Document:

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                                                                    EXHIBIT 10.3

             SEPARATION AGREEMENT AMENDING CERTAIN PRIOR AGREEMENTS
                          (INCLUDING GENERAL RELEASE)

This Separation Agreement Amending Certain Prior Agreements (Including General
Release) ("Agreement") is executed August 3, 2001, to be effective July 16,
2001, by and between BINDVIEW CORPORATION (a registered assumed name of BindView
Development Corporation), a Texas corporation ("BindView" or "the Company") and
KEVIN M. WEISS, a resident of Harris County, Texas ("you").

1. You and BindView previously entered into an Executive Employment Agreement
effective as of October 2, 2000 ("Employment Agreement") under which you were
employed as Senior Vice President and Chief Marketing Officer of the Company.
You and BindView likewise previously entered into a Nonqualified Stock Option
Agreement effective as of October 2, 2000 (the "2000 Option Agreement") and a
Nonqualified Stock Option Agreement effective as of May 1, 2001 (the "2001
Option Agreement") (collectively the "Option Agreements"). The 2001 Option
Agreement relates to a grant to you of an option to purchase 200,000 shares of
the Company's stock at an exercise price of $2.90 per share (referred to as
"200,000 options"). BindView has not granted you any other options to purchase
the Company's stock.

2. This Agreement amends the Employment Agreement and the Option Agreements to
conclusively establish the severance payment due to you and the vesting and
exercisability of your options and to set forth a general release of BindView.
The Employment Agreement and the Option Agreements otherwise remain in full
force and effect except as modified by this Agreement.

3. You and BindView agree that you are resigning from the Company because of a
restructuring of the Company's marketing functions that materially changed your
responsibilities to the Company, and that such restructuring constitutes "Good
Reason" for resignation under Section 5(b)(2) of the Employment Agreement. Your
last day of employment is the first date written above.

4. Because you are resigning for Good Reason, you are entitled to a one-year
severance period under the Employment Agreement. Under Section 4(c)(3) of the
Employment Agreement, you have elected to receive your salary- and bonus
payments for the severance period in a single lump sum discounted to present
value at the rate of 8% per annum; such discounted amount, less applicable tax
and health-insurance withholding, will be paid to you upon your execution and
delivery of this Agreement to us. The discounted amount is as follows; you
acknowledge receipt of such discounted amount less withholding:

<Table>
<S>                                                      <C>
Salary component                                         $ 191,902.00
Bonus component                                          $ 188,502.00
TOTAL SEVERANCE PAYMENT                                  $ 380,404.00
</Table>

5. Per the Employment Agreement, you are entitled to continue on the Company's
health-insurance plan until July 16, 2002. If you notify BindView in writing
that you no longer wish to continue participating in such plan, the Company will
refund to you the unused amounts withheld from your severance payment for the
employee portion of the applicable premium, at the rate of $150 per month times
the number of full months remaining between the date the Company receives such
notice and July 16, 2002.

6. Except as set forth above, the Company is not obligated to make any other
payment to you in connection with your resignation.

WEISS SEPARATION AGREEMENT                                                PAGE 1
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7. Because you are resigning for Good Reason, the vesting of your 200,000
options under the 2001 Option Agreement has been accelerated by one year
pursuant to the terms of your Employment Agreement. Because of the acceleration
of vesting, 50,000 of your options under the 2001 Option Agreement are now
vested and normally would be required to be exercised no later than October 12,
2001. At your request, BindView agrees to the following (referred to as the
"Extended-Look Clause"): (i) You will have until July 16, 2002, in which to
exercise such 50,000 vested options to the extent you so desire, in accordance
with the terms and conditions of the 2001 Option Agreement; (ii) any of such
50,000 vested options that have not been exercised by then will be forfeited and
canceled; and (iii) all of your other options, under either of the Option
Agreements, are hereby forfeited and cancelled effective immediately. The
Extended-Look Clause is subject to your Revocation Right in paragraph 9.

