Document:

EXECUTION VERSION

 

FOREIGN GUARANTY

 

Dated as of December 4, 2013

 

From

 

THE GUARANTORS NAMED HEREIN

 

and

 

THE ADDITIONAL GUARANTORS REFERRED TO HEREIN

 

as Guarantors

 

in favor of

 

THE FOREIGN SECURED PARTIES REFERRED TO
HEREIN

 

 

    	 

    	 

    

 

TABLE OF CONTENTS

 

	Section	Page
	 	 
	Section 1.   Foreign Guaranty; Limitation of Liability	1
	 	 
	Section 2.   Foreign Guaranty Absolute	3
	 	 
	Section 3.   Waivers and Acknowledgments	4
	 	 
	Section 4.   Subrogation	5
	 	 
	Section 5.   Payments Free and Clear of Taxes, Etc.	6
	 	 
	Section 6.   Representations and Warranties	6
	 	 
	Section 7.   Covenants	7
	 	 
	Section 8.   Amendments, Foreign Guaranty Supplements, Etc.	7
	 	 
	Section 9.   Notices, Etc.	8
	 	 
	Section 10.   No Waiver; Remedies	8
	 	 
	Section 11.   Right of Set-off	8
	 	 
	Section 12.   Indemnification	8
	 	 
	Section 13.   Subordination	9
	 	 
	Section 14.   Continuing Foreign Guaranty; Assignments under the Credit Agreement	10
	 	 
	Section 15.   Rights and Remedies	11
	 	 
	Section 16.   Execution in Counterparts	11
	 	 
	Section 17.   Governing Law; Jurisdiction; Waiver of Jury Trial, Etc.	12

 

Exhibit A - Foreign Guaranty Supplement

 

    	 

    	 

    

 

FOREIGN GUARANTY

 

FOREIGN GUARANTY dated
as of December 4, 2013 (as amended, amended and restated, supplemented or otherwise modified from time to time, this “Foreign
Guaranty”) made by the Swiss Guarantor (as defined below), the US Borrowers (as defined below) and each of the other
Persons listed on the signature pages hereof under the caption “Guarantors” and the Additional Guarantors (as defined
in Section 8(b)) (the Swiss Guarantor, the US Borrowers, such Persons so listed and the Additional Guarantors being, collectively,
the “Guarantors” and, individually, each a “Guarantor”) in favor of the Foreign
Secured Parties (as defined in the Credit Agreement referred to below).

 

PRELIMINARY STATEMENT.
Chemtura Corporation, a Delaware corporation (the “Company”) the other US Borrowers referred to therein
(together with the Company, the “US Borrowers”), are parties to a Senior Secured Revolving Facilities
Credit Agreement, amended and restated on December 4, 2013 (as amended, amended and restated, supplemented or otherwise modified
from time to time, the “Credit Agreement”; the capitalized terms defined therein or the Intercreditor
Agreement (as defined in the Credit Agreement) and not otherwise defined herein being used herein as therein defined) among the
US Borrowers, Bank of America, N.A., as US Administrative Agent, CHEMTURA SALES EUROPE B.V., a company incorporated under the laws
of the Netherlands (the “Foreign Borrower”) and Chemtura Europe GmbH, a company formed under the laws
of Switzerland (the “Swiss Guarantor”), the other agents named therein, the Lender Parties party thereto
from time to time and the other parties thereto. Each Guarantor will derive substantial direct and indirect benefits from the transactions
contemplated by the Credit Agreement and the other Loan Documents, and it is a condition precedent to the making of Foreign Advances
and the issuance of Foreign Letters of Credit by the Lender Parties under the Credit Agreement and the entry by Foreign Cash Management
Banks into Secured Cash Management Agreements from time to time, that each Guarantor shall have executed and delivered this Foreign
Guaranty.

 

NOW, THEREFORE, in consideration
of the premises, and in order to induce the Foreign Lender Parties to make Foreign Advances and to issue Foreign Letters of Credit
under the Credit Agreement and the Cash Management Banks to enter into Foreign Secured Cash Management Agreements from time to
time, each Guarantor, jointly and severally with each other Guarantor, hereby agrees as follows:

 

Section 1.  Foreign
Guaranty; Limitation of Liability. (a) Each Guarantor hereby absolutely, unconditionally and irrevocably guarantees the punctual
payment when due, whether at scheduled maturity or on any date of a required prepayment or by acceleration, demand or otherwise,
of all Foreign Obligations of each other Foreign Loan Party or Subsidiary of a Foreign Loan Party now or hereafter existing under
or in respect of the Loan Documents and Foreign Secured Cash Management Agreements (including, without limitation, any extensions,
modifications, substitutions, amendments or renewals of any or all of the foregoing Foreign Obligations), whether direct or indirect,
absolute or contingent, and whether for principal, interest, premiums, fees, indemnities, contract causes of action, costs, expenses
or otherwise (such Foreign Obligations being the “Guaranteed Obligations”), and agrees to pay any and
all reasonable and documented out-of-pocket expenses (including, without limitation, reasonable fees and expenses of counsel)
incurred by the Foreign Administrative Agent or any other Foreign Secured Party in enforcing any rights under this Foreign Guaranty;
provided, that, notwithstanding the foregoing, the Swiss Guarantor shall not have any liability or other obligation in
respect of any Foreign Obligations of any Foreign Loan Party or any Subsidiary of a Foreign Loan Party (other than the Foreign
Borrower and itself). Without limiting the generality of the foregoing, each Guarantor’s liability shall extend to all amounts
that constitute part of the Guaranteed Obligations and would be owed by any other Foreign Loan Party or Subsidiary of a Foreign
Loan Party to the Foreign Administrative Agent or any other Foreign Secured Party under or in respect of the Loan Documents and
Foreign Secured Cash Management Agreements but for the fact that they are unenforceable or not allowable due to the existence
of a bankruptcy, reorganization or similar proceeding involving such other Foreign Loan Party or Subsidiary.

 

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(b)          Each
Guarantor, and by its acceptance of this Foreign Guaranty, the Foreign Administrative Agent and each other Foreign Secured Party,
hereby confirms that it is the intention of all such Persons that this Foreign Guaranty and the Foreign Obligations of each Guarantor
hereunder not constitute a fraudulent transfer or conveyance for purposes of Bankruptcy Law (as hereinafter defined), the Uniform
Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any similar foreign, federal or state law to the extent applicable
to this Foreign Guaranty and the Foreign Obligations of each Guarantor hereunder. To effectuate the foregoing intention, the Foreign
Administrative Agent, the other Foreign Secured Parties and the Guarantors hereby irrevocably agree that the Foreign Obligations
of each Guarantor under this Foreign Guaranty at any time shall be limited to the maximum amount as will result in the Foreign
Obligations of such Guarantor under this Foreign Guaranty not constituting a fraudulent transfer or conveyance. For purposes hereof,
“Bankruptcy Law” means any proceeding of the type referred to in Section 6.01(l) of the Credit Agreement
or Title 11, U.S. Code, or any similar foreign, federal or state law for the relief of debtors.

 

(c)          Each
Guarantor hereby unconditionally and irrevocably agrees that in the event any payment shall be required to be made to any Foreign
Secured Party under this Foreign Guaranty or any other guaranty, such Guarantor will contribute, to the maximum extent permitted
by law, such amounts to each other Guarantor and each other guarantor so as to maximize the aggregate amount paid to the Foreign
Secured Parties under or in respect of the Loan Documents and Foreign Secured Cash Management Agreements; provided, that,
notwithstanding the foregoing, the Swiss Guarantor shall not have any liability or other obligation in respect of any Foreign Obligations
of any Foreign Loan Party or any Subsidiary of a Foreign Loan Party (other than the Foreign Borrower and itself). If any Guarantor
makes a payment under this Foreign Guaranty of any Foreign Obligations under the Loan Documents or Foreign Secured Cash Management
Agreements (any such payment by a Guarantor, a “Guarantor Payment”) that, taking into account all other
Guarantor Payments previously or concurrently made by any other Guarantor, exceeds the amount that such Guarantor would otherwise
have paid if each Guarantor had paid the aggregate Foreign Obligations under the Loan Documents or Foreign Secured Cash Management
Agreements satisfied by such Guarantor Payments in the same proportion that such Guarantor's Allocable Amount bore to the total
Allocable Amounts of all Guarantors, then (subject to compliance with the first sentence of this section 1(c)) such Guarantor shall
be entitled to receive contribution and indemnification payments from, and to be reimbursed by, each other Guarantor for the amount
of such excess, pro rata based upon their respective Allocable Amounts in effect immediately prior to such Guarantor Payment. The
“Allocable Amount” for any Guarantor shall be the maximum amount that could then be recovered from such
Guarantor under this Foreign Guaranty without rendering such payment voidable under Section 548 of the Bankruptcy Code or under
any applicable state fraudulent transfer or conveyance act, or similar statute or common law.

 

    	 	2	Chemtura (Revolving  Facility) Foreign Guaranty

    	 

    

 

Section 2.  Foreign
Guaranty Absolute. Each Guarantor guarantees that the Guaranteed Obligations will be paid strictly in accordance with the
terms of the Loan Documents and Foreign Secured Cash Management Agreements, regardless of any law, regulation or order now or
hereafter in effect in any jurisdiction affecting any of such terms or the rights of the Foreign Administrative Agent or any other
Foreign Secured Party with respect thereto. The Foreign Obligations of each Guarantor under or in respect of this Foreign Guaranty
are independent of the Guaranteed Obligations or any other Obligations of any other Foreign Loan Party under or in respect of
the Loan Documents and Foreign Secured Cash Management Agreements, and a separate action or actions may be brought and prosecuted
against each Guarantor to enforce this Foreign Guaranty, irrespective of whether any action is brought against any US Borrower
or any other Foreign Loan Party or whether any US Borrower or any other Foreign Loan Party is joined in any such action or actions.
The liability of each Guarantor under this Foreign Guaranty shall be irrevocable, absolute and unconditional irrespective of,
and each Guarantor hereby irrevocably waives (to the extent permitted by law) any defenses it may now have or hereafter acquire
in any way relating to, any or all of the following:

 

(a)          any
lack of validity or enforceability of any Loan Document or Foreign Secured Cash Management Agreement or any agreement or instrument
relating thereto;

 

(b)          any
change in the time, manner or place of payment of, or in any other term of, all or any of the Guaranteed Obligations or any other
Foreign Obligations of any other Foreign Loan Party under or in respect of the Loan Documents and Foreign Secured Cash Management
Agreements, or any other amendment or waiver of or any consent to departure from any Loan Document or Foreign Secured Cash Management
Agreement, including, without limitation, any increase in the Guaranteed Obligations resulting from the extension of additional
credit to any Foreign Loan Party or any of its Subsidiaries or otherwise;

 

(c)          any
taking, exchange, release or non-perfection of any Collateral or any other collateral, or any taking, release or amendment or waiver
of or consent to departure from any other guaranty, for all or any of the Guaranteed Obligations;

 

(d)          any
manner of application of Collateral or any other collateral, or proceeds thereof, to all or any of the Guaranteed Obligations,
or any manner of sale or other disposition of any Collateral or any other collateral for all or any of the Guaranteed Obligations
or any other Foreign Obligations of any Foreign Loan Party under the Loan Documents and Foreign Secured Cash Management Agreements,
or any other assets of any Foreign Loan Party or any of its Subsidiaries;

 

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(e)          any
change, restructuring or termination of the corporate structure or existence of any Foreign Loan Party or any of its Subsidiaries;

 

(f)          any
failure of the Foreign Administrative Agent or any other Foreign Secured Party to disclose to any Foreign Loan Party any information
relating to the business condition (financial or otherwise), operations, properties or prospects of any other Foreign Loan Party
now or hereafter known to the Foreign Administrative Agent or such other Foreign Secured Party, as the case may be (each Guarantor
waiving any duty on the part of the Foreign Secured Parties to disclose such information);

 

(g)          the
failure of any other Person to execute or deliver this Foreign Guaranty, any Foreign Guaranty Supplement (as hereinafter defined)
or any other guaranty or agreement or the release or reduction of liability of any Guarantor or other guarantor or surety with
respect to the Guaranteed Obligations; or

 

(h)          any
other circumstance (including, without limitation, any statute of limitations or any existence of or reliance on any representation
by the Foreign Administrative Agent or any other Foreign Secured Party) that might otherwise constitute a defense available to,
or a discharge of, any Foreign Loan Party or any other guarantor or surety, in each case other than the payment in full in cash
of the Guaranteed Obligations.

 

This Foreign Guaranty shall continue to
be effective or be reinstated, as the case may be, if at any time any payment of any of the Guaranteed Obligations is rescinded
or must otherwise be returned by the Foreign Administrative Agent or any other Foreign Secured Party or any other Person upon the
insolvency, bankruptcy or reorganization of any US Borrower or any other Foreign Loan Party or otherwise, all as though such payment
had not been made.

 

Section 3.  Waivers
and Acknowledgments. (a) Each Guarantor hereby unconditionally and irrevocably waives (to the extent permitted by law) promptness,
diligence, notice of acceptance, presentment, demand for performance, notice of nonperformance, default, acceleration, protest
or dishonor and any other notice with respect to any of the Guaranteed Obligations and this Foreign Guaranty and any requirement
that the Foreign Administrative Agent or any other Foreign Secured Party protect, secure, perfect or insure any Lien or any property
subject thereto or exhaust any right or take any action against any Foreign Loan Party or any other Person or any Collateral.

 

(b)          Each
Guarantor hereby unconditionally and irrevocably waives (to the extent permitted by law) any right to revoke this Foreign Guaranty
and acknowledges that this Foreign Guaranty is continuing in nature and applies to all Guaranteed Obligations, whether existing
now or in the future.

 

(c)          Each
Guarantor hereby unconditionally and irrevocably waives (to the extent permitted by law) (i) any defense arising by reason of any
claim or defense based upon an election of remedies by any Foreign Secured Party that in any manner impairs, reduces, releases
or otherwise adversely affects the subrogation, reimbursement, exoneration, contribution or indemnification rights of such Guarantor
or other rights of such Guarantor to proceed against any of the other Foreign Loan Parties, any other guarantor or any other Person
or any Collateral and (ii) any defense based on any right of set-off or counterclaim against or in respect of the Obligations of
such Guarantor hereunder.

 

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(d)          Each
Guarantor acknowledges that the Foreign Administrative Agent may, without notice to or demand upon such Guarantor and without affecting
the liability of such Guarantor under this Foreign Guaranty, foreclose under any mortgage by nonjudicial sale, and each Guarantor
hereby waives any defense to the recovery by the Foreign Administrative Agent and the other Foreign Secured Parties against such
Guarantor of any deficiency after such nonjudicial sale and any defense or benefits that may be afforded by applicable law.

 

(e)          Each
Guarantor hereby unconditionally and irrevocably waives (to the extent permitted by law) any duty on the part of any Foreign Secured
Party to disclose to such Guarantor any matter, fact or thing relating to the business, condition (financial or otherwise), operations,
performance, properties or prospects of any other Foreign Loan Party or any of its Subsidiaries now or hereafter known by such
Foreign Secured Party.

 

(f)          Each
Guarantor acknowledges that it will receive substantial direct and indirect benefits from the financing arrangements contemplated
by the Loan Documents and Foreign Secured Cash Management Agreements, and that the waivers set forth in Section 2 and this Section
3 are knowingly made in contemplation of such benefits.

 

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Section 4.  Subrogation.
Each Guarantor hereby unconditionally and irrevocably agrees not to exercise any rights that it may now have or hereafter acquire
against any US Borrower, any other Foreign Loan Party or any other insider guarantor that arise from the existence, payment, performance
or enforcement of such Guarantor’s Foreign Obligations under or in respect of this Foreign Guaranty, or any other Loan Document
or Foreign Secured Cash Management Agreement, including, without limitation, any right of subrogation, reimbursement, exoneration,
contribution or indemnification and any right to participate in any claim or remedy of the Foreign Administrative Agent or any
other Foreign Secured Party against any US Borrower, any other Foreign Loan Party or any other insider guarantor or any Collateral,
whether or not such claim, remedy or right arises in equity or under contract, statute or common law, including, without limitation,
the right to take or receive from any US Borrower, any other Foreign Loan Party or any other insider guarantor, directly or indirectly,
in cash or other property or by set-off or in any other manner, payment or security on account of such claim, remedy or right,
unless and until all of the Guaranteed Obligations and all other amounts payable under this Foreign Guaranty shall have been paid
in full in cash, all Foreign Letters of Credit and all Foreign Secured Cash Management Agreements shall have expired or been terminated
(or all Foreign L/C Obligations shall have been Cash Collateralized and all obligations under Foreign Secured Cash Management
Agreements shall have been cash collateralized in a manner reasonably satisfactory to each applicable Foreign Cash Management
Bank) and all Foreign Revolving Credit Commitments shall have expired or been terminated (including the expiration or termination
of the Foreign Borrowers’ rights under Section 2.19 of the Credit Agreement). If any amount shall be paid to any Guarantor
in violation of the immediately preceding sentence at any time prior to the latest of (a) the payment in full in cash of the Guaranteed
Obligations and all other amounts payable under this Foreign Guaranty, (b) the latest date of expiration or termination of all
Foreign Letters of Credit and all Foreign Secured Cash Management Agreements (or the date on which all Foreign L/C Obligations
shall have been Cash Collateralized and all obligations under Foreign Secured Cash Management Agreements shall have been cash
collateralized in a manner reasonably satisfactory to each applicable Foreign Cash Management Bank), and (c) the expiration or
termination of all Foreign Revolving Credit Commitments (including the expiration or termination of the Foreign Borrowers’
rights under Section 2.19 of the Credit Agreement), such amount shall be received and held in trust for the benefit of the Foreign
Administrative Agent and the other Foreign Secured Parties, shall be segregated from other property and funds of such Guarantor
and shall forthwith be paid or delivered to the Foreign Administrative Agent in the same form as so received (with any necessary
endorsement or assignment) to be credited and applied to the Guaranteed Obligations and all other amounts payable under this Foreign
Guaranty, whether matured or unmatured, in accordance with the terms of the Loan Documents and Foreign Secured Cash Management
Agreements, or to be held as Collateral for any Guaranteed Obligations or other amounts payable under this Foreign Guaranty thereafter
arising. If (i) any Guarantor shall make payment to any Foreign Secured Party of all or any part of the Guaranteed Obligations,
(ii) all of the Guaranteed Obligations and all other amounts payable under this Foreign Guaranty (other than contingent indemnification
obligations under which a claim has not yet been asserted) shall have been paid in full in cash, (iii) all Foreign Letters of
Credit and all Foreign Secured Cash Management Agreements shall have expired or been terminated (or all Foreign L/C Obligations
shall have been Cash Collateralized and all obligations under Foreign Secured Cash Management Agreements shall have been cash
collateralized in a manner reasonably satisfactory to each applicable Foreign Cash Management Bank), and (iv) all Foreign Revolving
Credit Commitments shall have expired or been terminated (including the expiration or termination of the Foreign Borrowers’
rights under Section 2.19 of the Credit Agreement), the Foreign Administrative Agent and the other Foreign Secured Parties will,
at such Guarantor’s request and expense, execute and deliver to such Guarantor appropriate documents, without recourse and
without representation or warranty, necessary to evidence the transfer by subrogation to such Guarantor of an interest in the
Guaranteed Obligations resulting from such payment made by such Guarantor pursuant to this Foreign Guaranty.

