Document:

PREFERREDPLUS 7.55% TRUST CERTIFICATES SERIES FAR-1

                                SERIES SUPPLEMENT

                                     between

                         MERRILL LYNCH DEPOSITOR, INC.,

                                  as Depositor,

                                       and

                              THE BANK OF NEW YORK,

                     as Trustee and Securities Intermediary

                          Dated as of October 17, 2002

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                  SERIES SUPPLEMENT, dated as of October 17, 2002 (the
"Supplement"), by and between MERRILL LYNCH DEPOSITOR, INC., a Delaware
corporation, as Depositor, THE BANK OF NEW YORK, a New York corporation, as
Trustee and Securities Intermediary.

                              W I T N E S S E T H:

                  WHEREAS, the Depositor desires to create the Trust designated
herein (the "Trust") by executing and delivering this Supplement, which shall
incorporate the terms of the Standard Terms for Trust Agreements, dated as of
February 20, 1998 (the "Standard Terms" and, together with this Supplement, the
"Trust Agreement"), by and between the Depositor and the Trustee and Securities
Intermediary, as modified by this Supplement;

                  WHEREAS, the Depositor desires to deposit the Underlying
Securities set forth on Schedule I attached hereto into the Trust;

                  WHEREAS, in connection with the creation of the Trust and the
deposit therein of the Underlying Securities, it is desired to provide for the
issuance of the Certificates evidencing undivided interests in the Trust and
Call Rights;

                  WHEREAS, the Trustee has joined in the execution of the
Standard Terms and this Supplement to evidence the acceptance by the Trustee of
the Trust; and

                  WHEREAS, the Securities Intermediary has joined in the
execution of the Standard Terms and this Supplement to evidence the acceptance
by the Securities Intermediary of its obligations thereunder and hereunder;

                  NOW, THEREFORE, in consideration of the foregoing premises and
the mutual covenants expressed herein, it is hereby agreed by and between the
Depositor and the Trustee and Securities Intermediary as follows:

                  Section 1. Incorporation of Standard Terms. All of the
provisions of the Standard Terms, a copy of which is attached hereto as Exhibit
A, are hereby incorporated herein by reference in their entirety and this
Supplement and the Standard Terms shall form a single agreement among the
parties. In the event of any inconsistency between the provisions of this
Supplement and the provisions of the Standard Terms, the provisions of this
Supplement will control with respect to the transactions described herein.

                  Section 2. Definitions. (a) Except as otherwise specified
herein or as the context may otherwise require, the following terms shall have
the respective meanings set forth below for all purposes under this Supplement
(Section 2(b) hereof sets forth terms listed in the Standard Terms that are not
applicable to this Series). Capitalized terms used but not defined herein shall
have the meanings assigned to them in the Standard Terms.

                  "Allocation Ratio": Voting Rights, Liquidation Proceeds,
Realized Losses and Extraordinary Trust Expenses shall be allocated to
Certificateholders in accordance with their pro rata interests in the
Certificates.

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                  "Authorized Denomination": With respect to Certificates, an
aggregate stated amount of $1,000.

                  "Business Day": Any day that is not a Saturday, a Sunday or a
legal holiday or a day on which banking institutions or trust companies in the
City of New York are authorized or obligated by law, regulation or executive
order to close and that also is specified as a Business Day with respect to the
Underlying Securities.

                  "Call Date": Any Business Day that (i) a Call Holder
designates as a Call Date on or after October 1, 2007; (ii) a Call Holder
designates as a Call Date before October 1, 2007 after the announcement of any
redemption of the Underlying Securities or other unscheduled payment of the
Underlying Securities or after receipt by the Call Holder of notice of the
termination of the Trust; provided that if a Call Right is to be exercised after
the announcement of any redemption of the Underlying Securities or other
unscheduled payment of the Underlying Securities and prior to such redemption or
other unscheduled payment, then the Call Date designated by the Call Holder must
be the second Business Day prior to such redemption or other unscheduled
payment; (iii) at any time is deemed a Call Date upon an acceleration of the
Underlying Securities and payment in full by the Underlying Securities Issuer of
all amounts when due; or (iv) at any time in the case of a tender offer for the
Underlying Securities, a Call Holder is deemed to designate as a Call Date
pursuant to Section 2.02(i)(iv) of the Warrant Agreement.

                  "Call Holder":  The holder of a Call Right.

                  "Call Price": (i) Prior to October 1, 2007, means $25.00 per
Certificate being called, (ii) on or after October 1, 2007, $25.00 per
Certificate being called and (iii) at any time upon an acceleration of the
Underlying Securities and payment in full by the Underlying Securities Issuer of
all amounts when due, $25.00 per Certificate being called, in each case plus any
accrued and unpaid interest on each Certificate being called to the Call Date.
Any payments of interest on the Call Date by the Trust to the Certificateholder
shall be excluded.

                  "Call Right": The right, but not the obligation, pursuant to
the Warrant Agreement and any related Warrant Certificates (as defined in the
Warrant Agreement) of one or more Call Holders to purchase from the
Certificateholders on a Call Date some or all of the Certificates for the Call
Price.

                  "Certificates": The 1,800,000 trust certificates issued by the
Trust in a stated amount of $25 per trust certificate, entitled to receive on
each Distribution Date until and including the Final Scheduled Distribution
Date, distributions at a rate of 7.55% per annum on the stated amount of the
Certificates and a cash distribution of the principal amount of the Underlying
Securities on the Final Scheduled Distribution Date and such other distributions
as described herein.

                  "Closing Date":  October 17, 2002.

                  "Collection Period": (i) With respect to each October 1
Distribution Date, the period beginning on the day after the April 1
Distribution Date of the prior year and ending on such October 1 Distribution
Date, inclusive, and (ii) with respect to each April 1 Distribution Date, the
period beginning on the day after the October 1 Distribution Date of the current
year

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and ending on such April 1 Distribution Date, inclusive, except for the April 1,
2003 Distribution Date, as to which the Collection Period shall be the period
beginning on the Cut-off Date and ending on such April 1, 2003 Distribution
Date, inclusive; provided, however, that clauses (i) and (ii) shall be subject
to Section 9(c) hereof.

                  "Corporate Trust Office": The office of the Trustee located at
100 Church Street, 8th Floor, New York, NY 10286, Attention: Corporate Trust
Department; provided, however, that the office at which certificated securities
are delivered for registration of transfer, cancellation or exchange shall be
the office of the Trustee, located at 100 Church Street, 8th Floor, New York, NY
10286.

                  "Cut-off Date":  October 17, 2002.

                  "Delivery Certificates" has the meaning given to it in Section
2.02 of the Warrant Agreement.

                  "Depository": The Depository Trust Company, its nominees and
their respective successors.

                  "Distribution Date": April 1 and October 1 of each year (or if
such date is not a Business Day, the next succeeding Business Day), commencing
on April 1, 2003 and ending on the Final Scheduled Distribution Date.

                  "Distribution Election": (a) If there occurs an Event of
Default (as defined in the Underlying Securities Indenture) on the Underlying
Securities under clauses (1) or (2) of Section 5.01 of the Underlying Securities
Indenture, then the Trustee, upon receiving notice of such event, shall, on or
immediately after the 30th day after such event, direct the Market Agent to sell
the Underlying Securities and a pro rata portion of the Related Assets held by
the Trust, in accordance with the Sale Procedures, and the Liquidation Proceeds,
if any, shall be deposited into the Certificate Account for distribution in
accordance with the Allocation Ratio on the first Business Day following such
deposit into such Certificate Account.

                  (b) If, prior to the day on which the Market Agent sells the
Underlying Securities pursuant to paragraph (a) above, there occurs (and the
trustee receives notice of such occurrence) an acceleration of the date of
maturity of the Underlying Securities and the Underlying Securities are declared
to be immediately due and payable in accordance with the Underlying Securities
Indenture, and the Underlying Securities Issuer:

                  (i) makes full payment of all amounts when due, then all
         holders of outstanding Call Rights will be deemed to have exercised
         their Call Rights automatically, and the Trustee, upon receiving such
         acceleration proceeds from the Underlying Securities Issuer, shall, on
         the first Business Day following receipt of such acceleration proceeds,
         distribute from such acceleration proceeds the following amounts: (A)
         the Call Price per Certificate shall be distributed from such payment
         on account of each Certificate called from the holder thereof (which
         holders, pursuant to Section 2.02(d) of the Warrant Agreement, shall
         exclude Certificateholders to whom Delivery Certificates (as defined in
         the Warrant Agreement) were delivered in accordance with Section
         2.02(d) of the Warrant Agreement), (B) the stated amount per
         Certificate plus accrued and unpaid

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         distributions thereon, which shall be deemed to equal the Call Price
         per Certificate, shall be distributed from such payment on account of
         each Certificate held by Certificateholders to whom Delivery
         Certificates were delivered in accordance with Section 2.02(d) of the
         Warrant Agreement, and (C) any amounts remaining shall be distributed
         pro rata among the Call Holders that are deemed to have exercised their
         Call Rights automatically pursuant to this clause and the
         Certificateholders to whom Delivery Certificates were delivered in
         accordance with Section 2.02(d) of the Warrant Agreement;

                  (ii) makes a partial payment of all amounts when due, then the
         Trustee, upon receiving such payment, shall: (A) immediately deposit
         such payment into the Certificate Account for distribution in
         accordance with the Allocation Ratio on the first Business Day
         following such deposit into such Certificate Account; provided, that if
         the Underlying Securities Issuer places any condition, restriction or
         obligation on the acceptance of such partial payment including but not
         limited to a waiver of any right granted to a holder of the Underlying
         Securities, such partial payment will be rejected by the Trustee and no
         deposit will be made into the Certificate Account, (B) distribute a
         principal amount of the Underlying Securities equal to the aggregate
         stated amount of the outstanding Trust Certificates and a pro rata
         portion of the Related Assets in accordance with the Allocation Ratio
         to each Certificateholder's last address as it appears in the
         Certificate Register within three Business Days of receiving said
         notice, and (C) if any Underlying Securities are not distributed
         pursuant to clause (B), immediately direct the Market Agent to sell all
         Underlying Securities not so distributed and a pro rata portion of the
         Related Assets held by the Trust, in accordance with the Sale
         Procedures, and the Liquidation Proceeds, if any, shall be deposited
         into the Certificate Account for distribution in accordance with the
         Allocation Ratio on the first Business Day following such deposit into
         the Certificate Account; or

                  (iii) fails to make such payment when due, then the Trustee,
         upon receiving notice of such failure to make payment, shall (A)
         distribute a principal amount of Underlying Securities equal to the
         stated amount of outstanding Trust Certificates and a pro rata portion
         of the Related Assets in accordance with the Allocation Ratio to each
         Certificateholder's last address as it appears in the Certificate
         Register within three Business Days of receiving said notice, and (B)
         if any Underlying Securities are not distributed pursuant to clause
         (A), immediately direct the Market Agent to sell all Underlying
         Securities not so distributed and a pro rata portion of the Related
         Assets held by the Trust, in accordance with the Sale Procedures, and
         the Liquidation Proceeds, if any, shall be deposited into the
         Certificate Account for distribution in accordance with the Allocation
         Ratio on the first Business Day following such deposit into the
         Certificate Account.

                  (c) If the Underlying Securities Issuer of any Concentrated
Underlying Securities ceases to be a reporting company under the Exchange Act,
and no parent guarantor of such Underwriting Securities Issuer, if any, includes
in its Exchange Act reports condensed consolidating financial statements setting
forth financial information for the Underwriting Securities Issuer, then the
Trustee, upon receiving notice of such event shall (A) distribute a principal
amount of Underlying Securities equal to the stated amount of outstanding Trust

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Certificates and a pro rata portion of the Related Assets in accordance with the
Allocation Ratio to each Certificateholder's last address as it appears in the
Certificate Register within three Business Days of receiving said notice, and
(B) if any Underlying Securities are not distributed pursuant to clause (A),
immediately direct the Market Agent to sell all Underlying Securities not so
distributed and a pro rata portion of the Related Assets held by the Trust, in
accordance with the Sale Procedures, and the Liquidation Proceeds, if any, shall
be deposited into the Certificate Account for distribution in accordance with
the Allocation Ratio on the first Business Day following such deposit into the
Certificate Account.

                  (d) Upon receiving (A) notice of an acceleration of the date
of maturity of the Underlying Securities and the Underlying Securities Issuer's
partial payment of all amounts when due as described in subsection (ii) of
clause (b) above, or (B) notice of the events set forth in clause (c) above, the
Trustee shall, 10 days prior to the exercise of any remedy, provide written
notice of the termination of the Trust to the Call Holders. Notwithstanding
subsection (ii) of clause (b) and clause (c), the Trustee shall not distribute
any such partial payment, Underlying Securities or Related Assets to any
Certificateholders before the earlier of (i) the expiration of the 10-day notice
of termination period, and (ii) receipt by the Trust of notice of all Call
Holders' election to exercise their Call Rights. If less than all outstanding
Call Rights are exercised, upon receiving such notice of election, the Trustee
shall select by lot (or by such other reasonable procedure as may be established
by the Trustee) for purchase by such exercising Call Holders the stated amount
of Trust Certificates equal to the stated amount of Call Rights being exercised
multiplied by the aggregate stated amount of the outstanding Trust Certificates
not subject to Delivery Certificates divided by the aggregate stated amount of
the outstanding Call Rights. The Certificateholders of the Trust Certificates to
be purchased shall not be entitled to any right other than the right to receive
payment of an amount equal to the Call Price on the date such Call Rights are
exercised, and such Trust Certificates shall be deemed to have been
automatically surrendered by the Certificateholders to the Trust for further
transfer to the exercising Call Holders. The share of the payment, Underlying
Securities and Related Assets to be distributed with respect to such called
Trust Certificates shall be distributed to the exercising Call Holders. In the
case of a sale by the Market Agent of Underlying Securities and Related Assets
pursuant to clause (a) above, the Trustee shall deliver such Underlying
Securities and Related Assets to the purchaser of such Underlying Securities and
Related Assets only against payment in same day funds and the Trustee shall
deposit the same into the Certificate Account.

