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                                                                    EXHIBIT 10.1

                               CABOT CORPORATION

                           1999 EQUITY INCENTIVE PLAN

     As Amended as of March 7, 2002
1.  PURPOSE

     The purpose of this 1999 Equity Incentive Plan (the "Plan") is to advance
the interests of Cabot Corporation (the "Company") and its stockholders by
enhancing the Company's ability to (a) attract and retain employees who are in a
position to make significant contributions to the success of the Company and its
subsidiaries; (b) reward employees for such contributions; and (c) encourage
employees to take into account the long-term interests of the Company and its
stockholders through ownership of shares of the Company's common stock
("Stock").

2.  ADMINISTRATION

     The Plan will be administered by the Compensation Committee or such other
committee (the "Committee") of the Board of Directors of the Company (the
"Board") as the Board may from time to time designate; provided that any
Committee administering the Plan shall consist of at least three directors and
shall not include any employees of the Company. The Committee will have
authority, not inconsistent with the express provisions of the Plan and in
addition to other authority granted under the Plan, to (a) grant awards
("Awards") and determine the terms and conditions of each Award; (b) modify or
waive, on a case by case basis, any term or condition of, or compliance by a
Participant with any obligation to be performed by him or her under, a
previously granted Award; (c) prescribe forms, rules and procedures (which it
may vary from time to time) as appropriate for the administration of the Plan;
and (d) interpret the Plan and decide any questions and settle all controversies
and disputes that may arise in connection with the Plan. Such determinations and
actions of the Committee, and all other determinations and actions of the
Committee made or taken under authority granted by any provision of the Plan,
will be conclusive and will bind all parties.

3.  EFFECTIVE DATE AND TERM OF PLAN

     The Plan originally became effective on March 11, 1999, the date on which
it was approved by the stockholders of the Company. No Award may be granted
under the Plan after the tenth anniversary of the date on which this Plan was
adopted by the Board, but Awards previously granted may extend beyond that date.

4.  SHARES SUBJECT TO THE PLAN

     Subject to adjustment as provided in Section 8.6, the maximum number of
shares of Stock that may be delivered under the Plan will be (a) 6,000,000
shares of Stock, which includes the 3,000,000 shares of Stock authorized for
delivery when the Plan was originally approved by the stockholders of the
Company; plus (b) any shares of Stock issued under the Plan and forfeited; plus
(c) without duplication for shares counted under the immediately preceding
clause, a number of shares of Stock equal to the number of shares repurchased by
the Company in the open market or otherwise and having an aggregate repurchase
price no greater than the amount of cash proceeds received by the Company from
the sale of shares of Stock under the Plan; plus (d) any shares of Stock
surrendered to the Company in payment of the exercise price of Options (as
defined in Section 6.2) issued under the Plan. However, in no event shall the
Company (a) deliver more than 6,000,000 shares of Stock under the Plan (subject
to adjustment pursuant to Section 8.6) to the officers of the Company, (b) issue
ISO's (as defined in Section 6.2(a)) under the Plan covering more than 6,000,000
shares of Stock, or (c) issue any Award under the Plan if after giving effect to
such Award the aggregate of all outstanding awards under the Plan (i.e.,
unexercised Options, unvested Restricted Stock, or other awards that remain
subject to the restrictions of the Plan) would exceed 9.9% of the total number
of shares of Stock outstanding (adjusted to include such unexercised Options,
unvested Restricted Stock, or other awards that remain subject to the
restrictions of the Plan) at the time of such award, or of the total number of
shares of Stock outstanding (as so adjusted) at any time since the Plan was
first approved by the stockholders of the Company, whichever is higher.

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     Stock delivered under the Plan may be either from authorized but unissued
Stock or from treasury shares.

5.  ELIGIBILITY AND PARTICIPATION

     Those eligible to receive Awards under the Plan will be key employees of
the Company or any of its subsidiaries ("Employees") who, in the opinion of the
Committee, are in a position to make a significant contribution to the success
of the Company or its subsidiaries. A "subsidiary" for purposes of the Plan is
an entity in which the Company owns, directly or indirectly, (a) equity
interests possessing 40% or more, but less than a majority, of the total
combined voting power of all classes of equity, and which entity the Committee
shall have determined is managed as part of one of the Company's core
businesses, or (b) equity interests possessing a majority of the total combined
voting power of all classes of equity. The Committee will from time to time
select the eligible Employees who are to be granted Awards ("Participants"), but
no Participant shall receive Awards under the Plan covering more than 1,000,000
shares of Stock (subject to adjustment pursuant to Section 8.6).

