Exhibit 10-www(10)

AMENDMENT NO. 1 TO THE PLEDGE AGREEMENT

AMENDMENT NO. 1, dated as of March 3, 2003 (this "Amendment No. 1"), to the
Pledge Agreement, dated as of December 21, 2001 (as amended, supplemented or
otherwise modified from time to time, the "Pledge Agreement"), among MEMC
Electronic Materials, Inc., a Delaware corporation (the "Borrower"), each
subsidiary of the Borrower party thereto (each such subsidiary individually a
"Subsidiary Pledgor" and, collectively, the "Subsidiary Pledgors"; and the
Subsidiary Pledgors and Borrower are referred to collectively herein as the
"Pledgors") and Citicorp USA, Inc., as collateral agent (in such capacity, the
"Collateral Agent") for the Secured Parties.

W I T N E S S E T H:

WHEREAS, pursuant to the Pledge Agreement, the Pledgors agreed to pledge and
grant to the Collateral Agent a security interest in the Collateral for the
ratable benefit of the Secured Parties under the Revolving Credit Agreement,
dated as of December 21, 2001, among the Borrower, the lenders party thereto,
and Citicorp USA, Inc. as administrative agent and collateral agent (as amended,
supplemented or otherwise modified from time to time, the "Bank Revolving Credit
Agreement");

WHEREAS, the Borrower has entered into that certain revolving credit agreement,
dated as of December 5, 2002, with the lenders party thereto (the "Investor
Lenders") and Citicorp USA, Inc. as administrative agent and collateral agent
(as amended, supplemented or otherwise modified from time to time, the "Investor
Revolving Credit Agreement"), pursuant to which the Investor Lenders agreed to
provide the Borrower with a revolving credit facility in an aggregate principal
amount not to exceed $35,000,000;

WHEREAS, to induce the Investor Lenders to enter into the Investor Revolving
Credit Agreement, the Pledgors agreed to pledge and grant a senior subordinated
security interest in the Collateral (the "Investor Security Interest") to secure
the Borrower's obligations under the Investor Revolving Credit Agreement for the
ratable benefit of the Secured Parties (as defined in the Investor Revolving
Credit Agreement), pursuant to the Security Documents (as defined in the
Investor Revolving Credit Agreement);

WHEREAS, the Pledgors and the Collateral Agent wish to amend the Pledge
Agreement to, among other things, account for the Investor Security Interest;

WHEREAS, pursuant to Section 11 of the Pledge Agreement, the Pledge Agreement
may be amended or modified pursuant to a written agreement among the Collateral
Agent and the Pledgors with respect to which such amendment or modification is
to apply, with the consent of the Required Lenders as required in accordance
with Section 9.02 of the Bank Revolving Credit Agreement; and

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

1. Defined Terms. Unless otherwise defined herein or amended hereby, capitalized
terms used herein which are defined in the Pledge Agreement, as amended at any
time and from time to time hereafter, or the Bank Revolving Credit Agreement,
are used herein as therein defined.

2. Amendments to the Pledge Agreement.

(a) Section 3(b) is hereby amended to read in its entirety as follows (added
language in bold type):

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> > > (b) except for the lien and security interest granted under the
> > > Reimbursement Documentation as security for the payment or performance, as
> > > the case may be, in full of the Reimbursement Obligations (the
> > > "Reimbursement Security Interest"), the lien and security interest granted
> > > under the Investor Revolving Credit Documentation (as defined in the
> > > Security Agreement, as amended) for the payment or performance, as the
> > > case may be, of the Investor Revolver Obligations (as defined in the
> > > Security Agreement, as amended), the lien and security interest granted
> > > under the Indenture Documentation as security for the payment or
> > > performance, as the case may be, of the Indenture Obligations, and the
> > > security interest granted hereunder, such Pledgor (i) is and will at all
> > > times continue to be the direct owner, beneficially and of record, of the
> > > Pledged Securities indicated on Schedule II, (ii) holds the same free and
> > > clear of all Liens, (iii) will make no assignment, pledge, hypothecation
> > > or transfer of, or create or permit to exist any security interest in or
> > > other Lien on, the Collateral, other than pursuant hereto, and (iv)
> > > subject to Section 5, will cause any and all Collateral, whether for value
> > > paid by such Pledgor or otherwise, to be forthwith deposited with the
> > > Collateral Agent and pledged or assigned hereunder;

