Exhibit
10.8
 SALE AND PURCHASE AGREEMENT
 by and among
 EAGLEPICHER CORPORATION,
 as guarantor of the Seller,
 EAGLEPICHER TECHNOLOGIES HOLDINGS, LLC,
 as the Seller,
 EAGLEPICHER TECHNOLOGIES, LLC,
 as the Company,
 OM GROUP, INC.,
 as limited guarantor of the Buyer
 and
 OMG ENERGY HOLDINGS, INC.,
 as the Buyer
 Dated as of December 23, 2009




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##### 



TABLE OF CONTENTS
 PageARTICLE I DEFINITIONS
    
    
    1Section 1.1
    
    Certain Defined Terms
    
    
    1Section 1.2
    
    Table of Definitions
    
    
    9ARTICLE II PURCHASE AND SALE
    
    
    11Section 2.1
    
    Purchase and Sale of the Equity Interests
    
    
    11Section 2.2
    
    Closing
    
    
    11Section 2.3
    
    Deliveries by the Seller
    
    
    12Section 2.4
    
    Deliveries by the Buyer
    
    
    13Section 2.5
    
    Adjustment of Purchase Price
    
    
    13Section 2.6
    
    Purchase Price Allocation
    
    
    15ARTICLE III REPRESENTATIONS AND WARRANTIES OF THE SELLER
    
    
    16Section 3.1
    
    Organization
    
    
    16Section 3.2
    
    Authority
    
    
    16Section 3.3
    
    No Conflict; Required Filings and Consents
    
    
    16Section 3.4
    
    Equity Interests
    
    
    17Section 3.5
    
    Brokers
    
    
    17Section 3.6
    
    Litigation
    
    
    17Section 3.7
    
    Value Creation Awards
    
    
    17Section 3.8
    
    Exclusivity of Representations and Warranties
    
    
    18ARTICLE IV REPRESENTATIONS AND WARRANTIES OF THE COMPANY
    
    
    18Section 4.1
    
    Organization and Qualification
    
    
    18Section 4.2
    
    Authority
    
    
    18Section 4.3
    
    No Conflict; Required Filings and Consents
    
    
    19Section 4.4
    
    Capitalization
    
    
    19Section 4.5
    
    Equity Interests
    
    
    20Section 4.6
    
    Financial Statements; No Undisclosed Liabilities
    
    
    20Section 4.7
    
    Absence of Certain Changes or Events
    
    
    21Section 4.8
    
    Compliance with Law; Permits
    
    
    21Section 4.9
    
    Litigation
    
    
    22Section 4.10
    
    Employee Benefit Plans
    
    
    22Section 4.11
    
    Labor and Employment Matters
    
    
    25
 i




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##### 



TABLE OF CONTENTS
 PageSection 4.12
    
    Insurance
    
    
    26Section 4.13
    
    Real Property
    
    
    26Section 4.14
    
    Intellectual Property
    
    
    27Section 4.15
    
    Taxes
    
    
    30Section 4.16
    
    Environmental Matters
    
    
    32Section 4.17
    
    Material Contracts
    
    
    34Section 4.18
    
    Government Contracts
    
    
    35Section 4.19
    
    Export Controls
    
    
    38Section 4.20
    
    Brokers
    
    
    38Section 4.21
    
    Sufficiency of Assets
    
    
    38Section 4.22
    
    Product Warranty; Product Liability
    
    
    38Section 4.23
    
    Banks; Power of Attorney
    
    
    39Section 4.24
    
    Inventories
    
    
    39Section 4.25
    
    Accounts and Notes Receivable and Payable
    
    
    39Section 4.26
    
    Related Party Transactions
    
    
    39Section 4.27
    
    Customers and Suppliers
    
    
    40Section 4.28
    
    Exclusivity of Representations and Warranties
    
    
    40ARTICLE V REPRESENTATIONS AND WARRANTIES OF THE BUYER
    
    
    40Section 5.1
    
    Organization
    
    
    41Section 5.2
    
    Authority
    
    
    41Section 5.3
    
    No Conflict; Required Filings and Consents
    
    
    41Section 5.4
    
    Financing
    
    
    42Section 5.5
    
    Brokers
    
    
    42Section 5.6
    
    Investment Intent
    
    
    42Section 5.7
    
    Buyers Investigation and Reliance
    
    
    42Section 5.8
    
    U.S. Controlled Entity
    
    
    43Section 5.9
    
    Litigation
    
    
    43ARTICLE VI COVENANTS
    
    
    43Section 6.1
    
    Conduct of Business Prior to the Closing
    
    
    43Section 6.2
    
    Covenants Regarding Information
    
    
    45Section 6.3
    
