Document:

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                                                           EXHIBIT (10gg)

                               BRUSH WELLMAN INC.

                      EXECUTIVE DEFERRED COMPENSATION PLAN

<PAGE>   2
                                TABLE OF CONTENTS

                                                                            PAGE
ARTICLE 1         ESTABLISHMENT OF THE PLAN...............................   1

ARTICLE 2         DEFINITIONS.............................................   1
          2.1     Account.................................................   1
          2.2     Board...................................................   1
          2.3     Code....................................................   1
          2.4     Company.................................................   1
          2.5     Compensation............................................   1
          2.6     Compensation Committee..................................   1
          2.7     Deferred Compensation...................................   2
          2.8     Election Agreement......................................   2
          2.9     Employee................................................   2
          2.10    Participant.............................................   2
          2.11    Plan....................................................   2
          2.12    Plan Administrator......................................   2
          2.13    Plan Year...............................................   2
          2.14    Trust...................................................   2
          2.15    Valuation Date..........................................   2

ARTICLE 3         PARTICIPATION...........................................   2
          3.1     Eligibility.............................................   2
          3.2     Participation...........................................   2

ARTICLE 4         BENEFITS................................................   3
          4.1     Deferred Compensation...................................   3
          4.2     Election Procedures.....................................   3

ARTICLE 5         ACCOUNTS................................................   3
          5.1     Participant Accounts....................................   3
          5.2     Investment Return.......................................   4
          5.3     Valuation of Accounts...................................   4

ARTICLE 6         DISTRIBUTIONS...........................................   4
          6.1     Termination of Employment...............................   4
          6.2      Death..................................................   4

ARTICLE 7         ADMINISTRATION..........................................   5
          7.1     Plan Administrator......................................   5
          7.2     Appointment of Administrative Committee.................   5
          7.3     Powers of Plan Administrator............................   5
          7.4     Limitation of Liability.................................   5
          7.5     Claims Procedures.......................................   6

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ARTICLE 8         MISCELLANEOUS...........................................   6
          8.1     Unfunded Plan...........................................   6
          8.2     Spendthrift Provision...................................   7
          8.3     Employment Rights.......................................   7
          8.4     Withholding of Taxes....................................   7
          8.5     Amendment or Termination................................   7
          8.6     No Fiduciary Relationship Created.......................   7
          8.7     Release.................................................   7
          8.8     No Warranty or Representation...........................   8
          8.9     Construction............................................   8
          8.10    Governing Law...........................................   8
          8.11    Counterparts............................................   8

                                      -ii-
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                               BRUSH WELLMAN INC.
                      EXECUTIVE DEFERRED COMPENSATION PLAN

                                    ARTICLE 1

                            ESTABLISHMENT OF THE PLAN

         Brush Wellman Inc., an Ohio corporation, hereby adopts the BRUSH
WELLMAN INC. EXECUTIVE DEFERRED COMPENSATION PLAN ("Plan") for the purpose of
providing deferred compensation to employees who are eligible under the terms
and conditions of the Plan, in accordance with the following terms and
conditions.

         The Plan is intended to be a non-qualified deferred compensation
arrangement for a select group of management and highly compensated employees.

                                    ARTICLE 2

                                   DEFINITIONS

         The following terms shall have the following meanings described in this
Article unless the context clearly indicates another meaning. All references in
the Plan to specific Articles or Sections shall refer to Articles or Sections of
the Plan unless otherwise stated.

         2.1 Account means the record established for each Participant in
accordance with Section 5.1.

         2.2 Board means the Board of Directors of Brush Wellman Inc.

         2.3 Code means the Internal Revenue Code of 1986, as amended.

         2.4 Company means Brush Wellman Inc., and any corporation in a
controlled group of corporations (under Code Section 414(b)) of which Brush
Wellman Inc. is a member, which, with the authorization of the Board adopts the
Plan for the benefit of its employees pursuant to resolution of its board of
directors.

         2.5 Compensation means a Participant's taxable cash compensation
(reportable on Form W-2) for the Plan Year or scheduled pay period, but only to
the extent that such compensation exceeds the limit imposed on compensation
taken into account under the Brush Wellman Inc. Savings and Investment Plan by
reason of Code Section 401(a)(17) as determined by the Plan Administrator.

         2.6 Compensation Committee means the Organization and Compensation
Committee of the Board or at any time that no such committee exists the Board.

         2.7 Deferred Compensation means a Participant's Compensation allocated
to the

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Participant's Account in accordance with Section 4.1 of the Plan.

         2.8 Election Agreement means the written agreement entered into by an
Employee, which shall be irrevocable, pursuant to which the Employee becomes a
Participant in the Plan and selects Deferred Compensation and the period over
which such amounts and investment return thereon will be paid.

         2.9 Employee means, with respect to each Company adopting the Plan,
management and highly compensated employees.

         2.10 Participant means an Employee or former Employee of the Company
who has met the requirements for participation under Section 3.1 and who is or
may become eligible to receive a benefit from the Plan or whose beneficiary may
be eligible to receive a benefit from the Plan.

         2.11 Plan means the Brush Wellman Inc. Executive Deferred Compensation
Plan.

         2.12 Plan Administrator means the administrator or administrative
committee designated pursuant to Article 7.

         2.13 Plan Year means the period beginning on January 1 and ending on
December 31 of each year.

         2.14 Trust means the trust that may be established pursuant to Article
8.

         2.15 Valuation Date means the last business day of each calendar month.

                                    ARTICLE 3

                                  PARTICIPATION

         3.1 Eligibility. An Employee shall be eligible to participate in the
Plan if he or she is an Employee designated as eligible by the Compensation
Committee. Individuals not specifically designated by the Compensation Committee
are not eligible to participate in the Plan.

         3.2 Participation. An Employee shall become a Participant as of the
date he or she satisfies the eligibility requirements of Section 3.1 and
completes all administrative forms required by the Plan Administrator. A
Participant's participation in the Plan shall terminate upon termination of
employment or upon such other events as determined by the Compensation
Committee.

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                                    ARTICLE 4

                                    BENEFITS

         4.1 Deferred Compensation. Subject to any limitations established by
the Compensation Committee or the Plan Administrator, a Participant may elect to
have his or her Compensation deferred in any amount not to exceed the
Participant's full Compensation less applicable tax withholding, and to have
that amount credited to his or her Account as Deferred Compensation. Deferred
Compensation shall be credited to a Participant's Account monthly. A Participant
shall at all times have a fully vested interest in his or her Account.

         4.2 Election Procedures. (a) An Employee who is eligible to become a
Participant in the Plan must complete, sign and file an election form with the
Plan Administrator no later than 30 days following the date on which such
Employee first becomes eligible to participate in the Plan in order to become a
Participant in the Plan Year in which the Employee first becomes eligible.

                  (b) A Participant's Election Agreement shall be effective only
as to Compensation payable with respect to services rendered by the Participant
after the date the Election Agreement is completed, signed and filed with the
Plan Administrator.

                  (c) Each Participant shall specify on his or her Election
Agreement the Compensation the Participant elects to defer each Plan Year and
whether the Deferred Compensation plus investment return credited to such
Deferred Compensation will be paid in a single lump sum or in not more than five
annual installments upon termination of employment.

                  (d) A Participant can change his or her Election Agreement and
an eligible Employee who is not a Participant may become a Participant, as of
any January 1 by completing, signing and filing an Election Agreement with the
Plan Administrator not later than the preceding December 31. A Participant who
does not complete a new Election Agreement for a Plan Year will be deemed to
have elected not to have any Deferred Compensation for the Plan Year.

                                    ARTICLE 5

                                    ACCOUNTS

         5.1 Participant Accounts. The Plan Administrator shall establish an
Account in the name of each Participant for all amounts attributable to Deferred
Compensation for each Plan Year for which the Participant has elected to defer
Compensation. A Participant's Account shall be maintained by the Plan
Administrator in accordance with the terms of this Plan until all of the
Deferred Compensation and investment return to which a Participant is entitled
has been distributed to a Participant or his or her beneficiary in accordance
with the terms of the Plan. A Participant shall be fully vested in his or her
Account at all times.

         5.2 Investment Return. Each Account shall be deemed to bear an
investment return as if invested in the manner elected by the Participant from a
list of investment funds determined by

                                      -3-
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the Compensation Committee from the date of crediting of Deferred Compensation
and income thereon through the date of complete distribution of the Account. The
Company shall have no obligation to actually invest funds pursuant to a
Participant's elections, and if the Company does invest funds, a Participant
shall have no rights to any invested assets other than as a general unsecured
creditor of the Company.