(b)Section 3(c) is hereby amended to read in its entirety as follows (added
language in bold type):

> > > (c) such Pledgor (i) has the power and authority to pledge the Collateral
> > > in the manner hereby done or contemplated and (ii) will defend its title
> > > or interest thereto or therein against any and all Liens (other than the
> > > Liens created by this Agreement, the Reimbursement Documentation, the
> > > Investor Revolving Credit Documentation or the Indenture Documentation),
> > > however arising, of all Persons whomsoever;

(c)Section 8 is hereby amended as follows:

(i) immediately after the paragraph beginning with "SECOND, to the payment in
full of the Revolving Credit Obligations . . ." and before the paragraph
beginning with "THIRD, to the payment in full of the Indenture Obligations
outstanding . . .", the following paragraph is inserted: "THIRD, to the payment
in full of the Investor Revolver Obligations outstanding;";

(ii) the word "THIRD" in the paragraph beginning with "THIRD, to the payment in
full of the Indenture Obligations outstanding . . ." is deleted and replaced
with the word: "FOURTH"; and

(iii) the word "FOURTH" in the paragraph beginning with "FOURTH, to the Pledgors
. . ." is deleted and replaced with the word: "FIFTH".

3.Effectiveness. This Amendment No. 1 shall become effective as of the date
first written above (the "First Amendment Effective Date").

4.Reference to and Effect on the Pledge Agreement.

(a)On or after the First Amendment Effective Date, each reference in the Pledge
Agreement to "this Agreement," "hereunder," "hereof," "herein," or words of like
import referring to the Pledge Agreement, shall mean and be a reference to the
Pledge Agreement, as amended by this Amendment No. 1.

(b)Except as amended hereby, the provisions of the Pledge Agreement are and
shall remain in full force

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and effect.

(c) This Amendment No. 1 shall not be construed as a waiver or consent to any
further or future action on the part of any of the Pledgors that would require a
waiver or consent of the Collateral Agent.

5. Counterparts. This Amendment No. 1 may be executed in counterparts and all of
the said counterparts taken together shall be deemed to constitute one and the
same instrument.

6. GOVERNING LAW. THIS AMENDMENT NO. 1 SHALL BE GOVERNED BY, AND CONSTRUED AND
INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

IN WITNESS WHEREOF, the Borrower, each of the Subsidiary Pledgors, the
Collateral Agent and the Required Lenders have caused this Amendment No. 1 to be
executed and delivered by their duly authorized officers as of the date first
above written.

 

MEMC ELECTRONIC MATERIALS, INC.,

By: /s/ Kenneth L. Young
Name: Kenneth L. Young
Title: Treasurer EACH OF THE SUBSIDIARY PLEDGORS

By: /s/ Kenneth L. Young
Name: Kenneth L. Young, in his capacity as Treasure for each of the Subsidiary
Pledgors CITICORP USA, INC. as Collateral Agent and Lender

By: /s/ Allen Fisher
Name: Allen Fisher
Title: Vice President UBS AG, STAMFORD BRANCH, as Lender

By: /s/ Wilfred V. Saint
Name: Wilfred V. Saint
Title: Associate Director,
Banking Products Services, US     By: /s/ Susan Bruhner
Name: Susan Bruhner
Title: Associate Director,
Banking Products Services, US

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CONSENTED TO AND AGREED:

Name of Institution:

TPG PARTNERS III, L.P.

By: TPG GenPar III, L.P.,
Its General Partner

By: TPG Advisors III, Inc.,
Its General Partner

By: /s/ Richard A. Ekleberry
Name: Richard A. Ekleberry
Title: Vice President     Name of Institution:

TPG PARALLEL III, L.P.

By: TPG GenPar III, L.P.,
Its General Partner

By: TPG Advisors III, Inc.,
Its General Partner

By: /s/ Richard A. Ekleberry
Name: Richard A. Ekleberry
Title: Vice President     Name of Institution:

TPG INVESTORS III, L.P.