                  "Eligible Investments": As defined in the Standard Terms;
provided, however, that (i) the minimum required rating for long-term
instruments will be equal to the lower of the rating of the Underlying
Securities or the Trust Certificates, and (ii) the rating of any short-term
instruments will be A-1+ by S&P and P1 by Moody's; and provided, further, that
any such investment matures no later than the Business Day prior to the next
succeeding Distribution Date.

                  "Escrow Agent":  As will be set forth in the Escrow Agreement.

                  "Escrow Agreement": The escrow agreement to be entered into on
the Exercise Date among a given Call Holder, the Trustee and the Escrow Agent
pursuant to Section 14(c)(iii)(2) hereof.

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                  "Event of Default": (i) A default in the payment of any
interest on any Underlying Security after the same becomes due and payable
(subject to any applicable grace period), (ii) a default in the payment of the
principal of or any installment of principal of any Underlying Security when the
same becomes due and payable and (iii) any other event specified as an event of
default in the Underlying Securities Indenture. For a summary of certain events
of default in the Underlying Securities Indenture, please refer to the
Prospectus Supplement.

                  "Exercise Date": any date on which a Call Holder notifies the
Trustee of its intention to exercise its Call Right in accordance with the
provision of Section 14(c)(iii), any date a Call Holder is deemed to have
exercised its Call Right pursuant to Section 2.02(i)(iv) of the Warrant
Agreement, or upon an acceleration of the Underlying Securities and payment in
full of all amounts when due by the Underlying Securities Issuer.

                  "Final Scheduled Distribution Date": April 1, 2028 (or if such
date is not a Business Day, the next succeeding Business Day).

                  "Fixed Pass-Through Rate": 7.55% per annum.

                  "Optional Exchange Date": Any Distribution Date or such date
as is designated pursuant to Section 7(b) hereof.

                  "Ordinary Expenses": The compensation due to the Trustee for
Ordinary Expenses as defined in the Standard Terms, which, with respect to
Ordinary Expenses other than those referred to in clause (iii) of such
definition and other than the costs of converting to EDGAR format the periodic
reports required for the Trust under the Exchange Act, shall be fixed at $2,000
per annum (payable in semi-annual installments of $1,000).

                  "Pass-Through Rate": The Fixed Pass-Through Rate.

                  "Prepaid Ordinary Expenses": Zero (0).

                  "Prospectus Supplement": The Prospectus Supplement dated
October 10, 2002 relating to the Certificates.

                  "Rating Agency": Moody's and S&P.

                  "Record Date": The Business Day immediately preceding each
Distribution Date.

                  "Series": PREFERREDPLUS 7.40% Trust Certificates Series FAR-1.

                  "Underlying Securities": The $45,000,000 aggregate principal
amount of 7.55% Senior Debentures due April 1, 2028 issued by the Underlying
Securities Issuer, as described in Schedule I hereto.

                  "Underlying Securities Indenture": As set forth in Schedule I.

                  "Underlying Securities Issuer": First American Corporation, a
California corporation, formerly known as First American Financial Corporation.

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                  "Warrant Agreement": The Warrant Agreement, dated as of
October 17, 2002, by and between the Trust and the Warrant Agent (as defined in
the Warrant Agreement).

                  (b) The terms listed below are not applicable to this Series.

                  "Accounting Date"

                  "Administration Account"

                  "Administrative Agent"

                  "Administration Agreement"

                  "Administrative Agent Termination Event"

                  "Advance"

                  "Calculation Agent"

                  "Eligible Expense"

                  "Exchange Rate Agent"

                  "Floating Pass-Through Rate"

                  "Letter of Credit"

                  "Limited Guarantor"

                  "Limited Guaranty"

                  "Notional Amount"

                  "Reserve Account"

                  "Requisite Reserve Amount"

                  "Retained Interest"

                  "Surety Bond"

                  "Swap Agreement"

                  "Swap Counterparty"

                  "Swap Distribution Amount"

                  "Swap Guarantee"

                  "Swap Guarantor"

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                  "Swap Receipt Amount"

                  "Swap Termination Payment"

                  Section 3. Designation of Trust and Certificates. (a) The
Trust created hereby shall be known as the "PREFERREDPLUS Trust Series FAR-1.
The Certificates evidencing certain undivided ownership interests therein shall
be known as the "PREFERREDPLUS 7.55% Trust Certificates Series FAR-1.

                  (b) The Certificates shall be held through the Depository in
book-entry form and shall be substantially in the form attached hereto as
Exhibit B. The Certificates shall be issued in authorized denominations of $25
and integral multiples thereof. Except as provided in the Standard Terms, the
Trust shall not issue additional Certificates or incur any indebtedness;
provided, however, from time to time, upon obtaining prior written confirmation
by each Rating Agency that such action will not result in a downgrading or
withdrawal of its rating of the Certificates, the Depositor may, without the
consent of the Certificateholders, increase the amount of the Underlying
Securities in the Trust and the Trust may issue a corresponding amount of
additional Certificates in accordance with Section 5.12(a) of the Standard Terms
except that clauses (v), (vi) and (vii) of Section 5.12(a) shall not apply to
this Series and a corresponding number of additional Warrants in accordance with
Article I of the Warrant Agreement.

                  (c) On each Distribution Date, commencing on April 1, 2003 and
ending on the Final Scheduled Distribution Date or such earlier date if the
Underlying Securities are redeemed prior to the Final Scheduled Distribution
Date, the Certificates will be entitled to receive distributions at a rate of
7.55% per annum on the stated amount of the Certificates.

                  (d) On the Final Scheduled Distribution Date, the Certificates
will be entitled to a distribution of the aggregate principal amount of such
Underlying Securities.

                  (e) Any reference to the principal amount of the Certificates
shall be construed as a reference to the stated amount of the Certificates,
unless otherwise indicated.

                  Section 4. Satisfaction of Conditions to Initial Execution and
Delivery of Trust Certificates. The Trustee hereby acknowledges receipt, on or
prior to the Closing Date, of:

                  (i) the Underlying Securities set forth on Schedule I hereto;
         and

                  (ii) all documents set forth in Section 5.12 of the Standard
         Terms except that clauses (v), (vi) and (vii) of Section 5.12(a) shall
         not apply to this Series.

                  Section 5. Distributions. (a) On each Distribution Date, the
Trustee shall apply the funds in the Certificate Account, solely to the extent
of Available Funds in the Certificate Account, as follows:

                  (i) first, to the Trustee, reimbursement for any approved
         Extraordinary Trust Expenses incurred by the Trustee in accordance with
         Section 6(b) hereof and approved by not less than 100% of the
         Certificateholders;

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                  (ii) second, pro rata to the Certificateholders, distributions
         accrued during the related Collection Period at the rate of 7.55% per
         annum on the stated amount of such Certificates and distributable on
         such Certificates on such Distribution Date commencing on April 1, 2003
         and ending on the Final Scheduled Distribution Date;

                  (iii) third, to the Certificateholders, if available, any
         additional payments paid by the Underlying Securities Issuer as a
         result of a delay in the receipt by the Trustee of any interest payment
         on the Underlying Securities;

                  (iv) fourth, pro rata to the Certificateholders, on the Final
         Scheduled Distribution Date only, a distribution of the aggregate
         principal amount of the Underlying Securities;

                  (v) fifth, to the extent there remain Available Funds in the
         Certificate Account, to any creditors of the Trust in satisfaction of
         liabilities thereto; and

                  (vi) sixth, to the extent there remain Available Funds in the
         Certificate Account, to Merrill Lynch Capital Services, Inc. and if no
         Available Funds remain in the Certificate Account then no distribution
         will be made pursuant to this Section 5(a)(vi).

Subject to Section 9(c) hereof, to the extent Available Funds are insufficient
to make any required distributions due to the Certificates on any Distribution
Date, any shortfall will be carried over and will be distributed on the next
Distribution Date on which sufficient funds are available on the Available Funds
to pay such shortfall. Neither Merrill Lynch & Co. nor any of its Affiliates
will have any claim against the Trust pursuant to Section 5(a)(vi) if the Trust
fails to make a distribution on a Distribution Date to such person because no
Available Funds remain in the Certificate Account on such Distribution Date.

                  (b) On an Optional Exchange Date, the Trustee shall distribute
to Merrill Lynch & Co. or any of its Affiliates, other than the Depositor, or
any other Person exercising an optional exchange pursuant to Section 7 hereof,
as the case may be, Underlying Securities in accordance with Section 7 hereof.

                  Section 6. Trustee's Fees; Escrow Agent's Fees. (a) Payment to
the Trustee of Ordinary Expenses shall be as set forth in a separate agreement
between the Trustee and the Depositor. The Trustee agrees that in the event
Ordinary Expenses are not paid in accordance with such agreement, it shall (i)
not have any claim or recourse against the Trust or the property of the Trust
with respect thereto and (ii) continue to perform all of its services as set
forth herein unless it elects to resign as Trustee in accordance with Section
7.08 of the Standard Terms.

                  (b) Extraordinary Trust Expenses shall not be paid out of the
Deposited Assets unless (i) the Trustee is satisfied that it will have adequate
security or indemnity in respect of such costs, expenses and liabilities, and
(ii) all the Certificateholders of Certificates then outstanding have voted to
require the Trustee to incur such Extraordinary Trust Expenses. If Extraordinary
Trust Expenses are not approved unanimously as set forth in clause (ii), such
Extraordinary Trust Expenses shall not be an obligation of the Trust, and the
Trustee shall not file any claim against the Trust therefor notwithstanding
failure of Certificateholders to

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reimburse the Trustee. In addition, if the conditions in (i) and (ii) are not
both satisfied, the Trustee shall not be obligated to incur any Extraordinary
Trust Expense.

                  (c) In the event that one or more Call Holders is required to
deposit the Call Price with the Escrow Agent on the Call Date pursuant to
Section 14(c)(iii)(2) hereof, the Depositor and the Escrow Agent shall enter
into an agreement reasonably acceptable to both parties thereto whereby the
Depositor shall pay to the Escrow Agent a fee in consideration for its services
under the Escrow Agreement or Escrow Agreements, as applicable.

                  Section 7. Optional Exchange. (a) Merrill Lynch & Co. or any
of its Affiliates (other than the Depositor), if it holds Certificates, or any
other (i) Person or (ii) group of Affiliated Persons (in each case other than
the Depositor) holding Certificates with an aggregate stated amount of $5
million or more acquired pursuant to the exercise of Call Rights held by it
(provided that, in the case of a group of Affiliated Persons, no single
Affiliated Person holds Certificates with an aggregate stated amount of less
than $500,000 acquired pursuant to the exercise of Call Rights held by it), may
notify the Trustee, not less than 30 days but not more than 60 days prior to any
Optional Exchange Date, that:

                  (i) such Person intends or Affiliated Persons intend to tender
         an Authorized Denomination of Certificates that it holds or they hold
         to the Trustee on such Optional Exchange Date in exchange for a
         proportional amount of Underlying Securities;

                  (ii) such exchange will not cause the Trust or Depositor to
         fail to satisfy the applicable requirements for exemption under Rule
         3a-7 under the Investment Company Act of 1940, as amended;

                  (iii) such exchange will not affect the characterization of
         the Trust as a "grantor trust" under the Code;

                  (iv) in the case of an exchange of less than all outstanding
         Certificates, such exchange will not cause a failure to satisfy the
         minimum requirements for the Certificates to remain listed on the New
         York Stock Exchange, unless the Person or Affiliated Persons tendering
         such Certificates will hold all remaining outstanding Certificates upon
         completion of the exchange of such Certificates pursuant to this
         Section 7;

                  (v) such exchange will not be made with respect to
         Certificates subject to outstanding Call Rights held by any Person or
         Affiliated Persons other than the Person or Affiliated Persons
         exercising such exchange; and

                  (vi) in the case of an exchange by a person other than Merrill
         Lynch & Co. or any of its Affiliates (other than the Depositor), such
         exchange will be made with respect to an aggregate stated amount of
         Certificates equal to the aggregate stated amount of Certificates
         acquired by such Person or Affiliated Persons pursuant to the exercise
         of Call Rights held by it or them.

Upon tender of such Certificates on such Optional Exchange Date, the Trustee
will deliver to the Person or Affiliated Persons tendering such Certificates an
amount of Underlying Securities having a principal amount equal to the aggregate
principal amount of Underlying Securities then

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held by the Trust times the aggregate stated amount of Certificates being
tendered divided by the aggregate stated amount of Certificates then outstanding
and, in the case of an exchange by Merrill Lynch & Co. or any of its Affiliates,
where such Person or Affiliated Person holds unexercised Call Rights respecting
the exchanged Trust Certificates, such unexercised Call Rights held by such
Person or Affiliated Person shall be cancelled. Any Call Holder that has
properly provided notice of exercise to the Warrant Agent and has deposited the
Call Price with the Escrow Agent may concurrently designate an Optional Exchange
Date, and such Optional Exchange Date shall be specified in the notice of
exercise, provided, however, that such Optional Exchange Date shall not occur
prior to the applicable Call Date.

