Document:

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                                                                    Exhibit 10.9

                            THE LUBRIZOL CORPORATION

                  2005 Deferred Compensation Plan For Directors
                                  (As Amended)

1. Purpose. The purpose of this 2005 Deferred Compensation Plan For Directors
(the "Plan") is to continue to permit any member of the Board of Directors (the
"Participant") of The Lubrizol Corporation (the "Company"), to defer all or a
portion of the compensation earned as a director in calendar years beginning on
or after January 1, 2005, until after the Participant separates from service as
a director, all as provided in the Plan.

2. Administration. The Plan shall be administered by the Organization and
Compensation Committee of the Board of Directors of the Company (the
"Committee"). The Committee's interpretation and construction of all provisions
of this Plan shall be binding and conclusive. In the event that a Participant is
a member of the Committee, such Participant shall not participate in any
decision of the Committee relating to that Participant's participation in this
Plan.

3. Right to Defer Compensation.

     (a) Any director of the Company may, at any time prior to January 1 of a
given calendar year, elect to defer under this Plan all, or such portion as the
director may designate, of (i) that director's annual retainer fee, (ii) the
attendance fees for attending directors' meetings or committees thereof and/or
(iii) stock compensation under The Lubrizol Corporation 2005 Stock Incentive
Plan. All compensation deferred shall be deferred on the day that such
compensation would otherwise have been paid to the director.

     (b) The election described in paragraph (a) shall be made by written notice
delivered to the Vice President, Human Resources, of the Company specifying (i)
the portion of designated compensation to be deferred for such year, (ii) time
of distribution, and (iii) if applicable, the payment option.

     (c) The election under this Section 3 shall take effect on the first day of
the calendar year following the year in which the election is made. A new
election must be made for each calendar year.

     (d) Notwithstanding paragraphs (a), (b) and (c), where a director first
becomes eligible to participate in the Plan, the newly eligible director may
make the election under this Section 3 to defer the specified compensation for
services to be performed subsequent to the election and for the remainder of the
calendar year in which the election under this Section 3 is made provided such
election is made within 30 days after the date the director first becomes
eligible.

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4. Deferral of Cash Compensation.

     (a) On the date the cash compensation deferred under the Plan would have
become payable to the Participant in the absence of an election under the Plan
to defer payment thereof, the amount of such deferred compensation shall be
credited to a Stock Deferral Account and/or any of the Cash Deferral Account
investment portfolios designated as available by the Committee from time to
time. All Deferral Accounts shall be established and maintained for each
Participant in the Company's accounting books and records and the Company shall
be under no obligation to purchase any investments designated by the
Participant.

     (b) Participant's Cash Deferral Accounts shall be credited with any gains
or losses equal to those generated as if the Participant's Cash Deferral Account
balances had been invested in the applicable investment portfolio(s) selected by
the Participant

     (c) A Participant's deferred cash compensation credited to a Participant's
Stock Deferral Account shall be used to determine the number of full and
fractional units ("Units") representing Company Common Shares ("Shares") which
the deferred amount would purchase at the closing price for the Shares on the
New York Stock Exchange ("NYSE") composite transactions reporting system on the
date that the deferred amount is credited pursuant to paragraph (a) and if
Shares were not traded on that date on the NYSE, then such computation shall be
made as of the first preceding day on which Shares were so traded. The Company
shall credit the Participant's Stock Deferral Account with the number of full
and fractional Units so determined. A Participant's Stock Deferral Account shall
be administered in accordance with Section 5(b) through (e).

     (d) A Participant may elect pursuant to rules established by the Committee
to transfer a portion or all of the balance of any Deferral Account established
under this Section 4 to any other such Deferral Account.

5. Deferral of Stock Compensation.

     (a) At the time that Shares are distributable to a Participant, who has
elected to defer the receipt thereof under Section 3, in lieu of Shares being
issued, there shall be credited to a separate Stock Deferral Account for the
Participant, full stock equivalent units ("Units") which shall be established
and maintained on the Company's records. One Unit shall be allocated to the
Stock Deferral Account for each such Share. The balance of a Stock Deferral
Account established under this Section 5(a) pursuant to deferrals under Section
3 may not be transferred to any other Deferral Account.

