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Exhibit 10.1

FIRST AMENDMENT TO CREDIT AGREEMENT

        This FIRST AMENDMENT TO CREDIT AGREEMENT (this "Amendment"), dated as of
June 17, 2005, is entered into by and among Huntsman Advanced Materials LLC, a
Delaware limited liability company (the "Borrower"), the undersigned financial
institutions, including Deutsche Bank AG New York Branch, in their capacities as
lenders hereunder (collectively, the "Lenders," and each individually, a
"Lender"), Deutsche Bank AG New York Branch, as Administrative Agent
("Administrative Agent") for the Lenders, Deutsche Bank Securities Inc., as Lead
Arranger and UBS Securities LLC, as Syndication Agent (collectively, the
"Agents" and each individually, an "Agent"). Terms used herein and not otherwise
defined herein shall have the same meanings as specified in the Credit Agreement
(as defined below).

RECITALS:

        A.    The Borrower, the Lenders, the Agents and the Administrative Agent
have heretofore entered into that certain Credit Agreement dated as of June 30,
2003 (as amended, restated, supplemented or otherwise modified from time to
time, the "Credit Agreement").

        B.    The Borrower has requested that the Credit Agreement be amended so
as to provide for a new class of Revolving Loans and Revolving Commitments to be
referred to as the New Revolving Loans and the New Revolving Commitments (each
as hereinafter defined) having substantially identical terms with and in the
same aggregate principal amount as the outstanding Revolving Loans and Revolving
Commitments (each as defined in the Credit Agreement prior to giving effect to
this Amendment) (the "Existing Revolving Loans" and the "Existing Revolving
Commitments", respectively), except as such terms are amended hereby.

        C.    As of the Repricing Effective Time (as hereinafter defined), the
outstanding Existing Revolving Loans will be converted into, or, in the case of
Exiting Revolving Lenders (as hereinafter defined), repaid in full with the
proceeds of, the New Revolving Loans and the Existing Revolving Commitments will
be replaced by the New Revolving Commitments.

        D.    Each Lender having a New Revolving Commitment (as hereinafter
defined) in excess of its Existing Revolving Commitment as of the Repricing
Effective Time (each such Lender an "Increasing Revolving Lender") shall make
New Revolving Loans in the amount of the excess of such Lender's Revolver Pro
Rata Share (after giving effect to this Amendment) of Existing Revolving Loans
over such Increasing Revolving Lender's outstanding principal amount of Existing
Revolving Loans the proceeds of which shall be used by the Borrower to repay the
outstanding principal amount of Existing Revolving Loans of existing Lenders
that are not signatories to this Amendment (each such Lender, an "Exiting
Revolving Lender").

        E.    Each Lender having Existing Revolving Loans outstanding as of the
Repricing Effective Time who is signatory to this Amendment (each such Lender a
"Continuing Revolving Lender") shall be deemed, as of the Repricing Effective
Time in accordance with the provisions hereof, to have converted its Existing
Revolving Loans into New Revolving Loans in the same aggregate principal amount
and to have converted such Lender's Revolving Commitment to a New Revolving
Commitment in the same aggregate principal amount (plus in the case of any
Increasing Revolving Lender, the amount necessary to bring such Lender's total
New Revolving Commitment to the amount set forth opposite to such Lender's name
on Schedule 1.1(a) attached hereto under the caption "Amount of New Revolving
Commitment") and the Existing Revolving Commitments of the Exiting Revolving
Lenders shall be terminated.

        F.     Borrower shall pay to each Lender having Existing Revolving Loans
outstanding as of the Repricing Effective Time all accrued and unpaid interest
and Commitment Fees on such Existing Revolving Loans as of the Repricing
Effective Time.

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        G.    The Borrower has further requested that immediately following the
effectiveness of the repricing amendments set forth in Section 1 hereof, each
Lender with New Revolving Loans and each other Lender signatory hereto further
amend the Credit Agreement to reflect certain other changes thereto as more
fully described in Section 2 hereof.

