Document:

<PAGE>

                                                                    EXHIBIT 10.8

                            LYONDELL CHEMICAL COMPANY
                      SUPPLEMENTAL EXECUTIVE BENEFIT PLANS
                                 TRUST AGREEMENT

                            (As Amended and Restated
                        Effective as of January 1, 2002)
<PAGE>

                                TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                                                                   PAGE
<S>                                                                                                                 <C>
RECITALS.........................................................................................................    1

SECTION 1         Creation of the Trust..........................................................................    2

SECTION 2         Limitation on Use of Funds.....................................................................    3

SECTION 3         Change in Control..............................................................................    4

SECTION 4         Independent Plan Administrator.................................................................    8

SECTION 5         Excess Reversion...............................................................................    9

SECTION 6         Authority of Investment Officers...............................................................    9

SECTION 7         Duties and Powers of Trustee with Respect to Investments.......................................   10

SECTION 8         Additional Powers and Duties of the Trustees...................................................   13

SECTION 9         Insurance Policies and Contracts...............................................................   14

SECTION 10        Participating Plan Records.....................................................................   15

SECTION 11        Valuation......................................................................................   15

SECTION 12        Participant Records Prior to and Following a Change in Control.................................   16

SECTION 13        Trustee Accounts...............................................................................   16

SECTION 14        Investment of Cash.............................................................................   17

SECTION 15        Payments by the Trustee........................................................................   18

SECTION 16        Determination of Change in Control.............................................................   19

SECTION 17        Trustee Compensation and Trust Expenses........................................................   19

SECTION 18        Payment of Taxes by Trustees...................................................................   20

SECTION 19        Custodians and Agents..........................................................................   20

SECTION 20        Liability for Benefit Payments.................................................................   20

SECTION 21        Company Insolvency.............................................................................   21

SECTION 22        Trustee Responsibility for Plan Administration and Trust Record Keeping After Change in
                  Control........................................................................................   23

SECTION 23        Trustee Standards of Performance and Indemnifications..........................................   23

SECTION 24        Removal and Resignation of Trustee.............................................................   24

SECTION 25        Termination of Participating Plan or Plans.....................................................   25

SECTION 26        Rights of Company to Trust Assets..............................................................   25

SECTION 27        Amendments of Trust............................................................................   26

SECTION 28        Termination of Trust...........................................................................   26

SECTION 29        Successors.....................................................................................   27

SECTION 30        Communications.................................................................................   28

SECTION 31        Unclaimed Distributions........................................................................   28
</TABLE>

                                       i
<PAGE>

<TABLE>
<S>               <C>                                                                                               <C>
SECTION 32        Prohibition of Assignments.....................................................................   28

SECTION 33        Governing Law..................................................................................   29

SECTION 34        Execution......................................................................................   29

APPENDIX A   ....................................................................................................   30
</TABLE>

                                       ii
<PAGE>

                            LYONDELL CHEMICAL COMPANY
                      SUPPLEMENTAL EXECUTIVE BENEFIT PLANS
                                 TRUST AGREEMENT

     THIS AGREEMENT, as amended and restated as of January 1, 2002, between
LYONDELL CHEMICAL COMPANY (the "Company"), and WILMINGTON TRUST COMPANY (the
"Trustee");

                                 R E C I T A L S

     A. Effective August 1, 2001, the Company and the Trustee entered into this
Agreement to create a Trust (defined under Section 1 of this Trust Agreement)
for purposes of the Lyondell Chemical Company Supplementary Executive Retirement
Plan and the Lyondell Chemical Company Executive Deferral Plan and any benefit
plans that may be established and maintained by the Company for executive
employees of the Company after the effective date of this Trust, that permit
funding by this Trust, and that are established and maintained to provide
deferred compensation for a select group of management or highly compensated
employees. The benefit plans that may be funded by this Trust are listed in
Appendix A attached hereto and shall hereinafter be referred to as the
"Participating Plans".

     B. The amount and timing of benefit payments (the "Supplemental Benefits")
to which the participants of the Participating Plans (the "Trust Beneficiaries")
are or may become entitled under each of the Participating Plans are set forth
in the Participating Plans.

     C. The Company established this trust fund to assist it in accumulating the
amounts necessary to satisfy its contractual liability to pay Supplemental
Benefits under the Participating Plans.

     D. The Company is obligated to pay all Supplemental Benefits from its
general assets to the extent not paid by this Trust and the amendment and
restatement of this Trust Agreement shall not reduce or otherwise affect the
Company's continuing liability to pay Supplemental Benefits from such assets,
except that the Company's liability shall be offset by actual benefit payments
made from this Trust.
<PAGE>

     E. The trust continued by this amended and restated Trust Agreement is
intended to be a "grantor trust" with the result that the corpus and income of
the Trust shall be treated as assets and income of the Company pursuant to
Sections 671 through 679 of the Internal Revenue Code of 1986, as amended (the
"Code").

     F. The Company intends that the Trust shall at all times be subject to the
claims of the Company's creditors as herein provided and that the Participating
Plans shall not be deemed funded within the meaning of the Employee Retirement
Income Security Act of 1974, as amended, ("ERISA") solely by virtue of the
existence of this Trust Agreement.

     NOW, THEREFORE, in consideration of the mutual covenants herein contained,
the parties hereto agree as follows:

                                    SECTION 1

                              CREATION OF THE TRUST

     There is hereby established and continued with the Trustee a trust
consisting of all sums paid to it for purposes of the Participating Plans,
investments thereof and any earnings, appreciations or losses thereon, which,
less disbursements made by Trustee, and amounts paid to the Company as provided
in Section 2 of this Trust Agreement, are referred to herein as the "Trust" and
shall be dealt with as provided in this Trust Agreement. The Trust shall be held
for the exclusive purpose of providing payments to Trust Beneficiaries in
accordance with the provisions of the Participating Plans, and defraying
reasonable expenses of administration in accordance with the provisions of this
Trust Agreement until all such payments required by this Trust Agreement have
been made, subject to the provisions on the use of Funds under Section 2 of this
Trust Agreement, and to the requirement that the Trust shall at all times be
subject to the claims of the general creditors of the Company as set forth in
Sections 21.1 and 21.2 of this Trust Agreement. The Trustee shall have no duty
or authority to inquire into the correctness of amounts tendered to it or to
enforce the collection of any contribution by the Company.

     The Company shall direct the Trustee to establish a separate subtrust
("Subtrust") for each Plan to which the Trustee shall credit contributions it
receives which are earmarked for that Plan and Subtrust. Each Subtrust shall
reflect an undivided interest in assets of the trust fund and shall not require
any segregation of particular assets. When Subtrusts are established, all
contributions shall be designated by the Company for a particular

                                        2
<PAGE>

Subtrust. However, any contribution received by the Trustee which is not
designated by the Company for a particular Subtrust before a Change in Control
shall be allocated among the Subtrusts in proportion to each Participating
Plan's pro rata interest in the Trust, as calculated during the last Valuation.

     When a Subtrust is established at a date subsequent to execution of this
Agreement, the Trustee shall allocate the Trust assets among the separate
Subtrusts as directed by the Company prior to a Change in Control.

     The Company may direct the Trustee, or the Independent Plan Administrator
may determine on its own initiative after a Change in Control, to maintain a
separate sub-account within each Subtrust for a Plan for each Participant who is
covered by the Subtrust. If so directed, each sub-account in a Subtrust shall
reflect an individual interest in assets of the Subtrust and, as much as
possible, shall operate in the same manner as if it were a separate Subtrust.

     The Trustee shall allocate investment earnings and losses and expenses of
the trust fund as of a valuation date among the Subtrusts in proportion to their
balances. Payments to creditors as directed by a court of competent jurisdiction
in the event of the Company's insolvency shall be charged against the Subtrusts
in proportion to their balances, except that payment of Plan benefits to a
Participant as a general creditor shall be charged against the Subtrust for that
Plan.

     Assets allocated to a Subtrust for one Plan may not be used to provide
benefits under any other Plans until all benefits under such Plan have been paid
in full, except that excess assets of a Subtrust may be transferred to other
Subtrusts.

                                    SECTION 2

                           LIMITATION ON USE OF FUNDS

     No part of the corpus of the Trust shall be recoverable by the Company,
borrowed by or against for the benefit of the Company or used for any purpose
other than for the exclusive purpose of providing payments to Trust
Beneficiaries in accordance with the provisions of the Participating Plans and
defraying reasonable expenses of administration in accordance with the
provisions of this Trust Agreement until all such payments required by this
Trust Agreement have been made; provided, however, that (i) nothing in this
Section 2 shall be deemed to limit or otherwise prevent the payment from the
Trust of (a) amounts described in Section 5 of this Trust Agreement, (b)
expenses and other charges

                                        3
<PAGE>

as provided in Section 17 and 18 of this Trust Agreement, or (c) the application
of the Trust as provided in Sections 15.5 or 28 of this Trust Agreement, and
(ii) the Trust shall at all times be subject to the claims of the general
creditors of the Company as set forth in Section 21.1 and 21.2 of this Trust
Agreement.

                                    SECTION 3

                                CHANGE IN CONTROL

     Section 3.1. General. Various provisions of this Trust Agreement provide
     ------------
for certain rights and obligations upon and following a Change in Control of the
Company.

     Section 3.2. Definition of "Change in Control". For purposes of this Trust
     ------------
Agreement, a "Change in Control" shall be deemed to have occurred as of the date
that one or more of the following occurs:

     (i) Individuals who, as of February 1, 1999, constitute the entire Board
     ("Incumbent Directors") cease for any reason to constitute at least a
     majority of the Board; provided, however, that any individual becoming a
                            ------------------
     director subsequent to the date hereof whose election, or nomination for
     election by the Company's shareholders, was approved by a vote of at least
     a majority of the then Incumbent Directors shall be considered as though
     such individual was an Incumbent Director, but excluding, for this purpose
     any such individual whose initial assumption of office occurs as a result
     of either an actual or threatened election contest, as such terms are used
     in Rule 14a-11 under the Securities Exchange Act of 1934, as amended or
     other actual or threatened solicitation of proxies or consents by or on
     behalf of any Person (as defined below) other than the Board;

     (ii) The stockholders of the Company shall approve any merger,
     consolidation or recapitalization of the Company (or, if the capital stock
     of the Company is affected, any subsidiary of the Company), or any sale,
     lease, or other transfer (in one transaction or a series of transactions
     contemplated or arranged by any party as a single plan) of all or
     substantially all of the assets of the Company (each of the foregoing being
     an "Acquisition Transaction") where (1) the shareholders of the Company
     immediately prior to such Acquisition Transaction would not immediately
     after such Acquisition Transaction beneficially own, directly or
     indirectly, shares or other ownership interests representing in the
     aggregate eighty percent (80%) or more of (a) the

                                        4
<PAGE>

     then outstanding common stock or other equity interests of the corporation
     or other entity surviving or resulting from such merger, consolidation or
     recapitalization or acquiring such assets of the Company, as the case may
     be, or of its ultimate parent corporation or other entity, if any (in
     either case, the "Surviving Entity"), and (b) the Combined Voting Power of
     the then outstanding Voting Securities of the Surviving Entity or (2) the
     Incumbent Directors at the time of the initial approval of such Acquisition
     Transaction would not immediately after such Acquisition Transaction
     constitute a majority of the Board of Directors, or similar managing group,
     of the Surviving Entity; provided, however, that, notwithstanding the
                              --------- --------
     foregoing, a Change of Control shall not be deemed to have occurred for
     purposes of this Subsection (ii) if each of the following conditions are
     met: (a) the Acquisition Transaction is between the Company and/or its
     Affiliates, on the one hand, and Millennium Chemicals Inc. ("Millennium")
     and/or its Affiliates, on the other hand, (b) the Company or an entity that
     was a wholly owned subsidiary of the Company prior to the Acquisition
     Transaction has a class of equity securities registered under Section 12 of
     the Securities Exchange Act of 1934, as amended, immediately after
     completion of the Acquisition Transaction, (c) Millennium or an entity that
     was a wholly owned subsidiary of Millennium prior to the Acquisition
     Transaction has a class of equity securities registered under Section 12 of
     the Securities Exchange Act of 1934, as amended, immediately after
     completion of the Acquisition Transaction, and (d) as a result of the
     Acquisition Transaction, the Company or its Affiliates own a greater
     percentage equity interest in Equistar Chemicals, LP ("Equistar") than was
     owned, directly or indirectly, by the Company immediately prior to such
     Acquisition Transaction;

     (iii) The stockholders of the Company shall approve any plan or proposal
     for the liquidation or dissolution of the Company; or

