Document:

Property
          Rental Contract

        

        

        Landlord:  Shanghai
          Sandi CNC equipment Ltd. Co,

        Tenant:  Zhuhai
          King Glass Engineering Ltd. Co. (Shanghai)

        

        In
          accordance of “Contract law of People’s Republic of China” and “Shanghai rental
          property regulations” (hereon called “Regulations”), the Landlord and the Tenant
          would enter the rental contract on a mutual agreement; the contract should
          be
          formed on the basis of justice, trust, fairness and honesty.

        

        
          	 	
                  1.

                	
                  Condition
                    of Rental Property

                

        

        1.1  The
          subjected property, which the landlord has the legal ownership of, is located
          in
          FENGXIN (District/ County) DAYIE RD (Road) South (TAIZHONGGANGHE) (No.).
          Total
          construction area of the subjected property is 8811 m2 (Total of 3 buildings;
          1
          is still under construction, rent payment will start upon the project completion
          of the building), function of property was classified as industrial purpose.
          See
          attachment for plan of subjected property. 

        

        
          	 	
                  2.

                	
                  Rental
                    Purpose

                

        

        
          	 	
                  2.1

                	
                  The
                    tenant assures the subjected rental property would be used as
                    a
                    workshop/factory for fabrication of materials for building curtain
                    wall
                    system, the tenant would comply with all regulations of national
                    and
                    Shanghai regarding of usage of property and property management.
                    

                

        

        
          	 	
                  2.2

                	
                  The
                    tenant promises that within the rental period, prior to obtaining
                    written
                    permission from the Landlord and approvals from local authorities,
                    the
                    functional purpose of the subjected property would not be altered.
                    

                

        

        

        
          	 	
                  3.

                	
                  Handover
                    Date and Leasing Period

                

        

        
          	 	
                  3.1

                	
                  According
                    to the mutual agreement between the Landlord and the Tenant,
                    the Landlord
                    would handover 2 buildings to the Tenant on the 8th
                    of
                    July, 2005, total construction area is 5854 m2. The third building
                    with a
                    construction area of 2927 m2, including a security room 30 m2,
                    would start
                    rental payment after completion and handover to
                    tenant.

                

        

        

        Lease
          Period: The
          lease
          period of the subjected property is from 8th
          of July,
          2005, till 7th
          of July,
          2011

        

        
          	 	
                  3.2

                	
                  Upon
                    the end date of the lease, the Landlord has the right to reclaim
                    the
                    property and the tenant shall return the property in a timely
                    manner. If
                    the tenant has to provide a written document to the Landlord
                    3 months
                    prior to the expiry date of the current contract if the tenant
                    wishes to
                    continue the lease; a separate rental agreement should be reached
                    between
                    Landlord and the Tenant, cost of rent should renegotiate.
                    

                

        

        

        
          	 	
                  4.

                	
                  Cost
                    of Rent, Payment Method and Time
                    Limits

                

        

        
        

         

        
          
             

          

          
             

            
              

            

          

          
             

          

        

         

        
          	 	
                  4.1

                	
                  The
                    Landlord and the tenant agreed that the subjected property per
                    day, per m2
                    for the first three years (from 8th
                    of
                    July, 2005 to 6th
                    of
                    July, 2008) of the leasing period is $0.37 RMB/m2/day, (rent
                    payment)
                    Total monthly rent payment (3 buildings) is RMB 99160.46, (NINTY
                    NINE
                    THOUSAND ONE HUNDRED AND SIXTY YUAN AND FOUR JIAO LIU FEN). Before
                    the
                    handover of the third building, the total rent payment is RMB
                    65881.89,
                    (SIXTY FIVE THOUSAND EIGHT HNDRED AND EIGHTY ONE YUAN AND EIGHT
                    JIAO JIU
                    FEN). Security room monthly rent is RMB 337.63/m2, last three
                    years of the
                    lease, the rent is RMB 0.4/m2/day, total monthly rent payment
                    is RMB
                    107200.50 (ONE HUNDRED THOUSAND AND SEVENTY TWO HUNDRED AND FIVE
                    JIAO).
                    Prior to the handover of the third building, total monthly payment
                    is RMB
                    71223.67 (SEVENTY ONE THOUSAND TWO HUNDRED AND TWEENTY THREE
                    YAUN AND SIX
                    JIAO AND SEVEN FEN). Security room monthly rent is RMB
                    365/m2

                

        

        

        
          	 	
                  4.2

                	
                  The
                    tenant should pay the rent 10 days in advance of the payment
                    due date for
                    next month, paid before use. If overdue, the penalty of 2% of
                    daily rent
                    per day will be imposed.

                

        

        

        
          	 	
                  4.3

                	
                  Payment
                    method for tenant: Telegram Transfer or Check, Quarterly payment.
                    

                

        

        

        
          	 	
                  5.

                	
                  Rental
                    Bond and Other Expenses

                

        

        

        
          	 	
                  5.1

                	
                  According
                    to the agreement between the Landlord and tenant, upon the handover
                    of the
                    property, the tenant should provide a rental bond, equivalent
                    to 1 month
                    rent, amount to RMB 99160.46 to the Landlord. Prior to the handover
                    of the
                    third building, the rental bond is RMB 65881.89. The Landlord
                    should
                    provide a receipt or equivalent document to the Tenant after
                    receiving the
                    rental bond from the Tenant.

                

        

        

        Upon
          the
          termination of the rental contract, the Landlord should deducted all necessary
          expenses which stated in the contract the tenant should be responsible
          for, from
          the rental bond and return the rest of the amount to the Tenant free of
          interest.

        

        
          	 	
                  5.2

                	
                  During
                    the rental period, the Tenant should be responsible for all operational
                    expenses, such as electricity, water, gas, telephone, etc. All
                    other
                    expenses occurred from the property should be the Landlord’s
                    responsibility.

                

        

        

        
          	 	
                  6.

                	
                  Property
                    Usage Requirement and Maintenance
                    Responsibilities

                

        

         

        
          
             

          

          
             

            
              

            

          

          
             

          

        

        
 

        
          	 	
                  6.1

                	
                  During
                    the rental period, the tenant should inform the Landlord immediately
                    when
                    damages or building faults was found on the property: The Landlord
                    should
                    fix the damages/faults within 3 days after received the complaint
                    from the
                    tenant. If the Landlord fail to fix the damages/faults within
                    the period
                    stated above, the tenant could fix the problems on its own, costs
                    can be
                    deducted from the monthly rent payment.

                

        

        

        
          	 	
                  6.2

                	
                  During
                    the rental period, the Tenant should care for the property at
                    a reasonable
                    level. Any damages or faults caused by the in proper conduct
                    or use by the
                    Tenant, the Tenant should be responsible for the repair of such
                    damages,
                    if the Tenant failed to comply, the Landlord could repair instead
                    and all
                    costs would be paid by the Tenant.

                

        

        

        
          	 	
                  6.3

                	
                  During
                    the rental period, the Landlord should ensure the property is
                    at a fair
                    condition, which is safe and operable. 3 day notice should be
                    served if
                    any inspection or maintenance to the property would be carry
                    out by the
                    Landlord. The Landlord should try to minimized the effect of
                    the Tenant
                    during such activities.

                

        

        

        
          	 	
                  6.4

                	
                  Aside
                    from the appendix 3 of this contract, the Tenant should need
                    any other
                    maintenance or require any extra equipment from the Landlord,
                    a written
                    permission from the Landlord and approvals form local authorities
                    is
                    required. 

                

        

        

        
          	 	
                  7.

                	
                  Property
                    Conditions Upon the Termination of
                    Contract

                

        

        

        
          	
                	7.1	
                  Unless
                    the Landlord agreed to extend rental contract with Tenant, the
                    Tenant
                    should return the property to the Landlord within 10 days of
                    the expiry of
                    the rental period. Per day of overdue without the consensus of
                    the
                    Landlord, penalties of double the rent /m2/day would be imposed
                    upon the
                    Tenant. 

                

        

        

        
          	 	
                  8.

                	
                  Sub-letting,
                    Transfer of lease and exchange

                

        

        
          	 	
                  8.1

                	
                  Unless
                    the Landlord agreed within this contract’s supplementary, during the lease
                    period, the Tenant should seek written approvals from the Landlord
                    before
                    sub-letting part or all of the property to
                    others.

                

        

        
          	 	
                  8.2

                	
                  During
                    the rental period, if the Landlord has the need to sale the subjected
                    property, the Tenant should received a notice 3 months prior
                    to the sale,
                    and the Tenant has the priority to purchase the property under
                    equivalent
                    terms. 

                

        

        

        
          	 	
                  9.

                	
                  Termination
                    of Contract

                

        

        
 

        
          
             

          

          
             

            
              

            

          

          
             

          

           

        

        
          	
                	
                  9.1

                	
                  The
                    Landlord and the Tenant agreed that under the circumstances listed
                    below,
                    the contract can be terminated without any responsibilities on
                    either
                    parties:

                

        

        
          	 	
                  1.

                	
                  The
                    usage right of the land, which the property is situated, was
                    recalled by
                    the local authorities according to the laws of
                    P.R.China

                

        

        
          	 	
                  2.

                	
                  The
                    property was recalled due to public
                    interest

                

        

        
          	 	
                  3.

                	
                  The
                    property is included in the demolition zone for city
                    rebuilding

                

        

        

        
          
            	
                  	9.2	
                    The
                      Landlord and the Tenant agreed that under the circumstances
                      listed below,
                      one party can terminated the contract by issue a written notice
                      to the
                      other party. The party which did not comply with the contact
                      should pay
                      the other party double the monthly rental payment as a penalty;
                      if there
                      is damages occurred, and the penalty can not cover the full
                      amount of the
                      damages caused, the difference between the penalty and the
                      full damage
                      amount should be paid by the party that caused the
                      damages:

                  

          

        

        
          	 	
                  1.

                	
                  10
                    days after the Landlord can not handover the property in time
                    and the
                    tenant has informed the Landlord

                

        

        
          	 	
                  2.

                	
                  The
                    property did not meet the property requirement stated in the
                    contract ; or
                    the property has faults that might affect the safety of the
                    Tenant

                

        

        
          	 	
                  3.

                	
                  The
                    Tenant changed the function of the property without the consensus
                    of the
                    Landlord, which caused damages to the
                    property

                

        

        
          	 	
                  4.

                	
                  Structural
                    damages caused by the Tenant

                

        

        
          	 	
                  5.

                	
                  The
                    Tenant sub-let or sale the leasing right of the property without
                    the
                    consensus of the Landlord

                

        

        
          	 	
                  6.

                	
                  The
                    Tenant fails to pay the rental payment more than 1 month
                    

                

        

        

        
          	 	
                  10.

                	
                  Responsibilities

                

        

        

        
          	 	
                  10.1

                	
                  The
                    Landlord should repair any damages or structural faults at the
                    time of
                    handover within 7 days of the handover date. If the reparation
                    fail to
                    occur after the 7 day, the Landlord should agree to lower the
                    rental cost
                    and amend the clause for rent payments

                

        

        
          	 	
                  10.2

                	
                  The
                    Landlord is responsible for any damages or lose the Tenant suffered
                    due to
                    the Landlord failed to inform the Tenant on restrictions on Mortgages
                    and
                    ownership of property prior to the
                    lease

                

        

        
          	 	
                  10.3

                	
                  The
                    Landlord is responsible if during the rental period, the Landlord
                    fail to
                    comply with the contract in terms of maintenance responsibilities
                    and
                    caused damages to the property and Tenant’s personal or property
                    damages

                

        

        
          	 	
                  10.4

                	
                  During
                    the rental period, if the Landlord one-sidedly terminated the
                    contract
                    without any condition stated in this contract, the Landlord should
                    pay the
                    Tenant double the monthly rental payment as penalty. If the penalty
                    cannot
                    cover loses of suffered by the Tenant, the difference should
                    be paid by
                    the Landlord as well.

                

        

         

        
          
             

          

          
             

            
              

            

          

          
             

          

        

        
 

        
          	 	
                  10.5

                	
                  The
                    Landlord has the right to request the Tenant to revert the properties
                    to
                    original status if the Tenant has removed, increased or renovated
                    the
                    facilities or decoration without the permission from Landlord
                    or overrun
                    the formal approval from Landlord.

                

        

        

        
          	 	
                  10.6

                	
                  If
                    the Tenantry ceases the Lease Contract under the contract period,
                    and this
                    action is not according to any clause of this contract, the Tenantry
                    should pay to the Landlord extra One Month rent as fell back
                    penalty. If
                    that fell back penalty cannot countervail the lost of the Landlord,
                    the
                    Tenantry should take the responsibility to compensate the rest
                    to the
                    Landlord. The Landlord can deduct the deposit to compensate the
                    lost, if
                    the deposit is not enough to countervail the lost of the Landlord,
                    the
                    Tenantry should take the responsibility to compensate the rest
                    to the
                    Landlord. The Tenantry cannot remove any access, goods or machinery
                    until
                    he has paid the fell back penalty to the
                    Landlord.

                

        

        

        
          	 	
                  10.7

                	
                  If
                    the Tenant cannot pay the rent after Ten Days from maturity,
                    the Tenant
                    will be count as ceasing the Lease Contract and causing the fell
                    back
                    action. The Landlord has the right to take back the properties.
                    If any
                    material or goods remain in the properties, then all of these
                    will count
                    as the abjuration from the Tenantry, the Landlord has the right
                    to treat
                    these materials in his way and the Tenantry cannot object the
                    action taken
                    by the Landlord. The Tenantry should bear the cost and the result
                    for such
                    action, and the Landlord has the right to seek the legal action
                    to the
                    Tenantry.

                

        

        

        
          	 	
                  11.

                	
                  Other
                    Clause

                

        

        

        
          	 	
                  11.1

                	
                  Supplementary
                    clause can be added to this contract with the agreement between
                    the
                    Landlord and the Tenant. The attachments and supplementary clauses
                    of this
                    contract are indescribable. Any words or print characters on
                    the
                    attachments, supplementary clauses or contracts will have the
                    same force
                    and effect.

                

        

        

        
          	
                	11.2	
                  The
                    Landlord and the Tenant should understand his right, obligation
                    and
                    responsibilities before signing of this Lease Contract and they
                    should
                    strictly follow the clauses state in this Contract. Any party
                    who offends
                    this contract, another party has the right to claim for
                    compensation.

                

        

        

        
          	 	
                  11.2

                	
                  If
                    any disputes rise between the Landlord and Tenant during the
                    carry out oft
                    this Lease Contract, they should settle the disputes under negotiation,
                    and if they cannot settle the problem themselves, they can settle
                    the
                    disputes by the local court.

                

        

        

        
          	
                	11.4	
                  The
                    Lease contracts are signed with 4 copies, each party take 2 copies
                    for
                    reference.

                

        

        

        
          
             

          

          
             

            
              

            

          

          
             

          

        

        

        Attachment
          1: Supplementary Clauses

        

        
          	 	
                  1

                	
                  The
                    landlord should provide not less than at least 1 number 5 tons
                    gantry for
                    each workshop of each building, and One workshop should have
                    2 numbers of
                    gantry.

                

        

        
          	 	
                  2

                	
                  The
                    TWO completed workshop should capable of lifting gantry and with
                    safe
                    working permit.

                

        

        
          	 	
                  3

                	
                  The
                    Landlord should provide the blue print of the building layout
                    and
                    structural drawings to the
                    Tenantry.

                

        

        
          	 	
                  4

                	
                  The
                    third building should not have any partition wall at the ground
                    floor, and
                    the 1/F and 2/F should capable to use for office, life purpose.
                    The rent
                    will be paid after the completion of decoration and has supply
                    of water
                    and power.

                

        

        
          	 	
                  5

                	
                  The
                    1/F of the building is for office purpose, and the Landlord should
                    provide
                    assistant to the Tenantry to make 1 opening on the side wall
                    and install
                    aluminum window for weather proof.

                

        

        
          	 	
                  6

                	
                  The
                    Landlord should build a fence wall to the circumference of the
                    building
                    boundary and provide access and door for main entry, and he should
                    provide
                    a security room and reception
                    lobby.

                

        

        
          	 	
                  7

                	
                  The
                    Landlord should provide green zone to beauty the environment
                    within the
                    building boundary.

                

        

        
          	 	
                  8

                	
                  The
                    Landlord should warranty for the supply of electric power, water
                    for the
                    buildings. He should provide water drainage system and sanitary
                    system in
                    the building and roads.

                

        

        
          	 	
                  9

                	
                  The
                    wall of 1/F at the north side of Building 2 should be blocked,
                    the wall of
                    1/F at the south side of the building 4 (prepare to build) should
                    be
                    blocked.

                

        

        
          	 	
                  10

                	
                  The
                    Landlord should provide a canopy at the entrance of workshop
                    at each
                    building.

                

        

        
          	 	
                  11

                	
                  If
                    the Landlord could not complete and provide the facilities as
                    the
                    supplementary clause 1~10 before 8/July/2005, the payment for
                    rental will
                    be delay until completion of these
                    clauses.

                

        

        

        

        Landlord:  

        Shanghai
          Sandi CNC equipment Ltd. Co,

        

        

        

        Date:

        

        

        Tenant:  

        Zhuhai
          King Glass Engineering Ltd. Co. (Shanghai)

        

        

        

        Date:EX 10.1

    EXECUTION
      COPY 

     

    
      

      

    

    
      ASSET
        PURCHASE AND SALE AGREEMENT

       

      BY
        AND AMONG

       

      CHEMTURA
        CORPORATION,

       

      CHEMTURA
        CANADA CO./CIE,

       

      CHEMTURA
        INDUSTRIA QUIMICA DO BRASIL LIMITADA,

       

      CHEMTURA
        ITALY S.R.L.,

       

      CHEMTURA
        CORPORATION, S.A. DE C.V.

       

      CHEMTURA
        NETHERLANDS B.V.,

       

      MONOCHEM,
        INC.,

       

      UNIROYAL
        CHEMICAL TAIWAN LTD.

       

      AND

      

      LION
        COPOLYMER, LLC

       

      Dated
        as of February 3, 2007

       

      SALE
        OF ETHYLENE PROPYLENE DIENE MONOMER

      RUBBER
        (EPDM) AND RUBBER CHEMICALS BUSINESSES

      
        
        

        
          

          

        

      

      

      

       

    

    

      TABLE
        OF CONTENTS

      
        	 	 	 	 	
                Page

              
	
                ARTICLE
                  1.

              	 	
                DEFINITIONS

              	 	
                1

              
	
                1.1

              	 	
                Definitions

              	 	
                1

              
	
                1.2

              	 	
                Other
                  Definitional Provisions and Interpretation

              	 	
                20

              
	
                ARTICLE
                  2.

              	 	
                PURCHASE
                  AND SALE OF ASSETS; ASSUMPTION OF ASSUMED OBLIGATIONS

              	 	
                20

              
	
                2.1

              	 	
                Purchase
                  and Sale of Assets

              	 	
                20

              
	
                2.2

              	 	
                Assignment
                  of Permits and Contracts

              	 	
                22

              
	
                2.3

              	 	
                Certain
                  Provisions Regarding Assignments

              	 	
                23

              
	
                2.4

              	 	
                Excluded
                  Assets

              	 	
                24

              
	
                2.5

              	 	
                Assumed
                  Obligations

              	 	
                26

              
	
                2.6

              	 	
                Retained
                  Obligations

              	 	
                28

              
	
                2.7

              	 	
                Prorations

              	 	
                29

              
	
                ARTICLE
                  3.

              	 	
                PURCHASE
                  PRICE; ADJUSTMENT; ALLOCATION

              	 	
                30

              
	
                3.1

              	 	
                Payment
                  of Purchase Price

              	 	
                30

              
	
                3.2

              	 	
                Purchase
                  Price Adjustments

              	 	
                31

              
	
                3.3

              	 	
                Withholding

              	 	
                34

              
	
                3.4

              	 	
                Allocation
                  of Consideration for Assets

              	 	
                34

              
	
                ARTICLE
                  4.

              	 	
                REPRESENTATIONS
                  AND WARRANTIES OF SELLERS

              	 	
                35

              
	
                4.1

              	 	
                Due
                  Organization

              	 	
                35

              
	
                4.2

              	 	
                Due
                  Authorization

              	 	
                35

              
	
                4.3

              	 	
                Consents
                  and Approvals; Authority Relative to this Agreement

              	 	
                35

              
	
                4.4

              	 	
                Financial
                  Statements

              	 	
                36

              
	
                4.5

              	 	
                No
                  Adverse Effects or Changes

              	 	
                36

              
	
                4.6

              	 	
                Title
                  to Assets

              	 	
                36

              
	
                4.7

              	 	
                Assets

              	 	
                37

              
	
                4.8

              	 	
                Real
                  Property

              	 	
                37

              
	
                4.9

              	 	
                Equipment;
                  Leased Personal Property

              	 	
                38

              
	
                4.10

              	 	
                Customers
                  and Suppliers

              	 	
                38

              
	
                4.11

              	 	
                Accounts
                  Receivable

              	 	
                39

              
	
                4.12

              	 	
                Proceedings

              	 	
                39

              

      

       

      
        
          
          

        

        
          i

          
            

          

        

        
          
          

        

      

       

      
        TABLE
          OF CONTENTS

        (continued)

      

       

      
        	 	 	 	 	
                Page

              
	
                4.13

              	 	
                Intellectual
                  Property

              	 	
                40

              
	
                4.14

              	 	
                Contracts

              	 	
                42

              
	
                4.15

              	 	
                Permits

              	 	
                44

              
	
                4.16

              	 	
                Inventory

              	 	
                44

              
	
                4.17

              	 	
                Benefit
                  Plans

              	 	
                45

              
	
                4.18

              	 	
                Employment
                  and Labor Matters

              	 	
                46

              
	
                4.19

              	 	
                Taxes

              	 	
                47

              
	
                4.20

              	 	
                No
                  Defaults or Violations

              	 	
                48

              
	
                4.21

              	 	
                Environmental
                  Matters

              	 	
                49

              
	
                4.22

              	 	
                Conduct
                  of the Business

              	 	
                50

              
	
                4.23

              	 	
                Foreign
                  Corrupt Practices

              	 	
                50

              
	
                4.24

              	 	
                EBITDA
                  for the EPDM Business

              	 	
                50

              
	
                4.25

              	 	
                Sale
                  of Products

              	 	
                51

              
	
                4.26

              	 	
                Chinese
                  Joint Venture

              	 	
                51

              
	
                ARTICLE
                  5.

              	 	
                REPRESENTATIONS
                  AND WARRANTIES OF THE PURCHASER

              	 	
                51

              
	
                5.1

              	 	
                Due
                  Incorporation

              	 	
                51

              
	
                5.2

              	 	
                Due
                  Authorization

              	 	
                51

              
	
                5.3

              	 	
                Consents
                  and Approvals; Authority Relative to this Agreement

              	 	
                51

              
	
                5.4

              	 	
                Proceedings

              	 	
                52

              
	
                5.5

              	 	
                Financing

              	 	
                52

              
	
                ARTICLE
                  6.

              	 	
                COVENANTS

              	 	
                52

              
	
                6.1

              	 	
                Access
                  to Information

              	 	
                52

              
	
                6.2

              	 	
                Preservation
                  of Business

              	 	
                53

              
	
                6.3

              	 	
                Consents
                  and Approvals

              	 	
                54

              
	
                6.4

              	 	
                Chemtura
                  Names

              	 	
                56

              
	
                6.5

              	 	
                Brokers

              	 	
                58

              
	
                6.6

              	 	
                Preservation
                  of Books and Records; Access and Assistance

              	 	
                58

              
	
                6.7

              	 	
                Insurance

              	 	
                59

              
	
                6.8

              	 	
                Confidentiality

              	 	
                59

              
	
                6.9

              	 	
                Guarantees;
                  Credit Support

              	 	
                61

              

      

       

      
        
          
          

        

        
          ii

          
            

          

        

        
          
          

        

      

      

        TABLE
          OF CONTENTS

        (continued)

      

       

      
        	 	 	 	 	
                Page

              
	
                6.10

              	 	
                Taxes

              	 	
                62

              
	
                6.11

              	 	
                Certain
                  Restrictions

              	 	
                64

              
	
                6.12

              	 	
                Purchaser’s
                  Option

              	 	
                65

              
	
                6.13

              	 	
                Naugatuck
                  Equipment

              	 	
                65

              
	
                6.14

              	 	
                Chemtura’s
                  Option

              	 	
                66

              
	
                6.15

              	 	
                Decommissioning
                  of Wastewater Tank

              	 	
                66

              
	
                6.16

              	 	
                Financial
                  Assurance

              	 	
                66

              
	
                6.17

              	 	
                Financial
                  Statements

              	 	
                67

              
	
                6.18

              	 	
                Customer
                  Accounts Receivable

              	 	
                67

              
	
                6.19

              	 	
                Customer
                  Returns and Warranty Support Services

              	 	
                68

              
	
                6.20

              	 	
                Certain
                  Matters Regarding Financing

              	 	
                68

              
	
                6.21

              	 	
                Intellectual
                  Property Rights Actions

              	 	
                68

              
	
                6.22

              	 	
                Attorney-Client
                  Privilege

              	 	
                68

              
	
                6.23

              	 	
                Filing
                  of Assignments

              	 	
                68

              
	
                6.24

              	 	
                Key
                  Employees

              	 	
                69

              
	
                6.25

              	 	
                Certain
                  Related Agreements

              	 	
                69

              
	
                6.26

              	 	
                Receivables
                  Securitization Agreements

              	 	
                69

              
	
                6.27

              	 	
                Chinese
                  Joint Venture

              	 	
                69

              
	
                6.28

              	 	
                Foreign
                  Accounts Receivable

              	 	
                69

              
	
                6.29

              	 	
                Adjustments
                  to Pre-Signing Financial Statements

              	 	
                69

              
	
                ARTICLE
                  7.

              	 	
                CONDITIONS
                  PRECEDENT TO OBLIGATIONS OF THE PURCHASER

              	 	
                70

              
	
                7.1

              	 	
                Representations
                  and Warranties True

              	 	
                70

              
	
                7.2

              	 	
                Compliance
                  with Agreements and Covenants

              	 	
                71

              
	
                7.3

              	 	
                Certificate
                  of Compliance

              	 	
                71

              
	
                7.4

              	 	
                HSR
                  Act; Premerger Notification Provisions; Brazil

              	 	
                71

              
	
                7.5

              	 	
                Governmental
                  Required Consents

              	 	
                71

              
	
                7.6

              	 	
                No
                  Injunctions or Other Legal Restraints

              	 	
                71

              
	
                7.7

              	 	
                Related
                  Agreements

              	 	
                72

              
	
                7.8

              	 	
                Contractual
                  Consents

              	 	
                72

              

      

       

      
        
          
          

        

        
          iii

          
            

          

        

        
          
          

        

      

       

        TABLE
          OF CONTENTS

        (continued)

         

      

      
        	 	 	 	 	
                Page

              
	
                7.9

              	 	
                Debt
                  Financing

              	 	
                72

              
	
                7.10

              	 	
                The
                  Designated Agreements

              	 	
                72

              
	
                7.11

              	 	
                Termination
                  of Contracts

              	 	
                72

              
	
                7.12

              	 	
                Business
                  Material Adverse Effect

              	 	
                72

              
	
                7.13

              	 	
                Certificate
                  of Non-Foreign Status

              	 	
                72

              
	
                7.14

              	 	
                Resolution
                  of Matters Related to the UBOB Operations

              	 	
                72

              
	
                7.15

              	 	
                Asbestos
                  Abatement

              	 	
                72

              
	
                7.16

              	 	
                Title
                  Commitments

              	 	
                72

              
	
                7.17

              	 	
                Surveys

              	 	
                73

              
	
                7.18

              	 	
                Estimated
                  Working Capital Amount

              	 	
                73

              
	
                7.19

              	 	
                Effect
                  on EBITDA of the Business

              	 	
                73

              
	
                7.20

              	 	
                Permits

              	 	
                73

              
	
                7.21

              	 	
                Chinese
                  Joint Venture

              	 	
                73

              
	
                7.22

              	 	
                Intellectual
                  Property Rights Actions

              	 	
                73

              
	
                7.23

              	 	
                Replacement
                  Capital Analysis

              	 	
                73

              
	
                ARTICLE
                  8.

              	 	
                CONDITIONS
                  PRECEDENT TO OBLIGATIONS OF THE SELLERS

              	 	
                73

              
	
                8.1

              	 	
                Representations
                  and Warranties True

              	 	
                74

              
	
                8.2

              	 	
                Compliance
                  with Agreements and Covenants

              	 	
                74

              
	
                8.3

              	 	
                Certificate
                  of Compliance

              	 	
                74

              
	
                8.4

              	 	
                HSR
                  Act; Premerger Notification Provisions; Brazil

              	 	
                74

              
	
                8.5

              	 	
                No
                  Injunctions or Other Legal Restraints

              	 	
                74

              
	
                8.6

              	 	
                Related
                  Agreements

              	 	
                74

              
	
                8.7

              	 	
                Consents

              	 	
                74

              
	
                ARTICLE
                  9.

              	 	
                CLOSING

              	 	
                74

              
	
                9.1

              	 	
                Closing

              	 	
                74

              
	
                9.2

              	 	
                Deliveries
                  by the Sellers

              	 	
                75

              
	
                9.3

              	 	
                Deliveries
                  by the Purchaser

              	 	
                76

              
	
                ARTICLE
                  10.

              	 	
                TERMINATION

              	 	
                77

              
	
                10.1

              	 	
                Termination

              	 	
                77

              

      

      
         

        
          
            
            

          

          
            iv

            
              

            

          

          
            
            

          

        

         

        TABLE
          OF CONTENTS

        (continued)
 

      
        	 	 	 	 	
                Page

              
	
                10.2

              	 	
                Effect
                  of Termination

              	 	
                78

              
	
                ARTICLE
                  11.

              	 	
                EMPLOYEES
                  AND EMPLOYEE BENEFITS

              	 	
                78

              
	
                11.1

              	 	
                Offers
                  of Employment

              	 	
                78

              
	
                11.2

              	 	
                Vesting
                  and Service Credit

              	 	
                79

              
	
                11.3

              	 	
                Non-U.S.
                  Employees

              	 	
                79

              
	
                11.4

              	 	
                Severance
                  Costs

              	 	
                79

              
	
                11.5

              	 	
                Retention
                  Payments

              	 	
                80

              
	
                11.6

              	 	
                No
                  Third Party Beneficiaries

              	 	
                80

              
	
                11.7

              	 	
                UK
                  Employees and Other Non-U.S. Employee Matters

              	 	
                81

              
	
                ARTICLE
                  12.

              	 	
                INDEMNIFICATION

              	 	
                82

              
	
                12.1

              	 	
                Survival

              	 	
                82

              
	
                12.2

              	 	
                Indemnification
                  by the Sellers

              	 	
                82

              
	
                12.3

              	 	
                Indemnification
                  by the Purchaser

              	 	
                83

              
	
                12.4

              	 	
                Limitations
                  on Liability

              	 	
                84

              
	
                12.5

              	 	
                Claims

              	 	
                85

              
	
                12.6

              	 	
                Notice
                  of Third Party Claims; Assumption of Defense

              	 	
                85

              
	
                12.7

              	 	
                Settlement
                  or Compromise

              	 	
                86

              
	
                12.8

              	 	
                Mitigation;
                  Net Losses; Subrogation

              	 	
                86

              
	
                12.9

              	 	
                Environmental
                  Indemnification

              	 	
                87

              
	
                12.10

              	 	
                Purchase
                  Price Adjustments

              	 	
                89

              
	
                ARTICLE
                  13.

