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EXHIBIT 10(u)    
    

THE DOW CHEMICAL COMPANY

2003 NON-EMPLOYEE DIRECTORS' STOCK INCENTIVE PLAN  

	1.
	Establishment and Purpose of the Plan.  

The
Dow Chemical Company 2003 Non-Employee Directors' Stock Incentive Plan (the "Plan") is established upon the following terms and conditions. The purposes of the Plan are to advance the
interests of The Dow Chemical Company (the "Company") through the attraction, motivation and retention of qualified non-employee Directors. The Plan will provide a means for
non-employee Directors to increase their equity ownership of the Company consistent with the Company's guidelines for stock ownership by non-employee Directors. By increasing
their ownership interest in the Company, the economic interests of the non-employee Directors will more closely align with those of all other stockholders of the Company. If approved by
the stockholders, no additional grants will be made from the 1998 Non-Employee Directors' Stock Incentive Plan after the date of such approval. 

	2.
	Definitions.

	2.01
	Award: A grant of Options, Restricted Stock, and/or Deferred Stock to an Awardee.

	2.02
	Awardee: An Eligible Director to whom an Award is made.

	2.03
	Award Agreement: Each Award of Options, Restricted Stock or Deferred Stock shall be evidenced by an Option Agreement, a Restricted
Stock Agreement or a Deferred Stock Agreement. Such Award Agreement shall conform to the provisions of the Plan and shall specify the Date of Grant, the Option Price for grants of Options, vesting
provisions and any restrictions for grants of Restricted Stock or Deferred Stock.

	2.04
	Basic Annual Award: An Award granted to each Eligible Director once each year based upon the formulas described in Section 13.

	2.05
	Board of Directors: The Board of Directors of the Company.

	2.06
	Change of Control:

Definition: "Change in Control" shall be deemed to have occurred if: 

	(a)
	any
one person, or more than one person acting as a group, acquires ownership of stock of the Company that, together with stock held by such person or group, constitutes more than 50%
of the total fair market value or total voting power of the stock of the Company, or

	(b)
	a
majority of the members of the Board of Directors of the Company is replaced during any 12-month period by directors whose appointment or election is not endorsed by a
majority of the directors before the date of the appointment or election, or

	(c)
	any
one person, or more than one person acting as a group, acquires (or has acquired during the 12-month period ending on the date of the most recent acquisition by such
person or persons) ownership of stock of the Company possessing 30% or more of the total voting power of the stock of such corporation, or

	(d)
	any
one person, or more than one person acting as a group, acquires (or has acquired during the 12-month period ending on the date of the most recent acquisition by such
person or persons) assets from Company that has a total gross fair market value equal to or more than 40% of the total gross fair market value of all of the Company immediately before such acquisition
or acquisitions, provided that the following asset transfers shall not result in a Change of Control: (i) a transfer of assets to a stockholder of Company in exchange for or with respect to its
stock, (ii) a transfer to a corporation, 50% or more of the total value or voting power of which is owned, directly or indirectly, by the Company, (iii) a transfer to a person, or more
than one person acting as a group, that owns 50% or more of the stock of the Company or (iv) a transfer to an entity, at least 50% of the total value or voting power of which is owned, directly
or indirectly, by a person described in clause (iii). 

This
definition of "Change of Control" is intended to conform to the definition of a "change in ownership or effective control of a corporation, or a change in the ownership of a substantial portion
of the assets of a corporation" as defined under Section 409A of the Internal Revenue Code pursuant to Internal Revenue Service Notice 2005-1 and any subsequent authority issued
pursuant to Section 409A of the Internal Revenue Code, and no corporate event shall be considered a Change of Control unless it meets such requirements. 

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	2.07
	Common Stock: The Common Stock of the Company, par value $2.50 per share, or such other class or kind of share or other securities as
may be applicable under Section 6.

