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                                                                    Exhibit 10.1

                         EXECUTIVE EMPLOYMENT AGREEMENT

                                 (FIELD VERSION)

         THIS EXECUTIVE EMPLOYMENT AGREEMENT ("Agreement") is made and entered
into as of this 14th day of May, 2001, by and between REPUBLIC SERVICES, INC., a
Delaware corporation (the "Company"), and MICHAEL CORDESMAN, a Texas resident
(the "Employee").

         Employee is currently an employee of the Company and is considered a
valued employee that Company desires to retain by reconfirming the Company's
commitment to Employee pursuant to the terms of this Agreement.

         NOW, THEREFORE, in consideration of the premises and other good and
valuable consideration, the Company and the Employee agree as follows:

1.       TERMINATION BY COMPANY WITHOUT CAUSE.

         a.       TERMINATION RIGHTS. If at any time the Employee's employment
                  with the Company is terminated without Cause (as defined
                  below), then:

                  (1)      the Company shall pay to the Employee all of the
                           Employee's accrued but unpaid salary through the date
                           of termination, and continue to pay to or provide the
                           following items to the Employee (the consideration
                           provided for below in this clause (1) is collectively
                           referred to herein as the "Severance Payment"):

                           (a)      his current monthly salary at the rate in
                                    effect at the time of termination ("Salary")
                                    for a period of time equal to two months for
                                    each complete year that the Employee has
                                    been employed by the Company at the time of
                                    such termination, but in no event to exceed
                                    a maximum of twelve months, when and as the
                                    same would have been due and payable but for
                                    such termination (the "Salary Continuation
                                    Payment"),

                           (b)      all health benefits in which Employee was
                                    entitled to participate at any time during
                                    the 12-month period prior to the date of
                                    termination, for a period of time equal to
                                    the lesser of (i) two months for each
                                    complete year that the Employee has been
                                    employed by the Company at the time of such
                                    termination or (ii) twelve months, but in no
                                    event beyond the date on which the Employee
                                    becomes covered by a comparable health
                                    benefit plan by a subsequent employer;
                                    provided, however, that in the event that
                                    Employee's continued participation in any
                                    health benefit plan of the Company is
                                    prohibited, the Company will arrange to
                                    provide

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                                    Employee with benefits substantially similar
                                    to those which Employee would have been
                                    entitled to receive under such plan for such
                                    period on a basis which provides Employee
                                    with no additional after tax cost,

                           (c)      a pro-rated Annual Performance Bonus
                                    relating to the year in which such
                                    termination occurs based on the Annual
                                    Performance Bonus actual performance
                                    results, such bonus being paid at such time
                                    and only to the extent that such bonuses are
                                    paid to other similarly situated employees
                                    of the Company and the amount so paid shall
                                    be equal to the amount that would have been
                                    payable to the Employee in the absence of
                                    such termination multiplied by a fraction
                                    equal to the number of days during the year
                                    elapsed through the date of termination
                                    divided by the total number of days in such
                                    year, and

                           (d)      a payment of all amounts credited to
                                    Employee's deferred compensation account
                                    through the date of termination, in full
                                    satisfaction and payment of said deferred
                                    compensation account, and

                  (2)      all stock option grants will continue to vest and
                           remain exercisable as if the Employee was still
                           employed during the period of time he is receiving
                           the Salary Continuation Payment.

                  Other than the Severance Payment, the Company shall have no
                  further obligation to the Employee except for the obligations
                  set forth in this Section of this Agreement after the date of
                  such termination; PROVIDED, HOWEVER, that the Employee shall
                  only be entitled to continuation of the Severance Payments as
                  long as he is in compliance with the provisions of Sections 5
                  and 6 of this Agreement.

         b.       CAUSE DEFINED. For purposes of this Agreement, the term
                  "Cause" shall mean during the term of this Agreement (i)
                  Employee's willful and continued failure to substantially
                  perform his duties after he has received written notice from
                  the Company identifying the actions or omissions constituting
                  willful and continued failure to perform, (ii) Employee's
                  conduct that would constitute a crime under federal or state
                  law, (iii) Employee's actions or omissions that constitute
                  fraud, dishonesty or gross misconduct, (iv) Employee's breach
                  of any fiduciary duty that causes material injury to the
                  Company, (v) Employee's breach of any duty causing material
                  injury to the Company, (vi) Employee's inability to perform
                  his material duties to the reasonable satisfaction of the
                  Company due to alcohol or other substance abuse, or (vii) any
                  violation of the Company's policies or procedures involving
                  discrimination, harassment, substance abuse or work place
                  violence.

