Document:

exhibit10_28.htm

Exhibit 10.28

    CABOT
MICROELECTRONICS CORPORATION

     

    DIRECTORS' DEFERRED
COMPENSATION PLAN

    

    AS AMENDED AND RESTATED
SEPTEMBER 23, 2008

    

     

    Cabot
Microelectronics Corporation (the "Company") desires to amend and restate the
Directors' Deferred Compensation Plan (the "Plan").  The Plan as
originally adopted March 13, 2001 and as amended as of June 17, 2003 (attached
hereto as Exhibit A) remains in effect for amounts deferred prior to January 1,
2005.  The Plan was previously amended and restated as of September
26, 2006, and is further amended and restated effective September 23, 2008 as
set forth herein.

     

    The Plan
is designed to assist the Company in attracting and retaining persons of
competence and stature to serve as Directors by giving those Directors the
option of deferring receipt of the fees payable to them by the Company for their
services as Directors and creating an opportunity for appreciation of fees
deferred based on appreciation of the Company's Common Shares.

     

    Therefore,
the Company hereby adopts the Plan as hereinafter set forth:

     

    1. Effective
Date.  The Plan is amended and restated effective as of the
date executed as set forth below.

     

    2. Eligibility
and Participation.  Each Director of
the Company who: (a) is duly elected to the Company's Board of Directors (the
"Board of Directors" or the "Board"); (b) receives fees, stipends, awards, or
other remuneration ("Directors' Fees") from the Company for services as a
Director; and (c) is not an employee of the Company, is an "Eligible
Director."  Each Eligible Director may defer receipt of Directors'
Fees otherwise payable to that Eligible Director, as provided for in the Plan,
beginning on the date he or she is first elected to the Company's
Board.  Each Eligible Director who elects to defer Directors' Fees
under the Plan is a "Participant" in the Plan.

     

    3. Administration.  The Board
appoints the Company's Chief Executive Officer and the Company's General Counsel
to act as the administrators of the Plan (separately and collectively referred
to herein as the "Administrator").  The Administrator will serve at
the pleasure of the Board of Directors and will administer, construe and
interpret the Plan.  The Administrator will not be liable for any act
done or determination made in good faith.  The Board of Directors has
the power to designate an additional or replacement Administrator at its
discretion. The expense of administering the Plan shall be borne by the Company
and shall not be charged against benefits payable hereunder.

     

    4. Deferrals.

     

    (a) Deferral
Election.  An Eligible
Director may file with the Administrator, on or before December 31 of each year,
an election in writing to defer all or a portion of the Directors' Fees to be
earned by the Eligible Director in the following calendar year (a "Deferral
Election").  The Deferral Election shall remain in effect until
changed or revoked, but as of each December 31 it shall be irrevocable with
respect to Directors Fees to be earned by the Director in the immediately
following year. In
the year in which a Director first becomes eligible to participate in the Plan,
a Deferral Election may be made with respect to services to be performed
subsequent to the date of the Deferral Election, if it is filed with the
Administrator within thirty (30) days after the date the Director becomes
eligible to participate in the Plan.  When a Deferral Election is
filed, an amount equal to all or a portion (as designated in the Deferral
Election) of the Directors' Fees earned by the Participant for the following
calendar year (or the remainder of the calendar year, in the case of new
Directors) will be credited to a deferral account maintained on behalf of that
Participant (the "Deferral Account").  Each Deferral Election must
also specify a distribution commencement date and a method of distribution (lump
sum or equal installments), consistent with the terms of paragraph
5.

     

    (b) Minimum
Deferral.  The amount of Deferral Election may not be less than
$1,000 per calendar quarter.

     

    (c) Accounting.  The
Deferral Accounts will be maintained by the Company and will list and reflect
each Participant's credits and valuations.  The Administrator will
provide each Participant an annual statement of the balance in that
Participant's Deferral Account.  The Company will credit to each
Participant's Deferral Account an amount equivalent to the Directors' Fees or
portion thereof, as designated in the Deferral Election, that would have been
paid to the Participant if the Participant had not elected to defer such
compensation under the Plan.  The credit will be made on the date on
which the Directors' Fees would have been paid absent a Deferral
Election.  The Plan is unfunded and no funds will be segregated into
the Deferral Account of Participants.

     

    (d) Valuation. Each Deferral Account will
be credited a number of Share Units (including fractions thereof) determined by
dividing the amount to be credited to the Deferral Account, whether in lieu of
payment of Directors' Fees or as a dividend or other distribution attributable
to those Share Units, by the Fair Market Value of the Company's Common Shares
(as defined below) on the date of credit.  Fair Market Value of the
Company's Common Shares means: (i) the closing price of the Company's Common
Shares on the principal exchange on which the Company's Common Shares are then
trading, if any, on the date such Share Units are to be credited, or, if Shares
were not traded on the date of crediting, then on the next preceding trading day
during which a sale occurred; or (ii) if the Common Shares are not traded on an
exchange but are quoted on the Nasdaq National Market System or a successor
quotation system, (1) the last sales price (if the Common Shares are then listed
as a National Market Issue under Nasdaq), or (2) the mean between the closing
representative bid and asked prices for the Common Shares on the date of credit
as reported by Nasdaq or a successor quotation system, or (iii) if the Common
Shares are not publicly traded on an exchange and not quoted on Nasdaq or a
successor quotation system, the mean between the closing bid and asked prices
for the Common Shares on the date of credit, as determined in good faith by the
Company's Chief Financial Officer; or (iv) if the Company's Common Shares are
not publicly traded, the fair market value established by the Company's Chief
Financial Officer acting in good faith.  Each Share Unit will have the
value of a Common Share of the Company.  The number of Share Units
will be adjusted proportionally to reflect stock splits, stock dividends or
other capital adjustments effected without receipt of consideration by the
Company, provided, that, in the event of a merger, acquisition or other business
combination of the Company with or into another entity, any adjustment provided
for in the applicable agreement and plan of merger (or similar document) shall
be conclusively deemed to be appropriate for purposes of this
Section.

