Document:

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                             UCAR INTERNATIONAL INC.
                            MANAGEMENT INCENTIVE PLAN

                  (Amended and Restated as of January 1, 1999)

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                                TABLE OF CONTENTS

         TITLE                                                             PAGE
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SECTION 1:  PURPOSE..........................................................2

SECTION 2:  EFFECTIVE DATE...................................................2

SECTION 3:  DEFINITIONS......................................................2

SECTION 4:  ADMINISTRATION...................................................2

SECTION 5:  AWARDS...........................................................5

SECTION 6:  PAYMENT OF AWARDS................................................6

SECTION 7:  TERMINATION OF EMPLOYMENT........................................2

SECTION 8:  CHANGE OF POSITION DURING A PLAN YEAR............................2

SECTION 9:  BENEFICIARY DESIGNATION..........................................2

SECTION 10:  GENERAL PROVISIONS..............................................2

SECTION 11:  AMENDMENT, SUSPENSION OR TERMINATION............................2

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                             UCAR INTERNATIONAL INC.
                            MANAGEMENT INCENTIVE PLAN

SECTION 1:  PURPOSE

            The purpose of the Plan is to: (a) provide incentives and rewards to
Officers and Eligible Employees of the Corporation; (b) assist the Corporation
in attracting, retaining, and motivating Officers and Eligible Employees of high
caliber and experience; and (c) make the Corporation's compensation program
competitive with those of other major employers.

SECTION 2:  EFFECTIVE DATE

            This Plan constitutes an amendment, restatement and combining of the
UCAR International Inc. Management Incentive Plan and the UCAR International
Inc. Officers Incentive Plan. This amended, restated and combined Plan shall be
effective as of January 1, 1999.

SECTION 3:  DEFINITIONS

            3.1 "Award" shall mean the amount of annual incentive compensation,
authorized by the Board, if necessary, payable to a Participant for a Plan Year.

            3.2 "Beneficiary" shall mean a Participant's deemed beneficiary
pursuant to Section 9.1 hereof.

            3.3 "Board" shall mean the Board of Directors of UCAR International
Inc.

            3.4 "CEO" shall mean the Chief Executive Officer of the Corporation.

            3.5 "Controlled Affiliates" shall mean UCAR International Inc. and
each of its direct or indirect subsidiaries and affiliates.

            3.6 "Corporation" shall mean UCAR International Inc. and its
Controlled Affiliates.

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            3.7 "Department" shall mean the Corporate Human Resources Department
of the Corporation.

            3.8 "Disability" or "Disabled" shall mean a Participant's inability
to engage in any substantial gainful activity because of any medically
determinable physical or mental impairment which can be expected to result in
death or which has lasted, or can be expected to last, for a continuous period
of six (6) months or longer.

            3.9 "Eligible Employee" shall mean any employees in positions in
Grades 13 and above or equivalent, other than Officers.

            3.10 "Officer" shall mean any officer of the Corporation or any
Participant designated as an officer by the CEO for purposes of this Plan.

            3.11 "Participant" shall mean any Eligible Employee authorized by
the CEO to participate in the Plan or any Officer authorized by the Board to
participate in the Plan.

            3.12 "Plan" shall mean this UCAR International Inc.Management
Incentive Plan, as it may be amended from time to time.

            3.13 "Plan Year" shall mean the calendar year.

            3.14 "Retirement" shall mean termination of employment by the
Corporation, or by a Controlled Affiliate participating in the Plan, with the
right under the UCAR Carbon Retirement Plan to receive a non-actuarially reduced
pension immediately upon separation from service. If a Participant does not
participate in the UCAR Carbon Retirement Plan, "Retirement" means termination
of employment after (i) attaining age 65, (ii) attaining age 62 and completing
at least 10 years of employment, or (iii) having accumulated 85 points, where
each year of age and each year of employment count for one point.

            3.15 "Savings Plan" shall mean the UCAR Carbon Savings Plan.

