Document:

INTERCORPORATE SERVICES AGREEMENT

     This INTERCORPORATE  SERVICES AGREEMENT (the "Agreement"),  effective as of
January 1, 2002,  amends and  supersedes  that certain  Intercorporate  Services
Agreement effective as of January 1, 2001 by and between CONTRAN CORPORATION,  a
Delaware  corporation  ("Contran"),  and VALHI,  INC.,  a  Delaware  corporation
("Recipient").

                                    Recitals

     A. Without  direct  compensation  from  Recipient,  employees and agents of
Contran  and  affiliates  of  Contran  perform  (i)  management,  financial  and
administrative  functions  for  Recipient  and (ii) pilot  services and aircraft
management  functions  with  respect  to  certain  aircraft  owned or  leased by
Recipient.

     B. Recipient does not separately  maintain the full internal  capability to
perform all necessary  management,  financial and administrative  functions that
Recipient requires.

     C. The cost of maintaining the additional  personnel by Recipient necessary
to perform the functions provided for by this Agreement would exceed the fee set
forth in Section 3 of this  Agreement,  and the terms of this  Agreement  are no
less favorable to Recipient than could  otherwise be obtained from a third party
for comparable services.

     D. Recipient desires to continue  receiving the services presently provided
by Contran  and  affiliates  of Contran  and  Contran is willing to  continue to
provide such services under the terms of this Agreement.

                                    Agreement

     For  and in  consideration  of the  mutual  premises,  representations  and
covenants herein contained, the parties hereto mutually agree as follows:

     Section 1.  Services to be Provided.  Contran  agrees to make  available to
Recipient,  upon request, the following services (the "Services") to be rendered
by the internal staff of Contran and affiliates of Contran:

          (a) Consultation and assistance in the development and  implementation
     of Recipient's corporate business strategies, plans and objectives;

          (b) Consultation and assistance in management and conduct of corporate
     affairs and corporate governance  consistent with the charter and bylaws of
     Recipient;

          (c)  Consultation  and assistance in maintenance of financial  records
     and  controls,  including  preparation  and  review of  periodic  financial
     statements and reports to be filed with public and regulatory  entities and
     those  required to be prepared for  financial  institutions  or pursuant to
     indentures and credit agreements;

          (d)  Consultation  and assistance in cash  management and in arranging
     financing necessary to implement the business plans of Recipient;

          (e) Consultation and assistance in tax management and  administration,
     including,  without limitation,  preparation and filing of tax returns, tax
     reporting, examinations by government authorities and tax planning;

          (f) Consultation and assistance with respect to employee benefit plans
     and incentive compensation arrangements;

          (g) Pilot services and aircraft  management  functions with respect to
     aircraft owned or leased by Recipient;

          (h) Certain  administration  and  management  services with respect to
     Recipient's  insurance  and  risk  management  needs,  including,   without
     limitations, administration of Recipient's:

               (i) property and casualty insurance program,

               (ii) claims management program,

               (iii) property loss control program, and

          (i) Such other  services as may be requested by Recipient from time to
     time.

     This Agreement  does not apply to, and the Services  provided for herein do
not include, any services that Harold C. Simmons,  Glenn R. Simmons or Steven L.
Watson may provide to Recipient in their roles as members of  Recipient's  board
of directors or any other activity related to such board of directors.

     Section 2. Miscellaneous  Services.  It is the intent of the parties hereto
that Contran provide only the Services requested by Recipient in connection with
routine  functions  related to the ongoing  operations of Recipient and not with
respect to special projects,  including corporate investments,  acquisitions and
divestitures.  The parties  hereto  contemplate  that the  Services  rendered in
connection with the conduct of Recipient's  business will be on a scale compared
to that existing on the effective date of this Agreement,  adjusted for internal
corporate  growth or contraction,  but not for major  corporate  acquisitions or
divestitures,  and  that  adjustments  may be  required  to the  terms  of  this
Agreement in the event of such major  corporate  acquisitions,  divestitures  or
special  projects.  Recipient will continue to bear all other costs required for
outside  services  including,  but not  limited  to,  the  outside  services  of
attorneys, auditors, trustees, consultants,  transfer agents and registrars, and
it is expressly understood that Contran assumes no liability for any expenses or
services  other than those  stated in Section 1. In  addition to the fee paid to
Contran by  Recipient  for the  Services  provided  pursuant to this  Agreement,
Recipient  will pay to Contran  the amount of  out-of-pocket  costs  incurred by
Contran in rendering such Services.