6.  TYPES OF AWARDS

     6.1.  RESTRICTED STOCK.

     (a) Nature of Restricted Stock Award.  An Award of Restricted Stock
entitles the recipient to acquire, at such time or times as the Committee may
determine, shares of Stock subject to the restrictions described in paragraph
(d) below ("Restricted Stock") for a consideration which may be either (i) any
amount which is not less than 30% of the fair market value of the Stock at the
time of grant, or (ii) an amount less than 30% of the fair market value of the
Stock at the time of grant if the Committee has expressly determined to grant
the discount in accordance with Section 6.5 or in lieu of a comparable amount of
salary or cash bonus. However, the number of shares issued at less than 30% of
the fair market value in lieu of salary or cash bonus shall be no more than
500,000 shares (subject to adjustment pursuant to Section 8.6).

     (b) Payment for Restricted Stock.  An Award of Restricted Stock may permit
the Participant to pay some or all of the purchase price thereof, or withholding
taxes to be paid by the Participant in connection therewith, in the form of a
note from the Participant on such terms as the Committee shall determine. Such
terms may include forgiveness of all or a portion of any such note upon such
conditions as the Committee may specify. However, if any portion of such a note
is to be forgiven on the sole condition that the Participant remains an Employee
for a period of time, the portion to be so forgiven shall not be counted for the
purposes of Section 6.1(a) as consideration for such Stock.

     (c) Rights as a Stockholder.  A Participant who receives Restricted Stock
will have all the rights of a stockholder with respect to the Stock, including
voting and dividend rights, subject to the restrictions described in paragraph
(d) below and any other conditions imposed by the Committee at the time of
grant.

     (d) Restrictions.  The restrictions on each grant of Restricted Stock will
lapse at such time or times, and on such conditions, as the Committee may
specify. However, not more than 5% of the shares of Stock subject to the Plan
shall be awarded with a vesting period less than 3 years from the date of grant,
or with no vesting period, or with a vesting schedule that is faster than
ratably over a three year period. Except as otherwise specifically provided by
the Plan or by the Committee in any particular case, until these restrictions
lapse, Restricted Stock may not be sold, assigned, transferred, pledged or
otherwise encumbered or disposed of, except that Restricted Stock may be pledged
as security for the purchase price thereof, or for loans used to fund any or all
of the purchase price thereof or withholding taxes paid in connection with the
purchase thereof. If the Participant ceases to be an Employee before such
restrictions have lapsed, the Company shall have the right to repurchase the
Restricted Stock for the amount of consideration (excluding services) it
received for the Stock plus, if the Committee shall so determine, an amount
equal to the withholding taxes paid in connection with the sale of the Stock, or
for such other consideration as the Committee shall determine, including for no
consideration if no consideration other than services was paid. The Committee
shall not accelerate the time at which the restrictions on all or any part of a
grant of Restricted Stock will lapse, except as the Committee may determine to
be appropriate in connection with a Participant's termination as an Employee.

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     6.2.  OPTIONS.

     (a) Nature of Options.  An "Option" is an Award entitling the recipient on
exercise thereof to purchase Stock at a specified exercise price. Both
"incentive stock options," as defined in Section 422 of the Internal Revenue
Code of 1986, as amended (the "Code"), and Options that are not incentive stock
options, may be granted under the Plan. Any Option intended to qualify as an
incentive stock option will be referred to in the Plan as an "ISO". Once an ISO
has been granted, no action by the Committee that would cause the Option to lose
its status under the Code as an incentive stock option will be effective without
the consent of the Option holder.

     (b) Exercise Price.  The exercise price of an Option will be determined by
the Committee, but except as provided in Section 6.5 the Committee shall not set
the exercise price of an Option at less than the fair market value per share of
the Stock at the time the Option is granted unless the Committee expressly
determines to grant the discount in lieu of a comparable amount of salary or
cash bonus.

     (c) Duration of Options.  The latest date on which an Option may be
exercised will be the tenth anniversary of the date the Option was granted, or
such earlier date as may have been specified by the Committee at the time the
Option was granted.

     (d) Exercise of Options.  An Option will become exercisable at such time or
times, and on such terms and conditions, as the Committee may specify. The
Committee may at any time accelerate the time at which all or any part of the
Option may be exercised.

     Any exercise of an Option must be in writing, signed by the proper person
and delivered or mailed to the Company, accompanied by (1) any documents
required by the Committee and (2) payment in full for the number of shares for
which the Option is exercised.

     6.3.  APPRECIATION RIGHTS.

     (a) Nature of Appreciation Rights.  An Appreciation Right is an Award
entitling the recipient on exercise of the Right to receive an amount, in cash
or Stock or a combination thereof (such form to be determined by the Committee),
determined in whole or in part by reference to appreciation in Stock value.