 

Section 5.  Payments
Free and Clear of Taxes, Etc. Any and all payments made by any Guarantor under or in respect of this Foreign Guaranty, any
other Loan Document or any Foreign Secured Cash Management Agreement shall be made free and clear of and without deduction or
withholding for any Indemnified Taxes or Other Taxes on the same terms and to the same extent that payments by the Borrowers are
required to be made free and clear of Indemnified Taxes and Other Taxes pursuant to the terms of Section 2.13 of the Credit Agreement.

 

Section 6.  Representations
and Warranties. Each Guarantor hereby makes each representation and warranty made in the Loan Documents and Foreign Secured
Cash Management Agreements by any Borrower with respect to such Guarantor and each Guarantor hereby further represents and warrants
as follows:

 

(a)          There
are no conditions precedent to the effectiveness of this Foreign Guaranty that have not been satisfied or waived.

 

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(b)          Such
Guarantor has, independently and without reliance upon any Foreign Secured Party and based on such documents and information as
it has deemed appropriate, made its own credit analysis and decision to enter into this Foreign Guaranty and each other Loan Document
and Foreign Secured Cash Management Agreement to which it is or is to be a party, and such Guarantor has established adequate means
of obtaining from each other Foreign Loan Party on a continuing basis information pertaining to, and is now and on a continuing
basis will be completely familiar with, the business, condition (financial or otherwise), operations, performance, properties and
prospects of such other Foreign Loan Party.

 

Section 7.  Covenants.
Each Guarantor covenants and agrees that, so long as any part of the Guaranteed Obligations shall remain unpaid, any Foreign Letter
of Credit shall be outstanding, any Foreign Lender Party shall have any Commitment or any Foreign Secured Cash Management Agreement
shall be in effect, such Guarantor will perform and observe, and cause each of its Restricted Subsidiaries to perform and observe,
all of the terms, covenants and agreements applicable to such Restricted Subsidiaries set forth in the Loan Documents and Foreign
Secured Cash Management Agreements, as the case may be, on its or their part to be performed or observed or that any Borrower
has agreed to cause such Guarantor or such Restricted Subsidiaries to perform or observe.

 

Section 8.  Amendments,
Foreign Guaranty Supplements, Etc. (a) No amendment or waiver of any provision of this Foreign Guaranty and no consent to any
departure by any Guarantor therefrom shall in any event be effective unless the same shall be in writing and signed by the Foreign
Administrative Agent and the Required Lenders (or by the Foreign Administrative Agent with the consent of the Required Lenders)
and, in the case of an amendment, the Guarantors, 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, unless
in writing and signed by the Foreign Administrative Agent and all of the Lenders (other than any Lender that is, at such time,
a Defaulting Lender), subject to the next succeeding sentence, release any Guarantor hereunder or otherwise limit any Guarantor’s
liability with respect to the Obligations owing to the Foreign Secured Parties under or in respect of the Loan Documents, if such
release or limitation is in respect of all or substantially all of the aggregate value of Guarantees to the Lender Parties, or
make any other change that is of the type that requires the consent of all Lenders under Section 10.01 of the Credit Agreement.
Upon the sale of a Guarantor to the extent permitted in accordance with the terms of the Loan Documents and Foreign Secured Cash
Management Agreements, such Guarantor shall be automatically released from this Foreign Guaranty.

 

(b)          Upon
the execution and delivery by any Person of a guaranty supplement in substantially the form of Exhibit A hereto (each, a “Foreign
Guaranty Supplement”), (i) such Person shall be referred to as an “Additional Guarantor” and shall become
and be a Guarantor hereunder, and each reference in this Foreign Guaranty to a “Guarantor” shall also mean and be a
reference to such Additional Guarantor, and each reference in any other Loan Document or Foreign Secured Cash Management Agreement
to a “Guarantor” shall also mean and be a reference to such Additional Guarantor, and (ii) each reference herein to
“this Foreign Guaranty”, “hereunder”, “hereof” or words of like import referring to this Foreign
Guaranty, and each reference in any other Loan Document or Foreign Secured Cash Management Agreement to the “Foreign Guaranty”,
“thereunder”, “thereof” or words of like import referring to this Foreign Guaranty, shall mean and be a
reference to this Foreign Guaranty as supplemented by such Foreign Guaranty Supplement.

 

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Section 9.  Notices,
Etc. All notices and other communications provided for hereunder shall be given in accordance with the provisions set out in
Section 10.02 of the Credit Agreement, mutatis mutandis.

 

Section 10.  No
Waiver; Remedies. No failure on the part of any Foreign Secured Party to exercise, and no delay in exercising, any right hereunder
shall operate as a waiver thereof; nor shall any single or partial exercise of any right hereunder 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 11.  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 of the Credit Agreement to authorize the Foreign Administrative Agent to
declare the Foreign Advances due and payable pursuant to the provisions of said Section 6.01, each Agent and each Foreign Lender
Party and each of their respective Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted
by 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 Agent, such Foreign Lender Party or such Affiliate to or for the credit or the account
of any Guarantor against any and all of the Foreign Obligations of such Guarantor now or hereafter existing under the Loan Documents
and Foreign Secured Cash Management Agreements, irrespective of whether such Agent or such Foreign Lender shall have made any demand
under this Foreign Guaranty or any other Loan Document or Foreign Secured Cash Management Agreement, and although such Foreign
Obligations may be unmatured. Each Agent and each Foreign Lender Party agrees promptly to notify such Guarantor after any such
set-off and application; provided, however, that the failure to give such notice shall not affect the validity of
such set-off and application. The rights of each Agent and each Foreign Lender Party and their respective Affiliates under this
Section are in addition to other rights and remedies (including, without limitation, other rights of set-off) that such Agent,
such Foreign Lender Party and their respective Affiliates may have.

 

Section 12.  Indemnification.
(a) Without limitation on any other Foreign Obligations of any Guarantor or remedies of the Foreign Secured Parties under this
Foreign Guaranty, each Guarantor shall, to the fullest extent permitted by law, indemnify and hold harmless each Foreign Secured
Party and each of their Affiliates and their respective officers, directors, employees, agents and advisors (each, an “Indemnified
Party”) from and against, and shall pay within ten (10) Business Days of written demand, any and all claims, damages,
losses, liabilities and expenses (including, without limitation, reasonable fees and expenses of counsel) that may be incurred
by or asserted or awarded against any Indemnified Party in connection with or as a result of any failure of any Guaranteed Obligations
to be the legal, valid and binding obligations of any Foreign Loan Party enforceable against such Foreign Loan Party in accordance
with their terms. This Section 12(a) shall not apply with respect to Taxes, other than Taxes that represent losses, claims, damages,
etc. arising from any non-Tax claim.

 

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(b)          Each
Guarantor hereby also agrees that none of the Indemnified Parties shall have any liability (whether direct or indirect, in contract,
tort or otherwise) to any of the Guarantors or any of their respective Affiliates or any of their respective security holders,
creditors, officers, directors, employees, agents and advisors arising out of, related to or in connection with any aspect of the
transactions contemplated hereby, except to the extent such liability is determined in a final, non-appealable judgment by a court
of competent jurisdiction to have resulted primarily from such Indemnified Party’s gross negligence or willful misconduct.
In no event, however, shall any Indemnified Party be liable on any theory of liability for any special, indirect, consequential
or punitive damages (including without limitation, any loss of profits, business or anticipated savings). Notwithstanding any other
provision of this Foreign Guaranty, no Indemnified Party shall be liable for any damages arising from the use by others of information
or other materials obtained through electronic telecommunications or other information transmission systems, except to the extent
such damages are determined in a final, non-appealable judgment by a court of competent jurisdiction to have resulted primarily
from such Indemnified Party’s gross negligence or willful misconduct.

 

(c)          Without
prejudice to the survival of any of the other agreements of any Guarantor under this Foreign Guaranty or any of the other Loan
Documents or Foreign Secured Cash Management Agreements, the agreements and obligations of each Guarantor contained in Section 1(a)
(with respect to enforcement expenses), the last sentence of Section 2, Section 5 and this Section 12 shall survive
the payment in full of the Guaranteed Obligations and all of the other amounts payable under this Foreign Guaranty.

 

Section 13.  Subordination.
Each Guarantor hereby subordinates any and all Debt owed to such Guarantor by each other Foreign Loan Party (the “Subordinated
Obligations”) to the Guaranteed Obligations to the extent and in the manner hereinafter set forth in this Section
13:

 

(a)          Prohibited
Payments, Etc. After the occurrence and during the continuance of any Event of Default (including the commencement and continuation
of any proceeding under any Bankruptcy Law relating to any other Foreign Loan Party), provided that either (1) a notice of acceleration
of the maturity of the Advances has been delivered to the Borrowers in accordance with Section 6.01(ii) of the Credit Agreement,
or (2) a demand for payment has been made under this Foreign Guaranty and, in the case of this clause (2), amounts that are due
remain unpaid, no Guarantor shall (unless the Foreign Administrative Agent otherwise agrees) demand, accept or take any action
to collect any payment on account of the Subordinated Obligations.

 

(b)          Prior
Payment of Guaranteed Obligations. In any proceeding under any Bankruptcy Law relating to any other Foreign Loan Party, each
Guarantor agrees that the Foreign Secured Parties shall be entitled to receive payment in full in cash of all Guaranteed Obligations
(including all interest and expenses accruing after the commencement of a proceeding under any Bankruptcy Law, whether or not constituting
an allowed claim in such proceeding (“Post Petition Interest”)) before such Guarantor receives payment
of any Subordinated Obligations.

 

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(c)          Turn-Over.
After the occurrence and during the continuance of any Event of Default (including the commencement and continuation of any proceeding
under any Bankruptcy Law relating to any other Foreign Loan Party), provided that either (1) a notice of acceleration of the maturity
of the Advances has been delivered to the Borrowers in accordance with Section 6.01(ii) of the Credit Agreement, or (2) a demand
for payment has been made under this Foreign Guaranty and, in the case of this clause (2), amounts that are due remain unpaid,
each Guarantor shall, if the Foreign Administrative Agent so requests, collect, enforce and receive payments on account of the
Subordinated Obligations as trustee for the Foreign Secured Parties and deliver such payments to the Foreign Administrative Agent
on account of the Guaranteed Obligations (including all Post Petition Interest), together with any necessary endorsements or other
instruments of transfer, but without reducing or affecting in any manner the liability of such Guarantor under the other provisions
of this Foreign Guaranty.

 

(d)          Foreign
Administrative Agent Authorization. After the occurrence and during the continuance of any Event of Default (including the
commencement and continuation of any proceeding under any Bankruptcy Law relating to any other Foreign Loan Party), provided that
either (1) a notice of acceleration of the maturity of the Advances has been delivered to the Borrowers in accordance with Section
6.01(ii) of the Credit Agreement, or (2) a demand for payment has been made under this Foreign Guaranty and, in the case of this
clause (2), amounts that are due remain unpaid, the Foreign Administrative Agent is authorized and empowered (but without any obligation
to so do), in its discretion, (i) in the name of each Guarantor, to collect and enforce, and to submit claims in respect of, Subordinated
Obligations and to apply any amounts received thereon to the Guaranteed Obligations (including any and all Post Petition Interest),
and (ii) to pay any amounts received on such obligations to the Foreign Administrative Agent for application to the Guaranteed
Obligations (including any and all Post Petition Interest).

 

Section 14.  Continuing
Foreign Guaranty; Assignments under the Credit Agreement. This Foreign Guaranty is a continuing guaranty and shall (a) remain
in full force and effect until the latest of (i) the payment in full in cash of the Guaranteed Obligations and all other amounts
payable under this Foreign Guaranty, (ii) the latest date of expiration or termination of all Foreign Letters of Credit and all
Foreign Secured Cash Management Agreements (or the date on which all Foreign L/C Obligations shall have been Cash Collateralized
and all obligations under Foreign Secured Cash Management Agreements shall have been cash collateralized in a manner reasonably
satisfactory to each applicable Foreign Cash Management Bank), and (iii) the expiration or termination of all Foreign Revolving
Credit Commitments (including the expiration or termination of the Foreign Borrowers’ rights under Section 2.19 of the Credit
Agreement), (b) be binding upon each Guarantor and its successors and assigns and (c) inure to the benefit of and be enforceable
by the Foreign Administrative Agent and the other Foreign Secured Parties and their respective successors, transferees and assigns.
Without limiting the generality of clause (c) of the immediately preceding sentence, any Foreign Secured Party may assign or otherwise
transfer all or any portion of its rights and obligations under the Credit Agreement (including, without limitation, all or any
portion of its Foreign Revolving Credit Commitments, the Foreign Revolving Credit Advances owing to it and the Notes held by it
in respect of the Foreign Revolving Facility) to any other Person, and such other Person shall thereupon become vested with all
the benefits in respect thereof granted to such Foreign Secured Party herein or otherwise, in each case as and to the extent provided
in Section 10.07 of the Credit Agreement. No Guarantor shall have the right to assign its rights hereunder or any interest herein
without the prior written consent of the Foreign Secured Parties.

  

    	 	10	Chemtura (Revolving  Facility) Foreign Guaranty

    	 

    

 

Section 15.  Rights
and Remedies. At any time an Event of Default shall have occurred and be continuing, the Foreign Administrative Agent and the
Foreign Lender Parties may, in their discretion, pursue such rights and remedies as they deem appropriate, including realization
upon Collateral by judicial foreclosure or non judicial sale or enforcement, without affecting any rights and remedies under any
Loan Document. If, in taking any action in connection with the exercise of any rights or remedies, the Foreign Administrative Agent
or any Foreign Lender Party shall forfeit any other rights or remedies, including the right to enter a deficiency judgment against
any Guarantor or any other Person, whether because of any applicable laws pertaining to “election of remedies” or otherwise,
each Guarantor consents to such action and waives any claim based upon it, even if the action may result in loss of any rights
of subrogation that such Guarantor might otherwise have had. Any election of remedies that results in denial or impairment of the
right of the Foreign Administrative Agent or any Foreign Lender Party to seek a deficiency judgment against any Foreign Loan Party
shall not impair each Guarantor’s obligation to pay the full amount of the Foreign Obligations under the Loan Documents;
provided, that, notwithstanding the foregoing, the Swiss Guarantor shall not have any liability or other obligation in respect
of any Foreign Obligations of any Foreign Loan Party or any Subsidiary of a Foreign Loan Party (other than the Foreign Borrower
and itself). Each Guarantor waives all rights and defenses arising out of an election of remedies, such as nonjudicial foreclosure
with respect to any security for the Foreign Obligations under the Loan Documents, even though that election of remedies destroys
such Guarantor’s rights of subrogation against any other Person. The Foreign Administrative Agent may bid all or a portion
of the Foreign Obligations under the Loan Documents at any foreclosure or trustee’s sale or at any private sale, and the
amount of such bid need not be paid by the Foreign Administrative Agent but shall be credited against the Foreign Obligations under
the Loan Documents. The amount of the successful bid at any such sale, whether the Foreign Administrative Agent or any other Person
is the successful bidder, shall be conclusively deemed to be the fair market value of the Collateral acquired pursuant to such
sale, and, after application of the proceeds of such sale to payment of the Foreign Obligations under the Loan Documents, the difference
between such bid amount and the remaining balance of the Foreign Obligations under the Loan Documents shall be conclusively deemed
to be the amount of the Foreign Obligations under the Loan Documents guaranteed under this Foreign Guaranty, notwithstanding that
any present or future law or court decision may have the effect of reducing the amount of any deficiency claim to which the Foreign
Administrative Agent or any Foreign Lender Party might otherwise be entitled but for such bidding at any such sale.

 

    	 	11	Chemtura (Revolving  Facility) Foreign Guaranty

    	 

    

 

Section 16.  Execution
in Counterparts. This Foreign Guaranty and each amendment, waiver and consent with respect hereto may be executed in any number
of counterparts and by different parties thereto 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. Delivery of an executed counterpart of
a signature page to this Foreign Guaranty by telecopier or by electronic transmission (e.g. “.pdf” or “.tif”)
shall be effective as delivery of an original executed counterpart of this Foreign Guaranty.

 

Section 17.  Governing
Law; Jurisdiction; Waiver of Jury Trial, Etc.   (a)  This Foreign Guaranty shall be governed by, and construed in accordance
with, the laws of the State of New York.

 

(b)          Each
Guarantor 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 Foreign Guaranty or any of the other Loan Documents or Foreign Secured
Cash Management Agreements to which it is or is to be a party, or for recognition or enforcement of any judgment, and each Guarantor
hereby irrevocably and unconditionally 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. Each Guarantor 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.

 

(c)          Each
Guarantor 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 Foreign
Guaranty or any of the other Loan Documents or Foreign Secured Cash Management Agreements to which it is or is to be a party in
any New York State or federal court. Each Guarantor hereby irrevocably waives, to the fullest extent permitted by law, the
defense of an inconvenient forum to the maintenance of such suit, action or proceeding in any such court.

 

(d)          EACH
GUARANTOR 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 ANY OF THE LOAN DOCUMENTS OR FOREIGN SECURED CASH MANAGEMENT AGREEMENTS, THE ADVANCES
OR THE ACTIONS OF ANY SECURED PARTY IN THE NEGOTIATION, ADMINISTRATION, PERFORMANCE OR ENFORCEMENT THEREOF.

 

    	 	12	Chemtura (Revolving  Facility) Foreign Guaranty

    	 

    

 

IN WITNESS WHEREOF, each
Foreign Guarantor has caused this Guaranty to be duly executed and delivered by its officer thereunto duly authorized as of the
date first above written.

 

	 	CHEMTURA CORPORATION
	 	 	 
	 	By	 
	 	 	Name:  Stephen C. Forsyth
	 	 	Title:  Executive Vice President and
	 	 	Chief Financial Officer

 

	 	BIO-LAB, INC.
	 	 
	 	By	 
	 	 	Name:  Arthur Fullerton
	 	 	Title:  Vice President
	 	 
	 	CROMPTON COLORS INCORPORATED
	 	 
	 	By	 
	 	 	Name:  Arthur Fullerton
	 	 	Title:  Vice President
	 	 
	 	GLCC LAUREL, LLC
	 	 
	 	By	 
	 	 	Name:  Arthur Fullerton
	 	 	Title:  Vice President
	 	 
	 	GREAT LAKES CHEMICAL CORPORATION
	 	 
	 	By	 
	 	 	Name:  Arthur Fullerton
	 	 	Title:  Vice President

 

    	 	[Signature Page]	Chemtura (Revolving  Facility) Foreign Guaranty

    	 

    

 

	 	HOMECARE LABS, INC.
	 	 