     (b) As of each dividend payment date established by the Company for the
payment of cash dividends with respect to its Shares, the Company shall credit
each separate Stock Deferral Account of a Participant with an additional number
of whole and/or fractional Units equal to:

          (i)  the product of (x) the dividend per Share which is payable with
               respect to such dividend payment date, multiplied by (y) the
               number of whole and fractional Units credited to the separate
               Stock Deferral Account of a Participant as of such payment date;

                                   divided by

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          (ii) The closing price of a Share on the dividend payment date (or if
               Shares were not traded on that date, on the next preceding day on
               which Shares were so traded), as reported on the NYSE-composite
               tape.

     (c) At no time prior to actual delivery of Shares pursuant to the Plan,
shall the Company be obligated to purchase or reserve Shares for delivery of a
Participant and the Participant shall not be a shareholder nor have any of the
rights of a shareholder with respect to the Units credited to the Participant's
Stock Deferral Accounts.

     (d) In the event of any change in the number of outstanding Shares by
reason of any stock dividend, stock split up, recapitalization, merger,
consolidation, exchange of shares or other similar corporate change, the number
of Units in each separate Stock Deferral Account of a Participant shall be
appropriately adjusted to take into account any such event.

6. Payment of Deferred Compensation.

     (a) In the event a Participant separates from service prior to commencing
to receive schedule withdrawal payments of the Participant's Deferral Accounts,
such scheduled withdrawal payments, if any, that have not commenced pursuant to
Section 7, and the amount selected by Participant to be paid upon a separation
from service, shall be to the Participant in: (i) a single lump sum; (ii)
periodic installments over such period, not exceeding twenty (20) years; or
(iii) a lump sum followed by periodic installments over such period, not
exceeding twenty (20) years, as the Participant shall have selected pursuant to
Section 3(b). Such periodic payments shall begin or the lump sum payment shall
be made, as the case may be, from the Participant's Deferral Accounts, at such
time, not less than six (6) nor more than twelve (12) months after the
Participant's separation from service, as the Participant shall have selected
pursuant to Section 3(b); provided, however, that if Participant has not
selected a payment option with respect to payment upon a separation from
service, such amounts shall be paid in a lump sum six (6) months after
Participant's separation from service. Notwithstanding the foregoing, a
Participant may elect not less than twelve (12) months prior to the
Participant's separation from service, to change the time or form of
distribution of the Participant's Deferral Accounts upon a separation from
service; provided, however that any such change shall be invalid if the effect
of such change is to accelerate distribution; provided, further that upon any
such change, the distribution shall occur five (5) years after the date
originally selected pursuant to Section 3(b).

     (b) The amount of each installment payable to a Participant from the
Participant's Cash Deferral Accounts shall be determined by dividing the
aggregate balance of such Participant's Cash Deferral Accounts by the number of
periodic installments (including the current installment) remaining to be paid.
Until a Participant's Cash Deferral Accounts has been completely distributed,
the balance thereof remaining, from time to time, shall be credited with gains
and losses on a monthly basis as provided in Section 4(b).

     (c) The amount of any installment payable to a Participant from the
Participant's Stock Deferral Accounts shall be determined by dividing the
balance of the aggregate number of Units in the Participant's Stock Deferral
Accounts by the number of periodic installments (including the current
installment) remaining to be paid and the

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quotient shall be the number of Shares that are payable. If the determination of
the installment payable from the Participant's Stock Deferral Accounts results
in a fractional Share being payable, the installment payment shall exclude any
such fractional Share payment except that, in the final installment payment, any
such fractional Share shall be paid in cash in an amount as determined by the
Committee. Until the Participant's Stock Deferral Accounts have been completely
distributed, the balance in the Stock Deferral Accounts shall continue to be
credited with the dividend equivalents on such balances as provided in Section
5(b).