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SECTION 4:  ADMINISTRATION

            4.1 With respect to Eligible Employees, the Plan shall be
administered by the Department which, subject to Section 5.1 hereof, shall have
full power and authority to construe and interpret the Plan, establish and amend
administrative regulations to further the purpose of the Plan, select or
authorize the selection criteria of Eligible Employees, authorize Award levels,
and take any other action necessary to administer the Plan. The Department's
decisions, actions, and interpretations regarding the Plan shall be final and
binding upon all Eligible Employees and Beneficiaries.

            4.2 With respect to Officers, the Plan shall be administered by the
Board, which shall have full power and authority to construe and interpret the
Plan, establish and amend administrative regulations to further the purpose of
the Plan, select or authorize the selection of Officers, authorize Awards, and
take any other action necessary to administer the Plan. The Board's decisions,
actions, and interpretations regarding the Plan shall be final and binding upon
all Officers and Beneficiaries.

            4.3 The Department shall: (i) formulate and recommend to the Board
such changes in the Plan as may facilitate the administration of the Plan; (ii)
maintain summary records of Awards; (iii) prepare reports and data required by
the Corporation and government agencies; (iv) obtain necessary consents and
approvals by government agencies; (v) obtain any data requested by the Board;
and (vi) take such other actions requested by the Board as are necessary for the
effective implementation of the Plan.

SECTION 5:  AWARDS

            5.1 The Board shall determine the aggregate amount to be awarded for
each Plan Year. That determination shall be based upon an evaluation of the
performance of the Corporation during the Plan Year and such other factors as
the Board shall determine.

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            5.2 The Department shall, subject to the approval of the CEO,
determine the amount of the Award granted to each Eligible Employee. The
Department shall consider the extent to which an Eligible Employee achieves,
during a Plan Year, specific measures of performance established from time to
time during the Plan Year. The Department shall provide a report to the Board of
the actual Awards to Eligible Employees made under the Plan each year.

            5.3 The Board shall determine the amount of the Award granted to
each Officer. The Board shall consider the extent to which an Officer achieves,
during a Plan Year, specific measures of performance established from time to
time during the Plan Year.

SECTION 6:  PAYMENT OF AWARDS

            6.1 The Board shall authorize Awards for a Plan Year at such time
after the end of such Plan Year as the Board in its discretion may determine.
The Board, in its discretion, may authorize the payment of Awards in cash,
stock, or a combination thereof.

            6.2 The Board reserves the right to defer payment of some or all
Awards, in whole or in part, upon such terms and conditions as the Board in its
discretion may determine. The Board's decision regarding the deferral of an
Award shall be final and binding on all Participants and Beneficiaries.

SECTION 7:  TERMINATION OF EMPLOYMENT

            7.1 If a Participant's employment with the Corporation is terminated
during a Plan Year, by the Corporation without cause, or because of the death,
Disability or Retirement of the Participant, then the Award to such Participant
shall equal the amount which would have been granted to such Participant under
the Plan had such Participant's employment with the Corporation not been
terminated multiplied by a fraction the numerator of which is the number of
months during such Plan Year that such Participant was employed by the
Corporation and the denominator of which is 12.

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            7.2 If a Participant's employment with the Corporation is terminated
during a Plan Year, by the Corporation for cause, or for any reason other than
death, Disability or Retirement, then such Participant shall not be entitled to
an Award for such Plan Year. However, the CEO may, however, in his or her
discretion, determine that it is in the best interests of the Corporation to
authorize an Award to such a Participant. If the CEO shall so authorize an
Award, then such Award shall be determined pursuant to the guidelines set forth
in section 7.1. In addition, the Board may, in its discretion, determine that it
is in the best interests of the Corporation to authorize an Award to an Officer.
If the Board shall so authorize an Award, then such Award shall be determined
pursuant to the guidelines set forth in section 7.1.

            7.3 A Participant whose employment with the Corporation is
terminated for any reason shall be deemed to have terminated employment with the
Corporation on the last day of the month in which the termination occurs.

SECTION 8:  CHANGE OF POSITION DURING A PLAN YEAR

            8.1 If a Participant is reassigned to a different position within
the Plan during a Plan Year, the total Award will be determined proportionally
based on the relative performance and time in each position.

