Document:

EMPLOYMENT AGREEMENT

 Exhibit 10.26 
 Execution Copy

  
 EMPLOYMENT AGREEMENT 
  
 This Agreement (this “Agreement”), dated as of November 20, 2002, is made by and between Constar International Inc., a Delaware corporation, having its principal offices at One Crown
Way, Philadelphia, Pennsylvania 19154 (the “Company”), and Mr. James C.T. Bolton (the “Executive”). 
  
 Recitals 
  
 1. The stockholder of the Company intends to sell shares of the Company’s
common stock to the public pursuant to the Company’s initial public offering (the “IPO”), as more fully described in the Company’s Registration Statement on Form S-1 (Reg. No. 333-88878). 
  
 2. Subject to the closing of the IPO, the Company and the Executive are willing to agree to the terms as presented in the Agreement.

  
 Agreement 
  
 NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, and other good and valuable consideration, the Company and the Executive hereby agree as follows: 

 
 1. Definitions. 
  
 1.1. “Affiliate” means any person or entity controlling, controlled by or under common control with the Company. 
  
 1.2. “Board” means the Board of Directors of the Company. 
  
 1.3. “Cause” means (a) the Executive, in carrying out his duties under this Agreement, engages in gross misconduct or gross negligence resulting in any adverse effect on the Company,
(b) the Executive embezzles any amount of the Company’s assets, (c) the Executive is convicted (including a plea of guilty or nolo contendere) of a felony involving moral turpitude, (d) the Executive’s breach of any covenant
contained in Section 9 below, or (e) the Executive’s material failure to follow the lawful instructions of the Company’s Board (consistent with Section 4 below). 
  
 1.4. “Change in Control” shall mean: 
  
 1.4.1. The acquisition, after the Commencement Date, by an individual, entity or group (within the meaning of Section 13(d)(3) or 14 (d)(2) of the Securities Exchange Act of 1934 (the
“Exchange Act”)) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of more than 30% of the combined voting power of the voting securities of the Company entitled to vote generally in the election
of directors (the “Voting Securities”); provided, however, that the following acquisitions shall not constitute a Change in Control: (a) any acquisition,
 

 
directly or indirectly, by or from the Company or any subsidiary of the Company, or any employee benefit plan (or related trust) sponsored or maintained by the Company or any subsidiary of the
Company, (b) any acquisition by any underwriter in connection with any firm commitment underwriting of securities to be issued by the Company, or (c) any acquisition by any corporation if, immediately following such acquisition, 70% or more of the
then outstanding shares of common stock of such corporation and the combined voting power of the then outstanding voting securities of such corporation (entitled to vote generally in the election of directors), are beneficially owned, directly or
indirectly, by all or substantially all of the individuals and entities who, immediately prior to such acquisition, were the beneficial owners of the Common Stock and the Voting Securities in substantially the same proportions, respectively, as
their ownership, immediately prior to such acquisition, of the Common Stock and Voting Securities; or 
  
 1.4.2. The occurrence of a reorganization, merger or consolidation other than a reorganization, merger or consolidation with respect to which all or substantially all of the individuals and entities who were the beneficial
owners, immediately prior to such reorganization, merger or consolidation, of the Common Stock and Voting Securities beneficially own, directly or indirectly, immediately after such reorganization, merger or consolidation 70% or more of the then
outstanding common stock and voting securities (entitled to vote generally in the election of directors) of the corporation resulting from such reorganization, merger or consolidation in substantially the same proportions as their respective
ownership, immediately prior to such reorganization, merger or consolidation, of the Common Stock and the Voting Securities; or 
  
 1.4.3. The occurrence of (a) a complete liquidation or substantial dissolution of the Company, or (b) the sale or other disposition of all or substantially all of the assets of the Company, in
each case other than to a subsidiary, wholly-owned, directly or indirectly, by the Company or to a holding company of which the Company is a direct or indirect wholly owned Subsidiary prior to such transaction; or 
  
 1.4.4. During any period of twenty-four (24) consecutive months commencing upon the Commencement Date, the
individuals at the beginning of any such period who constitute the Board and any new director (other than a director designated by a person or entity who has entered into an agreement with the Company or other person or entity to effect a
transaction described in Sections 1.4.1, 1.4.2 or 1.4.3 above) whose election by the Board or nomination for election by the Company’s stockholders was approved by a vote of at least two-thirds ( 2/3) of the directors then still in office who either were directors at the beginning of any such period or whose election or nomination for election was
previously so approved, cease for any reason to constitute a majority of the Board. 
  
 Notwithstanding the above, a “Change in
Control” shall not include any event, circumstance or transaction which results from the action of any entity or group which includes, is affiliated with or is wholly or partially controlled by one or more executive officers of the Company and
in which the Executive participates. 

 
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 1.5. “Disability” means the Executive’s inability to
render, for a period of six consecutive months, services hereunder by reason of physical or mental disability, as determined by the written medical opinion of an independent medical physician mutually acceptable to the Executive and the Company. If
the Executive and the Company cannot agree as to such an independent medical physician, each shall appoint one medical physician and those two physicians shall appoint a third physician who shall make such determination. In no event shall the
Executive be considered disabled for the purposes of this Agreement unless the Executive is deemed disabled pursuant to the Company’s long-term disability plan, if one is maintained by the Company. 
  
 1.6. “Good Reason” means and shall be deemed to exist if, without the prior express written consent of the Executive, (a)
the Executive suffers a material change in his reporting obligations, (b) the Executive suffers a material change in the duties, responsibilities or effective authority associated with his titles and positions, as set forth and described in Section
4 of this Agreement; (c) the Executive’s base salary amount (as set forth in Section 5.1 below) is decreased by the Company; (d) the Company fails to pay the Executive’s accrued compensation or to provide for the Executive’s accrued
benefits when due; or (e) the Executive’s office location is moved to a location more than 50 miles from Philadelphia, Pennsylvania. 
  
 1.7. “Non-Extension” means that prior to the occurrence or initiation of a termination of the Executive’s employment for any reason set forth in Section 6, either party, in accordance with Section 3,
has notified the other party of its intent not to extend the Term of Employment. 
  
 2. Employment.
Subject to the terms and provisions set forth in this Agreement, the Company hereby agrees that the Executive shall at all times during the Term of Employment be employed as the senior vice president of administration and strategic planning for the
Company, and the Executive hereby accepts such employment. 
  
 3. Term of Employment. The term of
employment under this Agreement shall commence on the closing of the IPO (the “Commencement Date”) and, unless earlier terminated under Section 6 below or extended pursuant to the next sentence, shall terminate on the third anniversary of
the Commencement Date (the “Term of Employment”). The Term of Employment shall automatically be extended, subject to the same terms, conditions and limitations as provided herein, for an additional one year period on the third anniversary
of the Commencement Date and on each such anniversary date thereafter unless, not later than ninety days prior to any such anniversary, either party to this Agreement shall have given notice to the other that the Term of Employment shall not be
extended or further extended beyond its then automatically extended term, if any. 
  
 4. Positions,
Responsibilities and Duties. 
  
 4.1. Positions. During the Term of Employment, the Executive
shall be employed and serve as the senior vice president of administration and strategic planning for the Company. In such position, the Executive shall have the duties, responsibilities and authority normally associated with the office and position
of senior vice president of administration and strategic planning of a publicly-traded corporation. The Executive shall report to the Board, the
 

 
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chief executive officer and the chief financial officer. All other personnel in human resources, as well as the chief information officer and his staff, shall report to the Executive and/or his
designees. Notwithstanding the above, the Executive shall not be required to perform any duties and responsibilities which would be likely to result in a non-compliance with or violation of any applicable law or regulation. 
  
 4.2. Duties. During the Term of Employment, the Executive shall have responsibility for and authority over the continuous
process of development, implementation and improvement of Constar’s strategic plan and of Constar’s business processes for the Company and its Affiliates. Additionally, during the Term of Employment, the Executive shall devote
substantially all of his business time, during normal business hours, to the business and affairs of the Company and the Executive shall use his reasonable best efforts to perform faithfully and efficiently the duties and responsibilities
contemplated by this Agreement; provided, however, that the Executive shall be allowed, to the extent such activities do not substantially interfere with the performance by the Executive of his duties and responsibilities hereunder, to
(a) manage the Executive’s personal, financial and legal affairs, and (b) serve on corporate, civic or charitable boards or committees. 
  
 5. Compensation and Other Benefits. 
  
 5.1. Base
Salary. During the Term of Employment, the Executive shall receive a base salary per annum (“Base Salary”) payable in accordance with the Company’s normal payroll practices of no less than US $165,727. The Board shall review
the Executive’s Base Salary annually and may, in its sole discretion, increase (but not decrease) the Executive’s Base Salary. 
  
 5.2. Annual Bonus. In respect of each calendar year during the Term of Employment, beginning in calendar year 2002 on a pro-rated basis, the Executive shall be eligible to receive a target annual bonus (the
“Bonus”) equal to 40% of the Base Salary if the Executive and/or the Company achieves performance goals established by the Board in good faith and consistent with the Constar International Inc. Short-Term Incentive Plan. The Bonus shall
not be paid if during any such calendar year (a) the Executive voluntarily terminates his employment under this Agreement without Good Reason or (b) his employment hereunder is terminated for Cause (as such terms are defined in this Agreement).

