Document:

<PAGE>
                                                                   EXHIBIT 10(j)

                                FERRO CORPORATION
                             SUPPLEMENTAL EXECUTIVE
                            DEFINED CONTRIBUTION PLAN
                          (JANUARY 1, 2001 RESTATEMENT)
<PAGE>
                                FERRO CORPORATION
                             SUPPLEMENTAL EXECUTIVE
                            DEFINED CONTRIBUTION PLAN
                          (JANUARY 1, 2001 RESTATEMENT)

<TABLE>
<CAPTION>
SECTION                                                                 PAGE
<S>                                                                     <C>
                                   ARTICLE I
                                  DEFINITIONS

1.1    Definitions ..................................................      2
1.2    Construction .................................................      5

                                  ARTICLE II
                      ELIGIBILITY FOR PLAN PARTICIPATION                   6

                                  ARTICLE III
                      SUPPLEMENTAL MATCHING CONTRIBUTIONS

3.1    Supplemental Matching Contributions ..........................      7
3.2    Vesting of Supplemental Matching
         Contributions...............................................      7
3.3    Years of Vesting Service......................................      8

                                  ARTICLE IV
                               SEPARATE ACCOUNTS

4.1    Types of Separate Accounts ...................................      9
4.2    Adjustment of Separate Accounts ..............................      9
4.3    Election to Transfer into Company Stock.......................      9

                                   ARTICLE V
                                 DISTRIBUTION

5.1    Distribution Upon Termination of Employment ..................     10
5.2    Method of Distribution .......................................     10
5.3    Times of Payments.............................................     10
5.4    Distributions Upon Death......................................     10
5.5    Taxes.........................................................     10
</TABLE>

                                      (i)
<PAGE>
<TABLE>
<S>                                                                       <C>
                                  ARTICLE VI
                                 BENEFICIARIES                            11

                                  ARTICLE VII
                           ADMINISTRATIVE PROVISIONS

7.1    Administration ...............................................     12
7.2    Powers and Authorities of the Board ..........................     12
7.3    Indemnification ..............................................     12

                                 ARTICLE VIII
                           AMENDMENT AND TERMINATION                      13

                                  ARTICLE IX
                                 MISCELLANEOUS

9.1    Non-Alienation of Benefits ...................................     14
9.2    Payment of Benefits to Others ................................     14
9.3    Qualified Domestic Relations Orders...........................     14
9.4    Plan Non-Contractual .........................................     15
9.5    Funding ......................................................     15
9.6    Claims of Other Persons ......................................     15
9.7    Severability .................................................     16
9.8    Governing Law ................................................     16
</TABLE>

                                      (ii)
<PAGE>
                                FERRO CORPORATION
                             SUPPLEMENTAL EXECUTIVE
                            DEFINED CONTRIBUTION PLAN
                          (JANUARY 1, 2001 RESTATEMENT)

      WHEREAS, effective as of January 1, 1996, Ferro Corporation (hereinafter
referred to as the "Company") established the Ferro Corporation Supplemental
Executive Defined Contribution Plan (hereinafter referred to as the "Plan") for
the benefit of a select group of management or highly compensated employees
employed by the Company or an Affiliate thereof whose benefits under the Ferro
Corporation Savings and Stock Ownership Plan are limited or reduced by certain
provisions of the Internal Revenue Code of 1986, as amended (hereinafter
referred to as the "Code"); and

      WHEREAS, the Company desires to amend the Plan in certain respects;

      NOW, THEREFORE, effective as of January 1, 2001, the Company hereby amends
and restates the Plan as hereinafter set forth.
<PAGE>
                                    ARTICLE I

                                   DEFINITIONS

      1.1 DEFINITIONS. Except as otherwise required by the context, the terms
used in the Plan shall have the meaning hereinafter set forth.

            (a) AFFILIATE. The term "AFFILIATE" shall mean any member of a
      controlled group of corporations of which the Company is a member as
      determined under Section 414(b) of the Code; any member of a group of
      trades or businesses under common control with the Company as determined
      under Section 414(c) of the Code; any member of an affiliated service
      group of which the Company is a member as determined under Section 414(m)
      of the Code; and any other entity which is required to be aggregated with
      the Company pursuant to the provisions of Section 414(o) of the Code.

            (b) BENEFICIARY. The term "BENEFICIARY" shall mean the person who,
      in accordance with the provisions of Article VI, shall be entitled to
      receive a distribution hereunder in the event a Participant dies before
      his interest under the Plan has been distributed to him in full.

            (c) BOARD. The term "BOARD" shall mean the Board of Directors of the
      Company.

            (d) CASH FUND. The term "CASH FUND" shall man the deemed investment
      fund to which Supplemental Matching Contributions credited with respect to
      Plan Years beginning prior to January 1, 2001 were deemed deposited and
      credited thereafter with interest at a rate approved by the Committee.

            (e) COMMITTEE. The term "COMMITTEE" shall mean the Compensation and
      Organization Committee of the Board or a group of at least three members
      of the Board designated by the Compensation and Organization Committee of
      the Board to perform certain specified functions under the Plan.

            (f) COMPANY STOCK. The term "COMPANY STOCK" shall mean shares of
      common stock of the Company and/or preferred stock convertible into common
      stock of the Company.

            (g) COMPANY STOCK FUND. The term "COMPANY STOCK FUND" shall mean the
      deemed investment fund to which Supplemental Matching Contributions on and
      after January 1, 2001, are deemed deposited or transferred from the Cash
      Fund.

                                       2
<PAGE>
            (h) CHANGE OF CONTROL. The term "CHANGE OF CONTROL" shall mean a
      change in control of the Company of a nature that would be required to be
      reported in response to Item 6(e) of Schedule 14A of Regulation 14A
      promulgated under the Securities Exchange Act of 1934, as amended
      ("Exchange Act"); provided that, without limitation, such a Change in
      Control shall be deemed to have occurred if and at such times as (i) any
      "person" (as such term is used in Sections 13(d)(3) and 14(d)(2) of the
      Exchange Act) is or becomes the beneficial owner, directly or indirectly,
      of securities of the Company representing twenty-five percent (25%) or
      more of the combined voting power of the Company's then outstanding
      securities; or (ii) during any period of two consecutive years,
      individuals who at the beginning of such period constituted the Board of
      Directors of the Company and any new director (other than a director
      designated by a person who has entered into an agreement or arrangement
      with the Company to effect a transaction described in clause (i) or (iii)
      of this sentence) whose appointment, election, or nomination for election
      by the Company's shareholders, was approved by a vote of at least
      two-thirds of the directors then still in office who either were directors
      at the beginning of the period or whose election or nomination for
      election was previously so approved, cease for any reason to constitute at
      least a majority of the Board of Directors of the Company; or (iii) there
      is consummated a merger or consolidation of the Company or a subsidiary
      thereof with or into any other corporation, other than a merger or
      consolidation which would result in the holders of the voting securities
      of the Company outstanding immediately prior thereto holding securities
      which represent immediately after such merger or consolidation more than
      50% of the combined voting power of the voting securities of either the
      Company or the other entity which survives such merger or consolidation or
      the parent of the entity which survives such merger or consolidation; or
      (iv) there is consummated the sale or disposition by the Company of all or
      substantially all the Company's assets.