                  (b) When a tender offer for the Underlying Securities is
pending, Merrill Lynch & Co. or any of its Affiliates (other than the
Depositor), if it holds Certificates, or any other Person or Affiliated Persons
(other than the Depositor, or an Affiliate of the Person making such tender
offer) holding Certificates with an aggregate stated amount of $5 million or
more acquired pursuant to the exercise of Call Rights held by it (provided that,
in the case of a group of Affiliated Persons, no single Affiliated Person holds
Certificates with an aggregate stated amount of less than $500,000 acquired
pursuant to the exercise of Call Rights, as applicable, held by it), may notify
the Trustee, not less than 5 days but not more than 60 days prior to any such
Optional Exchange Date as they may designate, that:

                  (i) such Person intends or such Affiliated Persons intend to
         tender an Authorized Denomination of certificates with an aggregated
         stated amount of $5 million or more Certificates that it holds or they
         hold to the Trustee on such Optional Exchange Date in exchange for a
         proportional amount of Underlying Securities;

                  (ii) such exchange will not cause the Trust or Depositor to
         fail to satisfy the applicable requirements for exemption under Rule
         3a-7 under the Investment Company Act of 1940, as amended;

                  (iii) such exchange will not affect the characterization of
         the Trust as a "grantor trust" under the Code;

                  (iv) in the case of an exchange of less than all outstanding
         Certificates, such exchange will not cause a failure to satisfy the
         minimum requirements for the Certificates to remain listed on the New
         York Stock Exchange, unless the Person or Affiliated Persons tendering
         such Certificates will hold all remaining outstanding Certificates upon
         completion of the exchange of such Certificates pursuant to this
         Section 7;

                  (v) such exchange will not be made with respect to
         Certificates subject to outstanding Call Rights held by any Person or
         Affiliated Persons other than the Person or Affiliated Persons
         exercising such exchange; and

                  (vi) in the case of an exchange by a person other than Merrill
         Lynch & Co. or any of its Affiliates (other than the Depositor), such
         exchange will be made with respect to an aggregate stated amount of
         Certificates equal to the aggregate stated amount of Certificates
         acquired by such Person or Affiliated Persons pursuant to the exercise
         of Call Rights held by it or them.

                                       12
<PAGE>

Upon tender of such Certificates on such Optional Exchange Date, the Trustee
will deliver to the Person or Affiliated Persons tendering such Certificates an
amount of Underlying Securities having a principal amount equal to the aggregate
principal amount of Underlying Securities then held by the Trust times the
aggregate stated amount of Certificates being tendered divided by the aggregate
stated amount of Certificates then outstanding and, in the case of an exchange
by Merrill Lynch & Co. or any of its Affiliates, where such Person or Affiliate
Person holds unexercised Call Rights respecting the exchanged Trust
Certificates, such unexercised Call Rights held by such Person or Affiliated
Person shall be cancelled.

                  (c) The requirements set forth in paragraphs (a)(ii), (a)(v)
and (a)(vi) of Section 4.07 of the Standard Terms do not apply to an Optional
Exchange pursuant to this Section 7.

                  (d) Any costs associated with the exercise of the rights
granted under paragraphs (a) and (b) of this Section 7 will be borne by the
Person or Affiliated Persons exercising such rights and not by the Trust.

                  Section 8. Events of Default. Within 30 days of its receipt of
notice of the occurrence of an Event of Default, the Trustee will give notice to
the Certificateholders, transmitted by mail, of all such uncured or unwaived
Events of Default actually known to it. However, unless there is an Event of
Default relating to the payment of principal of or interest on any of the
Underlying Securities, the Trustee will be protected in withholding such notice
if in good faith it determines that the withholding of such notice is in the
interest of the Certificateholders; provided however, that the Trustee shall
give notice of an Event of Default to the extent required under "Distribution
Election."

                  Section 9. Miscellaneous. (a) The provisions of Section 4.04,
Advances, of the Standard Terms shall not apply to the Certificates.

                  (b) The Certificateholders shall not be entitled to terminate
the Trust or cause the sale or other disposition of the Underlying Securities;
provided, however, that Certificateholders holding all, but not less than all,
of the outstanding Certificates may exercise their rights under Section 13(b)
with respect to all such Certificates.

                  (c) If the Trustee has not received payment with respect to a
Collection Period on the Underlying Securities on or prior to the related
Distribution Date, such distribution will be made promptly upon receipt of such
payment. No additional amounts shall accrue on the Certificates or be owed to
Certificateholders as a result of such delay; provided, however, that any
additional interest owed and paid by the Underlying Securities Issuer as a
result of such delay shall be paid to the Certificateholders, proportionately to
the ratio of their respective entitlements to interest payments.

                  (d) The outstanding principal balance of the Certificates
shall not be reduced by the amount of any Realized Loss.

                  (e) The Trust may not engage in any business or activities
other than in connection with, or relating to, the holding, protecting and
preserving of the Deposited Assets and the issuance of the Certificates and Call
Rights, and other than those required or authorized

                                       13
<PAGE>

by the Trust Agreement or incidental and necessary to accomplish such
activities. The Trust may not issue or sell any certificates or other
obligations other than the Certificates and Call Rights or otherwise incur,
assume or guarantee any indebtedness for money borrowed.

                  (f) The Trust may not consolidate, amalgamate, merge with or
into, or be replaced by or convey, transfer or lease its properties and assets
substantially as an entirety to, any another entity or permit any other entity
to consolidate, amalgamate, merge with or into, or replace the Trust.

                  (g) Except as expressly provided in the Trust Agreement, the
Trust may not sell the Underlying Securities.

                  (h) If the Trustee resigns or is removed as Trustee in
accordance with Section 7.08 of the Trust Agreement, in addition to providing
the Depositor with written notice, the Trustee shall also provide the Rating
Agencies with written notice.

                  (i) Merrill Lynch & Co. shall act as the Market Agent and
shall serve in such capacity in accordance with the terms of the Market Agent
Agreement attached hereto as Exhibit C.

                  (j) Notwithstanding anything in the Trust Agreement to the
contrary, the Trustee may be removed upon 60 days prior written notice delivered
by Certificateholders holding Certificates that represent the Required
Percentage-Removal, and such removal shall take effect upon the appointment of a
successor Trustee and its acceptance of such appointment as provided in the
Trust Agreement.

                  Section 10. Notices. (a) All directions, demands and notices
hereunder or under the Standard Terms shall be in writing and shall be delivered
as set forth below (unless written notice is otherwise provided to the Trustee).

                  If to the Depositor, to:

                  Merrill Lynch Depositor, Inc.
                  c/o Merrill Lynch & Co.
                  World Financial Center
                  New York, NY  10281
                  Attention:        Barry N. Finkelstein
                  Telephone:        (212) 449-9001
                  Facsimile:        (212) 449-9054

                  If to the Trustee, to:

                  The Bank of New York
                  100 Church Street
                  8th Floor
                  New York, NY  10286
                  Attention:        PREFERREDPLUS Trust Series FAR-1
                  Telephone:        (212) 437-4055

                                       14
<PAGE>

                  Facsimile:        (212) 437-6151

                  If to the Securities Intermediary, to:

                  The Bank of New York
                  100 Church Street
                  8th Floor
                  New York, NY  10286
                  Attention:        PREFERREDPLUS Trust Series FAR-1
                  Telephone:        (212) 437-4055
                  Facsimile:        (212) 437-6151

                  If to the Warrant Agent, to

                  The Bank of New York
                  100 Church Street
                  8th Floor
                  New York, NY  10286
                  Attention:        PREFERREDPLUS Trust Series FAR-1
                  Telephone:        (212) 437-4055
                  Facsimile:        (212) 437-6151

                  If to the Rating Agencies, to:

                  Moody's Investors Service, Inc.
                  99 Church Street
                  New York, New York  10007
                  Attention:        CBO/CLO Monitoring Department
                  Telephone:        (212) 553-1494
                  Facsimile:        (212) 553-0355

                  and to:

                  Standard & Poor's
                  55 Water Street, 41st Floor
                  New York, New York  10041
                  Attention:        Structured Finance Surveillance Group
                  Telephone:        (212) 438-2482
                  Facsimile:        (212) 438-2664

                  (b) Copies of any tender offer materials and all directions,
demands and notices required to be given to the Certificateholders hereunder or
under the Standard Terms will be given to the Warrant Agent by facsimile
transmission and by mail.

                                       15
<PAGE>

                  Section 11. Governing Law. This Supplement and the
transactions described herein shall be construed in accordance with and governed
by the law of the State of New York.

                  Section 12. Counterparts. This Supplement may be executed in
any number of counterparts, each of which shall be deemed to be an original, and
all such counterparts shall constitute but one and the same instrument.

                  Section 13. Termination of the Trust. (a) The Trust shall
terminate upon the earlier of (i) the payment in full at maturity or sale by the
Trust after a payment default on the Underlying Securities and the distribution
in full of all amounts due to the Certificateholders, (ii) the distribution to
the Certificateholders of all Underlying Securities in accordance with the
Distribution Election, (iii) the exchange of all outstanding Certificates for
Underlying Securities pursuant to one or more Optional Exchanges, (iv) the Final
Scheduled Distribution Date and (v) the holders of all, but not less than all,
of the Certificates exercising their election in Section 13(b) below.

                  (b) Certificateholders who hold all, but not less than all, of
the outstanding Certificates may, upon prior written notice to the Rating
Agencies, elect to terminate the Trust at any time; provided that (i) the
exercise of such termination right would not cause the Trust or the Depositor to
fail to satisfy the applicable requirements for exemption under Rule 3a-7 under
the Investment Company Act of 1940, as amended and (ii) if and for so long as
the call warrants remain outstanding, all of the Call Holders have consented to
such termination.

                  (c) To the extent that the provisions of this Section 13
conflict with Section 10.01 of the Standard Terms, the latter shall control.

                  Section 14. Sale or Redemption of Underlying Securities; Call
Right. (a) In the case of Extraordinary Trust Expenses approved by 100% of the
Certificateholders of a given Class, pursuant to Section 6(b) hereof, the
Trustee may, upon prior written notice to the Rating Agencies, elect to sell all
or a portion of the Underlying Securities to pay such Extraordinary Trust
Expenses.

                  (b) As a holder of the Underlying Securities, the Trust may
receive redemption proceeds upon the redemption of the Underlying Securities, in
whole or in part, by the Underlying Securities Issuer pursuant to the Underlying
Securities Indenture. (i) Upon the redemption of the Underlying Securities in
whole, but not in part, (A) on the stated maturity date of such Underlying
Securities or (B) at the option of the Underlying Securities Issuer upon at
least 30 days, but not more than 60 days, prior notice pursuant to the
Underlying Securities Indenture, the redemption proceeds will be distributed pro
rata to the holders of the Underlying Securities, including the Trust. Upon
receiving such redemption proceeds, the Trust shall distribute the proceeds pro
rata to the Certificateholders entitled to such proceeds upon the date such
proceeds are received in immediately available funds by the Trust if such
proceeds are received prior to 1:00 p.m. local time at the office of the Trustee
and otherwise on the next Business Day. (ii) Upon the redemption of the
Underlying Securities in part at the option of the Underlying Securities Issuer
upon at least 30 days, but not more than 60 days, prior notice pursuant to the
Underlying Securities Indenture, the redemption proceeds will be distributed pro
rata to the holders of the Underlying Securities, including the Trust. Upon any
such redemption

                                       16
<PAGE>

in part, the Trustee shall select by lot (or by such other reasonable procedure
as may be established by the Trustee) a stated amount of Certificates equal to
the aggregate stated amount of Certificates then outstanding multiplied by the
aggregate principal amount of Underlying Securities subject to redemption and
then held by the Trust divided by the aggregate principal amount of Underlying
Securities then held by the Trust; provided that the amount of Trust
Certificates being selected by lot may be reduced by the aggregate stated amount
of Trust Certificates called pursuant to the exercise of Call Rights prior to
such redemption in accordance with the terms of the Warrant Agreement. Upon
receiving the redemption proceeds distributed to the Trust, the Trustee shall
distribute the proceeds pro rata to the Certificateholders entitled to such
proceeds upon the date such proceeds are received in immediately available funds
by the Trust if such proceeds are received prior to 1:00 p.m. local time at the
office of the Trustee and otherwise on the next Business Day. Upon distribution
of the redemption proceeds by the Trustee, the Trust Certificates called
pursuant to the exercise of Call Rights and the Trust Certificates selected by
lot pursuant to this subsection shall be deemed to have been surrendered for
cancellation by the Trust, and the aggregate stated amount of the outstanding
Trust Certificates shall be reduced by the aggregate stated amount of such Trust
Certificates; provided that the right of a Certificateholder to receive the Call
Price will not be affected by any such deemed surrender. Payment of redemption
proceeds with respect to the Certificates will be made to the Call Holder
exercising the Call Rights.

                  (c) The Call Terms are as follows:

                  (i) The initial holders of the Call Rights are as named in the
         Call Warrants and such holders may transfer the Call Rights, in whole
         or in part, to one or more third parties in privately negotiated
         transactions;

                  (ii) A Call Holder that has met the exercise requirements set
         forth in paragraph (c)(iii) of this Section 14 may, on the Call Date,
         exercise its option to purchase, in whole or in part, a principal
         amount of Certificates proportionate to such Call Holder's exercised
         Call Warrants, in Authorized Denominations of Certificates at the Call
         Price;

                  (iii) In order to exercise its Call Right on a Call Date, a
         Call Holder must, not less than 30 days (or not less than three days in
         the case of an announcement of any redemption of the Underlying
         Securities or other unscheduled payment of the Underlying Securities or
         after receipt of notice of termination of the Trust or not less than
         five Business Days prior to the expiration of a tender offer for the
         Underlying Securities) but not more than 60 days prior to such Call
         Date:

                           (1) notify the Trustee in writing of its intention to
                  exercise such Call Right (which notice is irrevocable, subject
                  to Section 2.02(i)(v) of the Warrant Agreement) and whether
                  such exercise is in connection with a tender offer for the
                  Underlying Securities. In the event that such notice is
                  provided in connection with a tender offer for the Underlying
                  Securities, if the exercising Holder did not receive from the
                  Warrant Agent notice of a Tender Offer, then such Holder shall
                  also provide the Warrant Agent with any information the Holder
                  may have from a third-party source indicating that such Tender
                  Offer is pending.

