Document:

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                                                                   EXHIBIT 10.21

                               CheMatch.com, Inc.
                        2900 NORTH LOOP WEST, SUITE 1120
                                HOUSTON, TX 77092

February 11, 2000

General Electric Company
One Plastics Avenue
Pittsfield, MA  01201

Ladies and Gentlemen:

         This letter will evidence our mutual understanding and agreement with
respect to the strategic alliance (the "Strategic Alliance") between
CheMatch.com, Inc., a Delaware corporation (the "Company") and General Electric
Company, a New York corporation, acting by and through its GE Plastics business
unit ("Purchaser").

1.       Purchase of Company Common Stock by Purchaser.
         ---------------------------------------------

          (a)  Purchaser hereby agrees to purchase 306,435 shares of the
               Company's common stock, par value $0.01 per share (the "Common
               Stock"), pursuant to a Stock Purchase Agreement (in the form
               attached hereto as Exhibit A) for $3064.35 in cash and the
               execution of a promissory note (the "Note") (in the form attached
               hereto as Exhibit B) in favor of the Company in aggregate
               principal amount of $1,997,956.20. 204,290 of the shares of
               Common Stock purchased by Purchaser will be subject to a Security
               Agreement (in the form attached hereto as Exhibit C).

2.       Other Obligations and Agreements.
         --------------------------------

          (a)  Neither party to this agreement may reference this agreement (or
               the transactions contemplated hereby) or the other party to this
               agreement in presentations, press releases, advertising,
               promotions or other published information or otherwise without
               the other party's prior written consent (which consent shall not
               be unreasonably withheld); provided, however, that either party
               may make such disclosure if in the reasonable opinion of such
               party's counsel such disclosure is required by law under the
               circumstances. Following the closing, the parties will work
               together to produce a mutually acceptable press release.

          (b)  The parties are entering into this Agreement and the transactions
               contemplated hereby on a non-exclusive basis and nothing in this
               Agreement or in any other agreement by and between the parties
               shall be construed to limit the ability of either party to enter
               into any transaction, including a transaction similar to that
               described herein, with any other party.

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          (c)  Each of the parties agrees that, without the other party's prior
               written consent in each instance, from the date hereof through
               December 31, 2002, it shall not (i) knowingly solicit for
               employment in its business or (ii) employ in its business any
               employee of the other party who became known, or hereafter
               becomes known, to such party in the course of the negotiation or
               performance of this Agreement. For purposes of this Paragraph,
               Purchaser's "business" shall be deemed to be the activities of
               the GE Plastics business unit.

          (d)  Purchaser shall use the Company trading platform on a good faith,
               preferred basis from the date hereof through December 31, 2001
               for any bulk commodity petrochemicals that it buys, trades,
               auctions, or reverse auctions using e-Commerce to the extent such
               products are then traded over the Company's system.

          (e)  Purchaser will agree to make reasonable business efforts to
               assist the Company in developing viable e-Commerce trading
               activity in specific contract-dominated markets where Purchaser
               is a significant buyer. These markets include, but are not
               limited to, cumene, phenol, butadiene, and acrylonitrile.

          (f)  Purchaser will promote the use of Company's trading platform to
               other entities by reasonable means, including, but not limited
               to, direct correspondence to a minimum of 20 new potential
               trading participants. Purchaser will provide a list of the
               companies, and the Company will review and agree to these, as
               soon as possible after the closing.

          (g)  Purchaser will agree to a reciprocal portal arrangement with the
               Company between the CheMatch.com and Purchaser's Global Supplier
               Network websites with the intent of generating a mutual referral
               channel.

          (h)  One of Purchaser's full time employees will devote at least 50%
               of his/her time to assist the Company's personnel in developing
               Purchaser's presence on the trading platform.

3.       Additional Undertakings
         -----------------------

          (a)  Unless otherwise restricted by any contract currently in effect,
               the Company will negotiate with Purchaser as a potential supplier
               of the credit insurance model to be used in future integrated
               e-Commerce transactions on the trading platform and shall provide
               Purchaser with the right to match any offers (a "third party
               offer") received by the Company for comparable services and to
               provide to the Company such services on the same terms as the
               third party offers.

          (b)  The Company will assign Purchaser a position on the CheMatch
               Industry Council for as long as the Company has such a Council.
               This Council will initially be comprised of CheMatch strategic
               investors and senior CheMatch management, and will act as an
               advisory committee.