  
 5.3. Retirement and Savings Plans. During the Term of Employment, the Executive shall be eligible
to participate as of the Commencement Date in all incentive, pension, retirement, savings, 401 (k) and other employee pension benefit plans, policies and programs (the “Retirement Plans”) maintained by the Company from time to time for the
benefit of senior executives and/or other employees. However, nothing in this Section 5.3 shall be construed to require the Company to establish or maintain any such Retirement Plans. 
  
 5.4. Welfare Benefit Plans. During the Term of Employment, the Executive, the Executive’s spouse, if any, and their dependents, if any, shall be eligible
as of the Commencement Date, without any waiting periods and without any pre-existing condition limitations, to participate in and be covered on the same basis as other senior executive officers of the Company under all the welfare benefit plans,
policies and/or programs maintained by the
 

 
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Company from time to time including, without limitation, all medical, hospitalization, dental, disability, life, accidental death and dismemberment and travel accident insurance plans, policies
and/or programs (the “Welfare Plans”). However, nothing in this Section 5.4 shall be construed to require the Company to establish or maintain any such Welfare Plans. The Welfare Plans and the Retirement Plans are sometimes referred to
collectively herein as the “Benefit Plans.” 
  
 5.5. Expense Reimbursement. During and in
respect of the Term of Employment, the Executive shall be entitled to receive prompt reimbursement for expenses incurred by the Executive in performing his duties and responsibilities hereunder in accordance with the Company’s policy for senior
executives of the Company. 
  
 5.6. Vacation and Fringe Benefits. During the Term of Employment, the
Executive shall be entitled to paid vacation each calendar year, plus paid time off due to illness or personal reasons in accordance, in all such cases, with Company policy. 
  
 5.7. Stock Options. As of the closing of the IPO, the Board shall grant the Executive a non-qualified stock option to acquire 21,400 shares of the
Company’s voting common stock (the “Option”). The per share exercise price of the Option shall be equal to the offering price of the Company’s shares to the public pursuant to the IPO. Provided that the Executive remains employed
by the Company, the Option shall vest and become exercisable as to one-third of the aggregate underlying shares on each of the first three anniversaries of the date of grant. In addition, upon the occurrence of a Change in Control, 100% of the
Option shall vest and become exercisable. Notwithstanding the above, in the event that the Executive’s employment is terminated by the Company for Cause, 100% of the Option shall terminate and be forfeited by the Executive (whether or not any
portion thereof is then vested or exercisable). In the event of the termination of the Executive’s employment for any other reason by the Company or by the Executive, including without limitation, death or disability, any portion of the Option
that is unvested or unexercisable on the date of termination shall be terminated and forfeited by the Executive and the remaining vested and exercisable portion thereof shall remain exercisable for ninety days thereafter or until the expiration of
the stated term of the Option, whichever period is shorter, except that in the case of death, disability or normal retirement at or after age 65, the vested and exercisable portion of the Option on the date of such termination shall remain
exercisable for one year or until the expiration of the stated term of the Option, whichever period is shorter. 
  
 5.8. Restricted Stock. As of the closing of the IPO, the Board shall grant the Executive 3,000 shares of restricted voting common stock of the Company (the “Restricted Shares”). 100% of the Restricted Shares
shall vest on the third anniversary of the Restricted Shares date of grant or, if earlier, upon the death, disability or normal retirement at or after age 65. In addition, upon the occurrence of a Change in Control the Restricted Shares shall become
100% vested. Notwithstanding the above, in the event that the Executive’s employment is terminated by the Company for Cause, 100% of the Restricted Shares shall be forfeited by the Executive (whether or not any portion thereof is then otherwise
vested). In the event of the termination of the Executive’s employment for any other reason by the Company or by the Executive (other than due to death, disability or normal retirement as described above), the Restricted Shares shall vest in an
amount equal to the aggregate number of Restricted Shares 

 
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multiplied by a fraction, the numerator of which is the number of days transpired from the date of grant until the date of such termination and the denominator of which is 1095. 

 
 6. Termination. 
  
 6.1. Termination Due to Death. In the event of the Executive’s death, the Executive’s estate or his legal representative, as the case may be, shall be entitled to: (a) any Base
Salary accrued but unpaid as of the date of death and Base Salary (as set forth in Section 5.1 of this Agreement) continuation through the date of the Executive’s death; (b) a pro-rata Bonus payment for the year of the Executive’s death
equal to no less than 100% of the Bonus for such year multiplied by a fraction, the numerator which is the number of days transpired in the calendar year up to and including the date of the death of the Executive, and the denominator of which is
365; (c) immediate payment of any unpaid expense reimbursements, deferred compensation and unused accrued vacation days through the date of the Executive’s death; and (d) any other benefits to which the Executive, the Executive’s estate or
the Executive’s legal representative is entitled to receive under any of the Benefit Plans. 
  
 6.2.
Termination Due to the Executive’s Disability. Upon 30 days prior written notice to the Executive, the Company may terminate the Executive’s employment hereunder due to Disability. In such event, the Executive or his legal
representative, as the case may be, shall be entitled to: (a) any Base Salary accrued but unpaid as of the date of the Executive’s termination due to Disability and Base Salary (as set forth in Section 5.1 of this Agreement) continuation
through the end of the month in which such termination occurs; (b) a pro-rata Bonus payment for the year of termination equal to no less than 100% of the Bonus for such year multiplied by a fraction, the numerator of which is the number of days
transpired in the calendar year up to and including the date on which the Executive is terminated by the Company due to Disability, and the denominator of which is 365; (c) immediate payment of any unpaid expense reimbursements, deferred
compensation and unused accrued vacation days through the date of termination; and (d) any other payments and/or benefits which the Executive or the Executive’s legal representative is entitled to receive under any of the Benefit Plans.

  
 6.3. Termination Without Cause, Non-renewal of this Agreement without Cause or by the Executive for Good
Reason Prior to Change in Control. Prior to a Change in Control and upon 30 days prior written notice to the Executive, the Company may terminate the Executive’s employment hereunder without Cause. Prior to a Change in Control and upon
30 days prior written notice to the Company the Executive may terminate his employment hereunder with the Company for Good Reason. In either such event, or in the event of a Non-Extension of this Agreement initiated by the Board other than for Cause
prior to a Change in Control and the Executive’s employment with the Company: (1) is terminated by the Company for any reason other than for Cause after the expiration of the Term of Employment or (2) is terminated by the Executive for Good
Reason after the expiration of the Term of Employment, the Executive shall be entitled to, upon execution and effectiveness of a general release in such form attached as exhibit “A”: (a) (i) Base Salary (as set forth in Section 5.1 of this
Agreement) continuation for nine months, and (ii) payment over a nine month period of 0.75 times the target Bonus amount for the year in which any such termination occurs; (b) continuation of medical benefits in effect as of the date of termination
for a period of nine months following the date of termination at the Company’s sole expense and following the expiration of this coverage period,
 

 
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COBRA continuation coverage under the Company’s medical plan for 18 months in accordance with applicable law at the Executive’s sole expense provided that the Executive is not enrolled
in another group health plan (Executive will be solely responsible for any federal or state income tax incurred on the provision of medical coverage under this Section 6.3(b)); (c) immediate payment of any unpaid expense reimbursements, deferred
compensation and unused accrued vacation days through the date of termination; and (d) any other payments and/or benefits which the Executive is entitled to receive under any of the Benefit Plans. In the event the Executive intends to terminate his
employment with the Company for Good Reason such prior written notice shall specify the particular act or acts, or failure to act, which is or are the basis for the Executive’s decision to so terminate his employment for Good Reason. The
Company shall be given 30 days after such notice to correct such act or failure to act. Upon failure of the Company, with such 30 day period, to correct such act or failure to act, the Executive may proceed to terminate his employment with the
Company. 
  
 6.4. Termination Without Cause, Non-renewal of this Agreement without Cause or by the Executive
for Good Reason After a Change in Control. After a Change in Control and upon 30 days prior written notice to the Executive, the Company may terminate the Executive’s employment hereunder without Cause. After a Change in Control and
upon 30 days prior written notice to the Company the Executive may terminate his employment hereunder with the Company for Good Reason. In either such event, or in the event of a Non-Extension of this Agreement initiated by the Board other than for
Cause after a Change in Control and the Executive’s employment with the Company: (1) is terminated by the Company for any reason other than for Cause after the expiration of the Term of Employment or (2) is terminated by the Executive for Good
Reason after the expiration of the Term of Employment, the Executive shall be entitled to, upon execution and effectiveness of a general release in such form attached as exhibit “A”: (a) a lump sum payment equal to Base Salary (as set
forth in Section 5.1 of this Agreement) plus the target Bonus amount for the year in which any such termination occurs; (b) continuation of medical benefits in effect as of the date of termination for a period of one year following the date of
termination at the Company’s sole expense and following the expiration of this coverage period, COBRA continuation coverage under the Company’s medical plan for 18 months in accordance with applicable law at the Executive’s sole
expense provided that the Executive is not enrolled in another group health plan (Executive will be solely responsible for any federal or state income tax incurred on the provision of medical coverage under this Section 6.4(b)); (c) immediate
payment of any unpaid expense reimbursements, deferred compensation and unused accrued vacation days through the date of termination; and (d) any other payments and/or benefits to which the Executive is entitled to receive under any of the Benefit
Plans. 
  
