--------------------------------------------------------------------------------

FIRST AMENDMENT
LYONDELLBASELL INDUSTRIES AF S.C.A
LONG-TERM INCENTIVE PLAN
 
 
(As Established Effective April 1, 2008)
 
WHEREAS, LyondellBasell Industries AF S.C.A. (the “Company”) established the
LyondellBasell Industries AF S.C.A. Long-Term Incentive Plan, effective April 1,
2008 (the “Plan”) for the benefit of certain eligible employees; and
 
WHEREAS, the Company desires to amend the Plan to provide that non-employee
directors may participate in the Plan;
 
NOW, THEREFORE, the Company hereby amends the Plan, effective as of September
23, 2008, as follows:
 
1.             Section 2 of the Plan is hereby amended by adding the following
new definition thereto:
 
“‘Non-Employee Director’ means an individual who serves on the Supervisory Board
or the Board of Directors of a Subsidiary or an Affiliate.”
 
2.             The definition of “Participant” in Section 2 of the Plan is
hereby amended to read as follows:
 
“‘Participant’ means an Employee or a Non-Employee Director who has entered into
an Equity Purchase Agreement and whose name is listed on Schedule A, as amended
from time to time.”
 
3.             Section 3(c) of the Plan is hereby amended to read as follows:
 
“(c)           Eligibility.  The Plan Administrator may, from time to time,
amend Schedule A to recognize an Employee or a Non-Employee Director as a
Participant in this Plan following the consummation of such individual’s equity
investment in accordance with the terms set forth in an Equity Purchase
Agreement.”
 
 
 

--------------------------------------------------------------------------------

 

4.             Section 8 of the Plan is hereby amended in its entirety to read
as follows:
 
“8.           Termination of Employment or Board Service.
 
The terms of the Award Agreement shall govern the treatment of any deferred or
unpaid Awards payable to the Participant upon the termination of employment or,
if applicable, service as a Non-Employee Director.  Notwithstanding anything
contained herein to the contrary, no Participant who is a U. S. taxpayer shall
be considered to have terminated employment or, if applicable, service as a
Non-Employee Director for purposes of the Plan and the Award Agreement unless
the Participant would be considered to have incurred a “separation from service”
within the meaning of Section 409A of the Code.”
 
5.             Section 14 of the Plan is hereby amended in its entirety to read
as follows:
 
“14.           No Right to Employment or Board Service.
 
The granting of an Award under the terms of this Plan shall not impose upon the
Company, a Subsidiary or an Affiliate any obligation to maintain any Participant
as an Employee or, if applicable, as a Non-Employee Director, and shall not
diminish the power of the Company, a Subsidiary or an Affiliate to discharge any
Participant at any time.”
 
IN WITNESS WHEREOF, the undersigned, being duly authorized on behalf of the
Company, has executed this Instrument on this 20th day October, 2008.
 
ATTEST:
 
LYONDELLBASELL INDUSTRIES AF S.C.A
     
By:
    /s/   Mindy G. Davidson  
By:
    /s/  C. Bart de Jong        
C. Bart de Jong
       
Senior Vice President, Human Resources

 
 

--------------------------------------------------------------------------------