          (c)  Purchaser shall have the right to nominate five (5) additional
               products for launching on the trading platform within 180 days of
               the closing hereof. If any or

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               all of these products are included on the Company trading
               platform, Purchaser agrees to commit good faith commercially
               reasonable efforts to assist in developing viable e-Commerce
               trading activity.

          (d)  The Company shall have the right to disclose the materials and
               volumes involved in transactions made by Purchaser over the
               trading platform for purposes of promoting or advertising the
               trading platform, provided that no disclosure of price terms,
               delivery locations, or Purchaser's identity will be permitted
               except with Purchaser's express prior written consent; provided,
               however, that the Company may make such disclosure if, in the
               reasonable opinion of such party's counsel, such disclosure is
               required by law under the circumstances.

4.       Miscellaneous.
         -------------

          (a)  The Strategic Alliance, this letter agreement and all
               documentation contemplated by this letter shall be governed by
               the laws of the State of Delaware, without regard to any conflict
               of laws principles.

          (b)  Each of Purchaser and the Company will bear its own costs and
               expenses of the preparation of the documentation and performance
               of the obligations set forth in this letter.

          (c)  With the exception of Section 2(c) which will survive until
               December 31, 2002, this Agreement shall continue until December
               31, 2001 after which time either party may terminate this
               Agreement on sixty (60) days written notice.

         If this letter correctly sets forth our understanding, please indicate
your acceptance by executing this letter in the space provided below.

                                            Very truly yours,

                                            CHEMATCH.com, INC.

                                            By: /s/ CARL D. MCCUTCHEON
                                                ----------------------------

                                            Name: Carl D. McCutcheon
                                                  -------------------------

                                            Title: Chairman, President and
                                                    Chief Financial Officer
                                                   -------------------------

ACCEPTED AND AGREED TO
THIS 11th DAY OF FEBRUARY, 2000:

GENERAL ELECTRIC COMPANY

By: /s/ GARY L. ROGERS
    ----------------------------------

Name: Gary L. Rogers
      --------------------------------

Title: President and Chief
        Executive Officer, GE Plastics
       -------------------------------

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                                                                   EXHIBIT 10.22

                               CheMatch.com, Inc.
                        2900 North Loop West, Suite 1120
                                Houston, TX 77092

                                                              Carl D. McCutcheon
                                           President and Chief Executive Officer

February 11, 2000

Mr. Phillip Townsend
TownsendTarnell, Inc.

Dear Mr. Townsend,

     This letter will evidence our mutual understanding and agreement with
respect to the strategic alliance (the "Strategic Alliance") between
CheMatch.com, Inc., a Delaware corporation (the "Company") and TownsendTarnell,
Inc., ("Purchaser").

1.       Purchase of Company Common Stock by Purchaser.
         ---------------------------------------------

          (a)  Purchaser hereby agrees to purchase 61,288 shares of the
               Company's common stock, par value $.01 per share (the "Common
               Stock"), pursuant to a Subscription Agreement (in the form
               attached hereto as Exhibit A) for $612.88 in cash and the
               execution of a promissory note (the "Note") (in the form attached
               hereto as Exhibit B) in favor of the Company in aggregate
               principal amount of $599,396.64 with interest accruing thereon at
               the rate of 8% per annum. All of the shares of Common Stock
               purchased by Purchaser pursuant to the Subscription Agreement
               will be subject to a Security Agreement (in the form attached
               hereto as Exhibit C).

          (b)  The Note will be payable in twelve consecutive monthly principle
               installments of $49,949.72 payable, commencing February 1, 2000.
               Additionally, each monthly payment will include all outstanding
               interest due on the outstanding principle balance.

2.       Other Obligations and Agreements.
         --------------------------------

          (a)  Use of Names. Neither party to this agreement may reference the
               other party to this agreement in presentations, advertising,
               promotions or other published information without the other
               party's prior consent (which consent shall not be unreasonably
               withheld); provided, however, that either party may make such
               disclosure if in the reasonable opinion of such party's counsel
               such disclosure is required by law under the circumstances.