    Notification of Certain Matters
    
    
    46
 ii




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##### 



TABLE OF CONTENTS
 PageSection 6.4
    
    Intercompany Arrangements
    
    
    46Section 6.5
    
    No Solicitation
    
    
    46Section 6.6
    
    Confidentiality
    
    
    47Section 6.7
    
    Consents and Filings; Further Assurances
    
    
    48Section 6.8
    
    Public Announcements
    
    
    49Section 6.9
    
    Release of Guarantees
    
    
    49Section 6.10
    
    Use of Names
    
    
    50Section 6.11
    
    Employment and Employee Benefits Matters; Other Plans
    
    
    50Section 6.12
    
    Real Property Matters
    
    
    53Section 6.13
    
    Environmental Mandate Transfers
    
    
    54Section 6.14
    
    Waiver of Environmental Claims
    
    
    54Section 6.15
    
    Property Taxes
    
    
    54Section 6.16
    
    Tax Matters
    
    
    55Section 6.17
    
    Insurance Matters
    
    
    58Section 6.18
    
    Directors and Officers Indemnification
    
    
    59Section 6.19
    
    Disposition of Assets
    
    
    59Section 6.20
    
    Closing Payments
    
    
    59Section 6.21
    
    Software
    
    
    59Section 6.22
    
    Bankruptcy Documentation
    
    
    60Section 6.23
    
    Separation of Bank Accounts
    
    
    60ARTICLE VII CONDITIONS TO CLOSING
    
    
    60Section 7.1
    
    General Conditions
    
    
    60Section 7.2
    
    Conditions to Obligations of the Seller and the Company
    
    
    60Section 7.3
    
    Conditions to Obligations of the Buyer
    
    
    61ARTICLE VIII INDEMNIFICATION
    
    
    62Section 8.1
    
    Survival of Representations and Warranties
    
    
    62Section 8.2
    
    Indemnification by the Seller
    
    
    62Section 8.3
    
    Indemnification by the Buyer
    
    
    63Section 8.4
    
    Procedures
    
    
    63Section 8.5
    
    Limits on Indemnification
    
    
    65Section 8.6
    
    Exclusive Remedy
    
    
    67
 iii




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##### 



TABLE OF CONTENTS
 PageSection 8.7
    
    Dispute Resolution
    
    
    68ARTICLE IX TERMINATION
    
    
    68Section 9.1
    
    Termination
    
    
    68Section 9.2
    
    Effect of Termination
    
    
    69ARTICLE X GENERAL PROVISIONS
    
    
    69Section 10.1
    
    Fees and Expenses; Conveyance Taxes
    
    
    69Section 10.2
    
    Amendment and Modification
    
    
    69Section 10.3
    
    Waiver
    
    
    70Section 10.4
    
    Notices
    
    
    70Section 10.5
    
    Interpretation
    
    
    71Section 10.6
    
    Entire Agreement
    
    
    71Section 10.7
    
    No Third-Party Beneficiaries
    
    
    71Section 10.8
    
    Governing Law
    
    
    71Section 10.9
    
    Submission to Jurisdiction
    
    
    71Section 10.10
    
    Disclosure Generally
    
    
    72Section 10.11
    
    Personal Liability
    
    
    72Section 10.12
    
    Assignment; Successors
    
    
    72Section 10.13
    
    Enforcement
    
    
    73Section 10.14
    
    Currency
    
    
    73Section 10.15
    
    Severability
    
    
    73Section 10.16
    
    Waiver of Jury Trial
    
    
    73Section 10.17
    
    Guarantees
    
    
    73Section 10.18
    
    Counterparts
    
    
    74Section 10.19
    
    Facsimile Signature
    
    
    74Section 10.20
    
    Time of Essence
    
    
    74Section 10.21
    
    Legal Representation
    
    
    74Section 10.22
    
    No Presumption Against Drafting Party
    
    
    74
 iv




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##### 



TABLE OF CONTENTS
 Exhibit A
    
    Form of Seller ReleaseExhibit B
    
    Form of Trademark AssignmentExhibit C
    
    Form of Domain Name AssignmentExhibit D
    
    Form of Transition Services Agreement




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##### 



SALE AND PURCHASE AGREEMENT
 Agreement Seller EPT Company EPC OMG Buyer
 RECITALS
 Equity Interests
    AGREEMENT
  ARTICLE I
DEFINITIONS
 Section 1.1 Certain Defined Terms
 Action
 Affiliate
 Audit Claims
 Bid