                                       17
<PAGE>

                           (2) deposit the Call Price with the Escrow Agent (the
                  "Escrow Deposit") to be held in escrow pursuant to an Escrow
                  Agreement reasonably satisfactory to the Trustee and
                  substantially in the form attached hereto as Exhibit D (to be
                  entered into immediately preceding delivery of the Call Price
                  by such Call Holder to the Escrow Agent) until such Call Price
                  is paid by the Trustee to the Certificateholders in accordance
                  with paragraph (d) of this Section 14 or returned to the
                  exercising Holders pursuant to subsection (i) of Section 2.02
                  of the Warrant Agreement; provided, that if all of the
                  outstanding Trust Certificates are to be purchased pursuant to
                  the exercise of the Warrants on an Exercise Date and the
                  exercising Call Holder at such time holds Certificates that
                  are subject to Call Rights, the Call Holder may deposit such
                  Certificates with the Escrow Agent in lieu of the portion of
                  the Call Price that would relate thereto.

                           (3) provide the Trustee with any other documents
                  customary for a transaction of this nature, including a
                  certificate of the Call Holder certifying the solvency of such
                  Call Holder on such date; provided that the Call Holder need
                  not provide any such solvency certificate if the rating of the
                  senior, unsecured long-term debt of the Call Holder, or the
                  Call Holder's credit support provider, if applicable, by
                  Moody's and S&P is in one of the investment grade categories
                  of Moody's and S&P, respectively, on such date.

The provisions of this Section 14(c)(iii)(1) through (3) shall not apply if
Warrants are being exercised upon an acceleration of the Underlying Securities
and payment in full by the Underlying Securities Issuer of all amounts due upon
such acceleration.

                  (d) In connection with any exercise of the Call Rights, the
Trustee shall select by lot (or by such other reasonable procedure as may be
established by the Trustee) a stated amount of the outstanding Certificates to
be surrendered by the Certificateholders thereof to the Trustee upon any such
exercise (other than Trust Certificates held by any Person to whom a Delivery
Certificate was delivered in accordance with Section 2.02(d) of the Warrant
Agreement, as evidenced by the registration of such Delivery Certificate in the
Delivery Register in accordance with Section 4.01 of the Warrant Agreement),
deliver such Certificates to the exercising Call Holder and the proceeds of the
Call Price shall be distributed pro rata among such Certificateholders on the
Call Date in accordance with the provisions of the Warrant Agreement. Upon
distribution of the applicable Call Price, the Trust Certificates called
pursuant to the exercise of Call Rights shall be deemed to have been surrendered
and such Trust Certificates shall be transferred to the Call Holder; provided
that the right of a Certificateholder to receive the Call Price will not be
affected by any such deemed surrender.

                  (e) The rights of the Certificateholders under the Trust
Agreement and the Certificates are limited by the terms, provisions and
conditions of the Trust Agreement and the Warrant Agreement with respect to the
exercise of the Call Rights by the Call Holder. The Certificateholders, by their
acceptance of Certificates, covenant and agree to tender any and all
Certificates to the Warrant Agent upon the Call Holder's exercise of Call Rights
and deposit of the Call Price with the Escrow Agent for such Certificates in
accordance with the applicable procedures in the Warrant Agreement.

                                       18
<PAGE>

                  (f) Upon receipt of a notice of a tender offer for the
Underlying Securities, the Trustee shall deliver notice of the tender offer to
the Warrant Agent and holders of Delivery Certificates (as defined in Section
2.02(d) of the Warrant Agreement) within two Business Days after receipt of
notice from the Tender Offeror (as defined in the Warrant Agreement). Within two
Business Days of the expiration of the period for validly delivering tender
offer exercise notices pursuant to Section 2.02(i)(i) of the Warrant Agreement,
the Trustee shall, after giving effect to the exercise of Call Rights with
respect to Trust Certificates already held by the Call Holder, as set forth in
the Warrant Agreement, (A) select by lot (or by such other reasonable procedure
as may be established by the Trustee) a stated amount of Certificates equal to
the aggregate stated amount of Certificates not subject to Delivery Certificates
then outstanding multiplied by the aggregate principal amount of Call Rights
being exercised divided by the aggregate principal amount of the outstanding
Call Rights and (B) notify the Certificateholders of the selected Certificates
that, subject to Section 2.02(i) of the Warrant Agreement, such Certificates
will be purchased on the Call Date. Upon the Trustee's receipt of the tender
offer proceeds, the Call Price will be distributed pursuant to Section 2.02(e)
and Section 2.02(i)(vi) of the Warrant Agreement pro rata to the
Certificateholders whose Certificates have been purchased and the tender offer
proceeds will be distributed by the Trustee pro rata to the exercising Call
Holders pursuant to Section 2.02(i) of the Warrant Agreement. Upon distribution
of the Call Price and tender offer proceeds, the Trust Certificates called
pursuant to the exercise of Call Rights shall be deemed to have been surrendered
for cancellation by the Trustee and the aggregate stated amount of the
outstanding Trust Certificates shall be reduced by the aggregate stated amount
of such Trust Certificates; provided that the right of a Certificateholder to
receive the Call Price will not be affected by any such deemed surrender.

                  Section 15. Amendments. Notwithstanding anything in the Trust
Agreement to the contrary, in addition to the other restrictions on modification
and amendment contained herein, the Trustee shall not enter into any amendment
or modification of the Trust Agreement that would adversely affect in any
material respect the interests of the Certificateholders or the Call Holders
without the consent of 100% of such Certificateholders or Call Holders, as the
case may be; provided, however, that no such amendment or modification will be
permitted if the Trustee has been advised by the Depositor that such amendment
or modification would alter the status of the Trust as a "grantor trust" for
federal income tax purposes. Further, no amendment shall be permitted pursuant
to paragraphs (vi), (vii) and (x) of Section 11.01(a) of the Standard Terms
without prior written confirmation by each Rating Agency that such amendment
will not result in a downgrading or withdrawal of its rating of the
Certificates. The Trustee may consult with counsel and shall be entitled to rely
upon an Opinion of Counsel for purposes of determining compliance with the
provisions of this Section 15.

                  Section 16. Voting of Underlying Securities, Modification of
Indenture. The Trustee, as holder of the Underlying Securities, has the right to
vote and give consents and waivers in respect of the Underlying Securities as
permitted by the Depository and except as otherwise limited by the Trust
Agreement. In the event that the Trustee receives a request from the Depository,
the Underlying Securities trustee or the Underlying Securities Issuer for its
consent to any amendment, modification or waiver of the Underlying Securities,
the Underlying Securities Indenture or any other document thereunder or relating
thereto, or receives any other solicitation for any action with respect to the
Underlying Securities, the Trustee shall mail a notice of such proposed
amendment, modification, waiver or solicitation to each

                                       19
<PAGE>

Certificateholder of record as of such date. The Trustee shall request
instructions from the Certificateholders as to whether or not to consent to or
vote to accept such amendment, modification, waiver or solicitation. The Trustee
shall consent or vote, or refrain from consenting or voting, in the same
proportion (based on the relative outstanding principal balances of the
Certificates) as the Certificates of the Trust were actually voted or not voted
by the Certificateholders thereof as of a date determined by the Trustee prior
to the date on which such consent or vote is required; provided, however, that,
notwithstanding anything in the Trust Agreement to the contrary, the Trustee
shall at no time vote on or consent to any matter (i) unless such vote or
consent would not (based on an Opinion of Counsel) alter the status of the Trust
as a "grantor trust" for federal income tax purposes or result in the imposition
of tax upon the Certificateholders, or (ii) that would alter the timing or
amount of any payment on the Underlying Securities, including, without
limitation, any demand to accelerate the Underlying Securities, except in the
event of a default under the Underlying Securities or an event that with the
passage of time would become an event of default under the Underlying Securities
and with the consent of 100% of the Certificateholders and 100% of the Call
Holders, or (iii) that would result in the exchange or substitution of any of
the outstanding Underlying Securities pursuant to a plan for the refunding or
refinancing of such Underlying Securities except in the event of a default under
the Underlying Securities Indenture and only with the consent of 100% of the
Certificateholders and 100% of the Call Holders. The Trustee shall have no
liability for any failure to act resulting from Certificateholders' or Call
Holders' late return of, or failure to return, directions requested by the
Trustee from the Certificateholders and Call Holders.

                  If an offer is made by the Underlying Securities Issuer to
issue new obligations in exchange and substitution for any of the Underlying
Securities, pursuant to a plan for the refunding or refinancing of the
outstanding Underlying Securities or any other offer is made for the Underlying
Securities, the Trustee shall notify the Certificateholders, the Call Holders
and the Rating Agencies of such offer promptly. Subject to Sections 7(b) and 14
in connection with a tender offer and the exercise of Call Rights or Optional
Exchange rights, the Trustee must reject any such offer unless the Trustee is
directed by the affirmative vote of 100% of the Certificateholders and 100% of
the Call Holders to accept such offer, the Trustee has received the tax opinion
described above and if the Trustee is so directed, the Trustee shall promptly
notify the Rating Agencies of such direction accompanied by evidence of the
affirmative vote of such Certificateholders and Call Holders.

                  If an event of default under the Underlying Securities
Indenture occurs and is continuing, and if directed by 100% of the
Certificateholders, the Trustee shall vote the Underlying Securities in favor of
directing, or take such other action as may be appropriate to direct, the
Underlying Securities trustee to declare the unpaid principal amount of the
Underlying Securities and any accrued and unpaid interest thereon to be due and
payable.

                  Section 17. Call Right Documentation. Simultaneously with the
execution hereof, the Depositor hereby directs the Trustee, in the name of and
on behalf of the Trust, to enter into a Warrant Agreement and any related
Warrant Certificates (as defined in the Warrant Agreement) evidencing the Call
Rights and to make representations contained therein on behalf of the Trust. At
the direction of the Depositor, the Trustee shall execute such further documents
as may be required to evidence any transfer of any or all of the rights,
interests or obligations under the Warrant Agreement and any related Warrant
Certificates.

                                       20
<PAGE>

                  Section 18. Third Party Beneficiary. The Escrow Agent and each
Call Holder shall be third party beneficiaries of this Trust Agreement.

                  Section 19. Nonpetition Covenant. Solely with respect to the
Trust and the Series and for no other purpose, Section 11.07 of the Standard
terms is hereby deleted and replaced with the following:

                  Section 11.07. Nonpetition Covenant. Notwithstanding any prior
termination of this Trust Agreement, each of the Trustee (including any
Administrative Agent, Authenticating Agent and Paying Agent) and the Depositor
agrees that it shall not, until the date which is one year and one day after the
termination of the PREFERREDPLUS Trust Series FAR-1, acquiesce, petition or
otherwise invoke or cause the Trust to invoke the process of the United States,
any State or other political subdivision thereof or any entity exercising
executive, legislative, judicial, regulatory or administrative functions of or
pertaining to government for the purpose of commencing or sustaining a case by
or against the Trust under a Federal or state bankruptcy, insolvency or similar
law or appointing a receiver, liquidator, assignee, trustee, custodian,
sequestrator or other similar official of such Trust or all or any part of the
property or assets of such Trust or ordering the winding up or liquidation of
the affairs of such Trust.

                  Section 20. Amendments to Standard Terms. Solely with respect
to the Trust and the Series and for no other purpose, the Standard Terms are
hereby amended as follows:

                  (a) Clause (iii) of Subsection (c) of Section 2.01 of the
Standard Terms shall be deleted and replaced with the following:

                  "at the time of delivery of the Underlying Securities,
         Depositor owns such Underlying Securities, has the right to transfer
         its interest in such Underlying Securities and such Underlying
         Securities are free and clear of any lien, pledge, encumbrance, right,
         charge, claim or other security interest (other than the lien created
         by this Trust Agreement); and"

                  (b) Subsection (e) of Section 2.01 of the Standard Terms shall
be deleted and replaced with the following:

                  "Any Trust created hereunder shall not engage in any business
         or activities other than in connection with, or relating to, the
         holding, protecting and preserving of the Deposited Assets and the
         issuance of the Certificates and, if applicable, Call Rights, and other
         than those required or authorized by this Trust Agreement or incidental
         to and necessary to accomplish such activities. Any Trust created
         hereunder shall not issue or sell any certificates or other obligations
         other than the Certificates or, if applicable, Call Rights or otherwise
         incur, assume or guarantee any indebtedness for money borrowed."

                  (c) Clause (v) of Subsection (b) of Section 4.08 of the
Standard Terms shall be deleted and replaced with the following:

                  "that Holders of Certificates receiving notice of Call Rights
         being exercised with respect to the Certificates held by them shall not
         be entitled to any interest on the Certificates for any period on and
         after the Call Date, and the only remaining right

                                       21
<PAGE>

         of Holders of such Certificates is to receive payment of the Call Price
         upon surrender of the Certificates to the Warrant Agent; and"

                  (d) The first sentence of subsection (d) of Section 4.08 of
the Standard Terms shall be deleted and replaced with the following:

                  "Once such notice is mailed to a Holder, such Holder shall not
         be entitled to any right as a Holder other than the right to receive
         payment of the Call Price on the Call Date and the Certificates subject
         to the Call Right shall be deemed to have been automatically
         surrendered to the Trust for further transfer to the holder exercising
         its Call Right."