8. In consideration of the Extended-Look Clause, you, for yourself, your
attorneys, heirs, executors, administrators, successors, and assigns, do fully
release and discharge BindView, its parent, subsidiary, and affiliate
corporations, and related companies, as well as all predecessors, successors,
assigns, directors, officers, partners, agents, employees, former employees,
heirs, executors, attorneys, and administrators (hereinafter "BindView, et
al."), from all suits, causes of action, and/or claims of any nature whatsoever,
whether known, unknown, or unforeseen, which you have or may have against
BindView, et al., arising out of any event, transaction, or matter that occurred
before the date of your signing of this Agreement. You covenant that neither
you, nor any person, organization, or other entity on your behalf, will sue
BindView, et al., or initiate any type of action for damages, against BindView,
et al. with respect to any event, transaction, or matter that occurred before
the date of your signing of this Agreement. You understand and agree that the
release and discharge in this paragraph (the "Release") is a GENERAL RELEASE.

9. This Release specifically includes, but is not limited to, all claims of
breach of contract, employment discrimination, (including, but not limited to,
discrimination on the basis of race, sex, religion, national origin, age,
disability or any other protected status, and coming within the scope of Title
VII of the Civil Rights Act, as amended, the Age Discrimination in Employment
Act, as amended, the Older Workers Benefit Protection Act, or any other
applicable state or federal statute), claims concerning recruitment, hiring,
salary rate, severance pay, wages or benefits due, employment status, libel,
slander, defamation, intentional or negligent misrepresentation and/or
infliction of emotional distress, together with any and all tort, contract, or
other claims which might have been asserted by you or on your behalf in any
suit, charge of discrimination, or claim against BindView, et al.

10. Unless required to do so by subpoena, you agree not to disseminate or
disclose the terms of this Agreement, the discussions leading to this Agreement,
or any subsidiary undertakings required by this Agreement, including but not
limited to the fact of the Release, except to your legal counsel or tax advisers
as may become necessary. You further agree that no part of this Agreement or the
Release is to be used as or admitted into evidence in any proceeding of any
character, judicial, administrative or otherwise, now pending or subsequently
instituted.

11. You acknowledge that you have been given an opportunity of forty-five (45)
days to consider the Release and that you have been encouraged by BindView to
discuss fully the terms of this Agreement, including the Release, with legal
counsel of your own choosing. Moreover, for a period of seven (7) days following
your execution of this Agreement, you shall have the right to revoke the waiver
of claims

WEISS SEPARATION AGREEMENT                                                PAGE 2
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arising under the Age Discrimination in Employment Act ("ADEA"), a federal
statute that prohibits employers from discriminating against employees who are
over the age of 40 (referred to as the "Revocation Right"). If you elect to
exercise the Revocation Right within this seven-day period, you must inform
BindView by delivering a written notice of revocation to D. C. Toedt, Vice
President and General Counsel, at BindView no later than 5:00 p.m. on the
seventh calendar day after you sign this Agreement. If you do so, then (i) the
Release shall be voided as to claims arising under the ADEA, (ii) the Release
shall remain in full force and effect as to any and all other claims, (iii) the
Extended-Look Clause, including but not limited to the provision for immediate
forfeiture of certain stock options, shall be voided, and (iv) all of your
vested options to purchase BindView stock, under either of the Option
Agreements, must be exercised on or before October 12, 2001, and any options not
exercised by then will be forfeited and cancelled at that time.

12. You agree that except as expressly provided otherwise in this Agreement, the
Release may not be released, discharged, abandoned, supplemented, changed, or
modified in any manner, except by an instrument in writing signed by you and a
duly authorized member of the management of BindView.

13. You understand and agree that neither this Agreement nor the Release
constitutes an admission of liability or wrongdoing on the part of BindView,
et al. You affirm that no other representations, promises, or agreements of any
kind have been made to or with you by any person or entity whatsoever to cause
you to sign this Agreement.

