Document:

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                                                                 Exhibit (10)(d)

                            THE LUBRIZOL CORPORATION
                           EXCESS DEFINED BENEFIT PLAN
                              (As Amended 11/12/01)

     The Lubrizol Corporation hereby establishes, effective as of January 1,
1986, The Lubrizol Corporation Excess Defined Benefit Plan (the "Plan") for the
purpose of providing supplemental benefits to certain employees, as permitted by
Section 3(36) of the Employee Retirement Income Security Act of l974.

                                    ARTICLE I

                          DEFINITIONS AND CONSTRUCTION

     1.1 DEFINITIONS. For the purposes hereof, the following words and phrases
shall have the meanings indicated, unless a different meaning is plainly
required by the context:

          (a) CODE. the term "Code" shall mean the Internal Revenue Code as
     amended from time to time. Reference to a section of the Code shall include
     such section and any comparable section or sections of any future
     legislation that amends, supplements, or supersedes such section.

          (b) COMPANY. The term "Company" shall mean The Lubrizol Corporation,
     an Ohio corporation, its corporate successors and the surviving corporation
     resulting from any merger of The Lubrizol Corporation with any other
     corporation or corporations, and any subsidiaries of The Lubrizol
     Corporation which adopt the Plan.

          (c) LUBRIZOL PENSION PLAN. The term "Lubrizol Pension Plan" shall mean
     The Lubrizol Corporation Revised Pension Plan as the same shall be in
     effect on the date of a Participant's retirement, death, or other
     termination of employment.

          (d) PARTICIPANT. Effective June 22, 1992, the term "Participant" shall
     mean any person employed by the Company who is listed on Appendix A
     attached hereto, or who is designated by the Board of Directors as an
     officer for the purposes of Section 16 of the Securities Exchange Act of
     1934, or whose benefits under the Lubrizol Pension Plan are limited by the
     application of Section 401(a)(17) of the Internal Revenue Code of 1986, as
     amended.

          (e) PLAN. The term "Plan" shall mean the excess defined benefit
     pension plan as set forth herein, together with all amendments hereto,
     which Plan shall be called "The Lubrizol Corporation Excess Defined Benefit
     Plan."

          (f) TRUST. The term "Trust" shall mean The Lubrizol Corporation Excess
     Defined Benefit Plan Trust established pursuant to the Trust Agreement.

          (g) TRUST AGREEMENT. The term "Trust Agreement" shall mean The
     Lubrizol Corporation Excess Defined Benefit Plan Trust Agreement.

     1.2. ADDITIONAL DEFINITIONS. All other words and phrases used herein shall
have the meanings given them in the Lubrizol Pension Plan, unless a different
meaning is clearly required by the context.

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                                   ARTICLE II

                          SUPPLEMENTAL PENSION BENEFIT

     2.1 ELIGIBILITY. Effective January 1, 1997, A Participant who retires,
dies, or otherwise terminates his employment with the Company and its
subsidiaries and

          (a) whose benefits under the Lubrizol Pension Plan are limited by the
     provisions of Section 401(a)(17) or 415 of the Code,

          (b) who either was a Participant on January 1, 1989 or had attained
     age 55 on January 1, 1989, and thereafter became a Participant, and whose
     benefits under the Lubrizol Pension Plan are curtailed due to the revision
     of the pension benefit formula, effective as of January 1, 1989, to comply
     with the requirements of the Tax Reform Act of 1986, as amended,

          (c) who participated in The Lubrizol Corporation Deferred Compensation
     Plan for Officers (which was adopted effective July 25, 1994), or

          (d) who participated in The Lubrizol Corporation Executive Council
     Deferred Compensation Plan (which was adopted effective January 1, 1997)

shall be eligible for a supplemental pension benefit determined in accordance
with the provisions of Section 2.2.