     

     

    
      
         

      

      
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    5. Distribution.  A Participant
must elect in writing, at the time each Deferral Election is made under
paragraph 4(a), the date on which distribution of the amounts credited to the
Participant's Deferral Account to which that Deferral Election relates will
commence and the method of distribution, as permitted hereunder.  A
Participant's distribution election must specify that distribution will occur on
the event or date set forth in paragraph (a)(i) or (ii) below.  The
distribution date elected by the Participant for Directors' Fees deferred in a
given year shall be the Scheduled Withdrawal Date and may vary with each year,
pursuant to the terms of the Deferral Election.  A Participant's
Scheduled Withdrawal Date with respect to Directors' Fees deferred in a given
year can be no earlier than two years from the last day of the year in which the
deferrals are made, other than for "Separation from Service" (as described in
paragraph 5(a) below), and will be no later than the date the Participant
experiences a Separation from Service as a Director.  Payment will be
made in the Company's Common Shares only, in one distribution or equal
installment distributions based on the number of Share Units attributable to the
applicable Deferral Election.  Installments may not be made more often
than monthly and may not extend for more than five years. The time of and method
of distribution of benefits may vary with each separate Deferral
Election.  The Deferral Accounts represent an unsecured right to
acquire the Company's Common Shares. In the event a
Participant does not elect a Scheduled Withdrawal Date, all deferred amounts
will be distributed within thirty (30) days following the Participant's
Separation from Service (as described in paragraph 5(a) below).

     

    (a) Time of
Distribution.  A Participant's
Accounts under the Plan may be paid only upon an event or at a time set forth in
this paragraph 5(a):

     

    (i) The
Participant's "Separation from Service" (as defined in Treas. Reg. §1.409A-1(h)
and in accordance with Treas. Reg. §1.409A-1(i)(2)).

     

    (ii) On a
specified date prior to the Participant's Separation from Service, but no
earlier than two years from the last day of the year in which the Directors'
Fees are deferred, or according to a fixed schedule of equal installments not
more frequent than monthly and over a period of not longer than five years (in
accordance with Treas. Reg. §1.409A-1(i)(1)).

     

    (iii) The
Participant's "Disability" (in accordance with Treas. Reg.
§1.409A-3(i)(4)).

     

    (iv) The
Participant's death.

     

    (v) A change
in the ownership or effective control of the corporation, or in the ownership of
a substantial portion of the assets of the corporation (in accordance with
Treas. Reg. §1.409A-3(i)(5)).

     

    (vi) The
occurrence of an "Unforeseeable Emergency," in accordance with Treas. Reg.
§1.409A-3 (i)(3), and paragraph 6 of the Plan.

     

    (b) Method of
Distribution.  Deferred amounts
will be paid in the Company's Common Shares.  Payments will be made in
a lump sum or in equal installments not more frequent than monthly and over a
period of not longer than five years.  A Participant must elect in
writing, at the time each Deferral Election is made, the method of distribution
of the Participant's Deferral Account, as permitted hereunder, to which that
Deferral Election relates.  The method of distribution of benefits may
vary with each year, pursuant to the terms of the Deferral
Election.  In the event a Participant does not elect a method of
distribution with respect to a particular year’s deferrals, the deferred amounts
for such year will be distributed in a single lump sum. The Participant shall
receive Common Shares equal to the number of Share Units in the Deferral
Accounts as of the occurrence of the event upon which the Participant's Accounts
are payable. Fractional Share Units may be settled in cash or otherwise as the
Company determines.

     

    (c) Changes
to Time or Method of Distribution.  Except as
provided in this paragraph 5(c) or in paragraph 5(d), no Participant may change
a Scheduled Withdrawal Date or a method of distribution designated in a Deferral
Election, and in no case shall such change be made if it would result in the
deferral of any amount in the Participant's Deferral Account later than that
Participant's Separation from Service.  Any change in a Scheduled
Withdrawal Date that is not the Participant's Separation from Service must be
made by the Participant by submitting a new Deferral Election at least twelve
(12) months prior to the Scheduled Withdrawal Date.  Any deferred
amounts for which the Scheduled Withdrawal Date or the method of distribution is
changed shall be deferred for an additional period of not less than five (5)
years from the date the Participant otherwise would have received the
distribution, except with regard to payments made due to the Participant's death
or Disability or an Unforeseeable Emergency.  A new Scheduled
Withdrawal Date may not take effect until at least twelve (12) months after the
date on which it is elected.

     

    6. Unforeseeable
Emergency.  Distribution of a
Participant's Deferral Account may be made to a Participant prior to his or her
Separation from Service in the event an "Unforeseeable Emergency," as that term
is defined for purposes of Code Section 409A and the regulations issued
thereunder.  An Unforeseeable Emergency is generally a severe
financial hardship resulting from an illness or accident of the Participant, the
Participant's spouse or a dependent of the Participant, loss of the
Participant's property due to casualty, or other similar extraordinary and
unforeseeable circumstances arising as a result of events beyond the control of
the Participant.  Consistent with the Code, any distributions from a
Participant's Deferral Account made in the event of an Unforeseeable Emergency
may not exceed the amount required to satisfy such emergency plus amounts
necessary to pay taxes reasonably anticipated as a result of the distribution,
after taking into account the extent to which such 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 such
assets would not itself cause severe financial hardship).

     

     

    
      
         

      

      
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    7. Separation from Service due
to Death or Disability.

     

    (a) In the
event of a Participant's Separation from Service by reason of death or
Disability prior to the distribution of any portion of that Participant's
Deferral Account, the Administrator will, within ninety (90) days of the date of
Separation from Service, commence distribution of amounts credited to the
Deferral Account to the beneficiary or beneficiaries of the Participant or to
the Participant.  Distribution will be made in accordance with the
method of distribution elected by the Participant pursuant to paragraph 5
hereof.  In the event a Participant's death or Disability occurs after
distribution of amounts credited to the Deferral Account hereunder has begun,
the Administrator will continue to make distributions to the Participant (or to
the beneficiary or beneficiaries in the event of death) in accordance with the
methods of distribution elected by the Participant pursuant to paragraph 5
hereof.

     

    (b) Each
Participant has the right to designate one or more beneficiaries to receive
distributions in the event of such Participant's death by filing with the
Administrator a Beneficiary Designation Form.  The designated
beneficiary or beneficiaries may be changed by a Participant at any time prior
to that Participant's death by the delivery to the Administrator of a new
Beneficiary Designation Form.  If no beneficiary has been designated,
or if no designated beneficiary survives the Participant, distributions pursuant
to this provision will be made to the Participant's estate.