SECTION 9:  BENEFICIARY DESIGNATION

            9.1 The beneficiary or beneficiaries designated by the Participant
or deemed to have been designated by the Participant under the Savings Plan
shall be deemed to be the Participant's Beneficiary and a deceased Participant's
unpaid Award shall be paid to the Beneficiary. If a Participant does not
participate in the Savings Plan or if a Participant does participate in the
Savings Plan and has not designated or been deemed to have designated a
beneficiary thereunder, then a deceased Participant's unpaid Award shall be
distributed to the Participant's estate. If a Beneficiary does not survive the

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Participant, then a deceased Participant's unpaid Award shall be distributed to
the Participant's estate. If the Beneficiary of a deceased Participant survives
the Participant, and dies before such Participant's Award is distributed, then
such unpaid Award shall be distributed to the Beneficiary's estate.

SECTION 10: GENERAL PROVISIONS

            10.1 An Eligible Employee may not assign an Award without the
Department's prior written consent. Likewise, an Officer may not assign an Award
without the Board's prior written consent. Any attempted assignment without such
consent shall be null and void. For purposes of this paragraph, any designation
of, or payment to, a Beneficiary shall not be deemed an assignment.

            10.2 The Plan is intended to constitute an unfunded incentive
compensation arrangement for a select group of key personnel. Nothing contained
in the Plan, and no action taken pursuant to the Plan, shall create or be
construed to create a trust of any kind. A Participant's right to receive an
Award shall be no greater than the right of an unsecured general creditor of the
Corporation. All Awards shall be paid from the general funds of the Corporation,
and no special or separate fund shall be established and no segregation of
assets shall be made to assure payment of such Awards.

            10.3 Nothing contained in the Plan shall give any Participant the
right to continue in the employment of the Corporation, or affect the right of
the Corporation to discharge a Participant.

            10.4 The Plan shall be construed and governed in accordance with the
laws of the State of DELAWARE.

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SECTION 11: AMENDMENT, SUSPENSION OR TERMINATION

            11.1 The Board reserves the right to amend, suspend, or terminate
the Plan at any time; provided, however, that any amendment, suspension or
termination shall not adversely affect the rights of Participants or
Beneficiaries to receive Awards granted prior to such action.

                                          UCAR INTERNATIONAL INC.

Dated:  ___________  ___, 1999            By:_____________________________<PAGE>
                                   UCAR CARBON

                            EQUALIZATION BENEFIT PLAN

                  (Amended and Restated as of October 1, 1998)

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                            EQUALIZATION BENEFIT PLAN

                                     GENERAL

            This is an excess benefit plan for participants in the Retirement
Plan who receive a benefit from the Retirement Plan which is limited by Code
Section 415. This Plan has been established primarily for the purpose of
providing deferred compensation for a select group of management or highly
compensated employees.

            Specifically, the purpose of this Plan is to provide a retirement
benefit, equal to the excess of :

            (1) the retirement benefit which would be provided by the
            Retirement Plan determined without regard to Code Section 415,

            OVER

            (2) the retirement benefit actually provided by the Retirement
            Plan.

            This Plan is completely separate from the Retirement Plan, the
Enhanced Retirement Income Plan and the Supplemental Retirement Income Plan, is
unfunded for purposes of Title I of the Employee Retirement Income Security Act
of 1974, as amended and is not qualified for special tax treatment under the
Code.

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                                    ARTICLE I

                                   ELIGIBILITY

            SECTION 1. A Participant, or survivor of a Participant who has not
declined the coverage of a survivor's benefit under the Retirement Plan shall be
eligible to participate in this Plan if such Participant receives a retirement
benefit from the Retirement Plan which is limited by Code Section 415.

                                   ARTICLE II

                                 ADMINISTRATION

            SECTION 1. (a) The Compensation Committee shall have the authority
to administer this Plan. The Compensation Committee may adopt such rules as it
may deem necessary for the proper administration of this Plan and its decision
in all matters involving the interpretation and application of the Plan shall be
final, conclusive, and binding on all parties.