              	 	
                MISCELLANEOUS

              	 	
                89

              
	
                13.1

              	 	
                Expenses

              	 	
                89

              
	
                13.2

              	 	
                Amendment

              	 	
                89

              
	
                13.3

              	 	
                Notices

              	 	
                89

              
	
                13.4

              	 	
                Payments
                  in Dollars

              	 	
                90

              
	
                13.5

              	 	
                Waivers

              	 	
                90

              
	
                13.6

              	 	
                Binding
                  Effect; Assignment

              	 	
                90

              
	
                13.7

              	 	
                No
                  Third Party Beneficiaries

              	 	
                92

              
	
                13.8

              	 	
                Publicity

              	 	
                92

              
	
                13.9

              	 	
                Further
                  Assurances

              	 	
                92

              

      

       

      
        
          
          

        

        
          v

          
            

          

        

        
          
          

        

      

      
         

        TABLE
          OF CONTENTS

        (continued)

         

      

      
        	 	 	 	 	
                Page

              
	
                13.10

              	 	
                Severability

              	 	
                92

              
	
                13.11

              	 	
                Entire
                  Understanding

              	 	
                92

              
	
                13.12

              	 	
                Language

              	 	
                93

              
	
                13.13

              	 	
                Applicable
                  Law

              	 	
                93

              
	
                13.14

              	 	
                Remittances

              	 	
                93

              
	
                13.15

              	 	
                Bulk
                  Sales

              	 	
                93

              
	
                13.16

              	 	
                Jurisdiction
                  of Disputes; Waiver of Jury Trial

              	 	
                93

              
	
                13.17

              	 	
                Schedules;
                  Communication

              	 	
                94

              
	
                13.18

              	 	
                Disclaimer
                  of Warranties

              	 	
                94

              
	
                13.19

              	 	
                Counterparts

              	 	
                95

              

      

    

    

      
        
          
          

        

        
          vi

          
            

          

        

         

      

    

    
       

      
        	
                EXHIBITS

              	 
	 	 
	
                Exhibit
                  A

              	
                2007
                  Budget

              
	
                Exhibit
                  B

              	
                Act
                  of Cash Sale

              
	
                Exhibit
                  C

              	
                Assignment
                  and Assumption Agreement

              
	
                Exhibit
                  D

              	
                Bill
                  of Sale

              
	
                Exhibit
                  E

              	
                Chinese
                  Trademark License Agreement

              
	
                Exhibit
                  F

              	
                Patent
                  Assignment

              
	
                Exhibit
                  G

              	
                Purchaser
                  Master Supply Agreement

              
	
                Exhibit
                  H

              	
                Purchaser’s
                  Knowledge

              
	
                Exhibit
                  I

              	
                Sellers’
                  Knowledge

              
	
                Exhibit
                  J

              	
                Trademark
                  Assignment

              
	
                Exhibit
                  K

              	
                Accounts
                  Payable Note

              
	
                Exhibit
                  L

              	
                Accounts
                  Receivable Note

              
	
                Exhibit
                  M

              	
                Survey
                  Requirements

              
	
                Exhibit
                  N

              	
                Form
                  of Legal Opinion

              
	
                Exhibit
                  China

              	
                Chinese
                  Employee Arrangements

              

      

      

      
        	
                SCHEDULES

              	 
	 	 
	
                Schedule
                  1.1(a)

              	
                Business
                  Employees

              
	
                Schedule
                  1.1(b)

              	
                Business
                  Guarantees

              
	
                Schedule
                  1.1(c)

              	
                Calculation
                  Principles

              
	
                Schedule
                  1.1(d)

              	
                Chemtura
                  Master Supply Agreement Products

              
	
                Schedule
                  1.1(e)

              	
                Designated
                  Agreements

              
	
                Schedule
                  1.1(f)

              	
                Geismar
                  Facility

              
	
                Schedule
                  1.1(g)

              	
                Geismar
                  Retained Land

              
	
                Schedule
                  1.1(h)

              	
                License
                  Agreements

              
	
                Schedule
                  1.1(i)

              	
                Monochem
                  Facility 

              
	
                Schedule
                  1.1(j)

              	
                Naugalube
                  Equipment

              
	
                Schedule
                  1.1(k)

              	
                Net
                  Working Capital Threshold Amount

              
	
                Schedule
                  1.1(l)

              	
                Non-U.S.
                  Employees

              
	
                Schedule
                  1.1(m)

              	
                Permitted
                  Liens

              
	
                Schedule
                  1.1(n)

              	
                Purchaser
                  Master Supply Agreement Products

              
	
                Schedule
                  1.1(o)

              	
                Rubber
                  Chemicals Business

              
	
                Schedule
                  1.1(p)

              	
                Shared
                  Contracts

              
	
                Schedule
                  2.1(d)

              	
                Naugatuck
                  Equipment

              
	
                Schedule
                  2.1(f)(i)

              	
                Transferred
                  Trademarks

              
	
                Schedule
                  2.1(f)(ii)

              	
                Transferred
                  Technology

              
	
                Schedule
                  2.1(f)(iii)

              	
                Transferred
                  Patents

              
	
                Schedule
                  2.1(g)

              	
                Transferred
                  IT Assets

              
	
                Schedule
                  2.2

              	
                Assigned
                  Permits

              
	
                Schedule
                  2.2(a)

              	
                Transferred
                  IT Contracts

              
	
                Schedule
                  2.2(b)

              	
                Other
                  Contracts

              
	Schedule
                2.4(k)	Intercompany
                Agreements

      

       

      
        
          
          

        

        
          vii

          
            

          

        

         

      

      

      
        	
                Schedule
                  2.4(p)

              	
                Retained
                  IT Assets

              
	
                Schedule
                  3.2(b)

              	
                Additional
                  Adjustments

              
	
                Schedule
                  4.3(a)

              	
                Governmental
                  Consents

              
	
                Schedule
                  4.3(b)

              	
                Other
                  Consents

              
	
                Schedule
                  4.4

              	
                Financial
                  Statements

              
	
                Schedule
                  4.5

              	
                No
                  Adverse Effects or Changes

              
	
                Schedule
                  4.6

              	
                Title
                  to Assets

              
	
                Schedule
                  4.7(a)

              	
                Sufficiency
                  of Assets

              
	
                Schedule
                  4.7(b)

              	
                Condition
                  of Assets

              
	
                Schedule
                  4.8(a)

              	
                Real
                  Property

              
	
                Schedule
                  4.8(c)

              	
                Leased
                  Real Property

              
	
                Schedule
                  4.9(a)

              	
                Equipment
                  - EPDM Business

              
	
                Schedule
                  4.9(b)

              	
                Equipment
                  - Rubber Chemicals Business

              
	
                Schedule
                  4.9(c)

              	
                PPD
                  Equipment

              
	
                Schedule
                  4.9(d)

              	
                Leased
                  Personal Property

              
	
                Schedule
                  4.9(e)

              	
                Production
                  Changes

              
	
                Schedule
                  4.10(a)

              	
                Relations
                  with Customers and Suppliers

              
	
                Schedule
                  4.10(b)

              	
                Material
                  Customers and Material Suppliers

              
	
                Schedule
                  4.11(a)

              	
                Accounts
                  Receivable 

              
	
                Schedule
                  4.11(b)

              	
                Security
                  Deposits

              
	
                Schedule
                  4.12

              	
                Proceedings

              
	
                Schedule
                  4.13(a)

              	
                Application
                  and Registration Numbers

              
	
                Schedule
                  4.13(b)(i)

              	
                Licenses
                  In

              
	
                Schedule
                  4.13(b)(ii)

              	
                Licenses
                  Out

              
	
                Schedule
                  4.13(b)(iii)

              	
                IP
                  Royalty Payments

              
	
                Schedule
                  4.13(c)

              	
                Infringement
                  and Liens

              
	
                Schedule
                  4.13(h)

              	
                Intellectual
                  Property Agreements Restricting Disposition of
                  Inventory

              
	
                Schedule
                  4.14(a)

              	
                Material
                  Contracts

              
	
                Schedule
                  4.14(b)

              	
                Force
                  and Effect of Material Contracts

              
	
                Schedule
                  4.15

              	
                Permits

              
	
                Schedule
                  4.16(a)

              	
                Inventory;
                  Locations

              
	
                Schedule
                  4.16(b)

              	
                Inventory
                  Consigned to Third Parties

              
	
                Schedule
                  4.16(c)

              	
                Inventory
                  Held on Consignment

              
	
                Schedule
                  4.16(d)

              	
                Inventory;
                  Physical Possession

              
	
                Schedule
                  4.17(a)

              	
                Benefit
                  Plans

              
	
                Schedule
                  4.19

              	
                Taxes

              
	
                Schedule
                  4.20

              	
                No
                  Defaults or Violations

              
	
                Schedule
                  4.21

              	
                Environmental
                  Matters

              
	
                Schedule
                  4.21(b)

              	
                Environmental
                  Permits

              
	
                Schedule
                  4.21(i)

              	
                Releases
                  of Hazardous Substances

              
	
                Schedule
                  4.22

              	
                Conduct
                  of the Business

              
	
                Schedule
                  4.24

              	
                Budgeted
                  EBITDA for the EPDM Business

              
	
                Schedule
                  5.3

              	
                Purchaser
                  Consents

              
	
                Schedule
                  6.2

              	
                Preservation
                  of Business

              
	
                Schedule
                  6.12

              	
                Purchaser’s
                  Option

              

      

       

      
        
          
          

        

        
          viii

          
            

          

        

         

      

      

      
        	
                Schedule
                  6.14

              	
                Chemtura’s
                  Option

              
	
                Schedule
                  6.15

              	
                Decommissioning
                  of Wastewater Tank

              
	
                Schedule
                  6.17(a)

              	
                Report
                  of Independent Auditors

              
	
                Schedule
                  6.21

              	
                Intellectual
                  Property Rights Actions

              
	
                Schedule
                  6.24

              	
                Key
                  Employees

              
	
                Schedule
                  7.11

              	
                Contracts
                  to be Terminated

              
	
                Schedule
                  7.14

              	
                Resolution
                  of Title V Violation

              
	
                Schedule
                  11.1(a)

              	
                Excluded
                  Business Employees

              
	
                Schedule
                  11.1(b)

              	
                Connecticut
                  Employees

              
	
                Schedule
                  11.4

              	
                Applicable
                  Products

              
	
                Schedule
                  11.5

              	
                Retention
                  Payments

              
	
                Schedule
                  11.7

              	
                Foreign
                  Employees and Applicable Foreign Benefit Plans

              
	
                Schedule
                  12.9(a)

              	
                Conduct
                  and Control

              

      

       

      
        
          
          

        

        
          ix

          
            

          

        

         

      

      

      ASSET
        PURCHASE AND SALE AGREEMENT

       

      THIS
        ASSET PURCHASE AND SALE AGREEMENT is made as of the 3rd day of February,
        2007 by
        and among Lion Copolymer, LLC, a limited liability company organized under
        the
        laws of the State of Delaware (the “Purchaser”),
        CHEMTURA CORPORATION, a corporation organized under the laws of the State
        of
        Delaware (“Chemtura”),
        CHEMTURA
        CANADA CO./CIE,
        a
        corporation organized under the laws of Nova Scotia, CHEMTURA
        INDUSTRIA QUIMICA DO BRASIL LIMITADA,
        a
        limited liability company organized under the laws of Brazil, CHEMTURA
        ITALY S.R.L.,
        a
        limited liability company organized under the laws of Italy, CHEMTURA
        CORPORATION, S.A. DE C.V., a limited liability corporation organized under
        the
        laws of Mexico, CHEMTURA
        NETHERLANDS B.V.,
        a
        private company with limited liability organized under the laws of the
        Netherlands, MONOCHEM,
        INC.,
        a
        corporation organized under the laws of the State of Louisiana (“Monochem”),
        and
        UNIROYAL CHEMICAL TAIWAN LTD., a limited liability company organized under
        the
        laws of Taiwan.

       

      WITNESSETH:

       

      WHEREAS,
        the Purchaser desires to purchase from the Sellers (as defined below), and
        the
        Sellers desire to sell to the Purchaser, certain assets used in the conduct
        of
        the Business (as defined below) by the Sellers, and the Purchaser desires
        to
        assume from the Sellers, and the Sellers desire to assign to the Purchaser,
        certain obligations and liabilities relating to the Business, all upon the
        terms
        and subject to the conditions contained herein.

       

      NOW,
        THEREFORE, in consideration of the foregoing and the mutual representations,
        warranties, covenants and agreements herein contained, the Purchaser and
        the
        Sellers hereby agree as follows:

       

      ARTICLE
        1.

      DEFINITIONS

       

      1.1 Definitions.
        The
        following terms shall have the following meanings for the purposes of this
        Agreement:

       

      “2006
        EPDM EBITDA”
shall
        mean the EBITDA for the EPDM Business for the year ended December 31, 2006
        determined in accordance with the Calculation Principles and as set forth
        on the
        Reconciliation.

       

      “2006
        Pre-Signing Financial Statements”
shall
        have the meaning set forth in Section
        4.4,
        subject
        to revision pursuant to Section
        6.29.
        

       

      “2006
        Rubber Chemicals EBITDA”
shall
        mean the EBITDA for the Rubber Chemicals Business for the year ended December
        31, 2006 determined in accordance with the Calculation Principles and as
        set
        forth on the Reconciliation.

       

      “2007
        Budget”
shall
        mean the budgets for each of the EPDM Business and the Rubber Chemicals Business
        for the year ending December 31, 2007 prepared by Chemtura and attached hereto
        as Exhibit A.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      “Accounting
        Firm”
shall
        have the meaning set forth in Section 3.2(c)(iv).

       

      “Accounts
        Payable”
shall
        have the meaning set forth in Section 2.6(b).

       

      “Accounts
        Payable Note”
shall
        have the meaning set forth in Section 3.1(a)(ii).

       

      “Accounts
        Receivable”
shall
        mean (a) all trade accounts receivable and other rights to payment from
        customers of any Seller to the extent arising out of or related to the Business
        or the Assets and the full benefit of all security for such accounts or rights
        to payment, including all trade accounts receivable representing amounts
        receivable in respect of goods shipped or products sold or services rendered
        to
        customers of any Seller to the extent arising out of or related to the Business
        or the Assets, (b) all other accounts or notes receivable of any Seller to
        the
        extent arising out of or related to the Business or the Assets and the full
        benefit of all security for such accounts or notes and (c) any claim, remedy
        or
        other right related to any of the foregoing, but excluding any such items
        in (a)
        through (c) above to the extent arising out of or relating to the PPD Products
        manufactured at the Non-U.S. Facilities (except those sold to Manufacture
        Française des Pneumatiques Michelin or Continental AG or
        their
        respective Affiliates, which for the avoidance of doubt are Accounts Receivable
        for all purposes of this Agreement and are not Retained PPD
        Receivables) (the
        “Retained
        PPD Receivables”).

       

      “Accounts
        Receivable Note”
shall
        have the meaning set forth in Section
        6.28.

       

      “Acquired
        Rights Directive”
shall
        have the meaning set forth in Section
        11.7(a).

       

      “Act
        of
        Cash Sale”
shall
        mean an act of cash sale or other transfer/deed of land to be delivered at
        the
        Closing by the applicable Seller conveying to the Purchaser the Transferred
        Owned Real Property owned by such Seller, substantially in the form set forth
        in
Exhibit
        B.
        

       

      “Affiliate”
shall
        mean, with respect to any specified Person, any other Person which, directly
        or
        indirectly, controls, is under common control with or is controlled by such
        specified Person. The term “control”
as
        used
        in the preceding sentence shall mean, (a) with respect to a corporation or
        other business entity, the right to exercise, directly or indirectly, more
        than
        (i) 50% of the voting rights attributable to the shares or other ownership
        interests of such corporation or other business entity or (ii) for purposes
        of
Sections
        4.14(a)(v)
        and
6.2(d),
        20% of
        the voting rights attributable to the shares or other ownership interests
        of
        such corporation or other business entity, or (b) with respect to any
        Person other than a corporation, the possession, directly or indirectly,
        of the
        power to direct or cause the direction of the management or policies of such
        Person.

       

      “Agreement”
shall
        mean this Asset Purchase and Sale Agreement, including all Exhibits and
        Schedules hereto.

       

      “Antitrust
        Division”
shall
        mean the Antitrust Division of the United States Department of
        Justice.

       

      “Area
        of Concern”
or
        “AOC”
shall
        mean those areas described as “Areas of Concern” in the Phase II and shall
        include any additional or new Areas of Concern that may arise out of or be
        designated as a part of the Phase II.

       

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

       

      “Assets”
shall
        mean the Purchased Assets, the Assigned Permits
        and
        the Purchased Contracts.

       

      “Assigned
        Permits”
shall
        have the meaning set forth in Section 2.2.

       

      “Assignment
        and Assumption Agreement”
shall
        mean an assignment and assumption agreement substantially in the form set
        forth
        in Exhibit
        C.

       

      “Assumed
        Obligations”
shall
        have the meaning set forth in Section 2.5.

       

      “Audited
        Special Purpose Financial Statements”
shall
        have the meaning set forth in Section 6.17(a).

       

      “Benefit
        Plan”
shall
        have the meaning set forth in Section 4.17(a)(i).

       

      “Benefit
        Program”
shall
        have the meaning set forth in Section 4.17(a)(ii).

       

      “Bill
        of Sale”
shall
        mean a bill of sale substantially in the form set forth in Exhibit
        D.

       

      “Bulk
        Sales Laws”
shall
        mean the bulk-transfer provisions of the Uniform Commercial Code (or any
        similar
        Law).

       

      “Business”
shall
        mean, collectively, the EPDM Business, the Monochem Business and the Rubber
        Chemicals Business, excluding the Excluded Assets and the Retained
        Obligations.

       

      “Business
        Day”
shall
        mean any day of the year other than (a) any Saturday or Sunday or (b) any
        other
        day on which banks located in New York, New York are required or authorized
        to
        be closed for business.

       

      “Business
        Employees”
shall
        mean all employees of any of the Sellers or their Affiliates who, immediately
        prior to the Closing Date, (a) are non-manufacturing employees and work
        exclusively in connection with the Business and are listed on Schedule
        1.1(a),
        (b) are
        employed at the Geismar Facility or (c) are employed by the Chinese Joint
        Venture, including, in each case, any such employee on a leave of absence
        or who
        is not otherwise actively at work. For the avoidance of doubt, Chemtura’s Vice
        President and General Manager, Process Chemicals and Polymers, shall not
        be
        deemed to be a Business Employee.

       

      “Business
        Guarantee”
shall
        mean any guarantee, indemnity, performance bond, letter of credit, deposit
        or
        other security or contingent obligation in the nature of a financial obligation,
        including letters of comfort or support, entered into or granted by any Seller
        or any of their Affiliates in relation to or arising out of any Liabilities
        of
        any Seller or any of their Affiliates in connection with the Business that
        is
        set forth on Schedule 1.1(b).

       

      “Business
        Material Adverse Effect”
shall
        mean any (i) change in or effect on the condition (financial or otherwise),
        business, results of operations or assets and liabilities of the Business,
        taken
        as a whole, that is material and adverse to the Business or (ii) change or
        effect that prevents the consummation by any of the Sellers of any of the
        transactions contemplated by this Agreement; provided,
        however,
        that
        none of the following shall be deemed to constitute and none of the following
        shall be taken into account in determining whether there has been a Business
        Material Adverse Effect: any adverse change or effect arising from or relating
        to (a) general business or economic conditions, (b) national or
        international political or social conditions, including the engagement by
        the
        United States in war or major hostilities or the occurrence of any terrorist
        attack upon the United States, (c) the taking of any action contemplated by
        this Agreement or any Related Agreement or consented to by the Purchaser
        or
        (d) the disclosure of this Agreement or any Related Agreement or the
        transactions contemplated hereby or thereby as permitted by this Agreement
        and
        the Confidentiality Agreement, except in the case of clause (a) or (b) to
        the
        extent the Business suffers a disproportionately adverse impact from such
        adverse change or effect as compared to other businesses in the same
        industry.

       

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

       

      “Business
        Portion”
shall
        have the meaning set forth in Section 2.3(c).

       

      “Calculation
        Principles”
shall
        mean the accounting principles set forth on Schedule 1.1(c),
        as
        applied on a consistent basis by the Sellers, subject to revision pursuant
        to
Section
        6.29.

       

      “Chemtura”
shall
        have the meaning set forth in the Preamble.

       

      “Chemtura
        Master Supply Agreement”
shall
        mean a master supply agreement between the Purchaser and Chemtura with respect
        to the supply to the Purchaser by Chemtura of the products set forth on
Schedule 1.1(d)
        in a
        form to be agreed to between Chemtura and the Purchaser in accordance with
        Section
        6.25.

       

      “Chemtura
        Names”
shall
        mean the business names, brand names, trade names, trademarks, service marks
        and
        domain names “Chemtura,” “Crompton,” “Great Lakes” and “Uniroyal,” any business
        name, brand name, trade name, trademark, service mark or domain name that
        includes “Chemtura,” “Crompton,” “Great Lakes” or “Uniroyal,” any portion
        thereof, any and all other derivatives thereof and any and all logos
        consistently used by Sellers in combination therewith prior to the
        Closing.

       

      “Chinese
        Consents”
shall
        mean the Consents required to be obtained from the relevant Governmental
        Authorities in connection with a transfer of an equity interest in the Chinese
        Joint Venture.

       

      “Chinese
        Joint Venture”
shall
        mean Chemtura-CNCCC Danyang Chemical Company, Limited (CCDCCL), a
        Chinese-foreign equity joint venture registered in the People’s Republic of
        China formed pursuant to that certain Equity Joint Venture Contract, dated
        August 19, 2000, as amended from time to time.

       

      “Chinese
        Joint Venture Assets”
shall
        have the meaning set forth in Section 4.6(b).

       

      “Chinese
        Joint Venture Intellectual Property”
shall
        mean all Intellectual Property owned by the Chinese Joint Venture.

       

      “Chinese
        Trademark License Agreement”
shall
        mean a trademark license agreement between Chemtura and the Purchaser,
        substantially in the form set forth in Exhibit
        E.

       

      
        
          
          

        

        
          4

          
            

          

        

        
          
          

        

      

       

      “Claim
        Notice”
shall
        have the meaning set forth in Section 12.5.

       

      “Closing”
shall
        mean the consummation of the transactions contemplated herein as contemplated
        by
Article
        9.

       

      “Closing
        Date”
shall
        mean the date on which the Closing occurs.

       

      “Closing
        Proration Amount”
shall
        have the meaning set forth in Section 2.7.

       

      “Closing
        Statement”
shall
        have the meaning set forth in Section 3.2(c)(ii).

       

      “Closing
        Working Capital Amount”
shall
        mean the Working Capital as of the Closing Date set forth on the final Closing
        Statement.

       

      “Code”
shall
        mean the United States Internal Revenue Code of 1986, as amended.

       

      “Competing
        Business”
shall
        have the meaning set forth in Section 6.11(a)(i).

       

      “Confidential
        Information”
shall
        have the meaning set forth in Section 6.8(c).

       

      “Confidentiality
        Agreement”
shall
        mean the confidentiality agreement, dated August 2, 2006, between Chemtura
        and
        Lion Chemical Capital, LLC.

       

      “Consent”
shall
        mean a consent, authorization or approval of a Person, or a filing or
        registration with a Person.

       

      “Contract”
shall
        mean a contract, lease, license, sales order, purchase order, indenture,
        mortgage, note, bond, warrant, instrument or other agreement, arrangement,
        understanding or commitment that is binding on a Person or its
        property.

       

      “Current
        Liabilities”
shall
        mean all current liabilities of the Sellers reflected in the most recent
        Pre-Signing Financial Statements and current liabilities of the type described
        therein arising in the ordinary course and in accordance with this Agreement
        from September 30, 2006 through the Closing, in each case to the extent arising
        out of or with respect to the Assets or the Business and determined in
        accordance with the Calculation Principles, but excluding any current
        liabilities of the Sellers that (i) are part of the Retained Obligations,
        (ii) relate to any of the proceedings listed on Schedule
        4.12,
        (iii) arise out of or with respect to the Excluded Assets or (iv) are
        otherwise contemplated to be retained by the Sellers hereunder.

       

      “Debt
        Financing”
shall
        have the meaning set forth in Section 5.5(a).

       

      “Designated
        Agreements”
shall
        mean those agreements specified in Schedule
        1.1(e).
        

       

      “Disclosing
        Party”
shall
        have the meaning set forth in Section 6.8(d).

       

      “Dollars”
or
        numbers preceded by the symbol “$” shall mean amounts in United States
        dollars.

       

      
        
          
          

        

        
          5

          
            

          

        

        
          
          

        

      

       

      “EBITDA”
means
        earnings before taxes, interest income and expense, depreciation and
        amortization expense, determined in accordance with the Calculation Principles,
        applied in a manner consistent with the preparation of the Pre-Signing Financial
        Statements.

       

      “Employee
        Exhibit”
shall
        mean Exhibit
        China
        and any
        other applicable employee Exhibit pursuant to Section
        11.3.

       

      “Encumbrance”
shall
        mean, with respect to the Transferred Owned Real Property, a Lien, lease,
        license, covenant, option, restriction, easement, servitude, right of way
        or
        other encumbrance or title defect.

       

      “Enforceability
        Limitations”
shall
        mean limitations on enforcement and other remedies imposed by or arising
        under
        or in connection with applicable bankruptcy, insolvency, fraudulent transfer,
        reorganization, moratorium and other similar Laws affecting creditors’ rights
        generally from time to time in effect or general principles of
        equity.

       

      “Environmental
        Claim”
shall
        mean any notice or Proceeding commenced by or threatened in writing by a
        Governmental Authority or Person against any Purchaser Indemnified Party
        or
        Seller Indemnified Party, as the case may be, that claims the existence of
        an
        Environmental Violation or asserts or alleges any Environmental
        Liabilities.

       

      “Environmental
        Law”
shall
        mean all Laws governing or relating to pollution or protection of human health
        and safety (including worker health and safety) or the environment (including
        ambient air, surface water, ground water, land, surface or subsurface
        strata,
        and
        natural resources), including: (i) those providing liability in connection
        with
        or imposing cleanup, investigatory or remediation obligations relative to
        any
        Release or threatened Release of Hazardous Substances; and (ii) those otherwise
        relating to any environmental aspect of the manufacture, processing,
        distribution, use, treatment, storage, disposal, emission, discharge, transport
        or handling of Hazardous Substances (including, without limitation, the federal
        Occupational Safety and Health Act, and any supernational, regional, state,
        local or provincial counterparts or analogues thereto).

       

      “Environmental
        Liability”
shall
        mean any and all Losses, Liabilities, costs (including investigative,
        monitoring, containment, disposal and remediation costs and court costs and
        other costs of administrative or judicial proceedings), fines and penalties,
        judgments, awards or damages (including personal injury and property damages
        based on or arising out of exposure to Hazardous Substances), natural resource
        damages and assessments, third party claims, injunctive relief (including
        the
        costs of equipment and controls required to restore the operations to compliance
        with Environmental Law as in effect on the Closing) including fees (including
        reasonable attorney, expert, engineering and consultant fees) arising under
        or
        with respect to (a) any Environmental Laws or (b) any Environmental
        Violations.

       

      “Environmental
        Permit”
shall
        mean all Permits under any Environmental Laws for the lawful operation of
        the
        Business as it was conducted immediately prior to the Closing Date.

       

      “Environmental
        Violations”
shall
        mean any and all acts, omissions, conditions, Releases, or incidents related
        to
        the operations of the Sellers (before the Closing) or the Purchaser or
        subsequent owners or operators (after the Closing) at the Geismar Facility
        or
        the Monochem Facility or the operations of the Chinese Joint Venture that
        violate any Environmental Law.

       

      
        
          
          

        

        
          6

          
            

          

        

        
          
          

        

      

       

      “EPDM
        Business”
shall
        mean the Sellers’ business of producing, marketing and selling ethylene
        propylene diene monomer rubber and ethylene propylene copolymer and terpolymer
        rubber.

       

      “Equity
        Financing”
shall
        have the meaning set forth in Section
        5.5(b).

       

      “ERISA”
shall
        mean the United States Employee Retirement Income Security Act of 1974, as
        amended.

       

      “ERISA
        Affiliate”
shall
        mean, with respect to any Person, any corporation, trade or business which,
        together with such Person, is a member of a controlled group of corporations
        or
        a group of trades or businesses under common control within the meaning of
        section 414 of the Code.

       

      “ERISA
        Group”
shall
        have the meaning set forth in Section 4.17(d).

       

      “Estimated
        Closing Statement”
shall
        have the meaning set forth in Section 3.2(c)(i).

       

      “Estimated
        Working Capital Amount”
shall
        have the meaning set
        forth
        in Section 3.2(c)(i).

       

      “Evaluation
        Material”
shall
        have the meaning set forth in Section 13.18.

       

      “Excluded
        Assets”
shall
        have the meaning set forth in Section 2.4.

       

      “Factored
        Accounts Receivable”
shall
        mean the Foreign Accounts Receivable that, as of 12:00:01 a.m. (eastern time)
        on
        the Closing Date, shall have been converted to cash following the factoring
        of
        such receivables by the applicable Sellers pursuant to the General Conditions
        for Factoring Operations, dated June 25, 2003, between Crompton Chemical
        S.R.L.
        and Mediofactoring SpA; General Conditions for Factoring Operations, dated
        June
        25, 2003, between Crompton Europe B.V. and Mediofactoring SpA; General
        Conditions for Factoring Operations, dated June 25, 2003, between Crompton
        VA
        GmbH and Mediofactoring SpA and General Conditions for Factoring Operations,
        dated June 25, 2003, between Crompton GmbH and Mediofactoring SpA.

       

      “Financeability
        Letter”
shall
        have the meaning set forth in Section
        5.5(a).

       

      “FIRPTA”
shall
        mean the Foreign Investment Real Property Tax Act, as amended.

       

      “Foreign
        Accounts Receivable”
shall
        mean all Accounts Receivable of Chemtura Italy S.R.L., Chemtura Corporation,
        S.A. de C.V., Chemtura Industria Quimica do Brasil Limitada, Uniroyal Chemical
        Europe B.V. and Uniroyal Chemical Taiwan Ltd.

       

      
        
          
          

        

        
          7

          
            

          

        

        
          
          

        

      

       

      “Foreign
        Benefit Plans”
shall
        mean any employee benefit plan, contract, program, policy or arrangement
        (including any type of plan or arrangement described in Section
        4.17(a))
        for the
        benefit
        of
        any Non-U.S. Employee.

       

      “Foreign
        Implementation Agreements”
means
        the various agreements to be executed by the
        Purchaser
        (or its
        designated Affiliates), on the one hand, and the applicable Sellers, on the
        other hand, for the purpose of implementing the transfer and conveyance on
        the
        Closing Date of certain Purchased Assets and Assumed Obligations in Mexico
        and
        Brazil to the Purchaser (or its designated Affiliates) by the applicable
        Sellers, if the parties determine that such agreements are necessary in order
        to
        comply with applicable Law. 

       

      “FTC”
shall
        mean the Federal Trade Commission.

       

      “GAAP”
shall
        mean accounting principles generally accepted in the United States.

       

      “Geismar
        Facility”
shall
        mean the Real Property owned by Chemtura and located at 36191 Highway 30,
        Geismar, Louisiana 70734 and as more particularly described on Schedule 1.1(f),
        excluding the Geismar Retained Land.

       

      “Geismar
        Landfill”
shall
        mean the closed landfill at the Geismar Facility, more particularly described
        as
        Cell A and Cell B and covered by the RCRA Permit.

       

      “Geismar
        Response Action Costs”
shall
        mean any and all costs and expenses incurred in connection with the Geismar
        Response Actions, including: costs and expenses of environmental consultants;
        costs and expenses of treating and disposing of Hazardous Substances; costs
        and
        expenses of conducting sampling and monitoring; and reimbursements of costs
        and
        expenses incurred by any Governmental Authority relating to any of the foregoing
        excluding (a) any lost profits arising from a temporary shutdown of the Geismar
        Facility in order to undertake any response actions and (b) any internal
        personnel costs of the Purchaser for overseeing the Geismar Response Action
        (other than, for the avoidance of doubt, costs that the Purchaser incurs
        subject
        to paragraph 2.1 of Schedule
        12.9(a)).
        As
        used herein, the term “temporary” shall mean a shut down or shut downs of no
        more than 48 hours total over a running 365 day annual period, but the term
        “shut down” shall not include any periods of time when the Geismar Facility is
        shut down for reasons unrelated to the Geismar Response Actions.