        H.    The Administrative Agent, the Lenders and the Agents signatory
hereto, together with the Borrower, are willing to amend the Credit Agreement
subject to the terms and conditions of this Amendment.

        I.     This Agreement constitutes a Loan Document and these Recitals
shall be construed as part of this Amendment.

        NOW, THEREFORE, in consideration of the recitals herein contained and
for other good and valuable consideration, the receipt and sufficiency of which
is hereby acknowledged, the parties hereto agree as follows:

        SECTION 1. Repricing Amendments and Extension of Revolver Termination
Date.

        Subject to the conditions set forth in Section 3 hereof, the Credit
Agreement is hereby amended as of the Repricing Effective Time (as defined in
Section 3.1 hereof) as follows:

        (a)   Section 1.1 of the Credit Agreement is amended by inserting the
following new definitions in alphabetical order therein:

        "Additional Amendments Effective Time" has the meaning set forth in the
First Amendment.

        "Continuing Revolving Lender" is defined in the Recitals to the First
Amendment.

        "Converted Revolving Loans" is defined in Section 2.1(a).

        "Existing Revolving Commitments" has the meaning set forth in the
definition of "Revolving Commitments".

        "Existing Revolving Loans" is defined in the Recitals to the First
Amendment.

        "Exiting Revolving Lender" is defined in the Recitals to the First
Amendment.

        "First Amendment" means the First Amendment to Credit Agreement dated as
of June 17, 2005 by and among the Borrower, the Lenders signatory thereto and
the Administrative Agent.

        "Increasing Revolving Lender" is defined in the Recitals to the First
Amendment.

        "New Revolving Commitments" has the meaning set forth in the definition
of "Revolving Commitments".

        "New Revolving Loans" is defined in Section 2.1(a).

        "Repricing Effective Time" has the meaning set forth in the First
Amendment.

        "Revolving Loan Conversion" is defined in Section 2.1(a).

        (b)   Section 1.1 of the Credit Agreement is further amended by deleting
the table in the definition of "Applicable Base Rate Margin" and replacing it
with the following new table:

Most Recent Leverage Ratio

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  Applicable Base Rate Margin

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  Less than or equal to 1.0 to 1   0.25 % Greater than 1.0 to 1   0.50 %

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        (c)   Section 1.1 of the Credit Agreement is further amended by amending
and restating the definition of "Applicable Commitment Fee Percentage" to read
as follows:

        "Applicable Commitment Fee Percentage" means 0.375% per annum.

        (d)   Section 1.1 of the Credit Agreement is further amended by deleting
the table in the definition of "Applicable Eurocurrency Margin" therein in its
entirety and replacing it with the following new table:

Most Recent Leverage Ratio

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  Applicable Eurocurrency Margin

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  Less than or equal to 1.0 to 1   1.25 % Greater than 1.0 to 1   1.50 %

        (e)   Section 1.1 of the Credit Agreement is further amended by amending
and restating the definition of "Lenders" to read as follows:

        "Lender" and "Lenders" have the respective meanings assigned to those
terms in the introduction to this Agreement and shall include any Person that
becomes a "Lender" pursuant to Section 12.8 and any Person that becomes a Lender
by virtue of having a New Revolving Commitment under the First Amendment.

        (f)    Section 1.1 of the Credit Agreement is further amended by
deleting the date "June 30, 2007" contained in the definition of "Revolver
Termination Date" therein and inserting in lieu thereof the date "July 15,
2007".