            (i) CODE. The term "CODE" shall mean the Internal Revenue Code of
      1986, 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.

            (j) COMPANY. The term "COMPANY" shall mean Ferro Corporation, its
      corporate successors, and the surviving corporation resulting from any
      merger of Ferro Corporation with any other corporation or corporations.

            (k) COMPENSATION. The term "COMPENSATION" shall mean the
      compensation (as defined in Section 415(c)(3) of the Code) paid by the

                                       3
<PAGE>
      Company or an Affiliate to, or on behalf of, a Participant while a
      Participant during a Plan Year, including all wages and salary,
      commissions, bonuses, accrued vacation pay, Pre-Tax Contributions
      contributed under the SSOP, elective employer contributions made on behalf
      of the Participant that are not includible in gross income under Section
      125 and Section 402(e)(3) of the Code, and deferred amounts under the
      Ferro Corporation Executive Employee Deferred Compensation Plan (formerly
      known as the Ferro Corporation Executive Employee Deferred Bonus Plan),
      but excluding relocation expense reimbursements (including mortgage
      interest differentials) or other expense allowances or fringe benefits
      which are paid with respect to a period following termination of
      employment, automobile allowance income, foreign service premiums, and any
      other extraordinary income, allowance, and welfare benefits.

            (l) DISABILITY. The term "DISABILITY" shall mean eligibility to
      receive disability benefits under a long-term disability plan maintained
      by the Company or an Affiliate.

            (m) FINANCIAL HARDSHIP. The term "FINANCIAL HARDSHIP" shall mean a
      severe and unexpected financial need for cash arising from (i) an illness
      or accident of the Participant or a member of his family, (ii) the loss
      of, or damage to, property (real or personal) of the Participant due to a
      casualty, or (ii) such other similar extraordinary and unforeseeable
      circumstance or emergency arising as a result of events beyond the control
      of the Participant, all as determined in the sole discretion of the
      Committee.

            (n) FUND. The term "FUND" shall mean either the Cash Fund or the
      Company Stock Fund deemed to be maintained for purposes of the Plan.

            (o) PARTICIPANT. The term "PARTICIPANT" shall mean any employee of
      the Company or an Affiliate, who participates in the Plan pursuant to
      Article II of the Plan.

            (p) PLAN. The term "PLAN" shall mean the Ferro Corporation
      Supplemental Executive Defined Contribution Plan as set forth herein with
      all amendments, modifications, and supplements hereinafter made.

            (q) PLAN YEAR. The term "PLAN YEAR" shall mean the calendar year.

            (r) SSOP. The term "SSOP" shall mean the Ferro Corporation Savings
      and Stock Ownership Plan, as amended from time to time.

                                       4
<PAGE>
            (s) SEPARATE ACCOUNT. The term "SEPARATE ACCOUNT" shall mean the
      account maintained in the name of a Participant pursuant to Section 4.1 of
      the Plan.

            (t) SUPPLEMENTAL MATCHING CONTRIBUTIONS. The term "SUPPLEMENTAL
      MATCHING CONTRIBUTIONS" shall mean contributions credited to a Participant
      in accordance with the provisions of Section 3.1.

            (u) VALUATION DATE. The term "VALUATION DATE" shall mean the last
      day of each calendar year.

            (v) YEARS OF VESTING SERVICE. The term "YEARS OF VESTING SERVICE"
      shall mean service credited to a Participant under the provisions of
      Section 3.5.

      1.2 CONSTRUCTION. Where necessary or appropriate to the meaning hereof,
the singular shall be deemed to include the plural, the plural to include the
singular, the masculine to include the feminine, and the feminine to include the
masculine.

                                       5
<PAGE>
                                   ARTICLE II
                       ELIGIBILITY FOR PLAN PARTICIPATION

      Any select management or highly compensated employee of the Company or an
Affiliate who is classified as being in Salary Grade 22 or higher and whose
contributions under the SSOP are limited due to the provisions of Section
401(a), Section 401(k), Section 401(m), Section 402(g), or Section 415 of the
Code, shall become a Participant in the Plan as of the January 1 immediately
following the date he is classified as being in Salary Grade 22 or higher,
whichever occurs later.

                                       6
<PAGE>
                                   ARTICLE III
                       SUPPLEMENTAL MATCHING CONTRIBUTIONS

      3.1 SUPPLEMENTAL MATCHING CONTRIBUTIONS. Each Plan Year a Supplemental
Matching Contribution shall be credited to the Separate Account of each
Participant who makes the maximum 401(k) Contributions permitted under the SSOP
for such Plan Year and (i) who is employed by the Company or an Affiliate on the
last day of the Plan Year, or (ii) who died during the Plan Year, or (iii) who
retired during the Plan Year and began receiving pension benefits under a
defined benefit plan of the Company or an Affiliate, or (iv) who incurred a
Disability during the Plan Year, or (v) who participated in the Ferro
Corporation Executive Employee Deferred Compensation Plan (formerly known as the
Ferro Corporation Executive Deferred Bonus Plan) during the Plan Year. Such
Supplemental Matching Contribution shall be equal to the amount of Matching
Contributions that would have been made under the SSOP for such Plan Year (i) if
the 401(k) Contributions of such Participant under the SSOP had not been limited
due to the provisions of the Code, and (ii) the Participant had elected to make
401(k) Contributions under the SSOP equal to 8 percent of his Compensation
(including any deferrals made under the Ferro Corporation Executive Employee
Deferred Compensation Plan), but minus the amount of Matching Contributions
actually credited to such Participant under the SSOP for such Plan Year.
Supplemental Matching Contributions made with respect to Plan Years beginning on
or after January 1, 2001 shall be deemed to be made in Company Stock.

      3.2 VESTING OF SUPPLEMENTAL MATCHING CONTRIBUTIONS. A Participant shall
become vested in the balance of his Separate Account pursuant to the following
schedule.