     

    8. Assignment
and Alienation of Benefits.  The right of each Participant to
any account, benefit or payment hereunder will not, to the extent permitted by
law, be subject in any manner to attachment or other legal process for the debts
of that Participant; and no account, benefit or payment will be subject to
anticipation, alienation, sale, transfer, assignment or encumbrance except by
will, by the laws of descent and distribution, or by a Participant election to
satisfy a property settlement agreement pursuant to a divorce.

     

    9. Effect of
Change of Control. In the event of a Change
of Control of the Company that also
constitutes a “change in the ownership or effective control” within the meaning
of Code Section 409A and Treas. Regs. 1.409A-3(i)(5), the entire unpaid balance
of the Deferred Account shall be paid in a lump sum to the Participant as of the
effective date of the Change of Control.  Change of Control shall mean
the first to occur of any of the following events:

     

    (a)  any "person" as
such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of
1934 (the "1934 Act"), (other than (i) the Company, (ii) any
subsidiary of the Company, (iii) any trustee or other fiduciary holding
securities under an employee benefit plan of the Company or of any subsidiary of
the Company, or (iv) any company owned, directly or indirectly, by the
stockholders of the Company in substantially the same proportions as their
ownership of stock of the Company), is or becomes the "beneficial owner" (as
defined in Section 13(d) of the 1934 Act), together with all Affiliates and
Associates (as such terms are used in Rule 12b-2 of the General Rules and
Regulations under the 1934 Act) of such person, directly or indirectly, of
securities of the Company representing thirty percent (30%) or more of the
combined voting power of the Company's then outstanding securities;
or

    

    (b)  the
stockholders of the Company approve a merger or consolidation of the Company
with any other company, other than (i) a merger or consolidation which
would result in the voting securities of the Company outstanding immediately
prior thereto continuing to represent (either by remaining outstanding or by
being converted into voting securities of the surviving entity), in combination
with the ownership of any trustee or other fiduciary holding securities under an
employee benefit plan of the Company or any subsidiary of the Company, at least
sixty percent (60%) of the combined voting power of the voting securities of the
Company or such surviving entity outstanding immediately after such merger or
consolidation or (ii) a merger or consolidation effected to implement a
recapitalization of the Company (or similar transaction) after which no "person"
(with the method of determining "beneficial ownership" used in clause
(a) of this definition) owns more than thirty percent (30%) of the combined
voting power of the securities of the Company or the surviving entity of such
merger or consolidation; or

    

    (c)  during any
period of two (2) consecutive years (not including any period prior to the
execution of the Plan), individuals who at the beginning of such period
constitute the Board, and any new Director (other than a Director designated by
a person who has conducted or threatened a proxy contest, or has entered into an
agreement with the Company to effect a transaction described in clause (a),
(b) or (d) of this definition) whose election by the Board or
nomination for election by the Company's stockholders was approved by a vote of
at least two-thirds (2/3) of the Directors then still in office who either were
Directors at the beginning of the period or whose election or nomination for
election was previously so approved cease for any reason to constitute at least
a majority thereof; or

    

    (d)  the
stockholders of the Company approve a plan of complete liquidation of the
Company or an agreement for the sale or disposition by the Company of all or
substantially all of the Company's assets.

     

     

    
      
         

      

      
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    10. Section
409A Compliance.  Notwithstanding
any provision of this Agreement to the contrary, this Plan is intended to comply
with Code Section 409A and the interpretive guidance thereunder.  The
Plan shall be construed and interpreted in accordance with such
intent.  If any provision of this Plan shall be held by a court of
competent jurisdiction to be invalid or unenforceable, the remaining provisions
hereof shall continue to be fully effective.

     

    11. Unsecured
Obligation.  The obligation of the Company to make
distributions  of amounts credited to the Participant's Deferred
Account shall be a general obligation of the Company, and such distribution
shall be made only from general assets and property of the Company in shares of
common stock of the Company.  The Participant's relationship to the
Company under the Plan shall be only that of a general unsecured creditor and
neither this Plan, nor any agreement entered into hereunder, or action taken
pursuant hereto shall create or be construed to create a trust for purposes of
holding and investing the Deferred Account balances.  The Company
reserves the right to establish such a trust, but such establishment shall not
create any rights in or against any amounts held thereunder.

     

    12. Amendment
or Termination.  The Board of Directors may amend this Plan at
any time and from time to time.  The Board of Directors may terminate
this Plan, to the extent such termination is permissible according to Treasury
Regulations or other published guidance issued by the U.S. Department of
Treasury or the Internal Revenue Service under Code Section 409A.  The
time and form of a payment to a Participant under the Plan may be accelerated
where the right to the payment arises due to a termination and liquidation of
the Plan, in accordance with the provisions of Treas. Reg. §1.409A-3(j)(4)(ix)
or any successor provisions thereto.  Any amendment or termination of
this Plan will not adversely affect the rights of a Participant accrued prior
thereto without that Participant's written consent, except to the extent
required by law.

     

    13. Taxes.  The
Company is not responsible for the tax consequences under federal, state or
local law of any election made by any Participant under the Plan.  All
payments under the Plan are subject to withholding and reporting requirements to
the extent required by applicable law.

     

    14. No Right
to Continued Membership on the Board.  Nothing in this Plan
confers upon any Director any right to continue as a Director of the Company or
interferes with the rights of the Company and its shareholders, which are hereby
expressly reserved to remove any Director at any time for any reason whatsoever,
with or without cause.

     

    15. Applicable
Law.  To the extent not preempted by federal law, this Plan
shall be construed, administered and governed in all respects under and by the
laws of the State of Illinois, without giving effect to its conflict of laws
principles.  All references to statutory provisions and related
regulatory provisions used herein shall include any similar or successor
provisions.  The jurisdiction and venue for any disputes arising
under, or any action brought to enforce (or otherwise relating to), this Plan
shall be exclusively in the courts in the State of Illinois, County of Cook,
including the Federal Courts located therein (should Federal jurisdiction
exist).

     

     

    IN
WITNESS WHEREOF, the Company has caused this Plan to be executed by its
____________________________________ this _______ day of _______
2008.

