Document:

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                                                                   Exhibit 10.10

                           TRUST UNDER OM GROUP, INC.
                            BENEFIT RESTORATION PLAN

         This Trust Agreement, effective as of January 1, 1995, by and between
MOONEY CHEMICALS, INC., an Ohio corporation (the "Company") and National City
Bank ("Trustee"),

         WITNESSETH THAT:

         WHEREAS, Company has adopted that certain Benefit Restoration Plan
effective January 1, 1995 (hereinafter called the "Plan");

         WHEREAS, Company has incurred or expects to incur liability under the
terms of the Plan with respect to the individuals participating in the Plan;

         WHEREAS, Company wishes to establish a trust (hereinafter called
"Trust") and to contribute to the Trust assets that shall be held therein,
subject to the claims of Company's creditors in the event of Company's
Insolvency, as herein defined, until paid to Plan participants and their
beneficiaries in such manner and at such times as specified in the Plan;

         WHEREAS, it is the intention of the parties that this Trust shall
constitute an unfunded arrangement and shall not affect the status of the Plan
as an unfunded plan maintained for the purpose of providing deferred
compensation for the Company's employees who will qualify as a select group of
management or highly compensated employees for purposes of Title I of the
Employee Retirement Income Security Act of 1974; and

         WHEREAS, it is the intention of Company to make contributions to the
Trust to provide itself with a source of funds to assist it in the meeting of
its liabilities under the Plan;

         NOW, THEREFORE, the parties do hereby establish the Trust and agree
that the Trust shall be comprised, held and disposed of as follows:

         SECTION 1. ESTABLISHMENT OF TRUST.

         (a) Company hereby deposits and will deposit with Trustee in trust
  $10.00 which shall become the initial principal of the Trust to be held,
  administered and disposed of by Trustee as provided in this Trust Agreement.

         (b) The Trust hereby established shall be irrevocable.

         (c) The Trust is intended to be a grantor trust, of which Company is
the grantor, within the meaning of subpart E, part I, subchapter J, chapter 1,
subtitle A of the Internal Revenue Code of 1986, as amended, and shall be
construed accordingly.

         (d) The principal of the Trust, and any earnings thereon, while held as
part of this Trust, shall be held separate and apart from other funds of the
Company and shall be used exclusively for the uses and purposes of Plan
participants and general creditors as herein set forth. Plan participants and
their beneficiaries shall have no preferred claim on, or any beneficial
ownership interest in, any assets of the Trust. Any rights created under the

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Plan and this Trust Agreement shall be mere unsecured contractual rights of Plan
participants and their beneficiaries against Company. Any assets held by the
Trust will be subject to the claims of Company's general creditors under federal
and state law in the event of Insolvency., as defined in Section 3(a) herein.

         (e) Company, in its sole discretion, may at any time, or from time to
time, make additional deposits of cash or other property in trust with Trustee
to augment the principal to be held, administered and disposed of by Trustee as
provided in this Trust Agreement. Neither Trustee nor any Plan participant or
beneficiary shall have any right to compel such additional deposits.

         (f) Notwithstanding Section 1(e) or any other provision of this
agreement, upon a Change of Control, Company shall as soon as possible, but in
no event longer than 10 days following the Change of Control, as defined herein,
make an irrevocable contribution to the Trust in an amount that is sufficient to
pay each Plan participant or beneficiary the benefits to which Plan participants
or their beneficiaries would be entitled pursuant to the terms of the Plans as
of the date on which Change of Control occurred.

         SECTION 2. PAYMENT TO PLAN PARTICIPANTS AND THEIR
                             BENEFICIARIES.

         (a) Company shall deliver to Trustee a schedule (the "Payment
Schedule") that indicates the amounts payable in respect of each Plan
participant (and his or her beneficiaries), that provides a formula or other
instructions acceptable to Trustee for determining the amounts so payable, the
form in which such amount is to be paid (as provided for or available under the
Plan~, and the time of commencement for payment of such amounts. Except as
otherwise provided herein, Trustee shall make payments to the Plan participants
and their beneficiaries in accordance with such Payment Schedule. The Trustee
shall make provision for the reporting and withholding of any federal, state or
local taxes that may be required to be withheld with respect to the payment of
benefits pursuant to the terms of the Plan and shall pay amounts withheld to the
appropriate taxing authorities or determine that such amounts have been
reported, withheld and paid by Company.

        (b) The entitlement of a Plan participant or his or her beneficiaries to
benefits under the Plan shall be determined by Company or such party as it shall
designate under the Plan, and any claim for such benefits shall be considered
and reviewed under the procedures set out in the Plan.

         (c) Company may make payment of benefits directly to Plan participants
or their beneficiaries as they become due under the terms of the Plan. Company
shall notify Trustee of its decision to make payment of benefits directly prior
to the time amounts are payable to participants or their beneficiaries. In
addition, if the principal of the Trust, and any earnings thereon, are not
sufficient to make payments of benefits in accordance with the terms of the
Plan, Company shall make the balance of each such payment as it falls due.
Trustee shall notify Company when principal and earnings are not sufficient.

