Document:

Operating Production Agreement

 Exhibit 10.2 
 CONFIDENTIAL TREATMENT REQUESTED 
 WITH RESPECT TO CERTAIN PORTIONS HEREOF

 DENOTED WITH “[*****]” 
 OPERATING PRODUCTION AGREEMENT 
 DATED MARCH 2012 

BETWEEN 
 Compagnie Pétrochimique de
Berre SAS, a company organized under the laws of France, having the address of Chemin Départemental 54, 13130, Berre L’Etang, France, hereinafter referred to as “Operator” 

AND 
 Kraton Polymers France SAS, a
company organized under the laws of France, having the address of Immeuble Icare, Parc Tertiaire de L’Etang, 13130 Berre L’Etang, France, hereinafter referred to as “Owner” 

AND 
 Kraton Polymers Nederland BV, a
company incorporated in the Netherlands, having its registered office at John M. Keynesplein 10, 1066 EP Amsterdam, The Netherlands, hereinafter referred to as “KP Ned BV” 
 With two or more companies hereinafter jointly referred to as the “Parties” and individually referred to as “a Party” 

WHEREAS, the Operator currently operates a facility of the Owner in Berre France (“Facility”) with a production capacity of
approximately 85 kt/a of Elastomers (“Product”) under the First Amended and Restated Operation and Maintenance Services Agreement (“OMS”) and the First Amended and Restated Site Services, Utilities, Materials and
Facilities Agreement (“SUMF”) each dated 28 February 2001 and made originally between Shell Chemie S.A. and Owner. 

WHEREAS, Parties have agreed to merge the OMS and SUMF into a sole operating production agreement and to enter into a new agreement upon the terms and
conditions set forth below for the provision of services, materials and utilities at the Facility, which replaces and supersedes 

  
 Berre Operating Production
Agreement 

 
all existing contracts, agreements, arrangements and understandings as well as previous drafts of these between Parties related to the operation of the Facility including the OMS and SUMF, into
this new Operating Production agreement. 
 WHEREAS the Parties have agreed that with effect from August 1, 2010, KP Ned BV has assumed the
rights and obligations of the Owner referred to in paragraph 2(a)(1) of this Agreement regarding the procurement of Materials (Materials I as well as Materials II), the related fee / costs further detailed in Exhibit A 2 (together the
“Assigned Rights & Obligations”). 
 WHEREAS the rights and obligations of the Owner referred to in paragraph 1,
paragraph 2(a)(2) (regarding handling services of Materials) and paragraph 3 of this Agreement and the related fee / costs further detailed in Exhibit A 1 and Exhibit B of the Agreement shall remain with the Owner. 

NOW, THEREFORE, the Parties agree as follows: 
  

	1	OPERATION OF THE FACILITY. 

  

	1.1	 During the term of this Agreement, and subject to the specific provisions set forth below (including without limitation the responsibility of the Owner
Representative as defined in paragraph 1.2), the Operator shall, under the direction of the Owner, manage the Facility and provide the services, human resources and certain materials and utilities required to operate the Facility for the production
and interim storage of elastomers (the “Services”) as have historically been provided by Operator to Owner. The Operator shall conduct all the Services, during the term of this Agreement safely and efficiently, and in accordance
with: (a) all applicable laws and regulations; (b) Good Industry Practice; (c) the reasonable instructions of the Owner’s Representative given in accordance with this Agreement; and (d) Site HSE standards. The Operator shall
conduct such operations as far as reasonably practicable in a manner consistent with its operation of the Facility prior to the Commencement Date (as defined in paragraph 4.1), subject to any operational changes as (i) may be necessitated by
applicable law or health, safety and/or environmental considerations, or (ii) directed by the Owner via its Owner 

  

			
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Representative, provided that same are feasible and within applicable law. The Owner shall exclusively communicate its directions and instructions (within the responsibilities set forth in
paragraph 1.2) to a representative designated by the Operator (the “Operator Representative”). The Owner shall be consulted on the identity of the Operator Representative and may propose candidates for consideration. However, the
Operator reserves the right to select the Operator Representative. 

  

	1.2	During the term of this Agreement, the Owner will appoint a designee to serve as the Owner’s representative (the “Owner Representative”) for the
Facility. Subject to compliance with applicable law and regulations, including, without limitation, those relating to health, safety and environmental matters of the Berre site (the “Site”), and unless otherwise stated in this
paragraph 1.2, the Owner Representative shall have overall responsibility for the operation and maintenance of the Facility, including, without limitation, production scheduling and performance, provided, however, that the Operator shall have the
overall responsibility for its employees. The Owner Representative may appoint from the Owner one or more assistants, financial controllers and other staff (the “Staff”) to assist him in the performance of his duties. For the
avoidance of doubt the second last sentence of paragraph 1.1 shall also apply with regard to the Owner Representative and Staff. In the event that, subject to the provision in the second sentence of this paragraph 1.2, any Staff member so appointed
shall functionally replace any employee of the Operator, any severance and other similar costs related to such replaced employees that are not, despite the Operator’s reasonable efforts to do so, reassigned to other activities within the
Operator, shall be borne by the Owner. The Owner Representative and the Staff shall comply with all directions of the Operator’s Site manager with respect to health, safety and environmental matters and to the operation of the Site as a whole
as long as these do not contradict applicable laws. In particular, and without limiting the generality of the foregoing, the Owner Representative shall have the right to request termination or reassignment of any Operator employee working at or in
connection with the Facility, but only to the extent that such employee’s acts or omissions are sufficient cause for the Operator to terminate or reassign such employee pursuant to his contract or other terms of employment, and provided further
that the exercise of such right shall be subject to any applicable limitations of law. 

  

			
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	1.3	The Owner acknowledges and agrees that, except to the extent arising out of the Operator’s gross negligence or wilful breach of its obligations under this
Agreement, and subject to paragraphs 4.6, 4.7, 4.8, 4.10, 16.3, 16.4, 17.1 and 17.2, neither the Operator, nor its shareholders, nor any of their respective directors, officers, employees or agents, shall be liable for any claims, damages, losses,
liabilities or expenses of any kind, including without limitation any loss of profits, loss of use, loss of revenue, loss of contract, loss of goodwill or any indirect or consequential losses or damages of any kind whatsoever, arising in connection
with the operation or maintenance of the Facility (collectively, “Claims”). The Owner shall indemnify and hold harmless the Operator, its shareholders and respective directors, officers, employees or agents from and against such
Claims. In particular, and without limiting the generality of the foregoing, the Operator shall have no liability based on a failure of the Operator to produce Product at the Facility of a certain amount, for deficiencies in raw material yields, or
any other similar failure with respect to the performance of the Facility, except to the extent arising out of the Operator’s gross negligence or wilful breach of its obligations under this Agreement. In addition to the foregoing limitations,
the Operator’s liability in connection with the operation or maintenance of the Facility shall be limited in any event to an annual aggregate liability equal to twenty-five percent (25%) of the Service Fee invoiced to the Owner in the
twelve (12) months immediately preceding the date on which the event upon which such liability is based occurred. 

  

	1.4	The Operator shall be entitled, without incurring liability of any kind, either direct or consequential, to temporarily shut down the Facility or the Operator’s
butadiene production facility at any time where health, safety, environmental and/or other risks of a significant and urgent nature have arisen to justify such action, and to continue such shutdown until the risk in question has been removed.

  

	1.5	In the event of any dispute between the Owner and the Operator, the Parties shall discuss the matter in an attempt at resolution. Should the matter not be resolved
within 60 (sixty) days, then either Party may initiate an arbitration proceeding as set forth in paragraph 15 below. 

  

			
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	1.6	The Operator acknowledges and agrees that the Owner owns all title, right and interest in the technology and processes used by the Operator at the Facility under this
Agreement. The Owner hereby grants a limited license to the Operator to utilize such technology and processes (and any other information it may disclose for use by the Operator) for the performance of the Operator’s duties hereunder. The
Operator further agrees that, to the extent that technology or process improvements are made by it or its employees in the context of performing its duties hereunder, all title and rights in such improvements shall be the exclusive property of and
vest in the Owner to the extent that they relate to the production of Product, and, to the extent that such improvements can be utilized in other applications, the Operator hereby grants to the Owner a non-exclusive, royalty fee, perpetual licence
to use such improvements, including the right to sub-license for such other applications. The Owner confirms that it is duly authorised and has the right to have the Product manufactured by the Operator in accordance with this Agreement. In the
event of any claim by a third party that the Operator’s use of any right licensed by the Owner to the Operator infringes an IP right (“Infringement Claim”), the Owner shall, at its option, either defend the Infringement Claim
on behalf of the Operator or pay for the costs of the Operator’s defence and the Owner shall pay the amount of any award or judgment that may be made against the Operator by reason of such Infringement Claim unless such Infringement Claim
relates exclusively to use of methods, processes, designs or other technology developed by the Operator and already employed by it prior to the date of this Agreement. The Operator shall promptly notify the Owner upon becoming aware of any
Infringement Claim and provide the Owner (at the Owner’s cost) with such assistance as the Owner may reasonably require in the settlement or defence of any such Infringement Claim. 

 

	1.7	The Operator will use all reasonable efforts to provide to the Owner, by no later than the twentieth day of each calendar month in any calendar year (in respect of the
previous calendar month and on a year-to-date basis), information enabling the Owner to properly monitor and assess performance by reference to the targets set out in the then applicable operating plan, operating budget and maintenance budget for
the Facility, including without limitation such performance with respect to health, safety and environmental matters, quality, volumes and yields. 

  

			
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	2	MATERIALS. 

  

	 	(a)	The Operator agrees to provide at cost (1) to KP Ned BV “Materials I” (being materials used on the Site only at the Facility and, specifically, sulfuric
acid and caustic soda, other process materials as agreed between the Operator and KP Ned BV and dedicated spare parts), including handling and loading or unloading services (for the avoidance of doubt handling and unloading or loading services
required are charged separately as direct component of the Service Fee) and “Materials II” (being utilities, auxiliaries, maintenance materials and other consumption materials for which the Operator has a need for other production
facilities on the Site, all as agreed between the Operator and KP Ned BV), in the case of Materials I only if requested by KP Ned BV, Materials I and II jointly referred to hereinafter as “Materials”, and (2) to Owner handling
and loading or unloading services for the Materials and for butadiene, styrene, isoprene and extender oil, secondary butyl lithium, cyclohexane, isopentane, n-hexane, and any other material the Owner requires for the operation of the Facility (for
the avoidance of doubt handling and unloading or loading services required are charged separately as direct component of the Service Fee). The Owner or KP Ned BV, as the case may be, shall itself arrange for the purchase of butadiene, hydrogen,
styrene, isoprene, secondary butyl lithium, cyclohexane, isopentane, n-hexane, extender oil and any other material the Owner or KP Ned BV requires to produce Product. Operator will enable the Owner to supply these materials in line with practices
prior the Commencement Date. 

  

	 	(b)	The Operator warrants that it will have unencumbered title to each of the Materials sourced by it and used in the operation of the Facility. With respect to any
Material sourced from a third party that is not suitable for use in the Facility, the Operator shall use all reasonable efforts to obtain any contractual remedy available from such third party supplier, and shall pass through to the Owner or KP Ned
BV (as the case may be), via a credit to the Service Fee, the incremental benefits of any remedy obtained from such third party supplier. KP NED BV AND THE OWNER ACKNOWLEDGE AND AGREE THAT THE WARRANTIES AND LIMITED LIABILITY EXPRESSLY SET FORTH IN
THIS PARAGRAPH 2(b) ARE EXCLUSIVE, AND THAT ALL OTHER REMEDIES AND LIABILITIES FOR DEFECTIVE OR NON-CONFORMING MATERIALS ARE EXCLUDED. 