	2.08
	Company: The Dow Chemical Company, a Delaware corporation, or any successor to substantially all its business.

	2.09
	Date of Grant: The date an Award is granted to an Eligible Director. The Date of Grant will be March 5 of each year during the
life of the Plan and for any supplemental grant, on a date determined by the Board of Directors. If the New York Stock Exchange ("NYSE") is not open on such date, the Date of Grant will be the next
subsequent day on which the NYSE is open.

	2.10
	Deferred Stock: Deferred Stock is Common Stock of the Company to be issued to an Awardee under the Plan in one or more installments
beginning at such time in the future as the Committee on Directors and Governance shall determine. Prior to the issuance of Deferred Stock, the Company shall pay or accrue an amount equivalent to the
dividends on that Deferred Stock from the date of grant. Awards of Deferred Stock shall be made pursuant to a Deferred Stock Agreement between the Company and each Awardee that may contain additional
terms.

	2.11
	Deferred Stock Agreement: The written agreement between the Company and the Awardee for a grant of Deferred Stock.

	2.12
	Eligible Director: Any person who on the date of grant is a member of the Board of Directors of the Company and is not an employee of
the Company or of any Subsidiary as defined in Section 2.20.

	2.13
	Fair Market Value: As applied to a specific date, the closing market price of Common Stock, as reported on the consolidated
transaction reporting system for the NYSE on such date, or, if the Common Stock was not traded on such date, on the next preceding day on which the Common Stock was traded.

	2.14
	Option: Any option or options providing for the purchase of a stated number of whole, not fractional, shares of Common Stock pursuant
to Section 5.

	2.15
	Option Agreement: The written agreement between the Company and Awardee for the grant of an Option.

	2.16
	Option Price: The price at which Common Stock of the Company may be purchased upon the exercise of an Option shall be the Fair Market
Value on the Date of Grant.

	2.17
	Plan: The Dow Chemical Company 2003 Non-Employee Directors' Stock Incentive Plan.

	2.18
	Restricted Stock: Restricted Stock under the Plan is Common Stock of the Company restricted as to sale for such time, and/or under
such conditions, as the Governance Committee shall determine. Prior to the lifting of the restrictions, the Awardee will nevertheless be entitled to receive dividends from and to vote the shares of
Restricted Stock. Awards of Restricted Stock shall be made pursuant to a Restricted Stock Agreement between the Company and each Awardee that may contain additional terms.

	2.19
	Restricted Stock Agreement: The written agreement between the Company and the Awardee for a grant of Restricted Stock.

	2.20
	Subsidiary: Any business association (including a corporation or a partnership other than the Company) in an unbroken chain of such
associations beginning with the Company if each of the associations other than the last association in the unbroken chain owns equity interests (including stock or partnership interests) possessing
fifty (50) percent or more of the total combined voting power of all classes of equity interests in one or the other associations in such chain.

	2.21
	Supplemental Grant: A grant of Options, Restricted Stock, or Deferred Stock that is in addition to the Basic Annual Award and is
granted to an Eligible Director as a result of that Eligible Director taking on additional responsibilities as a member of the Board of Directors of the Company.

	3.
	Stock Subject to the Plan.

The
total number of shares of Common Stock which may be awarded under the Plan is 1,500,000. If any shares subject to any Award granted hereunder are forfeited or such Award otherwise terminates
without the issuance of such shares or of other consideration in lieu of such shares, the shares subject to such Award, to the extent of such termination or forfeiture, shall again be available for
grant under the Plan during the term of the Plan. 

	4.
	Duration of Plan.

The
Plan shall have a duration of ten (10) years commencing on January 1, 2003. 

	5.
	Grants of Stock.

	5.01
	Frequency of Grants. Basic Annual Awards shall be made on an annual basis on the Date of Grant as defined in Section 2.09.
Supplemental Grants may be made at any time in the discretion of the Board of Directors. If the Plan is approved by the Company's stockholders, grants of Restricted Stock pursuant to
Section 13(b) will be made as of March 5, 2003. 

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	5.02
	Size of Grants. The size of each Basic Annual Award shall be determined by the Governance Committee as described in Section 13.
The size of any Supplemental Grant shall be determined by the Board of Directors.

