Document:

Isoprene Sales Contract

 Exhibit 10.45 
  
 CONFIDENTIAL TREAMTMENT REQUESTED 
 WITH RESPECT TO CERTAIN PORTIONS HEREOF 
 DENOTED WITH “***” 
  
 CONFIDENTIAL 
  

					
	 	 	 	 	 Control No. 4950999

	

	 	SALES CONTRACT	 	 
	 	 	Dated: Sept 11, 1999	 	 

  
 1. PARTIES. 
  

	Shell: 	SHELL CHEMICAL COMPANY, for itself and as agent for Shell Oil Company 

	    	   (“Seller”), P.O. Box 2463, Houston, TX 77252-2463, Facsimile no. 713-241-6465. 

  

	Buyer: 	SHELL ELASTOMERS LLC. (For Belpre Plant) 

  
 2. PRODUCT. 
  

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 2.1. PRODUCT QUALITY. 
  
 Isoprene, (hereinafter referred to as “Product”) supplied and maintained on consignment at Belpre in accordance with Article 6, and will be in
accordance with specifications set forth in Exhibit A. 
  
 Seller
will facsimile to the Buyer at time of shipment a Certificate of Analysis (COA). Seller will provide Buyer six (6) months advanced notification if there is a change in the manufacturing process that will affect the material specifications of Product
provided to the Buyer. Product produced by the Seller in different plants is viewed as coming from different supply sources and requires separate qualifications. Product to be shipped for the Seller from third parties must be from a third party
qualified by the Buyer based on Buyer’s criteria as specified in Exhibit B. Buyer will have the right to confirm each such shipment-conforms to the agreed specification; 
  
 Seller must obtain approval prior to shipment any material that does not meet the Buyers specifications. If Seller
deliveries Product failing to comply with the specifications set out in Exhibit A, Seller will reimburse Buyer for freight expenses associated with such shipment and be entitled at its option to i) require Seller to replace such defective Product at
a price not to exceed the invoice value or ii) to reimburse the invoice value of the defective Product. 
  
 If, Buyer has cause to complain that the quality of Product delivered to it pursuant to the Contract does not comply with the specification set out in
Exhibit A, Buyer will give written notice specifying the nature of its complaint and the parties will promptly meet so as to resolve that complaint. In absence of any agreement to resolve the complaint the parties will appoint at their joint cost a
mutually acceptable independent surveyor to examine whether the quality of Product as delivered complied with the specifications set forth in Exhibit A. In 

  

 
the absence of any written notice from Buyer to Seller within 30 days after delivery of the Product, the Product shall be deemed to have been delivered and
accepted by Buyer in a satisfactory condition and in all respects in accordance with the specifications and Seller shall have no liability to Buyer with respect to that delivery. 
  
 3. PERIOD. The period of this Sales Contract will begin on July 1, 1999 and end on December 31, 2009, but will continue thereafter,
subject to termination effective on such ending date, or at any subsequent time, by either Party giving the other at least twelve (12) months’ prior written notice at any time for any reason, provided that such termination will not take effect
before December 31, 2009. 
  
 4. PRICE AND PAYMENT TERMS. 
  

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 4.2. TAX. Any tax (other than on income), duty or other governmental charge now or hereafter imposed on the Product or on any raw material used in
manufacturing the Product (or on Seller, or required to be paid or collected by Seller, by reason of the manufacture, transportation, sale or use of such Product or raw material) will be paid by Buyer in addition to the price. 
  
 5. QUANTITY. 
  
 5.1 Scheduling and planning 
  

The volume of Product shall be agreed to annually between Seller and Buyer, by October 1 of the previous year (Agreed Volume). 
  
 5.2 Five year production estimate 
  
 Buyer shall advise Seller by October 1 of each year of its best estimate of
the annual requirements of Product in the nearest following 5 years. 
  
 5.3 Three month rolling forecast 
  
 Subject to
Clauses 5.1 and 5.2 Buyer will indicate to Seller in writing its monthly requirement on the basis of a rolling three months program. This program will be revised and updated on a monthly basis and will 

  

 
be made available to Seller latest five working days before the beginning of the first month on the three months program. Seller will take all reasonable
efforts to supply Product based on Buyer’s forecast. 
  
 5.4 Information on shutdowns 
  
 Buyer and Seller
shall inform each other at earliest opportunity, but not later than twelve months before it occurs, of any planned shutdown or maintenance program, and its duration, which may affect Seller’s capability to supply, or Buyer’s capability to
purchase Product. Buyer shall use all reasonable efforts, given its own market requirements, to purchase Product approximately evenly spread each Month throughout the Year. 
  
 5.5 Variations to Agreed volumes 
  
 In case of persistent underperformance of a party versus agreed plan, the underperforming party will immediately inform the
other party and both will seek to resolve the problem in mutual agreement minimizing the impact on both businesses. 
  

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 5.7 Logistics Planning 
  
 In July of each year Buyer and Seller will agree on the numbers of railcars needed in isoprene service for the next year. There are 99 such cars in
service at time of execution of this contract. If additional railcars are required and Seller is able to provide such additional cars, Seller will provide these railcars at their actual leasing and maintenance cost. 
  

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 6. SHIPMENTS. With Buyer’s consent, which shall not be unreasonably withheld, Seller will select the origin of shipment and the carrier. The quantity of all
bulk rail and truck shipments will be determined by Seller by outage tables with corrections for temperature or by weighmaster’s certificate as appropriate and Seller’s quantity determination will govern. Buyer will promptly unload each
shipment at its own risk and expense, including any demurrage or detention charges. 
  