 6.5. Termination For Cause. Subject to the provisions of this Section 6.5, the Company may
terminate the Executive’s employment for Cause. In such event, the Executive shall be entitled to: (a) any Base Salary accrued but unpaid through the date of termination; (b) immediate payment of any unpaid expense reimbursements, deferred
compensation and unused accrued vacation days through the date of termination; and (c) any other payments and/or benefits to which the Executive is entitled to receive under any of the Benefit Plans. In any case described in this Section 6.5, the
Executive shall be given written notice authorized by a vote of at least a majority of the members of the Board that the Company intends to terminate the Executive’s employment for Cause. Such written notice shall specify the particular act or
acts, or failure to act, which is or are the basis for the decision to so terminate the Executive’s
 

 
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employment for Cause. Executive shall be given 30 days after such notice to cure such act or failure to act to the satisfaction of the Board. Upon failure of the Executive, within such 30 day
period, to correct such act or failure to act, the Executive shall be deemed terminated for Cause. 
  
 6.6.
Termination Without Good Reason. Upon 30 days prior written notice to the Company, the Executive shall have the right to terminate his employment hereunder without Good Reason or any reason at all. In such event, the Executive shall be
entitled to: (a) any Base Salary accrued but unpaid through the date of termination; (b) immediate payment of any unpaid expense reimbursements, deferred compensation and unused accrued vacation days through the date of termination; and (c) any
other payments and/or benefits to which the Executive is entitled to receive under any of the Benefit Plans. 
  
 6.7. Certain Other Payments. If the Executive is liable for the payment of any excise tax (the “Basic Excise Tax”) pursuant to Section 4999 of the Code, or any successor or like provision, with respect to any
payment or property transfers received or to be received under this Agreement or otherwise, the Company shall pay the Executive an amount (the “Special Reimbursement”) which, after payment to the Executive (or on the Executive’s
behalf) of any federal, state and local taxes, including, without limitation, any further excise tax under said Section 4999, with respect to or resulting from the Special Reimbursement, equals the net amount of the Basic Excise Tax. The Special
Reimbursement shall be paid as soon as practicable after it is determined by the Company or the Executive and reviewed for accuracy by the Company’s certified public accountants. 
  
 7. Non-exclusivity of Rights. Nothing in this Agreement shall prevent or limit the Executive’s continuing or future participation in any benefit, bonus,
incentive or other plan, policy or program provided or maintained by the Company and/or any Affiliate and for which the Executive may qualify, nor shall anything herein limit or otherwise prejudice such rights as the Executive may have under any
other existing or future agreements with the Company and/or any Affiliate, including, without limitation, any stock option agreements or plans. Amounts which are vested benefits or which the Executive is otherwise entitled to receive under any plans
or programs of the Company and/or any Affiliate at or subsequent to the date of termination shall be payable in accordance with such plans or programs. Notwithstanding the above, the Company shall be under no obligation to establish or maintain any
such plan, policy or program. 
  
 8. Successors. 
  

8.1. The Executive. This Agreement is personal to the Executive and, without the prior express written consent of the Company, shall not be assignable by
the Executive, except that the Executive’s rights to receive any compensation or benefits under this Agreement may be transferred or disposed of pursuant to testamentary disposition, intestate succession or pursuant to a domestic relations
order. This Agreement shall inure to the benefit of and be enforceable by the Executive’s heirs, beneficiaries and/or legal representatives. 
  
 8.2. The Company. This Agreement shall inure to the benefit of and be binding upon the Company and its respective successors and assigns. The Company shall require any successor to all or
substantially all of its business and/or assets, whether direct or indirect, by purchase, merger, consolidation, acquisition of stock, or otherwise, by an agreement
 

 
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in form and substance satisfactory to the Executive, expressly to assume and agree to perform this Agreement in the same manner and to the same extent as the Company would be required to perform
if no such succession had taken place. 
  
 9. Restrictive Covenants. 
  
 9.1. Non-Solicitation. If the Executive’s employment with the Company terminates for any reason, the Executive, for a
period of nine months after any such termination, shall not (except on the Company’s behalf), directly or indirectly, on his own behalf or on behalf of any other person, firm, partnership, corporation or other entity, (a) solicit or service the
business of any of the Company’s or its Affiliates’ clients, any of the Company’s or its Affiliates’ former clients which were clients within twelve months prior to the termination of his employment or any of the prospective
clients which were being actively solicited by the Company or its Affiliates’ at the time of the termination of his employment or (b) attempt to cause or induce any employee of the Company or its Affiliates’ to leave the Company or the
Affiliate. 
  
 9.2. Non-Competition. If the Executive’s employment with the Company terminates for
any reason, the Executive, for a period of nine months after any such termination, shall not, directly or indirectly, within or with respect to the United States of America, engage, without the consent of the Company, in any business or activity,
whether as an employee, consultant, partner, principal, agent, representative, stockholder or in any other capacity, or render any services or provide any advice to any business, activity, person or entity which competes with any PET packaging
business; provided, however, that the Executive’s ownership of not more than 5% of the stock of any publicly-traded corporation shall not be a violation of this Section 9.2. By agreeing to this contractual modification
prospectively at this time, the parties intend to make this provision enforceable under the law(s) of all applicable states so that the entire agreement not to compete and/or this Agreement as prospectively modified shall remain in full force and
effect and shall not be rendered void or illegal. Such modifications shall not affect the payments made to the Executive under this Agreement. The Executive acknowledges that his skills are such that he can be gainfully employed in noncompetitive
employment and that the agreement not to compete will in no way prevent him from earning a living. The Executive understands and agrees that the rights and obligations set forth in this Section 9.2 shall extend beyond the Term. 

 
 9.3. Confidentiality. The Executive shall not, during the Term of Employment and at any time thereafter, without
the prior express written consent of the Company, directly or indirectly divulge, disclose or make available or accessible any Confidential Information (as defined below) to any person, firm, partnership, corporation, trust or any other entity or
third party (other than when required to do so in good faith to perform the Executive’s duties and responsibilities under this Agreement or when (a) required to do so by a lawful order of a court of competent jurisdiction, any governmental
authority or agency, or any recognized subpoena power, or (b) necessary to prosecute the Executive’s rights against the Company or its Affiliates’ or to defend himself against any allegations). In addition, the Executive shall not create
any derivative work or other product based on or resulting from any Confidential Information (except in the good faith performance of his duties under this
 

 
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Agreement). The Executive shall also proffer to the Board’s designee, no later than the effective date of any termination of his employment with the Company for any reason, and without
retaining any copies, notes or excerpts thereof, all memoranda, computer disks or other media, computer programs, diaries, notes, records, data, customer or client lists, marketing plans and strategies, and any other documents consisting of or
containing Confidential Information that are in the Executive’s actual or constructive possession or which are subject to his control at such time. For purposes of this Agreement, “Confidential Information” shall mean all information
respecting the business and activities of the Company, or any Affiliate of the Company, including, without limitation, the terms and provisions of this Agreement, the clients, customers, suppliers, employees, consultants, computer or other files,
projects, products, computer disks or other media, computer hardware or computer software programs, marketing plans, financial information, methodologies, know-how, processes, practices, approaches, projections, forecasts, formats, systems, data
gathering methods and/or strategies of the Company or any Affiliate. Notwithstanding the immediately preceding sentence, Confidential Information shall not include any information that is, or becomes, generally available to the public (unless such
availability occurs as a result of the Executive’s breach of any portion of this Section 9.3). 
  
 9.4.
Ownership of Inventions. Each Invention made, conceived or first actually reduced to practice by the Executive, whether alone or jointly with others, during the term of Executive’s employment with the Company and each Invention made,
conceived or first actually reduced to practice by the Executive, whether alone or jointly with others, within one year after the termination of Executive’s employment with the Company which relates in any way to work performed for the Company
during the term of Executive’s employment, shall be promptly disclosed in writing to the Board. Such report shall be sufficiently complete in technical detail and appropriately illustrated by sketch or diagram to convey to one skilled in the
art of which the invention pertains, a clear understanding of the nature, purpose, operations, and, to the extent known, the physical, chemical, biological or other characteristics of the Invention. As used in this Agreement, “Invention”
means any invention, discovery or innovation with regard to any facet of the Company’s business whether or not patentable, made, conceived, or first actually reduced to practice by Executive, alone or jointly with others, in the course of, in
connection with, or as a result of service as an Executive of the Company, including any art, method, process, machine, manufacture, design or composition of matter, or any improvement thereof. Each invention, as herein defined, shall be the sole
and exclusive property of the Company. The Executive agrees to execute an assignment to the Company or its nominee of the Executive’s entire right, title and interest in and to any Invention, without compensation beyond that provided in this
Agreement. The Executive further agrees, upon the request of the Company and at its expense, that the Executive will execute any other instrument and document necessary or desirable in applying for and obtaining patents in the United States and in
any foreign country with respect to any Invention. The Executive further agrees, whether or not the Executive is then an employee of the Company, to cooperate to the extent and in the manner reasonably requested by the Company in the prosecution or
defense of any claim involving a patent covering any Invention or any litigation or other claim or proceeding involving any Invention covered by this Agreement, but all expenses thereof shall be paid by the Company. 
  
