Document:

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                                                                      Ex 10 (ix)

                        AMERICAN STANDARD COMPANIES INC.

                EXECUTIVE SUPPLEMENTAL RETIREMENT BENEFIT PROGRAM

                   Restated to include all amendments through
                                   May 4, 2000

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                                    ARTICLE I

                                   DEFINITIONS

For all purposes of the Program the following definitions shall apply, with
words in the masculine gender including, where appropriate, the feminine gender:

     Actuarial Equivalent means, with respect to any monthly payments referred
     to in Article IV, the lump sum payment which is the present value as of the
     date of commencement of such monthly payments, determined using the
     following actuarial assumptions:

     (a)  Mortality Table -- 1983 Basic Group Annuity Mortality Table for males
          projected to 1988 with Scale H; and

     (b)  Interest -- the lesser of

          (1)  120% of the annual interest rate used by the Pension Benefit
               Guaranty Corporation to value immediate annuities for plans
               terminating as of the date as of which the applicant's monthly
               pension payments would otherwise commence; and

          (2)  the average yield of long-term U.S. Treasury bonds issued during
               the one month period ending one month before the date as of which
               the applicant's monthly pension payments would otherwise
               commence, as published in the Federal Reserve Bulletin under the
               heading "Composite Index: Over 10 Years (long-term)," such
               average yield to be rounded to the nearest .25%;

          provided that, for purposes of calculating a lump sum payment to a
          Prior Participant or his Surviving Spouse the interest rate applied to
          calculate that portion of such lump sum attributable to such Prior
          Participant's Special Years of Service shall be multiplied by sixty
          and four-tenths percent (60.4%).

     Average Monthly Earnings of a Participating Employee means his total
     Compensation for the three (3) calendar Years of Service (or such lesser
     number of calendar years as may constitute his Years of Service) in his
     last ten (10) calendar Years of Service (including in such ten (10)
     calendar years the year in which his Service is broken), during which his
     total Compensation was the highest, divided by thirty-six (36) (or such
     lesser number as may constitute the number of calendar months of his Years
     of Service).

     Board means the Board of Directors of the Corporation.

     Code means the Internal Revenue Code of 1986, as amended.

     Committee means the Committee constituted under Article III, Section 2
     hereof.

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     Compensation means, for any calendar year, the total remuneration (other
     than remuneration that is not treated as "Compensation" under and for
     purposes of the Retirement Plan) for Service rendered by a Participating
     Employee during such year, including any annual incentive compensation
     awarded to him with respect to such year, without regard to the year in
     which such incentive compensation is received; provided that Compensation
     shall not include any payments under the American Standard Inc. Management
     Partners' Bonus Plan or Long-Term Incentive Compensation Plan.

     Corporation means American Standard Companies Inc. and its successors and
     any predecessor corporation merged with or into, or any business acquired
     by, American Standard Companies Inc.

     Employee means an employee of the Corporation or a Subsidiary Company.

     ESOP Offset means two (2) times the value, as of the date when a
     Participating Employee's Service is broken, of the Basic Company
     Contributions to his account under the American-Standard Employee Stock
     Ownership Plan.

     Other Post-Retirement Benefits means, with respect to a Participating
     Employee, his ESOP Offset, plus all amounts paid or payable to him or his
     Surviving Spouse under or with respect to the Retirement Plan (including
     any monthly pension payable hereunder because it exceeds the maximum
     limitation on pension amounts imposed by Section 415 of the Code), the
     American Standard Profit Sharing Plan and any other non-governmental
     defined benefit or defined contribution employee pension plan (except the
     Savings and Stock Ownership Plan of American Standard Inc. and
     Participating Subsidiary Companies and the American Standard Employee Stock
     Ownership Plan) to which the Corporation, any Subsidiary Company or any
     previous employer of such Participating Employee had made contributions,
     provided that in calculating such amounts the following shall apply:

     (a)  Any Other Post-Retirement Benefit which is offset under the terms of
          the Retirement Plan shall be offset under this Program;

     (b)  Such amounts shall include lump sum and installment distributions
          which, together with all Other Post Retirement Benefits, shall be
          expressed as an Actuarially Equivalent lifetime annuity payable
          monthly.

     (c)  Such amounts shall exclude benefits to the extent attributable to
          contributions made by such Participating Employee; and

     (d)  Such amounts shall reflect reductions for early commencement of
          benefits, if any.

     Participating Employee means any Employee (including, unless the context
     otherwise requires, an Employee who is a Prior Participant) who has been
     and so long as he remains

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     an officer of the Corporation elected as such by the Board, but such term
     shall not include the Chairman of the Board on January 1, 1991.