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##### 



Business Day
 Canadian Subsidiary
 Cash
 Closing Cash
 Code
 Company Employee
 Company Intellectual Property
 Confidentiality Agreement
 Contract
 control controlled by under common control
with
 2




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##### 



Controlled Group
 Copyrights
 COTS Software
 Credit Facilities
 Domain Names
 EaglePicher Marks
 Encumbrance
 Environmental Mandates
 EPT Pension Plans
 3




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##### 



ERISA
 Escrow Agent
 Escrow Agreement
 Escrow Amount
 Former Company Employee
 GAAP
 Governmental Authority
 Government Contract
 Indebtedness
 Indemnified Joplin Environmental Conditions
 4




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##### 



Information Systems
 Intellectual Property
 IRS
 Joplin Letter of Credit
 Joplin RCRA Facility
 Joplin RFI Report
 Knowledge
 Law
 Lease
 Leased Real Property
 Liability
 5




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##### 



Material Adverse Effect
 ordinary course of business
 Owned Real Property
 Order
 6




---



##### 



Patents
 Permitted Encumbrance
 Person
 Pre-Closing Tax Period
 Real Property
 Reference Amount
 Representatives
 Return
 7




---



##### 



RCRA
 Software
 Specified Accounting Policies
 Subsidiary
 Taxes
 Title Policies
 Trade Secrets
 Trademarks
 8




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##### 



Transaction Expenses
 Transferred Real Property th
 U.S. Government
 Section 1.2 Table of Definitions
 Definition
    
    LocationAgreement
    
    PreambleAsset Acquisition Statement
    
    2.6Audit Claim Cap
    
    8.5(b)(i)Audit Claims
    
    2.2(c)Audit Escrow Amount
    
    2.2(c)Balance Sheet
    
    4.6(a)Basket Amount
    
    8.5(b)(ii)Business
    
    4.21Buyer
    
    PreambleBuyer Indemnified Parties
    
    8.2(a)Buyer Plan
    
    6.11(c)Buyers Flexible Account Plan
    
    6.11(i)Cap
    
    8.5(b)(i)Claim
    
    6.17(a)
 9




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##### 



Definition
    
    LocationClosing
    
    2.2(a)Closing Balance Sheet
    
    2.5(a)Closing Date
    
    2.2(a)Closing Working Capital
    
    2.5(a)Company
    
    PreambleCompany Employee Plan
    
    4.10(a)Company Trust
    
    6.11(d)Confidential Information
    
    6.6(c)Conveyance Taxes
    
    10.1(b)Core Representations
    
    7.3(a)Disagreement Notice
    
    8.4(d)Disclosure Schedules
    
    Article IVDisputes
    
    8.7(a)Employee Plan
    
    4.10(a)Employee Plans
    
    4.10(a)Environmental Laws
    
    4.16(c)(i)Environmental Permits
    
    4.16(c)(ii)EP Minerals
    
    6.10(b)EPC
    
    PreambleEPT
    
    PreambleEquity Interests
    
    RecitalsFinancial Statements
    
    4.6(a)Foreign Plan
    
    4.10(l)Guarantees
    
    6.9Hazardous Material
    
    4.16(c)(iii)HSR Act
    
    3.3(b)Indemnified Party
    
    8.4(a)Indemnifying Party
    
    8.4(a)Independent Accounting Firm
    
    2.5(c)Independent Expert
    
    8.7(a)Insurance Policies
    
    4.12Landlord
    
    6.12(c)Losses
    
    8.2(a)LTD
    
    6.11(g)Master Trust
    
    6.11(d)Material Contracts
    
    4.17(a)Minimum Loss Amount
    
    8.5(b)(ii)Non-Company Employee Plan
    
    4.10(a)Notice of Disagreement
    
    2.5(b)PBGC
    
    6.11(d)Permits
    
    4.8(b)Post-Closing Straddle Period
    
    6.16(a)Potential Contributor
    
    8.6Pre-Closing Straddle Period
    
    6.16(a)Privilege Period
    
    6.16(a)Property Taxes
    
    6.15(a)
 10




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##### 



Definition
    
    LocationPurchase Price
    
    2.1Related Persons
    
    4.26Remedial Action
    
    8.4(f)Revised Statements
    
    2.6Securities Act
    
    5.6Seller
    
    PreambleSeller Indemnified Parties
    
    8.3Sellers Flexible Account Plan
    
    6.11(i)Straddle Period
    
    6.16(a)Tax Matters
    
    6.16(d)Termination Date
    
    9.1(c)Third Party Claim
    
    8.4(a)Title Requirements
    
    6.12(a)Transition Services Agreement
    
    2.4(d)WARN
    
    6.11(f)
 ARTICLE II
PURCHASE AND SALE
 Section 2.1 Purchase and Sale of the Equity Interests Purchase
Price
 Section 2.2 Closing
 Closing Closing
Date
  11