     Section 3. Fee for Services.  Recipient agrees to pay to Contran $1,044,750
quarterly on the first business day of each quarter, commencing as of January 1,
2002, pursuant to this Agreement.

     Section 4. Original  Term.  Subject to the  provisions of Section 5 hereof,
the original  term of this  Agreement  shall be from January 1, 2002 to December
31, 2002.

     Section  5.   Extensions.   This   Agreement   shall  be   extended   on  a
quarter-to-quarter  basis  after the  expiration  of its  original  term  unless
written  notification  is given by  Contran  or  Recipient  thirty  (30) days in
advance of the first day of each  successive  quarter or unless it is superseded
by a subsequent written agreement of the parties hereto.

     Section 6.  Limitation of Liability.  In providing its Services  hereunder,
Contran  shall  have a duty  to act,  and to  cause  its  agents  to  act,  in a
reasonably  prudent  manner,  but  neither  Contran nor any  officer,  director,
employee or agent of Contran or its affiliates  shall be liable to Recipient for
any error of judgment or mistake of law or for any loss incurred by Recipient in
connection  with the  matter  to which  this  Agreement  relates,  except a loss
resulting from willful misfeasance, bad faith or gross negligence on the part of
Contran.

     Section  7.  Indemnification  of  Contran  by  Recipient.  Recipient  shall
indemnify  and hold  harmless  Contran,  its  affiliates  and  their  respective
officers,  directors  and  employees  from  and  against  any  and  all  losses,
liabilities,  claims, damages, costs and expenses (including attorneys' fees and
other  expenses of  litigation)  to which  Contran or any such person may become
subject  arising  out of the  Services  provided  by  Contran  to the  Recipient
hereunder, provided that such indemnity shall not protect any person against any
liability to which such person  would  otherwise be subject by reason of willful
misfeasance, bad faith or gross negligence on the part of such person.

     Section 8. Confidentiality. Except as otherwise required by applicable law,
each of the parties agrees that it will maintain in confidence all  confidential
information  regarding  the  other  party  supplied  to it in the  course of the
performance of this Agreement.

     Section 9.  Further  Assurances.  Each of the parties  will make,  execute,
acknowledge and deliver such other instruments and documents,  and take all such
other actions,  as the other party may reasonably  request and as may reasonably
be required in order to effectuate  the purposes of this  Agreement and to carry
out the terms hereof.

     Section 10. Notices.  All communications  hereunder shall be in writing and
shall be addressed,  if intended for Contran,  to Three Lincoln Centre, 5430 LBJ
Freeway, Suite 1700, Dallas, Texas 75240,  Attention:  Chairman of the Board, or
such other  address as it shall have  furnished to Recipient in writing,  and if
intended for Recipient,  to Three Lincoln Centre, 5430 LBJ Freeway,  Suite 1700,
Dallas, Texas 75240, Attention: President or such other address as it shall have
furnished to Contran in writing.

     Section 11. Amendment and Modification. Neither this Agreement nor any term
hereof may be changed, waived,  discharged or terminated other than by agreement
in writing signed by the parties hereto.

     Section 12. Successor and Assigns. This Agreement shall be binding upon and
inure to the benefit of Contran and  Recipient and their  respective  successors
and  assigns,  except  that  neither  party may  assign  its  rights  under this
Agreement without the prior written consent of the other party.

     Section  13.  Governing  Law.  This  Agreement  shall be  governed  by, and
construed and interpreted in accordance with, the laws of the state of Texas.

     IN WITNESS  WHEREOF,  the parties  hereto have caused this  Agreement to be
duly executed and delivered as of the date first above written.

                                    CONTRAN CORPORATION

                                    By:
                                       ------------------------------------
                                       Steven L. Watson, President

                                   VALHI, INC.