        (g)   Section 1.1 of the Credit Agreement is further amended by amending
and restating the definition of "Revolving Commitment" to read as follows:

        "Revolving Commitment" means, with respect to any Revolving Lender,
(i) prior to the Repricing Effective Time, the obligation of such Revolving
Lender to make Revolving Loans and to participate in Letters of Credit, as such
commitment may be adjusted from time to time pursuant to this Agreement, which
commitment as of the date hereof is the amount set forth opposite such lender's
name on Schedule 1.1(a) hereto under the caption "Amount of Revolving
Commitment" as the same may be adjusted from time to time pursuant to the terms
hereof and "Existing Revolving Commitments" means such commitments collectively,
which commitments equal $60,000,000 in the aggregate as of the date hereof and
(ii) on and after the Repricing Effective Time, the obligation of such Revolving
Lender to make Revolving Loans and to participate in Letters of Credit, as such
commitment may be adjusted from time to time pursuant to this Agreement, which
commitment as of the Repricing Effective Time is the amount set forth opposite
such lender's name on Schedule 1.1(a) to the First Amendment under the caption
"Amount of New Revolving Commitment" as the same may be adjusted from time to
time pursuant to the terms hereof and "New Revolving Commitments" or "Revolving
Commitments" means such commitments collectively, which commitments equal
$60,000,000 in the aggregate as of the Repricing Effective Time.

        (h)   Section 1.1 of the Credit Agreement is further amended by amending
and restating the definition of "Revolving Facility" to read as follows:

        "Revolving Facility" means the credit facility under this Agreement
evidenced by the New Revolving Commitments and the Revolving Loans (including,
for purposes of clarification, the Converted Revolving Loans).

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        (i)    Section 2.1(a) of the Credit Agreement is hereby deleted in its
entirety and replaced with the following:

        (a)   Revolving Loans. Subject to the terms and conditions hereof and
Section 3 of the First Amendment, (A) each Continuing Revolving Lender agrees to
convert (each such conversion a "Revolving Loan Conversion") its Existing
Revolving Loans into new revolving loans under this Agreement in an amount equal
to the outstanding principal amount of such Lender's Existing Revolving Loans
and in the same currency as such Existing Revolving Loans (in each case, the
"Converted Revolving Loans") immediately prior to the Repricing Effective Time;
and (B) each Increasing Revolving Lender agrees to convert its Existing
Revolving Loans pursuant to the Revolving Loan Conversion and also agrees to
make a new loan in the applicable currency(s) (each such loan, together with all
Converted Revolving Loans, the "New Revolving Loans") to the Borrower as of the
Repricing Effective Time in the aggregate principal amount equal to the excess
of such Lender's Revolver Pro Rata Share (after giving effect to the First
Amendment) of all Existing Revolving Loans over such Lender's Converted
Revolving Loans. The Borrower, Administrative Agent and Lenders party hereto
further acknowledge and agree that on the First Amendment Effective Date, after
giving effect to the conversion and/or issuance of Revolving Loans, the
aggregate principal amount of Revolving Loans outstanding is equal to $0. Each
Revolving Lender that is not an Exiting Revolving Lender, severally and for
itself alone, hereby agrees, on the terms and subject to the conditions
hereinafter set forth and in reliance upon the representations and warranties
set forth herein and in the other Loan Documents, to make loans to the Company
and the Subsidiary Borrowers, denominated in Dollars or an Alternative Currency
on a revolving basis from time to time during the Commitment Period, in an
amount not to exceed its Revolver Pro Rata Share of, with respect to all
Borrowers, the Total Available Revolving Commitment and with respect to any
applicable Borrower, such Borrower's Available Revolving Sublimit (each such
loan by any Lender, a "Revolving Loan" and collectively, together with the New
Revolving Loans, the "Revolving Loans"). All Revolving Loans comprising the same
Borrowing hereunder shall be made by the Revolving Lenders simultaneously and in
proportion to their respective Revolving Commitments. Prior to the Revolver
Termination Date, Revolving Loans may be repaid and reborrowed by the Company
and the Subsidiary Borrowers in accordance with the provisions hereof and,
except as otherwise specifically provided in Section 3.6, all Revolving Loans
comprising the same Borrowing shall at all times be of the same Type."