     (d) In the event a Participant dies prior to receiving payment of the
entire amount of the Participant's Deferral Accounts, the unpaid balance shall
be paid to such beneficiary as the Participant may have designated in writing to
the Vice President, Human Resources, of the Company as the beneficiary to
receive any such post-death distribution under the Plan or, in the absence of
such written designation, to the Participant's legal representative or to the
beneficiary designated in the Participant's last will as the one to receive such
distributions. Distributions subsequent to the death of a Participant may be
made in: (i) a single lump sum; (ii) periodic installments over such period, not
exceeding twenty (20) years; or (iii) a lump sum followed by periodic
installments over such period, not exceeding twenty (20) years as elected by the
Participant pursuant to Section 3(b) and the amount of each installment shall be
computed as provided in Section 6(b), and (d) as the case may be; provided,
however, that if Participant has not selected a payment option with respect to
payment upon death, such amounts shall be paid to Participant's beneficiary in a
lump sum upon the death of the Participant. Notwithstanding the foregoing, a
Participant may elect not less than twelve (12) months prior to the
Participant's death, to change the time or form of distribution of the
Participant's Deferral Accounts; provided, however that any such change shall be
invalid if the effect of such change is to accelerate distribution; provided,
further that upon any such change, the distribution shall occur five (5) years
after the date originally selected pursuant to Section 3(b).

     (e) Payments from the Cash Deferral Accounts shall be made in cash and
payments from the Stock Deferral Accounts shall be made in Shares. The amount of
any distribution pursuant to Sections 6 through 8 shall reduce the balance held
in the Participant's corresponding Deferral Accounts as of the date of such
distribution. Installment payments shall be made pro-rata from a Participant's
Deferral Accounts.

7. Scheduled Withdrawal Accounts. Pursuant to Section 3, a Participant may elect
to receive part or all of the Participant's deferrals in accordance with
Participant's elections for up to three scheduled withdrawal accounts and with
respect to Participant's Stock Deferral Accounts pursuant to Section 3(a)(iii),
each of which shall commence as elected by the Participant pursuant to Section
3(b) in: (i) a single; (ii) periodic installments over such period, not
exceeding twenty (20) years; or (iii) a lump sum followed by periodic
installments over such period, not exceeding twenty (20) years and the amount of
each installment shall be computed as provided in Section 6(b), and (c) as the
case may be. Notwithstanding the foregoing, a Participant may elect not less
than twelve (12) months prior to the Participant's date of the scheduled
withdrawal, to change the time or form of distribution of the Participant's
Deferral Accounts, provided, however that any such change shall be invalid if
the effect of such change is to accelerate distribution; provided, further that
upon any such change, the distribution shall occur five (5) years after the date
originally selected pursuant to Section 3(b).

8. Unforeseen Emergency. The Committee may accelerate the distribution of part
or all of one or more of a Participant's Deferral Accounts for reasons of an
unforeseeable

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emergency that cannot be met using other resources. For purposes of the Plan, an
unforeseeable emergency shall be deemed to exist in the event the Committee
determines that a Participant needs a distribution to meet a severe hardship to
the Participant resulting from a sudden or unexpected illness or accident of the
Participant or a member of the Participant's family, loss of the Participant's
property due to casualty, or other similar extraordinary and unforeseeable
circumstance arising as a result of events beyond the control of the
Participant. A distribution based on financial hardship shall not exceed the
amount required to meet the immediate financial need created by the hardship.

9. Non-assignability. None of the rights or interests in any of the
Participant's Deferral Accounts shall, at any time prior to actual payment or
distribution pursuant to the Plan, be assignable or transferable in whole or in
part, either voluntarily or by operation of law or otherwise, and such rights
and interest shall not be subject to payment of debts by execution, levy,
garnishment, attachment, pledge, bankruptcy or in any other manner.

10. Interest of Participant. The Company shall be under no obligation to
segregate or reserve any funds or other assets for purposes relating to the Plan
and, except as set forth in this Plan, no Participant shall have any rights
whatsoever in or with respect to any funds or other assets held by the Company
for purposes of the Plan or otherwise. Each Participant's accounts maintained
for purposes of the Plan merely constitute bookkeeping entries on records of the
Company, constitute the unsecured promise and obligation of the Company to make
payments as provided herein, and shall not constitute any allocation whatsoever
of any cash, shares or other assets of the Company or be deemed to create any
trust or special deposit with respect to any of the Company's assets.
Notwithstanding the foregoing provisions, nothing in this Plan shall preclude
the Company from setting aside Shares or funds in trust pursuant to one or more
trust agreements between a trustee and the Company. However, no Participant
shall have any secured interest or claim in any assets or property of the
Company or any such trust and all Shares or funds contained in such trust shall
remain subject to the claims of the Company's general creditors.