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##### 



Audit Escrow Amount
 Section 2.3 Deliveries by the Seller
      Exhibit A
  Exhibit B
 Exhibit C
 Transition Services Agreement Exhibit D
 12




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##### 



Section 2.4 Deliveries by the Buyer
      Section 2.5 Adjustment of Purchase Price
 Closing Balance Sheet Closing Working Capital
 th Notice of Disagreement
 13




---



##### 



Independent Accounting Firm
   14




---



##### 



Section 2.6 Purchase Price Allocation Asset Acquisition Statement Revised Statements
 15




---



##### 



ARTICLE III
REPRESENTATIONS AND WARRANTIES
OF THE SELLER
  Section 3.1 Organization
 Section 3.2 Authority
 Section 3.3 No Conflict; Required Filings and Consents
  16




---



##### 



HSR Act
 Section 3.4 Equity Interests
 Section 3.5 Brokers
 Section 3.6 Litigation
 17




---



##### 



Section 3.7 Value Creation Awards
 Section 3.8 Exclusivity of Representations and Warranties
 ARTICLE IV
REPRESENTATIONS AND WARRANTIES OF THE COMPANY
 Disclosure Schedules
 Section 4.1 Organization and Qualification
    Section 4.2 Authority
 18




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##### 



Section 4.3 No Conflict; Required Filings and Consents
       Section 4.4 Capitalization
 19




---



##### 



Section 4.5 Equity Interests
   Section 4.6 Financial Statements; No Undisclosed Liabilities
 Balance Sheet Financial Statements
 20




---



##### 



Section 4.7 Absence of Certain Changes or Events
 Section 4.8 Compliance with Law; Permits
  21




---



##### 



Permits
  Section 4.9 Litigation
 Section 4.10 Employee Benefit Plans
  22




---



##### 



Employee Plan Employee Plans Company Employee Plan Non-Company Employee Plan
     23




---



##### 



24




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##### 



Foreign Plan
 25




---



##### 



Section 4.11 Labor and Employment Matters
 Section 4.12 Insurance Insurance Policies
 Section 4.13 Real Property
   26




---



##### 



Section 4.14 Intellectual Property
  27




---



##### 



28




---



##### 



29




---



##### 



Section 4.15 Taxes
        30




---



##### 



31




---



##### 



Income Tax Act Income Tax Act
 Income Tax Act Income Tax Act
 Income Tax Act
 32




---



##### 



Section 4.16 Environmental Matters
           33




---



##### 



Environmental Laws
 Environmental Permits
 Hazardous Material
 Section 4.17 Material Contracts
 Material Contracts
        34




---



##### 



Section 4.18 Government Contracts
  35




---



##### 



,
       36




---



##### 



.
  ,
    37




---



##### 



Section 4.19 Export Controls
 Section 4.20 Brokers
 Section 4.21 Sufficiency of Assets Business
 38




---



##### 



Section 4.22 Product Warranty; Product Liability
   Section 4.23 Banks; Power of Attorney
 Section 4.24 Inventories
 Section 4.25 Accounts and Notes Receivable and Payable
  39




---



##### 



Section 4.26 Related Party Transactions Related Persons
 Section 4.27 Customers and Suppliers
   40




---



##### 



Section 4.28 Exclusivity of Representations and Warranties
 ARTICLE V
REPRESENTATIONS AND WARRANTIES OF THE BUYER
  Section 5.1 Organization
 Section 5.2 Authority
 Section 5.3 No Conflict; Required Filings and Consents
     41




---



##### 



Section 5.4 Financing
 Section 5.5 Brokers
 Section 5.6 Investment Intent Securities Act
 Section 5.7 Buyers Investigation and Reliance
 42




---



##### 



Section 5.8 U.S. Controlled Entity
 Section 5.9 Litigation
 ARTICLE VI
COVENANTS
 Section 6.1 Conduct of Business Prior to the Closing
 43




---



##### 



44




---



##### 



45




---



##### 



Section 6.2 Covenants Regarding Information
 provided however
  Section 6.3 Notification of Certain Matters provided
 46




---



##### 



Section 6.4 Intercompany Arrangements Medical Reimbursement Obligation
 Section 6.5 No Solicitation
   Section 6.6 Confidentiality
  47




---



##### 



provided however
 provided however Confidential
Information Confidential Information
  Section 6.7 Consents and Filings; Further Assurances
  48