            (b) The Compensation Committee may, in its sole discretion,
designate any persons(s) or committee to administer this Plan. To the extent
provided by the Compensation Committee, such person(s) or committee designated
to administer this Plan shall have the same powers and responsibilities as the
Compensation Committee.

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                                   ARTICLE III

                                AMOUNT OF BENEFIT

            SECTION 1.  (a)  The monthly amount of Equalization Retirement
Income payable to a Participant shall be the excess, if any, of:

                  (i) the Participant's monthly retirement benefit, computed by
                  using the applicable benefit formula provided in Article V of
                  the Retirement Plan and determined without regard to the
                  limitations of Code Sections 415,

                  OVER

                  (ii) the monthly amount of such Participant's or surviving
                  spouse's retirement benefit payable under the Retirement Plan.

            (b) Any benefits either payable under, or which have been satisfied
through, the purchase of non-qualified annuities in connection with this Plan
shall be deducted from the amounts payable pursuant to subparagraph (a) above.

            SECTION 2. For purposes of calculating the amount of a Participant's
Equalization Retirement Income pursuant to Section 1 of this Article III, the
amount of a Participant's monthly retirement benefit under the Retirement Plan
shall be determined without any adjustment on account of (i) a survivor's
benefit or (ii) an election to receive level retirement income.

            SECTION 3. If a Participant does not decline the coverage of a
survivor's benefit, the monthly amount of Equalization Retirement Income which
such Participant would otherwise have received shall be reduced by applying the
same factors used in the Retirement Plan in connection with calculating a
survivor's benefit.

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            SECTION 4. The monthly amount of Equalization Retirement Income
payable to the survivor of a Participant shall be calculated in the same manner
that such survivor's benefit is calculated under the Retirement Plan.

                                   ARTICLE IV

                                     VESTING

            SECTION 1. A Participant shall be vested in such Participant's right
to receive Equalization Retirement Income under this Plan in the same manner and
to the same extent as provided under the Retirement Plan .

                                    ARTICLE V

                                    PAYMENTS

            SECTION 1. A Participant or such Participant's survivor shall
commence receiving Equalization Retirement Income at such time as the
Participant or survivor commences benefits under the Retirement Plan. Unless a
Participant or survivor elects otherwise, the normal form of payment of a
Participant's Equalization Retirement Income is as follows:

                  (a) in the calendar year in which the Participant or survivor
is eligible to commence benefits, the Participant or survivor shall begin to
receive monthly payments.

                  (b) in or about January of the calendar year following such
Participant's or survivor's eligibility to commence benefits, the Participant or
survivor shall receive a lump sum payment, representing the remaining amount of
the Participant's or survivor's Equalization Retirement Income.

                  (c) Notwithstanding the foregoing, a Participant or survivor
may elect during the calendar year in which the Participant or survivor

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commences benefits to forgo the lump sum payment payable in the following year
and may elect to continue receiving monthly payments. Alternatively, a
Participant or survivor may elect in the calendar year preceding the
Participant's or survivor's commencement of benefits to forgo receiving monthly
payments, in which case the Participant or survivor shall receive a lump sum in
the calendar year in which the Participant or survivor is eligible to commence
benefits.

                  (d) Upon a Participant's death, the Participant's survivor may
cancel any existing election and may make a new one, provided (i) an election to
receive a lump sum payment is made by December 31 prior to the calendar year in
which such lump sum payment is to be made and (ii) an election to revoke the
right to receive a lump sum payment is made by December 31 prior to the calendar
year in which such lump sum was to be paid.

            SECTION 2. Unless otherwise elected, Equalization Retirement Income
payable in monthly payments under this Plan shall include the coverage of a
survivor's benefit. A survivor's benefit payable from this Plan shall be paid to
that person designated to receive a survivor's benefit under the Retirement
Plan. Equalization Retirement Income shall in no event be payable after the
death of a Participant who has declined the coverage of a survivor's benefit.

