Document:

EX 10.1 Global Supply Agreement

Exhibit 10.1

MATERIAL NOTED WITH [**] IS CONFIDENTIAL AND
HAS BEEN DELETED PURSUANT TO A REQUEST FOR
CONFIDENTIAL TREATMENT, AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION

GLOBAL SUPPLY AGREEMENT

This Global Supply Agreement ("Agreement" or “Contract”) is between ExxonMobil Chemical Company ("Seller"), on behalf of itself and the ExxonMobil affiliates listed on Attachment B (each an "ExxonMobil Selling Affiliate" or “EMCC/A” or collectively, "ExxonMobil Selling Affiliates"), and West Pharmaceutical Services, Inc. ("Buyer"), on behalf of itself and the Buyer affiliates listed on Attachment C (each a "Buyer Affiliate" or “West/A” or collectively, "Buyer Affiliates").

PRODUCTS, QUANTITY, PRICE

In accordance with the provisions of this Agreement, ExxonMobil Selling Affiliates agree to sell to Buyer Affiliates, and Buyer Affiliates agree to purchase from ExxonMobil Selling Affiliates, the following product(s) (collectively, "Product"):

    
	
				
	Products
	Quantity
(Metric Tons/Yr.)
	Container
Package
	List Price(s)
Per Metric Ton

	[**]
	[**]
	Metal, Wood (Export)
	[**]

	[**]
	[**]
	Wood (Export Crate)
	[**]

Subject to this Agreement's terms and conditions, Buyer Affiliates shall purchase and ExxonMobil Selling Affiliates shall sell the yearly minimum amount of Product amounts (in the aggregate) listed above.  Buyer or Buyer Affiliates may request to purchase amounts over the Product maximum amounts per year, however, it shall be solely within Seller or any ExxonMobil Selling Affiliate’s discretion whether to accommodate Buyer’s request.

Buyer Affiliates shall issue a purchase order(s), or call off order(s) when purchasing Product from ExxonMobil Selling Affiliates in writing pursuant to this Contract ("Purchase Order").  Such Purchase Order(s) shall specify (a) the quantity of Product, and (b) general date of delivery.  All Purchase Orders agreed to be filled by an ExxonMobil Selling affiliate shall be deemed to be a separate agreement between the relevant ExxonMobil Selling Affiliate and the relevant Buyer Affiliate, incorporating the terms of this Contract. ExxonMobil and the ExxonMobil Selling Affiliates shall not unreasonably reject any purchase order that otherwise complies with the terms of this Agreement.  

Purchase Order(s), order acknowledgements and similar form documents evidencing the purchase or sale of Products, including any terms and conditions contained or referenced therein, shall not supersede, add to or amend in any way this Contract.  In the event of any conflict between the terms of this Contract and the terms of any Purchase Order, order acknowledgement or similar document the terms of this Contract shall prevail.

[**]

PRICING

Product prices to Buyer/Buyer Affiliates and the prices from which all discounts will be calculated will be the Seller/ExxonMobil Selling Affiliates' list price then in effect for the particular Product ("Base Prices"), subject to the following provisions.  The price of Products sold by Seller/ExxonMobil Selling Affiliates to Buyer/Buyer Affiliates will comprise the Base Price, the discounts listed below, and are subject to fluctuations due to the cost of energy based on the Brent crude oil price increases or decreases as described below.

DISCOUNTS

[**]

Buyer Affiliates shall pay ExxonMobil’s Selling Affiliates invoice(s) not later than the days set forth in Attachment E hereto.  All invoices shall be paid in full by wire transfer in accordance with the invoice’s instructions.

TITLE AND RISK OF LOSS - EXXONMOBIL CHEMICAL COMPANY

Title to the Product(s) to be sold and delivered hereunder will transfer simultaneously with the risks upon delivery as per the applicable Incoterm (Incoterms 2010) in Attachment E with the exception of the following:
		
	•
	For Product sold by ExxonMobil Chemical Company or ExxonMobil Chemical Services Americas, Inc. that is transported by land to Mexico or Canada, title and risk of loss of Product shall transfer from ExxonMobil Chemical Company or ExxonMobil Chemical Services Americas, Inc. to the applicable West/A at the frontier between the United States of America and Mexico or Canada, as applicable, but prior to the customs border of the applicable foreign jurisdiction. 

AGREEMENT - CRUDE PRICE ADJUSTMENTS
Product price(s) shall be subject to the Average Brent crude oil price evolution (as further detailed below) in order to reflect the cost of energy. Should the Average Brent crude oil price at any moment during the term of this Agreement move to a different Average Brent crude oil price bracket as mentioned below, Seller/ExxonMobil Selling Affiliates may increase or decrease the Product price by [**] for every [**] change in the Average Brent crude oil price. In no event shall the Product price’s increase or decrease exceed [**] for every [**] change in the Average Brent crude oil price brackets. Each Average Brent crude oil bracket is calculated on a $5 range basis (e.g., $30-$35, $40-$45, $50-$55, etc.). 

The Average Brent crude oil price evolution shall be expressed as the three-month average spot price per barrel of the Brent crude oil (as per the Wall Street Journal). This average shall be calculated as the average of the prices for the immediate preceding three consecutive calendar months, with each month's price calculated as the average of the daily prices. 

Any conversion between United States Dollars and Euros will be carried out by using the average of the European Central Bank’s daily foreign exchange rate as published in Reuter's screen ECB 37 for the period in question.

Any Product price adjustment shall take effect the month immediately following ExxonMobil Selling Affiliates’ notification of an increase or decrease in Product price.

LOCATIONS OF SUPPLY

Buyer/Buyer Affiliates that may purchase Product from ExxonMobil Selling Affiliates are listed in Attachment C.  Other products and locations may be added upon mutual agreement in writing.
Any and all sales of Product between ExxonMobil Chemical Company and/or ExxonMobil Chemical Services Americas, Inc. and Buyer Affiliates in the U.S., Mexico and Brazil shall be subject to the terms and conditions set forth in Attachment A hereto.

Any and all sales of Product between ExxonMobil Petroleum & Chemical and Buyer Affiliates in France, Germany, Denmark, Serbia and the United Kingdom shall be subject to the terms and conditions set forth in Attachment H hereto.

Any and all sales of Product between ExxonMobil Chemical Asia Pacific and Buyer Affiliates in Singapore, China and India shall be subject to the terms and conditions set forth in Attachment G hereto.

Buyer/Buyer Affiliates are responsible for the Product and returnable crates in their custody at the sales value of the Product and the replacement value of the metal crates, respectively.  The terms relating to the use and return of metal crates are set out in Attachment F.

AFFILIATES

ExxonMobil Selling Affiliates participating in this Agreement are listed in Attachment B.  Buyer Affiliates participating in this Agreement are listed in Attachment C.  Seller and Buyer each represent and warrant that each will cause its respective affiliates, so listed, to become bound to the terms of this Agreement.

QUALITY

Product shall conform to ExxonMobil Selling Affiliates' standard sales specifications as of the date of shipment.  

AGREEMENT PERIOD

Effective Date:         January 1, 2014

Termination Date:     December 31, 2018

PAYMENT TERMS

Buyer/Buyer Affiliates shall pay for Product by Electronic Funds Transfer (EFT) through the Automated Clearing House (ACH) using the Corporate Trade Exchange (CTX) format, according to the payment terms described in Attachment E.

TECHNICAL SUPPORT

EMCC/A will provide technical expertise in the use of Products and will use its technical centers to enhance technical communications with West Pharmaceutical Services Affiliates technical centers.  West/A will share its needs with EMCC/A and how they relate to West/A activities to help guide ExxonMobil Chemical Affiliates technical efforts.

CHANGE CONTROL

Changes to the manufacturing process are carefully controlled and are subject to review and formal approval by EMCC/A or other affiliates of Exxon Mobil Corporation prior to implementation.  Buyer will be informed at least six months in advance of any change determined by EMCC/A to result in a significant change to the chemical composition or performance of the product.

[**]

CREDIT

If Seller/ExxonMobil Selling Affiliates' has reasonable grounds for insecurity with respect to the financial responsibility of Buyer/Buyer Affiliates, Seller/ExxonMobil Selling Affiliates may require advance cash payment or satisfactory security and may withhold Product shipments until receipt of such payment or security.  Such action by Seller/ExxonMobil Selling Affiliates shall not constitute a change of payment terms hereunder.  If amounts due hereunder are placed with an outside agency for collection, or if suit is brought for collection, or if collected through probate, bankruptcy or other judicial proceedings, then Buyer/Buyer Affiliates shall pay all costs of collection, including attorneys' fees, in addition to all other amounts due.
    
SET-OFF AND RECOVERY

With respect to any monetary amounts and/or product-exchange delivery imbalances due from Buyer/Buyer Affiliates to Seller/ExxonMobil Selling Affiliates, Seller/ExxonMobil Selling Affiliates may (i) set-off such monetary amounts and/or product-exchange delivery imbalances against any monetary amounts and/or product-exchange delivery imbalances owing to Buyer/Buyer Affiliates; and/or (ii) recoup such monetary amounts and/or product-exchange delivery imbalances from any amounts paid and/or deliveries made to Buyer/Buyer Affiliates by Seller/ExxonMobil Selling Affiliates.  For purposes hereof, any and all agreements between Buyer and Seller, whether written or oral, shall be deemed to be part of an integrated agreement set forth herein.