         5.3 Valuation of Accounts. The value of an Account as of any Valuation
Date shall equal the amounts previously credited to such Account less any
payments debited to such Account plus the investment return deemed to be earned
on such Account in accordance with Section 5.2 through the Valuation Date.

                                    ARTICLE 6

                                  DISTRIBUTIONS

         6.1 Termination of Employment. Upon termination of employment for any
reason other than death, a Participant's Account shall be distributed to the
Participant in a single lump sum payment or in not more than five annual
installments, as elected by the Participant on his or her Election Agreement for
the Plan Year. Payment will be made or begin on the business day coinciding with
or next following the sixtieth (60th) day after the Participant's termination of
employment or as soon thereafter as is administratively practicable. Installment
payments shall be calculated and recalculated annually by multiplying the
balance credited to the Participant's Account (including any increase or
decrease resulting from investment return) as of the most recent Valuation Date
by a fraction, the numerator of which is one and the denominator of which is the
remaining number of payments to be made to the Participant.

         6.2 Death. If a Participant dies prior to termination of employment or
complete distribution of his or her Account, the amounts credited to his or her
Account will be distributed in the manner elected by the Participant on his or
her Election Agreement to the beneficiary named by the Participant on a
beneficiary designation form filed with the Company. Payment of a death benefit
will begin on the business day coinciding with or next following the sixtieth
(60th) day after a Participant's death or as soon thereafter as is
administratively practicable. The Participant may change the beneficiary
designation at any time by signing and filing a new beneficiary designation form
with the Plan Administrator. If for any reason no beneficiary is designated or
no beneficiary survives the Participant, the beneficiary shall be the
Participants estate. If the Participant designates a trust as beneficiary, the
Plan Administrator shall determine the rights of the trustee without
responsibility for determining the validity, existence or provisions of the
trust. Further, neither the Plan Administrator nor the Company shall have
responsibility for the application of sums paid to the trustee or for the
discharge of the trust.

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                                    ARTICLE 7

                                 ADMINISTRATION

         7.1 Plan Administrator. The Company shall have the sole responsibility
for the administration of the Plan and is designated as Plan Administrator.

         7.2 Appointment of Administrative Committee. The Company may assign its
duties as Plan Administrator to an Administrative Committee. The members of the
Administrative Committee shall be selected by the Board.

         7.3 Powers of Plan Administrator. The Plan Administrator shall have the
full and exclusive power, discretion and authority to administer the Plan. The
determinations and decisions of the Plan Administrator are final and binding on
all persons. The Plan Administrator's powers shall include but shall not be
limited to, the power to:

                  (a) Maintain records pertaining to the Plan.

                  (b) Interpret the terms and provisions of the Plan, and to
         construe ambiguities and correct omissions.

                  (c) Establish procedures by which Participants may apply for
         benefits under the Plan and appeal a denial of benefits.

                  (d) Determine the rights under the Plan of any Participant
         applying for or receiving benefits.

                  (e) Administer the claims procedure provided in this Article.

                  (f) Perform all acts necessary to meet the reporting and
         disclosure obligations imposed by the Employee Retirement Income
         Security Act of 1974 ("ERISA").

                  (g) Delegate specific responsibilities for the operation and
         administration of the Plan to such employees or agents as it deems
         advisable and necessary.

         In the exercise of its powers, the Plan Administrator shall be entitled
to rely upon all tables, valuations, certificates and reports furnished by any
accountant or consultant and upon opinions given by any legal counsel in each
case duly selected by the Plan Administrator.

         7.4 Limitation of Liability. The Plan Administrator, the Board (and its
members), the Company, and its officers shall not be liable for any act or
omission relating to their duties under the Plan, unless such act or omission is
attributable to their own willful misconduct or lack of good faith.

                                      -5-
<PAGE>   9
         7.5 Claims Procedures. (a) All claims under the Plan shall be directed
to the attention of the Plan Administrator. Any Participant or beneficiary whose
application for benefits or other claim under the Plan has been denied, in whole
or in part, shall be given written notice of the denial by the Plan
Administrator within sixty (60) days after the receipt of the claim. The notice
shall explain that the Participant or beneficiary may request a review of the
denial and the procedure for requesting review. The notice shall describe any
additional information necessary to perfect the Participant's or beneficiary's
claim and explain why such information is necessary. If a Participant or
beneficiary does not receive a written response to a claim within sixty (60)
days after receipt of the claim by the Plan Administrator, the claim will be
deemed to be denied.

                  (b) A Participant or beneficiary may make a written request to
the Plan Administrator for a review of any denial of claims under this Plan. The
request for review must be in writing and must be made within sixty (60) days
after the mailing date of the notice of denial or the deemed denial. The request
shall refer to the provisions of the Plan on which it is based and shall set
forth the facts relied upon as justifying a reversal or modification of the
determination being appealed.

                  (c) A Participant or beneficiary who requests a review of
denial of claims in accordance with this claims procedure may examine pertinent
documents and submit pertinent issues and comments in writing. A Participant or
beneficiary may have a duly authorized representative act on his or her behalf
in exercising his or her right to request a review and any other rights granted
by this claims procedure. The Plan Administrator shall provide a review of the
decision denying the claim within sixty (60) days after receiving the written
request for review. If a Participant or beneficiary does not receive a written
response to a request for a review within the foregoing time limit, such request
will be deemed to be denied. A decision by the Plan Administrator for review
shall be final and binding on all persons.

                                    ARTICLE 8

                                  MISCELLANEOUS

         8.1 Unfunded Plan. (a) The Plan shall be an unfunded plan maintained by
the Company for the purpose of providing benefits for a select group of
management or highly compensated employees. The Company is not required to set
aside, earmark or entrust any fund or money with which to pay its obligations
under this Plan or to invest in any particular investment vehicle and may change
investments of Company assets at any time.

                  (b) The Company may establish a Trust to hold property that
may be used to pay benefits under the Plan. The Trust shall be intended to be a
grantor trust, within the meaning of Section 671 of the Code, of which the
Company is the grantor, and the Plan is to be construed in accordance with that
intention. Notwithstanding any other provision of this Plan, the assets of the
Trust will remain the property of the Company and will be subject to the claims
of its creditors in the event of its bankruptcy or insolvency. No Participant or
person claiming through a Participant will have any priority claim on the assets
of the Trust or any security interest or other right superior to the rights of a
general creditor of the Company.

                                      -6-
<PAGE>   10
                  (c) All benefits under this Plan shall be paid by the Company
from its general assets and/or the assets of the Trust, which assets shall, at
all times, remain subject to the claims of the Company's creditors.

                  (d) Neither Participants, their beneficiaries nor their legal
representatives shall have any right, other than the right of an unsecured
general creditor, against the Company in respect of any portion of a
Participant's Account and shall have no right, title or interest, legal or
equitable, in or to any asset of the Company or the Trust.

         8.2 Spendthrift Provision. The Plan shall not in any manner be liable
for or subject to the debts or liabilities of any Participant or beneficiary. No
benefit or interest under the Plan is subject to assignment, alienation, pledge
or encumbrance, whether voluntary or involuntary, and any purported or attempted
assignment, alienation, pledge or encumbrance of benefits shall be void and will
not be recognized by the Company.

         8.3 Employment Rights. The existence of the Plan shall not grant a
Participant any legal or equitable right to continue as an Employee nor affect
the right of the Company to discharge a Participant.

         8.4 Withholding of Taxes. To the extent required by applicable law, the
Company will withhold from Compensation and/or Deferred Compensation and any
payment hereunder all taxes required to be withheld for federal, state or local
government purposes.

         8.5 Amendment or Termination. Brush Wellman Inc. reserves the right to
amend, modify, suspend or terminate the Plan at any time without prior notice by
action of its Board; provided, however, that no such action may deprive a
Participant of his rights to receive a benefit pursuant to the Plan with respect
to Compensation elected to be deferred prior to such action, determined as
though such benefit were subject to Section 411 of the Internal Revenue Code of
1986, as in effect on September 14, 1999. A Company affiliated with Brush
Wellman Inc. which has adopted this Plan may terminate its participation in the
Plan at any time by action of its board of directors.

         8.6 No Fiduciary Relationship Created. Nothing contained in this Plan,
and no action taken pursuant to the provisions of this Plan, shall create or be
deemed to create a fiduciary relationship between the Company or Plan
Administrator and any Participant, beneficiary or any other person.

         8.7 Release. Any payment to any Participant or beneficiary in
accordance with the provisions of this Plan shall, to the extent thereof, be in
full satisfaction of all claims against the Plan Administrator, the Company and
any of their officers, directors, shareholders, employees or agents.

                                      -7-
<PAGE>   11
         8.8 No Warranty or Representation. The Company makes no warranty or
representation regarding the effect of deferrals made or benefits paid under
this Plan for any purpose.

