Amendment to the
Cabot Corporation Deferred Compensation and Supplemental Retirement Plan
WHEREAS, Cabot Corporation (the “Corporation”) heretofore established the Cabot Corporation Supplemental 401(k) Plan (the “Supplemental 401(k) Plan”), which is now Part III of the Cabot Corporation Deferred Compensation and Supplemental Retirement Plan, as amended and restated effective January 1, 2014 and as further amended from time to time (the “Plan”); and
WHEREAS, Section 4.1of the Plan reserves to the Board of Directors (the “Board”) of the Corporation the right to amend the Plan, and authorizes the Benefits Committee to adopt non-material amendments to the Plan on behalf of the Board; and
WHEREAS, the Board voted, effective January 9, 2020, to combine the Benefits Committee and a separate investment committee into a new, successor committee entitled the Cabot Corporation Investment Committee (the “Investment Committee”); and
WHEREAS, the Investment Committee wishes to adopt the following non-material amendments to Part I and Part III of the Plan to facilitate efficient administration of the Plan;
NOW THEREFORE, the Plan is hereby amended as follows:
“1.8. ‘Committee’ means the Cabot Corporation Investment Committee, whose members are appointed by the Compensation Committee and serve at the Compensation Committee’s pleasure.”
“(b) This Section 12.1(b) is satisfied if, for such year (or for such portion of the year during which he or she satisfies the requirements of (a) above) such individual has elected to participate in pre-tax deferrals and/or after-tax contributions under the 401(k) Plan to the maximum extent permissible thereunder (taking into account any limitations imposed under the 401(k) Plan to comply with the qualification requirements of the Code, including, without limitation, the annual compensation limit under Section 401(a)(17) of the Code) and accordingly has received the maximum possible Matching Contribution under Section 6.5 of the 401(k) Plan.”
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