Document:

Exhibit 10.26

                                      2003

                            MANAGEMENT INCENTIVE PLAN

I.    Eligibility

            A.    Participation will be limited to key management personnel who
                  are approved by the Organization, Compensation and Governance
                  Committee of the Board of Directors and/or the President and
                  Chief Executive Officer. Names of proposed participants, who
                  are recommended by the Executive Vice Presidents, Senior Vice
                  Presidents, and Regional Vice Presidents, should be received
                  by the Senior V. P. Organization and Administration in the
                  corporate office, by December 31st of the preceding year.
                  Personal objectives for approved participants should be
                  received by April 15th.

            B.    To be eligible for the Management Incentive Plan (MIP),
                  participants must be employees of Crompton and/or its eligible
                  subsidiaries as of January 1st of the Plan year and remain on
                  the payroll through the date the MIP awards, if any, are made.
                  Exceptions may be granted to employees who are participating
                  as of January 1st of the Plan year; complete at least six
                  months of employment during the Plan year, and then retire or
                  leave involuntarily (except for cause). Such participants may
                  be eligible for prorated payments.

            C.    Employees who are either hired as a MIP eligible participant
                  or are promoted and become a MIP eligible participant after
                  the beginning of the Plan year may be assigned prorated target
                  incentives based upon salary at eligibility and the number of
                  months in the position provided they have a minimum of
                  six-months participation.

II.   Target Award

      Each participant's target award opportunity is a function of actual base
      salary at the beginning of the Plan year or later date of entry into the
      Plan.

III.  Earnings Performance

            A.    The earnings performance component of the target award is
                  determined based on applicable Net Income After Tax (NIAT) or
                  Earnings results. (See Performance Matrix).

            B.    Threshold performance for earning an award is at 80%
                  achievement of the applicable earnings budget. Where earnings
                  are split, the elements of earnings will be calculated on a
                  weighted average based on the split. The weighted average must
                  reach 80% of budget.

            C.    The maximum award level for earnings performance is reached at
                  120% achievement of the applicable earnings budget.

            D.    The earnings performance component of an incentive award is
                  determined from the attached Earnings Performance Schedule and
                  is leveraged from 50% (at 80% of earnings budget) to 200% (at
                  120% of earnings budget).

IV.   Operating Performance

            A.    The operating performance component of the target award is
                  determined based on operating performance, (Return on Capital
                  Employed, Sales, Cash Flow, Working Capital, etc.)

            B.    The threshold for earning an award for operating performance
                  is 80% achievement of operating performance goals and the
                  maximum award level, for quantifiable operating performance,
                  is reached at 120% achievement of operating performance goals.

            C.    The operating performance component of an incentive award is
                  determined from the attached Operating Performance and
                  Individual Contributions Schedule and is leveraged from 80% to
                  150% depending on actual performance.

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V.    Individual Contributions

            A.    The individual contribution component of the target award is
                  determined from the attached Operating and Individual
                  Contribution Performance Schedule and may be leveraged from
                  80% to 150% depending on actual performance.

            B.    Non-quantifiable individual contributions will be leveraged
                  from 80% to 100% depending on actual performance. Quantifiable
                  individual contributions will be leveraged from 80% to 150%
                  depending on actual performance.

VI.   No incentive for either Earnings or Operating Performance may be earned by
      an individual if the earnings performance applicable to that individual is
      less than 80% (Threshold). If the CK share price percentage change for the
      year 1/1/03 through 12/31/03 is in the lowest quartile of share price
      performance of its peer group, then the Corporation reserves the right to
      determine in its sole discretion, whether, and, if so, in what amount of
      incentive compensation shall be paid in any year to any employee of the
      Corporation under the Plan. Participation in the MIP is in no way an
      employment agreement, and each employee's employment by Crompton remains,
      and shall continue to remain, at will. Nothing in the MIP changes or in
      any way affects an employee's right to resign his or her employment at any
      time, or Crompton's right to terminate such employee's employment at any
      time.

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                        2003 MIP / SIP Performance Matrix
                                   Definitions

<TABLE>
<S>                             <C>
Consolidated Net Income         The measurement will be based on Consolidated Net Income for Crompton Corporation
                                excluding any reported special Items, extraordinary items and cumulative effect of
                                accounting change. However, antitrust legal costs will not be considered a special
                                item. Antitrust fines or settlement costs will be considered a special item.