         8.9 Construction. Words used in the masculine shall apply to the
feminine where applicable; and wherever the context of the Plan dictates, the
plural shall be read as the singular and the singular as the plural.

         8.10 Governing Law. To the extent that Ohio law is not preempted by
ERISA, the provisions of the Plan shall be governed by the laws of the State of
Ohio.

         8.11 Counterparts. This Plan may be signed in any one or more
counterparts each of which together shall constitute one instrument.

         IN WITNESS WHEREOF, the Company has executed this Plan this ____ day of
September, 1999, effective September 14, 1999.

                                      BRUSH WELLMAN INC.

                                      By:_________________________
                                         Name:____________________
                                         Title:___________________

                                      -8-<PAGE>   1
                                                                    Exhibit 10hh

                                 TRUST AGREEMENT

                                       FOR

                               BRUSH WELLMAN INC.

                      EXECUTIVE DEFERRED COMPENSATION PLAN
<PAGE>   2
                                TABLE OF CONTENTS

<TABLE>
<CAPTION>

                                                                                 Page

Recitals                                                                          1

<S>             <C>                                                               <C>
Section 1 -     Definitions                                                       1

Section 2 -     Trust Fund                                                        3

Section 3 -     Separate Accounts                                                 4

Section 4 -     Change of Control                                                 4

Section 5 -     Payments to Participants and Beneficiaries                        4

Section 6 -     Trustee Responsibility Regarding Payments to
                Participants When Corporation Insolvent                           6

Section 7 -     Payments to Corporation                                           8

Section 8 -     Additional Powers, Duties, and Immunities of the Trustee          9

Section 9 -     Accounting by Trustee                                            14

Section 10 -    Responsibility of Trustee                                        14

Section 11 -    Compensation and Expenses of Trustee                             15

Section 12 -    Tenure and Succession of Trustees                                15

Section 13 -    Amendment and Termination                                        17

Section 14 -    Amendments to Plan                                               17

Section 15 -    General Provisions                                               18

Exhibits
</TABLE>
<PAGE>   3
                                 TRUST AGREEMENT
                                       FOR
                               BRUSH WELLMAN INC.
                      EXECUTIVE DEFERRED COMPENSATION PLAN

                  THIS AGREEMENT made this _______ day of ______________, 1999
by and between BRUSH WELLMAN INC., an Ohio corporation (the "Corporation") and
FIFTH THIRD BANK (together with any successor designated in accordance with
Section 12 of this Agreement, the "Trustee"),

                              W I T N E S S E T H:

                  WHEREAS, the Corporation has adopted the Brush Wellman Inc.
Executive Deferred Compensation Plan, (the "Plan"), a copy of which is attached
as Exhibit A hereto; and

                  WHEREAS, the Corporation has incurred or expects to incur
liability under the terms of the Plan with respect to the individuals
participating in the Plan;

                  WHEREAS, the Corporation wishes to establish a trust (the
"Trust") and to contribute to the Trust, assets that shall be held therein
subject to the claims of the Corporation's creditors in the event of the
Corporation's Insolvency, as herein defined, until paid to Plan Participants and
their Beneficiaries in such manner and at such times as specified in the Plan;

                  WHEREAS, it is the intention of the parties that this Trust
shall constitute an unfunded arrangement and shall not affect the status of the
Plan as unfunded for purposes of Title I of the Employee Retirement Income
Security Act of 1974; and

                  WHEREAS, it is the intention of the Corporation to make
contributions to the Trust to provide itself with a source of funds to assist it
in the meeting of its liabilities under the Plan;

                  NOW, THEREFORE, the parties do hereby establish the Trust and
agree that the Trust shall be comprised, held and disposed of as follows:

SECTION 1. DEFINITIONS

                  As used in this Agreement, the following words and phrases
shall have the following meanings:
<PAGE>   4
                  (a) "Beneficiary" shall mean a "Beneficiary" as determined
pursuant to the Plan, if the Participant (as hereinafter defined) is deceased,
or a permitted assignee of a Participant as determined pursuant to the Plan.

                  (b) "Board" shall mean the Board of Directors of the
Corporation.

                  (c) "Change of Control" shall mean, with respect to the
Corporation, that if subsequent to [___________, 1999] any of the following
events shall occur:

         (1) The Board at any time shall fail to include a majority of Directors
  who are either "Original Directors" or "Approved Directors". An Original
  Director is a Director who is serving on [____________, 1999]. An Approved
  Director is a Director, who after such date, is elected, or is nominated for
  election by the shareholders, by a vote of at least two-thirds of the Original
  Directors and the previously elected Approved Directors, if any.

         (2) Any person (as the term "person" is defined in Section 1701.01(G)
  of the Ohio Revised Code) shall have made a "control share acquisition" (as
  the term "control share acquisition" is defined in Section 1701.01(Z) of the
  Ohio Revised Code) of shares of the Corporation without having first complied
  with Section 1701.831 of the Ohio Revised Code (dealing with control share
  acquisitions).

         (3) The Board shall at any time determine in the good faith exercise of
  its judgment that (A) any particular actual or proposed accumulation of shares
  of the Corporation, tender offer for shares of the Corporation, merger,
  consolidation, sale of assets, proxy contest, or other transaction or event or
  series of transactions or events will, or is likely to, if carried out, result
  in a Change of Control falling within (1) above or (2) above, and (B) it is in
  the best interests of the Corporation and its shareholders, and will serve the
  intended purposes of this Agreement, if such transaction or event or series of
  transactions or events is deemed to be a Change of Control.

                  (d) "Code" shall mean the Internal Revenue Code of 1986, as
amended, or any successor provision thereto.

                  (e) "Committee" shall mean the Committee and the Committee's
delegate(s) pursuant to the Plan.

                  (f) "Insolvent" or "Insolvency" shall mean that the
Corporation is unable to pay its debts as they become due or is subject to a
pending proceeding as a debtor under the United States Bankruptcy Code, as now
in force or hereafter amended.

                  (g) "Participant" shall mean a "Participant" as defined in the
Plan and for whom an account has been established pursuant to Section 3 of this
Agreement.

                                      -2-
<PAGE>   5
                  (h) "Plan" shall mean the Brush Wellman Inc. Executive
Deferred Compensation Plan, as the same shall be amended from time to time.

                  Any capitalized term used herein as a defined term that is not
defined herein shall have the meaning set forth in the Plan.

SECTION 2. TRUST FUND.

                  (a) The Corporation shall make an initial contribution to the
Trust, which shall become principal of the Trust to be held, administered and
disposed of by Trustee as provided in this Agreement.

                  (b) The Trust hereby established shall be revocable by the
Corporation prior to a Change of Control; it shall become irrevocable upon a
Change of Control. The Trust hereby established shall be amended only as
provided in Section 13 of this Agreement.

                  (c) The Trust is intended to be a grantor trust, of which the
Corporation is the grantor, within the meaning of subpart E, part I, subchapter
J, chapter 1, subtitle A of the Code, and shall be construed accordingly.

                  (d) The principal of the Trust, and any earnings thereon,
shall be held in trust separate and apart from other funds of the Corporation
and shall be used exclusively for the uses and purposes of Participants and
Beneficiaries and general creditors as herein set forth. Participants and
Beneficiaries shall have no preferred claim on or any beneficial ownership or
security interest in any assets of the Trust. Any rights created under the Plan
and this Agreement shall be mere unsecured contractual rights of Participants
and their Beneficiaries against the Corporation. Any assets held by the Trust
will be subject to the claims of the Corporation's general creditors under
federal and state law in the event of Insolvency.

                  (e) The Corporation, in its sole discretion, may at any time
or from time to time make additional deposits to the Trust of cash or other
property that is acceptable to the Trustee to augment the principal of any
separate account hereunder to be held, administered and disposed of by Trustee
as provided in this Agreement. Neither the Trustee nor any Participant or
Beneficiary shall have any right to compel such additional deposits.

                                      -3-
<PAGE>   6
SECTION 3. SEPARATE ACCOUNTS.

                  The Trustee shall create and maintain one or more separate
accounts in the name of each Participant named in Exhibit 3 attached hereto and
made a part of this Agreement and any subsequent addition(s) to such Exhibit and
shall allocate to such separate account(s) the cash or other property
contributed in respect of such Participant as indicated in such Exhibit or
addition to such Exhibit. Each such separate account shall be maintained and
administered separately, and credited and debited, as herein provided, but all
such separate accounts may be invested by the Trustee as a single trust fund.

SECTION 4. CHANGE OF CONTROL.

