Document:

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                                                                  Exhibit 10.8.a

                             FMC Technologies, Inc.
                           Savings and Investment Plan

                  (Adopted Effective as of September 28, 2001)

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                                TABLE OF CONTENTS
                                -----------------

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TABLE OF CONTENTS ..........................................................   i

INTRODUCTION ...............................................................   1

ARTICLE I  Definitions .....................................................   1
           -----------
Account ....................................................................   1
Account Balance ............................................................   1
Administrator ..............................................................   1
Affiliate ..................................................................   1
After-Tax Contribution .....................................................   2
After-Tax Contribution Account .............................................   2
After-Tax Contribution Election ............................................   2
Annuity Starting Date ......................................................   2
Basic Contributions ........................................................   2
Beneficiary ................................................................   2
Board ......................................................................   2
Break in Service ...........................................................   2
Code .......................................................................   3
Committee ..................................................................   3
Company ....................................................................   3
Company Contributions ......................................................   3
Company Contribution Account ...............................................   3
Company Stock ..............................................................   3
Company Stock Fund .........................................................   3
Compensation ...............................................................   3
Contingent Account .........................................................   4
Direct Rollover ............................................................   4
Disability .................................................................   4
Distributee ................................................................   4
Distribution Date ..........................................................   5
Effective Date .............................................................   5
Eligible Employee ..........................................................   5
Eligible Retirement Plan ...................................................   5
Eligible Rollover Distribution .............................................   5
Employee ...................................................................   6
Employment Commencement Date ...............................................   6
ERISA ......................................................................   6
FMC ........................................................................   6
FMC Matched Plan ...........................................................   6
FMC Plans ..................................................................   6
FMC Stock ..................................................................   6
FMC Stock Fund .............................................................   6
FMC Unmatched Plan .........................................................   6
Forfeiture .................................................................   6
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Funding Agent .............................................................    6
Highly Compensated Employee ...............................................    6
Hour of Service ...........................................................    7
Investment Fund ...........................................................    7
Leased Employee ...........................................................    8
Matched Participant .......................................................    8
Nonhighly Compensated Employee ............................................    8
Participant ...............................................................    8
Participating Employer ....................................................    8
Period of Separation ......................................................    8
Plan ......................................................................    8
Plan Year .................................................................    9
Pre-Tax Contribution ......................................................    9
Pre-Tax Contribution Account ..............................................    9
Pre-Tax Contribution Election .............................................    9
Required Beginning Date ...................................................    9
Rollover Contribution .....................................................    9
Rollover Contribution Account .............................................    9
Supplemental Contributions ................................................    9
Surviving Spouse ..........................................................    9
Trust .....................................................................    9
Trust Fund ................................................................    9
Trustee ...................................................................    9
Valuation Date ............................................................    9
Year of Service ...........................................................   10

ARTICLE II Participation ..................................................   10
           -------------
2.1  Admission as A Participant ...........................................   10
2.2  Admission as a Matched Participant ...................................   10
2.3  Rehires ..............................................................   10
2.4  Provision of Information .............................................   11
2.3  Termination of Participation .........................................   11
2.4  Special Rules Relating to Veterans' Reemployment Rights ..............   11

ARTICLE III Contributions and Account Allocations .........................   12
            -------------------------------------
3.1  Pre-Tax Contributions ................................................   12
3.2  After-Tax Contributions ..............................................   12
3.3  Rules Applicable to Both Pre-Tax and After-Tax Contributions .........   13
3.4  Company Contributions ................................................   13
3.5  Rollover Contributions ...............................................   14
3.6  Establishment of Accounts ............................................   14
3.7  Limitation on Annual Additions to Accounts ...........................   16
3.8  Reduction of Annual Additions ........................................   15
3.9  Limitations on Pre-Tax Contributions, After-Tax Contributions and
     Company Contributions - Definitions ..................................   15
3.10 Maximum Amount of Pre-Tax Contributions ..............................   18
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3.11 Correction of Excess Pre-Tax Contributions ..........................................   18
3.12 Actual Deferral Percentage Test .....................................................   19
3.13 Actual Contribution Percentage Test .................................................   20
3.14 Multiple Use of Alternative Limitation ..............................................   21

ARTICLE IV Vesting .......................................................................   22
           -------
4.1  Vesting in After-Tax, Pre-Tax and Rollover Contributions Accounts ...................   22
4.2  Vesting in Company Contribution and Contingent Accounts .............................   22
4.3  Forfeitures .........................................................................   23

ARTICLE V Timing of Distributions to Participants ........................................   24
          ---------------------------------------
5.1  Separation from Service .............................................................   24
5.2  Start of Benefit Payments ...........................................................   24

ARTICLE VI Forms of Benefit, In-Service Withdrawals and Loans ............................   25
           --------------------------------------------------
6.1  Cashout of Small Amounts ............................................................   25
6.2  Medium of Distribution ..............................................................   26
6.3  Forms of Benefit ....................................................................   26
6.4  Change in Form, Timing or Medium of Benefit Payment .................................   27
6.5  Direct Rollover of Eligible Rollover Distributions ..................................   27
6.6  In-service and Hardship Withdrawals .................................................   27
6.7  Loans ...............................................................................   30

ARTICLE VII Death Benefits ...............................................................   31
            --------------
7.1  Payment of Account Balance ..........................................................   31
7.2  Failure to Name a Beneficiary .......................................................   31
7.3  Waiver of Spousal Beneficiary Rights ................................................   32

ARTICLE VIII  Special Forms of Benefit and
              Death Benefit Terms Terms for Certain Prior to 2002 ........................   32
              ---------------------------------------------------
8.1  Applicability .......................................................................   32
8.2  Forms of Benefit for Certain Transferred Participants ...............................   33
8.3  Change in Form, Timing or Medium of Benefit Payment for Certain
     Transferred Participants ............................................................   34
8.4  Waiver of Normal Form of Benefit for Certain Transferred Participants ...............   34
8.5  Payment of Account Balances of Certain Transferred Participants Who
     Die Before Payment Begins ...........................................................   36
8.6  Failure to Name a Beneficiary for Certain Transferred Participants ..................   37
8.7  Waiver of Preretirement Survivor Annuity for Certain Transferred Participants .......   37

ARTICLE IX Fiduciaries ...................................................................   38
           -----------
9.1  Named Fiduciaries ...................................................................   38
9.2  Employment of Advisers ..............................................................   39
9.3  Multiple Fiduciary Capacities .......................................................   39
9.4  Payment of Expenses .................................................................   39
9.5  Indemnification .....................................................................   39
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                                     -iii-

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ARTICLE X Plan Administration ..................................................................   40
          -------------------
10.1  Powers, Duties and Responsibilities of the Administrator and the Committee ...............   40
10.2  Investment Powers, Duties and Responsibilities of the Administrator and Committee ........   40
10.3  Investment of Accounts ...................................................................   41
10.4  Valuation of Accounts ....................................................................   41
10.5  The Insurance Company ....................................................................   41
10.6  Compensation .............................................................................   42
10.7  Delegation of Responsibility .............................................................   42
10.8  Committee Members ........................................................................   42

ARTICLE XI Appointment of Trustee ..............................................................   42
           ----------------------

ARTICLE XII Plan Amendment or Termination ......................................................   43
            -----------------------------
12.1  Plan Amendment or Termination ............................................................   43
12.2  Limitations on Plan Amendment ............................................................   43
12.3  Right to Terminate Plan or Discontinue Contributions .....................................   43
12.4  Bankruptcy ...............................................................................   43

ARTICLE XIII Miscellaneous Provisions ..........................................................   44
             ------------------------
13.1  Subsequent Changes .......................................................................   44
13.2  Merger or Transfer of Assets .............................................................   44
13.3  Benefits Not Assignable ..................................................................   44
13.4  Exclusive Benefit of Participants ........................................................   45
13.5  Benefits Payable to Minors, Incompetents and Others ......................................   45
13.6  Plan Not A Contract of Employment ........................................................   45
13.7  Source of Benefits .......................................................................   46
13.8  Proof of Age and Marriage ................................................................   46
13.9  Controlling Law ..........................................................................   46
13.10 Income Tax Withholding ...................................................................   46
13.11 Claims Procedure .........................................................................   46
13.12 Participation in the Plan by An Affiliate ................................................   48
13.13 Action by Participating Employers ........................................................   48
13.14 Dividends ................................................................................   48

ARTICLE XIV Top Heavy Provisions ...............................................................   48
            --------------------
14.1  Top Heavy Definitions ....................................................................   48
14.2  Determination of Top Heavy Status ........................................................   51
14.3  Minimum Allocation for Top Heavy Plan ....................................................   51

APPENDIX A - Bargaining Units Covered Under the Plan ...........................................   54

APPENDIX B - Bargaining Units Matched Under the Plan ...........................................   55

APPENDIX C - Certain Participants Grandfathered in 1% Deferred or Contribution
Election Through December 31, 2001 .............................................................   56
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                                      -iv-

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                                  INTRODUCTION
                                  ------------

         The FMC Technologies, Inc. Savings and Investment Plan ("Plan") is
hereby established effective as of September 28, 2001, in connection with a
spin-off of assets and liabilities from the FMC Corporation Savings and
Investment Plan and the FMC Corporation Savings and Investment Plan for
Bargaining Unit Employees ("FMC Plans").

         The Company or its delegate may amend the Plan to meet applicable rules
and regulations of the Internal Revenue Service and the United States Department
of Labor, or, subject to the terms of any applicable collective bargaining
agreements, for other reasons the Company or its delegate deems necessary or
desirable.

         The Plan is intended to be qualified under Code Section 401(a) and its
associated trust is intended to be tax exempt under Code Section 501(a). The
Plan is intended also to meet the requirements of ERISA, and will be
interpreted, wherever possible, to comply with the terms of the Code and ERISA.

                                    ARTICLE I

                                   Definitions
                                   -----------

For purposes of the Plan, as amended, the following terms have the meanings
described below.

         Account means any Pre-Tax Contribution Account, After-Tax Contribution
         -------
Account, Company Contribution Account, Contingent Account and Rollover
Contribution Account established on behalf of a Participant.

         Account Balance means the value of the Account maintained on behalf of
         ---------------
a Participant, determined as of any Valuation Date.

         Administrator means the Company. The Plan is administered by the
         -------------
Company through the Committee. The Administrator and the Committee have the
responsibilities specified in Article X.

         Affiliate means any corporation, partnership, or other entity that is:
         ---------

               (a)  a member of a controlled group of corporations of which the
         Company is a member (as described in Code Section 414(b));

               (b)  a member of any trade or business under common control with
         the Company (as described in Code Section 414(c));

               (c)  a member of an affiliated service group that includes the
         Company (as described in Code Section 414(m));

               (d)  an entity required to be aggregated with the Company
         pursuant to regulations promulgated under Code Section 414(o); or

                                       -1-

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               (e)  a leasing organization that provides Leased Employees to the
         Company or an Affiliate (as determined under paragraphs (a) through
         (d) above), unless: (i) the Leased Employees make up no more than 20%
         of the nonhighly compensated workforce of the Company and Affiliates
         (as determined under paragraphs (a) through (d) above); and (ii) the
         Leased Employees are covered by a plan described in Code Section
         414(n)(5).

"Leasing organization" has the meaning ascribed to it in the definition of
"Leased Employee" below.

For purposes of Section 3.7, the 80% thresholds of Code Sections 414(b) and (c)
are deemed to be "more than 50%," rather than "at least 80%."

         After-Tax Contribution means the amount a Participant contributes in
         ----------------------
accordance with Section 3.2. A Matched Participant's After-Tax Contribution may
be made up of Basic Contributions, Supplemental Contributions or both.

         After-Tax Contribution Account means the Account established for a
         ------------------------------
Participant pursuant to Section 3.6.2.

         After-Tax Contribution Election means a Participant's election to make
         -------------------------------
After-Tax Contributions in accordance with Section 3.3.1.

         Annuity Starting Date means the first day of the first period for which
         ---------------------
an amount is paid in an annuity or other form of benefit. In the case of a lump
sum distribution, the Annuity Starting Date is the date payment is actually
made.

         Basic Contributions means a Matched Participant's Pre-Tax Contributions
         -------------------
and After-Tax Contributions not in excess of five percent of his or her
annualized Compensation.

         Beneficiary means any person designated or deemed designated by a
         -----------
Participant to receive any payment of Plan benefits due after the Participant's
death. A married Participant may name a primary Beneficiary other than his or
her Surviving Spouse only if the Surviving Spouse consents to the election in
the time frame and manner required by Section 7.3.

         Board means the board of directors of the Company.
         -----

         Break in Service means a Period of Separation that lasts for at least
         ----------------
12 consecutive months, provided that, a Period of Separation beginning on the
first date of a maternity or paternity leave of absence and ending on the
12-month anniversary of such date will not constitute a Break in Service. For
purposes of this section, a "maternity or paternity leave of absence" means an
absence from work for any period by reason of (a) the Employee's pregnancy, (b)
birth of the Employee's child or (c) care of a child for a period immediately
following the birth or placement with the Employee.

                                       -2-

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         Code means the Internal Revenue Code of 1986, as amended from time to
         ----
time. Reference to a specific provision of the Code includes that provision, any
successor to it and any valid regulation promulgated under the provision or
successor provision.

         Committee means the FMC Technologies, Inc. Employee Welfare Benefits
         ---------
Plan Committee as described in Section 10.8, its authorized delegate and any
successor to the FMC Technologies, Inc. Employee Welfare Benefits Plan
Committee.

         Company means FMC Technologies, Inc. and any successor to it.
         -------

         Company Contributions means the contributions made by the Employer to
         ---------------------
Matched Participants under Section 3.4.

         Company Contribution Account means an account maintained as to each
         ----------------------------
Matched Participant, to which the Matched Participant's share of Company
contributions, FMC contributions made under the FMC Matched Plan for periods
after March 31, 1982, and all earnings and losses attributable thereto it, are
allocated.

         Company Stock means the common stock of the Company.
         -------------

         Company Stock Fund means an Investment Fund established and maintained
         ------------------
by the Trustee as part of the Trust Fund to invest in Company Stock. All Plan
contributions placed in or directed to the Company Stock Fund and all dividends,
other earnings and appreciation on those contributions must be invested in
Company Stock, except as and to the extent it is deemed necessary or advisable
to maintain cash and cash equivalents to meet the Company Stock Fund's liquidity
needs. The Company Stock Fund is subject to investment restrictions as detailed
in Section 10.3.

         Compensation means the total compensation paid by the Company or a
         ------------
Participating Employer to an Eligible Employee for each Plan Year that is
currently includible in gross income for federal income tax purposes:

          (a)  including: overtime, administrative and discretionary bonuses
               ---------
               (including completion bonuses, gainsharing bonuses and
               performance related bonuses); sales incentive bonuses; field
               premiums; back pay and sick pay; plus the Employee's Pre-Tax
               Contributions and amounts contributed to a plan described in Code
               Section 125 or 132; and the 9/12 of the incentive compensation
               (including management incentive bonuses paid in both cash and
               restricted stock and local incentive bonuses) paid during the
               Plan Year for services rendered in the preceding Plan Year, and
               the 3/12 of the incentive compensation (of the same types) paid
               during the preceding Plan Year for services rendered in the Plan
               Year preceding the preceding Plan Year (unless, the Participant
               elects all such incentive compensation paid for prior Plan Years
               to be included in Compensation for the prior Plan Years, or
               unless the Participant elects that no such incentive compensation
               will be included in his or her Compensation);

                                       -3-

<PAGE>

         (b)   but excluding: hiring bonuses; referral bonuses; stay bonuses;
               -------------
               retention bonuses; awards (including safety awards, "Gutbuster"
               awards and other similar awards); amounts received as deferred
               compensation; disability payments from insurance or the Company's
               long-term disability plan; workers' compensation benefits; state
               disability benefits; flexible credits (i.e., wellness awards and
               payments for opting out of benefit coverage); expatriate
               premiums; grievance or settlement pay; pay in lieu of notice;
               severance pay; incentives for reduction in force accrued (but not
               earned) vacation; other special payments such as reimbursements,
               relocation or moving expense allowances; stock options or other
               stock-based compensation (except as provided above); any gross-up
               paid by a Participating Employer on any amount paid that is
               Compensation (as defined herein); other distributions that
               receive special tax benefits; any amounts paid by a Participating
               Employer to cover an Employee's FICA tax obligation as to amounts
               deferred or accrued under any nonqualified retirement plan of a
               Participating Employer; and any gross-up paid by a Participating
               Employer on any amount paid that is not Compensation (as defined
               herein).

Notwithstanding anything herein to the contrary, no amounts paid to a
Participant more than 30 days after his or her termination of employment with
the Company or a Participating Employer will be considered Compensation.

         The annual amount of Compensation taken into account for a Participant
must not exceed $160,000 (as adjusted by Internal Revenue Service for
cost-of-living increases in accordance with Code Section 401(a)(17)(B)). A
Participant's Compensation will be conclusively determined according to the
Company's records.

         Contingent Account means an account maintained as to each applicable
         ------------------
Participant, to which the Participant's share of any FMC contributions made
under the FMC Matched Plan for periods before April 1, 1982, and all earnings
and losses attributable to it, are maintained and allocated.

         Direct Rollover means a payment by the Plan to the Eligible Retirement
         ---------------
Plan specified by a Distributee.

         Disability means a medically determinable physical or mental impairment
         ----------
that makes the Participant unable to engage in any substantial gainful activity,
can be expected to result in death or be of long and indefinite duration, or has
lasted or can be expected to last for a continuous period of at least 12 months.
For purposes of the Plan, a Participant will be considered to have a Disability
at any time only if he or she is then eligible to receive Social Security
disability benefits.

         Distributee means an Employee or former Employee. In addition, the
         -----------
Employee's or former Employee's Surviving Spouse and the Employee's or former
Employee's spouse or former spouse who is the alternate payee under a qualified
domestic relations order, as defined under Code Section 414(p), are Distributees
as to their Plan interests.

                                       -4-

<PAGE>

         Distribution Date means the date FMC distributes its interest in the
         -----------------
Company.

         Effective Date means September 28, 2001.
         --------------

         Eligible Employee means an Employee of a Participating Employer, other
         -----------------
than:

         (a)   a Leased Employee;

         (b)   a member of a bargaining unit covered by a collective
               bargaining agreement that does not specifically provide for
               participation in the Plan by members of the bargaining unit,
               or that is not listed in Appendix A;

         (c)   an Employee who is a nonresident alien of the United States; or

         (d)   an individual working for a Participating Employer under a
               contract that designates him or her as an independent contractor.

         An employee who works for a non-U.S. Affiliate, and who would be an
Eligible Employee if the non-U.S. Affiliate were a Participating Employer, will
be an Eligible Employee during the period in which the employee has U.S. taxable
income, and the Company will be deemed to be the Employee's employer for Plan
purposes.

         An individual's status as an Eligible Employee or not will be
conclusively determined by the Administrator, subject to the claims review
procedure described in Section 13.11.

         The bargaining units whose members are covered by the Plan, and the
effective dates of that coverage, are listed in Appendix A.

         Eligible Retirement Plan means an individual retirement account
         ------------------------
described in Code Section 408(a), an individual retirement annuity described in
Code Section 408(b), an annuity plan described in Code Section 403(a), or a plan
described in Code Section 401(a) that accepts the Distributee's Eligible
Rollover Distribution. In the case of an Eligible Rollover Distribution paid to
a Surviving Spouse, an Eligible Retirement Plan is either an individual
retirement account or individual retirement annuity, and does not include an
annuity plan or a Code Section 401(a) plan.

         Eligible Rollover Distribution means any distribution of all or any
         ------------------------------
portion of the balance to the credit of the Distributee, other than (a) a
distribution that is one of a series of substantially equal periodic payments
made (no less frequently than annually) for the life (or life expectancy) of the
Distributee and the Distributee's Beneficiary, or for a specified period of ten
years or more; (b) the portion of a distribution that is required to be made
under Code Section 401(a)(9); (c) the portion of a distribution that is not
includible in gross income (determined without regard to the exclusion for net
unrealized appreciation for employer securities); or (iv) a "hardship
distribution" within the meaning of Code Section 402(c)(4).

                                       -5-

<PAGE>

         Employee means (a) a common law employee of the Company or an Affiliate
         --------
who is paid as an employee from the payroll of the Company or an Affiliate and
treated as an employee, or (b) a Leased Employee.

         Employment Commencement Date means the date on which the Employee first
         ----------------------------
performs an Hour of Service.

         ERISA means the Employee Retirement Income Security Act of 1974, as
         -----
amended from time to time. Reference to a specific provision of ERISA includes
the provision, any successor provision and any valid regulation promulgated
under the provision or successor provision.

         FMC means FMC Corporation, a Delaware corporation.
         ---

         FMC Matched Plan means the FMC Corporation Savings and Investment Plan.
         ----------------

         FMC Plans means the FMC Corporation Savings and Investment Plan and the
         ---------
FMC Corporation Savings and Investment Plan for Bargaining Unit Employees.

         FMC Stock means the common stock of FMC.
         ---------

         FMC Stock Fund means an Investment Fund established and maintained by
         --------------
the Trustee as part of the Trust Fund to invest in FMC Stock. All Plan
Contributions placed in or directed to the FMC Stock Fund and all dividends,
other earnings and appreciation on those contributions must be invested only in
FMC Stock, except as and to the extent it is deemed necessary or advisable to
maintain cash and cash equivalents to meet the FMC Stock Fund's liquidity needs.
The FMC Stock Fund is subject to investment restrictions as detailed in Section
10.3. Notwithstanding anything herein to the contrary, any dividend payable on
FMC Stock as a result of FMC's distribution of its interest in the Company shall
not be required to be reinvested in FMC Stock.

         FMC Unmatched Plan means the FMC Corporation Savings and Investment
         ------------------
Plan for Bargaining Unit Employees.

         Forfeiture means any portion of a Matched Participant's Company
         ----------
Contribution Account that is forfeited under Section 4.3.

         Funding Agent means the Trustee or any legal reserve life insurance
         -------------
company selected by the Administrator or the Committee to receive Plan
contributions and pay Plan benefits.

         Highly Compensated Employee  means an Employee who:
         ---------------------------

         (a)   at any time during the Determination Year or the Look-Back
               Years owns (or is considered under Code Section 318 to own)
               more than five percent of the Company or an Affiliate; or

         (b)   had more than $80,000, as adjusted, in compensation (as
               defined in Code Section 415(c)(3)) from the Company and the
               Affiliates during the Look-Back Year.

                                       -6-

<PAGE>

The "Determination Year" is the Plan Year for which the determination of who is
a Highly Compensated Employee is being made, and the `Look-Back year' is the
12-month period immediately preceding the Determination Year.

         A former Employee of the Company or an Affiliate is a Highly
Compensated Employee for a given Determination Year if he or she separated from
service (or was deemed to have separated) before the Determination Year,
performs no services for a Participating Employer during the Determination Year,
and was a Highly Compensated Employee for the Plan Year during which he or she
separated from service (or was deemed to have separated) or for any
Determination Year ending on or after his or her 55th birthday.

         The Secretary of the Treasury or its delegate will adjust the $80,000
limit from time to time, to reflect increases in the cost of living. Employees
who are nonresident aliens and receive no earned income (within the meaning of
Code Section 911(d)(2)) from the Company and its Affiliates that constitutes
income from sources within the United States (within the meaning of Code Section
861(a)(3)) are not treated as Employees for purposes of this definition.

         Hour of Service means each hour for which an Employee is directly or
         ---------------
indirectly paid or entitled to payment by the Company or an Affiliate:

          (a)  for the performance of duties;

          (b)  on account of a period of time during which no duties were
               performed, provided that Hours of Service will not be credited
               for payments made or due under a plan maintained solely for the
               purpose of complying with applicable workers' compensation,
               unemployment compensation, or disability insurance laws, or for
               payments that reimburse an Employee's for medically related
               expenses; and

          (c)  for which back pay, irrespective of mitigation of damages, is
               awarded or agreed to by the Company, provided that, the same
               Hours of Service have not already been credited under (a) or (b)
               above.

No more than 501 Hours of Service will be credited for any single continuous
period of time during which the Employee performed no duties. The determination
of Hours of Service for reasons other than the performance of duties shall be
determined in accordance with the provisions of Labor Department Regulations
Section 2530.200b-2(b), which are incorporated herein by reference, and Hours of
Service shall be credited to computation periods in accordance with the
provisions of Labor Department Regulations Section 2530.200b-2(c), which are
incorporated herein by reference.

         Investment Fund means an investment fund, if any, established or
         ---------------
selected by the Administrator pursuant to Section 10.3.

                                       -7-

<PAGE>

         Leased Employee means an individual who performs services for the
         ---------------
Company or an Affiliate on a substantially full-time basis, for a period of at
least one year, under the primary direction or control of the Company or
Affiliate, and under an agreement between the Company or Affiliate and a leasing
organization. The leasing organization can be a third party or the Leased
Employee himself or herself.

         Matched Participant means a Participant who is eligible to receive
         -------------------
Company Contributions under Section 3.4, including, each (a) salaried
Participant, (b) non-union hourly Participant and (c) Participant who is a
member of a bargaining unit covered by a collective bargaining agreement that
specifically provides for a Company Contribution under the Plan to the eligible
members of the bargaining unit. The bargaining units whose members are eligible
for a Company Contribution under Section 3.4, and the effective dates of
eligibility for such contribution, are listed on Appendix B.

         Nonhighly Compensated Employee means an Employee who is not a Highly
         ------------------------------
Compensated Employee. Participant means an Eligible Employee who has begun but
not ended his or her participation in the Plan pursuant to the provisions of
Article II.

         Participating Employer means the Company and each other Affiliate that
         ----------------------
adopts the Plan with the consent of the Company, as provided in Section 13.12.

         Period of Separation means a continuous period of time when the
         --------------------
Employee is not employed by the Company or an Affiliate. A Period of Separation
begins on the date an Employee retires, dies, separates from service due to
Disability, quits or is discharged, or, if earlier, on the 12-month anniversary
of the date the Employee was otherwise first absent from service.
Notwithstanding the foregoing, a Period of Separation does not begin if the
Employee is:

         (a)   on a leave of absence authorized by the Company or an
               Affiliate in accordance with standard personnel policies
               applied in a nondiscriminatory manner to all similarly
               situated Employees, and returns to active employment with the
               Company or Affiliates as soon as the leave expires;

         (b)   on a military leave while the Employee's reemployment rights
               are protected by law, and returns to active employment with
               the Company or Affiliate within 90 days after his or her
               discharge or release (or such longer period as may be
               prescribed by law); or

         (c)   on a layoff, and returns to work with the Company or an
               Affiliate within the period of time and in the manner
               necessary to maintain seniority according to the rules of the
               Company or Affiliate in effect at the time of the return.

         Plan means the FMC Technologies, Inc. Savings and Investment Plan. The
         ----
Plan is a single employer plan.

                                       -8-

<PAGE>

         Plan Year means the 12-month period beginning on each January 1 and
         ---------
ending on the next December 31. The period from the Effective Date through
December 31, 2001 is a short Plan Year.

         Pre-Tax Contribution means the amount that otherwise would have been
         --------------------
paid as Compensation that is, before taxes, converted to a Participating
Employer contribution in accordance with Section 3.1. A Matched Participant's
Pre-Tax Contribution may be made up of Basic Contributions, Supplemental
Contributions or both.

         Pre-Tax Contribution Account means the Account established for a
         ----------------------------
Participant pursuant to Section 3.6.1.

         Pre-Tax Contribution Election means the Participant's election to make
         -----------------------------
Pre-Tax Contributions in accordance with Section 3.3.1.

         Required Beginning Date is defined in Section 5.2.3.
         -----------------------

         Rollover Contribution means an amount received from a deferred
         ---------------------
compensation plan that is qualified under Code Section 401 or 403(a), and which
is rolled over to the Plan pursuant to Code Section 402(c). A Rollover
Contribution can be either a Direct Rollover or an amount distributed to a
Participant and then rolled over. In addition, if an Employee had deposited an
Eligible Rollover Distribution into an individual retirement account as defined
in Code Section 408, he or she may transfer the amount of the distribution plus
earnings from the individual retirement account to the Plan, if the rollover
amount is deposited with the Trustee within 60 days after receipt from the
individual retirement account, and the rollover meets the other requirements of
Code Section 408(d)(3)(A)(ii).

         Rollover Contribution Account means the Account established for a
         -----------------------------
Participant pursuant to Section 3.6.3.

         Supplemental Contributions means a Matched Participant's Pre-Tax
         --------------------------
Contributions and After-Tax Contributions in excess of five percent of his or
her annualized Compensation.

         Surviving Spouse means the person legally married to a Participant on
         ----------------
the date of his or her death or on his or her Annuity Starting Date, whichever
is earlier.

         Trust means the trust established under the Plan, to which Plan
         -----
contributions are made and in which Plan assets are held.

         Trust Fund means the assets of the Trust held by or in the name of the
         ----------
Trustee.

         Trustee means the institution appointed as Trustee pursuant to Article
         -------
XI of the Plan, and any successor Trustee.

         Valuation Date means each business day of the Plan Year.
         --------------

                                       -9-

<PAGE>

         Year of Service means the total number of calendar months during which
         ---------------
the Employee is employed by the Company or an Affiliate, divided by 12,
including any Period of Separation that does not constitute a Break in Service.
A partial month of employment counts as a whole month. An Employee's Years of
Service do not include any Breaks in Service.

                                   ARTICLE II

                                  Participation
                                  -------------

2.1      Admission as a Participant
         --------------------------

         An Employee becomes a Participant as of the date he or she satisfies
all of the following requirements:

         (a)    the Employee is an Eligible Employee;

         (b)    the Employee either (i) is a permanent, full-time Employee, (ii)
                is a permanent, part-time employee eligible for benefits, or
                (iii) has completed at least 1,000 Hours of Service in a
                12-month period beginning on his or her Employment Commencement
                Date or an anniversary of his or her Employment Commencement
                Date;

         (c)    the Employee has filed with the Administrator a Pre-Tax
                Contribution Election or After-Tax Contribution Election; and

         (d)    the Employee's election has become effective according to
                uniform and nondiscriminatory rules established by the
                Administrator.

2.2      Admission as a Matched Participant
         ----------------------------------

         A Participant becomes a Matched Participant as of the date he or she
satisfies all of the following requirements:

         (a)    the Participant satisfies one of the conditions for being a
                Matched Participant;

         (b)    the Participant has filed with the Administrator a Pre-Tax
                Contribution Election or After-Tax Contribution Election; and

         (c)    the Participant's election has become effective according to
                uniform and nondiscriminatory rules established by the
                Administrator.

2.3      Rehires
         -------

         A Participant or Eligible Employee who is rehired as an Eligible
Employee after a Period of Separation becomes an active Participant by filing
with the Administrator a Pre-Tax Contribution Election or After-Tax Contribution
Election. When the Employee's election becomes effective, the Participant or
Eligible Employee will again become an active Participant. If such a Participant
satisfies one of the conditions for being a Matched Participant, the

                                      -10-

<PAGE>

Participant becomes an active Matched Participant by filing with the
Administrator a Pre-Tax Contribution Election or After-Tax Contribution
Election. When the Pre-Tax Contribution Election or After-Tax Contribution
Election becomes effective, the Matched Participant will become an active
Matched Participant.

2.4      Provision of Information
         ------------------------

         The Administrator may provide for paper, telephonic or electronic means
of enrollment. Each Participant must execute the forms or follow the telephonic
or electronic procedures required by the Administrator and make available to the
Administrator any information it reasonably requests. As a condition of
participating in the Plan, an Employee agrees, on his or her own behalf and on
behalf of all persons who may have or claim any right by reason of the
Employee's participation in the Plan, to be bound by all provisions of the Plan
and by any agreement entered into pursuant to the Plan, each as interpreted by
the Administrator in its uniform and nondiscriminatory discretion.