     An Appreciation Right may be either a standard Stock Appreciation Right or
a Performance Appreciation Right. A Stock Appreciation Right entitles the
Participant to receive, with respect to each share of Stock as to which the
Right is exercised, the excess of (1) the share's fair market value on the date
of exercise, increased if the Committee so provides by the value of dividends on
the Stock, over (2) its fair market value on the date the Right was granted. A
Performance Appreciation Right is a form of Stock Appreciation Right pursuant to
which the amount the recipient is entitled to receive is adjusted upward or
downward under rules established by the Committee to take into account the
performance of the Stock in comparison with the performance of other stocks or
an index of other stocks or to take into account other criteria determined by
the Committee to be appropriate to reflect the true performance of the Stock or
the Company.

     Appreciation Rights shall be exercisable at such time or times (not later
than ten years from the date of grant), and on such terms, as the Committee may
specify.

     (b) Tandem Appreciation Rights.  Appreciation Rights may be granted in
tandem with, or independently of, Options granted under the Plan. The
relationship between an Option and any Tandem Appreciation Rights shall be set
forth in the respective instrument for the Option or the Tandem Appreciation
Right or both.

     6.4.  PERFORMANCE AWARDS.

     (a) Nature of Performance Awards.  A Performance Award entitles the
recipient to receive an amount, in cash or Stock or a combination thereof (such
form to be determined by the Committee), based on one or more measures of
performance and/or the attainment of one or more performance goals. Performance
measures or goals may be related to personal performance, corporate performance,
departmental performance or any other category of performance deemed by the
Committee to be important to the success of the Company. The Committee will
determine the performance measures and/or goals, the period or periods during
which performance is to be measured and all other terms and conditions
applicable to the Award. The Committee may in its discretion, in order to
qualify an Award under Section 162(m) of the Code, or for any

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other reason, seek Stockholder approval for particular Awards, or a program
pursuant to which Awards were or are to be made, and may make any such Awards
subject to such approval.

     (b) Other Awards May be Made Subject to Performance Criteria.  The
Committee may, at the time any Award described in this Section 6 is granted,
specify one or more measures of performance and/or the attainment of one or more
performance goals to be used in determining one or more terms of the Award or
which shall be conditions to the Participant's realization of benefits under all
or a portion of the Award.

     6.5.  SUBSTITUTE AWARDS.

     In connection with any acquisition, the Committee may grant Awards to
persons who become Employees in connection with such acquisition in substitution
for equity incentives held by them in the seller or acquired entity. In such
case the Committee may set the prices and other terms of the substitute Awards
at such amounts and in such manner as may be appropriate to preserve for the
Participants the economic values of the equity incentives for which such Awards
are substitutes, or otherwise to provide such incentives as the Committee may
determine are appropriate. Any substitute Awards granted under the Plan shall
not count toward the share limitations set forth in Section 4, 6.1(a) or 6.1(d).

     6.6.  REPRICING PROHIBITION

     Except for adjustments required or permitted pursuant to Section 8.6,

     a) the Exercise Price for any outstanding Option granted under the Plan may
not be decreased after the date of grant nor may an outstanding Option granted
under the Plan be surrendered to the Company as consideration for the grant of a
new Option with a lower exercise price, and

     b) the Purchase Price for Restricted Stock may not be reduced or reimbursed
after the date of grant nor may outstanding Restricted Stock be surrendered to
the Company as consideration for a new grant of Restricted Stock at a lower
price.

7.  EVENTS AFFECTING OUTSTANDING AWARDS

     7.1.  DEATH AND DISABILITY.

     If a Participant ceases to be an Employee by reason of death or total and
permanent disability (as determined by the Committee), the following will apply:

        (a) Subject to paragraph (c) below, each Option and Appreciation Right
            held by the Participant when his or her employment ended will
            immediately become exercisable in full and will continue to be
            exercisable until the earlier of (1) the third anniversary of the
            date on which his or her employment ended, and (2) the date on which
            the Award would have terminated had the Participant remained an
            Employee. If the Participant has died, his or her Award may be
            exercised within such limits by his or her executor or administrator
            or by the person or persons to whom the Award is transferred by will
            or the applicable laws of descent and distribution (the
            Participant's "legal representative").

        (b) Subject to paragraph (c) below, each share of Restricted Stock held
            by the Participant when his or her employment ended will immediately
            become free of the restrictions.

        (c) If when the Participant's employment ended exercise of an Option or
            Appreciation Right or lapse of restrictions on Restricted Stock was
            subject to performance or other conditions (other than conditions
            relating solely to the passage of time and continued employment,
            which automatically lapse pursuant to Section 7.1(a) or (b)) which
            had not been satisfied at such time, the Committee may remove or
            modify such conditions or provide that the Participant will receive
            the benefit of the Award if and when the conditions are subsequently
            satisfied. If the Committee does not take such action, however, such
            Award will terminate as of the date on which the Participant's
            employment ended as described above.

        (d) Any payment or benefit under a Performance Award to which the
            Participant has not become irrevocably entitled will be forfeited
            and the Award canceled as of the date on which the

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            Participant's employment ended, unless otherwise provided in the
            instrument evidencing the Award or otherwise agreed to by the
            Committee.