<TABLE>
<CAPTION>
               YEARS OF VESTING SERVICE                         PERCENTAGE VESTED
               ------------------------                         -----------------
<S>                                                             <C>
               Less than 1 year                                         0%
               1 year, but less than 2                                 20%
               2 years, but less than 3                                40%
               3 years, but less than 4                                60%
               4 years, but less than 5                                80%
               5 years or more                                        100%
</TABLE>

                                       7
<PAGE>
Notwithstanding the foregoing, a Participant who is employed by the Company or
an Affiliate shall become 100% vested in his Separate Account upon the earlier
of: (i) attainment of age 65, (ii) Disability, (iii) death, or (iv) a Change of
Control.

      3.3 YEARS OF VESTING SERVICE. For purposes of determining the vested
interest of a Participant in his Separate Account, a Participant shall be
credited with Years of Vesting Service equal to the Years of Service with which
he is credited under the SSOP.

                                       8
<PAGE>
                                   ARTICLE IV

                                SEPARATE ACCOUNTS

      4.1 TYPES OF SEPARATE ACCOUNTS. Each Participant shall have established in
his name a Separate Account which shall reflect the Supplemental Matching
Contributions credited to him under Section 3.1 and any adjustment thereto
pursuant to Section 4.2.

      4.2 ADJUSTMENT OF SEPARATE ACCOUNTS. The Separate Account of a Participant
shall be adjusted as of each Valuation Date to reflect the deemed investment of
such Separate Accounts in the Cash Fund and the Company Stock Fund as determined
by the Company.

      4.3 ELECTION TO TRANSFER INTO COMPANY STOCK. In accordance with procedures
approved by the Committee, each Participant may elect to change the deemed
investment of any percentage of the balance of his Separate Account deemed to be
invested in the Cash Fund or the Company Stock Fund.

                                       9
<PAGE>
                                    ARTICLE V

                                  DISTRIBUTION

      5.1 TIME OF DISTRIBUTION. The entire value of a Participant's Separate
Account shall be distributed to such Participant or his Beneficiary after the
Disability of such Participant or the termination of such Participant's
employment with the Company and its Affiliates, whichever occurs earlier;
provided, however, that if a Participant makes an election under Section 5.3,
the value of his Separate Account shall be distributed pursuant to such
election.

      5.2 METHOD OF DISTRIBUTION. The portion of a Participant's Separate
Account deemed invested in the Company Stock fund shall be distributed in
Company Stock unless the Participant elects to receive such portion in cash, and
the portion of a Participant's Separate Account deemed to be invested in the
Cash Fund shall be distributed in cash.

      5.3 TIME OF PAYMENT. Except as otherwise provided in Section 5.4,
distribution of the value of a Participant's Separate Account shall be made as
soon as practicable after the Participant's termination of employment due to
resignation, retirement, or other reason; provided, however, that any
Participant who terminates employment due to retirement after attainment of age
55 under the Ferro Corporation Retirement Plan may elect no later than 30 days
prior to his termination of employment to defer the payment of the value of his
Separate Account to a date that is within the next subsequent five years
pursuant to procedures approved by the Committee.

      5.4 DISTRIBUTIONS UPON DEATH. Upon the death of a Participant, the value
of his Separate Account shall be paid to his Beneficiary as soon as practicable
pursuant to the provisions of Article VI.

      5.5 TAXES. In the event any taxes are required by law to be withheld or
paid from any payments made pursuant to the Plan, the Company shall cause the
withholding of such amounts from such payments and shall transmit the withheld
amounts to the appropriate taxing authority.

                                       10
<PAGE>
                                   ARTICLE VI

                                  BENEFICIARIES

      In the event a Participant dies before his interest under the Plan in his
Separate Account has been distributed to him in full, any remaining interest
shall be distributed pursuant to Section 5.4 to his Beneficiary, who shall be
the person designated in writing and in the form and manner specified by the
Company as his Beneficiary under the Plan. In the event a Participant does not
designate a Beneficiary or his designated Beneficiary does not survive him, his
beneficiary under the SSOP shall be his Beneficiary for Plan purposes.

                                       11
<PAGE>
                                   ARTICLE VII

                            ADMINISTRATIVE PROVISIONS

      7.1 ADMINISTRATION. Except as otherwise specifically provided herein with
respect to the powers and responsibilities of the Committee, the Plan shall be
administered by the Company in a manner that is generally consistent with the
administration of the SSOP, as from time to time amended, except that the Plan
shall be administered as an unfunded plan not intended to meet the qualification
requirements of Section 401 of the Code.

      7.2 POWERS AND AUTHORITIES OF THE COMPANY. Except as otherwise
specifically provided herein, the Company shall have full power and authority to
interpret, construe and administer the Plan and its interpretations and
construction hereof, and actions hereunder, including the timing, form, amount
or recipient of any payment to be made hereunder, shall be binding and
conclusive on all persons for all purposes. The Company may delegate any of its
powers, authorities, or responsibilities for the operation and administration of
the Plan to any person or a 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.

      7.3 INDEMNIFICATION. In addition to whatever rights of indemnification a
person or persons to whom any power, authority, or responsibility is delegated
pursuant to Section 7.2, may be entitled under the articles of incorporation,
regulations, or by-laws of the Company, under any provision of law, or under any
other agreement, the Company shall satisfy any liability actually and reasonably
incurred by any such member or such other person or persons, including expenses,
attorneys' fees, judgments, fines, and amounts paid in settlement, in connection
with any threatened, pending, or completed action, suit, or proceeding which is
related to the exercise or failure to exercise by such member or such other
person or persons of any of the powers, authority, responsibilities, or
discretion provided under the Plan.

                                       12
<PAGE>
                                  ARTICLE VIII

                            AMENDMENT AND TERMINATION

      The Company reserves the right to amend or terminate the Plan at any time
by action of the Board; provided, however, that no such action shall adversely
affect any Participant who is receiving benefits under the Plan or whose
Separate Account is credited with any Supplemental Matching Contributions
thereto, unless an equivalent benefit is provided under another plan or program
sponsored by the Company or an Affiliate.

                                       13
<PAGE>
                                   ARTICLE IX

                                  MISCELLANEOUS

      9.1 NON-ALIENATION OF BENEFITS. Except as provided in Section 9.3, no
benefit under the Plan shall at any time be subject in any manner to alienation
or encumbrance. If any Participant or Beneficiary shall attempt to, or shall,
alienate or in any way encumber his benefits under the Plan, or any part
thereof, or if by reason of his bankruptcy or other event happening at any time
any such benefits would otherwise be received by anyone else or would not be
enjoyed by him, his interest in all such benefits shall automatically terminate
and the same shall be held or applied to or for the benefit of such person, his
spouse, children, or other dependents as the Committee may select.

