Document:

Note Purchase and Private Shelf Agreement

 Exhibit 10.1 
 Conformed Copy 
 ARCH CHEMICALS, INC. 

$75,000,000 

6.70% Series A Senior Notes due August 28, 2016 
 $150,000,000 
 Private Shelf Facility 

 
  

NOTE PURCHASE AND PRIVATE SHELF AGREEMENT 
  

 
 Dated
August 28, 2009 

 TABLE OF CONTENTS 

 

									
	 	 	 	  	 	  	Page	 
	 1.
	 	AUTHORIZATION OF NOTES	  	 	1	  
				
		 	 1.1.
	  	Authorization of Issue of Series A Notes	  	 	1	  
		 	 1.2.
	  	Authorization of Issue of Shelf Notes	  	 	1	  
		 	 1.3.
	  	Interpretation	  	 	1	  
			
	 2.
	 	SALE AND PURCHASE OF NOTES	  	 	2	  
				
		 	 2.1.
	  	Sale and Purchase of Series A Notes	  	 	2	  
		 	 2.2.
	  	Sale and Purchase of Shelf Notes	  	 	2	  
			
	 3.
	 	CLOSING	  	 	6	  
				
		 	 3.1.
	  	Series A Closing	  	 	6	  
		 	 3.2.
	  	Facility Closings	  	 	6	  
		 	 3.3.
	  	Rescheduled Facility Closings	  	 	7	  
			
	 4.
	 	CONDITIONS TO CLOSING	  	 	7	  
				
		 	 4.1.
	  	Representations and Warranties	  	 	7	  
		 	 4.2.
	  	Performance; No Default	  	 	7	  
		 	 4.3.
	  	Compliance Certificates	  	 	8	  
		 	 4.4.
	  	Opinions of Counsel	  	 	8	  
		 	 4.5.
	  	Purchase Permitted By Applicable Law, Etc	  	 	8	  
		 	 4.6.
	  	Sale of Other Notes	  	 	8	  
		 	 4.7.
	  	Payment of Fees	  	 	9	  
		 	 4.8.
	  	Private Placement Number	  	 	9	  
		 	 4.9.
	  	Changes in Corporate Structure	  	 	9	  
		 	 4.10.
	  	Funding Instructions	  	 	9	  
		 	 4.11.
	  	Proceedings and Documents	  	 	9	  
			
	 5.
	 	REPRESENTATIONS AND WARRANTIES OF THE COMPANY	  	 	9	  
				
		 	 5.1.
	  	Organization; Power and Authority	  	 	10	  
		 	 5.2.
	  	Authorization, Etc	  	 	10	  
		 	 5.3.
	  	Disclosure	  	 	10	  
		 	 5.4.
	  	Organization and Ownership of Shares of Subsidiaries; Affiliates	  	 	11	  
		 	 5.5.
	  	Financial Statements; Material Liabilities	  	 	11	  
		 	 5.6.
	  	Compliance with Laws, Other Instruments, Etc	  	 	12	  
		 	 5.7.
	  	Governmental Authorizations, Etc	  	 	13	  
		 	 5.8.
	  	Litigation; Observance of Agreements, Statutes and Orders	  	 	13	  
		 	 5.9.
	  	Taxes	  	 	13	  
		 	 5.10.
	  	Title to Property; Leases	  	 	13	  
		 	 5.11.
	  	Licenses, Permits, Etc	  	 	14	  
		 	 5.12.
	  	Compliance with ERISA	  	 	14	  
		 	 5.13.
	  	Private Offering by the Company	  	 	15	  
		 	 5.14.
	  	Use of Proceeds; Margin Regulations	  	 	15	  

  
 i 

 TABLE OF CONTENTS 

(continued) 
  

									
	 	 	 	  	 	  	Page	 
		 	 5.15.
	  	Existing Indebtedness; Future Liens	  	 	16	  
		 	 5.16.
	  	Foreign Assets Control Regulations, Etc	  	 	16	  
		 	 5.17.
	  	Status under Certain Statutes	  	 	17	  
		 	 5.18.
	  	Environmental Matters	  	 	17	  
		 	 5.19.
	  	Ranking of Obligations	  	 	17	  
			
	 6.
	 	REPRESENTATIONS OF THE PURCHASERS	  	 	17	  
				
		 	 6.1.
	  	Purchase for Investment	  	 	17	  
		 	 6.2.
	  	Source of Funds	  	 	18	  
			
	 7.
	 	INFORMATION AS TO COMPANY	  	 	19	  
				
		 	 7.1.
	  	Financial and Business Information	  	 	19	  
		 	 7.2.
	  	Officer’s Certificate	  	 	22	  
		 	 7.3.
	  	Visitation	  	 	23	  
			
	 8.
	 	PAYMENT AND PREPAYMENT OF THE NOTES	  	 	23	  
				
		 	 8.1.
	  	Required Prepayments; Maturity	  	 	23	  
		 	 8.2.
	  	Optional Prepayments with Make-Whole Amount	  	 	24	  
		 	 8.3.
	  	Allocation of Partial Prepayments	  	 	24	  
		 	 8.4.
	  	Maturity; Surrender, Etc	  	 	24	  
		 	 8.5.
	  	Purchase of Notes	  	 	24	  
		 	 8.6.
	  	Make-Whole Amount	  	 	25	  
		 	 8.7.
	  	Prepayment Upon Change in Control	  	 	26	  
		 	 8.8.
	  	Prepayment in Connection with an Asset Disposition	  	 	27	  
			
	 9.
	 	AFFIRMATIVE COVENANTS	  	 	28	  
				
		 	 9.1.
	  	Compliance with Law	  	 	28	  
		 	 9.2.
	  	Insurance	  	 	28	  
		 	 9.3.
	  	Maintenance of Properties	  	 	28	  
		 	 9.4.
	  	Payment of Taxes and Claims	  	 	29	  
		 	 9.5.
	  	Corporate Existence, Etc	  	 	29	  
		 	 9.6.
	  	Books and Records	  	 	29	  
		 	 9.7.
	  	Additional Financial Covenants	  	 	29	  
			
	 10.
	 	NEGATIVE COVENANTS	  	 	30	  
				
		 	 10.1.
	  	Transactions with Affiliates	  	 	30	  
		 	 10.2.
	  	Fundamental Changes	  	 	31	  
		 	 10.3.
	  	Lines of Business	  	 	31	  
		 	 10.4.
	  	Terrorism Sanctions Regulations	  	 	31	  
		 	 10.5.
	  	Liens	  	 	31	  
		 	 10.6.
	  	Priority Debt	  	 	32	  
		 	 10.7.
	  	Swap Agreements	  	 	32	  

  
 ii 

 TABLE OF CONTENTS 

(continued) 
  

									
	 	 	 	  	 	  	Page	 
		 	 10.8.
	  	Restricted Payments.	  	 	32	  
		 	 10.9.
	  	Disposition of Property	  	 	33	  
		 	 10.10.
	  	Sales and Leasebacks	  	 	34	  
		 	 10.11.
	  	Changes in Fiscal Periods	  	 	34	  
		 	 10.12.
	  	Financial Covenants	  	 	34	  
		 	 10.13.
	  	Acquisitions	  	 	34	  
			
	 11.
	 	EVENTS OF DEFAULT	  	 	34	  
			
	 12.
	 	REMEDIES ON DEFAULT, ETC	  	 	36	  
				
		 	 12.1.
	  	Acceleration	  	 	36	  
		 	 12.2.
	  	Other Remedies	  	 	37	  
		 	 12.3.
	  	Rescission	  	 	37	  
		 	 12.4.
	  	No Waivers or Election of Remedies, Expenses, Etc	  	 	37	  
			
	 13.
	 	REGISTRATION; EXCHANGE; SUBSTITUTION OF NOTES	  	 	38	  
				
		 	 13.1.
	  	Registration of Notes	  	 	38	  
		 	 13.2.
	  	Transfer and Exchange of Notes	  	 	38	  
		 	 13.3.
	  	Replacement of Notes	  	 	39	  
			
	 14.
	 	PAYMENTS ON NOTES	  	 	39	  
				
		 	 14.1.
	  	Place of Payment	  	 	39	  
		 	 14.2.
	  	Home Office Payment	  	 	39	  
			
	 15.
	 	EXPENSES, ETC	  	 	40	  
				
		 	 15.1.
	  	Transaction Expenses	  	 	40	  
		 	 15.2.
	  	Survival	  	 	40	  
			
	 16.
	 	SURVIVAL OF REPRESENTATIONS AND WARRANTIES; ENTIRE AGREEMENT	  	 	40	  
			
	 17.
	 	AMENDMENT AND WAIVER	  	 	41	  
				
		 	 17.1.
	  	Requirements	  	 	41	  
		 	 17.2.
	  	Solicitation of Holders of Notes	  	 	41	  
		 	 17.3.
	  	Binding Effect, Etc	  	 	42	  
		 	 17.4.
	  	Notes Held by Company, Etc	  	 	42	  
			
	 18.
	 	NOTICES	  	 	42	  
			
	 19.
	 	REPRODUCTION OF DOCUMENTS	  	 	43	  

  
 iii

 TABLE OF CONTENTS 

(continued) 
  

									
	 	 	 	  	 	  	Page	 
	 20.
	 	CONFIDENTIAL INFORMATION	  	 	44	  
			
	 21.
	 	SUBSTITUTION OF PURCHASER	  	 	45	  
			
	 22.
	 	MISCELLANEOUS	  	 	45	  
				
		 	 22.1.
	  	Successors and Assigns	  	 	45	  
		 	 22.2.
	  	Payments Due on Non-Business Days	  	 	45	  
		 	 22.3.
	  	Accounting Terms	  	 	45	  
		 	 22.4.
	  	Severability	  	 	46	  
		 	 22.5.
	  	Construction, Etc	  	 	46	  
		 	 22.6.
	  	Counterparts	  	 	46	  
		 	 22.7.
	  	Governing Law	  	 	46	  
		 	 22.8.
	  	Jurisdiction and Process; Waiver of Jury Trial	  	 	47	  

  
 iv 

 INFORMATION SCHEDULE – AUTHORIZED OFFICERS

  

					
	 SCHEDULE A
	 	—	    	INFORMATION RELATING TO PURCHASERS
			
	 SCHEDULE B
	 	—	    	DEFINED TERMS
			
	 Exhibit 1-A
	 	—	    	Form of 6.70% Series A Senior Note due August 28, 2016
			
	 Exhibit 1-B
	 	—	    	Form of Shelf Note
			
	 Exhibit 2
	 	—	    	Form of Request for Purchase
			
	 Exhibit 3
	 	—	    	Form of Confirmation of Acceptance
			
	 Exhibit 4.4(a)
	 	—	    	Form of Opinion of Special Virginia Counsel to the Company
			
	 Exhibit 4.4(b)
	 	—	    	Form of Opinion of General Counsel of the Company
			
	 Exhibit 4.4(c)
	 	—	    	Form of Opinion of Special Counsel to the Company
			
	 Exhibit 4.4(d)
	 	—	    	Form of Opinion of Special Counsel to the Purchasers
			
	 Schedule 5.4
	 	—	    	Subsidiaries of the Company and Ownership of Subsidiary Stock
			
	 Schedule 5.15
	 	—	    	Existing Indebtedness
			
	 Schedule 10.5
	 	—	    	Existing Liens

 ARCH CHEMICALS, INC. 

$75,000,000 6.70% Series A Senior Notes due August 28, 2016 

$150,000,000 Private Shelf Facility 
 August 28, 2009 
 To Each of the Purchasers Listed in 

Schedule A Hereto (each a “Series A Purchaser”) 
 TO PRUDENTIAL INVESTMENT MANAGEMENT, INC. (“Prudential”) 

TO EACH OTHER PRUDENTIAL AFFILIATE WHICH BECOMES

 BOUND BY THIS AGREEMENT AS
HEREINAFTER 
 PROVIDED (TOGETHER WITH THE
SERIES A PURCHASERS, EACH, 
 a “Purchaser” and
collectively, the “Purchasers”): 
 Ladies and Gentlemen: 

Arch Chemicals, Inc., a Virginia corporation (the “Company”), agrees with Prudential and each of the Purchasers as
follows: 
 1. AUTHORIZATION OF NOTES. 
 1.1. Authorization of Issue of Series A Notes. The Company will authorize the issue and sale of $75,000,000 aggregate principal amount of its 6.70% Series A Senior Notes due August 28, 2016
(the “Series A Notes”, such term to include any such notes issued in substitution therefor pursuant to Section 13). The Series A Notes shall be substantially in the form set out in Exhibit 1-A. 

1.2. Authorization of Issue of Shelf Notes. The Company may authorize the issue of its additional senior promissory notes (the
“Shelf Notes”, such term to include any such notes issued in substitution thereof pursuant to Section 13) in the aggregate principal amount of $75,000,000, to be dated the date of issue thereof, to mature, in the case of each
Shelf Note so issued, no more than ten years after the date of original issuance thereof, to have an average life, in the case of each Shelf Note so issued, of no more than seven years after the date of original issuance thereof, to bear interest on
the unpaid balance thereof from the date thereof at the rate per annum specified in such Note, and to have such other particular terms, as shall be set forth, in the case of each Shelf Note so issued, in the Confirmation of Acceptance with respect
to such Note delivered pursuant to Section 2.2(e), to be substantially in the form of Exhibit 1-B attached hereto. 

1.3. Interpretation. Certain capitalized and other terms used in this Agreement are defined in Schedule B; and references to a
“Schedule” or an “Exhibit” are, unless otherwise specified, to a Schedule or an Exhibit attached to this Agreement. The terms “Note” and “Notes” as used herein shall include each Series A Note and each Shelf
Note delivered pursuant to any provision of this Agreement and each Note delivered in substitution or exchange for any such 

 
Note pursuant to any such provision. Notes which have (i) the same final maturity, (ii) the same principal prepayment dates, (iii) the same principal prepayment amounts (as a
percentage of the original principal amount of each Note), (iv) the same interest rate, (v) the same interest payment periods and (vi) the same date of issuance (which, in the case of a Note issued in exchange for another Note, shall
be deemed for these purposes the date on which such Note’s ultimate predecessor Note was issued), are herein called a “Series” of Notes. 
 2. SALE AND PURCHASE OF NOTES. 
 2.1. Sale and Purchase of Series A
Notes. Subject to the terms and conditions of this Agreement, the Company will issue and sell to each Series A Purchaser and each such Purchaser will purchase from the Company, at the Closing provided for in Section 3.1, Series A Notes in
the principal amount specified opposite such Purchaser’s name in Schedule A at the purchase price of 100% of the principal amount thereof. The Purchasers’ obligations hereunder are several and not joint obligations and no Purchaser
shall have any liability to any Person for the performance or non-performance of any obligation by any other Purchaser hereunder. 
 2.2. Sale and Purchase of Shelf Notes. 
 (a)
Facility. Prudential is willing to consider, in its sole discretion and within limits which may be authorized for purchase by Prudential Affiliates from time to time, the purchase of Shelf Notes pursuant to this Agreement. The willingness of
Prudential to consider such purchase of Shelf Notes is herein called the “Facility”. At any time, the aggregate principal amount of Shelf Notes stated in Section 1.2, minus the aggregate principal amount of Shelf Notes
purchased and sold pursuant to this Agreement prior to such time, minus the aggregate principal amount of Accepted Notes (as hereinafter defined) which have not yet been purchased and sold hereunder prior to such time, is herein called the
“Available Facility Amount” at such time. NOTWITHSTANDING THE WILLINGNESS OF PRUDENTIAL TO CONSIDER PURCHASES OF SHELF NOTES BY PRUDENTIAL AFFILIATES, THIS AGREEMENT IS ENTERED INTO ON THE EXPRESS UNDERSTANDING THAT NEITHER
PRUDENTIAL NOR ANY PRUDENTIAL AFFILIATE SHALL BE OBLIGATED TO MAKE OR ACCEPT OFFERS TO PURCHASE SHELF NOTES, OR TO QUOTE RATES, SPREADS OR OTHER TERMS WITH RESPECT TO SPECIFIC PURCHASES OF SHELF NOTES, AND THE FACILITY SHALL IN NO WAY BE CONSTRUED
AS A COMMITMENT BY PRUDENTIAL OR ANY PRUDENTIAL AFFILIATE. 
 (b) Issuance Period. Shelf Notes may be
issued and sold pursuant to this Agreement until the earlier of (i) the third anniversary of the date of this Agreement (or if such anniversary date is not a Business Day, the Business Day next preceding such anniversary) and (ii) the
thirtieth day after Prudential shall have given to the Company, or the Company shall have given to Prudential, a written notice stating that it elects to terminate the issuance and sale of Shelf Notes pursuant to this Agreement (or if such thirtieth
day is not a Business Day, the Business Day next preceding such thirtieth day). The period during which Shelf Notes may be issued and sold pursuant to this Agreement is herein called the “Issuance Period”. 

  
 -2-

 (c) Request for Purchase. The Company may from time to time during
the Issuance Period make requests for purchases of Shelf Notes (each such request being herein called a “Request for Purchase”). Each Request for Purchase shall be made to Prudential either electronically, by facsimile transmission
or overnight delivery service, and shall (i) specify the aggregate principal amount of Shelf Notes covered thereby, which shall not be less than $5,000,000 and not be greater than the Available Facility Amount at the time such Request for
Purchase is made, (ii) specify the principal amounts, final maturities (which shall be no more than ten years from the date of issuance), average life (which shall be no more than seven years from the date of issuance), principal prepayment
dates and amounts and interest payment periods (quarterly or semi-annually in arrears) of the Shelf Notes covered thereby, (iii) specify the use of proceeds of such Shelf Notes (which may not be used for funding a Hostile Tender Offer),
(iv) specify the proposed day for the closing of the purchase and sale of such Shelf Notes, which shall be a Business Day during the Issuance Period not less than 10 days and not more than 20 days after the making of such Request for Purchase,
(v) specify the number of the account and the name and address of the depository institution to which the purchase prices of such Shelf Notes are to be transferred on the Closing Day for such purchase and sale, (vi) certify that the
representations and warranties contained in Section 5 (as qualified by any supplemental disclosure included in an exhibit to such Request for Purchase) are true on and as of the date of such Request for Purchase and that there exists on the
date of such Request for Purchase no Event of Default or Default, and (vii) be substantially in the form of Exhibit 2 attached hereto. Each Request for Purchase shall be in writing signed by the Company and shall be deemed made when
received by Prudential. 
 (d) Rate Quotes. Not later than five Business Days after the Company shall have
given Prudential a Request for Purchase pursuant to Section 2.2(c), Prudential may, but shall be under no obligation to, provide to the Company by telephone or telecopier, in each case between 9:30 A.M. and 1:30 P.M. New York City local time
(or such later time as Prudential may elect) interest rate quotes for the principal amounts, maturities, principal prepayment schedules, and interest payment periods of Shelf Notes specified in such Request for Purchase (each such interest rate
quote provided in response to a Request for Purchase herein called a “Quotation”). Each Quotation shall represent the interest rate per annum payable on the outstanding principal balance of such Shelf Notes at which Prudential or a
Prudential Affiliate would be willing to purchase such Shelf Notes at 100% of the principal amount thereof. 

(e) Acceptance. Within the Acceptance Window, an Authorized Officer of the Company may, subject to
Section 2.2(f), elect to accept on behalf of the Company a Quotation as to the aggregate principal amount of the Shelf Notes specified in the related Request for Purchase, either by telephone or facsimile transmission to Prudential (each such
Shelf Note being herein called an “Accepted Note” and such acceptance being herein called an “Acceptance”). The day the Company notifies Prudential of an Acceptance with respect to any Accepted Notes is herein
called the “Acceptance Day” for such Accepted Notes. Any Quotation as to which Prudential does not receive an Acceptance within the Acceptance Window shall expire, and no purchase or sale of Shelf Notes hereunder shall be made based
on any such expired Quotation. Subject to Section 

  
 -3-

 
2.2(f) and the other terms and conditions hereof, the Company agrees to sell to a Prudential Affiliate, and Prudential agrees to cause the purchase by a Prudential Affiliate of, the Accepted
Notes at 100% of the principal amount of such Notes. As soon as practicable following the Acceptance Day, the Company, Prudential and each Prudential Affiliate which is to purchase any such Accepted Notes will execute a confirmation of such
Acceptance substantially in the form of Exhibit 3 attached hereto (herein called a “Confirmation of Acceptance”). If the Company should fail to execute and return to Prudential within three Business Days following the
Company’s receipt thereof a Confirmation of Acceptance with respect to any Accepted Notes, Prudential may at its election at any time prior to Prudential’s receipt thereof cancel the closing with respect to such Accepted Notes by so
notifying the Company in writing. 
 (f) Market Disruption. Notwithstanding the provisions of
Section 2.2(e), any Quotation provided pursuant to Section 2.2(d) shall expire if, prior to the time an Acceptance with respect to such Quotation shall have been notified to Prudential in accordance with Section 2.2(e), in the case of
any Shelf Notes, the domestic market for U.S. Treasury securities or derivatives shall have closed or there shall have occurred a general suspension, material limitation, or significant disruption of trading in securities generally on the New York
Stock Exchange or in the domestic market for U.S. Treasury securities or derivatives. No purchase or sale of Shelf Notes hereunder shall be made based on such expired Quotation. If the Company thereafter notifies Prudential of the Acceptance of any
such Quotation, such Acceptance shall be ineffective for all purposes of this Agreement, and Prudential shall promptly notify the Company that the provisions of this Section 2.2(f) are applicable with respect to such Acceptance. 

(g) Fees. 
 (i) Delayed Delivery Fee. If the closing of the purchase and sale of any Accepted Note is delayed for any reason beyond the original Closing Day for such Accepted Note, the Company will pay to each
Purchaser which shall have agreed to purchase such Accepted Note on the Cancellation Date or actual closing date of such purchase and sale, an amount (herein called the “Delayed Delivery Fee”) calculated as follows: 

(BEY - MMY) X DTS/360 X PA 
 where “BEY” means Bond Equivalent Yield, i.e., the bond equivalent yield per annum of such Accepted Note; “MMY” means Money Market Yield, i.e., the yield
per annum on a commercial paper investment of the highest quality selected by Prudential on the date Prudential receives notice of the delay in the closing for such Accepted Note having a maturity date or dates the same as, or closest to, the
Rescheduled Closing Day or Rescheduled Closing Days for such Accepted Note (a new alternative investment being selected by Prudential each time such closing is delayed); “DTS” means Days to Settlement, i.e., the number of
actual days elapsed from and including the original Closing Day with respect to such Accepted Note (in the case of the first such payment with respect to such Accepted Note) or from and including the date of the next preceding payment (in

  
 -4-

 
the case of any subsequent Delayed Delivery Fee payment with respect to such Accepted Note) to but excluding the date of such payment; and “PA” means Principal Amount,
i.e., the principal amount of the Accepted Note for which such calculation is being made. 
 In no case shall the Delayed
Delivery Fee be less than zero. Nothing contained herein shall obligate any Purchaser to purchase any Accepted Note on any day other than the Closing Day for such Accepted Note, as the same may be rescheduled from time to time in compliance with
Section 3.3. If all conditions to Closing set forth in Section 4 hereof have been satisfied on the original Closing Day for any Accepted Notes (other than (x) Section 4.4(d) unless the Company shall have failed to comply with any
reasonable request of the Purchasers or their special counsel to provide information necessary for the Purchasers’ special counsel to deliver the opinion required by such clause (d) and (y) Section 4.5 unless the Company shall
have failed to comply with the request of any Purchaser pursuant to the last sentence of such Section) and a Purchaser fails to purchase such Accepted Notes, the Company shall have no obligation to pay the Delayed Delivery Fee with respect to such
Accepted Notes. 
 (ii) Cancellation Fee. If (1) the Company at any time notifies Prudential in
writing that the Company is canceling the closing of the purchase and sale of any Accepted Note, (2) Prudential notifies the Company in writing under the circumstances set forth in the last sentence of Section 2.2(e) or the penultimate
sentence of Section 3.3 that the closing of the purchase and sale of such Accepted Note is to be canceled, or (3) the closing of the purchase and sale of such Accepted Note is not consummated on or prior to the last day of the Issuance
Period (the date of any such notification, or the last day of the Issuance Period, as the case may be, being herein called the “Cancellation Date”), the Company will pay to each Purchaser which shall have agreed to purchase such
Accepted Note no later than one Business Day after the Cancellation Date in immediately available funds an amount (the “Cancellation Fee”) calculated as follows: 

PI X PA 
 where
“PI” means Price Increase, i.e., the quotient (expressed in decimals) obtained by dividing (a) the excess, if any, of the ask price (as determined by Prudential) of the Hedge Treasury Note(s) on the Cancellation Date
over the bid price (as determined by Prudential) of the Hedge Treasury Notes(s) on the Acceptance Day for such Accepted Note by (b) such bid price; and “PA” has the meaning ascribed to it in Section 2.2(g)(i). The
foregoing bid and ask prices shall be as reported on TradeWeb LLC, or if such information ceases to be available on TradeWeb LLC, any publicly available source of such market data selected by Prudential, and rounded to the second decimal place.

 In no case shall the Cancellation Fee be less than zero. In the case of Section 2.2(g)(ii)(3) only, the Company shall not
be required to pay the Cancellation Fee 

  
 -5-

 
with respect to a cancellation of the closing of the purchase and sale of an Accepted Note if all conditions to Closing set forth in Section 4 hereof have been satisfied for such cancelled
closing with respect to such Accepted Note (other than (x) Section 4.4(d) unless the Company or any Subsidiary Guarantor shall have failed to comply with any reasonable requests of the Purchasers or their special counsel to provide
information necessary for the Purchasers’ special counsel to deliver the opinion required by such clause (d), (y) Section 4.5 unless the Company shall have failed to comply with the request of any Purchaser pursuant to the last
sentence of such Section and (z) Section 4.6 if the Company’s failure to sell an Accepted Note results from another Purchaser refusing to purchase or being unable to purchase an Accepted Note for any reason specified in
Section 4.5 unless the Company shall have failed to comply with the request of any Purchaser pursuant to the last sentence of such Section 4.5). 
 3. CLOSING. 
 3.1. Series A Closing. The sale and purchase of the
Series A Notes to be purchased by each Series A Purchaser shall occur at the offices of Bingham McCutchen LLP, 399 Park Avenue, New York, New York, at 10:00 A.M., New York City local time, at a closing (the “Series A Closing”) on
August 28, 2009 or on such other Business Day thereafter on or prior to August 31, 2009 as may be agreed upon by the Company and the Series A Purchasers (the day of the Series A Closing hereinafter referred to as the “Series A
Closing Day”). At the Series A Closing the Company will deliver to each Series A Purchaser the Series A Notes to be purchased by such Purchaser in the form of a single Series A Note (or such greater number of Series A Notes in denominations
of at least $100,000 as such Purchaser may request) dated the date of the Series A Closing and registered in such Purchaser’s name (or in the name of its nominee), against delivery by such Purchaser to the Company or its order of immediately
available funds in the amount of the purchase price therefor by wire transfer of immediately available funds for the account of the Company to account number 323-265278 at JP Morgan Chase Bank, N.A., New York, New York, ABA Routing Number: 021 000
021, for the benefit of Arch Chemicals, Inc., Account Officer: Honor Mallon, telephone number: 212-552-2469, fax number: 212-383-0696. If at the Series A Closing the Company shall fail to tender such Series A Notes to any Series A Purchaser as
provided above in this Section 3.1, or any of the conditions specified in Section 4 shall not have been fulfilled to such Purchaser’s satisfaction, such Purchaser shall, at its election, be relieved of all further obligations under
this Agreement, without thereby waiving any rights such Purchaser may have by reason of such failure or such nonfulfillment. The Series A Closing and each Shelf Closing are hereafter sometimes each referred to as a “Closing”. 

3.2. Facility Closings. Not later than 11:30 A.M. (New York City local time) on the Closing Day for any Accepted Notes, the
Company will deliver to each Purchaser listed in the Confirmation of Acceptance relating thereto at the offices of Prudential Capital Group, 1114 Avenue of the Americas, 30th Floor, New York, NY 10036, Attention: Law Department or at such other
place pursuant to the directions of Prudential, the Accepted Notes to be purchased by such Purchaser in the form of one or more Notes in authorized denominations as such Purchaser may request for each Series of Accepted Notes to be purchased on the
Closing Day, dated the Closing Day and registered in such Purchaser’s name (or in the name of its nominee), against 

  
 -6-

 
payment of the purchase price thereof by transfer of immediately available funds for credit to the Company’s account specified in the Request for Purchase of such Notes. 

3.3. Rescheduled Facility Closings. If the Company fails to tender to any Purchaser the Accepted Notes to be purchased by such
Purchaser on the scheduled Closing Day for such Accepted Notes as provided above in Section 3.2, or any of the conditions specified in Section 4 shall not have been fulfilled by the time required on such scheduled Closing Day, the Company
shall, prior to 1:00 P.M., New York City local time, on such scheduled Closing Day notify Prudential (which notification shall be deemed received by each Purchaser) in writing whether (i) such closing is to be rescheduled (such rescheduled date
to be a Business Day during the Issuance Period not less than one Business Day and not more than 10 Business Days after such scheduled Closing Day (the “Rescheduled Closing Day”)) and certify to Prudential (which certification shall
be for the benefit of each Purchaser) that the Company reasonably believes that it will be able to comply with the conditions set forth in Section 4 on such Rescheduled Closing Day and that the Company will pay the Delayed Delivery Fee in
accordance with Section 2.2(g)(i) or (ii) such closing is to be canceled. In the event that the Company shall fail to give such notice referred to in the second preceding sentence, Prudential (on behalf of each Purchaser) may at its
election, at any time after 1:00 P.M., New York City local time, on such scheduled Closing Day, notify the Company in writing that such closing is to be canceled. Notwithstanding anything to the contrary appearing in this Agreement, the Company may
not elect to reschedule a closing with respect to any given Accepted Notes on more than one occasion, unless Prudential shall have otherwise consented in writing. 
 4. CONDITIONS TO CLOSING. 
 Each Purchaser’s obligation to purchase and
pay for the Notes to be sold to such Purchaser at the Closing for such Notes is subject to the fulfillment to such Purchaser’s satisfaction, prior to or at such Closing, of the following conditions: 

4.1. Representations and Warranties. 
 The representations and warranties of the Company in this Agreement shall be correct when made and at the time of the applicable Closing (except to the extent of changes caused by the transactions herein
contemplated). 
 4.2. Performance; No Default. 
 The Company shall have performed and complied with all agreements and conditions contained in this Agreement required to be performed or complied with by it prior to or at such Closing and after giving
effect to the issue and sale of the Notes (and the application of the proceeds thereof as contemplated by Section 5.14) no Default or Event of Default shall have occurred and be continuing. With respect to the Series A Closing only, neither the
Company nor any Subsidiary shall have entered into any transaction since December 31, 2008 that would have been prohibited by Sections 10.1, 10.2 or 10.9 had such Sections applied since such date. 

  
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 4.3. Compliance Certificates. 

(a) Officer’s Certificate. The Company shall have delivered to such Purchaser an Officer’s Certificate,
dated the date of such Closing, certifying that the conditions specified in Sections 4.1, 4.2 and 4.9 have been fulfilled. 
 (b) Secretary’s Certificate. The Company shall have delivered to such Purchaser a certificate of its Secretary or an Assistant Secretary, dated the date of such Closing, certifying as to the
resolutions attached thereto and other corporate proceedings relating to the authorization, execution and delivery of the Notes and this Agreement. 
 4.4. Opinions of Counsel. 
 Such Purchaser shall have received opinions in
form and substance satisfactory to such Purchaser, dated the date of such Closing (a) from Hunton & Williams LLP, special Virginia counsel to the Company, substantially in the form set forth in Exhibit 4.4(a) and covering such other
matters incident to the transactions contemplated hereby as such Purchaser or its counsel may reasonably request (and the Company hereby instructs its counsel to deliver such opinion to the Purchasers), (b) from Sarah A. O’Connor, General
Counsel of the Company, substantially in the form set forth in Exhibit 4.4(b) and covering such other matters incident to the transactions contemplated hereby as such Purchaser or its counsel may reasonably request, (c) from Cravath,
Swaine & Moore LLP, special counsel to the Company, substantially in the form set forth in Exhibit 4.4(c) and covering such other matters incident to the transactions contemplated hereby as such Purchaser or its counsel may reasonably
request (and the Company hereby instructs its counsel to deliver such opinion to the Purchasers), and (d) from Bingham McCutchen LLP, the Purchasers’ special counsel in connection with such transactions, substantially in the form set forth
in Exhibit 4.4(d) and covering such other matters incident to such transactions as such Purchaser may reasonably request. 

4.5. Purchase Permitted By Applicable Law, Etc. 
 On the date of such Closing such Purchaser’s purchase of Notes shall (a) be permitted by the laws and regulations of each jurisdiction to which such Purchaser is subject, without recourse to
provisions (such as section 1405(a)(8) of the New York Insurance Law) permitting limited investments by insurance companies without restriction as to the character of the particular investment, (b) not violate any applicable law or
regulation (including, without limitation, Regulation T, U or X of the Board of Governors of the Federal Reserve System) and (c) not subject such Purchaser to any tax, penalty or liability under or pursuant to any applicable law or regulation,
which law or regulation was not in effect on the date hereof. If requested by such Purchaser, such Purchaser shall have received an Officer’s Certificate certifying as to such matters of fact as such Purchaser may reasonably specify to enable
such Purchaser to determine whether such purchase is so permitted. 
 4.6. Sale of Other Notes. 

Contemporaneously with such Closing the Company shall sell to each other Purchaser and each other Purchaser shall purchase the Notes to be
purchased by it at such Closing as 

  
 -8-

 
specified in Schedule A (in the case of the Series A Notes) or the applicable Confirmation of Acceptance (in the case of Shelf Notes). 

4.7. Payment of Fees. 
 (a) Without limiting the provisions of Section 15.1, the Company shall have paid to Prudential and each Purchaser on or before such Closing any reasonable fees due pursuant to or in connection with
this Agreement, including any Delayed Delivery Fee due pursuant to Section 2.2(g)(i). 
 (b) Without limiting the
provisions of Section 15.1, the Company shall have paid on or before such Closing the reasonable fees, charges and disbursements of the Purchasers’ special counsel referred to in Section 4.4 to the extent reflected in a statement of
such counsel rendered to the Company at least one Business Day prior to such Closing. 
 4.8. Private Placement Number.

 A Private Placement Number issued by Standard & Poor’s CUSIP Service Bureau (in cooperation with the SVO) shall
have been obtained for such Notes. 
 4.9. Changes in Corporate Structure. 

Following the date of the most recent financial statements referred to in Section 5.5, the Company shall not have changed its
jurisdiction of incorporation or organization, as applicable, and prior to the Series A Closing, the Company shall not have been a party to any merger or consolidation or succeeded to all or any substantial part of the liabilities of any other
entity. 
 4.10. Funding Instructions. 
 With respect to the Series A Closing only, at least three Business Days prior to the date of such Closing, each Purchaser shall have received written instructions signed by a Responsible Officer on
letterhead of the Company confirming the information specified in Section 3.1 including (a) the name and address of the transferee bank, (b) such transferee bank’s ABA number and (c) the account name and number into which
the purchase price for the Notes is to be deposited. 
 4.11. Proceedings and Documents. 

All corporate and other proceedings in connection with the transactions contemplated by this Agreement and all documents and instruments
incident to such transactions shall be satisfactory to such Purchaser and its special counsel, acting reasonably, and such Purchaser and its special counsel shall have received all such counterpart originals or certified or other copies of such
documents as such Purchaser or such special counsel may reasonably request. 
 5. REPRESENTATIONS AND WARRANTIES OF THE COMPANY.

 The Purchasers and the holders of the Notes recognize and acknowledge that the Company may supplement the following
representations and warranties in this Section 5, 

  
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including the Schedules related thereto, pursuant to a Request for Purchase; provided that no such supplement to any representation or warranty applicable to any particular Closing Day shall
change or otherwise modify or be deemed or construed to change or otherwise modify any representation or warranty given on any prior Closing Day or any determination of the falseness or inaccuracy thereof pursuant to Section 11(e). The Company
represents and warrants to each Purchaser that: 
 5.1. Organization; Power and Authority. 

The Company is a corporation duly organized, validly existing and, where legally applicable, in good standing under the laws of its
jurisdiction of incorporation, and is duly qualified as a foreign corporation and is in good standing in each jurisdiction in which such qualification is required by law, other than those jurisdictions as to which the failure to be so qualified or
in good standing could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. The Company has the corporate power and authority to own or hold under lease the properties it purports to own or hold under
lease, to transact the business it transacts and proposes to transact, to execute and deliver this Agreement and the Notes and to perform the provisions hereof and thereof. 
 5.2. Authorization, Etc. 
 This Agreement and the Notes have been duly
authorized by all necessary corporate action on the part of the Company, and this Agreement constitutes, and upon execution and delivery thereof each Note will constitute, a legal, valid and binding obligation of the Company enforceable against the
Company in accordance with its terms, except as such enforceability may be limited by (i) applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and
(ii) general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law). 
 5.3. Disclosure. 
 This Agreement and the documents, certificates or other
writings delivered to the Purchasers by or on behalf of the Company in connection with the transactions contemplated hereby (excluding information specifically identified as being from a third party source which the Company has no reason to believe
is inaccurate) and the financial statements described in Section 5.5 (this Agreement and such documents, certificates or other writings, and financial statements delivered to each Purchaser prior to the applicable Closing Day being referred to,
collectively, as the “Disclosure Documents”), taken as a whole, do not contain any untrue statement of a material fact or omit to state any material fact necessary to make the statements therein not misleading in light of the
circumstances under which they were made; provided that, with respect to projected financial information, the Company represents only that such information was prepared in good faith based upon assumptions believed to be reasonable at the
time. Except as disclosed in the Disclosure Documents, since the end of the most recent fiscal year for which audited financial statements have been furnished there has been no change in the financial condition, operations, business or properties of
the Company or any Subsidiary except changes that individually or in the aggregate could not reasonably be expected to have a Material Adverse Effect. There is no fact known to the Company that would reasonably be expected to

  
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have a Material Adverse Effect that has not been set forth herein or in the Disclosure Documents. For the purposes of this Section 5.3, the Disclosure Documents shall be deemed to include
all filings made with, or furnished to, the Securities and Exchange Commission by the Company pursuant to sections 13 or 15(d) of the Exchange Act, and the Company shall be deemed to have made delivery of any such Disclosure Document if it shall
have timely made such Disclosure Document available on the Securities and Exchange Commission’s Electronic Data Gathering Analysis, and Retrieval system, or its successor thereto (“EDGAR”). 

5.4. Organization and Ownership of Shares of Subsidiaries; Affiliates. 

(a) Schedule 5.4 contains (except as noted therein) complete and correct lists of the Company’s Subsidiaries,
showing, as to each Subsidiary, the correct name thereof, the jurisdiction of its organization, and the percentage of shares of each class of its Capital Stock outstanding owned by the Company and each other Subsidiary or an Affiliate of the
Company. 
 (b) All of the outstanding shares of Capital Stock of each Subsidiary have been validly issued, are,
where legally applicable, fully paid and nonassessable and are owned by the Company, another Subsidiary or an Affiliate of the Company free and clear of any Lien (except as otherwise disclosed in Schedule 5.4 or permitted by Section 10.5).

 (c) Each Subsidiary is a corporation or other legal entity duly organized, validly existing and, where legally
applicable: (i) is in good standing under the laws of its jurisdiction of organization, (ii) is duly qualified as a foreign corporation or other legal entity and (iii) is in good standing in each jurisdiction in which such
qualification is required by law, other than those jurisdictions as to which the failure to be so qualified or in good standing would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. Each such
Subsidiary has the corporate or other power and authority, in all material respects, to own or hold under lease the properties it purports to own or hold under lease and to transact the business it transacts and proposes to transact. 

(d) No Material Subsidiary is a party to, or otherwise subject to any legal, regulatory, contractual or other restriction
(other than this Agreement, the agreements listed on Schedule 5.4 and limitations imposed by corporate law or other statutes) restricting the ability of such Subsidiary to pay dividends out of profits or make any other similar distributions of
profits to the Company or any of its Subsidiaries that owns outstanding shares of capital stock or similar equity interests of such Subsidiary. 
 5.5. Financial Statements; Material Liabilities. 
 The Company has delivered
to each Purchaser of the Series A Notes and any Accepted Notes the following financial statements identified by a principal financial officer of the Company: (a) a consolidated balance sheet of the Company and its Subsidiaries as at
December 31 in each of the three fiscal years of the Company most recently completed prior to the date as of which this representation is made or repeated to such Purchaser (other than fiscal years completed within 90 days prior to such date
for which audited financial statements have not been 

  
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released) and consolidated statements of income, cash flows and shareholders’ equity of the Company and its Subsidiaries for each such year, all reported on by KPMG LLP or any other
nationally recognized independent registered public accounting firm and (ii) a consolidated balance sheet of the Company and its Subsidiaries as at the end of the quarterly period (if any) most recently completed prior to such date and after
the end of such fiscal year (other than quarterly periods completed within 45 days prior to such date for which financial statements have not been released), consolidated statements of income and cash flows for the periods from the beginning of the
fiscal years in which such quarterly periods are included to the end of such quarterly periods, a consolidated statement of income for such quarterly period, and consolidated balance sheets, statements of income and cash flows for the corresponding
period or periods of (or, in the case of the balance sheet, as of the end of) the previous fiscal year, prepared by the Company. All of said financial statements (including in each case the related schedules and notes) fairly present in all material
respects the consolidated financial position of the Company and its Subsidiaries as of the respective dates thereof and the consolidated results of their operations and cash flows for the respective periods indicated and have been prepared in
accordance with GAAP consistently applied throughout the periods involved except as set forth in the notes thereto (subject, in the case of any interim financial statements, to normal year-end adjustments). The Company and its Subsidiaries do not
have any Material liabilities that are not disclosed on such financial statements or otherwise disclosed in the Disclosure Documents. Delivery within the time periods specified above of the Company’s Annual Report on Form 10-K or Quarterly
Report on Form 10-Q, as applicable, each prepared in accordance with the requirements therefor and filed with the Securities and Exchange Commission shall be deemed to satisfy the requirements of this Section 5.5; provided,
further, that the Company shall be deemed to have made such delivery of such Form 10-K or Form 10-Q, as applicable, if it shall have timely made such document available on the Securities and Exchange Commission’s EDGAR system, or its
successor thereto. 
 5.6. Compliance with Laws, Other Instruments, Etc. 

The execution, delivery and performance by the Company of this Agreement and the Notes will not (a) contravene, result in any breach
of, or constitute a default under, or result in the creation of any Lien in respect of any property of the Company or any Subsidiary under, any indenture, mortgage, deed of trust, loan, purchase or credit agreement, lease, corporate charter or
by-laws, or any other agreement or instrument to which the Company or any Subsidiary is bound or by which the Company or any Subsidiary or any of their respective properties may be bound or affected, (b) conflict with or result in a breach of
any of the terms, conditions or provisions of any order, judgment, decree, or ruling of any court, arbitrator or Governmental Authority applicable to the Company or any Subsidiary or (c) violate any provision of any statute or other rule or
regulation of any Governmental Authority applicable to the Company or any Subsidiary, except for any such contravention, breach, default, creation of a Lien, conflict or violation described in any of clauses (a), (b) and (c) above which,
individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect. 

  
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 5.7. Governmental Authorizations, Etc. 

No consent, approval or authorization of, or registration, filing or declaration with, any Governmental Authority is required in
connection with the execution, delivery or performance by the Company of this Agreement or the Notes. 
 5.8. Litigation;
Observance of Agreements, Statutes and Orders. 
 (a) There are no actions, suits, investigations or
proceedings pending or, to the knowledge of the Company, threatened against or affecting the Company or any Subsidiary or any property of the Company or any Subsidiary in any court or before any arbitrator of any kind or before or by any
Governmental Authority that, individually or in the aggregate, would reasonably be expected to have a Material Adverse Effect. 
 (b) Neither the Company nor any Subsidiary is in default under any term of any agreement or instrument to which it is a party or by which it is bound, or any order, judgment, decree or ruling of any
court, arbitrator or Governmental Authority or is in violation of any applicable law, ordinance, rule or regulation (including, without limitation, Environmental Laws or the USA Patriot Act) of any Governmental Authority, which default or violation,
individually or in the aggregate, would reasonably be expected to have a Material Adverse Effect. 
 5.9. Taxes.

 The Company and its Subsidiaries have filed all tax returns that are required to have been filed in any jurisdiction, and
have paid all taxes shown to be due and payable on such returns and all other taxes and assessments levied upon them or their properties, assets, income or franchises, to the extent such taxes and assessments have become due and payable and before
they have become delinquent, except for any taxes and assessments (i) the amount of which is not individually or in the aggregate Material or (ii) the amount, applicability or validity of which is currently being contested in good faith by
appropriate proceedings and with respect to which the Company or a Subsidiary, as the case may be, has established adequate reserves in accordance with GAAP. The Company knows of no basis for any other tax or assessment that could reasonably be
expected to have a Material Adverse Effect. The charges, accruals and reserves on the books of the Company and its Subsidiaries in respect of Federal, state or other taxes for all fiscal periods are adequate in accordance with GAAP. The Federal
income tax liabilities of the Company and its Subsidiaries have been finally determined (by reason of the statute of limitations having run) for all fiscal years ended December 31, 2004, except to the extent of net operating losses and credits
generated and carried forward for these years. 
 5.10. Title to Property; Leases. 

The Company and its Subsidiaries have good and sufficient title to their respective properties that are Material, including all such
Material properties reflected in the most recent audited balance sheet referred to in Section 5.5 or purported to have been acquired by the Company or any Subsidiary after said date (except as sold or otherwise disposed of in the ordinary
course of business), in each case free and clear of Liens prohibited by this Agreement. All leases that are Material are valid and subsisting and are in full force and effect in all material respects. 

  
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 5.11. Licenses, Permits, Etc. 

(a) Except as would not reasonably be expected to result in a Material Adverse Effect, the Company and its Subsidiaries
own or possess all licenses, permits, franchises, authorizations, patents, copyrights, proprietary software, service marks, trademarks and trade names, or rights thereto, without known conflict with the rights of others. 

(b) Except as would not reasonably be expected to result in a Material Adverse Effect, to the best knowledge of the
Company, no product of the Company or any of its Subsidiaries infringes in any material respect any license, permit, franchise, authorization, patent, copyright, proprietary software, service mark, trademark, trade name or other right owned by any
other Person. 
 (c) Except as would not reasonably be expected to result in a Material Adverse Effect, to the
best knowledge of the Company, there is no violation by any Person of any right of the Company or any of its Subsidiaries with respect to any patent, copyright, proprietary software, service mark, trademark, trade name or other right owned or used
by the Company or any of its Subsidiaries. 
 5.12. Compliance with ERISA. 

(a) The Company and each ERISA Affiliate have operated and administered each Plan in compliance with all applicable laws
except for such instances of noncompliance as have not resulted in and could not reasonably be expected to result in a Material Adverse Effect. Neither the Company nor any ERISA Affiliate has incurred any liability pursuant to Title I or IV of ERISA
or the penalty or excise tax provisions of the Code relating to employee benefit plans (as defined in section 3 of ERISA), and no event, transaction or condition has occurred or exists that could reasonably be expected to result in the incurrence of
any such liability by the Company or any ERISA Affiliate, or in the imposition of any Lien on any of the rights, properties or assets of the Company or any ERISA Affiliate, in either case pursuant to Title I or IV of ERISA or to such penalty or
excise tax provisions or to section 401(a)(29) or 412 of the Code or section 4068 of ERISA, other than such liabilities or Liens as would not be individually or in the aggregate Material. 

(b) The present value of all accumulated benefit obligations under each Plan (based on the assumptions used for purposes
of Statement of Financial Accounting Standards No. 87) did not, as of the date of the most recent financial statements reflecting such amounts, exceed the fair market value of the assets of such Plan by an amount that could reasonably be
expected to result in a Material Adverse Effect, and the present value of all accumulated benefit obligations of all underfunded Plans (based on the assumptions used for purposes of Statement of Financial Accounting Standards No. 87) did not,
as of the date of the most recent financial statements reflecting such amounts, exceed the fair market value of the assets of all such underfunded Plans by an amount that could reasonably be expected to result in a Material Adverse Effect.