     (iv) Any Person shall be or become the beneficial owner (as defined in
     Rules 13d-3 and 13d-5 under the Securities Exchange Act of 1934, as
     amended), directly or indirectly, of securities of the Company representing
     in the aggregate more than twenty percent (20%) of either (A) the then
     outstanding shares of common stock of the Company ("Common Shares") or (B)
     the Combined Voting Power of all then outstanding Voting Securities of the
     Company; provided, however, that notwithstanding the foregoing, a Change in
     Control shall not be deemed to have occurred for purposes of this
     Subsection (iv):

                                        5
<PAGE>

     (1) Solely as a result of an acquisition of securities by the Company
     which, by reducing the number of Common Shares or other Voting Securities
     outstanding, increases (a) the proportionate number of Common Shares
     beneficially owned by any Person to more than twenty percent (20%) of the
     Common Shares then outstanding, or (b) the proportionate voting power
     represented by the Voting Securities beneficially owned by any Person to
     more than twenty percent (20%) of the Combined Voting Power of all then
     outstanding Voting Securities;

     (2) Solely as a result of an acquisition of securities directly from the
     Company, except for any conversion of a security that was not acquired
     directly from the Company; or

     (3) Solely as a result of a direct or indirect acquisition by Occidental
     Petroleum Corporation ("Occidental") or Millennium, or any Affiliate of
     either of them, of beneficial ownership of securities representing, (x) in
     the case of Occidental (with its Affiliates), no more than forty percent
     (40%), (y) in the case of Millennium (with its Affiliates), no more than
     forty percent (40%), and (z) in the case of Occidental (with its
     Affiliates) and Millennium (with its Affiliates) in the aggregate, no more
     than forty-nine percent (49%), of either (A) the then outstanding Common
     Shares or (B) the Combined Voting Power of all then outstanding Voting
     Securities of the Company, pursuant to or as contemplated under any
     agreement between the Company and Occidental and/or Millennium or
     Affiliates of either of them (including any subsequent related transaction
     or series of related transactions or acquisitions of Voting Securities of
     the Company by Occidental and/or Millennium or their Affiliates or
     assignees approved by the Incumbent Directors prior to the consummation of
     such transaction or series of related transactions) where, as a result of
     such transaction or series of related transactions, the Company or a
     Surviving Entity owns, directly or indirectly, a greater percentage equity
     interest in Equistar than was owned, directly or indirectly, by the Company
     immediately prior to such transaction or series of related transactions;

     provided, further, that if any Person referred to in paragraph (1) or (2)
     of this Subsection (iv) shall thereafter become the beneficial owner of
     additional

                                        6
<PAGE>

     shares or other ownership interests representing one percent (1%) or more
     of the outstanding Common Shares or one percent (1%) or more of the
     Combined Voting Power of the Company (other than (x) pursuant to a stock
     split, stock dividend or similar transaction or (y) as a result of an event
     described in paragraph (1), (2) or (3) of this Subsection (iv)), then a
     Change in Control shall be deemed to have occurred for purposes of this
     Subsection (iv).

(v) For purposes of this definition of Change in Control, the following
capitalized terms have the following meanings:

     (1) "Affiliate" shall mean, as to a specified person, another person that
     directly, or indirectly through one or more intermediaries, controls or is
     controlled by, or is under common control with, the specified person,
     within the meaning of such terms as used in Rule 405 under the Securities
     Act of 1933, as amended, or any successor rule.

     (2) "Combined Voting Power" shall mean the aggregate votes entitled to be
     cast generally in the election of the Board of Directors, or similar
     managing group, of a corporation or other entity by holders of then
     outstanding Voting Securities of such corporation or other entity.

     (3) "Person" shall mean any individual, entity (including, without
     limitation, any corporation, partnership, trust, joint venture, association
     or governmental body) or group (as defined in Sections 14(d)(3) or 15(d)(2)
     of the Exchange Act and the rules and regulations thereunder); provided,
                                                                    ---------
     however, that Person shall not include the Company, LYONDELL-CITGO Refining
     --------
     LP ("LCR") or Equistar, any of their subsidiaries, any employee benefit
     plan of the Company, LCR or Equistar or any of their majority-owned
     subsidiaries or any entity organized, appointed or established by the
     Company, LCR, Equistar or such subsidiaries for or pursuant to the terms of
     any such plan.

     (4) "Voting Securities" shall mean all securities of a corporation or other
     entity having the right under ordinary circumstances to vote in an election
     of the Board of Directors, or similar managing group, of such corporation
     or other entity.

                                        7
<PAGE>

                                    SECTION 4

                         INDEPENDENT PLAN ADMINISTRATOR

     Various provisions of this Trust Agreement refer to the term "Independent
Plan Administrator" which shall mean, unless stated otherwise in a specific
provision of this Trust Agreement, and, except as provided below, an entity
which is unrelated to, and unaffiliated with, the Company, and which, prior to a
Change in Control has accepted in writing the position of Independent Plan
Administrator under this Trust Agreement. The Independent Plan Administrator
shall not be considered to be related to or affiliated with the Company solely
as a result of an agreement between the Independent Plan Administrator and the
Company to provide individual financial counseling services to specified Company
executives or to provide financial counseling services to survivors of deceased
Company employees. The Independent Plan Administrator shall be appointed by the
Company and shall have its duties specified in an agreement executed by the
Company and the Independent Plan Administrator prior to a Change in Control. The
Trustee shall be given advance written notification of such appointment by the
Company. Following a Change in Control, if the Company had failed to designate
an Independent Plan Administrator prior to a Change in Control, the Independent
Plan Administrator shall be appointed by the Trustee following a Change in
Control and shall have its duties specified in an agreement executed by the
Trustee and the Independent Plan Administrator. In the event the Independent
Plan Administrator fails to act, provides services to the Company other than in
its capacity as Independent Plan Administrator other than as provided above, or
resigns, the Company prior to a Change in Control, or the Trustee after a Change
in Control, shall retain a successor Independent Plan Administrator.
Notwithstanding any other provision of this Trust Agreement, the Trustee shall
be responsible only for the prudent selection of an Independent Plan
Administrator after a Change in Control (i) following notice by the Company or
the Independent Plan Administrator of disqualification of the Independent Plan
Administrator through the provision of services to the Company other than in its
capacity as Independent Plan Administrator, (ii) upon resignation or failure to
act by the Company-appointed Independent Plan Administrator, or (iii) in the
event the Company failed to appoint an Independent Plan Administrator prior to a
Change in Control. The Trustee shall be entitled to conclusively rely on the
determinations of a qualified Independent Plan Administrator.

                                        8
<PAGE>

                                    SECTION 5

                                EXCESS REVERSION

     Prior to a Change in Control, upon a determination that the assets of the
Trust have a value exceeding one hundred twenty-five percent (125%) of the
actuarial present value of accrued but unpaid benefits of the Participating
Plans, considered on the basis of assets being allocated to each Participating
Plan, all or a portion of the amount of such assets which constitute the "Excess
Reversion" (as defined below) may be repaid to the Company upon direction of the
Company. However, prior to any such repayment, the Company must deliver to the
Trustee a certified statement by an actuary who is an Enrolled Actuary under
ERISA and who is not affiliated with the Company of (i) the amount equal to one
hundred (100%) percent of the actuarial present value of the accrued but unpaid
benefits under the Participating Plans, calculated on an individual plan basis,
as described above, (the "Certified Benefit Values"), (ii) the value of the
Trust assets, allocated to each Participating Plan, as described above, and
(iii) the amount, if any, by which the value of the Trust assets under (ii)
exceeds the Certified Benefit Values under (i), and (iv) the amount, if any, by
which the value of the Trust assets under (ii) exceeds one hundred twenty-five
(125%) percent of the Certified Benefit Values (the "Excess Reversion"). The
actuary shall make each determination required to prepare the certified
statement based on reasonable factors, assumptions and tables (as determined
solely by such actuary). The Trustee shall repay assets of the Trust to the
Company as directed by the Company and in an amount up to but not greater than
the Excess Reversion. Any repayment of assets of the Trust to the Company may be
made only prior to a Change in Control and shall be made within thirty (30) days
(or as soon as practicable) after the later of the Trustee's receipt of the
certified statement by the actuary and the Company's direction to make such a
payment. Any separate allocations of assets pursuant to this Section 5 shall be
solely for the purpose of completing the valuation tests described in this
Section and shall not reflect any legal commitment of assets to any
Participating Plan or to any Trust Beneficiary.

                                    SECTION 6

                         AUTHORITY OF INVESTMENT OFFICER

     Prior to a Change in Control, the Trustee shall be subject to the direction
of the Investment Officer (as defined below) of the Company with respect to the
investment of the assets of the Trust. Unless the Company and the Trustee have
mutually agreed in a separate writing that the Trustee shall have and exercise

                                        9
<PAGE>

investment discretion with respect to all or a portion of the assets of the
Trust, the Company shall have complete discretion with respect to the investment
of such assets at all times prior to a Change in Control, and shall direct the
Trustee accordingly. From time to time, the Trustee shall be notified in a
writing signed by an officer of the Company of the person or persons
constituting the "Investment Officer" for purposes of this Section and the
Trust. In each such notice, the Company shall warrant that all directions given
by the Investment Officer are proper. The Trustee shall have no responsibility
to review, or to consider the propriety of holding or selling any life
insurance, retirement income or annuity policies or contracts.

Notwithstanding the Company's discretion to invest the Trust assets, the Company
shall not exercise this discretion to reacquire part or all of the assets held
in the Trust by substitution of or exchange for any other property held by the
Company directly or indirectly through any third party, related or unrelated,
and whether or not the property is equivalent, marketable, liquid, or secured.

                                    SECTION 7

            DUTIES AND POWERS OF TRUSTEE WITH RESPECT TO INVESTMENTS

     After a Change in Control, the Trustee shall have sole discretion to invest
and reinvest the assets of, and to invest any additions to, the Trust in
personal property consisting of equity securities, debt instruments at the time
of purchase rated not less than BBB- by Standard & Poor's Corporation and its
successors ("S&P") or Baa3 by Moody's Investor Service, Inc. and its successors
("Moody's) or the equivalent of such ratings by S&P or Moody's for the types of
investments specified in Section 14 of this Trust Agreement ("Investment Grade
Securities") with the power to appoint any independent investment manager to
fulfill such obligation; provided, however, that (i) the Trustee shall be
subject to any prior directions and instructions of the Company prior to a
Change in Control regarding insurance, retirement income or annuity policies or
contracts unless the Independent Plan Administrator otherwise directs the
Trustee, (ii) the Independent Plan Administrator shall have sole power on and
after a Change in Control regarding the management, including the purchase, sale
or retention (including all powers of the Company under Sections 7(C) and 9 of
this Trust Agreement) of any insurance, retirement income or annuity policies or
contracts, (iii) any such powers of the Trustee or Independent Plan
Administrator described above may not be delegated, in whole or in part, after a
Change in Control to the Company or any affiliate of the Company, and (iv) the
Trustee shall not be required to

                                       10
<PAGE>

liquidate any investments that were made pursuant to the directions of the
Investment Officer that are not Investment Grade Securities. Subject to the
foregoing provisions of Sections 6 and 7 of this Trust Agreement, the Trustee
shall have the following powers:

     A. To invest and reinvest the Trust, without distinction between principal
     and income, in any form of domestic or foreign real or personal property,
     whether or not productive of income or consisting of wasting assets,
     provided that investments of the Plan shall be diversified so as to
     minimize the risk of large losses, unless under the circumstances it is
     clearly prudent not to do so;

     B. To sell, convey, redeem, exchange, grant options for the purchase or
     exchange of, or otherwise dispose of, any real or personal property, other
     than an exchange of Trust assets to the Company as described in Section 6,
     at public or private sale, for cash or upon credit, with or without
     security, without obligation on the part of any person dealing with the
     Trustee to see to the application of the proceeds of, or to inquire into
     the propriety of, any such disposition;

     C. To purchase and maintain, as owner, life insurance policies as provided
     in Section 9 of this Trust Agreement and only as directed by the Investment
     Officer of the Company prior to a Change in Control and the Independent
     Plan Administrator after a Change in Control;

     D. To exercise, personally or by general or limited proxy or power of
     attorney, all voting and other rights appurtenant to any investment held in
     the Trust and to delegate discretionary power to exercise all or any such
     rights to trustees of a voting trust for any period of time;

     E. To join in or oppose any reorganization, recapitalization,
     consolidation, merger or liquidation or any plan therefor, or any lease,
     mortgage or sale of the property of any organization the securities of
     which are held in the Trust; to pay from the Trust any assessments, charges
     or compensation specified in any plan of reorganization, recapitalization,
     consolidation, merger or liquidation; to deposit any property with any
     committee or depository; and to retain any property allotted to the Trust
     in any reorganization, recapitalization, consolidation, merger or
     liquidation;

                                       11
<PAGE>

     F. To exercise or sell, personally or by general or limited power of
     attorney, any conversion, subscription or other rights, including the right
     to vote, appurtenant to any investment held in the Trust;

     G. To borrow money for purposes of this Trust Agreement in any amount and
     upon any reasonable terms and conditions from any lender (other than the
     Trustee in its individual capacity), and to pledge or mortgage any property
     held in the Trust to secure the repayment of any such loan;

     H. To compromise, settle or arbitrate any claim, debt, or obligation of or
     against the Trust; to enforce or abstain from enforcing any rights, claim,
     debt or obligation; and to abandon any property determined by it to be
     worthless;

     I. To commence or defend suits or legal proceedings and to represent the
     Trust in all suits or legal proceedings; to settle, compromise or submit to
     arbitration any claims, debts or damages, due to or owing from the Trust;

     J. To engage any legal counsel, including counsel to the Company, any
     enrolled actuary, or any other suitable agents; to consult with such
     counsel, enrolled actuary, or agents with respect to the construction of
     this Trust Agreement, the duties of the Trustee hereunder, the transactions
     contemplated by this Trust Agreement or any act which the Trustee proposes
     to take or omit; to rely upon the advice of such counsel, enrolled actuary
     or agents and to pay all reasonable fees, expenses and compensations of
     such counsel, actuary or agents; and

     K. To organize and incorporate under the laws of any state one or more
     corporations (and to acquire an interest in any corporation that it may
     have organized and incorporated) for the purpose of acquiring and holding
     title to any property, interest or rights that the Trustee is authorized to
     acquire.

