Document:

Exhibit

EXHIBIT 10.33
October 1, 2018

Mr. Brad Norton
[Address]

Dear Brad:

The purpose of this letter is to document the terms of Tenneco Inc.’s (“Tenneco”) offer of employment effective as of the closing of Tenneco’s acquisition of Federal-Mogul (the “Closing”).  

The key terms of Tenneco’s offer of employment are described below.

		
	1.
	Position:  Your employment with Tenneco (and its affiliates) will commence effective as of the Closing as Tenneco’s Executive Vice President and President Original Equipment and, following the successful completion of Tenneco’s previously announced intention to separate into two independent publicly traded companies (the “Spinoff”), you will continue in this position with the future “Aftermarket and Ride Performance” company.  You will report to Brian Kesseler, who, immediately following the Closing, will be the Co-Chief Executive Officer of Tenneco and, immediately following the Spinoff, will be the Chairman and Chief Executive Officer of the future Aftermarket and Ride Performance company.

		
	2.
	Base Salary:  Your initial base salary will be $700,000 per year ($58,333.33 per month) less appropriate taxes and withholding, paid in accordance with Tenneco’s normal payroll practices.  Beginning in 2020 and each year thereafter, your base salary will be reviewed and, in turn, may be adjusted, subject to approval by the Compensation Committee of Tenneco’s Board of Directors (the “Compensation Committee”).  

		
	3.
	Annual Incentive Compensation:  Your target bonus opportunity for the 2018 calendar year will remain at 100% of your annual base salary (or $700,000).  The 2018 bonus will be determined and payable on the same terms and conditions as would have applied under the Federal-Mogul bonus plan as in effect prior to the Closing, including satisfaction of any applicable performance criteria.  Beginning January 1, 2019, you will be eligible to participate in Tenneco’s executive annual incentive plan in a manner consistent with other Tenneco executives.  The terms of the annual incentive plan are set forth in the Tenneco Inc. Annual Incentive Plan (“AIP” - copy attached).  Your initial target bonus opportunity for the 2019 calendar year performance period under the AIP will be 80% of your annual base salary (or $560,000 based on the offered salary) although the actual value will be determined by the Compensation Committee.  The payment of an annual incentive to you under the AIP is subject to achievement of pre-defined performance goals for the company, the approval by the Compensation Committee, as well as the terms of the AIP (or successor plan).

		
	4.
	Long-Term Incentive Compensation:  Your long-term incentive compensation (“LTI”) will be subject to the following:

		
	a.
	Your outstanding LTI granted by Federal-Mogul for the period 2016-2018 will remain in effect through December 31, 2018 in accordance with its terms.  

		
	b.
	Your outstanding LTI granted by Federal-Mogul for the periods 2017-2019 and 2018-2020 will be adjusted in accordance with the applicable plans to reflect Tenneco’s acquisition of Federal-Mogul and the Spinoff.  

		
	c.
	Beginning in 2019, you will be eligible to participate in Tenneco’s LTI plan in a manner consistent with other similarly-situated Tenneco executives.  The terms of the LTI plan are set forth in the Tenneco Long-Term Incentive Plan, as amended, a copy of which is attached.  Each year the Compensation Committee will determine and approve the mix of LTI awards that will be granted to you and the aggregate target value of these awards.  Your first eligibility for a full LTI award will be in February 2019.  The final award size, award type, performance conditions and other terms of this award will be approved by the Compensation Committee in February 2019 at the same time the terms of these awards are established for other executives at the company.  Your 2019 LTI award is currently estimated to have a $1,100,000 value.  