      9.2 PAYMENT OF BENEFITS TO OTHERS. If any Participant or Beneficiary to
whom a benefit is payable is unable to care for his affairs because of illness
or accident, any payment due (unless prior claim therefor shall have been made
by a duly qualified guardian or other legal representative) may be paid to the
spouse, parent, brother, or sister, or any other individual deemed by the
Committee to be maintaining or responsible for the maintenance of such person.
Any payment made in accordance with the provisions of this Section 9.2 shall be
a complete discharge of any liability of the Plan with respect to the benefit so
paid.

      9.3 QUALIFIED DOMESTIC RELATIONS ORDERS. Notwithstanding the foregoing,
the provisions of Section 9.1 shall not apply with respect to a "qualified
domestic relations order." As used herein, a "qualified domestic relations
order" shall mean a judgment, decree or order (including approval of any
property settlement agreement) which relates to a provision of child support,
alimony payments or marital property rights to a spouse, child or other
dependent of a Participant and which is made pursuant to the domestic relations
or community property laws of any State. Any such order must comply with the
provisions of Section 414(p) of the Code and with any regulations issued
thereunder. The Company shall, in its sole discretion, establish such rules and
regulations as it deems necessary to determine whether an order meets such
requirements.

                                       14
<PAGE>
      9.4 PLAN NON-CONTRACTUAL. Nothing herein contained shall be construed as a
commitment or agreement on the part of any person employed by the Company or an
Affiliate to continue his employment with the Company or Affiliate, and nothing
herein contained shall be construed as a commitment on the part of the Company
or the Affiliate 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.

      9.5 FUNDING. In order to provide a source of payment for its obligations
under the Plan, the Company may establish a trust fund. Subject to the
provisions of the trust agreement governing such trust fund, the obligation of
the Company under the Plan to provide a Participant or a Beneficiary with a
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. In addition, it is the intention of the
Company that benefits credited to a Participant under the Plan shall not be
included in the gross income of the Participants or their Beneficiaries until
such time as benefits are distributed under the provisions of the Plan. If, at
any time, it is determined that benefits under the Plan are currently taxable to
a Participant or his Beneficiary, the currently amounts credited to the
Participant's Separate Account which become so taxable shall be distributable
immediately to him; provided, however, that in no event shall amounts so payable
to a Participant exceed the value of his Separate Account.

      9.6 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.

                                       15
<PAGE>
      9.7 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.

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

      EXECUTED at Cleveland, Ohio, this _______ day of ____________, 2001.

                                FERRO CORPORATION

                                By:_______________________________
                                   Title:

                                       16<PAGE>
                                                                   Exhibit 10(k)

                                FERRO CORPORATION
                  EXECUTIVE EMPLOYEE DEFERRED COMPENSATION PLAN

              (As Amended and Restated Effective February 9, 2001)

                                    ARTICLE I
                            ESTABLISHMENT AND PURPOSE

               1.1 ESTABLISHMENT. Ferro Corporation, an Ohio corporation
("Ferro") established effective as of January 1, 1998, a deferred compensation
plan for certain of its executive employees known as the Ferro Corporation
Executive Employee Deferred Compensation Plan (the "Plan"). The Plan was
thereafter amended by a First Amendment effective as of January 1, 1999 (the
"First Amendment"), and by a Second Amendment effective as of February 9, 2001
(the "Second Amendment"). The Second Amendment changed the name of the Plan to
Ferro Corporation Executive Employee Deferred Compensation Plan. This Plan
document incorporates the First Amendment and the Second Amendment.

               1.2 PURPOSE. The purpose of the Plan is to provide certain
executive employees of Ferro with the opportunity to voluntarily defer (i) all
or a portion of their annual incentive cash bonus awards they otherwise would
receive under the Incentive Bonus Plan for services performed for Ferro and/or
(ii) up to seventy-five percent (75%) of their Base Annual Salary, and/or (iii)
all or a portion of any award to such executive employees under the Performance
Share Plan.. The Plan is intended to be a "top-hat" plan (i.e., an unfunded
deferred compensation plan maintained for a select group of management or highly
compensated employees) under Sections 201(2), 301(a)(3), and 401(a)(1) of the
Employee Retirement Income Security Act of 1974, as amended ("ERISA").

                                   ARTICLE II
                                   DEFINITIONS

               Whenever the following initially capitalized words and phrases
are used in this Plan, they shall have the meanings specified below unless the
context clearly indicates otherwise:

                  2.1 "BASE ANNUAL SALARY" shall mean the regular annual salary
payable to an Executive Employee excluding bonuses, commissions, incentive
compensation, any extraordinary compensation of a recurring or nonrecurring
nature, compensation paid in a form other than cash, and contributions,
accruals, or benefits under this Plan or under any Ferro employee benefit plan.

                  2.2 "BENEFICIARY" shall mean such person or legal entity as
may be designed by a Participant under Section 7.1 to receive benefits hereunder
after such Participant's death.

                  2.3 "BOARD" and "BOARD OF DIRECTORS" shall mean the Board of
Directors of Ferro, as constituted from time to time.

<PAGE>

                  2.4 "BONUS" shall mean any annual incentive cash bonus payable
by Ferro to a Participant under the Incentive Bonus Plan with respect to the
Participant's services during a given fiscal year of Ferro, and shall be deemed
earned only upon award by Ferro.

                  2.5 "CHANGE IN CONTROL" shall mean a change in the control of
Ferro of a nature that would be required to be reported in response to Item 6(e)
of Schedule 14A of Regulation 14A promulgated under the Securities Exchange Act
of 1934, as amended ("Exchange Act"); provided that, without limitation, such a
Change in Control shall be deemed to have occurred if and at such times as (i)
any "person" (as such term is used in Sections 13(d)(3) and 14(d)(2) of the
Exchange Act) is or becomes the beneficial owner, directly or indirectly, of
securities of Ferro representing twenty-five percent (25%) or more of the
combined voting power of Ferro's then outstanding voting securities; or (ii)
during any period of two consecutive years, individuals who at the beginning of
such period constituted the Board of Directors of Ferro and any new director
(other than a director designated by a person who has entered into an agreement
or arrangement with Ferro to effect a transaction described in clause (i) or
(iii) of this sentence) whose appointment, election, or nomination for election
by Ferro's shareholders, was approved by a vote of at least two-thirds of the
directors then still in office who either were directors at the beginning of the
period or whose appointment, election or nomination for election was previously
so approved, cease for any reason to constitute at least a majority of the Board
of Directors of Ferro; or (iii) there is consummated a merger or consolidation
of Ferro or a subsidiary thereof with or into any other corporation, other than
a merger or consolidation which would result in the holders of the voting
securities of Ferro outstanding immediately prior thereto holding securities
which represent immediately after such merger or consolidation more than 50% of
the combined voting power of the voting securities of either Ferro or the other
entity which survives such merger or consolidation or the parent of the entity
which survives such merger or consolidation; or (iv) there is consummated the
sale or disposition by Ferro of all or substantially all Ferro's assets.