       

      “Geismar
        Response Actions”
shall
        mean those actions conducted under the supervision of any applicable
        Governmental Authority on or after the Closing Date, to implement RCRA
        corrective action obligations at the Geismar Facility arising out of actions,
        events or circumstances that occurred before the Closing Date, including
        any
        investigation and/or remediation obligations contained in the Geismar Facility’s
        Modified Hazardous Waste Post-Closure Permit, dated March 23, 1998, Permit
        No. LAD008194060-PC-1 (the “RCRA
        Permit”),
        and
        any RCRA Permit renewal.

       

      “Geismar
        Retained Land”
shall
        mean the parcel of Real Property located in close proximity to the Geismar
        Facility and as more particularly shown on Schedule 1.1(g).

       

      “Governmental
        Authority”
shall
        mean any federal, state, provincial, local or foreign government or subdivision
        thereof, or any entity, body or authority exercising executive, legislative,
        judicial, regulatory or administrative functions of or pertaining to any
        federal, state, provincial, local or foreign government.

       

      
        
          
          

        

        
          8

          
            

          

        

        
          
          

        

      

       

      “Governmental
        Required Consent”
shall
        mean, with respect to a Person, (i) the Chinese Consents related to the
        transfer of the 100% equity interest in the Chinese Joint Venture from Chemtura
        to the Purchaser and (ii) the approvals and consents required for the
        transfer of any Environmental Permit.

       

      “Ground
        Lease”
shall
        mean a ground lease between Chemtura and the Purchaser providing for the
        lease
        by Chemtura to the Purchaser of Building 112 located at the Naugatuck Site
        in a
        form to be agreed to between Chemtura and the Purchaser in accordance with
        Section
        6.25.

       

      “Group
        Contract”
shall
        mean any Contract under which (a) the Business and (b) at least one other
        business unit of any Seller or any of their respective Affiliates purchase
        or
        sell goods or services on a joint basis or otherwise have rights or
        obligations.

       

      “Hazardous
        Substance”
shall
        mean any chemical, pollutant, contaminant, waste, toxic or hazardous substance
        or material, crude oil, petroleum and petroleum products or by-products,
        polychlorinated biphenyls, asbestos or asbestos-containing materials, lead
        or
        lead-based paints or materials, free crystalline silicates or silica, natural
        gas, natural gas liquids, liquefied natural gas, or synthetic gas usable
        for
        fuel (or mixtures of natural gas and such synthetic gas), or radioactive
        material and any and all other terms of similar import, substances, or materials
        including wastes that are identified, listed, regulated or as to which liability
        may be imposed at any time under Environmental Laws whether or not such
        substance or material is defined as hazardous under the Environmental
        Laws.

       

      “HSR
        Act”
shall
        mean the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as
        amended.

       

      “Indemnified
        Person”
shall
        mean the Person or Persons entitled to, or claiming a right to, indemnification
        under Article
        12.

       

      “Indemnifying
        Person”
shall
        mean the Person or Persons claimed by the Indemnified Person to be obligated
        to
        provide indemnification under Article
        12.

       

      “Information
        and Records”
shall
        have the meaning set forth in Section 2.1(e).

       

      “Initial
        Purchase Price”
shall
        have the meaning set forth in Section 3.1(a)(i).

       

      “Intellectual
        Property”
shall
        mean all of the following rights, title, or interest in or arising under
        the
        laws of the United States, any state, any other country, or international
        treaty
        regime, whether or not filed, perfected, registered, or recorded, including
        all
        renewals thereof: (i) certificates of invention and other indicia of
        invention ownership, patents, patent applications, and patent rights, including
        any such rights granted upon any reissue, reexamination, division, extension,
        provisional, continuation, or continuation-in-part applications, and equivalent
        or similar rights anywhere in the world in inventions and discoveries; (ii)
        rights associated with works of authorship and literary property rights,
        including copyrights, copyright applications and copyright registrations,
        and
        moral rights; (iii) rights relating to know-how or trade secrets, including
        ideas, concepts, methods, techniques, inventions (whether patentable or
        unpatentable), and other works, whether or not developed or reduced to practice,
        rights in industrial property, customer, vendor, and prospect lists, and
        all
        associated information or databases, and other confidential or proprietary
        information; (iv) trademarks, service marks, logos, images, trade dress,
        domain
        names, trade names, and service names, whether or not registered, and the
        goodwill associated therewith; and (v) any rights analogous to those set
        forth
        in the preceding clauses and any other proprietary rights relating to intangible
        property anywhere in the world, including all intellectual property rights
        in
        and to customer lists, databases, data collections, engineering data,
        manufacturing and production processes and procedures, design documents and
        analyses, diagrams, documentation, drawings, formulae, marketing plans,
        methodologies, processes, program listings, protocols, sales data, schematics,
        specifications, computer data, computer programs and software (in any form
        including source code and executable or object code), web sites, and other
        forms
        of technology (whether or not embodied in any tangible form and including
        all
        tangible embodiments of the foregoing such as blueprints, compilations of
        information, instruction manuals, notebooks, prototypes, reports, samples,
        studies, and summaries).

       

      
        
          
          

        

        
          9

          
            

          

        

        
          
          

        

      

       

      “Intellectual
        Property Claim”
shall
        mean the assertion by any Person of a claim (whether asserted in writing,
        by
        action, suit or proceeding or otherwise) that any Seller’s ownership, use,
        marketing, sale or distribution of any Inventory, equipment, Intellectual
        Property or other Property is violative of any ownership of or right to use
        any
        Intellectual Property of such Person.

       

      “Interim
        Financial Statements”
shall
        have the meaning set forth in Section
        6.17(b).

       

      “Inventory”
shall
        mean (a) all supplies, materials and other inventories of raw materials and
        works-in-progress owned by the Sellers and located at the Geismar Facility,
        to
        the extent used or held for use in the Business and (b) all inventories of
        finished goods owned by the Sellers wherever located, including any inventories
        on consignment and any inventories located in warehouses or similar facilities,
        to the extent used in or held for use or sale by or in the Business, other
        than
        the Retained PPD Inventory.

       

      “IRS”
shall
        mean the United States Internal Revenue Service.

       

      “Known
        Pre-Closing Environmental Liabilities”
shall
        mean all Environmental Liabilities, Environmental Claims or Losses including
        the
        Geismar Response Action Costs based on, arising out of, or related to the
        Geismar Landfill, the Wastewater Tank Decommissioning Action Costs, the Phase
        II, the Sellers’ Financial Assurance Obligations, the AOCs and the
        SWMUs.

       

      “Law”
shall
        mean (a) the civil code and all treaties, laws, statutes, and ordinances
        (including common law) of any Governmental Authority and (b) any order,
        injunction, judgment, directive, rule or regulation of any Governmental
        Authority of competent jurisdiction, having the effect of law.

       

      “LDEQ”
shall
        mean the Louisiana Department of Environmental Quality.

       

      “Leased
        Real Property”
shall
        have the meaning set forth in Section
        4.8(c).

       

      
        
          
          

        

        
          10

          
            

          

        

        
          
          

        

      

       

      “Liabilities”
shall
        mean any and all debts, liabilities, obligations, commitments, responsibilities,
        fines, penalties and sanctions, absolute or contingent, matured or unmatured,
        liquidated or unliquidated, joint, several or individual, asserted or
        unasserted, accrued or unaccrued, known or unknown, due or to become due,
        whenever arising, including any costs, expenses, interest, reasonable attorneys’
fees, disbursements and expense of counsel, expert and consulting fees and
        costs
        related thereto or to the investigation
        or defense thereof.

       

      “LIBOR
        Rate”
shall
        have the meaning set forth in Section 3.2(c)(vii).

       

      “License
        Agreements”
shall
        mean (a) the Chinese Trademark License Agreement and (b) the license agreements
        pursuant to which the Sellers will license to the Purchaser the Intellectual
        Property, if any, used in and necessary for the conduct of, or developed
        primarily for use in, the Business as it is presently conducted and not
        transferred to the Purchaser as part of the Transferred Intellectual Property,
        including the Intellectual Property set forth in part A of Schedule 1.1(h),
        and the
        license agreement or agreements pursuant to which the Purchaser will license
        the
        patents and trademarks set forth in part B of Schedule 1.1(h)
        to
        Chemtura, in
        the
        case of clause (b) in a form to be agreed to between Chemtura and the Purchaser
        in accordance with Section
        6.25.

       

      “Lien”
shall
        mean, for any property or asset of a Person, a lien, security interest,
        mortgage, pledge, charge, servitude or encumbrance in, of or on such property
        or
        asset in favor of any other Person, except those in favor, or for the benefit,
        of the Purchaser. The term “Lien” shall also include title exceptions and
        encumbrances affecting Real Property, including reservations, exceptions,
        encroachments, easements, servitudes, rights-of-way, covenants, conditions,
        restrictions and leases.

       

      “Loss”
or
        “Losses”
shall
        mean any and all Liabilities, damages, awards, judgments, losses, settlement
        payments, Taxes, reasonable costs and reasonable expenses (including reasonable
        fees for legal, accounting and similar expenses, court costs and other costs
        of
        administrative proceedings or litigation), fines or penalties, in each case
        whether known or unknown, suspected or unsuspected.

       

      “Material
        Contracts”
shall
        have the meaning set forth in Section 4.14(b).

       

      “Material
        Customer”
shall
        have the meaning set forth in Section 4.10.

       

      “Material
        Licenses”
shall
        have the meaning set forth in Section 4.13(b).

       

      “Material
        Supplier”
shall
        have the meaning set forth in Section 4.10.

       

      “Monochem”
shall
        have the meaning set forth in the Preamble.

       

      “Monochem
        Business”
shall
        mean the provision of plant utilities services as currently conducted by
        Monochem.

       

      “Monochem
        Facility”
shall
        mean the Real Property owned by Monochem and located at 4266 Highway 73,
        Geismar, Louisiana and as more particularly described on Schedule 1.1(i).

       

      
        
          
          

        

        
          11

          
            

          

        

        
          
          

        

      

       

      “Naugalube
        Equipment”
shall
        mean all equipment, machinery and spare parts owned by a Seller and used
        or held
        for use exclusively for the production of Naugalube® 438 L and Naugard® FA33 and
        located at the Geismar Facility, and in each case as set forth on Schedule 1.1(j).

       

      “Naugalube
        Intellectual Property”
shall
        mean all Intellectual Property owned by a Seller and used or held for use
        primarily for the production of Naugalube® 438L or Naugard® FA33.

       

      “Naugatuck
        Equipment”
shall
        have the meaning set forth in Section 2.1(d).

       

      “Naugatuck
        Site”
shall
        mean the facilities of Chemtura and its Affiliates located in Naugatuck,
        Connecticut.

       

      “Naugatuck
        Technical Service Equipment”
shall
        have the meaning set forth in Section 6.13(a).

       

      “Net
        Working Capital Threshold Amount”
shall
        mean (a) $54,500,000 (comprising (i) Working Capital of the EPDM Business
        and
        the Monochem Business of $38,600,000, plus
        (ii)
        Accounts Receivable of the Rubber Chemicals Business of $15,900,000),
plus
        (b)
        $8,900,000 (comprising (i) an estimate of Inventory of the Rubber Chemicals
        Business of $16,800,000, less
        (ii) an
        estimate of Accounts Payable of the Rubber Chemicals Business of $7,900,000),
        in
        each case subject to adjustment pursuant to Section
        6.29.
        As of
        the Closing, the amount in clause (b) of this definition shall be replaced
        with
        an amount equal to (A) the actual Inventory of the Rubber Chemicals Business
        as
        of the Closing Date as calculated in accordance with the methodology set
        forth
        in Schedule
        1.1(k),
        less
        (B) the
        actual Accounts Payable of the Rubber Chemicals Business as of the Closing
        Date
        as calculated in accordance with the methodology set forth in Schedule
        1.1(k).

       

      “Non-Business
        Portion”
shall
        have the meaning set forth in Section 2.3(c).

       

      “Non-U.S.
        Employee”
shall
        mean any Business Employee who (a) is employed by the Chinese Joint Venture
        or
        (b) whose primary place of employment is in a non-U.S. jurisdiction and who
        is
        identified as a Non-U.S. Employee on Schedule
        1.1(l).
        

       

      “Non-U.S.
        Facilities”
shall
        mean the applicable Seller’s facility located at each of the following
        locations: (a) K.M. 14.5 Carr. Tampico-Altamira, Col. Laguna De La Puerta,
        Altamira, Tamaulipas, Mexico; (b) 5333-Caixa Postal 202, Rio Claro, San
        Paulo, Brazil; (c) 3-1 Hsing King Road, Ta Shi Industrial Zone, Kaoshiung,
        Taiwan; and (d) Via Pico Della Mirandola No. 8, Latina Scalo,
        Italy.

       

      “Notice
        of Acceptance”
shall
        have the meaning set forth in Section 3.2(c)(iii)(A).

       

      “Notice
        of Disagreement”
shall
        have the meaning set forth in Section 3.2(c)(iii)(B).

       

      “Offered
        Employees”
shall
        have the meaning set forth in Section 11.1.

       

      “Offers
        of Employment”
shall
        have the meaning set forth in Section 11.1.

       

      
        
          
          

        

        
          12

          
            

          

        

        
          
          

        

      

       

      “Other
        Chemtura Business”
shall
        mean any current or former business or operations of Chemtura or any of its
        Affiliates other than the Business.

       

      “Outbound
        Licenses”
shall
        have the meaning set forth in Section 4.13(b).

       

      “Patent
        Assignment”
shall
        mean a patent assignment by the applicable Seller in favor of the Purchaser
        substantially in the form set forth in Exhibit
        F.

       

      “PBGC”
shall
        have the meaning set forth in Section 4.17(d).

       

      “Permit”
shall
        mean all registrations, filings, permits, Consents, licenses, certificates,
        variances and similar rights granted by or obtained from any Governmental
        Authority.

       

      “Permitted
        Liens”
shall
        mean: (a) Liens for Taxes that are not yet delinquent or that are being
        contested in good faith by appropriate Proceedings for which adequate reserves
        have been established in accordance with the Calculation Principles and with
        the
        past practices of the Business; (b) workers’, mechanics’, materialmen’s,
        repairmen’s, suppliers’, carriers’ or similar Liens arising in the ordinary
        course of business with respect to obligations that are not yet delinquent;
        (c) zoning or other similar governmental restrictions that do not
        materially impair or interfere with the current use
        of
        such real property, leases or leasehold estates or the conduct of the Business;
        (d) Liens that secure Assumed Obligations and are set forth in Schedule 1.1(m);
        (e) Liens that do not secure any monetary obligations and that do not
        materially impair the value of the property subject to such Lien or the use
        of
        such property in the conduct of the Business; (f) Liens arising from leases
        of personal property that are Material Contracts; (g) Liens set forth in
Schedule
        1.1(m)
        and
        (h) easements, servitudes, rights-of-way and any other matters disclosed in
        the title policies for the Geismar Facility and the Monochem Facility delivered
        to or obtained by the Purchaser or its lenders in connection with the
        transactions contemplated by this Agreement and accepted by the
        Purchaser.

       

      “Person”
shall
        mean any individual, corporation, proprietorship, firm, partnership, limited
        partnership, limited liability company, trust, association or other
        entity.

       

      “Phase
        II”
shall
        mean all investigation or monitoring required as part of the RCRA
        Facility Investigation Phase II Work Plan as
        approved by the LDEQ in or about November 2006 including any additional
        investigation, analysis, testing, or studies that arise out of, or relate
        to the
        implementation of or any results obtained from or that may be required as
        a
        follow-up to the RCRA Facility Investigation Phase II Work Plan. 

       

      “Pilot
        Plant Equipment”
shall
        have the meaning set forth in Section 6.13(b).

       

      “PPD
        Equipment”
shall
        have the meaning set forth in Section 2.4(r).

       

      “PPD
        Products”
shall
        mean antiozonant products produced from the chemical intermediate para-amino
        di-phenyl amine, known as “4ADPA”.

       

      “Pre-Closing
        Tax Period”
shall
        mean (a) with respect to U.S. federal or state income Taxes related to the
        Chinese Joint Venture, any Tax period ending on or before the Closing Date
        and
        (b) with respect to any other Taxes, any Tax period ending before the
        Closing Date.

       

      
        
          
          

        

        
          13

          
            

          

        

        
          
          

        

      

       

      “Pre-Closing
        Tax Return”
shall
        have the meaning set forth in Section 6.10(a)(i).

       

      “Pre-Signing
        Financial Statements”
shall
        have the meaning set forth in Section 4.4.

       

      “Premerger
        Notification Provision”
shall
        mean any provision of foreign Law requiring (a) the submission of
        information and material to a Governmental Authority responsible for enforcing
        the antitrust and competition Laws, regulating monopolies, substantial lessening
        of competition, dominance and cartel conduct and (b) the parties to delay
        the consummation of the Closing until the termination of a specified waiting
        period or clearance and/or approval has otherwise been obtained. For the
        avoidance of doubt, these filings only pertain to competition and not to
        any
        other regulatory or national security filing relating to a merger, acquisition
        or joint venture.

       

      “Privileged
        Documents”
shall
        mean attorney-work product, attorney-client communications and other items
        protected by the attorney-client privilege.

       

      “Proceeding”
shall
        mean an action, suit or legal, administrative, arbitral or alternative dispute
        resolution proceeding.

       

      “Prohibited
        Product”
shall
        have the meaning set forth in Section 6.11(a)(i).

       

      “Property”
shall
        mean any interest in any kind of property or asset, whether real (immovable),
        personal (movable) or mixed and whether tangible or intangible.

       

      “Property
        Taxes”
shall
        have the meaning set forth in Section 6.10(c).

       

      “Proposed
        Adjustments”
shall
        have the meaning set forth in Section 3.2(c)(iii)(B).

       

      “Proposed
        Transfer”
shall
        have the meaning set forth in Section
        13.6(b).

       

      “Purchase
        Price”
shall
        have the meaning set forth in Section 3.1(a).

       

      “Purchased
        Assets”
shall
        have the meaning set forth in Section 2.1.

       

      “Purchased
        Contracts”
shall
        have the meaning set forth in Section 2.2.

       

      “Purchaser”
shall
        have the meaning set forth in the Preamble.

       

      “Purchaser
        Confidential Information”
shall
        have the meaning set forth in Section 6.8(c).

       

      “Purchaser
        Indemnified Party”
shall
        have the meaning set forth in Section 12.2.

       

      “Purchaser
        Master Supply Agreement”
shall
        mean a master supply agreement between the Purchaser and Chemtura with respect
        to the supply to Chemtura by the Purchaser of the products set forth on
Schedule 1.1(n)
        produced
        at the Geismar Facility, substantially in the form set forth in Exhibit
        G.

       

      “Purchaser’s
        Financial Assurance Obligations”
shall
        have the meaning set forth in Section
        2.5(j).

       

      
        
          
          

        

        
          14

          
            

          

        

        
          
          

        

      

       

      “Purchaser’s
        Knowledge”
or
        any
        similar expression with regard to the knowledge or awareness of or receipt
        of
        notice by the Purchaser, shall mean the actual knowledge of any of the Persons
        listed on Exhibit H
        after
        reasonable inquiry of those senior employees of the Purchaser whom such Persons
        reasonably believe would have actual knowledge of the matters
        represented.

       

      “Purchaser’s
        Option”
shall
        have the meaning set forth in Schedule
        6.12.

       

      “RCRA”
shall
        have the meaning set forth in Section 2.5(j).

       

      “RCRA
        Permit”
shall
        have the meaning set forth in the definition of Geismar Response
        Actions.

       

      “Real
        Property”
means
        all land and other immovable property, together with all buildings, structures,
        improvements and fixtures thereon and all servitudes, easements and other
        rights, benefits and interests appurtenant thereto.

       

      “Receivables
        Securitization Agreements”
means
        (a) the Fourth Amended and Restated Receivables Sale Agreement, dated as of
        September 28, 2006, among Crompton & Knowles Receivables Corporation,
        Chemtura, ABN AMRO Bank N.V. and the other banks and liquidity providers
        named
        therein and (b) the Amended and Restated Receivables Purchase Agreement,
        dated
        as of September 28, 2006, among Crompton & Knowles Receivables Corporation,
        Chemtura, Bio-Lab Inc. and Great Lakes Chemical Corporation, as consented
        to by
        ABN AMRO Bank N.V. 

       

      “Receiving
        Party”
shall
        have the meaning set forth in Section 6.8(d).

       

      “Reconciliation”
shall
        have the meaning set forth in Section
        6.17(a).

       

      “Registered
        Intellectual Property”
shall
        have the meaning set forth in Section 4.13(a).

       

      “Related
        Agreement”
shall
        mean any Contract that is to be entered into at the Closing, including the
        Accounts Payable Note, the Accounts Receivable Note, the Acts of Cash Sale,
        the
        Assignment and Assumption Agreement, the Bill of Sale, the Chemtura Master
        Supply Agreement, the Foreign Implementation Agreements, the Ground Lease,
        the
        License Agreements, the Patent Assignment, the Purchaser Master Supply
        Agreement, the Trademark Assignment and the Transition Services Agreement;
        provided,
        however,
        that,
        solely for purposes of Article
        12
        of this
        Agreement, the term “Related Agreement” shall not include the Chemtura Master
        Supply Agreement, the Ground Lease, the License Agreements, the Purchaser
        Master
        Supply Agreement and the Transition Services Agreement. The Related Agreements
        executed by a specified Person shall be referred to as “such Person’s Related
        Agreements,” “its Related Agreements” or other similar expression.

       

      “Release”
shall
        mean any release, spill, emission, overflow, leaking, pumping, pouring, dumping,
        emptying, discharge, disposing, deposit, injection, escaping, leaching, seepage,
        infiltration or migration, whether intentional or accidental, authorized
        or
        unauthorized, into the environment or into or out of any property.

       

      
        
          
          

        

        
          15

          
            

          

        

        
          
          

        

      

       

      “Relevant
        Month”
means
        the most recently completed calendar month ending at least five days prior
        to
        the Closing for which Interim Financial Statements shall be delivered to
        the
        Purchaser pursuant to Section
        6.17(b).

       

      “Representatives”
shall
        mean, as to any Person, such Person’s Affiliates and its and their respective
        directors, officers, members, employees, agents, advisors (including financial
        advisors, counsel and accountants), shareholders, owners
        and controlling persons.

       

      “Restricted
        Areas”
shall
        have the meaning set forth in Section 12.9(a).

       

      “Retained
        IT Assets”
shall
        have the meaning set forth in Section 2.4(p).

       

      “Retained
        Obligations”
shall
        have the meaning set forth in Section 2.6.

       

      “Retained
        PPD Inventory”
shall
        mean all finished goods inventory of PPD Products located at the Non-U.S.
        Facilities and owned by a Seller.

       

      “Retained
        PPD Receivables”
shall
        have the meaning set forth in the definition of Accounts
        Receivable.

       

      “Retained
        Product Claims”
shall
        have the meaning set forth in Section
        2.6(i).

       

      “Rubber
        Chemicals Business”
shall
        mean the Sellers’ business of producing, marketing and selling the products set
        forth on Part A of Schedule 1.1(o)
        and the
        Sellers’ business of granulating, marketing and selling the products set forth
        on Part B of Schedule 1.1(o),
        but
        excluding the marketing and sale of Celogen® OT and Celogen® AZ blends for use
        in any application other than rubber, but including the business conducted
        by
        the Chinese Joint Venture. 

       

      “SAP
        Letter Agreement”
shall
        mean the letter agreement, dated December 28, 2006, as amended, between Chemtura
        Corporation and Lion Chemical Capital, LLC, relating to certain SAP licenses
        obtained by Chemtura and to be assigned to the Purchaser hereunder and
        thereunder.

       

      “Seller”
shall
        mean, individually, Chemtura, Chemtura Canada Co./Cie, Chemtura Industria
        Quimica do Brasil Limitada, Chemtura Italy S.r.l., Chemtura Corporation,
        S.A. de
        C.V., Chemtura Netherlands B.V., Monochem and Uniroyal Chemical Taiwan Ltd.,
        and
        the term “Sellers”
shall
        mean all such entities collectively.

       

      “Seller
        Confidential Information”
shall
        have the meaning set forth in Section 6.8(a).

       

      “Seller
        Indemnified Party”
shall
        have the meaning set forth in Section 12.3.

       

      “Seller
        Plans”
shall
        mean, collectively, the Benefit Plans and the Benefit Programs.

       

      “Sellers’
        Financial Assurance Obligations”
shall
        have the meaning set forth in Section 2.6(h).

       

      
        
          
          

        

        
          16

          
            

          

        

        
          
          

        

      

       

      “Sellers’
        Knowledge”
or
        any
        similar expression with regard to the knowledge or awareness of or receipt
        of
        notice by any Seller, shall mean the actual knowledge of any of the Persons
        listed on Exhibit I
        after
        reasonable inquiry of those senior employees of any Seller whom such Persons
        reasonably believe would have actual knowledge of the matters
        represented.

       

      “Sellers’
        Offsite Environmental Liability”
shall
        mean any Loss, Environmental Claims or Environmental Liabilities resulting
        from
        the Release of Hazardous Substances from any Property (i) in connection
        with the operations of the Sellers at the Geismar Facility or the Monochem
        Facility or the operations of the Chinese Joint Venture, in each case before
        the
        Closing Date, and (ii) at which any Seller (in connection with the
        operations of the Geismar Facility or the Monochem Facility) by contract,
        agreement or otherwise arranged for the disposal, storage or treatment of
        Hazardous Substances generated, owned or possessed by any Seller or the Chinese
        Joint Venture, including any such arrangement related to the Sellers’
obligations under this Agreement and (iii) at which the Chinese Joint
        Venture by contract, agreement or otherwise arranged, prior to the Closing
        Date,
        for the disposal, storage or treatment of Hazardous Substances generated,
        owned
        or possessed by the Chinese Joint Venture. 

       

      “Shared
        Contracts”
shall
        mean those Group Contracts set forth on Schedule 1.1(p).

       

      “Solid
        Waste Management Unit”
or
        “SWMU”
shall
        mean those areas referred to as “Solid Waste Management Units” in the Phase II
        and shall include any additional or new Solid Waste Management Units that
        may
        arise out of or be designated as a part of the Phase II.

       

      “Straddle
        Period”
means
        any Tax period that begins before the Closing Date and ends on or after the
        Closing Date.

       

      “Straddle
        Period Tax Return”
shall
        have the meaning set forth in Section 6.10(a)(ii).

       

      “Tax”
or
        “Taxes”
shall
        mean (a) all taxes, charges, fees, duties, levies or other assessments
        (including income, gross receipts, net proceeds, ad valorem, turnover, real
        and
        personal property (tangible and intangible), sales, use, franchise, excise,
        goods and services, value added, stamp, user, transfer, fuel, excess profits,
        occupational, interest equalization, windfall profits, severance, payroll,
        unemployment and Social Security taxes) which are imposed by any Governmental
        Authority, and such term shall include any interest, penalties or additions
        to
        tax attributable thereto (or to the nonpayment thereof), whether disputed
        or
        not, and (b) any liability for the payment of any amounts of the type described
        in clause (a) of this definition as a result of being a member of an affiliated,
        consolidated, combined or unitary group for any period, as a result of any
        tax
        sharing, tax indemnity or tax allocation agreement, arrangement or
        understanding, or as a result of being liable for another Person’s taxes as a
        transferee or successor, by contract or otherwise.

       

      “Tax
        Return”
shall
        mean any report, declaration, statement, return or other information required
        to
        be supplied to a Governmental Authority in connection with any Taxes, including
        any schedule or attachment thereto and any amendment thereof.

       

      “Tax
        Statute of Limitations Date”
shall
        mean the expiration of the applicable statute of limitations with respect
        to any
        Tax, including any extensions thereof (or if such date is not a Business
        Day,
        the next Business Day).

       

      
        
          
          

        

        
          17

          
            

          

        

        
          
          

        

      

       

      “Technology”
shall
        mean trade secrets, proprietary information and know-how, including inventions,
        discoveries, formulae, practices, processes, procedures, ideas, specifications,
        engineering data, interpretations of any data, software, firmware, programs,
        source codes, databases, data collections, customer lists, supplier lists,
        pricing and cost information, business and marketing plans, manufacturing
        and
        production processes, in each case that is not the subject of a patent or
        patent
        application or a registration or application for registration with
        any
        Governmental Authority.

       

      “Term
        Sheet”
shall
        have the meaning set forth in Section 5.5(a).

       

      “Third
        Party Claim”
shall
        have the meaning set forth in Section 12.6.

       

      “Title
        and Authorization Warranty”
shall
        mean a representation or warranty in Section 4.1,
        4.2,
        4.6,
        4.8(b),
        4.13(c)(iv),
        4.13(c)(vi),
        5.1
        or
5.2.

       

      “Title
        Commitments”
shall
        have the meaning set forth in Section
        7.16.

       

      “Title
        IV Plan”
shall
        have the meaning set forth in Section 4.17(d).

       

      “Trademark
        Assignment”
shall
        mean a trademark assignment by the Sellers in favor of the Purchaser
substantially
        in the form set forth in Exhibit
        J.

       

      “Transfer
        Taxes”
shall
        have the meaning set forth in Section 6.10(d).

       

      “Transferred
        Employee”
shall
        have the meaning set forth in Section 11.1.

       

      “Transferred
        Intellectual Property”
shall
        have the meaning set forth in Section 2.1(f).

       

      “Transferred
        IT Assets”
shall
        have the meaning set forth in Section 2.1(g).

       

      “Transferred
        IT Contracts”
shall
        have the meaning set forth in Section 2.2(a).

       

      “Transferred
        Owned Real Property”
shall
        mean the Geismar Facility and the Monochem Facility.

       

      “Transferred
        Patents”
shall
        have the meaning set forth in Section 2.1(f)(iii).

       

      “Transferred
        Technology”
shall
        have the meaning set forth in Section 2.1(f)(ii).

       

      “Transferred
        Trademarks”
shall
        have the meaning set forth in Section 2.1(f)(i).

       

      “Transition
        Services Agreement”
shall
        mean a transition services agreement in
        a form
        to be agreed to between Chemtura and the Purchaser in accordance with
Section
        6.25.

       

      “UK
        Employees”
shall
        have the meaning set forth in Section
        11.7(a).

       

      “Unknown
        Pre-Closing Environmental Liabilities”
shall
        mean all Environmental Liabilities, Environmental Claims or Losses based
        on,
        arising out of, or related to any acts, events, conditions or circumstances,
        or
        occurrences associated with, or arising or occurring in connection with or
        related to the operations of the Sellers at the Geismar Facility or the Monochem
        Facility or the operations of the Chinese Joint Venture, in each case before
        the
        Closing Date, including any claims based on alleged exposure of any individual
        or individuals to asbestos or other Hazardous Substances but shall not include
        the Known Pre-Closing Environmental Liabilities.

       

      
        
          
          

        

        
          18

          
            

          

        

        
          
          

        

      

       

      “Unresolved
        Adjustments”
shall
        have the meaning set forth in Section 3.2(c)(iv).

       

      “Unresolved
        Comments”
shall
        have the meaning set forth in Section
        6.29(a)(iii). 

       

      “Warranty
        Costs”
shall
        have the meaning set forth in Section 6.19.

       

      “Warranty
        Obligations”
shall
        have the meaning set forth in Section 6.19.

       

      “Wastewater
        Tank”
shall
        have the meaning set forth in Section 6.15.

       

      “Wastewater
        Tank Decommissioning”
shall
        have the meaning set forth in Section 6.15.

       

      “Wastewater
        Tank Decommissioning Action Costs”
shall
        mean any and all costs and expenses incurred in connection with the Wastewater
        Tank Decommissioning, including: costs and expenses of environmental
        consultants; costs and expenses of treating and disposing of the contents
        of the
        Wastewater Tank; costs and expenses of conducting sampling and monitoring;
        and
        reimbursements of costs and expenses incurred by or paid to any Governmental
        Authority relating to any of the foregoing as well as the costs of reasonably
        removing sludge and bottoms from the wastewater tank referred to as tank
        WV-302
        located on the Geismar Facility.