     2.2 AMOUNT. Effective January 1, 1997, subject to the provisions of Article
III, the monthly supplemental pension benefit payable to an eligible Participant
shall be an amount which when added to the monthly pension payable to such
Participant under the Lubrizol Pension Plan (prior to any reduction applicable
to an optional method of payment) equals the monthly pension benefit which would
have been payable under the Lubrizol Pension Plan (prior to any reduction
applicable to an optional method of payment and adjusted for any amount payable
under The Lubrizol Corporation Excess Defined Contribution Plan which is
attributable to The Lubrizol Corporation Employees' Profit-Sharing Plan and
which would have affected the benefit that the Participant would have received
under the Lubrizol Pension Plan had it been payable from The Lubrizol
Corporation Employees' Profit-Sharing Plan) if the limitations of Section
401(a)(17) and 415 of the Code were not in effect and, (if he is a Participant
described in Section 2.1(ii)), his benefits had not been curtailed due to the
revision of the Lubrizol Pension Plan effective as of January 1989, to comply
with the provisions of the Tax Reform Act of 1986, as amended, and, (if he is a
Participant described in Section 2.1(iii)), if he did not participate in The
Lubrizol Corporation Deferred Compensation Plan for Officers (which was adopted
effective July 25, 1994) or in The Lubrizol Corporation Executive Council
Deferred Compensation Plan (which was adopted effective January 1, 1997).

     2.3 PAYMENT. The terms of payment of the supplemental pension benefit shall
be identical to those specified in the Lubrizol Pension Plan for the type of
benefit the Participant receives under the Lubrizol Pension Plan.

     2.4 VESTING. Each Participant as of December 31, 1993, shall be 100 percent
vested in his supplemental pension benefit determined in accordance with the
provisions of Section 2.2. Each new Participant after December 31, 1993, shall
be vested in his supplemental pension

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benefit under this Plan as determined in accordance with the vesting provisions
of the Lubrizol Pension Plan.

                                   ARTICLE III

                               PAYMENT OF BENEFITS

     3.1 PAYMENT TO PARTICIPANT. (Effective November 27, 1995)

          (a) Each Participant who terminates employment with the Company and
     its related corporations shall receive payment of his supplemental pension
     benefit under the Plan determined as of his date of termination of
     employment in the standard form of benefit of a monthly retirement benefit
     commencing within 30 days following employment termination and payable to
     such Participant for his lifetime following such employment termination,
     with the continuance to his Beneficiary of such amount after his death for
     the remainder, if any, of the 120-month term that commenced with the date
     as of which the first payment of such monthly benefit is made, and with any
     such monthly benefits remaining unpaid upon the death of the survivor of
     the Participant and his Beneficiary to be made to the estate of such
     survivor.

          (b) Participants may instead elect within a 60 day period commencing
     90 days prior to employment termination to receive the actuarial equivalent
     of the standard form of benefit determined under paragraph (a), on the date
     of employment termination, in accordance with any one of the following
     options:

               (i) for Participants hired prior to February 1, 1984, a single
          lump-sum payment payable within 30 days following employment
          termination;

               (ii) effective October 1, 2000, for Participants hired prior to
          February 1, 1984, a single lump-sum payment payable within 30 days
          following the end of the calendar year in which the Participant's
          employment terminated. Interest on the lump-sum deferral shall accrue
          and be paid with the lump-sum; such interest to be computed at the
          applicable interest rate, as defined in Section 417(e)(3)(A)(ii)(II)
          of the Code, in effect on the date of the employment termination.

               (iii) a reduced monthly retirement benefit commencing within 30
          days following employment termination and payable to such Participant
          for his lifetime following such employment termination, with the
          continuance of a monthly benefit equal to fifty percent (50%) of such
          reduced amount after his death to the Participant's Beneficiary during
          the lifetime of the Beneficiary, provided that such Beneficiary is
          living at the time of such Participant's employment termination and
          survives such Participant;

               (iv) a reduced monthly retirement benefit commencing within 30
          days following employment termination and payable to such Participant
          during his lifetime following his termination, with the continuance of
          a monthly benefit equal to one hundred percent (100%) of such reduced
          amount after his death to the Participant's Beneficiary during the
          lifetime of the Beneficiary, provided such Beneficiary is living at
          the time of such Participant's termination and survives such
          Participant.

