Document:

EXHIBIT 10.9

         DESCRIPTION OF NOVEON, INC. 2001 MANAGEMENT INCENTIVE PLAN

The 2001 Management Incentive Plan is broadly intended to motivate and
retain qualified individuals who have the opportunity to influence our
financial results significantly and enhance our value. The philosophy for
this incentive compensation plan is to provide awards when financial
objectives are achieved and provide reduced or no awards when the
objectives are not achieved.

An individual's annual cash bonus target under the 2001 Management
Incentive Plan is expressed as a percentage of his or her base salary for
senior executives (salary midpoint for other participants), with the
percentages of base salary (or salary midpoint) increasing with the level
of the job. A total target incentive pool is created for the corporate
staff and for each major business segment. Incentive payments begin at 25
percent of the target amount when the threshold financial objective of the
corporate staff and business segments is achieved. There is no upward cap
on these incentive payments.

Corporate staff financial goals are based on total company EBITDA
performance, working capital measures and other company business
objectives. Business segment manager financial goals are based on both
total company and business segment EBITDA performance, total company
working capital measures and other company business objectives.

Employees are eligible for participation in the 2001 Management Incentive
Plan based on their job level and as selected by senior management. The
2001 Management Incentive Plan was administered by our officers with
oversight from the Compensation Committee. Bonuses under the 2001
Management Incentive Plan were paid in February and March 2002.Exhibit 10.10

                               PMD GROUP INC.

                  2001 SPECIAL DEFERRED COMPENSATION PLAN

                                 ARTICLE I
                                  Purpose

          The purpose of this 2001 Special Deferred Compensation Plan (the
"Plan") of PMD Group Inc. (the "Company") is to provide a select group of
senior managers of the Performance Materials business (the "PM Business")
who become employees of the Company the ability to defer the receipt of
compensation, for the periods provided in this Plan. It is intended that
this Plan shall be considered an unfunded plan maintained for the purpose
of providing deferred compensation for a select group of management or
highly compensated employees for purposes of Title I of the Employee
Retirement Income Security Act of 1974, as amended, and shall be construed
accordingly.

                                 ARTICLE II
                                Definitions

          For purposes of this Plan, the following terms shall have the
following meanings:

          2.1 "ACCOUNT" shall mean the memorandum account established for a
Participant pursuant to Section 4.1.

          2.2 "ADMINISTRATOR" shall mean the person or committee who shall
be responsible for administering and interpreting the Plan pursuant to
Section 6.1.

          2.3 "ASSIGNMENT AGREEMENT" shall mean an Agreement Relating to
Deferred Compensation Arrangements, substantially in the form attached
hereto as Exhibit A.

          2.4 "BENEFICIARY" shall mean the person or persons designated
from time to time in writing delivered to the Administrator by a
Participant to receive payments under this Plan after the death of such
Participant or, in the absence of any such designation or in the event that
such designated person or persons shall predecease such Participant, the
Participant's estate. A Participant shall designate a Beneficiary in the
Deferral Election Agreement executed by the Participant and thereafter may
change his Beneficiary designation by filing with the Administrator an
Election Change Form.

          2.5 "COMPANY" shall mean the PMD Group Inc., a Delaware
corporation.

          2.6 "CLOSING DATE" shall have the meaning given such term in the
Acquisition Agreement.

          2.7 "DEFERRAL ELECTION AGREEMENT" shall mean the agreement as set
forth in Exhibit B hereto, executed by an Eligible Employee to elect to
participate in the Plan.

          2.8 "DEFERRED AMOUNT" shall mean as of any date, a Participant's
Deferred Compensation plus any gains or losses attributable thereto as of
such date which have been credited to the Account of such Participant, less
any amounts paid to such Participant pursuant to Article V hereof.

          2.9 "DEFERRED COMPENSATION" shall mean, with respect to a
Participant, an amount equal to the cash payment received by the Company
pursuant to the Assignment Agreement.

          2.10 "ELECTION CHANGE FORM" shall mean a form designated as an
Election Change Form by the Administrator for use under this Plan.

          2.11 "ELIGIBLE EMPLOYEE" shall mean each person offered the
opportunity to participate in the Plan by the Administrator.

          2.12 "INVESTMENT CHOICES" shall mean the investment vehicles made
available by the Administrator from time to time in which a Participant's
Deferred Amount will be deemed to be invested pursuant to Section 4.2.

          2.13 "PARTICIPANT" shall mean any Eligible Employee who enters
into a Deferral Election Agreement pursuant to Section 3.1.

          2.14 "PLAN" shall mean this PMD Group Inc. 2001 Special Deferred
Compensation Plan.