                                       12
<PAGE>

                                    SECTION 8

                   ADDITIONAL POWERS AND DUTIES OF THE TRUSTEE

     Following a Change in Control should the Company attempt to enjoin any
benefit payment (other than for reasons of manifest error) that the Trustee has
been directed to make under the terms of this Trust Agreement, the Trustee shall
commence legal action to allow such payment. The Trustee may withdraw from the
Trust assets any amounts it deems necessary to pay legal expenses, including
attorneys' fees, incurred in the course of such legal action. Under no
circumstances shall the Trustee be required to make such payments for benefits
or expenses from any source other than the Trust. Except as otherwise limited by
Section 6, the Trustee shall also have the following powers:

     A. To cause any asset, real or personal, to be held in a corporate
     depository or federal book entry account system or registered in the
     Trustee's name or in the name of a nominee or in such other form as the
     Trustee deems best without disclosing the trust relationship; provided,
     however, that nothing contained in this Section shall be deemed to relieve
     the Trustee of any custodial responsibility allocated to it under this
     Trust Agreement;

     B. To employ agents in the management of the Trust, including employees of
     the Company and its subsidiaries and affiliates prior to a Change in
     Control, provided, that the Trustee shall be responsible for the acts of
     such agents (other than acts of the United States Postal Service) as much
     as if they were acts of the Trustee;

     C. To make, execute and deliver, as the Trustee, any deeds, leases, notes,
     bonds, guarantees, mortgages, conveyances, contracts, waivers, releases or
     other instruments in writing that the Trustee may deem necessary or
     desirable in the exercise of its powers under this Trust Agreement;

     D. To transfer assets of the Trust to a successor Trustee as provided in
     Section 24 of this Trust Agreement;

     E. To hold any portion of the Trust in cash pending investment, or for the
     payment of expenses or Supplemental Benefits; and

     F. To exercise, generally, any of the powers which an individual owner
     might exercise in connection with property, either real, personal or mixed
     held by the Trust and to do

                                       13
<PAGE>

     all other acts that the Trustee may deem necessary or proper to carry out
     any of the powers set forth in this Trust Agreement or otherwise in the
     best interests of the Trust.

                                    SECTION 9

                        INSURANCE POLICIES AND CONTRACTS

     Prior to a Change in Control, the Company reserves the right to transfer
life insurance, retirement income or annuity policies or contracts, to the
Trust, regardless of the nature or type of such contract and regardless of the
Company's interest in, or power to direct the investments under, such policies
or contracts, or prior to a Change in Control, to direct the Trustee to purchase
any such policies or contracts, and following a Change in Control the
Independent Plan Administrator shall have the same powers regarding such
insurance policies and contracts. Any such policy or contract shall be an asset
of the Trust subject to the claims of the Company's creditors in the event of
insolvency, as specified in Sections 21.1 and 21.2 of this Trust Agreement. The
proceeds of any life insurance policy shall, upon the death of the insured, be
paid to the Trust. The Trustee shall be under no duty to question any direction
of the Company or the Independent Plan Administrator, to review the form of any
such policies or contracts or the selection of the issuer thereof, or to make
suggestions to the Company, the Independent Plan Administrator or to the issuer
thereof with respect to the form of such policies or contracts prior to a Change
in Control, or to question any such directions, to review such policies, forms
or selections or to make such suggestions to the Independent Plan Administrator
following a Change in Control. Prior to a Change in Control, the Company may
direct the Trustee to exercise the powers of the contract holder under any such
policies or contracts, and the Trustee shall exercise such powers only upon the
direction of the Company. Following a Change in Control, the Independent Plan
Administrator may direct the Trustee to exercise the powers of the contract
holder under any such policies or contracts and the Trustee shall exercise such
powers only upon direction of the Independent Plan Administrator.
Notwithstanding anything to the contrary contained in any Participating Plan,
the Trustee (i) shall be fully protected in acting in accordance with written
directions of the Company prior to a Change in Control and with the written
directions of the Independent Plan Administrator following a Change in Control,
and (ii) shall be under no liability for any loss of any kind that may result by
reason of any action taken or omitted by it in accordance with such direction of
the Company or the Independent Plan Administrator, or by reason of inaction in
the absence of such written directions

                                       14
<PAGE>

from the Company or the Independent Plan Administrator. No insurance carrier
shall for any purpose be deemed a party to this Trust Agreement or be
responsible for the validity or sufficiency hereof. Notwithstanding the fact
that it may have knowledge of the terms of this Trust, the obligations of such
insurance carrier shall be measured and determined solely by the terms and
conditions of the policies or contracts issued by it. Any such insurance carrier
shall not be under any obligation to any person, partnership, corporation, trust
or association other than as stated in such policies or contracts.

                                   SECTION 10

                           PARTICIPATING PLAN RECORDS

     A separate written record of the accrued and vested benefit, as applicable,
for each Trust Beneficiary of each Participating Plan, based on a certified
listing provided by the Company prior to a Change in Control and by the
Independent Plan Administrator following a Change in Control, shall be
maintained. The Company or the Independent Plan Administrator, as applicable,
shall provide such certified listing at least once each calendar year to the
Trustee.

                                   SECTION 11

                                    VALUATION

     The Trust shall be revalued by the Trustee at current values, as determined
by the Trustee, as of the last business day of each calendar year and as of such
additional dates as the Trustee and Company shall determine to be appropriate
("Valuation"). The Company prior to a Change in Control and the Independent Plan
Administrator following a Change in Control annually shall provide a
certification of value for each life insurance, retirement income or annuity
policy or contract held as an asset of the Trust. The Trustee may rely upon the
certification of value received from the Company prior to a Change in Control or
the Independent Plan Administrator following a Change in Control for each such
policy or contract held as an asset of the Trust.

                                       15
<PAGE>

                                   SECTION 12

         PARTICIPANT RECORDS PRIOR TO AND FOLLOWING A CHANGE IN CONTROL

     Section 12.1. In addition to the records maintained under Section 10, the
     -------------
Company shall maintain a separate written record that reflects for each Trust
Beneficiary, the Trust Beneficiary's vested benefits under each Participating
Plan and the portion of the Trust or Subtrust allocated to such Trust
Beneficiary (a "Participant Record"). Prior to a Change in Control, the Trustee
shall certify to the Company the results of each Valuation. Following receipt of
a Valuation, each Participant Record shall be equitably adjusted by the Company
to reflect its share of the income, expense, appreciation and depreciation since
the preceding Valuation date. Such Participant Records shall be maintained
solely for record keeping purposes prior to a Change in Control, without any
legal entitlement of a Trust Beneficiary to amounts allocated to his or her
Participant Record.

         Section 12.2. On and after a Change in Control, the Independent Plan
         -------------
Administrator (i) shall continue to maintain the Participant Records and the
records described in Section 10 of this Trust Agreement, (ii) shall thereafter
be solely responsible for the updating of such Participant Records and for
requesting the Trustee to make any additional Valuations the Trustee and
Independent Plan Administrator deem appropriate, and (iii) shall be entitled to
rely on the most recent certified listing delivered by the Company to the
Trustee prior to a Change in Control in the maintenance and updating of such
Participant Records following a Change in Control. No new Participant Records
may be established following a Change in Control. The Independent Plan
Administrator may, but is not required to, rely on any certified listing
provided by the Company pursuant to Section 10 following a Change in Control.
Following a Change in Control, the sole source of Trust assets from which the
Independent Plan Administrator may direct that a Trust Beneficiary's
Supplemental Benefits be paid to the extent the Trustee, rather than the
Company, pays the Supplemental Benefits shall be that portion of the assets of
the Trust or Subtrust allocated to the Participant Record of such Trust
Beneficiary.

                                   SECTION 13

                                TRUSTEE ACCOUNTS

     Within 120 days after the close of each fiscal year of the Trust and any
other period agreed upon by the Trustee and the Company, and within ninety (90)
days of the date of the removal or resignation of the Trustee, the Trustee shall
file with the

                                       16
<PAGE>

Company a written account ("Trustee Account") setting forth all investments,
receipts, disbursements, withdrawals and other transactions effected by it
during the period from the date of its last such Trustee Account and a list of
the assets of the Trust at the close of such period. Such Trustee Account may be
in the form of monthly or quarterly statements which taken together reflect the
matters set forth in the preceding sentence. As between the Company and the
Trustee, the Trustee shall be forever released and discharged from all liability
with respect to the propriety of acts and transactions shown in such Trustee
Account following a Change in Control, and shall be forever released and
discharged from all liability with respect to the propriety of acts and
transactions shown in such Trustee Account prior to a Change in Control except
with respect to any such act or transaction as to which the Company shall,
within a 90-day period of receipt of the Trust Account, file written objections
with the Trustee and except that no such accounting shall foreclose any
liability of the Trustee to the Company arising under Section 23.3 of this Trust
Agreement.

                                   SECTION 14

                               INVESTMENT OF CASH

     Prior to a Change in Control, the Trustee shall keep any cash held
hereunder from time to time on deposit in its own banking department or
elsewhere as the Trustee elects, consistent with instructions provided by the
Investment Officer of the Company regarding specific types of permissible
investments and permissible depositories. Prior to a Change in Control, in the
absence of contrary instructions from the Investment Officer, and following a
Change in Control, in the absence of contrary instructions from the Independent
Plan Administrator regarding insurance, retirement income or annuity policies or
contracts, and anything herein to the contrary notwithstanding, the Trustee,
without obtaining any prior approvals, may at its discretion invest cash
balances held by the Trustee from time to time in deposits in its own banking
department, in short-term cash equivalents having ready marketability, including
but not limited to U.S. Treasury bills, commercial paper rated not less than
A1/P1 (including such forms thereof as may be available through the Trustee's
own trust department), certificates of deposit, and similar type securities,
having a maturity of 18 months or less, including participation in common or
collective funds composed thereof. Prior to a Change in Control, the Trustee may
sell any such short-term investments as may be necessary to carry out the
instructions of the Investment Officer of the Company regarding more permanent
type investments or to permit any distributions or

                                       17
<PAGE>

transfers directed hereunder. The Trustee may make any such sales it deems
appropriate following a Change in Control, including sales necessary to carry
out the instructions of the Independent Plan Administrator.

                                   SECTION 15

                             PAYMENTS BY THE TRUSTEE

     Section 15.1. The establishment of the Trust and the payment or delivery to
     -------------
the Trustee of money or other property acceptable to the Trustee shall not vest
in any Trust Beneficiary any right, title or interest in or to any assets of the
Trust.

     Section 15.2. The Trustee shall be directed as to the amount, timing, and
     -------------
form of benefits to be paid to any Trust Beneficiary. Prior to a Change in
Control, the Company shall so direct the Trustee and by giving such directions
shall be deemed to warrant their propriety. Following a Change in Control, the
Independent Plan Administrator shall so direct the Trustee and by giving such
directions, shall be deemed to warrant their propriety.

     Section 15.3. The Trustee shall withhold all or any part of any payment for
     -------------
the payment of any tax liability and the Trustee shall discharge such liability
as and when directed by the Company prior to a Change in Control and by the
Independent Plan Administrator following a Change in Control. All withholding,
related filings and reports are the responsibility of the Company.