                  (e) Subsection (e) of Section 4.08 of the Standard Terms shall
be deleted and replaced with the following:

                  "Subject to Section 2.02(a)(i) of the Warrant Agreement, at or
         prior to 12:00 noon on the Call Date, the holder of the Call Right to
         be exercised shall deposit with the Escrow Agent by wire transfer in
         same-day funds money sufficient to pay the Call Price of the
         Certificates to be purchased on that date."

                  (f) Subsection (f) of Section 4.08 of the Standard Terms shall
be deleted and replaced with the following:

                  "This subsection has been intentionally left blank."

                  (g) Subsection (g) of Section 4.08 shall be deleted and
replaced with the following:

                  "Upon surrender of any Certificate that is purchased in part,
         the Depositor shall execute and the Trustee shall authenticate and
         deliver to the Holder a new Certificate equal in principal amount to
         the portion of such surrendered Certificate not purchased."

                                       22
<PAGE>

                  IN WITNESS WHEREOF, the parties hereto have caused this
Supplement to be duly executed by their respective authorized officers as of the
date first written above.

                                                 Merrill Lynch Depositor, Inc.,
                                                 as Depositor

                                                 By:
                                                     ---------------------------
                                                 Name:    Barry N.  Finkelstein
                                                 Title:   President

                                                 The Bank of New York,
                                                 not in its individual capacity
                                                 but as Trustee

                                                 By:
                                                     ---------------------------
                                                 Name:    Fernando Acebedo
                                                 Title:   Authorized Signatory

                                                 The Bank of New York,
                                                 as Securities Intermediary

                                                 By:
                                                     ---------------------------
                                                 Name:    Fernando Acebedo
                                                 Title:   Authorized Signatory

                                       23
<PAGE>

SCHEDULE I

              PREFERREDPLUS 7.55% TRUST CERTIFICATES, SERIES FAR-1
                         UNDERLYING SECURITIES SCHEDULE

Underlying Securities:              1,800,000 7.55% Senior Debentures due April
                                    1, 2028 of the Underlying Securities Issuer.

Underlying Securities Indenture:    Indenture dated as of April 7, 1998, between
                                    the Underlying Securities Issuer, and the
                                    Underlying Securities Trustee.

Underlying Securities Issuer:       First American Corporation, a California
                                    corporation, formerly known as First
                                    American Financial Corporation.

Underlying Securities Trustee:      Wilmington Trust Company

Underlying Securities               318522AA77.
CUSIP Number:

Underlying Securities               April 2, 1998.
Original Issue Date:

Underlying Securities               100,000,000 7.55% Senior Debentures due
Original Amount Issued:             April 1, 2028.

Underlying Securities               333-47755.
Commission Filing Number:

Underlying Securities               April 1, 2028.
Maturity Date:

Underlying Securities               April 1, 2028.
Principal Payment Date:

Underlying Securities               April 1 and October 1, or if any such date
Interest Payment Dates:             is not a business day, then the next
                                    succeeding business day to the persons in
                                    whose names the Underlying Securities are
                                    registered at the close of business on the
                                    first day of the month of the relevant
                                    interest payment date, subject to certain
                                    exceptions.

Underlying Securities               7.55 % per year.

<PAGE>

Interest Rate:

Underlying Securities               April 1 and October 1.
Record Dates:

Underlying Securities               In certain circumstances summarized in the
Redemption:                         Prospectus Supplement, the Underlying
                                    Securities are redeemable at the option of
                                    the Underlying Securities Issuer, in whole
                                    or in part, at any time at a redemption
                                    price equal to the sum of (i) the principal
                                    amount of the underlying securities to be
                                    redeemed and (ii) the present values of the
                                    remaining scheduled payments of interest on
                                    the underlying securities to be redeemed,
                                    exclusive of interest accrued to the
                                    redemption date, discounted to the date of
                                    redemption on a semi-annual basis (assuming
                                    a 360-day year consisting of twelve 30-day
                                    months) at the applicable Treasury Rate (as
                                    defined in the Prospectus Supplement) plus
                                    20 basis points, plus, in each case, accrued
                                    and unpaid interest on the principal amount
                                    being redeemed to the date of redemption.
                                    Holders of the underlying securities to be
                                    redeemed will receive at least 30 days but
                                    not more than 60 days notice of that
                                    redemption.

Underlying Securities               None.
Collateral:

Underlying Securities               None.
Amortization:

Underlying Securities               Semi-annual.
Accrual Periods:

Underlying Securities               The Underlying Securities are denominated
Authorized Denomination             and payable in U.S. dollars and are
and Specified Currency:             available in minimum denominations of $1,000
                                    and multiples thereof.

Underlying Securities               "BBB" by S&P and "Baa2" by Moody's.
Rating as of Closing:

Underlying Securities Form:         Book-entry security with DTC.

<PAGE>

EXHIBIT A

                       Standard Terms for Trust Agreements

                              (begins on next page)

<PAGE>

EXHIBIT B

                               Form of Certificate

                              (begins on next page)

<PAGE>

EXHIBIT C

                             Market Agent Agreement

                              (begins on next page)

<PAGE>

EXHIBIT D

                            Form of Escrow Agreement

                              (begins on next page)Form of Corporate Agreement

  
 Exhibit 10.2 
  
 CORPORATE AGREEMENT 
  
 THIS CORPORATE
AGREEMENT (“Agreement”) is entered into as of                     , 2002, by and between CONSTAR INTERNATIONAL INC., a Delaware corporation
(“Constar”), and CROWN CORK & SEAL COMPANY, INC., a Pennsylvania corporation (“Crown”). 
  
 RECITALS

  
 A.  Crown owns all of the issued and outstanding Common Stock of Constar. 
  
 B.  Crown and Constar are contemplating that an initial public offering will be made of the capital stock of Constar (the
“Initial Public Offering”). 
  
 C.  The parties desire to enter into this Agreement to set forth
their agreement regarding allocation of liabilities, certain releases from liabilities, indemnification and other matters. 
  
 AGREEMENTS 
  
 NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, Constar and Crown, for themselves and their successors and assigns, hereby agree as follows: 
  
 ARTICLE I 
  
 DEFINITIONS 
  
 1.1.  Definitions. 
  
 As used in this Agreement, the following terms will have the following meanings, applicable both to the singular and the plural forms of the terms described: 
  
 “Action” means any claim, suit, action, arbitration, inquiry, investigation or other proceeding of any nature (whether criminal, civil,
legislative, administrative, regulatory, prosecutorial or otherwise) by or before any arbitrator or Governmental Entity. 
  
 “Actual Recovery” has the meaning ascribed thereto in Section 5.3(d). 
  
 “Affiliate” means, with respect to a given Person, any Person controlling, controlled by or under common control with such Person; provided, however, that in no event shall (i) any of the Crown Entities be deemed to
be Affiliates of any of the Constar Entities and (ii) any of the Constar Entities be deemed to be Affiliates of any of the Crown Entities. 
  
 “Agreement” has the meaning ascribed thereto in the preamble hereto. 
  

 “Ancillary Agreements” means the Alsip Lease Agreement, the Benefits Allocation Agreement, the
Closures Patent License Agreement, the FABA Supply Agreement, the Newark Component Supply and Lease of Related Assets Agreement, the Non-Competition Agreement, the Patent License Agreement, the Philadelphia Lease Agreement, the License and Royalty
Sharing Agreement, the Research and Development Agreement, the Salt Lake City PET Products Supply and Lease of Related Assets Agreement, the Tax Sharing and Indemnification Agreement, the Technical Services Agreement, the Transition Services
Agreement, the Voghera PET Preform Supply and Lease of Related Assets Agreement and all other agreements entered into between any Constar Entity and any Crown Entity in connection with the Initial Public Offering. 
  
 “Alsip Lease Agreement” means the Alsip Lease Agreement, dated as of
            , 2002, between Crown Cork & Seal Technologies Corporation and Constar, Inc. 
  
 “Benefits Allocation Agreement” means the Benefits Allocation Agreement, dated as of
            , 2002, between Constar and Crown. 
  
 “Closures Patent License Agreement” means the Closures Patent License Agreement, dated as of             , 2002, between Crown Cork & Seal Technologies
Corporation and Constar International UK Limited. 
  
 “Common Advisors” has the meaning
ascribed thereto in Section 2.1(a). 
  
 “Confidential Information” has the meaning ascribed
thereto in Section 3.1(a). 
  
 “Constar” has the meaning ascribed thereto in the preamble
hereto. 
  
 “Constar Board” means the Board of Directors of Constar. 

 
 “Constar Bylaws” means the bylaws of Constar, as amended. 
  
 “Constar Charter” means the certificate of incorporation of Constar, as amended. 
  
 “Constar Entities” means (i) Constar, (ii) Constar, Inc., (iii) Constar International UK Limited, (iv) Constar
International Holland (Plastics) B.V., (v) Constar Plastics of Italy S.R.L., (vi) Constar Plastics, LLC, (vii) Constar Ambalaj Sanayi Ve Ticaret A.S., (viii) DT, Inc., (ix) BFF Inc., (x) any Constar Equity-Interest Entities and (xi) entities which
become Affiliates of Constar after the completion of the Initial Public Offering, other than solely by becoming Affiliates of Crown; and “Constar Entity” means any of the Constar Entities. “Constar Entities” shall not include
Crown. 
  
 “Constar Entity Liabilities” means all Liabilities, whether arising before, at
or after the Initial Public Offering Date, (i) of or in any way relating, in whole or in part, to any Constar Entity, including, without limitation, all Liabilities relating, in whole or in part, to any asset owned by a Constar Entity as of the
Initial Public Offering Date after giving effect to the
 

 
 2 

 
transactions contemplated by the Registration Statement (whether such asset was transferred to the Constar Entity by any Crown Entity or otherwise acquired by the Constar Entity) or (ii) arising
from the conduct of, in connection with or in any way relating to, in whole or in part, the past, present or future businesses and operations of the Constar Entities or the ownership or use of assets or property in connection therewith; provided,
that liabilities retained by Crown pursuant to the Benefits Allocation Agreement shall be deemed to be Crown Entity Liabilities and not Constar Entity Liabilities. 
  
 “Constar Equity Interest Entity” means any Person in which Constar has an equity interest but which is not a Subsidiary of Constar. 

 
 “Constar Indemnitee” has the meaning ascribed thereto in Section 5.2. 
  
 “Control,” “controlled by” and “under common control with,” as applied to any Person, means
the possession, directly or indirectly, of the power to direct the vote of a majority of the votes that may be cast in the election of directors (or other Persons acting in similar capacities) of such Person or otherwise to direct or cause the
direction of the management and policies of such Person, whether through the ownership of voting securities or by contract or otherwise. 
  
 “Controlled Affiliate” means, with respect to any Person, one or more of such Person’s Affiliates that is directly or indirectly controlled by such Person. 
  
 “Corporate Opportunity” means an investment or business opportunity or prospective economic or competitive
advantage in which Constar or any Constar Entity or other Person in which Constar has an equity interest could have an interest or expectancy. 
  
 “Crown” has the meaning ascribed thereto in the preamble hereto. 
  
 “Crown Entities” means Crown and Affiliates of Crown (other than Affiliates that constitute Constar Entities); and “Crown Entity” means any of the Crown Entities. 
  
 “Crown Entity Liabilities” means all Liabilities, whether arising before, at or after the Initial Public
Offering Date, (i) of or in any way relating, in whole or in part, to any Crown Entity, including, without limitation, all Liabilities relating, in whole or in part, to any asset owned by a Crown Entity as of the Initial Public Offering Date after
giving effect to the transactions contemplated by the Registration Statement (whether such asset was transferred to the Crown Entity by any Constar Entity or otherwise acquired by the Crown Entity) or (ii) arising from the conduct of, in connection
with or in any way relating to, in whole or in part, the past, present or future businesses and operations of the Crown Entities or the ownership or use of assets or property in connection therewith; provided, that (x) in no event shall any
Constar Entity Liability be deemed to be a Crown Entity Liability and (y) liabilities assumed by any Constar Entity pursuant to the Benefits Allocation Agreement shall be deemed to be Constar Entity Liabilities and not Crown Entity Liabilities.

 
 3 

  
 “Crown Indemnitee” has the meaning ascribed thereto in
Section 5.1. 
  
 “Exchange Act” means the Securities Exchange Act of 1934, as amended, or
any successor statute. 
  
 “FABA Supply Agreement” means the FABA Supply Agreement, dated
as of             , 2002, between FABA Sirma S.p.A. and Constar Plastics of Italy S.R.L. 
  
 “Final Prospectus” has the meaning ascribed thereto in Section 5.1(c). 
  
 “Finally Determined” means, with respect to any Action, threatened Action or other matter, that the outcome or resolution of that Action,
threatened Action or matter has either (i) been decided by an arbitrator or Governmental Entity of competent jurisdiction by judgment, order, award or other ruling or (ii) has been settled or voluntarily dismissed and, in the case of each of clauses
(i) and (ii), the claimants’ rights to maintain that Action, threatened Action or other matter have been finally adjudicated, waived, discharged or extinguished, and that judgment, order, ruling, award, settlement or dismissal (whether
mandatory or voluntary, but if voluntary that dismissal must be final, binding and with prejudice as to all claims specifically pleaded in that Action) is subject to no further appeal, vacatur proceeding or discretionary review. 

