Document:

Production Agreement between Elenac GmbH and Kraton Polymers GmbH

 Exhibit 10.37 
  
 CONFIDENTIAL TREATMENT REQUESTED 
 WITH RESPECT TO CERTAIN PORTIONS HEREOF 
 DENOTED WITH “***” 
  
 CONFIDENTIAL 
  
 31st March, 2000 
  
 PRODUCTION AGREEMENT 
  
 (ELASTOMERS) 
  
 between 
  
 ELENAC GmbH 
  
 and 
  
 KRATON POLYMERS GmbH 
  

  
 TABLE OF CONTENTS 

 

					
	 Clause
	  	 	  	Page
	 1.
	  	 OPERATION OF THE FACILITY
	  	2
			
	 2.
	  	 MATERIALS
	  	5
			
	 3.
	  	 STORAGE
	  	6
			
	 4.
	  	 TERM
	  	7
			
	 5.
	  	 SERVICE FEE; CAPITAL INVESTMENTS
	  	8
			
	 6.
	  	 BILLING AND TERMS OF PAYMENT
	  	11
			
	 7.
	  	 TAXES
	  	11
			
	 8.
	  	 WARRANTY
	  	12
			
	 9.
	  	 LIABILITIES
	  	12
			
	 10.
	  	 WAIVER
	  	12
			
	 11.
	  	 ENTIRETY OF AGREEMENT
	  	12
			
	 12.
	  	 ASSIGNMENT; SUCCESSORS
	  	13
			
	 13.
	  	 FORCE MAJEURE
	  	13
			
	 14.
	  	 GOVERNING LAW AND DISPUTE RESOLUTION
	  	13
			
	 15.
	  	 CONFIDENTIALITY AND RESTRICTION ON INFORMATION
	  	13
			
	 16.
	  	 AUDIT
	  	15
			
	 17.
	  	 NOTICE
	  	15

  

  
 PRODUCTION AGREEMENT

  
 BETWEEN 
  
 Elenac GmbH, a company organized under the laws of Germany, having the address of 77694 Kehl,
Germany (“Elenac”) 
  
 AND 
  
 Kraton Polymers GmbH a company organized under the laws of Germany, having the address of
Kölner Straße 6, 65760 Eschborn, Germany (“Purchaser”) hereinafter jointly referred to as the “Parties". 
  

WHEREAS, Elenac currently owns and operates a facility in Wesseling, Germany (“Facility”) with a production capacity of approximately 62,000
mt/a of Elastomers (“Product”); and 
  
 WHEREAS, Purchaser
has entered into a sale and purchase agreement for the transfer of Shell’s elastomers business, which includes the Elastomers business, including the Facility, currently conducted by Elenac. 
  
 WHEREAS, Elenac and Purchaser desire to enter into this Agreement for Elenac to provide
certain services, materials and utilities with respect to the operation of the Facility, all upon the terms and conditions hereinafter set forth. 
  

 NOW, THEREFORE, the Parties agree as follows; 
  

	1.	OPERATION OF THE FACILITY. 

  

	1.1	During the term of this Agreement, and subject to the specific provisions set forth below (including without limitation the responsibility of the Purchaser Representative as defined
in paragraph 1.2), Elenac shall, under the direction of Purchaser, manage the Facility (“Betriebsführung”) by providing the services, human resources and certain materials and utilities required in order to operate the Facility for
the production and interim storage of Elastomers. Such operations shall be conducted as far as reasonably practicable in a manner consistent with its operations prior to the Commencement Date (as defined in paragraph 4.1), subject to any operational
changes as (i) may be necessitated by applicable law or health, safety and/or environmental considerations, or (ii) directed by the Purchaser Representative, provided that same are feasible and within applicable law. The Purchaser shall exclusively
communicate his directions and instructions (within the responsibilities set forth in paragraph 1.2) to a representative designated by Elenac (“Elenac Representative”). The Purchaser shall be consulted on the identity of the
Elenac Representative and may propose candidates for consideration. However, Elenac reserves the right to select the Elenac Representative. 

  

	1.2	 During the term of this Agreement, Purchaser will appoint a designee to serve as Purchaser’s representative
(“Purchaser Representative”) for the Facility. Subject to compliance with applicable law and other rules, regulations and requirements, including without limitation those relating to health, safety and environmental
matters, of the Wesseling site (“Site”), and unless otherwise stated in this paragraph 1.2, the Purchaser Representative shall have overall responsibility for the operation and maintenance of the Facilities, including,
without limitation, production scheduling and performance, provided, however, that Elenac shall have the overall responsibility for its employees. The Purchaser Representative may appoint from Purchaser one or more assistants, financial controllers
and other staff (“Staff”) to assist him in the 

  

	 	 
performance of his duties. For the avoidance of doubt the second last sentence of paragraph 1.1 shall also apply with regard to the Purchaser Representative
and Staff. In the event that, subject to the proviso in the second sentence of this paragraph 1.2, any Staff member so appointed shall functionally replace any employee of Elenac, any severance and other similar costs related to such replaced
employees that are not, despite Elenac’s reasonable efforts to do so, reassigned to other activities within Elenac, shall be borne by Purchaser. The Purchaser Representative and Staff shall be responsible to Elenac’s Site manager with
respect to health, safety and environmental matters and to the operation of the Site as a whole. 

  
 In particular, and without limiting the generality of the foregoing, the Purchaser Representative shall have the right to request termination or
reassignment of any Elenac employee working at or in connection with the Facility, but only to the extent that such employee’s acts or omissions are sufficient cause for Elenac to terminate or reassign such employee pursuant to his contract or
other terms of employment, and provided further that the exercise of such right shall be subject to any applicable limitations of law. 
  

	1.3	 Purchaser acknowledges and agrees that, except to the extent arising out of Elenac’s gross negligence or wilful breach of its obligations under this Agreement,
neither Elenac, nor its shareholders, nor any of their respective directors, officers, employees or agents, shall be liable to Purchaser for any claims, damages, losses, liabilities or expenses of any kind, including without limitation any loss of
profits, loss of use, loss of revenue, loss of contract, loss of goodwill or any indirect or consequential losses or damages of any kind whatsoever, arising in connection with the operation or maintenance of the Facility (collectively,
“Claims”). Purchaser shall indemnify and hold harmless Elenac, its shareholders and their respective directors, officers, employees or agents from and against any and all Claims. In particular, and without limiting the
generality of the foregoing, Elenac shall have no liability based on a failure of the Facilities to produce Product of a certain amount, deficiencies in raw material yields, or any other similar failure with respect to the performance of the
Facility, except to the extent arising out of Elenac’s gross negligence or wilful breach 

  

	 	 
of its obligations under this Agreement. In addition to the foregoing limitations, Elenac’s liability in connection with the operation or maintenance of
the Facilities shall be limited in any event to an annual aggregate liability equal to twenty-five percent (25%) of the Service Fees invoiced to Purchaser in the twelve (12) months immediately preceding the date on which the event upon which such
liability is based occurred. 

  

	1.4	Elenac shall be entitled, without incurring liability of any kind, either direct or consequential, to shut down the Facility or Elenac’s butadiene production facility at any
time where health, safety, environmental and/or other risks of a significant and urgent nature have arisen to justify such action, and to continue such shutdown until the risk in question has been removed. 

  

	1.5	In the event of any dispute between the Purchaser Representative and Elenac, the Parties shall discuss the matter in an attempt at resolution. Should the matter not be resolved
within 60 days, then either Party may initiate an arbitration proceeding as set forth in paragraph 14 below. 

  

	1.6	 Elenac acknowledges the ownership and license rights of Purchaser with respect to the technology that will be practised at the Facility. To the extent necessary,
Purchaser hereby grants a limited license to Elenac to utilize such technology (and any other information it may disclose for use by Elenac) in connection with the performance of Elenac’s duties hereunder. Elenac further agrees that, to the
extent that technology or process improvements are made by it or its employees in the context of performing its duties hereunder, such improvements shall be the exclusive property of Purchaser to the extent that they relate to the production of
Product, and, to the extent that such improvements can be utilized in other applications, such improvements shall be licensed, including the right to sub-license, by Elenac to Purchaser, on a non-exclusive basis, at no cost to Purchaser. Purchaser
confirms that it is duly authorised and has the right to have the Product manufactured by Elenac in accordance with this Agreement and Purchaser shall indemnify and hold harmless Elenac against all loss and damage (including reasonable legal costs)
incurred by Elenac as a result of any claim that the 

  

	 	 
manufacture of the Product in accordance with this Agreement infringes the intellectual property rights of any third party (any such claim an
“Infringement Claim”), unless such Infringement Claim is proven by the Purchaser to relate exclusively to use of methods, processes, designs or other technology developed by Elenac and already employed by it prior to the Commencement Date
(as defined hereinafter). Elenac shall promptly notify the Purchaser upon becoming aware of any Infringement Claim and provide the Purchaser (at Purchaser’s cost) with such assistance as the Purchaser may reasonably require in the settlement or
defence of any such claim. 

  

	1.7	Elenac will use all reasonable efforts to provide to the Purchaser, by no later than the twentieth day of each calendar month in any calendar year (in respect of the previous
calendar month and on a year-to-date basis), information enabling the Purchaser properly to monitor and assess performance by reference to the targets set out in the then applicable operating plan, operating budget and maintenance budget for the
Facility, including without limitation such performance with respect to health, safety and environmental matters, quality, volumes and yields. 

  

	2.	MATERIALS. 

  

	(a)	Elenac agrees to provide at cost to Purchaser (1) “Materials I” (being materials used on the Site only at the Facility and, specifically, butyl lithium, cyclohexane,
isopentane, n-hexane, other process materials as agreed between Elenac and Purchaser and dedicated spare parts), and “Materials II” (being utilities, auxiliaries, maintenance materials and other consumption materials for which Elenac has a
need for other production facilities on the Site, all as agreed between Elenac and Purchaser), in the case of Materials I only if requested by Purchaser, Materials I and II jointly referred to hereinafter as
“Materials”, and (2) handling services for the Materials and for butadiene, styrene, isoprene and extender oil, all as required for the operation of the Facility. Purchaser shall itself arrange for the purchase of
butadiene, styrene, isoprene and extender oil. 

  

	(b)	Elenac warrants that it will have unencumbered title to each of the Materials sourced by it and used in the operation of the Facility. With respect to any Material sourced from a
third party that is not suitable for use in the Facility, Elenac shall use all reasonable efforts to obtain any contractual remedy available from such third party supplier, and shall pass through to Purchaser, via a credit to the Service Fee, the
incremental benefits of any remedy obtained from such third party supplier. PURCHASER ACKNOWLEDGES AND AGREES THAT THE WARRANTIES AND LIMITED LIABILITY EXPRESSLY SET FORTH IN THIS PARAGRAPH 2(b) ARE EXCLUSIVE, AND THAT ALL OTHER REMEDIES AND
LIABILITIES FOR DEFECTIVE OR NON-CONFORMING MATERIALS ARE DISCLAIMED. 

  

	(c)	Elenac shall not be liable for any deficiency in the quantity of materials deliveries (whether or not arising out of a force majeure), except to the extent arising out of
Elenac’s gross negligence or wilful breach of its obligations under this Agreement. 

  

	(d)	The actual cost of Materials will either be invoiced on receipt (Materials I) or actual consumption (Materials II), or through the Direct Component of the Service Fee (as defined in
paragraph 5), as Elenac shall determine. Except as the Parties may otherwise agree, all consumption of Materials will be determined by calibrated measuring equipment, to be installed (as a capital investment pursuant to paragraph 5.4) and maintained
at the Facility as part of the Direct Component of the Service Fee. 

  

	(e)	Title and risk of loss of Materials shall pass to Purchaser upon receipt at the Facility; in particular, with respect to Materials delivered by pipeline, immediately after passing
through the relevant metering system for the Facility. 

  

	3.	STORAGE. 

  
 Finished Product and raw materials will be stored to the extent consistent with available facilities on the Site. Product in excess of available storage space will be removed from the Site (at Purchaser’s cost as
set out in Exhibit B) on a timely basis by Elenac which will arrange for it to be stored (at Purchaser’s cost as set out in Exhibit B) at a suitable third party 

  

 
facility (such facilities having, for the avoidance of doubt, the purpose of acting as an extension of available on-site storage rather than as a marketing
depot). 
  

	4.	TERM. 

  

	4.1	This Agreement shall be in effect as of the Completion Date, as defined in the Purchase Agreement (“Commencement Date”). The Parties’ rights and
obligations hereunder are terminable by either of the Parties effective as of the 40th anniversary or any subsequent anniversary of the Commencement Date, provided that the terminating Party provides not less than 5 years prior written notice. Upon
the request of either Party the Parties shall, during the term of this Agreement, examine in good faith the feasibility of amending this Agreement by transferring to Purchaser Elenac’s staff (to the extent providing services hereunder to
Purchaser) and negotiate the financial impacts of such transfer. For the avoidance of doubt, neither Party shall have any obligation to consent to a transfer of staff requested by the other Party. 

  

	4.2	Notwithstanding the provisions of paragraph 4.1, all rights and obligations with respect to the Facility shall terminate at an earlier date as of which, notwithstanding maintenance,
repair and replacement consistent with facilities of such type and age, such Facility is no longer capable of producing Product in a safe and efficient manner. 

  

	4.3	This Agreement may be terminated by either Party on account of any material default of the other Party in carrying out the terms hereof; provided, however, that if the Party so in
default shall, within 60 business days after receipt of written notice thereof from the other Party, cure such default, then the right of cancellation shall be nullified and be of no effect. Such termination shall be effective as of the date stated
in the notice thereof, which shall not be less than 60 business days or more than 1 year from the date of such notice. If such breach cannot reasonably be cured within such 60 business day period, the Party in breach shall be deemed not to be in
breach hereunder if that Party has commenced remedial action within such period and continues to diligently prosecute the remedial action to completion within a reasonable time. 

  

	4.4	In the event of a shut down, other than for temporarily purposes, of the Facility, Purchaser shall bear all severance and other costs related to employees that are not reassigned by
Elenac (in its sole discretion); provided, that, notwithstanding the foregoing, if and to the extent the termination resulting in shut down was attributable to default by Elenac, then it shall bear all costs it incurs in connection with the shut
down. 

  

	5.	SERVICE FEE; CAPITAL INVESTMENTS. 

  

	5.1	In consideration for the services to be provided by Elenac hereunder, Purchaser will pay to Elenac a service fee (“Service Fee”). The Service
Fee shall consist of two components: (a) a direct component (“Direct Component”) covering all direct fixed and variable operating costs (including Materials and other materials supplied by Elenac hereunder)
including without limitation the cost elements identified on Exhibit B annexed hereto (with the exception of electricity, which shall be metered and invoiced pursuant to paragraph 6.1), and (b) an indirect component (“Indirect
Component”), covering the provision of general site and other services as specified on Exhibit C annexed hereto. The Indirect Component shall not be modified during the period between the Commencement Date and the 10th
anniversary thereof (“Initial Financial Term”). With respect to any term of this Agreement beyond the expiration of the Initial Financial Term, the Parties agree that the Indirect Component shall be renegotiated
for such additional periods, it being the intent of the Parties that such Indirect Component shall reflect but not exceed the cost of general site and other services on an allocated basis generally consistent with other facilities on the Site, and
it being understood that the Indirect Component in effect at any time during the Initial Financial Term may or may not reflect such costs for the periods following the expiration of such Initial Financial Term. Such renegotiation shall be commenced
not later than 1 year prior to the expiration of the Initial Financial Term. In the event that the Parties cannot agree on a renegotiated Service Fee not later than 6 months prior to the expiration of the Initial Financial Term, then the matter will
be resolved pursuant to paragraph 14. 

  

	5.2	The Service Fee shall be due and payable as scheduled regardless of the quantity of Product actually produced by the Facility and/or taken by Purchaser, notwithstanding the
occurrence of force majeure or any other reason that the Facility did not produce Product or Purchaser did not take Product. In the event that unexpectedly large increases or decreases in energy costs or similar occurrence shall result in a
significant cost increase or decrease affecting the Direct Component that is not reflected in the existing Service Fee, in the case of an increase Elenac shall have the right to nominate a modified Service Fee (subject, in any case, to final
reconciliation as contemplated by paragraph 53), subject to dispute resolution pursuant to paragraph 14, and in the case of a decrease Purchaser shall have the right to request a corresponding modification. 

  

	5.3	 On or before October 31st of each calendar year during the term of this Agreement, the Parties will meet to review Purchaser’s operating plan for the Facility,
which must be consistent with the Facility’s operating capabilities, and to establish operating and maintenance budgets for the Facility, together with a fixed amount Indirect Component and an estimated amount Direct Component for the coming
calendar year. If the Parties are unable to agree upon a Service Fee for the coming calendar year prior to the end of the current calendar year, then the Parties shall resort to an arbitration proceeding pursuant to paragraph 14 below; provided that
during the pendency of the dispute resolution process, the Service Fee for the current year will remain in effect, adjusted, as appropriate, based on the change between January 1 of the current year and January 1 of the coming year in the Index
referred to in Exhibit C. As soon as practicable after the end of each calendar year, Elenac will calculate the actual costs incurred during that year that should have been part of the Direct Component, and will retroactively bill or credit
Purchaser for any difference between the Direct Component portion of the Service Fees collected during that year and the actual Direct Component costs. Any overpayments or underpayments of greater than 10 % in the aggregate over the course of a
calendar year, shall be subject to interest at an annual rate of 3-month EURIBOR plus two percentage points (2 %) as reported on the EURIBO page published by Reuters (the “Prime Rate”), as posted on July
1 (or the next succeeding business day) of the calendar year in question. The Indirect Component shall not be 

  

	 	 
subject to adjustment based on actual costs, but shall be adjusted as necessary to reflect actual movements in the index identified on Exhibit C.

  

	5.4	If Elenac identifies a need or opportunity for additional capital investment with regard to health, safety and/or environment and the integrity of the site as a whole (exclusive of
routine maintenance capital, which is intended to be part of the Direct Component) in the Facility, it shall so notify Purchaser. In the event that Purchaser, in its reasonable discretion, agrees that a reasonable and prudent operator would consider
such investment as necessary, or in the event that Purchaser decides to make an Investment as contemplated by paragraph 55, Purchaser shall provide the necessary funds for the capital improvement if it elects to have the investment/Investment
carried out by Elenac as its contractor. In that case the funds shall be provided, at Elenac’s option, either on an as-incurred basis or following completion of the project; Purchaser shall pay the costs for the capital improvement directly, it
being understood that Purchaser will be the owner of the capital improvements, or if such ownership shall not be achievable, will be economically treated by Elenac as if Purchaser were the owner. 

  
 Nothing in this Agreement shall be deemed to require Elenac to engage in the
operation of the Facility if it reasonably deems such operation to be contrary to prudent health, safety and/or environmental practices. However, if Elenac believes that any proposed capital expenditure of the type referred to above in this
paragraph 5.4 is of such a nature that the failure to make such expenditure for the specified investment would be reasonably likely to result in Elenac deciding that continued operation of the Facility would be contrary to prudent health, safety
and/or environmental practices, it shall notify the Purchaser of that fact when bringing such proposed capital expenditure to the attention of the Purchaser. If Purchaser, in its reasonable discretion and acting in good faith, does not agree that a
reasonably and prudent operator would consider such investment as necessary, the Parties shall consult in good faith with a view to resolving the dispute between them. 
  

	5.5	Purchaser shall have the right, at its cost, to expand and/or replace the Facility (“Investment”), which expansion and/or replacement shall be treated as or part of
the Facility under the terms of this Agreement. Expansion of the Facility or erection of new Elastomers production facilities for the Product shall require the consent of Elenac, provided that such consent may only be withheld in the event that such
expansion shall have a substantial detrimental impact on the Site. The Parties will negotiate modifications to this Agreement as reasonably required in connection with the inclusion of the Investment as one part of the Facility.

  

	6.	BILLING AND TERMS OF PAYMENT. 

  

	6.1	Purchaser will pay the monthly scheduled Service Fee and the Materials, including electrical power consumed during the preceding calendar month in arrears for the prior calendar
month by Electronic Funds Transfer (EFT) no later than ten days after the date of a supporting invoice submitted by Elenac. 

  

	6.2	Late payments will bear interest at the Prime Rate (as posted as of the date the payment was due) plus three percentage points (3%). 

  

	6.3	In addition to, and without limiting any of its rights pursuant to paragraph 16, Purchaser will have the right, in good faith, to question any calculations presented by Elenac
pursuant to paragraphs 5 or 6 and request reasonable documentary justification. 

  

	7.	TAXES. 

  
 All taxes, charges and other levies imposed by any governmental or quasi-governmental entity on the manufacture, sale, shipment or use of the Product or on the Facilities (other than taxes based on Elenac’s net
income) will be paid by Purchaser. Any applicable VAT will be paid by Purchaser in addition to the Service Fee. 
  

	8.	WARRANTY. 

  
 ELENAC MAKES NO WARRANTY OR REPRESENTATION, EXPRESSED OR IMPLIED, CONCERNING THE PRODUCT OR THE FITNESS THEREOF FOR ANY PURPOSE. 
  

	9.	LIABILITIES. 

  
 Neither Party shall be liable to the other for special, indirect or consequential damages of any kind howsoever arising pursuant to this Agreement. Elenac assumes no risk whatsoever as to the result of the use of the
Product delivered pursuant to this Agreement, whether used singly or in combination with other substances. Purchaser represents that it is familiar with the characteristics of the Product and assumes all responsibility and liability for loss or
injury to persons or property arising out of the handling, use or possession of Product delivered to it, and shall indemnify and hold harmless Elenac, its shareholders and their respective directors, officers, employees or agents from and against
any such loss or injury. 
  

	10.	WAIVER. 

  
 Any waiver by the Parties of strict conformance with any of the terms and conditions of this Agreement shall not be a waiver of any subsequent failure to comply with such terms and conditions. 
  

	11.	ENTIRETY OF AGREEMENT. 

  
 This Agreement and its attachments, together with the other contracts or agreements referenced in this Agreement, contain the entire understanding between the Parties.
Any other agreements between the Parties concerning the purchase and sale of Product are hereby superseded. No interpretation, revision or amendment to this Agreement shall be effective unless stated in writing and signed by a duly authorized
representative of each of the Parties. All purchase orders or purchase acknowledgements which may be used to order or acknowledge orders for delivery of Product shall be deemed intended for record purposes only and any terms or conditions contained
therein shall not serve to add to or modify the terms and conditions of this Agreement. 
  

	12.	ASSIGNMENT; SUCCESSORS. 

  
 This Agreement, or any right or obligation hereunder, may not be assigned by either party without the prior written consent of the other Party, which consent shall not be
unreasonably withheld. This Agreement shall inure to the benefit of and be binding upon any successors or assigns. 
  

	13.	FORCE MAJEURE. 

  
 Neither Party shall be liable for any failure or delay in performance hereunder which may be due, in whole or in part, to fire, explosion, strike or labour difficulty, accident, breakdown of machinery or equipment,
inability to obtain power, labour, or materials from normal sources of supply, transportation or handling accidents or delays, act of God, act, order, regulation or request of government or other public authorities, war, riot, or civil disorder or
any other cause or causes of any nature beyond the control of the Party affected; provided that no such event shall relieve Purchaser of its obligation to make payments pursuant to paragraphs 5 and 6. 
  

	14.	GOVERNING LAW AND DISPUTE RESOLUTION. 

  
 This Agreement shall be governed by and construed under the laws of Germany. Any disputes arising between the Parties in relation to this Agreement which cannot be
settled amicably between the Parties shall be exclusively and finally settled by three arbitrators in Paris, France in accordance with the UNCITRAL Arbitration Rules as in force at the moment of commencement of the arbitral proceedings. The language
of the arbitration shall be English. The appointing authority shall be the President for the time being of the International Court of Arbitration of the International Chamber of Commerce in Paris. 
  

	15.	CONFIDENTIALITY AND RESTRICTION ON INFORMATION. 

  

	15.1	 All Product containers, specifications, raw material, quantities of Product manufactured, quantities of raw material or Product supplied or delivered, Product
formula, Product manufacturing procedures, Product packaging and repackaging and 

  

	 	 
instructions, process technology, names of customers or destinations of shipments of Product, prices, data, designs, drawings, specifications and any similar
information, and any other information relating to the business of Purchaser or Elenac and obtained or disclosed in connection with the transactions contemplated by this Agreement, whether provided in writing, orally or by observation, and further
including all technical information and data relating to the Products disclosed to Elenac pursuant to the agreement effective 1 January 1978 between Shell Internationale Research Maatschappij B.V., Elenac and Shell Research Limited, are hereinafter
called “Information”. 

  

	15.2	“Confidential Information” is Information, disclosed and designated in writing as confidential or, if disclosed other than in writing, is reduced to writing and designated
as confidential within 30 days after disclosure, expressly excluding such of the Information: 

  

	 	(i)	as can be proved by the receiving party to be generally available to the public in published literature through no fault of the receiving party; 

  

	 	(ii)	as can be proved by the receiving party to have been in its possession in written form prior to disclosure to or acquisition by the receiving party hereunder;

  

	 	(iii)	as is disclosed to the receiving party by a third party having the lawful right to make such disclosure and owing no secrecy commitment to the disclosing party.

  

	15.3	 Each Party hereby agrees (i) to keep Confidential Information confidential at all times and not disclose to any third party or use any of the Confidential
Information for any purpose other than in connection with the transactions contemplated by this Agreement or pursuant to the rights and licences granted in paragraph 1.6, and (ii) that Confidential Information shall be revealed to only those
directors, officers and employees of the receiving Party who have a need to know the Information in order to 

  

	 	 
engage in the transactions contemplated by this Agreement and who have agreed to be bound by the terms hereof. 

  

	15.4	Each Party agrees to impose the foregoing obligations of secrecy and non-use upon its directors, officers, employees, agents and representatives. 

  

	16.	AUDIT. 

  
 In connection with the estimation and reconciliation of the Direct Component portion (only) of the Service Fee determined by Elenac (the “Calculator”) pursuant to paragraph 5, Purchaser will have the
right, exercisable at any time during each calendar year or within six (6) months after its end, but no more than once with respect to any calendar year, to have independent public accountants mutually agreed upon by the Parties (a) review the
applicable books and records of the Calculator for that calendar year to determine if they are materially correct in accordance with the provisions of this Agreement, including in particular the provisions of Exhibit B, and (b) issue directly to
Elenac and Purchaser a report of their findings. If the report of said independent public accountants states that the adjustments and computations are (1) materially correct in accordance with the provisions of this Agreement, such report will be
conclusive and Purchaser will pay the reasonable fees and expenses charged for such review and report by said independent public accountants; or (2) materially incorrect under the provisions of this Agreement, such report will be conclusive and the
Calculator will pay the reasonable fees and expenses charged for such review and report by said independent public accountants. If the adjustments and computations are materially incorrect, the Service Fee for the calendar year in question will
thereafter be adjusted to comply with such corrected data, and any deficiency or underpayment in past Service Fee payments will be corrected by appropriate debits or credits to Purchaser’s account with interest at the Prime Rate (as posted as
of the date the audit commenced) calculated from the date the deficiency or overpayment was incurred. For the purpose of this paragraph, “materially” shall mean plus or minus DM 200,000,-. 
  

	17.	NOTICE. 

  
 Any notice to be given under this Agreement shall be in writing and shall be delivered personally or by post, courier or overnight delivery service (delivery charge prepaid), or by 

  

 
telecopy. Any notice shall be effective only if and when it is received by the addressee. For the purposes hereof, the addresses of Purchaser and Elenac are
as follows: 
  

			
	Elenac:	  	Elenac GmbH
	 	  	77694 Kehl
	 	  	Germany
	 	  	Attention: Geschäftsführung
		
	 Purchaser:
	  	Kraton Polymers GmbH
	 	  	Kölner Straße 6,
	 	  	65760 Eschbom, Germany
	 	  	Attention: Geschäftsführung

  
 Either Party may change its address
set forth above by appropriate notice to the other Party. 
  

