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                                                                   EXHIBIT 10.10

                            SALT HOLDINGS CORPORATION
                  SENIOR EXECUTIVES' DEFERRED COMPENSATION PLAN

          The Salt Holdings Corporation Senior Executives' Deferred Compensation
Plan (the "Plan") has been adopted by Salt Holdings Corporation, a corporation
organized under the laws of the state of Delaware, effective as of the Effective
Date (as hereinafter defined), for the benefit of its eligible employees.

          The Plan is a nonqualified deferred compensation plan pursuant to
which the Company (as hereinafter defined) and its affiliates may defer
compensation on behalf of certain employees. The Plan is maintained primarily
for the purpose of providing deferred compensation for a select group of
management or highly compensated employees, within the meaning of Sections
201(2), 301(a)(3) and 401(a)(1) of the Employee Retirement Income Security Act
of 1974, as amended.

                                   ARTICLE I.
                                   DEFINITIONS

          The following words and phrases used in this Plan shall have the
respective meanings set forth below unless the context clearly indicates to the
contrary. Wherever appropriate herein, words used in the singular shall be
considered to include the plural, words used in the plural shall be considered
to include the singular, and the masculine gender shall be deemed to include the
feminine gender.

          Section 1.1   "ADMINISTRATOR" shall mean the Company acting through
the Board or any Person to whom it delegates its authority pursuant to Article
VI.

          Section 1.2   "AFFILIATE" shall mean with respect to any Person, any
other Person that, directly or indirectly through one or more intermediaries
Controls, is Controlled by, or is under common Control with, such Person and/or
one or more Affiliates thereof. The term "Control" includes, without limitation,
the possession, directly or indirectly, of the power to direct the management
and policies of a Person, whether through the ownership of voting securities, by
contract or otherwise. The term "Affiliate" shall not include at any time any
portfolio companies of Apollo Management V, L.P. or its Affiliates.

          Section 1.3   "BOARD" shall mean the Board of Directors of the
Company.

          Section 1.4   "CLOSING DATE" shall mean the date on which the Proposed
Merger is consummated.

          Section 1.5   "COMMON STOCK" shall mean shares of Company's common
stock, par value $0.01 per share.

          Section 1.6   "COMPANY" shall mean Salt Holdings Corporation, a
Delaware corporation.

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          Section 1.7   "DEFERRAL ELECTION FORM" shall mean the written form or
forms pursuant to which a Participant may elect to make a Retention Bonus
Deferral, a Sales Price Incentive Bonus Deferral and/or a Transferred Deferral,
if any, in accordance with Section 3.1.

          Section 1.8   "DEFERRED COMMON STOCK UNIT" shall mean the right of a
Participant to receive one share of Common Stock as of the Distribution Date in
accordance with Article V.

          Section 1.9   "DEFERRED COMPENSATION ACCOUNT" of a Participant shall
mean the bookkeeping account established on behalf of the Participant in
accordance with Section 3.1.

          Section 1.10  "DEFERRED PREFERRED STOCK UNIT" shall mean the right of
a Participant to receive one share of Preferred Stock as of the Distribution
Date in accordance with Article V.

          Section 1.11  "DISTRIBUTION DATE" shall mean the date on which the
event described in Section 5.1 shall occur.

          Section 1.12  "EFFECTIVE DATE" means the effective date of the Plan
which shall be October 8, 2001.

          Section 1.13  "EXIT EVENT" shall have the meaning set forth in the
Proposed Stock Rights Agreement.

          Section 1.14  "FUND" shall have the meaning set forth in Section 3.4.

          Section 1.15  "INVESTORS" shall mean Apollo Investment Fund V, L.P.,
Apollo Overseas Partners V, L.P., or any investment fund managed by Apollo
Management V, L.P. or any of its Affiliates, and any of their successors and
assigns.

          Section 1.16  "INVESTORS' COMMON STOCK INVESTMENT RATIO" shall mean,
as of the Closing Date, the ratio of (a) the aggregate value as of such date of
shares of Common Stock purchased (directly or indirectly) by the Investors as of
the Closing Date to (b) the sum of (i) the aggregate value as of such date of
shares of Common Stock purchased (directly or indirectly) by the Investors as of
the Closing Date and (ii) the aggregate value as of such date of shares of
Preferred Stock purchased (directly or indirectly) by the Investors as of the
Closing Date.

          Section 1.17  "INVESTORS' COMMON STOCK MERGER CONSIDERATION" shall
mean the merger consideration per share of Common Stock paid by the Investors as
of the Closing Date, subject to appropriate adjustment by the Administrator for
stock splits, stock dividends, combinations and similar transactions.

          Section 1.18  "INVESTORS' PREFERRED STOCK INVESTMENT RATIO" shall
mean, as of the Closing Date, the ratio of (a) the aggregate value as of such
date of shares of Preferred Stock purchased (directly or indirectly) by the
Investors as of the Closing Date to (b) the sum of (i) the aggregate value as of
such date of shares of Common Stock purchased (directly or indirectly) by the

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Investors as of the Closing Date and (ii) the aggregate value as of such date of
shares of Preferred Stock purchased (directly or indirectly) by the Investors as
of the Closing Date.

          Section 1.19  "INVESTORS' PREFERRED STOCK MERGER CONSIDERATION" shall
mean the merger consideration per share of Preferred Stock paid by the Investors
as of the Closing Date, subject to appropriate adjustment by the Administrator
for stock splits, stock dividends, combinations and similar transactions.

          Section 1.20  "PARTICIPANT" shall mean any person included in the Plan
as provided in Article II.

          Section 1.21  "PERSON" shall be construed broadly and shall include,
without limitation, an individual, a partnership, a corporation, an association,
a joint stock company, a limited liability company, a trust, a joint venture, an
unincorporated organization and a governmental entity or any department, agency
or political subdivision thereof.

          Section 1.22  "PLAN" shall mean the Salt Holdings Corporation Senior
Executives' Deferred Compensation Plan, as set forth in this document and as it
may hereafter be amended from time to time.

          Section 1.23  "PREFERRED STOCK" shall mean shares of any class of the
Company's preferred stock issued and outstanding as of the Closing Date.

          Section 1.24  "PROPOSED MERGER" shall mean that certain proposed
merger between (a) the Company or one of its Affiliates and (b) one or more
Affiliates of the Investors.