                  If a Change of Control occurs (i) the Corporation shall
immediately deliver to the Trustee, with a copy to each Participant or
Beneficiary, a written notice to that effect authorized by the Committee and
signed by two officers of the Corporation, or (ii) a Participant or Beneficiary,
may, with a copy to the Corporation, notify the Trustee in writing to that
effect. The Trustee may conclusively rely on any such notification from the
Corporation. If the Trustee receives such notification from a Participant or
Beneficiary and not from the Corporation, the Trustee shall immediately notify
the Corporation and the Board thereof. If the Corporation does not within
fifteen (15) business days after receipt of such notification from the Trustee
deliver to the Trustee written objection thereto, a Change of Control shall be
deemed to have occurred for purposes of this Agreement; if the Trustee timely
receives such written objection from the Corporation, the Trustee shall
forthwith, in its sole discretion, determine whether a Change of Control has
occurred, and if the Trustee determines that a Change of Control has occurred, a
Change of Control shall be deemed to have occurred for purposes of this
Agreement; and during the period in which the Trustee is determining whether a
Change of Control has occurred, the Trustee shall administer this Agreement as
though a Change of Control had occurred, except that the Trustee shall make no
payments to Participants and Beneficiaries from the Trust other than as provided
in Section 5(c) of this Agreement. The determination of the Trustee upon any
such objection shall be final and binding for purposes of this Agreement. In
making such determination, the Trustee may in its sole discretion consult with
independent legal counsel and shall incur no liability for acting or refraining
from acting in accordance with the advice of such counsel. Except as otherwise
provided in this Section 4, the Trustee shall have no independent obligation to
make a determination as to the occurrence of a Change of Control.

SECTION 5. PAYMENTS TO PARTICIPANTS AND BENEFICIARIES.

                  (a) The Corporation shall provide the Trustee with a copy of
each amendment to the Plan within a reasonable period after the adoption
thereof. The Corporation shall maintain adequate records identifying its
obligations to each Participant and Beneficiary under the Plan. At any time
reasonably requested by the

                                      -4-
<PAGE>   7
Trustee after a Change of Control, the Corporation shall provide the Trustee
with copies of such records.

                  (b) After a Change of Control, and provided that the
Corporation is not then Insolvent, upon receipt by the Trustee of both (i) a
certificate signed by the Participant or Beneficiary, substantially in the form
of Exhibit 5(b)(1) attached hereto and made a part of this Agreement, and (ii)
an affidavit executed by the Participant or Beneficiary in the form of Exhibit
5(b)(2) attached hereto and made a part of this Agreement, the Trustee shall
make a payment to the Participant or Beneficiary from the assets of his separate
account(s) under the Trust in an amount equal to the lesser of the amount
specified in such certificate or the amount of assets then held in his separate
account(s) under the Trust. Upon receipt of an affidavit in the form of Exhibit
5(b)(2) attached hereto and made a part of this Agreement, the Trustee shall
forthwith forward a copy of the affidavit to the Corporation. [Whenever the
Trustee pays any amount to a Participant or Beneficiary pursuant to this Section
5(b) on a date later than the date on which the Corporation was obligated to pay
the amount under the Plan, the Trustee shall also pay to the Participant or
Beneficiary an additional amount, subject to the sufficiency of the assets of
his separate account(s), as interest on the amount so paid. The interest shall
be paid for the period from the date on which the Corporation was obligated to
pay the amount through the date on which the Trustee pays the amount and shall
be calculated at the rate borne by United States Treasury Bills of ninety (90)
days maturity as determined from the Treasury auction immediately preceding the
date of such payment.] The Trustee shall use its reasonable best efforts to make
such payment within ten business days following satisfaction of the conditions
for such payment under this Section 5(b), or, if later than ten business days
after the satisfaction of the conditions for such payment under this Section
5(b), as soon as reasonably practicable.

                  (c) Provided that the Corporation is not then Insolvent, upon
receipt by the Trustee of a written direction from the Committee, the Trustee
shall make a payment to the Participant of Beneficiary from the assets of his
separate account(s) under the Trust in an amount equal to the lesser of the
amount specified in such written direction or the amount of assets then held in
his separate account(s) under the Trust. Such payment shall be by bank check or
cashier's check and shall be transmitted to the Participant or Beneficiary
together with a letter substantially in the applicable form of Exhibit 5(c)
attached hereto and made a part of this Agreement signed by an officer of the
Trustee. The Trustee shall use its reasonable best efforts to make such payment
within ten business days following satisfaction of the conditions for such
payment under this Section 5(c), or, if later than ten business days after the
satisfaction of the conditions for such payment under this Section 5(c) , as
soon as reasonably practicable.

                  (d) The Trustee shall, after consultation with the Committee,
make such provision as it considers necessary or appropriate for the withholding
of any federal, state, and local taxes that may be required to be withheld in
connection with and/or from any payment under Section 5(b) of this Agreement.
The Corporation shall make such provision as it considers necessary or
appropriate for the withholding of any federal,

                                      -5-
<PAGE>   8
state, and local taxes that may be required to be withheld in connection with
any payment under Section 5(c) of this Agreement, but the Committee may in the
written notice to the Trustee directing payment instruct the Trustee to withhold
such taxes and transmit such taxes to the appropriate authority.

                  (e) If the amount of assets of his separate account(s) under
the Trust is not sufficient to provide for full payment to the Participant or
Beneficiary as specified in Section 5(b) of this Agreement or Section 5(c) of
this Agreement, the Corporation shall make the balance of such payment as
provided in the Plan and the Trustee shall have no obligation with respect
thereto.

                  (f) If any payment to the Participant or Beneficiary referred
to in Section 5(b) of this Agreement or Section 5(c) of this Agreement exceeds
that to which the Participant or Beneficiary is entitled pursuant to the Plan,
the Participant or Beneficiary shall be obligated to repay the Corporation with
respect to the excess, but the Trustee shall have no obligation with respect to
the excess.

                  (g) Receipt by a Participant or Beneficiary of any payment or
distribution from the Trust shall be deemed to constitute agreement by the
Participant or Beneficiary to the terms and conditions required for the receipt
of benefits pursuant to the Plan.

                  (h) Notwithstanding any other provision herein to the
contrary, in no circumstances shall the Trustee be liable to any Participant or
Beneficiary for any insufficiency of the Trust assets (or his separate
account(s)) to discharge payments hereunder, rather, the liability for all such
payments shall be and remain the ultimate responsibility of the Corporation, and
if the assets of any Participant's separate account(s) under the Trust are
insufficient at any time to make payments to such Participant or Beneficiary in
accordance with the provisions of the Plan, the Corporation shall make the
balance of any such payment as it falls due.

SECTION 6. TRUSTEE RESPONSIBILITY REGARDING PAYMENTS TO PARTICIPANTS WHEN
                  CORPORATION INSOLVENT.

                  (a) At all times during the continuance of this Trust, the
principal and income of the Trust shall be subject to claims of general
creditors of the Corporation under federal and state law as set forth below.

         (1)      The Board and the highest ranking officer of the Corporation
                  shall have the duty to inform the Trustee in writing of the
                  Corporation's Insolvency. If a person claiming to be a
                  creditor of the Corporation alleges in writing to the Trustee
                  that the Corporation has become Insolvent, the Trustee shall
                  determine whether the Corporation is Insolvent and, pending
                  such determination, the Trustee shall discontinue payment of
                  benefits to Participants or their Beneficiaries.

                                      -6-
<PAGE>   9
         (2)      Unless the Trustee has actual knowledge of the Corporation's
                  Insolvency, or has received notice from the Corporation or a
                  person claiming to be a creditor alleging that the Corporation
                  is Insolvent, the Trustee shall have no duty to inquire
                  whether the Corporation is Insolvent. The Trustee may in all
                  events rely on such evidence concerning the Corporation's
                  solvency as may be furnished to the Trustee and that provides
                  the Trustee with a reasonable basis for making a determination
                  concerning the Corporation's solvency.

         (3)      If at any time the Trustee has determined that the Corporation
                  is Insolvent, the Trustee shall discontinue payments to
                  Participants or their Beneficiaries and shall hold the assets
                  of the Trust for the benefit of the Corporation's general
                  creditors. Nothing in this Agreement shall in any way diminish
                  any rights of Participants or their Beneficiaries to pursue
                  their rights as general creditors of the Corporation with
                  respect to benefits due under the Plan or otherwise.

         (4)      The Trustee shall resume the payment of benefits to
                  Participants or their Beneficiaries in accordance with Section
                  5 of this Agreement only after the Trustee has determined that
                  the Corporation is not Insolvent (or is no longer Insolvent).