         SECTION 3. TRUSTEE RESPONSIBILITY REGARDING PAYMENTS TO
                       TRUST BENEFICIARY WHEN COMPANY IS INSOLVENT.

         (a) Trustee shall cease payment of benefits to Plan participants and
their beneficiaries if the Company is Insolvent. Company shall be considered

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"Insolvent" for purposes of this Trust Agreement if (i) Company is unable to pay
its debts as they become due, (ii) Company is subject to a pending proceeding as
a debtor under the United States Bankruptcy Code, or (iii) Company is determined
to be insolvent by the Federal Deposit Insurance Corporation.

         (b) At all times during the continuance of this Trust, as provided in
Section 1(d) hereof, the principal and income of the Trust shall be subject to
claims of general creditors of Company under federal and state law as set forth
below:

                  (1) The Board of Directors and the Chief Executive Officer of
Company shall have the duty to inform Trustee in writing of Company's
Insolvency. If a person claiming to be a creditor of Company alleges in writing
to Trustee that Company has become Insolvent, Trustee shall determine whether
Company is Insolvent and, pending such determination, Trustee shall discontinue
payment of benefits to Plan participants or their beneficiaries.

                  (2) Unless Trustee has actual knowledge of Company's
Insolvency, or has received notice from Company or a person claiming to be a
creditor alleging that Company is Insolvent, Trustee shall have no duty to
inquire whether Company is Insolvent. Trustee may in all events rely on such
evidence concerning Company's solvency as may be furnished to Trustee and that
provides Trustee with a reasonable basis for making a determination concerning
Company's solvency.

                  (3) If at any time Trustee has determined that Company is
Insolvent, Trustee shall discontinue payments to Plan participants or their
beneficiaries and shall hold the assets of the Trust for the benefit of the
Company's general creditors. nothing in this Trust Agreement shall in any way
diminish any rights of Plan participants or their beneficiaries to pursue their
rights as general creditors of Company with respect to benefits due under the
Plan or otherwise.

                  (4) Trustee shall resume the payment of benefits to Plan
participants or their beneficiaries in accordance with Section 2 of this Trust
Agreement only after Trustee has determined that Company is not Insolvent (or is
no longer Insolvent)

         (c) Provided that there are sufficient assets, if Trustee discontinues
the payment of benefits from the Trust pursuant to Section 3(b) hereof and
subsequently resumes such payments, the first payment following such
discontinuance shall include the aggregate amount of all payments due to Plan
participants or their beneficiaries under the terms of the Plan for the period
of such discontinuance, less the aggregate amount of any payments made to Plan
participants or their beneficiaries by Company in lieu of the payments provided
for hereunder during any such period of discontinuance.

         SECTION 4. PAYMENTS TO COMPANY.

         (a) Except as provided in Section 3 hereof and this Section 4, Company
shall have no right or power to direct Trustee to return to Company or to direct
to others any of the trust assets before all payments of benefits have been made
to Plan participants and their beneficiaries pursuant to the terms of the Plan.
Notwithstanding any other provision of this Trust, in the event of a
Participant's death, if the Trustee has one or more life insurance policies on
the life of the Participant, such policies and the proceeds thereof shall
constitute general assets of the Company and no person

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(including but not limited to the Participant or his or her Beneficiary) shall
have or acquire any interest in such assets, and promptly after the
Participant's death the Trustee shall return or pay to the Company any portion
of the proceeds thereof which would not be needed to make the payments due to
such deceased Participant's Beneficiary based on reasonable assumptions as
determined by the Company in its sole discretion.

         (b) From time to time, if and when requested by the Company to do so,
the Trustee shall engage the services of an independent actuary as may be
mutually satisfactory to the Company and to the Trustee, at the expense of the
Company, to determine the actuarial present value of the maximum future benefits
that could become payable under the Plan and the actuarial present value of all
assets held in the Trust. The Company shall pay the fees of such independent
actuary and of any appraiser engaged by, or in connection with the engagement
of, such independent actuary to value any property held in the Trust, and such
fees shall not be paid by the Trustee or charged against Trust assets. The
independent actuary shall make its calculations based on the assumption that all
Participants who are employed by the Company on the date of calculation will
have salary increases from the date of calculation through the termination of
their employment with the Company of 4.5% per year and that no such Participant
will leave the employ of the Company for any reason other than (i) death prior
to retirement or (ii) retirement after becoming entitled to have the maximum
amount of benefits payable to the Plan participant or his or her beneficiary
that is possible under the Plan. In addition, the independent actuary shall use
the mortality, interest rate, and other actuarial assumptions (including
assumptions regarding ages at retirement) then being used for purposes of a
qualified retirement plan of the Company (or, if no such actuarial assumptions
are available or appropriate, then using such reasonably comparable current
actuarial assumptions as the independent actuary may determine) If the actuarial
present value of all assets held in the Trust exceeds 125% of the actuarial
present value of the maximum future benefits that could become payable under the
Plan, then Trustee shall pay the amount of any such excess over 125%, upon the
request of the Company, to the Company, except that if payment of all or part of
any such excess would leave the Trustee with insufficient liquid assets to pay
all premiums due and to become due on any life insurance policies held in the
Trust, the Trustee shall retain sufficient liquid assets to pay such premiums.