 
 “Group” shall mean, the Constar Entities, in the case of Constar, and the Crown Entities, in the case
of Crown. 
  
 “Governmental Entity” means any government or any state, department or other
political subdivision thereof, or any governmental body, agency, authority (including, without limitation, any central bank or taxing authority) or instrumentality (including, without limitation, any court, tribunal or grand jury) exercising
executive, prosecutorial, legislative, judicial, regulatory or administrative functions of or pertaining to government. 
  
 “Indemnified Party” has the meaning ascribed thereto in Section 5.4. 
  
 “Indemnifying Party” has the meaning ascribed thereto in Section 5.4. 
  
 “Information” has the meaning ascribed thereto in Section 3.2(a). 
  
 “Initial Public Offering” has the meaning ascribed thereto in the recitals to this Agreement. 
  
 “Initial Public Offering Date” means the date of completion of the initial sale of Common Stock in the Initial Public Offering. 
  
 “Liabilities” means any and all claims, debts, liabilities, assessments, fines, penalties, damages, losses, disgorgements and obligations, of any
kind, character or description (whether absolute, contingent, matured, not matured, liquidated, unliquidated, accrued, known, 

 
 4 

 
unknown, direct, indirect, derivative or otherwise) whenever arising, including, without limitation, all costs and expenses relating thereto (including, without limitation, all expenses of
investigation, all attorneys’ fees and all out-of-pocket expenses in connection with any Action or threatened Action). 
  
 “License and Royalty Sharing Agreement” means the License and Royalty Sharing Agreement, dated as of             , 2002 between
Constar and Crown Cork & Seal Technologies Corporation. 
  
 “Newark Component Supply and
Lease of Related Assets” means the Newark Component Supply and Lease of Related Assets Agreement, dated as of             , 2002, between Crown Cork & Seal Company (USA) Inc. and
Constar, Inc. 
  
 “Non-Competition Agreement” means the Non-Competition Agreement, dated as
of             , 2002, between Constar and Crown. 
  
 “Patent License Agreement” means the Patent License Agreement, dated as of             , 2002, between Crown and Constar. 
  
 “Person” means any individual, partnership, limited liability company, joint venture, corporation, trust,
unincorporated organization, government (and any department or agency thereof) or other entity. 
  
 “Philadelphia Lease Agreement” means the Philadelphia Lease Agreement, dated as of             , 2002, between Crown and Constar, Inc. 
  
 “Privilege” has the meaning ascribed thereto in Section 2.3(a). 
  
 “Privileged Information” has the meaning ascribed thereto in Section 2.3(a). 
  
 “Registration Statement” has the meaning ascribed thereto in Section 5.1(c). 
  
 “Representative” means, with respect to any Person, each of such Person’s directors, officers, employees,
representatives, attorneys, accountants, advisors and agents and each of the heirs, executors and assigns of any of the foregoing. 
  
 “Research and Development Agreement” means the Research and Development Agreement, dated as of             , 2002, between Crown
Cork & Seal Technologies Corporation, CarnaudMetalbox plc and Constar. 
  
 “Salt Lake City
PET Products Supply and Lease of Related Assets Agreement” means the Salt Lake City PET Products Supply and Lease of Related Assets Agreement, dated as of             , 2002, between
Crown Cork & Seal Company (USA) Inc. and Constar, Inc. 
  
 “SEC” means the United
States Securities and Exchange Commission. 

 
 5 

  
 “Securities Act” means the Securities Act of 1933, as
amended, or any successor statute. 
  
 “Subsidiary” means, as to any Person, any
corporation, association, partnership, joint venture or other business entity of which the power to direct the vote of the majority of the votes that may be cast in the election of directors (or other Persons acting in similar capacities) is held or
controlled, directly or indirectly, by such Person or by one or more of the Subsidiaries of such Person or by a combination thereof. “Subsidiary,” when used with respect to Crown or Constar, shall also include any other entity affiliated
with Crown or Constar, as the case may be, that Crown and Constar may hereafter agree in writing shall be treated as a “Subsidiary” for the purposes of this Agreement. 
  
 “Tax Sharing and Indemnification Agreement” means the Tax Sharing and Indemnification Agreement, dated as of
            , 2002, between Constar and Crown. 
  
 “Technical Services Agreement” means the Technical Services Agreement, dated as of             , 2002, between Constar and Crown. 
  
 “Third-Party Claim” has the meaning ascribed thereto in Section 5.5. 
  
 “Transition Services Agreement” means the Transition Services Agreement, dated as of
            , 2002, between Constar and Crown. 
  
 “Voghera PET Preform Supply and Lease of Related Assets Agreement” means the Voghera PET Preform Supply and Lease of Related Assets Agreement, dated as of
            , 2002, between Crown Cork Italy S.p.A and Constar Plastics of Italy S.R.L. 
  
 1.2.  Internal References.    Unless the context indicates otherwise, references to Articles, Sections and paragraphs shall refer to the corresponding articles,
sections and paragraphs in this Agreement and references to the parties shall mean the parties to this Agreement. 
  
 ARTICLE II 
  
 MUTUAL RELEASES; PRIVILEGE MATTERS 
  
 2.1.  Release of Pre-Initial Public Offering Claims.    (a)  Except as provided in Section
2.1(c), Constar does hereby, for itself and its successors and assigns, and shall cause each member of its Group over which it has legal or effective direct or indirect control to, for itself and its respective successors and assigns, (i) remise,
release and forever discharge the Crown Entities, their respective Affiliates, successors and assigns, and each of their respective directors, officers, employees, agents, consultants, advisors, accountants, attorneys and representatives and their
respective heirs, executors, administrators, successors and assigns, from any and all Liabilities whatsoever (including, without limitation, any Liabilities arising out of the acknowledgments and agreements set forth in Section 2.2), whether at law
or in equity (including any right of contribution), whether arising under any contract or agreement, by operation of law
 

 
 6 

 
or otherwise, existing or arising from any acts or events occurring or failing to occur or alleged to have occurred or to have failed to occur or any conditions existing or alleged to have
existed on or before the Initial Public Offering Date, including in connection with the actions or decisions taken or omitted to be taken in connection with, and the other activities relating to, the structuring or implementation of the Initial
Public Offering (including, without limitation, the entering into of this Agreement and the Ancillary Agreements) and (ii) acknowledge and agree with Crown that both parties (or the applicable member or members of either of their respective Groups,
as the case may be) were represented by, or consulted with, common consultants, advisors, accountants, attorneys and representatives in connection with the actions or decisions taken or omitted to be taken in connection with, and the other
activities relating to, the structuring or implementation of the Initial Public Offering (including, without limitation, the entering into of this Agreement and the Ancillary Agreements)(“Common Advisors”). 
  
 (b)  Except as provided in Section 2.1(c), Crown does hereby, for itself and its successors and assigns, and shall cause each
member of its Group over which it has legal or effective direct or indirect control to, for itself and its respective successors and assigns, (i) remise, release and forever discharge the Constar Entities, their respective Affiliates, successors and
assigns, and each of their respective directors, officers, employees, agents, consultants, advisors, accountants, attorneys and representatives and their respective heirs, executors, administrators, successors and assigns, from any and all
Liabilities whatsoever (including, without limitation, any Liabilities arising out of the acknowledgments and agreements set forth in Section 2.2), whether at law or in equity (including any right of contribution), whether arising under any contract
or agreement, by operation of law or otherwise, existing or arising from any acts or events occurring or failing to occur or alleged to have occurred or to have failed to occur or any conditions existing or alleged to have existed on or before the
Initial Public Offering Date, including in connection with the actions or decisions taken or omitted to be taken in connection with, and the other activities relating to, the structuring or implementation of the Initial Public Offering (including,
without limitation, the entering into of this Agreement and the Ancillary Agreements) and (ii) acknowledge and agree with Constar that both parties (or the applicable member or members of either of their respective Groups, as the case may be) were
represented by, or consulted with, Common Advisors in connection with the actions or decisions taken or omitted to be taken in connection with, and the other activities relating to, the structuring or implementation of the Initial Public Offering
(including, without limitation, the entering into of this Agreement and the Ancillary Agreements). 
  
 (c)  Nothing contained in Section 2.1(a) or (b) shall impair any right of any Person to enforce this Agreement or the Ancillary Agreements, or any agreements, arrangements, commitments or understandings that by their terms
continue beyond the Initial Public Offering Date, in each case in accordance with its terms. Without limiting the foregoing, nothing contained in Section 2.1(a) or (b) shall release any Constar Entity from any Constar Entity Liability, any Crown
Entity from any Crown Entity Liability, or any Person from: 
  
 (i)  any Liability that the
parties or any member of their respective Groups may have with respect to indemnification or contribution pursuant to this Agreement or
 

 
 7 

 
any Ancillary Agreement, which Liability shall be governed by the provisions of Article III, or, if applicable, by the appropriate provisions of the Ancillary Agreements; 
  
 (ii)  any Liability, contingent or otherwise, assumed, transferred, assigned or allocated to the Group of which
such Person is a member in accordance with, or any other Liability of any member of either Group under, this Agreement or any Ancillary Agreement; 
  
 (iii)  any Liability for the sale, lease, construction or receipt of goods, property or services in the ordinary course of business by any Crown
Entity from any Constar Entity, on the one hand, or by any Constar Entity from any Crown Entity, on the other hand, prior to the Initial Public Offering Date, or any refunds or other payments due in respect thereof; or 
  
 (iv)  any Liability the release of which would result in the release of any Person other than a Person
specifically released pursuant to this Section 2.1. 
  
 (d)  Constar shall not make, and shall not permit
any other Constar Entity to make, any claim or demand, or commence any Action asserting any claim or demand, including any claim of contribution or any indemnification, against any Crown Entity, or any other Person released pursuant to Section
2.1(a), with respect to any Liabilities released pursuant to Section 2.1(a). Crown shall not, and shall not permit any other Crown Entity, to make any claim or demand, or commence any Action asserting any claim or demand, including any claim of
contribution or any indemnification, against any Constar Entity, or any other Person released pursuant to Section 2.1(b), with respect to any Liabilities released pursuant to Section 2.1(b). 
  
 (e)  It is the intent of each of Crown and Constar by virtue of the provisions of this Section 2.1 to provide for a full and complete release and discharge of all
Liabilities existing or arising from all acts and events occurring or failing to occur or alleged to have occurred or to have failed to occur and all conditions existing or alleged to have existed on or before the Initial Public Offering Date,
between or among any Constar Entity, on the one hand, and any Crown Entity, on the other hand (including any contractual agreements or arrangements existing or alleged to exist between or among any such Persons on or before the Initial Public
Offering Date), except as expressly set forth in Section 2.1(c). At any time, at the request and expense of any other party, each party shall cause each member of its respective Group to execute and deliver releases reflecting the provisions hereof.

  
 2.2.  Agreements Not at Arm’s Length; Waiver of Conflicts Regarding Common
Advisors.    Each of the parties hereto does hereby, for itself and its respective successors and assigns, and shall cause the members of its Group over which it has legal or effective direct or indirect control to, for
itself and its respective successors and assigns, (i) acknowledge and agree (a) that this Agreement and the Ancillary Agreements have been made in the context of a parent-subsidiary relationship and have been negotiated in the overall context of the
Initial Public Offering, (b) that this Agreement and the Ancillary Agreements are not on arm’s length terms and are not representative of the terms that either party or any member of its Group might have
 

 
 8 

 
reached with unaffiliated third parties or of the terms of future agreements that either party or any member of its Group may enter into with unaffiliated third parties and (c) not to seek (x) to
disqualify any Common Advisor because of any common representation, including, without limitation, the common representations described in Sections 2.1(a)-(b), or (y) at any time assert any conflict on interest with respect thereto, and (ii) forever
remise, release and forever discharge all claims against all Common Advisors, and their respective heirs, executors, administrators, successors and assigns, arising from the commonality of such representations described in Sections 2.1(a)-(b) or any
conflicts arising therefrom. 
  
 2.3.  Privilege Matters.    (a)  Each
of the parties hereto shall, and shall cause the members of its Group over which it has legal or effective direct or indirect control to, use its reasonable efforts to maintain, preserve, protect and assert all privileges including, without
limitation, all privileges arising under or relating to the attorney-client relationship (including without limitation the attorney-client and attorney work product privileges) that relate directly or indirectly to any member of the other Group for
any period prior to the Initial Public Offering Date (“Privilege” or “Privileges”). Each of the parties hereto shall use its reasonable efforts not to waive, or permit any member of its Group over which it has legal or effective
direct or indirect control to waive, any such Privilege that could be asserted under applicable law without the prior written consent of the other party. With respect to each party, the rights and obligations created by this Section 2.3 shall apply
to all information as to which a member of any Group did assert or, but for the Initial Public Offering, would have been entitled to assert the protections of a Privilege (“Privileged Information”) including, without limitation, any and
all information that either: 
  
 (i)  was generated or received prior to the Initial Public
Offering Date but which, after the Initial Public Offering, is in the possession of a member of another Group; or 
  
 (ii)  is generated or received after the Initial Public Offering Date but refers to or relates to Privileged Information that was generated or received prior to the Initial Public Offering Date. 
  
 (b)  Upon receipt by a party or any member of its Group of any subpoena, discovery or other request that arguably calls for the
production or disclosure of Privileged Information, or if a party or any member of its Group obtains knowledge that any current or former employee of such party or any member of its Group has received any subpoena, discovery or other request which
arguably calls for the production or disclosure of Privileged Information, such party shall promptly notify the other parties of the existence of the request and shall provide the other party a reasonable opportunity to review the information and to
assert any rights it may have under this Section 2.3 or otherwise to prevent the production or disclosure of Privileged Information. No party will, or will permit any member of its Group over which it has direct or indirect legal or effective
control to, produce or disclose any information arguably covered by a Privilege under this Section 2.3 unless: 
  
 (i)  the other party has provided its express written consent to such production or disclosure; or 

 
 9 

  
 (ii)  a court of competent jurisdiction has entered an
order which is not then appealable or a final, nonappealable order finding that the information is not entitled to protection under any applicable privilege. 
  