                  (b) If the Trustee discontinues payments of benefits from the
Trust pursuant to Section 6(a) of this Agreement and subsequently resumes such
payments, subject to the sufficiency of each Participant's separate account(s)
to make required payments to such Participant or Beneficiary, the first payment
following such discontinuance shall include the aggregate amount of all payments
which would have been made to the Participant or Beneficiary in accordance with
the provisions of the Plan, during the period of such discontinuance, less the
aggregate amount of payments made to the Participant or Beneficiary by the
Corporation in lieu of the payments provided for hereunder during any such
period of discontinuance.

                                      -7-
<PAGE>   10
SECTION 7. PAYMENTS TO CORPORATION.

                  (a) Except as provided in Sections 7(b), 7(c), 13(a), or 13(b)
hereof, the Corporation shall have no right or power to direct the Trustee to
pay any assets of the Trust to the Corporation.

                  (b) Upon the written direction of the Committee with respect
to the separate account(s) of a Participant or Beneficiary and delivered to the
Trustee prior to a Change of Control, the Trustee shall pay to the Corporation
all or such portion of any assets of such separate account(s) of the Participant
or Beneficiary then in the Trust as may be specified in such direction.

                  (c) Within ten business days after payment, if any, in full by
the Corporation or by the Trustee to the Participant or Beneficiary pursuant to
Section 5 of this Agreement, of all benefits to which the Participant or
Beneficiary is entitled under the Plan, as determined pursuant to this Section
7(c), the Trustee shall distribute to the Corporation all of the assets, if any,
of the separate account(s) of the Participant or Beneficiary held by the Trust.
The Trustee shall make such payment to the Corporation only upon receipt by the
Trustee of a written request from the Corporation authorized by the Committee
and signed by two officers of the Corporation and after it has made a
determination pursuant to this Section 7(c) that the Participant or Beneficiary
has received payment in full of all amounts to which he is or may be entitled
(or is no longer and will not become entitled to any amounts) under the Plan.
Together with any request for payment with respect to a Participant or
Beneficiary, the Corporation shall provide the Trustee with copies of the
Corporation's books and records identifying the Corporation's obligations to the
Participant or Beneficiary under the Plan, and such other evidence of the
Corporation's satisfaction of the Corporation's obligations under the Plan as
the Corporation shall desire. Upon receipt of the Corporation's request, the
Trustee shall notify the Participant or Beneficiary that it is considering the
Corporation's request and shall provide the Participant or Beneficiary with a
copy of all documents and information submitted by the Corporation. The
Participant or Beneficiary may object to the Corporation's request in writing
and may submit any information or arguments to support his position within
thirty (30) days of such notice or such extended time as the Trustee may, upon
application, grant. If the Participant or Beneficiary objects, the Trustee shall
so advise the Corporation and afford the Corporation a reasonable opportunity to
respond. If there is a disputed request, the Trustee shall determine in its sole
discretion whether the Participant or Beneficiary is or may be entitled to any
amounts under the Plan. In making its determination, the Trustee shall adhere to
the following: The Corporation shall have the burden of proving its claim by
clear and convincing evidence, and the Trustee shall resolve any reasonable
doubt in favor of the Participant or Beneficiary. In making its decision, the
Trustee shall disregard any amendment or modification to the Plan or an Option
Agreement adopted on or after a Change of Control that purports to decrease
benefits with respect to the Participant or Beneficiary. The decision of the
Trustee upon any such request shall be final and binding for purposes of this
Agreement. Notwithstanding the foregoing, if the Trustee

                                      -8-
<PAGE>   11
determines in its sole discretion that, in the event of any disputed request as
described in this Section 7(c), it is unable to determine the proper party to
which assets are payable, the Trustee may thereupon apply to a court of
competent jurisdiction, including by way of an interpleader action, for a
judicial determination of the proper payee. The Trustee shall have no liability
with respect to any such action, other than for the payment of assets in
accordance with such judicial determination.

SECTION 8. ADDITIONAL POWERS, DUTIES, AND IMMUNITIES OF THE TRUSTEE.

                  (a) In the administration of the Trust, the Trustee shall,
subject to Section 8(b), have the following additional powers, duties, and
immunities:

         (i) The Trust assets, including any income accumulated and added to
  principal, shall be invested by the Trustee with the purpose of the
  preservation of principal and liquidity. The rate of return on investments,
  while important, shall not take precedence over safety of principal.
  Notwithstanding the two immediately preceding sentences, the Trust assets may
  be invested by the Trustee in any Designated Property, and the Corporation or
  the Committee shall provide timely written notice to the Trustee of the
  property that is from time to time Designated Property under the Plan. The
  Trustee shall have the powers:

                  (A) to receive, hold, manage, improve, repair, sell, lease,
           pledge, mortgage, exchange or otherwise dispose of all or any part of
           the Trust assets upon such terms, prices and conditions as it deems
           advisable;

                  (B) to invest and reinvest the Trust assets in any property or
           undivided interest therein, wherever located, including bonds, notes
           (secured or unsecured), stock of corporations, time and savings
           deposits (including savings deposits and certificates of deposit in
           the Trustee or its affiliates if such deposits bear a reasonable rate
           of interest), real estate or any other interest therein, shares in
           investment trusts and stock in mutual funds and investment companies
           (including investment trusts, mutual funds, and investment companies
           to which the Trustee or an affiliate thereof may serve as investment
           advisor, sponsor, underwriter, manager, administrator, distributor,
           custodian, transfer agent, or in any other capacity for which it may
           receive a fee), and annuities and other policies of insurance, upon
           such terms, prices and conditions as it deems advisable, without
           being restricted by any statute or rule of law governing the
           investments in which a trustee may invest funds held by it, and
           without regard to the proportion which an investment may bear to the
           entire amount of the Trust assets or any separate account under the
           Trust;

                                      -9-
<PAGE>   12
                  (C) with the prior, written approval of the Committee, to
           borrow money upon such terms and conditions and for such purposes as
           it deems advisable;

                  (D) to vote in person or by proxy the stocks, securities, or
           other investments which it holds as Trustee; to execute and deliver
           proxies, powers of attorney, and other agreements which it deems
           advisable; to exchange the securities of any corporation or issuing
           authority for other securities upon such terms and conditions as it
           deems advisable; to consent to or oppose any corporate action; to pay
           all assessments and subscriptions as it deems advisable; to exercise
           options and, in general, to exercise in respect of all stocks,
           securities, or other investments which it holds as Trustee all
           rights, powers and privileges as might be exercised by an individual
           in his own right;

                  (E) to execute such instruments, deeds, leases, mortgages,
           contracts, agreements, assignments, transfers, bills of sale, and
           other documents of any kind, as it deems advisable; and

                  (F) to retain uninvested cash in the Trust either in its
           banking department or elsewhere to meet contemplated payments or
           transfers from the Trust, or temporarily awaiting investment, without
           liability for interest thereon.

         (ii) The Trustee is empowered to register securities, and to take and
  hold title to other property, in the name of the Trustee or in the name of a
  nominee without disclosing the Trust. Securities also may be held in bearer
  form and may be held in bulk with certificates of the same class and issuer
  which are assets of other fiduciary accounts. The Trustee shall be responsible
  for any wrongful acts of any nominee of the Trustee.

         (iii) The Trustee is empowered to employ such agents and attorneys as
  the Trustee shall deem advisable and to determine and pay the reasonable
  compensation of any agents and attorneys so employed, without diminution of
  the compensation of the Trustee. Unless paid by the Corporation, such
  compensation shall be charged against the separate accounts from time to time
  held under the Trust in such proportions as the Trustee shall deem equitable.
  The Trustee shall not be liable for any neglect, omission, or wrong doing of
  any such agent or attorney if reasonable care is exercised in the selection of
  such agent or attorney.

         (iv) The Trustee is empowered to take all actions necessary or
  advisable in order to collect any insurance, annuity, or other benefits or
  payments of which the Trustee is the designated beneficiary. The Trustee
  further is empowered to enforce, release, compromise, and settle any and all
  claims in favor of or against the Trust or

                                      -10-
<PAGE>   13
any separate account under the Trust, whether or not such claims are in
litigation, upon such terms and conditions as the Trustee shall deem advisable.

         (v) The Trustee is authorized to segregate and hold separately any part
  or all of the Trust assets from time to time allocable to the separate
  accounts then existing or to hold any part or all of the Trust assets as a
  single commingled fund and allocate undivided interests in the same among the
  separate accounts then existing.