BINDVIEW CORPORATION, BY:                          EXECUTIVE

---------------------------                        -----------------------------
Eric J. Pulaski, President                         Kevin M. Weiss
and Chief Executive Officer

WEISS SEPARATION AGREEMENT                                                PAGE 3<PAGE>
                                                                   EXHIBIT 10.17

                                                           Execution Counterpart

                                SECOND AMENDMENT
                   TO AMENDED AND RESTATED CREDIT AGREEMENT

            This Second Amendment to Amended and Restated Credit Agreement (this
"Agreement") dated as of July 1, 2001 is entered into by and among Texas
Petrochemicals LP, a Texas limited partnership (the "Company"), TPC Holding
Corp., a Delaware corporation (the "Parent"), those Lenders that execute a
counterpart of this Agreement and The Chase Manhattan Bank (the successor by
merger to Chase Bank of Texas, National Association), individually as a Lender
and the Swing Line Lender and as agent for the other Lenders (in such latter
capacity together with any other Person who becomes the agent, the "Agent"), ABN
AMRO North America, Inc. as agent for ABN AMRO Bank, N.V., and The Bank of Nova
Scotia, each individually as a Lender and together as co-documentation agents
for the other Lenders (in such capacity, together with any other Person who
becomes a documentation agent, the "Documentation Agents").

            WHEREAS, the Company, the Parent, the Lenders, the Agent, the Swing
Line Lender and the Documentation Agents are parties to that certain Amended and
Restated Credit Agreement dated as of June 30, 2000, as amended by a First
Amendment to Amended and Restated Credit Agreement dated as of January 1, 2001
(the Amended and Restated Credit Agreement as so amended, the "Credit
Agreement"; capitalized terms used herein, unless otherwise defined, are used as
defined in the Credit Agreement); and

            WHEREAS, the Company has requested the Lenders to amend certain
provisions of the Credit Agreement.

            NOW, THEREFORE, in consideration of the premises and for other good
and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto hereby agree as follows:

            1. Amendment to Section 1.01. The definition of "EBITDA" contained
in Section 1.01 of the Credit Agreement is hereby amended in its entirety to
read as follows:

            " 'EBITDA' means, with respect to the Company and its Subsidiaries
      determined on a consolidated basis for the four fiscal quarters
      immediately preceding the most recent Financial Statement Delivery Date,
      without duplication, the result of net income less any non-cash income to
      the extent included in determining net income and without giving effect to
      any non-recurring items, extraordinary gains or losses from the sale of
      assets or write down in the value of assets owned by the Company and
      Subsidiaries for such period plus depreciation, amortization, Interest
      Expense, taxes, non-recurring losses incurred as a result of fire and
      flood damage (which in the case of such non-recurring losses shall not
      exceed $13,400,000 for the fiscal quarter ended June 30, 2001 and
      $10,400,000 for the fiscal quarter ended September 30, 2001), and other
      non-cash charges for such period to the extent deducted in determining net
      income.".

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            2. Amendment to Section 8.13(b). Clauses (i) and (j) of Section
8.13(b) of the Credit Agreement are hereby deleted and the following clauses
(i), (j) and (k) substituted therefor:

            "(i) for the period from July 1, 2002 to and including September 30,
      2002, greater than 4.5 to 1.0, (j) for the period from October 1, 2002 to
      and including June 30, 2003, greater than 3.0 to 1.0 and (k) for the
      period from July 1, 2003 to and including June 30, 2004, greater than 3.0
      to 1.0,".

            3. Ratification. (a) The Credit Agreement, the Notes and the other
Loan Documents, as amended and affected by this Agreement, shall continue in
full force and effect, and are hereby ratified and confirmed; and

            (b) Nothing in this Agreement releases any right, claim, lien,
security interest or entitlement of the Agent or any Lender created by or
contained in any of such documents nor is the Company or any other Person
released from any covenant, warranty or obligation created by or contained
therein.

            4. Representations and Warranties. The Company hereby represents and
warrants to the Lenders that (a) the Credit Agreement as amended by this
Agreement has been duly authorized, executed and delivered on behalf of the
Company, (b) this Agreement constitutes a valid and legally binding agreement
enforceable against the Company in accordance with its terms except as such
enforceability may be limited by bankruptcy, insolvency, reorganization,
moratorium, fraudulent transfer or other similar laws relating to or affecting
the enforcement of creditors' rights generally, and by general principles of
equity (regardless of whether such enforceability is considered in a proceeding
in equity or at law), (c) after giving effect to this Agreement, the
representations and warranties by the Company contained in the Credit Agreement
and in the other Loan Documents are true and correct on and as of the date
hereof in all material respects as though made as of the date hereof (unless any
such representation or warranty expressly relates to an earlier date or is no
longer true solely as a result of transactions not prohibited by the Credit
Agreement, as amended by this Agreement, and the other Loan Documents) and (d)
after giving effect to this Agreement, no Default exists under the Credit
Agreement or any of the other Loan Documents.