									
	 Kraton Polymers GmbH
	 	 	 	 Elenac GmbH

					
	By	 	/s/    Illegible        	 	 	 	By	 	/s/    Illegible        
	 Date
	 	31st March, 2000	 	 	 	 Date
	 	31st March, 2000

  

  
 Exhibit A 
  
 [INTENTIONALLY LEFT BLANK] 
  

  
 Exhibit B 
  
 Direct Component of Service Fee (5.1) 
  
 As Direct Component of the Service Fee, Purchaser will pay to Elenac (subject to the addition
of Value Added Tax or other taxes as may be applicable by law) the following fixed and variable operating, storage, transportation and handling cost elements: 
  

	 	(i)	for Materials I and II which includes certain third party raw materials (“Fremdrohstoffe”, i.e. as set out in Elenac’s “Kostenarten 2000” - edition of March
2000, such document referred to in this Agreement as “KA2000”), repair materials (“Reparaturmaterial” as set out in KA2000), certain process materials (“Hilfsstoffe” as set out in KA2000) and certain other operating
materials (“Hilfsstoffe und Betriebsmaterial” as set out in KA2000) but excludes utilities: the actual purchase price paid by Elenac to its supplier, without any surcharge (without “Materialgemeinkosten fuer Hilfsstoffe”,
“Materialgemeinkosten Reparaturmaterial”, “Sonstiges Gemeinkostenmaterial” and “Materialgemeinkosten Hilfs- /Betriebsmaterial” as set out in KA2000). 

  
 Packaging material (“Packmittelkosten” as set out in KA2000): the
actual purchase price paid by Elenac to its supplier, without any surcharge (without “Materialgemeinkosten” as set out in K2000). 
  

	 	(ii)	for energy and utilities (quantities as actually measured if not otherwise agreed) at marginal variable cost (“Grenzkosten”, as defined in the Calculation Matrix (Status
Quarter I-III, 1999) attached as Exhibit D), including distribution losses as being incurred by Elenac, not taking into account any fixed cost of Elenac. 

  
 Fuel is remunerated according to the cost of the actual fuel mix of the power station (Cost Centre
(“Kostenstelle”) 402, price in DM/GJ), excluding tax, including EBV duty. Bought in fuel is valued at actual purchase price without any surcharge. Elenac produced fuel is valued as Heavy Fuel Oil (HOS), 1% S High according to Oil Market
Report (OMR) for Germany (West) or, if such report is not available for any reason, the Parties shall meet in good faith to agree an alternative publication or price to determine how to value such fuel. 
  

 Electricity for the Facility and its utilities minus fixed cost for the electricity-grid is remunerated
in accordance with the Calculation Matrix (Status Quarter I-III, 1999) attached as Exhibit D. 
  
 If Elenac wants to revise its energy concept by increasing the own electricity production and to reduce the external supply of electricity below the consumption of the Additional Facility, Purchaser will be given
opportunity to participate in the investment and to buy electricity from Elenac at a then reduced price level. 
  
 For all utilities produced by Elenac, the price per unit is calculated from the amount of fuel oil, electricity (prices as defined above) and bought in
auxiliaries and other materials used for their production as described in the Calculation Matrix (Status Quarter I-III, 1999) attached as Exhibit D with a minimum price of zero each. All factors are revised annually and are effective for the
following year. 
  

	 	(iii)	for direct fixed cost elements: 

  
 All direct cash fixed costs of the Facilities in plot, including packaging, storage, handling and shipping facilities exclusively dedicated to the
Facilities as defined below: 
  

	 	•	 	direct personnel cost (“Loehne”, “Gehaelter”, “Sonstige Personalkosten” and “Fremdpersonalkosten” as set out in KA2000);

  

	 	•	 	total maintenance costs comprising: 

  

	 	•	 	maintenance, external personnel at purchase cost without allocated cost elements (“Fremdleistungen fuer Reparaturen” without “Materialgemeinkosten
Fremdleistungen” and all forms of “Aufmassgemeinkosten” as set out in KA2000); 

  

	 	•	 	maintenance, own and external personnel and workshop (“Werkstattkosten”, as set out in KA2000); 

  

	 	•	 	direct engineering cost, excluding overhead (direct “Projektierungskosten”, as set out in 2000); 

  

	 	•	 	maintenance material produced in Elenac is reimbursed at full production costs (including overheads and depreciation) 

  

	 	•	 	repair material at purchase cost without allocated elements, (“Reparaturmaterial” without “Materialgemeinkosten Reparaturmaterial”) will be charged as Material I
and II (see above); 

  

	 	•	 	information technology (“EDV Kosten” as set out in KA2000); 

  

	 	•	 	on-Site transportation cost (“Verkehrskosten”, as set out in KA2000); 

  

	 	•	 	the cost of transportation of Product to consumers, to off-Site storage, to marketing depots and to processors including hauliers’ costs at the price paid by Elenac to such
hauliers and the cost of personnel for arranging and handling such transportation (“Frachtkosten” including “Frachten Ausweichlaeger” as set out in KA2000 without “Gemeinkosten”); 

  

	 	•	 	the cost of off-Site storage as described in paragraph 3 at the price paid by Elenac for such storage (“Ausweichlaeger” as set out in KA 2000 without
“Gemeinkosten”); 

  

	 	•	 	the costs of third party milling contracts (“Pulverherstellungskosten” as set out in KA2000 without “Gemeinkosten” (i.e., the price paid by Elenac under such
contracts); 

  

	 	•	 	direct cost of analysis, excluding depreciation and overheads (direct “Laborkosten”, as set out in KA2000); 

  

	 	•	 	other costs excluding depreciation and overheads (“Sonstige Kosten” and “Umbuchungen beeinflussbare Kosten” excluding “Sonstige Gemeinkosten” as set
out in KA2000); 

  

	 	•	 	insurance costs (“Versicherungen”, as set out in KA2000) not paid directly by the Purchaser to an insurer including an amount of DM 35,000 per annum in relation to
insurance to be taken out by Elenac in respect of default by the Purchaser on its obligations in connection with a temporary or permanent shut-down of the Facility; 

  

	 	•	 	local taxes (“Kostensteuern” including “Gewerbekapitalsteuer”, “Grundsteuer” and “KFZSteuer” as set out in KA2000). 

 

  
 Exhibit C 
  
 Indirect Component of Service Fee (5.2) 
  
 As Indirect Component of the Service Fee Purchaser will pay to Elenac (subject to the
addition of Value Added Tax or other taxes as may be applicable by law) following elements to cover provisions of general site and other services: 
  

	 	(i)	a fixed amount of 8.500.000.-DM per year for the initial 10 year period (or the life time of the Facility, whichever period is shorter), and 

  

	 	(ii)	an amount of 2.750.000.-DM per year (subject to Index) for the initial 10 year period (or the life time of the Facility, whichever period is shorter). 

  
 In due course prior to the expiration of the 10 year period, the parties
shall negotiate the amount payable for such services after such 10 year period. 
  

	 	(iii)	Index 

  
 As index, the “Lohn- und Gehaltssumme je Beschäftigten in der chemischen Industrie (früheres Bundesgebiet)”, published by the “Statistisches Bundesamt, Wiesbaden” shall be used
(“Index”). The payments shall be calculated as follows: 2.750.000.- * “Index actual year” / “Index 1.1.2000” 
  

	 	(iv)	The Indirect Component of the Service Fee also covers off-gas incineration from the Facility. 

  

 Exhibit D 
  
 [***] [Confidential Treatment Required]Amended and Restated Belpre Facility Sharing and Operating Agreement

 Exhibit 10.38 
  
 CONFIDENTIAL TREATMENT REQUESTED 
 WITH RESPECT TO CERTAIN PORTIONS HEREOF 
 DENOTED WITH “***” 
  
 CONFIDENTIAL 
  
 AMENDED AND RESTATED 
 BELPRE 
 FACILITY SHARING AND
OPERATING AGREEMENT 
  
 THIS AMENDED AND RESTATED FACILITIES SHARING AND
OPERATING AGREEMENT amends and restates, as of the first day of July, 1999, the FACILITY SHARING AND OPERATING AGREEMENT (“Agreement”) entered into and effective as of the first day of January, 1999, by and among: 
  

	1.	INFINEUM USA L.P. (“Infineum”), a limited partnership organized under the laws of Delaware, with its principal office at 1900 East Linden Avenue, Linden, New Jersey 07036,
USA; and 

  

	2.	SHELL OIL COMPANY (“SOC”), a corporation organized under the laws of the State of Delaware, with its principal office at 910 Louisiana, Texas 77002, USA, acting through
its agent SHELL CHEMICAL COMPANY; and 

  

	3.	SHELL ELASTOMERS LLC (“Shell” in its role as owner of an undivided ownership interest in the Shared Facilities or “Operator” in its role of operator of the
Facilities), a limited liability company organized under the laws of the State of Delaware, with its principal office at 910 Louisiana, Texas 77002, USA. 

  
 (Infineum and Shell to be jointly referred to as “Owners”). 
  
 WHEREAS 
  

	(A)	Effective October 1, 1998, SOC, at Shell’s Belpre site (the “Site”), contributed to Infineum: a one hundred percent (100%) ownership interest in the Proprietary
Equipment, Infineum Product and Infineum Materials; a one hundred percent (100%) ownership interest in the volumes of Materials specified for Infineum in Schedule 1; and an undivided ownership interest in the “G-1” Unit, the
“G-2” Unit, the hydrogen plant and the Infrastructure Assets in the respective percentages listed in Schedule 1A. SOC has also granted to Infineum non-exclusive easements across and about the Site. In connection with the foregoing, SOC and
Infineum have entered into, effective January 1, 1999, the Belpre Facility Sharing and Operating Agreement. 

  

	(B)	Shell, an Affiliate of SOC, has succeeded to the ownership and operation of the elastomers business of SOC, including the ownership and operation of the Facilities, and the rights
of SOC to use of the patents, know-how, trade secrets and other intellectual property rights necessary for the proper operation of the Facilities. 

  

	(C)	Pursuant to a Lease Agreement dated as of July 1, 1999 (the “Lease Agreement”), Shell as lessor leased to Infineum, and Infineum as lessee has leased from Shell,
additional undivided interests in the G-2 Unit, the Hydrogen Plant and infrastructure at the Site, with the result that the Owners own or possess as lessee, in aggregate, the undivided interests in Shared Facilities as set out in Schedule 1B;

  

 1 

	(D)	Shell has retained for itself the assets listed on Schedule 2 (the “Excluded Assets”) and all undivided ownership interest in the Shared Facilities not conveyed to
Infineum. 

  

	(E)	The Site is operated by Operator. 

  

	(F)	The Parties have entered into this Agreement to provide for arrangements between them regarding the sharing and operation of the Facilities, the sharing of costs and their
relationship as joint owners. 

  
 NOW, THEREFORE, in consideration
of the premises and of the mutual covenants contained herein, the Parties agree as follows: 
  
 ARTICLE 1: ASSIGNMENT; DEFINITIONS 
  

	1.1	ASSIGNMENT 

  
 SOC hereby assigns, transfers, and conveys to Shell all of its rights and privileges to and under this Agreement (whether as Owner or Operator), and Shell
accepts such rights and privileges. SOC also hereby delegates to Shell all of SOC’s duties and obligations (whether as Owner or Operator), and Shell accepts and agrees to perform such duties and obligations. Infineum accepts Shell as Owner and
Operator under this Agreement, and Infineum, Shell and SOC agree that, upon Shell ceasing to be an Affiliate of SOC, but not before, SOC shall be released from any and all liability or responsibility for the performance of this Agreement.

  

	1.2	DEFINITIONS 

  
 Capitalized terms used herein have the following meanings: 
  
 “Affiliate” means with respect to Infineum, Infineum Holdings B.V., a Dutch company (“IHBV”), Infineum Singapore Pte, a company
organized under the laws of Singapore (“Infineum Singapore”) and any company controlled by Infineum, IHBV or Infineum Singapore; and with respect to any other entity, means any entity controlling, controlled by or under common control
with, such other entity. For purposes of applying this definition, one entity shall be deemed to control another entity by reason of holding or otherwise controlling by proxy or agreement more than fifty (50%) percent of the votes exercisable at a
general shareholders meeting (or its equivalent) of the entity in question; 
  
 “Agreement” means this Amended and Restated Facility Sharing and Operating Agreement, including (i) any schedules to this Agreement and (ii) any amendments hereto to which the Parties may consent from time
to time. Words as “herein”, “hereinafter”, “hereof”, “hereto”, and “hereunder” refer to this Agreement as a whole, unless the context otherwise requires; 
  
 “Annual Forecast” has the meaning given to this term in Article
3.6.3; 
  

 2 

 “Annual Plan & Budget” means an Annual Forecast approved by both Owners; 
  
 “Available Time” means the time that a Shared Facility is
available for use by an Owner, subject to adjustment pursuant to Articles 2.2.2 and 2.4.5; 
  
 “Backup Capability” has the meaning given to this term in Article 3.4.6; 
  
 “Capacity Rights” has the meaning given to this term in Article 2.2.1; 
  
 “Capacity Usage” means the actual time of usage by an Owner of an Unit, including preparation, production, test
runs and/or product development, unscheduled shutdowns not exceeding forty-eight (48) hours in any seventy-two (72) hour period, and clean-up time. For the purpose of this definition, usage does not include scheduled shutdowns other than preparation
or clean-up, or unscheduled shutdowns exceeding forty-eight (48) hours in any seventy-two (72) hour period; 
  
 “Capital Expenditure” means any expenditure that should be capitalized according to Operator’s accounting practices for its Financial
Reporting Accounts; 
  
 “Capital Improvement” means any
debottleneck, expansion or other improvement of or work to the Facilities, the cost of which is a Capital Expenditure; 
  
 “Charges” means Direct Site Costs, Overheads and the Risk Premium, subject to Article 3.4.1 with respect to specific inclusions in or exclusions
from the Charges; 
  
 “Claim” means any existing,
future or threatened claim, demand, suit, action, investigation, proceeding, governmental action or cause of action of any kind or character (in each case, whether civil, criminal, investigative or administrative), known or unknown, under any
theory, including those based on theories of contract, tort, statutory liability, strict liability, employer liability, premises liability, products liability, breach of warranty, malpractice or infringement or misappropriation of intellectual
property rights; 
  
 “Commencement Date” means January
1, 1999; 
  
 “Commencement Date Capacity Rights” has
the meaning given to this term in Article 3.15.4; 
  
 “Confidential Information” means (i) business information relating to the financial condition, organization, results of operation, methods of operating, products, customers, strategic plans and/or other attributes of the business
of a Party or its Affiliates, and (ii) all technical information relating to the business of a Party or its Affiliates, including technological know-how, research and development data, products information, processes and application technology, and
technical information relating to plants, including feedstock, plant equipment, plant performance, plant capacity, plant debottleneck capability, plant safety and/or plant energy systems, results of operation and methods of operation; 
  
 “Contractor” means an independent contractor or subcontractor at
any tier; 
  
 “Conversion Factors” has the meaning
given to this term in Article 3.15.1; 
  

 3 

 “Corrective Action Plan” has the meaning given to this term in Article 3.11.4; 
  
 “Default Rate” means the Local Inter-Bank Rate plus one and a half
percent (1.5%); 
  
 “Direct Site Costs” means the
direct costs (without mark-up or profit factor, except in accordance with Article 3.4.13, and after deducting any revenue or credits generated) incurred at the Site by Operator in the operation of the Facilities for Infineum (other than Capital
Expenditures), including personnel costs for the personnel of Operator directly involved in the operation of the Facilities for Infineum, and including the costs of services, utilities, Materials and facilities provided or procured by Operator
pursuant to Article 3.1.5. If personnel devote only part of their time to operation of the Facilities for Infineum, an equitable allocation of their time shall be made and only the corresponding pro rata share of the personnel costs for such
personnel shall be included in Direct Site Costs. Similarly, if other costs are incurred at the Site partly in connection with operation of the Facilities for Infineum and partly in connection with other activities, an equitable allocation of such
costs shall be made to Direct Site Costs. For avoidance of doubt, depreciation is not a Direct Site Cost; 
  
 “Disclosing Party” has the meaning given to this term in Article 4.3.1; 
  
 “Eligible Indemnitees” means, with respect to any Party, its Affiliates and their respective employees, officers
and directors (or equivalent); 
  
 “Eligible Spare
Capacity” means any spare capacity of an Owner that is not Ineligible Spare Capacity of such Owner; 
  
 “Employee Claim” means any Claim for employment-related personal injury, sickness or illness or death of any employee of Shell or an Affiliate
of Shell or Infineum or an Affiliate of Infineum, as the case may be, brought against either Party or its Affiliate; 
  
 “Environmental Claim” means any Claim arising under any applicable statute, law, regulation, ordinance, rule, common law, judgment, order or
decree or similar legal requirement relating to the protection of the environment or public welfare from the actual or potential exposure or effects of exposure to any actual or potential release, discharge, disposal or emission (whether past or
present) of any hazardous substance, or the manufacture, processing, distribution, use, treatment, labeling, storage, disposal, transport or handling of any hazardous substance; 
  
 “Excluded Assets” means the assets listed on Schedule 2; 
  
 “Exit” means, when used as a noun, a permanent termination of the
Exiting Owner’s activities at the Facilities, and, when used as a verb, permanently terminate the Exiting Owner’s activities at the Facilities; 
  
 “Exiting Owner” has the meaning given to this term in Articles 4.8.3 and 4.8.4; 
  
 “Facilities” means the Proprietary Equipment, Shared Facilities and any other real property or tangible personal
property owned or leased by Infineum in whole or in part, that now or in the future is located within the Site; 
  

 4 

 “Field of Operations” has the meaning given to this term in Schedule 5; 
  
 “Financial Reporting Accounts” means those books and records
maintained by a Party for financial reporting to its parent company or corporate headquarters, which shall be in accordance with generally accepted accounting principles and which shall be applied on a consistent basis; 
  
 “Fixed Costs” means Overheads and those Direct Site Costs which do
not vary primarily based on usage or production, including personnel costs for all personnel of Operator directly involved in the operation of the Facilities and including the commercially reasonable cash costs, including personnel costs (including
those actuarially determined) resulting from Fixed Cost reduction efforts; 
  
 “Force Majeure” has the meaning given to this term in Article 4.6; 
  
 “Hardship” has the meaning given to this term in Article 4.7; 
  
 “HSE” means health, safety and/or environment; 
  
 “Ineligible Spare Capacity” means any incremental Capacity Rights of an Owner that result from a Capital
Improvement to the Shared Facilities that is made following the Commencement Date as to which the other Owner has elected not to participate by not approving such Capital Improvement pursuant to Article 2.4.2; 
  
 “Infineum” means Infineum USA LP.; 
  
 “Infineum Materials” means any Materials intended for use solely
in Infineum Operations; including, without limitation, isoprene acquired by Infineum for Infineum Operations; 
  
 “Infineum On-Site Representative” has the meaning given to this term in Article 3.14; 
  
 “Infineum Operations” means the manufacture of Infineum Product
and ancillary activities conducted for the benefit of Infineum; 
  
 “Infineum Owner” has the meaning given to this term in Article 2.6.1; 
  
 “Infineum Product” means product manufactured within the Facilities for Infineum for sale or use within the Field of Operations and finished product originally contributed to Infineum as listed on Schedule
1. Infineum Product shall include both On-Spec Infineum Product and Off-Spec Infineum Product; 
  
 “Infrastructure Assets” means assets at the Site used for the provision of utilities or services, and common facilities serving more than one
plant at the Site; 
  
 “Initial Off-Spec Infineum
Product” means Infineum Product that fails to meet any of the specifications upon initial testing and before any refinishing, reprocessing or retesting; 
  

“Intellectual Property Claim” means any Claim by a Third Party for infringement or misappropriation of intellectual property rights;

  

 5 

 “Interest Rate” means the Local Inter-Bank Rate minus a quarter percent (0.25%); 
  
 “Lien” means any mortgage, pledge, charge, encumbrance, security
interest, or other lien, whether based on common law, constitutional provision, statute or contract; 
  
 “Local Inter-Bank Rate” means the thirty (30) day London Inter-Bank Offer Rate, as it appears daily on the Reuters Screen LIBOR page as of 11.00
a.m., London England time; 
  
 “Loss” means any loss,
cost, liability or expense, settlement, damage of any kind, judgment, obligation, charge, fee, fine, penalty, court cost and/or attorneys’ fee or disbursement (at all levels, including appellate); 
  
 “Managerial Personnel” means any person employed by a Party or its
Affiliate as a director or other corporate officer or who occupies a managerial position in such a Party with direct responsibility for the performance of this Agreement or any component thereof; 
  
 “Manufacturing Technical Service” means routine or periodic
alterations to existing Infineum Products, production lines, manufacturing processes, and other ongoing operations, even though those alterations may represent improvements; 
  
 “Market Rate” means the then-prevailing charges for comparable services, utilities, materials and/or facilities in
comparable quantities and under comparable terms and conditions efficiently supplied or deliverable by Third Parties to other petrochemical industrial users of such services, utilities, materials, and/or facilities in the locality of the Site;

  
 “Materials” means any feedstock and other raw
materials, intermediates, catalysts, process chemicals and other supplies, fuel, store stock and other materials for use at the Facilities; 
  
 “Metering Devices” has the meaning given to this term in Article 3.8; 
  
 “NBV” (Net Book Value) means as to an Owner’s interest in Shared Facilities, the original cost of such
assets, plus the original cost of subsequently added Capital Improvements to such assets, less cumulative depredation which such Owner records in its Financial Reporting Accounts; 
  
 “Non-Consequential Damages” means (i) expenses reasonably incurred by a Party or its customer or any distributor,
retailer or end user in inspection, receipt, transportation, care and custody, and return and/or disposal of defective or non-conforming Product and (ii) costs of replacement (including transportation) of defective or non-conforming Product, in each
case if and to the extent the defect or non-conformance is caused by the other Party’s Wilful Misconduct at the Site; 
  
 “Non-Exiting Owner” has the meaning given to this term in Article 4.8.3 and 4.8.4; 
  
 “Off-Spec Infineum Product” means any Infineum Product that is not
On-Spec Infineum Product. Off-Spec Infineum product shall include Initial Off-Spec Infineum Product; 
  

 6 

 “On-Spec Infineum Product” means (i) Infineum Product meeting specifications, including after
refinishing, reprocessing or retesting at the Site and (ii) any Infineum Product as to which Infineum would realize full value, in concentrate or otherwise; 
  
 “Operator” means Shell Elastomers LLC in its role of operator of the Facilities for Infineum and Shell Elastomers LLC’s successors to this
Agreement; 
  
 “Overheads” means, without duplication
of any Direct Site Cost, an equitable allocation to Infineum Product and/or the services, utilities, Materials and facilities provided by Operator to Infineum hereunder, of the costs at the Site related to management and operation of the Site that
are not specifically attributable to a certain plant at the Site (without mark-up or profit factor, except in accordance with Article 3.4.13), including: Site management and general services; fire fighting, security and protection of HSE (including
the medical department); office services, accommodation and catering; ad valorem taxes; and off-site services that directly benefit the Facilities, as listed on Schedule 10. This definition excludes any costs of corporate services other than those
listed on Schedule 10, such excluded corporate service costs to include the fees paid to Operator’s parent company, any Affiliated service company or any other Affiliate, division, business unit or headquarters as a share of corporate-overhead.
Overheads for the calendar year 1999 shall be as specified on Schedule 6 and shall be substantially consistent with those charged to Infineum’s predecessor in interest prior to the Commencement Date, except where this Agreement or the Schedules
provide otherwise (e.g. excluding costs of corporate services other than those listed on Schedule 10); 
  
 “Owner” means Shell or Infineum; 
  
 “Party” or “Parties” means Shell, as Owner and Operator, and Infineum, together with their successors and permitted assigns;

  
 “Party 1” has the meaning given to this term in
Article 4.4.10; 
  
 “Party 2” has the meaning given to
this term in Article 4.4.10; 
  
 “Principles of
Operatorship” has the meaning given to this term in Article 3.2; 
  
 “Product” means Infineum Product or Shell Product, as the case may be; 
  
 “Proprietary Equipment” means any existing or future equipment one hundred percent (100%) owned by Infineum; 
  
 “Receiving Party” has the meaning given to this term in Article 4.3.1; 
  
 “Risk Premium” means a consideration for the indemnification obligations of Operator (and SOC to the extent
applicable under this Agreement) under Article 4.4, as Owner and Operator, other than for its Wilful Misconduct equal [***] [Confidential Treatment Requested] per annum, as adjusted on January 1 of each year beginning with the second full calendar
year following the Commencement Date in accordance with the change in the Consumer price Index (CPI-U) (All Items, U.S. Cities Average; 1982-1984=100) since the Commencement Date, as to the first adjustment, or since the prior January 1, as to each
year thereafter, based on the most recent statistics available at the time of adjustment; 
  

 7 

 “Rules” has the meaning given to this term in Article 4.9.2; 
  
 “Scheduling Team” has the meaning given to this term in Article
3.6.2; 
  
 “Shared Facilities” means Facilities in
which both Owners have an ownership interest; 
  
 “Shared
Materials” means Materials which are intended for use by both Shell and Infineum; 
  
 “Shell” means Shell Elastomers LLC in its role as owner of an undivided ownership interest in the Shared Facilities; 
  

“Shell Materials” means any Materials intended for use solely in Shell operations; 
  
 “Shell Owner” has the meaning given to this term in Article 2.6.2;

  
 “Shell Product” means all product manufactured
within the Facilities other than Infineum Product; 
  
 “Site” means Shell’s chemical complex at Belpre, Ohio as described in Schedule 7 attached hereto and as the same may change from time to time; 
  
 “Storage Capacity Rights” means Capacity Rights with respect to the warehouse and any other Shared Facilities
designated for storage as described in Article 2.2.1(e); 
  
 “SOC” means Shell Oil Company; 
  
 “Taken” means transferred through a Taking; 
  
 “Taking” means a transfer of property through expropriation, condemnation or other eminent domain proceedings, or a transfer in lieu of expropriation, condemnation or eminent domain proceedings; 
  
 “Third Party” means any natural or legal person other than Shell,
Infineum or their respective Affiliates; 
  
 “Third Party
Claim” means any Claim that is not an Employee Claim, an Environmental Claim, an Intellectual Property Claim, or a Claim by a Party or its Affiliate for its own Losses; 
  
 “Transferee” has the meaning given to this term in Article 2.6.4; 
  
 “Transferor” has the meaning given to this term in Article 2.6.4;

  
 “USD” (United States Dollars) means the currency of
the United States of America; 
  
 “Unit” means the
units and ancillary facilities at the Site commonly known as “G-1” and “G-2” and any other processing or manufacturing unit and ancillary facilities that hereafter may be converted or constructed at the Site to produce Infineum
Product and that the Parties agree to treat as Facilities; 
  

 8 

 “Variable Costs” means those Direct Site Costs incurred by Operator which are not Fixed Costs;

  
 “Wilful Misconduct” means an intentional, conscious
or reckless disregard by Managerial Personnel of good and prudent industry practice or of any of the terms of this Agreement in disregard of avoidable and harmful consequences, but shall not include any act, omission or error of judgment or mistake
made in good faith of any function, authority or discretion vested in or exercisable by such Managerial Personnel or at the express direction of the other Party. The person alleging Wilful Misconduct by another person must demonstrate such Wilful
Misconduct by a preponderance of the evidence. 
  

	1.3	INTERPRETATIONS 

  

	1.3.1 	Except as is otherwise provided in this Agreement, references in this Agreement to statutory provisions shall be construed as references to those provisions as they may be amended
or re-enacted from time to time. 

  

	1.3.2 	Unless the context otherwise requires, words importing the singular shall include the plural, words importing the masculine gender shall include the feminine and neuter genders and
vice versa, and words importing a natural person shall include a legal person and vice versa. The use of the terms “including” or “include(s)” shall in all cases herein mean “including, without limitation,” or
“include(s), without limitation,” respectively. 

  

	1.3.3 	The Table of Contents and headings in this Agreement are inserted for convenience of reference only and shall not be taken into consideration in the interpretation or construction
of this Agreement. 