	5.03
	Individual Limits. An annual aggregate limit of 25,000 shares (including Options, Restricted Stock, and Deferred Stock) is set for any
individual Director, such limit including both the Basic Annual Award and any Supplemental Grant received during any given calendar year.

	5.04
	Types of Grants. Grants may consist of Options, Restricted Stock, or Deferred Stock or a combination of Options, Restricted Stock and
Deferred Stock during any given calendar year.

	5.05
	Terms of Grants. Stock Options are non-qualified right-to-buy Options for the purchase of Common
Stock of the Company. The term of each Option shall be ten (10) years from the Date of Grant. The Option Price shall be the Fair Market Value of Dow Common Stock on the date the Option is
granted. Under no circumstances shall any Option vest in less than one year from the Date of Grant. Shares purchased upon exercise of an Option must be paid for in full at the time of exercise either
in cash or with currently owned shares. Neither the Governance Committee nor the Board of Directors may reprice any Option that is "underwater." Restricted Stock is Common Stock of the Company
restricted as to sale in such fashion as the Governance Committee shall determine. Prior to the lifting of the restrictions, the Awardee will be entitled to receive dividends from the Restricted Stock
on the Company's stated dividend payment dates and to vote the shares of Restricted Stock. Lifting of restrictions will be accelerated in the event of a Change of Control as defined in
Section 2.06. Deferred Stock is Common Stock of the Company to be issued to an Awardee under the Plan in one or more installments beginning at such time in the future as the Governance
Committee shall determine. As specified in the Deferred Stock Agreement, on the date of issuance of the Deferred Stock, or as soon as administratively practicable thereafter, the Company shall pay an
amount equivalent to the dividends on that Deferred Stock from the date of grant. Delivery of the Deferred Stock will be accelerated in the event of a Change in Control as defined in
Section 2.06.

	5.06
	Termination of Membership on the Board of Directors. Notwithstanding the provisions of Section 5.05, an Option whose term has
not yet expired that is held by an Awardee shall become fully vested and immediately exercisable upon such Awardee's death or retirement from the Board of Directors. Any such Options must be exercised
(a) within five (5) years from such termination of Board membership or Change of Control or (b) within the original term of the Option, whichever time is less, or such Option
shall thereafter automatically terminate. Options held by an Awardee whose membership on the Board of Directors terminates for reasons other than those described above, unless subject to the
provisions of Section 8 of the Plan, shall expire within six (6) months from Board termination and are exercisable only to the extent they have vested, as provided for under
Section 5.05, prior to expiration. Grants of Restricted Stock shall have their restrictions accelerated in the event of the Director's death or retirement from the Board of Directors. In such
event, the Common Stock related to such grant shall be delivered to the retired Director or such Director's beneficiary as soon as administratively feasible after such event. Grants of Deferred Stock
shall have their issuance accelerated in the event of the Director's death or retirement from the Board of Directors. In such event, the Common Stock related to such grant shall be delivered to the
retired Director or such Director's beneficiary as soon as administratively feasible after such event.

	6.
	Adjustments upon Changes in Capitalization.

In
the event of a reorganization, recapitalization, stock split, stock dividend, combination of shares, merger, consolidation or any other change in corporate structure of the Company affecting Common
Stock, or a sale by the Company of all or a substantial part of its assets, or any distribution to stockholders other than a cash dividend, the Board of Directors of the Company will make appropriate
adjustment in the number and kind of shares authorized by the Plan, and any adjustments to outstanding awards as it deems appropriate. However, no fractional shares of Common Stock will be issued
pursuant to any such adjustment, and the Fair Market Value of any fractional shares resulting from adjustments will be paid in cash to the Awardee. 

	7.
	General Provisions.

Each
Award is normally made through a written Award Agreement between the Company and the Awardee. Nothing contained in the Plan, or in any Award granted pursuant to the Plan, shall confer upon any
Awardee any right with respect to continuance as a Director. 