2.5      Termination of Participation
         ----------------------------

         A Participant ceases to be a Participant when he or she dies or, if
earlier, when his or her entire Account Balance has been paid to him or her. A
Matched Participant ceases to be a Matched Participant when he or she no longer
satisfies one of the conditions for being a Matched Participant.

2.6      Special Rules Relating to Veterans' Reemployment Rights
         -------------------------------------------------------

         The following special provisions will apply to an Eligible Employee or
Participant who is reemployed in accordance with the reemployment provisions of
the Uniformed Services Employment and Reemployment Rights Act ("USERRA")
following a period of qualifying military service (as determined under USERRA)
and will be interpreted in a manner consistent with Code Section 414(u).

         2.6.1 Each period of qualifying military service served by an Eligible
Employee or Participant will, upon his or her reemployment as an Eligible
Employee, be deemed to constitute service with the Participating Employer for
all Plan purposes.

         2.6.2 The Participant will be permitted to make up Pre-Tax and/or
After-Tax Contributions missed during the period of qualifying military service,
so long as he or she does so during the period of time beginning on the date of
the Participant's reemployment with the Participating Employer following his or
her period of qualifying military service and extending over the lesser of (a)
three times the length of the Participant's period of qualifying military
service, and (b) five years.

         2.6.3 The Participating Employer will not credit earnings to a
Participant's Account with respect to any Pre-Tax or After-Tax Contribution
before the contribution is actually made.

         2.6.4 A reemployed Matched Participant will be entitled to accrued
benefits attributable to Pre-Tax or After-Tax Contributions only if they are
actually made.

                                      -11-

<PAGE>

         2.6.5 For all Plan purposes, including the Participating Employer's
liability for making contributions on behalf of a reemployed Participant as
described above, the Participant will be treated as having received Compensation
from the Participating Employer based on the rate of Compensation the
Participant would have received during the period of qualifying military
service, or if that rate is not reasonably certain, on the basis of the
Participant's average rate of Compensation during the 12-month period
immediately preceding the period of qualifying military service.

         2.6.6 If a Participant makes a Pre-Tax or After-Tax Contribution in
accordance with the foregoing provisions of this Section 2.6:

         (a)    those contributions will not be subject to any otherwise
                applicable limitation under Code Section 402(g), 404(a) or 415,
                and will not be taken into account in applying those limitations
                to other contributions under the Plan or any other plan, for the
                year in which the contributions are made; the contributions will
                be subject to the above-referenced limitations only for the year
                to which the contributions relate and only in accordance with
                regulations prescribed by the Internal Revenue Service; and

         (b)    the Plan will not be treated as failing to meet the requirements
                of Code Section 401(a)(4), 401(a)(26), 401(k)(3), 410(b) or 416
                by reason of the contributions.

                                   ARTICLE III

                      Contributions and Account Allocations
                      -------------------------------------

3.1      Pre-Tax Contributions
         ---------------------

         The Company will transmit to the Funding Agent the Pre-Tax
Contributions for the Participants. To determine the amount it must transmit for
each Participant, the Company will multiply the percentage elected by the
Participant in his or her Pre-Tax Contribution Election by the Participant's
Compensation.

3.2      After-Tax Contributions
         -----------------------

         The Company will transmit to the Funding Agent the After-Tax
Contributions for the Participants. To determine the amount it must transmit for
each Participant, the Company will multiply the percentage elected by the
Participant in his or her After-Tax Contribution Election by the Participant's
Compensation.

                                      -12-

<PAGE>

3.3      Rules Applicable to Both Pre-Tax and After-Tax Contributions
         ------------------------------------------------------------

         3.3.1 In making his or her Pre-Tax Contribution Election and After-Tax
Contribution Election, a Participant must choose to defer or contribute between
2% and 20% of his or her Compensation, in 1% increments. The Participant's
Pre-Tax Contribution Election and After-Tax Contribution Election cannot
together total more than 20% of his or her Compensation. For certain
Participants listed on Appendix C for periods beginning on the Effective Date
through December 31, 2001, the minimum deferral or contribution election may be
less than 2% under the Participants' prior election under the FMC Plans. The
Administrator may reduce the amount of any Pre-Tax Contribution Election, or
make such other modifications it deems necessary, so that the Plan complies with
the provisions of Code Section 401(k). Pre-Tax and After-Tax Contributions will
be made on a payroll deduction basis and in accordance with uniform and
nondiscriminatory rules and procedures established by the Administrator. A
Participant's Salary Deferral Election will apply only to Compensation paid to
the Participant while he or she is an Eligible Employee.

         3.3.2 A Participant may change his or her Pre-Tax or After-Tax
Contribution Election percentage or discontinue making Pre-Tax Contributions or
After-Tax Contributions, as frequently as permitted by the Administrator, by
completing the form or following any other election change procedure prescribed
by the Administrator. An election change will become effective according to the
uniform and nondiscriminatory rules established by the Administrator.

         3.3.3 Pre-Tax and After-Tax Contributions will be delivered to the
Funding Agent as of the earliest date they are known and can reasonably be
segregated from the general assets of the Participating Employer. In no event
will that date be later than the 15th business day of the month following the
month they would have been paid to the Participant if he or she had not chosen
to defer their payment or contribute them to the Plan.

         3.3.4 Notwithstanding any other provision of the Plan, the amount
contributed by the Participating Employers as Pre-Tax Contributions and by
Participants as After-Tax Contributions must not exceed, in the aggregate, 15%
of the total Compensation for the Plan Year for those Participants employed by
the Participating Employers eligible for an allocation for that Plan Year. In
addition, the amount contributed by the Participating Employers to this Plan or
any other qualified plan maintained by the Participating Employers pursuant to a
Participant's Pre-Tax Contribution Election must not exceed the Code Section
402(g) limit applicable for that calendar year.

3.4      Company Contributions
         ---------------------

         3.4.1 For each contribution period, as defined in Section 3.4.2, the
Company will make a Company Contribution to the Company Contribution Account of
each Matched Participant equal to:

         (a)    the applicable percentage of all Basic Contributions made by the
                Matched Participant for that contribution period and initially
                invested in the Company Stock Fund, or, for periods beginning
                before the Distribution Date, the FMC Stock Fund; plus

                                      -13-

<PAGE>

         (b)    the applicable percentage of all Basic Contributions made by the
                Matched Participant for that contribution period and initially
                invested in any Investment Funds other than the Company Stock
                Fund, or, for periods beginning before the Distribution Date,
                the FMC Stock Fund; less

         (c)    any Forfeitures credited against the Company Contribution for
                that contribution period.

No Company Contribution will be made with respect to Supplemental Contributions.

         The applicable percentage for a Plan Year will be determined by the
Company before the start of the Plan Year. It is currently anticipated that the
applicable percentage will be different for Basic Contributions initially
invested in the Company Stock Fund, or, for periods beginning before the
Distribution Date, the FMC Stock Fund, than for Basic Contributions initially
invested in other Investment Funds. The Company will communicate the applicable
percentages for each Plan Year as soon as possible after they are determined.

         3.4.2 The Company Contribution for each contribution period will be
paid to the Funding Agent as soon as practicable. The Company Contribution will
be allocated to each Matched Participant who made Basic Contributions during
that contribution period, by multiplying the Matched Participant's own Basic
Contributions for the contribution period by the applicable percentages
determined for the Matched Participant, as described above. All Company
Contributions will be invested in the Company Stock Fund or, for periods
beginning before the Distribution Date, the FMC Stock Fund. Each calendar week
will be a contribution period. Subject to the special provisions of Section 3.13
through 3.15, all Company Contributions for a Plan Year will be allocated to
Matched Participants' Company Contribution Accounts no later than the due date
(including all extensions) of the Company's federal tax return for the fiscal
year of the Company ending with or within the Plan Year.

3.5      Rollover Contributions
         ----------------------

         With the approval of the Administrator, a Participant or Eligible
Employee may make a Rollover Contribution to the Plan. A Participant's Rollover
Contribution will be allocated to his or her Rollover Contribution Account no
later than the first day of the month following the month in which the
contribution is made. A Rollover Contribution must be made in cash. If an
Employee makes a contribution that was intended to be a Rollover Contribution
and the Funding Agent later discovers it was not a Rollover Contribution, the
Funding Agent will distribute the balance of the Participant's Rollover
Contribution Account to him or her as soon as practicable.

3.6      Establishment of Accounts
         -------------------------

         3.6.1 Each Participant to whom Pre-Tax Contributions are allocated will
have a Pre-Tax Contribution Account. The Pre-Tax Contribution Account will be
credited with the Pre-Tax Contributions allocable to the Participant and the
income on those contributions, and will be debited with expenses, losses,
withdrawals and distributions chargeable to those contributions.

         3.6.2 Each Participant who makes After-Tax Contributions will have an
After-Tax Contribution Account. The After-Tax Contribution Account will be
credited with the After-Tax

                                      -14-

<PAGE>

Contributions the Participant makes and the income on those contributions, and
will be debited with expenses, losses, withdrawals and distributions chargeable
to those contributions.

         3.6.3 Each Matched Participant who makes Basic Contributions will have
a Company Contribution Account. The Company Contribution Account will be
credited with any Company Contributions made on behalf of the Matched
Participant under Section 3.4, and the income on those contributions, and will
be debited with expenses, losses, withdrawals and distributions chargeable to
those contributions.

         3.6.4 Each Participant who makes a Rollover Contribution to the Plan
pursuant to Section 3.5 will have a Rollover Contribution Account. The Rollover
Contribution Account will be credited with all Rollover Contributions made by
the Participant and the income on those contributions, and will be debited with
expenses, losses, withdrawals and distributions chargeable to those
contributions.

3.7      Limitation on Annual Additions to Accounts
         ------------------------------------------

         Notwithstanding any provision of the Plan to the contrary, the total
annual additions allocated for any Plan Year to the Account of a Participant and
to his or her accounts under any other defined contribution plan maintained by
the Company or an Affiliate must not exceed $30,000 or 25% of the Participant's
Compensation. For purposes of this Section 3.7, "annual additions" include all
Pre-Tax Contributions, After-Tax Contributions, Company Contributions and
Forfeitures allocated to the Participant's Accounts for the Plan Year, except
for Excess Pre-Tax Contributions (as described in Section 3.11.4) distributed to
the Participant by April 15 following the year for which they were contributed
to the Plan. "Annual additions" also include any employer and employee
contributions and forfeitures allocated for the Plan Year under other defined
contribution plans of the Company and the Affiliates.

3.8      Reduction of Annual Additions
         -----------------------------

         If the annual additions allocated to a Participant's Accounts for the
Plan Year exceed the limitation described in Section 3.7, annual additions, with
their earnings, will be returned to the Participant in the minimum amount
necessary to meet the limitation on annual additions. Supplemental Contributions
(both After-Tax Contributions and Pre-Tax Contributions, in that order) will be
returned first, and if there are not enough to satisfy the limitation on annual
additions, Basic Contributions (both After-Tax Contributions and Pre-Tax
Contributions, in that order) will be returned. If, after all of the
Participant's Supplemental and Basic Contributions have been returned, the
annual additions allocated to the Participant's Account for the Plan Year still
exceed the limitation described in Section 3.7, the excess amounts attributable
to Company Contributions will be held in a suspense account containing the
excess amounts attributable to Company Contributions for all Matched
Participants, and will be used to reduce the Company Contributions for the
following Plan Year (and later Plan Years, if necessary), before any Company
Contributions that would be annual additions for the next Plan Year (or later
Plan Years, if necessary) are made to the Plan.

                                      -15-

<PAGE>

3.9      Limitations on Pre-Tax Contributions, After-Tax Contributions and
         -----------------------------------------------------------------
Company Contributions - Definitions
-----------------------------------

         For purposes of Sections 3.9 through 3.15, the terms defined below have
the meanings ascribed to them in this Section 3.9.

         3.9.1 Actual Contribution Percentage means the sum of any After-Tax
Contributions and Company Contributions allocated to the Eligible Participant
for the Plan Year, plus any of the Eligible Participant's Pre-Tax Contributions
treated as Company Contributions for the Plan Year, divided by the Eligible
Participant's Plan Year Compensation, and stated as a percentage. All after-tax
employee contributions and employer matching contributions made on behalf of a
Highly Compensated Employee under all plans of the Company and its Affiliates
will be aggregated to determine the Highly Compensated Employee's Actual
Contribution Percentage. A Company Contribution that is treated as a Pre-Tax
Contribution under Section 3.13.7 is subject to Section 3.13 and is not taken
into account in calculating an Eligible Participant's Actual Contribution
Percentage. A Company Contribution that is forfeited to correct Excess Aggregate
Contributions, or because the contribution to which it relates is treated as an
Excess Contribution, Excess Pre-Tax Contribution or Excess Aggregate
Contribution is not taken into account in calculating the Eligible Participant's
Actual Contribution Percentage. The Actual Contribution Percentage of an
Eligible Participant who does not make a Pre-Tax Contribution Election or an
After-Tax Contribution Election is 0.0%.

         3.9.2 Actual Deferral Percentage means the amount of Pre-Tax
Contributions allocated to the Eligible Participant for the Plan Year, divided
by his or her Plan Year Compensation, stated as a percentage. In calculating the
Actual Deferral Percentage, Pre-Tax Contributions include Excess Pre-Tax
Contributions for Highly Compensated Employees (whether they were made under
plans of unrelated employers or plans of the same or related employers) but do
not include Excess Pre-Tax Contributions for Nonhighly Compensated Employees.
The Actual Deferral Percentage of an Eligible Participant who does not make a
Pre-Tax Contribution Election is 0.0%.

         3.9.3 Aggregate Limit means the greater of:

         (a)   the sum of:

               (i)     1.25 times the Average Actual Deferral Percentage or the
                       Average Actual Contribution Percentage of the group,
                       whichever is larger; and

               (ii)    two percentage points plus the Average Actual Deferral
                       Percentage or the Average Actual Contribution Percentage
                       of the group, whichever is less, but in no event more
                       than twice the lesser of the group's Average Actual
                       Deferral Percentage and its Average Actual Contribution
                       Percentage; and

         (b)   the sum of:

               (i)     1.25 times the Average Actual Deferral Percentage or the
                       Average Actual Contribution Percentage of the group,
                       whichever is less; and

                                      -16-

<PAGE>

               (ii)   two percentage points plus the Average Actual Deferral
                      Percentage or the Average Actual Contribution Percentage
                      of the group, whichever is larger, but in no event more
                      than twice the larger of the group's Average Actual
                      Deferral Percentage and its Average Actual Contribution
                      Percentage.

For purposes of this Section 3.10.3, the "group" is the group of Eligible
Participants who are Nonhighly Compensated Employees for the preceding Plan
Year.

         3.9.4 Average Actual Contribution Percentage means the average of the
Actual Contribution Percentages of the Eligible Participants in a group.

         3.9.5 Average Actual Deferral Percentage means the average of the
Actual Deferral Percentages of the Eligible Participants in a group.

         3.9.6 Eligible Participant means any Employee who is eligible to make a
Pre-Tax Contribution Election or an After-Tax Contribution Election any time
during the Plan Year.

         3.9.7 Excess Aggregate Contributions means, for any Plan Year, the
excess of the Company and After-Tax Contributions (and any Pre-Tax Contributions
or pre-tax salary deferrals under other plans taken into account in determining
the Actual Contribution Percentages) actually made on behalf of Highly
Compensated Employees for the Plan Year, over the maximum amount of Company and
After-Tax Contributions permitted under Section 3.14 for the Plan Year. The
amount of the Excess Aggregate Contribution for any given Eligible Participant
is determined by making bookkeeping reductions (as opposed to actual reductions)
in contributions. The reductions will be made by reducing the Company and
After-Tax contributions for the Highly Compensated Employee with the highest
combined dollar amount of Company and After-Tax Contributions by the lesser of:
(a) the amount necessary for the dollar amount of that Highly Compensated
Employee's combined Company and After-Tax Contributions to equal the combined
dollar amount of the Company and After-Tax Contributions of the Highly
Compensated Employee with the next highest combined dollar amount of Company and
After-Tax Contributions; and (b) the amount necessary for the Plan to satisfy
the Actual Contribution Percentage Test. The Administrator will repeat this
bookkeeping procedure until the Plan satisfies the Actual Contribution
Percentage Test of Section 3.14. For each Highly Compensated Employee's
reductions, the Administrator will begin by making reductions in his or her
Company Contributions, and will reduce the Highly Compensated Employee's
After-Tax Contributions only if his or her Company contributions for the Plan
Year have been reduced to zero and it is still necessary to reduce his or her
Plan Year contributions. The amount of any Highly Compensated Employee's Excess
Aggregate Contributions is calculated after determining the Excess Contribution
to be recharacterized as After-Tax Contributions for the Plan Year.

         3.9.8 Excess Contributions means for any Plan Year, the excess of the
Pre-Tax Contributions (and any Company contributions taken into account in
determining the Actual Deferral Percentages) that are made on behalf of Highly
Compensated Employees for the Plan Year, over the maximum amount of Pre-Tax
Contributions permitted under Section 3.13 for the Plan Year. The amount of the
Excess Contribution for any given Eligible Participant is determined by making
bookkeeping reductions (as opposed to actual reductions) in

                                      -17-

<PAGE>

contributions. The reduction will be made by reducing the Pre-Tax Contributions
for the Highly Compensated Employee with the highest dollar amount of Pre-Tax
Contributions by the lesser of: (a) the amount necessary for the dollar amount
of that Highly Compensated Employee's Pre-Tax Contributions to equal the dollar
amount of the Pre-Tax Contributions for the Highly Compensated Employee with the
next highest dollar amount of Pre-Tax Contributions, and (b) the amount
necessary for the Plan to satisfy the Actual Deferral Percentage Test. The
Administrator will repeat this bookkeeping procedure until the Plan satisfies
the Actual Deferral Percentage Test set forth in Section 3.13.

         3.9.9 Excess Pre-Tax Contribution means the amount of Pre-Tax
Contributions for a calendar year that are includible in a Participant's gross
income under Code Section 402(g) because the Participant's elective deferrals
exceed the dollar limitation under Code Section 402(g) as determined under
Sections 3.11 and 3.12.

3.10     Maximum Amount of Pre-Tax Contributions
         ---------------------------------------

         The total amount of Pre-Tax Contributions, 401(k) contributions under
another qualified plan, and deferrals under a Code Section 403(b) annuity, a
simplified employee pension and/or a simple retirement account allocated to a
Participant in any calendar year cannot exceed the dollar limitation in effect
under Code Section 402(g) for that year.

3.11     Correction of Excess Pre-Tax Contributions
         ------------------------------------------

         3.11.1 Excess Pre-Tax Contributions, as adjusted per Section 3.12.2,
will be distributed to each Participant on whose behalf they were made no later
than the first April 15 following the close of the taxable year of the
Participant for which they were allocated. In no event may the amount
distributed under this Section 3.12 exceed the Participant's total Pre-Tax
Contributions (as adjusted under Section 3.12.2 for income and losses allocable
to them) for the taxable year for which he or she had Excess Pre-Tax
Contributions.

         3.11.2 The Excess Pre-Tax Contributions to be distributed to a
Participant will be adjusted for income or losses through the close of the Plan
Year for which they were made. Income and losses allocable to a Participant's
Excess Pre-Tax Contributions will be determined in a nondiscriminatory manner
(within the meaning of Code Section 401(a)(4)) consistent with the valuation of
Participant Accounts under Section 10.4.

         3.11.3 If a Participant has Excess Pre-Tax Contributions, but only when
taking into account his or her pre-tax contributions under another plan, in
order to receive a distribution of Excess Pre-Tax Contributions, he or she must
make a written claim to the Administrator no later than the March 15 following
the taxable year of the Participant for which the contributions were made. The
claim must specify the amount of the Participant's Excess Pre-Tax Contributions
for the preceding taxable year and be accompanied by the Participant's written
statement that if those amounts are not distributed, the Participant's Pre-Tax
Contributions, when added to amounts deferred under other plans or arrangements
described in Code Sections 401(k), 402(h)(1)(B) (a simplified employee pension),
403(b) (an annuity plan) or 408(p)(2)(A)(i) (a simple retirement plan) will
exceed the limit imposed on the Participant by Code Section 402(g) for the year
in which the deferral occurred.

                                      -18-

<PAGE>

         3.11.4 Excess Pre-Tax Contributions distributed prior to the first
April 15 following the close of the Participant's taxable year will not be
treated as Annual Additions under Section 3.7 for the preceding Limitation Year.

         3.11.5 Any Pre-Tax Contributions that are properly distributed under
Section 3.8 as excess Annual Additions are disregarded in determining if there
are any Excess Pre-Tax Contributions.

3.12     Actual Deferral Percentage Test
         -------------------------------

         3.12.1 The Average Actual Deferral Percentage for Eligible Participants
who are Highly Compensated Employees for the Plan Year may not exceed the
greater of:

         (a)    the Average Actual Deferral Percentage for Eligible Participants
                who are Nonhighly Compensated Employees for the Plan Year
                multiplied by 1.25; and

         (b)    the lesser of:

                (i)   the Average Actual Deferral Percentage for Eligible
                      Participants who are Nonhighly Compensated Employees for
                      the Plan Year multiplied by two and

                (ii)  the Average Actual Deferral Percentage for Eligible
                      Participants who are Nonhighly Compensated Employees for
                      the Plan Year plus two percentage points.

         3.12.2 The provisions of Code Section 401(k)(3) are incorporated by
reference.

         3.12.3 If this Plan satisfies the requirements of Code Sections
401(a)(4), 401(k), and 410(b) only if aggregated with one or more other plans,
or if one or more other plans satisfy the requirements of those Code sections
only if aggregated with this Plan, then this Section 3.13 is applied by
determining the Actual Deferral Percentages of Eligible Participants as if all
the plans were a single plan.

         3.12.4 The Administrator also may treat one or more plans as a single
plan with the Plan whether or not the aggregated plans must be aggregated to
satisfy Code Sections 401(a)(4) and 410(b). However, those plans must then be
treated as one plan under Code Sections 401(a)(4), 401(k), and 410(b). Plans may
be aggregated under this Section 3.13.4 only if they have the same plan year.

         3.12.5 Pre-Tax Contributions may be considered made for a Plan Year if
made no later than the end of the 12-month period beginning on the day after the
close of the Plan Year.

         3.12.6 The determination and treatment of the Pre-Tax Contributions and
Actual Deferral Percentage of any Participant must satisfy all requirements
prescribed by the Secretary of the Treasury, including, without limitation,
record retention requirements.

                                      -19-

<PAGE>

         3.12.7 The Administrator will limit the election and allocation of
Pre-Tax Contributions in order to avoid the creation of Excess Contributions. If
and to the extent necessary or desirable, the Administrator will recharacterize
Excess Contributions as After-Tax Contributions, or will distribute Excess
Contributions. Recharacterized Excess Contributions will be treated as required
in Treasury Regulations Section 1.401(k)-1(f)(3). The Administrator will
recharacterize Excess Contributions within two and one-half months after the
close of the Plan Year in which they arose. A distribution of Excess
Contributions will normally be made within the same time frame. At all events, a
corrective distribution of Excess Contributions must be made within 12 months
after the end of the Plan Year in which they arose, and will include income
allocable the Excess Contributions for the Plan Year in which they arose. The
method used to determine the income allocable to Excess Contributions that are
distributed will not violate Code Section 401(a)(4), and will be applied
consistently for all Participants and all corrective distributions for any Plan
Year. Any distribution to a Participant of less than the entire amount of his or
her Excess Contributions will be treated as a pro rata distribution of Excess
Contributions and income. The Administrator may combine the correction methods
described in this Section 3.12.7. The amount of Excess Contributions to be
recharacterized or distributed to a Participant under this Section 3.13.7 will
be reduced by any Excess Pre-Tax Contributions previously distributed to the
Participant for his or her taxable year ending with or within the Plan Year.
Similarly, the amount of Excess Pre-Tax Contributions to be distributed for a
Participant's taxable year will be reduced by the amount of any Excess
Contributions previously distributed or recharacterized as to that Participant
for the Plan Year beginning with or within the Participant's taxable year.

3.13     Actual Contribution Percentage Test
         -----------------------------------

         3.13.1 The Average Actual Contribution Percentage for Eligible
Participants who are Highly Compensated Employees for the Plan Year may not
exceed the greater of:

         (a)    the Average Actual Contribution Percentage for Eligible
                Participants who are Nonhighly Compensated Employees for the
                Plan Year multiplied by 1.25; and

         (b)    the lesser of:

                (i)   the Average Actual Contribution Percentage for Eligible
                      Participants who are Nonhighly Compensated Employees for
                      the Plan Year multiplied by two; and

                (ii)  the Average Actual Contribution Percentage for Eligible
                      Participants who are Nonhighly Compensated Employees for
                      the Plan Year plus two percentage points.

         3.13.2 The provisions of Code Section 401(m)(2) are incorporated by
reference.

         3.13.3 If this Plan satisfies the requirements of Code Section
401(a)(4), 401(k) and 410(b) only if aggregated with one or more other plans, or
if one or more other plans satisfy the requirements of those Code sections only
if aggregated with this Plan, then this Section 3.14 is applied by determining
the Actual Contribution Percentage of Eligible Participants as if all the plans
were a single plan.

                                      -20-

<PAGE>

         3.13.4 The Administrator also may treat one or more plans as a single
plan with the Plan, whether or not the aggregated plans must be aggregated to
satisfy Code Sections 401(a)(4) and 410(b). However, those plans must then be
treated as one plan under Code Sections 401(a)(4), 401(m) and 410(b). Plans may
be aggregated under this Section 3.14.4 only if they have the same plan year.

         3.13.5 An After-Tax Contribution is considered made for a Plan Year if
it is deducted from the Participant's Compensation during the Plan Year and
transmitted to the Trustee within a reasonable period after that. A Company
Contribution is considered made for a Plan Year if it is allocated to a Matched
Participant's Account as of a date within the Plan Year, is actually paid to the
Trust no later than 12 months after the Plan Year, and is made on account of the
Matched Participant's Basic Contributions for the Plan Year. A Pre-Tax
Contribution may be considered made under this Section 3.14 for a Plan Year if
it is recharacterized for purposes of Section 3.13, and if it is includible in
the gross income of the Participant as of a date during that Plan Year. A
recharacterized Pre-Tax Contribution is includible in a Participant's gross
income as of the date it would have been paid to the Participant, had the
Participant not elected to defer it into the Plan.

         3.13.6 The determination and treatment of After-Tax and Company
Contributions and the Actual Contribution Percentage of any Participant must
satisfy all requirements prescribed by the Secretary of Treasury, including,
without limitation, record retention requirements.

         3.13.7 The Administrator will limit the making of After-Tax
Contributions in order to avoid the creation of Excess Aggregate Contributions.
If and to the extent necessary or desirable, the Administrator will forfeit any
Excess Aggregate Contributions that were Company Contributions and that were not
vested, and will distribute to the Participant who made them any Excess
Aggregate Contributions that were After-Tax Contributions, and will distribute
to the Matched Participant to whom they were allocated any Excess Aggregate
Contributions that were Company Contributions and were vested. A distribution of
Excess Aggregate Contributions will normally be made within two and one-half
months after the close of the Plan Year in which they arose. At all events a
corrective distribution of Excess Aggregate Contributions must be made no later
than 12 months after the close of the Plan Year in which they arose, and will
include income allocable to the Excess Aggregate Contributions for the Plan Year
in which they arose. The method used to determine the income allocable to any
Excess Aggregate Contributions that are distributed will not violate Code
Section 401(a)(4), and will be applied consistently for all Participants and all
corrective distributions for any Plan Year. Any distribution to a Participant of
less than the entire amount of his or her Excess Aggregate Contributions will be
treated as a pro rata distribution of Excess Aggregate Contributions and income.
The Administrator may combine the correction methods described in this Section
3.14.7.

         3.14 Multiple Use of Alternative Limitation
              --------------------------------------

         3.14.1 Multiple use of the alternative limitation occurs if all of the
following conditions are satisfied.

         (a)    The sum of the Average Actual Contribution Percentage for
                Eligible Participants who are Highly Compensated Employees and
                the Average Actual Deferral

                                      -21-

<PAGE>

                Percentage for Eligible Participants who are Highly Compensated
                Employees is greater than the Aggregate Limit for the preceding
                Plan Year.

         (b)    The Average Actual Deferral Percentage for Eligible Participants
                who are Highly Compensated Employees exceeds the amount
                described in Section 3.13.1(a).

         (c)    The Average Actual Contribution Percentage for Eligible
                Participants who are Highly Compensated Employees exceeds the
                amount descried in Section 3.14.1(a)

         3.14.2 The Average Actual Deferral and Contribution Percentages for
Eligible Participants who are Highly Compensated Employees will be determined
for purposes of this Section 3.15 after corrective measures have been taken
under Sections 3.13.7 and 3.14.7.

         3.14.3 The Administrator will limit the making of After-Tax
Contributions or, if that is not sufficient, the election and allocation of
Pre-Tax Contributions, in order to avoid multiple use of the alternative
limitation. If and to the extent necessary or desirable, the Administrator will
eliminate multiple use of the alternative limitation by reducing the Average
Actual Contribution Percentage of the Eligible Participants who are Highly
Compensated Employees in the manner described in Section 3.10.7 above. The
amount of the required reduction will be Excess Aggregate Contributions, and
will be forfeited or distributed to Highly Compensated Employees as described in
Section 3.14.7 above.

                                   ARTICLE IV

                                     Vesting
                                     -------

4.1      Vesting in After-Tax, Pre-Tax and Rollover Contributions Accounts
         -----------------------------------------------------------------

         A Participant is always 100% vested in the balance of his or her
After-Tax Contribution Account, Pre-Tax Contribution Account and Rollover
Contribution Account.

4.2      Vesting in Company Contribution and Contingent Accounts
         -------------------------------------------------------

         4.2.1 A Participant becomes vested in any balance of his or her Company
Contribution Account and Contingent Account according to the following Schedule:

                       Years of Service      Percent Vested
                       ----------------      --------------

                        Fewer than 2                  0%
                        2 but fewer than 3           20%
                        3 but fewer than 4           40%
                        4 but fewer than 5           60%
                        5 or more                   100%

         4.2.2 Notwithstanding the foregoing, a Participant will become 100%
vested in the balance of his or her Company Contribution Account and Contingent
Account if:

                                      -22-

<PAGE>

         (a)    he or she reaches age 55 while employed by the Company or one of
                its Affiliates;

         (b)    he or she separates from service due to Disability;

         (c)    he or she dies while employed by the Company or one of its
                Affiliates;

         (d)    he or she ceases to be an Employee because of the permanent
                shutdown of a single site of employment or of one or more
                facilities or operating unites within a single site of
                employment; or

         (e)    he or she is employed by the Company or one of its Affiliates
                involved in a transaction and the Committee, in its discretion,
                fully vests the Participant in connection with the transaction.

         4.2.3. If a Participant is hired by the Company or one of its
Affiliates as a result of an acquisition, the Committee (or its delegate) may,
in its discretion, give the Participant and all other Participants hired under
the same circumstances as a result of the same acquisition credit for service
with a prior employer for purposes of vesting.

         4.3   Forfeitures
               -----------

         4.3.1 A Participant forfeits the non-vested portion of his or her
Company Contribution and Contingent Accounts on the earlier of: (a) the date as
of which he or she receives a distribution of his or her entire Company
Contribution and Contingent Accounts and (b) the date his or her Period of
Separation equals five years. The nonvested amount so forfeited is a
`Forfeiture.' If the Participant incurs a Forfeiture under clause (a) above and
his or her Period of Separation is shorter than five years, the Forfeiture is
restored, and the Period of Separation counts towards the Participant's Years of
Service, along with service before and after the Period of Separation, in
determining the Participant's Years of Service for purposes of Section 4.2. If
the Period of Separation is five years or longer, the Forfeiture will not be
restored, but the Period of Separation counts towards the Participant's Years of
Service, along with service before and after the Period of Separation, in
determining the Participant's Years of Service for purposes of Section 4.2. If a
Participant begins a Period of Separation by way of a maternity or paternity
leave, this Section 4.3.1 will be read by substituting the number `six' for the
number `five' wherever the latter number appears. A `maternity or paternity
leave' is an absence from work because of the Participant's pregnancy, the birth
of a child to or placement of a child for adoption with the Participant, or the
need to care for the Participant's child immediately following its birth to or
placement with the Participant.