  

			
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	 	(c)	The Operator shall not be liable for any deficiency in the quantity of Materials deliveries (whether or not arising out of a force majeure), except to the extent
arising out of the Operator’s gross negligence or wilful breach of its obligations under this Agreement. 

  

	 	(d)	The actual cost of Materials will either be invoiced on a monthly basis on receipt (Materials I) or actual consumption (Materials II), or through the Direct Component
of the Service Fee (as defined in paragraph 5), as the Operator shall determine. Except as the Parties may otherwise agree, all consumption of Materials will be determined by calibrated measuring equipment, already installed or to be installed (as a
capital investment pursuant to paragraph 5.4) and maintained at the Facility as part of the Direct Component of the Service Fee. 

  

	 	(e)	Title and risk of loss of Materials shall pass to the Owner or KP Ned B.V. (as the case may be) upon receipt at the Facility; in particular, with respect to Materials
delivered by pipeline, immediately after passing through the relevant metering system for the Facility. 

  

	3	STORAGE. 

  

	3.1	Finished Product and Materials will be stored to the extent consistent with available facilities on the Site. Finished Product in excess of available storage space will
be removed from the Site (at the Owner’s cost) on a timely basis by the Owner or its subcontractor(s) which will arrange for it to be stored (at the Owner’s cost) at a suitable third party facility. 

 

	3.2	Owner will manage and perform – either directly or via a subcontractor – the storage, logistics services and warehouse management services as Owner may
require including handling, packaging, storage, recycling and repackaging of Owner of finished Product (“Logistics Services”). Notwithstanding the above, the Operator commits to provide all other support and services, including
services on logistics and warehousing as Owner may require for the operations of the Facility and needed to enable the performance of the Logistics Services as referenced in a Registered Letter from Operator to Owner dated 27 September 2011.

  

			
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	4	TERM. 

  

	4.1	This Agreement shall govern the Parties rights and obligations with regard to its subject matter with effect from 1 January 2012 (“Commencement
Date”). 

  

	4.2	This Agreement shall continue in force from the Commencement Date until 31 December 2014 (“Initial Term”) and thereafter unless and until
terminated by either Party in accordance with paragraph 4.3, 4.4 or 4.5. 

  

	4.3	Either Party may terminate this Agreement by giving the other Party 18 (eighteen) months’ notice to the end of the Initial Term or any time thereafter effective to
the end of a calendar month, however that no such notice may be given to be effective earlier than 31 December 2014. 

  

	4.4	This Agreement may be terminated by either Party by giving notice to the other Party if the other Party commits a material breach of its obligations under this
Agreement which is incapable of remedy or, in the case of a breach capable of remedy, has not been remedied by the other Party within 60 (sixty) Business Days of receipt of a notice giving details of the breach requiring its remedy having been given
by the Party wishing to terminate. The termination shall take effect on the termination date specified in the notice of termination, which date shall not be less than 60 (sixty) Business Days or more than one year from the date on which the notice
is served. Notwithstanding the forgoing provisions of this paragraph 4.4, if such material breach is not reasonably capable of remedy within 60 (sixty) Business Days, provided that the Party in breach promptly takes all those actions necessary to
remedy the breach and continues diligently prosecute the action necessary to remedy the breach, the 60 (sixty) Business Day cure period specified in the first sentence of this paragraph 4.4 shall be extended to 120 (one hundred and twenty) Business
Days (or such longer cure period on which the Parties may agree) and the effective date of any termination shall be postponed accordingly. For the purposes of this paragraph 4.4, “material breach” means a breach of this Agreement which
causes a Party to suffer either (a) damage to any of its property, assets (including its intellectual property), or its financial position or profits, or (b) loss of any benefit under this Agreement, or by reason of which it becomes more
likely than not that a Party will suffer such damage or loss of benefit. 

  

			
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	4.5	This Agreement may be terminated by either Party with immediate effect by giving notice to the other Party if the other Party ceases or threatens to cease to carry on
business or substantially the whole of its business, or becomes unable to pay its debts, or otherwise becomes insolvent or bankrupt, enters into liquidation, or a receiver, administrator, administrative receiver, manager, trustee or similar officer
is appointed in relation to it or over any of its assets or any action is taken or threatened by or against it analogous to the foregoing in any jurisdiction. 

 

	4.6	In the event of a termination of this Agreement by the Owner pursuant to paragraph 4.3, irrespective of whether such termination is related to a shutdown by the Owner
of the Facility, the Owner shall bear, indemnify and hold the Operator harmless against all costs, claims and liabilities arising in connection with (i) the Severance Costs of the Direct Employees, (ii) the Demolition Costs, (iii) the
Disconnection Costs, and (iv) any Environmental Costs. The Operator shall bear, indemnify and hold the Owner harmless against all costs, claims and liabilities arising in connection with the Severance Costs of the Indirect Employees.

  

	4.7	In the event of a termination of this Agreement by the Operator pursuant to paragraph 4.3, in connection with a shutdown by the Operator of all, or a substantial part,
of its operations at the Site, [*****]. 

  

	4.8	In the event of a termination of this Agreement by the Operator pursuant to paragraph 4.3 otherwise than in connection with a shutdown by the Operator of all or a
substantial part of its operations at the Site, the following shall apply: 

  

	 	(a)	[*****] 

  

			
	Berre Operating Production Agreement	 	9
	
	 [*****] [Confidential Treatment Requested]
 Material separately filed with the Securities and Exchange Commission

	 	    	[*****] 

  

	 	(b)	[*****] 

  

	4.9	The Parties shall interpret and enforce the provisions of paragraphs 4.6 to 4.8 in good faith in accordance with the principles of reasonableness and fairness. The
Operator shall work with the Owner in good faith to [*****]. 

  

	4.10	In the event of a termination of this Agreement by a Party pursuant to paragraph 4.4 (material breach), and such breach results in a shut down or discontinuation of
operations at the Facility, the Party in breach shall bear, indemnify and hold the non-defaulting Party harmless against all costs, claims and liabilities arising in connection with: (i) the Severance Costs of both the Direct and Indirect
Employees, (ii) the Demolition Costs, (iii) the Disconnection Costs, and (iv) any Environmental Costs. 

  

			
	Berre Operating Production Agreement	 	10
	
	 [*****] [Confidential Treatment Requested]
 Material separately filed with the Securities and Exchange Commission

	5	SERVICE FEE; CAPITAL INVESTMENTS. 

  

	5.1	In consideration of the Services, the Owner will pay to the Operator a service fee (“Service Fee”). The Service Fee shall consist of two components:
(a) a direct component (“Direct Component”) covering all direct fixed and variable operating costs (including Materials and other materials historically supplied by the Operator hereunder) including, without limitation, the
cost elements identified on Exhibit A (with the exception of electricity, which shall be metered and invoiced pursuant to paragraph 6.1), and (b) an indirect component (“Indirect Component”), covering the provision of general
site and other services as specified on Exhibit B. The Indirect Component shall not be modified until 31 December 2015 except as per the terms and conditions of Exhibit B. Not later than 1 (one) year prior to 31 December 2015, Parties will
renegotiate the Service Fee for a subsequent period of not less than 5 (five) years to be agreed by the Parties. In the event that the Parties cannot agree on a renegotiated Service Fee or on a period, not later than 6 (six) months prior to
31 December 2015, then the matter will be resolved pursuant to paragraph 15.2. 

  

	5.2	The Service Fee shall be due and payable as scheduled regardless of the quantity of Product actually produced by the Facility or taken by the Owner, and notwithstanding
the occurrence of Force Majeure or any other reason that the Facility did not produce Product or the Owner did not take Product. In the event that unexpectedly large increases or decreases in energy costs shall result in a significant cost increase
or decrease affecting the Direct Component that is not reflected in the existing Service Fee, in the case of an increase the Operator shall have the right to charge a modified Service Fee to enable the Operator to recover such increased energy
costs, and in the case of a decrease the Operator shall charge a modified Service Fee which provides the Owner with the benefit of such reduction in energy costs. In each case, in the event that the Parties are unable to agree on the amount of the
adjustment of the Service Fee required by this paragraph 5.2, the amount of the modified Service Fee, shall be determined in accordance with paragraph 15.2 

 

	5.3	 On or before October 31st of each calendar year during the term of this Agreement, the Parties will meet to review the Owner’s operating plan
for the Facility, which must be consistent with the Facility’s’ operating capabilities, and to establish operating and 

  

			
	Berre Operating Production Agreement	 	11

	 	
maintenance budgets for the Facility, together with a fixed amount Indirect Component and an estimated amount Direct Component for the coming calendar year. If the Parties are unable to agree
upon a Service Fee for the coming calendar year prior to the end of the current calendar year, then the amount of the Service Fee shall be determined in accordance with paragraph 15.2; provided that during the pendency of the dispute resolution
process, the Service Fee for the current year will remain in effect, adjusted, as appropriate, based on the change between January 1 of the current year and January 1 of the coming year in the Index referred to in Exhibit B. As soon as
practicable after the end of each calendar year but at the latest by end of February of the next year, the Operator will calculate the actual costs incurred during that year that should have been part of the Direct Component, and will retroactively
bill or credit the Owner for any difference between the Direct Component portion of the Service Fee collected during that year and the actual Direct Component costs. Any overpayments or underpayments of greater than 10 % in the aggregate over
the course of a calendar year, shall be subject to interest at an annual rate of 3-month EURIBOR plus two percentage points (2 %) as reported on the EURIBOR page published by Reuters (the “Prime Rate”), as posted on July 1 (or
the next succeeding Business Day if July 1 is not a Business Day) of the calendar year in question. The Indirect Component shall not be subject to adjustment based on actual costs. 

 

	5.4	 If the Operator identifies a need or opportunity for additional capital investment with regard to health, safety and/or environment and the integrity
of the Site as a whole (exclusive of routine maintenance operating capital, which is intended to be part of the Direct Component) in the Facility, it shall so notify the Owner. In the event that the Owner, in its reasonable discretion, agrees that a
reasonable and prudent operator would consider such investment as necessary, or in the event that the Owner decides to make an Investment as contemplated by paragraph 5.6, the Owner shall provide the necessary funds for the capital improvement if it
elects to have the investment/Investment carried out by the Operator as its contractor. For any such investment, the Owner agrees that the Operator will be offered the first right of refusal. Within a reasonable time period, 20 (twenty) Business
Days at the latest, the Operator has to either refuse to carry out any such investment or to submit a project proposal to Owner. If the Operator refuses or does not submit a project proposal within such time period, in the Owner’s sole

  

			
	Berre Operating Production Agreement	 	12

	 	
discretion, the Owner has the option to elect a third party contractor to do the investment as long as this third party can satisfy the HSE and project execution standards commonly practised in
the petrochemical industry. The Operator will have the right to HSE and technical clearance of such an investment project, such clearance shall not be withheld unreasonably. In case the Operator will carry out the project, the funds shall be
provided, at the Operator’s option, either on an as-incurred basis or following completion of the project; the Owner shall pay the costs for the capital improvement directly, it being understood that Owner will be the owner of the capital
improvements, or if such ownership shall not be achievable, will be economically treated by the Operator as if the Owner were the owner. 

  

	5.5	Nothing in this Agreement shall be deemed to require the Operator to engage in the operation of the Facility if it reasonably deems such operation to be contrary to
prudent health, safety and/or environmental practices. However, if the Operator believes that any proposed capital expenditure of the type referred to above in paragraph 5.4 is of such a nature that the failure to make such expenditure for the
specified investment would be reasonably likely to result in the Operator deciding that continued operation of the Facility would be contrary to prudent health, safety and/or environmental practices, it shall notify the Owner of that fact when
bringing such proposed capital expenditure to the attention of the Owner. If the Owner, in its reasonable discretion and acting in good faith, does not agree that a reasonable and prudent operator would consider such investment as necessary, the
Parties shall consult in good faith with a view to resolving the dispute between them. 