       

      “Working
        Capital”
shall
        mean (a) the sum of (i) the
        amount equal to the Accounts Receivable and the Inventory, in each case net
        of
        related reserves and determined in accordance with the Calculation Principles
        (except in the case of the amount of the Inventory of the
        Rubber Chemicals Business which shall be determined in accordance with the
        methodology set forth in Schedule
        1.1(k)),
        but in
        each case excluding all Excluded Assets, and (ii) the principal amount
of
        the
        Accounts Receivable Note, minus
        (b) the sum of (i) the amount equal to the Current Liabilities and
        (ii) the principal amount of the Accounts Payable Note. Notwithstanding the
        foregoing, solely for purposes of the preparation of the Estimated Closing
        Statement pursuant to Section
        3.2(c),
        (A) the amount in clause (a)(ii) of this definition of “Working Capital”
shall be the aggregate amount of all Foreign Accounts Receivable (excluding
        the
        Factored Accounts Receivable and net of related reserves and VAT taxes) as
        of
        12:00:01 a.m. (eastern time) on the Closing Date and (B) the amount in
        clause (b)(ii) of this definition of “Working Capital” shall be calculated using
        the aggregate amount of all Accounts Payable as of 12:00:01 a.m. (eastern
        time)
        on the Closing Date determined in accordance with the Calculation Principles
        (except in the case of Accounts Payable of the Rubber Chemicals Business
        which
        shall be determined in accordance with the methodology set forth in Schedule
        1.1(k)).
        For
        the avoidance of doubt, no assets and liabilities shall be double counted
        in the
        above calculation of Working Capital. 

       

      “Working
        Capital Adjustment Amount”
shall
        mean the amount (which may be a positive or negative number) equal to (a)
        the
        Closing Working Capital Amount, minus (b)
        the Estimated Working Capital Amount.

       

      
        
          
          

        

        
          19

          
            

          

        

        
          
          

        

      

       

      1.2 Other
        Definitional Provisions and Interpretation.
        The
        headings preceding the text of Articles and Sections included in this Agreement
        and the headings to Exhibits and Schedules attached to this Agreement are
        for
        convenience only and shall not be deemed part of this Agreement or be given
        any
        effect in interpreting this Agreement. The use of the masculine, feminine
        or
        neuter gender or the singular or plural form of words herein shall not limit
        any
        provision of this Agreement. The use of the terms “including” or “include” shall
        in all cases herein mean “including, without limitation” or “include, without
        limitation,” respectively. Reference to any Person includes such Person’s
        successors and assigns to the extent such successors and assigns are permitted
        by the terms of any applicable agreement. Reference to a Person in a particular
        capacity excludes such Person in any other capacity or individually. Reference
        to any agreement (including this Agreement), document or instrument means
        such
        agreement, document or instrument as amended or modified and in effect from
        time
        to time in accordance with the terms thereof and, if applicable, the terms
        hereof. Underscored references to Articles, Sections, paragraphs, clauses,
        Exhibits or Schedules shall refer to those portions of this Agreement. The
        use
        of the terms “hereunder,” “hereof,” “hereto” and words of similar import shall
        refer to this Agreement as a whole and not to any particular Article, Section,
        paragraph or clause of, or Exhibit or Schedule to, this Agreement. Terms,
        other
        than those defined or referenced in Section 1.1,
        may be
        defined elsewhere in the text of this Agreement and, unless otherwise indicated,
        shall have the specified meaning throughout this Agreement.

       

      ARTICLE
        2.

      PURCHASE
        AND SALE OF ASSETS; ASSUMPTION OF ASSUMED OBLIGATIONS

       

      2.1 Purchase
        and Sale of Assets.
        Upon
        the terms and subject to the conditions of this Agreement, at the Closing,
        each
        Seller shall sell, assign, convey, transfer and deliver to the Purchaser,
        and
        the Purchaser shall purchase and acquire from such Seller, and take assignment
        and delivery from such Seller of, all of such Seller’s right, title and interest
        in and to the following assets, properties and rights, as the same shall
        exist
        on the Closing Date (but excluding the Purchased Contracts and Assigned Permits,
        which are specifically addressed in Section 2.2,
        and the
        Excluded Assets, and excluding the assets, properties and rights of the Chinese
        Joint Venture) (the “Purchased
        Assets”):

       

      (a) Inventory.
        The
        Inventory;

       

      (b) Transferred
        Owned Real Property.
        The
        Transferred Owned Real Property;

       

      (c) Geismar
        Equipment.
        All
        equipment, machinery, furniture, spare parts, furnishings, tooling, dies,
        vehicles, office equipment and supplies, computer hardware, corporeal movables
        and other items of tangible personal property that are owned by a Seller
        and
        located at the Geismar Facility;

       

      (d) Naugatuck
        Equipment.
        The
        equipment located at the Naugatuck Site and set forth on Schedule 2.1(d)
        (the
“Naugatuck
        Equipment”);

       

      (e) Information
        and Records. Except
        as
        otherwise provided in Section 2.4(w),
        all
        customer lists, supplier lists, price lists, sales records, invoices, product
        specifications, advertising materials, cost and pricing manuals, training
        manuals, engineering data, maintenance schedules, operating and production
        records, order lists, copies of Tax and financial records and credit records
        of
        customers, and other documents (such documents, “Information
        and Records”)
        related to the Purchased Assets, Purchased Contracts and Assumed Obligations,
        including compilations of any of the foregoing, in each case whether in hard
        copy or electronic format and supplied in their current formats and that
        (i) are owned by a Seller and used primarily in or have arisen primarily
        from the conduct of the Business or are necessary for the ongoing operations
        of
        the Business (which in the case of Information and Records that are necessary
        for the ongoing operations of Other Chemtura Businesses will be retained
        by the
        Sellers and made available to the Purchaser pursuant to Section
        6.6(b))
        or (ii)
        must be delivered to the Purchaser under applicable Law; provided,
        that
        (A) the Sellers shall be entitled to retain copies of such Information and
        Records and (B) where originals of such Information and Records must be retained
        by any Seller under applicable Law, the Sellers will provide the Purchaser
        with
        a copy of the same;

       

      
        
          
          

        

        
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      (f) Intellectual
        Property.
        Except
        for patents and patent applications which are addressed in Section 2.1(f)(iii),
        all
        Intellectual Property owned by any Seller and used primarily in the Business
        (the “Transferred
        Intellectual Property,”
which
        for the avoidance of doubt, includes the Intellectual Property licensed by
        the
        applicable Seller to the Chinese Joint Venture except for the following licensed
        marks: TUEX, MONEX, METHAZATE, BUTAZATE and ETHAZATE), and all rights to
        sue for
        past, present and future infringement and remedies related thereto. The
        Transferred Intellectual Property includes the following:

       

      (i) Trademarks.
        All
        trade names, domain names, trademarks, service marks, trade dress and logos
        owned by any Seller that are used primarily in the conduct of the Business,
        together with all translations, adaptations, derivations and combinations
        thereof and all goodwill associated therewith, including the registrations
        and
        applications for registration for the foregoing and the material unregistered
        trademarks set forth on Schedule 2.1(f)(i)
        (the
“Transferred
        Trademarks”)
        (it
        being understood, for the avoidance of doubt, that the Transferred Trademarks
        shall not include the Chemtura Names);

       

      (ii) Technology.
        All
        Technology owned by any Seller that (A) is described on Schedule 2.1(f)(ii)
        or (B)
        arose primarily from the conduct of the Business and has been or is
        currently used
        or
        held for use primarily in the Business (the “Transferred
        Technology”);
        and

       

      (iii) Patents.
        All
        patents and patent applications owned by the Sellers that are set forth on
        Schedule 2.1(f)(iii)
        (the
“Transferred
        Patents”).

       

      (g) Transferred
        IT Assets.
        All
        information technology assets, hardware, systems, databases, networks, and
        infrastructure of any Seller that are used or held for use primarily in the
        conduct of the Business, including those set forth on Schedule 2.1(g)
        (the
“Transferred
        IT Assets”);

       

      (h) Accounts
        Receivable.
        All
        Accounts Receivable other than the Foreign Accounts Receivable;

       

      
        
          
          

        

        
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      (i) Goodwill.
        All of
        the customer relationships and related goodwill of the Sellers to the extent
        resulting from the conduct of the Business by the Sellers (it being understood,
        for the avoidance of doubt, that such goodwill shall not include any goodwill
        associated with the Chemtura Names, Other Chemtura Businesses or Excluded
        Assets
        or any goodwill to the extent associated with continuing customers of Other
        Chemtura Businesses);

       

      (j) Monochem.
        All of
        the assets, properties and rights of Monochem;

       

      (k) Chinese
        Joint Venture.
        All of
        Chemtura’s equity interest in the Chinese Joint Venture; and

       

      (l) Other
        Business Assets.
        All
        assets (real or personal, tangible or intangible), other than those of a
        nature
        or type described in the foregoing clauses
        (a)
        through
(k),
        owned
        by a Seller and used primarily in the EPDM Business or the Rubber Chemicals
        Business, but excluding the PPD Equipment.

       

      Notwithstanding
        the foregoing, the transfer of the Purchased Assets pursuant to this Agreement
        shall not include the assumption of any of the Liabilities of the Sellers
        related to the Purchased Assets unless the Purchaser expressly assumes any
        such
        Liabilities pursuant to Section 2.5.

       

      2.2 Assignment
        of Permits and Contracts.
        Except
        as provided in Sections
        2.3
        and
2.4,
        upon
        the terms and subject to the conditions of this Agreement, at the Closing,
        each
        Seller shall assign and transfer to the Purchaser, and the Purchaser shall
        take
        assignment of, all of such Seller’s right, title and interest in and to all
        Permits related to the Business or the Assets to the extent such Permits
        are
        transferable by such Seller (including the Permits listed on Schedule 2.2
        but
        excluding Permits of the Chinese Joint Venture) (collectively, the “Assigned
        Permits”),
        and
        in and to the following Contracts or contractual rights of such Seller
        (excluding, in each case, Contracts to which the Chinese Joint Venture is
        a
        party but no Seller is a party or contractual rights solely of the Chinese
        Joint
        Venture) (such Contracts and contractual rights, the “Purchased
        Contracts”):

       

      (a) Transferred
        IT Contracts.
        All
        Contracts for the provision of software, hardware, systems, networks,
        infrastructure, communications, support and information technology that are
        used
        primarily in the conduct of the Business, including those set forth on
Schedule 2.2(a)
        (the
“Transferred
        IT Contracts”);

       

      (b) Other
        Contracts.
        Other
        than the Shared Contracts, the other Contracts related to the Business set
        forth
        on Schedule 2.2(b)
        and all
        other Contracts relating primarily to the Business (it being understood that,
        on
        the fifth Business Day prior to the Closing, the Sellers shall provide the
        Purchaser with an updated version of Schedule 2.2(b)
        reflecting the Contracts relating primarily to the Business that were entered
        into by a Seller on or after the date of this Agreement not in violation
        of
Section 6.2
        of this
        Agreement);

       

      (c) Non-Disclosure
        Obligations.
        Except
        to the extent related to the Excluded Assets or Retained Obligations, all
        non-disclosure, confidentiality and similar obligations owed to any Seller
        to
        the extent related to the Business, including confidentiality agreements
        related
        to the sale of the Business (other than confidentiality agreements related
        to
        the sale of the Business the assignment or disclosure of which to the Purchaser
        would constitute a breach thereof);

       

      
        
          
          

        

        
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      (d) Claims.
        Except
        to the extent related to the Excluded Assets or Retained Obligations, all
        warranty rights and indemnities against third parties, in each case to the
        extent arising from the conduct of the Business by any Seller and not arising
        under rights of subrogation under a Seller Plan;

       

      (e) Employee
        Non-Compete and Confidentiality Obligations.
        All
        rights with respect to any obligation of any Business Employee owed to any
        Seller to refrain from competing with the Business or to keep information
        regarding the Business confidential, in each case to the extent such rights
        are
        transferable; and

       

      (f) Shared
        Contracts.
        Subject
        to Section 2.3(c),
        Sellers’ rights under the Shared Contracts to the extent relating to the conduct
        of the Business.

       

      2.3 Certain
        Provisions Regarding Assignments.

       

      (a) Anything
        in this Agreement to the contrary notwithstanding, neither this Agreement
        nor
        any of the actions taken hereunder shall constitute an assignment or an
        agreement to assign or transfer any Purchased Contract or any claim, right,
        benefit or obligation thereunder or resulting therefrom if (i) an assignment
        or
        transfer thereof, without the Consent of a third party thereto, would constitute
        a breach or violation thereof, result in a material loss or diminution thereof
        or impose any Liability on any Seller and (ii) such Consent is not obtained
        at
        or prior to the Closing, in which case the provisions of Section 2.3(b)
        will
        apply.

       

      (b) If
        the
        parties are not successful in obtaining a required third party Consent with
        respect to any Purchased Contract as contemplated by Section 2.3(a)
        at or
        prior to the Closing, then until such time as such Consent is obtained (i)
        the
        Purchaser shall be entitled to the benefits of any such Contract accruing
        after
        the Closing to the extent (and only to the extent) that the applicable Seller
        may provide such benefits (y) without violating the terms of such Contract
        and
        (z) without incurring any material expense (unless the Purchaser has committed
        to promptly reimburse the applicable Seller therefor) or otherwise taking
        any
        material actions or measures (such as hiring additional employees) and (ii)
        the
        Purchaser shall perform at its sole expense the obligations of the applicable
        Seller to be performed after the Closing under such Contract to the extent
        (and
        only to the extent) the applicable Seller is providing benefits under such
        Contract to the Purchaser in accordance with clause
        (i)
        of this
Section 2.3(b).
        The
        terms of this Section 2.3(b)
        shall
        not apply with respect to Shared Contracts, it being understood that the
        treatment of Shared Contracts is addressed in Section 2.3(c).

       

      (c) Prior
        to
        the Closing and consistent with applicable Law, each Seller and the Purchaser
        shall use their commercially reasonable efforts to work together (and, if
        necessary and desirable, to work with the third parties party to the Shared
        Contracts) in an effort to (i) divide, modify and/or replicate (in whole
        or in
        part) the respective rights and obligations under and in respect of the Shared
        Contracts and (ii) if possible, novate the respective rights and obligations
        under and in respect of the Shared Contracts, such that, effective as of
        the
        Closing, (A) the Purchaser is the beneficiary of the rights and is responsible
        for the obligations related to that portion of the Shared Contract included
        in
        the Purchased Contracts (the “Business
        Portion”)
        (so
        that, after the Closing, the applicable Seller shall have no rights or
        obligations with respect to the Business Portion of the Shared Contract)
        and (B)
        the applicable Seller is the beneficiary of the rights and is responsible
        for
        the obligations related to the Shared Contract other than the Business Portion
        (the “Non-Business
        Portion”)
        (so
        that, after the Closing, the Purchaser shall have no rights or obligations
        with
        respect to the Non-Business Portion of the Shared Contract). If the parties
        are
        not able to enter into an arrangement to formally divide, modify and/or
        replicate one or more Shared Contracts prior to the Closing as contemplated
        by
        the previous sentence, then (1) the Purchaser shall be entitled to the benefits
        of the Business Portion of any such Shared Contract accruing after the Closing
        to the extent (and only to the extent) that the applicable Seller may provide
        such benefits (y) without violating the terms of such Shared Contract and
        (z)
        without incurring any material expense (unless the Purchaser has committed
        to
        promptly reimburse the applicable Seller therefor) or otherwise taking any
        material actions or measures (such as hiring additional employees) and (2)
        the
        Purchaser shall perform at its sole expense the obligations of the applicable
        Seller to be performed after the Closing under the Business Portion of such
        Shared Contract to the extent (and only to the extent) the applicable Seller
        is
        providing benefits under such Shared Contract to the Purchaser in accordance
        with clause
        (1)
        of this
Section 2.3(c).

       

      
        
          
          

        

        
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      2.4 Excluded
        Assets.
        Notwithstanding the provisions of Sections
        2.1
        and
2.2,
        no
        Seller shall sell, assign, convey, transfer or deliver to the Purchaser,
        and the
        Purchaser shall not purchase, acquire or take assignment or delivery of,
        any
        assets, properties or rights other than the Assets (collectively, the
“Excluded
        Assets”).
        Without limiting the foregoing, the Excluded Assets shall include:

       

      (a) Cash.
        All
        cash, certificates of deposit, bank deposits, negotiable instruments, marketable
        securities and other cash equivalents, together with all accrued but unpaid
        interest thereon;

       

      (b) Real
        Property.
        All
        Real Property owned by the Sellers and their Affiliates, other than the
        Transferred Owned Real Property;

       

      (c) Chemtura
        Names.
        The
        Chemtura Names and all goodwill associated therewith;

       

      (d) Tax
        Refunds; Tax Returns.
        All
        claims for and rights to receive refunds, rebates or similar payments of
        Taxes
        to the extent such Taxes were paid by or on behalf of any Seller or any of
        its
        Affiliates (other than the Chinese Joint Venture), all Tax Returns and all
        notes, worksheets, files or documents relating thereto;

       

      
        
          
          

        

        
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      (e) Corporate
        Records.
        All
        minute books and corporate records of the Sellers or any of their Affiliates
        (other than the Chinese Joint Venture), whether in hard copy or electronic
        format;

       

      (f) Employee
        Records.
        All
        personnel, employee compensation, medical and benefits and labor relations
        records relating to employees or past employees of the Sellers or any of
        their
        Affiliates (other than the Chinese Joint Venture), whether in hard copy or
        electronic format; provided,
        however,
        that
        the Sellers shall deliver to the Purchaser copies of such records for employees
        who are Transferred Employees (i) as to the Transferred Employees that are
        Non-U.S. Employees, upon a showing of employee consent to such delivery,
        and
        (ii) as to the other Transferred Employees, unless such employee’s consent is
        required by Law therefor, in which event such records shall not be made
        available to the Purchaser without such employee’s consent to such
        delivery;

       

      (g) Other
        Records.
        All
        books and records not transferred pursuant to Section 2.1(e),
        including financial records, in each case whether in hard copy or electronic
        format;

       

      (h) Sale
        Documents.
        Except
        as otherwise provided in Section 2.1(e),
        books
        and records prepared or received in connection with the proposed sale of
        the
        Business, including offers received from prospective purchasers, and the
        right,
        title and interest of the Sellers under this Agreement or any Related
        Agreement;

       

      (i) Disposed
        Assets.
        All
        assets sold or otherwise disposed of, and rights expiring or terminated,
        in the
        ordinary course of business and not in violation of this Agreement during
        the
        period from the date of this Agreement until the Closing Date;

       

      (j) Insurance.
        Any
        insurance policies or insurance coverage relating to the Assets or the Business
        and any prepaid insurance assets or insurance receivables related
        thereto;

       

      (k) Intercompany
        Agreements.
        Except
        as set forth on Schedule
        2.4(k),
        all
        Contracts solely between the Sellers or any Seller (on the one hand) and
        any one
        or more Affiliates (other than the Chinese Joint Venture) of any Seller (on
        the
        other hand);

       

      (l) Group
        Contracts.
        All
        Group Contracts other than the respective Business Portions of the Shared
        Contracts;

       

      (m) Intellectual
        Property.
        All
        right, title and interest in or to any Intellectual Property or other intangible
        property or rights owned by, or leased or licensed to, any Seller or any
        of
        their Affiliates (other than the Chinese Joint Venture) (such excluded
        Intellectual Property to include the Naugalube Intellectual Property and
        the
        Intellectual Property related to B-Nine® and Maleic Hydrazides), other than the
        Transferred Intellectual Property, the Transferred IT Contracts, any Purchased
        Contracts relating to Intellectual Property and the rights of the Purchaser
        under the License Agreements;

       

      (n) Non-Disclosure
        Obligations.
        All
        non-disclosure, confidentiality and similar rights or obligations to the
        extent
        related to any Other Chemtura Business;

       

      
        
          
          

        

        
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      (o) Employee
        Non-Compete Obligations.
        All
        rights with respect to any obligation of any Business Employee to refrain
        from
        competing with any Other Chemtura Business;

       

      (p) Retained
        IT Assets.
        The
        information technology assets, systems, networks and Contracts of any Seller
        that are not used or held for use primarily in connection with the Business,
        including as set forth on Schedule 2.4(p)
        (the
“Retained
        IT Assets”);

       

      (q) Rubicon.
        All
        right, title and interest of Chemtura and its Affiliates in and to Rubicon
        LLC;

       

      (r) PPD
        Equipment.
        All
        equipment and machinery that are owned by a Seller and used or held for use
        in
        the Rubber Chemicals Business exclusively in the production of PPD Products
        at
        the Non-U.S. Facilities (the “PPD
        Equipment”);

       

      (s) Claims.
        All
        warranty rights and indemnities against third parties, in each case to the
        extent related to the Excluded Assets or Retained Obligations;

       

      (t) Benefit
        Plans.
        All of
        the Seller Plans;

       

      (u) Retained
        PPD Assets.
        The
        Retained PPD Inventory and the Retained PPD Receivables;

       

      (v) Foreign
        Accounts Receivable.
        The
        Foreign Accounts Receivable;

       

      (w) Privileged
        Documents.
        Any
        Privileged Documents to the extent relating to any Excluded Asset or any
        Retained Liability; and

       

      (x) Other
        Assets.
        All
        other assets (real or personal, tangible or intangible) and Contracts of
        the
        Sellers not included in the Purchased Assets, Assigned Permits or Purchased
        Contracts.

       

      None
        of
        the Excluded Assets shall be included in the term “Assets,” “Purchased Assets,”
“Purchased Contracts,” “Assigned Permits” or any other term defined in
Section 2.1
        or
2.2.

       

      2.5 Assumed
        Obligations.
        Upon
        the terms and subject to the conditions of this Agreement, at the Closing,
        the
        Purchaser shall assume and agree to pay, perform and discharge only the
        following Liabilities of the Sellers and their Affiliates (the “Assumed
        Obligations”):

       

      (a) Current
        Liabilities.
        All
        Current Liabilities;

       

      (b) Purchased
        Contracts.
        All
        Liabilities under the Purchased Contracts, including the Business Portion
        of the
        Shared Contracts, relating to the period after the Closing (subject to
Section 2.5(c));

       

      (c) Product
        Claims.
        Except
        for Environmental Liabilities, which are excluded from this Section 2.5(c),

       

      
        
          
          

        

        
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      (i) subject
        to clause
        (iii)
        below,
        all Liabilities arising with respect to the products produced by or on behalf
        of
        the Purchaser after the Closing or the services of the Business delivered
        or
        provided by or on behalf of the Purchaser after the Closing, in each case
        whether arising under warranty, contract, equity, tort, strict liability,
        product liability, statute or otherwise;

       

      (ii) all
        Liabilities with respect to any product of the Business produced by or on
        behalf
        of any Seller prior to the Closing and sold or delivered by or on behalf
        of the
        Purchaser after the Closing (whether arising under warranty, contract, equity,
        tort, strict liability, product liability, statute or otherwise), to the
        extent
        that:

       

      (A) the
        Purchaser has changed in any substantive manner the terms or scope of any
        product warranty associated with such product from the applicable warranty
        offered by the Business as of the date hereof or, at the Purchaser’s election,
        as of the Closing;

       

      (B) a
        product
        produced by or on behalf of the Purchaser after the Closing and having the
        same
        product specifications as the applicable product produced by or on behalf
        of a
        Seller prior to the Closing was sold or delivered by or on behalf of the
        Purchaser or the Business on a date earlier than the date of sale or delivery
        of
        such product produced by or on behalf of a Seller; or

       

      (C) such
        product was sold or delivered by or on behalf of the Purchaser or the Business
        following the first anniversary of the Closing Date, provided
        that
        such period of sale or delivery shall be extended to 18 months following
        the
        Closing Date with respect to those products of the Business on which Chemtura
        and the Purchaser shall agree on or prior to the Closing (together with any
        other products of the Business on which the parties are unable to agree,
        so long
        as the Purchaser has a good faith basis for so extending such
        period);

       

      (iii) all
        Liabilities with respect to any Flexzone® 7-L products produced by or on behalf
        of the Seller prior to the Closing that are commingled with Flexzone® 7-L
        products produced by or on behalf of the Purchaser after the Closing (whether
        arising under warranty, contract, equity, tort, strict liability, product
        liability, statute or otherwise), to the extent that:

       

      (A) such
        Flexzone® 7-L products produced by the Purchaser after the Closing are
        determined, following an investigation by the parties, not to have conformed
        to
        the Purchaser’s product specifications; or

       

      (B) such
        Flexzone® 7-L product was sold or delivered by or on behalf of the Purchaser
        following the 20th day after the Closing Date;

       

      (d) Employee
        Obligations.
        All
        Liabilities to or with respect to the Transferred Employees occurring after
        the
        Closing and relating solely to the period after the Closing, except as provided
        in Article
        11
        or any
        Employee Exhibit;

       

      
        
          
          

        

        
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      (e) Permits.
        All
        Liabilities under the Assigned Permits relating to the period after the
        Closing;

       

      (f) Intellectual
        Property Liabilities.
        All
        Liabilities in connection with the Transferred Intellectual Property relating
        to
        the period after the Closing;

       

      (g) Taxes.
        All
        Taxes, fees and other amounts for which the Purchaser is responsible pursuant
        to
Sections 6.10(b),
        (c)
        and
(d);
        

       

      (h) Permitted
        Liens.
        All
        Liabilities under the Permitted Liens relating to the period after the
        Closing;
        

       

      (i) Environmental
        Liabilities.
        All
        Environmental Liabilities that are the responsibility of the Purchaser under
        Section
        12.9;
        and

       

      (j) Financial
        Assurance.
        All
        Liabilities with respect to financial assurance and any closure obligations
        under the Resource Conservation and Recovery Act (“RCRA”),
        or
        any state equivalent, related to (i) the Drum Storage Area, tank PR 202,
        tank
        PV-42 (to the extent operated after the Closing) and the Trilene Gel Tank,
        (ii)
        any other unit operated by the Purchaser and regulated under the RCRA Permit,
        a
        subsequent Permit issued pursuant to RCRA or interim status, including, for
        the
        avoidance of doubt, all financial assurance obligations associated with the
        closure of any such units pursuant to RCRA and (iii) any requirement to provide
        financial assurance for corrective obligations under the RCRA Permit, a
        subsequent Permit issued pursuant to RCRA or interim status to the extent
        of the
        Purchaser’s obligations under Section
        12.9
        (“Purchaser’s
        Financial Assurance Obligations”).

       

      2.6 Retained
        Obligations.
        Notwithstanding any other provision of this Agreement, except for the Assumed
        Obligations, the Purchaser shall not assume or otherwise be liable or
        responsible for any other Liabilities of the Sellers or their Affiliates
        (collectively, the “Retained
        Obligations”).
        Without limiting the generality of the foregoing, the Retained Obligations
        shall
        include the following:

       

      (a) Taxes.
        All
        Liabilities for Taxes imposed on or relating to the Business or the Assets
        for
        any taxable period or portion thereof ending prior to the Closing Date, and
        any
        Liabilities for Taxes imposed on or relating to any Seller for any period,
        except that Taxes governed by Sections 6.10(b),
        (c)
        and
(d)
        shall be
        allocated between the Sellers and the Purchaser as set forth
        therein;

       

      (b) Accounts
        Payable.
        All
        accounts and notes payable of the Business as of the Closing and all related
        accruals (“Accounts
        Payable”);

       

      (c) Pre-Closing
        Operation of the Business.
        Other
        than the Liabilities assumed by the Purchaser pursuant to Section 2.5,
        all
        Liabilities to the extent arising out of the ownership or operation of the
        Business or the Assets by any Seller or any of its Affiliates prior to the
        Closing;

       

      
        
          
          

        

        
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      (d) Employee
        Liabilities.
        All
        Liabilities of any Seller or any of its Affiliates to or with respect to
        its
        employees, including the Business Employees, except as provided in Article
        11
        or any
        Employee Exhibit.

       

      (e) Antitrust
        Proceedings.
        All
        Liabilities to the extent arising out of or related to private and governmental
        antitrust or competition law Proceedings arising out of the sale of any product
        or service related to the Business prior to the Closing, including those
        set
        forth on Schedule 4.12;

       

      (f) Sellers’
        Offsite Environmental Liabilities.
        All
        Sellers’ Offsite Environmental Liabilities;

       

      (g) Environmental
        Liabilities.
        All
        Environmental Liabilities that are the responsibility of the Sellers under
        Section
        12.9;

       

      (h) Financial
        Assurance.
        All
        Liabilities with
        respect to financial assurance and any closure obligations under RCRA, or
        any
        state equivalent, related to: (i) the Toluene Tar Tank, the incinerator,
        the
        Geismar Landfill, the UBOB tank, tank PV-42 (to the extent it is not operated
        after the Closing), including, for the avoidance of doubt, all financial
        assurance obligations associated with the closure of any such units pursuant
        to
        the RCRA, and (ii) any requirement to provide financial assurance for the
        corrective obligations under the RCRA Permit, a subsequent Permit issued
        pursuant to RCRA or interim status to the extent of the Seller’s obligations
        under Section
        12.9
        (“Sellers’
        Financial Assurance Obligations”);

       

      (i) Product
        Claims.
        Except
        to the extent specifically assumed by the Purchaser pursuant to Section 2.5(c)(ii)
        or
(iii),
        all
        Liabilities arising with respect to the services of the Business delivered
        or
        provided prior to the Closing and the products produced or sold by any Seller
        prior to the Closing and whether arising under warranty, contract, equity,
        tort,
        strict liability, product liability, statute or otherwise, but excluding
        Environmental Liabilities (the “Retained
        Product Claims”);

       

      (j) Excluded
        Assets.
        All
        Liabilities of any Seller or any of its Affiliates to the extent arising
        out of
        or related to the Excluded Assets; and

       

      (k) Monochem.
        Other
        than Liabilities assumed by the Purchaser pursuant to Section 2.5,
        all
        Liabilities of Monochem.

       

      2.7 Prorations.
        Each
        Seller and the Purchaser agree that all of the items listed below relating
        to
        the Business or the Assets will be prorated as of the Closing Date on a per
        diem
        basis, with the applicable Seller liable to the extent such items relate
        to any
        time period up to and including the Closing Date and the Purchaser liable
        to the
        extent such items relate to periods after the Closing Date (it being understood
        that the proration of Taxes is addressed in Section 6.10):

       

      (a) rents,
        license fees, registration fees and other items payable periodically under
        any
        Purchased Contract (any such amounts that are paid on a monthly basis shall
        be
        prorated solely for the month of Closing);

       

      
        
          
          

        

        
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      (b) the
        amount of any registration fees or similar charges which in any case are
        payable
        periodically by the applicable Seller with respect to any of the Assigned
        Permits (any such amounts that are paid on a monthly basis shall be prorated
        solely for the month of Closing); and

       

      (c) the
        amount of sewer rents and charges for water, electricity and other utilities
        and
        fuel (any such amounts that are paid on a monthly basis shall be prorated
        solely
        for the month of Closing).

       

      For
        the
        avoidance of doubt, no amount included within the Working Capital Adjustment
        Amount shall be included in the prorations pursuant to this Section 2.7.
        At
        least five Business Days prior to the Closing, the Sellers shall deliver
        to the
        Purchaser a written statement setting forth the actual (to the extent available
        at the Closing Date) or estimated amounts in respect of the items described
        above that are to be prorated as well as the Taxes that are to be prorated
        pursuant to Section 6.10
        (the
        aggregate of such actual amounts, after being agreed to by the Purchaser,
        being
        the “Closing
        Proration Amount”).
        On
        the Closing Date, Chemtura or the Purchaser, as applicable, shall pay to
        the
        other party the Closing Proration Amount. To the extent that the actual amounts
        for any items to be prorated are not available at the Closing Date, the
        proration of such amounts shall be calculated and appropriate adjustments
        shall
        be paid by Chemtura or the Purchaser, as applicable, as soon as reasonably
        practicable after the actual amounts become available. The Sellers and the
        Purchaser shall furnish each other with such documents and other records
        as may
        be reasonably requested in order to confirm all adjustments and proration
        calculations made pursuant to this Section 2.7.