          (b)  Company and Purchaser agree to a Consulting and Support Services
               Agreement (hereinafter "Consulting Agreement") to reflect the
               following:

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              (i)    The Company will pay Purchaser a fee of $70,000.00 per
                     month beginning February 1, 2000, for a term of nine
                     consecutive months, in return for the commitments of
                     Purchaser, provided below. The parties hereto may cancel
                     this Consulting Agreement by mutual consent on six months
                     notice.

              (ii)   During the first six months of this Consulting Agreement,
                     the best reasonable efforts of Purchaser's personnel shall
                     be dedicated to promoting the use of the Company's trading
                     platform and website by potential buyers of thermoplastic
                     resins in North America and Europe. This effort will
                     include up to, but not be limited to, approximately 800
                     entities identified by the company as potential users of
                     its trading platform and related services. Purchaser will
                     maintain daily or weekly communications with the Company,
                     or its designated representative(s), regarding the status
                     of contacts with the list entities, qualifications of the
                     entities in terms of net worth, revenue, and credit
                     worthiness, and discussion with each entity toward
                     establishing them as members and traders on the trading
                     platform and users of related services.

              (iii)  Purchaser will commit its best reasonable efforts to
                     provide information from its North American and European
                     databases and resources of Purchaser, or any affiliated
                     company, including, but not limited to, the Plastics Market
                     Monthly, the Tarnell Buyer Profiles (of approximately
                     14,000 North American buyers), the Tarnell Financial
                     Resumes (of 6,000 buyers), the Tarnell Purchasing and
                     Paying Records (of 10,000 buyers) and access to
                     approximately 50 employees of Purchaser (or Purchaser's
                     related consultants and/or contract hires) who create and
                     operate these services on an unrestricted and timely basis
                     to furnish the Company the necessary information in order
                     to enable the Company to secure the listed entities as
                     members and traders on the trading platform and
                     specifically to fulfill the obligations under paragraph
                     (ii) above.

              (iv)   Purchaser and Company agree to use reasonable commercial
                     efforts to negotiate a separate agreement to install
                     interface to access new users for both parties.

3.       Company investment in Purchaser's website.
         -----------------------------------------

          (a)  Purchaser will provide Company with a mutually acceptable
               business plan for the creation and development of
               TownsendTarnell.com ("TT.com"). This business plan will include
               the design and implementation strategy for TT.com, the sources
               and uses of funds, milestones, budgets, and projections all to
               the sole satisfaction of Company. Upon such satisfaction, Company
               will extend a line of credit evidenced by a Promissory Note,
               Security Agreement, License Agreement, and related documents.
               This line of credit will make available funds up to five hundred
               thousand dollars ($500,000.00), with any funds drawn being due
               and payable at the end of one year. Interest will accrue at the
               rate of 12% per annum and the payable monthly on the outstanding
               principle balance. If the Company

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               elects not to extend a line of credit within 30 days of receipt
               of Purchaser's business plan, the Company will relinquish the
               option of investing in TT.com in their first round of private
               placement.

          (b)  If, prior to January 1, 2002, TT.com conducts a private offering
               of any of its securities, whether debt or equity, for an
               aggregate amount of at least five million dollars
               ($5,000,000.00), TT.com shall offer to Company the opportunity to
               invest at least one million dollars ($1,000,000.00) in the first
               such offering (but not in any subsequent offering) made by TT.com
               on the same financial terms offered to other Strategic Investors
               in such offering; provided, however, that the Company's
               participation in such offering shall be limited to a maximum of
               ten percent (10%) of such offering, unless TT.com otherwise
               agrees in writing.

4.       Miscellaneous.
         -------------

          (a)  The Strategic Alliance, this letter agreement and all
               documentation contemplated by this letter shall be governed by
               the laws of the State of Texas, without regard to any conflict of
               laws principles.

          (b)  Each of Purchaser and the Company will bear its own costs and
               expenses of the preparation of the documentation and performance
               of the obligations set forth in this letter.

If this letter correctly sets forth our understanding, please indicate your
acceptance by executing this letter in the space provided below.

                                            Very truly yours,

                                            /s/ CARL D. MCCUTCHEON

                                            Carl D. McCutcheon

ACCEPTED AND AGREED TO
THIS 11th DAY OF FEBRUARY, 2000:

TOWNSENDTARNELL, INC.

By: /s/ PHILLIP TOWNSEND
   -----------------------------
Name:  Phillip Townsend
Title: President

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