          Section 1.25  "PROPOSED MERGER AGREEMENT" shall mean the agreement
effectuating the Proposed Merger, as it may be revised or amended from time to
time.

          Section 1.26  "PROPOSED STOCK RIGHTS AGREEMENT" shall mean that
certain Stock Rights Agreement to be entered into in connection with Proposed
Merger, as it may be revised or amended from time to time.

          Section 1.27  "RETENTION AGREEMENT" with respect to any Participant
shall mean the Retention Bonus and Severance Agreement entered into by and
between the Participant and IMC Global Inc., as described on Exhibit A hereto.

          Section 1.28  "RETENTION BONUS DEFERRAL" shall mean the Participant's
retention bonus payment pursuant to the Retention Agreement which the
Participant elects to defer pursuant to Section 2.2 of the Plan.

          Section 1.29  "SALES PRICE INCENTIVE BONUS DEFERRAL" shall mean a
Participant's sales price incentive bonus payment pursuant to the Retention
Agreement which the Participant elects to defer pursuant to Section 2.2 of the
Plan.

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          Section 1.30  "TRANSFERRED DEFERRAL" shall mean the Participant's
balance, if any, as of the Closing Date in (a) the IMC Global, Inc. 1998
Voluntary Nonqualified Deferred Compensation Plan, (b) the IMC Global Inc. 1998
Supplemental Executive Retirement Plan or (c) to the extent permitted by the
Company, any other similar nonqualified deferred compensation plan, in each case
which the Participant elects to defer pursuant to Section 2.2 of the Plan.

          Section 1.31  "TERMINATION OF EMPLOYMENT" shall mean the time when the
employee-employer relationship between the Participant and the Company or any of
its Affiliates is terminated for any reason, with or without good cause,
including, but not by way of limitation, a termination by resignation,
discharge, disability, death or retirement, but excluding transfers among and
between the Company and any Affiliate of the Company.

                                   ARTICLE II.
                                  PARTICIPATION

          Section 2.1   PARTICIPATION. Unless otherwise determined by the
Administrator in its sole discretion, each employee of the Company who, as of
the Effective Date, has entered into a Retention Agreement and is actively
employed by the Company or any of its Affiliates shall be eligible to
participate in the Plan.

          Section 2.2   DEFERRED COMPENSATION. In accordance with the terms set
forth in a Participant's Deferral Election Form, each Participant shall be
entitled to make a Retention Bonus Deferral, a Sales Price Incentive Bonus
Deferral and/or a Transferred Deferral, as applicable, in such amount as is
elected by such Participant in his Deferral Election Form. In the event that a
Participant elects to make (a) a Retention Bonus Deferral and/or Sales Price
Incentive Bonus Deferral, such Participant shall, in accordance with the terms
of his Deferral Election Form, forego the receipt of that portion of his
retention bonus and/or sales price incentive bonus under his Retention Agreement
so elected and instead such Participant's Deferred Compensation Account shall be
credited with Deferred Common Stock Units and/or Deferred Preferred Stock Units
in accordance with the terms of this Plan and/or (b) a Transferred Deferral,
such Participant shall, in accordance with the terms of his Deferral Election
Form, forego the receipt of that portion of the payment of his existing balance
so elected that would have otherwise been payable as of or following the Closing
Date under such applicable nonqualified deferred compensation plan and instead
such Participant's Deferred Compensation Account shall be credited with Deferred
Common Stock Units and/or Deferred Preferred Stock Units in accordance with the
terms of this Plan. Such Retention Bonus Deferral, Sales Price Incentive Bonus
Deferral and/or Transferred Deferral shall be irrevocable and shall be effective
as of the Closing Date.

                                  ARTICLE III.
                                  PARTICIPATION

          Section 3.1   DEFERRED COMPENSATION ACCOUNTS

          (a) The Administrator shall establish and maintain for each
Participant a Deferred Compensation Account to which shall be (i) credited the
amounts determined under Section

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3.1(b), (ii) credited amounts determined under Section 4.2 and (iii) debited the
amount of any distributions under the Plan.

          (b) As of the Closing Date, each Participant's Deferred Compensation
Account shall be credited with the amount of his Retention Bonus Deferral, Sales
Price Incentive Bonus Deferral and/or Transferred Deferral. Notwithstanding any
other provision of this Plan, no amount shall be credited to any Participant's
Deferred Compensation Account prior to the Closing Date.

          Section 3.2   DESIGNATION OF BENEFICIARY. Each Participant shall have
the right to designate, revoke and redesignate beneficiaries hereunder and to
direct payment of the amount or distribution of the items credited to his
Deferred Compensation Account to such beneficiaries upon his death. Designation,
revocation and redesignation of beneficiaries shall be made on such form as
shall be designated by the Administrator and shall be effective upon delivery to
the Administrator.

          Section 3.3   ASSIGNMENTS PROHIBITED. No part of a Participant's
Deferred Compensation Account shall be liable for the debts, contracts or
engagements of any Participant, his beneficiaries or successors in interest, or
be taken in execution by levy, attachment or garnishment or by any other legal
or equitable proceeding, nor shall any such person have any rights to alienate,
anticipate, commute, pledge, encumber or assign any benefits or payments
hereunder in any manner whatsoever except to designate a beneficiary as provided
herein.

          Section 3.4   FUND. The Administrator, in its discretion, may elect to
establish a fund (the "FUND") containing assets equal to the amounts credited to
Participants' Deferred Compensation Accounts, and may elect in its discretion to
designate a trustee to hold the Fund in trust; provided, however, that such Fund
shall remain a general asset of the Company subject to the rights of creditors
of the Company in the event of the Company's bankruptcy or insolvency as defined
in any such trust.

                                   ARTICLE IV.
                               DEEMED INVESTMENTS

          Section 4.1   DEFERRED STOCK UNITS. Unless otherwise determined by the
Administrator in its reasonable discretion, as of the Closing Date each
Participant's Deferred Compensation Account shall be deemed to be invested in:

          (a) That number of Deferred Common Stock Units equal to the ratio of
(i) the product of (A) the sum of such Participant's (I) Retention Bonus
Deferral, (II) Sales Price Incentive Bonus Deferral and (III) Transferred
Deferral and (B) the Investors' Common Stock Investment Ratio to (ii) the
Investors' Common Stock Merger Consideration; and

          (b) That number of Deferred Preferred Stock Units equal to the ratio
of (i) the product of (A) the sum of such Participant's (I) Retention Bonus
Deferral (II) Sales Price Incentive Bonus Deferral and (III) Transferred
Deferral and (B) the Investors' Preferred Stock Investment Ratio to (ii) the
Investors' Preferred Stock Merger Consideration.