         4.3.2 Amounts that become Forfeitures during a month will be used to
restore Forfeitures to rehired Participants as provided in Section 4.3.1. Any
remaining Forfeitures during a month will be used to pay the administrative
expenses of the Plan in the following order: Trustee's fees, communications to
Participants, nondiscrimination testing, qualified domestic relations order
administration, enrollment fees, required minimum distribution fees, auditors'
fees, consulting and legal fees and other similar administrative expenses. Any
remaining Forfeitures during a month will be used to reduce the Company's
obligation to make Company Contributions in that month or succeeding months. Any
remaining Forfeitures during a month will be used to pay fees associated with
Participant communications to Participants

                                      -23-

<PAGE>

involved in an acquisition or divestiture and Participant Account adjustments,
as determined by the Committee or its delegate. While awaiting allocation, until
such time as the Company applies Forfeitures to the purposes described above,
they will be invested in a default fund selected by the Company.

                                    ARTICLE V

                     Timing of Distributions to Participants
                     ---------------------------------------

5.1      Separation from Service
         -----------------------

         Upon his or her separation from service with the Company and all
Affiliates for any reason, a Participant will be entitled to receive the vested
portion of his or her Account Balance, determined in accordance with the
provisions of Article IV and the valuation rules established for each Investment
Fund. The date as of which the Participant's Account Balance is determined will
be the Valuation Date preceding the date of distribution.

5.2      Start of Benefit Payments
         -------------------------

         5.2.1 Except as provided in Sections 5.2.2 and 5.2.3, unless a
Participant otherwise elects, payment of benefits will begin no later than the
60th day after the close of the Plan Year in which the latest of the following
events occurs:

         (a)   the Participant's 65th birthday;

         (b)   the 10th anniversary of the year in which the Participant
               commenced participation; and

         (c)   the Participant's separation from service.

If the amount of benefits payable to or in respect of a Participant cannot be
determined by the benefit commencement date described in the preceding sentence,
or if the Administrator cannot locate the Participant (or, if the Participant
has died, his or her Beneficiary) after making a reasonable effort to do so,
benefit payments will begin no later than 60 days after the amount of the
Participant's benefits can first be determined or the Participant (or his or her
Beneficiary) is located, in the amount necessary to bring the payments up to
date, as if they had begun on the benefit commencement date described in the
preceding sentence.

         5.2.2 The Participant's Account Balance will be distributed as soon as
practicable after the Participant elects a distribution following the
Participant's separation from service. Notwithstanding the foregoing, if at the
time of his or her separation from service the Participant's total Account
Balance exceeds $5,000 the Participant may elect to defer distribution of his or
her Account Balance until a date no later than his or her Required Beginning
Date. A Participant will be deemed to have elected to defer payment of benefits
from the Plan until the date the Participant requests a distribution from the
Plan in a manner consistent with the uniform and nondiscriminatory rules
established by the Administrator.

                                      -24-

<PAGE>

         5.2.3 Notwithstanding any other provision of this Plan, a Participant
must begin to receive his or her benefit no later than his or her Required
Beginning Date. The amount to be distributed each year will be the minimum
amount required to satisfy Code Section 401(a)(9) and the regulations
promulgated thereunder, determined with no recalculation of life expectancy. The
Required Beginning Date of a Participant is April 1 of the calendar year
following the later of the calendar year in which the Participant reaches age
70-1/2 or, retires. Notwithstanding any other provision of this Section 5.2.3,
if a Participant is a five percent owner (as defined in Code Section 416) for
the Plan Year ending in the calendar year in which he or she reaches age 70-1/2,
his or her Required Beginning Date is April 1 of the following calendar year.

         5.2.4 Notwithstanding any other provision of this Plan, all Plan
distributions will comply with Code Section 401(a)(9), including Department of
Treasury Regulation Section 1.401(a)(9)-2. In addition, the benefit payments
distributed to any Participant will satisfy the incidental death benefit
provisions under Code Section 401(a)(9)(G) and the regulations promulgated under
it.

         5.2.5 If the Participant dies after beginning distribution of his or
her Account Balance, the remainder of the Account Balance will be payable in
accordance with Section 7.1. Notwithstanding the foregoing, the Participant's
Account Balance must continue to be distributed at least as rapidly as under the
method of distribution in effect before the Participant died.

         5.2.6 If the Participant dies before beginning distribution of his or
her Account Balance, the Participant's Account Balance will be distributed as
provided under Section 7.1, but distribution must be completed within five years
after the Participant dies. Notwithstanding the foregoing, the Participant's
Beneficiary may receive the Account Balance over his or her life or over a
period not extending beyond his or her life expectancy, so long as distribution
begins within one year after the Participant dies, or, if the Beneficiary is the
Participant's Surviving Spouse, by the date the Participant would have reached
age 70-1/2. Furthermore, if the Participant's Surviving Spouse is the
Beneficiary and dies before distribution begins, the next Beneficiary to take
may receive benefits over his or her life or a period not exceeding his or her
life expectancy, so long as distribution begins by the date the Surviving Spouse
would have reached age 70-1/2.

                                   ARTICLE VI

               Forms of Benefit, In-Service Withdrawals and Loans
               --------------------------------------------------

6.1      Cashout of Small Amounts
         ------------------------

         Notwithstanding any other Plan provision, if a Participant's Account
Balance is not larger than $5,000 the Account Balance will be paid in one lump
sum to the Participant as soon as practicable after the Participant's separation
from service, without his or her consent or the consent of his or her spouse.

                                      -25-

<PAGE>

6.2      Medium of Distribution
         ----------------------

         A Participant's Account Balance will be distributed by check to the
Participant or Beneficiary entitled to it (or to his or her designated agent).
Alternatively, as to any amount invested in the Company Stock Fund and the FMC
Stock Fund at the time of distribution, the Participant or, where applicable,
his or her Beneficiary, may request a certificate representing the whole shares
of Company Stock and/or FMC Stock held for him or her, and a check representing
any fractional share. The Administrator will establish uniform and
nondiscriminatory rules governing the timing, content and manner of elections
under this Section 6.2.

6.3      Forms of Benefit
         ----------------

         6.3.1  A Participant or Beneficiary may elect to have his or her
Account Balance distributed in any of the forms described below.

         (a)    Lump Sum: This form of benefit pays the entire Account Balance
                in one payment.

         (b)    Installments for a Fixed Period: The Participant or Beneficiary
                may elect to receive annual, quarterly or monthly installments
                over a fixed period of 20 years or less.

         (c)    Installments over Life Expectancy: The Participant or
                Beneficiary may elect to receive annual, quarterly or monthly
                installments over his or her life expectancy or over the joint
                life expectancy of the Participant and his or her Beneficiary.

         6.3.2 If the Participant chooses to receive installments, the size of
each installment will be calculated by dividing the Account Balance determined
as of the date described in Section 5.1 by the total number of installments
remaining to be paid.

         6.3.3 The Administrator will establish uniform and nondiscriminatory
rules governing the timing, content and manner of elections under this Section
6.3.

         6.3.4 No installment election under this Plan will permit payments to
be made over a period longer than the Participant's life expectancy or the joint
life expectancy of the Participant and his or her Beneficiary. A Participant may
not elect any stream of installments providing payments to a Beneficiary who is
other than his or her spouse, unless the amount distributed each year equals or
exceeds the quotient obtained by dividing the Participant's Account Balance by
the divisor determined under Department of Treasury Regulation Section
1.401(a)(9)-2. Further, the amount of the periodic payment made to a Beneficiary
cannot under any circumstances be larger than the amount of the periodic payment
made to the Participant.

                                      -26-

<PAGE>

6.4      Change in Form, Timing or Medium of Benefit Payment
         ---------------------------------------------------

         Any former Employee or former employee of FMC who is a Participant and
who has chosen to defer payment of his or her Account Balance may request a
change in the form, timing or medium in which his or her Account Balance will be
paid, so long as the revised election conforms to Section 6.3. Once benefit
payments have begun, no Participant may change the form, timing or medium of
payment of his or her Account Balance.

6.5      Direct Rollover of Eligible Rollover Distributions
         --------------------------------------------------

         6.5.1 Notwithstanding any provision of the Plan, a Distributee may
elect, at the time and in the manner prescribed below, to have any portion of an
Eligible Rollover Distribution paid in a Direct Rollover to an Eligible
Retirement Plan specified by the Distributee.

         6.5.2 At least 30, but no more than 90, days before the Annuity
Starting Date, the Administrator will furnish the Participant with a notice
containing information regarding his or her right to take distribution directly
or to elect a Direct Rollover, and some of the federal tax consequences of the
alternative types of distribution. The notice must meet the requirements of Code
Section 402(f). The Administrator will give the Participant an election period
of at least 30 days to decide whether to elect a Direct Rollover.
Notwithstanding the foregoing, the election period may end immediately after the
Participant makes an affirmative election as to whether to receive the
distribution directly or in the form of a Direct Rollover, so long as the
Participant is properly informed of his or her right to a full 30-day election
period, and waives the remainder of the election period.

6.6      In-service and Hardship Withdrawals
         -----------------------------------

         6.6.1 An active Participant who has reached age 59-1/2 may elect to
withdraw all or any part of his or her Account. The Administrator will establish
uniform and nondiscriminatory procedures for requesting, granting and processing
in-service withdrawals under this Section 6.6.1, which may include telephonic or
electronic procedures, as and to the extent permitted by applicable law or
regulation.

         6.6.2 An active Participant who has not reached age 59 1/2 may make a
withdrawal of the following portions of the Participant's Account Balance in the
order listed below:

         (a)   all or part of the After-Tax Contributions he or she made to the
               FMC Plans after March 31, 1986 and before January 1, 1987;

         (b)   all earnings or appreciation attributable to After-Tax
               Contributions he or she made to the FMC Plans after March 31,
               1986 and before January 1, 1987;

         (c)   all or part of the After-Tax Contributions he or she made to the
               FMC Plans or to the Plan after December 31, 1986;

         (d)   all or part of his or her After-Tax Contributions made to the FMC
               Plans before April 1, 1982, or, if less, the amount in the
               Participant's After-Tax Contribution Account allocable to those
               contributions;

                                      -27-

<PAGE>

         (e)   any amount remaining in the Participant's After-Tax Contribution
               Account that is allocable to After-Tax Contributions made to the
               FMC Plans before April 1982;

         (f)   all earnings or appreciation attributable to the After-Tax
               Contributions he or she made to the FMC Plans or to the Plan
               after December 31, 1986;

         (g)   all the vested value of his or her Contingent Account;

         (h)   all of the current value of vested Company Contributions and FMC
               contributions made as to After-Tax Contributions he or she made
               to the Plan or FMC Plans after December 31, 1986.

The Administrator will establish uniform and nondiscriminatory procedures for
requesting, granting and processing in-service withdrawals under this Section
6.6.2, which may include electronic or telephonic procedures, as and to the
extent permitted by applicable law or regulation.

         6.6.3 An active Participant may make a hardship withdrawal from his or
her Pre-Tax Contribution Account if he or she demonstrates to the Administrator
that the withdrawal is necessary to satisfy the Participant's immediate and
heavy financial need. A hardship withdrawal cannot exceed the total Pre-Tax
Contributions made to the Plan on behalf of the Participant by the date of the
withdrawal, reduced by the amounts of any previous hardship or other in-service
withdrawals. In addition, the minimum hardship withdrawal permitted is $500, or,
if less, the total amount of Pre-Tax Contributions, made for the Participant,
minus any previous hardship or in-service withdrawals.

         (a)   A distribution is on account of an immediate and heavy financial
               need if it is for:

               (1)   medical expenses as described in Code Section 213(d)
                     incurred by the Participant, his spouse or dependents;

               (2)   costs directly related to the purchase of a principal
                     residence for the Participant (excluding mortgage
                     payments);

               (3)   tuition payments, or related education expenses, for the
                     next 12 months of post-secondary education for the
                     Participant or the Participant's spouse or dependents;

               (4)   payments necessary to prevent the Participant's eviction
                     from his or her principal residence, or foreclosure on the
                     mortgage on the Participant's residence;

               (5)   expenses incurred for the funeral of a member of the
                     Participant's immediate family;

               (6)   legal expenses incurred by the Participant in obtaining a
                     divorce;

                                      -28-

<PAGE>

               (7)    expenses incurred by the Participant in remedying an
                      uninsured property loss;

               (8)    expenses incurred by the Participant in adopting or
                      attempting to adopt a child;

               (9)    emergency expenses of the Participant in personal
                      bankruptcy; or

               (10)   other expenses deemed by the Administrator to constitute
                      hardships justifying a hardship withdrawal, and formally
                      adopted under rules of the Administrator as eligible for
                      hardship withdrawal.

         (b)   A withdrawal will be permitted only if the Participant certifies
               in writing to the Administrator that the "immediate and heavy
               financial need" cannot be met from other resources reasonably
               available to the Participant and the Participant further
               represents to the Administrator, in such manner and form as the
               Administrator may require, that the Participant's immediate and
               heavy financial need cannot be relieved:

               (1)    through reimbursement or compensation by insurance or
                      otherwise;

               (2)    by reasonable liquidation of the Participant's assets, to
                      the extent liquidation would not itself cause an immediate
                      and heavy financial need;

               (3)    by the Participant's ceasing to have Pre-Tax Contributions
                      made for him or her under the Plan; or

               (4)    by other distributions from plans maintained by a
                      Participating Employer or any other employer, or by
                      borrowing from commercial sources on reasonable commercial
                      terms.

               If the Participating Employer or the Administrator knows that the
               representation required by the preceding sentence would not be
               true, the hardship withdrawal request will not be granted.

         (c)   A hardship withdrawal under this Section 6.6.3 cannot exceed the
               amount required to relieve the financial need, including any
               amounts necessary to pay any federal, state, or local income
               taxes or penalties reasonably anticipated to result from the
               distribution.

         6.6.4 The Administrator will establish uniform and nondiscriminatory
procedures for requesting, granting and processing hardship withdrawals.

                                      -29-

<PAGE>

6.7      Loans
         -----

         6.7.1 An active Participant may submit an application to the
Administrator to borrow from his or her Account (on such uniform and
nondiscriminatory terms and conditions as the Administrator shall prescribe) an
amount, when added to the amount of any then outstanding loan, does not exceed
the lesser of:

         (a)   $50,000, reduced by the excess (if any) of the Participant's
               highest outstanding Plan loan balance during the one-year period
               ending on the day before the loan is made over the Participant's
               outstanding Plan loan balance on the day the loan is made; and

         (b)   50% of the Participant's Account as of the Valuation Date
               coincident with or immediately preceding the date the
               Administrator receives the application.

In calculating the Participant's loan limit, all loans from qualified plans of
the Company and all Affiliates will be aggregated.

         6.7.2 Each loan granted under the Plan will meet the following
requirements:

               (a)  it must be evidenced by a negotiable promissory note;

               (b)  the rate of interest payable on the unpaid balance of the
                    loan will be reasonable;

               (c)  the amount of the loan must be at least $1,000;

               (d)  the loan, by its terms, must require repayment within five
                    years;

               (e)  the loan will be secured by the Participant's interest in
                    the Account Balance of his or her Account, but not to exceed
                    50% of such Account; and

               (f)  the loan must be repaid through payroll deduction, or, if
                    the loan has been outstanding for at least three months, the
                    Participant may make one payment by check or money order of
                    the full amount of principal and interest then outstanding.

         6.7.3 If a Participant is granted a loan, a "Loan Account" will be
established for the Participant. All Loan Accounts will be held by the Funding
Agent, as part of the Trust Fund. The loan amount will be transferred from a
Participant's other Accounts according to uniform and nondiscriminatory ordering
rules adopted by the Administrator, and will be disbursed from the Loan Account.
Principal and interest payments of a loan will be credited initially to the Loan
Account of the Participant, and will be transferred as soon as reasonably
practicable thereafter to the other Accounts of the Participant according to
uniform and nondiscriminatory ordering rules adopted by the Administrator. All
fees and expenses incurred in connection with a loan obligation of a Participant
will be borne solely by the Participant's Account.

                                       -30-

<PAGE>

         6.7.4 Loan repayments will be made through payroll withholding during a
Participant's employment. Each Participant who requests a loan consents to such
payroll withholding for repayment of the loan. Upon termination of employment, a
Participant may elect to continue to repay the loan under such uniform and
nondiscriminatory rules as the Administrator has established. The Administrator
will cease payroll reduction for loan repayments as soon as reasonably
practicable after receipt of a court order to do so in the event of a
Participant's bankruptcy, and the loan will immediately be deemed to be in
default. Any fees and expenses incurred in connection with a loan and loss
caused by nonpayment or other default on a loan obligations will be borne solely
by the Loan Account of the Participant. A default will constitute a taxable
event to the Participant, necessitating certain reporting obligations on the
Administrator's part, and the note evidencing a loan in default will be executed
upon and processed in accordance with the uniform and nondiscriminatory rules
adopted by the Administrator. A Participant's loan repayments will, at his or
her request, be suspended during the time he or she is absent as a result of
qualifying military service (as determined under USERRA), as permitted under
Code Section 414(u)(4).

         6.7.5 A Participant may not have more than two loans outstanding at any
given time.

         6.7.6 Upon termination of employment, a Participant who has an
outstanding loan under the Plan must repay his or her loan in a lump sum or the
loan will be in default. Notwithstanding the above, the Committee (or its
delegate) may, in its sole discretion, allow terminated Participants to continue
to repay loans under such uniform and nondiscriminatory rules as the Committee
(or its delegate) determines.

                                   ARTICLE VII

                                 Death Benefits
                                 --------------

7.1      Payment of Account Balance
         --------------------------

         7.1.1 Subject to the provisions of Section 5.2, if a Participant dies
before payment of his or her Account Balance has begun, his or her Account
Balance will be paid to the Participant's Beneficiary in the form of benefit
chosen by the Beneficiary under Sections 6.2 and 6.3. The Beneficiary of a
Participant who is married on the date of his or her death will be the
Participant's Surviving Spouse, unless the Participant has designated another
Beneficiary and the Surviving Spouse consented to the designation, both as
provided in Section 7.3.

7.2      Failure to Name a Beneficiary
         -----------------------------

         If a Participant fails to name a Beneficiary and dies before payment of
his or her Account Balance begins, or if no designated Beneficiary survives the
Participant, the Administrator will pay any amounts due after the Participant's
death to the Participant's surviving spouse or, if there is no surviving spouse,
to the Participant's surviving children, in equal shares. If the Participant
leaves behind no surviving spouse or children, the Administrator will pay any
amounts then due to the Participant's estate.

                                      -31-

<PAGE>

7.3      Waiver of Spousal Beneficiary Rights
         ------------------------------------

         7.3.1 A Participant may designate someone other than his or her
Surviving Spouse as his or her primary Beneficiary only if the designation or
election meets the requirements of this Section 7.3 outlined below.

         7.3.2 The Administrator will provide each Participant with a written
explanation of:

         (a)   the right of the Participant to name someone other than his or
               her Surviving Spouse as a Beneficiary;

         (b)   the right of the Participant's spouse to be named as the primary
               Beneficiary for all of the Participant's Account Balance and the
               effect of waiving that right; and

         (c)   the Participant's right to revoke a previous designation of
               someone other than the Surviving Spouse as a Beneficiary, and the
               effect of such a revocation.

         7.3.3 A designation of someone other than the Surviving Spouse as a
primary Beneficiary will be effective only if it is made in writing and
consented to by the Participant's spouse, with the spouse's consent witnessed by
a notary public or the Administrator. Any subsequent change of Beneficiary to an
individual who is not the Participant's Surviving Spouse must also be in writing
and consented to by the Participant's spouse, with the spouse's consent
witnessed by a notary public or the Administrator. Spousal consent is not
necessary if the Participant establishes to the satisfaction of a Plan
representative that the Participant does not have a spouse, or that the
Participant's spouse cannot be located. Spousal consent is also unnecessary if
the Participant produces a court order to the effect that the Participant is
legally separated from his or her spouse or has been abandoned by the spouse,
within the meaning of the law of the Participant's state of residence, unless a
qualified domestic relations order requires otherwise. If the Participant's
spouse is legally incompetent to give consent, the spouse's legal guardian may
give the spouse's consent, even if the legal guardian is the Participant. A
spouse's consent will be valid only as to that spouse, and an election deemed
effective without the spouse's consent will be valid only as to the spouse
designated as to that election. A Participant may revoke a prior designation of
someone other than the Surviving Spouse as a primary Beneficiary without the
consent of his or her spouse, and may revoke such a designation an unlimited
number of times.

         7.3.4 A Participant's former spouse will be treated as the spouse or
Surviving Spouse only to the extent provided under a qualified domestic
relations order as described in Code Section 414(p).

                                  ARTICLE VIII

 Special Forms of Benefit and Death Benefit Terms for Certain Participants
 -------------------------------------------------------------------------
                                 Prior to 2002
                                 -------------

8.1      Applicability
         -------------

         For periods prior to January 1, 2002, the provisions of this Article
VIII apply, instead of Sections 6.3, 6.4, 7.1, 7.2 and 7.3, to the entire
Account Balance of each Participant who was: (a) a participant in the FMC
Corporation Savings and Investment 401(k) Plan for Bargaining

                                      -32-

<PAGE>

Unit Employees ("FMC Unmatched Plan") immediately before his or her collective
bargaining unit became covered under the FMC Corporation Savings and Investment
("FMC Matched Plan") Plan, and whose account balance in the FMC Unmatched Plan
was transferred to the FMC Matched Plan; or (b) transferred to FMC as part of
its acquisition from Stein, Inc. or Frigoscandia Equipment Holding AB. Sections
6.1, 6.2, 6.5, 6.6 and 6.7 continue to apply to the Account Balances of
Participants described in the preceding sentence, but this Article VIII does not
apply to any other Participant.

8.2    Forms of Benefit for Certain Transferred Participants
       -----------------------------------------------------

       8.2.1 The normal form of benefit for a Participant to whom this Article
VIII applies is the 50% Joint and Survivor-Ten Year Certain Annuity with the
Participant's spouse as the Beneficiary, if the Participant is married on the
Annuity Starting Date. If the Participant is not married on the Annuity Starting
Date, the normal form of benefit is the Life and Ten Year Certain Annuity. If
the Participant fails to make an election under Section 8.4, his or her Account
Balance will be paid in the normal form of benefit. A Participant covered by
this Article VIII who is married on the Annuity Starting Date may elect a
benefit other than the normal form of benefit only if his or her spouse consents
to the election within the time frame and in the manner required by Section 8.4.

       8.2.2 Subject to Sections 8.2.1 and 8.4, and except as otherwise
provided herein, a Participant covered by this Article VIII may elect to have
his or her benefit under this Plan paid in the form of a lump sum distribution
or a fixed dollar annuity purchased on his or her behalf. A Plan annuity is a
fixed dollar annuity if it provides a stream of monthly payments that do not
vary in amount.

       8.2.3 If a Participant to whom this Article VIII applies elects to have
a fixed dollar annuity purchased on his or her behalf, he or she may select any
of forms of annuity described in this Section 8.2.3.

       (a)   Life and Ten Year Certain Annuity: This form of annuity pays the
             Participant a fixed amount each month beginning with the month in
             which the Annuity Starting Date occurs and ending when the
             Participant dies. If the Participant dies before 120 monthly
             payments have been made, payments will continue to the
             Participant's Beneficiary until 120 monthly payments have been made
             to the Participant and Beneficiary under the annuity.

       (b)   Joint and Survivor-Ten Year Certain Annuity: This form of annuity
             pays the Participant a fixed amount each month beginning with the
             month in which the Annuity Starting Date occurs and ending when the
             Participant dies. If the Participant's Beneficiary survives the
             Participant, payments will continue to the Participant's primary
             Beneficiary until the Beneficiary dies. If the Participant and
             Beneficiary both die before 120 monthly payments have been made to
             the Participant and Beneficiary under the annuity, payments will
             continue to the Participant's contingent Beneficiary until 120
             monthly payments in all have been made under the annuity. The
             monthly payment payable to the primary or contingent Beneficiary
             before 120 payments have been made under the annuity

                                      -33-

<PAGE>

             equals the monthly payment made during the Participant's lifetime.
             The monthly payment payable to the primary Beneficiary after 120
             payments have been made under the annuity equals 100% or 50% of the
             monthly payment made during the Participant's lifetime, as
             specified in the Participant's election. Both the primary and
             contingent Beneficiaries must be named at the time this annuity is
             elected.

       (c)   Period Certain Annuity: This form of annuity pays the Participant a
             fixed amount each month beginning with the month in which the
             Annuity Starting Date occurs and ending when the specified number
             of monthly payments have been made to the Participant and, if he or
             she dies before receiving the specified number of payments, to the
             Participant's Beneficiary. The Participant may specify 60, 120 or
             180 monthly payments. The Participant specifies the number of
             monthly payments and names his or her Beneficiary at the time he or
             she elects the annuity.

       (d)   Other: This form of payment includes any other alternative form of
             distribution, including installment distributions, provided for by
             the Funding Agent. Notwithstanding the foregoing, a Participant may
             not elect any form of distribution providing only for the payment
             of interest or income earned on his or her Accounts.

       8.2.4 An annuity under this Plan must provide that payments will be made
over a period no longer than the life of the Participant, the lives of the
Participant and his or her Beneficiary, the Participant's life expectancy or the
life expectancy of the Participant and his or her Beneficiary. A Participant to
whom this Article VIII applies may not elect any form of annuity providing
monthly payments to a Beneficiary who is other than his or her spouse, unless
the amount distributed each year equals or exceeds the quotient obtained by
dividing the Participant's Account Balances by the divisor determined under
Department of Treasury Regulation Section 1.401(a)(9)-2. Further, the amount of
the monthly payment made to a Beneficiary cannot under any circumstances be
larger than the amount of the monthly payment made to the Participant.

8.3    Change in Form, Timing or Medium of Benefit Payment for Certain
       ---------------------------------------------------------------
Transferred Participants
------------------------

       Any former Employee or former employee of FMC who is a Participant to
whom this Article VIII applies and who has chosen to defer payment of his or her
Account Balance may request a change in the form, timing or medium in which his
or her Account Balances will be paid, so long as the revised election conforms
to Sections 8.2 through 8.4. Once payments have begun, no Participant may change
the form, timing or medium of payment of his or her Account Balance.

8.4    Waiver of Normal Form of Benefit for Certain Transferred Participants
       ---------------------------------------------------------------------

       8.4.1 The Account Balance of a Participant to whom this Article VIII
applies will be distributed in the normal form of benefit, regardless of what
form of benefit the Participant chooses, unless the Participant makes an
effective waiver under this Section 8.4 and, if the

                                      -34-

<PAGE>

Participant is married on the Annuity Starting Date, unless the Participant's
spouse consents to the Participant's choice of another form of benefit in the
manner described in this Section 8.4. No sooner than 30, and no more than 90,
days before the Annuity Starting Date, the Administrator will provide the
Participant with a written explanation of:

       (a)   the terms and conditions of the normal form of benefit;

       (b)   the Participant's right to waive the normal form of benefit and the
             effect of waiving the normal form of benefit;

       (c)   the right of the Participant's spouse to consent or withhold his or
             her consent to the Participant's choice of another form of benefit;
             and

       (d)   the Participant's right to revoke a waiver of the normal form of
             benefit, and the effect of revoking the waiver.

A Participant may revoke his or her waiver of the normal form of benefit at any
time before the payment begins, without his or her spouse's consent. For
purposes of the previous sentence, if the Participant's Account Balance is to be
paid in the form of an annuity, payment will be deemed to begin when the annuity
has been purchased.

       8.4.2 A Participant's waiver of the normal form of benefit will be
effective only if:

       (a)   the Participant's spouse consents in writing to the waiver;

       (b)   the waiver includes an election of a form of benefit that cannot be
             changed without the spouse's consent, or the spouse's consent
             specifically permits the Participant to make other elections of
             forms of benefit;

       (c)   the spouse's consent acknowledges the effect of the waiver; and

       (d)   the spouse's consent is witnessed by a notary public or the
             Administrator.

Spousal consent to the Participant's waiver of the normal form of benefit is not
necessary if the Participant establishes to the satisfaction of a Plan
representative that the Participant does not have a spouse, or that the
Participant's spouse cannot be located. Spousal consent is also unnecessary if
the Participant produces a court order to the effect that the Participant is
legally separated from his or her spouse or has been abandoned by the spouse,
within the meaning of the law of the Participant's state of residence, unless a
qualified domestic relations order requires otherwise. If the Participant's
spouse is legally incompetent to give consent, the spouse's legal guardian may
give the spouse's consent, even if the legal guardian is the Participant. A
spouse's consent will be valid only as to that spouse, and an election deemed
effective without the spouse's consent will be valid only as to the spouse
designated as to that election.

       8.4.3 Notwithstanding the foregoing, the first payment of the
Participant's Account Balance may be made as early as seven days after the
Participant makes an affirmative election to receive his or her Account Balance
in a particular form of payment, even if that means the Participant has fewer
than 30 days to decide on a form of payment, if the Annuity Starting Date

                                      -35-

<PAGE>

is after the date of the Participant's affirmative election and, if the
Participant is married on the Annuity Starting Date, the Participant's spouse
consents to the form of payment in the manner required by Section 8.4.2.

       8.4.4 If the Administrator believes that any spouse might, under the law
of any jurisdiction, have any interest in any benefit that might become payable
to a Participant, the Administrator may, as a condition precedent to the
Participant's making any distribution or withdrawal election, require a written
release or releases, or other documents that it believes are necessary,
desirable, or appropriate to prevent or avoid any conflict or multiplicity of
claims regarding payment of any Plan benefits.

8.5    Payment of Account Balances of Certain Transferred Participants Who Die
       -----------------------------------------------------------------------
Before Payment Begins
---------------------

       8.5.1 If a Participant to whom this Article VIII applies dies before
payment of his or her Account Balance has begun, 50% of the Participant's
Account Balance will be paid to his or her Surviving Spouse in the form of a
life annuity, and the remainder will be paid to his or her Surviving Spouse in
the form of a lump sum within 90 days after the Administrator receives notice of
the Participant's death. If the Participant has no Surviving Spouse, the
Participant's Account Balance will be paid to his or her Beneficiary in the form
of a lump sum within 90 days after the Administrator receives notice of the
Participant's death.

       8.5.2 The Participant may choose a form of benefit other than the life
annuity for the 50% of his or her Account Balance that will be paid to the
Surviving Spouse, so long as the Participant's election meets the requirements
of Section 8.7 and his or her Spouse consents in the time and manner required by
Section 8.7. The Participant may also designate a Beneficiary other than his or
her Surviving Spouse as the primary Beneficiary to receive some or all of his or
her Account Balance, so long as the Surviving Spouse consents to the designation
in the time and manner required by Section 8.7.

       8.5.3 Unless the Participant has chosen a form of benefit for his or her
Beneficiary or Surviving Spouse, the Beneficiary or Surviving Spouse may choose
to have any amounts payable to him or her paid in any of the forms of benefit
described under Section 8.2 other than the Joint and Survivor-Ten Year Certain
Annuity. Payments to a Surviving Spouse must begin no later than the April 1
following the year in which the Participant would have reached age 70-1/2, and
payments to a Beneficiary who is not the Surviving Spouse must begin no later
than one year after the Participant's death. Amounts payable to a Beneficiary or
Surviving Spouse must be made within five years after the Participant's death,
or over a period not exceeding the life or life expectancy of the Surviving
Spouse. A Participant's Surviving Spouse who chooses to waive his or her right
to receive 50% of the Participant's Account Balances in the form of a life
annuity must waive the right in the time and manner described in Section 8.7.