         SECTION 5. INVESTMENT AUTHORITY.

         (a) Trustee may invest in life insurance policies, any and all
securities or obligations (including stock or rights to acquire stock) including
securities or obligations issued by Company. All rights associated with assets
of the Trust shall be exercised by Trustee or the person designated by Trustee,
and shall in no event be exercisable by or at the direction of the Plan
participants.

          (b) Company shall have the right, at any time, and from time to time
in Its sole discretion, to substitute assets of equal fair market value for any
asset held by the Trust. This right is exercisable by Company in a nonfiduciary
capacity Without the approval or consent of any person in a fiduciary capacity.

         (c) The Company may maintain in force all life insurance policies held
in the Trust by paying premiums and other charges due thereon; but if any such
premiums or other charges are not paid directly by the Company, the Trustee
shall pay such premiums and other charges on or before the due date thereof.
Subject to the Trustee's obligation, as set forth in Section 2, to use Trust

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assets for payment of benefits that are not paid directly by the Company as and
when due, if premiums are due upon any life insurance policy held in the Trust
and those premiums are not paid when due by the Company, (i) to the extent the
Trustee has cash or its equivalent readily available for the payment of premiums
due or policy loans and/or dividends are available for such purpose, the Trustee
shall pay premiums due with such cash or its equivalent or policy loans and/or
dividends, as the Trustee may deed best; and (ii) if the Trustee does not have
sufficient cash or its equivalent readily available and policy loans and
dividends are not available, then the Trustee shall dispose of or otherwise use
other assets held by it in the Trust to generate the necessary cash or, if no
such other assets are available, the Trustee shall surrender one or more of the
life insurance policies in order to generate cash with which to pay premiums on
one or more of the other life insurance policies. The Trustee shall have no
liability to the Company or any other person if, as a result of an insufficiency
of cash or its equivalent, policy loans and dividends, and assets that can be
disposed of or otherwise used to generate cash, the Trustee is unable to pay
premiums as they become due.

         SECTION 6. DISPOSITION OF INCOME.

         During the term of this Trust, all income received by the Trust, net of
expenses and taxes, shall be accumulated and reinvested.

         SECTION 7. ACCOUNTING BY TRUSTEE.

         Trustee shall keep accurate and detailed records of all investments,
receipts, disbursements, and all other transactions required to be made,
including such specific records as shall be agreed upon in writing between
Company and Trustee. Within sixty (60) days following the close of each calendar
year and within forty--five (45) days after the removal or resignation of
Trustee, Trustee shall deliver to Company a written account of its
administration of the Trust during such year or during the period from the close
of the last preceding year to the date of such removal or resignation, setting
forth all investments, receipts, disbursements and other transactions effected
by it, including a description of all securities and investments purchased and
sold with the cost or net proceeds of such purchases or sales (accrued interest
paid or receivable being shown separately), and showing all cash, securities and
other property held in the Trust at the end of such year or as of the date of
such removal or resignation, as the case may be.

         SECTION 8. RESPONSIBILITY OF TRUSTEE.

         (a) Trustee shall act with the care, skill, prudence and diligence
under the circumstances then prevailing that a prudent person acting in like
capacity and familiar with such matters would use in the conduct of an
enterprise of a like character and with like aims, provided, however, that
Trustee shall incur no liability to any person for any action taken pursuant to
a direction, request or approval given by Company which is contemplated by, and
in conformity with, the terms of the Plan or this Trust and is given in writing
by Company. In the event of a dispute between Company and a party, Trustee may
apply to a court of competent jurisdiction to resolve the dispute.

         (b) If Trustee undertakes or defends any litigation arising in
connection with this Trust, Company agrees to indemnify Trustee against
Trustee's costs, expenses and liabilities (including, without limitation,
attorneys' fees and expenses) relating thereto and to be primarily liable for

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such payments. If Company does not pay such costs, expenses and liabilities in a
reasonably timely manner, Trustee may obtain payment from the Trust.

         (c) Trustee may consult with legal counsel (who may also be counsel for
Company generally) with respect to any of its duties or obligations hereunder.

          (d) Trustee may hire agents, accountants, actuaries, investment
advisors, financial consultants or other professionals to assist it in
performing any of its duties or obligations hereunder.

         (e) Trustee shall have, without exclusion, all powers conferred on
Trustees by applicable law, unless expressly provided otherwise herein,
provided, however, that if an insurance policy is held as an asset of the Trust,
Trustee shall have no power to name a beneficiary of the policy other than the
Trust, to assign the policy (as distinct from conversion of the policy to a
different form) other than to a successor Trustee, or to loan to any person the
proceeds of any borrowing against such policy.

