Document:

HEB-2015.06.30-EX 10.4 EmergeAlferon-Redacted

Redacted Version
Sales, Marketing, Distribution, and Supply Agreement 
WHEREAS HEMISPHERX is a biopharmaceutical company with headquarters at One Penn Center, 1617 JFK Boulevard, Suite 500, Philadelphia, PA 19103, U.S. ("HEMISPHERX") and Emerge Health Pty Ltd. is a pharmaceutical company with its primary offices located at Suite 3, Level 1, 2 Theatre Place, Canterbury VIC 3126, Australia (" EMERGE”), each a “Party” together, “Parties” and
WHEREAS HEMISPHERX owns intellectual proprietary rights relating to Alferon N Injection ® [Interferon alfa-n3 (human leukocyte derived)] Alferon and
WHEREAS HEMISPHERX desires to have Alferon provided to physicians treating genital warts and other infections and diseases to which patients in Australia and New Zealand have become refractory to recombinant interferon prior to regulatory approval and to have Alferon approved by the Australian regulatory authority, Therapeutic Goods Administration (“TGA”) and New Zealand’s Medicines and Medical Devices Safety Authority (“Medsafe”)
WHEREAS HEMISPHERX presently has no registered company or subsidiary in Australia or New Zealand and
WHEREAS EMERGE has sales, marketing, distribution capabilities in Australia and New Zealand and
WHEREAS EMERGE has the ability to supply Alferon in Australia and New Zealand prior to approval by TGA and Medsafe in accordance with Australia’s Special Access Scheme (“SAS”) and New Zealand’s Section 29 of the Medicines Act (“Section 29”) and to seek to gain TGA and Medsafe approval of Alferon and subsequently to sell market and distribute Alferon in Australia and New Zealand and
WHEREAS, EMERGE desires to supply Alferon under Australia’s SAS and New Zealand’s Section 29 and to seek approval of Alferon from TGA and Medsafe to subsequently sell market and distribute Alferon in Australia and New Zealand and
WHEREAS, HEMISPHERX desires to supply and sell Alferon to EMERGE, and EMERGE is willing to purchase Alferon from HEMISPHERX
NOW THEREFORE, in consideration of the mutual covenants and agreements made herein, and for other good and valuable consideration, the receipt of which is hereby acknowledged, the Parties agree as follows:
I.    DEFINITIONS
"Affiliate"  means  any  corporation  or  other  business  entity,  which  controls,  is controlled by, or is under the common control of a Party.
"Alferon N Injection (“Alferon”) means an injectable formulation of Interferon Alfa-N3 (Human Leukocyte Derived)
"Alferon Data" means all data possessed by HEMISPHERX relating to the use of Alferon to treat patients in the Field and which is needed to obtain regulatory approval in the Territory. "Alferon Unit" means 1 x1ml vial containing 5 million international units (I.U.) of Alferon.
"End User" means a physician, medical facility or institution, or government agency that purchases Alferon with the intent of administering it to a patient.
"Field" means Refractory/ Recurrent Genital Warts and Recombinant Interferon Refractory. 
"HEMISPHERX   Intellectual   Property"   means   all   HEMISPHERX   patents, patent applications, know-how, and trademarks owned or controlled by HEMISPHERX up to the termination or expiration of this Agreement.
"Refractory/ Recurrent Genital Warts” means genital warts which do not or have not responded to previous treatments. 
The “Recombinant Interferon Refractory” means any patient who no longer responds positively to a recombinant interferon.
"Sales Price" means the price EMERGE and/or its Affiliates charge an End User for an Alferon Unit.
"Territory" means Australia and New Zealand.
“Transfer Price” means the price charged by HEMISPHERX to EMERGE for an Alferon Unit.
II.    LICENSE 
A.    HEMISPHERX hereby grants EMERGE the exclusive license to sell, market, and distribute Alferon for use in the Field in the Territory.
B.    EMERGE shall not use HEMISPHERX Intellectual Property nor sell nor permit the sale of any products that use the HEMISPHERX Intellectual Property outside the Territory or knowingly sell or have sold any products that use the HEMISPHERX Intellectual Property to any party in or outside the Territory for export or sale outside the Territory, without HEMISPHERX's prior written consent.
C.     EMERGE will have 24 months to gain TGA and Medsafe approval of Alferon from the date of submission and assuming that HEMISPHERX has provided all the appropriate documentation and technical/medical support in a timely fashion to assist with the Registration otherwise the license can be terminated by HEMISPHERX (without penalty or payment) or HEMISPHERX can extend the period for approval.
Ill.    COMMERCIAL DEVELOPMENT
A.     HEMISPHERX will provide EMERGE:
1.    A CTD dossier for Alferon which will assist EMERGE in attaining regulatory approval in the Territory. EMERGE will keep a record of each person in EMERGE to see any part of the dossier and will provide this record to HEMISPHERX. EMERGE will not allow anyone outside EMERGE to view the dossier or any part thereof without HEMISPHERX written permission.
2.    All the appropriate information about Alferon that will assist with the promotion of Alferon in the Territory.
3.    Market place information from overseas on successful strategies and tactics that can be utilized in the Territory.
4.    Ongoing scientific and medical support.
5.    Alferon Units in quantities sufficient for EMERGE's commercial needs in the Territory.
B.    EMERGE will:
1.    Within 90 days after execution of this Agreement, prepare and provide a Business Plan, under Australia’s SAS and New Zealand’s Section 29, to be provided and attached to this Agreement as Exhibit 1, to make aware and educate physicians and patients about Alferon. 
2.    Assist in determining reimbursable End User pricing of Alferon and gain reimbursement for Alferon under SAS and Section 29 and post approval of Alferon in the Territory.
3.    Assist physicians who desire to administer Alferon to their patients with the required paperwork under Australia’s SAS and New Zealand’s Section 29.
4.    Manage the cold chain logistics within the Territory from arrival to End user supply.
5.    Register Alferon as an orphan drug in the Territory. 
6.    Be the sponsor, hold the product registration, and maintain all regulatory requirements as the sponsor in the Territory until HEMISPHERX establishes an Australian entity whereupon EMERGE will fully cooperative in transferring sponsorship and product registration to the HEMISPHERX Australian entity.
7.    Prepare and provide a 3-year post regulatory approval Sales, Marketing, and Distribution Plan including a 3-year minimum sale forecast and a committed dollar field sales force, product manager and marketing budget to be agreed by both Parties and a non-binding 12 month Product forecast no later than six (6) months prior to the anticipated registration and subsequent launch date, also to be agreed by both parties,
8.    Pay for all the above activities and related expenses.
9.    Hold 3 months inventory of the forecasted sales at all times. 
10.    Assist in recruiting clinical trial sites and principal investigators.
11.    Provide HEMISPHERX a monthly written report of EMERGE's efforts and status thereof under this Agreement.
IV.    SUPPLY
		
	A.
	Subject to the terms and conditions of this Agreement, HEMISPHERX agrees to exclusively supply Alferon to EMERGE with a minimum expiry for stock of 24 months at the date of shipment arrival.

		
	B.
	EMERGE shall pay manufacturer for each order of Alferon within 45 days after receipt of the goods except for the for first purchase order, which will be paid in advance of the order being delivered. All purchase orders are final.

		
	C.
	HEMISPHERX will supply Alferon to EMERGE at a Transfer Price of US${***} with a targeted sale price of US${***}/Unit.   However, the Parties agree that a pricing/value assessment by Emerge may result in the Transfer Price and targeted sales price being lowered or increased  provided the parties mutually agree in writing.

		
	D.
	EMERGE will ensure all necessary QA testing / approval for use occurs in the Territory and that Alferon is stored under the conditions stipulated in a Quality Agreement (QA) to be executed and appended to this Agreement as Exhibit 2.

E.    Forecasts, Orders, Payment, and Delivery.

Unapproved Setting
Following the signing of this Agreement, EMERGE will start a full and comprehensive market analysis of the potential of Alferon in an unapproved setting. This will be from a market potential and willingness to pay point of view and will be completed within 3months of the signature of this Agreement. Forecasts will then be provided for Alferon as an unapproved medicine and this data will be added as a supplement to the Business Plan (Exhibit 1). 
Approved Setting 
Six (6) months prior to the approval of Alferon in the Territory:
1.     EMERGE will provide HEMISPHERX a rolling 12-month forecast of the estimated sales of Alferon Units, the first 3 months of which will be firm and the second three (3) months of which cannot vary by more than 25% when these become the first three (3) months. This forecast will be updated at 3-month intervals thereafter.
2.     In accordance with this forecast, EMERGE agrees to order Alferon from HEMISPHERX under this Agreement by submitting to HEMISPHERX written purchase orders specifying the quantity, packaging, delivery dates, and delivery location.
3.     HEMISPHERX shall manufacture Alferon as described in the purchase order from EMERGE and HEMISPHERX shall make all shipments to the location specified on EMERGE's purchase order as follows:
      (a) Delivery of Products is INCOTERMS 2010, CIP. The risk of loss or damage               in transit shall be upon HEMISPHERX.
                    (b) Hemispherx shall pack, mark and ship Alferon in accordance with               temperature thermometer specifications as clearly set out in the QA Agreement.           Hemispherx shall package Alferon so as to prevent damage or deterioration      
                    and shall comply with all applicable temperature and packaging laws. 

4.     Unless otherwise stipulated, Alferon shall be packaged, marked, crated and otherwise prepared in accordance with HEMISPHERX's current packaging and crating practices, and good commercial practices.

5.     EMERGE will prominently display on all Alferon it sells the Alferon trademark, which shall remain the sole property of HEMISPHERX and be so noted and on a visible surface thereof and/or on tags, labels, manuals, and other materials with which Alferon is sold, the fact that the Alferon is manufactured and supplied to EMERGE by HEMISPHERX for sale in the Territory shall be clearly displayed.
		
	F.
	If, for any reason, at any time, HEMISPHERX shall be unable, or should reasonably anticipate being unable to deliver any part or all of the ordered Alferon in accordance with the terms hereof or the accompanying purchase order, HEMISPHERX shall notify EMERGE of such inability at the earliest possible time (but no later than five (5) workings after HEMISPHERX becomes aware of this their inability to supply Alferon), whereupon HEMISPHERX and EMERGE will devise a plan to manage the situation.

		
	G. 
	HEMISPHERX warrants that the Alferon (i) shall conform to the specifications set out in the EMERGE purchase order for Alferon and (ii) shall meet all, if any, reasonably applicable regulatory requirements in the Territory once Alferon is Registered. In the unapproved setting, the Alferon that HEMISPHERX supplies must confirm with all manufacturing and regulatory requirements (including labelling) for the country in which Alferon is approved in and was intended to be sold.  EMERGE's acceptance of the Alferon shall relieve HEMISPHERX from the obligations arising from this warranty

		
	H. 
	EMERGE shall have the right to return and demand replacement of any Alferon which violates this warranty.

		
	I. 
	HEMISPHERX and/or EMERGE shall have the right to cancel, without further obligation to the other party, one or more orders for Alferon if HEMISPHERX's or EMERGE's business is interrupted because of an event of force majeure beyond the control of HEMISPHERX or EMERGE. 

		
	J. 
	HEMISPHERX shall permit EMERGE or its agent, at EMERGEs' expense, to conduct periodic audits of HEMISPHERX's Quality System and Manufacturing records relating to HEMISPHERX's performance under this Agreement. The audits shall be conducted upon reasonable advance notice during regular business hours at HEMISPHERX's principal office and in such a manner as not to unduly interfere with HEMISPHERX's operations.

		
	K. 
	EMERGE will provide HEMISPHERX with copies of product specification sheets, product inserts, user manuals, user bulletins, and user product updates and any other customer materials such as brochures, educational materials, web pages or other electronic information relating to EMERGE's efforts to sell, market and distribute Alferon under this Agreement at least 10 (ten) days prior to the public release or use of such information. 

V.    REPORTS AND PAYMENTS
		
	A. 
	Within 30 days following the end of each calendar quarter after execution of the Agreement, EMERGE will provide HEMISPHERX with quarterly reports on the number of Alferon Units sold and the Sales Price during the preceding three months, key market place issues and successes, regulatory and reimbursement subjects and revisions to the sales and marketing plans. 

		
	B. 
	Alferon will be considered sold by EMERGE on the date it is shipped or invoiced to an End User, whichever is earlier. All shipping, taxes, duties and other expenses in the Territory is the responsibility of EMERGE.

		
	C.
	Price Increase: Beginning on the second year anniversary of the signing of this Agreement (“Effective Date”) and on each succeeding anniversary of the Effective Date during the term of this agreement and in consideration of a varies of economic factors such as for example, costs of labour, costs of material and costs the price paid by Emerge for Alferon shall be renegotiated. Any price increase will need to be justified by HEMISPHERX. Both parties shall, in good faith, attempt to agree upon a reasonable price increase. In the event agreement cannot be reached the agreement shall terminate.

		
	D. 
	All payments hereunder will be made by EMERGE in United States Dollars by wire transfer of immediately available funds to an account designated by HEMISPHERX. The following is wire transfer information:

{***}

To manage a possible variation of the USD/AUD exchange rate (the “Exchange Rate”), EMERGE and HEMISPHERX will conduct a review of the evolution of the Exchange Rate over every six-month period (the “Exchange Rate Review”), within 30 days following the end of each such six-month period. 
If the average Exchange Rate taken from the Reserve Bank of Australia (https//www.rba.gov.au/statistics/hist-exchange-rates/) during the previous six-month period (the “Average Exchange Rate”) varies by more than 10% (upwards or downwards) as compared to the Exchange Rate applied by the Parties under this Agreement during the same period, the Purchase Price will be adjusted accordingly to ensure that the EMERGE’s and HEMISPHERX’s margin as per the pricing provided under Clause IV. C. of this Agreement are maintained. The corresponding adjustment, calculated on the basis of the sales invoiced to the EMERGE in the corresponding six-month period, will be invoiced within 45 days following the end of the corresponding six-month period.  
VI.    TERM/TERMINATION
		
	A. 
	The Term will be 5 years from Effective Date with an automatic 2 year term extensions unless otherwise advised by one of the Parties. 

B.     Termination for breach will include:
		
	1.
	 Failure of EMERGE achieving less than 50% achievement of the minimum sales as in III B.7. for two (2) consecutive years, 

2.     Insolvency, or the filing for protection under either Parties’ bankruptcy laws.  Upon the filing of a petition in bankruptcy, insolvency or reorganization against or by either Party, or either Party becoming subject to a composition for creditors , whether by law or agreement, or either party going into receivership or otherwise becoming insolvent (such party hereinafter referred to as the "insolvent party"), this Agreement may be terminated by the other Party by giving written notice of termination to the insolvent Party, such termination immediately effective upon the giving of such notice of termination.
		
	C. 
	 Upon the occurrence of a breach or default as to any obligation hereunder by either Party and the failure of the breaching Party to cure (within thirty (30) days after receiving written notice thereof from the non-breaching Party) such breach or default, this Agreement may be terminated by the non- breaching Party by giving written notice of termination to the breaching Party, such termination being immediately effective upon the giving of such notice of termination.

		
	D. 
	 In the event this Agreement is terminated by either Party for any reason whatsoever, HEMISPHERX agrees to reasonable efforts to make Alferon available to EMERGE for a period of six (6) months after the termination date at the same Transfer Price and under the same terms of payment.

		
	E. 
	In the event of termination of this Agreement, EMERGE will have the right to complete all contracts for the sale or disposition of Alferon under which EMERGE is obligated on the date of termination, provided EMERGE pays the associated Transfer Price and provided all such sales or dispositions are completed within six (6) months after the date of termination. Thereafter, HEMISPHERX shall purchase from the EMERGE all remaining stock of Alferon that is of merchantable quality at the same price as was paid by EMERGE.

VII.    ASSIGNMENT
Neither this Agreement nor any rights or obligations or licenses hereunder may be assigned, pledged, transferred or encumbered by either party without the express prior written approval of the other party, except that either HEMISPHERX or EMERGE may assign this Agreement to any successor by merger or sale of substantially all of its business or assets to which this Agreement pertains, without any such consent. Any assignment in violation hereof is void.
VIII.    AUTHORITY
EMERGE and HEMISPHERX each warrant and represent that it has the full right and power to make the promises set forth in this Agreement and that there are no outstanding agreements, assignments, or encumbrances inconsistent with the provisions of this Agreement.
IX.    EXCEPT AS EXPRESSLY SET FORTH IN THIS SECTION IX, HEMISPHERX MAKES NO REPRESENTATIONS OR WARRANTIES OF ANY KIND, EITHER EXPRESSED  OR IMPLIED, REGARDING THE DEVELOPMENT, VIABILITY, COMMERCIAL OR OTHER USEFULNESS OR SUCCESS OF ALFERON AND THAT NO WARRANTY OR REPRESENTATION THAT ANYTHING MADE, USED, SOLD OR OTHERWISE PRACTICED OR ANY SERVICE PROVIDED UNDER THIS AGREEMENT WILL NOT INFRINGE ANY PATENT, COPYRIGHT, TRADE SECRET, OR OTHER PROPRIETARY RIGHT, FOREIGN OR DOMESTIC, OF ANY THIRD PARTY AND MAKES NO WARRANTIES OR REPRESENTATIONS AS TO THE VALIDITY, ENFORCEABILITY OR SCOPE OF ANY HEMISPHERX INTELLECTUAL PROPERTY.
X.    INDEMNIFICATION AND WARRANTIES
A.     INDEMNIFICATION 
EMERGE and HEMISPHERX (each an "Indemnifying Party") shall indemnify, defend and hold harmless and the other Party's subsidiaries or affiliates, their agents, directors, officers, employees and assigns (the "Indemnified Parties") from and against all losses, liabilities, damages, demands and expenses (including reasonable attorneys' fees and expenses) arising out of, as a result of, or in connection with (i) the negligent actions of the Indemnifying Party, its employees or any third party acting on behalf of or under authority of the Indemnifying Party in the performance of this Agreement and/or (ii) the violation of any representation or warranty of Indemnifying Party in this Agreement. Each Party's obligations under this provision shall be subject to the other Party providing reasonable notice of any such claim. Each Party shall defend with competent counsel and pay all costs of defence, including attorneys' fees, and any and all damages and court costs awarded in respect to such claim, action or proceeding regarding the claim of infringement. The Indemnified Parties agree to permit the Indemnifying Party to defend, compromise, or settle any such claim, action or proceeding and further agree to provide all available information, and reasonable assistance to enable the other Indemnifying Party to do so. However, neither party will be liable under this indemnity for any losses, liabilities, damages, demands or expenses arising out of the gross negligence or wilful misconduct of the other party or any of its affiliates, agents, directors, officers, employees or assigns. Limitation of Liability. IN NO EVENT WILL EITHER PARTY BE LIABLE FOR ANY INCIDENTAL, SPECIAL OR CONSEQUENTIAL DAMAGES RESULTING FROM THE LICENSE GRANTED PURSUANT TO THIS AGREEMENT OR THE USE OR COMMERCIAL DEVELOPMENT OF ALFERON.
B.     WARRANTIES 
Subject as herein provided HEMISPHERX warrants to EMERGE that:

		
	•
	All Products supplied hereunder will comply with the Dossier and with any specification agreed for them in the Quality Agreement;

		
	•
	It is not aware of any rights of any third party in the Territory which would or might render the sale of the Products, or the use of any of the Trademarks on or in relation to the Products, unlawful;

		
	•
	It is the owner or the permitted licensee of all Intellectual Property Rights and it is not aware of any claims of any third party in the Territory or worldwide related to the fact that the Products infringes any intellectual property of such third party.

		
	•
	Nothing in this Agreement shall exclude either party’s liability for death or personal injury.

Subject to the above WARRANTIEs, HEMISPHERX shall indemnify and hold harmless EMERGE and its respective employees from any loss, damage or claim made by a third party in respect of (i) the death or personal injury arising from the manufacture or use of the Products in the Territory or (ii) infringement of third party intellectual property, if and to the extent such loss, damage or claim is caused by any act or omission of HEMISPHERX and is not attributable directly or indirectly to the breach of any of the material terms of this Agreement by EMERGE or by any wilful default or negligent act or omission of EMERGE, its employees or its agents.

1.      The indemnity given by HEMISPHERX shall be subject to the following conditions:

		
	•
	No indemnity shall be claimed unless notice is given by EMERGE claiming the indemnity to HEMISPHERX together with details of the claim promptly on notice of such claim being received by the EMERGE;

		
	•
	No admissions of liability or compromise or offer of settlement of any claim shall be made by EMERGE without the prior written consent of HEMISPHERX; and

		
	•
	HEMISPHERX shall have full control over any claim, proceedings or settlement negotiations in respect of which it is providing the indemnity.

Subject to clause X.B 1.), EMERGE shall defend and indemnify HEMISPHERX and its Affiliates and hold each of them harmless against all claims, demands, actions, losses, expenses, damages, liabilities, costs (including interest, penalties and reasonable attorneys' fees) and judgements suffered by each of them, which arise out of EMERGE’s negligent or wilful acts or omissions or which otherwise arise out of EMERGE’s breach of the Agreement. 

Survivability. The obligations set forth in this Section X. shall survive the termination of this Agreement for the legal periods of limitation provided by US law.

XI.    CONFIDENTIALITY
		
	A. 
	 EMERGE  and  HEMISPHERX  agree  to  keep  secret  and  confidential  all confidential, proprietary or non-public information ("Confidential Information") of the other Party .This provision shall survive termination  or expiration  of this Agreement.

		
	B. 
	Such Confidential Information will be kept confidential until 5 years after the expiration of termination of this Agreement.  Notwithstanding the foregoing , Confidential Information of a Party shall not include information which the other Party can establish by written documentation was (a) to have been publicly known prior to disclosure of such information by the disclosing Party to the other Party, (b) to have become publicly known, without fault on the part of the other Party, subsequent to disclosure of such information by the disclosing Party to the other Party , (c) to have been received by the other Party at any time from a source , other than the disclosing Party , rightfully having possession of and the right to disclose such information, (d) to have been otherwise known by the other Party prior to disclosure of such information by the disclosing Party to the other Party, or (e) to have been independently developed by employees or agents of the other Party without access to or use of such information disclosed by the disclosing Party to the other Party.

		
	C. 
	The confidentiality obligations contained in this section XI shall not apply to the extent that the receiving Party (the "Recipient") is required (a) to disclose information by law, order or regulation of a governmental agency or a court of competent jurisdiction , or (b) to disclose information to any governmental agency for purposes of obtaining approval to test or market a Product , provided in either case that the Recipient shall provide written notice thereof to the other Party and sufficient opportunity to object to any such disclosure or to request confidential treatment thereof.

XII.    PROSECUTION, INFRINGEMENT, AND DEFENSE OF HEMISPHERX INTELLECTUAL PROPERTY
		
	A.
	HEMISPHERX will be responsible for and shall control, at its expense, the preparation, filing, prosecution and maintenance of HEMISPHERX Intellectual Property.

		
	B.
	EMERGE will cooperate in all reasonable ways to establish and protect HEMISPHERX Intellectual Property in the Territory.

		
	C.
	HEMISPHERX, at its expense, will have the right to determine the appropriate course of action to enforce its HEMISPHERX Intellectual Property against infringement or otherwise abate the infringement thereof , to take (or refrain from taking) appropriate action to enforce its HEMISPHERX Intellectual Property, to control any litigation or other enforcement action and to enter into, or permit, the settlement of any such litigation or other enforcement action with respect to its Intellectual Property .

		
	D.
	Each Party shall promptly notify the other Party in writing if any claim, action, demand or other proceeding (a "Claim") is brought against or is threatened to be brought against such Party alleging that the sale of Alferon violates another party's intellectual property.

		
	E.
	EMERGE will promptly notify HEMISPHERX of any Third party EMERGE knows or believes may be infringing HEMISPHERX Intellectual Property and will, to the greatest extent reasonably possible, provide to HEMISPHERX any information EMERGE has in support of such belief. HEMISPHERX will have the right, but not the obligation, to use such information in an infringement action against such third Party. EMERGE agrees to cooperate with HEMISPHERX in any action for infringement of HEMISPHERX, and HEMISPHERX will reimburse EMERGE for all reasonable costs incurred by it in providing cooperation requested by HEMISPHERX.

F.    HEMISPHERX is the sole legal and registered owner of "Alferon® ".
		
	G.
	HEMISPHERX hereby grants to EMERGE and EMERGE hereby accepts the right, privilege and exclusive license to use "Alferon®" solely in connection with the terms of the Sales, Marketing, Distribution and Supply Agreement of Alferon in the Territory for the Term of this Agreement. Should the Agreement expire or terminate, the right to use the trademark shall also terminate. EMERGE shall use Alferon at all times for the sole purpose of marketing Alferon and for no other purpose.

		
	H.
	The terms of the intellectual property license hereby granted shall be effective upon the Effective Date of this Agreement and during the term of this Agreement, unless sooner terminated in accordance with the provisions of the Sales, Marketing, Distribution and Supply Agreement between the parties.

1.    Good Will. EMERGE recognizes that there exists great value and good will associated with the Trademark and Intellectual Property use of "Alferon®".
2.     EMERGE agrees that it will not during the term of this Agreement, or thereafter, attack the title or any rights of HEMISPHERX in and to “Alferon®" or attack the validity of the license granted herein by HEMISPHERX and solely owned by HEMISPHERX.
		
	I. 
	EMERGE agrees to assist HEMISPHERX to the extent necessary in the procurement of any protection or to protect any of HEMISPHERX's right to “Alferon®" and HEMISPHERX, if it so desires, may commence or prosecute any claims or suits in its own name or in the name of EMERGE or join EMERGE as a party thereto. EMERGE shall notify HEMISPHERX in writing of any infringements or imitations by others of “Alferon®" which may come to EMERGE 's attention, and HEMISPHERX shall have the sole right to determine whether or not any action shall be taken on account of any such infringements or imitations. EMERGE shall not institute any suit or take any action on account of any such infringements or imitation without first obtaining the written consent of the HEMISPHERX so to do.

		
	J.
	EMERGE agrees to cooperate fully and in good faith with HEMISPHERX for the purpose of securing and preserving HEMISPHERX's rights.

K.    It is agreed that nothing contained in this Sales, Marketing, Distribution, and Supply     Agreement shall be construed as an assignment or grant to the EMERGE of any rights, title or     interest in or to "Alferon® ".
		
	L. 
	It is further understood that all rights relating thereto are reserved by HEMISPHERX, except for the license hereunder to EMERGE of the right to use and utilize the name Alferon only as specifically and expressly provided in this Agreement.

		
	M.
	In the event of termination of this license for any reason, EMERGE shall within 6months (as described in the Termination clause), cease all use of the "Alferon®". EMERGE shall not thereafter use any names, mark or trade name similar thereto belonging to HEMISPHERX. Termination of the license under the provisions of this Agreement shall be without prejudice to any rights which HEMISPHERX may otherwise have against EMERGE.

		
	N. 
	EMERGE  shall, and shall cause its shareholders, officers, directors, and managing personnel to, comply with all laws, rules and government regulations pertaining to its business and shall not violate any laws which would create an adverse effect on the “Alferon®" in the U.S. and/or the Territory.

		
	O.
	Relationship of Parties. EMERGE shall not in any manner or respect be the legal representative or agent of HEMISPHERX and shall not enter into or create any contracts, Agreements, or obligations on the part of HEMISPHERX, either expressed or implied, nor bind HEMISPHERX in any manner or respect whatsoever regarding its intellectual property; it being understood that this Agreement is only a contract for the licensed use of the product names in connection with the terms in this Agreement.

XIII.    BUYOUT
HEMISPHERX will have the option at any time to buy out this Agreement. If exercised within the first two (2) years HEMISPHERX will pay EMERGE three (3) times the Alferon sales for the preceding 12 months. If exercised after year 3, HEMISPHERX will pay EMERGE two (2) times the Alferon sales for the preceding 12 months. 
XIV.    MISCELLANEOUS.
		
	A.
	Notices. Notices sent pursuant to this Agreement are valid if in writing and addressed to the parties at the respective addresses given below or at such other addresses as either party shall notify the other in writing and sent by registered or certified mail, postage prepaid and return receipt requested, or by Federal Express or other comparable courier providing proof of delivery, and shall be deemed duly given and received (i) if mailed, on the third business day following the mailing thereof, or (ii) if sent by courier, the date of its receipt (or if not on a business day, the next succeeding business day).

If to HEMISPHERX:
William Carter, MD, Chairman and CEO 
One Penn Center
1617 JFK Boulevard
Suite 500
Philadelphia, PA 19103 United States

If to EMERGE:
Chris Rossidis, Head of Commercial Operations
Suite 3, Level 1
2 Theatre Place, 
Canterbury VIC 3126, Australia
		
	B.
	This Agreement and the transactions contemplated herein shall be governed by, and construed in accordance with, the laws of the State of Delaware, USA and disputes, if not resolved by the Parties, will be settled by binding arbitration in and under the rules of arbitration in London, England.

		
	C.
	This Agreement constitutes the entire understanding of the parties with respect to the purchase and sale of Alferon and supersedes all prior discussions, agreements, and understandings between HEMISPHERX and EMERGE.

		
	D.
	Each party an independent contractor to the other and the relationship between the parties shall not be construed to be that of an employer and employee, or to constitute a partnership, joint venture, or agency of any kind.

E.    This Agreement may only be amended in a writing signed by both parties hereto.
		
	F.
	If any provision of this Agreement is declared invalid or unenforceable by a court having competent jurisdiction, it is mutually agreed that this Agreement shall endure except for the part declared invalid or unenforceable by order of such court.

		
	G.
	This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

		
	H.
	Prior to their release, the parties must agree on press releases or market communication that utilises the other Party’s name.

Counterparts; Integration; Effectiveness; Electronic Execution
This Agreement may be executed in counterparts (and by different parties hereto in different counterparts}, each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This Agreement constitutes the entire contract among the parties relating to the subject matter hereof and supersede any and all previous agreements and understandings, oral or written, relating to the subject matter hereof.
This Agreement shall become effective when it shall have been executed by all parties and upon receipt of all counterparts hereof that, when taken together, bear the signatures of each of the other parties hereto. Delivery of an executed counterpart of a signature page of this Agreement by e-mail and/or telecopy shall be effective as delivery of a manually executed counterpart of this Agreement.
The words "execution," "signed," "signature," and words of like shall be deemed to include electronic signatures or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and  National Commerce Act, and any other similar State laws based on the Uniform Electronic Transactions Act.
IN WITNESS WHEREOF, the parties have executed this Agreement as of the date written above.

EMERGE HEALTH PTY LTD:                      HEMISPHERX BIOPHARMA, INC:                    

s/Chris Rossidis                    s/William Carter
Chris Rossidis                     William Carter, MD
Head of Commercial Operations         Chairman and CEO 

Date:                         Date: 
3 August 2015                    August 6, 2015
                        
        
Exhibit 1
(Full Business plan is to be completed by Emerge Health and sent to Hemispherx 90 days post signing of the main agreement – see page 2 of the Sales, Marketing, Supply & Distribution Agreement, clause III. B.) {***}

"Specialised Medicines for Life"

Alferon® Overview Australia and New Zealand

Exhibit 2
TECHNICAL / QUALITY AGREEMENT 

		
	1.
	Parties

This Quality Agreement is entered by and between Emerge Health Pty Ltd., a pharmaceutical company with its primary offices located at Suite 3, Level 1, 2 Theatre Place, Canterbury VIC 3126, Australia  (“COMPANY”) and Hemispherx Biopharma, Inc. 783 Jersey Avenue, New Brunswick, New Jersey 08901(HEB).

		
	2.
	Purpose

The purpose of this Quality Agreement is to clearly define the quality operating procedures, duties and responsibilities to be employed by COMPANY and HEB in the conduct of activities by COMPANY for Hemispherx Biopharma, Inc.  The objective of these procedures and this Quality Agreement is assurance that services are conducted in a timely, consistent and uniform manner and in accordance with current laws, directives, regulations and guidelines, as may be applicable to the specific project(s).  These requirements may include those defined by the U.S. FDA’s regulations At 21CFR314.80 (Post-marketing reporting of adverse drug experiences for drugs), 21CFR312.32 (IND safety reporting) 21CFR600.80 (Post marketing reporting of adverse experiences for biologics) 21CFR Parts 210 and 211 (“current Good Manufacturing Practices” or “cGMPs”) with particular interest in 21CFR211.1.42 (Warehousing), 21CFR211.150 (Distribution), 21CFR211.204 (Returned drug) and 21CFR211.208 (Drug product salvaging) and/or others that may be appropriate for the particular project. 

