Document:

June 30, 2003

June 22, 2004

Peter Barna

     This letter is intended to set forth the agreement ("Agreement") regarding your

retirement from employment with Crompton Corporation ("Crompton") (Crompton,

together with all of its affiliates, shall herein be referred to as the "Company") effective

August 1, 2004 (the "Retirement Date").  

1.Consideration.  In consideration of your agreement to and your continued

compliance with each of the terms set forth in this Agreement, including the release set

forth in Section 4, the Company shall provide to you the following benefits to which you

are not otherwise entitled:

	Stock Options.  You have been granted  130,000 options under the

Crompton Corporation the 1998 Long-Term Incentive Plan (the

"1998 LTIP") that will not have vested on the Retirement Date.  The

Company will vest those options on the Retirement Date. You may

exercise any vested stock option granted to you  under the 1998

LTIP and the 1988 Long-Term Incentive Plans (the "1988 LTIP")

until the earlier of (i) the expiration date of the option, as shown on

Attachment 1 hereto, or (ii) July 31, 2009 or until the expiration date

(10 years from grant date), which ever occurs first.  All stock

options granted to you under the 1988 or the 1998 LTIP  that are

incentive stock options shall be converted to nonqualified stock

options on the Retirement Date.  Accordingly, you will be eligible to

exercise the stock options set out in Attachment 1 hereto on and

after the Retirement Date.

	Restricted Stock.  You have been granted 55,000 shares of

restricted stock under the 1998 LTIP which will not have vested on

the Retirement Date.  The Company will vest all of those shares of

restricted stock in accordance with the vesting schedule, as set out

in Attachment 2 not later than fifteen (15) business days following

the Retirement Date.

	Management Incentive Plan.  The Company will pay you a bonus

equal to seven twelfths of the target annual bonus that you would

have earned for the year 2004 had targeted performance been

achieved as provided in your management incentive agreement,

provided, that the earnings performance of the Corporation for

2004 is sufficient to generate bonus payments under the terms and

conditions of the 2004 Management Incentive Plan.  Any such

bonus will be paid in the first quarter of 2005.

	Supplemental Retirement Agreement.  Not later than fifteen days

following the Retirement Date, the Company shall pay to you, the

actuarial equivalent of the supplemental retirement benefit as of the

normal retirement date, of Two Million Seven Hundred Twenty One

Thousand Three Hundred Forty One Dollars and 29/100

($2,721,341.29) in full satisfaction and discharge of its obligations

to you under your Supplemental Retirement Agreement, dated as

of October 21, 1999, as amended December 15, 2003.

	Automobile.  As soon as practicable after the Retirement Date,

the Company shall assign to you the Company automobile

currently used by you.  The Company shall thereafter have no

further obligation for insurance, maintenance or other expenses

associated with such Company automobile.

	Other Effects of Retirement.  Except as otherwise provided in this

Agreement, effective as of the Retirement Date, you shall be treated like any other

employee whose employment has terminated by reason of retirement.

	Termination of Participation.  Your continued participation in each

and every Company benefit plan, policy, program or practice shall

terminate on the Retirement Date in accordance with the terms of

such plan, policy, program or practice.

	Accrued Vacation Pay.   Not later than fifteen (15) days following

the Retirement Date, the Company will pay you for your accrued

and unused vacation as of August 1, 2004.

	401(k) Plan Distribution.  As soon as reasonably practicable

following the Retirement Date and in accordance with the terms of

the plan, the Company will cause the plan to distribute an amount

equal to the then current balance in your 401(k) account with the

Company to you or to your rollover IRA at your election.

	Benefit Equalization Plan Distribution.   As soon as reasonably

practicable following the Retirement Date, the Company will cause

the Benefit Equalization Plan to pay over to you in cash the

balance in your Benefit Equalization Plan Account after withholding

such amount as is required  to satisfy tax withholding requirements.

	Employee Stock Ownership Plan ("ESOP") Distribution.  As soon

as reasonably practicable following the Retirement Date, the

Company will cause the ESOP to pay over to you in cash or

securities the balance of your ESOP account with the Company.

	Medical and Dental Coverage.  Effective September 1, 2004, you

and your spouse are eligible to participate in the Supplemental

Medical and Dental Plan for Executives of Crompton Corporation in

accordance with the terms of such plan, a copy of which is

attached hereto as Attachment 3 and incorporated herein by

reference.

