Document:

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                                                                    EXHIBIT 10.6

                             FMC TECHNOLOGIES, INC.
                        DEFINED BENEFIT RETIREMENT TRUST

         THIS AGREEMENT, effective as of the 1st day of November, 2001,
("Effective Date") is made between FMC TECHNOLOGIES, INC., a Delaware
corporation, herein referred to as the "Company", and THE NORTHERN TRUST
COMPANY, an Illinois corporation, of Chicago, Illinois, as Trustee, and the FMC
TECHNOLOGIES, INC. DEFINED BENEFIT RETIREMENT TRUST is hereby established as the
funding medium for the FMC Technologies, Inc. Employees' Retirement Program,
hereinafter referred to as the "Plan", and under which the Trustee is accepting
appointment as trustee. The Plan was established on May 1, 2001 with the FMC
Corporation Defined Benefit Retirement Trust ("FMC Trust") as the funding medium
for the Plan, and the FMC Trust continued to be the funding medium for the Plan
until the Effective Date of this Agreement.

         The Company has appointed the Employee Welfare Benefit Plans Committee,
hereinafter referred to as the "Committee", as the Plan fiduciary which has the
responsibility for administering the Plan. The Committee has appointed the
Pension Investment Subcommittee of the Committee as the Plan fiduciary which has
the responsibility for Plan investments.

         The Trust Fund shall consist of all assets held by the Trustee as of
the date of this Agreement, all investments and reinvestments thereof and all
additions thereto by way of contributions, earnings and increments; is intended
to constitute a qualified trust as defined under Section 401(a) of the Code and
is entitled to tax exemption under Section 501(a) of the Code; shall at all
times be maintained as a domestic trust in the United States; and shall be held
upon the following terms:

                            ARTICLE ONE: DEFINITIONS

         For the purposes of this Agreement:

         1.1   "Beneficiary" means a person designated to receive a benefit
under the Plan after the death of a Participant;

         1.2   "Code" means the Internal Revenue Code of 1986, as in effect from
 time to time, and the regulations issued thereunder;

         1.3   "Committee" means the Employee Welfare Benefit Plans Committee as
constituted from time to time which has the responsibility for administering the
Plan and shall be deemed for purposes of ERISA to be the Plan administrator and
the named fiduciary for Plan administration or any designee thereof authorized
to act on behalf of the Committee;

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     1.4 "Company" means FMC Technologies, Inc. and any successor to it;

     1.5 "Company Stock" means common stock of the Company;

     1.6 "Company Stock Account" means a Separate Account subject to the
investment responsibility of the Committee as set forth in Section 5.5 hereof;

     1.7 "Custodial Agent" means one or more persons or entities designated by
the Investment Subcommittee to maintain custody of assets of a Separate
Investment Account pursuant to Section 3.1(c);

     1.8 "ERISA" means the Employee Retirement Income Security Act of 1974, as
in effect from time to time, and the regulations issued thereunder;

     1.9 "Investment Adviser" means an Investment Manager or an Investment
Trustee to whom the Investment Subcommittee has delegated investment
responsibility for a Separate Account or the Investment Committee with respect
to any assets of the Trust Fund for which the Investment Committee has
investment responsibility;

     1.10 "Investment Subcommittee" means the Pension Investment Subcommittee of
the Committee as constituted from time to time which has the responsibility for
allocating the assets of the Trust Fund among the Separate Accounts and any
Trustee Investment Account, for monitoring the diversification of the
investments of the Trust Fund, for determining the propriety of investment of
the Trust Fund in foreign securities and of maintaining the custody of foreign
investments abroad, for assuring that the Plan does not violate any provisions
of ERISA limiting the acquisition or holding of "employer securities" or
"employer real property" and for the appointment and removal of Investment
Advisers and shall be deemed for purposes of ERISA to be the named fiduciary for
Plan investments;

     1.11 "Investment Manager" means an investment manager as defined in Section
3(38) of ERISA, which is appointed by the Investment Subcommittee to manage a
Separate Investment Account; but the Trustee shall have no responsibility to
determine whether a person or entity acting as an Investment Manager meets or
continues to meet this definition;

     1.12 "Investment Trustee" means the trustee appointed by the Investment
Subcommittee to manage a Separate Investment Trust Account;

     1.13 "Participant" means a person who is a current, retired or former
employee and who has rights in the Plan;

     1.14 "Plan" means the FMC Technologies, Inc. Employees' Retirement Program;

     1.15 "Separate Account" means a Separate Investment Account, a Separate
Investment Trust Account or a Separate Insurance Contract Account;

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         1.16  "Separate Insurance Contract Account" means assets of the Trust
Fund allocated by the Investment Subcommittee to an account of the Trust for
investment in insurance contracts directed by the Investment Subcommittee;

         1.17  "Separate Investment Account" means assets of the Trust Fund
allocated by the Investment Subcommittee to an account of the Trust which is to
be managed by an Investment Manager or the Investment Subcommittee;

         1.18  "Separate Investment Trust Account" means assets of the Trust
Fund allocated by the Investment Subcommittee to a Separate Account to be
managed by an Investment Trustee;

         1.19  "Subsidiary" means a subsidiary or affiliate of the Company;

         1.20  "Subtrust" means assets of a Separate Investment Account which
are held by a Subtrustee pursuant to an agreement which the Investment
Subcommittee has approved and directed the Trustee to enter into;

         1.21  "Subtrustee" means the trustee appointed by the Investment
Subcommittee to act as trustee of a Subtrust;

         1.22  "Trust" means the qualified defined benefit retirement trust
evidenced hereby, as amended from time to time;

         1.23  "Trust Fund" means all assets subject to this Agreement;

         1.24  "Trustee" means The Northern Trust Company and any successor to
it as trustee or trustees of the Trust Fund under this Agreement; and

         1.25  "Trustee Investment Account" means assets of the Trust Fund
allocated by the Investment Subcommittee to an account of the Trust to be
managed by the Trustee with the written consent of the Trustee.

                           ARTICLE TWO: DISTRIBUTIONS

         2.1   The Trustee shall make distributions from the Trust Fund to such
persons, in such amounts, at such times and in such manner as the Committee or
its designee shall from time to time direct pursuant to the service description
furnished by the Trustee to the Committee from time to time. The Trustee shall
have no responsibility to ascertain whether any direction received by the
Trustee from the Committee or its designee in accordance with the preceding
sentence is proper and in compliance with the terms of the Plan or to see to the
application of any distribution. The Trustee shall not be liable for any
distribution made in accordance with any direction from the Committee or its
designee in accordance with the first sentence hereof and in good faith without
actual notice or knowledge of the changed condition

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or status of any recipient. If any distribution made by the Trustee is returned
unclaimed, the Trustee shall notify the Committee or its designee and shall
dispose of the distribution as the Committee or its designee shall direct. The
Trustee shall have no obligation to search for or ascertain the whereabouts of
any payee of benefits of the Trust Fund.

         2.2   Notwithstanding the foregoing, the Committee may make
distributions from the Trust Fund through a commercial banking account in a
federally insured banking institution (including the Trustee) established by the
Committee in the name of the Trust for such purpose after written notice to the
Trustee that the commercial banking account has been so established. Upon such
written notice, the Committee shall have the responsibility to assure that any
such commercial banking account is established and maintained in accordance with
ERISA and is properly insured. The Trustee shall make such deposits of portions
of the Trust Fund to the commercial banking account as the Committee or its
designee may from time to time direct. The Trustee shall have no further
responsibility for funds held in or disbursed from any such commercial banking
account, or to prepare any informational returns for tax purposes as to
distributions made therefrom.

                 ARTICLE THREE: SEPARATE ACCOUNTS AND INVESTMENT
                             SUBCOMMITTEE ADVISORS

         3.1   The Trust Fund shall consist of one or more Separate Accounts
and, with the Trustee's written consent, one or more Trustee Investment
Accounts. All Separate Accounts and any Trustee Investment Accounts shall be
established by the Trustee at the direction of the Investment Subcommittee. The
Investment Subcommittee shall designate assets of the Trust Fund to be allocated
to each Separate Account and each Trustee Investment Account and shall direct
the Trustee with respect to any transfer of assets between Separate Accounts or
between a Separate Account and a Trustee Investment Account; provided that no
asset shall be allocated or transferred to a Trustee Investment Account without
the Trustee's written consent. The Investment Subcommittee shall have investment
responsibility for any assets of the Trust Fund not otherwise allocated to a
Separate Account or Trustee Investment Account, and such assets shall comprise a
Separate Investment Account for which the Investment Subcommittee serves as
Investment Adviser. The following provisions shall apply to the Separate
Accounts:

         3.2   With respect to each Separate Investment Account, the Investment
Subcommittee may appoint an Investment Manager, who shall acknowledge by a
writing delivered to the Investment Subcommittee and to the Trustee that it is a
fiduciary with respect to the assets allocated thereto, or in the event the
Investment Subcommittee does not appoint an Investment Manager, the Investment
Subcommittee shall have investment responsibility with respect to such Separate
Investment Account. The Trustee shall act with respect to assets allocated to a
Separate Investment Account only as directed by the Investment Manager or, in
the event that the Investment Subcommittee does not appoint an Investment
Manager, the Investment Subcommittee. The Investment Subcommittee may direct
that any or all of the assets of a Separate Investment Account be held by a
Subtrustee. The Trustee shall have

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custody of and custodial responsibility for all assets of the Trust Fund held in
a Separate Investment Account except as otherwise provided in this Agreement or
as follows:

               (a) The Subtrustee of a Subtrust shall have custody of and
         custodial responsibility for any assets of a Separate Investment
         Account allocated to it by the Investment Subcommittee;

               (b) The trustee of a collective or group trust fund (including
         without limitation an Investment Manager or its bank affiliate) shall
         have custody of and custodial responsibility for any assets of a
         Separate Investment Account invested in such collective or group trust
         fund; and

               (c) The Investment Subcommittee may direct in writing that the
         custody of additional assets of a Separate Investment Account (other
         than those referred to in paragraphs (a) and (b) of this Section 3.2)
         be maintained with a Custodial Agent. In such event, the Investment
         Subcommittee shall approve, and direct the Trustee to enter into, a
         custody agreement with the Custodial Agent (which custody agreement may
         authorize the Custodial Agent to maintain custody of such assets with
         one or more subagents, including a broker or dealer registered under
         the Securities Exchange Act of 1934 or a nominee of such broker or
         dealer). The Custodial Agent shall have custodial responsibility for
         any assets maintained with the Custodial Agent or its subagents
         pursuant to the custody agreement. Notwithstanding any other provision
         of this Agreement, the Company (which has the authority to do so under
         the laws of its state of incorporation) agrees to indemnify the Trustee
         from any liability, loss and expense, including reasonable legal fees
         and expenses, which the Trustee sustains by reason of acting in
         accordance with any directions of the Investment Committee pursuant to
         this paragraph (c). This paragraph shall survive the termination of
         this Agreement.

         3.3   With respect to each Separate Investment Trust Account, the
Trustee and the Investment Trustee thereof shall upon the direction of the
Investment Subcommittee execute an investment trust agreement with respect
thereto. The Investment Trustee shall have custody of all of the assets of the
Separate Investment Trust Account except such assets as the Investment
Subcommittee may from time to time determine shall be held in the custody of the
Trustee with the Trustee's written consent; the Trustee shall act with respect
to any such assets in its custody only as directed by the Investment Trustee.

         3.4   With respect to each Separate Insurance Contract Account, from
assets allocated thereto, the Trustee shall purchase or continue in effect such
insurance contracts, including annuity contracts and policies of life insurance,
as the Investment Subcommittee shall direct, the issuing insurance company may
credit those assets to its general account or to one or more of its separate
accounts, and the Trustee shall act with respect to those contracts only as
directed by the Investment Subcommittee.

         3.5   The Investment Subcommittee shall have investment responsibility
for assets held in any Separate Account for which an Investment Manager or
Investment Trustee has not

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been retained, has been removed, or is for any reason unwilling or unable to
act. With respect to assets or Separate Accounts for which the Investment
Subcommittee has investment responsibility, the Trustee, acting only as directed
by the Investment Subcommittee, shall enter into such agreements as are
necessary to facilitate any investment, including agreements entering into a
limited partnership, Subtrust or the participation in real estate funds. The
Trustee shall not make any investment review of, or consider the propriety of
holding or selling, or vote any assets for which the Investment Subcommittee has
investment responsibility.

         3.6   With respect to each Separate Account, the Investment Adviser
thereof shall have the investment powers granted to the Trustee by ARTICLE FOUR,
as limited by Section 5.1 through Section 5.3 of ARTICLE FIVE, as if all
references therein to the Trustee referred to the Investment Adviser.

         3.7   The Investment Subcommittee may also direct the Trustee as
fiduciary to lend securities of the Trust Fund held by the Trustee by entering
into a written agreement with the Trustee. The terms of the agreement between
the Investment Subcommittee and the Trustee shall be consistent with Department
of Labor Prohibited Transaction Exemption 81-6 or any successor exemption. The
written agreement between the Investment Subcommittee and the Trustee shall
direct the Trustee to enter into a loan agreement with a borrower or borrowers.
The Trustee shall transfer securities to the borrower and invest or hold on
behalf of the Trust Fund the collateral received in exchange for the securities.
Notwithstanding anything in this Agreement to the contrary, the borrower shall
have the authority and responsibility to vote securities it has borrowed. The
Trustee shall maintain a record of the market value of the loaned securities and
shall be paid reasonable compensation as agreed to by the Trustee and the
Investment Subcommittee.

         3.8   The Investment Subcommittee may direct the Trustee to: (i) enter
into such agreements as are necessary to implement investment in futures
contracts and options on futures contracts; (ii) transfer initial margin to a
futures commission merchant or third party safekeeping bank pursuant to
directions from an Investment Adviser and (iii) pay or demand variation margin
in accordance with industry practice to or from such futures commission merchant
based on daily marking to market calculations. The Trustee shall have no
investment or custodial responsibility with respect to assets transferred to a
futures commission merchant or third party safekeeping bank.

                         ARTICLE FOUR: POWERS OF TRUSTEE

         Except as otherwise provided in this Agreement, the Trustee shall hold,
manage, care for and protect the assets of the Trust Fund and shall have until
actual distribution thereof the following powers and, except to the extent
inconsistent herewith, those now or hereafter conferred by law:

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         4.1   To retain any asset originally included in the Trust Fund or
subsequently added thereto;

         4.2   To invest and reinvest the assets without distinction between
income and principal in property of any kind, without restriction, including
options, futures contracts, and options on futures contracts.

         4.3   To acquire and hold qualifying employer securities and qualifying
employer real property, as such investments are defined in Section 407(d) of
ERISA;

         4.4   To deposit any part or all of the assets with the Trustee or its
affiliate as trustee, or another person or entity acting as trustee of any
collective or group trust fund which is now or hereafter maintained as a medium
for the collective investment of funds of pension, profit sharing or other
employee benefit plans, and which is qualified under Section 401(a) of the Code
and exempt from taxation under Section 501(a) of the Code, and to withdraw any
part or all of the assets so deposited; any assets deposited with the trustee of
a collective or group trust fund shall be held and invested by the trustee
thereunder pursuant to all the terms and conditions of the trust agreement or
declaration of trust establishing the fund, which are hereby incorporated herein
by reference and shall prevail over any contrary provision of this Agreement;
provided, however, that the books and records of the Trustee shall at all times
show that all such investments are part of the Trust Fund;

         4.5   To deposit cash in any depository, including the banking
department of the Trustee or its affiliate and any organization acting as a
fiduciary with respect to the Trust Fund;

         4.6   To hold any part of the assets in cash without liability for
interest as the Trustee deems reasonable or necessary pending investment thereof
or the payment of expenses or making of distributions therewith;

         4.7   To cause any asset, real or personal, to be held in a corporate
depository or federal book entry account system or registered in the Trustee's
name or in the name of a nominee or in such other form as the Trustee deems best
without disclosing the trust relationship; provided, however, that the books and
records of the Trustee shall at all times show that all such investments are
part of the Trust Fund;

         4.8   Other than with respect to Company stock, to vote, either in
person or by general or limited proxy, or refrain from voting, any corporate
securities for any purpose; to exercise or sell any subscription or conversion
rights; to consent to and join in or oppose any voting trusts, reorganizations,
consolidations, mergers, foreclosures and liquidations and in connection
therewith to deposit securities and accept and hold other property received
therefor;

         4.9   Subject to Section 5.5 of this Agreement, with respect to Company
stock, to vote, either in person or by general or limited proxy, or refrain from
voting any Company

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stock for any purpose; to exercise or sell any subscription or conversion
rights; to consent to and join in or oppose any voting trusts, reorganizations,
consolidations, mergers, foreclosures and liquidations and in connection
therewith to deposit securities and accept and hold other property received
therefor; to give general or special proxies or powers of attorney with or
without the power of substitution; and to generally exercise any of the powers
of an owner with respect to such Company stock;

         4.10  At the direction of the Investment Subcommittee, to lease any
assets for any period of time though commencing in the future or extending
beyond the term of the trust;

         4.11  To borrow money from any lender in order to complete transactions
in cases where adequate funds may not otherwise be available to the Trust Fund,
and, at the direction or with the consent of the Investment Subcommittee, to
borrow money from any lender for any other purpose that as set forth above, to
extend or renew any existing indebtedness and to mortgage or pledge any assets;

         4.12  To sell at public or private sale, contract to sell, convey,
exchange, transfer and otherwise deal with the assets in accordance with
industry practice, and to sell put and covered call options from time to time
for such price and upon such terms as the Trustee sees fit; the Company
acknowledges that the Trustee may reverse any credits made to the Trust Fund by
the Trustee prior to receipt of payment in the event that payment is not
received;

         4.13  To employ agents, attorneys-in-fact and proxies and to delegate
to any one or more of them any power, discretionary or otherwise, granted to the
Trustee at the Trustee's expense without any cost to the Company or the Trust
Fund unless such expense is authorized under Section 9.6 hereof, or the Company
agrees in writing to bear such expense;

         4.14  Upon giving the Committee 30 days prior written notice, to
compromise, contest, prosecute or abandon claims in favor of or against the
Trust Fund;

         4.15  To appoint foreign custodians as agent of the Trustee to custody
foreign securities holdings of any Separate Account established by the
Investment Subcommittee or of any Trustee Investment Account.

         4.16  To lend securities held by the Trustee and to receive and invest
collateral provided by the borrower, all pursuant to a written agreement between
the Trustee and the Investment Subcommittee;

         4.17  To utilize any tax refund claim procedures with respect to taxes
withheld to which the Trust Fund may be entitled under applicable tax laws,
treaties and regulations; any exercise of such power by the Trustee shall be on
a best efforts basis; and

         4.18  To perform other acts necessary or appropriate for the proper
administration of the Trust Fund, execute and deliver necessary instruments and
give full receipts and discharges.

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                       ARTICLE FIVE: LIMITATIONS ON POWERS

         For purposes of this Agreement, the powers and responsibilities
allocated to the Trustee shall be limited as follows:

         5.1 The powers of the Trustee shall be exercisable for the exclusive
purpose of providing benefits to the Participants and Beneficiaries under the
Plan and in accordance with the standards of a prudent man under ERISA;

         5.2 Subject to Section 5.1 and Section 5.3, the Trustee shall diversify
the investments of that portion of the Trust Fund for which it has investment
responsibility so as to minimize the risk of large losses;

         5.3 Subject to Section 5.1, the Trustee shall, with respect to that
portion of the Trust Fund for which it has investment responsibility, follow the
investment guidelines established by the Investment Subcommittee;

         5.4 Except as otherwise provided in Section 3.7, the Trustee shall not
make any investment review of, consider the propriety of holding or selling, or
vote other than as directed by the Investment Adviser, any assets of the Trust
Fund allocated to a Separate Account in accordance with ARTICLE THREE, except
that if the Trustee shall not have received contrary instructions from the
Investment Adviser thereof, the Trustee shall invest for short term purposes any
cash consisting of U. S. dollars of a Separate Account in its custody in bonds,
notes and other evidences of indebtedness having a maturity date not beyond five
years from the date of purchase, U.S. Treasury bills, commercial paper, bankers'
acceptances and certificates of deposit, and undivided interests or
participations therein and (if subject to withdrawal on a daily or weekly basis)
participations in common or collective funds composed thereof and regulated
investment companies (including those for which the Trustee or any of its
affiliates acts as advisor). For currencies other than U. S. dollars, the
Trustee shall invest cash of a Separate Account as directed by the Investment
Adviser with respect to that Separate Account and such investments may include
an interest bearing account of a foreign custodian;

         5.5 (a) The Investment Subcommittee shall have the sole investment
responsibility with respect to the retention, sale, purchase or voting of any
Company Stock other than Company Stock which has been allocated to a Separate
Account over which the Investment Subcommittee has delegated investment
responsibility to an Investment Adviser. The Trustee shall have custody of such
Company Stock and shall act with respect thereto as directed by an Investment
Adviser of a Separate Account holding Company Stock or the Investment
Subcommittee with respect to Company Stock in a Company Stock Account. The
Trustee shall not make any investment review of, consider the propriety of
holding or selling, or vote any such Company Stock. With respect to such Company
Stock, the Investment Subcommittee shall have the investment powers granted to
the Trustee by ARTICLE FOUR as

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limited by Section 5.1 and Section 5.2 of ARTICLE FIVE, as if all references
therein to the Trustee referred to the Investment Subcommittee. No provision of
this Section 5.5 shall prevent the Trustee from taking any action with respect
to the voting or tender of such Company Stock if the Trustee determines in its
sole discretion that such action is necessary in order for the Trustee to
fulfill its fiduciary responsibilities under ERISA.

