exv10w14





Exhibit 10.14








EMPLOYMENT AGREEMENT



Arizona
Chemical B.V., a limited liability company (besloten
vennootschap), having its seat (statutaire zetel) in Almere, and
its registered office in (1322 CE) Almere at the address
Transistorstraat 16, The Netherlands (the “Employer”)



and




	 	 	 
	Mr.

	 	Dick Stuyfzand
	 
	 	 
	Residing at

	 	H.W. Mesdaglaan 13
	 

	 	2102 BB Heemstede





(the “Employee”)



Agree to the following:





	1.	 	Commencement, term and location of employment






	 	1.1	 	The employment agreement (the “Agreement”) shall
commence on 19 January 2009 (or at an
earlier date to be agreed by both parties) for an
indefinite period, subject to a two-month trial period.
During the trial period either party shall have
the right to terminate the Agreement with immediate effect.
	 
	 	1.2	 	The Employee will be employed as Vice President
General Counsel & Secretary and shall be responsible for all
duties in connection with the business of the
Employer which may reasonably be assigned to him by or
on behalf of the Employer. In this position you
will report to the President & Chief Executive
Officer of Arizona Chemical. In this position you will
act as Secretary of the Board of Directors of Arizona Chemical Investments LLC.
	 
	 	1.3	 	The Employee shall perform his duties from
the office of the Employer in Almere. If so
required the Employer will be entitled, after consultation with
the Employee, to change the place of employment.






	2.	 	Salary, working hours and benefits






	 	2.1	 	The Employee will receive a gross monthly
salary of € 11,960.— for a 38.75 hour
workweek, distributed over 5 working days (the
“Salary”). This
salary is including your activities for the Board of Directors
of Arizona Chemical Investments LLC.





					
	 
	Arizona Chemical B.V.
	 	 	 	Phone: (31) 36 — 546 28 00
	Transistorstraat 16 — 1322 CE Almere
	 	 
	 	Fax : (31) 36 — 546 28 73
	P.O. Box 60053 — 1320 AB Almere — The Netherlands
	 	 	 	Chamber of Commerce: nr. 32045469







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	 	 	 	Your compensation will be subject to periodic review
on an annual basis according to our internal
process. Please note that any merit increase
includes all legal salary increases where applicable. Your next merit
increase will be on 1 April 2010.






	 	2.2	 	In addition to the Salary, the Employee is
entitled to an annual holiday allowance equal to
8% of the Salary, multiplied by the number of months
of employment during a single calendar year. The holiday
allowance is paid out every year in April.
	 
	 	2.3	 	In addition you will be eligible to participate in
the Arizona Chemical Management Incentive Scheme (MIP). The target bonus will
be 39% of your position level midpoint.
	 
	 	2.4	 	In addition to statutory public holidays the Employee is entitled to 28 days
vacation per annum. Vacation days are prorated with respect to the number of months worked per calendar year.
	 
	 	2.5	 	The Employee’s position is regarded as Exempt, which
means that the Employee may not be entitled to claim
compensation for overtime, subject to the conditions as stipulated
in the Employer’s Personnel Manual (the
“Manual”).
	 
	 	2.6	 	The Employee will be included in the
Employer’s pension scheme. Participant rights and
obligations with regard to the pension scheme are
laid down in the Swiss Life pension plan rules
which are attached to the Agreement.
	 
	 	2.7	 	A company car will be made available to
the employee on the basis of the applicable car policy in
the Netherlands, copy of which is hereto attached.






	3.	 	Termination of employment






	 	3.l	 	Either party may terminate the Agreement by giving notice in writing. The Employee’s notice period is three (3) calendar
months, whereas the Employer has to observe a notice
period of six (6) calendar months, expiring on
the last day of a calendar month. The Agreement
shall terminate in any event, without such
notice being required, on the first day of the month
following the date on which the
Employee reaches the age of 65, unless the
pension scheme of the Employee provides for a
different date.
	 
	 	3.2	 	Upon termination of employment, the Employee will
be required to repay the Employer for unaccrued wages already received in days and/or hours of holiday leave.






	4.	 	Sickness





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	 	 	 	In the event of sickness, the Employer shall pay
to the Employee from the first day of sickness
100% of the Salary up to a maximum of 52 weeks and 70% of the Salary up to a maximum of
52 weeks as from the 53d week of sickness, all
this with due regard of the illness and sick leave
code as stipulated in the Manual.






	5.	 	Confidentiality, side activities and competition law






	 	5.1	 	The Employee shall observe strict confidentiality
towards third parties, whether directly or
indirectly, in any form whatsoever, including the
Employer’s personnel, both during the term of the Agreement
and after termination thereof, concerning all knowledge acquired
during the execution of his job in connection
with the affairs and interests of the Employer
and/or the companies affiliated with the
Employer, unless he is required to disclose such
information to third parties by law. This
obligation to maintain confidentiality also includes all
information acquired from customers or other contacts of
the Employer during the tenure as an Employee.
	 
	 	5.2	 	Unless the Employee has the Employer’s prior
consent in writing, during the term of the
Agreement the Employee may not carry out any
remunerated or time consuming non remunerated activities or establish a
business competing with Employer’s business or participate
in the running of such a business or have
such a business run for him in any form whatsoever,
either directly or indirectly, or have an
interest of any kind whatsoever in such a
business or work in or for such a business in
any way whatsoever.
	 
	 	5.3	 	The Employee has received and reviewed the Employer’s
Antitrust and Competition Law Compliance Guidelines 2008 and
agrees to abide by these guidelines in every
regard. The Employee is aware that violation of these
guidelines will result in disciplinary sanctions. The Employee acknowledges that
questions or concerns regarding antitrust and competition
law should be directed to the Employer’s Law
Department.






	6.	 	Miscellaneous






	 	6.1	 	The Employee will carry out the Employer’s
instructions and comply with all reasonable written
internal rules made known to the Employee throughout
the duration of the Agreement. These internal
rules include but are not limited to the Manual, a copy of which has been provided to the Employee.
	 
	 	6.2	 	The Employer is entitled to amend the terms and conditions of
the Agreement and the internal rules unilaterally, as is
laid down in article 7:613 of the Dutch Civil
Code.
	 
	 	6.3	 	No Collective Labour Agreement (CAO) is applicable to
the Agreement.





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	 	6.4	 	The Agreement is subject to Dutch Law. Disputes
resulting from the Agreement will
be directed towards the appropriate Dutch Court of Law.
	 
	 	6.5	 	By signing the Agreement, the Employee states that he
has received a copy, is familiar
with its content and agrees to abide by said
rules.





Drawn up
in duplicate in Almere, on 27 November 2008



	 	 	 	 	 
	The Employer
	 	The Employee	 	 
	 
	Date: 27 November 2008
	 	Date:	 	 
	 
	Location: Almere
	 	Location:	 	/s/ Dick Stuyfzand





/s/
Kees Verhaar

Kees Verhaar

President & Chief Executive Officer


/s/
David Cowfer

David Cowfer

Vice President Human Resources & Communications


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