	Restrictions on Sale of Stock.   The Company will impose no

restrictions on your sale of shares of the Company's stock after the

Retirement Date.  You will of course remain subject to all

requirements of law with respect to the purchase and sale of

securities.

	Tax Withholding.  All amounts paid by the Company (including

amounts paid under the 1998 LTIP) under this Agreement will be

subject to the applicable tax and social security withholding and

reporting.

	Return of Company Property.  By signing below, you represent that you

will return to the Company, on or before the Retirement Date, all Company property

including, without limitation, credit cards, identification badges, parking tags and keys to

any Company facilities, and any reports, files, memoranda, records and software,

computer access codes or disks, instructional manuals, and any other physical

or personal property that you received in connection with your employment with the

Company that you have in your possession, and that you have not retained any copies,

duplicates, reproductions or excerpts thereof; provided, that you may retain your laptop

computer and the office equipment located in your home office.

	Release and Other Promises.  The intent of this section is to secure your

promise not to sue the Company, or anyone connected with it for any Claims 

(as hereinafter defined) you may have against the Released Parties (as hereinafter

defined)  in connection with your employment or separation from employment, in return

for the benefits described in this Agreement.  Accordingly, in exchange for the benefits

described in Section 1 above ("Consideration"), you hereby agree as follows:

	Release. Except as otherwise provided in this Section 4(a), you

hereby release the Company and all of its past, present and/or future

divisions, affiliates and subsidiaries, and its and their officers, directors,

stockholders, trustees, employees, agents, representatives,

administrators, attorneys, insurers, employee benefit plans, fiduciaries,

predecessors, successors and assigns, in their individual and/or

representative capacities (hereinafter collectively referred to as the

"Released Parties"), from any and all causes of action, suits, agreements,

promises, damages, disputes, controversies, contentions, differences,

judgments, claims and demands of any kind whatsoever ("Claims") which

you or your heirs, executors, administrators, successors and assigns ever

had, now have or may have against the Released Parties, whether legal

or equitable, whether known or unknown to you, and whether asserted or

unasserted, (i) arising out of, in connection with, or otherwise by reason of

your employment and/or cessation of employment with the Company, including without limitation claims under the SERA Agreement or any

other agreement with the Company, or (ii) otherwise involving facts which

occurred on or prior to the date that you sign this Agreement. 

Such released Claims include, without limitation, any and all Claims under

Title VII of the Civil Rights Act of 1964, the Civil Rights Act of 1871, the

Civil Rights Act of 1991, the Fair Labor Standards Act, the Family and

Medical Leave Act of 1993, the Americans With Disabilities Act, the Employee Retirement Income Security Act of 1974 (including, without

limitation, any claim for severance pay), the Connecticut Fair Employment

Practices Act, and any and all other federal, state or local laws, statutes,

rules and regulations pertaining to employment (each as amended); any

and all Claims under state contract or tort law; any and all Claims based

on the design or administration of any Company employee benefit plan or

program or arising under any Company policy, procedure, or employee

benefit plan; any and all Claims for wages, commissions, bonuses,

continued employment with the Company in any position, and

compensatory, punitive or liquidated damages; and any and all Claims for

attorneys' fees and costs.  Notwithstanding the foregoing, nothing

contained herein shall interfere with or waive your right to enforce this

Agreement in a court of competent jurisdiction, and nothing herein shall

prevent you from challenging the validity of the release under the Older

Workers' Benefits Protection Act contained in Section 4(c);.

	Remedy for Breach of Promises.  To the extent this provision is not

prohibited by applicable law, if you commence, continue, join in, or in any

other manner attempt to assert any Claim released herein against the Released Parties (exclusive of Claims described in Section 4(c) below), or

otherwise breach the promises made in this Agreement, you shall

reimburse the Released Parties for all attorneys' fees incurred by the Released Parties in defending against such a Claim and the Company

shall have a right to the return of all Consideration paid to you pursuant to

this Agreement (exclusive of that portion of the Consideration described in

Section 4(c) below), together with interest thereon from the date the same

was paid to you, and to cease furnishing to you any further Consideration

described in this Agreement (exclusive of that portion of the Consideration

described in Section 4(c) below); provided that this right of return of such

Consideration and the cessation of payment of further Consideration is

without prejudice to the Released Parties' other rights hereunder,

including any right to obtain an agreement and release of any and all

claims against the Released Parties;

	Release of Claims Under the Age Discrimination in Employment Act of 1967, as amended.  The Claims released by you pursuant to this