  
 ARTICLE 2: FACILITY SHARING

  

	2.1	USE OF THE FACILITIES, SHARED MATERIALS AND PRODUCT 

  

	2.1.1 	The Owners shall share the Shared Facilities in accordance with the terms and provisions of this Agreement. 

  

	2.1.2 	The Owners agree that the Facilities shall be operated by Operator. 

  

	2.1.3 	Infineum shall be limited in its use of the Facilities to the manufacture of Infineum Product and test runs, product development and other ancillary uses within the Field of
Operations, and Infineum shall only sell, use or dispose of Infineum Product within the Field of Operations. Shell shall be limited in its use of the Shared Facilities to (i) perform its obligations under this Agreement (as Owner and as Operator)
and (ii) any other use, except that Shell may not use the Shared Facilities to manufacture [***] [Confidential Treatment Required], as such are described [***] [Confidential Treatment Required], or to manufacture [***] [Confidential Treatment
Required] ultimately intended for use in manufacturing [***] [Confidential Treatment Required]. 

  

	2.1.4 	 Each Party shall ensure that it and all persons related to such Party, including directors, officers, employees, agents, representatives, contractors, suppliers,
customers or other business invitees of such Party entering the Site, shall comply with the non-discriminatory rules and regulations in effect at the Site from time to time concerning 

  

 9 

	 	 
HSE, the policy described in Article 3.10.3 and the reasonable, non-discriminatory, rules and regulations in effect at the Site from time to time concerning
security and/or administrative matters. Also, each entry of such persons shall be subject to the provisions of Article 4.3. 

  

	2.1.5 	Each Owner shall use its reasonable efforts to (i) allow both Owners to fully use their respective Capacity Rights, (ii) enhance the efficiency of the Shared Facilities, and (iii)
have both Owners benefit from such efficiency, without favoring one Owner over the other Owner. 

  

	2.1.6 	Neither Owner shall without the prior written consent of the other Owner voluntarily demolish or remove any Shared Facilities. Neither Owner shall without the prior written consent
of the other Owner make modifications to any Shared Facility which could be reasonably expected to result in a decrease in the protection of HSE and/or a decrease in the quantity, quality, reliability or competitiveness of Infineum Product or Shell
Product, except, however, if and to the extent (i) there is no decrease in the protection of HSE, (ii) the first Owner has engaged in a timely, full and fair consultation with the other Owner and (iii) the first Owner fully compensates the other
Owner for any decrease in the quantity, quality, reliability or competitiveness of the other Owner’s Product. Approval of an Annual Plan & Budget or a Capital Improvement approved in accordance with Article 2.4.2 or Article 3.1.5(y)
providing for such demolishing, removal or modification of Shared Facilities shall constitute written consent as may be required in the previous sentences. 

  

	2.1.7 	Neither Owner shall, in anticipation of, or in the event of, a shortage of supplies or materials (such as, without limitation, isoprene or styrene), without the prior written
consent of the other Owner, alter or change its agreed production schedule in order to increase its production at the expense of the other Owner. 

  

	2.2	CAPACITY RIGHTS 

  

	2.2.1 	Subject to the terms and provisions of this Agreement, each calendar year, the Owners shall have the following rights of usage of the Shared Facilities (“Capacity
Rights”): 

  

	 	a.	with respect to the “G-1” Unit, Infineum shall have [***] [Confidential Treatment Required] of the Available Time for such “G-1” Unit during the calendar
year and Shell the remaining [***] [Confidential Treatment Required]; 

  

	 	b.	with respect to the “G-2” Unit, Infineum shall have [***] [Confidential Treatment Required] of the Available Time for such “G-2” Unit during the calendar
year and Shell the remaining [***] [Confidential Treatment Required]; 

  

	 	c.	with respect to the hydrogen plant, Infineum shall have [***] [Confidential Treatment Required] of the time such hydrogen plant is available for usage during the calendar year
and Shell the remaining [***] [Confidential Treatment Required]; 

  

	 	d.	with respect to Shared Facilities other than the “G-1” Unit, the “G-2” Unit and the hydrogen plant, each Owner shall have the right to use such assets provided
such use does not limit use by the other Owner; and 

  

	 	e.	with respect to the warehouse and any other Shared Facilities (other than the “G-1” Unit, the “G-2” Unit and the hydrogen plant) where use by one Owner limits
use by the other Owner, the Owners shall share the use of such assets in accordance with their relative ownership interests in such Shared Facilities; that is, [***] [Confidential Treatment Required] for Infineum and [***] [Confidential
Treatment Required] for Shell. 

  

 10 

	2.2.2 	Owners will share time lost because of scheduled maintenance and inspection shutdowns other than preparation or clean-up, and unscheduled shutdowns exceeding forty-eight (48) hours
in any seventy-two (72) hour period, pro rata to their Capacity Rights with respect to the Shared Facility in question. Any unscheduled shutdowns not exceeding forty-eight (48) hours in any seventy-two (72) hour period shall be for the sole account
of the Owner whose Capacity Rights are being used at the time of the unscheduled shutdown. 

  

	2.2.3 	In the event that either Owner desires temporary Capacity Usage of any Shared Facility greater than its Capacity Right in such Shared Facility allows, and the other Owner has
Eligible Spare Capacity, then the other Owner shall make such Eligible Spare Capacity available. Eligible Spare Capacity controlled by Infineum shall be deemed to be taken first from the individual interests leased by Infineum from Shell, and only
after all such leased undivided interest is exhausted, from the undivided interests owned by Infineum. In exchange for Eligible Spare Capacity the first Owner shall pay the other Owner (i) a prorated share of the Fixed Costs for the Facilities in
question (based on the ratio of the spare capacity utilized by the first Owner to the total Capacity Rights of both Owners in the Facilities in question), (ii) a prorated share of the depreciation or amortization deduction (based on the NBV of the
other Owner’s interest in the Facilities in question, provided that the payment shall be zero when the NBV is zero), and (iii) a prorated capital charge calculated for any fiscal year based on the NBV of the other Owner’s interest in the
Facilities in question, provided that the payment shall be zero when the NBV is zero. In the case of Eligible Spare Capacity taken from Infineum’s leased interests, the depreciation and capital charge elements will not be charged, and a
pro-rata portion of the lease payment that Infineum pays in respect of such interests shall be repaid by Shell. For the period from Commencement Date until the end of the calendar year, and for the four (4) successive calendar years thereafter, the
rate to be used for calculating the capital charge as described in the previous sentence shall be twelve percent (12%) per annum. For each five (5) year period thereafter, the Owners shall agree on an applicable rate prior to the beginning of such
five (5) year period. If and to the extent the other Owner would need the capacity initially made available to the first Owner for its own operations, the other Owner would be under no obligation to continue to make such capacity available to the
first Owner under this Article 2.2.3 and such other Owner shall not be liable to the first Owner for any Loss resulting from such discontinuation. 

  

	2.2.4 	In order to determine whether spare capacity of an Owner is Eligible Spare Capacity or Ineligible Spare Capacity for purposes of Article 2.2.3, such Owner shall be deemed to have
first utilized any Capacity Rights it may have at the Commencement Date, any Capacity Rights it may have acquired from the other Owner following the Commencement Date and any Capacity Rights that result from any Capital Improvement to the Shared
Facilities that is made following the Commencement Date as to which such Owner has participated in accordance with Article 2.4.2, subject in each case to any reductions of such Capacity Rights that may have occurred, and to have last utilized any
Capacity Rights such Owner may have that result from any Capital Improvement to the Shared Facilities that is made following the Commencement Date as to which the other Owner has elected not to participate by not approving such Capital Improvement
pursuant to Article 2.4.2. 

  

	2.2.5 	 In the event that either Owner desires, on a permanent basis or for a stated period, Capacity Usage of any Shared Facility greater than its Capacity Right in such
Shared 

  

 11 

	 	 
Facility allows, and the other Owner has and/or anticipates that it will have in the future or for the stated period, spare capacity with respect to such
Shared Facility, the Owners shall negotiate in good faith a purchase by the first Owner on a permanent basis or for a stated temporary period, of all or portion of the other Owner’s Capacity Right (and in case where such purchase is not for a
temporary period, the corresponding ownership interest of the other Owner) in such Shared Facility at mutually agreed upon price and terms. Alternatively, or if the Owners cannot reach agreement on such purchase, the Owner desiring to expand
capacity may do so by causing a Capital Improvement to be made in accordance with Article 2.4. 

  

	2.2.6 	This Agreement amends by contract the possessory and use rights of Infineum to the Facilities as granted under the Easement Agreement (With Limited Possessory Rights) dated as of
October 1,1998 between SOC and Infineum. 

  

	2.3	FIXED COSTS 

  
 Subject to the next sentence and the provisions of the Articles 2.2.3, 2.2.5, 2.4.4, 4.8.3 and 4.8.4, the Fixed Costs relating to the Shared Facilities
that are incurred for the benefit of both Owners shall be shared between the Owners in accordance with their respective ownership interests in such Shared Facility. Any incremental Fixed Costs relating to the Shared Facilities that are incurred for
the benefit of only one Owner shall be for the sole account of the benefiting Owner. 
  

	2.4	CAPITAL IMPROVEMENTS 

  

	2.4.1 	Capital Improvements shall be constructed or procured and managed by Operator and will be subject to Operator’s design, engineering, operating and HSE standards, and, if an
expansion area is required, subject to such Capital Improvement being able to be physically accommodated at the Site or on land in the vicinity of the Site that is available for purchase or lease. If the costs of a Capital Improvement are solely for
the account of Infineum and the use of a separate Contractor will not adversely impact other work to be contemporaneously performed by or through Operator, in Operator’s reasonable judgment, then Infineum shall have the right to do the
procurement for such Capital Improvement instead of Operator, provided that any contractors engaged by Infineum shall be subject to the reasonable approval of Operator. 

  

	2.4.2 	 Each Party shall have the right to propose any Capital Improvement to the Shared Facilities. The proposing Party shall present to the non-proposing Party relevant
information, data and documentation with respect to such Capital Improvement. Operator shall provide each Owner with a general description of the proposed Capital Improvement and with a detailed description of the estimated costs of the proposed
Capital Improvement and of the expected impact of the proposed Capital Improvement on volume, quality, Fixed and Variable Costs and reliability of production at the Shared Facilities in question, which detailed description shall provide the level of
detail corresponding to the level of detail of information used by such Owner in preparation of appropriation requests for its internal capital expenditure approval procedure. Costs incurred by Operator in providing information pursuant to this
Article 2.4.2 shall be considered costs of the proposed Capital Improvement and shall be allocated in accordance with Article 2.4.4. However, Shell, as Owner and as Operator, may elect not to disclose any proprietary technology or business aspects
of the Capital Improvement to Infineum. Both Owners shall be deemed to have approved Capital Improvements 

  

 12 

	 	 
which are mandated by regulatory authorities or are reasonably deemed necessary by Operator for the protection or enhancement of HSE to the same standards as
are practiced at the Site as a whole. However, with respect to such Capital Improvements, the Operator shall be required to have timely, full and fair advance consultation with the Owners and to take their comments into due consideration. All other
Capital Improvements to Facilities will be submitted to both Owners for approval. Each Owner shall have sixty (60) days from receipt of the information on the Capital Improvement proposal to approve such proposal, failing which such Owner shall be
deemed to have elected not to approve. In case one Owner does not approve a Capital Improvement proposal, the other Owner may nevertheless approve such Capital Improvement and cause Operator to procure or construct it, provided that the Capital
Improvement shall have no material adverse effect on the operations of the non-approving Owner, unless the approving Owner fully compensates the non-approving Owner for any decrease in the quantity, quality, reliability or competitiveness of the
other Owner’s Product as a result of such Capital Improvement. Minor Capital Improvements shall be deemed to be approved by both Owners provided that the same are (i) within the discretionary Capital Expenditure authority of the plant manager
of the Facilities and (ii) within the line item allocation for minor Capital Improvements as contained in the applicable Annual Plan & Budget. 

  

	2.4.3 	At all times, either Party may propose to add, drop, postpone, bring forward or alter Capital Improvements by following the procedure described in Article 2.4.2.

  

	2.4.4 	Costs of a Capital Improvement to Shared Facilities approved by both Owners, and costs of studies and other project costs incurred with the support of both Owners for proposed
Capital Improvements that are not implemented, shall be for the account of and paid by both Owners according to the anticipated use by each of them of such Capital Improvement, and appropriate adjustments, where necessary, will be made in the
ownership interests and Capacity Rights of the Owners in the portion of the Shared Facilities being improved. For purposes of the immediately preceding sentences only, unless the Owners agree otherwise, if both Owners elect to participate in a
Capital Improvement, the anticipated use by each of them of such Capital Improvement shall be deemed to be in accordance with their respective percentage ownership interests (not including Infineum’s leased interests), then existing in the
Shared Facility to which the Capital Improvement relates. The cost of capital improvements properly allocable to Infineum’s leased interests shall be recovered under applicable provisions of the Lease Agreement. Costs of a Capital Improvement
to Shared Facilities approved by only one Owner shall be for the account of and paid by such approving Owner. In such event, the non-approving Owner shall not be entitled to receive the benefits in costs savings, performance enhancement, capacity
increase and/or reliability resulting from such Capital Improvement and, if necessary, appropriate adjustments shall be made to the Capacity Rights and/or ownership interests in the improved Shared Facilities and/or in the allocation of costs or by
capital charges and/or to the curtailment procedures and/or in any other way, so that the non-approving Owner remains in the same position that it would have been in if such Capital Improvement had not been made. 

  

	2.4.5 	The Owners will share time lost because of shutdowns required for any Capital Improvement (in excess of any scheduled shutdown included in the Annual Plan & Budget, if the
implementation of the Capital Improvement coincides with any such scheduled shutdown) in proportion to their respective shares in the costs of such Capital Improvement, unless the Owners agree otherwise. 

  

 13 

	2.4.6 	Unless the Owners agree otherwise, the Owners’ ownership interests in the Capital Improvement to a Shared Facility, including with respect to any land purchased for a Capital
Improvement, and their Capacity Rights with respect to such Capital Improvement, shall be in direct proportion to their respective payments for such Capital Improvement pursuant to Article 2.4.4. 

  

	2.4.7 	Any financial, fiscal or other benefits enjoyed by any Party in connection with any Capital Improvement to the Shared Facilities shall be appropriately taken into consideration when
establishing the costs of such Capital Improvement. 

  

	2.4.8 	The participating Owners shall pay for any Capital Improvement according to a payment schedule agreed with the Operator, which payment schedule is intended to be working capital
neutral to Operator. 

  

	2.5	OWNERSHIP OF PRODUCTS AND MATERIALS 

  

	2.5.1 	Title to Infineum Product shall pass to Infineum at the time it is determined in accordance with applicable testing procedures that the Infineum Product meets specifications or, in
case of Off-Spec Infineum Product, at the time Infineum requests transfer of title to such Off-Spec Infineum Product. Shell will own all Shell Product and all Infineum Product unless and until title transfers to Infineum. 

 

	2.5.2 	Infineum will own one hundred percent (100%) of Infineum Materials, whether procured by Operator or Infineum. Infineum Materials may only be used in Infineum Operations.

  

	2.5.3 	Infineum will own the Shared Materials in the volumes shown on Schedule 1 (as adjusted from time to time pursuant to Article 3.4.4), and Shell will own the Shared Materials in
excess of the volumes owned by Infineum. Both Owners grant Operator the right to use the Shared Materials for Infineum or Shell, whether owned by Infineum or Shell. 

  

	2.6	TRANSFERS AND LIENS 

  

	2.6.1 	Infineum, and any permitted successor hereunder (for the purpose of this Article 2.6: “Infineum Owner”), may transfer all but not part of its interest in the Facilities to
its respective Affiliate without the consent of Shell Owner. Any other proposed sale, lease or other conveyance or transfer of all or any part of Infineum Owner’s interest in the Facilities shall require the prior written approval of Shell
Owner, which approval shall not be withheld, unless the proposed transferee is not sufficiently financially sound to perform its obligations under this Agreement, or the proposed transferee does not possess the minimum technical ability to perform
this Agreement; provided, however, if the proposed transfer is for less than all of the interest of Infineum Owner in the Facilities, then such consent may be withheld in Shell Owner’s sole discretion. At the request of Infineum Owner at any
time, Shell Owner will agree to be reasonable in negotiating “qualified transferee” criteria for automatic approval of transferees of Infineum Owner meeting specified standards. 

  

	2.6.2 	 Shell, and any permitted successor hereunder (for the purpose of this Article 2.6: “Shell Owner”), may transfer all but not part of its interest in the
Facilities to its respective Affiliate without the prior consent of Infineum Owner. Shell (or its Affiliate) shall also have 

  

 14 

	 	 
a one-time right to transfer all but not part of its interest in the Facilities to any successor to the world-wide elastomers business of Shell and its
Affiliates without the prior consent of Infineum Owner. Any other proposed sale, lease or other conveyance or transfer of all or any part of Shell Owner’s interest in the Facilities shall require the prior written approval of Infineum Owner,
which approval shall not be withheld, unless the proposed transferee is not sufficiently financially sound to perform its obligations under this Agreement, or the proposed transferee does not possess the minimum technical ability to perform this
Agreement; provided, however, if the proposed transferee (i) does not have the right to use the patents, know-how, trade secrets and other intellectual property rights as are necessary for the proper operation of the Facilities, or (ii) does not
acquire all of Shell Owner’s interest in the Facilities, then such consent may be withheld in Infineum Owner’s sole discretion. At the request of Shell Owner at any time, Infineum Owner will agree to be reasonable in negotiating
“qualified transferee” criteria for automatic approval of transferees of Shell Owner meeting specified standards. 

  

	2.6.3	For purposes of this Article 2.6, the “Affiliate” definition in Article 1 shall be deemed modified by changing “more than fifty percent (50%)” under (i) of such
definition to “fifty percent (50%) or more”. 

  

	2.6.4	If an Owner (the “Transferor”) sells, leases or otherwise transfers all or portion of its interests in the Facilities to another party (the “Transferee”) in
accordance with Article 2.6.1 or Article 2.6.2 above, then such Transferee shall be bound by all the provisions of this Agreement. The Transferor shall procure as a condition precedent to any sale, lease or transfer of all or portion of its share in
the Facilities that such sale, lease or transfer is executed simultaneously with a separate agreement between the Transferee and the other Owner to the effect that the Transferee accepts and agrees to be fully and unconditionally bound by the rights
and obligations of the Transferor under this Agreement. Upon the delivery of such assumption agreement by a Transferee that is not an Affiliate of the Transferor, the Transferor shall be released from obligations and liabilities accruing and arising
subsequent to the transfer. 

  

	2.6.5	Neither Owner shall create or permit any Lien on all or any portion of the Shared Facilities or its interest therein without the prior written consent of the other Owner, except for
(i) mechanics’ or materialmen’s Liens or similar Liens arising in the ordinary course of business, (ii) Liens for taxes and (iii) purchase money security Liens arising in the ordinary course of business, but in each case only to the extent
that the payment secured by the Lien shall not at the time be delinquent. Neither Owner has the power or authority to create Liens that burden the interest of the other Owner in the Shared Facilities. 

  

	2.7	NO PARTITION 

  
 Each Owner hereby waives, releases, relinquishes and quitclaims to the other Owner all rights to partition the Shared Facilities. Each Owner covenants
that it will not file any action to partition the Shared Facilities or any part thereof. 
  

 15 

	2.8	DAMAGE AND CONDEMNATION 

  

	2.8.1	In the event that all or portion of the Facilities is damaged or destroyed, any Capital Improvement for the repair, rebuilding or replacement of such damaged Facilities shall be
conducted in accordance with the provisions of Article 2.4. However, if such damage or destruction is the result of the Wilful Misconduct of a Party or its Affiliate, then (i) unless the Parties agree otherwise, such damaged or destroyed asset shall
be repaired or rebuilt at the sole expense of such Party and (ii) unless the Parties agree otherwise, such asset once restored shall continue to be owned by the Owners in their respective percentage ownership interests as existed prior to the damage
or destruction. 

  

	2.8.2	The Owners shall jointly defend any condemnation or eminent domain action with respect to the Shared Facilities. Neither Owner shall have the right to settle or compromise any
condemnation or eminent domain action with respect to the Shared Facilities without the prior written agreement of the other Owner. 

  

	2.8.3	If all or substantially all of the Shared Facilities shall be Taken, then this Agreement shall terminate. A Taking that renders the remainder of the Shared Facilities not Taken
unviable under the then current economic conditions for the production of Infineum Product and Shell Product shall be treated as a Taking of “substantially all” of the Shared Facilities. If there is a Taking of less than substantially all
of the Shared Facilities, then this Agreement shall continue in full force and effect as to the remainder of the Shared Facilities that are not Taken. 

  

	2.8.4	All proceeds of a Taking of Shared Facilities shall be shared between the Owners in accordance with their respective ownership interest in the Taken Shared Facility.

  

	2.8.5	The Capital Improvement for the rebuilding or replacement of Taken Shared Facilities shall be conducted in accordance with the provisions of Article 2.4. 

 

	2.9	DISPOSITION AND SALE OF OFF-SPEC INFINEUM PRODUCT 

  

	2.9.1	Infineum may elect to request that title to all or any part of Off-Spec Infineum Product under this Article 2.9.1 be transferred to Infineum in accordance with Article 2.5.1.
Alternatively, Infineum may require that Operator store the Off-Spec Infineum Product pending (i) [***]  [Confidential Treatment Required] in accordance with this Article 2.9.1, (ii) refinishing, reprocessing and/or retesting, as directed by
Infineum in accordance with Article 3.1.5(i) or (iii) future transfer of title to Infineum upon request by Infineum. Any Capacity Rights utilized in refinishing, reprocessing or retesting of such Off-Spec Infineum Product shall be for the account of
Infineum. All Variable Costs incurred by Operator in producing Off-Spec Infineum Product under this Article 2.9.1 and all Variable Costs incurred by Operator in storing, refinishing, reprocessing or retesting of Off-Spec Infineum Product under this
Article 2.9.1 shall be for the account of Infineum. Any Storage Capacity Rights utilized by Operator in storing Off-Spec Infineum Product under this Article 2.9.1 shall be for the account of Infineum. [***]  [Confidential Treatment Required]

  

 16 

	[***]	 [Confidential Treatment Required] 

  

	2.9.2	[Intentionally deleted] 

  

	2.9.3	Shell shall maintain adequate records, for at least five (5) years following the calendar year in question or such longer period as may be required by law of Off-Spec Infineum
Product that is in Shell’s possession at any time during such calendar year (whether in its capacity as Owner or as Operator). Infineum may require that, at Infineum’s cost, Infineum’s internal audit personnel and/or independent
auditors (provided such auditors are not employees or agents of any member of the Exxon Corporation or its Affiliates) perform an audit to confirm the ultimate sale or disposition of such Off-Spec Infineum Product for the current year and for any of
the three (3) preceding years upon reasonable notice and at reasonable times and intervals but no more often than once in a calendar year. Shell shall provide the auditors with the necessary data and explanations reasonably necessary for the
purposes of the audit. The auditors’ report shall be provided to Infineum and Shell and shall state the results of the aforementioned verifications and, if errors are found, the nature, amount and consequences of such error(s), together with
such additional information as is reasonably necessary to explain the genesis of said errors and to enable the Parties to avoid reoccurrence thereof. In the event of an overcharge or undercharge. Shell shall make an immediate adjustment in the next
invoice for the amount of the overcharge or undercharge, plus interest at the Interest Rate from the due date of the invoice containing the overcharge or undercharge until the date the adjustment is made. Infineum’s internal audit personnel
and/or independent auditors involved in such audit shall be bound by the provisions of Article 4.3 of this Agreement. 

  

	2.10	COST CONTRIBUTION AGREEMENT 

  
 Shell and Infineum have entered into a separate Cost Contribution Agreement in respect of funding for process research. A copy of this Agreement is
attached hereto as Schedule 13. 
  
 ARTICLE 3: OPERATORSHIP

  

	3.1	APPOINTMENT AND DUTIES 

  

	3.1.1	 Infineum and Shell hereby appoint Operator to be the operator of the Facilities, and Operator accepts such appointment. Operator shall perform all its duties as a
prudent operator following the operating standards applied by Operator in similar operations and in keeping with good industry practice and in compliance with applicable law. Operator shall use its reasonable efforts to (i) allow both Owners to
fully use their respective Capacity Rights, (ii) enhance the efficiency of the Shared Facilities, and (iii) have both Owners benefit from such efficiency improvements, without favoring one Owner over the other Owner. It is recognized and agreed that
Operator, in good faith and acting as a reasonable prudent Operator in its efforts to maximize optimization of the Shared 

  

 17 

	 	 
Facilities, may take actions from time to time which may impact each of the Owners differently. 

  

	3.1.2	Infineum, after development and consultation with Operator, shall establish the specifications for Infineum Product. Operator shall use commercially reasonable efforts to
manufacture On-Spec Infineum Product within the targets jointly developed by Infineum and Operator pursuant to Article 3.6. 

  

	3.1.3	Operator shall be liable to Infineum for Losses sustained by Infineum arising out of Operator’s performance or nonperformance under this Agreement only to the extent that such
Losses result from Operator’s Wilful Misconduct. Nothing contained in this Article 3.1.3 limits Operator’s responsibility under Article 4.4. Nothing contained in this Article 3.1.3 limits Infineum’s rights in the appropriate case to
seek injunctive relief or specific performance. Nothing contained in this Article 3.1.3 limits Infineum’s rights to obtain a money judgment for sums owed by Operator to Infineum under this Agreement. 

  

	3.1.4	Operator shall carry out the Infineum Operations in accordance with the Annual Plan & Budget and, within Infineum’s Capacity Rights or within capacity obtained under
Article 2.2.3 or Article 2.2.5, and the capability limits of the assets. Such Annual Plan & Budget shall (i) enable Operator to adequately protect HSE to the same standards as are commonly practiced at the Site and in compliance with applicable
law, (ii) enable Operator to comply with applicable law and to reasonably fulfill the programs, targets and budgets as set forth in the Annual Plan & Budget, and (iii) enable Operator to fully recover its actual costs that are permitted to be
charged in accordance with the Principles of Operatorship and this Agreement. 