        (j)    Section 4.2 of the Credit Agreement is amended by adding the
following new clause (f) immediately at the end thereof:

        (f)    Termination of Existing Revolving Commitments. The Existing
Revolving Commitments shall terminate on the expiration of the Repricing
Effective Time after giving effect to the Borrowing (or conversion, as the case
may be) of the New Revolving Loans on such date.

        (k)   Section 6.8(a) of the Credit Agreement is hereby amended by adding
the following new sentence immediately at the end thereof:

        The Existing Revolving Loans of all Exiting Revolving Lenders shall be
paid in full with the gross proceeds of any New Revolving Loans issued by
Increasing Revolving Lenders as of the Repricing Effective Time.

        SECTION 2. Consent to Release of Certain Pledged Securities and Related
Amendments to Loan Documents; Other Amendments to Credit Agreement.

        2.1   Consent to Release of Certain Pledged Securities and Related
Amendments to Loan Documents.

        (a)   Subject to the conditions set forth in Section 3 of this
Amendment, as of the Additional Amendments Effective Time, the Required Lenders
hereby consent to the execution by the Administrative Agent and Collateral Agent
of amendments and/or terminations in form and substance

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satisfactory to the Administrative Agent and Collateral Agent of any Loan
Document necessary to effect the release from such Loan Documents of the pledge
of the Capital Stock of all Subsidiaries of Borrower.

        (b)   Section 1.1 of the Credit Agreement is further amended by amending
and restating the definition of "Collateral" to read as follows:

        "Collateral" means all "Collateral" as defined in each of the Security
Documents; provided, that at no time, and notwithstanding any provision to the
contrary in any Security Document, shall the term "Collateral" include any
Capital Stock of any Subsidiary of the Company.

        (c)   Section 1.1 of the Credit Agreement is hereby further amended by
deleting the definition "Foreign Pledge Subsidiary" contained therein.

        (d)   Section 6.15(b) of the Credit Agreement is hereby amended by
deleting the phrase "and each Foreign Pledge Subsidiary of the Company whose
Capital Stock has been pledged in effect on the date of this Agreement" and by
deleting the comma between the phrases "each Domestic Subsidiary of the Company"
and "each other Credit Party" and inserting in lieu thereof the word "and"
between such phrases.

        (e)   Section 7.11(b) of the Credit Agreement is amended by amending and
restating such Section to read as follows:

        (b)   Pledge of Subsidiary Stock. Notwithstanding anything to the
contrary in Section 7.11(a) or elsewhere in any Loan Document, the Company shall
not be required to, and shall not be required to cause its Subsidiaries to,
pledge any of the Capital Stock of any Subsidiary to the Collateral Agent for
the benefit of the Secured Creditors.

        (f)    Section 7.11(c) of the Credit Agreement is hereby amended by
(A) renumbering clauses "(i)" and "(ii)" that appear within the initial
clause (i) of Section 7.11(c) as clauses "(A)" and "(B)" respectively,
(B) adding the following phrase to the end of the initial clause (i) of
Section 7.11(c): ";provided, however, that Additional Collateral shall not
include any Capital Stock of any Domestic Subsidiary of the Company" and
(C) after giving effect to the renumbering of the clauses as described in
(A) above, adding the following phrase to the end of clause (ii) of such
Section 7.11(c): ";provided, however, that Additional Foreign Collateral shall
not include any Capital Stock of any Foreign Subsidiary of the Company."

        (g)   Section 12.17(b) of the Credit Agreement is hereby amended by
adding a new clause (iii)  at the conclusion thereof to read as follows:

        (iii)  As of the Additional Amendments Effective Time (as defined in the
First Amendment), the Lenders hereby release any and all security interests held
in or pledges made for their benefit with respect to any Capital Stock of any
Subsidiary of the Company.