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          Section 4.2   DIVIDEND EQUIVALENTS. As of the date the Company pays
any dividend (whether in cash or in kind) on shares of Common Stock or Preferred
Stock, each Participant's Deferred Compensation Account shall be credited with:

          (a) That number of Deferred Common Stock Units equal to the ratio of
(i) the aggregate value of the dividend that would have been payable on the
Deferred Common Stock Units held by the Participant immediately prior to such
payment date had the shares of Common Stock represented by such Deferred Common
Stock Units been outstanding as of such payment date to (ii) the fair market
value per share of Common Stock as of such date (determined in accordance with
the terms of the Participant's Investor Rights Agreement with the Company); and

          (b) That number of Deferred Preferred Stock Units equal to the ratio
of (i) the aggregate value of the dividend that would have been payable on the
Deferred Preferred Stock Units held by the Participant immediately prior to such
payment date had the shares of Preferred Stock represented by such Deferred
Preferred Stock Units been outstanding as of such payment date to (ii) the fair
market value per share of Preferred Stock as of such date (determined in
accordance with the terms of the Participant's Investor Rights Agreement with
the Company).

          Section 4.3   FORFEITURE. Notwithstanding any other provision of the
Plan (a) a Participant's Retention Bonus Deferral shall be forfeited if, and to
the extent that, such Participant would not have been entitled to receive either
(i) a Retention Bonus pursuant to Section 1 of his Retention Agreement or (ii)
Severance payments pursuant to Section 2 of his Retention Agreement and (b) a
Participant's Sales Price Incentive Bonus Deferral shall be forfeited if, and to
the extent that, such Participant would not have been entitled to receive a
Sales Price Incentive Bonus pursuant to Section 1 of his Retention Agreement.

          Section 4.4   NON-CONSUMMATION OF PROPOSED MERGER. Notwithstanding any
other provision of the Plan (a) in the event that the Proposed Merger Agreement
is not fully executed by the parties thereto on or prior to December 31, 2001,
the Plan will terminate as of December 31, 2001 and (b) in the event that the
Proposed Merger Agreement is terminated in accordance with its terms prior to
the Closing Date, the Plan will terminate as of the effective date of such
termination, and in each such case all Retention Bonus Deferrals, Sales Price
Incentive Bonus Deferrals and Transferred Deferrals shall become void and of no
effect as of the date of Plan termination.

                                   ARTICLE V.
                                    BENEFITS

          Section 5.1   TIME OF DISTRIBUTION. Each Participant's Deferred
Compensation Account, to the extent not previously forfeited pursuant to Section
4.3, shall be distributed to the Participant (or his beneficiaries, as
applicable), less any amounts required to be withheld by applicable law, upon
(or as soon as reasonably practicable following) the earlier to occur following
the Closing Date of (a) the Participant's Termination of Employment or (b) an
Exit Event.

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          Section 5.2   FORM OF DISTRIBUTION. With respect to Deferred Common
Stock Units, all distributions from the Plan shall be made in the form of whole
shares of Common Stock with fractional shares credited to federal income taxes
withheld. With respect to Deferred Preferred Stock Units, all distributions from
the Plan shall be made in the form of whole shares of Preferred Stock with
fractional shares credited to federal income taxes withheld. Notwithstanding any
other provision of the Plan, unless otherwise determined by the Administrator,
no share of Common Stock or Preferred Stock shall be issued to any Participant
(or his beneficiaries, applicable) under this Plan unless and until such
Participant has entered into an Investor Rights Agreement with the Company.

                                   ARTICLE VI.
                            ADMINISTRATIVE PROVISIONS

          Section 6.1   ADMINISTRATOR'S DUTIES AND POWERS

          (a)   The Board shall conduct the general administration of the Plan
in accordance with the Plan and shall have full discretionary power and
authority to carry out that function. Among its necessary powers and duties, are
the following:

                (i)   To delegate all or part of its function as Administrator
to others and to revoke any such delegation.

                (ii)  To determine questions of eligibility and vesting of
Participants and their entitlement to benefits.

                (iii) To select and engage attorneys, accountants, actuaries,
trustees, appraisers, brokers, consultants, administrators, physicians or other
persons to render service or advice with regard to any responsibility the
Administrator or the Board has under the Plan, or otherwise, to designate such
persons to carry out responsibilities, and (with the Company, the Board and its
officers, trustees and employees) to rely upon the advice, opinions or
valuations of any such persons, to the extent permitted by law, being fully
protected in acting or relying thereon in good faith.

                (iv)  To interpret the Plan for purpose of the administration
and application of the Plan, in a manner not inconsistent with the Plan or
applicable law and to amend or revoke any such interpretation.

                (v)   To adopt Rules of the Plan that are not inconsistent with
the Plan or applicable law and to amend or revoke any such rules.

          (b)   Every finding, decision, and determination made by the
Administrator shall, to the full extent permitted by law, be final and binding
upon all parties, except to the extent found by a court of competent
jurisdiction to be unreasonable.

          Section 6.2   INDEMNIFICATION BY THE COMPANY; LIABILITY INSURANCE

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          (a) The Company shall pay or reimburse any of the Company's officers,
directors or employees who administer the Plan for all expenses incurred by such
persons in, and shall indemnify and hold them harmless from, all claims,
liability and costs (including reasonable attorneys' fees) arising out of the
good faith performance of their Plan functions.

          (b) The Company may obtain and provide for any such person, at the
Company's expense, liability insurance against liabilities imposed on him by
law.

          Section 6.3   LIMITATIONS UPON POWERS. The Plan shall be uniformly and
consistently administered, interpreted and applied with regard to all
Participants in similar circumstances. The Plan shall be administered,
interpreted and applied fairly and equitably in accordance with the specified
purposes of the Plan.

          Section 6.4   RECORDKEEPING

          (a) The Administrator shall maintain suitable records as follows: (i)
records of each Participant's individual Deferred Compensation Accounts, (ii)
records which show the operations of the Plan, and (iii) records of its
deliberations and decisions.

          (b) The Administrator may appoint a secretary to keep the record of
proceedings, to transmit its decisions, instructions, consents or directions to
any interested party, to execute and file, on behalf of the Administrator, such
documents, reports or other matters as may be necessary or appropriate under
applicable law to perform ministerial acts.