		
	5.
	Health, Welfare and Retirement Benefits:  For the remainder of calendar year 2018, you will continue to participate in the health, welfare and retirement plans in which you participate immediately prior to the Closing, subject to the terms and conditions of such plans.  Effective as of January 1, 2019, you will be eligible to participate in Tenneco’s broad-based health and welfare plans and Tenneco’s 401(k) Plan in a manner consistent with other similarly-situated executives of the company.  The 401(k) plan will provide a 100% company match on your first 3%, and 50% of your next 2%, of base pay contributions and we expect that it will provide a base pay company retirement contribution of between 2.5% and 4% of salary (depending on your age at the relevant time and after you have completed a year of service, taking into account your Federal-Mogul service as of the Closing), subject to 401(k) Plan and IRS maximums.  Please refer to benefit plan documents for specific terms and eligibility. The company reserves the right to change these benefit programs and any of our other benefit programs.  Effective as of January 1, 2019, you will also be eligible to participate in Tenneco’s Excess Benefit Plan which we expect will provide you with a benefit of between 2.5% and 4.0% of your bonus compensation and matching contributions and company retirement contributions at the rate applicable under the plan on your compensation in excess of the IRS limitation on compensation under section 401(a)(17) of the Internal Revenue Code.  

		
	6.
	Vacation and holiday paid time off:   You will be entitled to a total of four weeks of paid vacation per year:  two weeks in accordance with the provisions of the company’s vacation policy and two additional negotiated weeks.  Your vacation accrual will thereafter increase only in accordance with the vacation schedule in the policy, taking into account your service with Federal-Mogul as of the Closing.  In addition, the company is typically closed during the week between Christmas and New Year’s Day holidays.  You will also be eligible for paid holidays and personal floating holidays in accordance with the company’s policies.  When you leave employment with Tenneco, you will receive a payment for any vacation you have accrued and not used.  Vacation is prorated to your date of employment and accrued on a monthly basis; provided, however, that you will retain any accrued but unpaid vacation that you have as of the Closing.

		
	7.
	Automobile Allowance:  You will continue to receive an automobile allowance through December 31, 2018.  You will not be entitled to this benefit after calendar year 2018. 

		
	8.
	Severance Through December 31, 2018:  For the remainder of calendar year 2018, you will continue to be eligible to participate in the Federal-Mogul LLC Change in Control and Severance Plan (the “F-M CIC Severance Plan”) and the Federal-Mogul LLC Severance Plan for Salaried Employees (the “F-M Severance Plan”) in accordance with their terms; provided, however, that you hereby agree to waive all of your rights under and with respect to the F-M CIC Severance Plan and the F-M Severance Plan (and any other agreements with Federal-Mogul) to terminate employment for “good reason” or “constructive discharge” or “constructive termination” (or terms of similar import) and to receive payments and benefits thereunder after the Closing on account of any such termination.  Your eligibility for severance payments and benefits after December 31, 2018 are described below.

		
	9.
	Change-In-Control (CIC) Protection:  You will be eligible to participate in Tenneco’s Change-In-Control Severance Benefit Plan for Key Executives (the “CIC Plan”) effective as of January 1, 2019.  Benefits under the CIC Plan are payable if you are discharged (either actually or constructively) within two years after a change-in-control that occurs after the effective date of your employment.  The CIC Plan generally provides a lump-sum payment equal to two times base salary and targeted annual bonus in effect immediately prior to the change-in-control for Group II level participants.  Continuing participation in certain insurance plans and outplacement services are also provided.

		
	10.
	Severance (not related to CIC):  You will be eligible to participate in the Tenneco Automotive Operating Company Inc. Severance Benefit Plan (the “Severance Plan”) effective as of January 1, 2019.  Benefits are payable under the Severance Plan if you are discharged by the company other than for Cause or if you terminate due to Constructive Termination (and, in any case, other than under circumstances which would entitle you to benefits under the CIC Plan).  The Severance Plan generally provides a lump-sum payment equal to one times annual base salary and targeted annual bonus for the year in which the termination occurs for Group I participants, subject to your execution of a general release and such other documents as the company may reasonably request.  The Severance Plan also provides a medical coverage subsidy in certain cases and outplacement benefits.  “Cause” and “Constructive Termination” have the meanings specified in the Severance Plan. 

		
	11.
	Stock Ownership Guidelines:  Upon employment, you will be subject to Tenneco’s stock ownership guideline policy, requiring that you hold qualifying shares of Tenneco equal to three times base salary, to be attained by the first month of January following five years of employment.