         (f) However, notwithstanding the provisions of Section 8(e)above,
Trustee may loan to Company the proceeds of any borrowing against an insurance
policy held as an asset of the Trust.

         (g) Notwithstanding any powers granted to Trustee pursuant to this
Trust Agreement or to applicable law, Trustee shall not have any power that
could give this Trust the objective of carrying on a business and dividing the
gains therefrom within the meaning of section 301.7701--2 of the Procedure and
Administrative Regulations promulgated pursuant to the Internal Revenue Code of
1986 as amended.

         SECTION 9. COMPENSATION AND EXPENSES OF TRUSTEE.

         Company shall pay all administrative expenses and Trustee's fees. If
not so paid, the fees and expenses shall be paid from the Trust.

         SECTION 10. RESIGNATION AND REMOVAL OF TRUSTEE.

         (a) Trustee may resign at any time by written notice to Company, which
shall be effective forty--five (45) days after receipt of such notice unless
Company and Trustee agree otherwise.

         (b) Trustee may be removed by Company on thirty (30) days notice or
upon shorter notice accepted by Trustee.

         (c) Upon a Change of Control, as defined herein, Trustee may not be
removed by Company for one (1) year.

         (d) If Trustee resigns within one (1) year after a Change of Control,
as defined herein, Company shall apply to a court of competent jurisdiction for
the appointment of a successor Trustee or for instructions.

         (e) If Trustee resigns or is removed within two (2) years of a Change
of Control, as defined herein, Trustee shall select a successor Trustee in
accordance with the provisions of Section 11(b) hereof prior to the effective
date of Trustee's resignation or removal.

         (f) Upon resignation or removal of Trustee and appointment of a
successor Trustee, all assets shall subsequently be transferred to the successor
Trustee. The transfer shall be completed within thirty (30) days

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after receipt of notice of resignation, removal or transfer, unless Company
extends the time limit.

         (g) If Trustee resigns or is removed, a successor shall be appointed,
in accordance with Section 11 hereof, by the effective date of resignation or
removal under paragraphs (a) or (b) of this section. If no such appointment has
been made, Trustee may apply to a court of competent jurisdiction for
appointment of a successor or for instructions. All expenses of Trustee in
connection with the proceeding shall be allowed as administrative expenses of
the Trust.

         SECTION 11. APPOINTMENT OF SUCCESSOR.

         (a) If Trustee resigns or is removed in accordance with Section 10 (a)
or (b) hereof, Trustee may appoint any third party, such as A bank trust
department or other party that may be granted corporate trustee powers under
state law, as a successor to replace Trustee upon resignation or removal. The
appointment shall be effective when accepted in writing by the new Trustee, who
shall have all of the rights and powers of the former Trustee, including
ownership rights in the Trust assets. The former Trustee shall execute any
instruments necessary or reasonably requested by Company or the successor
Trustee to evidence the transfer.

         (b) If Trustee resigns or is removed pursuant to the provisions of
Section 10(e) hereof and selects a successor Trustee, Trustee may appoint any
third party such as a bank trust department or other party that may be granted
corporate trustee powers under state law. The appointment of a successor Trustee
shall be effective when accepted in writing by the new Trustee. The new Trustee
shall have all the rights and powers of the former Trustee, including ownership
rights in Trust assets. The former Trustee shall execute any instruments
necessary or reasonably requested by the successor Trustee to evidence the
transfer.

         (c) The successor Trustee need not examine the records and acts of any
prior Trustee and may retain or dispose of existing Trust assets, subject to
Sections 7 and 8 hereof. The successor Trustee shall not be responsible for, and
Company shall indemnify and defend the successor Trustee from, any claim or
liability resulting from any action or inaction of any prior Trustee or from any
other past event, or any condition existing at the time it becomes successor
Trustee.

         SECTION 12. AMENDMENT OR TERMINATION.

          (a) This Trust Agreement may be amended by a written instrument
executed by Trustee and Company. Notwithstanding the foregoing, no such
amendment will conflict with the terms of the Plan or shall make the Trust
revocable.

         (b) The Trust shall not terminate until the date on which Plan
participants and their beneficiaries are no longer entitled to benefits pursuant
to the terms of the Plan. Upon termination of the Trust any assets remaining
shall be returned to the Company.

         (c) Upon written approval of participants or beneficiaries entitled to
payment of benefits pursuant to the terms of the Plan, Company may terminate
this Trust prior to the time all benefit payments under the Plan have been made.
All assets in the Trust at termination shall be returned to Company.

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         SECTION 13. MISCELLANEOUS.

         (a) Any provision of this Trust Agreement prohibited by law shall be
ineffective to the extent of any such prohibition, without invalidating the
remaining provisions hereof.