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                  Any termination for Cause pursuant to this Section shall be
                  given to the Employee in writing and shall set forth in detail
                  all acts or omissions upon which the Company is relying to
                  terminate the Employee for Cause. Upon any determination by
                  the Company that Cause exists to terminate the Employee, the
                  Company shall cause a special meeting of the Board of
                  Directors to be called and held at a time mutually convenient
                  to the Board of Directors and Employee, but in no event later
                  than ten (10) business days after Employee's receipt of the
                  notice that the Company intends to terminate the Employee for
                  Cause. Employee shall have the right to appear before such
                  special meeting of the Board of Directors with legal counsel
                  of his choosing to refute such allegations and shall have a
                  reasonable period of time to cure any actions or omissions
                  which provide the Company with a basis to terminate the
                  Employee for Cause (provided that such cure period shall not
                  exceed 30 days). A majority of the members of the Board of
                  Directors must affirm that Cause exists to terminate the
                  Employee. No finding by the Board of Directors will prevent
                  the Employee from contesting such determination through
                  appropriate legal proceedings provided that the Employee's
                  sole remedy shall be to sue for damages, not reinstatement,
                  and damages shall be limited to those that would be paid to
                  the Employee if he had been terminated without Cause. In the
                  event the Company terminates the Employee for Cause, the
                  Company shall only be obligated to continue to pay in the
                  ordinary and normal course of its business to the Employee his
                  Salary plus accrued but unused vacation time through the
                  termination date and the Company shall have no further
                  obligations to Employee from and after the date of
                  termination.

2.       TERMINATION OF EMPLOYMENT BY EMPLOYEE FOR CHANGE OF CONTROL.

         a.       TERMINATION RIGHTS. Notwithstanding the provisions of Section
                  1 of this Agreement, in the event that there shall occur a
                  Change of Control (as defined below) of the Company and within
                  two years after such Change of Control the Executive's
                  employment hereunder is terminated by the Company without
                  Cause, then:

                  (1)      the Company shall pay to the Employee or provide him
                           with the Severance Payment provided for in clause (1)
                           of Section 1.a of this Agreement, except that (i) the
                           Salary Continuation Payment shall equal twelve
                           months, and (ii) the amount of the Annual Performance
                           Bonus referred to in subclause (c) thereof shall be
                           paid to the Employee in full, as if Employee remained
                           employed for the entire year and all performance
                           targets were met,

                  (2)      all stock options pursuant to grants previously made
                           to the Employee which had not previously lapsed or
                           been forfeited or terminated will immediately vest
                           and remain exercisable for a period of one year
                           following such termination of employment, and

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                  (3)      all long term incentive cash grants provided to the
                           Employee shall immediately vest as if all targets and
                           conditions had been met and shall be paid by the
                           Company to the Employee at such times as the Company
                           would have been required to make such payments if
                           such termination of employment had not occurred,
                           provided, however, that in the case of incentives
                           partially or completely contingent on the providing
                           of service for a specific period of time, the total
                           amount to be paid by the Company shall be equal to
                           the maximum amount payable if all conditions were
                           met, multiplied by a fraction, the numerator of which
                           is the period of service that would have been served
                           if the Employee's employment had terminated as of the
                           last day of the fiscal year in which his employment
                           was terminated, and the denominator of which is the
                           total period of time specified as a condition to the
                           incentive.

                  The consideration payable to the Employee pursuant to this
                  Section 2.a is collectively referred to herein as the "Change
                  in Control Severance Payment". Other than the Change in
                  Control Severance Payment, the Company shall have no further
                  obligation to the Employee except for the obligations set
                  forth in this Section of this Agreement after the date of such
                  termination; PROVIDED, HOWEVER, that the Employee shall only
                  be entitled to continuation of the Change in Control Severance
                  Payments as long as he is in compliance with the provisions of
                  Sections 5 and 6 of this Agreement. To the extent that
                  payments are owed by the Company to the Employee pursuant to
                  this Section 2, they shall be made in lieu of payments
                  pursuant to Section 1, and in no event shall the Company be
                  required to make payments or provide benefits to the Employee
                  under both Section 1 and Section 2.

