Exhibit (10)(iv)

GREAT LAKES CHEMICAL CORPORATION
NONQUALIFIED DEFERRED COMPENSATION PLAN

Effective January 1, 2004

---

GREAT LAKES CHEMICAL CORPORATION  NONQUALIFIED DEFERRED COMPENSATION PLAN

TABLE OF CONTENTS

|            |  |                                                                             |  | Page
|----------- |  | --------------------------------------------------------------------------- |  | ----
|Article 1.  |  | Definitions                                                                 |  | 1   
|Article 2.  |  | Eligibility and Participation                                               |  | 9   
|2.1         |  | Selection by Administrator                                                  |  | 9   
|2.2         |  | Enrollment Requirements                                                     |  | 9   
|2.3         |  | Commencement of Participation                                               |  | 9   
|2.4         |  | Termination of Participation and/or Deferrals                               |  | 9   
|Article 3.  |  | Credits to Accounts and Vesting                                             |  | 9   
|3.1         |  | Minimum Deferrals                                                           |  | 9   
|3.2         |  | Maximum Deferral                                                            |  | 10  
|3.3         |  | Deferral Elections                                                          |  | 10  
|3.4         |  | Withholding and Crediting of Annual Deferral Amounts                        |  | 11  
|3.5         |  | Crediting of Prior Plan Amount                                              |  | 11  
|3.6         |  | Crediting of Employer Contribution Amounts                                  |  | 11  
|3.7         |  | Crediting of Employer Restoration Matching Amounts                          |  | 11  
|3.8         |  | Crediting of Restricted Stock Amounts                                       |  | 11  
|3.9         |  | Vesting                                                                     |  | 12  
|3.10        |  | Crediting/Debiting of Account Balances                                      |  | 12  
|3.11        |  | FICA and Other Taxes                                                        |  | 14  
|Article 4.  |  | In-Service Distributions                                                    |  | 14  
|4.1         |  | Elected In-Service Distributions                                            |  | 14  
|4.2         |  | Other Benefits Take Precedence Over In-Service Distributions                |  | 15  
|4.3         |  | Distributions on Account of Unforeseeable Financial Emergencies             |  | 15  
|Article 5.  |  | Change in Control Benefit                                                   |  | 16  
|5.1         |  | Change in Control Benefit                                                   |  | 16  
|Article 6.  |  | Retirement Benefits                                                         |  | 16  
|6.1         |  | Retirement Benefit                                                          |  | 16  
|6.2         |  | Payment of Retirement Benefit                                               |  | 16  
|Article 7.  |  | Termination Benefits                                                        |  | 17  
|7.1         |  | Termination Benefit                                                         |  | 17  
|7.2         |  | Payment of Termination Benefit                                              |  | 17  
|Article 8.  |  | Disability Waiver and Benefits                                              |  | 17  
|8.1         |  | Disability Waiver                                                           |  | 17  
|8.2         |  | Disability Benefit                                                          |  | 17  
|Article 9.  |  | Survivor Benefits                                                           |  | 18  
|9.1         |  | Survivor Benefit                                                            |  | 18  
|9.2         |  | Payment of Survivor Benefit                                                 |  | 18  
|Article 10. |  | Beneficiary Designations                                                    |  | 18  
|10.1        |  | Beneficiary                                                                 |  | 18  
|10.2        |  | Beneficiary Designation; Change of Beneficiary Designation; Spousal Consent |  | 19  
|10.3        |  | Acknowledgment                                                              |  | 19  
|10.4        |  | No Beneficiary Designation                                                  |  | 19  
|            |  |                                                                             |  |     

---

|10.5        |  | Doubt as to Beneficiary                     |  | 19
|----------- |  | ------------------------------------------- |  | --
|10.6        |  | Discharge of Obligations                    |  | 19
|Article 11. |  | Leaves of Absence                           |  | 19
|11.1        |  | Paid Leave of Absence                       |  | 19
|11.2        |  | Unpaid Leave of Absence                     |  | 19
|Article 12. |  | Termination and Amendment                   |  | 20
|12.1        |  | Termination                                 |  | 20
|12.2        |  | Amendment                                   |  | 20
|12.3        |  | Effect of Payment                           |  | 21
|Article 13. |  | Administration                              |  | 21
|13.1        |  | Administrator's Duties                      |  | 21
|13.2        |  | Administration Upon Change In Control       |  | 21
|13.3        |  | Agents                                      |  | 21
|13.4        |  | Binding Effect of Decisions                 |  | 22
|13.5        |  | Indemnification of Committee                |  | 22
|13.6        |  | Employer Information                        |  | 22
|Article 14. |  | Other Benefits and Agreements               |  | 23
|14.1        |  | Coordination with Other Benefits            |  | 23
|Article 15. |  | Claims Procedures                           |  | 23
|15.1        |  | Presentation of Claim                       |  | 23
|15.2        |  | Notification of Decision                    |  | 23
|15.3        |  | Review of a Denied Claim                    |  | 23
|15.4        |  | Decision on Review                          |  | 23
|15.5        |  | Legal Action                                |  | 23
|Article 16. |  | Trust                                       |  | 23
|16.1        |  | Establishment of the Trust                  |  | 23
|16.2        |  | Interrelationship of the Plan and the Trust |  | 23
|16.3        |  | Distributions From the Trust                |  | 23
|Article 17. |  | Miscellaneous Provisions                    |  | 23
|17.1        |  | Status of Plan                              |  | 23
|17.2        |  | Unsecured General Creditor                  |  | 23
|17.3        |  | Source of Payments                          |  | 23
|17.4        |  | Nonassignability                            |  | 23
|17.5        |  | Not a Contract of Employment                |  | 23
|17.6        |  | Furnishing Information                      |  | 23
|17.7        |  | Terms                                       |  | 23
|17.8        |  | Captions                                    |  | 23
|17.9        |  | Governing Law                               |  | 23
|17.10       |  | Notice                                      |  | 23
|            |  |                                             |  |   