     Primary Social Security Benefit shall have the meaning ascribed to that
     term in and by the Retirement Plan. In the event that the Participating
     Employee provides the Committee with the actual amount of his Social
     Security Benefit plus the amounts, if any, payable to such Employee under a
     foreign social insurance or pension system (which is comparable in nature
     to the U.S. Social Security System) then the total of such amounts if less
     than the U.S. Primary Social Security Benefit as defined in the Retirement
     Plan shall be deemed the Participating Employee's Primary Social Security
     Benefit for the purposes of this Program.

     Program means the Amended and Restated Executive Supplemental Retirement
     Benefit Program of American Standard Companies Inc., as set forth in this
     document and as amended from time to time.

     Retirement Plan means the Retirement Plan of American Standard Inc. and
     Participating Subsidiary Companies, as in effect immediately before the
     amendments thereto made as of June 30, 1988.

     Service and Years of Service shall have the meanings ascribed to those
     terms in and by the Retirement Plan.

     Subsidiary Company means any corporation organized and existing under the
     laws of a state, district or territory of the United States at least fifty
     percent (50%) of whose outstanding voting stock is owned, directly or
     indirectly, by the Corporation or another Subsidiary Company.

     Surviving Spouse means the person to whom a Participating Employee or
     former Participating Employee was legally married on the earlier of the
     date of his retirement or death.

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                                   ARTICLE II

                                     PURPOSE

The purpose of the Program is to further the achievement of corporate goals of
the Corporation by providing improved retirement income as a component of
executive compensation, by providing retirement income not subject to the limits
imposed on retirement plans qualified under Section 401(a) of the Code, and by
assisting in recruiting and retaining senior executives.

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                                   ARTICLE III

                     AMENDMENT, CONTINUATION, ADMINISTRATION

Section 1 -- Amendment and Continuation

The Board shall have the right to suspend or terminate the Program at any time
and, at any time or from time to time, to amend its terms; provided, however,
that no such action shall effect a forfeiture or a reduction in the amount of
any benefit under the Program that

     (a)  an Employee who had been a Participating Employee for at least twelve
          (12) months prior to the month in which such action is authorized or

     (b)  the Surviving Spouse of such an Employee

would otherwise have been entitled to receive if such Employee had died on, or
retired as of the first of the month coinciding with or following, the effective
date of such action or, if later, the date of its authorization. Notwithstanding
any such suspension, termination or amendment, the Corporation and Subsidiary
Companies will at all times be free to establish other programs, similar or
different, for the benefit of any Employees.

Section 2 -- Administration

The Program shall be administered by a committee of the Board (the "Committee")
which is appointed by the Board. No member of such Committee shall be eligible
to participate in the Program. The Committee shall interpret the Program,
establish administrative policies, guidelines and rules and designate
Participating Employees thereunder, and take any other action necessary or
desirable for the proper operation of the Program. All such interpretations,
policies, guidelines, rules, designations and actions shall be final and binding
upon the Corporation, all Subsidiary Companies, all Employees and all
Participating Employees.

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<PAGE>   7

                                   ARTICLE IV

                     ELIGIBILITY FOR AND AMOUNT OF BENEFITS

Section 1 -- Upon Retirement at or After Age Sixty-five

Any Participating Employee who, after completing at least five (5) Years of
Service, ceases to be an Employee on or after his sixty-fifth (65th) birthday
shall receive from the Corporation, no later than the thirtieth (30th) day of
the month coincident with or immediately succeeding his sixty-fifth (65th)
birthday (or the month in which he ceases to be an Employee, if later), a single
lump sum payment which shall be the Actuarial Equivalent of a monthly payment,
commencing with such month and continuing for his lifetime, in an amount equal
to the sum of (i) the excess of

     (a)  four percent (4%) of his Average Monthly Earnings, multiplied by the
          number, not in excess of ten (10), of his Years of Service, plus

     (b)  one percent (1%) of his Average Monthly Earnings, multiplied by the
          number of his Years of Service accumulated after his first ten (10)
          Years of Service (to a maximum of twenty percent (20%) of such Average
          Monthly Earnings),

over the sum of

     (c)  such Participating Employee's Other Post-Retirement Benefits, plus

     (d)  his Primary Social Security Benefit;

and (ii) the monthly pension, if any, which is not payable to him from the
Retirement Plan because of the maximum limitations on pension amounts imposed by
Section 415 of the Code.

Section 2 -- Upon Employment Termination Before Age Sixty-five

Any Participating Employee who ceases to be an Employee after completing at
least five (5) Years of Service, but before his sixty-fifth (65th) birthday
shall receive from the Corporation, no later than the thirtieth (30th) day of
the month designated in writing by such Participating Employee to the Committee
(which month shall not be earlier than the month immediately following his
fifty-fifth (55th) birthday), a single lump sum payment which shall be the
Actuarial Equivalent of a monthly payment, commencing with the month so
designated by such Participating Employee and continuing for his lifetime, in an
amount equal to the product of the amounts determined in clauses (a), (b) and
(c) below, with such result reduced by the amount in clauses (d) and (e) below
and increased by the amount in clause (f) below.