         (b) If the Investment Subcommittee or its designee determines to swap
shares of common stock of FMC Corporation with another trust or to enter into
non-market trades, it shall direct the Trustee with respect to the terms and
conditions of such trades.

         5.6 The Investment Subcommittee shall have sole responsibility for the
decision to maintain the custody of foreign investments abroad. Except as
otherwise directed by the Investment Subcommittee, custody of foreign
investments shall be maintained with foreign custodians selected by the Trustee.
The Trustee shall have no responsibility for losses to the Trust Fund resulting
from the acts or omissions of any foreign custodian appointed by the Trustee
unless due to the foreign custodian's fraud, negligence or willful misconduct.
The Trustee shall maintain custody of foreign investments in any jurisdiction
where the Trustee has not selected a custodian solely as directed by the
Investment Subcommittee. The Trustee shall have no responsibility for the
financial condition, acts or omissions of any foreign custodian holding assets
of the Trust Fund at the direction of the Investment Subcommittee.

                              ARTICLE SIX: ACCOUNTS

         6.1 The Trustee shall maintain accounts of all investments, receipts
and disbursements, including contributions, distributions, purchases, sales and
other transactions of the Trust Fund. The accounts, and the books and records
relating thereto, shall be open to inspection and audit at all reasonable times
by any person or persons designated by the Investment Subcommittee or entitled
thereto under ERISA.

         6.2 Within sixty (60) days after the close of each fiscal year of the
Trust Fund and of any other period agreed upon by the Trustee and the Investment
Subcommittee the Trustee shall render to the Investment Subcommittee a statement
of account for the Trust Fund for the period commencing with the close of the
last preceding period and a list showing each asset thereof as of the close of
the current period and its cost and fair market value. In preparing the
Trustee's written account, the Trustee shall be fully protected in relying,
without duty of inquiry: (i) upon the determination of the issuing insurance
company or other entity with respect to the value of each insurance or
investment contract included in such written account, (ii) upon information
provided by the general partner or other investment entity with respect to the
value of each limited partnership or other investment interest included in such
written account, and (iii) with respect to any assets of the Trust Fund managed
by an Investment Adviser for which the Trustee deems not to have a readily
ascertainable value, upon the fair market value of such assets as determined by
the applicable Investment Adviser.

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         6.3 An account of the Trustee may be approved by the Investment
Subcommittee by written notice delivered to the Trustee or by failure to object
to the account by written notice delivered to the Trustee within six (6) months
of the date upon which the account was delivered to the Investment Subcommittee.
The approval of an account shall constitute a full and complete discharge to the
Trustee as to all matters set forth in that account as if the account had been
settled by a court of competent jurisdiction in an action or proceeding to which
the Trustee, the Company and the Investment Subcommittee were parties. In no
event shall the Trustee be precluded from having its accounts settled by a
judicial proceeding. Nothing in this article shall relieve the Trustee of any
responsibility, or liability for any responsibility, under ERISA.

                        ARTICLE SEVEN: TRUSTEE SUCCESSION

         7.1 The Trustee may resign at any time by written notice to the
Investment Subcommittee, or the Investment Subcommittee may remove the Trustee
by written notice to the Trustee. The resignation or removal shall be effective
sixty (60) days after the date of the Trustee's resignation or receipt of the
notice of removal or at such earlier date as the Trustee and the Investment
Subcommittee may agree.

         7.2 In case of the resignation or removal of the Trustee, the
Investment Subcommittee shall appoint a successor trustee by delivery to the
Trustee of a written instrument executed by the Investment Subcommittee
appointing the successor trustee and a written instrument executed by the
successor trustee accepting the appointment, whereupon the Trustee shall deliver
the assets of the Trust Fund to the successor trustee but may reserve such
reasonable amount as the Trustee may deem necessary to satisfy outstanding
invoices for compensation for its services as Trustee and any other undisputed,
outstanding and accrued expenses as described in Section 9.5 hereof, against the
Trust Fund.

         7.3 The successor trustee, and any successor to the trust business of
the Trustee by merger, consolidation or otherwise, shall have all the powers
given the originally named Trustee. No successor trustee shall be personally
liable for any act or omission of any predecessor. Except as otherwise provided
in this Agreement or under ERISA, the receipt of the successor trustee and the
approval of the Trustee's final account by the Investment Subcommittee in the
manner provided in ARTICLE SIX shall constitute a full and complete discharge to
the Trustee.

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                    ARTICLE EIGHT: AMENDMENT AND TERMINATION

         8.1 The Company may at any time or times with the consent of the
Trustee amend this Agreement in whole or in part by instrument in writing
delivered to the Trustee and effective upon the date therein provided.

         8.2 This Agreement shall terminate by action of the Company. Upon
termination, the Trustee shall distribute the Trust Fund in the manner directed
by the Investment Subcommittee, in kind to the extent of identified assets and
the balance in cash or in kind or partly in each as the Trustee and the
Investment Subcommittee shall agree, except that the Trustee shall be entitled
to prior receipt of such rulings and determinations from such administrative
agencies as it may deem necessary or advisable to assure itself that the
distribution directed is in accordance with law and will not subject the Trust
Fund or the Trustee to liability, and except, further, that the Trustee may
reserve such reasonable amount as the Trustee may deem necessary to satisfy
outstanding invoices for compensation for its services as Trustee and any other
undisputed, outstanding and accrued expenses as described in Section9.5 hereof,
against the Trust Fund.

         8.3 This Agreement shall terminate in its entirety when there is no
asset included in the Trust Fund.

                           ARTICLE NINE: MISCELLANEOUS

         9.1 Any action required to be taken by the Company shall be by
resolution of its board of directors or by the written direction of one or more
of its president, any vice president or treasurer or assistant treasurer, or by
such other person or persons as shall be authorized by such officers or by
resolution of its board of directors, which resolution shall be filed with the
Trustee. The Trustee may take or omit to take any action in accordance with
written direction purporting to be signed by such an officer of the Company or
other authorized person, or in reliance upon a certified copy of a resolution of
the board of directors which the Trustee believes to be genuine. The Trustee
shall have no responsibility for any action taken by the Trustee in accordance
with any such resolution or direction.

         9.2 The Company shall certify to the Trustee in writing the names of
the members of the Committee and Investment Subcommittee acting from time to
time, and the Trustee shall not be charged with knowledge of a change in the
membership of either such committee until so notified in writing by the Company.
Any action required or permitted to be taken by the Committee or the Investment
Subcommittee shall be by direction of (i) one or more of the members of the
committee authorized to take such action hereunder, (ii) such committee's
secretary or (iii) such other designee as shall be designated in writing by the
Committee or the Investment Subcommittee to act for such committee. The Trustee
may rely upon an instrument of designation received from the Committee or the
Investment Subcommittee appointing a designee to act for such committee which it
reasonably believes has been signed by a majority of the members (or by the
secretary or chairman) of the appropriate committee

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and filed with the Trustee. The Trustee shall have no responsibility for any
action taken by it in accordance with any direction it reasonably believes to
have been given as provided above. Directions of the Committee or the Investment
Subcommittee may be given to the Trustee by telephone, letter, telex, fax,
SWIFT, other electronic or electro-mechanical means or by other methods the
Trustee deems acceptable.

         9.3 In no event shall the terms of the Plan, either expressly or by
implication, be deemed to impose upon the Trustee any power or responsibility
other than those set forth in this Agreement. The Trustee may assume until
advised to the contrary that the Plan and the Trust Fund are qualified under
Section 401(a) and exempt from taxation under Section 501(a) of the Code, or
under corresponding provisions of subsequent federal tax laws. The Trustee shall
be accountable for contributions made to the Plan and included among the assets
of the Trust Fund but shall have no responsibility to determine whether the
contributions comply with the provisions of the Plan or of ERISA.

         9.4 In any judicial proceeding to settle the accounts of the Trustee,
the Trustee, the Company and the Investment Subcommittee shall be the only
necessary parties; in any other judicial proceeding with respect to the Trustee
or the Trust Fund, the Trustee, the Company and each affected Subsidiary shall
be the only necessary parties; and no Participant or Beneficiary shall be
entitled to any notice of process. A final judgment in any such proceeding shall
be binding upon the parties to the proceeding and all Participants and
Beneficiaries.

         9.5 The Trustee shall be reimbursed for all reasonable and direct
expenses incurred in extraordinary and nonrecurring circumstances in the
management and protection of the Trust Fund to the extent such expenses are not
included in the compensation the Company pays the trustee for its services and
shall receive such reasonable compensation for its services as the Trustee and
the Company shall from time to time agree. Those items of expense and
compensation shall be paid from the Trust Fund, subject to prior payment or
reimbursement by the Company in its discretion.

         9.6 Without limiting the rights of the Trustee as otherwise provided in
this Agreement, pursuant to direction by the Committee, the Trustee shall pay
from the Trust Fund expenses of the Plan or compensation to parties providing
services to the Plan including but not by way of limitation, expenses or
compensation related to actuarial, legal, accounting, office space, printing,
computer, recordkeeping, investment, performance evaluation or any other
material or service provided to the Plan.

         9.7 The Company has allocated fiduciary responsibility among various
persons and entities in accordance with the terms of the Plan and this
Agreement. Except as provided herein, the Trustee shall have no responsibility
for any error or loss that results by reason of the exercise or non-exercise of
fiduciary responsibility which is not allocated to the Trustee hereunder and the
Company (which has the authority to do so under the laws of the state of its
incorporation) agrees to hold harmless and indemnify the Trustee from any
liability, loss and expense, including reasonable attorneys fees, which it
incurs to the extent the liability, loss or

                                       13

<PAGE>

expense is a direct result of such exercise or non-exercise of fiduciary
responsibility by the person or entity to which it is allocated; provided,
however, the Trustee shall not be so indemnified to the extent such liability,
loss or expense is a result of a breach by the Trustee of a duty specifically
allocated to it by the terms of this Agreement or the Trustee's negligence in
carrying out such a duty or to the extent the Trustee participated knowingly in
a breach, or knowingly undertook to conceal an act or omission of another
fiduciary, knowing such act or omission was a breach of fiduciary responsibility
by such fiduciary. This Section 9.7 shall survive the termination of this
Agreement.

         9.8  The Trustee hereby agrees to hold harmless and indemnify the
Company from and against any liability, loss or expense, including reasonable
attorneys fees which it incurs to the extent the liability, loss or expense was
a direct result of a breach by the Trustee of a duty specifically allocated to
it by the terms of this Agreement or the Trustee's negligence in carrying out
such a duty or to the extent the Trustee participated knowingly in a breach, or
knowingly undertook to conceal an act or omission of another fiduciary, knowing
such act or omission was a breach of fiduciary responsibility by such fiduciary.
This Section 9.8 shall survive the termination of this Agreement.

         9.9  For purposes of the foregoing, the Trustee shall not be deemed to
have participated knowingly in a breach, or knowingly undertook to conceal an
act or omission of another fiduciary, knowing such act or omission was a breach
of fiduciary responsibility by such fiduciary, by merely complying with the
authorized directions of an Investment Adviser or by its failure to act in the
absence of such authorized direction or by reason of maintaining accounting
records or solely as a result of the normal information received by the Trustee
or its officers, employees, or agents in the normal course of performing any
custodial, reporting, recording and bookkeeping functions with respect to any
assets of the Trust Fund managed by an Investment Manager or the Investment
Subcommittee. This Section 9.9 shall survive the termination of the Agreement.

         9.10 Notwithstanding any other provision of this Agreement, in no event
shall the Trustee or the Company be liable for any incidental or consequential
damages of any nature.

         9.11 Neither the Company, the Committee nor the Investment Subcommittee
shall direct the Trustee to cause any part of the Trust Fund to be diverted to
any purpose other than the exclusive benefit of the Participants and
Beneficiaries and for defraying the reasonable expenses of administering the
Plan or, except as otherwise permitted under the Plan and under ERISA, to be
remitted to the Company or a Subsidiary.

         9.12 Any person dealing with the Trustee shall not see to the
application of any money paid or property delivered to the Trustee or inquire
into the provisions of this Agreement or of the Plan or the Trustee's authority
thereunder or compliance therewith, and may rely upon the statement of the
Trustee that the Trustee is acting in accordance with this Agreement.

                                       14

<PAGE>

         9.13 Except as otherwise directed by the Committee, which direction
shall be in compliance with all applicable provisions of the 1984 Retirement
Equity Act, the relevant Plan and Section 401(a)(13) of the Code, any interest
of a Participant or Beneficiary in the Trust Fund or the Plan or in any
distribution therefrom shall not be subject to the claim of any creditor, any
spouse for alimony or support, or others, or to legal process, and may not be
voluntarily or involuntarily alienated or encumbered.

         9.14 The Trustee shall not be responsible for any delay in performance,
or non-performance, of any obligation hereunder to the extent that the same is
due to forces beyond its reasonable control, including but not limited to
delays, errors or interruptions caused by the Company, the Committee, the
Investment Subcommittee or third parties, any industrial, juridical,
governmental, civil or military action, acts of terrorism, insurrection or
revolution, nuclear fusion, fission or radiation, failure or fluctuation in
electrical power, heat, light, air conditioning or telecommunications equipment,
or acts of God.

         9.15 In case any provision of this Agreement shall be held illegal or
invalid for any reason, the illegality or invalidity shall not affect the
remaining provisions of this Agreement, but shall be fully severable, and the
Agreement shall not be construed and enforced as if said illegal or invalid
provisions had never been inserted herein. This Agreement supersedes and
replaces any prior agreements with respect to the subject matter hereof.

         9.16 This Agreement may be executed in any number of counterparts, each
of which shall be deemed an original, and the counterparts shall constitute one
and the same instrument.

                           ARTICLE TEN: GOVERNING LAW

         The provisions of ERISA and the internal laws of Illinois shall govern
the validity, interpretation and enforcement of this Agreement, and in case of
conflict, the provisions of ERISA shall prevail.

                                       15

<PAGE>

         IN WITNESS WHEREOF, the Company and the Trustee have executed this
Agreement by their respective duly authorized officers effective as of the day
and year first above written.

                               FMC TECHNOLOGIES, INC.

ATTEST:                        By:  /s/ William H. Schumann III
                                    -----------------------------------------

/s/ Lori A. Lenard             Its: Senior Vice President and Chief Financial
-------------------------           -----------------------------------------
Assistant General Counsel           Officer
                                    -------

         The undersigned, Jeffrey W. Carr, does hereby certify that he/she is
the duly elected, qualified and acting Secretary of FMC Technologies, Inc. (the
"Company") and further certifies that the person whose signature appears above
is a duly elected, qualified and acting officer of the Company with full power
and authority to execute this Trust Agreement on behalf of the Company and to
take such other actions and execute such other documents as may be necessary to
effectuate this Agreement.

/s/ Jeffrey W. Carr
-------------------------
       Secretary

 FMC Technologies, Inc.

                               THE NORTHERN TRUST COMPANY

ATTEST:                        By:  /s/ M. Curtis Pence
                                    -----------------------------------------

_________________________      Its: Vice President
                                    -----------------------------------------

                                       16<PAGE>

                                                                  Exhibit 10.6.C

              FMC TECHNOLOGIES, INC. EMPLOYEES' RETIREMENT PROGRAM

                                     PART I

             SALARIED AND NONUNION HOURLY EMPLOYEES' RETIREMENT PLAN

<PAGE>

                                TABLE OF CONTENTS
                                -----------------

<TABLE>
<S>                                                                                              <C>
INTRODUCTION.................................................................................     1

ARTICLE I....................................................................................     2

Definitions..................................................................................     2
-----------
Actuarial Equivalent.........................................................................     2
--------------------
Administrator................................................................................     2
-------------
Affiliate....................................................................................     2
---------
Annuity Starting Date........................................................................     3
---------------------
Beneficiary..................................................................................     3
-----------
Benefits Agreement...........................................................................     3
------------------
Board........................................................................................     3
-----
Code.........................................................................................     3
----
Committee....................................................................................     3
---------
Company......................................................................................     3
-------
Early Retirement Benefit.....................................................................     3
------------------------
Early Retirement Date........................................................................     3
---------------------
Earnings.....................................................................................     4
--------
Effective Date...............................................................................     5
--------------
Eligible Employee............................................................................     5
-----------------
Employee.....................................................................................     5
--------
Employee Contributions.......................................................................     5
----------------------
Employment Commencement Date.................................................................     5
----------------------------
ERISA........................................................................................     5
-----
50% Joint and Survivor's Annuity.............................................................     6
--------------------------------
Final Average Yearly Earnings................................................................     6
-----------------------------
FMC..........................................................................................     6
---
FMC Beneficiary..............................................................................     6
---------------
FMC Joint Annuitant..........................................................................     6
-------------------
FMC Participant..............................................................................     6
---------------
FMC Plan.....................................................................................     6
--------
FTI Spinoff..................................................................................     6
-----------
Foreign Subsidiary...........................................................................     6
------------------
Hour of Service..............................................................................     6
---------------
Individual Life Annuity......................................................................     6
-----------------------
Interest.....................................................................................     7
--------
Investment Manager...........................................................................     7
------------------
Joint Annuitant..............................................................................     7
---------------
Leased Employee..............................................................................     7
---------------
Level Income Option..........................................................................     7
-------------------
Normal Retirement Date.......................................................................     7
----------------------
100% Joint and Survivor's Annuity............................................................     7
---------------------------------
One-Year Period of Severance.................................................................     7
----------------------------
Participant..................................................................................     7
-----------
Participating Employer.......................................................................     7
----------------------
Period of Service............................................................................     7
-----------------
Period of Severance..........................................................................     8
-------------------
Plan.........................................................................................     8
----
Plan Year....................................................................................     8
---------
Primary Social Security Benefit..............................................................     8
-------------------------------
</TABLE>

                                       i

<PAGE>

<TABLE>
<S>                                                                                                             <C>
Reemployment Commencement Date................................................................................    8
------------------------------
Savings Plan..................................................................................................    8
------------
Severance From Service Date...................................................................................    8
---------------------------
Social Security Covered Compensation Base.....................................................................    9
-----------------------------------------
Supplement....................................................................................................    9
----------
Trust.........................................................................................................    9
-----
Trust Fund....................................................................................................    9
----------
Year of Credited Service......................................................................................    9
------------------------
Year of Vesting Service.......................................................................................   10
-----------------------

ARTICLE II....................................................................................................   11

Participation.................................................................................................   11
-------------
2.1       Eligibility and Commencement of Participation.......................................................   11
          ---------------------------------------------
2.2       Provision of Information............................................................................   11
          ------------------------
2.3       Termination of Participation........................................................................   11
          ----------------------------
2.4       Special Rules Relating to Veterans' Reemployment Rights.............................................   11
          -------------------------------------------------------

ARTICLE III...................................................................................................   12

Normal, Early and Deferred Retirement Benefits................................................................   12
----------------------------------------------
3.1       Normal Retirement Benefits..........................................................................   12
          --------------------------
3.2       Early Retirement Benefits...........................................................................   13
          -------------------------
3.3       Deferred Retirement Benefits........................................................................   13
          ----------------------------
3.4       Suspension of Benefits..............................................................................   15
          ----------------------
3.5       Benefit Limitations.................................................................................   17
          -------------------
3.6       FMC Participants' Benefits..........................................................................   20
          --------------------------