Consolidated Cash Flow from     Net Cash Provided by Operations as presented in the annual report, adjusted to
Operations                      exclude the impact of the OSI transaction. (Note: Budgeted Consolidated Cash from
                                Operations will be adjusted to exclude the impact of the OSI transaction and the
                                treatment of account receivable securitization which changed pursuant to the SEC
                                Comment Letter).

Division Earnings (For          Earnings will be based on the "Division Earnings" summary account used in the TM-1
Division EVPs)                  system for internal reporting. For Executive Vice Presidents, this will be the sum
                                of all Division Earnings for those business units that are the responsibility of
                                the Executive Vice President.

Division Earnings (For          Earnings will be based on the "Division Earnings" summary account used in the TM-1
Division R&D Heads, Division    system for internal reporting. R&D Heads, Financial Staff, Regional Marketing
Staff Financial, Region         Heads, Sales staff and Non Financial Staff will be measured on the sum of the
Marketing Heads, Sales staff    worldwide Division Earnings for those SBUs that they support.
and Division Staff
Non-Financial)

Division Earnings (For          Earnings will be based on the "Division Earnings" summary account used in the TM-1
Operations / Manufacturing      system for internal reporting. Operations and Manufacturing Heads will be measured
Heads)                          on the sum of Division Earnings for those SBUs that they support. In cases where
                                an Operations or Manufacturing manager's responsibilities result in a
                                disproportionate share of his time being spent in support of a particular SBU, the
                                results will be weighted based on the support expected. This weighting should be
                                specified when objectives are submitted.

Business Earnings (For SBU      Earnings will be based on the "Division Earnings" summary account used in the TM-1
Heads)                          system for internal reporting. For an SBU Head, this will be the summary of all
                                Division Earnings for those business units that are his responsibility.

Business Earnings (For Region   Earnings will be based on the "Division Earnings" summary account used in the TM-1
Marketing Heads, and SBU        system for internal reporting. Managers in these categories will be measured on
Marketing Heads)                the subset of Division Earnings that relates to the Region(s) and SBU(s) in which
                                they have responsibilities.

Region Earnings                 Earnings will be based on the "Division Earnings" summary account used in the TM-1
                                system for internal reporting. Region Earnings will include the subset of Division
                                Earnings that relates to that region and includes all SBUs. This will be adjusted
                                by adding or subtracting the variance to target on all Centrally Funded items
                                (excluding any inter company items) under the Region's area of responsibility.

Business Cash Flow (For         Business Cash Flow will be calculated from Division Earnings, tax affected at
Division EVPs, SBU Heads,       40%,  plus depreciation, less capital expenditures, plus or minus the change in
Division Staff Financial and    Accounts Receivable and Inventory.  The change in accounts receivable and
Division Staff Non-Financial)   inventory is adjusted to exclude the impact of foreign exchange based on the
                                change in the functional currency exchange rate of the entity holding the accounts
                                receivable and inventory.

Business Cash Flow (For Region  Business Cash Flow for Regions will be calculated from Division Earnings, tax
VPs)                            affected at 40%,  plus or minus the change in Accounts Receivable and Inventory.
                                The change in accounts receivable and inventory is adjusted to exclude the impact
                                of foreign exchange based on the change in the functional currency exchange rate
                                of the entity holding the accounts receivable and inventory.
</TABLE>

<PAGE>

<TABLE>
<S>                             <C>
Business Sales                  Region Marketing Heads will be based on sales of the total SBU(s) within the
                                region for which they have responsibility. SBU Marketing Heads will be based on
                                worldwide sales for which they have responsibility. Division R&D Heads and
                                Division Staff Non-Financial will be based on sales for those SBUs which make up
                                their respective divisions. Region Staff Non-Financial will be based on sales for
                                their respective region.

Accounts Rec. (DSO) &           Accounts Receivable and Inventory will be measured on a 12 month average basis
Inventory (DCI)                 using a Days Sales Outstanding ratio (DSO) and a Days Cost of Inventory ratio
                                (DCI). Each ratio will be compared to target at the end of the year and combined
                                to determine performance.