     If a Participant dies after his or her employment has ended but while an
Award held by him or her is still exercisable, his or her legal representative
will be entitled to exercise such Award until the earlier of (1) the third
anniversary of his or her death and (2) the date on which the Award would have
terminated had the Participant remained an Employee.

     7.2.  RETIREMENT WITH COMPANY CONSENT.

     If a Participant ceases to be an Employee by reason of retirement with
Company consent (as defined in paragraph (f) below), the following will apply:

        (a) Subject to paragraphs (c) and (e) below, each Option and
            Appreciation Right held by the Participant that was granted at least
            six months prior to the date his or her employment ended due to
            retirement with Company consent will immediately become exercisable
            in full and will continue to be exercisable until the earlier of (1)
            the third anniversary of the date on which his or her employment
            ended, and (2) the date on which the Award would have terminated had
            the Participant remained an Employee. If the Participant has died,
            his or her Award may be exercised within such limits by his or her
            executor or administrator or by the person or persons to whom the
            Award is transferred by will or the applicable laws of descent and
            distribution (the Participant's "legal representative").

        (b) Subject to paragraphs (c) and (e) below, each share of Restricted
            Stock held by the Participant that was granted at least six months
            prior to the date his or her employment ended due to retirement with
            Company consent will immediately become free of the restrictions.

        (c) Subject to paragraph (e) below, if when the Participant's employment
            ended exercise of an Option or Appreciation Right or lapse of
            restrictions on Restricted Stock was subject to performance or other
            conditions (other than conditions relating solely to the passage of
            time and continued employment, which automatically lapse pursuant to
            Section 7.1(a) or (b)) which had not been satisfied at such time,
            the Committee may remove or modify such conditions or provide that
            the Participant will receive the benefit of the Award if and when
            the conditions are subsequently satisfied. If the Committee does not
            take such action, however, such Award will terminate as of the date
            on which the Participant's employment ended as described above.

        (d) Subject to paragraph (e) below any payment or benefit under a
            Performance Award to which the Participant has not become
            irrevocably entitled will be forfeited and the Award canceled as of
            the date on which the Participant's employment ended, unless
            otherwise provided in the instrument evidencing the Award or
            otherwise agreed to by the Committee.

        (e) Notwithstanding the foregoing, all Awards shall be subject to such
            terms, conditions, restrictions, and/or limitations, if any, as the
            Committee deems appropriate and the Committee in its sole discretion
            may modify or accelerate the delivery of Awards under such
            circumstances as it deems appropriate. Such provisions shall be
            included in the Award agreement entered into with each Participant
            and need not be uniform among all Awards issued pursuant to the
            Plan.

        (f) For the purposes of the Plan, "retirement with Company consent"
            shall be deemed to have occurred if the employee (i) has reached the
            age of 60 with a minimum of 15 years of service with the Company,
            (ii) agrees to enter into a non-compete, non-solicitation and
            confidentiality agreement with the Company for a period of two years
            commencing with the date of retirement, and (iii) has not been
            dismissed "for cause".

     If a Participant dies after his or her employment has ended but while an
Award held by him or her is still exercisable, his or her legal representative
will be entitled to exercise such Award until the earlier of (1) the third
anniversary of his or her death and (2) the date on which the Award would have
terminated had the Participant remained an Employee.

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     7.3  SPIN-OFF OR SALE OF COMPANY ASSETS, REDUCTION IN COMPANY'S PERCENTAGE
          OWNERSHIP OF AN ENTITY EMPLOYING THE EMPLOYEE OR TRANSFERS OF AN
          EMPLOYEE TO ENTITIES ACQUIRING ALL OR A PORTION OF THE COMPANY OR ITS
          SUBSIDIARIES.

     Notwithstanding any other provision of the Plan or of any Award, in the
event of a spin-off or sale or other disposition of a significant portion of the
Company's assets, reduction in the Company's percentage ownership of an entity
employing the employee or a transfer of an employee to entities acquiring all or
a portion of the Company or its subsidiaries except as otherwise determined by
the Committee in any particular case, the following will apply:

        (a) Each outstanding Option and Appreciation Right will immediately
            become exercisable in full.

        (b) Each outstanding share of Restricted Stock will immediately become
            free of all restrictions and conditions.

        (c) Conditions on Performance Awards which relate solely to the passage
            of time and continued employment will be removed. Performance or
            other conditions (other than conditions relating solely to the
            passage of time and continued employment) will be measured based on
            performance at the time an event covered in this section occurs
            unless otherwise provided in the instrument evidencing the Awards or
            in any other agreement between the Participant and the Company or
            unless otherwise agreed to by the Committee.