	 	By	 
	 	 	Name:  Arthur Fullerton
	 	 	Title:  Vice President
	 	 
	 	RECREATIONAL WATER PRODUCTS, INC.
	 	 
	 	By	 
	 	 	Name:  Arthur Fullerton
	 	 	Title:  Vice President

 

    	 	[Signature Page]	Chemtura (Revolving  Facility) Foreign Guaranty

    	 

    

 

	 	CHEMTURA EUROPE GMBH.
	 	 
	 	By	 
	 	 	Name:
	 	 	Title:

 

    	 	[Signature Page]	Chemtura (Revolving  Facility) Foreign Guaranty

    	 

    

  

Exhibit A

To The

Foreign Guaranty

 

FORM OF FOREIGN GUARANTY SUPPLEMENT

 

_________ __, ____

 

Bank of America, N.A., as Foreign Administrative Agent

[Address of Foreign Administrative Agent]

 

Attention: _________

 

Senior Secured Revolving Facilities Credit
Agreement amended and restated on December 4, 2013 (as amended, amended and restated, supplemented or otherwise modified from time
to time, the “Credit Agreement”) among Chemtura Corporation, a Delaware corporation (the “Company”)
and the other US Borrowers referred to therein (together with the Company, the “US Borrowers”),
CHEMTURA SALES EUROPE B.V., a company incorporated under the laws of the Netherlands (the “Foreign Borrower”)
and Chemtura Europe GmbH, a company formed under the laws of Switzerland (the “Swiss Guarantor”),

Bank of America, N.A., as Foreign Administrative
Agent, the other agents named therein,

the Lender Parties party thereto from time
to time and the other parties thereto

 

Ladies and Gentlemen:

 

Reference is made to
the above-captioned Credit Agreement and to the Foreign Guaranty referred to therein (such Foreign Guaranty, as in effect on the
date hereof and as it may hereafter be amended, supplemented or otherwise modified from time to time, together with this Foreign
Guaranty Supplement, being the “Foreign Guaranty”). The capitalized terms defined in the Foreign Guaranty
or in the Credit Agreement and not otherwise defined herein are used herein as therein defined.

 

Section 1. Foreign
Guaranty; Limitation of Liability. (a) The undersigned hereby absolutely, unconditionally and irrevocably guarantees the punctual
payment when due, whether at scheduled maturity or on any date of a required prepayment or by acceleration, demand or otherwise,
of all Foreign Obligations of each other Foreign Loan Party or Subsidiary of a Foreign Loan Party now or hereafter existing under
or in respect of the Loan Documents and Foreign Secured Cash Management Agreements (including, without limitation, any extensions,
modifications, substitutions, amendments or renewals of any or all of the foregoing Foreign Obligations), whether direct or indirect,
absolute or contingent, and whether for principal, interest, premium, fees, indemnities, contract causes of action, costs, expenses
or otherwise (such Foreign Obligations being the “Guaranteed Obligations”), and agrees to pay any and
all reasonable and documented out-of-pocket expenses (including, without limitation, reasonable fees and expenses of counsel) incurred
by the Foreign Administrative Agent or any other Foreign Secured Party in enforcing any rights under the Foreign Guaranty or this
Foreign Guaranty Supplement; provided, that, notwithstanding the foregoing, the Swiss Guarantor shall not have any liability
or other obligation in respect of any Foreign Obligations of any Foreign Loan Party or any Subsidiary of a Foreign Loan Party (other
than the Foreign Borrower and itself). Without limiting the generality of the foregoing, the undersigned’s liability shall
extend to all amounts that constitute part of the Guaranteed Obligations and would be owed by any other Foreign Loan Party or Subsidiary
of a Foreign Loan Party to the Foreign Administrative Agent or any other Foreign Secured Party under or in respect of the Loan
Documents and Foreign Secured Cash Management Agreements but for the fact that they are unenforceable or not allowable due to the
existence of a bankruptcy, reorganization or similar proceeding involving such other Foreign Loan Party or Subsidiary.

 

    	 	A-1	Chemtura (Revolving  Facility) Foreign Guaranty

    	 

    

 

(b)          The
undersigned, and by its acceptance of this Foreign Guaranty Supplement, the Foreign Administrative Agent and each other Foreign
Secured Party, hereby confirms that it is the intention of all such Persons that this Foreign Guaranty Supplement, the Foreign
Guaranty and the Foreign Obligations of the undersigned hereunder and thereunder not constitute a fraudulent transfer or conveyance
for purposes of Bankruptcy Law, the Uniform Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any similar foreign,
federal or state law to the extent applicable to this Foreign Guaranty Supplement, the Foreign Guaranty and the Obligations of
the undersigned hereunder and thereunder. To effectuate the foregoing intention, the Foreign Administrative Agent, the other Foreign
Secured Parties and the undersigned hereby irrevocably agree that the Foreign Obligations of the undersigned under this Foreign
Guaranty Supplement and the Foreign Guaranty at any time shall be limited to the maximum amount as will result in the Foreign Obligations
of the undersigned under this Foreign Guaranty Supplement and the Foreign Guaranty not constituting a fraudulent transfer or conveyance.

 

(c)          The
undersigned hereby unconditionally and irrevocably agrees that in the event any payment shall be required to be made to any Foreign
Secured Party under this Foreign Guaranty Supplement, the Foreign Guaranty or any other guaranty, the undersigned will contribute,
to the maximum extent permitted by applicable law, such amounts to each other Guarantor and each other guarantor so as to maximize
the aggregate amount paid to the Foreign Secured Parties under or in respect of the Loan Documents and Foreign Secured Cash Management
Agreements.

 

Section 2. Obligations
Under the Foreign Guaranty. The undersigned hereby agrees, as of the date first above written, to be bound as a Guarantor by
all of the terms and conditions of the Foreign Guaranty to the same extent as each of the other Guarantors thereunder. The undersigned
further agrees, as of the date first above written, that each reference in the Foreign Guaranty to an “Additional Guarantor”
or a “Guarantor” shall also mean and be a reference to the undersigned, and each reference in any other Loan Document
or Foreign Secured Cash Management Agreement to a “Guarantor” or a “Foreign Loan Party” shall also mean
and be a reference to the undersigned.

 

Section 3. Representations
and Warranties. The undersigned hereby makes each representation and warranty set forth in Section 6 of the Foreign Guaranty
with respect to itself to the same extent as each other Guarantor made such representation with respect to itself.

 

Section 4. Electronic
Delivery. Delivery of an executed counterpart of a signature page to this Foreign Guaranty Supplement by telecopier or by electronic
transmission (e.g. “.pdf” or “.tif”) shall be effective as delivery of an original executed counterpart
of this Foreign Guaranty Supplement.

 

    	 	A-2	Chemtura (Revolving  Facility) Foreign Guaranty

    	 

    

 

Section 5. Governing
Law; Jurisdiction; Waiver of Jury Trial, Etc. (a) This Foreign Guaranty Supplement shall be governed by, and construed in accordance
with, the laws of the State of New York.

 

(b)          The
undersigned hereby irrevocably and unconditionally submits, for itself and its property, to the exclusive jurisdiction of any New York
State court or any 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 Foreign Guaranty Supplement, the Foreign Guaranty or any
of the other Loan Documents or Foreign Secured Cash Management Agreements to which it is or is to be a party, or for recognition
or enforcement of any judgment, and the undersigned hereby irrevocably and unconditionally 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 undersigned 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.

 

(c)          The
undersigned 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 Foreign
Guaranty Supplement, the Foreign Guaranty or any of the other Loan Documents or Foreign Secured Cash Management Agreements to which
it is or is to be a party in any New York State or federal court. The undersigned hereby irrevocably waives, to the fullest
extent permitted by law, the defense of an inconvenient forum to the maintenance of such suit, action or proceeding in any such
court.

 

(d)          THE
UNDERSIGNED 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 ANY OF THE LOAN DOCUMENTS OR FOREIGN SECURED CASH MANAGEMENT AGREEMENTS, THE ADVANCES
OR THE ACTIONS OF ANY SECURED PARTY IN THE NEGOTIATION, ADMINISTRATION, PERFORMANCE OR ENFORCEMENT THEREOF.

 

	 	Very truly yours,
	 	 
	 	[NAME OF ADDITIONAL GUARANTOR]
	 	 
	 	By	 
	 	 	Name:
	 	 	Title:

 

    	 	A-3	Chemtura (Revolving Facility) Foreign GuarantyEXECUTION VERSION

 

SECURITY AGREEMENT

 

Dated as of November 10, 2010

 

And as amended and restated on December
4, 2013

 

From

 

The US Grantors referred to herein

 

as US Grantors

 

to

 

BANK OF AMERICA, N.A.

 

as the US Administrative Agent

 

    	 

    	 

    

 

TABLE OF CONTENTS

 

	Section	Page
	 	 
	Section 1. Grant of Security	2
	 	 
	Section 2. Security for Obligations	7
	 	 
	Section 3. US Grantors Remain Liable	8
	 	 
	Section 4. Delivery and Control of Security Collateral	8
	 	 
	Section 5. Maintaining the Account Collateral	9
	 	 
	Section 6. [Reserved]	9
	 	 
	Section 7. [Reserved]	9
	 	 
	Section 8. Representations and Warranties	9
	 	 
	Section 9. Further Assurances	14
	 	 
	Section 10. [Reserved]	15
	 	 
	Section 11. Insurance	15
	 	 
	Section 12. Post-Closing Changes; Collections on Receivables and Related Contracts	16
	 	 
	Section 13. As to Intellectual Property Collateral	17
	 	 
	Section 14. Voting Rights; Dividends; Etc.	19
	 	 
	Section 15. [Reserved]	20
	 	 
	Section 16. As to Letter-of-Credit Rights	20
	 	 
	Section 17. Commercial Tort Claims	21
	 	 
	Section 18. Transfers and Other Liens	21
	 	 
	Section 19. US Administrative Agent Appointed Attorney in Fact	21
	 	 
	Section 20. US Administrative Agent May Perform	22
	 	 
	Section 21. The US Administrative Agent’s Duties	22
	 	 
	Section 22. Remedies	22
	 	 
	Section 23. Indemnity and Expenses	24
	 	 
	Section 24. Amendments; Waivers; Additional US Grantors; Etc.	25
	 	 
	Section 25. Notices, Etc.	25

 

    	 	i	Chemtura (Revolving Facility) US Security Agreement

    	 

    

 

	Section 26. Continuing Security Interest; Assignments under the Credit Agreement	26
	 	 
	Section 27. Release; Termination	26
	 	 
	Section 28. Execution in Counterparts	26
	 	 
	Section 29. Governing Law	27
	 	 
	Section 30. Intercreditor Agreement.	27
	 	 
	Section 31. Amendment and Restatement	27

 

	Schedules	 	 
	 	 	 
	Schedule I	-	Investment Property
	Schedule II	-	Initial Pledged Deposit Accounts
	Schedule III	-	[Intentionally Omitted]
	Schedule IV	-	Intellectual Property
	Schedule IV-A	-	Security Interests in Intellectual Property for Which a Release has Not  Been Filed
	Schedule V	-	Commercial Tort Claims
	Schedule VI	-	Location, Chief Executive Office, Type of Organization, Jurisdiction of
	 	 	Organization and Organizational Identification Number
	Schedule VII	-	Changes in Name, Location, Etc.
	Schedule VIII	-	[Intentionally Omitted]
	Schedule IX	-	Letters of Credit
	 	 	 
	Exhibits	 	 
	 	 	 
	Exhibit A	-	Form of Second Lien Intellectual Property Security Agreement
	Exhibit B	-	Form of Second Lien Intellectual Property Security Agreement  Supplement
	Exhibit C	-	Form of Security Agreement Supplement

 

    	 	ii	Chemtura (Revolving Facility) US Security Agreement

    	 

    

 

SECURITY AGREEMENT

 

SECURITY AGREEMENT dated November 10, 2010
(as amended and restated on December 4, 2013 and as further amended, amended and restated, supplemented or otherwise modified from
time to time, this “Agreement”), made by Chemtura Corporation, a Delaware corporation (the “Company”),
the other US Borrowers (as defined in the Credit Agreement referred to below) (together with the Company, the “Borrowers”)
and each of the other Persons listed on the signature pages hereof (the Borrowers and the Persons so listed being, collectively,
the “US Grantors”), to Bank of America, N.A., as the US Administrative Agent (in such capacity, together
with any successor US Administrative Agent appointed pursuant to Article VII of the Credit Agreement (as hereinafter defined),
the “US Administrative Agent”) for the US Secured Parties (as defined in the Credit Agreement).

 

PRELIMINARY STATEMENTS.

 

(1) The Company has entered into (a) a Senior
Secured Revolving Facilities Credit Agreement dated as of November 10, 2010 (as amended, amended and restated, supplemented or
otherwise modified from time to time, the “Existing Credit Agreement”) with the US Administrative Agent,
the other agents named therein, and the Lender Parties from time to time party thereto and (b) a Security Agreement dated as of
November 10, 2010 (as amended, amended and restated, supplemented or otherwise modified from time to time, the “Existing
Security Agreement”) with the US Administrative Agent and the Subsidiaries of the Company named therein.

 

(2) As of the date hereof, each US Grantor
is the owner of the shares of stock or other Equity Interests (the “Initial Pledged Equity”) set forth
opposite such US Grantor’s name on and as otherwise described in Part I of Schedule I hereto and issued by the Persons named
therein and of the indebtedness (the “Initial Pledged Debt”) set forth opposite such US Grantor’s
name on and as otherwise described in Part II of Schedule I hereto and issued by the obligors named therein.

 

(3) As of the date hereof, each US Grantor
is the owner of the deposit accounts (the “Initial Pledged Deposit Accounts”) set forth opposite such
US Grantor’s name on Schedule II hereto.

 

(4) As of the date hereof, each US Grantor
is the owner of the securities accounts set forth in Part III of Schedule I (the “Securities Accounts”).

 

(5) The parties to (a) the Existing Credit
Agreement wish to amend and restate the Existing Credit Agreement in the form thereof effective as of the Effective Date (as defined
in the amended and restated Credit Agreement, the “Credit Agreement”). It is a condition precedent to
the effectiveness of the Credit Agreement that the Existing Security Agreement be amended and restated in the form hereof on or
prior to the Effective Date. Each US Grantor will derive substantial direct and indirect benefit from the transactions contemplated
by the Loan Documents.

 

    	 	 	Chemtura (Revolving Facility) US Security Agreement

    	 

    

 

(6) Terms defined in the Credit Agreement
or the Intercreditor Agreement and not otherwise defined in this Agreement are used in this Agreement as defined in the Credit
Agreement or the Intercreditor Agreement, as the context may require. Further, unless otherwise defined in this Agreement or in
the Credit Agreement or the Intercreditor Agreement, terms defined in Article 8 or 9 of the UCC (as defined below) and/or in the
Federal Book Entry Regulations (as defined below) are used in this Agreement as such terms are defined in such Article 8 or 9 and/or
in the Federal Book Entry Regulations. “UCC” means the Uniform Commercial Code as in effect from time
to time in the State of New York; provided that, if perfection or the effect of perfection or non-perfection or the priority
of any security interest in any Collateral is governed by the Uniform Commercial Code as in effect in a jurisdiction other than
the State of New York, “UCC” means the Uniform Commercial Code as in effect from time to time in such
other jurisdiction for purposes of the provisions hereof relating to such perfection, effect of perfection or non-perfection or
priority. “Federal Book-Entry Regulations” means (A) the federal regulations contained in Subpart B (“Treasury/Reserve
Automated Debt Entry System (TRADES)”) governing book-entry securities consisting of U.S. Treasury notes, bills and bonds
and Subpart D (“Additional Provisions”) of 31 C.F.R. Part 357, 31 C.F.R. § 357.10 through § 357.15 and §
357.40 through § 357.45, including related defined terms in 31 C.F.R. § 357.2); and (B) to the extent substantially identical
to the federal regulations referred to in clause (A) above, the federal regulations governing other book-entry securities.