                                   By:
                                      -------------------------------------
                                      Bobby D. O'Brien, Vice PresidentEXHIBIT 10.4
                               REVOLVING LOAN NOTE

$15,000,000                                                   October 22, 2002

      FOR VALUE  RECEIVED,  the  undersigned,  Tremont  Corporation,  a Delaware
corporation  ("Maker"),  promises  to pay, on or before  December  31, 2004 (the
"Maturity Date"), to the order of NL Industries,  Inc., a New Jersey corporation
("Payee") or any subsequent  holder,  at its offices at 16825 Northchase  Drive,
Suite  1200,  Houston TX 77060,  or such  other  place  designated  by holder in
writing,  the principal  sum of FIFTEEN  MILLION  ($15,000,000),  or such lesser
amount as shall equal the aggregate principal amount of all revolving loans made
to Maker by Payee hereunder (the "Revolving Loans"), together with interest from
the date hereof on the unpaid  balance of this Note as it may exist from time to
time at the rate (herein called the "Applicable Rate") of prime plus two percent
per annum, determined at the beginning of each calendar quarter, and in no event
shall the  Applicable  Rate exceed the maximum  interest  rate  permitted  to be
charged  from time to time under  applicable  law  (herein  called the  "Maximum
Rate").  Accrued interest on the unpaid principal of this Note shall be computed
on the basis of a 360-day  year  applied  to the  actual  number of days in each
calendar  month and shall be payable on the last  business day of each  calendar
quarter.  The Applicable Rate shall be determined based upon the published prime
rate.  Notwithstanding the foregoing, if at any time the Applicable Rate exceeds
the Maximum Rate, the rate of interest  payable under this Note shall be limited
to the Maximum Rate as provided above.

      Subject to the terms and  conditions  set forth in this Note,  Payee shall
make Revolving Loans to Maker at any time and from time to time from the date of
this Note until the  Maturity  Date,  in an  aggregate  principal  amount not to
exceed at any one time the Maximum  Revolving  Loan Amount (as defined below) at
such time. Revolving Loans made under this Note shall be in an integral multiple
of  $200,000  and shall be wired by Payee to the account of Maker  requested  by
Maker prior to 3:00 p.m.,  New York time, on the date  proposed by Maker.  Maker
shall give Payee irrevocable  written notice of all proposed Revolving Loans not
later than three  business  days prior to the proposed  borrowing (a  "Borrowing
Notice").  Such Borrowing Notice shall specify the aggregate principal amount of
the  Revolving  Loan that Maker is  requesting  Payee to make and the  requested
effective  date of the  proposed  Revolving  Loan,  and  shall  contain  Maker's
certification that no default exists, no default would,  solely with the passage
of time,  exist and that no  default  would  exist  after  giving  effect to the
requested  Revolving  Loan.  Each  Revolving  Loan  shall bear  interest  on the
outstanding  principal balance thereof from the date such Revolving Loan is made
at the Applicable  Rate. The "Maximum  Revolving Loan Amount" shall mean Fifteen
Million  Dollars  ($15,000,000),  subject to  reduction in  accordance  with the
provisions of this Note.

      Maker shall pay Payee on the last  business day of each  calendar  quarter
beginning  on December 31, 2002 and  simultaneously  with the payment in full of
this Note, in immediately  available funds, a revolving loan commitment fee (the
"Fee") equal to 1/2 of 1% per annum on the average unused amount of the Maximum

                                   Page 1 of 1

<PAGE>

      Revolving  Loan  Amount  during  such  quarter  (or,  if the Fee is  being
calculated  for a period  other than a quarter,  during such  period).  Such Fee
shall be computed on the basis of the actual  number of days elapsed over a year
of 360  days.  Such Fee  shall  commence  on the date of this  Note and cease to
accrue on the termination of Payee's commitment to make Revolving Loans.

      Maker shall have the right at any time,  in its sole  discretion  and upon
not less than 10 days written notice to Payee, to further  permanently reduce or
terminate  the Maximum  Revolving  Loan  Amount,  provided,  however,  that each
partial  reduction  thereof  shall be in an integral  multiple of $250,000.  Any
reduction of the Maximum  Revolving  Loan Amount shall be accompanied by payment
in full of any  principal  over the Maximum  Revolving  Loan Amount plus accrued
interest and accrued Fee computed as provided in the previous paragraph.