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     Such optional forms of payment described above shall be calculated using
the same actuarial factors and interest rates used under The Lubrizol
Corporation Pension Plan (or its successor) as in effect on the date of
employment termination; provided, however, that for any person who was a
Participant as of December 31, 1993, who elects to have his supplemental pension
benefit paid in a single lump-sum payment, the interest rate used to discount
the portion of the Participant's supplemental pension benefit which represents
his accrued benefit as of December 31, 1993, shall be the arithmetic average of
the 7-day compound yield rates for the six full calendar months prior to the
month of termination as published in Donoghue's Tax-Free MONEY FUND AVERAGE
which is reported weekly in BARRON'S; provided further that such rate with
respect to any month shall be the rate reported in the first issue of BARRON'S
published during such month.

     Notwithstanding the foregoing provisions of the Plan to the contrary, if
the present actuarial value of any retirement benefit or survivor benefit under
the Plan to any person, determined as described above, is less than $25,000,
such benefit shall be paid in a single lump-sum payment to such person within 30
days following employment termination.

     3.2 PAYMENT IN THE EVENT OF DEATH PRIOR TO COMMENCEMENT OF DISTRIBUTION. If
a Participant dies prior to commencement of benefits under the Plan, his
surviving spouse, if any, shall be eligible for a survivor benefit which is
equal to one-half of the reduced monthly benefit the Participant would have
received under the Plan if the Participant had retired on the day before his
death and had elected to receive his benefit under the Lubrizol Pension Plan in
a 50 percent joint and survivor annuity form. In making the determinations and
reductions required in this Section 3.2, the Company shall apply the assumptions
then in use under the Lubrizol Pension Plan. For purposes hereof, a surviving
spouse shall only be eligible for a benefit under this Section 3.2, if such
spouse had been married to the deceased Participant for at least one year as of
the date of the Participant's death.

     3.3 SPECIAL FORM OF BENEFIT FOR E. VICTOR LUOMA. Notwithstanding the first
sentence of Section 3.1, E. Victor Luoma may elect prior to his retirement or
other termination of employment to receive payment of his supplemental pension
benefit under the Plan in the form of a single sum amount, determined and
payable in accordance with the second and third sentences of Section 3.1.

     3.4 LUMP SUM FORM OF BENEFIT FOR ROGER Y. K. HSU. Effective January 1,
1996, notwithstanding the provisions of Section 3.1(b), Roger Y. K. Hsu shall
receive payment of his supplemental pension benefit under the Plan in the form
of a single sum amount.

                                   ARTICLE IV

                                 ADMINISTRATION

     The Company shall be responsible for the general administration of the
Plan, for carrying out the provisions hereof, and for making, or causing the
Trust to make, any required supplemental benefit payments. The Company shall
have all such powers as may be necessary to carry out the provisions of the
Plan, including the power to determine all questions relating to eligibility for
and the amount of any supplemental pension benefit and all questions pertaining
to claims for benefits and procedures for claim review; to resolve all other
questions arising under the Plan, including any questions of construction; and
to take such further action as the

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Company shall deem advisable in the administration of the Plan. The Company may
delegate any of its powers, authorities, or responsibilities for the operation
and administration of the Plan to any person or committee so designated in
writing by it and may employ such attorneys, agents, and accountants as it may
deem necessary or advisable to assist it in carrying out its duties hereunder.
The actions taken and the decisions made by the Company hereunder shall be final
and binding upon all interested parties.