	8.
	Forfeiture.

All
Options, Restricted Stock, and Deferred Stock granted to an Awardee shall automatically terminate and be null and void as of the date an Eligible Director's service on the Board of Directors
terminates if the directorship is terminated as a result of any act of (a) fraud or intentional misrepresentation, or (b) embezzlement, misappropriation, or conversion of assets or
opportunities of the Company or any Subsidiary. 

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	9.
	Non-Assignability.

Awards
may not be pledged, assigned, or transferred for any reason during the Awardee's lifetime, and any attempt to do so shall be void and the relevant Award shall be immediately forfeited. 

	10.
	Beneficiary upon Awardee's Death.

Notwithstanding
the provisions of Section 9, an Awardee's Award shall be transferable at his or her death to the beneficiary designated by the Awardee on forms prescribed and filed with the
Company. Upon the death of an Awardee, such beneficiary shall succeed to the rights of the Awardee. If no such designation of a beneficiary has been made, the Awardee's Award(s) shall succeed to his
or her legal representative and shall be transferable by will or pursuant to the laws of descent and distribution. 

	11.
	Plan Administration.

The
Plan is administered by the Governance Committee of the Board of Directors. The Committee shall have the authority to interpret the Plan and to provide for additional terms and conditions as may
be reflected in the Award Agreements. 

	12.
	Amendment and Termination of the Plan.

The
Board of Directors of the Company shall have the power to amend or terminate the Plan without further action of the stockholders, but no such amendment may: materially increase the number of
shares available under the Plan (other than an increase solely to reflect a reorganization, recapitalization, stock split, stock dividend, combination of shares, merger, consolidation or any other
change in corporate structure of the Company affecting the Common Stock, or a sale by the Company of all or a substantial part of its assets, or any distribution to stockholders other than a cash
dividend); withdraw administration of the Plan from the Governance Committee of the Board of Directors; change the types of awards available under the Plan; extend the term of the Plan; constitute a
"material revision" to the Plan requiring stockholder approval pursuant to the New York Stock Exchange Corporate Governance Listing Standards; or delete or limit the scope of the Plan provision
prohibiting the repricing of Options that are "underwater." 

The
duration of the 2003 Plan shall be ten years. No additional grants will be made after December 31, 2012 unless the Board of Directors decides to terminate the Plan earlier or the
stockholders of the Company approve an extension. 

	13.
	Formulas for Basic Annual Awards of Stock Options, Deferred Stock and of Restricted Stock.

Subject
to the individual limitation set forth in Section 5.03, the Governance Committee shall from time to time establish the number of Stock Options, Deferred Stock and/or shares of
Restricted Stock (or a formula for determining such), if any, to be granted to each eligible director as the Basic Annual Award under the Plan. 

	14.
	Income Tax Status.

The
Company has been advised by its tax counsel that awards made under the Plan will give rise to the following tax events for U.S. citizens and residents under current U.S. federal income tax law: 

	A.
	Non-qualified Options.    The Awardee will not be subject to tax upon the grant of the Option, and the Company
will not be entitled to a tax deduction by reason of such grant. If an Awardee exercises a Non-qualified Option, the difference between the Option Price and the Fair Market Value of the
shares on the date of exercise will be treated as taxable compensation to the Awardee. The Company will be entitled to a tax deduction in the amount of and for the taxable year in which such amount is
treated as compensation to the Awardee.

	B.
	Awards of Restricted Stock.    Unless the Awardee makes an election under Section 83(b) of the Internal Revenue Code,
Restricted Stock will not be taxable when issued, and the Company will not be entitled to a deduction at the time of issuance. Any dividends paid to the Awardee prior to the lifting of restrictions
are taxable compensation income to the Awardee. When the restrictions are lifted, the Awardee will be treated as receiving taxable compensation in the amount of the excess of the then Fair Market
Value over the amount, if any, paid by the Awardee for the shares.

	C.
	Awards of Deferred Stock.    The Award of a right to receive stock at a future date will not have any immediate tax
consequence. Any dividends paid to the Awardee prior to the issuance of shares are taxable compensation income to the Awardee. At the time shares of Common Stock are issued under any such Award, the
Awardee will be treated as having received taxable compensation. The amount of that income will be the Fair Market Value of one share of Common Stock times the number of shares received. The Company
will receive a federal income tax deduction for the same amount as is treated as taxable compensation to the Awardee. 

