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Exhibit 10.35  

 
 

SECOND AMENDMENT
  TO
  HUNTSMAN SUPPLEMENTAL SAVINGS PLAN    
    

        This Second Amendment to the HUNTSMAN SUPPLEMENTAL SAVINGS PLAN (the "Plan") is entered into this 7th day of November 2007. 

        WHEREAS,
the parties restated the Plan effective July 1, 2005 and amended the Plan by a First Amendment dated November 10, 2006; and 

        WHEREAS,
the parties desire to make an additional change in the Plan in compliance with the final regulations under Section 409A of the Internal Revenue Code and the transitional
relief thereunder. 

        NOW,
THEREFORE, the Plan is hereby amended as follows: 

        1.     Effective July 1, 2007, a new paragraph is added at the end of Article VI of the Plan, reading as follows: 

        The
provisions of this Article VI providing for the distribution of the accounts of a Member to the Member (or a Beneficiary of the Member) upon a change of Control shall not
apply with respect to the accounts of a Member who elects in writing in a manner prescribed by the Plan Administrator prior to January 1, 2008 not to have the provisions of this
Article VI apply to the benefits of such member under this Plan; provided the Change of Control occurs on or after January 1, 2008. 

        2.     The provisions of this Second Amendment shall supersede the terms of the Plan to the extent those terms are inconsistent
with this First Amendment. 

        DATED
the day and year first above written. 

	

 	
 	

HUNTSMAN INTERNATIONAL LLC
	

 	
 	

By:	
 	

/s/  WADE ROGERS      
 Signature
	

 	
 	

 	
 	

Wade Rogers
 Type or print name

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Exhibit 10.36  

 
 

FIRST AMENDMENT
  TO
  HUNTSMAN OUTSIDE DIRECTORS ELECTIVE DEFERRAL PLAN    
    

        This First Amendment to the HUNTSMAN OUTSIDE DIRECTORS ELECTIVE DEFERRAL PLAN (the "Plan") is entered into this 28 day of April, 2006. 

        WHEREAS,
Huntsman Corporation (the "Company") has adopted the Plan and desires to amend it to clarify the limitations on changes in the form of payment in compliance with the proposed
regulations issued under Section 409A of the Code. 

        NOW,
THEREFORE, the Plan is hereby amended as follows: 

        1.     Effective January 1, 2006, Section 6.3 of the Plan is restated to read as follows: 

        6.3    Changes in Form of Payment.    A Director may change his or her
election of the form of payment for a Commencement Date by submitting a written election form to the Plan Administrator; provided 

        (a)   such
election shall not be effective for a Commencement Date that occurs within 12 months from the date the election form was received by the Plan Administrator;
and 

        (b)   if
the Commencement Date is on account of a separation from service as that term is used in Section 3.14, notwithstanding other provisions of this Plan, the
payment or payments to which the Director is entitled shall not commence to be paid to the Director until 5 years from the date that the
payment or payments would otherwise have commenced if the election to change the form of payment had not been made. 

        2.     Except as expressly amended by this First Amendment, the terms of the Plan as existing immediately prior to this amendment
shall remain in full force and effect. 

        DATED
the day and year first above written. 

	

 	
 	

HUNTSMAN CORPORATION
	

 	
 	

By:	
 	

/s/  KIMO ESPLIN      

	

 	
 	

Name:	
 	

Kimo Esplin
	

 	
 	

Title:	
 	

Executive Vice President & CFO

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Exhibit 10.37  

 
 

HUNTSMAN CORPORATION
  STOCK INCENTIVE PLAN
  
    Restricted Stock Agreement    
    

	Grantee:	 	 
	

Date of Grant:	
 	

 
	

RS Grant Number:	
 	

 
	

Number of Restricted Shares Granted:	
 	

 

        1.     Notice of Grant. You are hereby granted pursuant to the Huntsman Corporation Stock Incentive Plan (the "Plan") the above
number of restricted shares of Common Stock ("Restricted Stock") of Huntsman Corporation (the "Company"), subject to the terms and conditions of the Plan and this Agreement. 

        2.     Vesting of Restricted Stock. For so long as that certain Agreement and Plan of Merger, dated July 12, 2007, among
Hexion Specialty Chemicals, Inc., Nimbus Merger Sub Inc. and Huntsman Corporation (as amended from time to time, the "Merger Agreement") has not been terminated, then the following
provisions shall apply: 

        (i)    Immediately
prior to the Effective Time (as defined in the Merger Agreement), the restrictions on one-half of the shares of Restricted Stock granted hereby
shall immediately lapse and, at the Effective Time, such vested shares of Company Common Stock shall be converted into the right to receive the Merger Consideration (as defined in the Merger
Agreement) at the Effective Time in accordance with the terms of the Merger Agreement; and 

        (ii)   At
the Effective Time, the remaining half of the shares underlying the Restricted Stock granted hereby, shall be converted into the right to receive the Merger
Consideration (as defined in the Merger Agreement) upon the date six months following the Closing Date (as defined in the Merger Agreement); provided, however, that if the holder is
involuntarily terminated (unless such involuntary termination is for "Reasonable Cause", as such term is defined in the Huntsman Executive Severance Plan effective as of January 1, 2005) or is
voluntarily terminated prior to such date and such termination was a result of a significant detrimental reduction or change to job responsibilities or current base compensation or material change of
work location, the restrictions on the shares underlying the Restricted Stock granted hereby shall lapse immediately upon termination. 