     Section 15.4. The Company intends to make benefit payments from its assets
     -------------
as it deems appropriate, in its sole discretion, provided, that, notwithstanding
this intent, if the Trust is not sufficient, before or after a Change in
Control, to make one or more payments of Supplemental Benefits to the Trust
Beneficiaries under the relevant Participating Plan, the Company shall make the
balance of each such payment as it falls due.

     Section 15.5. Except as otherwise provided herein, in the event of any
     -------------
final determination by the Internal Revenue Service or a court of competent
jurisdiction which determination is not appealable or the time for appeal or
protest of which has expired, or the receipt by the Trustee of an unqualified
opinion of tax counsel selected by the Trustee or Company, which determination
determines, or which opinion concludes, that any Trust Beneficiary is subject to
federal income taxation on amounts held in trust to pay Supplemental Benefits
hereunder prior to the distribution to the Trust Beneficiary of such
Supplemental Benefits, the Trustee shall, on receipt by the Trustee of such
opinion or actual notice

                                       18
<PAGE>

of such determination, pay to such Trust Beneficiary the portion of the Trust
corpus includible in such Trust Beneficiary's federal gross income, and the
Trust Beneficiary's Supplemental Benefits shall be canceled to the extent of
such payment, provided that the amount, form and timing of such payments and the
amount and method of such cancellation shall be as directed by the Company prior
to a Change in Control and by the Independent Plan Administrator following a
Change in Control.

                                   SECTION 16

                       DETERMINATION OF CHANGE IN CONTROL

     The Company shall immediately notify the Trustee in writing of the
occurrence of a Change in Control as the result of any event specified in
Section 3.1 of this Trust Agreement. If the Trust Department of the Trustee
receives written notice from a third party (including the Company's outside
auditors) of the alleged occurrence of a Change in Control as the result of any
event specified in Section 3.1 of this Trust Agreement, the Trustee shall
request the Company to confirm or deny such occurrence and the Company shall
make such confirmation or denial within forty-five (45) days following receipt
of the Trustee's request. In order to deny that a Change in Control as the
result of any event specified in Section 3.1 of this Trust Agreement has
occurred, the Company shall provide with its notice a certificate, in a form
reasonably satisfactory to the Trustee, from an independent accounting firm,
which firm may be the accounting firm engaged by the Company to be its outside
auditors, certifying that a Change in Control as the result of an event
specified in Section 3.1 of this Trust Agreement has not occurred. Pending the
Company's response, the Trustee shall not repay, pursuant to Section 5 of this
Trust Agreement, any assets of the Trust to the Company and no new Trust
Beneficiaries may be added to the Trust. The Trustee shall be entitled to
conclusively rely upon such confirmation or denial.

                                   SECTION 17

                     TRUSTEE COMPENSATION AND TRUST EXPENSES

     The Trustee shall be paid such reasonable compensation for its service as
Trustee as shall from time to time be agreed upon by Company and Trustee. This
compensation and all expenses incurred by the Trustee in the management and
protection of the Trust, including administration, accounting and legal fees,
shall be reimbursed by the Company within 30 days after the Company's

                                       19
<PAGE>

receipt of a bill from the Trustee for any fees and expenses paid from the Trust
assets. To the extent the Company fails to reimburse the Trustee, this
compensation and extraordinary and non-recurring expenses shall be charged by
the Trustee against the Trust.

                                   SECTION 18

                           PAYMENT OF TAXES BY TRUSTEE

     Prior to a Change in Control, to the extent that any taxes levied or
assessed upon the Trust are not paid by the Company, the Trustee shall pay such
taxes out of the Trust as directed by the Company. The Trustee shall, if
requested by the Company prior to a Change in Control, and solely in its
discretion following a Change in Control, contest the validity or amount of any
tax assessment, claim or demand respecting the Trust or any part thereof. The
Company itself may contest the validity of any such taxes prior to a Change in
Control.

                                   SECTION 19

                              CUSTODIANS AND AGENTS

     When so instructed by the Company prior to a Change in Control with respect
to Trust assets for which the Company has investment responsibility, and at the
Trustee's sole discretion with respect to assets for which the Trustee has
investment responsibility, the Trustee shall deposit any assets held by it with
a custodian, which may not include the Company or an affiliate of the Company,
and the Company shall hold harmless and defend the Trustee against any liability
arising or asserted to arise out of the Trustee's compliance with directions
under this Section 19 of this Trust Agreement.

                                   SECTION 20

                         LIABILITY FOR BENEFIT PAYMENTS

     The Company shall remain primarily liable to pay Supplemental Benefits
under the Participating Plans. However, the Company's liability under the
Participating Plans shall be reduced or offset to the extent Supplemental
Benefit payments are made from the Trust.

                                       20
<PAGE>

                                   SECTION 21

                               COMPANY INSOLVENCY

     Section 21.1. The Company shall have the duty to inform the Trustee in
     -------------
writing if the Company becomes insolvent, as hereinafter defined. When so
informed, the Trustee shall immediately discontinue payments of Supplemental
Benefits to Trust Beneficiaries, and shall hold the assets of the Trust for the
benefit of the Company's general creditors. The Company shall be considered
"insolvent" for purposes of this Trust Agreement in the event of the following:

     A.   the Company's inability to pay debts as they mature;

     B.   a general assignment for the benefit of the Company's creditors;

     C.   the voluntary commencement by the Company of any proceeding under
          Title 11 of the United States Code or any other law of any
          jurisdiction for the relief, liquidation or rehabilitation of debtors
          (all of which proceedings are hereinafter collectively referred to as
          "Insolvency Proceedings");

     D.   the making of an admission by the Company of any of the material
          allegations of, or consenting to, or acquiescing in, a petition,
          application, motion or complaint commencing an Insolvency Proceeding
          or the seeking by the Company of the appointment of, or the taking of
          possession by, a receiver, custodian, trustee, liquidator or similar
          official of or for it or for a substantial part of its assets;

     E.   the involuntary commencement of an Insolvency Proceeding against the
          Company which is not fully stayed, timely controverted or dismissed
          within one hundred twenty (120) days after the filing thereof; or

     F.   the appointment of, or the taking of possession by, a receiver,
          custodian, trustee, liquidator or similar official of or for the
          Company or of or for all or substantially all of its assets.

     If the Trust Department of the Trustee receives a written allegation from a
third party that the Company has become insolvent, the Trustee shall appoint an
independent accounting firm to determine within sixty (60) days whether the
Company is insolvent under the terms of this Trust Agreement and, pending such
determination, the Trustee shall discontinue payments of

                                       21
<PAGE>

Supplemental Benefits to Trust Beneficiaries, shall hold the Trust assets for
the benefit of the Company's general creditors, and shall resume payments of
Supplemental Benefits to Trust Beneficiaries only after such independent
accounting firm, has determined that the Company is not insolvent (or is no
longer insolvent, assuming the independent accounting firm initially determined
the Company to be insolvent) or after receipt of an order of a court of
competent jurisdiction. In making its determination, such independent accounting
firm, may rely on a letter from the Company's Controller, or its Independent
Auditors, or on relevant information concerning the Company's solvency which has
been furnished to the Trustee by any other person. Notwithstanding any other
provision of this Trust Agreement, the Trustee shall be responsible only for the
prudent selection of the independent accounting firm, and shall conclusively
rely on such firm's determination. Nothing in this Trust Agreement shall in any
way enlarge or diminish the rights of the Trust Beneficiaries in the event the
Company is insolvent to pursue their rights as general creditors of the Company
with respect to their Supplemental Benefits or otherwise.

     Section 21.2. In the case of the Company's notification of insolvency or
     -------------
the determination of insolvency by an independent accounting firm as provided in
Section 21.1 of this Trust Agreement, the Trustee shall deliver any
undistributed principal and income in the Trust to satisfy claims of the
Company's general creditors as directed by a court of competent jurisdiction.

     Section 21.3. If the Trustee discontinues payments of Supplemental Benefits
     -------------
from the Trust pursuant to Section 21.1 of this Trust Agreement and subsequently
resumes such payments, the first payment to each Trust Beneficiary following
such discontinuance shall include the aggregate amount of all payments which
would have been made to such Trust Beneficiary in accordance with the relevant
Participating Plan during the period of such discontinuance, less the aggregate
amount of payments of Supplemental Benefits made to such Trust Beneficiary by
the Company during any such period of discontinuance. Prior to a Change in
Control, the Trustee shall be directed as to the amount, timing, form and payee
of all such payments by the Company. Following a Change in Control, the Trustee
shall be so directed by the Independent Plan Administrator.

                                       22
<PAGE>

                                   SECTION 22

                 TRUSTEE RESPONSIBILITY FOR PLAN ADMINISTRATION
                AND TRUST RECORD KEEPING AFTER CHANGE IN CONTROL

     Section 22.1. Following a Change in Control, the Independent Plan
     -------------
Administrator shall assume full responsibility for the interpretation and
application of the Participating Plans' provisions and authorization for the
payment of benefits as such provisions relate to payments to be made from the
Trust. The Independent Plan Administrator shall have full discretion with
respect to the performance of such duties and shall not be required to follow
any direction of the Company, any successor thereto, or any other entity in
performing such duties.

     Section 22.2. Following a Change in Control, the Trustee shall maintain all
     -------------
records dealing with the Trust and its investments; provided, however, that the
responsibility for the maintenance of Plan records relating to Trust
Beneficiaries, Participant Records and all other plan administration shall be
the sole responsibility of the Independent Plan Administrator. The Trustee shall
have no responsibility for the maintenance of the Participating Plan.

                                   SECTION 23

                        TRUSTEE STANDARDS OF PERFORMANCE
                              AND INDEMNIFICATIONS

     Section 23.1. Trustee shall perform all of its functions hereunder (i) with
     -------------
the care, skill, prudence, and diligence which under the circumstances then
prevailing a prudent man acting in a like capacity and familiar with such
matters would use in the conduct of an enterprise of a like character and with
like aims, or (ii) in accordance with such other standard as may be required
from time to time by law, and shall not be liable for any conduct on its part
(including reliance on advice of counsel) which conforms to that standard.

     Section 23.2. The Company (which has the authority to do so under the laws
     -------------
of its state of incorporation) shall indemnify the Trustee and defend it and
hold it harmless from and against any and all direct liabilities, losses,
claims, suits or expenses (excluding indirect, consequential, special and
punitive damages but including attorney's fees) of whatsoever kind and nature
which may be imposed upon, asserted against or incurred by the Trustee at any
time by reason of its carrying out its responsibilities or providing services
hereunder or by reason of any act or failure to

                                       23
<PAGE>

act under this Trust Agreement, except to the extent that any such liability,
loss, claim, suit or expense arises directly from the Trustee's gross negligence
or willful misconduct in the performance of responsibilities specifically
allocated to it under this Trust Agreement. The provisions of this Section 23.2
shall survive the termination of this Trust Agreement.

     Section 23.3. The Trustee (which has the authority to do so under the laws
     -------------
of its state of incorporation) shall indemnify the Company and defend it and
hold it harmless from and against any and all direct liabilities, losses,
claims, suits or expenses (including attorney's fees) of whatsoever kind and
nature which may be imposed upon, asserted against or incurred by the Company at
any time directly by reason of the Trustee's gross negligence or willful
misconduct in the performance of responsibilities specifically allocated to it
under this Trust Agreement. The provisions of this Section 23.3 shall survive
the termination of this Trust Agreement.

                                   SECTION 24

                       REMOVAL AND RESIGNATION OF TRUSTEE

     Prior to a Change in Control, Trustee may be removed by the Company at any
time upon not less than thirty (30) days' written notice. The Trustee may resign
at any time prior to or following a Change in Control, upon not less than ninety
(90) days' written notice. In either case, such notice may be wholly or
partially waived by the party to whom it is due. Upon Trustee's removal or
resignation prior to a Change in Control, the Company shall appoint a successor
Trustee, who shall have no responsibility for the acts or omissions of any
predecessor trustee, and upon the Trustee's resignation following a Change in
Control the Trustee shall petition a court of competent jurisdiction to name a
successor trustee which in no event may be the Company or an affiliate of the
Company or a successor thereto; provided, however, that the successor trustee in
either case shall have the same powers and duties as those conferred upon the
Trustee hereunder, and upon acceptance of such appointment by the successor
Trustee, the Trustee shall assign, transfer and pay over to such successor
Trustee the Trusts and properties then constituting the Trust. If the Company
fails within a reasonable time to name a successor Trustee or otherwise direct
proper disbursement of the Trust prior to a Change in Control, the Trustee may
apply to any court of competent jurisdiction for appropriate relief. The Trustee
may in any event reserve such reasonable sum of money as it may deem advisable,
to provide for any charges against the Trust for which it may be liable, and for

                                       24
<PAGE>

payment of its fees and expenses in connection with the settlement of its
account or otherwise. Any balance of such reserve remaining after the payment of
such fees and expenses shall be paid over as aforesaid.