         (b) Benefits payable to Plan participants and their beneficiaries under
this Trust Agreement may not be anticipated, assigned (either at law or in
equity), alienated, pledged, encumbered or subjected to attachment, garnishment,
levy, execution or other legal or equitable process.

           (c) This Trust Agreement shall be governed by and construed in
accordance with the laws of Ohio.

           (d)For purposes of this Trust, Change of Control shall mean: The
              purchase or other acquisition by any person, entity or group of
              persons, within the meaning of section 13(d) or 14(d) of the
              Securities Exchange Act of 1934 ("Act"), or any comparable
              successor provisions, of beneficial ownership (within the meaning
              of Rule l3d--3 promulgated under the Act) of 30 percent or more of
              either the outstanding shares of common stock or the combined
              voting power of Company's then outstanding voting securities
              entitled to vote generally, or the approval by the stockholders of
              Company of a reorganization, merger, or consolidation, in each
              case, with respect to which persons who were stockholders of
              Company immediately prior to such reorganization, merger or
              consolidation do not, immediately thereafter, own more than 50
              percent of the combined voting power entitled to vote generally in
              the election of directors of the reorganized, merged or
              consolidated Company's then outstanding securities, or a
              liquidation or dissolution of Company or of the sale of all or
              substantially all of Company's assets.

         SECTION 14. EFFECTIVE DATE.

          The effective date of this Trust Agreement shall be January 1, 1995.
          IN WITNESS WHEREOF, the foregoing Trust Agreement has been duly
executed by the Company and the Trustee.

MOONEY CHEMICALS, INC. "Company"              National City Bank "Trustee"

By:                                           By:
   ------------------------------                -------------------------------
James P. Mooney                               Robert G. Aber, Vice President
Chairman, Board of Directors

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                                                                   EXHIBIT 10.12

                           OM GROUP, INC. NON-EMPLOYEE
                       DIRECTORS' EQUITY COMPENSATION PLAN

          1.      PURPOSE OF THE PLAN.

                  The purpose of the OM Group, Inc. Non-Employee Directors'
Equity Compensation Plan is to permit Eligible Directors of the OM Group, Inc.
(the `Company') to share in the growth of the value of the Company through the
grant and exercise of nonqualified stock options and awards of restricted stock.

          2.      DEFINITIONS.

                  For purposes of the Plan, the following terms shall be defined
as set forth below:

                  "BOARD" means the Board of Directors of the Company.

                  "CODE" means the Internal Revenue Code of 1986, as amended
from time to time, and any successor thereto.

                  "COMMON STOCK" means the common stock of the Company, par
value $.01 per share.

                  "COMPANY" means OM Group, Inc., a Delaware corporation,
including any wholly owned subsidiary or affiliate, or any successor
organization.

                  "DISABILITY" means permanent and total disability within the
meaning of Section 22(e)(3) of the Code.

                  "ELIGIBLE DIRECTOR" means a person who is a non-employee
member of the Board.

                  "EXCHANGE ACT" means the Securities Exchange Act of 1934, as
amended.

                  "FAIR MARKET VALUE" means the per share or aggregate value of
the Common Stock as of any given date, as determined by reference to the price
of the last traded share of Common Stock on the over-the-counter market, as
reported by the National Association of Securities Dealers, Inc. Automated
Quotation ("NASDAQ") System for the next preceding date that Common Stock was
traded on such market, or, in the event the Common Stock is listed on a stock
exchange, the closing price per share of Common Stock as reported on such
exchange for such next preceding date.

                  "INCENTIVE STOCK OPTION" means any Option intended to be
designated as an "incentive stock option" within the meaning of Section 422 of
the Code.

<PAGE>

                  "NONQUALIFIED STOCK OPTION" means any Option that is not an
Incentive Stock Option.

                  "OPTION" means any option to purchase shares of the Common
Stock of the Company granted pursuant to this Plan.

                  "OPTION AGREEMENT" means a written agreement between the
Company and the Participant regarding the grant and exercise of Options to
purchase shares of Common Stock and the terms and conditions thereof.

                  "PARTICIPANT" means an Eligible Director to whom an award is
granted pursuant to the Plan.

                  "PLAN" means the OM Group, Inc. Non-Employee Directors' Equity
Compensation Plan, as hereinafter amended from time to time.

                  "RESTRICTED STOCK" means an award of Common Stock that is
subject to restrictions pursuant to Section 8.

                  "RULES" means the regulations promulgated by the Securities
and Exchange Commission under Section 16 of the Exchange Act.

                  Except where otherwise indicated by the context, any masculine
terminology used herein shall also include the feminine and vice versa, and the
definition of any term herein in the singular shall also include the plural and
vice versa.