		
	12.
	Insider Trading Policy:  Upon employment, you will be subject to Tenneco’s Insider Trading Policy, which, among other things, limits the timing and types of transactions you may make with respect to Tenneco securities and related derivatives.

		
	13.
	Employment at Will:  This offer does not constitute a contract of employment for any specific period of time, but will create an employment at-will relationship that may be terminated at any time by you or the company, with or without cause.

		
	14.
	Effect on Other Arrangements:  The foregoing terms and conditions of employment supersede all prior agreements between you and Federal-Mogul Corporation, Federal-Mogul LLC and/or any of their affiliates relating to the subject matter of this letter. In addition, in your new position and for periods after December 31, 2018, you will not be eligible to participate in (or receive benefits under) the F-M CIC Severance Plan or the    F-M Severance Plan but instead you will be eligible to participate in Tenneco severance plans as described above.  By accepting this offer, you hereby agree (a) that you hereby waive your participation in, and all of your rights under and with respect to, the F-M CIC Severance Plan and the F-M Severance Plan (including any rights to payments or benefits), effective for periods after December 31, 2018, (b) you hereby waive your rights under and with respect to the F-M CIC Severance Plan, the F-M Severance Plan and any other agreements with Federal-Mogul to terminate employment for “good reason” or “constructive discharge” or “constructive termination” (or terms of similar import) and to receive payments and benefits thereunder on account of any such termination (as described in Section 8), effective as of the Closing, and (c) that this letter constitutes a termination of your participation in the F-M CIC Severance Plan and the F-M Severance Plan along with any other agreements with Federal-Mogul pertaining to your compensation and/or employment (other than specifically described herein), effective as of the Closing.  The foregoing waivers and termination will be effective as of the Closing except as expressly provided herein.  

Your offer is contingent upon the verification of the information you have provided to the company, successful completion of employment paperwork and execution of the Tenneco Confidentiality Agreement (this will be part of your “on-boarding” process).  

Two copies of this offer letter have been provided.  Please sign the offer letter and return it to me as soon as possible.  The second copy should be retained for your personal records.

Brad, we look forward to you joining Tenneco and are excited for you to contribute and share in its future success.  Please contact me to acknowledge your acceptance or with any other questions or concerns.

Sincerely,

/s/ Kaled Awada

Kaled Awada
Senior Vice President and Chief Human Resources Officer
Tenneco Automotive Operating Company Inc., a Tenneco company

_____________________________________________________________________________________________                                                                                            

I have read, understand and accept this offer of employment effective as of the Closing.  In particular, I understand and knowingly agree to the provisions of Section 14 hereof relating to my waiver of rights under and with respect to, and termination of participation in, benefit plans.  

By: /s/ Bradley S. Norton                           Date:  Oct. 2, 2018

Print Name:  Bradley S. NortonExhibit

EXHIBIT 10.35
TENNECO
EXCESS BENEFIT PLAN

(As Amended and Restated Effective as of January 1, 2020)
SECTION 1

GENERAL

1.1.History, Purpose and Effective Date.  Tenneco Inc. previously adopted the Tenneco Inc. Excess Benefit Plan, effective as of January 1, 2007, to provide benefits to eligible employees of the Company and the Employers (as defined in subsection 1.2) whose benefits under the Tenneco 401(k) Retirement Savings Plan are limited as the result of certain limitations of the Internal Revenue Code of 1986, as amended (the “Code”), and as a result of the compensation that is taken into account under such plan for contribution purposes.  The Plan was amended and restated effective as of January 1, 2013 and has been further amended.  Effective as of January 1, 2020, certain liabilities under the Plan were transferred to the DRiV Incorporated Excess Benefit Plan (the “DRiV Plan”) as described in Section 4 hereof.  The following provisions constitute an amendment, restatement and continuation of the Tenneco Excess Benefit Plan (the “Plan”) effective as of January 1, 2020 (the “Effective Date”).  The Plan is intended to constitute an unfunded plan maintained primarily for the purpose of providing deferred compensation for a select group of management or highly compensated employees.  The Plan is intended to comply with section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) and will be interpreted and administered in accordance therewith.