  
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 (c) The Company and its ERISA Affiliates have not incurred withdrawal
liabilities (and are not subject to contingent withdrawal liabilities) under section 4201 or 4204 of ERISA in respect of Multiemployer Plans that individually or in the aggregate are Material. 

(d) The expected post-retirement benefit obligation (determined as of the last day of the Company’s most recently
ended fiscal year in accordance with Financial Accounting Standards Board Statement No. 106, without regard to liabilities attributable to continuation coverage mandated by section 4980B of the Code) of the Company and its Subsidiaries is not
Material or has otherwise been disclosed in the most recent audited financial statements of the Company and its Subsidiaries. 
 (e) The execution and delivery of this Agreement and the issuance and sale of the Notes hereunder will not involve any transaction that is subject to the prohibitions of section 406 of ERISA or in
connection with which a tax could be imposed pursuant to section 4975(c)(1)(A)-(D) of the Code. The representation by the Company to each Purchaser in the first sentence of this Section 5.12(e) is made in reliance upon and subject to
the accuracy of such Purchaser’s representation in Section 6.2 as to the sources of the funds used to pay the purchase price of the Notes to be purchased by such Purchaser. 

5.13. Private Offering by the Company. 
 Prior to the date hereof, neither the Company nor anyone acting on its behalf has offered the Notes or any similar securities for sale to, or solicited any offer to buy any of the same from, or otherwise
approached or negotiated in respect thereof with, any person other than the Purchasers and other Institutional Investors, each of which has been offered the Notes at a private sale for investment. Neither the Company nor anyone acting on its behalf
has taken, or will take, any action that would subject the issuance or sale of the Notes to the registration requirements of Section 5 of the Securities Act or to the registration requirements of any securities or blue sky laws of any
applicable jurisdiction. 
 5.14. Use of Proceeds; Margin Regulations. 

The Company will apply the proceeds of the sale of the Series A Notes to refinance existing Indebtedness and for general corporate
purposes and will apply the proceeds of the sale of the Shelf Notes as set forth in the applicable Request for Purchase. None of the proceeds of the sale of any Notes will be used to finance a Hostile Tender Offer. No part of the proceeds from the
sale of the Notes hereunder will be used, directly or indirectly, for the purpose of buying or carrying any margin stock within the meaning of Regulation U of the Board of Governors of the Federal Reserve System (12 CFR 221), or for the purpose
of buying or carrying or trading in any securities under such circumstances as to involve the Company in a violation of Regulation X of said Board (12 CFR 224) or to involve any broker or dealer in a violation of Regulation T of said Board (12 CFR
220). Margin stock does not constitute more than 5% of the value of the consolidated assets of the Company and its Subsidiaries and the Company does not have any present intention that margin stock will constitute more than 5% of the value of such
assets. As used in this Section, the terms “margin stock” and “purpose of buying or carrying” shall have the meanings assigned to them in said Regulation U. 

  
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 5.15. Existing Indebtedness; Future Liens. 

(a) Schedule 5.15 sets forth a complete and correct list of all outstanding Indebtedness of the Company and its
Subsidiaries (other than Indebtedness which does not exceed $5,000,000 in the aggregate and any surety, guaranty or other similar arrangements entered into in the ordinary course of business and not in respect of any borrowed money Indebtedness) as
of June 30, 2009 (including a description of the obligors and obligees, principal amount outstanding and collateral therefor, if any, and Guaranty thereof, if any) since which date there has been no Material change in the amounts, interest
rates, sinking funds, installment payments or maturities of such Indebtedness of the Company or its Subsidiaries. Neither the Company nor any Subsidiary is in default and no waiver of default is currently in effect, in the payment of any principal
or interest on any Indebtedness of the Company or such Subsidiary in an unpaid amount in excess of $1,000,000 in each instance or $5,000,000 in the aggregate, and no event or condition exists with respect to any Indebtedness of the Company or any
Subsidiary in an unpaid amount in excess of $1,000,000 in each instance or $5,000,000 in the aggregate, that would permit (or that with notice or the lapse of time, or both, would permit) one or more Persons to cause such Indebtedness to become due
and payable before its stated maturity or before its regularly scheduled dates of payment. 
 (b) Except as
disclosed in Schedule 5.15, neither the Company nor any Material Subsidiary has agreed or consented to cause or permit in the future (upon the happening of a contingency or otherwise) any of its property, whether now owned or hereafter acquired, to
be subject to a Lien not permitted by Section 10.5. 
 5.16. Foreign Assets Control Regulations, Etc. 

(a) Neither the sale of the Notes by the Company hereunder nor its use of the proceeds thereof will violate the Trading
with the Enemy Act, as amended, or any of the foreign assets control regulations of the United States Treasury Department (31 CFR, Subtitle B, Chapter V, as amended) or any enabling legislation or executive order relating thereto.

 (b) Neither the Company nor any Subsidiary (i) is a Person described or designated in the Specially
Designated Nationals and Blocked Persons List of the Office of Foreign Assets Control or in Section 1 of the Anti-Terrorism Order or (ii) knowingly engages in any dealings or transactions with any such Person. The Company and its
Subsidiaries are in compliance, in all material respects, with the USA Patriot Act. 
 (c) No part of the
proceeds from the sale of the Notes hereunder will be used, directly or indirectly, for any payments to any governmental official or employee, political party, official of a political party, candidate for political office, or anyone else acting in
an official capacity, in order to obtain, retain or direct business or obtain any improper advantage, in violation of the United States Foreign Corrupt Practices Act of 1977, as amended, assuming in all cases that such Act applies to the Company.

  
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 5.17. Status under Certain Statutes. 

Neither the Company nor any Subsidiary is subject to regulation under the Investment Company Act of 1940, as amended, the ICC Termination
Act of 1995, as amended, or the Federal Power Act, as amended. 
 5.18. Environmental Matters. 

(a) Neither the Company nor any Subsidiary has knowledge of any claim or has received any notice of any claim, and no
proceeding has been instituted raising any claim against the Company or any of its Subsidiaries or any of their respective real properties now or formerly owned, leased or operated by any of them or other assets, alleging any damage to the
environment or violation of any Environmental Laws, except, in each case, such as would not reasonably be expected to result in a Material Adverse Effect. 
 (b) Neither the Company nor any Subsidiary has knowledge of any facts which would give rise to any claim, public or private, of a violation of Environmental Laws or damage to the environment emanating
from, occurring on or in any way related to real properties now or formerly owned, leased or operated by any of them or to other assets or their use, except, in each case, such as could not reasonably be expected to result in a Material Adverse
Effect. 
 (c) Neither the Company nor any Subsidiary has stored any Hazardous Materials on real properties now
or formerly owned, leased or operated by any of them and has not disposed of any Hazardous Materials in a manner contrary to any Environmental Laws in each case in any manner that could reasonably be expected to result in a Material Adverse Effect.

 (d) All buildings on all real properties now owned, leased or operated by the Company or any Subsidiary are in
compliance with applicable Environmental Laws, except where failure to comply could not reasonably be expected to result in a Material Adverse Effect. 
 5.19. Ranking of Obligations. 
 The Company’s payment obligations under
this Agreement and the Notes will, upon issuance of the Notes, rank at least pari passu, without preference or priority, with all other unsecured and unsubordinated Indebtedness of the Company. 

6. REPRESENTATIONS OF THE PURCHASERS. 
 6.1. Purchase for Investment. 
 Each Purchaser severally represents that it
is purchasing the Notes purchased by it hereunder for its own account or for one or more separate accounts maintained by such Purchaser or for the account of one or more pension or trust funds and not as a nominee or agent for any other Person and
not with a view to the distribution or public offering thereof, provided that the disposition of such Purchaser’s or their property shall at all times be within such Purchaser’s or their control. Each Purchaser understands that the Notes
have not been registered 

  
 -17-

 
under the Securities Act and may be resold only if registered pursuant to the provisions of the Securities Act or if an exemption from registration is available, except under circumstances where
neither such registration nor such an exemption is required by law, and that the Company is not required to register the Notes. 

6.2. Source of Funds. 
 Each Purchaser severally represents that at least one of the following statements is an accurate representation as to each source of funds (a “Source”) to be used by such Purchaser to pay
the purchase price of the Notes to be purchased by it hereunder: 
 (a) the Source is an “insurance company
general account” (as the term is defined in the United States Department of Labor’s Prohibited Transaction Exemption (“PTE”) 95-60) in respect of which the reserves and liabilities (as defined by the annual statement for
life insurance companies approved by the National Association of Insurance Commissioners (the “NAIC Annual Statement”)) for the general account contract(s) held by or on behalf of any employee benefit plan together with the amount
of the reserves and liabilities for the general account contract(s) held by or on behalf of any other employee benefit plans maintained by the same employer (or affiliate thereof as defined in PTE 95-60) or by the same employee organization in the
general account do not exceed 10% of the total reserves and liabilities of the general account (exclusive of separate account liabilities) plus surplus as set forth in the NAIC Annual Statement filed with such Purchaser’s state of domicile; or

 (b) the Source is a separate account that is maintained solely in connection with such Purchaser’s fixed
contractual obligations under which the amounts payable, or credited, to any employee benefit plan (or its related trust) that has any interest in such separate account (or to any participant or beneficiary of such plan (including any annuitant))
are not affected in any manner by the investment performance of the separate account; or 
 (c) the Source is
either (i) an insurance company pooled separate account, within the meaning of PTE 90-1 or (ii) a bank collective investment fund, within the meaning of the PTE 91-38 and, except as disclosed by such Purchaser to the Company in writing
pursuant to this clause (c), no employee benefit plan or group of plans maintained by the same employer or employee organization beneficially owns more than 10% of all assets allocated to such pooled separate account or collective investment fund;
or 
 (d) the Source constitutes assets of an “investment fund” (within the meaning of Part V of PTE
84-14 (the “QPAM Exemption”)) managed by a “qualified professional asset manager” or “QPAM” (within the meaning of Part V of the QPAM Exemption), no employee benefit plan’s assets that are included in such
investment fund, when combined with the assets of all other employee benefit plans established or maintained by the same employer or by an affiliate (within the meaning of Section V(c)(1) of the QPAM Exemption) of such employer or by the same
employee organization and managed by such QPAM, exceed 20% of the total client assets managed by such QPAM, the conditions of Part I(c) and (g) of the QPAM Exemption are satisfied, 

  
 -18-

 
neither the QPAM nor a person controlling or controlled by the QPAM (applying the definition of “control” in Section V(e) of the QPAM Exemption) owns a 5% or more interest in the
Company and (i) the identity of such QPAM and (ii) the names of all employee benefit plans whose assets are included in such investment fund have been disclosed to the Company in writing pursuant to this clause (d); or 

(e) the Source constitutes assets of a “plan(s)” (within the meaning of Section IV of PTE 96-23 (the
“INHAM Exemption”)) managed by an “in-house asset manager” or “INHAM” (within the meaning of Part IV of the INHAM Exemption), the conditions of Part I(a), (g) and (h) of the INHAM Exemption are
satisfied, neither the INHAM nor a person controlling or controlled by the INHAM (applying the definition of “control” in Section IV(d) of the INHAM Exemption) owns a 5% or more interest in the Company and (i) the identity of such
INHAM and (ii) the name(s) of the employee benefit plan(s) whose assets constitute the Source have been disclosed to the Company in writing pursuant to this clause (e); or 

(f) the Source is a governmental plan; or 

(g) the Source is one or more employee benefit plans, or a separate account or trust fund comprised of one or more
employee benefit plans, each of which has been identified to the Company in writing pursuant to this clause (g); or 
 (h) the Source does not include assets of any employee benefit plan, other than a plan exempt from the coverage of ERISA. 
 As used in this Section 6.2, the terms “employee benefit plan,” “governmental plan,” and “separate account” shall have the respective meanings assigned to such terms in
section 3 of ERISA. 
 7. INFORMATION AS TO COMPANY. 
 7.1. Financial and Business Information. 
 The Company shall deliver to
Prudential and each holder of Notes that is an Institutional Investor: 
 (a) Quarterly Statements —
promptly after the same are available and in any event within 45 days after the end of each quarterly fiscal period in each fiscal year of the Company (other than the last quarterly fiscal period of each such fiscal year), copies of 

(i) a consolidated balance sheet of the Company and its Subsidiaries as at the end of such quarter, and 

(ii) consolidated statements of income and cash flows of the Company and its Subsidiaries, in the case of the first fiscal
quarter, for such quarter, and in the case of the second and third quarters, for the portion of the fiscal year ending with such quarter, 

  
 -19-

 
setting forth in each case in comparative form the figures for the corresponding period or periods of (or, in the case of the balance sheet, as of the end of) the previous fiscal year, all in
reasonable detail, prepared in accordance with GAAP applicable to quarterly financial statements generally, and certified by a Senior Financial Officer as fairly presenting, in all material respects, the financial position of the companies being
reported on and their results of operations and cash flows, subject to changes resulting from year-end adjustments; provided, however, that delivery within the time period specified above of copies of the Company’s Quarterly
Report on Form 10-Q prepared in compliance with the requirements therefor and filed with the Securities and Exchange Commission shall be deemed to satisfy the requirements of this Section 7.1(a); provided, further, that the
Company shall be deemed to have made such delivery of such Form 10-Q if it shall have timely made such Form 10-Q available on the Securities and Exchange Commission’s EDGAR system, or its successor thereto. 

(b) Annual Statements — promptly after the same are available and in any event within 90 days after the end of
each fiscal year of the Company, copies of 
 (i) a consolidated balance sheet of the Company and its
Subsidiaries as at the end of such year, and 
 (ii) consolidated statements of income, changes in
shareholders’ equity and comprehensive income and cash flows of the Company and its Subsidiaries for such year, 
 setting
forth in each case in comparative form the figures for the previous fiscal year, all in reasonable detail, prepared in accordance with GAAP, and accompanied 
 (A) by an opinion thereon of an independent registered public accounting firm of recognized national standing (without a “going concern” or like qualification or exception and without any
qualification or exception as to the scope of such audit), which opinion shall state that such financial statements present fairly, in all material respects, the financial position of the companies being reported upon and their results of operations
and cash flows and have been prepared in conformity with GAAP, and that the examination of such accounting firm in connection with such financial statements has been made in accordance with the standards of the Public Company Accounting Oversight
Board (“PCAOB”), or the applicable auditing standards should the PCAOB standards be superseded, and that such audit provides a reasonable basis for such opinion in the circumstances, and provided that the delivery within the time
period specified above of the Company’s Annual Report on Form 10-K for such fiscal year prepared in accordance with the requirements therefor and filed with the Securities and Exchange Commission shall be deemed to satisfy the requirements of
this Section 7.1(b); provided, further, that the Company shall be deemed to have made such delivery of such Form 10-K if it shall have timely made such Form 10-K available on the Securities and Exchange Commission’s EDGAR
system, or its successor thereto; and 

  
 -20-

 (B) by a certificate of the accounting firm that reported on such financial
statements stating whether they obtained knowledge during the course of their examination of such financial statements of any Default or Event of Default (which certificate may be limited to the extent required by accounting rules or guidelines).

 (c) SEC and Other Reports — promptly upon their becoming available, one copy of (i) each
financial statement, report, circular, notice or proxy statement or similar document sent by the Company or any Subsidiary to its public securities holders generally, and (ii) each regular or periodic report, each registration statement
(without exhibits except as expressly requested by such holder and other than those on Form S-8), and each prospectus and all amendments thereto filed with, or furnished to, the Securities and Exchange Commission or any similar Governmental
Authority or securities exchange by the Company or any Subsidiary; provided, however, the Company shall be deemed to have made delivery of any document required by this Section 7.1(c) if it shall have timely made such document
available on the Securities and Exchange Commission’s EDGAR system, or its successor thereto. 
 (d)
Notice of Default or Event of Default — promptly and in any event within five days after a Responsible Officer becoming aware of the existence of any Default or Event of Default or that any Person has given any notice or taken any action
with respect to a claimed default hereunder or that any Person has given any notice or taken any action with respect to a claimed default of the type referred to in Section 11(f), a written notice specifying the nature and period of existence
thereof and what action the Company is taking or proposes to take with respect thereto; 
 (e) Employee
Benefit Matters — promptly and in any event within five days after a Responsible Officer becoming aware of any of the following, a written notice setting forth the nature thereof and the action, if any, that the Company or an ERISA
Affiliate proposes to take with respect thereto: 
 (i) an ERISA Event; or 

(ii) any event, transaction or condition that could result in the incurrence of any liability by the Company or any ERISA
Affiliate pursuant to Title I or IV of ERISA or the penalty or excise tax provisions of the Code relating to employee benefit plans, or in the imposition of any Lien on any of the rights, properties or assets of the Company or any ERISA Affiliate
pursuant to Title I or IV of ERISA or such penalty or excise tax provisions, if such liability or Lien, taken together with any other such liabilities or Liens then existing, could reasonably be expected to have a Material Adverse Effect;

 (f) Notices from Governmental Authority — promptly, and in any event within 30 days of receipt
thereof, copies of any notice to the Company or any Subsidiary from any Governmental Authority relating to any order, ruling, statute or other law or regulation that would reasonably be expected to have a Material Adverse Effect; 

  
 -21-

 (g) Certain Notices — upon the occurrence of one or more of the
following, to the extent that any of the following, if adversely determined, could reasonably be expected to result in liability of the Company or any of its Subsidiaries in excess of $7,500,000 or a fine or penalty in excess of $2,500,000:
(i) written notice, claim or request for information to the effect that the Company or any of its Subsidiaries is or may be liable in any material respect to any Person as a result of the presence of or the Release or substantial threat of a
material Release of any Hazardous Materials into the environment; (ii) written notice that the Company or any of its Subsidiaries is subject to investigation by any Governmental Authority evaluating whether any remedial action is needed to
respond to the presence or to the Release or substantial threat of a material Release of any Hazardous Materials into the environment; (iii) written notice that any property, whether owned or leased by, or operated on behalf of, the Company or
any of its Subsidiaries is subject to a material Environmental Lien; (iv) written notice of violation to the Company or any of its Subsidiaries of any Environmental Laws or Environmental Permits; or (v) commencement or written threat of
any judicial or administrative proceeding alleging a violation of any Environmental Laws or Environmental Permits; 
 (h) Environmental Reports — upon written request by the Required Holders, a report providing an update of the status of each environmental, health or safety compliance, hazard or liability
issue identified in any notice or report required pursuant to clause (g) above and any other environmental, health and safety compliance obligation, remedial obligation or liability that could reasonably be expected to have a Material Adverse
Effect (all such notices shall describe in reasonable detail the nature of the claim, investigation, condition, occurrence or remedial action and the Company’s or such Subsidiary’s response thereto); and 

(i) Requested Information — with reasonable promptness, such other data and information relating to the
business, operations, affairs, financial condition, assets or properties of the Company or any of its Subsidiaries or relating to the ability of the Company to perform its obligations hereunder and under the Notes as from time to time may be
reasonably requested by any such holder of Notes. 
 7.2. Officer’s Certificate. 

Each set of financial statements delivered to Prudential or a holder of Notes pursuant to Section 7.1(a) or Section 7.1(b) shall
be accompanied by a certificate of a Senior Financial Officer setting forth: 
 (a) Covenant Compliance
— the information (including detailed calculations) required in order to establish whether the Company was in compliance with the requirements of Sections 10.5(f), 10.6, 10.8, 10.9, 10.10 and 10.12 and any Most Favored Provision during the
quarterly or annual period covered by the statements then being furnished (including with respect to each such Section, where applicable, the calculations of the maximum or minimum amount, ratio or percentage, as the case may be, permissible under
the terms of such Sections, and the calculation of the amount, ratio or percentage then in existence); and 

  
 -22-

 (b) Event of Default — a statement that such Senior Financial
Officer has reviewed the relevant terms hereof and has made, or caused to be made, under his or her supervision, a review of the transactions and conditions of the Company and its Subsidiaries from the beginning of the quarterly or annual period
covered by the statements then being furnished to the end of such quarterly or annual period and that such review shall not have disclosed the existence during such period of any condition or event that constitutes a Default or an Event of Default
and that to the knowledge of such Senior Financial Officer, no such condition exists at the date of such certificate or, if any such condition or event existed or exists (including, without limitation, any such event or condition resulting from the
failure of the Company or any Subsidiary to comply with any Environmental Law), specifying the nature and period of existence thereof and what action the Company shall have taken or proposes to take with respect thereto. 

7.3. Visitation. 
 The Company shall permit the representatives of each holder of Notes that is an Institutional Investor: 
 (a) No Default — if no Default or Event of Default then exists, at the expense of such holder and upon reasonable prior notice to the Company, to visit the principal executive office of the
Company, to discuss the affairs, finances and accounts of the Company and its Subsidiaries with the Company’s officers, and (with the consent of the Company, which consent will not be unreasonably withheld) its independent public accountants,
and (with the consent of the Company, which consent will not be unreasonably withheld) to visit the other offices and properties of the Company and each Subsidiary, all at such reasonable times and as often as may be reasonably requested in writing;
and 
 (b) Default — if a Default or Event of Default then exists, at the expense of the Company to
visit and inspect any of the offices or properties of the Company or any Subsidiary, to examine all their respective books of account, records, reports and other papers, to make copies and extracts therefrom, and to discuss their respective affairs,
finances and accounts with their respective officers and independent public accountants (and by this provision the Company authorizes said accountants to discuss the affairs, finances and accounts of the Company and its Subsidiaries), all at such
times and as often as may be requested. 
 8. PAYMENT AND PREPAYMENT OF THE NOTES. 

8.1. Required Prepayments; Maturity. 
 (a) Series A Notes. As provided therein, the entire unpaid principal balance of the Series A Notes shall be due and payable on the stated maturity date thereof. 

(b) Shelf Notes. Each Series of Shelf Notes shall be subject to required prepayments, if any, set forth in the
Notes of such Series, provided that upon any partial prepayment of the Shelf Notes of any Series pursuant to Section 8.2, the principal amount of each required prepayment of the Shelf Notes of such Series becoming due under this

  
 -23-

 
Section 8.1(b) on and after the date of such prepayment shall be reduced in the same proportion as the aggregate unpaid principal amount of the Shelf Notes of such Series is reduced as a
result of such prepayment. 
 8.2. Optional Prepayments with Make-Whole Amount. 

The Company may, at its option, upon notice as provided below, prepay at any time all, or from time to time any part of, any Series of
Notes, in an amount not less than $1,000,000 (and in an integral multiple of $100,000) of the aggregate principal amount of such Series of Notes then outstanding in the case of a partial prepayment, at 100% of the principal amount so prepaid, and
the Make-Whole Amount determined for the prepayment date with respect to such principal amount. The Company will give each holder of the Series of Notes to be prepaid written notice of each optional prepayment under this Section 8.2 not less
than 30 days and not more than 60 days prior to the date fixed for such prepayment. Each such notice shall specify such date (which shall be a Business Day), the aggregate principal amount of the Series of Notes to be prepaid on such date, the
principal amount of each Note held by such holder to be prepaid (determined in accordance with Section 8.3), and the interest to be paid on the prepayment date with respect to such principal amount being prepaid, and shall be accompanied by a
certificate of a Senior Financial Officer as to the estimated Make-Whole Amount due in connection with such prepayment (calculated as if the date of such notice were the date of the prepayment), setting forth the details of such computation. Two
Business Days prior to such prepayment, the Company shall deliver to each holder of the Series of Notes to be prepaid a certificate of a Senior Financial Officer specifying the calculation of such Make-Whole Amount as of the specified prepayment
date. 
 8.3. Allocation of Partial Prepayments. 
 In the case of each partial prepayment of the Notes of any Series pursuant to Section 8.2, the principal amount of the Notes of such Series to be prepaid shall be allocated among all of the Notes of
such Series at the time outstanding in proportion, as nearly as practicable, to the respective unpaid principal amounts thereof not theretofore called for prepayment. 
 8.4. Maturity; Surrender, Etc. 
 In the case of each prepayment of Notes of
any Series pursuant to this Section 8, the principal amount of each Note to be prepaid shall mature and become due and payable on the date fixed for such prepayment (which shall be a Business Day), together with interest on such principal
amount accrued to such date and the applicable Make-Whole Amount, if any. From and after such date, unless the Company shall fail to pay such principal amount when so due and payable, together with the interest and Make-Whole Amount, if any, as
aforesaid, interest on such principal amount shall cease to accrue. Any Note paid or prepaid in full shall be surrendered to the Company and cancelled and shall not be reissued, and no Note shall be issued in lieu of any prepaid principal amount of
any Note. 
 8.5. Purchase of Notes. 
 The Company will not and will not permit any Affiliate to purchase, redeem, prepay or otherwise acquire, directly or indirectly, any of the outstanding Notes except upon the payment

  
 -24-

 
or prepayment of the Notes in accordance with the terms of this Agreement and the Notes. The Company will promptly cancel all Notes acquired by it or any Affiliate pursuant to any payment or
prepayment of Notes pursuant to any provision of this Agreement and no Notes may be issued in substitution or exchange for any such Notes. 
 8.6. Make-Whole Amount. 
 The term “Make-Whole Amount”
means, with respect to any Note, an amount equal to the excess, if any, of the Discounted Value of the Remaining Scheduled Payments with respect to the Called Principal of such Note over the amount of such Called Principal, provided that the
Make-Whole Amount may in no event be less than zero. For the purposes of determining the Make-Whole Amount, the following terms have the following meanings: 
 “Called Principal” means, with respect to any Note, the principal of such Note that is to be prepaid pursuant to Sections 8.2 or has become or is declared to be immediately due and
payable pursuant to Section 12.1. 
 “Discounted Value” means, with respect to the Called Principal of any
Note, the amount obtained by discounting all Remaining Scheduled Payments with respect to such Called Principal from their respective scheduled due dates to the Settlement Date with respect to such Called Principal, in accordance with accepted
financial practice and at a discount factor (applied on the same periodic basis as that on which interest on the Notes is payable) equal to the Reinvestment Yield with respect to such Called Principal. 

“Reinvestment Yield” means, with respect to the Called Principal of any Note, 0.50% over the yield to maturity implied
by (i) the yields reported as of 10:00 A.M. (New York City time) on the second Business Day preceding the Settlement Date with respect to such Called Principal, on the display designated as “Page PX1” (or such other display as may
replace Page PX1) on Bloomberg Financial Markets for the most recently issued actively traded on the run U.S. Treasury securities having a maturity equal to the Remaining Average Life of such Called Principal as of such Settlement Date, or
(ii) if such yields are not reported as of such time or the yields reported as of such time are not ascertainable (including by way of interpolation), the Treasury Constant Maturity Series Yields reported, for the latest day for which such
yields have been so reported as of the second Business Day preceding the Settlement Date with respect to such Called Principal, in Federal Reserve Statistical Release H.15 (or any comparable successor publication) for actively traded U.S. Treasury
securities having a constant maturity equal to the Remaining Average Life of such Called Principal as of such Settlement Date. In the case of each determination under clause (i) or clause (ii), as the case may be, of the preceding paragraph,
such implied yield will be determined, if necessary, by (a) converting U.S. Treasury bill quotations to bond equivalent yields in accordance with accepted financial practice and (b) interpolating linearly between (1) the applicable
U.S. Treasury security with the maturity closest to and greater than such Remaining Average Life and (2) the applicable U.S. Treasury security with the maturity closest to and less than such Remaining Average Life. The Reinvestment Yield will
be rounded to that number of decimals as appears in the coupon for the applicable Note. 
 “Remaining Average
Life” means, with respect to any Called Principal, the number of years (calculated to the nearest one-twelfth year) obtained by dividing (i) such Called Principal 

  
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into (ii) the sum of the products obtained by multiplying (a) the principal component of each Remaining Scheduled Payment with respect to such Called Principal by (b) the number of
years (calculated to the nearest one-twelfth year) that will elapse between the Settlement Date with respect to such Called Principal and the scheduled due date of such Remaining Scheduled Payment. 

“Remaining Scheduled Payments” means, with respect to the Called Principal of any Note, all payments of such Called
Principal and interest thereon that would be due after the Settlement Date with respect to such Called Principal if no payment of such Called Principal were made prior to its scheduled due date, provided that if such Settlement Date is not a date on
which interest payments are due to be made under the terms of the Notes, then the amount of the next succeeding scheduled interest payment will be reduced by the amount of interest accrued to such Settlement Date and required to be paid on such
Settlement Date pursuant to Section 8.2 or 12.1. 
 “Settlement Date” means, with respect to the Called
Principal of any Note, the date on which such Called Principal is to be prepaid pursuant to Section 8.2 or has become or is declared to be immediately due and payable pursuant to Section 12.1, as the context requires. 

8.7. Prepayment Upon Change in Control. 
 (a) Notice of Change in Control; Offer to Prepay if Change in Control has Occurred. The Company will, within five (5) Business Days after any Responsible Officer has knowledge of the
occurrence of any Change in Control, give written notice of such Change in Control to each holder of Notes. If a Change in Control has occurred, such notice shall contain and constitute an offer to prepay Notes as described in clause (b) of
this Section 8.7 and shall be accompanied by the certificate described in clause (e) of this Section 8.7. 
 (b) Offer to Prepay; Time for Payment. The offer to prepay Notes contemplated by clause (a) of this Section 8.7 shall be an offer to prepay, in accordance with and subject to this
Section 8.7, all, but not less than all, of the Notes held by each holder (in the case of this Section 8.7 only, “holder” in respect of any Note registered in the name of a nominee for a disclosed beneficial owner shall mean such
beneficial owner) on a date specified in such offer (the “Proposed Prepayment Date”). The Proposed Prepayment Date shall not be less than thirty (30) days and not more than sixty (60) days after the date of such offer (if
the Proposed Prepayment Date shall not be specified in such offer, the Proposed Prepayment Date shall be the forty-fifth (45th) day after the date of such offer). 

(c) Acceptance; Rejection. A holder of Notes may accept the offer to prepay made pursuant to this Section 8.7
by causing a notice of such acceptance to be delivered to the Company at least ten (10) calendar days prior to the Proposed Prepayment Date. A failure by a holder of Notes to respond to an offer to prepay made pursuant to this Section 8.7,
or to accept an offer as to all of the Notes held by the holder, within such time period, shall be deemed to constitute a rejection of such offer by such holder. 

  
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 (d) Prepayment. Prepayment of the Notes to be prepaid pursuant to
this Section 8.7 shall be at 100% of the principal amount of such Notes together with interest on such Notes accrued to the date of prepayment, but without payment of the Make-Whole Amount or any premium. The prepayment shall be made on the
Proposed Prepayment Date. 
 (e) Officer’s Certificate. Each offer to prepay the Notes pursuant to
this Section 8.7 shall be accompanied by a certificate, executed by a Senior Financial Officer of the Company and dated the date of such offer, specifying: (i) the Proposed Prepayment Date, (ii) that such offer is made pursuant to
this Section 8.7, (iii) that the entire principal amount of each Note is offered to be prepaid without any Make-Whole Amount, (iv) the interest that would be due on each Note offered to be prepaid, accrued to the Proposed Prepayment
Date, (v) that the conditions of this Section 8.7 required to be fulfilled prior to the giving of such notice have been fulfilled and (vi) in reasonable detail, the nature and date or proposed date of the Change in Control.

 8.8. Prepayment in Connection with an Asset Disposition. 

(a) Notice and Offer. In the event any Debt Prepayment Application is to be used at the election of the Company to
make an offer (a “Disposition Prepayment Offer”) to prepay Notes pursuant to Section 10.9(f) of this Agreement (a “Debt Prepayment Transfer”), the Company will give written notice of such Debt Prepayment
Transfer to each holder of Notes. Such written notice shall contain, and such written notice shall constitute, an irrevocable offer to prepay, at the election of each holder, a portion of the Notes held by such holder equal to such holder’s
Ratable Portion of the Net Proceeds in respect of such Debt Prepayment Transfer on a date specified in such notice (the “Disposition Prepayment Date”) that is not less than thirty (30) days and not more than sixty
(60) days after the date of such notice, together with interest on the amount to be so prepaid accrued to the Disposition Prepayment Date. If the Disposition Prepayment Date shall not be specified in such notice, the Disposition Prepayment Date
shall be the forty-fifth (45th) day after the date of such notice. 
 (b) Acceptance and Payment. To
accept such Disposition Prepayment Offer, a holder of Notes shall cause a notice of such acceptance to be delivered to the Company not later than twenty (20) days after the date of such written notice from the Company, provided, that
failure to accept such offer in writing within twenty (20) days after the date of such written notice shall be deemed to constitute a rejection of the Disposition Prepayment Offer. If so accepted by any holder of a Note, such offered prepayment
(equal to such holder’s Ratable Portion of the Net Proceeds in respect of such Debt Prepayment Transfer) shall be due and payable on the Disposition Prepayment Date. Such offered prepayment shall be made at 100% of the principal amount of such
Notes being so prepaid, together with interest on such principal amount then being prepaid accrued to the Disposition Prepayment Date determined as of the date of such prepayment. The prepayment shall be made on the Disposition Prepayment Date.

 (c) Other Terms. Each offer to prepay the Notes pursuant to this Section 8.8 shall be accompanied
by a certificate, executed by a Senior Financial Officer of the 

  
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Company and dated the date of such offer, specifying (i) the Disposition Prepayment Date, (ii) the Net Proceeds in respect of the applicable Debt Prepayment Transfer, (iii) that
such offer is being made pursuant to this Section 8.8 and Section 10.9 of this Agreement, (iv) the principal amount of each Note offered to be prepaid, (v) the interest that would be due on each Note offered to be prepaid,
accrued to the Disposition Prepayment Date and (vi) in reasonable detail, the nature of the Disposition giving rise to such Debt Prepayment Transfer and certifying that no Default or Event of Default exists or would exist after giving effect to
the prepayment contemplated by such offer. 
 9. AFFIRMATIVE COVENANTS. 

The Company covenants that during the Issuance Period and so long thereafter as any of the Notes are outstanding: 

9.1. Compliance with Law. 
 Without limiting Section 10.4, the Company will, and will cause each of its Subsidiaries to, comply with all laws, ordinances or governmental rules or regulations to which each of them is subject,
including, without limitation, ERISA, the USA Patriot Act and Environmental Laws, and will obtain and maintain in effect all licenses, certificates, permits, franchises and other governmental authorizations necessary to the ownership of their
respective properties or to the conduct of their respective businesses, in each case to the extent necessary to ensure that non-compliance with such laws, ordinances or governmental rules or regulations or failures to obtain or maintain in effect
such licenses, certificates, permits, franchises and other governmental authorizations could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

9.2. Insurance. 
 The Company will, and will cause each of its Subsidiaries to, maintain, with financially sound and reputable insurers, insurance with respect to their respective properties and businesses against such
casualties and contingencies, of such types, on such terms and in such amounts (including deductibles, co-insurance and self-insurance, if adequate reserves are maintained with respect thereto) as is customary in the case of entities of established
reputations engaged in the same or a similar business and similarly situated. 
 9.3. Maintenance of Properties.

 The Company will, and will cause each of its Subsidiaries to, maintain and keep, or cause to be maintained and kept, their
respective properties in good repair, working order and condition (other than ordinary wear and tear), so that the business carried on in connection therewith may be properly conducted at all times, provided that this Section shall not prevent the
Company or any Subsidiary from discontinuing the operation and the maintenance of any of its properties if such discontinuance is desirable in the conduct of its business and the Company has concluded that such discontinuance would not, individually
or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

  
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 9.4. Payment of Taxes and Claims. 

The Company will, and will cause each of its Subsidiaries to, file all tax returns required to be filed in any jurisdiction and to pay and
discharge all taxes shown to be due and payable on such returns and all other taxes, assessments, governmental charges or levies imposed on them or any of their properties, assets, income or franchises, to the extent the same have become due and
payable and before they have become delinquent and all claims for which sums have become due and payable that have or might become a Lien on properties or assets of the Company or any Subsidiary, provided that neither the Company nor any Subsidiary
need pay any such tax, assessment, charge or levy if (i) the amount, applicability or validity of which is currently being contested in good faith by appropriate proceedings, and with respect to which the Company or a Subsidiary, as the case
may be, has established adequate reserves in accordance with GAAP on the books of the Company or such Subsidiary or (ii) the nonpayment of all such taxes, assessments, charges and levies in the aggregate could not reasonably be expected to have
a Material Adverse Effect. 
 9.5. Corporate Existence, Etc. 

Subject to Section 10.2, the Company will at all times preserve and keep in full force and effect its corporate existence. Subject to
Sections 10.2 and 10.9, the Company will at all times preserve and keep in full force and effect the corporate existence of each of its Subsidiaries (unless merged into the Company or a Wholly-Owned Subsidiary) and all rights and franchises of the
Company and its Subsidiaries unless, in the good faith judgment of the Company, the termination of or failure to preserve and keep in full force and effect such corporate existence, right or franchise could not, individually or in the aggregate,
have a Material Adverse Effect. 
 9.6. Books and Records. 

The Company will, and will cause each of its Subsidiaries to, maintain proper books of record and account in conformity with GAAP and all
applicable requirements of any Governmental Authority having legal or regulatory jurisdiction over the Company or such Subsidiary, as the case may be. 
 9.7. Additional Financial Covenants. 
 If at any time after the date of this
Agreement any Major Credit Facility that is outstanding on the date of this Agreement is amended or modified or a Major Credit Facility is entered into after the date of this Agreement that, in either case, shall include, or shall be amended or
otherwise modified to include, any Financial Covenant that is not provided for in this Agreement, or is more favorable to the Major Credit Facility Lenders or is more restrictive on the Company (the “Most Favored Provision”) than
the Financial Covenants provided for in this Agreement, then the Company shall provide written notice of such fact to each holder of Notes within five (5) Business Days thereof. Thereupon, unless waived in writing by the Required Holders within
ten (10) Business Days of each holder’s receipt of such notice, such Most Favored Provision shall be deemed incorporated by reference into this Agreement, mutatis mutandis (with such modifications thereof as may be necessary to give the
holders of Notes substantially the same benefits and protections afforded the Major Credit Facility Lenders under 

  
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such Major Credit Facility), as if set forth fully herein and, notwithstanding Section 17.1, without any further action on the part of the Company or any other Person being required.
Notwithstanding the foregoing, the Company agrees to enter into such documentation as the Required Holders may reasonably request to evidence the amendments provided for in this Section 9.7. At such time as a Major Credit Facility has been
terminated, all commitments thereunder cancelled and all liabilities existing thereunder paid in full (other than unasserted contingent liabilities and obligations), any Most Favored Provision set forth in such Major Credit Facility that has been
incorporated and/or amended into this Agreement, as applicable, pursuant to this Section 9.7 shall automatically terminate without any further action on the part of the Company or any other Person being required; provided that, at any
time a Default or Event of Default has occurred and is continuing, the incorporation and/or amendment of such Most Favored Provision into this Agreement shall not terminate unless the Required Holders shall have consented to such termination in
writing, which written consent shall not be unreasonably withheld or delayed. At such time as any Most Favored Provision is amended (whether or not such amendment is more favorable to the Major Credit Facility Lenders or is more restrictive on the
Company), removed or terminated under an existing Major Credit Facility, such Most Favored Provision set forth in such Major Credit Facility that has been incorporated and/or amended into this Agreement pursuant to this Section 9.7 shall
automatically be amended, removed or terminated herefrom accordingly without any further action on the part of the Company or any other Person being required; provided that, at any time a Default or Event of Default has occurred and is
continuing, such Most Favored Provision shall not be amended, removed or terminated in this Agreement unless the Required Holders shall have consented to such amendment, removal or termination in writing, which written consent shall not be
unreasonably withheld or delayed. 
 Notwithstanding the foregoing and for the avoidance of doubt, none of the Financial
Covenants expressly set forth in this Agreement on the date hereof, or the defined terms used therein (in each case as modified from time to time pursuant to the terms of Section 17 hereof) shall be deemed terminated, amended, waived or
otherwise modified as a result of the addition, termination, amendment, waiver or other modification of any Most Favored Provision. 
 10.
NEGATIVE COVENANTS. 
 The Company covenants that during the Issuance Period and so long thereafter as any of the Notes are
outstanding: 
 10.1. Transactions with Affiliates. 

The Company will not and will not permit any Subsidiary to enter into directly or indirectly any transaction or group of related
transactions (including, without limitation, the purchase, lease, sale or exchange of properties of any kind or the rendering of any service) with any Affiliate (other than the Company or another Subsidiary), except (i) any Restricted Payment
permitted by Section 10.8, (ii) compensation (including bonuses), other benefits (including retirement, health, stock option and other incentive or benefit plans) and indemnification and insurance arrangements for any employee, officer or
director of the Company or any Affiliate in the ordinary course of business and (iii) any transaction or group of related transactions in the ordinary course and pursuant to the reasonable requirements of the Company’s or such

  
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Subsidiary’s business and upon fair and reasonable terms no less favorable to the Company or such Subsidiary than would be obtainable in a comparable arm’s-length transaction with a
Person not an Affiliate. 
 10.2. Fundamental Changes. 

The Company will not, and will not permit any Subsidiary to, merge into or consolidate with any other Person, or permit any other Person
to merge into or consolidate with it, or sell, transfer, lease or otherwise dispose of (in one transaction or in a series of transactions) all or substantially all of its assets, or all or substantially all of the stock of any of its Subsidiaries
(in each case, whether now owned or hereafter acquired), or liquidate or dissolve, except that, if at the time thereof and immediately after giving effect thereto no Default shall have occurred and be continuing (i) any Person may merge into
the Company in a transaction in which the Company is the surviving corporation, (ii) any Person other than the Company may merge into any Subsidiary in a transaction in which the surviving entity is a Subsidiary, (iii) any Subsidiary may
sell, transfer, lease or otherwise dispose of its assets to the Company or to another Subsidiary, and the Company may sell, transfer, lease or otherwise dispose of its assets to any Subsidiary, (iv) Dispositions otherwise permitted by
Section 10.9 shall be permitted, and (v) any Subsidiary may liquidate or dissolve if the Company determines in good faith that such liquidation or dissolution is in the best interests of the Company and is not materially disadvantageous to
the holders of the Notes. 
 10.3. Lines of Business. 

The Company will not engage in any business, if, as a result, when taken as a whole, the general nature of the business of the Company and
its Subsidiaries would be substantially changed from the general nature of the business of the Company and its Subsidiaries on the date of this Agreement. 
 10.4. Terrorism Sanctions Regulations. 
 The Company will not and will not
permit any Subsidiary to (a) become a Person described or designated in the Specially Designated Nationals and Blocked Persons List of the Office of Foreign Assets Control or in Section 1 of the Anti-Terrorism Order or (b) knowingly
engage in any dealings or transactions with any such Person. 
 10.5. Liens. 

The Company will not, and will not permit any Subsidiary to, create, incur, assume or permit to exist any Lien on any property or asset
now owned or hereafter acquired by it, or assign or sell any income or revenues (including accounts receivable) or rights in respect of any thereof, except: 
 (a) Permitted Encumbrances; 
 (b) any Lien on any property or asset
of the Company or any Subsidiary set forth in Schedule 10.5; provided that (i) such Lien shall not apply to any other property or asset of the Company or any Subsidiary and (ii) such Lien shall secure only those

  
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obligations which it secures on the date hereof and extensions, renewals and replacements thereof that do not increase the outstanding principal amount thereof; 

(c) any Lien existing on any property or asset prior to the acquisition thereof by the Company or any Subsidiary or
existing on any property or asset of any Person that becomes a Subsidiary after the date hereof prior to the time such Person becomes a Subsidiary; provided that (i) such Lien is not created in contemplation of or in connection with such
acquisition or such Person becoming a Subsidiary, as the case may be, (ii) such Lien shall not apply to any other property or assets of the Company or any Subsidiary and (iii) such Lien shall secure only those obligations which it secures
on the date of such acquisition or the date such Person becomes a Subsidiary, as the case may be, and extensions, renewals and replacements thereof that do not increase the outstanding principal amount thereof; 

(d) Liens on fixed or capital assets acquired, constructed or improved by the Company or any Subsidiary; provided that
(i) such security interests and the Indebtedness secured thereby are incurred prior to or within 90 days after such acquisition or the completion of such construction or improvement, (ii) the Indebtedness secured thereby does not exceed
80% of the cost of acquiring, constructing or improving such fixed or capital assets, and (iii) such security interests shall not apply to any other property or assets of the Company or any Subsidiary; 

(e) Liens on Accounts Receivable of the Company or any Subsidiary and other assets of any Receivables Subsidiary, in each
case arising in connection with any Permitted Accounts Receivable Securitization; and 
 (f) Liens securing other
Indebtedness of the Company and its Subsidiaries not expressly permitted by clauses (a) through (e) above; provided that the aggregate amount of Indebtedness secured by Liens permitted by this clause (f) does not at any time
exceed the amount of Priority Debt to the extent permitted under Section 10.6. 
 10.6. Priority Debt. 

The Company will not at any time permit Priority Debt to exceed 20% of Consolidated Net Worth at such time. 

10.7. Swap Agreements. 
 The Company will not, and will not permit any of its Subsidiaries to, enter into any Swap Agreement, other than Swap Agreements entered into in the ordinary course of business to hedge or mitigate risks
to which the Company or any Subsidiary is exposed in the conduct of its business or the management of its liabilities. 

10.8. Restricted Payments. 
 The Company will not, and will not permit any of its Subsidiaries to, declare or make, or agree to pay or make, directly or indirectly, any Restricted Payment; provided that the Company and its
Subsidiaries may make any Restricted Payment which, together with all other Restricted 

  
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Payments made by all Persons pursuant to this proviso since June 30, 2009 would not exceed the sum of (x) $88,100,000 plus (y) 50% of the cumulative Consolidated Adjusted Net
Income of the Company for the period (taken as one accounting period) since June 30, 2009 through the last day of the fiscal quarter for which financial statements have been delivered pursuant to Section 7.1(a) or (b), and provided further
that (i) the Company may declare and pay dividends with respect to its Capital Stock payable solely in additional shares of Capital Stock, (ii) Subsidiaries may declare and pay dividends and may make distributions ratably with respect to
their Capital Stock, and (iii) the Company may make Restricted Payments pursuant to and in accordance with stock option plans or other benefit plans for directors, management or employees of the Company and its Subsidiaries and stock option
plans for employees or former employees of Olin in connection with the Spin Off. 
 10.9. Disposition of Property.

 The Company will not, and will not permit any of its Subsidiaries to, directly or indirectly dispose of any of its property,
whether now owned or hereafter acquired, or, in the case of any Subsidiary, issue or sell any shares of such Subsidiary’s Capital Stock to any Person, except: 

(a) the Disposition of obsolete or worn out property in the ordinary course of business; 

(b) the sale of inventory in the ordinary course of business; 

(c) Dispositions permitted by Section 10.2; 

(d) the sale or issuance of any Subsidiary’s Capital Stock to the Company or any Subsidiary; 

(e) sales of Accounts Receivable pursuant to a Permitted Accounts Receivable Securitization; and 

(f) any other Dispositions by such Persons of property for cash or cash equivalents or other readily marketable publicly
traded securities at not less than its fair market value, or for other property of an equal or greater value than the property Disposed of (including, without limitation, joint venture interests, seller’s notes or other securities) as
determined in good faith by the board of directors of the Company or a duly authorized committee thereof at the time of such Disposition so long as the aggregate book value of the assets being Disposed of at such time when added to the book value of
all other assets of the Company and its Subsidiaries Disposed of during the period of 365 days ending on the date of such Disposition shall not exceed 10% of the book value of Consolidated Total Assets, determined as of the end of the fiscal quarter
immediately preceding such Disposition; provided that if the Net Proceeds from any Disposition are applied to a Debt Prepayment Application or a Property Reinvestment Application within 365 days after such Disposition, then such Disposition,
only for the purpose of determining compliance with this subsection (f) as of any date, shall be deemed not to be a Disposition as of the date of such application of such Net Proceeds. 

  
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 10.10. Sales and Leasebacks. 

The Company will not, and will not permit any of its Subsidiaries to, enter into any arrangement providing for the leasing to the Company
or any of its Subsidiaries of real or personal property that has been or is to be (a) sold or transferred by the Company or any of its Subsidiaries or (b) constructed or acquired by a third party in anticipation of a program of leasing to
the Company, or any of its Subsidiaries (any such transaction, a “Sale-Leaseback”); provided that Sale-Leasebacks by all such Persons of property having a fair market value not to exceed $50,000,000 in the aggregate since the date
hereof shall be permitted. 
 10.11. Changes in Fiscal Periods. 

The Company will not, and will not permit any of its Subsidiaries to, directly or indirectly permit the fiscal year of the Company to end
on a day other than December 31. 
 10.12. Financial Covenants. 