 

NOW, THEREFORE, in consideration of the premises
and in order to induce the US Lender Parties to continue to make Advances and issue Letters of Credit under the Credit Agreement,
to induce the Cash Management Banks to continue to enter into Secured Cash Management Agreements from time to time, each US Grantor
hereby agrees with the US Administrative Agent for the ratable benefit of the US Secured Parties as follows:

 

Section 1. Grant of Security. Each
US Grantor hereby grants to the US Administrative Agent, for the ratable benefit of the US Secured Parties, a security interest
in such US Grantor’s right, title and interest in and to the following, in each case, as to each type of property described
below, whether now owned or hereafter acquired by such US Grantor, wherever located, and whether now or hereafter existing or arising
(collectively, the “Collateral”):

 

(a) all “equipment”
as defined in the UCC (any and all such property being the “Equipment”);

 

(b) all “inventory”
as defined in the UCC (any and all such property being the “Inventory”);

 

(c) all “general intangibles”
as defined in the UCC (any and all such property being the “General Intangibles”);

 

(d) all “goods” as
defined in the UCC (any and all such property being the “Goods”);

 

(e) all “accounts”
as defined in the UCC (any and all such accounts and other obligations, to the extent not referred to in clause (d), (e) or (f)
below, being the “Receivables,” and any and all such supporting obligations, security agreements, mortgages,
Liens, leases, letters of credit and other contracts being the “Related Contracts”);

 

    	 	2	Chemtura (Revolving Facility) US Security Agreement

    	 

    

 

(f) the following (the “Security
Collateral”):

 

(i)          the
Initial Pledged Equity and the certificates, if any, representing the Initial Pledged Equity, and all dividends, distributions,
return of capital, cash, instruments and other property from time to time received, receivable or otherwise distributed in respect
of or in exchange for any or all of the Initial Pledged Equity and all warrants, rights or options issued thereon or with respect
thereto;

 

(ii)         the
Initial Pledged Debt and the instruments, if any, evidencing the Initial Pledged Debt, and all interest, cash, instruments and
other property from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all of the
Initial Pledged Debt;

 

(iii)        all
additional shares of stock and other Equity Interests from time to time acquired by such US Grantor in any manner (such shares
and other Equity Interests, together with the Initial Pledged Equity, being the “Pledged Equity”), and
the certificates, if any, representing such additional shares or other Equity Interests, and all dividends, distributions, return
of capital, cash, instruments and other property from time to time received, receivable or otherwise distributed in respect of
or in exchange for any or all of such shares or other Equity Interests and all warrants, rights or options issued thereon or with
respect thereto;

 

(iv)        all
additional indebtedness from time to time owed to such US Grantor (such indebtedness, together with the Initial Pledged Debt, being
the “Pledged Debt”) and the instruments, if any, evidencing such indebtedness, and all interest, cash,
instruments and other property from time to time received, receivable or otherwise distributed in respect of or in exchange for
any or all of such indebtedness;

  

(v)         the
Securities Accounts, all security entitlements with respect to all financial assets from time to time credited to the Securities
Accounts, and all financial assets, and all dividends, distributions, return of capital, interest, cash, instruments and other
property from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all of such security
entitlements or financial assets and all warrants, rights or options issued thereon or with respect thereto; and

 

(vi)        all
other investment property (including, without limitation, all (A) securities, whether certificated or uncertificated, (B) security
entitlements, (C) securities accounts, (D) commodity contracts and (E) commodity accounts) in which such US Grantor has now, or
acquires from time to time hereafter, any right, title or interest in any manner, and the certificates or instruments, if any,
representing or evidencing such investment property, and all dividends, distributions, return of capital, interest, cash, instruments
and other property from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all
of such investment property and all warrants, rights or options issued thereon or with respect thereto;

 

    	 	3	Chemtura (Revolving Facility) US Security Agreement

    	 

    

 

(g) the following (collectively,
the “Account Collateral”):

 

(i)          all
deposit accounts (including the Initial Pledged Deposit Accounts) (the “Pledged Deposit Accounts”, it
being understood that the Pledged Deposit Accounts shall not include the Excluded Accounts (as defined below)), and all funds and
financial assets from time to time credited thereto (including, without limitation, all Cash Equivalents), and all certificates
and instruments, if any, from time to time representing or evidencing the Pledged Deposit Accounts;

 

(ii)         all
promissory notes, certificates of deposit, checks and other instruments from time to time delivered to or otherwise possessed by
the US Administrative Agent, the Foreign Administrative Agent or the Term Facility Agent for or on behalf of such US Grantor in
substitution for or in addition to any or all of the then existing Account Collateral; and

 

(iii)        all
interest, dividends, distributions, cash, instruments and other property from time to time received, receivable or otherwise distributed
in respect of or in exchange for any or all of the then existing Account Collateral;

  

(h) the following (collectively,
the “Intellectual Property Collateral”):

 

(i)          all
patents, patent applications, utility models and statutory invention registrations, together with all inventions claimed or disclosed
therein and all improvements thereto (“Patents”);

 

(ii)         all
trademarks, service marks, domain names, trade dress, logos, designs, slogans, trade names, business names, fictitious business
names, corporate names, certification marks, collective marks and other source identifiers, whether registered or unregistered
(provided that no security interest shall be granted in any United States intent-to-use trademark application for registration
of a trademark filed pursuant to Section 1(b) of the Lanham Act, 15 U.S.C. § 1051, prior to the filing of a “Statement
of Use” pursuant to Section 1(d) of the Lanham Act or an “Amendment to Allege Use” pursuant to Section 1(c) of
the Lanham Act with respect thereto, solely to the extent, if any, that, and solely during the period, if any, in which, the grant
of a security interest therein would impair the validity or enforceability, or result in the voiding, of such application or any
registration that issues from such application under applicable federal law), together, in each case, with the goodwill symbolized
thereby (“Trademarks”);

 

(iii)        all
copyrights (whether or not the underlying works of authorship have been published), including, without limitation, copyrights in
Computer Software (as hereinafter defined), internet web sites and the content thereof, whether registered or unregistered (“Copyrights”);

 

    	 	4	Chemtura (Revolving Facility) US Security Agreement

    	 

    

 

(iv)        all
computer software, programs and databases (including, without limitation, source code, object code and all related applications
and data files), firmware and documentation and materials relating thereto, together with any and all maintenance rights, service
rights, programming rights, hosting rights, test rights, improvement rights, renewal rights and indemnification rights and any
substitutions, replacements, improvements, error corrections, updates and new versions of any of the foregoing (“Computer
Software”);

 

(v)         all
confidential and proprietary information, including, without limitation, know-how, trade secrets, manufacturing and production
processes and techniques, inventions, research and development information, databases and data, including, without limitation,
technical data, financial, marketing and business data, pricing and cost information, business and marketing plans and customer
and supplier lists and information (collectively, “Trade Secrets”), and all other intellectual, industrial
and intangible property of any type, including, without limitation, industrial designs and mask works;

 

(vi)        all
registrations and applications for registration for any of the foregoing, including, without limitation, those registrations and
applications for registration set forth in Schedule IV hereto, together with all reissues, divisions, continuations, continuations-in-part,
extensions, renewals and reexaminations thereof;

 

(vii)       all
rights in the foregoing provided by international treaties or conventions, all rights corresponding thereto throughout the world
and all other rights of any kind whatsoever of such US Grantor accruing thereunder or pertaining thereto;

 

(viii)      all
agreements, permits, consents, orders and franchises relating to the license, development, use or disclosure of any of the foregoing
to which such US Grantor, now or hereafter, is a party or a beneficiary, including, without limitation, the agreements set forth
in Schedule IV hereto (“IP Agreements”);

 

(ix)         all
tangible embodiments of any of the foregoing; and

 

(x)          any
and all claims for damages and injunctive relief for past, present and future infringement, dilution, misappropriation, violation,
misuse or breach with respect to any of the foregoing, with the right, but not the obligation, to sue for and collect, or otherwise
recover, such damages;

 

(i) the commercial tort claims
described in Schedule V hereto (together with any commercial tort claims as to which the US Grantors have complied with the requirements
of Section 17, the “Commercial Tort Claims Collateral”);

 

(j) all books and records (including,
without limitation, customer lists, credit files, printouts and other computer output materials and records) of such US Grantor
pertaining to any of the Collateral; and

 

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(k) all proceeds of, collateral
for, income, royalties and other payments now or hereafter due and payable with respect to, and supporting obligations relating
to, any and all of the Collateral (including, without limitation, proceeds, collateral and supporting obligations that constitute
property of the types described in clauses (a) through (j) of this Section 1) and, to the extent not otherwise included, all (A)
payments under insurance (whether or not the US Administrative Agent is the loss payee thereof), or any indemnity, warranty or
guaranty, payable by reason of loss or damage to or otherwise with respect to any of the foregoing Collateral, and (B) cash;

 

provided that:

 

(1) the Collateral shall not include any rights or interests
of a US Grantor in any joint venture if, and to the extent that, under applicable law or the terms of the applicable contract with
respect thereto, the valid grant of a security interest or other Lien therein hereunder is prohibited and such prohibition has
not been or is not waived, or the consent of each other party to such contract has not been or is not otherwise obtained, or under
applicable law such prohibition cannot be waived, provided that the foregoing exclusion under this clause (1) shall in no
way be construed (i) to apply if any such prohibition is ineffective or unenforceable under the UCC (including Sections 9-406,
9-407, 9-408 or 9-409) or any other applicable law or (ii) so as to limit, impair or otherwise affect the US Administrative Agent’s
unconditional continuing security interest in and Lien upon any rights or interests of any US Grantor in or to monies due or to
become due under any such contract; provided further that, if, as a result of any change in applicable law or the
terms of the applicable contract with respect thereto or in any other circumstance, the grant of such a security interest or other
Lien is no longer so prohibited, then this clause (1) shall, immediately upon the change in such laws or circumstance, no longer
exclude such rights or interests from the Collateral;

 

(2) solely to the extent and only for so long as the pledge
by any US Grantor of more than 65% of the Voting Foreign Stock in a CFC under this Agreement to the US Administrative Agent on
behalf of the US Secured Parties would result in material adverse tax consequences to the Company, the Collateral shall not include
any Equity Interests in any CFC (or any Equity Interests in any entity that is treated as a partnership or a disregarded entity
for United States federal income tax purposes and in each case whose assets are solely Equity Interests in CFCs (a “Flow-Through
Entity”) that own, directly or indirectly through one or more other Flow-Through Entities, Equity Interests in any
CFCs) owned or otherwise held by such US Grantor which, when aggregated with all of the other Equity Interests in such CFC (or
Flow-Through Entity) pledged by any US Grantor, would result (or would be deemed to result for United States federal income tax
purposes) in more than 65% of the total combined voting power of all classes of stock in a CFC entitled to vote (within the meaning
of Treasury Regulation Section 1.956-2(c)(2) promulgated under the Internal Revenue Code) (the “Voting Foreign Stock”)
(on a fully diluted basis) being pledged to the US Administrative Agent, on behalf of the US Secured Parties, under this Agreement
(provided that all of the shares of stock in a Foreign Subsidiary not entitled to vote (within the meaning of Treasury Regulation
Section 1.956-2(c)(2) promulgated under the Internal Revenue Code) (the “Non-Voting Foreign Stock”) shall
be Collateral pledged by each of the US Grantors that owns or otherwise holds any such Non-Voting Foreign Stock therein); provided
further that, if, as a result of any change in the tax laws of the United States of America after the date of this Agreement
or in any other circumstance, the pledge by such US Grantor of any additional shares of stock in any such Foreign Subsidiary to
the US Administrative Agent, on behalf of the US Secured Parties, under this Agreement would not result in material adverse tax
consequences to the Company, then this clause (2) shall, immediately upon the change in such laws or circumstance, no longer exclude
such additional shares of stock from the Collateral;

 

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(3) the Collateral shall not include any property or asset to
the extent that the grant of a Lien hereunder in such property or asset is prohibited by applicable law or requires any consent
of any governmental authority not obtained pursuant to applicable law; provided that such property or asset will be excluded
from the Collateral only to the extent and for so long as the consequences specified above will result and will be included in
the Collateral and will become subject to the Lien granted hereunder, immediately and automatically, at such time as such consequences
will no longer result;

 

(4) the Collateral shall not include any lease, license, contract,
property right or agreement to which any US Grantor is a party or any of its rights or interests thereunder only to the extent
and only for so long as the grant of a Lien hereunder will constitute or result in a breach, termination or default under or requires
any consent not obtained under any such lease, license, contract, agreement or property right (other than to the extent that any
such term would be rendered ineffective pursuant to Sections 9-406, 9-407, 9-408 or 9-409 of the UCC (or any successor provision
or provisions) of any relevant jurisdiction or any other applicable law (including the Bankruptcy Code) or principles of equity);
provided that such lease, license, contract, property right or agreement will be excluded from the Collateral only to the
extent and for so long as the consequences specified above will result and will be included in the Collateral and will become subject
to the Lien granted hereunder, immediately and automatically, at such time as such consequences will no longer result; and

 

(5) the Collateral shall not include any motor vehicles, vessels
and aircraft, or other property subject to a certificate of title statute of any jurisdiction.

 

Section 2. Security for Obligations.
This Agreement secures, in the case of each US Grantor, the payment of all US Obligations of each US Loan Party or Subsidiary of
a US Loan Party now or hereafter existing under or in respect of the Loan Documents (including, without limitation, the US Secured
Cash Management Agreements, whether direct or indirect, absolute or contingent, and whether for principal, reimbursement obligations,
interest, fees, premiums, penalties, indemnifications, contract causes of action, costs, expenses or otherwise (all such US Obligations
being the “Secured Obligations”). Without limiting the generality of the foregoing, this Agreement secures,
as to each US Grantor, the payment of all amounts that constitute part of the Secured Obligations and would be owed by any US Loan
Party or Subsidiary of a US Loan Party to any US Secured Party under the Loan Documents but for the fact that they are unenforceable
or not allowable due to the existence of a bankruptcy, reorganization or similar proceeding involving a US Loan Party or Subsidiary
of a US Loan Party.

 

    	 	7	Chemtura (Revolving Facility) US Security Agreement

    	 

    

 

Section 3. US Grantors Remain Liable.
Anything herein to the contrary notwithstanding, (a) each US Grantor shall remain liable under the contracts and agreements included
in such US Grantor’s Collateral to the extent set forth therein to perform all of its duties and obligations thereunder to
the same extent as if this Agreement had not been executed, (b) the exercise by the US Administrative Agent of any of the rights
hereunder shall not release any US Grantor from any of its duties or obligations under the contracts and agreements included in
the Collateral and (c) no US Secured Party shall have any obligation or liability under the contracts and agreements included in
the Collateral by reason of this Agreement or any other Loan Document, nor shall any US Secured Party be obligated to perform any
of the obligations or duties of any US Grantor thereunder or to take any action to collect or enforce any claim for payment assigned
hereunder.

 

Section 4. Delivery and Control of Security
Collateral. (a) All certificates or instruments representing or evidencing Security Collateral (except any certificate or instrument
the principal amount evidenced thereby does not exceed $1,000,000 individually and $10,000,000 in the aggregate (for any and all
certificates and instruments held by any and all US Grantors)) shall be delivered promptly to and held by or on behalf of the US
Administrative Agent pursuant hereto (unless the Term Facility Agent is granted a prior security interest in such certificates
and instruments and the same are required to be delivered (and are so delivered) to the Term Facility Agent) and shall be accompanied
by duly executed instruments of transfer or assignment in blank. The US Administrative Agent shall have the right at any time to
exchange certificates or instruments representing or evidencing Security Collateral for certificates or instruments of smaller
or larger denominations to the extent the relevant US Grantor can obtain such certificates with the exercise of commercially reasonable
efforts.

 

(b) From and after the date falling 60 days
after the date hereof (or such later date as the US Administrative Agent may reasonably determine), with respect to any Securities
Account (other than any Excluded Account (as defined below)) and any Security Collateral that constitutes a security entitlement
as to which the financial institution acting as US Administrative Agent hereunder is not the securities intermediary, the relevant
US Grantor will cause the securities intermediary with respect to such Securities Account or security entitlement either (i) to
identify in its records the US Administrative Agent as the entitlement holder thereof (unless the Term Facility Agent is granted
a prior security interest in such security entitlement and such US Grantor is required to cause (and has so caused) such securities
intermediary to identify in its records the Term Facility Agent as the entitlement holder thereof) or (ii) to execute and deliver
to the US Administrative Agent a control agreement, such agreement to be in form and substance reasonably satisfactory to the US
Administrative Agent (a “Securities Account Control Agreement”).

 

(c) Subject to the Intercreditor Agreement,
the US Administrative Agent shall have the right, at any time after the occurrence and during the continuance of an Event of Default,
(i) in its discretion and without notice to any US Grantor, to transfer to or to register in the name of the US Administrative
Agent or any of its nominees any or all of the Security Collateral, subject only to the revocable rights specified in Section 14(a)
and (ii) to convert Security Collateral consisting of financial assets credited to any Securities Account to Security Collateral
consisting of financial assets held directly by the US Administrative Agent, and to convert Security Collateral consisting of financial
assets held directly by the US Administrative Agent to Security Collateral consisting of financial assets credited to any Securities
Account.

 

    	 	8	Chemtura (Revolving Facility) US Security Agreement

    	 

    

 

(d) Upon the request of the US Administrative
Agent following the occurrence and during the continuance of an Event of Default, each US Grantor will notify each issuer of Security
Collateral granted by it hereunder that such Security Collateral is subject to the security interest granted hereunder.

 

Section 5. Maintaining the Account Collateral.
So long as Discharge shall not have occurred,

 

(a) From and after the date falling 60 days
after the date hereof (or such later date as the US Administrative Agent may reasonably determine), each US Grantor (other than
for the 30 days (or such later date as the US Administrative Agent may reasonably determine) following the date an entity becomes
an Additional US Grantor hereunder as referenced in Section 5.01(k) of the Credit Agreement) will maintain deposit accounts (other
than Excluded Accounts) only with the financial institution acting as US Administrative Agent hereunder or with a bank (a “Pledged
Account Bank”) that has executed and delivered to the US Administrative Agent a control agreement, such agreement
to be in form and substance reasonably satisfactory to the US Administrative Agent (a “Deposit Account Control Agreement”).
“Excluded Accounts” means (i) payroll accounts, (ii) trust accounts, (iii) escrow accounts or security
deposits established pursuant to statutory obligations or for the payment of taxes or holding funds in trust for third parties
not affiliated with the Company in the ordinary course of business or in connection with acquisitions, investments or dispositions
permitted under the Credit Agreement, (iv) deposits in the ordinary course of business in connection with workers’ compensation,
unemployment insurance and other types of social security, (v) reserve accounts expressly contemplated under the Plan and/or Disclosure
Statement (including, but not limited to reserves expressly contemplated under the Plan and/or Disclosure Statement for diacetyl
claims and environmental claims, and escrow accounts established pursuant to contractual obligations to third parties not affiliated
with the Company for casualty payments and insurance proceeds), and (vi) deposit accounts with an aggregate balance of no more
than $500,000 at any time.

 

(b) Subject to the Intercreditor Agreement,
the US Administrative Agent may, at any time and without notice to, or consent from, the US Grantor, transfer, or direct the transfer
of, funds from the Pledged Deposit Accounts to satisfy the Secured Obligations then due and owing if an Event of Default shall
have occurred and be continuing.

 

Section 6. [Reserved].

 

Section 7. [Reserved].

 

Section 8. Representations and Warranties.
Each US Grantor represents and warrants as follows:

 

(a) As of the date hereof, such
US Grantor’s exact legal name, chief executive office, type of organization, jurisdiction of organization and organizational
identification number is set forth in Schedule VI hereto.

 

    	 	9	Chemtura (Revolving Facility) US Security Agreement

    	 

    

 

(b) Such US Grantor is the legal
or beneficial owner of, or has a license or, to the knowledge of such US Grantor, other right to use, the Collateral granted or
purported to be granted by it free and clear of any Lien, claim, option or, to the knowledge of such US Grantor, right of others,
except for the security interest created under this Agreement and Liens, claims, options or rights of others permitted under the
Credit Agreement (including, without limitation, the Liens held by the Term Facility Secured Parties and the Foreign Secured Parties).
Except as set forth on Schedule IV-A with respect to the filings at the U.S. Patent and Trademark Office or the U.S. Copyright
Office relating to Debt that has been discharged and repaid in full, no effective financing statement or other instrument similar
in effect covering all or any part of such Collateral or listing such US Grantor as debtor is on file in any recording office,
except such as may have been filed in favor of the US Administrative Agent relating to the Loan Documents or as otherwise permitted
under the Credit Agreement (including, without limitation, the Liens held by the Term Facility Secured Parties and by the Foreign
Secured Parties).

 

(c) [Intentionally Omitted].

 

(d) None of the Receivables is
evidenced by a promissory note or other instrument that has not been delivered to the US Administrative Agent (except to the extent
the principal amount of any such promissory note or instrument does not exceed $1,000,000 individually and $10,000,000 in the aggregate
(for any and all such promissory notes and instruments held by any and all US Grantors), and except for any such promissory note
or other instrument that is required to be delivered and has been so delivered to the Term Facility Agent).

 

(e) If such US Grantor is an issuer
of Security Collateral, such US Grantor confirms that it has received notice of the security interest granted hereunder.