ARTICLE IV....................................................................................................   21

Termination Benefits..........................................................................................   21
--------------------
4.1       Termination of Service..............................................................................   21
          ----------------------
4.2       Amount of Termination Benefit.......................................................................   21
          -----------------------------

ARTICLE V.....................................................................................................   23

Refund of Employee Contributions..............................................................................   23
--------------------------------
5.1       Employee Contributions..............................................................................   23
          ----------------------
5.2       Withdrawal of Employee Contributions................................................................   23
          ------------------------------------
5.3       Refund Upon Death Before Annuity Starting Date......................................................   23
          ----------------------------------------------
5.4       Refund After Annuity Starting Date..................................................................   23
          ----------------------------------

ARTICLE VI....................................................................................................   25

Payment of Retirement Benefits................................................................................   25
------------------------------
6.1       Normal Form of Benefit..............................................................................   25
          ----------------------
6.2       Available Forms of Benefits.........................................................................   25
          ---------------------------
6.3       Election of Benefits................................................................................   26
          --------------------
6.4       Joint Annuitants....................................................................................   27
          ----------------
6.5       FMC Participants in Pay Status......................................................................   28
          ------------------------------

ARTICLE VII...................................................................................................   29

Survivor's Benefits...........................................................................................   29
-------------------
7.1       Preretirement Survivor's Benefit....................................................................   29
          --------------------------------
7.2       Surviving Spouse's Benefit..........................................................................   30
          --------------------------
7.3       Certain Former Employees............................................................................   30
          ------------------------

ARTICLE VIII..................................................................................................   32

Fiduciaries...................................................................................................   32
-----------
8.1       Named Fiduciaries...................................................................................   32
          -----------------
8.2       Employment of Advisers..............................................................................   32
          ----------------------
</TABLE>

                                       ii

<PAGE>

<TABLE>
<S>                                                                                                             <C>
8.3       Multiple Fiduciary Capacities.....................................................................     32
          -----------------------------
8.4       Payment of Expenses...............................................................................     32
          -------------------
8.5       Indemnification...................................................................................     33
          ---------------

ARTICLE IX..................................................................................................     34

Plan Administration.........................................................................................     34
-------------------
9.1       Powers, Duties and Responsibilities of the Administrator and the Committee........................     34
          --------------------------------------------------------------------------
9.2       Delegation of Administration Responsibilities.....................................................     34
          ---------------------------------------------
9.3       Committee Members.................................................................................     35
          -----------------

ARTICLE X...................................................................................................     36

Funding of the Plan.........................................................................................     36
-------------------
10.1      Appointment of Trustee............................................................................     36
          ----------------------
10.2      Actuarial Cost Method.............................................................................     36
          ---------------------
10.3      Cost of the Plan..................................................................................     36
          ----------------
10.4      Funding Policy....................................................................................     36
          --------------
10.5      Cash Needs of the Plan............................................................................     37
          ----------------------
10.6      Public Accountant.................................................................................     37
          -----------------
10.7      Enrolled Actuary..................................................................................     37
          ----------------
10.8      Basis of Payments to the Plan.....................................................................     37
          -----------------------------
10.9      Basis of Payments from the Plan...................................................................     37
          -------------------------------

ARTICLE XI..................................................................................................     38

Plan Amendment or Termination...............................................................................     38
-----------------------------
11.1      Plan Amendment or Termination.....................................................................     38
          -----------------------------
11.2      Limitations on Plan Amendment.....................................................................     38
          -----------------------------
11.3      Effect of Plan Termination........................................................................     38
          --------------------------
11.4      Allocation of Trust Fund on Termination...........................................................     39
          ---------------------------------------

ARTICLE XII.................................................................................................     40

Miscellaneous Provisions....................................................................................     40
------------------------
12.1      Subsequent Changes................................................................................     40
          ------------------
12.2      Plan Mergers......................................................................................     40
          ------------
12.3      No Assignment of Property Rights..................................................................     40
          --------------------------------
12.4      Beneficiary.......................................................................................     41
          -----------
12.5      Benefits Payable to Minors, Incompetents and Others...............................................     41
          ---------------------------------------------------
12.6      Employment Rights.................................................................................     42
          -----------------
12.7      Proof of Age and Marriage.........................................................................     42
          -------------------------
12.8      Small Annuities...................................................................................     42
          ---------------
12.9      Controlling Law...................................................................................     42
          ---------------
12.10     Direct Rollover Option............................................................................     42
          ----------------------
12.11     Claims Procedure..................................................................................     43
          ----------------
12.12     Participation in the Plan by an Affiliate.........................................................     45
          -----------------------------------------
12.13     Action by Participating Employers.................................................................     45
          ---------------------------------

ARTICLE XIII................................................................................................     46

Top Heavy Provisions........................................................................................     46
--------------------
13.1      Top Heavy Definitions.............................................................................     46
          ---------------------
13.2      Determination of Top Heavy Status.................................................................     49
          ---------------------------------
13.3      Minimum Benefit Requirement for Top Heavy Plan....................................................     49
          ----------------------------------------------
13.4      Vesting Requirement for Top Heavy Plan............................................................     50
          --------------------------------------
</TABLE>

                                       iii

<PAGE>

<TABLE>
<S>                                                                                                             <C>
EXHIBIT A...................................................................................................     52

EXHIBIT B...................................................................................................     53

EXHIBIT C...................................................................................................     54

SUPPLEMENT 1................................................................................................     55

SUPPLEMENT 2................................................................................................     57

SUPPLEMENT 3................................................................................................     58

SUPPLEMENT 4................................................................................................     60
</TABLE>

                                       iv

<PAGE>

              FMC TECHNOLOGIES, INC. EMPLOYEES' RETIREMENT PROGRAM
                                     PART I
             SALARIED AND NONUNION HOURLY EMPLOYEES' RETIREMENT PLAN

                                  INTRODUCTION

               The FMC Technologies, Inc. Employees' Retirement Program
("Program") is established effective May 1, 2001, in connection with a spin-off
of assets and liabilities from the FMC Corporation Employees' Retirement Program
(the "FMC Plan").

               The Program consists of two parts, Part I Salaried and Nonunion
Hourly Employees' Retirement Plan and Part II Union Hourly Employees' Retirement
Plan, which are contained in two separate plan documents. Supplements to Part I
and Part II of the Program contain provisions which apply only to a specific
group of Employees or Participants as specified therein and override any
contrary provision of the Program or either Part I or Part II. This document is
Part I Salaried and Nonunion Hourly Employees' Retirement Plan ("Plan") and
covers the eligible employees as provided in Article II Participation. This
document is generally effective as of May 1, 2001, except as and to the extent
otherwise provided herein or as required with respect to the accrued benefits of
any Participant affected by the FTI Spinoff. This document shall not be
construed to affect an FMC Participant's accrued benefit under the FMC Plan, or
to alter in any way the rights of any FMC Participant, FMC Joint Annuitant or
FMC Beneficiary thereof who has retired, died, or with respect to whom there has
been a severance from service date under the FMC Plan before May 1, 2001.

               The Plan is intended to be qualified under Code Section 401(a),
and its associated trust is intended to be tax exempt under Code Section 501(a).
The Plan is intended also to meet the requirements of ERISA and shall be
interpreted, wherever possible, to comply with the terms of the Code and ERISA.
The Plan is intended to provide a regular monthly retirement benefit for
employees who meet the eligibility requirements.

                                        1

<PAGE>

                                    ARTICLE I

                                   Definitions
                                   -----------

                  For purposes of this Plan and any amendments to it, the
following terms have the meanings ascribed to them below.

                  Actuarial Equivalent means a benefit determined to be of equal
                  --------------------
value to another benefit on the basis of either (a) the actuarial assumptions in
Exhibit E-1, E-2, E-3 or E-4, as applicable, or (b) the mortality table and
interest rate described in the applicable Supplement.

                  Notwithstanding the foregoing, for purposes of Section
12.8,  Actuarial Equivalent value shall be determined as follows:

                  (i)      with respect to FMC Participants whose Annuity
                           Starting Dates occurred prior to June 1, 1995, based
                           on the actuarial assumptions in Exhibit E-4; provided
                           that the interest rate shall not exceed the rate for
                           immediate annuities used by the Pension Benefit
                           Guaranty Corporation for plans terminating on the
                           first day of the Plan Year that contains the Annuity
                           Starting Date;

                  (ii)     with respect to FMC Participants with Annuity
                           Starting Dates occurring on or after June 1, 1995,
                           and who had an Hour of Service prior to August 31,
                           1999, based on the 1983 Group Annuity Mortality Table
                           (weighed 50% male and 50% female) (or the applicable
                           mortality table prescribed under Section 417(e)(3) of
                           the Code) and the lesser of the interest rate in
                           Exhibit E-4 or the applicable interest rate
                           prescribed under Section 417(e)(3) of the Code for
                           the November preceding the Plan Year that contains
                           the Annuity Starting Date; and

                  (iii)    for Annuity Starting Dates occurring on or after
                           August 31, 1999, with respect to any Participant who
                           did not have an Hour of Service prior to July 1,
                           1999, based on the 1983 Group Annuity Mortality Table
                           (weighted 50% male and 50% female) (or the applicable
                           mortality table, prescribed under Section 417(e)(3)
                           of the Code) and the applicable interest rate
                           prescribed under Section 417(e)(3) of the Code for
                           the November preceding the Plan Year that contains
                           the Annuity Starting Date.

                  Administrator means the Company. The Plan is administered by
                  -------------
the Company through the Committee. The Administrator and the Committee have the
responsibilities specified in Article IX.

                  Affiliate means any corporation, partnership, or other entity
                  ---------
that is:

                  (a)      a member of a controlled group of corporations of
                           which the  Company is a member (as  described  in
                           Code Section 414(b));

                                       2

<PAGE>

                  (b)      a member of any trade or business under common
                           control with the Company (as described in Code
                           Section 414(c));

                  (c)      a member of an affiliated service group that includes
                           the Company (as described in Code Section 414(m));

                  (d)      an entity required to be aggregated with the Company
                           pursuant to regulations promulgated under Code
                           Section 414(o); or

                  (e)      a leasing organization that provides Leased Employees
                           to the Company or an Affiliate (as determined under
                           paragraphs (a) through (d) above), unless (i) the
                           Leased Employees constitute less than 20% of the
                           nonhighly compensated workforce of the Company and
                           Affiliates (as determined under paragraphs (a)
                           through (d) above); and (ii) the Leased Employees are
                           covered by a plan described in Code Section
                           414(n)(5).

                  "Leasing organization" has the meaning ascribed to it in the
definition of "Leased Employee" below.

                  For purposes of Section 3.5, the 80% thresholds of Code
Sections 414(b) and (c) are deemed to be "more than 50%," rather than "at least
80%."

                  Annuity Starting Date means the first day of the first period
                  ---------------------
for which an amount is paid in an annuity or other form of benefit. In the case
of a lump sum distribution, the Annuity Starting Date is the date payment is
actually made.

                  Beneficiary means the person or persons determined pursuant to
                  -----------
Section 12.4.

                  Benefits Agreement means the Employee Benefits Agreement by
                  ------------------
and between FMC and the Company.

                  Board means the board of directors of the Company.
                  -----

                  Code means the Internal Revenue Code of 1986, as amended from
                  ----
time to time. Reference to a specific provision of the Code includes that
provision, any successor to it and any valid regulation promulgated under the
provision or successor provision.

                  Committee means the FTI Employee Benefits Plan Committee as
                  ---------
described in Section 9.3, its authorized delegatee and any successor to the
Committee.

                  Company means FMC Technologies, Inc., a Delaware corporation,
                  -------
and any successor to it.

                  Early Retirement Benefit means the benefits determined
                  ------------------------
pursuant to Section 3.2.

                  Early Retirement Date means (a) in the case of an FMC
                  ---------------------
Participant who became a Participant in the FMC Plan before January 1, 1984,
such Participant's 55th birthday; and (b) in the case of an FMC Participant who
became a Participant in the FMC Plan after December 31, 1983, or any other
Employee who became a Participant in this Plan after the Effective Date, the

                                       3

<PAGE>

later of the Participant's 55th birthday and the date the Participant acquires
10 Years of Credited Service.

                  Earnings means the total compensation paid by the Company or a
                  --------
Participating Employer to an Eligible Employee for each Plan Year that is
currently includible in gross income for federal income tax purposes:

          (a)     including:  overtime, administrative and discretionary bonuses
                  ---------
                  (including, gain sharing bonuses, performance related bonuses,
                  completion bonuses (except as provided below); sales incentive
                  bonuses; earned but unused vacation, back pay, sick pay (other
                  than a cash payment of unused sick days) and state disability
                  benefits; plus the Employee's Pre-Tax Contributions and
                  amounts contributed to a plan described in Code Section 125 or
                  132; and the incentive compensation (including management
                  incentive bonuses which may be paid in cash and restricted
                  stock and local incentive bonuses) earned during the Plan
                  Year;

         (b)      but excluding:  hiring bonuses;  referral bonuses; stay
                  -------------
                  bonuses;  retention bonuses; awards (including safety awards,
                  "Gutbuster" awards and other similar awards); amounts received
                  as deferred compensation; disability payments from insurance
                  or the Long-Term Disability Plan for Employees of FMC
                  benefits); workers' Technologies, Inc. (other than state
                  disability compensation  benefits; flexible credits (i.e.,
                  wellness awards and payments for opting out of benefit
                  coverage); expatriate  premiums (including  completion of
                  expatriate assignment bonuses); grievance or settlement pay;
                  severance pay; incentives for reduction in force; accrued (but
                  not earned) vacation; other special payments such as
                  reimbursements, relocation  or moving  expense allowances;
                  stock options or other stock-based compensation (except as
                  provided above); any gross-up paid by a Participating
                  Employer; other distributions that receive special tax
                  benefits; any amounts paid by a Participating Employer to
                  cover an Employee's  FICA tax obligation as to amounts
                  deferred or accrued under any nonqualified retirement plan of
                  a Participating  Employer; and, pay in lieu of notice.

                  The annual amount of Earnings taken into account for a
Participant must not exceed $160,000 (as adjusted by the Internal Revenue
Service for cost-of-living increases in accordance with Code Section
401(a)(17)(B)).

                  A Participant's Earnings will be conclusively determined
according to the Company's records.

                  An FMC  Participant's  Earnings shall include all "Earnings"
determined under the FMC Plan on and prior to April 30, 2001.

                  Effective Date means (i) May 1, 2001 or, if later, an
                  --------------
Employee's Employment Commencement Date or Reemployment Commencement date,
whichever is applicable, or (ii) with respect to each FMC Participant, May 1,
2001 or, if later, the date such FMC Participant's accrued benefit under the FMC
Plan is deemed transferred to this Plan under the Benefits Agreement.

                                       4

<PAGE>

                  Eligible Employee means an Employee of a Participating
                  -----------------
Employer who is employed on a salaried basis or in such other classifications as
the Company may designate as salaried positions, other than:

                  (a)      a Leased Employee;

                  (b)      a member of a bargaining unit covered by a collective
                           bargaining  agreement that does not specifically
                           provide for participation in the Plan by members of
                           the bargaining unit; or

                  (c)      any Employee who generally resides outside the United
                           States or whose principal duties generally are
                           performed outside the United States as determined by
                           the Company, unless such individual is a United
                           States citizen or permanent resident alien or the
                           Company designates such individual as an Eligible
                           Employee.

                  Any individual who is a United States citizen or permanent
resident alien and who is employed by a Foreign Subsidiary in a position which
would make such individual an Eligible Employee if employed by the Company shall
be deemed to be employed by the Company, provided that no entity other than the
Company makes contributions under any funded plan of deferred compensation
(other than the Thrift Plan or any governmental retirement plan) with respect to
the remuneration such individual receives from such Foreign Subsidiary.

                  Employee  means a common law employee or Leased  Employee of
                  --------
the Company or an  Affiliate,  subject to the  following rules:

                  (a)      a person who is not a Leased Employee and who is
                           engaged as an independent contractor is not an
                           Employee;

                  (b)      only individuals who are paid as employees from the
                           payroll of the Company or an Affiliate and treated as
                           employees are Employees under the Plan; and

                  (c)      any person retroactively found to be a common law
                           employee shall not be eligible to participate in the
                           Plan for any period he was not an Employee under the
                           Plan.

                  Employee  Contributions means required contributions made by
                  -----------------------
Participants to the FMC Plan or prior plans prior to May 1, 1969.

                  Employment Commencement Date means the date on which the
                  ----------------------------
Employee first performs an Hour of Service.

                  ERISA means the Employee Retirement Income Security Act of
                  -----
1974, as amended from time to time. Reference to a specific provision of ERISA
includes the provision, any successor provision and any valid regulation
promulgated under the provision or successor provision.

                                       5

<PAGE>

                  50% Joint and Survivor's Annuity means the immediate annuity
                  --------------------------------
determined pursuant to Section 6.1.2.

                  Final Average Yearly Earnings means 1/5th of the sum of the
                  -----------------------------
Participant's Earnings while an Eligible Employee (or with respect to an FMC
Participant, while an Eligible Employee or while an eligible employee under the
FMC Plan) for the 60 consecutive calendar months (not taking into account months
in which the Participant had no Earnings) out of the past 120 calendar months in
which such Earnings were the highest. If the commencement of a Participant's
retirement benefits hereunder is preceded by a period of long-term disability,
the Company may adjust Final Average Yearly Earnings on a nondiscriminatory
basis. With respect to Participants who accepted offers of employment with
Snap-On Incorporated ("Snap-On") as a result of the Company's sale of assets of
its Automotive Service Equipment Division to Snap-On, the Participants' Earnings
shall include eligible wages with Snap-On and its subsidiaries for purposes of
calculating Final Average Yearly Earnings.

                  FMC means FMC Corporation, a Delaware corporation.
                  ---

                  FMC Beneficiary means an individual who was receiving benefits
                  ---------------
under the FMC Plan as a result of the death of an FMC Participant and whose
benefit was transferred to this Plan pursuant to the FTI Spinoff.

                  FMC Joint Annuitant means an individual who was designated as
                  -------------------
a joint annuitant of an FMC Participant under the FMC Plan, the benefits of such
FMC Participant which were transferred to this Plan pursuant to the FTI Spinoff.

                  FMC Participant means any participant in Part I Salaried and
                  ---------------
Non-Union Hourly Employee's Retirement Plan of the FMC Plan who had their
accrued benefit, years of credited service and years of vesting service under
the FMC Plan transferred to this Plan, pursuant to the FTI Spinoff.

                  FMC Plan means the FMC Corporation Employees' Retirement
                  --------
Program.

                  FTI Spinoff means the transfer of assets and liabilities
                  -----------
attributable to FMC Participants from the FMC Plan to this Plan pursuant to the
Benefits Agreement.

                  Foreign Subsidiary means a foreign corporation covered by an
                  ------------------
agreement between the Company and the Internal Revenue Service extending Federal
Social Security benefits to such foreign corporation's employees who are United
States citizens, provided that either (a) not less than 20% of the voting stock
of such foreign corporation is owned by the Company or (b) more than 50% of the
voting stock of such foreign corporation is owned by another foreign corporation
which is described in (a) above.

                  Hour of Service means each hour for which an Employee is
                  ---------------
directly or indirectly paid or entitled to payment by the Company or an
Affiliate for the performance of duties and, for each FMC Participant, each hour
of service credited to such individual under the FMC Plan as of the date prior
to the Effective Date for such FMC Participant.

                  Individual Life Annuity means the annuity determined pursuant
                  -----------------------
to Section 6.1.1.

                                       6

<PAGE>

                  Interest means interest compounded annually at the following
                  --------
rates:

                  (a)    if Employee Contributions are withdrawn prior to
retirement then

                         (i)   for periods prior to January 1, 1976 at a rate
                               equal to 3%; and

                         (ii)  for periods on and after January 1, 1976 at a
                               rate equal to 5%.

                  (b)    if Employee Contributions are not withdrawn and are
used to increase a Participant's Normal Retirement Benefit under Section 3.1.3,
then at a rate equal to 5%.

                  Investment Manager means a person who is an "investment
                  ------------------
manager" as defined in section 3(38) of ERISA.

                  Joint Annuitant means the individual determined pursuant to
                  ---------------
Section 6.4.

                  Leased Employee means an individual who performs services for
                  ---------------
the Company or an Affiliate on a substantially full-time basis for a period of
at least one year, under the primary direction or control of the Company or an
Affiliate, and under an agreement between the Company or Affiliate and a leasing
organization. The leasing organization can be a third party or the Leased
Employee himself.