                  2.6 "CODE" shall mean the Internal Revenue Code of 1986, as
amended.

                  2.7 "COMMITTEE" shall mean a committee of one or more
individuals designated by the Compensation and Organization Committee of the
Board to administer the Plan pursuant to the terms hereof.

                  2.8 "DEFERRED COMPENSATION" shall mean that portion of the
Participant's annual Bonus and/or Award and/or Base Annual Salary which the
Participant voluntarily and irrevocably elects to defer pursuant to Section 4.1
of this Plan in accordance with a Deferred Compensation Agreement.

                  2.9 "DEFERRED COMPENSATION ACCOUNT" shall mean the
recordkeeping account established by Ferro for each Participant to which a
Participant's Deferred Compensation is credited and from which distributions to
the Participant or to his or her Beneficiary are debited.

                  2.10 "DEFERRED COMPENSATION AGREEMENT" shall mean a document
(or documents) as provided from time to time by Ferro or the Committee pursuant
to which an Executive Employee voluntarily enrolls as a Participant and
irrevocably elects to defer all or a portion of his or her annual Bonus and/or
his or her Award and/or up to seventy-five percent (75%) of his or her Base
Annual Salary pursuant to Section 4.1 of this Plan.

                                     - 2 -
<PAGE>

                  2.11 "DISABILITY" shall mean a disability qualifying for
benefits payable to Participant under Ferro's long-term disability plan.

                  2.12 "EXECUTIVE EMPLOYEE" shall mean an individual who is
employed by Ferro, and who is a management employee in Grades 22 and higher in
Ferro's Executive Payroll Group, and who participates in the Incentive Bonus
Plan.

                  2.13 "FINANCIAL HARDSHIP" shall mean a severe financial
hardship and unexpected need for cash resulting from a sudden and unexpected
illness or accident of the Participant, or of a dependent (within the meaning of
Code Section 152(a)) of the Participant, loss of the Participant's property due
to casualty, or such other similar extraordinary and unforeseeable circumstances
or emergencies arising as a result of events beyond the control of the
Participant, all as determined in the sole discretion of the Committee.

                  2.14 "INCENTIVE BONUS PLAN" shall mean Ferro's Annual
Incentive Compensation Plan as the same may be modified from time to time.

                  2.15 "PARTICIPANT" shall mean an Executive Employee (i) who is
selected by the Committee to participate in the Plan, as evidenced by the
Committee's execution of a Deferred Compensation Agreement, (ii) who elects to
participate in the Plan and defer all or a portion of his or her Bonus and/or
all or a portion of his or her Award and/or up to seventy-five percent (75%) of
his or her Base Annual Salary pursuant to a signed Deferred Compensation
Agreement, (iii) who has amounts credited under a Deferred Compensation Account,
and (iv) whose participation in the Plan has not terminated.

                  2.16 "PLAN YEAR" shall mean the twelve consecutive month
calendar year beginning each January 1, and ending each December 31.

                  2.17 "RETIREMENT" shall mean termination of employment with
Ferro on or after becoming eligible for an Early Retirement Benefit under the
Ferro Corporation Retirement Plan.

                  2.18 "VALUATION DATE" shall mean the last day of each Plan
Year and any other date that Ferro, in its sole discretion, designates from time
to time.

                                   ARTICLE III
                      PARTICIPATION BY EXECUTIVE EMPLOYEES

                  3.1 PARTICIPATION. Participation in this Plan is limited to
Executive Employees selected by the Committee. An Executive Employee shall
become a Participant in the Plan as of the first day of a Plan Year upon
selection by the Committee and upon the execution by the Committee and such
Executive Employee of a Deferred Compensation Agreement pursuant to Section 4.1
hereof.

                  3.2 CESSATION OF PARTICIPATION. A Participant who (i)
separates from service with Ferro, or (ii) ceases to be an Executive Employee
shall immediately thereupon cease active participation in this Plan.

                                     - 3 -
<PAGE>

                  3.3 TRANSFER OR CASH-OUT OF INELIGIBLE EMPLOYEE. This Plan is
intended to be an unfunded "top hat" plan, maintained primarily for purposes of
providing deferred compensation for a select group of management or highly
compensated employees. Accordingly, if the Committee determines that any
Participant does not qualify as a member of such select group, the Committee, in
the Committee's sole discretion, may either (i) terminate such Participant's
participation in the Plan, terminate the Participant's Deferred Compensation
Agreement, and immediately pay such Participant an amount of cash equal to one
hundred percent (100%) of the amount credited to such Participant's Deferred
Compensation Account, or (ii) terminate such Participant's participation in the
Plan, terminate the Participant's Deferred Compensation Agreement, and cancel
such Participant's Deferred Compensation Account and immediately credit the
amount credited to such canceled Deferred Compensation Account to a new account
under Ferro's Incentive Employee Deferred Compensation Plan.

                                   ARTICLE IV
                                ANNUAL DEFERRALS

                  4.1 ANNUAL DEFERRAL ELECTION. No later than March 31 of each
Plan Year, each Executive Employee who is selected by the Committee to
participate in the Plan may irrevocably elect, by completing and executing a
Deferred Compensation Agreement and delivering it to the Committee, to defer (i)
any portion up to one hundred percent (100%) of his or her Bonus to be earned
for such year, and/or (ii) any portion up to one hundred percent (100%) of his
or her award under Ferro's Performance Share Plan (the "Award") with respect to
Awards for which the Performance Period (as defined in the Performance Share
Plan) began on January 1st of the Plan Year, and/or (iii) up to seventy-five
percent (75%) of his or her Base Annual Salary to be earned for such year.

                  4.2 EFFECTIVE PERIOD. A Participant's deferral election under
Section 4.1 with respect to his or her Bonus and/or Award and/or Base Annual
Salary shall be effective only for the Plan Year specified in the Deferred
Compensation Agreement. A Participant must file a separate Deferred Compensation
Agreement by March 31 of each subsequent Plan Year in order to make deferrals
for such subsequent Plan Years.

                                    ARTICLE V
                                    ACCOUNTS

                  5.1 DEFERRED COMPENSATION ACCOUNTS RELATING TO PRE-1999
DEFERRED COMPENSATION ELECTIONS.

                  (A) Ferro shall establish and maintain a separate Deferred
Compensation Account for each Participant who executed a Deferred Compensation
Agreement pursuant to Section 4.1 prior to January 1, 1999. Each such
Participant's Deferred Compensation pursuant to such Deferred Compensation
Agreement shall be separately accounted for and credited with earnings pursuant
to

                                     - 4 -
<PAGE>

either Section 5.1(b) or Section 5.1(c) hereof, for recordkeeping purposes
only, to his or her Deferred Compensation Account.