3.    Scope

This Quality Agreement is to be applied to the activities performed by COMPANY, for HEB as specifically defined by the Sales, Marketing, Distribution, and Supply Agreement July (“Agreement”) to which this Quality Agreement is an integral Exhibit.  In the event of a conflict between the terms of the Agreement and this Quality Agreement, the terms of the Agreement shall control.  Unless otherwise stated in these documents, COMPANY shall follow its Standard Operating Procedures (“SOPs”) with respect to the activities it shall carry out in accordance with the Agreement. Copies of all relevant SOPs shall be provided to HEB for review during audits.

4.    Confidentiality

The information and procedures contained in this Quality Agreement are confidential and subject to the terms and conditions of the confidentiality provisions as set forth in the Confidential Disclosure Agreement September 22, 2014  (“CDA”) executed by HEB and COMPANY.

5.    Terms  

This Agreement between HEB and COMPANY shall be in effect beginning the last date of execution set forth on the signature page to the  Agreement (the “Effective Date”) to which this Quality Agreement is Exhibit 2 and remain in effect until HEB and COMPANY terminate the Agreement or it is superseded by a revised Quality Agreement executed by both parties.  This Quality Agreement should be reviewed periodically by both parties for any needed updating, revisions, amendments, and the like.  Regular periodic review of this Quality Agreement should be conducted to ensure it is up-to-date.  

HEB may perform audits for initial qualification of COMPANY as well as periodic audits and “for cause” audits.  At mutually agreed upon times, HEB may review standard operating and other quality control procedures and records and the records of COMPANY relating to the Agreement.  Such routine and general oversight review is to be requested at least twenty (20) business days in advance, limited to two (2) persons, completed within one (1) to two (2) business days and shall be offered to HEB one (1) time each calendar year.  COMPANY will make every reasonable effort to accommodate the special circumstances that may arise pursuant to “for cause” audits. The following applies to all audits: 

		
	•
	Prior to an audit HEB will communicate to COMPANY the scope of the audit.  

		
	•
	HEB will prepare a written report of the results of the audit and forward a copy to COMPANY. 

COMPANY will provide a written response to HEB’s written audit report within twenty (20) business days of receipt of such report setting forth the corrective actions to be taken by COMPANY, if any, and a timeline for such implementation.

In the event of an inspection by any governmental or regulatory authority concerning the activities carried out under the Agreement, COMPANY shall notify HEB promptly upon learning of such an inspection, shall supply HEB with copies of any correspondence or portions of correspondence relating to HEB’s materials and shall inform HEB of the general findings and outcomes of such inspections.    

COMPANY and HEB shall cooperate with each other during any such inspection, investigation or other inquiry, including applying reasonable effort, as might be practical, at allowing, upon reasonable request, a representative of HEB to be on site during such inspection, investigation or other inquiry, and providing copies of all documents related to the inspection. Each party acknowledges that it may not direct the manner in which the other party fulfills its obligations to permit inspection by governmental entities

6.    Dispute Resolution
If a dispute arises between the parties under this Agreement, the parties agree that, prior to either pursuing other available remedies, decision-making individuals from each party will promptly meet, either in person or by telephone, to attempt in good faith to negotiate a resolution of the dispute.  If, within sixty days after such meeting, the parties are unable to resolve the dispute (or such longer time as the parties may agree) either party is free to pursue its legal remedies.

7.    Definitions

Adverse experience:  Any adverse event associated with the use of a biological or drug product in humans, whether or not considered product related, including the following: an adverse event occurring in the course of the use of a biological or drug product in professional practice; an adverse event occurring from overdose of the product whether accidental or intentional; an adverse event occurring from abuse of the product; an adverse event occurring from withdrawal of the product; and any failure of expected pharmacological action.
Disability:  A substantial disruption of a person’s ability to conduct normal life functions.
Life-threatening adverse experience:  Any adverse experience that places the patient, in the view of the initial reporter, at immediate risk of death from the adverse experience as it occurred, i.e., it does not include an adverse experience that, had it occurred in a more severe form, might have caused death.
Labeled event:  An adverse experience that is listed on the product insert as having been observed in patients who are receiving the drug product.

Drug Product: A finished dosage form, for example, tablet, capsule, or solution that contains an active ingredient generally, but not necessarily, in association with inactive ingredients
Serious adverse experience:  Any adverse experience occurring at any dose that results in any of the following outcomes:  Death, a life-threatening adverse experience, inpatient hospitalization or prolongation of existing hospitalization, a persistent or significant disability/incapacity, or a congenital anomaly/birth defect.  Important medical events that may not result in death, be life-threatening, or require hospitalization may be considered a serious adverse experience when, based upon appropriate medical judgment, they may jeopardize the patient or subject and may require medical or surgical intervention to prevent one of the outcomes listed in this definition.

Unexpected adverse experience:  Any adverse experience that is not listed in the current labelling for the biological or drug product.  This includes events that may be symptomatically and pathophysiologically related to an event listed in the labelling, but differ from the event because of greater severity or specificity.  
For example, under this definition, hepatic necrosis would be unexpected (by virtue of greater severity) if the labeling only referred to elevated hepatic enzymes or hepatitis. Similarly, cerebral thromboembolism and cerebral vasculitis would be unexpected (by virtue of greater specificity) if the labeling only listed cerebral vascular accidents.  “Unexpected,” as used in this definition, refers to an adverse experience that has not been previously observed (i.e., included in the labeling) rather than from the perspective of such experience not being anticipated from the pharmacological properties of the pharmaceutical product.
Call report:  A list of all questions, requests for circulars, and physician/patient complaints received by COMPANY's Clinical Support Department is prepared monthly by COMPANY staff and is forwarded to HEB RA/QA Department.
Audit: A systematic examination of processes, controls and systems, operating procedures, reports, records and/or data to assess COMPANY’s compliance with standards, regulatory submissions, SOPs; applicable laws, regulations, directives, standards and guidelines; the terms of this Agreement and other contracts in place defining the services being provided and to verify data integrity.  

Good Manufacturing Practices (“GMPs”): The recognized pharmaceutical regulations and requirements of regulatory authorities such as those defined by the U.S. FDA’s regulations at 21CFR Parts 210 and 211.

Key Contacts:  Persons at COMPANY and HEB assigned to assure proper communication and follow-up in a timely manner within both parties’ organizations.  Names, titles and full contact information for Key Contacts shall be appended to this Agreement as Attachment 1 and should be maintained up-to-date during the course of the project.    

Observation: A statement of fact made during an audit that is substantiated by objective evidence.  HEB categorizes observations as follows: 

		
	◦
	Critical:  May pose risk to patient or consumer or otherwise compromise the integrity or quality of the material, product, process, or service being provided.  Other instances that could be defined as a critical observation include: A practice that poses an immediate safety risk to personnel; Quality System(s) missing or not in compliance with regulations, guidelines, or corporate policies. 

		
	◦
	Major:  Does not fully comply with regulations, guidelines or corporate policies and may pose unnecessary risks to the integrity or quality of material, product, process or service being provided.  Other instances that could be defined as a major observation include: Likely or probable safety risk to personnel; Quality System(s) weak or needing improvement; repeated Minor deficiencies of a similar nature that indicate a systemic problem and therefore may be classified as Major.  

		
	◦
	Minor:  Does not comply with regulations, guidelines, or corporate policies but does not directly impact the integrity or quality of the material, product, process, or service being provided.  

		
	◦
	Comment:  Compliant with regulations, guidelines and/or corporate policies; however, the auditor comment serves as a recommendation relative to maintaining or improving a specific condition noted.  

Out-of-Specification / Out-of-Trend (“OOS / “OOT”):  A result that is not within the established specifications or trend, whether these are qualitative or quantitative.

Standard Operating Procedures (“SOPs”): Procedures in effect at COMPANY that define the processes and controls by and under which activities are to be conducted to assure compliance with the appropriate Code of Federal Regulations.
7.    Communications

To assure proper communication, notification and follow-up in a timely manner by both parties, “Key” contacts are listed in Attachment 1 of this Agreement.  Key contacts shall have access to project managers and technical staff and, upon reasonable notice and as required, facilitate resolution of any issues.  Every effort will be made by COMPANY to accommodate timely communications, including face-to-face meetings, with HEB.  

8.    Change of Control 

COMPANY will maintain and follow change control SOP(s) to ensure that changes to equipment, procedures, processes, etc. occur in a controlled manner and in compliance with requirements e defined by the U.S. FDA’s regulations (see Section 2).  The implementation of any change that may directly impact the integrity of the activities conducted or data being supplied for HEB will require prior written approval of HEB.  COMPANY and HEB will advise the appropriate organization’s staff member (See Attachment 1) before implementation of a change, by either party, to equipment, procedures, specifications, processes, clinical protocols, product claims or facilities directly related to HEB’s specific products and processes.  Each party agrees to review the proposed change in a timely manner and, at its discretion, may audit and/or request an alternative or additional change prior to the implementation of the proposed change.  The respective party will review the proposed change, determine if it is reasonably practicable to implement the change and can suggest alternative or additional changes prior to the implementation of the proposed change.   Change control requirements should be articulated within the specific operation’s documentation practices. 
  
HEB is responsible for assuring changes are in accordance with and/or reported to the investigational, marketing and/or any other filing with regulatory agencies (IND, IMPD, CTA, NDA, MA, etc.) and for informing COMPANY of any changes requested by regulatory agencies.  COMPANY agrees to keep HEB fully informed of any and all communications with regulatory agencies that may affect the services being provided to HEB by COMPANY. 

This Agreement is not meant to supersede or replace controlled documents typically used to define and record the work to be conducted by COMPANY for HEB.  Specific requirements of this Agreement and/or any service contracts shall be articulated within COMPANY’s current operating procedures and documentation systems.      

9.    Responsibilities

COMPANY is responsible for:
		
	1)
	case management support services to patients and maintain a 24-hour/365-day a year telephone service for assistance of prescription drug-related medical emergencies to patients

		
	2)
	the distribution of product, including the shipping, handling and storage and all rules and regulations of every governmental authority having jurisdiction over the shipping, handling, storage, distribution, and dispensing of Product

		
	3)
	confirming the product labelling requirements in the territory

		
	4)
	conforming to all labeled specifications concerning the shipping, handling and storage of Product

		
	5)
	notifying HEB of any unacceptable storage or handling deviation within one (1) business day

		
	6)
	inspecting all product shipments received by COMPANY from HEB and reporting any damage, defect, loss in transit, or other shipping errors to HEB within one (1) business days of receipt by COMPANY

		
	7)
	administering recalls, field alerts, warning letters, quarantines or withdrawals in accordance with HEB instructions (See Attachment 2)

		
	8)
	administering HEB’s Returned Goods Policy (See Attachment 3)

		
	9)
	immediately notifying HEB of any serious and unexpected side effects (Adverse Experiences reported to COMPANY, as defined by 21CFR 34.80)) 

		
	10)
	providing HEB with written Adverse Experience Reports

		
	11)
	keeping HEB fully informed of any and all communications with regulatory agencies that may affect the services being provided to HEB by COMPANY

		
	12)
	receiving and processing complaints

		
	13)
	notifying HEB of complaints and actions taken or to be taken to address the complaints

		
	14)
	the performance of all services provided by COMPANY’s subcontractors

		
	15)
	communicating to HEB any events of non-conformance that impact the quality of HEB’s product.  Examples of non-conformances may include, but are not limited to:  equipment failure, shipping error or documentation error, labeling error, improper storage, facilities system error, and unplanned study protocol deviations.  When a non-conformance event occurs that is specific to HEB’s product, COMPANY will conduct an investigation and provide copies of all investigation documentation to HEB for review and input

		
	16)
	for initiating, monitoring and completing CAPA tasks related to discrepancies, errors and incidents involving services that are under COMPANY’s control

HEB is responsible for: 
		
	1)
	release of product following review of all manufacturing and quality control testing requirements to confirm the batch has been manufactured according to approved processes and specifications

		
	2)
	supply all necessary quality documentation with shipments to allow product importation and release

		
	3)
	ensuring product intended for supply in territory is labelled accordingly

		
	4)
	assuring changes to the established operations are in accordance with and/or reported to the investigational, marketing and/or any other filing with regulatory agencies (IND, IMPD, CTA, NDA, MA, etc.).

		
	5)
	informing COMPANY of any changes requested by regulatory agencies

		
	6)
	assist with/address any Agencies requests relating to manufacture of product

		
	7)
	providing COMPANY any information that could result in a field alert or recall of a product under a HEB NDA or ANDA immediately, but no more than one (1) business day after discovery. HEB interprets FDA 21 CFR 314.81, “Other Post-Marketing Reports,” to require a Field Alert Report to be made within three (3) days of an occurrence of an OOS result, whether that result is confirmed or not. The only exception to this would be where the original result was invalidated within the three (3) days. In that case, no field alert would be required

		
	8)
	making the proper reports to the FDA regarding a field alert or recall

		
	9)
	communicating to COMPANY any events of non-conformance that impact the quality of HEB’s product.  Examples of non-conformances may include, but are not limited to: contamination, calculation or documentation error, labeling error.   When a non-conformance event occurs HEB will conduct an investigation and inform COMPANY of any appropriate action to be taken

		
	10)
	for initiating, monitoring and completing CAPA tasks related to discrepancies, errors and incidents involving services that are under HEB’s control

		
	11)
	contribute to customer complaint investigations where possible issues due to manufacturing process may have contributed to complaint

HEB and COMPANY are separately responsible for securing and maintaining all required licenses, permits and certificates applicable to their respective operations and each shall comply with any and all applicable federal, state and local laws, including but not limited to (i) the Federal Food Drug and Cosmetic Act; (ii) the Social Security Act; (iii) HIPPAA; (iv) all federal and state health care anti-fraud and abuse laws, and (v) all state privacy, and consumer protection laws, including those relating to the use of medical and prescription information for commercial purposes.

10.    Subcontractors
COMPANY may enter into agreements between COMPANY and a subcontractor.  COMPANY will identify the services performed by each such subcontractor.  COMPANY is responsible for the performance of all services provided on behalf HEB and the compliance of each subcontractor to the terms of this Agreement.  HEB will be permitted to conduct periodic audits of the subcontractors to assure compliance to applicable GMP’s, GLP’s and federal regulations (CFR’s).

11.    Standard Operating Procedures (SOP’s)
The following HEB SOP’s are relevant to this Quality Agreement and interactions between HEB and COMPANY and affiliates.
		
	A.
	CLN-009 Handling Adverse Event Reports and Records

		
	B.
	QC-006 Investigation of Out of Specification Results

12.    Laboratory Controls-N/A
 
13    Documentation and Record Maintenance
COMPANY shall preserve all records in accordance with any applicable federal, state or local requirements.  Raw data, documentation, batch records, source documents, product disposition records and reports (collectively, “Documentation”) shall be retained by COMPANY for a minimum period of two (2) years after termination or expiration of the Specialty Distributor Purchase and Service Agreement between HEB and COMPANY.  COMPANY shall, upon written receipt of a written request from HEB, finish such Documentation in a format reasonably acceptable to HEB with thirty (30) days of receipt of such request.  In this case, the Documentation will be shipped to the Quality Assurance Manager named in this Agreement (see Key Contact List, Attachment 1).  It is the responsibility of HEB to notify COMPANY of any changes in this contact.  During the retention period, documentation shall be available for inspection by HEB, its authorized agents and authorized government agencies.

14.    Complaints

In the event COMPANY is notified of a complaint, COMPANY will receive, investigate and respond to the complaint following its internal procedures.  A copy of all complaint investigation documentation will be provided to HEB.

15.    Contact List of Key Personnel. See Attachment 1

IN WITNESS WHEREOF, the parties hereto have executed this Quality Agreement as of the Effective Date.

Hemispherx Biopharma Inc.    
 
Signature:  s/Chris Rossidis                                    

Printed Name:  Chris Rossidis                                    

Title: Director, Head of Commercial Operations                            

Date: 03, August, 2015                                        

COMPANY.

Signature:  s/William A Carter                                    

Printed Name:  William A Carter                                    

Title: Chief Executive Officer                                    

Date: August 6, 2015                                        

Attachment 1
List of Key Contacts
	
			
	SUBJECT
	HEB CONTACT
	COMPANY CONTACT

	Regulatory Compliance Requirements

Notification of Regulatory Agencies and Regulatory Submissions
	Victoria Scott
Director/Quality and Regulatory
Phone: 732-249-3550 ext 567
Fax:732-249-6895
Email:Victoria.Scott@Hemispherx.net
	{***}

	Recall of Marketed Product
	Victoria Scott
Director/Quality and Regulatory
Phone: 732-249-3550 ext 567
Fax:732-249-6895
Email:Victoria.Scott@Hemispherx.net
	{***}

	Adverse Drug Events
	David Strayer, MD
Medical Director
Phone:215-988-0880
Fax: 215-988-1739
Email: David.Strayer@Hemispherx.net
	{***}

	Product Complaint
	Victoria Scott
Director/Quality and Regulatory
Phone: 732-249-3550 ext 567
Fax:732-249-6895
Email:Victoria.Scott@Hemispherx.net
	{***}

	Field Alert Reports/Biological Product Deviation Reports
	Victoria Scott
Director/Quality and Regulatory
Phone: 732-249-3550 ext 567
Fax:732-249-6895
Email:Victoria.Scott@Hemispherx.net
	{***}

	Change Control
	Victoria Scott
Director/Quality and Regulatory
Phone: 732-249-3550 ext 567
Fax:732-249-6895
Email:Victoria.Scott@Hemispherx.net
	{***}

	Clinical Study Protocol Changes
	David Strayer, MD
Medical Director
Phone:215-988-0880
Fax: 215-988-1739
Email: David.Strayer@Hemispherx.net
	{***}

	New or Revised Product Clams
	David Strayer, MD
Medical Director
Phone:215-988-0880
Fax: 215-988-1739
Email: David.Strayer@Hemispherx.net
	{***}

	Documentation
Quality Records
Record Retention
	Victoria Scott
Director/Quality and Regulatory
Phone: 732-249-3550 ext 567
Fax:732-249-6895
Email:Victoria.Scott@Hemispherx.net
	{***}

	SUBJECT
	HEB CONTACT
	COMPANY CONTACT

	Product Testing and Release
	Victoria Scott
Director/Quality and Regulatory
Phone: 732-249-3550 ext 567
Fax:732-249-6895
Email:Victoria.Scott@Hemispherx.net
	{***}

	Control of Components,  Labeling and Packaging Materials

	Chris Cavalli
VP Quality Control
Phone: 732-249-3550 ext 559
Email:Chris.Cavalli@Hemispherx.net
Fax:732-249-6895
	{***}

	Product Storage and Shipping
	Victoria Scott
Director/Quality and Regulatory
Phone: 732-249-3550 ext 567
Fax:732-249-6895
Email:Victoria.Scott@Hemispherx.net
	{***}

	Returned Goods
	Victoria Scott
Director/Quality and Regulatory
Phone: 732-249-3550 ext 567
Fax:732-249-6895
Email:Victoria.Scott@Hemispherx.
	{***}

	Deviations/Investigations

Nonconforming or Rejected Material
	Victoria Scott
Director/Quality and Regulatory
Phone: 732-249-3550 ext 567
Fax:732-249-6895
Email:Victoria.Scott@Hemispherx.net
	{***}

	Supplier Qualification
	Victoria Scott
Director/Quality and Regulatory
Phone: 732-249-3550 ext 567
Fax:732-249-6895
Email:Victoria.Scott@Hemispherx.net
	{***}

	Quality Audits & Regulatory Inspections
	Victoria Scott
Director/Quality and Regulatory
Phone: 732-249-3550 ext 567
Fax:732-249-6895
Email:Victoria.Scott@Hemispherx.net
	{***}

Attachment 2
QA-007-Product Recall
                        
                

Attachment 3
HEB Return Goods Policy
This Return Goods Policy us for all HEB products, Alferon N® and Alferon® distributed by COMPANY. 
The following products are eligible for return and reimbursement:
		
	•
	Outdated Product: Product within two (2) months prior or six (6) months past expiration date and noted on product; 

AND
		
	•
	Product in its original container and bearing its original label.

OR
		
	•
	Product which HEB has specified be returned

The following products are not eligible for return and reimbursement: 
		
	•
	Product that is not outdated. 

		
	•
	Product in which the lot number and/or expiration date is missing, illegible, covered, and/or unreadable on original container.

		
	•
	Product that has been damaged due to improper storage handling, fire, flood, or catastrophe. 

		
	•
	Product that has been sold expressly on a non-returnable basis.

		
	•
	Product that is not in its original container and/or not bearing its original label.

		
	•
	Product that is in its original container with a prescription label attached.

		
	•
	Product that has been repackaged

		
	•
	Partial Vials

		
	•
	Product obtained illegally or via diverted means

		
	•
	Product purchased on the “secondary source” market or from a distributor other than COMPANY.

		
	•
	Product that HEB determines, in its sole discretion, is otherwise adulterated, misbranded, or counterfeit.

HEB will only accept returns shipped to COMPANY. All eligible products shall be shipped in a safe, secure, and reliable manner, and in compliance with all applicable federal, state and local laws, regulations and statutes. It is the shipper’s responsibility to securely package all return goods to prevent to prevent breakage during transit and otherwise comply with the laws and regulations applicable to the packaging, shipping, and transport of return goods shipments.
HEB is not responsible for shipments lost and/or damaged in transit. HEB recommends that all customers insure return goods shipments.
HEB will audit the quantities of return goods and final reimbursement will be based on HEB count. All products will be reimbursed based on the price paid Direct purchasing customers reimbursement will be issued in the form of credit or product replacement to the appropriate party.

To assist in accurate credit memo processing, please include the following information: 
		
	1.
	Purchasers Name and Mailing Address

		
	2.
	Date and Quantity 

Return goods shipments which are deemed to be outside of this policy will not be returned to the customer or the third party processor and no reimbursement will be issued by HEB. HEB return goods policy is subject to change at any time and without prior notices to other parties.
    

 
                        
 

Attachment 3
HEB Return Goods Policy
This Return Goods Policy us for all HEB products, Alferon N® and Alferon® distributed by COMPANY. 
The following products are eligible for return and reimbursement:
		
	•
	Outdated Product: Product within two (2) months prior or six (6) months past expiration date and noted on product; 

AND
		
	•
	Product in its original container and bearing its original label.

OR
		
	•
	Product which HEB has specified be returned

The following products are not eligible for return and reimbursement: 
		
	•
	Product that is not outdated. 

		
	•
	Product in which the lot number and/or expiration date is missing, illegible, covered, and/or unreadable on original container.

		
	•
	Product that has been damaged due to improper storage handling, fire, flood, or catastrophe. 

		
	•
	Product that has been sold expressly on a non-returnable basis.

		
	•
	Product that is not in its original container and/or not bearing its original label.

		
	•
	Product that is in its original container with a prescription label attached.

		
	•
	Product that has been repackaged

		
	•
	Partial Vials

		
	•
	Product obtained illegally or via diverted means

		
	•
	Product purchased on the “secondary source” market or from a distributor other than COMPANY.

		
	•
	Product that HEB determines, in its sole discretion, is otherwise adulterated, misbranded, or counterfeit.

HEB will only accept returns shipped to COMPANY. All eligible products shall be shipped in a safe, secure, and reliable manner, and in compliance with all applicable federal, state and local laws, regulations and statutes. It is the shipper’s responsibility to securely package all return goods to prevent to prevent breakage during transit and otherwise comply with the laws and regulations applicable to the packaging, shipping, and transport of return goods shipments.
HEB is not responsible for shipments lost and/or damaged in transit. HEB recommends that all customers insure return goods shipments.
HEB will audit the quantities of return goods and final reimbursement will be based on HEB count. All products will be reimbursed based on the price paid Direct purchasing customers reimbursement will be issued in the form of credit or product replacement to the appropriate party.
To assist in accurate credit memo processing, please include the following information: 
		
	3.
	Purchasers Name and Mailing Address

		
	4.
	Date and Quantity 

Return goods shipments which are deemed to be outside of this policy will not be returned to the customer or the third party processor and no reimbursement will be issued by HEB. HEB return goods policy is subject to change at any time and without prior notices to other parties.
    

 
                        
 

421290    1    
{***} Confidential portions of this exhibit have been redacted and filed separately with the Commission pursuant to a confidential treatment request in accordance with Rule 24b-2 of the Securities Exchange Act of 1934, as amended. Exhibit 1, when prepared, will be redacted from this agreement and filed separately with the Commission pursuant to the request for confidential treatment.EX-10.1

 Exhibit 10.1 
  

							
		 		 	Published CUSIP Number:	  	09536RAA2
		 		 	Term Loan CUSIP Number:	  	09536RAB0

 CREDIT AGREEMENT 

Dated as of June 23, 2015 

Among 
 BLUE CUBE SPINCO INC.,

 as Borrower 

THE LENDERS NAMED HEREIN 

as Lenders 
 WELLS
FARGO BANK, NATIONAL ASSOCIATION 
 as Administrative Agent 

JPMORGAN CHASE BANK, N.A. 

as Syndication Agent 

CITIBANK, N.A. 
 BANK OF AMERICA,
N.A., 
 PNC BANK, NATIONAL ASSOCIATION, 

THE BANK OF TOKYO-MITSUBISHI UFJ, LTD. 

and 
 SUMITOMO MITSUI BANKING
CORPORATION 
 as Documentation Agents 

WELLS FARGO SECURITIES, LLC, J.P. MORGAN SECURITIES LLC, CITIGROUP GLOBAL MARKETS INC., 

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED and PNC CAPITAL MARKETS LLC 

as Lead Arrangers and Lead Bookrunners 

 Table of Contents 

 

									
	 	 	 	  	Page	 
		
	ARTICLE I DEFINITIONS AND ACCOUNTING TERMS	  	 	1	  
				
		 	Section 1.01	    	Certain Defined Terms	  	 	1	  
				
		 	Section 1.02	    	Other Definitions and Provisions	  	 	20	  
				
		 	Section 1.03	    	Computation of Time Periods	  	 	21	  
				
		 	Section 1.04	    	Accounting Terms	  	 	21	  
		
	ARTICLE II AMOUNTS AND TERMS OF THE ADVANCES	  	 	21	  
				
		 	Section 2.01	    	The Initial Term Loans	  	 	21	  
				
		 	Section 2.02	    	Making the Advances	  	 	22	  
				
		 	Section 2.03	    	Fees	  	 	24	  
				
		 	Section 2.04	    	Reduction, Increase and Extension of the Commitments/Incremental Term Loan Commitments	  	 	24	  
				
		 	Section 2.05	    	Initial Term Loans	  	 	25	  
				
		 	Section 2.06	    	Interest	  	 	25	  
				
		 	Section 2.07	    	Additional Interest on Eurodollar Rate Advances	  	 	25	  
				
		 	Section 2.08	    	Interest Rate Determination	  	 	26	  
				
		 	Section 2.09	    	Prepayments	  	 	26	  
				
		 	Section 2.10	    	Increased Costs	  	 	26	  
				
		 	Section 2.11	    	Payments and Computations	  	 	27	  
				
		 	Section 2.12	    	Evidence of Indebtedness	  	 	28	  
				
		 	Section 2.13	    	Sharing of Payments, Etc.	  	 	29	  
				
		 	Section 2.14	    	Taxes	  	 	29	  
				
		 	Section 2.15	    	Interest Elections	  	 	32	  
				
		 	Section 2.16	    	[Reserved]	  	 	33	  
				
		 	Section 2.17	    	Mitigation Obligations; Replacement of Lenders	  	 	33	  
				
		 	Section 2.18	    	[Reserved]	  	 	34	  
				
		 	Section 2.19	    	Defaulting Lenders	  	 	34	  

  
 -i- 

 Table of Contents 

(continued) 
  

									
	 	 	 	  	Page	 
		
	ARTICLE III CONDITIONS OF LENDING	  	 	35	  
				
		 	Section 3.01	    	Condition Precedent to the Effectiveness of Sections 2.01 and 2.02	  	 	35	  
				
		 	Section 3.02	    	[Reserved]	  	 	37	  
				
		 	Section 3.03	    	[Reserved]	  	 	37	  
				
		 	Section 3.04	    	Determinations Under Section 3.01	  	 	37	  
				
		 	Section 3.05	    	Conditions Precedent to Effectiveness	  	 	37	  
		
	ARTICLE IV REPRESENTATIONS AND WARRANTIES	  	 	38	  
				
		 	Section 4.01	    	Representations and Warranties of the Company	  	 	38	  
		
	ARTICLE V COVENANTS OF THE COMPANY	  	 	40	  
				
		 	Section 5.01	    	Affirmative Covenants	  	 	40	  
				
		 	Section 5.02	    	Negative Covenants	  	 	43	  
				
		 	Section 5.03	    	TDCC Guaranteed Period Provisions	  	 	46	  
		
	ARTICLE VI EVENTS OF DEFAULT	  	 	47	  
				
		 	Section 6.01	    	Events of Default	  	 	47	  
				
		 	Section 6.02	    	[Reserved]	  	 	48	  
				
		 	Section 6.03	    	Administrative Agent May File Proofs of Claim	  	 	48	  
		
	ARTICLE VII [RESERVED]	  	 	49	  
		
	ARTICLE VIII THE AGENT	  	 	49	  
				
		 	Section 8.01	    	Appointment and Authority	  	 	49	  
				
		 	Section 8.02	    	Reliance by the Administrative Agent	  	 	49	  
				
		 	Section 8.03	    	Rights as a Lender	  	 	50	  
				
		 	Section 8.04	    	Exculpatory Provisions	  	 	50	  
				
		 	Section 8.05	    	Non-Reliance on Administrative Agent and Other Lenders	  	 	51	  
				
		 	Section 8.06	    	Indemnification	  	 	51	  
				
		 	Section 8.07	    	Successor Agent	  	 	52	  

  
 -ii- 

 Table of Contents 

(continued) 
  

									
	 	 	 	  	Page	 
				
		 	Section 8.08	    	No Other Duties, Etc.	  	 	52	  
				
		 	Section 8.09	    	Delegation of Duties	  	 	52	  
				
		 	Section 8.10	    	Other Agents	  	 	52	  
		
	ARTICLE IX SUCCESSORS, ASSIGNS AND PARTICIPATIONS	  	 	52	  
				
		 	Section 9.01	    	Binding Effect	  	 	52	  
				
		 	Section 9.02	    	Assignments	  	 	53	  
				
		 	Section 9.03	    	Participations	  	 	55	  
				
		 	Section 9.04	    	Pledge	  	 	56	  
		
	ARTICLE X MISCELLANEOUS	  	 	56	  
				
		 	Section 10.01	    	Amendments, Etc.	  	 	56	  
				
		 	Section 10.02	    	Notices, Effectiveness, Electronic Communication	  	 	57	  
				
		 	Section 10.03	    	No Waiver; Remedies	  	 	58	  
				
		 	Section 10.04	    	Costs and Expenses; Damage Waiver	  	 	58	  
				
		 	Section 10.05	    	Right of Set-off	  	 	59	  
				
		 	Section 10.06	    	Indemnification by Company	  	 	59	  
				
		 	Section 10.07	    	Governing Law	  	 	60	  
				
		 	Section 10.08	    	Execution in Counterparts; Integration; Effectiveness	  	 	60	  
				
		 	Section 10.09	    	Special Prepayment Right	  	 	61	  
				
		 	Section 10.10	    	Jurisdiction, Etc.	  	 	61	  
				
		 	Section 10.11	    	[Reserved]	  	 	62	  
				
		 	Section 10.12	    	Confidentiality	  	 	62	  
				
		 	Section 10.13	    	Patriot Act, Etc.	  	 	63	  
				
		 	Section 10.14	    	Judgment	  	 	63	  

  
 -iii- 

 Table of Contents 

(continued) 
  

									
	 	 	 	  	Page	 
				
		 	Section 10.15	    	 Waiver of Jury Trial
	  	 	64	  
				
		 	Section 10.16	    	 Acknowledgments
	  	 	64	  

  

					
	Schedule I	 	-	    	List of Commitments and Applicable Lending Offices
	Schedule 10.02	 	-	    	Notice Addresses
			
	Exhibit A	 	-	    	Term Loan Note
	Exhibit B	 	-	    	Notice of Borrowing
	Exhibit C	 	-	    	Assignment and Assumption
	Exhibit D	 	-	    	[Reserved]
	Exhibit E	 	-	    	Tax Compliance Certificates
	Exhibit F	 	-	    	Solvency Certificate
	Exhibit G	 	-	    	Guaranty Agreement

  
 -iv- 

 CREDIT AGREEMENT 

Dated as of June 23, 2015 

BLUE CUBE SPINCO INC., a Delaware corporation (the “Borrower”), the lenders that are party to this Agreement or become party
to this Agreement pursuant to the terms hereof and WELLS FARGO BANK, NATIONAL ASSOCIATION, a national banking association, as administrative agent (the “Administrative Agent”) for the Lenders, hereby agree as follows: 

ARTICLE I 
 DEFINITIONS AND
ACCOUNTING TERMS 
 Section 1.01 Certain Defined Terms. As used in this Agreement, the following terms shall have the
following meanings (such meanings to be equally applicable to both the singular and plural forms of the terms defined): 
 “30-Day
Eurodollar Rate” has the meaning set forth in the definition of “Base Rate”. 
 “Acquisition” means any
acquisition by the Company or any of its Subsidiaries of all or substantially all of the capital stock of, or all or a substantial part of the assets of, or of a business unit or division of, any Person. 