      The principal  balance of this Note may be prepaid and discharged in whole
or in part by Maker at any time and from time to time, without premium,  penalty
or fee.  Notwithstanding  the prior  sentence,  all interest that is accrued and
unpaid  with  respect to the  prepaid  principal  amount and the Fee accrued and
unpaid with respect to the unpaid Maximum Revolving Loan Amount shall be paid at
the time of the prepayment.

      The Maker,  signers,  sureties,  guarantors  and  endorsers  of this Note,
jointly and  severally,  except as otherwise  expressly set forth herein,  waive
demand, presentment,  notice of nonpayment or dishonor, diligence in collecting,
grace,  notice of any protest,  and consent to all extensions for any periods of
time and partial payments, before or after maturity.

      If this  Note is not paid at  maturity,  howsoever  such  maturity  may be
brought  about,  and  the  same  is  placed  in the  hands  of an  attorney  for
collection, or if this Note is collected by suit or through bankruptcy,  probate
or other legal  proceedings,  Maker agrees to pay holder's  costs of collection,
when incurred, including reasonable attorney's fees.

      No delay in the  payments  to  holder or in the  exercise  of any power or
right  under this  Note,  or under any  instrument  securing  payment  hereof or
executed in connection herewith,  shall operate as a waiver thereof, nor shall a
single or  partial  exercise  of any power or right  preclude  other or  further
exercise thereof or exercise of any other power or right.

      Payment  of the  indebtedness  evidenced  by this Note is  secured  by the
security  interests  established by a Security Agreement dated as of the date of
this Note executed by the Maker and Payee covering  certain  securities owned by
Maker (the "Security Documents").

      If at any  time  the  Payee  shall  notify  the  Maker  that a  Collateral
Deficiency (as hereinafter  defined) exits, then within 5 days of its receipt of
such notice, the Maker shall, at its option, do one of the following:

        (a) prepay principal amounts  outstanding under this Note, together with
            accrued and unpaid interest on such principal  amount to the date of
            prepayment,   so  that  immediately  following  such  prepayment  no
            Collateral Deficiency exists, or

                                   Page 2 of 2

<PAGE>

        (b) provide  the Payee with  additional  collateral  under the  Security
            Documents  reasonably  acceptable  to the Payee so that  immediately
            following  delivery  of such  additional  collateral  no  Collateral
            Deficiency exists.

      In the event a Collateral  Deficiency  occurs,  Payee's commitment to make
further Revolving Loans shall be terminated without notice, at the option of the
Payee, until such time as no Collateral Deficiency shall exist.

      For purposes of this Note, (a) a Collateral  Deficiency exists at any time
when the outstanding  principal amount together with accrued and unpaid interest
on the Note and the Fee  exceeds 20% of the  Collateral  Value,  (b)  Collateral
Value shall mean the Current  Market Value of all  securities  pledged under the
Security  Documents,  and (c)  Current  Market  Value shall mean the most recent
closing price of any security  pledged  under the Security  Documents on the New
York Stock Exchange or any other nationally  recognized  securities exchange, or
if such security is not listed on a national  securities  exchange,  the closing
price of such  security as reported on the National  Association  of  Securities
Dealers Automated Quotation System ("NASDAQ"), or, if applicable, the average of
the closing bid and ask quotation for such security as reported on the NASDAQ.

      The term default shall include any or all of the following:

            (a) The assignment,  voluntary or involuntary conveyance of legal or
      beneficial interest,  mortgage,  pledge or grant of a security interest in
      any of the Collateral (as defined in the Security Documents); or

            (b) The  filing or  issuance  of a notice of any lien,  warrant  for
      distraint or notice of levy for taxes or assessment against the Collateral
      (except  for those which are being  contested  in good faith and for which
      adequate reserves have been created); or

            (c) Maker's nonpayment of any installment of principal,  interest or
      the Fee under this Note; or

            (d) The  adjudication  of Maker as  bankrupt,  or the  taking of any
      voluntary action by Maker or any involuntary  action against Maker seeking
      an  adjudication  of Maker as  bankrupt,  or seeking  relief by or against
      Maker under any provision of the Bankruptcy  Code, or seeking  liquidation
      or dissolution of Maker;