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     (a)  The monthly payment that such Participating Employee would have
          received computed under the below (i) and (ii), if he had remained an
          Employee (with no change in his Average Monthly Earnings) until, and
          if he had retired on, his sixty-fifth (65th) birthday:

          (i)  four percent (4%) of his Average Monthly Earnings, multiplied by
               the number, not in excess of ten (10), of his Years of Service,
               plus

          (ii) one percent (1%) of his Average Monthly Earnings, multiplied by
               the number of his Years of Service accumulated after his first
               ten (10) Years of Service (to a maximum of twenty percent (20%)
               of such Average Monthly Earnings);

     (b)  A fraction

          (i)  the numerator of which is the number of his Years of Service, and

          (ii) the denominator of which is the number of Years of Service he
               would have accumulated if he had remained an Employee until his
               sixty-fifth (65th) birthday;

     (c)  The percentage determined according to attained age (in years and
          completed months) on date of commencement of monthly payments, in
          accordance with the following table with values for non-integral ages
          to be determined by interpolation:

<TABLE>
<CAPTION>
          Attained Age on Date of
               Commencement                                           Percentage
          ----------------------                                      ----------
<S>                                                                      <C>
               64                                                        .97
               63                                                        .93
               62                                                        .88
               61                                                        .82
               60                                                        .75
               59                                                        .68
               58                                                        .61
               57                                                        .54
               56                                                        .47
               55 or younger                                             .40
</TABLE>

     (d)  Such Participating Employee's Other Post-Retirement Benefits;

     (e)  Such Participating Employee's Primary Social Security Benefit,
          multiplied by clauses (b) and (c) above, or the Participating
          Employee's actual Social Security Benefit (or other comparable
          benefits), if so provided by the Participating Employee;

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     (f)  Such Participating Employee's monthly pension, if any, reduced (if
          applicable) for early commencement, which is not payable to him from
          the Retirement Plan because of the maximum limitations on pension
          amounts imposed by Section 415 of the Code.

Section 3 -- Upon Death Before Retirement

If a Participating Employee is married, and has accumulated at least five (5)
Years of Service when he ceases to be an Employee due to his death, his
Surviving Spouse shall receive from the Corporation, no later than the thirtieth
(30th) day of the month immediately succeeding the month of his death, a single
lump sum payment which shall be the Actuarial Equivalent of a monthly payment,
commencing with such succeeding month and continuing for the lifetime of such
Surviving Spouse, in an amount equal to the product of the amounts determined in
the below clauses (a), (b), (c) and (d), with such result reduced by the amounts
in the below clauses (e) and (f).

     (a)  The monthly payment that the Participating Employee would have
          received computed under the below (i) and (ii), if he had remained an
          Employee (with no change in his Average Monthly Earnings) until, and
          if he had retired on, his sixty-fifth (65th) birthday:

          (i)  four percent (4%) of his Average Monthly Earnings, multiplied by
               the number, not in excess of ten (10), of his Years of Service,
               plus

          (ii) one percent (1%) of his Average Monthly Earnings, multiplied by
               the number of his Years of Service accumulated after his first
               ten (10) Years of Service (to a maximum of 20% of such Average
               Monthly Earnings),

     (b)  A fraction

          (i)  the numerator of which is the number of his Years of Service, and

          (ii) the denominator of which is the number of Years of Service he
               would have accumulated if he had remained an Employee until his
               sixty-fifth (65th) birthday,

     (c)  Fifty percent (50%), minus one percent (1%) for each full year by
          which the age of the Surviving Spouse is more than five (5) years
          lower than that of the Participating Employee,

     (d)  The percentage specified in clause (c) of Section 2 for the
          Participating Employee's age at the time of his death,

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<PAGE>   10

     (e)  The Participating Employee's Other Post-Retirement Benefits,

     (f)  The Participating Employee's Primary Social Security Benefit,
          multiplied by clauses (b), (c), and (d) above.

Section 4 -- Upon Death After Termination of Employment

If a Participating Employee described in Section 2 of this Article IV is married
when he dies after the termination of his employment but before his receipt of
the lump sum payment to which he is entitled under said Section, his Surviving
Spouse shall receive from the Corporation, no later than the thirtieth (30th)
day of the month immediately following the month of his death, a single lump sum
payment which shall be the Actuarial Equivalent of the single lump sum payment
that such Participating Employee would have received if the month that he
designated for purposes of said Section 2 had been the later of the month of his
death and the month of his fifty-fifth (55th) birthday and if he had survived
through such month, reduced by fifty percent (50%), minus one percent (1%) for
each year by which the age of the Surviving Spouse is more than five (5) years
lower than that of the Participating Employee.