“Act” has the meaning specified in Section 10.13. 

“Administrative Agent” has the meaning set forth in the introductory paragraph hereto. 

“Administrative Agent’s Account” means the account(s) of the Administrative Agent, as applicable, designated in writing
by the Administrative Agent. 
 “Administrative Questionnaire” means an administrative questionnaire in a form supplied by
the Administrative Agent. 
 “Advance” means a Term Loan. 

“Affiliate” means, when used with respect to any Person, any other Person directly or indirectly controlling, controlled by
or under common control with such Person. The term “control” (including the terms “controlled by” or “under common control with”) means the possession, directly or indirectly, of the power, whether or not
exercised, to direct or cause the direction of the management and policies of any Person, whether through ownership of voting securities or by contract or otherwise. 

“Agreement” means this Credit Agreement, as amended, restated or otherwise modified from time to time. 

“Anti-Corruption Laws” means all laws, rules and regulations of any jurisdiction applicable to the Company or its
Subsidiaries from time to time concerning or relating to bribery or corruption. 

 “Applicable Lending Office” means, with respect to each Lender, such
Lender’s Domestic Lending Office in the case of a Base Rate Advance and such Lender’s Eurodollar Lending Office in the case of a Eurodollar Rate Advance. 

“Applicable Margin” means, as of any date of determination, a rate per annum determined by reference to the Performance Level
applicable on such date as set forth below: 
  

									
	 Performance Level
	  	Applicable Margin for
Base Rate Advances	 	 	Applicable Margin for
Eurodollar Rate Advances	 
	 I
	  	 	0.25	% 	 	 	1.25	% 
	 II
	  	 	0.50	% 	 	 	1.50	% 
	 III
	  	 	0.75	% 	 	 	1.75	% 
	 IV
	  	 	1.00	% 	 	 	2.00	% 

 “Approved Fund” means any Person (other than a natural person) that is engaged in making,
purchasing, holding or investing in bank loans and similar extensions of credit in the ordinary course of its business and that is administered or managed by (a) a Lender, (b) an Affiliate of a Lender or (c) an entity or an Affiliate
of an entity that administers or manages a Lender. 
 “Arrangers” means Wells Fargo Securities, LLC, J.P. Morgan Securities
LLC, Citigroup Global Markets Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated and PNC Capital Markets LLC, in their capacities as lead arrangers and lead bookrunners. 

“Assignment and Assumption” means an assignment and assumption entered into by a Lender and an Eligible Assignee (with the
consent of any party whose consent is required by Section 9.02), and accepted by the Administrative Agent, in substantially the form of Exhibit C hereto or any other form approved by the Administrative Agent and otherwise in
accordance with Article IX. 
 “Base Rate” means, for any day, a fluctuating interest rate per annum as shall be in
effect from time to time which rate per annum shall at all times be equal to the highest of: 
 (a) The rate of interest per annum
publicly announced from time to time by the Administrative Agent as its prime rate; 
 (b) The sum (adjusted to the nearest 1/100 of
one percent or, if there is no nearest 1/100 of one percent, to the next higher 1/100 of one percent) of (i) 1/2 of one percent per annum, plus (ii) the Federal Funds Rate; or 

(c) The sum of (i) the Eurodollar Rate for an interest period of one month (the “30-Day Eurodollar Rate”),
plus (ii) one percent per annum. 
 Each change in the prime rate, the Federal Funds Rate or the 30-Day Eurodollar Rate shall be effective as of
the opening of business on the day such change occurs. The parties hereto acknowledge that the rate announced publicly by the Administrative Agent as its prime rate is an index or base rate and shall not necessarily be its lowest or best rate
charged to its customers or other banks. 
 “Base Rate Advance” means any Term Loan denominated in US Dollars which bears
interest as provided in Section 2.06(a). 

  
 2 

 “Below Basis Amount” has the meaning assigned to such term in the Separation
Agreement. 
 “Borrower” means Blue Cube Spinco Inc., a Delaware corporation. 

“Borrowing Minimum” means US$10,000,000. 

“Borrowing Multiple” means US$1,000,000. 

“Business” has the meaning assigned to such term in the Separation Agreement. 

“Business Day” means any day that is not a Saturday, Sunday or other day on which commercial banks in New York City are
authorized or required by law to remain closed; provided that when used in connection with a Eurodollar Rate Advance denominated in US Dollars, the term “Business Day” shall also exclude any day on which banks are not open for
dealings in US Dollar deposits in the London interbank market. 
 “Capital Lease Obligations” of any Person means the
obligations of such Person to pay rent or other amounts under any lease of (or other arrangement conveying the right to use) real or personal property, or a combination thereof, which obligations are required to be classified and accounted for as
capital leases on a balance sheet of such Person under GAAP, and the amount of such obligations shall be the capitalized amount thereof determined in accordance with GAAP. 

“Change in Law” means the occurrence, after the date of this Agreement, of any of the following: (a) the adoption or
taking effect of any law, rule, regulation or treaty, (b) any change in any law, rule, regulation or treaty or in the administration, interpretation, implementation or application thereof by any Governmental Authority or (c) the making or
issuance of any request, rule, guideline or directive (whether or not having the force of law) by any Governmental Authority; provided that notwithstanding anything herein to the contrary, (i) the Dodd-Frank Wall Street Reform and
Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued in connection therewith and (ii) all requests, rules, guidelines or directives promulgated by the Bank for International Settlements, the Basel
Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities, in each case pursuant to Basel III, shall in each case be deemed to be a Change in Law, regardless of the date enacted,
adopted or issued. 
 “Closing Date” means the date on which the conditions precedent set forth in Section 3.01
shall have been satisfied and the Initial Term Loans funded. 
 “Code” means the Internal Revenue Code of 1986, as amended
from time to time, and the regulations promulgated and rulings issued thereunder. 
 “Commitment” means a Term Loan
Commitment. 
 “Company” means (i) prior to the closing of the Merger, the Borrower, and (ii) from and after the
closing of the Merger, the Parent Guarantor. 
 “Confidential Information” has the meaning specified in Section 10.12.

  
 3 

 “Connection Income Taxes” means Other Connection Taxes that are imposed on or
measured by net income (however denominated) or that are franchise Taxes or branch profits Taxes. 
 “Consolidated Cost
Savings” means, for any period, those synergies, operating expense reductions and cost-savings of the Company and its Subsidiaries that are reasonably identifiable, factually supportable and projected by the Company in good faith to be
realized following the Closing Date as a result of restructurings, reorganizations, divestitures, cost savings initiatives, production rationalizations and other similar initiatives, in each case to the extent not prohibited by this Agreement
(collectively, “Initiatives”) (calculated on a pro forma basis as if such synergies, operating expense reductions and cost-savings had been realized on the first day of such period, and net of the amount of actual benefits realized
during such period from such Initiatives to the extent already included in Consolidated Net Income for such period); provided that (i) no synergies, operating expense reductions or cost-savings shall be added to Consolidated EBITDA
pursuant to clause (e) thereof to the extent duplicative of any expenses or charges otherwise added to (or excluded from) Consolidated EBITDA, whether through a pro forma adjustment or otherwise, for such period, (ii) projected amounts
(and not yet realized) (x) may be added (the date on which such amounts are added, the “Initiative Commencement Date”) once actions in respect of such Initiative have been taken or are expected to be taken (in the good faith
determination of the Borrower) within 12 months and (y) may no longer be added back in calculating Consolidated EBITDA pursuant to clause (e) thereof to the extent occurring more than six full fiscal quarters after the Initiative
Commencement Date and (iii) Consolidated Cost Savings in respect of the Merger shall be determined in a manner consistent with the manner in which synergies, operating expense reductions and cost-savings were included in the calculation of
Consolidated EBITDA for purposes of clause (A) of the last sentence of “Consolidated EBITDA”. 
 “Consolidated
EBITDA” means, for any period, Consolidated Net Income for such period (adjusted to exclude all extraordinary or unusual items and any gains or losses on sales of assets outside the ordinary course of business) plus, without
duplication and (except with respect to synergies included in Consolidated Cost Savings) to the extent deducted in calculating such Consolidated Net Income for such period, the sum of (a) income tax expense, (b) interest expense,
amortization or writeoff of debt discount with respect to Indebtedness (including the Advances), (c) depreciation and amortization expense, (d) amortization of intangibles (including, but not limited to, goodwill) and organization costs,
(e) Consolidated Cost Savings; provided that with respect to any period, the aggregate amount added back in the calculation of Consolidated EBITDA for such period pursuant to this clause (e) and clause (f) below shall not
exceed (x) for any period ended on or prior to December 31, 2016, 20% of Consolidated EBITDA and (y) otherwise, 15% of Consolidated EBITDA (in each case calculated prior to giving effect to any add-backs pursuant to this clause
(e) and clause (f) below), (f) costs and expenses incurred in connection with the implementation of Initiatives; provided that with respect to any period, the aggregate amount added back in the calculation of Consolidated
EBITDA for such period pursuant to this clause (f) and clause (e) above shall not exceed (x) for any period ended on or prior to December 31, 2016, 20% of Consolidated EBITDA and (y) otherwise, 15% of Consolidated EBITDA (in
each case calculated prior to giving effect to any add-backs pursuant to this clause (f) and clause (e) above), (g) Consolidated Transaction Costs; provided that the aggregate amount added back in the calculation of
Consolidated EBITDA pursuant to this clause (g) shall not exceed $100,000,000, (h) all payments triggered in respect of the Company’s non-qualified deferred compensation and post-retirement benefit plans in connection with the
Transactions during such period and (i) any other non-cash charges, minus, (i) any cash payments made during such period in respect of items described in clause (i) above subsequent to the fiscal quarter in which the relevant
non-cash charge was reflected as a charge in the statement of Consolidated Net Income and (ii) to the extent included in calculating such Consolidated Net Income for such period, any non-cash income (other than amounts accrued in the ordinary
course of business under accrual-based revenue recognition procedures in accordance with GAAP). For the purposes of calculating Consolidated EBITDA for any Reference Period pursuant to any determination of the Consolidated Leverage Ratio, if
during such Reference Period the Company or any Subsidiary shall have made a Material Acquisition or a Material Disposition, or if during such Reference Period the Internal Separation or the Merger shall have occurred, Consolidated EBITDA for such
Reference Period shall be calculated after giving pro forma effect thereto as if such Material Acquisition, Material Disposition, Internal Separation or Merger, as applicable, occurred on the first day of such Reference Period. 

  
 4 

 “Consolidated Interest Coverage Ratio” means, for any Reference Period, the ratio of
(a) Consolidated EBITDA for such Reference Period to (b) Consolidated Interest Expense for such Reference Period. 

“Consolidated Interest Expense” means, for any period, total interest expense (including that attributable to capitalized
lease obligations) of the Company and its Subsidiaries for such period with respect to all outstanding Indebtedness of the Company and its Subsidiaries (including all commissions, discounts and other fees and charges accrued with respect to letters
of credit and bankers’ acceptance financing allocable to such period in accordance with GAAP), minus (in the case of net benefits) or plus (in the case of net costs) the net benefits or net costs under all Hedging Agreements in
respect of Indebtedness of the Company and its Subsidiaries to the extent such net benefits or net costs are allocable to such period in accordance with GAAP. 

“Consolidated Leverage Ratio” means, as at the last day of any Reference Period, the ratio of (a) Consolidated Total
Debt on such date to (b) Consolidated EBITDA, for such Reference Period. The Consolidated Leverage Ratio shall be calculated on the date on which the Company delivers to the Administrative Agent the financial statements required to be
delivered pursuant to Section 5.01(i)(i) or (ii), as the case may be, and the certificate required to be delivered pursuant to Section 5.01(i)(iv) demonstrating such ratio. 

“Consolidated Net Income” means, for any period, the consolidated net income (or loss) of the Company and its Subsidiaries,
determined on a consolidated basis in accordance with GAAP; provided that there shall be excluded (a) the income (or deficit) of any Person accrued prior to the date it becomes a Subsidiary of the Company or is merged into or
consolidated with the Company or any of its Subsidiaries, (b) the income (or deficit) of any Person (other than a Subsidiary of the Company) in which the Company or any of its Subsidiaries has an ownership interest, except to the extent that
any such income is actually received by the Company or such Subsidiary in the form of dividends or similar distributions and (c) the undistributed earnings of any Subsidiary of the Company to the extent that the declaration or payment of
dividends or similar distributions by such Subsidiary is not at the time permitted by the terms of any Contractual Obligation (other than under any Loan Document) or any law applicable to such Subsidiary. 

“Consolidated Net Tangible Assets” means, at any date, the total assets of the Company and its Subsidiaries at such date,
determined on a consolidated basis, minus (a) the consolidated current liabilities (excluding interest-bearing liabilities) of the Company and its Subsidiaries as of such date, (b) unamortized debt discount and expense, goodwill,
trademarks, brand names, patents and other intangible assets, and (c) any write-up of the value of any assets (other than an allocation of purchase price in an acquisition) after December 31, 2014; all as determined in accordance with
GAAP. 

  
 5 

 “Consolidated Total Debt” means, at any date, the aggregate principal amount of
all Indebtedness of the Company and its Subsidiaries at such date, determined on a consolidated basis in accordance with GAAP. 

“Consolidated Transaction Costs” means, for any period, the sum (without duplication) of all non-recurring fees, costs and
expenses incurred by the Company and its Subsidiaries, whether before, on or within six months after the Closing Date, in connection with the Transactions during such period. 

“Contractual Obligation” means, as to any Person, any provision of any security issued by such Person or of any agreement,
instrument or other undertaking to which such Person is a party or by which it or any of its property is bound. 
 “Credit
Party” means the Administrative Agent, the syndication agents and documentation agents listed on the cover page to this Agreement, the Arrangers or any other Lender. 

“DCP” has the meaning assigned to such term in the Form S-4. 

“Debtor Relief Laws” means the Bankruptcy Code of the United States, and all other liquidation, conservatorship, bankruptcy,
assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief laws of the United States or other applicable jurisdictions from time to time in effect. 

“Defaulting Lender” means, subject to Section 2.19(b), any Lender that (a) has failed to (i) fund all
or any portion of the Term Loans required to be funded by it hereunder within two Business Days of the date such Term Loans were required to be funded hereunder unless such Lender notifies the Administrative Agent and the Company in writing that
such failure is the result of such Lender’s determination that one or more conditions precedent to funding (each of which conditions precedent, together with any applicable default, shall be specifically identified in such writing) has not been
satisfied, or (ii) pay to the Administrative Agent or any Lender any other amount required to be paid by it hereunder within two Business Days of the date when due, (b) has notified the Company or the Administrative Agent in writing, or
has made a public statement to the effect, that it does not intend to comply with its funding obligations hereunder (unless such writing or public statement relates to such Lender’s obligation to fund an Advance hereunder and states that such
position is based on such Lender’s determination that a condition precedent to funding (which condition precedent, together with any applicable default, shall be specifically identified in such writing or public statement) cannot be satisfied)
or generally under other agreements in which it commits to extend credit, (c) has failed, within three Business Days after written request by the Administrative Agent or the Company, to confirm in writing to the Administrative Agent and the
Company that it will comply with its prospective funding obligations hereunder (provided that such Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon receipt of such written confirmation by the Administrative
Agent and the Company), or (d) has, or has a direct or indirect parent company that has, (i) become the subject of a proceeding under any Debtor Relief Law or (ii) had appointed for it a receiver, custodian, conservator, trustee,
administrator, assignee for the benefit of creditors or similar Person charged with reorganization or liquidation of its business or assets, including the Federal Deposit Insurance Corporation or any other state or federal regulatory authority
acting in such a capacity; provided that a Lender shall not be a Defaulting Lender solely by virtue of the ownership or acquisition of any equity interest in that Lender or any direct or indirect parent company thereof by a Governmental
Authority so long as such ownership interest does not result in or provide such Lender with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit such
Lender (or such Governmental Authority) to reject, repudiate, disavow or disaffirm any contracts or agreements made with such Lender. Any determination by the Administrative Agent that a Lender is a Defaulting Lender under any one or more of
clauses (a) through (d) above shall be conclusive and binding absent manifest error, and such Lender shall be deemed to be a Defaulting Lender (subject to Section 2.19(b)) upon delivery of written notice of such determination
to the Company and each Lender. 

  
 6 

 “Designated Jurisdiction” has the meaning specified in
Section 4.01(k). 
 “Distribution Conditions” means the conditions precedent to the Distribution (as defined in
the Separation Agreement) set forth in Section 3.01 of the Separation Agreement. 
 “Domestic Lending Office” means,
with respect to any Term Loan Lender, the office of such Lender specified as its “Domestic Lending Office” opposite its name on Schedule I hereto or in the Assignment and Assumption pursuant to which it became a Lender, or such
other office of such Lender as such Lender may from time to time specify to the Company and the Administrative Agent. 
 “Domestic
Subsidiary” shall mean any Subsidiary organized under the laws of any State of the United States, substantially all of the assets of which are located, and substantially all of the business of which is conducted, in the United States. 

“Effective Date” shall mean June 23, 2015. 

“Eligible Assignee” means (a) any Lender, (b) any Affiliate of any Lender, (c) any Approved Fund, (d) any
commercial bank and (e) any other financial institution or investment fund engaged as a primary activity in the ordinary course of its business in making or investing in commercial loans or debt securities; provided, however, that
neither the Company, any Affiliate of the Company, any natural Person, any Defaulting Lender or any subsidiary of a Defaulting Lender shall qualify as an Eligible Assignee. 

“Environmental Laws” means any and all applicable federal, state, local and foreign statutes, laws, judicial decisions,
regulations, ordinances, rules, judgments, orders, decrees, injunctions, permits, grants, franchises, licenses or governmental restrictions relating to (i) the effect of the environment on human health, (ii) the environment or
(iii) emissions, discharges or releases of Hazardous Substances into the environment, including ambient air, surface water, groundwater, or land, or otherwise relating to the effect on the environment of the manufacture, processing,
distribution, use, treatment, storage, disposal, transport or handling of Hazardous Substances or the remediation thereof. 

“ERISA” means the Employee Retirement Income Security Act of 1974, as amended from time to time, and the regulations
promulgated and rulings issued thereunder. 
 “ERISA Affiliate” means any Person who for purposes of Title IV of ERISA is a
member of the Company’s controlled group or is under common control with the Company, in each case, within the meaning of Section 414 of the Code. 

  
 7 

 “ERISA Event” means (i) the occurrence of a reportable event, within the
meaning of Section 4043 of ERISA, unless the 30-day notice requirement with respect thereto has been waived by the PBGC; (ii) the provision by the administrator of any Plan of a notice of intent to terminate such Plan, pursuant to
Section 4041(a)(2) of ERISA (including any such notice with respect to a plan amendment referred to in Section 4041(e) of ERISA); (iii) the cessation of operations at a facility by the Company or any ERISA Affiliate in the
circumstances described in Section 4062(e) of ERISA and with respect to a Plan; (iv) the withdrawal by the Company or any ERISA Affiliate from a Multiple Employer Plan during a plan year for which it was a substantial employer, as defined
in Section 4001(a)(2) of ERISA; (v) the failure by the Company or any ERISA Affiliate to make a payment to a Plan required under Section 302 of ERISA, which failure could result in the imposition of a Lien under Section 303(k)(1)
of ERISA; or (vi) the institution by the PBGC of proceedings to terminate a Plan, pursuant to Section 4042 of ERISA, or the occurrence of any event or condition which would constitute grounds under Section 4042 of ERISA for the
termination of, or the appointment of a trustee to administer, a Plan. 
 “Eurocurrency Liabilities” has the meaning
assigned to that term in Regulation D of the Board of Governors of the Federal Reserve System, as in effect from time to time. 

“Eurodollar Lending Office” means, with respect to any Lender, the office of such Lender specified as its “Eurodollar
Lending Office” opposite its name on Schedule I hereto or in the Assignment and Assumption pursuant to which it became a Lender (or, if no such office is specified, its Domestic Lending Office), or such other office of such Lender as
such Lender may from time to time specify to the Company and the Administrative Agent. 
 “Eurodollar Rate” means, for the
Interest Period for each Eurodollar Rate Advance comprising part of the same Term Loan Borrowing, an interest rate per annum equal to the London interbank offered rate as administered by the ICE Benchmark Administration (or any other Person that
takes over the administration of such rate) for the relevant currency for a period equal in length to the applicable period as displayed on page LIBOR01 of the Reuters Screen that displays such rate (or, in the event such rate does not appear on
such Reuters page, on any successor or substitute page on such screen that displays such rate, or on the appropriate page of such other information service that publishes such rate from time to time as selected by the Administrative Agent in its
reasonable discretion; in each case, the “LIBO Screen Rate”), in each case as of the Specified Time on the Quotation Day for such period; provided that if the applicable Screen Rate shall be less than zero, such rate shall be
deemed to be zero for purposes of this Agreement; provided, further, that if the applicable Screen Rate shall not be available at such time for such Interest Period or applicable period (an “Impacted Interest Period”)
with respect to the relevant currency, then the Eurodollar Rate shall be the Interpolated Rate at such time (provided that if the Interpolated Rate shall be less than zero, such rate shall be deemed to be zero for purposes of this Agreement).

 Notwithstanding the foregoing, if at the time that the Administrative Agent shall seek to determine the relevant Screen Rate on the
Quotation Day for any Interest Period for a Eurodollar Rate Advance, the applicable Screen Rate shall not be available for such Interest Period for any reason and the Administrative Agent shall determine that it is not possible to determine the
Interpolated Rate (which conclusion shall be conclusive and binding absent manifest error), then, subject to Section 2.08, the Reference Bank Rate shall be the Eurodollar Rate for such Interest Period for such Eurodollar Rate Advance, as
applicable; provided that if any Reference Bank Rate shall be less than zero, such rate shall be deemed to be zero for purposes of this Agreement. 

  
 8 

 “Eurodollar Rate Advance” means any Term Loan which bears interest as provided
in Section 2.06(b). 
 “Eurodollar Rate Reserve Percentage” of any Lender for the Interest Period for any
Eurodollar Rate Advance means the reserve percentage applicable during such Interest Period (or if more than one such percentage shall be so applicable, the daily average of such percentages for those days in such Interest Period during which any
such percentage shall be so applicable) under regulations issued from time to time by the Board of Governors of the Federal Reserve System (or any successor) for determining the maximum reserve requirement (including any emergency, supplemental or
other marginal reserve requirement) for such Lender with respect to liabilities or assets consisting of or including Eurocurrency Liabilities having a term equal to such Interest Period. 

“Events of Default” has the meaning specified in Section 6.01. 

“Excluded Taxes” means any of the following Taxes imposed on or with respect to a Recipient or required to be withheld or
deducted from a payment to a Recipient, (a) Taxes imposed on or measured by net income (however denominated), franchise Taxes, and branch profits Taxes, in each case, (i) imposed as a result of such Recipient being organized under the laws
of, or having its principal office or, in the case of any Lender, its applicable lending office located in, the jurisdiction imposing such Tax (or any political subdivision thereof) or (ii) that are Other Connection Taxes, (b) in the case
of a Lender, United States federal withholding Taxes imposed on amounts payable to or for the account of such Lender with respect to an applicable interest in an Advance or Commitment pursuant to a law in effect on the date on which (i) such
Lender acquires such interest in the Advance or Commitment (other than pursuant to an assignment request by the Company under Section 2.17(b)) or (ii) such Lender changes its lending office, except in each case to the extent
that, pursuant to Section 2.14, amounts with respect to such Taxes were payable either to such Lender’s assignor immediately before such Lender became a party hereto or to such Lender immediately before it changed its lending
office, (c) Taxes attributable to such Recipient’s failure to comply with Section 2.14(g) and (d) any United States federal withholding Taxes imposed under FATCA. 

“Facility” means the Term Loan Commitments and the Term Loans made thereunder. Upon any extension of a Termination Date
pursuant to Section 2.04(b), the Commitments or Term Loans so extended shall be a separate Facility from the non-extended Commitments or Term Loans. 

“FATCA” means Sections 1471 through 1474 of the Code, as of the date of this Agreement (or any amended or successor version
that is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof and any agreements entered into pursuant to Section 1471(b)(1) of the Code. 

“Federal Funds Rate” means, for any period, a fluctuating interest rate per annum equal for each day during such period to
the weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers, as published in Federal Reserve Statistical Release H.15(519), for such day (or, if such day is
not a Business Day, for the next preceding Business Day) by the Federal Reserve Bank of New York, or, if such rate is not so published for any day which is a Business Day, the average of the quotations for such day on such transactions received by
the Administrative Agent from three Federal funds brokers of recognized standing selected by it; provided that if the Federal Funds Rate shall be less than zero, such rate shall be deemed to be zero for purposes of this Agreement. 

  
 9 

 “Fee Letter” means, collectively, (a) the Amended and Restated Arranger Fee
Letter and Amendment to the Bridge Arranger Fee Letter dated June 18, 2015, among the Administrative Agent, Wells Fargo Securities, LLC, JPMorgan Chase Bank, N.A., J.P. Morgan Securities LLC and Olin, and (b) the Administrative Agent Fee
Letter dated March 26, 2015, between the Administrative Agent and Olin. 
 “Foreign Lender” means a Lender that is not
a US Person. 
 “Foreign Subsidiary” shall mean any Subsidiary other than a Domestic Subsidiary. 

“Form S-4” means the Borrower’s Form S-4 filed with the SEC on May 8, 2014, as amended by Amendment No. 1,
filed with the SEC on June 19, 2015. 
 “GAAP” has the meaning specified in Section 1.04. 

“Governmental Authority” means the government of the United States or any other nation, or of any political subdivision
thereof, whether state, provincial or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or
pertaining to government (including any supra-national bodies such as the European Union or the European Central Bank). 

“Guarantee” of or by any Person (the “guarantor”) means any obligation, contingent or otherwise, of the
guarantor guaranteeing or having the economic effect of guaranteeing any Indebtedness or other obligation of any other Person (the “primary obligor”) in any manner, whether directly or indirectly, and including any obligation of the
guarantor, direct or indirect, (a) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other obligation or to purchase (or to advance or supply funds for the purchase of) any security for the
payment thereof, (b) to purchase or lease property, securities or services for the purpose of assuring the owner of such Indebtedness or other obligation of the payment thereof, (c) to maintain working capital, equity capital or any other
financial statement condition or liquidity of the primary obligor so as to enable the primary obligor to pay such Indebtedness or other obligation or (d) as an account party in respect of any letter of credit or letter of guaranty issued to
support such Indebtedness or obligation; provided, that the term Guarantee shall not include endorsements for collection or deposit in the ordinary course of business. 

“Guaranty Agreement” means the Guaranty Agreement substantially in the form of Exhibit G. 

“Hazardous Substances” means any toxic, radioactive, caustic or otherwise hazardous substance, material or waste, including
petroleum, its derivatives, by-products and other hydrocarbons, in each case regulated by Environmental Laws. 
 “Hedging
Agreement” means any interest rate protection agreement, foreign currency exchange agreement, commodity price protection agreement or other interest or currency exchange rate or commodity price hedging arrangement. 

  
 10 

 “Impacted Interest Period” has the meaning set forth in the definition of
“Eurodollar Rate”. 
 “Indebtedness” of any Person means, without duplication, (a) all obligations of such
Person for borrowed money or with respect to deposits or advances of any kind, (b) all obligations of such Person evidenced by bonds, debentures, notes or similar instruments, (c) all obligations of such Person upon which interest charges
are customarily paid, excluding deferred compensation of officers and directors, (d) all obligations of such Person under conditional sale or other title retention agreements relating to property acquired by such Person, (e) all
obligations of such Person in respect of the deferred purchase price of property or services (excluding current accounts payable incurred in the ordinary course of business), (f) all Indebtedness of others secured by (or for which the holder of
such Indebtedness has an existing right, contingent or otherwise, to be secured by) any Lien on property owned or acquired by such Person, whether or not the Indebtedness secured thereby has been assumed, (g) all Guarantees by such Person of
Indebtedness of others, (h) all Capital Lease Obligations of such Person and all obligations of such Person under synthetic leases, (i) all obligations, contingent or otherwise, of such Person as an account party in respect of letters of
credit and letters of guaranty, other than letters of credit and letters of guaranty issued to support obligations (other than Indebtedness) incurred in the ordinary course of business, (j) all obligations, contingent or otherwise, of such
Person in respect of bankers’ acceptances and (k) all Invested Amounts. The Indebtedness of any Person shall include the Indebtedness of any other entity (including any partnership in which such Person is a general partner) to the
extent such Person is liable therefor as a result of such Person’s ownership interest in or other relationship with such entity, except to the extent the terms of such Indebtedness provide that such Person is not liable therefor. 

“Indemnified Costs” has the meaning specified in Section 8.06(a). 

“Indemnified Taxes” means (a) Taxes, other than Excluded Taxes, imposed on or with respect to any payment made or amount
credited by or on account of any obligation of the Borrower under any Loan Document and (b) to the extent not otherwise described in clause (a), Other Taxes. 

“Initial Term Loan Commitment” means, with respect to any Term Loan Lender, the amount set forth opposite such Lender’s
name on Schedule I hereto under the caption “Initial Term Loan Commitment” or, if such Lender has entered into one or more Assignment and Assumptions, set forth for such Lender in the Register maintained by the Administrative Agent
pursuant to Section 9.02 as such Lender’s “Initial Term Loan Commitment”, as such amount may be reduced at or prior to such time pursuant to Section 2.04. The aggregate Initial Term Loan Commitments
of all the Term Loan Lenders as of the Effective Date shall be $1,050,000,000. 
 “Initial Term Loans” means the term loans
made, or to be made, to the Borrower by the Term Loan Lenders pursuant to Section 2.01(c). 
 “Initiatives” has
the meaning specified in the definition of “Consolidated Cost Savings”. 
 “Insufficiency” means, with respect to
any Plan, the amount of unfunded benefit liabilities, as defined in Section 4001(a)(18) of ERISA, if any. 
 “Interest Election
Request” means a request by the Borrower to convert or continue a Term Loan Borrowing in accordance with Section 2.15. 

  
 11 

 “Interest Period” means, for each Eurodollar Rate Advance comprising part of the
same Term Loan Borrowing, the period commencing on the date of such Advance (or on the effective date of any election applicable to such Borrowing pursuant to Section 2.15) and ending the last day of the period selected by the Borrower
pursuant to the provisions below. The duration of each such Interest Period shall be 1, 2, 3 or 6 months or, with the consent of all the Lenders required to fund such Advance, twelve months, in each case as the Borrower may select, upon notice
received by the Administrative Agent not later than 11:00 A.M. (New York City time) on the third Business Day prior to the first day of such Interest Period; provided, however, that: 

(A) the Borrower may not select any Interest Period which ends after the applicable Termination Date; and 

(B) whenever the last day of any Interest Period would otherwise occur on a day other than a Business Day, the last day on such Interest
Period shall be extended to occur on the next succeeding Business Day, provided, that if such extension would cause the last day of such Interest Period to occur in the next following calendar month, the last day of such Interest Period shall
occur on the next preceding Business Day. 
 “Internal Separation” has the meaning specified in the Separation Agreement.

 “Interpolated Rate” means, at any time and with respect to any currency, the rate per annum (rounded to the same number
of decimal places as the relevant Screen Rate) determined by the Administrative Agent (which determination shall be conclusive and binding absent manifest error) to be equal to the rate that results from interpolating on a linear basis between:
(a) the applicable Screen Rate (for the longest period for which the applicable Screen Rate is available for the applicable currency) that is shorter than the Impacted Interest Period and (b) the applicable Screen Rate (for the shortest
period for which the applicable Screen Rate is available for the applicable currency) that exceeds the Impacted Interest Period, in each case, as of the Specified Time on the Quotation Day for such Interest Period or period, as applicable. When
determining the rate for a period which is less than the shortest period for which the applicable Screen Rate is available, the Screen Rate for purposes of clause (a) above shall be deemed to be the overnight screen rate, where “overnight
screen rate” means, in relation to any currency, the overnight rate for such currency determined by the Administrative Agent from such service as the Administrative Agent may select. 

“Invested Amounts” means the amounts invested by investors that are not Affiliates of the Company in connection with a
receivables securitization program and paid to the Company or any of its Subsidiaries, as reduced by the aggregate amounts received by such investors from the payment of receivables and applied to reduce such invested amounts. 