          2.15 "SUBSTANTIAL HARDSHIP" shall mean an unanticipated emergency
or necessity that is caused by events outside of the control of the
Participant (or in the event of the Participant's death, his Beneficiary)
that would result in severe financial hardship to the Participant (or in
the event of the Participant's death, his Beneficiary), as determined in
the sole discretion of the Administrator.

                                ARTICLE III
                             Deferral of Awards

          3.1 Deferral Election Agreement. Each Eligible Employee may elect
to participate in the Plan by executing an Assignment Agreement and a
Deferral Election Agreement. The Deferral Election Agreement shall specify
the Investment Choices in which such Participant's Deferred Compensation
shall be deemed to be invested and shall designate a Beneficiary.

          3.2 Distribution Election. In addition to the foregoing, the
Election Form shall specify the date on which the payment of all or a
portion of the Deferred Amount shall commence (the "Payment Commencement
Date") and whether the payment of such Deferred Amount shall be made in a
single lump sum, or in five, ten or fifteen annual installments. If a
Participant elects to have his Deferred Amount paid in annual installments,
the first installment shall be payable on the Payment Commencement Date and
each installment thereafter shall be payable on the anniversary of the
Payment Commencement Date, with the amount of each installment equal to
such Participant's Deferred Amount immediately prior to payment of the
installment divided by the number of installments remaining to be paid.

          3.3 Election Date. To participate in the Plan an Eligible
Employee must execute an Assignment Agreement and Deferral Election
Agreements no later than February 23, 2001.

                                 ARTICLE IV
                       Treatment of Deferred Amounts

          4.1 Memorandum Account. The Company shall establish on its books
a memorandum account (the "Account") for each Participant who has a
Deferred Amount under this Plan. As promptly as practicable (but in no
event more than thirty (30) days) following the Closing Date, the amount of
each Participant's Deferred Compensation shall be credited to such
Participant's Account.

          4.2 Investment of Deferred Compensation. A Participant's Deferred
Compensation shall be deemed to be invested among the Investment Choices as
selected by the Participant. Participants' Accounts shall be adjusted
periodically (but not less frequently than quarterly) to reflect the
performance of the Investment Choices of each Participant, so that, to the
greatest extent practicable, the value of a Participant's Account shall be
determined as if the Deferred Amount were actually invested among the
Investment Choices as directed by such Participant. Participants may, not
more frequently than once in any twelve-month period, elect to change the
manner in which their Deferred Amounts are invested among the Investment
Choices by completing an Election Change Form and submitting it to the
Administrator or its designated representative. Any such change will become
effective as soon as practicable after the Election Change Form is received
by the Administrator or its designated representative.

          4.3 Unsecured Obligation. The Plan and the crediting of Accounts
hereunder shall not constitute a trust and shall be merely for the purpose
of recording an unsecured contractual obligation.

          4.4 Reports. Until the entire Deferred Amount in a Participant's
Account shall have been paid in full, the Company will furnish to the
Participant, at least annually, a report setting forth the status of his
Account.

                                 ARTICLE V
                        Payment of Deferred Amounts

          5.1 Form of Payment. All payments of Deferred Amounts under this
Plan shall be made in cash.

          5.2 Payment of Deferred Amount. Except as provided in Section
5.3, the Deferred Amount in a Participant's Account shall be paid or
commence to be paid to such Participant only in accordance with Section 3.2
hereof.

          5.3 Acceleration of Payments. Notwithstanding any other provision
of this Plan to the contrary, upon a Participant's Substantial Hardship
(or, in the event of the Participant's death, his Beneficiary's Substantial
Hardship), and with the consent of the Administrator, a Participant (or, in
the event of the Participant's death, his Beneficiary) may withdraw such
portion of his Deferred Amount as the Administrator determines is necessary
to satisfy the Participant's financial emergency (or, in the event of the
Participant's death, his Beneficiary's financial emergency).

                                 ARTICLE VI
                               Administration

          6.1 Administrator. The Administrator of the Plan shall be the
Company's Vice President of Organizational Development and Administration,
except as otherwise determined by the Board of Directors of the Company or
its designated representative. The Administrator shall have full authority
to construe and interpret the terms and provisions of the Plan, to adopt,
alter and repeal such administrative rules, guidelines and practices
governing this Plan and perform all acts, including the delegation of its
administrative responsibilities, as it shall, from time to time, deem
advisable, and to otherwise supervise the administration of this Plan. The
Administrator may correct any defect, supply any omission or reconcile any
inconsistency in the Plan, or in any election hereunder, in the manner and
to the extent it shall deem necessary to carry the Plan into effect. Any
decision, interpretation or other action made or taken in good faith by or
at the direction of the Administrator in connection with the Plan shall be
within the absolute discretion of the Administrator and shall be final,
binding and conclusive on the Company and all employees and Participants
and their respective heirs, executors, administrators, successors and
assigns. A Participant who is also the Administrator, a member of a
committee that is the Administrator or a person to whom the Administrator
has delegated responsibility pursuant to this Section 6.1 shall not
participate in any decision involving a request made by him or relating in
any way to his rights, duties and obligations as a Participant (unless such
decision relates to all Participants generally and in a similar manner).