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	15.
	Effect of Internal Revenue Code Section 409A.

To
the extent that any Award under the Plan is or may be considered to involve a nonqualified deferred compensation plan or deferral subject to Section 409A of the Internal Revenue Code, the
Award shall be interpreted, operated and administered in a manner consistent with the requirements of such Section. 

198

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EXHIBIT 10(jj)    
    

THE DOW CHEMICAL COMPANY

CHANGE IN CONTROL EXECUTIVE SEVERANCE AGREEMENT—Tier 1  

        This Agreement, dated as of
                                     , is entered into
between The Dow Chemical Company, a corporation organized
under the laws of the State of Delaware ("Dow" or the "Company"), and
                                     (the "Employee").

        WHEREAS,
the Board of Directors of the Company (the "Board") recognizes that the possibility of an Involuntary Termination (as hereinafter defined) exists and that the occurrence of an
Involuntary Termination can result in significant uncertainties inherent in such a situation; and 

        WHEREAS,
the Company has had both informal and formal practices in this area in the past, and the Board has determined that it is in the best interest of the Company and its shareholders
to have clarity over the obligations of the Company to the Employee as a result of an Involuntary Termination in the event of a Change In Control (as hereinafter defined). 

        NOW,
THEREFORE, in consideration of the respective agreements of the parties contained herein, it is agreed as follows: 

        1.    TERM OF AGREEMENT.    This Agreement shall commence as of November 2007 and shall continue in effect until the
Employee leaves the employ of the Company for any reason or until the Employee becomes ineligible for this Change in Control Executive Severance Agreement as determined by the Compensation Committee
of Dow's Board of Directors. In the event that Employee continues as an active employee of the Company but ceases to be eligible for this severance plan as determined by the Compensation Committee,
this Agreement shall become null and void and Employee shall then be eligible for Dow's standard severance policy provided to other salaried employees. 

        2.    DEFINITIONS.    

        a.    ACCRUED COMPENSATION.    For purposes of this Agreement, "Accrued Compensation" shall mean an amount which shall
include all amounts earned or accrued through the "Termination Date" (as hereinafter defined) but not paid as of the Termination Date which shall consist of (i) base salary and
(ii) earned eligible variable pay. The amount of earned eligible variable pay shall be determined by using the year to date results and prorated for the number of completed months of the
program. 

        b.    BASE AMOUNT.    For purposes of this Agreement, "Base Amount" shall mean the Employee's annual base salary at
the rate in effect on the Termination Date, including all pre-tax salary reduction contributions or amounts of base salary that are deferred under any employee benefit or deferred
compensation plans of the Company or any other agreement or arrangement. 

        c.    BONUS AMOUNT.    For purposes of this Agreement, "Bonus Amount" shall mean the Employee's Base Amount times the
Employee's target percentage in effect on the Termination Date under Dow's Performance Award Program. 

        d.    CAUSE.    For purposes of this Agreement, "Cause" shall mean the Employee's: 

        (i)    conviction
of, or plea of nolo contendere to a felony or conviction of a misdemeanor involving moral turpitude (from
which no further appeals have been or can be taken) or any similar criminal act in a jurisdiction outside the United States as determined in good faith by the Company; 

        (ii)   material
breach of Dow's Values or Code of Business Conduct, as determined in good faith by the Company; 

199

 

        (iii)  gross
abdication of his or her duties as an employee or Executive of the Company (other than due to the Employee's partial or total incapacity due to illness), which
conduct remains uncured by the Employee for a period of at least thirty (30) days following written notice thereof to the Employee by the Company, in each case as determined in good faith by
the Company; or 

        (iv)  misappropriation
of Company assets, personal dishonesty or business conduct which causes material or potentially material financial or reputational harm for the
Company, in each case as determined in good faith by the Company. 