                  (B) Each such Participant's Deferred Compensation Account
shall be credited annually with hypothetical earnings computed and determined by
the Committee using a rate of interest equal to three hundred (300) basis points
over the Ten-year Constant Treasury Maturity Yield as reported by the Federal
Reserve Board. Notwithstanding the foregoing, if such Participant consents to
Ferro's First Amendment to the Plan, Ferro shall compute hypothetical earnings
and appreciation and depreciation allocable to a Participant's Deferred
Compensation Account pursuant to Section 5.1(c) hereof.

                  (C) If such a Participant consents to Ferro's First Amendment
to the Plan, Ferro shall deem all of such Participant's Deferred Compensation
Account to be invested in shares of Ferro's common stock as of the date the
Deferred Compensation would have been paid if not deferred. During the period
that any part or all of a Participant's Deferred Compensation Account is deemed
to be invested in shares of Ferro's common stock, such Deferred Compensation
Account shall be deemed to receive all dividends (whether in the form of stock
or cash) and stock splits which would be received with respect to such shares as
if such investment had actually been made and such amounts shall be deemed to be
reinvested in shares of Ferro common stock as of the date of receipt, and credit
shall be made to the Participant's Deferred Compensation Account to reflect such
deemed receipts and reinvestments. The Ferro common stock investments described
above shall be deemed to have been made at a price equal to the closing sale
price of Ferro common stock on the New York Stock Exchange Composite Tape (as
reported in The Wall Street Journal) on the trading day immediately preceding
the date as of which a deemed investment is made.

                  (D) A Participant's Deferred Compensation Account shall be
solely for the purpose of measuring the amounts to be paid under the Plan. Ferro
shall not fund, and shall not be required to fund or secure the Deferred
Compensation Account in any way, and Ferro's obligation to Participants under
this Plan shall be solely contractual. After the end of each Plan Year, Ferro
shall furnish each Participant with a statement of the balance credited to the
Participant's Deferred Compensation Account as of the last day of the preceding
Plan Year.

                  5.2 DEFERRED COMPENSATION ACCOUNTS RELATING TO POST-1998
DEFERRED COMPENSATION ELECTION.

                  (A) Ferro shall establish and maintain a separate Deferred
Compensation Account for each Participant who executes a Deferred Compensation
Agreement pursuant to Section 4.1 after December 31, 1998. Each such
Participant's Deferred Compensation pursuant to such Deferred Compensation
Agreement shall be separately accounted for and credited by Ferro to the
Participant's Deferred Compensation Account and shall in the proportions
specified in such Deferred Compensation Agreement (i) be deemed to be invested
in shares of Ferro's common stock ("Deemed Ferro Stock Investment") as of the
date the Deferred Compensation would have been paid if not deferred; and/or (ii)
be deemed invested in Treasury investments yielding a rate of interest equal to
three hundred (300) basis points over the Ten-year Constant Treasury Maturity
Yield as reported by the Federal Reserve Board ("Deemed Treasury Investment").
During the period that any part or all of a Participant's Deferred Compensation
Account is deemed to be invested in the Deemed Ferro Stock

                                     - 5 -
<PAGE>

Investment, such Deferred Compensation Account shall be deemed to receive all
dividends (whether in the form of stock or cash) and stock splits which would be
received with respect to such shares as if such investment had actually been
made and such amounts shall be deemed to be reinvested in shares of Ferro common
stock as of the date of receipt, and credit shall be made to the Participant's
Deferred Compensation Account to reflect such deemed receipts and reinvestments.
The Deemed Ferro Stock Investments described above shall be deemed to have been
made at a price equal to the closing sale price of Ferro common stock on the New
York Stock Exchange Composite Tape (as reported in The Wall Street Journal) on
the trading day immediately preceding the date as of which a deemed investment
is made.

                  (B) Each Participant's Deferred Compensation Account shall, to
the extent of its Deemed Ferro Stock Investment, be credited annually with
hypothetical appreciation and depreciation and earnings computed and determined
by the Committee using the value of Ferro common stock and dividends thereon;
and, to the extent of its Deemed Treasury Investment credited annually with
hypothetical earnings computed and determined by the Committee using a rate of
interest equal to three hundred (300) basis points over the Ten-year Constant
Treasury Maturity Yield as reported by the Federal Reserve Board.

                  (C) A Participant's Deferred Compensation Account shall be
solely for the purpose of measuring the amounts to be paid under the Plan. Ferro
shall not fund, and shall not be required to fund or secure the Deferred
Compensation Account in any way, and Ferro's obligation to Participants under
this Plan shall be solely contractual. After the end of each Plan Year, Ferro
shall furnish each Participant with a statement of the balance credited to the
Participant's Deferred Compensation Account as of the last day of the preceding
Plan Year.

                                   ARTICLE VI
                                  DISTRIBUTIONS

                  6.1 IN GENERAL. Except as otherwise provided in this Article
VI, the amount credited to a Participant's Deferred Compensation Account shall
be payable to a Participant (or, in the case of Participant's death, the
Participant's Beneficiary) as soon as practicable after the earlier of (i) the
earlier the Participant's Retirement, death, Disability, or other termination of
employment with Ferro for any reason, or (ii) the date elected by the
Participant in such Deferred Compensation Agreement.

                  6.2 HARDSHIP DISTRIBUTIONS. At any time before payment in full
of amounts credited to a Participant's Deferred Compensation Account, a
Participant may submit a written request to the Committee for the distribution
of all or a portion of the Participant's Deferred Compensation Account because
of a Financial Hardship. In response thereto, the Committee shall have the
authority to determine, in its sole discretion, that payments should be made in
any manner the Committee deems appropriate, in whole or in part, on any other
date or dates in order to alleviate a Financial Hardship of a Participant.

                  6.3 DISTRIBUTIONS TO INCOMPETENTS. If the Committee determines
in its discretion that a payment under this Plan is to be made to a minor, a
person declared incompetent or to a person incapable of handling his or her
property, the Committee may direct such payment to the guardian, legal
representative or person having the care and custody of such minor, incompetent
or incapable

                                     - 6 -
<PAGE>

person. The Committee may require proof of minority, incompetence, incapacity or
guardianship, as it may deem appropriate prior to making such payment. Any such
payment shall be a payment for the account of the Participant and the
Participant's Beneficiary, as the case may be, and shall be a complete discharge
of any liability under the Plan for such payment amount.