1.2.Employers and Related Companies.  Tenneco Automotive Operating Company Inc. (the “Company”) and any Related Company which, with the consent of the Company, adopts the Plan are referred to below collectively as the “Employers” and individually as an “Employer”.  The term “Related Company” means any corporation or trade or business during any period that it is, along with the Company, a member of a controlled group of trades or businesses within the meaning of sections 414(b) and (c) of the Code.  As of the Effective Date, without any further action of any person, (a) Tenneco Automotive Operating Company will continue as an Employer under the Plan and (b) neither DRiV Incorporated (“DRiV”) nor any of its subsidiaries shall be Employers under the Plan.  Other Employers, if applicable, are set forth on Schedule 1 hereof.

1.3.Plan Administration.  The authority to control and manage the operation and administration of the Plan will be vested in the committee or committees established by the Company with the authority to take administrative actions under and with respect to the Plan (the “Administrative Committee”).  In controlling and managing the operation and administration of the Plan, the Administrative Committee will have full and discretionary power and authority to conclusively interpret and construe the provisions of the Plan, to determine the amount of benefits and the rights or eligibility of employees or Participants under the Plan and to establish a claims procedure, and will have such other powers and authorities as may be necessary to discharge its duties hereunder.  Any interpretation of the Plan and any decision made by the Administrative Committee on any matter within the discretion of the Administrative Committee shall be binding on all persons.  A misstatement or other mistake of fact shall be corrected when it becomes known, and the Administrative Committee shall make such adjustment on account thereof as it considers equitable and practicable.  The Administrative Committee may delegate such of its ministerial or discretionary duties and functions as it may deem appropriate to any employee or group of employees of any Employer.  Notwithstanding the foregoing, no member of the Administrative Committee may decide any matter relating to his or her own benefits under the Plan.

1.4.Source of Benefit Payments.  Benefits payable under the Plan by any Employer will be paid from the general revenues and assets of such Employer and no Employer will be required to set up a funded reserve or otherwise set aside specific funds for the payment of its obligations under the Plan.  None of the individuals entitled to benefits under the Plan will have any claim on, or any beneficial ownership interest in, any assets of any Employer, and any rights of such individuals under the Plan will constitute unsecured contractual rights only.

1.5.Applicable Laws.  The Plan will be construed and administered in accordance with the internal laws of the State of Michigan to the extent that such laws are not preempted by the laws of the United States of America.

1.6.Gender and Number.  Where the context admits, words in any gender will include any other gender, words in the singular will include the plural and the plural will include the singular.

1.7.Plan Year.  The Plan Year shall be the calendar year.

1.8.Supplements.  The provisions of the Plan as applied to any Employer, to any group of employees of any Employer may, with the consent of the Company, be modified or supplemented from time to time by the adoption of one or more Supplements.  Each Supplement shall form a part of the Plan as of the Supplement’s effective date.  In the event of any inconsistency between a Supplement and the Plan document, the terms of the Supplement shall govern.

SECTION 2

PARTICIPATION

2.1Eligibility for Participation.  The Compensation Committee of the Board of Directors of the Company (the “Compensation Committee”) shall determine those employees of the Employers who will be eligible to participate in the Plan for a Plan Year; provided, however, that unless otherwise provided by the Compensation Committee, an employee of an Employer with a designation of EICP 1 or higher (other than any such employee who is specifically excluded from participation by the Compensation Committee) shall be eligible to participate in the Plan (each an “Eligible Employee”).  Once an individual has been designated as an Eligible Employee, he shall remain as an Eligible Employee as long as he continues to be employed by the Employers or, if earlier, the first day of the first Plan Year following the date as of which he is no longer designated EICP 1 or higher.