“IRS” means the United States Internal Revenue Service. 

“JV” means Dow-Mitsui Chlor Alkali LLC. 

“JV Credit Agreement” means the Credit Agreement, dated as of March 29, 2011, among the JV, as borrower, Sumitomo Mitsui
Banking Corporation, as administrative agent, and the lenders and other agents named therein. 
 “Lenders” means the Term
Loan Lenders listed on the signature pages hereof (until such Lender shall have assigned or had assumed all interests hereunder as provided in Sections 9.02) and each Eligible Assignee that shall become a party hereto pursuant to Sections
9.02. 

  
 12 

 “LIBO Screen Rate” has the meaning set forth in the definition of
“Eurodollar Rate”. 
 “Lien” means any mortgage, pledge, security interest, encumbrance, lien or charge of any
kind (including any conditional sale or other title retention agreement). 
 “Loan Documents” means this Agreement and the
Notes. 
 “Loan Party” has the meaning set forth in Section 10.13. 

“Local Time” means New York City time. 

“Majority Lenders” means, at any time, Lenders holding more than 50% of (a) until the Closing Date, the Commitments then
in effect and (b) thereafter, the aggregate unpaid principal amount of the Term Loans then outstanding; provided that the unused Commitments of, and the portion of the Term Loans held or deemed held by, any Defaulting Lender shall be
excluded for purposes of making a determination of Majority Lenders. 
 “Margin Stock” shall have the meaning given such
term under Regulation U issued by the Board of Governors of the Federal Reserve System. 
 “Material Acquisition” means any
Acquisition that involves the payment of consideration by the Company and its Subsidiaries in excess of $250,000,000. 
 “Material
Disposition” means any means any sale, transfer or other disposition of property or series of related sales, transfers or other dispositions of property that yields gross proceeds to the Company or any of its Subsidiaries in excess of
$250,000,000. 
 “Merger” means the merger of Merger Sub and the Borrower, with the Borrower continuing as the surviving
corporation. 
 “Merger Agreement” means the Merger Agreement, dated as of March 26, 2015, among TDCC, the Borrower,
Olin and Merger Sub, as amended, restated or otherwise modified from time to time. 
 “Merger Documentation” means
(a) the Merger Agreement, (b) all exhibits, schedules, annexes and other attachments thereto and (c) all other agreements related thereto. 

“Merger Sub” means Blue Cube Acquisition Corp., a Delaware corporation. 

“Multiemployer Plan” means a multiemployer plan, as defined in Section 4001(a)(3) of ERISA, to which the Company or any
ERISA Affiliate is making or accruing an obligation to make contributions, or has, within any of the preceding five plan years, made or accrued an obligation to make contributions. 

“Multiple Employer Plan” means a single-employer plan, as defined in Section 4001(a)(15) of ERISA, that (a) is
maintained for employees of the Company or any ERISA Affiliate and for at least one Person that is not an employee of the Company or any ERISA Affiliate or (b) was so maintained and in respect of which the Company or any ERISA Affiliate could
have liability under Section 4064 or 4069 of ERISA in the event that such plan has been or were to be terminated. 

  
 13 

 “Necessary JV Consents” means the consents necessary to permit the transfer of
TDCC’s interest in the JV to the Borrower or any Subsidiary of the Borrower. 
 “Non-Consenting Lender” means any
Lender that does not approve any consent, waiver, amendment or other modification that (i) requires the approval of all Lenders or all affected Lenders in accordance with the terms of Section 10.01 and (ii) has been approved by
the Majority Lenders. 
 “Non-Defaulting Lender” means, at any time, each Term Loan Lender that is not a Defaulting Lender
at such time. 
 “Non-Extending Lender” has the meaning specified in Section 2.04(b). 

“Note” means a Term Loan Note. 

“Notice of Borrowing” has the meaning specified in Section 2.02(a)(i)(A). 

“Officer’s Certificate” means a certificate signed in the name of the Company by its President, one of its Vice
Presidents, its Treasurer or its Controller. 
 “Olin” means Olin Corporation, a Virginia corporation. 

“Olin Credit Agreement” means the Credit Agreement dated as of June 23, 2015, among Olin, Olin Canada ULC, the lenders
named therein and Wells Fargo, as administrative agent, as amended, supplemented or otherwise modified from time to time. 
 “Other
Connection Taxes” means, with respect to any Recipient, Taxes imposed as a result of a present or former connection between such Recipient and the jurisdiction imposing such Tax (other than connections arising from such Recipient having
executed, delivered, become a party to, performed its obligations under, received payments under, received or perfected a security interest under, engaged in any other transaction pursuant to or enforced any Loan Document, or sold or assigned an
interest in any Advance or Loan Document). 
 “Other Taxes” means all present or future stamp, court, documentary,
intangible, recording, filing or similar Taxes that arise from any payment made under, from the execution, delivery, performance, enforcement or registration of, from the receipt or perfection of a security interest under, or otherwise with respect
to, any Loan Document, except any such Taxes that are Other Connection Taxes imposed with respect to an assignment (other than an assignment made pursuant to Section 2.17(b)). 

“Parent Guarantor” means the Person that executes and delivers the Guaranty Agreement as provided in
Section 5.01(k). 
 “Participant” has the meaning assigned to such term in Section 9.03. 

“Participant Register” has the meaning assigned to such term in Section 9.03. 

“PBGC” means the Pension Benefit Guaranty Corporation. 

“Performance Level” means, as of any date of determination, the level set forth below as then applicable: 

  
 14 

					
		  	 I
	  	Consolidated Leverage Ratio is less than or equal to 1.50:1.00.
			
		  	 II
	  	Consolidated Leverage Ratio is greater than 1.50:1.00 but less than or equal to 2.50:1.00.
			
		  	 III
	  	Consolidated Leverage Ratio is greater than 2.50:1.00 but less than or equal to 3.50:1.00.
			
		  	 IV
	  	Consolidated Leverage Ratio is greater than 3.50:1.00.

 For purposes of this definition, (i) the Performance Level shall be, from the Effective Date until adjusted pursuant to
clause (ii) below, (x) based on Performance Level III if the Consolidated Leverage Ratio as of the Reference Period most recently ended on or prior to the Closing Date (and calculated to give pro forma effect to the Consolidated Total Debt
as of the Closing Date) is less than or equal to 3.50:1.00 and (y) otherwise, Performance Level IV, and (ii) determined as at the end of each Reference Period ended as of the end of or after the first full fiscal quarter ending after the
Closing Date based upon the calculation of the Consolidated Leverage Ratio for such Reference Period. The Applicable Margin shall be adjusted (if necessary) upward or downward on the first day following delivery of the certificate referred to
in Section 5.01(i)(iv). 
 “Permitted Encumbrances” means: 

(a) Liens imposed by law for taxes that are not yet due or are being contested in good faith by appropriate proceedings; 

(b) carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s and other like Liens imposed by law,
arising in the ordinary course of business and securing obligations that are not overdue by more than 30 days or are being contested in good faith by appropriate proceedings; 

(c) pledges and deposits made in the ordinary course of business in compliance with workers’ compensation, unemployment insurance
and other social security laws or regulations; 
 (d) deposits to secure the performance of bids, trade contracts, leases, statutory
obligations, surety and appeal bonds, performance bonds and other obligations of a like nature, in each case in the ordinary course of business; 

(e) judgment liens in respect of judgments that do not constitute an Event of Default under Section 6.01(f); and 

(f) easements, zoning restrictions, rights-of-way and similar encumbrances on real property imposed by law or arising in the ordinary
course of business that do not secure any monetary obligations and do not materially detract from the value of the affected property or interfere with the ordinary conduct of business of the Company or any Subsidiary; 

provided that the term “Permitted Encumbrances” shall not include any Lien securing Indebtedness. 

  
 15 

 “Permitted Receivables Facility” means one or more accounts receivable
facilities established by a Receivables Subsidiary and one or more of the Company or its Subsidiaries, whereby the Company or one or more of its Subsidiaries shall sell or transfer accounts receivables of the Company or its Subsidiaries to such
Receivables Subsidiary which in turn shall transfer to a buyer, purchaser or lender undivided fractional interests in such accounts receivable (or otherwise borrow against such accounts receivable), so long as (a) no portion of the Indebtedness
or any other obligation (contingent or otherwise) under such Permitted Receivables Facility shall be guaranteed by the Company or any of its Subsidiaries (other than the Receivables Subsidiary), (b) there shall be no recourse or obligation to
the Company or any of its Subsidiaries (other than the Receivables Subsidiary) whatsoever other than pursuant to representations, warranties, covenants and indemnities entered into in the ordinary course of business in connection with such Permitted
Receivables Facility that in the reasonable opinion of the Company are customary for securitization transactions and (c) none of the Company nor any of its Subsidiaries (other than the Receivables Subsidiary) shall have provided, either
directly or indirectly, any other credit support of any kind in connection with such Permitted Receivables Facility, other than as set forth in clause (b) of this definition. 

“Person” means an individual, partnership, corporation (including a business trust), limited liability company, joint stock
company, trust, unincorporated association, joint venture or other entity, or a government or any political subdivision or agency thereof. 

“Plan” means a Single-Employer Plan or a Multiple Employer Plan. 

“Post-Petition Interest” has the meaning specified in Section 7.05(b). 

“Pro Forma Financial Statements” has the meaning assigned to such term in Section 3.01(f). 

“Quotation Day” means, with respect to any Eurodollar Rate Advance for any Interest Period, two Business Days prior to the
commencement of such Interest Period. 
 “Receivables Related Assets” means, collectively, accounts receivable,
instruments, chattel paper, obligations, general intangibles and other similar assets, in each case relating to receivables subject to a Permitted Receivables Facility, including interests in merchandise or goods, the sale or lease of which gave
rise to such receivables, related contractual rights, guarantees, insurance proceeds, collections and proceeds of all of the foregoing. 

“Receivables Subsidiary” means a Wholly Owned Subsidiary of the Company that has been established as a “bankruptcy
remote” Subsidiary for the sole purpose of acquiring accounts receivable under a Permitted Receivables Facility and that shall not engage in any activities other than in connection with a Permitted Receivables Facility. 

“Recipient” means (a) the Administrative Agent or (b) any Lender, as applicable. 

“Reference Bank Rate” means, with respect to any Eurodollar Rate Advance for any Interest Period, the arithmetic mean of the
Submitted Reference Bank Rates (rounded upward to four decimal places) in respect thereof. 
 “Reference Banks” means such
banks as may be appointed by the Administrative Agent as Reference Banks in consultation with the Company and as consented to by such bank. 

  
 16 

 “Reference Period” means any period of four consecutive fiscal quarters of the
Company. 
 “Refinancing” means the termination of the commitments, and payment in full of all Indebtedness, interest, fees
and other amounts outstanding, under (a) the Company’s existing credit agreement (if any) and (b) in the event that the Company and/or TDCC cannot obtain the Necessary JV Consents, the JV Credit Agreement. 

“Register” has the meaning specified in Section 9.02(d). 

“Regulation FD” has the meaning specified in Section 10.12. 

“Related Parties” means, with respect to any Person, such Person’s Affiliates and the partners, directors, officers,
employees, representatives, controlling persons and agents, including accountants, legal counsel and other advisors of such Person and of such Person’s Affiliates. 

“Replaced Term Loan” has the meaning assigned to such term in Section 10.01. 

“Replacement Term Loan” has the meaning assigned to such term in Section 10.01. 

“Sanctioned Person” means any Person described in Section 4.01(k)(i)(x), (y) or (z). 

“Sanctions” has the meaning specified in Section 4.01(k). 

“S&P” means Standard and Poor’s Financial Services LLC and any successor thereto. 

“Screen Rate” means the LIBO Screen Rate. 

“SEC” means the Securities and Exchange Commission. 

“Separation” has the meaning specified in the Separation Agreement. 

“Separation Agreement” means the Separation Agreement, dated as of March 26, 2015, between TDCC and the Borrower, as
amended, restated or otherwise modified from time to time. 
 “Separation Documentation” means (a) the Separation
Agreement, (b) all exhibits, schedules, annexes and other attachments thereto and (c) all other agreements related thereto. 

“Significant Subsidiary” means each Subsidiary, but excludes any Subsidiary the US Dollar value (or equivalent thereof) of
whose assets is less than 5% of the total assets of the Company and the Subsidiaries, on a consolidated basis. 
 “Single-Employer
Plan” means a single-employer plan, as defined in Section 4001(a)(15) of ERISA, that (a) is maintained by the Company or any ERISA Affiliate solely for employees of the Company or any ERISA Affiliate or (b) was so maintained
and in respect of which the Company or any ERISA Affiliate could have liability under Section 4069 of ERISA in the event that such plan has been or were to be terminated. 

“Solvent” means (a) each of the Fair Value and the Present Fair Salable Value of the assets of the Company and its
Subsidiaries taken as a whole exceed their Stated Liabilities and Identified Contingent Liabilities, (b) the Company and its Subsidiaries taken as a whole do not have Unreasonably Small Capital and (c) the Company and its Subsidiaries
taken as a whole can pay their Stated Liabilities and Identified Contingent Liabilities as they mature. Terms used in this definition and not otherwise defined in this Agreement have the meanings assigned thereto in Exhibit F hereto. 

  
 17 

 “Specified Merger Agreement Representations” means such of the representations
and warranties made by TDCC or the Borrower in the Merger Agreement as are material to the interests of the Lenders, but only to the extent that Olin (or an Affiliate of Olin) has the right to terminate its obligations under the Merger Agreement or
decline to consummate the Merger as a result of a breach of such representations and warranties in the Merger Agreement. 

“Specified Representations” means those representations and warranties set forth in Sections 4.01(a) (solely as to
organization, existence and corporate powers of the Borrower), (b)(i), (b)(ii)(x), (d), (g), (h), (k)(ii), (l) (solely as to use of proceeds of any borrowing under this Agreement),
(m) and (n). 
 “Specified Time” means 11:00 A.M., London time. 

“Submitted Reference Bank Rate” means, as to any Reference Bank, the rate (rounded upward to four decimal places) supplied to
the Administrative Agent at its request by such Reference Bank as of the Specified Time on the Quotation Day for the applicable Interest Period as the rate at which such Reference Bank could borrow funds in the London interbank market for the
relevant period, were it to do so by asking for and then accepting interbank offers in reasonable market size in US Dollars and for that period; provided that upon supplying such Submitted Reference Bank Rate to the Administrative Agent, such
Reference Bank shall certify that it has not submitted or shared such Submitted Reference Bank Rate with any individual who is formally designated as being involved in the ICE LIBOR submission process. 

“Subordinated Obligations” has the meaning specified in Section 7.05. 

“Subsidiary” means, as at any particular time, any Person controlled by the Company the accounts of which would be
consolidated with those of the Company in the Company’s consolidated financial statements if such financial statements were to be prepared at such time in accordance with GAAP. 

“Taxes” means all present or future taxes, levies, imposts, duties, deductions, withholdings (including backup withholding),
assessments, fees or other charges imposed by any Governmental Authority, including any interest, fines, additions to tax or penalties applicable thereto. 

“Tax-Exempt Financing” means a transaction with a governmental unit or instrumentality which involves (i) the issuance
by such governmental unit or instrumentality to Persons other than the Company or a Subsidiary of bonds or other obligations on which the interest is exempt from Federal income taxes under Section 103 of the Code and the proceeds of which are
applied to finance or refinance the cost of acquisition of equipment or facilities of the Company or any of its subsidiaries, and (ii) participation in the transaction by the Company or a Subsidiary in any manner permitted by this Agreement.

 “TDCC” means The Dow Chemical Company, a Delaware corporation. 

“TDCC Credit Agreement” means the Five Year Competitive Advance and Revolving Credit Facility Agreement, dated as of
March 24, 2015, among TDCC, the banks parties thereto and Citibank, N.A., as amended, modified or waived (but without giving effect to any amendment, modification or waiver thereunder that is material and adverse to the Lenders). 

  
 18 

 “TDCC Covenants” means the covenants set forth in Sections 5.01 through 5.09
(other than Section 5.09(a) and (b)) of the TDCC Credit Agreement, as such covenants are in effect as of the Closing Date and as amended or modified thereafter (but without giving effect to (i) any waiver, or other amendment or
modification having the effect of a waiver, of such provisions or (ii) any amendments or modifications to the TDCC Credit Agreement as in effect on the Closing Date that are material and adverse to the interests of the Lenders). 

“TDCC Events of Default” means Sections 6.01(e), 6.01(f), 6.01(g), 6.01(h) and 6.01(i) of the TDCC Credit Agreement, as such
events of default are in effect as of the Closing Date, and as amended or modified thereafter (but without giving effect to (i) any waiver, or other amendment or modification having the effect of a waiver, of any TDCC Event of Default or
(ii) any amendments or modifications to the TDCC Credit Agreement as in effect on the Closing Date that are material and adverse to the interests of the Lenders). 

“TDCC Guaranteed Period” means the period during which the Guaranty Agreement is effective with TDCC as the Parent Guarantor.

 “Term Loan Borrowing” means a borrowing consisting of Term Loans of the same Type (and, in the case of a borrowing
consisting of Eurodollar Rate Advances, having the same Interest Period) made by the Term Loan Lenders. 
 “Term Loan
Commitment” means an Initial Term Loan Commitment. 
 “Term Loan Lender” means any Person with a Term Loan
Commitment or an outstanding Term Loan. 
 “Term Loan Note” means a promissory note of the Borrower payable to any Term
Loan Lender and its registered assigns, in substantially the form of Exhibit A hereto, evidencing the portion of the Term Loans made to the Borrower by such Term Loan Lender. 

“Term Loans” means the Initial Term Loans and refers to a Base Rate Advance or a Eurodollar Advance (each of which shall be a
“Type” of Term Loan). 
 “Termination Date” means with respect to the Initial Term Loans, the date that is
five years after the Closing Date (or the earlier date on which the Initial Term Loans have been accelerated pursuant to Section 6.01). 

“Transactions” means, in each case to the extent actually occurring, (a) the consummation of the Internal Separation,
(b) the consummation of the Merger, (c) the Refinancing, (d) the issuance by the Borrower of its senior unsecured notes to TDCC or, if elected by TDCC in accordance with Section 7.08(e) of the Merger Agreement, the drawing under
a senior unsecured bridge facility of an amount not less than the Above Basis Amount (as defined in the Separation Agreement), (e) the issuance by the Borrower of its senior unsecured notes, the drawing under a senior unsecured bridge facility
or any combination thereof, the proceeds of which will be used, together with the proceeds of the Initial Term Loan, to (i) finance a special cash dividend to TDCC, (ii) pay fees and expenses in connection with the Transactions,
(iii) effect the Refinancing and (iv) provide funds for general corporate purposes, (f) the execution, delivery and performance by the Borrower of this Agreement and the other Loan Documents, the borrowing of the Advances on the
Closing Date and the use of proceeds of such Advances and (g) the payment of fees and expenses in connection with the foregoing. 

  
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 “Type” shall have the meaning given such term in the definitions of Term Loan.

 “United States” or “U.S.” means the United States of America. 

“US Dollars” and the “US$” sign each means lawful currency of the United States. 

“US Person” means any Person that is a “United States Person” as defined in Section 7701(a)(30) of the Code.

 “US Tax Compliance Certificate” has the meaning assigned thereto in Section 2.14(g). 

“Voting Rights” means, as to any corporation or any other entity, ordinary voting power (whether associated with outstanding
common stock or outstanding preferred stock, or both, or other outstanding equity interests, as applicable) to elect members of the Board of Directors of such corporation or other entity (irrespective of whether or not at the time capital stock of
any class or classes of such corporation or entity shall or might have voting power or additional voting power upon the occurrence of any contingency). 

“Wells Fargo” means Wells Fargo Bank, National Association, a national banking association. 

“Wholly Owned” means, with respect to any corporation or other entity, a corporation or other entity of which 100% of the
Voting Rights (other than Voting Rights represented by directors’ qualifying shares or shares required by law to be owned by a resident of the relevant jurisdiction) are at the time directly or indirectly owned by the Company, by the Company
and one or more other Wholly Owned Subsidiaries, or by one or more other Wholly Owned Subsidiaries. 
 “Withdrawal
Liability” shall have the meaning given such term under Part I of Subtitle E of Title IV of ERISA. 
 “Withholding
Agent” means the Borrower and the Administrative Agent. 
 Section 1.02 Other Definitions and
Provisions. With reference to this Agreement and each other Loan Document, unless otherwise specified herein or in such other Loan Document or the context otherwise requires: (a) the definitions of terms herein shall apply equally to
the singular and plural forms of the terms defined, (b) whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms, (c) the words “include”, “includes” and
“including” shall be deemed to be followed by the phrase “without limitation”, (d) the word “will” shall be construed to have the same meaning and effect as the word “shall”, (e) any reference herein
to any Person shall be construed to include such Person’s successors and assigns (subject to any restrictions on assignment set forth herein), (f) the words “herein”, “hereof” and “hereunder”, and words of
similar import, shall be construed to refer to this Agreement in its entirety and not to any particular provision hereof, (g) all references herein to Articles, Sections, Exhibits and Schedules shall be construed to refer to Articles and
Sections of, and Exhibits and Schedules to, this Agreement, (h) the words “asset” and “property” shall be construed to have the same meaning and effect and to refer to any and all tangible and intangible assets and
properties, including cash, securities, accounts and contract rights and (i) the term “documents” includes any and all instruments, documents, agreements, certificates, notices, reports, financial statements and other writings,
however evidenced, whether in physical or electronic form. 

  
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 Section 1.03 Computation of Time Periods. (a) In this Agreement and the
other Loan Documents in the computation of periods of time from a specified date to a later specified date, the word “from” means “from and including” and the words “to” and “until” each means “to but
excluding”. 
 (b) In this Agreement and the other Loan Documents each reference to a year shall be a reference to the twelve
consecutive months beginning January 1 in such year and ending December 31 in such year and each reference to a quarter shall be a reference to one of the three consecutive month periods beginning
January 1, April 1, July 1 or October 1, in each year. 
 Section 1.04 Accounting
Terms. (a) All accounting terms not specifically defined herein shall be construed in accordance with GAAP. “GAAP” shall mean generally accepted accounting principles as in effect from time to time;
provided that if the Company notifies the Administrative Agent that the Company requests an amendment to any provision hereof to eliminate the effect of any change occurring after the date of this Agreement in GAAP, or in the application
thereof, on the operation of such provision (or if the Administrative Agent notifies the Company that the Majority Lenders request an amendment to any provision hereof for such purpose), regardless of whether any such notice is given before or after
such change in GAAP, or in the application thereof, then such provision shall be interpreted on the basis of GAAP as in effect and applied immediately before such change shall have become effective until such notice shall have been withdrawn or such
provision amended in accordance with Section 10.01. 
 (b) Notwithstanding anything to the contrary contained in paragraph
(a) above or the definition of “Capital Lease Obligations”, in the event of an accounting change requiring leases to be capitalized, only those leases (assuming for purposes hereof that they were in existence on the Effective Date)
that would constitute capital leases on the Effective Date shall be considered capital leases and all calculations hereunder shall be made accordingly. 

ARTICLE II 
 AMOUNTS AND TERMS OF
THE ADVANCES 
 Section 2.01 The Initial Term Loans. (a) [reserved] 

(b) [reserved] 

(c) Initial Term Loans. Each Term Loan Lender with an Initial Term Loan Commitment severally agrees, on the terms and
conditions hereinafter set forth, to make Initial Term Loans in US Dollars to the Borrower in a single drawing on the Closing Date in a principal amount requested by the Borrower not to exceed the lesser of (A) such Term Loan Lender’s
Initial Term Loan Commitment and (B) such Term Loan Lender’s pro rata share of the Below Basis Amount. For purposes of this Section 2.01(c), “pro rata share” means, with respect to any Term Loan Lender, the ratio of
such Lender’s Initial Term Loan Commitment to the aggregate Initial Term Loan Commitments of all Term Loan Lenders. Each Term Loan Lender’s unfunded Initial Term Loan Commitment shall terminate automatically at the earlier of
(x) 5:00 P.M. (New York City time) on the Closing Date and (y) 11:59 P.M. (New York City time) on December 26, 2015 (or, if the Termination Date (as defined in the Merger Agreement as in effect as of March 26, 2015) is extended
pursuant to Section 9.01(a) of the Merger Agreement, March 26, 2016). 

  
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 Section 2.02 Making the Advances. (a) Making the Term
Loans. (i) (A) Each Term Loan Borrowing shall be made on notice, given not later than 11:00 A.M. Local Time, (x) in the case of Eurodollar Rate Advances, on the third Business Day prior to the date of the proposed Borrowing
or (y) in the case of Base Rate Advances, on the day of the proposed Borrowing, by the Borrower to the Administrative Agent, which shall give to each appropriate Lender prompt notice thereof by telecopier. Each such notice of a Term Loan
Borrowing (a “Notice of Borrowing”) shall be by telephone, confirmed immediately in writing, in substantially the form of Exhibit B hereto, specifying therein the requested (I) date of such Term Loan Borrowing, (II) Type
of Advances comprising such Term Loan Borrowing, (III) aggregate amount of such Term Loan Borrowing, (IV) [reserved] and (V) in the case of a Eurodollar Rate Advance, the Interest Period for each such Term Loan Borrowing. Each Lender
shall, before 1:00 P.M. (Local Time) on the date of such Term Loan Borrowing make available for the account of its Applicable Lending Office to the Administrative Agent, in the Administrative Agent’s Account, in same day funds, such
Lender’s ratable portion of such Term Loan Borrowing. After the Administrative Agent’s receipt of such funds and upon fulfillment of the applicable conditions set forth in Article III, the Administrative Agent, as applicable,
will make such funds available to the Borrower at the Administrative Agent’s address set forth on Schedule 10.02. 

(B) The failure of any Lender to make the Term Loan to be made by it as part of any Term Loan Borrowing shall not relieve any other
Lender of its obligation, if any, hereunder to make its Term Loan on the date of such Term Loan Borrowing, but no Lender shall be responsible for the failure of any other Lender to make the Term Loan to be made by such other Lender on the date of
any Term Loan Borrowing. 
 (ii) Anything in subsection (i) above to the contrary notwithstanding, 

(A) if any Lender shall, at least one Business Day before the date of any requested Term Loan Borrowing comprised of Eurodollar Rate
Advances, notify the Administrative Agent (with a copy to the Borrower) that the introduction of or any change in or in the interpretation of any law or regulation by any court, authority or agency, or any other governmental, judicial or regulatory
body, makes it unlawful, or that any central bank or other Governmental Authority asserts that it is unlawful, for such Lender or its Eurodollar Lending Office to perform its obligations hereunder to make Eurodollar Rate Advances or to fund or
maintain Eurodollar Rate Advances hereunder, the right of the Borrower to select Eurodollar Rate Advances for such Term Loan Borrowing or any subsequent Term Loan Borrowing, with respect to such Lender (only), shall be suspended until such Lender
shall notify the Administrative Agent (with a copy to the Borrower) that the circumstances causing such suspension no longer exist or such Lender shall cease to be a party hereto, and each Term Loan comprising such Term Loan Borrowing shall, with
respect to such Lender (only), be a Base Rate Advance of an equivalent amount and for an approximately equivalent term, provided that if all the Lenders so notify the Administrative Agent, the Administrative Agent shall so notify the Borrower
and the Notice of Borrowing in respect of such requested Term Loan Borrowing shall be automatically revoked; 
 (B) in the event that
it is necessary to determine the Eurodollar Rate with reference to the Reference Banks, and if none of the Reference Banks furnish timely information to the Administrative Agent for determining the Eurodollar Rate for Eurodollar Rate Advances
comprising any requested Term Loan Borrowing, the right of the Borrower to select Eurodollar Rate Advances for any such Term Loan Borrowing or any subsequent Term Loan Borrowing shall be suspended until the Administrative Agent shall notify the
Borrower and the Lenders that the circumstances causing such suspension no longer exist, and each Advance comprising such Term Loan Borrowing shall be a Base Rate Advance; and 

  
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 (C) if Term Loan Lenders having more than 50% of the Term Loan Commitments shall, at least
one Business Day before the date of any requested Term Loan Borrowing comprised of Eurodollar Rate Advances, notify the Administrative Agent (with a copy to the Borrower) that the Eurodollar Rate for Eurodollar Rate Advances comprising such Term
Loan Borrowing will not adequately reflect the cost to such Lenders of making or funding their respective Eurodollar Rate Advances for such Term Loan Borrowing, the Notice of Borrowing given in respect of such requested Term Loan Borrowing shall be
automatically revoked and the right of the Borrower to select Eurodollar Rate Advances for such Term Loan Borrowing or any subsequent Term Loan Borrowing shall be suspended until such Lenders shall notify the Administrative Agent (with a copy to the
Borrower) and the other Lenders that the circumstances causing such suspension no longer exist. The Lenders giving a notice under this subclause (C) shall, promptly after giving such notice, provide the Company (with a copy to the
Administrative Agent) with an explanation, in reasonable detail, as to the circumstances causing such suspension. 
 (D) Anything in
subsection (i) above to the contrary notwithstanding, the Borrower may not select Eurodollar Rate Advances for any Term Loan Borrowing if the aggregate amount of such Term Loan Borrowing is less than the Borrowing Minimum. 

(iii) Each Notice of Borrowing (subject to (ii)(A) and (ii)(C) above) shall be irrevocable and binding on the Borrower. In the case
of any Term Loan Borrowing which the related Notice of Borrowing specifies is to be comprised of Eurodollar Rate Advances, the Borrower shall indemnify each Lender against any loss, cost or expense incurred by such Lender as a result of any failure
to fulfill on or before the date specified in such Notice of Borrowing for such Term Loan Borrowing the applicable conditions set forth in Article III, including any loss (excluding loss of anticipated profits), cost or expense incurred
by reason of the liquidation or reemployment of deposits or other funds acquired by such Lender to fund the Advance to be made by such Lender as part of such Term Loan Borrowing when such Advance, as a result of such failure, is not made on such
date. Each Lender claiming indemnity for any such loss, cost or expense under this clause (iii) shall provide, at the time of making such claim, the Borrower (with a copy to the Administrative Agent) with reasonable details, including the
basis for the calculation thereof, of such loss, cost or expense, provided that, in the absence of manifest error, the amount of such claims so notified shall be conclusive and binding upon the Borrower. 

(iv) Unless the Administrative Agent shall have received notice from a Lender prior to the date of any Term Loan Borrowing that such
Lender will not make available to the Administrative Agent such Lender’s ratable portion of such Term Loan Borrowing, the Administrative Agent may assume that such Lender has made such portion available to the Administrative Agent on the date
of such Term Loan Borrowing in accordance with subsection (i) of this Section 2.02(a) and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If
and to the extent that such Lender shall not have so made such ratable portion available to the Administrative Agent, such Lender and the Borrower severally agree to repay to the Administrative Agent forthwith on demand such corresponding amount
together with interest thereon, for each date from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the Borrower, the Base Rate and (ii) in the
case of such Lender, the Federal Funds Rate. If the Borrower shall pay such interest to the Administrative Agent for the same or an overlapping period, the Administrative Agent shall promptly remit to the Borrower the amount of such interest
paid by the Borrower for such period. If such Lender shall repay to the Administrative Agent such corresponding amount, such amount so repaid shall constitute such Lender’s Advance as part of such Term Loan Borrowing for purposes of this
Agreement. Any payment by the Borrower shall be without prejudice to any claim the Borrower may have against a Lender that shall have failed to make such payment to the Administrative Agent. 

  
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 Section 2.03 Fees. 

(a) [Reserved] 

(b) [Reserved] 

(c) Administrative Agent’s Fees. The Company shall pay to the Administrative Agent for its own account such fees as may
from time to time be agreed between the Company and the Administrative Agent. 
 Section 2.04 Reduction, Increase and Extension
of the Commitments. 
 (a) Voluntary Commitment Reductions. The Company shall have the right, upon at least two
Business Days’ notice to the Administrative Agent, to terminate in whole or permanently reduce ratably in part the Term Loan Commitments, provided that (i) each partial reduction shall be in the aggregate amount of US$10,000,000 or an
integral multiple of US$1,000,000 in excess thereof and (ii) any notice of termination may state that such notice is conditioned upon the effectiveness of other credit facilities, the incurrence of other Indebtedness or the issuance of equity
interests of the Company or any of its Subsidiaries, in which case such notice may be revoked by the Company (by notice to the Administrative Agent) if such condition is not satisfied; provided that prior to the consummation of the Merger,
the Company shall not terminate in whole or permanently reduce in part the Term Loan Commitments without the express written consent of Olin unless the Merger Agreement shall have been terminated in accordance with Section 9.01
thereof. The parties agree that this Section 2.04(a) shall inure to the benefit of Olin as a third party beneficiary. 