          3.      STOCK SUBJECT TO THE PLAN.

                  (a) The aggregate number of shares of Common Stock that may be
issued or transferred under the Plan is 250,000, subject to adjustment pursuant
to Section 3(b) below. Such shares may be authorized but unissued shares or
reacquired shares. In the event the number of shares of Common Stock issued
under the Plan and the number of shares of Common Stock subject to outstanding
awards (taking into account the share counting requirements established under
the Rules) equals the maximum number of shares of Common Stock authorized under
the Plan, no further awards shall be made unless the Plan is amended (in
accordance with the Rules, if necessary) or additional shares of Common Stock
become available for further awards under the Plan. If and to the extent that
Options granted under the Plan terminate, expire or are cancelled without having
been exercised, such shares shall again be available for subsequent awards under
the Plan.

                  (b) If any change is made to the Common Stock (whether by
reason of merger, consolidation, reorganization, recapitalization, stock
dividend, stock split, combination of shares, or exchange of shares or any other
change in capital structure made without receipt of consideration), then unless
such event or change results in the termination of all outstanding

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<PAGE>

awards under the Plan, the Board shall preserve the value of the outstanding
awards by adjusting the maximum number and class of shares available under the
Plan to reflect the effect of such event or change in the Company's capital
structure, and by making appropriate adjustments to the number and class of
shares subject to an outstanding award and/or the Option price of each
outstanding Option, except that any fractional shares resulting from such
adjustments shall be eliminated by rounding any portion of a share equal to .500
or greater up, and any portion of a share equal to less than .500 down, in each
case to the nearest whole number.

          4.      ADMINISTRATION OF THE PLAN.

          The Plan shall be administered by the Board. Subject to the provisions
of the Plan, the Board shall be authorized to:

                  (a) adopt, revise and repeal such administrative rules,
guidelines and practices governing this Plan as it shall from time to time deem
advisable;

                  (b) interpret the terms and provisions of the Plan and any
Option or Restricted Stock award issued under the Plan (and any agreements
relating thereto), and otherwise settle all claims and disputes arising under
the Plan;

                  (c) delegate responsibility and authority for the operation
and administration of the Plan, appoint employees and officers of the Company to
act on its behalf, and employ persons to assist in the fulfilling of its
responsibilities under the Plan; and

                  (d) otherwise supervise the administration of the Plan;
provided, however, that the Board shall have no discretion with respect to the
selection of Eligible Directors to receive awards hereunder, the number of
shares of Common Stock covered by such awards or the price or timing of any
awards granted hereunder.

          5.      AWARDS.

          An Eligible Director may elect to receive all or a portion of his
compensation in cash or, in lieu thereof, a predetermined amount of Options or
shares of Restricted Stock. Any such election must be made no later than the
date of the first scheduled meeting of the Board in any calendar year and shall
relate only to compensation payable for periods commencing after the date of
such election; provided, however, that with respect to the 1995 plan year, such
election must be made no later than thirty (30) days after the effective date of
the Plan (as specified in Section 12).

                                       -3-

<PAGE>

          6.      OPTION GRANTS.

                  (a) An electing Eligible Director's compensation will be
converted to Options based upon the difference between the Fair Market Value of
the Common Stock (determined as of the date of the first scheduled meeting of
the Board in any calendar year) and the Option price.

                  (b) All Options granted hereunder shall be Nonqualified Stock
Options. No Option granted pursuant to this Plan may be designated as an
Incentive Stock Option.

                  (c) Notwithstanding any other provision of the Plan, this
Section 6 may not be amended more than once every six months, except for
amendments necessary to conform the Plan to changes in the provisions of, or the
regulations relating to, the Code.

          7.      TERMS AND CONDITIONS OF OPTIONS.

                  (a) OPTION AGREEMENT. Each Option granted hereunder shall be
evidenced by an Option Agreement.

                  (b) OPTION PRICE. The Option price per share of Common Stock
covered by an Option granted hereunder shall be seventy-five percent (75%) of
the Fair Market Value of the Common Stock (determined as of the date of the
first scheduled meeting of the Board in any calendar year).

                  (c) OPTION TERM. The term of each Option shall be ten years.
No Option shall be exercised by any person after the expiration of the term of
the Option.

                  (d) EXERCISABILITY. An Option shall be exercisable during its
term; provided, however, that no Option shall be exercisable during the six
months following the date of grant of such Option.

                  (e) METHOD OF EXERCISE. Options may be exercised, in whole or
in part, at any time and from time to time during the Option exercise period, by
giving written notice of exercise to the Company specifying the number of shares
to be purchased. Such notice shall be accompanied by payment in full of the
purchase price, either in cash or by certified or bank check, or such other
instrument as the Board may accept. Payment in full or in part may also be made
in the form of unrestricted Common Stock already owned by the Participant (and
based upon the Fair Market Value of the Common Stock so tendered as of the date
the Option is exercised, as determined by the Board). No shares of Common Stock
shall be issued until full payment therefore has been made. Eligible Directors
shall generally have the rights to dividends or other rights of a stockholder
with respect to shares subject to the Option when the Eligible Director has
given notice as to exercise, has paid in full for such shares and, if requested,
has given any representations required by the Board.

