Amendment to Cabot Corporation 1999 Equity Incentive Plan (Section 409A Compliance)
Cabot Corporation has amended its 1999 Equity Incentive Plan to ensure that the plan and any awards under it comply with Section 409A of the Internal Revenue Code. This amendment, authorized by the Board of Directors and executed by a company officer, requires the plan to be operated and interpreted in line with Section 409A and related guidance. The amendment aims to ensure that all awards subject to Section 409A are structured and administered to meet its requirements.
EXHIBIT 10.1
CABOT CORPORATION
1999 EQUITY INCENTIVE PLAN
Amendment
Pursuant to the terms of the Cabot Corporation 1999 Equity Incentive Plan (the “Plan”), Cabot Corporation, as authorized by its Board of Directors on January 14, 2005, hereby amends the Plan to add a new Section 8.10 to the Plan, which reads as follows:
“Section 8.10. Operation of Plan in accordance with Section 409A of the Internal Revenue Code.
The Plan will be operated in a manner consistent with a good-faith, reasonable interpretation of Section 409A of the Code and applicable guidance thereunder, as determined by the Committee in its discretion. Each Award subject to Section 409A of the Code will be structured accordingly, and any action taken with respect to any such Award will be construed and administered consistent with the intent that such Award comply with the requirements of Section 409A.”
IN WITNESS WHEREOF, Cabot Corporation has caused this instrument of amendment to be executed as of January 14, 2005 by a duly authorized officer.
| CABOT CORPORATION | ||
| By: /s/ Robby D. Sisco | ||
| Name: Robby D. Sisco Title: Vice President |