                                    ARTICLE V

                            AMENDMENT AND TERMINATION

     The Company reserves the right to amend or terminate the Plan in whole or
in part at any time and to suspend operation of the Plan, in whole or in part,
at any time, by resolution or written action of its Board of Directors or by
action of a committee to which such authority has been delegated by the Board of
Directors; provided, however, that no amendment shall result in the forfeiture
or reduction of the interest of any Participant or person claiming under or
through any one or more of them pursuant to the Plan. Any amendment of the Plan
shall be in writing and signed by authorized individuals.

                                   ARTICLE VI

                                  MISCELLANEOUS

     6.1 NON-ALIENATION OF RETIREMENT RIGHTS OR BENEFITS. No Participant shall
encumber or dispose of his right to receive any payments hereunder, which
payments or the right thereto are expressly declared to be non-assignable and
non-transferable. If a Participant attempts to assign, transfer, alienate or
encumber his right to receive any payment hereunder or permits the same to be
subject to alienation, garnishment, attachment. execution, or levy of any kind,
then thereafter during the life of such Participant, and also during any period
in which any Participant is incapable in the judgment of the Company of
attending to his financial affairs, any payments which the Company is required
to make hereunder may be made, in the discretion of the Company, directly to
such Participant or to any other person for his use or benefit or that of his
dependents, if any, including any person furnishing goods or services to or for
his use or benefit or the use or benefit of his dependents, if any. Each such
payment may be made without the intervention of a guardian, the receipt of the
payee shall constitute a complete acquittance to the Company with respect
thereto, and the Company shall have no responsibility for the proper allocation
thereof.

     6.2 PLAN NON-CONTRACTUAL. Nothing herein contained shall be construed as a
commitment or agreement on the part of any person employed by the Company to
continue his employment with the Company, and nothing herein contained shall be
construed as a commitment on the part of the Company to continue the employment
or the annual rate of compensation of any such person for any period, and all
Participants shall remain subject to discharge to the same extent as if the Plan
had never been established.

     6.3 TRUST. In order to provide a source of payment for its obligations
under the Plan, the Company has established the Trust, the terms of which are
governed by the Trust Agreement.

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     6.4 INTEREST OF A PARTICIPANT. Subject to the provisions of the Trust
Agreement, the obligation of the Company under the Plan to provide a Participant
with a supplemental pension benefit constitutes the unsecured promise of the
Company to make payments as provided herein, and no person shall have any
interest in, or a lien or prior claim upon, any property of the Company.

     6.5 CONTROLLING STATUS. No Participant shall be eligible for a benefit
under the Plan unless such Participant is a Participant on the date of his
retirement, death, or other termination of employment.

     6.6 CLAIMS OF OTHER PERSONS. The provisions of the Plan shall in no event
be construed as giving any person, firm or corporation any legal or equitable
right as against the Company, its officers, employees, or directors, except any
such rights as are specifically provided for in the plan or are hereafter
created in accordance with the terms and provisions of the Plan.

     6.7 SEVERABILITY. The invalidity or unenforceability of any particular
provision of the Plan shall not affect any other provision hereof, and the Plan
shall be construed in all respects as if such invalid or unenforceable provision
were omitted herefrom.

     6.8 GOVERNING LAW. The provisions of the Plan shall be governed and
construed in accordance with the laws of the State of Ohio.

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                                   APPENDIX A
                                       TO
                            THE LUBRIZOL CORPORATION
                           EXCESS DEFINED BENEFIT PLAN

Participants(1)                                       Effective Date
---------------                                       --------------

1. W. G. Bares                                        December 31, 1986
2. G. R. Hill                                         December 31, 1986
3. J. R. Ahern                                        April 1, 1990
4. K. H. Hopping                                      April 21, 1991
5. J. W. Bauer                                        April 27, 1992
6. S. F. Kirk                                         April 26, 1993
7. Y. Le Couedic                                      April 26, 1993
8. J. E. Hodge                                        April 26, 1993
9. M. W. Meister                                      April 26, 1993
10. S. A. Di Biase                                    April 26, 1993
11. G. P. Lieb                                        April 25, 1994
12. L. M. Reynolds                                    April 24, 1995
13. R. D. Robins                                      April 22, 1996
14. C. P. Cooley                                      April 1, 1998
15. D. W. Bogus                                       April 1, 2000
16. J. L. Hambrick                                    May 1, 2000
17. G. R. Lewis                                       April 23, 2001
18. R. S. Potter                                      September 4, 2001