 ARTICLE III 
  
 CERTAIN COVENANTS AND AGREEMENTS 

 
 3.1.  Confidentiality; Disclosures. 
  
 (a)  Confidentiality.    Each party agrees, and will cause the members of its Group over which it has legal or effective direct or
indirect control to, maintain (i) all information, whether in written, oral, electronic or other form, necessary for or utilized or received pursuant to any terms of this Agreement, as the case may be, including, without limitation, Information,
know-how, material, manufacturing, tooling and equipment specifications and other information necessary to carry out the terms of this Agreement, as the case may be (the “Confidential Information”), as secret and confidential and (ii) not
to disclose the Confidential Information to any third person or party (except for employees, counsel, contractors, customers, consultants or vendors who have a need to know and are informed of the confidential nature of such information by the
disclosing party). Each party shall accept responsibility and be liable for any disclosure by any third person of any Confidential Information disclosed to such third person by such party. Each party will, and will cause the members of its Group
over which it has legal or effective direct or indirect control to, use the same measures to maintain the confidentiality of the Confidential Information of any other party in its possession or control that it uses to maintain the confidentiality of
its own Confidential Information of similar type and importance. Notwithstanding the foregoing, either party or their Affiliates may describe this Agreement in, and include this Agreement with, filings with the U.S. Securities and Exchange
Commission and any related prospectuses, including such filings or prospectuses in connection with any offering of securities. Confidential Information will not include information that (i) is in or enters the public domain without breach of this
Agreement, or (ii) the receiving party lawfully receives from a third party without restriction on disclosure and, to the receiving party’s knowledge, without breach of a nondisclosure obligation. 
  
 (b)  Disclosure to Governmental Agency.    Notwithstanding the foregoing, each party and each member
of each party’s Group shall be permitted to disclose the Confidential Information and/or any portion thereof (i) to a governmental agency or authority as required in response to a subpoena therefor, (ii) in connection with formal requests for
discovery under applicable rules of civil procedure in a legal action before a court of competent jurisdiction to which such party is a party and (iii) as otherwise required by law; provided, however, that, in any such case, each party shall
notify the other party as early as reasonably practicable prior to disclosure to allow such party to take appropriate measures to preserve the confidentiality of such information at the expense of such party. 
  
 (c)  Ownership of Information.    All Confidential Information supplied or developed by either party
will be and remain the sole and exclusive property of the party who supplied or developed it. 

 
 10 

  
 (d)  Return of Confidential
Information.    Upon the written request of a party or a member of a party’s Group which has disclosed information covered by this Section 3.1 in written, printed or other tangible form, all such readily available
information, all copies thereof, including samples or materials, and all notes or other materials derived from such information shall be returned to the party or the member of a party’s Group which disclosed such information. 

 
 3.2.  Access to Information.    (a)(i)  Constar shall afford to Crown and its
authorized Representatives reasonable access and duplicating rights (with copying costs to be borne by Crown) during normal business hours to all books and records and documents, communications, items and matters (collectively,
“Information”) within the knowledge, possession or control of Constar or any Constar Entity relating to their respective businesses insofar as such access is reasonably required by Crown or any Crown Entity, as the case may be (and Constar
shall use reasonable efforts to cause Persons or firms possessing relevant Information to give similar access). 
  
 (b)  Crown shall afford to Constar and its authorized accountants, counsel and other designated Representatives reasonable access and duplicating rights (with copying costs to be borne by Constar) during normal business
hours to all Information within the knowledge, possession or control of Crown or any Crown Entity; provided, that such Information relates to Constar’s operations prior to the Initial Public Offering Date, insofar as such access is
reasonably required by Constar or any Constar Entity, as the case may be, for the purpose of operating their respective businesses (and Constar shall use reasonable efforts to cause Persons or firms possessing relevant Information to give similar
access). Crown shall also afford to Constar reasonable access and duplicating rights (with copying costs to be borne by Constar) during normal business hours to all World Class Performance documents or materials used by Constar prior to the Initial
Public Offering Date, and Constar shall have the right to use and to disseminate such World Class Performance documents or materials (including by electronic means) to its employees solely for Constar’s internal corporate purposes.

  
 3.3.  Financial Reporting.    Until further notice from Crown, Constar shall
cooperate fully, and request Constar’s outside advisors to cooperate fully, with Crown in connection with any of Crown’s regulatory filings and disclosures, including by providing Crown with such Information as Crown may require in
connection with its filings under the Securities Act and the Exchange Act no later than five full business days in advance of any SEC filing date applicable to Crown; provided, that the fees of such outside advisors with respect to such
cooperation will be paid by Crown. Notwithstanding the provisions of Sections 2.3 or 3.1, Crown may incorporate the Information that Constar provides to it in accordance with this Section 3.3 in Crown’s financial statements, and may disclose
such Information in any of Crown’s disclosures under the Securities Act or Exchange Act. 

 
 11 

  
 3.4.  Prohibition on Trading.    Crown will
not trade in Constar’s securities based on any material non-public information that it obtains from Constar under Section 3.2 or 3.3. 
  
 3.5.  Restrictions on Amendment of Certain Charter Provisions.    (a)  So long as any director, officer or employee of Crown is a director of the Constar Board, Constar shall
not amend or repeal Article 9, Article 10 or Article 11 of the Constar Charter or adopt any provision in the Constar Charter that is inconsistent with Article 9, Article 10 or Article 11 of the Constar Charter if such amendment or repeal or adoption
of any provisions inconsistent therewith would adversely affect any right or protection existing thereunder in respect of any act or omission occurring prior to such amendment or repeal or adoption of any provision inconsistent therewith.

  
 (b)  So long as any director, officer or employee of Crown is a director of the Constar Board, Constar
shall not amend or repeal Article 11 of the Constar Charter or adopt any provision in the Constar Charter that is inconsistent with Article 11 of the Constar Charter without the prior written consent of Crown. 
  
 ARTICLE IV 
  
 CORPORATE OPPORTUNITIES AND CONFLICTS OF INTEREST 
  
 4.1.  Corporate
Opportunities.    (a)  If any Crown Entity or any director or officer of Constar who is also a director, officer or employee of any Crown Entity acquires knowledge of a potential transaction or matter which may be a
Corporate Opportunity or otherwise is then exploiting any Corporate Opportunity, Constar shall have no interest in, and no expectation that, such Corporate Opportunity be offered to it, any such interest or expectation being hereby renounced by
Constar so that any such Crown Entity (or any other Crown Entity) and any such individuals (i) shall (A) have no duty to communicate or present such Corporate Opportunity to Constar and (B) have the right to hold any such Corporate Opportunity for
any Crown Entity’s (and any Crown Entity’s officers’, directors’, agents’, stockholders’, members’, partners’, Affiliates’ or Subsidiaries’) own account and benefit or to recommend, assign or
otherwise transfer or deal in such Corporate Opportunity to Persons other than Constar or any Affiliate of Constar and (ii) cannot be, and shall not be, liable to Constar or its stockholders for breach of any fiduciary duty as an officer or director
of Constar or otherwise by reason of the fact that any Crown Entity or any such individual pursues or acquires such Corporate Opportunity for any Crown Entity, directs, sells, assigns or otherwise transfers or deals in such Corporate Opportunity to
another Person, or does not communicate information regarding such Corporate Opportunity to Constar. 
  
 (b)(i)  Constar will cause each Subsidiary of Constar (x) to amend, promptly after the date of this Agreement, its organizational documentation so as to include, to the extent permissible under applicable law, provisions
analogous to Article 11 of the Constar Charter, and (y) to refrain from amending, altering or repealing any such provision of its organizational documents without the prior written consent of Crown. 
  
 (ii)  Constar will use reasonable efforts to cause each Constar Equity-Interest Entity to amend, promptly after Crown’s
exercise of such rights, its organizational
 

 
 12 

 
documentation so as to include, to the extent permissible under applicable law, provisions analogous to Article 11 of the Constar Charter, and (y) to refrain from amending, altering or repealing
any such provision of its organizational documents without the prior written consent of Crown. 
  
 ARTICLE V

  
 INDEMNIFICATION 
  
 5.1.  Constar Indemnification of the Crown Entities for Certain Liabilities. 
  
 (a)  Subject to Section 5.3, Constar shall indemnify and hold harmless each Crown Entity and its Affiliates and each of their respective directors, officers, employees, agents, consultants,
advisors, accountants, attorneys and representatives (each, a “Crown Indemnitee”) from and against any and all Liabilities incurred or suffered by any Crown Indemnitee arising out of (i) any and all Constar Entity Liabilities, (ii) the
breach by any Constar Entity of any obligation under this Agreement, and (iii) any claim by any Constar Subsidiary or Constar Equity-Interest Entity that any Crown Indemnitee breached any fiduciary duty (or similar concept) as a stockholder, officer
or director of such entity or otherwise by reason of the fact that any Crown Indemnitee pursued or acquired a Corporate Opportunity for any Crown Entity, directed, sold, assigned or otherwise transferred or dealt in such Corporate Opportunity to
another Person, or did not communicate information regarding such Corporate Opportunity to such entity. 
  
 (b)  Subject to Section 5.3, Constar shall indemnify and hold harmless each Crown Indemnitee from and against any and all Liabilities caused by any untrue statement or alleged untrue statement of a material fact contained
in any document filed with the SEC by any Crown Entity pursuant to the Securities Act or the Exchange Act, or caused by any omission or alleged omission to state therein a material fact necessary to make the statements therein, in the light of the
circumstances under which they were made, not misleading, in each case to the extent, but only to the extent, that those Liabilities are caused by any such untrue statement or omission or alleged untrue statement or omission based upon information
that any Constar Entity furnishes in writing or fails to furnish to any Crown Indemnitee for inclusion in any document filed by any Crown Entity with the SEC, if that statement or omission was made or occurred after the Initial Public Offering Date.

  
 (c)  Subject to Section 5.3, Constar shall indemnify and hold harmless each Crown Indemnitee from and
against any and all Liabilities caused by any untrue statement or alleged untrue statement of a material fact contained in Constar’s registration statement on Form S-1 (Reg. No. 333-88878), as amended from time to time (the “Registration
Statement”) or in any prospectus related thereto filed under Rule 424 of the Securities Act (the “Final Prospectus”), or caused by any omission or alleged omission to state therein a material fact necessary to make the statements
therein, in the light of the circumstances under which they were made, not misleading. 

 
 13 

  
 5.2.  Crown Indemnification of Constar
Entities.    Subject to Section 5.3, Crown shall indemnify and hold harmless each Constar Entity and its Affiliates and each of their respective directors, officers, employees, agents, consultants, advisors, accountants,
attorneys and representatives (each, a “Constar Indemnitee”) from and against any and all Liabilities incurred or suffered by any Constar Indemnitee arising out of (i) any and all Crown Entity Liabilities and (ii) the breach by any Crown
Entity of any obligation under this Agreement; provided, however, that Crown shall not have any obligation to indemnify or hold harmless any Constar Indemnitee, and Crown shall have no Liability to any Constar Indemnitee, with respect to any
Liabilities caused by any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or the Final Prospectus, or caused by any omission or alleged omission to state therein a material fact necessary to
make the statements therein, in the light of the circumstances under which they were made, not misleading. 
  
 5.3.  Limitations. 
  
 (a)  Any indemnification pursuant to Section 5.1 or
Section 5.2 shall be paid net of any tax benefit to the Indemnified Party attributable to the relevant payment. It is expressly agreed that no insurer or any other third party shall be (i) entitled to a benefit (as a third-party beneficiary or
otherwise) that it would not be entitled to receive in the absence of Section 5.1 or Section 5.2, (ii) relieved of the responsibility to pay any claims to which it is obligated or (iii) entitled to any subrogation rights with respect to any
obligation under Section 5.1 or Section 5.2. 
  
 (b)  Section 5.1 and Section 5.2 above do not apply to the
extent that the parties or any of their respective Groups have any written agreement that limits liability of one to the other or otherwise provides for any separate indemnity. 
  
 (c)  Notwithstanding Section 5.1 and Section 5.2, neither party shall be liable for any special, indirect, incidental or consequential damages relating to claims
of the other party or any third party. 
  
 (d)  The amount that any Indemnifying Party is or may be
required to pay any Indemnified Party hereunder shall be reduced (retroactively or prospectively) by any insurance proceeds, settlement recoveries or other amounts actually recovered by or on behalf of such Indemnified Party in respect of any
indemnification pursuant to Section 5.1 or 5.2, as the case may be (an “Actual Recovery”). If an Indemnified Party shall have received the payment required by this Agreement from an Indemnifying Party in respect of any indemnification
pursuant to Section 5.1 or 5.2, as the case may be, and shall subsequently receive an Actual Recovery, then such Indemnified Party shall pay to such Indemnifying Party a sum equal to the amount of such Actual Recovery up to the aggregate payments
made by such Indemnifying Party pursuant to this Agreement in respect of such indemnification pursuant to Section 5.1 or 5.2, as the case may be. 
  