       8.5.4 Notwithstanding Section 8.5.3 above, if at the time the Participant
dies his or her Account Balance does not exceed $5,000 the Account will be
distributed in the form of a single sum payment. In addition, if more than one
Beneficiary is concurrently entitled to receive annuity payments, or if the
monthly annuity payment to any Beneficiary would be less than $50 (or another
amount established from time to time by the Administrator), the Administrator
may

                                      -36-

<PAGE>

choose to pay the value of the annuity in a single sum, so long as the single
sum would not exceed the dollar limit of the previous sentence.

8.6    Failure to Name a Beneficiary for Certain Transferred Participants
       ------------------------------------------------------------------

       If a Participant to whom this Article VIII applies fails to name a
Beneficiary and dies before payment of his or her Account Balance begins, or if
no designated Beneficiary survives the Participant, the Administrator will pay
any amounts due after the Participant's death to the Participant's Surviving
Spouse or, if there is no Surviving Spouse, to the Participant's surviving
children in equal shares. If the Participant leaves behind no Surviving Spouse
or surviving children, the Administrator will pay any amounts then due to the
Participant's estate.

8.7    Waiver of Preretirement Survivor Annuity for Certain Transferred
       ----------------------------------------------------------------
Participants
------------

       8.7.1 A Participant to whom this Article VIII applies may designate
someone other than his or her Surviving Spouse as a primary Beneficiary to
receive any portion of his or her Account Balance payable after his or her
death, or the Participant or his or her Surviving Spouse may choose a form of
benefit other than the life annuity for the 50% of the Account Balances that
will automatically be paid to the Surviving Spouse as a life annuity only if the
designation or election meets the requirements of this Section 8.7 outlined
below.

       8.7.2 The Administrator will provide each Participant with a written
explanation of:

       (a)   the 50% preretirement life annuity payable to the Participant's
             Surviving Spouse;

       (b)   the Participant's right to waive that annuity and the effect of
             such a waiver;

       (c)   the right of the Participant's spouse to the 50% preretirement life
             annuity and the effect of waiving that right; and

       (d)   the Participant's right to revoke a previous waiver and the effect
             of such a revocation;

       (e)   the right of the Participant to name someone other than his or her
             Surviving Spouse as a Beneficiary;

       (f)   the right of the Participant's spouse to be named as the primary
             Beneficiary for all of the Participant's Account Balance and the
             effect of waiving that right; and

       (g)   the Participant's right to revoke a previous designation of someone
             other than the Surviving Spouse as a Beneficiary, and the effect of
             such a revocation.

The Administrator will provide the above explanation to the Participant during
the period that begins on the first day of the Plan Year in which the
Participant reaches age 32 and ends on the last day of the Plan Year in which
the Participant reaches age 34. If a Participant first becomes a Participant
after the start of that period, the Administrator will provide the explanation
no later than the end of the second Plan Year after the Participant first
becomes a Participant.

                                      -37-

<PAGE>

       8.7.3 A designation of someone other than the Surviving Spouse as a
primary Beneficiary, or the election of a form of benefit other than the 50%
preretirement life annuity will be effective only if it is made in writing and
consented to by the Participant's spouse, with the spouse's consent witnessed by
a notary public or the Administrator. Moreover, the election must be made during
the period that begins on the first day of the Plan Year in which the
Participant reaches age 35 (or, if earlier, the date the Participant separates
from service) and ends on the date of the Participant's death. Any subsequent
change of Beneficiary to an individual who is not the Participant's Surviving
Spouse must also be in writing and consented to by the Participant's spouse,
with the spouse's consent witnessed by a notary public or the Administrator.
Spousal consent is not necessary if the Participant establishes to the
satisfaction of a Plan representative that the Participant does not have a
spouse, or that the Participant's spouse cannot be located. Spousal consent is
also unnecessary if the Participant produces a court order to the effect that
the Participant is legally separated from his or her spouse or has been
abandoned by the spouse, within the meaning of the law of the Participant's
state of residence, unless a qualified domestic relations order requires
otherwise. If the Participant's spouse is legally incompetent to give consent,
the spouse's legal guardian may give the spouse's consent, even if the legal
guardian is the Participant. A spouse's consent will be valid only as to that
spouse, and an election deemed effective without the spouse's consent will be
valid only as to the spouse designated as to that election. A Participant may
revoke a prior waiver of the 50% preretirement life annuity or a prior
designation of someone other than the Surviving Spouse as a primary Beneficiary
without the consent of his or her spouse, and may revoke such a waiver or
designation an unlimited number of times.

       8.7.4 A Participant's former spouse will be treated as the spouse or
Surviving Spouse only to the extent provided under a qualified domestic
relations order as described in Code Section 414(p).

                                   ARTICLE IX

                                   Fiduciaries
                                   -----------

9.1    Named Fiduciaries
       -----------------

       9.1.1 The Company is the Plan sponsor and a "named fiduciary," as that
term is defined in ERISA Section 402(a)(2), with respect to control over and
management of the Plan's assets only to the extent that it (a) appoints the
members of the Committee which administers the Plan at the Administrator's
direction; (b) delegates its authorities and duties as "plan administrator" (as
defined under ERISA) to the Committee; and (c) continually monitors the
performance of the Committee.

       9.1.2 The Company as Administrator, and the Committee, which administers
the Plan at the Administrator's direction, are "named Fiduciaries" of the Plan,
as that term is defined in ERISA Section 402(a)(2), with authority to control
and manage the operation and administration of the Plan. The Administrator is
also the "administrator" and "plan administrator" of the Plan, as those terms
are defined in ERISA Section 3(16)(A) and Code Section 414(g), respectively.

                                      -38-

<PAGE>

       9.1.3 The Trustee is a "named fiduciary" of the Plan, as that term is
defined in ERISA Section 402(a)(2), with authority to manage and control all
Trust assets, except to the extent that authority is allocated under the Plan
and Trust to the Administrator or is delegated to an Investment Manager, an
insurance company, or the Plan Participants at the direction of the
Administrator or the Committee.

       9.1.4 The Company, Committee, Administrator and Trustee are the only
named fiduciaries of the Plan.

9.2    Employment of Advisers
       ----------------------

       A named fiduciary, and any fiduciary appointed by a named fiduciary, may
employ one or more persons to render advice regarding any of the named
fiduciary's or fiduciary's responsibilities under the Plan.

9.3    Multiple Fiduciary Capacities
       -----------------------------

       Any named fiduciary and any other fiduciary may serve in more than one
fiduciary capacity with respect to the Plan.

9.4    Payment of Expenses
       -------------------

       All Plan expenses, including expenses of the Administrator, the
Committee, the Trustee, any Investment Manager and any insurance company, will
be paid by the Trust Fund, unless a Participating Employer elects to pay some or
all of those expenses. All or a portion of the recordkeeping costs or charges
imposed or incurred (if any) in maintaining the Plan will be charged on a per
capita basis to the Account of each Participant. In addition, all charges
imposed or incurred (if any) for an Investment Fund or a transfer between
Investment Funds will be charged to the Account of the Participant directing
that investment. In addition, all charges imposed or incurred for a Participant
loan will be charged to the Account of the Participant requesting the loan.

9.5    Indemnification
       ---------------

       To the extent not prohibited by state or federal law, each Participating
Employer agrees to, and will indemnify and save harmless the Administrator, any
past, present, additional or replacement member of the Committee, and any other
Employee, officer or director of that Participating Employer, from all claims
for liability, loss, damage (including payment of expenses to defend against any
such claim) fees, fines, taxes, interest, penalties and expenses which result
from any exercise or failure to exercise any responsibilities with respect to
the Plan, other than willful misconduct or willful failure to act.

                                      -39-

<PAGE>

                                    ARTICLE X

                               Plan Administration
                               -------------------

10.1   Powers, Duties and Responsibilities of the Administrator and the
       ----------------------------------------------------------------
Committee
---------

       10.1.1 The Administrator and the Committee have full discretion and power
to construe the Plan and to determine all questions of fact or interpretation
that may arise under it. An interpretation of the Plan or determination of
questions of fact regarding the Plan by the Administrator or Committee will be
conclusively binding on all persons interested in the Plan.

       10.1.2 The Administrator and the Committee have the power to promulgate
such rules and procedures, to maintain or cause to be maintained such records
and to issue such forms as they deem necessary or proper to administer the Plan.

       10.1.3 Subject to the terms of the Plan, the Administrator and/or the
Committee will determine the time and manner in which all elections authorized
by the Plan must be made or revoked.

       10.1.4 The Administrator and the Committee have all the rights, powers,
duties and obligations granted or imposed upon them elsewhere in the Plan.

       10.1.5 The Administrator and the Committee have the power to do all other
acts in the judgment of the Administrator or Committee necessary or desirable
for the proper and advantageous administration of the Plan.

       10.1.6 The Administrator and the Committee will exercise all of their
responsibilities in a uniform and nondiscriminatory manner.

10.2   Investment Powers, Duties and Responsibilities of the Administrator and
       -----------------------------------------------------------------------
the Committee
-------------

       10.2.1 The Administrator and the Committee have the power to make and
deal with any investment of the Trust in any manner it deems advisable and which
is consistent with the Plan. Notwithstanding the foregoing, the power to make
and deal with Trust investments does not extend to any assets subject to the
direction and control of Plan Participants as described in Section 10.3.2.

       10.2.2 The Administrator and/or the Committee will establish and carry
out a funding policy and method consistent with the objectives of the Plan and
the requirements of ERISA.

       10.2.3 The Administrator and the Committee have the power to direct that
assets of the Trust be held in a trust or a master trust consisting of assets of
plans maintained by a Participating Employer that are qualified under Code
Section 401(a).

                                      -40-

<PAGE>

10.3 Investment of Accounts
     ----------------------

     10.3.1 The Administrator or, as delegated by the Administrator, the
Committee, may establish such different Investment Funds as it from time to time
determines to be necessary or advisable for the investment of Participants'
Accounts, including Investment Funds pursuant to which Accounts can be invested
in "qualifying employer securities," as defined in Part 4 of Title I of ERISA.
Each Investment Fund will have the investment objective or objectives
established by the Administrator or Committee. Except to the extent investment
responsibility is expressly reserved in another person, the Administrator or the
Committee, in its sole discretion, will determine what percentage of the Plan
assets is to be invested in qualifying employer securities. The percentage
designated by the Administrator can exceed ten percent of the Plan's assets, up
to a maximum of all of the Plan's assets.

     10.3.2 Except as provided in Section 10.3.3, the Administrator or, as
delegated by the Administrator, the Committee, may in its sole discretion permit
Participants to determine the portion of their Accounts that will be invested in
each Investment Fund. The frequency with which a Participant may change his or
her investment election concerning future Pre-Tax Contributions or his or her
existing Account will be governed by uniform and nondiscriminatory rules
established by the Administrator or the Committee. To the extent permitted under
ERISA, the Plan is intended to comply with and be governed by Section 404(c) of
ERISA.

     10.3.3 Notwithstanding Section 10.3.2, Company Contributions must be
invested in the Company Stock Fund, or, for periods prior to the Distribution
Date, the FMC Stock Fund and may not be invested in any other Investment Fund.
Effective as of the Distribution Date, a Participant may transfer any amounts
out of the FMC Stock Fund. Effective as of the Distribution Date, no Participant
may make contributions to or transfers to the FMC Stock Fund.

10.4 Valuation of Accounts
     ---------------------

     A Participant's Accounts will be revalued at fair market value on each
Valuation Date. On each Valuation Date, the earnings and losses of the Trust
will be allocated to each Participant's Account in the ratio that his or her
total Account Balance bears to all Account Balances. Notwithstanding the
foregoing, if the Administrator or Committee establishes Investment Funds
pursuant to Section 10.3, the earnings and losses of the particular Investment
Funds will be allocated in the ratio that the portion of each Participant's
Account Balance invested in a particular Investment Fund bears to the total
amount invested in that fund. If and to the extent the rules of any Investment
Fund require a different method of valuation, those rules will be followed.

10.5 The Insurance Company
     ---------------------

     The Administrator or the Committee may appoint one or more insurance
companies as Funding Agents, and may purchase insurance contracts, annuity
contracts or policies from one or more insurance companies with Plan assets.
Neither the Administrator nor the Committee, nor any other Plan fiduciary will
be liable for any act or omission of an insurance company with respect to any
duties delegated to any insurance company.

                                       -41-

<PAGE>

10.6 Compensation
     ------------

     Each person providing services to the Plan will be paid such reasonable
compensation as is from time to time agreed upon between the Company and that
service provider, and will have his, her or its expenses reimbursed.
Notwithstanding the foregoing, no person who is an Employee will be paid any
compensation for his or her services to the Plan.

10.7 Delegation of Responsibility
     ----------------------------

     The Administrator and the Committee may designate by written instrument one
or more actuaries, accountants or consultants as fiduciaries to carry out, where
appropriate, their administrative responsibilities, including their fiduciary
duties. The Committee may from time to time allocate or delegate to any
subcommittee, member of the Committee and others, not necessarily employees of
the Company, any of its duties relative to compliance with ERISA, administration
of the Plan and other related matters, including those involving the exercise of
discretion. The Company's duties and responsibilities under the Plan will be
carried out by its directors, officers and employees, acting on behalf of and in
the name of the Company in their capacities as directors, officers and
employees, and not as individual fiduciaries. No director, officer or employee
of the Company will be a fiduciary with respect to the Plan unless he or she is
specifically so designated and expressly accepts such designation.

10.8 Committee Members
     -----------------

     The Committee will consist of at least three people, who need not be
directors, and will be appointed by the Chief Executive Officer of the Company.
Any Committee member may resign and the Chief Executive Officer may remove any
Committee member, with or without cause, at any time. A majority of the members
of the Committee will constitute a quorum for the transaction of business, and
the act of a majority of the Committee members at a meeting at which a quorum is
present will be an act of the Committee. The Committee can act by written
consent signed by all of its members. Any member of the Committee who is an
Employee cannot receive compensation for his or her services for the Committee.
No Committee member will be entitled to act on or decide any matter relating
solely to his or her status as a Participant.

                                   ARTICLE XI

                             Appointment of Trustee
                             ----------------------

     The Committee or its authorized delegate will appoint the Trustee and
either may remove it. The Trustee accepts its appointment by executing the trust
agreement. A Trustee will be subject to direction by the Committee or its
authorized delegate or, to the extent specified by the Company, by an Investment
Manager or other Funding Agent, and will have the degree of discretion to manage
and control Plan assets specified in the trust agreement. Neither the
Administrator nor the Committee, nor any other Plan fiduciary will be liable for
any act or omission to act of a Trustee, as to duties delegated to the Trustee.
Any Trustee appointed under this Article XI will be an institution.

                                       -42-

<PAGE>

                                   ARTICLE XII

                          Plan Amendment or Termination
                          -----------------------------

12.1 Plan Amendment or Termination
     -----------------------------

     The Company may amend, modify or terminate this Plan at any time by
resolution of its Board or by resolution of or other action recorded in the
minutes of the Administrator or the Committee. Execution and delivery by the
Chairman of the Board, the President, any Vice President of the Company or the
Committee of an amendment to the Plan is conclusive evidence of the amendment,
modification or termination.

12.2 Limitations on Plan Amendment
     -----------------------------

      No Plan amendment can:

     (a)  authorize any part of the Trust Fund to be used for, or diverted to,
          purposes other than the exclusive benefit of Participants or their
          Beneficiaries;

     (b)  decrease the accrued benefits of any Participant or his or her
          Beneficiary under the Plan; or

     (c)  except to the extent permitted by law, eliminate or reduce an early
          retirement benefit or retirement-type subsidy (as defined in Code
          Section 411) or an optional form of benefit with respect to service
          prior to the date the amendment is adopted or effective, whichever is
          later.

12.3 Right to Terminate Plan or Discontinue Contributions
     ----------------------------------------------------

     The Participating Employers intend and expect to continue this Plan in
effect and to make the contributions provided for in this Plan. However, the
Company reserves the right to terminate the Plan at any time in the manner set
forth in Section 12.1. In addition, each Participating Employer reserves the
right to completely discontinue contributions to the Plan for its Employees at
any time. Upon termination of the Plan, each affected Participant's Account
Balance will be vested and nonforfeitable and the Trust will continue until the
Trust Fund has been distributed.

12.4 Bankruptcy
     ----------

     If the Company is ever judicially declared bankrupt or insolvent, and no
provisions to continue the Plan are made in the bankruptcy or insolvency
proceeding, the Plan will, to the extent permissible under federal bankruptcy
law, be completely terminated.

                                       -43-

<PAGE>

                                  ARTICLE XIII

                            Miscellaneous Provisions
                            ------------------------

13.1 Subsequent Changes
     ------------------

     All benefits to which any Participant, Surviving Spouse or Beneficiary may
be entitled under this Plan will be determined under the Plan as in effect when
the Participant ceases to be an Eligible Employee, and will not be affected by
any subsequent change in the provisions of the Plan, unless either the
Participant again becomes an Eligible Employee or the subsequent change
expressly applies to the Participant.

13.2 Merger or Transfer of Assets
     ----------------------------

     13.2.1 Neither the merger or consolidation of a Participating Employer with
any other person, nor the transfer of the assets of a Participating Employer to
any other person, nor the merger of the Plan with any other plan will constitute
a termination of the Plan.

     13.2.2 The Plan may not merge or consolidate with, or transfer any assets
or liabilities to, any other plan, unless each Participant would (if the Plan
then terminated) receive a benefit immediately after the merger, consolidation
or transfer which is equal to or greater than the benefit he or she would have
been entitled to receive immediately before the merger, consolidation or
transfer (if the Plan had then terminated).

13.3 Benefits Not Assignable
     -----------------------

     13.3.1 A Participant's Account Balance may not be assigned or alienated
either voluntarily or involuntarily.

     13.3.2 Notwithstanding the foregoing, a Participant may pledge his or her
Pre-Tax Account as security for a loan under Section 6.7. In addition, the
Administrator or Committee will comply with the terms of any qualified domestic
relations order, as defined in Code Section 414(p). Notwithstanding any other
provision of the Plan, the Funding Agent has all powers that would otherwise be
assigned to the Administrator, regarding the interpretation of and compliance
with qualified domestic relations orders, including the power make and enforce
rules regarding segregations of or holds on a Participant's Account to comply
with a qualified domestic relations order, or when a domestic relations order is
reasonably expected, or is under examination of its status.

     13.3.3 The prohibition of Section 13.3.1 will not apply to any offset of a
Participant's Account Balance against an amount the Participant is ordered or
required to pay to the Plan under a judgment, order, decree or settlement
agreement that meets the requirements of this Section 13.3.3. The requirement to
pay must arise under a judgment of conviction for a crime involving the Plan,
under a civil judgment (including a consent order or decree) entered by a court
in an action brought in connection with a violation (or alleged violation) of
part 4 of subtitle B of title I of ERISA, or pursuant to a settlement agreement
between the Secretary of Labor and the Participant in connection with a
violation (or alleged violation) of that part 4. In

                                       -44-

<PAGE>

addition, the judgment, order, decree or settlement agreement must expressly
provide for the offset of all or part of the amount that must be paid to the
Plan against the Participant's Account Balance.

13.4 Exclusive Benefit of Participants
     ---------------------------------

     Notwithstanding any other provision of the Plan, no part of the Trust Fund
must ever be used for, or diverted to, any purpose other than the exclusive
providing benefits to Participants and their Beneficiaries and defraying the
reasonable expenses of the Plan, except that, upon the direction of the
Administrator:

     (a)  any contribution made by a Participating Employer by a mistake of fact
          will be returned within one year after payment of the contribution;

     (b)  any contribution made by a Participating Employer that was conditioned
          upon its deductibility shall be returned to the extent disallowed as a
          deduction under Code Section 404 within one year after the deduction
          is disallowed; and

     (c)  any contribution that was initially conditioned on the Plan's
          satisfying the requirements of Code Section 401(a) will be returned to
          the Participating Employer who made it, if the Plan is initially
          determined not to satisfy the requirements of Code Section 401(a).

     Any amount a Participating Employer seeks to recover under paragraph (a) or
(b) will be reduced by the amount of any losses attributable to it, but will not
be increased by the amount of any earnings attributable to it.

13.5 Benefits Payable to Minors, Incompetents and Others
     ---------------------------------------------------

     If any benefit is payable to a minor, an incompetent, or a person otherwise
under a legal disability, or to a person the Administrator reasonably believes
to be physically or mentally incapable of handling and disposing of his or her
property, whether because of his or her advanced age, illness, or other physical
or mental impairment, the Administrator has the power to apply all or any part
of the benefit directly to the care, comfort, maintenance, support, education,
or use of the person, or to pay all or any part of the benefit to the person's
parent, guardian, committee, conservator, or other legal representative,
wherever appointed, to the individual with whom the person is living or to any
other individual or entity having the care and control of the person. The Plan,
the Administrator and any other Plan fiduciary will have fully discharged their
responsibilities to the Participant, Surviving Spouse or Beneficiary entitled to
a payment by making payment under the preceding sentence.

13.6 Plan Not A Contract of Employment
     ---------------------------------

     The Plan is not a contract of Employment, and the terms of Employment of
any Employee will not be affected in any way by the Plan or any related
instruments, except as specifically provided in the Plan or related instruments.

                                       -45-

<PAGE>

13.7 Source of Benefits
     ------------------

     Plan benefits wiill be paid or provided for solely from the Trust or
applicable insurance or annuity contracts, and the Participating Employers
assume no liability for Plan benefits.

13.8 Proof of Age and Marriage
     -------------------------

     Participants and Beneficiaries must furnish proof of age and marital status
satisfactory to the Administrator or Committee when and if the Administrator or
Committee reasonably requests it. The Administrator or Committee may delay the
payment of any benefits under the Plan until all pertinent information regarding
age and marital status has been presented to it, and then, if appropriate, make
payment retroactively.

13.9 Controlling Law
     ---------------

     The Plan is intended to qualify under Code Section 401(a) and to comply
with ERISA, and its terms will be interpreted accordingly. If any Plan provision
is subject to more than one construction, the ambiguity will be resolved in
favor of the interpretation or construction consistent with that intent.
Similarly, if there is a conflict between any Plan provisions, or between any
Plan provision and any Plan administrative form submitted to the Administrator,
the Plan provisions necessary to retain qualified status under Code Section
401(a) will govern. Otherwise, to the extent not preempted by ERISA or as
expressly provided herein, the laws of the State of Delaware (other than its
conflict of laws provisions) will control the interpretation and performance of
the Plan.

13.10 Income Tax Withholding
      ----------------------

     The Administrator or Committee may direct that any amounts necessary to
comply with applicable employment tax law be withheld from any payment due under
this Plan.

13.11 Claims Procedure
      ----------------

     13.11.1 Any application for benefits under the Plan and all inquiries
concerning the Plan shall be submitted to the Company at such address as may be
announced to Participants from time to time. Applications for benefits shall be
in writing on the form prescribed by the Company and shall be signed by the
Participant or, in the case of a benefit payable after the death of the
Participant, by the Participant's Surviving Spouse or Beneficiary, as the case
may be.

     13.11.2 The Company shall give written notice of its decision on any
application to the applicant within 90 days. If special circumstances require a
longer period of time the Company shall so notify the applicant within 90 days,
and give written notice of its decision to the applicant within 180 days after
receiving the application. In the event any application for benefits is denied
in whole or in part, the Company shall notify the applicant in writing of the
right to a review of the denial. Such written notice shall set forth, in a
manner calculated to be understood by the applicant, specific reasons for the
denial, specific references to the Plan provisions on which the denial is based,
a description of any information or material necessary to

                                       -46-

<PAGE>

perfect the application, an explanation of why such material is necessary and an
explanation of the Plan's review procedure.

     13.11.3 The Company shall appoint a "Review Panel," which shall consist of
three or more individuals who may (but need not) be employees of the Company.
The Review Panel shall be the named fiduciary that has the authority to act with
respect to any appeal from a denial of benefits under the Plan, and shall hold
meetings at least quarterly, as needed.

     13.11.4 Any person (or his authorized representative) whose application for
benefits is denied in whole or in part may appeal the denial by submitting to
the Review Panel a request for a review of the application within 60 days after
receiving written notice of the denial. The Company shall give the applicant or
such representative an opportunity to review, by written request, pertinent
materials (other than legally privileged documents) in preparing such request
for review. The request for review shall be in writing and addressed as follows:
"Review Panel of the Employee Welfare Benefits Plan Committee, 200 East Randolph
Drive, Chicago, Illinois 60601." The request for review shall set forth all of
the grounds on which it is based, all facts in support of the request and any
other matters which the applicant deems pertinent. The Review Panel may require
the applicant to submit such additional facts, documents or other material as it
may deem necessary or appropriate in making its review.

     13.11.5 The Review Panel shall act upon each request for review within 60
days after receipt thereof. If special circumstances require a longer period of
time the Review Panel shall so notify the applicant within 60 days, and give
written notice of its decision to the applicant within 120 days after receiving
the request for review. The Review Panel shall give notice of its decision to
the Company and to the applicant in writing. In the event the Review Panel
confirms the denial of the application for benefits in whole or in part, such
notice shall set forth in a manner calculated to be understood by the applicant,
the specific reasons for such denial and specific references to the Plan
provisions on which the decision is based.

     13.11.6 The Review Panel shall establish such rules and procedures,
consistent with ERISA and the Plan, as it may deem necessary or appropriate in
carrying out its responsibilities under this Section 13.11.

     13.11.7 No legal or equitable action for benefits under the Plan shall be
brought unless and until the claimant (a) has submitted a written application
for benefits in accordance with Section 13.10.1, (b) has been notified by the
Company that the application is denied, (c) has filed a written request for a
review of the application in accordance with Section 13.10.4 and (d) has been
notified in writing that the Review Panel has affirmed the denial of the
application; provided that legal action may be brought after the Review Panel
has failed to take any action on the claim within the time prescribed in Section
13.11.5. A claimant may not bring an action for benefits in accordance with this
Section 13.11.7 later than 90 days after the Review Panel denies the claimant's
application for benefits.

                                       -47-

<PAGE>

13.12 Participation in the Plan by An Affiliate
      -----------------------------------------

      13.12.1 With the consent of the Board or an authorized delegate of the
Board, any Affiliate, by appropriate action of its board of directors, a general
partner or the sole proprietor, as the case may be, may adopt the Plan. Each
Affiliate will determine the classes of its Employees that will be Eligible
Employees and the amount of its contribution to the Plan on behalf of its
Eligible Employees.

      13.12.2 With the consent of the Board or an authorized delegate of the
Board, a Participating Employer, by appropriate action, may terminate its
participation in the Plan.

      13.12.3 With the consent of the Board or an authorized delegate of the
Board, a Participating Employer, by appropriate action, may withdraw from the
Plan and the Trust. A Participating Employer's withdrawal will be deemed to be
an adoption by that Participating Employer of a plan and trust identical to the
Plan and the Trust, except that all references to the Company will be deemed to
refer to that Participating Employer. At such time and in such manner as the
Administrator directs, the assets of the Trust allocable to Employees of the
Participating Employer will be transferred to the trust deemed adopted by the
Participating Employer.

      13.12.4 A Participating Employer will have no power with respect to the
Plan except as specifically provided herein.

13.13 Action by Participating Employers
      ---------------------------------

      Any action required to be taken by the Company pursuant to any Plan
provisions will be evidenced in the manner set forth in Section 12.1. Any action
required to be taken by a Participating Employer will be evidenced by a
resolution of the Participating Employer's board of directors or an authorized
delegate of that board. Participating Employer action may also be evidenced by a
written instrument executed by any person or persons authorized to take the
action by the Participating Employer's board of directors, any authorized
delegate of that board, or the stockholders. A copy of any written instrument
evidencing the action by the Company or Participating Employer must be delivered
to the secretary or assistant secretary of the Company or Participating
Employer.

13.14 Dividends
      ---------

      Any dividends credited to a group annuity contract between the
Participating Employer and the Funding Agent will be used to provide additional
benefits under the Plan.

                                   ARTICLE XIV

                              Top Heavy Provisions
                              --------------------

14.1  Top Heavy Definitions
      ---------------------

      For purposes of this Article XIV and any amendments to it, the terms
listed in this Section 14.1 have the meanings ascribed to them below.

                                       -48-

<PAGE>

     14.1.1 Aggregate Employer Contributions means the sum of all Company
Contributions and Forfeitures allocated under this Plan for a Matched
Participant, and all employer contributions and forfeitures allocated for the
Matched Participant to all Related Defined Contributions in the Aggregation
group.

     14.1.2 Aggregation Group means the group of plans in a Mandatory
Aggregation Group, if any, that includes the Plan, unless including additional
Related Plans in the group would prevent the Plan for being a Top Heavy Plan, in
which case Aggregation Group means the group of plans in a Permissive
Aggregation Group, if any, that includes the Plan.

     14.1.3 Determination Date means, for a Plan Year, the last day of the
preceding Plan Year. If the Plan is part of an Aggregation Group, the
Determination Date for each other plan will be, for any Plan Year, the
Determination Date for that other plan that falls in the same calendar year as
the Determination Date for the Plan.

     14.1.4 Key Employee means an employee described in Code Section 416(i)(1)
and the regulations promulgated thereunder. Generally, a Key Employee is an
Employee or former Employee who, at any time during the Plan Year containing the
Determination Date or any of the four preceding Plan Years, is:

     (a)  an officer of the Company or an Affiliate with annual Compensation
          greater than 50% of the amount in effect under Code Section
          415(b)(1)(A);

     (b)  one of the ten Employees of the Company and all Affiliates owning (or
          considered to own within the meaning of Code Section 318) the largest
          interests in any of the Company and the Affiliates, but only if the
          Employee has annual Compensation greater than the limitation in effect
          under Code Section 415(c)(1)(A);

     (c)  a five percent owner of the Company or an Affiliate; or

     (d)  a one percent owner of the Company or an Affiliate with annual
          Compensation from the Company and all Affiliates of more than
          $150,000.

For purposes of determining who is a Key Employee, the Plan's definition of
Compensation will be applied by taking into account amounts paid by Affiliates
who are not Participating Employers, as well as amounts paid by Participating
Employers, and without applying the exclusions for amounts paid by a
Participating Employer to cover an Employee's nonqualified deferred compensation
FICA tax obligations and for gross-up payments on such FICA tax payments.

     14.1.5 Mandatory Aggregation Group means each plan (considering the Plan
and Related Plans) that, during the Plan Year that contains the Determination
Date or any of the four preceding Plan Years:

     (a)  had a participant who was a Key Employee; or

                                       -49-

<PAGE>

     (b)      was required to be considered with a plan in which a Key Employee
              participated in order to enable the plan in which the Key Employee
              participated to meet the requirements of Code Section 401(a)(4) or
              410(b).

     14.1.6   Non-key Employee means an Employee or former Employee who is not a
Key Employee.

     14.1.7   Permissive Aggregation Group means the group of plans consisting
of the plans in a Mandatory Aggregation Group with the Plan, plus any other
Related Plan or Plans that, when considered as a part of the Aggregation Group,
does not cause the Aggregation Group to fail to satisfy the requirements of Code
Section 401(a)(4) or 410(b).

     14.1.8   Present Value of Accrued Benefits means, for any Plan Year, an
amount equal to the sum of (a), (b) and (c) for each person who, in the Plan
Year containing the Determination Date, was a Key Employee or a Non-key
Employee.

     (a)      The value of a person's full Account Balance under the Plan, plus
              his or her total account balances under each Related Defined
              Contribution Plan in the Aggregation Group, determined as of the
              valuation date coincident with or immediately preceding the
              Determination Date, adjust for contributions due as of the
              Determination Date, as follows:

              (i)    in the case of a plan not subject to the minimum funding
                     requirements of Code Section 412, by including the amount
                     of any contributions actually made after the valuation but
                     on or before the Determination Date and, in the first plan
                     year of a plan, by including contributions made after the
                     Determination Date that are allocated as of a date in the
                     first plan year; and

              (ii)   in the case of a plan that is subject to the minimum
                     funding requirements of Code Section 412, by including the
                     amount of any contributions that would be allocated as of a
                     date no later than the Determination Date, plus adjustments
                     to those amounts required under applicable rulings, even
                     though those amounts are not yet required to be contributed
                     or allocated (e.g., because they have been waived) and by
                     including the amount of any contributions actually made (or
                     due to be made) after the valuation date but before the
                     expiration of the extended payment period in Code Section
                     412(c)(10).