       

      ARTICLE
        3.

      PURCHASE
        PRICE; ADJUSTMENT; ALLOCATION

       

      3.1 Payment
        of Purchase Price.

       

      (a) In
        addition to the assumption by the Purchaser of the Assumed Obligations, the
        Purchaser shall pay to Chemtura, in consideration for the Assets, a purchase
        price equal to the sum of the following (the “Purchase
        Price”):

       

      (i) an
        amount
        equal to (A) $162,500,000, less
        (B) the
        amount of the Factored Accounts Receivable (net of related reserves and VAT
        taxes) as reflected on the Estimated Closing Statement and discounted
        proportionately at an annual rate of seven percent (7%) from the scheduled
        payment dates set forth in the Accounts Receivable Note, in immediately
        available funds, subject to adjustment pursuant to Section 3.2
        (the
“Initial
        Purchase Price”);
        and

       

      (ii) a
        promissory note in original principal amount equal to the aggregate amount
        of
        all Accounts Payable as reflected on the Estimated Closing Statement issued
        by
        the Purchaser to Chemtura substantially in the form set forth in Exhibit
        K
        (the
“Accounts
        Payable Note”),
        such
        promissory note shall (1) have a term of 90 days, (2) be payable
        bi-weekly in equal installments, (3) be unsecured and (4) bear no
        interest.

       

      
        
          
          

        

        
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      (b) All
        payments made hereunder shall be made in accordance with Section 13.4
        and to
        such account or accounts as the receiving party shall designate in writing
        to
        the paying party not less than two Business Days prior to the applicable
        payment
        date.

       

      3.2 Purchase
        Price Adjustments. 

       

      (a) Capital
        Expenditures Adjustments.

       

      (i) If
        (A)
        the aggregate amount of actual capital expenditures made or accrued by the
        Business during the period beginning on January 1, 2007 and ending on the
        Closing Date is (B) less than the budgeted capital expenditures for the same
        period as set forth on the 2007 Budget, then (C) the Initial Purchase Price
        will
        be reduced by the amount of such deficiency.

       

      (ii) If
        (A)
        the capital expenditures made or accrued by the Business during the year
        ended
        December 31, 2006, determined in accordance with the Calculation Principles
        and
        as set forth on the Reconciliation, is (B) less than $7.5 million, then (C)
        the
        Initial Purchase Price will be reduced by the amount of such
        deficiency.

       

      (b) Additional
        Adjustments.
        The
        Initial Purchase Price shall be subject to further possible adjustments pursuant
        to Schedule
        3.2(b).
        

       

      (c) Working
        Capital Adjustment.

       

      (i) No
        more
        than five and no less than three Business Days prior to the Closing Date,
        the
        Sellers will prepare and deliver to the Purchaser a calculation and statement
        of
        the estimated Working Capital as of 12:00:01 a.m. (eastern time) on the Closing
        Date (the “Estimated
        Closing Statement”).
        The
        Sellers will prepare the Estimated Closing Statement in good faith, in
        accordance with the Calculation Principles, and using the same level of prudence
        as used in the preparation of the Audited Special Purpose Financial Statements,
        subject to the Purchaser’s good faith review and reasonable satisfaction. If the
        Working Capital as set forth on the Estimated Closing Statement (the
“Estimated
        Working Capital Amount”)
        is
        less than the Net Working Capital Threshold Amount, then the Initial Purchase
        Price will be reduced by the amount of such deficiency. If the Estimated
        Working
        Capital Amount is greater than the Net Working Capital Threshold Amount,
        then
        the Initial Purchase Price will be increased by the amount of such
        excess.

       

      (ii) As
        soon
        as practicable but in no event later than 90 days following the Closing Date,
        the Purchaser will prepare and deliver to Chemtura a calculation and statement
        of the Working Capital as of 12:00:01 a.m. (eastern time) on the Closing
        Date
        and the proposed Working Capital Adjustment Amount (the “Closing
        Statement”).
        In
        connection with the preparation of the initial draft of the Closing Statement
        and only if a shutdown of the Geismar Facility would not be reasonably required
        in connection therewith, Chemtura and the Purchaser (and, if desired, their
        respective outside experts) shall cooperate in taking a physical inventory
        of
        the Inventory located at the Geismar Facility on a date not earlier than
        three
        days prior to the Closing Date, and shall obtain confirmation letters from
        each
        location where Inventory was held as of the Closing Date. The Purchaser will
        prepare the Closing Statement in good faith in accordance with the Calculation
        Principles, applied in a consistent manner with, and using the same level
        of
        prudence as used in the preparation of, the Audited Special Purpose Financial
        Statements.

       

      
        
          
          

        

        
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      (iii) Chemtura
        shall review the initial draft of the Closing Statement during the 30-day
        period
        commencing on the date that Chemtura receives the initial draft of the Closing
        Statement. At or prior to the end of such 30 day period, Chemtura may deliver
        a
        notice to the Purchaser either:

       

      (A) confirming
        that no adjustments are proposed by Chemtura to the initial draft of the
        Closing
        Statement (a “Notice
        of Acceptance”);
        or

       

      (B) to
        the
        effect that Chemtura disagrees with the initial draft of the Closing Statement
        (a “Notice
        of Disagreement”),
        specifying the nature of such disagreement and the adjustments that Chemtura
        seeks to the initial draft of the Closing Statement (collectively, the
“Proposed
        Adjustments”).

       

      (iv) To
        the
        extent that there are any Proposed Adjustments, the Purchaser will, no later
        than 30 days after its receipt of the Proposed Adjustments, notify Chemtura
        which of the Proposed Adjustments it accepts (if any) and which of the Proposed
        Adjustments it rejects (if any). Chemtura and the Purchaser shall seek in
        good
        faith to resolve any differences that remain in relation to the Proposed
        Adjustments and to reach agreement in writing on any Proposed Adjustments
        not
        accepted by the Purchaser. If any of the Proposed Adjustments are not so
        resolved (the “Unresolved
        Adjustments”)
        within
        30 days after Chemtura’s receipt of the Purchaser’s notice relating to the
        Proposed Adjustments, the Unresolved Adjustments shall be submitted at the
        request of either Chemtura or the Purchaser to a mutually acceptable
        internationally recognized independent public accounting firm as shall be
        agreed
        upon by the parties hereto in writing (the “Accounting
        Firm”)
        for
        arbitration. The scope of the review by the Accounting Firm shall be limited
        to
        (i) a determination of whether the Unresolved Adjustments are appropriate
        taking into account the standards of preparation of the initial draft of
        the
        Closing Statement as set forth in Section 3.2(c)(ii)
        and (ii)
        based on its determinations of the matters described in clause
        (i)
        and
        taking into account the Proposed Adjustments previously accepted by the
        Purchaser, if any, the delivery of a final Closing Statement including the
        final
        Working Capital Adjustment Amount. The Accounting Firm is not to make or
        be
        asked to make any determination other than as set forth in the previous
        sentence. Chemtura and the Purchaser shall use commercially reasonable efforts
        to cause the Accounting Firm to render its written decision resolving the
        matters submitted to it as promptly as practicable after such submission
        of the
        Unresolved Adjustments. Judgment may be entered upon the determination of
        the
        Accounting Firm in any court having jurisdiction over the party against which
        such determination is to be enforced. The Purchaser shall bear and pay a
        portion
        of the fees and disbursements of the Accounting Firm determined by multiplying
        (1) the fees and disbursements of the Accounting Firm by (2) a quotient equal
        to
        (X) the total amount of the Proposed Adjustments that are ultimately applied
        to
        the Closing Statement, whether because such adjustment was accepted by the
        Purchaser or applied by the Accounting Firm in determining the final Closing
        Statement, divided by (Y) the total amount of the originally Proposed
        Adjustments. Chemtura shall bear the amount of the fees and disbursements
        of the
        Accounting Firm that are not the responsibility of the Purchaser as set forth
        in
        the preceding sentence. The fees and disbursements (if any) of the Purchaser’s
        outside experts incurred in connection with the preparation and certification
        of
        the initial draft of the Closing Statement and their review of any Proposed
        Adjustments or Unresolved Adjustments shall be borne by the Purchaser, and
        the
        fees and disbursements (if any) of Chemtura’s outside experts incurred in
        connection with their review of the draft Closing Statement and any Proposed
        Adjustments or Unresolved Adjustments shall be borne by Chemtura.

       

      
        
          
          

        

        
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      (v) The
        Closing Statement shall become final and binding on all parties, and shall
        have
        the effect of an arbitral award, upon the earliest of (i) the date that a
        Notice
        of Acceptance is delivered to the Purchaser pursuant to Section 3.2(c)(iii)(A)
        (in
        which case the final Working Capital Adjustment Amount shall be as set forth
        in
        the Closing Statement delivered pursuant to Section 3.2(c)(ii)),
        (ii)
        the date that is one day after the 30 day review period specified in
Section 3.2(c)(iii)
        has
        ended if no Notice of Disagreement has been delivered to the Purchaser pursuant
        to Section 3.2(c)(iii)(B)
        during
        such 30 day period (in which case the final Working Capital Adjustment Amount
        shall be as set forth in the Closing Statement delivered pursuant to
Section 3.2(c)(ii)),
        (iii)
        the date of an agreement in writing by the Sellers and the Purchaser that
        the
        Closing Statement, together with any modifications thereto agreed by the
        Sellers
        and the Purchaser, are final and binding (in which case the final Working
        Capital Adjustment Amount shall be as so agreed upon by the parties) and
        (iv)
        the date on which the Accounting Firm resolves in writing any disputed matters
        (in which case the final Working Capital Adjustment Amount shall be as
        determined by the Accounting Firm pursuant to Section 3.2(c)(iv)).

       

      (vi) Each
        of
        the Sellers, on the one hand, and the Purchaser, on the other hand, shall
        reasonably cooperate with each other and provide the other (and such other’s
        independent auditors) with reasonable access to any books, records, working
        papers and employees as the other may reasonably request, in each case in
        connection with the preparation and review of the Closing Statement pursuant
        to
        this Section 3.2(c).

       

      (vii) The
        Purchase Price shall be increased by the absolute value of the final Working
        Capital Adjustment Amount if the final Working Capital Adjustment Amount
        is
        positive and decreased by the absolute value of the final Working Capital
        Adjustment Amount if the final Working Capital Adjustment Amount is negative.
        If
        the final Working Capital Adjustment Amount is a negative number, the Sellers
        shall, within two Business Days after the Closing Statement becomes final
        and
        binding on the parties (as provided in Section 3.2(c)(v)),
        make
        payment by wire transfer in immediately available funds to one or more accounts
        designated by the Purchaser of the absolute value of such amount together
        with a
        sum equivalent to interest thereon at a rate equal to the LIBOR Rate, accrued
        from the Closing Date to and including the date of payment and calculated
        on the
        basis of the actual number of days elapsed divided by 360. If the final Working
        Capital Adjustment Amount is a positive number, the Purchaser shall, within
        two
        Business Days after the Closing Statement becomes final and binding on the
        parties (as provided in Section 3.2(c)(v)),
        make
        payment by wire transfer in immediately available funds to an account designated
        by Chemtura of the absolute value of such amount together with a sum equivalent
        to interest thereon at a rate equal to the LIBOR Rate, accrued from the Closing
        Date to and including the date of payment and calculated on the basis of
        the
        actual number of days elapsed divided by 360. “LIBOR
        Rate”
shall
        mean the closing rate of interest announced publicly by the British Bankers
        Association as its three month LIBOR rate for U.S. dollars on the Business
        Day
        preceding the date of determination, which for purposes of this Section 3.2(c)(vii)
        shall be
        the day the Closing Statement becomes final and binding on the parties (as
        provided in Section 3.2(c)(v)).
        The
        parties agree that any amounts paid pursuant to this Section 3.2(c)(vii)
        shall be
        allocated in a manner that is consistent with the allocation of the Purchase
        Price pursuant to Section 3.4.

       

      
        
          
          

        

        
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      3.3 Withholding.
        The
        Purchaser shall be entitled to deduct and withhold from the consideration
        otherwise payable pursuant to this Agreement to any Seller such amounts as
        the
        Purchaser is required to deduct and withhold under the Code, or any provision
        of
        state, local or foreign tax law, with respect to the making of such payment.
        To
        the extent that amounts are so withheld by the Purchaser, such withheld amounts
        shall be treated for all purposes of this Agreement as having been paid to
        the
        Seller in respect of whom such deduction and withholding was made by the
        Purchaser.

       

      3.4 Allocation
        of Consideration for Assets.
        Following the Closing, Chemtura and the Purchaser shall use commercially
        reasonable efforts to agree on an allocation of the Purchase Price, together
        with all Assumed Obligations assumed by Purchaser, among the Assets, the
        Accounts Receivable Note and the Purchaser’s Option in accordance with section
        1060 of the Code. If Chemtura and the Purchaser are not able to agree on
        such
        allocation prior to the date that is four months after the Closing Date,
        Chemtura and the Purchaser shall jointly retain an appraiser to value the
        Assets
        and prepare such allocation, with the cost of, and any expenses associated
        with,
        such appraisal to be borne fifty percent by the Sellers and fifty percent
        by the
        Purchaser. Following the final determination of the allocation, each of the
        Purchaser and the Sellers shall (and shall cause their respective Affiliates
        to)
        file all necessary Tax Returns and other forms (including Internal Revenue
        Service Form 8594) to report the transactions contemplated herein for U.S.
        federal, state, local and non-United States income Tax purposes in accordance
        with such allocation, and shall not take any position inconsistent with such
        allocation (or any adjustment to such allocation). Any adjustment to the
        Purchase Price for the Assets shall be allocated as provided in Treasury
        Regulation section 1.1060-1 and, in the event of such adjustment, the Purchaser
        and the Sellers agree to revise and amend such allocation and Form 8594 within
        30 days of such adjustment.
        Notwithstanding the foregoing, prior to the Closing, Chemtura and the Purchaser
        shall agree upon the portion of the Purchase Price to be allocated to the
        Transferred Owned Real Property (which allocation shall be comprised only
        of a
        portion of the Initial Purchase Price) so that the applicable Act of Cash
        Sale
        may reflect such amount and recite that it was received all in cash and for
        purposes of determining the fair market value of the Transferred Owned Real
        Property pursuant to Section
        6.17,
        and
        such allocation shall not be modified after the Closing without the prior
        written agreement of Chemtura and the Purchaser. 

       

      
        
          
          

        

        
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      ARTICLE
        4.

      REPRESENTATIONS
        AND WARRANTIES OF SELLERS

       

      The
        Sellers, jointly and severally, represent and warrant to the Purchaser as
        follows:

       

      4.1 Due
        Organization.
        Each
        Seller and the Chinese Joint Venture (a) is a corporation, limited
        liability company, limited liability corporation or private company with
        limited
        liability (as the case may be) duly organized, validly existing and, solely
        with
        respect to those of such entities that are domiciled in jurisdictions that
        recognize the concept of good standing, in good standing under the laws of
        the
        jurisdiction of its formation, (b) has the requisite power and authority to
        own, operate and lease its properties and to conduct its business as presently
        conducted, and (c) other than such jurisdictions in which the failure to be
        qualified or in good standing would not reasonably be expected to have a
        Business Material Adverse Effect, is duly qualified to do business and is
        in
        good standing as a foreign entity in each jurisdiction that recognizes the
        concept of good standing and in which its ownership of Assets and its historic
        conduct of the Business makes such qualification necessary. 

       

      4.2 Due
        Authorization.
        Each
        Seller has full corporate, limited liability company, limited liability
        corporation or private company with limited liability (as the case may be)
        power
        and authority to execute, deliver and perform this Agreement and its Related
        Agreements and to consummate the transactions contemplated hereby and thereby.
        The execution, delivery and performance by each Seller of this Agreement
        and its
        Related Agreements and the consummation by such Seller of the transactions
        contemplated hereby and thereby have been duly authorized by all necessary
        action, including the approval (if required) of the board of directors (or
        similar governing body) of such Seller. Each Seller has duly and validly
        executed and delivered this Agreement and, at or prior to the Closing, such
        Seller will have duly and validly executed and delivered each of its Related
        Agreements. Assuming the due authorization, execution and delivery of this
        Agreement and its Related Agreements by the Purchaser, this Agreement
        constitutes, and each Related Agreement will upon the Closing constitute,
        the
        legal, valid and binding obligation of each Seller party thereto, enforceable
        against it in accordance with its respective terms, subject to the
        Enforceability Limitations.

       

      4.3 Consents
        and Approvals; Authority Relative to this Agreement.

       

      (a) Except
        (i) for the Governmental Required Consents and (ii) as set forth on
Schedule 4.3(a),
        no
        material Consent of or with any Governmental Authority is necessary in
        connection with (1) the execution, delivery or performance of this Agreement
        by
        any Seller or of any of the applicable Related Agreements by any Seller or
        (2)
        the consummation of any of the transactions contemplated hereby or thereby
        by
        any Seller.

       

      (b) Other
        than in the cases of clauses (2) and (3) below, any such items that would
        not
        reasonably be expected to have a Business Material Adverse Effect, and except
        (i) as set forth on Schedule 4.3(a)
        or
Schedule
        4.3(b),
        and
        subject to obtaining the Governmental Required Consents, the execution, delivery
        and performance of this Agreement and of the applicable Related Agreements
        by
        each Seller, and the consummation of the transactions contemplated hereby
        and
        thereby by each Seller, do not and will not: (1) violate any material Law
        applicable to or binding on any Seller or any Assets; (2) constitute a
        breach or default of, or permit cancellation of, or result in the creation
        of
        any Lien upon any of the Assets, or result in or constitute a circumstance
        which, with or without notice or lapse of time or both, would constitute
        any of
        the foregoing under, any Purchased Contract or any Contract to which any
        Seller
        or the Chinese Joint Venture is a party or any Contract by which any Seller
        or
        the Chinese Joint Venture, or any of such Seller’s or the Chinese Joint
        Venture’s respective assets is bound or by which any of the Assets are bound;
        (3) permit the acceleration of the maturity of any indebtedness of any
        Seller or the Chinese Joint Venture or any of their respective Affiliates
        or
        indebtedness secured by any of their respective assets or any indebtedness
        secured by the Assets; or (4) violate or conflict with any provision of the
        certificate of
        incorporation or by-laws (or similar organizational documents) of any Seller
        or
        the Chinese Joint Venture. This Section
        4.3(b)
        does not
        apply to the Transferred
        Intellectual Property or
        the
        Purchased Contracts relating to the Transferred Intellectual
        Property.

       

      
        
          
          

        

        
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      4.4 Financial
        Statements.
        Schedule 4.4
        sets
        forth the unaudited special purpose financial statements of the Business
        (a) as of September 30, 2006 and for the nine-month period then ended (the
“2006
        Pre-Signing Financial Statements”),
        and
        (b) as of December 31, 2005 and for the year then ended, in each case
        together with any footnotes and schedules thereto (referred to collectively
        as
        the “Pre-Signing
        Financial Statements”).
        The
        Pre-Signing Financial Statements (i) were prepared from the books and
        records of the Sellers and the Business, (ii) fairly present, in all
        material respects, the net assets and revenues and expenses of the Business
        as
        of the dates and for the periods indicated therein, and (iii) were prepared
        in accordance with the Calculation Principles, except (A) as set forth in
        the footnotes thereto, and (B) that the interim Pre-Signing Financial
        Statements described in clause (a) above are subject to normal year-end
        adjustments.

       

      4.5 No
        Adverse Effects or Changes.
        Except
        (a) with respect to the Excluded Assets and the Retained Obligations,
        (b) as otherwise contemplated by this Agreement or (c) as set forth on
Schedule 4.5,
        since
        September 30, 2006, (i) the Business has not suffered any event which has
        had or would reasonably be expected to have a Business Material Adverse Effect
        and (ii) the Business has been conducted in the ordinary course and in
        substantially the same manner as previously conducted.

       

      4.6 Title
        to Assets.

       

      (a) Except
        as
        set forth on Schedule
        4.6,
        one or
        more of the Sellers has good and marketable title to, a valid and subsisting
        leasehold interest in or a valid right to use, each of the Assets free and
        clear
        of any Lien other than Permitted Liens, including on and as of the Closing
        Date,
        any Lien associated with the Receivables Securitization Agreements. Subject
        to
        obtaining and making all applicable Consents, each Seller (as applicable)
        has
        the right to sell, convey, transfer, assign and deliver the Assets owned,
        leased
        or used by it, as applicable, to the Purchaser and at the Closing such Seller
        shall convey to the Purchaser good and marketable title to, valid and subsisting
        leasehold interests in, or a valid right to use (as applicable), such Assets,
        free and clear of any Lien (other than Permitted Liens). This Section 4.6(a)
        does not
        apply to (a) title to Transferred Owned Real Property, which is addressed
        solely in Section 4.8
        and
        (b) title to Transferred Intellectual Property, which is addressed solely
        in Section 4.13.

       

      
        
          
          

        

        
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      (b) The
        Chinese Joint Venture has good and marketable title to, a valid leasehold
        interest in or a valid right to use, each of its assets, properties and rights
        free and clear of any Lien other than Permitted Liens (the “Chinese
        Joint Venture Assets”),
        including on and as of the Closing Date, any Lien associated with the
        Receivables Securitization Agreements.

       

      4.7 Assets.

       

      (a) Except
        as
        set forth on Schedule 4.7(a),
        the
        Assets and the Chinese Joint Venture Assets, together with the Group Contracts
        identified on Schedule 4.7(a),
        the PPD
        Equipment, the Retained PPD Inventory and the rights and services to be provided
        by the Sellers to the Purchaser under the Chemtura Master Supply Agreement,
        the
        Transition Services Agreement, the License Agreements and the Ground Lease,
        constitute all the properties, assets and rights necessary to operate the
        Business in all material respects as it is currently conducted by the Sellers
        and the Chinese Joint Venture. 

       

      (b) Except
        as
        set forth on Schedule 4.7(b),
        (i) the Assets located at the Geismar Facility and the Monochem Facility
        that are tangible personal property, buildings, structures, improvements
        or
        fixtures are, taken as a whole and having due regard for their age and length
        of
        use, in good repair and good operating condition, ordinary wear and tear
        excepted, and are suitable for use in the Business as currently conducted
        and
        (ii) the Chinese Joint Venture Assets that are tangible personal property,
        buildings, structures, improvements or fixtures are, taken as a whole and
        having
        due regard for their age and length of use, in good repair and good operating
        condition, ordinary wear and tear excepted, and are suitable for use in the
        Business as currently conducted. The parties acknowledge and agree that the
        Sellers’ financial obligations with respect to the repair, upgrade or
        replacement of any Assets disclosed on Part A of Schedule
        4.7(b) as
        exceptions to this Section
        4.7(b)
        shall be
        as set forth on Part B of Schedule
        4.7(b).
        

       

      4.8 Real
        Property.

       

      (a) Except
        as
        set forth on Schedule 4.8(a),
        the
        Transferred Owned Real Property is the only Real Property currently used
        by the
        Sellers or the Chinese Joint Venture in connection with the
        Business.

       

      (b) (i) Subject
        to the Permitted Liens, the applicable Seller has the right to sell, convey,
        transfer, assign and deliver the Transferred Owned Real Property to the
        Purchaser, and (ii) at the Closing such Seller shall sell, convey,
        transfer, assign and deliver to the Purchaser good and marketable fee simple
        title to and absolute ownership of each Transferred Owned Real Property with
        limited warranties of title and limited warranties of condition consistent
        with
        the warranties set forth herein, free and clear of all Liens and Encumbrances
        (other than the Permitted Liens and all easements, servitudes, rights of
        way or
        other agreements of record with respect thereto). For the avoidance of doubt,
        no
        Transferred Owned Real Property is or shall be, immediately following the
        consummation of the Closing, subject to any lease or option, other than the
        Option Agreement dated as of May 5, 1998 between Uniroyal Chemical Company,
        Inc.
        and Air Liquide America Corporation.

       

      
        
          
          

        

        
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      (c) Schedule 4.8(c)
        sets
        forth (i) a true and complete list of all Real Property leased by any Seller
        or
        the Chinese Joint Venture and used in connection with the Business or
        constituting a part of the Assets (the “Leased
        Real Property”)
        and
        (ii) a true and correct list of all leases pursuant to which any Seller or
        the
        Chinese Joint Venture leases the Leased Real Property. The Sellers have made
        available to the Purchaser a true and complete copy of each such
        lease.
        To the
        Sellers’ Knowledge, no material default exists under any of the leases
        associated with the Leased Real Property. The applicable Seller or the Chinese
        Joint Venture enjoys quiet and peaceful possession of all such Leased Real
        Property in which it is the tenant.

       

      4.9 Equipment;
        Leased Personal Property.

       

      (a) Schedule 4.9(a)
        includes
        a true and complete list by location of all of the equipment, machinery and
        other corporeal movables owned by a Seller and used or held for use primarily
        in
        the conduct of the EPDM Business and having an individual net book value
        in
        excess of $50,000.

       

      (b) Schedule 4.9(b)
        sets
        forth a true and complete list by location of all the equipment, machinery
        and
        other corporeal movables owned by a Seller or the Chinese Joint Venture and
        used
        or held for use primarily in the conduct of the Rubber Chemicals Business
        and
        having an individual net book value in excess of $50,000, other than the
        PPD
        Equipment.

       

      (c) Schedule 4.9(c)
        sets
        forth a true and complete list by location of the PPD Equipment
        having
        an individual net book value in excess of $50,000.

       

      (d) Schedule 4.9(d)
        sets
        forth a list of each lease to which any Seller or the Chinese Joint Venture
        is a
        party with respect to tangible personal property used or held for use primarily
        in the conduct of the Business having aggregate remaining minimum lease payments
        in excess of $50,000. The Sellers have made available to the Purchaser true
        and
        complete copies of all the tangible personal property leases set forth on
        Schedule 4.9(d)
        (excluding tangible personal property leases that the Sellers have provided
        in
        redacted form or determined to withhold, in each case due to confidentiality
        restrictions, and which tangible personal property leases are described on
        Schedule 4.9(d)).

       

      (e) The
        spare
        parts constituting a part of the Assets and those constituting a part of
        the
        Chinese Joint Venture Assets are in quantities reasonably sufficient to conduct
        the continuing operations of the Business (taking into account the matters
        described in Schedule
        4.9(e)).

       

      4.10 Customers
        and Suppliers.
        Except
        as set forth on Schedule 4.10(a),
        to the
        Sellers’ Knowledge, there is no material dispute that relates to the Business
        between any Seller or the Chinese Joint Venture (on the one hand) and any
        Material Customer of or Material Supplier to such Seller or the Chinese Joint
        Venture (on the other hand). To the Sellers’ Knowledge, since January 1, 2006,
        and except for the expiration of any Purchased Contract in accordance with
        its
        terms, no Material Customer or Material Supplier has notified any of the
        Sellers
        or the Chinese Joint Venture in writing that it has cancelled or otherwise
        terminated its relationship with the Business or materially and adversely
        reduced the level of business done with the Business, either as a result
        of the
        transactions contemplated hereby or otherwise. “Material
        Customer”
shall
        mean the 20 largest customers of each of the EPDM Business and the Rubber
        Chemicals Business and the four largest customers of the Monochem Business
        (in
        each case as measured by Dollar amounts of purchases of products or services
        from each such business) during fiscal year 2006 to date, as set forth on
        Schedule
        4.10(b).
        “Material
        Supplier”
shall
        mean the 10 largest suppliers of each of the EPDM Business and the Rubber
        Chemicals Business at the Geismar Facility and the seven largest suppliers
        of
        the Monochem Business (in each case as measured by Dollar amounts paid by
        each
        such business for products or services) during fiscal year 2006 to date,
        as set
        forth on Schedule
        4.10(b).

       

      
        
          
          

        

        
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      4.11 Accounts
        Receivable.

       

      (a) Except
        as
        set forth on Schedule
        4.11(a),
        all
        Accounts Receivable that are reflected on the most recent Pre-Signing Financial
        Statements, to the extent uncollected as of the date hereof, and the Accounts
        Receivable reflected, since the date of the most recent Pre-Signing Financial
        Statements, on the books of the Business are valid and existing and reflect
        amounts due arising from bona fide sales actually made or bona fide services
        actually performed by one or more of the Sellers or the Chinese Joint Venture
        in
        the ordinary course of business. Schedule 4.11(a)
        contains
        a correct and complete aging schedule as of September 30, 2006 of all Accounts
        Receivable. The reserve for doubtful accounts on the most recent Pre-Signing
        Financial Statements has been calculated generally in accordance with the
        Calculation Principles. To the Sellers’ Knowledge, as of the date of this
        Agreement, there are no facts or circumstances that could reasonably be expected
        to result in any material increase in the uncollectibility or delinquency
        in
        payment of the Accounts Receivable as a class in excess of the reserves therefor
        set forth on the most recent Pre-Signing Financial Statements.

       

      (b) Schedule 4.11(b)
        identifies all unreturned security deposits and other deposits made by, or
        held
        by, any Person with respect to the Business for the benefit of any Seller
        or the
        Chinese Joint Venture that are reflected on the most recent Pre-Signing
        Financial Statements and any made since September 30, 2006, in each case
        as of
        the date of this Agreement. Neither any Seller nor the Chinese Joint Venture
        is
        holding any security deposits with respect to the Business for the benefit
        of
        any other Person.

       

      4.12 Proceedings.
        Except
        as set forth on Schedule 4.12,
        as of
        the date of this Agreement, there are no Proceedings pending or, to the Sellers’
Knowledge, threatened against any Seller or the Chinese Joint Venture that
        relate to the Business or any Asset before any arbitrator, court or other
        Governmental Authority, in each case which, if adversely determined, would
        (a)
        be reasonably likely to have a Business Material Adverse Effect, (b) be
        reasonably likely to result in damages over $100,000 or
        (c)
        enjoin or otherwise prohibit or restrict any of the transactions contemplated
        by
        this Agreement. Except as set forth on Schedule 4.12,
        the
        operation of the Business by each Seller and the Chinese Joint Venture is
        not
        subject to any order, judgment, decree, injunction, stipulation or consent
        order
        of or with any arbitrator, court or other Governmental Authority, other than
        any
        such orders having application to industry-wide matters. Neither any Seller
        (in
        relation to its conduct of the Business) nor the Chinese Joint Venture has
        entered into any agreement to settle or compromise any Proceeding pending
        or
        threatened against it which has involved any obligation other than the payment
        of money and for which it has any continuing obligation.

       

      
        
          
          

        

        
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      4.13 Intellectual
        Property.

       

      (a) Schedule 4.13(a)
        sets
        forth a true and complete list of all patents and patent applications and
        all
        registrations and applications for registrations for all Intellectual Property
        owned by any Seller or the Chinese Joint Venture and that are used in or
        necessary for the conduct of the Business (the “Registered
        Intellectual Property”).

       

      (b) Schedule 4.13(b)(i)
        sets
        forth a true and complete list of all licenses and other Contracts, other
        than
“off the shelf” commercially available software programs purchased or licensed
        for less than $100,000 in the aggregate, pursuant to which any Seller or
        the
        Chinese Joint Venture licenses from a third party Intellectual Property used
        in
        the conduct of the Business (the “Material
        Licenses”).
        Schedule 4.13(b)(ii)
        sets
        forth a true and complete list of all licenses and other Contracts pursuant
        to
        which any Seller or the Chinese Joint Venture licenses to a third party any
        Transferred Intellectual Property (the “Outbound
        Licenses”).
        The
        Sellers have made available to the Purchaser a true and complete copy of
        each of
        the Material Licenses and the Outbound Licenses (excluding Material Licenses
        and
        Outbound Licenses that the Sellers have provided in redacted form or determined
        to withhold, in each case due to confidentiality restrictions or because
        such
        licenses relate to Other Chemtura Businesses). To the Sellers’ Knowledge, the
        Material Licenses and Outbound Licenses are in full force and effect, and
        neither any Seller nor the Chinese Joint Venture has taken any action or
        failed
        to take any action that would constitute a breach of any Material Licenses
        or
        Outbound Licenses. Except as set forth on Schedule 4.13(b)(iii),
        neither
        any Seller nor the Chinese Joint Venture pays any royalty or other compensation
        to any Person for the right to use any Intellectual Property that is material
        to
        the Business.