11. Amendment. The Board of Directors of the Company, or the Organization and
Compensation Committee may, from time to time, amend or terminate the Plan,
provided that no such amendment or termination of the Plan shall adversely
affect a Participant's accounts as they existed immediately before such
amendment or termination or the manner of distribution thereof, unless such
Participant shall have consented thereto in writing. Notice of any amendment or
termination of the Plan shall be given promptly to all Participants.

12. Plan Implementation. This Plan is adopted and effective for deferrals of
compensation earned for calendar years beginning on or after January 1, 2005.

1105lmre

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                                                                   Exhibit 10.10

                            THE LUBRIZOL CORPORATION
                            ANNUAL INCENTIVE PAY PLAN
                (Amended and Restated Effective January 1, 2005)

                                  INTRODUCTION

     The Lubrizol Corporation (hereinafter referred to as the "Corporation")
hereby establishes, effective as of January 1, 2005, The Lubrizol Corporation
Annual Incentive Pay Plan (hereinafter referred to as the "Plan") in order to
provide an award for employees which reflects the pursuit of superior
performance, increased customer satisfaction and enhancement of shareholder
value. Awards for participating employees under the Plan shall depend upon
corporate performance measures as determined by the Committee for the Plan Year.

     Except as otherwise provided, the Plan shall be administered by the
Organization and Compensation Committee (hereinafter referred to as the
"Committee") of the Board of Directors of the Corporation. The Committee shall
have conclusive authority to construe and interpret the Plan and any agreements
entered into under the Plan and to establish, amend, and rescind rules and
regulations for its administration. The Committee shall also have any additional
authority as the Board may from time to time determine to be necessary or
desirable.

                                    ARTICLE I
                                   DEFINITIONS

     1.01 Definitions. The following terms shall have the indicated meanings for
purposes of the Plan:

     (a)  "Board" shall mean the Board of Directors of the Corporation.

     (b)  "Chief Executive Officer" shall mean the chief executive officer of
          the Corporation.

     (c)  "Committee" shall mean the Organization and Compensation Committee of
          the Board, or other designated committee of the Board, consisting of
          persons who are not Employees or Foreign Employees.

     (d)  "Corporation" shall mean The Lubrizol Corporation, a corporation
          organized under the laws of the State of Ohio.

     (e)  "Director" shall mean a member of the Board.

     (f)  '"Employee" shall mean any person other than an Officer, who is
          employed for a wage or salary by the Corporation or a domestic
          Subsidiary.

     (g)  "Foreign Employee" shall mean any person who is employed for a wage or
          salary by an international Subsidiary of the Corporation.

     (h)  "Foreign Participant" shall mean any Foreign Employee who has been
          selected by the Committee pursuant to Article VI of the Plan, and who
          has not for any reason becomes ineligible to participate in the Plan.

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     (i)  "Individual Award" shall mean the amount paid (or to be paid) to a
          Participant or Foreign Participant, as the case may be, by the
          Corporation pursuant to the Plan.

     (j)  "Individual Performance Shares" shall have the definition, and shall
          be determined, as set forth in Section 3.02 herein.

     (k)  "Officer shall mean an employee of the Corporation or a Subsidiary who
          is a member of the Executive Council of the Corporation.

     (l)  "Participant" shall mean all Officers, and any Employee who has been
          selected by the Committee pursuant to Article II herein to participate
          in the Plan, and have not for any reason become ineligible to
          participate in the Plan.

     (m)  "Pay" shall be determined at the time of calculating the Individual
          Performance Shares and shall be the Participant's base pay.

     (n)  "Plan" shall mean The Lubrizol Corporation Annual Incentive Pay Plan,
          effective January 1, 2005.

     (o)  "Plan Year" shall mean each twelve-month period commencing January 1
          and ending December 31.

     (p)  "Subsidiary" shall mean any corporation, foreign or domestic, that is
          wholly or partially (but not less than 50%) owned directly or
          indirectly by the Corporation.

     1.02 Construction. Where necessary or appropriate to the meaning of a word,
the singular shall be deemed to include the plural, the plural to include the
singular, the masculine to include the feminine, and the feminine to include the
masculine.