     7.4.  OTHER TERMINATION OF EMPLOYMENT.

     If a Participant ceases to be an Employee for any reason other than those
specified in Section 7.1, 7.2 and 7.3 above, except as otherwise determined by
the Committee in any particular case, the following will apply:

        (a) All Options and Appreciation Rights held by the Participant that
            were not exercisable when his or her employment ended will
            terminate. Any Awards that were so exercisable will continue to be
            exercisable until the earlier of (1) the date which is three months
            after the date on which his or her employment ended and (2) the date
            on which the Award would have terminated had the Participant
            remained an Employee.

        (b) All Restricted Stock held by the Participant must be transferred to
            the Company in accordance with Section 6.1 above.

        (c) Any payment or benefit under a Performance Award to which the
            Participant has not become irrevocably entitled will be forfeited
            and the Award canceled, unless otherwise provided in the instrument
            evidencing the Award or otherwise agreed to by the Committee.

     For purposes of this Section 7.4, an Employee's employment will not be
considered to have ended (1) in the case of sick leave or short-term disability
or other bona fide leave of absence approved for purposes of the Plan by the
Committee, so long as his or her right to reemployment is guaranteed either by
statute or by contract.

     7.5  CHANGE IN CONTROL.

     Notwithstanding any other provision of the Plan or of any Award, in the
event of a Change in Control as defined below, the following will apply:

        (a) Each outstanding Option and Appreciation Right will immediately
            become exercisable in full.

        (b) Each outstanding share of Restricted Stock will immediately become
            free of all restrictions and conditions.

        (c) Conditions on Performance Awards which relate solely to the passage
            of time and continued employment will be removed. Performance or
            other conditions (other than conditions relating solely to the
            passage of time and continued employment) will continue to apply
            unless otherwise provided in the instrument evidencing the Awards or
            in any other agreement between the Participant and the Company or
            unless otherwise agreed to by the Committee.

        (d) During the 60-day period following the Change in Control, a
            Participant holding an Option or an Appreciation Right will have the
            right (by giving written notice to the Company) to

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            surrender all or part of his or her Award to the Company and receive
            a cash payment equal to (1) the excess of the value per share of
            stock (as defined below) on the date of exercise over the exercise
            price per share, adjusted, in the case of a Performance Appreciation
            Right to take into account the performance of the Stock in
            comparison to the other stocks or index specified by the Committee,
            multiplied by (2) the number of shares subject to the surrendered
            Award. Such right will not apply to any Option as to which the
            Committee expressly excludes such right at the date of grant;
            provided, however, if (i) the Change of Control is a merger to be
            accounted for as a pooling of interest, (ii) adequate provision is
            made for all Participants to receive, in substitution for their
            Awards, awards from the surviving entity in the same form and terms
            (after giving effect to the foregoing paragraphs (a), (b) and (c))
            and with the same economic value as their Awards under the Plan, and
            (iii) the Committee, in its discretion, determines that the rights
            to receive cash payment under this paragraph (d) are not in the best
            interests of the Company, then no Participant shall have the right
            pursuant to this paragraph (d) to surrender his or her Award to the
            Company for a cash payment. As used in this paragraph with respect
            to an election by a Participant to receive cash in respect of an
            Award which is not an ISO, the term "value per share" will mean the
            higher of (i) the highest reported sales price, regular way, of a
            share of Stock on the New York Stock Exchange Composite Transactions
            Index during the 60-day period ending on the date of the Change in
            Control and (ii) if the Change in Control is the result of the
            acquisition of Stock by a "person" (as defined below), the highest
            price per share of the Stock paid by such person. In the case of an
            election by a Participant to receive cash in respect of an ISO,
            however, the term "value" will mean fair market value unless
            otherwise agreed to by the Participant.

     A "Change in Control" shall be deemed to have occurred if:

        (a) any "person" as such term is used in Sections 13(d) and 14(d) of the
            Securities Exchange Act of 1934 (the "1934 Act") (other than (i) the
            Company, (ii) any subsidiary of the Company, (iii) any trustee or
            other fiduciary holding securities under an employee benefit plan of
            the Company or of any subsidiary of the Company, or (iv) any company
            owned, directly or indirectly, by the stockholders of the Company in
            substantially the same proportions as their ownership of stock of
            the Company), is or becomes the "beneficial owner" (as defined in
            Section 13(d) of the 1934 Act), together with all affiliates and
            Associates (as such terms are used in Rule 12b-2 of the General
            Rules and Regulations under the 1934 Act) of such person, directly
            or indirectly, of securities of the Company representing 25% or more
            of the combined voting power of the Company's then outstanding
            securities;