         b.       CHANGE OF CONTROL OF THE COMPANY DEFINED. For purposes of this
                  Section 2, the term "Change of Control of the Company" shall
                  mean any change in control of the Company of a nature which
                  would be required to be reported (i) in response to Item 6(e)
                  of Schedule 14A of Regulation 14A, as in effect on the date of
                  this Agreement, promulgated under the Securities Exchange Act
                  of 1934, as amended (the "Exchange Act"), (ii) in response to
                  Item 1 of the Current Report on Form 8-K, as in effect on the
                  date of this Agreement, promulgated under the Exchange Act, or
                  (iii) in any filing by the Company with the Securities and
                  Exchange Commission; provided, however, that without
                  limitation, a Change of Control of the Company shall be deemed
                  to have occurred if:

                  (1)      Any "person" (as such term is defined in Sections
                           13(d)(3) and Section 14(d)(3) of the Exchange Act),
                           other than the Company, any majority-owned subsidiary
                           of the Company, or any compensation plan of the
                           Company or any majority-owned subsidiary of the
                           Company, becomes the "beneficial owner" (as such term
                           is defined in Rule 13d-3 of the Exchange

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                           Act), directly or indirectly, of securities of the
                           Company representing thirty percent (30%) or more of
                           the combined voting power of the Company;

                  (2)      During any period of three consecutive years during
                           the term of this Agreement, the individuals who at
                           the beginning of such period constitute the Board of
                           Directors of the Company cease for any reason to
                           constitute at least a majority of such Board of
                           Directors, unless the election of each director who
                           was not a director at the beginning of such period
                           has been approved in advance by directors
                           representing at least two-thirds of the directors
                           then in office who were directors at the beginning of
                           such period; or

                  (3)      The shareholders of the Company approve (a) a
                           reorganization, merger, or consolidation with respect
                           to which persons who were the shareholders of the
                           Company immediately prior to such reorganization,
                           merger, or consolidation do not immediately
                           thereafter own more than 50% of the combined voting
                           power entitled to vote generally in the election of
                           the directors of the reorganized, merged or
                           consolidated entity; (b) a liquidation or dissolution
                           of the Company; or (c) the sale of all or
                           substantially all of the assets of the Company or of
                           a subsidiary of the Company that accounts for 30% of
                           the consolidated revenues of the Company, but not
                           including a reorganization, merger or consolidation
                           of the Company.

3.       TERMINATION FOR CAUSE OR RESIGNATION BY EMPLOYEE. In the event the
         Company terminates the Employee for Cause or the Employee resigns or
         otherwise terminates his employment with the Company, the Company shall
         only be obligated to continue to pay in the ordinary and normal course
         of its business to the Employee his Salary plus accrued but unused
         vacation time through the termination date and the Company shall have
         no further obligations pursuant to any provisions of this Agreement.

4.       SUCCESSOR TO COMPANY. The Company shall require any successor, whether
         direct or indirect, to all or substantially all of the business,
         properties and assets of the Company whether by purchase, merger,
         consolidation or otherwise, prior to or simultaneously with such
         purchase, merger, consolidation or other acquisition to execute and to
         deliver to the Employee a written instrument in form and in substance
         reasonably satisfactory to the Employee pursuant to which any such
         successor shall agree to assume and to timely perform or to cause to be
         timely performed all of the Company's covenants, agreements and
         obligations set forth in this Agreement (a "Successor Agreement"). The
         failure of the Company to cause any such successor to execute and
         deliver a Successor Agreement to the Employee shall constitute a
         material breach of the provisions of this Agreement by the Company.

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5.       RESTRICTIVE COVENANTS. In consideration of his employment and the other
         benefits arising under this Agreement, the Employee agrees that during
         the term of this Agreement, and for a period of two years following the
         termination of this Agreement, the Employee shall not directly or
         indirectly:

         a.       alone or as a partner, joint venturer, officer, director,
                  member, employee, consultant, agent, independent contractor or
                  stockholder of, or lender to, any company or business, (i)
                  engage in the business of solid waste collection, disposal or
                  recycling (the "Solid Waste Services Business") in any market
                  in which the Company or any of its subsidiaries or affiliates
                  does business, but only with respect to markets where the
                  Employee's duties within the twelve month period ending on the
                  date of Employee's termination included direct or indirect
                  responsibility relating to such market, or (ii) compete with
                  the Company or any of its subsidiaries or affiliates in
                  acquiring or merging with any other business or acquiring the
                  assets of such other business; or