 6.1. SUPPLIER MANAGED INVENTORY AGREEMENT FOR ISOPRENE, hereinafter referred to as “Consigned Product”. 
  
 A. SHIPMENTS - TITLE. Notwithstanding any provisions of this Contract to the contrary, shipments of Consigned Product will be made
by Seller on consignment into Buyer’s storage at its facilities at Belpre, Ohio and Seller’s quantity determination will govern unless proven in error. Should the quantity determination by Buyer after receipt differ by an amount greater
than one-half of one percent (0.5%) versus the quantity indicated on Seller’s bill of lading, it is Buyer’s responsibility to petition Seller for adjustment in writing within thirty (30) days of receipt. Buyer will ensure the prompt
unloading of each shipment of Consigned Product and will be responsible for any demurrage or detention charges. Seller will retain title to all Consigned Product until any of the following occurs, at which time Buyer will be deemed to have purchased
the Consigned Product involved: 
  

	 	1.	Buyer withdraws it from storage; 

  

	 	2.	the Consigned Product is lost, destroyed or damaged for any cause while in Buyer’s custody, regardless of fault, effective the date of such loss, destruction or damage; or

  

	 	3.	a period of 120 consecutive days elapses during which no withdrawals of Consigned Product are made by Buyer (in which case all remaining Consigned Product in storage at Buyer’s
location will be deemed purchased by Buyer). 

  

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 B. STORAGE REQUIREMENTS. Buyer agrees to permit physical inspection of the storage location and product handling facilities by
Seller’s representative or agents prior to the first consignment shipment. 
  
 C. FINANCING STATEMENT. Upon request by Seller, Buyer will execute and return to Seller for Seller’s filing, a Uniform
Commercial Code Financing Statement - Form UCC-1, for all Consigned Product delivered hereunder. 
  
 D. REPORTS. On the first work day of each calendar month, Seller will ascertain withdrawals of all Consigned Product during the
previous month via the Lotus Notes tool, SIMON. Buyer will pay for the amount of Consigned Product used or otherwise deemed purchased during the past calendar month as found on the “Reconciliation” screen and in the cumulative
“Calculated” column for the past calendar month. 
  
 Buyer is responsible for keeping SIMON accurate by recording complete information as to all receipts, withdrawals and handling of Consigned Product. Buyer will provide a physical inventory quantity on a monthly basis
and record in SIMON. Since SIMON data will also serve as the basis for invoice quantities (i.e., the quantity that the Buyer is obligated to pay upon), Seller will maintain the responsibility of verifying the inventory activity and will notify Buyer
of exceptions or rejection of data reported on the “Reconciliation” screen no later than the following working day, following the Month End Accounting Closing Date, defined as the last day of each calendar month. Upon prior reasonable
notice, Seller will have the right to verify SIMON data at any time during Buyer’s normal business hours by physical inspection of Buyer’s Consigned Product inventory or to require any or all of Buyer’s monthly reports to be certified
by a responsible officer of Buyer. 
  

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 F. WEBSITE ACCESS AND USE. Seller shall maintain a website (the “Website”) which will provide Buyer access to the
Internet Lotus Notes website tool SIMON. Seller hereby grants to Buyer a nonexclusive, nontransferable, and revocable license to use SIMON at the Website for Buyer’s own internal use. Buyer may make reports, data, and print any output of SIMON.
Any other rights not expressly granted to Buyer are reserved to Seller. 
  
 Access to the Website and use of the Software requires concomitant use of an Internet browser commercially available by third parties and access to the Internet. Buyer shall bear all responsibility for obtaining the
necessary rights for use and installation thereof. 
  
 SELLER
REPRESENTS AND WARRANTS ONLY THAT IT HAS THE RIGHT TO MAKE THE GRANTS SET FORTH ABOVE BUT MAKES NO REPRESENTATIONS, EXTENDS NO WARRANTIES. EITHER EXPRESS OR IMPLIED, AND ASSUMES NO RESPONSIBILITIES WHATSOEVER WITH RESPECT TO THE PERFORMANCE,
MERCHANTABILITY, OR FITNESS FOR A PARTICULAR PURPOSE OF THE WEBSITE OR SOFTWARE OR ANY INFORMATION CONTAINED THEREIN. THE SOFTWARE AND ANY ASSOCIATED SERVICES (e.g., INSTALLATION AND UPGRADING OF THE SOFTWARE) ARE PROVIDED TO BUYER HEREUNDER ON AN
“AS IS” BASIS WITHOUT ANY WARRANTIES, EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO ANY WARRANTY CONCERNING THE RESULTS OR EFFECTS OBTAINED THROUGH THE USE OF THE SOFTWARE OR THAT IT WAS FIT FOR ANY USE INTENDED, OR CAN BE USED WITHOUT
INFRINGING THE PATENT RIGHTS, COPYRIGHTS, OR OTHER INTELLECTUAL PROPERTY OF THIRD PARTIES. IN NO EVENT SHALL SELLER BE LIABLE FOR ANY DIRECT, INDIRECT, SPECIAL OR OTHER CONSEQUENTIAL DAMAGES RESULTING IN ANY WAY FROM ANY USE OF THE WEBSITE OR THE
SOFTWARE, INCLUDING, WITHOUT LIMITATION, LOSS PROFITS, BUSINESS INTERRUPTION, LOSS OF PROGRAMS OR OTHER DATA ON BUYER’S INFORMATION HANDLING SYSTEM OR OTHERWISE, EVEN IF SELLER HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGE. 

 
 Seller shall not be responsible for, and shall have no obligation to
Buyer with respect to, any claim by any other person arising, from, or attributable to, Buyer’s use of the Website or SIMON. 
  

 Seller’s cumulative liability to Buyer for any claims arising from, or in any way related to, this
Agreement, the Website or date contained thereon, or Simon or data contained therein, whether based on contract, tort, warranty, strict liability or other form of action, shall not exceed the total amount of any license fee(s) paid by Buyer to
Seller hereunder. This limitation of liability is intended to apply without regard to whether other provisions of this Agreement have been breached or have proven ineffective. Seller shall have no liability for loss of data or documentation, it
being understood that Buyer is responsible for reasonable backup precautions. 
  