          (c) The Administrator shall not be required to maintain any records or
accounts which duplicate any records or accounts maintained by the Company.

          Section 6.5   SERVICE OF PROCESS. The Secretary of the Company is
hereby designated as agent of the Plan for the service of legal process.

          Section 6.6   SERVICE IN MORE THAN ONE CAPACITY. Any person or group
of persons may serve in more than one capacity with respect to the Plan.

          Section 6.7   STATEMENT TO PARTICIPANTS. The Administrator shall from
time to time in its discretion furnish to each Participant a statement setting
forth the value of his Deferred Compensation Accounts and such other information
as the Administrator shall deem advisable to furnish.

          Section 6.8   CORPORATE CHANGES. If the Company at any time (a)
increases or decreases proportionately to all holders of shares of its Common
Stock or Preferred Stock then outstanding, whether by stock dividend, stock
split, consolidation of shares, or (b) otherwise effectuates any change in the
capitalization of the Company, then all Deferred Common Stock Units and/or
Deferred Preferred Stock Units theretofore credited and unforfeited shall be
equitably adjusted with respect to the number of shares of such Common Stock or
Preferred Stock, as applicable, represented thereby (or exchanged for a right to
receive another class or kind of securities of the

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Company) in such manner as shall be determined in good faith by the
Administrator in its sole discretion.

                                  ARTICLE VII.
                            MISCELLANEOUS PROVISIONS

          Section 7.1   AMENDMENT OF PLAN. Except as may otherwise be prohibited
by applicable law, the Plan may be wholly or partially amended by the
Administrator from time to time including retroactive amendments; provided,
however, that no amendment shall decrease the non-forfeitable interest any
Participant or any other person entitled to payment under the Plan has in the
Participant's Deferred Compensation Accounts without such Participant's written
approval.

          Section 7.2   ERRORS AND MISSTATEMENTS. In the event of any
misstatement or omission of fact by a Participant to the Administrator or any
clerical error resulting in payment of benefits in an incorrect amount, the
Administrator shall promptly cause the amount of future payments to be corrected
upon discovery of the facts and shall pay the Participant or any other person
entitled to payment under the Plan any underpayment in cash in a lump sum or to
recoup any overpayment from future payments to the participant or any other
person entitled to payment under the Plan in such amounts as the Administrator
shall direct or to proceed against the Participant or any other person entitled
to payment under the Plan for recovery of any such overpayment.

          Section 7.3   GOVERNING LAW. This Plan shall be construed,
administered and governed in all respects under and by applicable federal laws
and, where state law is applicable, the laws of the State of Delaware.

          Section 7.4   TAX WITHHOLDING. During the time a Participant is
employed with the Company, the Company shall deduct from such Participant's
wages any amounts required to be withheld by the Company with respect to the
accrual of a Participant's benefits hereunder. Further, there shall be deducted
from each payment of a Participant's Benefits under the Plan any taxes required
to be withheld by the Company in respect of such payment. The Company shall have
the right to reduce any payment by an amount sufficient to pay said taxes. In
lieu of a deduction, the Committee may permit the Participant to pay or
reimburse the Company for said taxes.

          Section 7.5   LIMITATION ON RIGHTS OF EMPLOYEES. The Plan is strictly
a voluntary undertaking on the part of the Company and shall not constitute a
contract of employment between the Company and any Participant. Nothing
contained in the Plan shall give any Participant the right to be retained in the
service of the Company or to interfere with or restrict the right of the
Company, which is hereby expressly reserved, to discharge or retire any
Participant, except as provided by law, at any time without notice and with or
without cause. Inclusion under the Plan will not give any Participant any right
or claim to any benefit hereunder except to the extent such right has
specifically become fixed under the terms of the Plan. The doctrine of
substantial performance shall have no application to Participants or any other
persons entitled to payments under the Plan.

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          Section 7.6   PAYMENT ON BEHALF OF MINORS. In the event any amount
becomes payable under the Plan to a minor or a person who, in the sole judgment
of the Administrator is considered by reason of physical or mental condition to
be unable to give a valid receipt therefor, the Administrator may direct that
such payment be made to any person found by the administrator in its sole
judgment, to have assumed the care of such minor or other person. Any payment
made pursuant to such determination shall constitute a full release and
discharge of the Company, the Board, the Administrator, and their officers,
directors and employees.

          Section 7.7   REFERENCES. Unless the context clearly indicates to the
contrary, a reference to a statute, regulation or document shall be construed as
referring to any subsequently enacted, adopted or executed statute, regulation
or document.

          Section 7.8   TERMINATION OF THE PLAN. While the Plan is intended as a
permanent program, the Board shall have the right at any time to declare the
Plan terminated completely as to the Company or as to any division, facility or
other operational unit thereof. In the event of any termination, the
Administrator shall continue to maintain Participants' Deferred Compensation
Accounts (in accordance with the terms of the Plan) and payment of such Deferred
Compensation Accounts shall be made in accordance with Article V.

          Section 7.9   EFFECT UPON OTHER PLANS. Except to the extent provided
herein, nothing in this Plan shall be construed to affect the provisions of any
other plan maintained by the Company.

          Section 7.10  TITLES. Titles are provided herein for convenience only
and are not to serve as a basis for interpretation or construction of the Plan.

          Section 7.11  ENFORCEMENT. In the event the Company or any Participant
institutes litigation to enforce or protect its rights under the Plan, the party
prevailing in any such litigation shall be paid by the non-prevailing party, in
addition to all other relief, all reasonable attorneys' fees, out-of-pocket
costs and disbursements relating to such litigation.

                                    * * * * *

          IN WITNESS WHEREOF, the Company has caused this instrument to be
executed effective as of the date first above written.