                  Level Income Option means the annuity determined pursuant to
                  -------------------
Section 6.2.4.

                  Normal Retirement Date means the Participant's 65th birthday.
                  ----------------------

                  100% Joint and Survivor's Annuity means the immediate annuity
                  ---------------------------------
determined pursuant to Section 6.2.3.

                  One-Year Period of Severance means a 12-consecutive-month
                  ----------------------------
period commencing on an Employee's Severance From Service Date in which the
Employee is not credited with an Hour of Service.

                  Participant means an Eligible Employee who has begun, but not
                  -----------
ended, his or her participation in the Plan pursuant to the provisions of
Article II and, unless specifically indicated otherwise, shall include each FMC
Participant.

                  Participating Employer means the Company and each other
                  ----------------------
Affiliate that adopts the Plan with the consent of the Board, as provided in
Section 12.12.

                  Period of Service means the period commencing on the Effective
                  -----------------
Date and ending on the Severance From Service Date including, for each FMC
Participant, periods of service credited under the FMC Plan as of the date
immediately prior to the relevant Effective Date for such FMC Participant. All
Periods of Service (whether or not consecutive) shall be aggregated.
Notwithstanding the foregoing, if an Employee incurs a One-Year Period of
Severance at a time when he or she has no vested interest under the Plan and the
Employee does not perform an Hour of Service within 5 years after the beginning
of the One-Year Period of

                                       7

<PAGE>

Severance, the Period of Vesting Service prior to such One-Year Period of
Severance shall not be aggregated.

                  Period of Severance means the period commencing on the
                  -------------------
Severance From Service Date and ending on the date on which the Employee again
performs an Hour of Service.

                  Plan means Part I Salaried and Nonunion Hourly Employees'
                  ----
Retirement Plan of the FMC Technologies, Inc. Employees' Retirement Program.

                  Plan Year means the period beginning May 1, 2001 and ending
                  ---------
December 31, 2001 and thereafter the 12-month period beginning on January 1 and
ending the next December 31.

                  Primary Social Security Benefit means the primary benefit
                  -------------------------------
which the Participant is eligible to receive at age 65 under the old age portion
of the Federal Old Age, Survivors' and Disability Insurance Program assuming
that after termination of employment with the Company and Affiliates the
Participant has no further earnings subject to such programs. A Participant's
Primary Social Security Benefit shall be determined by taking his Earnings at
the time of his employment and applying a salary scale, projected backwards,
reflecting the actual change in the average wage from year to year as determined
by the Social Security Administration.

                  Reemployment Commencement Date means the first date following
                  ------------------------------
a Period of Severance which is not required to be taken into account for
purposes of an Employee's Period of Vesting Service on which the Employee
performs an Hour of Service.

                  Savings Plan means the FMC Technologies, Inc. Employees'
                  ------------
Savings and Investment Plan, as amended from time to time.

                  Severance From Service Date means the earliest of:
                  ---------------------------

                  (a)      the date on which an Employee voluntarily terminates,
                           retires, is discharged or dies;

                  (b)      the first anniversary of the first date of a period
                           in which an Employee remains absent from service
                           (with or without pay) with the Company and Affiliates
                           for any reason other than voluntary termination,
                           retirement, discharge or death; or

                  (c)      the second anniversary of the date an Employee is
                           absent pursuant to a maternity or paternity leave of
                           absence; provided, however, that the period between
                           the first and second anniversaries of the first date
                           of such absence shall be neither a Period of Service
                           nor a One-Year Period of Severance.

                  Notwithstanding the foregoing, a Severance From Service Date
shall not be considered to have occurred under the following circumstances:

                  (i)      during a leave of absence, vacation or holiday with
                           pay;

                                       8

<PAGE>

                  (ii)     during a leave of absence  without pay granted by
                           reason of disability or under the Family and Medical
                           Leave Act of 1993;

                  (iii)    during a period of qualified military service,
                           provided the Employee makes application to return
                           within 90 days after completion of active service and
                           returns to active employment as an Employee while
                           reemployment rights are protected by law. If the
                           Employee does not so return, the Employee shall have
                           a Severance From Service Date on the first
                           anniversary of the date of entry into military
                           service.

                  If the Employee violates the terms of a leave of absence, the
Employee shall be deemed to have voluntarily terminated as of the date of such
violation. In the case of a leave in excess of 12 months, if the Employee fails
to return to active employment immediately after such leave, the Employee shall
be deemed to have voluntarily terminated as of the last day of the 12th month of
the leave.

                  A "maternity or paternity leave of absence" means an absence
from work by reason of the Employee's pregnancy, birth of the Employee's child,
placement of a child with the Employee in connection with the adoption of such
child, or any absence for the purpose of caring for such child for a period
immediately following such birth or placement.

                  Social Security Covered Compensation Base means the average of
                  -----------------------------------------
the compensation and benefit bases in effect under Section 230 of the Social
Security Act for each year in the 35-year period ending with the year in which
the participant attains Social Security retirement age as defined in Section
415(b)(8) of the Code.

                  Supplement means the provisions of the Plan which apply only
                  ----------
to a specific group of Employees or Participants as detailed in such Supplement
and which override any contrary provision of the Plan.

                  Trust means the trust established by the Trust Agreement.
                  -----
"Trust Agreement" means the trust agreement or agreements, as amended from time
to time, entered into by the Company and the Trustee pursuant to Section 8.1.
"Trustee" means the trustee or trustees at any time appointed by the Company
pursuant to Section 8.1.

                  Trust Fund means the trust fund established and maintained by
                  ----------
the Trustee to hold all assets of the Plan pursuant to the Trust Agreement.

                  Year of Credited Service means (a) for an FMC Participant, his
                  ------------------------
or her years of credited service under the FMC Plan prior to such FMC
Participant's Effective Date, and (b) the total number of calendar months during
the Employee's Period of Service while the Employee is an Eligible Employee and
after he has become a Participant divided by 12. A partial month in such Period
of Service counts as a whole month, and fractional Years of Credited Service
shall be taken into account in determining a Participant's benefits. Year of
Credited Service shall also include such other periods as the Company recognizes
as a Year of Credited Service, pursuant to written and nondiscriminatory rules.

                                       9

<PAGE>

                  Notwithstanding the foregoing, Credited Service shall not
include (i) any leave of absence without pay unless the Employee returns to
active employment as an Employee immediately after such leave and abides by all
the terms of the leave, (ii) any maternity or paternity leave of absence unless
the Employee returns to active employment as an Employee within 12 months after
the first day of such leave, or (iii) any period of service with respect to
which such Eligible Employee accrues a benefit under the FMC Plan on or after
May 1, 2001 or any pension, profit sharing or other retirement plan listed on
Exhibit A.

                  Year of Vesting Service means (a) for an FMC Participant, his
                  -----------------------
or her years of service and years of vesting service credited under the FMC Plan
prior to such FMC Participant's Effective Date, and (b) the total number of
calendar months during the Employee's Period of Service divided by 12,
determined in accordance with the following rules:

                  (i)      a partial month in the Employee's Period of Service
                           counts as a whole month;

                  (ii)     if the Employee has a Severance From Service Date by
                           reason of a voluntary termination, discharge or
                           retirement and the Employee then performs 1 Hour of
                           Service within 12 months of the Severance From
                           Service Date, such Period of Severance is included in
                           the Period of Vesting Service. If the Employee has a
                           Severance From Service Date by reason of a voluntary
                           termination, discharge or retirement during an
                           absence from service of 12 months or less for any
                           reason other than a voluntary termination, discharge
                           or retirement, and then performs 1 Hour of Service
                           within 12 months of the date on which the Employee
                           was first absent from service, such Period of
                           Severance is included in the Period of Vesting
                           Service;

                  (iii)    period of Vesting Service also includes the
                           following:

                           (1)     a period of employment with an employer
                                   substantially all of the equity interest or
                                   assets of which have been acquired by the
                                   Company or an Affiliate, but only to the
                                   extent that the Company expressly recognizes
                                   such period as a Period of Vesting Service
                                   pursuant to written and nondiscriminatory
                                   rules; and

                           (2)     such other periods as the Company recognizes
                                   as a Period of Vesting Service pursuant to
                                   written and nondiscriminatory rules.

                                       10

<PAGE>

                                   ARTICLE II

                                  Participation
                                  -------------

2.1   Eligibility and Commencement of Participation
      ---------------------------------------------

          Each FMC Participant shall automatically became a Participant in the
Plan on such FMC Participant's Effective Date. Except as otherwise provided in
the applicable Supplement, each other Employee shall automatically become a
Participant in the Plan as of the first day of the month in which the
Participant satisfies all of the following requirements:

          (a)  the Employee is an Eligible Employee; and

          (b)  the Employee either (i) is a permanent, full-time Employee, or
               (ii) has completed not less than 1,000 Hours of Service in a
               12-month period beginning on the date his employment commenced or
               any anniversary thereof.

2.2   Provision of Information
      ------------------------

          Each Participant must make available to the Administrator any
information it reasonably requests. As a condition of participation in the Plan,
each Employee and FMC Participant agrees, on his or her own behalf and on behalf
of all persons who may have or claim any right by reason of the Employee's
participation in the Plan, to be bound by all provisions of the Plan.

2.3   Termination of Participation
      ----------------------------

          A Participant ceases to be a Participant when he or she dies or, if
earlier, when his or her entire vested benefit accrued under the Plan has been
paid to him or her.

2.4   Special Rules Relating to Veterans' Reemployment Rights
      -------------------------------------------------------

          Notwithstanding any provision of this Plan to the contrary, with
respect to an Eligible Employee or Participant who is reemployed in accordance
with the reemployment provisions of the Uniformed Services Employment and
Reemployment Rights Act following a period of qualifying military service (as
determined under such Act), contributions, benefits and service credit will be
provided in accordance with Section 414(u) of the Code.

                                       11

<PAGE>

                                   ARTICLE III

                 Normal, Early and Deferred Retirement Benefits
                 ----------------------------------------------

3.1   Normal Retirement Benefits
      --------------------------

          3.1.1  Normal Retirement: A Participant who retires on the Normal
Retirement Date shall be entitled to receive a Normal Retirement Benefit
determined under Section 3.1.2. Payment of such benefit shall commence as of the
first day of the month coincident with or next following the Participant's
Normal Retirement Date, unless the Participant elects to defer commencement
subject to Section 3.3.2.

          3.1.2  Calculation of Normal Retirement Benefit: Subject to Section
3.1.3, a Participant's monthly Normal Retirement Benefit shall be equal to the
product of (a) multiplied by (b) below:

          (a)    1/12th of the sum of (i) and (ii) below:

                 (i)  the sum of (1) 1% of the Participant's Final Average
                      Yearly Earnings up to the Social Security Covered
                      Compensation Base and (2) 1-1/2% of the Participant's
                      Final Average Yearly Earnings in excess of the Social
                      Security Covered Compensation Base multiplied by the
                      Participant's expected Years of Credited Service at age 65
                      up to 35 Years of Credited Service; and

                 (ii) 1-1/2% of the Participant's Final Average Yearly Earnings
                      multiplied by the Participant's expected Years of Credited
                      Service at age 65 in excess of 35 Years of Credited
                      Service.

          (b)    the ratio of actual Years of Credited Service to expected Years
                 of Credited Service at age 65.

In no event, however, shall an FMC Participant's monthly Normal Retirement
Benefit be less than his or her accrued monthly Normal Retirement Benefit under
the FMC Plan as of December 31, 1990.

          3.1.3  Increases for Employee Contributions: A Participant's Normal
Retirement Benefit shall be increased $1 for each $120.00 of unwithdrawn
Employee Contributions and Interest credited to the Participant.

          3.1.4  Reductions for Certain Benefits: A Participant's Normal
Retirement Benefit shall be reduced by the value of (a) for FMC Participants,
the FMC Participant's vested benefit accrued under the FMC Plan as of November
30, 1985 (to the extent funded by an individual Aetna nonparticipating annuity)
and (b) any vested benefit payable to the Participant under the FMC Plan or any
pension, profit sharing or other retirement plan other than the Thrift Plan
(hereinafter called "Duplicate Benefit Plan") which is attributable to any
period which

                                       12

<PAGE>

counts as Credited Service under this Plan. For purposes of determining the
amount of the reduction, the vested benefit under the Duplicate Benefit Plan
shall be converted to a form which is identical to the form of benefit which is
to be paid under this Plan. Such conversion will be made using the actuarial
assumptions in effect (as shown on Exhibits E-1, E-2, E-3, and E-4, as amended
from time to time) as of the Annuity Starting Date. The value of the
Participant's vested benefit under the Duplicate Benefit Plan shall be
determined as of the earlier of such date or the date distribution of such
vested benefit was made or commenced.

3.2   Early Retirement Benefits
      -------------------------

          3.2.1  Early Retirement: A Participant who retires on or after the
Early Retirement Date shall be entitled to receive an Early Retirement Benefit
determined under Section 3.2.2. Payment of such benefit shall commence as of the
first of the month after the Participant retires or, if the Participant elects,
as of the first day of any subsequent month. Any such election of a deferred
commencement date may be revoked at any time prior to such date and a new date
may be elected by giving advance written notice to the Administrator in
accordance with rules prescribed by the Administrator.

          3.2.2  Calculation of Early Retirement Benefit: Subject to Sections
3.2.3 and 3.2.4, a Participant's monthly Early Retirement Benefit shall be equal
to the greater of (a) or (b) below:

          (a)    an amount determined pursuant to Section 3.1.2; and

          (b)    for an FMC Participant, his or her accrued monthly unreduced
                 Early Retirement Benefit under the FMC Plan as of December 31,
                 1990 that was transferred to the Plan in the FTI Spinoff.

          3.2.3  Early Retirement Reduction Factor: The Participant's Early
Retirement Benefit computed pursuant to Section 3.2.2 shall be reduced by 1/3 of
1% for each month in excess of 36 by which the commencement of the Participant's
Early Retirement Benefit precedes the Participant's 65th birthday.

          3.2.4  Adjustments to Early Retirement Benefit: A Participant's Early
Retirement Benefit shall be increased as provided in Section 3.1.3 except that
the number of dollars of unwithdrawn Employee Contributions and Interest
required to provide $1 of monthly retirement benefits shall be increased by $3
for each full year by which the commencement of the Participant's Early
Retirement Benefit precedes the Participant's Normal Retirement Date.

3.3   Deferred Retirement Benefits
      ----------------------------

          3.3.1  Deferred Retirement: A Participant who retires after the Normal
Retirement Date shall be entitled to receive a Normal Retirement Benefit
determined under Section 3.1.2 commencing as of the first day of the month
coinciding with or next following the date the Participant actually retires.
Each Participant shall accrue additional benefits hereunder after the
Participant's Normal Retirement Date with respect to the portion of the Normal
Retirement Benefit which is attributable to contributions by the Company, and
the amount of

                                       13

<PAGE>

Employee Contributions and Interest required to provide $1 of monthly retirement
benefit under Section 3.1.3 shall be decreased by $3 for each full year by which
the commencement of the Normal Retirement Benefit follows the Normal Retirement
Date.

          3.3.2  Distribution Requirements: Except as hereinafter provided,
unless the Participant elects otherwise in accordance with the terms of the
Plan, payment of a Participant's retirement benefits will begin no later than 60
days after the close of the Plan Year in which the latest of the following
events occurs:

          (a)    the Participant's 65th birthday;

          (b)    the 10th anniversary of the year in which the Participant
                 commenced participation in the Plan; and

          (c)    the Participant terminates employment with the Company and all
                 Affiliates.

          If the amount of the payment required to commence on the date
determined under this Section 3.3.2 cannot be ascertained by such date, or if it
is not possible to make such payment on such date because the Administrator
cannot locate the Participant after making reasonable efforts to do so, a
payment retroactive to such date may be made no later than 60 days after the
earliest date on which the amount of such payment can be ascertained under this
Plan or the date the Participant is located.

          Notwithstanding any other provision of this Plan:

          (i)   the accrued benefit of a Participant who attains age 70-1/2 on
                or after January 1, 2000 must be distributed or commence to be
                distributed no later than the April 1 following the later of (1)
                the calendar year in which the Participant attains age 70-1/2 or
                (2) the calendar year in which the Participant retires (unless
                the Participant is a 5% owner, as defined in Code Section 416,
                of the Company with respect to the Plan Year in which the
                Participant attains age 70-1/2, in which case this Subsection
                (2) shall not apply); and

          (ii)  the accrued benefit of a Participant who attains age 70-1/2
                prior to January 1, 2000 must be distributed or commence to be
                distributed no later than the April 1 following the calendar
                year in which the Participant attains age 70-1/2 unless the
                Participant is not a 5% owner (as defined in Subsection (i)) and
                elects to defer distribution to the calendar year in which the
                Participant retires.

          All Plan distributions will comply with Code Section 401(a)(9),
including Department of Treasury Regulation Section 1.401(a)(9)-2.

3.4   Suspension of Benefits
      ----------------------

                                       14

<PAGE>

          3.4.1  Prior to Normal Retirement Date: If a Participant receives
retirement benefits under the Plan following a termination of his employment
prior to the Participant's Normal Retirement Date and again becomes an Employee
prior to the Participant's Normal Retirement Date, no retirement benefits shall
be paid during such later period of employment and up to the Participant's
Normal Retirement Date. Any benefits payable under the Plan to or on behalf of
the Participant at the time of the Participant's subsequent termination of
employment shall be reduced by the actuarial equivalent (based on the
assumptions in Exhibit E-4) of any benefits paid to the Participant after the
Participant earlier termination and prior to his Normal Retirement Date.

          3.4.2  After Normal Retirement Date: If (a) a Participant whose
employment terminates again becomes an Employee after the Participant's Normal
Retirement Date, or again becomes an Employee prior to the Participant's Normal
Retirement Date and continues in employment beyond the Participant's Normal
Retirement Date, or (b) a Participant continues in employment with the Company
and Affiliates after his Normal Retirement Date without a prior termination, the
following provisions of this Section 3.4.2 shall become applicable to the
Participant as of the Participant's Normal Retirement Date or, if later, the
Participant's date of reemployment.

          (i)    For purposes of this Section 3.4.2, the following definitions
                 shall apply:

                 (1)  Postretirement Date Service means each calendar month
                      ---------------------------
                      after a Participant's Normal Retirement Date and
                      subsequent to the time that:

                      (A)  payment of retirement benefits commenced to the
                           Participant if the Participant returned to employment
                           with the Company and Affiliates, or

                      (B)  payment of retirement benefits would have commenced
                           to him if the Participant had not remained in
                           employment with the Company and Affiliates,

                      if in either case the Participant receives pay from the
                      Company and Affiliates for any Hours of Service performed
                      on each of 8 or more days (or separate work shifts) in
                      such calendar month.

                 (2)  Suspendable Amount means the monthly retirement benefits
                      ------------------
                      otherwise payable in a calendar month in which the
                      Participant is engaged in Postretirement Date Service.

          (ii)   Payment shall be permanently withheld of a portion of a
                 Participant's retirement benefits, not in excess of the
                 Suspendable Amount, for each calendar month during which the
                 Participant is employed in Postretirement Date Service.

                                       15

<PAGE>

          (iii)  If payments have been suspended pursuant to Subsection (ii)
                 above, such payments shall resume no later than the first day
                 of the third calendar month after the calendar month in which
                 the Participant ceases to be employed in Postretirement Date
                 Service; provided, however, that no payments shall resume until
                 the Participant has complied with the requirements set forth in
                 Subsection (vi) below. The initial payment upon resumption
                 shall include the payment scheduled to occur in the calendar
                 month when payments resume and any amounts withheld during the
                 period between the cessation of Postretirement Date Service and
                 the resumption of payment, less any amounts that are subject to
                 offset pursuant to Subsection (iv) below.

          (iv)   Retirement benefits made subsequent to Postretirement Date
                 Service shall be reduced by (1) the actuarial equivalent (based
                 on the assumptions in Exhibit E-4) of any benefits paid to the
                 Participant prior to the time the Participant is reemployed
                 after the Participant's Normal Retirement Date; and (2) the
                 amount of any payments previously made during those calendar
                 months in which the Participant was engaged in Postretirement
                 Date Service; provided, however, that such reduction under
                 (Subsection (2)) shall not exceed, in any one month, 25%
                 percent of that month's total retirement benefits (excluding
                 amounts described in Subsection (ii) above) that would have
                 been due but for the offset.