 Shipments of Product hereunder will be in accordance with schedules mutually agreeable to both Parties with all reasonable efforts made to ship and receive Product at as even a rate over each year as practicable.

  
 7. WARRANTIES. Seller warrants that each Product will meet
specifications designated as such in this Contract or in Shell’s applicable publications. Shell warrants that it will comply with all applicable laws and governmental rules, regulations and orders. SHELL MAKES NO OTHER WARRANTIES, WHETHER OF
MERCHANTABILITY, FITNESS OR OTHERWISE, AND NONE WILL BE IMPLIED. 
  
 8. EXCUSES
FOR NONPERFORMANCE. Either Seller or Buyer will be excused from the obligations of this Contract to the extent that performance is delayed or prevented by any circumstance (except financial) reasonably beyond its control or by fire, explosion,
mechanical breakdown, strikes or other labor trouble, plant shutdown, unavailability of or interference with the usual means of transporting the Product or compliance with any law, regulation, order, recommendation or request of any governmental
authority. [***] [Confidential Treatment Required] 
  
 9. SAFETY AND HEALTH
COMMUNICATIONS. Seller will furnish to Buyer Material Safety Data Sheets which include health, safety and other hazard communication information on Product consistent with the Occupational Safety and Health Administration’s Hazard
Communications Standard. Seller will also furnish other health or safety information as available. Buyer will disseminate appropriate health and safety information to all persons Buyer foresees may be exposed to Product (including but not limited to
Buyer’s employees, contractors and customers). If Product is further processed, mixed or incorporated into another product, Buyer will likewise disseminate appropriate health and safety information to all persons Buyer foresees may be exposed.

  
 10. LIABILITIES - CLAIMS - INDEMNIFICATION. Buyer will indemnify Shell
against any liability (whether strict or otherwise) for any claim, loss or expense on account of any injury, disease or death of persons (including Buyer’s employees) or damage to property (including Buyer’s) arising out of: 
  

 A. Buyer’s unloading, storage, handling, sale of use or the Product (except to the extent caused by
Seller’s negligence); and/or 
  
 B. Any failure by Buyer to
disseminate safety and health information as provided in Article 9, SAFETY AND HEALTH COMMUNICATIONS; 
  
 and these indemnity obligations of Buyer will survive termination of this Contract. Shell or Buyer will not have any liability to the others for any claim (except for indebtedness of Buyer to Seller, or Buyer’s
failure to perform its purchase obligations hereunder) arising out of or in connection with this Contract unless claimant gives the other Party notice of the claim, setting forth fully the facts on which it is based, within ninety (90) days of the
date such facts were discovered or reasonably should have been discovered. Shell’s liability for defective or nonconforming Product, whether or not based on negligence, will not exceed the purchase price of the Product involved in the claim.
Seller will indemnify Buyer for any claim, loss or other expense to the extent of Seller’s negligence in the handling or manufacture of the product, except to the extent caused by Buyer’s negligence. NO PARTY WILL BE LIABLE FOR ANY
SPECIAL, INCIDENTAL, CONSEQUENTIAL OR PUNITIVE DAMAGES. 
  
 11. REMEDIES.
If Buyer fails to pay any indebtedness to Seller in accordance with the terms for such indebtedness (whether or not under this Contract), Seller may, in addition to any other remedies, suspend shipments, change terms of payment or terminate this
Contract by notice to Buyer. Buyer’s obligation to perform will not be limited by any previous waiver by Seller. In the event that Buyer breaches any term or condition of this Contract, Buyer will reimburse Shell for all costs and expenses
related to Shell’s pursuit of payment for any claim in any way arising from such breach, including but not limited to reasonable attorneys’ fees. 
  
 12. NOTICES. Notice by either Shell or Buyer will be made only by facsimile or similar electronic transmission, effective at the time sent to the number set out in
Article I, PARTIES, with confirmation, or by letter or telegram addressed to the other Party at its address in Article I and will be considered given as of the time it is sent by facsimile transmission or deposited with the U.S. Postal Service or
the telegraph company, postage or charges prepaid. 
  
 13. GOVERNING LAW.
THIS CONTRACT WILL BE INTERPRETED AND THE RIGHTS, OBLIGATIONS AND LIABILITIES OF THE PARTIES DETERMINED IN ACCORDANCE WITH THE LAWS OF THE STATE OF TEXAS. 
  
 14. ASSIGNABILITY. The Buyer shall be entitled to assign this Agreement to any Affiliate that acquires all or substantially all of
its property, without the prior written consent thereto of the Seller. Any assignment of the Agreement by the Buyer to a third party will require the consent of the Seller, such consent not to be unreasonably withheld or delayed. 
  
 Seller shall be entitled to assign this Agreement to any Affiliate or third party without the
prior written consent thereto of the Buyer. 
  
 “Affiliate” means in relation to Shell, N.V. Koninklijke Nederlandsche Petroleum Maatschappij, The “Shell” Transport and Trading Company, p.l.c. (together the “Parent Companies”) or any entity other than the
Parties which is directly or indirectly affiliated with either or both of the Parent Companies. In relation to the Buyer, “Affiliate” means any entity which is directly or indirectly affiliated with Buyer. In relation to any third party
successors of the Parties, “Affiliate” means any entity which is directly or indirectly affiliated with that Third Party successor. 
  