  

	5.6	 The Owner shall have the right, at its cost, to expand and/or replace the Facility (“Investment”), which expansion and/or replacement
shall be treated as or part of the Facility under the terms of this Agreement. Expansion of the Facility or erection of new production facilities for the Product shall require the consent of the Operator, provided that such consent may only be
withheld in the event that such expansion shall have a substantial detrimental impact on the Site. The Parties will negotiate modifications to this Agreement as reasonably required in connection with the inclusion of the Investment as one part of
the Facility. The Operator will facilitate any Direct Cost reduction projects initiated by the Owner provided that these projects do not contradict the Operator Site strategy and Operator HSE & operational excellence standards. Unless

  

			
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the Operator has reasonable grounds for refusing, the Operator will facilitate the implementation, e.g. by way of participating in and representing the Owner’s interest in discussions and
consultations with authorities and the site staff council. In the event that a proposed project involves a head count reduction, the Operator will use its best endeavours to reassign the Staff concerned. 

 

	6	BILLING AND TERMS OF PAYMENT. 

  

	6.1	The Owner and / or KP Ned BV (as the case may be) will pay the monthly scheduled Service Fee and the cost of the Materials, including electrical power consumed during
the preceding calendar month in arrears for the prior calendar month by Electronic Funds Transfer (EFT) no later than 10 (ten) days after the date of a supporting invoice submitted by the Operator. 

 

	6.2	Late payments will bear interest at the Prime Rate (as posted as of the date the payment was due) plus three percentage points (3%). 

 

	6.3	In addition to, and without limiting any of its rights pursuant to paragraph 17, the Owner and KP Ned BV will have the right, in good faith, to question any
calculations presented by the Operator pursuant to paragraphs 5 or 6 and request reasonable documentary justification and evidence of the basis for such calculation. 

 

	7	TAXES. 

 All taxes,
charges and other levies imposed by any governmental or quasi-governmental entity on the manufacture, sale, shipment or use of the Product or on the Facility (other than taxes based on the Operator’s net income) will be paid by the Owner. Any
applicable VAT will be paid by the Owner in addition to the Service Fee. 
  

	8	WARRANTY. 

 THE OPERATOR
MAKES NO WARRANTY OR REPRESENTATION, EXPRESSED OR IMPLIED, CONCERNING THE PRODUCT OR THE FITNESS THEREOF FOR ANY PURPOSE. 

  

			
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	9	LIABILITIES. 

 Neither
Party shall be liable to the other for indirect or consequential damages of any kind howsoever with the exception of gross negligence and wilful misconduct arising pursuant to this Agreement. Except as otherwise stated herein, the Operator assumes
no risk whatsoever as to the result of the use of the Product delivered pursuant to this Agreement, whether used singly or in combination with other substances. Except as otherwise stated herein, the Owner represents that it is familiar with the
characteristics of the Product and assumes all responsibility and liability for loss or injury to persons or property arising out of the handling, use or possession of Product delivered to it, and shall indemnify and hold harmless the Operator, its
shareholders and their respective directors, officers, employees or agents from and against any such loss or injury. 
  

	10	WAIVER. 

 Any waiver by
the Parties of strict conformance with any of the terms and conditions of this Agreement shall not be a waiver of any subsequent failure to comply with such terms and conditions. 

 

	11	ENTIRETY OF AGREEMENT. 

This Agreement, its attachments and exhibits, together with the other contracts or agreements referenced in this Agreement, contain the
entire understanding between the Parties. Any other agreements between the Parties concerning this matter are hereby superseded. No interpretation, revision or amendment to this Agreement shall be effective unless stated in writing and signed by a
duly authorized representative of each of the Parties. All purchase orders or purchase acknowledgements which may be used to order or acknowledge orders for delivery of Product related to this Agreement shall be deemed intended for record purposes
only and any terms or conditions contained therein shall not serve to add to or modify the terms and conditions of this Agreement. 

  

			
	Berre Operating Production Agreement	 	15

	12	ASSIGNMENT; SUCCESSORS. 

Either Party shall be entitled to assign, sell or otherwise transfer at its sole discretion to any qualified and financial responsible
third party its rights and obligations under the Agreement, and/or all receivables, claims, related rights and security under or relating to the Agreement. The Agreement shall inure to the benefit of and be binding upon any successors or assigns.

  

	13	FORCE MAJEURE 

 Neither
Party shall be liable for any failure or delay in performance hereunder which may be due, in whole or in part, to fire, explosion, strike or labour difficulty (from either Party’s employees or from any third party or public organisation),
accident, breakdown of machinery or equipment, inability to obtain power, labour, or materials from normal sources of supply, transportation or handling accidents or delays, act of God, act, order, regulation or request of government or other public
authorities, war, riot, or civil disorder or any other cause or causes of any nature beyond the reasonable control of the Party affected; provided that no such event shall relieve either Party of its obligation to make payments pursuant to this
Agreement. 
  

	14	ECONOMIC HARDSHIP 

 In the
event there is a decline in the aggregate gross domestic product of the European Union member states for two or more consecutive quarters (as complied according to the European System of Accounts 1995 (ESA95) and published by the Statistical Office
of the European Communities (EUROSTAT) at: 
 http://epp.eurostat.ec.europa.eu/portal/page/portal/euroindicators/peeis)

 and in the event that after such decline the continued performance will in the reasonable judgement of a Party be likely to
result in losses that threaten its solvency, that Party shall notify the other Party accordingly and the first Party shall have the right to request the other Party to negotiate in good faith a potential re-arrangement of the commercial terms and
conditions of this Agreement. 

  

			
	Berre Operating Production Agreement	 	16

	15	GOVERNING LAW AND DISPUTE RESOLUTION. 

  

	15.1	This Agreement shall be governed by and construed under the laws of Germany. Any disputes arising between the Parties in relation to this Agreement which cannot be
settled amicably between the Parties shall be exclusively and finally settled by three arbitrators in Paris, France in accordance with the UNCITRAL Arbitration Rules as in force at the moment of commencement of the arbitral proceedings. The
language of the arbitration shall be English. The appointing authority shall be the President for the time being of the International Court of Arbitration of the International Chamber of Commerce in Paris. 

 

	15.2	In the event that Parties are unable to agree on the amount of the modified Service Fee in accordance with paragraph 5.2 or the Service Fee for the Indirect Component
or estimated Direct Component in accordance with paragraph 5.3, then the amount of the Service Fee (and, in the case of a modified Service Fee pursuant to paragraph 5.2, its period of application), shall be finally determined by a firm of
independent accounting experts as the Parties may agree or, failing such agreement within 15 days, to such independent firm of independent accounting experts of international repute in Paris as the President of the International Court of Arbitration
of the International Chamber of Commerce in Paris, on the application of the Parties, nominate (the “Assessor”). The Parties shall appoint the Assessor jointly and shall each be responsible for one-half of the Assessor’s fees.
The Parties shall jointly instruct the Assessor to determine a fair and equitable Service Fee by references to the changes in costs of the Operator (if any) in the provision of the Services. 

 

	16	CONFIDENTIALITY AND RESTRICTION ON INFORMATION. 

  

	16.1	 All Product containers, specifications, raw material, quantities of Product manufactured, quantities of raw material or Product supplied or delivered,
Product formula, Product manufacturing procedures, Product packaging and repackaging and instructions, process technology, names of customers or destinations of shipments of Product, prices, data, designs, drawings, specifications and any similar
information, and any other information relating to the business of the Owner or the Operator and obtained or disclosed in connection with the transactions contemplated by this Agreement, whether

  

			
	Berre Operating Production Agreement	 	17

	 	
provided in writing, orally or by observation, and further including all technical information and data relating to the Products disclosed to the Operator, are hereinafter called
“Information”. 

  

	16.2	“Confidential Information” is Information disclosed and designated in writing as confidential or, if disclosed other than in writing, is reduced to
writing and designated as confidential within 30 days after disclosure, expressly excluding such of the Information: 

  

	 	(i)	as can be proved by the receiving Party to be generally available to the public in published literature through no fault of the receiving Party;

  

	 	(ii)	as can be proved by the receiving Party to have been in its possession in written form prior to disclosure to or acquisition by the receiving Party hereunder;

  

	 	(iii)	as is disclosed to the receiving Party by a third party having the lawful right to make such disclosure and owing no secrecy commitment to the disclosing Party.

  

	16.3	Each Party hereby agrees (i) to keep Confidential Information confidential at all times and not disclose to any third party or use any of the Confidential
Information for any purpose other than in connection with the transactions contemplated by this Agreement or pursuant to the rights and licences granted in paragraph 1.6, and (ii) that Confidential Information shall be revealed to only those
directors, officers and employees of the receiving Party who have a need to know the Information in order to engage in the transactions contemplated by this Agreement and who have agreed to be bound by the terms hereof. 

 

	16.4	Each Party agrees to impose the foregoing obligations of secrecy and non-use upon its directors, officers, employees, agents and representatives.

  

	17	AUDIT. 

  

	17.1	 In connection with the estimation and reconciliation of the Direct Component portion of the Service Fee determined by the Operator pursuant to
paragraph 5 and the additional annual Pension Cash Out Cost in the Indirect Component as described in Exhibit B, the 

  

			
	Berre Operating Production Agreement	 	18

	 	
Owner will have the right, exercisable at any time during each calendar year or within six (6) months after its end, but no more than once with respect to any calendar year, to have
independent public accountants mutually agreed upon by the Parties (a) review the applicable books and records of the Operator for that calendar year and the year preceding to determine if they are materially correct in accordance with the
provisions of this Agreement, including in particular the provisions of Exhibit A, and (b) issue directly to the Operator and the Owner a report of their findings. If the report of said independent public accountants states that the adjustments
and computations are (1) materially correct in accordance with the provisions of this Agreement, such report will be conclusive and the Owner will pay the reasonable fees and expenses charged for such review and report by said independent
public accountants; or (2) materially incorrect under the provisions of this Agreement, such report will be conclusive and the Operator will pay the reasonable fees and expenses charged for such review and report by said independent public
accountants. If the adjustments and computations are materially incorrect, the Service Fee for the calendar year in question will thereafter be adjusted to comply with such corrected data, and any deficiency or underpayment in past Service Fee
payments will be corrected by appropriate debits or credits to the Owner’s account with interest at the Prime Rate (as posted as of the date the audit commenced) calculated from the date the deficiency or overpayment was incurred. For the
purpose of this paragraph, “materially” shall mean a minimum of EUR 100.000.-. 

  

	17.2	The Parties agree that any over- or undercharge coming out of this audit will be settled within 30 (thirty) days after the issue of the audit report.

  

	18	NOTICE. 

 Any notice to be
given under this Agreement shall be in the English language and in writing and shall be delivered personally or by post, courier or overnight delivery service (delivery charge prepaid), or by fax. Unless the contrary shall be proved, notice shall be
deemed to have been given, (i) if by hand delivery during working hours on a working day, when left at the relevant address, and otherwise on the next working day after delivery, (ii) if by fax during working hours on a working day, when
transmitted, and otherwise on the next working day after transmission, and (iii) if sent by prepaid first class post, on the second working day after the date of posting. 

  

			
	Berre Operating Production Agreement	 	19

 For the purposes hereof, the addresses of the Owner, KP Ned BV and the Operator are as
follows: 
  

			
	Operator :	 	Compagnie Pétrochimique de Berre SAS
		 	Chemin départemental 54
		 	13130 Berre L’Etang, France.
		 	Fax No :
		 	Attention: Monsieur Jean Gadbois, Président.
	
	Owner / KP Ned BV:
		 	Kraton Polymers France S.A.S. / Kraton Polymers Nederland B.V.
		 	Keynes Building,
		 	John M. Keynesplein 10, 1066 EP Amsterdam
		 	Fax No:
		 	Attention: Paul Grotenhuis

 Either Party may change its address set forth above by appropriate notice to the other Party. 

