Document:

EX-10.1

Exhibit 10.1

CATAPULT COMMUNICATIONS CORPORATION

EXECUTIVE OFFICER FY2009 VARIABLE COMPENSATION PLAN

Officer performance-based compensation for fiscal year 2009 will be based to the extent of 50% on
attainment by Catapult of orders goals (“Bookings Goals”) and to the extent of 50% on income before
income taxes and non-cash stock option expenses under SFAS 123(R) (“Income Goals”), as reflected in
the case of the Income Goals on the Company’s quarterly reviewed or annual audited financial
statements. Performance-based compensation will be earned and paid based on Company performance
against specific Bookings and Income Goals that shall be established by the Board of Directors or
Compensation Committee (“Board”), after consultation with the Chief Executive Officer.

The purpose of the Plan is to provide officers with a strong incentive to maximize the performance
of the Company for the benefit of shareholders. The on-target bonus amounts established by the
Board, in consultation with the CEO, represents sums that can be earned by officers, only if or to
the extent the Company’s Bookings and Income Goals during a fiscal year are achieved. The Board
intends that the Plan should pay out 100% of the on-target bonus established for each officer if
the Goals are substantially achieved during the entire fiscal year, to pay out less than 100% if
performance falls short of the Goals and to pay out more than 100% if performance exceeds the
Goals.

The CEO is charged with administering the Plan in strict accordance with its provisions and
promptly bringing to the attention of the Chairman of the Compensation Committee any questions,
disputes, recommendations or other matters relating to the subject of the Plan that may not be
foreseen or specifically covered by the provisions herein. Anything to the contrary
notwithstanding, the Board reserves to itself, in its sole discretion, the authority to interpret
the Plan, make decisions regarding implementation of the Plan and to amend the Plan.

The default Bookings and Income Goals as described below shall be applicable only if the Board does
not establish Bookings and Income Goals for a quarter and may be reviewed and changed by the
Compensation Committee at any time. The CEO shall inform the Board at each board meeting of the
default goals for that quarter. The Chairman of the Compensation Committee shall issue to the CEO
via e-mail or other written form the Booking and Income Goals adopted for the quarter no later than
five working days after each quarterly board meeting.

Bookings Bonus Calculation

In the event the Board does not establish a quarterly Bookings Goal, the default Bookings Goal
shall be the Company’s internal orders target for a given quarter.

Bookings bonus earnings shall begin when 50% of the Bookings Goal is achieved and shall increase
linearly thereafter to 100% and beyond. If payment of the quarterly Bookings bonus would cause the
Company to post a loss before income taxes and SFAS 123(R) expenses on the quarterly income
statement, the earned Bookings Bonus shall be reduced by an amount sufficient to restore the
Company to breakeven for the quarter. In the event that such bonus reduction is not sufficient to
restore the Company to breakeven, the deficit shall not be carried forward to the next quarter.

The Bookings Bonus shall be calculated and expensed before the Income Bonus.

Income Bonus Calculation

In the event the Board does not establish a quarterly Income Goal, the default Income Goal shall be
the pre-tax, pre-FAS123(R) income consistent with guidance given at the conference call, but not
less than $0.

No Income Bonus will be earned in any quarter until pre-tax, pre-SFAS 123(R) income after taking
into consideration any Bookings Bonuses reaches 100% of the Income Goal for that quarter.
Thereafter, each additional dollar of pre-tax, pre-SFAS 123(R) income will be earned as Income
Bonus until the aggregate on-target Income Bonus for the quarter has been earned. Any deficits
resulting from this calculation shall not be carried forward.

After the aggregate on-target Income Bonus has been earned for the quarter, 10% of any additional
pre-tax, pre-FAS123(R) income will be credited to an annual bonus pool apportioned among officers
using the same percentages as for the base amount. This annual bonus pool shall only be considered
earned and be available for payment if and when the Company’s audited income before income taxes
and SFAS 123(R) expenses for the fiscal year is at least 8% of total revenues.