         (vi) The Trustee is empowered to pay out of the Trust, as a general
  charge thereon, or in the sole discretion of the Trustee as a charge to one or
  more affected separate accounts any and all taxes of whatsoever nature
  assessed against the Trust; provided, however, that, if the Corporation shall
  notify the Trustee in writing that in the opinion of its counsel any such tax
  is not lawfully assessed, the Trustee, if so requested by the Corporation,
  shall contest the validity of such tax in any manner deemed appropriate by the
  Corporation or its counsel. The word "taxes", as used herein, shall be deemed
  to include any interest or penalties assessed in respect to such taxes. Unless
  the Trustee first shall have been indemnified to its satisfaction by the
  Corporation, however, the Trustee shall not be required to contest the
  validity of any tax, to institute, maintain, or defend against any other
  action or proceeding, or to incur any other expense in connection with the
  Trust, except to the extent that the Trust is sufficient therefor.

         (vii) The Trustee shall have all other powers and duties conferred or
  imposed on trustees by law which are consistent with the provisions of this
  instrument and such further powers as may be required to give effect to the
  powers and duties of the Trustee expressly set forth in this instrument.

         (viii) Notwithstanding anything to the contrary in this Section or any
  other provision of this Agreement or any power granted to the Trustee pursuant
  to law: The Trustee shall have no power to invest any of the Trust assets in
  securities or obligations of the Corporation or any subsidiary or affiliate of
  the Corporation nor any power that could give this Trust the objective of
  carrying on a business and dividing the gains therefrom, within the meaning of
  Section 301.7701-2 of the Procedure and Administrative Regulations promulgated
  pursuant to the Code. If an insurance policy or annuity contract is held as an
  asset of the Trust, the Trustee shall have no power to name a beneficiary of
  such policy or contract other than the Trust, to assign the policy or contract
  (as distinct from conversion of the policy or contract to a different form)
  other than to a successor Trustee, or to loan to any person the proceeds of
  any borrowing against or withdrawal from such policy or contract.

         (ix) The Trustee shall not be required to furnish bond, nor shall the
  Trustee be required to obtain leave or confirmation from any court before
  exercising any of the powers or performing any of the duties of the Trustee;
  but the Trustee at all times shall be obligated to act in good faith and to
  exercise reasonable prudence.

                                      -11-
<PAGE>   14
         (x) No person dealing with the Trustee shall be obligated to inquire
  into the Trustee's powers with respect to any action which the Trustee may
  propose to take, and the receipt of the Trustee for any payment made or
  property transferred to the Trustee by any person shall constitute a complete
  acquittance to such person for such payment or property and its proper
  application.

                  (b) During periods prior to a Change of Control, the Committee
shall have the following powers and authority with respect to the assets of the
Participant's or Beneficiary's separate account(s) held in the Trust:

         (i) The Committee may direct the Trustee to hold the assets held in the
  Trust as one fund in accordance with and for the purposes hereinafter set
  forth in this Section 8(b) or from time to time to divide and redivide the
  assets held in the Trust, for such purposes, into two or more funds, of which
  the first shall be designated as "Investment Fund A" and each other shall be
  designated by another letter of the alphabet. For the purposes of this Section
  8(b), the Trust or, in the event of its division as provided in this Section
  8(b), each separate Investment Fund, shall hereinafter be referred to as an
  "Investment Fund". At the time of the first division and of each redivision,
  the Committee may specify the part of the assets held in the Trust to be
  allocated to each Investment Fund, and the Committee may reallocate all or any
  part of such assets between or among the Investment Funds from time to time.
  For all purposes other than investment purposes (except as otherwise provided
  in this Agreement with respect to separate accounts), such assets shall be
  held as a single trust fund.

         (ii) From time to time the Committee may designate one or more persons,
  or may designate itself, to act as an "investment manager" hereunder by
  written notice to the Trustee, with authority to direct the investment and
  reinvestment of the Investment Fund or Funds specified in such notice. The
  Trustee may rely upon any such appointment continuing in effect until it
  receives written notice from the Committee of its revocation. The Committee
  may by similar notice modify or terminate such designation and authority from
  time to time. So long as, and to the extent that, any such designation is in
  effect, the Trustee shall invest, reinvest and retain the Investment Fund
  assigned to an investment manager and the Trustee shall exercise its
  investment powers set forth in Section 8(a) (including the powers set forth in
  clause (i)(D) thereof) in accordance with instructions received from such
  investment manager. So long as, and to the extent that, no such designation is
  in effect, the Trustee shall invest, reinvest and retain, in accordance with
  its sole discretion, that part of the Trust not assigned to an investment
  manager.

         (iii) All instructions from an investment manager to the Trustee shall
  be in writing (or by telephone or telegraph confirmed in writing) and shall be
  complete in all reasonable and necessary details. The Trustee shall have no
  duty to question such instructions nor shall the Trustee incur any liability
  for following such instructions. The Corporation shall indemnify the Trustee,
  in its capacity as Trustee and

                                      -12-
<PAGE>   15
individually, from any liability with regard to following such instructions from
an investment manager or from refraining from action in the absence of
instructions from a duly appointed investment manager. Without limitation of the
generality of the preceding sentence, the Corporation shall indemnify and hold
the Trustee harmless against any and all actions, claims, demands, liabilities,
losses, damages or expenses of whatsoever kind and nature, whenever arising,
which arise from the failure by the Trustee to pay for property purchased by the
investment manager for the Trust, by reason of the insufficiency of funds in the
Trust.

         (iv) The Committee shall regularly notify each designated investment
  manager of the anticipated requirements for disbursements from the Investment
  Fund or Funds under his or its direction, and shall direct the Trustee to hold
  cash funds uninvested in such amounts and for such periods of time as may
  appear to be reasonably necessary to meet cash requirements. Notwithstanding
  the appointment of an Investment Manager, the Trustee is authorized in its
  sole discretion to invest and reinvest the cash forming a part of any
  Investment Fund, which it has not been directed to hold uninvested, in such
  certificates of deposit, variable demand notes, corporate money market
  instruments such as commercial paper and U.S. Treasury bills and notes,
  repurchase agreements or other evidences of indebtedness which are payable on
  demand or which generally have a maturity date of not more than fifteen (15)
  months from the time of acquisition and including units of any common trust
  fund holding any such investments administered by the Trustee, as the Trustee
  in its sole discretion deems suitable for the Investment Fund. The Trustee
  does not guarantee any such obligation, deposit, note, or other investment
  made by it from loss, depreciation, or diminution in value.

         (v) Payment of the cost of the acquisition, sale or exchange of any
  security or other property for an Investment Fund shall be charged to such
  Investment Fund.

         (vi) The investment manager shall receive such compensation as may be
  agreed upon by it and the Committee, which compensation shall be paid by the
  Corporation.

         (vii) If the Committee appoints an investment manager, the Trustee
  shall be relieved of its rights, duties and obligations hereunder to the
  extent delegated to such investment manager in accordance with this Agreement.

         (viii) All actions (and inaction) by the Committee pursuant to this
  Section 8(b) shall be in a nonfiduciary capacity (except with respect to any
  fiduciary duties to the Corporation and its shareholders).

SECTION 9.        ACCOUNTING BY TRUSTEE.

                  The Trustee shall keep accurate and detailed records of all
investments, receipts, disbursements, and all other transactions required to be
done, including such specific records as shall be agreed upon in writing between
the Committee and the

                                      -13-
<PAGE>   16
Trustee. All such accounts, books and records shall be open to inspection and
audit at all reasonable times by the Committee, the Corporation, and, after a
Change of Control and with respect to his separate account(s) only, by a
Participant or his Beneficiary. Within sixty (60) days following the close of
each fiscal quarter of the Corporation and within sixty (60) days after the
resignation or removal of the Trustee, the Trustee shall deliver to the
Committee, and after a Change of Control and with respect to his separate
account(s) only, to each Participant or his Beneficiary, a written account of
its administration of the Trust during such quarter or during the period from
the close of the last preceding quarter to the date of such resignation or
removal, setting forth all investments, receipts, disbursements and other
transactions effected by it, including a description of all securities and
investments purchased and sold with the cost or net proceeds of such purchases
or sales (accrued interest paid or receivable being shown separately), and
showing all cash, securities and other property held in the Trust at the end of
such quarter or as of the date of such resignation or removal, as the case may
be. In the absence of the filing in writing with the Trustee by the Committee of
exceptions or objections to any such account within 60 days, the Committee, or
the Participant or his Beneficiary with respect to his separate account(s) after
a Change of Control, shall be deemed to have approved such account, and in such
case, or upon the written approval by the Committee, or the Participant or his
Beneficiary with respect to his separate account(s) after a Change of Control,
of any such account, the Trustee shall be released, relieved and discharged with
respect to all matters and things set forth in such account as though such
account had been settled by the decree of a court of competent jurisdiction.

SECTION 10.       RESPONSIBILITY OF TRUSTEE.