2.2Effective Date of Participation; Reemployment.  Each person who is an Eligible Employee as of the first day of a Plan Year shall become a “Participant” in the Plan as of the first day of the Plan Year.  If a person becomes an Eligible Employee after the first day of a Plan Year, he shall become a “Participant” in the Plan as of the first day on which he is an Eligible Employee.  Once an individual becomes a Participant in the Plan for a Plan Year, he shall remain a Participant for the entire Plan Year (or portion thereof); provided, however, that an individual’s participation in the Plan for a Plan Year shall end as of his Termination Date (as defined in subsection 5.1(a)) except as provided in Section 3.  Notwithstanding the foregoing, if a Participant’s Termination Date occurs during a Plan Year and he is employed or reemployed by an Employer or Related Company prior to the last day of the Plan Year, he shall immediately become a Participant upon his reemployment.

2.3Restricted Participation.  During any period that a Participant continues in the employ of an Employer or a Related Company but is not an Eligible Employee and during any period for which no Employer Deferred Contributions (as defined in subsection 3.2) are made with respect to the Participant, the Participant, or in the event of his death, his beneficiary, will be considered and treated as a Participant for all purposes of the Plan except for purposes of Section 3.

2.4Plan Not Contract of Employment.  The Plan does not constitute a contract of employment or continued service, and nothing in the Plan will give any Participant the right to be retained in the employ of any Employer, nor any right or claim to any benefit under the Plan, except to the extent specifically provided under the terms of the Plan.

SECTION 3

ACCOUNTS AND CONTRIBUTIONS

3.1.Participant Accounts.  The Administrative Committee shall maintain a bookkeeping “Account” in the name of each Participant to reflect such Participant’s interest under the Plan.

3.2.Contributions.

(a)Participant Contributions.  Participants are not required or permitted to make any contributions under the Plan.

(b)Employer Bonus Contributions.  Each Employer shall make contributions to the Plan for each Plan Year (“Employer Bonus Contributions”) on behalf of each of its employees who is a Participant for such Plan 

Year who was paid a bonus (or who would have been paid a bonus but for a deferral election related to such bonus) under the Company’s annual performance bonus plan (currently known as the Tenneco Inc. Annual Incentive Plan) (the “Bonus”) from an Employer for such Plan Year.  The amount of the Employer Bonus Contribution made by an Employer for any Plan Year on behalf of any Participant shall be equal to (i) the Company Retirement Contribution percentage that applies to such Participant for such Plan Year under the Tenneco 401(k) Investment Plan (the “401(k) Plan”) (determined as of the first day of the Plan Year (or the date on which the Participant was first eligible to participate in the 401(k) Plan for such Plan Year, if later), without regard to any changes in such percentage during the Plan Year), multiplied by (ii) the Bonus.  Employer Bonus Contributions shall be credited to the applicable Participants’ Accounts in accordance with subsection 5.1.

(c)Employer Retirement Contributions.  Each Employer shall make contributions to the Plan for each Plan Year (“Employer Retirement Contributions”) on behalf of each of its employees who is a Participant in the Plan for such Plan Year and whose Company Retirement Contributions under the 401(k) Plan for such Plan Year are limited for such Plan Year by the limitations of section 401(a)(17) of the Code.  The amount of Employer Retirement Contributions made by any Employer for any Plan Year on behalf of any Participant shall be equal to (i) the Company Retirement Contribution percentage that applies to such Participant for such Plan Year under the 401(k) Plan (determined as of the first day of the Plan Year (or the date on which the Participant was first eligible to participate in the 401(k) Plan for such Plan Year, if later) without regard to any changes in such percentage during the Plan Year), multiplied by (ii) the Participant’s Compensation (as defined in the 401(k) Plan for purposes of Company Retirement Contributions thereunder, but without regard to the limitations of section 401(a)(17) of the Code) for such Plan Year in excess of the limitations of section 401(a)(17) of the Code for such Plan Year.  Employer Retirement Contributions shall be credited to the applicable Participants’ Accounts in accordance with subsection 5.1.