       

      (c) Except
        as
        set forth on Schedule 4.13(c):

       

      (i) to
        the
        Sellers’ Knowledge, the use of the Transferred Intellectual Property as
        currently used by the Sellers in the conduct of the Business or by any party
        who
        is a licensee under such Transferred Intellectual Property from any Seller,
        and
        the conduct of the Business as conducted by the Sellers for the 12 months
        preceding the date hereof, does not infringe, dilute, misappropriate or
        otherwise violate the Intellectual Property rights of any other
        Person;

       

      (ii) to
        the
        Sellers’ Knowledge, the use of the Chinese Joint Venture Intellectual Property
        by the Chinese Joint Venture in the conduct of its business or by any party
        who
        is a licensee under such Chinese Joint Venture Intellectual Property from
        the
        Chinese Joint Venture, and the conduct of the Business as conducted by the
        Chinese Joint Venture for the 12 months preceding the date hereof, does not
        infringe, dilute, misappropriate or otherwise violate the Intellectual Property
        rights of any other Person;

       

      
        
          
          

        

        
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      (iii) no
        Proceedings have been instituted and are pending and neither any Seller nor
        the
        Chinese Joint Venture has received a written notice or threat from any Person
        which: (A) assert an ownership interest in any Transferred Intellectual Property
        or any Chinese Joint Venture Intellectual Property, (B) allege that the conduct
        of the Business by any Seller or the Chinese Joint Venture violates any rights
        relating to Intellectual Property of any Person or (C) challenge the validity
        or
        enforceability of the Transferred Intellectual Property; and to Seller’s
        Knowledge, no basis for any of the foregoing exists;

       

      (iv) the
        Sellers are the sole and exclusive owners of the Transferred Intellectual
        Property, free and clear of any Lien other than Permitted Liens;

       

      (v) Subject
        to obtaining and making all applicable Consents, each Seller (as applicable)
        has
        the right to sell, convey, transfer, assign and deliver the Transferred
        Intellectual Property and the Purchased Contracts related to the Transferred
        Intellectual Property to the Purchaser and at the Closing such Seller shall
        convey to the Purchaser good and marketable title to such Transferred
        Intellectual Property and the Purchased Contracts related to the Transferred
        Intellectual Property, free and clear of any Lien (other than Permitted
        Liens).

       

      (vi) the
        Chinese Joint Venture is the sole and exclusive owner of the Chinese Joint
        Venture Intellectual Property, free and clear of any Lien other than Permitted
        Liens;

       

      (vii) the
        Sellers and the Chinese Joint Venture have taken reasonable measures to protect
        the confidentiality of the trade secrets and confidential information with
        respect to the Transferred Intellectual Property and the Chinese Joint Venture
        Intellectual Property, respectively; and

       

      (viii) neither
        any Seller nor the Chinese Joint Venture has filed any Proceeding or sent
        any
        written notice of a violation, infringement, misuse or misappropriation by
        any
        Person of Sellers’ rights to, or in connection with, the Transferred
        Intellectual Property or the Chinese Joint Venture Intellectual Property
        and, to
        the Sellers’ Knowledge, none of the Transferred Intellectual Property or the
        Chinese Joint Venture Intellectual Property is being infringed, diluted,
        misappropriated or otherwise violated by any Person. With respect to the
        Registered Intellectual Property, all fees, including registration, maintenance
        and renewal fees, that were due and payable to any applicable United States
        or
        other Governmental Authority have been paid.

       

      (d) The
        Transferred Intellectual Property together with the Intellectual Property
        licensed to the Purchaser under the License Agreements constitute all of
        the
        Intellectual Property necessary for the conduct of the Business as it is
        presently conducted.

       

      (e) Other
        than the Governmental Required Consents, no Consent of or with any Governmental
        Authority is necessary in connection with (i) the assignment of the Transferred
        Intellectual Property and the Purchased Contracts relating to Intellectual
        Property contemplated in this Agreement or (ii) the execution, delivery or
        performance of the License Agreements by any Seller.

       

      
        
          
          

        

        
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      (f) The
        assignment of the Transferred Intellectual Property and the Purchased Contracts
        relating to Intellectual Property as contemplated in this Agreement, and
        the
        execution, delivery or performance of the License Agreements by any Seller,
        and
        the execution and performance by Chemtura under the Chemtura Master Supply
        Agreement, including the granting of the licenses contained therein by the
        Purchaser to Chemtura, do not and will not: (i) violate any Law applicable
        to or
        binding on any Seller or any of the Transferred Intellectual Property, any
        Purchased Contracts relating to Intellectual Property or the License Agreements;
        (ii) constitute a breach or default of, or permit cancellation of, or result
        in
        the creation of any Lien upon any of the Transferred Intellectual Property,
        any
        Purchased Contracts relating to Intellectual Property or the License Agreements,
        or result in or constitute a circumstance which, with or without notice or
        lapse
        of time or both, would constitute any of the foregoing under any Purchased
        Contract relating to Intellectual Property or by which any of the Transferred
        Intellectual Property is bound; (iii) permit the acceleration of the maturity
        of
        any indebtedness of any Seller or any of its respective Affiliates secured
        by
        the Transferred Intellectual Property or any Purchased Contracts relating
        to
        Intellectual Property or (iv) violate or conflict with any provision of the
        certificate of incorporation or by-laws (or similar organizational documents)
        of
        any Seller.

       

      (g) The
        Sellers and the Chinese Joint Venture are in compliance in all material respects
        with all Laws applicable to or binding on them or any of the Transferred
        Intellectual Property, the Chinese Joint Venture Intellectual Property and
        the
        Purchased Contracts relating to Intellectual Property.

       

      (h) Except
        as
        set forth on Schedule 4.13(h),
        the
        Inventory is not subject to any agreement pursuant to which any Seller (or
        following the Closing, the Purchaser) is authorized to use any Intellectual
        Property in connection with the manufacture, marketing, sale or other
        distribution or disposition of any Inventory or other agreement that limits,
        conditions or restricts any Seller’s or the Chinese Joint Venture’s (or upon and
        following the consummation of the Closing, the Purchaser’s) right to sell or
        otherwise dispose of such Inventory. No Inventory is the subject of any
        Intellectual Property Claim.

       

      4.14 Contracts.

       

      (a) Schedule 4.14(a)
        is a
        true and complete list, as of the date of this Agreement, of all the Contracts
        of the following types to which (1) any Seller or the Chinese Joint Venture
        is a
        party (but only if such Contract primarily relates to the Business) or (2)
        any
        of the Assets is subject:

       

      (i) any
        collective bargaining agreement;

       

      (ii) any
        Contract with any Business Employee (other than a Non-U.S. Employee) related
        to
        the terms and conditions of employment, other than a Contract on the Sellers’
standard
        form Contract
        with Business Employees related to the terms and conditions of employment
        previously made available to the Purchaser and other than Benefit Plans and
        Benefit Programs;

       

      
        
          
          

        

        
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      (iii) the
        Sellers’ standard form Contract under which any Business Employee (other than a
        Non-U.S. Employee) has any obligation to any Seller to refrain from competing
        with the Business or to keep information regarding the Business
        confidential;

       

      (iv) any
        Contract pursuant to which any Seller has made or will make loans or advances,
        or has incurred, or is obligated to incur (whether on an absolute or contingent
        basis), indebtedness for borrowed money or has become a guarantor or surety
        or
        pledged its credit for or otherwise become responsible for or is otherwise
        liable for or obligated with respect to any undertaking of another Person
        (except for endorsements for collection or deposit of negotiable instruments
        in
        transactions in the ordinary course of business);

       

      (v) any
        Contract with (A) any Affiliate of any Seller (including any Contract between
        one or more Sellers and the Chinese Joint Venture but excluding any contract
        with or relating to any Seller Plan) or (B) any officer or director of any
        Seller or the Chinese Joint Venture (other than employment agreements or
        similar
        arrangements relating to their employment);

       

      (vi) any
        Contract (including a purchase order) with any customer or supplier with
        whom
        the Sellers or the Chinese Joint Venture have entered into Contracts (including
        purchase orders) which, in the aggregate, have or are expected to have a
        commitment of more than $250,000 on an annual basis;

       

      (vii) any
        Contract involving a partnership, joint venture or other cooperative undertaking
        or other arrangement involving a sharing of profits or expenses;

       

      (viii) any
        Contract involving any non-competition or similar restrictions binding on
        any
        owner of the Business, including with respect to the geographical area of
        operations or scope or type of business of any owner of the
        Business;

       

      (ix) any
        Contract for any capital expenditures or leasehold improvements involving
        the
        payment of more than $100,000;

       

      (x) any
        Contract that, if terminated prior to its expiration in accordance with its
        terms, would reasonably be expected to have a Business Material Adverse
        Effect;

       

      (xi) any
        Contract that imposes or evidences any Lien for borrowed money or material
        Lien
        (other than a Permitted Lien) on any of the Assets.

       

      (xii) any
        consignment Contract;

       

      
        
          
          

        

        
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      (xiii) any
        lease
        with respect to Real Property or any of the other material Assets;

       

      (xiv) any
        Contract to sell, lease or dispose of any Asset, in each case other than
        in the
        ordinary course of business or in connection with the matters described in
        Schedule
        4.9(e);

       

      (xv) any
        Contract for storage, processing, terminalling, delivery, shipment or
        transportation of Assets, including any Contract with any warehouseman,
        processor or bailee;

       

      (xvi) any
        sales
        agency, sales representative, distributorship or marketing
        Contract;

       

      (xvii) any
        other
        Contract providing for future payments by any Seller or the Chinese Joint
        Venture in excess of $100,000 on an annual basis that cannot be terminated
        upon
        90 days’ notice by such Seller or the Chinese Joint Venture (and, following the
        Closing, by the Purchaser) without penalty or premium; and

       

      (xviii) any
        other
        Contract entered into outside the ordinary course of business the absence
        of
        which would have a Business Material Adverse Effect.

       

      (b) The
        Sellers have made available to the Purchaser a true and complete copy of
        each
        Contract or form of Contract that is listed on Schedule 4.14(a)
        (the
“Material
        Contracts”)
        (excluding Contracts that the Sellers have provided in redacted form or
        determined to withhold, in each case due to confidentiality restrictions
        or
        because such Contracts relate to Other Chemtura Businesses). Except as set
        forth
        on Schedule 4.14(b),
        to the
        Sellers’ Knowledge, the Material Contracts are in full force and
        effect.

       

      4.15 Permits.
        Except
        as
        set forth on Schedule
        4.15,
        each
        Seller and the Chinese Joint Venture possesses or has applied for all material
        Permits required by applicable Law for such Seller or the Chinese Joint Venture
        to conduct the Business as currently conducted. Schedule 4.15
        is a
        true and complete list of all Permits (other than Environmental Permits)
        held by
        the Sellers and the Chinese Joint Venture in connection with the Business
        and
        material to the operation of the Business. Except as set forth on Schedule
        4.15,
        each
        Seller and the Chinese Joint Venture is and has been for the 12 months preceding
        the date hereof in material compliance with all Permits held in connection
        with
        the Business applicable to or binding on it or any of its Assets, and since
        January 1, 2006, neither any Seller nor the Chinese Joint Venture has received
        any written notice from a Governmental Authority that (i) alleges that any
        Seller or the Chinese Joint Venture is not in material compliance with any
        Permit or (ii) alleges that any Seller or the Chinese Joint Venture does
        not possess any Permit required by applicable Law for such Seller to conduct
        the
        Business as currently conducted. This Section 4.15
        does not
        relate to the Environmental Permits, which are addressed in Section 4.21.

       

      4.16 Inventory.

       

      (a) The
        Inventory reflected in the most recent Pre-Signing Financial
        Statements is
        fairly
        valued in accordance with the Calculation Principles. The Inventory, taken
        as a
        whole, consists of a quality and is in quantities sufficient and reasonable
        for
        the operation of the Business as contemplated by the 2007 Budget. Finished
        goods
        constituting Inventory are saleable in the ordinary course of business except
        for obsolete items and items of below-standard quality all of which will
        at the
        Closing have been written down to net realizable value on the Estimated Closing
        Statement. The inventory obsolescence policies of the Sellers and the Chinese
        Joint Venture with respect to the Business are appropriate for the nature
        of the
        products sold. Schedule
        4.16(a)
        sets
        forth a list of the places where Inventories were located as of the date
        indicated therein, which is in each case within five Business Days of the
        date
        hereof.

       

      
        
          
          

        

        
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      (b) Except
        pursuant to the Purchased Contracts set forth on Schedule
        4.16(b),
        no
        Inventory is consigned to any Person.

       

      (c) Except
        pursuant to the Purchased Contracts set forth on Schedule
        4.16(c),
        no
        inventory is held by any Seller on consignment from any Person or subject
        to any
        sale-or-return, sale-on-approval or repurchase agreement with any
        supplier.

       

      (d) Except
        as
        set forth on Schedule
        4.16(d),
        all of
        the Inventory is in the physical possession of a Seller, located in a warehouse
        or a similar facility or is in transit to or from a customer or supplier
        of a
        Seller or from a warehouse or such similar facility.

       

      4.17 Benefit
        Plans.

       

      (a) Schedule 4.17(a)
        lists
        each of the following which is sponsored, maintained or contributed to by
        the
        Sellers or any of their ERISA Affiliates for the benefit of Business Employees
        (other than any Non-U.S. Employees), other than any Foreign Benefit Plans
        (except as provided in Section
        4.17(c)
        below).
        To the extent applicable, all matters relating to Non-U.S. Employees and
        Foreign
        Benefit Plans are set forth in Exhibit
        China,
        Section
        11.7
        and
Schedule
        11.7,
        or,
        with respect to other Non-U.S. Employees and Foreign Benefit Plans, will
        be
        addressed in accordance with Section
        11.3.
         

       

      (i) each
        “employee benefit plan,” as such term is defined in section 3(3) of ERISA
        (“Benefit
        Plan”);
        and

       

      (ii) each
        written personnel policy pertaining to compensation and benefits matters,
        written stock option plan, stock purchase plan, stock appreciation rights
        arrangement, phantom stock plan, collective bargaining agreement, bonus plan
        or
        arrangement, incentive award plan or arrangement, vacation policy, severance
        pay
        plan, policy or agreement, deferred compensation agreement or arrangement,
        executive compensation or supplemental income arrangement, severance agreement,
        change in control agreement and each other employee benefit plan, agreement,
        arrangement, program, practice or understanding which is not described in
        Section 4.17(a)(i)
        (each a
“Benefit
        Program”).

       

      (b) True,
        correct and complete copies of each of the Benefit Plans and Benefit Programs,
        including all amendments thereto, have been made available to the
        Purchaser.

       

      
        
          
          

        

        
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      (c) Each
        Benefit Plan, Benefit Program and Foreign Benefit Plan complies with and
        has
        been administered in form and in operation in all material respects in
        accordance with its terms and will all applicable requirements of
        Law.

       

      (d) As
        to any
        employee benefit plan subject to Title IV of ERISA sponsored, maintained
        or
        contributed to by the Sellers or any of their ERISA Affiliates (collectively,
        the “ERISA
        Group”)
        for
        the benefit of the employees of the ERISA Group or former employees of the
        ERISA
        Group or which has been so sponsored, maintained or contributed to within
        six
        years prior to the Closing Date for the benefit of such individuals (a
“Title
        IV Plan”),
        there
        has been no event or condition which presents the risk of plan termination,
        no
        accumulated funding deficiency, whether or not waived, within the meaning
        of
        section 302 of ERISA or section 412 of the Code has been incurred, no reportable
        event within the meaning of section 4043 of ERISA (for which the disclosure
        requirements of Regulation section 4043.1 et seq.,
        promulgated by the Pension Benefit Guaranty Corporation (“PBGC”)
        have
        not been waived) has occurred, no notice of intent to terminate the Title
        IV
        Plan has been given under section 4041 of ERISA, no proceeding has been
        instituted under section 4042 of ERISA to terminate the Title IV Plan, and
        no
        liability to the PBGC has been incurred (other than premiums incurred in
        the
        normal operation of such employee benefit plans);

       

      (e) With
        respect to any Title IV Plan, no withdrawal liability, within the meaning
        of
        section 4201 of ERISA, has been incurred, which withdrawal liability has
        not
        been satisfied, and all contributions (including installments) to such plan
        required by section 302 of ERISA and section 412 of the Code have been timely
        made.

       

      4.18 Employment
        and Labor Matters.

       

      (a) The
        Sellers have made available to the Purchaser a true and complete list of
        Business Employees as of February
        2, 2007 containing, for each Business Employee, the job title or position,
        date
        of commencement of employment or engagement, current compensation including
        bonus eligibility percentage and sick and paid-time-off and vacation leave
        that
        is accrued or credited but unused or unpaid as of the date on which the list
        described herein was completed. There is, and since January 1, 2005 there
        has
        been, no labor strike, material labor dispute, material labor slow-down,
        material work stoppage pending or, to the Sellers’ Knowledge, threatened,
        against any Seller or the Chinese Joint Venture and relating to the Business.
        None of the Business Employees are covered by any collective bargaining
        agreement and, to the Sellers’ Knowledge, no representation petition has been
        filed by any such employee and is pending before the National Labor Relations
        Board (or any similar non-U.S. Governmental Authority) and, since January
        1,
        2005, to the Sellers’ Knowledge no union organizing campaign with respect to the
        Business has been in progress or has been threatened.

       

      (b) With
        regard to the Business Employees, the Sellers and the Chinese Joint Venture
        are
        in compliance in all material respects with all applicable Laws relating
        to
        employment and employment practices, terms and conditions of employment,
        and
        wages and hours, and, to the Sellers’ Knowledge, are not engaged in any unfair
        labor practice or unlawful employment practice. In addition, there are no
        material pending or unremedied grievances, or material pending or unremedied
        unfair labor practice charges, or material pending or unremedied arbitration
        proceedings against any Seller or the Chinese Joint Venture with respect
        to the
        Business.

       

      
        
          
          

        

        
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      (c) With
        regard to the Business Employees, the Sellers and the Chinese Joint Venture
        have
        not received written notice of any material charge or complaint since January
        1,
        2005 before the Equal Employment Opportunity Commission or the Department
        of
        Labor or any state, local or foreign agency of similar jurisdiction relating
        to
        the Sellers, and the Sellers and the Chinese Joint Venture have not, to the
        Sellers’ Knowledge, received any notice of any such material threatened charge
        or complaint against any Seller before the Equal Employment Opportunity
        Commission or the Department of Labor or any state, local or foreign agency
        of
        similar jurisdiction relating to the Sellers or the Chinese Joint
        Venture.

       

      (d) With
        regard to the Business Employees, the Sellers and the Chinese Joint Venture
        have
        not received written notice of any material complaint or claim since January
        1,
        2006 from any Business Employee that has been or will be filed in any federal,
        state, city or foreign court of competent jurisdiction arising out of the
        employment with or separation of employment from the Sellers or the Chinese
        Joint Venture.

       

      4.19 Taxes.
        Except
        as otherwise set forth on Schedule 4.19:

       

      (a) All
        material Tax Returns with respect to the Assets or the Business that are
        required to be filed before the Closing Date have been or will be timely
        filed,
        the information provided on such Tax Returns is or will be complete and accurate
        in all material respects, and all Taxes shown to be due on such Tax Returns
        have
        been or will be paid in full, to the extent that a failure to file such Tax
        Returns or pay such Taxes, or an inaccuracy in such Tax Returns, as applicable,
        would reasonably be expected to result in Purchaser being liable for such
        Taxes
        or would reasonably be expected to give rise to a Lien on the Assets. There
        are
        no currently pending or, to the Sellers’ Knowledge, threatened, audits,
        administrative or judicial proceedings, or any deficiency or refund litigation,
        with respect to Taxes (i) that could affect the Assets or the Business after
        the
        Closing or (ii) of the Chinese Joint Venture.

       

      (b) All
        material federal, state and foreign Tax Returns required to be filed by or
        for
        the Chinese Joint Venture in respect of Taxes have been timely filed. Each
        such
        Tax Return is true and correct in all material respects. All Taxes owed by
        or
        with respect to the Chinese Joint Venture have been timely paid.

       

      (c) The
        Chinese Joint Venture has not granted (and is not subject to) any waiver
        or
        extension that is currently in effect of the period of limitations for the
        assessment or payment of any Taxes or the filing of any Tax Return. No material
        unpaid Tax assessment, deficiency or adjustment has been assessed or asserted
        in
        writing against or with respect to the Chinese Joint Venture by any Governmental
        Authority.

       

      (d) The
        Chinese Joint Venture will not be required to include any amount in income
        for
        any Taxable period ending on or after the Closing Date as a result of a change
        in accounting method for any Taxable period ending before the Closing
        Date or
        pursuant to any agreement with any Governmental Authority with respect to
        any
        such Taxable period. The Chinese Joint Venture will not be required to include
        in any period ending after the Closing Date any income that accrued in a
        prior
        period but was not recognized in any prior period as a result of the installment
        method of accounting, the completed contract method of accounting, the long-term
        contract method of accounting, the cash method of accounting, or
        otherwise.

       

      
        
          
          

        

        
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      (e) The
        Chinese Joint Venture is not a party to or does not have any obligation under
        any tax-sharing, tax indemnity or tax allocation agreement or similar
        arrangement, nor does the Chinese Joint Venture have any Liability or potential
        Liability to another party under any such agreement or arrangement.

       

      (f) The
        Chinese Joint Venture has not executed or entered into with the IRS, or any
        other Governmental Authority, a closing agreement pursuant to section 7121
        of
        the Code or any similar provision of state, local, foreign or other Tax law,
        that will require any increase in taxable income, or any reduction in Tax
        deductions or Tax credits for, the Chinese Joint Venture for any Taxable
        period
        ending after the Closing Date.

       

      (g) No
        Seller
        that is a foreign person within the meaning of section 1445(f)(3) of the
        Code is
        transferring a “United States real property interest” within the meaning of
        section 897(c) of the Code.

       

      (h) The
        Chinese Joint Venture is, and at all times since its inception has been,
        classified as an association taxable as a corporation for U.S. federal income
        tax purposes under Treasury Regulation section 301.7701-3(b).

       

      4.20 No
        Defaults or Violations.

       

      (a) Except
        as
        set forth on Schedule 4.20,
        since
        January 1, 2006, none of the Sellers nor the Chinese Joint Venture has breached
        the provisions of, and none of the Sellers nor the Chinese Joint Venture
        is in
        default under the terms of or has triggered any termination rights under
        or
        obligation to deliver any collateral, credit support, advance payment or
        adequate assurances under, any Material Contract and, to the Sellers’ Knowledge,
        no other party to any such Material Contract has, since January 1, 2006,
        breached any material provision thereof or is in material default thereunder
        or
        has triggered any termination rights thereunder or obligation to deliver
        any
        collateral, credit support, advance payment or adequate assurances
        thereunder.

       

      (b) Excluding
        (i) matters relating to Taxes, which are addressed in Section 4.19,
        (ii)
        environmental matters, which are addressed in Section 4.21,
        (iii) Intellectual Property matters, which are addressed in Section 4.13,
        (iv) matters relating to Permits, which are addressed in Section 4.15,
        and
        (v) employee benefits and employee matters, which are addressed in
Sections 4.17
        and
4.18
        or the
        Employee Exhibits, the Sellers (in relation to the Business) and the Chinese
        Joint Venture are in compliance in all material respects with all Laws
        applicable to or binding on them or any of the Assets or the Chinese Joint
        Venture Assets and, since January 1, 2006, neither any Seller (in relation
        to
        the Business) nor the Chinese Joint Venture has received any written notice
        from
        a Governmental Authority that alleges that any Seller or the Chinese Joint
        Venture is not in compliance in all material respects with any Law applicable
        to
        the conduct of the Business.

       

      
        
          
          

        

        
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      4.21 Environmental
        Matters. Except
        as
        set forth on Schedule
        4.21:

       

      (a) The
        Sellers (in relation to the Geismar Facility, the Monochem Facility and the
        Business) and the Chinese Joint Venture are in compliance with all applicable
        Environmental Laws.

       

      (b) Schedule
        4.21(b)
        is a
        true and complete list of all Environmental Permits held by the Sellers and
        the
        Chinese Joint Venture in connection with the operation of the Business. The
        Sellers and the Chinese Joint Venture are in possession of all Environmental
        Permits required for their operation of the Business and are in compliance
        with
        all of the requirements and limitations included in such Environmental
        Permits.

       

      (c) Each
        Seller and the Chinese Joint Venture has timely filed applications for the
        renewal of such Environmental Permits as may be necessary. There are no facts,
        circumstances or conditions that could reasonably be expected to lead to
        the
        revocation or denial of applications for the renewal of such Environmental
        Permits on terms less favorable than what are currently in effect. There
        are no
        pending challenges to any Environmental Permit.

       

      (d) None
        of
        the Sellers or their respective Affiliates (in relation to the Geismar Facility,
        the Monochem Facility and the Business) or the Chinese Joint Venture or its
        Affiliates have, within five years prior to the Closing Date and other than
        has
        already been provided to the Purchaser, received any notice from any
        Governmental Authority claiming or asserting that (i) the operation of the
        Business at any location or using any of the tangible Assets by any Seller
        or
        the Chinese Joint Venture, or any of their respective Affiliates, is in
        violation of, or otherwise subject to any liability under any Environmental
        Law
        or Environmental Permit, or (ii) any Seller or any of its respective Affiliates
        (in relation to the Business) or the Chinese Joint Venture or any of its
        respective Affiliates is responsible (or potentially responsible) for the
        cleanup of any Hazardous Substances at any location.

       

      (e) No
        orders, judgments or injunctions under any Environmental Law remain in force
        and
        effect and apply to the operations of, or impose any on-going liabilities
        or
        obligations on any Seller or the Chinese Joint Venture.

       

      (f) To
        the
        Sellers’ Knowledge, no facts, events or conditions relating to the Business and
        tangible Assets exist that would be reasonably likely to prevent continued
        compliance with Environmental Laws.

       

      (g) Neither
        any Seller (in relation to the operation of the Business and tangible Assets)
        nor the Chinese Joint Venture is the subject of any pending or threatened
        Proceeding in any forum, judicial or administrative, involving a demand for
        damages, injunctive relief, penalties or other potential liability with respect
        to any Environmental Violations or Environmental Claims.

       

      
        
          
          

        

        
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      (h) The
        Sellers and the Chinese Joint Venture have conducted off-site disposal of
        hazardous waste only in compliance with applicable laws. To the Sellers’
Knowledge, neither any Seller nor the Chinese Joint Venture has transported
        off-site for treatment, storage or disposal any Hazardous Substances from
        its
        operations that could reasonably give rise to liabilities under any
        Environmental Law.

       

      (i) As
        provided in Schedule
        4.21(i)
        and
        except for Releases authorized by Environmental Permits, the Sellers have
        disclosed all Releases of Hazardous Substances known or that they have reason
        to
        know on, from, or to the Geismar Facility or the Monochem Facility that either
        (A) exceeded the reportable quantity during the last three years or
        (B) are on going and are reaching the soils and/or groundwater at the
        Geismar Facility or the Monochem Facility.

       

      (j) Neither
        any Seller nor the Chinese Joint Venture have assumed or agreed to bear any
        liabilities or obligations of any third party under any Environmental Law
        other
        than in connection with contractual agreements with the contractors performing
        the Geismar Response Actions.

       

      (k) The
        Sellers have made available to the Purchaser (i) all material reports and
        studies regarding the extent and nature of soil and groundwater contamination
        resulting from Releases of Hazardous Substances from, on, at or under the
        Real
        Property and related material communications with Governmental Authorities,
        (ii)
        all material notices and communications with Governmental Authorities related
        to
        non-compliance with Environmental Laws and Environmental Permits during 2006
        and
        (iii) the most recent corporate PSM audit report. 

       

      4.22 Conduct
        of the Business.
        Except
        as set forth on Schedule 4.22,
        Chemtura and its Affiliates conduct the Business only through the Sellers
        and
        the Chinese Joint Venture and not through any other Person or any division
        or
        direct or indirect subsidiary or Affiliate of any Seller (other than the
        Chinese
        Joint Venture).

       

      4.23 Foreign
        Corrupt Practices.
        Since
        January 1, 2002, none of the Sellers nor the Chinese Joint Venture, any of
        their
        respective Affiliates, directors or officers or, to the Sellers’ Knowledge, any
        representative, employee or agent thereof, has, for or on behalf of the Business
        or in connection with this Agreement or the transactions contemplated hereby
        (a) made any unlawful payment to a foreign or domestic government official
        or employee or (b) violated in any material respect any applicable
        provision of the U.S. Foreign Corrupt Practices Act, as amended.

       

      4.24 EBITDA
        for the EPDM Business.
        Based
        solely on information available to Chemtura as of the date hereof and
        assumptions believed by Chemtura to be reasonable as of the date hereof,
        to the
        Sellers’ Knowledge, there is no reason to believe that EBITDA for the EPDM
        Business for the 12 months ended December 31, 2007 will be less than the
        amount
        set forth on Schedule
        4.24
        (assuming operation of the EPDM Business in a manner generally consistent
        with
        the 2007 Budget). 

       

      
        
          
          

        

        
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      4.25 Sale
        of Products.
        No
        product manufactured or sold by the Business during the 12-month period
        immediately preceding the date hereof has been the subject of any
        Seller-initiated or the Chinese Joint Venture-initiated or other recall,
        and, to
        the Sellers’ Knowledge, no event has occurred and no condition or circumstance
        exists that would reasonably be expected to give rise to any such recall.
        During
        the 12-month period immediately preceding the date hereof, there has not
        been
        any material level of product returns by customers of the Business, considered
        in the aggregate, in respect of products supplied by the Business.

       

      4.26 Chinese
        Joint Venture.
        Chemtura is the owner of 90% of the equity in the Chinese Joint Venture,
        free
        and clear of all Liens.

       

      ARTICLE
        5.

      REPRESENTATIONS
        AND WARRANTIES OF THE PURCHASER

       

      The
        Purchaser represents and warrants to the Sellers as follows:

       

      5.1 Due
        Incorporation.
        The
        Purchaser is a limited liability company duly organized, validly existing
        and in
        good standing under the laws of Delaware, and has all requisite limited
        liability company power and authority to own, operate and lease its assets
        and
        to conduct its business as presently conducted.

       

      5.2 Due
        Authorization.
        The
        Purchaser has full limited liability company power and authority to execute,
        deliver and perform this Agreement and its Related Agreements and to consummate
        the transactions contemplated hereby and thereby. The execution, delivery
        and
        performance by the Purchaser of this Agreement and its Related Agreements
        and
        the consummation by the Purchaser of the transactions contemplated hereby
        and
        thereby have been duly authorized by all necessary limited liability company
        action. The Purchaser has duly and validly executed and delivered this Agreement
        and, at or prior to the Closing, will have duly and validly executed and
        delivered each of its Related Agreements. Assuming the due authorization,
        execution and delivery of this Agreement and the Related Agreements by each
        Seller (as applicable), this Agreement constitutes, and each of the Related
        Agreements will after the Closing constitute, the Purchaser’s legal, valid and
        binding obligation, enforceable against it in accordance with its respective
        terms, subject to the Enforceability Limitations.

       

      5.3 Consents
        and Approvals; Authority Relative to this Agreement.

       

      (a) Except
        for the Governmental Required Consents or as set forth on Schedule 5.3,
        no
        Consent of or with any Governmental Authority is necessary in connection
        with
        the execution, delivery or performance by the Purchaser of this Agreement
        or any
        of its Related Agreements or the consummation by the Purchaser of the
        transactions contemplated hereby or thereby.