 

(f) The Pledged Equity pledged
by such US Grantor hereunder which is issued by a Subsidiary of such US Grantor has been duly authorized and validly issued and
in the case of capital stock, is fully paid and non-assessable. With respect to any Pledged Debt evidenced by one or more promissory
notes, US Grantor has complied with Section 4(a).

 

(g) As of the date hereof, the
Initial Pledged Equity pledged by such US Grantor constitutes the percentage of the issued and outstanding Equity Interests of
the issuers thereof indicated on Schedule I hereto. As of the date hereof, to the knowledge of each US Grantor, the Initial Pledged
Debt constitutes all of the outstanding indebtedness evidenced as of the date hereof by any promissory note or instrument owed
to such US Grantor by the issuers thereof (except to the extent the principal amount of any such indebtedness does not exceed $1,000,000
individually and $10,000,000 in the aggregate (for any and all such indebtedness owing to any and all US Grantors), as set forth
in Schedule I hereto.

 

(h) As of the date hereof, the
Initial Pledged Equity set forth on Schedule I hereto are all Equity Interests held by any US Grantor in other Subsidiaries or
joint ventures.

 

(i) [Intentionally Omitted].

 

(j) [Intentionally Omitted].

 

    	 	10	Chemtura (Revolving Facility) US Security Agreement

    	 

    

 

(k) Such US Grantor is not a beneficiary
or assignee under any letter of credit, other than the letters of credit described in Schedule IX hereto and additional letters
of credit as to which such US Grantor has complied with the requirements of Section 16.

 

(l) This Agreement creates in
favor of the US Administrative Agent for the benefit of the US Secured Parties (i) a valid security interest in the Collateral
granted by such US Grantor, securing the payment of the Secured Obligations; (ii) subject to the filing of the financing statements
under the UCC (including payment of any applicable fees in connection therewith) in the applicable filing office, a perfected security
interest in the Collateral in which a security interest may be perfected by filing, recording or registering a financing statement
pursuant to the UCC (such financing statements having been delivered to the US Administrative Agent in completed and duly authorized
form); (iii) subject to the filing of the Intellectual Property Security Agreements referred to in Section 13(f) (including payment
of any applicable fees in connection therewith), a perfected security interest in all Intellectual Property Collateral in which
a security interest may be perfected upon the receipt and recording of such fully executed agreements with the United States Copyright
Office or the United States Patent and Trademark Office, as applicable; provided, however, that additional filings
may be required to perfect the US Administrative Agent’s security interest in any Intellectual Property Collateral acquired
after the date hereof; and (iv) in the case of all certificated Pledged Equity and Pledged Debt, subject to the delivery thereof
to the US Administrative Agent, the Foreign Administrative Agent or the Term Facility Agent (as the case may be) of such consisting
of instruments and certificates (in each case properly endorsed for transfer to the US Administrative Agent or in blank), a perfected
security interest in such certificated Pledge Equity to the extent it is a certificated security and Pledged Debt. All such perfected
security interests are first priority, except (i) as otherwise specified in the Intercreditor Agreement and (ii) for Permitted
Liens.

 

(m) As of the date hereof, no
authorization or approval or other action by, and no notice to or filing with, any governmental authority or regulatory body or
any other third party is required for (i) the grant by such US Grantor of the security interest granted hereunder or for the execution,
delivery or performance of this Agreement by such US Grantor, (ii) the perfection or maintenance of the security interest created
hereunder (including the first priority nature of such security interest in the Revolving Facility Collateral and the second priority
nature of such security interest in the Term Facility Collateral), except for (A) the filing of financing and continuation statements
under the UCC, which financing statements shall be duly filed and are in full force and effect, (B) the recordation of the Intellectual
Property Security Agreements referred to in Section 13(f) with the U.S. Patent and Trademark Office and the U.S. Copyright Office
and (C) the actions described in Section 4 with respect to the Security Collateral, which actions have been taken and are in full
force and effect, or (iii) the exercise by the US Administrative Agent of its voting or other rights provided for in this Agreement
or the remedies in respect of the Collateral pursuant to this Agreement, except as may be required in connection with the disposition
of any portion of the Security Collateral by laws affecting the offering and sale of securities generally.

 

    	 	11	Chemtura (Revolving Facility) US Security Agreement

    	 

    

 

(n) Each US Grantor has taken
reasonable steps to assure that all Inventory has been produced in compliance in all material respects with the Fair Labor Standards
Act and, to the extent non-compliance therewith could reasonably be expected to have a Material Adverse Effect, all other Applicable
Laws.

 

(o) As to itself and its Intellectual
Property Collateral:

 

(i)          Except
where it would not reasonably be expected to have a Material Adverse Effect, the operation of such US Grantor’s business
as currently conducted and the use of the Intellectual Property Collateral in connection therewith do not, to the knowledge of
such US Grantor, conflict with, infringe, misappropriate, dilute, misuse or otherwise violate the intellectual property rights
of any third party.

 

(ii)         Except
where it would not reasonably be expected to have a Material Adverse Effect, such US Grantor is the exclusive owner of all right,
title and interest in and to its Intellectual Property Collateral (other than IP Agreements), and is entitled to use all such Intellectual
Property Collateral in connection with its business as currently conducted subject only to the terms of the IP Agreements and applicable
law.

 

(iii)        The
Intellectual Property Collateral set forth on Schedule IV hereto includes all of the U.S. and non-U.S. patents, patent applications,
trademark and service mark registrations and applications, copyright registrations and applications and material IP Agreements
(other than off-the-shelf licenses for computer software) owned by such US Grantor as of the date hereof.

 

(iv)        Except
where it would not reasonably be expected to have a Material Adverse Effect, (A) the Intellectual Property Collateral set forth
on Schedule IV hereto is subsisting and the Intellectual Property Collateral has not been adjudged invalid or unenforceable in
whole or part, and to such US Grantor’s knowledge, is valid and enforceable, and (B) such US Grantor is not aware of any
uses of any item of Intellectual Property Collateral that would reasonably be expected to lead to such item becoming invalid or
unenforceable.

 

(v)         Except
for any Intellectual Property Collateral, the loss of which would not reasonably be expected to have a Material Adverse Effect,
such US Grantor has made or performed all filings, recordings and other acts and has paid all required fees and taxes to maintain
and protect its interest in the material registered Intellectual Property Collateral in full force and effect, and to protect and
maintain its interest therein including, without limitation, recordations of any of its interests in the Patents and Trademarks
with the U.S. Patent and Trademark Office and in corresponding national and international trademark and patent offices, and recordation
of any of its interests in the Copyrights with the U.S. Copyright Office and in corresponding national and international copyright
offices. Except where it would not reasonably be expected to have a Material Adverse Effect, such US Grantor has used proper statutory
notice in connection with its use of each patent, trademark and copyright included in the Intellectual Property Collateral.

 

    	 	12	Chemtura (Revolving Facility) US Security Agreement

    	 

    

 

(vi)        No
claim, action, suit, investigation, litigation or proceeding has been asserted or is pending or, threatened in writing against
such US Grantor (i) challenging such US Grantor’s rights in or use of any of the Intellectual Property Collateral, (ii) alleging
that the US Grantor’s rights in or use of the Intellectual Property Collateral or that any services provided by, processes
used by, or products manufactured or sold by, such US Grantor infringe, misappropriate, dilute, misuse or otherwise violate any
patent, trademark, copyright or other proprietary or intellectual property right of any third party, or (iii) alleging that the
Intellectual Property Collateral is being licensed or sublicensed by such US Grantor in violation or contravention of the terms
of any license or other agreement, which in each case would reasonably be expected to have a Material Adverse Effect. Except where
it would not reasonably be expected to have a Material Adverse Effect, to the knowledge of such US Grantor, no Person is engaging
in any activity that infringes, misappropriates, dilutes, misuses or otherwise violates such US Grantor’s rights in any Intellectual
Property Collateral. Except where it would not reasonably be expected to have a Material Adverse Effect, such US Grantor has not
granted any license, release, covenant not to sue, non-assertion assurance, or other right to any Person with respect to any part
of the Intellectual Property Collateral. The consummation of the transactions contemplated by the Transaction Documents will not
result in the termination or impairment of any of the material Intellectual Property Collateral.

 

(vii)       Except
where it would not reasonably be expected to have a Material Adverse Effect, with respect to each IP Agreement: (A) such IP Agreement
is valid and binding and in full force and effect and represents the entire agreement between such US Grantor and, to such US Grantor’s
knowledge, the other parties thereto with respect to the subject matter thereof; (B) such IP Agreement will not cease to be valid
and binding and in full force and effect on terms identical to those currently in effect as a result of the rights and interest
granted herein, nor will the grant of such rights and interest constitute a breach or default under such IP Agreement or otherwise
give any party thereto a right to terminate such IP Agreement; (C) such US Grantor has not received any notice of termination or
cancellation under such IP Agreement; (D) such US Grantor has not received any notice of a breach or default under such IP Agreement,
which breach or default has not been cured; (E) such US Grantor has not granted to any other third party (other than the Term Facility
Agent and the Foreign Administrative Agent) any rights, adverse or otherwise, under such IP Agreement, except duly authorized sublicenses
and as permitted under the Loan Documents; and (F) neither such US Grantor nor, to such US Grantor’s knowledge, any other
party to such IP Agreement is in breach or default thereof in any material respect, and no event has occurred that, with notice
or lapse of time or both, would constitute such a breach or default or permit termination, modification or acceleration under such
IP Agreement.

 

    	 	13	Chemtura (Revolving Facility) US Security Agreement

    	 

    

 

(viii)      Except
where it would not reasonably be expected to have a Material Adverse Effect, (A) none of the Trade Secrets of such US Grantor have
been used, divulged, disclosed or appropriated to the detriment of such US Grantor for the benefit of any other Person other than
such US Grantor; (B) no employee, independent contractor or agent of such US Grantor has misappropriated any trade secrets of any
other Person in the course of the performance of his or her duties as an employee, independent contractor or agent of such US Grantor;
and (C) no employee, independent contractor or agent of such US Grantor is in default or breach of any term of any employment agreement,
non-disclosure agreement, assignment of inventions agreement or similar agreement or contract relating in any way to the protection,
ownership, development, use or transfer of such US Grantor’s rights in any Intellectual Property Collateral.

 

(ix)         Except
where it would not reasonably be expected to have a Material Adverse Effect, no US Grantor or Intellectual Property Collateral
is subject to any outstanding consent, settlement, decree, order, injunction, judgment or ruling restricting the use of any Intellectual
Property Collateral or that would impair the validity or enforceability of such Intellectual Property Collateral.

 

(p) Such US Grantor has no commercial
tort claim which might reasonably be expected to result in awarded damages (except to the extent the amount thereof (less any and
all legal and other expenses incurred or in good faith expected to be incurred by such US Grantor) does not exceed $1,000,000 individually
and $10,000,000 in the aggregate (for any and all such commercial tort claims held by any and all US Grantors)) other than those
listed in Schedule V hereto and additional commercial tort claims as to which such US Grantor has complied with the requirements
of Section 17.

 

Section 9. Further Assurances. (a)
Except to the extent the obligation to take an action requested pursuant to this Section is contained in another provision of the
Loan Documents and such other provision contains an express time period for meeting such obligation and/or expressly limits the
scope of such obligation, each US Grantor agrees that from time to time, at the expense of such US Grantor, such US Grantor will
promptly execute and deliver, or otherwise authenticate, all further instruments and documents, and take all further action that
may be necessary or desirable, or that the US Administrative Agent may reasonably request, in order to perfect and protect any
pledge or security interest granted or purported to be granted by such US Grantor hereunder in the United States or to enable the
US Administrative Agent to exercise and enforce its rights and remedies hereunder with respect to any Collateral of such US Grantor;
provided that no such action shall be required to the extent that the Company and the US Administrative Agent reasonably
agree that the cost of such action is materially excessive in relation to the benefit afforded the Secured Parties. Without limiting
the generality of the foregoing (but subject to the proviso in the preceding sentence), each US Grantor will promptly with respect
to Collateral of such US Grantor: (i) at the request of the US Administrative Agent during the continuance of any Event of Default,
mark conspicuously each document included in Inventory, each chattel paper included in Receivables, each Related Contract and each
of its records pertaining to such Collateral with a legend, in form and substance reasonably satisfactory to the US Administrative
Agent, indicating that such document, chattel paper, Related Contract or Collateral is subject to the security interest granted
hereby; (ii) if any such Collateral shall be evidenced by a promissory note or other instrument or chattel paper (except to the
extent the principal face amount of such promissory note or other instrument or chattel paper does not exceed $1,000,000 individually
and $10,000,000 in the aggregate (for any and all such promissory notes, instruments and chattel paper owing to any and all US
Grantors)), deliver and pledge to the US Administrative Agent (unless such promissory note or other instrument or chattel paper
is required to be delivered and has been so delivered to the Term Facility Agent pursuant to the Intercreditor Agreement) such
promissory note or instrument or chattel paper duly indorsed and accompanied by duly executed instruments of transfer or assignment,
all in form and substance reasonably satisfactory to the US Administrative Agent; (iii) file such financing or continuation statements,
or amendments thereto, and such other instruments or notices, as may be necessary or desirable, or as the US Administrative Agent
may reasonably request, in order to perfect and preserve the security interest granted or purported to be granted by such US Grantor
hereunder in the United States; and (iv) deliver to the US Administrative Agent evidence that all other actions that the US Administrative
Agent may deem reasonably necessary or desirable in order to perfect and protect the security interest granted or purported to
be granted by such US Grantor under this Agreement in the United States has been taken; provided that no such action shall
be required to the extent that the Company and the US Administrative Agent reasonably agree that the cost of such action is materially
excessive in relation to the benefit afforded the US Secured Parties.

 

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(b) Each US Grantor hereby authorizes the
US Administrative Agent to file one or more financing or continuation statements, and amendments thereto, including, without limitation,
one or more financing statements indicating that such financing statements cover all or any assets or all or any personal property
(or words of similar effect) of such US Grantor, regardless of whether any particular asset described in such financing statements
falls within the scope of the UCC or the granting clause of this Agreement (it being understood that the US Administrative Agent
may file separate financing statements covering the Revolving Facility Collateral and the Term Facility Collateral to reflect the
different priorities of its Liens thereon relative to the Liens held by the Foreign Secured Parties and the Term Facility Secured
Parties). A photocopy or other reproduction of this Agreement shall be sufficient as a financing statement where permitted by law.

 

(c) Each US Grantor will furnish to the US
Administrative Agent from time to time statements and schedules further identifying and describing the Collateral of such US Grantor
and such other reports in connection with such Collateral as the US Administrative Agent may reasonably request, all in reasonable
detail.

 

Section 10. [Reserved].

 

Section 11. Insurance. (a) Each policy
of each US Grantor for liability insurance and property damage insurance shall provide for all losses to be paid on behalf of the
US Administrative Agent and such US Grantor as their interests may appear. Each such policy shall in addition (i) name such US
Grantor and the US Administrative Agent as insured parties or as loss payees thereunder (without any representation or warranty
by or obligation upon the US Administrative Agent) as their interests may appear, (ii) provide that at least 10 days’ prior
written notice of cancellation or of lapse shall be given to the US Administrative Agent by the insurer and (iii) provide that
there shall be no recourse against the US Administrative Agent for payment of premiums or other amounts with respect thereto.

 

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(b) Reimbursement under any liability insurance
maintained by any US Grantor pursuant to this Section 11 may be paid directly to the Person who shall have incurred liability covered
by such insurance.

 

Section 12. Post-Closing Changes; Collections
on Receivables and Related Contracts. (a) No US Grantor will change its name, type of organization, jurisdiction of organization
or organizational identification number from those set forth in Section 8(a) of this Agreement without taking all action reasonably
required by the US Administrative Agent for the purpose of perfecting or protecting the security interest granted by this Agreement
in the United States (and such US Grantor shall provide notice to the US Administrative Agent within 30 days of any such change).
Each US Grantor will hold and preserve its material records relating to the Collateral, including, without limitation, the Related
Contracts, and will permit representatives of the US Administrative Agent at any time subject to reasonable notice and during normal
business hours to inspect and make abstracts from such records and other documents. If any US Grantor does not have an organizational
identification number and later obtains one, it will forthwith notify the US Administrative Agent of such organizational identification
number.

 

(b) Except as otherwise provided in this subsection
(b), each US Grantor will be entitled to continue to collect, at its own expense, all amounts due or to become due such US Grantor
under the Receivables and Related Contracts. In connection with such collections, such US Grantor may take such action as such
US Grantor may deem necessary or advisable to enforce collection of Receivables and Related Contracts; provided, however,
that the US Administrative Agent shall have the right at any time, upon the occurrence and during the continuance of an Event of
Default and upon three (3) Business Days’ prior written notice to such US Grantor of its intention to do so, to notify the
Obligors under any Receivables and Related Contracts of the assignment of such Receivables and Related Contracts to the US Administrative
Agent and to direct such Obligors to make payment of all amounts due or to become due to such US Grantor thereunder directly to
the US Administrative Agent and, upon such notification and at the expense of such US Grantor, to enforce collection of any such
Receivables and Related Contracts, to adjust, settle or compromise the amount or payment thereof, in the same manner and to the
same extent as such US Grantor might have done, and to otherwise exercise all rights with respect to such Receivables and Related
Contracts, including, without limitation, those set forth set forth in Section 9-607 of the UCC. After receipt by any US Grantor
of the notice from the US Administrative Agent referred to in the proviso to the preceding sentence and so long as an Event of
Default has occurred and is continuing, (i) all amounts and proceeds (including, without limitation, instruments) received by such
US Grantor in respect of the Receivables and Related Contracts of such US Grantor shall be received in trust for the benefit of
the US Administrative Agent hereunder, shall be segregated from other funds of such US Grantor and shall be forthwith paid over
to the US Administrative Agent in the same form as so received (with any necessary indorsement) to be deposited in the US Administrative
Agent’s Office and applied as provided in Section 22(b) and (ii) such US Grantor will not, other than in the ordinary course,
adjust, settle or compromise the amount or payment of any Receivable or amount due on any Related Contract, release wholly or partly
any Obligor thereof or allow any credit or discount thereon. If any amounts or proceeds shall have been deposited in the US Administrative
Agent’s Office pursuant to clause (i) of this subsection (b) and shall not have been applied as provided in Section 22(b),
at such time as no Event of Default shall then be continuing, the US Administrative Agent shall release such remaining amounts
or proceeds to the applicable US Grantor. No US Grantor will permit or consent, other than in the ordinary course, to the subordination
of its right to payment under any of the Receivables and Related Contracts to any other indebtedness or obligations of the Obligor
thereof.

