                                April 26, 1993
11. G. P. Lieb                                    April 25, 1994
12. L. M. Reynolds                                April 24, 1995
13. R. D. Robins                                  April 22, 1996
14. C. P. Cooley                                  April 1, 1998
15. D. W. Bogus                                   April 1, 2000
16. J. L. Hambrick                                May 1, 2000

Former Participants(2)
1. P. L. Krug (R)
2. W. T. Beargie (R)
3. W. D. Manning (R)
4. R. W. Scher (R)
5. J. P. Arzul (D)
6. J. R. Cooper (R)
7. J. I. Rue (R)
8. R. J. Senz (T)
9. E. V. Luoma (R)
10. R. Y. K. Hsu (R)
11. L. E. Coleman (R)
12. J. G. Bulger (R)
13. D. A. Muskat (R)
14. W. R. Jones (R)
15. R. A. Andreas (R)
16. J. A. Thomas (R)

--------
(1) This listing of Participants is limited to those Participants who are also
officers for purposes of Section 16 of the Securities Exchange Act of 1934.

(2) R = Retired, D = Deceased, T = Terminated.

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