(d)Employer Matching Contributions.  Each Employer shall make contributions to the Plan for each Plan Year (“Employer Matching Contributions”) on behalf of each of its employees who is a Participant in the Plan for such Plan Year, who has made the maximum permitted salary deferrals to the 401(k) Plan for such Plan Year, who is employed by the Employer on the last day of the Plan Year and whose  Enhanced Company Match Contributions under the 401(k) Plan for such Plan Year are limited for such Plan Year by the limitations of section 401(a)(17) of the Code.  The amount of Employer Matching Contribution made by any Employer for any Plan Year on behalf of any Participant shall be equal to the difference (but not less than zero) between (i) the maximum Enhanced Company Match Contributions that could have been made on behalf of the Participant under the 401(k) Plan for that year had the limitations of section 401(a)(17) of the Code had not applied minus (ii) the maximum Enhanced Company Match Contributions that could have been made on behalf of the Participant under the 401(k) Plan for that year taking into account the limitations of section 401(a)(17) of the Code.  Employer Matching Contributions shall be credited to the applicable Participants’ Accounts in accordance with subsection 5.1.

Employer Bonus Contributions, Employer Retirement Contributions and Employer Matching Contributions are sometimes collectively referred to herein as “Employer Deferred Contributions”.
SECTION 4

TRANSFERRED PARTICIPANTS 
AND TRANSFERRED BENEFITS
Effective as of the Effective Date, the account balances of all Transferred Participants (as defined below) shall be transferred to the DRiV Plan.  The amount of the benefits transferred from the Plan to the DRiV Plan are referred to herein as “Transferred Benefits”.  The amount of the Transferred Benefits shall be determined after all adjustments required under the Plan as of (or prior to) December 31, 2019 are completed.  For purposes of the Plan, “Transferred Participants” means Participants in the Plan as of December 31, 2019 who are in the following categories: 
(a)employees who are employed by the Company or any Related Company immediately prior to the Effective Date (“Active Employees”) in connection with the Company’s Motorparts business;

(b)Active Employees who are employed in connection with the Company’s Ride Performance business;

(c)all participants in the Plan who are not employed by the Company or any Related Company immediately prior to the Effective Date (“Former Employees”) and who are designated by the Company and DRiV as former Ride Performance employees; 

(d)Active Employees who are designated by the Company and DRiV as DRiV Corporate Staff and DRiV Global Services employees; and

(e)Former Employees who are designated by the Company and DRiV as former Clean Air employees. 

Other than the liabilities for Transferred Benefits, all liabilities shall be retained by the Plan.  For the avoidance of doubt, the retained liabilities shall include liabilities for Participants in the following categories:  (1) Active Employees who were employed immediately prior to the Effective Date in connection with the Company’s Clean Air business, (2) Active Employees in the Company’s Powertrain business and Former Employees who are designated by the Company and DRiV as former Powertrain employees, (3) Active Employees who are designated by the Company and DRiV as Company Corporate Staff employees, and (4) Former Employees who are designated by the Company and DRiV as former Motorparts employees. 

SECTION 5 

PLAN ACCOUNTING

5.1Adjustment of Accounts.  Each Participant’s Account shall be adjusted in accordance with this Section 5, in a uniform, nondiscriminatory manner, as of each business day on which the New York Stock Exchange is open for business (each an “Accounting Date”).  As of each Accounting Date, the balance of each Participant’s Account shall be adjusted as follows:
(a)first, charge to the Account balance the amount of any distributions under the Plan with respect to that Account that have not previously been charged;

(b)next, credit to the Account balance the amount of Employer Deferred Contributions made on behalf of the Participant in accordance with Section 3 since the preceding Accounting Date; and

(c)finally, adjust the Account balance for the applicable investment return in accordance with subsection 5.2.

