EXECUTIVE SEVERANCE PLAN
(As Amended and Restated Effective December 31, 2007)
ARTICLE I — PURPOSE
The Board of Directors of PolyOne Corporation (the “Company”), acting through the Compensation and
Governance Committee, adopted the PolyOne Corporation Executive Severance Plan (the “Plan”) effective
May 25, 2006. The Plan is designed to provide severance protection to certain officers of the Company who are
expected to make substantial contributions to the success of the Company and thereby provide for stability and
continuity of operations.
ARTICLE II — ESTABLISHMENT OF THE PLAN
Section 2.1 Effective Date . The Plan was effective May 25, 2006 (the “Effective Date”). The Plan is
amended and restated effective December 31, 2007 to comply with the 409A Guidance.
Section 2.2 Applicability of Plan . The benefits provided by the Plan shall be available to Participants, as
defined in Section 3.14.
Section 2.3 Contractual Right to Benefits . Subject to the provisions of Article X hereof, the Plan establishes
and vests in each Participant a contractual right to the benefits to which the Participant is entitled hereunder,
enforceable by the Participant against the Company on the terms and subject to the conditions hereof.
ARTICLE III — DEFINITIONS
Section 3.1 “Affiliate” means, with respect to any person, any entity, directly or indirectly, controlled by,
controlling or under common control with such person.
Section 3.2 “Base Salary” of a Participant means the Participant’s annual base salary as in effect on the
Section 3.3 “Board” means the Board of Directors of the Company.
Section 3.4 “Cause” means the Participant’s commission of any of the following:
(a) Serious violation or deliberate disregard of the Company’s policies;
(b) Gross dereliction in the performance of Participant’s job duties and responsibilities;
(c) Violation of the Code of Business Conduct;