                                           SALT HOLDINGS CORPORATION

                                           By
                                             ------------------------------
                                           Its
                                              -----------------------------

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                                                                   EXHIBIT 10.11

                             [GRAPHIC REMOVED HERE]

                               SALT UNION LIMITED

  3 Kings Court . Manor Farm Road . Manor Park . Runcorn . Cheshire . England .
                 WA7 1HR . Tel: 01928 579679 . Fax: 01928 579432

                            DATED 1st SEPTEMBER 1997

                               SALT UNION LIMITED

                                     - and -

                                  DAVID GOADBY

                                SERVICE AGREEMENT

  Registered in England No 2654529 Registered Office: 3 Kings Court Manor Farm
                 Road Manor Park Runcorm Cheshire England WA71HR
                      A member of the HARRIS CHEMICAL GROUP

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THIS AGREEMENT is made the 1st SEPTEMBER 1997 BETWEEN:

(1)  Salt Union Limited whose registered office is situate at 3 Kings Court,
     Manor Farm Road, Manor Park, Runcorn, Cheshire, WA7 IHR and registered
     number is 2654529 (hereinafter called "the Company");

and

(2)  David John Goadby of 7 Gorse Close, Norley, Near Warrington, Cheshire, WA6
     8PY (hereinafter called "the Executive").

NOW IT IS HEREBY AGREED as follows:

1.      DEFINITIONS

In this Agreement:

        "Associated Company"                 means a company which is from time
                                             to time a subsidiary or a holding
                                             company (as those expressions are
                                             defined by Section 736 of the
                                             Companies Act 1985) of the Company
                                             or a subsidiary (other than the
                                             Company) of a holding company of
                                             the Company and the expression
                                             "Associated Companies" shall be
                                             construed accordingly;

        "Board"                              means the Board of Directors from
                                             time to time of the Company;

        "Collective Investment Scheme"       means collective investment scheme
                                             as defined in Section 75 of the
                                             Financial Services Act 1986;

        "Control"                            means the holding of 51 per cent or
                                             more of the issued voting share
                                             capital of the Company or
                                             Associated Company;

        "Employment"                         means the employment established by
                                             this Agreement:

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        "Parent"                             Harris Chemical Group Inc

2.      APPOINTMENT AND TERM

2.1     The Company shall employ the Executive and the Executive shall serve the
        Company as Managing Director.

2.2     The Executive's employment shall be deemed to have commenced on the
        signing of this Agreement and shall continue (subject to the provisions
        of clause 2.3 and to the provisions for earlier determination
        hereinafter contained) unless and until terminated by either the Company
        giving to the Executive not less than twelve months prior notice in
        writing or by the Executive giving to the Company not less than three
        months prior notice in writing.

2.3     If the Executive's employment terminates:
        (i)      by reason of the liquidation of the Company for the purposes
                 of amalgamation or reconstruction; or
        (ii)     as part of any arrangement for the amalgamation of the
                 undertaking of the Company not involving liquidation; or
        (iii)    as part of any arrangement for the transfer of the whole or
                 part of the undertaking of the Company to an Associated
                 Company;
        and the Executive is offered employment as Managing Director of any
        undertaking from such amalgamation or reconstruction by events described
        at (a) (b) or (c) above at a location in North West England or otherwise
        as is mutually agreeable to both the Executive and the Company on terms
        which, when taken as a whole, are no less favourable to the Executive
        than the terms of the Executive's Employment, the Executive will have no
        claim against the Company or any Associated Company, in respect of the
        termination of the Executive's employment by reason of the events
        described in (a) (b) or (c) of this clause.

2.4     In the event that a company acquires control of the Company, the
        Executive will be entitled to terminate this Agreement with immediate
        effect and upon such termination the Company shall compensate the
        Executive by paying him as liquidated damages in full and final
        settlement of any claims which he has against the Company by reason of
        the termination of this Agreement a sum equivalent to basic salary, the
        value of the

                                        3
<Page>

        Executive's Company Car and Medical Insurance calculated over a twelve
        month period (less such tax and National Insurance contributions as may
        be properly deducted therefrom) at the rate to which the Executive shall
        have been entitled immediately prior to that termination. The value of
        the Executive's benefits in kind should be assessed on the Inland
        Revenue agreed scale then prevailing.

2.5     Any payment to the Executive on determination of this Agreement (whether
        accrued salary, holiday pay or otherwise) shall have deducted at source
        by the Company any income tax or employees National Insurance
        contributions which the Company is obliged to deduct.

3.      DUTIES

3.1     The Executive's duties shall be those of Managing Director. The Board
        may from time to time impose on or assign to the Executive such
        reasonable duties as it may determine, provided always that such duties
        shall be commensurate with the Executive's position and status. The
        Executive shall devote the whole of his time and attention, abilities
        and skill during working hours to carrying out his duties, shall
        faithfully, efficiently and diligently perform such duties to promote
        the best interests of the Company and any Associated Company and for
        that purpose shall exercise such powers consistent with the office to
        which he is appointed and also such powers as may from time to time be
        conferred on him by the Board.

        Further the Executive accepts that the Board may due to urgent business
        requirements require him to perform other duties or tasks not within the
        scope of his normal duties and the Executive agrees to perform those
        duties or undertake those tasks as if they were specifically required
        under this Agreement.

3.2     The Executive shall obey the reasonable and lawful restrictions,
        directions, rules or the regulations given to him by the Company or from
        time to time established or laid down by the Company concerning its
        employees.

3.3     The Executive shall at all times promptly give to the Company (in
        writing if so requested) all such information and explanations as it may
        require in connection with matters relating to the Employment or with
        the business of the Company or any Associated Company.

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<Page>

3.4     In pursuance of his duties hereunder the Executive shall, if so required
        by the Company and without further remuneration therefor, perform such
        reasonable services for any Associated Company as the Company may
        reasonably require from time to time, and shall act as director, officer
        or employee of such Associated Company and carry out such reasonable
        duties upon such appointment as if they were duties to be performed by
        him on behalf of the Company under this Agreement provided in each case
        that such services or duties are commensurate with the Executive's
        position and status.

3.5     If the Executive is given notice under Clause 2.2 above the Company
        shall be under no obligation to vest in or assign to the Executive any
        powers or duties or to provide any work for the Executive, and the
        Company may at any time or from time to time suspend the Executive from
        the performance of his duties or exclude him from any premises of the
        Company, but salary will not cease to be payable by reason only of the
        suspension or exclusion of the Executive and the Executive will continue
        to receive all other benefits (unless and until the Employment shall be
        terminated under any provision of this Agreement).

4.      TRAVEL AND RESIDENCE

The Executive shall, if and for so long as he is so required by the Company and
without any further remuneration therefor other than is herein mentioned,
perform his duties at the Company's premises at 3 Kings Court, Manor Farm Road,
Manor Park, Runcorn, Cheshire, WA7 1HR and elsewhere in North West England or
such other locations as shall be mutually agreeable to both the Executive and
the Company, and in the course of his employment the Executive may be expected
to travel (from time to time) both within and outside the United Kingdom.