(b) Extension of Termination Date. Not later than the date 45 days prior to the applicable Termination Date then in effect,
the Company may deliver to the Administrative Agent a notice requesting that the Term Loans be extended to such date as the Company may specify in such notice (the “Extended Termination Date”), and the Administrative Agent shall
promptly forward such notice to the Lenders. Within 10 days after its receipt of any such notice, each Lender shall notify the Administrative Agent of its willingness or unwillingness so to extend all of its Term Loans. Any Lender which
shall fail so to notify the Administrative Agent within such period shall be deemed to have declined to extend its Term Loans. In the event that Lenders having outstanding Term Loans equal to 35% or more of the aggregate Term Loans outstanding
at such time shall be willing to extend their respective Term Loans, the Administrative Agent shall so notify the Company and each Lender and the applicable Termination Date for each consenting Lender shall without further action be extended to the
Extended Termination Date. In the event that any Lender shall be unwilling to extend its Term Loans, the Term Loans of such Lender will not be extended and the applicable Termination Date as to that Lender shall remain unchanged. The scheduled
amortization payments of principal of any extended Term Loans occurring after the original applicable Termination Date shall be determined by the Term Loan Lenders that have agreed to such extension and the Company. The Company may replace any
Lender that has not agreed to extend its Term Loans (a “Non-Extending Lender”) pursuant to Section 2.17(b). Notwithstanding the terms of Section 10.01, the Company and the Administrative Agent shall be
entitled (with the consent of the extending Lenders, but without the consent of any other Lenders) to enter into any amendments to this Agreement that the Administrative Agent and the Company believe are necessary to appropriately reflect any
extension pursuant to this Section 2.04(b). 

  
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 Section 2.05 Initial Term Loans. The Borrower shall repay to the Administrative
Agent for the ratable account of the applicable Term Loan Lenders, on the last Business Day of each fiscal quarter ending after the Closing Date (commencing with the first full fiscal quarter after the Closing Date), a principal amount of the
Initial Term Loans equal to (i) for each of the first eight full fiscal quarters ending after the Closing Date, 1.250%, (ii) for each of the next four full fiscal quarters, 1.875% and (iii) for each of the next seven full fiscal
quarters, 2.500%, in each case of the aggregate outstanding principal amount of the Initial Term Loans as of the Closing Date. If not sooner paid, the Initial Term Loans shall be paid in full, together with accrued interest thereon, on the
applicable Termination Date. 
 Section 2.06 Interest. The Borrower shall pay interest on the unpaid principal amount
of each Term Loan owing by it to each Lender from the date of such Term Loan until such principal amount shall be paid in full, at the following rates per annum: 

(a) Base Rate Advances. If such Term Loan is a Base Rate Advance, a rate per annum equal at all times to the sum of the Base
Rate in effect from time to time, plus the Applicable Margin, payable in arrears on (A) the last day of each quarter and (B) the date such Base Rate Advance shall be paid in full; provided that any amount of principal which
is not paid when due (whether at stated maturity, by acceleration or otherwise) shall bear interest, from the date on which such amount is due until such amount is paid in full, payable on demand, at a rate per annum equal at all times to
2.00% per annum above the Base Rate plus the Applicable Margin. 
 (b) Eurodollar Rate Advances. If such Term
Loan is a Eurodollar Rate Advance, a rate per annum equal at all times during the Interest Period for such Term Loan to the sum of the Eurodollar Rate for such Interest Period, plus the Applicable Margin, payable in arrears on (A) if the
Interest Period in respect of such Advance is less than or equal to three months, the last day of such Interest Period, or (B) if the Interest Period in respect of such Advance is greater than three months, the last day of each three-month
period (beginning the first day of such Interest Period) occurring during that Interest Period, and also on the last day of such Interest Period; provided that any amount of principal which is not paid when due (whether at stated maturity, by
acceleration or otherwise) shall bear interest, from the date on which such amount is due until such amount is paid in full, payable on demand, at a rate per annum equal at all times to 2.00% per annum above the Base Rate in effect from time to
time plus the Applicable Margin. 
 Section 2.07 Additional Interest on Eurodollar Rate Advances. The Borrower
shall pay to the Administrative Agent for the account of each Lender additional interest on the unpaid principal amount of each Eurodollar Rate Advance of such Lender made to the Borrower, from the date of such Term Loan until such principal amount
is paid in full, at an interest rate per annum equal at all times to the remainder obtained by subtracting (i) the Eurodollar Rate for the Interest Period for such Term Loan from (ii) the rate obtained by dividing such Eurodollar Rate by a
percentage equal to 100% minus the Eurodollar Rate Reserve Percentage of such Lender for such Interest Period, payable on each date on which interest is payable on such Term Loan. Such additional interest shall be determined by such
Lender and notified to the Borrower and the Administrative Agent. Each Lender notifying the Borrower and the Administrative Agent of such additional interest shall provide the Borrower (with a copy to the Administrative Agent), at the time of
such notification, with reasonable details, including the basis for the calculation thereof, of such additional interest, provided that, in the absence of manifest error, the amount of such additional interest so notified shall be conclusive
and binding upon the Borrower. 

  
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 Section 2.08 Interest Rate Determination. (a) If the Eurodollar Rate
cannot be determined by reference to the Reuters Screen LIBOR01 Page or any successor page (as provided in the definition of “Eurodollar Rate”) or by reference to an Interpolated Rate, each Reference Bank agrees to furnish to the
Administrative Agent timely information for the purpose of determining each Eurodollar Rate. Subject to Section 2.02(a)(ii)(B), if any of the Reference Banks shall not furnish such timely information to the Administrative Agent for
the purpose of determining any such interest rate, the Administrative Agent shall determine such interest rate on the basis of timely information furnished by the remaining Reference Bank. 

(b) The Administrative Agent shall give prompt notice to the Borrower and the applicable Lenders of the applicable interest rate
determined by the Administrative Agent for purposes of Section 2.06(a) or (b), and the applicable rate, if any, furnished by each Reference Bank for the purpose of determining the applicable interest rate. 

Section 2.09 Prepayments. Optional Prepayments. The Borrower shall have the right to prepay any principal
amount of any Term Loans (i) upon same-day notice in the case of Base Rate Advances or (ii) upon at least two Business Days’ notice in the case of Eurodollar Rate Advances, to the Administrative Agent stating the proposed date and
aggregate principal amount of the prepayment, and if such notice is given, the Borrower shall prepay the outstanding principal amounts of the Term Loans comprising part of the same Term Loan Borrowing in whole or ratably in part, together with
accrued interest to the date of such prepayment on the principal amount prepaid; provided, however, that (i) each partial prepayment shall be in an aggregate principal amount not less than the Borrowing Minimum or the Borrowing
Multiple in excess thereof and (ii) in the event of any such prepayment of a Eurodollar Rate Advance, the Borrower shall be obligated to reimburse the Lenders in respect thereof pursuant to Section 10.04(b). Each prepayment of Term
Loans shall be applied to reduce in direct order of maturity (or as otherwise directed by the Company) the remaining scheduled principal installments of such Term Loans. 

Section 2.10 Increased Costs. 

(a) Increased Costs Generally. If any Change in Law shall: 

(i) subject any Recipient to any Taxes (other than (A) Indemnified Taxes, (B) Taxes described in clauses (b) through
(d) of the definition of Excluded Taxes and (C) Connection Income Taxes) on its loans, loan principal, letters of credit, commitments, or other obligations, or its deposits, reserves, other liabilities or capital attributable thereto; 

(ii) impose, modify or deem applicable any reserve, special deposit, compulsory loan, insurance charge or similar requirement against
assets of, deposits with or for the account of, or credit extended or participated in by, any Lender (except any reserve requirements reflected in the Eurodollar Rate Reserve Percentage); or 

(iii) impose on any Lender or the London interbank market any other condition, cost or expense (other than Taxes) affecting this
Agreement, Eurodollar Rate Advances made by such Lender; 
 and the result of any of the foregoing shall be to increase the cost to such Lender or such
other Recipient of making, converting to, continuing or maintaining any Advance (or of maintaining its obligation to make any such Advance), or to reduce the amount of any sum received or receivable by such Lender or other Recipient hereunder
(whether of principal, interest or any other amount) then, upon written request of such Lender or other Recipient, the Borrower shall promptly pay to any such Lender or other Recipient, as the case may be, such additional amount or amounts as will
compensate such Lender or other Recipient, as the case may be, for such additional costs incurred or reduction suffered. 

  
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 (b) Capital Requirements. If any Lender determines that any Change in Law
affecting such Lender or any lending office of such Lender or such Lender’s holding company, if any, regarding capital or liquidity requirements, has or would have the effect of reducing the rate of return on such Lender’s capital or on
the capital of such Lender’s holding company, if any, as a consequence of this Agreement, the Commitment of such Lender or the Advances made by such Lender, to a level below that which such Lender or such Lender’s holding company could
have achieved but for such Change in Law (taking into consideration such Lender’s policies and the policies of such Lender’s holding company with respect to capital adequacy), then from time to time upon written request of such Lender the
Borrower shall promptly pay to such Lender such additional amount or amounts as will compensate such Lender or such Lender’s holding company for any such reduction suffered. 

(c) [Reserved] 

(d) Certificates for Reimbursement. A certificate of a Lender or such other Recipient setting forth the amount or amounts
necessary to compensate such Lender such other Recipient or any of their respective holding companies, as the case may be, as specified in paragraph (a) or (b) of this Section and delivered to the Company, shall be conclusive absent
manifest error. The Borrower shall pay such Lender or such other Recipient, as the case may be, the amount shown as due on any such certificate within 10 days after receipt thereof. 

(e) Delay in Requests. Failure or delay on the part of any Lender or such other Recipient to demand compensation pursuant to
this Section shall not constitute a waiver of such Lender’s or such other Recipient’s right to demand such compensation; provided that the Borrower shall not be required to compensate any Lender or any other Recipient pursuant to
this Section for any increased costs incurred or reductions suffered more than 270 days prior to the date that such Lender or such other Recipient, as the case may be, notifies the Company of the Change in Law giving rise to such increased costs or
reductions, and of such Lender’s or such other Recipient’s intention to claim compensation therefor (except that if the Change in Law giving rise to such increased costs or reductions is retroactive, then the 270-day period referred to
above shall be extended to include the period of retroactive effect thereof). 
 Section 2.11 Payments and
Computations. (a) The Borrower shall make each payment required to be made by it hereunder and under the Notes, irrespective of any right of counterclaim or set-off, not later than 1:00 P.M. (New York City time) on the day when due to
the Administrative Agent for the account of the applicable Lender, in the Administrative Agent’s Account, in US Dollars in same day funds. The Administrative Agent will promptly thereafter cause to be distributed like funds relating to the
payment of principal or interest or fees ratably (other than amounts payable pursuant to Sections 2.07, 2.10, 2.14 or 10.04(b)) to the Lenders entitled thereto for the account of their respective Applicable Lending
Offices, and like funds relating to the payment of any other amount payable to any Lender to such Lender for the account of its Applicable Lending Office, in each case to be applied in accordance with the terms of this Agreement. Upon its
acceptance of an Assignment and Assumption and recording of the information contained therein in the Register pursuant to Section 9.02, from and after the effective date specified in each Assignment and Assumption, the Administrative
Agent shall make all payments hereunder and under the Notes in respect of the interest assigned thereby to the Lender assignee thereunder, and the parties to such Assignment and Assumption shall make all appropriate adjustments in such payments for
periods prior to such effective date directly between themselves. 

  
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 (b) All computations of interest with respect to the Advances based on clause (a) of
the definition of Base Rate and of fees (other than the commitment fee) shall be made by the Administrative Agent on the basis of a year of 365 or 366 days, as the case may be, and all computations of (i) interest with respect to the Term Loans
based on clause (b) of the definition of Base Rate, the Eurodollar Rate or the Federal Funds Rate and (ii) interest pursuant to Section 2.07 shall be made by the Administrative Agent on the basis of a year of 360 days, in each
case for the actual number of days (including the first day but excluding the last day) occurring in the period for which such interest, fee or commission is payable. Each determination by the Administrative Agent (or, in the case of
Section 2.07, by a Lender) of an interest rate hereunder shall be conclusive and binding for all purposes, absent manifest error. 

(c) Whenever any payment hereunder or under the Notes shall be stated to be due on a day other than a Business Day, such payment shall be
made on the next succeeding Business Day, and such extension of time shall in such case be included in the computation of payment of interest and fees, as the case may be; provided, however, if such extension would cause payment of
interest on or principal of Eurodollar Rate Advances to be made in the next following calendar month, such payment shall be made on the next preceding Business Day. 

(d) Unless the Administrative Agent shall have received notice from the Borrower prior to the date on which any payment is due to the
Lenders hereunder that the Borrower will not make such payment in full, the Administrative Agent may assume that the Borrower has made such payment in full to the Administrative Agent on such date and the Administrative Agent may, in reliance upon
such assumption, cause to be distributed to each Lender on such due date an amount equal to the amount then due such Lender. If and to the extent the Borrower shall not have so made such payment in full to the Administrative Agent, each Lender
shall repay to the Administrative Agent forthwith on demand such amount distributed to such Lender, together with interest thereon, for each day from the date such amount is distributed to such Lender, until the date such Lender repays such amount
to the Administrative Agent at the Federal Funds Rate. 
 Section 2.12 Evidence of Indebtedness. (a) Each Lender
shall maintain in accordance with its usual practice an account or accounts evidencing the indebtedness of the Borrower to such Lender resulting from each Term Loan owing to such Lender from time to time, including the amounts of principal and
interest payable and paid to such Lender from time to time hereunder in respect of Term Loans. The Borrower agrees that upon notice by any Lender to the Borrower (with a copy of such notice to the Administrative Agent) to the effect that a Term
Loan Note is required or appropriate in order for such Lender to evidence (whether for purposes of pledge, enforcement or otherwise) the Term Loans owing to, or to be made by, such Lender, the Borrower shall promptly execute and deliver to such
Lender a Term Loan Note payable to such Lender and its registered assigns in a principal amount up to the Term Loan Commitment (or outstanding Term Loan) of such Lender. 

(b) The Register maintained by the Administrative Agent pursuant to Section 9.02 shall include a control account, and a
subsidiary account for each Lender, in which accounts (taken together) shall be recorded (i) the date and amount of each Borrowing made hereunder, the Type of Advances comprising such Borrowing and, if appropriate, the Interest Period
applicable thereto, (ii) the terms of each Assignment and Assumption delivered to and accepted by it, (iii) the amount of any principal or interest due and payable or to become due and payable from the Borrower to each Lender hereunder and
(iv) the amount of any sum received by the Administrative Agent from the Borrower hereunder and each Lender’s share thereof. 

(c) Entries made in good faith by the Administrative Agent in the Register pursuant to subsection (b) above, and by each Lender in
its account or accounts pursuant to subsection (a) above, shall be prima facie evidence of the amount of principal and interest due and payable or to become due and payable from the Borrower to, in the case of the Register,
each Lender and, in the case of such account or accounts, such Lender, under this Agreement, absent manifest error; provided, however, that the failure of the Administrative Agent or such Lender to make an entry, or any finding that an
entry is incorrect, in the Register or such account or accounts shall not limit or otherwise affect the obligations of the Borrower under this Agreement. 

  
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 Section 2.13 Sharing of Payments, Etc. If any Term Loan Lender shall obtain
any payment (whether voluntary, involuntary, through the exercise of any right of set-off, or otherwise) on account of the Term Loans owing by the Borrower to it (other than pursuant to Sections 2.04(b), 2.07, 2.10, 2.14
or 2.17(b)) in excess of its ratable share of payments on account of the Term Loans made to the Borrower obtained by all the Lenders, such Lender shall notify the Administrative Agent of such fact and forthwith purchase (for cash at face
value) from the other Lenders such participations in the Term Loans made to the Borrower owing to them as shall be necessary to cause such purchasing Lender to share the excess payment ratably with each of them, provided, however, that
(i) if all or any portion of such excess payment is thereafter recovered from such purchasing Term Loan Lender, such purchase from each Term Loan Lender shall be rescinded and such Term Loan Lender shall repay to the purchasing Term Loan Lender
the purchase price to the extent of such recovery together with an amount equal to such Term Loan Lender’s ratable share (according to the proportion of (A) the amount of such Term Loan Lender’s required repayment to (B) the
total amount so recovered from the purchasing Lender) of any interest or other amount paid or payable by the purchasing Term Loan Lender in respect of the total amount so recovered and (ii) the provisions of this paragraph shall not be
construed to apply to (x) any payment made by the Borrower pursuant to and in accordance with the express terms of this Agreement (including the application of funds arising from the existence of a Defaulting Lender) or (y) any payment
obtained by a Term Loan Lender as consideration for the assignment of or sale of a participation in any of its Term Loans or participations to any assignee or participant, other than to the Borrower or any of its Subsidiaries (as to which the
provisions of this paragraph shall apply). The Borrower agrees that any Term Loan Lender so purchasing a participation from another Term Loan Lender pursuant to this Section 2.13 may, to the fullest extent permitted by law, exercise
all its rights of payment, set-off and counterclaim with respect to such participation as fully as if such Term Loan Lender were the direct creditor of the Borrower in the amount of such participation. 

Section 2.14 Taxes. 

(a) [Reserved] 

(b) Payments Free of Taxes. Any and all payments by or on account of any obligation of the Borrower under any Loan Document
shall be made without deduction or withholding for any Taxes, except as required by applicable law. If any applicable law (as determined in the good faith discretion of an applicable Withholding Agent) requires the deduction or withholding of
any Tax from any such payment by a Withholding Agent, then the applicable Withholding Agent shall be entitled to make such deduction or withholding and shall timely pay the full amount deducted or withheld to the relevant Governmental Authority in
accordance with applicable law and, if such Tax is an Indemnified Tax, then the sum payable by the Borrower shall be increased as necessary so that, after such deduction or withholding has been made (including such deductions and withholdings
applicable to additional sums payable under this Section), the applicable Recipient receives an amount equal to the sum it would have received had no such deduction or withholding been made. 

(c) Payment of Other Taxes by the Company. The Company shall timely pay to the relevant Governmental Authority in accordance
with applicable law, or at the option of the Administrative Agent timely reimburse it for the payment of, any Other Taxes. 

  
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 (d) Indemnification by the Company. The Company shall indemnify each Recipient,
within 30 days after demand therefor, for the full amount of any Indemnified Taxes (including Indemnified Taxes imposed or asserted on or attributable to amounts payable under this Section) payable or paid by such Recipient or required to be
withheld or deducted from a payment to such Recipient and any reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes were correctly or legally imposed or asserted by the relevant Governmental
Authority. A certificate as to the amount of such payment or liability delivered to the Company by a Recipient (with a copy to the Administrative Agent), or by the Administrative Agent on its own behalf or on behalf of a Recipient, shall be
conclusive absent manifest error. 
 (e) Indemnification by the Lenders. Each Lender shall severally indemnify the
Administrative Agent, within 10 days after demand therefor, for (i) any Indemnified Taxes attributable to such Lender (but only to the extent that the Borrower has not already indemnified the Administrative Agent for such Indemnified Taxes and
without limiting the obligation of the Borrower to do so), (ii) any Taxes attributable to such Lender’s failure to comply with the provisions of Section 9.03 relating to the maintenance of a Participant Register and
(iii) any Excluded Taxes attributable to such Lender, in each case, that are payable or paid by the Administrative Agent in connection with any Loan Document, and any reasonable expenses arising therefrom or with respect thereto, whether or not
such Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to any Lender by the Administrative Agent shall be conclusive absent manifest
error. Each Lender hereby authorizes the Administrative Agent to set off and apply any and all amounts at any time owing to such Lender under any Loan Document or otherwise payable by the Administrative Agent to the Lender from any other source
against any amount due to the Administrative Agent under this paragraph (e). 
 (f) Evidence of Payments. Within 30 days
after any payment of Taxes by the Borrower to a Governmental Authority pursuant to this Section 2.14, the Borrower shall deliver to the Administrative Agent the original or a certified copy of a receipt issued by such Governmental
Authority evidencing such payment, a copy of the return reporting such payment or other evidence of such payment reasonably satisfactory to the Administrative Agent. 

(g) Status of Lenders. 

(i) Any Lender that is entitled to an exemption from or reduction of withholding Tax with respect to payments made under any Loan
Document shall deliver to the Borrower and the Administrative Agent, at the time or times reasonably requested by the Borrower or the Administrative Agent, such properly completed and executed documentation reasonably requested by the Borrower or
the Administrative Agent as will permit such payments to be made without withholding or at a reduced rate of withholding. In addition, any Lender, if reasonably requested by the Borrower or the Administrative Agent, shall deliver such other
documentation prescribed by applicable law or reasonably requested by the Borrower or the Administrative Agent as will enable the Borrower or the Administrative Agent to determine whether or not such Lender is subject to backup withholding or
information reporting requirements. Notwithstanding anything to the contrary in the preceding two sentences, the completion, execution and submission of such documentation (other than such documentation set forth in
Section 2.14(g)(ii)(A), (ii)(B) and (ii)(D) below) shall not be required if in the Lender’s reasonable judgment such completion, execution or submission would subject such Lender to any material unreimbursed cost or
expense or would materially prejudice the legal or commercial position of such Lender. 

  
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 (ii) Without limiting the generality of the foregoing, in the event that the Borrower is a
US Person: 
 (A) Any Lender that is a US Person shall deliver to the Borrower and the Administrative Agent on or prior to the date on
which such Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Company or the Administrative Agent), executed originals of IRS Form W-9 certifying that such Lender is exempt from United
States federal backup withholding tax; 
 (B) any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to the
Borrower and the Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable
request of the Borrower or the Administrative Agent), whichever of the following is applicable: 
 (1) in the case of a Foreign Lender
claiming the benefits of an income tax treaty to which the United States is a party (x) with respect to payments of interest under any Loan Document, executed originals of IRS Form W-8BEN or W-8BEN-E, as applicable, establishing an exemption
from, or reduction of, United States federal withholding Tax pursuant to the “interest” article of such tax treaty and (y) with respect to any other applicable payments under any Loan Document, IRS Form W-8BEN or W-8BEN-E, as
applicable, establishing an exemption from, or reduction of, United States federal withholding Tax pursuant to the “business profits” or “other income” article of such tax treaty; 

(2) executed originals of IRS Form W-8ECI; 

(3) in the case of a Foreign Lender claiming the benefits of the exemption for portfolio interest under Section 881(c) of the Code,
(x) a certificate substantially in the form of Exhibit E-1 to the effect that such Foreign Lender is not a “bank” within the meaning of Section 881(c)(3)(A) of the Code, a “10-percent shareholder” of the Borrower
within the meaning of Section 881(c)(3)(B) of the Code, or a “controlled foreign corporation” described in Section 881(c)(3)(C) of the Code (a “US Tax Compliance Certificate”) and (y) executed originals of
IRS Form W-8BEN or W-8BEN-E, as applicable; or 
 (4) to the extent a Foreign Lender is not the beneficial owner, executed originals of
IRS Form W-8IMY, accompanied by IRS Form W-8ECI, IRS Form W-8BEN or W-8BEN-E, as applicable, a U.S. Tax Compliance Certificate substantially in the form of Exhibit E-2 or Exhibit E-3, IRS Form W-9, and/or other certification documents
from each beneficial owner, as applicable; provided that if the Foreign Lender is a partnership and one or more direct or indirect partners of such Foreign Lender are claiming the portfolio interest exemption, such Foreign Lender may provide
a U.S. Tax Compliance Certificate substantially in the form of Exhibit E-4 on behalf of each such direct and indirect partner; 

(C) any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to the Company and the Administrative Agent (in such
number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Company or the Administrative
Agent), executed originals of any other form prescribed by applicable law as a basis for claiming exemption from or a reduction in United States federal withholding Tax, duly completed, together with such supplementary documentation as may be
prescribed by applicable law to permit the Company or the Administrative Agent to determine the withholding or deduction required to be made; and 

  
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 (D) if a payment made to a Lender under any Loan Document would be subject to United States
federal withholding Tax imposed by FATCA if such Lender were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable), such Lender shall deliver
to the Borrower and the Administrative Agent at the time or times prescribed by law and at such time or times reasonably requested by the Company or the Administrative Agent such documentation prescribed by applicable law (including as prescribed by
Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably requested by the Company or the Administrative Agent as may be necessary for the Borrower and the Administrative Agent to comply with their obligations under
FATCA and to determine that such Lender has complied with such Lender’s obligations under FATCA or to determine the amount to deduct and withhold from such payment. Solely for purposes of this clause (D), “FATCA” shall include
any amendments made to FATCA after the date of this Agreement. 
 Each Lender agrees that if any form or certification it previously delivered expires or
becomes obsolete or inaccurate in any respect, it shall update such form or certification or promptly notify the Borrower and the Administrative Agent in writing of its legal inability to do so. 

(h) Treatment of Certain Refunds. If any party determines, in its sole discretion exercised in good faith, that it has
received a refund of any Taxes as to which it has been indemnified pursuant to this Section 2.14 (including by the payment of additional amounts pursuant to this Section 2.14), it shall pay to the indemnifying party an amount
equal to such refund (but only to the extent of indemnity payments made under this Section with respect to the Taxes giving rise to such refund), net of all out-of-pocket expenses (including Taxes) of such indemnified party and without interest
(other than any interest paid by the relevant Governmental Authority with respect to such refund). Such indemnifying party, upon the request of such indemnified party, shall repay to such indemnified party the amount paid over pursuant to this
paragraph (h) (plus any penalties, interest or other charges imposed by the relevant Governmental Authority) in the event that such indemnified party is required to repay such refund to such Governmental Authority. Notwithstanding
anything to the contrary in this paragraph (h), in no event will the indemnified party be required to pay any amount to an indemnifying party pursuant to this paragraph (h) the payment of which would place the indemnified party in a less
favorable net after-Tax position than the indemnified party would have been in if the indemnification payments or additional amounts giving rise to such refund had never been paid. This paragraph shall not be construed to require any
indemnified party to make available its Tax returns (or any other information relating to its Taxes that it deems confidential) to the indemnifying party or any other Person. 

(i) Survival. Each party’s obligations under this Section 2.14 shall survive the resignation or replacement
of the Administrative Agent or any assignment of rights by, or the replacement of, a Lender, the termination of the Commitments and the repayment, satisfaction or discharge of all obligations under any Loan Document. 

Section 2.15 Interest Elections. (a) Each Term Loan Borrowing initially shall be of the Type specified in the
applicable Notice of Borrowing and, in the case of a Eurodollar Rate Advance, shall have an initial Interest Period as specified in such Notice of Borrowing. Thereafter, the Borrower may elect to convert such Term Loan Borrowing to a different
Type of Term Loan or to continue such Term Loan Borrowing and, in the case of a Eurodollar Rate Advance, may elect Interest Periods therefor, all as provided in this Section. The Borrower may elect different options with respect to different
portions of the affected Term Loan Borrowing, in which case each such Term Loan Borrowing shall be allocated ratably among the Lenders having made the Advances comprising such Term Loan Borrowing, and the Advances comprising each such portion shall
be considered a separate Term Loan Borrowing. 

  
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 (b) To make an election pursuant to this Section, the Borrower shall notify the
Administrative Agent of such election by telephone by the time that a Notice of Borrowing would be required under Section 2.02 if the Borrower were requesting a Term Loan Borrowing of the Type resulting from such election to be made on
the effective date of such election. Each such telephonic Interest Election Request shall be irrevocable and shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written Interest Election Request signed by
the Borrower. 
 (c) Each telephonic and written Interest Election Request shall specify the following information in compliance with
Section 2.02: 
 (i) the Term Loan Borrowing to which such Interest Election Request applies and, if different options are
being elected with respect to different portions thereof, the portions thereof to be allocated to each resulting Term Loan Borrowing (in which case the information to be specified pursuant to clauses (iii) and (iv) below shall be specified
for each resulting Term Loan Borrowing); 
 (ii) the effective date of the election made pursuant to such Interest Election Request,
which shall be a Business Day; 
 (iii) the Type of Advances comprising such Term Loan Borrowing; and 

(iv) in the case of a Eurodollar Rate Advance, the Interest Period for each such Advance. 

If any such Interest Election Request requests a Eurodollar Rate Advance but does not specify an Interest Period, the Borrower shall be deemed to have
selected an Interest Period of one month’s duration. 
 (d) If the Borrower fails to deliver a timely Interest Election Request
with respect to a Term Loan Borrowing prior to the end of the Interest Period applicable thereto, then, unless such Term Loan Borrowing is repaid as provided herein, at the end of such Interest Period such Term Loan Borrowing shall be continued as
or converted to a Base Rate Advance. 
 (e) If, after the occurrence and during the continuance of any Event of Default, the Majority
Lenders so direct, (i) each Eurodollar Rate Advance will automatically, on the last day of the then existing Interest Period therefor, be converted into Base Rate Advances and (ii) the obligation of the Lenders to make, or to convert
Advances into, Eurodollar Rate Advances shall be suspended. 
 Section 2.16 [Reserved]. 

Section 2.17 Mitigation Obligations; Replacement of Lenders. 

(a) Designation of a Different Lending Office. If any Lender requests compensation under Section 2.10, or requires the
Borrower to pay any Indemnified Taxes or additional amounts to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 2.14, then such Lender shall use reasonable efforts to designate a different
lending office for funding or booking its Advances hereunder or to assign its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the judgment of such Lender, such designation or assignment (i) would
eliminate or reduce amounts payable pursuant to Section 2.10 or Section 2.14, as the case may be, in the future and (ii) would not subject such Lender to any unreimbursed cost or expense and would not otherwise be
disadvantageous to such Lender. The Company hereby agrees to pay all reasonable costs and expenses incurred by any Lender in connection with any such designation or assignment. 

  
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 (b) Replacement of Lenders. If any Lender requests compensation under
Section 2.10, or if the Borrower is required to pay any Indemnified Taxes or additional amounts to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 2.14, and, in each case, such
Lender has not designated a different lending office in accordance with Section 2.17(a), or if any Lender is a Defaulting Lender, a Non-Consenting Lender or a Non-Extending Lender, then the Company may, at its sole expense and effort,
upon notice to such Lender and the Administrative Agent, require such Lender to assign and delegate, without recourse (in accordance with and subject to the restrictions contained in, and consents required by, Section 9.02), all of its
interests, rights (other than its existing rights to payments pursuant to Section 2.10 or Section 2.14) and obligations under this Agreement and the related Loan Documents to an Eligible Assignee that shall assume such
obligations (which assignee may be another Lender, if such Lender accepts such assignment); provided that: 
 (i) the Company
shall have paid to the Administrative Agent the assignment fee (if any) specified in Section 9.02; 
 (ii) such Lender
shall have received payment of an amount equal to the outstanding principal of its Advance, accrued interest thereon, accrued fees and all other amounts payable to it hereunder and under the other Loan Documents (including any amounts under
Section 2.02(a)(iii)) from the assignee (to the extent of such outstanding principal and accrued interest and fees) or the Borrower (in the case of all other amounts); 

(iii) in the case of any such assignment resulting from a claim for compensation under Section 2.10 or payments required to
be made pursuant to Section 2.14, such assignment will result in a reduction in such compensation or payments thereafter; 

(iv) such assignment does not conflict with applicable law; and 

(v) in the case of any assignment resulting from a Lender becoming a Non-Consenting Lender or a Non-Extending Lender, the applicable
assignee shall have consented to the applicable amendment, waiver, consent or extension request. 
 A Lender shall not be required to make any such
assignment or delegation if, prior thereto, as a result of a waiver by such Lender or otherwise, the circumstances entitling the Company to require such assignment and delegation cease to apply. Each party hereto agrees that an assignment required
pursuant to this Section 2.17(b) may be effected pursuant to an Assignment and Assumption executed by the Company, the Administrative Agent and the assignee, and that the Lender required to make such assignment need not be a party
thereto in order for such assignment to be effective. 
 Section 2.18 [Reserved]. 

Section 2.19 Defaulting Lenders. 