 

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Section 13. As to Intellectual Property
Collateral. (a) Unless such Loan Party shall have previously determined that the loss of such Intellectual Property would not
reasonably be expected to have a Material Adverse Effect, with respect to each item of its Intellectual Property Collateral, each
US Grantor agrees to take, at its expense, all commercially reasonable steps, including, without limitation, as such US Grantor
deems appropriate under the circumstances in the U.S. Patent and Trademark Office, the U.S. Copyright Office and any other United
States governmental authority, to (i) maintain the validity and enforceability of such Intellectual Property Collateral and maintain
such Intellectual Property Collateral in full force and effect, and (ii) pursue the registration and maintenance of each patent,
trademark, or copyright registration or application, now or hereafter included in such Intellectual Property Collateral of such
US Grantor, including, without limitation, the payment of required fees and taxes, the filing of responses to office actions issued
by the U.S. Patent and Trademark Office, the U.S. Copyright Office or other governmental authorities, the filing of applications
for renewal or extension, the filing of affidavits under Sections 8 and 15 of the U.S. Trademark Act, the filing of divisional,
continuation, continuation-in-part, reissue and renewal applications or extensions, the payment of maintenance fees and the participation
in interference, reexamination, opposition, cancellation, infringement and misappropriation proceedings. Except to the extent permitted
by the Credit Agreement, no US Grantor shall, without the written consent of the US Administrative Agent, sell, assign, convey,
transfer, discontinue use of, permit to lapse, or otherwise abandon any Intellectual Property Collateral, or abandon any right
to file an application for patent, trademark, or copyright, unless such US Grantor shall have previously determined that the loss
of such Intellectual Property Collateral would not reasonably be expected to have a Material Adverse Effect.

 

(b) If the result of such abandonment, invalidity,
unenforceability, determination or any other action would reasonably be expected to have a Material Adverse Effect, each US Grantor
agrees promptly to notify the US Administrative Agent if such US Grantor becomes aware (i) that any item of the Intellectual Property
Collateral may have become abandoned, placed in the public domain, invalid or unenforceable, or of any adverse determination or
development regarding such US Grantor’s ownership of any item of Intellectual Property Collateral or its right to register
any patent, trademark or copyright included in the Intellectual Property Collateral or to keep and maintain and enforce any issued
patent or patent application or any registration or application for any trademark or copyright, or (ii) of any adverse determination
or the institution of any proceeding (including, without limitation, the institution of any proceeding in the U.S. Patent and Trademark
Office or any court) regarding any item of the Intellectual Property Collateral.

 

(c) In the event that any US Grantor becomes
aware that any item of the Intellectual Property Collateral is being infringed, misappropriated, diluted or otherwise violated
by a third party, and such infringement or misappropriation would reasonably be expected to result in a Material Adverse Effect,
such US Grantor shall promptly notify the US Administrative Agent and shall take all commercially reasonable actions, at its expense,
to protect or enforce such Intellectual Property Collateral, including, without limitation, suing for infringement or misappropriation
and for an injunction against such infringement or misappropriation.

 

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(d) Each US Grantor shall use proper statutory
notice in connection with its use of registered trademarks, proper marking practices in connection with its use of patents, and
appropriate notice of copyright in connection with the publication of copyrights, in each case, that are included in the Intellectual
Property Collateral, except where the failure to do so would not reasonably be expected to result in a Material Adverse Effect.
No US Grantor shall do or permit any act or knowingly omit to do any act whereby any of the Intellectual Property Collateral may
lapse or become invalid or unenforceable or placed in the public domain, except where such loss of rights in such Intellectual
Property Collateral would not reasonably be expected to result in a Material Adverse Effect.

 

(e) Each US Grantor shall take all commercially
reasonable steps to preserve and protect each item of its Intellectual Property Collateral, including, without limitation, maintaining
the quality of any and all products or services used or provided in connection with any of the Trademarks, consistent with the
quality of the products and services as of the date hereof, and taking reasonable steps to ensure that all licensed users of any
of the Trademarks use such consistent standards of quality.

 

(f) Within 60 days after the date hereof,
with respect to the Intellectual Property Collateral set forth on Schedule IV (to the extent still owned by a US Grantor on such
date), each US Grantor agrees to execute or otherwise authenticate an agreement, in substantially the form set forth in Exhibit
A hereto (an “Intellectual Property Security Agreement”), for recording the security interest granted
hereunder to the US Administrative Agent in such Intellectual Property Collateral with the U.S. Patent and Trademark Office and
the U.S. Copyright Office.

 

(g) Each US Grantor agrees that should it
obtain or otherwise acquire an ownership interest in any item of the type set forth in Section 1(h) that is not on the date hereof
a part of the Intellectual Property Collateral (“After-Acquired Intellectual Property”) (i) the provisions
of this Agreement shall automatically apply thereto, and (ii) any such After-Acquired Intellectual Property and, in the case of
trademarks, the goodwill symbolized thereby, shall automatically become part of the Intellectual Property Collateral subject to
the terms and conditions of this Agreement with respect thereto. Within thirty (30) days of the end of each fiscal quarter of the
Company, each US Grantor shall give written notice to the US Administrative Agent identifying the After-Acquired Intellectual Property
that is the subject of registrations or applications for registration thereof acquired during such fiscal quarter, and such US
Grantor shall execute and deliver to the US Administrative Agent with such written notice, or otherwise authenticate, an agreement
substantially in the form of Exhibit B hereto (an “IP Security Agreement Supplement”) covering such After-Acquired
Intellectual Property, which IP Security Agreement Supplement shall be recorded with the U.S. Patent and Trademark Office or the
U.S. Copyright Office as necessary to perfect the security interest hereunder in such After-Acquired Intellectual Property.

 

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Section 14. Voting Rights; Dividends;
Etc.(a) So long as no Event of Default shall have occurred and be continuing:

 

(i)          Each
US Grantor shall be entitled to exercise any and all voting and other consensual rights pertaining to the Security Collateral of
such US Grantor or any part thereof for any purpose.

 

(ii)         Each
US Grantor shall be entitled to receive and retain any and all dividends, interest and other distributions paid in respect of the
Security Collateral of such US Grantor if and to the extent that the payment thereof is not otherwise prohibited by the terms of
the Loan Documents; provided, however, that if any Event of Default has occurred and is continuing, any and all

 

(A) dividends, interest and other
distributions paid or payable other than in cash in respect of, and instruments and other property received, receivable or otherwise
distributed in respect of, or in exchange for, any Security Collateral,

 

(B) dividends and other distributions
paid or payable in cash in respect of any Security Collateral in connection with a partial or total liquidation or dissolution
or in connection with a reduction of capital, capital surplus or paid in surplus and

 

(C) cash paid, payable or otherwise
distributed in respect of principal of, or in redemption of, or in exchange for, any Security Collateral

 

shall be, and shall be forthwith delivered to the
US Administrative Agent (unless such cash is required to be delivered and has been so delivered to the Term Facility Agent pursuant
to the Intercreditor Agreement) to hold as, Security Collateral and shall, if received by such US Grantor, be received in trust
for the benefit of the US Administrative Agent, be segregated from the other property or funds of such US Grantor and be forthwith
delivered to the US Administrative Agent (unless such cash is required to be delivered and has been so delivered to the Term Facility
Agent pursuant to the Intercreditor Agreement) as Security Collateral in the same form as so received (with any necessary indorsement).

 

(iii)        Subject
to the Intercreditor Agreement, the US Administrative Agent will execute and deliver (or cause to be executed and delivered) to
each US Grantor all such proxies and other instruments as such US Grantor may reasonably request for the purpose of enabling such
US Grantor to exercise the voting and other rights that it is entitled to exercise pursuant to paragraph (i) above and to receive
the dividends or interest payments that it is authorized to receive and retain pursuant to paragraph (ii) above.

 

(b) Upon the occurrence and during the continuance
of an Event of Default and upon notice to the US Grantors by the US Administrative Agent under this Section 14(b):

 

(i)          All
rights of each US Grantor (x) to exercise or refrain from exercising the voting and other consensual rights that it would otherwise
be entitled to exercise pursuant to Section 14(a)(i) shall, upon notice to such US Grantor by the US Administrative Agent, cease
and (y) to receive the dividends, interest and other distributions that it would otherwise be authorized to receive and retain
pursuant to Section 14(a)(ii) shall automatically cease, and all such rights shall thereupon become vested in the US Administrative
Agent, which shall thereupon so long as an Event of Default shall have occurred and be continuing have the sole right to exercise
or refrain from exercising such voting and other consensual rights and to receive and hold as Security Collateral such dividends,
interest and other distributions.

 

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(ii)         All
dividends, interest and other distributions that are received by any US Grantor contrary to the provisions of paragraph (i) of
this Section 14(b) shall, so long as an Event of Default shall have occurred and be continuing, be received in trust for the benefit
of the US Administrative Agent, shall be segregated from other funds of such US Grantor and shall be forthwith paid over to the
US Administrative Agent (unless such dividends, interest and other distributions are required to be delivered and have been so
delivered to the Term Facility Agent) as Security Collateral in the same form as so received (with any necessary indorsement).

 

(c) Nothing in this Section 14 shall be construed
to prohibit any US Grantor from taking any action with respect to any intra-group Debt owed among the Company and its Subsidiaries
after an Event of Default as permitted by Section 5.02(j) of the Credit Agreement.

 

Section 15. [Reserved].

 

Section 16. As to Letter-of-Credit Rights.
(a) Each US Grantor, by granting a security interest in its Receivables consisting of letter-of-credit rights to the US Administrative
Agent, intends to (and hereby does) assign to the US Administrative Agent its rights (including its contingent rights) to the proceeds
of all Related Contracts consisting of any letter of credit (except for any letter of credit the face amount of which does not
exceed $1,000,000 individually and $10,000,000 in the aggregate (for any and all such letters of credit issued for the benefit
of any and all US Grantors)) of which it is or hereafter becomes a beneficiary or assignee. Each US Grantor will promptly use commercially
reasonable efforts to cause the issuer of each letter of credit (except for any letter of credit the face amount of which does
not exceed $1,000,000 individually and $10,000,000 in the aggregate (for any and all such letters of credit issued for the benefit
of any and all US Grantors)) of which any US Grantor is or hereafter becomes a beneficiary or assignee and each nominated person
(if any) with respect thereto to consent to such assignment of the proceeds thereof pursuant to a consent in form and substance
reasonably satisfactory to the US Administrative Agent (with provisions necessary to reflect the Term Facility Agent’s prior
security interest therein pursuant to the Intercreditor Agreement if the Term Facility Agent is required to be assigned (and has
been assigned) the proceeds thereof pursuant to a prior security interest therein in accordance with the Intercreditor Agreement)
and deliver written evidence of such consent to the US Administrative Agent.

 

(b) Upon the occurrence and during the continuance
of an Event of Default, each US Grantor will, promptly upon request by the US Administrative Agent, (i) notify (and such US Grantor
hereby authorizes the US Administrative Agent to notify) the issuer and each nominated person with respect to each of the Related
Contracts consisting of any letter of credit (except for any letter of credit the face amount of which does not exceed $1,000,000
individually and $10,000,000 in the aggregate (for any and all such letters of credit issued for the benefit of any and all US
Grantors)) of which it is or hereafter becomes a beneficiary or assignee that the proceeds thereof have been assigned to the US
Administrative Agent hereunder and any payments due or to become due in respect thereof are to be made directly to the US Administrative
Agent or its designee and (ii) use commercially reasonable efforts to arrange for the US Administrative Agent (unless the Term
Facility Agent is required to become (and has become) the transferee beneficiary thereof pursuant to a prior security interest
therein pursuant to the Intercreditor Agreement) to become the transferee beneficiary of such letter of credit.

 

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Section 17. Commercial Tort Claims.
Each US Grantor will give notice to the US Administrative Agent within forty-five (45) days of a Responsible Officer obtaining
knowledge that such US Grantor has any commercial tort claim that such Responsible Officer believes would reasonably be expected
to result in awarded damages (except to the extent such Responsible Officer believes in good faith that the amount thereof (less
any and all legal and other expenses incurred or reasonably expected to be incurred by such US Grantor) does not exceed $1,000,000
individually and $10,000,000 in the aggregate (for any and all such commercial tort claims held by any and all US Grantors) that
any US Grantor may become aware of after the date hereof and will promptly thereafter execute or otherwise authenticate a supplement
to this Agreement, and otherwise take all necessary action, to subject such commercial tort claim to the security interest created
under this Agreement.

 

Section 18. Transfers and Other Liens.
(a) Each US Grantor agrees that it will not (i) sell, assign or otherwise dispose of, or grant any option with respect to, any
of the Collateral, other than sales, assignments and other dispositions of Collateral, and options relating to Collateral, permitted
under the terms of the Credit Agreement, or (ii) create or suffer to exist any Lien upon or with respect to any of the Collateral
of such US Grantor except for the pledge, assignment and security interest created under this Agreement and Liens permitted under
the Credit Agreement.

 

Section 19. US Administrative Agent Appointed
Attorney in Fact. Each US Grantor hereby irrevocably appoints the US Administrative Agent such US Grantor’s attorney
in fact, with full authority in the place and stead of such US Grantor and in the name of such US Grantor or otherwise, from time
to time, upon the occurrence and during the continuance of an Event of Default, in the US Administrative Agent’s discretion,
to take any action and to execute any instrument that the US Administrative Agent may deem necessary or advisable to accomplish
the purposes of this Agreement, including, without limitation:

 

(a) to obtain and adjust insurance
required to be paid to the US Administrative Agent pursuant to Section 11,

 

(b) to ask for, demand, collect,
sue for, recover, compromise, receive and give acquittance and receipts for moneys due and to become due under or in respect of
any of the Collateral,

 

(c) to receive, indorse and collect
any drafts or other instruments, documents and chattel paper, in connection with clause (a) or (b) above, and

 

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(d) to file any claims or take
any action or institute any proceedings that the US Administrative Agent may deem necessary or desirable for the collection of
any of the Collateral or otherwise to enforce the rights of the US Administrative Agent with respect to any of the Collateral.

 

Section 20. US Administrative Agent May
Perform. If any US Grantor fails to perform any agreement contained herein related to the Lien and security interest granted
hereunder in the Collateral, the US Administrative Agent may, as the US Administrative Agent deems reasonably necessary to protect
the security interest granted hereunder in the Collateral or to protect the value thereof, but without any obligation to do so
and without notice, itself perform, or cause performance of, such agreement, and the expenses of the US Administrative Agent incurred
in connection therewith shall be payable by such US Grantor under Section 23.

 

Section 21. The US Administrative Agent’s
Duties. (a) The powers conferred on the US Administrative Agent hereunder are solely to protect the US Secured Parties’
interest in the Collateral and shall not impose any duty upon it to exercise any such powers. Except for the safe custody of any
Collateral in its possession and the accounting for moneys actually received by it hereunder, the US Administrative Agent shall
have no duty as to any Collateral, as to ascertaining or taking action with respect to calls, conversions, exchanges, maturities,
tenders or other matters relative to any Collateral, whether or not any US Secured Party has or is deemed to have knowledge of
such matters, or as to the taking of any necessary steps to preserve rights against any parties or any other rights pertaining
to any Collateral. The US Administrative Agent shall be deemed to have exercised reasonable care in the custody and preservation
of any Collateral in its possession if such Collateral is accorded treatment substantially equal to that which it accords its own
property.

 

(b) Anything contained herein to the contrary
notwithstanding, the US Administrative Agent may from time to time, when the US Administrative Agent deems it to be necessary,
appoint one or more subagents (each a “Subagent”) for the US Administrative Agent hereunder with respect
to all or any part of the Collateral. In the event that the US Administrative Agent so appoints any Subagent with respect to any
Collateral, (i) the assignment and pledge of such Collateral and the security interest granted in such Collateral by each US Grantor
hereunder shall be deemed for purposes of this Agreement to have been made to such Subagent, in addition to the US Administrative
Agent, for the ratable benefit of the US Secured Parties, as security for the Secured Obligations of such US Grantor, (ii) such
Subagent shall automatically be vested, in addition to the US Administrative Agent, with all rights, powers, privileges, interests
and remedies of the US Administrative Agent hereunder with respect to such Collateral, and (iii) the term “US Administrative
Agent,” when used herein in relation to any rights, powers, privileges, interests and remedies of the US Administrative Agent
with respect to such Collateral, shall include such Subagent; provided, however, that no such Subagent shall be authorized
to take any action with respect to any such Collateral unless and except to the extent expressly authorized in writing by the US
Administrative Agent.

 

Section 22. Remedies. Subject to the
Intercreditor Agreement, if any Event of Default shall have occurred and be continuing:

 

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(a) The US Administrative Agent
may exercise in respect of the Collateral, in addition to other rights and remedies provided for herein or otherwise available
to it, all the rights and remedies of a secured party upon default under the UCC (whether or not the UCC applies to the affected
Collateral) and also may: (i) require each US Grantor to, and each US Grantor hereby agrees that it will at its expense and upon
request of the US Administrative Agent forthwith, assemble all or part of the Collateral as directed by the US Administrative Agent
and make it available to the US Administrative Agent at a place and time to be designated by the US Administrative Agent that is
reasonably convenient to both parties; (ii) without notice except as specified below, sell the Collateral or any part thereof in
one or more parcels at public or private sale, at any of the US Administrative Agent’s offices or elsewhere, for cash, on
credit or for future delivery, and upon such other terms as the US Administrative Agent may deem commercially reasonable; (iii)
occupy any premises owned or leased by any of the US Grantors where the Collateral or any part thereof is assembled or located
for a reasonable period in order to effectuate its rights and remedies hereunder or under law, without obligation to such US Grantor
in respect of such occupation; and (iv) exercise any and all rights and remedies of any of the US Grantors under or in connection
with the Collateral, or otherwise in respect of the Collateral, including, without limitation, (A) any and all rights of such US
Grantor to demand or otherwise require payment of any amount under, or performance of any provision of, the Receivables, the Related
Contracts and the other Collateral, (B) withdraw, or cause or direct the withdrawal, of all funds with respect to the Account Collateral
and (C) exercise all other rights and remedies with respect to the Receivables, the Related Contracts and the other Collateral,
including, without limitation, those set forth in Section 9-607 of the UCC. Each US Grantor agrees that, to the extent notice of
sale shall be required by law, at least ten days’ notice to such US Grantor of the time and place of any public sale or the
time after which any private sale is to be made shall constitute reasonable notification. The US Administrative Agent shall not
be obligated to make any sale of Collateral regardless of notice of sale having been given. The US Administrative Agent may adjourn
any public or private sale from time to time by announcement at the time and place fixed therefor, and such sale may, without further
notice, be made at the time and place to which it was so adjourned.

 

(b) Any cash held by or on behalf
of the US Administrative Agent and all cash proceeds received by or on behalf of the US Administrative Agent in respect of any
sale of, collection from, or other realization upon all or any part of the Collateral may, in the discretion of the US Administrative
Agent, be held by the US Administrative Agent as collateral for, and/or then or at any time thereafter applied (after payment of
any amounts payable to the US Administrative Agent pursuant to Section 23) in whole or in part by the US Administrative Agent for
the ratable benefit of the US Secured Parties against, all or any part of the Secured Obligations, in the manner described in Section
6.03 of the Credit Agreement.