                  6.4 COURT ORDERED DISTRIBUTIONS. The Committee is authorized
to make any payments directed by court order in any action in which the Plan or
the Committee has been named as a party. In addition, if a court determines that
a spouse or former spouse of a Participant has an interest in the Participant's
Deferred Compensation Account under the Plan in connection with a property
settlement or otherwise, the Committee, in its sole discretion, shall have the
right, notwithstanding any election made by a Participant, to immediately
distribute the spouse's or former spouse's interest in the Participant's
Deferred Compensation Account under the Plan to that spouse or former spouse.

                  6.5 CHANGE IN CONTROL DISTRIBUTIONS. At the time a Participant
completes his Deferred Compensation Agreement, the Participant may elect that,
if a Change in Control occurs, the Participant (or, in the event of the
Participant's death, his or her Beneficiary) shall receive a lump sum payment of
the amount credited to the Participant's Deferred Compensation Account within
thirty (30) days after the Change in Control. In the event such a distribution
is so elected, such amount credited to the Participant's Deferred Compensation
Account shall be determined as of the end of the calendar month immediately
preceding the month in which the Change in Control occurs, such end of the
calendar month being the Valuation Date for purposes of such distribution.

                  6.6 METHOD OF PAYMENT. Unless otherwise elected by a
Participant in a Deferred Compensation Agreement, distributions with respect to
the portion of a Participant's Deferred Compensation Account that reflect cash
deferrals (or deemed deferrals of cash) shall be paid in cash in the form of
either a single lump sum or a monthly annuity form of payment (based upon the
amount credited to the Deferred Compensation Account of a Participant) as
determined by the Committee. Distributions with respect to the portion of a
Participant's Deferred Compensation Account that reflect its Deemed Ferro Stock
Investment shall (unless otherwise determined by the Committee) be paid in a
lump sum in the form of Ferro common stock.

                  6.7 VALUATION OF DISTRIBUTIONS. All distributions under this
Plan shall be based upon the amount credited to a Participant's Deferred
Compensation Account as of the Valuation Date immediately preceding the date of
distribution. The amount of annuity payable to a Participant under Section 6.6
shall be determined by dividing the amount credited to the Participant's
Deferred Compensation Account by the remaining number of annuity payments,
including the current annuity payment, to be made on the basis of life
expectancy(ies).

                                   ARTICLE VII
                                  BENEFICIARIES

               7.1 BENEFICIARY DESIGNATION. Each Participant from time to time
may designate any person or persons (who may be named contingently or
successively) to receive such benefits as may be payable under the Plan upon or
after the Participant's death, and such designation may be changed from time to
time by the Participant by filing a new designation. Each designation will

                                     - 7 -
<PAGE>

revoke all prior designations by the same Participant, shall be in a form
prescribed by Ferro, and will be effective only when filed in writing with Ferro
during the Participant's lifetime.

               7.2 NO BENEFICIARY DESIGNATION. In the absence of a valid
Beneficiary designation, or if, at the time any Plan payment is due to a
Beneficiary, there is no living Beneficiary validly named by the Participant,
Ferro shall pay any such Plan payment to the Participant's spouse, if then
living, but otherwise to the Participant's estate. In determining the existence
or identity of anyone entitled to receive a Plan payment as aforesaid, or if a
dispute arises with respect to any such payment, then, notwithstanding the
foregoing, Ferro, in its sole discretion, may distribute such payment to the
Participant's estate without liability for any taxes or other consequences which
might flow therefrom, or may take such other action as Ferro deems to be
appropriate.

                                  ARTICLE VIII
                       FUNDING AND PARTICIPANT'S INTEREST

               8.1 PLAN UNFUNDED. This Plan shall be unfunded and no trust or
special deposit shall be created, or deemed to be created, by the Plan or Ferro.
The crediting of amounts to each Participant's Deferred Compensation Account, as
the case may be, shall be made through recordkeeping entries. No actual funds or
shares of Ferro common stock shall be segregated, reserved, or otherwise set
aside; provided, however, that nothing herein shall prevent Ferro from
establishing one or more grantor trusts from which distributions due under this
Plan may be paid in certain instances. All distributions shall be paid by Ferro
from its general assets and a Participant or his or her Beneficiary shall have
the rights of a general, unsecured creditor against Ferro for any distributions
due hereunder. The Plan constitutes a mere promise by Ferro to make payments in
the future.

               8.2. PARTICIPANT'S INTEREST IN PLAN. A Participant has an
interest only in the cash value and the number of shares of Ferro common stock
credited to his or her Deferred Compensation Account. A Participant has no
rights or interests in any specific funds, stock or securities, except to the
extent provided in Section 6.6 hereof.

                                   ARTICLE IX
                        ADMINISTRATION AND INTERPRETATION

                  9.1 ADMINISTRATION. The Plan shall be administered by the
Committee which may delegate its duties to one or more employees of Ferro. The
Committee has, to the extent appropriate and in addition to the powers described
elsewhere in this Plan, full discretionary authority to construe and interpret
the terms and provision of the Plan; to adopt, alter and repeal administrative
rules, guidelines and practices governing the Plan; to perform all acts,
including the delegation of its administrative responsibilities to advisors or
other persons who may or may not be employees of Ferro; and to rely upon the
information or opinions of legal counsel or experts selected to render advice
with respect to the Plan, as it shall deem advisable, with respect to the
administration of the Plan.

                                     - 8 -
<PAGE>

                  9.2 INTERPRETATION. The Committee may take any action, correct
any defect, supply any omission or reconcile any inconsistency in the Plan, or
in any election hereunder, in the manner and to the extent it shall deem
necessary to carry the Plan into effect or to carry out the Board's purposes in
adopting the Plan. Any decision, interpretation or other action made or taken by
the Committee arising out of or in connection with the Plan, shall be within the
absolute discretion of the Committee, and shall be final, binding and conclusive
on Ferro, and all Participants and Beneficiaries and their respective heirs,
executors, administrators, successors and assigns. The Committee's
determinations hereunder need not be uniform, and may be made selectively among
Executive Employees, whether or not they are similarly situated.

                  9.3 RECORDS AND REPORTS. The Committee shall keep a record of
proceedings and actions and shall maintain or cause to be maintained all such
books of account, records, and other data as shall be necessary for the proper
administration of the Plan. Such records shall contain all relevant data
pertaining to individual Participants and their rights under the Plan.

                  9.4 PAYMENT OF EXPENSES. Ferro shall bear all expenses
incurred by it and by the Committee in administering this Plan.

                  9.5 INDEMNIFICATION FOR LIABILITY. Ferro shall indemnify the
Committee, and the employees of Ferro to whom the Committee delegates duties
under this Plan against any and all claims, losses, damages, expenses and
liabilities arising from their responsibilities in connection with the Plan.