                                   SECTION 25

                   TERMINATION OF PARTICIPATING PLAN OR PLANS

     If a Participating Plan is wholly or partially terminated prior to a Change
in Control, the Trustee shall disburse the portion of the Trust affected by the
termination as directed by the Company. If a Participating Plan is wholly or
partially terminated following a Change in Control, Trustee shall disburse the
portion of the Trust affected by the termination as directed by the Independent
Plan Administrator.

                                   SECTION 26

                        RIGHTS OF COMPANY TO TRUST ASSETS

     Section 26.1. Prior to a Change in Control, the Company shall have no
     -------------
right, title or interest in the Trust, nor shall any part of the Trust revert to
or be repaid to the Company, until all benefits due under all Participating
Plans have been paid pursuant to Section 25 of this Trust Agreement, unless, at
any time, there is a determination that the assets of the Trust have a value
exceeding one hundred twenty-five percent (125%) of the lump sum actuarial
equivalent value of accrued but unpaid benefits under the Participating Plans
pursuant to Section 5 of this Trust Agreement. The amount of such excess may be
repaid to the Company, upon direction of the Company pursuant to the provisions
of Section 5.

     Section 26.2. On and after the occurrence of a Change in Control, the
     -------------
Company shall have no right, title or interest in the Trust, nor shall any part
of the Trust revert to or be repaid to the Company.

                                       25
<PAGE>

                                   SECTION 27

                               AMENDMENTS OF TRUST

     Section 27.1. Prior to a Change in Control, the Company may amend this
     -------------
Trust Agreement by an instrument in writing signed by an authorized officer of
the Company provided that no such amendment shall make this Trust revocable or
divert any part of the Trust to purposes other than payment of Supplemental
Benefits, payments under Sections 2 or 5 of this Trust Agreement, or defrayal of
reasonable expenses of administering the Participating Plans. The Trustee's
consent shall be required for any amendment affecting its duties,
responsibilities or rights. No amendment affecting the duties, responsibilities
or rights of the Trustee shall take effect until thirty (30) days after a copy
of said amendment is furnished to the Trustee or, if the Trustee gives notice of
resignation within such 30 day period, until the resignation becomes effective,
provided, that the Trustee may, in writing, waive the 30 day requirement.

     Section 27.2. Following a Change in Control, this Trust Agreement may not
     -------------
be amended.

                                   SECTION 28

                              TERMINATION OF TRUST

     Section 28.1. Prior to a Change in Control, the Company may not terminate
this Trust for reasons other than those provided in (A) and (B) below.
Otherwise, this Trust shall be irrevocable. Removal or resignation of a Trustee
pursuant to Section 24 shall not be deemed a termination of this Trust
Agreement.

     A. This Trust will terminate if a federal court determines, after
     exhaustion of all appeals, that the Trust causes any of the Participating
     Plans to cease to be "unfunded" under the provisions of ERISA.

     B. The Company may terminate this Trust if the Company determines, based on
     advice of legal counsel satisfactory to the Trustee, that there is a
     significant risk that the Trust would cause any of the Participating Plans
     to be cease to be unfunded under ERISA prior to actual payment of any
     Supplemental Benefits. For purposes of this section, "significant risk"
     shall be based on (i) judicial authority or opinion of the U.S. Department
     of Labor, Treasury Department or Internal Revenue Service or (ii) a
     required

                                       26
<PAGE>

     amendment under ERISA or the Internal Revenue Code, which failure to amend
     could result in significant penalty to the Company.

     If this Trust Agreement is terminated under (A) or (B), the Trust assets
shall be distributed, in accordance with the Company's written direction, as
follows:

     (i) If the Company determines it is possible to create a new trust which
     does not result in a Trust Beneficiary's constructive receipt of
     Supplemental Benefits under any Participating Plan or which will retain the
     Participating Plan's status as "unfunded" under ERISA, Trust assets shall
     be transferred to the new trust. The terms of the new trust shall be
     similar in all other respects to this Trust.

     (ii) If the Company determines that it is not possible to create a new
     trust, then the assets shall be distributed according to the allocation to
     the Trust Beneficiaries under Section 12.1.

     When all payments which have or may become payable pursuant to the terms of
this Trust have been made or the Trust has been exhausted pursuant to a
termination of this Trust Agreement under (A) or (B) above prior to a Change in
Control, the Trustee shall pay all remaining assets to the Company upon the
Company's certification of payments, subject to the Trustee's right to reserve
such amounts it reasonably determines to be necessary to pay outstanding and
accrued charges against the Trust.

     Section 28.2. On and after the occurrence of a Change in Control, the
     -------------
Independent Plan Administrator may in its discretion direct the Trustee to
terminate this Trust Agreement and in conjunction therewith the Independent Plan
Administrator shall direct the Trustee as to the names of the Trust
Beneficiaries who are to receive payments and the time, amount and form of
payment of Supplemental Benefits and any remaining assets of the Trust, subject
to the Trustee's right to reserve such amounts the Trustee determines necessary
for outstanding and accrued charges against the Trust.

                                   SECTION 29

                                   SUCCESSORS

     Any successor in interest to the Trustee shall automatically become Trustee
under this Trust Agreement.

                                       27
<PAGE>

                                   SECTION 30

                                 COMMUNICATIONS

     Any communications (including notices, instructions, or directions)
required or permitted hereunder to be given by the Company shall be given in
writing addressed to the Trustee and signed by an officer of the Company or
other person or persons whom the Company notifies the Trustee are from time to
time authorized to sign such communications, and the Company warrants that all
communications given pursuant to this Section 30 may be relied upon by the
Trustee. The Company shall furnish the Trustee specimen signatures of all
persons authorized to sign communications to the Trustee.

                                   SECTION 31

                             UNCLAIMED DISTRIBUTIONS

     If any benefit payment mailed by regular U.S. Mail to the last address of
the payee furnished by the Company is returned unclaimed, the Trustee shall so
notify the Company and shall discontinue further payments to such payee until it
receives further instructions of the Company.

                                   SECTION 32

                           PROHIBITION OF ASSIGNMENTS

     Except insofar as applicable law may otherwise require and subject to
Sections 1, 2, 21.1 and 21.2 of this Trust Agreement, (i) no amount payable to
or in respect of any Trust Beneficiary at any time under the Trust shall be
subject in any manner to direction by anticipation, sale, transfer, assignment,
bankruptcy, pledge, attachment, or charge of any kind, and any attempt to so
alienate, sell, transfer, assign, pledge, attach, change or otherwise encumber
any such amount, whether presently or thereafter payable, shall be void and (ii)
the Trust shall in no manner be liable for or subject to the debts or
liabilities of any Trust Beneficiary. No amount held under this Trust Agreement
shall be subject to voluntary or involuntary alienation.

                                       28
<PAGE>

                                   SECTION 33

                                  GOVERNING LAW

     This Trust Agreement shall be governed by and construed under the laws of
the State of Delaware in all respects.

                                   SECTION 34

                                    EXECUTION

     This Trust Agreement may be executed in counterparts, each of which shall
be an original although the others are not produced.

     IN WITNESS WHEREOF, the parties have caused this Trust Agreement to be
executed as of the date first written above.

ATTEST:                                     LYONDELL CHEMICAL COMPANY

                                            By:
----------------------------                   ---------------------------------
Assistant Secretary                           Allen C. Holmes
                                              Vice President & Chairman,
                                            Benefits Administrative Committee

ATTEST:                                     WILMINGTON TRUST COMPANY

                                            By:
----------------------------                   ---------------------------------

                                       29
<PAGE>

                                   APPENDIX A
                                       TO
                            LYONDELL CHEMICAL COMPANY
                      SUPPLEMENTAL EXECUTIVE BENEFIT PLANS
                                 TRUST AGREEMENT

Lyondell Chemical Company Supplementary Executive Retirement Plan

Lyondell Chemical Company Executive Deferral Plan

                                       30<PAGE>

                                                                   EXHIBIT 10.11

Lyondell Chemical Company

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

ELECTIVE DEFERRAL PLAN FOR NON-EMPLOYEE DIRECTORS

As Amended and Restated Effective January 1, 2002
<PAGE>

                                TABLE OF CONTENTS

<TABLE>
<S>                                                                                                                <C>
ARTICLE I         GENERAL PROVISIONS.............................................................................   1

   Section 1.1.   Purpose and Intent of Plan.....................................................................   1

   Section 1.2.   Effective Date of Plan.........................................................................   1

   Section 1.3.   Definitions....................................................................................   1

ARTICLE II        PARTICIPATION AND DEFERRAL ELECTIONS...........................................................   6

   Section 2.1.   Participation..................................................................................   6

   Section 2.3.   Deferral Elections.............................................................................   6

   Section 2.4.   Limitation on Deferral.........................................................................   6

   Section 2.5.   Termination of Service.........................................................................   6

   Section 2.6.   Modification of Deferral Elections.............................................................   6

ARTICLE III       DEFERRED COMPENSATION ELECTIONS................................................................   7

   Section 3.1.   Accounts.......................................................................................   7

   Section 3.2.   Deferred Compe.................................................................................   7

   Section 3.3.   Interest Rate..................................................................................   7

   Section 3.4.   Determination of Accounts......................................................................   7

   Section 3.5.   Vesting of Accounts............................................................................   8

   Section 3.6.   Statement of Accounts..........................................................................   8

ARTICLE IV        PLAN BENEFITS..................................................................................   8

   Section 4.1.   Plan Benefit...................................................................................   8

   Section 4.2.   Distribution upon Termination of Service.......................................................   8

   Section 4.3.   Survivor Benefits..............................................................................   9

   Section 4.4.   In-Service Distributions.......................................................................  10

   Section 4.5.   Unscheduled Distributions......................................................................  10

   Section 4.6.   Valuation and Settlement.......................................................................  11

   Section 4.7.   Small Benefit..................................................................................  11

   Section 4.8.   Change in Control..............................................................................  11

   Section 4.9.   Combined Gross-up Payment; Tax Defense.........................................................  11

ARTICLE V         DESIGNATION OF BENEFICIARY.....................................................................  12

   Section 5.1.   Designation of Beneficiary.....................................................................  12

   Section 5.2.   Failure to Designate Beneficiary...............................................................  12
</TABLE>
<PAGE>

<TABLE>
<S>                                                                                                                <C>
ARTICLE VI        ADMINISTRATION.................................................................................  13

   Section 6.1.   Administrative Committee.......................................................................  13

   Section 6.2.   Rules of Conduct...............................................................................  13

   Section 6.3.   Legal, Accounting, Clerical and Other Services.................................................  13

   Section 6.4.   Interpretation of Provisions...................................................................  13

   Section 6.5.   Records of Administration......................................................................  13

   Section 6.6.   Denial of Claim................................................................................  13

   Section 6.7.   Liability of Committee.........................................................................  13

ARTICLE VII       AMENDMENT AND DISCONTINUANCE...................................................................  13

   Section 7.1.   Amendment of Plan..............................................................................  13

   Section 7.2.   Termination....................................................................................  14

   Section 7.3.   Effect of Amendment or Termination.............................................................  14

ARTICLE VIII      MISCELLANEOUS..................................................................................  14

   Section 8.1.   Unsecured General Creditor.....................................................................  14

   Section 8.2.   Grantor Trust..................................................................................  14

   Section 8.3.   Payments and Benefits Not Assignable...........................................................  14

   Section 8.4.   No Right To Service On The Board...............................................................  15

   Section 8.5.   Adjustments....................................................................................  15

   Section 8.6.   Obligation to Company..........................................................................  15

   Section 8.7.   Protective Provisions..........................................................................  15

   Section 8.8.   Gender, Singular and Plural....................................................................  15

   Section 8.9.   Law Governing..................................................................................  15

   Section 8.10.  Notice.........................................................................................  15

   Section 8.11.  Successors and Assigns.........................................................................  16

   Section 8.12.  Provisions for Incapacity......................................................................  16
</TABLE>
<PAGE>

                                    ARTICLE I

                               GENERAL PROVISIONS

Section 1.1. Purpose and Intent of Plan. This Plan is intended to provide an
opportunity for Directors who are not employees of the Company to accumulate
supplemental funds for retirement or special needs prior to retirement through
the deferral of portions of their Board and Committee Retainers and Meeting
Fees.

Section 1.2. Effective Date of Plan. This amended and restated Plan document
shall be effective as of January 1, 2002.

Section 1.3. Definitions.