Section 4 also include any and all Claims arising under the Age

Discrimination in Employment Act of 1967, as amended by the Older

Workers' Benefit Protection Act of 1990.  You acknowledge and agree

that 20% of the cash value of the Consideration described in Section 1

above has been paid to you solely in order to effect a valid waiver of your

claims under the Age Discrimination in Employment Act of 1967;

	No Lawsuits.  To the extent this provision is not prohibited by

applicable law, you hereby represent that you have not filed, and shall not

hereafter file, any claim against the Released Parties relating to your

employment and/or separation from employment with the Company, or

otherwise involving facts which occurred on or prior to the date that you

signed this Agreement, other than a Claim that the Company has failed to

provide you with the Consideration described in this Agreement;

	Continued Confidentiality Obligation.  You understand and agree

that in the course of your employment with the Company, you have

acquired confidential information and trade secrets concerning personal,

business, financial, technical and other information and material, including the Company's operations, processes, technology, contracts, future plans and methods of doing business, which are the property of the Company and which involve the Company and the Company's employees, which information you understand and agree would be extremely damaging to the Company if disclosed to a competitor or a third party.  You understand and agree that such information has been divulged to you in confidence, and you agree to forever keep such information secret and confidential, and that you shall not communicate or disclose to any third party, or use for your own account, without prior written consent of the Company, any of the aforementioned information or material, except as required by law, unless and until such information or material becomes generally available to the public through no fault of yours.  In view of the nature of your employment and the information and trade secrets which you have received during the course of your employment, you likewise agree that the Company would be irreparably harmed by any violation, or threatened violation, of the prohibited disclosure of trade secrets and that, therefore, the Company shall be entitled to an injunction prohibiting you from any violation or threatened violation of such disclosure restrictions;

	Nondisparagement.  Neither you nor the Released Parties shall make any statements, orally or in writing, regardless of whether such statements are truthful, nor take any actions, which (i) in any way could disparage the other, or which foreseeably could harm the reputation and/or goodwill of the other, or (ii) in any way, directly or indirectly, could knowingly cause or encourage or condone the making of such statements or the taking of such actions by anyone else; provided, that nothing contained in this Section 4(f) shall prevent you or the Released Parties from cooperating fully with any governmental agency or restrict you or the Released Parties in any manner in the defense of any action brought by a third party against you or the Released Parties.

	Business Activities.

	Non-Solicitation of Employees.  During the one year period commencing on the Retirement Date (the "Restricted Period"), you shall not, directly or indirectly, either on your own behalf or on behalf of any other person, firm or corporation, solicit or induce, or attempt to solicit or induce, any employee of the Company to leave the employment of the Company.

	Non-Solicitation of Customers.  During the Restricted Period, you shall not, directly or indirectly, either on your own behalf or on behalf of any other person, firm or corporation, solicit or attempt to divert away from the Company any person or business enterprise that was a customer of the Company at any time in the last twenty-four (24) months of your employment with the Company.

	Reasonableness of Restrictions.  You acknowledge that you have carefully read and considered the provisions of this Section 4 and, having done so, agree that the restrictions set forth in this Section 4 (including, but not limited to, the duration and geographic scope of the restrictions set forth in this Section 4), are fair and reasonable and are reasonably required for the protection of the interests of the Company, and do not preclude you from earning a livelihood, nor do they unreasonably impose limitations on your ability to earn a living.  You further agree that the potential harm to the Company of the non-enforcement of these restrictions outweighs any potential harm to you of their enforcement by injunction or otherwise.

	Cooperation with the Company.  You shall fully cooperate and assist the Company in any dispute in which the Company is involved and in which you may have been involved.  Such cooperation and assistance shall be provided at a time and in a manner which is mutually agreeable to you and the Company, and shall include providing information, and documents, submitting to depositions, providing testimony and general cooperation to assist the Company in defending its position with reference to any matter. You will be reimbursed for time incurred at an hourly rate equal to such rate at the time of your retirement.  You will also be reimbursed in accordance with the Company's expense reimbursement policy for any reasonable out-of-pocket expense you incur in fulfilling your obligations under this subparagraph.  In the event that the Company determines at any time and from time to time, in its sole discretion, that you have failed to meet your obligations under this Section 4(h), the Company shall provide you with written notice of such determination outlining the reasons therefore and providing you a reasonable opportunity, in light of all of the circumstances, to cure such failure.