  

	3.1.5	In addition to the obligations of Operator set forth elsewhere, Operator shall, as part of its operation of the Facilities for Infineum and in accordance with the Annual Plan &
Budget and within Infineum’s Capacity Rights or capacity obtained under Article 2.2.3 or Article 2.2.5, and the capability limits of the Facilities: 

  

	 	a.	provide, or procure and manage, such services, including operation, maintenance, engineering and construction, management, accounting and other functional support, security, access
control and guard services, and such utilities, Materials and/or facilities as are necessary or useful for the operation of the Facilities and/or to keep the Facilities in sound operating condition and good repair; 

  

	 	b.	in the event of total or partial unavailability of services, utilities, Materials and/or facilities, procure replacement from other sources as soon as is practical under the
circumstances; 

  

	 	c.	submit the applications for, diligently pursue the issuance of, and maintain in force, the environmental and other permits necessary or useful for the operation of the Facilities.
Operator shall hold the permits in its name; 

  

	 	d.	 prepare, sign and file or cause to be prepared, signed and filed, in the name of Operator, the filings required to be filed by an operator with any governmental
body with respect to the Facilities or the operation thereof, and coordinate the preparation, signing and filing of all filings required to be filed by both Owners 

  

 18 

	 	 
jointly with any governmental body with respect to the Facilities or the operation thereof; 

  

	 	e.	pay any existing or future ad valorem tax, value added tax, sales tax, use tax, and environmental tax or other governmental charge or tax levied or imposed with respect to the
Facilities and all Materials and prepare, deliver and maintain all required reports, valuations and statements with respect thereto. At the request and expense of Infineum, contest any such taxes on Infineum’s behalf. Infineum shall be solely
responsible for all income and franchise taxes imposed on it and for any existing or future ad valorem tax, value added tax, sales tax, use tax, and environmental tax or other governmental charge or tax levied or imposed with respect to Infineum
Product; 

  

	 	f.	provide, or procure and manage, the Materials. However, Infineum shall have the right to itself procure, or cause Operator to procure at Infineum’s direction, any Materials,
provided that such Materials so procured must be kept segregated from the Shared Materials and the Materials of the other Owner if Operator so requests, such request not to be made without reason, and, in case such request is made, the Facilities
allow such segregation, failing which Infineum may effect a Capital Improvement in accordance with Article 2.4 in order to create segregated storage facilities. Any Materials that are separately procured and stored by Infineum shall be Infineum
Materials for purposes hereof. Operator shall not make any material change to the specifications or other characteristics of Infineum Materials without reasonable prior notice to and approval by Infineum, or to Shared Materials without reasonable
prior notice to and approval by both Owners, which approval in each instance shall not be unreasonably withheld; 

  

	 	g.	manufacture Infineum Product from the Materials provided by or on behalf of Infineum (including those provided under this Agreement) maintaining good process control techniques and
implementing such quality standards as the Operator and Infineum shall agree upon; 

  

	 	h.	perform proper testing procedures for Infineum Product required for process control, and any additional testing as directed by Infineum; 

  

	 	i.	perform refinishing, reprocessing and/or retesting of Initial Off-Spec Infineum Product as directed by Infineum; 

  

	 	j.	arrange for the packaging of Infineum Product as directed by Infineum; 

  

	 	k.	arrange for the on-site storage of Infineum Product as directed by Infineum; 

  

	 	l.	arrange for the transportation of Infineum Product to off-site locations as directed by Infineum; 

  

	 	m.	use, store, handle, treat and/or dispose of, in accordance with all environmental requirements, the hazardous waste and other hazardous materials and non-hazardous waste made, used,
processed, stored or generated in the operation of the Facilities; 

  

	 	n.	perform such test runs and/or product development as directed by Infineum; 

  

 19 

	 	o.	provide Manufacturing Technical Service as directed by Infineum; 

  

	 	p.	properly read, maintain and calibrate the Metering Devices and maintain proper recording of Infineum Product and Materials in accordance with good industry practice and Article 3.8.
Maintain proper inventory control and counting procedures; 

  

	 	q.	prepare and maintain monthly accounting, statistical, production runs and other operational reports, special reports detailing any accident or other significant event and such other
reports and records as are required by applicable legal requirements or as are customarily maintained by prudent operators for facilities similar to the Facilities. Monthly reports shall include: 

  

	 	i.	intakes and outturns of the Facilities; 

  

	 	ii.	production, including intermediates, On-Spec Infineum Product and Off-Spec Infineum Product; 

  

	 	iii.	Charges; 

  

	 	iv.	maintenance, including turnarounds; 

  

	 	v.	scheduled and unscheduled shutdowns and other events reducing available time, space or other extent of available use of the Facilities by at least one full day or equivalent; and

  

	 	vi.	Materials and On-Spec Infineum Product and Off-Spec Infineum Product inventory reporting; 

  

	 	r.	propose such Capital Improvements to the Facilities as it may consider necessary or useful; provide, or procure the provision of, project assistance for Capital Improvements to the
Facilities, including development of project scope, plans, cost estimates, performance targets and other relevant information for Capital Improvements which Infineum is evaluating or in which it is participating. Capital Improvements in which
Infineum participates will be treated no different than any other capital improvement at the Site (i.e. as if the costs and the benefits of such Capital Improvement would have been solely for the account of Shell), including with respect to
timing of the Capital Improvement and dedication of limited resources; 

  

	 	s.	provide, or procure and manage, engineering, technical services, construction and installation work to the Facilities, including for all Capital Improvements;

  

	 	t.	provide, or procure and manage, any environmental investigation, monitoring, clean-up, remediation and restoration reasonably necessary in connection with the operation of the
Facilities for Infineum and any decontamination, demolition, removal and other activities reasonably necessary in connection with the decommissioning of Facilities; 

  

 20 

	 	u.	prepare and maintain periodic reviews and updates of facility procedures manuals and other documentation and of appropriate rules, regulations, procedures and manuals for the
protection of HSE; 

  

	 	v.	deliver to Infineum copies of all material contracts entered into by Operator in connection with the Facilities (excluding contracts with respect to the manufacture or sale of Shell
Product); 

  

	 	w.	take such reasonable actions as to cause the warranties and guaranties from vendors, suppliers and contractors required by applicable contract or design specifications to be
delivered and maintained; 

  

	 	x.	take such actions as are required to maintain such quality certifications with respect to the Facilities as the Owners may agree. In connection therewith, Operator shall use
reasonable efforts to satisfy and maintain quality certifications for the Facilities and the operation thereof and Infineum Products produced therefrom as may be required by customers of Infineum. Any incremental costs incurred by Operator in,
satisfying quality certifications for the Facilities and their operation and Products for either Owner that are higher or different than those required by the other Owner shall be for the sole account of the requiring Owner; and

  

	 	y.	upon such notice to the Owners as is reasonable under the circumstances, take all such actions as Operator reasonably determines are prudent and necessary in response to any
emergency that may jeopardize property or HSE according to the HSE standards maintained for the Site as a whole, and make such expenditures that are reasonably required in taking such actions, including Capital Expenditures. Such expenditures,
including Capital Expenditures, shall be deemed to be approved by the Owners. 

  

	3.1.6 	Without the prior written consent of Infineum in each instance, Operator shall not: 

  

	 	a.	encumber or dispose of, or contract for the encumbrance or disposition of, any Facilities except worn out or obsolete equipment and other Facilities that are to be encumbered or
disposed of pursuant to the Annual Plan & Budget or in connection with a Capital Improvement approved in accordance with Article 2.4.2 or Article 3.1.5(y); 

  

	 	b.	contract in the name of Infineum; 

  

	 	c.	except as expressly permitted in this Agreement, commit to any expenditure that would result in a Charge that exceeds the Annual Plan & Budget for the line item in question by
more than five percent (5%) of the total Annual Plan & Budget for the line item or more than twenty-five thousand USD (USD 25,000.00), whichever is greater; 

  

	 	d.	violate any permit or take any other action, or fail to take any action, that would subject Infineum to criminal or civil fines, penalties or other sanctions;

  

	 	e.	 create or permit any Lien on all or any portion of the, except for (i) mechanics’ or materialmen’s Liens or similar Liens arising in the ordinary course
of business, 

  

 21 

	 	 
(ii) Liens for taxes and (iii) purchase money security Liens arising in the ordinary course of business, but in each case only to the extent that the payment
secured by the Lien shall not at the time be delinquent. 

  

	3.1.7 	Without the prior written consent of Operator in each instance, Infineum shall not: 

  

	 	a.	contract in the name of Operator; 

  

	 	b.	violate any permit, or take any other action, or fail to take any action, that would subject the Operator to criminal or civil fines, penalties or other sanctions;

  

	 	c.	perform any work or take any other actions at the Site which are Operator’s responsibility as Operator under this Agreement. 

  

	3.1.8 	The Parties recognize that, now or at any time in the future, there may be legal restrictions affecting Operator’s ability to operate the Facilities for Infineum under the
terms of this Agreement for the Charges herein contemplated, in which case (i) Operator shall not be required to violate applicable law or submit to regulation that is excessively burdensome or has material unintended consequences for Operator and
(ii) Operator and Infineum shall consult and seek a mutually agreeable solution in the event of such legal impediment so as to preserve, to the extent possible, the benefits of this Agreement to Infineum without material negative impact to Operator
as a result of such legal impediment. Any such legal restrictions existing on the Commencement Date, as well as the agreed solutions for each such existing legal restriction, are described in Schedule 8. 

  

	3.2	PRINCIPLES OF OPERATORSHIP 

  
 The operatorship of the Facilities shall be governed by the following fundamental principles (“Principles of Operatorship”): 
  

	 	a.	at all times during the term of this Agreement, Operator and Infineum shall enjoy all rights which allow independent and viable management and operation of their respective
businesses; 

  

	 	b.	subject to the restrictions and limitations of this Agreement, the Charges other than the Risk Premium will be calculated on the basis of full recovery of Operator’s actual
costs that are permitted to be charged in accordance with this Agreement, and Operator shall not charge costs which are not directly related to operation of the Facilities for Infineum or which are not Overheads or which are not permitted to be
charged under this Agreement. In determining the Charges (other than the Risk Premium), the Parties shall take into consideration the Fixed Costs and the Variable Costs; 

  

	 	c.	whenever Infineum demonstrates that services, utilities, Materials and/or facilities or its equivalent is available from one or more Third Party suppliers on more competitive terms
and conditions, Operator and Infineum shall discuss and agree upon measures to improve efficiency. Such discussions shall take place annually in connection with the finalization of the Annual Plan & Budget, unless the Parties agree otherwise;

  

 22 

	 	d.	Operator shall use its reasonable efforts, and shall apply available cost reducing tools, to continuously reduce the costs it controls, recognizing there is an experience curve,
such efforts to meet or exceed the cost reduction efforts Operator exercises with respect to its other operations. The Parties shall discuss and address appropriate cost reduction opportunities and actions upon the reasonable request of a Party, and
at least annually, in connection with the finalization of the Annual Plan & Budget, unless the Parties agree otherwise; 

  

	 	e.	the terms and conditions of employment of Operator’s personnel and all aspects of their management shall be the prerogative of Operator. 

  

	3.3	ASSIGNED CONTRACTS 

  
 No pre-existing contracts regarding the supply of services, utilities, materials and/or facilities by an Affiliate of Operator to Infineum’s
predecessor in interest have been assigned to and assumed by Operator on behalf of the Owners except for those listed in Schedule 9. The contracts listed in Schedule 9 shall continue in full force and effect pursuant to the terms thereof until the
next expiration or renewal date as set forth therein, or the second anniversary of the Commencement Date, whichever is the earlier, or such other date as Infineum and the other party to such contract may agree, at which time the services, utilities,
materials and/or facilities supplied thereunder shall be incorporated into the provisions of this Agreement, unless agreed otherwise. Infineum shall not pay or receive any early termination penalties or payments arising out of (i) any contract not
assigned to and assumed by it, or (ii) any contract listed on Schedule 9 which is terminated in accordance with its terms, at the second anniversary of the Commencement Date, or at such other date as Infineum and the other party to such contract may
have agreed. 
  

	3.4	CHARGES 

  

	3.4.1 	In consideration of the operation of the Facilities for Infineum as provided herein, Infineum shall pay Operator the Charges, except as provided in Article 2.9.2. For the avoidance
of doubt, the Charges shall exclude any payments in relation to any known or contingent Claim or Loss (i) relating to or arising out of any event occurring prior to the Commencement Date or (ii) in no relation to the operation of the Facilities for
Infineum after the Commencement Date. Certain costs and expenses, if any, that the Parties have agreed are specifically included in or excluded from the Charges are specified in Schedule 10. 

  

	3.4.2 	 The Charges will be ascertained and charged in accordance with the Principles of Operatorship and this Agreement, pursuant to Operator’s cost accounting
practices which Operator represents are sufficient for the purposes of this Agreement, and which Operator represents are used for its Financial Reporting Accounts. A summary of Operator’s current accounting practices for its Financial Reporting
Accounts is attached hereto in Schedule 11. Operator may modify its cost accounting practices for its Financial Reporting Accounts from time to time in the normal course of business in conformity with generally accepted accounting principles,
provided that (i) the Charges to Infineum shall be in accordance with the Principles of Operatorship and this Agreement, (ii) such modifications are non-discriminatory and (iii) Infineum is given 

  

 23 

	 	 
reasonable prior written notice and explanation of such modification, including a best estimate of the resulting changes to the Charges.

  

	3.4.3 	Fixed Costs will be allocated between the Owners in accordance with Article 2.3 and this Article 3.4. Cost of Capital Improvements will be allocated between the Owners in accordance
with Article 2.4 and this Article 3.4. Except as otherwise provided in this Agreement or in the Schedules, Variable Costs will be allocated between the Owners on the basis of each Owner’s actual consumption of the service, utility, material or
facility as to which the Variable Costs in question pertain. 

  

	3.4.4 	It is the intention of the Parties that for each Owner, the inventory volumes specified in Schedule 1 for normal inventory requirements reflect the quantities of Materials needed as
of the Commencement Date for the normal operation of the Facilities for such Owner, broken down by individual Material and specifying Infineum Materials, Shared Materials and Shell Materials. If Schedule 1 does not properly reflect the normal
inventory requirements of Infineum. Schedule 1 shall be adjusted accordingly, and the difference shall be settled between Operator and Infineum at then current replacement costs. The Parties shall review such normal inventory requirements annually
in connection with the finalization of the Annual Plan & Budget, or at such other time either Party may request. If either Owner’s normal inventory requirements should increase or decrease, Schedule 1 shall be adjusted accordingly and the
difference in the volumes specified in Schedule 1 for normal inventory requirements for such Owner shall be settled between Operator and such Owner at then current replacement costs. 

  

	3.4.5 	Except if and to the extent any Loss with respect to Shared Materials results from either Party’s or its Affiliate’s Wilful Misconduct, in which case such Party shall be
liable for such Loss pursuant to Article 4.4.1, the following shall apply. From the time any Shared Materials are for the risk of Operator until the time such Shared Materials are used in the production of either Owner’s Product or are
otherwise used exclusively for one Owner, the Owners shall reimburse Operator for any Loss with respect to such Shared Materials at then current replacement costs in proportion to their relative normal inventory requirements for Shared Materials as
described in Schedule 1 (as adjusted from time to time). From the time any Shared Materials are used in the production of either Owner’s Product or are otherwise used exclusively for one Owner, such Owner shall reimburse Operator for any Loss
with respect to such Shared Materials at then current replacement costs. 

  

	3.4.6 	Infineum shall pay its pro rata share of Operator’s costs of providing or maintaining certain backup capacity, excess inventory of Materials and/or other means of assuring
services, utilities, Materials and/or facilities (“Backup Capability”) in the event of a curtailment, based on Infineum’s nominations for such Backup Capability compared to the nominations of all users for such Backup Capability. Such
payment shall entitle Infineum to its pro rata share of such Backup Capability, based on such relative nominations. 

  

	3.4.7 	Except as agreed otherwise, Charges for Operator’s personnel involved in the operation of the Facilities will include salary, benefits, bonuses, payroll and worker’s
compensation taxes and other payroll-related costs, including charges for payroll related off-site services listed in Schedule 10. 

  

 24 

	3.4.8   	Charges for Materials used for or at the direction of either Owner shall be charged to such Owner at the time of usage at the then current costs, calculated on the basis of the
accounting standard in place at the date of this Agreement, unless the Owners agree otherwise. Payment terms for such Materials shall be generally comparable to those applicable to Operator for such Materials. 

  

	3.4.9   	Except as agreed otherwise, Charges for services, utilities, Materials and/or facilities which are normally not based on cost (e.g. by-products of Operator’s operations) or for
which other users at the Site would normally receive a credit (e.g. fuel produced as a waste), shall be charged or credited according to the then current practices at the Site, whereby Infineum will be treated on equal footing with any other user of
such services, utilities, Materials and/or facilities at the Site. 

  

	3.4.10 	Except as agreed otherwise, Charges for items not easily metered or otherwise measurable (e.g. potable water, fire prevention, security and mail) shall be allocated based on agreed
objective pre-set indices or other criteria in accordance with Operator’s accounting practices and in accordance with the Principles of Operatorship and this Agreement. 

  

	3.4.11 	Except as agreed otherwise, Charges that are actuarially determined will be charged to Infineum on the same basis as to other users at the Site. 

  

	3.4.12 	Where, for particular services, utilities and/or facilities, Operator’s costs consist, in part or in whole, of services, utilities or facilities which Operator obtains from an
Affiliate of Operator, Operator shall calculate the relevant Charges on the basis of Operator’s actual costs therefore, which Charges shall be no higher than the charges to other Affiliates of Operator (for all purposes of this Article 3.4.12,
“Affiliate” shall include divisions of Operator that are not separate entities) or to business units of Operator for similar services, utilities and/or facilities provided in similar quantities and under similar terms and conditions.
However, at the end of the first and each successive accounting year, Infineum shall have the opportunity to demonstrate that the price paid by Operator to its Affiliate is higher than the charges that are charged to other Affiliates of Operator or
to other business units of Operator or higher than the Market Rate, if readily ascertainable, in which case the Charges for the next year will be calculated on the basis of Operator’s actual costs, the charges to other Affiliates of Operator or
to other business units of Operator, or the readily ascertainable Market Rate, whichever is lower. Infineum agrees that for as long as other users of isoprene at the Site are charged on the same basis, isoprene Charges on the basis of the formula
described in Schedule 10 shall be deemed to not exceed the Market Rate. 

  

	3.4.13 	If under applicable tax or other laws, Operator must charge a mark-up or profit factor with respect to any Charge, or, alternatively, if a profit factor is imputed under applicable
tax or other laws, Operator shall charge the minimum permitted mark-up or profit factor, or, if lawful under applicable law, Infineum shall have the option to instead compensate Operator on a net after tax basis for any tax or other charge imposed
on Operator under applicable law based on the imputed mark-up or profit factor. 

  

	3.4.14 	 Infineum shall be responsible for any existing or future sales tax, use tax, value added tax, environmental tax or other governmental charge or tax (other than
taxes measured by income) levied or imposed on Operator with respect to services, utilities, Materials of 

  

 25 

	 	 
facilities consumed by Infineum. Infineum shall provide Operator with properly completed exemption certificates for any tax or charge from which Infineum is
claiming exemption. 

  

	3.5	PAYMENT TERMS 

  

	3.5.1 	Except as provided in Article 3.4.8 with respect to Materials and except as agreed otherwise, Operator shall invoice Infineum each month for the Charges for the upcoming month as
budgeted for such month in the Annual Plan & Budget, on or before the first day of each month. After the actual amounts for such services, utilities, Materials and/or facilities items have become available, overcharges or undercharges shall be
credited or debited in the first billing cycle of the next appropriate accounting period. The final reconciliation for a certain year will be made within the first sixty (60) days of the succeeding year or such other period as may be agreed, to
reflect Operator’s actual costs incurred in the preceding year. The invoices shall be broken down in sufficient detail to indicate the Charges for particular services, utilities, Materials and/or facilities supplied during the period in
question. The Charges for each item of such services, utilities, Materials and/or facilities shall in turn be broken down in such detail as Infineum may reasonably request and as Operator can reasonably provide. 

  

	3.5.2 	Absent manifest error, Infineum shall pay the invoice on or before the later of thirty (30) days of receipt of the invoice or the last day of the month as to which such invoice
pertains. The Parties intend that the payment provisions should be generally working capital neutral to Operator, and the Parties shall make appropriate adjustments to these payment provisions if necessary to achieve this result. From the due date,
interest will accrue at the Default Rate. 

  

	3.5.3 	If Infineum without proper justification fails to pay any Charge as and when due, and (i) such failure continues for an initial period of at least thirty (30) days after written
notice from Operator and (ii) further continues for an additional period of at least ten (10) days following a second written notice from Operator which second notice may be given at any time following the expiration of the first thirty (30) day
period, then Operator shall be entitled to take and keep possession of all or part of any Infineum Product at the Site until Operator has received full payment of the principal amount and any accrued interest thereon. 

  

	3.5.4 	Infineum may raise any objections it may have at any time before, at the time of or after payment is made, provided such objections are raised before expiration of the period
specified in Article 3.7.2. Payment of any invoice shall not constitute approval thereof. The Parties shall meet to resolve any dispute as expeditiously as possible. 

  

	3.5.5 	In the event an overcharge or undercharge is discovered after the relevant amount was invoiced but before expiration of the period specified in Article 3.7.2, an adjustment shall be
made in the next invoice for the amount of the overcharge or undercharge, plus interest at the Interest Rate from the due date of the invoice containing the overcharge or undercharge until the date the adjustment is made. 

 

	3.5.6 	Unless otherwise agreed by Infineum and Operator, Infineum shall pay the Charges in USD. 

  

	3.5.7 	 Operator shall maintain a system of adequate internal controls to cause the billings and reports rendered by it or on its behalf to Infineum under this Agreement to
properly 

  

 26 

	 	 
reflect the facts about the activities and transactions covered thereby. Operator shall promptly notify Infineum upon discovery of any error contained in any
billing or report. 

  

	3.6	ANNUAL FORECAST AND ANNUAL PLAN & BUDGET 

  

	3.6.1 	Except as agreed otherwise between the Parties, for the purpose of preparing the Annual Forecast, on or before May 1 in each calendar year, Infineum shall advise Operator as to its
best estimates of quarterly volume requirements of Infineum Product and of test runs and/or product development for the succeeding calendar year and as to its best estimates for each of the four (4) calendar years thereafter. Also, Infineum shall
provide such other information as Operator may reasonably request for the purpose of preparing the Annual Forecast. 

  

	3.6.2 	Not later than September 1 of each calendar year or such other date as the Parties may agree, a team consisting of representatives of both Infineum and Operator (the
“Scheduling Team”) shall prepare and submit to both Owners the following information with respect to the succeeding calendar year: 

  

	 	a.	expected Capacity Rights and Capacity Usage of both Owners; 

  

	 	b.	expected Infineum Product production campaigns for each Unit, including expected volume, Off-Spec Infineum Product levels and Variable Costs, taking into account historical
performance and predicted improvements to future performance using typical manufacturing performance assessment techniques such as benchmarking; 

  

	 	c.	expected Infineum Product test runs and/or product development for each Unit; 

  

	 	d.	expected Infineum Product warehousing requirements; 

  

	 	e.	scheduled shutdowns of all or part of the Facilities; 

  

	 	f.	Capital Improvements to the Facilities proposed or requested and, if required, approved in accordance with Article 2.4.2; 

  

	 	g.	a Capital Expenditures, operating costs and manpower forecast with respect to the Facilities which shall specify costs of those Capital Improvements to the Facilities for which
approval (i) was previously given, (ii) is not required and (iii) is requested, together with an estimate of the Charges, analyzed by quarter, which shall be broken down into Variable Costs and Fixed Costs, including Overheads, broken down by
subcategory in such detail as Infineum may reasonably request and Operator can reasonably provide, taking into account the effects of anticipated Capital Improvements and Operator’s cost reduction efforts; 

  

	 	h.	any changes to Schedule 10, both as to the listed off-site services and as to associated costs; 

  

	 	i.	to the extent that it is already available to Operator in the normal course of its business, a Capital Expenditure forecast with respect to the operation of the Facilities of
relevant major items for each of the four (4) calendar years following the year to which the Annual Forecast pertains. 

  

 27 

	3.6.3 	The information provided pursuant to Article 3.6.2 under (a) to (h) inclusive shall be referred to as the “Annual Forecast”. The purpose of the Annual Forecast shall be
(i) to allow both Owners to fully use their respective Capacity Rights, (ii) to enhance the efficiency of the Shared Facilities, and (iii) to have both Owners benefit from such efficiency and synergy improvements, without favoring one Owner over the
other Owner. The Annual Forecast shall (i) enable Operator to adequately protect HSE, and (ii) enable Operator to fully recover its actual costs in accordance with this Agreement. 

  

	3.6.4 	Both Owners will review the Annual Forecast. Each Owner shall raise any objections it may have no later than thirty (30) days after submission of the Annual Forecast, or such other
time as the Parties may agree. If an Owner fails to timely raise objections, the Scheduling Team may notify such Owner in writing of such failure to respond and if such Owner fails to raise objections within ten (10) days of such notice, then such
Owner shall be deemed to have approved the Annual Forecast. The Parties shall try in good faith to resolve their differences no later than sixty (60) days after submission of the Annual Forecast, or at such other time as the Parties may agree. If
and to the extent no agreement has been reached by January 1, the Annual Plan & Budget of the prior year shall provisionally control with respect to costs controllable by Operator (other than payroll costs), and the disputed Annual Forecast in
all other respects, with such changes thereto as are agreed between the Parties. If such provisional arrangement is later determined to not conform to this Article 3.6 or other provisions of this Agreement to the disadvantage of either Owner, then
Operator shall (i) make such adjustments to the planning schedule as may be necessary and (ii) make appropriate adjustments for overcharges and undercharges in accordance with Article 3.5.5, in each case so as to place both Owners as soon as
possible in the position that they would have been in had the provisional arrangement been in conformity with this Agreement. 

  

	3.6.5 	Upon both Owners’ approval, the Annual Forecast becomes the Annual Plan & Budget, which shall be binding on all Parties. 

  

	3.6.6 	The Annual Plan & Budget(s) for the calendar year 1999 is set forth in Schedule 6. 

  

	3.6.7 	Operator shall endeavor to accommodate any requests by either Owner to deviate from the Annual Plan & Budget, for example to meet any rush orders, provided the other Owner is
not adversely impacted. 

  

	3.6.8 	Not later than sixty (60) days prior to each quarter, both Owners shall provide to the Scheduling Team the quantities, types and timing of the liftings of Product, and any customer
sourcing requirements, for the next four (4) quarters, whereby the nominations for the first two (2) quarters will be binding and the nominations for the second two (2) quarters will be best estimates. The nominations shall be in line with the
applicable Annual Plan & Budget, subject to deviations therefrom permitted under this Agreement, or, in case such Annual Plan & Budget has not yet been approved, the Annual Forecast for the succeeding year or, in case such Annual Forecast
has not yet been submitted, the estimates submitted by the Owners to the Scheduling Team for the purpose of preparing the Annual Forecast for the succeeding year. 

  

 28 

	3.7	BOOKS AND RECORDS, VERIFICATION 

  

	3.7.1 	Unless the Parties agree otherwise, the Parties shall keep accurate books and records of their activities relevant to this Agreement for at least five (5) years after the calendar
year in question or such longer period as may be required by law. 

  

	3.7.2 	To verify the correctness of the invoices and payments hereunder for the current calendar year and for any of the three (3) preceding years, upon reasonable notice and at reasonable
times and intervals but no more often than once in a calendar year, Infineum may require that, at Infineum’s cost, Infineum’s internal auditors and/or independent auditors (provided such auditors are not employees or agents of any member
of the Exxon Corporation or its Affiliates) perform an audit for such purposes. Operator shall provide the auditors with the necessary data and explanations reasonably necessary for the calculation of the Charges and the basis therefor. The
auditors’ report shall be provided to Infineum and Operator and shall state the results of the aforementioned verifications and, if errors are found, the nature, amount and consequences of such error(s), together with such additional
information as is reasonably necessary to explain the genesis of said errors and to enable the Parties to avoid recurrence thereof. In the event of an overcharge or undercharge, Operator shall make an immediate adjustment in accordance with Article
3.5.5. Infineum’s internal and/or independent auditors involved in any such audit shall be bound by the provisions of Article 4.3 of this Agreement 

  

	3.8	METERING OF SUPPLY AND CONSUMPTION 

  
 Whenever appropriate, the quantities of services, utilities, Materials and/or facilities supplied and consumed hereunder shall be recorded on adequate
meters, other instruments or other appropriate devices (“Metering Devices”) as may exist as of the Commencement Date or as agreed upon between Operator and Infineum as soon as practical after the Commencement Date. The Parties shall
equally share the costs of acquisition and installation and improvement of any new or replacement Metering Devices. Operator’s actual costs incurred pursuant to the preceding sentence shall be excluded from Direct Site Costs. In the event the
Parties disagree, each Party is entitled to cause the installation of Metering Devices of its choice, provided that the costs of acquisition, installation, inspection, calibration, maintenance and repair of said Metering Devices shall be solely for
the account of and paid by the Party causing the installation. Unless agreed otherwise, the reliability of the installed instruments and the measurements performed thereby shall be checked and the Metering Devices shall be recalibrated in the
presence of qualified representatives of the Parties according to a pre-set program and whenever an abnormal situation arises, in accordance with good industry practice. Except to the extent such costs are allocated to one of the Parties pursuant to
the fourth sentence of this Article 3.8, the actual costs incurred by Operator in inspecting, calibrating, maintaining and repairing the Metering Devices for metering services, utilities, Materials and/or facilities to both Infineum and other users
shall be shared between Infineum and the other users by including such costs in Direct Site Costs. Formulae shall be established for compensating for differences in readings between supply and consumption meters. 
  