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                                    ARTICLE V

                           FORFEITURES AND LIMITATIONS

Section 1 -- Forfeiture of Benefits

If the Committee determines that any Participating Employee (or any recipient of
a benefit under the Program who had been a Participating Employee) has, while or
at any time after he ceased to be an Employee, directly or indirectly engaged in
any occupation in competition with, or has wrongfully disclosed trade secrets of
or confidential information relating to, or has intentionally done any act
materially harmful to the interests of, the Corporation or any Subsidiary
Company, the Committee may in its sole discretion terminate or annul the payment
of such benefit.

Section 2 -- Inalienability of Benefits

No sale, transfer, anticipation, assignment, pledge or encumbrance of any kind,
at law or in equity, of any benefit under this Program shall be permitted or
recognized under any circumstances, and no benefit under this Program shall be
subject to attachment or other legal process.

Section 3 -- Other Limitations

No benefit payable under the Program shall give rise to any offset or shall be
included in any reduction pursuant to Article III or any other provision of the
Retirement Plan or have any similar effect on any other benefit payable under
any other private benefit plan to which the Corporation or any Subsidiary
Company shall have contributed. Otherwise, the Committee may from time to time
determine whether the total benefits payable to any individual under the Program
and all other private benefit plans to which the Corporation or any Subsidiary
Company shall have contributed shall be subject to any limitation as to amount
other than as provided elsewhere in the Program and/or in such other private
plans, and, if so, shall determine the amount of such limitation.

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<PAGE>   12

Section 4 -- Minimum Benefit

For any Participating Employee, the portion of his benefit payable under Section
1 or 2 of Article IV which is attributable to his Years of Service and Average
Monthly Earnings through December 31, 1993 shall not be less than a minimum,
which shall be deemed fixed as of December 31, 1993 and shall be calculated on
the basis of (x) a Primary Social Security Benefit determined for a retirement
occurring December 31, 1993, but increased by five percent (5%) per annum for
each whole calendar year between December 31, 1993 and the actual date of
retirement and (y) an ESOP offset determined as of December 31, 1993 and
increased by twenty percent (20%) per annum for each whole calendar year between
December 31, 1993 and the actual date of retirement. This provision shall not
apply, however, to calculation of the Actuarial Equivalent of the portion of a
Participating Employee's benefit under Section 1 or 2 of Article VI attributable
to Years of Service and Average Monthly Earnings through December 31, 1993.

                                       12<PAGE>   1

                                                                     Ex 10 (xii)

                        AMERICAN STANDARD COMPANIES INC.
                        CORPORATE OFFICER SEVERANCE PLAN
                   (As Amended and Restated as of May 4, 2000)

Section I.     Purpose.

     The purpose of the Plan is to provide elected officers of the Company with
severance benefits should their employment with the Company terminate under the
circumstances described below. The Plan supersedes any and all previous
severance pay practices or policies of the Company, whether written or
unwritten.

Section II.    Definitions.

     A.   Agreement and Release - means an agreement prepared by the Company
under which a Participant, in return for the benefits provided under the Plan,
agrees to release the Company and its affiliates from any and all claims which
such Participant may have against the Company at the time the agreement is
executed, and further agrees to certain other undertakings, including
cooperation with the Company in any matter which may give rise to legal claims
against the Company, a one year non-competition obligation, keeping confidential
proprietary information of the company as well as the terms of the Agreement and
Release, settlement of any disputes concerning the Agreement and Release through
binding arbitration, and such other undertakings as the Company may require from
time to time.

     B.   Board - means the Board of Directors of the Company.

     C.   Cause - means a Participant's (i) willful and continued failure
substantially to perform his or her duties with the Company or any Subsidiary
(other than any such failure resulting from incapacity due to reasonably
documented physical or mental illness), after a demand for substantial
performance is delivered to such Participant by the Chairman of the Board or
officer of equivalent authority which specifically identifies the manner in
which it is believed that such Participant has not substantially performed his
or her duties, or (ii) the willful engaging by such Participant in illegal
misconduct materially and demonstrably injurious to the Company or any
Subsidiary or to the trustworthiness or effectiveness of the Participant in the
performance of his or her duties. For purposes hereof, no act, or failure to
act, on such

                                      -1-
<PAGE>   2

Participant's part shall be considered "willful" unless done, or omitted to be
done, by him or her not in good faith and without reasonable belief that his or
her action or omission was in the best interest of the Company or a Subsidiary.
Any act, or failure to act, based upon authority given pursuant to a resolution
duly adopted by the Board or based upon the advice of counsel for the Company
shall be conclusively presumed to be done, or omitted to be done, by such
Participant in good faith and in the best interest of the Company or such
Subsidiary.