        2.2   Other Amendments to Credit Agreement. Subject to the conditions
set forth in Section 3 of this Amendment, as of the Additional Amendments
Effective Time, the Required Lenders agree to further amend the Credit Agreement
as follows:

        (a)   Section 1.1 of the Credit Agreement is hereby further amended by
amending and restating the definition of "Consolidated EBITDA" contained therein
to read as follows:

        "Consolidated EBITDA" means, for any applicable period, the Consolidated
Net Income or Consolidated Net Loss of the Company and its Subsidiaries for such
period, plus, to the extent deducted in determining the foregoing
(i) Consolidated Interest Expense for such period, (ii) the provision for taxes
based on income and foreign withholding taxes for such period (including,
without limitation, cash distributions made pursuant to the Tax Sharing
Agreement to the extent permitted by Section 8.4), (iii)  depreciation and
amortization expense, (iv) call premiums and call

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protection payments paid in connection with prepayments of Indebtedness and
write-offs of deferred financing costs due to early extinguishment of
Indebtedness (in each case, to the extent such prepayment or extinguishment, as
applicable, is permitted by the terms of this Agreement) and (v) non-cash
charges to the extent deducted in determining Consolidated Net Income for such
period; provided, however, Consolidated EBITDA shall be decreased by the amount
of any cash expenditures in such period related to non-cash charges added back
to Consolidated EBITDA during any prior periods.

        (b)   Section 6.15(a) of the Credit Agreement is hereby amended by
deleting the phrase "created in accordance with Section 8.15" contained therein
and inserting in lieu thereof the phrase "permitted to be created pursuant to
this Agreement".

        (c)   Section 8.1(f) of the Credit Agreement is hereby amended by
deleting the phrase "of Foreign Subsidiaries" contained therein.

        (d)   Section 8.2(k) of the Credit Agreement is hereby amended by
amending and restating such Section 8.2(k) to read as follows:

        (k)   (i) Indebtedness of Foreign Subsidiaries and guarantees thereof by
a Borrower and/or its Subsidiaries consisting of letters of credit, bank
guarantees and Guarantee Obligations in an aggregate amount not to exceed the
Dollar Equivalent of $10,000,000 at any time outstanding and (ii) other
Indebtedness of Foreign Subsidiaries such that the aggregate amount of such
Indebtedness under this clause (ii) outstanding at any one time does not exceed
the Dollar Equivalent of $10,000,000.

        (e)   Section 8.7 of the Credit Agreement is hereby amended by adding a
new clause (h) at the conclusion thereof to read as follows:

        (h)   to the extent permitted by the Second Priority Notes Indenture,
the Company may make intercompany loans to one or more of its direct or indirect
parent entities (each, a "Parent"), the proceeds of which shall be utilized by
such Parent to pay legal, franchise tax, audit and other expenses directly
relating to the administration or legal existence of such Parent; provided, that
the aggregate outstanding principal amount of all such intercompany loans shall
not exceed $3,000,000 at any time (without giving effect to any write-downs or
write-offs thereof).

        (f)    Section 8.13 of the Credit Agreement is hereby amended by
inserting the phrase ", except as permitted pursuant to Section 8.4(y),"
immediately prior to the phrase "any Second Priority Notes" in such Section.

        SECTION 3. Conditions to Effectiveness of the Amendment. The provisions
of this Amendment (other than those contained in Section 2) shall become
effective upon the date of the satisfaction of all of the conditions set forth
in this Section 3 (the "Repricing Effective Time") and the provisions of
Section 2of this Amendment shall become effective immediately after the
occurrence of the Repricing Effective Time (the "Additional Amendments Effective
Time"):

        3.1   Proper Execution and Delivery of Amendment. Borrower, the
Administrative Agent, the Required Lenders and each Lender, or in lieu of one or
more Lenders, one or more Increasing Revolving Lenders providing New Revolving
Commitments in an amount sufficient to replace the Revolving Commitments of any
Exiting Revolving Lenders shall have duly executed and delivered to
Administrative Agent this Amendment.