 

(c) [Intentionally Omitted].

 

(d) After the occurrence and during
the continuance of any Event of Default, the US Administrative Agent may, without notice to any US Grantor except as required by
law and at any time or from time to time, charge, set off and otherwise apply all or any part of the Secured Obligations against
any funds held with respect to the Account Collateral or in any other deposit account.

 

    	 	23	Chemtura (Revolving Facility) US Security Agreement

    	 

    

 

(e) In the event of any sale or
other disposition of any of the Intellectual Property Collateral owned by any US Grantor, the goodwill symbolized by any Trademarks
subject to such sale or other disposition shall be included therein, and such US Grantor shall supply to the US Administrative
Agent or its designee such US Grantor’s know-how and expertise, and documents and things relating to any such Intellectual
Property Collateral subject to such sale or other disposition, and such US Grantor’s customer lists and other records and
documents relating to such Intellectual Property Collateral and to the manufacture, distribution, advertising and sale of products
and services of such US Grantor.

 

(f) Upon the occurrence and during
the continuance of any Event of Default, for the purpose of enabling the US Administrative Agent to exercise rights and remedies
under this Section 22, each US Grantor hereby grants to the US Administrative Agent an irrevocable, non-exclusive license (exercisable
without payment of royalty or other compensation to such US Grantor), subject, in the case of Trademarks, to reasonable rights
of such US Grantor to quality control and inspection to avoid the risk of invalidation of the applicable Trademarks, to assign,
use, license or sublicense any of the Intellectual Property Collateral now owned or hereafter developed, created, or acquired by
such US Grantor, wherever the same may be located, subject to any restrictions contained in any IP Agreements. The foregoing license
includes access to all media in which any of the licensed items may be recorded or stored and to all computer programs used for
the compilation or printout thereof.

 

Section 23. Indemnity and Expenses.
(a) Each US Grantor agrees, to the fullest extent permitted by law, to indemnify and hold harmless each US Secured Party and each
of their Affiliates and their respective officers, directors, employees, agents and advisors (each, an “Indemnified
Party”) from and against, and shall pay within ten (10) Business Days of written demand, any and all claims, damages,
losses, liabilities and reasonable out-of-pocket expenses (including, without limitation, reasonable fees and expenses of counsel)
that may be incurred by or asserted or awarded against any Indemnified Party, in each case arising out of or in connection with
or resulting from this Agreement (including, without limitation, enforcement of this Agreement), except to the extent such claim,
damage, loss, liability or expense is found in a final, non-appealable judgment by a court of competent jurisdiction to have resulted
from such Indemnified Party’s gross negligence or willful misconduct. This Section 23(a) shall not apply with respect to
Taxes, other than Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim.

 

(b) Each US Grantor will upon demand pay to
the US Administrative Agent the amount of any and all reasonable and documented out-of-pocket expenses, including, without limitation,
the reasonable fees and expenses of its counsel and of any experts and agents, that the US Administrative Agent may incur in connection
with (i) the administration of this Agreement, (ii) the custody, preservation, use or operation of, or the sale of, collection
from or other realization upon, any of the Collateral of such US Grantor, (iii) the exercise or enforcement of any of the rights
of the US Administrative Agent or the other US Secured Parties hereunder or (iv) the failure by such US Grantor to perform or observe
any of the provisions hereof.

 

    	 	24	Chemtura (Revolving Facility) US Security Agreement

    	 

    

 

Section 24. Amendments; Waivers;
Additional US Grantors; Etc. (a) No amendment or waiver of any provision of this Agreement, and no consent to any
departure by any US Grantor herefrom, shall in any event be effective unless the same shall be in writing and signed by the
US Grantors and the US Administrative Agent, and then such waiver or consent shall be effective only in the specific instance
and for the specific purpose for which given. No failure on the part of the US Administrative Agent or any other US Secured
Party to exercise, and no delay in exercising any right hereunder, 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.

 

(b) Upon the execution and delivery by any
Person of a security agreement supplement in substantially the form of Exhibit C hereto (each a “Security Agreement
Supplement”), such Person shall be referred to as an “Additional US Grantor” and shall
be and become a US Grantor hereunder, and each reference in this Agreement and the other Loan Documents to “US Grantor”
shall also mean and be a reference to such Additional US Grantor, each reference in this Agreement and the other Loan Documents
to the “Collateral” shall also mean and be a reference to the Collateral granted by such Additional US Grantor and
each reference in this Agreement to a Schedule shall also mean and be a reference to the schedules attached to such Security Agreement
Supplement.

 

Section 25. Notices, Etc. All
notices and other communications provided for hereunder shall be either (i) in writing (including telegraphic, telecopier or
telex communication) and mailed, telegraphed, telecopied, telexed or otherwise delivered or (ii) by electronic mail (if
electronic mail addresses are designated as provided below) confirmed immediately in writing, in the case of the Company or
the US Administrative Agent, addressed to it at its address specified in the Credit Agreement and, in the case of each US
Grantor other than the Company, addressed to it at its address set forth opposite such US Grantor’s name on the
signature pages hereto or on the signature page to the Security Agreement Supplement pursuant to which it became a party
hereto; or, as to any party, at such other address as shall be designated by such party in a written notice to the other
parties. All such notices and other communications shall, when mailed, telecopied, sent by electronic mail or otherwise, be
effective when deposited in the mails, telecopied, sent by electronic mail and confirmed in writing, or otherwise delivered
(or confirmed by a signed receipt), respectively, addressed as aforesaid; except that notices and other communications to the
US Administrative Agent shall not be effective until received by the US Administrative Agent. Delivery by telecopier of an
executed counterpart of any amendment or waiver of any provision of this Agreement or of any Security Agreement Supplement or
Schedule hereto shall be effective as delivery of an original executed counterpart thereof.

 

    	 	25	Chemtura (Revolving Facility) US Security Agreement

    	 

    

 

Section 26. Continuing Security Interest;
Assignments under the Credit Agreement. This Agreement shall create a continuing security interest in the Collateral and shall
(a) remain in full force and effect until the latest of (i) the payment in full in cash of the Secured Obligations (other than
contingent indemnification obligations which are not then due and payable; provided that in the case of any such obligations
as to which the US Administrative Agent or any US Lender Party has made a claim which has not been satisfied, such obligations
have been cash collateralized in an amount sufficient in the reasonable judgment of the US Administrative Agent or such US Lender
Party to satisfy such claim), (ii) the termination or expiration of all US Letters of Credit and US Secured Cash Management Agreements
(or the date on which all US L/C Obligations shall have been Cash Collateralized and all obligations under US Secured Cash Management
Agreements shall have been cash collateralized in a manner reasonably satisfactory to each applicable US Cash Management Bank),
and (iii) the termination or expiration of all US Revolving Credit Commitments (including the termination or expiration of the
Borrowers’ rights under Section 2.19 of the Credit Agreement) (such latest event, the “Discharge”),
(b) be binding upon each US Grantor, its successors and assigns and (c) inure, together with the rights and remedies of the US
Administrative Agent hereunder, to the benefit of the US Secured Parties and their respective successors, transferees and assigns.
Without limiting the generality of the foregoing clause (c), any US Lender Party may assign or otherwise transfer all or any portion
of its rights and obligations under the Credit Agreement (including, without limitation, all or any portion of its US Revolving
Credit Commitment, the US Revolving Credit Advances owing to it and the Note or Notes, if any, held by it in respect of such US
Revolving Credit Advances) to any other Person, and such other Person shall thereupon become vested with all the benefits in respect
thereof granted to such US Lender Party herein or otherwise, in each case as provided in Section 10.07 of the Credit Agreement.

 

Section 27. Release; Termination. (a)
Upon any sale, lease, transfer or other disposition of any item of Collateral of any US Grantor in accordance with the terms of
the Loan Documents (other than sales of Inventory in the ordinary course of business), the US Administrative Agent will, at such
US Grantor’s expense, execute and deliver to such US Grantor such documents as such US Grantor shall reasonably request to
evidence the release of such item of Collateral from the assignment and security interest granted hereby; provided, however,
that (i) at the time of such request and such release no Default shall have occurred and be continuing, (ii) such US Grantor shall
have delivered to the US Administrative Agent, at least two (2) Business Days prior to the date of the proposed release, a written
request for release describing the item of Collateral and the terms of the sale, lease, transfer or other disposition in reasonable
detail, including, without limitation, the price thereof and any expenses in connection therewith, together with a form of release
for execution by the US Administrative Agent and a certificate of such US Grantor to the effect that the transaction is in compliance
with the Loan Documents and as to such other matters as the US Administrative Agent may request and (iii) each US Grantor shall
comply with Section 2.07 of the Credit Agreement with respect to any such sale, lease, transfer or other disposition.

 

(b) Upon the occurrence of the Discharge,
the pledge and security interest granted hereby shall terminate and all rights to the Collateral shall revert to the applicable
US Grantor. Upon any such termination, the US Administrative Agent will, at the US Grantors’ expense, execute and deliver
to US Grantors such documents as any US Grantor shall reasonably request to evidence such termination.

 

Section 28. Execution in Counterparts.
This Agreement may be executed in any number of 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. Delivery of an executed counterpart of a signature
page to this Agreement by telecopier or by electronic transmission (e.g. “.pdf” or “.tif”) shall be effective
as delivery of an original executed counterpart of this Agreement.

 

    	 	26	Chemtura (Revolving Facility) US Security Agreement

    	 

    

 

Section 29. Governing Law. This Agreement
shall be governed by, and construed in accordance with, the laws of the State of New York.

 

Section 30. Intercreditor Agreement.
Reference is made to the Intercreditor Agreement. Notwithstanding any other provision contained herein, this Agreement, the
Liens created hereby and the rights, remedies, duties and obligations provided for herein are subject in all respects to the provisions
of the Intercreditor Agreement and, to the extent provided therein, the applicable Senior Secured Obligations Security Documents.
In the event of any conflict or inconsistency between the provisions of this Agreement and the Intercreditor Agreement, the provisions
of the Intercreditor Agreement shall control.

 

Section 31. Amendment and Restatement.
This Agreement amends and restates the Existing Security Agreement in its entirety.

 

    	 	27	Chemtura (Revolving Facility) US Security Agreement

    	 

    

 

IN WITNESS WHEREOF, each US Grantor has caused
this Agreement to be duly executed and delivered by its officer thereunto duly authorized as of the date first above written.

 

	 	CHEMTURA CORPORATION
	 	 
	 	By	 
	 	 	Name:  Stephen C. Forsyth
	 	 	Title:  Executive Vice President and Chief Financial Officer

 

	Address for Notices:	BIO-LAB, INC.
	_199 Benson Rd.____________________	 	 
	_Middlebury, CT 06749_______________	 	 
	 	By	 
	 	 	Name:  Arthur Fullerton
	 	 	Title:  Vice President
	 	 	 
	Address for Notices:	CROMPTON COLORS INCORPORATED
	_199 Benson Rd.____________________	 	 
	_Middlebury, CT 06749_______________	 	 
	 	By	 
	 	 	Name:  Arthur Fullerton
	 	 	Title:  Vice President
	 	 	 
	Address for Notices:	GLCC LAUREL, LLC
	_199 Benson Rd.____________________	 	 
	_Middlebury, CT 06749_______________	 	 
	 	By	 
	 	 	Name:  Arthur Fullerton
	 	 	Title:  Secretary
	 	 	 
	Address for Notices:	GREAT LAKES CHEMICAL CORPORATION
	_199 Benson Rd.____________________	 	 
	_Middlebury, CT 06749_______________	 	 
	 	By	 
	 	 	Name:  Arthur Fullerton
	 	 	Title:  Vice President

 

    	 	[Signature Page]       	Chemtura (Revolving Facility) US Security Agreement

    	 

    

 

	Address for Notices:	HOMECARE LABS, INC.
	_199 Benson Rd.____________________	 	 
	_Middlebury, CT 06749_______________	 	 
	 	By	 
	 	 	Name:  Arthur Fullerton
	 	 	Title:  Vice President
	 	 
	Address for Notices:	RECREATIONAL WATER PRODUCTS, INC.
	_199 Benson Rd.____________________	 	 
	_Middlebury, CT 06749_______________	 	 
	 	By	 
	 	 	Name:  Arthur Fullerton
	 	 	Title:  Secretary

 

    	 	[Signature Page]       	Chemtura (Revolving Facility) US Security Agreement

    	 

    

 

Schedule I to the

Security Agreement

 

INVESTMENT PROPERTY

 

Part I

 

Initial Pledged Shares

 

	US 

Grantor	 	Issuer	 	Class of

Equity

Interest	 	Par Value	 	Certificate

No(s)	 	Number of 

Shares	 	Percentage 

of

 Outstanding

 Shares
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 

 

Part II

 

Initial Pledged Debt

 

	US 

Grantor	 	Debt

Issuer	 	Description 

of Debt	 	Debt 

Certificate

No(s)	 	Final

 Maturity	 	Outstanding 

Principal

Amount
	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 

 

Part III

 

Securities Accounts

 

	US Grantor	 	Type of Account	 	Name and

Address

of Bank	 	Account Number
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 

 

    	 	I-1	Chemtura (Revolving Facility) US Security Agreement

    	 

    

 

Part IV

 

Other Investment Property

 

	US 

Grantor	 	Issuer	 	Name of

 Investment	 	Certificate

No(s)	 	Amount	 	Other 

Identification
	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 

 

    	 	I-2	Chemtura (Revolving Facility) US Security Agreement

    	 

    

 

Schedule II to the

Security Agreement

 

INITIAL PLEDGED DEPOSIT ACCOUNTS

 

	US Grantor	 	Type of Account	 	Name and

Address

of Bank	 	Account Number
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 

 

    	 	II-1	Chemtura (Revolving Facility) US Security Agreement

    	 

    

 

Schedule III to the

Security Agreement

 

[INTENTIONALLY OMITTED]

 

    	 	III-1	Chemtura (Revolving Facility) US Security Agreement

    	 

    

 

Schedule IV to the

Security Agreement

 

INTELLECTUAL PROPERTY

 

I. Patents

 

	US 

Grantor	 	Patent

Titles	 	Country	 	Patent No.	 	Application 

No.	 	Filing Date	 	Issue Date
	 	 	 	 	 	 	 	 	 	 	 	 	 

 

II. Trademarks

 

	US 

Grantor	 	Mark	 	Country	 	Mark	 	Reg.

No.	 	Application

No.	 	Filing

Date	 	Reg.

Date
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

III. Trade Names

 

	US

Grantor	 	Names
	 	 	 

 

IV. Copyrights

 

	US Grantor	 	Title of

 Work	 	Country	 	Title	 	Reg.

No.	 	Filing

Date	 	Reg.

Date
	 	 	 	 	 	 	 	 	 	 	 	 	 

V. IP Agreements

 

    	 	IV-1	Chemtura (Revolving Facility) US Security Agreement

    	 

    

 

Schedule V to the

Security Agreement

 

COMMERCIAL TORT CLAIMS

 

[Describe nature of claim(s)-see Comment
5 to UCC Section 9-108]

 

    	 	V-1	Chemtura (Revolving Facility) US Security Agreement

    	 

    

 

Schedule VI to the

Security Agreement

 

LOCATION, CHIEF EXECUTIVE OFFICE, TYPE
OF ORGANIZATION, 

JURISDICTION OF ORGANIZATION AND ORGANIZATIONAL IDENTIFICATION NUMBER

 

	
        US
        Grantor
	 	
        Location
	 	
        Chief

        Executive

        Office
	 	
        Type
        of

        Organization
	 	
        Jurisdiction
        of

        Organization
	 	
        Organizational

        I.D. No.

	 	 	 	 	 	 	 	 	 	 	 

 

    	 	VI-1	Chemtura (Revolving Facility) US Security Agreement

    	 

    

 

Schedule VII to the

Security Agreement

 

CHANGES IN NAME, LOCATION, ETC.

 

    	 	VII-1	Chemtura (Revolving Facility) US Security Agreement

    	 

    

 

Schedule VIII to the

Security Agreement

 

[INTENTIONALLY OMITTED]

 

    	 	VIII-1	Chemtura (Revolving Facility) US Security Agreement

    	 

    

 

Schedule IX to the

Security Agreement

 

LETTERS OF CREDIT

 

	Beneficiary

(US 

Grantor)	 	Issuer	 	Nominated 

Person

(if any)	 	Account

Party	 	Number	 	Maximum

Available

Amount	 	Date
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 

 

    	 	IX-1	Chemtura (Revolving Facility) US Security Agreement

    	 

    

 

Exhibit A to the

Security Agreement

 

FORM OF AMENDED AND RESTATED SECOND LIEN
INTELLECTUAL 

PROPERTY SECURITY AGREEMENT

 

This AMENDED AND RESTATED SECOND LIEN INTELLECTUAL
PROPERTY SECURITY AGREEMENT dated as of December [ ], 2013 (as amended, amended and restated, supplemented or otherwise modified
from time to time, the “IP Security Agreement”), is made by the Persons listed on the signature pages
hereof (collectively, the “US Grantors”) in favor of BANK OF AMERICA, N.A., as US Administrative Agent
(the “US Administrative Agent”) for the US Secured Parties (as defined in the Credit Agreement
referred to below).

 

WHEREAS, Chemtura Corporation, a Delaware
corporation (the “Company”) and the Subsidiary Borrowers referred to therein (together with the Company,
the “Borrowers”) have entered into a Senior Secured Revolving Facilities Credit Agreement dated as of
November 10, 2010 (as amended and restated on December 4, 2013 and as further amended, amended and restated, supplemented or otherwise
modified from time to time, the “Credit Agreement”), with Bank of America, N.A., as US Administrative
Agent, and the Lender Parties and the other agents party thereto. Terms defined in the Credit Agreement and not otherwise defined
herein are used herein as defined in the Credit Agreement.

 

WHEREAS, as a condition precedent to the making
of Advances and the issuance of Letters of Credit by the Lender Parties under the Credit Agreement and the entry into Secured Cash
Management Agreements by the Cash Management Banks from time to time, each US Grantor has executed and delivered that certain Security
Agreement dated as of December 10, 2010 made by the US Grantors to the US Administrative Agent (as amended and restated on December
4, 2013 and as further amended, amended and restated, supplemented or otherwise modified from time to time, the “Security
Agreement”).

 

WHEREAS, under the terms of the Security Agreement,
the US Grantors have granted to the US Administrative Agent, for the ratable benefit of the US Secured Parties, a security interest
in, among other property, certain intellectual property of the US Grantors, and have agreed as a condition thereof to execute this
IP Security Agreement for recording with the U.S. Patent and Trademark Office, the United States Copyright Office and other governmental
authorities.