     (a) Account means a separate bookkeeping account maintained by the Company
for each Participant and which measures and determines the amounts to be paid to
the Participant under the Plan. Effective October 1, 1996, separate subaccounts
within the Account for previous deferrals of Retainer and Meeting Fees, will be
consolidated into a single account balance.

     (b) Administrative Committee means the Directors Benefit Committee.

     (c) Beneficiary means a person who is entitled to receive a Participant's
interest under this Plan in the event of the Participant's death.

     (d) Board means the Board of Directors of Lyondell Chemical Company.

     (e) Board Committee means any committee established by the Board which
consists of Directors and which reports to the Board.

     (f) Change in Control shall be deemed to have occurred as of the date that
one or more of the following occurs:

          (i) Individuals who, as of February 1, 1999, constitute the entire
Board ("Incumbent Directors") cease for any reason to constitute at least a
majority of the Board; provided, however, that any individual becoming a
                       --------  -------
director subsequent to the date hereof whose election, or nomination for
election by the Company's shareholders, was approved by a vote of at least a
majority of the then Incumbent Directors shall be considered as though such
individual was an Incumbent Director, but excluding, for this purpose any such
individual whose initial assumption of office occurs as a result of either an
actual or threatened election contest, as such terms are used in Rule 14a-11
under the Securities Exchange Act of 1934, as amended or other actual or
threatened solicitation of proxies or consents by or on behalf of any Person (as
defined below) other than the Board;

          (ii) The stockholders of the Company shall approve any merger,
consolidation or recapitalization of the Company (or, if the capital stock of
the Company is affected, any

                                      -1-
<PAGE>

subsidiary of the Company), or any sale, lease, or other transfer (in one
transaction or a series of transactions contemplated or arranged by any party as
a single plan) of all or substantially all of the assets of the Company (each of
the foregoing being an "Acquisition Transaction") where (1) the shareholders of
the Company immediately prior to such Acquisition Transaction would not
immediately after such Acquisition Transaction beneficially own, directly or
indirectly, shares or other ownership interests representing in the aggregate
eighty percent (80%) or more of (a) the then outstanding common stock or other
equity interests of the corporation or other entity surviving or resulting from
such merger, consolidation or recapitalization or acquiring such assets of the
Company, as the case may be, or of its ultimate parent corporation or other
entity, if any (in either case, the "Surviving Entity"), and (b) the Combined
Voting Power of the then outstanding Voting Securities of the Surviving Entity
or (2) the Incumbent Directors at the time of the initial approval of such
Acquisition Transaction would not immediately after such Acquisition Transaction
constitute a majority of the Board of Directors, or similar managing group, of
the Surviving Entity; provided, however, that, notwithstanding the foregoing, a
                      --------  -------
Change of Control shall not be deemed to have occurred for purposes of this
Subsection (ii) if each of the following conditions are met: (a) the Acquisition
Transaction is between the Company and/or its Affiliates, on the one hand, and
Millennium Chemicals Inc. ("Millennium") and/or its Affiliates, on the other
hand, (b) the Company or an entity that was a wholly owned subsidiary of the
Company prior to the Acquisition Transaction has a class of equity securities
registered under Section 12 of the Securities Exchange Act of 1934, as amended,
immediately after completion of the Acquisition Transaction, (c) Millennium or
an entity that was a wholly owned subsidiary of Millennium prior to the
Acquisition Transaction has a class of equity securities registered under
Section 12 of the Securities Exchange Act of 1934, as amended, immediately after
completion of the Acquisition Transaction, and (d) as a result of the
Acquisition Transaction, the Company or its Affiliates own a greater percentage
equity interest in Equistar Chemicals, LP ("Equistar") than was owned, directly
or indirectly, by the Company immediately prior to such Acquisition Transaction;

          (iii) The stockholders of the Company shall approve any plan or
proposal for the liquidation or dissolution of the Company; or

          (iv) Any Person shall be or become the beneficial owner (as defined in
Rules 13d-3 and 13d-5 under the Securities Exchange Act of 1934, as amended),
directly or indirectly, of securities of the Company representing in the
aggregate more than twenty percent (20%) of either (A) the then outstanding
shares of common stock of the Company ("Common Shares") or (B) the Combined
Voting Power of all then outstanding Voting Securities of the Company; provided,
                                                                       --------
however, that notwithstanding the foregoing, a Change in Control shall not be
-------
deemed to have occurred for purposes of this Subsection (iv):

               (1) Solely as a result of an acquisition of securities by the
          Company which, by reducing the number of Common Shares or other Voting
          Securities outstanding, increases (a) the proportionate number of
          Common Shares beneficially owned by any Person to more than twenty
          percent (20%) of the Common Shares then outstanding, or (b) the
          proportionate voting power represented by the Voting Securities
          beneficially owned by any Person to more than twenty percent (20%) of
          the Combined Voting Power of all then outstanding Voting Securities;

                                      -2-
<PAGE>

               (2) Solely as a result of an acquisition of securities directly
          from the Company, except for any conversion of a security that was not
          acquired directly from the Company; or

               (3) Solely as a result of a direct or indirect acquisition by
          Occidental Petroleum Corporation ("Occidental") or Millennium, or any
          Affiliate of either of them, of beneficial ownership of securities
          representing, (x) in the case of Occidental (with its Affiliates), no
          more than forty percent (40%), (y) in the case of Millennium (with its
          Affiliates), no more than forty percent (40%), and (z) in the case of
          Occidental (with its Affiliates) and Millennium (with its Affiliates)
          in the aggregate, no more than forty-nine percent (49%), of either (A)
          the then outstanding Common Shares or (B) the Combined Voting Power of
          all then outstanding Voting Securities of the Company, pursuant to or
          as contemplated under any agreement between the Company and Occidental
          and/or Millennium or Affiliates of either of them (including any
          subsequent related transaction or series of related transactions or
          acquisitions of Voting Securities of the Company by Occidental and/or
          Millennium or their Affiliates or assignees approved by the Incumbent
          Directors prior to the consummation of such transaction or series of
          related transactions) where, as a result of such transaction or series
          of related transactions, the Company or a Surviving Entity owns,
          directly or indirectly, a greater percentage equity interest in
          Equistar than was owned, directly or indirectly, by the Company
          immediately prior to such transaction or series of related
          transactions;

          provided, further, that if any Person referred to in paragraph (1) or
          (2) of this Subsection (iv) shall thereafter become the beneficial
          owner of additional shares or other ownership interests representing
          one percent (1%) or more of the outstanding Common Shares or one
          percent (1%) or more of the Combined Voting Power of the Company
          (other than (x) pursuant to a stock split, stock dividend or similar
          transaction or (y) as a result of an event described in paragraph (1),
          (2) or (3) of this Subsection (iv)), then a Change in Control shall be
          deemed to have occurred for purposes of this Subsection (iv).

          (v) For purposes of this definition of Change in Control, the
following capitalized terms have the following meanings:

               (1) "Affiliate" shall mean, as to a specified person, another
          person that directly, or indirectly through one or more
          intermediaries, controls or is controlled by, or is under common
          control with, the specified person, within the meaning of such terms
          as used in Rule 405 under the Securities Act of 1933, as amended, or
          any successor rule.

               (2) "Combined Voting Power" shall mean the aggregate votes
          entitled to be cast generally in the election of the Board of
          Directors, or similar managing group, of a corporation or other entity
          by holders of then outstanding Voting Securities of such corporation
          or other entity.

               (3) "Person" shall mean any individual, entity (including,
          without limitation, any corporation, partnership, trust, joint
          venture, association or governmental body) or group (as defined in
          Sections 14(d)(3) or 15(d)(2) of the Exchange Act and the rules and
          regulations thereunder); provided, however, that Person shall not
                                   --------  -------
          include the Company,

                                      -3-
<PAGE>

          LYONDELL-CITGO Refining LP ("LCR") or Equistar, any of their
          subsidiaries, any employee benefit plan of the Company, LCR or
          Equistar or any of their majority-owned subsidiaries or any entity
          organized, appointed or established by the Company, LCR, Equistar or
          such subsidiaries for or pursuant to the terms of any such plan.

               (4) "Voting Securities" shall mean all securities of a
          corporation or other entity having the right under ordinary
          circumstances to vote in an election of the Board of Directors, or
          similar managing group, of such corporation or other entity.

     (g) Citibank Base Rate means for any Plan Year the average of the prime
rates at Citibank, N. A., in effect on the first day of the current calendar
quarter and each of the three prior quarters provided, however, that if for any
quarter the first day of the calendar quarter is not a business day, the prime
rate in effect on the first business day of such quarter shall be deemed the
prime rate for the first day of such quarter.

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

     (i) Company means Lyondell Chemical Company and any of its subsidiaries or
affiliates.

     (j) Deferral Election means an election made by a Director to defer
Retainer and/or Meeting Fees, for which the Director has submitted a
Participation Agreement.

     (k) Deferral Period means a maximum number of years established by the
Administrative Committee in advance of a particular Deferral Election, over
which the Director elects to defer Retainer or Meeting Fees. A new Deferral
Period shall normally start each January 1, except that with respect to a new
Director, the Deferral Period shall commence 30 days after the Director's
election to the Board.

     (l) Deferred Compensation means the amount of Retainer or Meeting Fees that
a Director elects to defer pursuant to a Deferral Election. If applicable,
Deferred Compensation also includes the present value as of December 31, 1998 of
the accrued retirement benefit earned under the Company's Retirement Plan for
Non-Employee Directors which a Director has elected to defer under this Plan
effective January 1, 1999.

     (m) Director means a Director of the Board who is not a current employee of
the Company.

     (n) Effective Date means January 1, 2002.

     (o) Financial Hardship means a condition of financial difficulty,
determined by the Administrative Committee, upon advice of counsel, based on
written information supplied by the Participant or Beneficiary, as the case may
be, in accordance with such standards established, from time to time, by the
Administrative Committee, which condition is sufficient to justify a change in
payment election under the Plan without causing receipt of taxable income by any
other Plan Participant before the Participant or Beneficiary, as the case may
be, actually receives his benefit.

                                      -4-
<PAGE>

     (p) In-Service Distribution means a distribution to a Participant prior to
Termination of Service pursuant to Section 4.4.

     (q) Interest Rate means (i) for any Plan Year commencing prior to a Change
in Control, the interest rate adopted by the Administrative Committee in advance
of the election period for a Plan Year, which shall constitute the interest rate
applicable to that Plan Year; or (ii) for each Plan Year commencing after a
Change in Control, the interest rate which is equal to the greater of (a) the
Prime Rate or (b) 125 percent of the rolling average Ten-Year Treasury Note
Rate, as of October 1 prior to the commencement of the applicable Plan Year.

     (r) Meeting Fee means the amount paid in cash to a Director as compensation
for each Board and/or Board Committee meeting attended by the Director.

     (s) Participant means any Director who is participating in this Plan as
provided in Article II, or any former Director who has not received the entire
benefit to which he or she is entitled under this Plan.

     (t) Participation Agreement means the Deferral Election submitted by a
Participant to the Company prior to the beginning of the Deferral Period.

     (u) Plan means this Elective Deferral Plan for Non-Employee Directors.

     (v) Plan Year means each calendar year beginning on January 1 and ending on
December 31.

     (w) Prime Rate means the prime commercial lending rate of Citibank, N.A. as
publicly announced to be in effect at the close of business on October 1 of the
year immediately prior to the commencement of the applicable Plan Year. The
Prime Rate is not necessarily the lowest rate of interest of Citibank, N.A.

     (x) Retainer Fee means the annual amount paid in cash to an Director as
compensation for serving in such capacity and any additional annual amount paid
in cash to an Director for serving in the capacity of a Board Committee
Chairman.

     (y) Retirement means the Director's termination of employment with a right
to an immediate retirement allowance from the Director's regular, full-time
employer.

     (z) Survivor Benefit means the benefits described in Section 4.3 of the
Plan.

     (aa) Ten-Year Treasury Note Rate means the rate periodically published by
the U.S. Department of Treasury under the heading "10 year Treasury Note Rate".

     (bb) Termination of Service means the Director ceasing to be a member of
the Board.

                                      -5-
<PAGE>

     (cc) Trust Agreement means the Trust Agreement between Lyondell Chemical
Company and Wilmington Trust Company, and any amendments or successor agreements
thereto.

     (dd) Unscheduled Distribution means a distribution to a Participant
pursuant to Section 4.5.

     (ee) Valuation Date means the last day of each month, or such other dates
as the Administrative Committee may determine in its discretion, which may be
either more or less frequent, for the valuation of Participants' Accounts.