        (v)   breach
of any non-compete agreement or confidentiality provisions, as determined in good faith by the Company. 

        e.    COMPANY.    For purposes of this Agreement, references to Dow and the Company shall include Dow's "Successors
and Assigns" (as hereinafter defined). 

        f.    INVOLUNTARY TERMINATION.    For purposes of this Agreement, Involuntary Termination shall mean Employee's
(i) termination of employment as a result of a Change in Control within two years of the Change in Control event from Dow or one of the resulting entities in any merger, division,
consolidation, or reorganization, other than Cause, or (ii) termination for Good Reason after a Change in Control. For purposes of this Agreement, an "Involuntary Termination" shall also mean
that the Employee's employment with the Company is severed by the Company for reasons other than Cause. For purposes of clarification, an Involuntary Termination does  not include the following:

        (i)    a
voluntary termination of employment (or resignation) by the Employee for any reason; 

        (ii)   the
voluntary retirement of the Employee; 

        (iii)  a
termination of employment as a result of Disability or death of the Employee; 

        (iv)  the
Employee's termination of employment as a result of a sale of all or a part of the Company's business (or otherwise where it merges, divides, consolidates or
reorganizes) when the Employee has the opportunity to continue employment with the buyer (or one of the resulting entities in any merger, division, consolidation, or reorganization) with comparable
total compensation at a comparable position on comparable terms and conditions of employment to those applicable during the Employee's prior employment with Dow, and regardless of whether the
individual accepts or rejects such employment opportunity. 

        g.    CHANGE IN CONTROL.    For purposes of this Agreement, a Change in Control is the occurrence of one of the
following events: (i) the acquisition of 20% or more of the Company's outstanding voting securities; (ii) changes to the membership of the Board of Directors that result in less than 50%
of the current board being re-elected to the Board; (iii) approval by the shareholders of the Company of the merger or consolidation of the Company with another entity in which the
Company is not the surviving company, or where the other entity owns more than 50% of the Company outstanding voting securities; or (iv) the complete liquidation of, or the sale of all or
substantially all assets of, the Company. 

        h.    GOOD REASON.    For purposes of this agreement, Good Reason shall mean (i) a material reduction in a
Employee's job duties or (ii) a decrease in total overall compensation including variable pay and long term incentives or (iii) a requirement to relocate that extends a Employee's
current home-work commute more than 50 miles; (iv) a substantial increase in business travel; or (v) the failure of the Company to require a successor corporation to
expressly assume or agree to perform this Agreement in the same manner and to the same extent as the Company. 

        i.    DISABILITY.    For purposes of this Agreement, "Disability" shall mean a physical or mental infirmity which
impairs the Employee's ability to substantially perform the Employee's duties with the Company for a period of: (i) one hundred eighty (180) consecutive days; or (ii) one hundred
eighty (180) days during any twelve (12) month period. 

        j.    EXECUTIVE.    For purposes of this Agreement, "Executive" means an employee of the Company who has been approved
for participation in this Agreement by the Compensation Committee of Dow's Board of Directors. 

200

 

        k.    NOTICE OF TERMINATION.    For purposes of this Agreement, "Notice of Termination" shall mean a written notice of
termination of the Employee's employment from the Company, which notice indicates the Employee's last day of active employment with the Company (the "Termination Date"), the benefits to be received by
the Employee and any applicable terms and conditions (which shall include a release of all claims and liabilities arising out of Employee's employment or termination of employment and an ongoing
requirement to protect the Company's confidential information). The Notice of Termination will not become effective until it is signed by Employee and an authorized representative of the Company
within the time period specified in the Notice of Termination. In the event of the Employee's Involuntary Termination, the Company shall provide the Notice of Termination to the Employee as promptly
as possible following the Employee's last day of active employment. 

        l.    SUCCESSORS AND ASSIGNS.    For the purposes of this Agreement, "Successors and Assigns" shall mean a corporation
or other entity acquiring all or substantially all of the assets and business of the Company whether by operation of law or otherwise. 