 

NOW, THEREFORE, for good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, each US Grantor agrees as follows:

 

SECTION 1. Grant of Security. Each
US Grantor hereby grants to the US Administrative Agent for the ratable benefit of the Secured Parties a security interest in all
of such US Grantor’s right, title and interest in and to the following (the “Collateral”):

 

(i)          all
patents and patent applications set forth in Schedule A hereto (the “Patents”);

 

    	 	A-1	Chemtura (Revolving Facility) US Security Agreement

    	 

    

 

(ii)         all
trademark and service mark registrations and applications set forth in Schedule B hereto (provided that no security interest shall
be granted in any United States intent-to-use trademark application for registration of a trademark filed pursuant to Section 1(b)
of the Lanham Act, 15 U.S.C. § 1051, prior to the filing of a “Statement of Use” pursuant to Section 1(d) of the
Lanham Act or an “Amendment to Allege Use” pursuant to Section 1(c) of the Lanham Act with respect thereto, solely
to the extent, if any, that, and solely during the period, if any, in which, the grant of a security interest therein would impair
the validity or enforceability or result in the voiding of such application or any registration that issues from such application
under applicable federal law), together, in each case, with the goodwill symbolized thereby (the “Trademarks”);

 

(iii)        all
copyright registrations and applications set forth in Schedule C hereto (the “Copyrights”);

 

(iv)        all
reissues, divisions, continuations, continuations-in-part, extensions, renewals and reexaminations of any of the foregoing, all
rights in the foregoing provided by international treaties or conventions and all rights corresponding thereto throughout the world
and all other rights of any kind whatsoever of such US Grantor accruing thereunder or pertaining thereto;

 

(v)         any
and all claims for damages and injunctive relief for past, present and future infringement, dilution, misappropriation, violation,
misuse or breach with respect to any of the foregoing, with the right, but not the obligation, to sue for and collect, or otherwise
recover, such damages; and

 

(vi)        any
and all proceeds of, collateral for, income, royalties and other payments now or hereafter due and payable with respect to, and
supporting obligations relating to any of the foregoing.

 

SECTION 2. Security for Obligations.
The grant of a security interest in the Collateral by each US Grantor under this IP Security Agreement secures the payment of all
US Obligations of each US Loan Party or Subsidiary of a US Loan Party now or hereafter existing under or in respect of the Loan
Documents (including, without limitation, the US Secured Cash Management Agreements), whether direct or indirect, absolute or contingent,
and whether for principal, reimbursement obligations, interest, premiums, penalties, fees, indemnifications, contract causes of
action, costs, expenses or otherwise. Without limiting the generality of the foregoing, this IP Security Agreement secures, as
to each US Grantor, the payment of all amounts that constitute part of the Secured Obligations and that would be owed by any US
Loan Party or Subsidiary of a US Loan Party to any US Secured Party under the Loan Documents but for the fact that such Secured
Obligations are unenforceable or not allowable due to the existence of a bankruptcy, reorganization or similar proceeding involving
a US Loan Party or Subsidiary of a US Loan Party.

 

SECTION 3. Recordation. Each US Grantor
authorizes and requests that the Register of Copyrights, the Commissioner for Patents and the Commissioner for Trademarks and any
other applicable government officer record this IP Security Agreement.

 

    	 	A-2	Chemtura (Revolving Facility) US Security Agreement

    	 

    

 

SECTION 4. Execution in Counterparts.
This IP Security Agreement may be executed in any number of 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.

 

SECTION 5. Grants, Rights and Remedies.
This IP Security Agreement has been entered into in conjunction with the provisions of the Security Agreement. Each US Grantor
does hereby acknowledge and confirm that the grant of the security interest hereunder to, and the rights and remedies of, the US
Administrative Agent with respect to the Collateral are more fully set forth in the Security Agreement. In the event of a conflict
between the provisions of this IP Security Agreement and the provisions of the Security Agreement, the provisions of the Security
Agreement shall control.

 

SECTION 6. Governing Law. This IP Security
Agreement shall be governed by, and construed in accordance with, the laws of the State of New York.

 

SECTION 7. Intercreditor Agreement.
Reference is made to the Intercreditor Agreement. Notwithstanding any other provision contained herein, this IP Security Agreement,
the Liens created hereby and the rights, remedies, duties and obligations provided for herein are subject in all respects to the
provisions of the Intercreditor Agreement and, to the extent provided therein, the applicable Senior Secured Obligations Security
Documents (as defined in the Intercreditor Agreement). In the event of any conflict or inconsistency between the provisions of
this IP Security Agreement and the Intercreditor Agreement, the provisions of the Intercreditor Agreement shall control.

 

    	 	A-3	Chemtura (Revolving Facility) US Security Agreement

    	 

    

 

IN WITNESS WHEREOF, each US Grantor has caused
this IP Security Agreement to be duly executed and delivered by its officer thereunto duly authorized as of the date first above
written.

 

	 	CHEMTURA CORPORATION
	 	 	 
	 	By	 
	 	 	Name:
	 	 	Title:
	 	 	 
	 	[NAME OF US GRANTOR]
	 	 	 
	 	By	 
	 	 	Name:
	 	 	Title:
	 	 	 
	 	[NAME OF US GRANTOR]
	 	 	 
	 	By	 
	 	 	Name:
	 	 	Title:

 

    	 	A-4	Chemtura (Revolving Facility) US Security Agreement

    	 

    

 

Exhibit B to the

Security Agreement

 

FORM OF SECOND LIEN INTELLECTUAL PROPERTY
SECURITY AGREEMENT SUPPLEMENT

 

This SECOND LIEN INTELLECTUAL PROPERTY SECURITY
AGREEMENT SUPPLEMENT (this “IP Security Agreement Supplement”) dated as of __________, 201_, is made
by the Person listed on the signature page hereof (the “US Grantor”) in favor of Bank of America, N.A.,
as US Administrative Agent (the “US Administrative Agent”) for the US Secured Parties (as
defined in the Credit Agreement referred to below).

 

WHEREAS, Chemtura Corporation, a Delaware
corporation (the “Company”) and the Subsidiary Borrowers referred to therein (together with the Company,
the “Borrowers”) have entered into a Senior Secured Revolving Facilities Credit Agreement dated as of
November 10, 2010 (as amended and restated on December 4, 2013 and as further amended, amended and restated, supplemented or otherwise
modified from time to time, the “Credit Agreement”), with Bank of America, N.A., as US administrative
agent, and the Lender Parties and the other agents party thereto. Terms defined in the Credit Agreement and not otherwise defined
herein are used herein as defined in the Credit Agreement.

 

WHEREAS, pursuant to the Credit Agreement,
the US Grantor and certain other Persons have executed and delivered that certain Security Agreement dated November 10, 2010 made
by the US Grantor and such other Persons to the US Administrative Agent (as amended and restated on December 4, 2013 and as further
amended, amended and restated, supplemented or otherwise modified from time to time, the “Security Agreement”)
and that certain Amended and Restated Second Lien Intellectual Property Security Agreement dated as of December [ ], 2013 (as amended,
amended and restated, supplemented or otherwise modified from time to time, the “IP Security Agreement”).

 

WHEREAS, under the terms of the Security Agreement,
the US Grantor has granted to the US Administrative Agent, for the ratable benefit of the US Secured Parties, a security interest
in the Additional Collateral (as defined in Section 1 below) of the US Grantor and has agreed as a condition thereof to execute
this IP Security Agreement Supplement for recording with the U.S. Patent and Trademark Office, the United States Copyright Office
and other governmental authorities.

 

NOW, THEREFORE, for good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the US Grantor agrees as follows:

 

SECTION 1. Grant of Security. Each
US Grantor hereby grants to the US Administrative Agent, for the ratable benefit of the US Secured Parties, a security interest
in all of such US Grantor’s right, title and interest in and to the following (the “Additional Collateral”):

 

(i)          all
patents and patent applications set forth in Schedule A hereto (the “Patents”);

 

    	 	B-1	Chemtura (Revolving Facility) US Security Agreement

    	 

    

 

(ii)         all
trademark and service mark registrations and applications set forth in Schedule B hereto (provided that no security interest shall
be granted in any United States intent-to-use trademark application for registration of a trademark filed pursuant to Section 1(b)
of the Lanham Act, 15 U.S.C. § 1051, prior to the filing of a “Statement of Use” pursuant to Section 1(d) of the
Lanham Act or an “Amendment to Allege Use” pursuant to Section 1(c) of the Lanham Act with respect thereto, solely
to the extent, if any, that, and solely during the period, if any, in which, the grant of a security interest therein would impair
the validity or enforceability or result in the voiding of such application or any registration that issues from such application
under applicable federal law), together, in each case, with the goodwill symbolized thereby (the “Trademarks”);

 

(iii)        all
copyright registrations and applications set forth in Schedule C hereto (the “Copyrights”);

 

(iv)        all
reissues, divisions, continuations, continuations-in-part, extensions, renewals and reexaminations of any of the foregoing, all
rights in the foregoing provided by international treaties or conventions, and all rights corresponding thereto throughout the
world and all other rights of any kind whatsoever of such US Grantor accruing thereunder or pertaining thereto;

 

(v)         all
any and all claims for damages and injunctive relief for past, present and future infringement, dilution, misappropriation, violation,
misuse or breach with respect to any of the foregoing, with the right, but not the obligation, to sue for and collect, or otherwise
recover, such damages; and

 

(vi)        any
and all proceeds of, collateral for, income, royalties and other payments now or hereafter due and payable with respect to, and
supporting obligations relating to, any and all of the foregoing or arising from any of the foregoing.

 

SECTION 2. Security for Obligations.
The grant of a security interest in the Additional Collateral by the US Grantor under this IP Security Agreement Supplement secures
the payment of all US Obligations of each US Loan Party and Subsidiary of a US Loan Party now or hereafter existing under or in
respect of the Loan Documents (including, without limitation, the US Secured Cash Management Agreements), whether direct or indirect,
absolute or contingent, and whether for principal, reimbursement obligations, interest, premiums, penalties, fees, indemnifications,
contract causes of action, costs, expenses or otherwise. Without limiting the generality of the foregoing, this IP Security Agreement
Supplement and the IP Security Agreement secures the payment of all amounts that constitute part of the Secured Obligations and
that would be owed by a US Loan Party or Subsidiary of a US Loan Party to any US Secured Party under the Loan Documents but for
the fact that such Secured Obligations are unenforceable or not allowable due to the existence of a bankruptcy, reorganization
or similar proceeding involving a US Loan Party or Subsidiary of a US Loan Party.

 

SECTION 3. Recordation. The US Grantor
authorizes and requests that the Register of Copyrights, the Commissioner for Patents and the Commissioner for Trademarks and any
other applicable government officer to record this IP Security Agreement Supplement.

 

    	 	B-2	Chemtura (Revolving Facility) US Security Agreement

    	 

    

 

SECTION 4. Grants, Rights and Remedies.
This IP Security Agreement Supplement has been entered into in conjunction with the provisions of the Security Agreement. The US
Grantor does hereby acknowledge and confirm that the grant of the security interest hereunder to, and the rights and remedies of,
the US Administrative Agent with respect to the Additional Collateral are more fully set forth in the Security Agreement. In the
event of a conflict between the provisions of this IP Security Agreement Supplement and the provisions of the Security Agreement,
the provisions of the Security Agreement shall control.

 

SECTION 5. Governing Law. This IP Security
Agreement Supplement shall be governed by, and construed in accordance with, the laws of the State of New York.

 

SECTION 6. Intercreditor Agreement.
Reference is made to the Intercreditor Agreement. Notwithstanding any other provision contained herein, this IP Security Agreement
Supplement, the Liens created hereby and the rights, remedies, duties and obligations provided for herein are subject in all respects
to the provisions of the Intercreditor Agreement and, to the extent provided therein, the applicable Senior Secured Obligations
Security Documents (as defined in the Intercreditor Agreement). In the event of any conflict or inconsistency between the provisions
of this IP Security Agreement Supplement and the Intercreditor Agreement, the provisions of the Intercreditor Agreement shall control.

 

    	 	B-3	Chemtura (Revolving Facility) US Security Agreement

    	 

    

 

IN WITNESS WHEREOF, the US Grantor has caused
this IP Security Agreement Supplement to be duly executed and delivered by its officer thereunto duly authorized as of the date
first above written.

 

	 	[NAME OF US GRANTOR]
	 	 	 
	 	By	 
	 	 	Name:
	 	 	Title:

 

    	 	B-4	Chemtura (Revolving Facility) US Security Agreement

    	 

    

 

Exhibit C to the

Security Agreement

 

FORM OF SECURITY AGREEMENT SUPPLEMENT

 

[Date of Security Agreement Supplement]

 

Bank of America, N.A., as the US Administrative Agent for

the US Secured Parties referred to in the

Credit Agreement referred to below

__________

__________

Attn: __________

 

Ladies and Gentlemen:

 

Reference is made to (i) the Senior Secured
Revolving Facilities Credit Agreement dated as of November 10, 2010 (as amended and restated on December 4, 2013 and as further
amended, amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”),
among Chemtura Corporation, a Delaware corporation (the “Company”) and the Subsidiary Borrowers referred
to therein (together with the Company, the “Borrowers”), the Lender Parties and the other Agents party
thereto, and Bank of America, N.A., as US administrative agent (together with any successor administrative agent appointed pursuant
to Article VII of the Credit Agreement, the “US Administrative Agent”), and (ii) the Security Agreement
dated as of November 10, 2010 (as amended and restated on December 4, 2013 and as further amended, amended and restated, supplemented
or otherwise modified from time to time, the “Security Agreement”) made by the US Grantors from time
to time party thereto in favor of the US Administrative Agent for the US Secured Parties. Terms defined in the Credit Agreement
or the Security Agreement and not otherwise defined herein are used herein as defined in the Credit Agreement or the Security Agreement.

 

SECTION 1. Grant of Security. The undersigned
hereby grants to the US Administrative Agent, for the ratable benefit of the US Secured Parties, a security interest in all of
its right, title and interest in and to the following, in each case whether now owned or hereafter acquired by the undersigned,
wherever located and whether now or hereafter existing or arising (collectively, the undersigned’s “Collateral”):
all Equipment, Inventory, General Intangibles, Goods, Receivables, Related Contracts, Security Collateral (including, without limitation,
the shares of stock and other Equity Interests set forth on Part I of Schedule I hereto, the indebtedness set forth on Part II
of Schedule I hereto and the securities accounts set forth on Part III of Schedule I hereto and deposit accounts set forth on Schedule
II hereto), Account Collateral, Intellectual Property Collateral, Commercial Tort Claims Collateral (including, without limitation,
the commercial tort claims described in Schedule V hereto), all books and records (including, without limitation, customer lists,
credit files, printouts and other computer output materials and records) of the undersigned pertaining to any of the undersigned’s
Collateral, and all proceeds of, collateral for, income, royalties and other payments now or hereafter due and payable with respect
to, and supporting obligations relating to, any and all of the undersigned’s Collateral (including, without limitation, proceeds,
collateral and supporting obligations that constitute property of the types described in this Section 1) and, to the extent not
otherwise included, all (A) payments under insurance otherwise payable to the US Administrative Agent based on the terms hereof
and the Credit Agreement, or any indemnity, warranty or guaranty, payable by reason of loss or damage to or otherwise with respect
to any of the foregoing Collateral, and (B) cash.

 

    	 	C-1	Chemtura (Revolving Facility) US Security Agreement

    	 

    

 

SECTION 2. Security for Obligations.
The grant of a security interest in, the Collateral by the undersigned under this Security Agreement Supplement and the Security
Agreement secures the payment of all US Obligations of each US Loan Party or Subsidiary of a US Loan Party now or hereafter existing
under or in respect of the Loan Documents (including, without limitation, the US Secured Cash Management Agreements), whether direct
or indirect, absolute or contingent, and whether for principal, reimbursement obligations, interest, premiums, penalties, fees,
indemnifications, contract causes of action, costs, expenses or otherwise. Without limiting the generality of the foregoing, this
Security Agreement Supplement and the Security Agreement secures the payment of all amounts that constitute part of the Secured
Obligations and that would be owed by a US Loan Party or Subsidiary of a US Loan Party to any US Secured Party under the Loan Documents
but for the fact that such Secured Obligations are unenforceable or not allowable due to the existence of a bankruptcy, reorganization
or similar proceeding involving a US Loan Party or Subsidiary of a US Loan Party.

 

SECTION 3. Representations and Warranties.
(a) The undersigned’s exact legal name, location, chief executive office, type of organization, jurisdiction of organization
and organizational identification number is set forth in Schedule VI hereto. Within the five years preceding the date hereof, the
undersigned has not changed its name, location, chief executive office, type of organization, jurisdiction of organization or organizational
identification number from those set forth in Schedule VI hereto except as set forth in Schedule VII hereto.

 

(b) The undersigned is not a beneficiary or
assignee under any letter of credit, other than the letters of credit described in Schedule IX hereto.

 

(c) The undersigned hereby makes each other
representation and warranty set forth in Section 8 of the Security Agreement with respect to itself and the Collateral granted
by it.

 

SECTION 4. Obligations Under the Security
Agreement. The undersigned hereby agrees, as of the date first above written, to be bound as a US Grantor by all of the terms
and provisions of the Security Agreement to the same extent as each of the other US Grantors. The undersigned further agrees, as
of the date first above written, that each reference in the Security Agreement to an “Additional US Grantor” or a “US
Grantor” shall also mean and be a reference to the undersigned, that each reference to the “Collateral” or any
part thereof shall also mean and be a reference to the undersigned’s Collateral or part thereof, as the case may be, and
that each reference in the Security Agreement to a Schedule shall also mean and be a reference to the schedules attached hereto.

 

    	 	C-2	Chemtura (Revolving Facility) US Security Agreement

    	 

    

 

SECTION 5. Governing Law. This Security
Agreement Supplement shall be governed by, and construed in accordance with, the laws of the State of New York.

 

SECTION 6. Intercreditor Agreement.
Reference is made to the Intercreditor Agreement. Notwithstanding any other provision contained herein, this Security Agreement
Supplement, the Liens created hereby and the rights, remedies, duties and obligations provided for herein are subject in all respects
to the provisions of the Intercreditor Agreement and, to the extent provided therein, the applicable Senior Secured Obligations
Security Documents (as defined in the Intercreditor Agreement). In the event of any conflict or inconsistency between the provisions
of this Security Agreement Supplement and the Intercreditor Agreement, the provisions of the Intercreditor Agreement shall control.

 

	 	 	Very truly yours,
	 	 	 
	 	[NAME OF ADDITIONAL US GRANTOR]
	 	 	 
	 	By	 
	 	 	Title:

 

	 	Address for notices:
	 	 
	 	 
	 	 

 

    	 	C-3	Chemtura (Revolving Facility) US Security Agreement

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