Former Participants(2)
----------------------
1. P. L. Krug (R)
2. W. T. Beargie (R)
3. W. D. Manning (R)
4. R. W. Scher (R)
5. J. P. Arzul (D)
6. J. R. Cooper (R)
7. J. I. Rue (R)
8. R. J. Senz (T)
9. E. V. Luoma (R)
10. R. Y. K. Hsu (R)
11. L. E. Coleman (R)
12. J. G. Bulger (R)
13. D. A. Muskat (R)
14. W. R. Jones (R)
15. R. A. Andreas (R)
16. J. A. Thomas (R)

--------

(1) This listing of Participants is limited to those Participants who are also
officers for purposes of Section 16 of the Securities Exchange Act of 1934.
(2) R = Retired, D = Deceased, T = Terminated.<PAGE>

                                                                 Exhibit (10)(k)

                            THE LUBRIZOL CORPORATION
                     DEFERRED COMPENSATION PLAN FOR OFFICERS
                        (Amended as of November 12, 2001)

1. PURPOSE. The purpose of this Deferred Compensation Plan For Officers (the
"Plan") is to permit an officer (as identified by the Company for Section 16
purposes under the Securities Exchange Act of 1934) (sometimes hereinafter
referred to as "officer" or as the "Participant") of The Lubrizol Corporation
(the "Company"), who wishes, to defer a portion of such officer's compensation
as provided in the Plan.

2. ADMINISTRATION. The Plan shall be administered by the Organization and
Compensation Committee of the Board of Directors of the Company (the
"Committee"). The Committee's interpretation and construction of all provisions
of the Plan shall be binding and conclusive upon all Participants and their
heirs and/or successors.

3. RIGHT TO DEFER COMPENSATION.

     (a) An officer of the Company may, at any time prior to January 1 of a
given calendar year, elect, for one or more future successive calendar years, to
defer under the Plan a pre-selected amount of such officer's cash compensation,
including bonus, which such officer may thereafter be entitled to receive for
services performed during such elected calendar year or years.

     (b) The election under this Section 3 shall take effect on the first day of
the calendar year following the date on which the election is made and such
election shall be irrevocable for any elected calendar year after such elected
calendar year shall have commenced.

     (c) The pre-selected amount that an officer may elect to defer shall be one
or more of the following:

     (i)   a fixed dollar amount or percentage of the officer's bi-weekly base
           salary;

     (ii)  a fixed dollar amount or percentage of the officer's quarterly pay;

     (iii) a fixed dollar amount or percentage of the officer's participation in
           the performance pay plan , if any.

     (iv)  a fixed number of shares or percentage of the officer's stock
           compensation in the performance share program.

                                       1

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

     (e) Within such periods of time as the Committee shall designate, and in
addition to the provisions of paragraphs (a) through (d), an officer may elect
to defer that portion or all of the officer's cash and/or stock compensation (i)
described in paragraph (c) and/or (ii) any other plan or program that provides
for cash or stock compensation, to the extent that such amounts would otherwise
be nondeductible by the Company pursuant to Section 162(m) of the Internal
Revenue Code of 1986, as amended. For purposes of the preceding sentence, the
amount to be deferred with respect to any compensation plans payable in Company
shares shall be determined by taking into consideration any fixed cash
compensation (including biweekly and quarterly pay) to be received subsequent to
the date on which shares are distributable under such program. Notwithstanding
any other provision of this Plan, deferrals under this paragraph (e) shall be
distributable only upon termination of employment in accordance with Section 6.