 5.4.  Notice and Payment of Claims.    If any Crown Indemnitee or Constar Indemnitee (the “Indemnified Party”) determines that it is or may be entitled to
indemnification by any party
 

 
 14 

 
(the “Indemnifying Party”) under Article IV of this Agreement (other than in connection with any Action subject to Section 5.5), the Indemnified Party shall deliver to the Indemnifying
Party a written notice specifying, to the extent reasonably practicable, the basis for its claim for indemnification and the amount for which the Indemnified Party reasonably believes it is entitled to be indemnified. Within 30 days after receipt of
that notice, the Indemnifying Party shall pay the Indemnified Party that amount in cash or other immediately available funds unless the Indemnifying Party objects to the claim for indemnification or the amount of the claim. If the Indemnifying Party
does not give the Indemnified Party written notice objecting to that indemnity claim and setting forth the grounds for the objection(s) within that 30-day period, the Indemnifying Party shall be deemed to have acknowledged its liability for that
claim and the Indemnified Party may exercise any and all of its rights under applicable law to collect that amount. If there is a timely objection by the Indemnifying Party, the Indemnifying Party shall pay to the Indemnified Party in cash the
amount, if any, that is Finally Determined to be required to be paid by the Indemnifying Party in respect of that indemnity claim within 15 days after that indemnity claim has been so Finally Determined. 
  
 5.5.  Notice and Defense of Third-Party Claims.    Promptly after the earlier of receipt of (i)
notice that a third party has commenced an Action against or otherwise involving any Indemnified Party or (ii) information from a third party alleging the existence of a claim against an Indemnified Party, in either case, with respect to which
indemnification may be sought under Article IV of this Agreement (a “Third-Party Claim”), the Indemnified Party shall give the Indemnifying Party written notice of the Third-Party Claim. The failure of the Indemnified Party to give notice
as provided in this Section 5.5 shall not relieve the Indemnifying Party of its obligations under this Agreement, except to the extent that the Indemnifying Party is prejudiced by the failure to give notice. Within 30 days after receipt of that
notice, the Indemnifying Party may (i) at its option, elect to assume and control the defense of that Third-Party Claim at its sole cost and expense by giving written notice to that effect to the Indemnified Party, or (ii) object to the claim for
indemnification set forth in the notice delivered by the Indemnified Party pursuant to the first sentence of this Section 5.5; provided, that if the Indemnifying Party does not within that 30-day period give the Indemnified Party written
notice objecting to that indemnification claim and setting forth the grounds for the objection(s), the Indemnifying Party shall be deemed to have acknowledged its liability for that indemnification claim. If the Indemnifying Party has acknowledged
its obligation to indemnify the Indemnified Party and elected to assume the defense of a Third-Party Claim, (x) the defense shall be conducted by counsel retained by the Indemnifying Party and reasonably satisfactory to the Indemnified Party;
provided, that the Indemnified Party shall have the right to participate in those proceedings and to be represented by counsel of its own choosing at the Indemnified Party’s sole cost and expense; and (y) the Indemnifying Party may
settle or compromise the Third-Party Claim without the prior written consent of the Indemnified Party so long as any settlement or compromise of the Third-Party Claim includes an unconditional release of the Indemnified Party from all claims that
are the subject of that Third-Party Claim; provided, that the Indemnifying Party may not agree to any such settlement or compromise pursuant to which any remedy or relief, other than monetary damages for which the Indemnifying Party shall be
responsible under this Agreement, shall be applied to or against the Indemnified Party, without the prior written consent of the Indemnified
 

 
 15 

 
Party, which consent shall not be unreasonably withheld. If the Indemnifying Party does not assume the defense of a Third-Party Claim for which it has acknowledged its obligation to indemnify the
Indemnified Party, the Indemnified Party will act in good faith with respect to that Third-Party Claim and may require the Indemnifying Party to reimburse it on a current basis for its reasonable expenses of investigation, reasonable attorney’s
fees and reasonable out-of-pocket expenses incurred in investigating and defending against that Third-Party Claim and the Indemnifying Party shall be bound by the result obtained with respect to that claim by the Indemnified Party; provided,
that the Indemnifying Party shall not be liable for any settlement or compromise of any Third-Party Claim effected without its consent, which consent shall not be unreasonably withheld. The Indemnifying Party shall pay to the Indemnified Party in
cash the amount, if any, for which the Indemnified Party is entitled to be indemnified under this Agreement within 15 days after that Third-Party Claim has been Finally Determined. 
  
 5.6.  Contribution. 
  
 If for any reason the indemnification provided for in Sections 5.1 or 5.2 is unavailable to any Indemnified Party, or insufficient to hold it harmless, then the Indemnifying Party shall contribute to the amount paid or payable by
that Indemnified Party as a result of those Liabilities in that proportion as is appropriate to reflect the relative fault of the Indemnifying Party, on the one hand, and the Indemnified Party, on the other hand, in connection with those statements
or omissions, which relative fault shall be determined by reference to the Crown Entity or Constar Entity to which those actions, conduct, statements or omissions are primarily related, as well as any other relevant equitable considerations.

  
 ARTICLE VI 
  
 TERM 
  
 6.1.  Effectiveness.    The terms of
this Agreement shall not become effective until the Initial Public Offering Date. 
  
 6.2.  Termination
of the Agreement.    This Agreement shall remain in effect indefinitely. 
  
 ARTICLE VII

  
 MISCELLANEOUS 
  
 7.1.  Subsidiaries.    Crown agrees and acknowledges that Crown shall be responsible for the performance by each Crown Entity of the obligations hereunder
applicable to such Crown Entity. Constar agrees and acknowledges that Constar shall be responsible for the performance by each Constar Entity of the obligations hereunder applicable to such Constar Entity. 
  
 7.2.  Amendment and Modification.    This Agreement may not be amended or modified except by written
instrument duly executed by the parties hereto. No course of dealing between or among any Persons having any interest in this Agreement will be deemed effective to modify,
 

 
 16 

 
amend or discharge any part of this Agreement or any rights or obligations of any Person under or by reason of this Agreement. 
  
 7.3.  Severability.    If any term or provision of this Agreement or the application thereof to any Person or circumstance shall, to
any extent, be held invalid or unenforceable by a court of competent jurisdiction, the remainder of this Agreement or the application of any such term or provision to Persons or circumstances other than those as to which it is held invalid or
unenforceable shall not be affected thereby, and each term and provision of this Agreement shall be valid and enforceable to the fullest extent permitted by law. If any of the provisions contained in this Agreement shall for any reason be held to be
excessively broad as to duration, scope, activity or subject, it shall be construed by limiting and reducing it, so as to be valid and enforceable to the extent compatible with the applicable law or the determination by a court of competent
jurisdiction. 
  
 7.4.  Notices.    All notices and other communications
required or permitted hereunder shall be in writing, shall be deemed duly given upon actual receipt, and shall be delivered (a) in person, (b) by registered or certified mail, postage prepaid, return receipt requested or (c) by facsimile or other
generally accepted means of electronic transmission (provided that a copy of any notice delivered pursuant to this clause (c) shall also be sent pursuant to clause (b)), addressed as follows: 
  

	 	(a)
	 
	if to Constar, to: 
 

  
 One Crown Way 
 Philadelphia, PA 19154-4599 
 Attention: Michael J. Hoffman 
 Facsimile:
(215) 552-3715 
  

	 	(b)
	 
	if to Crown, to: 
 

  
 Crown Cork & Seal Company, Inc. 
 One Crown Way 
 Philadelphia, PA 19154 
 Attention: Timothy J.
Donahue 
 Facsimile: (215) 676-6011 
  
 or to such other addresses or telecopy numbers as may be specified by like notice to the other parties. 
  
 7.5.  Further Assurances.    Crown and Constar shall execute, acknowledge and deliver, or cause to be executed, acknowledged and delivered, such instruments and take such other action as may be
necessary or advisable to carry out their obligations under this Agreement and under any exhibit, document or other instrument delivered pursuant hereto. 

 
 17 

 7.6.  Counterparts.    This Agreement and any amendments hereto may be executed in
any number of counterparts, each of which shall be deemed an original instrument, but all of which together shall constitute but one and the same agreement. Delivery of an executed counterpart of a signature page to this Agreement by facsimile shall
be as effective as delivery of a manually executed counterpart of this Agreement. 
  
 7.7.  Governing
Law.    This Agreement shall be governed by and construed in accordance with the laws of the Commonwealth of Pennsylvania. 
  
 7.8.  Consent to Jurisdiction.    Crown and Constar hereby agree and consent to be subject to the exclusive jurisdiction of the United States District Court for the
Eastern District of Pennsylvania, and, in the absence of such Federal jurisdiction, the parties consent to be subject to the exclusive jurisdiction of any state court located in the City of Philadelphia and hereby waive the right to assert the lack
of personal or subject matter jurisdiction or improper venue in connection with any such suit, action or other proceeding. In furtherance of the foregoing, each of the parties (i) waives the defense of inconvenient forum, (ii) agrees not to commence
any suit, action or other proceeding arising out of this Agreement or any transactions contemplated hereby other than in any such court, and (iii) agrees that a final judgment in any such suit, action or other proceeding shall be conclusive and may
be enforced in other jurisdictions by suit or judgment or in any other manner provided by law. THE PARTIES HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVE ANY RIGHT SUCH PARTIES MAY HAVE TO A TRIAL BY JURY WITH RESPECT TO ANY SUIT OR ACTION
ARISING OUT OF THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. THE PARTIES HEREBY CERTIFY THAT NEITHER PARTY NOR ANY OF THEIR RESPECTIVE REPRESENTATIVES HAVE REPRESENTED, EXPRESSLY OR OTHERWISE, THAT THE OTHER PARTY WOULD NOT SEEK TO ENFORCE
THIS WAIVER OF RIGHT TO JURY TRIAL. FURTHER THE PARTIES HEREBY ACKNOWLEDGE THAT BOTH PARTIES RELIED ON THIS WAIVER OF RIGHT TO JURY TRIAL AS A MATERIAL INDUCEMENT TO ENTER INTO THIS AGREEMENT. 
  

7.9.  Entire Agreement.    This Agreement constitutes the entire understanding of the parties hereto with respect to the subject
matter hereof and supersedes any prior agreement or understanding, written or oral, relating to the subject matter of this Agreement. 
  
 7.10.  Successors/No Third Party Beneficiaries.    Except as specifically provided in this Agreement, the parties hereto may not assign any of their rights or obligations under this
Agreement; provided, that Constar may, and hereby gives notice to Crown that it intends to, pledge its rights and obligations under this Agreement to its lenders as collateral to secure indebtedness outstanding under it senior secured credit
facility and all renewals, refundings, refinancings and replacements thereof. This Agreement shall be binding upon, and shall inure to the benefit of, the parties hereto and their respective successors and permitted assigns. Nothing in this
Agreement, express or implied, is intended to or shall (a) confer on any Person other than the parties hereto and their respective successors or permitted assigns any rights (including third party beneficiary rights), remedies, obligations or
liabilities under or by reason of this
 

 
 18 

 
Agreement, except that (x) those Persons referenced as being released pursuant to Sections 2.1 or 2.2, those Persons referenced as being indemnified pursuant to Sections 5.1 or 5.2 and those
Common Advisors referred to in Section 2.2 are hereby acknowledged and agreed to be third party beneficiaries of this Agreement with rights to enforce this Agreement, or (b) constitute the parties hereto as partners or as participants in a joint
venture. Except for those Persons referenced as being released pursuant to Sections 2.1 or 2.2, those Persons referenced as being indemnified pursuant to Sections 5.1 or 5.2 and those Common Advisors referred to in Section 2.2, this Agreement shall
not provide third parties other than Constar Entities and Crown Entities with any remedy, claim, liability, reimbursement, cause of action or other right in excess of those existing without reference to the terms of this Agreement. 

 
 7.11.  No Right of Setoff.    Constar and Crown shall waive all rights of setoff and
recoupment either may have against the other or any of the other’s Affiliates with respect to all amounts which may be owed from time to time pursuant to this Agreement. 
  
 7.12.  Survival.    In the event that Constar ceases to be a publicly traded company or becomes a Subsidiary of a publicly traded
Company (other than Crown), all of the rights of Crown set forth in this Agreement shall continue in full force and effect and shall apply to any publicly traded company that, directly or indirectly, through one or more intermediaries Controls
Constar. Constar agrees that, without the prior written consent of Crown, it will not enter into any agreement or arrangement which will have the effect set forth in the first clause of the preceding sentence, unless such publicly traded company
agrees to be bound by the foregoing provision. 
  
 7.13.  Section Headings; Interpretive
Issues.    The section and paragraph headings contained in this Agreement are for reference purposes only and shall not in any way affect the meaning or interpretation of this Agreement. Crown and Constar have participated
jointly in the drafting and negotiation of this Agreement. In the event any ambiguity or question of interpretation or intent arises, this Agreement shall be construed as if drafted jointly by Crown and Constar and no presumption or burden of proof
shall arise favoring or disfavoring any party by virtue of the authorship of any provisions of this Agreement. 
  
 7.14.  Pronouns.    Whenever the context may require, any pronouns used herein shall be deemed also to include the corresponding neuter, masculine or feminine forms. 
  
 [Signatures appear on next page] 

 
 19 

  
 IN WITNESS WHEREOF, the parties hereto have executed this Agreement the day and
year first above written. 
  
  CONSTAR INTERNATIONAL
INC. 
   
 
	 By:
                                        
                          
 
	 
	  	 	 Name:
 
	  	 	 Title:
 

 
  
  CROWN CORK
& SEAL COMPANY, INC. 
   
 
	 By:
                                        
                          
 
	 
	  	 	 Name:
 
	  	 	 Title:
 

 
  
 
	 By:
                                        
                          
 
	 
	  	 	 Name:
 
	  	 	 Title:
 

 

 
 20

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