     D.   Change of Control - means the occurrence of any of the following
events:

          (i)  any person is or becomes the Beneficial Owner, directly or
               indirectly, of securities of the Company representing 15% or more
               of the combined voting power of the Company's then-outstanding
               securities (a "15% Beneficial Owner"); provided, however, that
               (a) the term "15% Beneficial Owner" shall not include any
               Beneficial Owner who has crossed such 15% threshold solely as a
               result of an acquisition of securities directly from the Company,
               or solely as a result of an acquisition by the Company of Company
               securities, until such time thereafter as such person acquires
               additional voting securities other than directly from the Company
               and, after giving effect to such acquisition, such person would
               constitute a 15% Beneficial Owner; and (b) with respect to any
               person eligible to file a Schedule 13G pursuant to Rule
               13d-1(b)(1) under the Act with respect to Company securities (an
               "Institutional Investor"), there shall be excluded from the
               number of securities deemed to be beneficially owned by such
               person a number of securities representing not more than 10% of
               the combined voting power of the Company's then-outstanding
               securities;

          (ii) during any period of two consecutive years beginning after
               December 1, 1996, individuals who at the beginning of such period
               constitute the Board together with those individuals who first
               become directors during such period (other than by reason of an
               agreement with the Company or the Board in settlement of a proxy
               contest for the election of directors) and whose election or
               nomination for election to the Board was approved by a vote of at
               least two-thirds of the directors then still in office who either
               were directors at the beginning of the period or whose election
               or nomination for election was previously so approved (the
               "Continuing Directors"), cease for any reason to constitute a
               majority of the Board;

                                      -2-
<PAGE>   3

         (iii) the shareholders of the Company approve a merger, consolidation,
               recapitalization or reorganization of the Company, or a reverse
               stock split of any class of voting securities of the Company, or
               the consummation of any such transaction if shareholder approval
               is not obtained, other than such transaction which would result
               in at least 75% of the total voting power represented by the
               voting securities of the Company or the surviving entity
               outstanding immediately after such transaction being beneficially
               owned by persons who together owned at least 75% of the combined
               voting power of the voting securities of the Company outstanding
               immediately prior to such transaction, with the relative voting
               power of each such continuing holder compared to the voting power
               of each other continuing holder not substantially altered as a
               result of the transaction; provided that, for purposes of this
               paragraph (iii), (a) such continuity of ownership (and
               preservation of relative voting power) shall be deemed to be
               satisfied if the failure to meet such 75% threshold (or to
               preserve such relative voting power) is due solely to the
               acquisition of voting securities by an employee benefit plan of
               the Company or of such surviving entity or of any subsidiary of
               the Company or such surviving entity and (b) voting securities
               beneficially owned by such persons who receive them other than as
               holders of voting securities of the Company outstanding
               immediately prior to such transaction shall not be taken into
               account for purposes of determining whether such 75% threshold
               (or such relative voting power) is satisfied;

          (iv) the shareholders of the Company approve a plan of complete
               liquidation or dissolution of the Company or an agreement for the
               sale or disposition of all or substantially all the assets of the
               Company unless following the completion of such liquidation or
               dissolution, or such sale or disposition, the 75% threshold (and
               relative voting power) requirements set forth in sub-paragraph
               (iii) above are satisfied; or

          (v)  any other event which the Plan Administrator determines shall
               constitute a Change of Control for purposes of this Plan;

     provided, however, that a Change of Control shall not be deemed to have
     occurred if one of the following exceptions applies:

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<PAGE>   4

          (1)  Unless a majority of the Continuing Directors and of the Plan
               Administrator determines that the exception set forth in this
               paragraph (1) shall not apply, none of the foregoing conditions
               would have been satisfied but for one or more of the following
               persons acquiring or otherwise becoming the Beneficial Owner of
               securities of the Company: (A) any person who has entered into a
               binding agreement with the Company, which agreement has been
               approved by two-thirds of the Continuing Directors, limiting the
               acquisition of additional voting securities by such person, the
               solicitation of proxies by such person or proposals by such
               person concerning a business combination with the Company (a
               "Standstill Agreement"); (B) any employee benefit plan, or
               trustee or other fiduciary thereof, maintained by the Company or
               any Subsidiary; (C) any Subsidiary; or (D) the Company.

          (2)  Unless a majority of the Continuing Directors and of the Plan
               Administrator determines that the exception set forth in this
               paragraph (2) shall not apply, none of the foregoing conditions
               would have been satisfied but for the acquisition by or of the
               Company of or by another entity (whether by the merger or
               consolidation, the acquisition of stock or assets, or otherwise)
               in exchange, in whole or in part, for securities of the Company,
               provided that, immediately following such acquisition, the
               Continuing Directors constitute a majority of the Board, or a
               majority of the board of directors of any other surviving entity,
               and, in either case, no agreement, arrangement or understanding
               exists at that time which would cause such Continuing Directors
               to cease thereafter to constitute a majority of the Board or of
               such other board of directors.