       

      (b) Except
        for the Governmental Required Consents or as set forth on Schedule 5.3,
        the
        execution, delivery and performance by the Purchaser of this Agreement and
        its
        Related Agreements, and the consummation by the Purchaser of the transactions
        contemplated hereby and thereby, do not and will not: (i) violate any Law
        applicable to or binding on the Purchaser or any of its assets; (ii) constitute
        a breach or default of, or permit cancellation of, or result in the creation
        of
        any Lien upon any of the assets of the Purchaser under, or result in or
        constitute a circumstance which, with or without notice or lapse of time
        or
        both, would constitute any of the foregoing under, any Contract to which
        the
        Purchaser or any of its Affiliates is a party or by which the Purchaser or
        any
        of its Affiliates or any of their respective assets is bound; (iii) permit
        the
        acceleration of the maturity of any indebtedness of the Purchaser or any
        of its
        Affiliates or indebtedness secured by any of their respective assets; or
        (iv)
        violate or conflict with any provision of the limited liability company
        operating agreement or other organizational documents of the
        Purchaser.

       

      
        
          
          

        

        
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      5.4 Proceedings.
        There
        are no Proceedings pending, or, to the Purchaser’s Knowledge, threatened, by or
        against the Purchaser or any of its Affiliates with respect to this Agreement
        or
        the Related Agreements, or in connection with the transactions contemplated
        hereby or thereby.

       

      5.5 Financing.

       

      (a) The
        Purchaser has obtained (i) a term sheet from a responsible financial institution
        (the “Term
        Sheet”)
        setting forth certain terms and conditions of first-lien debt financing to
        include the making of loans to and issuance of letters of credit for the
        benefit
        of the Purchaser and (ii) a letter (the “Financeability
        Letter”)
        referring to second-lien debt financing to be arranged through the private
        debt
        markets (collectively, the “Debt
        Financing”),
        in
        amounts that if such Debt Financing is successfully obtained will be in the
        aggregate, together with the amount of the Equity Financing and available
        cash
        resources of the Purchaser, sufficient to pay the amounts to be paid by the
        Purchaser at the Closing under this Agreement and the fees and expenses incurred
        by the Purchaser in connection with the transactions contemplated hereby.
        The
        Purchaser has made available to Chemtura true and complete copies of the
        Term
        Sheet and Financeability Letter

       

      (b) The
        Purchaser will, as of the Closing, have obtained up to $35 million in equity
        (the “Equity
        Financing”)
        from
        certain equity investors to fund in part the amounts to be paid at the Closing
        under this Agreement.

       

      ARTICLE
        6.

      COVENANTS

       

      6.1 Access
        to Information.
        From
        and after the date of this Agreement until the Closing Date, each Seller
        shall
        (and shall request its accountants and environmental consultants to), and
        Chemtura shall cause the Chinese Joint Venture (and shall request its
        accountants and environmental consultants) to, afford to the Purchaser and
        its
        accountants, counsel and other Representatives reasonable access, upon
        reasonable notice during normal business hours, to all the personnel,
        properties, books, contracts, commitments, Tax Returns and records of the
        Business that relate to the Assets (but not including Tax Returns in respect
        of
        income generated by such Assets) and during such period shall furnish to
        the
        Purchaser any information of the Business relating to (and then only to the
        extent relating to) the Assets which is reasonably available to the Sellers
        or
        the Chinese Joint Venture as the Purchaser may reasonably request; provided
        that
        nothing herein will obligate any Seller or the Chinese Joint Venture to (a)
        take
        any actions that would unreasonably interrupt the normal course of business
        of
        the Business (including conducting, or permitting the Purchaser to conduct,
        any
        environmental sampling or testing) or (b) violate any Law or the terms of
        any
        Contract to which any Seller or the Chinese Joint Venture or any Affiliate
        of
        any Seller is a party or to which any assets of any Seller or the Chinese
        Joint
        Venture or any Affiliate of any Seller are subject, and provided,
        further,
        that if
        any particular document or other item containing information to which the
        Purchaser has the right of access pursuant to this Section 6.1
        contains
        both (y) information related to the Business and (z) other information, then
        the
        applicable Seller or the Chinese Joint Venture may, at its option, either
        (i) provide a copy of such document or item to the Purchaser subject to the
        Purchaser’s obligations contained herein to keep such other information
        confidential or (ii) redact (with reasonable promptness) such document or
        item
        and provide the Purchaser with access to such redacted form of document or
        item
        (which redacted form of document or item shall incorporate all information
        that
        the Purchaser has the right to access pursuant to this Section 6.1).
        Notwithstanding anything to the contrary contained in this Section 6.1,
        nothing
        in this Section 6.1
        shall
        require any party to provide any other party with books and records or
        information that constitute Privileged Documents.

       

      
        
          
          

        

        
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      6.2 Preservation
        of Business.
        From
        the
        date of this Agreement until the Closing Date, except as set forth on
Schedule 6.2
        or as
        contemplated by this Agreement (including any Employee Exhibit), each Seller
        and
        the Chinese Joint Venture shall operate the Business in the manner contemplated
        by the 2007 Budget. Without limiting the generality of the foregoing, except
        as
        set forth on Schedule 6.2
        or as
        contemplated by this Agreement, prior to the Closing neither the Sellers
        collectively in connection with the Business as it is conducted at the Geismar
        Facility and the Monochem Facility nor the Chinese Joint Venture shall, without
        the prior written consent of the Purchaser, which shall not be unreasonably
        withheld or delayed:

       

      (a) sell,
        transfer, lease, license, convey or otherwise dispose of any Assets having
        a net
        book value, individually or in the aggregate, in excess of $25,000, except
        in
        the ordinary course of business and consistent with past practice or in
        connection with the matters described in Schedule
        4.9(e);

       

      (b) acquire
        or lease any material assets having a net book value, individually or in
        the
        aggregate, in excess of $10,000, except in the ordinary course of business
        and
        consistent with past practice;

       

      (c) make
        any
        material changes in the accounting principles or practices of the Business,
        except as required by GAAP or applicable Law;

       

      (d) other
        than supply arrangements in the ordinary course of business and consistent
        with
        past practice, enter into any material transaction with any Affiliate of
        any
        Seller (including another Seller);

       

      (e) enter
        into, adopt, amend or terminate any material bonus, profit sharing,
        compensation, termination, stock option, stock appreciation right, restricted
        stock, performance unit, pension, retirement, deferred compensation, employment,
        severance or other employee benefit agreement, trust, plan or fund for the
        benefit or welfare of any Business Employee, or materially increase the
        compensation or benefits of any Business Employee, or enter into any Contract
        to
        do any of the foregoing, in each case except (i) in the ordinary course of
        business or to the extent undertaken in connection with the implementation
        of a
        program that impacts all similarly situated employees of Chemtura and its
        Affiliates, (ii) as required by Law or (iii) as required by the terms of
        any
        collective bargaining agreement;

       

      
        
          
          

        

        
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      (f) enter
        into any Contract that (i) obligates the Sellers or the Chinese Joint Venture
        to
        make aggregate payments in excess of $25,000 and that would be binding upon
        the
        Business or the Assets after the Closing or (ii) that has a term of, or requires
        the performance of any obligation by the Sellers or the Chinese Joint Venture
        over a period in excess of, one year and that would be binding upon the Business
        or the Assets after the Closing, in each case except in the ordinary course
        of
        business and consistent with past practice; provided
        that in
        no event shall any Seller or the Chinese Joint Venture enter into any hedging
        arrangement or other derivative transaction that would be binding upon the
        Business or the Assets after the Closing;

       

      (g) (i) waive
        or abandon any material rights under any of the Material Contracts,
        (ii) repudiate any of its obligations under any Material Contract or
        disaffirm or challenge the validity or enforceability thereof, (iii) amend
        any Material Contract in a manner that would (A) adversely affect the use
        or enjoyment thereof by the Purchaser or the Chinese Joint Venture,
        (B) materially decrease the value thereof or (C) materially increase
        the Purchaser’s or the Chinese Joint Venture’s obligations or liabilities
        thereunder, (iv) terminate any Material Contract (except with respect to
        purchase orders in the ordinary course of business consistent with past
        practice) or (v) materially default in the performance of any obligation
        under a Material Contract;

       

      (h) waive
        or
        abandon or otherwise dispose of any rights in or to any Registered Intellectual
        Property or any other material Transferred Intellectual Property;

       

      (i) make
        or
        revoke any material election with respect to Taxes of the Chinese Joint Venture;
        or

       

      (j) enter
        into any closing agreement or settlement agreement to settle any claim or
        assessment for Taxes of the Chinese Joint Venture, or surrender any right
        to
        claim a refund of Taxes or otherwise offset any Tax Liability of the Chinese
        Joint Venture.

       

      6.3 Consents
        and Approvals.

       

      (a) On
        the
        terms and subject to the conditions of this Agreement, each party shall use
        its
        commercially reasonable efforts to cause the Closing to occur, including
        taking
        all reasonable actions necessary to comply promptly with all legal requirements
        that may be imposed on it or any of its Affiliates with respect to the Closing.
        Each of the Sellers, on the one hand, and the Purchaser, on the other hand,
        shall not (and shall cause its respective Affiliates not to) take any actions
        that would, or that could reasonably be expected to, result in any of the
        conditions set forth in Article
        7
        or
Article
        8,
        respectively, not being satisfied. Notwithstanding anything to the contrary
        contained in this Agreement, nothing contained herein shall require any party
        to
        waive its rights to terminate the Agreement hereunder or any condition to
        its
        obligation to consummate the transactions contemplated hereby.
        For the
        avoidance of doubt, the Seller shall be responsible for all requirements
        under
        sections 22a-134 through 22a-134e of the Connecticut General Statutes commonly
        known as “the property transfer law” that may be applicable to acts, events or
        circumstances occurring prior to the Closing as a result of the transactions
        contemplated by this Agreement. 

       

      
        
          
          

        

        
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    (b) In
      furtherance and not in limitation of the provisions of Section 6.3(a),
      the
      Sellers and the Purchaser shall (i) file within 30 days after the date of
      this Agreement with the Antitrust Division and the FTC the notification and
      report form required under the HSR Act for the transactions contemplated hereby,
      requesting early termination of the waiting period thereunder, (ii) respond
      promptly to inquiries from the Antitrust Division or the FTC in connection
      with
      such filings, including providing any supplemental information that may be
      requested by the Antitrust Division or the FTC and (iii) provide to the other
      party copies of any filings made under the HSR Act at the time they are filed
      with the Antitrust Division or the FTC, but excluding documents or disclosures
      that reflect negotiations or valuations. Each of the Sellers and the Purchaser
      shall furnish to the other such necessary information and reasonable assistance
      as the other may request in connection with its preparation of any filing or
      submission that is necessary under the HSR Act. The Sellers and the Purchaser
      shall keep each other apprised of the status of any communications with, and
      any
      inquiries or request for additional information from, the Antitrust Division
      or
      the FTC. Each party shall use its commercially reasonable efforts to obtain
      any
      clearance required under the HSR Act for the consummation of the transactions
      contemplated by this Agreement. The Sellers and the Purchaser shall also
      cooperate to make any required filings, including any required filings under
      the
      Premerger Notification Provisions (and use commercially reasonable efforts
      to
      obtain any clearance required thereunder) and any required merger notification
      under the Laws of Brazil as promptly as practicable after the execution and
      delivery of this Agreement and, with respect to Brazil, no later than 15
      business days after the execution and delivery of this Agreement.

     

    (c) In
      furtherance and not in limitation of the provisions of Section 6.3(a),
      each
      Seller and the Purchaser shall cooperate with the other parties with respect
      to
      obtaining and making the Consents of Governmental Authorities and act as if
      all
      notifications, filings, submissions and other evidence, and all assurances,
      commitments or undertakings to be provided, or consent decrees to be entered
      into, in such connection are required to be prepared and filed jointly by all
      parties even if under particular circumstances they are formally made by only
      one party. In particular, each Seller and the Purchaser shall promptly provide
      drafts to the other parties, allow reasonably adequate time for comment by
      the
      other parties and consult promptly with the other parties with respect to the
      contents of all notifications, filings, submissions, further documentation
      and
      evidence to be submitted to all relevant Governmental Authorities. Each Seller
      and the Purchaser shall, in each case where permitted by the relevant
      Governmental Authority, allow Persons nominated by the other parties to attend
      all meetings with Governmental Authorities and, where appropriate, to make
      oral
      submissions at such meetings. The Purchaser and each Seller shall (i) furnish
      to
      the other such necessary information and reasonable assistance as the other
      may
      require in connection with its preparation of any notification, filing,
      submission or further documentation or evidence that is necessary in obtaining
      and making Consents of Governmental Authorities and (ii) promptly disclose
      to
      the other all correspondence received from or sent to any relevant Governmental
      Authority in connection herewith and shall keep the other fully informed of
      any
      other related communication in whatever form with any of the relevant
      Governmental Authorities. The Purchaser and each Seller shall comply promptly
      with any inquiry or request for additional information from any relevant
      Governmental Authority in connection herewith and shall promptly provide any
      supplemental information requested in connection with the notifications, filings
      and/or submissions made hereunder for the purposes of obtaining and making
      the
      Consents of Governmental Authorities.

    

    
      
        
          
          

        

        
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    (d) Each
      party shall, and shall cause its Affiliates to, use its commercially reasonable
      efforts (at its own expense) to obtain, and to cooperate in obtaining, all
      Consents from third parties in respect of the Purchased Contracts to the extent
      such Purchased Contracts require such Consents as a result of the transactions
      contemplated hereby; provided,
      however,
      that
      the parties shall not be required to pay or commit to pay any amount to (or
      incur any obligation in favor of) any Person from whom any such Consent may
      be
      required (other than nominal filing or application fees). The Purchaser
      acknowledges that certain Consents with respect to the transactions contemplated
      by this Agreement may be required from parties to Contracts and that such
      Consents have not been obtained. No Seller or any of their respective Affiliates
      shall have any Liability whatsoever to the Purchaser arising out of or relating
      to the failure to obtain any Consents from parties to Contracts that may be
      required in connection with the transactions contemplated by this Agreement
      or
      because of the termination of any Purchased Contract as a result thereof, other
      than any such failure or termination arising from a breach by the Sellers of
      this Section 6.3(d).

     

    (e) Each
      party shall, and shall cause its Affiliates to, reasonably cooperate to transfer
      any Permits, including any Environmental Permits, from the Sellers to the
      Purchaser (or any applicable person designated by the Purchaser) and obtain
      any
      Consents from any Governmental Authorities related to any such Permits or
      Environmental Permits to the extent such Permits or Environmental Permits are
      transferable and subject to any required approvals by applicable Governmental
      Authorities.

     

    6.4 Chemtura
      Names.

     

    (a) The
      Purchaser acknowledges that the Chemtura Names are and shall remain the property
      of the Sellers or their Affiliates and that nothing in this Agreement shall
      transfer or shall operate as an agreement to transfer any right, title or
      interest in any Chemtura Name to the Purchaser or any Affiliate of the
      Purchaser.

    

    
      
        
          
          

        

        
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    (b) Subject
      to Sections 6.4(c)
      and
(d),
      no
      Seller is granting the Purchaser a license to use, and neither the Purchaser
      nor
      any of its Affiliates shall have any title, right or interest in or to, any
      Chemtura Name after the Closing.

     

    (c) The
      Sellers grant to the Purchaser pursuant to this Section 6.4(c)
      a
      limited transition trademark license solely for the purpose of transitioning
      the
      Chemtura Names after the Closing and for the purpose of selling existing
      inventory of stocks, goods, products, services or software that include the
      Chemtura Names. The Purchaser agrees that it shall acquire no rights whatsoever
      in the Chemtura Names by virtue of its use during this transition period and
      that all use of the Chemtura Names during this period shall inure to the benefit
      of the Sellers and their Affiliates. Except as necessary in the performance
      under the Purchaser Master Supply Agreement, the Purchaser agrees
      that:

     

    (i) as
      soon
      as reasonably practicable following the Closing, but in any event within
      60 days
      following the Closing Date, no stationery, purchase order, invoice, receipt
      or
      other similar document containing any reference to any Chemtura Name shall
      be
      printed, ordered or produced by or on behalf of the Purchaser or any of its
      Affiliates and that the Purchaser shall, and shall cause all of its applicable
      Affiliates to, (A) cease to use any stationery, purchase order, invoice, receipt
      or other similar document containing any reference to any Chemtura Name or
      (B)
      only use such stationery, purchase order, invoice, receipt or other similar
      document after having deleted, pasted over or placed a sticker over such
      references;

     

    (ii) as
      soon
      as reasonably practicable following the Closing, and in any event no later
      than
      120 days after the Closing Date, it will remove the Chemtura Names from all
      visible premises, signs and vehicles which are included in the
      Assets;

     

    (iii) following
      the Closing, no brochures, leaflets or similar documents and no packaging
      containing any reference to any Chemtura Name shall be printed, ordered or
      produced by or on behalf of the Purchaser or any of its Affiliates and, with
      respect to existing brochures, leaflets or similar documents and packaging
      containing a reference to any Chemtura Name, the Purchaser shall use its
      commercially reasonable efforts to ensure that, as soon as reasonably
      practicable but in no event later than 60 days following the Closing Date,
      such
      references are deleted, pasted over or have a sticker put over them;
      and

     

    (iv) it
      shall
      use its commercially reasonable efforts to ensure that, from and after the
      Closing, no stocks, goods, products, services or software are manufactured
      or
      produced by or on behalf of the Purchaser or any of its Affiliates showing,
      having marked thereon or using any Chemtura Name.

     

    (d) Notwithstanding
      any other provision of this Agreement, it is understood and agreed that the
      remedy of indemnity payments pursuant to Article
      12
      and
      other remedies at law would be inadequate in the case of any breach of the
      covenants contained in this Section 6.4.
      Accordingly, each Seller shall be entitled, without limiting its other remedies,
      to equitable relief, including the remedy of specific performance or injunction,
      with respect to any breach or threatened breach of such covenants and the
      Purchaser (on behalf of itself and its Affiliates) consents to the entry
      thereof.

    

    
      
        
          
          

        

        
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    6.5 Brokers.
      Regardless of whether the Closing shall occur, (a) Chemtura shall indemnify
      the
      Purchaser and its Affiliates against, and hold the Purchaser and its Affiliates
      harmless from, any and all liability for any brokers’ or finders’ fees or other
      commissions arising with respect to brokers or finders retained or engaged
      by
      the Sellers or any of their Affiliates in respect of the transactions
      contemplated by this Agreement, and (b) the Purchaser shall indemnify each
      Seller and its Affiliates against, and hold each Seller and its Affiliates
      harmless from, any and all liability for any brokers’ or finders’ fees or other
      commissions arising with respect to brokers or finders retained or engaged
      by
      the Purchaser or any of its Affiliates in respect of the transactions
      contemplated by this Agreement.

     

    6.6 Preservation
      of Books and Records; Access and Assistance.

     

    (a) For
      a
      period of seven years
      after the Closing Date or as otherwise required by applicable Law, the Purchaser
      shall preserve and retain all Information and Records and other accounting,
      legal, auditing and other books and records (including any documents relating
      to
      any governmental or non-governmental Proceedings or investigations with respect
      to any Seller) relating to (i) the conduct of the Business or (ii) the
      ownership of the Assets prior to the Closing Date. Notwithstanding the
      foregoing, during such seven-year period, the Purchaser may dispose of any
      such
      books and records which are offered to, but not accepted by, the Sellers. If
      at
      any time after such seven-year period the Purchaser intends to dispose of any
      such books and records, the Purchaser shall not do so without first offering
      such books and records to the Sellers.

     

    (b) From
      and
      after the Closing Date, the Sellers and the Purchaser shall permit each other
      and its and their authorized representatives to have reasonable access, upon
      reasonable advance notice, to, and to inspect and copy (at the requesting
      party’s expense), all Information and Records and other accounting, legal,
      auditing and other books and records (including any documents relating to any
      governmental or non-governmental Proceedings or investigations with respect
      to
      any Seller) to the extent relating to (i) the conduct of the Business or (ii)
      the ownership of the Assets, in each case, prior to the Closing Date and to
      meet
      with officers and employees of the Purchaser on a mutually convenient basis
      in
      order to obtain explanations and additional information with respect to such
      Information and Records and books and records; provided,
      however,
      that
      nothing herein will obligate (A) any party to take any actions that would
      unreasonably interrupt the normal course of business of its business or (B)
      any
      Seller or the Purchaser to violate any Law or the terms of any Contract to
      which
      it or any of its Affiliates is a party or to which any its or its Affiliates’
assets are subject.

    

    
      
        
          
          

        

        
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    (c) In
      the
      event and for so long as any party hereto is prosecuting, participating in,
      contesting or defending against any charge, complaint, Proceeding,
      investigation, claim or demand in connection with (i) any transaction
      contemplated under this Agreement or (ii) any fact, situation, circumstance,
      status, condition, activity, practice, plan, occurrence, event, incident,
      action, failure to act or transaction prior to the Closing Date involving any
      Asset or the Business, each other party hereto shall (A) fully cooperate with
      it
      and its counsel in, and assist it and its counsel with, the prosecution,
      participation, contest or defense, (B) make available its personnel (including
      for purposes of fact finding, consultation, interviews, depositions and, if
      required, as witnesses), and (C) provide such information, testimony and access
      to its books and records, in each case as shall be reasonably requested in
      connection with the prosecution, participation, contest or defense, all at
      the
      sole cost and expense (not including employee compensation and benefits costs)
      of the prosecuting, participating, contesting or defending party (unless the
      prosecuting, participating, contesting or defending party is entitled to
      indemnification therefor under Article
      12);
      provided
      that
      nothing herein will obligate any party to (1) take any actions that would
      unreasonably interrupt the normal course of business of its business or (2)
      violate any Law or the terms of any Contract to which it or any of its
      Affiliates is a party or to which any assets of it or any of its Affiliates
      are
      subject, and provided,
      further,
      that if
      any particular document or other item containing information to which the
      Purchaser has the right of access pursuant to this Section 6.6(c)
      contains
      both (Y) information related to the Business and (Z) other information, then
      the
      applicable Seller may, at its option, either (I) provide (with reasonable
      promptness) a copy of such document or item to the Purchaser subject to the
      Purchaser’s obligations contained herein to keep such other information
      confidential or (II) redact (with reasonable promptness) such document or item
      and provide the Purchaser with access to such redacted form of document or
      item
      (which redacted form of document or item shall incorporate all information
      that
      the Purchaser has the right to access pursuant to this Section 6.6(c)).

     

    (d) Notwithstanding
      anything to the contrary contained in this Section 6.6,
      nothing
      in this Section 6.6
      shall
      require any party to provide any other party with books and records or
      information that are Privileged Documents. For the avoidance of doubt, this
      Section 6.6
      shall
      not apply with respect to disputes between or among the parties hereto and/or
      their Affiliates.

     

    6.7 Insurance.
      The
      Purchaser acknowledges that (a) all of the insurance policies maintained by
      the
      Sellers or any of their Affiliates prior to the Closing Date will be terminated
      with respect to the Business effective as of the Closing Date and (b) upon
      such
      termination, the Business will cease to be covered under such policies and
      the
      Purchaser will have to obtain replacement coverage (including coverage as the
      Purchaser deems appropriate for the Assets, the operation of the Business and
      the satisfaction of the Assumed Obligations).

     

    6.8 Confidentiality.

     

    (a) The
      Purchaser acknowledges that, prior to or after the Closing, it may be furnished
      with, receive or otherwise have access to information that is associated with
      the Other Chemtura Businesses or relating to the Retained Obligations or
      Excluded Assets, including information contained in Intellectual Property and
      other technical and business proprietary non-public information (such
      information, to the extent associated with the Other Chemtura Businesses or
      relating to the Retained Obligations or the Excluded Assets, “Seller
      Confidential Information”).
      The
      Purchaser further acknowledges that all Transferred Employees may have obtained
      Seller Confidential Information in the course of their prior employment with
      the
      Sellers and their Affiliates. Effective upon, and only upon, the Closing, the
      obligations under the Confidentiality Agreement to keep information confidential
      shall terminate, and thereafter the provisions of this Section 6.8
      shall
      govern the parties’ obligations to keep confidential the Confidential
      Information. For the avoidance of doubt, nothing contained in this Section 6.8
      is
      intended to restrict the Purchaser’s ability to use or disclose any information
      related to the Business after the Closing or to restrict either party from
      using
      any Confidential Information in a dispute with the other party in relation
      to
      this Agreement.

    

    
      
        
          
          

        

        
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    (b) Subsequent
      to the Closing, the Purchaser shall not (and shall cause its and its Affiliates’
employees and other Representatives not to) disclose, and shall (and shall
      cause
      its employees to) maintain the confidentiality of, all Seller Confidential
      Information.

     

    (c) Subsequent
      to the Closing, the Sellers shall not (and shall cause their and their
      Affiliates’ employees and other Representatives not to) disclose, and shall (and
      shall cause its employees to) maintain the confidentiality of, all information
      relating to the Business, the Purchased Assets, the Purchased Contracts and
      the
      Assumed Obligations, including information contained in the Transferred
      Intellectual Property and other technical and business proprietary non-public
      information (collectively, “Purchaser
      Confidential Information;”
the
      Seller Confidential Information and the Purchaser Confidential Information
      are
      collectively referred to as “Confidential
      Information”).

     

    (d) With
      respect to Seller Confidential Information, the Purchaser shall be referenced
      herein as the “Receiving
      Party,”
and
      the Seller shall be referenced herein as the “Disclosing
      Party.”
With
      respect to Purchaser Confidential Information, the Seller shall be referenced
      herein as the “Receiving
      Party,”
and
      the Purchaser shall be referenced herein as the “Disclosing
      Party.”
Each
      Receiving Party shall use at least the same degree of care to safeguard and
      to
      prevent the disclosure, publication, dissemination, destruction, loss or
      alteration of the Disclosing Party’s Confidential Information as it employs to
      avoid unauthorized disclosure, publication, dissemination, destruction, loss,
      or
      alteration of its own information (or information of its customers) of a similar
      nature, but in no case less than reasonable care. Each Receiving Party agrees
      that it shall not (and shall cause its and its Affiliates’ employees and other
      Representatives not to) (i) use any of the Disclosing Party’s Confidential
      Information in any manner, (ii) make any copies of any of the Disclosing Party’s
      Confidential Information, (iii) acquire any right in or assert any Lien against
      any of the Disclosing Party’s Confidential Information, (iv) sell, assign,
      transfer, lease, license or otherwise dispose of any of the Disclosing Party’s
      Confidential Information to third parties or commercially exploit any of the
      Disclosing Party’s Confidential Information, including through derivative works,
      or (v) refuse for any reason (including a default or breach or threatened breach
      of this Agreement or any Related Agreement by the Disclosing Party) to promptly
      provide any tangible embodiments of the Disclosing Party’s Confidential
      Information (including copies thereof) to the Disclosing Party if requested
      to
      do so, in the form reasonably requested. In the event that the Receiving Party
      or any of its Affiliates is requested or required by applicable Law, regulation
      or legal process to disclose any of the Disclosing Party’s Confidential
      Information, the Receiving Party shall (A) provide the Disclosing Party with
      prompt written notice so that the Disclosing Party may seek a protective order
      or other appropriate remedy or waive compliance with the provisions of this
      Section 6.8(d)
      and (B)
      cooperate with the Disclosing Party in any reasonable effort the Disclosing
      Party undertakes to obtain a protective order or other remedy. In the event
      that
      such protective order or other remedy is not obtained or the Disclosing Party
      waives compliance with the provisions of this Section 6.8(d),
      the
      Receiving Party shall disclose to the Person compelling disclosure only that
      portion of the Disclosing Party’s Confidential Information that the Receiving
      Party is advised by written opinion of counsel is legally required and shall
      use
      its commercially reasonable efforts to obtain reliable assurance that
      confidential treatment is accorded the Disclosing Party’s Confidential
      Information so disclosed, to the extent available.

    

    
      
        
          
          

        

        
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    (e) Nothing
      contained in this Agreement shall be construed as obligating either party or
      any
      of its Affiliates to disclose any Confidential Information to the other party,
      or as granting to or conferring on either party, expressly or impliedly, any
      right, title, interest or license in or to any of the other party’s Confidential
      Information or any components thereof.

     

    (f) Notwithstanding
      anything to the contrary, Confidential Information shall not include any
      information that (i) is or becomes publicly known through no fault of the
      Receiving Party, (ii) was already known to the Receiving Party (except,
      (A) in the case of the Sellers after the Closing, for information related
      to the Business or the Purchaser and (B) in the case of the Purchaser after
      the Closing, for information relating to Other Chemtura Businesses to which
      the
      Purchaser has access as a result of its acquisition of the Business or its
      performance of its obligations under the Purchaser Master Supply Agreement)
      or
      becomes available to the Receiving Party from a Person who does not have an
      obligation of confidence with respect to such information, or (iii) is
      independently developed for the Receiving Party by Persons who do not have
      access to the Disclosing Party’s Confidential Information.

     

    (g) Notwithstanding
      any other provision of this Agreement, it is understood and agreed that the
      remedy of indemnity payments pursuant to Article
      12
      and
      other remedies at law may be inadequate in the case of any breach or threatened
      breach of the covenants contained in this Section 6.8.
      Accordingly, the owner of the Confidential Information shall be entitled to
      seek
      equitable relief, including the remedies of specific performance and injunction,
      with respect to any breach or attempted breach of such covenants by the other
      party.

     

    6.9 Guarantees;
      Credit Support.

     

    (a) The
      Purchaser will cooperate with the Sellers in obtaining, and use its commercially
      reasonable efforts to obtain, at or prior to the Closing, a full and
      unconditional release of all Business Guarantees, including by agreeing to
      enter
      into replacement credit support in favor of any third party creditor who is
      a
      beneficiary of such Business Guarantee.

     

    (b) Each
      Seller shall, and shall cause each of its Affiliates to, use commercially
      reasonable efforts to cause all credit support in favor of any Seller with
      respect to the Business (e.g., any letters of credit backing obligations to
      any
      Seller with respect to any accounts or supplies or services) to be amended
      or
      replaced such that such credit support is on substantially similar terms that
      are no less favorable in the aggregate to that in favor of such Seller except
      that it is in favor of the Purchaser on the Closing Date.

     

    
      
        
          
          

        

        
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    6.10 Taxes.

     

    (a) Tax
      Returns.
      (i)
      With respect to all Tax Returns required to be filed by or with respect to
      the
      Chinese Joint Venture for a Pre-Closing Tax Period (a “Pre-Closing
      Tax Return”)
      (A)
      the Sellers shall prepare and timely file, and cause to be filed, all such
      Tax
      Returns required to be filed prior to the Closing Date, and (B) the Purchaser
      shall prepare and timely file, or cause to be prepared and timely filed, all
      such Tax Returns required to be filed after the Closing Date. Not later than
      five days prior to the due date for the payment of Tax with respect to each
      Pre-Closing Tax Return, the Sellers shall timely pay to the Purchaser the amount
      owed, if any, to the Purchaser pursuant to Section
      12.2
      with
      respect to such Pre-Closing Tax Return. Not later than 30 days prior to the
      due
      date of each Pre-Closing Tax Return (including extensions thereof), the party
      preparing such Tax Return shall provide a copy of such Tax Return to the other
      party, together with the work papers and schedules utilized in its preparation,
      for the other party’s review and comment, which comments shall not be
      unreasonably withheld. The party preparing such Tax Return shall provide a
      copy
      of the final Pre-Closing Tax Returns to the other party promptly after filing.
      