          (v)    Any Participant whose retirement benefits are suspended
                 pursuant to Subsection (ii) of this Section 3.4.2 shall be
                 notified (by personal delivery or certified or registered mail)
                 during the first calendar month in which payments are withheld
                 that the Participant's retirement benefits are suspended. Such
                 notification shall include:

                 (1)  a description of the specific reasons for the suspension
                      of payments;

                 (2)  a general description of the Plan provisions relating to
                      the suspension;

                 (3)  a copy of the provisions;

                 (4)  a statement to the effect that applicable Department of
                      Labor Regulations may be found at Section 2530.203-3 of
                      Title 29 of the Code of Federal Regulations;

                 (5)  the procedure for appealing the suspension, which
                      procedure shall be governed by Section 12.11; and

                 (6)  the procedure for filing a benefits resumption
                      notification pursuant to Subsection (vi) below.

                                       16

<PAGE>

                 If payments subsequent to the suspension are to be reduced by
                 an offset pursuant to Subsection (iv) above, the notification
                 shall specifically identify the periods of employment for which
                 the amounts to be offset were paid, the Suspendable Amounts
                 subject to offset, and the manner in which the Plan intends to
                 offset such Suspendable Amounts.

          (vi)   Payments shall not resume as set forth in Subsection (iii)
                 above until a Participant performing Postretirement Date
                 Service notifies the Administrator in writing of the cessation
                 of such Service and supplies the Administrator with such proof
                 of the cessation as the Administrator may reasonably require.

          (vii)  A Participant may request, pursuant to the procedure contained
                 in Section 12.11, a determination whether specific contemplated
                 employment will constitute Postretirement Date Service.

3.5   Benefit Limitations
      -------------------

          3.5.1  Limitation on Accrued Benefit: Notwithstanding any other
provision of the Plan, the annual benefit payable under the Plan to a
Participant, when expressed as a monthly benefit commencing at the Participant's
Social Security Retirement Age (as defined in Code Section 415(b)(8)), shall not
exceed the lesser of (a) $7,500 or (b) the highest average of the Participant's
monthly compensation for 3 consecutive calendar years, subject to the following:

          (i)    The maximum shall apply to the Individual Life Annuity computed
                 under Section 3.1, 3.2, 3.3 or Article IV and to that portion
                 of the 50% Joint and Survivor's Annuity payable to the
                 Participant during the Participant's lifetime.

          (ii)   If a Participant has fewer than 10 years of participation in
                 the Plan, the maximum dollar limitation of Subsection (a) above
                 shall be multiplied by a fraction of which the numerator is the
                 Participant's actual years of participation in the Plan
                 (computed to fractional parts of a year) and the denominator is
                 10. If a Participant has fewer than 10 Years of Vesting
                 Service, the maximum compensation limitation in Subsection (b)
                 above shall be multiplied by a fraction of which the numerator
                 is the Years of Vesting Service (computed to fractional parts
                 of a year) and the denominator is 10. Provided, however, that
                 in no event shall such dollar or compensation limitation, as
                 applicable, be less than 1/10th of such limitation determined
                 without regard to any adjustment under this Subsection (ii).

          (iii)  As of January 1 of each year, 1/12th of the dollar limitation
                 as determined by the Commissioner of Internal Revenue for that
                 calendar year to reflect increases in the cost of living shall
                 become effective as the maximum dollar limitation in Subsection
                 (a) above for the Plan Year ending within that calendar year
                 for Participants terminating in or after such Plan Year.

                                       17

<PAGE>

          (iv)   The dollar limitation under Subsection (a) above shall be
                 modified as follows to reflect commencement of retirement
                 benefits on a date other than the Participant's Social Security
                 Retirement Age:

                 (1)  if the Participant's Social Security Retirement Age is 65,
                      the dollar limitation for benefits commencing on or after
                      age 62 is determined by reducing the dollar limitation
                      under Subsection (a) above by 5/9ths of 1% for each month
                      by which benefits commence before the month in which the
                      Participant attains age 65;

                 (2)  if the Participant's Social Security Retirement Age is
                      greater than 65, the dollar limitation for benefits
                      commencing on or after age 62 is determined by reducing
                      the dollar limitation under Subsection (a) above by 5/9ths
                      of 1% for each of the first 36 months and by 5/12ths of 1%
                      for each of the additional months by which benefits
                      commence before the month in which the Participant attains
                      the Participant's Social Security Retirement Age;

                 (3)  if the Participant's benefit commences prior to age 62,
                      the dollar limitation shall be the actuarial equivalent of
                      Subsection (a) above, payable at age 62, as determined
                      above, reduced for each month by which benefits commence
                      before the month in which the Participant attains age 62.
                      The interest rate for determining Actuarial Equivalence
                      shall be the greater of the interest rate assumption under
                      the Plan for determining early retirement benefits or 5%
                      per year. The mortality basis for determining Actuarial
                      Equivalence for terminations on or after January 1, 1985
                      shall be the 1983 Group Annuity Mortality Table (weighted
                      50% male and 50% female);

                 (4)  in the case of a Participant whose retirement benefit
                      commences after the Participant's Social Security
                      Retirement Age, the dollar limitation shall be the
                      Actuarial Equivalent of Subsection (a) above payable at
                      the Participant's Social Security Retirement Age, using
                      the lesser of the interest rate assumption under the Plan
                      or 5% per year. The mortality basis for determining
                      Actuarial Equivalence for terminations on or after January
                      1, 1985 shall be the 1983 Group Annuity Mortality Table
                      (weighted 50% male and 50% female).

          (v)    Notwithstanding the foregoing, the maximum as applied to any
                 FMC Participant on April 1, 1987 shall in no event be less than
                 the FMC Participant's "current accrued benefit" as of March 31,
                 1987, under the FMC Plan, as that term is defined in Section
                 1106 of the Tax Reform Act of 1986.

          (vi)   The maximum shall apply to the benefits payable to a
                 Participant under the Plan and all other tax-qualified defined
                 benefit plans of the Company and

                                       18

<PAGE>

                 Affiliates (whether or not terminated), and benefits shall be
                 reduced, if necessary, in the reverse of the chronological
                 order of participation in such plans.

          3.5.2  Multiple Plan Reduction: With respect to each FMC Participant
who did not have 1 Hour of Service after December 31, 1999 and who is (or has
been) a participant in any defined contribution plan (whether or not terminated)
maintained by FMC, the Company or an Affiliate, the sum of the FMC Participant's
defined benefit plan fraction (as defined under Code Section 415(e)(2)) and
defined contribution plan fraction (as defined under Code Section 415(e)(3))
shall not exceed 1. If such sum exceeds 1, the FMC Participant's defined benefit
plan fraction shall be reduced until such sum equal 1.

          3.5.3  Annual Compensation Limit: The accrued benefit of each "Section
401(a)(17) employee" under this Plan will be the greater of the accrued benefit
determined for the Employee under (a) or (b) below:

          (a)    the Employee's accrued benefit determined with respect to the
                 benefit formula applicable for the Plan Year beginning on or
                 after January 1, 1994, as applied to the Employee's total Years
                 of Credited Service, or

          (b)    the sum of:

                 (i)  the Employee's accrued benefit as of the last day of the
                      last Plan Year beginning before January 1, 1994, frozen in
                      accordance with section 1.401(a)(4)-13 of the regulations
                      under the Code, and

                 (ii) the Employee's accrued benefit determined under the
                      benefit formula applicable for the Plan Year beginning on
                      or after January 1, 1994, as applied to the Employee's
                      Years of Credited Service credited to the Employee for
                      Plan Years beginning on or after January 1, 1994.

          A "Section 401(a)(17) employee" means an Employee whose current
          accrued benefit as of a date on or after the first day of the first
          Plan Year beginning on or after January 1, 1994, is based on Earnings
          for a year beginning prior to January 1, 1994 that exceeded $150,000.

3.6   FMC Participants' Benefits
      --------------------------

          The Normal Retirement Benefit, Early Retirement Benefit and
Termination Benefit for each FMC Participant who is not an Employee and who does
not complete an Hour of Service on or after May 1, 2001 shall, notwithstanding
the provisions of Sections 3.1, 3.2, 3.3 or 4.2 hereof, equal the accrued
benefit of such FMC Participant as transferred from the FMC Plan in the FTI
Spinoff.

                                       19

<PAGE>

                                   ARTICLE IV

                              Termination Benefits
                              --------------------

4.1   Termination of Service
      ----------------------

          Except as otherwise provided in the applicable Supplement, a
Participant who has 5 Years of Vesting Service but who ceases to be an Employee
before the Participant's Early Retirement Date for any reason other than death,
shall be entitled to receive a "Termination Benefit" determined under Section
4.2. Except as otherwise provided in the applicable Supplement, unless the
Participant elects otherwise subject to Section 3.3.2, payment of such benefit
shall commence as of the first day of the month coincident with or next
following the Participant's Normal Retirement Date or, if the Participant
elects, as of the first day of any month before such Normal Retirement Date and
coincident with or following the Participant's 55th birthday. Any such election
of the earlier Annuity Starting Date shall be made by giving advance written
notice to the Administrator in accordance with rules prescribed by the
Administrator. Except as provided in Article V and Article VII, no benefits
shall be payable to any person if the Participant dies prior to the Annuity
Starting Date. A terminated Participant who has no vested interest in the
Participant's accrued benefit shall be deemed to have received a distribution of
the Participant's entire vested benefit. The Committee or its delegatee may, in
its discretion, fully vest a Participant in the Participant's accrued benefit in
the event the Participant's employment with the Company is affected by a
transaction undertaken by the Company.

4.2   Amount of Termination Benefit
      -----------------------------

Except as otherwise provided in the applicable Supplement or in Section 3.6, a
Participant's monthly Termination Benefit shall be determined pursuant to
Sections 3.1.2 and 3.1.3 as in effect on the date the Participant terminates
employment, except that the following adjustments shall be made if payment of
the Participant's Termination Benefit is to commence before the Normal
Retirement Date:

          (a)   the amount computed pursuant to Section 3.1.2 shall be reduced
                by 1/2 of 1% for each month between the Annuity Starting Date
                and the Normal Retirement Date;

          (b)   the amount of Employee Contributions and Interest required to
                provide $1 of monthly retirement benefit under Section 3.1.3
                shall be increased by $3 for each full year by which the Annuity
                Starting Date precedes the Normal Retirement Date;

          (c)   notwithstanding Subsection (a) of this Section 4.2, the amounts
                computed pursuant to Section 3.1.2 shall be reduced by 1/3 of 1%
                for each month in excess of 36 by which the Annuity Starting
                Date precedes the Participant's 62nd birthday if:

                (i)  the  Participant's  combined age and Years of Vesting
                     Service equal at least 65, and the Participant ceases to be
                     an Employee (1) because

                                       20

<PAGE>

                    of the permanent shutdown of a single site of employment or
                    one or more facilities or operating units within a single
                    site of employment or (2) in connection with a permanent
                    reduction in force; or

               (ii) the Participant has Years of Vesting Service attributable to
                    employment before January 1, 1989, has attained age 40, and
                    permanently ceases to be an Employee because of the
                    permanent shutdown of a single site of employment, resulting
                    in the termination of employment of not more than 20
                    Participants at that employment site.

                Notwithstanding any contrary provision of the Plan, for purposes
                of determining a Participant's total combined age and Years of
                Vesting Service under Section 4.2(c)(i), a partial month of age
                or Period of Service shall be counted as a whole month, and
                fractional years of age and Years of Vesting Service shall be
                taken into account.

          (d)   A Participant covered under Subsection (c) of this Section 4.2
                who has 10 Years of Credited Service shall have added to his age
                the period of time during which he is receiving severance pay
                from the Company.

                                       21

<PAGE>

                                    ARTICLE V

                        Refund of Employee Contributions
                        --------------------------------

5.1   Employee Contributions
      ----------------------

          No Employee Contributions are permitted to be made to this Plan.
However, Employee Contributions which were transferred from the FMC Plan are
held under this Plan for the FMC Participants.

5.2   Withdrawal of Employee Contributions
      ------------------------------------

          A FMC Participant may withdraw all of the FMC Participant's Employee
Contributions, plus Interest thereon to the date of withdrawal, at any time
before payment of a monthly retirement benefit commences by giving advance
written notice to the Administrator in accordance with procedures prescribed by
the Administrator. No partial withdrawal of Employee Contributions and Interest
shall be permitted.

          Payment of the FMC Participant's Employee Contributions plus Interest
shall be in the normal form of benefit (50% Joint and Survivor's Annuity for a
married FMC Participant, Individual Life Annuity for an unmarried FMC
Participant) unless the FMC Participant waives such annuity (with the consent of
the FMC Participant's spouse, if the FMC Participant is married, in accordance
with Section 6.3) and elects payment in a single sum.

5.3   Refund Upon Death Before Annuity Starting Date
      ----------------------------------------------

          If a FMC Participant dies before the Annuity Starting Date, the FMC
Participant's Beneficiary shall receive in a lump sum a refund of the FMC
Participant's unwithdrawn Employee Contributions and Interest. The refund shall
be made as soon as reasonably practicable after the date of the FMC
Participant's death, and Interest shall be computed to the date when the refund
is paid.

5.4   Refund After Annuity Starting Date
      ----------------------------------

          If a FMC Participant dies after the Annuity Starting Date, there shall
be paid to his or her Beneficiary the difference, if any, between such FMC
Participant's Employee Contributions and Interest as of the Annuity Starting
Date and:

          (a)   if the FMC Participant elected an Individual Life Annuity or a
                Level Income Option, the portion of the benefits which the FMC
                Participant has received which are attributable to Employee
                Contributions and Interest;

                                       22

<PAGE>

                  (b)      if the FMC Participant elected any other form of
                           benefit, the portion of the benefits received by the
                           FMC Participant and the FMC Participant's Joint
                           Annuitant which are attributable to Employee
                           Contributions and Interest.

                  Any payment pursuant to (a) above shall be made as soon as
reasonably practicable after the FMC Participant's death. Any payment pursuant
to (b) above shall be made as soon as reasonably practicable after all other
benefit payments to the Joint Annuitant have ceased.

                                       23

<PAGE>

                                   ARTICLE VI

                         Payment of Retirement Benefits
                         ------------------------------

6.1      Normal Form of Benefit
         ----------------------

               Except as otherwise provided in the applicable Supplement, a
Participant's benefit shall be paid in the form of a 50% Joint and Survivor's
Annuity, with the Participant's spouse as Joint Annuitant if the Participant is
married on the Annuity Starting Date, and in the form of an Individual Life
Annuity if the Participant is not married on the Annuity Starting Date, unless
the Participant elects with spousal consent not to receive payments pursuant to
this 6.1 and to receive payments in one of the optional forms permitted under
Section 6.2. An election not to receive the normal form of benefit and to
receive payment in any optional form shall satisfy the applicable requirements
of Section 6.3.

6.2      Available Forms of Benefits
         ---------------------------

               A Participant may elect with spousal consent and in accordance
with Section 6.3, to receive the Participant's benefits in any one of the forms
of benefits described in this Section 6.2.

               6.2.1  Individual  Life Annuity:  An Individual Life Annuity is
an immediate annuity which provides equal monthly payments for the Participant's
life only.

               6.2.2  50% Joint and Survivor's Annuity: A 50% Joint and
Survivor's Annuity is an immediate annuity which is the actuarial equivalent of
an Individual Life Annuity (determined in accordance with Exhibit E-1), but
which provides a smaller monthly annuity for the Participant's life than an
Individual Life Annuity. After the Participant's death, 50% of such reduced
annuity will, subject to Section 6.2, be paid to the Participant's surviving
Joint Annuitant for such Joint Annuitant's life.

               6.2.3  100% Joint and Survivor's Annuity: A 100% Joint and
Survivor's Annuity is an immediate annuity which is the actuarial equivalent of
an Individual Life Annuity (determined in accordance with Exhibit E-2), but
which provides a smaller monthly annuity for the Participant's life than an
Individual Life Annuity. After the Participant's death, 100% of such reduced
annuity will continue to be paid to the Participant's surviving Joint Annuitant
for such Joint Annuitant's life.

               6.2.4  Level Income Option: The Level Income Option provides
greater monthly annuity payments prior to the Participant's 62nd birthday
(determined in accordance with Exhibit E-3) and after such birthday provides
reduced monthly annuity payments in an amount which, when added to the Primary
Social Security Benefits which the Participant could elect to receive,
approximately equals the amount of the monthly annuity paid prior to the
Participant's 62nd birthday. A Participant who is entitled to an Early
Retirement Benefit under

                                       24

<PAGE>

Section 3.2 and who elects to have such benefit commence prior to age 62 may
elect the Level Income Option, unless the Primary Social Security Benefits which
the Participant could elect to receive at age 62 would equal or exceed the
amount of the monthly annuity payments prior to age 62 or unless the Participant
is receiving Social Security disability benefits. Such election shall be subject
to the approval of the Participant's spouse, given in accordance with the
requirements for spousal consent under Section 6.3.

6.3       Election of Benefits
          --------------------

               6.3.1  The Administrator shall provide each Participant with a
written notice containing the following information:

               (a)    a general description of the normal form of benefit
 payable under the Plan;

               (b)    the Participant's right to make and the effect of an
                      election to waive the normal form of benefit;

               (c)    the right of the Participant's spouse not to consent to
                      the Participant's election under Section 6.1;

               (d)    the right of Participant to revoke such election, and
                      the effect of such revocation;

               (e)    the optional forms of benefits available under the
                      Plan; and

               (f)    the Participant's right to request in writing information
                      on the particular financial effect of an election by the
                      Participant to receive an optional form of benefit in lieu
                      of the normal form of benefit.

               6.3.2  The notice under Section 6.3.1 shall be provided to the
Participant at each of the following times as shall be applicable to him:

               (a)    not more than 90 days and not less than 30 days after a
                      Participant who is in the employ of the Company or an
                      Affiliate gives notice of the Participant's intention to
                      terminate employment and commence  receipt of the
                      Participant's retirement benefits under the Plan; or

               (b)    not more than 90 days and not less than 30 days prior to
                      the attainment of age 65 of a Participant (whether or not
                      the Participant has terminated employment) who has not
                      previously commenced receiving retirement benefits.

               The election period in Section 6.3.3 for a Participant who
requests additional information during the election period will be extended
until 90 days after the additional information is mailed or personally
delivered. Any such request shall be made only within 90 days after the date the
information described in Section 6.3.1 is given to the Participant, and the
Administrator shall not be obligated to comply with more than one such request.
Any

                                       25

<PAGE>

information provided pursuant to this Section 6.3.2 will be given to the
Participant within 30 days after the date of the Participant's request and will
be based upon the estimated benefits to which the Participant will be entitled
as of the later of the first day on which such benefits could commence or the
last day of the Plan Year in which the Participant's request is received. If a
Participant files an election (or revokes an election) pursuant to this Section
6.3 less than 60 days prior to the Annuity Starting Date, such Participant's
initial payments may be delayed for administrative reasons. In such event, the
payments shall begin as soon as practicable and shall be made retroactively to
such date.

                  6.3.3    A Participant may make the election provided in
Section 6.3 by filing the prescribed form with the Administrator at any time
during the election period. The election period shall begin 90 days prior to the
Participant's Annuity Starting Date. Such election shall be subject to the
written consent of the Participant's spouse, acknowledging the effect of the
election and witnessed by a Plan representative or a notary public. Such spousal
consent shall not be required if the Participant establishes to the satisfaction
of the Administrator that the consent of the spouse may not be obtained because
there is no spouse or the spouse cannot be located. A spouse's consent shall be
irrevocable. The election in Section 6.3 may be revoked or changed at any time
during the election period but shall be irrevocable thereafter.

                  6.3.4    Notwithstanding Section 6.3.3:

                  (a)      distribution of benefits may commence less than 30
                           days after the notice required  pursuant to Section
                           6.3.1 is provided if:

                           (i)   the Participant elects to waive the requirement
                                 that notice be given at least 30 days prior to
                                 the Annuity Starting Date; and

                           (ii)  the distribution commences more than 7 days
                                 after such notice is provided.

                  (b)      The notice described in Section 6.3.1 may be provided
                           after the Annuity Starting Date, in which case the
                           applicable election period shall not end before the
                           30th day after the date on which such notice is
                           provided, unless the Participant elects to waive the
                           30-day notice requirements pursuant to Subsection (a)
                           above.