 9.5. Injunctive Relief. The Executive acknowledges and agrees that the Company will have no adequate remedy at law, and
would be irreparably harmed, if the Executive breaches or threatens to breach any of the provisions of this Section 9 of this
 

 
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Agreement. The Executive agrees that the Company shall be entitled to equitable and/or injunctive relief to prevent any breach or threatened breach of this Section 9, and to specific performance
of each of the terms of such Section in addition to any other legal or equitable remedies that the Company may have. The Executive further agrees that he shall not, in any equity proceeding relating to the enforcement of the terms of this Section 9,
raise the defense that the Company has an adequate remedy at law. 
  
 9.6. Special Severability. The
terms and provisions of this Section 9 are intended to be separate and divisible provisions and if, for any reason, any one or more of them is held to be invalid or unenforceable, neither the validity nor the enforceability of any other provision of
this Agreement shall thereby be affected. It is the intention of the parties to this Agreement that the potential restrictions on the Executive’s future employment imposed by this Section 9 be reasonable in both duration and geographic scope
and in all other respects. If for any reason any court of competent jurisdiction shall find any provisions of this Section 9 unreasonable in duration or geographic scope or otherwise, the Executive and the Company agree that the restrictions and
prohibitions contained herein shall be effective to the fullest extent allowed under applicable law in such jurisdiction. 
  
 10. Miscellaneous. 
  
 10.1. Applicable Law. This Agreement shall be
governed by and construed in accordance with the laws of the State of Delaware, applied without reference to principles of conflict of laws. Both the Executive and the Company agree to appear before and submit exclusively to the jurisdiction of the
state and federal courts located within Philadelphia, Pennsylvania with respect to any controversy, dispute, or claim arising out of or relating to this Agreement. The Executive further agrees that the Company may serve you with judicial process via
registered or certified mail and that the General Counsel of the Company shall at all times be the Executive’s agent for service of judicial process, and the Executive hereby appoints the General Counsel of the Company as the Executive’s
agent for that and any other related purpose. 
  
 10.2. Amendments. This Agreement may not be amended
or modified otherwise than by a written agreement executed by the parties hereto or their respective successors and legal representatives. 
  
 10.3. Mutual Intent. Both parties participated in the drafting of the Agreement, and the language used in this Agreement is the language chosen by the Executive and the Company to express their mutual intent.
Both the Executive and the Company agree that in the event that any language, section, clause, phrase or word used in the Agreement is determined to be ambiguous, no presumption shall arise against or in favor of either party and that no rule of
strict construction shall be applied against either party with respect to such ambiguity. 
  
 10.4.
Notices. All notices and other communications hereunder shall be in writing and shall be given by hand-delivery to the other parties or by registered or certified mail, return receipt requested, postage prepaid, addressed as follows:

 
 11 

 
	 
	 To the Company:
 	  	 Mr. Michael Hoffman
 
	 
	  	  	 Chief Executive Officer
 
	 
	  	  	 One Crown Way
 
	 
	  	  	 Philadelphia, PA 19154
 
	 
	 With a copy to Company’s counsel at:
 	  	 Stephen W. Skonieczny, Esq.
 
	 
	  	  	 Dechert
 
	 
	  	  	 30 Rockefeller Plaza
 
	 
	  	  	 New York, New York 10112
 
	 
	 To the Executive:
 	  	 Mr. James C.T. Bolton
 
	 
	  	  	 One Crown Way
 
	 
	  	  	 Philadelphia, PA 19154
 

 
  
 or to such other address as any party shall have furnished to the others in writing in
accordance herewith. Notices and communications shall be effective when actually received by the addressee. 
  
 10.5. Withholding. The Company may withhold from any amounts payable under this Agreement such federal, state or local income taxes to the extent the same required to be withheld pursuant to any applicable law or
regulation. 
  
 10.6. Severability. The invalidity or unenforceability of any provision of this
Agreement shall not affect the validity or enforceability of any other provision of this Agreement. 
  
 10.7.
Captions. The captions of this Agreement are not part of the provisions hereof and shall have no force or effect. 
  
 10.8. Counterparts. This Agreement may be executed in one or more counterparts each of which shall be deemed an original instrument, but all of which together shall constitute but one and the same Agreement.

  
 10.9. Beneficiaries/References. The Executive shall be entitled to select (and change) a
beneficiary or beneficiaries to receive any compensation or benefit payable hereunder following the Executive’s death, and may change such election, in either case by giving the Company written notice thereof. In the event of the
Executive’s death or a judicial determination of his incompetence, reference in this Agreement to the Executive shall be deemed, where appropriate, to refer to his beneficiary(ies), estate or other legal representative(s). 

 
 10.10. Entire Agreement. This Agreement contains the entire agreement between the parties concerning the subject
matter hereof and supersedes all prior agreements, understandings, discussions, negotiations and undertakings, whether written or oral, between the parties with respect thereto. This Agreement shall only become effective upon the closing of the
 

 
 12 

 
IPO and, notwithstanding anything to the contrary herein, if the closing of the IPO does not occur, this Agreement shall be null and void ab initio and of no further legal force or
effect. 
  
 10.11. Representations. 
  
 10.11.1. Option Awards. The Company represents and warrants to the Executive that all shares issued pursuant to any equity award granted to
the Executive by the Company, upon issuance to the Executive, will be duly authorized, fully paid and non-assessable. A sufficient number of shares for each such equity award will be properly reserved. 
  
 10.11.2. Authorization. The Company represents and warrants to the Executive that this Agreement will be
authorized by all necessary action of the Company and will be the binding agreement of the Company, enforceable against it in accordance with the terms thereof. The Company is not prevented from entering into or performing this Agreement by any law,
order, rule or regulation, its certificate of incorporation, bylaws or any agreement to which it is a party. 
  
 10.11.3. Duties of the Employee. The Executive represents and warrants that the performance by Executive of the Executive’s duties and obligations under this Agreement will not violate any agreement between the
Executive and any other person, firm, partnership, corporation or other organization. 
  
 10.12.
Survivorship. The respective rights and obligations of the parties hereunder shall survive any termination of this Agreement or the Executive’s Term of Employment hereunder for any reason to the extent necessary to the
intended provision of such rights and the intended performance of such obligations. 

 
 13 

  
 IN WITNESS WHEREOF, the Executive has hereunto set the Executive’s
hand and the Company has caused this Agreement to be executed in its name on its behalf, all as of the day and year first above written. 
  
 
	 CONSTAR INTERNATIONAL INC. 
 
	 
	 By:
 	 	 MICHAEL HOFFMAN
 

	  	 	 Michael Hoffman
 President and
Chief
 Executive Officer
 
	  	 	  
	 
	  	 	 /s/    JAMES C.T. BOLTON
 

	  	 	 James C.T. Bolton
 

 

 
 14 

 CONSTAR INTERNATIONAL INC. 
  
 EXHIBIT A—GENERAL RELEASE 
  
 IN CONSIDERATION OF the payment of $10.00, and for
other good and valuable consideration, the receipt of which is hereby acknowledged, and in consideration of the terms and conditions contained in the Employment Agreement, dated as of
            , (the “Employment Agreement”) by and between              (the “Employee”)
and Constar International Inc. (the “Company”), the Employee, on behalf of himself and his heirs, executors, administrators, and assigns, releases and discharges the Company and its past present and future subsidiaries, divisions,
affiliates and parents (including without limitation to the foregoing Crown Cork & Seal Company, Inc.), and their respective current and former officers, directors, employees, agents, and/or owners, and their respective successors, and assigns
and any other person or entity claimed to be jointly or severally liable with the Company or any of the aforementioned persons or entities (the “Released Parties”) from any and all manner of actions and causes of action, suits, debts,
dues, accounts, bonds, covenants, contracts, agreements, judgments, charges, claims, and demands whatsoever (“Losses”) which the Employee and his heirs, executors, administrators, and assigns have, had, or may hereafter have, against the
Released Parties or any of them arising out of or by reason of any cause, matter, or thing whatsoever from the beginning of the world to the date hereof, including without limitation, any and all matters relating to the Employee’s employment by
the Company and the cessation thereof, and any and all matters arising under any federal, state, or local statute, rule, or regulation, or principle of contract law or common law, including but not limited to, the Family and Medical Leave Act of
1993, as amended, 29 U.S.C. §§ 2601 et seq., Title VII of the Civil Rights Act of 1964, as amended, 42 U.S.C. §§ 2000e et seq., the Age Discrimination in Employment Act of
1967, as amended, 29 U.S.C. §§ 621 et seq. (the “ADEA”), the Americans with Disabilities Act of 1990, as amended, 42 U.S.C. §§ 12101 et seq., the Worker Adjustment
and Retraining Notification Act of 1988, as amended, 29 U.S.C. §§ 2101 et seq., the Employee Retirement Income Security Act of 1974, as amended, 29 U.S.C. §§ 1001 et seq.,
the Pennsylvania Human Relations Act, as amended, 43 P.S. §§ 955 et. seq., and any other equivalent or similar federal, state, or local statute; provided, however, that the Employee does not release or discharge
the Released Parties from any of the Company’s obligations to him under the Employment Agreement or Losses arising under the ADEA which arise after the date on which the Employee executes this general release. It is understood that nothing in
this general release is to be construed as an admission on behalf of the Released Parties of any wrongdoing with respect to the Employee, any such wrongdoing being expressly denied. 
  