                  (a) The Trustee shall act with the care, skill, prudence and
diligence under the circumstances then prevailing that a prudent corporate
trustee acting in a like capacity and familiar with such matters would use in
the conduct of an enterprise of a like character and with like aims; provided,
however, that the Trustee shall incur no liability to anyone for any action
taken pursuant to a direction, request, or approval contemplated by and
complying with the terms of this Agreement.

                                      -14-
<PAGE>   17
                  (b) The Trustee shall not be required to undertake or to
defend any litigation on behalf of the Trust, unless it be first indemnified by
the Corporation against its prospective costs, expenses and the liability, and
the Corporation hereby agrees to indemnify Trustee for such costs, expenses, and
liability. If the Corporation does not make payment to the Trustee of an agreed
indemnity for such costs, expenses, and liabilities in a reasonably timely
manner, the Trustee may obtain payment from the Trust to the extent permitted
under applicable law and in accordance with Section 11.

                  (c) The Trustee may consult with legal counsel (who may also
be counsel generally or specially for the Trustee or the Corporation or their
affiliates) with respect to any of its duties or obligations hereunder, and
shall be fully protected in acting or refraining from acting in accordance with
the advice of such counsel.

                  (d) The Trustee may rely and shall be protected in acting or
refraining from acting upon any written notice, instruction or request furnished
to it hereunder and reasonably believed by it to be genuine and to have been
signed or presented by the Corporation, the Committee, or a Participant or
Beneficiary.

SECTION 11.       COMPENSATION AND EXPENSES OF TRUSTEE.

                  The Trustee shall be entitled to receive reasonable
compensation for its services in accordance with its published fee schedule as
in effect from time to time. The Trustee shall be entitled to receive its
reasonable expenses incurred with respect to the administration of the Trust,
including fees and expenses incurred by the Trustee pursuant to this Agreement
(including attorney's fees and court costs). Such compensation and expenses
shall be paid by the Corporation. If the Corporation fails to pay such
compensation and expenses within thirty (30) business days after written request
therefor has been made by the Trustee, such compensation and expenses may be
paid from the assets of the Trust and charged against the separate accounts from
time to time held under the Trust in such proportions as the Trustee shall deem
equitable, but the Corporation shall remain liable therefor and the Trustee
shall take reasonable action, including, but not limited to, institution of
legal action, to collect such compensation and expenses and upon such collection
shall credit the separate accounts under the Trust to which such compensation
and expenses were charged with the net proceeds of such collection in such
proportions as the Trustee deems equitable. The expenses incurred by the Trustee
in connection with any reasonable action required to obtain payment of such
compensation or expenses shall constitute additional expenses for which the
Trustee shall be entitled to reimbursement under this Section.

SECTION 12.       TENURE AND SUCCESSION OF TRUSTEES.

                  (a) Each Trustee from time to time serving under this
Agreement shall have the right to resign by at least 45 days advance written
notice to the Committee (unless the Committee shall accept shorter notice), and
if a Change of Control has not occurred the Committee may remove any Trustee
from time to time serving under this

                                      -15-
<PAGE>   18
Agreement by at least 45 days advance written notice (unless the Trustee shall
accept shorter notice) to the Trustee received by the Trustee prior to a Change
of Control. No such resignation or removal shall become effective, however,
until the acceptance of the Trust by a successor Trustee designated in
accordance with Section 12(b) of this Agreement.

                  (b) If the Trustee, or any successor to it designated in
accordance with this Section 12(b), for any reason shall resign, decline, cease
or otherwise fail to serve as Trustee or be removed by the Committee, a new
trustee shall be appointed by the Committee if a Change of Control shall not
have occurred. If the Trustee should resign, decline, cease, or otherwise fail
to serve as Trustee, and a Change of Control has occurred or does occur, or
within 45 days of such resignation, declination, cessation, or failure to serve
the Committee shall not have notified the Trustee of a successor trustee, the
Trustee shall appoint a successor trustee or may, in its sole discretion, apply
to a court of competent jurisdiction for the appointment of a successor trustee.
A successor trustee shall be a bank or trust Company (1) that the appointing
person or entity in its sole discretion considers an appropriate trustee for the
Trust, having due regard for the objectives, magnitude, and expected duration of
the Trust; (2)(i) whose trust assets under investment would place it among the
100 largest trust companies in the United States or (ii) which is a national
banking association or established under the laws of one of the states of the
United States and which has gross assets in excess of $1 billion; and (3) which
is independent and not subject to the control of the Corporation or a
Participant or Beneficiary. The preceding determinations shall be made as of the
time of appointment of the successor trustee.

                  (c) Upon acceptance of the Trust, each successor Trustee shall
be vested with the title to the Trust assets possessed by the Trustee which it
succeeds less any amounts to which the predecessor Trustee may be entitled under
Section 11 and shall have all the powers, discretions, and duties of such
predecessor Trustee; provided, however, the predecessor Trustee may reserve such
reasonable amount as it shall deem necessary to provide for expenses and
compensation to which it may be entitled under Section 11 and any taxes or other
sums chargeable against the Trust for which it may be liable, and in the event
that the amount so reserved is insufficient for such purposes, the Trustee shall
be entitled to reimbursement from the Corporation or, in the absence thereof,
the successor Trustee. No successor Trustee shall be required to furnish bond.

                  (d) Each successor Trustee may accept as complete and correct
and may rely upon any accounting by any predecessor Trustee and upon any
statement or representation by any predecessor Trustee as to the assets
comprising or any other matter pertaining to the administration of the Trust. No
successor Trustee shall be liable for any act or omission of any predecessor
Trustee or have any duty to enforce or seek to enforce any claim of any kind
against any predecessor Trustee on account of any such act or omission.

SECTION 13.       AMENDMENT AND TERMINATION.

                                      -16-
<PAGE>   19
                  (a) This Agreement shall not be subject to amendment by the
Corporation or any other organization or individual in any respect, except as
provided in this Section 13(a). At any time and from time to time the
Corporation may amend this Agreement in any respect, but only by delivery to the
Trustee of an instrument authorized by the Committee which is signed by two
officers of the Corporation; provided, however, that no such amendment delivered
to the Trustee on or after a Change of Control shall be effective unless the
Corporation shall obtain the written consent to such amendment of any
Participant or Beneficiary affected by such amendment and provide the Trustee
with such evidence of such consent as the Trustee shall reasonably require. Any
amendment shall be effective only upon the Trustee's written acceptance of such
amendment, which acceptance shall not be unreasonably withheld unless such
amendment would affect the powers, duties, liabilities, or compensation of the
Trustee. For purposes of this Section 13(a), any amendment to this Agreement may
be made with respect only to the separate account of an individual Participant
or Beneficiary, in which case such amendment shall be deemed not to affect any
other Participant or Beneficiary.

                  (b) After full satisfaction of the benefits under the Plan of
a Participant or Beneficiary as determined under Section 7(c) of this Agreement,
any remaining Trust assets attributable to the Participant's or Beneficiary's
separate account shall be returned to the Corporation or redistributed to other
separate accounts under the Trust at the Corporation's option and upon a written
direction by the Committee to the Trustee to such effect.

                  (c) The Trust shall terminate on the earlier of the date on
which prior to a Change of Control the Trustee receives an instrument revoking
the Trust that is authorized by the Committee and is signed by two officers of
the Corporation or the first date on which all Participants and Beneficiaries
are no longer entitled to benefits under the Plan.

                  (d) Upon termination of the Trust as provided in Section 13(c)
of this Agreement, any assets remaining in the Trust shall be returned to the
Corporation.

SECTION 14.       AMENDMENTS TO PLAN.

                  (a) The Corporation may amend or terminate the Plan as
provided therein and shall promptly furnish the Trustee with copies of any
modification, amendment, restatement, or change of the Plan.

                                      -17-
<PAGE>   20
                  (b) Notwithstanding the foregoing provisions of Section 14(a)
of this Agreement, any modification, amendment, restatement, termination or
change of the Plan that would increase the responsibilities or liabilities of
the Trustee under this Agreement or change its duties under this Agreement shall
not be binding upon the Trustee without the written consent of the Trustee, and
if the Trustee shall decline to so consent it shall forthwith resign as Trustee
as provided in Section 12 of this Agreement.

SECTION 15.       GENERAL PROVISIONS.

                  (a) Any provision of this Agreement prohibited by law shall be
ineffective to the extent of any such prohibition without invalidating the
remaining provisions hereof.