 For the purposes of this definition, a particular entity is: 
  

	 	(i)	directly affiliated will another entity or entities if the latter hold(s) or otherwise control(s) by proxy or agreements shares or other ownership interests carrying fifty percent
(50%) or more of the votes exercisable at a general shareholders meeting (or its equivalent) of the entity in question; and 

  

	 	(ii)	indirectly affiliated with an entity or entities (the “parent or parents”) if a series of entities can be specified, beginning with their parent or parents and ending with
the particular entity, so related that each entity or entities in the series, except the parent or parents, is directly affiliated with one or more of the entities earlier in the series; 

  
 ENTIRETY AND RELEASE 
  
 This Contract, as of the beginning date of its Period, contains the complete and exclusive agreement of Shell and Buyer
concerning the Product identified in Article 2, PRODUCT, merges and supersedes all prior understandings and representations (oral or written) and terminates all prior contracts between Shell and Buyer concerning the same product. Except for any
indebtedness or indemnity obligation of Buyer to Shell, each Party releases the other from all claims arising in connection with any such prior contract. Neither this Contract nor any agreement supplementing or amending this Contract (including any
purchase order or other document issued by Buyer) will be binding unless signed by the Parties, and performance prior to such execution will not constitute a waiver of this requirement. 
  
 EFFECTIVE ONLY if signed by Buyer and returned within thirty (30) days of the contract date, and then signed by Seller. Any
shipment of Product made during the period of this Contract, but prior to execution, will be deemed to have been made under the terms hereof. 
  

									
	SHELL ELASTOMERS LLC	 	 	 	SHELL CHEMICAL COMPANY
					
	By	 	/s/ Illegible	 	 	 	By	 	/s/ Illegible
					
	 Date
	 	Illegible	 	 	 	 Date
	 	4/13/00

  

 Exhibit A 
  

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 Exhibit B 
  

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	[***] 	[Confidential Treatment Required]Agreement for the supply of Isoprene Monomer

 Exhibit 10.46 
  
 CONFIDENTIAL TREATMENT REQUESTED 
 WITH RESPECT TO CERTAIN PORTIONS HEREOF 
 DENOTED WITH “***” 
  
 EXECUTION COPY 
  
 Dated FEBRUARY 28, 2001 
  
 AGREEMENT 
  
 BETWEEN 
  
 SHELL NEDERLAND CHEMIE B.V. 
  
 AND 
  
 KRATON POLYMERS
NEDERLAND B.V. 
  
 FOR THE SUPPLY OF ISOPRENE MONOMER

  

 (Pernis-Isoprene Monomer-Feedstock Agt.) 

 CONTENTS 
  

					
	 	  	 	  	Page

	1.	  	 Definitions and Interpretation
	  	1
			
	2.	  	 Supply and Purchase of Product
	  	5
			
	3.	  	 Quality
	  	5
			
	4.	  	 Volumes, Scheduling and Nomination, Procurement of Isoprene
	  	6
			
	7.	  	 Price
	  	11
			
	8.	  	 Invoicing and Payment
	  	13
			
	9.	  	 Term and Termination
	  	13
			
	10.	  	 General
	  	14
			
	11.	  	 Notices
	  	14
			
	12.	  	 Force Majeure
	  	14
			
	13.	  	 Liability
	  	15
			
	14.	  	 Assignment
	  	16
			
	15.	  	 Confidentiality
	  	16
			
	16.	  	 Hardship
	  	17
			
	17.	  	 Severability
	  	17
			
	18.	  	 Governing Law and Arbitration
	  	17
			
	19.	  	 Necessary Approvals
	  	18
			
	20.	  	 Counterparts
	  	18
		
	Attachment I - Isoprene Specifications	  	 
		
	Attachment II - Approved suppliers list	  	 
		
	Attachment III - Flowmeters	  	 

  

					
	 	  	i	  	(Pernis-Isoprene Monomer-Feedstock Agt.)

 Attachment IV - Estimated Volume Take-off Scheme (in kilo Tonnes) 
  
 Attachment V - Examples for Application of Clause 4.4 
  
 Attachment VI - List of Purchaser Affiliates 
  

					
	 	  	ii	  	(Pernis-Isoprene Monomer-Feedstock Agt.)

 ISOPRENE MONOMER SUPPLY AGREEMENT 
  
 THIS AGREEMENT is made February 28th 2001 between: 
  

	(1)	SHELL NEDERLAND CHEMIE B.V., a company incorporated in the Netherlands having its registered office at the Vondelingenweg 601, 3196 KK Vondelingenplaat, Rotterdam, The
Netherlands (hereinafter referred to as “SNC”); and 

  

	(2)	KRATON POLYMERS NEDERLAND B.V., a company incorporated under the laws of THE Netherlands with its registered office at the Vondelingenweg 601, 3196 KK Vondelingenplaat,
Rotterdam, The Netherlands (hereinafter referred to as “PURCHASER”) 

  
 RECITALS: 
  

	(A)	SNC manufactures IP at its plant in Pernis. 

  

	(B)	PURCHASER and those of its Affiliates listed in Attachment VI hereto require supplies of IP for further processing at various locations in Europe, and wish to have a long-term
stable supply of IP. 

  

	(C)	SNC is willing to supply IP to PURCHASER and PURCHASER is willing to take delivery of IP from SNC on the terms and conditions set out in this Agreement. 

  

	(D)	Elastomers and Lower Olefins want to co-operate in a global partnership. 

  
 IT IS AGREED as follows: 
  

	1.	Definitions and Interpretation 

  

	1.1	In this Agreement, where the context so admits, the following words and expressions shall have the following meanings: 

  

			
	 “Affiliate”
	  	means in relation to SNC, N.V. Koninklijke Nederlandsche Petroleum Maatschappij, The “Shell” Transport and Trading Company, p.l.c. and any other company other than SNC which is
directly or indirectly affiliated with the first mentioned companies or either of them.

  

 (Pernis-Isoprene Monomer-Feedstock Agt.) 

			
	 	  	Means in relation to PURCHASER, any company which is directly or indirectly affiliated with PURCHASER.
		