     

    CABOT
MICROELECTRONICS CORPORATION

     

    

     

    By:                                                                               

     

    

     

    
      
         

      

      
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    EXHIBIT
A

     

    

     

    CABOT
MICROELECTRONICS CORPORATION

     

    DIRECTORS'
DEFERRED COMPENSATION PLAN

     

    

     

    (Adopted
as of March 13, 2001 and Amended as of June 17, 2003)

     

    
      	 
      

    

    

    
 

     

    5exhibit10_33.htm

    Exhibit 10.33

    

    

    

    

    The
CORPORATEplan for
RetirementSM

    EXECUTIVE
Plan

    

    

    

    

    Adoption
Agreement

    

    

    

    

    

    IMPORTANT
NOTE

    

    This
document has not been approved by the Department of Labor, the Internal Revenue
Service or any other governmental entity.  An Employer must determine
whether the plan is subject to the Federal securities laws and the securities
laws of the various states.  An Employer may not rely on this document
to ensure any particular tax consequences or to ensure that the Plan is
"unfunded and maintained primarily for the purpose of providing deferred
compensation to a select group of management or highly compensated employees"
under the Employee Retirement Income Security Act with respect to the Employer's
particular situation.  Fidelity Management Trust Company, its
affiliates and employees cannot and do not provide legal or tax advice or
opinions in connection with this document.  This document does not
constitute legal or tax advice or opinions and is not intended or written to be
used, and it cannot be used by any taxpayer, for the purposes of avoiding
penalties that may be imposed on the taxpayer.  This document must be reviewed by
the Employer’s attorney prior to adoption.

    
      
         

      

      
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    ADOPTION
AGREEMENT

    ARTICLE
1

    

    

    

    1.01           PLAN
INFORMATION

    

    
      	
               
      

            	
              (a)

            	
              Name
      of Plan:

            

    

    

    This is
the Cabot
Microelectronics Corporation Supplemental Employee Retirement Plan (the
"Plan").

    

    
      	
               
      

            	
              (b)

            	
              Plan
      Status (Check
      one.):

            

    

    

    
      	
               
      

            	
              (1)

            	
              Adoption
      Agreement effective date:  12/1/2008.

            

    

     

    
      	
               
      

            	
              (2)

            	
              The
      Adoption Agreement effective date is (Check (A) or check and
      complete (B)):

            

    

     

    
      	
               
      

            	
              (A)

            	
               ̈

            	
              A
      new Plan effective date.

            

    

     

    
      	
               
      

            	
              (B)

            	
              þ

            	
              An
      amendment and restatement of the Plan. The original effective date of the
      Plan was: 5/1/2000.

            

    

     

    

    (c)           Name
of Administrator, if not the Employer:

    

    
      	 
      

    

    

    

    

    1.02            EMPLOYER

    

    

    
      	
                             
      (a)           Employer
      Name:

            	
              Cabot
      Microelectronics Corporation

            

    

    

    

    
      	
               
      

            	
              (b)

            	
              The
      term "Employer" includes the following Related
  Employer(s)

            

    

    
      	
               
      

            	
                           (as
      defined in Section 2.01(a)(25)) participating in the
  Plan:

            

    

    

    ____________________________________________________________

    

    ____________________________________________________________

    

    

    

    

    
      
         

      

      
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    1.03            COVERAGE

    

    (Check (a) and/or (b).)

    

    
      	
               
      

            	
              (a)

            	
              þ  The
      following Employees are eligible to participate in the Plan (Check (1) or
      (2)):

            

    

    

    
      	
               
      

            	
              (1)   þ

            	
              Only
      those Employees designated in writing by the Employer, which writing is
      hereby incorporated herein.

            

    

    (2)    ̈                 Only
those Employees in the eligible class described below:

    

    
      	
              ____________________________________________________________

               

              ____________________________________________________________

            

    

    

    

    
      	
               
      

            	
              (b)

            	
               ̈  The
      following Directors are eligible to participate in the Plan (Check (1) or
      (2)):

            

    

    

    
      	
               
      

            	
              (1)    ̈

            	
              Only
      those Directors designated in writing by the Employer, which writing is
      hereby incorporated herein.

            

    

    
      	
               
      

            	
              (2)    ̈      
      All Directors, effective as of the later of the date in 1.01(b) or the
      date the Director becomes a
Director.

            

    

    

    (Note:  A
designation in Section 1.03(a)(1) or Section 1.03(b)(1) or a description in
Section 1.03(a)(2) must include the effective date of such
participation.)

    

    1.04           COMPENSATION

    

    (If
Section 1.03(a) is selected, select (a) or (b). If Section 1.03(b) is selected,
complete (c))

    

    For
purposes of determining all contributions under the Plan:

    

    
      	
               
      

            	
              (a)

            	
               ̈
      Compensation shall be as defined, with respect to Employees, in the ________________
      Plan maintained by the Employer:

            

    

    

    
      	
               
      

            	
              (1)

            	
               ̈

            	
              to
      the extent it is in excess of the limit imposed under Code section
      401(a)(17).

            

    

    

    
      	
               
      

            	
              (2)

            	
               ̈

            	
               notwithstanding the
      limit imposed under Code section
401(a)(17).

            

    

    

    

    
      	
               
      

            	
              (b)

            	
              þ
      Compensation shall be as defined in Section 2.01(a)(9) with respect to
      Employees (Check (1),
      and/or (2) below, if, and as,
  appropriate):

            

    

    

    
      	
               
      

            	
              (1)

            	
              þ but excluding the
      following:

            

    

                        a) Overtime Pay

                        b) Commissions

                        c) The value of a
qualified or a non-qualified stock option granted to an Employee by the Employer
to the extent such value is includable in the

                            
Employer's taxable income.

     

     

    
      	
               
      

            	
              (2)

            	
               ̈ but excluding
      bonuses, except those bonuses listed in the table in Section
      1.05(a)(2).

            

    

    

    

    
      	
               
      

            	
              (c)

            	
               ̈
      Compensation shall be as defined in Section 2.01(a)(9)(c) with respect to
      Directors, but  excluding the
  following:

            

    

     

    

    

    
      
        
        

      

      
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    1.05           CONTRIBUTIONS ON BEHALF OF
EMPLOYEES

    

    

    
      	
               
      

            	
              (a)

            	
              Deferral
      Contributions (Complete
      all that apply):

            

    

    

    
      	
               
      

            	
              (1)

            	
               ̈

            	
              Deferral
      Contributions. Subject to any minimum or maximum deferral
      amount

            

    

    provided
below, the Employer shall make a Deferral Contribution in
accordance

    with, and
subject to, Section 4.01 on behalf of each Participant who has an

    executed
salary reduction agreement in effect with the Employer for the

    applicable
calendar year (or portion of the applicable calendar year).