        (b) the stockholders of the Company approve a merger or consolidation of
            the Company with any other company, other than (1) a merger or
            consolidation which would result in the voting securities of the
            Company outstanding immediately prior thereto continuing to
            represent (either by remaining outstanding or by being converted
            into voting securities of the surviving entity), in combination with
            the ownership of any trustee or other fiduciary holding securities
            under an employee benefit plan of the Company or any subsidiary of
            the Company, at least 65% of the combined voting power of the voting
            securities of the Company or such surviving entity outstanding
            immediately after such merger or consolidation or (2) a merger or
            consolidation effected to implement a recapitalization of the
            Company (or similar transaction) after which no "person" (with the
            method of determining "beneficial ownership" used in clause (a) of
            this definition) owns more than 25% of the combined voting power of
            the securities of the Company or the surviving entity of such merger
            or consolidation; or

        (c) during any period of two consecutive years (not including any period
            prior to the execution of the Plan), individuals who at the
            beginning of such period constitute the Board, and any new director
            (other than a director designated by a person who has conducted or
            threatened a proxy contest, or has entered into an agreement with
            the Company to effect a transaction described in clause (a), (b) or
            (d) of this definition) whose election by the Board or nomination
            for election by the Company's stockholders was approved by a vote of
            at least two-thirds (2/3) 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 thereof; or

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        (d) the stockholders of the Company approve a plan of complete
            liquidation of the Company or an agreement for the sale or
            disposition by the Company of all or substantially all of the
            Company's assets.

     7.6  MERGERS, CONSOLIDATIONS, ETC.

     In the event of a merger or consolidation in which the Company is not the
surviving corporation or which results in the acquisition of substantially all
the Company's outstanding Stock by a single person or entity or by a group of
persons or entities acting in concert, or in the event of sale or transfer of
all or substantially all of the Company's assets (a "covered transaction"), all
outstanding Options and Appreciation Rights may be terminated by the Board as of
the effective date of the covered transaction, subject to the following: if the
covered transaction follows a Change in Control or would give rise to a Change
in Control, no Option or Appreciation Right will be terminated (without the
consent of the Participant) prior to the expiration of 20 days following the
later of (i) the date on which the Award became fully exercisable and (ii) the
date on which the Participant received written notice of the covered
transaction.

8.  GENERAL PROVISIONS

     8.1.  DOCUMENTATION OF AWARDS.

     Awards will be evidenced by written instruments prescribed by the Company
from time to time. Such instruments may be in the form of agreements, to be
executed by both the Participant and the Company, or certificates, letters or
similar instruments, which need not be executed by the Participant but
acceptance of which will evidence agreement to the terms thereof and hereof.

     8.2.  RIGHTS AS A STOCKHOLDER; DIVIDEND EQUIVALENTS.

     Except as specifically provided by the Plan, the receipt of an Award will
not give a Participant rights as a stockholder; the Participant will obtain such
rights, subject to any limitations imposed by the Plan or the instrument
evidencing the Award, upon actual receipt of Stock. However, the Committee may,
on such conditions as it deems appropriate, provide that a Participant will
receive a benefit in lieu of cash dividends that would have been payable on any
or all Stock subject to the Participant's Award had such Stock been outstanding.
Without limitation, the Committee may provide for payment to the Participant of
amounts representing such dividends, either currently or in the future, or for
the investment of such amounts on behalf of the Participant.

     8.3.  CONDITIONS ON DELIVERY OF STOCK.

     The Company will not be obligated to deliver any shares of Stock pursuant
to the Plan or to remove any restriction from shares previously delivered under
the Plan (a) until all conditions of the Award have been satisfied or removed,
(b) until, in the opinion of the Company's counsel, all applicable federal and
state laws and regulations have been complied with, (c) if the outstanding Stock
is at the time listed on any stock exchange, until the shares to be delivered
have been listed or authorized to be listed on such exchange upon official
notice of notice of issuance, and (d) until all other legal matters in
connection with the issuance and delivery of such shares have been approved by
the Company's counsel. If the sale of Stock has not been registered under the
Securities Act of 1933, as amended, the Company may require, as a condition to
exercise of the Award, such representations or agreements as counsel for the
Company may consider appropriate to avoid violation of such Act and may require
that the certificates evidencing such Stock bear an appropriate legend
restricting transfer.

     8.4.  TAX WITHHOLDING.

     The Company will withhold from any payment made pursuant to an Award an
amount sufficient to satisfy all federal, state and local withholding tax
requirements (the "withholding requirements").

     In the case of an Award pursuant to which Stock may be delivered, the
Committee will have the right to require that the Participant or other
appropriate person remit to the Company an amount sufficient to satisfy the
withholding requirements, or make other arrangements satisfactory to the
Committee with regard to such requirements, prior to the delivery of any Stock.
If and to the extent that such withholding is required, the

                                       8
<PAGE>

Committee may permit the Participant or such other person to elect at such time
and in such manner as the Committee provides to have the Company hold back from
the shares to be delivered, or to deliver to the Company, Stock having a value
calculated to satisfy the withholding requirement.