          Notwithstanding the foregoing, unless otherwise determined by a
     majority of the Continuing Directors, no Change of Control shall be deemed
     to have occurred with respect to a particular Participant if the Change of
     Control results from actions or events in which such Participant is
     involved in a capacity other than solely as an officer, employee or
     director of the Company.

          For purposes of the foregoing definition of Change of Control, the
     term "Beneficial Owner," with respect to any securities, shall mean any
     person who, directly

                                      -4-
<PAGE>   5

     or indirectly, has or shares the right to vote or dispose of such
     securities or otherwise has "beneficial ownership" of such securities
     (within the meaning of Rule 13d-3 and Rule 13d-5 (as such Rules are in
     effect on December 1, 1996) under the Act), including pursuant to any
     agreement, arrangement or understanding (whether or not in writing);
     provided, however, that (i) a person shall not be deemed the Beneficial
     Owner of any security as a result of any agreement, arrangement or
     understanding to vote such security (A) arising solely from a revocable
     proxy or consent solicited pursuant to, and in accordance with, the
     applicable provisions of the Act and the rules and regulations thereunder
     or (B) made in connection with, or otherwise to participate in, a proxy or
     consent solicitation made, or to be made, pursuant to, and in accordance
     with, the applicable provisions of the Act and the rules and regulations
     thereunder, in either case described in clause (A) or clause (B) above
     whether or not such agreement, arrangement or understanding is also then
     reportable by such person on Schedule 13D under the Act (or any comparable
     or successor report), and (ii) a person engaged in business as an
     underwriter of securities shall not be deemed to be the Beneficial Owner of
     any securities acquired through such person's participation in good faith
     in a firm commitment underwriting until the expiration of forty days after
     the date of such acquisition.

     E.   Company - means American Standard Companies Inc., a Delaware
corporation, and any successor thereto.

     F.   Disability - means a Participant's inability, due to reasonably
documented physical or mental illness, for more than six months to perform his
or her duties with the Company or a Subsidiary on a full time basis if, within
30 days after written notice of termination has been given to such Participant,
he or she shall not have returned to the full time performance of his or her
duties.

     G.   Effective Date - means April 27, 1991.

     H.   Good Reason - means any of the following:

          (i)  an adverse change in a Participant's status or position(s) as an
               executive of the Company, any adverse change in a Participant's
               status or position as an executive of the Company as a result of
               a material diminution in his or her duties or responsibilities or
               a relocation of a Participant's principal place of employment to
               a

                                      -5-
<PAGE>   6

               location which is at least 50 miles further from such
               Participant's principal residence than his or her current
               location or the assignment to him or her of any duties or
               responsibilities which are inconsistent with such status or
               position(s), or any removal of such Participant from or any
               failure to reappoint or reelect him or her to such position(s)
               (except in connection with the termination of his or her
               employment for Cause, Disability or retirement or as a result of
               his or her death or by him or her other than for Good Reason);

          (ii) a reduction by the Company in such Participant's base salary;

         (iii) the taking of any action by the Company or a Subsidiary
               (including the elimination of a plan without providing
               substitutes therefor or the reduction of his or her awards
               thereunder) that would substantially diminish the aggregate
               projected value of such Participant's awards under the Company's
               or such Subsidiary's bonus and benefit plans in which he or she
               was participating at the time of the taking of such action;

          (iv) the taking of any action by the Company or such Subsidiary that
               would substantially diminish the aggregate value of the benefits
               provided such Participant under the Company's or such
               Subsidiary's medical, health, accident, disability, life
               insurance, thrift and retirement plans in which he or she was
               participating at the time of the taking of such action; or

          (v)  any purported termination by the Company of such Participant's
               employment that is not effected for Cause, provided that this
               shall not include termination of employment at age sixty-five
               pursuant to the Company's mandatory retirement policy for
               Corporate Officers.

               Notwithstanding the foregoing, a termination for Good Reason
               shall not have occurred (a) if the Participant consented in
               writing to the event giving rise to the "Good Reason", (b) if the
               Participant voluntarily terminates his or her employment more
               than ninety (90) days after the occurrence of the event
               constituting Good Reason, or (c) with regard to the occurrence of
               the events described in paragraphs 4(ii), (iii) and (iv) above
               prior to a Change of Control, if such reductions or actions are
               proportionate to the reductions or actions applicable to other
               employees in similar positions pursuant to a cost savings plan.