	 	  	For the purposes of this definition, a particular company is:
		
	 	  	 (i)     directly affiliated with another company or companies if the latter hold(s) shares or similar entitlements
carrying fifty per cent (50%) or more of the votes exercisable at a general meeting of shareholders (or its equivalent) of the particular company; and

		
	 	  	 (ii)    indirectly affiliated with a company or companies (“the parent company or companies”) if a series of
companies can be specified, beginning with the parent company or companies and ending with the particular company, so related that each company or companies, except the parent company or companies, is directly affiliated with one or more of the
companies earlier in the series;

		
	 “Agreement”
	  	Means this isoprene monomer supply agreement including its Attachments;
		
	 “Berre”
	  	Means PURCHASER’s plant in Berre, France;
		
	 “CMR Complex”
	  	Means the chemical plants that fall under the Veiligheidsdistrict Chemie, Monomeren en Rubber, including, but not limited to the isoprene extraction plant and the Kraton plant; which
comprises Pernis SIS and Pernis IR;
		
	 “EMU Legislation”
	  	Means the legislative measures of the Council of the European Union providing for the introduction of, changeover to, or operation of, the Euro;
		
	 “Euro”
	  	Means the single currency of the Participating Member States in the Third Stage;

  

					
	 	  	2	  	(Pernis-Isoprene Monomer-Feedstock Agt.)

			
		
	 “Flowmeters W, X, Y and Z”
	  	Means the flowmeters referred to in Attachment III;
	
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	 “IP”
	  	Means isoprene monomer;
		
	 “IP/19 Product”
	  	Means IP/19 complying with the specifications set out in Attachment 1;
		
	 “IP/60 Product”
	  	Means IP/60 complying with the specifications set out in Attachment 1;
		
	 “IP/99 Product”
	  	Means IP acquired from third party producers;
		
	 “Month”
	  	Means a calendar month;
		
	 “Participating Member
 States”
	  	Means those member states of the European Union from time to time which adopt a single, shared currency in the Third Stage, as defined and identified in the EMU Legislation;
		
	 “Pernis SIS”
	  	Means PURCHASER’s production line in Pernis, The Netherlands which manufactures styrene-isoprene block copolymers;
		
	 “Pernis IR”
	  	Means PURCHASER’s production line in Pernis, The Netherlands which manufactures polyisoprene rubber;
		
	 “PIR”
	  	Means polyisoprene rubber;
	
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	 “Polysolvent”
	  	Means the C5 hydrocarbons in any isoprene containing stream that are not isoprene;
		
	 “Product”
	  	Means the IP/19 Product, the IP/60 Product and the IP/99 Product with the specifications set out in Attachment I;

  

					
	 	  	3	  	(Pernis-Isoprene Monomer-Feedstock Agt.)

			
	 “Quarter”
	  	Means a period of three consecutive months commencing 1 January, 1 April, 1 July and 1 October in any Year;
		
	 “SIS”
	  	Means styrene-isoprene block copolymers;
		
	 “Third Party”
	  	Means any third party other than SNC and PURCHASER and their respective Affiliates;
		
	 “Three Month Period”
	  	Means a period of three consecutive Months beginning on the first day of the first Month in that period;
		
	 “Third Stage”
	  	Means the third stage of European economic and monetary union pursuant to the Treaty establishing the European Community (as amended from time to time);
		
	 “Tonne”
	  	Means one thousand kilograms;
		
	 “U-2000 Extraction Plant”
	  	Means the isoprene extraction plant which produces raw or untreated isoprene;
		
	 “U-3500Treatment Plant”
	  	Means the isoprene Sodium treatment plant which purifies raw isoprene to meet the quality required for polymerisation;
		
	 “Volume”
	  	Means the amount of Product supplied by SNC to PURCHASER under this Agreement;
		
	 “Wesseling”
	  	Means PURCHASER’s plant in Wesseling, Germany;
		
	 “Year”
	  	Means a calendar year.

  

	1.2	References in this Agreement to Clauses and Attachments are to Clauses in and Attachments to this Agreement. The Recitals and Attachments to this Agreement form part of this
Agreement. 

  

	1.3	Headings are inserted for convenience only and shall not affect the construction of this Agreement. 

  

	1.4	The masculine gender shall include the feminine and neuter and the singular number shall include the plural and vice versa. 

  

					
	 	  	4	  	(Pernis-Isoprene Monomer-Feedstock Agt.)

	2.	Supply and Purchase of Product 

  

	2.1	SNC shall, subject to the provisions of sub-clause 4.1, supply to PURCHASER [***] [Confidential Treatment Requested] Product and IP in IP/60 Product per Year (which is the present
Pernis plant capacity), and PURCHASER shall purchase from SNC [***] [Confidential Treatment Requested] Product and IP in IP/60 Product per Year. 

  

	2.2	In addition, on request of PURCHASER SNC shall purchase such volume of IP/99 Product as PURCHASER shall request for supply to PURCHASER and PURCHASER shall acquire any such volumes
of IP/99 Product so requested. The combined volume of isoprene shall constitute PURCHASER’s total annual demand in Europe. Volumes are listed in 4.1. 

  

	2.3	The obligation of PURCHASER to take delivery of PRODUCT may be taken over wholly or in part by one or more of those Affiliates listed in Attachment VI. 

  

	3.	Quality 

  

	3.1	SNC warrants that all Product supplied to PURCHASER shall comply with the specifications set out in Attachment I unless otherwise agreed. In the case of pipeline deliveries, quality
data will be supplied to PURCHASER on a regular basis as set out in attachment I. 

  

	3.2	In the event that PURCHASER reasonably believes that it has cause to complain that the quality of Product delivered to it pursuant to this Agreement does not comply with the
specification set out in Attachment I, PURCHASER shall give written notice specifying the nature of its complaint and the parties shall promptly meet so as to endeavour to resolve that complaint. In the case of non-performance (resulting from a
failure to react the isoprene, or continued inability to meet the polymer specifications or from some other cause), a team will be formed on PURCHASER’s request consisting at least of the PURCHASER’s representative at the plant and the
assistant plant manager of the monomers plant, as well as the plant manager of the CMR Complex, which team shall have the responsibility to find the cause of non-performance and implement a solution as soon as possible. 