ii

---

|17.11 |  | Successors                                           |  | 23
|----- |  | ---------------------------------------------------- |  | --
|17.12 |  | Spouse's Interest                                    |  | 23
|17.13 |  | Validity                                             |  | 23
|17.14 |  | Payments for the Benefit of Incompetent Persons      |  | 23
|17.15 |  | Court Order                                          |  | 23
|17.16 |  | Distribution in the Event of Taxation                |  | 23
|17.17 |  | Deduction Limitation on Benefit Payments             |  | 23
|17.18 |  | Insurance                                            |  | 23
|17.19 |  | Legal Fees To Enforce Rights After Change in Control |  | 23

iii

---

GREAT LAKES CHEMICAL CORPORATION  NONQUALIFIED DEFERRED COMPENSATION PLANEffective January 1, 2004

Adoption and Purpose

Great Lakes Chemical Corporation, a Delaware corporation ("Company") has adopted this Great Lakes Chemical Corporation Nonqualified Deferred Compensation Plan
("Plan"), effective January 1, 2004. The purpose of the Plan is to provide specified benefits for a select group of management or highly compensated employees of the Company and/or its
participating subsidiaries (together, "Employers") who contribute materially to the continued growth, development, and future business success of the Employers. This Plan shall be unfunded for tax
purposes and for purposes of Title I of ERISA. This Plan supersedes in its entirety the Great Lakes Chemical Corporation Supplemental Savings Plan, effective January 1, 1995, as amended ("Prior
Supplemental Savings Plan"), and the Great Lakes Chemical Corporation Deferred Compensation Plan, restated as of January 1, 1997, as amended ("Prior Deferred Compensation Plan") (together, the
"Prior Plans"), for any and all participants in a Prior Plan who are actively employed by an Employer as of the effective date of this Plan. Any and all credits to such actively employed participants
under a Prior Plan as of December 31, 2003, shall be subject to the terms and conditions of this Plan, effective January 1, 2004, and shall be referred to as the "Prior Plan Amount." All
participants in a Prior Plan who are not employed by an Employer on the effective date of this Plan shall continue to be participants in such Prior Plan and shall have no rights under this Plan.

ARTICLE 1.Definitions

For the purposes of this Plan, unless otherwise clearly apparent from the context, the following terms, when capitalized, shall have the following meanings:

---



2

---



3

---



4

---



5

---





6

---



7

---

8

---



ARTICLE 2.Eligibility and Participation

ARTICLE 3.Credits to Accounts and Vesting

Deferral

Minimum AmountBase Salary and/or Bonus

$
5,000 aggregate




Deferral

Minimum PercentageRestricted Stock

0
%


9

---

If
no election is made, the percentage deferred shall be zero.



Deferral

Maximum PercentageBase Salary

75
%Bonus

100
%




Deferral

Maximum PercentageRestricted Stock

100
%




10

---



11

---



12

---





13

---



ARTICLE 4.In-Service Distributions

14

---



15

---



ARTICLE 5.Change in Control Benefit

ARTICLE 6.Retirement Benefits

16

---

ARTICLE 7.Termination Benefits

ARTICLE 8.Disability Waiver and Benefits

17

---



ARTICLE 9.Survivor Benefits

ARTICLE 10.Beneficiary Designations

18

---

ARTICLE 11.Leaves of Absence

19

---

ARTICLE 12.Termination and Amendment

20

---

ARTICLE 13.Administration

21

---



22

---

ARTICLE 14.Other Benefits and Agreements

ARTICLE 15.Claims Procedures

ARTICLE 16.Trust

ARTICLE 17.Miscellaneous Provisions

IN
WITNESS WHEREOF, the Company's duly authorized officer has signed this Plan document as of December 18, 2003, to document the Company's adoption of the Plan.

| | GREAT LAKES CHEMICAL CORPORATION
| | --------------------------------
| | By:                             
| | Title:                          

23

---

ADOPTION AGREEMENT

By signing below, the duly authorized officer of Bio-Lab, Inc. has signed this Adoption Agreement to indicate
Bio-Lab, Inc.'s adoption of the Great Lakes Chemical Corporation Deferred Compensation Plan as a participating Employer, effective January 1, 2004.

| | Bio-Lab, Inc.
| | -------------
| | By:          
| |              

24

---

ADOPTION AGREEMENT

By signing below, the duly authorized officer of WIL Research Laboratories, Inc. has signed this Adoption Agreement to indicate WIL Research
Laboratories, Inc.'s adoption of the Great Lakes Chemical Corporation Deferred Compensation Plan as a participating Employer, effective January 1, 2004.

| | WIL Research Laboratories, Inc.
| | -------------------------------
| | By:                            
| |                                

25

---

QuickLinks