         b.       for any reason, (i) induce any customer of the Company or any
                  of its subsidiaries or affiliates to patronize any business
                  directly or indirectly in competition with the Solid Waste
                  Services Business conducted by the Company or any of its
                  subsidiaries or affiliates in any market in which the Company
                  or any of its subsidiaries or affiliates does business; (ii)
                  canvass, solicit or accept from any customer of the Company or
                  any of its subsidiaries or affiliates any such competitive
                  business; or (iii) request or advise any customer or vendor of
                  the Company or any of its subsidiaries or affiliates to
                  withdraw, curtail or cancel any such customer's or vendor's
                  business with the Company or any of its subsidiaries or
                  affiliates; or

         c.       for any reason, employ, or knowingly permit any company or
                  business directly or indirectly controlled by him, to employ,
                  any person who was employed by the Company or any of its
                  subsidiaries or affiliates at or within the prior six months,
                  or in any manner seek to induce any such person to leave his
                  or her employment.

         Notwithstanding the foregoing, the beneficial ownership of less than
         five percent (5%) of the shares of stock of any corporation having a
         class of equity securities actively traded on a national securities
         exchange or over-the-counter market shall not be deemed, in and of
         itself, to violate the prohibitions of this Section.

6.       CONFIDENTIALITY. The Employee agrees that at all times during the term
         of this Agreement and after the termination of employment for as long
         as such information remains non-public information, the Employee shall
         (i) hold in confidence and refrain from disclosing to any other party
         all information, whether written or oral, tangible or intangible, of a
         private, secret, proprietary or confidential nature, of or concerning
         the Company or any of its subsidiaries or affiliates and their business
         and operations, and all files, letters, memoranda, reports, records,
         computer disks or other computer storage

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         medium, data, models or any photographic or other tangible materials
         containing such information ("Confidential Information"), including
         without limitation, any sales, promotional or marketing plans,
         programs, techniques, practices or strategies, any expansion plans
         (including existing and entry into new geographic and/or product
         markets), and any customer lists, (ii) use the Confidential Information
         solely in connection with his employment with the Company or any of its
         subsidiaries or affiliates and for no other purpose, (iii) take all
         precautions necessary to ensure that the Confidential Information shall
         not be, or be permitted to be, shown, copied or disclosed to third
         parties, without the prior written consent of the Company or any of its
         subsidiaries or affiliates, and (iv) observe all security policies
         implemented by the Company or any of its subsidiaries or affiliates
         from time to time with respect to the Confidential Information. In the
         event that the Employee is ordered to disclose any Confidential
         Information, whether in a legal or regulatory proceeding or otherwise,
         the Employee shall provide the Company or any of its subsidiaries or
         affiliates with prompt notice of such request or order so that the
         Company or any of its subsidiaries or affiliates may seek to prevent
         disclosure. In addition to the foregoing the Employee shall not at any
         time libel, defame, ridicule or otherwise disparage the Company.

7.       SPECIFIC PERFORMANCE; INJUNCTION. The parties agree and acknowledge
         that the restrictions contained in Sections 5 and 6 are reasonable in
         scope and duration and are necessary to protect the Company or any of
         its subsidiaries or affiliates. If any provision of Section 5 or 5 as
         applied to any party or to any circumstance is adjudged by a court to
         be invalid or unenforceable, the same shall in no way affect any other
         circumstance or the validity or enforceability of any other provision
         of this Agreement. If any such provision, or any part thereof, is held
         to be unenforceable because of the duration of such provision or the
         area covered thereby, the parties agree that the court making such
         determination shall have the power to reduce the duration and/or area
         of such provision, and/or to delete specific words or phrases, and in
         its reduced form, such provision shall then be enforceable and shall be
         enforced. The Employee agrees and acknowledges that the breach of
         Section 5 or 6 will cause irreparable injury to the Company or any of
         its subsidiaries or affiliates and upon breach of any provision of such
         Sections, the Company or any of its subsidiaries or affiliates shall be
         entitled to injunctive relief, specific performance or other equitable
         relief, without being required to post a bond; PROVIDED, HOWEVER, that,
         this shall in no way limit any other remedies which the Company or any
         of its subsidiaries or affiliates may have (including, without
         limitation, the right to seek monetary damages).