     (f) All elections under this Plan shall be made by written notice delivered
to the Vice President, Human Resources, of the Company specifying (i) the number
of calendar years, one or more, during which the election shall apply, (ii) the
portion, if any, determined under paragraph (c), of each category of the
Participant's compensation to be deferred for such year or years, as described
above, (iii) the time of distribution, and (iv) if, applicable, the payment
option as provided in Section 6 for distributions upon termination of
employment.

     (g) A Participant may designate that the deferral election under this
Section 3 shall remain in effect until the Participant, on a prospective basis,
withdraws the election or changes the amount to be deferred. Any notice of the
withdrawal of the deferral election or change of amount to be deferred shall be
effective on the first day of the calendar year following the date on which such
notice is given to the Company's Vice President, Human Resources; provided that,
such notice shall not change, alter or terminate the deferral of the officer's
participation in the performance pay plan for the year in which such notice of
withdrawal is given which, except for the deferral, would be payable in the
calendar year following the date on which such notice of withdrawal is given.

     (h) Notwithstanding paragraph (f) and the first sentence of paragraph (g),
any compensation earned after the end of the first month in which a Participant
under this Plan no longer is an officer of the Company, as defined in Section 1,
but continues to be employed by the Company, shall not be deferred, provided
however, the balance in the Participant's Deferral Accounts shall continue to be
held and administered pursuant to the Plan.

                                       2

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4. DEFERRAL OF CASH COMPENSATION.

     (a) On the date the cash compensation deferred under the Plan would have
become payable to the Participant in the absence of an election under the Plan
to defer payment thereof, the amount of such deferred compensation shall be
credited to a Stock Deferral Account and/or any of the Cash Deferral Account
investment portfolios designated as available by the Committee from time to
time. All Deferral Accounts shall be established and maintained for each
Participant in the Company's accounting books and records and the Company shall
be under no obligation to purchase any investments designated by the
Participant. To the extent that, at the time amounts are credited to a
Participant's Deferral Accounts, any federal, state or local payroll withholding
tax applies (e.g., Medicare withholding tax), the Participant shall be
responsible for the payment of such amount to the Company and the Company shall
promptly remit such amount to the proper taxing authority.

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

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

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

     (e) Notwithstanding the foregoing, a Participant may elect to have any
portion or all of the Participant's cash deferrals credited to any of the
Deferral Accounts listed in paragraph (a) and may transfer balances in
accordance with paragraph (d) provided that the Participant is considered, in
the judgement of the Chief Executive Officer of the Company, to be on plan to
meet the Participant's Company Share ownership guideline. Otherwise, a
Participant must elect that at least 50% of any cash deferral hereunder be
credited to a Stock Deferral Account and may not transfer any portion of the
balance of the Stock Deferral Account to another Deferral Account.

                                       3

<PAGE>

5. DEFERRAL OF STOCK COMPENSATION.

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

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

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

                                   DIVIDED BY

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

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

     (d) To the extent that, at the time Units are credited to a Stock Deferral
Account of a Participant, any federal, state or local payroll withholding tax
applies (e.g., Medicare withholding tax), the Participant shall be responsible
for the payment of such amount to the Company and the Company shall promptly
remit such amount to the proper taxing authority.

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

6. PAYMENT OF DEFERRED COMPENSATION UPON TERMINATION.

                                       4

<PAGE>

     (a) The total amount standing as a credit in a Participant's Cash Deferral
Accounts shall, upon termination of employment, be payable to the Participant
either in a lump sum or in periodic installments over such period, not exceeding
ten years, as the Participant shall have selected pursuant to Section 3(f)(iv).
Such periodic payments shall begin or the lump sum payment shall be made, as the
case may be, from the Participant's Cash Deferral Accounts, at such time, not
more than twelve (12) months after the Participant ceases to be an employee of
the Company, as the Participant shall have selected pursuant to Section 3
(f)(iv). All amounts payable in accordance with this Section 6(a) shall be
subject to applicable federal, state and/or local payroll withholding taxes then
in effect. Notwithstanding the foregoing, a Participant may elect no later than
thirty (30) days prior to the Participant's termination of employment, nor
earlier than ninety (90) days prior thereto, to change the form of distribution
of the Participant's Cash Deferral Accounts.