 

	19	INTERPRETATION. 

  

	19.1	In the Agreement: 

  

			
	Assessor	 	shall have the meaning given to that term in 15.2.;
		
	Assigned Rights & Obligation	 	shall have the meaning given to that term in the recitals;
		
	Business Day	 	means any day other than a Saturday or a Sunday or a public holiday in France;
		
	Commencement Date	 	shall have the meaning given to that term by paragraph 4.1;
		
	Confidential Information	 	shall have the meaning give to that term by paragraph 16.2;
		
	Claims	 	shall have the meaning given to that term by paragraph 1.2;
		
	CPB Costs	 	shall have the meaning given to that term by Exhibit A1 and A2;

  

			
	Berre Operating Production Agreement	 	20

			
		
	Demolition Costs	 	means costs and expenses arising out of the demolition of the plant, equipment and buildings owned by the Owner at the Facility following a shutdown;
		
	Direct Component	 	shall have the meaning given to that term by paragraph 5.1 and Exhibit A1 and A2;
		
	Direct Employees	 	means the employees of the Operator directly engaged in the provision of operations and maintenance services at the Facility;
		
	Disconnection Costs	 	means the costs of the disconnection of the plant, equipment and buildings owned by the Owner at the Facility from the utilities and auxiliaries at the Site in accordance with Good
Industry Practice;
		
	Environmental Costs	 	means the cost to remedy any Environment Loss or Damage arising at the Kraton owned Facility out of an event occurring on or after 28 February 2001;
		
	Environmental Loss or Damage	 	means any loss or damage relating to the infringement of an environmental law and/or any other Environmental Matter being the basis for any claim or possible claim (i) by
governmental authorities for enforcement, fines, clean up, removal, response, remediation or other actions or damages pursuant to applicable environmental law; or (ii) by any person, including the Parties, seeking damages, contribution,
indemnification, cost recovery, compensation or injunctive relief or otherwise giving rise to loss or damage;
		
	Environmental Matter	 	means (i) the protection of the environment, worker health and safety and/or the public welfare from actual or potential exposure (or the effects of exposure) to any actual or
potential release, discharge, disposal or emission (whether past or present) of any hazardous substance or waste; (ii) the manufacture, processing, distribution, use, treatment, labelling, storage, disposal, transport or handling of any hazardous
substance or waste, or (iii) soil or groundwater contamination, air pollution or surface water pollution or other actual or threatened impact on the environment, worker health and safety or public
welfare;

  

			
	Berre Operating Production Agreement	 	21

			
		
	Facility	 	shall have the meaning given to that term in the Recitals;
		
	Force Majeure	 	shall have the meaning given to that term by paragraph 13;
		
	FTEs	 	means one or more employees whose combined working time is equivalent to that of one full-time employee;
		
	Good Industry Practice	 	means in relation to the performance of any activity to which this standard is applied, the exercise of that degree of skill, diligence, prudence and foresight as would reasonably
be expected from a properly qualified and competent person engaged in carrying out works or services of a similar size, nature, scope, type and complexity, complying with all applicable laws and published codes of practice;
		
	Gross Negligence	 	means a failure to perform a duty of care in reckless disregard of the reasonably foreseeable consequences (as distinguished from a mere failure to exercise ordinary care) which
affects the life or property of another;
		
	HSE	 	health, safety and environmental;
		
	Indirect Component	 	shall have the meaning given to that term by paragraph 5.2 and Exhibit B;
		
	Indirect Employees	 	means the employees of the Operator engaged in the provision of the Services other than the Direct Employees;
		
	Information	 	shall have the meaning give to that term by paragraph 16.1;
		
	Infringement Claim	 	shall have the meaning given to that term by paragraph 1.6;
		
	Initial Term	 	shall have the meaning given to that term by paragraph 4.2;
		
	Investment	 	shall have the meaning given to that term by paragraph 5.6;
		
	Logistics Services	 	shall have the meaning given to that term by paragraph 3.2;

  

			
	Berre Operating Production Agreement	 	22

			
		
	Materials, Materials I and Materials II	 	shall have the meanings given to those terms by paragraph 2 (a);
		
	OMS	 	shall have the meaning given to that term in the Recitals;
		
	Operator Representative	 	shall have the meaning given to that term by paragraph 1.1;
		
	Owner Representative	 	shall have the meaning given to that term by paragraph 1.2;
		
	Prime Rate	 	shall have the meaning given to that term by paragraph 5.3;
		
	Product	 	shall have the meaning given to that term in the Recitals;
		
	Services	 	means the services to be provided pursuant to paragraph 1.1;
		
	Service Fee	 	shall have the meaning given to that term by paragraph 5.1;
		
	Severance Costs	 	means the costs and liabilities related to or arising out of the termination of employment of any person including, without limitation, all severance costs and claims for loss of
compensation, remuneration or other benefits whether contractual or statutory;
		
	Site	 	shall have the meaning given to that term by paragraph 1.2;
		
	SUMF	 	shall have the meaning given to that term in the Recitals;
		
	Staff	 	shall have the meaning given to that term by paragraph 1.2;
		
	wilful breach	 	means an intentional act or omission which is in disregard of a known risk or a risk so obvious that it cannot be said one were truly unaware of it that risk is so great that it is
highly probable that harm will follow.

  

	19.2	Any reference in this Agreement to “writing”, or cognate expressions, includes a reference to any communication effected by fax transmission, e-mail or any
comparable means of electronic communication to a fixed terminal device. For the avoidance of doubt, “writing” shall not include a text message sent to a mobile telephone. 

  

			
	Berre Operating Production Agreement	 	23

	19.3	Any reference in this Agreement to “Owner” made in relation to the “Assigned Rights & Obligations” shall be deemed to be a reference to
“KP Ned BV”. 

 The Exhibits referred to in and attached to this Agreement form part of this Agreement. 

IN WITNESS of which the Parties have caused this Agreement to be duly executed on the date first above written. 

 

							
	Kraton Polymers France SAS	    	Compagnie Pétrochimique de Berre SAS
				
	By	 	  
	    	By	 	  

				
	Date	 	  
	    	Date	 	  

			
	Kraton Polymers Nederland B.V.	    		 	
				
	 By
	 	  
	    		 	
				
	 Date
	 	  
	    		 	

  

			
	Berre Operating Production Agreement	 	24

 Exhibit A1 
 Direct Fixed Component of Service Fee 
 As Direct Fixed Component of the Service Fee, the
Owner will pay to the Operator (subject to the addition of Value Added Tax or other taxes as may be applicable by law) the following fixed cost elements: 
  

	 	(i)	for direct fixed cost elements all direct cash fixed costs excluding a Site overheads burden of the Facility in plot, including packaging, facilities exclusively
dedicated to the Facility as defined below: 

  

	 	•	 	 Direct Operating Personnel fixed cost 

  

	 	•	 	 Direct Industrial Cleaning cost 

  

	 	•	 	 Direct Other Operating cost 

  

	 	•	 	 Direct Operating CPB Packaging cost 

  

	 	•	 	 Direct Maintenance cost 

  

	 	•	 	 Direct Turn Around cost 

  

	 	•	 	 Direct Plant Change cost 

  

	 	•	 	 Direct Engineering, Technology and Inspection cost 

  

	 	•	 	 Direct Laboratory Analyses cost 

  

	 	•	 	 Direct cost of unloading and storage facilities 

  

	 	•	 	 Direct cost of Spare equipment in on site ware house 

  

	 	•	 	 For the avoidance of doubt the Parties specifically agree that all lines, roads, cables or other means of handling or shipping of goods, materials or
utilities, exclusively dedicated to the Facility are covered under this Direct Fixed Component of Service Fee. 

 The list
above excludes direct cost of land lease and direct cost of office space for Owner Staff which are covered by other agreements. 

Overheads and any surcharges will not be included and are covered in the Indirect Component of the Service Fee provided in Exhibit B.

 Exhibit A2 
 Direct Variable Component of Service Fee 
 As Direct Variable Component of the Service Fee,
the Owner will pay to the Operator (subject to the addition of Value Added Tax or other taxes as may be applicable by law) the following variable operating, storage, transportation and handling cost elements: 

 

	 	(i)	for Materials I and II which includes certain third party raw materials repair materials, certain process and certain other operating materials but excludes utilities:
the actual purchase price paid by the Operator to its supplier, without any surcharge. 

 Packaging materials: the
actual purchase price paid by the Operator to its supplier, without any surcharge. 
  

	 	(ii)	variable cost of energy and utilities and auxiliaries (quantities as actually measured if not otherwise agreed) will be invoiced in accordance with current practice
(as defined in the Calculation Matrix attached as Exhibit C). 

 Fuel, electricity, water and any other
precursor materials will be invoiced at the Operator purchase price without any surcharge. 
 Overheads fixed cost, user charges and any other
surcharges will not be included and are covered in the Indirect Component of the Service Fee provided in Exhibit B. 

  
 26 

 Exhibit B 
 Indirect Component of Service Fee 
  

	 	(i)	As Indirect Component of the Service Fee the Owner will pay to the Operator (subject to the addition of Value Added Tax or other taxes as may be applicable by law)
following elements to cover provisions of general site and other services an amount of Euro [*****]. 

 This amount is potentially
subject to modification as defined below and otherwise fixed during the Initial Term and is called the Base Component (“Base Component”). [*****] of the Base Component are charged as calculated above and [*****] are subject to indexation,
both amounts together are the Indirect Component of Service Fee. 
  

	 	(ii)	Index 

 As
index, the labour index as published by the official French Institute of Statistics (INSEE), referenced as “ Salaires, revenues et charges sociales – Salaires mensuels de base de l’ensemble des salariés – Activités
économiques –Cokéfaction et raffinage” with an INSEE identification number 1567417 (valeur 109,8 on September, 30th 2011) shall be used taking the arithmetic average of the quarterly figures. The yearly calculation is done as follows
and applies as of 1st January 2014: 
  

	 	•	 	 [*****] of Base Component + 

  

	 	•	 	 [*****] of Base Component * “Index actual year” / “Index 2012”. 

Parties agree that the indexation will be postponed until re-adjustment of the Indirect Service Fee in 2014. Parties further agree that
the re-adjustment basis will be discussed in 2013. 
  

	 	•	 	 Parties agree that the Indirect Component comprises an annual capital charge on Utilities and Auxiliaries of [*****] Euros and an additional annual
pension cash out cost of [*****] Euros. The additional annual pension cash out cost are calculated as [*****] of the Additional Total Pension Cash Out Cost estimated at [*****] Euro prorated for a period till 31 December 2015. If such amount
proves to be incorrect, there will be a pro rata adjustment. 

  

			
	
	 [*****] [Confidential Treatment Requested]
 Material separately filed with the Securities and Exchange Commission

	 	•	 	 Parties agree that the Indirect Component will be subject to review in case of material cost reduction projects implemented by the Operator; material
cost reduction projects are those that have a savings potential with regard to Owner of minimum 100.000 Euro/p.a. If Operator achieves cost reductions at no cost, then the Indirect Component will be reduced with Owners share of these cost
reductions. If Operator achieves cost reductions at a cost, Owner will have the right, at its sole discretion, to participate its fair share in the cost, if any, and benefit from an Indirect Component reduction or not to participate and not to
benefit from a reduction. 

  

	 	•	 	 The Indirect Component comprises also the cost made by Operator to burn the Owners waste air in its boilers at UCB. Parties agree that this comprises
the amount of waste air corresponding to a daily capacity of [*****] as per the current operating permit and a maximum amount of waste air of [*****] as currently applied by the Facility at maximum throughput. In case of a capacity increase above
one of these three limits or in case of a steam optimization project, Owner agrees to make an investment in a Catalytic Oxidiser or similar type of waste treatment unit (the “Catox Investment”), under the condition that such investment, to
Owner standards, would be economically viable; in such case, Owner will pay all investment costs, including OSBL (outside battery limits) and integration costs, related to the Catox Investment. 