(a) Consolidated Leverage Ratio. The Company will not permit the Consolidated Leverage Ratio as at the last day of
any period of four consecutive fiscal quarters of the Company to exceed 3.5:1.0. 
 (b) Consolidated Interest
Coverage Ratio. The Company will not permit the Consolidated Interest Coverage Ratio for any period of four consecutive fiscal quarters of the Company to be less than 3.0:1.0. 

10.13. Acquisitions. 
 The Company will not, and will not permit any of its Subsidiaries to, purchase or otherwise acquire (in one transaction or a series of transactions) all of the Capital Stock of, or all or a substantial
part of the assets of, or a business unit (including a complete products line) or a division of, any Person other than pursuant to a Permitted Acquisition. 
 11. EVENTS OF DEFAULT. 
 An “Event of Default” shall exist
if any of the following conditions or events shall occur and be continuing: 
 (a) the Company defaults in the
payment of any principal or Make-Whole Amount, if any, on any Note when the same becomes due and payable, whether at maturity or at a date fixed for prepayment or by declaration or otherwise; or 

(b) the Company defaults in the payment of any interest on any Note for five Business Days after the same becomes due and
payable; or 
 (c) the Company defaults in the performance of or compliance with any term contained in
Section 7.1(d), Section 9.5, Section 10 or any Most Favored Provision; or 

  
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 (d) the Company defaults in the performance of or compliance with any
term contained herein (other than those referred to in Sections 11(a), (b) and (c)) and such default is not remedied within 30 days after the earlier of (i) a Responsible Officer obtaining actual knowledge of such default and
(ii) the Company receiving written notice of such default from any holder of a Note (any such written notice to be identified as a “notice of default” and to refer specifically to this Section 11(d)); or 

(e) any representation or warranty made in writing by or on behalf of the Company or by any officer of the Company in this
Agreement or in any writing furnished in connection with the transactions contemplated hereby proves to have been false or incorrect in any material respect on the date as of which made; or 

(f) (i) the Company or any Subsidiary shall fail to make any payment (whether of principal or interest and regardless of
amount) in respect of any Threshold Indebtedness, when and as the same shall become due and payable after any applicable grace period, or (ii) the Company or any Subsidiary shall fail to observe or perform any other term, covenant, condition or
agreement contained in any agreement or instrument evidencing, governing or relating to any Threshold Indebtedness after any applicable grace period if the effect of any failure referred to in this clause (ii) is to cause, or permit the holder
or holders of such Threshold Indebtedness or a trustee or other representative on its or their behalf (with or without the giving of notice) immediately to cause, such Threshold Indebtedness to become due prior to its stated maturity, or
(iii) as a consequence of the occurrence or continuation of any event or condition (other than the passage of time or the right of the holder of Threshold Indebtedness to convert such Threshold Indebtedness into equity interests), (x) the
Company or any Subsidiary has become obligated to purchase or repay Threshold Indebtedness before its regular maturity or before its regularly scheduled dates of payment, or (y) one or more Persons have the right to require the Company or any
Subsidiary so to purchase or repay Threshold Indebtedness; or 
 (g) the Company or any Subsidiary (other than
any Immaterial Subsidiary) shall become unable, admit in writing its inability or fail generally to pay its debts as they become due; or 
 (h) the Company or any Subsidiary (other than any Immaterial Subsidiary) shall (i) voluntarily commence any proceeding or file any petition seeking liquidation, reorganization or other relief under
any Federal, state or foreign bankruptcy, insolvency, receivership or similar law now or hereafter in effect, (ii) consent to the institution of, or fail to contest in a timely and appropriate manner, any proceeding or petition described in
clause (i) of this Article, (iii) apply for or consent to the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for the Company or any Subsidiary (other than any Immaterial Subsidiary) or for a
substantial part of its assets, (iv) file an answer admitting the material allegations of a petition filed against it in any such proceeding, (v) make a general assignment for the benefit of creditors or (vi) take any action for the
purpose of effecting any of the foregoing; or 

  
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 (i) an involuntary proceeding shall be commenced or an involuntary petition
shall be filed seeking (i) liquidation, reorganization or other relief in respect of the Company or any Subsidiary (other than an Immaterial Subsidiary) or its debts, or of a substantial part of its assets, under any Federal, state or foreign
bankruptcy, insolvency, receivership or similar law now or hereafter in effect or (ii) the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for the Company or any Subsidiary (other than an Immaterial
Subsidiary) or for a substantial part of its assets, and, in any such case, such proceeding or petition shall continue undismissed for 60 days or an order or decree approving or ordering any of the foregoing shall be entered; or 

(j) one or more judgments for the payment of money in an aggregate amount in excess of the Threshold Judgment Amount
(excluding any amount that is covered by insurance where the relevant insurance company has been notified of the claim or judgment and has not expressly denied coverage in writing) shall be rendered against the Company, any Subsidiary or any
combination thereof and the same shall remain undischarged for a period of 60 consecutive days during which execution shall not be effectively stayed, or any action shall be legally taken by a judgment creditor to attach or levy upon any assets of
the Company or any Subsidiary to enforce any such judgment; or 
 (k) if (i) an ERISA Event shall have
occurred, (ii) the aggregate “amount of unfunded benefit liabilities” (within the meaning of section 4001(a)(18) of ERISA) under all Plans, determined in accordance with Title IV of ERISA, shall exceed the Threshold ERISA Amount,
(iii) the Company or any ERISA Affiliate shall have incurred or is reasonably expected to incur any liability pursuant to Title I or IV of ERISA or the penalty or excise tax provisions of the Code relating to employee benefit plans, or
(iv) the Company or any Subsidiary establishes or amends any employee welfare benefit plan that provides post-employment welfare benefits in a manner that would increase the liability of the Company or any Subsidiary thereunder; and any such
event or events described in clauses (i) through (iv) above, either individually or together with any other such event or events, could reasonably be expected to have a Material Adverse Effect. 

As used in Section 11(k), the terms “employee benefit plan” and “employee welfare benefit plan” shall have the respective
meanings assigned to such terms in section 3 of ERISA. 
 12. REMEDIES ON DEFAULT, ETC. 

12.1. Acceleration. 
 (a) If an Event of Default with respect to the Company described in Section 11(g), (h) or (i) has occurred, all the Notes then outstanding shall automatically become immediately due and
payable. 
 (b) If any other Event of Default has occurred and is continuing, the Required Holders may at any
time at their option, by notice or notices to the Company, declare all the Notes then outstanding to be immediately due and payable. 
 (c) If any Event of Default described in Section 11(a) or (b) has occurred and is continuing, any holder or holders of Notes at the time outstanding affected by such

  
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Event of Default may at any time, at its or their option, by notice or notices to the Company, declare all the Notes held by it or them to be immediately due and payable. 

Upon any Notes becoming due and payable under this Section 12.1, whether automatically or by declaration, such Notes will forthwith
mature and the entire unpaid principal amount of such Notes, plus (x) all accrued and unpaid interest thereon (including, without limitation, interest accrued thereon at the Default Rate) and (y) the Make-Whole Amount determined in respect
of such principal amount (to the full extent permitted by applicable law), shall all be immediately due and payable, in each and every case without presentment, demand, protest or further notice, all of which are hereby waived. The Company
acknowledges, and the parties hereto agree, that each holder of a Note has the right to maintain its investment in the Notes free from repayment by the Company (except as herein specifically provided for) and that the provision for payment of a
Make-Whole Amount by the Company in the event that the Notes are prepaid or are accelerated as a result of an Event of Default, is intended to provide compensation for the deprivation of such right under such circumstances. 

12.2. Other Remedies. 
 If any Default or Event of Default has occurred and is continuing, and irrespective of whether any Notes have become or have been declared immediately due and payable under Section 12.1, the holder
of any Note at the time outstanding may proceed to protect and enforce the rights of such holder by an action at law, suit in equity or other appropriate proceeding, whether for the specific performance of any agreement contained herein or in any
Note, or for an injunction against a violation of any of the terms hereof or thereof, or in aid of the exercise of any power granted hereby or thereby or by law or otherwise. 
 12.3. Rescission. 
 At any time after any Notes have been declared due and
payable pursuant to Section 12.1(b) or (c), the Required Holders, by written notice to the Company, may rescind and annul any such declaration and its consequences if (a) the Company has paid all overdue interest on the Notes, all
principal of and Make-Whole Amount, if any, on any Notes that are due and payable and are unpaid other than by reason of such declaration, and all interest on such overdue principal and Make-Whole Amount, if any, and (to the extent permitted by
applicable law) any overdue interest in respect of the Notes, at the Default Rate, (b) neither the Company nor any other Person shall have paid any amounts that have become due solely by reason of such declaration, (c) all Events of
Default and Defaults, other than non-payment of amounts that have become due solely by reason of such declaration, have been cured or have been waived pursuant to Section 17, and (d) no judgment or decree has been entered for the payment
of any monies due pursuant hereto or to the terms of the Notes. No rescission and annulment under this Section 12.3 will extend to or affect any subsequent Event of Default or Default or impair any right consequent thereon. 

12.4. No Waivers or Election of Remedies, Expenses, Etc. 
 No course of dealing and no delay on the part of any holder of any Note in exercising any right, power or remedy shall operate as a waiver thereof or otherwise prejudice such holder’s

  
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rights, powers or remedies. No right, power or remedy conferred by this Agreement or by any Note upon any holder thereof shall be exclusive of any other right, power or remedy referred to herein
or therein or now or hereafter available at law, in equity, by statute or otherwise. Without limiting the obligations of the Company under Section 15, the Company will pay to the holder of each Note on demand such further amount as shall be
sufficient to cover all costs and expenses of such holder incurred in any enforcement or collection under this Section 12, including, without limitation, reasonable attorneys’ fees, expenses and disbursements. 

13. REGISTRATION; EXCHANGE; SUBSTITUTION OF NOTES. 
 13.1. Registration of Notes. 
 The Company shall keep at its principal
executive office a register for the registration and registration of transfers of Notes. The name and address of each holder of one or more Notes, each transfer thereof and the name and address of each transferee of one or more Notes shall be
registered in such register. Prior to due presentment for registration of transfer, the Person in whose name any Note shall be registered shall be deemed and treated as the owner and holder thereof for all purposes hereof, and the Company shall not
be affected by any notice or knowledge to the contrary. The Company shall give to any holder of a Note that is an Institutional Investor promptly upon request therefor, a complete and correct copy of the names and addresses of all registered holders
of Notes. 
 13.2. Transfer and Exchange of Notes. 

Upon surrender of any Note to the Company at the address and to the attention of the designated officer (all as specified in
Section 18(iii)) for registration of transfer or exchange (and in the case of a surrender for registration of transfer accompanied by a written instrument of transfer duly executed by the registered holder of such Note or such holder’s
attorney duly authorized in writing and accompanied by the relevant name, address and other details for notices of each transferee of such Note or part thereof) within ten Business Days thereafter the Company shall execute and deliver, at the
Company’s expense (except as provided below), one or more new Notes (as requested by the holder thereof) of the same Series as such surrendered Note in exchange therefor, in an aggregate principal amount equal to the unpaid principal amount of
the surrendered Note. Each such new Note shall be payable to such Person as such holder may request and shall be substantially in the form of Exhibit 1-A, in the case of a Series A Note, or in the form of Exhibit 1-B, in the case of a Shelf Note.
Each such new Note shall be dated and bear interest from the date to which interest shall have been paid on the surrendered Note or dated the date of the surrendered Note if no interest shall have been paid thereon. The Company may require payment
of a sum sufficient to cover any stamp tax or governmental charge imposed in respect of any such transfer of Notes. Notes shall not be transferred in denominations of less than $100,000, provided that if necessary to enable the registration of
transfer by a holder of its entire holding of Notes, one Note may be in a denomination of less than $100,000. Any transferee, by its acceptance of a Note registered in its name (or the name of its nominee), shall be deemed to have made the
representation set forth in Section 6.2. 

  
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 13.3. Replacement of Notes. 

Upon receipt by the Company at the address and to the attention of the designated officer (all as specified in Section 18(iii)) of
evidence reasonably satisfactory to it of the ownership of and the loss, theft, destruction or mutilation of any Note (which evidence shall be, in the case of an Institutional Investor, notice from such Institutional Investor of such ownership and
such loss, theft, destruction or mutilation), and 
 (a) in the case of loss, theft or destruction, of indemnity
reasonably satisfactory to it (provided that if the holder of such Note is, or is a nominee for, an original Purchaser or another holder of a Note with a minimum net worth of at least $100,000,000 or a Qualified Institutional Buyer, such
Person’s own unsecured agreement of indemnity shall be deemed to be satisfactory), or 
 (b) in the case of
mutilation, upon surrender and cancellation thereof, 
 within ten Business Days thereafter the Company at its own expense shall execute and
deliver, in lieu thereof, a new Note of the same Series as such lost, stolen, destroyed or mutilated Note, dated and bearing interest from the date to which interest shall have been paid on such lost, stolen, destroyed or mutilated Note or dated the
date of such lost, stolen, destroyed or mutilated Note if no interest shall have been paid thereon. 
 14. PAYMENTS ON NOTES. 

14.1. Place of Payment. 
 Subject to Section 14.2, payments of principal, Make-Whole Amount, if any, and interest becoming due and payable on the Notes shall be made in New York, New York, at the principal office of JP Morgan
Chase Bank, N.A. in such jurisdiction. The Company may at any time, by notice to each holder of a Note, change the place of payment of the Notes so long as such place of payment shall be either the principal office of the Company in such
jurisdiction or the principal office of a bank or trust company in such jurisdiction. 
 14.2. Home Office Payment.

 So long as any Purchaser or its nominee shall be the holder of any Note, and notwithstanding anything contained in
Section 14.1 or in such Note to the contrary, the Company will pay all sums becoming due on such Note for principal, Make-Whole Amount, if any, and interest and all other amounts by the method and at the address specified for such purpose below
such Purchaser’s name in Schedule A (in the case of the Series A Notes) or as specified in such Purchaser’s Confirmation of Acceptance (in the case of a Shelf Note), or by such other method or at such other address as such Purchaser shall
have from time to time specified to the Company in writing for such purpose, without the presentation or surrender of such Note or the making of any notation thereon, except that upon written request of the Company made concurrently with or
reasonably promptly after payment or prepayment in full of any Note, such Purchaser shall surrender such Note for cancellation, reasonably promptly after any such request, to the Company at its principal executive office or at the place of payment
most recently designated by the Company pursuant to Section 14.1. Prior to any sale or other disposition of any Note held by 

  
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a Purchaser or its nominee, such Purchaser will, at its election, either endorse thereon the amount of principal paid thereon and the last date to which interest has been paid thereon or
surrender such Note to the Company in exchange for a new Note or Notes pursuant to Section 13.2. The Company will afford the benefits of this Section 14.2 to any Institutional Investor that is the direct or indirect transferee of any Note
purchased by a Purchaser under this Agreement and that has made the same agreement relating to such Note as the Purchasers have made in this Section 14.2. 
 15. EXPENSES, ETC. 
 15.1. Transaction Expenses. 

Whether or not the transactions contemplated hereby are consummated, the Company will pay all reasonable costs and out-of-pocket expenses
(including reasonable attorneys’ fees of a special counsel and, if reasonably required by the Required Holders, local or other counsel) incurred by Prudential or the Purchasers and each other holder of a Note in connection with such
transactions and in connection with any amendments, waivers or consents under or in respect of this Agreement or the Notes (whether or not such amendment, waiver or consent becomes effective), including, without limitation: (a) the reasonable
costs and out-of-pocket expenses incurred in enforcing or defending (or determining whether or how to enforce or defend) any rights under this Agreement or the Notes or in responding to any subpoena or other legal process or informal investigative
demand issued in connection with this Agreement or the Notes, or by reason of being a holder of any Note, (b) the reasonable costs and out-of-pocket expenses, including financial advisors’ fees, incurred in connection with the insolvency
or bankruptcy of the Company or any Subsidiary or in connection with any work-out or restructuring of the transactions contemplated hereby and by the Notes and (c) the costs and expenses incurred in connection with the initial filing of this
Agreement and all related documents and financial information with the SVO, provided that such costs and expenses under this clause (c) shall not exceed $3,000. The Company will pay, and will save Prudential and each Purchaser and each other
holder of a Note harmless from, all claims in respect of any reasonable fees, costs or expenses, if any, of brokers and finders (other than those, if any, retained by Prudential or a Purchaser or other holder in connection with its purchase of the
Notes). 
 15.2. Survival. 
 The obligations of the Company under this Section 15 will survive the payment or transfer of any Note, the enforcement, amendment or waiver of any provision of this Agreement or the Notes, and the
termination of this Agreement. 
 16. SURVIVAL OF REPRESENTATIONS AND WARRANTIES; ENTIRE AGREEMENT. 

All representations and warranties contained herein shall survive the execution and delivery of this Agreement and the Notes, the purchase
or transfer by any Purchaser of any Note or portion thereof or interest therein and the payment of any Note, and may be relied upon by any subsequent holder of a Note, regardless of any investigation made at any time by or on behalf of such
Purchaser or any other holder of a Note. All statements contained in any 

  
 -40-

 
certificate or other instrument delivered by or on behalf of the Company pursuant to this Agreement shall be deemed representations and warranties of the Company under this Agreement. Subject to
the preceding sentence, this Agreement and the Notes embody the entire agreement and understanding between each Purchaser and the Company and supersede all prior agreements and understandings relating to the subject matter hereof. 

17. AMENDMENT AND WAIVER. 

17.1. Requirements. 
 This Agreement and the Notes may be amended, and the observance of any term hereof or of the Notes may be waived (either retroactively or prospectively), with (and only with) the written consent of the
Company and the Required Holders, except that (a) no amendment or waiver of any of the provisions of Section 1.1, 2.1, 3, 4, 5, 6 or 21 (or any defined term as it is used therein), will be effective as to any Purchaser unless consented to
by such Purchaser in writing, (b) (i) with the written consent of Prudential (and without the consent of any other holder of Notes), the provisions of Section 1.2 or 2.2 may be amended or waived (except insofar as any such amendment
or waiver would affect any rights or obligations with respect to the purchase and sale of Notes which shall have become Accepted Notes prior to such amendment or waiver), and (ii) with the written consent of all of the Purchasers which shall
have become obligated to purchase Accepted Notes of any Series (and not without the written consent of all such Purchasers), any of the provisions of Sections 2.2 and 4 may be amended or waived insofar as such amendment or waiver would affect only
rights or obligations with respect to the purchase and sale of the Accepted Notes of such Series or the terms and provisions of such Accepted Notes and (c) no such amendment or waiver may, without the written consent of the holder of each Note
at the time outstanding affected thereby, (i) subject to the provisions of Section 12 relating to acceleration or rescission, change the amount or time of any prepayment or payment of principal of, or reduce the rate or change the time of
payment or method of computation of interest or of the Make-Whole Amount on, the Notes, (ii) change the percentage of the principal amount of the Notes the holders of which are required to consent to any such amendment or waiver, or
(iii) amend Section 8, 11(a), 11(b), 12, 17 or 20. 
 17.2. Solicitation of Holders of Notes. 

(a) Solicitation. The Company will provide each holder of the Notes (irrespective of the amount of Notes then owned
by it) with sufficient information, sufficiently far in advance of the date a decision is required, to enable such holder to make an informed and considered decision with respect to any proposed amendment, waiver or consent in respect of any of the
provisions hereof or of the Notes, unless such proposed amendment, waiver or consent relates only to a specific Series of Accepted Notes which have not yet been purchased, in which case such information will only be required to be delivered to the
Purchasers which shall have become obligated to purchase Accepted Notes of such Series. The Company will deliver executed or true and correct copies of each amendment, waiver or consent effected pursuant to the provisions of this Section 17 to
each holder of outstanding Notes promptly following the date on which it is executed and delivered by, or receives the consent or approval of, the requisite holders of Notes. 

  
 -41-

 (b) Payment. The Company will not directly or indirectly pay or cause
to be paid any remuneration, whether by way of supplemental or additional interest, fee or otherwise, or grant any security or provide other credit support, to any holder of Notes as consideration for or as an inducement to the entering into by any
holder of Notes of any waiver or amendment of any of the terms and provisions hereof or of any Note unless such remuneration is concurrently paid, or security is concurrently granted or other credit support concurrently provided, on the same terms,
ratably to each holder of Notes then outstanding even if such holder did not consent to such waiver or amendment. 
 17.3.
Binding Effect, Etc. 
 Any amendment or waiver consented to as provided in this Section 17 applies equally to all
holders of Notes and is binding upon them and upon each future holder of any Note and upon the Company without regard to whether such Note has been marked to indicate such amendment or waiver. No such amendment or waiver will extend to or affect any
obligation, covenant, agreement, Default or Event of Default not expressly amended or waived or impair any right consequent thereon. No course of dealing between the Company and the holder of any Note nor any delay in exercising any rights hereunder
or under any Note shall operate as a waiver of any rights of any holder of such Note. As used herein, the term “this Agreement” and references thereto shall mean this Agreement as it may from time to time be amended or supplemented.

 17.4. Notes Held by Company, Etc. 
 Solely for the purpose of determining whether the holders of the requisite percentage of the aggregate principal amount of Notes then outstanding approved or consented to any amendment, waiver or consent
to be given under this Agreement or the Notes, or have directed the taking of any action provided herein or in the Notes to be taken upon the direction of the holders of a specified percentage of the aggregate principal amount of Notes then
outstanding, Notes directly or indirectly owned by the Company or any of its Affiliates shall be deemed not to be outstanding. 
 18.
NOTICES. 
 All notices and communications provided for hereunder shall be in writing and sent (a) by telecopy if the
sender on the same day sends a confirming copy of such notice by a recognized overnight delivery service (charges prepaid), (b) by registered or certified mail with return receipt (postage prepaid), or (c) by a recognized overnight
delivery service (with charges prepaid). Any such notice must be sent: 
 (i) if to a Purchaser or its nominee,
to such Purchaser or nominee at the address specified for such communications in Schedule A (in the case of the Series A Notes) or as specified by such Purchaser in its Confirmation of Acceptance (in the case of Shelf Notes), or at such other
address as such Purchaser or nominee shall have specified to the Company in writing, 
 (ii) if to any other
holder of any Note, to such holder at such address as such other holder shall have specified to the Company in writing, or 

  
 -42-

  

	 	(iii)	if to the Company: 

 501
Merritt 7 
 P.O. Box 5204 
 Norwalk, Connecticut 06851 
 Tel: 203-229-3881 

Fax: 203-229-3143 
 Attention: Treasurer 
 with a copy to: 

501 Merritt 7 

P.O. Box 5204 

Norwalk, Connecticut 06851 
 Tel: 203-229-2683 
 Fax: 203-229-3292 

Attention: Corporate Secretary 
 or at such other address as the Company shall have specified to the holder of each Note in writing. 
 Notices under this Section 18 will be deemed given only when actually received. 
 Notwithstanding anything to the contrary in this Section 18, any communication pursuant to Section 2.2 shall be made by the method specified for such communication in Section 2.2, and shall
be effective to create any rights or obligations under this Agreement only if, in the case of a telephone communication, an Authorized Officer of the party conveying the information and of the party receiving the information are parties to the
telephone call, and in the case of a telecopier communication, the communication is signed by an Authorized Officer of the party conveying the information, addressed to the attention of an Authorized Officer of the party receiving the information,
and in fact received at the telecopier terminal the number of which is listed for the party receiving the communication in the Information Schedule attached hereto or at such other telecopier terminal as the party receiving the information shall
have specified in writing to the party sending such information. 
 19. REPRODUCTION OF DOCUMENTS. 

This Agreement and all documents relating thereto, including, without limitation, (a) consents, waivers and modifications that may
hereafter be executed, (b) documents received by Prudential or any Purchaser at any Closing (except the Notes themselves), and (c) financial statements, certificates and other information previously or hereafter furnished to Prudential or
any Purchaser, may be reproduced by Prudential or such Purchaser by any photographic, photostatic, electronic, digital or other similar process and Prudential or such Purchaser may destroy any original document so reproduced. The Company agrees and
stipulates that, to the extent permitted by applicable law, any such reproduction shall be admissible in evidence as the original itself in any judicial or administrative proceeding (whether or not the original is in existence and whether or not
such reproduction was made by Prudential or such Purchaser in the regular course of business) and any enlargement, facsimile or further reproduction of such 

  
 -43-

 
reproduction shall likewise be admissible in evidence. This Section 19 shall not prohibit the Company, Prudential or any other holder of Notes from contesting any such reproduction to the
same extent that it could contest the original, or from introducing evidence to demonstrate the inaccuracy of any such reproduction. 
 20.
CONFIDENTIAL INFORMATION. 
 For the purposes of this Section 20, “Confidential Information” means
information delivered to Prudential or any Purchaser by or on behalf of the Company or any Subsidiary in connection with the transactions contemplated by or otherwise pursuant to this Agreement that is proprietary or confidential in nature and that
was clearly marked or labeled or otherwise adequately identified when received by Prudential or such Purchaser as being confidential information of the Company or such Subsidiary, provided that such term does not include information that
(a) was publicly known or otherwise known to Prudential or such Purchaser prior to the time of such disclosure, (b) subsequently becomes publicly known through no act or omission by Prudential or such Purchaser or any person acting on
Prudential’s or such Purchaser’s behalf, (c) otherwise becomes known to Prudential or such Purchaser other than through disclosure by the Company or any Subsidiary unless the source of such information is known by Prudential or such
Purchaser to be bound by a confidentiality agreement with respect to such information or (d) constitutes financial statements delivered to Prudential or such Purchaser under Section 7.1 that are otherwise publicly available. Prudential and
each Purchaser will maintain the confidentiality of such Confidential Information in accordance with procedures adopted by Prudential and such Purchaser in good faith to protect confidential information of third parties delivered to such Persons,
provided that Prudential and such Purchaser may deliver or disclose Confidential Information to (i) its directors, trustees, officers, employees, agents, attorneys and affiliates (to the extent such disclosure reasonably relates to the
administration of the investment represented by its Notes), (ii) its financial advisors and other professional advisors who agree to hold confidential the Confidential Information substantially in accordance with the terms of this
Section 20, (iii) any other holder of any Note, (iv) any Institutional Investor to which it sells or offers to sell such Note or any part thereof or any participation therein (if such Person has agreed in writing prior to its receipt
of such Confidential Information to be bound by the provisions of this Section 20), (v) any Person from which it offers to purchase any security of the Company (if such Person has agreed in writing prior to its receipt of such Confidential
Information to be bound by the provisions of this Section 20), (vi) any federal or state regulatory authority having jurisdiction over Prudential or such Purchaser, (vii) the NAIC or the SVO or, in each case, any similar organization,
or any nationally recognized rating agency that requires access to information about such Purchaser’s investment portfolio, or (viii) any other Person to which such delivery or disclosure may be necessary or appropriate (w) to effect
compliance with any law, rule, regulation or order applicable to Prudential or such Purchaser, (x) in response to any subpoena or other legal process, (y) in connection with any litigation to which Prudential or such Purchaser is a party
or (z) if an Event of Default has occurred and is continuing, to the extent Prudential or such Purchaser may reasonably determine such delivery and disclosure to be necessary or appropriate in the enforcement or for the protection of the rights
and remedies under Prudential’s or such Purchaser’s Notes and this Agreement. Each holder of a Note, by its acceptance of a Note, will be deemed to have agreed to be bound by and to be entitled to the benefits of this Section 20 as
though it were a party to this Agreement. On reasonable request by the Company in connection with the delivery to any holder of a Note of 

  
 -44-

 
information required to be delivered to such holder under this Agreement or requested by such holder (other than a holder that is a party to this Agreement or its nominee), such holder will enter
into an agreement with the Company embodying the provisions of this Section 20. 
 21. SUBSTITUTION OF PURCHASER. 

Each Purchaser shall have the right to substitute any one of its Affiliates as the purchaser of the Notes that it has agreed to purchase
hereunder, by written notice to the Company, which notice shall be signed by both such Purchaser and such Affiliate, shall contain such Affiliate’s agreement to be bound by this Agreement and shall contain a confirmation by such Affiliate of
the accuracy with respect to it of the representations set forth in Section 6. Upon receipt of such notice, any reference to such Purchaser in this Agreement (other than in this Section 21), shall be deemed to refer to such Affiliate in
lieu of such original Purchaser. In the event that such Affiliate is so substituted as a Purchaser hereunder and such Affiliate thereafter transfers to such original Purchaser all of the Notes then held by such Affiliate, upon receipt by the Company
of notice of such transfer, any reference to such Affiliate as a “Purchaser” in this Agreement (other than in this Section 21), shall no longer be deemed to refer to such Affiliate, but shall refer to such original Purchaser, and such
original Purchaser shall again have all the rights of an original holder of the Notes under this Agreement. 
 22. MISCELLANEOUS.

 22.1. Successors and Assigns. 
 All covenants and other agreements contained in this Agreement by or on behalf of any of the parties hereto bind and inure to the benefit of their respective successors and assigns (including, without
limitation, any subsequent holder of a Note) whether so expressed or not. 
 22.2. Payments Due on Non-Business Days.

 Notwithstanding anything in this Agreement or the Notes to the contrary (but without limiting the requirement in
Section 8.4 that notice of any optional prepayment specify a Business Day as the date fixed for such prepayment), any payment of principal of or Make-Whole Amount or interest on any Note that is due on a date other than a Business Day shall be
made on the next succeeding Business Day without including the additional days elapsed in the computation of the interest payable on such next succeeding Business Day; provided that, if the maturity date of any Note is a date other than a Business
Day, the payment otherwise due on such maturity date shall be made on the next succeeding Business Day and shall include the additional days elapsed in the computation of interest payable on such next succeeding Business Day. 

22.3. Accounting Terms. 
 All accounting terms used herein which are not expressly defined in this Agreement have the meanings respectively given to them in accordance with GAAP. Except as otherwise expressly provided herein, all
terms of an accounting or financial nature shall be construed in accordance with GAAP, all computations made pursuant to this Agreement shall be made in accordance with GAAP, and all financial statements shall be prepared in accordance with GAAP, in
each case as in effect from time to time; provided that, if the Company notifies the 

  
 -45-

 
Required Holders that the Company requests an amendment to any provision of this Agreement to eliminate the effect of any change occurring after the date hereof in GAAP or in the application
thereof on the operation of such provision (or if the Required Holders notify the Company that the Required Holders request an amendment to any provision of this Agreement for such purpose), regardless of whether any such notice is given before or
after such change in GAAP or in the application thereof, then such provision shall be interpreted on the basis of GAAP as in effect and applied immediately before such change shall have become effective until such notice shall have been withdrawn or
such provision amended in accordance with this Agreement. For purposes of determining compliance with the financial covenants contained in this Agreement, any election by the Company to measure an item of Indebtedness using fair value (as permitted
by Statement of Financial Accounting Standards No. 159 or any similar accounting standard) shall be disregarded and such determination shall be made as if such election had not been made. 

22.4. Severability. 
 Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without
invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall (to the full extent permitted by law) not invalidate or render unenforceable such provision in any other jurisdiction. 

22.5. Construction, Etc. 
 Each covenant contained herein shall be construed (absent express provision to the contrary) as being independent of each other covenant contained herein, so that compliance with any one covenant shall
not (absent such an express contrary provision) be deemed to excuse compliance with any other covenant. Where any provision herein refers to action to be taken by any Person, or which such Person is prohibited from taking, such provision shall be
applicable whether such action is taken directly or indirectly by such Person. 
 For the avoidance of doubt, all Schedules and
Exhibits attached to this Agreement shall be deemed to be a part hereof. 
 22.6. Counterparts. 

This Agreement may be executed in any number of counterparts, each of which shall be an original but all of which together shall
constitute one instrument. Each counterpart may consist of a number of copies hereof, each signed by less than all, but together signed by all, of the parties hereto. 
 22.7. Governing Law. 
 This Agreement shall be construed and enforced in
accordance with, and the rights of the parties shall be governed by, the law of the State of New York excluding choice-of-law principles of the law of such State that would permit the application of the laws of a jurisdiction other than such State.

  
 -46-

 22.8. Jurisdiction and Process; Waiver of Jury Trial. 

(a) The Company irrevocably submits to the non-exclusive jurisdiction of any New York State or federal court sitting in
the Borough of Manhattan, The City of New York, over any suit, action or proceeding arising out of or relating to this Agreement or the Notes. To the fullest extent permitted by applicable law, the Company irrevocably waives and agrees not to
assert, by way of motion, as a defense or otherwise, any claim that it is not subject to the jurisdiction of any such court, any objection that it may now or hereafter have to the laying of the venue of any such suit, action or proceeding brought in
any such court and any claim that any such suit, action or proceeding brought in any such court has been brought in an inconvenient forum. 
 (b) Nothing in this Section 22.8 shall affect the right of any holder of a Note to serve process in any manner permitted by law, or limit any right that the holders of any of the Notes may have to
bring proceedings against the Company in the courts of any appropriate jurisdiction or to enforce in any lawful manner a judgment obtained in one jurisdiction in any other jurisdiction. 

(c) THE PARTIES HERETO HEREBY WAIVE TRIAL BY JURY IN ANY ACTION BROUGHT ON OR WITH RESPECT TO THIS AGREEMENT, THE NOTES OR
ANY OTHER DOCUMENT EXECUTED IN CONNECTION HEREWITH OR THEREWITH. 
 * * * * * 

  
 -47-

 If you are in agreement with the foregoing, please sign the form of agreement on a
counterpart of this Agreement and return it to the Company, whereupon this Agreement shall become a binding agreement between you and the Company. 
  

			
	Very truly yours,
	
	ARCH CHEMICALS, INC.
		
	By	 	 /s/    W. Paul Bush

	Name:	 	W. Paul Bush
	Title:	 	Treasurer

  

	
	 This Agreement is hereby accepted
 and agreed to as of the date thereof.

 PRUDENTIAL INVESTMENT MANAGEMENT, INC.

  

			
	By	 	 /s/    Yvonne M. Guajardo

	Name:	 	Yvonne M. Guajardo
	Title:	 	Vice President

 THE PRUDENTIAL INSURANCE COMPANY OF
AMERICA 
  

			
	By	 	 /s/    Yvonne M. Guajardo

	Name:	 	Yvonne M. Guajardo
	Title:	 	Vice President

 GIBRALTAR LIFE INSURANCE CO., LTD.

  

			
	By:	 	Prudential Investment Management (Japan), Inc.,
as Investment Manager

 

			
	By:	 	 Prudential Investment Management, Inc.,
 as Sub-Adviser

  

					
		 	By	 	 /s/    Yvonne M. Guajardo

		 	Name:	 	Yvonne M. Guajardo
		 	Title:	 	Vice President

  
 -48-

 UNITED OF OMAHA LIFE INSURANCE COMPANY 

 

			
	By:	 	Prudential Private Placement Investors, L.P.
(as Investment Advisor)

 

			
	By:	 	 Prudential Private Placement Investors, Inc.
 (as its General Partner)

  

					
		 	By	 	 /s/    Yvonne M. Guajardo

		 	Name:	 	Yvonne M. Guajardo
		 	Title:	 	Vice President

 PRUDENTIAL RETIREMENT INSURANCE

   AND ANNUITY COMPANY 
  

			
	By:	 	Prudential Investment Management, Inc.,
		 	as investment manager

  

					
		 	By	 	 /s/    Yvonne M. Guajardo

		 	Name:	 	Yvonne M. Guajardo
		 	Title:	 	Vice President

 INFORMATION SCHEDULE 

Authorized Officers for Prudential 
 Prudential Investment Management, Inc. 
 c/o Prudential Capital Group 

1114 Avenue of the Americas, 30th Floor 
 New
York, NY 10036 
 Attention: Managing Director 
 Telecopy: 212-626-2077 
 Telephone: 212-626-2060 

Paul L. Meiring 
 Yvonne M. Guajardo 
 Engin W. Okaya 

Eric R. Seward 

  
 -1-

 INFORMATION SCHEDULE 

Authorized Officers 
 for 
 Arch Chemicals, Inc. 

 

					
	OFFICER	 	BUSINESS ADDRESS	 	BUSINESS PHONE & FAX
			
	 Michael E. Campbell
	 	Chairman, President and	 	(203) 229-3200
		 	Chief Executive Officer	 	FAX: (203) 229-3531
		 	501 Merritt 7	 	
		 	P. O. Box 5204	 	
		 	Norwalk, CT 06856-5204	 	
			
	 W. Paul Bush
	 	Treasurer	 	(203) 229-3881
		 	501 Merritt 7	 	FAX: (203) 229-3143
		 	P. O. Box 5204	 	
		 	Norwalk, CT 06856-5204	 	
			
	 Meghan E. DeMasi
	 	Controller	 	(203) 229-2766
		 	501 Merritt 7	 	FAX: (203) 229-3507
		 	P. O. Box 5204	 	
		 	Norwalk, CT 06856-5204	 	
			
	 Steven C. Giuliano
	 	Vice President & Chief	 	(203) 229-2678
		 	Financial Officer	 	FAX: (203) 229-3507
		 	501 Merritt 7	 	
		 	P. O. Box 5204	 	
		 	Norwalk, CT 06856-5204	 	
			
	 Louis S. Massimo
	 	Executive Vice President	 	(203) 229-3728
		 	& Chief Operating Officer	 	FAX: (203) 229-3913
		 	501 Merritt 7	 	
		 	P. O. Box 5204	 	
		 	Norwalk, CT 06856-5204	 	
			
	 Sarah A. O’Connor
	 	Vice President, General	 	(203) 229-2683
		 	Counsel & Corporate	 	FAX: (203) 229-2613
		 	Secretary	 	
		 	501 Merritt 7	 	
		 	P. O. Box 5204	 	
		 	Norwalk, CT 06856-5204	 	

  
 -2-

 SCHEDULE A 
 INFORMATION RELATING TO PURCHASERS 
  

					
	Purchaser Name	    	THE PRUDENTIAL INSURANCE COMPANY OF AMERICA
		
	Name in Which to Register Note(s)	    	THE PRUDENTIAL INSURANCE COMPANY OF AMERICA
		
	Senior Note Registration Number(s); Principal Amount(s)	    	 RA-1; $24,350,000

RA-2; $20,000,000

		
	Payment on Account of Note	    	
		
	 Method
	    	Federal Funds Wire Transfer
		
	 Account Information
	    	 JPMorgan Chase Bank

3 Chase Metrotech Center
 New York, New York
10004
 ABA No.: 021-000-021
 Account
Name: Prudential Managed Portfolio
 Account No.: P86188 (please do not include spaces) (in the case of payments on account of the Note
originally issued in the principal amount of $24,350,000.00)
  
 Account Name:
The Prudential - Privest Portfolio
 Account No.: P86189 (please do not include spaces) (in the case of payments on account of the Note
originally issued in the principal amount of $20,000,000.00)
  
 Ref: See
“Accompanying Information” below

			
	Accompanying information	    	Name of Issuer:	  	ARCH CHEMICALS, INC.
			
		    	Description of Security:	  	6.70% Series A Senior Notes due August 28, 2016
			
		    	PPN:	  	03937R A#9
		
		    	Due date and application (as among principal, interest, Make-Whole Amount) of the payment being made.
		
	Address/Fax for Notices Related to Payments	    	 The Prudential Insurance Company of America
 c/o Investment Operations Group
 Gateway Center Two, 10th Floor

100 Mulberry Street
 Newark, NJ
07102-4077
  
 Attention: Manager, Billings and Collections

 
 Recipient of telephonic prepayment notices:

 
 Manager, Trade Management Group

Tel: 973-367-3141
 Fax:
888-889-3832

  
 Schedule A

 Page 1 

							
			
	Address/Fax for All Other Notices	    	 The Prudential Insurance Company of America
 c/o Prudential Capital Group
 1114 Avenue of the Americas, 30th Floor
 New York, NY 10036
  
 Attention:
Managing Director
	  	
			
	Instructions re: Delivery of Notes	    	 Prudential Capital Group
 1114 Avenue of the Americas, 30th Floor
 New York, NY 10036

 
 Attention: Thais M. Alexander, Esq.

Telephone: 212-626-2067
	  	
		
	Signature Block	    	THE PRUDENTIAL INSURANCE COMPANY OF AMERICA
				
		    	By:	  	  
	  	
		    	Name:	  		  	
		    	Title:	  	Vice President	  	
		
	Tax Identification Number	    	22-1211670

  
 Schedule A

 Page 2 

  

					
	Purchaser Name	    	GIBRALTAR LIFE INSURANCE CO., LTD.
		
	Name in Which to Register Note(s)	    	GIBRALTAR LIFE INSURANCE CO., LTD.
		
	Senior Note Registration Number(s); Principal Amount(s)	    	RA-3; $20,000,000
		
	 Payment on Account of Note
  

Method
  

Account Information
	    	  
  
 Federal Funds Wire Transfer
  

JPMorgan Chase Bank
 3 Chase Metrotech
Center
 New York, New York 10004
 ABA
No.: 021-000-021
 Account Name: GIB Private Placement USD
 Account No.: P86406 (please do not include spaces)
  
 Ref: See “Accompanying Information” below

			
	Accompanying information	    	Name of Issuer:	    	ARCH CHEMICALS, INC.
			
		    	Description of Security:	    	 6.70% Series A Senior Notes due
 August 28, 2016

			
		    	PPN:	    	03937R A#9
		
		    	Due date and application (as among principal, interest, Make-Whole Amount) of the payment being made.
		
	 All Payments, other than principal,
 interest, Make-Whole Amount on
 Account of Note

 
 Method

 
 Account Information
	    	  
  
 Federal Funds Wire Transfer
  

JPMorgan Chase Bank
 3 Chase Metrotech
Center
 New York, New York 10004
 ABA
No.: 021-000-021
 Account No. 304199036
 Account Name:    Prudential International Insurance Service Company
 Ref: See
“Accompanying Information” below

			
	Accompanying information	    	Name of Issuer:	    	ARCH CHEMICALS, INC.
			
		    	Description of Security:	    	 6.70% Series A Senior Notes due
 August 28, 2016

			
		    	PPN:	    	03937R A#9
		
		    	Due date and application (e.g., type of fee) of the payment being made.
		
	 Address/Fax for Notices Related to
 Payments
	    	The Gibraltar Life Insurance Co., Ltd.
 2-13-10,
Nagatacho
 Chiyoda-ku, Tokyo 100-8953, Japan
  

Telephone: 81-3-5501-6680
 Facsimile:
81-3-5501-6432
 E-mail: yoshiki.saito@gib-life.co.jp
  

Attention: Yoshiki Saito, Vice President of Investment Operations Team

		
	Address/Fax for All Other Notices	    	Prudential Private Placement Investors, L.P.
 c/o Prudential
Capital Group
 1114 Avenue of the Americas, 30th Floor
 New York, NY 10036
  

Attention: Managing Director

		
	Instructions re: Delivery of Notes	    	The Gibraltar Life Insurance Co., Ltd.
 c/o Prudential
Capital Group
 1114 Avenue of the Americas, 30th Floor
 .New York, NY 10036
 Attn: Thais M. Alexander, Esq.

Tel: 212-626-2067

		
	Signature Block	    	GIBRALTAR LIFE INSURANCE CO., LTD.  

By:   Prudential Investment Management (Japan),

          Inc.,as Investment Manager

 
 By:   Prudential Investment
Management, Inc.,
           asSub-Adviser

 

By:______________________________

            Vice President

		
	Tax Identification Number	    	98-0408643

  
 Schedule A

 Page 3 

  

					
	Purchaser Name	    	UNITED OF OMAHA LIFE INSURANCE COMPANY
		
	Name in Which to Register Note(s)	    	UNITED OF OMAHA LIFE INSURANCE COMPANY
		
	Senior Note Registration Number(s); Principal Amount(s)	    	RA-4; $7,050,000
			
	Payment on Account of Note	    		  	
		
	 Method
	    	Federal Funds Wire Transfer
		
	 Account Information
	    	 JPMorgan Chase Bank

3 Chase Metrotech Center
 New York, New York
10004
 ABA No.: 021-000-021
 Private
Income Processing
 For Credit to account: 900-9000200
 For further credit to Account Name: United of Omaha Life
 Insurance Company

For further credit to Account Number: G09588

Ref: See “Accompanying Information” below

			
	Accompanying information	    	Name of Issuer:	  	ARCH CHEMICALS, INC.
			
		    	Description of Security:	  	6.70% Series A Senior Notes due August 28, 2016
			
		    	PPN:	  	03937R A#9
		
		    	Due date and application (as among principal, interest, Make-Whole Amount) of the payment being made.
			
	All Payments, other than principal, interest, Make-Whole Amount on Account of Note	    		  	
		
	 Method
	    	Federal Funds Wire Transfer
		
	 Account Information
	    	 JPMorgan Chase Bank

3 Chase Metrotech Center
 New York, New York
10004
 ABA No.: 021-000-021
 Account
No. G09588
 Account Name: United of Omaha Life Insurance Co.

		
		    	Ref: See “Accompanying Information” below
			
	Accompanying information	    	Name of Issuer:	  	ARCH CHEMICALS, INC.
			
		    	Description of Security:	  	6.70% Series A Senior Notes due August 28, 2016
			
		    	PPN:	  	03937R A#9
		
		    	Due date and application (e.g., type of fee) of the payment being made.

  
 Schedule A

 Page 4 

					
		
	Address/Fax for Notices Related to Payments	    	 JPMorgan Chase Bank

14201 Dallas Parkway - 13th Floor
 Dallas, TX
75254-2917
  
 Attn: Income Processing - G. Ruiz

a/c: G09588

		
	Address/Fax for All Other Notices	    	 Prudential Private Placement Investors, L.P.
 c/o Prudential Capital Group
 1114 Avenue of the Americas, 30th Floor
 New York, NY 10036
  
 Attention:
Managing Director

		
	Instructions re: Delivery of Notes	    	 (a)    Send physical security by nationwide overnight delivery
service to:
  
 JPMorgan Chase Bank

4 New York Plaza
 Ground Floor Receive
Window
 New York, NY 10004
  

Please include in the cover letter accompanying the Notes a reference to the Purchaser’s account number (United of Omaha Life Insurance Company;
Account Number: G09588).
  

(b)    Send copy by nationwide overnight delivery service to:

 
 Prudential Capital Group
 Gateway Center 4
 100 Mulberry, 7th Floor
 Newark, NJ 07102
  
 Attention:
Trade Management, Manager
 Telephone: (973) 367-3141

									
		
	Signature Block	    	UNITED OF OMAHA LIFE INSURANCE COMPANY
			
		    	By:	  	 Prudential Private Placement Investors, L.P.
 (as Investment Advisor)

			
		    	By:	  	 Prudential Private Placement Investors, Inc.
 (as its General Partner)

					
		    		  	By:	  	  
	  	
		    		  		  	Vice President	  	
		
	 Tax Identification Number
	    	47-0322111

  
 Schedule A

 Page 5 

					
	Purchaser Name	    	PRUDENTIAL RETIREMENT INSURANCE AND ANNUITY COMPANY
		
	Name in Which to Register Note(s)	    	PRUDENTIAL RETIREMENT INSURANCE AND ANNUITY COMPANY
		
	Senior Note Registration Number(s); Principal Amount(s)	    	RA-5; $3,600,000
			
	Payment on Account of Note	    		    	
		
	 Method
	    	Federal Funds Wire Transfer
		
	 Account Information
	    	 JPMorgan Chase Bank

3 Chase Metrotech Center
 New York, New York
10004
 ABA No.: 021-000-021
 Account
Name: PRIAC - SA - Principal Preservation - Privates
 Account No. P86345 (please do not include spaces)

 
 Ref: See “Accompanying Information” below

			
	Accompanying information	    	Name of Issuer:	    	ARCH CHEMICALS, INC.
			
		    	Description of Security:	    	6.70% Series A Senior Notes due August 28, 2016
			
		    	PPN:	    	03937R A#9
		
		    	Due date and application (as among principal, interest, Make-Whole Amount) of the payment being made.
		
	Address/Fax for Notices Related to Payments	    	 Prudential Retirement Insurance and Annuity Company
 c/o Prudential Investment Management, Inc.
 Private Placement Trade Management

PRIAC Administration
 Gateway Center Four, 7th
Floor
 100 Mulberry Street
 Newark, NJ
07102
  
 Telephone: (973) 802-8107

Facsimile: (888) 889-3832

		
	Address/Fax for All Other Notices	    	 Prudential Retirement Insurance and Annuity Company
 c/o Prudential Capital Group
 1114 Avenue of the Americas, 30th Floor
 New York, NY 10036
  
 Attention:
Managing Director

		
	Instructions re: Delivery of Notes	    	 Prudential Capital Group
 1114 Avenue of the Americas, 30th Floor
 New York, NY 10036

 
 Attention: Thais M. Alexander, Esq.