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        3.2   Delivery of Credit Party Documents. On or before the date hereof,
Borrower shall deliver or cause to be delivered to Administrative Agent the
following, each, unless otherwise noted, dated the First Amendment Effective
Date:

        (a)   Certified copies of the Certificate of Formation of the Borrower,
together with a good standing certificate from the Secretary of State of the
jurisdiction of its incorporation and each other state in which it is qualified
as a foreign corporation to do business and where failure to be so qualified
would have a Material Adverse Effect and, to the extent generally available, a
certificate or other evidence of good standing as to payment of any applicable
franchise or similar taxes from the appropriate taxing authority of each of such
states, each dated a recent date prior to the date on which each of the
Repricing Effective Time and Additional Amendments Effective Time have occurred
(the "First Amendment Effective Date") or, in the event that any such document
has been previously delivered by the Borrower to the Administrative Agent, a
certificate executed by a Responsible Officer of the Borrower indicating that no
change has occurred with respect to such document;

        (b)   Copies of the operating agreement or limited liability company
agreement of the Borrower, certified by its corporate secretary or an assistant
secretary or a certificate of the lack of any change thereto since the Initial
Borrowing Date or, in the event that any such document has been previously
delivered by the Borrower to the Administrative Agent, a certificate executed by
a Responsible Officer of the Borrower indicating that no change has occurred
with respect to such document;

        (c)   Resolutions of the members, manager or board of managers of the
Borrower (i) approving and authorizing the execution, delivery and performance
of this Amendment, and (ii) approving and authorizing the execution, delivery
and performance of the other Loan Documents to which it is a party and all
transactions related thereto, in each case certified as of the First Amendment
Effective Date by its corporate secretary or an assistant secretary as being in
full force and effect without modification or amendments;

        (d)   Signature and incumbency certificates of the officers of the
Borrower executing this Amendment;

        (e)   a reaffirmation of each Security Document and each Guarantee
Agreement to which any Credit Party is a party;

        (f)    an opinion of Vinson & Elkins LLP, special counsel to the Credit
Parties, addressed to Administrative Agent and each of the Lenders and dated the
First Amendment Effective Date, which shall be in form and substance reasonably
satisfactory to the Administrative Agent and shall cover such matters incident
to the transactions contemplated herein and in the other Loan Documents as the
Administrative Agent may reasonably request;

        (g)   evidence, satisfactory to the Administrative Agent, that the
Borrower has used the proceeds of the New Revolving Loans to refinance the
Existing Revolving Loans; and

        (h)   Such other instruments and documents in respect of such matters as
Administrative Agent shall reasonably request.

        3.3   Representations and Warranties; Default; Officer's Certificate.
After giving effect to this Amendment, the representations and warranties set
forth in Article VI of the Credit Agreement shall be true and correct, except to
the extent such representations and warranties are expressly made as of a
specified date in which event such representations and warranties shall be true
and correct as of such specified date, and no Event of Default or Unmatured
Event of Default shall have occurred or be continuing and Administrative Agent
shall have received a certificate executed by a Responsible Officer on behalf of
Borrower, dated the First Amendment Effective Date stating that, after giving
effect to

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this Amendment, the representations and warranties set forth in Article VI of
the Credit Agreement are true and correct as of the date of the certificate,
except to the extent such representations and warranties are expressly made as
of a specified date in which event such representations and warranties shall be
true and correct as of such specified date, that no Event of Default or
Unmatured Event of Default has occurred and is continuing, and that the
conditions of this Section 3 hereof have been fully satisfied or waived.

        3.4   Fees. Borrower shall have paid to Administrative Agent all costs,
fees and expenses (including, without limitation, reasonable legal fees and
expenses) payable to Administrative Agent to the extent then due, including,
without limitation, pursuant to Section 6 of this Amendment and any fee letter
executed by the Borrower in favor of the Administrative Agent in connection with
this Amendment.