     If at the time an ISO is exercised the Committee determines that the
Company could be liable for withholding requirements with respect to a
disposition of the Stock received upon exercise, the Committee may require as a
condition of exercise that the person exercising the ISO agree (a) to inform the
Company promptly of any disposition of Stock received upon exercise, and (b) to
give such security as the Committee deems adequate to meet the potential
liability of the Company for the withholding requirements and to augment such
security from time to time in any amount reasonably deemed necessary by the
Committee to preserve the adequacy of such security.

     8.5.  NONTRANSFERABILITY OF AWARDS.

     Except as otherwise specifically provided by the Committee, no Award may be
transferred other than by will or by the laws of descent and distribution, and
during a Participant's lifetime an Award requiring exercise may be exercised
only by him or her (or in the event of incapacity, the person or persons
properly appointed to act on his or her behalf).

     8.6.  ADJUSTMENTS IN THE EVENT OF CERTAIN TRANSACTIONS.

        (a) In the event of a stock dividend, stock split or combination of
            shares, recapitalization or other change in the Company's
            capitalization, or other distribution with respect to common
            stockholders other than normal cash dividends, the Committee will
            make any appropriate adjustments to the maximum number of shares
            that may be delivered under the Plan under Section 4 above.

        (b) In any event referred to in paragraph (a) the Committee will also
            make any appropriate adjustments to the number and kind of shares of
            stock or securities subject to Awards then outstanding or
            subsequently granted, any exercise prices relating to Awards and any
            other provisions of Awards affected by such change. The Committee
            may also make such adjustments to take into account material changes
            in law or in accounting practices or principles, mergers,
            consolidations, acquisitions, dispositions, repurchases or similar
            corporate transactions, or any other event, if it is determined by
            the Committee that adjustments are appropriate to avoid distortion
            in the operation of the Plan, but no such adjustments other than
            those required by law may adversely affect the rights of any
            Participant (without the Participant's consent) under any Award
            previously granted.

     8.7.  EMPLOYMENT RIGHTS.

     Neither the adoption of the Plan nor the grant of Awards will confer upon
any person any right to continued employment with the Company or any subsidiary
or affect in any way the right of the Company or subsidiary to terminate an
employment relationship at any time. Except as specifically provided by the
Committee in any particular case, the loss of existing or potential profit in
Awards granted under the Plan will not constitute an element of damages in the
event of termination of an employment relationship even if the termination is in
violation of an obligation of the Company to the Employee.

     8.8.  DEFERRAL OF PAYMENTS.

     The Committee may agree at any time, upon request of the Participant, to
defer the date on which any payment under an Award will be made.

     8.9.  PAYMENT FOR STOCK; LOANS.

     Stock purchased from the Company under this Plan either as Restricted Stock
or on exercise of an Option may be paid for with such legal consideration as the
Committee may determine. If and to the extent authorized by the Committee, the
Company may permit Participants to pay for Stock with promissory notes, and may
make loans to Participants of all or a portion of any withholding taxes to be
paid in connection with

                                       9
<PAGE>

the grant, exercise or vesting of any Award. Any such extensions of credit may
be secured by Stock or other collateral, or may be made on an unsecured basis,
as the Committee may determine.

9.  DISCONTINUANCE, CANCELLATION, AMENDMENT AND TERMINATION

     The Committee may at any time discontinue granting Awards under the Plan.
The Board may at any time or times amend the Plan or any outstanding Award for
any purpose which may at the time be permitted by law, or may at any time
terminate the Plan as to any further grants of Awards, provided that (except to
the extent expressly required or permitted by the Plan) no such amendment will,
without the approval of the stockholders of the Company, (a) increase the
maximum number of shares available under the Plan, (b) extend the time within
which Awards may be granted, (c) permit the repricing of outstanding Options or
unvested Restricted Stock, or (d) amend the provisions of this Section 9, and no
amendment or termination of the Plan may adversely affect the rights of any
Participant (without his or her consent) under any Award previously granted.

                                       10<PAGE>
                                                                     EXHIBIT 4.8

                          FIRST SUPPLEMENTAL INDENTURE

     First Supplemental Indenture effective as of November 20, 1998, to the
Indenture (the "Indenture"), dated as of November 20, 1998, each by and between
Fisher Scientific International Inc., a Delaware corporation, as Issuer (the
"Issuer"), and State Street Bank and Trust Company, a Massachusetts trust
company, as Trustee, (the "Trustee"). Capitalized but undefined terms used
herein shall have the meanings set forth in the Indenture.

                                    RECITALS

     WHEREAS, Section 9.1(1) of the Indenture permits the Indenture to be
amended without consent of holders to cure any ambiguity, omission, defect or
inconsistency upon satisfaction of certain conditions;

     WHEREAS, the Issuer and Trustee desire to amend certain language contained
in the Indenture for the purpose of curing a defect;

     WHEREAS, all conditions in Section 9.1 for the amendment of the Indenture
has been satisfied.