     (b)      The sum of the actuarial present value of a person's accrued
              benefits under each Related Defined Benefit Plan in the
              Aggregation Group, determined for any person who is employed by a
              Participating Employer on a Determination Date, expressed as a
              benefit commencing at normal retirement date (or, if later, the
              person's attained age). The present value of an accrued benefit
              under a Related Defined Benefit Plan is determined as of the most
              recent valuation date that is within the 12-month period ending on
              the Determination Date.

                                       -50-

<PAGE>

     (c)  The aggregate value of amounts distributed during the plan year that
          includes the Determination Date or any of the four preceding plan
          years, including amounts distributed under a terminated plan that, if
          it had not been terminated, would have been in the Aggregation Group.

     14.1.9 Related Plan means any other defined contribution plan (a "Related
Defined Contribution Plan") or defined benefit plan (a "Related Defined Benefit
Plan") (both as defined in Code Section 415(k), maintained by the Company or an
Affiliate.

     14.1.10 A Super Top Heavy Aggregation Group exists in any Plan Year for
which, as of the Determination Date, the sum of the Present Value of Accrued
Benefits for Key Employees under all plans in the Aggregation Group exceeds 90%
of the sum of the Present Value of Accrued Benefits for all employees under all
plans in the Aggregation Group. In determining the sum of the Present Value of
Accrued Benefits for all employees, the Present Value of Accrued Benefits for
any Non-key Employee who was a Key Employee for any Plan Year preceding the Plan
Year that contains the Determination Date will be excluded.

     14.1.11 Super Top Heavy Plan means the Plan when it is described in the
second sentence of Section 14.2.

     14.1.12 A Top Heavy Aggregation Group exists in any Plan Year for which, as
of the Determination Date, the sum of the Present Value of Accrued Benefits for
Key Employees under all plans in the Aggregation Group exceeds 60% of the sum of
the Present Value of Accrued Benefits for all employees under all plans in the
Aggregation Group. In determining the sum of the Present Value of Accrued
Benefits for all employees, the Present Value of Accrued Benefits for any
Non-key Employee who was a Key Employee for any Plan Year preceding the Plan
Year that contains the Determination Date will be excluded.

     14.1.13 Top Heavy Plan means the Plan when it is described in the first
sentence of Section 14.2.

14.2 Determination of Top Heavy Status
     ---------------------------------

     This Plan is a Top Heavy Plan in any Plan Year in which it is a member of a
Top Heavy Aggregation Group, including a Top Heavy Aggregation Group that
includes only the Plan. The Plan is a Super Top Heavy Plan in any Plan Year in
which it is a member of a Super Top Heavy Aggregation Group, including a Super
Top Heavy Aggregation Group that includes only the Plan.

14.3 Minimum Allocation for Top Heavy Plan
     -------------------------------------

     14.3.1 For any Plan Year that the Plan is a Top Heavy Plan, the sum of the
Company Contributions and Forfeitures allocated to the Accounts of each Matched
Participant who is a Non-key Employee will be at least three percent of the
Matched Participant's Compensation. However, if the sum of the Company
contributions and Forfeitures allocated to the Accounts of each Matched
Participant who is a Key Employee for the Plan Year is less than three percent
of his or her Compensation and this Plan is not required to be included in an
Aggregation Group to enable a defined benefit plan to meet the requirements of
Code Section 401(a)(4) or 410(b), the

                                      -51-

<PAGE>

sum of the Company Contributions and Forfeitures allocated to the Accounts of
each Matched Participant who is a Non-key Employee for the Plan Year will be
equal to the largest percentage of Compensation allocated to the Accounts of any
Matched Participant who is a Key Employee. Notwithstanding the foregoing, no
minimum allocation will be required for any Non-key Employee who participates in
another defined contribution plan subject to Code Section 412 and included with
this Plan in a Mandatory Aggregation Group.

     14.3.2 For any Plan Year when the Plan is a Top Heavy Plan but not a Super
Top Heavy Plan and a Key Employee is a participant in both this Plan and a
defined benefit plan included in a Mandatory Aggregation Group that is top
heavy, the extra minimum allocation will be provided only in this Plan, and by
substituting four percent for three percent, where the latter percentage appears
in Section 14.3.1.

     14.3.3 For any Plan Year that the Plan is a Top Heavy Plan, the minimum
allocations set forth in this Section 14.3 will be allocated to the Accounts of
all Non-key Employees who are Matched Participants and who are employed by the
Company on the last day of the Plan Year, regardless of their service during the
Plan Year, and whether or not they have made contributions of their own to the
Plan.

     14.3.4 In lieu of the above, if a Non-key Employee participates in this
Plan and a Related Defined Benefit Plan included with this Plan in a Mandatory
Aggregation Group that is a Top Heavy Aggregation Group, a minimum allocation of
five percent of Compensation will be provided under this Plan. However, for any
Plan Year when the Plan is a Top Heavy Plan but not a Super Top Heavy Plan and a
Key Employee is a participant in both this Plan and a Related Defined Benefit
Plan included with this Plan in a Mandatory Aggregation Group, seven and
one-half percent will be substituted for five percent where the latter
percentage appears in this Section 14.3.4, and the extra minimum allocation will
be provided only in this Plan.

                                       -52-

<PAGE>

     To record the amendment and restatement of the Plan to read as set forth
herein, the Company has caused its authorized member of the Committee to execute
the same this 28th day of September, 2001, to be effective as of September 28,
2001, except as otherwise expressly provided herein.

                                          FMC TECHNOLOGIES, INC.

                                          By   /s/ Michael W. Murray
                                               ---------------------------------
                                               Member, Employee Welfare Benefits
                                               Plan Committee

                                       -53-

<PAGE>

                                   APPENDIX A

                     Bargaining Units Covered Under the Plan
                     ---------------------------------------

Until otherwise negotiated, the bargaining units whose members are covered by
the Plan, and the effective dates of their coverage, are listed below:
<TABLE>
<CAPTION>
                                        Effective Date             Effective Date of
Name of Bargaining Unit                 of Plan Coverage           FMC Plans Coverage
-----------------------                 ----------------           ------------------
<S>                                     <C>                        <C>

Packaging Systems Division, Green
Bay, Wisconsin, United Steel
Workers, Local 32-6050                  Effective Date             October 1, 1989;
                                                                   Division Sold by FMC
                                                                   June 17, 1998; Account
                                                                   balances remained in FMC
                                                                   Plans

Jetway Systems, Ogden, Utah United
Steel Workers Local 612                 Effective Date            January 1, 1995

Agricultural Machinery Division,
Hoopeston, Illinois, United Paper-
workers International Union, AFL-
C10, CLC, Local 7985                    Effective Date             January 1, 1997

Smith Meter, Inc., Erie, Pennsylvania,
International Union, United Automo-
bile, Aerospace, and Agricultural
Implement Workers of America
Local Union 714                         Effective Date            June 1, 1998

Hawaii Transportation Workers
Union of America                        Effective Date            October 6, 2000
</TABLE>

                                       -54-

<PAGE>

                                   APPENDIX B

                     Bargaining Units Matched Under the Plan
                     ---------------------------------------

Until otherwise negotiated, the bargaining units whose members are entitled to a
Company Contribution under Section 3.4 of the Plan, and the effective dates of
their coverage, are listed below:

<TABLE>
<CAPTION>
                                                                       Effective Date of Eligibility
                                      Effective Date of Eligibility    for FMC Contributions
Name of Bargaining Unit               for Company Contributions        In FMC Matched Plan
-----------------------               -------------------------        ------------------------------
<S>                                   <C>                              <C>
Agricultural Machinery Division,
Hoopeston, Illinois, United Paper-
workers, International Union, AFL-
CIO, CLC, Local 7985                  Effective Date                   January 1, 1997
</TABLE>

                                       -55-

<PAGE>

                                   APPENDIX C

                       Elections Through December 31, 2001
                       -----------------------------------

The following Participants (listed by social security number) who work at the
following locations had deferral and/or contribution elections of less than 2%
under the FMC Plans, and have been grandfathered in those elections under the
Plan through December 31, 2001:

                     50210 Ogden, Utah

                        ###-##-####
                        ###-##-####
                        ###-##-####
                        ###-##-####
                        ###-##-####
                        ###-##-####
                        ###-##-####
                        ###-##-####

                51113 Corpus Christi, Texas

                        ###-##-####

                                       -56-<PAGE>

                                                                  Exhibit 10.8.b

                                 TRUST AGREEMENT

                                     Between

     -----------------------------------------------------------------------

                             FMC TECHNOLOGIES, INC.

                                       And

                        FIDELITY MANAGEMENT TRUST COMPANY

     -----------------------------------------------------------------------

            FMC TECHNOLOGIES, INC. SAVINGS AND INVESTMENT PLAN TRUST

                         Dated as of September 28, 2001

<PAGE>

                                TABLE OF CONTENTS
                                -----------------

<TABLE>
<CAPTION>
Section                                                                     Page
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<S>                                                                         <C>
1    Definitions ........................................................      1
     (a)  Administrator
     (b)  Agreement
     (c)  Available Liquidity
     (d)  Business Day
     (e)  Code
     (f)  Closing Price
     (g)  Confidential Information
     (h)  ERISA
     (i)  Existing Investment Contracts
     (j)  Fidelity
     (k)  Fidelity Mutual Fund
     (l)  FIFO
     (m)  FIIOC
     (n)  FMC Stock
     (o)  FMC Stock Fund
     (p)  FMC Technologies Stock
     (q)  FMC Technologies Stock Fund
     (r)  FPRS
     (s)  Fund Vendor
     (t)  Mil Rate
     (u)  Mutual Fund
     (v)  Named Fiduciary
     (w)  NFSLLC
     (x)  NAV
     (y)  Non-Fidelity Mutual Fund
     (z)  NYSE
     (aa) Participant
     (bb) Participant Recordkeeping Reconciliation Period
     (cc) PIN
     (dd) Plan
     (ee) PAM
     (ff) Reporting Date
     (gg) Specified Hierarchy
     (hh) Spin-Off Date
     (ii) Sponsor
     (jj) Trust
     (kk) Trustee
     (ll) VRS

2    Trust ..............................................................      4

3    Exclusive Benefit and Reversion of Sponsor Contributions. ..........      5
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
Section                                                                     Page
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<S>                                                                         <C>
4    Disbursements ......................................................      5
     (a)  Administrator-Directed Disbursements
     (b)  Participant Withdrawal Requests
     (c)  Limitations

5    Investment of Trust ................................................      5
     (a)  Selection of Investment Options
     (b)  Available Investment Options
     (c)  Participant Direction
     (d)  Mutual Funds
     (e)  Stock
     (f)  Participant Loans
     (g)  Stable Value Investments
     (h)  Participation in U.S. Equity Index Commingled Pool
     (i)  Trustee Powers

6    Recordkeeping and Administrative Services to Be Performed ..........     22
     (a)  General
     (b)  Accounts
     (c)  Inspection and Audit
     (d)  Notice of Plan Amendment
     (e)  Returns, Reports and Information

7    Compensation and Expenses ..........................................     24

8    Directions and Indemnification .....................................     24
     (a)  Identity of Administrator and Named Fiduciary
     (b)  Directions from Administrator
     (c)  Directions from Named Fiduciary
     (d)  Co-Fiduciary Liability
     (e)  Indemnification
     (f)  Survival

9    Resignation or Removal of Trustee ..................................     26
     (a)  Resignation
     (b)  Removal

10   Successor Trustee ..................................................     26
     (a)  Appointment
     (b)  Acceptance
     (c)  Corporate Action

11   Termination ........................................................     26

12   Resignation, Removal, and Termination Notices ......................     27

13   Duration ...........................................................     27

14   Amendment or Modification ..........................................     27

15   Electronic Services ................................................     27

16   Assignment .........................................................     28
</TABLE>

                                       ii

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<TABLE>
<CAPTION>
Section                                                                              Page
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<S>                                                                                  <C>
17   Force Majeure ................................................................    28

18   Confidentiality ..............................................................    28

19   General ......................................................................    29
     (a)  Performance by Trustee, its Agents or Affiliates
     (b)  Entire Agreement
     (c)  Waiver
     (d)  Successors and Assigns
     (e)  Partial Invalidity
     (f)  Insurance
     (g)  Section Headings

20   Governing Law ................................................................    30
     (a)  ERISA Controls
     (b)  Trust Agreement Controls

21   Plan Qualification ...........................................................    30

Schedules
---------

A.   Recordkeeping and Administrative Services ....................................    32

B.   Fees .........................................................................    38

C.   Investment Options ...........................................................    38

D.   Authorized Signers (Administrator) ...........................................    39

E.   Authorized Signers (Named Fiduciary) .........................................    40

F.   Statement of Qualified Status ................................................    41

G.   Existing Investment Contracts ................................................    42

H.   Exchange Guidelines ..........................................................    43

I.   Operational Guidelines for Non-Fidelity Mutual Funds .........................    46

J.   Specified Hierarchy - Available Liquidity Procedures for FMC Stock Fund ......    48

K.   Specified Hierarchy - Available Liquidity Procedures for FMC Technologies
     Stock Fund ...................................................................    49

L.   Investment Guidelines for the MIP II Blend Fund ..............................    50

Appendix
--------

A.   Investment Contract Discloures ...............................................    54
</TABLE>

                                       iii

<PAGE>

          TRUST AGREEMENT, dated as of the twenty-eighth day of September, 2001,
between FMC TECHNOLOGIES, INC., a Delaware corporation, having an office at 200
East Randolph Drive, Chicago, Illinois 60601 (the "Sponsor"), and FIDELITY
MANAGEMENT TRUST COMPANY, a Massachusetts trust company, having an office at 82
Devonshire Street, Boston, Massachusetts 02109 (the "Trustee").

                                   WITNESSETH:

          WHEREAS, the Sponsor is the sponsor of the FMC Technologies, Inc.
Savings and Investment Plan (the "Plan"); and

          WHEREAS, the Sponsor wishes to establish a single trust to hold and
invest assets of the Plan for the exclusive benefit of Participants in the Plan
and their beneficiaries; and

          WHEREAS, the Trustee is willing to hold and invest the aforesaid Plan
assets in trust among several investment options selected by the Named
Fiduciary; and

          WHEREAS, the Sponsor also wishes to have the Trustee perform certain
ministerial recordkeeping and administrative functions under the Plan; and

          WHEREAS, the Trustee is willing to perform recordkeeping and
administrative services for the Plan if the services are ministerial in nature
and are provided within a framework of plan provisions, guidelines and
interpretations conveyed in writing to the Trustee by the Administrator.

          NOW, THEREFORE, in consideration of the foregoing premises and the
mutual covenants and agreements set forth below, the Sponsor and the Trustee
agree as follows:

Section 1. Definitions. The following terms as used in this Trust Agreement have
           -----------
the meaning indicated unless the context clearly requires otherwise:

(a)    "Administrator" shall mean FMC Technologies, Inc., identified in the Plan
        -------------
       document as the administrator of the Plan (within the meaning of section
       3(16)(A) of ERISA).

(b)    "Agreement" shall mean this Trust Agreement, and the Schedules and
        ---------
       Exhibits attached hereto, as the same may be amended and in effect from
       time to time.

(c)    "Available Liquidity" shall mean the amount of short-term investments
        -------------------
       held in the FMC Stock Fund or the FMC Technologies Stock Fund decreased
       by any outgoing cash for expenses then due,

<PAGE>

     payables for loan principal, and obligations for pending stock purchases,
     and increased by incoming cash (such as contributions, exchanges in, loan
     repayments) and to the extent credit is available and allocable to the FMC
     Stock Fund or the FMC Technologies Stock Fund, receivables for pending
     stock sales.

(d)  "Business Day" shall mean each day the New York Stock Exchange is open for
      ------------
     business.

(e)  "Code" shall mean the Internal Revenue Code of 1986, as it has been or may
      ----
     be amended from time to time.

(f)  "Closing Price" shall mean either (1) the closing price of the stock on the
      -------------
     principal national securities exchange on which the FMC Stock or the FMC
     Technologies Stock Fund are traded or, in the case of stocks traded over
     the counter, the last sale price of the day; or, if (1) is unavailable, (2)
     the latest available price as reported by the principal national securities
     exchange on which the Sponsor Stock is traded or, for an over the counter
     stock, the last bid price prior to the close of the New York Stock Exchange
     (generally 4:00 p.m. Eastern time).

(g)  "Confidential Information" shall mean (individually and collectively)
      ------------------------
     proprietary information of the parties to this Trust Agreement, including
     but not limited to, their inventions, confidential information, know how,
     trade secrets, business affairs, prospect lists, product designs, product
     plans, business strategies, finances, fee structures, etc.

(h)  "ERISA" shall mean the Employee Retirement Income Security Act of 1974, as
      -----
     it has been or may be amended from time to time.

(i)  "Existing Investment Contracts" shall mean each investment contract
      -----------------------------
     heretofore entered into by the Sponsor (or any of its subsidiaries or
     affiliates) or any predecessor trustee, and specifically identified on
     Schedule "G" attached hereto.

(j)  "Fidelity" shall mean the Trustee and/or its affiliates.
      --------

(k)  "Fidelity Mutual Fund" shall mean any investment company advised by
      --------------------
     Fidelity Management & Research Company or any of its affiliates.

(l)  "FIFO" shall mean first in first out.
      ----

(m)  "FIIOC" shall mean Fidelity Investments Institutional Operations Company,
      -----
     Inc.

(n)  "FMC Stock" shall mean the common stock of FMC Corporation, a publicly
      ---------
     traded equity security.

                                       2

<PAGE>

(o)    "FMC Stock Fund" shall mean the investment option consisting primarily of
        --------------
       shares of FMC Corporation Stock (defined herein as "FMC Stock") and cash
       or short-term liquid investments.

(p)    "FMC Technologies Stock" shall mean the common stock of FMC Technologies,
        ----------------------
       Inc., a publicly traded equity security.

(q)    "FMC Technologies Stock Fund" shall mean the investment option consisting
        ---------------------------
       primarily of shares of FMC Technologies, Inc. Stock (defined herein as
       "FMC Technologies Stock") and cash or short-term liquid investments.

(r)    "FPRS" shall mean the Fidelity Participant Recordkeeping Systems.
        ----

(s)    "Fund Vendor" shall mean the vendor for each Non-Fidelity Mutual Fund.
        -----------

(t)    "Mil Rate" shall mean the daily accrual for interest rate factor.
        --------

(u)    "Mutual Fund" shall refer both to Fidelity Mutual Funds and Non-Fidelity
        -----------
       Mutual Funds.

(v)    "Named Fiduciary" shall mean FMC Technologies, Inc., a named fiduciary of
        ---------------
       the Plan (within the meaning of section 402(a) of the ERISA).

(w)    "NFSLLC" shall mean National Financial Services LLC., an affiliate of the
        ------
       Trustee.

(x)    "NAV" shall mean net asset value.
        ---

(y)    "Non-Fidelity Mutual Fund" shall mean certain investment companies not
        ------------------------
       advised by Fidelity Management & Research Company or any of its
       affiliates.

(z)    "NYSE" shall mean the New York Stock Exchange.
        ----

(aa)   "Participant" shall mean, with respect to the Plan, any employee, former
        -----------
       employee, or alternate payee with an account under the Plan, which has
       not yet been fully distributed and/or forfeited, and shall include the
       designated beneficiary(ies) with respect to the account of any deceased
       employee, former employee, or alternate payee until such account has been
       fully distributed and/or forfeited.

(bb)   "Participant Recordkeeping Reconciliation Period" shall mean the period
        -----------------------------------------------
       beginning on the date of the initial transfer of assets to the Trust and
       ending on the date of the completion of the reconciliation of Participant
       records.

(cc)   "PIN" shall mean personal identification number.
        ---

                                       3

<PAGE>

(dd)   "Plan" shall mean the FMC Technologies, Inc. Savings and Investment Plan.
        ----

(ee)   "PAM" shall mean the plan administrative manual, which is the set of
        ---
       written guidelines developed by the Trustee and the Sponsor with respect
       to the details of the Plan's administration, which shall be deemed to be
       a direction to and an obligation of the Trustee under this Agreement.

(ff)   "Reporting Date" shall mean the last day of each fiscal quarter of the
        --------------
       Plan and, if not on the last day of a fiscal quarter, the date as of
       which the Trustee resigns or is removed pursuant to Section 9 hereof or
       the date as of which this Agreement terminates pursuant to Section 11
       hereof.

(gg)   "Specified Hierarchy" shall mean the processing order set forth in
        -------------------
       Schedules "J" and "K" that gives precedence to distributions, loans and
       withdrawals, and otherwise on a FIFO basis.

(hh)  "Spin-Off Date" shall mean the date upon which FMC Corporation distributes
       -------------
       its interest in the Sponsor.

(ii)   "Sponsor" shall mean FMC Technologies, Inc., a Delaware corporation, or
        -------
       any successor to all or substantially all of its businesses which, by
       agreement, operation of law or otherwise, assumes the responsibility of
       the Sponsor under this Agreement.

(jj)   "Trust" shall mean the FMC Technologies, Inc. Savings and Investment Plan
        -----
       Trust, being the trust established by the Sponsor and the Trustee
       pursuant to the provisions of this Agreement.

(kk)   "Trustee" shall mean Fidelity Management Trust Company, a Massachusetts
        -------
       trust company and any successor to all or substantially all of its trust
       business as described in Section 10(c). The term Trustee shall also
       include any successor trustee appointed pursuant to Section 10 to the
       extent such successor agrees to serve as Trustee under this Agreement.

(ll)   "VRS" shall mean voice response system.
        ---

Section 2. Trust. The Sponsor hereby establishes the Trust with the Trustee. The
           -----
Trust shall consist of an initial contribution of money or other property
acceptable to the Trustee in its sole discretion, made by the Sponsor or
transferred from a previous trustee under the Plan, such additional sums of
money, FMC Technologies Stock or other property acceptable to the Trustee in its
sole discretion, as shall from time to time be delivered to the Trustee under
the Plan, all investments made therewith and proceeds thereof, and all earnings
and profits thereon, less the payments that are made by the Trustee as provided
herein, without distinction between principal and income. The Trustee hereby
accepts the Trust on the terms and conditions set forth in this Agreement. In
accepting this Trust, the Trustee shall be accountable for the assets received
by it, subject to the terms and conditions of this Agreement. The Trustee shall
maintain

                                       4

<PAGE>

participant level accounts for all Plan Participants and shall account for each
type of money classification as specified on Schedule "A", including, without
limitation, contributions, earnings and losses within each such classification.

Section 3. Exclusive Benefit and Reversion of Sponsor Contributions. Except as
           --------------------------------------------------------
provided under applicable law, no part of the Trust may be used for, or diverted
to, purposes other than the exclusive benefit of the Participants in the Plan or
their beneficiaries or the reasonable expenses of Plan administration.
Disbursements from the forfeiture account may be made as directed by the Sponsor
to offset contributions or reasonable expenses of Plan administration. No assets
of the Plan shall revert to the Sponsor, except as specifically permitted by the
terms of the Plan.

Section 4. Disbursements.
           -------------

         (a)   Administrator-Directed Disbursements. The Trustee shall make
               ------------------------------------
disbursements in the amounts and in the manner that the Administrator directs
from time to time in writing. The Trustee shall have no responsibility to
ascertain such direction's compliance with the terms of the Plan (except to the
extent the terms of the Plan have been communicated to the Trustee in writing)
or of any applicable law or the direction's effect for tax purposes or
otherwise, nor shall the Trustee have any responsibility to see to the
application of any disbursement.

         (b)   Participant Withdrawal Requests. The Sponsor hereby directs that,
               -------------------------------
pursuant to the Plan, a Participant withdrawal request (in-service or full
withdrawal) may be made by the Participant by telephone or such other electronic
means as may be agreed to from time to time by the Sponsor and Trustee, and the
Trustee shall process such request only after the identity of the Participant is
verified by use of a PIN and social security number. The Trustee shall process
such withdrawal in accordance with written guidelines provided by the Sponsor
and documented in the PAM.

         (c)   Limitations. The Trustee shall not be required to make any
               -----------
disbursement in excess of the net realizable value of the assets of the Trust at
the time of the disbursement. The Trustee shall be required to make all
disbursements in accordance with the applicable source and fund withdrawal
hierarchy and as documented in the PAM, unless the Administrator has provided a
written direction to the contrary.

Section 5. Investment of Trust.
           -------------------

         (a)   Selection of Investment Options. The Trustee shall have no
               -------------------------------
responsibility for the selection of investment options under the Trust and shall
not render investment advice to any person in connection with the selection of
such options.

                                       5

<PAGE>

         (b)  Available Investment Options. The Named Fiduciary shall direct the
              ----------------------------
Trustee as to the investment options in which the Trust shall be invested during
the Participant Recordkeeping Reconciliation Period and the investment options
in which Plan Participants may invest following the Participant Recordkeeping
Reconciliation Period. The Named Fiduciary may determine to offer as investment
options only: (i) FMC Stock, (ii) FMC Technologies Stock, (iii) Fidelity Mutual
Funds and Non-Fidelity Mutual Funds (iv) notes evidencing loans to Plan
Participants in accordance with the terms of the Plan, (v) Existing Investment
Contracts, and (vi) collective investment funds maintained by the Trustee for
qualified plans.

The Trustee shall be considered a fiduciary with investment discretion only with
respect to Plan assets (including the proceeds from any Existing Investment
Contracts) that are invested in Existing Investment Contracts as set forth on
Schedule "G" and collective investment funds maintained by the Trustee for
qualified plans.

The investment options initially selected by the Named Fiduciary are identified
on Schedule "C" attached hereto. Upon transfer to the Trust, Plan assets will be
invested in the investment option(s) as directed by the Sponsor. The Named
Fiduciary may add additional investment options with the consent of the Trustee
to reflect administrative considerations and upon mutual amendment of this
Agreement.

         (c)  Participant Direction. As authorized under the Plan, each
              ---------------------
Participant shall direct the Trustee in which investment option(s) to invest the
assets in the Participant's individual accounts. Such directions may be made by
Participants by use of the telephone exchange system, the internet or in such
other manner as may be agreed upon from time to time by the Sponsor and the
Trustee. Such direction shall be made in accordance with written exchange
guidelines attached hereto as Schedule "H". The Trustee shall not be liable for
any loss or expense that arises from a Participant's exercise or non-exercise of
rights under this Section 5 over the assets in the Participant's accounts,
unless such loss or expense is a direct result of the Trustee's negligence. In
the event that the Trustee fails to receive a proper direction from the
Participant, the assets shall be invested in the investment option set forth for
such purpose on Schedule "C", until the Trustee receives a proper direction.

         (d)  Mutual Funds. The Named Fiduciary hereby acknowledges that it has
              ------------
received from the Trustee a copy of the prospectus for each Fidelity Mutual Fund
selected by the Named Fiduciary as a Plan investment option or short-term
investment fund. All transactions involving Non-Fidelity Mutual Funds shall be
done in accordance with the operational guidelines attached hereto as Schedule
"I". Trust investments in Mutual Funds shall be subject to the following
limitations:

              (i)   Execution of Purchases and Sales. Purchases and sales of
                    --------------------------------
Mutual Funds (other than for exchanges) shall be made on the date on which the
Trustee receives from the Administrator in

                                       6

<PAGE>

good order all information, documentation and wire transfer of funds (if
applicable), necessary to accurately affect such transactions. For purposes of
this Agreement, "in good order" shall mean in a state or condition acceptable to
the Trustee in its sole discretion, which the Trustee determines is reasonably
necessary for accurate execution of the intended transaction. Exchanges of
Mutual Funds shall be made in accordance with the exchange guidelines attached
hereto as Schedule "H".

               (ii) Voting. At the time of mailing of notice of each annual or
                    ------
special stockholders' meeting of any Mutual Fund, the Trustee shall send a copy
of the notice and all proxy solicitation materials to each Participant who has
shares of such Mutual Fund credited to the Participant's accounts, together with
a voting direction form for return to the Trustee or its designee. The
Participant shall have the right to direct the Trustee as to the manner in which
the Trustee is to vote the shares credited to the Participant's accounts (both
vested and unvested). The Trustee shall vote the shares as directed by the
Participant.

During the Participant Recordkeeping Reconciliation Period, the Named Fiduciary
shall have the right to direct the Trustee as to the manner in which the Trustee
is to vote the shares of the Mutual Funds in the Trust, including Mutual Fund
shares held in any short-term investment fund for liquidity reserve. Following
the Participant Recordkeeping Reconciliation Period, the Named Fiduciary shall
continue to have the right to direct the Trustee as to the manner in which the
Trustee is to vote any Mutual Funds shares held in a short-term investment fund
for liquidity reserve.

The Trustee shall not vote any Mutual Fund shares for which it has received no
directions from the Participant or the Named Fiduciary.

With respect to all rights other than the right to vote, the Trustee shall
follow the directions of the Participant and if no such directions are received,
the directions of the Named Fiduciary. The Trustee shall have no further duty to
solicit directions from Participants or the Named Fiduciary.

         (e)   Stock.
               -----

               (i)  FMC Stock Fund. Trust investments in FMC Stock shall be made
                    --------------
via the FMC Stock Fund. Investments in the FMC Stock Fund shall consist
primarily of shares of FMC Stock. The FMC Stock Fund shall also include cash or
short-term liquid investments, in accordance with this paragraph, in amounts
designed to satisfy daily participant exchange or withdrawal requests. Such
holdings will include Colchester Street Trust: Money Market Portfolio: Class I,
or such other Mutual Fund or commingled money market pool as agreed to in
writing by the Sponsor and Trustee. The Named Fiduciary shall, after
consultation with the Trustee, establish and communicate to the Trustee in
writing a

                                       7

<PAGE>

target percentage and drift allowance for such short-term liquid investments.
Subject to its ability to execute open-market trades in FMC Stock or to
otherwise trade with the Sponsor, the Trustee shall be responsible for ensuring
that the short-term investments held in the FMC Stock Fund falls within the
agreed-upon range over time. Each Participant's proportional interest in the FMC
Stock Fund shall be measured in units of participation, rather than shares of
FMC Stock. Such units shall represent a proportionate interest in all of the
assets of the FMC Stock Fund, which includes shares of FMC Stock, short-term
investments and at times, receivables and payables (such as receivables and
payables arising out of unsettled stock trades). The Trustee shall determine a
daily NAV for each unit outstanding of the FMC Stock Fund. Valuation of the FMC
Stock Fund shall be based upon: (A) the Closing Price or, if not available, (B)
the price determined in good faith by the Trustee taking into account the latest
available price of FMC Stock, as reported on the NYSE or such other principal
national securities exchange on which FMC Stock is traded. The NAV shall be
adjusted for gains or losses realized on sales of FMC Stock, appreciation or
depreciation in the value of those shares owned, dividends paid on FMC Stock to
the extent not used to purchase additional units of the FMC Stock Fund for
affected Participants, and interest on the short-term investments held by the
FMC Stock Fund, payables and receivables for pending stock trades, receivables
for dividends not yet distributed, and payables for other expenses of the FMC
Stock Fund, including principal obligations, if any, and expenses that, pursuant
to Sponsor direction, the Trustee accrues or pays from the FMC Stock Fund.

               (ii)  Acquisition Limit. Pursuant to the Plan, the Trust may be
                     -----------------
invested in FMC Stock to the extent necessary to comply with investment
directions in accordance with this Agreement. The Sponsor shall be responsible
for providing specific direction on any acquisition limits required by the Plan
or applicable law. Notwithstanding anything herein to the contrary, effective as
of the Spin-Off Date, contributions and exchanges into the FMC Stock Fund are
prohibited.

               (iii)  Fiduciary Duty.