Additional Provisions

In administering the Plan, the CEO will prepare a quarterly Variable Compensation Report showing
the calculations on which the proposed performance bonuses for the most recent quarter are based,
the amounts to be paid out by officer, payouts by officer in the previous quarters of the current
and previous fiscal year and such other information the CEO or the Committee consider relevant.

Bonuses earned will be paid on the next regular monthly payroll after the report is received for
review by the Board. In any event, all bonuses earned under the Plan will be paid no later than
the later of the 15th day of the third month following the end of the Plan participant’s
first taxable year in which the bonus is no longer subject to a substantial risk of forfeiture or
the 15th day of the third month following the end of the Company’s taxable year in which
the bonus is no longer subject to a substantial risk of forfeiture.

To earn and receive a bonus, an officer must be employed by the Company from the beginning to the
end of the quarter in which the payment was earned. Any amounts forfeited under this provision will
return to the Company.EX-10.1

Citicorp North America, Inc.

750 Washington Boulevard, 8th Floor

Stamford, CT 06901

October 31, 2008

Ferro Corporation

1000 Lakeside Avenue

Cleveland, OH 44114

Ferro Finance Corporation

1000 Lakeside Avenue, Suite A

Cleveland, OH 44114

	 	 	 	Re: Amendment No. 3 to Second Amended and Restated Receivables
Purchase Agreement

Ladies and Gentlemen:

We refer to that certain Second Amended and Restated Receivables Purchase Agreement, dated as
of April 1, 2008 (as amended, modified, supplemented or restated from time to time, the
“Receivables Agreement”), among Ferro Finance Corporation (the “Seller”), as the Seller, CAFCO, LLC
(the “Investor”), as the Investor, Citicorp North America, Inc. (the “Agent”), as the Agent,
Citibank, N.A., as a Bank, Ferro Color & Glass Corporation and Ferro Pfanstiehl Laboratories,
Inc., as Originators, and Ferro Corporation (“Ferro”), as the Collection Agent and an Originator.
Terms not otherwise defined herein shall have the meanings set forth in the Receivables Agreement.

On the date hereof (the “MPU 43 Release Effective Date”) and pursuant to the terms and
conditions set forth herein, the Seller hereby requests (i) an amendment to the Receivables
Agreement as set forth herein and (ii) that the Investor release and reconvey to the Seller that
portion of each Receivable Interest sold to the Investor pursuant to the Receivables Agreement
representing Receivables and the Related Security with respect thereto existing as of such date to
the extent constituting Acquired Assets as defined in that certain Asset Purchase Agreement dated
as of September 29, 2008, by and between Ferro and Novolyte Technologies LP (“Buyer”), which
Receivables are further identified as belonging to MPU 43 within company code 2010 (such portions
of the Receivable Interests to be released and reconveyed, collectively, the “Released Receivable
Interests”; such Receivables, the “MPU 43 Receivables”). The MPU 43 Receivables are identified on
Exhibit A attached hereto.

Amendments

1. The definition of “Originator Receivable” in Section 1.01 of the Receivables Agreement is
hereby amended and restated to read in its entirety as follows:

“Originator Receivable” means the indebtedness of any Obligor resulting from
the provision or sale of merchandise, insurance or services by an Originator under a
Contract, and includes the right to payment of any interest or finance charges and other
obligations of such Obligor with respect thereto; provided, however, that
from and after the MPU 43 Release Effective Date, “Originator Receivable” shall not
include any MPU 43 Receivables.

2. Section 1.01 of the Receivables Agreement is hereby amended by adding the following new
definitions in the proper alphabetical order:

“MPU 43 Receivables” means Receivables existing as of the MPU 43 Release
Effective Date constituting Acquired Assets as defined in that certain Asset Purchase
Agreement dated as of September 29, 2008 by and between Ferro and Novolyte Technologies LP,
which are further identified as belonging to MPU 43 within company code 2010.

“MPU 43 Release Effective Date” means the date on which the Released Receivable
Interests (as defined in Amendment No. 3 to this Agreement) are released and reconveyed to
the Seller as provided in Amendment No. 3 to this Agreement.