6.4      Joint Annuitants
         ----------------

                  A Participant who elects a joint and survivor's annuity shall
designate a Joint Annuitant when making such an election. A Participant may
designate any individual as the Joint Annuitant; provided, however, that the
Joint Annuitant shall be the Participant's spouse unless the Participant's
spouse consents to the designation of another individual in accordance with the
requirements for spousal consent under Section 6.3.3. A designation of a Joint
Annuitant may be revoked or changed at any time during the applicable election
period described in Section 6.3.3 but shall become irrevocable thereafter. If
the Joint Annuitant dies on or after the Annuity Starting Date the Participant
shall continue to receive the reduced monthly annuity.

                                       26

<PAGE>

6.5    FMC Participants in Pay Status
       ------------------------------

             Notwithstanding any provision in the Plan to the contrary, each FMC
Participant who had elected to receive and/or was receiving their normal
retirement benefit, early retirement benefit, deferred retirement benefit or
termination benefit under the FMC Plan prior to the Effective Date shall on and
after the Effective Date continue to receive such benefits in the same form, and
in the same amount as such FMC Participant and/or, as applicable, FMC Joint
Annuitant, was receiving or would have received under the FMC Plan prior to the
Effective Date as if such benefits were paid by the FMC Plan. In addition, each
FMC Beneficiary who was receiving benefits under the FMC Plan on behalf of an
FMC Participant prior to the Effective Date shall continue to receive such
benefits from this Plan after the Effective Date in the same form and in the
same amount as if such benefits were paid by the FMC Plan.

                                       27

<PAGE>

                                   ARTICLE VII

                               Survivor's Benefits
                               -------------------

7.1    Preretirement Survivor's Benefit
       --------------------------------

                   7.1.1   Eligibility: If a Participant who continues to be
employed by the Company at any time on or after attaining age 55 and 10 Years of
Credited Service dies (whether or not so employed on the date of death) before
the Annuity Starting Date, then such Participant's surviving Joint Annuitant (if
any) shall be entitled to receive a survivor's benefit for life, determined
under Section 7.2. Payment of such benefit shall commence as of the first day of
the month coincident with or next following the date of the Participant's death.

                   7.1.2   Amount of Preretirement Survivor's Benefit: The
preretirement survivor's benefit under this Section 7.1 shall be computed as
follows:

                   (a)     If the Participant's Period of Service has not
                           terminated before the Participant's death, the
                           survivor's benefit shall be equal to the benefit
                           which would have been paid to the Participant's Joint
                           Annuitant if the Participant's Period of Service had
                           terminated on the date of death, benefits in the form
                           of a 50% Joint and Survivor's Annuity commenced as of
                           the first day of the next following month, and the
                           Participant died on such day.

                   (b)     If the Participant's Period of Service has terminated
                           before the Participant's death but the Participant
                           has deferred the commencement of the Early Retirement
                           Benefit, the survivor's benefit shall be equal to the
                           benefit which the Participant's Joint Annuitant would
                           have been paid if the Participant had elected a 50%
                           Joint and Survivor's benefit commencing as of the
                           first day of the month next following the date of the
                           Participant's death.

                   (c)     The survivor's benefit payable pursuant to this
                           Section 7.1.2 shall exclude any retirement benefit
                           based upon Employee Contributions and Interest (which
                           will be refunded upon the Participant's death, to the
                           extent provided in Article V).

                   7.1.3   Designation of Joint Annuitant Other Than Spouse: A
participant may elect at any time during the Election Period (as defined in
Section 7.1.5) to waive the Preretirement Survivor Annuity and to revoke any
such election at any time during the Election Period. Any election by a
Participant to waive the Preretirement Survivor Annuity shall not take effect
unless the Participant's spouse consents in writing to such election, such
consent acknowledges the effect of such an election and the consent is witnessed
by a representative of the Plan or a notary public, unless the Participant
establishes to the satisfaction of the Committee

                                       28

<PAGE>

that such consent may not be obtained because there is no spouse, the spouse
cannot be located or because of such other circumstances as the Secretary of the
Treasury may by regulations prescribe. The consent by a spouse shall be
irrevocable and shall be effective only with respect to that spouse.

               7.1.4   Explanation of Preretirement Survivor's Benefit: The
Committee shall provide each Participant with a written explanation with respect
to the Preretirement Survivor Annuity as soon as administratively feasible after
the Participant attains age 55. The explanation shall include:

               (a)     the terms and conditions of the Preretirement Survivor
                       Annuity,

               (b)     the Participant's right to make, and the effect of, an
                       election to waive the Preretirement Survivor Annuity,

               (c)     the rights of the Participant's spouse in connection
                       therewith, and

               (d)     the right to make, and the effect of, the revocation of
                       an election to waive the Preretirement Survivor Annuity.

               7.1.5   Election Period: For purposes of this Section 7.1.5, the
term "Election Period" means the period that begins on the Participant's 55th
birthday and ends on the date of the Participant's death.

7.2      Surviving Spouse's Benefit
         --------------------------

               If a Participant who has 5 or more Years of Vesting Service but
does not meet the requirements for the preretirement survivor's benefit under
Section 7.1 dies before the Annuity Starting Date, then such Participant's
surviving spouse (if any) shall be entitled to receive a survivor's benefit for
life. The amount of such survivor's benefit shall be determined pursuant to
Section 4.2 based upon the Participant's age and Years of Credited Service on
the date of the Participant's death and paid in the form of a 50% Joint and
Survivor's Annuity as if the Participant had died on the date such benefits
commenced. The survivor's benefit payable pursuant to this Section 7.2 shall
exclude any retirement benefit based upon Employee Contributions and Interest
(which will be refunded upon the Participant's death to the extent provided in
Article V). Payment of the survivor's benefit shall commence on the first day of
the month coincident with or next following the later of the Participant's 55th
birthday or his death, unless the Participant's spouse elects to commence
payment of benefits as of the first day of any subsequent month, but not later
than the Participant's Normal Retirement Date.

7.3      Certain Former Employees
         ------------------------

                  FMC Participants who have 10 Years of Vesting Service but who
have not been credited with an Hour of Service on or after August 23, 1984 and
are not receiving benefits on that date shall be entitled to elect survivor's
benefits only as follows:

                                       29

<PAGE>

                  (a)      If the FMC Participant was credited with an Hour of
                           Service under the FMC Plan or a predecessor plan on
                           or after September 2, 1974, but is not otherwise
                           credited with an Hour of Service in a Plan Year
                           beginning on or after January 1, 1976, under the FMC
                           Plan or this Plan, the Participant shall be afforded
                           an opportunity to elect payment of benefits in the
                           form of a 50% Joint and Survivor's Annuity.

                  (b)      If the Participant is credited with an Hour of
                           Service under this Plan, the FMC Plan or a
                           predecessor plan in a Plan Year beginning after
                           December 31, 1975, the Participant shall be afforded
                           the opportunity to elect a Surviving Spouse's Benefit
                           under Section 7.2.

                                       30

<PAGE>

                                  ARTICLE VIII

                                   Fiduciaries
                                   -----------

8.1   Named Fiduciaries
      -----------------

          8.1.1  The Company is the Plan sponsor and a "named fiduciary" with
respect to control over and management of the Plan's assets only to the extent
that it (a) shall appoint the members of the Committee which administers the
Plan at the Administrator's direction; (b) shall delegate its authorities and
duties as "plan administrator," as defined under ERISA, to the Committee; and
(c) shall continually monitor the performance of the Committee.

          8.1.2  The Company, as Administrator, and the Committee, which
administers the Plan at the Administrator's direction, are "named fiduciaries"
of the Plan, as that term is defined in ERISA Section 402(a)(2), with authority
to control and manage the operation and administration of the Plan. The
Administrator is also the "administrator" and "plan administrator" of the Plan,
as those terms are defined in ERISA Section 3(16)(A) and Code Section 414(g),
respectively.

          8.1.3  The Trustee is a "named fiduciary" of the Plan, as that term is
defined in ERISA Section 402(a)(2), with authority to manage and control all
Trust assets, except to the extent that authority is delegated to an Investment
Manager or to the extent the Administrator or the Committee directs the
allocation of Trust assets among general investment categories.

          8.1.4  The Company, the Administrator, and the Trustee are the only
named fiduciaries of the Plan.

8.2   Employment of Advisers
      ----------------------

          A named fiduciary, and any fiduciary appointed by a named fiduciary,
may employ one or more persons to render advice regarding any of the named
fiduciary's or fiduciary's responsibilities under the Plan.

8.3    Multiple Fiduciary Capacities
       -----------------------------

          Any named fiduciary and any other fiduciary may serve in more than one
fiduciary capacity with respect to the Plan.

8.4   Payment of Expenses
      -------------------

          All Plan expenses, including expenses of the Administrator, the
Committee, the Trustee, any Investment Manager and any insurance company, will
be paid by the Trust Fund, unless a Participating Employer elects to pay some or
all of those expenses.

                                       31

<PAGE>

8.5   Indemnification
      ---------------

          To the extent not prohibited by state or federal law, each
Participating Employer agrees to, and will indemnify and save harmless the
Administrator, any past, present, additional or replacement member of the
Committee, and any other employee, officer or director of that Participating
Employer, from all claims for liability, loss, damage (including payment of
expenses to defend against any such claim) fees, fines, taxes, interest,
penalties and expenses which result from any exercise or failure to exercise any
responsibilities with respect to the Plan, other than willful misconduct or
willful failure to act.

                                       32

<PAGE>

                                   ARTICLE IX

                               Plan Administration
                               -------------------

9.1   Powers, Duties and Responsibilities of the Administrator and the Committee
      --------------------------------------------------------------------------

          9.1.1  The Administrator and the Committee have full discretion and
power to construe the Plan and to determine all questions of fact or
interpretation that may arise under it. Interpretation of the Plan or
determination of questions of fact regarding the Plan by the Administrator or
the Committee will be conclusively binding on all persons interested in the
Plan.

          9.1.2  The Administrator and the Committee have the power to
promulgate such rules and procedures, to maintain or cause to be maintained such
records, and to issue such forms as they deem necessary or proper to administer
the Plan.

          9.1.3  Subject to the terms of the Plan, the Administrator and/or the
Committee will determine the time and manner in which all elections authorized
by the Plan must be made or revoked.

          9.1.4  The Administrator and the Committee have all the rights,
powers, duties and obligations granted or imposed upon them elsewhere in the
Plan.

          9.1.5  The Administrator and the Committee have the power to do all
other acts in the judgment of the Administrator or Committee necessary or
desirable for the proper and advantageous administration of the Plan.

          9.1.6  The Administrator and the Committee will exercise all
responsibilities in a uniform and nondiscriminatory manner.

9.2   Delegation of Administration Responsibilities
      ---------------------------------------------

          The Administrator and the Committee may designate by written
instrument one or more actuaries, accountants or consultants as fiduciaries to
carry out, where appropriate, their administrative responsibilities, including
their fiduciary duties. The Committee may from time to time allocate or delegate
to any subcommittee, member of the Committee and others, not necessarily
employees of the Company, any of its duties relative to compliance with ERISA,
administration of the Plan and other related matters, including those involving
the exercise of discretion. The Company's duties and responsibilities under the
Plan shall be carried out by its directors, officers and employees, acting on
behalf of and in the name of the Company in their capacities as directors,
officers and employees, and not as individual fiduciaries. No director, officer
nor employee of the Company shall be a fiduciary with respect to the Plan unless
he or she is specifically so designated and expressly accepts such designation.

                                       33

<PAGE>

9.3   Committee Members
      -----------------

          The Committee shall consist of not less than three people, who need
not be directors, and shall be appointed by the Chief Executive Officer of the
Company. Any Committee member may resign and the Chief Executive Officer may
remove any Committee member, with or without cause, at any time. A majority of
the members of the Committee shall constitute a quorum for the transaction of
business and the act of a majority of the Committee members at a meeting at
which a quorum is present shall be the act of the Committee. The Committee can
act by written consent signed by all of its members. Any members of the
Committee who are Employees shall not receive compensation for their services
for the Committee. No Committee member shall be entitled to act on or decide any
matter relating solely to his or her status as a Participant.

                                       34

<PAGE>

                                    ARTICLE X

                               Funding of the Plan
                               -------------------

10.1  Appointment of Trustee
      ----------------------

          The Committee or its authorized delegatee will appoint the Trustee and
either may remove it. The Trustee accepts its appointment by executing the Trust
Agreement. A Trustee will be subject to direction by the Committee or its
authorized delegatee or, to the extent specified by the Company, by an
Investment Manager, and will have the degree of discretion to manage and control
Plan assets specified in the Trust Agreement. Neither the Company nor any other
Plan fiduciary will be liable for any act or omission to act of a Trustee, as to
duties delegated to the Trustee.

10.2  Actuarial Cost Method
      ---------------------

          The Committee or its authorized delegatee shall determine the
actuarial cost method to be used in determining costs and liabilities under the
Plan pursuant to Section 301 et seq., of ERISA, and Section 412 of the Code. The
Committee or its authorized delegatee shall review such actuarial cost method
from time to time, and if it determines from review that such method is no
longer appropriate, then it shall petition the Secretary of the Treasury for
approval of a change of actuarial cost method.

10.3  Cost of the Plan
      ----------------

          Annually the Committee or its authorized delegatee shall determine the
normal cost of the Plan for the Plan Year and the amount (if any) of the
unfunded past service cost on the basis of the actuarial cost method established
for the Plan using actuarial assumptions which, in the aggregate, are
reasonable. The Committee or its authorized delegatee shall also determine the
contributions required to be made for each Plan Year by the Participating
Employers in order to satisfy the minimum funding standard (or alternative
minimum funding standard) for such Plan Year determined pursuant to Sections 302
through 305 of ERISA and Section 412 of the Code.

10.4  Funding Policy
      --------------

          The Participating Employers shall cause contributions to be made to
the Plan for each Plan Year in the amount necessary to satisfy the minimum
funding standard (or alternative minimum funding standard) for such Plan Year;
provided, however, that this obligation shall cease when the Plan is terminated.
In the case of a partial termination of the Plan, this obligation shall cease
with respect to those Participants, Joint Annuitants and Beneficiaries who are
affected by such partial termination. Each contribution is conditioned upon its
deductibility under Section 404 of the Code and shall be returned to the
Participating Employers within one year after the disallowance of the deduction
(to the extent disallowed). Upon the Company's written request, a contribution
that was made by a mistake of fact shall be returned to the Participating
Employer within one year after the payment of the contribution.

                                       35

<PAGE>

10.5  Cash Needs of the Plan
      ----------------------

          The Committee or its authorized delegatee from time to time shall
estimate the benefits and administrative expenses to be paid out of the Plan
during the period for which the estimate is made and shall also estimate the
contributions to be made to the Plan during such period by the Participating
Employers. The Committee or its authorized delegatee shall inform the Trustees
of the estimated cash needs of and contributions to the Plan during the period
for which such estimates are made. Such estimates shall be made on an annual,
quarterly, monthly or other basis, as the Committee shall determine.

10.6  Public Accountant
      -----------------

          The Committee or its authorized delegatee shall engage an independent
qualified public accountant to conduct such examinations and to render such
opinions as may be required by Section 103(a)(3) of ERISA. The Committee or its
authorized delegatee in its discretion may remove and discharge the person so
engaged, but in such case it shall engage a successor independent qualified
public accountant to perform such examinations and to render such opinions.

10.7  Enrolled Actuary
      ----------------

          The Committee or its authorized delegatee shall engage an enrolled
actuary to prepare the actuarial statement described in Section 103(d) of ERISA
and to render the opinion described in Section 103(a)(4) of ERISA. The Committee
or its authorized delegatee in its discretion may remove and discharge the
person so engaged, but in such event it shall engage a successor enrolled
actuary to perform such examination and render such opinion.

10.8  Basis of Payments to the Plan
      -----------------------------

          All contributions to the Plan shall be made by the Participating
Employers, and no contributions shall be required of or permitted by
Participants. From time to time the Participating Employers shall make such
contributions to the Plan as the Company determines to be necessary or desirable
in order to fund the benefits provided by the Plan, and any expenses thereof
which are paid out of the Trust Fund and in order to carry out the obligations
of the Participating Employers set forth in Section 10.3. All contributions to
the Plan shall be held by the Trustee in accordance with the Trust Agreement.

10.9  Basis of Payments from the Plan
      -------------------------------

          All benefits payable under the Plan shall be paid by the Trustee out
of the Trust Fund pursuant to the directions of the Administrator or the
Committee and the terms of the Trust Agreement. The Trustee shall pay all proper
expenses of the Plan and the Trust Fund out of the Trust Fund, except to the
extent paid by the Participating Employers.

                                       36

<PAGE>

                                   ARTICLE XI

                          Plan Amendment or Termination
                          -----------------------------

11.1  Plan Amendment or Termination
      -----------------------------

          The Company may amend, modify or terminate the Plan at any time by
resolution of the Board or by resolution of or other action recorded in the
minutes of the Administrator or the Committee. Execution and delivery by the
Chairman of the Board, the President, any Vice President of the Company or the
Committee of an amendment to the Plan is conclusive evidence of the amendment,
modification or termination.

11.2  Limitations on Plan Amendment
      -----------------------------

          No Plan amendment can:

          (a)  authorize any part of the Trust Fund to be used for, or diverted
               to, purposes other than the exclusive benefit of Participants or
               their Joint Annuitants and Beneficiaries;

          (b)  decrease the accrued benefits of any Participant or his or her
               Joint Annuitant or Beneficiary under the Plan; or

          (c)  except to the extent permitted by law, eliminate or reduce an
               early retirement benefit or retirement-type subsidy (as defined
               in Code Section 411) or an optional form of benefit with respect
               to service prior to the date the amendment is adopted or
               effective, whichever is later.

11.3  Effect of Plan Termination
      --------------------------

          Upon termination of the Plan, each Participant's rights to benefits
accrued hereunder shall be vested and nonforfeitable, and the Trust shall
continue until the Trust Fund has been distributed as provided in Section 11.4.
Any other provision hereof notwithstanding, the Participating Employers shall
have no obligation to continue making contributions to the Plan after
termination of the Plan. Except as otherwise provided in ERISA, neither the
Participating Employers nor any other person shall have any liability or
obligation to provide benefits hereunder after such termination in excess of the
value of the Trust Fund. Upon such termination, Participants, Joint Annuitants,
and Beneficiaries shall obtain benefits solely from the Trust Fund. Upon partial
termination of the Plan, this Section 11.3 shall apply only with respect to such
Participants, Joint Annuitants and Beneficiaries as are affected by such partial
termination.

                                       37

<PAGE>

11.4  Allocation of Trust Fund on Termination
      ---------------------------------------

          On termination of the Plan, the Trust Fund shall be allocated by the
Administrator on an actuarial basis among Participants, Joint Annuitants and
Beneficiaries in the manner prescribed by Section 4044 of ERISA. Any residual
assets of the Trust Fund remaining after such allocation shall be distributed to
the Company if (a) all liabilities of the Plan to Participants, Joint Annuitants
and Beneficiaries have been satisfied and (b) such a distribution does not
contravene any provision of law. The foregoing notwithstanding, if any remaining
assets of the Plan are attributable to Employee Contributions, such assets shall
be equitably distributed to the FMC Participants who made such contributions (or
to their Beneficiaries) in accordance with their rate of contribution. The
benefit of any highly compensated employee or former employee (determined in
accordance with section 414(g) of the Code and regulations thereunder) shall be
limited to a benefit that is nondiscriminatory under section 401(a)(4) of the
Code. In the event of a partial termination of the Plan, the Administrator shall
arrange for the division of the Trust Fund, on a nondiscriminatory basis to the
extent required by section 401 of the Code, into the portion attributable to
those Participants, Joint Annuitants and Beneficiaries who are not affected by
such partial termination and the portion attributable to such persons who are so
affected. The portion of the Trust Fund attributable to persons who are so
affected shall be allocated in the manner prescribed by section 4044 of ERISA.

                                       38

<PAGE>

                                   ARTICLE XII

                            Miscellaneous Provisions
                            ------------------------

12.1  Subsequent Changes
      ------------------

          All benefits to which any Participant, Joint Annuitant, or Beneficiary
may be entitled hereunder shall be determined under the Plan in effect when the
Participant ceases to be an Eligible Employee (or under the FMC Plan, as of the
date each FMC Participant who is not an Employee ceased being an eligible
employee under the FMC Plan) and shall not be affected by any subsequent change
in the provisions of the Plan, unless the Participant again becomes an Eligible
Employee.