 The Employee represents and warrants that he fully understands the terms of this general release, that he has been encouraged to seek, and has sought, the benefit of advice
of legal counsel, and that he knowingly and voluntarily, of his own free will, without any duress, being fully informed, and after due deliberation, accepts its terms and signs below as his own free act. Except as otherwise provided herein, the
Employee understands that as a result of executing this general release, he will not have the right to assert that the Company or any other of the Released Parties unlawfully terminated his employment or violated any of his rights in connection with
his employment or otherwise. 

 CONSTAR INTERNATIONAL INC. 
  
 The Employee further represents and warrants that he has not filed, and will not initiate, or cause to be initiated on his behalf, any complaint, charge, claim, or proceeding against any of the Released Parties before any
federal, state, or local agency, court, or other body relating to any claims barred or released in this General Release thereof, and will not voluntarily participate in such a proceeding. However, nothing in this general release shall preclude or
prevent the Employee from filing a claim, which challenges the validity of this general release solely with respect to the Employee’s waiver of any Losses arising under the ADEA. Employee shall not accept any relief obtained on his behalf by
any government agency, private party, class, or otherwise with respect to any claims covered by this General Release. 
  
 The Employee may take twenty-one (21) days to consider whether to execute this general release. Upon the Employee’s execution of this general release, the Employee will have seven (7) days after such execution in which he may
revoke such execution. In the event of revocation, the Employee must present written notice of such revocation to             . If seven (7) days pass without receipt of such notice
of revocation, this general release shall become binding and effective on the eighth (8th) day after the execution hereof (the “Effective Date”). 
  
 The Parties shall initial each page of this Agreement 
  
 
	                                      
                                        
                                      
 
 	 	                                      
                                        
                                     
 
	 Execution Date
 	 	  

 
  
 
	 State of
                                
 	  	 }    
 	 	  	  	  	 	  	 	  	 	  	 	  	 	  	 	  	 	  	 	  	 	  	 	  	 	  	 	  	 	  	 	  
	 County of
                            
 	  	 	 ss.:
 	  	  	 	  	 	  	 	  	 	  	 	  	 	  	 	  	 	  	 	  	 	  	 	  	 	  	 	  	 	  

 
  
 On this      day of
             in the year 200     before me, the undersigned, personally appeared
            , personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and acknowledged to
me that he executed the same in his capacity as an individual, and that by his signature on the instrument he executed such instrument, and that such individual made such appearance before the undersigned. 
  
  
                                      
                                        
                                        
                           
 Notary PublicCOLLATERAL SHARING AGREEMENT

  
 Exhibit 10.29 
 Execution Copy 
  
 COLLATERAL SHARING AGREEMENT, dated as of November 20,
2002, among CONSTAR INTERNATIONAL INC., a Delaware corporation (the “Borrower”), the Subsidiaries of the Borrower referred to in Section 5.13 hereof (collectively with the Borrower, the “Grantors”) and CITICORP
NORTH AMERICA, INC., as collateral agent (in such capacity and together with its successors in such capacity, the “Collateral Agent”). 
  
 W I T N E S S E T H: 
  
 WHEREAS, in order to induce the Lenders
parties thereto to enter into that certain credit agreement, dated as of November 20, 2002 (as amended, amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”) among the Borrower,
Citicorp North America, Inc., as administrative agent (in such capacity and together with any successors in such capacity, the “Administrative Agent”) for the Lenders (as defined herein), JP Morgan Chase Bank, as documentation agent
(in such capacity and together with any successor in such capacity, the “Documentation Agent”), SunTrust Bank, as co-documentation agent (in such capacity and together with any successors in such capacity, the
“Co-Documentation Agent”), Deutsche Bank Securities Inc., as syndication agent (in such capacity, and together with any successors in such capacity, the “Syndication Agent”), Salomon Smith Barney Inc. and Deutsche
Bank Securities Inc., as joint lead arrangers and joint bookrunners (in such capacities, and together with any successors in such capacities, the “Arrangers”) and the lending institutions from time to time party thereto (together
with the Administrative Agent, the Documentation Agent and the Arranger in their capacity as a lender, the “Lenders”), the Borrower and certain of its Subsidiaries have entered into the Guarantee Agreement, the Pledge Agreement, the
Security Agreement and the other Security Documents; 
  
 WHEREAS, the Obligations are secured by Liens on the
Collateral described in the Security Documents; 
  
 NOW, THEREFORE, in consideration of the premises and the mutual
agreements set forth herein and to induce the Administrative Agent, the Arranger and the Lenders to enter into the Credit Agreement and to induce the Lenders to make Loans and the Issuing Bank to issue Letters of Credit to the Borrower thereunder,
each Grantor hereby agrees with the Collateral Agent, for the benefit of the Secured Parties, as follows: 

 
 -2- 

 
  
 ARTICLE I 
  
 DEFINED TERMS 
  
 SECTION 1.01.
Definitions. (a) Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit Agreement. 
  
 (b) The following terms shall have the respective meanings set forth below: 
  
 “Agreement” shall mean this Collateral Sharing Agreement as the same may from time to time be amended, supplemented or otherwise modified.

  
 “Collateral” shall mean all property of the Loan Parties, now owned or hereafter
acquired, upon which a Lien is purported to be created by any Security Document. 
  
 “Collateral Account” shall have the meaning assigned in the Security Agreement. 
  
 “Collateral Agent” shall mean Citicorp USA, Inc., in its capacity as collateral agent under the Security Documents and this Agreement and any successor collateral agent appointed hereunder. 
  
 “Collateral Agent Fees” shall mean all fees, costs and expenses of the Collateral Agent of the types
described in Sections 4.02, 4.03, 4.04 and 4.05. 
  
 “Collateral Estate” shall have
the meaning assigned in Section 2.01(c). 
  
 “Distribution Date” shall mean each
date fixed by the Collateral Agent in its sole discretion for a distribution to the Secured Parties of funds held in the Collateral Account. 
  
 “Exchange Rate” shall mean, at any date of determination thereof with respect to any currency, the spot rate of exchange for the conversion of such currency into dollars determined by
reference to such rate publishing service as is customarily utilized by the Collateral Agent for such purpose; provided that, to the extent that “Exchange Rate” is used herein to refer to an actual exchange by the Collateral Agent
of one currency for another, “Exchange Rate” shall be deemed to refer to the rate at which such exchange actually occurs so long as such exchange is effected under customary market conditions. Any such determination of the Exchange Rate
shall be conclusive absent manifest error. 

 
 -3- 

 
  
 “Obligations” shall have the meaning
assigned in the respective Security Documents. 
  
 “Pledgor” shall have the meaning
set forth in the Pledge Agreement and shall refer to the corresponding entities in the other Pledge Agreements. 
  
 “Proceeds” shall mean, collectively, all “proceeds,” as such term is defined in the UCC, and in any event shall include, without limitation, any consideration received from the sale, exchange, license,
lease or other disposition of ownership or control of any asset or property that constitutes Collateral, any value received as a consequence of the possession of any Collateral and any payment received from any insurer or other Person or entity as a
result of the destruction, loss, theft, damage or other involuntary conversion of whatever nature of any asset or property that constitutes Collateral, and shall include (a) all cash and negotiable instruments received by or held on behalf of the
Collateral Agent, (b) any claim of any Grantor against any third party for (and the right to sue and recover for and the rights to damages or profits due or accrued arising out of or in connection with) (i) past, present or future infringement of
any Patent now or hereafter owned by any Grantor, or licensed under a Patent License, (ii) past, present or future infringement or dilution of any Trademark now or hereafter owned by any Grantor or licensed under a Trademark License or injury to the
goodwill associated with or symbolized by any Trademark now or hereafter owned by any Grantor, (iii) past, present or future breach of any License and (iv) past, present or future infringement of any Copyright now or hereafter owned by any Grantor
or licensed under a Copyright License and (c) any and all other amounts from time to time paid or payable under or in connection with any of the Collateral. 
  
 “Secured Parties” shall mean, collectively, the Collateral Agent, the Administrative Agent, the Syndication Agent, the Arrangers, the
Documentation Agent, the Co-Documentation Agent, the Lenders, the Hedging Exchangers (as defined in the Security Agreement) and the Cash Management Exchangers (as defined in the Security Agreement). 
  
 “UCC” shall mean the Uniform Commercial Code as in effect on the date hereof in the State of New York;
provided, that if by reason of mandatory provisions of law, any or all of the attachment, perfection or priority of the Collateral Agent’s and the Secured Parties’ security interest in any item or portion of the Collateral is
governed by the Uniform Commercial Code as in effect in a jurisdiction other than the State of New York, the term “UCC” shall mean the Uniform Commercial Code as in effect on the date hereof in such other jurisdiction for purposes of the
provisions hereof relating to such attachment, perfection or priority and for purposes of definitions relating to such provisions. 

 
 -4- 

 
  
 ARTICLE II 
  
 AUTHORITY OF COLLATERAL AGENT 
  
 SECTION
2.01. General Authority of the Collateral Agent over the Collateral. (a) Each Grantor hereby appoints the Collateral Agent as its true and lawful attorney-in-fact for the purpose of taking any action and executing any and all documents and
instruments that the Collateral Agent may deem necessary or desirable to carry out the terms of this Agreement and the Security Documents and accomplish the purposes hereof and thereof and, without limiting the generality of the foregoing, each
Grantor hereby acknowledges that the Collateral Agent shall have all powers and remedies set forth in the Security Documents. The foregoing grant of authority is a power of attorney coupled with an interest and such appointment shall be irrevocable
for the term hereof. Each Grantor hereby ratifies all that such attorney shall lawfully do or cause to be done by virtue hereof in accordance with the terms of this Agreement and the other Loan Documents. 
  