5.      HOURS

The Executive shall work such hours as are necessary in order to fulfill
properly his duties and shall be entitled to no further remuneration from work
performed outside his normal working hours.

                                        5
<Page>

6.      NON-COMPETITION

Save with the written consent of the Board, the Executive shall not during the
continuance of this Agreement be engaged or interested either directly or
indirectly in any business other than that of the Company or any Associated
Company to which his duties shall be extended. Nothing in this clause shall
preclude the Executive from being the holder of shares or other securities in
any company which are quoted, listed or otherwise dealt in on a recognised stock
exchange or other securities market and which confer not more than 1 per cent of
the votes which could be cast at a general meeting of the company concerned
unless the Board shall require him not to do so in any particular case on the
ground that such company is or may be carrying on a business competing or
tending to compete with the business of the Company or any Associated Company
nor shall anything in this clause preclude the Executive from investing in the
units of any Collective Investment Scheme or business expansion scheme or
similar fund.

7.      CONFIDENTIAL INFORMATION

7.1     The Executive shall not either during the continuance of this Agreement
        or thereafter for so long as the same is not commonly known in the trade
        (except through breach by the Executive of this obligation of
        confidence) other than for the benefit of the Company or any Associated
        Company use or reveal to any person any of the trade secrets, secret or
        confidential operations, processes or dealings or any other confidential
        information concerning the Company or any Associated Company or any
        client or customer of the Company or any Associated Company including
        (but without limiting the generality of the foregoing) any information
        or knowledge relating to any other business carried on or under
        investigation by the Company and/or any Associated Company, its
        manufacturing plans, processes of manufacture, ideas, inventions, know
        how, techniques, designs, researches, prices, products, markets,
        marketing, business strategies or suppliers where such information or
        knowledge was obtained by him whilst in the employ of the Company or any
        Associated Company.

7.2     The foregoing obligation of confidence shall not apply to any disclosure
        to the officials of the Company whose province it is to know the same,
        or where the Executive is ordered so to do by a court of competent
        jurisdiction or by the direction of the Company or is required to do so
        by law.

                                        6
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8.      COMPANY PROPERTY

All documents, papers, correspondence, notes, memoranda, records (which shall
include information recorded or stored in writing and also information recorded
and stored upon magnetic tape or disc or otherwise recorded or stored for
reproduction whether by mechanical or electronic means and whether or not such
reproduction will result in a permanent record thereof being made) and writings
made by the Executive relative to the business of the Company or any Associated
Company or which have come into his possession in the course of the Employment,
shall be and remain the property of the Company or the Associated Company (as
the case may be), shall be kept in safe custody by the Executive and shall be
handed over by the Executive to the Company or the Associated Company (as the
case may be) together with any other property of whatever nature of the Company
or any Associated Company on demand with the exception of the motor car referred
to and subject to the provisions of clause 11 below and in any event on leaving
the service of the Company the Executive shall not keep any copies thereof.

9.      REMUNERATION

9.1     During the Employment the Company shall pay to the Executive:

        9.1.1    a salary at the rate of (pound)81,600 pounds per annum (or at
                 such other rate as the parties hereto shall from time to time
                 agree) payable by equal calendar monthly installments in
                 arrears on the twenty-fifth day of each month and accruing from
                 day to day;

        9.1.2    such bonuses or additional remuneration (if any) as the Board
                 may from time to time determine provided always that the
                 Executive shall be entitled to participate in a bonus scheme on
                 terms notified to him from time to time by the Company save
                 that the Company may at any time discontinue the operation or
                 payment of any such bonus scheme by giving not less than three
                 months prior notice in writing of such discontinuance.

9.2     Regardless of anything to the contrary contained in the Articles of
        Association of the Company or any Associated Company, the Executive
        shall not be entitled to any other remuneration whether as an ordinary,
        executive or local director of the Company or any Associated Company or
        otherwise and the Executive shall, as the Company may direct,

                                        7
<Page>

        either effectually waive his right to any such remuneration or shall
        account for and pay over the same to the Company immediately he receives
        it; and

9.3     The rate of the salary specified in sub-clause 9.1.1 of this clause
        shall be reviewed annually on 1 April.

10.     EXPENSES

The Company shall (on production of satisfactory receipts if requested)
reimburse or cause to be reimbursed to the Executive all reasonable travel,
hotel, entertaining and other out-of-pocket expenses properly, wholly and
necessarily incurred by him, or which he may from time to time be authorised to
incur, in the performance of his duties under this Agreement and such expenses
shall be presented to the Company's Chief Financial Officer for his signature
and approval before payment is made to the Executive. Any credit card supplied
to the Executive by the Company shall be used solely for expenses properly,
wholly and necessarily incurred by him or as may have been authorised in the
course of the Employment and such credit card shall be returned immediately on
demand to the President of the Parent Company and in any event on the
termination for whatever reason of the Employment.

11.     CAR

11.1    The Company shall, during the continuance of the Employment (subject to
        his being fully qualified to drive), provide for the Executive subject
        to the Company's insurance policy rules, a motor car of a type as
        specified in the Company's present car policy and shall renew or replace
        the same from time to time in accordance with the Company's policy from
        time to time relating to the provision of motor cats. The Company shall
        bear the cost of insuring (but not any increase in insurance premiums
        occasioned solely by reason of the conviction of the Executive for any
        offence) testing, taxing, repairing (subject as provided below) and
        maintaining and running the same.

11.2    The Executive shall:

        11.2.1   take good care of the car and procure that the provisions and
                 conditions of any policy of insurance relating thereto are
                 observed;

        11.2.2   not permit such car to be taken out of the United Kingdom
                 without the written consent of the Company; and

                                        8
<Page>

        11.2.3   return the car and its keys to the Chief Financial Officer of
                 the Company immediately upon the Executive ceasing to hold a
                 valid full driving license and in any event on termination for
                 whatever reason of the Employment.

12.     HOLIDAYS

12.1    The Executive shall be entitled to twenty-six working days holiday with
        pay in each year to be taken at such time or times, as the Board may
        approve in addition to the normal statutory, bank and other public
        holidays for the time being recognised by the Company. The holiday year
        runs from 1st January to 31st December. Holidays not taken in any such
        year or by the determination of this Agreement will be lost and the
        Executive will not be entitled to any accrued holiday pay or pay in lieu
        of holiday except on termination of the employment.