Release of Receivables

1. On the MPU 43 Release Effective Date, the Seller may deem all MPU 43 Receivables then owned
by it to be excluded from the Originator Receivables (and therefore from Receivables and Pool
Receivables, as defined in the Receivables Agreement) for all purposes.

2. Effective upon the MPU 43 Release Effective Date, the Agent and the Investor hereby (i)
release and reconvey to the Seller all Released Receivable Interests previously sold by the Seller
and outstanding as of the MPU 43 Release Effective Date, all without recourse to or representation
or warranty of any kind by the Agent or the Investor, other than a representation by the Agent that
the Released Receivable Interests are free and clear of any Adverse Claims created by the Agent or
the Investor or as a result of a claim against the Agent or the Investor, and (ii) release, as of
the MPU 43 Release Effective Date, any and all security interests, liens or other encumbrances the
Agent or the Investor may have in or to the Pool Receivables which are MPU 43 Receivables and the
Related Security with respect thereto.

3. On the MPU 43 Release Effective Date, upon receipt by the Agent of (a) this letter
agreement executed by each of you and the Investor and (b) a conforming letter agreement with
respect to the Originator Purchase Agreement, the Agent will deliver or release to the Seller, as
the case may be, UCC-3 partial releases with respect to the Released Receivable Interests, the MPU
43 Receivables and the Related Security with respect thereto. Ferro or its designee is authorized
to file or cause to be filed such UCC-3 partial releases following such delivery or release.

4. The Collection Agent agrees that immediately following the MPU 43 Release Effective Date,
it will notify, and/or will arrange for any buyer of any portion of the MPU 43 Receivables to
notify, all Obligors with respect to MPU 43 Receivables to remit all payments in respect thereof to
such accounts or addresses other than Lock-Box Accounts as directed by Ferro or the Buyer.

Miscellaneous

1. Except as herein expressly amended, the Receivables Agreement is ratified and confirmed in
all respects and shall remain in full force and effect in accordance with its terms. All
references to the Receivables Agreement in the Receivables Agreement, the Originator Purchase
Agreement, the Purchase Agreement and the other Transaction Documents shall mean the Receivables
Agreement as amended by this letter agreement and as hereafter amended, restated, supplemented or
modified.

2. The Seller and Ferro each represent and warrant that this letter agreement has been duly
authorized, executed and delivered by it and constitutes its legal, valid and binding obligation.
The Seller and the Collection Agent each represent and warrant that after giving effect to this
letter agreement, the MPU 43 Release Effectiveness Date and any associated reduction of Capital, no
Event of Termination or Incipient Event of Termination will occur.

3. This letter agreement shall be governed by, and construed in accordance with, the laws of
the State of New York.

[Remainder of page intentionally left blank.]

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This letter agreement may be
executed in any number of counterparts and by different parties hereto in separate counterparts,
each of which when so executed shall be deemed to be an original and all of which when taken
together shall constitute one and the same agreement. Delivery of an executed counterpart of a
signature page to this letter agreement by telecopier or other electronic means shall be effective
as delivery of a manually executed counterpart of this letter agreement.

CITICORP NORTH AMERICA, INC.,

as Agent

By:  /s/ Junette M. Earl

Name: Junette M. Earl

Title: Vice President

AGREED AND ACKNOWLEDGED AS OF

THE DATE FIRST WRITTEN ABOVE:

CAFCO, LLC

	 	 	 
	By: /s/ Junette M. Earl

	 

	Name: Junette M. Earl

	Title:

	 	Vice President

FERRO FINANCE CORPORATION

	 	 	 
	By: /s/ Karen L. Larsen

	 

	Name: Karen L. Larsen

	Title:

	 	Assistant Treasurer

FERRO CORPORATION

	 	 	 
	By: /s/ Peter T. Thomas

	 

	Name: Peter T. Thomas

	Title:

	 	Vice President, Organic Specialties

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Exhibit A

MPU 43 Receivables

See attached.

SOLICITORS, 003554, 000059, 102626844.1, Amend No 3 to A&R RPA (Execution w/ Conformed
Sigs)

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