8.       COBRA. Notwithstanding the Employee's entitlement to the continuation
         of health care benefits upon his termination of service pursuant to the
         provisions of this Agreement, Employee shall remain eligible for all
         health care benefits pursuant to the Consolidated Omnibus
         Reconciliation Act of 1985, as amended ("COBRA").

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9.       NO GUARANTEE OF EMPLOYMENT. Nothing in this Agreement should be
         construed as to guarantee the Employee's employment with the Company or
         to limit the Company's ability to terminate the Employee's employment.

10.      NOTICES. All notices, requests, demands, claims and other
         communications hereunder shall be in writing and shall be deemed given
         if delivered by hand delivery, by certified or registered mail (first
         class postage pre-paid), guaranteed overnight delivery or facsimile
         transmission if such transmission is confirmed by delivery by certified
         or registered mail (first class postage pre-paid) or guaranteed
         overnight delivery to, the following addresses and telecopy numbers (or
         to such other addresses or telecopy numbers which such party shall
         designate in writing to the other parties): (a) if to the Company, at
         its principal executive offices, addressed to the Chairman of the
         Board, with a copy to the General Counsel; and (b) if to the Employee,
         at the address listed on the signature page hereto.

11.      AMENDMENT; WAIVER. This Agreement may not be modified, amended, or
         supplemented, except by written instrument executed by all parties. No
         failure to exercise, and no delay in exercising, any right, power or
         privilege under this Agreement shall operate as a waiver, nor shall any
         single or partial exercise of any right, power or privilege hereunder
         preclude the exercise of any other right, power or privilege. No waiver
         of any breach of any provision shall be deemed to be a waiver of any
         preceding or succeeding breach of the same or any other provision, nor
         shall any waiver be implied from any course of dealing between the
         parties. No extension of time for performance of any obligations or
         other acts hereunder or under any other agreement shall be deemed to be
         an extension of the time for performance of any other obligations or
         any other acts. The rights and remedies of the parties under this
         Agreement are in addition to all other rights and remedies, at law or
         equity, that they may have against each other.

12.      ASSIGNMENT; THIRD PARTY BENEFICIARY. This Agreement, and the Employee's
         rights and obligations hereunder, may not be assigned or delegated by
         him. The Company may assign its rights, and delegate its obligations,
         hereunder to any affiliate of the Company, or any successor to the
         Company or its Solid Waste Services Business, specifically including
         the restrictive covenants set forth in Section 5 hereof. The rights and
         obligations of the Company under this Agreement shall inure to the
         benefit of and be binding upon its respective successors and assigns.

13.      SEVERABILITY; SURVIVAL. In the event that any provision of this
         Agreement is found to be void and unenforceable by a court of competent
         jurisdiction, then such unenforceable provision shall be deemed
         modified so as to be enforceable (or if not subject to modification
         then eliminated here from) to the extent necessary to permit the
         remaining provisions to be enforced in accordance with the parties
         intention. The provisions of Sections 5 and 6 will survive the
         termination for any reason of the Employee's relationship with the
         Company.

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14.      COUNTERPARTS. This Agreement may be signed in any number of
         counterparts, each of which shall be an original but all of which
         together shall constitute one and the same instrument.

15.      GOVERNING LAW. This Agreement shall be construed in accordance with and
         governed for all purposes by the laws of the State of Florida
         applicable to contracts executed and to be wholly performed within such
         State.

16.      ENTIRE AGREEMENT. This Agreement contains the entire understanding of
         the parties in respect of its subject matter and supersedes all prior
         agreements and understandings (oral or written) between or among the
         parties with respect to such subject matter.

17.      HEADINGS. The headings of Paragraphs and Sections are for convenience
         of reference and are not part of this Agreement and shall not affect
         the interpretation of any of its terms.

18.      CONSTRUCTION. This Agreement shall be construed as a whole according to
         its fair meaning and not strictly for or against any party. The parties
         acknowledge that each of them has reviewed this Agreement and has had
         the opportunity to have it reviewed by their respective attorneys and
         that any rule of construction to the effect that ambiguities are to be
         resolved against the drafting party shall not apply in the
         interpretation of this Agreement.