ECONOMIC CONDITIONS AND TRENDS CLAUSE 

It is understood and agreed that the basis for this Agreement is an extraordinary level of mutual trust and confidence between the parties, not only in matters of price, quality, and service relating to the quantities of Product purchased and sold hereunder, but also with respect to the accommodation of changes that may develop in the business environment or the pursuit of such mutual undertakings as may benefit either or both of the parties to this Agreement.  Moreover, the terms relating to quantity and price presume the continuation of economic conditions and trends now prevailing, including but not limited to levels of industrial production, tire demand, labor rates, energy costs, and foreign exchange relationships.  In the event that, in the view of either party, a significant change of any kind does occur which materially and significantly alters the value received by either party in this transaction, that party may, upon written notice of its election and reasons therefor, request that this Agreement be renegotiated and the other party will be obligated to enter into the renegotiation unless the request is formally withdrawn.  Neither party shall unreasonably request such renegotiation.

FAILURE IN PERFORMANCE 

No liability shall result to either party from delay in performance or non-performance) in whole or in part caused by circumstances reasonably beyond the control of the party affected, including but not limited to, acts of God, terrorist activity, transportation failure, breakdowns, equipment failure, shortage or inability to obtain Product or raw material for Product, or good-faith compliance with any governmental order or request (whether valid or invalid).  Regardless, however, of the occurrence or nonoccurrence of any such circumstances, if, supplies of Product, or feedstock for making Product, from any of Seller’s/ExxonMobil Selling Affiliates’ existing sources are curtailed or are inadequate to meet Seller’s/ExxonMobil Selling Affiliates’ own requirements and/or its obligations to its customers, Seller’s/ExxonMobil Selling Affiliates’ obligation to deliver Product during such period shall be reduced to the extent necessary, in Seller’s/ExxonMobil Selling Affiliates’ reasonable judgment, to apportion fairly among Seller’s/ExxonMobil Selling Affiliates’ own requirements and its customers such Product as received and as may be available in the ordinary and usual course of Seller’s/ExxonMobil Selling Affiliates’ business from any existing sources of supply at the location(s) from which deliveries like those covered hereby are normally shipped.  Seller/ExxonMobil Selling Affiliates shall not be obligated to purchase or obtain Product, or feedstock to make Product, to replace deliveries omitted or curtailed under this paragraph.  

CHANGE IN CIRCUMSTANCES

In connection with any Change in Circumstances (as defined below), and without limiting Seller's/ExxonMobil Selling Affiliate’s other rights under this Agreement or applicable law, Seller /ExxonMobil Selling Affiliates shall have the right: (i) to modify the payment terms hereunder; and/or (ii) to require that Buyer/Buyer Affiliates pay in advance for shipments hereunder.

Promptly after any public announcement regarding any proposed transaction that would result in a Change in Circumstances, Buyer/Buyer Affiliates shall notify Seller/ExxonMobil Selling Affiliates, in writing, of the nature of such transaction, the parties thereto and the proposed date of consummation.  If Seller/ExxonMobil Selling Affiliates elects to exercise any of its rights under the preceding paragraph, Seller/ExxonMobil Selling Affiliates shall so notify Buyer/Buyer Affiliates, in writing, within forty-five (45) days after receipt of Buyer’s/Buyer Affiliates’ notice.

As used above, "Change in Circumstances" means any of the following: (i) any transaction, or series of transactions, that would result in the transfer of at least twenty-five percent (25%) of the equity interest in Buyer/Buyer Affiliates (or of at least twenty-five percent (25%) of the equity interest in any business entity that owns or controls, directly or indirectly, at least fifty percent (50%) of the equity interest in Buyer/Buyer Affiliates ("Buyer's Parent")) to a single transferee or multiple transferees under common control; (ii) any transaction that would result in Buyer's /Buyer Affiliates’ (or Buyer's Parent's) merging with one or more other entities; or (iii) any transaction not in the ordinary course of Buyer's /Buyer Affiliates (or Buyer's Parent's) business that calls for the sale, purchase or other transfer of one or more significant assets, including (without limitation) manufacturing facilities and ownership interests in other business entities.

TERMS AND CONDITIONS

The following attachments are made part of this Agreement:

Attachment A - General Terms and Conditions of Sale
Attachment B - List of ExxonMobil Affiliates/Divisions
Attachment C - List of West Pharmaceutical Services Affiliates
Attachment D - Notices
Attachment E - Payment Terms
Attachment F - Returnable Metal Crates
Attachment G - ExxonMobil Chemical Asia Pacific - Terms & Conditions
Attachment H - ExxonMobil Chemical Petroleum & Chemical BVBA - Terms & Conditions.

GOVERNING LAW

This Agreement shall be governed and construed in accordance with the law set forth in the ExxonMobil Selling Affiliate’s general terms and conditions, as applicable.

BINDING EFFECT

Seller shall not be obligated by this Agreement unless Buyer executes and returns this Agreement to Seller no later than thirty (30) days from the date Seller signs below.

ENTIRE AGREEMENT

This Agreement and its attachments constitute the complete and exclusive statement of the terms of agreement between Seller and Buyer and supersede any and all agreements, representations and understandings, oral and written, made prior to signing and relating to the subject matter of this Agreement.  In no event shall either party be responsible for any special, punitive, or consequential damages whatsoever.

No modification of this Agreement shall be of any force or effect unless such modification is in writing, expressly designated as an amendment hereto and signed by the parties' duly authorized representatives; and no modification shall be effected by the acknowledgment or acceptance of purchase order forms containing terms or conditions at variance with those set forth herein.  

None of the parties shall be legally bound by anything contained in this instrument, or any negotiations pursuant thereto, unless and until the companies have agreed to all terms and this instrument has been signed by authorized representatives of each company.

ORDER OF PRECEDENCE

In the event of conflict between this Agreement and the Attachments hereto, this Agreement shall prevail, except with respect to the governing law specified in Attachments A, G, H, and I, respectively, and as applicable to the appropriate ExxonMobil Selling Affiliate.

	
			
	BUYER    
	 
	SELLER

	ACCEPTED AND AGREED TO BY BUYER
DATE OF:

	 
	ExxonMobil Chemical Company

	 
	 
	 

	7/31/14
	 
	8/11/14

	 
	 
	 

	/s/ Donald E. Morel, Jr.
	 
	/s/ John W. Lyon

	BY:  Donald E. Morel, Jr.
	 
	By:    John W. Lyon

	Title:  Chairman & CEO    
	 
	Title:   Vice President, Butyl Polymers

	 
	 
	 

	 
	 
	 

ATTACHMENT A
West Pharmaceutical Services and
ExxonMobil Chemical Company Global Supply Agreement, January 1, 2014

ExxonMobil Chemical Company
GENERAL TERMS AND CONDITIONS OF SALE

1. ACCEPTANCE
Acceptance by the named seller (“Seller”) of the transactions(S) specified on page 1 hereof is EXPRESSLY MADE CONDITIONAL UPON BUYER’S ASSENT TO THESE TERMS AND CONDITIONS.  Page 1 hereof and these General Terms and Conditions constitute the only binding contract terms and conditions between the parties in the absence of a written agreement as described in Paragraph 2.

2. WRITTEN AGREEMENT
If there is an executed written contract in effect between Buyer and Seller covering the transaction(s) specified herein, the terms and conditions of such executed written contract shall govern over any conflicting term on page 1 hereof and to the exclusion of these General Terms and Conditions.

3. PRICE AND QUANTITY; PRICE ADJUSTMENTS
Except as otherwise provided pursuant to Paragraph 2, and without regard to any course of dealing between the parties: (1) Seller shall not be obligated to sell or deliver any quantity of product(s) covered hereby ("Product") beyond the amount, if any, which in Seller's sole judgment, is available for such purpose as of the proposed date of shipment to Buyer; (2) the price of Product shall be Seller's price therefor as of the date of shipment; (3) Seller reserves the right to set minimums and/or premiums or to reject orders for unusual configurations, sizes and folds; (4) unless otherwise specified in the Agreement, an overrun or underrun of up to ten percent (10%) shall constitute due performance of any order; (5) any freight allowances shall be those specified by Seller as of the date of shipment; and (6) Buyer shall allow Seller a reasonable period for delivery of shipments of Product. 

4. PAYMENT
Unless otherwise specified in Attachment E of the Agreement, payment for Product shall be made in U.S. Dollars and shall be due, in good funds in Seller's account, no later than thirty (30) days after the date of shipment. With respect to any monetary obligations of Buyer or Buyer's affiliates owed to Seller, Seller may (i) set-off such obligations against any sums owing to Buyer or Buyer's affiliates; and/or (ii) recoup such obligation from any amounts paid to Buyer or Buyer's affiliates by Seller.

5. TAXES
Any tax (except income taxes), excise or other governmental charge that now or in the future may be imposed, increased or levied upon the production, value added, sale, transportation, storage, handling, delivery, use or disposal of Product sold hereunder which Seller may be required to pay, shall be paid by Buyer to Seller in addition to the purchase price. Buyer shall provide Seller, on request, with properly completed exemption certificates for any tax from which Buyer claims exemption.

6. CREDIT
If Seller has reasonable grounds for insecurity with respect to the financial responsibility of Buyer, Seller may require advance cash payment or satisfactory security and may withhold Product shipments until receipt of such payment or security. Such action by Seller shall not constitute a change of payment terms hereunder. If amounts due hereunder are placed with an outside agency for collection, or if suit is brought for collection, or if collected through probate, bankruptcy or other judicial proceedings, then Buyer shall pay all costs of collection, including attorneys' fees, in addition to other amounts due.