    

    
      	 
      	
              Deferral
      Contributions

              Type
      of Compensation

            	
              Dollar
      Amount

            	
              %
      Amount

            
	 
      	
              Min

            	
              Max

            	
              Min

            	
              Max

            
	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      

    

    

    

     (Note:  With
respect to each type of Compensation, list the minimum and maximum dollar
amounts or
percentages as whole dollar amounts or whole number percentages.)

    

    
      	
               
      

            	
              (2)

            	
               ̈

            	
              Deferral
      Contributions with respect to Bonus Compensation only. The Employer
      requires Participants to enter into a special salary reduction agreement
      to make Deferral Contributions with respect to one or more Bonuses,
      subject to minimum and maximum deferral limitations, as provided in the
      table below.

            

    

    

    
      	
              Deferral
      Contributions

              Type
      of Bonus

            	
              Treated
      As

            	
              Dollar
      Amount

            	
              %
      Amount

            
	
              Performance
      Based

            	
              Non-Performance
      Based

            	
              Min

            	
              Max

            	
              Min

            	
              Max

            
	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      

    

    

    (Note:  With
respect to each type of Bonus, list the minimum and maximum dollar amounts or
percentages as whole dollar amounts or whole number percentages.  In
the event a bonus identified as a Performance-based Bonus above does not
constitute a Performance-based Bonus with respect to any Participant, such Bonus
will be treated as a Non-Performance-based Bonus with respect to such
Participant.)

    

    

    
      	
               
      

            	
              (b)

            	
              Matching
      Contributions (Choose
      (1) or (2) below, and (3) below, as
  applicable):

            

    

    

    
      	
               
      

            	
              (1)

            	
               ̈

            	
              The
      Employer shall make a Matching Contribution on behalf of each Employee
      Participant in an amount described
below:

            

    

    

    
      	
               
      

            	
              (A)   ̈

            	
               % of the
      Employee Participant’s Deferral Contributions for the calendar
      year.

            

    

    

    
      	
               
      

            	
              (B)   ̈

            	
              The
      amount, if any, declared by the Employer in writing, which writing is
      hereby incorporated herein.

            

    

    

    
      	
               
      

            	
               (C)   ̈

            	
              Other:
      _____________________________________________________

            

    

    

    

    
      	
               
      

            	
              (2)

            	
               ̈

            	
              Matching
      Contribution Offset. For each Employee Participant who has made elective
      contributions (as defined in 26 CFR section 1.401(k)-6 (“QP Deferrals”))
      of the maximum permitted under Code section 402(g), or the maximum
      permitted under the terms of the ___________________________ Plan (the
      “QP”),  to the QP, the Employer shall make a
      Matching  Contribution in an amount equal to (A) minus (B)
      below:

            

    

    

    
      	
               
      

            	
              (A)

            	
              The
      matching contributions (as defined in 26 CFR section 1.401(m)-1(a)(2) (“QP
      Match”)) that the Employee Participant would have received under the QP on
      the sum of the Deferral Contributions and the Participant’s QP Deferrals,
      determined as though—

            

    

    

    
      	
              ·  

            	
              no
      limits otherwise imposed by the tax law applied to such QP match;
      and

            

    

    
      	
              ·  

            	
              the
      Employee Participant’s Deferral Contributions had been made to the
      QP.

            

    

    

    

    
      	
               
      

            	
              (B)

            	
              The
      QP Match actually made to such Employee Participant under the QP for the
      applicable calendar year.

            

    

    

    Provided,
however, that the Matching Contributions made on behalf of any Employee
Participant pursuant to this Section 1.05(b)(2) shall be limited as provided in
Section 4.02 hereof.

     

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    
 

    (3)           ̈ Matching
Contribution Limits (Check the
appropriate box (es)):

    

    
      	
               
      

            	
              (A)   ̈  Deferral
      Contributions in excess of  % of the
      Employee Participant’s Compensation for the calendar year shall not be
      considered for Matching
Contributions.

            

    

    

    
      	
               
      

            	
              (B)   ̈  Matching
      Contributions for each Employee Participant for each calendar year shall
      be limited to $ .

            

    

    

    
      	
               
      

            	
              (c)

            	
              Employer
      Contributions

            

    

    

    
      	
               
      

            	
               (1)
       ̈    Fixed
      Employer Contributions. The Employer shall make an Employer Contribution
      on behalf of each Employee Participant in an amount determined as
      described below:

            

    

    

    
      	
              ____________________________________________________________

               

              ____________________________________________________________

            

    

    

    
      	
               
      

            	
              (2)
      þ    Discretionary
      Employer Contributions. The Employer may make Employer Contributions to
      the accounts of Employee Participants in any amount
      (which   amount may be zero), as determined by the Employer
      in its sole discretion from time   to time in a writing,
      which is hereby incorporated
herein.

            

    

    

    

    1.06            CONTRIBUTIONS ON BEHALF OF
DIRECTORS

    

    
      	
               
      

            	
              (a)

            	
               ̈

            	
              Director
      Deferral Contributions

            

    

    

    The
Employer shall make a Deferral Contribution in accordance with, and subject to,
Section 4.01 on behalf of each Director Participant who has an executed deferral
agreement in effect with the Employer for the applicable calendar year (or
portion of the applicable calendar year), which deferral agreement shall be
subject to any minimum and/or maximum deferral amounts provided in the table
below.

    
      	
              Deferral
      Contributions

              Type
      of Compensation

            	
              Dollar
      Amount

            	
              %
      Amount

            
	
              Min

            	
              Max

            	
              Min

            	
              Max

            
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      

    

    

    (Note:  With
respect to each type of Compensation, list the minimum and maximum dollar
amounts or
percentages as whole dollar amounts or whole number percentages.)

    

    (b)               Matching
and Employer Contributions:

    

    
      	
               
      

            	
              (1)   ̈   Matching
      Contributions. The Employer shall make a Matching Contribution on behalf
      of each Director Participant in an amount determined as described
      below:

            

    

    
      	
              ____________________________________________________________

               

              ____________________________________________________________

            

    

    

    
      	
               
      

            	
              (2)   ̈  Fixed
      Employer Contributions. The
      Employer shall make an Employer Contribution on behalf of each Director
      Participant in an amount determined as described
  below:

            

    

    
      	
              ____________________________________________________________

               

              ____________________________________________________________

            

    

    

    
      	
               
      

            	
              (3)   ̈   Discretionary
      Employer Contributions. The Employer may make Employer Contributions to
      the accounts of Director Participants in any amount (which amount may be
      zero), as determined by the Employer in its sole discretion from time to
      time, in a writing, which is hereby incorporated
  herein.