                      (A) The Named Fiduciary shall continually monitor the
suitability of acquiring and holding FMC Stock under the fiduciary duty rules of
section 404(a) of ERISA (as modified by section 404(a)(2) of ERISA). The Trustee
shall not be liable for any loss or expense which arises from the directions of
the Named Fiduciary with respect to the acquisition and holding of FMC Stock,
unless it is clear on their face that the actions to be taken under those
directions would be prohibited by the foregoing fiduciary duty rules or would be
contrary to the terms of this Agreement.

                      (B) Each Participant with an interest in FMC Stock (or, in
the event of the Participant's death, his beneficiary) is, for purposes of this
Section 5(e)(iii), hereby designated as a "named fiduciary" (within the meaning
of section 403(a)(1) of ERISA), with respect to the shares

                                       8

<PAGE>

allocated to his or her account that were not purchased at his or her direction,
and shall have the right to direct the Trustee as to the manner in which the
Trustee is to vote or tender such shares, including the right to direct the
Trustee's conduct, in accordance with disclosed rules, by his or her failure to
respond within the required time frame.

               (iv)  Purchases and Sales of FMC Stock. Unless otherwise directed
                     --------------------------------
by the Sponsor in writing pursuant to directions that the Trustee can
administratively implement, the following provisions shall govern purchases and
sales of FMC Stock.

                     (A)  Open Market Purchases and Sales. Purchases and sales
                          -------------------------------
of FMC Stock shall be made on the open market in accordance with the Trustee's
standard trading guidelines, as they may be amended by the Trustee from time to
time, as necessary to honor exchange and withdrawal activity and to maintain the
target cash percentage and drift allowance for the FMC Stock Fund, provided
that:

                          (1)  If the Trustee is unable to purchase or sell the
total number of shares required to be purchased or sold on such day as a result
of market conditions; or

                          (2)  If the Trustee is prohibited by the Securities
and Exchange Commission, the NYSE or principal exchange on which the FMC Stock
is traded, or any other regulatory body from purchasing or selling any or all of
the shares required to be purchased or sold on such day, then the Trustee shall
purchase or sell such shares as soon thereafter as administratively feasible.

                     (B)  Purchases and Sales from or to Sponsor. If directed by
                          --------------------------------------
the Sponsor in writing prior to the trading date, the Trustee may purchase or
sell FMC Stock from or to the Sponsor if the purchase or sale is for adequate
consideration (within the meaning of section 3(18) of ERISA) and no commission
is charged.

                     (C)  Use of an Affiliated Broker. The Named Fiduciary
                          ---------------------------
hereby directs the Trustee to use NFSLLC to provide brokerage services in
connection with any purchase or sale of FMC Stock on the open market, except in
circumstances where the Trustee has determined, in accordance with its standard
trading guidelines or pursuant to Sponsor direction, to seek expedited
settlement of the trades. NFSLLC shall execute such directions directly or
through any of its affiliates. The provision of brokerage services shall be
subject to the following:

                          (1)  As consideration for such brokerage services, the
Named Fiduciary agrees that NFSLLC shall be entitled to remuneration under this
direction provision in an amount of no more than three and one-fifth cents
($.032) commission on each share of FMC Stock. Any

                                       9

<PAGE>

change in such remuneration may be made only by a signed agreement between the
Named Fiduciary and Trustee.

                         (2)  The Trustee will provide the Named Fiduciary with
periodic reports which summarize all securities transaction-related charges
incurred with respect to trades of FMC Stock for such Plan.

                         (3)  Any successor organization of NFSLLC, through
reorganization, consolidation, merger or similar transactions, shall, upon
consummation of such transaction, become the successor broker in accordance with
the terms of this direction provision.

                         (4)  The Trustee and NFSLLC shall continue to rely on
this direction provision until notified to the contrary. The Named Fiduciary
reserves the right to terminate this direction upon written notice to NFSLLC (or
its successor) and the Trustee, in accordance with Section 12 of this Agreement.

               (v)  Execution of Purchases and Sales of Units. Unless otherwise
                    -----------------------------------------
directed in writing pursuant to directions that the Trustee can administratively
implement, purchases and sales of units shall be made as follows:

                    (A)  Subject to subparagraphs (B) and (C) below, purchases
and sales of units in the FMC Stock Fund (other than for exchanges) shall be
made on the date on which the Trustee receives from the Administrator in good
order all information, documentation, and wire transfers of funds (if
applicable), necessary to accurately effect such transactions. Exchanges of
units in the FMC Stock Fund shall be made in accordance with the Exchange
Guidelines attached hereto as Schedule "H".

                    (B)  Aggregate sales of units in the FMC Stock Fund on any
day shall be limited to the FMC Stock Fund's Available Liquidity for that day.
In the event that the requested sales exceed the Available Liquidity, then
transactions shall be processed giving precedence to distributions, loans and
withdrawals, and otherwise on a FIFO basis, as provided in Schedule "J"
Specified Hierarchy for the FMC Stock Fund. So long as the FMC Stock Fund is
open for such transactions, sales of units that are requested but not processed
on a given day due to insufficient Available Liquidity shall be suspended until
Available Liquidity is sufficient to honor such transactions in accordance with
the Specified Hierarchy.

                    (C)  The Trustee shall close the FMC Stock Fund to sales or
purchases of units, as applicable, on any date on which trading in FMC Stock has
been suspended or substantial purchase or sale orders are outstanding and cannot
be executed.

                                       10

<PAGE>

               (vi)  Securities Law Reports. The Trustee shall not be
                     ----------------------
responsible for filing any reports required under Federal or state securities
laws with respect to the Trust's ownership of FMC Stock, including, without
limitation, any reports required under section 13 or 16 of the Securities
Exchange Act of 1934. The Sponsor shall be responsible for immediately notifying
the Trustee in writing of any requirement known to the Sponsor to stop purchases
or sales of FMC Stock. The Trustee shall provide to the issuer of FMC Stock such
information on the Trust's ownership of FMC Stock as the issuer of FMC Stock may
reasonably request in order to comply with Federal or state securities laws.

               (vii) Voting and Tender Offers. Notwithstanding any other
                     ------------------------
provision of this Agreement the provisions of this Section shall govern the
voting and tendering of FMC Stock. The Sponsor shall pay for all printing,
mailing, tabulation and other costs associated with the voting and tendering of
FMC Stock to the extent that such costs are not paid for by the issuer of FMC
Stock.

                    (A)  Voting.
                         ------

                         (1)  The Trustee shall furnish to the transfer agent of
the issuer of FMC Stock the names, addresses and social security numbers of the
Participants holding shares in the FMC Stock Fund, and the percentages of shares
owned by each Participant as of the record date through reports and/or data
tape. The issuer of FMC Stock shall be responsible for distributing proxy
materials and voting instruction forms to Participants holding an interest in
the FMC Stock Fund. In the event that the issuer of FMC Stock does not
distribute said proxy materials and voting instruction forms to Participants
holding an interest in FMC Stock, (i) the Sponsor shall utilize its best efforts
to timely distribute or cause to be distributed for Participants said
information; and (ii) the Sponsor shall, upon request, provide the Trustee with
a copy of any material provided to Participants and certify to the Trustee that
the materials have been mailed or otherwise sent to Participants

                         (2)  Each Participant with an interest in the FMC Stock
Fund shall have the right to direct the Trustee as to the manner in which the
Trustee is to vote (including not to vote) that number of shares of FMC Stock
reflecting such Participant's proportional interest in the FMC Stock Fund (both
vested and unvested). Directions from a Participant to the Trustee concerning
the voting of FMC Stock shall be communicated in writing, or by such other means
as is agreed upon by the Trustee and the Sponsor. These directions shall be held
in confidence by the Trustee and shall not be divulged to the Sponsor, or any
officer or employee thereof, or any other person except to the extent that the
consequences of such directions are reflected in reports regularly communicated
to any such persons in the ordinary course of the performance of the Trustee's
services hereunder. Upon its receipt of the directions, the Trustee shall vote
the shares of FMC Stock reflecting the Participant's proportional interest in
the FMC Stock Fund as directed by the Participant.

                                       11

<PAGE>

               (3) Prior to the Spin-Off Date, for all undirected shares of FMC
Stock, both allocated and unallocated, the Trustee shall vote as directed by the
Named Fiduciary, except as otherwise required by law. The Named Fiduciary may
delegate to a fiduciary independent of the Trustee and the Sponsor, the
authority to so direct the Trustee. The Sponsor shall bear the cost of any such
delegation. After the Spin-Off Date, except as otherwise required by law, the
Trustee shall vote all undirected shares of FMC Stock, both allocated and
unallocated, in the same manner and in the same proportion as the total number
of shares of FMC Stock credited to Participants' accounts for which it has
received direction from Participants.

          (B)  Tender Offers.
               -------------

               (1) Each Participant with an interest in the FMC Stock Fund shall
have the right to direct the Trustee to tender or not to tender some or all of
the shares of FMC Stock reflecting such Participant's proportional interest in
the FMC Stock Fund (both vested and unvested). Directions from a Participant to
the Trustee concerning the tender of FMC Stock shall be communicated in writing,
or by such other means as is agreed upon by the Trustee and the Sponsor. These
directions shall be held in confidence by the Trustee and shall not be divulged
to the Sponsor, or any officer or employee thereof, or any other person except
to the extent that the consequences of such directions are reflected in reports
regularly communicated to any such persons in the ordinary course of the
performance of the Trustee's services hereunder. The Trustee shall tender or not
tender shares of FMC Stock as directed by the Participant. Except as otherwise
required by law, the Trustee shall not tender shares of FMC Stock reflecting a
Participant's proportional interest in the FMC Stock Fund for which it has
received no direction from the Participant.

               (2) Except as otherwise required by law, the Trustee shall tender
that number of shares of FMC Stock not credited to Participants' accounts in the
same proportion as the total number of shares of FMC Stock credited to
Participants' accounts for which it has received instructions from Participants.

               (3) A Participant who has directed the Trustee to tender some or
all of the shares of FMC Stock reflecting the Participant's proportional
interest in the FMC Stock Fund may, at any time prior to the tender offer
withdrawal date, direct the Trustee to withdraw some or all of the tendered
shares reflecting the Participant's proportional interest, and the Trustee shall
withdraw the directed number of shares from the tender offer prior to the tender
offer withdrawal deadline. Prior to the withdrawal deadline, if any shares of
FMC Stock not credited to Participants' accounts have been tendered, the Trustee
shall redetermine the number of shares of FMC Stock that would be tendered under
Section 5(e)(vii)(B)(2) if the date of the foregoing withdrawal were the date of
determination, and

                                       12

<PAGE>

withdraw from the tender offer the number of shares of FMC Stock not credited to
Participants' accounts necessary to reduce the amount of tendered FMC Stock not
credited to Participants' accounts to the amount so redetermined. A Participant
shall not be limited as to the number of directions to tender or withdraw that
the Participant may give to the Trustee.

                    (4) A direction by a Participant to the Trustee to tender
shares of FMC Stock reflecting the Participant's proportional interest in the
FMC Stock Fund shall not be considered a written election under the Plan by the
Participant to withdraw, or have distributed, any or all of his withdrawable
shares. The Trustee shall credit to each proportional interest of the
Participant from which the tendered shares were taken the proceeds received by
the Trustee in exchange for the shares of FMC Stock tendered from that interest.
Pending receipt of directions (through the Administrator) from the Participant
or the Named Fiduciary, as provided in the Plan, as to which of the remaining
investment options the proceeds should be invested in, the Trustee shall invest
the proceeds in the investment option described in Schedule "C".

          (viii) General. With respect to all shareholder rights other than the
                 -------
right to vote, the right to tender, and the right to withdraw shares previously
tendered, in the case of FMC Stock, the Trustee shall follow the procedures set
forth in subsection (A), above.

          (ix)   Conversion. All provisions in this Section 5(e)(i-viii) shall
                 ----------
also apply to any securities received as a result of a conversion of FMC Stock.

          (x)    Notice. As soon as practicable following the Spin-Off Date, the
                 ------
Sponsor shall provide written notice to the Trustee regarding the date of the
Spin-Off. Said written notice shall: (1) include all information deemed
reasonably necessary by the Trustee and the Sponsor to carry out the terms of
this Agreement and (2) be sent by certified or registered mail, return receipt
requested, to the Trustee c/o Dennis Maguire, Fidelity Investments, 300 Puritan
Way, MM3H, Marlborough, MA 01752-3078.

          (xi)   FMC Technologies Stock Fund. Trust investments in FMC
                 ---------------------------
Technologies Stock shall be made via the FMC Technologies Stock Fund.
Investments in the FMC Technologies Stock Fund shall consist primarily of shares
of FMC Technologies Stock. The FMC Technologies Stock Fund shall also include
cash or short-term liquid investments, in accordance with this paragraph, in
amounts designed to satisfy daily participant exchange or withdrawal requests.
Such holdings will include Colchester Street Trust: Money Market Portfolio:
Class I, or such other Mutual Fund or commingled money market pool as agreed to
in writing by the Sponsor and Trustee. The Named Fiduciary shall, after
consultation with the Trustee, establish and communicate to the Trustee in
writing a target percentage

                                       13

<PAGE>

and drift allowance for such short-term liquid investments. Subject to its
ability to execute open-market trades in FMC Technologies Stock or to otherwise
trade with the Sponsor, the Trustee shall be responsible for ensuring that the
short-term investments held in the FMC Technologies Stock Fund falls within the
agreed-upon range over time. Each Participant's proportional interest in the FMC
Technologies Stock Fund shall be measured in units of participation, rather than
shares of FMC Technologies Stock. Such units shall represent a proportionate
interest in all of the assets of the FMC Technologies Stock Fund, which includes
shares of FMC Technologies Stock, short-term investments and at times,
receivables and payables (such as receivables and payables arising out of
unsettled stock trades). The Trustee shall determine a daily NAV for each unit
outstanding of the FMC Technologies Stock Fund. Valuation of the FMC
Technologies Stock Fund shall be based upon: (A) the Closing Price or, if not
available, (B) the price determined in good faith by the Trustee taking into
account the latest available price of FMC Technologies Stock, as reported on the
NYSE or such other principal national securities exchange on which FMC
Technologies Stock is traded. The NAV shall be adjusted for gains or losses
realized on sales of FMC Technologies Stock, appreciation or depreciation in the
value of those shares owned, dividends paid on FMC Technologies Stock to the
extent not used to purchase additional units of the FMC Technologies Stock Fund
for affected Participants, and interest on the short-term investments held by
the FMC Technologies Stock Fund, payables and receivables for pending stock
trades, receivables for dividends not yet distributed, and payables for other
expenses of the FMC Technologies Stock Fund, including principal obligations, if
any, and expenses that, pursuant to Sponsor direction, the Trustee accrues or
pays from the FMC Technologies Stock Fund.

          (xii)  Acquisition Limit. Pursuant to the Plan, the Trust may be
                 -----------------
invested in FMC Technologies Stock to the extent necessary to comply with
investment directions in accordance with this Agreement. The Sponsor shall be
responsible for providing specific direction on any acquisition limits required
by the Plan or applicable law.

          (xiii) Fiduciary Duty.

                 (A) The Named Fiduciary shall continually monitor the
suitability of acquiring and holding FMC Technologies Stock under the fiduciary
duty rules of section 404(a) of ERISA (as modified by section 404(a)(2) of
ERISA). The Trustee shall not be liable for any loss or expense which arises
from the directions of the Named Fiduciary with respect to the acquisition and
holding of FMC Technologies Stock, unless it is clear on their face that the
actions to be taken under those directions would be prohibited by the foregoing
fiduciary duty rules or would be contrary to the terms of this Agreement.

                                       14

<PAGE>

                (B) Each Participant with an interest in FMC Technologies Stock

(or, in the event of the Participant's death, his beneficiary) is, for purposes
of this Section 5(e)(xiii), hereby designated as a "named fiduciary" (within the
meaning of section 403(a)(1) of ERISA), with respect to the shares allocated to
his or her account that were not purchased at his or her direction, and shall
have the right to direct the Trustee as to the manner in which the Trustee is to
vote or tender such shares, including the right to direct the Trustee's conduct,
in accordance with disclosed rules, by his or her failure to respond within the
required time frame.

          (xiv) Purchases and Sales of FMC Technologies Stock. Unless otherwise
                ---------------------------------------------
directed by the Sponsor in writing pursuant to directions that the Trustee can
administratively implement, the following provisions shall govern purchases and
sales of FMC Technologies Stock.

                (A) Open Market Purchases and Sales. Purchases and sales of FMC
                    -------------------------------
Technologies Stock shall be made on the open market in accordance with the
Trustee's standard trading guidelines, as they may be amended by the Trustee
from time to time, as necessary to honor exchange and withdrawal activity and to
maintain the target cash percentage and drift allowance for the FMC Technologies
Stock Fund, provided that:

                    (1) If the Trustee is unable to purchase or sell the total
number of shares required to be purchased or sold on such day as a result of
market conditions; or

                    (2) If the Trustee is prohibited by the Securities and
Exchange Commission, the NYSE or principal exchange on which FMC Technologies
Stock is traded, or any other regulatory body from purchasing or selling any or
all of the shares required to be purchased or sold on such day, then the Trustee
shall purchase or sell such shares as soon thereafter as administratively
feasible.

                (B) Purchases and Sales from or to Sponsor. If directed by the
                    --------------------------------------
Sponsor in writing prior to the trading date, the Trustee may purchase or sell
FMC Technologies Stock from or to the Sponsor if the purchase or sale is for
adequate consideration (within the meaning of section 3(18) of ERISA) and no
commission is charged. If Sponsor contributions (employer) or contributions made
by the Sponsor on behalf of the Participants (employee) under the Plan are to be
invested in FMC Technologies Stock, the Sponsor may transfer FMC Technologies
Stock in lieu of cash to the Trust.

                (C) Use of an Affiliated Broker. The Named Fiduciary hereby
                    ---------------------------
directs the Trustee to use NFSLLC to provide brokerage services in connection
with any purchase or sale of FMC Technologies Stock on the open market, except
in circumstances where the Trustee has determined, in accordance with its
standard trading guidelines or pursuant to Sponsor direction, to seek expedited

                                       15

<PAGE>

settlement of the trades. NFSLLC shall execute such directions directly or
through any of its affiliates. The provision of brokerage services shall be
subject to the following:

                    (1) As consideration for such brokerage services, the Named
Fiduciary agrees that NFSLLC shall be entitled to remuneration under this
direction provision in an amount of no more than three and one-fifth cents
($.032) commission on each share of FMC Technologies Stock. Any change in such
remuneration may be made only by a signed agreement between the Named Fiduciary
and Trustee.

                    (2) The Trustee will provide the Named Fiduciary with
periodic reports which summarize all securities transaction-related charges
incurred with respect to trades of FMC Technologies Stock for such Plan.

                    (3) Any successor organization of NFSLLC, through
reorganization, consolidation, merger or similar transactions, shall, upon
consummation of such transaction, become the successor broker in accordance with
the terms of this direction provision.

                    (4) The Trustee and NFSLLC shall continue to rely on this
direction provision until notified to the contrary. The Named Fiduciary reserves
the right to terminate this direction upon written notice to NFSLLC (or its
successor) and the Trustee, in accordance with Section 12 of this Agreement.

          (xv) Execution of Purchases and Sales of Units. Unless otherwise
               -----------------------------------------
directed in writing pursuant to directions that the Trustee can administratively
implement, purchases and sales of units shall be made as follows:

               (A) Subject to subparagraphs (B) and (C) below, purchases and
sales of units in the FMC Technologies Stock Fund (other than for exchanges)
shall be made on the date on which the Trustee receives from the Administrator
in good order all information, documentation, and wire transfers of funds (if
applicable), necessary to accurately effect such transactions. Exchanges of
units in the FMC Technologies Stock Fund shall be made in accordance with the
Exchange Guidelines attached hereto as Schedule "H".

               (B) Aggregate sales of units in the FMC Technologies Stock Fund
on any day shall be limited to the FMC Technologies Stock Fund's Available
Liquidity for that day. In the event that the requested sales exceed the
Available Liquidity, then transactions shall be processed giving precedence to
distributions, loans and withdrawals, and otherwise on a FIFO basis, as provided
in Schedule "K" the Specified Hierarchy for the FMC Technologies Stock Fund. So
long as the FMC

                                       16

<PAGE>

Technologies Stock Fund is open for such transactions, sales of units that are
requested but not processed on a given day due to insufficient Available
Liquidity shall be suspended until Available Liquidity is sufficient to honor
such transactions in accordance with the Specified Hierarchy.

                 (C) The Trustee shall close the FMC Technologies Stock Fund to
sales or purchases of units, as applicable, on any date on which trading in the
FMC Technologies Stock has been suspended or substantial purchase or sale orders
are outstanding and cannot be executed.

          (xvi)  Securities Law Reports. The Trustee shall not be responsible
                 ----------------------
for filing any reports required under Federal or state securities laws with
respect to the Trust's ownership of FMC Technologies Stock, including, without
limitation, any reports required under section 13 or 16 of the Securities
Exchange Act of 1934. The Sponsor shall be responsible for immediately notifying
the Trustee in writing of any requirement to stop purchases or sales of FMC
Technologies Stock. The Trustee shall provide to the Sponsor such information on
the Trust's ownership of FMC Technologies Stock as the Sponsor may reasonably
request in order to comply with Federal or state securities laws.

          (xvii) Voting and Tender Offers. Notwithstanding any other provision
                 ------------------------
of this Agreement the provisions of this Section shall govern the voting and
tendering of FMC Technologies Stock. The Sponsor shall pay for all printing,
mailing, tabulation and other costs associated with the voting and tendering of
FMC Technologies Stock.

                 (A) Voting.
                     ------

                    (1) When the issuer of FMC Technologies Stock prepares for
any annual or special meeting, the Sponsor shall notify the Trustee at least
thirty (30) days in advance of the intended record date and the Trustee shall
furnish to the Sponsor's transfer agent the names, addresses and social security
numbers of the Participants holding shares in the FMC Technologies Stock Fund,
and the percentages of shares owned by each Participant as of the record date
through reports and/or data tape. The Sponsor shall cause its transfer agent to
distribute proxy materials and voting instruction forms to participants holding
an interest in the FMC Technologies Stock Fund. The Sponsor shall, upon request,
provide the Trustee with a copy of any materials provided to the participants
and certify to the Trustee that the materials have been mailed or otherwise sent
to participants.

                    (2) Each Participant with an interest in the FMC
Technologies Stock Fund shall have the right to direct the Trustee as to the
manner in which the Trustee is to vote (including not to vote) that number of
shares of FMC Technologies Stock reflecting such Participant's proportional
interest in the FMC Technologies Stock Fund (both vested and unvested).
Directions from a Participant to the Trustee concerning the voting of FMC
Technologies Stock shall be communicated in

                                       17

<PAGE>

writing, or by such other means as is agreed upon by the Trustee and the Sponsor
through the Sponsor's transfer agent. These directions shall be held in
confidence by the Trustee and shall not be divulged to the Sponsor, or any
officer or employee thereof, or any other person except to the extent that the
consequences of such directions are reflected in reports regularly communicated
to any such persons in the ordinary course of the performance of the Trustee's
services hereunder. Upon its receipt of the directions, the Trustee shall vote
the shares of FMC Technologies Stock reflecting the Participant's proportional
interest in the Stock Fund as directed by the Participant.

                    (3) Except as otherwise required by law, for all undirected
shares of FMC Technologies Stock, both allocated and unallocated, the Trustee
shall vote that number of shares of FMC Technologies Stock not credited to
Participants' accounts in the same proportion as the total number of shares of
FMC Technologies Stock credited to Participants' accounts for which it has
received instructions from Participants.

                    (B) Tender Offers.
                        -------------

                         (1) Upon commencement of a tender offer for any
securities held in the Trust that are FMC Technologies Stock, the Sponsor shall
notify each Participant of the tender offer and utilize its best efforts to
timely distribute or cause to be distributed to the participant the same
information that is distributed to shareholders of the FMC Technologies Stock in
connection with the tender offer. The Sponsor shall, upon request, provide the
Trustee with a copy of any material provided to the participants and certify to
the Trustee that the materials have been mailed or otherwise sent to
participants.

                         (2) Each Participant with an interest in the FMC
Technologies Stock Fund shall have the right to direct the Trustee to tender or
not to tender some or all of the shares of FMC Technologies Stock reflecting
such Participant's proportional interest in the FMC Technologies Stock Fund
(both vested and unvested). Directions from a Participant to the Trustee
concerning the tender of FMC Technologies Stock shall be communicated in
writing, or by such other means as is agreed upon by the Trustee and the
Sponsor.) These directions shall be held in confidence by the Trustee and shall
not be divulged to the Sponsor, or any officer or employee thereof, or any other
person except to the extent that the consequences of such directions are
reflected in reports regularly communicated to any such persons in the ordinary
course of the performance of the Trustee's services hereunder. The Trustee shall
tender or not tender shares of FMC Technologies Stock as directed by the
Participant. Except as otherwise required by law, the Trustee shall not tender
shares of FMC Technologies Stock reflecting a Participant's proportional
interest in the FMC Technologies Stock Fund for which it has received no
direction from the Participant.

                                       18

<PAGE>

                  (3) Except as otherwise required by law, with respect to all
shares of FMC Technologies Stock not credited to Participants' accounts
(unallocated), the Trustee shall tender such shares in the same proportion as
the total number of shares of FMC Technologies Stock credited to Participants'
accounts that have been tendered by Participants or shareholders.

                  (4) A Participant who has directed the Trustee to tender some
or all of the shares of FMC Technologies Stock reflecting the Participant's
proportional interest in the FMC Technologies Stock Fund may, at any time prior
to the tender offer withdrawal date, direct the Trustee to withdraw some or all
of the tendered shares reflecting the Participant's proportional interest, and
the Trustee shall withdraw the directed number of shares from the tender offer
prior to the tender offer withdrawal deadline. Prior to the withdrawal deadline,
if any shares of FMC Technologies Stock not credited to Participants' accounts
have been tendered, the Trustee shall redetermine the number of shares of FMC
Technologies Stock that would be tendered under Section 5(e)(xvii)(B)(3) if the
date of the foregoing withdrawal were the date of determination, and withdraw
from the tender offer the number of shares of FMC Technologies Stock not
credited to Participants' accounts necessary to reduce the amount of tendered
FMC Technologies Stock not credited to Participants' accounts to the amount so
redetermined. A Participant shall not be limited as to the number of directions
to tender or withdraw that the Participant may give to the Trustee.

                  (5) A direction by a Participant to the Trustee to tender
shares of FMC Technologies Stock reflecting the Participant's proportional
interest in the FMC Technologies Stock Fund shall not be considered a written
election under the Plan by the Participant to withdraw, or have distributed, any
or all of his withdrawable shares. The Trustee shall credit to each proportional
interest of the Participant from which the tendered shares were taken the
proceeds received by the Trustee in exchange for the shares of FMC Technologies
Stock tendered from that interest. Pending receipt of directions (through the
Administrator) from the Participant or the Named Fiduciary, as provided in the
Plan, as to which of the remaining investment options the proceeds should be
invested in, the Trustee shall invest the proceeds in the investment option
described in Schedule "C".

          (xviii) General. With respect to all shareholder rights other than the
                  -------
right to vote, the right to tender, and the right to withdraw shares previously
tendered, in the case of FMC Technologies Stock, the Trustee shall follow the
procedures set forth in subsection (A), above.

          (xix)   Conversion. All provisions in this Section 5(e)(xi-xviii)
                  ----------
shall also apply to any securities received as a result of a conversion of FMC
Technologies Stock.

     (f)  Participant Loans. The Administrator shall act as the Trustee's agent
          -----------------
for Participant loan notes and as such shall (i) separately account for
repayments of such loans and clearly identify such

                                       19

<PAGE>

assets as Plan assets and (ii) collect and remit all principal and interest
payments to the Trustee. To originate a Participant loan, the Plan Participant
shall direct the Trustee as to the term and amount of the loan to be made from
the Participant's individual account. Such directions shall be made by Plan
Participants by use of the system maintained for such purpose by the Trustee or
its agent. The Trustee shall determine, based on the current value of the
Participant's account on the date of the request and any guidelines provided by
the Sponsor, the amount available for the loan. Based on the interest rate
supplied by the Sponsor in accordance with the terms of the Plan, the Trustee
shall advise the Participant of such interest rate, as well as the installment
payment amounts. The Trustee shall distribute the Participant loan agreement and
truth-in-lending disclosure with the proceeds check to the Participant. To
facilitate recordkeeping, the Trustee may destroy the original of any proceeds
check (including the promissory note) made in connection with a loan to a
Participant under the Plan, provided that the Trustee or its agent first creates
a duplicate by a photographic or optical scanning or other process yielding a
reasonable facsimile of the proceeds check (including the promissory note) and
the Plan Participant's signature thereon, which duplicate may be reduced or
enlarged in size from the actual size of the original.

     (g) Stable Value Investments. Stable value investments in the Trust shall
         ------------------------
be subject to the following limitations:

         (i)   Collective Investment Funds Managed by the Trustee. To the extent
               --------------------------------------------------
that the Named Fiduciary selects as an investment option the Managed Income
Portfolio II of the Fidelity Group Trust for Employee Benefit Plans, a group
trust maintained by the Trustee for qualified plans (the "Group Trust"), the
Sponsor hereby (A) acknowledges that it has received from the Trustee a copy of
the Group Trust, the participation agreement for the Group Trust (the
"Participation Agreement") and the Declaration of Separate Fund for the Managed
Income Portfolio II of the Group Trust, and (B) adopts the terms of the Group
Trust, the Participation Agreement and the Declaration of Separate Fund as part
of this Agreement.

         (ii)  MIP II Blend Fund. The MIP II Blend Fund shall consist of the
               -----------------
Existing Investment Contracts maintained by the Trustee and blended with the
Managed Income Portfolio II. All transactions involving the MIP II Blend Fund
shall be done in accordance with the Investment Guidelines attached hereto as
Schedule "L".

         (iii) Liquidity Reserve. To provide the necessary monies for exchanges
               -----------------
or redemptions from the stable value investment option, if any, under the Plan,
the Sponsor agrees that the Plan shall maintain a liquidity reserve for the
Plan's stable value investment options consisting of

                                       20

<PAGE>

         Colchester Street Trust: Money Market Portfolio: Class I or such other
Mutual Fund or commingled money market pool as agreed to by the Sponsor and the
Trustee.

     (h) Participation in U.S. Equity Index Commingled Pool. The Sponsor hereby
         --------------------------------------------------
(i) acknowledges that it has received from the Trustee a copy of the Group Trust
for the U.S. Equity Index Commingled Pool, the Participation Agreement for the
Group Trust and the Declaration of Separate Fund for the U.S. Equity Index
Commingled Pool, and (ii) adopts as part of this Agreement the terms of the
Group Trust, the Participation Agreement and the Declaration of Separate Fund
for the U.S. Equity Index Commingled Pool.

     (i) Trustee Powers. The Trustee shall have the following powers and
         --------------
authority:

         (i)   Subject to paragraphs (a) through (h) of this Section 5, to sell,
exchange, convey, transfer, or otherwise dispose of any property held in the
Trust, by private contract or at public auction. No person dealing with the
Trustee shall be bound to see to the application of the purchase money or other
property delivered to the Trustee or to inquire into the validity, expediency,
or propriety of any such sale or other disposition.

         (ii)  To cause any securities or other property held as part of the

Trust to be registered in the Trustee's own name, in the name of one or more of
its nominees, or in the Trustee's account with the Depository Trust Company of
New York and to hold any investments in bearer form, but the books and records
of the Trustee shall at all times show that all such investments are part of the
Trust.

         (iii) To keep that portion of the Trust in cash or cash balances as
the Named Fiduciary or Administrator may, from time to time, deem to be in the
best interest of the Trust.

         (iv)  To make, execute, acknowledge, and deliver any and all documents
of transfer or conveyance and to carry out the powers herein granted.