5.2Investment Return.  The following shall apply with respect to amounts credited to a Participant’s Account:

(a)Amounts credited to a Participant’s Account in accordance with subsection 5.1 shall be adjusted as of each Accounting Date to reflect the value of an investment equal to the Participant’s Account balance in one or more assumed investments that the Administrative Committee offers from time to time and communicated to Participants (the “Investment Funds”), and which the Participant directs the Administrative Committee to use for purposes of adjusting his Account.  Such amount shall be determined without regard to taxes that would be payable with respect to any such Investment Fund, but will be adjusted for any investment management or similar fee that is customarily paid with respect to the Investment Fund.

(b)To the extent permitted by the Administrative Committee, the Participant may elect to have different portions of his Account balance for any period adjusted on the basis of different Investment Funds and any election by a Participant with respect to an Investment Fund shall be subject to such rules and regulations established from time to time by the Administrative Committee.

(c)Notwithstanding the election by Participants of certain investments in specified Investment Funds and the adjustment of their Accounts based on such investment elections, the Plan does not require, and no trust or other instrument that may be maintained in connection with the Plan shall require, that any assets or amounts that are set aside in trust or otherwise for the purpose of paying Plan benefits shall actually be invested in the investment alternatives selected by Participants.

(d)Any change in the Participant’s investment direction shall be made in accordance with rules established by the Administrative Committee, shall apply prospectively only and shall be implemented as soon as practicable after the direction is received by the Administrative Committee.

The Administrative Committee may eliminate any Investment Fund at any time; provided, however, that the Administrative Committee may not retroactively eliminate any Investment Fund.
5.3No Actual Investment.  Notwithstanding any other provision of the Plan that may be interpreted to the contrary, the Investment Funds are to be used for measurement purposes only and Participants’ election of any such Investment Fund, the allocation of amounts to Participants’ Accounts, the calculation of any additional amounts and the crediting or debiting of amounts to Participants’ Accounts shall not be considered or construed in any manner as an actual investment of Participants’ Accounts in any investment alternative.  In the event that the Company or any other Employer, in its own discretion, decides to invest funds in any or all of the investment funds that correspond to the Investment Funds under the Plan, no Participant shall have any rights in or to such actual investments themselves.  Without limiting the generality of the foregoing, a Participant’s Account balance shall at all times be a bookkeeping entry only and shall not represent any investment made on his behalf by the Employers and the Participant shall at all times remain an unsecured creditor of the Employers.

5.4Statement of Plan Account.  The Administrative Committee will cause to be delivered to each Plan Participant a statement of the balances of his Account as required by law.

SECTION 6 

PAYMENT OF PLAN BENEFITS

6.1Certain  Definitions.  For purposes of the Plan:

(a)A Participant’s “Termination Date” shall mean the date on which his employment with the Employers and Related Companies terminates for any reason.  Whether a Participant has had a termination of employment shall be interpreted and administered in all respects in accordance with section 409A of the Code and applicable regulations issued thereunder.

(b)A Participant’s Years of Service shall be equal to the number of Vesting Service Years credited to him under the 401(k) Plan for purposes of vesting (and prior to the Effective Date, the Years of Service as determined under the Tenneco 401(k) Retirement Savings Plan); provided, however, that if a Participant is not a participant in the 401(k) Plan, his Years of Service shall be determined in accordance with the foregoing, as if he were a participant in the 401(k) Plan.

6.2Vesting.  A Participant shall become vested in his Employer Deferred Contributions, and income, loses, appreciation and depreciation attributable thereto, when he completes three Years of Service.  If a Participant’s Termination Date occurs prior to the date on which he completes three Years of Service, he shall forfeit the balance in his Account and he shall have no further rights to any portion of such balance.

6.3Time and Form of Payment.  The vested balance of a Participant’s Account shall be distributed in a lump sum cash payment within 30 days following his Termination Date.  Notwithstanding the foregoing or any other provision of the Plan to the contrary, if the Participant is a specified employee (within the meaning of section 409A of the Code) on his Termination Date, the amount credited to his Account under the Plan shall be paid in a lump sum cash payment on the first business day of the seventh month following his Termination Date (or if earlier, the date of his death).