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

     (c) The total number of Units credited to the Participant's Stock Deferral
Accounts shall upon termination of employment be payable to the Participant
either in a lump sum or in periodic installments, over such period, not
exceeding ten years, as the Participant shall have selected pursuant to Section
3(f)(iv). Such periodic payments shall begin or the lump sum payment shall be
made, as the case may be, at such time, not more than twelve (12) months after
the Participant ceased to be an employee of the Company, as the Participant
shall have selected pursuant to Section 3(f)(iv). All amounts payable in
accordance with this Section 6(c) shall be subject to applicable federal, state
and/or local payroll withholding taxes then in effect. Notwithstanding the
foregoing, a Participant may elect no later than thirty (30) days prior to the
Participant's termination of employment, no earlier than ninety (90) days prior
thereto, to change the form of distribution of the Participant's Stock Deferral
Accounts.

     (d) The amount of any installment payable from the Stock Deferral Accounts
to a Participant shall be determined by dividing the balance of the aggregate
number of Units in the Participant's Stock Deferral Accounts by the number of
periodic installments (including the current installment) remaining to be paid
and the quotient shall be the number of Shares that are payable. If the
determination of the installment payable from the Participant's Stock Deferral
Accounts results in a fractional Share being payable, the installment payment
shall exclude any such fractional Share payment except that, in the final
installment payment, any such fractional Share shall be paid in cash in an
amount as determined by the Committee. Until the Participant's Stock Deferral

                                       5

<PAGE>

Accounts have been completely distributed, the balance in the Stock Deferral
Accounts shall continue to be credited with the dividend equivalents on such
balances as provided in Section 5(b).

     (e) If the Participant elects to satisfy tax withholding under paragraph
(c) with Shares, then such withholding shall be from those Shares otherwise
issuable pursuant to paragraph (c) above, and shall be such number of Shares
that will provide for the federal, state and/or local income tax at the rates
then applicable for supplemental wages, unless otherwise requested by the
Participant, but in no event less than the statutory minimums for tax
withholding.

     (f) For purposes under paragraph (e) of determining the number of Shares
that are to be withheld to provide for the tax withholding, Shares shall be
valued at the closing price on the New York Stock Exchange of a Share on the
date the Shares are distributable (or if the Shares were not traded on that
date, on the next preceding day on which the Shares were so traded). If the
determination of the tax withholding would require the withholding of a
fractional Share, the Participant shall remit cash to the Company in lieu of
such fractional Share.

     (g) In the event a Participant dies prior to receiving payment of the
entire amount in that Participant's Cash Deferral Accounts and/or Stock Deferral
Accounts, as the case may be, the unpaid balance shall be paid to such
beneficiary as the Participant may have designated in writing to the Vice
President, Human Resources, of the Company as the beneficiary to receive any
such post-death distribution under the Plan or, in the absence of such written
designation, to the Participant's legal representative or to the beneficiary
designated in the Participant's last will as the one to receive such
distributions. Distributions subsequent to the death of a Participant may be
made either in a lump sum or in periodic installments in such amounts and over
such period, not exceeding ten years from the date of death, as the Committee
may direct and the amount of each installment shall be computed as provided in
Section 6(b), and (d) as the case may be.

     (h) Payments from the Cash Deferral Accounts shall be made in cash and
payments from the Stock Deferral Accounts shall be made in Shares. The amount of
any distribution pursuant to Sections 6 through 9 shall reduce the balance held
in the Participant's corresponding Deferral Accounts as of the date of such
distribution. Installment payments shall be made pro-rata from a Participant's
Deferral Accounts.