        In
the event that the Merger Agreement is terminated without the consummation of the merger having occurred, then, subject to the further provisions of this Agreement, the shares of
Restricted Stock shall instead become vested in accordance with the following schedule: 

	Anniversary of

Date of Grant
	 	Cumulative

Vested Percentage

	1st	 	331/3%
	

2nd	
 	

662/3%
	

3rd	
 	

100%

        Distributions
on a share of Restricted Stock shall be held by the Company without interest until the Restricted Stock with respect to which the distribution was made becomes vested or is
forfeited. Notwithstanding the above schedule, all shares of Restricted Stock that are not vested on or, in the case of (ii) above, in connection with, your termination of employment (including
without limitation 

 

termination
on account of death, disability, or retirement), shall be automatically cancelled and forfeited without consideration upon your termination. 

        For
purposes of this Agreement, "employment" shall include being an employee or a director of, or a consultant to, the Company or an Affiliate. 

        3.     Certificates. A certificate evidencing the shares of Restricted Stock shall be issued by the Company in your name,
pursuant to which you shall have all of the rights of a shareholder of the Company with respect to the shares of Restricted Stock, including, without limitation, voting rights. The certificate shall
contain an appropriate endorsement reflecting the forfeiture restrictions. The certificate shall be delivered upon issuance to the Secretary of the Company or to such other depository as may be
designated by the Committee as a depository for safekeeping until the forfeiture of such Restricted Stock occurs or the vesting of the shares pursuant to the terms of the Plan and this Agreement. You
shall, if required by the Committee, deliver to the Company a stock power, endorsed in blank, relating to the Restricted Stock. Upon vesting, the Company shall cause a new certificate or certificates
to be issued without legend (except for any legend required pursuant to applicable securities laws or any other agreement to which you are a party) in your name in exchange for the certificate
evidencing the shares of Restricted Stock that have vested. 

        4.     Nontransferability of Restricted Stock. You may not sell, transfer, pledge, exchange, hypothecate or dispose of shares of
Restricted Stock in any manner. A breach of these terms of this Agreement shall cause a forfeiture of the shares of Restricted Stock. 

        5.     Entire Agreement; Governing Law. The Plan is incorporated herein by reference. The Plan and this Agreement constitute the
entire agreement of the parties with respect to the subject matter hereof and supersede in their entirety all prior undertakings and agreements of the Company and you with respect to the subject
matter hereof, and may not be modified materially adversely to your interest except by means of a writing signed by the Company and you. This Agreement is governed by the internal substantive laws,
but not the choice of law rules, of the state of Delaware. 

        6.     Withholding of Tax. To the extent that the receipt of the shares of Restricted Stock or vesting results in income to you
for federal, state or other tax purposes, the Company shall withhold and cancel from the number of shares of Restricted Stock awarded you such number of shares of Restricted Stock necessary to satisfy
the tax required to be withheld by the Company. 

        7.     Amendment. Except as provided below, this Agreement may not be modified in any respect by any oral statement,
representation or agreement by any employee, officer, or representative of the Company or by any written agreement which materially adversely affects your rights hereunder unless signed by you and by
an officer of the Company who is expressly authorized by the Company to execute such document. This Agreement may, however, be amended as permitted by the terms of the Plan, as in effect on the date
of this Agreement. Notwithstanding anything in the Plan or this Agreement to the contrary, if the Committee determines that the terms of this grant do not, in whole or in part, satisfy the
requirements of Section 409A of the Internal Revenue Code, the Committee, in its sole discretion, may unilaterally modify this Agreement in such manner as it deems appropriate to comply with
such section and any regulations or guidance issued thereunder. 

        8.     General. You agree that the shares of Restricted Stock are granted under and governed by the terms and conditions of the
Plan and this Agreement. In the event of any conflict, the terms of the 

2

 

Plan
shall control. Unless otherwise defined herein, the terms defined in the Plan shall have the same defined meanings in this Restricted Stock Agreement. 

	

 	
 	
HUNTSMAN CORPORATION
	

 	
 	

 Wade Rogers

Vice President, Global Human Resources
	

 	
 	
GRANTEE
	
 	
 	

 Signature

3

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HUNTSMAN CORPORATION STOCK INCENTIVE PLAN Restricted Stock Agreement

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