Document:

exv10w1

 

Exhibit 10.1

Agreement for Adjustment and Termination of Services under Kraton/Shell SUMF and OMS

Agreements at Pernis

     This Agreement is made and entered into as of this 28th day of June, 2007, by and between
Shell Nederland Chemie B.V., a company formed under the laws of the Netherlands (“SNC”), and Kraton
Polymers Nederland B. V., a company formed under the laws of the Netherlands (“Kraton”); Kraton and
SNC are collectively known as the (“Parties”).

     WHEREAS, the Parties have entered into a First Amended and Restated Site Services, Utilities,
Materials and Facilities Agreement (referred to as “SUMFs”) and a first amended and restated
Operation and Maintenance Service Agreement (“OMS”) on or about February 28, 2001;

     WHEREAS, the SNC intends to end the production of isoprene concentrate (“Isoprene”) under a
tolling agreement with Shell Chemicals Europe B.V. (“SCE”) on or about December 31, 2009; and

     WHEREAS, the Parties now wish to enter in to a cooperative arrangement to allow for the smooth
transition and to manage the manage the impacts from termination of Isoprene production at SNC; and

     WHEREAS, one such impact of SNC’s decision to end production of Isoprene is possibly the early
shutdown of the SIS and IR plants owned by Kraton at the SNC Pernis complex;

     NOW, THEREFORE, the Parties hereto agree as follows:

	1.	 	Definitions and Inconsistencies.

	 	1.1	 	Definitions and Procedures. Unless the context shall otherwise require and unless
otherwise provided herein, capitalized terms used herein shall have the meanings set
forth in SUMFs and OMS Agreements.
	 
	 	 	 	CMR is the monomers and rubber complex at the Site including the rubber warehouses.
	 
	 	1.2	 	Inconsistencies. In the event of any inconsistency, this Agreement shall prevail
over the SUMFs and OMS Agreements.

	2.	 	Reduced Production

	 	2.1	 	SIS Plant. At some point Kraton intends to shutdown their SIS plant at
Pernis. Such shutdown will reduce Kraton’s need for workers under the OMS Agreement. It
is expect that the shutdown will take place in stages but could begin before the end of
calendar year 2007.
	 
	 	2.2	 	IR Plant. At some point Kraton intends to shutdown their IR plant. Such
shutdown will reduce Kraton’s need for workers under the OMS Agreement. It is expected
that the shutdown will take place in stages and could be fully implemented around the
end of calendar year 2009. The final shutdown will be coordinated with the business
needs of both Parties and SCE and with the intended shutdown of SNC’s Isoprene plant.
	 
	 	2.3	 	Timing for SIS and IR Plant Shutdowns. During the course of the next
several months Kraton will provide SNC with its Production and Manpower Case outlining
the probable closure time for its SIS and IR plants taking into account the business
needs of both Parties and SCE. Kraton

 

	 	 	 	agrees that it will notify SNC as soon as possible if any changes are to be made to
the Production and Manpower Case. In all cases the time restrictions in section 2.5
shall apply.
	 
	 	2.4	 	Manpower Planning. The Parties will cooperate over the nest two years to
reach agreement upon a Production and Manpower Plan on the basis of the (in line with
art. 2.3 amended) Production and Manpower Case to allow for the smoothest transitions.
Part of the Production and Manpower Plan will be a phased schedule for the release of
staff from the CMR. In this Plan Kraton will provide at least two calendar months
written notice of any FTE reduction it requires.
	 
	 	2.5	 	Payment for early return of workers. Notwithstanding and in lieu of any
provisions for termination of workers or for reimbursement of redundancy costs in SUMFs,
OMS or required by law, Kraton agrees to pay SNC for each worker released from service
at the CMR by SNC in response to a request by Kraton to reduce the FTE level in line
with the Production and Manpower Plan and returned to service at SNC or an affiliate of
SNC the following:

	 	(i)	 	For the first 22 workers returned, Kraton will pay a lump sum
payment of €12,000 per worker per month for 5 months as each worker is
released as described above.
	 
	 	(ii)	 	For the remainder of the FTE’s currently employed in the service of
Kraton at the CMR (38 FTE’s) Kraton will pay a lump sum payment of €23,000 per
worker per month for 5 months as each worker is released as described above.

	 	2.6	 	Timing of Payments. Thirty (30) days after the release and return of one
or more workers by Kraton to SNC; the amount due in accordance with Section 2.4 above
shall be paid by Kraton to SNC. Invoices for such amount shall be required.

	3.	 	Other SUMFs and OMS Adjustments.

	 	3.1	 	Adjustment for Reduced Production. SNC agrees that charges directly
attributable to the production of product in Kraton’s SIS and IR plants and which are
variable or reasonably proratable under the SUMFs and OMS Agreements will be adjusted
accordingly and SNC agrees that it will waive any notice period for such reduction or
termination of services and accepts the release of Fall’s provided for in Section 2.5
provided (i) that such notice also clearly sets out Kraton’s intended reduction in
production, and (ii) it is in line with the Production and Manpower Plan.

	4.	 	Other Agreements.

	 	4.1	 	Staffing Level at CMR. The Parties agree that the current full staffing
level at the CMR for all of the Kraton Plants operated by SNC shall be deemed to be 60
FTE’s.
	 
	 	4.2	 	2007 Overdues. Kraton agrees, to the extent that any outstanding
balances from invoices submitted to Kraton by SNC in 2007 remain unpaid as of the date
of this agreement, such outstanding balances shall be paid immediately in full.
	 