---



##### 



49




---



##### 



Section 6.8 Public Announcements
 Section 6.9 Release of Guarantees Guarantees
 Section 6.10 Use of Names
 provided
 EP Minerals
 50




---



##### 



Section 6.11 Employment and Employee Benefits Matters; Other Plans
   Buyer
Plan
  51




---



##### 



Master
Trust Company Trust PBGC
  WARN
 52




---



##### 



LTD
  Sellers
Flexible Account Plan Buyers Flexible Account Plan
 53




---



##### 



Section 6.12 Real Property Matters
 Title
Requirements
 54




---



##### 



Landlord
 Section 6.13 Environmental Mandate Transfers
   Section 6.14 Waiver of Environmental Claims .
 Section 6.15 Property Taxes
  55




---



##### 



Property Taxes
 Section 6.16 Tax Matters.
 Straddle Period Pre-Closing Straddle Period Post-Closing Straddle Period
 56




---



##### 



Privilege Period
   Tax Matter
 57




---



##### 



58




---



##### 



Section 6.17 Insurance Matters.
 Claim
 59




---



##### 



Section 6.18 Directors and Officers Indemnification.
   Section 6.19 Disposition of Assets
  Section 6.20 Closing Payments
 Section 6.21 Software
 60




---



##### 



Section 6.22 Bankruptcy Documentation.
 Section 6.23 Separation of Bank Accounts.
 ARTICLE VII
CONDITIONS TO CLOSING
 Section 7.1 General Conditions provided
   61




---



##### 



Section 7.2 Conditions to Obligations of the Seller and the Company
   Section 7.3 Conditions to Obligations of the Buyer
 Core Representations
 62




---



##### 



ARTICLE VIII
INDEMNIFICATION
 Section 8.1 Survival of Representations and Warranties provided however
 Section 8.2 Indemnification by the Seller
 Buyer Indemnified Parties Losses
 63




---



##### 



Section 8.3 Indemnification by the Buyer Seller Indemnified Parties
   Section 8.4 Procedures
 Indemnified
Party Third Party
Claim Indemnifying Party
  64




---



##### 



provided however provided
  65




---



##### 



Disagreement Notice
  Remedial Action
 Section 8.5 Limits on Indemnification
  66




---



##### 



Cap Audit Claim Cap
 Basket Amount provided however Minimum Loss Amount provided further
    67




---



##### 



Section 8.6 Exclusive Remedy
 68




---



##### 



Section 8.7 Dispute Resolution Article VIII Disputes Independent Expert
 ARTICLE IX
TERMINATION
 Section 9.1 Termination
   Termination Date provided
 provided
 69




---



##### 



provided
  Section 9.2 Effect of Termination
 ARTICLE X
GENERAL PROVISIONS
 Section 10.1 Fees and Expenses; Conveyance Taxes
  Conveyance Taxes
 Section 10.2 Amendment and Modification
 70




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##### 



Section 10.3 Waiver
 Section 10.4 Notices
  
  
  
 71




---



##### 



Section 10.5 Interpretation
 Section 10.6 Entire Agreement
 Section 10.7 No Third-Party Beneficiaries
 Section 10.8 Governing Law
 Section 10.9 Submission to Jurisdiction
 72




---



##### 



Section 10.10 Disclosure Generally
 Section 10.11 Personal Liability
 Section 10.12 Assignment; Successors provided however provided further provided still further
 73




---



##### 



Section 10.13 Enforcement
 Section 10.14 Currency
 Section 10.15 Severability
 Section 10.16 Waiver of Jury Trial
 Section 10.17 Guarantees.
  74




---



##### 



Section 10.18 Counterparts
 Section 10.19 Facsimile Signature
 Section 10.20 Time of Essence
 Section 10.21 Legal Representation
 Section 10.22 No Presumption Against Drafting Party
  75




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##### 



EAGLEPICHER TECHNOLOGIES HOLDINGS, LLCBy:
    /s/ David L. TreadwellName:
    David L. TreadwellTitle:
    ChairmanEAGLEPICHER TECHNOLOGIES, LLCBy:
    /s/ David L. TreadwellName:
    David L. TreadwellTitle:
    ChairmanEAGLEPICHER CORPORATION

solely for the purpose of Section 10.17(a)By:
    /s/ David L. TreadwellName:
    David L. TreadwellTitle:
    President & CEOOMG ENERGY HOLDINGS, INC.By:
    /s/ Valerie Gentile SachsName:
    Valerie Gentile SachsTitle:
    SecretaryOM GROUP, INC.

solely for the purpose of Section 10.17(b)By:
    /s/ Kenneth HaberName:
    Kenneth HaberTitle:
    Chief Financial Officer 76