                                   ARTICLE II
                          ELIGIBILITY AND PARTICIPATION

     2.01 Eligibility. All Employees and Officers shall be eligible to
participate in the Plan.

     2.02 Participation. All Officers shall participate in the Plan. In
addition, the Committee shall determine which Employees shall participate in the
Plan for each Plan Year. The Committee may also determine which Employees hired
during the Plan Year shall participate in the Plan for such Plan Year. The
Committee's selection of Participants shall be after considering recommendations
presented to it by the Chief Executive Officer.

                                   ARTICLE III
                          INDIVIDUAL PERFORMANCE SHARES

     3.01 In General. At the time the Committee selects Participants for any
Plan Year, the Committee shall, after consideration of the recommendations of
the Chief Executive Officer, establish, for each Plan Year, Individual
Performance Shares for each Participant.

     3.02 Calculation of Individual Performance Shares. Individual Performance
Shares shall be calculated in the following manner:

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     (a)  The Pay of each Participant shall be multiplied by a designated
          percentage which shall take into account the Participant's position in
          the Corporation. Such designated percentage shall be determined by the
          Committee.

     (b)  The product for each Participant, determined pursuant to the
          calculation in paragraph (a) above, shall be divided by the sum of all
          such amounts produced for all Participants calculated in accordance
          with paragraph (a) above.

     (c)  The quotient determined for each Participant, calculated pursuant to
          paragraph (b) above, shall be multiplied by 100 and rounded, up or
          down, to the nearer whole number to produce the number of each
          Participant's Individual Performance Shares.

     Individual Performance Shares may be either increased or decreased, at any
time, or from time to time, during a Plan Year, for any Participant at the sole
discretion of the Committee in order to reflect any change in the individual
contribution under the formula set forth in this Section 3.02.

                                   ARTICLE IV
                              DETERMINATION OF FUND

     4.01 Fund. A fund shall be accrued on a monthly basis during each Plan
Year, based upon a fixed percentage of the Corporation's monthly consolidated
net income during such Plan Year (the "Fund"), as established by the Committee,
which percentage may be increased or decreased at any time, and from time to
time, prior to the end of the Plan Year at the discretion of the Committee. The
Fund shall consist of bookkeeping accruals on the books of the Corporation and
no cash or other property shall be set aside by the Corporation for these
purposes.

     4.02 Post-Plan Year Fund Adjustment. At the beginning of each Plan Year,
corporate initiatives for the Plan Year will be categorized into corporate
performance measures and shall be presented to the Committee by the Chief
Executive Officer. In February following the Plan Year, the Chief Executive
Officer shall evaluate the outcome of the performance measures for the Plan Year
just concluded and shall present his evaluation to the Committee which the
Committee may, at its discretion, increase or decrease the amount of the Fund.

                                    ARTICLE V
                                INDIVIDUAL AWARDS

     5.01 Allocation. Each Participant's Individual Award for a Plan Year shall
be calculated in January following the close of the Plan Year and shall be an
amount determined as follows:

     (a)  Divide the total Fund, as finally approved by the Committee, by the
          total Individual Performance Shares of all Participants;

     (b)  For each Participant, multiply the amount determined in paragraph (a)
          by such Participant's Individual Performance Shares; and

     (c)  The product determined in paragraph (b) shall be the tentative amount
          of the Participant's Individual Award which may be increased or
          decreased in the sole discretion of the Committee.

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     The Committee may also in its sole and unrestricted discretion determine
Individual Awards for Participants who were hired during the Plan Year. No
Participant shall have any vested interest in, or be entitled to, any Individual
Award unless and until payment is authorized by the Committee.

     5.02 Time and Method of Payment of Individual Awards. In the event the
Committee determines that a Participant is entitled to an Individual Award, the
Corporation shall pay such Individual Award to that Participant by the 15th of
the third month following the close of the Plan Year. A Participant, who leaves
the Corporation's employ after the Plan Year but prior to the payment of an
Individual Award, except in the case of retirement under the provisions of a
qualified defined benefit plan maintained by the Corporation, disability or
death, will not be eligible to receive any payment under this Plan. However, an
Individual Award may be made to such a Participant in those instances where
recommendation for such a payment has been made by the Chief Executive Officer
and approved by the Committee.

     In the event a Participant dies after the Plan Year but prior to the
payment of any Individual Award with respect to the Plan Year, any Individual
Award determined to be payable by the Committee shall be paid by the Corporation
to the Participant's estate.