12.2  Plan Mergers
      ------------

          The Plan shall not be merged or consolidated with any other plan, and
no assets or liabilities of the Plan shall be transferred to any other plan,
unless each Participant would receive a benefit immediately after such merger,
consolidation or transfer (if the Plan then terminated) which is equal to or
greater than the benefit such Participant would have been entitled to receive
immediately before such merger, consolidation or transfer (if the Plan had then
been terminated). A list of plans which were merged into the FMC Plan since May
27, 1994 and whose assets were transferred to the Plan in connection with the
FTI Spinoff is attached hereto and made a part hereof as Exhibit C.

12.3  No Assignment of Property Rights
      --------------------------------

          The interest or property rights of any person in the Plan, in the
Trust Fund or in any payment to be made under the Plan shall not be assignable
nor be subject to alienation or option, either by voluntary or involuntary
assignment or by operation of law, including (without limitation) bankruptcy,
garnishment, attachment or other creditor's process, and any act in violation of
this Section 12.3 shall be void. This provision shall not apply to a "qualified
domestic relations order" defined in Code Section 414(p). The Company shall
establish a written procedure to determine the qualified status of domestic
relations orders and to administer distributions under such qualified orders.

          In addition, the prohibition of this Section 12.3 will not apply to
any offset of a Participant's benefit under the Plan against an amount the
Participant is ordered or required to pay to the Plan under a judgment, order,
decree or settlement agreement that meets the requirements as set forth in this
Section 12.3. The Participant must be ordered or required to pay the Plan under
a judgment of conviction for a crime involving the Plan, under a civil judgment
(including a consent order or decree) entered by a court in an action brought in
connection with a violation (or alleged violation) of part 4 of subtitle B of
title I of ERISA, or pursuant to a settlement agreement between the Secretary of
Labor and the Participant in connection with a violation (or alleged violation)
of that part 4. This judgment, order, decree or settlement agreement must
expressly provide for the offset of all or part of the amount that must be paid
to

                                       39

<PAGE>

the Plan against the Participant's benefit under the Plan. In addition, if a
Participant is entitled to receive a 50% Joint and Survivor Annuity under
Section 6.1 of the Plan or a Survivor's Benefit under Article VII of the Plan,
and the Participant is married at the time at which the offset is to be made,
the Participant's spouse must consent to the offset in accordance with the
spousal consent requirements of Section 6.3.3 of the Plan, an election to waive
the right of the spouse to the 50% Joint and Survivor Annuity (made in
accordance with Section 6.3 of the Plan) or to the Survivor's Benefit (made in
accordance with Article VII of the Plan) must be in effect, the spouse is
ordered or required in the judgment, order, decree, or settlement to pay an
amount to the Plan in connection with a violation of Part 4 of subtitle B or
ERISA Title I, or the spouse retains in the judgment, order, decree, or
settlement the right to receive the survivor annuity under the 50% Joint and
Survivor Annuity or under the Survivor's Benefit, determined in the following
manner: the Participant terminated employment on the date of the offset, there
was no offset, the Plan permitted the commencement of benefits only on or after
Normal Retirement Age, the Plan provided only the minimum-required qualified
joint and survivor annuity, and the amount of the Survivor's Benefit under the
Plan is equal to the amount of the survivor annuity payable under the
minimum-required qualified joint and survivor annuity. For purposes of this
Section 12.3 the term "minimum-required qualified joint and survivor annuity"
means a qualified joint and survivor annuity which is the actuarial equivalent
of the Participant's accrued benefit and under which the survivor's annuity is
50% of the amount of the annuity which is payable during the joint lives of the
Participant and the Participant's spouse.

12.4  Beneficiary
      -----------

          The Beneficiary of a Participant shall be the person or persons so
designated by such Participant. If no Beneficiary has been designated or if the
designated Beneficiary is not living when a Plan Benefit is to be distributed,
the Beneficiary shall be such Participant's spouse if then living or, if not,
such Participant's then living children in equal shares or, if there are no
children, such Participant's estate. A Participant may revoke and change a
designation of a Beneficiary at any time. A designation of a Beneficiary, or any
revocation and change thereof, shall be effective only if it is made in writing
in a form acceptable to the Administrator and is received by it prior to the
Participant's death.

12.5  Benefits Payable to Minors, Incompetents and Others
      ---------------------------------------------------

          If any benefit is payable to a minor, an incompetent, or a person
otherwise under a legal disability, or to a person the Administrator reasonably
believes to be physically or mentally incapable of handling and disposing of his
or her property, whether because of his or her advanced age, illness, or other
physical or mental impairment, the Administrator has the power to apply all or
any part of the benefit directly to the care, comfort, maintenance, support,
education, or use of the person, or to pay all or any part of the benefit to the
person's parent, guardian, committee, conservator, or other legal
representative, wherever appointed, to the individual with whom the person is
living or to any other individual or entity having the care and control of the
person. The Plan, the Administrator and any other Plan fiduciary will have fully
discharged all responsibilities to the Participant, Joint Annuitant or
Beneficiary entitled to a payment by making payment under the preceding
sentence.

                                       40

<PAGE>

12.6     Employment Rights
         -----------------

                  Nothing in the Plan shall be deemed to give any person a right
to remain in the employ of the Company and Affiliates or affect any right of the
Company or any Affiliate to terminate a person's employment with or without
cause.

12.7     Proof of Age and Marriage
         -------------------------

                  Participants and Joint Annuitants shall furnish proof of age
and marital status satisfactory to the Administrator at such time or times as it
shall prescribe. The Administrator may delay the disbursement of any benefits
under the Plan until all pertinent information with respect to age or marital
status has been furnished and then make payment retroactively.

12.8     Small Annuities
         ---------------

                  If the lump sum Actuarial Equivalent value of (a) a Normal,
Early, or Deferred Retirement Benefit under Article III, Termination Benefit
(payable at the Participant's Normal Retirement Date) under Article IV, or
Survivor's Benefit under Article VII, excluding the individual Aetna
nonparticipating annuity (if any), and (b) the lump sum Actuarial Equivalent
value of the individual Aetna nonparticipating annuity (if any) are both $5,000
or less, such amounts shall be paid in a lump sum as soon as administratively
practicable following the Participant's retirement, termination of employment,
or death.

                  If a lump sum distribution is so paid and the Participant is
thereafter reemployed by the Company, the Participant shall have the option to
repay to the Plan the amount of such distribution, together with interest at the
rate of 5% per annum (or such other rate as may be prescribed pursuant to
section 411(c)(2)(C)(III) of the Code), compounded annually from the date of the
distribution to the date of repayment. If a reemployed Participant does not make
such repayment, no part of the Period of Service with respect to which the lump
sum distribution was made shall count as Years of Vesting Service or Years of
Credited Service.

12.9     Controlling Law
         ---------------

                  The Plan and all rights thereunder shall be interpreted and
construed in accordance with ERISA and, to the extent that state law is not
preempted by ERISA, the law of the State of Illinois.

12.10    Direct Rollover Option
         ----------------------

                  Notwithstanding any provision of the Plan to the contrary that
would otherwise limit a distributee's election under this Section 12.10, a
distributee may elect, at the time and in the manner prescribed by the
Administrator, to have any portion of an eligible rollover distribution paid
directly to an eligible retirement plan specified by the distributee in a direct
rollover.

                  (a)      As used in this Section 12.10, an "eligible rollover
                           distribution" means any distribution of all or any
                           portion of the balance to the credit of the

                                       41

<PAGE>

               distributee, except that an eligible rollover distribution does
               not include: any distribution that is one of a series of
               substantially equal periodic payments (not less frequently than
               annually) made for the life (or life expectancy) of the
               distributee or the joint lives (or joint life expectancies) of
               the distributee and the distributee's designated beneficiary, or
               for a specified period of 10 years or more; any distribution to
               the extent such distribution is required under Section 401(a)(9)
               of the Code; the portion of any distribution that is not
               includible in gross income (determined without regard to the
               exclusion for net unrealized appreciation with respect to
               employer securities); and any other distribution(s) that is
               reasonably expected to total less than $200 during a year.

        (b)    As used in this Section 12.10, an "eligible retirement plan"
               means an individual retirement account described in Section
               408(a) of the Code, an individual retirement annuity described in
               Section 408(b) of the Code, an annuity plan described in Section
               403(a) of the Code, or a qualified trust described in Section
               401(a) of the Code, that accepts the distributee's eligible
               rollover distribution. In the case of an eligible rollover
               distribution to the surviving spouse, however, an eligible
               retirement plan is an individual retirement account or individual
               retirement annuity.

        (c)    As used in this Section 12.10, a "distributee" includes an
               Employee or former Employee. In addition, the Employee's or
               former Employee's surviving spouse and the Employee's or former
               Employee's spouse or former spouse who is the alternate payee
               under a qualified domestic relations order, as defined in Section
               414(p) of the Code, are distributees with regard to the interest
               of the spouse or former spouse.

        (d)    As used in this Section 12.10, a "direct rollover" is a payment
               by the Plan to the eligible retirement plan specified by the
               distributee.

12.11  Claims Procedure
       ----------------

        12.11.1    Any application for benefits under the Plan and all inquiries
concerning the Plan shall be submitted to the Company at such address as may be
announced to Participants from time to time. Applications for benefits shall be
in writing on the form prescribed by the Company and shall be signed by the
Participant or, in the case of a benefit payable after the death of the
Participant, by the Participant's surviving spouse, Joint Annuitant or
Beneficiary, as the case may be.

        12.11.2    The Company shall give written notice of its decision on any
application to the applicant within 90 days. If special circumstances require a
longer period of time the Company shall so notify the applicant within 90 days,
and give written notice of its decision to the applicant within 180 days after
receiving the application. In the event any application for benefits is denied
in whole or in part, the Company shall notify the applicant in writing of the
right to a review of the denial. Such written notice shall set forth, in a
manner calculated to be understood by the applicant, specific reasons for the
denial, specific references to the Plan

                                       42

<PAGE>

provisions on which the denial is based, a description of any information or
material necessary to perfect the application, an explanation of why such
material is necessary and an explanation of the Plan's review procedure.

                  12.11.3  The Company shall appoint a "Review Panel," which
shall consist of three or more individuals who may (but need not) be employees
of the Company. The Review Panel shall be the named fiduciary which has the
authority to act with respect to any appeal from a denial of benefits under the
Plan.

                  12.11.4  Any person (or his authorized representative) whose
application for benefits is denied in whole or in part may appeal the denial by
submitting to the Review Panel a request for a review of the application within
60 days after receiving written notice of the denial. The Company shall give the
applicant or such representative an opportunity to review, by written request,
pertinent materials (other than legally privileged documents) in preparing such
request for review. The request for review shall be in writing and addressed as
follows: "Review Panel of the Employee Benefits Plan Committee, 200 East
Randolph Drive, Chicago, Illinois 60601." The request for review shall set forth
all of the grounds on which it is based, all facts in support of the request and
any other matters which the applicant deems pertinent. The Review Panel may
require the applicant to submit such additional facts, documents or other
material as it may deem necessary or appropriate in making its review.

                  12.11.5  The Review Panel shall act upon each request for
review within 60 days after receipt thereof. If special circumstances require a
longer period of time the Review Panel shall so notify the applicant within 60
days, and give written notice of its decision to the applicant within 120 days
after receiving the request for review. The Review Panel shall give notice of
its decision to the Company and to the applicant in writing. In the event the
Review Panel confirms the denial of the application for benefits in whole or in
part, such notice shall set forth in a manner calculated to be understood by the
applicant, the specific reasons for such denial and specific references to the
Plan provisions on which the decision is based.

                  12.11.6  The Review Panel shall establish such rules and
procedures, consistent with ERISA and the Plan, as it may deem necessary or
appropriate in carrying out its responsibilities under this Section 12.11.

                  12.11.7  No legal or equitable action for benefits under the
Plan shall be brought unless and until the claimant (a) has submitted a written
application for benefits in accordance with Section 12.10.1, (b) has been
notified by the Company that the application is denied, (c) has filed a written
request for a review of the application in accordance with Section 12.10.4 and
(d) has been notified in writing that the Review Panel has affirmed the denial
of the application; provided that legal action may be brought after the Review
Panel has failed to take any action on the claim within the time prescribed in
Section 12.11.5. A claimant may not bring an action for benefits in accordance
with this Section 12.11.7 after 90 days after the Review Panel denies the
claimant's application for benefits.

12.12    Participation in the Plan by an Affiliate
         -----------------------------------------

                                       43

<PAGE>

            12.12.1  With the consent of the Board, any Affiliate, by
appropriate action of its board of directors, a general partner or the sole
proprietor, as the case may be, may adopt the Plan and determine the classes of
its Employees that will be Eligible Employees.

            12.12.2  A Participating Employer will have no power with
respect to the Plan except as specifically provided herein.

12.13    Action by Participating Employers
         ---------------------------------

                  Any action required to be taken by the Company pursuant to any
Plan provisions will be evidenced in the manner set forth in Section 11.1. Any
action required to be taken by a Participating Employer will be evidenced by a
resolution of the Participating Employer's board of directors (or an authorized
committee of that board). Participating Employer action may also be evidenced by
a written instrument executed by any person or persons authorized to take the
action by the Participating Employer's board of directors, any authorized
committee of that board, or the stockholders. A copy of any written instrument
evidencing the action by the Company or Participating Employer must be delivered
to the secretary or assistant secretary of the Company or Participating
Employer.

                                       44

<PAGE>

                                  ARTICLE XIII

                              Top Heavy Provisions
                              --------------------

13.1     Top Heavy Definitions
         ---------------------

                  For purposes of this Article XIII and any amendments to it,
the terms listed in this Section 13.1 have the meanings ascribed to them below.

                  Aggregate Account  means the value of all accounts maintained
                  -----------------
on behalf of a Participant, whether attributable to Company or employee
contributions, determined under applicable provisions of the defined
contribution plan used in determining Top Heavy Plan status.

                  Aggregation Group  means the group of plans in a Mandatory
                  -----------------
Aggregation Group, if any, that includes the Plan, unless including additional
Related Plans in the group would prevent the Plan for being a Top Heavy Plan, in
which case Aggregation Group means the group of plans in a Permissive
Aggregation Group, if any, that includes the Plan.

                  Compensation  means compensation as defined in Code Section
                  ------------
415(c)(3) and Treasury regulations thereunder. For purposes of determining who
is a Key Employee, Compensation will be applied by taking into account amounts
paid by Affiliates who are not Participating Employers, as well as amounts paid
by Participating Employers, and without applying the exclusions for amounts paid
by a Participating Employer to cover an Employee's nonqualified deferred
compensation FICA tax obligations and for gross-up payments on such FICA tax
payments.

                  Determination Date means,  for a Plan Year, the last day of
                  ------------------------
the preceding Plan Year. If the Plan is part of an Aggregation Group, the
Determination Date for each other plan will be, for any Plan Year, the
Determination Date for that other plan that falls in the same calendar year as
the Determination Date for the Plan.

                  Key Employee  means an employee described in Code Section
                  ------------
416(i)(1) and the regulations promulgated thereunder. Generally, a Key Employee
is an Employee or former Employee who, at any time during the Plan Year
containing the Determination Date or any of the 4 preceding Plan Years, is:

                  (a)      an officer of the Company or an Affiliate with
                           annual Compensation  greater than 50% of the amount
                           in effect under Code Section 415(b)(1)(A);

                  (b)      one of the 10 Employees of the Company and all
                           Affiliates owning (or considered to own within the
                           meaning of Code Section 318) the largest interests in
                           any of the Company and the Affiliates, but only if
                           the Employee has annual Compensation greater than the
                           limitation in effect under Code Section 415(c)(1)(A);

                  (c)      a 5% owner of the Company or an Affiliate; or

                                       45

<PAGE>

                  (d)      a 1% owner of the Company or an Affiliate with annual
                           Compensation from the Company and all Affiliates of
                           more than $150,000.

                 Mandatory Aggregation Group  means each plan (considering the
                 ---------------------------
Plan and Related Plans) that, during the Plan Year that contains the
Determination Date or any of the 4 preceding Plan Years:

                  (a)      had a participant who was a Key Employee; or

                  (b)      was required to be considered with a plan in which a
                           Key Employee participated in order to enable the plan
                           in which the Key Employee participated to meet the
                           requirements of Code Section 401(a)(4) or 410(b).

                  Non-Key Employee  means an Employee or former Employee who is
                  ----------------
not a Key Employee.

                  Permissive Aggregation Group  means the group of plans
                  ----------------------------
consisting of the plans in a Mandatory Aggregation Group with the Plan, plus any
other Related Plan or Plans that, when considered as a part of the Aggregation
Group, does not cause the Aggregation Group to fail to satisfy the requirements
of Code Section 401(a)(4) or 410(b).

                  Present Value of Accrued Benefits  means, in the case of a
                  ---------------------------------
defined benefit plan, a Participant's present value of accrued benefits
determined as follows:

                  (a)      as of the most recent "Actuarial Valuation Date,"
                           which is the most recent valuation date within a
                           12-month period ending on the Determination Date.

                  (b)      as if the Participant terminated service as of the
                           actuarial valuation date; and

                  (c)      the Actuarial Valuation Date must be the same date
                           used for computing the defined benefit plan minimum
                           funding costs, regardless of whether a valuation is
                           performed that Plan Year.

                  Present Value means, in calculating a Participant's present
                  -------------
value of accrued benefits as of a Determination Date, the sum of:

                  (a)      the present value of accrued benefits using the
                           actuarial assumptions of Exhibit E-4;

                  (b)      any Plan distributions made within the Plan Year that
                           includes the Determination Date or within the 4
                           preceding Plan Years. However, in the case of
                           distributions made after the valuation date and prior
                           to the Determination Date, such distributions are not
                           included as distributions for top heavy purposes to
                           the extent that such distributions are already
                           included in the Participant's present value of
                           accrued benefits as of the

                                       46

<PAGE>

                    valuation date. Notwithstanding anything herein to the
                    contrary, all distributions, including distributions under
                    a terminated plan which if it had not been terminated
                    would have been required to be included in an Aggregation
                    Group, will be counted;

               (c)  any Employee Contributions, whether voluntary or mandatory.
                    However, amounts attributable to tax deductible Qualified
                    Voluntary Employee Contributions shall not be considered to
                    be a part of the Participant's present value of accrued
                    benefits;

               (d)  with respect to unrelated rollovers and plan-to-plan
                    transfers (ones which are both initiated by the Participant

                    and made from a plan maintained by one employer to a plan
                    maintained by another employer), if this Plan provides for
                    rollovers or plan-to-plan transfers, it shall always
                    consider such rollover or plan-to-plan transfer as a
                    distribution for the purposes of this Section 13.1. If this
                    Plan is the plan accepting such rollovers or plan-to-plan
                    transfers, it shall not consider such rollovers or
                    plan-to-plan transfers, as part of the Participant's present
                    value of accrued benefits; and

               (e)  with respect to related rollovers and plan-to-plan
                    transfers (ones either not initiated by the Participant or
                    made to a plan maintained by the same employer), if this
                    Plan provides the rollover or plan-to-plan transfer, it
                    shall not be counted as a distribution for purposes of this
                    Section. If this Plan is the plan accepting such rollover or
                    plan-to-plan transfer, it shall consider such rollover or
                    plan-to-plan transfer as part of the Participant's present
                    value of accrued benefits, irrespective of the date on which
                    such rollover or plan-to-plan transfer is accepted.

               Related Plan means any other defined contribution plan (a
               ------------
"Related Defined Contribution Plan") or defined benefit plan (a "Related Defined
Benefit Plan") (both as defined in Code Section 415(k), maintained by the
Company or an Affiliate.

               A Super Top Heavy Aggregation Group exists in any Plan Year for
               -----------------------------------
which, as of the Determination Date, the sum of the present value of accrued
benefits and the Aggregate Accounts of Key Employees under all plans in the
Aggregation Group exceeds 90% of the sum of the present value of accrued
benefits and the Aggregate Accounts of all employees under all plans in the
Aggregation Group. In determining the sum of the Present Value of Accrued
Benefits and/or Aggregate Accounts for all employees, the present value of
accrued benefits and/or Aggregate Accounts for any Non-key Employee who was a
Key Employee for any Plan Year preceding the Plan Year that contains the
Determination Date will be excluded.

               Super Top Heavy Plan  means the Plan when it is described in the
               --------------------
second sentence of Section 13.2.