          I.   Participant - means each elected officer of the Company.

                                      -6-
<PAGE>   7

     J.   Plan - means the American Standard Companies Inc. Corporate Officer
Severance Plan.

     K.   Plan Administrator - means the Management Development and Nominating
Committee of the Board (the "MDC") or any committee or individual designated by
the MDC to perform some or all of its administrative functions hereunder.

     L.   Subsidiary - means any corporation or partnership in which the Company
owns, directly or indirectly, 50% or more of the total combined voting power of
all classes of stock of such corporation or of the capital interest or profits
interest of such partnership.

Section III.   Eligibility.

     A Participant shall be eligible to receive the benefits provided under the
Plan in the event that:

     (i)  such Participant voluntarily terminates his or her employment for Good
          Reason or suffers an involuntary termination by the Company other than
          a termination for Cause, provided that in either case such termination
          shall not include a termination upon attainment of age sixty-five
          pursuant to the Company's mandatory retirement policy for Corporate
          Officers; and

     (II) such Participant executes an Agreement and Release in a form
          acceptable to the Company at the time of the Participant's termination
          of employment.

No other individual shall be eligible for benefits under the Plan and the
payment of benefits hereunder shall not be affected by the payment of retirement
or other benefits under any other Company plan.

Section IV.    Severance Payments.

     A Participant who satisfies the eligibility requirements of Section III
hereof shall receive severance payments equal to the sum of the following:

                                      -7-
<PAGE>   8

     A.   an amount equal to two times (or in the case of the Chief Executive
Officer of the Company three times) the Participant's annual base salary in
effect on the date the termination occurs; plus

     B.   the amount of the Participant's annual incentive plan target award
in effect for the calendar year in which the termination occurs determined
without regard to whether the applicable targets are obtained, multiplied by a
fraction, the numerator of which is the number of days in the year of
termination that the Participant was an employee of the Company, and the
denominator of which is 365; plus

     C.   the amount (or in the case of the Chief Executive Officer, two times
the amount) of the Participant's annual incentive plan target award in effect
for the year in which the termination occurs determined without regard to
whether the applicable targets are obtained.

Section V.     Certain Additional Payments by the Company.

     (A)  Anything in this Plan to the contrary notwithstanding, in the event
it shall be determined that any payment, award, benefit or distribution (or any
acceleration of any payment, award, benefit or distribution) by the Company (or
any of its affiliated entities) or any entity which effectuates a Change of
Control (or any of its affiliated entities) to or for the benefit of a
Participant (whether pursuant to the terms of this Plan or otherwise, but
determined without regard to any additional payments required under this Section
V) (the "Payments") would be subject to the excise tax imposed by Section 4999
of the Internal Revenue Code of 1986, as amended (the "Code"), or any interest
or penalties are incurred by a Participant with respect to such excise tax (such
excise tax, together with any such interest and penalties, are hereinafter
collectively referred to as the "Excise Tax"), then the Company shall pay to
such Participant (or to the Internal Revenue Service on behalf of Participant)
an additional payment (a "Gross-Up Payment") in an amount such that after
payment by such Participant of all taxes (including any Excise Tax) imposed upon
the Gross-Up Payment, such Participant retains (or has had paid to the Internal
Revenue Service on his behalf) an amount of the Gross-Up Payment equal to the
sum of (x) the Excise Tax imposed upon the Payments and (y) the product of any
deductions disallowed because of the inclusion of the Gross-Up Payment in such
Participant's adjusted gross income and the highest applicable marginal rate of
federal income taxation for the calendar year in which the Gross-Up Payment is
to be made. For purposes of determining the

                                      -8-
<PAGE>   9

amount of the Gross-Up Payment, a Participant shall be deemed (i) to pay federal
income taxes at the highest marginal rates of federal income taxation for the
calendar year in which the Gross-Up Payment is to be made, (ii) to pay
applicable state and local income taxes at the highest marginal rate of taxation
for the calendar year in which the Gross-Up Payment is to be made, net of the
maximum reduction in federal income taxes which could be obtained from deduction
of such state and local taxes and (iii) to have otherwise allowable deductions
for federal income tax purposes at least equal to the Gross-Up Payment.