                  (b) No right or interest of any Participant or Beneficiary
under this Agreement may (either at law or in equity) be anticipated, assigned,
alienated, encumbered, pledged or subject to attachment, garnishment, levy,
execution or other legal or equitable process, and any attempted anticipation,
assignment, alienation, encumbrance, pledge, attachment, garnishment, levy,
execution, or subjection to process shall be void ab initio. Except to the
extent amounts have been paid in excess of that due in accordance with the Plan,
no amount paid to a Participant or Beneficiary by Trustee shall be subject to
any claim for repayment by the Corporation or Trustee.

                  (c) Nothing in this Agreement shall in any way diminish the
rights of a Participant or Beneficiary to pursue his rights as a general
creditor of the Corporation with respect to the benefits under the Plan or
otherwise, and the rights or obligations of a Participant or Beneficiary and the
Corporation under the Plan shall in no way be affected or diminished by any
provision of this Agreement or action taken pursuant to this Agreement except
that any payment actually received by a Participant or Beneficiary hereunder
shall reduce amounts otherwise due to the Participant or Beneficiary pursuant to
the Plan as provided in this Agreement.

                  (d) If at any relevant time the Committee shall not exist or
be acting, then any action contemplated herein to be taken by the Committee
shall be taken by the Board.

                  (e) Except as may otherwise be provided hereunder or agreed to
in writing between the Corporation and the Trustee, the Corporation shall have
responsibility for the preparation and delivery to persons and governmental
agencies of all information, descriptions, reports and returns required by law;
the Trustee shall, however, provide such reasonable assistance to the
Corporation as is necessary or appropriate for the Corporation to perform such
obligations. Notwithstanding the

                                      -18-
<PAGE>   21
foregoing provisions of this Section 15(e), however, the Trustee shall have
responsibility for filing any returns or reports imposed upon the Trustee as
trustee of the Trust with respect to the Trust under the Code, and the
Corporation shall provide such reasonable assistance to the Trustee as is
necessary or appropriate for the Trustee to file such returns or reports. The
Trustee shall be entitled, as it may deem appropriate, to require the
Corporation or any person having any interest under the Plan or in, to, or under
the Trust, to provide such certifications and proofs of facts as shall permit
the Trustee to perform its duties under applicable law and regulations adopted
thereunder as may be in effect from time to time, or to exercise the powers
granted the Trustee under the Trust.

                  (f) The creation or maintenance of the Trust shall not entitle
any person to continued employment with the Corporation or any of its
subsidiaries or affiliates or otherwise affect any such employment relationship,
nor shall it entitle any person to continued status as a director of the
Corporation or any of its subsidiaries or affiliates.

                  (g) Each Participant or Beneficiary is an intended beneficiary
under this Trust, and, as an intended beneficiary, shall be entitled to enforce
the terms and provisions of this Agreement applicable to the Participant or
Beneficiary.

                  (h) This Agreement may be executed in two or more
counterparts, each of which shall be considered an original agreement.

                  (i) All notices, requests, consents, and other communications
required hereunder shall be in writing and shall be effective when received:

         If to the Corporation at:   Brush Wellman Inc.
                             17876 St. Clair Avenue
                           Cleveland, Ohio 44110-2697
                              Attention: Secretary

         If to the Trustee at:              Fifth Third Bank
                             1404 East Ninth Street
                           Cleveland, Ohio 44114-1722
                         Attention: [__________________]

         If to a Participant at:            The address set forth on Exhibit 3;

provided, however, that if any of the foregoing or its or his successors shall
have designated a different address by written notice, then at the last address
so designated.

                                      -19-
<PAGE>   22
                  (j) This Agreement shall be governed by and construed in
accordance with the laws of the State of Ohio.

                  IN WITNESS WHEREOF, the Corporation has caused this Agreement
to be executed as of the date first above written, and the Trustee has caused
this Agreement to be executed on ________________, 1999.

                                            BRUSH WELLMAN INC.

                                            By__________________________________
                                                 Title:

                                            FIFTH THIRD BANK

                                            By__________________________________
                                                Title:

                                            And_________________________________
                                                Title:

                                      -20-
<PAGE>   23
                                    EXHIBIT 3

                  Cash in the following amounts has been transferred and
delivered to the Trustee to be held and administered in accordance with the
foregoing Trust Agreement:

For the Separate Account of                Amount             Specified Period
(name and address of Participant):         ------             ----------------
----------------------------------
<PAGE>   24
                                 EXHIBIT 5(b)(1)

                      CERTIFICATE UNDER SECTION 5(B)(1) OF
                     TRUST AGREEMENT FOR BRUSH WELLMAN INC.
                      EXECUTIVE DEFERRED COMPENSATION PLAN

                  The undersigned hereby certifies to _____________________,
Trustee (the "Trustee") under the Trust Agreement for Brush Wellman Inc.
Executive Deferred Compensation Plan dated ___________________, 1999 (the "Trust
Agreement"), that:

                  (1)  The undersigned is a Participant or a Beneficiary.

                  (2) A Change of Control as described in Section 4 of the Trust
         Agreement with respect to the undersigned has occurred.

                  (3) The undersigned, or the Participant through whom the
         Beneficiary claims, has complied with all terms of the Plan in order to
         receive a payment [or aggregate payments] of $__________________, which
         [are] currently due and owing but has not been delivered by the
         Corporation.

                  (4) The date(s) on which the delivery(s) referred to in (3)
         above was or were due are as follows:__________________________________

________________________________________________________________________________

________________________________________________________________________________

                  (5) The Trustee is hereby directed to pay the undersigned
         $_______________________ [and interest thereon] pursuant to Section
         5(b) of the Trust Agreement.

                           (6) The undersigned hereby acknowledges and agrees,
         on behalf of himself and his heirs, executors, administrators,
         successors and assigns, that any payment or transfer of Designated
         Property received by the undersigned from the Trustee pursuant to this
         Certificate, shall constitute a payment to the undersigned under the
         Plan and shall satisfy the Corporation's liability, if any, with
         respect thereto to the extent of such payment and that if and to the
         extent that a final, unappealable order of a court of competent
         jurisdiction shall hold that the undersigned was not entitled to such
         payment, the undersigned shall be liable therefor to the Corporation.

                  (7) Accompanying this Certificate is an affidavit certifying
         that this Certificate is true, correct and complete to the best of the
         undersigned's knowledge and binding upon the undersigned and the
         undersigned's heirs, executors, administrators, successors and assigns,
         and that copies of this Certificate have been delivered to Brush
         Wellman Inc.
<PAGE>   25
                  (8) All capitalized terms used in this Certificate that are
         not defined herein shall have the meanings given to those terms under
         the Trust Agreement.

                  IN WITNESS WHEREOF, the undersigned has executed and delivered
this Certificate this ______ day of _________________, _____.

                                            ___________________________________
<PAGE>   26
                                 EXHIBIT 5(b)(2)

                                    AFFIDAVIT

                  ____________________________________, being first duly sworn,
deposes and says:

         1. That the statements, representations, and acknowledgements made by
  the undersigned in the Certificate attached hereto are true, correct, and
  complete to the best of the undersigned's knowledge;

         2. That the statements, representations, acknowledgements, and
  agreements made by the undersigned in the Certificate attached hereto are
  binding upon the undersigned and the undersigned's heirs, executors,
  administrators, successors, and assigns; and

         3. That copies of the Certificate attached hereto have been delivered
  to Brush Wellman Inc., to the attention of its Board of Directors and its
  Chief Executive Officer.

                                            ____________________________________
                                                        (signature)

STATE OF ________________, COUNTY OF _______________, SS:

                  Before me, a Notary Public in and for said State and County,
personally appeared the above named ____________________________________________
who, in my presence, subscribed and swore to the foregoing instrument and
acknowledged that the same is his or her voluntary act and deed.

                  IN WITNESS WHEREOF, I have hereunto set my hand and seal at
_________________, __________________, this _______ day of ________________,
________.

                                            ____________________________________
                                                        Notary Public
<PAGE>   27
                                  EXHIBIT 5(c)

                   LETTER TO PARTICIPANT OR BENEFICIARY UNDER
                 SECTION 5(B) OR SECTION 5(C) OF TRUST AGREEMENT
             BRUSH WELLMAN INC. EXECUTIVE DEFERRED COMPENSATION PLAN

_______________________
_______________________
_______________________

Dear _____________________:

                  Enclosed is ______________, in payment to you under the Brush
Wellman Inc. Executive Deferred Compensation Plan. [This payment is net of
applicable tax withholding as follows:__________________________________.] By
[cashing the enclosed check] [accepting the enclosed ____________], you
acknowledge and agree that ___________ [pre-tax withholding amount] [shares of
_____] [has][have] been paid to you under the Brush Wellman Inc. Executive
Deferred Compensation Plan.

                                            [Trustee]

                                            By:_________________________________
                                                  Title:

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