            

    

    

    

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

    

    1.07           DISTRIBUTIONS

    

    The form
and timing of distributions from the Participant’s vested Account shall be made
consistent with the elections in this Section 1.07.

    

    (a)
(1)     Distribution options to be provided to
Participants

    

    
      	 
      	
               

              (A)  Specified
      Date

               

            	
               

              (B)  Specified
      Age

               

            	
               

              (C)  Separation
      From Service

               

            	
               

              (D)  Earlier
      of Separation or Age

               

            	
               

              (E)  Earlier
      of Separation or Specified Date

               

            	
               

              (F)  Disability

               

            	
               

              (G)  Change
      in Control

               

            	
               

              (H)  Death

               

            
	
               

              Deferral
      Contribution

            	
               ̈ Lump
      Sum

               

               ̈
      Installments

            	
               ̈ Lump
      Sum

               

               ̈
      Installments

            	
               ̈ Lump
      Sum

               

               ̈
      Installments

            	
               ̈ Lump
      Sum

               

               ̈
      Installments

            	
               ̈ Lump
      Sum

               

               ̈
      Installments

            	
               ̈ Lump
      Sum

               

               ̈
      Installments

            	
               ̈ Lump
      Sum

               

            	
               ̈ Lump
      Sum

               

               ̈
      Installments

            
	
               

              Matching
      Contributions

            	
               ̈ Lump
      Sum

               

               ̈
      Installments

            	
               ̈ Lump
      Sum

               

               ̈
      Installments

            	
               ̈ Lump
      Sum

               

               ̈
      Installments

            	
               ̈ Lump
      Sum

               

               ̈
      Installments

            	
               ̈ Lump
      Sum

               

               ̈
      Installments

            	
               ̈ Lump
      Sum

               

               ̈
      Installments

            	
               ̈ Lump
      Sum

               

            	
               ̈ Lump
      Sum

               

               ̈
      Installments

            
	
               

              Employer
      Contributions

            	
               ̈ Lump
      Sum

               

               ̈
      Installments

            	
               ̈ Lump
      Sum

               

               ̈
      Installments

            	
               ̈ Lump
      Sum

               

               ̈
      Installments

            	
               ̈ Lump
      Sum

               

               ̈
      Installments

            	
               ̈ Lump
      Sum

               

               ̈
      Installments

            	
               ̈ Lump
      Sum

               

               ̈
      Installments

            	
               ̈ Lump
      Sum

               

            	
               ̈ Lump
      Sum

               

               ̈
      Installments

            

    

    

    

    (Note:  If
the Employer elects (F), (G), or (H)  above, the Employer must also
elect (A), (B), (C), (D), or (E) above, and the Participant must also elect (A),
(B), (C), (D), or (E) above.  In the event the Employer elects only a
single payment trigger and/or payment method above, then such single payment
trigger and/or payment method shall automatically apply to the
Participant.  If the employer elects to provide for payment upon a
specified date or age, and the employer applies a vesting schedule to amounts
that may be subject to such payment trigger(s), the employer must apply a
minimum deferral period, the number of years of which must be greater than the
number of years required for 100% vesting in any such amounts.  If the
employer elects to provide for payment upon disability and/or death, and the
employer applies a vesting schedule to amounts that may be subject to such
payment trigger, the employer must also elect to apply 100% vesting in any such
amounts upon disability and/or death.)

    

    
      	
               
      

            	
              (2)

            	
               ̈

            	
              A
      Participant incurs a Disability when the Participant (Check at least one if Section
      1.07(a)(1)(F) or if Section 1.08(e)(3) is
  elected):

            

    

    

    
      	 	
              (A)

            	
               ̈

            	
              is
      unable to engage in any substantial gainful activity by reason of any
      medically determinable physical or mental impairment that can be expected
      to result in death or can be expected to last for a continuous period of
      not less than 12 months.

            
	 	
              (B)

            	
               ̈

            	
              is,
      by reason of any medically determinable physical or mental impairment that
      can be expected to result in death or can be expected to last for a
      continuous period of not less than 12 months, receiving income replacement
      benefits for a period of not less than 3 months under an accident and
      health plan covering employees of the Employer.

            
	 	
              (C)

            	
               ̈

            	
              is
      determined to be totally disabled by the Social Security Administration or
      the Railroad Retirement Board.

            
	 	
              (D)

            	
               ̈

            	
              is
      determined to be disabled pursuant to the following disability insurance
      program:   the definition of
      disability under which complies with the requirements in regulations under
      Code section 409A.

            

    

    

    (Note:  If
more than one box above is checked, then the Participant will have a Disability
if he satisfies at least one of the descriptions corresponding to one of such
checked boxes.)

    

    
      	
               
      

            	
               (3)

            	
              þ   Regardless
      of any payment trigger and, as applicable, payment method, to which the
      Participant would otherwise be subject pursuant to (1) above, the first to
      occur of the following Plan-level payment triggers will cause payment to
      the Participant commencing pursuant to Section 1.07(c)(1) below in a lump
      sum, provided such Plan-level payment trigger occurs prior to the payment
      trigger to which the Participant would otherwise be
    subject.

            

    

    

    
      	
              Payment
      Trigger

               

            
	 	
              (A)

            	
               ̈

            	
              Separation
      from Service prior
      to:  ________________________________________

            
	 	
              (B)

            	
              þ

            	
              Separation
      from Service

            
	 	
              (C)

            	
               ̈

            	
              Death

            
	 	
              (D)

            	
               ̈

            	
              Change
      in Control

            

    

    

    

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

    

    (b)          Distribution
Election Change

    

                A  Participant

    

    
      	 	
              (1)  ̈

            	
              shall

            
	 	
              (2)
      þ

            	
              shall
      not

            

    

    

    be
permitted to modify a scheduled distribution election in accordance with Section
8.01(b) hereof.