	3.9	INSUFFICIENT SUPPLY 

  

 29 

	3.9.1   	Operator shall exert its reasonable efforts to ensure that adequate services, utilities, Materials and/or facilities are provided to the Facilities. However, if Operator is unable
to satisfy the total demand at the Site for such services, utilities, Materials and/or facilities, then the curtailment procedures shall apply, unless agreed otherwise. A copy of the curtailment procedures are attached hereto as Schedule 12. Save
for emergency situations, no material changes will be made to such curtailment procedures without Infineum’s prior consent. In case Operator claims Force Majeure, compliance by the Operator with the curtailment procedures shall fulfill
Operator’s obligation under Article 4.6 with respect to not causing a substantial disproportionate adverse economic effect on one Owner as compared to the other Owner or on the Facilities as compared to the other manufacturing facilities at the
Site (or vice versa). 

  

	3.9.2   	In the event of such curtailment, services, utilities, Materials and/or facilities obtainable through Backup Capability shall be allocated to those users (including the Facilities,
if applicable) who share in the costs of same in accordance with their respective share of the costs of such Backup Capability. 

  

	3.10    BUSINESS	ETHICS; ALCOHOL AND DRUGS POLICY 

  

	3.10.1 	Operator, in performing its obligations hereunder, shall establish and maintain in effect appropriate business standards, procedures and controls to avoid any real or apparent
impropriety that might adversely affect Infineum or any of its Affiliates, including: 

  

	 	  a.	ensuring that the payments by Infineum to Operator are received by Operator solely for its own account and for the accounts of its Contractors, suppliers and consultants engaged by
it in connection with its obligations under this Agreement: 

  

	 	  b.	ensuring that Operator does not offer, give or pay on behalf of Infineum any part of any payments received under this Agreement to any government official, political party or
official or any candidate for political office. 

  

	3.10.2 	Both Infineum and Operator shall exercise reasonable care and diligence to prevent any actions or conditions that could result in a conflict of interest between them. This
obligation shall apply to the activities of the Parties in their relations with the employees of the other Party and the families of such employees, and with Contractors, suppliers and Third Parties providing labor, goods or services in connection
with this Agreement and/or the operation of the Facilities for Infineum. Each of Infineum and Operator shall establish reasonable precautions to prevent making, receiving, providing or offering substantial gifts, extravagant entertainment, payments,
loans or other considerations for the purpose of influencing individuals to act contrary to the other Party’s best interest. 

  

	3.10.3 	Operator, in performing its obligations hereunder, shall establish and maintain in effect an appropriate alcohol and drug policy. Such policy as applied, administered and enforced
hereunder shall be no less strict than that applicable to other comparable operations of Operator and its Affiliates, and shall conform with good industry practice and with applicable laws. Such policy shall include, but not be limited to, the
following principles (subject to limitations under applicable law): 

  

 30 

	 	   a.	the policy shall be intended to assure that Operator’s employees, agents. Contractors, suppliers and consultants do not perform work under this Agreement while impaired by
alcohol or any controlled substance; 

  

	 	   b.	the policy shall be intended to assure a drug-free work place while performing work under this Agreement; 

  

	 	   c.	the policy shall not allow (i) the use, possession, distribution or sale of alcoholic beverages without the prior approval of Operator’s senior management, (ii) Operator’s
employees, agents, Contractors, suppliers or consultants being impaired or under the influence of alcohol, (iii) the use, possession, distribution or sale of illicit or unprescribed controlled drugs or drug paraphernalia, or (iv) the misuse of
legitimate prescription drugs, in each case while at the Facilities or while performing work under this Agreement; 

  

	 	   d.	the policy shall provide for appropriate testing for and sanctions for infringement of the policy; 

  

	 	   e.	the policy shall have special drug and alcohol provisions for positions that are safety-sensitive, and Operator shall staff safety-sensitive positions in accordance with these
special provisions. 

  

	3.11	    INFORMATION, AUDIT RIGHT, CORRECTIVE ACTION PLAN 

  

	3.11.1  	Unless agreed otherwise between the Parties, Operator shall provide the Scheduling Team and both Owners with a quarterly report on variations from the Annual Plan & Budget no
later than thirty (30) days from the end of the relevant quarter. 

  

	3.11.2  	In addition to the information provided pursuant to Article 3.11.1, Operator shall provide Infineum at the end of the month after the month of a particular production campaign,
unless the Parties otherwise agree, with such information as Infineum may reasonably require and as Operator can reasonably provide with respect to such production campaign to assess Operator’s performance against the Annual Plan & Budget.

  

	3.11.3  	To assess and monitor Operator’s performance, once every three calendar years or upon reasonable cause concerning Operator’s performance, and upon reasonable notice and at
reasonable times and intervals, Infineum may require that, at Infineum’s cost, Infineum’s internal audit personnel and/or independent auditors (provided such auditors are not employees or agents of any member of the Exxon Corporation or
its Affiliates) perform an audit for such purposes. Operator shall provide the auditors with the necessary data and explanations reasonably necessary for the audit. The auditors’ report shall be provided to Infineum and Operator and shall state
the results of the aforementioned audit, recommendations to improve Operator’s performance, and such additional information as the auditors deem appropriate. Infineum’s internal audit personnel and/or independent auditors involved in such
audit shall be bound by the provisions of Article 4.3 of this Agreement. 

  

	3.11.4  	 If in Infineum’s reasonable opinion Operator’s explanations in response to the audit described in Article 3.11.3 are unsatisfactory, Infineum shall have
the right to require Operator (i) to undertake an appropriate investigation and (ii), if such investigation shows an unsatisfactory performance by Operator, to prepare a corrective action plan with 

  

 31 

	 	 
respect to such unsatisfactory performance, reasonably satisfactory to both Owners (“Corrective Action Plan”). Infineum shall have meaningful
participation in the investigation mentioned above and the development of the Corrective Action Plan of Operator and shall have the right to approve the Corrective Action Plan. 

  

	3.11.5 	Operator shall implement the Corrective Action Plan. Such Corrective Action Plan shall be treated no different than any other new projects or initiatives at the Site (i.e. as
if the costs and the benefits of such Corrective Action Plan would have been solely for the account of Shell), including with respect to timing of implementation of the Corrective Action Plan and dedication of limited resources. The costs of
preparation and implementation of the Corrective Action Plan shall be shared between the Owners as if they were Fixed Costs of the Shared Facility in question, except that Operator shall pay for any costs arising out of Operator’s negligence
and Infineum shall pay for incremental costs incurred by Operator in satisfying requirements of Infineum that are higher or different than those required by Shell and that do not arise out of Operator’s negligence. 

  

	3.11.6 	To monitor the implementation of the Corrective Action Plan and to assess its effectiveness, upon reasonable notice and at reasonable times and intervals, Infineum may require that,
at Infineum’s cost, Infineum’s internal - audit personnel and/or independent auditors (provided such auditors are not employees or agents of any member of the Exxon Corporation or its Affiliates) perform an audit for such purposes.
Operator shall provide the auditors with the necessary data and explanations reasonably necessary for the monitoring or assessment. The auditors’ report shall be provided to Infineum and Operator and shall state the results of the
aforementioned audit, recommendations to improve the effectiveness of the Corrective Action Plan, recommendations as to any supplemental or alternative Corrective Action Plan, variations from the Corrective Action Plan, together with the nature,
amount and consequences of such variations, and such additional information as the auditors deem appropriate. Infineum’s internal audit personnel and/or independent auditors involved in such audit shall be bound by the provisions of Article 4.3
of this Agreement. 

  

	3.11.7 	If the Parties fail to agree on a Corrective Action Plan, or if in Infineum’s reasonable opinion Operator fails to implement the Corrective Action Plan, or if in
Infineum’s reasonable opinion the Corrective Action Plan fails to satisfactorily resolve the problem, and Infineum has given Operator written notice of such failure and within a reasonable time thereafter under the circumstances such failure
has not been corrected or Operator has not developed and implemented a new Corrective Action Plan reasonably satisfactory to Infineum, then the matter may be submitted by either Party in writing to the executive officers of Operator and Infineum who
are in charge of manufacturing in the United States of America. Such officers, acting directly or through senior officers appointed by them, shall mediate the dispute with the goal of attaining a solution satisfactory to both Parties. If the Parties
do not attain a satisfactory solution after such mediation, either Party may require that such dispute be submitted to binding arbitration in accordance with Article 4.9.2 through 4.9.9 of this Agreement. 

  

	3.11.8 	At Infineum’s reasonable request, the Operator will co-operate with Infineum in the conduct of Infineum’s audits of delivery, logistics and storing of Infineum Materials.

  

 32 

	3.12     	PERFORMANCE-BASED COMPENSATION PROGRAMS 

  

	3.12.1  	Any performance-based compensation programs or discretionary bonuses for Operator personnel involved in the operation of the Facilities shall equitably value performance for both
Infineum’s Infineum Product business and Shell’s Shell Products business conducted at the Facilities. 

  

	3.12.2  	To verify Operator’s compliance with Article 3.12.1 for the current year and for any of the three (3) preceding years upon reasonable notice and at reasonable times and
intervals but no more often than once in a calendar year, Infineum may require that, at Infineum’s cost, Infineum’s internal audit personnel and/or independent auditors (provided such auditors are not employees or agents of any member of
the Exxon Corporation or its Affiliates) perform an audit for such purposes. Operator shall provide the auditors with the necessary data and explanations reasonably necessary for the purposes of the audit and the basis therefor. The auditors’
report shall be provided to Infineum and Operator and shall state the results of the aforementioned verification and, if deviations are found, the nature and consequences of such deviations, together with such additional information as is reasonably
necessary to explain the genesis of said deviations and to enable the Parties to avoid reoccurrence thereof. Infineum’s internal audit personnel and/or independent auditors involved in such audit shall be bound by the provisions of Article 4.3
of this Agreement. 

  

	3.13     	NON-CONFORMING PERFORMANCE; WILFUL MISCONDUCT 

  

	3.13.1  	If Operator repeatedly conducts its operation of the Facilities for Infineum in a manner that is non-conforming to this Agreement, and Infineum has given Operator written notice of
such non-conforming performance and within a reasonable time thereafter under the circumstances such non-conforming performance has not been corrected or Operator has not developed and implemented a plan of corrective action reasonably satisfactory
to Infineum to prevent the reoccurrence of such non-conforming performance, then the matter may be submitted by either Party to the executive officers of Operator and Infineum who are in charge of manufacturing in the United States of America. Such
officers, acting directly or through senior officers appointed by them, shall mediate the dispute with the goal of attaining a solution satisfactory to both Parties. If the Parties do not attain a satisfactory solution after such mediation, either
Party may require that such dispute be submitted to binding arbitration in accordance with Article 4.9.2 through 4.9.9 of this Agreement. 

  

	3.13.2  	Operator shall be responsible for compensating Infineum for any lost volume, additional cost or other direct loss, damage or liability incurred by Infineum to the extent arising out
of Operator’s Wilful Misconduct, but not for any consequential damages, including lost profits, and punitive and exemplary damages. Without limitation, a deliberate violation of this Agreement by Managerial Personnel of Operator with the
intention to favor Shell’s Shell Products business over Infineum’s Infineum Product business to the detriment of Infineum shall be considered Wilful Misconduct for purposes hereof. If necessary to make up any loss of volume of a particular
Infineum Product arising out of Operator’s Wilful Misconduct, Operator shall make alterations to the production cycle to prioritize such volume make up unless and to the extent that Infineum reasonably determines that it has adequate inventory
for the Infineum Product in question. 

  

	3.14	    INFINEUM ON-SITE REPRESENTATIVE 

  

 33 

 Infineum shall be permitted to have one or more, as may be reasonably required, on-Site representatives
(whether one or more, the “Infineum On-Site Representative”) to monitor, review and audit operations and records of the Site and Facilities and act as a representative of Infineum. Infineum shall designate the Infineum On-Site
Representative to Operator from time to time. The Infineum On-Site Representative may but shall not be required to be Infineum’s Scheduling Team member. Operator will provide the Infineum On-Site Representative with an office and required
support. The Infineum On-Site Representative shall be given access to the Site and the Facilities, to production campaigns of Infineum Product, to books and records (as the same pertain to the business of Infineum), and Operator personnel (for
obtaining information), and be provided with sufficient understanding of the process technology practiced at the Facilities and other pertinent information, sufficient for the Infineum On-Site Representative to effectively carry out his
responsibilities with respect to the business of Infineum. The Infineum On-Site Representative shall refrain from interfering with operations at the Site (including the operation of the Facilities). Infineum shall cause the Infineum On-Site
Representative to sign such confidentiality agreements as Operator may reasonably request. 
  
 ARTICLE 4: GENERAL PROVISIONS 
  

	4.1	NATURE OF RELATIONSHIP 

  

	4.1.1	The relationship between the Parties to this Agreement shall be limited to one of contract. Neither the co-ownership of the Shared Facilities nor the contractual relationship
between the Parties nor any provision of any agreement relating to the Shared Facilities or other Facilities shall be construed to create a partnership or joint venture between two or more Parties, or make any Party in any way responsible for the
debts, obligations, or other liabilities of an other Party except as specifically provided in this Agreement (or any amendments thereof). The Parties elect not to have this Agreement be treated as a partnership pursuant to Subchapter K of the
Internal Revenue Code. 

  

	4.1.2	This Agreement (and any amendments thereof) shall not in any manner (i) limit any Party in carrying on their respective separate businesses or activities, (ii) impose upon any Party
any fiduciary duty vis-à-vis one or more of the others by reason of its carrying on its separate business or activity, or (iii) impose upon any Party any obligation or liability except as expressly provided in this Agreement (or any
amendments thereof). 

  

	4.2	INTELLECTUAL PROPERTY RIGHTS 

  
 Neither this Agreement nor the performance by any of the Parties of its duties hereunder shall operate to convey, license or otherwise transfer from one
Party to another any patent, know-how, trade secrets or other intellectual property rights except as expressly provided otherwise. Any intellectual property rights arising out of or in connection with Operator’s performance of this Agreement
shall be the exclusive property of Operator, except to the extent Infineum has any such property rights pursuant to any other agreement. 
  

 34 

	4.3	CONFIDENTIALITY 

  

	4.3.1	Beginning on the Commencement Date and continuing for a period of three (3) years after termination of this Agreement, in respect of all disclosures by or on behalf of one Party (a
“Disclosing Party”) to the other Party (a “Receiving Party”) or an Affiliate of the Receiving Party in connection with this Agreement, each Receiving Party shall, and shall cause such Affiliate and the respective directors,
officers, employees, agents, representatives, consultants and Contractors of the Receiving Party and/or such Affiliate to hold in confidence, and refrain from using other than in accordance with the performance of the obligations of and the exercise
of the rights of the Receiving Party under this Agreement, the Confidential Information of the Disclosing Party and its Affiliates disclosed hereunder by such Party, directly or indirectly. The provisions of this Article 4.3.1 shall not be deemed
violated by a disclosure of Confidential Information between a Receiving Party and an Affiliate of the Receiving Party or to the respective employees, agents, consultants, suppliers and Contractors of such Party and such Affiliate, on a need-to-know
basis provided the persons and entities to which such disclosure is made are subject to obligations of confidentiality and restrictions on use at least as strict as those imposed on the Parties and their Affiliates by this Article 4.3. Nothing
contained in this Article 4.3 requires a Party to disclose Confidential Information to the other Party except to the extent necessary for the Parties to satisfy their respective obligations under this Agreement. 

  

	4.3.2	The Disclosing Party shall use, and shall cause its Affiliates to use, reasonable efforts to identify written Confidential Information of the Disclosing Party as
“Confidential” or “Proprietary” at the time it is disclosed. Notwithstanding the foregoing, both Parties understand that from time to time some Confidential Information may be disclosed without being marked as
“Confidential” or “Proprietary” information of the Disclosing Party. Furthermore, it is specifically recognized that some Confidential Information will be disclosed to a Receiving Party or its Affiliates either by visual
observation or by oral disclosure. The obligations of confidentiality and restrictions on use provided in this Article 4.3 shall apply to Confidential Information disclosed orally or made available for visual observation. Further, the Parties agree
that the failure to designate Confidential Information as “Confidential” or “Proprietary” shall not mean that such Confidential Information is to be considered non-confidential. 

  

	4.3.3	The provisions of Articles 4.3.1, 4.3.2 and 4.3.5 do not apply to information within any one of the following categories or any combination thereof: 

  

	 	a.	any information that is in the possession of the Receiving Party or an Affiliate of the Receiving Party, as the case may be, prior to its disclosure by the Disclosing Party under or
in connection with this Agreement, as demonstrated by documents in the possession of the Receiving Party or such Affiliate, to the extent that the Receiving Party or such Affiliate is not subject to obligations of confidentiality or restrictions on
use outside this Agreement; 

  

	 	b.	any information that is now in or hereafter comes into the public domain without fault or negligence on the part of the Receiving Party or its Affiliates, or their respective
directors, officers, employees, agents, representatives, consultants or Contractors; 

  

 35 

	 	c.	any information that property becomes available to the Receiving Party or an Affiliate of the Receiving Party, as the case may be, from a source other than the Disclosing Party or
any of its Affiliates or a person or entity making the disclosure by or on their behalf, as demonstrated by documents in possession of the Receiving Party or such Affiliate, provided that the source is under no obligation known to the Receiving
Party or such Affiliate to maintain the confidentiality thereof and does not in fact impose obligations of confidentiality on the Receiving Party or such Affiliate with respect thereto; or 

  

	 	d.	any information that can be shown by documentary evidence to have been developed independently by or for the Receiving Party or its Affiliates, without reference to or benefit from
the Confidential Information. 

  

	4.3.4	Specific disclosures made to a Receiving Party or its Affiliates hereunder shall not be deemed to be within the exceptions specified in Article 4.3.3 merely because the specific
disclosures are embraced by general disclosures that are in the public domain or are in the prior possession of the Receiving Party without restriction on disclosure or are subsequently received from a source other than the Disclosing Party or its
Affiliates or represent independent developments by or for the Receiving Party or its Affiliates. In addition, any combination of features disclosed to a Receiving Party hereunder shall not be deemed to be within the foregoing exceptions merely
because individual features are within the exceptions, but only if the combination itself is in the public domain or in the prior possession of the Receiving Party without restriction on disclosure or is subsequently received from a source other
than the Disclosing Party or its Affiliates or represents independent developments by or for the Receiving Party or its Affiliates. 

  

	4.3.5	Notwithstanding any other provision of this Article 4.3, if the Receiving Party or an Affiliate of the Receiving Party is required by law, rule, regulation or order, or in the
course of administrative or judicial proceedings, to disclose Confidential information that is otherwise subject to an obligation of confidentiality pursuant to this Article 4.3, it may make such disclosure, provided, however, that the Receiving
Party or its Affiliate making such disclosure shall as soon as practicable notify the Disclosing Party of the requirement for disclosure and the terms thereof and shall cooperate to the maximum extent practicable to minimize the actual disclosure
made in response to the requirement. Any Receiving Party or Affiliate disclosing such Confidential Information shall use its best efforts to obtain proprietary or confidential treatment of such Confidential Information by any administrative or
judicial body or Third Party to whom the information is to be disclosed and, to the extent such remedies are available, shall use best efforts to seek protective orders limiting the dissemination and use of the Confidential Information. Moreover,
this Agreement does not alter the rights of either Party to object to the rule, regulation, order or proceeding requiring the disclosure. 

  

	4.3.6	[Intentionally deleted] 

  

	4.3.7	Operator shall be free to require appropriate company and personal secrecy agreements and to limit access to the Site to protect Confidential Information of the Parties.

  

	4.3.8	 Except for visits of its representative on the Scheduling Team and the Infineum On-Site Representative, Infineum will give such prior written notice as is
reasonable under the circumstances to Operator of any visit to the Site of employees, representatives, Contractors, customers or other business invitees of Infineum. Infineum shall have the 

  

 36 

	 	 
right to have its customers visit the Site from time to time for inspection of the Facilities in accordance with prevailing practices in the industry in the
Field of Operations, provided the number, duration and nature of such visits do not place an unreasonable burden on Operator. While visiting the Site, employees, representatives (including Infineum’s representative on the Scheduling Team and
Infineum On-Site Representative), Contractors, customers or other business invitees of Infineum shall at all times be accompanied by an Operator representative. 

  

	4.4	LIABILITY 

  

	4.4.1	Except as provided in the third sentence of this Article 4.4.1, each Party waives all Claims against the other Party and the other Party’s Eligible Indemnitees for Losses
resulting from damage or destruction to the property of the waiving Party within the Site resulting from any cause whatsoever occurring during the term of this Agreement, including the negligence of the other Party, the other Party’s
Affiliates, and their respective officers, directors (or equivalent), employees, agents and Contractors, it being the express intention of the Parties that the Eligible Indemnitees of such other Party are third party beneficiaries of the waiver and
indemnification provisions of this Article 4.4.1. Except as provided in the third sentence of this Article 4.4.1, each Party shall indemnify, defend and hold harmless the other Party and the other Party’s Eligible Indemnitees from any Claim or
Loss of the indemnifying Party’s Affiliates arising out of damage or destruction to the property of the Affiliates of the indemnifying Party within the Site resulting from any cause whatsoever, including the negligence of the other Party, the
other Party’s Affiliates, and their respective officers, directors (or equivalent), employees, agents or Contractors. Notwithstanding the foregoing, each Party shall be liable to the other Party or the other Party’s Affiliate, as the case
may be, for Losses resulting from damage or destruction to such other Party’s or to the other Party’s Affiliates’ property caused by the indemnifying Party’s or the indemnifying Party’s Affiliate’s Wilful Misconduct,
subject to Article 4.4.2. 

  

	4.4.2 	Each Party waives all Claims of the waiving Party against the other Party and the other Party’s Eligible Indemnitees for consequential damages, including lost profits, and for
punitive and exemplary damages, whether or not caused by the other Party’s or the other Party’s Eligible Indemnitees’ negligence, arising out of any act or omission of the other Party under this Agreement or any event occurring within
the Site during the term of this Agreement, except if and to the extent such consequential, punitive and/or exemplary damages are actually recovered by the other Party or the other Party’s Eligible Indemnitees from a Third Party. It is the
express intention that the Eligible Indemnitees of such other Party are third party beneficiaries of the waiver and indemnification provisions of this Article 4.4.2. Each Party shall indemnify, defend and hold harmless the other Party and the other
Party’s Eligible Indemnitees from any Claim for consequential damages, including lost profits, and for punitive or exemplary damages, whether or not caused by the other Party’s or the other Party’s Eligible Indemnitees’
negligence, of any Affiliate of the indemnifying Party arising out of any act or omission of the other Party under this Agreement or any event occurring within the Site during the term of this Agreement, except if and to the extent such
consequential, punitive and/or exemplary damages are actually recovered by the other Party or the other Party’s Eligible Indemnitees from a Third Party. Nothing contained in this Article 4.4.2 limits either Party’s indemnification
responsibility under other Articles of this Article 4.4 or under or any instrument executed in connection therewith. 

  

 37 

	4.4.3 	Even though a Party may not be liable to the other Party for Losses sustained by the other Party or the other Party’s Affiliates, the first Party shall nevertheless take
reasonable actions (at the expense of the other Party, where the first Party has no liability) to enforce any contractual or other right it may have (but that the other Party or the other Party’s Affiliates does not have) for the benefit of the
other Party or the other Party’s Affiliates, in order to minimize (or obtain recovery of) the other Party’s Losses; provided, however, the first Party shall not be obligated to prejudice in any material respect its commercial or other
interests. 

  

	4.4.4 	Each Party shall be responsible for, and shall indemnify, defend and hold harmless the other Party and the other Party’s Eligible Indemnitees from, any Employee Claim of the
employees of the indemnifying Party and the indemnifying Party’s Affiliates, and any Loss that the other Party or the other Party’s Eligible Indemnitees may incur as a result of such Employee Claim (even if such Loss is caused by the
negligence but not the Wilful Misconduct of the other Party or the other Party’s Eligible Indemnitees), except if and to the extent that such Employee Claim or Loss arises out of the Wilful Misconduct of the other Party or the other
Party’s Affiliate. Each Party shall be responsible for, and shall indemnify, defend and hold harmless the other Party and the other Party’s Eligible Indemnitees from, any Employee Claim of the employees of the other Party and the other
Party’s Affiliates to the extent arising out of the Wilful Misconduct of the indemnifying Party or the indemnifying Party’s Affiliate, and any Loss that the other Party and the other Party’s Eligible Indemnitees may incur as a result
of such Employee Claim. 

  

	4.4.5 	Each Party shall be responsible for, and shall indemnify, defend and hold harmless the other Party and the other Party’s Eligible Indemnitees from, any Intellectual Property
Claim arising in connection with the indemnifying Party’s Product (Infineum Product or Shell Product, as the case may be) or the manufacture, sale or use of the indemnifying Party’s Product (Infineum Product or Shell Product, as the case
may be), or in connection with services provided by or on behalf of the indemnifying Party to any Third Party, and any Loss that the other Party or the other Party’s Eligible Indemnitees may incur as a result of such Intellectual Property
Claim. 

  

	4.4.6 	 Each Party shall be responsible for, and shall indemnify, defend and hold harmless the other Party and the other Party’s Eligible Indemnitees from, any Third
Party Claim arising out of Products sold or otherwise made available to such Third Party or services provided by the indemnifying Party to such Third Party and all Losses that the other Party or the other Party’s Eligible Indemnitees may incur
as a result of such Third Party Claim (even if such Loss is caused by the negligence but not the Wilful Misconduct of the other Party or the other Party’s Eligible Indemnitees) except if and to the extent that such Claim or Loss arises out of
the Wilful Misconduct of the other Party or the other Party’s Affiliate and is a Claim for Non-Consequential Damages. Any Claim first asserted against either Party following the fifth (5th) anniversary of the Commencement Date with respect to
Products or services within the Field of Operations shall conclusively be deemed to be Products sold or otherwise made available or services provided by Infineum. Each Party shall be responsible for, and shall indemnify, defend and hold harmless the
other Party and the other Party’s Eligible Indemnitees from, any Third Party Claim for Non-Consequential Damages arising out of Products sold or otherwise made available to a Third Party or services provided by the other Party to a Third Party
following the Commencement Date to the extent arising out of the Wilful Misconduct of the indemnifying Party or the indemnifying Party’s Affiliate and all Losses that the 

  

 38 

	 	 
indemnified Party and the indemnified Party’s Eligible Indemnitees may incur as a result of such Claim. 

  

	4.4.7 	Except to the extent Article 4.4.6 applies, each Party shall be responsible for, and shall indemnify, defend and hold harmless the other Party and the other Party’s Eligible
Indemnitees from, any Third Party Claim to the extent arising out of the acts or omissions of the indemnifying Party, the indemnifying Party’s Affiliates and their respective officers, directors (or equivalent), employees, agents and
Contractors following the Commencement Date and any Loss that the other Party or the other Party’s Eligible Indemnitees may incur as a result of such Third Party Claim. 

  

	4.4.8  a.	Operator’s Environmental Indemnification During Operational Period. The Operator shall be responsible for and shall indemnify, defend and hold harmless Infineum and its
Affiliates and their respective employees, officers and directors (or their equivalents) from or against any Environmental Claim or Loss arising therefrom, arising with respect to the Facilities, to the extent such Environmental Claim or Loss arises
out of acts, omission or events occurring during the term of this Agreement, except to the extent such Environmental Claim or Loss arises out of (i) acts of God, acts of nature, and other causal events beyond the control of natural persons,
including, without limitation, rain, wind, lightning, flood, tornado, hurricane, earthquake, mudslide, extraordinary cold, snow, ice, droughts, plague, pestilence, epidemic or similar causes, or (ii) any act or omission of Infineum or its Affiliates
or their respective employees, officers, or directors (or their equivalents) or their contractors. 

  

	 	b.	Operator’s Environmental Indemnification After Operational Period. The Operator shall be responsible for and shall indemnify, defend and hold harmless Infineum and its
Affiliates and their respective employees, officers and directors (or their equivalents) from and against any Environmental Claim or Loss arising therefrom, arising with respect to the Facilities, to the extent such Environmental Claim or Loss
arises out of any act or omission of the Operator or its Affiliates or their respective officers, directors (or their equivalents), or employees, agents or contractors after the termination of this Agreement, provided however that this
indemnification shall not be in effect if and to the extent that Infineum succeeds to the ownership of the facilities after the termination of this Agreement. 