            5. Reference to the Credit Agreement and Effect on the Notes and
Other Loan Documents.

            (a) Upon the effectiveness of the amendments set forth in Sections 1
and 2, each reference in the Credit Agreement to "this Agreement", "hereunder,"
"herein" or words of like import shall mean and be a reference to the Credit
Agreement, as amended and affected hereby.

            (b) Upon the effectiveness of the amendments set forth in Sections 1
and 2, each reference in the Notes and the other Loan Documents to "the Credit
Agreement" shall mean and be a reference to the Credit Agreement, as amended and
affected hereby.

                                       2
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            6. Counterparts. This Agreement may be signed in any number of
counterparts, each of which shall be construed as an original, but all of which
together shall constitute one and the same instrument.

            7. Ratification by Other Parties. By its execution of this Agreement
each of the Parent, the Limited Partner, Holding Co. and Texas Butylene Chemical
Corporation hereby consents and agrees to the provisions of this Agreement,
represents and warrants that the representations by it and its Subsidiaries
contained in Article VI of the Credit Agreement, as amended hereby, are true and
correct in all material respects as though made as of the date hereof (unless
any such representation and warranty expressly relates to an earlier date or is
no longer true solely as a result of transactions not prohibited by the Credit
Agreement, as amended hereby, and the other Loan Documents), and ratifies and
confirms the Loan Documents to which it is a party, as amended and affected
hereby.

            8. Effectiveness of Agreement. This Agreement shall become effective
upon (a) the execution hereof by the Company, the Parent, the Limited Partner,
Holding Co., Texas Butylene Chemical Corporation and Lenders constituting the
Majority Lenders under the Credit Agreement (whether or not all Lenders listed
on the signature pages hereof execute this Agreement) and (b) the payment to the
Administrative Agent for the account of each Lender executing this Agreement of
an amendment fee equal to .075% of such Lender's Commitment..

            9. Choice of Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED
IN ACCORDANCE WITH THE LAWS OF THE STATE OF TEXAS, EXCEPT TO THE EXTENT THAT THE
LAWS OF THE UNITED STATES OF AMERICA, AND ANY RULES, REGULATIONS OR ORDERS
ISSUED OR PROMULGATED THEREUNDER APPLICABLE TO THE AFFAIRS AND TRANSACTIONS OF
THE LENDER OTHERWISE PREEMPT TEXAS LAW, IN WHICH EVENT SUCH FEDERAL LAW SHALL
CONTROL.

            10. Final Agreement of the Parties. THE CREDIT AGREEMENT, AS AMENDED
BY THIS AGREEMENT, AND THE OTHER LOAN DOCUMENTS (INCLUDING, WITHOUT LIMITATION,
ALL EXHIBITS AND SCHEDULES THERETO) CONSTITUTE A "LOAN AGREEMENT" AS DEFINED IN
SECTION 26.02(a) OF THE TEXAS BUSINESS AND COMMERCE CODE, AND REPRESENT THE
FINAL AGREEMENT AMONG THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF
PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE
NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES.

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            IN WITNESS WHEREOF, the parties hereto have caused this Agreement to
be executed by their respective officers thereunto duly authorized as of the
date first above written.

                                     Company:

                                     TEXAS PETROCHEMICALS LP

                                     By:   TPC HOLDING CORP.,
                                           as General Partner

                                           By:
                                                 ------------------------------
                                           Name:
                                                 ------------------------------
                                           Title:
                                                 ------------------------------

                                     Parent:

                                     TPC HOLDING CORP.

                                     By:
                                           ------------------------------------
                                     Name:
                                           ------------------------------------
                                     Title:
                                           ------------------------------------

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