  
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 (a) Defaulting Lender Adjustments. Notwithstanding anything to the contrary contained
in this Agreement, if any Lender becomes a Defaulting Lender, then, until such time as such Lender is no longer a Defaulting Lender, to the extent permitted by applicable law: 

(i) Waivers and Amendments. Such Defaulting Lender’s right to approve or disapprove any amendment, waiver or consent with
respect to this Agreement shall be restricted as set forth in the definition of Majority Lenders and Section 10.01. 
 (ii)
Defaulting Lender Waterfall. Any payment of principal, interest, fees or other amounts received by the Administrative Agent for the account of such Defaulting Lender (whether voluntary or mandatory, at maturity, pursuant to Article
VI or otherwise) or received by the Administrative Agent from a Defaulting Lender pursuant to Section 10.05 shall be applied at such time or times as may be determined by the Administrative Agent as follows: first, to the
payment of any amounts owing by such Defaulting Lender to the Administrative Agent hereunder; second, as the Borrower may request (so long as no Default or Event of Default exists), to the funding of any Advance in respect of which such
Defaulting Lender has failed to fund its portion thereof as required by this Agreement, as determined by the Administrative Agent; third, if so determined by the Administrative Agent and the Borrower, to be held in a deposit account and
released in order to satisfy such Defaulting Lender’s potential future funding obligations with respect to Advances; fourth, to the payment of any amounts owing to the Lenders as a result of any judgment of a court of competent
jurisdiction obtained by any Lender against such Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations under this Agreement; fifth, so long as no Default or Event of Default exists, to the payment of any
amounts owing the Borrower as a result of any judgment of a court of competent jurisdiction obtained by the Borrower against such Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations under this Agreement; and
sixth, to such Defaulting Lender or as otherwise directed by a court of competent jurisdiction. Any payments, prepayments or other amounts paid or payable to a Defaulting Lender that are applied (or held) to pay amounts owed by a
Defaulting Lender pursuant to this Section 2.19(a)(ii) shall be deemed paid to and redirected by such Defaulting Lender, and each Lender irrevocably consents hereto. 

(b) Defaulting Lender Cure. If the Borrower and the Administrative Agent agree in writing that a Lender is no longer a Defaulting
Lender, the Administrative Agent will so notify the parties hereto, whereupon as of the effective date specified in such notice and subject to any conditions set forth therein, such Lender will cease to be a Defaulting Lender; provided that
no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of the Borrower while that Lender was a Defaulting Lender; and provided, further, that except to the extent otherwise expressly
agreed by the affected parties, no change hereunder from Defaulting Lender to Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender. 

ARTICLE III 
 CONDITIONS OF
LENDING 
 Section 3.01 Condition Precedent to the Effectiveness of Sections 2.01 and 2.02. The effectiveness of
Sections 2.01 and 2.02 is subject to the following additional conditions precedent: 
 (a) The Administrative Agent and
the Lenders shall have received all accrued and previously invoiced (at least two Business Days prior to the Closing Date) fees required pursuant to the Fee Letters or this Agreement and all reasonable out-of-pocket expenses of the Administrative
Agent (including the accrued and previously invoiced (at least two Business Days prior to the Closing Date) fees and expenses of counsel to the Administrative Agent) required to be paid hereunder. 

  
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 (b) (i) The Distribution Conditions shall have been (or, any Distribution Condition to the
extent that it relates to the effectiveness of any definitive documentation in respect of, the incurrence of, or the use of proceeds of, the New Debt (as defined in the Separation Agreement), shall substantially simultaneously with, or (with respect
to the use of proceeds of the New Debt) immediately after, the making of the Term Loans be) satisfied in accordance with the Separation Agreement, (ii) the Form S-4 shall not have been terminated and no amendments to the Form S-4 in respect of
the structure of the Transactions (as defined therein) in a manner materially adverse to the Lenders or the Arrangers shall have been made without the consent of the Arrangers (such consent not to be unreasonably withheld, delayed or conditioned)
and (iii) the Separation Agreement and the Merger Agreement shall be in full force and effect and no amendments, consents or waivers to or of the Separation Documentation or the Merger Documentation, in each case as in effect as of
March 26, 2015, that are materially adverse to the Lenders or the Arrangers shall have been made without the consent of the Arrangers (such consent not to be unreasonably withheld, delayed or conditioned) (it being understood that the deemed
waiver of the condition set forth in Section 8.03(d) of the Merger Agreement in accordance with Section 7.08(e) of the Merger Agreement shall not be materially adverse to the Lenders or the Arrangers). 

(c) The Specified Merger Agreement Representations and the Specified Representations shall be true and correct in all material respects
(or, in the case of the Specified Representations, in all respects if qualified by materiality). 
 (d) Since December 31, 2014,
there shall not have occurred any Spinco Material Adverse Effect (as defined in the Merger Agreement). 
 (e) The Administrative Agent
shall have received (i) audited combined balance sheets and related statements of income, stockholders’ equity and cash flows of the Business for the three most recently completed fiscal years ended at least 90 days prior to the Closing
Date and (ii) unaudited combined balance sheets and related statements of income, stockholders’ equity and cash flows of the Business for either (x) each subsequent fiscal quarter (other than any fourth fiscal quarter) ended at least
45 days before the Closing Date (and comparable periods for the prior fiscal year) or (y) the portion of any subsequent fiscal year commencing on the first day of such fiscal year and ending on the last day of the most recently ended fiscal
quarter for such fiscal year (other than any fourth fiscal quarter) that ends at least 45 days before the Closing Date (and a comparable period for the prior fiscal year). The Administrative Agent hereby acknowledges that, as of the date hereof, it
has received financial statements in respect of the foregoing clause (i) for the fiscal years 2012, 2013 and 2014 and in respect of the foregoing clause (ii) for the fiscal quarter ended on March 31, 2015. 

(f) The Administrative Agent shall have received a pro forma consolidated balance sheet and related pro forma consolidated statement of
income of Olin and its Subsidiaries as of and for the 12-month period ending on the last day of the most recently completed four-fiscal quarter period for which financial statements were delivered under Section 3.01(e) (the “Pro
Forma Financial Statements”), prepared after giving effect to the Transactions and the other transactions contemplated hereby to be consummated on the Closing Date as if the Transactions and such other transactions had occurred as of such
date (in the case of such balance sheet) or at the beginning of such period (in the case of such income statements), which need not be prepared in compliance with Regulation S-X of the Securities Act of 1933, as amended, or include adjustments for
purchase accounting (including adjustments of the type contemplated by Financial Accounting Standards Board Accounting Standards Codification 805, Business Combinations (formerly SFAS 141R)). 

  
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 (g) The Administrative Agent shall have received an Officer’s Certificate (x)(i)
certifying that the resolutions of the Board of Directors (or an authorized committee thereof) of the Borrower approving the Loan Documents have not in any way been amended, modified, revoked or rescinded and have been in full force and effect since
their adoption to and including the date hereof and are now in full force and effect or (ii) if such resolutions have been amended or modified, attaching such amended or modified resolutions, (y)(i) certifying that all documents evidencing
other necessary corporate action and governmental approvals, if any, with respect to the Loan Documents were attached to the Officer’s Certificate delivered pursuant to Section 3.05(a) or (ii) attaching any such documents and
(z) attaching a short form good standing certificate for the Borrower from its jurisdiction of organization; 
 (h) The
Administrative Agent shall have received a certificate from the senior financial officer of the Borrower in substantially the form of Exhibit F hereto confirming the solvency of the Company and its Subsidiaries on a consolidated basis after
giving effect to (i) the consummation of the Internal Separation, (ii) the borrowing on the Closing Date of the Initial Term Loans and (iii) the payment of the special cash dividend to TDCC as provided in the Separation Agreement.

 (i) The Administrative Agent shall have received, at least three Business Days prior to the Closing Date, all documentation and
other information required by regulatory authorities under applicable “know your customer” and anti-money laundering rules and regulations, including the Act, in each case requested in writing by the Lenders (through the Administrative
Agent) at least 10 Business Days prior to the Closing Date. 
 (j) The Administrative Agent shall have received copies of any IRS
letter ruling and the legal opinion delivered to TDCC, the Borrower and/or Olin (in each case, to the extent received by Olin) regarding the tax-free nature of certain components of the Transactions (provided that the Administrative Agent and
the Lenders shall not be required to be addressees or beneficiaries of the legal opinion). 
 Section 3.02 [Reserved]. 

Section 3.03 [Reserved]. 

Section 3.04 Determinations Under Section 3.01. For purposes of determining compliance with the conditions
specified in Section 3.01 or 3.05, each Lender shall be deemed to have consented to, approved or accepted or to be satisfied with each document or other matter required thereunder to be consented to or approved by or acceptable or
satisfactory to the Lenders unless an officer of the Administrative Agent responsible for the transactions contemplated by this Agreement shall have received notice from such Lender prior to the date that the Borrower, by notice to the Lenders,
designates as the proposed Effective Date or the effective date of Sections 2.01 and 2.02, specifying its objection thereto. The Administrative Agent shall promptly notify the Lenders of the occurrence of the Effective Date and of
the effective date of Sections 2.01 and 2.02. 
 Section 3.05 Conditions Precedent to Effectiveness. The
effectiveness of this Agreement (other than Sections 2.01 and 2.02) is subject to the execution and delivery of counterparts of this Agreement by the Borrower, the Administrative Agent and the Lenders and the receipt by the Administrative Agent of
the following, each dated the Effective Date, in form and substance satisfactory to the Administrative Agent: 
 (a) an Officer’s
Certificate attaching (x) copies of the resolutions of the Board of Directors (or an authorized committee thereof) of the Borrower approving the Loan Documents, (y) all documents evidencing other necessary corporate action and governmental
approvals, if any, with respect to the Loan Documents and (z) a long form good standing certificate for the Borrower from its jurisdiction of organization; 

  
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 (b) an Officer’s Certificate certifying the names and true signatures of the officers
of the Borrower authorized to sign the Loan Documents and the other documents to be delivered hereunder; 
 (c) a favorable opinion of
a senior counsel of the Borrower, in form and substance reasonably acceptable to the Administrative Agent; and 
 (d) a favorable
opinion of a special New York counsel of the Borrower, in form and substance reasonably acceptable to the Administrative Agent. 
 ARTICLE IV

 REPRESENTATIONS AND WARRANTIES 

Section 4.01 Representations and Warranties of the Company. As of each date provided for in Article III, the Company
represents and warrants as follows: 
 (a) The Borrower is a corporation duly organized, validly existing and in good standing under
the laws of the jurisdiction of its incorporation indicated at the beginning of this Agreement, has all requisite corporate power and authority to conduct its business, to own its properties and assets as it is now conducted and as proposed to be
conducted and is qualified or licensed to do business as a foreign corporation in good standing in all jurisdictions in which the conduct of its business requires it to so qualify or be licensed except where the failure to do so, individually or in
the aggregate, could not reasonably be expected to materially and adversely affect the ability of the Borrower to perform its obligations under any Loan Document. 

(b) The execution, delivery and performance by the Borrower of the Loan Documents to which it is a party, including the Borrower’s
use of the proceeds hereof, are (i) within the Borrower’s corporate powers, have been duly authorized by all necessary corporate action, and (ii) do not (x) contravene the Borrower’s charter, articles or by-laws or
(y) contravene law (including Regulations T, U and X issued by the Board of Governors of the Federal Reserve Board) or any material contractual restriction binding on or affecting the Borrower or (z) result in or require the creation or
imposition of any Lien upon or with respect to any of the properties of the Company or any of its Subsidiaries. 
 (c) No authorization
or approval or other action by, and no notice to or filing with, any Governmental Authority or regulatory body is required for the due execution, delivery and performance by the Borrower of any Loan Documents, except (i) for authorization,
approvals, notices or filings that have been obtained or made and are in full force and effect or (ii) where the failure to obtain such authorization or approval or give such notice or make such filing would not reasonably be expected to have a
material adverse effect on the business, financial condition or results of operations of the Company and its Subsidiaries taken as a whole. 

(d) This Agreement is, and each of other Loan Documents to which it is a party, when delivered hereunder will be, the legal, valid and
binding obligation of the Borrower, enforceable against the Borrower in accordance with their respective terms. 
 (e) (i) The
consolidated balance sheet of DCP as at December 31, 2014, and the related consolidated statements of income, stockholders’ equity and cash flows of DCP for the fiscal year then ended, accompanied by an opinion of Deloitte &
Touche LLP, independent public accountants, fairly present the consolidated financial condition of DCP as at such date and the consolidated results of the operations of DCP for the period ended on such date, all in accordance with GAAP. Each
consolidated balance sheet of the Business delivered pursuant to Section 3.01(e)(ii), and the related consolidated statements of income, stockholders’ equity and cash flows of the Business, fairly present the consolidated financial
condition of the Business as at the date applicable thereto and the consolidated results of the operations of the Business for the period applicable thereto, all in accordance with GAAP, subject to normal year-end audit adjustments and the absence
of footnotes. 

  
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 (ii) The Pro Forma Financial Statements have been prepared giving effect to the Transaction
and the other transactions contemplated hereby to be consummated on the Closing Date as if the Transactions and such other transactions had occurred as of such date (in the case of the balance sheet) or at the beginning of such period (in the case
of the income statements). The Pro Forma Financial Statements have been prepared in good faith and upon assumptions that are believed by the Company to be reasonable at the time made. 

(iii) Except as publicly disclosed prior to the Effective Date, since December 31, 2014, there has been no material adverse change
in the business, financial condition or results of operations of the Company and its Subsidiaries, taken as a whole. 
 (f) There are
no actions, suits or proceedings pending or, to the knowledge of the Company, threatened, against the Company or any Subsidiary the reasonably anticipated outcome of which (i) would materially and adversely affect the ability of the Borrower to
perform its obligations under the Loan Documents or (ii) purport to affect the legality, validity or enforceability of any Loan Document. 

(g) The Borrower is not engaged in the business of extending credit for the purpose of purchasing or carrying Margin Stock, and no
proceeds of any Advance will be used to purchase or carry any Margin Stock or to extend credit to others for the purpose of purchasing or carrying any Margin Stock, except in compliance with Regulations T, U and X issued by the Board of Governors of
the Federal Reserve Board. 
 (h) Neither the Company nor any Subsidiary is an “investment company” or a company
“controlled” by an “investment company” within the meaning of the Investment Company Act of 1940. 
 (i) The
Company and each Subsidiary have filed all material Tax returns (federal, state, provincial and local) required to be filed and paid all taxes shown thereon to be due, including interest and penalties, or provided adequate reserves for payment
thereof. 
 (j) In the ordinary course of its business, the Borrower conducts an ongoing review of the effect of Environmental Laws on
the operations and properties of the Borrower, in the course of which it identifies and evaluates associated liabilities and costs (including any capital or operating expenditures required for clean-up or closure of properties presently or
previously owned, any liabilities in connection with off-site disposal of Hazardous Substances and any capital or operating expenditures) required to achieve or maintain compliance with Environmental Laws. On the basis of this review, the
Borrower has reasonably concluded that, except with respect to any matter disclosed in the Form S-4 or in the Commitments and Contingent Liabilities Note to the consolidated financial statements incorporated therein, such associated liabilities and
costs are unlikely to cause a material adverse change in the business, financial condition or results of operations of the Borrower and its Subsidiaries, taken as a whole, from that shown on the consolidated financial statements as at, and for the
fiscal year ended, December 31, 2014, provided that the inclusion of such exception does not indicate that any such matter will cause such a material adverse change. 

  
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 (k) (i) Neither the Company nor any Subsidiary nor, to the knowledge of the Company,
any director, officer, employee, agent, or Affiliate of the Company or any of its Subsidiaries, (x) is currently the subject of any economic or financial sanctions or trade embargoes imposed, administered or enforced by the U.S. government
(including those administered by the Office of Foreign Assets Control of the U.S. Treasury Department or the U.S. Department of State), the United Nations Security Council, the European Union, Her Majesty’s Treasury, or other relevant sanctions
authority (collectively, “Sanctions”), (y) is located, operating, organized or residing in any country or territory that is the subject or target of Sanctions (as of the Effective Date, the Crimea region of Ukraine, Cuba, Iran,
North Korea, Sudan and Syria) (any such country or territory, a “Designated Jurisdiction”) or (z) is owned or controlled by any Person or Persons that is described in the foregoing clauses (x) or (y). 

(ii) No borrowing under this Agreement, nor the proceeds from any borrowing under this Agreement, will be used by the Borrower directly
or, to the knowledge of the Company, indirectly, to lend, contribute, provide or will otherwise be made available (x) to fund any activity or business in any Designated Jurisdiction, (y) to the knowledge of the Company, to fund any
activity or business of any Person who is the subject of any Sanctions or (z) in any manner that would result in the violation of any Sanctions applicable to any party hereto. 

(l) The Company and its Subsidiaries are in compliance, in all material respects, with (a) all of the foreign assets control
regulations of the United States Treasury Department (31 CFR, Subtitle B, Chapter V, as amended) and any enabling legislation or executive order relating thereto and (b) the Act. 

(m) Neither the Company nor any Subsidiary will use the proceeds from any borrowing under this Agreement (i) to make an unlawful
offer, promise or payment to a foreign public official or (ii) in any manner that would cause the Borrower or any Subsidiary to violate the Foreign Corrupt Practices Act, 15 U.S.C. §§ 78dd-1, et seq. in all material respects. 

(n) After giving effect to (i) the consummation of the Internal Separation, (ii) the borrowing on the Closing Date of the
Initial Term Loans and (iii) the payment of the special cash dividend to TDCC as provided in the Separation Agreement, the Company and its Subsidiaries on a consolidated basis are Solvent. 

ARTICLE V 
 COVENANTS OF THE
COMPANY 
 Section 5.01 Affirmative Covenants. From and after the Closing Date, so long as any Advance shall remain
unpaid or any Lender shall have any Commitment hereunder, the Company will, unless the Majority Lenders shall otherwise consent in writing: 

(a) Compliance with Laws, Etc. Comply, and cause each Subsidiary to comply, with all applicable laws, rules, regulations and
orders (such compliance to include paying before the same become delinquent all Taxes, assessments and governmental charges imposed upon it or upon its property except to the extent contested in good faith) the failure to comply with which would
have a material adverse effect on the business, financial condition or results of operations of the Company and its Subsidiaries taken as a whole. 

  
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 (b) Consolidated Leverage Ratio. Maintain a Consolidated Leverage Ratio as of
the last day of (i) each of the first six Reference Periods ending after the Closing Date (commencing with the Reference Period that includes the first full fiscal quarter ending after the Closing Date) of not more than 4.50:1.0, (ii) the
next two following Reference Periods of not more than 4.25:1.0, (iii) the next two following Reference Periods of not more than 4.00:1.0 and (iv) each Reference Period thereafter of not more than 3.75:1.00. 

(c) Consolidated Interest Coverage Ratio. Maintain a Consolidated Interest Coverage Ratio for each Reference Period (commencing
with the Reference Period that includes the first full fiscal quarter ending after the Closing Date) of not less than 3.50:1.0; provided that for purposes of the foregoing calculation, Consolidated Interest Expense for the Reference Period
ended (i) as of the last day of the first full fiscal quarter ending after the Closing Date shall be Consolidated Interest Expense for such first full fiscal quarter ending after the Closing Date multiplied by four, (ii) as of the last day
of the second full fiscal quarter ending after the Closing Date shall be Consolidated Interest Expense for the first two full fiscal quarters ending after the Closing Date multiplied by two and (iii) as of the last day of the third full fiscal
quarter ending after the Closing Date shall be Consolidated Interest Expense for the first three full fiscal quarters ending after the Closing Date multiplied by 4/3. 

(d) Preservation of Corporate Existence, Etc. Preserve and maintain, and cause each of its Subsidiaries to preserve and
maintain, its corporate existence, and the rights (charter and statutory) and franchises material to the business of the Company and its Subsidiaries, taken as a whole; provided, however, that (i) the Company and its Subsidiaries
may consummate any merger or consolidation permitted under Section 5.02(c), (ii) neither the Company nor any of its Subsidiaries shall be required to preserve any such right or franchise if the Company or such Subsidiary shall
determine that the preservation thereof is no longer desirable in the conduct of the business of the Company or such Subsidiary, as the case may be, and that the loss thereof is not disadvantageous in any material respect to the Company, such
Subsidiary or the Lenders and (iii) no Subsidiary shall be required to preserve its corporate existence if the Company has determined to liquidate or dissolve such Subsidiary and such liquidation or dissolution will not violate any other
provision of this Agreement. 
 (e) Keeping of Books. Keep, and cause each of its Subsidiaries to keep, proper books of record
and account, in which full and correct entries shall be made of all financial transactions and the assets and business of the Company and each such Subsidiary in a manner which will permit the preparation of consolidated financial statements in
accordance with GAAP. 
 (f) Maintenance of Properties, Etc. Maintain and preserve, and cause each of its Subsidiaries to
maintain and preserve, all of its properties that are material to the conduct of the business of the Company and its Subsidiaries, taken as a whole, in good working order and condition, ordinary wear and tear excepted. 

(g) Insurance. Maintain, and cause each Subsidiary to maintain, insurance with reputable insurance companies or associations
in such amount and covering such risks as the Company, in its good faith business judgment, believes necessary. 
 (h) ERISA.
Ensure that the Company and each ERISA Affiliate will meet its minimum funding requirements and all of its other obligations under ERISA with respect to all of its Plans and satisfy all of its obligations to Multiemployer Plans, including any
Withdrawal Liability, except, in each case, where the failure to do so would not have a material adverse effect on the business, financial condition or results of operations of the Company and its Subsidiaries, taken as a whole. 

(i) Reporting Requirements. Furnish to each Lender: 

  
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 (i) as soon as available and in any event within 60 days after the end of each of the first
three quarters of each year, balance sheets of the Company and the Subsidiaries, on a consolidated basis, as of the end of such quarter and statements of income and retained earnings and cash flow of the Company and the Subsidiaries, on a
consolidated basis, for the period commencing at the end of the previous year and ending with the end of such quarter, certified by the chief financial officer of the Company, subject to audit and year-end adjustments; 

(ii) as soon as available and in any event within 120 days after the end of each year, a copy of the balance sheets of the Company and
the Subsidiaries, on a consolidated basis, as of the end of such year and the statements of income and retained earnings and cash flow of the Company and the Subsidiaries, on a consolidated basis, for such year, certified by Deloitte &
Touche LLP, KPMG LLP or another independent nationally recognized firm of public accountants; 
 (iii) as soon as possible and in any
event within 10 days after an officer of the Company becomes aware of the occurrence of each Event of Default (and each event which, with the giving of notice or lapse of time, or both, would constitute an Event of Default), an Officer’s
Certificate setting forth details of such Event of Default or event and the action which the Company has taken and proposes to take with respect thereto; 

(iv) contemporaneously with each delivery of the statements referred to in clauses (i) and (ii) above, (A) either an
Officer’s Certificate stating that no Event of Default (other than by reason of non-compliance with the covenants referred to in Sections 5.01(b) and (c)) and no event which, with the giving of notice or lapse of time, or both, would
constitute an Event of Default (other than by reason of non-compliance with the covenants referred to in Sections 5.01(b) and (c)) occurred during such quarter or, if applicable, an Officer’s Certificate pursuant to clause
(iii) above, (B) an Officer’s Certificate stating that, as of the last day of the preceding quarter, and to the best of his or her knowledge, at all times during the preceding quarter, the Company was in compliance with the covenants
referred to in Sections 5.01(b) and (c) and providing reasonable details of the calculations evidencing the Company’s compliance with such covenants and (C) reasonable details of each material change in GAAP from those applied
in preparing the statements referred to in Section 4.01(e)(i) insofar as such changes are applicable to the statements referred to in clauses (i) and (ii) above; 

(v) promptly after the sending or filing thereof, copies of all reports which the Company sends to any of its shareholders, and copies of
all reports and registration statements which the Company or any Subsidiary files with the SEC or any national securities exchange (other than those pertaining to employee benefit plans); and 

(vi) such other information respecting the condition or operations, financial or otherwise, of the Company or any Subsidiary as any
Lender through the Administrative Agent may from time to time reasonably request. 
 Reports and financial statements required to be
delivered by the Company pursuant to paragraphs (i), (ii) and (v) of this Section 5.01(i) shall be deemed to have been delivered on the date on which such reports containing such financial statements are posted on the
SEC’s website at www.sec.gov; provided that the Company shall deliver paper copies of the reports and financial statements referred to in paragraphs (i), (ii) and (v) of this Section 5.01(i) to the
Administrative Agent or any Lender who requests it to deliver such paper copies until written notice to cease delivering paper copies is given by the Administrative Agent or such Lender. 

  
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 (j) Use of Proceeds. Ensure that the proceeds of the Term Loans are used solely to
finance a special cash dividend to TDCC as provided in the Separation Agreement. 
 (k) Guaranty. (a) Subject to clause
(b) below, no later than 5:00 P.M. Local Time on the Business Day immediately after the Closing Date, the Borrower shall deliver, or cause to be delivered, to the Administrative Agent a counterpart of the Guaranty Agreement executed by the
public company that is at that time the direct or indirect parent of the Borrower and (b) substantially simultaneously with the Merger, the Borrower shall deliver, or cause to be delivered, to the Administrative Agent a counterpart of the
Guaranty Agreement executed by the public company that is, after giving effect to the Merger, the direct or indirect parent of the Borrower. 

Section 5.02 Negative Covenants. From and after the Closing Date, so long as any Advance shall remain unpaid, the
Company will not, without the written consent of the Majority Lenders: 
 (a) Liens. Create, assume or suffer to exist or permit
any Subsidiary of the Company to create, assume or suffer to exist any Lien upon any of its property or assets, whether now owned or hereafter acquired, except: 

(i) Permitted Encumbrances; 

(ii) other Liens incidental to the conduct of its business or the ownership of its property and assets which were not incurred to secure
Indebtedness, and which do not in the aggregate materially detract from the value of its property or assets or materially impair the use thereof in the operation of its business; 

(iii) Liens on property or assets of (w) a Domestic Subsidiary (other than the Borrower) to secure obligations of such Subsidiary to
the Company or another Domestic Subsidiary, (x) the Borrower to secure obligations of the Borrower to the Company or (y) a Foreign Subsidiary to secure obligations of such Subsidiary to the Company or any other Subsidiary; 

(iv) any Lien on property of any Foreign Subsidiary to secure Indebtedness of such Subsidiary, provided that, immediately after
giving effect thereto and to the concurrent repayment of any other Indebtedness, the aggregate principal amount of outstanding Indebtedness secured by Liens permitted by this clause (iv) or by clause (vi) or (ix) of this Section does
not exceed 10% of Consolidated Net Tangible Assets; 
 (v) Liens incurred in connection with any Tax-Exempt Financing which do not in
the aggregate materially detract from the value of the property or assets affected thereby or materially impair the use of such property or assets in the operation of its business; 

(vi) Liens on property or assets granted in connection with applications for or reimbursement obligations with respect to letters of
credit issued at the request of the Company or a Subsidiary by a banking institution to secure the performance of obligations of the Company or a Subsidiary relating to such letters of credit, to the extent such banking institution requested the
granting to it of such Lien as a condition for its issuance of the letter of credit; provided that, immediately after giving effect thereto and to the concurrent repayment of any other Indebtedness, the aggregate principal amount of
outstanding Indebtedness secured by Liens permitted by this clause (vi) or by clause (iv) or (ix) of this Section does not exceed 10% of Consolidated Net Tangible Assets; 

  
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 (vii) any Lien existing on any property or asset prior to the acquisition thereof by the
Company or any Subsidiary or existing on any property or asset of any Person that becomes a Subsidiary after the Effective Date prior to the time such Person becomes a Subsidiary; provided that (A) such Lien is not created in
contemplation of or in connection with such acquisition or such Person becoming a Subsidiary, as the case may be, (B) such Lien shall not apply to any other property or assets of the Company or any Subsidiary and (C) such Lien shall secure
only those obligations which it secures on the date of such acquisition or the date such Person becomes a Subsidiary, as the case may be, and extensions, renewals and replacements thereof that do not increase the outstanding principal amount
thereof; 
 (viii) Liens on fixed or capital assets acquired, constructed or improved by the Company or any Subsidiary; provided
that (A) with respect to Liens securing Indebtedness of any Domestic Subsidiary, such Liens secure Indebtedness permitted by clauses (iii) or (iv) of Section 5.02(b), (B) such Liens and the Indebtedness secured
thereby are incurred prior to or within 90 days after acquisition or the completion of such construction or improvement, (C) the Indebtedness secured thereby does not exceed 100% of the cost of acquiring, constructing or improving such fixed or
capital assets and (D) such Liens shall not apply to any other property or assets of the Company or any Subsidiary; 
 (ix) Liens
on assets securing other obligations of the Company and its Subsidiaries not expressly permitted by clauses (i) through (viii) above; provided that, immediately after giving effect thereto and to the concurrent repayment of any
other secured obligations, the aggregate principal amount of outstanding obligations secured by Liens permitted by this clause (ix) or by clause (iv) or (vi) of this Section does not exceed 10% of Consolidated Net Tangible Assets;

 (x) Liens on Margin Stock, if and to the extent the value of all Margin Stock of the Company and its Subsidiaries exceeds 25% of the
value of the total assets subject to this Section 5.02(a) (it being understood that Margin Stock not in excess of 25% of the value of such assets will be subject to the restrictions of this Section 5.02(a)); 

(xi) Liens on assets of the JV and its Subsidiaries securing Indebtedness permitted under Section 5.02(b)(v); provided that
(A) such Lien shall not apply to any other property or assets of the Company or any Subsidiary and (B) such Lien shall secure only those obligations which it secures on the Effective Date, and extensions, renewals and replacements thereof
that do not increase the outstanding principal amount thereof; 
 (xii) Liens on the assets of any Subsidiary incurred during the
period after the Effective Date and prior to the Closing Date; provided that (A) such Liens were incurred in the ordinary course of business, (B) such Liens were not incurred in contemplation of the Merger and (C) the aggregate
principal amount of outstanding obligations secured by Liens permitted by this clause (xii) does not exceed $10,000,000; and 

(xiii) Liens on Receivables Related Assets of a Receivables Subsidiary pursuant to a Permitted Receivables Facility. 

(b) Domestic Subsidiary Indebtedness. Permit any Domestic Subsidiary (other than the Borrower) to create, incur, assume or permit
to exist any Indebtedness, except: 
 (i) Indebtedness of any Domestic Subsidiary to the Company or any other Domestic Subsidiary; 

  
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 (ii) Indebtedness of any Domestic Subsidiary outstanding on the Effective Date (other than
(x) Indebtedness outstanding under the Existing Credit Agreement and (y) Indebtedness outstanding under the JV Credit Agreement); 

(iii) Indebtedness incurred to finance the acquisition, construction or improvement of any fixed or capital assets, including Capital
Lease Obligations and any Indebtedness assumed in connection with the acquisition of any such assets or secured by a Lien on any such assets prior to the acquisition thereof, and extensions, renewals and replacements of any such Indebtedness that do
not increase the outstanding principal amount thereof; provided that such Indebtedness is incurred prior to or within 90 days after such acquisition or the completion of such construction or improvement; 

(iv) Indebtedness of any Person that becomes a Domestic Subsidiary after the Effective Date (other than Indebtedness outstanding under
the JV Credit Agreement); provided that such Indebtedness exists at the time such Person becomes a Domestic Subsidiary and is not created in contemplation of or in connection with such Person becoming a Domestic Subsidiary; 

(v) (x) in the event that the Company and/or TDCC obtain the Necessary JV Consents, Indebtedness of the JV under the JV Credit Agreement
in an aggregate principal amount not exceeding the outstanding principal amount of such Indebtedness as of the Effective Date or (y) in the event that the Company and/or TDCC does not obtain the Necessary JV Consents, Indebtedness of the JV to
refinance the Indebtedness under the JV Credit Agreement in an aggregate principal amount not exceeding the outstanding principal amount of such Indebtedness as of the Effective Date; 

(vi) Indebtedness of any Receivables Subsidiaries in respect of any Permitted Receivables Facilities in an aggregate principal amount not
exceeding US$500,000,000 at any time outstanding; and 
 (vii) other Indebtedness in an aggregate principal amount not exceeding
US$40,000,000 at any time outstanding. 
 (c) Mergers, Etc. Except with respect to the Merger, (i) merge or consolidate
with or into any other Person (other than a Subsidiary) or (ii) convey, transfer, lease or otherwise dispose of, or permit a Subsidiary to convey, transfer, lease, or otherwise dispose of (whether in one transaction or in a series of related
transactions), all or substantially all of the property or assets of the Company and its Subsidiaries taken as a whole (whether now owned or hereafter acquired), directly or indirectly, to any Person, including through a merger or consolidation of a
Subsidiary with an unaffiliated party, unless (A) in each case of (i) or (ii), after giving effect to such proposed transaction, no Event of Default or event which with the giving of notice or lapse of time, or both, would constitute an
Event of Default would exist and (B) in the case of clause (i), the surviving corporation is the Company, provided that to the extent that the value of all Margin Stock owned by the Company and its Subsidiaries taken as a whole exceeds
25% of the value of the total assets of the Company and its Subsidiaries subject to this Section 5.02(c), nothing in this Section 5.02(c) shall prohibit the sale of such Margin Stock (it being understood that Margin Stock not
in excess of 25% of the value of such assets will be subject to the restrictions of this Section 5.02(c)). 
 (d) Change in
Nature of Business. Engage, or permit any of its Subsidiaries to engage, to any material extent, in any business other than the businesses of the type conducted by the Company and its Subsidiaries on the Effective Date (at any time
following the closing of the Merger, assuming the Transactions were consummated on the Effective Date) and businesses reasonably related thereto. 