          6.2 Liability. No member of the Board of Directors of the Company
or any of its affiliates, nor the Administrator or an employee or agent of
the Company or any of its affiliates, shall be liable for any act or action
hereunder, whether of omission or commission, by any other person to whom
duties in connection with the administration of the Plan have been
delegated or, except in circumstances involving his bad faith, gross
negligence or fraud, for anything done or omitted to be done by himself.
The Company or the Administrator may consult with legal counsel, who may be
counsel for the Company or other counsel, with respect to its obligations
and duties hereunder, or with respect to any action or proceeding or any
question of law, and shall not be liable with respect to any action taken
or omitted by it in good faith pursuant to the advice of such counsel.

                                ARTICLE VII
                               Miscellaneous

          7.1 Participants' Rights. A Participant, at all times, shall have
an immediate one hundred percent (100%) vested interest in his Account.

          7.2 Amendment or Termination. Notwithstanding any other provision
of this Plan, the Company, by action of the Board of Directors of the
Company or its designated representative, may at any time, and from time to
time, amend, in whole or in part, any or all of the provisions of the Plan,
or suspend or terminate it entirely; provided, however, that any such
amendment, suspension or termination may not, without a Participant's
consent, adversely affect any Deferred Amount credited to such
Participant's Account prior to such amendment, suspension or termination.
Notwithstanding the foregoing, the Company may change one or all of the
Investment Choices at any time, and upon any termination of this Plan, the
Company may in its sole discretion accelerate the payment of all Deferred
Amounts credited as of the date of termination of this Plan. The Plan shall
remain in effect until all obligations hereunder have been satisfied or
until it is terminated pursuant to this Section 7.2.

          7.3 Expenses. The Company will bear all expenses incurred in
administering this Plan and no part thereof shall be charged against any
Participant's Account or any amounts distributable hereunder.

          7.4 Withholding. The Company shall withhold from Participants'
compensation, or from amounts payable hereunder, any federal, state or
local taxes required by law to be withheld in connection with the deferral
or payment of any amounts hereunder.

          7.5 No Obligation. Neither this Plan nor any elections hereunder
shall create any obligation on the Company to continue any existing
incentive compensation plans or policies or to establish or continue any
other programs, plans or policies of any kind. Neither this Plan nor any
election made pursuant to this Plan shall give any Participant or other
employee the right to receive benefits not specifically provided for by the
Plan, nor any right with respect to continuance of employment by the
Company, nor shall there be a limitation in any way on the right of the
Company to terminate his employment at any time.

          7.6 No Assignment. Except by will or the laws of descent and
distribution, no right or interest in any Account or Deferred Amount under
this Plan may be assigned, transferred, pledged or hypothecated, and no
right or interest of any Participant in any Account hereunder or to any
Deferred Amount shall be subject to any lien, pledge, encumbrance, charge,
garnishment, execution, alienation, obligation or liability of such
Participant, whether voluntary or involuntary, including, but not limited
to, any liability that is for alimony or other payments for the support of
a spouse or former spouse, or for any other relative of a Participant.

          7.7 Facility of Payment. Any amounts payable hereunder to any
person who is under legal disability or who, in the judgment of the
Administrator, is unable to manage his financial affairs, may be paid to
the legal representative of such person or may be applied for the benefit
of such person in any manner that the Company may select. Any such payment
shall be deemed to be payment for such person's Account, and shall be a
complete discharge of all liability of the Company with respect to the
amount so paid.

          7.8 Applicable Law. This Plan and the obligations of the Company
hereunder shall be subject to all applicable federal and state laws, rules
and regulations and to such approvals by any governmental or regulatory
agency as may from time to time be required.

          7.9 Governing Law. This Plan and actions taken in connection
herewith shall be governed and construed in accordance with the laws of the
State of New York (regardless of the law that might otherwise govern under
applicable New York principles of conflict of laws). Any provision of this
Plan prohibited by the law of any jurisdiction shall, as to such
jurisdiction, be ineffective to the extent of such prohibition without
invalidating the remaining provisions hereof.

          7.10 Construction. Wherever any words are used in this Plan in
the masculine gender they shall be construed as though they were also used
in the feminine gender in all cases where they would so apply, and wherever
any words are used herein in the singular form they shall be construed as
though they were also used in the plural form in all cases where they would
so apply. The titles to sections of this Plan are intended solely as a
convenience and shall not be used as an aid in construction of any
provisions hereof.

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