12.2    If the Executive shall serve under this Agreement during part only of a
        calendar year, he shall be entitled to 2 working days holiday in respect
        of each full calendar month served.

12.3    Upon termination of this Agreement for whatever reason whether lawful or
        unlawful, the Executive should be entitled to a payment in lieu on a
        pro-rata basis for any holidays not taken which have accrued in a
        calendar year then current. This payment shall be calculated by
        multiplying the accrued entitlement of 1/260 of the Executive's salary
        at the time.

12.4    Similarly if at the date of termination of the employment the Executive
        should have taken more holiday than has accrued the Company may make
        deductions for the appropriate amount from any accrued salary. This
        deduction shall be calculated in accordance with the formula set out in
        Clause 12.3 above.

13.     SICKNESS

13.1    If the Executive shall during the Employment be prevented by illness,
        accident or injury from performing his duties hereunder, he shall be
        entitled (subject to production of medical certificates satisfactory to
        the Company if requested) to receive for a period of 26 weeks in any
        twelve month period his salary at the rate specified in Clause 9.1.1
        hereof (less any statutory sick pay).

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<Page>

13.2    The Executive will, if required by the Company, whether in connection
        with absence through illness, accident or injury or generally in
        connection with the Employment, at the Company's expense present himself
        for a medical examination by a doctor selected by the Company, a copy of
        whose report shall be available on request to the Executive.

14.     INVENTIONS

14.1    In view of his position as Managing Director and the duties thereby
        entailed and the responsibilities arising from the nature of such duties
        the Executive shall have a special obligation to further the interests
        of the Company. Accordingly, if at any time during the Employment, the
        Executive shall make or discover any invention, development,
        improvement, process or secret whether alone or in conjunction with any
        other person, firm or company which (whether the subject of letters
        patent or not) shall relate to or concern any of the products or methods
        of production of the Company or any Associated Company whether in exile
        or planned or merely contemplated (referred to as an "Invention") then:

        14.1.1   the Executive shall forthwith in writing communicate full
                 details thereof including (without prejudice to the generality
                 of the foregoing) all necessary plans and models to the Board
                 or as the Board may direct;

        14.1.2   any such Invention made or discovered by the Executive, or his
                 share therein if made or discovered jointly, shall insofar as
                 it relates to or concerns the business of the Company or any
                 Associated Company belong to and be the absolute property of
                 the Company;

        14.1.3   all information relating to an Invention shall be regarded as
                 confidential and accordingly the provisions of clause 7 hereof
                 shall apply thereto (as well after as before any registration
                 or application to register any patent in respect of such
                 Invention);

        14.1.4   at the request of the Company (whether during the continuance
                 of the Employment or thereafter) the Executive shall at the
                 expense of the Company as part of his duties join with and
                 assist the Company or any nominee of the Company in obtaining
                 and/or renewing letters patent, design and/or trade mark
                 registrations or other like protection in such countries as the
                 Board may direct for

                                       10
<Page>

                 the Invention and shall execute such deeds and documents and
                 carry out such acts as may be necessary for vesting in the
                 Company or its nominee (as the case may be) the sole beneficial
                 right in the Invention; and

        14.1.5   the Company shall be under no liability to account to the
                 Executive for any revenue or profit derived or resulting from
                 the Invention.

        The provisions of this clause shall be without prejudice to the
        Executive's rights (if any) under Section 40 of the Patents Act 1977 or
        any modification or re-enactment thereof and the Executive hereby
        irrevocably and by way of security appoints any Director of the Company
        to be his attorney and in his name and on his behalf to do and execute
        any such act or instrument as may be necessary for the purpose of
        implementing the above provisions.

15.     TERMINATION

15.1    The Company may by notice in writing to the Executive determine this
        Agreement forthwith (and the Executive shall have no claim against the
        Company for damages or otherwise by reason of such determination) if the
        Executive shall:

        15.1.1   commit an act of bankruptcy; or

        15.1.2   commit any serious breach of or continue (after written
                 warning) any material breach of any of his obligations to the
                 Company or any Associated Company under this Agreement; or

        15.1.3   be convicted of an offence under any present or future statute,
                 order or regulation relating to insider dealing; or

        15.1.4   have an order made against him under any of the provisions of
                 Sections 6 to 10 (inclusive) of the Company Directors
                 Disqualification Act 1986 or for any reason whatsoever shall be
                 or become prohibited by law from being a director; or

        15.1.5   refuse without proper reason to comply with any lawful and
                 reasonable orders or directions given to him by the Board; or

        15.1.6   be guilty of conduct which brings the Company or any Associated
                 Company into serious disrepute so long as the Company within
                 three months of having been made aware of the conduct
                 determines this Agreement; or

                                       11
<Page>

        15.1.7   be convicted of any criminal offence (other than any offence
                 under road traffic legislation in the United Kingdom or
                 elsewhere for which he is not sentenced to any term of
                 imprisonment whether immediate or suspended).

15.2    The Executive's employment shall automatically terminate by reason of
        the Executive's retirement, without the need for the Company to give
        notice hereunder in accordance with Clause 2.2. above, on the
        Executive's sixty-second birthday.

15.3    On termination of this Agreement for whatever cause the Executive shall
        forthwith resign from all offices held by him in the Company and any
        Associated Company (but such resignation shall be without prejudice to
        any claims which the Executive may have for breach of this Agreement)
        and hereby irrevocably appoints and authorises the Chief Financial
        officer of the Company to be his attorney to sign such resignation in
        his name.

16.     MISREPRESENTATION

The Executive shall not at any time make any untrue statement about or in
relation to the Company or any Associated Company or its or their personnel and
in particular, shall not after the determination of the Employment wrongfully
represent himself as being employed by or connected with the Company or any
Associated Company.