REFERENCE LIST of items covered in the Base Component lump sum: 
  

	 	•	 	 Fixed cost Utilities 

  

	 	•	 	 Capital charge Utilities 

  

	 	•	 	 Fixed cost Auxiliaries 

  

	 	•	 	 Capital charge Auxiliaries 

  

	 	•	 	 Purchase department, Site Contract management and Warehouse operating cost 

 

	 	•	 	 Site management and general services including HR, HS&E and Finance 

 

	 	•	 	 IT cost 

  

	 	•	 	 Infrastructure cost 

  

	 	•	 	 Fire fighting and Site Security 

  

			
	
	 [*****] [Confidential Treatment Requested]
 Material separately filed with the Securities and Exchange Commission

	 	•	 	 Overheads on Laboratory, Engineering and Inspection 

  

	 	•	 	 Business Taxes 

  

	 	•	 	 HR reorganization cost (Age profile, Plan PSE, Plan Sv Sup) 

 

	 	•	 	 Pension Credit and Additional Pension Cash Out Cost: 

  

	 	•	 	 definition of Pension: means early retirement benefit, payments due in the event of retirement and payments due on reaching a certain service period
with the employer 

  

	 	•	 	 definition of Pension Credit: means the difference between the actual Pension Cash Out Cost paid by the Operator and the Pension charge from Operator
to Owner which is limited to [*****] of gross salary costs as has been the practice between the Parties since the divestment from Shell. 

  

	 	•	 	 definition of Additional Total Pension Cash Out Cost: additional Pension cost due to a change in French pension legislation which is estimated to
amount to [*****] Euro for the period up to and including 31 December 2015 however such amount which is forecasted to decrease considerably for the period thereafter 

 

	 	•	 	 Waste air incineration 

  

			
	
	 [*****] [Confidential Treatment Requested]
 Material separately filed with the Securities and Exchange Commission

 Exhibit C (A): 
 A.) Budget 2012 
 Kraton budget 2012, direct component (in Euro) 

 

					
	 	  	Budget
2012	 
	 OPERATIONAL SUPPORT
	  	 	[*****]	  
	 Technology Support
	  	 	[*****]	  
	 Laboratory
	  	 	[*****]	  
	 Engineering and Inspection
	  	 	[*****]	  
		  	  
	  
	 
	 SUPPLY CO-ORD. & PROCUR.SERVI
	  	 	[*****]	  
		  	  
	  
	 
		
	 PRODUCTION
	  	 	[*****]	  
	 Personnel
	  	 	[*****]	  
	 Industrial Cleaning
	  	 	[*****]	  
	 Other Direct Fix. Operat. Cos
	  	 	[*****]	  
		  	  
	  
	 
	 MAINTENANCE
	  	 	[*****]	  
	 Routine/Extraordinary Maint.
	  	 	[*****]	  
	 Material Activities
	  	 	[*****]	  
		  	  
	  
	 
	 FILLING & DISPATCH
	  	 	[*****]	  
		  	  
	  
	 
	 TOTAL
	  	 	[*****]	  
		  	  
	  
	 

 Kraton Budget Indirect component; 10200 K € 
 Assumption Budget 2012 
  

																					
	 Production (in T)
	  	 	[*****]	  	  	 	KD	  	  	 	[*****]	  	  	KG	  	 	[*****]	  
	 Barrel (in $)
	  	 	[*****]	  	  				  				  		  			
	 SRF (in €/T)
	  	 	[*****]	  	  				  				  		  			
	 Exchange rate
	  	 	[*****]	  	  				  				  		  			

 Utilities 

 

																											
	 	  	 	  	 KD
	 	  	 KG
	 	  	TOTAL KD + KG	 
	 	  	Unit	  	 yield
in unit/kt KD
	  	Projected
Consumption	 	  	 yield
in unit/kt KG
	  	Projected
Consumption	 	  	Projected
Consumption	 	  	Unit
Variable
Costs in €	 	  	Total
Variable
Costs in K€	 
	 Air
	  	‘000 m3	  	 [*****]
	  	 	[*****]	  	  	 [*****] 
	  	 	[*****]	  	  	 	[*****]	  	  	 	[*****]	  	  	 	[*****]	  
	 Electricity
	  	MWh	  	 [*****]
	  	 	[*****]	  	  	 [*****]
	  	 	[*****]	  	  	 	[*****]	  	  	 	[*****]	  	  	 	[*****]	  
	 LP Steam
	  	KT	  	 [*****]
	  	 	[*****]	  	  	 [*****]
	  	 	[*****]	  	  	 	[*****]	  	  	 	[*****]	  	  	 	[*****]	  
	 MP Steam
	  	KT	  	 [*****]
	  	 	[*****]	  	  	 [*****]
	  	 	[*****]	  	  	 	[*****]	  	  	 	[*****]	  	  	 	[*****]	  
	 HP Steam
	  	KT	  	 [*****]
	  	 	[*****]	  	  	 [*****]
	  	 	[*****]	  	  	 	[*****]	  	  	 	[*****]	  	  	 	[*****]	  
	 Nitrogen
	  	‘000 m3	  	 [*****]
	  	 	[*****]	  	  	 [*****]
	  	 	[*****]	  	  	 	[*****]	  	  	 	[*****]	  	  	 	[*****]	  
	 Water - cooling (circul.)
	  	‘000 m3	  	 [*****]
	  	 	[*****]	  	  	 [*****]
	  	 	[*****]	  	  	 	[*****]	  	  	 	[*****]	  	  	 	[*****]	  
	 Water - industrial
	  	‘000 m3	  	 [*****]
	  	 	[*****]	  	  	 [*****]
	  	 	[*****]	  	  	 	[*****]	  	  	 	[*****]	  	  	 	[*****]	  
	 Water - Decarbonated
	  	‘000 m3	  	 [*****]
	  	 	[*****]	  	  	 [*****]
	  	 	[*****]	  	  	 	[*****]	  	  	 	[*****]	  	  	 	[*****]	  
	 Condensat
	  	‘000 m3	  	 [*****]
	  	 	[*****]	  	  	 [*****]
	  	 	[*****]	  	  	 	[*****]	  	  	 	[*****]	  	  	 	[*****]	  
		  		  		  				  		  				  				  				  	  
	  
	 
	 TOTAL
	  		  		  				  		  				  				  				  	 	[*****]	  

  

			
	
	 [*****] [Confidential Treatment Requested]
 Material separately filed with the Securities and Exchange Commission

 Auxiliaries 
  

													
	 	  	Projected
Consumption	 	  	Site
Variable
Costs in K€	 	  	KD/KG
Variable
Costs in K€	 
	 Flare system
	  	 	[*****]	  	  	 	[*****]	  	  	 	[*****]	  
	 Waste water - BIO Liquide
	  	 	[*****]	  	  	 	[*****]	  	  	 	[*****]	  
	 Waste disposal - Bio Solide
	  	 	[*****]	  	  	 	[*****]	  	  	 	[*****]	  
	 Utilities consommées / FG *
	  	 	[*****]	  	  	 	[*****]	  	  	 	[*****]	  
	 UCB North Sewer
	  	 	[*****]	  	  	 	[*****]	  	  	 	[*****]	  
	 Elimination Déchets => EGIDE
	  				  				  	 	[*****]	  
		  				  				  	  
	  
	 
	 TOTAL
	  				  				  	 	[*****]	  

  

			
	
	 [*****] [Confidential Treatment Requested]
 Material separately filed with the Securities and Exchange Commission

 Exhibit C (B) 
 B.) Formulae 
 The abbreviations used herein shall have the meaning as defined below;

 [*****] 
 [*****] 

[*****] 
 [*****] 

[*****] 
 FORMULAE 

 

																																	
	Unit	  	UTILITY	    	 	    	 	 	  	 	 	    	 	  	 	    	 	 	  	 	 	    	 	    	 	    	 	 
												
	 ‘000 M3
	  	water - industrial	    	=	    	 	[*****	] 	  	 	*	  	    	[*****]	  		    				  				    		    		    			
	 ‘000 M3
	  	water - decarbonated	    	=	    	 	[*****	] 	  	 	*	  	    	[*****]	  	+	    	 	[*****	] 	  				    		    		    			
	 ‘000 M3
	  	water - demineralised	    	=	    	 	[*****	] 	  	 	*	  	    	[*****]	  	+	    	 	[*****	] 	  				    		    		    			
	 ‘000 MT
	  	Steam - HP (*)	    	=	    	 	[*****	] 	  	 	*	  	    	[*****]	  	+	    	 	[*****	] 	  	 	*	  	    	DemW	    	+	    	 	[*****	] 
	 ‘000 MT
	  	Steam - MP (*)	    	=	    	 	[*****	] 	  	 	*	  	    	[*****]	  	+	    	 	[*****	] 	  	 	*	  	    	DemW	    	+	    	 	[*****	] 
	 ‘000 MT
	  	Steam - LP (*)	    	=	    	 	[*****	] 	  	 	*	  	    	[*****]	  	+	    	 	[*****	] 	  	 	*	  	    	DemW	    	+	    	 	[*****	] 
	 ‘000 M3
	  	Eau Chaudiere	    	=	    	 	[*****	] 	  	 	*	  	    	[*****]	  	+	    	 	[*****	] 	  	 	*	  	    	DemW	    	+	    	 	[*****	] 
	 ‘000 M3
	  	Condensats	    		    	 	[*****	] 	  	 	*	  	    	[*****]	  	+	    	 	[*****	] 	  	 	*	  	    	DemW	    	+	    			
	 ‘000 M3
	  	Air	    	=	    	 	[*****	] 	  	 	*	  	    	[*****]	  	+	    	 	[*****	] 	  	 	*	  	    	SRF	    		    			
	 ‘000 M3
	  	water - cooling	    	=	    	 	[*****	] 	  	 	*	  	    	[*****]	  	+	    	 	[*****	] 	  	 	*	  	    	RW	    	+	    	 	[*****	] 

 NB: Formulae subject to periodical review as appropriate and in agreement with steering committee 

[*****] [Confidential Treatment Requested] 

Material separately filed with the Securities and Exchange Commission1,3-Butadiene Supply Agreement

 Exhibit 10.3 
 CONFIDENTIAL TREATMENT REQUESTED 
 WITH RESPECT TO CERTAIN PORTIONS HEREOF

 DENOTED WITH “[*****]” 
 Agreement 
 Between 

BASELL POLYOLEFINES FRANCE S.A.S. 
 and 
 KRATON POLYMERS NEDERLAND B.V. 

for the supply of 1,3-Butadiene 
 Berre BD Supply Agreement 

 Table of Contents 
  

					
	 	  	Page	 
		
	 1.      Definitions and Interpretation
	  	 	2	  
		
	 2.      Supply and Purchase of Product
	  	 	4	  
		
	 3.      Quality
	  	 	4	  
		
	 4.      Scheduling and Nomination
	  	 	5	  
		
	 5.      Delivery Terms
	  	 	8	  
		
	 6.      Import
	  	 	8	  
		
	 7.      Export
	  	 	9	  
		
	 8.      Quantity and Quality Measurement
	  	 	10	  
		
	 9.      Price
	  	 	10	  
		
	 10.    Invoicing and Payment
	  	 	11	  
		
	 11.    Term and Termination
	  	 	11	  
		
	 12.    General
	  	 	12	  
		
	 13.    Notices
	  	 	12	  
		
	 14.    Force Majeure
	  	 	13	  
		
	 15.    Liability
	  	 	13	  
		
	 16.    Assignment
	  	 	14	  
		
	 17.    Confidentiality
	  	 	14	  
		
	 18.    Hardship
	  	 	14	  
		
	 19.    Severability
	  	 	15	  
		
	 20.    Governing Law and Arbitration
	  	 	15	  
		
	 21.    Counterparts
	  	 	15	  

 1,3-BUTADIENE SUPPLY AGREEMENT 

THIS AGREEMENT is made January 1, 2012 between: 
  

	(1)	Basell Polyolefines France SAS, a company incorporated in the Republic of France, having its registered office at Usine Chimique de l’Aubette, BP 14 13131
Berre l’Étang Cedex, France, hereinafter referred to as “SELLER”; and 

  

	(2)	Kraton Polymers Nederland B.V., a company incorporated in the Netherlands, having its registered office at John M. Keynesplein 10, 1066 EP Amsterdam, The
Netherlands, hereinafter referred to as “PURCHASER” 

 RECITALS: 

 

	(A)	SELLER manufactures 1,3 Butadiene at its plant in Berre. 