  

	3.3	In the event that Product supplied by SNC to PURCHASER is proved to have failed to comply with the specifications set out in Attachment I, PURCHASER shall be entitled at its option
to require SNC either (a) to take back and replace such defective Product with Product which meets the specifications as soon as reasonably practicable thereafter or (b) to reimburse the invoice value of the defective Product.

  

					
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	3.4	Attachment II contains an approved suppliers list of sources approved by PURCHASER. PURCHASER will indicate to SNC which other suppliers (apart from meeting specifications) can be
accepted and added to the approved suppliers list (any such indications not to be unreasonably withheld). 

  

	3.5	In the absence of any written notice from PURCHASER to SNC within 15 days after delivery of the Product, the Product shall be deemed to have been delivered and accepted by PURCHASER
in a satisfactory condition and in all respects in accordance with the specifications and SNC shall have no liability to PURCHASER with respect to that delivery. 

  

	4.	Volumes, Scheduling and Nomination, Procurement of Isoprene 

  

	4.1	Planning volumes and Agreed Volume 

  

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 Forecasts of purchased volumes will be supplied along with information concerning the Agreed Volumes as indicated in 4.2 and 4.3. 
  

	4.1.2 	As soon as possible thereafter and in any event no later than 1st October in the same Year SNC and PURCHASER shall agree on the volume of IP/19 Product and IP/60 Product to be purchased and supplied during the forthcoming Year. The volume so determined shall be within the range of Volumes set out
in clause 2.1 and, subject to any adjustment required under sub-clause 4.1.3, shall constitute the “Agreed Volume”. 

  

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	4.2	Three month rolling forecast 

  
 Subject to Clause 4.1 PURCHASER shall submit to SNC in writing its monthly requirement for each of the IP in IP/19 Product, the IP in IP/60 Product and
the IP/99 Product for each Three Month Period, such submission to be made monthly and to be made available to SNC no less than eight working days before the beginning of the first month of each Three Month Period. 
  
 Both parties shall use their best endeavours to purchase and supply Product
evenly spread throughout the Year. 
  

	4.3	Information on shutdowns 

  
 PURCHASER and SNC shall notify each other at the earliest opportunity, but not later than twelve months before it occurs, of any planned shutdown or
maintenance programme, and its duration, which may affect SNC’s capability to supply, or PURCHASER’s capability to purchase, Product. 
  

	4.4	Variations to Agreed Volumes 

  
 PURCHASER shall be obliged to purchase and SNC shall be obliged to supply the Agreed Volume of IP in IP/19 Product and IP in IP/60 Product in each Year.
In the case of persistent failure of PURCHASER to purchase, or SNC to supply, the Agreed Volume, as the case may be, the party in default of its obligations will immediately inform the other party and both will seek to resolve the problem in mutual
agreement minimising the impact on both businesses. Examples are set out in Attachment V. 
  

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does not purchase the Agreed Volume. PURCHASER has at its own cost the right of audit of the Product sales of SNC into the merchant market by an independent
surveyor acceptable to both parties. Only in case of significant deviations SNC would carry the costs of such audit. 

  

	5.	Delivery Terms 

  

	5.1	SNC shall deliver Product to Pernis by pipeline from SNC’s storage in Pernis to PURCHASER’s flange at Pernis, The Netherlands on a CPT basis. 

  

	5.2	To the extent not inconsistent with any terms of this Agreement, Incoterms (1990 edition) shall apply. 

  

	5.3	For supplies to Pernis, title and risk in the Product shall pass from SNC to PURCHASER when the Product passes the permanent connected flow meter, as shown in Attachment III.

  

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	6.	Quantity Measurement 

  

	6.1	The quantity of Product delivered during any period shall be determined by the Flowmeters and analytical equipment as referred to in Clause 5.3. 

  
 The quantity of Product delivered will be determined as follows: 

 
 The percentage of IP in IP/19 multiplied by the volume recorded by
Flowmeter X, plus 
  
 The percentage of IP in IP/60 multiplied by
the volume recorded by Flowmeter Y 
  
 minus the percentage of IP
in the return stream from the Pernis IR unit multiplied by the volume recorded by Flowmeter Z. 
  

	6.2	The quantity of Polysolvent delivered during any period shall be determined by the Flowmeters and analytical equipment as mentioned in Clause 5.3. 

  
 The quantity of Polysolvent delivered will be determined as follows:

  
 The percentage of Polysolvent in IP/19 multiplied by volume
recorded by Flowmeter X, plus 
  
 The percentage of Polysolvent
in IP/60 multiplied by volume recorded by Flowmeter Y 
  
 minus
the percentage of Polysolvent in the return stream from the Pernis IR unit multiplied by volume recorded by Flowmeter Z, 

  

					
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plus the total amount of the return stream from the Pernis SIS unit as measured by Flowmeter W [note: this will be the stream ex U-4000 to RKW]. 

 

	6.3	The invoice quantity shall be determined by SNC based on the reading given by its calibrated Flowmeters, or on the level difference in its gauged IP tanks, both corrected for
temperature. 

  

	6.4	SNC shall be responsible for the upkeep and maintenance of its gauged IP tanks and its calibrated flow meters. 

  

	6.5	SNC shall arrange for the testing and calibration of all its gauged IP tanks and calibrated flow meters on a regularly scheduled basis. 

  

	6.6	If at any time PURCHASER has reasonable grounds to suspect that any measuring equipment, including the Flowmeters, is not accurate in any respect, the discrepancy or suspected
discrepancy shall be immediately reported to SNC in writing along with any evidence in support of such claim and SNC shall arrange for the testing of the relevant piece of measuring equipment. 