               A Top Heavy Aggregation Group  exists in any Plan Year for
                 ---------------------------
which, as of the Determination Date, the sum of the Present Value of Accrued
Benefits for Key Employees under all plans in the Aggregation Group exceeds 60%
of the sum of the Present Value of Accrued

                                       47

<PAGE>

Benefits for all employees under all plans in the Aggregation Group. In
determining the sum of the Present Value of Accrued Benefits for all employees,
the Present Value of Accrued Benefits for any Non-key Employee who was a Key
Employee for any Plan Year preceding the Plan Year that contains the
Determination Date will be excluded.

                Top Heavy Plan  means the Plan when it is described in the
                --------------
first sentence of Section 13.2.

13.2     Determination of Top Heavy Status
         ---------------------------------

                This Plan is a Top Heavy Plan in any Plan Year in which it is
a member of a Top Heavy Aggregation Group, including a Top Heavy Aggregation
Group that includes only the Plan. The Plan is a Super Top Heavy Plan in any
Plan Year in which it is a member of a Super Top Heavy Aggregation Group,
including a Super Top Heavy Aggregation Group that includes only the Plan.

13.3     Minimum Benefit Requirement for Top Heavy Plan
         ----------------------------------------------

                13.3.1 Minimum Accrued Benefit: The minimum accrued benefit
(expressed as an Individual Life Annuity commencing at Normal Retirement Date)
derived from Company contributions to be provided under this Section for each
Non-key Employee who is a Participant for any Plan Year in which this Plan is a
Top Heavy Plan shall equal the product of (a) 1/12th of "416 Compensation"
averaged over 5 the consecutive Plan Years (or actual number of Plan Years if
less) which produce the highest average and (b) the lesser of (i) 2% multiplied
by Years of Vesting Service or (ii) 20%.

                13.3.2 For purposes of providing the minimum benefit under
Code Section 416, a Non-key Employee who is not a Participant solely because (a)
his compensation is below a stated amount or (b) he declined to make mandatory
contributions to the Plan will be considered to be a Participant.

                13.3.3 For purposes of this Section 13.3, Years of Vesting
Service for any Plan Year during which the Plan was not a Top Heavy Plan shall
be disregarded.

                13.3.4 For purposes of this Section 13.3, 416 Compensation for
any Plan Year subsequent to the last Plan Year during which the Plan is a Top
Heavy Plan shall be disregarded.

                13.3.5 For the purposes of this Section 13.3, "416
Compensation" shall mean W-2 wages for the calendar year ending with or within
the Plan Year, and shall be limited to $160,000 (as adjusted for cost-of-living
in accordance with Section 401(a)(17)(B) of the Code) in Top Heavy Plan Years.

                13.3.6 If payment of the minimum accrued benefit commences at
a date other than Normal Retirement Date, or if the form of benefit is other
than on Individual Life Annuity, the minimum accrued benefit shall be the
actuarial equivalent of the minimum accrued benefit expressed as an Individual
Life Annuity commencing at Normal Retirement Date pursuant to Exhibits E-l, E-2,
E-3, and E-4.

                                       48

<PAGE>

              13.3.7 To the extent required to be nonforfeitable under
Section 13.4, the minimum accrued benefit under this Section 13.3 may not be
forfeited under Code Section 411(a)(3)(B) or Code Section 411(a)(3)(D).

13.4   Vesting Requirement for Top Heavy Plan
       --------------------------------------

              13.4.1 Notwithstanding any other provision of this Plan, for
any Top Heavy Plan Year, the vested portion of any Participant's accrued benefit
shall be determined on the basis of the Participant's number of Years of Vesting
Service according to the following schedule:

                       Years of Service           Percentage Vested
                       ----------------           -----------------

                            1 - 2                         0%
                                3                       100%

              If in any subsequent Plan Year, the Plan ceases to be a Top Heavy
Plan, the Company may, in its sole discretion, elect to continue to apply this
vesting schedule in determining the vested portion of any Participant's accrued
benefit, or revert to the vesting schedule in effect before this Plan became a
Top Heavy Plan. Any such reversion shall be treated as a Plan amendment.

              13.4.2 The computation of the nonforfeitable percentage of the
Participant's interest in the Plan shall not be reduced as the result of any
direct or indirect amendment to this Plan. In the event that this Plan is
amended to change or modify any vesting schedule, a Participant with at least 5
Years of Service as of the expiration date of the election period may elect to
have the Participant's nonforfeitable percentage computed under the Plan without
regard to such amendment. If a Participant fails to make such election, then
such Participant shall be subject to the new vesting schedule. The Participant's
election period shall commence on the adoption date of the amendment and shall
end 60 days after the latest of

              (a)   the adoption date of the amendment,

              (b)   the effective date of the amendment, or

              (c)   the date the Participant receives written notice of the
                    amendment from the Company.

                                       49

<PAGE>

                To record the adoption of the Plan to read as set forth herein,
the Company has caused its authorized member of the Committee to execute the
same this 1st day of May, 2001, to be effective May 1, 2001, except as otherwise
provided in the text herein.

                                            FMC Technologies, Inc.

                                            By: /s/ William H. Schumann III
                                                ---------------------------

                                            Member, Employee Welfare Benefits
                                            Plan Committee

                                       50

<PAGE>

                                    EXHIBIT A

                                CREDITED SERVICE
                                ----------------

Any service acquired as a participant under any of the plans listed herein shall
not be counted as Credited Service for purposes of this Plan.

          1.   Frigoscandia Inc. Money Purchase Pension Plan
          2.   Frigoscandia Inc. Retirement Plan: Pension Plan/401(k) Plan

                                       51

<PAGE>

                                    EXHIBIT B

                               INACTIVE LOCATIONS
                               ------------------

The following is a list of former locations of FMC which have been sold or
closed. As a result of the FTI Spinoff, the Plan retains the assets and
liabilities with respect to certain Participants formerly employed by FMC at
such locations:

                LOCATION                                DATE SOLD/CLOSED
                --------                                ----------------

--------------------------------------------------------------------------------
Invalco                                           February 26, 1999
--------------------------------------------------------------------------------
Houston Fluid Control                             January 1, 1984
--------------------------------------------------------------------------------

                                       52

<PAGE>

                                    EXHIBIT C

                                  MERGED PLANS
                                  ------------

The following is a list of other plans which were merged into the FMC Plan on
and after May 27, 1994, the assets of which are retained by this Plan as a
result of the FTI Spinoff.

<TABLE>
<CAPTION>
                                                                             EFFECTIVE
                                                                              DATE OF                    SUPPLEMENT
                           PLAN NAME                                           MERGER                      NUMBER
                           ---------                                           ------                      ------
<S>                                                                        <C>                           <C>
--------------------------------------------------------------------------------------------------------------------
Pneumo Abex Corporation Retirement Income Plan                             May 27, 1994                       1
(Jetway Equipment Division)
--------------------------------------------------------------------------------------------------------------------
Retirement Plan for Employees of Stein                                     June 1, 1997                       2
--------------------------------------------------------------------------------------------------------------------
Moorco International, Inc. Retirement Income Plan                          July 1, 1997                       3
--------------------------------------------------------------------------------------------------------------------
Smith Meter, Inc. Salaried Retirement Plan                                 July 1, 1997                       4
--------------------------------------------------------------------------------------------------------------------
</TABLE>

                                       53

<PAGE>

                                  SUPPLEMENT 1

                             JETWAY SYSTEMS DIVISION
                             -----------------------

1-1  Eligible Employees
     ------------------

          The terms of this Supplement apply only to individuals who are current
or former salaried and nonunion hourly employees of the FMC Technologies, Inc.,
Jetway Systems Division and who were participants in the Pneumo Abex Corporation
Retirement Income Plan ("Prior Plan") before May 27, 1994 (the "Merger Date")
who had not received a full distribution of their benefit under such plan, or
the FMC Plan, as of the Effective Date ("Participant"). On the Merger Date the
benefits of such participants were spun off from the Prior Plan and merged into
the FMC Plan.

1-2  Calculation of Normal Retirement Benefit
     ----------------------------------------

          A Participant's monthly Normal Retirement Benefit shall be no less
than the normal retirement benefit to which the Participant would have been
entitled under the Prior Plan if the Participant had terminated employment
immediately prior to the Merger Date.

1-3  Early Retirement Date
     ---------------------

          Early Retirement Date means the earlier of: (a) a Participant's Early
          ---------------------
Retirement Date under the Plan or (b) the date the Participant has a Severance
from Service before Normal Retirement Date for a reason other than death (i) if
the Participant is at least age 55 and has at least 10 Years of Vesting Service,
(ii) if the Participant was hired before age 35 and before January 1, 1989 and
the sum of the Participant's age and Years of Vesting Service is at least 75, or
(iii) if the Participant was entitled to an early retirement benefit under the
Prior Plan.

1-4  Termination Benefit
     -------------------

          If a Participant has a Severance from Service before Early or Normal
Retirement Date for a reason other than death and had accrued at least 10 Years
of Vesting Service, the Participant may begin to receive the Participant's Plan
benefit, subject to the Plan's reduction for early retirement, as early as the
date the Participant reaches age 55.

1-5  Years of Vesting Service
     ------------------------

          A Participant is fully vested in the Participant's benefit under the
Plan. A Participant's Employment Commencement Date will be the date the
Participant was first employed by the Company or an Affiliate, or any earlier
date from which the Participant was granted vesting service under the FMC Plan,
or the Prior Plan. In no event will a Participant be credited with fewer Years
of Vesting Service under the Plan than the Participant would have been credited
with under the vesting rules of the Prior Plan.

                                       54

<PAGE>

1-6  Available Forms of Benefits
     ---------------------------

          In addition to the optional forms of benefit described in the Plan, a
Participant may elect to receive his benefit under the Prior Plan in the
following form of benefit:

               Life and 10 Year Certain Annuity: A Life and 10 Year Certain
               --------------------------------
               Annuity is an immediate annuity which is the Actuarial Equivalent
               of an Individual Life Annuity, but which provides a smaller
               monthly annuity for the Participant's life than an Individual
               Life Annuity. After the Participant's death, if the monthly
               annuity has been paid for a period shorter than 10 years, it will
               continue in the same amount as during the Participant's life, for
               the remainder of the 10 year term certain. The Participant's
               Joint Annuitant will receive any payments due after the
               Participant's death.

1-7  Special Provisions for Participants in the Retirement Plan for Salaried
     -----------------------------------------------------------------------
     Employees of Abex Corporation
     -----------------------------

          In addition to the special provisions of the preceding sections, a
Participant who participated in the Retirement Plan for Salaried Employees of
Abex Corporation before January 1, 1989 will be subject to the following
provision with respect to the Participant's Prior Plan benefit accrued before
January 1, 1989:

               Special Rule of 75 Benefit: Participants who were hired before
               --------------------------
               age 35 and before January 1, 1989, and who accrue total years of
               age and Vesting Service at Early Retirement equal to at least 75
               will be entitled to a monthly benefit at their Early Retirement
               Date reduced by 1/3 of 1% for each month payments are made before
               the Participant reaches age 65.

                                       55

<PAGE>

                                  SUPPLEMENT 2

                                      STEIN
                                      -----

2-1  Eligible Employees
     ------------------

          The terms of this Supplement apply only to individuals who were
participants in the Retirement Plan for Employees of Stein (the "Prior Plan")
prior to June 1, 1997 (the "Merger Date") and who had not received a full
distribution of their benefit under such Prior Plan or the FMC Plan as of the
Effective Date ("Participant").

2-2  Calculation of Normal Retirement Benefit
     ----------------------------------------

          A Participant's Normal Retirement Benefit shall be no less than the
normal retirement benefit to which the Participant would have been entitled
under the Prior Plan if the Participant had permanently terminated employment
immediately prior to the Merger Date.

2-3  Years of Vesting Service
     ------------------------

          A Participant is fully vested in the Participant's benefit under the
Prior Plan. A Participant's Employment Commencement Date will be the date the
Participant was first employed by the Company or an Affiliate, or any earlier
date from which the Participant was granted vesting service under the FMC Plan
or the Prior Plan. In no event will a Participant be credited with fewer Years
of Vesting Service under the Plan than the Participant would have been credited
with under the vesting rules of the Prior Plan.

2-4  Available Forms of Benefits
     ---------------------------

          In addition to the optional forms of benefit described in the Plan, a
Participant may elect to receive the Participant's benefit under the Prior Plan
in the following form of benefit:

               Life and 5 Year Certain Annuity: A Life and 10 Year Certain
               -------------------------------
               Annuity is an immediate annuity which is the Actuarial Equivalent
               of an Individual Life Annuity, but which provides a smaller
               monthly annuity for the Participant's life than an Individual
               Life Annuity. After the Participant's death, if the monthly
               annuity has been paid for a period shorter than 60 months, it
               will continue, in the same amount as during the Participant's
               life, for the remainder of the 60 month term certain. The
               Participant's Joint Annuitant will receive any payments due after
               the Participant's death.

                                       56

<PAGE>

                                  SUPPLEMENT 3

                MOORCO INTERNATIONAL INC. RETIREMENT INCOME PLAN
                ------------------------------------------------

3-1  Eligible Employees
     ------------------

          The terms of this Supplement apply only to individuals who were
participants in the Moorco International Inc. Retirement Income Plan (the "Prior
Plan") prior to July 1, 1997 (the "Merger Date") and who had not yet received a
full distribution of their benefit under such Prior Plan or the FMC Plan as of
the Effective Date ("Participant").

3-2  Calculation of Normal Retirement Benefit
     ----------------------------------------

          A Participant's Normal Retirement Benefit shall be no less than the
normal retirement benefit to which the Participant would have been entitled if
the Participant had terminated employment immediately prior to the Merger Date.

3-3  Early Retirement Date
     ---------------------

          Early Retirement Date means the earlier of: (a) Early Retirement Date
          ---------------------
under the Plan; or (b) the date the Participant has a Severance from Service
before Normal Retirement Date for a reason other than death, if the Participant
is at least age 55 and has at least 10 Years of Vesting Service or if the
Participant was entitled to an early retirement benefit under the Geosource Inc.
Retirement Income Plan.

3-4  Years of Vesting Service
     ------------------------

          A Participant is fully vested in the Participant's benefits under the
Prior Plan. A Participant's Employment Commencement Date will be the date the
Participant was first employed by the Company or an Affiliate, or any earlier
date from which the Participant was first granted vesting service under the FMC
Plan or the Prior Plan. Each Participant will be credited with the number of
full years of vesting service with which the Participant was credited under the
Prior Plan plus the greater of: (a) 6 months of Vesting Service; and (b) if the
Participant accrued 1,000 hours of service under the Prior Plan during the
period from January 1, 1997 through June 30, 1997, 1 Year of Vesting Service. In
no event will a Participant be credited with fewer Years of Vesting Service
under the Plan than the Participant would have been credited with under the
vesting rules of the Prior Plan.

3-5  Available Forms of Benefits
     ---------------------------

          In addition to the optional forms of benefit described in the Plan, a
Participant may elect to receive the Participant's benefit under the Prior Plan
in the following form:

                                       57

<PAGE>

               Life and Term Certain Annuity: A Life and Term Certain Annuity is
               -----------------------------
               an immediate annuity which is the Actuarial Equivalent
               (determined in accordance with Exhibit E-1) of an Individual Life
               Annuity, but which provides a smaller monthly annuity for the
               Participant's life than an Individual Life Annuity. After the
               Participant's death, if the monthly annuity has been paid for a
               period shorter than the term certain chosen by the Participant,
               it will continue, in the same amount as during the Participant's
               life, for the remainder of the term certain. The Participant's
               Joint Annuitant will receive any payments due after the
               Participant's death. The Participant may choose a term certain of
               60, 120, 180 or 240 months, so long as the term certain does not
               exceed the joint life expectancies of the Participant and the
               Joint Annuitant.

3-6  Non-Spouse Death Benefit
     ------------------------

          If the Preretirement Survivor's Benefit is not payable to the spouse
of a deceased Participant, and if the Participant dies on or after the
Participant's Early Retirement Date, the Participant's Beneficiary will be
entitled to a death benefit consisting of monthly payments made for a period of
60 months, beginning as of the first day of the month coincident with or next
following the month in which the Participant dies. The amount of the monthly
payment will be equal to the monthly payment to which the Participant would have
been entitled if the Participant had retired on the day before his death, and
had elected to receive only the Participant's Prior Plan benefit in the form of
an immediate Life and Term Certain Annuity with a term certain of 60 months.

                                       58

<PAGE>

                                  SUPPLEMENT 4

                   SMITH METER, INC. SALARIED RETIREMENT PLAN
                   ------------------------------------------

4-1  Eligible Employees
     ------------------

          The terms of this Supplement apply only to individuals who were
participants in the Smith Meter, Inc. Salaried Retirement Plan ("Prior Plan")
prior to July 1, 1997 (the "Merger Date") and who had not yet received a full
distribution of their benefit under the FMC Plan or the Prior Plan as of the
Effective Date ("Participant").

4-2  Calculation of Normal Retirement Benefit
     ----------------------------------------

          A Participant's Normal Retirement Benefit shall be no less than the
normal retirement benefit to which the Participant would have been entitled if
the Participant had permanently terminated employment with FMC and all of its
Affiliates (as defined in the FMC Plan) on the Merger Date.

4-3  Early Retirement Date
     ---------------------

          Early Retirement Date means the earlier of: (a) the Participant's
          ---------------------
Early Retirement Date under the Plan, or (b) the date the Participant has a
Severance from Service before Normal Retirement Date for a reason other than
death (i) if the Participant is at least age 57 and has at least 10 Years of
Vesting Service or (ii) if the Participant was entitled to an early retirement
benefit under the Geosource Inc. Smith Meter Systems Division Salaried
Retirement Income Plan.

4-4  Normal Retirement Date
     ----------------------

          Normal Retirement Date means the earlier of: (a) the Participant's
          ----------------------
Normal Retirement Date under the Plan, or (b) the date the Participant has a
Severance from Service with at least 10 Years of Vesting Service at or after age
62.

4-5  Years of Vesting Service
     ------------------------

          A Participant is fully vested in the Participant's benefits under the
Prior Plan. A Participant's Employment Commencement Date will be the date the
Participant was first employed by the Company or any Affiliate, or any earlier
date from which he was granted vesting service under the FMC Plan or the Prior
Plan. Each Participant will be credited with the number of full years of vesting
service with which the Participant was credited under the Prior Plan plus the
greater of: (a) 6 months of Vesting Service, or (b) if the Participant accrued
1,000 hours of service under the Prior Plan during the period from January 1,
1997 through June 30, 1997, 1 Year of Vesting Service. In no event will a
Participant be credited with fewer Years of Vesting

                                       59

<PAGE>

Service under the Plan than the Participant would have been credited with under
the vesting rules of the Prior Plan.

4-6  Available Forms of Benefits
     ---------------------------

          In addition to the optional forms of benefit described in the Plan, a
Participant may elect to receive his Prior Plan benefit in the following form of
benefit:

               Life and Term Certain Annuity: A Life and Term Certain Annuity is
               -----------------------------
               an immediate annuity which is the Actuarial Equivalent
               (determined in accordance with Exhibit E-1) of an Individual Life
               Annuity, but which provides a smaller monthly annuity for the
               Participant's life than an Individual Life Annuity. After the
               Participant's death, if the monthly annuity has been paid for a
               period shorter than the term certain chosen by the Participant,
               it will continue, in the same amount as during the Participant's
               life, for the remainder of the term certain. The Participant's
               Joint Annuitant will receive any payments due after the
               Participant's death. The Participant may choose a term certain of
               60, 120, 180 or 240 months, so long as the term certain does not
               exceed the joint life expectancies of the Participant and the
               Joint Annuitant.

4-7  Payment to Active Participant After Normal Retirement Date
     ----------------------------------------------------------

          A Participant who continues to be employed by the Company or a
Participating Employer after reaching Normal Retirement Date may begin receiving
the Participant's Prior Plan benefit at or after Normal Retirement Date.

4-8  Non-Spouse Death Benefit
     ------------------------

          If the Preretirement Survivor's Benefit is not payable to the spouse
of a deceased Participant, and if the Participant dies on or after the
Participant's Early Retirement Date, the Participant's Beneficiary will be
entitled to a death benefit consisting of monthly payments made for a period of
60 months, beginning as of the first day of the month coincident with or next
following the month in which the Participant dies. The amount of the monthly
payment will be equal to the monthly payment to which the Participant would have
been entitled if he had retired on the day before his death, and had elected to
receive only his Prior Plan benefit in the form of an immediate Life and Term
Certain Annuity with a term certain of 60 months.

                                       60

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