     5.03 Conditions. Anything contained herein to the contrary notwithstanding,
the payment of Individual Awards to Participants with respect to any Plan Year
is conditioned upon the availability of adequate corporate profits for the
Corporation's fiscal year coinciding with any Plan Year. The determination of
whether adequate corporate profits exist shall be made by the Board in its sole
and unrestricted judgment and discretion and such determination shall be
conclusive and binding.

                                   ARTICLE VI
                          AWARDS FOR FOREIGN EMPLOYEES

     6.01 Participation. The Committee shall determine which Foreign Employees
shall participate in the Plan for each Plan Year. The Committee's selection of
Foreign Participants shall be made after considering recommendations presented
to it by the Chief Executive Officer.

     6.02 Individual Awards. At the time the Individual Awards are determined
for Participants, the Committee shall, in its discretion, after consideration of
the recommendations of the Chief Executive Officer, establish for each Plan Year
Individual Awards for each Foreign Participant.

     6.03 Payment of Awards. Individual Awards to each Foreign Participant shall
be paid by the international Subsidiary that is the employer of such Foreign
Participant at the same time as payment is made to Participants under Section
5.02. All payments shall be converted from the U.S. dollar measurement under the
Plan to the currency of the country of such Subsidiary at the currency exchange
rate in effect at the time the Individual Award is determined. All applicable
withholding taxes shall be withheld from the distribution and remitted by the
international subsidiary to the appropriate taxing authority.

     6.04 Conditions.

     (a)  A Foreign Employee who leaves the international Subsidiary's employ
          after the end of the Plan Year but prior to the payment of an
          Individual Award, except in the case of retirement in accordance with
          the customary practice of such

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          Subsidiary, disability or death, will not be eligible to receive any
          payment under this Plan. However, an Individual Award may be made to
          such a Foreign Participant in those instances where recommendation for
          such a payment has been made by the Chief Executive Officer and
          approved by the Committee.

     (b)  In the event a Foreign Participant dies after the Plan year but prior
          to the payment of any Individual Award with respect to the Plan Year,
          any Individual Award determined by the Committee to be payable, shall
          be paid by the international Subsidiary to the Foreign Participant's
          estate or in accordance with local laws.

                                   ARTICLE VII
                                CHANGE OF CONTROL

     7.01 Effect of Change in Control. In the event a Change in Control of the
Corporation (as defined in Section 7.02) occurs prior to final determination by
the Committee of the amounts of Individual Awards to be paid under the Plan with
respect to any Plan Year, the Committee shall calculate such Individual Awards
as soon as practicable after such Change in Control. The Fund from which
Individual Awards are to be made shall be based upon accruals by the Corporation
up to the time of such Change in Control and Individual Awards shall be
calculated in accordance with Sections 5.01 and 6.02 herein. Payment of such
Individual Awards shall be made within thirty (30) days of the date on which the
determination is made to compute the payments according to the terms of this
Section 7.01.

     7.02 For all purposes of the Plan, a "Change in Control of the Corporation"
shall have occurred if any of the following events shall occur:

     (a)  Any one person, or more than one person acting as a group, acquires
          ownership of the securities of the Corporation that, together with the
          securities held by such person or group, constitutes more than 50
          percent of the total fair market value or total voting power of the
          securities of the Corporation;

     (b)  Any person, or more than one person acting as a group, acquires (or
          has acquired during the 12-month period ending on the date of the most
          recent acquisition by such person) assets from the Corporation that
          have a total gross fair market value equal to or more than 40 percent
          of the total gross fair market value of all the asserts of the
          Corporation immediately prior to such acquisition or acquisitions;

     (c)  Any person (as the term "person" is used in Section 13(d)(3) or
          Section 14(d)(2) of the Exchange Act) acquires (or has acquired during
          the 12-month period ending on the date of the most recent acquisition
          by such person) ownership of securities representing 35% or more of
          the combined voting power of the then-outstanding securities entitled
          to vote generally in the election of directors of the Corporation
          ("Voting Stock"); or

     (e)  If during any period of 12-month period, individuals who, at the
          beginning of any such period constitute the Directors of the
          Corporation, cease for any reason to constitute at least a majority
          thereof, unless the election, or the nomination for election by the
          Corporation's stockholders, of each Director of the Corporation first
          elected during such period was approved by a vote of a majority of the

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          Directors of the Corporation then still in office who were Directors
          of the Corporation at the beginning of any such period.