	 	4.3	 	2006 Overdues. The Parties agree that any outstanding balances from
invoices submitted by SNC to Kraton in 2006 will be paid in full but that the date of
payment will be extended by SNC to October 31, 2007.

2

 

	 	4.4	 	Interest. SNC agrees to waive all accrued interest on overdue balances
from 2006.
	 
	 	4.5	 	Production and Manpower Planning. The Parties agree that they will
closely cooperate on implementing the Production and Manpower Plan for the Kraton plants
during the next two years.
	 
	 	4.6	 	Staff Councils. The implementation of this Agreement shall be subject to
consultation with the appropriate staff councils as required by contract or law. If
necessary the Parties agree to cooperate in good faith to adjust this agreement to meet
the requirements of any such consultation with the intent to retain the intentions of
the Parties as expressed in this Agreement.

	5.	 	Other Provisions of the SUMFs and OMS Agreements.

          If not otherwise covered in this Agreement, then all other provisions of the previous
SUMFs and OMS Agreements shall remain in effect.

          IN WITNESS WHEREOF, this Agreement has been executed by duly authorized representatives
of each of the Parties as of the date first above written.

	 	 	 	 	 	 	 	 	 	 	 
	Shell Nederland Chemie B.V.	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:

	 	 	 	 	 	By:	 	 	 	 
	 

	 	 
	 	 	 	 	 	 	 	 
	 

	Name:

	 	 

	 	 	 	Name:
	 	 

	 	 
	 

	 	 
	 	 	 	 	 	 	 	 
	 

	Title:

	 	 	 	 	 	Title:	 	 	 	 
	 

	 	 
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	Kraton Polymers Nederland B.V.	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:

	 	 	 	 	 	By:	 	 	 	 
	 

	 	 
	 	 	 	 	 	 	 	 
	 

	Name:

	 	 	 	 	 	Name:	 	 	 	 
	 

	 	 
	 	 	 	 	 	 	 	 
	 

	Title:

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3exv10w1

 

EXHIBIT 10.1

SECOND AMENDMENT TO THE

STERLING CHEMICALS, INC.

     AMENDED AND RESTATED SALARIED EMPLOYEES’ PENSION PLAN

     Whereas, Sterling Chemicals, Inc. (the “Corporation”) currently maintains its
Amended and Restated Salaried Employees’ Pension Plan (as amended, the “Existing Plan”);

     Whereas, pursuant to Section 16.1 of the Existing Plan, the Corporation has the right
to amend the Existing Plan in certain respects; and

     Whereas, the Corporation, as plan sponsor, desires to, and hereby elects to, modify
the Existing Plan as provided in this Second Amendment to Amended and Restated Salaried Employees’
Pension Plan (this “Amendment”);

     Now, Therefore, the Existing Plan is hereby amended as follows:

     Section 1. Amendment of Section 4.1 of the Existing Plan. Section 4.1 of the Existing
Plan is hereby amended by adding a new paragraph at the end thereof to read in its entirety as
follows:

Prior Cytec Participants who became employees of Sterling Fibers, Inc. on
January 31,1997 received credit for eligibility purposes for the service
credited to them under the Cytec Salaried and Nonbargaining Employees’
Retirement Plan.

     Section 2. Amendment of Section 11.6 of the Existing Plan. Section 11.6 of the
Existing Plan is hereby amended by amending clause (c) of the last sentence thereof to read in its
entirety as follows:

	 	(c)	 	A “qualified distributee” means a Participant, his
surviving Spouse, his Spouse or former Spouse who is an alternate payee
under a qualified domestic relations order, as defined in Code Section
414(p), or, on and after January 1, 2008, a Participant’s non-spouse
beneficiary who is his designated beneficiary within the meaning of
Code Section 401(a)(9)(E).

     Section 3. Effect of Amendments. Except as amended and modified by this Amendment,
the Existing Plan shall continue in full force and effect. The Existing Plan and this Amendment
shall be read, taken and construed as one and the same instrument. This Amendment shall supersede
any provisions of the Existing Plan to the extent those provisions are inconsistent with the
provisions of this Amendment. Upon the effectiveness of this Amendment, each reference in the
Existing Plan to “this Plan” or “the Plan” shall mean and be a reference to the Existing Plan as
amended hereby.

 

 

     Section 4. Binding Effect. This Amendment shall inure to the benefit of, and shall be
binding upon the Employers (as defined in the Existing Plan) and their successors and assigns and
upon the participants in the Existing Plan and their respective heirs, executors, personal
representatives, administrators, successors and assigns.

     Section 5. Severability. Should any clause, sentence, paragraph, subsection or
Section of this Amendment be judicially declared to be invalid, unenforceable or void, such
decision will not have the effect of invalidating or voiding the remainder of this Amendment, and
the part or parts of this Amendment so held to be invalid, unenforceable or void will be deemed to
have been stricken herefrom as if such stricken part or parts had never been included herein.

     Section 6. Governing Law. To The Extent Not Superseded By The Laws Of The United
States, This Amendment Shall Be Construed and Enforced in Accordance With, and the Rights
of the Parties Shall Be Governed By, the Internal Laws of the State of Texas, Without Reference to
Principles of Conflicts of Law. 

     In Witness Whereof, the Corporation has caused this Amendment to be duly executed in
its name and on its behalf by its proper officer thereunto duly authorized effective as of January
1, 2007.

	 	 	 	 	 
	 

	 	STERLING CHEMICALS, INC.	 	 
	 
	 
	 
	 

	 	/s/
Richard K. Crump

Richard K. Crump, President and
Chief
Executive Officer
	 	 

-2-

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