7. TITLE; RISK OF LOSS
Unless otherwise specified in the Agreement, title to Product and risk of loss shall pass to Buyer at Seller's facilities upon delivery to a carrier or into Buyer's transport.

8. LIMITED WARRANTY
THERE ARE NO WARRANTIES WHICH EXTEND BEYOND THE PRODUCT DESCRIPTION HEREIN, AND SELLER MAKES NO WARRANTY, EXPRESS OR IMPLIED, OF FITNESS FOR PARTICULAR USE, MERCHANTABILITY OR OTHERWISE WITH RESPECT TO PRODUCT, WHETHER USED SINGLY OR IN COMBINATION WITH OTHER SUBSTANCES OR IN ANY PROCESS, EXCEPT THAT PRODUCT SOLD HEREUNDER SHALL CONFORM TO SELLER'S THEN CURRENT STANDARD SALES SPECIFICATIONS AS PROVIDED TO BUYER. Without limiting the foregoing, Seller does not recommend nor endorse the use of Product(s) in any medical application and specifically disclaims any representation or warranty, express or implied, of suitability or fitness for use, or otherwise, with respect to Product(s)’ use in any medical application.  Buyer represents and warrants that no Product(s) purchased hereunder will be used in or resold into any commercial or developmental manner in connection with medical applications without Seller’s prior express written acknowledgement.  Further, Buyer agrees that it will make no representations, express or implied, to any person to the effect that Seller recommends or endorses the use of Product(s) purchased hereunder in any medical application.  

9. INSPECTION AND LIMITATION OF LIABILITY
Buyer shall inspect and test Product delivered hereunder for damage, defect or shortage immediately upon receipt at Buyer's plant or such other location as determined by Buyer and provide Seller notice of any such damage, defect or shortage within ten (10) days of receipt. Any claims for shortages must be supported by certified railroad scale tickets (or similar documents if shipments were not by rail) and Seller shall have an opportunity to have an independent weighing. All claims for any cause whatsoever, whether based in contract, negligence or other tort, strict liability, breach of warranty or otherwise, shall be deemed waived unconditionally and absolutely unless Seller receives written notice of such claim not later than one-hundred fifty (150) days after Buyer's receipt of Product as to which such claim is made.  Defective or nonconforming Product shall be replaced by Seller without additional charge, or in lieu thereof, at Buyer’s option, Seller may refund the purchase price upon return of such Product at Seller's expense and such refund or replacement shall constitute Buyer’s sole and exclusive remedy.  NOTWITHSTANDING THE ABOVE AND REGARDLESS OF THE CIRCUMSTANCES, SELLER'S TOTAL LIABILITY TO BUYER FOR ANY AND ALL CLAIMS, LOSSES OR DAMAGES ARISING OUT OF ANY CAUSE WHATSOEVER, WHETHER BASED IN CONTRACT, NEGLIGENCE OR OTHER TORT, STRICT LIABILITY, BREACH OF WARRANTY OR OTHERWISE, SHALL IN NO EVENT EXCEED THE PURCHASE PRICE OF PRODUCT IN RESPECT TO WHICH SUCH CAUSE AROSE. IN NO EVENT SHALL SELLER BE LIABLE FOR SPECIAL, INCIDENTAL, CONSEQUENTIAL OR EXEMPLARY DAMAGES. Any cause of action that Buyer may have against Seller and which may arise in connection with the transaction(s) specified herein must be commenced within two (2) years after the cause of action has accrued.

10. SAFETY, HEALTH AND INDEMNITY
Seller shall furnish to Buyer Material Safety Data Sheets, including warnings and safety and health information concerning Products and/or the containers therefor. Buyer agrees to disseminate such information so as to give warning of possible hazards to persons who Buyer can reasonably foresee may be exposed to such hazards, including but not limited to Buyer's employees, agents, contractors or customers.  Buyer shall instruct its employees, agents, and contractors on the safe handling, use, selling, storing, transportation and disposal practices for the Product. IF BUYER FALLS TO DISSEMINATE SUCH WARNINGS AND INFORMATION, BUYER AGREES TO DEFEND AND INDEMNIFY SELLER AGAINST ANY AND ALL LIABILITY ARISING OUT OF OR IN ANY WAY CONNECTED WITH SUCH FAILURE, INCLUDING BUT NOT LIMITED TO LIABILITY FOR INJURY, SICKNESS, DEATH AND PROPERTY DAMAGE; PROVIDED, HOWEVER, THAT IF SELLER IN THIS INSTANCE HAS CONTRIBUTED TO SUCH LIABILITY, BUYER'S INDEMNITY TO SELLER SHALL BE REDUCED BY THE PROPORTION IN WHICH SELLER CONTRIBUTED TO SUCH LIABILITY. Seller will provide Buyer with reasonable notice and opportunity to defend in the event any claim or demand is made on Seller as to which such indemnity relates.

11. CARS, TRUCKS AND BARGES
Buyer shall unload railroad cars, trucks and barges furnished by Seller within the free time specified by tariffs or time periods on file with applicable regulatory bodies, or promptly after receipt if no such tariffs or time periods are on file, and pay any charges resulting from its failure to do so directly to the common carrier upon receipt of invoice therefor. Buyer shall pay Seller's daily charges for trip-leased tank cars for tank cars held longer than seven (7) days from constructive placement. BUYER ASSUMES FULL RESPONSIBILITY FOR USE AND CONDITION OF CARS, TRUCKS AND BARGES WHILE IN BUYER'S POSSESSION (NORMAL WEAR AND TEAR EXCEPTED) AND AGREES TO (1) COMPENSATE SELLER FOR LOSS OR 

DAMAGE TO SELLER'S PROPERTY AND (2) INDEMNIFY AND SAVE SELLER HARMLESS FROM ANY LOSS OR DAMAGE TO PROPERTY OTHER THAN SELLER'S AND FROM ANY INJURIES TO PERSONS RELATING IN ANY WAY TO THE USE OF SUCH CAR(S), TRUCK(S) AND BARGE(S) WHILE SUCH ARE IN BUYER'S POSSESSION. Buyer shall report to Seller promptly any damage that may be sustained by the car(s), truck(s) or barge(s) in Buyer's possession.

12. LEASED TRACKS
Seller may elect to provide rail cars of Product to Buyer on leased tracks. If Seller does so, Buyer shall contact Seller to receive shipments of Product from the leased tracks and not request such shipment directly from the railroad.

13. CESSATION OR SUSPENSION OF OPERATIONS
If either party suspends or ceases the operation of any facility that produces or consumes Product because such operation and/or Product fails to comply with or becomes uneconomical by virtue of compliance with any applicable governmental law, regulation or order relating to pollution, ecology, environmental matter, or health and safety, each party shall have the right, upon fifteen (15) days' prior written notice, to suspend (in case of suspension of operation) or transfer to another location (in case of cessation of operation) performance hereunder. Neither party shall have any liability to the other with respect to deficiencies in Product deliveries due to any such cause.

14. EXPORT COMPLIANCE
The transaction(s) specified herein, unless otherwise indicated, constitute domestic sales within the United States.  Buyer shall comply with all applicable laws relating to export controls and economic sanctions, including, but not limited to, those maintained by the US Department of the Treasury (Office of Foreign Assets Controls) and the US Department of Commerce (Bureau of Industry and Security). If Buyer elects to export Product, Buyer shall constitute the U.S. Principal Party in Interest or Exporter for all purposes under applicable law.

15. NON-US BUYERS
If Buyer is a natural or legal person of any jurisdiction other than the United States and/or a State thereof, any dispute arising with respect to the transaction(s) specified in the supply agreement hereof shall be referred to three (3) arbitrators in accordance with the Rules of Arbitration of the International Chamber of Commerce as in effect on the date of such referral. The arbitration shall take place in Houston, Texas, U.S.A. The proceedings shall be in the English language. The American Arbitration Association shall act as appointing authority in the event required. Monetary awards shall be expressed in U.S. Dollars and all awards shall be final and binding on the parties. Judgment upon any award may be entered in any court having jurisdiction.

16. AMENDMENT; CANCELLATION

This document, and  the transaction(s) specified herein, can be amended or cancelled only with both parties’ written consent.

17. GOVERNING LAW
The parties' rights and obligations hereunder shall be construed and enforced under the laws of the State of Texas, U.S.A., without regard to conflict of laws principles. Incoterms 2010 (or any subsequent revision thereof) ("Incoterms") shall also apply; provided, however, that Incoterms shall apply only to the extent specified in the agreement hereof, and provided, further, that in the event of a conflict between Incoterms and the laws of the State of Texas, U.S.A., the latter shall govern. The parties specifically exclude application of the U.N. Convention on Contracts for the International Sale of Goods.

18. MISCELLANEOUS
No waiver by either party of a right, default or breach of any of the terms and conditions herein shall be effective unless in writing.  No such waiver shall be deemed a waiver of any subsequent right, default or breach (whether similar or dissimilar) except as expressly stated therein. Buyer shall not assign any of its rights or obligations with respect to the specified transaction(s) without Seller's prior written consent, which consent shall not be unreasonably delayed or withheld; any attempted assignment without such consent shall be void and of no effect. Seller may assign all of its rights and obligations with respect to such transaction(s) to any entity of which Exxon Mobil Corporation owns, directly or indirectly, at least fifty percent (50%) of the shares or other indicia of equity having the right to elect such entity's board of directors or other governing body. 