  

	(B)	PURCHASER requires supplies of 1,3 Butadiene to manufacture styrene block copolymers (SBCs) at its plant in Berre and wishes to have a stable long-term supply of 1,3
Butadiene. 

  

	(C)	SELLER is willing to supply 1,3 Butadiene to PURCHASER subject to Seller ́s 1,3-Butadiene plant availability and PURCHASER is willing to purchase and take delivery
of 1,3 Butadiene from SELLER on the terms and conditions set out in this Agreement. 

 IT IS AGREED as follows: 

 

	1.	DEFINITIONS AND INTERPRETATION 

  

	1.1	In this Agreement, where the context so admits, the following words and expressions shall have the following meanings. 

 

					
	Affiliate	 	means in relation to SELLER, LyondellBasell Industries N.V. or any successor ultimate holding company of SELLER and any other company which is now or hereafter directly
or indirectly affiliated with SELLER.
		
		 	means in relation to PURCHASER, Kraton Polymers LLC, or any successor ultimate holding company of Purchaser, or any company which is now or hereafter directly or
indirectly affiliated with PURCHASER.
		
		 	For the purposes of this definition, a particular company is:
			
		 	(i)	  	directly affiliated with another company or companies if the latter hold(s) shares or similar entitlements carrying fifty per cent (50%) or more of the votes exercisable at a
general meeting of shareholders (or its equivalent) of the particular company; and

  

					
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		 	(ii)	  	indirectly affiliated with a company or companies (“the parent company or companies”) if a series of companies can be specified, beginning with the parent company or
companies and ending with the particular company, so related that each company or companies, except the parent company or companies, is directly affiliated with one or more of the companies earlier in the series;
		
	Agreement	 	means this 1,3-Butadiene supply agreement including its Attachments;
		
	Business Day	 	means a day other than a Saturday or Sunday or a national public holiday in France;
		
	First Nomination	 	 shall have the meaning given to that term in clause 4.1;

		
	Force Majeure	 	shall have the meaning given to that term in clause 14.1;
		
	ICIS	 	means (Independent Commodity Information Services) the weekly publication of the ICIS-LOR Group;
		
	Isoprene Runs	 	shall have the meaning given to that terms by clause 4.13;
		
	Independent Inspector	 	means the independent inspector appointed by agreement between the parties pursuant to clause 8.2 for the purpose of determining the loaded quantity;
		
	Platt’s	 	means Platt’s Marketscan, the daily (UK-workdays) quotations service published by Standard & Poor’s a Division of The McGraw-Hill
Group;
		
	Month	 	means a calendar month;
		
	Month One Nomination	 	shall have the meaning given to that term in clause 4.4;
		
	Month Three Nomination	 	shall have the meaning given to that term in clause 4.13;
		
	Planned Turnaround	 	means any proposed temporary termination of production by either SELLER or PURCHASER for planned or mandatory maintenance of facilities necessary for the performance
of either party’s obligations under this Agreement;
		
	Product	 	means 1,3-Butadiene complying with the specifications set forth in Attachment I;
		
	Quarter	 	means a period of three consecutive Months commencing 1 January, 1 April, 1 July and 1 October in any
Year;

  

					
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	Second Nomination	 	shall have the meaning given to that term in clause 4.2;
		
	Specifications	 	means the specifications for the Product set forth in Attachment I;
		
	Third Party	 	a person or entity other than a party or any of their Affiliates;
		
	Tonne	 	means one thousand kilograms; and
		
	Year	 	means a calendar year.

  

	1.2	References in this Agreement to clauses and Attachments are to clauses in and Attachments to this Agreement. The Recitals and Attachments to this Agreement form part of
this Agreement. 

  

	1.3	Headings are inserted for convenience only and shall not affect the construction of this Agreement. 

 

	1.4	The masculine gender shall include the feminine and neuter and the singular number shall include the plural and vice versa. 

 

	2.	SUPPLY AND PURCHASE OF PRODUCT 

  

	2.1	SELLER shall supply to PURCHASER up to [*****] Tonnes of Product per Year, and PURCHASER shall purchase at least [*****] Tonnes of Product per Year.

  

	2.2	The obligation of PURCHASER to take delivery of Product may be taken over wholly or in part by one or more of those of its Affiliates listed in Attachment III.

  

	2.3	Each Party shall notify the other of any Planned Turnaround as soon as possible and, in any event, with a minimum of twelve Months’ written notice given prior to
the proposed date of commencement of the Planned Turnaround. A Party incurring a Planned Turnaround may at its option, by giving notice no later than on the date on which the Second Nomination (as defined in clause 4.2) is given, be released from
its supply or off-take obligations (as the case may be) during the period of the Planned Turnaround following which the total amount of the First Nomination (as defined in clause 4.1) or Second Nomination (as the case may be) shall be adjusted by
the amount of supply or off-take release. SELLER shall use all reasonable efforts to ensure that the amount of any such annual adjustment shall not be applied solely to the monthly nominations falling during the period of the Planned Turnaround but
shall be applied pro-rata among all the monthly nominations of the relevant Year, other than effected by the Planned Turnaround, to ensure a reasonable level of continuity of supply of Product to PURCHASER. 

 

	3.	QUALITY 

  

	3.1	SELLER warrants that all Product supplied to PURCHASER shall comply with the Specifications unless otherwise agreed. 

 

	3.2	 In the event that PURCHASER considers that the quality of Product delivered to it pursuant to this Agreement does not comply with the Specifications,
PURCHASER shall give written notice specifying the nature of its complaint and the parties shall 

  

					
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promptly meet so as to resolve that complaint. In the absence of any agreement to resolve the complaint the parties shall appoint at their joint cost a mutually acceptable independent surveyor to
examine whether the quality of Product, as delivered, complied with the Specifications. Such surveyor shall act as an expert and, in the absence of manifest error, his decision shall be final and binding on the parties. 

 

	3.3	In the event that Product supplied by SELLER to PURCHASER is proved or agreed to have failed to meet the Specifications, PURCHASER shall be entitled at its option to
(i) reject the Product in question and require delivery of Product which meets the Specifications as soon as reasonably possible, but in any event not later than 30 calendar days after receipt by SELLER of a written notice from PURCHASER
requesting such re-supply or, (ii) require SELLER to reimburse the invoice value of the defective Product. 

  

	3.4	In the absence of any written notice from PURCHASER to SELLER within 15 calendar days after delivery of the Product, the Product shall be deemed to have been accepted
by PURCHASER in a satisfactory condition and in all respects in accordance with the Specifications and SELLER shall have no liability to PURCHASER with respect to that delivery. 

 

	3.5	Product to be shipped for SELLER from Third Parties for supply to PURCHASER other than approved suppliers by PURCHASER as specified in Attachment IV must be approved by
PURCHASER prior to shipment. 

  

	4.	SCHEDULING AND NOMINATION 

 Annual
Nomination 
  

	4.1	 On or before
June 30th of each Year, PURCHASER shall nominate the
volume to be supplied and purchased under the terms of this Agreement in the following Year (the “First Nomination”) having due regard to the volume range set out in clause 2 and specifying the time of any Planned Turnaround. In the event
that PURCHASER does not send its First Nomination on or before June 30th, SELLER shall remind PURCHASER by email. In the event that such nomination is not given within two Business Days thereafter, SELLER shall determine the First Nomination for the following Year by sending
it by email to PURCHASER having due regard to the volume range set out in clause 2. 

 The First Nomination
shall not constitute a binding purchase and off-take obligation of the PURCHASER, however, the First Nomination shall form the basis for calculating the Second Nomination as described in clause 4.2, irrespective of the actual volume supplied and
purchased. 
  

	4.2	 On or before September 30th of each Year, PURCHASER shall submit its second nomination of the Volume to be supplied and purchased under the terms
of this Agreement in the following year (the “Second Nomination”) provided that the Second Nomination shall: 

  

	 	(a)	in the event that the First Nomination was not more than [*****] higher than the minimum volume set out in clause 2, not be more than [*****] higher than the minimum
volume set out in the clause 2; and 

  

					
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	 	(b)	in the event that the First Nomination was not more than [*****] lower than the maximum volume set out in clause 2, not be more than [*****] lower than the maximum
volume set out in clause 2; and 

  

	 	(c)	subject to sub-clauses a) and b) in any case, not be more than [*****] lower or higher than the volume set out in the First Nomination; and 

 

	 	(d)	include any adjustment made by reason of any notice given pursuant to clause 2.3 for any Planned Turnaround. 

The Second Nomination shall not constitute a binding purchase and off-take obligation of PURCHASER, however, such Second Nomination shall
form the basis for calculating the Month One Nomination as described in clause 4.4, irrespective of the actual volume supplied and purchased. 
  

	4.3	 In the event that PURCHASER does not send its Second Nomination on or before
September 30th, SELLER will remind PURCHASER by
email. In the event that such nomination is not given within two Business Days thereafter, SELLER shall determine the Second Nomination for the following Year by sending it by email to PURCHASER, having due regard to the volume range set out in
clause 2 and the provisions of this clause 4. 

 Monthly Nomination 

 

	4.4	 On or before the
23rd day of each calendar month during the term of this
Agreement, PURCHASER will notify SELLER of its nomination for the amount of Product to be sold and consumed at Berre and the total amount of Product built-up in SELLER’s stock for export on behalf of PURCHASER for each month on the basis of a
rolling three months programme. The nomination (being the sum of the amount to be consumed by PURCHASER and any accumulated stock) for the first month of any three month rolling programme (the “Month One Nomination”) shall be binding for
both Parties unless – for the avoidance of doubt – so excused by Force Majeure in accordance with clause 14 and shall: 

  

	 	(a)	not deviate more than [*****] Tonnes from one twelfth of the Second Nomination for such Year and 

 

	 	(b)	ensure that the cumulated deviation per Quarter does not exceed [*****] Tonnes and 

 

	 	(c)	ensure that the cumulated deviation per Year does not exceed [*****] Tonnes. 

 

	4.5	 In the event that PURCHASER does not send its nomination for the next three months on or before the 23rd day of the month, SELLER will remind PURCHASER by email. In the
event that such nomination is not given within two Business Days thereafter, SELLER will determine the Month One Nomination by sending it by email to PURCHASER, having due regard to the volume ranges set out in clause 4.4.

  

	4.6	 Subject to available storage capacity of SELLER, PURCHASER may re-allocate up to [*****] Tonnes from the amount of Product nominated in the Month One
Nomination for consumption at its Berre plant to the amount nominated for export in the Month One Nomination or, subject to Product availability from SELLER, may increase Product

  

					
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nominated in the Month One Nomination for consumption at its Berre plant by 500 Tonnes and respectively deduct Product nominated for export in the Month One Nomination up to this volume in order
to react to unexpected changes in demand. 

  

	4.7	 In the event that PURCHASER wants to deviate from any monthly nominations defined in clause 4.4, PURCHASER shall notify SELLER of its intention no
later than on the 23rd day of the month preceding the
month where the deviation shall take place. The parties shall discuss such request and SELLER shall not unduly withhold its consent. 