	Non-Admission of Liability.  The Company is providing you with the Consideration described in Section 1 of this Agreement solely to ease the impact of your separation from employment with the Company.  The fact that the Company is offering this Consideration to you should not be understood as an admission that the Company has violated your rights (or the rights of anyone else) in any manner whatsoever.

	Acknowledgments.  By signing this Agreement below, you hereby acknowledge as follows:

	Sufficiency of Consideration.  The Consideration received by you and to be received by you in the future pursuant to this Agreement in exchange for the release contained in Section 4 and the other promises contained in this Agreement, are greater in value than anything else to which you would be entitled from the Company if you did not execute this Agreement, and the benefits described in this Agreement are being provided to you in place and stead of any separation benefits to which you might otherwise be entitled under any applicable policy, plan, and/or procedure of the Company or under any prior agreement between yourself and the Company;

	No Other Wages or Benefits Due.  Except as described in this Agreement, you have been paid all wages and attendant benefits due you from the Company in consideration of the services you rendered while employed by the Company, including but not limited to vacation pay, sick or disability pay, overtime pay, holiday pay, expense reimbursement, bonuses, payments due you from the Company pursuant to any agreement or other contract to which you and/or the Company was a party, and any and all monetary or other benefits that are or were due you pursuant to policies of the Company in effect prior to the Retirement Date;
	(c)Entire Agreement; Prior Agreements.  This Agreement contains the entire agreement between yourself and the Company regarding the subject matters hereto and, as such, fully supersedes any and all prior agreements or understandings between you and the Company pertaining to the subject matter addressed in this Agreement.  Specifically, for example, effective on the date you execute this Agreement, your Employment Agreement with the Company becomes null and void in all respects.  In agreeing to the terms of this Agreement, you are not relying upon any written or oral promise or representation made to you by any employee or representative of the Company, other than the promises contained herein.  This Agreement may not be amended, superseded, cancelled, or terminated other than in writing and unless the writing is signed both by you or your attorney and by the Company or its attorney or other designated representative; and

	No Duress.  You have not been forced or pressured in any manner whatsoever to sign this Agreement, and you have agreed to all of its terms voluntarily.  You have read this Agreement in its entirety and have been given at least twenty-one (21) days to consider all of its terms.  You have been advised to consult with an attorney and any other advisors of your choice prior to signing this Agreement.  You fully understand that by signing below you are giving up any right which you may have to sue or bring any other Claims against the Company, including but not limited to the right to sue or bring any other Claims against the Company under the Age Discrimination in Employment Act of 1967, as amended (the "ADEA").

	Confidentiality of this Agreement.  You shall keep this Agreement and its terms and provisions strictly confidential, except that you may disclose the terms of this Agreement, on a need to know basis, to federal, state or local authorities, legal counsel and financial advisors, provided you instruct such persons that the information you have disclosed to them is to remain confidential.

	Severability.  The provisions of this Agreement are severable and as such, if any part of this Agreement is found to be unenforceable, the remaining parts shall remain valid and enforceable; provided, however, that if you are declared entitled to litigate any Claims settled by the terms of this Agreement (exclusive of Claims described in Section 4(c) above), then you shall remit to the Company the Consideration paid to you pursuant to this Agreement (together with interest thereon) prior to and as a condition precedent to the commencement or continuation of any proceedings related to such claims.

	Notice. Any notice that may be given, or is required to be given, under this Agreement, will be in writing and will be delivered personally or sent by telecopy or by certified mail, postage prepaid, return receipt requested and addressed to the receiving party at the address listed above or such other address as may be designated by either party hereafter in writing.

	Arbitration.  Any dispute or controversy arising under or in connection with this Agreement shall be settled exclusively by arbitration, conducted before a panel of three arbitrators in the State of Connecticut, in accordance with the rules of the American Arbitration Association then in effect.  Judgment may be entered on the arbitrator's award in any court having jurisdiction; provided, however, that the Company shall be entitled to seek a restraining order or injunction in any court of competent jurisdiction to prevent any continuation of any violation of Section 4 of this Agreement and you hereby consent that such restraining order or injunction may be granted without the necessity of the Company's posting any bond.  The expenses of such arbitration shall be shared equally by you and the Company.

	Injunctive Relief.  You agree that in addition to any other remedy at law or in equity or in this Agreement, the Company shall be entitled to a temporary restraining order and both preliminary and permanent injunctions restraining you from violating any provision of Section 4 of this Agreement.

	Successors and Assigns.  This Agreement shall bind and inure to the benefit of the parties and their respective successors and assigns, legal representatives and heirs; provided, however, that you may not assign this Agreement or any of your rights or interest herein, in whole or in part, to any other person or entity without the prior written consent of the Company.