By: TPG GenPar III, L.P.,
Its General Partner

By: TPG Advisors III, Inc.,
Its General Partner

By: /s/ Richard A. Ekleberry
Name: Richard A. Ekleberry
Title: Vice President

CONSENTED TO AND AGREED:

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Name of Institution:

FOF PARTNERS III, L.P.

By: TPG GenPar III, L.P.,
Its General Partner

By: TPG Advisors III, Inc.,
Its General Partner

By: /s/ Richard A. Ekleberry
Name: Richard A. Ekleberry
Title: Vice President Name of Institution:

FOF PARTNERS III-B, L.P.

By: TPG GenPar III, L.P.,
Its General Partner

By: TPG Advisors III, Inc.,
Its General Partner

By: /s/ Richard A. Ekleberry
Name: Richard A. Ekleberry
Title: Vice President Name of Institution:

TPG DUTCH PARALLEL III, C.V.

By: TPG GenPar Dutch, L.L.C.,
Its General Partner

By: TPG GenPar III, L.P.,
Its Sole Member

By: TPG Advisors III, Inc.,
Its General Partner

By: /s/ Richard A. Ekleberry
Name: Richard A. Ekleberry
Title: Vice President

CONSENTED TO AND AGREED:

 

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Name of Institution:

T3 PARTNERS, L.P.

By: T3 GenPar, L.P.,
Its General Partner

By: T3 Advisors, Inc.,
Its General Partner

By: /s/ Richard A. Ekleberry
Name: Richard A. Ekleberry
Title: Vice President Name of Institution:

T3 PARALLEL, L.P.

By: T3 GenPar, L.P.,
Its General Partner

By: T3Advisors, Inc.,
Its General Partner

By: /s/ Richard A. Ekleberry
Name: Richard A. Ekleberry
Title: Vice President Name of Institution:

T3 INVESTORS, L.P.

By: T3 GenPar, L.P.,
Its General Partner

By: T3 Advisors, Inc.,
Its General Partner

By: /s/ Richard A. Ekleberry
Name: Richard A. Ekleberry
Title: Vice President

CONSENTED TO AND AGREED:

 

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Name of Institution:

T3 DUTCH PARALLEL, C.V.

By: T3 GenPar Dutch, L.L.C.,
Its General Partner

By: T3 GenPar, L.P.,
Its Sole Member

By: T3 Advisors, Inc.,
Its General Partner

By: /s/ Richard A. Ekleberry
Name: Richard A. Ekleberry
Title: Vice President Name of Institution:

T3 PARTNERS II, L.P.

By: T GenPar II, L.P.,
Its General Partner

By: T3 Advisors II, Inc.,
Its General Partner

By: /s/ Richard A. Ekleberry
Name: Richard A. Ekleberry
Title: Vice President Name of Institution:

T3 PARALLEL II, L.P.

By: T3 GenPar II, L.P.,
Its General Partner

By: T3 Advisors II, Inc.,
Its General Partner

By: /s/ Richard A. Ekleberry
Name: Richard A. Ekleberry
Title: Vice President Title: CONSENTED TO AND AGREED:  

Name of Institution:

GREEN EQUITY INVESTORS III, L.P.

 

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By: GEI Capital III, LLC, as its General Partner

By: /s/ John Danhakl
Name: John Danhakl
Title: Name of Institution:

GREEN EQUITY INVESTORS SIDE III, L.P.

By: GEI Capital III, LLC, as its General Partner

By: /s/ John Danhakl
Name: John Danhakl
Title: CONSENTED TO AND AGREED:

Name of Institution: TCW/CRESCENT MEZZANINE PARTNERS III, L.P.,
TCW/CRESCENT MEZZANINE TRUST III and
TCW/CRESCENT MEZZANINE PARTNERS III NETHERLANDS, L.P.

By: TCW/Crescent Mezzanine Management III, L.L.C.,
as Its Investment Manager

By: TCW Asset Management Company, as Its Sub- Advisor

By: /s/ Jean-Marc Chapus
Name: Jean-Marc Chapus
Title: Group Managing Director

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