  

	6.7	If any piece of measuring equipment fails to register or, upon test, is found not to be within +/- 0.5 percent accuracy then, for the purposes of this Agreement, a reasonable
adjustment in accordance with generally accepted engineering practices shall be made correcting all measurements made with that piece of measuring equipment. Such adjustments shall reflect, if determinable, the actual period during which any
inaccurate measurements were made. If such period cannot be determined it shall be deemed to be such period as shall be equal to one-half of the time from the date of the previous test of such measurement equipment, provided that the period covered
by any such correction shall not exceed 6 months. 

  

	7.	Price 

  

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	7.2	Prices will be subject where applicable to VAT, Excise Duty and any other government tax or duty. 

  

					
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	9.1.1 	The Agreement shall become effective on the date of this Agreement and shall remain in force until the earlier of termination in accordance with Clause 9.2 below and, subject to
sub-clause 9.1.2, 31st December, 2009. 

  

	9.1.2 	The Agreement will be automatically extended on 31st December, 2009 and each anniversary of that date thereafter for a period of one (1) year thereafter subject to notice of termination in writing by either party of not less than 24 months, such notice not expire before 31st Dec 2009. 

  

					
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	10.	General 

  

	10.1	This Agreement shall be binding upon and shall enure for the benefit of the permitted assignees of the parties. 

  

	10.2	No failure to exercise, and no delay or forbearance in exercising, any right or remedy in respect of any provision of this Agreement shall operate as a waiver of such right or
remedy. 

  

	10.3	Variations of this Agreement shall not be effective unless made in writing signed by duly authorised representatives of the parties. 

  

	11.	Notices 

  
 Any notice required to be given by either party to the other shall be in writing and shall be deemed validly served by hand delivery or by prepaid
registered letter, sent through the post to its address given below, or such other address as may from time to time be notified for this purpose and any notice served by hand shall be deemed to have served on delivery, and any notice served by
prepaid registered letter shall be deemed to have been served 48 hours after the time of which it was posted, and in proving service it shall be sufficient (in the case of service by hand or prepaid registered letter) to prove that the notice was
properly addressed and delivered or posted, as the case may be. 
  

			
	PURCHASER	  	SNC
		
	KRATON POLYMERS HOLDINGS B.V.	  	Shell Nederland Chemie B.V.
		
	Vondelingenweg 601	  	Postbus 3005
	NL-3196 KK Vondelingenplaat Rt.	  	NL-3190 GB Hoogvliet Rt.

  

	12.	Force Majeure 

  

	12.1	 Neither party shall be under any liability to the other whether in contract or in tort due to the first party being delayed or hindered in or prevented from
performing any or all of its obligations under this Agreement by reason of fire, explosion, 

  

					
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accident, flood, act of God, war, riot, labour dispute, strike, lockout, plant breakdown, shortage or non-availability of raw materials not arising from a
conscious and deliberate act on the part of the supplier or any other cause (whether or not of the same nature as the foregoing) not reasonably foreseeable at the date of this Agreement and beyond the reasonable control of the party in question.

  

	12.2	If either party is unable to perform any of its obligations under this Agreement by reason of any of the causes mentioned in Article 12.1 above or if either party considers it
likely that it may become so unable, then that party shall as soon as reasonably practicable notify the other of the nature, estimated extent and duration of such inability. In case of any reasonable doubt as to occurrence of any of the causes
mentioned in Article 12.1, preventing a party to fulfil its contractual obligations under this Agreement, the other party has the right to have any of such causes confirmed by an independent auditor, subject to the approval of the other party, such
approval not to be unreasonably withheld. In such an auditing process, the party declaring Force Majeure will give access to any necessary information available to that party, unless that party is bound by secrecy agreements. However it being
explicitly understood that all decisions concerning health, safety and environmental matters shall be at the sole discretion of the party declaring Force Majeure. The party affected by Force Majeure shall use all reasonable efforts to remedy the
event of Force Majeure as soon as possible. 

  

	12.3	In the event of a shortage of Product due under this Agreement, caused by reasons as defined in Article 12.1, the Volume to be delivered in the period affected by Force Majeure
shall be reduced on a pro rata basis with quantities to be delivered under binding contracts in existence at the time the Force Majeure event occurred or could reasonably be anticipated. 

  

	12.4	Lack of funds shall not be Force Majeure. 

  

	12.5	Neither party shall be entitled to rely on Force Majeure to relieve it from an obligation to pay money which would otherwise be payable under this Agreement (save to the extent and
for the period that payment of the same cannot be made by reason of bank strike or similar occurrence). 

  

	13.	Liability 

  

	13.1	Subject to Clause 13.3, in the event that IP supplied under this Agreement does not accord with the specifications set out in Attachment I, SNC shall promptly replace such IP and
SNC shall have no other liability in contract or in tort or in any other way for any loss or damage to PURCHASER arising from any act or omission in or relating to the supply or failure to supply IP under this Agreement. 

  

					
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	13.2	Subject to Clause 13.3, neither party shall be liable to the other for loss of profits, loss of margin, loss of use, loss of contract, loss of good goodwill or any indirect or other
consequential losses of any nature whatsoever, whether or not caused by or resulting from the negligence of such party or breach of its statutory duties or a breach of its obligations under this Agreement howsoever caused. 

 

	13.3	Nothing in this Agreement shall exclude, restrict or limit any liability of either of the parties for: 

  

	 	(i)	death or personal injury resulting from negligence as defined in the Unfair Contract Terms Act 1977; or 

  

	 	(ii)	fraud or any other matter if and to the extent that, under English law, liability for it cannot be excluded, restricted or limited as against PURCHASER in the context of this
Agreement. 