Sales                           Based on GAAP sales for which the employee has responsibility.
</TABLE>

NOTE: In arriving at Division Earnings, Business Earnings and Region Earnings,
any business unit involved in the antitrust issue will be allocated its portion
of antitrust legal costs in arriving at actual earnings for MIP purposes.

April 28, 2003Exhibit 10.27

                               AMENDMENT 2003-1 TO
                        SUPPLEMENTAL RETIREMENT AGREEMENT

      This Amendment 2003-1 to Supplemental Retirement Agreement (this
"Amendment") is entered into by and between ___________ ("Employee") and
Crompton Corporation, a Delaware corporation ("Corporation"), on ____________,
2003 with reference to the following facts:

      A. CK Witco Corporation, a Delaware corporation, and the Employee entered
into a Supplemental Retirement Agreement (the "Agreement") as of ____________.
CK Witco Corporation subsequently changed its name to Crompton Corporation, a
Delaware corporation.

      B. The Agreement can be amended by written agreement executed by the
parties to the Agreement and the parties now wish to make certain changes to the
Agreement.

      C. Capitalized terms used in this Amendment have the same meaning set
forth in the Agreement except where otherwise specified.

      NOW, THEREFORE, the parties agree as follows effective as of the date
first written above:

1.    Section 3(a) of the Agreement is amended in its entirety to read as
      follows:

            "(a) 'Actuarial Equivalent' shall mean an amount or benefit of
      equivalent value computed using the UP 1994 Mortality Table and an
      interest rate equal to the 10-year Moody's Aaa Municipal Bond Yield
      Average for the last full week immediately preceding the first day of the
      calendar year in which payments are to commence."

2.    Section 9 of the Agreement is amended by the addition of the following
      paragraph (c) at the end thereof:

            "(c) Instead of receiving benefits in the form provided under
      Section 9(a) or 9(b) above, the Employee may elect to receive his benefits
      in either of the following alternative forms:

                  (1) a single lump sum in an amount equal to the Actuarial
            Equivalent of the benefit to which the Employee would otherwise be
            entitled hereunder payable in the normal form described in Section
            9(a); or

                  (2) a lump sum equal to one half of the Actuarial Equivalent
            of the benefit to which the Employee would otherwise be entitled
            hereunder payable in the normal form described in Section 9(a) with
            the balance of the Employee's benefit payable in one of the forms of
            monthly benefit set forth in Section 9(a) as elected by the
            Employee.

      Any such alternative benefit form described in this Section 9(c) (an
      "Alternative Benefit Form") will be paid or commence to be paid to the
      Employee as soon as practicable following the date on which the Employee's
      benefit otherwise would be scheduled to commence (the "Benefit
      Commencement Date"). In order for the election of an Alternative Benefit
      Form to be effective, the election must be made in writing on forms
      provided by the Company and delivered to the Company on a date that is
      both: (1) at least six months prior to the Benefit Commencement Date; and
      (2) during a calendar year that precedes the calendar year in which the
      Benefit Commencement Date occurs. If the Employee should die prior to the
      date of payment of any lump sum benefits under an Alternative Benefit Form
      but after satisfying the requirements of this Section 9(c), any unpaid
      lump sum benefits will be paid to the Employee's beneficiary. If the
      Employee attempts to elect an Alternative Benefit Form, but such election
      does not satisfy the requirements of this Section 9(c), the Employee's
      benefit will be paid in the normal form provided under Section 9(a),
      unless the Employee makes an additional election of one of the other forms
      set forth in Section 9(a) or 9(b) in accordance with the provisions of
      those sections."

3.    Except as amended hereby, the Agreement will remain in full force and
      effect.

<PAGE>

4.    This Amendment may be executed in two counterpart copies of the entire
      document, each of which may be executed by one of the parties, but all of
      which, when taken together, will constitute a single agreement binding
      upon both of the parties.

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

                                      "EMPLOYEE"

                                      ---------------------------------
                                      [Employee]

                                      CROMPTON CORPORATION

                                      By:
                                              ----------------------------------
                                      Name:
                                              ----------------------------------
                                      Title:
                                              ----------------------------------

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