	Choice of Law.  The validity, interpretation, construction and performance of this Agreement shall be governed by the laws of the State of Connecticut, without regard to that state's choice of law provisions.

	Effective Date.  The agreements described in this Agreement shall become effective on the day you sign and deliver this Agreement to the Company, except that your agreement to waive any Claims pursuant to Section 4(c) of this Agreement shall not become effective until the 8th day following the date you sign this Agreement.  You may revoke your agreement to waive such Claims pursuant to Section 4(c) of this Agreement within seven (7) days after you sign this Agreement by delivering written notice of revocation to me.  In the event of such revocation, you shall not be entitled to receive, nor shall you receive, the Consideration set forth in Section 1 of this Agreement.

CROMPTON CORPORATION

 

                                       By:______________________

                                       Its:

Accepted and agreed as of

This _____ day of June  2004.

 

 

 

Peter Barna

 

 

 

STATE OF   _____________________)

:ss

COUNTY OF ____________________)

On this____ day of _______, 2004, before me personally came Peter Barna, to me known, and known to me to be the person described as the employee in, and who executed, the foregoing Agreement, and the employee duly acknowledged to me that he executed the same.October 31, 1996

 

 

CONSULTING AGREEMENT

 

          THIS CONSULTING AGREEMENT (the "Agreement"), is effective as of July 1,

2004, by and between CROMPTON CORPORATION, a Delaware corporation (the

"Company") and VINCENT A. CALARCO ("Consultant").

          WHEREAS, Consultant has agreed to render certain consulting services to the

Company; and

          WHEREAS, the Company has agreed to compensate Consultant for such consulting

services; 

          NOW, THEREFORE, in consideration of the mutual promises and agreements set forth

herein, and other good and valuable consideration, the receipt of which is hereby

acknowledged, the Company and Consultant hereby agree as follows:

	Consulting Period.  The term of this Agreement shall commence on July 1, 2004

(the "Effective Date"), and shall end on December 31, 2004 unless terminated earlier in

accordance with the provisions of Section 6, below (the "Consulting Period").  Notwithstanding

the foregoing, this Agreement shall automatically terminate upon Consultant's death.

	Responsibilities. During the Consulting Period, Consultant agrees to devote a

majority of his time and attention during normal business hours performing such consulting and

advisory services (the "Services") as the Board of Directors of the Company (the "Board")

reasonably requests, including, without limitation [describe services]; provided, however, that the

Board may delegate its authority pursuant to this paragraph to the Company's Chief Executive

Officer (the "CEO").

	Performance of the Services.

	Consultant shall retain sole and absolute discretion with respect to the

manner and means of performing the Services.

	Consultant shall perform the Services in accordance with all applicable

and existing laws, regulations and ordinances, as well as all Company

standards and specifications.

	Except as specifically stated in this Agreement, Consultant is neither

authorized nor empowered to act as the Company's agent for any

purpose or to enter into any contract or undertaking of any kind or to

make any promise or give any warranty or representation, with respect to

any Company products or any other matter, unless otherwise previously

agreed to with the Board or the CEO in writing.

	Consulting Fee.  As payment for the Services, the Company shall pay to

Consultant a fee (the "Fee") of $250,000, payable in equal monthly installments, in arrears, on the

last business day of each month during the Consulting Period.  No payroll or employment taxes of

any kind (including, but not limited to, FICA, FUTA, federal or state personal income taxes, state

disability insurance taxes, workers' compensation insurance and state unemployment taxes) shall

be withheld from the Fee, or any portion thereof, or paid to Consultant in respect of the Services.

The Company and Consultant agree that Consultant is fully and solely responsible for filing

appropriate tax returns, making social security contributions and any other payments to

government authorities in respect of the Services. 

	Expenses.  The Company shall reimburse Consultant for reasonable expenses

incurred by Consultant in connection with the Services, provided that such expenses are

authorized in advance, in writing, by the CEO ("Authorized Expenses").  Such Authorized

Expenses shall be reimbursed upon Consultant's compliance with the terms of and paid out in

accordance with the Company's then-existing expense reimbursement policy.

	Termination.  The Consulting Period may be terminated, (i) by the Company for

Cause, as defined below, or (ii) by Consultant on not less than 30 days written notice to the

Company.  Subject to the terms of this paragraph 6, the applicable "Termination Date" shall be the

date on which the Consulting Period is terminated by the Company or the Consultant, as the case

may be, or by mutual agreement of the Company and Consultant.