Telephone: 212-626-2067

  
 Schedule A

 Page 6 

									
		
	Signature Block	    	PRUDENTIAL RETIREMENT INSURANCE AND ANNUITY COMPANY
			
		    	By:	 	 Prudential Investment Management, Inc.,
 as investment manager

					
		    		 	By:	 	  
	  	
		    		 		 	Vice President	  	
			
	 Tax Identification Number
	    	06-1050034	  	

  
 Schedule A

 Page 7 

 SCHEDULE B 
 DEFINED TERMS 
 As used herein, the following terms have the respective
meanings set forth below or set forth in the Section hereof following such term: 
 “Acceptance” is defined in
Section 2.2(e). 
 “Acceptance Day” is defined in Section 2.2(e). 

“Acceptance Window” means, with respect to any Quotation, the five-minute period immediately following such Quotation or
such shorter period designated by Prudential during which the Company may elect to accept such Quotation. 
 “Accepted
Note” is defined in Section 2.2(e). 
 “Accounts Receivable” means presently existing and
hereafter arising or acquired accounts receivable, notes, drafts, acceptances, general intangibles, choses in action and other forms of obligations and receivables relating in any way to inventory or arising from the sale of inventory or the
rendering of services or howsoever otherwise arising, and assets relating thereto, including all collateral securing such accounts receivable, all contracts and all Guarantees or other obligations in respect of such accounts receivable, proceeds of
such accounts receivable and all other assets that are customarily transferred or in respect of which security interests are customarily granted in connection with asset securitization transactions involving accounts receivable, and including the
right to payment of any interest or finance charges, sales tax, returned checks or late charges or other obligations with respect thereto and all proceeds of insurance with respect thereto, and all books, customer lists, ledgers, records and files
(whether written or stored electronically) relating to any of the foregoing. 
 “Affiliate” means, at any time,
(a) with respect to any Person, any other Person that at such time directly or indirectly through one or more intermediaries Controls, or is Controlled by, or is under common Control with, such first Person, (b) with respect to the
Company, shall include any Person beneficially owning or holding, directly or indirectly, 10% or more of any class of voting or equity interests of the Company or any Subsidiary or any corporation of which the Company and its Subsidiaries
beneficially own or hold, in the aggregate, directly or indirectly, 10% or more of any class of voting or equity interests and (c) with respect to Prudential, shall include any managed account, investment fund or other vehicle for which
Prudential or any Prudential Affiliate acts as investment advisor or portfolio manager. As used in this definition, “Control” means the possession, directly or indirectly, of the power to direct or cause the direction of the
management and policies of a Person, whether through the ownership of voting securities, by contract or otherwise. “Controlling” and “Controlled” have meanings correlative thereto. Unless the context otherwise
clearly requires, any reference to an “Affiliate” is a reference to an Affiliate of the Company. 

“Anti-Terrorism Order” means Executive Order No. 13,224 of September 23, 2001, Blocking Property and
Prohibiting Transactions with Persons Who Commit, Threaten to Commit or Support Terrorism, 66 U.S. Fed. Reg. 49079 (2001), as amended. 

  
 B-1

 “Authorized Officer” means (i) in the case of the Company, its chief
executive officer, its chief financial officer, its treasurer, any other Person authorized by the Company to act on behalf of the Company and designated as an “Authorized Officer” of the Company in the Information Schedule attached hereto
or any other Person authorized by the Company to act on behalf of the Company and designated as an “Authorized Officer” of the Company for the purpose of this Agreement in an Officer’s Certificate executed by the Company’s chief
executive officer or chief financial officer and delivered to Prudential, and (ii) in the case of Prudential, any officer of Prudential designated as its “Authorized Officer” in the Information Schedule or any officer of Prudential
designated as its “Authorized Officer” for the purpose of this Agreement in a certificate executed by one of its Authorized Officers or a lawyer in its law department. Any action taken under this Agreement on behalf of the Company by any
individual who on or after the date of this Agreement shall have been an Authorized Officer of the Company and whom Prudential in good faith believes to be an Authorized Officer of the Company at the time of such action shall be binding on the
Company even though such individual shall have ceased to be an Authorized Officer of the Company, and any action taken under this Agreement on behalf of Prudential by any individual who on or after the date of this Agreement shall have been an
Authorized Officer of Prudential and whom the Company in good faith believes to be an Authorized Officer of Prudential at the time of such action shall be binding on Prudential even though such individual shall have ceased to be an Authorized
Officer of Prudential. 
 “Available Facility Amount” is defined in Section 2.2(a). 

“Business Day” means any day other than a Saturday, a Sunday or a day on which commercial banks in New York are required
or authorized to be closed. 
 “Cancellation Date” is defined in Section 2.2(g)(ii). 

“Cancellation Fee” is defined in Section 2.2(g)(ii). 

“Capital Lease Obligations” of any Person means the obligations of such Person to pay rent or other amounts under any
lease of (or other arrangement conveying the right to use) real or personal property, or a combination thereof, which obligations are required to be classified and accounted for as capital leases on a balance sheet of such Person under GAAP, and the
amount of such obligations shall be the capitalized amount thereof determined in accordance with GAAP. 
 “Capital
Stock” of any Person means any capital stock or other Equity Interests of such Person, regardless of class or designation, and all warrants, purchase rights, conversion or exchange rights, voting rights, calls or claims of any character
with respect thereto. 
 “Change in Control” means (a) the acquisition of ownership, directly or
indirectly, beneficially or of record, by any Person or group (within the meaning of the Exchange Act and the rules of the Securities and Exchange Commission thereunder as in effect on the date hereof), of Equity Interests representing more than 51%
of the aggregate ordinary voting power represented by the issued and outstanding Equity Interests of the Company, (b) individuals who on the relevant Closing Day constituted the board of directors of the Company (together with any new directors
whose election by such board of directors or whose nomination for election by the 

  
 B-2

 
shareholders of the Company was approved by a majority of the directors of the Company then still in office who were either directors on the relevant Closing Day or whose election or nomination
for election was previously so approved) cease for any reason to constitute a majority of the board of directors then in office, or (c) any event constituting a “Change in Control”, “Change of Control” or any other term used
to describe a change in control, in each case as defined in any Major Credit Facility. 
 “Closing” is defined
in Section 3.1. 
 “Closing Day” means, with respect to the Series A Notes, the Series A Closing Day and,
with respect to any Accepted Note, the Business Day specified for the closing of the purchase and sale of such Accepted Note in the Confirmation of Acceptance for such Accepted Note, provided that (i) if the Company and the Purchaser which is
obligated to purchase such Accepted Note agree on an earlier Business Day for such closing, the “Closing Day” for such Accepted Note shall be such earlier Business Day, and (ii) if the closing of the purchase and sale of such
Accepted Note is rescheduled pursuant to Section 3.3, the Closing Day for such Accepted Note, for all purposes of this Agreement except references to “original Closing Day” in Section 2.2(g)(i), shall mean the Rescheduled Closing
Day with respect to such Accepted Note. 
 “Code” means the Internal Revenue Code of 1986, as amended from time
to time, and the rules and regulations promulgated thereunder from time to time. 
 “Company” is defined in the
introductory paragraph hereto. 
 “Confidential Information” is defined in Section 20. 

“Confirmation of Acceptance” is defined in Section 2.2(e). 

“Consolidated Adjusted Net Income” means, for any period, Consolidated Net Income for such period before any cumulative
effect of any accounting changes applicable to the Company and its Subsidiaries, plus, without duplication, any extraordinary or special expenses or losses (including, whether or not otherwise includable as a separate item in the statement of
Consolidated Net Income for such period, losses on sales of assets outside the ordinary course of business) and minus, to the extent included in the statement of Consolidated Net Income for such period, the sum of any extraordinary or special income
or gains (including, whether or not otherwise includable as a separate item in the statement of Consolidated Net Income for such period, gains on the sale of assets outside the ordinary course of business) all on a consolidated basis. 

“Consolidated EBITDA” means, for any period, Consolidated Net Income for such period plus, without duplication and to
the extent reflected as a charge in the statement of such Consolidated Net Income for such period, the sum of (a) income tax expense, (b) interest expense, amortization or write-off of debt discount with respect to Indebtedness (including
the Notes), (c) depreciation and amortization expense, (d) amortization of intangibles (including, but not limited to, goodwill) and organization costs, (e) any extraordinary or special expenses or losses (including, whether or not
otherwise includable as a separate item in the statement of such Consolidated Net Income for such period, losses on sales of assets outside of the ordinary course of business), and (f) any other non-cash charges, and minus, to the extent
included in the 

  
 B-3

 
statement of such Consolidated Net Income for such period, the sum of (i) interest income, (ii) any extraordinary income or gains (including, whether or not otherwise includable as a
separate item in the statement of such Consolidated Net Income for such period, gains on the sales of assets outside of the ordinary course of business) and (iii) any other non-cash income, all as determined on a consolidated basis. For the
purposes of calculating Consolidated EBITDA for any Reference Period pursuant to any determination of the Consolidated Leverage Ratio or Consolidated Interest Coverage Ratio, if during such Reference Period the Company or any Subsidiary shall have
made a Permitted Acquisition or Disposition, Consolidated EBITDA for such Reference Period shall be calculated after giving pro forma effect thereto and any Indebtedness incurred, assumed, repaid or refinanced (by either the Company or any
transferee) originally in connection with any Permitted Acquisition or Disposition as if such Permitted Acquisition or Disposition occurred and such Indebtedness had been incurred, assumed, repaid or refinanced on the first day of such Reference
Period. 
 “Consolidated Interest Coverage Ratio” means for any period, the ratio of (a) Consolidated
EBITDA for such period to (b) Consolidated Interest Expense for such period; provided that interest on an aggregate principal amount of the Louisiana IDB (such interest not to exceed $1,000,000) shall for all purposes of calculating the
Consolidated Interest Coverage Ratio be excluded from Consolidated Interest Expense. 
 “Consolidated Interest
Expense” means, for any period, total interest expense (including that attributable to capitalized lease obligations) of the Company and its Subsidiaries for such period with respect to all outstanding Indebtedness of the Company and its
Subsidiaries (including all commission, discounts and other fees and charges owed with respect to letters of credit and bankers’ acceptance financing and net costs under Swap Agreements in respect of such Indebtedness to the extent such net
costs are allocable to such period in accordance with GAAP). For the purposes of calculating Consolidated Interest Expense for any Reference Period pursuant to any determination of the Consolidated Interest Coverage Ratio, if during such Reference
Period the Company or any Subsidiary shall have made a Permitted Acquisition or Disposition, Consolidated Interest Expense for such Reference Period shall be calculated after giving pro forma effect thereto and any Indebtedness incurred, assumed,
repaid or refinanced (by either the Company, such Subsidiary or any transferee) originally in connection therewith as if such Permitted Acquisition or Disposition occurred and such Indebtedness had been incurred, assumed, repaid or refinanced on the
first day of such Reference Period. 
 “Consolidated Leverage Ratio” means, as at the last day of any period,
the ratio of (a) Consolidated Total Debt on such day to (b) Consolidated EBITDA for such period. 

“Consolidated Net Income” means, for any period, the consolidated net income (or loss) of the Company and its
Subsidiaries, determined on a consolidated basis in accordance with GAAP; provided that there shall be excluded (a) the income (or deficit) of any Person accrued prior to the date it becomes a Subsidiary of the Company or is merged into or
consolidated with the Company or any of its Subsidiaries, (b) the income (or deficit) of any Person (other than a Subsidiary of the Company) in which the Company or any of its Subsidiaries has an ownership interest, except to the extent that
any such income is actually received by the Company or such Subsidiary in the form of dividends or similar distributions and (c) the undistributed earnings of any Subsidiary of the Company to the extent that the declaration or payment of
dividends or 

  
 B-4

 
similar distributions by such Subsidiary is not at the time permitted by the terms of any Contractual Obligation (other than under this Agreement) or any law applicable to such Subsidiary.

 “Consolidated Net Worth” means, at any time, 

 

	 	(a)	Consolidated Total Assets, minus 

  

	 	(b)	the total liabilities of the Company and its Subsidiaries which would be shown as liabilities on a consolidated balance sheet of the Company and its Subsidiaries as of
such time prepared in accordance with GAAP. 

 “Consolidated Total Assets” means, at any time,
the total assets of the Company and its Subsidiaries which would be shown as assets on a consolidated balance sheet of the Company and its Subsidiaries as of such time prepared in accordance with GAAP, after eliminating all amounts properly
attributable to minority interests, if any, in the stock and surplus of Subsidiaries. 
 “Consolidated Total
Debt” means, at any date, the aggregate principal amount of all Indebtedness of the Company and its Subsidiaries at such date that would appear as debt on a balance sheet of the Company and its Subsidiaries (excluding items appearing only
in the footnotes therein), determined on a consolidated basis in accordance with GAAP. 
 “Contractual
Obligation” means, as to any Person, any provision of any security issued by such Person or of any agreement, instrument or other undertaking to which such Person is a party or by which it or any of its property is bound. 

“Debt Prepayment Application” means, with respect to any Disposition of property, the application by the Company of cash
in an amount equal to the Net Proceeds with respect to such Disposition to pay Senior Indebtedness (other than Indebtedness owing to the Company, any of the Company’s Subsidiaries or any Affiliate of the Company), provided that in the course of
making such application the Company shall offer to prepay each outstanding Note, in accordance with Section 8.8, in a principal amount which equals the Ratable Portion of such Note in respect of such Disposition. If any holder of a Note rejects
such offer of prepayment, then, for purposes of the preceding sentence only, the Company and the applicable Subsidiary nevertheless will be deemed to have paid Senior Indebtedness in an amount equal to the Ratable Portion of the holder of such Note
in respect of such Disposition. 
 “Debt Prepayment Transfer” is defined in Section 8.8. 

“Default” means an event or condition the occurrence or existence of which would, with the lapse of time or the giving
of notice or both, become an Event of Default. 
 “Default Rate” with respect to any Note, has the meaning
given in such Note. 
 “Delayed Delivery Fee” is defined in Section 2.2(g)(i). 

“Disclosure Documents” is defined in Section 5.3. 

  
 B-5

 “Disposition” means, with respect to any property, any sale, lease, sale
and leaseback, assignment, conveyance, transfer or other disposition thereof. The terms “Dispose” and “Disposed of” shall have correlative meanings. 

“Disposition Prepayment Date” is defined in Section 8.8. 

“Disposition Prepayment Offer” is defined in Section 8.8. 

“Dollars” or “$” means lawful money of the United States of America. 

“EDGAR” is defined in Section 5.3. 
 “Environmental Laws” means all laws, rules, regulations, codes, ordinances, orders, decrees, judgments, injunctions, notices or binding agreements issued, promulgated or entered into by
any Governmental Authority, relating in any way to the environment, preservation or reclamation of natural resources, the management, Release or threatened Release of any Hazardous Material or to health and safety matters. 

“Environmental Lien” means a Lien in favor of any Governmental Authority for (a) any liability under Environmental
Laws, or (b) damages arising from, or costs incurred by such Governmental Authority in response to, a Release or threatened Release of Hazardous Materials into the environment. 

“Environmental Permits” means all permits, licenses, certificates, registrations and approvals of Governmental
Authorities required by Environmental Laws and necessary for the business of the Company or a Subsidiary of the Company. 

“Equity Interests” means shares of capital stock, partnership interests, membership interests in a limited liability
company, beneficial interests in a trust or other equity ownership interests in a Person, and any warrants, options or other rights entitling the holder thereof to purchase or acquire any such equity interest. 

“ERISA” means the Employee Retirement Income Security Act of 1974, as amended from time to time, and the rules and
regulations promulgated thereunder from time to time in effect. 
 “ERISA Affiliate” means any trade or
business (whether or not incorporated) that is treated as a single employer together with the Company under section 414 of the Code. 
 “ERISA Event” means (a) any “reportable event”, as defined in Section 4043 of ERISA or the regulations issued thereunder with respect to a Plan (other than an event
for which the 30-day notice period is waived), (b) a failure by any Plan to meet the minimum funding standard under the Pension Funding Rules applicable to such Plan, in each instance, whether or not waived, (c) the filing pursuant to the
Pension Funding Rules of an application for a waiver of the minimum funding standard or extension of any amortization period with respect to any Plan, (d) the incurrence by the Company or any of its ERISA Affiliates of any liability under Title
IV of ERISA with respect to the termination of any Plan, (e) a notice of intent to terminate any Plan shall have been or is reasonably expected to be filed with the PBGC or the PBGC shall have

  
 B-6

 
instituted proceedings under ERISA section 4042 to terminate or appoint a trustee to administer any Plan or the PBGC shall have notified the Company or any ERISA Affiliate that a Plan may become
a subject of any such proceedings, (f) the Company or any of its ERISA Affiliates withdraws or partially withdraws from any Multiemployer Plan, (g) the receipt by the Company or any ERISA Affiliate of any notice, or the receipt by any
Multiemployer Plan from the Company or any ERISA Affiliate of any notice, concerning the imposition of Withdrawal Liability or a determination that a Multiemployer Plan is, or is expected to be, insolvent or in reorganization, within the meaning of
Title IV of ERISA. 
 “Event of Default” is defined in Section 11. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended. 

“Facility” is defined in Section 2.2(a). 
 “Fair Market Value” means, at any time and with respect to any property, the sale value of such property that would be realized in an arm’s-length sale at such time between an
informed and willing buyer and an informed and willing seller (neither being under a compulsion to buy or sell), as reasonably determined in the good faith opinion of the Company’s board of directors or one or more officers to whom authority to
enter into such transaction has been delegated by the board of directors. 
 “Financial Covenant” means any
covenant (whether set forth as a covenant, undertaking, event of default, restriction or other such provision) that requires the Company or the Company and its Subsidiaries (the “Group”) to achieve or maintain a stated level of
financial condition or performance and includes, without limitation, any requirement that any member of the Group: 
  

	 	(a)	maintain a specified level of net worth, shareholders’ equity, total assets, cash flow or net income; 

 

	 	(b)	maintain any relationship of any component of its capital structure to any other component thereof (including without limitation, the relationship of indebtedness,
senior indebtedness or subordinated indebtedness to total capitalization or to net worth); or 

  

	 	(c)	maintain any measure of its ability to service its indebtedness (including, without limitation, exceeding any specified ratio of revenues, cash flow or net income to
indebtedness, interest expense, rental expense, capital expenditures and/or scheduled payments of indebtedness). 

 Any covenant
similar to the covenants set forth in Section 10.12 shall be deemed to be a Financial Covenant. 
 “GAAP”
means those generally accepted accounting principles as in effect from time to time in the United States of America. 

“Governmental Authority” means 

  
 B-7

  

	 	(a)	the government of 

  

	 	(i)	the United States of America or any State or other political subdivision of either thereof, or 

 

	 	(ii)	any other jurisdiction in which the Company or any Subsidiary conducts all or any part of its business, or which asserts jurisdiction over any properties of the Company
or any Subsidiary, or 

  

	 	(b)	any entity exercising executive, legislative, judicial, regulatory or administrative functions of, or pertaining to, any such government. 

“Guaranty” means, with respect to any Person, any obligation (except the endorsement in the ordinary course of business
of negotiable instruments for deposit or collection) of such Person guaranteeing or in effect guaranteeing any indebtedness, dividend or other obligation of any other Person in any manner, whether directly or indirectly, including (without
limitation) obligations incurred through an agreement, contingent or otherwise, by such Person: 
  

	 	(a)	to purchase such indebtedness or obligation or any property constituting security therefor; 

 

	 	(b)	to advance or supply funds (i) for the purchase or payment of such indebtedness or obligation, or (ii) to maintain any working capital or other balance sheet
condition or any income statement condition of any other Person or otherwise to advance or make available funds for the purchase or payment of such indebtedness or obligation; 

 

	 	(c)	to lease properties or to purchase properties or services primarily for the purpose of assuring the owner of such indebtedness or obligation of the ability of any other
Person to make payment of the indebtedness or obligation; or 

  

	 	(d)	otherwise to assure the owner of such indebtedness or obligation against loss in respect thereof. 

In any computation of the indebtedness or other liabilities of the obligor under any Guaranty, the indebtedness or other obligations that are the subject
of such Guaranty shall be assumed to be direct obligations of such obligor. 
 “Hazardous Materials” means all
explosive or radioactive substances or wastes and all hazardous or toxic substances, wastes or other pollutants, including petroleum or petroleum distillates, asbestos or asbestos containing materials, polychlorinated biphenyls, radon gas,
infectious or medical wastes and all other substances or wastes of any nature, in each case to the extent regulated pursuant to any Environmental Law. 
 “Hedge Treasury Note(s)” means, with respect to any Accepted Note, the United States Treasury Note or Notes whose duration (as determined by Prudential) most closely matches the duration
of such Accepted Note. 

  
 B-8

 “holder” means, with respect to any Note the Person in whose name such Note
is registered in the register maintained by the Company pursuant to Section 13.1. 
 “Hostile Tender
Offer” shall mean, with respect to the use of proceeds of any Note, any offer to purchase, or any purchase of, shares of capital stock of any corporation or equity interests in any other entity, or securities convertible into or
representing the beneficial ownership of, or rights to acquire, any such shares or equity interests, if such shares, equity interests, securities or rights are of a class which is publicly traded on any securities exchange or in any over-the-counter
market, other than purchases of such shares, equity interests, securities or rights representing less than 5% of the equity interests or beneficial ownership of such corporation or other entity for portfolio investment purposes, and such offer or
purchase has not been duly approved by the board of directors of such corporation or the equivalent governing body of such other entity prior to the date on which the Company makes the Request for Purchase of such Note. 

“Immaterial Subsidiary” means, at any time, any Subsidiary of the Company which (a) is not a Material Subsidiary,
(b) is not a “Material Subsidiary” as defined in any Major Credit Facility and (c) is excluded from the provisions of clauses (h), (i) and (j) of Article VII of the Term Facility, and each other similar event of default
relating to insolvency, bankruptcy, receivership, assignment for the benefit of creditors, the inability or failure generally to pay debts as they become due, and other similar events contained in the Term Facility and each other Major Credit
Facility. 
 “Indebtedness” of any Person means, without duplication, (a) all obligations of such Person
for borrowed money or with respect to deposits or advances of any kind, (b) all obligations of such Person evidenced by bonds, debentures, notes or similar instruments, (c) all obligations of such Person upon which interest charges are
customarily paid, (d) all obligations of such Person under conditional sale or other title retention agreements relating to property acquired by such Person, (e) all obligations of such Person in respect of the deferred purchase price of
property or services (excluding accounts payable incurred in the ordinary course of business), (f) all Indebtedness of others secured by (or for which the holder of such Indebtedness has an existing right, contingent or otherwise, to be secured
by) any Lien on property owned or acquired by such Person, whether or not the Indebtedness secured thereby has been assumed, (g) all Guarantees by such Person of Indebtedness of others, (h) all Capital Lease Obligations of such Person,
(i) all obligations, contingent or otherwise, of such Person as an account party in respect of letters of credit and letters of guaranty and (j) all obligations, contingent or otherwise, of such Person in respect of bankers’
acceptances. The Indebtedness of any Person shall include the Indebtedness of any other entity (including any partnership in which such Person is a general partner) to the extent such Person is liable therefor as a result of such Person’s
ownership interest in or other relationship with such entity, except to the extent the terms of such Indebtedness provide that such Person is not liable therefor. 
 “Institutional Investor” means (a) any Purchaser of a Note, (b) any holder of a Note holding (together with one or more of its affiliates) more than 5% of the aggregate
principal amount of the Notes then outstanding, (c) any bank, trust company, savings and loan association or other financial institution, any pension plan, any investment company, any insurance

  
 B-9

 
company, any broker or dealer, or any other similar financial institution or entity, regardless of legal form, and (d) any Related Fund of any holder of any Note. 

“Issuance Period” is defined in Section 2.2(b). 

“Lien” means, with respect to any asset, (a) any mortgage, deed of trust, lien, pledge, hypothecation, encumbrance,
charge or security interest in, on or of such asset, (b) the interest of a vendor or a lessor under any conditional sale agreement, capital lease or title retention agreement (or any financing lease having substantially the same economic effect
as any of the foregoing) relating to such asset and (c) in the case of securities, any purchase option, call or similar right of a third party with respect to such securities. 

“Louisiana IDB” means the Industrial Development Board of the Parish of Calcasieu, Inc. (Louisiana) 6% Industrial
Development Revenue Bonds (Olin Corporation Project) due March 1, 2008. 
 “Major Credit Facility” means
(a) the Revolving Facility, (b) the Term Facility and (c) each successor loan or credit agreement constituting the Company’s primary bank credit facility, with the same or different group of lenders and agents, as amended,
amended and restated, supplemented or otherwise modified, from time to time. 
 “Major Credit Facility Lenders”
means each lender party from to time to any Major Credit Facility. 
 “Make-Whole Amount” is defined in
Section 8.6. 
 “Material” means material in relation to the business, operations, affairs, financial
condition, assets, properties or prospects of the Company and its Subsidiaries taken as a whole. 
 “Material Adverse
Effect” means a material adverse effect on (a) the business, operations, affairs, financial condition, assets or properties of the Company and its Subsidiaries taken as a whole, or (b) the ability of the Company to perform its
obligations under this Agreement and the Notes, or (c) the validity or enforceability of this Agreement or the Notes or the rights or remedies of the holders of Notes. 
 “Material Subsidiary” means, at any time, any Subsidiary of the Company which, together with all other Subsidiaries of such Subsidiary, accounts for more than (i) 5% of the
Consolidated Total Assets of the Company and its Subsidiaries or (ii) 5% of consolidated gross revenue of the Company and its Subsidiaries. 
 “Most Favored Provision” is defined in Section 9.7. 

“Multiemployer Plan” means any Plan that is a “multiemployer plan” (as such term is defined in section
4001(a)(3) of ERISA). 
 “NAIC” means the National Association of Insurance Commissioners or any successor
thereto. 

  
 B-10

 “Net Proceeds” means the gross proceeds received by or on behalf of the
Company or any of its Subsidiaries in respect of any Disposition, less the sum of, without duplication, (i) all taxes (other than income taxes) payable by the Company or any of its Subsidiaries in connection with such Disposition and the
Company’s good faith estimate of income taxes payable and any Federal, state, provincial, foreign and local taxes required to be accrued as a liability under GAAP in connection therewith, (ii) the amount of any reserves established in
accordance with GAAP against any liabilities associated with the asset Disposed of; provided that any subsequent reduction in such reserves (other than in connection with the payment of any such liability) shall be deemed to be Net Proceeds of a
Disposition occurring on the date of such reduction, (iii) the amount of any Indebtedness secured by the asset Disposed of and required to be, and in fact, repaid with the proceeds of such Disposition, (iv) all distributions and other
payments required to be made to minority interest holders in Subsidiaries as a result of such Disposition, (v) reasonable and customary fees, commissions and expenses and other costs paid by the Company or any of its Subsidiaries in connection
with such Disposition, and (vi) any portion of the purchase price from a Disposition placed in escrow, whether as a reserve for adjustment of the purchase price, for satisfaction of indemnities in respect of such Disposition or otherwise in
connection with that Disposition; provided, however, that upon the termination of that escrow, Net Proceeds will be increased by any portion of funds in the escrow that are released to the Company or any Subsidiary. 

“Notes” is defined in Section 1.3. 
 “Officer’s Certificate” means a certificate of a Senior Financial Officer or of any other officer of the Company whose responsibilities extend to the subject matter of such
certificate. 
 “Olin” means the Olin Corporation, a Virginia corporation. 

“PBGC” means the Pension Benefit Guaranty Corporation referred to and defined in ERISA or any successor thereto.

 “Pension Funding Rules” means the rules of the Code and ERISA regarding minimum required contributions
(including any installment payment thereof) to Plans subject to Title IV of ERISA and set forth in, with respect to plan years ending prior to the effective date as to such Plan of the Pension Protection Act of 2006, Section 412 of the Code and
Section 302 of ERISA each as in effect prior to the Pension Protection Act of 2006 and, thereafter, Sections 412 and 430 of the Code and Sections 302 and 303 of ERISA. 
 “Permitted Accounts Receivable Securitization” means one or more receivables financing programs providing for (i) the sale or contribution of Accounts Receivable by the Company or
its Subsidiaries to a Receivables Subsidiary in a transaction or series of transactions purporting to be sales (and treated as sales for GAAP purposes), and (ii) the sale, transfer, conveyance, lien or pledge of, or granting a security interest
in, such Accounts Receivables by such Receivables Subsidiary to any other Person, in each case, without recourse for credit defaults to the Company and its Subsidiaries (other than the Receivables Subsidiaries); provided that the aggregate principal
amount of such financings shall not at any time exceed $100,000,000. 

  
 B-11

 “Permitted Acquisition” means any acquisition by the Company or any of its
Subsidiaries of all of the Capital Stock of, or all or a substantial part of the assets of, or of a business unit (including a complete product line) or division of, any Person; provided that (a) the Company shall be in compliance, on a pro
forma basis after giving effect to such acquisition, with the covenants contained in Section 10.12, in each case recomputed as at the last day of the most recently ended Reference Period of the Company for which the relevant information is
available as if such acquisition had occurred on the first day of such Reference Period for testing such compliance, (b) no Default or Event of Default shall have occurred and be continuing, or would occur after giving effect to such
acquisition, (c) substantially all of such property acquired shall constitute assets of the type historically used in the business conducted by the Company on the date hereof or reasonable extensions thereof, and (d) any such acquisition
for consideration in excess of $10,000,000 shall have been approved by the board of directors or comparable governing body of the relevant Person. 
 “Permitted Encumbrances” means: 
 (a) Liens
imposed by law for taxes that are not yet due or are being contested in compliance with Section 9.4; 
 (b)
carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s and other like Liens imposed by law, arising in the ordinary course of business and securing obligations that are not overdue by more than 30 days or are
being contested in good faith and in appropriate proceedings; 
 (c) pledges and deposits made in the ordinary
course of business in compliance with workers’ compensation, unemployment insurance and other social security laws or regulations; 
 (d) deposits to secure the performance of bids, trade contracts, leases, statutory obligations, surety and appeal bonds, performance bonds and other obligations of a like nature, and to secure letters of
credit in respect thereof, in each case in the ordinary course of business; 
 (e) judgment liens in respect of
judgments that do not constitute an Event of Default under clause (j) of Section 11; 
 (f) easements,
zoning restrictions, rights-of-way and similar encumbrances on real property imposed by law or arising in the ordinary course of business that do not secure any monetary obligations and do not materially detract from the value of the affected
property or interfere with the ordinary conduct of business of the Company or any Subsidiary; and 
 (g) leases,
licenses and similar rights and obligations granted or incurred in connection with the assets of the Company or any of its Subsidiaries in the ordinary course of business; 
 provided that the term “Permitted Encumbrances” shall not include any Lien securing Indebtedness. 

  
 B-12

 “Person” means an individual, partnership, corporation, limited liability
company, association, trust, unincorporated organization, business entity or Governmental Authority. 
 “Plan”
means an “employee benefit plan” (as defined in section 3(3) of ERISA) subject to Title I of ERISA that is or, within the preceding five years, has been established or maintained, or to which contributions are or, within the preceding five
years, have been made or required to be made, by the Company or any ERISA Affiliate or with respect to which the Company or any ERISA Affiliate may have any liability. 
 “Priority Debt” means (without duplication), as of the date of any determination thereof, (i) all unsecured Indebtedness of the Company’s Subsidiaries (including all Guaranties
of the Company’s Subsidiaries of Indebtedness of the Company) other than: 
 (a) Indebtedness existing on
the date hereof and set forth in Schedule 5.15 and extensions, renewals and replacements of any such Indebtedness that do not increase the outstanding principal amount thereof; 

(b) Indebtedness to the Company or any other Subsidiary; 

(c) Guaranties of Indebtedness of the Company or any other Subsidiary; 

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

(e) Indebtedness as an account party in respect of trade letters of credit; and 

(f) Indebtedness of Receivables Subsidiaries arising pursuant to Permitted Accounts Receivable Securitizations in an
aggregate principal amount not to exceed $100,000,000. 
 and (ii) all Indebtedness of the Company and its Subsidiaries secured by Liens
other than Indebtedness secured by Liens permitted by subsections (a) through (e), inclusive, of Section 10.5. 

“property” or “properties” means, unless otherwise specifically limited, real or personal property of
any kind, tangible or intangible, choate or inchoate. 
 “Property Reinvestment Application” means, with
respect to any Disposition of property, the application, within 365 days of such Disposition, of an amount equal to the Net Proceeds with respect to such Disposition to the acquisition by the Company or any Subsidiary of property of a similar nature
(excluding, for the avoidance of doubt, cash and cash equivalents), and of at least equivalent fair market value to the property so Disposed of, to be used in the ordinary course of business of such Person. 

  
 B-13

 “Proposed Prepayment Date” is defined in Section 8.7. 

“Prudential” is defined in the addressee line to this Agreement. 

“Prudential Affiliate” means any Affiliate of Prudential. 

“PTE” is defined in Section 6.2. 
 “Purchaser” is defined in the addressee line to this Agreement. 

“Qualified Institutional Buyer” means any Person who is a “qualified institutional buyer” within the meaning
of such term as set forth in Rule 144A(a)(1) under the Securities Act. 
 “Quotation” shall have the meaning
provided in paragraph 2.2(d). 
 “Ratable Portion” means, in respect of any holder of any Note and any
Disposition contemplated by the definition of Debt Prepayment Application, an amount equal to the product of: 

(a) the Net Proceeds being offered to be applied to the payment of Senior Indebtedness, multiplied by 

(b) a fraction, the numerator of which is the outstanding principal amount of such Note, and the denominator of which is
the aggregate outstanding principal amount of all Senior Indebtedness at the time of such Disposition determined on a consolidated basis in accordance with GAAP. 
 “Receivables Subsidiary” means any special purpose, bankruptcy remote wholly-owned subsidiary of the Company formed for the sole and exclusive purpose of engaging in activities in
connection with the financing of Accounts Receivable in connection with and pursuant to a Permitted Accounts Receivable Securitization. 
 “Reference Period” means any period of four consecutive fiscal quarters. 
 “Related Fund” means, with respect to any holder of any Note, any fund or entity that (a) invests in securities or bank loans, and (b) is advised or managed by such holder, the
same investment advisor as such holder or by an affiliate of such holder or such investment advisor. 

“Release” means a release, spill, emission, leaking, pumping, pouring, emptying, dumping, injection, deposit, disposal,
discharge, dispersal, escape, leaching, or migration into the indoor or outdoor environment or into or out of any property of Company or its Subsidiaries, or at any other location to which Company or any Subsidiary has transported or arranged for
the transportation of any Hazardous Materials, including the movement of Hazardous Materials through or in the air, soil, surface water, groundwater or property of Company or its Subsidiaries or at any other location, including any location to which
Company or any Subsidiary has transported or arranged for the transportation of any Hazardous Materials. 
 “Request for
Purchase” is defined in Section 2.2(c). 

  
 B-14

 “Required Holders” means, at any time, the holders of more than 50% in
principal amount of the Notes at the time outstanding (exclusive of Notes then owned by the Company or any of its Affiliates). 

“Rescheduled Closing Day” is defined in Section 3.3. 

“Responsible Officer” means any Senior Financial Officer and any other officer of the Company with responsibility for
the administration of the relevant portion of this Agreement. 
 “Restricted Payment” means any dividend or
other distribution (whether in cash, securities or other property) with respect to any Equity Interests of the Company or any Subsidiary, or any payment (whether in cash, securities or other property), including any sinking fund or similar deposit,
on account of the purchase, redemption, retirement, acquisition, cancellation or termination of any such Equity Interests of the Company or any option, warrant or other right to acquire any such Equity Interests of the Company. 

“Revolving Facility” means the Revolving Credit Agreement, dated as of June 15, 2006, among the Company, the
lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent, as such agreement may be amended, amended and restated, supplemented or otherwise modified from time to time. 

“Sale-Leaseback” is defined in Section 10.10. 

“Securities Act” means the Securities Act of 1933, as amended from time to time, and the rules and regulations
promulgated thereunder from time to time in effect. 
 “Senior Financial Officer” means the chief financial
officer, principal accounting officer, treasurer or comptroller of the Company. 
 “Senior Indebtedness” means
all Indebtedness evidenced by the Notes and all other Indebtedness of the Company or its Subsidiaries for money borrowed ranking pari passu or senior in right of payment with the Indebtedness evidenced by the Notes. 

“Series” is defined in Section 1.3. 
 “Series A Closing” is defined in Section 3.1. 

“Series A Closing Day” is defined in Section 3.1. 

“Series A Note” is defined in Section 1.1. 

“Series A Purchaser” is defined in the addressee line to this Agreement. 

“Shelf Closing” means, with respect to any Series of Shelf Notes, the closing of the sale and purchase of such Series of
Shelf Notes. 
 “Shelf Notes” is defined in Section 1.2. 

  
 B-15

 “Spin Off” means the transfer of substantially all of the specialty
chemical businesses of Olin and its Subsidiaries to the Company and the “Distribution”, substantially in the manner described in the Form 10-K filed with the Securities and Exchange Commission on January 21, 1999. 

“Subsidiary” means, with respect to any Person (the “parent”) at any date, any corporation, limited liability
company, partnership, association or other entity the accounts of which would be consolidated with those of the parent in the parent’s consolidated financial statements if such financial statements were prepared in accordance with GAAP as of
such date, as well as any other corporation, limited liability company, partnership, association or other entity of which securities or other ownership interests representing more than 50% of the equity or more than 50% of the ordinary voting power
or, in the case of a partnership, more than 50% of the general partnership interests are, as of such date, owned, controlled or held by the parent or one or more subsidiaries of the parent or by the parent and one or more subsidiaries of the parent.
Unless the context otherwise clearly requires, any reference to a “Subsidiary” is a reference to a Subsidiary of the Company. 
 “SVO” means the Securities Valuation Office of the NAIC or any successor to such Office. 
 “Swap Agreement” means any agreement with respect to any swap, forward, future or derivative transaction or option or similar agreement involving, or settled by reference to, one or more
rates, currencies, commodities, equity or debt instruments or securities, or economic, financial or pricing indices or measures of economic, financial or pricing risk or value or any similar transaction or any combination of these transactions;
provided that no stock option, benefit, incentive, phantom stock or similar plan providing for payments only on account of services provided by current or former directors, officers, employees or consultants of the Company or the Subsidiaries or, in
connection with the Spin Off, employees or former employees of Olin shall be a Swap Agreement. 
 “Term
Facility” means the Credit Agreement, dated as of February 13, 2009, among the Company, the lenders party thereto and Bank of America, N.A., as administrative agent, as such agreement may be amended, amended and restated, supplemented
or otherwise modified from time to time. 
 “Threshold ERISA Amount” means the greater of (a) $10,000,000
and (b) the lowest aggregate permitted amount specified in any event of default relating to ERISA or other similar laws or regulations concerning benefit plans contained in any Major Credit Facility, provided that the Threshold ERISA Amount
shall not exceed $25,000,000. 
 “Threshold Indebtedness” means Indebtedness (other than the Notes), and
obligations in respect of one ore more Swap Agreements, of any one or more of the Company and its Subsidiaries in excess of the Threshold Indebtedness Amount. For purposes of determining Threshold Indebtedness, the “principal amount” of
the obligations of the Company or any Subsidiary in respect of any Swap Agreement at any time shall be the maximum aggregate amount (giving effect to any netting agreements) that the Company or such Subsidiary would be required to pay if such Swap
Agreement were terminated at such time. 

  
 B-16

 “Threshold Indebtedness Amount” means the greater of (a) $10,000,000
and (b) the lowest aggregate permitted amount specified in any event of default relating to Indebtedness contained in any Major Credit Facility, provided that the Threshold Indebtedness Amount shall not exceed $25,000,000. 

“Threshold Judgment Amount” means the greater of (a) $10,000,000 and (b) the lowest aggregate permitted amount
specified in any event of default relating to judgments for the payment of money contained in any Major Credit Facility (including, without limitation, clause (k) of Article VII of the Term Facility), provided that the Threshold Judgment Amount
shall not exceed $25,000,000. 
 “USA Patriot Act” means United States Public Law 107-56, Uniting and
Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA PATRIOT ACT) Act of 2001, as amended from time to time, and the rules and regulations promulgated thereunder from time to time in effect.

 “Wholly-Owned Subsidiary” means, at any time, any Subsidiary all of the equity interests (except
directors’ qualifying shares) and voting interests of which are owned by any one or more of the Company and the Company’s other Wholly-Owned Subsidiaries at such time. 

  
 B-17

 EXHIBIT 1-A 
 [Form of Series A Note] 
 THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 OR
UNDER THE SECURITIES LAWS OF ANY STATE. NO TRANSFER, SALE OR OTHER DISPOSITION OF THIS NOTE MAY BE MADE UNLESS A REGISTRATION STATEMENT WITH RESPECT TO THIS NOTE HAS BECOME EFFECTIVE UNDER SUCH ACT, AND SUCH REGISTRATION OR QUALIFICATION AS MAY BE
NECESSARY UNDER THE SECURITIES LAWS OF ANY STATE HAS BECOME EFFECTIVE, OR AN EXEMPTION FROM SUCH REGISTRATIONS AND/OR QUALIFICATIONS IS AVAILABLE UNDER SUCH ACT AND SUCH LAWS. EACH TRANSFEREE OF THIS NOTE, BY ACCEPTANCE OF THIS NOTE REGISTERED IN
ITS NAME (OR THE NAME OF ITS NOMINEE), WILL BE DEEMED TO HAVE MADE CERTAIN REPRESENTATIONS SET FORTH IN THE AGREEMENT PURSUANT TO WHICH THIS NOTE WAS ISSUED. 
 Arch Chemicals, Inc. 
 6.70% Series A Senior Note due August 28, 2016

  

			
	 No. [        ]
	 	[Date]
		
	 $[        ]
	 	PPN: 03937R A#9

 FOR VALUE
RECEIVED, the undersigned, Arch Chemicals, Inc. (herein called the “Company”), a corporation organized and existing under the laws of the Commonwealth of Virginia, hereby promises to pay to
[                ], or registered assigns, the principal sum of
[                        ] DOLLARS ($[        ]) (or so much thereof as shall not have
been prepaid) on August 28, 2016, with interest (computed on the basis of a 360-day year of twelve 30-day months) (a) on the unpaid balance thereof at the rate of 6.70% per annum from the date hereof, payable semiannually, on the 28th
day of October and April in each year, commencing with the October or April next succeeding the date hereof, until the principal hereof shall have become due and payable, and on the maturity date hereof, and (b) to the extent permitted by law,
on any overdue payment of interest and, during the continuance of an Event of Default, on such unpaid balance and on any overdue payment of any Make-Whole Amount, at a rate per annum (the “Default Rate”) from time to time equal to
the greater of (i) 8.70% and (ii) 2.00% over the rate of interest publicly announced by JPMorgan Chase Bank, N.A. from time to time in New York, New York as its “base” or “prime” rate, payable semiannually as aforesaid
(or, at the option of the registered holder hereof, on demand). 
 Payments of principal of, interest on and any Make-Whole
Amount with respect to this Note are to be made in lawful money of the United States of America at JPMorgan Chase Bank, N.A. or at such other place as the Company shall have designated by written notice to the holder of this Note as provided in the
Note Purchase Agreement referred to below. 
 This Note is one of a series of Senior Notes (herein called the
“Notes”) issued pursuant to the Note Purchase and Private Shelf Agreement, dated as of August 28, 2009 (as from time to time amended, the “Note Purchase Agreement”), between the Company, Prudential Investment
Management, Inc. and each Prudential Affiliate which becomes a party thereto and is entitled to 

  
 Exhibit 1-A

 Page 1 

 
the benefits thereof. Each holder of this Note will be deemed, by its acceptance hereof, to have (i) agreed to the confidentiality provisions set forth in Section 20 of the Note
Purchase Agreement and (ii) made the representations set forth in Section 6 of the Note Purchase Agreement. Unless otherwise indicated, capitalized terms used in this Note shall have the respective meanings ascribed to such terms in the
Note Purchase Agreement. 
 This Note is a registered Note and, as provided in the Note Purchase Agreement, upon surrender of
this Note for registration of transfer, duly endorsed, or accompanied by a written instrument of transfer duly executed by the registered holder hereof or such holder’s attorney duly authorized in writing, a new Note for a like principal amount
will be issued to, and registered in the name of, the transferee. Prior to due presentment for registration of transfer, the Company may treat the person in whose name this Note is registered as the owner hereof for the purpose of receiving payment
and for all other purposes, and the Company will not be affected by any notice to the contrary. 
 This Note is subject to
optional prepayment, in whole or from time to time in part, at the times and on the terms specified in the Note Purchase Agreement, but not otherwise. 
 If an Event of Default occurs and is continuing, the principal of this Note may be declared or otherwise become due and payable in the manner, at the price (including any applicable Make-Whole Amount) and
with the effect provided in the Note Purchase Agreement. 
 This Note shall be construed and enforced in accordance with, and
the rights of the Company and the holder of this Note shall be governed by, the law of the State of New York excluding choice-of-law principles of the law of such State that would permit the application of the laws of a jurisdiction other than such
State. 
  

			
	ARCH CHEMICALS, INC.
		
	By	 	  

	[Name]	 	
	[Title]	 	

  
 Exhibit 1-A

 Page 2 

 EXHIBIT 1-B 
 [FORM OF SHELF NOTE] 
 THIS
NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 OR UNDER THE SECURITIES LAWS OF ANY STATE. NO TRANSFER, SALE OR OTHER DISPOSITION OF THIS NOTE MAY BE MADE UNLESS A REGISTRATION STATEMENT WITH RESPECT TO THIS NOTE HAS BECOME EFFECTIVE
UNDER SUCH ACT, AND SUCH REGISTRATION OR QUALIFICATION AS MAY BE NECESSARY UNDER THE SECURITIES LAWS OF ANY STATE HAS BECOME EFFECTIVE, OR AN EXEMPTION FROM SUCH REGISTRATIONS AND/OR QUALIFICATIONS IS AVAILABLE UNDER SUCH ACT AND SUCH LAWS. EACH
TRANSFEREE OF THIS NOTE, BY ACCEPTANCE OF THIS NOTE REGISTERED IN ITS NAME (OR THE NAME OF ITS NOMINEE), WILL BE DEEMED TO HAVE MADE CERTAIN REPRESENTATIONS SET FORTH IN THE AGREEMENT PURSUANT TO WHICH THIS NOTE WAS ISSUED. 

ARCH CHEMICALS, INC. 

[    ]% SERIES     SENIOR NOTE DUE
[            ,         ] 
 No.
[        ] [Date] 

PPN[                    ] 

ORIGINAL PRINCIPAL AMOUNT: 
 ORIGINAL ISSUE DATE:

 INTEREST RATE: 
 INTEREST PAYMENT
DATES: 
 FINAL MATURITY DATE: 

PRINCIPAL PREPAYMENT DATES AND AMOUNTS: 
 For Value Received, the undersigned, Arch Chemicals, Inc. (herein called the “Company”), a corporation organized and existing under the laws of the State of Virginia, hereby promises to
pay to [                ], or registered assigns, the principal sum of
[                    ] Dollars ($[        ]) [on the Final Maturity Date specified above (or so much thereof
as shall not have been prepaid),][, payable on the Principal Prepayment Dates and in the amounts specified above, and on the Final Maturity Date specified above in an amount equal to the unpaid balance of the principal hereof,] with interest
(computed on the basis of a 360-day year of twelve 30-day months) (a) on the unpaid balance hereof at the Interest Rate per annum specified above, payable on each Interest Payment Date specified above and on the Final Maturity Date specified
above, commencing with the Interest Payment Date next succeeding the date hereof, until the principal hereof shall have become due and payable, and (b) to the extent permitted by law, on any overdue payment of interest and, during the
continuance of an Event of Default, on such unpaid balance and on any overdue payment of any Make-Whole Amount, at a rate per annum (the “Default Rate”) from time to time equal to the greater of (i) [2.00]% over the Interest
Rate specified above or (ii) [2.00]% over the rate of interest publicly announced by JP Morgan Chase Bank, N.A. from time to time in New York, New York as its “base” or “prime” rate, payable on each Interest Payment Date as
aforesaid (or, at the option of the registered holder hereof, on demand). 