     NOW THEREFORE:

SECTION 1. AMENDMENT TO SECTION 4.11 AND SECTION 1.1

1.   The reference to clause (ii) of the definition of "Permitted Indebtedness"
     in the first sentence in Section 4.11 shall be changed to clause (iii) so
     that the first sentence of Section 4.11 shall read as follows:

          "The Company will not permit any of its Restricted Subsidiaries,
          directly or indirectly, to guarantee the payment of any Indebtedness
          of the Company, other than guarantees incurred pursuant to clause
          (iii) of the definition of "Permitted Indebtedness" unless such
          Restricted Subsidiary, the Company and the Trustee execute and deliver
          a supplemental indenture evidencing such Restricted Subsidiary's
          guarantee of the Securities (a "Guarantee"), such Guarantee to be a
          senior subordinated unsecured obligation of such Restricted
          Subsidiary; provided that if any Subsidiary Guarantor is released from
          its guarantee with respect to Indebtedness outstanding under the New
          Credit Facility and all other Indebtedness of the Company, such
          Subsidiary Guarantor shall automatically be released from its
          obligations as a Subsidiary Guarantor."
<PAGE>

2.   The reference to clause (xii) in paragraph (iii) of the definition of
     "Permitted Liens" shall be changed to clause (xi) so that paragraph (iii)
     of the definition of "Permitted Liens" shall read as follows:

          (iii) "Liens existing on the Issue Date, together with any Liens
          securing Indebtedness incurred in reliance on clause (xi) of the
          definition of Permitted Indebtedness in order to refinance the
          Indebtedness secured by Liens existing on the Issue Date; provided
          that the Liens securing the refinancing Indebtedness shall not extend
          to property other than that pledged under the Liens securing the
          Indebtedness being refinanced;"

SECTION 2. MICELLANEOUS

               Section 2.1 INCORPORATION OF INDENTURE. All the provisions of
this First Supplemental Indenture shall be deemed to be incorporated in, and
made a part of, the Indenture; and the Indenture, as supplemented and amended by
this First Supplemental Indenture, shall be read, taken and consstrued as one
and the same instrument.

               Section 2.2 APPLICATION OF FIRST SUPPLEMENTAL INDENTURE. The
provisions and benefit of this First Supplemental Indenture shall be effective
with respect to the Securities.

               Section 2.3 COUNTERPARTS. This First Supplemental Indenture may
be executed in any number of counterparts, each of which so executed shall be
deemed to be an original, but all such counterparts shall together constitute
but one and the same instrument.

               Section 2.4 CONFLICT WITH TRUST INDENTURE ACT. If any provision
hereof limits, qualifies or conflicts with another provision hereof which is
required to be included in this First Supplemental Indenture by any of the
provisions of the Trust Indenture Act, such required provision shall control.

               Section 2.5 SUCCESSORS AND ASSIGNS. All agreements in this First
Supplemental Indenture by the Issuer shall bind its successors and assigns,
whether so expressed or not.

               Section 2.6 SEPARABILITY CLAUSE. In case any provision in this
First Supplemental Indenture shall be invalid, illegal or unenforceable, the
validity, legality and enforceability of the remaining provisions shall not in
any way be affected or impaired thereby.

               Section 2.7 BENEFITS OF FIRST SUPPLEMENTAL INDENTURE. Nothing in
this First Supplemental Indenture, express or implied, shall give to any person,
other than the parties hereto and their successors hereunder and the Holders,
any benefit or any legal or equitable right, remedy or claim under this First
Supplemental Indenture.

                                       2
<PAGE>

               Section 2.8 REGARDING THE TRUSTEE. The Trustee shall not be
responsible for the correctness of the recitals herein, and makes no
representation as to the validity or the sufficiency of this First Supplemental
Indenture. The Trustee shall, in connection with this First Supplemental
Indenture, be entitled to all of the benefits of all of the rights, privileges,
immunities and indemnities of the Trustee provided for in the Indenture.

                                       3
<PAGE>

     IN WITNESS WHEREOF, the parties hereto have caused this First Supplemental
Indenture to be duly executed on April 23, 2002, to be effective as of the day
and year first above written.

                              FISHER SCIENTIFIC INTERNATIONAL INC.

                              By: /s/ Kevin P. Clark
                                 ----------------------------------------
                                  Name:  Kevin P. Clark
                                  Title: Vice President and Chief
                                         Financial Officer

                              STATE STREET BANK AND TRUST COMPANY
                              Trustee

                              By: /s/ Philip G. Kane, Jr.
                                 ----------------------------------------
                                 Name:  Philip G. Kane, Jr.
                                 Title: Vice President

                                       4

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