	Termination for Cause.  The Board shall notify Consultant in writing

detailing such action or inaction as determined by the Board to be the basis

for termination for Cause; provided, however, that Consultant shall be given

a period of at least 20 days to cure such action or inaction if, in the sole

discretion of the Board, such action or inaction is capable of being cured.

Upon a termination for Cause, the Company shall have no further

obligation under this Agreement other than the payment to Consultant of

any portion of the Fee accrued but unpaid in respect of Services performed

up to the Termination Date and, subject to the terms of paragraph 5, any

Authorized Expenses incurred but unreimbursed as of the Termination

Date.  "Cause" shall mean, in the good faith judgment of the Board, any act

or mission that constitutes: (i) willful misconduct by Consultant that is

materially injurious to the financial condition, business and/or reputation of

the Company or any of its subsidiaries or affiliates, (ii) a willful failure of

Consultant to perform any duties or responsibilities reasonably required by

the Board or the CEO pursuant to this Agreement, (iii) a material breach of

this Agreement, including, without limitation,  any restrictive covenants or

covenants of non-disclosure, or (iv) the commission by Consultant of fraud

or other act of dishonesty, or conviction of a felony.

	Termination Without Cause.  In the event that the Consulting Period is

terminated by the Company without Cause, the Company shall pay to

Consultant a lump sum cash payment within thirty days after the

Termination Date, an amount equal to (i) any portion of the Fee accrued

but unpaid in respect of Services performed up to the Termination Date, (ii)

subject to the terms of paragraph 5, any Authorized Expenses incurred but

unreimbursed as of the Termination Date, and (iii) provided that Consultant

executes a release and waiver of claims in accordance with the terms of

sub-paragraph 6(d), the remaining unpaid balance of the Fee equal to

$250,000, less that portion of the Fee paid to Consultant (x) prior to the

Termination Date and (y) in accordance with section (i) of this sub-

paragraph 6(b).

	Termination By Consultant.  In the event that the Consulting Period is

terminated by Consultant, the Company shall have no further obligation

under this Agreement other than the payment to Consultant of any portion

of the Fee accrued but unpaid in respect of Services performed up to the

Termination Date and, subject to the terms of paragraph 5, any Authorized

Expenses incurred but unreimbursed as of the Termination Date.

	Release and Waiver of Claims.  As part of the consideration for the

Company's payment of the Fee, Consultant agrees that upon the

termination or expiration of this Agreement and/or the Consulting Period for

any reason, including, without limitation, the expiration of the Consulting

Period by its own terms, Consultant shall execute a general release and

waiver of claims (the "Release") in favor of the Company in such form as

required by the Company.  The Release shall release the Company, its

subsidiaries and affiliates and their respective officers, directors and

employees from all claims arising under applicable federal, state or local

law (including claims arising out of the Age Discrimination in Employment

Act of 1967), whether or not relating to, resulting from or arising out of (x)

performance of the Services, (y) the terms of this Agreement, or (z) the

termination or expiration of the Consulting Period or this Agreement.

	Non-competition and Non-Solicitation.  

	Beginning on the Effective Date and continuing until the first anniversary

following the termination or expiration of the Consulting Period, other than a

termination by the Company without Cause, Consultant shall not directly or

indirectly compete with the Company or any of its subsidiaries or affiliates

(the "Company Group"), whether as an individual proprietor or entrepreneur

or as an officer, employee, partner, stockholder, or in any capacity

connected with any enterprise, in any business in which the Company

Group is engaged at the time of the termination or expiration of the

Consulting Period, within any state or possession of the United States of

America or any foreign country within which such business is then being

conducted, or within which business the Company Group has formally

announced specific plans to conduct and/or Consultant has actual

knowledge that the Company Group specifically plans to be conducted.

For the purpose of the preceding sentence, conducting business, doing

business, or engaging in business shall be deemed to embrace sales to

customers or performance of services for customers who are within a

relevant geographical area, without any necessity of any presence of the

Company Group therein.  Nothing herein, however, shall prohibit

Consultant from acquiring or holding any issue of stock or securities of any

corporation which has any securities listed on a national securities

exchange or quoted in the daily listing of over-the-counter market

securities, provided that at any one time he and members of his immediate

family do not own more than five (5%) percent of the voting securities of

any such corporation.