  
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 (e) ERISA. Create, assume or suffer to exist or permit any ERISA Affiliate to create,
assume or suffer to exist (i) any Insufficiency of any Plan with respect to which an ERISA Event has occurred (or, in the case of a Plan with respect to which an ERISA Event described in clauses (iii) through (v) of the definition of
ERISA Event shall have occurred and then exist, the liability of the Company and the ERISA Affiliates related thereto), or (ii) any Withdrawal Liability under any Multiemployer Plan, in each case, if the sum of (A) any such Insufficiency
or Withdrawal Liability, as applicable, (B) the Insufficiency of any and all other Plans with respect to which an ERISA Event shall have occurred and then exist (or, in the case of a Plan with respect to which an ERISA Event described in
clauses (iii) through (v) of the definition of ERISA Event shall have occurred and then exist, the liability of the Company and the ERISA Affiliates related thereto), (C) amounts then required to be paid to any and all other
Multiemployer Plans by the Company or the ERISA Affiliates as Withdrawal Liability and (D) the aggregate principal amount of all Indebtedness of the Company and all the Subsidiaries secured by Liens permitted by clauses (iv), (vi), (vii),
(viii) and (ix) of Section 5.02(a), shall exceed 10% of Consolidated Net Tangible Assets. 
 (f) Use of
Proceeds. Request any Advance, and the Company shall not use, and shall procure that its Subsidiaries and its or their respective directors, officers, employees and agents shall not use, the proceeds of any Advance (a) in furtherance
of an offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any Person in violation of any Anti-Corruption Laws, (b) for the purpose of funding or financing any activities, business or
transaction of or with any Sanctioned Person, or in any Designated Jurisdiction, to the extent such activities, businesses or transaction would be prohibited by Sanctions if conducted by a corporation incorporated in the United States or in a
European Union member state or (c) in any manner that would result in the violation of any Sanctions applicable to any party hereto. 

Section 5.03 TDCC Guaranteed Period Provisions. Notwithstanding anything to the contrary contained in this Agreement, during
the TDCC Guaranteed Period: 
 (a) the covenants set forth in Section 5.01 (other than Section 5.01(j) and 5.01(k)) and
Section 5.02 shall be suspended and shall be of no effect whatsoever and, in lieu thereof, the TDCC Covenants shall be deemed, and shall be, incorporated herein by reference mutatis mutandis and be the operative covenants hereunder
with respect to the subject matter thereof (it being agreed that (x) references in such incorporated provisions to (i) the “Borrower” shall be references to TDCC, (ii) the “Banks” shall be references to the
Lenders, (iii) the “Domestic Subsidiaries” shall be references to the Domestic Subsidiaries of TDCC under and as defined in the TDCC Credit Agreement, (iv) the terms “Consolidated Subsidiaries”, “ERISA Group”,
“PBGC”, “Plan”, “ERISA”, “Principal Property”, “Indebtedness”, “Internal Revenue Code”, “Exempted Indebtedness”, “Consolidated Net Tangible Assets”, “Board of
Directors”, “Person”, “Default”, “Subsidiary”, “Restricted Party List”, “Sanctioned Country”, “Economic Sanctions Laws” and “OFAC” shall be references to such terms as
defined in the TDCC Credit Agreement and (v) to the extent that a matter requires the satisfaction (or reasonable satisfaction) of the Administrative Agent, it shall be deemed to be a reference to the Administrative Agent under, and as defined,
in the TDCC Credit Agreement and (y) the reference in Section 5.06 to “Loans” shall be a reference to such term as defined in the TDCC Credit Agreement for so long as the TDCC Credit Agreement remains in full force and effect and
otherwise shall be a reference to the Term Loans hereunder); 
 (b) (x) Sections 6.01(d), 6.01(e), 6.01(f) and 6.01(g) (and any
defaults or events of default arising thereunder) shall be suspended and shall be of no effect whatsoever and, in lieu thereof, the TDCC Events of Default shall be deemed, and shall be, incorporated herein by reference mutatis mutandis and be
operative provisions hereunder (it being agreed that references in such incorporated provisions to (i) the “Borrower” shall be references to TDCC, (ii) the terms “Person”, “Board of Directors”, “ERISA
Group”, “Unfunded Vested Liabilities” and “ERISA” shall be references to such terms as defined in the TDCC Credit Agreement and (iii) the “Domestic Subsidiaries” shall be references to the Domestic
Subsidiaries of TDCC under and as defined in the TDCC Credit Agreement) and (y) references in Section 6.01(c) to Sections 5.01(b), 5.01(c), 5.01(i)(iii) and 5.02 of this Agreement shall be replaced with references to equivalent Sections of
the TDCC Credit Agreement; and 

  
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 (c) with respect to the foregoing, to the extent any interpretative rule or provision set forth
in the TDCC Credit Agreement is applicable to any of the TDCC Credit Agreement covenants, sections, provisions or defined terms referenced above, such rule shall govern and replace any interpretative rule or provision under this Agreement. 

ARTICLE VI 
 EVENTS OF DEFAULT

 Section 6.01 Events of Default. If any of the following events (“Events of Default”) shall occur
and be continuing after the Closing Date: 
 (a) The Borrower shall fail to pay (i) any principal of any Advance made to the
Borrower when the same becomes due and payable or (ii) any interest on any Advance made to such Borrower or any fees or other amounts payable under this Agreement within five days of the same becoming due and payable; or 

(b) Any representation or warranty made by the Borrower herein or by any Borrower (or any of its officers) in connection with this
Agreement shall prove to have been incorrect in any material respect when made; or 
 (c) The Borrower shall fail to perform or observe
(i) any term, covenant or agreement contained in Section 5.01(b), (c), (i)(iii) or (k) or Section 5.02, or (ii) any term, covenant or agreement contained in any Loan Document (other than as
referred to in subsection (a) or clause (i) above) on its part to be performed or observed if, in the case of this clause (ii), such failure shall remain unremedied for 30 days after written notice thereof shall have been given to the
Company by the Administrative Agent or any Lender; or 
 (d) The Company or any Subsidiary shall fail to pay any installment of
principal of or any premium or interest on any Indebtedness, which is outstanding in a principal amount of at least US$50,000,000 in the aggregate (but excluding Indebtedness outstanding hereunder) of the Company or such Subsidiary (as the case may
be), when the same becomes due and payable (whether by scheduled maturity, required prepayment, acceleration, demand or otherwise), and such failure shall continue after the applicable grace period, if any, specified in the agreement or instrument
relating to such Indebtedness, or any other event shall occur or condition shall exist under any agreement or instrument relating to any such Indebtedness and shall continue after the applicable grace period, if any, specified in such agreement or
instrument, if the effect of such event or condition is to accelerate, or to permit the acceleration of, the maturity of such Indebtedness, or any Indebtedness of the Company or any Subsidiary which is outstanding in an aggregate principal amount of
at least US$50,000,000 shall, for any reason, be accelerated (it being understood that a mandatory prepayment on the sale of any asset shall be deemed not to be an acceleration of the Indebtedness secured by such asset); or 

(e) The Borrower or any Significant Subsidiary or any two or more Subsidiaries which (when taken together) would have aggregate total
assets constituting those of a Significant Subsidiary shall generally not pay its debts as such debts become due, or shall admit in writing its inability to pay its debts generally, or shall make a general assignment for the benefit of creditors; or
any proceeding shall be instituted by or against the Borrower or any such Subsidiary seeking to adjudicate it as bankrupt or insolvent, or seeking liquidation, winding up, reorganization, arrangement, adjustment, protection, relief, or composition
of it or its debts under any Debtor Relief Law, and, in the case of any such proceeding instituted against the Borrower or such Subsidiary (but not instituted by it), either such proceeding shall not be dismissed or stayed for 60 days or any of the
actions sought in such proceeding (including the entry of an order for relief against it or the appointment of a trustee, custodian or other similar official for it or any substantial part of its property) shall occur; or the Borrower or any such
Subsidiary shall take any corporate action to authorize any of the actions set forth above in this subsection (e); or 

  
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 (f) Any judgment or order for the payment of money in excess of US$50,000,000 shall be
rendered against the Company or any Subsidiary and either (i) enforcement proceedings shall have been commenced by any creditor upon such judgment or order and, within 60 days of the commencement of such proceedings, such judgment shall not
have been satisfied or (subject to clause (ii) below) shall have been stayed or (ii) there shall be any period of 60 consecutive days during which a stay of enforcement of such judgment or order, by reason of a pending appeal or otherwise,
shall not be in effect; or 
 (g) The Company or any of its ERISA Affiliates shall incur liability in excess of US$50,000,000 in the
aggregate as a result of one or more of the following: (i) the occurrence of any ERISA Event with respect to a Plan; (ii) the partial or complete withdrawal of the Company or any of its ERISA Affiliates from a Multiemployer Plan; or
(iii) the insolvency or termination of a Multiemployer Plan; or 
 (h) The Guaranty Agreement shall for any reason cease to be
valid and binding on or enforceable against the Parent Guarantor, or the Borrower shall so state in writing; 
 then, and in any such event, the
Administrative Agent (i) shall at the request, or may with the consent of the Majority Lenders, by notice to the Borrower declare the obligation of each Lender to make Advances to be terminated, whereupon the same shall forthwith terminate, and
(ii) shall at the request, or may with the consent of the Majority Lenders, by notice to the Borrower, declare the Notes, all interest thereon and all other amounts payable under this Agreement to be forthwith due and payable, whereupon the
Notes, all such interest and all such amounts shall become and be forthwith due and payable, without presentment, demand, protest or further notice of any kind, all of which are hereby expressly waived by the Borrower; provided,
however, that in the event of an Event of Default resulting from the actual or deemed entry of an order for relief with respect to the Borrower under the Federal Bankruptcy Code, (A) the obligation of each Lender to make Advances shall
automatically be terminated and (B) the Notes, all such interest and all such amounts shall automatically become and be due and payable, without presentment, demand, protest or any notice of any kind, all of which are hereby expressly waived by
the Borrower. 
 Section 6.02 [Reserved] 

Section 6.03 Administrative Agent May File Proofs of Claim. In case of the pendency of any proceeding under any Debtor
Relief Law or any other judicial proceeding relative to the Borrower, the Administrative Agent (irrespective of whether the principal of any Advance shall then be due and payable as herein expressed or by declaration or otherwise and irrespective of
whether the Administrative Agent shall have made any demand on the Borrower) shall be entitled and empowered (but not obligated) by intervention in such proceeding or otherwise: 

  
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 (a) to file and prove a claim for the whole amount of the principal and interest owing and
unpaid in respect of the Advances and all other obligations in respect of this Agreement and the Notes that are owing and unpaid and to file such other documents as may be necessary or advisable in order to have the claims of the Lenders and the
Administrative Agent (including any claim for the reasonable compensation, expenses, disbursements and advances of the Lenders and the Administrative Agent and their respective agents and counsel and all other amounts due the Lenders and the
Administrative Agent under Sections 2.03, 10.04 and 10.06) allowed in such judicial proceeding; and 
 (b) to
collect and receive any monies or other property payable or deliverable on any such claims and to distribute the same; 
 and any custodian, receiver,
assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Lender to make such payments to the Administrative Agent and, in the event that the Administrative Agent shall consent
to the making of such payments directly to the Lenders, to pay to the Administrative Agent any amount due for the reasonable compensation, expenses, disbursements and advances of the Administrative Agent and its agents and counsel, and any other
amounts due the Administrative Agent under Sections 2.03, 10.04 and 10.06. 
 ARTICLE VII 

[RESERVED] 
 ARTICLE VIII 

THE AGENT 

Section 8.01 Appointment and Authority. Each of the Lenders hereby irrevocably appoints Wells Fargo to act on its behalf
as the Administrative Agent hereunder and under the other Loan Documents and authorizes the Administrative Agent to take such actions on its behalf and to exercise such powers as are delegated to the Administrative Agent by the terms hereof or
thereof, together with such actions and powers as are reasonably incidental thereto. Except to the extent expressly provided in Section 8.07, the provisions of this Article are solely for the benefit of the Administrative Agent and
the Lenders and neither the Borrower nor any of its Subsidiaries shall have rights as a third-party beneficiary of any of such provisions. It is understood and agreed that the use of the term “agent” herein or in any other Loan
Documents (or any other similar term) with reference to the Administrative Agent is not intended to connote any fiduciary or other implied (or express) obligations arising under agency doctrine of any applicable law. Instead such term is used
as a matter of market custom, and is intended to create or reflect only an administrative relationship between contracting parties. 

Section 8.02 Reliance by the Administrative Agent. The Administrative Agent shall be entitled to rely upon, and shall
not incur any liability for relying upon, any notice, request, certificate, consent, statement, instrument, document or other writing (including any electronic message, Internet or intranet website posting or other distribution) believed by it to be
genuine and to have been signed, sent or otherwise authenticated by the proper Person. The Administrative Agent also may rely upon any statement made to it orally or by telephone and believed by it to have been made by the proper Person, and
shall not incur any liability for relying thereon. In determining compliance with any condition hereunder to the making of an Advance, that by its terms must be fulfilled to the satisfaction of a Lender, the Administrative Agent may presume
that such condition is satisfactory to such Lender unless the Administrative Agent shall have received notice to the contrary from such Lender prior to the making of such Advance. The Administrative Agent may consult with legal counsel (who may
be counsel for the Borrower), independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts. 

  
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 Section 8.03 Rights as a Lender. The Person serving as the Administrative
Agent hereunder shall have the same rights and powers in its capacity as a Lender as any other Lender and may exercise the same as though it were not the Administrative Agent and the term “Lender” or “Lenders” shall, unless
otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. Such Person and its Affiliates may accept deposits from, lend money to, own
securities of, act as the financial advisor or in any other advisory capacity for and generally engage in any kind of business with the Borrower or any Subsidiary or other Affiliate thereof as if such Person were not the Administrative Agent
hereunder and without any duty to account therefor to the Lenders. 
 Section 8.04 Exculpatory Provisions. 

(a) The Administrative Agent shall not have any duties or obligations except those expressly set forth herein and in the other Loan
Documents, and its duties hereunder and thereunder shall be administrative in nature. Without limiting the generality of the foregoing, the Administrative Agent: 

(i) shall not be subject to any fiduciary or other implied duties, regardless of whether a Default or Event of Default has occurred and
is continuing; 
 (ii) shall not have any duty to take any discretionary action or exercise any discretionary powers, except
discretionary rights and powers expressly contemplated hereby or by the other Loan Documents that the Administrative Agent is required to exercise as directed in writing by the Majority Lenders (or such other number or percentage of the Lenders as
shall be expressly provided for herein or in the other Loan Documents), provided that the Administrative Agent shall not be required to take any action that, in its opinion or the opinion of its counsel, may expose the Administrative Agent to
liability or that is contrary to any Loan Document or applicable law, including for the avoidance of doubt any action that may be in violation of the automatic stay under any Debtor Relief Law or that may effect a forfeiture, modification or
termination of property of a Defaulting Lender in violation of any Debtor Relief Law; and 
 (iii) shall not, except as expressly set
forth herein and in the other Loan Documents, have any duty to disclose, and shall not be liable for the failure to disclose, any information relating to the Borrower or any of their respective Subsidiaries or Affiliates that is communicated to or
obtained by the Person serving as the Administrative Agent or any of its Affiliates in any capacity. 
 (b) The Administrative Agent
shall not be liable for any action taken or not taken by it (i) with the consent or at the request of the Majority Lenders (or such other number or percentage of the Lenders as shall be necessary, or as the Administrative Agent shall believe in
good faith shall be necessary, under the circumstances as provided in Section 6.01 and Section 10.01) or (ii) in the absence of its own gross negligence or willful misconduct as determined by a court of competent
jurisdiction by final non-appealable judgment. The Administrative Agent shall be deemed not to have knowledge of any Default or Event of Default unless and until notice describing such Default or Event of Default is given to the Administrative
Agent by the Company or a Lender. 
 (c) The Administrative Agent shall not be responsible for or have any duty to ascertain or inquire
into (i) any statement, warranty or representation made in or in connection with this Agreement or any other Loan Document, (ii) the contents of any certificate, report or other document delivered hereunder or thereunder or in connection
herewith or therewith, (iii) the performance or observance of any of the covenants, agreements or other terms or conditions set forth herein or therein or the occurrence of any Default or Event of Default, (iv) the validity,
enforceability, effectiveness or genuineness of this Agreement, any other Loan Document or any other agreement, instrument or document or (v) the satisfaction of any condition set forth in Article III or elsewhere herein, other than to
confirm receipt of items expressly required to be delivered to the Administrative Agent. 

  
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 Section 8.05 Non-Reliance on Administrative Agent and Other Lenders. Each
Lender acknowledges that it has, independently and without reliance upon the Administrative Agent, any other Lender or any of their Related Parties, and based on such documents and information as it has deemed appropriate, made its own credit
analysis and decision to enter into this Agreement. Each Lender also acknowledges that it will, independently and without reliance upon the Administrative Agent, any other Lender or any of their Related Parties, and based on such documents and
information as it shall from time to time deem appropriate, continue to make its own decisions in taking or not taking action under, or based upon, this Agreement, any other Loan Document or any related agreement or any document furnished hereunder
or thereunder. 
 Section 8.06 Indemnification. (a) Each Lender severally agrees to indemnify the Administrative
Agent (to the extent not reimbursed by the Company), from and against such Lender’s ratable share of any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind or
nature whatsoever that may be imposed on, incurred by, or asserted against the Administrative Agent in any way relating to or arising out of this Agreement or any action taken or omitted by the Administrative Agent under this Agreement
(collectively, the “Indemnified Costs”), provided that no Lender shall be liable for any portion of the Indemnified Costs resulting from the Administrative Agent’s gross negligence or willful misconduct as found in a
final, non-appealable judgment by a court of competent jurisdiction. Without limitation of the foregoing, each Lender agrees to reimburse the Administrative Agent promptly upon demand for its ratable share of any out-of-pocket expenses
(including reasonable counsel fees) incurred by the Administrative Agent in connection with the preparation, execution, delivery, administration, modification, amendment or enforcement (whether through negotiations, legal proceedings or otherwise)
of, or legal advice in respect of rights or responsibilities under, this Agreement, to the extent that the Administrative Agent is not reimbursed for such expenses by the Company. In the case of any investigation, litigation or proceeding
giving rise to any Indemnified Costs, this Section 8.06 applies whether any such investigation, litigation or proceeding is brought by the Administrative Agent, any Lender or a third party. 

(b) [Reserved] 

(c) For purposes of this Section 8.06, the Lenders’ respective ratable shares of any amount shall be determined, at any
time, according to the sum of the aggregate principal amount of the Term Loans (or prior to the Closing Date, Term Loan Commitments) outstanding at such time and owing to the respective Lenders. The failure of any Lender to reimburse the
Administrative Agent promptly upon demand for its ratable share of any amount required to be paid by the Lenders to such Administrative Agent as provided herein shall not relieve any other Lender of its obligation hereunder to reimburse such
Administrative Agent for its ratable share of such amount, but no Lender shall be responsible for the failure of any other Lender to reimburse the Administrative Agent for such other Lender’s ratable share of such amount. Without prejudice
to the survival of any other agreement of any Lender hereunder, the agreement and obligations of each Lender contained in this Section 8.06 shall survive the payment in full of principal, interest and all other amounts payable hereunder
and under the Notes. 

  
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 Section 8.07 Successor Agent. The Administrative Agent may resign at any
time by giving written notice thereof to the Lenders and the Company and may be removed at any time with or without cause by the Majority Lenders. Upon any such resignation or removal, the Majority Lenders shall have the right to appoint a
successor Administrative Agent, subject, so long as no Event of Default has occurred and is continuing, to the Company’s approval, whereupon such successor Administrative Agent shall succeed to and become vested with all the rights, powers,
discretion, privileges and duties of the former Administrative Agent, and the term “Administrative Agent” shall mean such successor agent effective upon such appointment and approval, and the former Agent shall be discharged from its
duties and obligations under this Agreement, other than the obligations provided in Section 10.12, without any other or further act or deed on the part of such former Administrative Agent or any of the parties to this Agreement or any
holders of the Loans. If no successor agent has accepted appointment as Administrative Agent by the date that is 30 days following a retiring Administrative Agent’s notice of resignation, the retiring Administrative Agent’s
resignation shall nevertheless thereupon become effective, and the Lenders shall assume and perform all of the duties of the Administrative Agent hereunder until such time, if any, as the Majority Lenders appoint a successor agent as provided for
above. After any retiring Administrative Agent’s resignation or removal hereunder as Administrative Agent, the provisions of this Article VIII shall inure to its benefit as to any actions taken or omitted to be taken by it while it
was Administrative Agent under this Agreement. 
 Section 8.08 No Other Duties, Etc. Anything herein to the contrary
notwithstanding, none of the syndication agents, documentation agents, co-agents, arrangers or bookrunners listed on the cover page hereof shall have any powers, duties or responsibilities under this Agreement or any of the other Loan Documents,
except in its capacity, as applicable, as the Administrative Agent or a Lender hereunder. 
 Section 8.09 Delegation of
Duties. The Administrative Agent may perform any and all of its duties and exercise its rights and powers hereunder or under any other Loan Document by or through any one or more sub-agents appointed by the Administrative Agent. The
Administrative Agent and any such sub-agent may perform any and all of its duties and exercise its rights and powers by or through their respective Related Parties. The exculpatory provisions of this Article shall apply to any such sub-agent
and to the Related Parties of the Administrative Agent and any such sub-agent, and shall apply to their respective activities in connection with the syndication of the Commitments as well as activities as Administrative Agent. The
Administrative Agent shall not be responsible for the negligence or misconduct of any sub-agents except to the extent that a court of competent jurisdiction determines in a final and non-appealable judgment that the Administrative Agent acted with
gross negligence or willful misconduct in the selection of such sub-agents. 
 Section 8.10 Other Agents. Each Lender
hereby acknowledges that no syndication agent, documentation agent or any other Lender designated as any other type of agent (other than administrative agent) on the signature pages hereof has any liability hereunder other than in its capacity as a
Lender. 
 ARTICLE IX 

SUCCESSORS, ASSIGNS AND PARTICIPATIONS 

Section 9.01 Binding Effect. This Agreement shall become effective when it shall have been executed by the parties
hereto and thereafter shall be binding upon and inure to the benefit of the Borrower, the Administrative Agent and each Lender and their respective successors and assigns, except that the Borrower shall not have the right to assign its rights
hereunder or any interest herein without the prior written consent of the Lenders. 

  
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 Section 9.02 Assignments. 

(a) Each Lender may, upon at least 15 Business Days’ notice to the Company and the Administrative Agent assign to one or more banks
or other entities all or a portion of its rights and obligations under this Agreement (including all or a portion of its Commitment(s), the Advances owing to it and the Note or Notes held by); provided that 

(i) prior written consent (such consent not to be unreasonably withheld or delayed) of the following shall be required: 

(x) the Company; provided that no such consent is required if an Event of Default under Section 6.01(a) or
(e) has occurred or is continuing or for an assignment to a Lender, an Affiliate of a Lender or an Approved Fund; provided further that the Company shall be deemed to have consented to any assignment unless it shall object
thereto by written notice to the Administrative Agent within 15 Business Days after having received notice thereof; and 
 (y) the
Administrative Agent; provided that no such consent is required for an assignment of a Term Loan to a Lender, an Affiliate of a Lender or an Approved Fund; 

(ii) parties to each such assignment shall execute and deliver to the Administrative Agent, for its acceptance and recording in the
Register, an Assignment and Assumption, together with any Note or Notes subject to such assignment and a processing and recordation fee of US$3,500 payable by the parties to each such assignment; 

(iii) each such assignment shall be only to an Eligible Assignee; and 

(iv) except in the case of an assignment to a Lender or an Affiliate of a Lender, the amount of the Term Loan or Term Loan Commitment of
the assigning Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Assumption with respect to such assignment) shall in no event be less than US$5,000,000, unless otherwise agreed by the Company and
the Administrative Agent. 
 Upon such execution, delivery, acceptance and recording, from and after the effective date specified in each Assignment and
Assumption, (A) the assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Assumption, have the rights and obligations of a Lender hereunder
and (B) the Lender assignor thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and Assumption, relinquish its rights (other than its rights under Sections 2.07,
2.10, 2.14, 10.04 and 10.06 to the extent any claim thereunder relates to an event arising prior to such assignment) and be released from its obligations (other than those provided in Section 10.12) under this
Agreement (and, in the case of an Assignment and Assumption covering all or the remaining portion of an assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto). Notwithstanding anything
to the contrary set forth herein, so long as the Olin Credit Agreement remains outstanding, each assignment by a Lender of its Term Loans or Term Loan Commitments hereunder shall be made concurrently with the ratable assignment to the same assignee
of such Lender’s Initial Term Loans or Initial Term Loan Commitments, as applicable (in each case under and as defined in the Olin Credit Agreement), so that at all times the ratios of (i) such Lender’s Term Loans or Term Loan
Commitments to the aggregate principal amount of Term Loans or Term Loan Commitments outstanding and (ii) such Lender’s Initial Term Loans or Initial Term Loan Commitments (in each case under and as defined in the Olin Credit Agreement) to
the aggregate amount of such Initial Term Loans or Initial Term Loan Commitments shall be identical. 

  
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 (b) By executing and delivering an Assignment and Assumption, the Lender assignor thereunder
and the assignee thereunder confirm to and agree with each other and the other parties hereto as follows: (i) other than as provided in such Assignment and Assumption, such assigning Lender makes no representation or warranty and assumes no
responsibility with respect to any statements, warranties or representations made in or in connection with this Agreement or the execution, legality, validity, enforceability, genuineness, sufficiency or value of this Agreement or any other
instrument or document furnished pursuant hereto; (ii) such assigning Lender makes no representation or warranty and assumes no responsibility with respect to the financial condition of the Borrower or the performance or observance by the
Borrower of any of its obligations under this Agreement or any other instrument or document furnished pursuant hereto; (iii) such assignee confirms that it has received a copy of this Agreement, together with copies of the financial statements
referred to in Section 4.01(e) and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into such Assignment and Assumption; (iv) such assignee will, independently
and without reliance upon the Administrative Agent, such assigning Lender or any other Lender and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking
action under this Agreement; (v) such assignee agrees that it will perform in accordance with their terms all of the obligations which by the terms of this Agreement are required to be performed by it as a Lender; (vi) such assignee
confirms that it is an Eligible Assignee; and (vii) such assignee appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement as are delegated to
the Administrative Agent by the terms hereof, together with such powers and discretion as are reasonably incidental thereto. 

(c) Upon its receipt of an Assignment and Assumption executed by an assigning Lender and an assignee representing that it is an Eligible
Assignee, together with any Notes subject to such assignment and the fee referred to in clause (a)(ii) above, the Administrative Agent shall (subject to any consents to such assignment required pursuant to the terms of this Agreement), if such
Assignment and Assumption has been completed and is in substantially the form of Exhibit C hereto, (i) accept such Assignment and Assumption, (ii) record the information contained therein in the Register and (iii) give prompt
notice thereof to the Company. 
 (d) The Administrative Agent, acting solely for this purpose as a non-fiduciary agent of the
Borrower, shall maintain, at its address set forth on Schedule 10.02, a copy of each Assignment and Assumption delivered to and accepted by it and a register for the recordation of the names and addresses of the Lenders and the Commitment(s)
of, and principal amount (and stated interest) of the Advances owing to, each Lender from time to time (the “Register”). The entries in the Register shall be conclusive and binding for all purposes, absent demonstrable error,
provided, that the failure of the Administrative Agent to make an entry, or any finding that an entry is incorrect, in the Register shall not limit or otherwise affect the obligations of the Borrower under this Agreement and the Borrower, the
Administrative Agent and the Lenders may treat each Person whose name is recorded in the Register as a Lender hereunder for all purposes of this Agreement. The Register shall be available for inspection by the Borrower or any Lender (but only
to the extent of entries in the Register that are applicable to such Lender) at any reasonable time and from time to time upon reasonable prior notice. 

(e) [Reserved] 

(f) Any Lender may pledge all or a portion of its Advances to any Federal Reserve Bank as collateral security pursuant to Regulation A of
the Board of Governors of the Federal Reserve System and any Operating Circular issued by such Federal Revenue Bank. No such assignment shall release the assigning Lender from its obligations under the Agreement. 

  
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 Section 9.03 Participations. 

(a) Each Lender may sell (other than to the Company, any Subsidiary of the Company or any natural Person) participations to one or more
banks or other entities (each, a “Participant”) in or to all or a portion of its rights and obligations under this Agreement (including all or a portion of its Commitment(s), and the Advances owing to it and the Note or Notes held
by it); provided, however, that (i) such Lender’s obligations under this Agreement (including its Commitment(s) to the Borrower hereunder) shall remain unchanged, (ii) such Lender shall remain solely responsible to the
other parties hereto for the performance of such obligations, (iii) such Lender shall remain the holder of any such Note for all purposes of this Agreement, (iv) the Borrower and the other Lenders shall continue to deal solely and directly
with such Lender in connection with such Lender’s rights and obligations under this Agreement and (v) such participation is not prohibited by applicable law. Any agreement or instrument pursuant to which a Lender sells such a
participation shall provide that such Lender shall retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; provided that such agreement or instrument may provide
that such Lender will not, without the consent of the Person acquiring such participation, agree to any amendment, modification or waiver described in clause (a), (b) or (c) of the proviso to Section 10.01 that directly affects
such Person. The Borrower agrees that each Participant shall be entitled to the benefits of Sections 2.10 and 2.14 (subject to the requirements and limitations therein, including the requirements under Section 2.14(g) (it being
understood that the documentation required under Section 2.14(g) shall be delivered to the participating Lender)) to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to Section 9.02;
provided that such Participant (i) agrees to be subject to the provisions of Sections 2.10 and 2.14 as if it were an assignee under Section 9.02 and (ii) shall not be entitled to receive any greater payment under
Sections 2.10 or 2.14, with respect to any participation, than its participating Lender would have been entitled to receive, except to the extent such entitlement to receive a greater payment results from an adoption of or any Change in Law or
compliance by any Lender with any request or directive (whether or not having the force of law) from any central bank or other Governmental Authority made subsequent to the Effective Date that occurs after the Participant acquired the applicable
participation. To the extent permitted by law, each Participant also shall be entitled to the benefits of Section 10.05 as though it were a Lender, provided such Participant shall be subject to Section 2.13 as though it were a Lender.

 (b) Each Lender that sells a participation shall, acting solely for this purpose as a non-fiduciary agent of the Borrower, maintain
a register on which it enters the name and address of each Participant and the principal amounts of (and stated interest on) each Participant’s interest in the Advances or other obligations under the Loan Documents (the “Participant
Register”); provided that no Lender shall have any obligation to disclose all or any portion of the Participant Register (including the identity of any Participant or any information relating to a Participant’s interest in any
commitments, loans, letters of credit or its other obligations under any Loan Document) to any Person except to the extent that such disclosure is necessary to establish that such commitment, loan, letter of credit or other obligation is in
registered form under Section 5f.103-1(c) of the United States Treasury Regulations. The entries in the Participant Register shall be conclusive absent manifest error, and such Lender shall treat each Person whose name is recorded in the
Participant Register as the owner of such participation for all purposes of this Agreement notwithstanding any notice to the contrary. For the avoidance of doubt, the Administrative Agent (in its capacity as Administrative Agent) shall have no
responsibility for maintaining a Participant Register. 

  
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 Section 9.04 Pledge. Any Lender may at any time pledge or assign a security
interest in all or any portion of its rights under this Agreement to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank, and this Section shall not apply to any such pledge or
assignment of a security interest; provided that no such pledge or assignment of a security interest shall release a Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party
hereto. The Borrower, upon receipt of written notice from the relevant Lender, agrees to issue Notes to any Lender requiring Notes to facilitate transactions of the type described in this Section 9.04. 