  

	 	c.	Infineum’s Environmental Indemnification During the Operational Period. Infineum shall be responsible for and shall indemnify, defend and hold harmless the Operator, and
its Affiliates and their respective employees, officers and directors (or their equivalents) from and against any Environmental Claim or Loss arising therefrom, arising with respect to the Facilities, to the extent such Environmental Claim or Loss
arises during the term of this Agreement out of (i) acts of God, acts of nature, and other causal events beyond the control of natural persons, including, without limitation, rain, wind, lightning, flood, tornado, hurricane, earthquake, mudslide,
extraordinary cold, snow, ice, droughts, plague, pestilence, epidemic or similar causes during the term of this Agreement, or (ii) any act or omission of Infineum or its Affiliates or their respective employees, officers, or directors (or their
equivalents) or their contractors during the term of this Agreement. 

  

 39 

	 	d.	Infineum’s Environmental Indemnification After the Operational Period. Infineum shall be responsible for and shall indemnify, defend and hold harmless the Operator, and
its Affiliates and their respective employees, officers and directors (or their equivalents) from and against any Environmental Claim or Loss arising therefrom, arising with respect to the Facilities, to the extent such Environmental Claim or Loss
arises after the termination of this Agreement, but only if and to the extent that any such Environmental Claim or Loss does not arise out of the acts or omissions of the Operator or its Affiliates or their respective officers, directors (or their
equivalents) or employees, agents or contractors; provided however that this indemnification shall not be in effect if and to the extent that Operator succeeds to the ownership of the Facilities after the termination of this Agreement.

  

	 	e.	Shared Facilities. Where any Environmental Claim or Loss arises with respect to any Shared Facilities, the phrase “arising with respect to the Facilities.” where
ever used in this clause 4.4.8 means that the indemnitor shall be liable for that percentage of the Environmental Claim or Loss equal to each Owner’s respective ownership and leased interest in such Shared Facilities. 

 

	 	f.	Burden of Proof Before 5 Years. Notwithstanding anything to the contrary in 4.4.8.c or 4.4.8.d above, any Environmental Claim arising from actual or alleged contamination of
the Facilities (including easements related thereto) of which both the Operator and Infineum became aware, as evidenced by written documents, at any time prior to the fifth (5th) anniversary of the end of the termination of this Agreement (regardless of the date on which such Environmental Claim results in Losses) will be presumed to
be covered by the indemnity of Operator under clause 4.4.8.a or 4.4.8.b, above, unless and to the extent that the Operator demonstrates by clear and convincing evidence that such Environmental Claim or resulting Loss arose out of acts, omissions or
events covered by Infineum’s indemnity under clause 4.4.8.c or clause 4.4.8.d, above. 

  

	 	g.	Burden of Proof On or After 5 Years. Notwithstanding anything to the contrary in 4.4.8.a or 4.4.8.b above, any Environmental Claim arising from actual or alleged
contamination of the Facilities (including easements related thereto) of which both the Operator and Infineum became aware, as evidenced by written documents, at any time on or after the fifth (5th) anniversary of the end of the termination of this Agreement (regardless of the date on which such Environmental Claim results In Losses) will be presumed to
be covered by the indemnity of Infineum under clause 4.4.8.c or clause 4.4.8.d, above, unless and to the extent that Infineum demonstrates by a preponderance of the evidence that such Environmental Claim or resulting Loss arose out of acts,
omissions or events covered by the indemnity of the Operator under clause 4.4.8.a or clause 4.4.8.b., above. 

  

	 	h.	 Burden of Proof - Phase II Study. Notwithstanding the foregoing provisions of clauses 4.4.8.f and 4.4.8.g, if the Operator performs or causes or consents to
the performance of an environmental site investigation, testing and study involving an intrusive testing, study or analysis of soil, water, or other substances according to a protocol and using a contractor each mutually agreed by Operator and
Infineum (a “Phase II Study”) at the Site within the period commencing ninety 

  

 40 

	 	 
(90) days prior to the termination of this Agreement, any Environmental Claim arising from actual or alleged contamination of the Facilities (including
easements related thereto) as to which neither the Operator nor Infineum became aware upon the completion of such Phase II Study (which shall be conclusively established by the absence of written documentation indicating that either was aware),
shall be presumed to have arisen out of acts, omissions or events that occurred after the termination of this Agreement unless and to the extent that Infineum demonstrates by clear and convincing evidence that such Environmental Claim or resulting
Loss arose out of acts, omissions or events that occurred on or before the termination of this Agreement. Infineum hereby consents to the conduct of such a Phase II Study at such time by the Operator. 

  

	 	i.	Environmental Law at Time of Termination Controls. The Operator’s indemnity obligations in clause 4.4.8.a and clause 4.4.8.b shall be limited to the liability arising
under, and the minimum level of cleanup, removal, response, remediation or other action required under, Environmental Laws in effect in the jurisdiction with authority over such Environmental Claim the day of termination on this Agreement that are
first asserted after such date. 

  

	 	j.	Operator’s Indemnification for Asbestos. The Operator shall be responsible for and shall indemnify, defend and hold harmless Infineum and its Affiliates and their
respective employees, officers and directors (or their equivalents) from and against any Environmental Claim or Loss arising therefrom to the extent such claim arises out of (i) operational and maintenance procedures pertaining to asbestos
containing materials and/or the removal, disposal, encapsulation and/or containment of asbestos containing material, and/or the Operator’s failure to take any such action, occurring within the Site during the term of this Agreement, if and to
the extent that such Environmental Claim or Loss arises out of the acts or omissions of the Operator or its Affiliates or their respective officers, directors (or equivalent), employees, agents or contractors, or (ii) claims for actual or alleged
personal injury, sickness or death relating to exposure to asbestos containing materials, by reason of employment or otherwise, occurring of alleged to have occurred within the Site during the term of this Agreement. 

  

	 	k.	Infineum’s Indemnification for Asbestos. Infineum shall be responsible for and shall indemnify, defend and hold harmless the Operator and its Affiliates and their
respective employees, officers and directors (or their equivalents) from and against any Environmental Claim or Loss arising therefrom for actual or alleged personal injury, sickness or death relating to exposure to asbestos containing materials, by
reason of employment or otherwise, occurring or alleged to have occurred within the Site and with respect to the Facilities at any time after the term of this Agreement. 

  

	 	l.	 Survival. The indemnification, defense and hold harmless obligations of the Operator (i) under clause 4.4.8.a shall survive for a period of fifteen (15)
years after the termination of this Agreement, and (ii) under clause 4.4.8.b shall survive until the expiration of the applicable statute of limitations; provided that such obligations shall survive and continue after such periods with respect to
any Environmental Claim that is asserted in reasonable detail against the Operator prior to the expiration of such periods; and provided further that to the extent that the Operator or Infineum has remediated a particular hazardous substance at a

  

 41 

	 	 
particular location at the Site in compliance with the requirements or orders of governmental authorities at the time of remediation, its indemnification,
defense and hold harmless obligations with respect thereto shall terminate. The indemnification, defense and hold harmless obligations of Infineum in this Clause 4.4.8 shall, except as otherwise provided herein, survive indefinitely.

  

	 	m.	The Parties acknowledge that Infineum pays the Risk Premium, in part, because of the obligations of the Operator set out in Clause 4.4.8. 

  

	4.4.9   	To the extent necessary, each Party shall obtain appropriate waivers of subrogation from its insurers so that such insurer is bound by the division of responsibility for Claims and
Losses pursuant to the provisions of this Article 4.4. 

  

	4.4.10 	For any Claim for indemnification by a Party against the other Party that is a Claim for the claiming Party’s own Losses, the claiming Party shall give prompt notice of such
Claim to the other Party from whom the indemnity is sought, specifying such Claim in reasonable detail and including an estimate of the amount of potential Losses attributable to such Claim and the basis for indemnification. The following procedures
shall apply to Third Party Claims, Employee Claims and Environmental Claims not solely involving a Party’s own Losses: 

  

	 	a.	If any Claim is asserted against a Party and such Party (“Party 1”) intends to assert a right to indemnification by the other Party (“Party 2”), then Party 1
shall give prompt notice of the Claim to Party 2 and a copy of any papers served with respect to such Claim. Party 1’s notice shall specify in reasonable detail the Claim, and include an estimate of the amount of potential Losses attributable
to such Claim and the basis for indemnification. The failure of Party 1 to promptly notify Party 2 shall not relieve Party 2 from any duty to indemnify hereunder, unless and to the extent that Party 2 demonstrates that such failure to promptly
notify materially prejudiced its ability to defend the Claim. 

  

	 	b.	 Party 2 shall have the right to assume control of the defense of the Claim at its own expense by giving prompt written notice to Party 1, using counsel of its
choice reasonably acceptable to Party 1. In such event, Party 1 shall have the right, at its option, to participate in the defense of the Claim, but such participation shall be at Party 1’s sole expense without right to seek indemnification for
such expense from Party 2 hereunder unless (i) the employment of Party 1’s counsel is specifically authorized in writing by Party 2; (ii) Party 2 fails to assume the defense or diligently prosecute the Claim; or (iii) there shall exist or
develop a conflict that would ethically prohibit Party 2’s counsel from representing Party 1. If Party 2 does not notify Party 1 in writing within thirty (30) days of Party 1’s notification of such Claim that Party 2 will assume control of
the defense of the Claim, or if Party 2 thereafter fails to diligently defend the Claim, then Party 1 may assume control of the defense of the Claim with counsel of its choice reasonably acceptable to Party 2. In such event, Party 2 shall have the
right, at its option, to participate in the defense of the Claim, but such participation shall be at Party 2’s sole expense without right to seek indemnification for such expense from Party 1 hereunder unless (i) the employment of Party
2’s counsel is specifically authorized in writing by Party 1; (ii) Party 1 fails to assume the defense or diligently prosecute the Claim; or (iii) there shall exist or develop a conflict that would ethically prohibit Party 1’s 

  

 42 

	 	 
counsel from representing Party 2. Either Party may bring an action to cause the other Party to be joined as a party in any proceeding as to which any right
of indemnification under this Article 4.4 would or might apply, for the purpose of enforcing such right of indemnity, and the expense of such joinder shall be covered hereby to the same extent as the underlying Claim and resulting Losses.

  

	 	c.	The Parties shall cooperate in the defense of any Claim and each Party shall, subject to the confidentiality provisions of Article 4.3, provide to the other Party reasonable access
to its personnel and books and records in its possession or control to the extent reasonably necessary or useful to the defense of the Claim. 

  

	 	d.	The Party assuming control of the defense of any Claim shall have the right, acting in good faith and with due regard to the interests of the other Party, to control all decisions
regarding the handling of the defense without the consent of the other Party, including the making of any counterclaim or cross-complaint arising out of the same actions or facts giving rise to the Claim, but neither Party shall have the right to
compromise or settle any Claim, or consent to the entry of any judgment with respect to such Claim, without the consent of the other Party, which consent shall not be unreasonably withheld except that the consent of the other Party is not required
if such compromise, settlement or consent includes an unconditional release of the other Party and its Affiliates from all liability and obligations arising out of such Claim. In no event may either Party enter into any compromise or settlement that
enjoins or restricts the business of the other Party or otherwise imposes future obligations on the other Party without the prior written consent of such other Party. 

  

	4.4.11 	Any Claim or Loss partially covered by Shell’s indemnity and partially by Infineum’s indemnity shall be apportioned based on the extent to which events, acts or omissions
for which each Party is responsible contributed to the cause of the Claim or Loss. 

  

	4.4.12 	[Intentionally deleted] 

  

	4.4.13 	Neither Party’s responsibility for Claims and Losses shall be limited to the amount of insurance that may be maintained by such Party. 

  

	4.4.14 	Each Party shall attempt to mitigate and shall cause each of its Eligible Indemnitees to attempt to mitigate any Loss it may suffer as a consequence of any matter giving rise to a
Claim by taking all actions which a reasonable person would undertake to minimize or alleviate the amount of such Loss and the consequences thereof, as if such person would be required to suffer the entire Loss and the consequences thereof by
itself, without recourse to any remedy against another person, including pursuant to any right of indemnification hereunder, provided that nothing in this Agreement shall oblige any Party or any of its Eligible Indemnitees to seek recourse from its
insurers. 

  

	4.5	INSURANCE 

  

	4.5.1	Neither Owner is obligated to maintain property insurance or business interruption insurance with respect to the Facilities. Unless Article 4.5.2 applies, each Owner shall have
exclusive right, title and interest in any property insurance maintained by it with respect to its interest in the Facilities, and all proceeds paid or payable under such property insurance and/or business interruption insurance policies.

  

 43 

	4.5.2 	If the Owners decide to jointly purchase property insurance with respect to the Shared Facilities, the premiums for such insurance shall be a Fixed Cost and both Owners shall comply
with the terms and conditions of such policy. All proceeds paid or payable under such property insurance and/or business interruption insurance policies shall be shared between the Owners in accordance with their respective ownership interest in the
damaged Shared Facility. 

  

	4.5.3 	Neither Owner shall be required to maintain liability insurance with respect to its operations. Both Owners shall maintain workers’ compensation insurance and other insurance
to the extent required by applicable law. 

  

	4.6	FORCE MAJEURE 

  
 No liability shall result to any Party hereto for delay in performance or for nonperformance of any obligation (other than the making of payments properly
due hereunder) if (a) such delay or nonperformance is caused by “Force Majeure”, which means circumstances reasonably beyond the Party’s control, including acts of God, fire, earthquakes, tides, floods, lightning, storms or
unusually bad weather, war (declared or undeclared), explosions or other disruptions, mechanical breakdown, electrical shortage or blackout, decline or shortages of supply, labor strikes or lockouts, quarantine restrictions, epidemics, hostilities,
riots, insurrections or civil commotion, blockade, or laws, decrees, regulations, orders or other directives or actions of either general or particular application of any governmental body, including the taking of property; (b) the Party claiming
relief under this Article promptly notifies the other Party of such circumstances in writing, giving full particulars of the causes relied upon and their anticipated duration; and (c) the Party so claiming relief exercises due diligence in
continuously undertaking to remedy and overcome the cause of such Force Majeure as promptly as possible and to avoid a substantial disproportionate adverse economic effect of the Force Majeure impacting one Owner as compared to the
other Owner or impacting the Facilities as compared to the other manufacturing facilities at the Site (or vice versa). Upon remedying or overcoming such cause, the Party claiming relief under this Article shall promptly notify the other Party of the
termination of such Force Majeure condition. For purposes of the foregoing, the settlement of a labor strike, lockout or any other kind of labor dispute is not within the reasonable control of the Party affected and the requirements of this
Article shall not oblige that Party to settle a strike, lockout or other labor dispute on terms contrary to its wishes. 
  

	4.7	HARDSHIP 

  
 If during the period of this Agreement there is a substantial change in economic or political or manufacturing circumstances which affects its operation
such that one or more of its terms becomes excessively onerous to either Party (hereinafter: “Hardship”), the Parties will meet forthwith to review the situation and discuss in good faith alleviation of the Hardship by renegotiation of the
relevant term or terms of this Agreement. The Parties shall review periodically (at least once every six (6) months if appropriate) the situation. As soon as the cause of Hardship no longer exists the previous term or terms of this Agreement shall
be automatically reinstated with such modifications as the Parties may have agreed. 
  

 44 

	4.8	TERM AND TERMINATION 

  

	4.8.1	This Agreement shall be effective from the Commencement Date and shall remain in force for an initial term of thirty (30) years and shall be automatically renewed thereafter for
extension periods of five (5) years each, unless terminated by mutual agreement or in accordance with the provisions of this Article 4.8 or of Article 2.8.3. Upon any termination of this Agreement, Operator shall pay to Infineum an amount equal to
Infineum’s normal inventory requirements of Shared Materials as specified on Schedule 1 (as adjusted from time to time pursuant to Article 3.4.4) at the then current replacement costs thereof and such inventory shall be retained by Operator.
Upon any termination of this Agreement, Operator shall have the option to either pay to Infineum an amount equal to Infineum’s normal inventory requirements of Infineum Materials as specified on Schedule 1 (as adjusted from time to time
pursuant to Article 3.4.4) at the then current replacement costs thereof and retain such inventory, or alternatively return such inventory to Infineum by putting it at Infineum’s disposal. 

  

	4.8.2	Either Party may oppose renewal of this Agreement at the end of the initial term or at the end of each extension period of five (5) years by giving the other Party at least three
(3) years’ prior written notice. Unless the parties agree otherwise, Shell shall upon termination of this Agreement either, at Shell’s option, (i) to the extent necessary for Infineum to produce Infineum Product at the Site, grant Infineum
a thirty-year, royalty-free, non-exclusive, irrevocable license of process technology and know-how, together with a non-exclusive. irrevocable license under patents and other intellectual property rights of Shell pertaining to the technology of
Shell used at the Site to produce Infineum Product, and Shell shall provide sufficient training to Infineum’s employees to allow the Facilities to continue to be used by Infineum for the production of Infineum Product or (ii) agree to continue
to operate the Facilities, whereby the terms of this Agreement shall apply mutatis mutandis, except that: 

  

	 	a.	Infineum shall pay, in addition to the Charges, a reasonable fee for the operation of the Facilities; 

  

	 	b.	the Commencement Date shall be the date this Agreement terminates; 

  

	 	c.	Article 4.8.1 shall read: “This Agreement shall be effective from the Commencement Date and shall remain in force for an initial term of five (5) years and shall be
automatically renewed thereafter for extension periods of five (5) years each, unless terminated by mutual agreement or in accordance with the provisions of this Article 4.8 or of Article 2.8.3.”; 

  

	 	d.	such other changes shall be included as the Parties may agree. 

  

	4.8.3	[Intentionally deleted] 

  

	4.8.4	 At any time after the fifth (5th) anniversary of the Commencement Date, either Owner (the “Exiting Owner”) may give the other Owner (the “Non-Exiting
Owner”) written notice that it wishes to Exit, specifying the effective date of such Exit. The Exit notice shall be given promptly after the decision of the Exiting Owner to Exit has been made. After the Exit notice has been given, neither
Owner shall increase its temporary use of spare capacity of the other Owner pursuant to Article 2.2.3, and all rights to temporary use of spare capacity of the other Owner pursuant to Article 2.2.3 shall end twelve (12) months 

  

 45 

	 	 
after receipt of the Exit notice by the Non-Exiting Owner, in each case unless the Owners agree otherwise. From the effective date of the Exit as specified
in the Exit notice, Operator shall reduce on a commercially reasonable basis the Fixed Costs for the Facilities as soon as is reasonably possible so as to downsize operations to the extent possible to match the Non-Exiting Owner’s Capacity
Rights. The Exiting Owner shall pay all commercially reasonable cash costs, including personnel termination cost (including those actuarially determined), resulting from Operator’s Fixed Cost reduction efforts in response to the Exit. Without
prejudice to the previous sentence, and in deviation from the provisions of the Articles 2.3 and 3.4, the Exiting Owner shall be under no obligation to pay any costs directly related to the operation of the Shared Facilities from the effective date
of the Exit, except those Fixed Costs that cannot be appropriately downsized within such time period. If Shell is the Exiting Owner, Infineum shall have the option to require either (i) that Shell will transfer to Infineum at Shell’s expense
appropriate replacement Infineum Product production capacity at an Other Shared Facility or another existing manufacturing facility which is at that time capable of producing Infineum Product and which is operated by Shell or an Affiliate of Shell,
and keep Infineum whole for any direct, out-of-pocket costs of Infineum resulting from termination of this Agreement, or, alternatively, (ii) that Shell will sell all of Shell’s rights in the Shared Facilities to Infineum and will, to the
extent necessary for Infineum to produce Infineum Product at the Site, grant Infineum a thirty-year, royalty-free, non-exclusive, irrevocable license of process technology and know-how, together with a non-exclusive, irrevocable license under
patents and other intellectual property rights of Shell pertaining to the technology of Shell used at the Site to produce Infineum Product, and Shell shall provide sufficient training to Infineum’s employees to allow the Facilities to continue
to be used by Infineum for the production of Infineum Product. If Infineum is the Exiting Owner, Infineum shall have the right to require Shell to purchase all of Infineum’s rights in the Shared Facilities, and Shell shall have the right to
require Infineum to sell all of Infineum’s rights in the Facilities. In all cases the purchase price shall be equal to, unless agreed otherwise, the fair market value of the Exiting Owner’s interest in the Facilities, taking into
consideration the state of repair and age of the Facilities, to what extent and when Non-Exiting Owner is reasonably expected to be in need of extra capacity in excess of its Capacity Rights under Article 2.2.1 and the alternative cost of acquiring
such extra capacity at such expected time. The Owners, acting reasonably and in good faith, shall negotiate and agree on a valuation methodology, appraisal procedures, closing terms and conditions and other relevant commercial considerations to
implement the provisions of this Article 4.8.4. Additionally, either Owner may require that part or all of such issues be negotiated in good faith in connection with any transfer of the Non-Exiting Owner’s interest in the Facilities to a Third
Party, as the case may be. Unless the Owners agree otherwise, on the third anniversary of the effective date of the Exit, the expectations regarding the Non-Exiting Owner’s need of extra capacity in excess of its Capacity Rights under Article
2.2.1 used to determine the purchase price of the Exiting Owner’s interest in the Facilities shall be compared to the Non-Exiting Owner actual usage of the Facilities acquired from the Exiting Owner under this Article 4.8.4, and appropriate
corrections to the purchase price shall be made, including interest at the Interest Rate. Any transfer of a Exiting Owner’s share in the Facilities or of replacement Infineum Product production capacity pursuant to this Article 4.8.4, and any
grant of a license pursuant to this Article 4.8.4, shall close three (3) months after the Exit notice has been given, or on the effective date of the Exit, whichever is later, or on such other date as Owners may agree, and this Agreement shall
terminate on such closing date. Any payments of costs pursuant to this Article 4.8.4 shall be invoiced when actually incurred, and the provisions of Article 3.5 shall apply mutatis mutandis. 

  

 46 

 4.8.5 As soon as practical after termination of this Agreement, Operator shall provide a
final reconciliation of charges and the provisions of Article 3.5.5 shall apply mutatis mutandis. Any overcharges or undercharges shall be paid by the Party owing the same within twenty (20) days following the final reconciliation (after any
required adjustments have been made). The final recalculation shall be broken down in sufficient detail as either Owner may reasonably request and as Operator can reasonably provide. From the due date of the reconciliation payment, interest will
accrue at the Default Rate. The Parties shall meet to resolve any dispute as expeditiously as possible. 
  

	4.8.6	In the event of an extension of this Agreement or the Parties’ continuing use of the Facilities in accordance with this Article 4.8, the Parties shall agree to necessary
extension of the Easement Agreement between Shell and Infineum, dated as of October 1,1998, and of any other agreement, to implement the provisions of this Article 4.8. 

  

	4.8.7	Articles 2.9.3, 3.5.5, 3.7, 4.2, 4.3, 4.8, 4.9 shall survive any termination of this Agreement. Article 4.4 shall survive any termination of this Agreement as to events, acts and
omissions that have occurred prior to termination of this Agreement. 

  

	4.9	DISPUTE RESOLUTION 

  

	4.9.1	Any dispute arising out of or in connection with this Agreement, including any question regarding its existence, validity or termination, shall be exclusively processed as follows.
First, the dispute shall be discussed by the Parties thereto in an attempt to reach an amicable solution. If such attempt fails within ninety (90) days from the first written notice by one Party to the other Party that a dispute exists (or such
shorter period as is reasonable under the circumstances), the matter may be submitted by either Party to the executive officers of Operator and Infineum who are in charge of manufacturing in the United States of America. Such officers, acting
directly or through senior officers appointed by them, shall mediate the dispute with the goal of attaining a solution satisfactory to both Parties. If the dispute is not resolved within thirty (30) days after appointment of the mediators, either
Party may institute arbitration proceedings in accordance with Article 4.9.2. 

  

	4.9.2	If the dispute is not resolved through the mediation process described in Article 4.9.1, either Party may require that such dispute be submitted to binding arbitration in accordance
with the UNCITRAL Arbitration Rules (the “Rules”) in effect at the time of the dispute. The proceedings will be held in Houston, Texas, unless the Parties agree otherwise. The dispute shall be arbitrated in accordance with the substantive
laws of Delaware, but the Parties expressly intend for the Rules to govern over any contrary laws of such State pertaining to the conduct of, or binding nature or effect of, the arbitration proceedings. 

  

	4.9.3	The number of arbitrators shall be three (3). The three (3) member arbitration panel shall select a chairman. The Parties and the arbitrators shall hold the proceedings and any
Confidential Information in confidence. 

  

	4.9.4	 Prompt and cost effective resolution of the dispute is important to the Parties. Discovery and other procedures shall be limited and streamlined to allow for prompt
resolution of the dispute. The arbitrators shall order the Parties to promptly exchange copies of all exhibits and witness lists, and, if requested by a Party, to produce other relevant 

  

 47 

	 	 
documents, to answer interrogatories, to respond to requests for admissions (which shall be deemed admitted if not denied) and to produce for deposition and,
if requested by the arbitrators or a Party, at the hearing, all witnesses that the other Party has listed and up to four other persons within such other Party’s control. The arbitrators shall limit the number of documents to be produced,
interrogatories and requests for admissions to a number determined by the arbitrators to be the minimum number that is reasonable and appropriate in the light of the complexity of the dispute. Any additional discovery shall only occur by agreement
of the Parties or as ordered by the arbitrators upon a finding of good cause. 

  

	4.9.5	With respect to awarding any monetary damages, the arbitration panel shall be limited to ruling for the recommended value or finding or outcome presented at the arbitration either
by Shell (as Owner and/or as Operator) or Infineum, and the arbitration panel may not determine another value, finding or outcome. The award of the arbitration panel shall be contained in a written, reasoned decision signed by a majority of the
arbitration panel. 

  

	4.9.6	Nothing herein prevents either Party from instituting arbitration proceedings in accordance with Article 4.9.2 for injunctive relief, specific performance or other equitable relief
at any time and without waiting for the expiration of any time periods for discussion or mediation contained in Article 4.9.1, if such Party believes, in good faith, that its rights will be materially impaired by waiting for such periods to expire.

  

	4.9.7	Pending resolution of any dispute between the Parties, whether discussed, mediated or arbitrated, the Parties shall continue to perform their respective obligations under this
Agreement. 

  

	4.9.8	Resolution of any dispute involving the payment of money by one Party to an other shall include payment of interest at either the Interest Rate or the Default Rate, whichever shall
be applicable. If no interest rate is specified herein as to the issue in question, the rate shall be the Interest Rate. 

  

	4.9.9	The prevailing Party in an arbitrated dispute shall be entitled to recover from the non-prevailing Party reasonable attorneys’ fees and arbitration fees and expenses.

  

	4.10	ASSIGNMENT 

  
 Except as provided in Article 2.6.4, neither Party shall be entitled to assign all or portion of its rights and obligations under this Agreement without
the prior written consent of the other Party. 
  

	4.11	NO THIRD PARTY RIGHTS 

  
 This Agreement is intended to be solely for the benefit of the Parties, and is not intended to confer any benefits upon, or create any rights in favor of,
any other person, except as expressly provided to the contrary elsewhere in this Agreement. 
  

 48 

	4.12	SEVERABILITY 

  
 If any of the provisions of this Agreement are found by a court or any other competent authority to be void or unenforceable, such provision shall be
deemed to be deleted from this Agreement and the remaining provisions of this Agreement shall remain and continue in full force and effect. In such event, the Parties shall thereupon negotiate in good faith in order to agree upon the terms of a
satisfactory provision to be substituted for the provision so found to be void and unenforceable. In the event that such a new provision cannot be found, the invalidity of one or more provisions of this Agreement shall not affect the validity of
this Agreement as a whole unless the invalid provision was of such essential importance to this Agreement that it is to be reasonably assumed that the Parties would not have entered into this Agreement without such provision. 
  

	4.13	WAIVER 

  
 The failure of either Party at any time to enforce any provision hereof shall in no way affect its right thereafter to require performance thereof, nor
shall the waiver of any breach of any provision hereof be taken or held to be a waiver of any succeeding breach of any such provision or as a waiver of the provision itself. 
  