ATTACHMENT B
West Pharmaceutical Services and
ExxonMobil Chemical Company 2014-2018 Supply/Purchase Agreement

List of ExxonMobil Affiliates / Divisions
At its sole discretion and with prior written notice to Buyer, Seller may designate a different selling entity from the ones listed in this Attachment.

For Product purchases made by Buyer Affiliates in:  U.S.A., Brazil, Mexico
ExxonMobil Chemical Company and/or ExxonMobil Chemical Services Americas, Inc. (EMCC)
13501 Katy Freeway
Houston, TX  77079

For Product purchases made by Buyer Affiliates in: Denmark, France, Germany, United Kingdom, Serbia
ExxonMobil Chemical Belgium (EMPC)
ExxonMobil Petroleum & Chemical BVBA
Polderdijkweg
B - 2030 Antwerpen, Belgium

For Product purchases made by Buyer Affiliates in:  Singapore, China, India
ExxonMobil Affiliate:  ExxonMobil Chemical Asia Pacific, a division of ExxonMobil Asia Pacific Pte Ltd (EMCAP)
1 Harbour Front Place #06-00HarbourFront Tower One Singapore 098633

ATTACHMENT C

West Pharmaceutical Services and
ExxonMobil Chemical Company 2014-2018 Global Supply Agreement
List of West Pharmaceutical Affiliates

Brazil
West Pharmaceutical Services Brasil Ltda
AV Nossa Senhora Das Gracas
Diadema, Sao Paulo, Brazil 09980-000

China
West Pharmaceutical Packaging (China) Co., Ltd
North of Taipu River Bridge, Qqingeng Highway
Liang Tang Town
Qingpu District, Shanghai, PRC

Denmark
West Pharmaceutical Services Denmark A/S
Horsens, Denmark

France
West Pharmaceutical Services France, S.A.
38, Rue Robert Degon
Le Nouvion EN Thierache 02170

Germany
West Pharmaceutical Services Deutschland GmbH & Co. KG
Stolberger Str. 21-41
Eschweiler 52249

India
West Pharmaceutical Packaging India Pvt. Ltd.
900 Peepul Boulevard-Sector 36-Sri City-Satyavedu (P.O)
Chittoor District - A.P. - India - 517 588

Mexico
Pharma-tap SA DE CV
40 SUR L-8 MZA. 8B
Morelos, Mexico 62500

Serbia
West Pharmaceutical Services Beograd
Rimski Jarak BB
Kovin, Serbia 26220

Singapore
West Pharmaceutical Services Singapore Pte. Ltd.
Jurong, Singapore

U.S.A
West Pharmaceutical Services
530 West Herman O. Drive
Exton, PA.  19341

    
ATTACHMENT D
 West Pharmaceutical Services and
ExxonMobil Chemical Company 2014-2018 Global Supply Agreement

For all notices, communications, or questions regarding this Contract, the following addresses listed below shall be used; provided, however, that Seller and Buyer can each change any of its address information by providing written notice to the other party.

            
            
	
			
	ExxonMobil Chemical Company
	 
	West Pharmaceutical Services, Inc.

	13501 Katy Freeway
	 
	530 W. Herman O. Drive

	Houston, TX  77079
	 
	Exton, PA.  19341

	 
	 
	 

	Attn:  J. Mike Roach
	 
	Attn:  Ms. Linda Curtis

	281-870-6966    
	 
	610-594-2953

	Attn:  J. Mike Roach
	 
	 

	-or-
	 
	 

	Charlene K. Spiller
	 
	 

	ExxonMobil Chemical Company
	 
	 

	388 South Main Street
	 
	 

	Akron, Ohio  44311
	 
	 

	330-849-5754
	 
	 

ATTACHMENT E
West Pharmaceutical Services and
ExxonMobil Chemical Company 2014-2018 Global Supply Agreement

Buyer Affiliates shall pay ExxonMobil Selling Affiliates’ invoice(s) in full within the days set forth below:

	
			
	Location
	Payment Terms
	Delivery Terms - Incoterms 2010

	Brazil
	[**]
	[**]

	China
	[**]
	[**]

	Denmark
	[**]
	[**]

	France
	[**]
	[**]

	Germany
	[**]
	[**]

	India
	[**]
	[**]

	Mexico
	[**]
	[**]

	Serbia
	[**]
	[**]

	Singapore
	[**]
	[**]

	U.S.A.
	[**]
	[**]

	 
	 
	 

*Title and Risk of loss of product will transfer from ExxonMobil Chemical Company or ExxonMobil Chemical Services Americas, Inc. to Buyer Affiliate at the first point upon which the delivering marine vessel crosses the outer boundary of the United States Exclusive Economic Zone.  

ATTACHMENT F
West Pharmaceutical Services and
ExxonMobil Chemical Company 2014-2018 Global Supply Agreement
Returnable Crates

Attachment F documents Buyer's/Buyer Affiliates’ responsibility for returnable metal crates ("Metal Crates") used in the supply of Butyl products from Seller/ExxonMobil Selling Affiliates ("ExxonMobil").  Buyer/Buyer Affiliates wishes to receive Butyl in Metal Crates and ExxonMobil is willing to supply Butyl in Metal Crates, subject to the following agreement.

Agreement
Buyer/Buyer Affiliates is responsible for the Metal Crates in their custody at the replacement value of the Metal Crates. Buyer's /Buyer Affiliates’ custody begins when Metal Crates are loaded onto the delivering carrier at the ExxonMobil or third party warehouse and ends when Metal Crates are loaded onto the carrier for return to Global Pallet Services Limited (GPS) USA, Inc.

Buyer/Buyer Affiliates must implement a system to ensure Metal Crates are not lost or damaged, and are returned in undamaged condition (normal wear and tear excepted).  Buyer/Buyer Affiliates will supply to ExxonMobil upon request copies of any Bills of Lading needed to verify return shipments of Metal Crates.  

For each Metal Crate not received back at Global Pallet Services Limited (GPS) and where a physical inventory determines that such Metal Crate is not in the custody of Buyer/Buyer Affiliates, Buyer/Affiliates will have 30 days from end of the calendar year to reimburse ExxonMobil as stated below.

For the purposes of this agreement, a Metal Crate is considered to be in undamaged condition if the base and all four sides are in working condition.   Buyer/Buyer Affiliates agrees to pay for all repairs for damage to any Metal Crate, or to pay the replacement charge of $300.00 per Metal Crate for any Metal Crate that is either permanently lost or damaged beyond repair while in the custody of Buyer/Buyer Affiliates, and a replacement charge ($40.00 per door) for any removable door missing from Metal Crates collected at Buyer's /Buyer Affiliates’ location.  A Metal Crate shall be deemed to have been damaged beyond repair if the documented repair costs to restore the damaged Metal Crate to fit-for-fill condition would exceed $200.00.  In addition, if any of the charges imposed by Global Pallet Services Limited (GPS) under the agreement between the ExxonMobil and Global Pallet Service Limited (GPS) for damage to or loss of Metal Crates, are revised, the aforesaid amount reimbursable by Buyer/Buyer Affiliates shall automatically be revised in similar manner.

 ATTACHMENT G
The West Pharmaceutical Services and ExxonMobil Chemical Company/Affiliates
2014-2018 Global Supply Agreement

EMCAP STANDARD TERMS AND CONDITIONS OF SALE AND ACCEPTANCE OF ORDER

ACCEPTANCE
The acceptance of Buyer's order by Seller is expressly made conditional upon Buyer's assent to these Standard Terms and Conditions of Sale. 
WRITTEN AGREEMENT
If there is an executed written sales contract or agreement in effect between Buyer and Seller covering Buyer’s order, the terms and conditions of that contract or agreement shall prevail over and to the exclusion of any conflicting term in these Standard Terms and Conditions.
PRICE ADJUSTMENT
[**] Buyer's failure to deliver to Seller written objection to any such change at least ten (10) days before its effective date shall constitute acceptance.
If Buyer does deliver such objections, Seller may elect to continue to supply Buyer at the price existing at the time of the announced change or at such other new price as the parties may agree.

[**]
QUANTITY
Quantity of all shipments shall be determined by Seller at point of shipment. To allow for standard tolerances of scales, Seller will not consider any claims for shortages of less than one half of one percent (0.5%) of the gross weight of any shipment of packaged product or less than one half of one percent (0.5%) of the net weight of bulk shipment. Seller shall have the right at all times to appoint an independent surveyor.
TAXES
All prices are exclusive of taxes, duties, or other governmental charges levied on or in respect of the product or delivery thereof. Buyer shall pay or reimburse Seller for such taxes, duties or charges. 
WARRANTIES
There are no warranties which extend beyond the description on the face hereof, and Seller makes no warranty, expressed or implied, of satisfactory quality, merchantability, fitness for any particular use or otherwise, except that the products sold hereunder shall meet Seller's applicable standard specifications or such other specifications as may be notified by Seller to Buyer from time to time.  Buyer assumes all risk whatsoever as a result of the use of the products purchased, whether used singly or in combination with other substances or in any process. 
Without limiting the foregoing, Seller does not recommend nor endorse the use of product in any medical application and specifically disclaims any representation or warranty, express or implied, of suitability or fitness for use, or otherwise with respect to product’s use in any medical application. Buyer represents and warrants that no product purchased hereunder will be used or resold for use in any commercial or developmental manner in connection with medical applications without Seller’s prior express written acknowledgement.  Further, Buyer agrees that it will make no representations, express or implied, to any person to the effect that Seller recommends or endorses the use of product purchased hereunder in any medical application.