ARTICLE X 
 MISCELLANEOUS 

Section 10.01 Amendments, Etc. No amendment or waiver of any provision of this Agreement or the Notes, nor consent to
any departure by the Borrower therefrom, shall in any event be effective unless the same shall be in writing and signed by the Majority Lenders, and then such waiver or consent shall be effective only in the specific instance and for the specific
purpose for which given; provided, however, that no amendment, waiver or consent shall: (a) increase or extend the Commitment(s) of any Lender or subject any Lender to any additional obligations without the written consent of such
Lender, (b) reduce the principal of, or interest (other than any default interest) on, any Term Loan Note, Term Loan, or any fee or other amount payable hereunder without the written consent of each Lender affected thereby, (c) postpone
any date fixed for any payment of principal of, or interest on, the Term Loan Notes, Term Loans, or any fees or other amounts payable hereunder without the written consent of each Lender affected thereby, (d) change the definition of
“Majority Lenders” or the number of Lenders or percentage in interests of Lenders which shall be required for the Lenders or any of them to take any action hereunder without the written consent of all the Lenders, (e) release the
Parent Guarantor from its obligations under the Guaranty Agreement without the written consent of all of the Lenders or (f) amend this Section 10.01 without the written consent of all the Lenders and provided further
that no amendment, waiver or consent shall, unless in writing and signed by the Administrative Agent in addition to the Lenders required above to take such action, affect the rights or duties of the Administrative Agent under this Agreement or any
Note. Notwithstanding anything herein to the contrary, no Defaulting Lender shall have any right to approve or disapprove any amendment, waiver or consent hereunder, except that a Defaulting Lender shall retain its voting rights in respect of
matters set forth in clauses (a) and (b) above. 
 Notwithstanding the foregoing, this Agreement may be amended in form reasonably
satisfactory to the Administrative Agent with the written consent of the Company and the Lenders providing the relevant Replacement Term Loans (as defined below) to permit the refinancing, replacement or modification of all or any portion of the
outstanding Term Loans (“Replaced Term Loans”) with a replacement term loan hereunder (“Replacement Term Loans”); provided, that (w) the aggregate principal amount of such Replacement Term Loans shall
not exceed the aggregate principal amount of such Replaced Term Loans plus the reasonable costs, expenses, accrued interest or premiums in connection with such refinancing, replacement or modification, (x) the terms of such Replacement
Term Loans (excluding pricing, fees, rate floors and optional prepayment or redemption terms) are no more favorable to the lenders providing such Replacement Term Loans than those applicable to the Replaced Term Loans (other than any covenants or
other provisions applicable only to periods after the latest Termination Date in effect immediately prior to the incurrence of such Replacement Term Loans), (y) the maturity date of such Replacement Term Loans shall not be earlier than the
maturity date of the Replaced Term Loans and (z) the weighted average life to maturity of such Replacement Term Loans shall not be shorter than the weighted average life to maturity of such Replaced Term Loans at the time of such refinancing;
and 

  
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 Each of the parties hereto hereby agrees that this Agreement and the other Loan Documents may be
amended to include Replacement Term Loans without the consent of any other Lenders, to the extent necessary to (1) reflect the terms of such Replacement Term Loans incurred pursuant to the foregoing clauses (i) or (ii) and
(2) effect such other amendments to this Agreement and the other Loan Documents as may be necessary or appropriate, in the reasonable opinion of the Administrative Agent and the Borrower, to effect the provisions of the immediately preceding
paragraph. Furthermore, notwithstanding the foregoing, (i) the Administrative Agent, with the consent of the Company, may amend, modify or supplement any Loan Document without the consent of any Lender or the Majority Lenders in order to
correct, amend or cure any ambiguity, inconsistency or defect or correct any typographical error or other manifest error in any Loan Document and (ii) the Administrative Agent, with the consent of the Company, may amend, modify or supplement
Article II as contemplated by Section 10.17(c). 
 Section 10.02 Notices, Effectiveness, Electronic Communication.

 (a) All notices and other communications provided for hereunder shall be either (i) in writing (including telecopy
communication) and mailed, telecopied or delivered or (ii) by electronic communication as and to the extent set forth in Section 10.02(b) and in the proviso to this Section 10.02(a), and shall be delivered if to the
Borrower, at the Company’s address specified on Schedule 10.02; if to any other Lender, at its Domestic Lending Office specified in its Administrative Questionnaire or in the Assignment and Assumption pursuant to which it became a
Lender; and if to the Administrative Agent, at its address specified on Schedule 10.02; or, as to the Borrower or the Administrative Agent, at such other address as shall be designated by such party in a written notice to the other parties
and, as to each other party, at such other address as shall be designated by such party in a written notice to the Borrower and the Administrative Agent, provided that materials required to be delivered pursuant to
Section 5.01(i)(i), (ii), (iv) and (v) may be delivered to the Administrative Agent as specified in Section 10.02(b) or as otherwise specified to the Borrower by the Administrative
Agent. All such notices and communications shall, when mailed or telecopied, be effective only when received by the relevant party. Delivery by telecopier of an executed counterpart of any amendment or waiver of any provision of this
Agreement or the Notes or of any Exhibit hereto to be executed and delivered hereunder shall be effective as delivery of a manually executed counterpart thereof. 

Notices sent by hand or overnight courier service, or mailed by certified or registered mail, shall be deemed to have been given when
received; notices sent by facsimile shall be deemed to have been given when sent (except that, if not given during normal business hours for the recipient, shall be deemed to have been given at the opening of business on the next business day for
the recipient). Notices delivered through electronic communications to the extent provided in paragraph (b) below, shall be effective as provided in said paragraph (b). 

(b) Electronic Communications. Notices and other communications to the Lenders hereunder may be delivered or furnished by
electronic communication (including e-mail and Internet or intranet websites) pursuant to procedures approved by the Administrative Agent, provided that the foregoing shall not apply to notices to any Lender pursuant to Article II if
such Lender has notified the Administrative Agent that it is incapable of receiving notices under such Article by electronic communication. The Administrative Agent or the Borrower may, in their discretion, agree to accept notices and other
communications to it hereunder by electronic communications pursuant to procedures approved by it, provided that approval of such procedures may be limited to particular notices or communications. Unless the Administrative Agent
otherwise prescribes, (i) notices and other communications sent to an e-mail address shall be deemed received upon the sender’s receipt of an acknowledgement from the intended recipient (such as by the “return receipt requested”
function, as available, return e-mail or other written acknowledgement), and (ii) notices or communications posted to an Internet or intranet website shall be deemed received upon the deemed receipt by the intended recipient at its e-mail
address as described in the foregoing clause (i) of notification that such notice or communication is available and identifying the website address therefor; provided that, for both clauses (i) and (ii) above, if such notice,
e-mail or other communication is not sent during the normal business hours of the recipient, such notice, e-mail or other communication shall be deemed to have been sent at the opening of business on the next business day for the recipient. 

  
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 (c) Administrative Agent’s Office. The Administrative Agent hereby designates
its office located at the address set forth on Schedule 10.02, or any subsequent office which shall have been specified for such purpose by written notice to the Borrower and Lenders, as the Administrative Agent’s office referred to
herein, to which payments due are to be made and at which Advances will be disbursed. 
 (d) Platform. So long as Wells
Fargo or any of its Affiliates is the Administrative Agent, materials required to be delivered pursuant to Section 5.01(i)(i), (ii), (iv) and (v) may be delivered to the Administrative Agent in an
electronic medium in a format acceptable to the Administrative Agent and the Lenders by e-mail at the addresses set forth on Schedule 10.02. The Borrower agrees that the Administrative Agent may, but is not obligated to, make such
materials, as well as any other written information, documents, instruments and other material relating to the Company, any of its Subsidiaries or any other materials or matters relating to this Agreement, the Notes or any of the transactions
contemplated hereby (collectively, the “Communications”) available to the Lenders by posting such notices on Intralinks, SyndTrak or a substantially similar electronic system (the “Platform”). The Company
acknowledges that (i) the distribution of material through an electronic medium is not necessarily secure and that there are confidentiality and other risks associated with such distribution, (ii) the Platform is provided “as is”
and “as available” and (iii) neither the Administrative Agent nor any of its Related Parties warrants the accuracy, adequacy or completeness of the Borrower Materials, the Communications or the Platform and each expressly disclaims
liability for errors or omissions in the Borrower Materials, the Communications or the Platform. No warranty of any kind, express, implied or statutory, including any warranty of merchantability, fitness for a particular purpose,
non-infringement of third party rights or freedom from viruses or other code defects, is made by any Agent Party in connection with the Borrower Materials or the Platform. In no event shall the Administrative Agent or any of its Related Parties
(collectively, the “Agent Parties”) have any liability to the Borrower, any Lender or any other Person or entity for losses, claims, damages, liabilities or expenses of any kind (whether in tort, contract or otherwise) arising out
of the Borrower’s or the Administrative Agent’s transmission of communications through the Internet (including the Platform), except to the extent that such losses, claims, damages, liabilities or expenses are determined by a court of
competent jurisdiction by final and non-appealable judgment to have resulted from the gross negligence or willful misconduct of such Agent Party; provided that in no event shall any Agent Party have any liability to the Borrower, any Lender
or any other Person for indirect, special, incidental, consequential or punitive damages, losses or expenses (as opposed to actual damages, losses or expenses). “Borrower Materials” mean, collectively, any notice, demand,
communication, information, document or other material provided by or on behalf of the Borrower pursuant to any Loan Document or the transactions contemplated therein which is distributed to the Administrative Agent or any Lender by means of
electronic communications pursuant to this Section, including through the Platform. 
 Section 10.03 No Waiver;
Remedies. No failure on the part of any Lender or the Administrative Agent to exercise, and no delay in exercising, any right hereunder or under any Note shall operate as a waiver thereof; nor shall any single or partial exercise of any
such right preclude any other or further exercise thereof or the exercise of any other right. The remedies herein provided are cumulative and not exclusive of any remedies provided by law. 

Section 10.04 Costs and Expenses; Damage Waiver. 

  
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 (a) The Company shall pay (i) all reasonable and documented out-of-pocket expenses
incurred by the Administrative Agent, the Arrangers and their respective Affiliates in connection with (x) the structuring, arrangement and syndication of the Commitments (including the reasonable and documented fees, charges and disbursements
of one outside counsel for the Administrative Agent, the Arrangers and their respective Affiliates and, if necessary, one local counsel in each appropriate jurisdiction) and (y) the preparation, negotiation, execution, delivery and
administration of this Agreement and the other Loan Documents or any amendments, modifications or waivers of the provisions hereof or thereof, whether or not the transactions contemplated hereby or thereby shall be consummated (including the
reasonable and documented fees, charges and disbursements of one outside counsel for the Administrative Agent, the Arrangers and their respective Affiliates), and (ii) all out-of-pocket expenses incurred by the Administrative Agent or any
Lender (including the reasonable fees, charges and disbursements of any outside counsel for the Administrative Agent or any Lender), in connection with the enforcement of its rights in connection with this Agreement and the other Loan Documents.

 (b) If any payment of principal of any Eurodollar Rate Advance is made by the Borrower to or for the account of a Lender other than
on the last day of the Interest Period for such Advance, as a result of acceleration of the maturity of the Notes pursuant to Section 6.01 or for any other reason (including as a result of the replacement of such Lender in accordance
with Section 2.17(b)), the Borrower shall, upon demand by such Lender (with a copy of such demand to the Administrative Agent), pay to the Administrative Agent for the account of such Lender any amounts required to compensate such Lender
for any additional losses, costs or expenses which it may reasonably incur as a result of such payment, including any loss (excluding loss of anticipated profits), cost or expense incurred by reason of the liquidation or reemployment of deposits or
other funds acquired by any Lender to fund or maintain such Advance. Each Lender demanding payment of such amount shall provide, at the time of making such demand, the Borrower and the Administrative Agent with reasonable details, including the
basis for the calculation thereof, of such increase, provided that, in the absence of manifest error, the amount so notified shall be conclusive and binding upon the Borrower. 

(c) Each party’s obligations under this Section shall survive the termination of the Loan Documents and payment of the obligations
hereunder. 
 Section 10.05 Right of Set-off. Upon (a) the occurrence and during the continuance of any Event of
Default and (b) the making of the request or the granting of the consent specified by Section 6.01 to authorize the Agent to declare the Notes due and payable pursuant to the provisions of Section 6.01, each Lender is
hereby authorized at any time and from time to time, to the fullest extent permitted by applicable law, to set off and apply any and all deposits (general or special, time or demand, provisional or final) at any time held and other indebtedness at
any time owing by such Lender to or for the credit or the account of the Borrower against any and all of the obligations of the Borrower now or hereafter existing under this Agreement and the other Loan Documents whether or not such Lender shall
have made any demand under this Agreement or the Note held by such Lender and although such obligations may be unmatured. Each Lender agrees promptly to notify the Borrower after any such set-off and application, provided that the
failure to give such notice shall not affect the validity of such set-off and application. The rights of each Lender under this Section are in addition to other rights and remedies (including other rights of set-off) that such Lender may have.

 Section 10.06 Indemnification by Company. The Company agrees to indemnify and hold harmless the Administrative
Agent, the Arrangers, the Lenders and the respective affiliates of the foregoing and each of their respective Related Parties (each, an “Indemnified Party”) from and against any and all claims, damages, liabilities, obligations,
losses, penalties, actions, judgments, suits, costs and reasonable and documented out-of-pocket expenses and disbursements (including reasonable fees and disbursements of one outside counsel for all Indemnified Parties, taken as a whole, and, if
necessary, of a single firm of local counsel in each appropriate jurisdiction (which may include a single firm of special counsel acting in multiple jurisdictions) for all such Indemnified Parties, taken as a whole (and, in the case of an actual or
perceived conflict of interest where the Indemnified Party affected by such conflict informs the Company of such conflict and thereafter retains its own counsel, of another firm of counsel for such affected Indemnified Party and, if necessary, of a
single firm of local counsel in each appropriate jurisdiction (which may include a single firm of special counsel in multiple jurisdictions) for such affected Indemnified Party) of any kind or nature whatsoever (“Claims”) which may
be imposed on, incurred by or asserted against such Indemnified Party in connection with or arising out of any investigation, litigation or proceeding (including any threatened investigation, litigation or proceeding or preparation of a defense in
connection therewith) related to the Notes, this Agreement, any of the transactions contemplated herein or the actual or proposed use of the proceeds of the Advances; provided that the foregoing indemnity shall not apply to the Claims of any
Indemnified Party to the extent such Claims (i) are found in a final and non-appealable judgment of a court of competent jurisdiction to have resulted from the willful misconduct, bad faith or gross negligence of such Indemnified Party,
(ii) result from a claim brought by the Company or any of its Subsidiaries against such Indemnified Party for material breach of such Indemnified Party’s obligations under this Agreement if the Company or such Subsidiary has obtained a
final and non-appealable judgment in its or its Subsidiary’s favor on such claim as determined by a court of competent jurisdiction or (iii) result from a proceeding that does not involve an act or omission by the Company or any of its
Affiliates and that is brought by an Indemnified Party against any other Indemnified Party (other than claims against any arranger, bookrunner or agent in its capacity or in fulfilling its roles as an arranger, bookrunner or agent hereunder or any
similar role with respect to this Agreement or any Commitments). In the case of an investigation, litigation or other proceeding to which the indemnity in this Section 10.06 applies, such indemnity shall be effective whether or not
such investigation, litigation or proceeding is brought by the Company, its directors, equityholders or creditors or an Indemnified Party or any other Person, whether or not any Indemnified Party is otherwise a party thereto and whether or not the
transactions contemplated hereby are consummated. The Borrower also agrees not to assert any claim for special, indirect, consequential or punitive damages against the Administrative Agent, any Lender, any of their Affiliates, or any of their
respective directors, officers, employees, attorneys and agents, on any theory of liability, arising out of or otherwise relating to this Agreement or any of the other Loan Documents or any agreement or instrument contemplated hereby, any of the
transactions contemplated herein or the actual or proposed use of the proceeds of the Advances. 

  
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 Section 10.07 Governing Law. This Agreement and the other Loan Documents
and any claim, controversy, dispute or cause of action (whether in contract or tort or otherwise) based upon, arising out of or relating to this Agreement or any other Loan Document (except, as to any other Loan Document, as expressly set forth
therein) and the transactions contemplated hereby and thereby shall be governed by, and construed in accordance with, the law of the State of New York. 

Section 10.08 Execution in Counterparts; Integration; Effectiveness. This Agreement may be executed in any number of
counterparts and by different parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original, and all of which taken together shall constitute one and the same agreement. This Agreement and the other
Loan Documents, and any separate letter agreements with respect to fees payable to the Administrative Agent and/or the Arrangers, constitute the entire contract among the parties relating to the subject matter hereof and supersede any and all
previous agreements and understandings, oral or written, relating to the subject matter hereof. Except as provided in Section 3.01, this Agreement shall become effective when it shall have been executed by the Administrative Agent
and when the Administrative Agent shall have received counterparts hereof that, when taken together, bear the signatures of each of the other parties hereto. Delivery of an executed counterpart of a signature page to this Agreement by facsimile
or in electronic (i.e., “pdf” or “tif”) format shall be effective as delivery of a manually executed counterpart of this Agreement. 

  
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 Section 10.09 Special Prepayment Right. (a) In the event that a Change
of Control Date shall occur, the Company will, within 10 days after such Change of Control Date, give the Administrative Agent written notice thereof and describe in reasonable detail the facts and circumstances giving rise thereto, and the Borrower
will prepay, if any Lender shall so request, all of the Advances from such Lender plus interest accrued to the date of prepayment and any other fees and amounts as may then be payable by the Borrower to such Lender under this
Agreement. Said request (the “Prepayment Notice”) shall be made by a Lender in writing not later than 45 days after the Change of Control Date and shall specify (i) the date (the “Special Prepayment Date”)
upon which the Borrower shall prepay the Advances made to it, which date shall be not less than 15 days nor more than 45 days from the date of the Prepayment Notice and (ii) the amount of the Advances to be prepaid. In the event of such
request, the Commitment(s) of such Lender to make Advances shall forthwith terminate. 
 (b) On the Special Prepayment Date, the
Borrower shall prepay all of the Advances of such Lender made to the Borrower plus interest accrued thereon to the Special Prepayment Date and such other fees and amounts as may then be payable by the Borrower under this
Agreement. Payment shall be made as provided in this Agreement. 
 (c) For the purposes of this Section 10.09: 

(i) the term “Change of Control Date” shall mean (A) at any time (i) prior to the Separation or (ii) if
the Merger has been terminated or abandoned, at any time, TDCC shall fail to own 100% of the Borrower, (B) at any time following the Separation but prior to the Merger, the first day on which any person (other than Olin), or group of related
persons, has beneficial ownership of more than 33 1/3% of the outstanding voting stock of the Borrower, (C) at any time following the Merger, the first day on which any person, or group of related persons, has beneficial ownership of more than
33 1/3% of the outstanding voting stock of the Company or (D) at any time following the Merger, the date immediately following the first date on which the members of the Board of Directors of the Company (the “Board”) at the
commencement of any period of 730 consecutive days (together with any other Directors whose appointment or election by the Board or whose nomination for election by the stockholders of the Company was approved by a vote of at least a majority of the
Directors then in office who either were Directors at the beginning of such period or whose appointment or election or nomination for election was previously so approved) shall cease to constitute a majority of the Board at the end of such period;
provided, however, that a Change of Control Date shall not be deemed to have occurred under clause (C) hereof if (x) the Company shall have merged or disposed of a portion of its assets in compliance with the requirements of
subsection 5.02(c) hereof within 10 days after the acquisition of such beneficial ownership shall have occurred and (y) no person or group of related persons shall have beneficial ownership of more than 33 1/3% of the outstanding voting stock
of the Company after such merger or disposition, and 
 (ii) the term “voting stock” shall mean stock of any class or
classes (however designated) having ordinary voting power for the election of a majority of the directors of the Company other than stock having such power only by reason of a contingency. 

Section 10.10 Jurisdiction, Etc. 

(a) The Borrower hereby irrevocably and unconditionally submits, for itself and its property, to the exclusive jurisdiction of any New
York State court or federal court of the United States of America sitting in New York City, and any appellate court from any thereof, in any action or proceeding arising out of or relating to this Agreement or any of the other Loan Documents, or for
recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably and unconditionally submits to the jurisdiction of such courts and agrees that all claims in respect of any such action or proceeding may be heard and
determined in any such New York State court or, to the extent permitted by law, in such federal court. The Borrower hereby further irrevocably consents to the service of process in any action or proceeding in such courts by the mailing thereof
by any parties hereto by registered or certified mail, postage prepaid, to the Borrower at the address of the Company specified pursuant to Section 10.02. Each of the parties hereto agrees that a final judgment in any such action or
proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in this Agreement shall affect any right that the Administrative Agent or the Lenders may
otherwise have to bring any action or proceeding relating to this Agreement or any of the other Loan Documents in the courts of any jurisdiction. 

  
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 (b) Each of the parties hereto irrevocably and unconditionally waives, to the fullest extent
it may legally and effectively do so, any objection that it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Agreement or any of the other Loan Documents in any New York State or
federal court sitting in New York City. Each of the parties hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court. 

Section 10.11 [Reserved] 

Section 10.12 Confidentiality. Each of the Administrative Agent and the Lenders expressly agrees, for the benefit of the
Company and its Subsidiaries, to maintain the confidentiality of the Confidential Information, except that Confidential Information may be disclosed (a) to its Affiliates and their Related Parties (it being understood that the Persons to whom
such disclosure is made will be informed of the confidential nature of such Confidential Information and instructed to keep such Confidential Information confidential), (b) to any rating agency, or regulatory or similar authority having, or
purporting to have, jurisdiction over such Person or its Related Parties (including any self-regulatory authority, such as the National Association of Insurance Commissioners, or in connection with any regulatory examination of the Administrative
Agent or any Lender or in accordance with the Administrative Agent’s or any Lender’s regulatory compliance policy if the Administrative Agent or such Lender deems disclosure necessary for the mitigation of claims by those authorities
against the Administrative Agent or such Lender or any of its Subsidiaries or Affiliates), (c) to the extent required by applicable laws or regulations or by any subpoena or similar legal process, (d) to any other party to this Agreement,
(e) in connection with the exercise of any remedies hereunder or any suit, action or proceeding relating to this Agreement or the enforcement of rights hereunder, (f) subject to an express agreement for the benefit of the Company and its
Subsidiaries containing provisions substantially the same as those of this Section, to any Eligible Assignee of or participant in, or any prospective assignee of or participant in, any of its rights or obligations under this Agreement, (g) with
the consent of the Company, (h) on a confidential basis to (i) any rating agency in connection with rating the Borrower or its Subsidiaries or this Agreement or (ii) the CUSIP Service Bureau or any similar agency in connection with
the issuance and monitoring of CUSIP numbers, (i) to Gold Sheets and other similar bank trade publications, such information to consist of deal terms and other information customarily found in such publications, (j) to data service
providers, including league table providers, that serve the lending industry, such information to consist of information customarily provided to such data service providers or (k) to the extent such Confidential Information (i) becomes
publicly available other than as a result of a breach of this Section or (ii) becomes available to the Administrative Agent or any Lender on a nonconfidential basis from a source other than the Company or any of its Subsidiaries. For the
purposes of this Section, “Confidential Information” means all information, including material nonpublic information with the meaning of Regulation FD promulgated by the SEC (“Regulation FD”), received from the
Company or its Subsidiaries relating to such entities or their respective businesses, other than any such information that is available to the Administrative Agent or any Lender on a nonconfidential basis prior to disclosure by such entities;
provided, that such information is clearly identified at the time of delivery as confidential. Any Person required to maintain the confidentiality of Confidential Information as provided in this Section shall be considered to have
complied with its obligation to do so if such Person has exercised the same degree of care to maintain the confidentiality of such information as such Person customarily accords to its own confidential information; provided, however,
that with respect to disclosures pursuant to clauses (b) and (c) of this Section, unless prohibited by law or applicable court order, each Lender and the Administrative Agent shall attempt to notify the Company of any request by any
governmental agency or representative thereof or other Person for disclosure of Confidential Information after receipt of such request, and if reasonable, practicable and permissible, before disclosure of such Confidential Information. It is
understood and agreed that the Company, its Subsidiaries and their respective Affiliates may rely upon this Section for any purpose, including to comply with Regulation FD. 

  
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 The Administrative Agent agrees to keep confidential the Submitted Reference Bank Rates to be
used in the calculation of the Reference Bank Rate; provided that the Submitted Reference Bank Rates may be shared with the Borrower and any of its employees, directors, agents, attorneys, accountants and other professional advisors or those
of any of its affiliates that have a commercially reasonable business need to know such rates (provided that, prior to receipt of such rates, any recipient thereof (other than the Borrower) shall (i) certify to the Administrative Agent
that it is not an individual who is formally designated as being involved in the ICE LIBOR submission process and (ii) shall agree to comply with the provisions of this paragraph as if it were the Administrative Agent). The Borrower hereby
represents and warrants, as of the Closing Date and each date on which it receives Submitted Reference Bank Rates, that it is not an individual who is formally designated as being involved in the ICE LIBOR submission process, and agrees to comply
with the provisions of this paragraph as if it were the Administrative Agent. For the avoidance of doubt, the Reference Bank Rate shall be disclosed to Lenders in accordance with Section 2.08(b). 

Section 10.13 Patriot Act, Etc. Each Lender hereby notifies the Borrower that, pursuant to the requirements of the USA
Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)) (the “Act”), it is required to obtain, verify and record information that identifies each borrower, guarantor or grantor (the “Loan
Parties”), which information includes the name and address of each Loan Party and other information that will allow such Lender to identify such Loan Party in accordance with the Act. 

Section 10.14 Judgment. (a) If for the purposes of obtaining judgment in any court it is necessary to convert a sum
due hereunder in one currency into another currency, the parties hereto agree, to the fullest extent that they may effectively do so, that the rate of exchange used shall be that at which in accordance with normal banking procedures the
Administrative Agent could purchase the first currency with such other currency at Citibank’s principal office in London at 11:00 A.M. (London time) on the Business Day preceding that on which final judgment is given. 

(b) The obligation of the Borrower in respect of any sum due from it in any currency (the “Primary Currency”) to any
Lender or the Administrative Agent hereunder shall, notwithstanding any judgment in any other currency, be discharged only to the extent that on the Business Day following receipt by such Lender or the Administrative Agent (as the case may be), of
any sum adjudged to be so due in such other currency, such Lender or the Administrative Agent (as the case may be) may in accordance with normal banking procedures purchase the applicable Primary Currency with such other currency; if the amount of
the applicable Primary Currency so purchased is less than such sum due to such Lender or the Administrative Agent (as the case may be) in the applicable Primary Currency, the Borrower agrees, as a separate obligation and notwithstanding any such
judgment, to indemnify such Lender or the Administrative Agent (as the case may be) against such loss, and if the amount of the applicable Primary Currency so purchased exceeds such sum due to any Lender or the Administrative Agent (as the case may
be) in the applicable Primary Currency, such Lender or the Administrative Agent (as the case may be) agrees to remit to the Borrower such excess. 

  
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 Section 10.15 Waiver of Jury Trial. The Borrower, the Administrative Agent
and the Lenders hereby irrevocably waives all right to trial by jury in any action, proceeding or counterclaim (whether based on contract, tort or otherwise) arising out of or relating to this Agreement or any of the other Loan Documents or the
actions of the administrative Agent or any Lender in the negotiation, administration, performance or enforcement thereof. 

Section 10.16 Acknowledgments. The Borrower hereby acknowledges and agrees that (a) no fiduciary, advisory or
agency relationship between the Borrower and the Credit Parties is intended to be or has been created in respect of any of the transactions contemplated by this Agreement or the other Loan Documents, irrespective of whether the Credit Parties have
advised or are advising the Borrower on other matters, and the relationship between the Credit Parties, on the one hand, and the Borrower, on the other hand, in connection herewith and therewith is solely that of creditor and debtor, (b) the
Credit Parties, on the one hand, and the Borrower, on the other hand, have an arm’s length business relationship that does not directly or indirectly give rise to, nor does the Borrower rely on, any fiduciary duty to the Borrower or its
affiliates on the part of the Credit Parties, (c) the Borrower is capable of evaluating and understanding, and the Borrower understands and accepts, the terms, risks and conditions of the transactions contemplated by this Agreement and the
other Loan Documents, (d) the Borrower has been advised that the Credit Parties are engaged in a broad range of transactions that may involve interests that differ from the Borrower’s interests and that the Credit Parties have no
obligation to disclose such interests and transactions to the Borrower, (e) the Borrower has consulted its own legal, accounting, regulatory and tax advisors to the extent the Borrower has deemed appropriate in the negotiation, execution and
delivery of this Agreement and the other Loan Documents, (f) each Credit Party has been, is, and will be acting solely as a principal and, except as otherwise expressly agreed in writing by it and the relevant parties, has not been, is not, and
will not be acting as an advisor, agent or fiduciary for the Borrower, any of its affiliates or any other Person, (g) none of the Credit Parties has any obligation to the Borrower or its affiliates with respect to the transactions contemplated
by this Agreement or the other Loan Documents except those obligations expressly set forth herein or therein or in any other express writing executed and delivered by such Credit Party and the Borrower or any such affiliate and (h) no joint
venture is created hereby or by the other Loan Documents or otherwise exists by virtue of the transactions contemplated hereby among the Credit Parties or among the Borrower and the Credit Parties. 

  
 64 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their
respective officers thereunto duly authorized, as of the date first above written. 
  

					
	Borrower
	
	BLUE CUBE SPINCO INC.
		
	By:	 	 /s/ Mark A. Bachman

		 	Name:	 	Mark A. Bachman
		 	Title:	 	Treasurer

 Blue Cube Spinco Inc. 

Credit Agreement 
 Signature Pages

 
					
	Administrative Agent
	
	 WELLS FARGO BANK, NATIONAL ASSOCIATION,

as Administrative Agent

		
	By:	 	 /s/ Peter R. Martinets

		 	Name:	 	Peter Martinets
		 	Title:	 	Managing Director

 Blue Cube Spinco Inc. 

Credit Agreement 
 Signature Pages

 
					
	Lenders
	
	WELLS FARGO BANK, NATIONAL ASSOCIATION as a Term Loan Lender
		
	By:	 	 /s/ Peter R. Martinets

		 	Name:	 	Peter Martinets
		 	Title:	 	Managing Director
	
	JPMORGAN CHASE BANK, N.A., as a Term Loan Lender
		
	By:	 	 /s/ Krys Szremski

		 	Name:	 	Krys Szremski
		 	Title:	 	Vice President
	
	BANK OF AMERICA, N.A., as a Term Loan Lender
		
	By:	 	 /s/ Eric A. Escagne

		 	Name:	 	Eric A. Escagne
		 	Title:	 	Senior Vice President
	
	CITIBANK, N.A., as a Term Loan Lender
		
	By:	 	 /s/ Michael Vondriska

		 	Name:	 	Michael Vondriska
		 	Title:	 	Vice President
	
	PNC BANK, NATIONAL ASSOCIATION, as a Term Loan Lender
		
	By:	 	 /s/ Thomas S. Sherman

		 	Name:	 	Thomas S. Sherman
		 	Title:	 	Senior Vice President
	
	THE BANK OF TOKYO-MITSUBISHI UFJ, LTD., as a Term Loan Lender
		
	By:	 	 /s/ Victor Pierzchalski

		 	Name:	 	Victor Pierzchalski
		 	Title:	 	Authorized Signatory

 Blue Cube Spinco Inc. 

Credit Agreement 
 Signature Pages

 
					
	SUMITOMO MITSUI BANKING CORPORATION, as a Term Loan Lender
		
	By:	 	 /s/ David W. Kee

		 	Name:	 	David W. Kee
		 	Title:	 	Managing Director
	
	THE BANK OF NOVA SCOTIA, as a Term Loan Lender
		
	By:	 	 /s/ Rafael Tobon

		 	Name:	 	Rafael Tobon
		 	Title:	 	Director
	
	MIZUHO BANK, LTD., as a Term Loan Lender
		
	By:	 	 /s/ Donna DeMagistris

		 	Name:	 	Donna DeMagistris
		 	Title:	 	Authorized Signatory
	
	SANTANDER BANK, N.A., as a Term Loan Lender
		
	By:	 	 /s/ John W. Deegan

		 	Name:	 	John W. Deegan
		 	Title:	 	Executive Director
	
	THE TORONTO-DOMINION BANK, as a Term Loan Lender
		
	By:	 	 /s/ Andrew Chiodo

		 	Name:	 	Andrew Chiodo
		 	Title:	 	AVP, Credit National Accounts
		
	By:	 	 /s/ Scott Stewart

		 	Name:	 	Scott Stewart
		 	Title:	 	Senior Analyst National Accounts

 Blue Cube Spinco Inc. 

Credit Agreement 
 Signature Pages

 
					
	NORTHERN TRUST COMPANY, as a Term Loan Lender
		
	By:	 	 /s/ John Canty

		 	Name:	 	John Canty
		 	Title:	 	Senior Vice President
	
	SUNTRUST BANK, as a Term Loan Lender
		
	By:	 	 /s/ Chris Hursey

		 	Name:	 	Chris Hursey
		 	Title:	 	Director
	
	BRANCH BANK AND TRUST, as a Term Loan Lender
		
	By:	 	 /s/ John P. Malloy

		 	Name:	 	John P. Malloy
		 	Title:	 	Senior Vice President

 Blue Cube Spinco Inc. 

Credit Agreement 
 Signature Pages

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