	4.14	REGISTRATION 

  
 In the event that this Agreement or parts thereof can or must be recorded among the public records of the jurisdiction of the Site, then the Parties shall
provide for the registration of this Agreement or extracts or certifications thereof at one Party’s first request. 
  

	4.15	ENTIRE AGREEMENT, AMENDMENTS 

  
 This Agreement constitutes the entire agreement between the Parties relating to the subject matter hereof and supersedes any understandings and
representations whatsoever between the Parties relating to the subject matter hereof. Any amendment or modification hereof shall be ineffective unless in writing and signed by both Parties. 
  

	4.16	COMPLIANCE WITH APPLICABLE LAWS 

  
 In the performance of their obligations under this Agreement, the Parties shall observe and abide by applicable laws, rules and regulations including
those with respect to labor and HSE and take the necessary safety precautions related to their respective performance of the Agreement in order to protect all persons and property whatsoever. 
  

	4.17	NOTICES 

  
 All notices, requests, waivers, demands, directions and other communications required or permitted to be given under this Agreement shall be in writing
(including facsimile transmission and telex communications) and shall be deemed to be duly given when actually received. Notices shall be delivered personally or by overnight courier, certified or registered mail, facsimile transmission, or telex,
to the Parties as specified below or, as to each Party, at such other address as shall be designated by such Party in a written notice to the other Party complying with the terms of this Article 4.17: 
  

 49 

			
	Infineum:	  	Shell/Operator:
		
	 Infineum USA L.P.
 1900 East Linden Avenue
 Linden, New Jersey 07036
 Attention: Legal Manager,
 Fax No.: (908) 474-2431
	  	 Shell Elastomers LLC
 910 Louisiana
 Houston, Texas 77002
 Attention: Global Manager Kraton G
 Fax No.: (713) 241-0115

		
	with a copy to:	  	with a copy to:
		
	 Infineum International Ltd. Attention:
 Vice President
Manufacturing
 1220 Parkview
 Arlington Business Park

Theale, Reading RG7 4SA England
 Fax No.: 44-1189-31-7497
	  	 Belpre Chemical Plant
 2982 Washington Blvd.

P.O. Box 235
 Belpre, OH 45714
 Attention: Plant Manager

  

	4.18	GOVERNING LAW 

  
 This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware. 
  

	4.19	HOLIDAYS 

  
 Notwithstanding any deadline for payment, performance, notice, or election under this Agreement, if such deadline falls on a date that is not a business
day, then the deadline for such payment, performance, notice, or election will be extended to the next succeeding business day. 
  

 50 

	4.20	COUNTERPARTS 

  
 This Agreement may be delivered in separate counterparts. 
  
 IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be executed as of the day and year first above written. 
  

									
	 INFINEUM USA L.P.
	 	 	 	 SHELL ELASTOMERS LLC

	 By: Infineum USA Inc.
  General Partner
	 	 	 	 
					
	By:	 	/S/    JAMES A.
JOHNSON        	 	 	 	By:	 	/S/    A. J. NOOJIN III        
	 Title:
	 	President	 	 	 	 Title:
	 	President
			
	 SHELL CHEMICAL COMPANY 
on behalf of 
SHELL OIL COMPANY
	 	 	 	 
					
	By:	 	/S/    A. J. NOOJIN III        	 	 	 	 	 	 
	 Title:
	 	Attorney in Fact	 	 	 	 	 	 

  

 51 

  
 SCHEDULE 1A: OWNERSHIP
INTERESTS 
 AND 
 INVENTORY OF MATERIALS 
 AT OCTOBER 1, 1998 
  

						
	 	  	Infineum

	 	 	Shell

	 Proprietary Equipment
	  	100	%	 	—  
	 Infineum Product
	  	100	%	 	—  
	 Infineum Materials
	  	100	%	 	—  
	 Shared Facilities
	  	 	 	 	 
	 [***] [Confidential Treatment Required]
	  	*	**	 	***
	 [***] [Confidential Treatment Required]
	  	*	**	 	***
	 [***] [Confidential Treatment Required]
	  	*	**	 	***
	 [***] [Confidential Treatment Required]
	  	*	**	 	***
	Volumes of Materials Owned by Infineum	  	 	 	 	 
	Infineum Materials [see table below]	  	 	 	 	 
	Infineum’s share of Shared Materials and Normal	  	 	 	 	 
	Inventory Requirements (See Articles 2.5.3 and	  	 	 	 	 
	3.4.4) [see table below]	  	 	 	 	 
	Volumes of Materials Owned by Shell	  	 	 	 	 
	 Shell Materials
	  	 	 	 	 
	 Shell’s share of Shared Materials (See Article 2.5.3) [see table below]
	  	 	 	 	 
			
	 PROPRIETARY EQUIPMENT (100% JV OWNERSHIP
	  	 	 	 	 
			
	 [***] [Confidential Treatment Required]
	  	 	 	 	 
	 [***] [Confidential Treatment Required]
	  	 	 	 	 
	 [***] [Confidential Treatment Required]
	  	 	 	 	 
	 [***] [Confidential Treatment Required]
	  	 	 	 	 
	 [***] [Confidential Treatment Required]
	  	 	 	 	 
	 [***] [Confidential Treatment Required]
	  	 	 	 	 
	 [***] [Confidential Treatment Required]
	  	 	 	 	 
	 [***] [Confidential Treatment Required]
	  	 	 	 	 
	 [***] [Confidential Treatment Required]
	  	 	 	 	 
	 [***] [Confidential Treatment Required]
	  	 	 	 	 
	 [***] [Confidential Treatment Required]
	  	 	 	 	 
	 [***] [Confidential Treatment Required]
	  	 	 	 	 
	 [***] [Confidential Treatment Required]
	  	 	 	 	 
	 [***] [Confidential Treatment Required]
	  	 	 	 	 
	 [***] [Confidential Treatment Required]
	  	 	 	 	 
	 [***] [Confidential Treatment Required]
	  	 	 	 	 
	 [***] [Confidential Treatment Required]
	  	 	 	 	 
	 [***] [Confidential Treatment Required]
	  	 	 	 	 
	 [***] [Confidential Treatment Required]
	  	 	 	 	 
			
	VOLUMES OF MATERIALS OWNED BY INFINEUM	  	 	 	 	 
	Infineum Materials:	  	 	 	 	 

  

	[***] 	[Confidential Treatment Required] 

  

  

						
	 CHEMICAL/PACKAGING MATERIAL

	  	POUNDS OR
UNITS

	  	AMOUNT

	 [***] [Confidential Treatment Required]
	  	***	  	 	***
	 SV Bags
	  	226,968	  	$	 132,300
	 SV Cap
	  	18,975	  	$	103,983
	 SV Pads
	  	8,700	  	$	3,911
	 SV Pallet
	  	558	  	$	4,442
	 SV Tray
	  	113,905	  	$	187,260

  
 INFINEUM’s SHARE OF SHARED
MATERIALS: 
  
 Note: All materials with the exception of Infineum
Materials, Styrene, Isoprene and Cyclohexane were allocated to Infineum basis ownership percentage of existing assets 
  

						
	 CHEMICAL

	  	POUNDS

	  	AMOUNT

	 [***] [Confidential Treatment Required]
	  	***	  	 	***
	 [***] [Confidential Treatment Required]
	  	***	  	 	***
	 [***] [Confidential Treatment Required]
	  	***	  	 	***
	 [***] [Confidential Treatment Required]
	  	***	  	 	***
	 [***] [Confidential Treatment Required]
	  	***	  	 	***
	 METHANOL
	  	140	  	$	30
	 ALUMINA (ALCOA F-200 1/80)
	  	17,280	  	$	8,571
	 [***] [Confidential Treatment Required]
	  	***	  	 	***
	 [***] [Confidential Treatment Required]
	  	***	  	 	***
	 [***] [Confidential Treatment Required]
	  	***	  	 	***
	 [***] [Confidential Treatment Required]
	  	***	  	 	***
	 SODIUM HYDROXIDE CAUSTIC SODA DIA. GR)
	  	3,997	  	$	228
	 ANHYDROUS AMMONIA (PREMIUM GRADE)
	  	4,387	  	$	1,368
	 [***] [Confidential Treatment Required]
	  	***	  	 	***
	 [***] [Confidential Treatment Required]
	  	***	  	 	***
	 [***] [Confidential Treatment Required]
	  	***	  	 	***
	 [***] [Confidential Treatment Required]
	  	***	  	 	***
	 [***] [Confidential Treatment Required]
	  	***	  	 	***

  

						
	 PACKAGING MATERIAL

	  	UNIT QTY

	  	AMOUNT

	 Box Cap
	  	853	  	$	1,758
	 Box Pad
	  	1,511	  	$	 1,004
	 Bulk Box
	  	1,016	  	$	13,784
	 Clear Film
	  	14	  	$	1,743
	 Pallet
	  	888	  	$	9,879
	 Stretch Film
	  	41	  	$	1,298

  

				
	 STORES STOCK MATERIAL

	  	AMOUNT

	 G1 Unit
	  	$	55,435
	 G2 Unit
	  	$	491,298
	 Distribution
	  	$	22,116
	 Utilities
	  	$	80,460
	 QA Lab
	  	$	5,680
	 General Plant
	  	$	145,522

  
 Shell Materials 
  
 All materials not listed as Infineum Materials or Shared Materials are Shell Materials.

  

	[***] 	[Confidential Treatment Required] 

  
  

 SCHEDULE 1B: AGGREGATE OF OWNERSHIP 
 AND LEASED INTERESTS IN SHARED FACILITIES 
 FROM JULY 1, 1999 

 

									
	 Shared Facility

	  	Infineum

	  	Shell

	 	  	Owned

	  	Leased

	  	Agg

	  	Agg

	 ***
	  	***	  	***	  	***	  	***
	 ***
	  	***	  	***	  	***	  	***
	 ***
	  	***	  	***	  	***	  	***
	 ***
	  	***	  	***	  	***	  	***

  

	[***] 	[Confidential Treatment Required] 

  

  
 SCHEDULE 2: EXCLUDED
ASSETS 
  

						
	 	  	Infineum

	  	Shell

	 
	 - Any Assets owned by Third Parties
	  	—  	  	100	%
	 -All Site Land
	  	—  	  	100	%
	 -Any Shell Product
	  	—  	  	100	%
	 -Any Assets used for Shell Product only
	  	—  	  	100	%
	 -Other Site-Specific Assets
	  	—  	  	100	%

  

  
 SCHEDULE 3: [INTENTIONALLY
DELETED] 
  

  
 SCHEDULE 4: [INTENTIONALLY
DELETED] 
  

  
 SCHEDULE 5: FIELD OF
OPERATIONS 
  

	1.	The Field of Operations shall be limited to: 

  

	 	A.	Research, development, manufacture, use and sale, including without limitation technical service, customer service, formulating (including blending), logistics, distribution and
marketing, of: 

  

	 	(i)	additive components alone or in combination (“Additives”), intended for use in any one or more of the following applications: 

  

	 	a)	formulating finished lubricants or lubricant additive packages of any kind; 

  

	 	b)	formulating finished fuels or fuel additive packages of any kind; and 

  

	 	c)	applications other than lubricants or fuels as specified in Section 5 below; 

  

	 	(ii)	intermediates ultimately intended for use in manufacturing Additives for use in any one or more of the applications specified above in clause (i); 

  

	 	(iii)	finished fully synthetic non-automotive small engine oils for 2-stroke outboard and aircooled engines and 4-stroke outboard and motorcycle engines and finished fully synthetic
compressor oils, all sold in bulk; 

  

	 	(iv)	finished reference lubricants and fuels sold for use as testing standards; and 

  

	 	(v)	sales of polymers under agreements assigned or extended to Infineum or its Affiliates (collectively “an Additives Enterprise Company”) by a Party or its Affiliates at
Closing. 

  

	 	B.	The acquisition (by purchase, toll manufacture, or other comparable means) of Additives, intermediates and raw materials of any kind for use or resale in support of activities under
Section 1.A. above; 

  

	 	C.	The acquisition, disposal, licensing, and/or enforcement of rights with respect to tangible and intangible assets, know-how, patents, trademarks, service marks, copyrights and other
intellectual property of any kind (including patents covering any finished lubricants, finished fuels or products listed in Section 5. below which contain Additives) in support of activities under Section 1.A. and 1.B. above; and

  

	2.	The Field of Operations shall have a worldwide geographic scope. 

  

	3.	As used herein, “lubricants” is intended to include, but is not limited to the following: 

  

	 	A.	crankcase lubricants for passenger vehicles, trucks and tractors and for railroad and other industrial engines; 

  

	 	B.	two-cycle engine oils; 

  

	 	C.	gear oils; 

  

	 	D.	metal working and metal cutting fluids; 

  

	 	E.	greases; 

  

	 	F.	electro-rheological fluids; 

  

	 	G.	marine diesel cylinder lubricants; 

  

	 	H.	aviation and turbine lubricants; 

  

	 	I.	refrigerant oils; 

  

	 	J.	compressor oils; and 

  

	 	K.	other fluids relating to current and evolving engine applications (e.g., continuously varying transmissions). 

  

	4.	As used herein, “fuels” is intended to include, but is not limited to, the following: 

  

	 	A.	gaseous and/or light liquid fuels; 

  

	 	B.	gasoline, motor fuels and aviation fuels; 

  

	 	C.	distillates (including kerosene, diesel, heating oil, etc.); and 

  

	 	D.	fuel oil. 

  

	5.	As used herein, “applications other than lubricants or fuels” means the following list: 

  

	 	A.	formulating hydraulic fluids; 

  

	 	B.	formulating power transmission fluids; 

  

	 	C.	formulating bitumen (maleic anhydride adducts of higher olefins only); 

  

	 	D.	formulating textile chemicals (alkylxylene sulphonates only); 

  

	 	E.	formulating coatings (alkyxlene sulphonates only); 

  

	 	F.	formulating explosives (maleic anhydride adducts of polybutene, aminated derivatives thereof, and polybutene, only); 

  

	 	G.	dewaxing lube oil; and 

  

	 	H.	transporting crude oil (only: (i) wax crystal modifiers of the type sold or under development prior to the Closing Date by members of the Shell Group; and (ii) other wax crystal
modifiers, but only if Infineum provides Nalco/Exxon Energy Chemicals, LP. a right of first refusal to exclusively sell such modifiers). 

  

	6.	The lubricants and fuels as referred to herein may be based on either natural or synthetic materials. 

  

	7.	As used herein, Additives is intended to include, but is not limited to the following: 

  

	 	A.	anti-corrosion additives; 

  

	 	B.	anti-nitration additives; 

  

	 	C.	anti-oxidant additives; 

  

	 	D.	anti-ozonant additives; 

  

	 	E.	anti-polymerisation additives; 

  

	 	F.	anti-rust additives; 

  

	 	G.	anti-static agents; 

  

	 	H.	anti-wear additives; 

  

	 	I.	ash-settling additives; 

  

	 	J.	asphaltene inhibitors: 

  

	 	K.	carriers; 

  

	 	L.	cetane number improvers; 

  

	 	M.	cloud point improvers; 

  

	 	N.	combustion improvers; 

  

	 	O.	crude oil flow improvers and drag reducing agents; 

  

	 	P.	defoaming additives; 

  

	 	Q.	de-icers; 

  

	 	R.	demulsifiers; 

  

	 	S.	detergents; 

  

	 	T.	de-watering additives; 

  

	 	U.	dewaxing aids; 

  

	 	V.	dispersnats; 

  

	 	W.	distillate flow improvers; 

  

	 	X.	emulsifiers; 

  

	 	Y.	extreme pressure agents; 

  

	 	Z.	friction modifiers; 

  

	 	AA.	lubricant flow improvers;  

  

	 	BB.	lubricity additives;  

  

	 	CC.	markers for fuels and lubricants; 

  

	 	DD.	mercaptan scavengers; 

  

	 	EE.	metal deactivators; 

  

	 	FF.	neutralizers; 

  

	 	GG.	odorants; 

  

	 	HH.	oxygen scavengers; 

  

	 	II.	pour-point depressants; 

  

	 	JJ.	recycle process aids; 

  

	 	KK.	reodorants; 

  

	 	LL.	scavengers; 

  

	 	MM.	seal swell additives; 

  

	 	NN.	surfactants; 

  

	 	OO.	tackiness additives; 

  

	 	PP.	viscosity modifiers; and 

  

	 	QQ.	wax settling additives. 

  

	8.	The commercial manufacture and/or sale of products corresponding to the following are each expressly excluded from the Field of Operations: 

  

	 	A.	Except as provided in Section 5. above, components, alone or in combination, which are ultimately intended primarily for use in downhole drilling and crude oil and gas production
and refining, or chemical plant performance enhancement. 

  

	 	B.	Specific markers developed or used by the Shell Group for lubricants and/or fuels, on or before the Closing Date, except for sales to the Shell Group; and 

 

	 	C.	Except as provided in Section 1.A.(iii) or (iv) above, finished lubricants and/or fuels and their associated natural or synthetic base stocks as well as alcohols, ethers and other
blending stocks used in such finished lubricants and/or fuels, except when used in a performance-oriented functional role in an additive package. 

  

 SCHEDULE 6: ANNUAL PLAN AND BUDGET 
  
 Contents 
  

			
	 	  	Page

	 Capacity Rights & Usage
	  	2
		
	 Infineum Production Campaigns
	  	 
	 1. Campaigns and Volumes
	  	2
	 2. Scheduled Unit Shutdowns
	  	3
	 3. Off-Spec Target Levels
	  	3
	 4. Product Development Runs
	  	3
	 5. Variable Costs
	  	3
		
	 Infineum Warehousing Requirements
	  	4
		
	 Raw Material Inventory Requirements
	  	4
		
	 Operating Budgets / Fixed Costs
	  	5
		
	 Capital Expenditures Forecast
	  	 
	 1. Local GA
	  	6
	 2. Previously approved Capital Expenditures
	  	6
	 3. Forecasted Capital Expenditures
	  	7

  

 Page: 1 

  
 Capacity Rights and Usage

  

											
	 Infineum Capacity
Rights
 (mt)

	 	 	 Infineum Capacity
Usage
 (mt)

	 	 	 Infineum Capacity
Usage Shifted
from Berre
 (mt)

	 	 	 Capacity Usage
Required of Berre
 to fill Guarantee
(mt)

	 
	*	**	 	*	**	 	*	**	 	*	**

  

	_	- SV *** equivalent metric tons 

  
 Expected Production Campaigns 
  

															
	 Unit

	  	Product
Type

	  	Month

	  	Volume
(mlbs)

	  	Volume
(mt)

	  	Volume
(xxx
mt)

	  	Variable
Cost
(USD/
lb)

	  	Estimated
Variable
Cost
(USD)

	 G-2
	  	SV-260	  	Jan-99	  	***	  	***	  	***	  	***	  	***
	 	  	SV-300	  	Jan-99	  	***	  	***	  	***	  	***	  	***
	 	  	SV-200	  	Feb-99	  	***	  	***	  	***	  	***	  	***
	 	  	SV-250	  	Feb-99	  	***	  	***	  	***	  	***	  	***
	 	  	SV-50	  	Apr-99	  	***	  	***	  	***	  	***	  	***
	 	  	SV-260	  	May-99	  	***	  	***	  	***	  	***	  	***
	 	  	SV-300	  	May-99	  	***	  	***	  	***	  	***	  	***
	 	  	SV-250	  	Jun-99	  	***	  	***	  	***	  	***	  	***
	 	  	SV-50	  	Jul-99	  	***	  	***	  	***	  	***	  	***
	 	  	SV-260	  	Jul-99	  	***	  	***	  	***	  	***	  	***
	 	  	SV-300	  	Aug-99	  	***	  	***	  	***	  	***	  	***
	 	  	SV-200	  	Sep-99	  	***	  	***	  	***	  	***	  	***
	 	  	SV-250	  	Sep-99	  	***	  	***	  	***	  	***	  	***
	 	  	SV-50	  	Oct-99	  	***	  	***	  	***	  	***	  	***
	 	  	SV-260	  	Nov-99	  	***	  	***	  	***	  	***	  	***
	 	  	SV-300	  	Nov-99	  	***	  	***	  	***	  	***	  	***
	 	  	SV-250	  	Nov-99	  	***	  	***	  	***	  	***	  	***
	 G-l
	  	SV-40	  	Feb-99	  	***	  	***	  	***	  	***	  	***
	 	  	SV-40	  	Aug-99	  	***	  	***	  	***	  	***	  	***
	 	  	 	  	 	  	 	  	Totals	  	***	  	 	  	***

  

	1	– Variable costs in this table include distribution and repackaging/recycle costs. For reporting purposes distribution and repackaging/recycle costs will not be assigned to
production but will be kept as a separate line item. 

  

	[***] 	[Confidential Treatment Required] 

  

 Page: 2 

 Scheduled Unit Shutdowns 
 (tentative) 
  

							
	 Unit

	  	Date

	  	Downtime

	  	Reason

	 G-2
	  	3rd Quarter	  	10 days	  	Annual Maintenance
	 	  	3rd Quarter	  	11 days	  	G-2 Debottlenecking G-2D97
Phase Completion
	 G-1
	  	2nd Quarter	  	7 days	  	Annual Maintenance

  
 Off-Spec Target
Level 
  
 Basis the current schedule the Off-Spec Target Percentage for the
total year will be will be [***]  [Confidential Treatment Required]%. The off-spec target level is basis first time prime and excludes non-guaranteed production (products non-listed on schedule 13). 
  
 Product Development Runs 
  
 There is one product developmental run for Infineum. It is a 113 mton run on G-1 in the third
quarter of the year. The run is projected to take no more than 7 days to complete (including typechange timing). 
  
 Projected Variable Costs 
 Breakdown by Quarter 
  
 Variable Cost by Quarter (USD)1 
  

									
	1st

	 	2nd

	 	3rd

	 	 	4th

	 
	***	 	***	 	*	**	 	*	**

  

	1	– Variable costs in this table include distribution and repackaging/recycle costs. For reporting purposes distribution and repackaging/recycle costs will not be assigned to
production but will be kept as a separate line item. 

  

	[***] 	[Confidential Treatment Required] 

  

 Page: 3 

 Projected Infineum Warehousing Requirements 
  

			
	 Months

	  	Projected Inventory (mmlbs)

	 January
	  	***
	 February
	  	***
	 March
	  	***
	 April
	  	***
	 May
	  	***
	 June
	  	***
	 July
	  	***
	 August
	  	***
	 September
	  	***
	 October
	  	***
	 November
	  	***
	 December
	  	***

  
 Raw, Process & Packaging
Material Inventory Requirements 
  
 With the exception of DVB, Isoprene,
Styrene and Cyclohexane; raw and process material inventories were set basis Infineum ownership interest of the unit in question (32% for G-2, 10% for G-l and Tank Farm or general plant) and the total month end inventory of the material on September
30th, 1998. [***]  [Confidential Treatment Required] were set basis 1996 and 1997 historical usage. 

 
 Packaging materials were set basis ownership interest or usage in the case of materials
used exclusively for Shellvis production. 
  
 Raw / Process Materials

  

							
	 Material

	  	Inventory
Requirements

	 	Units

	  	Value
($)

	 Raw Materials
	  	***	 	 	  	***
	 [***]  [Confidential Treatment Required]
	  	***	 	***	  	***
	 [***]  [Confidential Treatment Required]
	  	***	 	***	  	***
	 [***]  [Confidential Treatment Required]
	  	***	 	***	  	***
	 [***]  [Confidential Treatment Required]
	  	***	 	***	  	***
	 [***]  [Confidential Treatment Required]
	  	***	 	***	  	***
	 [***]  [Confidential Treatment Required]
	  	***	 	***	  	***
				
	 Process Materials
	  	 	 	 	  	 
	 [***]  [Confidential Treatment Required]
	  	***	 	***	  	***
	 [***]  [Confidential Treatment Required]
	  	***	 	***	  	***

  
 [***] [Confidential Treatment
Required] 
  

 Page: 4 

							
	 ***
	  	***	  	***	  	***
	 ***
	  	***	  	***	  	***
	 Cyclohexane
	  	***	  	***	  	***
	 ***
	  	***	  	***	  	***
	 Sodium Hydroxide Caustic
	  	***	  	***	  	***
	 Anhydrous Ammonia
	  	***	  	***	  	***
	 ***
	  	***	  	***	  	***
	 ***
	  	***	  	***	  	***
	 Amberlite
	  	***	  	***	  	***
	 ***
	  	***	  	***	  	***
	 ***
	  	***	  	***	  	***

  
 Packaging Materials 

 

					
	 Material

	  	Units

	  	Value
($)

	 Box Cap
	  	***	  	***
	 SV Cap
	  	***	  	***
	 SV Tray
	  	***	  	***
	 Box Pad
	  	***	  	***
	 SV Pads
	  	***	  	***
	 Pallet
	  	***	  	***
	 SV Pallet
	  	***	  	***
	 Stretch Film
	  	***	  	***
	 Clear Film
	  	***	  	***
	 Bags
	  	***	  	***
	 Bulk Box
	  	***	  	***

  
 Fixed Cost Budget

  

			
	 Line Item

	  	Budget (MM US dollars)

	 Base3
	  	***
	 Turnaround
	  	***
	 Project2
	  	***
	 	  	

	 Total Plant Costs
	  	***
		
	 Risk Premium
	  	***
	 Personal Property Taxes
	  	***
	 Real Property Taxes
	  	***
	 Corporate Charges1
	  	***
	 	  	

	 Total Infineum Costs
	  	***
	 	  	

  

	1	_ See schedule 10 of the Belpre FS&O for corporate cost description. 

  

	2	_ Project costs listed here are the expense portion of capital projects. Budget assumes approval of all projects in Non-local General Appropriations Capital
Expenditures section. 

  

	[***] 	[Confidential Treatment Required] 

  

 Page: 5 

	3	_ Base cost includes WTC process support and Chemical Manufacturing and Distribution
Technical support (both of which are explained in schedule 10 of the Belpre FS&O. Off-site charges that are part of base costs are allocated to Infineum as 10% of the plant’s total charge. Also included is clerk hired to specifically handle
Infineum inventory order placement fulfillment. 

  
 Capital Projects 
  
 Total Local General
Appropriations Budget for Infineum 
  
 Capital expenditure for local GA
projects will be invoiced to Infineum in the month after expenditure. 
  
 [***]  [Confidential Treatment Required] 
  
 Capital Projects
Already Approved (work in progress) 
  

										
	 Project Name

	  	 Description

	  	Expense
Impact
on
Infineum
1999

	  	Capital
Impact
on
Infineum
1999

	 	 	Total
Expected
1999
Expenditure
(Infineum
Impact)

	 G-2 debottlenecking

	 •      G-2D971 Phase
	  	Complete project installation.	  	***	  	***	 	 	***
	 •      Packaging Phase Feasibility Study
	  	Determine feasibility of packaging phase of the G-2 debottlenecking project	  	***	  	***	 	 	***
	 ODS/LIMS
	  	Install operational data server for collection of operating data for troubleshooting and laboratory information management system	  	***	  	***	 	 	***
	 Replace Allen Bradley PLCs
	  	Project will replace obsolete ASRS Crane PLCs	  	***	  	***	 	 	***
	 Fast Track HC Analyzer Project
	  	Install new fast track hydrocarbon analyzer in G-2 to respond to high hydrocarbon events more quickly.	  	***	  	***	 	 	***
	 Replace A-9330 Check Weigher
	  	Replace interface between check weigher and document printer to ensure quality records are captured	  	***	  	***	 	 	***
	 Increase potable water pressure
	  	Install booster pump to allow backflow prevention on potable water supply to plant	  	***	  	***	 	 	***
	 	  	 	  	
	  	
	
	 	

	 	  	 Totals
	  	***	  	*	**	 	***
	 	  	 	  	
	  	
	
	 	

  

	1	_ Project will require development of a payment schedule versus invoicing after expenditure. Until a payment schedule is developed for already approved projects
Belpre will invoice Infineum in the month after expenditure. 

  

	[***] 	[Confidential Treatment Required] 

  

 Page: 6 

	2-	_ Expense costs related to capital project work is budgeted in the fixed costs section of
this budget. 