LIMITATION OF CLAIMS
Seller's total liability for all claims arising hereunder or connected with the products sold hereunder, whether based in contract, tort or otherwise, shall be no greater than an amount equal to the purchase price of the products to which any such claims relate, or at the Seller's option, and only in the case of claims regarding defective or non-conforming product, to replacement of such products, provided that in all cases Buyer shall be under an obligation to mitigate any loss as far as possible.  Seller shall not in any event be liable for any special, incidental, exemplary or consequential damages.
Subject to the Clauses on Quantity, Transfer of Risk and Title Transfer, Buyer shall inspect and test product delivered hereunder for damage, defect or shortage immediately upon receipt and provide Seller notice of any such damage, defect or shortage within ten (10) days of receipt.  Any claim must be accompanied by documents as required by Seller, including but not limited to a 

certified weigh scale ticket or an independent surveyor report, and Seller shall have an opportunity to an independent assessment.  All claims for any cause whatsoever, whether based in contract, negligence or other tort, strict liability, breach of warranty or otherwise, shall be deemed waived unconditionally and absolutely unless Seller receives complete written details of such claim not later than [**] after Buyer's receipt of product as to which such claim is made.  Receipt will be deemed to have taken place for purposes of this subparagraph when the product has been loaded onto Buyer’s transport, or offloaded from the vessel or other means of transport on which delivery has been made when delivery is arranged by Seller. 
 
LAYTIME AND DEMURRAGE
Buyer shall unload tank containers, cars, trucks and barges furnished by Seller and clear products from port, or at delivery destination, within the free time specified by tariffs or time periods on file with applicable bodies, or promptly after receipt if no such tariffs or time periods are on file.  Buyer shall pay charges resulting from its failure to do to Seller or directly to the common carrier upon receipt of invoice.
For bulk marine shipment, demurrage charge at load port is for account of Seller and at discharge port for Buyer’s account.  For sales other than FOB sales, laytime allowed, demurrage rate and applicable charter party terms shall be as specified in Seller’s vessel nomination to Buyer failing which, the terms in Seller’s contract of affreightment with the vessel owner shall apply and Buyer shall pay Seller or the carrier the demurrage incurred at the discharge port by Seller’s stipulated deadline. Subject to the foregoing, for the first discharge terminal, laytime shall commence six (6) hours after the vessel’s notice of readiness is tendered to Buyer (or its agent) or upon the vessel being all fast to the discharge terminal, whichever occurs first, and for subsequent discharge terminal(s), laytime shall commence immediately when the vessel’s notice of readiness is tendered to Buyer (or its agent). Laytime shall cease upon disconnection of all cargo hoses upon completion of discharge. For FOB sales, vessels nominated by Buyer are subject to Seller’s screening, inspection and acceptance process and Seller’s agreement to loading-date range duration / loading-date range narrowing profile / loading-date range communication leadtime and other shipping logistics, and any claim for demurrage by Buyer shall be waived unless notice in writing of such claim is received by Seller with full supporting documentation (including the invoice and time sheet issued by the vessel) by Seller’s stipulated deadline. 

MODIFICATION AND AMENDMENTS
There are no oral understandings, representations or warranties between the parties that conflict with these Standard Terms and Conditions or the details of price, payment, shipment or delivery schedule as communicated by Seller.  No modification of any Standard Terms and Conditions shall be of any force or effect unless such modification is in writing and signed by the party to be bound thereby, and no modification of the same shall be effected by the acknowledgement of Buyer’s purchase orders or equivalent forms containing terms and conditions at variance with those set forth herein and all such terms or conditions in Buyer’s purchase orders or equivalent forms shall be considered null and void. 

GOVERNING LAW
This Agreement shall be governed by Singapore law, without regard to its conflict of laws principles. Parties agree to exclude the application of the United Nations Convention on Contracts for the International Sale of Goods. A party that is not a party to this Agreement shall have no rights under the Contracts (Rights of Third Parties) Act (Cap 53B) to enforce any of the terms in this Agreement.

ASSIGNMENT
This Agreement shall not be assigned, in whole or in part, by either party without the prior consent of the other party, but shall be binding upon and shall inure to the benefit of the legal successors of the respective parties hereto; except that Seller may assign this Agreement, in whole or in part, to any affiliate.  For purposes of this Clause, an "affiliate" of Seller means the ultimate holding company of Seller or any corporation of which fifty percent (50%) or more of the outstanding stock is held directly or indirectly by such ultimate holding company. 

DEFINITION
To the extent not inconsistent with the terms hereof, Incoterms 2010 (“Incoterms”) shall apply hereto.

NO WAIVER
No waiver by either party of any breach of these Standard Terms and Conditions shall be construed as a waiver of any succeeding breach of the same.

CREDIT CLAUSE 

If Buyer fails to make payment when due or if Seller reasonably believes the financial status of Buyer is impaired due to any reason, Seller shall have the right, without prejudice to its other rights in contract or at law, upon notice to Buyer, to withhold further deliveries of product, modify or change any terms of payment or credit, suspend performance under this Agreement, accelerate payment obligations such that all amounts owed under prior deliveries and not paid shall become immediately due and payable, require Buyer to furnish security as deemed appropriate by Seller and/or exercise rights against any collateral and apply the proceeds against amounts due and owing. Seller shall in any event have the right to set-off any claim that Seller (or its affiliate) may have against Buyer (or its affiliate), against any sum which Seller may owe to Buyer (or its affiliate). 
In the event Seller requires a documentary letter of credit or a standby letter of credit, such letter of credit shall be issued by an international bank in form and substance acceptable to Seller. A clean letter of credit is to be received by Seller prior to the estimated shipment date or by such date as Seller shall agree.  Seller shall have no obligation to deliver product if the letter of credit is not so received by Seller.
Without prejudice to Seller's other rights in law and contract, it is agreed that Buyer shall indemnify and hold harmless the Seller from and against any dead-freight, vessel and/or port charges and payments, demurrage and/or any damages, losses or expenses incurred as a result of any delay in loading or non-delivery of any product under this Agreement arising from Buyer's failure or delay in providing the letter of credit in accordance with the terms of this Agreement.

BUSINESS PRACTICES

(a)    Business Standards.   Each party to this Agreement shall establish precautions to prevent its employees or subcontractors from making, receiving, providing or offering any substantial gifts, extravagant entertainment, payments, loans, or other considerations to the employees of the other party and/or their families and/or third parties in connection with this Agreement.

(b)    Compliance With Law.  Each party agrees and will secure agreement by its subcontractors to comply with all applicable laws, regulations, decrees and judicial orders.  Notwithstanding anything in this Agreement to the contrary, no provision shall be interpreted or applied so as to require any party to do, or refrain from doing, anything which would constitute a violation of, or result in a loss of economic benefit under, United States anti-boycott and other export laws and regulations.  Each party represents to the other party that it shall not make any improper payments of money or anything of value to a government official (whether appointed, elected, honorary, or a career government employee) in connection with this Agreement, nor shall it make improper payments to a third party knowing or suspecting that the third party will give the payment, or a portion of it, to a government official.

(c)    Notice of Non-Compliance.  Each party ("the Relevant Party") agrees to notify the other party promptly upon discovery of any instance where the Relevant Party fails to comply with this Clause.  If either party discovers or is advised of any errors or exceptions related to its invoicing under this Agreement, both parties will together review the nature of the errors or exceptions, and will, if appropriate, promptly take corrective action that is necessary on its part and adjust the relevant invoice or refund overpayments.

ATTACHMENT H
The West Pharmaceutical Services and
ExxonMobil Chemical Company/Affiliates 2014- 2018 Global Supply Agreement

GENERAL TERMS AND CONDITIONS OF SALES
ExxonMobil Petroleum & Chemical, BVBA (hereafter referred to as "EM")

1. Agreement(s) as used herein shall mean the agreement to which this Attachment H is attached. These general terms and conditions shall apply to and form part of all Agreements. The Agreement constitutes the complete and entire understanding and agreement between EM and Buyer. No other general terms and conditions will have an effect on the Agreement. Deviations from the Agreement, including these general terms and conditions, shall be valid only if expressly agreed in writing by the parties. 

2. Title to the product shall transfer from EM to Buyer simultaneously with the transfer of risks as per Incoterms. All references to Incoterms shall mean ICC Incoterms 2010.

3. EM will use reasonable efforts to meet the planned delivery date which shall be deemed to be only approximate. 

4. If Buyer is responsible for the transport of products, Buyer shall ensure that the means of transport is clean and dry, suitable for loading and carrying the products, and complies with the safety standards of EM and with the legal standards for such means of transport. In case of non- or incomplete compliance with the above requirements, EM will be entitled not to load or cause to load this means of transportation, without any obligation to compensation. 

5. If delivery takes place on reusable pallets (regardless of whether they are property of EM), Buyer will maintain these pallets in good condition (normal wear and tear excepted) and make them available on request for collection by or on behalf of EM.