	Beginning on the Effective Date and continuing until the first anniversary

following the termination or expiration of the Consulting Period, Consultant

will not without the prior written consent of the Company, directly or

indirectly, whether on his own, in association with or on behalf of any other

person, firm, corporation or other business organization, whether as an

individual proprietor or entrepreneur or as an officer, employee, officer,

director, partner, consultant, agent, stockholder or in any other capacity, (i)

solicit, hire, have contact with or endeavor to entice away from the

Company Group any person or entity who is, or during the then most

recent 12-month period was employed by or had served as an agent or key

consultant of the Company Group or any member thereof, or (ii) solicit,

hire, have contact with or endeavor to entice away from the Company

Group any person or entity who is, or during the then most recent 12-month

period was a customer or client (or to Consultant's knowledge or the

knowledge of the public was reasonable anticipated to become a customer

or client) of the Company Group or any member thereof.

	If any of the provisions of this paragraph 6 are determined to be invalid or

unenforceable to any extent, by reason of being vague or unreasonable as

to area, duration or scope of activity, that portion of this paragraph 6 shall

be considered divisible and shall immediately be reformed to only such

area, duration and scope of activity as shall be determined to be

reasonable and enforceable by the court having jurisdiction over the matter.

Consultant hereby acknowledges and agrees that any such reformation

shall be valid and binding as though any invalid or unenforceable provision

had not been included herein.

	Confidential Information.  Consultant shall hold for the benefit of the Company and

the Company Group all secret or confidential information, knowledge or data relating to the

Company or the Company Group, and their respective businesses, which shall have been

obtained by Consultant during Consultant's employment by the Company, during the Consulting

Period and/or during Consultant's performance of the Services and which shall not be public

knowledge (other than by acts of Consultant or his representatives in violation of this Agreement).

Following the termination or expiration of the Consulting Period, Consultant shall not, without the

prior written consent of the Company, communicate or divulge any such information, knowledge

or data to anyone other than the Company and those designated by it, except as required by law

or by a court of competent jurisdiction.

	Return of Company Property. Upon the termination or expiration of the Consulting

Period, Consultant shall immediately destroy personal material; return all Company Group

property and material in Consultant's possession or control (the "Company Property") unless the

Company expressly agrees in writing that Consultant may retain possession of any such property

or material.  Company Property shall include all originals and copies of files, writings, reports,

memoranda, diaries, notebooks, notes of meetings or presentations, data, computer software and

hardware, diskettes, drawings charts, photographs, slides, patents, or an other form of record

which contains information created or produced for or at the direction of any member of the

Company Group, or any employee or agent thereof.  All Company Property shall be returned

undamaged and intact.

	Injunctive Relief.  Without limiting the remedies available to the Company,

Consultant acknowledges that a breach of any of the covenants contained in paragraphs 7, 8 or 9

may result in material irreparable injury to the Company for which there is no adequate remedy at

law, that it will not be possible to measure damages for such injuries precisely and that, in the

event of such a breach or threat thereof, the Company will be entitled to obtain a temporary

restraining order or a preliminary or permanent injunction restraining Consultant from engaging in

activities prohibited by paragraphs 7, 8 or 9, as the case may be or such other relief as may be

required to specifically enforce any of the covenants in paragraphs 7, 8 or 9, as the case may be.

	Violation and Remedy.  If the Company reasonably, after due consideration,

determines that Consultant has breached or has threatened to breach any of the provisions of

paragraphs 7, 8 or 9, in addition to any other remedies available to the Company in law or equity,

the Company will be entitled to immediately suspend as of the date of such breach or prospective

breach any payments or benefits under this Agreement.

	Indemnification.  Consultant shall indemnify and hold harmless the Company

Group and each member thereof from and against any and all claims, losses, damages, costs,

expenses, liabilities and obligations (including attorney's fees and court costs) (collectively,

"Losses"), suffered or incurred by the Company Group, or any member thereof, which directly or

indirectly result from or arise out of (i) any breach of this Agreement by Consultant, or (ii) to the

extent arising out of the bad faith, willful misconduct or gross negligence of Consultant, the

provision of the Services, including, without limitation, such Losses that directly or indirectly result

from or arise out of Consultant being deemed or otherwise found to be other than an independent

contractor, and any resulting taxes due and interest and penalties thereon.

	Third-Party Beneficiaries.  The Company and Consultant acknowledge and agree

that all current or future members of the Company Group are third-party beneficiaries to the terms

of paragraphs 7, 8, 9, 10, 11 and 12 and may enforce the terms of this Agreement as they pertain

to such paragraphs to the full extent permitted by law and equity. 

