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Title: |
Elective Deferral Plan for Non-Employee Directors |
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Date: |
2002 |
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$36 |
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ID: |
#913735 |
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Lyondell Chemical Company
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ELECTIVE DEFERRAL PLAN FOR NON-EMPLOYEE DIRECTORS
As Amended and Restated Effective January 1, 2002
<PAGE>
TABLE OF CONTENTS
<TABLE>
<S> <C>
ARTICLE I GENERAL PROVISIONS............................................................................. 1
Section 1.1. Purpose and Intent of Plan..................................................................... 1
Section 1.2. Effective Date of Plan......................................................................... 1
Section 1.3. Definitions.................................................................................... 1
ARTICLE II PARTICIPATION AND DEFERRAL ELECTIONS........................................................... 6
Section 2.1. Participation.................................................................................. 6
Section 2.3. Deferral Elections............................................................................. 6
Section 2.4. Limitation on Deferral......................................................................... 6
Section 2.5. Termination of Service......................................................................... 6
Section 2.6. Modification of Deferral Elections............................................................. 6
ARTICLE III DEFERRED COMPENSATION ELECTIONS................................................................ 7
Section 3.1. Accounts....................................................................................... 7
Section 3.2. Deferred Compe................................................................................. 7
Section 3.3. Interest Rate.................................................................................. 7
Section 3.4. Determination of Accounts...................................................................... 7
Section 3.5. Vesting of Accounts............................................................................ 8
Section 3.6. Statement of Accounts.......................................................................... 8
ARTICLE IV PLAN BENEFITS.................................................................................. 8
Section 4.1. Plan Benefit................................................................................... 8
Section 4.2. Distribution upon Termination of Service....................................................... 8
Section 4.3. Survivor Benefits.............................................................................. 9
Section 4.4. In-Service Distributions....................................................................... 10
Section 4.5. Unscheduled Distributions...................................................................... 10
Section 4.6. Valuation and Settlement....................................................................... 11
Section 4.7. Small Benefit.................................................................................. 11
Section 4.8. Change in Control.............................................................................. 11
Section 4.9. Combined Gross-up Payment; Tax Defense......................................................... 11
ARTICLE V DESIGNATION OF BENEFICIARY..................................................................... 12
Section 5.1. Designation of Beneficiary..................................................................... 12
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