6.Except as otherwise provided pursuant to Paragraph 2, and without regard to any course of dealing between parties: 1) Seller shall not be obligated to sell or deliver any quantity or product(s) covered hereby (“Product”) beyond the amount, if any, which in Seller’s sole judgment, is available for such purpose as of the proposed date of shipment to Buyer; (2) the price of Product shall be Seller’s price therefor as the date of shipment; (3) Seller reserves the right to set minimums and/or premiums or to reject orders for unusual configurations, sizes and folds; (4) unless otherwise specified on page 1 hereof, an overrun of up to ten percent (10% shall constitute due performance of any order; (5) any freight allowances shall be those specified by Seller as of the date of shipment; and (6) Buyer shall allow Seller a reasonable period for delivery of shipments of Product.

7. Prices are exclusive of taxes (such as VAT), duties or other governmental charges. In addition to the price of the product, EM shall have the right to charge any taxes, duties or other governmental charges that now or in the future may be levied, in connection with the manufacture, sale, transportation, storage, handling, delivery, use, possession of or disposal of the product or raw materials used in it. VAT and excise tax exemptions granted on request of Buyer in accordance with legislation or administrative regulations imposed by any lawful authority, shall be the exclusive responsibility of Buyer who shall indemnify EM in respect of any VAT or excise Tax liabilities arising therefrom.

8. Seller will invoice Buyer and Buyer will pay the invoice in the currency stated on the invoice, without any discount, deduction or set off, so that EM’s designated bank account is credited with the full invoiced amount provided in Attachment E.. 

9. Failure by Buyer to pay on the due date shall make all sums owing by Buyer to EM on any account whatsoever immediately and automatically due and payable, without prejudice to EM's right to charge automatically and without giving any notice the statutory late payment interest rate as defined in the EU Directive 2000/35/EC on combating late payment in commercial transactions. 

10. EM and any of its Affiliates (as herein defined) may at any time without giving notice to or making demand upon Buyer, set off and apply any and all sums at any time owing by EM and/or by any of its Affiliates to Buyer or any of Buyer’s Affiliates, against any and all sums owing by Buyer or any of Buyer’s Affiliates to EM and/or to any of its Affiliates.  An Affiliate is (1) for EM : Exxon Mobil Corporation or any company in which Exxon Mobil Corporation owns or controls, directly or indirectly, 50 % or more of the voting stock and (2) for the Buyer : any company in which its ultimate holding company owns or controls, directly or indirectly, 50 % or more of the voting stock.

11.  If one party has objective reasons to conclude that the financial status of the other party becomes impaired or unsatisfactory, or in case of late payment, it may require the other party to provide adequate securities, including cash in advance, for the timely payment of future deliveries, absent which it may suspend its supply obligations. 

12. Health and safety information relating to handling and use of products shall be in the Safety Data Sheets (SDS) that EM has sent or will send to Buyer prior to any shipments of Products.  Buyer shall provide such health and safety information to anyone including without limitation its employees, contractors, agents or customers who may be exposed to the product. Buyer warrants that it possesses the necessary expertise for handling products of the type being supplied hereunder and that it will take the steps necessary to review and understand that information contained on the SDS for each product it purchases. Such data and statements are offered only for Buyer's and its users' and customers' considerations, investigation and verification.

13. EM gives no guarantees or warranties, express or implied, as to the quality, merchantability, fitness for purpose or suitability of the products except that the product sold pursuant to the terms of this Agreement shall meet the relevant EM standard specification in force at the time of loading or such other specification or requirement which may be explicitly agreed in writing between the parties. 

Without limiting the foregoing, EM does not recommend nor endorse the use of product(s) in any medical application and specifically disclaims any representation or warranty, express or implied, of suitability or fitness for use, or otherwise with respect to product(s)’ use in any medical application.   Further, Buyer agrees that it will make no representations, express or implied, to any person to the effect that EM recommends or endorses the use of product(s) purchased hereunder in any medical application.  

EM's maximum liability for all claims for any reason is the sales price of the product involved and EM shall not be liable for indirect or consequential damage. 

14. EM makes no representation or warranty of any kind, express or implied, that the products sold hereunder, or the use of such products, or articles made therefrom, in conjunction with other materials, will not infringe any patent or trademark rights. Buyer agrees that it will promptly notify EM of any claim or suit involving Buyer in which patent or trademark infringement is alleged with respect to the products sold hereunder, and that Buyer will permit EM, at its option and expense, to control completely the defense or settlement of any such allegation of infringement. 

15. Neither party shall be liable for any delay in performance or non-performance caused by circumstances beyond the reasonable control of the party affected including, but not limited to, acts of God, fire, flood, war, accident, explosion, breakdowns of third party machinery, labor disputes; inability to obtain energy, utilities, equipment, transportation, or good faith compliance with any regulation, direction or request (whether ultimately determined to be valid or invalid) made by governmental authority or any person or persons purporting to act  for such an authority. 

Regardless of the occurrence or non-occurrence of any of the circumstances set forth above, if for any reason, supplies of the product deliverable under this Agreement or of the feedstock from which the product is directly or indirectly derived from any of EM's then existing sources of supply are curtailed or cut off, EM shall have the option during such period of curtailment or cessation to apportion fairly among its customers including EM Affiliates and whether under contract or not,  such product as may be received in the ordinary course of business or manufactured at EM's plant.

EM shall use commercially reasonable efforts to purchase or otherwise obtain alternative supplies of product deliverable under this Agreement, or the feedstock from which product directly or indirectly is derived.  EM shall not be obliged to settle labor disputes, run down inventories below normal levels, adapt or vary its manufacturing plan except at its own sole discretion, or to take any steps other than in accordance with good business practice to make up inadequate supplies or to replace the supplies so curtailed or cut off.  EM shall not be obliged to make up deliveries omitted or curtailed under this Agreement.  Any such deficiencies in deliveries shall be cancelled with no liability to either party, it being agreed, however, that a force majeure situation hereunder shall not entitle either party to cancel this Agreement.

16. In case of any material breach of the terms and conditions contained in the Agreement by one of the parties, the other party may, without giving prior written notice or without undertaking any recourse to legal proceedings, suspend its further performance, terminate the Agreement or require specific performance by the other party of the Agreement in whole or in part, without prejudice to its right to damages for any losses incurred subject to Article 14. 

17. Neither party may assign this Agreement without the written consent of the other party save in the case where such assignment is to an EM Affiliate and prior written notice has been given to the Buyer. 

18. EM informs Buyer that any information or data communicated by Buyer may be subject to data processing for the purpose inter alia of enhancing services quality, keeping accounts, and Buyer's records, invoicing, product supply. Such information and data may be transferred, communicated to or otherwise accessed by any EM Affiliates some of which may be located outside the territory of the European Union. According to applicable law, Buyer has a right of access and rectification of its personal data by sending a letter to EM.

19. Notwithstanding any other provision in this Agreement or any other document, neither this Agreement nor any other document shall constitute an agreement by EM to take any action or refrain from taking any action that is in conflict with, penalized under or compliance with which is prohibited by US law or regulation.

20.a.  This Agreement between EM and Buyer shall be governed by the laws of Belgium (excluding its rules on conflict of laws). Neither the Uniform Law on the International Sale of Goods ('ULIS'), nor the United Nations Convention on Contracts for the International Sale of Goods 1980 ('CISG') shall apply.
21.b.(i) If Buyer's registered office is located within the territory of the European Economic Area ('EEA'), any disputes between EM and Buyer arising out of or in relation to this Agreement shall be of the exclusive jurisdiction of the Courts of Antwerp.
20.b.(ii) If Buyer's registered office is located outside the territory of the EEA, any disputes arising out of or in relation to this Agreement shall be finally settled under the CEPANI Rules of Arbitration by three (3) arbitrators appointed in accordance with said Rules. The seat of the arbitration shall be Brussels. The arbitration shall be conducted in the English language.Ex 10.1 AmendmentNo4ConformedSignatures

Exhibit 10.1

Execution Version

MASTER ASSIGNMENT, AGREEMENT AND AMENDMENT NO. 4 TO  
SECOND AMENDED AND RESTATED CREDIT AGREEMENT

This Master Assignment, Agreement and Amendment No. 4 to Second Amended and Restated Credit Agreement ("Agreement") dated as of August 13, 2014 ("Effective Date"), is among Gastar Exploration Inc., a Delaware corporation ("Borrower"), Wells Fargo Bank, National Association, as administrative agent for the Lenders (as defined below) (in such capacity, the "Administrative Agent"), as collateral agent (in such capacity, the "Collateral Agent"), as swing line lender (in such capacity, "Swing Line Lender"), as issuing lender (in such capacity, the "Issuing Lender"), and in its capacity as a Lender (in such capacity, the “Assignee”), IBERIABANK, in its individual capacity as a Lender (in such capacity, the “Assignor”), Comerica Bank, in its individual capacity as a Lender, and ING Capital LLC, in its individual capacity as a Lender.

RECITALS

A.The Borrower is party to that certain Second Amended and Restated Credit Agreement dated as of June 7, 2013, among the Borrower, the lenders thereto from time to time (the "Lenders"), the Administrative Agent, the Collateral Agent, the Swing Line Lender, and the Issuing Lender, as heretofore amended (as so amended, the "Credit Agreement").

B.The parties hereto wish to increase the Borrowing Base under the Credit Agreement and in connection with such increase, Assignor wishes to assign a certain percentage of its rights and obligations under the Credit Agreement as a Lender to Assignee pursuant to the terms hereof.