  
 Exhibit 1-B

 Page 1 

 Payments of principal of, interest on and any Make-Whole Amount with respect to this Note
are to be made in lawful money of the United States of America at JP Morgan Chase Bank, N.A. or at such other place as the Company shall have designated by written notice to the holder of this Note as provided in the Note Purchase Agreement referred
to below. 
 This Note is one of a series of Senior Notes (herein called the “Notes”) issued pursuant to the
Note Purchase and Private Shelf Agreement, dated as of August 28, 2009 (as from time to time amended, the “Note Purchase Agreement”), between the Company, Prudential Investment Management, Inc. and each Prudential Affiliate
which becomes a party thereto and is entitled to the benefits thereof. Each holder of this Note will be deemed, by its acceptance hereof, to have (i) agreed to the confidentiality provisions set forth in Section 20 of the Note Purchase
Agreement and (ii) made the representations set forth in Section 6 of the Note Purchase Agreement. Unless otherwise indicated, capitalized terms used in this Note shall have the respective meanings ascribed to such terms in the Note
Purchase Agreement. 
 This Note is a registered Note and, as provided in the Note Purchase Agreement, upon surrender of this
Note for registration of transfer, duly endorsed, or accompanied by a written instrument of transfer duly executed, by the registered holder hereof or such holder’s attorney duly authorized in writing, a new Note for a like principal amount
will be issued to, and registered in the name of, the transferee. Prior to due presentment for registration of transfer, the Company may treat the person in whose name this Note is registered as the owner hereof for the purpose of receiving payment
and for all other purposes, and the Company will not be affected by any notice to the contrary. 
 [The Company will make
required prepayments of principal on the dates and in the amounts specified above.] This Note is [also] subject to optional prepayment, in whole or from time to time in part, at the times and on the terms specified in the Note Purchase Agreement,
but not otherwise. 
 If an Event of Default occurs and is continuing, the principal of this Note may be declared or otherwise
become due and payable in the manner, at the price (including any applicable Make-Whole Amount) and with the effect provided in the Note Purchase Agreement. 
 This Note shall be construed and enforced in accordance with, and the rights of the Company and the holder of this Note shall be governed by, the law of the State of New York excluding choice-of-law
principles of the law of such State that would permit the application of the laws of a jurisdiction other than such State. 
  

			
	ARCH CHEMICALS, INC.
		
	By	 	  

	[Name]	 	
	[Title]	 	

  
 Exhibit 1-B

 Page 2 

 EXHIBIT 2 
 [FORM OF REQUEST FOR PURCHASE] 
 ARCH CHEMICALS, INC. 

Reference is made to the Note Purchase and Private Shelf Agreement (the “Agreement”), dated as of August 28, 2009, between
Arch Chemicals, Inc. (the “Company”), on the one hand, and Prudential Investment Management, Inc. (“Prudential”), the Series A Purchasers and each Prudential Affiliate which becomes party thereto, on the other hand. Capitalized
terms used and not otherwise defined herein shall have the respective meanings specified in the Agreement. 
 Pursuant to
Section 2.2(c) of the Agreement, the Company hereby makes the following Request for Purchase: 
  

	1.	AGGREGATE PRINCIPAL AMOUNT OF 

 the Shelf Notes covered hereby 
 (the
“Notes”)                     $            1 

 

	2.	INDIVIDUAL SPECIFICATIONS OF THE NOTES: 

  

									
	 Principal

Amount
	 	 Final Maturity

Date
	 	 Average Life
	 	 Principal
 Prepayment
 Dates and

Amounts
	 	 Interest Payment

Period

		 		 		 		 	[            ] in arrears

 

	3.	USE OF PROCEEDS OF THE NOTES: 

  

	4.	PROPOSED DAY FOR THE CLOSING OF THE PURCHASE AND SALE OF THE NOTES: 

 

	5.	THE PURCHASE PRICE OF THE NOTES IS TO BE TRANSFERRED TO: 

  

									
	 Name and Address
 and ABA Routing
 Number of
Bank
	 	 Number of

Account
	 	 	 	 	 	 

  
  

	6.	THE COMPANY CERTIFIES THAT (A) [EXCEPT AS SET FORTH ON EXHIBIT A HERETO,] THE REPRESENTATIONS AND WARRANTIES CONTAINED IN SECTION 5 OF THE AGREEMENT ARE
TRUE ON AND AS OF THE DATE OF THIS REQUEST FOR PURCHASE AND (B) THAT THERE 

  

	1	Minimum principal amount of $5,000,000. 

  
 Exhibit 2

 Page 1 

	 	 
EXISTS ON THE DATE OF THIS REQUEST FOR PURCHASE NO EVENT OF DEFAULT OR DEFAULT. 

  

	7.	ANY FEES REQUIRED TO BE PAID BY THE COMPANY TO THE PURCHASERS ON THE CLOSING DATE WILL BE PAID BY THE COMPANY ON SUCH DATE. 

 

							
			
	Dated:	 		 	[                           
                                         
                                         
               ]
				
		 		 	By:	 	 
		 		 	Authorized Officer

  
 Exhibit 2

 Page 2 

 Exhibit A 
 SUPPLEMENTAL REPRESENTATIONS 
 The Section references hereinafter set forth correspond to
the similar sections of the Agreement which are supplemented hereby: 

  
 Exhibit 2

 Page 3 

 EXHIBIT 3 
 [FORM OF CONFIRMATION OF ACCEPTANCE] 
 Reference is made to the Note Purchase and
Private Shelf Agreement (the “Agreement”), dated as of August 28, 2009 between Arch Chemicals, Inc. (the “Company”), on the one hand, and Prudential Investment Management, Inc. (“Prudential”), the Series A
Purchasers and each Prudential Affiliate which becomes party thereto, on the other hand. All terms used herein that are defined in the Agreement have the respective meanings specified in the Agreement. 

Prudential or the Prudential Affiliate which is named below as a Purchaser of Shelf Notes hereby confirms the representations as to such
Shelf Notes set forth in Section 6 of the Agreement, and agrees to be bound by the provisions of the Agreement applicable to the Purchasers or holders of the Notes. 
 Pursuant to Section 2.2(e) of the Agreement, an Acceptance with respect to the following Accepted Notes is hereby confirmed: 
 I. Accepted Notes: Aggregate principal 
 amount
$             
 (A)   (a) Name of Purchaser:

 (a) Principal amount: 
 (b) Final maturity date: 
 (c) Principal prepayment dates and amounts: 

(d) Interest rate: 
 (e) Interest payment period:             [            ] in arrears 

(f) Payment and notice instructions: As set forth on attached Purchaser Schedule 

(B)   (a) Name of Purchaser: 
 (g) Principal amount: 
 (h) Final maturity date: 

(i) Principal prepayment dates and amounts: 
 (j) Interest rate: 
 (k) Interest payment period:
            [            ] in arrears 

  
 Exhibit 3

 Page 1 

	 	(l)	Payment and notice instructions: As set forth on attached Purchaser Schedule 

 [(C), (D). same information as above.] 
 II. Closing Day: 

[                    
                ] 

By:                   
                                       

Name: 
 Title: 
 Dated: 

PRUDENTIAL INVESTMENT MANAGEMENT, INC. 

By: 
 Vice President 
 [PRUDENTIAL AFFILIATE] 

By: 
 Vice President 
 [ATTACH PURCHASER SCHEDULES] 

  
 Exhibit 3

 Page 2 

 EXHIBIT 4.4(a) 
 Form of Opinion of Special Virginia Counsel 
 to the Company

 See Attached 

  
 Exhibit 4.4(a)

 Page 1 

 EXHIBIT 4.4(a) 

 

			
		 	 HUNTON & WILLIAMS LLP

RIVERFRONT PLAZA, EAST TOWER
 951 EAST BYRD
STREET
 RICHMOND, VIRGINIA 23219-4074
  

TEL 804 • 788 • 8200
 FAX 804 •
788 • 8218

		
		 	FILE NO: 55403.000021
	 August 28, 2009
	 	

 To the Series A Purchasers (as defined below) 

Arch Chemicals, Inc. 
 Issuance and Sale of 6.70% Series A Senior Notes due August 28, 2016 
 Ladies and
Gentlemen: 
 We have acted as special Virginia counsel to Arch Chemicals, Inc., a Virginia corporation (the
“Company”), in connection with the transactions contemplated by the Note Purchase and Private Shelf Agreement, dated as of August 28, 2009 (the “Note Purchase Agreement”), among the Company, the Purchasers listed in
Schedule A thereto (the “Series A Purchasers”), Prudential Investment Management, Inc. (“Prudential”) and each other Prudential Affiliate which becomes bound by the Note Purchase Agreement. The transactions relate to the
issuance and sale by the Company to the Series A Purchasers of $75,000,000 aggregate principal amount of its 6.70% Series A Senior Notes due August 28, 2016 (the “Notes”). 

This opinion is being furnished to you at the request of the Company as required by Section 4.4(a) of the Note Purchase Agreement.
Capitalized terms used herein and not otherwise defined shall have the respective meanings given to them in the Note Purchase Agreement. 
 In connection with the foregoing, we have examined the following: 

(i) the Note Purchase Agreement; 
 (ii) the Notes; and 
 (iii) a Certificate of the Secretary of the
Company, dated the date hereof, to which the following documents are attached: 
 (a) the Amended and Restated
Articles of Incorporation, as amended through the date hereof, of the Company as certified on August 14, 2009 by the Clerk of the State Corporation Commission of the Commonwealth of Virginia (the “SCC”); 

(b) the Bylaws of the Company, as amended through the date hereof; 

  
 Exhibit 4.4(a)

 Page 2 

 EXHIBIT 4.4(a) 

(c) resolutions of Board of Directors of the Company adopted at a meeting on July 23, 2009, with respect to the Note
Purchase Agreement and the transactions contemplated thereby; and 
 (d) a certificate issued by the SCC on
August 14, 2009 and confirmed on the date hereof, to the effect that the Company is existing under the laws of the Commonwealth of Virginia and in good standing. 
 For purposes of the opinions expressed below, we have assumed (i) the authenticity of all documents submitted to us as originals, (ii) the conformity to the originals of all documents submitted
as certified, photostatic or electronic copies and the authenticity of the originals thereof, (iii) the genuineness of all signatures not witnessed by us and (iv) the due authorization, execution and delivery of all documents by all
parties and the validity, binding effect and enforceability thereof on such parties (other than the authorization, execution and delivery of documents by the Company). 
 As to factual matters, we have relied upon representations included in the documents submitted to us, upon certificates of officers of the Company and upon certificates of public officials. 

We do not purport to express an opinion on any laws other than those of the Commonwealth of Virginia. 

Based upon the foregoing and such other information and documents as we have considered necessary for the purposes hereof, we are of the
opinion that: 
 (1) The Company has been duly incorporated, is validly existing and in good standing under the
laws of the Commonwealth of Virginia and has the corporate power and authority to conduct its business as currently conducted as such business is described in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31,
2008, to execute and deliver the Note Purchase Agreement and the Notes and to perform the provisions thereof. 

(2) The Note Purchase Agreement has been duly authorized, executed and delivered by the Company. 

(3) The Notes have been duly authorized, executed and delivered by the Company. 

(4) No authorization, approval or other action by, and no notice to, consent of, order of or filing with any Virginia
governmental authority by the Company is required in connection with the execution, delivery or performance by the Company of its obligations under the Note Purchase Agreement or the Notes. 

  
 Exhibit 4.4(a)

 Page 3 

 EXHIBIT 4.4(a) 

This opinion is rendered solely for your benefit and for your successors and permitted assigns under the Note Purchase Agreement and may
not be distributed to or relied upon by any other person or for any other purpose, quoted in whole or in part, cited, referred to or otherwise reproduced in any other document, nor is it to be filed with any governmental agency, without our prior
written consent; provided, however, that you may file this opinion with any regulatory body to which you are subject, including, without limitation, the National Association of Insurance Commissioners without our prior written consent. We do not
undertake to advise you of any changes in the opinions expressed herein from matters that might hereafter arise or be brought to our attention. 
 Very truly yours, 

  
 Exhibit 4.4(a)

 Page 4 

 EXHIBIT 4.4(b) 
 Form of Opinion of General Counsel 
 of the Company 

See Attached 

  
 Exhibit 4.4(b)

 Page 1 

 EXHIBIT 4.4(b) 
 [ARCH CHEMICALS LETTERHEAD] 
 August 28, 2009 

To Prudential Investment Management, Inc. 
 and
the Purchasers named in Schedule A to 
 the Note Purchase and Private Shelf Agreement 

Arch Chemicals, Inc. 
 $75,000,000 6.70% Series A Senior Notes Due August 28, 2016 
 Ladies and Gentlemen:

 I am Vice President, General Counsel and Secretary of Arch Chemicals, Inc., a Virginia corporation (the
“Company”). This opinion is delivered to you pursuant to Section 4.4(b) of the Note Purchase and Private Shelf Agreement dated as of August 28, 2009 (the “Note Purchase Agreement”), by and among the
Company, Prudential Investment Management, Inc. (“Prudential”) and the several purchasers listed in Schedule A thereto (together with Prudential, the “Purchasers”), relating to the purchase by the Purchasers on
the date hereof of $75,000,000 aggregate principal amount of the Company’s 6.70% Series A Senior Notes due August 28, 2016 (the “Notes”). Capitalized terms used but not defined herein shall have the respective meanings
assigned thereto in the Note Purchase Agreement. 
 In that connection, I have examined originals, or copies certified or
otherwise identified to my satisfaction, of such documents, corporate records and other instruments as I have deemed necessary or appropriate for the purposes of this opinion, including: (a) the Amended and Restated Articles of Incorporation of
the Company, (b) the By-laws of the Company, (c) the Note Purchase Agreement and (d) the Notes. 
 Based upon the
foregoing, I am of opinion as follows: 
 (a) The issuance and sale of the Notes and the execution, delivery and performance by
the Company of the Note Purchase Agreement do not violate any Material agreement or other Material instrument known to me to which the Company or any Material Subsidiary is a party or by which the company or any Material Subsidiary may be bound.

  
 Exhibit 4.4(b)

 Page 2 

 EXHIBIT 4.4(b) 

(b) There are no actions, suits or proceedings pending or, to my knowledge and after inquiry of the Company’s in-house counsel
primarily responsible for insurance and litigation matters, threatened, against the Company or any Subsidiary in any court or before any Governmental Authority or arbitration board or tribunal which, in my good faith judgment, would reasonably be
expected to have a materially adverse effect on the consolidated financial condition or consolidated results of operations of the Company and its Subsidiaries take as a whole or on the legality, validity or enforceability of the Company’s
obligations under the Note Purchase Agreement or the Notes. To my knowledge, there is no default on the part of the Company or any Subsidiary with respect to any outstanding applicable order or judgment of any court or Governmental Authority or
arbitration board that would reasonably be expected to have a materially adverse effect on the consolidated financial condition or consolidated results of operations of the Company and its Subsidiaries taken as a whole. 

I am admitted to practice in the State of New York, and I express no opinion as to matters governed by any laws other than the laws of
the State of New York. 
 I am furnishing this opinion to you, as the purchasers in a transaction exempt from the registration
requirements of the Securities Act, solely for your benefit and your successors and permitted assigns under the Note Purchase Agreement. This opinion may not be relied upon by any other person or for any other purpose or used, circulated, quoted or
otherwise referred to for any other purpose; provided that it may be disclosed to any regulatory authority to which you are subject, including without limitation the National Association of Insurance Commissioners, in connection with a review of the
above transactions. I am opining as to the matters herein only as of the date hereof, and, while you are authorized to show this opinion to such regulatory authorities for such purposes, the rights to do so do not imply any rights on their part to
rely on this opinion or any obligation on my part to update this opinion. 
 Very truly yours, 

Sarah A. O’Connor 
 Vice President, General Counsel and Secretary 

  
 Exhibit 4.4(b)

 Page 3 

 EXHIBIT 4.4(c) 
 Form of Opinion of Special Counsel 
 to the Company 

See Attached 

  
 Exhibit 4.4(c)

 Page 1 

 EXHIBIT 4.4(c) 
  

 August 28, 2009 

Arch Chemicals, Inc. 
 $75,000,000 6.70% Series A Senior Notes Due August 28, 2016 
 Ladies and Gentlemen:

 We have acted as special counsel for Arch Chemicals, Inc., a Virginia corporation (the “Company”), in
connection with the purchase on the date hereof by the Purchasers (as defined below) of $75,000,000 aggregate principal amount of the Company’s 6.70% Series A Senior Notes due August 28, 2016 (the “Notes”) pursuant to the
Note Purchase and Private Shelf Agreement dated as of August 28, 2009 (the “Note Purchase Agreement”), among the Company, Prudential Investment Management, Inc. (“Prudential”) and the several purchasers listed
in Schedule A thereto (together with Prudential, the “Purchasers”). Capitalized terms used but not defined herein shall have the respective meanings assigned thereto in the Note Purchase Agreement. 

In that connection, we have examined originals, or copies certified or otherwise identified to our satisfaction, of such documents,
corporate records and other instruments as we have deemed necessary or appropriate for the purposes of this opinion, including: (a) the Note Purchase Agreement, (b) the Notes and (c) a certificate dated as of the date hereof, from an
officer of the Company (the “Officer’s Certificate”), attached as Exhibit A hereto. As noted in paragraphs 3, 4 and 5, we have relied, with respect to certain factual matters, on the representations and warranties of the
Company and the Purchasers in the Note Purchase Agreement and the Officer’s Certificate, and have assumed compliance by each such party with the terms of the Note Purchase Agreement. 

Based upon the foregoing and subject to the qualifications set forth herein, we are of opinion as follows: 

1. Assuming that the Note Purchase Agreement has been duly authorized, executed and delivered by the parties thereto, the Note Purchase
Agreement constitutes a legal, valid and binding agreement of the Company, enforceable against the Company in accordance with its terms (subject to applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent transfer, and other similar
laws affecting creditors’ rights generally from time to time in effect and to general principles of equity, including, without limitation, concepts of 

  
 Exhibit 4.4(c)

 Page 2 

 EXHIBIT 4.4(c) 
  

 
materiality, reasonableness, good faith and fair dealing, regardless of whether considered in a proceeding in equity or at law). 

2. Assuming that the Notes have been duly authorized, executed and delivered by the Company, the Notes constitute legal, valid and
binding obligations of the Company, enforceable against the Company in accordance with their terms (subject to applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent transfer, and other similar laws affecting creditors’
rights generally from time to time in effect and to general principles of equity, including, without limitation, concepts of materiality, reasonableness, good faith and fair dealing, regardless of whether considered in a proceeding in equity or at
law). 
 3. Assuming (i) the accuracy of, and compliance with, the representations, warranties and covenants of the Company
in the Note Purchase Agreement and (ii) the accuracy of, and compliance with, the representations, warranties and covenants of each Purchaser in the Note Purchase Agreement, it is not necessary in connection with the offer, sale and delivery of
the Notes in the manner contemplated by the Note Purchase Agreement, to register the Notes under the Securities Act of 1933, as amended, or to qualify an indenture in respect of the Notes under the Trust Indenture Act of 1939, as amended, it being
understood that no opinion is expressed as to any resale of any Notes. 
 4. Based solely on the Officer’s Certificate, the
Company is not required to register as an “investment company” as such term is defined in the Investment Company Act of 1940, as amended. 
 5. Assuming the accuracy of, and compliance with, the representations, warranties and covenants of the Company in Section 5.14 of the Note Purchase Agreement, none of the transactions contemplated by
the Note Purchase Agreement (including, without limitation, the use of the proceeds from the sale of the Notes) will violate or result in a violation of Regulations T, U or X of the Board of Governors of the United States Federal Reserve System.

 We express no opinion herein as to any provision of the Note Purchase Agreement or the Notes that (a) relates to the
subject matter jurisdiction of any Federal court of the United States of America, or any Federal appellate court, to adjudicate any controversy related to the Note Purchase Agreement or the Notes, (b) contains a waiver of an inconvenient forum
or (c) relates to the waiver of rights to jury trial. We also express no opinion as to whether a state court outside the State of New York or a Federal court of the United States would give effect to the choice of New York law provided for in
the Note Purchase Agreement or the Notes. 
 We understand that you are satisfying yourselves as to the status under
Section 548 of the Bankruptcy Code and applicable state fraudulent conveyance laws of the obligations of the Company under the Note Purchase Agreement and the Notes, and we express no opinion thereon. 

We are admitted to practice in the State of New York, and we express no opinion as to matters governed by any laws other than the laws of
the State of New York and the Federal law of the United States of America. In particular, we do not purport to pass on any matter governed by the laws of the Commonwealth of Virginia. 

  
 Exhibit 4.4(c)

 Page 3 

 EXHIBIT 4.4(c) 
  

 We are furnishing this opinion to you solely for your benefit and the benefit of the
several Purchasers. This opinion may not be relied upon by any other person (including by any person that acquires the Notes from a Purchaser) or for any other purpose. It may not be used, circulated, quoted or otherwise referred to for any other
purpose; provided that this opinion may be shown to regulatory authorities to which you are subject (including, without limitation, the National Association of Insurance Commissioners) in connection with a review of the above transactions and
to any transferee or potential transferee of the Notes in connection with a sale of the Notes to such transferee. We are opining as to the matters herein only as of the date hereof, and, while you are authorized to show this opinion to such
regulatory authorities or transferees for such purposes, the rights to do so do not imply any rights on their part to rely on this opinion or any obligation on our part to update this opinion. 

Very truly yours, 
 Prudential Investment Management, Inc. 
 c/o Prudential Capital Group 

1114 Avenue of the Americas, 30th Floor 

New York, New York 10036 
 Gibraltar Life Insurance Co., Ltd. 
 c/o Prudential Private Placement Investors,
L.P. 
 c/o Prudential Capital Group 

1114 Avenue of the Americas, 30th Floor 
 New York, New York 10036 
 United of Omaha Life Insurance Company 

c/o Prudential Private Placement Investors, L.P. 
 c/o Prudential Capital Group 
 1114 Avenue of
the Americas, 30th Floor 

New York, New York 10036 
 Prudential Retirement Insurance and Annuity Company 
 c/o
Prudential Capital Group 
 1114 Avenue of the Americas, 30th Floor 

New York, New York 10036 

  
 Exhibit 4.4(c)

 Page 4 

 EXHIBIT 4.4(b) 
 Form of Opinion of Special Counsel 
 to the Purchasers 

See Attached 

 August 28, 2009 
 To each of the Purchasers listed on Annex 1 hereto 
 Re: Arch Chemicals, Inc. 

Ladies and Gentlemen: 
 We have
acted as special counsel for each of you (collectively, the “Purchasers”) in connection with the transactions contemplated by that certain Note Purchase and Private Shelf Agreement (the “Shelf Agreement”), dated as
of August 28, 2009, by and among Arch Chemicals, Inc., a Virginia corporation (the “Company”), Prudential Investment Management, Inc. (“Prudential”), and each of the Purchasers named on the Schedule A attached
thereto, which provides, among other things, for (i) the issuance and sale by the Company of its 6.70% Series A Senior Notes due August 28, 2016 in the aggregate principal amount of $75,000,000 (the “Series A Notes”), and
(ii) the future issuance and sale by the Company from time to time of senior promissory notes in an aggregate principal amount of up to $75,000,000 (the “Shelf Notes”, and together with the Series A Notes, the
“Notes”) within the limits prescribed by, and subject to the terms and conditions of, the Shelf Agreement. Capitalized terms used herein and not otherwise defined shall have the respective meanings given such terms in the Shelf
Agreement. 
 This opinion is delivered to you pursuant to Section 4.4(d) of the Shelf Agreement. Our representation of the
Purchasers has been as special counsel for the purposes stated above. 
 In connection with this opinion, we have examined
originals or copies of the following documents: 
 (i) the Shelf Agreement; 

(ii) each Series A Note, dated the date hereof, in the names, in the principal amounts and with the registration numbers
set forth on Schedule A to the Shelf Agreement; 
 (iii) Officer’s Certificate of the Company, dated the
date hereof, and delivered pursuant to Section 4.3(a) of the Shelf Agreement, with respect to the matters set forth therein (the “Officer’s Certificate”); 

(iv) a certificate of the Secretary of the Company, dated the date hereof, certifying, among other things, as to the
Company’s Amended and Restated Articles of Incorporation and Bylaws (collectively, the 

 
“Governing Documents”) and certain resolutions of the board of directors of the Company, delivered pursuant to Section 4.3(b) of the Shelf Agreement (the
“Secretary’s Certificate”); 
 (v) the opinion of Hunton & Williams LLP, in its
capacity as special Virginia counsel to the Company, dated the date hereof and delivered to you pursuant to Section 4.4(a) of the Shelf Agreement; 
 (vi) the opinion of Sarah A. O’Connor, General Counsel of the Company, dated the date hereof and delivered to you pursuant to Section 4.4(b) of the Shelf Agreement; 

(vii) the opinion of Cravath, Swaine & Moore LLP, in its capacity as special counsel to the Company, dated the
date hereof and delivered to you pursuant to Section 4.4(c) of the Shelf Agreement; and 
 (viii) a cross
receipt evidencing receipt of funds by the Company and receipt of the Series A Notes by the Purchasers (the “Cross Receipt”). 
 The Shelf Agreement and the Series A Notes are sometimes referred to herein as the “Financing Documents”. This opinion is based entirely on our review of the documents listed in the
preceding paragraph and we have made no other documentary review or investigation for purposes of this opinion, except to the extent set forth in the next succeeding sentence. Based on such investigation as we have deemed appropriate, the opinions
referred to in clauses (v) through (vii), inclusive, above are satisfactory in form and scope to us, and, in our opinion, you are justified in relying thereon. 
 As to all matters of fact (including factual conclusions and characterizations and descriptions of purpose, intention or other state of mind), we have relied, with your permission, entirely upon
(1) the representations and warranties of the Company and the Purchasers set forth in the Shelf Agreement and (2) the Officer’s Certificate and the Secretary’s Certificate, and we have assumed, without independent inquiry, the
accuracy of such representations, warranties, certificates and letter. 
 We have assumed the genuineness of all signatures, the
conformity to the originals of all documents reviewed by us as copies, the authenticity and completeness of all original documents reviewed by us in original or copy form, the legal competence of each individual executing any document and that each
Person executing the Financing Documents validly exists, has the power and authority to enter into and perform its obligations under the Financing Documents, and (where applicable) is qualified to do business and in good standing under the laws of
its jurisdiction of incorporation or organization and each jurisdiction where such qualification is required generally or is necessary in order for such party to enforce its rights under such documents. We have further assumed that such documents
have been duly authorized, executed and delivered 

 
by each Person executing such documents, and, as to Persons other than the Company, are binding upon and enforceable against, such Persons. 

For purposes of this opinion, we have made such examination of law as we have deemed necessary. Except to the extent addressed below in
paragraph 2, this opinion is limited solely to the internal substantive laws of the State of New York as applied by courts located in the State of New York without regard to choice of law and the federal laws of the United States of America (in each
case, except for federal and state tax, energy, utilities, national security, anti-terrorism, anti-money laundering and antitrust laws, as to which we express no opinion in this letter) and we express no opinion as to the laws of any other
jurisdiction. Our opinion in paragraph 3 below is based solely on a review of the Company’s Governing Documents and we have not made any analysis of the internal substantive law of the jurisdiction of organization of the Company, including
statutes, rules or regulations or any interpretations thereof by any court, administrative body, or other government authority, and we express no opinion in paragraph 3 below as to the internal substantive law of the Company’s jurisdiction of
organization. We note that the Financing Documents contain provisions stating that they are to be governed by the laws of the State of New York (each, a “Choice of Law Provision”). Except to the extent addressed below in paragraph
2, no opinion is given herein as to any Choice of Law Provision, or otherwise as to the choice of law or internal substantive rules of law that any court or other tribunal may apply to the transactions contemplated by the Financing Documents. Except
as set forth in paragraph 5 below, we express no opinions as to any securities or “blue sky” laws of any jurisdiction. 
 Our opinion is further subject to the following exceptions, qualifications and assumptions, all of which we understand to be acceptable to you: 

(a) We have assumed without any independent investigation (i) that the execution, delivery and performance by each of
the parties thereto of the Financing Documents do not and will not conflict with, or result in a breach of, the terms, conditions or provisions of, or result in a violation of, or constitute a default or require any consent (other than such consents
as have been duly obtained) under, any organizational document other than the Governing Documents (including, without limitation, applicable corporate charter documents and by-laws), any order, judgment, arbitration award or stipulation, or any
agreement, to which any of the properties or assets of any such parties is a party or is subject or by which any of the properties or assets of any of such parties is bound, (ii) that the statements regarding delivery and receipt of documents
and funds referred to in the Cross Receipt are true and correct, and (iii) that the Financing Documents are a valid and binding obligation of each party thereto to the extent that laws other than those of the State of New York are relevant
thereto (other than the laws of the United States of America, but only to 

 
the limited extent the same may be applicable to the Company and relevant to our opinions expressed below). 

(b) The enforcement of any obligations of any Person under the Financing Documents or otherwise may be limited by or
subject to bankruptcy, insolvency, reorganization, moratorium, marshaling or other laws and rules of law affecting the enforcement generally of creditors’ rights and remedies (including such as may deny giving effect to waivers of debtors’
or guarantors’ rights); and we express no opinion as to the status under any fraudulent conveyance laws or fraudulent transfer laws of any of the obligations of any Person, whether under the Financing Documents or otherwise. 

(c) We express no opinion as to the availability of any specific or equitable relief of any kind. 

(d) The enforcement of any of your rights may in all cases be subject to an implied duty of good faith and fair dealing
and to general principles of comity and equity, including, without limitation, concepts of materiality and reasonableness (regardless of whether such enforceability is considered in a proceeding at law or in equity), and will be subject to a duty to
act in a commercially reasonable manner. 
 (e) We express no opinion as to the enforceability of any particular
provision of any of the Financing Documents relating to or constituting (i) waivers of rights to object to jurisdiction or venue, consents to jurisdiction or venue, or waivers of rights to (or methods of) service of process, (ii) waivers
of rights to trial by jury, or other rights or benefits bestowed by operation of law, (iii) waivers of any applicable defenses, setoffs, recoupments, or counterclaims, (iv) waivers or variations of legal provisions or rights that are not
capable of waiver or variation under applicable law, (v) the granting of any power of attorney or of any proxy to any Person or (vi) exculpation or exoneration clauses, clauses relating to rights of indemnity or contribution, and clauses
relating to releases or waivers of unmatured claims or rights. 
 (f) Our opinion in paragraph 4 below is based
solely on a review of generally applicable laws of the State of New York and the United States of America and not on any search with respect to, or review of, any orders, decrees, judgments or other determinations specifically applicable to the
Company. 
 (g) We express no opinion as to the effect of events occurring, circumstances arising, or changes of
law becoming effective or occurring, after the date hereof on the matters addressed in this opinion letter, and we assume no responsibility to inform you of additional or changed facts, or changes in law, of which we may become aware. 

 Based on the foregoing, and subject to the limitations and qualifications set forth herein,
we are of the following opinions: 
 1. Each of the Financing Documents constitutes a legal, valid and binding obligation of the
Company, enforceable against the Company in accordance with its respective terms. 
 2. The Choice of Law Provisions are
enforceable in accordance with New York General Obligations Law section 5-1401, as applied by a New York State court or a federal court sitting in New York and applying New York choice of law principles. 

3. The execution and delivery by the Company of the Shelf Agreement and the Series A Notes, the sale of the Series A Notes by the Company
and the performance by the Company of its obligations under the Financing Documents will not constitute a violation of the Governing Documents or any of the provisions of any law, statute, rule or regulation of the State of New York. 

4. No consent, approval or authorization of, or designation, declaration, filing, registration, qualification or recordation with, any
Governmental Authority in respect of the Company is required to be obtained or effected under the laws of the State of New York or the United States of America in connection with the execution and delivery by the Company of the Financing Documents,
or in connection with the offer, issue, sale or delivery of the Series A Notes by the Company, in each case under the circumstances contemplated by the Financing Documents. 
 5. Under the circumstances contemplated by the Shelf Agreement, it is not necessary to register the offer and sale by the Company of the Series A Notes to you today under the Securities Act of 1933, as
amended, or to qualify an indenture in respect of the issuance of the Series A Notes to you under the Trust Indenture Act of 1939, as amended. 
 This opinion is delivered solely to you and for your benefit in connection with the Financing Documents and may not be relied upon by you for any other purpose or relied upon by any other person or entity
(other than future holders of Series A Notes acquired in accordance with the terms of the Financing Documents) for any reason without our prior written consent. 

Very truly yours, 
 BINGHAM McCUTCHEN LLP 

 EXHIBIT 4.4(d) 
 Annex 1 
 Purchasers 

The Prudential Insurance Company of America 

c/o Prudential Capital Group 

1114 Avenue of the Americas, 30th Floor 
 New
York, New York 10036 
 Gibraltar Life Insurance Co., Ltd. 
 c/o Prudential Private Placement Investors, L.P. 
 c/o Prudential Capital Group 

1114 Avenue of the Americas, 30th Floor 
 New
York, New York 10036 
 United of Omaha Life Insurance Company 
 c/o Prudential Private Placement Investors, L.P. 
 c/o Prudential Capital Group 

1114 Avenue of the Americas, 30th Floor 
 New
York, New York 10036 
 Prudential Retirement Insurance and Annuity Company 
 c/o Prudential Capital Group 
 1114 Avenue of the Americas, 30th Floor 
 New York, New York 10036 

  
 Exhibit 4.4(d)

 Schedule 5.4 

Subsidiaries, Ownership of Subsidiary Stock and Affiliated
Entities1 of 

Arch Chemicals, Inc.2 
 (as at August 24, 2009) 
  

									
	 Company 3
	  	 Incorporation/

Formation
	  	% Direct
/Indirect
Ownership
by
Arch	  	 Shareholder 4
	  	% Share-
holding
	 Advantis Technologies, Inc.

[Namesaver only]
	  	Delaware	  	100%	  	 - Arch Chemicals, Inc.
	  	100.00%
	 Arch Acquisition, LLC
	  	Delaware	  	100%	  	 - Arch Chemicals, Inc.
	  	100.00%
	 Arch Asia Holdings, Ltd.
	  	Republic of Mauritius	  	100%	  	 - Arch Chemicals, Inc.
	  	100.00%
	 Arch Biocides Trustee Limited
	  	England and Wales	  	100%	  	 - Hickson International Limited
	  	100.00%
	 Arch Chemicals B.V. 5
	  	Netherlands	  	100%	  	 - Arch Chemicals Specialty Products, Inc.
	  	100.00%
	 Arch Chemicals California Holdings, Inc.

[Dormant]
	  	Delaware	  	100%	  	 - Arch Chemicals, Inc.
	  	100.00%
	 Arch Chemicals Canada, Inc.
	  	Canada	  	100%	  	 - Arch Chemicals Specialty Products, Inc.
	  	100.00%
	 Arch Chemicals (China) Co., Ltd. 6
	  	People’s Republic of China	  	100%	  	 - Arch Asia Holdings, Ltd.
	  	100.00%
	 Arch Chemicals Far East, Limited 7
	  	Delaware	  	100%	  	 - Arch Chemicals, Inc.
	  	100.00%
	 Arch Chemicals GmbH
	  	Germany	  	100%	  	 - Arch Chemicals Specialty Products, Inc.
	  	100.00%
	 Arch Chemicals Holdings, Inc.
	  	Virginia	  	100%	  	 - Arch Chemicals, Inc.

- Arch Chemicals Specialty Products, Inc.
	  	95.23%

04.77%

  
 Schedule 5.4

 Page 1 

									
	 Company 3
	  	 Incorporation/

Formation
	  	% Direct
/Indirect
Ownership
by
Arch	  	 Shareholder 4
	  	% Share-
holding
	 Arch Chemicals (Hong Kong) Limited
	  	Hong Kong	  	100%	  	 - Arch Chemicals, Inc.
	  	100.00%
	 Arch Chemicals (Israel) Ltd.

[Dormant; to be dissolved]
	  	Israel	  	100%	  	 - Arch Chemicals Specialty Products, Inc.

- Arch Chemicals, Inc.
	  	99.00%
 01.00%

	 Arch Chemicals Japan, Inc.
	  	Japan	  	100%	  	 - Arch Chemicals Specialty Products, Inc.
	  	100.00%
	 Arch Chemicals Limited
	  	England and Wales	  	100%	  	 - Arch Chemicals Specialty Products, Inc.
	  	100.00%
	 Arch Chemicals (M) Sdn. Bhd.
	  	Malaysia	  	100%	  	 - Arch Investments Holdings Pty Limited
	  	100.00%
	 Arch Chemicals Products Limited 8
	  	England and Wales	  	100%	  	 - Arch Chemicals Limited
	  	100.00%
	 Arch Chemicals (Proprietary) Limited
	  	South Africa	  	100%	  	 - Arch Chemicals Specialty Products, Inc.
	  	100.00%
	 Arch Chemicals Receivables Corp.
	  	Delaware	  	100%	  	 - Arch Chemicals, Inc.
	  	100.00%
	 Arch Chemicals S.A.
	  	France	  	100%	  	 - Arch Chemicals Holdings, Inc.
	  	100.00%
	 Arch Chemicals Singapore Pte Ltd
	  	Singapore	  	100%	  	 - Arch Chemicals Specialty Products, Inc.
	  	100.00%
	 Arch Chemicals Specialty Products, Inc.
	  	Delaware	  	100%	  	 - Arch Chemicals, Inc.
	  	100.00%
	 Arch Chemicals S.R.L.
	  	Italy	  	100%	  	 - Arch Chemicals, Inc.

- Arch Chemicals Specialty Products, Inc.
	  	99.00%
 01.00%

	 Arch Chemicals UK Finance

(Private Unlimited Company)
	  	England and Wales	  	100%	  	 - Arch Chemicals UK Holdings Limited

- Arch Chemicals Holdings, Inc.
 (1 share held as nominee for Arch Chemicals UK Holdings Limited)
	  	{100.00%
	 Arch Chemicals UK Holdings Limited
	  	England and Wales	  	100%	  	 - Arch Chemicals Holdings, Inc.
	  	100.00%
	 Arch Coatings España S.L.
	  	Spain	  	100%	  	 - Hickson Nederland BV
	  	100.00%
	 Arch Coatings France SA
	  	France	  	100%	  	 - Arch Investments France S.A.S.
	  	100.00%

  
 Schedule 5.4

 Page 2 

									
	 Company 3
	  	 Incorporation/

Formation
	  	% Direct
/Indirect
Ownership
by
Arch	  	 Shareholder 4
	  	% Share-
holding
	 Arch Coatings UK Limited 9
	  	England and Wales	  	100%	  	 - Hickson International Limited
	  	100.00%
	 Arch Color Srl
	  	Italy	  	100%	  	 - Arch UK Biocides Limited
	  	100.00%
	 Arch Electronic Chemicals, Inc.

[Dormant]
	  	Pennsylvania	  	100%	  	 - Arch Chemicals Specialty Products, Inc.
	  	100.00%
	 Arch Export Trading Corporation 10
	  	Barbados	  	100%	  	 - Arch Chemicals, Inc.
	  	100.00%
	 Arch International Pty Limited
	  	 Australia
 (New South
Wales)
	  	100%	  	 - Arch Investments Holdings Pty Limited
	  	100.00%
	 Arch International Trading (Shanghai) Co., Ltd.
	  	People’s Republic of China	  	100%	  	 - Arch Asia Holdings, Ltd.
	  	100.00%
	 Arch Investments Australia Pty Ltd
	  	 Australia

(Victoria)
	  	100%	  	 - Hickson Nederland BV
	  	100%
	 Arch Investments France S.A.S.
	  	France	  	100%	  	 - Hickson Nederland BV

- Hickson Investments Limited
	  	65.33%
 34.67%

	 Arch Investments Holdings Pty Limited
	  	 Australia
 (New South
Wales)
	  	100%	  	 - Arch Investments Australia Pty Ltd
	  	100.00%
	 Arch PCI, Inc.
	  	Delaware	  	100%	  	 - Arch Chemicals, Inc.
	  	100.00%
	 Arch Personal Care Products, L.P.

[A limited partnership]
	  	New Jersey	  	100%	  	 - Arch Acquisition, LLC (Limited Partner)

- Arch PCI, Inc. (General Partner)
	  	99.00%
 01.00%

	 Arch Personal Care Products (Proprietary) Limited
	  	South Africa	  	100%	  	 - Arch Chemicals (Proprietary) Limited
	  	100.00%
	 Arch Products Holdings, Inc.
	  	Virginia	  	100%	  	 - Arch Chemicals, Inc.
	  	100.00%
	 Arch Quimica Argentina S.R.L.
	  	Argentina	  	100%	  	 - Arch Wood Protection, Inc.

- Hickson (USA) Corp.
	  	98.97%

01.03%

  
 Schedule 5.4

 Page 3 

									
	 Company 3
	  	 Incorporation/

Formation
	  	% Direct
/Indirect
Ownership
by
Arch	  	 Shareholder 4
	  	% Share-
holding
	 Arch Quimica Brasil Ltda.
	  	Brazil	  	100%	  	 - Arch Chemicals Specialty Products, Inc.

- Arch Quimica De Venezuela S.A.
	  	99.99%
 00.01%

	 Arch Quimica Colombia S.A.
	  	Colombia	  	100%	  	 - Arch Chemicals, Inc.

- Arch Quimica De Venezuela S.A.

- 3 Arch individuals
	  	94.99%
 02.01%

03.00%

	 Arch Quimica De Venezuela S.A. 11
	  	Delaware	  	100%	  	 - Arch Chemicals, Inc.
	  	100.00%
	 Arch Quimica, S.A. de C.V.
	  	Mexico	  	100%	  	 - Arch Chemicals, Inc.
	  	100.00%
	 Arch Quimica Uruguay S.A.
	  	Uruguay	  	100%	  	 - Arch Chemicals California Holdings, Inc.
	  	100.00%
	 Arch Sayerlack Coatings Singapore Pte. Ltd. 12
	  	Singapore	  	100%	  	 - Hickson Investments Limited
	  	100.00%
	 Arch Sayerlack Coatings S.r.l.
	  	Italy	  	100%	  	 - Arch UK Biocides Limited
	  	100.00%
	 Arch Timber Protection AB
	  	Sweden	  	100%	  	 - Hickson Investments Limited
	  	100.00%
	 Arch Timber Protection BV
	  	The Netherlands	  	100%	  	 - Hickson Nederland BV
	  	100.00%
	 Arch Timber Protection Limited 9
	  	England and Wales	  	100%	  	 - Hickson International Limited
	  	100.00%
	 Arch Timber Protection NV/SA
	  	Belgium	  	100%	  	 - Hickson Nederland BV

- Arch Timber Protection Limited

- Hickson International Limited
	  	99.98%
 00.01%

00.01%

	 Arch Trading NV
	  	Belgium	  	100%	  	 - Arch Chemicals Canada Inc.

- Arch Chemicals Specialty Products, Inc.
	  	98.29%
 01.71%

	 Arch Treatment Technologies, Inc.
	  	Virginia	  	100%	  	 - Arch Products Holdings, Inc.
	  	100.00%
	 Arch UK Biocides Limited
	  	England and Wales	  	100%	  	 - Arch Chemicals UK Holdings Limited

- Hickson Nederland BV
	  	98.175%
 1.825%

	 Arch Water Products France S.A.S.
	  	France	  	100%	  	 - Arch Chemicals Holdings, Inc.
	  	100.00%
	 Arch Water Products South Africa (Proprietary) Limited.
	  	South Africa	  	100%	  	 - Arch Chemicals, Inc.

- Arch Chemicals (Proprietary) Limited
	  	50.00%

50.00%

  
 Schedule 5.4

 Page 4 

									
	 Company 3
	  	 Incorporation/

Formation
	  	% Direct
/Indirect
Ownership
by
Arch	  	 Shareholder 4
	  	% Share-
holding
	 Arch Wood Protection (Aust) Pty Limited 
	  	 Australia
 (New South
Wales)
	  	100%	  	 - Arch Investments Holdings Pty Limited

- Arch Investments Australia Pty Ltd
	  	80.00%
 20.00%

	 Arch Wood Protection Canada Corp.
	  	Canada (Ontario)	  	100%	  	 - Arch Wood Protection, Inc.
	  	100.00%
	 Arch Wood Protection (Fiji) Limited
	  	Fiji	  	100%	  	 - Arch Investments Holdings Pty Limited

- Hickson Investments Limited

- Arch Investments Australia Pty Ltd
	  	80.00%
 10.00%

10.00%

	 Arch Wood Protection, Inc.
	  	Delaware	  	100%	  	 - Hickson (USA) Corp.
	  	100.00%
	 Arch Wood Protection (M) Sdn. Bhd.
	  	Malaysia	  	100%	  	 - Arch Chemicals (M) Sdn. Bhd.
	  	100.00%
	 Arch Wood Protection (NZ) Limited
	  	New Zealand	  	100%	  	 - Arch Investments Holdings Pty Limited

- Hickson Investments Limited

- Arch Investments Australia Pty Ltd
	  	98.22%
 00.89%

00.89%

	 Arch Wood Protection (SA) (Proprietary) Limited 13
	  	South Africa	  	100%	  	 - Arch International Pty Limited
	  	100.00%
	 Ascu Arch Timber Protection Limited
	  	India	  	30%	  	 - Arch Timber Protection Limited

- Various company & private shareholders
	  	30.00%
 70.00%

	 Doe Run Gas Marketing Company
	  	Kentucky	  	100%	  	 - Doe Run Gas Transmission Company
	  	100.00%
	 Doe Run Gas Transmission Company
	  	Kentucky	  	100%	  	 - Arch Chemicals, Inc.
	  	100.00%
	 Drinkard Developments

[General Partnership]
	  	Delaware	  	50%	  	 - HMD, Inc.

- Alta-C Corporation
	  	50.00%
 50.00%

	 GlobalBA.com, Inc.

[In bankruptcy proceedings]
	  	Massachusetts	  	19.02%	  	 - Arch Chemicals, Inc. 14
 - Celanese Americas Corporation
 - Mirick O’Connell
(Attorneys at Law)
	  	19.02%
 80.79%

00.19%

	 Hemel Emprenye Sanayi ve Ticaret A.S.
	  	Turkey	  	33%	  	 - Arch Timber Protection Limited

- 5 private shareholders
	  	33.00%
 67.00%

	 Hickson Chemical Supplies Limited 9
	  	England and Wales	  	100%	  	 - Hickson International Limited
	  	100.00%

  
 Schedule 5.4

 Page 5 

									
	 Company 3
	  	 Incorporation/

Formation
	  	% Direct
/Indirect
Ownership
by
Arch	  	 Shareholder 4
	  	% Share-
holding
	 Hickson Chemicals Limited

[To be liquidated]
	  	England and Wales	  	100%	  	 - Hickson International Limited
	  	100.00%
	 Hickson Corp.

[Namesaver only]
	  	Delaware	  	100%	  	 - Arch Chemicals, Inc.
	  	100.00%
	 Hickson Insurance Limited
	  	Isle of Man, United Kingdom	  	100%	  	 - Hickson Investments Limited
	  	100.00%
	 Hickson International Limited
	  	England and Wales	  	100%	  	 - Arch Chemicals UK Holdings Limited

- Arch Chemicals Holdings, Inc.
	  	99.99%
 00.01%

	 Hickson Investments Limited
	  	England and Wales	  	100%	  	 - Hickson Timber Products Limited
	  	100.00%
	 Hickson Limited 15
	  	England and Wales	  	100%	  	 - Hickson International Limited
	  	100.00%
	 Hickson Nederland BV
	  	The Netherlands	  	100%	  	 - Arch Chemicals Holdings, Inc.
	  	100.00%
	 Hickson Supplies Limited

[Dormant; To be liquidated]
	  	England and Wales	  	100%	  	 - Hickson Limited
	  	100.00%
	 Hickson Surface Coatings Hellas AE

[In liquidation]
	  	Greece	  	100%	  	 - Hickson Investments Limited

- Roberto Bonoli
	  	99.99%
 00.01%

	 Hickson Timber Products Limited

[Namesaver]
	  	England and Wales	  	100%	  	 - Hickson International Limited
	  	100.00%
	 Hickson (USA) Corp.
	  	Delaware	  	100%	  	 - Hickson Investments Limited
	  	100.00%
	 Hickson W.A. Chemicals Limited 9
 [Dormant]
	  	England and Wales	  	100%	  	 - Hickson Limited
	  	100.00%
	 HMD, Inc.
	  	Delaware	  	100%	  	 - Hickson (USA) Corp.
	  	100.00%
	 Hydro Asistencia S.L.