                                   ARTICLE II

                      PARTICIPATION AND DEFERRAL ELECTIONS

Section 2.1. Participation. A Director may elect to participate, or continue
participation, in the Plan by submitting a Participation Agreement for a
Deferral Period to the Company no later than thirty (30) days prior to the
commencement of the Deferral Period.

Section 2.3. Deferral Elections. Prior to each Deferral Period, through
completion of a form provided by Company, each Director may make a Deferral
Election which shall be irrevocable except as authorized pursuant to Section
2.6.

Section 2.4. Limitation on Deferral. Deferral Elections shall be subject to any
limitation established by the Administrative Committee in advance of a Deferral
Period, including a minimum deferral amount reasonably anticipated to be in
excess of Eight Thousand Dollars ($8,000) per Deferral Period and a minimum
deferral amount reasonably anticipated to be in excess of at least Two Thousand
Dollars ($2,000) per Plan Year in the Deferral Period. The maximum Deferral
Election for any Plan Year within a Deferral Period is an amount equal to one
hundred (100%) of the Participant's Retainer and Meeting Fees payable in cash
for such Plan Year.

Section 2.5. Termination of Service. A Participant's Deferral Elections shall
terminate upon the Participant's Termination of Service.

Section 2.6. Modification of Deferral Elections. Deferral Elections shall be
irrevocable except as follows:

     (a) Financial Hardship. The Administrative Committee may permit a
Participant to reduce the amount elected under a prior Deferral Election, or to
waive the remaining deferrals under a prior Deferral Election, upon a finding
that the Participant has suffered a Financial Hardship.

                                      -6-
<PAGE>

     (b) Accelerated Deferral. At the Administrative Committee's discretion,
prior to the beginning of any Plan Year in any Deferral Period for which two or
more Plan Years remain, a Participant may elect to accelerate the amount of
Deferred Compensation previously elected for any of the remaining Plan Years in
that Deferral Period; provided, however, that any acceleration of Deferred
Compensation for remaining Plan Years in the Deferral Period shall not increase,
for any single Plan Year, the total Retainer or Meeting Fee deferrals above one
hundred percent (100%) of the Participant's Retainer and Meeting Fees payable in
cash during the Plan Year.

                                   ARTICLE III

                         DEFERRED COMPENSATION ELECTIONS

Section 3.1. Accounts. For record-keeping purposes only, Accounts shall be
maintained for each Participant.

Section 3.2. Deferred Compensation. A Participant's Deferred Compensation shall
be credited to his or her Account as of the date when the corresponding
non-deferred portion of the compensation is paid or would have been paid but for
the Deferral Election. Any Deferred Compensation attributable to the accrued
benefit earned by the Participant as of December 31, 2001 under the Company's
Retirement Plan for Non-Employee Directors shall be credited to the
Participant's Account effective January 1, 2002. The Company shall have the
right to withhold from any Retainer or Meeting Fees or Plan benefits (or
otherwise to cause the Director, his Beneficiary or the executor or
administrator of his estate to make payment of) any federal, state, local or
foreign taxes required to be withheld with respect to any Deferred Compensation
or benefits paid pursuant to the Plan.

Section 3.3. Interest Rate. Except as provided in Section 4.8, the Accounts
shall be credited as of each Valuation Date with interest based on the rates
specified below, compounded monthly. Interest shall be credited as of each
Valuation Date from the date when Deferred Compensation is credited to Accounts
based on the balance of each Account.

     (a) Interest Rate During Participant's Lifetime. During a Participant's
lifetime, the Participant's Account will be credited with interest at the
greater of the Interest Rate previously announced by the Company to be
applicable for the Plan Year or the current Citibank Base Rate. The Interest
Rate for the first Plan Year shall be 125% of the rolling average Ten-Year
Treasury Note Rate.

     (b) Interest Rate After Participant's Death. Following a Participant's
death, the Participant's Account will be credited with interest at an interest
rate equal to the Citibank Base Rate. With respect to payments made pursuant to
Section 4.3(a), no interest shall be credited on that portion of the benefit
representing a Participant's unfulfilled Deferral Commitment for each Deferral
Unit.

Section 3.4. Determination of Accounts. A Participant's Account as of each
Valuation Date shall consist of the balance of the Participant's Account as of
the immediately preceding

                                      -7-
<PAGE>

Valuation Date, plus the amount of the Participant's Deferred Compensation since
that Valuation Date, plus interest credited to the Account and minus any
distributions or reductions made from the Account since the immediately
preceding Valuation Date.

Section 3.5. Vesting of Accounts. Each Participant shall be one hundred percent
(100%) vested at all times in the amounts credited to his or her Account.

Section 3.6. Statement of Accounts. At least annually, the Company shall provide
each Participant with a statement setting forth the balance of his or her
Account.

                                   ARTICLE IV

                                  PLAN BENEFITS

Section 4.1. Plan Benefit. A Participant's benefit under the Plan shall equal
the amount of his or her Account as determined in accordance with Sections 3.4
and 4.6.

Section 4.2. Distribution upon Termination of Service. (a) Lump Sum. Benefits
payable on account of a Participant's Termination of Service, other than due to
the death of the Participant, shall be paid in a lump sum unless the Participant
has otherwise elected to have all or a portion of the benefits distributed in
accordance with Section 4.2(b) and/or Section 4.2(c) hereof.

     (b) Deferred Commencement of Benefits. A Participant may elect to have
payment of all or any portion of the Participant's Account commence on (i)
January of any year following the Participant's Termination of Service or (ii)
the later of the month following Retirement or completion of all the Participant
Deferrals under the Plan, provided that payment of benefits must commence no
later than January of the year in which the Participant will reach age
seventy-two (72).

     (c) Installment Payments. A Participant may elect to have payment of all or
any portion of the Participant's Account benefits made in substantially equal
monthly installment payments of five (5) years, ten (10) years or fifteen (15)
years. The amount of each of the monthly installments shall be redetermined
effective as of January 1 of each year based on the remaining Account balance
and the remaining number of installment payments.

     (d) Change of Election. A Participant, other than a former Director, may
change a distribution election once each year until the year in which the
Participant attains age 70. The change must be made during a period established
by the Administrative Committee which precedes a Deferral Period and is
irrevocable until the next period established by the Administrative Committee.
The Participant's distribution election shall become irrevocable as of the year
in which the Participant attains age 70, except that a Participant may request
in writing, that the Administrative Committee approve a change of an election
made pursuant to Subsection (b) or (c) at any time prior to commencement of the
payment of benefits, or in the case of installment payments, following
commencement of payments, if (i) the Administrative

                                      -8-
<PAGE>

Committee determines that the Participant has experienced a Financial Hardship
justifying the request for a change of election, or (ii) the Participant agrees
to accept a reduction in the value of the benefit, as determined by the
Administrative Committee, upon advice of counsel, to be necessary to preclude
the receipt of taxable income by any Participant in the Plan before the
Participant actually receives his or her benefit.

     If a Participant has a voluntary Termination of Service prior to the year
in which the Participant attains age 72, the Administrative Committee shall not
honor any change in distribution elections made within the two calendar years
immediately preceding the year in which the Termination of Service occurred. The
Participant's distribution election which had been made before that period shall
be considered the controlling distribution election, unless the Participant
requests and the Committee grants, a change of election for the reasons provided
in (i) or (ii) above.

     (e) Transition Election. A Participant, other than a former Director, may
submit a distribution election which supersedes all existing distributions
elections for all previous deferrals under this Plan during a period established
by the Administrative Committee prior to the 1997 deferral period,
notwithstanding the Participant's age or prior distribution elections.

     (f) Payment of Benefits Upon Death of Participant. Upon a Participant's
death, any of the Participant's vested and unpaid benefits shall be paid in
accordance with the applicable provisions of Section 4.3.

Section 4.3. Survivor Benefits. (a) Death Prior to Termination of Service. If
the Participant dies prior to Termination of Service, the Survivor Benefit shall
be equal to the sum of the Participant's Account as determined in accordance
with Section 3.4 and 4.6 plus an amount equal to the Participant's unfulfilled
Deferral Elections for unexpired Deferral Periods, if any. The Survivor Benefit
shall be paid in a lump sum unless the Participant has elected to have all or a
portion of the benefits distributed in accordance with Subsection (b) hereof.

     (b) Installment Payments. A Participant may elect to have payment of the
Survivor Benefit made to the Participant's Beneficiary in substantially equal
monthly payments of five (5) years, ten (10) years or fifteen (15) years if the
Participant's Termination of Service is due to the death of the Participant. The
amount of each of the monthly installments shall be redetermined effective as of
January 1 of each year based on the remaining Account balance and the amount, if
any, attributable to the Participant's unfulfilled Deferral Elections and the
remaining number of installment payments.

     (c) Death After Termination of Service. If the Participant dies after
Termination of Service and all benefits have not been paid in a lump sum under
Section 4.2(a), the Survivor Benefit shall be equal to the Participant's Account
as determined in accordance with Sections 3.4 and 4.6 and payable in the form
and at the time elected by the Participant.

     (d) Change of Election. A Beneficiary may request the Administrative
Committee to approve a change in the form of payment from installments to a lump
sum provided that (i) the Administrative Committee determines, upon application
of the Beneficiary, that the Beneficiary

                                      -9-
<PAGE>

has experienced a Financial Hardship justifying the request for a change of
election, or (ii) the Beneficiary agrees to accept a reduction in the value of
the benefit, as determined by the Administrative Committee, upon advice of
counsel, to be necessary to preclude the receipt of taxable income by any
Participant in the Plan in advance of the time the Participant actually receives
his or her benefit.

     (e) Death Following Change in Control. If a Participant is entitled to a
payment under Section 4.8 and dies prior to receiving his entire Account, the
balance of the Participant's Account shall be paid to Participant's Beneficiary
in a lump sum payment or on an installment basis, according to the Participant's
existing election of form of payment on Change in Control.

Section 4.4. In-Service Distributions. A Participant may elect to receive an
In-Service Distribution from his or her Account subject to the following
restrictions:

     (a) Timing of Election. The election to take an In-Service Distribution
from the Account for a particular Deferral Election must be made at the same
time the Participant makes the particular Deferral Election.

     (b) Amount of Distribution. The amount which a Participant can elect to
receive as an In-Service Distribution with respect to an Account shall be such
portions of the Participant's Account balance for the amounts deferred under a
particular Deferral Election, as prescribed by the Administrative Committee in
advance of the Deferral Period. If a previously elected amount exceeds the
Account balance when an In-Service Distribution is to be made, only the Account
balance will be paid.

     (c) Timing and Form of In-Service Distribution. The In-Service Distribution
shall commence at the time and in the form elected by the Participant in the
Participation Agreement entered into with respect to the Deferral Election;
provided, however, that if the Participant has a Termination of Service, the
In-Service Distribution election will be canceled and distribution will be made
pursuant to Section 4.2 and provided, further, that if the Participant commences
Retirement and has elected payment upon Retirement, the In-Service Distribution
election will be canceled and distribution will be made pursuant to Section 4.2.
In no event shall an In-Service Distribution be made prior to two (2) years
following the initial effective date of the particular Deferral Election.

     (d) Treatment of Distribution. Amounts paid to a Participant pursuant to
this Section 4.4 shall be treated as distributions from the Participant's
Account.

     (e) Transition Election. During a period to be established by the
Administrative Committee prior to the 1997 Deferral Period, a participant may
elect to maintain or revoke any existing In-Service Distribution Election. No
other changes are permitted in any existing In-Service Distribution Election. A
Participant who fails to make an election regarding existing In-Service
Distributions shall be considered to have elected to maintain those existing
In-Service Distribution Elections.

Section 4.5. Unscheduled Distributions. Upon a finding that a Participant has
suffered a Financial Hardship or upon the Participant agreeing to accept a
reduction of his or her benefit in

                                      -10-
<PAGE>

an amount determined necessary by the Administrative Committee, upon advice of
counsel, to avoid constructive receipt of taxable income by any Participant, the
Administrative Committee may, in its sole discretion, make distributions from an
Account prior to the time specified for payment of the Account. Any unscheduled
withdrawal will be paid in lump sum and will be subject to a minimum amount of
$10,000 and any additional conditions prescribed by the Administrative
Committee. Applications for unscheduled distributions and determinations thereon
by the Administrative Committee shall be in writing, and a Participant may be
required to furnish proof of the Financial Hardship in a formal manner as deemed
appropriate by the Administrative Committee, upon advice of counsel.

Section 4.6. Valuation and Settlement. The date on which a lump sum is paid or
the date on which installment payments commence shall be the "Settlement Date".
The Settlement Date shall be no more than thirty (30) days after the last day of
the month in which the Participant or his Beneficiary becomes entitled to
payments on account of Retirement, Termination of Service or death, unless the
Participant elected to defer commencement of payments pursuant to Section
4.2(b). The Settlement Date for an In-Service Distribution or delayed payments
shall be the month which the Participant elects to have such payments commence
in the election form for designation of form of payment. The amount of a lump
sum and the initial amount of installment payments shall be based on the value
of the Participant's Account as of the Valuation Date immediately preceding the
Settlement Date.