C.After the assignment and acceptance of the rights and obligations set forth herein have been made effective, the parties hereto agree to, subject to the terms and conditions set forth herein, (i) amend the Credit Agreement as provided herein and (ii) increase the Borrowing Base.

THEREFORE, the Borrower, the Lenders, the Issuing Lender, the Swing Line Lender, the Collateral Agent, and the Administrative Agent hereby agree as follows:
Section 1.Defined Terms; Interpretation.  As used in this Agreement, each of the terms defined in the opening paragraph and the Recitals above shall have the meanings assigned to such terms therein.  Each term defined in the Credit Agreement and used herein without definition shall have the meaning assigned to such term in the Credit Agreement, unless expressly provided to the contrary.  The words "hereby", "herein", "hereinafter", "hereof", "hereto" and "hereunder" when used in this Agreement shall refer to this Agreement as a whole and not to any particular Article, Section, subsection or provision of this Agreement.  Article, Section, subsection and Exhibit references herein are to such Articles, Sections, subsections and Exhibits of this Agreement unless otherwise specified. All titles or headings to Articles, Sections, subsections or other divisions of this Agreement or the exhibits hereto, if any, are only for the convenience of the parties and shall not be construed to have any effect or meaning with respect to the other content of such Articles, Sections, subsections, other divisions or exhibits, such other content being controlling as the agreement among the parties hereto.  Whenever the context requires, reference herein made to the single number shall be understood to include the plural; and likewise, the plural shall be understood to include the singular.  Words denoting sex shall be construed to include the masculine, feminine and neuter, when such construction is appropriate; and specific enumeration shall not exclude the general but shall be construed as cumulative.  Definitions of terms defined in the singular or plural shall be equally applicable to the plural or singular, as the case may be, unless otherwise indicated.

Section 1.    Assignments and Acceptances.  In lieu of executing and delivering an Assignment and Acceptance, Assignor and Assignee hereby agree to, and Borrower hereby accepts, the following:
(a)    Assignment.  For an agreed consideration, Assignor hereby irrevocably sells and assigns to Assignee, and Assignee hereby irrevocably purchases and assumes from Assignor, subject to and in accordance with the terms hereof and the Credit Agreement, as of the Effective Date (i) such percentage in and to all of Assignor’s rights and obligations in its capacity as a Lender under the Credit Agreement and any other documents or instruments delivered pursuant thereto to the extent related to the amount and percentage interest identified in Schedule II hereto that would result in Assignor and Assignee having the respective Commitments set forth in Schedule II attached hereto (including without limitation any letters of credit and guaranties provided in connection with the Credit Agreement), and (ii) to the extent permitted to be assigned under applicable law, all claims, suits, causes of action and any other right of Assignor (in its capacity as a Lender) against any Person, whether known or unknown, arising under or in connection with the Credit Agreement, any other documents or instruments delivered pursuant thereto or the loan transactions governed thereby or in any way based on or related to any of the foregoing, including, but not limited to, contract claims, tort claims, malpractice claims, statutory claims and all other claims at law or in equity related to, and in proportion to, the rights and obligations sold and assigned pursuant to clause (i) above (the rights and obligations sold and assigned by Assignor to Assignee pursuant to clauses (i) and (ii) above being referred to herein collectively as an "Assigned Interest").  Each such sale and assignment is without recourse to Assignor and, except as expressly provided in this Agreement, without representation or warranty by Assignor.  After giving effect to the sale and assignment pursuant to this Section 2(a) and after giving effect to the increase in the Borrowing Base set forth in Section 3 below, each Lender's Pro Rata Share of the Borrowing Base will be as set forth next to its name on Schedule I attached hereto.
(b)    Representations and Warranties of Assignor.  Assignor (i) represents and warrants that (A) it is the legal and beneficial owner of the relevant Assigned Interest, (B) such Assigned Interest is free and clear of any lien, encumbrance or other adverse claim, and (C) it has full power and authority, and has taken all action necessary, to execute and deliver this Agreement and to consummate the transactions contemplated hereby; and (ii) it assumes no responsibility with respect to (A) any statements, warranties or representations made in or in connection with the Credit Agreement or any other Loan Document, (B) the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Loan Documents or any collateral thereunder, (C) the financial condition of the Borrower, its Subsidiaries or Affiliates or any other Person obligated in respect of any Loan Document or (D) the performance or observance by the Borrower, its Subsidiaries or Affiliates or any other Person of any of its obligations under any Loan Document.
(c)    Representations and Warranties of Assignee.  Assignee (i) represents and warrants that (A) it has full power and authority, and has taken all action necessary, to execute and deliver this Agreement and to consummate the transactions contemplated hereby and to increase its Pro Rata Share under the Credit Agreement, (B) it meets all the requirements to be an assignee under Section 9.07 of the Credit Agreement (subject to such consents, if any, as may be required under Section 9.07 of the Credit Agreement), (C) from and after the Effective Date, it shall be bound by the provisions of the Credit Agreement as a Lender thereunder and, to the extent of the relevant Assigned Interest, shall have the obligations of a Lender thereunder, (D) it is sophisticated with respect to decisions to acquire assets of the type represented by the Assigned Interest and either it, or the person exercising discretion in making its decision to acquire the Assigned Interest, is experienced in acquiring assets of such type, (E) it has received a copy of the Credit Agreement and has received or has been accorded the opportunity to receive copies of the most recent financial statements delivered pursuant to Section 5.06 thereof, and such other documents and information as it deems appropriate to make its own credit analysis and decision to enter into this Agreement and to purchase such Assigned Interest, (F) it has, independently and without reliance upon the Administrative Agent or the other Lenders and based on such documents and information as it has deemed appropriate, 

2

made its own credit analysis and decision to enter into this Agreement and to purchase such Assigned Interest, and (G) if it is not incorporated under the laws of the United States of America or a state thereof, on or prior to the date hereof, it has delivered to Administrative Agent any documentation required to be delivered by it pursuant to the terms of the Credit Agreement, duly completed and executed by it; and (ii) agrees that (A) it will, independently and without reliance on the Administrative Agent any Assignor or any other Lenders, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Loan Documents, and (B) it will perform in accordance with their terms all of the obligations which by the terms of the Loan Documents are required to be performed by it as a Lender.
(d)    Payments.  From and after the Effective Date, Administrative Agent shall make all payments in respect of each Assigned Interest (including payments of principal, interest, fees and other amounts) to Assignee whether such amounts have accrued prior to, on or after the Effective Date.  Assignor and Assignee shall make all appropriate adjustments in payments by Administrative Agent for periods prior to the Effective Date or with respect to the making of this assignment directly between themselves.
(e)    Consent; Waiver of Administrative Fees.  Administrative Agent and Borrower hereby consent to Assignor’s assignment of the Assigned Interests to Assignee and a one-time waiver of the $3,500 administrative fees that would otherwise be payable by Assignee pursuant to Section 9.07(b)(iv) of the Credit Agreement as a result of the assignment provided for herein, and waive any other conditions to the effectiveness of such assignment that are not expressly set forth in this Agreement, including, but not limited, the condition set forth in Section 9.07(b)(i)(B) of the Credit Agreement, and agree that the terms of this Agreement shall constitute an Assignment and Acceptance.
Section 2.    Agreement - Increase in Borrowing Base.  Subject to the terms of this Agreement, as of the Effective Date, the Borrowing Base shall be increased by $25,000,000, resulting in a new Borrowing Base equal to $145,000,000.  Such new Borrowing Base shall remain in effect at that level until the effective date of the next Borrowing Base redetermination made in accordance with the Credit Agreement, as amended hereby.  The parties hereto acknowledge and agree that the Borrowing Base redetermination set forth in this Section 3 shall be deemed to be the scheduled, fall redetermination provided for in Section 2.02(b)(ii) of the Credit Agreement.  Each Lender's Pro Rata Share of the resulting Borrowing Base, after giving effect to the assignment made pursuant to Section 2 above and the increase in the Borrowing Base set forth in this Section 3, is set forth in Schedule I attached hereto.
Section 3.    Amendments to Credit Agreement.  Schedule II (Notice Information and Commitments) to the Credit Agreement is hereby replaced in its entirety with Schedule II (Notice Information and Commitments) attached hereto.
Section 4.    Representations and Warranties.  Each Loan Party represents and warrants that: (a) after giving effect to this Agreement, the representations and warranties contained in the Credit Agreement and the representations and warranties contained in the other Loan Documents are true and correct in all material respects (except that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof) on and as of the date hereof; (b) after giving effect to this Agreement, no Default has occurred and is continuing; (c) the execution, delivery and performance of this Agreement are within the corporate, partnership, or limited liability company power and authority of such Loan Party, as applicable, and have been duly authorized by appropriate corporate, partnership, or limited liability company action and proceedings, as applicable; (d) this Agreement constitutes the legal, valid, and binding obligation of such Loan Party enforceable in accordance with its terms, except as limited by applicable bankruptcy, insolvency, reorganization, moratorium, or similar laws affecting the rights of creditors generally and general principles of equity; (e) there are no governmental or 