6.4Withholding for Tax Liability.  Any Employer may withhold or cause to be withheld from any Employer Deferred Contributions or any other amounts otherwise due to the Participant or any payment of benefits made pursuant to the Plan any taxes required to be withheld and such sum as the Employer may reasonably estimate to be necessary to cover any taxes for which the Employer may be liable and that may be assessed with regard to such deferrals or payments under the Plan.

6.5Beneficiary Designation.  A Participant may, from time to time, designate in writing any legal or natural person or persons (who may be designated contingently or successively) to whom payments are to be made if the Participant dies before receiving payment of his entire Account balance.  A beneficiary designation form will be effective only after it is filed in writing with the Administrative Committee while the Participant is alive and will cancel all beneficiary designation forms filed earlier.

6.6Payment to Persons Under Legal Disability.  In the event that any amount will be payable under this Plan to a Participant under legal or other disability who, in the opinion of the Administrative Committee, is unable to administer such payments, the payments will be made to the legal conservator of the estate of such Participant or, if no such legal conservator will have been appointed, then to any individual (for the benefit of such Participant) whom the Administrative Committee may from time to time approve.

6.7Benefits May Not Be Assigned or Alienated.  Benefits payable to Participants or beneficiaries under this Plan may not be anticipated, assigned (either at law or in equity), alienated, pledged, encumbered or subject to attachment, garnishment, levy, execution or other legal or equitable process.

6.8Special Section 409A Provisions.  It is intended that the Plan comply with the provisions of section 409A of the Code and all provisions of the Plan shall be construed and interpreted in accordance with the requirements of section 409A of the Code and applicable guidance thereunder.  Notwithstanding any other provision of this Plan to the contrary, if any payment or benefit hereunder is subject to section 409A of the Code, and if such payment or benefit is to be paid or provided on account of the Participant’s termination of employment (or other separation from service), the determination as to whether the Participant has had a termination of employment (or separation from service) shall be made in accordance with the provisions of section 409A of the Code and the guidance issued thereunder without application of any alternative levels of reductions of bona fide services permitted thereunder.

SECTION 7

AMENDMENT AND TERMINATION
The Company reserves the right to amend or terminate the Plan by action of the Compensation Committee, or the committee or person to which it delegates such authority, and each Employer reserves the right to terminate the Plan, as applied to it; provided, however, that no such amendment or termination of the Plan will reduce the amount credited to any Participant as of the date of such amendment or termination. Any termination of the Plan will comply with Section 409A of the Code, and applicable regulations.
IN WITNESS WHEREOF, the undersigned, on behalf of the Company, hereby certifies that the foregoing is a true and correct copy of the Plan as in effect on the date hereof. 

TENNECO INC.

BY: /s/ Jeffrey S. Bowen

ITS: Authorized Executive under the Assignment and Assumption Agreement        

SCHEDULE 1
EMPLOYERS
Tenneco Automotive Operating Company Inc.
Federal-Mogul Piston Rings LLC 
Federal-Mogul Ignition LLC 
Federal-Mogul Powertrain LLC
Federal-Mogul Risk Advisory Services LLC
Federal-Mogul Sevierville LLC
Federal-Mogul Valve Train International LLC
Tenneco Automotive Walker Inc.

SUPPLEMENT A
BONUS BANK AMOUNTS
This Supplement A to the Tenneco Inc. Excess Benefit Plan (the “Plan”) shall apply to any Participant in the Plan who had a balance in his or her Bonus Reserve Account under the Tenneco Inc. Value Added (“TAVA”) Incentive Compensation Plan as of December 31, 2018.  Unless otherwise specified, capitalized terms used in this Supplement shall have the meaning specified in the Plan.
The balance in the Participant’s Bonus Reserve Account shall be paid to the Participant in a lump sum as of March 15, 2024 or, if earlier, upon the Participant’s Termination Date.  Notwithstanding any other provision of the Plan to the contrary, if any payment under this Supplement A is subject to section 409A of the Code, the provisions of subsection 6.8 of the Plan shall apply to the extent applicable.

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