[Dormant]
	  	Spain	  	19%	  	 - Arch Water Products France S.A.S

- Roger Jarrion
 - Aquatechnique SARL
	  	19.00%
 66.00%

15.00%

	 Hydromen España, S.L.
	  	Spain	  	100%	  	 - Arch Chemicals, Inc.
	  	100.00%

  
 Schedule 5.4

 Page 6 

									
	 Company 3
	  	 Incorporation/

Formation
	  	% Direct
/Indirect
Ownership
by
Arch	  	 Shareholder 4
	  	% Share-
holding
	 Inversiones Hickson Chile SA
	  	Chile	  	100%	  	 - Arch Timber Protection Limited

- Hickson International Limited
	  	99.00%
 01.00%

	 Komfort Systems (Holland) BV

[Dormant]
	  	The Netherlands	  	100%	  	 - Hickson Nederlands BV
	  	100.00%
	 Proteccion de Madera Ltda. 16
	  	Chile	  	50%	  	 - Inversiones Hickson Chile SA

- Quimica y Metalurgica Ltda CPA
	  	50.00%
 50.00%

	 Splashes Inc.
	  	Delaware	  	100%	  	 - Arch Chemicals, Inc.
	  	100.00%
	 The Applied Research Group, Inc

[Dormant]
	  	North Carolina	  	100%	  	 - Hickson (USA) Corp.
	  	100.00%
	 Van Swaay-Garantor BV

[Inactive]
	  	The Netherlands	  	100%	  	 - Hickson Nederland BV
	  	100.00%
	 WLSK-Pasadena, LLC

[Inactive]
	  	Texas	  	100%	  	 - Hickson (USA) Corp.
	  	100.00%

  

	1.	Includes Affiliates, Investments, Joint Ventures and Partnerships. 

	2.	Incorporated in the Commonwealth of Virginia, U.S.A., and does business in the States of California, Georgia, Illinois & Wisconsin under the following assumed
names: 

	 	-	Applied Biochemists – CA; GA. 

	 	-	Bluegrass Water Products – GA. 

	 	-	GLB Pool & Spa – GA; WI. 

	 	-	Leisure Time – CA; GA; WI. 

	 	-	Marine Biochemists – CA; GA. 

	 	-	Marine Biochemists of California – CA. 

	 	-	Marine Biochemists of Illinois – IL. 

	 	-	Pool Pal Products – WI. 

	 	-	Quantum Biochemical – WI. 

	 	-	ROBARB – CA; GA; WI. 

  
 Schedule 5.4

 Page 7 

	3.	A corporation unless otherwise indicated. 

	4.	Includes shares held by individuals in trust for Arch Chemicals, Inc. or a subsidiary of Arch or shares held by employees of Arch to reach the minimum requirements for
number of shareholders. 

	5.	Has a Branch Office in Ireland. 

	6.	Has a Branch Office in Shanghai, People’s Republic of China. 

	7.	Has a Branch Office in Korea, in process of being closed down, under trade name Arch Chemicals Far East, Limited (Korean Branch Office). 

	8.	Has a Branch Office in India. 

	9.	Undisclosed agent of Hickson Limited. 

	10.	FSC for Arch Chemicals, Inc. 

	11.	(a)    Has a dormant Branch Office in Venezuela. 

	 	(b)	Qualified in Connecticut under the name of Arch Quimica De Venezuela S.A. Inc. 

	12.	Has a Representative Office in Vietnam. 

	13.	Trading as “Coastchem”. 

	14.	On August 21, 2000, the capitalization of GlobalBA.Com, Inc. was: 2,575,050 shares Common Stock, 331,332 shares Series A Convertible Preferred Stock, and 750,000
shares Common Stock reserved for issuance under its Stock Plan. Stock held by Arch Chemicals, Inc. is 120,048 shares Series A Convertible Preferred Stock (approx. 19.01% of such preferred stock). Holders of Series A Preferred Stock shall have that
number of votes per share as is equal to the number of shares of Common Stock into which each such share of Series A Preferred Stock held by such holder could be converted on the date for determination of stockholders entitled to vote at the meeting
or on the date of any written consent. Now that the company is in bankruptcy proceedings, we do not know who the other current shareholders are, but the last known other shareholders were as listed in the chart above. 

	15.	Has Branch Office in Denmark under the name of “Arch Timber Protection, dansk filial af Hickson Limited England”. 

	16.	Alias: “Arch Quimetal”. 

  
 Schedule 5.4

 Page 8 

 Schedule 5.15 
 Existing Indebtedness at June 30, 2009 
  

									
	 Obligor
	  	 Obligee
	  	Principal
Amount
(in thousands)	  	 Collateral

(in thousands)
	  	 Guaranty

	 Arch Chemicals, Inc.
	  	Term Facility lenders	  	USD100,000	  	none	  	none
					
	 Arch Chemicals, Inc.
	  	Revolving Facility lenders	  	USD160,000	  	none	  	none
					
	 Arch Chemicals, Inc.
	  	Various letters of credit issuing banks	  	USD27,387	  	USD2,231
deposit	  	none
					
	 Arch Chemicals, Inc.
	  	GE, DE Lage, MSA	  	USD44	  	USD44 capital
lease with lien
on the leased
equipment	  	none
					
	Arch Water Products South Africa (Proprietary) Limited	  	Nedbank	  	ZAR57,139	  	none	  	Letter of guarantee from Arch Chemicals, Inc.
					
	Arch Water Products South Africa (Proprietary) Limited	  	Nedbank as letter of credit issuing bank	  	ZAR570	  	none	  	Letter of guarantee from Arch Chemicals, Inc.
					
	Arch Chemicals (China) Co., Ltd.	  	CITIC Bank	  	RMB20,000	  	none	  	none
					
	 Arch Chemicals (China) Co., Ltd.
	  	CITIC Bank as letter of credit issuing bank	  	RMB2,063	  	none	  	none
					
	 Arch Quimica Brazil Ltda.
	  	various commercial banks	  	BRL5,665	  	BRL508 capital
lease with lien
on the leased
equipment	  	none
					
	 Arch Quimica Brazil Ltda.
	  	HSBC as letter of guaranty issuing bank	  	BRL5,030	  	none	  	none
					
	 Arch Wood Protection (Aust) Pty Limited
	  	Westpac	  	AUD2,078	  	Equitable
mortgage by
Arch Wood
Protection (NZ)
Limited	  	Interlocking guarantee of debt and interest by Arch International Pty Limited, Arch Investments Holdings Pty Limited, Arch Wood Protection
(Aust) Pty Limited, and Arch Wood Protection (NZ) Limited
	 Arch Wood Protection (Aust) Pty Limited
	  	Westpac as letter of credit issuing bank	  	AUD25	  	  
	 Arch Wood Protection (NZ) Limited
	  	Westpac	  	NZD2,202	  	  
	 Arch Wood Protection (NZ) Limited
	  	Westpac as letter of credit issuing bank	  	NZD350	  	  
	 Arch International Pty Limited
	  	Westpac	  	AUD3,300	  	  
	 Arch Investments Holdings Pty Limited
	  	Westpac	  	AUD3,000	  	  
					
	 Arch Chemicals Japan, Inc.
	  	Mizuho Bank	  	JPY100,000	  	none	  	none
					
	 Arch Quimica Argentina S.R.L.
	  	HSBC	  	ARS500	  	none	  	Letter of guarantee from Arch Chemicals, Inc.
					
	 Arch Quimica Colombia S.A.
	  	HSBC, Bancolombia	  	COP742	  	none	  	Letter of guarantee from Arch Chemicals, Inc.
					
	 Arch Water Products France SAS
	  	Comp. Europeenne Immobilieres as letters of credit issuer	  	EUR982	  	none	  	none
					
	 Arch Chemicals, Limited
	  	HSBC and RBS as letters of credit issuing banks	  	GBP358	  	none	  	none
					
	 Arch UK Biocides Limited
	  	JPM Chase as letters of credit issuing bank	  	GBP100	  	none	  	none

  
 Schedule 5.15

 Page 1 

													
	 Obligor
	  	 Obligee
	  	 	  	Principal
Amount
(in 
thousands)	 	 	  	 Collateral

(in thousands)
	  	 Guaranty

	 Arch Timber Protection Limited
	  	HSBC as letters of credit issuing bank	  		  	GBP369	 		  	none	  	none
							
	 Arch Timber Protection Limited
	  	Norske Bank as letters of credit issuing bank	  		  	NOK600	 		  	none	  	none
							
	 Arch Chemicals S.R.L.
	  	Compagnia Italiana Rischi Aziende SPA as letter of guaranty issuer	  		  	EUR242	 		  	none	  	none
							
	 Arch Chemicals S.R.L.
	  	Various insurance companies as letters of guaranty issuer	  		  	EUR1,995*	 		  	none	  	none
							
	 Arch Chemicals BV
	  	Ulster Bank	  		  	USD35	 		  	none	  	none
							
	 Arch Coatings Espana S.L.
	  	Banco Santander	  		  	EUR11	 		  	none	  	none

 *The expiration date for these guaranties related to VAT
refunds has passed, but formal acknowledgement from the VAT authorities has not been received. 

  
 Schedule 5.15

 Page 2 

  

									
	Miscellaneous Surety Bonds
					
	 Obligor
	  	 Obligee
	  	Surety	  	Principal
Amount	  	Collateral
	 Arch Chemicals, Inc.
	  	California Contractor’s State License Board	  	RLI Insurance
Company	  	USD12,500	  	none
					
	 Arch Chemicals, Inc.
	  	California Contractor’s State License Board	  	RLI Insurance
Company	  	USD12,500	  	none
					
	 Arch Chemicals, Inc.
	  	Canada Customs and Revenue Agency	  	RLI Insurance
Company	  	CAD306,056	  	none
					
	 Arch Chemicals, Inc and Arch Wood Protection, Inc.

(co-principals)
	  	Department of the Treasury – US Customs Service	  	RLI Insurance
Company	  	USD1,400,000	  	none
					
	Arch Chemicals, Inc. and Arch Wood Protection, Inc. (co-principals)	  	Department of the Treasury – US Customs Service	  	RLI Insurance
Company	  	USD50,000	  	none
					
	 Arch Chemicals, Inc.
	  	State of Nevada	  	Safeco Insurance
Companies	  	USD125	  	none
					
	 Arch Chemicals, Inc.
	  	Department of the Treasury – US Customs Service	  	RLI Insurance
Company	  	USD500,000	  	none
					
	 Arch Chemicals, Inc.
	  	Borough of South Plainfield, NJ	  	RLI Insurance
Company	  	USD2,280	  	none
					
	Arch Wood Protection, Inc.	  	Canada Border Services Agency	  	RLI Insurance
Company	  	CAD25,000	  	none
					
	 Arch Chemicals, Inc.
	  	Various states and toll authorities	  	CNA Insurance
Group	  	USD20,500	  	none

  
 Schedule 5.15

 Page 3 

 Schedule 10.5 
 Existing Liens at June 30, 2009 
  

					
	 	  	Amount
(in 
000’s)	 
	 Liens in connection with the Louisiana IDB
	  	 	USD 1,000	  
	 Liens on property or assets of Arch Wood Protection (NZ) Limited
	  	 	AUD 9,000	  
	 Liens on property or assets of Arch Quimica Brasil Ltda.
	  	 	BRL 508	  
	 Liens on property related to capital leases of Arch Chemicals, Inc.
	  	 	USD 44	  

  
 Schedule 10.5

 Page 1Amended and Restated Receivables Sale Agreement

 EXHIBIT 10.1 

EXECUTION COPY 
 AMENDED AND RESTATED 
 RECEIVABLES SALE AGREEMENT 

DATED AS OF OCTOBER 6, 2009 
 among 
 ARCH CHEMICALS, INC., 

as an Originator, 

ARCH TREATMENT TECHNOLOGIES, INC. 
 as an Originator, 
 ARCH WOOD PROTECTION, INC., 

as an Originator, 

ARCH PERSONAL CARE PRODUCTS, L.P., 
 as an Originator, 
 and 

ARCH CHEMICALS RECEIVABLES CORP., 
 as Buyer 

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
	Article I Amounts and Terms of the Purchase	  	 	4	  
	 Section 1.1
	  	Initial Contribution of Receivables	  	 	4	  
	 Section 1.2
	  	Purchase of Receivables	  	 	5	  
	 Section 1.3
	  	Payment for the Purchase	  	 	7	  
	 Section 1.4
	  	Purchase Price Credit Adjustments	  	 	8	  
	 Section 1.5
	  	Payments and Computations, Etc.	  	 	8	  
	 Section 1.6
	  	Transfer of Records	  	 	8	  
	 Section 1.7
	  	Characterization	  	 	9	  
	 Section 1.8
	  	Letters of Credit	  	 	9	  
	Article II Representations and Warranties	  	 	10	  
	 Section 2.1
	  	Representations and Warranties of each Originator	  	 	10	  
	Article III Conditions of Purchase	  	 	14	  
	 Section 3.1
	  	Conditions Precedent to Purchase	  	 	14	  
	 Section 3.2
	  	Conditions Precedent to Subsequent Purchases	  	 	15	  
	Article IV Covenants	  	 	15	  
	 Section 4.1
	  	Affirmative Covenants of Originators	  	 	15	  
	 Section 4.2
	  	Negative Covenants of Originators	  	 	20	  
	Article V Termination Events	  	 	22	  
	 Section 5.1
	  	Termination Events	  	 	22	  
	 Section 5.2
	  	Remedies	  	 	24	  
	Article VI Indemnification	  	 	24	  
	 Section 6.1
	  	Indemnities by Originators	  	 	24	  
	 Section 6.2
	  	Other Costs and Expenses	  	 	27	  
	Article VII Miscellaneous	  	 	27	  
	 Section 7.1
	  	Waivers and Amendments	  	 	27	  
	 Section 7.2
	  	Notices	  	 	27	  
	 Section 7.3
	  	Protection of Ownership Interests of Buyer	  	 	27	  
	 Section 7.4
	  	Confidentiality	  	 	29	  
	 Section 7.5
	  	Bankruptcy Petition	  	 	30	  
	 Section 7.6
	  	Limitation of Liability	  	 	30	  
	 Section 7.7
	  	CHOICE OF LAW	  	 	30	  
	 Section 7.8
	  	CONSENT TO JURISDICTION	  	 	30	  
	 Section 7.9
	  	WAIVER OF JURY TRIAL	  	 	31	  
	 Section 7.10
	  	Integration; Binding Effect; Survival of Terms	  	 	31	  
	 Section 7.11
	  	Counterparts; Severability; Section References	  	 	32	  

  
 i 

 Exhibits 
  

			
	 Exhibit I
	  	Definitions
		
	 Exhibit II
	  	Jurisdiction of Organization; Principal Place of Business; Location(s) of Records; Federal Employer Identification Number; Other Names
		
	Exhibit III	  	Lock-Boxes; Collection Accounts; Collection Banks
		
	Exhibit IV	  	Form of Compliance Certificate
		
	Exhibit V	  	Copy of Credit and Collection Policy
		
	Exhibit VI	  	Form of Subordinated Note
		
	Exhibit VII	  	Form of Purchase Report

 Schedules 

 

			
	 Schedule A
	  	List of Documents to Be Delivered to Buyer on or Prior to the Purchase
		
	 Schedule 1.1
	  	Initial Contributed Receivables

  
 ii 

 RECEIVABLES SALE AGREEMENT 

THIS RECEIVABLES SALE AGREEMENT, dated as of October 6, 2009, is by and among ARCH CHEMICALS, INC., a Virginia corporation, ARCH
TREATMENT TECHNOLOGIES, INC., a Virginia corporation, ARCH WOOD PROTECTION, INC., a Delaware corporation, ARCH PERSONAL CARE PRODUCTS, L.P., a New Jersey limited partnership (each, an “Originator” and collectively, the
“Originators”), and ARCH CHEMICALS RECEIVABLES CORP., a Delaware corporation (“Buyer”). Unless defined elsewhere herein, capitalized terms used in this Agreement shall have the meanings assigned to
such terms in Exhibit I hereto (or, if not defined in Exhibit I hereto, the meaning assigned to such term in Exhibit I to the Purchase Agreement). 
 PRELIMINARY STATEMENTS 
 The Originators and the Seller are parties to that
certain Receivables Sale Agreement dated as of June 27, 2005 as amended, supplemented or otherwise modified through the date hereof (the “Existing Agreement”). 

The parties hereto wish to amend and restate the Existing Agreement on the terms set forth herein. 

Each Originator now owns, and from time to time hereafter will own, Receivables. Such Originator wishes to sell and assign to Buyer, and
Buyer wishes to purchase from such Originator, all of such Originator’s right, title and interest in and to such Receivables, together with the Related Security and Collections with respect thereto. 

Each Originator and Buyer intend the transactions contemplated hereby to be true sales of the Receivables from such Originator to Buyer,
providing Buyer with the full benefits of ownership of the Receivables, and the Originators and Buyer do not intend these transactions to be, or for any purpose to be characterized as, loans from Buyer to any Originator. 

Following the purchase of Receivables from the Originators, Buyer will sell the Receivables, the associated Related Security and
Collections pursuant to that certain Amended and Restated Receivables Purchase Agreement dated as of October 6, 2009 (as the same may from time to time hereafter be amended, supplemented, restated or otherwise modified, the “Purchase
Agreement”) among Buyer, Arch Chemicals, Inc. (“Arch Chemicals”), as initial Servicer, Market Street Funding LLC (“Market Street”), PNC Bank, National Association
(“PNC”), as agent and administrator pursuant to the terms of the Purchase Agreement (in such capacity, the “Administrator”) and PNC, as LC Bank (in such capacity, the “LC
Bank”). 

  
 3 

 NOW, THEREFORE, in consideration of the foregoing premises and the mutual agreements herein
contained and other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto agree as follows: 
 Article I 
 Amounts and Terms of the Purchase 

Section 1.1 Initial Contribution of Receivables. 

On June 27, 2005 (the “Initial Cutoff Date”), each Originator contributed, assigned, transferred, set-over
and otherwise conveyed to Buyer, and Buyer accepted from such Originator, Receivables originated by such Originator and existing as of the close of business on the Business Day immediately prior to the Initial Cutoff Date having an aggregate
Outstanding Balance in the amount set forth on Schedule 1.1 (the “Initial Contributed Receivables”), together with all Related Security relating thereto and all Collections thereof. 

Section 1.2 Purchase of Receivables. 

(a) (i) Effective on the Initial Cutoff Date, in consideration for the Purchase Price and upon the terms and subject to
the conditions set forth in the Existing Agreement, each Originator thereby sold, assigned, transferred, set-over and otherwise conveyed to Buyer, without recourse (except to the extent expressly provided therein), and Buyer thereby purchased from
each Originator, all of such Originator’s right, title and interest in and to all Receivables existing as of the close of business on the Initial Cutoff Date (other than the Initial Contributed Receivables) and all Receivables thereafter
arising through and immediately prior to the date hereof, together, in each case, with all Related Security relating thereto and all Collections thereof. In accordance with the preceding sentence, on the Initial Cutoff Date Buyer acquired all of
each Originators’ right, title and interest in and to all Receivables existing as of the Initial Cutoff Date and thereafter arising through and the date immediately prior to the date hereof, together with all Related Security relating thereto
and all Collections thereof. Buyer was obligated to pay the Purchase Price for the Receivables purchased hereunder in accordance with Section 1.3 of the Existing Agreement. 

(ii) Effective on the date hereof, in consideration for the Purchase Price and upon the terms and subject to the
conditions set forth herein, each Originator does hereby sell, assign, transfer, set-over and otherwise convey to Buyer, without recourse (except to the extent expressly provided herein), and Buyer does hereby purchase from each Originator, all of
such Originator’s right, title and interest in and to all Receivables existing as of the close of business on the date hereof and all Receivables thereafter arising through and including the Termination Date, together, in each case, with all
Related Security relating thereto and all Collections thereof. In accordance with the preceding sentence, on the date hereof Buyer shall acquire all of each Originators’ right, title and interest in and to all Receivables existing as of the
date hereof and thereafter arising through and including the Termination Date, together with all Related Security relating thereto and all Collections thereof. Buyer shall be obligated to pay the Purchase Price for the Receivables purchased
hereunder in accordance with Section 1.3. 
 (b) On the Monthly Reporting Date, each Originator shall
(or shall require the Servicer to) deliver to Buyer a report containing substantially the same information as the form of report set forth in Exhibit VII hereto (each such report being herein called a

  
 4 

 
“Purchase Report”) with respect to the Receivables sold by each Originator to Buyer during the Settlement Period then most recently ended. In addition to, and not in
limitation of, the foregoing, in connection with the payment of the Purchase Price for any Receivables purchased hereunder, Buyer may request that each Originator deliver, and each Originator shall deliver, such approvals, opinions, information or
documents as Buyer may reasonably request. 
 (c) It is the intention of the parties hereto that the Purchase of
Receivables made under the Existing Agreement and hereunder shall constitute a sale and/or contribution, which sale and/or contribution, as the case may be, is absolute and irrevocable and provides Buyer with the full benefits of ownership of the
Receivables. Except for the Purchase Price Credits owed pursuant to Section 1.4, the sale of Receivables under the Existing Agreement was made and the Sale of Receivables hereunder is made without recourse to any Originator;
provided, however, that (i) each Originator shall be liable to Buyer for all representations, warranties, covenants and indemnities made by such Originator pursuant to the terms of the Transaction Documents to which such
Originator is a party, and (ii) such sale does not constitute and is not intended to result in an assumption by Buyer or any assignee thereof of any obligation of any Originator or any other Person arising in connection with the Receivables,
the related Contracts and/or other Related Security or any other obligations of any Originator. In view of the intention of the parties hereto that the Purchase of Receivables made under the Existing Agreement and hereunder shall constitute a sale
of such Receivables rather than loans secured thereby, each Originator agrees that it will, on or prior to the date hereof and in accordance with Section 4.1(e)(iii), mark its master data processing system and all accounts receivable
reports generated thereby with a legend reasonably acceptable to Buyer and to the Administrator (as Buyer’s assignee), evidencing that Buyer has purchased such Receivables as provided in this Agreement and to note in its financial statements
that its Receivables have been absolutely transferred to Buyer. Upon the request of Buyer or the Administrator (as Buyer’s assignee), each Originator will execute and file such financing or continuation statements, or amendments thereto or
assignments thereof, and such other instruments or notices, as may be necessary or appropriate to perfect and maintain the perfection of Buyer’s ownership interest in the Receivables and the Related Security and Collections with respect
thereto, or as Buyer or the Administrator (as Buyer’s assignee) may reasonably request; provided, however, that unless and until an Amortization Event or an Unmatured Amortization Event has occurred, none of the Originators shall
be required to take any actions to establish, maintain or perfect the Buyer’s ownership interest in the Related Security other than the filing of financing statements under the UCC of all appropriate jurisdictions. 

Section 1.3 Payment for the Purchase. 

(a) The Purchase Price for the Purchase of Receivables in existence as of the close of business on the Initial Cutoff Date
(other than the Initial Contributed Receivables) was paid in full by Buyer to each Originator on June 27, 2005, and was paid to each Originator in the following manner: 

(i) by delivery of immediately available funds, to the extent of funds on hand to Buyer or made available to Buyer in
connection with its subsequent sale of an interest in such Receivables to Three Pillars Funding, LLC (“TPF”) 

  
 5 

 
under the Receivables Purchase Agreement dated as of June 27, 2005 (as amended, supplemented and modified through the date hereof among Buyer, Servicer, TPF and SunTrust Robinson Humphrey,
Inc. (formerly known as SunTrust Capital Markets), as administrator; provided that a portion of such funds was offset by amounts such Originator agreed to make as capital contributions such that after giving effect thereto, the
Buyer’s Net Worth was not less than the Required Capital Amount, and 
 (ii) the balance, by delivery of the
proceeds of the related subordinated revolving loan from such Originator to Buyer (each, a “Subordinated Loan” and collectively, the “Subordinated Loans”) in an amount not to exceed the lesser of
(A) the remaining unpaid portion of such Purchase Price and (B) the maximum Subordinated Loan that could be borrowed without rendering Buyer’s Net Worth less than the Required Capital Amount. Each Originator is hereby authorized by
Buyer to endorse on the schedule attached to the related Subordinated Note an appropriate notation evidencing the date and amount of each advance thereunder, as well as the date of each payment with respect thereto, provided that the failure to make
such notation shall not affect any obligation of Buyer thereunder. 
 The Purchase Price for each Receivable coming into existence and purchased
by the Buyer after the Initial Cutoff Date shall be due and owing in full by Buyer to the related Originator or its designee on the date each such Receivable came into existence (except that Buyer may, with respect to any such Purchase Price, offset
against such Purchase Price any amounts owed by such Originator to Buyer under the Existing Agreement and hereunder and which have become due but remain unpaid) and shall be paid to such Originator in the manner provided in the following
paragraphs (b), (c) and (d). 
 (b) With respect to any Receivables coming into
existence after the Initial Cutoff Date, on each Settlement Date, Buyer shall pay, to the relevant Originator, the Purchase Price therefor in accordance with Section 1.3(d) and in the following manner: 

first, by delivery of immediately available funds, to the extent of funds available to Buyer from its subsequent sale of
an interest in the Receivables to Market Street under the Purchase Agreement or other cash on hand; 
 second, if
such Originator has requested a Letter of Credit pursuant to Section 1.8, by Buyer’s obtaining and delivering such Letter of Credit; and 
 third, either (i) by delivery of the proceeds of the related Subordinated Loan, provided that the making of any such Subordinated Loan shall be subject to the provisions set forth in
Section 1.3(a)(ii) or (ii) unless such Originator or Buyer has declared the Termination Date to have occurred pursuant to this Agreement, by accepting a contribution to its capital in an amount equal to the remaining unpaid balance
of such Purchase Price. 
 Subject to the limitations set forth in Section 1.3(a)(ii), each Originator irrevocably
agrees to advance each related Subordinated Loan requested by Buyer on or prior to the Termination Date. The Subordinated Loans shall be evidenced by, and shall be payable in accordance with the terms and provisions of the related Subordinated Note
and shall be payable solely from funds which Buyer is not required under the Purchase Agreement to set aside for the benefit of, or otherwise pay over to, Market Street. 

  
 6 

 (c) From and after the Termination Date, no Originator shall be obligated to
(but may, at its option): (i) sell Receivables to Buyer, or (ii) contribute Receivables to Buyer’s capital pursuant to clause third of Section 1.3(b) unless, in either case, such Originator reasonably determines that the
Purchase Price therefor will be satisfied with funds available to Buyer from sales of interests in the Receivables pursuant to the Purchase Agreement, Collections, proceeds of Subordinated Loans, other cash on hand or otherwise. 

(d) Although the Purchase Price for each Receivable coming into existence after the Initial Cutoff Date shall be due and
payable in full by Buyer to the related Originator on the date such Receivable came into existence, settlement of the Purchase Price between Buyer and such Originator shall be effected on a monthly basis on Settlement Dates with respect to all
Receivables coming into existence during the same Calculation Period and based on the information contained in the Purchase Report delivered by such Originator for the Calculation Period then most recently ended. Although settlement shall be
effected on Settlement Dates, increases or decreases in the amount owing under the related Subordinated Note made pursuant to Section 1.3 and any contribution of capital by an Originator to Buyer made pursuant to
Section 1.3(b) shall be deemed to have occurred and shall be effective as of the last Business Day of the Calculation Period to which such settlement relates. 
 Section 1.4 Purchase Price Credit Adjustments. 
 If on any day:

 (a) the Outstanding Balance of a Receivable is: 

(i) reduced or cancelled as a result of any defective or rejected goods or services, any cash discount or any other
adjustment or otherwise by any Originator or any Affiliate thereof, or as a result of any governmental or regulatory action, or, 
 (ii) reduced or canceled as a result of a setoff in respect of any claim by the Obligor thereof (whether such claim arises out of the same or a related transaction or an unrelated transaction), or

 (iii) reduced on account of the obligation of any Originator or any Affiliate thereof to pay to the related
Obligor any rebate or refund; or 
 (iv) less than the amount included in calculating the Outstanding Balance for
purposes of any Purchase Report (for any reason other than such Receivable becoming a Defaulted Receivable or payment in full of the entire Outstanding Balance being made on such Receivable); or 

  
 7 

 (b) any of the representations and warranties set forth in
Section 2.1(h), Section 2.1(i), Section 2.1 (j), Section 2.1(r), Section 2.1(s), Section 2.1(t) are not true when made or deemed made with respect to any Receivable, 

then, in such event, Buyer shall be entitled to a credit (each, a “Purchase Price Credit”) against the Purchase Price otherwise
payable hereunder equal to, in the case of clause (a) above, the amount of such reductions relating to such Receivable and, in the case of clause (b) above, the Outstanding Balance of such Receivable (calculated before giving
effect to the applicable reduction or cancellation). If such Purchase Price Credit exceeds the Original Balance of the Receivables coming into existence on any day, then the related Originator shall pay the remaining amount of such Purchase Price
Credit in cash immediately, provided that if the Termination Date has not occurred, such Originator shall be allowed to deduct the remaining amount of such Purchase Price Credit from any indebtedness owed to it under its Subordinated Note.

 Section 1.5 Payments and Computations, Etc.  

All amounts to be paid or deposited by Buyer hereunder shall be paid or deposited in accordance with the terms hereof on the day when due
in immediately available funds to the account of the related Originator designated from time to time by such Originator or as otherwise directed by such Originator. In the event that any payment owed by any Person hereunder becomes due on a day that
is not a Business Day, then such payment shall be made on the next succeeding Business Day. If any Person fails to pay any amount hereunder when due, such Person agrees to pay, on demand, the Default Fee in respect thereof until paid in full;
provided, however, that such Default Fee shall not at any time exceed the maximum rate permitted by applicable law. All computations of interest payable hereunder shall be made on the basis of a year of 360 days for the actual number
of days (including the first but excluding the last day) elapsed. 
 Section 1.6 Transfer of Records.

 (a) In connection with the Purchase of Receivables hereunder, each Originator hereby sells, transfers,
assigns and otherwise conveys to Buyer all of such Originator’s right and title to and interest in the Records relating to all Receivables sold or contributed by it hereunder, without the need for any further documentation in connection with
the Purchase (it being understood and agreed that any Records that are not freely assignable (whether by express provision or by virtue of confidentiality provisions) according to their terms are excluded from such sale, transfer, assignment or
conveyance; provided, that upon reasonable request of the Buyer (or its assigns), the applicable Originator will use its reasonable efforts to obtain consent to the assignment from the relevant counterparty). In connection with such transfer,
each Originator hereby grants to each of Buyer, the Administrator and the Servicer an irrevocable, non-exclusive license to use, without royalty or payment of any kind, all software used by such Originator to account for the Receivables, to the
extent necessary to administer the Receivables, whether such software is owned by such Originator or is owned by others and used by such Originator under license agreements with respect thereto, provided that should the consent of any licensor of
such software be required for the grant of the license described herein, to be effective, the applicable Originator hereby agrees that upon the reasonable request of 

  
 8 

 
Buyer (or Buyer’s assignee), such Originator will use its reasonable efforts to obtain the consent of such third-party licensor. The license granted hereby shall be irrevocable until the
indefeasible payment in full of the Aggregate Unpaids, and shall terminate on the date this Agreement terminates in accordance with its terms. 
 (b) Each Originator (i) shall take such action requested by Buyer and/or the Administrator (as Buyer’s assignee), from time to time hereafter, that may be reasonably necessary or appropriate to
ensure that Buyer and its assigns under the Purchase Agreement have an enforceable ownership interest in the Records relating to the Receivables purchased from the Originators hereunder; provided, however, that the applicable
Originator shall not be required to take any actions with respect to its Records other than those required by Sections 1.6(a) and 4.1(e) hereto unless and until an Unmatured Amortization Event has occurred, and (ii) shall use its
reasonable efforts to ensure that Buyer, the Administrator and the Servicer each has an enforceable right (whether by license or sublicense or otherwise) to use all of the computer software used to account for the Receivables and/or to recreate such
Records. 
 Section 1.7 Characterization. 

If, notwithstanding the intention of the parties expressed in Section 1.2(c), any sale or contribution by any Originator to
Buyer of Receivables hereunder shall be characterized as a secured loan and not a sale or contribution or such sale or contribution, as the case may be, shall for any reason be ineffective or unenforceable, then this Agreement shall be deemed to
constitute a security agreement under the UCC and other applicable law. For this purpose and without being in derogation of the parties’ intention that the sale of Receivables hereunder shall constitute a true sale thereof, each Originator
hereby grants to Buyer a security interest in all of such Originator’s right, title and interest, whether now owned or hereafter acquired, in, to and under all Receivables now existing and hereafter arising, all Collections and Related Security
with respect thereto, each Lock-Box and Collection Account, all other rights and payments relating to the Receivables and all proceeds of the foregoing to secure the prompt and complete payment of a loan deemed to have been made in an amount equal
to the Purchase Price of the Receivables together with all other obligations of such Originator hereunder, which security interest shall be prior to all other Adverse Claims thereto. Buyer and its assigns shall have, in addition to the rights and
remedies which they may have under this Agreement, all other rights and remedies provided to a secured creditor under the UCC and other applicable law, which rights and remedies shall be cumulative. 

Section 1.8 Letters of Credit. 

(a) Upon the request of any Originator and in accordance with Section 1.3, and subject to the terms and conditions
for issuing Letters of Credit under the Purchase Agreement (including any limitations therein on the amount of any such issuance), the Buyer agrees to cause the LC Bank to issue, on any Business Day specified by such Originator, Letters of Credit on
behalf of the Buyer (and, if applicable, on behalf of, or for the account of, any Originator in favor of such beneficiaries as such Originator may elect). The aggregate stated amount of the Letters of Credit being issued on any Business Day shall
constitute a credit against the aggregate Purchase Price otherwise payable by the Buyer on such Business Day pursuant to Section 1.3. To the extent that the aggregate stated amount of the Letters of Credit being issued on any Business Day
exceeds the aggregate Purchase Price payable by the Buyer on such 

  
 9 

 
Business Day, such excess shall be deemed to be a reduction in the outstanding principal balance of (and, to the extent necessary, the accrued but unpaid interest on) the applicable Subordinated
Note. The aggregate stated amount of Letters of Credit to be issued to any Originator on any Business Day cannot exceed the sum of the aggregate Purchase Price payable on such Business Day to such Originator plus the aggregate outstanding principal
balance of and accrued but unpaid interest on the Subordinated Note related to such Originator on such Business Day. In the event that any Letter of Credit issued (i) expires or is cancelled or otherwise terminated with all or any portion of
its stated amount undrawn, (ii) has its stated amount decreased (for a reason other than a drawing having been made thereunder) or (iii) the Buyer’s Reimbursement Obligation in respect thereof is reduced for any reason other than by
virtue of a payment made in respect of a drawing thereunder, then an amount equal to such undrawn amount or such reduction, as the case may be, shall be paid (i) in cash to such Originator on the next Business Day and (ii) by adding such
amount not paid in cash pursuant to subclause (i) above to the outstanding principal amount of the Subordinated Note issued to such Originator. 
 (b) In the event that any Originator requests a Letter of Credit hereunder, such Originator shall on a timely basis provide the Buyer with such information as is necessary for the Buyer to obtain such
Letter of Credit from the LC Bank. 
 (c) Each Originator agrees to be bound by the terms of each Letter of
Credit Application referenced in the Purchase Agreement and by the LC Bank’s interpretations of any Letter of Credit issued for the Buyer and by the LC Bank’s written regulations and customary practices relating to letters of credit.

 Article II 
 Representations and Warranties 
 Section 2.1 Representations and
Warranties of each Originator. 
 Each Originator with respect to itself, hereby represents and warrants to Buyer on the
date hereof, on the date of the Purchase and on each date that any Receivable comes into existence that: 
 (a)
Existence and Power. Such Originator’s jurisdiction of organization is correctly set forth in Exhibit II to this Agreement and such jurisdiction is its sole jurisdiction of organization. Such Originator is duly organized under the
laws of its jurisdiction of organization and is a “registered organization” as defined in the UCC in effect in such jurisdiction. Such Originator is validly existing and in good standing under the laws of its jurisdiction of organization,
and no other state or jurisdiction, and as to which such state or jurisdiction must maintain a public record showing the organization to have been organized. Such Originator is qualified to do business and is in good standing as a foreign entity,
and has and holds all corporate power and all governmental licenses, authorizations, consents and approvals required to carry on its business in each jurisdiction in which its business is conducted except where the failure to so qualify or so hold
could not reasonably be expected to have a Material Adverse Effect. 

  
 10 

 (b) Power and Authority; Due Authorization, Execution and Delivery.
The execution and delivery by such Originator of this Agreement and each other Transaction Document to which it is a party, and the performance of its obligations hereunder and thereunder and, such Originator’s use of the proceeds of the
Purchase made hereunder, are within its organizational powers and authority and have been duly authorized by all necessary organizational action on its part. This Agreement and each other Transaction Document to which such Originator is a party has
been duly executed and delivered by such Originator. 
 (c) No Conflict. The execution and delivery by
such Originator of this Agreement and each other Transaction Document to which it is a party, and the performance of its obligations hereunder and thereunder do not contravene or violate (i) its Organizational Documents, (ii) any law, rule
or regulation applicable to it, (iii) any restrictions under any agreement, contract or instrument to which it is a party or by which it or any of its property is bound, or (iv) any order, writ, judgment, award, injunction or decree
binding on or affecting it or its property, and do not result in the creation or imposition of any Adverse Claim on assets of such Originator or its Subsidiaries (except as created hereunder) except, in any case, where such contravention or
violation could not reasonably be expected to have a Material Adverse Effect; and no transaction contemplated hereby requires compliance with any bulk sales act or similar law. 

(d) Governmental Authorization. Other than the filing of the financing statements required hereunder, no
authorization or approval or other action by, and no notice to or filing with, any governmental authority or regulatory body is required for the due execution and delivery by such Originator of this Agreement and each other Transaction Document to
which it is a party and the performance of its obligations hereunder and thereunder. 
 (e) Actions,
Suits. There are no actions, suits or proceedings pending, or to the best of such Originator’s knowledge, threatened, against it, or any of its properties, in or before any court, arbitrator or other body, that could reasonably be expected
to have a Material Adverse Effect. Such Originator is not in default with respect to any order of any court, arbitrator or governmental body which default could reasonably be expected to have a Material Adverse Effect. 

(f) Binding Effect. This Agreement and each other Transaction Document to which such Originator is a party
constitute the legal, valid and binding obligations of such Originator enforceable against such Originator in accordance with their respective terms, except as such enforcement may be limited by applicable bankruptcy, insolvency, reorganization or
other similar laws relating to or limiting creditors’ rights generally and by general principles of equity (regardless of whether enforcement is sought in a proceeding in equity or at law). 

(g) Accuracy of Information. All information (other than any projection or other forward-looking information)
heretofore furnished by such Originator or any of its Affiliates to Buyer (or its assigns) for purposes of or in connection with this Agreement, 

  
 11 

 
any of the other Transaction Documents or any transaction contemplated hereby or thereby is, and all such information (other than any projection or other forward-looking information) hereafter
furnished by such Originator or any of its Affiliates to Buyer (or its assigns) will be, true and accurate in every material respect on the date such information is stated or certified and does not and will not contain any material misstatement of
fact. 
 (h) Use of Proceeds. No portion of any Purchase Price payment hereunder will be used by such
Originator (i) for a purpose that violates, or would be inconsistent with, any law, rule or regulation applicable to such Originator or (ii) to acquire any security in any transaction which is subject to Section 12, 13 or 14 of the
Securities Exchange Act of 1934, as amended other than the repurchase of equity securities of Arch Chemicals so long as such repurchase does not violate Sections 12, 13 or 14 of the Securities Exchange Act of 1934, as amended. 

(i) Good Title. Immediately prior to the Purchase hereunder and upon the creation of each Receivable coming into
existence after the Initial Cutoff Date, such Originator (i) is the legal and beneficial owner of the Receivables created by it and (ii) is the legal and beneficial owner of the Related Security with respect thereto, free and clear of any
Adverse Claim, except as created by the Transaction Documents. There have been duly filed all financing statements or other similar instruments or documents necessary under the UCC (or any comparable law) of all appropriate jurisdictions to perfect
such Originator’s ownership interest in each Receivable, its Collections, “Supporting Obligations” (as defined in Article 9 of the UCC in effect in each relevant jurisdiction), each Originator’s right, title and interest in, to
and under each of the Transaction Documents to which it is a party, returned goods the sale of which gave rise to any Receivable, security interests in favor of any Originator that secure payment of such Receivable and all other items of Related
Security in which an interest therein may be perfected by the filing of a financing statement under Article 9 of the UCC and proceeds of the foregoing. 
 (j) Perfection. This Agreement, together with the filing of the financing statements contemplated hereby, is effective to transfer to Buyer (and Buyer shall acquire from such Originator)
(i) legal and equitable title to, with the right to sell and encumber each Receivable existing and hereafter arising, together with the Collections with respect thereto, and (ii) all of such Originator’s right, title and interest in
the Related Security associated with each Receivable, in each case, free and clear of any Adverse Claim, except as created by the Transactions Documents. There have been duly filed all financing statements or other similar instruments or documents
necessary under the UCC (or any comparable law) of all appropriate jurisdictions to perfect Buyer’s ownership interest in the Receivables, its Collections, “Supporting Obligations” (as defined in Article 9 of the UCC in effect in each
relevant jurisdiction), each Originator’s right, title and interest in, to and under each of the Transaction Documents to which it is a party, returned goods the sale of which gave rise to any Receivable, security interests in favor of any
Originator that secure payment of such Receivable and all other items of Related Security in which an interest therein may be perfected by the filing of a financing statement under Article 9 of the UCC and proceeds of the foregoing. Such
Originator’s jurisdiction of organization is a jurisdiction whose law generally requires information concerning the existence of a nonpossessory security interest to be made generally available in a filing, record or registration system as a
condition or result of such a security interest’s obtaining priority over the rights of a lien creditor which respect to collateral. 

  
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 (k) Places of Business and Locations of Records. The principal places
of business of such Originator and the offices where it keeps all of its Records are located at the address(es) listed on Exhibit II. Such Originator’s Federal Employer Identification Number is correctly set forth on Exhibit II.

 (l) Collections. The conditions and requirements set forth in subclause (i) of
Section 4.1(i) have at all times since the Initial Cutoff Date, been satisfied and duly performed. The conditions and requirements set forth in subclause (ii) of Section 4.1(i) have been satisfied from and after
the Initial Cutoff Date. The names and addresses of all Collection Banks, together with the account numbers of the Collection Accounts of such Originator at each Collection Bank and the post office box number of each Lock-Box, are listed on
Exhibit III. Such Originator has not granted any Person, other than Buyer (and its assigns) dominion and control of any Lock-Box or Collection Account, or the right to take dominion and control of any such Lock-Box or Collection Account at a
future time or upon the occurrence of a future event. 
 (m) Material Adverse Effect. Since June 30,
2009, no event has occurred that would have a Material Adverse Effect. 
 (n) Names. The name in which
such Originator has executed this Agreement is identical to the name of such Originator as indicated on the public record of its state of organization which shows such Originator to have been organized. In the past five (5) years, such
Originator has not used any corporate names, trade names or assumed names other than the name in which it has executed this Agreement and as listed on Exhibit II. 

(o) Ownership of Buyer. Arch Chemicals owns, directly or indirectly, 100% of the issued and outstanding equity
interests of Buyer, free and clear of any Adverse Claim. Such equity interests are validly issued, fully paid and nonassessable, and there are no options, warrants or other rights to acquire securities of Buyer. 

(p) Not a Holding Company or an Investment Company. Such Originator is not a “holding company” or a
“subsidiary holding company” of a “holding company” within the meaning of the Public Utility Holding Company Act of 1935, as amended, or any successor statute. Such Originator is not an “investment company” within the
meaning of the Investment Company Act of 1940, as amended, or any successor statute. 
 (q) Compliance with
Law. Such Originator has complied in all respects with all applicable laws, rules, regulations, orders, writs, judgments, injunctions, decrees or awards to which it may be subject, except where the failure to so comply could not reasonably be
expected to have a Material Adverse Effect. Each Receivable, together with the Contract related thereto, does not contravene any laws, rules or regulations applicable thereto (including, without limitation, laws, rules and regulations relating to
truth in lending, fair credit billing, fair credit reporting, equal credit opportunity, fair debt collection practices and privacy), and no part of such Contract is in violation of any such law, rule or regulation, except where such contravention or
violation could not reasonably be expected to have a Material Adverse Effect. 

  
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 (r) Compliance with Credit and Collection Policy. Such Originator has
complied in all material respects with the Credit and Collection Policy with regard to each Receivable and the related Contract, and has not made any material change to such Credit and Collection Policy, except such material change as to which Buyer
(or its assigns) has been notified in accordance with Section 4.1(a)(vii). 
 (s) Payments to
Originator. With respect to each Receivable transferred to Buyer hereunder, the Purchase Price received by such Originator constitutes reasonably equivalent value in consideration therefor and such transfer was not made for or on account of an
antecedent debt. No transfer by such Originator of any Receivable hereunder is or may be voidable under any section of the Bankruptcy Reform Act of 1978 (11 U.S.C. §§ 101 et seq.), as amended. 

(t) Enforceability of Contracts. Each Contract with respect to each Receivable is effective to create, and has
created, a legal, valid and binding obligation of the related Obligor to pay the Outstanding Balance of the Receivable created thereunder and any accrued interest thereon, enforceable against the Obligor in accordance with its terms, except as such
enforcement may be limited by applicable bankruptcy, insolvency, reorganization or other similar laws relating to or limiting creditors’ rights generally and by general principles of equity (regardless of whether enforcement is sought in a
proceeding in equity or at law). 
 (u) Eligible Receivables. Each Receivable reflected in any Purchase
Report as an Eligible Receivable was an Eligible Receivable on the date of its acquisition by Buyer hereunder. 

(v) Accounting. The manner in which such Originator accounts for the transactions contemplated by this Agreement
does not jeopardize the characterization of the transactions contemplated herein as being true sales. 
 (w)
Contract Provisions. Except for customary adjustments in the ordinary course of business, no Contract with respect to any Receivable contains provisions that either (i) permit or provide for any reduction in the Outstanding Balance of
the Receivable created thereunder and any accrued interest thereon or (ii) could otherwise hinder the ability to receive Collections with respect to such Receivable. 
 Article III 
 Conditions of Purchase 

Section 3.1 Conditions Precedent to Purchase. 
 The Purchase on the Initial Cutoff Date under this Agreement is subject to the conditions precedent that (a) Buyer shall have been capitalized with the Initial Contributed Receivables, (b) Buyer
shall have received on or before the Closing Date those documents listed on Schedule A and (c) all of the conditions to the initial purchase under the Purchase Agreement shall have been satisfied or waived in accordance with the terms
thereof. 

  
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 Section 3.2 Conditions Precedent to Subsequent Purchases. 

Each Purchase after the Initial Cutoff Date shall be subject to the further conditions precedent that: (a) the Facility Termination
Date shall not have occurred under the Purchase Agreement; (b) Buyer (or its assigns) shall have received such other approvals, opinions or documents as it may reasonably request and (c) on the date such Receivable came into existence, the
following statements shall be true (and acceptance of the proceeds of any payment for such Receivable shall be deemed a representation and warranty by each Originator that such statements are then true): 

(i) the representations and warranties set forth in Article II are true and correct on and as of the date such
Receivable came into existence as though made on and as of such date, except to the extent such representations and warranties are expressly limited to an earlier date; and 

(ii) no event has occurred and is continuing that will constitute a Termination Event or an Unmatured Termination Event.