        3.    SEVERANCE BENEFITS.    

        a.     If,
during the term of this Agreement, an Involuntary Termination occurs, provided that the Employee signs the release within the time provided for in the Notice of
Termination and satisfies any other applicable terms and conditions under the Notice of Termination and this Agreement, the Employee shall be entitled to the following compensation and benefits: 

        (i)    The
Company shall pay Employee all Accrued Compensation; 

        (ii)   The
Company shall pay Employee two point ninety- nine (2.99) times the sum of (A) the Base Amount and (B) the Bonus Amount; 

        (iii)  Employee
shall receive all vested benefits earned under any Company-sponsored retirement or benefit plan in accordance with the terms of those plans; 

        (iv)  Employee
shall receive an additional three (3) years of service credit added to Employee's actual service with Dow for purposes of eligibility, vesting, and
benefit accrual and three (3) additional years of age shall be added to the Employee's age at termination for purposes of calculating the appropriate age band for the additional three years of
service credit or any applicable early retirement factors. Such additional credit shall be subject to the regular plan limits and terms and conditions under the Company's various qualified and
non-qualified retirement plans in which the Employee participates. The benefits to be credited or accrued under a qualified retirement plan pursuant to the preceding sentence shall be
credited or accrued on the Employee's behalf under the corresponding non-qualified plan and shall be paid to the Employee in the same manner and at the same time as other benefits credited
or accrued under such non-qualified plan are payable to Employee. 

        (v)   Employee
shall be eligible for comprehensive outplacement, tax and financial planning assistance up to a maximum of $50,000 payable by the Company. 

        (vi)  Subject
to the last sentence of this Section 3(a)(vi), for eighteen (18) months following the Employee's Involuntary Termination (the "Continuation
Period"), the Company shall continue on behalf of the Employee and the Employee's eligible dependents, the medical, dental and hospitalization benefits provided to other similarly situated Employees
who continue in the employ of the Company during the Continuation Period. The coverage and benefits (including deductibles, copays and employee contribution costs) provided in this
Section 3(a)(vii) during the Continuation Period shall be no less favorable to the Employee and the Employee's dependents than coverage provided to other similarly situated active employees of
the Company. The Company's obligation under this Section 3(a)(vi) shall cease as soon as Employee becomes eligible for another employer's medical, dental and hospitalization benefits during the
Continuation Period. 

        (vii) In
the event severance benefits provided to the executive exceed statutory thresholds and become subject to the 20% "golden parachute excise tax," the Company will
provide gross-up protection for those executives subject to this tax. 

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        (viii)  Long
Term Incentives in the form of performance shares and deferred shares will vest and will be delivered as soon as administratively possible upon Involuntary
Termination. Stock Options will vest immediately upon Involuntary Termination. 

        ix)    Reimbursement
for legal fees and expenses, including reasonable attorney's fees, if any, incurred by the Executive in enforcing the terms of the Agreement. 

        b.     The
amounts provided for in subsections 3(a)(i) and 3(a)(ii) shall be paid in a single lump sum cash payment six months after the Termination Date (or the date the
Notice of Termination becomes effective, if later) or as soon as administratively practicable thereafter; provided however, in any case, such payment shall be paid in a manner
that complies with all applicable laws and regulations and maximizes the tax effectiveness of such payment to the Company and Employee. 

        4.    EMPLOYMENT TAXES.    All payments made pursuant to this Agreement will be subject to all applicable withholding
of income and employment taxes. 

        5.    SUCCESSORS; BINDING AGREEMENT.    This Agreement shall be binding upon and shall inure to the benefit of the
Company, its Successors and Assigns, and the Company shall require any Successors and Assigns to expressly assume and agree to perform this Agreement in the same manner and to the same extent that the
Company would be required to perform it if no such succession or assignment had taken place. Neither this Agreement nor any right or interest hereunder shall be assignable or transferable by the
Employee or the Employee's beneficiaries or legal representatives. This Agreement shall inure to the benefit of and be enforceable by the Employee's legal or personal representative. 