                                       -4-

<PAGE>

                  (f) NON-TRANSFERABILITY. No Option shall be transferable by
the Participant otherwise than by will, by the laws of descent and distribution,
pursuant to a qualified domestic relations order or as permitted under the
Rules, and all Options shall be exercisable, during the Participant's lifetime,
only by the Participant.

                  (g) TERMINATION BY REASON OF DEATH. If a Participant ceases to
be an Eligible Director by reason of death, any Option held by such Participant
may thereafter be exercised, to the extent then exercisable, by the legal
representative of the estate or by the legatee of the Participant under the will
of the Participant, for a period of one year from the date of such death or
until the expiration of the stated term of such Option, whichever period is
shorter.

                  (h) TERMINATION BY REASON OF DISABILITY. If a Participant
ceases to be an Eligible Director by reason of Disability, any Option held by
such Participant may thereafter be exercised by the Participant, to the extent
it was exercisable at the time of termination, for a period of one year from the
date of such termination or until the expiration of the stated term of such
Option, whichever period is shorter; provided, however, that if the Participant
dies within such one-year period, any unexercised Option held by such
Participant shall thereafter be exercisable to the extent it was exercisable at
the time of death for a period of one year from the date of such death or until
the expiration of the stated term of such Option, whichever period is shorter.

                  (i) OTHER TERMINATION. If a Participant ceases to be an
Eligible Director for any reason other than death or Disability (except as a
result of becoming an employee of the Company), any Option held by such
Participant may thereafter be exercised by the Participant, to the extent it was
exercisable at the time of such termination, for a period of three months from
the date of such termination or the expiration of the stated term of such
Option, whichever period is shorter; provided, however, that if the Participant
dies within such three-month period, any unexercised Option held by such
Participant shall thereafter be exercisable, to the extent to which it was
exercisable at the time of death, for a period of one year from the date of such
death or until the expiration of the stated term of the Option, whichever period
is shorter. If a Participant ceases to be an Eligible Director by reason of his
becoming an employee of the Company and his employment with the Company is
subsequently terminated, any Option held by such Participant may thereafter be
exercised by the Participant, to the extent that it was exercisable at the time
of such termination, for a period of three months from the date of such
termination or the expiration of the stated term of the Option, whichever period
is shorter; provided, however, that if the Participant dies within such three
month-period, any unexercised Option held by such Participant shall thereafter
be exercisable, to the extent to which it was exercisable at the time of death,
for a period of one year from the date of such death or until the expiration of
the stated term of the Option, whichever period is shorter.

                                       -5-
<PAGE>

          8.      RESTRICTED STOCK.

                  (a) AWARDS. An electing Eligible Director's compensation will
be converted to shares of Restricted Stock based upon the Fair Market Value of
the Common Stock (determined as of the date of the first scheduled meeting of
the Board in any calendar year). An Eligible Director who elects to receive
shares of Restricted Stock will receive additional shares of Restricted Stock
equal to five percent (5%) of the amount of the compensation that the Eligible
Director actually elects to convert to Restricted Stock.

                  (b) RESTRICTIONS AND CONDITIONS.

                           (i) The prospective recipient of a Restricted Stock
award shall not have any rights with respect to such award unless and until such
recipient has executed an agreement evidencing the award and has delivered a
fully executed copy thereof to the Company, and has otherwise complied with the
applicable terms and conditions of such award.

                           (ii) Awards of Restricted Stock must be accepted
within a period of sixty (60) days (or such shorter period as the Board may
specify at grant) after the grant date, by executing a Restricted Stock
agreement.

                           (iii) Except as otherwise specified by the Board,
each Participant receiving a Restricted Stock award shall be issued a
certificate in respect of such shares of Restricted Stock. Such certificate
shall be registered in the name of such Participant, and shall bear an
appropriate legend referring to the terms, conditions, and restrictions
applicable to such award, substantially in the following form:

                           "The transferability of this certificate and the
shares of stock represented hereby are subject to the terms and conditions
(including forfeiture) of the OM Group, Inc. Non-Employee Directors' Equity
Compensation Plan and an agreement entered into between the registered owner and
OM Group, Inc. Copies of such Plan and agreement are on file at the offices of
OM Group, Inc., 3800 Terminal Tower, Cleveland, Ohio 44113-2204.

                           (iv) The Board shall require that the stock
certificates evidencing such shares be held in custody by the Company until the
restrictions thereon shall have lapsed, and that, as a condition of any
Restricted Stock award, the Participant shall have delivered a stock power,
endorsed in blank, relating to the Common Stock covered by such award.

                           (v) The restrictions imposed upon an award of
Restricted Stock during the restriction period (the `Restriction Period') shall
lapse in accordance with the following schedule:

ANNIVERSARY OF DATE OF GRANT                    PERCENTAGE VESTED
----------------------------                    -----------------
First                                           50
Second                                          100

                                       -6-
<PAGE>

                           (vi) Each Restricted Stock award agreement shall
provide that the Restricted Stock covered by the agreement shall be subject to a
"substantial risk of forfeiture" (within the meaning of Section 83 of the Code).