  

	4.8	In the event of any deviation from the Second Nominations and/or the Month One Nomination, for the avoidance of doubt, so not caused by an event of Force Majeure,
PURCHASER shall be fully liable to SELLER for any direct loss SELLER might suffer as a direct result of such deviation subject to clause 4.9. 

  

	4.9	In the event of any deviation of the actual purchase volume in a Month from the relevant Month One Nomination SELLER shall use reasonable efforts to sell any excess
Product to third parties at the best possible price. In advance of any sales of Product to third parties, in accordance with this clause 4.9, SELLER shall notify PURCHASER of the anticipated sale prices. The Parties agree that the choice of any
Third Party purchaser of Product, in accordance with this clause 4.9, is at the sole discretion of SELLER and SELLER is under no obligation to inform PURCHASER of the identity of any such Third Party purchaser of Product. 

 

	4.10	In the event that SELLER sells any Product to a Third Party pursuant to 4.9: 

 

	 	(a)	if the price paid by the Third Party is lower price than the price payable by PURCHASER under this Agreement, [*****]; and 

 

	 	(b)	if the price paid by the Third Party is a higher price than the price payable by PURCHASER under this Agreement, [*****]. 

 

	 	(c)	In the event that PURCHASER fails to take any Product nominated by PURCHASER by way of a Month One Nomination in accordance with this Agreement and SELLER, despite
using reasonable efforts, cannot sell such Product to a Third Party, [*****]. 

  

	4.11	In the event that SELLER fails to supply any Product nominated by PURCHASER in accordance with this Agreement and PURCHASER exercises its right to purchase the
under-supplied volume of Product from a Third Party pursuant to clause 15.4, and the price paid by PURCHASER to the Third Party is higher than the price for such Product under this Agreement, then provided that PURCHASER has used reasonable efforts
to buy the Product from the Third Party at the best possible price, [*****]. 

  

					
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	4.12	In the event that SELLER fails to supply any Product nominated by PURCHASER in accordance with this Agreement, and PURCHASER has been unable to purchase the whole or
any part of the under-supplied volume of Product from a Third Party despite using reasonable efforts, PURCHASER shall at its option [*****]. 

  

	4.13	PURCHASER shall discuss production runs of PURCHASER products consuming isoprene in lieu of Product (“Isoprene Runs”) with SELLER in advance to find mutual
agreement on Product supply schedules. In the event of an agreed Isoprene Run, PURCHASER has the option to deviate up to a max of [*****] Tonnes of Product from one twelfth of the Second Nomination provided that notice of such deviation is given to
SELLER three months in advance of such agreed Isoprene Run (“Month Three Nomination”) and the cumulated deviations specified in clause 4.4 (b) are respected. The Month Three Nomination shall be binding upon the Parties.

  

	4.14	In case PURCHASER requests Product export in line with clause 7, the month of export so nominated by PURCHASER becomes binding upon the Parties.

  

	5.	DELIVERY TERMS 

  

	5.1	SELLER shall supply Product by pipeline from SELLER’s production facilities in Berre on a CPT basis to PURCHASER’s flange at Berre. To the extent not
inconsistent with any terms of this Agreement, Incoterms (2010 edition) shall apply. 

  

	5.2	Title and risk in the Product shall pass from SELLER to PURCHASER when the Product passes PURCHASER’s flange between SELLER’s and PURCHASER’s plant at
Berre. 

  

	6.	IMPORT 

  

	6.1	In the event that SELLER fails to supply the nominated volume of Product in accordance with the terms of this Agreement (whether as a result of a Force Majeure event or
otherwise), SELLER shall facilitate the import of Product by PURCHASER, including without limitation use of SELLER’s facilities at Berre including, but not limited to, SELLER’s port facilities, shore tanks, pipeline system, and PURCHASER
shall not be liable to SELLER for a terminal, handling or other fee for its use of such facilities. 

  

	6.2	If PURCHASER wishes to import Product from a third party supplier for reasons other than those set out in clause 6.1, the volumes and timing of such imports shall be
subject to SELLER’s prior written consent, such consent not to be unreasonably withheld, and PURCHASER shall pay SELLER a terminal and handling fee of Euro 35.00 per Tonne. 

 

	6.3	If SELLER swaps imported Product with Product supplied to PURCHASER by a Third Party, PURCHASER shall pay to SELLER a handling fee of Euro 17.50 per Tonne.

  

					
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	7.	EXPORT 

  

	7.1	At the request of PURCHASER, SELLER shall make Product available to an Affiliate of PURCHASER, subject to: 

 

	 	(a)	a maximum of [*****] per Quarter and [*****] Tonnes per Year, unless agreed otherwise by the parties; 

 

	 	(b)	PURCHASER giving SELLER at least [*****] months prior written notice of such export, 

 

	 	(c)	the availability of storage and berth capacity at loading (giving priority to SELLER’s requirements); 

 

	 	(d)	a maximum vessel size of [*****] Tonnes 

  

	 	(e)	the export process as further detailed in Attachment V. 

  

	7.2	Provided the intended destination of shipment by PURCHASER is Houston, SELLER will make reasonable efforts to facilitate the handling and unloading of the vessel
through one of its Affiliates. 

  

	7.3	Product exported to the US Gulf Coast pursuant to this clause 7 shall meet the US Gulf pipeline specifications upon loading. 

 

	7.4	Where Product is exported to the US Gulf Coast under this clause 7, PURCHASER shall pay to SELLER [*****]. Any demurrage fees at port of loading (Berre) shall be for
SELLER’s account unless such demurrage fees at port of loading have been caused by circumstances within PURCHASER’s and / or its Affiliates’ reasonable control and influence, in which case these demurrage fees shall be for
PURCHASER’s account. PURCHASER shall send vessel nomination to SELLER for approval. Such approval shall be given within 24 hours latest. The nomination shall include: 

Vessel Name and Imo number 
 Product and Parcel Size + margin on volume [min/max, 5% moloo, 5% molco etc] 

Loading Laycan 

Loading port 

Discharge port and intended terminal 
 Current ETA Loading and discharging port 
 Laytime for discharging [total hours
shinc] 
 Demurrage rate: USD [X] per day pro rata 
 Freight rate: 
 Governing shipping terms: Asbatankvoy charter party terms

  

	7.5	Delivery of exports of Product in accordance with this clause 7 shall take place FOB Berre or FOB Flushing, The Netherlands, Vopak Terminal (Incoterms 2010) in SELLER`s
option. Title in the Product shall pass with risk at the time of delivery. 

  

					
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	8.	QUANTITY AND QUALITY MEASUREMENT 

  

	8.1	For Product delivered by pipeline, the quantity supplied shall be determined by SELLER based on the reading given by its calibrated flow meters, corrected for
temperature. 

  

	8.2	For Product delivered on FOB Berre basis following clause 7, the quantity supplied shall be determined by an independent inspector appointed by agreement between the
parties (‘Independent Inspector’). The basis for determining compliance with quality specifications shall be composite and individual compartment samples taken from shore tank prior to loading by the Independent Inspector. The parties
shall instruct the Independent Inspector to draw samples and submit them to an independent or SELLER’s laboratory of his or her choice for analysis in accordance with that laboratory’s test methods, and to determine the quantity of Product
by reference to shore tank measurements. The quantity of Product determined by the Independent Inspector will be binding on the parties, unless one party proves to the other’s reasonable satisfaction that the Independent Inspector is in error.

  

	8.3	SELLER shall submit to PURCHASER all shipping documents required for export specified in Attachment V and requested by PURCHASER via email not later than five Business
Days before, and make available all original documents not later than five Business Days after the vessel is discharging at port of destination. 

  

	8.4	SELLER shall be responsible for the upkeep and regular maintenance of its calibrated flow meters. SELLER shall arrange for the testing and calibration of all its
calibrated flow meters on a regular scheduled basis. 

  

	8.5	If at any time PURCHASER has reasonable grounds to suspect that any measuring equipment is not accurate in any respect, the discrepancy or suspected discrepancy shall
be immediately reported to SELLER in writing along with any evidence in support of such claim and SELLER shall arrange for the testing of the relevant piece of measuring equipment. 

 

	8.6	If any piece of measuring equipment fails to register or, upon test, is found not to be within ± 0.5 percent accuracy then, for the purposes of this Agreement, a
reasonable adjustment in accordance with generally accepted engineering practices shall be made correcting all measurements made with that piece of measuring equipment. Such adjustments shall reflect, if determinable, the actual period during which
any inaccurate measurements were made. If such period cannot be determined it shall be deemed to be such period as shall be equal to one-half of the time from the date of the previous test of such measurement equipment, provided that the period
covered by any such correction shall not exceed 6 Months. 

  

	9.	PRICE 

  

	9.1	The invoice price, in Euro/Tonne CPT (Incoterms 2010) Berre, shall be paid by PURCHASER to SELLER for Product sold and delivered hereunder and shall be determined in
accordance with the following price formula: 

 Formula = BDEUMCP, [*****],

  

					
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where BDEUMCP (Butadiene European Monthly Contract Price) = the base price in Euro/Tonne per Quarter as published by ICIS LOR, applicable for the Month of loading. 

 

	9.2	If ICIS ceases to publish the above information (including, for the avoidance of doubt, if ICIS ceases to publish a BDEUMCP for Butadiene), then the parties shall agree
in writing an alternative publication or price to be used to determine appropriate quotations. 

  

	9.3	Prices will be subject, where applicable, to VAT Excise Duty and any other government tax or duty. 

 

	10.	INVOICING AND PAYMENT 

  

	10.1	SELLER shall issue to PURCHASER a monthly invoice in Euro within 5 Business Days following the Month in which the deliveries took place. 

 

	10.2	 With the exception of Product exports in accordance with clause 7, PURCHASER shall make payment against each invoice in Euro (or any other currency as
agreed between the parties) no later than the 15th
calendar day after the Month of delivery. Where the 15th
day is a Saturday, payment must be received by SELLER on the last Business Day preceding the 15th. Where the
15th calendar day falls on a Sunday, payment must be
received by SELLER on the next Business Day following the 15th. 

  

	10.3	PURCHASER shall make payment against each invoice relating to exports of Product no later than 60 days after the bill of lading date. 

 

	10.4	All invoices except for invoices relating to the export of Product to the US must be sent to: 

Kraton Polymers Nederland B.V. 
 Finance Department 
 Keynes Building 

John M. Keynesplein 10 
 1066 EP Amsterdam 
 The Netherlands 

(VAT Number: FR 50 522964196) 
  

	10.5	Invoices relating to the export of Product to the US must be issued and sent to: 

 Kraton Polymers L.L.C. 
 Belpre Invoice Processing 

PO Box 219 

Belpre Ohio 45714 

(Tel: +1 740 423 2410, Fax: +1 740 423 2420) 
  

	11.	TERM AND TERMINATION 

  

	11.1	 This Agreement shall be deemed to have become effective on 1st January 2012 and shall remain in force until terminated either in accordance with either clause 11.2 or 11.3
below or by either party giving the other at least 18 months’ notice of termination in writing expiring on
31st December 2014 or any anniversary of that date.

  

					
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	11.2	If at any time during the term of this Agreement: 

  

	 	11.2.1	either party ceases to carry on business, the other party may terminate this Agreement with immediate effect (without prejudice to its other rights and remedies); or

  

	 	11.2.2	either party fails to perform their obligations under this Agreement (except clause 2.1) and does not remedy that failure within 60 calendar days of receipt of written
notice from the other party, then the other party shall be entitled (without prejudice to its other rights and remedies) to terminate this Agreement with immediate effect. 

 

	11.3	 If SELLER decides to cease operation of its 1,3-Butadiene manufacturing plant in Berre or PURCHASER decides to cease operation of its
1,3-Butadiene-based Styrene Block Copolymers (SBC’s) manufacturing plant in Berre, the party deciding to cease such operation may terminate this Agreement at any time subject to notice of termination in writing of not less than 18 month, such
notice not to expire before 31st of December 2014.