        3.5   Corporate Proceedings. All corporate and legal proceedings and all
instruments and agreements in connection with the execution and delivery of this
Amendment shall be satisfactory in form and substance to Administrative Agent
and Administrative Agent and all Lenders shall have received all information and
copies of all documents and papers, including records of corporate proceedings,
governmental approvals, good standing certificates and bring-down telegrams or
certificates, if any, which Administrative Agent or such Lender reasonably may
have requested in connection therewith, such documents and papers where
appropriate to be certified by proper corporate or Governmental Authorities.

        Each Lender and the Administrative Agent hereby agrees that by its
execution and delivery of its signature page hereto, such Person approves of and
consents to each of the matters set forth herein which must be approved by, or
which must be satisfactory to, the Required Lenders or such Person, as the case
may be; provided that, in the case of any agreement or document which must be
approved by, or which must be satisfactory to, the Required Lenders,
Administrative Agent or Borrower shall have delivered a copy of such agreement
or document to such Person if so requested on or prior to the First Amendment
Effective Date.

        3.6   Payment of Unpaid Interest and Commitment Fees. The Borrower shall
have paid to all Lenders with Existing Revolving Loans simultaneously with the
making (or conversion into) of New Revolving Loans hereunder, all accrued and
unpaid interest on such Lenders' Existing Revolving Loans outstanding on the
First Amendment Effective Date. In addition, notwithstanding anything else in
the Credit Agreement to the contrary, at the end of any Interest Period which
existed as of the First Amendment Effective Date, the Borrower will pay to
Lenders holding Revolving Loans the balance of the interest due and accruing for
such Interest Period on such New Revolving Loans from the period of the First
Amendment Effective Date through the end of such Interest Period. The Borrower
shall have paid to all Lenders with Existing Revolving Commitments on the
Repricing Effective Time all accrued and unpaid Commitment Fees outstanding on
the First Amendment Effective Date.

        SECTION 4. Representations and Warranties. To induce the other parties
hereto to enter into this Amendment, the Borrower represents and warrants to
each of the Lenders and the Administrative Agent that, as of the First Amendment
Effective Date:

        (a)   This Amendment has been duly authorized, executed and delivered by
the Borrower and this Amendment and the Credit Agreement, as amended hereby,
constitutes the Borrower's legal, valid and binding obligation, enforceable
against it in accordance with its terms, except to the extent that the
enforceability thereof may be limited by bankruptcy, insolvency, reorganization,
moratorium or other similar laws generally affecting creditors' rights and by
equitable principles (regardless of whether enforcement is sought in equity or
at law);

        (b)   The representations and warranties set forth in the Credit
Agreement are, after giving effect to this Amendment, true and correct in all
material respects on and as of the First Amendment Effective Date, except to the
extent such representations and warranties are expressly made as of a

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specified date (in which event they were true and correct in all material
respects as of such specified date); and

        (c)   No Default or Event of Default has occurred and is continuing.

        SECTION 5. References to and Effect on the Credit Agreement. On and
after the date hereof each reference in the Credit Agreement to "this
Agreement," "hereunder," "hereof," "herein," or words of like import, and each
reference to the Credit Agreement, as the case may be, in the Loan Documents and
all other documents (the "Ancillary Documents") delivered in connection with the
Credit Agreement shall mean and be a reference to the Credit Agreement as
amended hereby.

        Except as specifically amended above, the Credit Agreement, and the
other Loan Documents and all other Ancillary Documents shall remain in full
force and effect and are hereby ratified and confirmed.

        On and after the First Amendment Effective Date, each reference in the
Credit Agreement to "Revolving Loans" shall include the Existing Revolving Loans
as refinanced (or converted) by or into the New Revolving Loans.

        The execution, delivery and effectiveness of this Amendment shall not,
except as expressly provided herein, operate as a waiver of any right, power or
remedy of the Lenders or Administrative Agent under the Credit Agreement, the
Loan Documents or the Ancillary Documents.