19.      WITHHOLDING. All payments made to the Employee shall be made net of any
         applicable withholding for income taxes, Excise Tax and the Employee's
         share of FICA, FUTA or other taxes. The Company shall withhold such
         amounts from such payments to the extent required by applicable law and
         remit such amounts to the applicable governmental authorities in
         accordance with applicable law.

         IN WITNESS WHEREOF, the parties have executed this Agreement effective
as of the date first above written.

                                       REPUBLIC SERVICES, INC., a Delaware
                                       corporation

                                       By: /s/ David Barclay
                                           -------------------------------------
                                       Name: David Barclay
                                             -----------------------------------
                                       Title: SR. VP, General Counsel
                                              ----------------------------------

                                       EMPLOYEE:

                                       /s/ Michael Cordesman
                                       -----------------------------------------
                                       MICHAEL CORDESMAN

                                       Address for Notices:

                                       6901 Shalimar Court
                                       Colleyville, Texas 76034

                                       9<PAGE>
                                                                    Exhibit 4.09

                               [Face of Security]

THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE
HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A
NOMINEE THEREOF. THIS SECURITY MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A
SECURITY REGISTERED, AND NO TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY
BE REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A
NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE.

Unless this certificate is presented by an authorized representative of The
Depository Trust Company, a New York corporation ("DTC"), to Eastman Chemical
Company or its agent for registration of transfer, exchange, or payment, and
any certificate issued is registered in the name of Cede & Co. or in such other
name as is requested by an authorized representative of DTC (and any payment is
made to Cede & Co. or to such other entity as is requested by an authorized
representative of DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR
OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner
hereof, Cede & Co., has an interest herein.

                                                            CUSIP No. 277432AEO

                            EASTMAN CHEMICAL COMPANY
                               7% Notes due 2012

No. R-1                                                            $400,000,000

EASTMAN CHEMICAL COMPANY, a corporation duly organized and existing under the
laws of the State of Delaware (herein called the "Company", which term includes
any successor Person under the Indenture hereinafter referred to), for value
received, hereby promises to pay to CEDE & CO., or registered assigns, the
principal sum of Four Hundred Million Dollars ($400,000,000) on April 15,
2012, and to pay interest thereon from April 3, 2002 or from the most recent
Interest Payment Date to which interest has been paid or duly provided for,
semi-annually on April 15 and October 15 in each year, commencing October 15,
2002, at the rate of 7% per annum, until the principal hereof is paid or made
available for payment. The interest so payable, and punctually paid or duly
provided for, on any Interest Payment Date will, as provided in such Indenture,
be paid to the Person in whose name this Security (or one or more Predecessor
Securities) is registered at the close of business on the Regular Record Date
for such interest, which shall be the April 1 or October 1 (whether or not a
Business Day), as the case may be, next preceding such Interest Payment Date.
Any such interest not so punctually paid or duly provided for will forthwith
cease to be payable to the Holder on such Regular Record Date and may either be
paid to the Person in whose name this Security (or one or more Predecessor
Securities) is registered at the close of business on a Special Record Date for
the payment of such Defaulted Interest to be fixed by the Trustee, notice
whereof shall be given to Holders of Securities of this series not less than 10
days prior to such Special Record Date, or be paid at any time in any other
lawful manner not inconsistent with the requirements of any securities exchange
on which the Securities of this series may be listed, and upon such notice as
may be required by such exchange, all as more fully provided in said Indenture.
Interest on the Securities of this series shall be computed on the basis of a
360-day year of twelve 30-day months.

Payment of the principal of (and premium, if any) and any such interest on this
Security will be made at the office or agency of the Company maintained for
that purpose in The City of New York, in such coin or currency of the United
States of America as at the time of payment is legal tender for payment of
public and private debts; provided, however, that at the option of the Company
payment of interest may be made by check mailed to the address of the Person
entitled thereto as such address shall appear in the Security Register.

Reference is hereby made to the further provisions of this Security set forth
on the reverse hereof, which further provisions shall for all purposes have the
same effect as if set forth at this place.

Unless the certificate of authentication hereon has been executed by the
Trustee referred to on the reverse hereof by manual signature, this Security
shall not be entitled to any benefit under the Indenture or be valid or
obligatory for any purpose.

                                       35

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IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed
under its corporate seal.