17.     POST-EMPLOYMENT RESTRICTIONS

The Executive undertakes and agrees with the Company that for a period of six
months from the termination of the Employment he will not without the prior
consent in writing of the Board directly or indirectly:

17.1    carry on or be concerned or (save as the holder of shares or other
        securities in any company which are quoted, listed or otherwise dealt in
        on a recognised stock exchange or other securities market and which
        confer not more than 1 per cent of the votes which could be cast at a
        general meeting of the company concerned and save as an investor in the
        units of any Collective Investment Scheme or in a business expansion
        scheme or similar fund) interested in any business within the United
        Kingdom of the kind carried on at the date of termination or the
        Employment by the Company or any Associated Company and to which the
        Executive's duties related;

                                       12
<Page>

17.2    canvass or solicit (in competition with the Company or any Associated
        Company to which the Executive duties related) the custom of or deal
        with any person or firm or company who at any time during the period of
        twelve months immediately preceding the date of termination of the
        Employment was to the knowledge of the Executive a customer or
        prospective customer or in the habit of dealing with the Company or any
        Associated Company in respect of goods or services of a type supplied by
        the Company or any Associated Company to which the Executive's duties
        related and who was known to the Executive by reason of the Employment;

17.3    solicit or entice or endeavour to solicit or entice away from the
        Company or any Associated Company to which the Executive's duties
        related any supplier who has supplied goods or services to the Company
        or any Associated Company during the period of six months immediately
        preceding the date of termination of the Employment if such solicitation
        or enticement causes or would cause such supplier to cease supplying, or
        materially to reduce its supply of, those goods or services to the
        Company or any Associated Company.

Further the Executive undertakes and agrees with the Company that for a period
of six months from the termination of Employment he will not without the prior
consent in writing of the Board directly or indirectly;

17.4    solicit or entice or endeavor to solicit or entice away from the Company
        or any Associated Company any director, manager, employee or consultant
        who was employed or engaged by the Company or any Associated Company at
        the date of termination of the Employment in a managerial, supervisory,
        technical, sales, financial or administrative post and to whom the
        Executive's duties related whether or not such person would commit any
        breach of his contract of employment by reason of leaving the employment
        of the Company or any Associated Company; and

17.5    the Executive agrees and acknowledges that each of the restrictions
        contained in the foregoing sub-clauses of this clause shall constitute
        entirely separate and independent restrictions on him and that the
        duration, extent and application of each of the restrictions are no
        greater than is necessary for the protection of the goodwill of the
        business, trade secrets and confidential information of the Company or
        any Associated Company and that such restrictions would not operate
        harshly or unreasonably on him; and

                                       13
<Page>

17.6    if any such restriction is held to be invalid but, if reduced whether in
        its field or activity, in its duration or in its geographical area,
        would be valid in such reduced form, then such reduced restriction and
        all other remaining restrictions shall continue to apply to the extent
        that they shall not be held to be invalid.

18.     PENSION AND MEDICAL INSURANCE SCHEMES

18.1    The Executive now and throughout the term of this Agreement has the
        option to be a member of the Defined Benefit Pension Scheme or such
        other pension scheme or schemes (if any) in which the Company
        participates and which the Executive is eligible to join in accordance
        with the rules thereof and the Company shall duly and punctually pay all
        contributions due from it under the rules of the scheme in respect of
        the Executive's benefits thereunder. The Executive's contributions to
        the scheme or schemes will be deducted from his salary. The Company has
        contracted out of the State Earnings Related Pension Scheme.

18.2    The Executive shall be entitled to membership of the Company's Medical
        Insurance Scheme from time to time in force applicable to full-time
        employees or officers of the Company in accordance with the rules
        applicable thereto and the Company shall bear the subscriptions
        therefor. Membership will include cover for the Executive, his spouse
        and his children under the age of 18.

19.     ENTIRE AGREEMENT

This Agreement shall be in substitution for any previous service agreement
between the Company or any Associated Company and the Executive and for any
terms of employment previously in force between the Company or any Associated
Company and the Executive and the Executive acknowledges and warrants that there
are no agreements or arrangements whether written, oral or implied between the
Company or any Associated Company and the Executive relating to the employment
of the Executive other that those expressly set out in this Agreement and that
he is not entering into this Agreement in reliance on say representation not
expressly set out in this Agreement.

                                       14
<Page>

20.     NO COMMISSIONS

The Executive shall under no circumstances whatsoever either directly or
indirectly receive or accept for his own benefit any commission, rebate,
discount, gratuity or profit from any person, company or firm having business
transactions with the Company or any Associated Company.

21.     EMPLOYMENT RIGHTS ACT 1996

The written particulars of terms of employment referred to in Section 1 of the
Employment Rights Act 1996 are contained herein and accordingly no separate
written statement will be given by the Company to the Executive.

22.     NOTICES

Any notice or other document to be given under this Agreement to the Company
shall be delivered or sent by first class recorded delivery post or facsimile or
telex to the Company at its registered office from time to time (for the
attention of the Secretary of the Company) and any notice or other document to
be given under this Agreement to the Executive shall be delivered to him or sent
by first class recorded delivery post or facsimile or telex to his usual or last
known place of residence. Any such notice or other document shall be deemed to
have been served:

22.1    if delivered, at the time of delivery; or

22.2    if posted, at the expiration of 48 hours after the envelope containing
        the same was put into the post; or

22.3    if sent by facsimile or telex, at the expiration of 12 hours after the
        same was dispatched or (in the case of telex and if earlier) when the
        sender shall have received the recipient's answerback code after
        sending.

In proving such service it shall be sufficient to prove that delivery was made
or that the envelope containing such notice was properly addressed and posted
pre-paid first class recorded delivery letter or that the facsimile or telex was
properly addressed and dispatched as the case may be.

23.     DISCIPLINARY AND GRIEVANCE PROCEDURE

There is no formal disciplinary procedure. If the Executive is dissatisfied with
any disciplinary decision relating to him or seeks redress of any grievance
relating to the Employment (other than

                                       15
<Page>

the construction of this Agreement), he should first refer the matter to the
President of Parent Company and then to the Chairman of the Parent Company.

24.     PERIOD OF CONTINUOUS EMPLOYMENT

The Executive has service with ICI which service commenced on 1 September 1972
and which counts as part of the Executive's continuous period of employment.

25.     GOVERNING LAW

This Agreement shall be governed by and construed in accordance with English law
and the parties hereby submit to the jurisdiction of the English Courts as
regards any claim or matter arising under this Agreement.

IN WITNESS whereof this document is executed as a Deed and is delivered on the
day and year first above written.

THE COMMON SEAL of    )
                      )
----------------      )
LIMITED               )
was hereunto          )
affixed in            )
the presence of:      )

              Director

             Secretary

                                       16
<Page>

SIGNED AS A DEED by   )
the said ___________  )
_____________ in
the presence of:      )

                                       17

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