    

    
      	
               
      

            	
              (c)

            	
              Commencement
      of Distributions

            

    

    

    
      	
               
      

            	
              (1)

            	
              Each
      lump sum distribution and the first distribution in a series of
      installment payments (if applicable) shall commence as elected in (A), (B)
      or (C) below:

            

    

    

    
      	 	
              (A)
      þ

            	
              Monthly
      on the 1st
      day of the month which day next follows the applicable triggering event
      described in 1.07(a).

            
	 	
              (B)
       ̈

            	
              Quarterly
      on the _____ day of the following months ____________, ______________,
      _______________, or____________ (list one month in each calendar quarter)
      which day next follows the applicable triggering event described in
      1.07(a).

            
	 	
              (C)
       ̈

            	
              Annually
      on the _____ day of ____________ (month) which day next follows the
      applicable triggering event described in
  1.07(a).

            

    

    

    (Note:  Notwithstanding
the above: a six-month delay shall be imposed with respect to certain
distributions to Specified Employees; a Participant who chooses payment on a
Specified Date will choose a month, year or quarter (as applicable) only, and
payment will be made on the applicable date elected in (A), (B) or (C) above
that falls within such month, year or quarter elected by the
Participant.)

    

    
      	
               
      

            	
              (2)

            	
              The
      commencement of distributions pursuant to the events elected in Section
      1.07(a)(1) and Section 1.07(a)(3) shall be modified by application of the
      following:

            

    

    

    
      	 	
              (A)  ̈

            	
              Separation
      from Service Event Delay – Separation from Service will be treated as not
      having occurred for   months after the
      date of such event.

               

            
	 	
              (B)  ̈

            	
              Plan
      Level Delay – all distribution events (other than those based on Specified
      Date or Specified Age) will be treated as not having occurred for _____
      days (insert number of days but not more than 30).

               

            

    

    

    

    (d)          Installment
Frequency and Duration

    

    If
installments are available under the Plan pursuant to Section 1.07(a), a
Participant shall be permitted to elect that the installments will be paid (Complete 1 and 2
below):

    

                           
(1)             at
the following intervals:

    

    
      	 	
              (A)  ̈

            	
              Monthly
      commencing on the day elected in Section 1.07(c)(1).

            
	 	
              (B)  ̈

               

            	
              Quarterly
      commencing on the day elected in Section1.07(c)(1) (with payments made at
      three-month intervals thereafter).

            
	 	
              (C)
       ̈

            	
              Annually
      commencing on the day elected in Section
  1.07(c)(1).

            

    

    

    

    
      	
               
      

            	
              (2)

            	
              over
      the following term(s) (Complete either (A) or
      (B)):

            

    

    

    
      	
               
      

            	
              (A)
       ̈

            	
              Any
      term of whole years between ____ (minimum of 1) and
      ____  (maximum of 30).

            

    

                                     
(B)  ̈                   Any
of the whole year terms selected below.

    

    
      	
               ̈  1

            	
               ̈  2

            	
               ̈  3

            	
               ̈  4

            	
               ̈  5

            	
               ̈  6

            
	
               ̈  7

            	
               ̈  8

            	
               ̈  9

            	
               ̈
10

            	
               ̈
11

            	
               ̈
  12

            
	
               ̈
13

            	
               ̈
14

            	
               ̈
15

            	
               ̈
16

            	
               ̈
17

            	
               ̈
  18

            
	
               ̈
19

            	
               ̈
20

            	
               ̈
21

            	
               ̈
22

            	
               ̈
23

            	
               ̈
  24

            
	
               ̈
25

            	
               ̈
26

            	
               ̈
27

            	
               ̈
28

            	
               ̈
29

            	
               ̈
  30

            

    

    

    (Note:  Only
elect a term of one year if Section 1.07(d)(1)(A) and/or Section 1.07(d)(1)(B)
is elected above.)

     

    
 

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

    

    (e)          Conversion
to Lump Sum

    

    
      	 	
               ̈

            	
              Notwithstanding
      anything herein to the contrary , if the Participant’s vested Account at
      the time such Account becomes payable to him hereunder does not exceed $
        distribution of the
      Participant’s vested Account shall automatically be made in the form of a
      single lump sum at the time prescribed in Section 1.07(c)(1).

               

            

    

    
      	
               
      

            	
              (f)

            	
              Distribution
      Rules Applicable to Pre-effective Date
Accruals

            

    

    

    
      	 	
               ̈

            	
              Benefits
      accrued under the Plan (subject to Code section 409A) prior to the date in
      Section 1.01(b)(1) above are subject to distribution rules not described
      in  Section 1.07(a) through (e), and such rules are described in
      Attachment A Re: PRE EFFECTIVE DATE ACCRUAL DISTRIBUTION
      RULES.

            

    

    

    

    1.08            VESTING
SCHEDULE

    

    
      	
               
      

            	
              (a)

            	
              (1)

            	
              The
      Participant’s vested percentage in Matching Contributions elected in
      Section 1.05(b)

            

    

    shall be
based upon the following schedule and unless Section 1.08(a)(2) is
checked

    below
will be based on the elapsed time method as described in Section
7.03(b).

    

    

    (2)           £ Vesting shall be based on
the class year method as described in Section 7.03(c).

    

    (b)           (1)           The
Participant’s vested percentage in Employer Contributions elected in Section
1.05(c)

    shall be
based upon the following schedule and unless Section 1.08(b)(2) is checked below
will be based on the elapsed time  method as described in Section
7.03(b).

    

    
      	
              Years of Service

            	
              Vesting %

            
	
              1

            	
              100

            

    

    

    

    (2)           £ Vesting shall be based on
the class year method as described in Section 7.03(c).

    

    (c)            ̈  Years
of Service shall exclude (Check one.):

    

    
      	
               
      

            	
              (1)   ̈

            	
              for
      new plans, service prior to the Effective Date as defined in Section
      1.01(b)(2)(A).

            

    

    

    
      	
               
      

            	
              (2)   ̈

            	
              for
      existing plans converting from another plan document, service prior to the
      original  Effective Date as defined in Section
      1.01(b)(2)(B).

            

    

    

    (Note:  Do
not elect to apply this Section 1.08(c) if vesting is based only on the class
year method.)