     Notwithstanding the foregoing, a Change of Control shall have only occurred
in accordance with the regulations promulgated under Section 409A of the
Internal Revenue Code of 1986, as amended.

                                  ARTICLE VIII
                                 ADMINISTRATION

     8.01 Plan Administrator. The Committee shall be the Plan administrator.

     8.02 Duties of Plan Administrator.

     (a)  The Committee shall administer the Plan in accordance with its terms
          and shall have all powers necessary to carry out the provisions of the
          Plan including, but not limited to, the following:

          (1)  Determination of Employees and Foreign Employees who are eligible
               for Plan participation;

          (2)  Determination of the amount of the Fund to be distributed to
               Participants and Foreign Participants for each Plan Year; and

          (3)  Determination of each Officer's actual Individual Award.

     (b)  The Committee shall interpret the Plan and shall resolve all questions
          arising in the administration, interpretation, and application of the
          Plan. Any such determination of the Committee shall be conclusive and
          binding on all persons.

     (c)  The Committee shall establish such procedures and keep such records or
          other data as the Committee in its discretion determines necessary or
          proper for the administration of the Plan.

     (d)  The Committee may delegate administrative responsibilities to such
          person or persons as the Committee deems necessary or desirable in
          connection with the administration of the Plan.

                                   ARTICLE IX
                                  MISCELLANEOUS

     9.01 Unfunded Plan. The Corporation shall be under no obligation to
segregate or reserve any funds or other assets for purposes relating to this
Plan and no Participant or Foreign Participant shall have any rights whatsoever
in or with respect to any funds or assets of the Corporation.

     9.02 Non-Alienation. Since a Participant or Foreign Participant does not
have any rights to any Individual Award under the Plan until the time that
payment of such Individual Award is made, no anticipated payment of any
Individual Award shall be subject in any manner to alienation, sale, transfer,
assignment, pledge, attachment, garnishment or encumbrance of any kind. If a
Participant or Foreign Participant attempts to alienate, sell, transfer, assign,
pledge or otherwise encumber any such anticipated Individual Award, or if he has
filed or will be filing for bankruptcy, the Committee in its discretion may
cause such amounts as would

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otherwise become payable to such Participant or Foreign Participant at such time
or times to be paid to or applied for the benefit of such one or more of the
following as the Committee in its sole and unrestricted judgment and discretion
may designate: the Participant or Foreign Participant, his spouse, child or
children, or other dependents.

     9.03 Unclaimed Payments. Should the whereabouts of any Participant or
Foreign Participant entitled to receive any Individual Award be unknown to the
Corporation, and unascertainable after reasonable inquiry by the Corporation,
for a period of two years from the date of scheduled payment of the Individual
Award, the right of such person to receive payments hereunder shall be
terminated, and the amounts which would otherwise have been payable to such
person shall be forfeited.

     9.04 Actions or Decisions with Respect to the Plan. Any decision or action
of the Corporation, the Board, or the Committee, arising out of or in connection
with the administration and operation of this Plan, may be made or taken in
their sole and unrestricted judgment and discretion, and such decision or action
shall be conclusive and binding upon all Participants and Foreign Participants.

     9.05 No Employment Rights. Nothing herein contained shall be construed as a
commitment or agreement upon the part of any Participant, Foreign Participant,
Employee or Foreign Employee hereunder to continue his employment with the
Corporation or a Subsidiary, and nothing herein contained shall be construed as
a commitment on the part of the Corporation or any Subsidiary to continue the
employment or rate of compensation of any Participant or Foreign Participant
hereunder or any Employee or Foreign Employee for any period.

     9.06 Amendment of the Plan. The Corporation reserves the right, to be
exercised by instruction from the Committee, to modify or amend this Plan at any
time.

     9.07 Duration and Termination of the Plan. The Corporation also reserves
the right, to be exercised by action of the Board, to discontinue or terminate
the Plan; provided that, and subject to all the provisions of this plan, any
termination shall be effective only for all Plan Years following December 31 of
the Plan Year in which the decision to terminate occurs.

1205lmre

                                        7

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