        SECTION 6. Fees, Costs and Expenses. Borrower agrees to pay all
reasonable costs and expenses of the Administrative Agent in connection with the
negotiation, preparation, printing, typing, reproduction, execution and delivery
of this Amendment and all other documents furnished pursuant hereto or in
connection herewith, including without limitation, the reasonable fees and
out-of-pocket expenses of Winston & Strawn LLP, special counsel to
Administrative Agent and any local counsel retained by Administrative Agent
relative thereto or the reasonable allocated costs of staff counsel as well as
the fees and out-of-pocket expenses of counsel, independent public accountants
and other outside experts retained by Administrative Agent in connection with
the administration of this Amendment.

        SECTION 7. Miscellaneous.

        7.1   Execution in Counterparts. This Amendment may be executed in one
or more counterparts, each of which, when executed and delivered, shall be
deemed to be an original and all of which counterparts, taken together, shall
constitute but one and the same document with the same force and effect as if
the signatures of all of the parties were on a single counterpart, and it shall
not be necessary in making proof of this Amendment to produce more than one
(1) such counterpart. Delivery of an executed signature page to this Amendment
by telecopy shall be deemed to constitute delivery of an originally executed
signature page hereto.

        7.2   Governing Law. THIS AMENDMENT SHALL BE DEEMED TO BE A CONTRACT
MADE UNDER THE LAWS OF THE STATE OF NEW YORK, AND FOR ALL PURPOSES SHALL BE
CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS AND DECISIONS OF SAID STATE
WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAWS.

        7.3   Headings. Headings used in this Amendment are for convenience of
reference only and shall not affect the construction of this Amendment.

        7.4   Integration. This Amendment, the other agreements and documents
executed and delivered pursuant to this Amendment and the Credit Agreement
constitute the entire agreement among the parties hereto with respect to the
subject matter hereof.

        7.5   Binding Effect. This Amendment shall be binding upon and inure to
the benefit of and be enforceable by the Borrower, the Administrative Agent and
the Lenders and their respective successors

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and assigns. Except as expressly set forth to the contrary herein, this
Agreement shall not be construed so as to confer any right or benefit upon any
Person other than the Borrower, the Administrative Agent and the Lenders and
their respective successors and permitted assigns.

[signature page follows]

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        IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
duly executed and delivered by their duly authorized officers as of the day and
year first above written.

 
 
HUNTSMAN ADVANCED MATERIALS LLC
 
 
By:
 
/s/  SEAN DOUGLAS      

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    Name:   Sean Douglas

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    Title:   Vice President and Treasurer

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DEUTSCHE BANK AG NEW YORK BRANCH, individually and as Administrative Agent
 
 
By:
 
/s/  SUSAN LEFEVRE      

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    Name:   Susan LeFevre

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    Title:   Director

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By:
 
/s/  LANA GIFAS      

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    Name:   Lana Gifas

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    Title:   Vice President

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CREDIT SUISSE, Cayman Islands Branch (formerly known as CREDIT SUISSE FIRST
BOSTON, Cayman Islands Branch)
 
 
By:
 
/s/  ALAIN DAOUST      

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    Name:   Alain Daoust

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    Title:   Director

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By:
 
/s/  KARIM BLASETTI      

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    Name:   Karim Blasetti

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    Title:   Associate

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CIBC Inc.
 
 
By:
 
/s/  JONATHAN RABINOWITZ      

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    Name:   Jonathan Rabinowitz

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    Title:   Executive Director

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        CIBC World Markets Corp. as Agent

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UBS AG Cayman Islands Branch
 
 
By:
 
/s/  WILFRED V. SAINT      

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    Name:   Wilfred V. Saint

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    Title:   Director of Banking

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        Products Service, US

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By:
 
/s/  JOSELIN FERNANDES      

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    Name:   Joselin Fernandes

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    Title:   Associate Director Banking

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        Products Services, US

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FIRST AMENDMENT TO CREDIT AGREEMENT