         (v)   To borrow funds from a bank not affiliated with the Trustee in
order to provide sufficient liquidity to process Plan transactions in a timely
fashion; provided that the cost of such borrowing shall be allocated in a
reasonable fashion to the investment fund(s) in need of liquidity.

         (vi)  To settle, compromise, or submit to arbitration any claims,
debts, or damages due to or arising from the Trust; to commence or defend suits
or legal or administrative proceedings; to represent the Trust in all suits and
legal and administrative hearings; and to pay all reasonable expenses arising
from any such action, from the Trust if not paid by the Sponsor, all with the
advance written consent of the Sponsor, which consent shall not be unreasonably
withheld.

                                       21

<PAGE>

         (vii)  To employ legal, accounting, clerical, and other assistance as
may be required in carrying out the provisions of this Agreement and to pay
their reasonable expenses and compensation from the Trust if not paid by the
Sponsor, all with the advance written consent of the Sponsor, which consent
shall not be unreasonably withheld.

         (viii) Subject to paragraphs (a) through (h) of this Section 5, to
invest all or any part of the assets of the Trust in investment contracts and
short term investments (including interest bearing accounts with the Trustee or
money market mutual funds advised by affiliates of the Trustee) and in any
collective investment trust or group trust, including any collective investment
trust or group trust maintained by the Trustee, which then provides for the
pooling of the assets of plans described in Section 401(a) and exempt from tax
under Section 501(a) of the Code, or any comparable provisions of any future
legislation that amends, supplements, or supersedes those sections, provided
that such collective investment trust or group trust is exempt from tax under
the Code or regulations or rulings issued by the Internal Revenue Service. The
provisions of the document governing such collective investment trusts or group
trusts, as it may be amended from time to time, shall govern any investment
therein and are hereby made a part of this Trust Agreement.

         (ix)   To do all other acts, although not specifically mentioned
herein, as the Trustee may deem reasonably necessary to carry out any of the
foregoing powers and the purposes of the Trust. Notwithstanding anything herein
to the contrary, the Trustee's powers shall be exercisable for the exclusive
purpose of providing benefits to Participants under the Plan and in accordance
with the standards of a prudent man under ERISA.

Section 6. Recordkeeping and Administrative Services to Be Performed.
           ---------------------------------------------------------

       (a) General. The Trustee or its affiliates shall perform those
           -------
recordkeeping and administrative functions described in Schedule "A" attached
hereto. These recordkeeping and administrative functions shall be performed in
accordance with the terms of the Plan as set forth and detailed in the PAM.

       (b) Accounts. The Trustee shall keep accurate accounts of all
           --------
investments, receipts, disbursements, and other transactions hereunder, and
shall report the value of the assets held in the Trust as of each Reporting
Date. Within thirty (30) days following each Reporting Date or within sixty (60)
days in the case of a Reporting Date caused by the resignation or removal of the
Trustee, or the termination of this Agreement, the Trustee shall file with the
Administrator a written account setting forth all investments, receipts,
disbursements, and other transactions effected by the Trustee between the
Reporting Date and the prior Reporting Date, and setting forth the value of the
Trust as of the Reporting

                                       22

<PAGE>

Date. Except as otherwise required under ERISA, upon the expiration of one year
from the date of filing such account with the Sponsor, the Trustee shall have no
liability or further accountability to the Administrator with respect to the
propriety of its acts or transactions shown in such account (or any
participant-level report provided to a participant), except with respect to such
acts or transactions as to which a written objection shall have been filed with
the Trustee within such one year period, other than to take action to correct
any errors as directed by the Sponsor. During said one (1) year period, errors
will be corrected by the Trustee at the Trustee's expense. After said one (1)
year period, errors will be corrected by the Trustee at the Sponsor's expense.

     (c)  Inspection and Audit. Prior to the termination of this Agreement, all
          --------------------
records generated by the Trustee in accordance with paragraphs (a) and (b),
above, shall be open to inspection and audit by the Administrator or any persons
designated by the Administrator, during the Trustee's regular business hours.
Upon the resignation or removal of the Trustee or the termination of this
Agreement, the Trustee shall provide to the Sponsor, at no expense to the
Sponsor or the Trust, (i) test data in a machine readable format (via diskette
or tape, with corresponding hard copy reports and file layout information)
containing a file dump of plan data, including a statement of each Participant's
account, which statement shall include at least the name, address, social
security number, date of hire, date of birth, vesting, account balances by
Participant and source, forfeiture balances and any other indicative data
maintained on FPRS, and (ii) a final file dump in the same format as the test
data as of the final date specified in the notice of resignation, removal, or
termination of the Trustee or the termination of this Agreement. The Sponsor
will be responsible for any cost associated with providing the Administrator or
the Plan's new recordkeeper with additional records which are routinely prepared
by the Trustee in recordkeeping the Plan. Such additional costs shall be
communicated to the Sponsor in advance, and the Sponsor's written approval of
such costs shall be obtained before such costs are incurred.

     (d)  Notice of Plan Amendment. The Trustee's provision of the recordkeeping
          ------------------------
and administrative services set forth in this Section 6 shall be conditioned on
the Sponsor delivering to the Trustee a copy of any amendment to the Plan as
soon as administratively feasible following the amendment's adoption and on the
Administrator providing the Trustee, on a timely basis, with all the information
the Trustee deems necessary for it to perform the recordkeeping and
administrative services set forth herein, and such other information as the
Trustee may reasonably request.

     (e)  Returns, Reports and Information. Except as set forth on Schedule "A",
          --------------------------------
the Administrator shall be responsible for the preparation and filing of all
returns, reports, and information required of the Trust or Plan by law. The
Trustee shall provide the Administrator with such information in the Trustee's
regular format, which shall be machine readable, as the Administrator may
reasonably request to make these filings at no additional cost to the Sponsor or
the Trust. The Administrator shall

                                       23

<PAGE>

also be responsible for making any disclosures to Participants required by law,
except such disclosure as may be required under federal or state
truth-in-lending laws with regard to Participant loans, which shall be provided
by the Trustee.

Section 7.  Compensation and Expenses. Within thirty (30) days of receipt of the
            -------------------------
Trustee's bill, which shall be computed and billed in accordance with Schedule
"B" attached hereto and made a part hereof, as amended from time to time, the
Sponsor shall send to the Trustee a payment in such amount or the Sponsor may
direct the Trustee to deduct such amount from Participants' accounts. All
expenses of the Trustee relating directly to the acquisition and disposition of
investments constituting part of the Trust, and all taxes of any kind whatsoever
that may be levied or assessed under existing or future laws upon or in respect
of the Trust or the income thereof, shall be a charge against and paid from the
appropriate Participants' accounts. To reflect increased operating costs, the
Trustee may once each calendar year, but not prior to September 28, 2002 amend
Schedule "B" with the Sponsor's consent, which consent shall not be unreasonably
withheld or delayed, upon seventy-five (75) days notice to the Sponsor.

Section 8.  Directions and Indemnification.
            ------------------------------

       (a)  Identity of Administrator and Named Fiduciary. The Trustee shall be
            ---------------------------------------------
fully protected in relying on the fact that the authorized individuals of the
Named Fiduciary and the Administrator under the Plan are the individuals or
entities named as such above or such other individuals or persons as the Sponsor
may notify the Trustee in writing.

       (b)  Directions from Administrator. Whenever the Administrator provides a
            -----------------------------
direction to the Trustee, the Trustee shall not be liable for any loss or
expense arising from the direction (i) if the direction is contained in a
writing (or is oral and immediately confirmed in a writing) signed by any
individual whose name and signature have been submitted (and not withdrawn) in
writing to the Trustee by the Administrator in the form attached hereto as
Schedule "D", and (ii) if the Trustee reasonably believes the signature of the
individual to be genuine, unless it is clear on the direction's face that the
actions to be taken under the direction would be prohibited by the fiduciary
duty rules of Section 404(a) of ERISA or would be contrary to the terms of this
Agreement. For purposes of this Section, such direction may also be made via
electronic data transfer (EDT) or other electronic means in accordance with
procedures agreed to by the Administrator and the Trustee; provided, however,
that the Trustee shall be fully protected in relying on such direction as if it
were a direction made in writing by the Administrator.

                                       24

<PAGE>

       (c)  Directions from Named Fiduciary. Whenever the Named Fiduciary or
            -------------------------------
Sponsor provides a direction to the Trustee, the Trustee shall not be liable for
any loss or expense arising from the direction (i) if the direction is contained
in a writing (or is oral and immediately confirmed in a writing) signed by any
individual whose name and signature have been submitted (and not withdrawn) in
writing to the Trustee by the Named Fiduciary in the form attached hereto as
Schedule "E" and (ii) if the Trustee reasonably believes the signature of the
individual to be genuine, unless it is clear on the direction's face that the
actions to be taken under the direction would be prohibited by the fiduciary
duty rules of Section 404(a) of ERISA or would be contrary to the terms of this
Agreement. Such direction may also be made via EDT or other electronic means in
accordance with procedures agreed to by the Named Fiduciary and the Trustee;
provided, however, that the Trustee shall be fully protected in relying on such
direction as if it were a direction made in writing by the Named Fiduciary.

       (d)  Co-Fiduciary Liability. In any other case, the Trustee shall not be
            ----------------------
liable for any loss or expense arising from any act or omission of another
fiduciary under the Plan except as provided in section 405(a) of ERISA.

       (e)  Indemnification. The Sponsor shall indemnify the Trustee against,
            ---------------
and hold the Trustee harmless from, any and all loss, damage, penalty,
liability, cost, and expense, including without limitation, reasonable
attorneys' fees and disbursements ("Losses"), that may be incurred by, imposed
upon, or asserted against the Trustee by reason of any claim, regulatory
proceeding, or litigation arising from any act done or omitted to be done by any
individual or person with respect to the Plan or Trust, excepting only any and
all Losses arising from the Trustee's negligence, bad faith, violation of law,
breach of the terms of this Agreement or error.

The Trustee shall indemnify the Sponsor against, and hold the Sponsor harmless
from, any and all Losses that may be incurred by, imposed upon, or asserted
against the Sponsor by reason of any claim, regulatory proceeding, or litigation
arising from Trustee's, its agents', affiliates' or their successors'
negligence, bad faith, violation of law, breach of the terms of this Agreement
or error.

The Trustee shall also indemnify the Sponsor against and hold the Sponsor
harmless from any and all such Losses that may be incurred by, imposed upon, or
asserted against the Sponsor solely as a result of (i) any defects in the
investment methodology embodied in the target asset allocation or model
portfolio provided through Fidelity PortfolioPlanner(SM), except to the extent
that any such Losses arise from information provided by the Participant, the
Sponsor or third parties; or (ii) any prohibited transactions resulting from the
provision of Fidelity PortfolioPlanner(SM) by the Trustee.

       (f)  Survival. The provisions of this Section 8 shall survive the
            --------
termination of this Agreement.

                                       25

<PAGE>

Section 9.  Resignation or Removal of Trustee.
            ---------------------------------

       (a)  Resignation. The Trustee may resign at any time upon sixty (60)
            -----------
days' notice in writing to the Sponsor, unless a shorter period of notice is
agreed upon by the Sponsor.

       (b)  Removal. The Sponsor may remove the Trustee at any time upon thirty
            -------
(30) days' notice in writing to the Trustee, unless a shorter period of notice
is agreed upon by the Trustee.

Section 10. Successor Trustee.
            -----------------

       (a)  Appointment. If the office of Trustee becomes vacant for any reason,
            -----------
the Sponsor may in writing appoint a successor trustee under this Agreement. The
successor trustee shall have all of the rights, powers, privileges, obligations,
duties, liabilities, and immunities granted to the Trustee under this Agreement.
The successor trustee and predecessor trustee shall not be liable for the acts
or omissions of the other with respect to the Trust.

       (b)  Acceptance. As of the date the successor trustee accepts its
            ----------
appointment under this Agreement, title to and possession of the Trust assets
shall immediately vest in the successor trustee without any further action on
the part of the predecessor trustee, except as may be required to evidence such
transition. The predecessor trustee shall execute all instruments and do all
acts that may be reasonably necessary and requested in writing by the Sponsor or
the successor trustee to vest title to all Trust assets in the successor trustee
or to deliver all Trust assets to the successor trustee.

       (c)  Corporate Action. Any successor to the Trustee or successor trustee,
            ----------------
either through sale or transfer of the business or trust department of the
Trustee or successor trustee, or through reorganization, consolidation, or
merger, or any similar transaction of either the Trustee or successor trustee,
shall, upon consummation of the transaction, become the successor trustee under
this Agreement.

Section 11. Termination. This Agreement may be terminated in full, or with
            -----------
respect to only a portion of the Plan (i.e., a "partial deconversion") at any
time by the Sponsor upon thirty (30) days' notice in writing to the Trustee. As
of the date of the termination of this Agreement, the Trustee shall transfer and
deliver to such individual or entity as the Sponsor shall designate, all cash
and assets then constituting the Trust. If, by the termination date, the Sponsor
has not notified the Trustee in writing as to the individual or entity to which
the assets and cash are to be transferred and delivered, the Trustee may bring
an appropriate action or proceeding for leave to deposit the assets and cash in
a court of competent jurisdiction. The Trustee shall be reimbursed by the
Sponsor for all direct costs and expenses of the action or proceeding including,
without limitation, reasonable attorneys' fees and disbursements.

Notwithstanding the foregoing, this Agreement shall terminate in its entirety
when there are no assets

                                       26

<PAGE>

remaining in the Trust.

Section 12. Resignation, Removal, and Termination Notices. All notices of
            ---------------------------------------------
resignation, removal, or termination under this Agreement must be in writing and
mailed to the party to which the notice is being given by certified or
registered mail, return receipt requested, to the Sponsor c/o Vice President and
General Counsel, FMC Technologies, Inc., 200 Randolph Drive, Chicago, Illinois
60601, and to the Trustee c/o Legal Department, ERISA Group, Fidelity
Investments, 82 Devonshire Street, Boston, Massachusetts 02109, or to such other
addresses as the parties have notified each other of in the foregoing manner.

Section 13. Duration. This Trust shall continue in effect without limit as to
            --------
time, subject, however, to the provisions of this Agreement relating to
amendment, modification, and termination thereof.

Section 14. Amendment or Modification. This Agreement may be amended or modified
            -------------------------
at any time and from time to time only by an instrument executed by both the
Sponsor and the Trustee whose consent shall not be unreasonably withheld or
delayed. The individuals authorized to sign such instrument shall be those
authorized by the Sponsor on Schedule "E."

Section 15. Electronic Services.
            -------------------

     (a)    The Trustee may provide communications and services ("Electronic
Services") and/or software products ("Electronic Products") via electronic
media, including, but not limited to Fidelity Plan Sponsor WebStation. The
Sponsor and its agents agree to use such Electronic Services and Electronic
Products only in the course of reasonable administration of or participation in
the Plan and to keep confidential and not publish, copy, broadcast, retransmit,
reproduce, commercially exploit or otherwise redisseminate the Electronic
Products or Electronic Services or any portion thereof without the Trustee's
written consent, except, in cases where Trustee has specifically notified the
Sponsor that the Electronic Products or Services are suitable for delivery to
Participants, for non-commercial personal use by Participants or beneficiaries
with respect to their participation in the plan or for their other retirement
planning purposes.

     (b)    The Sponsor shall be responsible for installing and maintaining all
Electronic Products, (including any programming required to accomplish the
installation) and for displaying any and all content associated with Electronic
Services on its computer network and/or Intranet so that such content will
appear exactly as it appears when delivered to Sponsor. All Electronic Products
and Services shall be clearly identified as originating from the Trustee or its
affiliate. The Sponsor shall promptly remove Electronic Products or Services
from its computer network and/or Intranet, or replace the Electronic Products or
Services with updated products or services provided by the Trustee, upon written
notification

                                       27

<PAGE>

(including written notification via facsimile) by the Trustee.

       (c)  All Electronic Products shall be provided to the Sponsor without any
express or implied legal warranties or acceptance of legal liability by the
Trustee, and all Electronic Services shall be provided to the Sponsor without
acceptance of legal liability related to or arising out of the electronic nature
of the delivery or provision of such Services. Except as otherwise stated in
this Agreement, no rights are conveyed to any property, intellectual or
tangible, associated with the contents of the Electronic Products or Services
and related material. The Trustee hereby grants to the Sponsor a non-exclusive,
non-transferable revocable right and license to use the Electronic Products and
Services in accordance with the terms and conditions of this Agreement.

       (d)  To the extent that any Electronic Products or Services utilize
Internet services to transport data or communications, the Trustee will take,
and Sponsor agrees to follow, reasonable security precautions, however, the
Trustee disclaims any liability for interception of any such data or
communications. The Trustee reserves the right not to accept data or
communications transmitted via electronic media by the Sponsor or a third party
if it determines that the media does not provide adequate data security, or if
it is not administratively feasible for the Trustee to use the data security
provided. The Trustee shall not be responsible for, and makes no warranties
regarding access, speed or availability of Internet or network services, or any
other service required for electronic communication. The Trustee shall not be
responsible for any loss or damage related to or resulting from any changes or
modifications made by the Sponsor without direction from the Trustee to the
Electronic Products or Services after delivering it to the Sponsor.

Section 16. Assignment. This Agreement, and any of its rights and obligations
            ----------
hereunder, may not be assigned by any party without the prior written consent of
the other party(ies), which consent shall not be unreasonably withheld. All
provisions in this Agreement shall extend to and be binding upon the parties
hereto and their respective successors and permitted assigns.

Section 17. Force Majeure. No party shall be deemed in default of this Agreement
            -------------
to the extent that any delay or failure in performance of its obligation(s)
results, without its fault or negligence, from any cause beyond its reasonable
control, such as acts of God, acts of civil or military authority, embargoes,
epidemics, war riots, insurrections, fires, explosions, earthquakes, floods,
unusually severe weather conditions, power outages or strikes. This clause shall
not excuse any of the parties to the Agreement from any liability which results
from failure to have in place reasonable disaster recovery and safeguarding
plans adequate for protection of all data each of the parties to the Agreement
are responsible for maintaining for the Plan.

Section 18. Confidentiality. Both parties to this Agreement recognize that in
            ---------------
the course of

                                       28

<PAGE>

implementing and providing the services described herein, each party may
disclose to the other Confidential Information. All such Confidential
Information, individually and collectively, and other proprietary information
disclosed by either party shall remain the sole property of the party disclosing
the same, and the receiving party shall have no interest or rights with respect
thereto if so designated by the disclosing party to the receiving party. Each
party agrees to maintain all such Confidential Information in trust and
confidence to the same extent that it protects its own proprietary information,
and not to disclose such Confidential Information to any third party without the
written consent of the other party. Each party further agrees to take all
reasonable precautions to prevent any unauthorized disclosure of Confidential
Information. In addition, each party agrees not to disclose or make public to
anyone, in any manner, the terms of this Agreement, except as required by law,
without the prior written consent of the other party.

Section 19. General.
            -------

       (a)  Performance by Trustee, its Agents or Affiliates. The Sponsor
            ------------------------------------------------
acknowledges and authorizes that the services to be provided under this
Agreement shall be provided by the Trustee, its agents or affiliates, or the
successor to any of them, and that such services shall conform to the terms of
this Agreement.

       (b)  Entire Agreement. This Agreement together with the schedules
            ----------------
attached hereto, and the letter between Fidelity and FMC Technologies, Inc.
dated September 28, 2001, (which letter is incorporated by reference solely with
respect to the calculation of the fees as detailed on Schedule B hereto), which
are hereby incorporated by reference, contain all of the terms agreed upon
between the parties with respect to the subject matter hereof. The use of
capitalized terms in the schedules shall have the meaning as defined herein.

       (c)  Waiver. No waiver by either party of any failure or refusal to
            ------
comply with an obligation hereunder shall be deemed a waiver of any other
obligation hereunder or any subsequent failure or refusal to comply with any
other obligation hereunder.

       (d)  Successors and Assigns. The stipulations in this Agreement shall
            ----------------------
inure to the benefit of, and shall bind, the successors and assigns of the
respective parties.

       (e)  Partial Invalidity. If any term or provision of this Agreement or
            ------------------
the application thereof to any person or circumstances shall, to any extent, be
invalid or unenforceable, the remainder of this Agreement, or the application of
such term or provision to persons or circumstances other than those

                                       29

<PAGE>

as to which it is held invalid or unenforceable, shall not be affected thereby,
and each term and provision of this Agreement shall be valid and enforceable to
the fullest extent permitted by law.

       (f)  Insurance. The Trustee shall maintain insurance to cover liabilities
            ---------
and losses occurring by reason of acts or omissions of the Trustee including,
but not limited to, losses sustained as the direct result of dishonest or
fraudulent acts committed by its employees, computer crime and physical loss.

       (g)  Section Headings. The headings of the various sections and
            ----------------
subsections of this Agreement have been inserted only for the purposes of
convenience and are not part of this Agreement and shall not be deemed in any
manner to modify, explain, expand or restrict any of the provisions of this
Agreement.

Section 20. Governing Law.
            -------------

       (a)  ERISA Controls. This Agreement is being made in the Commonwealth of
            --------------
Massachusetts, and the Trust shall be administered as a qualified trust as
defined under section 401(a) of the Code which is entitled to tax exemption
under section 501(a) of the Code; and shall at all times be maintained as a
domestic trust in the United States. The validity, construction, effect, and
administration of this Agreement shall be governed by and interpreted in
accordance with the laws of ERISA and the Commonwealth of Massachusetts, except
to the extent those laws conflict, in which case, the provisions of ERISA
prevail.

       (b)  Trust Agreement Controls. The Trustee is not a party to the Plan,
            ------------------------
and in the event of any conflict between the provisions of the Plan and the
provisions of this Agreement, the provisions of this Agreement shall control
with respect to the rights, duties and responsibilities of the Trustee, in all
other instances the Plan shall control.

Section 21. Plan Qualification. The Plan is intended to be qualified under
            ------------------
section 401(a) of the Code and the Trust established hereunder is intended to be
tax-exempt under section 501(a) of the Code. A confirmation of the Plan's
current qualified status is attached hereto as Schedule "F," and the Sponsor
shall provide a copy of any determination letter regarding the Plan's
qualification upon request by the Trustee. The Sponsor has the sole
responsibility for ensuring the Plan's qualified status and full compliance with
the applicable requirements of ERISA. The Sponsor hereby certifies that it has
furnished to the Trustee a complete copy of the Plan and all amendments thereto
in effect as of the date of this Agreement.

                                       30

<PAGE>

     IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
executed by their duly authorized officers as of the day and year first above
written.

                                         FMC TECHNOLOGIES, INC.

Attest: /s/ Lori A. Lenard               By:    /s/ Michael W. Murray
        ----------------------------            --------------------------------
        Assistant General Counsel

                                         Name:  Michael W. Murray
                                                --------------------------------

                                         Title: Vice President - Human Resources
                                                --------------------------------

                                         Date:  September 28, 2001
                                                --------------------------------

                                         FIDELITY MANAGEMENT TRUST COMPANY

Attest: /s/ Douglas O. Kent              By:    /s/ Carolyn Redden
        ----------------------------            --------------------------------
        Assistant Clerk

                                         Name:  Carolyn Redden
                                                --------------------------------

                                         Title: Vice President
                                                --------------------------------

                                         Date:  October 9, 2001
                                                --------------------------------

                                       31

<PAGE>

                                  Schedule "A"

                    RECORDKEEPING AND ADMINISTRATIVE SERVICES
                    -----------------------------------------

This Schedule "A" summarizes the recordkeeping and administrative services to be
provided by Fidelity with respect to the Plan. Fidelity will provide the
recordkeeping and administrative services set forth in this Agreement and
specifically as detailed in the PAM, or as otherwise agreed to in writing (or by
means of a secure electronic medium) between Sponsor and Trustee. The Trustee
may unilaterally add or enhance services, provided there is no impact on the
fees set forth in Schedule "B." Generally, such administrative services include:

Plan Administration
-------------------

* Establishment and maintenance of Participant account and election percentages.

* Maintenance of the Plan investment options set forth on Schedule "C."

* Maintenance of the following money classifications:

     . Basic Pre-Tax
     . Supplemental Pre-Tax
     . Pre-Tax Match
     . Basic After-Tax
     . Supplemental After-Tax
     . After-Tax Match
     . Rollover
     . Prior Plan Company Match
     . Prior Plan Match
     . Prior Plan Rollover

A)   Participant Services

          Establishment and maintenance of a Participant Telephone System, an
          automated voice response system and on-line account access via the
          World Wide Web providing the following services:

          .    Enroll new Participants. Confirmation of enrollment will be
               provided on-line or if requested, by mail (generally within five
               (5) calendar days of the request).

          .    Provide Plan investment option information.

          .    Provide and maintain information and explanations about Plan
               provisions.

          .    Respond to requests for literature.

                                       32

<PAGE>

                            Schedule "A" (continued)
                                          ---------

          .    Allow Participants to change their deferral and after-tax
               percentages and provide updates via EDT for the Sponsor to apply
               to its payrolls accordingly.

          .    Maintain and process changes to Participants' contribution
               allocations for all money sources.

          .    Process exchanges (transfers) between investment options on a
               daily basis.

          .    Process in-service withdrawals due to certain circumstances
               previously approved by the Sponsor.

          .    Process hardship withdrawals due to certain circumstances
               previously approved by the Sponsor and in accordance with the
               procedures set forth in the PAM.

          .    Consult with Participants on various loan scenarios and generate
               all documentation.

B)   Plan accounting services, including

     1.   Process payroll contributions according to the Sponsor's payroll
          frequency via EDT, magnetic tape or diskette. The data format will be
          provided by Trustee.

     2.   Maintain and update employee data necessary to support plan
          administration. The data will be submitted according to payroll
          frequency.

     3.   Provide daily Plan and Participant level accounting for all Plan
          investment options.

     4.   Provide daily Plan and Participant level accounting for all money
          classifications for the Plan.

     5.   Audit and reconcile the Plan and Participant accounts daily.

     6.   Reconcile and process Participant withdrawal requests and
          distributions as approved and directed by the Sponsor. All requests
          are paid based on the current market values of Participants' accounts,
          not advanced or estimated values. A distribution report will accompany
          each check.

     7.   Track individual Participant loans; process loan withdrawals;
          re-invest loan repayments; and prepare and deliver comprehensive
          reports to the Sponsor to assist in the administration of Participant
          loans.

     8.   Maintain and process changes to Participants' deferral percentage and
          prospective and existing investment mix elections.

C)   Participant reporting services, including

     1.   Provide confirmation to Participants of all Participant initiated
          transactions either online or via the mail. Online confirms are
          generated upon submission of a transaction and

                                       33

<PAGE>

                            Schedule "A" (continued)
                                          ---------

          mail confirms are mailed by Fidelity to the Participant's home address
          within three to five calendar days of the transaction.

     2.   Provide Participants with quarterly statements reflecting all activity
          for the period via first class mail. Participants who elect to
          generate their statements electronically via NetBenefits will not
          receive paper statements unless otherwise requested by the
          Participant.

     3.   Provide Participants with required Code (S)402(f) notification for
          distributions from the Plan. This notice advises Participants of the
          tax consequences of their Plan distributions.

     4.   Provide Participants with required Code (S)411(a)(11) notification for
          distributions from the Plan. This notice advises Participants of the
          normal and optional forms of payment of their Plan distributions.

D)   Plan reporting services, including

     1.   Prepare, reconcile and deliver a monthly Trial Balance Report
          presenting all money classes and investments. This report is based on
          the market value as of the last business day of the month. The report
          will be delivered not later than twenty (20) calendar days after the
          end of each month in the absence of unusual circumstances.

     2.   Prepare, reconcile and deliver a Quarterly Administrative Report
          presenting both on a Participant and a total Plan basis all money
          classes, investment positions and a summary of all activity of the
          Participant and Plan as of the last business day of the quarter. The
          report will be delivered not later than twenty (20) calendar days
          after the end of each quarter in the absence of unusual circumstances.

     3.   Provide such other reports as mutually agreed upon by the parties.

E)   Government reporting services, including

     1.   Process year-end tax reports for Participants - Forms 1099-R, as well
          as financial reporting to assist in the preparation of Form 5500.

F)   Communication and education services, including

     1.   Design, produce and distribute a customized comprehensive
          communications program for employees. The program may include
          multimedia informational materials, investment education and planning
          materials, access to Fidelity's homepage on the Internet and STAGES
          magazine. Additional fees for such services may apply as mutually
          agreed upon between Sponsor and Trustee.

     2.   Provide Fidelity Portfolio Planner(SM) an internet-based educational
          service for Participants that generates target asset allocations and
          model portfolios customized to investment options in the Plan based
          upon methodology provided by Strategic Advisers, Inc., an affiliate of
          the Trustee. The Sponsor acknowledges that it has received the ADV

                                       34

<PAGE>

                            Schedule "A" (continued)
                                          ---------

          Part II for Strategic Advisers, Inc. more than 48 hours prior to
          executing the Trust agreement.

G)   Other services, including

     1.   Non-Discrimination Testing: Perform non-discrimination limitation
          testing, as detailed in the PAM. In order to obtain this service, the
          Sponsor shall be required to provide the information identified in the
          Fidelity Discrimination Testing Package Guidelines.

     2.   Plan Sponsor Webstation: The Fidelity Participant Recordkeeping System
          is available on-line to the Sponsor via the Plan Sponsor Webstation
          ("PSW"). PSW is a graphical, Windows-based application that provides
          current plan and Participant-level information, including indicative
          data, account balances, activity and history.

     3.   Change of Address by Telephone: The Trustee shall allow terminated and
          retired Participants to make address changes via Fidelity's toll-free
          telephone service.

     4.   Other administrative services as detailed in the PAM.

                                       35

<PAGE>

                                  SCHEDULE "B"

                                      FEES
                                      ----

--------------------------------------------------------------------------------
Plan Set Up Fee                         One time fee of $36,500 payable in full
                                        by Sponsor upon project completion, but
                                        no later than 90 days following
                                        completion
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Annual Participant Fee:                 $25.00 per participant billed and
                                        automatically deducted by Trustee from
                                        participants' accounts quarterly.  This
                                        fee will be imposed pro rata for each
                                        calendar quarter or any part thereof,
                                        that it remains necessary to keep a
                                        participant's account(s) as part of the
                                        Plan's records, e.g. vested, deferred,
                                        forfeiture and terminated Participants
                                        who must remain on file through calendar
                                        year-end for reporting purposes.
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Enrollments by Phone:                   $5.00 per non-active employee residing
                                        on Fidelity's participant recordkeeping
                                        system; to be paid quarterly by Sponsor
                                        directly to Trustee.
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Loan Fee:                               Establishment fee of $75.00 per loan
                                        account; to be automatically deducted
                                        quarterly by Trustee from participants'
                                        accounts.
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
In-Service Withdrawals by Phone         $20.00 per withdrawal; to be
                                        automatically deducted quarterly by
                                        Trustee from participants' accounts.
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Return of Excess Contribution Fee       $25.00 per participant percalculation
                                        and check generation; to be paid
                                        quarterly by Sponsor directly to
                                        Trustee.
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Plan Sponsor Webstation (PSW)           Three User IDs provided free of charge.
                                        Additional IDs available upon request.
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
QDRO Qualification                      $750.00 per order; to be paid quarterly
                                        by Sponsor directly to Trustee.
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Minimum Required Distributions:         $25.00 per MRD participant per year; to
                                        be automatically deducted quarterly by
                                        Trustee from participants' accounts.
--------------------------------------------------------------------------------

                                       36

<PAGE>

                            SCHEDULE "B" (continued)
                                          ---------
<TABLE>
<S>                                             <C>
-------------------------------------------------------------------------------------------------------------------
Non-Fidelity Mutual Funds                       Clipper Fund:  .25% service fee*
                                                Sequoia Fund:  0% service fee**
                                                MAS Mid Cap Growth Fund (Administrative Class): .35%
                                                service fee PIMCO Total Return Fund (Administrative Class): .25%
                                                service fee
                                                Mutual Qualified (Z Class): 0% service fee

                                                All such fees shall be paid directly to Trustee by each Non-Fidelity
                                                Mutual Fund vendor.