                           (vii) Except as provided in the Restricted Stock
award agreement, the Participant shall have, with respect to the shares of
Restricted Stock, all of the rights of a stockholder of the Company, including
the right to vote the shares and the right to receive any cash dividends. The
Board, in its sole discretion, as determined at the time of award, may permit or
require the payment of cash dividends to be deferred and, if the Board so
determines, reinvested in additional Restricted Stock to the extent shares are
available under Section 3.

                           (viii) In the event a Participant does not satisfy
the conditions of the "substantial risk of forfeiture" for any reason other than
death or Disability (except as a result of his becoming an employee of the
Company) prior to the expiration of the Restriction Period, shares still subject
to the restriction shall be immediately forfeited. In the event of death or
Disability, the restrictions and shares of restricted stock shall immediately
lapse. In the event the Participant ceases to be an Eligible Director by reason
of his becoming an employee of the Company, the restrictions imposed upon the
restricted stock shall continue to lapse in accordance with the schedule
referenced above.

                           (ix) If and when the Restriction Period expires
without prior forfeiture of the Restricted Stock subject to such Restriction
Period, the certificates for such shares shall be delivered to the Participant
promptly.

                           (x) For purposes of this Section 8, a Restricted
Stock award will be considered to have been granted on the date that the Board
takes the requisite action to grant the award.

          9.      AMENDMENT AND TERMINATION.

                  The Board may amend, alter or discontinue the Plan at any time
and from time to time (either by resolution or unanimous consent), but no
amendment, alteration or discontinuation shall be made which would impair the
rights of a Participant under an award theretofore granted, without the
Participant's consent, or which, without the approval of the Company's
stockholders, would require stockholder approval under the Rules. The Board may
amend the terms of any award theretofore granted, prospectively or
retroactively, but no such amendment shall impair the rights of any Participant
without the Participant's consent. Notwithstanding any provision herein to the
contrary, the Board shall have broad authority to amend the Plan or any awards
to take into account changes in applicable tax laws, securities laws, accounting
rules and other applicable state and federal laws.

                                      -7-

<PAGE>

          10.     UNFUNDED STATUS OF THE PLAN

                  The Plan is intended to constitute an unfunded plan for
incentive compensation. With respect to any payments not yet made to a
Participant by the Company, nothing contained herein shall give any such
Participant any rights that are greater than those of a general creditor of the
Company. In its sole discretion, the Board may authorize the creation of trusts
or other arrangements to meet the obligations created under the Plan to deliver
Common Stock or payments in lieu thereof or with respect to awards hereunder.

          11.     GENERAL PROVISIONS.

                  (a) The Board may require each person receiving Common Stock
under the Plan to represent to and agree with the Company in writing that the
Participant is acquiring the shares without a view to distribution thereof The
certificates for such shares may include any legend which the Company deems
appropriate to reflect any restrictions on transfer.

                  (b) Nothing contained in this Plan shall prevent the Board
from adopting other or additional compensation arrangements (subject to
stockholder approval, if such approval is required) and such arrangements may be
either generally applicable or applicable only in specific cases.

                  (c) The adoption of the Plan shall not confer upon any
Participant any right to a continued relationship with the Company nor shall it
interfere in any way with the right of the Company to terminate its relationship
with any of its directors at any time.

                  (d) No later than the date as of which an amount first becomes
includible in the gross income of the Participant for applicable income tax
purposes with respect to any award under the Plan, the Participant shall pay to
the Company or make arrangements satisfactory to the Board regarding the payment
of any federal, state or local taxes of any kind required by law to be withheld
with respect to such amount. Unless otherwise determined by the Board, the
minimum required withholding obligations may be settled with Common Stock,
including Common Stock that is part of the award that gives rise to the
withholding requirement. The obligation of the Company under the Plan shall be
conditional upon such payment or arrangements and the Company shall to the
extent permitted by law have the right to deduct any such taxes from any payment
of any kind otherwise due to the Participant.

                  (e) The Board shall establish such procedures as it deems
appropriate for a Participant to designate a beneficiary to whom any amounts
payable in the event of the Participant's death are to be paid.

                  (f) The Plan shall be governed by and subject to all
applicable laws and to the approvals by any governmental or regulatory agency as
may be required.

                                       -8-

<PAGE>

                  (g) If any provision of this Plan shall be held illegal or
invalid for any reason, such illegality or invalidity shall not affect the
remaining provisions of this Plan, but this Plan shall be construed and enforced
as if such illegal or invalid provision had never been included herein.

          12.     EFFECTIVE DATE AND TERM OF THE PLAN.

                  The Plan shall be effective as of March 15, 1995, subject to
the consent or approval of the Company's stockholders. No Option shall be
granted pursuant to the Plan on or after March 15, 2005, but Options granted
prior to such date may extend beyond that date.

                                    OM GROUP, INC.

Attest:                             By:
       ------------------------         -----------------------------

                                       -9-

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