                                    EASTMAN CHEMICAL COMPANY

                                    By
                                      ---------------------------------
                                          Theresa K. Lee
                                          Senior Vice-President and
                                          General Counsel

Attest:

----------------------------
Brian L. Henry
Assistant Secretary

                         CERTIFICATE OF AUTHENTICATION
This is one of the Securities of the series designated therein referred to in
the within-mentioned Indenture.

Dated: April 3, 2002                                       THE BANK OF NEW YORK

                                                                     As Trustee

                                                By:
                                                   ----------------------------

                                                           Authorized Signatory

                             [REVERSE OF SECURITY]

This Security is one of a duly authorized issue of securities of the Company
(herein called the "Securities"), issued and to be issued in one or more series
under an Indenture, dated as of January 10, 1994 (herein called the
"Indenture", which term shall have the meaning assigned to it in such
instrument), between the Company and The Bank of New York, as Trustee (herein
called the "Trustee", which term includes any successor Trustee under the
Indenture), and reference is hereby made to the Indenture for a statement of
the respective rights, limitations of rights, duties and immunities thereunder
of the Company, the Trustee and the Holders of the Securities and of the terms
upon which the Securities are, and are to be, authenticated and delivered. This
Security is one of the series designated on the face hereof, initially limited
in aggregate principal amount to $400,000,000; provided that the Company may
from time to time, without notice to or the consent of the Holders of
Securities, create and issue further Securities of this series (the "Additional
Securities") having the same terms and ranking equally and ratably with the
Securities of this series in all respects and with the same CUSIP number as the
Securities of this series, or in all respects except for the payment of
interest accruing prior to the Issue Date or except for the first payment of
interest following the issue date of such Additional Securities. Any Additional
Securities will be consolidated and form a single series with the Securities
and shall have the same terms as to status, redemption and otherwise as the
Securities. Any Additional Securities may be issued pursuant to authorization
provided by a resolution of the Board of Directors of the Company, a supplement
to the Indenture, or under an Officers' Certificate pursuant to the Indenture.
No Additional Securities may be issued if an Event of Default has occurred with
respect to the Securities of this series.

The Indenture contains provisions for defeasance at any time of the entire
indebtedness of this Security or certain restrictive covenants and Events of
Default with respect to this Security, in each case upon compliance with
certain conditions set forth in the Indenture.

If an Event of Default with respect to Securities of this series shall occur
and be continuing, the principal of the Securities of this series may be
declared due and payable in the manner and with the effect provided in the
Indenture.

The Indenture permits, with certain exceptions as therein provided, the
amendment thereof and the modification of the rights and obligations of the
Company and the rights of the Holders of the Securities of each series to be
affected under the Indenture at any time by the Company and the Trustee with
the consent of the Holders of a majority in principal amount of the Securities
at the time Outstanding of each series to be affected. The Indenture also
contains provisions permitting the Holders of specified percentages in
principal amount of the Securities of each series at the time Outstanding, on
behalf of the Holders of all Securities of such series, to waive compliance by
the Company with certain provisions of the Indenture and certain past defaults
under the Indenture and their consequences. Any such consent or waiver by the
Holder of this Security shall be conclusive and binding upon such Holder and
upon all future Holders of this Security and of any Security issued upon the
registration of transfer hereof or in exchange herefor or in lieu hereof,
whether or not notation of such consent or waiver is made upon this Security.

                                      36
<PAGE>
As provided in and subject to the provisions of the Indenture, the Holder of
this Security shall not have the right to institute any proceeding with respect
to the Indenture or for the appointment of a receiver or Trustee or for any
other remedy thereunder, unless such Holder shall have previously given the
Trustee written notice of a continuing Event of Default with respect to the
Securities of this series, the Holders of not less than 25% in principal amount
of the Securities of this series at the time Outstanding shall have made
written request to the Trustee to institute proceedings in respect of such
Event of Default as Trustee and offered the Trustee reasonable indemnity, and
the Trustee shall not have received from the Holders of a majority in principal
amount of Securities of this series at the time Outstanding a direction
inconsistent with such request, and shall have failed to institute any such
proceeding, for 60 days after receipt of such notice, request and offer of
indemnity. The foregoing shall not apply to any suit instituted by the Holder
of this Security for the enforcement of any payment of principal hereof or any
premium or interest hereon on or after the respective due dates expressed
herein.