            (e) Maker failing to comply with any other  covenant in this Note or
      in the Security Documents;

            (f)  Maker's  default  in any  payment  (regardless  of  amount)  of
      principal of or interest on any other indebtedness for borrowed money; or

            (g) Maker's  default in the  observance or  performance of any other
      agreement or condition relating to any such other indebtedness for

                                   Page 3 of 3

<PAGE>

      borrowed  money or contained  in any  instrument  evidencing,  securing or
      relating  thereto or any other event shall occur or condition  exist,  the
      effect of which  default or other event or  condition  is to cause,  or to
      permit the holder of the  indebtedness to cause,  such other  indebtedness
      for borrowed money to become due prior to its stated maturity.

      An "Event of Default"  shall be deemed to have occurred  immediately  upon
any default  described in clause (d) or (g) above,  if any default  described in
clauses  (c) or (f)  above  is not  cured  within  5  days,  and if any  default
described in clauses (a),  (b), or (e) is not cured within 30 days after written
notice from Payee to Maker.

      If an  Event  of  Default  has  occurred  and is  continuing,  the  entire
principal balance and accrued interest owing hereof shall at once become due and
payable and  Payee's  commitment  to make  Revolving  Loans shall be  terminated
without  notice,  at the option of the Payee,  and the  property  covered by the
Security  Documents shall be subject to foreclosure under the Security Documents
and  applicable  law.  Failure to exercise  this option  shall not  constitute a
waiver of the right to  exercise  the same  subsequently  or in the event of any
subsequent default. If any payment, including interest or principal, required to
be made under this Note is not made when due,  interest on the overdue sum shall
accrue at a rate of prime plus four percent.

      The  proceeds  of this Note shall be used (i) first,  to repay all amounts
owed by Maker to NL  Environmental  Management  Services,  Inc.  pursuant to the
Revolving Loan Note of Maker dated as of February 9, 2001, and (ii) second,  for
working capital or other purposes, as determined by Maker.

      So long as the Note shall remain  unpaid,  the Maker shall  furnish to the
Payee:

        (a) as soon as  available  and in any event not later than 45 days after
            the end of each of the first  three  quarters of each fiscal year of
            the Maker, the consolidated balance sheet of the Maker as of the end
            of such  quarter  and the  consolidated  statements  of  income  and
            retained  earnings  and  cash  flows  of the  Maker  for the  period
            commencing  at the end of the previous  year and ending with the end
            of such quarter,  all in reasonable  detail and duly  certified with
            respect  to  such  consolidated   statements  (subject  to  year-end
            adjustments)  by an officer of the Maker as having been  prepared in
            accordance with generally accepted accounting principles;

        (b) as soon as  available  and in any event not later than 90 days after
            the end of each fiscal year of the Maker, a copy of the annual audit
            report for such year for the Maker,  including therein  consolidated
            balance  sheets of the Maker as of the end of such  fiscal  year and
            consolidated  statements of income and retained earnings and of cash
            flows of the Maker for such fiscal year,  in each case  certified by
            PricewaterhouseCoopers  LLP or other  independent  certified  public
            accountants of recognized standing reasonably acceptable to Payee.

                                   Page 4 of 4

<PAGE>

      This Note shall be construed in accordance with the laws of the State of
New Jersey and the laws of the United States applicable to transactions in New
Jersey.

                                   Page 5 of 5

<PAGE>

      IN WITNESS WHEREOF, the undersigned Maker has executed this Note as of the
22 day of October, 2002.

                                       Tremont Corporation

                                       By: /s/ Mark A. Wallace
                                           -----------------------------------

                                       Its: Vice President
                                            ----------------------------------

Acknowledged and agreed to by the undersigned:

NL Industries, Inc.

By: /s/ Robert D. Hardy
    -----------------------------------

Its: Vice President
     ----------------------------------

58135
                                   Page 6 of 6

<PAGE>

SCHEDULE OF REVOLVING LOANS

Type of Transaction
(Loan or Payment)                Date                  Amount
-------------------              ----                  ------

                                   Page 7 of 7

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