7. IN-SERVICE DISTRIBUTIONS. Pursuant to Section 3 and other than for deferrals
pursuant to Section 3(e), a Participant may elect to receive an in-service
distribution of all or any specified percentage of the Participant's deferral
for any calendar year commencing not earlier than the first year following the
year that such compensation would have been payable. In-service distributions
shall be made in a lump sum payment. A Participant may elect once for any
calendar year of deferral for which the Participant has elected an in-service
distribution, to change the date of distribution to another in-service year or
upon termination;

                                       6
<PAGE>

provided, however, that any such modification must be made in writing at least
twelve (12) months prior to the date originally elected for the in-service
distribution. Notwithstanding the foregoing, any distribution hereunder shall be
subject to further deferral pursuant to an election under Section 3(e).

8. SPECIAL DISTRIBUTIONS. Notwithstanding any other provision of this Plan, a
Participant may elect to receive distribution of part or all of the total of
Participant's eligible Deferral Accounts, other than from deferrals pursuant to
Section 3(e), in one or more distributions if (and only if) the amount of the
distribution is reduced by ten (10) percent. The ten (10) percent reduction
shall be forfeited. Distributions shall be made pro-rata among Participant's
eligible Deferral Accounts. Any distribution made pursuant to such an election
shall be made within sixty (60) days of the date such election is submitted to
Vice President - Human Resources. Notwithstanding the foregoing, any
distribution hereunder shall be limited to an amount that would not be subject
to further deferral pursuant to an election under Section 3(e).

9. HARDSHIP DISTRIBUTIONS. The Committee may accelerate the distribution of part
or all, in any or all, of a Participant's Deferral Accounts for reasons of
severe financial hardship. For purposes of the Plan, severe financial hardship
shall be deemed to exist in the event the Committee determines that a
Participant needs a distribution to meet immediate and heavy financial needs
resulting from a sudden or unexpected illness or accident of the Participant or
a member of the Participant's family, loss of the Participant's property due to
casualty, or other similar extraordinary and unforeseeable circumstance arising
as a result of events beyond the control of the Participant. A distribution
based on financial hardship shall not exceed the amount required to meet the
immediate financial need created by the hardship.

10. NON-ASSIGNABILITY. None of the rights or interests in any of the
Participant's Deferral Accounts shall, at any time prior to actual payment or
distribution pursuant to the Plan, be assignable or transferable in whole or in
part, either voluntarily or by operation of law or otherwise, and such rights
and interest shall not be subject to payment of debts by execution, levy,
garnishment, attachment, pledge, bankruptcy or in any other manner; provided
that, upon the occurrence of any such assignment or transfer or the attempted
assignment or transfer, all payments hereunder shall be payable in the sole and
unrestricted judgment and discretion of the Committee, as to time and amount
(including a lump sum amount), and shall be distributable to the person who
would have received the payment but for this Section 10 only at such time or
times and in such amounts as the Committee, from time to time, and in its sole
and unrestricted judgment and discretion, shall determine. Should an event
covered by this Section 10 occur prior to the death of a Participant, the
balance, if any, in the Participant's accounts shall, after such death, be
thereafter distributed as provided in Section 6 subject to the provisions of
this Section 10.

11. INTEREST OF PARTICIPANT. The Company shall be under no obligation to
segregate or reserve any funds or other assets for purposes relating to the Plan
and, except as set forth in this Plan, no Participant shall have any rights

                                       7

<PAGE>

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

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

13. PLAN IMPLEMENTATION. This Plan is adopted and effective on the 25th day of
July, 1994, as amended on June 17, 1995, as further amended September 25, 1995,
effective as of January 1, 1995, further amended on September 22, 1997 and
further amended on September 27, 1999, effective as of January 1, 2000;
provided, however that any deferrals made hereunder into a Stock Deferral
Account prior to January 1, 2000, shall be governed by the provisions of the
Plan in effect prior to January 1, 2000, further amended on February 28, 2000,
effective as of January 1, 2000, further amended on March 11, 2000, and further
amended on November 12, 2001.

                                       8

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