 (b) By acceptance of the benefits of this Agreement and the Security Documents, each Secured Party shall be deemed irrevocably (i) to
consent to the appointment of the Collateral Agent as its agent hereunder and under the Security Documents, (ii) to confirm that the Collateral Agent shall have the authority to act as the exclusive agent of such Secured Party for enforcement of any
provisions of this Agreement and the Security Documents against any Grantor or the exercise of remedies hereunder or thereunder, (iii) to agree that such Secured Party shall not take any action to enforce any provisions of this Agreement or any
Security Document against any Grantor or to exercise any remedy hereunder or thereunder and (iv) to agree to be bound by the terms of this Agreement and the Security Documents. 
  
 (c) The Collateral Agent hereby agrees that it holds and will hold all of its right, title and interest in, to and under the Security Documents and the Collateral granted
to the Collateral Agent thereunder whether now existing or hereafter arising (all such right, title and interest being hereinafter referred to as the “Collateral Estate”) under and subject to the conditions set forth in this
Agreement; and the Collateral Agent further agrees that it will hold such Collateral Estate for the benefit of the Secured Parties, for the enforcement of the payment of all Obligations (subject to the limitations and priorities set forth herein and
in the respective Security Documents) and as security for the performance of and compliance with the covenants and conditions of this Agreement and each of the Security Documents. 
  
 SECTION 2.02. Right to Initiate Judicial Proceedings. The Collateral Agent (a) shall have the right and power to institute and maintain such suits and proceedings as
it may deem appropriate to protect and enforce the rights vested in it by this Agreement and each Security Document and (b) may, either after entry, or without entry, proceed by suit or suits at law or in equity to enforce such rights and to
foreclose upon the Collateral and to sell
 

 
 -5- 

 
 
all or, from time to time, any of the Collateral under the judgment or decree of a court of competent jurisdiction. 
  
 SECTION 2.03. Right to Appoint a Receiver. Upon the filing of a bill in equity or other commencement of judicial proceedings to enforce the rights of the Collateral
Agent under this Agreement or any Security Document, the Collateral Agent shall, to the extent permitted by law, with notice to the Borrower but without notice to any other Grantor or any party claiming through the Grantors, without regard to the
solvency or insolvency at the time of any Person then liable for the payment of any of the Obligations, without regard to the then value of the Collateral Estate, and without requiring any bond from any complainant in such proceedings, be entitled
as a matter of right to the appointment of a receiver or receivers of the Collateral Estate, or any part thereof, and of the rents, issues, tolls, profits, royalties, revenues and other income thereof, pending such proceedings, with such powers as
the court making such appointment shall confer, and to the entry of an order directing that the rents, issues, tolls, profits, royalties, revenues and other income of the property constituting the whole or any part of the Collateral Estate be
segregated, sequestered and impounded for the benefit of the Collateral Agent and the Secured Parties, and each Grantor irrevocably consents to the appointments of such receiver or receivers and to the entry of such order; provided that,
notwithstanding the appointment of any receiver, the Collateral Agent shall be entitled to retain possession and control of all cash and Permitted Investments held by or deposited with it pursuant to this Agreement or any Security Document.

  
 SECTION 2.04. Exercise of Powers. All of the powers, remedies and rights of the Collateral Agent as set
forth in this Agreement may be exercised by the Collateral Agent in respect of any Security Document as though set forth in full therein and all of the powers, remedies and rights of the Collateral Agent as set forth in any Security Document may be
exercised from time to time as herein and therein provided. 
  
 SECTION 2.05. Remedies Not Exclusive. (a) No
remedy conferred upon or reserved to the Collateral Agent herein or in the Security Documents is intended to be exclusive of any other remedy or remedies, but every such remedy shall be cumulative and shall be in addition to every other remedy
conferred herein or in any Security Document or now or hereafter existing at law or in equity or by statute. 
  
 (b)
No delay or omission by the Collateral Agent to exercise any right, remedy or power hereunder or under any Security Document shall impair any such right, remedy or power or shall be construed to be a waiver thereof, and every right, power and remedy
given by this Agreement or any Security Document to the Collateral Agent may be exercised from time to time and as often as may be deemed expedient by the Collateral Agent. 
  
 (c) If the Collateral Agent shall have proceeded to enforce any right, remedy or power under this Agreement or any Security Document and the proceeding for the en-
 

 
 -6- 

 
 
forcement thereof shall have been discontinued or abandoned for any reason or shall have been determined adversely to the Collateral Agent, then the Grantors, the Collateral Agent and the other
Secured Parties shall, subject to any determination in such proceeding, severally and respectively be restored to their former positions and rights hereunder or thereunder with respect to the Collateral Estate and in all other respects, and
thereafter all rights, remedies and powers of the Collateral Agent shall continue as though no such proceeding had been taken. 
  
 (d) All rights of action and of asserting claims upon or under this Agreement and the Security Documents may be enforced by the Collateral Agent without the possession of any instrument evidencing any Obligation or the production
thereof at any trial or other proceeding relative thereto, and any suit or proceeding instituted by the Collateral Agent shall be, brought in its name as Collateral Agent and any recovery of judgment shall be held as part of the Collateral Estate.

  
 SECTION 2.06. Waiver andEstoppel. (a) Each Grantor agrees, to the extent it may lawfully do so,
that it will not at any time in any manner whatsoever claim, or take the benefit or advantage of, any appraisement, valuation, stay, extension, moratorium, turnover or redemption law, or any law permitting it to direct the order in which the
Collateral shall be sold, now or at any time hereafter in force, which may delay, prevent or otherwise affect the performance or enforcement of this Agreement or any Security Document and hereby waives all benefit or advantage of all such laws and
covenants that it will not hinder, delay or impede the execution of any power granted to the Collateral Agent in this Agreement or any Security Document but will suffer and permit the execution of every such power as though no such law were in
force; provided that nothing contained in this Section 2.06(a) shall be construed as a waiver of any rights of the Grantors under any applicable federal bankruptcy law or state insolvency law. 
  
 (b) Each Grantor, to the extent it may lawfully do so, on behalf of itself and all who may claim through or under it, including without
limitation any and all subsequent creditors, vendees, assignees and licensors, waives and releases all rights to demand or to have any marshaling of the Collateral upon any sale, whether made under any power of sale granted herein or in any Security
Document or pursuant to judicial proceedings or upon any foreclosure or any enforcement of this Agreement or any Security Document and consents and agrees that all the Collateral may at any such sale be offered and sold as an entirety. 

 
 (c) Each Grantor waives, to the extent permitted by applicable law, presentment, demand, protest and any notice of any kind
(except notices explicitly required hereunder or under any Security Document) in connection with this Agreement and the Security Documents and any action taken by the Collateral Agent with respect to the Collateral. 
  
 SECTION 2.07. Limitation on Collateral Agent’s Duty in Respect of Collateral. Beyond its duties as to the custody thereof
expressly provided herein or in any Security
 

 
 -7- 

 
 
Document and to account to the Secured Parties and the Grantors for moneys and other property received by it hereunder or under any Security Document, the Collateral Agent shall not have any duty
to the Grantors or to the Secured Parties as to any Collateral in its possession or control or in the possession or control of any of its agents or nominees, or any income thereon or as to the preservation of rights against prior parties or any
other rights pertaining thereto. 
  
 SECTION 2.08. Limitation by Law. All rights, remedies and powers provided
in this Agreement or any Security Document may be exercised only to the extent that the exercise thereof does not violate any applicable provision of law, and all the provisions hereof are intended to be subject to all applicable mandatory
provisions of law which may be controlling and to be limited to the extent necessary so that they will not render this Agreement invalid, unenforceable in whole or in part or not entitled to be recorded, registered or filed under the provisions of
any applicable law. 
  
 SECTION 2.09. Rights of Secured Parties in Respect of Obligations. Notwithstanding any
other provision of this Agreement or any Security Document, the right of each Secured Party to receive payment of the Obligations held by such Secured Party when due (whether at the stated maturity thereof, by acceleration or otherwise), as
expressed in the instruments evidencing or agreements governing such Obligations or to institute suit for the enforcement of such payment on or after such due date (to the extent suit can be brought without impairing the validity of the Collateral
Agent’s lien), shall not be impaired or affected without the consent of such Secured Party given in the manner prescribed by the instruments evidencing or agreements governing such Obligations. 
  
 ARTICLE III 
  
 DISTRIBUTIONS 
  
 SECTION 3.01. Application of Proceeds. (a) The Collateral Agent shall
have the right at any time to apply the Proceeds received by the Collateral Agent in respect of any sale of, collection from or other realization upon all or any part of the Collateral pursuant to the exercise by the Collateral Agent of its
remedies, together with any other moneys then held by the Collateral Agent in the Collateral Account pursuant to this Agreement, the Security Agreement or any other Security Document, to the payment of due and unpaid Collateral Agent Fees.