     (B)  Subject to the provisions of Section V(a), all determinations required
to be made under this Section V, including whether and when a Gross-Up Payment
is required, the amount of such Gross-Up Payment, and the assumptions to be
utilized in arriving at such determinations, shall be made by the public
accounting firm that is retained by the Company as of the date immediately prior
to the Change of Control (the "Accounting Firm") which shall provide detailed
supporting calculations both to the Company and the Participant within fifteen
(15) business days of the receipt of notice from the Company or Participant that
there has been a Payment, or such earlier time as is requested by the Company
(collectively, the "Determination"). In the event that the Accounting Firm is
serving as accountant or auditor for the individual, entity or group effecting
the Change of Control, the Participant may appoint another nationally recognized
public accounting firm to make the determinations required hereunder (which
accounting firm shall then be referred to as the Accounting Firm hereunder). All
fees and expenses of the Accounting Firm shall be borne solely by the Company
and the Company shall enter into any agreement reasonably requested by the
Accounting Firm in connection with the performance of the services hereunder.
The Gross-Up Payment under this Section V with respect to any Payments shall be
made no later than thirty (30) days following such Payment. If the Accounting
Firm determines that no Excise Tax is payable by the Participant, it shall
furnish the Participant with a written opinion to such effect, and to the effect
that failure to report the Excise Tax, if any, on the Participant's applicable
federal income tax return will not result in the imposition of a negligence or
similar penalty. The Determination by the Accounting Firm shall be binding upon
the Company and Participant. As a result of the uncertainty in the application
of Section 4999 of the Code at the time of the Determination, it is possible
that Gross-Up Payments which will not have been made by the Company should have
been made ("Underpayment") or Gross-Up Payments are made by the Company which
should not have been made ("Overpayment"), consistent with the calculations
required to be made hereunder. In the event that the Participant thereafter is
required to make payment of any

                                      -9-
<PAGE>   10

Excise Tax or additional Excise Tax, the Accounting Firm shall determine the
amount of the Underpayment that has occurred and any such Underpayment (together
with interest at the rate provided in Section 1274(b)(2)(B) of the Code) shall
be promptly paid by the Company to or for the benefit of the Participant. In the
event the amount of the Gross-Up Payment exceeds the amount necessary to
reimburse the Participant for his Excise Tax, the Accounting Firm shall
determine the amount of the Overpayment that has been made and any such
Overpayment (together with interest at the rate provided in Section 1274(b)(2)
of the Code) shall be promptly paid by the Participant (to the extent he has
received a refund if the applicable Excise Tax has been paid to the Internal
Revenue Service) to or for the benefit of the Company.

Section VI.    Payment of Benefits.

     Unless the Plan Administrator determines otherwise, all severance payments
hereunder shall be paid in a single lump sum at, or as soon as practicable
after, the Participant's termination of employment.

Section VII.   Continuation of Welfare Plan Coverage.

     In the event of a Participant's voluntary termination for Good Reason or
his or her involuntary termination by the Company other than a termination for
Cause, such Participant will be entitled, upon payment of any premiums or
co-payments theretofore required for such coverage, to continue all life,
accident, health and disability coverage, on the same basis as in effect on the
date he or she terminated employment, for a period of 24 months from the date of
termination (36 months in the case of the Chief Executive Officer), provided
that, to the extent permitted by law, such coverage may be terminated at the
discretion of the Plan Administrator in the event the Participant obtains at
least equal alternate coverage.

Section VIII.  Financial Planning Assistance.

     The Company will reimburse a Participant for all bills which the Plan
Administrator determines are reasonably related to financial planning assistance
and tax preparation, provided that such bills are incurred and evidence of
payment by the Participant is submitted to

                                      -10-
<PAGE>   11

the Plan Administrator within one year after the date of termination.

Section IX.    Reservation of Right to Amend and Terminate.

     The Company reserves the right, whether in an individual case or more
generally, by a majority of the Continuing Directors to amend, reduce or
eliminate the Plan, in whole or in part, at any time and from time to time
without notice, provided that no amendment to this Plan shall be made for two
years following the occurrence of a Change of Control if such amendment would
reduce the benefits hereunder and no such amendment shall be effective if a
Change of Control occurs within six months following such amendment.

Section X.     Relationship to Other Benefits.

     No payment under the Plan shall be taken into account in determining any
payments, benefits, coverage levels or participation rates under any incentive
compensation plan, any pension, retirement, profit sharing, group insurance, or
other benefit plan of the Company; provided that, a Participant shall not be
entitled to receive the severance payment set forth in Section IV.B. of this
Plan if such Participant becomes entitled to receive a comparable payment
pursuant to Article IV of the Company's Annual Incentive Plan by reason of a
Change of Control.

Section XI.    Administration.

     Subject to Section V of the Plan, the Plan Administrator shall have full
power and authority to interpret and carry out the terms of the Plan, and to
exercise discretion where necessary or appropriate in the interpretation and
administration of the Plan, and prior to a Change of Control all decisions by
the Plan Administrator shall be final and binding on all affected parties.

Section XII.   Expenses.

     All expenses of administering the Plan shall be borne by the Company.

                                      -11-
<PAGE>   12

Section XIII.  Withholding.

         The Company may withhold from any amounts payable hereunder such
Federal, state or local taxes as may be required to be withheld pursuant to any
applicable law or regulation.

Section XIV.   Governing Law.

     This Plan and all rights and obligations hereunder shall be construed in
accordance with and governed by the laws of the State of Delaware, without
reference to the principles of conflict of laws.

                                      -12-

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