            SECTION 3. Notwithstanding the provisions of Section 1 of this
Article V, a Participant or survivor may elect at any time immediately preceding
commencement of benefits to receive substantially equal installments over a
period of at least 2 but not more than 10 years commencing as of the January 1
of the calendar year following such election. If a Participant elects a series
of payments over a period from 2 to 10 years, this election is irrevocable. This
election shall be the same as that made pursuant to the Supplemental Retirement
Income Plan and the Enhanced Retirement Income Plan.

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            If a Participant elects a monthly annuity as in the Retirement Plan,
he or she may again elect a series of payments over a period of from 2 to 10
years when the calculation of the lump sum benefit changes. The calculation of
the benefit may change: (i) because of profit sharing or awards paid in the year
following the last year worked or (ii) because the interest rate used to
calculate the lump sum is not available until the November after the monthly
annuity benefit is recalculated.

            The lump sum payment or installment payments described above shall
be calculated using (A) a discount rate for the month of October of the calendar
year preceding the payment of the lump sum or installments equal to the average
of the Moody's Municipal 10 year Aaa Bond Yield Averages and the Moody's
Municipal Long Term Aaa Bond Yield Averages, and (B) the UP-94G Mortality Table.
The Compensation Committee or its designee shall determine the procedures for
such elections and the time and method of payment for payments in accordance
with this Section 3. For Participants who make the election described in this
Section 3, the provisions of Sections 1 and 2 of this Article V shall not apply.

            SECTION 4. Notwithstanding anything in this Plan to the contrary,
the Board of Directors may determine that a Participant or survivor shall not be
eligible to receive a lump sum payment.

            SECTION 5. If the Board of Directors determines, after a hearing,
that a Participant who is eligible to receive or is receiving Equalization
Retirement Income has engaged in any activities which, in the opinion of the
Board, are detrimental to the interests of, or are in competition with the
Corporation or any of its subsidiaries, such Equalization Retirement Income
shall thereupon be terminated.

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                                   ARTICLE VI

                                  MISCELLANEOUS

            SECTION 1. Unless otherwise defined in this Plan, all defined terms
shall have the same meaning as set forth in the Retirement Plan.

                  (a) "Code" means the Internal Revenue Code of 1986, as
amended.

                  (b) "Compensation Committee" means the Organization and
Compensation Committee of the Board of Directors of the Corporation.

                  (c) "Corporation" means UCAR Carbon Company Inc.

                  (d) "Enhanced Retirement Income Plan" means the UCAR Carbon
Enhanced Retirement Income Plan.

                  (e) "Equalization Retirement Income" means the benefit payable
to a Participant pursuant to Article III of this Plan.

                  (f) "Participant" means an employee of the Corporation who is
eligible to participate in the Plan pursuant to Article I.

                  (g) "Plan" means this UCAR Carbon Equalization Benefit Plan,
as amended and restated as of October 1, 1998.

                  (h) "Retirement Plan" as used in this Plan means the UCAR
Carbon Retirement Plan.

                  (i)  "Supplemental Retirement Income Plan" means the UCAR
Carbon Supplemental Retirement Income Plan.

            SECTION 2. The Corporation may amend or terminate this Plan at any
time, but any such amendment or termination shall not adversely affect the

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rights of any Participant or survivor of any Participant then receiving benefits
under this Plan, or the vested rights of any Participant or survivor.

            SECTION 3. Except to the extent required by law, no assignment of
the rights and interests of a Participant or survivor of a Participant under
this Plan shall be permitted nor shall such rights be subject to attachment or
other legal processes for debts.

            SECTION 4. This Plan is intended to be unfunded for purposes of
Title I of the Employee Retirement Income Security Act of 1974, as amended and
the rights of a Participant and survivor of a Participant shall be no greater
than the right of an unsecured general creditor of the Corporation.

            SECTION 5. The Corporation may satisfy all or any part of its
obligation to provide benefits under this Plan by purchasing, and distributing
to a Participant or survivor of a Participant, an annuity from an insurance
carrier to provide such benefits.

            SECTION 6. Neither selection as a Participant nor participation in
this Plan shall affect the Corporation's right to discharge any Participant.

                                          UCAR CARBON COMPANY INC.

                                          By:______________________________

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