    

    

    
      	
               
      

            	
              (d)

            	
               ̈

            	
              Notwithstanding
      anything to the contrary herein, a Participant will forfeit his
      Matching

            

    

    Contributions
and Employer Contributions (regardless of whether vested) upon the occurrence of
the following event(s):

    
      	
              ____________________________________________________________

               

              ____________________________________________________________

            

    

    

    (Note:
Contributions with respect to Directors, which are 100% vested at all times, are
subject to the rule in this subsection (d).)

    

    
      	
               
      

            	
              (e)

            	
              A
      Participant will be 100% vested in his Matching Contributions and Employer
      Contributions upon (Check the appropriate
      box(es)):

            

    

     

                                  
(1)  ̈                      Retirement
eligibility is the date the Participant attains age 0 and
completes

    0 Years of Service,
as defined in Section 7.03(b).

     

     

                                  
(2) o   
Death    

    
      	
               
      

            	
              (3)
       ̈

            	
              The
      date on which the Participant becomes disabled, as determined under
      Section 1.07(a)(2).

            

    

    

    (Note:  Participants
will automatically vest upon Change in Control if Section 1.07(a)(1)(G) is
elected.)

    

    
      	
               
      

            	
              (f)

            	
               ̈

            	
              Years
      of Service in Section 1.08 (a)(1) and Section 1.08 (b)(1) shall include
      service with the following
employers:

            

    

    _________________________________________________________________

    

    _________________________________________________________________

    

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

    
 

    1.09            INVESTMENT
DECISIONS

    

    A
Participant’s Account shall be treated as invested in the Permissible
Investments as directed by the Participant unless otherwise provided
below:

    

    ___________________________________________________________________

    

    ___________________________________________________________________

    

    

    

    1.10            ADDITIONAL
PROVISIONS

    

    The
Employer may elect Option below and complete the Superseding Provisions Addendum
to describe overriding provisions that are not otherwise reflected in this
Adoption Agreement.

    

    
      	
               
      

            	
              þ

            	
              The Employer has completed the
      Superseding Provisions Addendum to reflect the provisions of the Plan that
      supersede provisions of this Adoption Agreement and/or the Basic Plan
      Document.

            

    

     

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

    EXECUTION
PAGE

    (Fidelity’s
Copy)

    

    

    

    IN
WITNESS WHEREOF, the Employer has caused this Adoption Agreement to be executed
this ________day of _______________, 20_______.

    

    

    Employer                      

    

    

    By                      

    

    

    Title                      

    

    

    

    

    

    

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

    EXECUTION
PAGE

    (Employer's
Copy)

    

    

    

    IN
WITNESS WHEREOF, the Employer has caused this Adoption Agreement to be executed
this ________day of _______________, 20______.

    

    

    Employer                      

    

    

    By                      

    

    

    Title                      

    

    

    

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

     AMENDMENT
EXECUTION PAGE

    (Fidelity’s
Copy)

    

    

    
      	
              Plan
      Name:

            	
              Cabot
      Microelectronics Corporation Supplemental Employee Retirement Plan (the
      “Plan”)

            
	
              Employer:

            	
              Cabot
      Microelectronics Corporation

            

    

    

    (Note:
These execution pages are to be completed in the event the Employer modifies any
prior election(s) or makes a new election(s) in this Adoption
Agreement.  Attach the amended page(s) of the Adoption Agreement to
these execution pages.)

    

    The
following section(s) of the Plan are hereby amended effective as of the date(s)
set forth below:

    

    
      	
               

              Section
      Amended

            	
               

              Effective
      Date

            
	 
      	 
      
	 
      	 
      
	 
      	 
      
	 
      	 
      

    

    

    

    IN
WITNESS WHEREOF, the Employer has caused this Amendment to be executed on the
date below.

    

    
      	
               
      

            	
              Employer:

            	 

    

    

    
      	
               
      

            	
              By:

            	 

    

    

    
      	
               
      

            	
              Title:

            	 

    

    

    
      	
               
      

            	
              Date:

            	 

    

    

    

    

    
      
         

      

      
        12

        
          

        

      

      
         

      

    

     AMENDMENT
EXECUTION PAGE

    (Employer’s
Copy)

    

    

    
      	
              Plan
      Name:

            	
              Cabot
      Microelectronics Corporation Supplemental Employee Retirement Plan (the
      “Plan”)

            
	
              Employer:

            	
              Cabot
      Microelectronics Corporation

            

    

    

    (Note:
These execution pages are to be completed in the event the Employer modifies any
prior election(s) or makes a new election(s) in this Adoption Agreement. Attach
the amended page(s) of the Adoption Agreement to these execution
pages.)

    

    
      	
               

              Section
      Amended

            	
               

              Effective
      Date

            
	 
      	 
      
	 
      	 
      
	 
      	 
      
	 
      	 
      

    

    

    

    

    IN
WITNESS WHEREOF, the Employer has caused this Amendment to be executed on the
date below.

    

    

    
      	
               
      

            	
              Employer:

            	 

    

    

    
      	
               
      

            	
              By:

            	 

    

    

    
      	
               
      

            	
              Title:

            	 

    

    

    
      	
               
      

            	
              Date:

            	 

    

    

    
      
         

      

      
        13

        
          

        

      

      
         

      

    

    
      	
               
      

            	
               ATTACHMENT
      A

            

    

    

    
      	
               
      

            	
              Re:   PRE
      EFFECTIVE DATE ACCRUAL DISTRIBUTION
RULES

            

    

    

    

    
      	
              Plan
      Name:

            	
              Cabot
      Microelectronics Corporation Supplemental Employee Retirement Plan (the
      “Plan”)

            

    

    

     

    

     

    

     

    

     

    

     

    

     

    

     

    

     

    

    
      
         

      

      
        14

        
          

        

      

      
         

      

    

    ATTACHMENT
B

    

    Re:  SUPERSEDING
PROVISIONS

    for

    
      	
              Plan
      Name:

            	
              Cabot
      Microelectronics Corporation Supplemental Employee Retirement Plan (the
      “Plan”)

            

    

    

     

    
      	 	
              (a)

            	
              Superseding
      Provision(s) – The following provisions supersede other provisions of this
      Adoption Agreement and/or the Basic Plan Document as described
      below:

            

    

     

    1.05  The employer
shall make a Deferral Contribution in accordance with section 4.01 on behalf of
each participant who has an executed salary reduction agreement in effect with
the employer for the Plan Year (or portion of the Plan Year) in question, not to
exceed 4% of compensation for that Plan Year.

     

     

     

    15

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