  
 (b) All remaining Proceeds received by the Collateral Agent in respect of any sale of, collection from or other
realization upon all or any part of the Collateral pursuant to the exercise by the Collateral Agent of its remedies, together with any other moneys then held by the Collateral Agent in the Collateral Account pursuant to this Agreement, the Secu-
 

 
 -8- 

 
 
rity Agreement or any other Security Document, with respect to the Collateral shall, to the extent available for distribution (it being understood that the Collateral Agent may liquidate
investments prior to maturity in order to make a distribution pursuant to this Section 3.01), be distributed (subject to the provisions of Section 3.02) by the Collateral Agent on each Distribution Date in the following order of priority:

  
 First: (i) to the Collateral Agent for any unpaid Collateral Agent Fees and then (ii) to
any other Secured Party which has theretofore advanced or paid any Collateral Agent Fees constituting administrative expenses allowable under Section 503(b) of the Bankruptcy Code, an amount equal to the amount thereof so advanced or paid by such
Secured Party and for which such Secured Party has not been reimbursed prior to such Distribution Date, and, if such moneys shall be insufficient to pay such amounts in full, then ratably (without priority of any one over any other) to such Secured
Parties in proportion to the amounts of such Collateral Agent Fees advanced by the respective Secured Parties and remaining unpaid on such Distribution Date; 
  
 Second: without duplication of the amounts applied pursuant to clause First above, to any Secured Party which has theretofore advanced or paid
any Collateral Agent Fees other than such administrative expenses, an amount equal to the amount thereof so advanced or paid by such Secured Party and for which such Secured Party has not been reimbursed prior to such Distribution Date, and, if such
moneys shall be insufficient to pay such amounts in full, then ratably (without priority of any one over any other) to such Secured Parties in proportion to the amounts of such Collateral Agent Fees advanced by the respective Secured Parties and
remaining unpaid on such Distribution Date; 
  
 Third: without duplication of the amounts
applied pursuant to clauses First and Second above, to the Secured Parties that are Lenders, in an amount equal to all Obligations (other than the Obligations in respect of the Hedging Agreements and Cash Management Agreements),
whether or not then due and payable, and, if such moneys shall be insufficient to pay such amounts in full, then ratably (without priority of any one over any other) to such Secured Parties in proportion to the unpaid amounts thereof on such
Distribution Date; 
  
 Fourth: without duplication of the amounts applied pursuant to clauses
First, Second and Third above, to the Secured Parties, amounts equal to all Obligations in respect of the Hedging Agreements and Cash Management Agreements then owing to them, whether or not then due and payable, and, if such
moneys shall be insufficient to pay such amounts in full, then ratably to the Secured Parties in proportion to the unpaid amounts thereof on such Distribution Date; and 
  
 Fifth: without duplication of the amounts applied pursuant to clauses First, Second, Third and Fourth above, any surplus
then remaining shall be paid to the Gran-
 

 
 -9- 

 
 
tors or their successors or assigns or to whomsoever may be lawfully entitled to receive the same or as a court of competent jurisdiction may direct. 
  
 In the event that any such proceeds are insufficient to pay in full the items described in clauses First through
Fourth of this subsection 3.01(b), the Grantors shall remain liable for any deficiency. 
  
 (c) The term
“unpaid” as used in clause Third and Fourth of Section 3.01(b) refers: 
  
 (i) in the absence of a bankruptcy proceeding with respect to the relevant Grantor(s), to all amounts of the relevant Obligations outstanding as of a Distribution Date, and 
  
 (ii) during the pendency of a bankruptcy proceeding with respect to the relevant Grantor(s), to all amounts allowed by the bankruptcy court in respect of
the relevant Obligations as a basis for distribution (including estimated amounts, if any, allowed in respect of contingent claims), to the extent that prior distributions have not been made in respect thereof. 
  
 SECTION 3.02. Collateral Agent’s Calculations. In making the determinations and allocations required by Section 3.01, the
Collateral Agent may conclusively rely upon information supplied by the Administrative Agent or any Secured Party as to the amounts of unpaid principal and interest and other amounts outstanding with respect to any Obligations, and the Collateral
Agent shall have no liability to any of the Secured Parties for actions taken in reliance on such information; provided that nothing in this sentence shall prevent any Grantor from contesting any amounts claimed by any Secured Party in any
information so supplied. In addition, for purposes of making the allocations required by Section 3.01 with respect to any amount that is denominated in any currency other than dollars, the Collateral Agent shall, on the applicable Distribution Date,
convert such amount into an amount of dollars based upon the relevant Exchange Rate as of a recent date specified by the Collateral Agent in its reasonable discretion. All distributions made by the Collateral Agent pursuant to Section 3.01 shall be
(subject to any decree of any court of competent jurisdiction) final (absent manifest error), and the Collateral Agent shall have no duty to inquire as to the application by the Administrative Agent of any amounts distributed to it for distribution
to any Lenders. 

 
 -10- 

 
  
 ARTICLE IV 
  
 AGREEMENTS WITH COLLATERAL AGENT 
  
 SECTION 4.01. Information as to Administrative Agent and Other Secured Parties. The Borrower shall deliver to the Collateral Agent, on the date hereof, a list setting forth the aggregate unpaid principal amount of Obligations
outstanding as of the date hereof. 
  
 SECTION 4.02. Compensation and Expenses. Each Grantor agrees to pay to
the Collateral Agent, from time to time upon demand, (a) reasonable compensation (which shall not be limited by any provision of law in regard to compensation of fiduciaries) for its services hereunder and under the Security Documents and for
administering the Collateral Estate and (b) all of the reasonable out-of-pocket costs and expenses of the Collateral Agent (including, without limitation, the reasonable fees and disbursements of its counsel, advisors and agents) (i) arising in
connection with the preparation, execution, delivery, modification, and termination of this Agreement and each Security Document or the enforcement of any of the provisions hereof or thereof, (ii) incurred or required to be advanced in connection
with the administration of the Collateral Estate, the sale or other disposition of Collateral pursuant to any Security Document and the preservation, protection or defense of the Collateral Agent’s rights under this Agreement and the Security
Documents and in and to the Collateral and the Collateral Estate or (iii) incurred by the Collateral Agent in connection with the removal of the Collateral Agent pursuant to Section 5.06(a). Such fees, costs and expenses are intended to constitute
expenses of administration under any bankruptcy law relating to creditors rights generally. The obligations of each Grantor under this Section 4.02 shall survive the termination of the other provisions of this Agreement and the resignation or
removal of the Collateral Agent hereunder. 
  
 SECTION 4.03. Stamp and Other Similar Taxes. Each Grantor
agrees to indemnify and hold harmless the Collateral Agent, the Administrative Agent and each other Secured Party from any present or future claim for liability for any stamp or any other similar tax, and any penalties or interest with respect
thereto, which may be assessed, levied or collected by any jurisdiction in connection with this Agreement, any Security Document, the Collateral Estate or any Collateral. The obligations of each Grantor under this Section 4.03 shall survive the
termination of the other provisions of this Agreement and the resignation or removal of the Collateral Agent hereunder. 
  
 SECTION 4.04. Filing Fees, Excise Taxes, Etc. Each Grantor agrees to pay or to reimburse the Collateral Agent for any and all payments made by the Collateral Agent in respect of all search, filing, recording and registration
fees, taxes, excise taxes and other similar imposts which may be payable or determined to be payable in respect of the execution and delivery of this Agreement and each Security Document. The obligations of each Grantor un-
 

 
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der this Section 4.04 shall survive the termination of the other provisions of this Agreement and the resignation or removal of the Collateral Agent hereunder. 
  
 SECTION 4.05. Indemnification. Each Grantor agrees to pay, indemnify, and hold the Collateral Agent and the Administrative Agent
(and their respective directors, officers, agents and employees) harmless from and against any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses (including, without limitation, the reasonable
fees and expenses of counsel, advisors and agents) or disbursements of any kind or nature whatsoever with respect to the execution, delivery, enforcement, performance and administration of this Agreement and the Security Documents, unless arising
from the gross negligence or willful misconduct of the indemnified party, including for taxes in any jurisdiction in which the Collateral Agent is subject to tax by reason of actions hereunder or under the Security Documents, unless such taxes are
imposed on or measured by compensation paid to the Collateral Agent under Section 4.03. In any suit, proceeding or action brought by the Collateral Agent under or with respect to any contract, agreement, interest or obligation constituting part of
the Collateral for any sum owing thereunder, or to enforce any provisions thereof, the Borrower will save, indemnify and keep the Collateral Agent, the Administrative Agent and the other Secured Parties harmless from and against all expense, loss or
damage suffered by reason of any defense, setoff, counterclaim, recoupment or reduction of liability whatsoever of the obligor thereunder, arising out of a breach by any Grantor of any obligation thereunder or arising out of any other agreement,
indebtedness or liability at any time owing to or in favor of such obligor or its successors from any Grantor, and all such obligations of each Grantor shall be and remain enforceable against and only against each Grantor and shall not be
enforceable against the Collateral Agent, the Administrative Agent or any other Secured Party. The agreements in this Section 4.05 shall survive the termination of the other provisions of this Agreement and the resignation or removal of the
Collateral Agent hereunder. 
  
 SECTION 4.06. Collateral Agent’s Lien. Notwithstanding anything to the
contrary in this Agreement, as security for the payment of Collateral Agent Fees (a) the Collateral Agent is hereby granted a lien upon and security interest in all Collateral and (b) the Collateral Agent shall have the right to use and apply any of
the funds held by the Collateral Agent in the Collateral Account to cover such Collateral Agent Fees. 
  