No reference herein to the Indenture and no provision of this Security or of
the Indenture shall alter or impair the obligation of the Company, which is
absolute and unconditional, to pay the principal of and any premium and
interest on this Security at the times, place and rate, and in the coin or
currency, herein prescribed.

As provided in the Indenture and subject to certain limitations therein set
forth, the transfer of this Security is registrable in the Security Register,
upon surrender of this Security for registration of transfer at the office or
agency of the Company in any place where the principal of and premium and
interest on this Security are payable, duly endorsed by, or accompanied by a
written instrument of transfer in form satisfactory to the Company and the
Security Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Securities of this series
and of like tenor, of authorized denominations and for the same aggregate
principal amount, will be issued to the designated transferee or transferees.

The Company may redeem the Securities, in whole or in part, at the Company's
option, at any time at a redemption price equal to the greater of:

*   100% of the principal amount of the Securities to be redeemed or

*   as determined by a Quotation Agent (as defined below), the sum of the
present values of the remaining scheduled payments of principal and interest
thereon (not including any portion of such payments of interest accrued to the
date of redemption) discounted to the redemption date on a semiannual basis
(assuming a 360-day year consisting of twelve 30-day months) at the Adjusted
Treasury Rate (as defined below) plus 25 basis points

plus, in each case, accrued and unpaid interest on the Securities to the
redemption date.

"Adjusted Treasury Rate" means, with respect to any redemption date, the rate
per annum equal to the semiannual equivalent yield to maturity of the
Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue
(expressed as a percentage of its principal amount) equal to the Comparable
Treasury Price for such redemption date.

"Comparable Treasury Issue" means the United States Treasury security selected
by a Quotation Agent as having a maturity comparable to the remaining term of
the Securities to be redeemed that would be utilized, at the time of selection
and in accordance with customary financial practice, in pricing new issues of
corporate debt securities of comparable maturity to the remaining term of such
Securities.

"Quotation Agent" means the Reference Treasury Dealer appointed by the Trustee
after consultation with the Company.

"Reference Treasury Dealer" means (1) J.P. Morgan Securities Inc. and its
successors; provided, however, that if the foregoing shall cease to be a
primary U.S. Government securities dealer in New York City (a "Primary Treasury
Dealer"), the Company shall substitute therefor another Primary Treasury
Dealer, and (2) any other Primary Treasury Dealer selected by the Trustee after
consultation with the Company.

"Comparable Treasury Price" means, with respect to any redemption date, (1) the
average of the Reference Treasury Dealer Quotations for such redemption date,
after excluding the highest and lowest such Reference Treasury Dealer
Quotations, or (2) if the Trustee obtains fewer than three such Reference
Treasury Dealer Quotations, the average of all such quotations.

"Reference Treasury Dealer Quotations" means, with respect to each Reference
Treasury Dealer and any redemption date, the average, as determined by the
Trustee, of the bid and asked prices for the Comparable Treasury Issue

                                       37
<PAGE>
(expressed in each case as a percentage of its principal amount) quoted in
writing to the Trustee by such Reference Treasury Dealer at 5:00 p.m. on the
third business day preceding such redemption date.

The Company will give notice to DTC of any redemption the Company proposes to
make at least 30 days, but not more than 60 days, before the redemption date.

Unless the Company defaults in payment of the redemption price, on and after
the redemption date, interest will cease to accrue on the Securities or
portions of the Securities called for redemption.

The Securities of this series are issuable only in registered form without
coupons in denominations of $1,000 and any integral multiple thereof. As
provided in the Indenture and subject to certain limitations therein set forth,
Securities of this series are exchangeable for a like aggregate principal amount
of Securities of this series and of like tenor of different authorized
denomination, as requested by the Holder surrendering the same.

No service charge shall be made for any such registration of transfer or
exchange, but the Company may require payment of a sum sufficient to cover any
tax or other governmental charge payable in connection therewith.

Prior to due presentment of this Security for registration of transfer, the
Company, the Trustee and any agent of the Company or the Trustee may treat the
Person in whose name this Security is registered as the owner hereof for all
purposes, whether or not this Security be overdue, and neither the Company, the
Trustee nor any such agent shall be affected by notice to the contrary.

All terms used in this Security which are defined in the Indenture shall have
the meanings assigned to them in the Indenture.

This Indenture and the Securities shall be governed by and construed in
accordance with the law of the State of New York.

                                       38

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