Section 4.7. Small Benefit. Notwithstanding any election made by the
Participant, the Company may pay any benefit in the form of a lump sum payment
to the Participant or any Beneficiary, if the value of the Plan benefits
remaining following a distribution for any reason, or the benefit payable to the
Participant or Beneficiary when payments to such Participant or Beneficiary
would otherwise commence, is less than $2,000.

Section 4.8. Change in Control. Notwithstanding any contrary provisions of this
Article IV, in the event that a Change in Control, as defined in the Trust
Agreement and incorporated herein by reference, occurs while this Plan is in
effect, the provisions of this Section 4.8 shall control. In the event of a
Change in Control, the full amount of contributions and earnings accrued or
credited to the Participant's Account, as of the date immediately preceding the
Change in Control, shall be distributed to the Participant or the Participant's
Beneficiary, if a Survivor Benefit is being paid to a Beneficiary at the time of
Change in Control. Payment shall be made on a lump sum or installment basis,
according to the Participant's election of the form of payment on Change in
Control.

Section 4.9. Combined Gross-up Payment; Tax Defense.

     (a) Combined Gross-up Payment. If a Participant becomes entitled to one or
more payments (with a "payment" including, without limitation, an increase in
pension benefits and the vesting of an option or other non-cash benefit or
property) pursuant to the terms of any plan, arrangement or agreement with the
Company (the "Total Payments"), which are or become subject to the tax imposed
by Section 4999 of the Internal Revenue Code of 1986, as amended (the "Code")
(or any similar tax that may hereafter be imposed) (the "Excise Tax"), the
Company shall

                                      -11-
<PAGE>

pay to the Participant an additional cash amount (the "Combined Gross-up
Payment") such that the net amount retained by the participant after reduction
for (i) any Excise Tax on the Total Payments and (ii) any federal, state and
local income or employment tax and Excise Tax payable with respect to the
Combined Gross-up Payment, shall equal the Total Payments. For purposes of
determining the amount of the Combined Gross-up Payment, a Participant shall be
deemed (i) to pay federal income taxes at the highest stated rate of federal
income taxation (including surtaxes, if any) for the calendar year in which the
Combined Gross up Payment is to be made; and (ii) to pay any applicable state
and local income taxes at the highest stated rate of taxation (including
surtaxes, if any) for the calendar year in which the Combined Gross-up Payment
is to be made. Any Combined Gross-up Payment required hereunder shall be made to
the Participant at the same time any Total Payment subject to the Excise Tax is
paid or deemed received by the Participant. The Combined Gross-up Payment shall
not be paid under this Plan if a Combined Gross-up Payment which is identical to
or greater than the amount calculated under this Section 4.9 is paid under any
other plan, arrangement or agreement with the Company.

     (b) Tax Defense. If, in connection with the examination of a Participant's
tax return, the Internal Revenue Service asserts that any amount payable or
benefit provided hereunder is a "parachute payment" as defined in the Code and
such amount or benefit was not treated as a parachute payment in determining a
Combined Gross-up Payment, Company at its cost shall assume the defense of any
controversy involving such issue and shall indemnify and hold the Participant
harmless for all liabilities, costs, taxes, interest and penalties attributable
to such issue and shall to the extent necessary (without duplication) increase
the Combined Gross-up Payment to give effect to any additional amount or benefit
determined to be a parachute payments. The Participant shall cooperate with
Company so that Company will be able to challenge any adverse determination by
the Internal Revenue Service through administrative proceedings and, if
determined by Company, through litigation.

                                    ARTICLE V

                           DESIGNATION OF BENEFICIARY

Section 5.1. Designation of Beneficiary. Each Participant shall have the right
to designate a Beneficiary or Beneficiaries to receive his interest in his
Account upon his death as determined in accordance with Section 4.3. Such
designation shall be made on a form provided by and delivered to the Company.
The Participant shall have the right to change or revoke any such designation
from time to time by filing a new designation or notice of revocation with the
Company. No notice to or consent by any Beneficiary shall be required to effect
any such change or revocation.

Section 5.2. Failure to Designate Beneficiary. If a Participant fails to
designate a Beneficiary before his or her death, or if no designated Beneficiary
survives the Participant, the balance in the Participant's Account shall be paid
in a lump sum to the executor or administrator for his or her estate.

                                      -12-
<PAGE>

                                   ARTICLE VI

                                 ADMINISTRATION

Section 6.1. Administrative Committee. The Administrative Committee shall be
responsible for the administration of the Elective Deferral Plan for
Non-Employee Directors.

Section 6.2. Rules of Conduct. The Administrative Committee shall adopt such
rules for the conduct of its business and administration of this Plan as it
considers desirable, provided they do not conflict with the provisions of this
Plan.

Section 6.3. Legal, Accounting, Clerical and Other Services. The Administrative
Committee may authorize one or more of its members or any agent to act on its
behalf and may contract for legal, accounting, clerical and other services to
carry out this Plan. All expenses of the Administrative Committee shall be paid
by the Company.

Section 6.4. Interpretation of Provisions. The Administrative Committee shall
have the exclusive right and discretionary authority to interpret the provisions
of this Plan and to decide questions arising in its administration. The
decisions and interpretations of the Administrative Committee shall be final and
binding on the Company, Participants, Directors, Beneficiaries and all other
persons.

Section 6.5. Records of Administration. Records reflecting the administration of
this Plan shall be kept.

Section 6.6. Denial of Claim. The Administrative Committee shall provide
adequate notice in writing to any Participant, Director or Beneficiary whose
claim for benefits under this Plan has been denied, setting forth the specific
reasons for such denial. The Participant, Director or Beneficiary will be given
an opportunity review by the Administrative Committee of the decision denying
the claim. The Participant, Director or Beneficiary shall be given sixty (60)
days from the date of the notice denying any such claim within which to request
such review.

Section 6.7. Liability of Committee. No member of the Administrative Committee
shall be liable for any action taken in good faith or for exercise of any power
given the Administrative Committee, or for the actions of other members of said
Administrative Committee.

                                   ARTICLE VII

                          AMENDMENT AND DISCONTINUANCE

Section 7.1. Amendment of Plan. This Plan may be amended from time to time by
the Board of Directors of the Company.

                                      -13-
<PAGE>

Section 7.2. Termination. The Company intends to continue this Plan
indefinitely, but reserves the right to terminate it at any time. In the event
of a Change in Control, this Plan shall be terminated following distribution of
assets to Participants or to the Independent Plan Administrator under the
Non-Employee Directors Benefit Plans Trust Agreement.

Section 7.3. Effect of Amendment or Termination. No amendment or termination of
this Plan may adversely affect the benefit payable to any former Participant or
Beneficiary receiving benefits under this Plan prior to the effective date of
the amendment or termination, or any Participant or Beneficiary of a deceased
Participant who, as of such effective date, was vested in or eligible to receive
a benefit under this Plan, except as follows. Payment of a Participant's Account
to the Participant or a Beneficiary in a previously elected form of distribution
payable on Change in Control shall not be considered an amendment which
adversely affects benefits under this Plan.

     No amendment or termination of this Plan due to a Change in Control shall
adversely affect the amount of contributions and earnings accrued or credited to
any former or current Participant's Account under this Plan immediately prior to
the Change in Control.

                                  ARTICLE VIII

                                  MISCELLANEOUS

Section 8.1. Unsecured General Creditor. Participants and their Beneficiaries
shall have no legal or equitable rights, claims or interests in any specific
assets or property of the Company, nor shall they be the beneficiaries of, or
have any rights, claims or interests in any life insurance policies, annuity
contracts, or the proceeds therefrom owned, or which may be acquired by, the
Company ("Policies"). Any such Policies or other assets of the Company shall be,
and remain, the general, unpledged, unrestricted assets of the Company. The
Company's obligation under the Plan shall be merely that of an unfunded and
unsecured promise of the Company to pay money in the future.

Section 8.2. Grantor Trust. Although the Company is responsible for the payment
of all benefits under the Plan, the Company may, in its sole discretion,
contribute funds to a grantor trust for the purpose, as it deems appropriate, of
paying benefits under this Plan. Such trust may be irrevocable, but assets of
the trust shall be subject to the claims of creditors of the Company. To the
extent any benefits provided under the Plan are actually paid from the trust,
the Company shall have no further obligation with respect thereto but to the
extent not so paid, such benefits shall remain the obligation of, and shall be
paid, by the Company. The Participants or Beneficiaries of deceased Participants
shall have the status of unsecured creditors insofar as their legal claim for
benefits under the Plan and shall have no security interest in the grantor
trust.

Section 8.3. Payments and Benefits Not Assignable. Payments to and benefits
under this Plan are not assignable, transferable or subject to alienation since
they are primarily for the support and maintenance of the Participants and
Beneficiaries. Likewise, such payments shall not be

                                      -14-
<PAGE>

subject to attachment by creditors of, or through legal process against, the
Company, the Administrative Committee or the Participants.

Section 8.4. No Right To Service On The Board. The provisions of this Plan shall
not give a Director the right to be retained in the service of the Company nor
shall this Plan or any action taken under the Plan be construed as a contract
for service on the Board.

Section 8.5. Adjustments. At the Company's request, the Administrative Committee
may, with respect to a Participant, adjust such Participant's benefit under this
Plan or make such other adjustments with respect to such Participant as are
required to correct administrative errors or provide uniform treatment of
Participants in a manner consistent with the intent and purpose of this Plan.

Section 8.6. Obligation to Company. If a Participant becomes entitled to a
distribution of benefits under the Plan, and if at such time the Participant has
outstanding any debt, obligation, or other liability representing an amount
owing to the Company, or any benefit plan maintained by the Company, then the
Company may offset such amount owed to it or such benefit plan against the
amount of benefits otherwise distributable. Such determination shall be made by
the Administrative Committee.

Section 8.7. Protective Provisions. Each Participant shall cooperate with the
Company by furnishing any and all information requested by the Company in order
to facilitate the payment of benefits hereunder, taking such physical
examinations as the Company may deem necessary and taking such other relevant
action as may be requested by the Company. If a Participant refuses to
cooperate, the Company shall have no further obligation to the Participant under
the Plan. If the Participant makes any material misstatement of information or
nondisclosure of medical history, then no benefits will be payable hereunder to
such Participant or his Beneficiary, provided, that in the Company's sole
discretion, benefits may be payable in an amount reduced to compensate the
Company for any loss, cost, damage or expense suffered or incurred by the
Company as a result in any way of any such action, misstatement or
nondisclosure.

Section 8.8. Gender, Singular and Plural. All pronouns and any variations
thereof shall be deemed to refer to the masculine, feminine, or neuter, as the
identity of the person or persons may require. As the context may require, the
singular may be read as the plural and the plural as the singular.

Section 8.9. Law Governing. This Plan shall be construed, regulated and
administered under the laws of the State of Texas, except to the extent that
such laws are preempted by ERISA.

Section 8.10. Notice. Any notice or filing required or permitted to be given to
the Administrative Committee or the Company under the Plan shall be sufficient
if in writing and hand delivered, or sent by registered or certified mail, to
the principal office of the Company, directed to the attention of the Secretary
of the Company. Such notice shall be deemed given as to the date of delivery or,
if delivery is made by mail, as of the date shown on the postmark on the receipt
for registration or certification.

                                      -15-
<PAGE>

Section 8.11. Successors and Assigns. This Plan shall be binding upon the
Company and its successors and assigns.

Section 8.12. Provisions for Incapacity. If the Administrative Committee deems
any person entitled to receive any payment under the provisions of this Plan
incapable of receiving or disbursing the same by reason of minority, illness or
infirmity, mental incompetency, or incapacity of any kind, the Administrative
Committee may, in its sole discretion, take any one or more of the following
actions: it may apply such payment directly for the comfort, support and
maintenance of such person; it may reimburse any person for any such support
theretofore supplied to the person entitled to receive any such payment; or it
may pay such payment to any other person selected by the Administrative
Committee to disburse such payment for the comfort, support and maintenance of
the person entitled thereto, including, without limitations, to any relative who
has undertaken, wholly or partially, the expense of such person's comfort, care
and maintenance, or any institution in whose care or custody the person entitled
to the payment may be. The Administrative Committee may, in its sole discretion,
deposit any payment due to a minor to the minor's credit in any savings or
commercial bank of the Administrative Committee's choice.

                                      -16-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00034-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00034-of-00352.parquet"}]]