 SECTION
4.07. Further Assurances. At any time and from time to time, upon the written request of the Administrative Agent or the Collateral Agent, and at the expense of the Borrower, each Grantor will promptly execute and deliver any and all such
further instruments and documents and take such further action as is necessary or reasonably requested further to perfect, or to protect the perfection of, the liens and security interests granted under the Security Documents, including, without
limitation, the filing of any financing or continuation statements under the UCC. In addition to the foregoing, at any time and from time to time, upon the written request of the Collateral Agent, and at the expense of the Borrower, each
 

 
 -12- 

 
 
Grantor will promptly execute and deliver any and all such further instruments and documents and take such further action as the Collateral Agent determines is necessary or reasonably requested
to obtain the full benefits of this Agreement and the Security Documents and of the rights and powers herein and therein granted, including, without limitation, the filing of any financing or continuation statements under the UCC in effect in any
jurisdiction with respect to the liens and security interests granted by the Security Documents. Each Grantor also hereby authorizes the Collateral Agent to sign and file any such financing or continuation statements without the signature of such
Grantor. Notwithstanding the foregoing, in no event shall the Collateral Agent have any obligation to monitor the perfection or continuation of perfection or the sufficiency or validity of any security interest in or related to the Collateral.

  
 ARTICLE V 
  
 MISCELLANEOUS 
  
 SECTION 5.01. Notices. All communications and notices hereunder shall
(except as otherwise expressly permitted herein) be in writing and given as provided in Section 9.01 of the Credit Agreement. All communications and notices hereunder to any Grantor shall be given to it as provided in the relevant Security
Agreement, with a copy to the Borrower. 
  
 SECTION 5.02. Survival of Agreement. All covenants, agreements,
representations and warranties made by any Grantor herein and in the certificates or other instruments prepared or delivered in connection with or pursuant to this Agreement or any other Loan Document shall be considered to have been relied upon by
the Collateral Agent and the other Secured Parties and shall survive the making by the Lenders of the Loans and the issuance of the Letters of Credit by the Issuing Bank, and the execution and delivery to the Lenders of any notes evidencing such
Loans, regardless of any investigation made by the Lenders or on their behalf, and shall continue in full force and effect until this Agreement shall terminate. 
  
 SECTION 5.03. Counterparts. This Agreement may be signed in any number of counterparts with the same effect as if the signatures thereto and hereto were upon the same instrument. 

 
 SECTION 5.04. Successors and Assigns. Whenever in this Agreement any of the parties hereto is referred to, such
reference shall be deemed to include the successors and assigns of such party; and all covenants, promises and agreements by or on behalf of any Grantor or the Collateral Agent that are contained in this Agreement shall bind and inure to the benefit
of their respective successors and assigns. 

 
 -13- 

 
  
 SECTION 5.05. GOVERNING LAW. THIS AGREEMENT SHALL BE CONSTRUED IN
ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK. 
  
 SECTION 5.06. Waivers; Amendment.
(a) No failure or delay of the Collateral Agent in exercising any power or right hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to
enforce such a right or power, preclude any other or further exercise thereof or the exercise of any other right or power. The rights and remedies of the Collateral Agent hereunder and of the other Secured Parties under the other Loan Documents are
cumulative and are not exclusive of any rights or remedies that they would otherwise have. No waiver of any provisions of this Agreement or any other Loan Document or consent to any departure by any Grantor therefrom shall in any event be effective
unless the same shall be permitted by paragraph (b) below, and then such waiver or consent shall be effective only in the specific instance and for the purpose for which given. No notice to or demand on any Grantor in any case shall entitle such
Grantor or any other Grantor to any other or further notice or demand in similar or other circumstances. 
  
 (b)
Neither this Agreement nor any provision hereof may be waived, amended or modified except pursuant to an agreement or agreements in writing entered into by the Collateral Agent and the Grantor or Grantors with respect to which such waiver, amendment
or modification is to apply, subject to any consent required in accordance with Section 9.08 of the Credit Agreement. 
  
 SECTION 5.07. WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION ARISING OUT OF, UNDER OR IN CONNECTION WITH
THIS AGREEMENT OR ANY OF THE OTHER LOAN DOCUMENTS. EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION,
SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS, AS APPLICABLE, BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS
IN THIS SECTION 5.07. 
  
 SECTION 5.08. Severability. In the event any one or more of the provisions contained
in this Agreement should be held invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein shall not
 

 
 -14- 

 
 
in any way be affected or impaired thereby (it being understood that the invalidity of a particular provision in a particular jurisdiction shall not in and of itself affect the validity of such
provision in any other jurisdiction). The parties shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the
invalid, illegal or unenforceable provisions. 
  
 SECTION 5.09. Headings. Article and Section headings used
herein are for the purpose of reference only, are not part of this Agreement and are not to affect the construction of, or to be taken into consideration in interpreting, this Agreement. 
  
 SECTION 5.10. Jurisdiction; Consent to Service of Process. (a) Each Grantor hereby irrevocably and unconditionally submits, for itself and its property, to the
nonexclusive jurisdiction of any New York State court or Federal court of the United States of America sitting in New York City, and any appellate court from any thereof, in any action or proceeding arising out of or relating to this Agreement or
the other Loan Documents, or for recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding may be heard and determined in such
New York State or, to the extent permitted by law, in such Federal court. Each of the parties hereto agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment
or in any other manner provided by law. Nothing in this Agreement shall affect any right that the Collateral Agent or any other Secured Party may otherwise have to bring any action or proceeding relating to this Agreement or the other Loan Documents
against any Grantor or its properties in the courts of any jurisdiction. 
  
 (b) Each Grantor hereby irrevocably and
unconditionally waives, to the fullest extent it may legally and effectively do so, any objection which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Agreement or the other
Loan Documents in any New York State or Federal court referred to in paragraph (c) of this Section. Each of the parties hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance
of such action or proceeding in any such court. 
  
 (c) Each party to this Agreement irrevocably consents to service
of process in the manner provided for notices in Section 5.01. Nothing in this Agreement will affect the right of any party to this Agreement to serve process in any other manner permitted by law. 
  
 SECTION 5.11. Termination. (a) Upon receipt by the Collateral Agent from the Administrative Agent of (i) a written direction to
cause the liens created by Section 4.06 and by the Security Documents to be released and discharged or (ii) a written notice stating that the Credit Agreement has terminated in accordance with the terms thereof, and payment
 

 
 -15- 

 
 
in full of all Collateral Agent Fees, the security interests created by Section 4.06 and by the Security Documents shall terminate forthwith and all right, title and interest of the Collateral
Agent in and to the Collateral shall revert to the Grantors, their successors and assigns. 
  
 (b) Upon the
termination of the Collateral Agent’s security interest and the release of the Collateral in accordance with Section 5.11 (a), the Collateral Agent will promptly, at the Borrower’s written request and expense, (i) execute and deliver to
the Borrower such documents as the Borrower shall reasonably request to evidence the termination of such security interest or the release of the Collateral without recourse or warranty and (ii) deliver or cause to be delivered to the Grantors all
property of the Grantors then held by the Collateral Agent or any agent thereof. 
  
 (c) This Agreement shall
terminate when the security interest granted under the Security Documents has terminated and the Collateral has been released; provided that the provisions of Sections 4.02, 4.03, 4.04 and 4.05 shall not be affected by any such termination.

  
 (d) The Collateral Agent will, at any time, upon the written instruction of the Administrative Agent, at the sole
expense of the relevant Grantor, execute and deliver to the relevant Grantor all releases or other documents reasonably necessary or desirable for the release of the Liens created by the Security Documents on the Collateral without recourse or
warranty specified by the Administrative Agent in such instruction. The Administrative Agent may give such instructions at any time, whether or not at any such time any or all of the Obligations are still outstanding. 
  
 SECTION 5.12. Inspection by Regulatory Agencies. The Collateral Agent shall make available, and shall cause each custodian and
agent acting on its behalf in connection with this Agreement to make available, all Collateral in such Person’s possession at all reasonable times for inspection by any regulatory agency having jurisdiction over a Grantor to the extent required
by such regulatory agency in its discretion. 
  
 SECTION 5.13. Agreement to be Bound. Pursuant to Section 8 of
the Pledge Agreement, Section 7.06 of the Security Agreement and the corresponding provisions of the other Pledge Agreements and Security Agreements, each Subsidiary of the Borrower party to any of such Agreements has agreed to be bound by the terms
of this Agreement and, without limiting the generality of the foregoing, has expressly agreed that all obligations and liabilities of a Grantor hereunder apply to such party with the same force and effect as if such party were a signatory hereto.

  
 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly
executed by their respective authorized officers as of the day and year first written above. 
  
 
	 CONSTAR INTERNATIONAL INC.,
 
	 
	 By:
 	  	 /s/  JAMES C. COOK        
 

	  	  	 Name:  James C. Cook
 Title:  Executive Vice President,
Chief
 Financial Officer and Secretary
 

 
  
 
	 CITICORP NORTH AMERICA, INC.,
 as Collateral Agent
 
	 
	 By:
 	 	 /s/  MYLES KASSIN        
 

	  	 	 Name:  Myles Kassin
 Title:  Vice
President

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