                                                *To the extent Clipper has not agreed to this fee schedule, any
                                                resulting loss in service fees to Trustee shall be made up by a
                                                corresponding increase in the Trustee's fees.

                                                **To the extent Sequoia agrees to a fee schedule, any resulting
                                                increase in service fees to Trustee shall be offset by a
                                                corresponding reduction in the Trustee's fees.

-------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------
Assets invested in Fidelity Managed Income      .25% service fee; to be deducted from the fund's overall
Portfolio II                                    performance.
-------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------
Stock Administration Fee                        To the extent that assets are invested in the FMC Technologies
                                                Stock Fund and/or the FMC Stock Fund, .10% of such assets in each
                                                stock fund in the Trust payable by the Sponsor to the Trustee pro
                                                rata quarterly on the basis of such assets as of the calendar
                                                quarter's last valuation date, but no less than $10,000 and no
                                                greater than $115,000 in total for both stock funds.
-------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------
Non-Discrimination Testing                      Sponsor has contracted with Trustee to perform non-discrimination
                                                testing and may continue to do so in the future. Fees for all such
                                                services will be at the then applicable rates, as agreed to by the
                                                Sponsor prior any tests being completed.
-------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------
Other Fees                                      Separate charges for extraordinary expenses resulting from large
                                                numbers of simultaneous manual transactions; from errors not caused
                                                by Fidelity; reports not contemplated in this Agreement and
                                                extraordinary expenses resulting from Sponsor's corporate actions.
                                                The Administrator may provide the Trustee with written direction to
                                                deduct administrative fees from the Trust.

                                                All Communications will be fee for service, other than Stages and
                                                postage for literature fulfillment and quarterly statements.
-------------------------------------------------------------------------------------------------------------------
</TABLE>

                                       37

<PAGE>

                                  Schedule "C"

                               INVESTMENT OPTIONS
                               ------------------

     In accordance with Section 5(b), the Named Fiduciary hereby directs the
Trustee that Participants' individual accounts may be invested in the following
investment options:

     .  Sequoia Fund

     .  Clipper Fund

     .  Mutual Qualified Fund (Class Z)

     .  MAS Mid Cap Growth Fund

     .  PIMCo Total Return Fund

     .  FMC Corporation Stock Fund (defined herein as "FMC Stock Fund")(frozen
        to contributions and exchanges in as soon as administratively feasible
        after Spin-Off Date)

     .  FMC Technologies, Inc. Stock Fund (defined herein as "FMC Technologies
        Stock Fund")

     .  Fidelity Puritan Fund

     .  Fidelity Magellan Fund

     .  Fidelity Capital & Income Fund

     .  Fidelity Blue Chip Growth Fund

     .  Fidelity Diversified International Fund

     .  Fidelity Low Priced Stock Fund

     .  Fidelity Freedom Income Fund

     .  Fidelity Freedom 2000 Fund

     .  Fidelity Freedom 2010 Fund

     .  Fidelity Freedom 2020 Fund

     .  Fidelity Freedom 2030 Fund

     .  Fidelity Freedom 2040 Fund

     .  Fidelity Retirement Government Money Market Portfolio

     .  Fidelity U.S. Equity Commingled Pool

     .  MIP II Blend Fund

     The Named Fiduciary hereby directs that the investment option referred to
in Section 5(c), Section 5(e)(vii)(B)(5) and Section 5(e)(xvii)(B)(5) shall be
the Fidelity Retirement Government Money Market Portfolio.

                                       38

<PAGE>

                                  Schedule "D"

                       AUTHORIZED SIGNERS (ADMINISTRATOR)
                       ----------------------------------

                       [FMC Technologies, Inc. Letterhead]

                               September 28, 2001

Kelli Birtwell
Fidelity Investments Institutional Operations Company, Inc.
300 Puritan Way - MM3H
Marlborough, MA 01752-3078

               FMC Technologies, Inc. Savings and Investment Plan
               --------------------------------------------------

Dear Ms. Birtwell:

         This letter is sent to you in accordance with Section 8(b) of the Trust
Agreement, dated as of September 28, 2001, between FMC Technologies, Inc.
("Sponsor") and Fidelity Management Trust Company. The Sponsor hereby designates
David J. Kostelansky, Stephanie K. Kushner and Michael W. Murray as the
individuals who may provide directions on behalf of the Administrator upon which
Fidelity Management Trust Company shall be fully protected in relying. Only one
such individual need provide any direction. The signature of each designated
individual is set forth below and certified to be such.

         You may rely upon each designation and certification set forth in this
letter until the Sponsor delivers to you written notice of the termination of
authority of a designated individual.

                        Very truly yours,

                        /s/ Michael W. Murray
                        By: Member, FMC Technologies, Inc. Employee Welfare
                        Benefits Plan Committee

 /s/ David J. Kostelansky
----------------------------------
David J. Kostelansky

 /s/ Stephanie K. Kushner
----------------------------------
Stephanie K. Kushner

 /s/ Michael W. Murray
----------------------------------
Michael W. Murray

                                       39

<PAGE>

                                  Schedule "E"

                      AUTHORIZED SIGNERS (NAMED FIDUCIARY)
                      ------------------------------------

                       [FMC Technologies, Inc. Letterhead]

                               September 28, 2001

Kelli Birtwell
Fidelity Investments Institutional Operations Company, Inc.
300 Puritan Way - MM3H
Marlborough, MA 01752-3078

               FMC Technologies, Inc. Savings and Investment Plan
               --------------------------------------------------

Dear Ms. Birtwell:

         This letter is sent to you in accordance with Section 8(c) of the Trust
Agreement, dated as of September 28, 2001, between FMC Technologies, Inc. and
Fidelity Management Trust Company. The Board of Directors of FMC Technologies,
Inc. has designated the FMC Technologies, Inc. Employee Welfare Benefits Plan
Committee ("Committee") as the Named Fiduciary upon which Fidelity Management
Trust Company shall be fully protected in relying. The current members of the
Committee are Jeffrey W. Carr, Kenneth R. Garrett, Michael W. Murray and William
H. Schumann III. At least two members of the Committee must provide any
direction. The signature of each current member of the Committee is set forth
below and certified to be such.

         You may rely upon each designation and certification set forth in this
letter until FMC Technologies, Inc. delivers to you written notice of the
termination of authority of a designated individual.

                        Very truly yours,

                        /s/ Michael W. Murray

                        --------------------------------------------------------
                        By: Member, FMC Technologies, Inc. Employee Welfare
                        Benefits Plan Committee

/s/ Jeffrey W. Carr                   /s/ Michael W. Murray
---------------------------------    -------------------------------------------
Jeffrey W. Carr                       Michael W. Murray

/s/ Kenneth R. Garrett                /s/ William H. Schumann III
---------------------------------    -------------------------------------------
Kenneth R. Garrett                    William H. Schumann III

                                       40

<PAGE>

                                  Schedule "F"

                          STATEMENT OF QUALIFIED STATUS
                          -----------------------------

                        FMC Technologies, Inc. Letterhead

                               September 28, 2001

Kelli Birtwell
Fidelity Investments Institutional Operations Company, Inc.
300 Puritan Way - MM3H
Marlborough, MA 01752-3078

           FMC Technologies, Inc. Savings and Investment Plan ("Plan")

Dear Ms. Birtwell:

         In accordance with your request, this letter confirms that the Plan is
intended to be qualified under section 401(a) of the Internal Revenue Code of
1986 (including amendments made by the Employee Retirement Income Security Act
of 1974) (the "Code").

         The Plan is a spin-off from the FMC Corporation Savings and Investment
Plan and the FMC Corporation Savings and Investment Plan for Bargaining Unit
Employees ("FMC Plans"). The most recent favorable determination letters as to
the qualified status under section 401(a) of the Code of the FMC Plans are
attached.

         If the determination letter program is continued, FMC Technologies,
Inc. intends to submit the Plan to the Internal Revenue Service to request a
favorable determination letter as to the Plan's qualified status under section
401(a) of the Code. FMC Technologies, Inc. may have to make some modifications
to the Plan at the request of the Internal Revenue Service in order to obtain
this favorable determination letter, but we do not expect any of these
modifications to be material. FMC Technologies, Inc. anticipates that it will
make these modifications.

                                    Sincerely,

                                    /s/ Lori A. Lenard

                                    By: Lori A. Lenard
                                        Assistant General Counsel

                                       41

<PAGE>

                                  Schedule "G"

                          EXISTING INVESTMENT CONTRACTS
                          -----------------------------

In Accordance with Section 5(b) the Named Fiduciary states that the Trustee
shall hold the following Existing Investment Contracts with investment
discretion:

          -- Contract Issuer: CDC Financial Products

          -- Contract Number: BR391-01

          -- Maturity Date: 1-27-03

          -- Contract Issuer: Combined

          -- Contract Number: CG1077

          -- Maturity Date: 5-1-02

          -- Contract Issuer: Monumental Life

          -- Contract Number: ADA00577FR-00

          -- Maturity Date: 12-3-01

          -- Contract Issuer: Monumental Life

          -- Contract Number: BDA00725FR-00

          -- Maturity Date: 12-31-01

                                       42

<PAGE>

                                  Schedule "H"

                               EXCHANGE GUIDELINES
                               -------------------

The following exchange guidelines are currently employed by FIIOC.

Exchange hours, via a Fidelity participant service representative, are 8:30 a.m.
(ET) to 12:00 midnight (ET) on each Business Day. Exchanges via VRS and the
internet (NetBenefits) may be made virtually 24 hours a day.

FIIOC reserves the right to change these exchange guidelines at its discretion.

Note: The NYSE's normal closing time is 4:00 p.m. (ET); in the event the NYSE
alters its closing time, all references below to 4:00 p.m. (ET) shall mean the
NYSE closing time as altered.

                                  Mutual Funds
                                  ------------

Exchanges Between Mutual Funds
------------------------------

Participants may call on any Business Day to exchange between the Mutual Funds.
If the request is confirmed before 4:00 p.m. (ET), it will receive that day's
trade date. Requests confirmed after 4:00 p.m. (ET) will be processed on a next
Business Day basis.

                                MIP II Blend Fund
                                -----------------

I.   Exchanges Between Mutual Funds and the MIP II Blend Fund
     --------------------------------------------------------

     Participants who wish to exchange between a Mutual Fund and the MIP II
     Blend Fund may call on any Business Day. If the request is confirmed before
     4:00 p.m. (ET), it will receive that day's trade date. Requests confirmed
     after 4:00 p.m. (ET) will be processed on a next Business Day basis.

II.  Exchange Restrictions
     ---------------------

     Participants will not be permitted to make direct transfers from the MIP II
     Blend Fund into a competing fund. Participants who wish to exchange from
     the MIP II Blend Fund into a competing fund must first exchange into a
     non-competing fund for a period of 90 days.

                                       43

<PAGE>

                            Schedule "H" (continued)
                                          ---------

                                 FMC Stock Fund
                                 --------------

In accordance with Schedule "J" (Specified Hierarchy) for the FMC Stock Fund,
the following rules will govern exchanges:

I.   Exchanges From Mutual Funds or the MIP II Blend Fund to the FMC Stock Fund
     --------------------------------------------------------------------------

     Prior to the Spin-Off Date, participants may contact Fidelity on any day to
     exchange from Mutual Funds or the MIP II Blend Fund into the FMC Stock
     Fund. If the request is confirmed before the close of the market (generally
     4:00 p.m. ET) on a Business Day, it will receive that day's trade date.
     Requests confirmed after the close of the market on a business day (or on
     any day other than a business day) will be processed on a next Business Day
     Basis. From and after the Spin-Off Date exchanges into the FMC Stock Fund
     are prohibited.

II.  Exchanges From the FMC Stock Fund to Mutual Funds or the MIP II Blend Fund
     --------------------------------------------------------------------------

     For periods prior to the Spin-Off Date, Participants may not exchange out
     of the FMC Stock Fund with respect to any matching employer contribution
     sources. From and after the Spin-Off Date with respect to matching employer
     contribution sources, and with respect to all other sources, participants
     may contact Fidelity on any day to exchange from the FMC Stock Fund into a
     Mutual Fund or the MIP II Blend Fund. If Fidelity receives the request
     before the close of the market (generally 4:00 p.m. ET) on any Business Day
     and Available Liquidity is sufficient to honor the trade after Specified
     Hierarchy rules are applied, it will receive that day's trade date.
     Requests received by Fidelity after the close of the market on any Business
     Day (or on any day other than a Business Day) will be processed on a next
     Business Day basis, subject to Available Liquidity for such day after
     application of Specified Hierarchy rules. If Available Liquidity on any day
     is insufficient to honor the trade after application of Specified Hierarchy
     rules, it will be suspended until Available Liquidity is sufficient, after
     application of Specified Hierarchy rules, to honor such trade, and it will
     receive the trade date and Closing Price of the date on which it was
     processed.

                           FMC Technologies Stock Fund
                           ---------------------------

In accordance with Schedule "K" (Specified Hierarchy) for the FMC Technologies
Stock Fund, the following rules will govern exchanges:

                                       44

<PAGE>

                            Schedule "H" (continued)
                                          ---------

I.   Exchanges From Mutual Funds or the MIP II Blend Fund to the FMC
     ---------------------------------------------------------------S
     Technologies Stock Fund
     -----------------------

     Participants may contact Fidelity on any day to exchange from Mutual
     Funds or the MIP II Blend Fund into the FMC Technologies Stock Fund. If
     the request is confirmed before the close of the market (generally 4:00
     p.m. ET) on a Business Day, it will receive that day's trade date.
     Requests confirmed after the close of the market on a business day (or
     on any day other than a business day) will be processed on a next
     Business Day Basis.

II.  Exchanges From the FMC Technologies Stock Fund to Mutual Funds or the MIP
     --------------------------------------------------------------------------
     II Blend Fund
     -------------

     Participants may not exchange out of the FMC Technologies Stock Fund
     with respect to any matching employer contribution sources. With
     respect to all other sources, participants may contact Fidelity on any
     day to exchange from the FMC Technologies Stock Fund into a Mutual Fund
     or the MIP II Blend Fund. If Fidelity receives the request before the
     close of the market (generally 4:00 p.m. ET) on any Business Day and
     Available Liquidity is sufficient to honor the trade after Specified
     Hierarchy rules are applied, it will receive that day's trade date.
     Requests received by Fidelity after the close of the market on any
     Business Day (or on any day other than a Business Day) will be
     processed on a next Business Day basis, subject to Available Liquidity
     for such day after application of Specified Hierarchy rules. If
     Available Liquidity on any day is insufficient to honor the trade after
     application of Specified Hierarchy rules, it will be suspended until
     Available Liquidity is sufficient, after application of Specified
     Hierarchy rules, to honor such trade, and it will receive the trade
     date and Closing Price of the date on which it was processed.

                                       45

<PAGE>

                                  Schedule "I"

              OPERATIONAL GUIDELINES FOR NON-FIDELITY MUTUAL FUNDS
              ----------------------------------------------------

Pricing

By 7:00 p.m. Eastern Time ("ET") each Business Day, the Fund Vendor will input
the following information into FPRS via the remote access price screen that
FIIOC has provided to the Fund Vendor: (1) the net asset value for each Fund at
the close of trading, (2) the change in each Fund's net asset value from the
close of trading on the prior Business Day, and (3) in the case of an income
fund or funds, the mil rate. FIIOC must receive such information each Business
Day. If on any Business Day the Fund Vendor does not provide such information to
FIIOC, FIIOC shall pend all associated transaction activity in the FPRS until
the relevant Price Information is made available by Fund Vendor.

Trade Activity and Wire Transfers

By 7:00 a.m. ET each Business Day following Trade Date FIIOC will provide, via
facsimile, to the Fund Vendor a consolidated report of net purchase or net
redemption activity that occurred in each Fund up to 4:00 p.m. ET on the prior
Business Day. The report will reflect the dollar amount of assets and shares to
be invested or withdrawn for each Fund. FIIOC will transmit this report to the
Fund Vendor each Business Day, regardless of processing activity. In the event
that data contained in the 7:00 a.m. ET facsimile transmission represents
estimated trade activity, FIIOC shall provide a final facsimile to the Fund
Vendor by no later than 9:00 a.m. ET. Any resulting adjustments shall be
processed by the Fund Vendor at the net asset value for the prior Business Day.

The Fund Vendor shall send via regular mail to FIIOC transaction confirms for
all daily activity in each Fund. The Fund Vendor shall also send via regular
mail to FIIOC, by no later than the fifth Business Day following calendar month
close, a monthly statement for each Fund. FIIOC agrees to notify the Fund Vendor
of any balance discrepancies within twenty (20) Business Days of receipt of the
monthly statement.

For purposes of wire transfers, FIIOC shall transmit a daily wire for aggregate
purchase activity and the Fund Vendor shall transmit a daily wire for aggregate
redemption activity, in each case including all activity across all Funds
occurring on the same day.

Prospectus Delivery

FIIOC shall be responsible for the timely delivery of Fund prospectuses and
periodic Fund reports to Participants, and shall retain the services of a
third-party vendor to handle such mailings. The Fund Vendor shall be responsible
for all materials and production costs, and hereby agrees to provide Fund
prospectuses and periodic Fund reports to the third-party vendor selected by
FIIOC. The Fund Vendor shall bear the costs of mailing annual Fund reports to
Participants. FIIOC shall bear the costs of mailing prospectuses to
Participants.

                                       46

<PAGE>

                            Schedule "I" (continued)
                                          ---------

Proxies

The Fund Vendor shall be responsible for all costs associated with the
production of proxy materials. FIIOC shall retain the services of a third-party
vendor to handle proxy solicitation mailings and vote tabulation. Expenses
associated with such services shall be billed directly to the Fund Vendor by the
third-party vendor.

Participant Communications

The Fund Vendor shall provide internally-prepared fund descriptive information
approved by the Funds' legal counsel for use by FIIOC in its written Participant
communication materials. FIIOC shall utilize historical performance data
obtained from third-party vendors (currently Morningstar, Inc., FACTSET Research
Systems and Lipper Analytical Services) in telephone conversations with plan
Participants and in quarterly Participant statements. The Sponsor hereby
consents to FIIOC's use of such materials and acknowledges that FIIOC is not
responsible for the accuracy of such third-party information. FIIOC shall seek
the approval of the Fund Vendor prior to retaining any other third-party vendor
to render such data or materials under this Agreement.

Compensation

FIIOC shall be entitled to fees as set forth in a separate agreement with the
Fund Vendor.

                                       47

<PAGE>

                                  Schedule "J"

     SPECIFIED HIERARCHY - AVAILABLE LIQUIDITY PROCEDURES FOR FMC STOCK FUND
     -----------------------------------------------------------------------

The following procedures shall govern sales of units in the FMC Stock Fund
requested for a day on which Available Liquidity is insufficient:

1.   Loans, withdrawals and distributions will be aggregated and placed first in
     the hierarchy. If Available Liquidity is sufficient for the aggregate of
     such transactions, all such loans, withdrawals and distributions will be
     honored. If Available Liquidity is not sufficient for the aggregate of such
     transactions, then such transactions will be suspended, and no transactions
     requiring the sale of FMC Stock Fund units shall be honored for that day.

2.   If Available Liquidity has not been exhausted by the aggregate of loans,
     withdrawals and distributions, then all remaining transactions involving a
     sale of units in the FMC Stock Fund (exchanges out) shall be grouped on the
     basis of when such requests were received, in accordance with standard
     procedures maintained by the Trustee for such grouping as they may be
     amended from time to time. To the extent of Available Liquidity, groups of
     exchanges out of the FMC Stock Fund shall be honored, by group, on a FIFO
     basis. If Available Liquidity is insufficient to honor all exchanges out
     within a group, then none of the exchanges out in such group shall be
     honored, and no exchanges out in a later group shall be honored.

3.   Transactions not honored on a particular day due to insufficient Available
     Liquidity shall be honored, using the hierarchy specified above, on the
     next business day on which there is Available Liquidity.

                                       48

<PAGE>

                                  Schedule "K"

           SPECIFIED HIERARCHY- AVAILABLE LIQUIDITY PROCEDURES FOR FMC
           -----------------------------------------------------------
                            TECHNOLOGIES STOCK FUND
                            -----------------------

The following procedures shall govern sales of units in the FMC Technologies
Stock Fund requested for a day on which Available Liquidity is insufficient:

1.   Loans, withdrawals and distributions will be aggregated and placed first in
     the hierarchy. If Available Liquidity is sufficient for the aggregate of
     such transactions, all such loans, withdrawals and distributions will be
     honored. If Available Liquidity is not sufficient for the aggregate of such
     transactions, then such transactions will be suspended, and no transactions
     requiring the sale of FMC Technologies Stock Fund units shall be honored
     for that day.

2.   If Available Liquidity has not been exhausted by the aggregate of loans,
     withdrawals and distributions, then all remaining transactions involving a
     sale of units in the FMC Technologies Stock Fund (exchanges out) shall be
     grouped on the basis of when such requests were received, in accordance
     with standard procedures maintained by the Trustee for such grouping as
     they may be amended from time to time. To the extent of Available
     Liquidity, groups of exchanges out of the FMC Technologies Stock Fund shall
     be honored, by group, on a FIFO basis. If Available Liquidity is
     insufficient to honor all exchanges out within a group, then none of the
     exchanges out in such group shall be honored, and no exchanges out in a
     later group shall be honored.

3.   Transactions not honored on a particular day due to insufficient Available
     Liquidity shall be honored, using the hierarchy specified above, on the
     next business day on which there is Available Liquidity.

                                       49

<PAGE>

                                  Schedule "L"

                 INVESTMENT GUIDELINES FOR THE MIP II BLEND FUND
                 -----------------------------------------------

Set forth below are the objectives and guidelines to be followed by Trustee for
the administration of the MIP II Blend Fund (the "Account") within the Plan
established by the Sponsor.

I.  INVESTMENT OBJECTIVES

The primary objective is to seek the preservation of capital. The secondary
objective is to attempt to provide over time a competitive level of income
consistent with the preservation of capital.

II. PORTFOLIO GUIDELINES

The Account shall be invested in the following classes of assets.

    A.  Universe
        --------

         1. Investment Contracts. Investment Contracts ("Contracts") are issued
         by insurance companies, banks or other financial-services institutions
         (the "Issuer(s)") and evidence debt obligations of the applicable
         Contract Issuer(s) to the Plan. Contracts are either collateralized by
         the general underlying assets, or certain specific underlying assets,
         of the Contract Issuer(s).

         All Contracts, at the time of purchase, shall be benefit-responsive,
         which means that they shall provide for benefit withdrawals and
         investment exchanges to be paid at full book-value (i.e., principal
         plus accrued interest). However, withdrawals prompted by an
         employer-initiated-event, such as withdrawals resulting from the sale
         of a division of the Sponsor, a corporate layoff or the addition of
         Plan investment options, for example, may be paid at the Contract's
         market-value, which may be more or less than book-value.

         The interest rate of a particular Contract may be either fixed or
         adjusted periodically according to an index or to reflect the
         performance of certain assets of the Contract Issuer. Maturity dates of
         Contracts may or may not be fixed. Contracts may include, but are not
         limited to, the following:

           .   Fixed-rate contracts
           .   Indexed-rate contracts
           .   Participating-rate contracts
           .   Structured contracts
           .   Separate-account contracts

                                       50

<PAGE>

                            Schedule "L" (continued)
                                          ---------

     2. Synthetic Investment Products. Synthetic investment contract products
     ("Synthetic Products") are comprised of both an investment component and a
     contractual component. The investment component consists of one or more
     securities or shares or units of a pooled portfolio of fixed-income
     securities ("Underlying Investment(s)").

     Underlying Investments may include, but are not limited to, the following:

        .   Asset-backed securities
        .   Mortgage-backed securities
        .   Commercial mortgage-backed securities
        .   Collateralized mortgage obligations
        .   U.S. Treasuries
        .   Securities issued or backed by U.S. government agencies, government-
            sponsored enterprises or similar U.S. government entities or
            instrumentalities
        .   Securities issued by supranational organizations
        .   Structured notes and similar arrangements
        .   Corporate bonds
        .   Private placements (including Rule 144a securities)
        .   Units of commingled pools primarily invested in the above
        .   Shares of mutual funds primarily invested in the above
        .   Money market instruments

     This investment component is "wrapped" by one or more contracts ("Wrap
     Contract(s)") issued by insurance companies, banks or other
     financial-services institutions (the "Wrap Contract Issuers"). Wrap
     Contracts, at the time of purchase, shall be benefit-responsive, which
     means that they shall provide for benefit withdrawals and investment
     exchanges to be paid at the full book-value of the Underlying Investment(s)
     (i.e., principal plus accrued interest). In this manner, Wrap Contracts are
     designed to decrease the normal market fluctuations associated with the
     performance of the Underlying Investments. However, certain withdrawals,
     similar to those described above with respect to Contracts, may be paid at
     the market-value of the Underlying Investment(s) (which may be more or less
     than book-value).

     The interest rate of a particular Synthetic Product may be either fixed or
     adjusted periodically and is in either case tied to the performance of the
     Underlying Investment(s). The maturity date of a particular Synthetic
     Product may be a fixed date or an indeterminate date.

     3. Money Market Investments. Investments may be shares of mutual funds or
     units of commingled pools that are invested primarily in money-market
     instruments.

B. Credit and Diversification Limitations
   --------------------------------------

     1. At the time of purchase, Contract Issuers, Wrap Contract Issuers, and
     Underlying Investments must be deemed to be creditworthy by Trustee.

                                       51

<PAGE>

                            Schedule "L" (continued)
                                          ---------

     2. At the time of purchase, Contract Issuers and Underlying Investments
     must meet the then-current diversification requirements established by
     Trustee.

C. Investment Contract Disclosures
   -------------------------------

     Detailed investment contract disclosures are attached as Appendix A.

D. Special Limitations and Restrictions
   ------------------------------------

     Notwithstanding anything herein to the contrary, the following special
     limitations and restrictions shall apply:

     1. Prior to purchasing for the Plan any class of assets not contemplated by
     the then-existing Investment Guidelines, the Investment Manager shall
     provide, and the Sponsor shall review, the contractual terms and conditions
     to investments in said class of assets that may apply with respect to the
     determination at various times of (i) market value, (ii) book value and
     (iii) the consequences, if any, of termination prior to maturity. If such
     terms and conditions are deemed in the Sponsor's sole discretion to be
     acceptable, the Investment Guidelines shall be amended, upon the mutual
     written consent of the parties, to permit the Account to be invested in
     that class of assets.

     2. The parties hereby acknowledge and agree that these Investment
     Guidelines are not to be employed for the purpose of making new investments
     in additional Account assets, but rather for the primary purpose of
     restructuring the Account assets from time to time as may be deemed
     necessary or appropriate by the Trustee in the Trustee's sole discretion,
     it being expressly understood that as the Account assets mature, all
     available resulting proceeds will be directed to the Managed Income
     Portfolio II of the Fidelity Group Trust for Employee Benefit Plans ("MIP
     II"). Except as detailed below with respect to existing Contracts, the
     Trustee shall use its best efforts to complete the Account's transition to
     MIP II by January 2, 2002.

     With respect to the portion of the Account that is globally wrapped, the
     Trustee shall, if necessary, restructure the assets underlying such global
     wraps (the "Global Wrap Assets") and manage such Global Wrap Assets to an
     immunization date of January 2, 2002. As the Global Wrap Assets mature, any
     available proceeds will be directed to MIP II. Unless directed otherwise,
     upon the latter of (1) the date that the last Global Wrap Asset matures and
     (2) January 2, 2002, the Trustee shall terminate the global wraps and
     transfer all available proceeds to MIP II.

     The Trustee shall terminate the Contract designated CDC Financial Products,
     Inc. #BR391-01 and direct any available proceeds to MIP II no later than
     December 31, 2001. Notwithstanding anything herein to the contrary, unless
     directed otherwise the Trustee shall not terminate any other existing
     Contracts prior to their maturity dates. Such Contracts shall be allowed to
     mature naturally before any resulting proceeds are directed to MIP II.

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<PAGE>

                            Schedule "L" (continued)
                                          ---------

     As used herein, the term "restructuring" may include, but is not limited
     to, asset substitutions, partial or total liquidations of particular assets
     and the purchase of one or more credit wraps. The parties further
     acknowledge and agree that any restructuring of assets may result in
     changes to the crediting rate (including reductions therein), maturity date
     or other contractual terms that were in place with respect to those assets
     prior to restructuring.

     3. The parties acknowledge and agree that these Investment Guidelines do
     not apply to, and shall be of no force and effect with respect to, the
     administration by Trustee of MIP II.

     4. The Sponsor hereby acknowledges and agrees that it has received from the
     Trustee a copy of the Group Trust and Declaration of Separate Fund for MIP
     II, and has read and understood the information contained therein.

     These Investment Guidelines are effective as of the date first executed
     below on behalf of the Trustee and supersede all prior written and oral
     agreements regarding investments of the Account. Any deviation from or
     amendment to these Investment Guidelines must be approved in writing by
     both the Trustee and Sponsor prior to implementation thereof.

                                       53

<PAGE>

                                   Appendix A

                         Investment Contract Disclosures
                         -------------------------------

I.  FUNDING COMMITMENTS

The terms of each investment contract are based upon the information in the
bidding specifications given to potential bidders. Often detailed information
about expected deposits and withdrawals is necessary to receive the best rate
from an issuer on a given placement day.

Some investment contracts obligate the Plan to give a designated lump sum
deposit to the issuer by a specific date. Other contracts require a Plan to
direct all cash flow, including other contract maturities, to the issuer over a
set period (the funding "window"). At the end of the window, the issuer expects
a certain dollar amount to be received and may refuse to accept additional cash
flow. In either case, the funding date may be several months following the
commitment ("advance commitment" contracts).

If the Plan fails to fulfill its contractual funding obligations, there may be
financial consequences for Plan participants. This is because the issuer
conducts its financial affairs in reliance on receiving the deposits as
promised. Consequently, issuers may include shortfall funding provisions in
their contracts (particularly advance commitment contracts) in order to protect
their financial position.

The responsibility for a funding shortfall will vary depending on the underlying
cause. If participant activity (e.g. increased transfers out of the Account)
causes the shortfall, issuers will generally either assume the risk or extend
the funding date indefinitely. However, if a shortfall is caused by an
employer-initiated event (e.g. an unexpected layoff, Plan termination, or a
change in funding policy), the issuer will seek to be made whole under the terms
of the contract. If the contract has not yet been funded, the issuer may seek
reimbursement from the contract holder if the issuer incurs a financial loss.

As contract holder, Trustee intends to honor all funding commitments made on
behalf of the Plan. In the event of a shortfall, however, Trustee would only
assume responsibility to the extent that Trustee has been given funds by the
Plan for deposit and subsequently fails to remit the funds to the issuer.

II.  PLAN WITHDRAWALS AND INVESTMENT EXCHANGES

An investment contract generally imposes ongoing contractual commitments on the
Plan to maintain the issuer's promise to pay the book value of the contract. If
the sponsoring employer changes Plan rules in a manner which changes
significantly the amount of "benefit-responsive" withdrawals from a contract,
the issuer may be authorized to lower the interest rate or assess a monetary
penalty. Alternatively, the issuer may refuse to pay withdrawals prompted by the
plan change. Employer-initiated events such as a large scale layoff or a sale of
part of the business may cause the same consequences. Early advance notice to
Trustee of a coming Plan change or corporate event is critical to provide
Trustee sufficient time to try to minimize any financial consequences to the
Plan.

A request by the Plan contract holder (sponsoring employer or trustee) to
withdraw funds prior to the contract maturity date may also result in the
assessment of a market value adjustment on the amount withdrawn. Some contracts
don't allow such pre-maturity withdrawals without issuer consent.

                                       54

<PAGE>

Due to the potential financial consequences to Plan participants in these types
of situations, funding and withdrawal decisions must be carefully weighed by
Plan sponsors, managers and trustees.

                                       55

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