  

	13.4	To the extent that SNC is in breach of any supply obligation under this Agreement, or if SNC has failed to supply Product pursuant to an event of Force Majeure which has, in any
case, resulted in a shortfall in supply or failure in supply of Product to PURCHASER under this Agreement, PURCHASER shall, upon prior written notice to SNC of such intention, have the right to purchase elsewhere at its own risk and cost, such
quantities of Product as may be necessary to cover the shortfall in its requirements resulting from the shortfall in, or failure to, supply to it during the period of such shortfall or failure to supply. 

  
 Any quantities of Product purchased by PURCHASER from Third Parties in this
context shall be deducted from the Agreed Volume of Product on an equivalent basis provided PURCHASER gives SNC notice as soon as is reasonably practicable of any such purchase of Product. 
  

	14.	Assignment 

  
 Either Party may at any time, with the prior written consent of the other Party (such consent not to be unreasonably withheld or delayed), assign all or
any part of the benefit of, or its rights and benefits under, this Agreement except that no consent shall be required in the case of an assignment to an Affiliate or Affiliates. 
  

	15.	Confidentiality 

  
 Each party shall ensure that unless the other party gives its prior written consent no information regarding the contents of this Agreement shall be
disclosed except to an Affiliate and only then, if and to the extent such Affiliate needs to know the terms and conditions of this Agreement. The party in question shall ensure that 

  

					
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the Affiliate in question is notified of the confidential nature of this Agreement and that such Affiliate enters into an appropriate confidentiality
undertaking. 

  

	16.	Hardship 

  
 If at any time during this Agreement either party is of the view that there has been a substantial change in business, monetary, technical or commercial
conditions (excluding changes in the market price of IP and any other of the afore-mentioned changes that are to be borne by either party pursuant to the purpose of this Agreement) as a result of which that party suffers material hardship in
complying with this Agreement, that party may notify the other in writing that it wishes to meet and review the conditions of the Agreement in the light of the changed business conditions. The parties shall meet to discuss in good faith appropriate
means, if any, to alleviate or mitigate the effects of such hardship in a manner equitable to both parties. 
  

	17.	Severability 

  

	17.1	If any of the provisions of this Agreement is or becomes illegal, void or unenforceable under the law of any jurisdiction, 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. 

  

	17.2	The invalidity of one or more provisions of this Agreement shall not affect:- 

  

	 	(A)	the legality, validity or enforceability in that jurisdiction of any other provision of this Agreement; or 

  

	 	(B)	legality, validity or enforceability under the law of any other jurisdiction of that or any other provision of this Agreement. 

  

	18.	Governing Law and Arbitration 

  

	18.1	This Agreement shall be governed by and construed in accordance with English law. 

  

	18.2	In the event any dispute, controversy, or difference of opinion arises between the parties hereunder out of or in relation to or in connection with this Agreement or the breach
thereof, the parties agree that all disputes arising in connection with the present Agreement shall be finally settled under the rules of conciliation and arbitration of the International Chamber of Commerce in Paris by three (3) arbitrators
appointed in accordance with those rules. The place of arbitration shall be Rotterdam and the language shall be English. 

  

					
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	19.	Necessary Approvals 

  

	19.1	As soon as reasonably practicable after signature of this Agreement, both parties agree to co-operate in notifying the Agreement to the EC commission for negative clearance and/or
exemption pursuant to Article 81 (3) of the EC Treaty. 

  

	19.2	The parties will negotiate in good faith with the Commission and with each other any amendment to the arrangements contemplated by this Agreement (or any other arrangements between
the parties or their associates) relevant to the joint notification referred to in Clause 19.1 requested by the Commission in order to obtain the negative clearance or exemption so requested. If no agreement can be reached all rights and obligations
under this Agreement shall cease to exist. 

  

	20.	Counterparts 

  

	20.1	This Agreement may be executed in any number of counterparts, and by the Parties on separate counterparts, but shall not be effective until each Party has executed at least one
counterpart. 

  

	20.2	Each counterpart shall constitute an original of this Agreement, but all the counterparts shall together constitute but one and the same instrument. 

  

					
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 IN WITNESS whereof this document has been signed by duly authorised persons on behalf of the Parties the day and
year first before written. 
  

					
	 SHELL NEDERLAND CHEMIE B.V.
 Rotterdam
	 	 	 	 KRATON POLYMERS
 NEDERLAND B.V.
 Rotterdam

			
	/s/    Illegible	 	 	 	/s/    Illegible
	Illegible	 	 	 	Illegible

  

 (Pernis-Isoprene Monomer-Feedstock Agt.) 

 ATTACHMENT I 
  

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	4.	QUALITY ASSURANCE 

  

	4.1	NORMAL OPERATION 

  
 It is realised by both parties that specifications can only be applied during normal operation, after strict procedures regarding start-up have been applied. 
  

	4.2	Change Management 

  
 SNC agrees to notify PURCHASER at least 3 months in advance of any changes in manufacturing, chemical composition, raw material sources, contract processing and testing methods, which may affect the performance of the
Product. 
  
 PURCHASER agrees to notify SNC at least 3 months in advance of any
changes in manufacturing, chemical composition, raw material sources, contact processing and testing methods, which may affect the performance of the Polysolvent. 
  

	4.3	Quality Reporting 

  
 A set of performance determining parameters for IP/19 Product and IP/60 Product will be defined. These parameters, and the reporting thereof, will be included in the CMR quality systems. 
  

					
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 ATTACHMENT II 
  

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 ATTACHMENT III 
  
 FLOWMETERS 
  
 The Flowmeters W,X,Y,Z will be installed by SNC after divestment. For the meantime the Isoprene and Polysolvent quantities will be determined applying actual practice.

  
 After specification and engineering a process flow scheme indicating the
location of the Flowmeters will be attached as Attachment III. 
  

					
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 ATTACHMENT IV 
  

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 ATTACHMENT V 
  

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