 Notwithstanding the foregoing conditions precedent, upon payment of the Purchase Price for any Receivable (whether by payment of cash, by
delivery of a Letter of Credit, through an increase in the amounts outstanding under the related Subordinated Note, by offset of amounts owed to Buyer and/or by offset of capital contributions), title to such Receivable and the Related Security and
Collections with respect thereto shall vest in Buyer, whether or not the conditions precedent to Buyer’s obligation to pay for such Receivable were in fact satisfied. The failure of any Originator to satisfy any of the foregoing conditions
precedent, however, shall give rise to a right of Buyer to rescind the related purchase and direct such Originator to pay to Buyer an amount equal to the Purchase Price payment that shall have been made with respect to any Receivables related
thereto. 
 Article IV 
 Covenants 
 Section 4.1 Affirmative Covenants of
Originators. 
 Until the date on which this Agreement terminates in accordance with its terms, each Originator, with
respect to itself hereby covenants as set forth below: 
 (a) Financial Reporting. Such Originator will
maintain, for itself and each of its Subsidiaries, a system of accounting established and administered in accordance with GAAP, and furnish to Buyer (or its assigns): 

(i) Annual Reporting. Within 90 days after the close of each of its fiscal years, audited, unqualified consolidated
financial statements (which shall include balance sheets, statements of income and retained earnings and a statement of cash flows) for Arch Chemicals and its consolidated Subsidiaries for such fiscal year certified in a manner acceptable to Buyer
(or its assigns) by KPMG LLP, independent public accountants or any other independent public accountants of recognized national standing. 

  
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 (ii) Quarterly Reporting. Within 45 days after the close of the first
three (3) quarterly periods of each of its respective fiscal years, balance sheets of Arch Chemicals and its consolidated Subsidiaries as at the close of each such period and consolidated statements of income and a statement of cash flows for
Arch Chemicals and its Subsidiaries for the period from the beginning of such fiscal year to the end of such quarter, all certified by its chief financial officer, principal accounting officer, treasurer or corporate controller. 

(iii) Compliance Certificate. Together with the financial statements required hereunder, a compliance certificate
in substantially the form of Exhibit IV signed by such Originator’s Authorized Officer and dated the date of such annual financial statement or such quarterly financial statement, as the case may be. 

(iv) Shareholders Statements and Reports. Promptly after becoming publicly available to the shareholders of such
Originator, copies of all financial statements, reports and proxy statements furnished to them. 
 (v) S.E.C.
Filings. Promptly after becoming publicly available, copies of all registration statements and annual, quarterly, monthly or other regular reports which such Originator or any of its Subsidiaries files with the Securities and Exchange
Commission. 
 (vi) Copies of Notices. Promptly upon its receipt of any notice, request for consent,
financial statements, certification, report or other communication under or in connection with any Transaction Document from any Person other than Buyer, the Administrator, Market Street or the LC Bank, copies of the same if such notice, request,
consent, financial statements, certification, report or other communication can reasonably be expected to have an adverse effect on the Receivables, the Related Security or the Buyer’s (or its assigns) rights therein. 

(vii) Change in Credit and Collection Policy. At least thirty (30) days prior to the effectiveness of any
material change in or material amendment to the Credit and Collection Policy, a copy of the Credit and Collection Policy then in effect and a notice (A) indicating such proposed change or amendment, and (B) if such proposed change or
amendment would be reasonably likely to adversely affect the collectibility of the Receivables or decrease the credit quality of any newly created Receivables, requesting Buyer’s (and the Administrator’s, as Buyer’s assignee) consent
thereto. 
 (viii) Other Information. Promptly, from time to time, such other information, documents,
records or reports relating to (i) the financial condition or operations of such Originator as Buyer (or its assigns) may from time to time reasonably request in order to protect the interests of Buyer (and its assigns) under or as contemplated
by this Agreement or (ii) the Receivables as the Buyer (or its assigns) may reasonably request. 

  
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 Information required to be delivered pursuant to paragraphs (i),
(ii), (iv) and (v) of this Section 4.1(a) shall be deemed to have been delivered by the date indicated therein, provided that such information has been filed with the Securities and Exchange
Commission by such date; provided further that the Originator shall deliver paper copies of the statements, reports, financial statements and other information referred to in paragraph (i), (ii), (iv) and
(v) of this Section 4.1(a) to the Buyer promptly upon request following such filing. 

(b) Notices. Such Originator will notify Buyer (or its assigns) in writing of any of the following promptly upon
learning of the occurrence thereof, describing the same and, if applicable, the steps being taken with respect thereto: 
 (i) Termination Events or Unmatured Termination Events. The occurrence of each Termination Event and each Unmatured Termination Event, by a statement of an Authorized Officer of such Originator.

 (ii) Judgment and Proceedings. (A) The entry of any judgment or decree against such Originator or
any of its Subsidiaries if the amount of such judgment or decree then outstanding against such Originator and its Subsidiaries exceeds $10,000,000 after deducting (1) the amount with respect to which such Originator or any such Subsidiary is
insured and with respect to which the insurer has not disclaimed responsibility in writing, and (2) the amount for which such Originator or any such Subsidiary is otherwise indemnified if the terms of such indemnification are satisfactory to
Buyer (or its assigns), and (B) the institution of any litigation, arbitration proceeding or governmental proceeding against such Originator which, individually or in the aggregate, could reasonably be expected to have a Material Adverse
Effect. 
 (iii) Material Adverse Effect. The occurrence of any event or condition that has had, or could
reasonably be expected to have, a Material Adverse Effect. 
 (iv) Defaults Under Other Agreements. The
occurrence of a default that could lead to an event of default or an event of default under any other financing arrangement in a principal amount greater than or equal to $10,000,000 pursuant to which such Originator is a debtor or an obligor.

 (c) Compliance with Laws and Preservation of Existence. Such Originator will comply in all respects
with all applicable laws, rules, regulations, orders, writs, judgments, injunctions, decrees or awards to which it may be subject, except where the failure to so comply could not reasonably be expected to have a Material Adverse Effect. Such
Originator will preserve and maintain its legal existence, rights, franchises and privileges in the jurisdiction of its organization, and qualify and remain qualified in good standing as a foreign entity in each jurisdiction where its business is
conducted, except where the failure to so qualify or remain in good standing could not reasonably be expected to have a Material Adverse Effect. Notwithstanding the preceding sentence, it is expressly understood and agreed that any Originator may
merge or consolidate with, or transfer all or substantially all of its assets to, any other Originator , so long as Buyer (or its assigns) shall have received such approvals, opinions or documents as it may reasonably request. 

  
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 (d) Audits. In addition to information that may be required pursuant
to Section 4.1(a)(viii), each Originator will furnish to Buyer (or its assigns) from time to time such information with respect to it and the Receivables as Buyer (or its assigns) may reasonably request. Each Originator will, from time
to time during regular business hours as requested by Buyer (or its assigns), upon reasonable notice and at the sole cost of such Originator, permit Buyer (or its assigns) or their respective agents or representatives (i) to examine and make
copies of and abstracts from all Records in the possession or under the control of such Originator relating to the Receivables and the Related Security, including, without limitation, the related Contracts (other than any Confidential Contract
(except for any Confidential Contract as to which the related Obligor has consented to such disclosure or which may be disclosed to others who are subject to a confidentiality agreement) as to which the disclosure thereof cannot be satisfied by the
execution and delivery of a confidentiality agreement), and (ii) to visit the offices and properties of such Originator for the purpose of examining such materials described in clause (i) above, and to discuss matters relating to
such Originator’s financial condition or the Receivables and the Related Security or such Originator’s performance under any of the Transaction Documents or such Originator’s performance under the Contracts and, in each case, with any
of the officers or employees of Originator having knowledge of such matters (each of the foregoing examinations and visits, a “Review”); provided, however, that so long as no Termination Event has occurred and
is continuing, (A) such Originator shall only be responsible for the costs and expenses of one (1) Review in any one calendar year, and (B) the Buyer (or its assigns) will not request more than two (2) Reviews in any one calendar
year. 
 (e) Keeping and Marking of Records and Books. 

(i) Such Originator will, maintain and implement administrative and operating procedures (including, without limitation,
an ability to recreate records evidencing Receivables in the event of the destruction of the originals thereof), and keep and maintain all documents, books, records and other information, in each such case as reasonably necessary or advisable for
the collection of all Receivables (including, without limitation, records adequate to permit the immediate identification of each new Receivable and all Collections of and adjustments to each existing Receivable). Such Originator will give Buyer (or
its assigns) notice of any material change in the administrative and operating procedures referred to in the previous sentence. 
 (ii) Such Originator will on or prior to the date hereof, mark its master data processing system and all accounts receivable reports generated thereby with a legend, reasonably acceptable to Buyer (or its
assigns), describing Buyer’s ownership interests in the Receivables and further describing the interests in the Receivables of the Administrator (on behalf of Market Street and the LC Bank and their assigns) under the Purchase Agreement.

  
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 (f) Compliance with Contracts and Credit and Collection Policy. Such
Originator will timely and fully (i) perform and comply in all material respects with all provisions, covenants and other promises required to be observed by it under the Contracts related to the Receivables, in each case to the same extent as
though such Contracts had not been transferred to the Buyer, but only to the extent there would not be an adverse effect upon the Receivables, and (ii) comply in all material respects with the Credit and Collection Policy in regard to each
Receivable and the related Contract. 
 (g) Ownership. Such Originator will take all necessary action to
establish and maintain, irrevocably in Buyer, (A) legal and equitable title to the Receivables and the Collections and (B) all of such Originator’s right, title and interest in the Related Security associated with the Receivables, in
each case, free and clear of any Adverse Claims other than Adverse Claims in favor of Buyer (and its assigns) (including, without limitation, the filing of all financing statements or other similar instruments or documents necessary under the UCC
(or any comparable law) of all appropriate jurisdictions to perfect Buyer’s interest in such Receivables, Related Security and Collections and such other action to perfect, protect or more fully evidence the interest of Buyer as Buyer (or its
assigns) may reasonably request); provided, however, that unless and until an Amortization Event or an Unmatured Amortization Event has occurred, none of the Originators shall be required to take any actions to establish, maintain or
perfect the Buyer’s ownership interest in the Related Security other than the filing of financing statements under the UCC of all appropriate jurisdictions. 

(h) Market Street’s and LC Bank’s Reliance. Such Originator acknowledges that the Administrator, Market
Street and the LC Bank are entering into the transactions contemplated by the Purchase Agreement in reliance upon Buyer’s identity as a legal entity that is separate from such Originator and any Affiliates thereof. Therefore, from and after the
date of execution and delivery of this Agreement, such Originator will take all reasonable steps including, without limitation, all steps that Buyer or any assignee of Buyer may from time to time reasonably request to maintain Buyer’s identity
as a separate legal entity and to make it manifest to third parties that Buyer is an entity with assets and liabilities distinct from those of such Originator and any Affiliates thereof and not just a division of such Originator or any such
Affiliate. Without limiting the generality of the foregoing and in addition to the other covenants set forth herein, such Originator (i) will not hold itself out to third parties as liable for the debts of Buyer nor purport to own the
Receivables and other assets acquired by Buyer, (ii) will take all other actions necessary on its part to ensure that Buyer is at all times in compliance with the “separateness covenants” set forth in Section 7.1(i) of the
Purchase Agreement and (iii) will cause all tax liabilities arising in connection with the transactions contemplated herein or otherwise to be allocated between such Originator and Buyer on an arm’s-length basis and in a manner consistent
with the procedures set forth in U.S. Treasury Regulations §§1.1502-33(d) and 1.1552-1. 
 (i)
Collections. Such Originator will cause (i) all proceeds from all Lock-Boxes to be directly deposited by a Collection Bank into a Collection Account and (ii) each Lock-Box and Collection Account to be subject at all times to a
Collection Account Agreement that is in full force and effect. In the event any payments relating to Receivables are remitted directly to such Originator or any Affiliate of such Originator, such Originator will remit (or will cause all such
payments to be remitted) directly to a 

  
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Collection Bank and deposited into a Collection Account within two (2) Business Days following receipt thereof and, at all times prior to such remittance, such Originator will itself hold
or, if applicable, will cause such payments to be held in trust for the exclusive benefit of Buyer and its assigns. Such Originator will transfer exclusive ownership, dominion and control of each Lock-Box and Collection Account to Buyer and, will
not grant the right to take dominion and control of any Lock-Box or Collection Account at a future time or upon the occurrence of a future event to any Person, except to Buyer (or its assigns) as contemplated by this Agreement and the Purchase
Agreement. 
 (j) Taxes. Such Originator will file all tax returns and reports required by law to be filed
by it and promptly pay all taxes and governmental charges at any time owing, except any such taxes which are not yet delinquent or are being diligently contested in good faith by appropriate proceedings and for which adequate reserves in accordance
with GAAP shall have been set aside on its books. Such Originator will pay when due any taxes payable in connection with the Receivables, exclusive of taxes on or measured by income or gross receipts of Buyer and its assigns. 

Section 4.2 Negative Covenants of Originators. 

Until the date on which this Agreement terminates in accordance with its terms, each Originator, with respect to itself, hereby covenants
that: 
 (a) Change in Name, Jurisdiction of Organization. Such Originator will not change (i) its
name as it appears in official filings in the jurisdiction of its organization, (ii) its status as a “registered organization” (within the meaning of Article 9 of any applicable enactment of the UCC) in such jurisdiction,
(iii) its organizational identification number, if any, issued by its jurisdiction of organization, or (iv) its jurisdiction of organization unless it shall have: (A) given Buyer (or its assigns) at least thirty (30) days’
prior written notice thereof and (B) delivered to Buyer (or its assigns) all financing statements, instruments and other documents requested by Buyer (or its assigns) in connection with such change or relocation. 

(b) Change in Payment Instructions to Obligors. Such Originator will not add or terminate any bank as a Collection
Bank, or make any change in the instructions to Obligors regarding payments to be made to any Lock-Box or Collection Account, unless Buyer (or its assigns) shall have received, at least ten (10) days before the proposed effective date therefor,
(i) written notice of such addition, termination or change and (ii) with respect to the addition of a Collection Bank or a Collection Account or Lock-Box, an executed Collection Account Agreement with respect to the new Collection Account
or Lock-Box; provided, however, that such Originator may make changes in instructions to Obligors regarding payments if such new instructions require such Obligor to make payments to another existing Collection Account. 

(c) Modifications to Contracts and Credit and Collection Policy. Such Originator will not make any material change
or material amendment to the Credit and Collection Policy unless, at least 30 days prior to such material change or material amendment, it has delivered to the Buyer (or its assigns) a copy of the Credit and Collection Policy then in effect and
notice (i) indicating such proposed change or 

  
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amendment, and (ii) if such proposed change would be reasonably likely to adversely affect the collectibility of the Receivables or decrease the credit quality of any newly created
Receivables, requesting Buyer’s (and the Administrator’s, as Buyer’s assignee) consent thereto. Except as otherwise permitted in its capacity as Servicer pursuant to the Purchase Agreement, Originator will not extend, amend or
otherwise modify the terms of any Receivable or Contract related thereto other than in accordance with the Credit and Collection Policy. 
 (d) Sales, Liens. Such Originator will not sell, assign (by operation of law or otherwise) or otherwise dispose of, or grant any option with respect to, or create or suffer to exist any Adverse
Claim upon (including, without limitation, the filing of any financing statement) or with respect to, any Receivable, Related Security or Collections, or upon or with respect to any Contract under which any Receivable arises, or any Lock-Box or
Collection Account, or assign any right to receive income with respect thereto (other than, in each case, (i) the creation of the interests therein in favor of Buyer (and its assigns) provided for herein or in any other Transaction Document and
(ii) in connection with any transaction permitted by Section 4.1(c)), and such Originator will defend the right, title and interest of Buyer in, to and under any of the foregoing property, against all claims of third parties
claiming through or under such Originator. Such Originator shall not create or suffer to exist any mortgage, pledge, security interest, encumbrance, lien, charge or other similar arrangement on any of its inventory the sale of which gives rise to
any Receivable. 
 (e) Accounting for Purchase. Such Originator will not, and will not permit any
Affiliate to, account for the transactions contemplated hereby in any manner other than the sale or capital contributions of the Receivables and the Related Security by such Originator to Buyer or in any other respect account for or treat the
transactions contemplated hereby in any manner other than as a sale or contribution of the Receivables and the Related Security by such Originator to Buyer except (i) to the extent that such transactions are not recognized on account of
consolidated financial reporting in accordance with generally accepted accounting principles and (ii) in accordance with applicable tax principles, each Purchase and contribution is ignored for tax reporting purposes. 

(f) Contract Provisions. Except for customary adjustments in the ordinary course of business, such Originator will
not permit any Contract with respect to any Receivable to contain provisions that either (i) permit or provide for any reduction in the Outstanding Balance of the Receivable created thereunder and any accrued interest thereon or (ii) could
otherwise hinder the ability to receive Collections with respect to such Receivable. 

  
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 Article V 
 Termination Events 
 Section 5.1 Termination Events.

 The occurrence of any one or more of the following events shall constitute a Termination Event: 

(a) Any Originator shall fail (i) to make any payment or deposit required hereunder when due and such failure shall
continue for three (3) consecutive Business Days, or (ii) to perform or observe any term, covenant or agreement hereunder (other than as referred to in clause (i) of this paragraph (a)) or any other Transaction Document
to which it is a party and such failure shall continue for ten (10) consecutive Business Days. 
 (b) (i)
Any representation or warranty made by any of the Originators in this Agreement or the Receivables Purchase Agreement shall prove to have been incorrect in any respect when made or deemed made, (ii) any information contained in any Monthly
Report shall prove to have been incorrect in any respect when made, or (iii) any representation, warranty, certification or statement (other than relating to projections or other forward-looking information) made by any of the Originators in
any other Transaction Document or in any other document delivered pursuant hereto or thereto (other than in a Monthly Report) shall prove to have been incorrect in any material respect when made or deemed made; provided that no such event
shall constitute a Termination Event unless such event is unremedied for a period of ten (10) Business Days after the earlier to occur of (i) written notice thereof shall have been given by the Buyer (or its assigns) to the applicable
Originator or (ii) an Authorized Officer of such Originator shall have actual knowledge thereof or should have had knowledge thereof if such Authorized Officer had exercised reasonable care in the performance of his or her duties;
provided, further that no grace period shall apply to Sections 2.1(f), 2.1(i), 2.1(j), 2.1(n), 2.1(p) and 2.1(u); and provided, further no such event shall constitute
a Termination Event if the Seller have timely paid to the Administrator the Purchase Price Credit required to be paid as a result of such event in accordance with Section 1.4. 

(c) Failure of any Originator to pay any Indebtedness when due in excess of $10,000,000 (after giving effect to any
applicable grace periods); or the default by any Originator in the performance of any term, provision or condition contained in any agreement under which any such Indebtedness was created or is governed, the effect of which is to cause, or to permit
the holder or holders of such Indebtedness to cause, such Indebtedness to become due prior to its stated maturity; or any such Indebtedness of any Originator shall be declared to be due and payable or required to be prepaid (other than by a
regularly scheduled payment) prior to the date of maturity thereof. 
 (d) an Event of Bankruptcy shall occur
with respect to any Originator or any of its Subsidiaries. 
 (e) A Change of Control shall occur. 

  
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 (f) One or more final judgments of a court of competent jurisdiction for the
payment of money in an amount in excess of $10,000,000, individually or in the aggregate, shall be entered against any Originator or any of its Subsidiaries on claims not covered by insurance or as to which the insurance carrier has denied its
responsibility, and such judgment shall continue unsatisfied and in effect for sixty (60) consecutive days without a stay of execution. 
 (g) This Agreement shall terminate in whole or in part (except in accordance with its terms), or shall cease to be effective or to be the legally valid, binding and enforceable obligation of any
Originator, or any Originator shall directly or indirectly contest in any manner such effectiveness, validity, binding nature or enforceability, or Buyer (or its assigns) shall cease to have a valid and perfected first priority security interest in
the Receivables, its Collections, “Supporting Obligations” (as defined in Article 9 of the UCC in effect in each relevant jurisdiction), each Originator’s right, title and interest in, to and under each of the Transaction Documents to
which it is a party, returned goods the sale of which gave rise to any Receivable, security interests in favor of any Originator that secure payment of such Receivable and all other items of Related Security in which an interest therein may be
perfected by the filing of financing statements under Article 9 of the UCC and proceeds of the foregoing, or any Person shall contest the Buyer’s perfected first priority ownership interest in that portion of the Related Security in which
perfection cannot be accomplished under Article 9 of the relevant UCC, or the Buyer (or its assigns) shall incur any loss resulting from any Originator’s failure to perfect Buyer’s ownership interest in that portion of the Related Security
in which perfection cannot be accomplished under Article 9 of the relevant UCC. 
 (h) The Internal Revenue
Service shall file notice of a lien pursuant to Section 6323 of the Tax Code with regard to any of the Receivables or the Related Security or the PBGC shall file notice of a lien pursuant to Section 4068 of ERISA with regard to any of the
Receivables or the Related Security and any such lien shall not have been released within the earlier to occur of (i) seven (7) days after the date of such filing and (ii) the day on which the Buyer (or any of its assigns) becomes
aware of such filing. 
 (i) Any Plan of any Originator or any of its ERISA Affiliates: 

(i) shall fail to be funded in accordance with the minimum funding standard required by applicable law, the terms of such
Plan, Section 412 of the Tax Code or Section 302 of ERISA for any plan year or a waiver of such standard is sought or granted with respect to such Plan under applicable law, the terms of such Plan or Section 412 of the Tax Code or
Section 303 of ERISA; or 
 (ii) is being, or has been, terminated or the subject of termination proceedings
under applicable law or the terms of such Plan; or 
 (iii) shall require any Originator or any of its ERISA
Affiliates to provide security under applicable law, the terms of such Plan, Section 401 or 412 of the Tax Code or Section 306 or 307 of ERISA; or 

  
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 (iv) results in a liability to any Originator or any of its ERISA Affiliates
under applicable law, the terms of such Plan, or Title IV ERISA, 
 and there shall result from any such failure, waiver, termination or other
event a liability to the PBGC or a Plan that would have a Material Adverse Effect. 
 (j) Any other event shall
occur which has, or could be reasonably expected to have a Material Adverse Effect. 
 Section 5.2 Remedies.

 Upon the occurrence and during the continuation of a Termination Event, Buyer may take any of the following actions:
(a) declare the Termination Date to have occurred, whereupon the Termination Date shall forthwith occur, without demand, protest or further notice of any kind, all of which are hereby expressly waived by each Originator; provided,
however, that upon the occurrence of a Termination Event described in Section 5.1(d), or of an actual or deemed entry of an order for relief with respect to any Originator under the Federal Bankruptcy Code, the Termination Date
shall automatically occur, without demand, protest or any notice of any kind, all of which are hereby expressly waived by each Originator and (b) to the fullest extent permitted by applicable law, declare that the Default Fee shall accrue with
respect to any amounts then due and owing by each Originator to Buyer. The aforementioned rights and remedies shall be without limitation and shall be in addition to all other rights and remedies of Buyer and its assigns otherwise available under
any other provision of this Agreement, by operation of law, at equity or otherwise, all of which are hereby expressly preserved, including, without limitation, all rights and remedies provided under the UCC, all of which rights shall be cumulative.

 Article VI 
 Indemnification 
 Section 6.1 Indemnities by Originators.

 Without limiting any other rights that Buyer may have hereunder or under applicable law, each Originator hereby agrees to
indemnify (and pay upon demand to) Buyer and its assigns, officers, directors, agents and employees (each an “Indemnified Party”) from and against any and all damages, losses, claims, taxes, liabilities, costs, expenses and
for all other amounts payable, including reasonable attorneys’ fees and disbursements (all of the foregoing being collectively referred to as “Indemnified Amounts”) awarded against or incurred by any of them arising out
of or as a result of this Agreement or the acquisition, either directly or indirectly, by Buyer of an interest in the Receivables, excluding, however: 
 (a) Indemnified Amounts to the extent a final judgment of a court of competent jurisdiction holds that such Indemnified Amounts resulted from gross negligence or willful misconduct on the part of the
Indemnified Party seeking indemnification; 

  
 24 

 (b) Indemnified Amounts to the extent the same includes losses in respect of
Receivables that are uncollectible on account of the insolvency, bankruptcy or lack of creditworthiness of the related Obligor; or 
 (c) taxes imposed by the United States, the Indemnified Party’s jurisdiction of organization (or in the case of an individual, primary resident) or any other jurisdiction in which such Indemnified
Party has established a taxable nexus other than in connection with the transaction contemplated hereby, on or measured by the overall net income of such Indemnified Party to the extent that the computation of such taxes is consistent with the
characterization for income tax purposes of the acquisition by Market Street or the LC Bank of Receivables under the Purchase Agreement as a loan or loans by Market Street or the LC Bank to Buyer secured by, among other things, the Receivables, the
Related Security and the Collections; 
 provided, however, that nothing contained in this sentence shall limit the liability of
any Originator or limit the recourse of Buyer to any Originator for amounts otherwise specifically provided to be paid by such Originator under the terms of this Agreement. Without limiting the generality of the foregoing indemnification, but
subject in each case to clauses (a), (b) and (c) above, an Originator shall indemnify Buyer for Indemnified Amounts relating to or resulting from: 

(i) any representation or warranty made by such Originator (or any officers of such Originator) under or in connection
with any Purchase Report, this Agreement, any other Transaction Document or any other information or report delivered by such Originator pursuant hereto or thereto for which Buyer has not received a Purchase Price Credit that shall have been false
or incorrect when made or deemed made; 
 (ii) the failure by such Originator, to comply with any applicable law,
rule or regulation with respect to any Receivable or Contract related thereto, or the nonconformity of any Receivable or Contract included therein with any such applicable law, rule or regulation or any failure of such Originator to keep or perform
any of its obligations, express or implied, with respect to any Contract; 
 (iii) any failure of such Originator
to perform its duties, covenants or other obligations in accordance with the provisions of this Agreement or any other Transaction Document; 
 (iv) any products liability, personal injury or damage, suit or other similar claim arising out of or in connection with merchandise, insurance or services that are the subject of any Contract or any
Receivable; 
 (v) any dispute, claim, offset or defense (other than discharge in bankruptcy of the Obligor) of
the Obligor to the payment of any Receivable (including, without limitation, a defense based on such Receivable or the related Contract not being a legal, valid and binding obligation of such Obligor enforceable against it in accordance with its
terms), or any other claim resulting from the sale of the merchandise or service related to such Receivable or the furnishing or failure to furnish such merchandise or services; 

  
 25 

 (vi) the commingling of Collections of Receivables at any time with other
funds; 
 (vii) any investigation, litigation or proceeding related to or arising from this Agreement or any
other Transaction Document, the transactions contemplated hereby, the use of the proceeds of the Purchase hereunder, the ownership of the Receivables or any other investigation, litigation or proceeding relating to such Originator in which any
Indemnified Party becomes involved as a result of any of the transactions contemplated hereby; 
 (viii) any
inability to litigate any claim against any Obligor in respect of any Receivable as a result of such Obligor being immune from civil and commercial law and suit on the grounds of sovereignty or otherwise from any legal action, suit or proceeding;

 (ix) any Termination Event described in Section 5.1(d); 

(x) any failure to vest and maintain vested in Buyer, or to transfer to Buyer, legal and equitable title to, and ownership
of, the Receivables and the Collections, and all of such Originator’s right, title and interest in the Related Security associated with the Receivables, in each case, free and clear of any Adverse Claim except for Adverse Claims in favor of the
Buyer and its assigns; 
 (xi) the failure to have filed, or any delay in filing, financing statements or other
similar instruments or documents under the UCC of any applicable jurisdiction or other applicable laws with respect to any Receivable, the Related Security and Collections with respect thereto, and the proceeds of any thereof, whether at the time of
the Purchase or at any subsequent time; 
 (xii) any action or omission by such Originator which reduces or
impairs the rights of Buyer (or its assigns) with respect to any Receivable or the value of any such Receivable; 

(xiii) any attempt by any Person to void the Purchase hereunder under statutory provisions or common law or equitable
action; and 
 (xiv) the failure of any Receivable reflected as an Eligible Receivable on any Purchase Report to
be an Eligible Receivable at the time acquired by Buyer. 

  
 26 

 Section 6.2 Other Costs and Expenses. 

Each Originator shall pay to Buyer promptly on demand all reasonable costs and out-of-pocket expenses in connection with the preparation,
execution, delivery and administration of this Agreement, the transactions contemplated hereby and the other documents to be delivered hereunder. Each Originator shall pay to Buyer promptly on demand any and all reasonable costs and expenses of
Buyer, if any, including reasonable counsel fees and expenses in connection with the enforcement of this Agreement and the other documents delivered hereunder and in connection with any restructuring or workout of this Agreement or such documents,
or the administration of this Agreement following a Termination Event. 
 Article VII 

Miscellaneous 
 Section 7.1 Waivers and Amendments. 
 (a) No
failure or delay on the part of Buyer (or its assigns) in exercising any power, right or remedy under this Agreement shall operate as a waiver thereof, nor shall any single or partial exercise of any such power, right or remedy preclude any other
further exercise thereof or the exercise of any other power, right or remedy. The rights and remedies herein provided shall be cumulative and nonexclusive of any rights or remedies provided by law. Any waiver of this Agreement shall be effective
only in the specific instance and for the specific purpose for which given. 
 (b) No provision of this Agreement
may be amended, supplemented, modified or waived except in writing signed by each Originator and Buyer and, to the extent required under the Purchase Agreement, the Administrator and the Liquidity Banks or the Required Liquidity Banks. Any material
amendment, supplement, modification of waiver will required satisfaction of the Rating Agency Condition. 
 Section 7.2
Notices. 
 All communications and notices provided for hereunder shall be in writing (including bank wire, telecopy
or electronic facsimile transmission or similar writing) and shall be given to the other parties hereto at their respective addresses or telecopy numbers set forth on the signature pages hereof or at such other address or telecopy number as such
Person may hereafter specify for the purpose of notice to each of the other parties hereto. Each such notice or other communication shall be effective (a) if given by telecopy, upon the receipt thereof, (b) if given by mail, ten
(10) Business Days after the time such communication is deposited in the mail with first class postage prepaid or (c) if given by any other means, when received at the address specified in this Section 7.2. 

Section 7.3 Protection of Ownership Interests of Buyer. 

(a) Each Originator agrees that from time to time, at its expense, it will promptly execute and deliver all instruments
and documents, and take all actions, that may be necessary or desirable, or that Buyer (or its assigns) may request, to perfect, protect or more fully evidence the interest of Buyer hereunder and the interest in the

  
 27 

 
Receivables, or to enable Buyer (or its assigns) to exercise and enforce their rights and remedies hereunder; provided, however, that unless and until an Amortization Event or an
Unmatured Amortization Event has occurred, none of the Originators shall be required to take any actions to establish, maintain or perfect the Buyer’s ownership interest in the Related Security other than the filing of financing statements
under the UCC of all appropriate jurisdictions. During the occurrence and continuance of an Unmatured Amortization or an Amortization Event, Buyer (or its assigns) may, at the related Originator’s sole cost and expense, direct such Originator
to notify the Obligors of Receivables of the ownership interests of Buyer under this Agreement. During the occurrence and continuance of an Unmatured Amortization or an Amortization Event, Buyer (or its assigns) may direct any Originator (and if any
Originator fails to do so) Buyer (or its assigns) may direct that payments of all amounts due or that become due under any or all Receivables be made directly to an account specified by the Buyer or its designee which may be an account of the Buyer
(or its assigns). 
 (b) If any Originator fails to perform any of its obligations hereunder, Buyer (and
Administrator, as Buyer’s assignee) may (but shall not be required to) upon notice to such Originator perform, or cause performance of, such obligations, and Buyer’s (or such assigns’) costs and expenses incurred in connection
therewith shall be payable by such Originator as provided in Section 6.2. Each Originator irrevocably authorizes Buyer (and Administrator, as Buyer’s assignee) at any time and from time to time in the sole discretion of Buyer (or
such assignee), and appoints Buyer (and such assignee) as its attorney(ies)-in-fact, to act on behalf of such Originator (i) to execute (if required) on behalf of such Originator as debtor or seller and to file financing statements necessary or
desirable in Buyer’s (or such assignee’s) sole discretion to perfect and to maintain the perfection and priority of the ownership interest of Buyer in the Receivables and associated Related Security and Collections and (ii) to file a
carbon, photographic or other reproduction of this Agreement or any financing statement with respect to the Receivables as a financing statement in such offices as Buyer (or Administrator, as Buyer’s assignee) in its sole discretion deems
necessary or desirable to perfect and to maintain the perfection and priority of Buyer’s ownership interest in the Receivables. This appointment is coupled with an interest and is irrevocable. (A) Each Originator hereby authorizes Buyer
(and Administrator, as Buyer’s assignee) to file financing statements and other filing or recording documents with respect to the Receivables and Related Security (including any amendments thereto, or continuation or termination statements
thereof), without further authorization of such Originator, in such form and in such offices as Buyer (or such assignee) reasonably determines appropriate to perfect or maintain the perfection of the ownership or security interests of Buyer (and
Administrator, as Buyer’s assignee) hereunder, (B) each Originator acknowledges and agrees that it is not authorized to, and will not, file financing statements or other filing or recording documents with respect to the Receivables or
Related Security (including any amendments thereto, or continuation or termination statements thereof), without the express prior written approval by the Administrator (as Buyer’s assignee), consenting to the form and substance of such filing
or recording document, and (C) each Originator approves, authorizes and ratifies any filings or recordings made by or on behalf of the Administrator (as Buyer’s assignee) in connection with the perfection of the ownership or security
interests in favor of Buyer or the Administrator (as Buyer’s assignee). 

  
 28 

 Section 7.4 Confidentiality. 

(a) Each Originator shall maintain and shall cause each of its employees and officers to maintain the confidentiality of
the Fee Letter and any confidential or proprietary information with respect to Market Street and the LC Bank and Market Street’s and the LC Bank’s business obtained by it or them in connection with the structuring, negotiating and
execution of the transactions contemplated herein, except that such Originator and its officers and employees may disclose such information to such Originator’s directors, external accountants and attorneys and in accordance with any applicable
law, rule, regulation, direction, request or order of any judicial, administrative or regulatory authority or proceedings (whether or not having the force or effect of law). 

(b) Anything herein to the contrary notwithstanding, each Originator hereby consents to the disclosure of any nonpublic
information with respect to it (i) to Buyer, the Administrator, PNC, the LC Bank or Market Street by each other, (ii) by Buyer, the Administrator, PNC, the LC Bank or Market Street to any prospective or actual assignee or participant of
any of them and (iii) by the Administrator to any rating agency, Commercial Paper dealer or provider of a surety, guaranty or credit or liquidity enhancement to Market Street or any entity organized for the purpose of purchasing, or making
loans secured by, financial assets for which PNC or one of its affiliates acts as the administrator and/or agent and to any officers, directors, employees, outside accountants and attorneys of any of the foregoing, provided each such Person
is informed of the confidential nature of such information. In addition, Market Street, PNC, the LC Bank and the Administrator may disclose any such nonpublic information in accordance with any law, rule, regulation, direction, request or order of
any judicial, administrative or regulatory authority or proceedings (whether or not having the force or effect of law). 
 (c) Buyer shall maintain and shall cause each of its employees and officers to maintain the confidentiality of any confidential or proprietary information with respect to each Originator, the Obligors and
their respective businesses obtained by it in connection with the due diligence evaluations, structuring, negotiating and execution of the Transaction Documents, and the consummation of the transactions contemplated herein and any other activities
of Buyer arising from or related to the transactions contemplated herein provided, however, that each of Buyer and its employees and officers shall be permitted to disclose such confidential or proprietary information: (i) to the
Administrator, Market Street, the LC Bank and PNC, (ii) to any prospective or actual assignee or participant who executes a confidentiality agreement for the benefit of any Originator and Buyer on terms comparable to those required of Buyer
hereunder with respect to such disclosed information, (iii) to any rating agency, provider of a surety, guaranty or credit or liquidity enhancement to Market Street, (iv) to any officers, directors, employees, outside accountants and
attorneys of any of the foregoing, and (v) to the extent required pursuant to any applicable law, rule, regulation, direction, request or order of any judicial, administrative or regulatory authority or proceedings with competent jurisdiction
(whether or not having the force or effect of law) so long as such required disclosure is made under seal to the extent permitted by applicable law or by rule of court or other applicable body; provided each such Person is informed of the
confidential nature of such information. 

  
 29 

 Section 7.5 Bankruptcy Petition. 

(a) Each of the Originators and Buyer hereby covenants and agrees that, prior to the date that is one year and one day
after the payment in full of all outstanding senior indebtedness of Market Street, it will not institute against, or join any other Person in instituting against, Market Street any bankruptcy, reorganization, arrangement, insolvency or liquidation
proceedings or other similar proceeding under the laws of the United States or any state of the United States. 

(b) Each of the Originators covenants and agrees that, prior to the date that is one year and one day after the payment in
full of all outstanding obligations of Buyer under the Purchase Agreement, it will not institute against, or join any other Person in instituting against, Buyer any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings or
other similar proceeding under the laws of the United States or any state of the United States. 
 Section 7.6
Limitation of Liability. 
 Except with respect to any claim arising out of the willful misconduct or gross negligence
of Market Street, the Administrator, the LC Bank or any Liquidity Bank, no claim may be made by any Originator or any other Person against Market Street, the Administrator, the LC Bank or any Liquidity Bank or their respective Affiliates, directors,
officers, employees, attorneys or agents for any special, indirect, consequential or punitive damages in respect of any claim for breach of contract or any other theory of liability arising out of or related to the transactions contemplated by this
Agreement, or any act, omission or event occurring in connection therewith; and each Originator hereby waives, releases, and agrees not to sue upon any claim for any such damages, whether or not accrued and whether or not known or suspected to exist
in its favor. 
 Section 7.7 CHOICE OF LAW. 

THIS AGREEMENT SHALL BE GOVERNED AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS (AND NOT THE LAW OF CONFLICTS OTHER THAN SECTION
5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW) OF THE STATE OF NEW YORK. 
 Section 7.8 CONSENT TO JURISDICTION.

 EACH PARTY HERETO HEREBY IRREVOCABLY SUBMITS TO THE NON-EXCLUSIVE JURISDICTION OF ANY UNITED STATES FEDERAL OR NEW YORK
STATE COURT SITTING IN NEW YORK, NEW YORK IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY DOCUMENT EXECUTED BY ORIGINATOR PURSUANT TO THIS AGREEMENT AND EACH PARTY HERETO HEREBY IRREVOCABLY AGREES THAT ALL CLAIMS IN
RESPECT OF SUCH ACTION OR PROCEEDING MAY BE HEARD AND DETERMINED IN ANY SUCH COURT AND IRREVOCABLY WAIVES ANY OBJECTION IT MAY NOW OR HEREAFTER HAVE AS TO THE VENUE OF ANY SUCH SUIT, ACTION OR PROCEEDING BROUGHT IN SUCH A COURT OR THAT SUCH COURT IS
AN INCONVENIENT FORUM. NOTHING HEREIN SHALL LIMIT THE RIGHT OF BUYER 

  
 30 

 
(OR ITS ASSIGNS) TO BRING PROCEEDINGS AGAINST ANY ORIGINATOR IN THE COURTS OF ANY OTHER JURISDICTION. ANY JUDICIAL PROCEEDING BY ANY ORIGINATOR AGAINST BUYER (OR ITS ASSIGNS) OR ANY AFFILIATE
THEREOF INVOLVING, DIRECTLY OR INDIRECTLY, ANY MATTER IN ANY WAY ARISING OUT OF, RELATED TO, OR CONNECTED WITH THIS AGREEMENT OR ANY DOCUMENT EXECUTED BY ANY ORIGINATOR PURSUANT TO THIS AGREEMENT SHALL BE BROUGHT ONLY IN A COURT IN NEW YORK, NEW
YORK. 
 Section 7.9 WAIVER OF JURY TRIAL. 

EACH PARTY HERETO HEREBY WAIVES TRIAL BY JURY IN ANY JUDICIAL PROCEEDING INVOLVING, DIRECTLY OR INDIRECTLY, ANY MATTER (WHETHER SOUNDING
IN TORT, CONTRACT OR OTHERWISE) IN ANY WAY ARISING OUT OF, RELATED TO, OR CONNECTED WITH THIS AGREEMENT, ANY DOCUMENT EXECUTED BY ANY ORIGINATOR PURSUANT TO THIS AGREEMENT OR THE RELATIONSHIP ESTABLISHED HEREUNDER OR THEREUNDER. 

Section 7.10 Integration; Binding Effect; Survival of Terms. 

(a) This Agreement and each other Transaction Document contain the final and complete integration of all prior expressions
by the parties hereto with respect to the subject matter hereof and shall constitute the entire agreement among the parties hereto with respect to the subject matter hereof superseding all prior oral or written understandings. 

(b) This Agreement shall be binding upon and inure to the benefit of each Originator, Buyer and their respective
successors and permitted assigns (including any trustee in bankruptcy). No Originator may assign any of its rights and obligations hereunder or any interest herein without the prior written consent of Buyer. Buyer may assign at any time its rights
and obligations hereunder and interests herein to any other Person without the consent of any Originator. Without limiting the foregoing, each Originator acknowledges that Buyer, pursuant to the Purchase Agreement, may assign to the Administrator,
for the benefit of Market Street and the LC Bank and their assigns, its rights, remedies, powers and privileges hereunder and that the Administrator may further assign such rights, remedies, powers and privileges to the extent permitted in the
Purchase Agreement. Each Originator agrees that the Administrator, as the assignee of Buyer, shall, subject to the terms of the Purchase Agreement, have the right to enforce this Agreement and to exercise directly all of Buyer’s rights and
remedies under this Agreement (including, without limitation, the right to give or withhold any consents or approvals of Buyer to be given or withheld hereunder) and each Originator agrees to cooperate fully with the Administrator in the exercise of
such rights and remedies. This Agreement shall create and constitute the continuing obligations of the parties hereto in accordance with its terms and shall remain in full force and effect until terminated in accordance with its terms;
provided, however, that the rights and remedies with respect to (i) any breach of any representation and warranty made by any Originator pursuant to Article II; (ii) the indemnification and payment provisions of
Article VI; and (iii) Section 7.5 shall be continuing and shall survive any termination of this Agreement. 

  
 31 

 (c) This Agreement amends and restates the Existing Agreement in its
entirety, effective as of the Closing Date, and is not intended to constitute a novation of the obligations thereunder. Nothing contained herein shall terminate any security interests or subordinations previously granted in favor of Three Pillars
Funding LLC (“TPF”) or SunTrust Robinson Humphrey, Inc. (f/k/a SunTrust Capital Markets, “STRH”) in connection with the Existing Agreement and the transactions contemplated thereby; such security interests and subordinations are
being assigned by TPF and STRH to Market Street and the Administrator, as applicable; and such security interest and subordinations shall continue in full force and effect in favor of Market Street, the LC Bank and the Administrator, as applicable,
from and after the Closing Date. 
 Section 7.11 Counterparts; Severability; Section References. 

This Agreement may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when
so executed shall be deemed to be an original and all of which when taken together shall constitute one and the same Agreement. Delivery of an executed counterpart of a signature page by facsimile or other means of electronic transmission shall be
effective as delivery of a manually executed counterpart of this Agreement. Any provisions of this Agreement which are prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition
or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. Unless otherwise
expressly indicated, all references herein to “Article,” “Section,” “Schedule” or “Exhibit” shall mean articles and sections of, and schedules and exhibits to, this Agreement. 

[remainder of page intentionally left blank] 

  
 32 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed and
delivered by their duly authorized officers as of the date hereof. 
  

			
	ARCH CHEMICALS, INC.
		
	By:	 	/s/ W. Paul Bush
	Name:	 	W. Paul Bush
	Title:	 	Treasurer
	
	Address:
	US Mail:
	501 Merritt 7
	P.O. Box 5204
	Norwalk, CT 06856-5204
	
	Hand Delivery:
	501 Merritt 7
	Norwalk, CT 06851
	
	Attention:Corporate Secretary
	Telephone No.: (203) 229-2900
	Facsimile No.: (203) 229-2713

 [additional signatures to follow] 

  
 33 

 
			
	ARCH TREATMENT TECHNOLOGIES, INC.
		
	By:	 	/s/ W. Paul Bush
	Name:	 	W. Paul Bush
	Title:	 	VP and Treasurer
	
	Address:
	US Mail:
	c/o Arch Chemicals, Inc.
	501 Merritt 7
	P.O. Box 5204
	Norwalk, CT 06856-5204
	
	Hand Delivery:
	c/o Arch Chemicals, Inc.
	501 Merritt 7
	Norwalk, CT 06851
	
	Attention:Corporate Secretary
	Telephone No.: (203) 229-2900
	Facsimile No.: (203) 229-2713

 [additional signatures to follow] 

  
 34 

 
			
	ARCH WOOD PROTECTION, INC.
		
	By:	 	/s/ W. Paul Bush
	Name:	 	W. Paul Bush
	Title:	 	Treasurer
	
	Address:
	US Mail:
	c/o Arch Chemicals, Inc.
	501 Merritt 7
	P.O. Box 5204
	Norwalk, CT 06856-5204
	
	Hand Delivery:
	c/o Arch Chemicals, Inc.
	501 Merritt 7
	Norwalk, CT 06851
	
	Attention:Corporate Secretary
	Telephone No.: (203) 229-2900
	Facsimile No.: (203) 229-2713
	
	ARCH PERSONAL CARE PRODUCTS, L.P.
		
	By:	 	Arch PCI, Inc., as general partner
		
	By:	 	/s/ W. Paul Bush
	Name:	 	W. Paul Bush
	Title:	 	Treasurer
	
	Address:
	US Mail:
	c/o Arch Chemicals, Inc.
	501 Merritt 7
	P.O. Box 5204
	Norwalk, CT 06856-5204
	
	Hand Delivery:
	c/o Arch Chemicals, Inc.
	501 Merritt 7
	Norwalk, CT 06851
	
	Attention:Corporate Secretary
	Telephone No.: (203) 229-2900
	Facsimile No.: (203) 229-2713

 [additional signatures to follow] 

  
 35 

 
			
	ARCH CHEMICALS RECEIVABLES CORP.
		
	By:	 	/s/ W. Paul Bush
	Name:	 	W. Paul Bush
	Title:	 	Treasurer
	
	Address:
	US Mail:
	c/o Arch Chemicals, Inc.
	501 Merritt 7
	P.O. Box 5204
	Norwalk, CT 06856-5204
	
	Hand Delivery:
	c/o Arch Chemicals, Inc.
	501 Merritt 7
	Norwalk, CT 06851
	
	Attention:Corporate Secretary
	Telephone No.: (203) 229-3576
	Facsimile No.: (203) 229-3143

 [end of signatures] 

  
 36 

 Exhibit I 
 Definitions 
 This is Exhibit I to the Agreement (as hereinafter defined).
As used in the Agreement and the Exhibits and Schedules thereto, capitalized terms have the meanings set forth in this Exhibit I (such meanings to be equally applicable to the singular and plural forms thereof). If a capitalized term is used in the
Agreement, or any Exhibit or Schedule thereto, and is not otherwise defined therein or in this Exhibit I, such term shall have the meaning assigned thereto in Exhibit I to the Purchase Agreement (hereinafter defined). 

Administrator: As defined in the Preliminary Statements to the Agreement. 
 Agreement: The Amended and Restated Receivables Sale Agreement, dated as of October 6, 2009, between each Originator and Buyer, as the same may be amended, restated or otherwise modified.

 Buyer: As defined in the preamble to the Agreement. 
 Calculation Period: Each calendar month or portion thereof which elapses during the term of the Agreement. The first Calculation Period shall commence on the date of the Purchases hereunder and the
final Calculation Period shall terminate on the Termination Date. 
 Credit and Collection Policy: Each Originator’s credit and
collection policies and practices relating to Contracts and Receivables existing on the date hereof and summarized in Exhibit V, as modified from time to time in accordance with the Agreement. 

Default Fee: A per annum rate of interest equal to the sum of (a) (the Prime Rate, plus (b) 2% per annum. 

Discount Factor: A percentage calculated to provide Buyer with a reasonable return on its investment in the Receivables after taking account of
(a) the time value of money based upon the anticipated dates of collection of the Receivables and the cost to Buyer of financing its investment in the Receivables during such period and (b) the risk of nonpayment by the Obligors.
Originator and Buyer may agree from time to time to change the Discount Factor based on changes in one or more of the items affecting the calculation thereof, provided that any change to the Discount Factor shall take effect as of the commencement
of a Calculation Period, shall apply only prospectively and shall not affect the Purchase Price payment made prior to the Calculation Period during which Originator and Buyer agree to make such change. 