	Notice.  For purposes of this Agreement, notices and all other communications

provided for in this Agreement shall be in writing and will be deemed to have been duly given

when delivered or mailed by United States registered mail or certified mail return receipt

requested, postage prepaid, if to the Company, to its offices at 199 Benson Road, Middlebury, CT

06749, attention: General Counsel and if to Consultant at 27 Forest Glen Drive, Woodbridge, CT

06525, or to such other address as either party may have furnished to the other party hereto in

writing in accordance herewith, except that notice of change of address will be effective only upon

receipt.

	Independent Contractor.  Consultant's relationship with the Company is that of an

independent contractor.  Nothing in this Agreement is to be construed as designating Consultant

an employee, agent, joint venturer, or partner of the Company or the Company Group.  This

Agreement is for contractual consulting services.  Consultant is free to pursue other work for other

clients or customers, provided such other work in no way presents a conflict of interest or is

contrary to any other provision of this Agreement. In no event shall this Agreement be construed

as creating an employer/employee relationship.  Except as set forth in this Agreement, Consultant

shall not be eligible to receive any other payment from the Company as a result of performing, or

otherwise in consideration of the Services, including, but not limited to, vacation pay, holiday pay,

health care or sick pay, or severance pay.  Consultant shall not be entitled to and shall not receive

any benefit provided to employees of the Company or the Company Group or to participate in any

Company or Company Group employee benefit plan, policy, program or practice as a result of

performing, or otherwise in consideration of the Services, including, but not limited to, any

retirement plan, health care plan or welfare benefit plan, unemployment insurance, workers'

compensation insurance, or fringe benefit plan.  To the extent Consultant otherwise would be

eligible for any Company or Company Group employee benefits as a result of performing, or

otherwise in consideration of the Services but for the express terms of this Agreement, Consultant

hereby expressly declines to participate in any Company or Company Group employee benefit

plans and waives any such employee benefits.

	Assignment.  Consultant's rights under this Agreement may not be assigned, and

Consultant's obligations under this Agreement may not be delegated, in whole or in part, by

Consultant.  The Company may assign its rights and delegate its obligations under this

Agreement.

	Miscellaneous.

	Amendments, Waivers, Etc.  Except as provided in this Agreement, no

provision of this Agreement may be modified, waived or discharged

unless such waiver, modification or discharge is agreed to in writing by

the Company and the Consultant. No waiver by either party hereto at any

time of any breach by the other party hereto of, or of compliance with,

any condition or provision of this Agreement to be performed by such

other party shall be deemed a waiver of similar or dissimilar provisions or

conditions at the same or at any prior or subsequent time.  No

agreements or representations, oral or otherwise, express or implied, with

respect to the subject matter hereof have been made by any party which

are not expressly set forth in this Agreement and this Agreement shall

supersede all prior agreements, negotiations, correspondence,

undertakings and communications, oral or written, of the parties or any

subsidiary or affiliate, or any respective predecessor thereof, with respect

to the subject matter hereof.

	Validity. The invalidity or unenforceability of any provision of this

Agreement will not affect the validity or enforceability of any other

provision of this Agreement, which will remain in full force and effect.

	Counterparts. This Agreement may be executed in counterparts, each of

which will be deemed to be an original but all of which together will

constitute one and the same instrument.

	Headings. The headings contained in this Agreement are intended solely

for convenience of reference and will not affect the rights of the parties to

this Agreement.

	Governing Law.  The validity, interpretation, construction and

performance of this Agreement shall be governed by and construed in

accordance with the laws of the State of Connecticut, without reference to

principles of conflicts of laws.  The parties shall use their best efforts and

good will to settle all disputes by amicable negotiations.  Any judicial

proceeding brought against any of the parties to this Agreement or any

dispute arising out of this Agreement or any matter related hereto may be

brought in the courts of the State of Connecticut or in the United States

District Court for the State of Connecticut, and, by execution and delivery

of this Agreement, each of the parties to this Agreement accepts the

jurisdiction of said courts, and irrevocably agrees to be bound by any

judgment rendered thereby in connection with this Agreement.  

          IN WITNESS WHEREOF, the parties hereto have executed this Consulting Agreement.

 
CROMPTON CORPORATION

 

                                        By: _____________________   Its:

Accepted and agreed as of

this ___ day of _________ 2004.

 

 

     Vincent A. Calarco

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00069-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00069-of-00352.parquet"}]]