                  9.6 CLAIMS PROCEDURE. If a claim for benefits or for
participation under this Plan is denied in whole or in part, a Participant will
receive written notification. The notification will include specific reasons for
the denial, specific reference to pertinent provisions of this Plan, a
description of any additional material or information necessary to process the
claim and why such material or information is necessary, and an explanation of
the claims review procedure. If the Committee fails to respond within 90 days,
the claim is treated as denied.

                  9.7 REVIEW PROCEDURE. Within 60 days after the claim is denied
or, if the claim is deemed denied, within 150 days after the claim is filed, a
Participant (or his duly authorized representative) may file a written request
with the Committee for a review of his denied claim. The Participant may review
pertinent documents that were used in processing his claim, submit pertinent
documents, and address issues and comments in writing to the Committee. The
Committee will notify the Participant of its final decision in writing. In its
response, the Committee will explain the reason for the decision, with specific
references to pertinent Plan provisions on which the decision was annual based.
If the Committee fails to respond to the request for review within 60 days, the
claim is treated as denied.

                                    ARTICLE X
                            AMENDMENT AND TERMINATION

                  10.1 IN GENERAL. Subject to Section 10.2 hereof, Ferro may at
any time amend or terminate any or all of the provisions of the Plan, subject to
the following limitations:

                                     - 9 -
<PAGE>

                  (a)      The amendment will not be effective unless the Plan
                           will continue to operate for the exclusive benefit of
                           employees.

                  (b)      The amendment or termination will not adversely
                           affect the right of any Participant or Beneficiary to
                           a payment under the Plan on the basis of amounts
                           allocated to the Participant's Deferred Compensation
                           Account.

                  If the Plan is discontinued with respect to future deferrals,
amounts credited to Participants' Deferred Compensation Accounts shall be
distributed in accordance with Article VI. If the Plan is completely terminated,
each Participant shall receive distribution of amounts credited to his or her
entire Deferred Compensation Account in (i) a single lump sum cash payment (with
respect to the portion of the Deferred Compensation Account reflecting cash
deferrals or deemed deferrals of cash dividends) and (ii) a single distribution
of shares of Common Stock (with respect to the portion of the Deferred
Compensation Account reflecting deferrals of Common Stock) as of the date of the
Plan termination designated by the Board.

                  10.2 TERMINATION AFTER CHANGE IN CONTROL. Notwithstanding the
foregoing, Ferro shall not amend or terminate the Plan without the prior written
consent of all Participants for a period of two (2) calendar years following a
Change in Control.

                                   ARTICLE XI
                            MISCELLANEOUS PROVISIONS

                  11.1 INFORMATION TO BE FURNISHED BY PARTICIPANTS AND
BENEFICIARIES AND INABILITY TO LOCATE. Any communication, statement or notice
addressed to a Participant or to a Beneficiary at his last post office address
as shown on Ferro's or the Committee's records shall be binding on the
Participant or Beneficiary for all purposes of the Plan. Neither Ferro nor the
Committee shall be obliged to search for any Participant or Beneficiary beyond
the sending of a certified or registered mail letter to such last known address.
If Ferro or the Committee notifies any Participant or Beneficiary that he is
entitled to an amount under the Plan and the Participant or Beneficiary fails to
claim such amount or make his location known to Ferro or the Committee within
three (3) years thereafter, then, except as otherwise required by law, if the
location of one or more of the next of kin of the Participant is known to Ferro
or the Committee, Ferro or the Committee may direct distribution of such amount
to any one or more or all of such next of kin, and in such proportions as Ferro
or the Committee, in its sole discretion, determines. If the location of none of
the foregoing persons can be determined, Ferro or the Committee shall have the
right to direct that the amount payable shall be deemed to be a forfeiture,
except that the dollar amount of the forfeiture, unadjusted for deemed earnings
in the interim, shall be paid by Ferro if a claim for the payment subsequently
is made by the Participant or the Beneficiary to whom it was payable. If a
distribution payable to a Participant or Beneficiary that cannot be located is
subject to escheat pursuant to applicable state law, neither Ferro nor the
Committee shall be liable to any person for any payment made in accordance with
such law.

                  11.2 RIGHT OF FERRO TO TAKE EMPLOYMENT ACTIONS. The adoption
and maintenance of this Plan shall not be deemed to constitute a contract
between Ferro and any Executive Employee, or to be a consideration for, or an
inducement or condition of, the employment of any Executive Employee. Nothing
herein contained, or any action taken hereunder, shall be deemed to give an

                                     - 10 -
<PAGE>

Executive Employee the right to be retained in the employ of Ferro or to
interfere with the right of Ferro to discipline or discharge an Executive
Employee at any time, nor shall it be deemed to give to Ferro the right to
require the Executive Employee to remain in its employ, nor shall it interfere
with any rights of the Executive Employee's to terminate his or her employment
at any time.

                  11.3 NO ALIENATION OF ASSIGNMENT OF BENEFITS. A Participant's
rights and interest under the Plan shall not be assigned or transferred, either
voluntarily or by operation of law or otherwise, except as otherwise provided
herein, and the Participant's rights to payments under the Plan shall not be
subject to alienation, attachment, execution, levy, pledge or garnishment by or
on behalf of creditors (including heirs, beneficiaries, or dependents) of the
Participant or of a Beneficiary.

                  11.4 RIGHT TO WITHHOLD. To the extent required by law in
effect at the time a distribution is made from the Plan, Ferro or its agents
shall have the right to withhold or deduct from any distributions or payments
any taxes required to be withheld by federal, state or local governments.

                  11.5 CONSTRUCTION. All legal questions pertaining to the Plan
shall be determined in accordance with the laws of the State of Ohio, to the
extent such laws are not superseded by ERISA, or any other federal law.

                  11.6 HEADINGS. The headings of the Articles and Sections of
this Plan are for reference only. In the event of a conflict between a heading
and the contents of an Article or Section, the contents of the Article or
Section shall control.

                  11.7 NUMBER AND GENDER. Whenever any words used herein are in
the singular form, they shall be construed as though they were also used in the
plural form in all cases where they would so apply, and references to the male
gender shall be construed as applicable to the female gender where applicable,
and vice versa.

                  11.8 AGENT FOR LEGAL PROCESS. Ferro shall be the agent for
service of legal process with respect to any matter concerning the Plan, unless
and until Ferro designates some other person as such agent.

                  IN WITNESS WHEREOF, Ferro has executed this amended and
restated Plan document effective as of February 9, 2001.

                                             FERRO CORPORATION
                                             1000 Lakeside Avenue
                                             Cleveland, Ohio 44114-1183

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

                                             Title:
                                                    ---------------------------

                                     - 11 -

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