3

other third party consents, licenses and approvals required in connection with the execution, delivery, performance, validity and enforceability of this Agreement; (f) the Liens under the Security Instruments are valid and subsisting and secure the Secured Obligations; and (g)  after giving effect to this Agreement, assuming that the Borrower makes Borrowings, or otherwise has Borrowings outstanding, of an amount that causes Availability to be equal to zero Dollars, all such Borrowings were permitted to be incurred and secured under the Second Lien Loan Documents.
Section 5.    Conditions to Effectiveness.  This Agreement and the amendments provided herein shall become effective and enforceable against the parties hereto upon the occurrence of the following conditions precedent:
(a)    Administrative Agent shall have received multiple original counterparts, as requested by Administrative Agent, of the following, duly and validly executed and delivered by duly authorized officers of the parties thereto:
i.this Agreement and all attached Schedules;
ii.a replacement Revolving Note payable to Assignor or its registered assigns;
iii.a replacement Revolving Note payable to Assignee or its registered assigns;
(b)    the representations and warranties in this Agreement made by Borrower shall be true and correct in all material respects; and
(c)    Borrower shall have paid the fee required under Section 7(f) below.
Section 6.    Effect on Loan Documents; Acknowledgments.
(a)    The Borrower acknowledges that on the date hereof all Obligations are payable without defense, offset, counterclaim or recoupment.
(b)    The Administrative Agent, the Collateral Agent, the Issuing Lender, the Swing Line Lender, and the Lenders hereby expressly reserve all of their rights, remedies, and claims under the Loan Documents.  Nothing in this Agreement shall constitute a waiver or relinquishment of (i) any Default or Event of Default under any of the Loan Documents, (ii) any of the agreements, terms or conditions contained in any of the Loan Documents, (iii) any rights or remedies of the Administrative Agent, the Collateral Agent, the Issuing Lender, the Swing Line Lender, or any Lender with respect to the Loan Documents, or (iv) the rights of the Administrative Agent, the Collateral Agent, the Issuing Lender, the Swing Line Lender, or any Lender to collect the full amounts owing to them under the Loan Documents.
(c)    Each of the Borrower, the Administrative Agent, the Collateral Agent, the Issuing Lender, the Swing Line Lender, and the Lenders does hereby adopt, ratify, and confirm the Credit Agreement, as amended hereby, and acknowledges and agrees that the Credit Agreement, as amended hereby, and all other Loan Documents are and remain in full force and effect, and the Borrower acknowledges and agrees that its liabilities under the Credit Agreement and the other Loan Documents are not impaired in any respect by this Agreement.
(d)    From and after the Effective Date, all references to the Credit Agreement and the Loan Documents shall mean such Credit Agreement and such Loan Documents as amended prior hereto as described in the recitals, and by this Agreement.

4

(e)    This Agreement is a Loan Document for the purposes of the provisions of the other Loan Documents.  Without limiting the foregoing, any breach of representations, warranties, and covenants under this Agreement shall be a Default or Event of Default, as applicable, under the Credit Agreement.
(f)    The Borrower hereby agrees to pay a Borrowing Base increase fee for the account of each Lender, after giving effect to the sales and assignments made pursuant to Section 2 above, equal to 0.30% of the amount by which such Lender’s Pro Rata Share of the new Borrowing Base, as set forth on Schedule I and increased pursuant to Section 3 above, exceeds such Lender’s Pro Rata Share of the existing Borrowing Base, as set forth on Schedule I.  Such increase fee is (i) due and payable on the Effective Date, (ii) deemed fully earned upon becoming due and payable, (iii) not refundable under any circumstance upon payment thereof, and (iv) in addition to, and not in lieu of, any other fees as the Borrower may have agreed to pay under the other Loan Documents.
Section 7.    Counterparts.  This Agreement may be signed in any number of counterparts, each of which shall be an original and all of which, taken together, constitute a single instrument.  This Agreement may be executed by facsimile or email (i.e., PDF) signature and all such signatures shall be effective as originals.
Section 8.    Successors and Assigns.  This Agreement shall be binding upon and inure to the benefit of the Borrower, the Lenders, the Issuing Lender, the Swing Line Lender, the Collateral Agent, and the Administrative Agent and their respective successors and assigns permitted pursuant to the Credit Agreement.
Section 9.    Invalidity.  In the event that any one or more of the provisions contained in this Agreement shall for any reason be held invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provision of this Agreement.
Section 10.    Governing Law.  This Agreement shall be deemed a contract under, and shall be governed by, and construed and enforced in accordance with, the laws of the State of New York applicable to contracts made and to be performed entirely within such state, without regard to conflicts of laws principles (other than Section 5-1401 and Section 5-1402 of the General Obligations Law of the State of New York).
Section 11.    Waiver of Jury.  THE BORROWER, THE LENDERS, THE ISSUING LENDER, AND THE AGENTS HEREBY ACKNOWLEDGE THAT THEY HAVE BEEN REPRESENTED BY AND HAVE CONSULTED WITH COUNSEL OF THEIR CHOICE, AND HEREBY KNOWINGLY, VOLUNTARILY, INTENTIONALLY, AND IRREVOCABLY WAIVE ANY AND ALL RIGHT TO TRIAL BY JURY IN RESPECT OF ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT, ANY OTHER LOAN DOCUMENT, OR ANY OF THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY.
Section 12.    Entire Agreement. THIS AGREEMENT, THE CREDIT AGREEMENT AS AMENDED BY THIS AGREEMENT, THE NOTES, AND THE OTHER LOAN DOCUMENTS CONSTITUTE THE ENTIRE UNDERSTANDING AMONG THE PARTIES HERETO WITH RESPECT TO THE SUBJECT MATTER HEREOF AND SUPERSEDE ANY PRIOR AGREEMENTS, WRITTEN OR ORAL, WITH RESPECT THERETO.
[The remainder of this page has been left blank intentionally.]

5

EXECUTED effective as of the date first above written.

BORROWER:

GASTAR EXPLORATION INC.

By: /s/ Michael A. Gerlich    
Michael A. Gerlich
Senior Vice President, Chief Financial Officer and
Corporate Secretary

Signature Page to 
Master Assignment, Agreement and Amendment No. 4 to
Second Amended and Restated Credit Agreement
(Gastar Exploration Inc.)

ADMINISTRATIVE AGENT/COLLATERAL AGENT/ISSUING LENDER/SWING LINE LENDER/LENDER/ASSIGNEE:

WELLS FARGO BANK, NATIONAL ASSOCIATION

By: /s/ Stephanie Harrell    
Stephanie Harrell
Assistant Vice President

Signature Page to 
Master Assignment, Agreement and Amendment No. 4 to
Second Amended and Restated Credit Agreement
(Gastar Exploration Inc.)

LENDER:

COMERICA BANK

By:    /s/ William Robinson    
Name:    William Robinson
Title:    Vice President

Signature Page to 
Master Assignment, Agreement and Amendment No. 4 to
Second Amended and Restated Credit Agreement
(Gastar Exploration Inc.)

LENDER/ASSIGNOR:

IBERIABANK

By:    /s/ Moni Collins    
Name:    Moni Collins
Title:    Vice President

LENDER:

ING CAPITAL LLC

By:    /s/ Josh Strong    
Name:    Josh Strong 
Title:    Director

ING CAPITAL LLC

By:    /s/ Charles Hall    
Name:    Charles Hall
Title:    Managing Director

SCHEDULE I
BORROWING BASE
	
			
	Lenders:
	Pro Rata Share of existing Borrowing Base
	Pro Rata Share of Borrowing Base*

	Wells Fargo Bank, National Association
	$36,000,000
	$44,750,000

	Comerica Bank
	$30,000,000
	$36,250,000

	IBERIABANK
	$30,000,000
	$35,000,000

	ING Capital LLC
	$24,000,000
	$29,000,000

	Total:
	$120,000,000
	$145,000,000

*Borrowing Base in effect as of August 13, 2014.  Borrowing Base is subject to redetermination pursuant to the terms of this Agreement.

SCHEDULE II
NOTICE INFORMATION AND COMMITMENTS
Each of the commitments to lend set forth herein is governed by the terms of the Credit Agreement which provides for, among other things, borrowing base limitations which may restrict the Borrower’s ability to request (and the Lenders’ obligation to provide) Credit Extensions to a maximum amount which is less than the commitments set forth in this Schedule II.
Administrative Agent/Collateral Agent/Issuing Lender/Swing Line Lender:
Wells Fargo Bank, National Association 
1525 West WT Harris Boulevard – 1B1 
Charlotte, North Carolina 28262 
Attention: Agency Services Manager 
Facsimile: (704) 715-0017
with a copy to:
Wells Fargo Bank, National Association 
1000 Louisiana, 9th Floor 
MAC T0002-090 
Houston, Texas  77002 
Attention: Charles Randall 
Facsimile: (713) 319-1925
Borrower:
Gastar Exploration Inc. 
1331 Lamar Street, Suite 1080 
Houston, Texas 77010 
Attention: Michael Gerlich 
Facsimile: (713) 739-0458
	
						
	Lenders:
	Commitments
	Percentage of Total

	Wells Fargo Bank, National Association
	

	$154,310,345
	

	30.862069
	%

	Comerica Bank
	

	$125,000,000
	

	25.000000
	%

	IBERIABANK
	

	$120,689,655
	

	24.137931
	%

	ING Capital LLC
	

	$100,000,000
	

	20.000000
	%

	Total:
	

	$500,000,000
	

	100.000000
	%

Signature Page to 
Master Assignment, Agreement and Amendment No. 4 to
Second Amended and Restated Credit Agreement
(Gastar Exploration Inc.)

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