Initial Contributed Receivables: As defined in Section 1.1. 
 Initial Cutoff Date: As defined in Section 1.1. 
 Material Adverse
Effect: A material adverse effect on (a) the financial condition or operations of Arch Chemicals and its Subsidiaries taken as a whole, (b) the ability of any Originator to perform its obligations under the Agreement or any other
Transaction Document, (c) the legality, validity or enforceability of the Agreement or any other Transaction Document, (d) any 

  
 I-1

 
Originator’s, Buyer’s, the Administrator’s, the LC Bank’s or Market Street’s interest in the Receivables generally or in any significant portion of the Receivables, the
Related Security or Collections with respect thereto, or (e) the collectability of the Receivables generally or of any material portion of the Receivables. 
 Net Worth: As of the last Business Day of each Calculation Period preceding any date of determination, the excess, if any, of (a) the sum of (i) the aggregate Outstanding Balance of the
Receivables at such time and (ii) the aggregate cash and cash equivalents held, over (b) the sum of (i) the Aggregate Invested Amount outstanding at such time, plus (ii) the aggregate outstanding principal balance of the
Subordinated Loans (including any Subordinated Loan proposed to be made on the date of determination) plus (iii) the LC Amount. 

Organizational Documents: For any Person, the documents for its formation and organization, which, for example, (a) for a corporation are its
corporate charter and bylaws, (b) for a partnership are its certificate of partnership (if applicable) and partnership agreement, (c) for a limited liability company are its certificate of formation or organization and its operating
agreement, regulations or the like and (d) for a trust is the trust agreement, declaration of trust, indenture or bylaws under which it is created. 
 Original Balance: With respect to any Receivable coming into existence after the Initial Cutoff Date, the Outstanding Balance of such Receivable on the date it was created. 

Originator: As defined in the preamble to the Agreement. 
 Purchase: The purchase pursuant to Section 1.2(a) of the Agreement by Buyer from any Originator of the Receivables and the Related Security and Collections related thereto, together
with all related rights in connection therewith. 
 Purchase Agreement: The meaning set forth in the Preliminary Statements to the
Agreement. 
 Purchase Price: With respect to the Purchase, the aggregate price to be paid by Buyer to any Originator for such Purchase
in accordance with Section 1.3 of the Agreement for the Receivables, Collections and Related Security being sold to Buyer, which price shall equal on any date (a) the product of (i) the Outstanding Balance of such Receivables
on such date, multiplied by (ii) one minus the Discount Factor in effect on such date, minus (b) any Purchase Price Credits to be credited against the Purchase Price otherwise payable in accordance with Section 1.4 of the
Agreement. 
 Purchase Price Credit: As defined in Section 1.4 of the Agreement. 

Purchase Report: As defined in Section 1.2(b) of the Agreement. 
 Receivable: All indebtedness and other obligations owed by any Obligor in the United States or Canada to any Originator (at the times it arises, and before giving effect to any transfer or
conveyance under the Agreement) or Buyer (after giving effect to the transfers under the Agreement) or in which any Originator or Buyer has a security interest or other interest, including, without limitation, any indebtedness, obligation or
interest constituting an account, chattel paper, instrument or general intangible, arising in connection with the sale of goods or the rendering of services by any Originator and further includes, without limitation, the obligation to pay any
Finance Charges with respect thereto. 

  
 I-2

 Related Security: With respect to any Receivable: 

(a) all of the related Originator’s interest in the inventory and goods (including returned or repossessed inventory
or goods), if any, the sale, financing or lease of which by such Originator gave rise to such Receivable, and all insurance contracts with respect thereto, 
 (b) all other security interests or liens and property subject thereto from time to time, if any, purporting to secure payment of such Receivable, whether pursuant to the Contract related to such
Receivable or otherwise, together with all financing statements and security agreements describing any collateral securing such Receivable, 
 (c) all guaranties, letters of credit, insurance and other agreements or arrangements of whatever character from time to time supporting or securing payment of such Receivable whether pursuant to the
Contract related to such Receivable or otherwise, 
 (d) all service contracts and other contracts and agreements
associated with such Receivable, 
 (e) all Records related to such Receivable, 

(f) all of such Originator’s right, title and interest in each Lock-Box and each Collection Account, and 

(g) all proceeds of any of the foregoing; 
 provided, however, that “Related Security” shall not include any Restricted Contract to the extent the assignment or transfer of, or the creation, attachment, perfection or
enforcement of a security interest in, such Restricted Contract is not authorized by Section 9-406(d) of the UCC as in effect in each relevant jurisdiction. 
 Reportable Event: Any of the events set forth in Section 4043(c) of ERISA or the regulations thereunder, other than any such event for which the 30-day notice requirement under ERISA has been
waived in regulations issued by the PBGC. 
 Required Capital Amount: As of any date of determination, an amount equal to the greater of
(a) 3% of the Purchase Limit under the Purchase Agreement, and (b) the product of (i) 1.5 times the product of the Default Ratio times the Loss Horizon Ratio, each as determined from the most recent Monthly Report received from the
Servicer under the Purchase Agreement, and (ii) the Outstanding Balance of all Receivables as of such date, as determined from the most recent Monthly Report received from the Servicer under the Purchase Agreement. 

  
 I-3

 Restricted Contract: Any Contract that contains an enforceable provision affirmatively restricting
the assignment of the related Originator’s rights under such Contract to another Person where such provision does not include any exception that could permit such an assignment to Buyer (other than obtaining the consent of another Person (other
than the Originator) if required by such Contract) or the breach of which provision would result in the termination of such Contract. 

Subordinated Loan: As defined in Section 1.3(a) of the Agreement. 
 Subordinated Note: A promissory note in substantially the form of Exhibit VI hereto as more fully described in Section 1.3 of the Agreement, as the same may be amended, restated,
supplemented or otherwise modified from time to time. 
 Tax Code: The Internal Revenue Code of 1986, as the same may be amended from
time to time. 
 Termination Date: The earliest to occur of (a) the Facility Termination Date (as defined in the Purchase
Agreement), (b) the Business Day immediately prior to the occurrence of a Termination Event set forth in Section 5.1(d), (c) the Business Day specified in a written notice from Buyer to any Originator following the occurrence
of any other Termination Event, and (d) the date which is 10 Business Days after Buyer’s receipt of written notice from the Originators that they wish to terminate the facility evidenced by this Agreement. 

Termination Event: As defined in Section 5.1 of the Agreement. 
 Unmatured Termination Event: An event which, with the passage of time or the giving of notice, or both, would constitute a Termination Event. 

All accounting terms not specifically defined herein shall be construed in accordance with GAAP. Unless otherwise specified, all terms used in Article 9
of the UCC in the State of New York, and not specifically defined herein, are used herein as defined in such Article 9. 

  
 I-4

 Exhibit II 
 Jurisdiction of Organization; Places of Business; Locations of Records; 
 Federal
Employer Identification Number(s); Other Names 
 ARCH CHEMICALS, INC. 
 Jurisdiction of Organization: Virginia 
 PRINCIPAL PLACES OF BUSINESS: 

501 Merritt 7 

P.O. Box 5204 

Norwalk, CT 06856-5204 
 P.O. Box 547 
 2450 Olin Road 

Brandenburg, KY 40108-0547 
 1200 Lower River Road 
 Charleston, TN 37310 

350 Knotter Drive 

Cheshire, CT 06410 
 960 I-10 at West Lake 
 Lake Charles, LA 70602 

100 McKee Road 

P.O. Box 30205 

Rochester, NY 14603-3205 
 5660 New Northside Drive NW 
 Suite 1100 

Atlanta, GA 30328 

1400 Bluegrass Lake Parkway 
 Alpharetta, GA 30004 

  
 II-1

 LOCATION(S) OF RECORDS: 

501 Merritt 7 

P.O. Box 5204 

Norwalk, CT 06856-5204 
 P.O. Box 547 
 2450 Olin Road 

Brandenburg, KY 40108-0547 
 1200 Lower River Road 
 Charleston, TN 37310 

350 Knotter Drive 

Cheshire, CT 06410 
 960 I-10 at West Lake 
 Lake Charles, LA 70602 

100 McKee Road 

P.O. Box 30205 

Rochester, NY 14603-3205 
 5660 New Northside Drive 
 NW 

Suite 1100 

Atlanta, GA 30328 

1400 Bluegrass Lake Parkway 
 Alpharetta, GA 30004 
 Federal employer identification number: 

06-1526315 
 Legal,
Trade & Assumed Names: 
 JPL Corporation (former name from Aug. 25, 1998 through Nov. 5, 1998) 

  
 II-2

 ARCH PERSONAL CARE PRODUCTS, L.P. 
 Jurisdiction of Organization: New Jersey 
 Principal places of business: 

70 Tyler Place 

South Plainfield, N.J. 07080 

Location(s) of Records: 
 70
Tyler Place 
 South Plainfield, N.J. 07080 
 Federal employer identification number(s): 
 06-1599557 

Legal, Trade & Assumed Names: 
 None 
 ARCH WOOD PROTECTION, INC. 

Jurisdiction of Organization: Delaware 

Principal places of business: 

5660 New Northside Drive NW 
 Suite 1100 
 Atlanta, GA 30328 

3941 Bonsal Road 

Conley, GA 30288 
 Location(s)
of Records: 
 5660 New Northside Drive NW 
 Suite 1100 
 Atlanta, GA 30328 

3941 Bonsal Road 

Conley, GA 30288 
 Federal
employer identification number(s): 
 25-1589161 

  
 II-3

 Legal, Trade & Assumed Names: 

Hickson Corporation (former name from Nov. 9, 1988 through Dec. 18, 2000) 

Hickson Timber Protection (DBA in South Carolina) 
 HUSA Corp. (DBA in Texas) 
 ARCH TREATMENT TECHNOLOGIES, INC. 

Jurisdiction of Organization: Virginia 

Principal places of business: 

5660 New Northside Drive NW 
 Suite 1100 
 Atlanta, GA 30328 

Location(s) of Records: 
 5660
New Northside Drive NW 
 Suite 1100 
 Atlanta, GA 30328 
 Federal employer identification number(s): 

14-1865128 
 Legal,
Trade & Assumed Names: 
 None 

  
 II-4

 Exhibit III 
 Lock-boxes; Collection Accounts; Collection Banks 
  

			
	 •     PNC Bank, National Association

Treasury Management
 Two Tower Center, 17th Floor
 East Brunswick, NJ 08816

		
	 Lock Box:
 P.O. Box
640060
 Pittsburgh, PA 15264-0060
	  	 Collection Account Number:
 1526899

		
	 •     The Northern Trust Company

50 South LaSalle Street

Chicago, Illinois 60675
	  	
		
	 Lock Box:
 P.O. Box
91410
 Chicago, IL 60675
	  	 Collection Account Number:
 29432

		
	 •     JP Morgan Chase Bank

One Chase Manhattan Plaza
 New York, NY 10081
	  	
		
	 Lock Box:
 21801 Network
Place
 Chicago, IL 60673-1218
	  	 Collection Account Number:
 323-265-286

		
	 •     The Toronto-Dominion Bank

Transit 1104
 77 Bloor St W
 Toronto, Ontario M5S1M2
	  	
		
	 Lock Box:
 P.O. Box 6100
Postal Station F
 Toronto, ON M4Y2Z2
 Lockbox: T6260
	  	 Collection Account Number:
 005120359377 (Canadian Dollars)

		
	 Lock Box:
 C.P. 11566,
Succursale Ctr Ville
 Montreal QU H3C 5N7
 Lockbox: M2184
	  	 Collection Account Number:
 11045239866 (Canadian Dollars)

  
 III-1

  

			
		
	 •     Wachovia Bank

191 Peachtree Street

Atlanta, GA 30303
	  	
		
	 Lock Box:
 P.O. Box
945582
 Atlanta, GA 30394-5582
	  	 Collection Account Number:
 2004500487091

		
	 P.O. Box 930597
 Atlanta, GA
31193
	  	208-0000-683-186
		
	 P.O. Box 932727
 Atlanta, GA
31193
	  	200-0015-143-015
		
	 P.O. Box 75335
 Charlotte, NC
28275-0335
	  	2004500487091
		
	 P.O. Box 751822
 Charlotte, NC
28275-1822
	  	2000021575703

  
 III-2

 Exhibit IV 
 Form of Compliance Certificate 
 This Compliance Certificate is furnished pursuant
to Section 4.1(a)(iii) of that certain Receivables Sale Agreement dated as of October 6, 2009, between [Originator Name] (“Originator”) and certain of its affiliates, as sellers, and Arch Chemicals
Receivables Corp., as buyer (as amended, restated or otherwise modified from time to time, the “Agreement”). Capitalized terms used and not otherwise defined herein are used with the meanings attributed thereto in the
Agreement. 
 THE UNDERSIGNED HEREBY CERTIFIES THAT: 
 1. I am the duly elected                      of Originator. 

2. I have reviewed the terms of the Agreement and I have made, or have caused to be made under my supervision, a detailed review of the
transactions and financial conditions of Arch and its Subsidiaries during the accounting period covered by the attached financial statements. 
 3. The examinations described in paragraph 2 did not disclose, and I have no knowledge of, the existence of any condition or event which constitutes a Termination Event or an Unmatured Termination Event,
as each such term is defined under the Agreement, during or at the end of the accounting period covered by the attached financial statements or as of the date of this Certificate [, except as set forth below]. 

[4. Described below are the exceptions, if any, to paragraph 3 by listing, in detail, the nature of the condition or event, the period
during which it has existed and the action which Arch Chemicals and its Subsidiaries have taken, are taking, or propose to take with respect to each such condition or event:
                    ]. 
 The foregoing certifications, together with the computations set forth in Schedule I hereto and the financial statements delivered with this Certificate in support hereof, are made and delivered this
         day of                     , 200    . 

 

	
	  
	[Name]

  
 IV-1

 Exhibit V 
 Credit and Collection Policy 

  
 V-1

 

Corporate Accounting Procedure 
 Procedure Number: CAP 82.1 

Contact: Glenn Lifrieri, Director of Corporate Credit 
 Effective: November 2005 
 Supercedes: September 2004 

Page: 1 of 11 
  

 
  

 CREDIT AND COLLECTION POLICY 

CREDIT 
  

	1.	OBJECTIVES 

  

	 	•	 	 Credit sales are made only to customers having the financial ability to pay. 

 

	 	•	 	 Collections are made for all credit sales. 

  

	 	•	 	 All write-offs of uncollectible customer account balances are authorized. 

 

	2.	CREDIT CONTROL & CREDIT LINE ESTABLISHMENT 

  

	2.1	Control Considerations 

  

	1.	Credit department operations are to be separate from the marketing or sales function. This is necessary to ensure the independent credit judgment essential for
protection of the company’s investment in trade accounts receivable. 

  

	2.	Credit approval authority resides with the Director, Corporate Credit, or in the case of decentralized credit management, credit approval authority is to be designated
and delegated by the senior finance management of each division or subsidiary (See Exhibit A, Table of Authority, Credit Line Approval Levels). Such delegation is to be in writing, and is to state the credit line amount beyond which higher
management approval is required. It is permissible to re-delegate credit approval authority to additional personnel within the credit function or finance, as appropriate. 

 

	3.	Credit terms are to be approved by the business segment’s General Manager or Financial Officer, or by their delegate, and by the Director of Corporate Credit, as
required (see special credit terms, section 2.6 below). In the case of decentralized divisions and subsidiaries, credit terms are to be approved by the senior manager and senior credit executive of such entities. 

 

	2.2	Credit Applications 

  

	1.	Applications for credit terms may result from correspondence direct from customers, or as a result of contacts with prospective customers by marketing or sales
personnel. The sales or customer service representative contacted by the customer is required to have the customer complete the Arch Chemicals Customer Information Application, or to complete a comparable credit application or credit information
form. All such credit applications are to be promptly forwarded to the Director of Corporate Credit, or to a designated credit manager or analyst, for handling. 

  
 V-2

 

 Corporate Accounting Procedure 
 Procedure Number: CAP 82.1 

Contact: Glenn Lifrieri, Director of Corporate Credit 
 Effective: November 2005 
 Supercedes: September 2004 

Page: 2 of 11 
  

 
  

  

	2.	The Arch Chemicals credit application, or other similar form utilized by the customer or Arch business segment, should generally contain the following information:

  

	 	•	 	 Customer’s name and address 

  

	 	•	 	 Names and titles of customer contacts 

  

	 	•	 	 Bank and trade references 

  

	 	•	 	 Estimated annual or monthly sales volume 

  

	 	•	 	 Credit line requested 

  

	 	•	 	 Tax-exempt status 

  

	 	•	 	 Signatures (i.e., Applicant, Arch Sales Manager, Arch Credit Manager) 

 

	3.	If the sales to the prospective customer will be tax exempt, the customer is to supply a copy of their tax exemption certificate with their credit application.
Corporate Credit or the local credit office should maintain a copy of the certificate for use by the Corporate Tax Dept. 

  

	2.3	Credit Investigation 

  

	1.	Upon receipt of a request or application for credit, credit investigations should be started promptly. The extent of a particular credit investigation is dependent upon
many factors, such as the potential number and dollar volume of orders, the size of a one-time order, available credit information, etc. Some sources of information are: 

 

	 	•	 	 Dun & Bradstreet (D&B) 

  

	 	•	 	 Credit group reports 

  

	 	•	 	 Bank and trade reference checks (at least three) 

  

	 	•	 	 Customer financial statements, either audited or unaudited 

 

	2.	The Credit department should contact three of the customer’s trade references using the Trade Credit Reference Request or a similar credit inquiry tool. When
necessary, a D&B or comparable credit bureau report, and bank references should also be obtained and reviewed. Bank references are generally difficult to obtain and may be of limited value, therefore processing of the customer’s credit
application should not be unduly delayed in order to seek a bank reference. 

  

	3.	Credit investigations involving customers located in foreign countries may also potentially include assessments of the following risk factors before credit is approved:

  

	 	•	 	 Commercial law variation 

  

	 	•	 	 Stability of the country in which the customer is located 

 

	 	•	 	 Availability of foreign exchange 

  

	 	•	 	 Financial statement variation (i.e., accounting method differences) 

  
 V-3

 

 Corporate Accounting Procedure 
 Procedure Number: CAP 82.1 

Contact: Glenn Lifrieri, Director of Corporate Credit 
 Effective: November 2005 
 Supercedes: September 2004 

Page: 3 of 11 
  

 
  

	2.4	Credit Limit Amounts 

 New customer
accounts are to be established only when properly authorized by the credit function. The responsible credit manager, analyst or other designated individual, in consultation with the management of the business unit, is to establish the criteria for
granting credit limits to customers. The criteria should be such that: 
  

	1.	Credit will be provided to customers in sufficient amounts to maximize sales, while at the same time controlling exposure to minimize bad debt losses. The attached
schedule of Dun & Bradstreet Ratings and Credit Lines may be used as a general reference guide. 

  

	2.	Credit limit amounts or exposure levels are to be determined by the Director of Credit, or by a person designated by the business segment financial management, upon
completion of the credit investigation. 

  

	3.	Credit limit amounts represent a credit limit beyond which a manager of the credit function is to specifically approve each additional order, unless an overriding
credit rating (See Exhibit B) or credit risk code in the system has been designated for the customer in question. (See Exhibit A, Table of Credit Line Authority) 

 

	4.	Credit files are to be maintained and kept current. Files for new customers should include a credit application, completed trade credit references, and other credit
information and/or financial statement data (See Credit History section 2.5) 

  

	5.	The following information shall be entered into the customer’s master records: a credit limit, credit risk code (if a systematic risk code tool exists), and a
credit review date, if required. 

  

	6.	All credit limits and credit risk category codes are subject to review and change if any of the following occur: 

 

	 	a.	Information is received indicating an unfavorable change in credit agency rating, adverse report from suppliers or bank, adverse report from sales rep., etc.

  

	 	b.	Remittances are not received in accordance with agreed-upon terms of payment. 

 

	 	c.	Customers’ orders exceed their credit limit. 

 It is then the responsibility of the Credit function to review the affected customers’ credit limits and risk categories. 

 

	7.	Accounts with a historically good payment record and no measurable credit risk, may be assigned a credit limit and risk code sufficient to meet their anticipated
requirements. This is intended to see that all of the customer’s purchasing requirements will be met. 

  

	8.	Restrictions are to be placed on accounts commensurate with specific credit risks. Customers deemed to be poor credit risks may be denied credit altogether and sold
only on a secured or cash-in-advance basis. 

  
 V-4

 

 Corporate Accounting Procedure 
 Procedure Number: CAP 82.1 

Contact: Glenn Lifrieri, Director of Corporate Credit 
 Effective: November 2005 
 Supercedes: September 2004 

Page: 4 of 11 
  

 
  

	9.	Credit limit amounts and credit files are to be reassessed by the credit department on an ongoing basis and adjusted as necessary to reflect any changes in credit risk.

  

	10.	Credit limit amounts, or any changes thereto, are to be promptly furnished to Sales & Marketing as requested, for their use in dealing with customers, and as
requested, to any departments involved in the checking of credit prior to accepting and/or shipping customer orders. 

  

	11.	All changes to credit limit amounts shall be documented in writing or electronically on the accounts receivable or SAP system, and should include:

  

	 	•	 	 Customer name and address 

  

	 	•	 	 Credit limit amount and any applicable restrictions 

  

	 	•	 	 The person approving the credit 

  

	2.5	Credit History Files 

 As much as
possible, the SAP system, or a comparable online system, is to serve as an electronic credit file, reflecting relevant notes and documentation on credit lines and risk codes, and dates and reasons for changes to same. If possible, Dun &
Bradstreet or similar credit bureau reports are also to be retained in an electronic filing system, utilizing desktop or server based software, or a similar shared database, that is accessible to credit department personnel. 

In addition, hard copy customer credit history files should be maintained. These files may include such customer credit information as: 

 

	 	•	 	 Customer Information Application or credit application form (this may not be available for customers of many years standing)

  

	 	•	 	 Sales Tax Exemption information, if applicable 

  

	 	•	 	 Trade references 

  

	 	•	 	 Financial statements, if available 

  

	 	•	 	 D&B or other credit bureau hard copy reports and relevant alerts 

 

	 	•	 	 Relevant information from newspapers (electronic or paper) or trade publications 

 

	 	•	 	 Information provided by various credit reporting services 

 

	 	•	 	 Information provided by the customer or Sales 

 The accounts receivable system and credit history files are to be checked for past credit standings, to determine if the name of a former customer appears on a new customer credit application. Any amounts
previously written off as uncollectible debts should be pursued for possible recovery. 

  
 V-5

 

 Corporate Accounting Procedure 
 Procedure Number: CAP 82.1 

Contact: Glenn Lifrieri, Director of Corporate Credit 
 Effective: November 2005 
 Supercedes: September 2004 

Page: 5 of 11 
  

 
  

	2.6	Special Credit Terms 

 The authorized
standard payment terms for Arch Chemicals (domestic) are Net 30. Payment terms for exports made from the U.S. to International customers may vary from 60 to 90 days or more, based on country risk and industry and local practice. Standard payment
terms for International subsidiaries and affiliates, and any exceptions to these, are to be determined by the general management and finance/credit management of these businesses. 
 Any special terms arrangements increase the working capital required to conduct operations, and adversely affect A/R turnover and DSO. Consequently, any request from customers or sales personnel for
special credit terms are to be made in writing, and should be approved by the segment/division’s head of Sales, General Manager and/or its Finance Officer. These special terms are then to be presented to the Director, Corporate
Credit, or to the appropriate business segment manager responsible for credit management. 
 Exceptions: 

Ordinarily, special payment terms other than Net 30 are justified only to meet a competitive situation and if the sale would otherwise be lost.
In order to justify such a competitive credit terms exception, the customer should supply Sales with written proof of such competitive terms, in the form of a P.O. or invoice copy. 
 Following are some additional examples of specific credit terms exceptions: 
  

	 	•	 	 In support of the shipment of seasonal products and for early buy programs, such as for HTH water chemicals. 

 

	 	•	 	 In exchange for payment by electronic funds transfer (EFT) or ACH. 

 

	2.7	Terms for EFT Payments (Electronic Funds Transfer) 

 EFT terms arrangements for domestic U.S. customers shall be coordinated with and approved by Corporate Treasury and Corporate Credit. If the customer requires extra days as a condition for making EFT
payments, Corporate Treasury and Corporate Credit must be consulted. 
 Any additional dating terms allowed to domestic U.S. customers that pay
by EFT should not exceed 4 days, unless approved by Treasury and the Director of Corporate Credit. Such additional terms, if granted, are intended as an incentive to do EFT and/or in compensation for the customer’s perceived loss of mail
and check float. 
  

	2.8	Promissory Notes and Extended Payment Plans 

 Promissory notes and other extended payment plans that are negotiated for the settlement of a delinquent account balance must be approved by the business segment’s credit manager and its Financial
Officer or Finance Director. If a payment plan is negotiated that will extend the payment due date(s) for an additional 90 days or more, and the balance is greater than USD equivalent $100,000, such extended payment plan shall also be presented to
the Director, Corporate Credit for review and consent. 

  
 V-6

 

 Corporate Accounting Procedure 
 Procedure Number: CAP 82.1 

Contact: Glenn Lifrieri, Director of Corporate Credit 
 Effective: November 2005 
 Supercedes: September 2004 

Page: 6 of 11 
  

 
  

 Trade A/R COLLECTION 

 

	3.1	Monitoring Accounts Receivable for Past Due Balances 

 Open customer accounts must be monitored to determine past due balances that may require follow-up, and to provide all necessary information required to enforce collection. 

 

	1.	Monitoring open customer accounts may be accomplished during the order entry process and through a regular review of customer Aged Trial Balance reports. In addition,
during the cash application process, customer accounts may be reviewed and necessary action taken to clear aged deductions and questionable items. However, all adjustments resulting from such action must be approved in writing or in accordance with
established procedures (i.e., credit memo approval process, etc.). 

  

	2.	Aged accounts receivable balances and ATB reports are to be reviewed periodically (at least quarterly), to identify unusual open items and customers who are becoming
slow-pay accounts, etc. 

  

	3.	When departments other than the credit function are responsible for monitoring open customer balances, the system must ensure that all appropriate past due information
is provided to the credit function for its use in effecting collection and managing credit risk. 

  

	4.	Comments should be made on-line in any relevant system fields where text notes may be recorded (e.g., in SAP’s Credit Master Sheet, or in its Display Customer Line
Items or DMC screens). Customer service, credit analysts or other responsible personnel are to document their findings in these notes and/or in other written form (e.g., on copies of ATB reports) to serve as a document of collections efforts and to
be supplied to credit personnel, as needed. 

  

	3.2	Accounts Receivable Collection Practices 

Credit functions, accounts receivable staff and at times Customer Service, may be responsible for working together to collect past due balances, and to
review and resolve payment discrepancies. Whatever collections methods are used, (see general guidelines in section 3.2.4 below), any additional or detailed collections procedures should be in writing and should be consistently followed. Each
function shall have access to ATB reports and customer’s A/R displays on the system, as required to effect collection of accounts receivable. 

  
 V-7

 

 Corporate Accounting Procedure 
 Procedure Number: CAP 82.1 

Contact: Glenn Lifrieri, Director of Corporate Credit 
 Effective: November 2005 
 Supercedes: September 2004 

Page: 7 of 11 
  

 
  

	1.	During the cash application process, deductions (short payments) should be assigned reason codes, if the system provides this capability, in order to facilitate
subsequent investigation and resolution. 

  

	2.	Appropriate notations of the collections actions taken are to be made in the online system or in another relevant tracking tool, and/or placed in the credit file to
document the follow-up. 

  

	3.	Detailed collection practices and the system of follow-up on past due accounts may vary depending on the type of business or on the marketing methods of each business
unit. 

  

	4.	Guidelines and examples of some past due account actions and collection follow-up that should be taken are: 

 

	 	•	 	 Past dues are to be identified by a regular online review of customer account balances, or by the periodic review (e.g., monthly) of customers’
Aged Trial Balance (ATB) reports. 

  

	 	•	 	 A customer contact should be made (by phone, fax or email) once an invoice has gone past due beyond accepted payment terms in excess of an acceptable
time period. 

  

	 	•	 	 Generally, this collections contact should be made as early as one day and no later than 30 days after invoice due date. Active collections
follow-up may vary by business, however it is encouraged to begin as early as 10 to 15 days after due date. 

  

	 	•	 	 Telephone or email contact should seek to identify reasons for delinquency and to assure prompt payment of both the delinquent item(s) and all other
obligations. 

  

	 	•	 	 A commitment should be sought for payment resolution by a certain date, with customers’ promises and payment information (e.g., check number,
check date, date mailed, check amount) recorded in the online system or in a manual file or report. 

  

	 	•	 	 As appropriate, action dates for follow-up collection calls should be used and noted in an online system (e.g. SAP’s DMC), in Microsoft Outlook,
in an electronic calendar, or in another appropriate reminder, “tickler system,” or work prioritization tool. 

  

	 	•	 	 Statements shall be faxed or mailed to delinquent customers, as appropriate. 

 

	 	•	 	 Reminder letters shall be sent to delinquent customers, as appropriate. 

 

	 	•	 	 Sales representatives and/or customer service may assist in the collections effort. 

 

	5.	Each business unit may establish the point beyond which interest may potentially be charged on past due customer balances. Rates to be charged should not be less than
those that Arch must pay when obtaining short term financing. Consideration should be given to the ultimate collectibility of interest charges, and the need to monitor that any such charges that are assessed do not become stale receivables.

  
 V-8

 

 Corporate Accounting Procedure 
 Procedure Number: CAP 82.1 

Contact: Glenn Lifrieri, Director of Corporate Credit 
 Effective: November 2005 
 Supercedes: September 2004 

Page: 8 of 11 
  

 
  

	3.3	Use of Collection Agencies 

  

	1.	Seriously past due accounts are to be placed in the hands of a professional collection agency or lawyer only after all other collection efforts have been exhausted.
Sales shall be notified and a final demand letter shall be sent to the customer before placing a debt. 

  

	2.	The approval of the Director of Credit, or of the affiliate/business segment’s credit manager or credit authority, is required when placing an account with an
outside collection agency. Subsequently, Credit should consult with Legal to obtain necessary approval prior to commencing a lawsuit for collection, if the suit is for a material amount, and/or it has the potential for a counter claim on breach of
contract or product liability. 

  

	3.	Following placement for collection, Corporate Credit or the business segment’s credit professional is to closely monitor the collection efforts of the collection
agency until either the customer makes a satisfactory arrangement to pay the past due account or the collection agency has determined the account to be uncollectible. 

 

	3.4	Accounts Receivable Write-offs 

 See
CAP 83.0 for detailed policy and procedures on Doubtful Accounts and Bad Debts. 
  

	1.	Financial Officers or their delegates must approve all write-offs of uncollectible accounts. 

 

	2.	Periodically, but at least annually, past due accounts and accounts placed for collections are to be reviewed with the Financial Officer, or with the
affiliate/subsidiary finance manager, to assess whether any write-offs are appropriate. 

  

	3.	Estimated bad debts shall also be analyzed periodically, in order to determine the adequacy of the Bad Debt Reserve. Corporate Credit, or the responsible credit
professional of the affiliate or business segment, should assist in the identification of potentially uncollectible accounts for this reserve analysis. 

  

	4.	The determination that an account balance is uncollectible shall be made in consultation with Corporate Credit and the financial officers of the business segments. In
the case of International subsidiaries and affiliates, this decision shall be made by the credit and finance management of the business. Upon write-off approval, accounts will be transferred to the Allowance for Doubtful Accounts.

  

	5.	When collection agencies recommend write-offs of accounts that have been only partially collected, customers should be contacted to confirm amounts paid. This will
serve as a check on the accuracy of agency remittances. 

  
 V-9

 

 Corporate Accounting Procedure 
 Procedure Number: CAP 82.1 

Contact: Glenn Lifrieri, Director of Corporate Credit 
 Effective: November 2005 
 Supercedes: September 2004 

Page: 9 of 11 
  

 
  

	6.	Accounts written off as uncollectible may nevertheless be able to pay some percentage of the outstanding balance at a later date. Therefore, credit files on these
accounts are to be maintained and periodically followed up by the credit functions, regardless of whether the customer became bankrupt, went out of business, or refused to pay. 

 

	3.5	Credits to A/R 

 Credits may be granted
from time to time consistent with the applicable sections of the separate Accounts Receivable Trade (CAP 61.1) and Billing (CAP 81.1) policies. 
 Modification 
 Amendment and modification to contracts for credit sales shall be made
consistent with this Credit and Collection Policy, and with Corporate policies and procedures. 

  
 V-10

 

 Corporate Accounting Procedure 
 Procedure Number: CAP 82.1 

Contact: Glenn Lifrieri, Director of Corporate Credit 
 Effective: November 2005 
 Supercedes: September 2004 

Page: 10 of 11 
  

 
  

 Exhibit A 
 Table of Authority 
 Credit Line Approval Levels

  

			
	 	  	Amount in Dollars
	Vice President & Treasurer	  	Over $5 million
	Director, Corporate Credit	  	Up to $5 million
	Financial Officers	  	Up to $2 million
	Finance Director / Subsidiary Finance	  	Up to $1 million
	Credit Manager	  	Up to $500,000
	Senior / International Credit Analyst	  	Up to $100,000
	Credit Analyst	  	Up to $50,000

  
 V-11

 

 Corporate Accounting Procedure 
 Procedure Number: CAP 82.1 

Contact: Glenn Lifrieri, Director of Corporate Credit 
 Effective: November 2005 
 Supercedes: September 2004 

Page: 11 of 11 
  

 
  

 Exhibit B 
 Dun & Bradstreet Ratings and Pre-Authorized Credit Limits 
 The existence
of a positive D&B rating indicating a customer’s financial strength and credit capacity, can be used as a guideline for establishing a credit limit, provided that no negative information exists from other credit sources. 

The D&B rating must be “in date” or current, and it should be reviewed periodically for any negative revisions. 

 

											
	 “Grade 1”
 D&B Rating
	  	Credit Line
Pre-Authorized
Guideline	 	  	“Grade 2”
D&B
Rating	  	Credit Line
Pre-Authorized
Guideline	 
	 5A1
	  	 	500,000	  	  	5A2	  	 	400,000	  
	 4A1
	  	 	400,000	  	  	4A2	  	 	300,000	  
	 3A1
	  	 	250,000	  	  	3A2	  	 	200,000	  
	 2A1
	  	 	200,000	  	  	2A2	  	 	100,000	  
	 1A1
	  	 	100,000	  	  	1A2	  	 	75,000	  
	 BA1
	  	 	50,000	  	  	BA2	  	 	40,000	  
	 BB1
	  	 	40,000	  	  	BB2	  	 	30,000	  
	 CB1
	  	 	30,000	  	  	CB2	  	 	20,000	  
	 CC1
	  	 	25,000	  	  	CC2	  	 	15,000	  
	 DC1
	  	 	20,000	  	  	DC2	  	 	15,000	  
	 DD1
	  	 	15,000	  	  	DD2	  	 	10,000	  
	 EE1
	  	 	10,000	  	  	EE2	  	 	5,000	  

  
 V-12

 Exhibit VI 
 Form of Subordinated Note 
 SUBORDINATED NOTE 

                    ,
200     
 1. Note. FOR VALUE RECEIVED, the undersigned, Arch Chemicals Receivables Corp., a
Delaware corporation (“SPV”), hereby unconditionally promises to pay to the order of [ORIGINATOR NAME], a(n)
                    ***[corporation] [limited liability company] [partnership]*** (“Originator”), in lawful
money of the United States of America and in immediately available funds, on or before the date following the Termination Date which is one year and one day after the date on which (a) the Outstanding Balance of all Receivables sold under the
“Sale Agreement” referred to below has been reduced to zero and (b) Originator has paid to Buyer all indemnities, adjustments and other amounts which may be owed thereunder in connection with the Purchase thereunder (the
“Collection Date”), the aggregate unpaid principal sum outstanding of all “Subordinated Loans” made from time to time by Originator to SPV pursuant to and in accordance with the terms of that certain Amended and
Restated Receivables Sale Agreement dated as of October 6, 2009 between Originator and certain of its affiliates, as sellers, and SPV, as buyer (as amended, restated, supplemented or otherwise modified from time to time, the “Sale
Agreement”). Reference to Section 1.3 of the Sale Agreement is hereby made for a statement of the terms and conditions under which the loans evidenced hereby have been and will be made. All terms which are capitalized and
used herein and which are not otherwise specifically defined herein shall have the meanings ascribed to such terms in the Sale Agreement. 
 2. Interest. SPV further promises to pay interest on the outstanding unpaid principal amount hereof from the date hereof until payment in full hereof at a rate equal to the 1-month LIBOR rate
published in The Wall Street Journal on the first Business Day of each month (or portion thereof) during the term of this Subordinated Note, computed for actual days elapsed on the basis of a year consisting of 360 days and changing on the first
business day of each month hereafter (“LIBOR”); provided, however, that if SPV shall default in the payment of any principal hereof, SPV promises to pay, on demand, interest at the rate equal to LIBOR plus 2.00% per
annum on any such unpaid amounts, from the date such payment is due to the date of actual payment. Interest shall be payable on the first Business Day of each month in arrears; provided, however, that SPV may elect on the date any interest payment
is due hereunder to defer such payment and upon such election the amount of interest due but unpaid on such date shall constitute principal under this Subordinated Note. The outstanding principal of any loan made under this Subordinated Note shall
be due and payable on the Collection Date and may be repaid or prepaid at any time without premium or penalty. 
 3.
Principal Payments. Originator is authorized and directed by SPV to enter on the grid attached hereto, or, at its option, in its books and records, the date and amount of each loan made by it which is evidenced by this Subordinated Note and
the amount of each payment of principal made by SPV, and absent manifest error, such entries shall constitute prima facie evidence of the accuracy of the information so entered; provided that neither the failure of Originator to make any such entry
or any error therein shall expand, limit or affect the obligations of SPV hereunder. 

  
 VI-1

 4. Subordination. Originator shall have the right to receive, and SPV shall make, any
and all payments and prepayments relating to the loans made under this Subordinated Note, provided that, after giving effect to any such payment or prepayment, the SPV’s Net Worth would be less than the Required Capital Amount. Originator
hereby agrees that at any time during which the conditions set forth in the proviso of the immediately preceding sentence shall not be satisfied, Originator shall be subordinate in right of payment to the prior payment of any indebtedness or
obligation of SPV owing to the Administrator, the LC Bank or Market Street under that certain Amended and Restated Receivables Purchase Agreement dated as of October 6, 2009 (as amended, restated, supplemented or otherwise modified from time to
time, the “Purchase Agreement”) by and among SPV, Arch Chemicals, Inc., as initial Servicer, Market Street Funding LLC, PNC Bank, National Association as LC Bank (the “LC Bank”) and PNC Bank, National
Association, as agent and administrator for Market Street and its liquidity providers and the LC Bank (in such capacity, the “Administrator”). The subordination provisions contained herein are for the direct benefit of, and
may be enforced by, the Administrator, Market Street, the LC Bank and/or any of their respective assignees (collectively, the “Senior Claimants”) under the Purchase Agreement. Until the date on which the “Aggregate
Invested Amount” outstanding under the Purchase Agreement has been repaid in full and all other obligations of SPV and/or the Servicer thereunder and under the “Fee Letter” referenced therein (all such obligations, collectively, the
“Senior Claim”) have been indefeasibly paid and satisfied in full, Originator shall not institute against SPV any proceeding of the type described in Section 5.1(d) of the Sale Agreement unless and until the
Collection Date has occurred. Should any payment, distribution or security or proceeds thereof be received by Originator in violation of this Section 4, Originator agrees that such payment shall be segregated, received and held in trust for the
benefit of, and deemed to be the property of, and shall be immediately paid over and delivered to the Administrator for the benefit of the Senior Claimants. 
 5. Bankruptcy; Insolvency. Upon the occurrence of any proceeding of the type described in Section 5.1(d) of the Sale Agreement involving SPV as debtor, then and in any such event the
Senior Claimants shall receive payment in full of all amounts due or to become due on or in respect of the Aggregate Invested Amount and the Senior Claim (including “Yield” as defined and as accruing under the Purchase
Agreement after the commencement of any such proceeding, whether or not any or all of such Yield is an allowable claim in any such proceeding) before Originator is entitled to receive payment on account of this Subordinated Note, and to that end,
any payment or distribution of assets of SPV of any kind or character, whether in cash, securities or other property, in any applicable insolvency proceeding, which would otherwise be payable to or deliverable upon or with respect to any or all
indebtedness under this Subordinated Note, is hereby assigned to and shall be paid or delivered by the Person making such payment or delivery (whether a trustee in bankruptcy, a receiver, custodian or liquidating trustee or otherwise) directly to
the Administrator for application to, or as collateral for the payment of, the Senior Claim until such Senior Claim shall have been paid in full and satisfied. 
 6. Amendments. This Subordinated Note shall not be amended or modified except in accordance with Section 7.1 of the Sale Agreement. The terms of this Subordinated Note may not be
amended or otherwise modified without the prior written consent of the Administrator for the benefit of Market Street and the LC Bank and their assigns. 

  
 VI-2

 7. GOVERNING LAW. THIS SUBORDINATED NOTE HAS BEEN MADE AND DELIVERED AT NEW YORK, NEW
YORK, AND SHALL BE INTERPRETED AND THE RIGHTS AND LIABILITIES OF THE PARTIES HERETO DETERMINED IN ACCORDANCE WITH THE LAWS AND DECISIONS OF THE STATE OF NEW YORK. WHEREVER POSSIBLE EACH PROVISION OF THIS SUBORDINATED NOTE SHALL BE INTERPRETED IN
SUCH MANNER AS TO BE EFFECTIVE AND VALID UNDER APPLICABLE LAW, BUT IF ANY PROVISION OF THIS SUBORDINATED NOTE SHALL BE PROHIBITED BY OR INVALID UNDER APPLICABLE LAW, SUCH PROVISION SHALL BE INEFFECTIVE TO THE EXTENT OF SUCH PROHIBITION OR
INVALIDITY, WITHOUT INVALIDATING THE REMAINDER OF SUCH PROVISION OR THE REMAINING PROVISIONS OF THIS SUBORDINATED NOTE. 
 8.
Waivers. All parties hereto, whether as makers, endorsers, or otherwise, severally waive presentment for payment, demand, protest and notice of dishonor. Originator additionally expressly waives all notice of the acceptance by any Senior
Claimant of the subordination and other provisions of this Subordinated Note and expressly waives reliance by any Senior Claimant upon the subordination and other provisions herein provided. 

9. Assignment. This Subordinated Note may not be assigned, pledged or otherwise transferred to any party other than Originator
without the prior written consent of the Administrator, and any such attempted transfer shall be void. 
  

			
	ARCH CHEMICALS RECEIVABLES CORP.
		
	By:	 	 
	Name:	 	 
	Title:	 	 

  
 VI-3

 Schedule 
 to 
 SUBORDINATED NOTE 

SUBORDINATED LOANS AND PAYMENTS OF PRINCIPAL 
  

																	
	 DATE
	  	AMOUNT
OF
SUBORDINATED
LOAN	 	  	AMOUNT OF
PRINCIPAL
PAID	 	  	UNPAID
PRINCIPAL

BALANCE	 	  	NOTATION MADE
BY (INITIALS)	 
		  				  				  				  			
		  				  				  				  			
		  				  				  				  			
		  				  				  				  			
		  				  				  				  			
		  				  				  				  			
		  				  				  				  			
		  				  				  				  			
		  				  				  				  			
		  				  				  				  			
		  				  				  				  			

  
 1 

 Exhibit VII 
 [Form of] Purchase Report 
 For the Calculation Period beginning
[date] and ending [date] 
 TO: BUYER AND THE AGENT (AS BUYER’S ASSIGNEE) 

 

													
	 Aggregate Outstanding Balance of all Receivables sold during the period:
	  	$	            	  	 				  	 	A	  
	 Less: Aggregate Outstanding Balance of all Receivables sold during such period which were not Eligible Receivables on the date
when sold:
	  	($	            	) 	 				  	 	(B	) 
	 Equals: Aggregate Outstanding Balance of all Eligible Receivables sold during the period (A- B):
	  				 	$	            	  	  	 	=C	  
	 Less: Purchase Price discount during the Period:
	  	($	            	) 	 				  	 	(D	) 
	 Equals: Gross Purchase Price Payable during the period (C – D)
	  				 	$	            	  	  	 	=E	  
	 Less: Total Purchase Price Credits arising during the Period:
	  	($	            	) 	 				  	 	(F	) 
	 Equals: Net Purchase Price payable during the Period (E - F):
	  				 	$	            	  	  	 	=G	  
	 Cash Purchase Price Paid to Originator during the Period:
	  	$	            	  	 				  	 	H	  
	 Subordinated Loans made during the Period:
	  	$	            	  	 				  	 	I	  
	 Less: Repayments of Subordinated Loans received during the Period:
	  	($	            	) 	 				  	 	(J	) 
	 Equals: Purchase Price paid in cash or Subordinated Loans during the period (H + I – J):
	  				 	$	            	  	  	 	=K	  
	 Aggregate Outstanding Balance of Receivables contributed during the Period:
	  	$	            	  	 				  	 	L	  

  
 VII-1

 Schedule A 
 DOCUMENTS TO BE DELIVERED TO BUYER 
 ON OR PRIOR TO THE PURCHASE 

1. Executed copies of the Amended and Restated Receivables Sale Agreement, duly executed by the parties thereto. 

2. Copy of the Credit and Collection Policy to attach to the Receivables Sale Agreement as an Exhibit. 

3. A certificate of each Originator’s [and, if applicable, its general partner’s] Secretary or Assistant Secretary certifying:

 (a) A copy of the Resolutions of its Board of Directors (or comparable body), authorizing its execution, delivery and
performance of the Amended and Restated Receivables Sale Agreement and the other documents to be delivered by it thereunder; 

(b) A copy of its Organizational Documents (also certified, to the extent that such documents are filed with any governmental authority,
by the Secretary of State of its jurisdiction of organization on or within thirty (30) days prior to the Closing Date); 

(c) Good Standing Certificates for such Person issued by the Secretaries of State of its state of organization; and 

(d) The names and signatures of the officers authorized on its behalf to execute the Amended and Restated Receivables Sale Agreement and
any other documents to be delivered by it thereunder. 
 4. Pre-filing state and federal tax lien, judgment lien searches from
the jurisdiction of organization and jurisdiction of its chief executive office and UCC lien searches from the jurisdiction of organization dated within thirty (30) days of the Closing Date against each Originator . 

5. Assignments of UCC financing statements, in form suitable for filing under the UCC in all jurisdictions as may be necessary or, in the
opinion of Buyer (or its assigns), desirable, under the UCC of all appropriate jurisdictions or any comparable law in order to perfect the ownership interests contemplated by the Amended and Restated Receivables Sale Agreement. 

6. UCC termination statements, if any, necessary to release all security interests and other rights of any Person in the Receivables,
Contracts or Related Security previously granted by any Originator, together with authorization to file the same. 
 7. Executed
notices of or consents to, as applicable, assignments of the Collection Account Agreements for each Lock-Box and Collection Account. 

  
 1 

 8. A favorable opinion of legal counsel for the Originators (and, if applicable, its general
partner) reasonably acceptable to the Administrator which addresses the following matters and such other matters as the Administrator may reasonably request: 
 (a) due authorization, execution, delivery, enforceability and other corporate matters with respect to each of the Originators (and such general partner); 

(b) the creation of a first priority perfected security interest in favor of the Buyer (and the Administrator for the benefit of the
Secured Parties as its assignee) in (1) all of the Receivables and (2) all proceeds of any of the foregoing; 
 (c)
the existence of a “true sale” of the Receivables from Originators to the Buyer under the Amended and Restated Receivables Sale Agreement; 
 (d) the inapplicability of the doctrine of substantive consolidation to Buyer and any Originator or its affiliates or in connection with any bankruptcy proceeding involving Buyer, any Originator or such
affiliates. 
 9. A Certificate of each Originator’s chief financial officer or treasurer certifying that, as of the
closing date, no Termination Event or Unmatured Termination Event exists and is continuing. 
 10. Executed copies of all
consents from and authorizations by any Persons and all waivers and amendments to existing credit facilities, that are necessary in connection with the Receivables Sale Agreement. 

11. Executed Subordinated Note by Buyer in favor of each Originator. 

12. If applicable, a direction letter executed by each Originator authorizing Buyer (and the Administrator, as its assignee) and
directing warehousemen to allow Buyer (and the Administrator, as its assignee) to inspect and make copies from each Originator’s books and records maintained at off-site data processing or storage facilities. 

  
 2 

 Schedule 1.1 
 INITIAL CONTRIBUTED RECEIVABLES 
 $4,693,701.48 

  
 1

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