  

	12.	GENERAL 

  

	12.1	This Agreement shall be binding upon and shall inure for the benefit of the permitted assignees of the parties. 

 

	12.2	No failure to exercise, and no delay or forbearance in exercising, any right or remedy in respect of any provision of this Agreement shall operate as a waiver of such
right or remedy. 

  

	12.3	Variations of this Agreement shall not be effective unless made in writing signed by duly authorised representatives of the parties. 

 

	13.	NOTICES 

 Any notice
required to be given by either party to the other shall be in writing and shall be deemed validly served by hand delivery or by prepaid registered letter, sent through the post to its address given below, or such other address as may from time to
time be notified for this purpose and any notice served by hand shall be deemed to have served on delivery, and any notice served by prepaid registered letter shall be deemed to have been served 48 hours after the time of which it was posted, and in
proving service it shall be sufficient (in the case of service by hand or prepaid registered letter) to prove that the notice was properly addressed and delivered or posted, as the case may be. 

PURCHASER: KRATON POLYMERS NEDERLAND B.V. 
 Keynes Building 
 John M. Keynesplein 10 

1066 EP Amsterdam 

The Netherlands 

SELLER: BASELL POLYOLEFINES FRANCE SAS 
 81 Avenue Francois Arago, 
 92000 Nanterre 

France 

  

					
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	14.	FORCE MAJEURE 

  

	14.1	Neither party shall be under any liability to the other whether in contract or in tort due to the first party being delayed or hindered in or prevented from performing
any or all of its obligations under this Agreement by reason of fire, explosion, accident, flood, act of God, war, riot, labour dispute, strike, lockout, plant breakdown, shortage or non-availability of raw materials or any other cause (whether or
not of the same nature as the foregoing) beyond the reasonable control of the party in question (‘an event of Force Majeure’). 

  

	14.2	For the avoidance of doubt, any reduction in the production or supply of raw materials within the reasonable control of SELLER [*****] shall only constitute an event of
Force Majeure, if SELLER is generally (including other than his usual sources) unable to obtain any raw materials used in manufacturing the Product in a commercially reasonable way, measured objectively and giving consideration to historical
practices. 

  

	14.3	If either party is unable to perform any of its obligations under this Agreement by reason of any event of Force Majeure, or if either party considers it likely that it
may become so unable, then that party shall as soon as reasonably practicable notify the other of the nature, estimated extent and duration of such inability. In case of any reasonable doubt as to occurrence of any event of Force Majeure, preventing
a party from fulfilling its contractual obligations under this Agreement, the other party has the right to have any of such causes confirmed by an independent auditor, subject to the approval of the other party, such approval not to be unreasonably
withheld. In such an auditing process, the party declaring Force Majeure will give access to any necessary information available to that party, unless that party is bound by secrecy agreements. However it being explicitly understood that all
decisions concerning health, safety and environmental matters shall be at the sole discretion of the party declaring Force Majeure. The party affected by Force Majeure shall use all reasonable efforts to remedy the event of Force Majeure as soon as
possible. 

  

	14.4	In the event of a shortage of Product supply or demand under this Agreement caused by an event of Force Majeure, the volume to be delivered or taken in the period
affected by Force Majeure shall be reduced on a pro rata basis with quantities to be delivered or taken under binding contracts in existence at the time the Force Majeure event occurred or could reasonably be anticipated. 

 

	15.	LIABILITY 

  

	15.1	Subject to clause 15.3, in the event that Product supplied under this Agreement does not comply with the Specifications, SELLER shall promptly replace such Product or,
at the option of PURCHASER, reimburse PURCHASER the invoice value of the defective Product and SELLER shall have no other liability in contract or in tort or in any other way for any loss or damage to PURCHASER arising from any act or omission in or
relating to the supply or failure to supply Product under this Agreement. 

  

	15.2	 Subject to clause 15.3, neither party shall be liable to the other for loss of profits, loss of margin, loss of use, loss of contract, loss of good
goodwill or any indirect or 

  

					
	 [*****] [Confidential Treatment Requested]
	  	- 13 -	  	Berre BD Supply Agreement
	Material separately filed with the Securities and Exchange Commission	  	

	 	
consequential losses of any nature whatsoever, whether or not caused by or resulting from the negligence of such party or breach of its statutory duties or a breach of its obligations under this
Agreement howsoever caused. 

  

	15.3	Nothing in this Agreement shall exclude, restrict or limit any liability of SELLER for: 

 

	 	(i)	death or personal injury resulting from negligence as defined in the Unfair Contract Terms Act 1977; or 

 

	 	(ii)	fraud or any other matter if and to the extent that, under English law, liability for it cannot be excluded, restricted or limited as against PURCHASER in the context
of this Agreement. 

  

	15.4	To the extent that SELLER is in breach of any supply obligation under this Agreement, or if SELLER has failed to supply Product pursuant to an event of Force Majeure
which has, in any case, resulted in a shortfall in supply or failure in supply of Product to PURCHASER under this Agreement, PURCHASER shall, upon prior written notice to SELLER of such intention, have the right to purchase elsewhere at its own risk
and cost, such quantities of Product as may be necessary to cover the shortfall in its requirements resulting from the shortfall in, or failure to, supply to it during the period of such shortfall or failure to supply. 

 

	15.5	Any quantities of Product purchased by PURCHASER from Third Parties in the context of clause 15.4 shall be deducted from the annual volume of Product on an equivalent
basis for the purposes of clause 2.1. 

  

	16.	ASSIGNMENT 

 Either party
may at any time, with the prior written consent of the other party (such consent not to be unreasonably withheld or delayed), assign all or any part of the benefit of, or its rights and benefits under, this Agreement except that no consent shall be
required in the case of an assignment to an Affiliate or Affiliates. 
  

	17.	CONFIDENTIALITY 

 Each
party shall ensure that unless the other party gives its prior written consent no information regarding the contents or performance of this Agreement shall be disclosed except to an Affiliate and only then, if and to the extent such Affiliate needs
to know the terms and conditions of this Agreement. The party in question shall ensure that the Affiliate in question is notified of the confidential nature of this Agreement and that such Affiliate enters into an appropriate confidentiality
undertaking. 
  

	18.	HARDSHIP 

 In the event of
a decline in the aggregate gross domestic product of the European Union member states for two more consecutive Quarters (as compiled according to the European System of Accounts 1995 (ESA95) and published by Statistical Office of the European
Communities (EUROSTAT) at http://epp.eurostat.ec.europa.eu/portal/page/portal/euroindicators/peeis) and where continued performance in the reasonable judgement of a party is likely to result in losses that threaten its solvency, that party shall
notify the other party accordingly and the parties shall meet a soon as reasonably practicable to negotiate in good faith an 

  

					
		 	- 14 -	 	Berre BD Supply Agreement

 
amendment of the commercial terms and conditions of this Agreement. For the avoidance of doubt: until the conclusion of such amendment or in case the Parties cannot agree on the terms and
conditions of such amendment, the terms and conditions of this Agreement shall continue to apply. 
  

	19.	SEVERABILITY 

  

	19.1	If any of the provisions of this Agreement is or becomes illegal, void or unenforceable under the law of any jurisdiction, such provision shall be deemed to be deleted
from this Agreement and the remaining provisions of this Agreement shall remain and continue in full force and effect. 

  

	19.2	The invalidity of one or more provisions of this Agreement shall not affect: 

 

	 	(a)	the legality, validity or enforceability in that jurisdiction of any other provision of this Agreement; or 

 

	 	(b)	the legality, validity or enforceability under the law of any other jurisdiction of that or any other provision of this Agreement. 

 

	20.	GOVERNING LAW AND ARBITRATION 

  

	20.1	This Agreement shall be governed by and construed in accordance with English law. 

 

	20.2	In the event any dispute, controversy, or difference of opinion arises between the parties hereunder out of or in relation to or in connection with this Agreement or
the breach thereof, the parties agree that all disputes arising in connection with the present Agreement shall be finally settled under the rules of conciliation and arbitration of the International Chamber of Commerce by three (3) arbitrators
appointed in accordance with those rules. The place of arbitration shall be Rotterdam and the language shall be English. 

  

	21.	COUNTERPARTS 

  

	21.1	This Agreement may be executed in any number of counterparts, and by the parties in separate counterparts, but shall not be effective until each party has executed at
least one counterpart. 

  

	21.2	Each counterpart shall constitute an original of this Agreement, but all the counterparts shall together constitute but one and the same instrument.

 IN WITNESS whereof this document has been signed by duly authorised persons on behalf of the parties the day and year first
before written. 
  

	
	BASELL POLYOLEFINES FRANCE SAS
	  

	
	KRATON POLYMERS NEDERLAND B.V.
	  

  

					
		 	- 15 -	 	Berre BD Supply Agreement

 Attachment I 

 

									
		  	Special Quality Requirement	  	Signed:
	1,3 Butadiene
	SC Berre
	PRODUCT CODE	  	[*****]	  		  		  	
	REFERENCE	  		  		  	
	DATE OF ISSUE	  	6.2.1995	  		  		  	
					
	 PROPERTY
	  	 Unit
	  	 Specification Method
	  	 SC Berre SPEC
	  	 Revised

	1,3 Butadiene	  	%(m/m)	  	 [*****]
	  	 [*****]
	  	
	 [*****]
	  	mg/kg	  	 [*****]
	  	 [*****] 
	  	
	 [*****]
	  	mg/kg	  	 [*****]
	  	 [*****] 
	  	
	 [*****]
	  	mg/kg	  	 [*****]
	  	 [*****] 
	  	
	 [*****]
	  	mg/kg	  	 [*****]
	  	 [*****] 
	  	
	 [*****]
	  	mg/kg	  	 [*****]
	  	 [*****] 
	  	
	 [*****]
	  	mg/kg	  	 [*****]
	  	 [*****] 
	  	
	 [*****]
	  	mg/kg	  	 [*****]
	  	 [*****] 
	  	
	 [*****]
	  	mg/kg	  	 [*****]
	  	 [*****] 
	  	
	 [*****]
	  	mg/kg	  	 [*****]
	  	 [*****] 
	  	
	 [*****]
	  	mg/kg	  	 [*****]
	  	 [*****] 
	  	
	 [*****]
	  	mg/kg	  	 [*****]
	  	 [*****] 
	  	
	 [*****]
	  	mg/kg	  	 [*****]
	  	 [*****] 
	  	
	 [*****]
	  	mg/kg	  	 [*****]
	  	 [*****] 
	  	
	 [*****]
	  	mg/kg	  	 [*****]
	  	 [*****] 
	  	
	 [*****]
	  	mg/kg	  	 [*****]
	  	 [*****] 
	  	
	 [*****]
	  	mg/kg	  	 [*****]
	  	 [*****] 
	  	
	 [*****]
	  	mg/kg	  	 [*****]
	  	 [*****] 
	  	

  

	(*)	For Butadiene imports: no free water. For produced BD, compliance with water content is relying on glycol operation by PURCHASER’S plant. 

  

					
	 [*****] [Confidential Treatment Requested]
	  		  	
	Material separately filed with the Securities and Exchange Commission

 Attachment II 
 Intentionally left blank 

  
 Berre BD Supply
Agreement 

 Attachment III 

List of PURCHASER Affiliates 

Kraton Polymers France SAS 
 Kraton Polymers US
LLC 
 Kraton Polymers Nederland B.V. 

  
 Berre BD Supply
Agreement 

 Attachment IV 
 PURCHASER Approved 1,3-Butadiene Suppliers List for Berre. 
 Totalfina (Lavera) 

Ineos (Lavera) 
 Polimeri Europe

  
 Berre BD Supply
Agreement 

 Attachment V 
 EXPORT DOCUMENTATION 
 [*****] 

  

					
	 [*****] [Confidential Treatment Requested]
	  		  	Berre BD Supply Agreement
	Material separately filed with the Securities and Exchange Commission

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