        6.    NOTICE.    For the purposes of this Agreement, notices and all other communications provided for in the
Agreement (including the Notice of Termination) shall be in writing and shall be deemed to have been duly given when personally delivered or sent by certified mail, return receipt requested, postage
prepaid, addressed to the respective addresses last given by each party to the other, provided that all notices to the Company shall be directed to the attention of the Vice President responsible for
Executive Compensation for the Company. 

        7.    NON-EXCLUSIVITY OF RIGHTS.    Nothing in this Agreement shall prevent or limit the Employee's
continuing or future participation in any benefits, bonus, incentive or other plan or program provided by the Company (except for any severance or termination policies, plans, programs or practices
applicable to other salaried employees) and for which the Employee may qualify, nor shall anything herein limit or reduce such rights as the Employee may have under any other agreements with the
Company. Amounts which are vested benefits or which the Employee is otherwise entitled to receive under any plan or program of the Company shall be payable in accordance with such plan or program,
except as explicitly modified by this Agreement. 

        8.    NO IMPLIED EMPLOYMENT RIGHTS.    Nothing in this Agreement shall alter the Employee's status as an "at will"
employee of the Company or be construed to imply that the Employee's employment is guaranteed for any period of time, except as otherwise agreed in a written agreement signed by a duly authorized
officer of the Company. 

        9.    MISCELLANEOUS.    No provision of this Agreement may be modified, waived or discharged, unless such a waiver,
modification or discharge is agreed to in writing and signed by the Employee and the Company. No waiver by either party hereto at any time of any breach by the other party hereto, or compliance with,
any condition or provision of this Agreement to be performed by such other party shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent
time. No agreement or representation, oral or otherwise, express or implied, with respect to the subject matter hereof has been made by either party which are not expressly set forth in this
Agreement. 

        10.    GOVERNING LAW.    This Agreement shall be governed by and construed and enforced in accordance with the laws of
the State of Michigan without giving effect to the conflict of law principles thereof. 

        11.    ARBITRATION.    Any dispute or controversy arising under or in connection with the subject matter, the
interpretation, the application, or alleged breach of this Agreement ("Arbitrable Claims") shall be resolved by binding arbitration in the City of Detroit, in accordance with the
then-current National Rules for the Resolution of Employment 

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Disputes
of the American Arbitration Association. Arbitration shall be final and binding upon the parties and shall be the exclusive remedy for all Arbitrable Claims. Notwithstanding the foregoing,
either party may bring an action in court to compel arbitration under this Agreement, to enforce an arbitration award, or to seek injunctive relief. THE PARTIES HEREBY WAIVE ANY RIGHT TO JURY TRIAL AS
TO ARBITRABLE CLAIMS. 

        12.    SEVERABILITY.    The provisions of this Agreement shall be deemed severable and the invalidity or
unenforceability of any provision shall not affect the validity or enforceability of the other provisions hereof. 

        13.    ENTIRE AGREEMENT.    The payments provided for in this Agreement are in lieu of severance or termination
payments or benefits to which the Employee may otherwise be entitled under any applicable law (including any statute, ordinance, rule, regulation, writ, order or pronouncement of the Employee's
domicile, home country or other relevant jurisdiction or any agency or authority of such jurisdiction) in the event of Involuntary Termination, and the Employee hereby waives any entitlement to
severance or termination payments or benefits under any such applicable law. The parties agree that the terms of this Agreement are intended to be the final expression of their agreement with respect
to the subject matter of this Agreement and may not be contradicted by evidence of any prior or contemporaneous agreement, except to the extent that the provisions of any such agreement have been
expressly referred to in this Agreement as having continued effect. Any and all previous agreements, practices and programs between the Company and the Employee dealing with severance or a termination
of employment are null and void and given no effect. 

        IN
WITNESS WHEREOF, the Company has caused this Agreement to be executed by its duly authorized officer and the Employee has executed this Agreement as of the day and year first above
written. 

	The Dow Chemical Company	 	 
	

By:	
 	

          
	
 	

 
	
Employee:	
 	

 
	

          
 Employee Name	
 	

 

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EXHIBIT 10(jj)

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