  
 Non- Local General Appropriations Capital
Expenditures 
  
 Note: All of these projects will require individual
approval by Infineum. This budget is not requesting approval of these projects with Annual Plan and Budget Approval. They are listed here strictly for possible capital expenditure projections. At the time of Infineum approval Shell and Infineum will
work out a payment schedule for these projects. Dollar amounts are Infineum’s share only. 
  
 Short Term Capital 
  
 G-2
Debottlenecking Project 
  
 Packaging Phase – Scope
Finalization and Engineering 
  

	 	•	 	Commitment of [***] [Confidential Treatment Required] in 1999 

  

	 	•	 	Expenditure of about [***] [Confidential Treatment Required] in 1999 (Capital Expenditure of [***] [Confidential Treatment Required] expense of [***] [Confidential Treatment
Required]). 

  
 G-l Debottlenecking Project

  

	 	•	 	Commitment of [***] [Confidential Treatment Required] in 1999 

  

	 	•	 	Expenditures of about [***] [Confidential Treatment Required] in 1999 

  
 Comments: Project scope, costs and timing have not been completely defined. 
  
 Long Term Capital 
  
 G-2 Debottlenecking Project – Packaging Phase 
  

	 	•	 	Expenditure of [***] [Confidential Treatment Required] in 2000 (assumes packaging equipment paid for upon delivery in 2000) 

  
 G-l debottlenecking 
  

	 	•	 	Expenditures of [***] [Confidential Treatment Required] in 2000 

  

 Page: 7 

 G-2D 2001 
  

	 	•	 	Commitment of about [***] [Confidential Treatment Required] in 2000 

  

	 	•	 	Expenditure of about [***] [Confidential Treatment Required] in 2000 

  

	 	•	 	Expenditure of about [***] [Confidential Treatment Required] in 2001 

  

 Page: 8 

  
 SCHEDULE 7: SITE
DESCRIPTION 
  
 The Belpre Elastomers Plant is: 
  
 A chemical manufacturing facility consisting of approximately 550 acres located in Town 2,
Range 10, Belpre Township, Washington County, State of Ohio, U.S.A., commonly known as Shell Chemical Company-Belpre Plant, 2982 Washington Boulevard, Belpre, Ohio 45714, U.S.A. Approximately 87.09 acres have been developed for manufacturing process
use and 61.4 acres developed for non-process use. Shellvis is manufactured here using a limited number of manufacturing vessels for a limited number of weeks each year. Such manufacturing requires the partial use of most of the support
infrastructure at the plant. 
  

  
 SCHEDULE 8: LEGAL
RESTRICTIONS 
  
 This schedule is intentionally left blank. 
  

  
 SCHEDULE 9: JOINT OR
ASSIGNED CONTRACTS 
  
 The following contracts will be Joint Contracts:

  

			
	 Counterparty

	  	 Description

	 TransDistribution Warehouse
	  	 Warehouse

	 Ametek
	  	 Toll converter

	 MIE
	  	 Repackage of Finished Product

	 Peoples Cartage
	  	 Warehouse

	 Atlas Trucking
	  	 Stock Transfer Freight

	 Merchants 5 Star
	  	 Stock Transfer Freight

	 Praxair
	  	 Nitrogen Supply

	 Air Products
	  	 Liquid Hydrogen Supply

  

  
 SCHEDULE 10: SPECIFIC
INCLUSIONS AND EXCLUSIONS 
  
 Off-Site Services 
  
 The following services are billed directly to the Belpre Elastomers Plant and will be
allocated to Infineum at 10% of their total: 
  
 Belpre Manufacturing Support
– Includes Westhollow Technical Center Process Support and Invoice processing. WTC support provides technical support in test run planning, process optimization and troubleshooting and customer complaint support. 
  
 Chemical Manufacturing and Distribution – Technical: Provides test run raw material
specification testing, planning & integration support. Review production capacity and capital project integration with existing units and Berre. Also included are reliability improvement and quality assurance system support. 
  
 Corporate Charges 
  
 The following will be invoiced as budgeted: 
  

					
	 	  	Monthly

	  	Annual

	 Procurement
	  	***	  	***
	 SSI Managed contracts with Site wide benefit
	  	***	  	***
	 Raw & Process Materials
	  	***	  	***
	 Packaging Materials Buyer
	  	 	  	 
	 Land
	  	 	  	 
	 Transportation
	  	 	  	 
	 Inbound rail for incoming product
	  	***	  	***
			
	 Marine Transportation
	  	 	  	 
	 Major Monomers
	  	***	  	***
			
	 Distribution Field Work
	  	 	  	 
	 Manage warehouse relationship with site
	  	 	  	 
	 Manage warehouse contract negotiation
	  	 	  	 
	 Manage freight from Belpre to off-site storage
	  	 	  	 
			
	 Supply Management
	  	***	  	***
	 Manage and Integrate SV schedule into Plant
	  	 	  	 
	 Plan for incoming Raw Materials to meet SV schedule
	  	 	  	 
	 Optimize recycle into SV schedule
	  	 	  	 
			
	 SAPr3
	  	 	  	 
	 Depreciation rotated to Plant IT Operating System
	  	***	  	***
			
	 Tax
	  	 	  	 
	 Property, Real Estate, Sales, Use Tax Support
	  	***	  	***

  
 [***] [Confidential Treatment
Required] 
  

					
	 MIMI
	  	 	  	 
	 Program required for production unit scheduling optimization
	  	***	  	***
			
	 Total
	  	***	  	***

  
 [***] [Confidential Treatment
Required] 
  

  
 SCHEDULE 11: SUMMARY OF
ACCOUNTING PRACTICES 
  
 Allocation of Fixed Costs 
  
 Fixed costs at Belpre pass through two main processes enabling allocation to Chemicals’
businesses. “Chemicals” refers to the following businesses: Additives (VI Improvers) and Elastomers (Kratons). 
  
 1) All transactions are input to the Belpre ledger SAP R/3 with a mandatory account allocation comprising: 
  

	 	•	 	COST ELEMENT 

  

	 	•	 	RESPONSIBLE COST CENTER 

  
 All costs are then processed, being identified as Belpre costs from the first two digits of the COST CENTER. COST CENTERS at Belpre will be categorized as follows: 
  

	 	•	 	100% Additives 

  

	 	•	 	100% Elastomers 

  

	 	•	 	Shared (shared between SCC and Infineum basis ownership percentages) 

  

	 	•	 	Indirect/Overhead Cost Centers (shared between SCC and Infineum basis ownership percentages) 

  
 The ownership percentage assignments for each Cost Center are maintained within SAP R3 by a Belpre financial analyst. 
  
 Within the SAP system: 
  

	 	•	 	The total costs for shared cost centers including the indirect/overhead cost centers are allocated basis ownership percentages in the first allocation cycle of SAP.

  

	 	•	 	Any fixed costs related to Infineum’s proprietary equipment or for the sole benefit of Infineum will be charged to an internal order designated as 100% Infineum.

  

	 	•	 	All costs for 100% Elastomers Cost Centers are excluded from calculations for Infineum. 

  
 2) To facilitate billing, the Additives share of costs are passed to an Infineum Cost Center which is an aggregate of the 100% Infineum
costs and Infineum’s allocation of shared costs. 
  
 Allocation of
Variable Costs 
  
 All variable costs attributable to Infineum’s
Shellvis products are charged as consumed. All variable cost data will be input to SAPr3 where the standard functionality for variable cost allocations will be utilized. 
  
 Within the SAP system: 
  

	 	•	 	Inventories of all raw, process and packaging materials are maintained in SAP at a standard price. 

  

	 	•	 	The above materials are allocated to products based on recipes using standard yields and standard prices. 

  

	 	•	 	Actual consumption of materials for the entire site are calculated at month-end basis physical inventory and variances (difference between standard and actual) are generated and
settled to products as part of the month-end closing process. 

  

	 	•	 	The variable costs of Utilities are allocated to the products at standard cost basis a variable activity rate for each unit. 

  

	 	•	 	Actual consumption of Utilities for the entire site are calculated at month-end and variances (difference between standard activity rate and actual) are generated and settled to
products as part of the month-end closing process. 

  
 Allocation
of Corporate Charges 
  
 Corporate charges for the benefit of Infineum will
be established and agreed upon annually as part of the Annual Plan and Budget. Monthly, 1/12th of the agreed upon
corporate charges will be charged to the Infineum Cost Center. 
  
 Note 1) Cost
Allocation procedures are currently the subject of a review by Shell Chemicals Global. It is very likely that some of the above allocation procedures could change as a result of this review. 
  

  
 SCHEDULE 12: CURTAILMENT
PROCEDURES 
  
 The Belpre Elastomers Plant will adjust unit production rates
to control service, utilities, materials and facilities usage under the constraints outlined in section 3.9 according to the following priorities (in order): 
  

	1.	Prevent adverse Health, Safety or Environmental problems. 

  

	2.	Prevent short-term1 product stock-out

  

	 	•	 	Any unit at Belpre facing short-term stock-out of product would be given priority usage of services, utilities, material and facilities usage in order to avoid loss of business
until the threat of stock-out is eliminated. 

  

	 	•	 	In the event multiple units are faced with short-term stock-outs priority would be determined in the following order until the threat of stock-out is eliminated:

  

	 	1.	Production required to meet contractual obligations with customers 

  

	 	2.	Production required by Strategic Customers 

  

	 	3.	Production required by sole source customers 

  

	 	4.	Production which returns the highest margin 

  

	3.	Prevent Deterioration of Inventory Position (including forecasted long-term stock-outs) 

  

	 	•	 	Any unit at Belpre facing forecasted drops below safety stock levels and/or cycle stock levels will be given priority in usage of services, utilities, material and facilities in
order to maintain safety stock and cycle stock levels above minimum quantities provided such usage does not create the possibility of short-term stock-out. 

  

	 	•	 	In the event multiple units are faced with drops below safety and/or cycle stock levels priority in usage of services, utilities, material and facilities would be based upon
production which returns the highest margin. 

  

	4.	Prevent Deterioration of Inventory Position Relative to Long-Term Business Strategy 

  

	 	•	 	Once minimum requirements to prevent short-term stock-out and maintain inventory above safety and cycle stock levels priority in usage of services, utilities, material and
facilities will be based upon the long-term business strategy for both the Joint Venture and Shell Elastomers. 

	1	Defined as three months. 

  

  
 SCHEDULE 13: COST
CONTRIBUTION AGREEMENT 
  
 A copy of the agreement follows. 
  

 CONFIDENTIAL 
  
 COST CONTRIBUTION AGREEMENT 
 FOR DIENE POLYMER PROCESS RESEARCH AND DEVELOPMENT 
  
 (SCHEDULE 13 TO THE AMENDED AND RESTATED 
 BELPRE FACILITY SHARING AND OPERATING AGREEMENT)

  
 by 
  
 and 
  
 between 
  
 INFINEUM USA L.P. 
  
 SHELL ELASTOMERS LLC 
  
 AND SHELL OIL COMPANY 
  

 1 

 COST CONTRIBUTION AGREEMENT 
 FOR DIENE POLYMER PROCESS RESEARCH AND DEVELOPMENT 
  
 (SCHEDULE 13 TO THE AMENDED AND RESTATED 
 BELPRE FACILITY SHARING AND
OPERATING AGREEMENT) 
  
 Clause 1 – Definitions 
  
 Clause 2 – Application of Program Results in the Operation of the Facilities

  
 Clause 3 – Term of the Agreement 
  
 Clause 4 – Program Definition and Performance 
  
 Clause 5 – Annual Meeting 
  
 Clause 6 – Rights in Program Technical Information and Intellectual Property

  
 Clause 7 – Payments; Refunds; Supplemental Rights 

 
 Clause 8 – Addresses of the Parties 
  
 Clause 9 – General Provisions 
  
  

 2 

 COST CONTRIBUTION AGREEMENT 
 FOR DIENE POLYMER PROCESS RESEARCH AND DEVELOPMENT 
  
 (SCHEDULE 13 TO THE AMENDED AND RESTATED 
 BELPRE FACILITY SHARING AND
OPERATING AGREEMENT) 
  
 This Cost Contribution Agreement, effective as of the
first day of July, 1999, is between infineum USA L.P. (“Infineum”), Shell Elastomers LLC (“Elastomers”), and Shell Oil Company (“SOC”) acting through its agent Shell Chemical Company. 
  
 Whereas, Elastomers and Infineum each holds certain undivided ownership interests and has
other interests in equipment and other property located within the Facilities (as hereinafter defined), which are utilized for the manufacture of certain hydrogenated diene polymers; 
  
 Whereas, pursuant to the Amended and Restated Facilities Sharing and Operating Agreement (FSO Agreement), Elastomers serves as Operator of
the Facilities, for the manufacture of Elastomers Product and Infineum Product; 
  
 Whereas, SOC has performed and/or contracted with others to perform, and Elastomers is performing and contracting with others (including Shell Chemical Company) to perform, proprietary research and development (“R&D”)
activities directed to processes for the manufacture of certain diene polymers which may generate results useful in the operation of the Facilities for manufacture of Elastomers Product and/or Infineum Product; and 
  
 Whereas, Infineum desires to acquire certain rights in respect of use by Elastomers as
Operator of all such research and development results in its operations of the Facilities for manufacture of Infineum Product pursuant to the FSO Agreement; 
  
 Now, therefore, in consideration of the premises and mutual covenants contained herein, Infineum, Elastomers and SOC agree as follows: 
  
 Clause 1 – Definitions 
  

	1.1	Capitalized terms used in this Agreement and not otherwise defined herein shall have the meanings set forth in The Amended and Restated Belpre Facility Sharing and Operating
Agreement. 

  

 3 

	1.2	The following terms shall have the indicated meanings: 

  
 “Diene Polymer” means hydrogenated diene polymer Product manufactured as Infineum Product in the Facilities under the provisions of the FSO
Agreement. 
  
 “Diene Polymer Process Technology” means
that technical information in the possession of Elastomers at the time in question, which has been exclusively used in, or was developed or acquired exclusively for use in, the manufacture of Diene Polymer and/ or research or development activities
in support thereof. Diene Polymer Process Technology includes, but is not limited to, SOC Program Technical Information and Elastomers Program Technical Information. 
  
 “SOC General Process R&D Program”, or “SOC Program”, means research and development activities in
support of processes potentially suitable for the manufacture of Diene Polymer in the Facilities, carried out by or for SOC from January 1, 1999, through June 30, 1999. 
  
 “Elastomers General Process R&D Program”, or “Elastomers Program”, means research and development
activities in support of processes potentially suitable for the manufacture of Diene Polymer in the Facilities, carried out by or for Elastomers from and after July 1, 1999, through the end of the term of this Agreement. 
  
 “SOC Program Technical Information” means all technical
information, know-how, inventions, discoveries and improvements which relate to manufacture of Diene Polymer in the Facilities and which result from or arise in connection with the SOC General Process R&D Program. 
  
 “Elastomers Program Technical Information” means all technical
information, know-how, inventions, discoveries and improvements which relate to manufacture of Diene Polymer in the Facilities and which result from or arise in connection with the Elastomers General Process R&D Program. 
  
 “SOC Program Intellectual Property Rights” means rights in trade
secrets, patents, and copyrights in and for SOC Program Technical Information. 
  
 “Elastomers Program Intellectual Property Rights” means rights in trade secrets, patents, and copyrights in and for Elastomers Program Technical Information. 
  
 “Annual Program Cost” means fully overheaded direct and indirect
actual costs incurred during the year 2000 or any subsequent calendar year, as the case may be, in connection with any and all Elastomers Programs, including related depreciation and related taxes and other governmental charges (other than those
measured by income) levied or imposed or required to be levied or imposed on or by SOC. 
  

 4 

 Clause 2 – Application of Program Results in the Operation of the Facilities 
  

	2.1	In consideration of the payments to be made by Infineum under this Agreement, neither SOC nor Elastomers will seek additional consideration from Infineum for SOC Program
Intellectual Property Rights or Elastomers Program Intellectual Property Rights in connection with any use which may be made of SOC Program Technical Information or Elastomers Program Technical Information in the manufacture of Infineum Product
under the FSO Agreement. 

  
 Clause 3 – Term of the
Agreement 
  

	3.1	Unless earlier terminated as provided herein, the terms and conditions of this Agreement Shall remain in effect for so long as the FSO Agreement remains in effect.

  

	3.2	Infineum shall have the right to terminate this Agreement as of the end of any calendar year, upon at least one year advance written notice to Shell. 

  

	3.3	Infineum and Elastomers shall each have the right to terminate this Agreement at the end of its initial five year term or as of the end of any calendar year thereafter, in either
case upon at least one year advance written notice to the other. 

  

	3.4	The rights of Infineum under Clause 2 shall remain in effect until termination of the FSO Agreement. Any rights granted to Infineum pursuant to a license under Clause 7.3(b) or
Clause 7.4 shall survive termination of this Agreement and termination of the FSO Agreement. 

  
 Clause 4 – Program Definition and Performance 
  

	4.1	Through June 30, 1999, SOC performed and contracted with others to perform the SOC Program. SOC has disclosed the SOC Program Technical Information to Elastomers and has granted
Elastomers a license under the SOC Program Intellectual Property Rights for use of the SOC Program Technical Information for the purposes of Elastomers’s operation of the Facilities. 

  

	4.2	 From and after July 1, 1999, Elastomers is performing and contacting with others to perform the Elastomers Program. Elastomers shall have the right to select the
particular research and/or development activities which make up the Elastomers General Process R&D Program in its sole discretion and without any obligation of notice to or consultation with Infineum, and without obligation to select or perform
activities expected to provide results which are of specific benefit to Infineum. Elastomers shall act as an independent contractor and shall have complete control over the performance of activities coming within the Elastomers 

  

 5 

	 	 
Program. Subject to Clause 7.3 and Clause 7.4 Elastomers does not have any obligation to Infineum with regard to the size or cost or scope of the Elastomers
General Process R&D Program. 

  

	4.3	Elastomers shall have the right to engage its affiliates and/or third party contractors and consultants in the performance of Elastomers Program activities.

  
 Clause 5 – Annual Meeting 
  

	5.1	At least once each calendar year during the term of this Agreement, representatives of Infineum and representatives of Elastomers shall meet for discussions of activities hereunder.
Without prejudice to other provisions of this Agreement, Elastomers will provide at such meetings, for discussion purposes only: 

  

	 	(a)	a summary of the prior year’s exploratory activities and an overview of the results of that exploratory work, including information on the nature of selected concepts
exhibiting promising results and the resources (approximate cost figures or percentages) which were devoted to such concepts; and 

  

	 	(b)	a summary of plans for the next year’s Elastomers Program activities directed to development of concepts which have shown promise in past research and development, including
information on the rationale for development, the benefits that are targeted and the resources that are thought to be required. 

  

	5.2	At Elastomers’s request, Infineum shall undertake for itself and procure from its representatives participating in such meetings (“Representatives”), appropriate
written obligations of confidentiality and restrictions on use in respect of information provided or discussed at the meetings, which may include but are not necessarily limited to obligations to be placed on each Representative not to disclose, to
any person except another Representative, information that is confidential-in-fact, and Infineum shall warrant the
compliance by all Representatives with the obligations and restrictions established under such written undertakings by Infineum. 

  
 Clause 6 – Rights in Program Technical Information and Intellectual Property 
  

	6.1	Subject to Clause 2.1, Clause 7.3 and Clause 7.4 hereof, title to and all other rights in SOC Program Technical Information, SOC Program Intellectual Property Rights, Elastomers
Program Technical Information, and Elastomers Program Intellectual Property Rights are and shall be the exclusive property of Elastomers and/or SOC (as has been or may be agreed between them) and/or their respective designee(s) or assignee(s).

  

 6 

	6.2	With the exception of rights which may be granted to Infineum by operation of Clause 7.3 and/or Clause 7.4, this Agreement does not grant Infineum any right to receive or access or
use SOC Program Technical Information or Elastomers Program Technical Information or to practice under SOC Program Intellectual Property Rights or Elastomers Program Intellectual Property Rights. 

  
 Clause 7 – Payments; Refunds; Supplemental Rights 
  

	7.1	On or before July l, 2000, Infineum shall pay to Shell Oil Company the amount of [***]  [Confidential Treatment Required] in consideration of the rights Infineum receives
hereunder in connection with the SOC Program and the Elastomers Program performed in the 1999 calendar year. Infineum shall not be obligated to make any separate or additional payment to Elastomers in connection with the Elastomers Program for the
1999 calendar year. 

  

	7.2	In addition to the payment specified in Clause 7.1, on or before July 1 of the year 2000 and on or before January 15 of each subsequent calendar year in which this Agreement remains
in effect, Infineum shall make payments to Elastomers, each in the amount of [***]  [Confidential Treatment Required], in consideration of the rights Infineum receives hereunder in connection with the Elastomers Program performed during the
calendar year in question. 

  

	7.3	Beginning with the calendar year 2000, in the event that Annual Program Cost for any calendar year during the term of this Agreement is not at least [***]  [Confidential
Treatment Required], Elastomers shall, on or before March 1 of the next subsequent calendar year, either: 

  

	 	(a)	give written notice to Infineum of Elastomers’s intent to refund to Infineum one half of the difference between[***]  [Confidential Treatment Required] and the Annual
Program Cost for the year in question, and thereafter promptly make such refund in a form and manner to be agreed by the parties, or 

  

	 	(b)	give notice to Infineum and offer in writing to promptly (i) make available to Infineum in reasonable detail and upon Infineum’s written request such Diene Polymer Process
Technology as is at that time reasonably required by Infineum for its own current internal research and development purposes, upon Infineum’s acceptance of appropriate obligations of confidentiality; and (ii) grant Infineum an irrevocable,
non-exclusive, worldwide, royalty-free license (extendable by Infineum to its affiliates) to use such Diene Polymer Process Technology for research and development purposes (including pilot plant testing). 

  
 Any offer made to Infineum pursuant to Clause 7.3(b) shall remain open
through the end of the calendar year in which it is made. Upon Infineum’s request and at Infineum’s cost, Elastomers is in principle, but subject to the terms and conditions of the FSO Agreement, willing to apply in the operation of the
Facilities for the benefit of Infineum any process 
  

 7 

 modifications or other results from research and development activities of Infineum pursuant to its
rights under this Clause 7.3(b). 
  

	7.4	Beginning with the calendar year 2000, in the event that Annual Program Cost for each of any three consecutive years during the term of this Agreement is not at least [***] 
[Confidential Treatment Required], Elastomers shall, on or before March 1 of the next subsequent calendar year, if this Agreement then remains in effect, give notice to Infineum and offer in writing to promptly 

  

	 	(a)	make available to Infineum in reasonable detail and upon Infineum’s written request such Diene Polymer Process Technology as is at that time reasonably required by Infineum for
its own current internal research and development purposes, upon Infineum’s acceptance of appropriate obligations of confidentiality; and 

  

	 	(b)	grant Infineum an irrevocable, non-exclusive, worldwide, royalty-free license (extendable by Infineum to its affiliates) to use such Diene Polymer Process Technology for research
and development purposes (including pilot plant testing). Any offer made to Infineum pursuant to Clause 7.4 shall remain open through the end of the calendar year in which it is made. Upon Infineum’s request and at Infineum’s cost,
Elastomers is in principle, but subject to the terms and conditions of the FSO Agreement, willing to apply in the operation of the Facilities for the benefit of Infineum any process modifications or other results from research and development
activities of Infineum pursuant to its rights under this Clause 7.4. 

  

	7.5	NEITHER SOC NOR ELASTOMERS MAKES ANY REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, AS TO THE ACCURACY OR UTILITY OF TECHNOLOGY OR OTHER INFORMATION PROVIDED TO INFINEUM HEREUNDER
OR AS TO FREEDOM FROM INFRINGEMENT OF ANY PATENTS AND/OR COPYRIGHTS OF OTHERS BY THE USE OF THE SAME. ALL WARRANTIES, EXPRESS OR IMPLIED INCLUDING BUT NOT LIMITED TO THE IMPLIED WARRANTIES OF MERCHANTABILITY, USAGE OF TRADE AND FITNESS FOR A
PARTICULAR USE ARE EXPRESSLY EXCLUDED. ALL RISK INCIDENT TO, AND ALL LIABILITIES ARISING FROM, USE OF SUCH TECHNOLOGY OR OTHER INFORMATION BY OR FOR INFINEUM, ITS AFFILIATES OR ITS CONTRACTORS OR THEIR RESPECTIVE EMPLOYEES, OFFICERS, AGENTS AND
REPRESENTATIVES SHALL BE BORNE BY INFINEUM AND INFINEUM SHALL DEFEND, INDEMNIFY AND HOLD SOC, ELASTOMERS, THEIR RESPECTIVE AFFILIATES AND CONTRACTORS, AND ALL RESPECTIVE EMPLOYEES, OFFICERS, AGENTS AND REPRESENTATIVES THEREOF HARMLESS FROM AND
AGAINST ANY CLAIMS ARISING THEREFROM OR FROM THE BREACH OF THIS AGREEMENT BY INFINEUM OR ITS AFFILIATES OR ANY OF THEIR RESPECTIVE CONTRACTORS, CONSULTANTS OR AGENTS. 

  

 8 

 Clause 8 – Addresses of the Parties 
  

	8.1	All notices and other communications required or permitted to be given under this Agreement shall be in writing and shall be deemed to be duly given when actually received.

  

	8.2	Payments, notices and other communications shall be delivered personally or by overnight courier, or certified or registered mail, to the addresses given below, or to such other
address for a given party as shall have been designated by that party in a written notice to the other party(ies) complying with the terms hereof. 

  
 For Infineum USA L.P. 
 Infineum USA L.P. 
 1900 East Linden Avenue 
 Linden, New Jersey 07036 
  
 For
Shell Oil Company: 
 Shell Chemical Company 
 P.O. Box 2463 
 910 Louisiana St. 
 Houston, Texas 77252-2463 
  
 For Shell Elastomers LLC 
 Shell Elastomers
LLC 
 910 Louisiana St. 
 Houston, Texas 77002 
  
 Clause 9 – General Provisions

  

	9.1	Assignability. Elastomers and Infineum shall each have the right to assign this Agreement to a permitted successor to that party under the FSO Agreement, who has accepted and agreed
in writing to be fully and unconditionally bound by the obligations of the assigning party under this Agreement. Neither Elastomers nor Infineum shall otherwise assign this Agreement without the prior written consent of the other, which consent
shall not be unreasonably withheld. Any attempted assignment not in accordance with this Clause 9.1 shall be void and of no effect. 

  

	9.2	Entirety. This Agreement constitutes the entire agreement between the parties relating to the subject matter hereof. This Agreement is not intended to merge, supercede or amend any
existing written agreement between the parties. 

  

	9.3	Amendment. Any amendment or modification hereof shall be ineffective unless in writing and signed by both parties. 

  

 9 

	9.4	This agreement is not intended to constitute a partnership for tax purposes. In the event that it is so construed, however, the parties agree to be excluded from the provisions of
Subchapter K of the United States Internal Revenue Code of 1986, as amended. 

  

	9.5	Dispute Resolution. Any dispute arising out of or in connection with this Agreement shall be resolved in accordance with the Dispute Resolution, provisions of the FSO Agreement,
which are incorporated herein. EACH PARTY EXPRESSLY WAIVES AND AGREES NOT TO SEEK LOST PROFITS, INDIRECT, CONSEQUENTIAL, PUNITIVE OR EXEMPLARY DAMAGES OF ANY KIND WITH RESPECT TO ANY DISPUTE ARISING UNDER, RELATED TO, OR IN CONNECTION WITH THIS
AGREEMENT OR BREACH HEREOF. 

  

	9.6	Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware. 

  
 In Witness Whereof, the parties have caused this Agreement to be executed by their duly
authorized representatives. 
  

			
	 SHELL CHEMICAL COMPANY,

	 Acting for itself and as agent for Shell Oil Company

		
	By	 	 /s/ Illegible

	 Title
	 	 Vice President - Technology

  

			
	 SHELL ELASTOMERS LLC

		
	By	 	 /s/ A.Y. Noojin III

	 Title
	 	 CEO

  

			
	 INFINEUM USA L.P.

		
	By	 	 /s/ James A. Johnson

	 Title
	 	 President

  

 10

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