     

    (ii) The
      Purchaser shall cause to be prepared and duly filed all Tax Returns required
      to
      be filed by or with respect to the Chinese Joint Venture for all Straddle
      Periods. Not later than 30 days prior to the due date of each Tax Return that
      relates to a Straddle Period (“Straddle
      Period Tax Return”)
      (including extensions thereof), the Purchaser shall deliver to the applicable
      Seller a copy of such Tax Return for such Seller’s review and comment, which
      comments shall not be unreasonably withheld. Not later than five days prior
      to
      the due date for the payment of Tax with respect to each Straddle Period Tax
      Return, the Sellers shall pay to the Purchaser the amount owed, if any, to
      the
      Purchaser pursuant to Section 12.2
      with
      respect to such Tax Return. Upon receipt thereof, the Purchaser shall pay the
      Taxes shown due thereon. 

     

    (iii) The
      Purchaser shall provide a copy of all final Straddle Period Tax Returns to
      the
      Sellers promptly after filing. The Sellers, the Purchaser and the Chinese Joint
      Venture shall cooperate fully, as and to the extent reasonably requested, in
      connection with the filing of the Pre-Closing Tax Returns and Straddle Period
      Tax Returns and any audit, litigation or other proceeding with respect to such
      Tax Returns.

     

    (b) Pre-Closing
      Portion of Straddle Period Taxes.
      For
      purposes of determining the indemnification payment, if any, under Section 12.2(e),
      in the
      case of Taxes that are payable by or with respect to the Chinese Joint Venture
      with respect to any Straddle Period, the portion of any such Tax that is
      attributable to the portion of the period ending on day immediately preceding
      the Closing Date shall be:

     

    (i) in
      the
      case of Taxes that are either (A) based upon or related to income or receipts,
      or (B) imposed in connection with any sale or other transfer or assignment
      of
      property (real or personal, tangible or intangible), deemed equal to the amount
      that would be payable if the Taxable year or period ending on (and including)
      the day immediately preceding the Closing Date; and

    

    
      
        
          
          

        

        
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    (ii) in
      the
      case of Taxes that are imposed on a periodic basis with respect to the assets
      of
      the Chinese Joint Venture, deemed to be the amount of such Taxes for the entire
      period (or, in the case of such Taxes determined on an arrears basis, the amount
      of such Taxes for the immediately preceding period), multiplied by a fraction
      the numerator of which is the number of calendar days in the portion of the
      period ending on (and including) the day immediately preceding the Closing
      Date
      and the denominator of which is the number of calendar days in the entire
      period.

     

    (c) Property
      Taxes.
      The
      party considered to be the owner of record under the applicable state law shall
      be responsible for filing any returns and paying any tax due with respect to
      all
      real estate, personal property and similar ad valorem Taxes relating to the
      Assets applicable to periods beginning before or on the Closing Date and ending
      after Closing Date (“Property
      Taxes”).
      Notwithstanding the preceding sentence, Property Taxes shall be prorated based
      on the assessment for the relevant calendar year (unless such Property Taxes
      are
      paid in arrears and the Closing takes place during calendar year 2007 and the
      assessment for the calendar year 2007 shall not be available, in which case
      the
      assessment for calendar year 2006 shall be used, subject to a true-up when
      the
      2007 assessment is issued) and the number of days in such period that occur
      before the Closing Date, on the one hand, and the number of days in such period
      that occur on or after the Closing Date, on the other hand, with the amount
      of
      such Taxes allocable to the portion of the period ending on the Closing Date
      being the responsibility of the Sellers and the remainder being the
      responsibility of the Purchaser. In the event that the amount of Property Taxes
      actually assessed differs from the amount used in the proration, the proration
      shall be revised based upon the final assessment. The Purchaser or Sellers,
      as
      the case may be, shall reimburse the other party for Property Taxes paid within
      fifteen days of payment by the other party, to the extent such party is liable
      for the Property Taxes pursuant to this Section 6.10(c)
      and such
      Taxes are paid by the other party. The parties shall cooperate fully, as and
      to
      the extent reasonably requested, in connection with the filing of any Tax
      Returns relating to Property Taxes and any audit, litigation or other proceeding
      with respect to such Tax Returns.

     

    (d) Taxes
      Related to Transaction.
      All
      sales, use, transfer, real property transfer, value added, recording,
      registration, notary, stamp, stamp duty or similar Taxes and fees (“Transfer
      Taxes”),
      and
      all recording costs, arising out of the transfer of the Assets pursuant to
      this
      Agreement and all costs and expenses incurred in connection with the
      transferring and recording of title to the Assets shall be apportioned fifty
      percent to the Sellers and fifty percent to the Purchaser. The Tax Returns
      relating to such Transfer Taxes shall be timely prepared by the party legally
      obligated to make such filing, and such party will use its commercially
      reasonable efforts to provide such Tax Returns to the other party at least
      ten
      days prior to the due date for such Tax Returns. The parties agree to cooperate
      with each other in connection with the preparation and filing of such Tax
      Returns, in obtaining all available exemptions from such Transfer Taxes, in
      timely providing each other with resale certificates and any other documents
      necessary to satisfy any such exemptions and in any audit, litigation or other
      proceeding with respect to such Tax Returns.

    

    
      
        
          
          

        

        
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    (e) Procedures
      Relating to Tax Claims.
      The
      Purchaser and the Sellers shall cooperate fully, as and to the extent reasonably
      requested, in connection with any audit, litigation or other proceeding with
      respect to Taxes and Tax Returns (other than a proceeding described in
Article
      12 which
      shall be governed by Article
      12).
      Such
      cooperation shall include the retention, and (upon the other party’s request)
      the provision, of records and information which are reasonably relevant to
      any
      such audit, litigation or other proceeding and making employees available on
      a
      mutually convenient basis to provide additional information and explanation
      of
      any material provided hereunder; provided,
      however,
      the
      party requesting assistance shall pay the reasonable out-of-pocket expenses
      incurred by the party providing such assistance; provided,
      further,
      no
      party shall be required to provide assistance at times or in amounts that would
      interfere unreasonably with the business and operations of such party. The
      Sellers agree to retain all books and records with respect to Tax matters
      pertinent to the Chinese Joint Venture relating to the Tax periods ending prior
      to the Closing Date, until the expiration of any applicable statute of
      limitations or extensions thereof.

     

    6.11 Certain
      Restrictions.

     

    (a) For
      a
      period of four years after the Closing Date, the Sellers shall not, and shall
      cause their Affiliates not to, directly or indirectly:

     

    (i) engage
      in
      the business of manufacturing, marketing and distributing, or performing
      research and development with respect to, products of the EPDM Business and
      the
      Rubber Chemicals Business that were manufactured during the 24
      months prior
      to
      the Closing (any such product, a “Prohibited
      Product”),
      in
      each case as conducted by the Sellers during the 24 months prior to the Closing
      Date in any country in which any Seller conducts such business during the 24
      months prior to the Closing Date (a “Competing
      Business”),
      or

     

    (ii) have
      a
      financial interest in (including as a shareholder, member, partner, owner,
      lender, creditor or in any similar capacity) any Competing
      Business.

     

    (b) Notwithstanding
      the terms of Section 6.11(a),
      nothing
      in Section 6.11(a)
      shall
      prohibit or otherwise restrict any Seller or any of its Affiliates
      from:

     

    (i) carrying
      on or developing any business other than any Competing Business;

     

    (ii) acquiring
      the whole or any part of a Person which carries on all or a portion of any
      Competing Business or the whole or any part of a business which includes the
      carrying on of all or a portion of any Competing Business, except that where
      more than $5,000,000 of the revenues of the Person or of the business acquired
      as set out in the latest available annual financial statements of that Person
      or
      business consists of a Competing Business, such Seller or Affiliate of such
      Seller shall use its commercially reasonable efforts to dispose of (including
      by
      terminating operations relating to the Competing Business or diverting those
      assets to a business other than a Competing Business) such assets within 12
      months of such acquisition (which 12 month period shall be extended for an
      additional six months, but only so long as the relevant Seller or Affiliate
      of
      such Seller is making diligent efforts to dispose of such assets);

    

    
      
        
          
          

        

        
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    (iii) owning
      (A) less than an aggregate of 5% of any class of stock traded on a national
      exchange of a Person engaged, directly or indirectly, in all or a portion of
      any
      Competing Business; or (B) less than 5% in value of the indebtedness of a Person
      engaged, directly or indirectly, in all or a portion of any Competing
      Business;

     

    (iv) marketing
      and selling Celogen® OT, Celogen® AZ and Celogen® AZ blends for use in any
      applications other than rubber;

     

    (v) selling,
      marketing and distributing (A) I-3 or (B) EPDM, in each case for use
      in Royaltuf® and plastic additives;

     

    (vi) manufacturing
      PPD Products solely for sale to the Purchaser or its designee in accordance
      with
      the terms of the Chemtura Master Supply Agreement; or

     

    (vii) manufacturing,
      marketing or selling any product that includes as an ingredient or component
      any
      Prohibited Product, if the Prohibited Product constitutes less than 50% of
      such
      product or if the Prohibited Product undergoes a chemical
      transformation.

     

    (c) Notwithstanding
      any other provision of this Agreement, it is understood and agreed that the
      remedy of indemnity payments pursuant to Article
      12
      and
      other remedies at law may be inadequate in the case of any breach or threatened
      breach of the covenants contained in Section 6.11(a).
      Accordingly, the Purchaser shall be entitled to seek equitable relief, including
      the remedy of specific performance, with respect to any breach or attempted
      breach of such covenants.

     

    (d) Notwithstanding
      anything to the contrary contained in this Agreement, Section 6.11(a)
      shall
      not apply to any third party which (i) acquires (A) a majority equity interest
      in Chemtura or in any of the Affiliates of Chemtura or (B) all or substantially
      all of the business or assets of Chemtura or any Affiliates of Chemtura,
      regardless of the form of such transaction and (ii) was a competitor of the
      Business at the time of such acquisition. If the requirements of the preceding
      sentence are satisfied, then Section 6.11(a)
      shall
      also not apply to any of the Affiliates of such third party (other than the
      entity Chemtura and the entities which were Affiliates of Chemtura prior to
      such
      acquisition).

     

    6.12 Purchaser’s
      Option.
      The
      Sellers hereby grant the Purchaser an option to purchase the assets described
      on
Schedule
      6.12,
      exercisable in accordance with and on the terms and conditions set forth in
      Schedule
      6.12.  

     

    6.13 Naugatuck
      Equipment.

     

    (a) The
      Purchaser shall remove, within one month after the expiration of the term of
      the
      Ground Lease (as it may be extended pursuant to the terms thereof), at its
      own
      cost and expense, during normal business hours and without causing damage,
      Liability or material interruption to the applicable Seller’s business or
      assets, the technical service equipment included in the Naugatuck Equipment
      from
      the 112 Building located at the Naugatuck Site (the “Naugatuck
      Technical Service Equipment”).
      If
      the Purchaser fails to so remove any Naugatuck Technical Service Equipment,
      (i) all of the Purchaser’s right, title and interest in and to any such
      Naugatuck Technical Service Equipment shall automatically be transferred to
      the
      Seller of such Naugatuck Technical Service Equipment without any further action
      being required on the part of such Seller or the Purchaser and (ii) the
      Purchaser hereby grants an irrevocable power of attorney to each Seller of
      Naugatuck Technical Service Equipment granting such Seller the power to execute
      the necessary transfer documents on its behalf to cause any such transfer to
      be
      effective.

    

    
      
        
          
          

        

        
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    (b) The
      Purchaser shall, within six months after the Closing, remove, at its own cost
      and expense, during normal business hours and without causing damage, Liability
      or material interruption to the applicable Seller’s business or assets, the
      pilot plant equipment included in the Naugatuck Equipment from the 110 Building
      located at the Naugatuck Site (the “Pilot
      Plant Equipment”).
      If
      the Purchaser fails to so remove any such Pilot Plant Equipment, (i) all of
      the Purchaser’s right, title and interest in and to any such Pilot Plant
      Equipment shall automatically be transferred to the Seller of such Pilot Plant
      Equipment without any further action being required on the part of such Seller
      or the Purchaser and (ii) the Purchaser hereby grants an irrevocable power
      of
      attorney to each Seller of Pilot Plant Equipment granting such Seller the power
      to execute the necessary transfer documents on its behalf to cause any such
      transfer to be effective.

     

    6.14 Chemtura’s
      Option.
      The
      Purchaser hereby grants Chemtura an option to purchase the assets described
      on
Schedule
      6.14,
      exercisable in accordance with and on the terms and conditions set forth in
      Schedule
      6.14.  

     

    6.15 Decommissioning
      of Wastewater Tank.
      The
      Sellers shall decommission (the “Wastewater
      Tank Decommissioning”)
      the
      2,400,000 gallon on-site wastewater tank referred to as tank WV-001 (the
“Wastewater
      Tank”)
      within
      the time period set forth on Schedule
      6.15.
      The
      Sellers shall comply with all applicable Environmental Laws and Permits in
      decommissioning the Wastewater Tank and in disposing of any materials, including
      any Hazardous Substance, that may exist in the Wastewater Tank as of the time
      it
      is decommissioned. The Wastewater Tank Decommissioning, including all necessary
      testing and remediation, shall be completed at the Sellers’ own cost and
      expense, during normal business hours and without causing damage, Liability
      or
      material interruption to the Purchaser’s business or assets. The Sellers agree
      to coordinate their efforts with the Purchaser to minimize interruptions to
      the
      Purchaser’s business or assets and to ensure compliance with all applicable
      Environmental Laws and Permits.

     

    6.16 Financial
      Assurance.
      The
      applicable Seller shall arrange for and maintain, in the name of the Purchaser,
      the Sellers’ Financial Assurance Obligations, subject to the provisions of
Schedule
      12.9(a).
      The
      Purchaser shall arrange for and maintain the Purchaser’s Financial Assurance
      Obligations. In addition, the Purchaser shall be responsible for mowing the
      Geismar Landfill cap as required by the RCRA Permit and shall not make a claim
      under Section
      12.9
      or any
      other section of this Agreement for indemnification or reimbursement for the
      costs of such mowing.

    

    
      
        
          
          

        

        
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    6.17 Financial
      Statements.

     

    (a) As
      soon
      as practicable after the date hereof, the Sellers shall prepare and deliver
      to
      the Purchaser (i) the audited combined statement of net assets of the
      Business as of December 31, 2006 and the related audited combined statement
      of
      revenues and expenses of the Business for the year then ended and (ii) the
      audited statements of net assets of the EPDM Business as of December 31, 2004
      and 2005 and
      the
      related audited statement of revenues and expenses of the EPDM Business for
      the
      years then ended
      (together with any notes thereto and the report of an independent auditor
      reasonably acceptable to the Purchaser thereon, which report shall be
      substantially in the form attached as Schedule
      6.17(a),
      the
“Audited
      Special Purpose Financial Statements”)
      and
      any supporting schedules used in connection with the preparation therewith.
      The
      Audited Special Purpose Financial Statements shall be prepared by the Sellers
      in
      accordance with GAAP (except as set forth in the notes thereto), consistently
      applied, and shall contain a reconciliation of the combined statement of net
      assets as of December 31, 2006 and the related combined statement of revenues
      and expenses for the year then ended prepared in accordance with GAAP and those
      same statements prepared in accordance with the Calculation Principles (the
      “Reconciliation”).
      The
      Reconciliation shall contain such level of detail as may be required to
      calculate 2006 EPDM EBITDA, 2006 Rubber Chemicals EBITDA and the amount of
      capital expenditures made or accrued by the Business during the year ended
      December 31, 2006, in each case in accordance with the Calculation Principles.
      Notwithstanding any reference in any Audited Special Purpose Financial Statement
      to the inclusion of certain assets to be sold and liabilities to be transferred,
      the only assets to be sold by the Sellers are the Assets and the only
      liabilities to be assumed by the Purchaser are the Assumed
      Liabilities.

     

    (b) The
      Sellers shall deliver to the Purchaser as soon as practicable monthly financial
      reports for the Business that are prepared internally by the Sellers’ management
      for any calendar month falling within the period from January 1, 2007 through
      the end of the Relevant Month (the “Interim
      Financial Statements”).

     

    6.18 Customer
      Accounts Receivable.
      The
      Sellers and the Purchaser shall cooperate in good faith in order to ensure
      that
      the applicable Seller receives payment of any account, trade or note receivable
      or other payment from a customer or any other obligor to the extent relating
      to
      any Other Chemtura Business and that the Purchaser receives payment of any
      account, trade or note receivable or other payment from a customer or any other
      obligor (other than Foreign Accounts Receivable or the Retained PPD Receivables)
      to the extent relating to the Business. As promptly as practicable after the
      Closing, the parties will reasonably cooperate to notify each account debtor
      of
      any Account Receivable of the Purchaser’s identity and the account which the
      Purchaser has designated for receipt of payments in a letter in form and
      substance reasonably satisfactory to the Purchaser. To the extent that either
      the Purchaser, on the one hand, or a Seller, on the other hand, determines
      that
      it has received payment of an account, trade or note receivable or other payment
      from a customer or any other obligor owned by the other (including by way of
      notice from the other), the receiving party agrees to promptly (and in any
      event
      as promptly as practicable but in no event later than five Business Days after
      making such determination) remit such payment to the designated bank account
      of
      the owner of such receivable or payment.

    

    
      
        
          
          

        

        
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    6.19 Customer
      Returns and Warranty Support Services.
      The
      Purchaser shall perform or pay for the performance of warranty services and
      other similar obligations with respect to the Retained Product Claims (including
      replacement or refund obligations) in accordance with the warranty terms
      contained in the applicable Contracts (the “Warranty
      Obligations”),
      and
      Chemtura shall (a) promptly reimburse the Purchaser for the Purchaser’s
      actual costs to perform or (b) pay for the performance of such Warranty
      Obligations, less the actual value of any products actually received by the
      Purchaser in a return transaction (“Warranty
      Costs”).
      Upon
      the receipt by Chemtura of a written report from the Purchaser, including
      supporting documentation, setting forth the details of any Warranty Obligations
      performed or paid for by the Purchaser, Chemtura shall promptly, but in no
      event
      later than ten Business Days after receipt of any such written report, reimburse
      the Purchaser for its Warranty Costs in respect of such Warranty Obligations.
      The Sellers reserve the right to make reasonable audits of the Purchaser’s
      invoices with respect to requests for reimbursement under this Section 6.19,
      and the
      Purchaser shall provide to the Sellers such reasonable information and
      reasonable access to the Purchaser’s records necessary to complete any such
      audit.

     

    6.20 Certain
      Matters Regarding Financing.
      The
      Purchaser shall use its commercially reasonable efforts to secure as promptly
      as
      reasonably practicable the Debt Financing contemplated by the Term Sheet and
      the
      Financeability Letter, subject to the availability of such financing on
      commercially reasonable terms; provided,
      however,
      that
      nothing contained herein shall obligate the Purchaser to secure any debt
      financing arranged or provided by the arranger contemplated therein or any
      affiliate thereof. In the event the Purchaser determines that the condition
      precedent set forth in Section
      7.9
      cannot
      be satisfied, it shall promptly notify the Sellers of such
      determination.

     

    6.21 Intellectual
      Property Rights Actions.
      Schedule 6.21
      sets
      forth a true and complete list of all actions that, to the Sellers’ Knowledge,
      must be taken within six months following the date hereof to maintain the
      existence or validity of the Registered Intellectual Property.

     

    6.22 Attorney-Client
      Privilege.
      In the
      event either party or any of its Affiliates or representatives gains access
      to
      the Privileged Documents of another party, whether inadvertently or otherwise,
      such party agrees not to contest any assertion of privilege by the party to
      which such privilege belongs by reason of such access.

     

    6.23 Filing
      of Assignments.
      The
      Sellers shall, at the Sellers’ sole cost, within a commercially reasonable time
      after the Closing, deliver to the Purchaser evidence that the Sellers have
      taken
      commercially reasonable steps to cause documents to be properly filed with
      the
      applicable U.S. and foreign Governmental Authority, in form and substance
      sufficient to evidence in the records of such Governmental Authority a chain
      of
      title showing (a) the Sellers’ sole and exclusive ownership (prior to transfer
      to the Purchaser) of the Transferred Patents and Transferred Trademarks (to
      the
      extent subject to a registration or an application for registration) free and
      clear of any Lien other than Permitted Liens, and (b) the Sellers’ sole and
      exclusive ownership of any and all patents and patent applications licensed
      to
      the Purchaser under the License Agreements. The Sellers shall provide the
      Purchaser with copies of the Sellers’ submittals to the Governmental Authority
      and copies of any receipts or confirmations acknowledging such
      filing.

    

    
      
        
          
          

        

        
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    6.24 Key
      Employees.
      The
      Sellers shall provide reasonable cooperation with the Purchaser’s efforts to
      obtain non-competition agreements in forms reasonably acceptable to the
      Purchaser from the Business Employees listed on Schedule 6.24.

     

    6.25 Certain
      Related Agreements.
      Prior
      to the Closing, each Seller and the Purchaser shall negotiate in good faith
      regarding, and shall dedicate adequate resources and use commercially reasonable
      efforts to mutually agree upon the forms and terms of the Chemtura Master Supply
      Agreement, the Ground Lease, the License Agreements (other than the Chinese
      Trademark License Agreement) and the Transition Services Agreement.

     

    6.26 Receivables
      Securitization Agreements.
      Chemtura shall use commercially reasonable efforts to obtain as promptly as
      reasonably practicable all
      Consents required under the Receivables Securitization Agreements (including,
      where necessary, Consents of the applicable Persons to the repurchase by
      Chemtura of Accounts Receivable) for the consummation of the transactions
      contemplated by this Agreement from the applicable parties thereto and to cause
      the release of all Liens in respect of any and all Assets
      subject to any Lien thereunder. 

     

    6.27 Chinese
      Joint Venture.
      Chemtura shall use commercially reasonable efforts to purchase the 10% equity
      interest in the Chinese Joint Venture from China National Chemical Construction
      Jiangsu Company and to obtain the necessary Chinese Consents to such purchase
      such that as of the Closing, Chemtura shall own 100% of the equity interest
      in
      the Chinese Joint Venture free and clear of all Liens.

     

    6.28 Foreign
      Accounts Receivable.
      At the
      Closing, Chemtura shall issue to the Purchaser a promissory note in original
      principal amount equal to the aggregate amount of the Foreign Accounts
      Receivable (excluding the Factored Accounts Receivable and net of related
      reserves and VAT taxes) as reflected on the Estimated Closing Statement,
      substantially in the form set forth in Exhibit
      L
      (the
“Accounts
      Receivable Note”),
      such
      promissory note to (1) have a term of 90 days, (2) be payable
      bi-weekly in equal installments, (3) be unsecured and (4) bear no
      interest.

     

    6.29 Adjustments
      to Pre-Signing Financial Statements.
      

     

    (a) The
      parties agree and acknowledge that the 2006 Pre-Signing Financial Statements
      set
      forth in Schedule
      4.4
      and the
      Calculation Principles set forth in Schedule
      1.1(c),
      in each
      case as of the date hereof are preliminary and are subject to good faith review
      by Chemtura and the Purchaser and that the Net Working Capital Threshold Amount
      has been determined based on the 2006 Pre-Signing Financial Statements. The
      parties shall have until February 28, 2007 to continue their good faith review
      of the 2006 Pre-Signing Financial Statements and agree to cooperate with each
      other in such review.

     

    (i) If
      neither Chemtura nor the Purchaser delivers any comments on the 2006 Pre-Signing
      Financial Statements to the other on or prior to February 28, 2007, then on
      March 1, 2007, the 2006 Pre-Signing Financial Statements and Net Working Capital
      Threshold shall be deemed to be final and not subject to adjustment pursuant
      to
      this Section
      6.29.
      

    

    
      
        
          
          

        

        
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    (ii) If
      either
      Chemtura or the Purchaser delivers to the other comments to the 2006 Pre-Signing
      Financial Statements on or prior to February 28, 2007, the Purchaser and
      Chemtura shall use their respective commercially reasonable efforts to negotiate
      in good faith to (A) address all such comments to their mutual satisfaction
      and (B) agree to appropriate adjustments, if any, to the Pre-Signing
      Financial Statements, the Net Working Threshold Amount and, if necessary, the
      Calculation Principles. Any agreement between the Purchaser and Chemtura
      pursuant to this Section
      6.29(a)(ii)
      shall be
      in writing and shall set forth the agreed-upon Pre-Signing Financial Statements,
      Net Working Capital Threshold Amount and Calculation Principles, which shall
      thereafter be final and binding upon the parties for all purposes of this
      Agreement. 

     

    (iii) To
      the
      extent that the parties are unable to resolve any such comments or agree on
      any
      appropriate adjustments to the Pre-Signing Financial Statements, Net Working
      Capital Threshold Amount and Calculation Principles (the “Unresolved
      Comments”)
      within
      40 days following
      the date hereof, the Unresolved Comments shall be submitted at the request
      of
      either Chemtura or the Purchaser to the Accounting Firm for arbitration in
      accordance with the procedures set forth in Section
      3.2(c)(iv);
      provided
      that the
      scope of the review by the Accounting Firm will be limited to a determination
      of
      the appropriate adjustments and modifications, if any, to the Pre-Signing
      Financial Statements, the Net Working Capital Threshold Amount and the
      Calculation Principles resulting from the Unresolved Comments. Such
      determination by the Accounting Firm shall be final and binding upon the
      parties, and Chemtura shall, within 10 days following such determination,
      deliver to the Purchaser the Pre-Signing Financial Statements and Calculation
      Principles, as adjusted in accordance with the Accounting Firm’s determination,
      at which point the Pre-Signing Financial Statements, the Net Working Capital
      Threshold Amount and the Calculation Principles shall be final and binding
      upon
      the parties. 

     

    (b) Upon
      the
      Pre-Signing Financial Statements and Calculation Principles, as adjusted,
      becoming final and binding in accordance with Section
      6.29(a)(ii)
      or
(a)(iii),
      such
      final Pre-Signing Financial Statements and Calculation Principles shall be
      deemed to supersede and replace for all purposes of this Agreement
      (retroactively to the date of this Agreement) the Pre-Signing Financial
      Statements set forth on Schedule
      4.4
      and the
      Calculation Principles set forth on Schedule
      1.1(c).
      

     

    ARTICLE
      7.

    CONDITIONS
      PRECEDENT TO OBLIGATIONS OF THE PURCHASER

     

    The
      obligations of the Purchaser to consummate the transactions contemplated by
      this
      Agreement are subject to the satisfaction or waiver by the Purchaser of the
      following conditions precedent on or before the Closing Date:

     

    7.1 Representations
      and Warranties True.
      The
      representations and warranties of each of the Sellers contained herein shall
      have been accurate, true and correct in all material respects on and as of
      the
      date hereof (except with respect to representations and warranties that are
      qualified by materiality or Business Material Adverse Effect, which
      representations and warranties shall have been accurate, true and correct in
      all
      respects on and as of the date hereof) and, except to the extent that any such
      representation or warranty is expressly made solely as of the date hereof or
      as
      of another date earlier than the Closing Date, shall also be accurate, true
      and
      correct in all material respects on and as of the Closing Date (except with
      respect to representations and warranties that are qualified by materiality
      or
      Business Material Adverse Effect, which representations and warranties shall
      be
      accurate, true and correct in all respects on and as of the Closing Date).
      Notwithstanding any of the foregoing, if one or more of any such representations
      or warranties contained herein are not accurate, true and correct in all
      material respects (or in all respects, as the case may be) on and as of the
      date
      hereof and, except to the extent that any such representation or warranty is
      made solely as of the date hereof or as of another date earlier than the Closing
      Date, on and as of the Closing Date, the conditions precedent in this
Section 7.1
      shall
      nevertheless be deemed satisfied unless the inaccuracy, falsity or incorrectness
      of such representations or warranties would reasonably be expected to have
      a
      Business Material Adverse Effect.

     

    
      
        
          
          

        

        
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    7.2 Compliance
      with Agreements and Covenants.
      Each
      Seller shall have in all material respects performed and complied with all
      of
      its respective covenants and agreements contained in this Agreement to be
      performed and complied with by it on or prior to the Closing.

     

    7.3 Certificate
      of Compliance.
      The
      Sellers shall have delivered to the Purchaser a certificate of each of the
      Sellers dated as of the Closing Date, executed by a duly authorized senior
      officer of each of the Sellers, certifying as to the satisfaction of the
      conditions set forth in Sections 7.1
      and
7.2.

     

    7.4 HSR
      Act; Premerger Notification Provisions; Brazil.
      (a) Any
      applicable waiting period under the HSR Act shall have expired or have been
      terminated without action by the Antitrust Division or the FTC to prevent
      consummation of the transactions contemplated hereby, (b) any waiting
      period or suspensory obligation under any Premerger Notification Provision
      shall
      have expired or been terminated, (c) all applicable filings, consents and
      approvals under any Premerger Notification Provision, the absence of which
      would
      prohibit the consummation of the transactions contemplated by this Agreement,
      shall have been made or obtained and (d) the notification of this Agreement
      shall have been made in Brazil to the Ministry of Justice of Brazil no later
      than the 15th business day after the date of the execution and delivery of
      this
      Agreement.

     

    7.5 Governmental
      Required Consents.
      The
      Governmental Required Consents shall have been obtained, and the requirements
      under sections 22a-134 through 22a-134e of the Connecticut General Statutes
      (if
      applicable to acts, events or circumstances occurring prior to the Closing
      as a
      result of the transactions contemplated by this Agreement) shall have been
      satisfied.

     

    7.6 No
      Injunctions or Other Legal Restraints.
      No
      applicable Law, injunction or other legal restraint or prohibition enacted,
      entered, promulgated, enforced or issued by any Governmental Authority
      preventing, restricting or enjoining the consummation of the Closing or all
      or
      any portion of the transactions contemplated hereby shall be in
      effect.

     

    
      
        
          
          

        

        
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    7.7 Related
      Agreements.
      The
      form and substance of each Related Agreement (to the extent not attached as
      an
      Exhibit hereto) shall have been mutually agreed upon by the Purchaser and the
      Sellers, and the Purchaser shall have received from each Seller a duly executed
      copy of each Related Agreement to which such Person is a party.

     

    7.8 Contractual
      Consents.
      Any
      Consents required to assign any Purchased Contracts with any of the Material
      Suppliers or the Material Customers shall have been obtained and shall be in
      form and substance reasonably satisfactory to the Purchaser.

     

    7.9 Debt
      Financing.
      The
      Debt Financing shall have been made available to the Purchaser on terms and
      conditions no less favorable in the aggregate to the Purchaser than those set
      forth in the Term Sheet and the Financeability Letter, as
      applicable.

     

    7.10 The
      Designated Agreements.
      The
      applicable Sellers shall have entered into the Designated Agreements, in each
      case in form and substance reasonably acceptable to the Purchaser.

     

    7.11 Termination
      of Contracts.
      The
      Contracts listed in Schedule 7.11
      shall
      have been terminated by the Sellers.

     

    7.12 Business
      Material Adverse Effect.
      There
      shall have been no changes, developments or events since the date of this
      Agreement that have had or would reasonably be expected to have or result in
      a
      Business Material Adverse Effect.

     

    7.13 Certificate
      of Non-Foreign Status.
      The
      Purchaser shall have received from each Seller selling Assets that constitute
      “United States real property interests,” as defined in section 897(c) of the
      Code, a certificate of non-foreign status of such Seller that meets the
      requirements of Treasury Regulation section 1.1445-2(b).

     

    7.14 Resolution
      of Matters Related to the UBOB Operations.
      The
      Purchaser shall have received from Chemtura either of the items set forth on
      Schedule
      7.14.

     

    7.15 Asbestos
      Abatement.
      The
      Sellers shall have repaired those areas characterized on the asbestos survey
      from the Summer of 2006 as “needs repair or attention” and shall have delivered
      to the Purchaser documentation that such repairs had been completed, which
      documentation shall be reasonably satisfactory to the Purchaser.

     

    7.16 Title
      Commitments.
      A
      title
      insurance commitment reasonably acceptable to the Purchaser with respect to
      each
      of the Geismar Facility and the Monochem Facility (the “Title
      Commitments”)
      shall
      have been issued by an insurance company reasonably acceptable to the Purchaser
      pursuant to which such insurance company agrees that upon passage of the
      applicable Act of Cash Sale to the Purchaser, payment of the premium therefor
      (such premium to be paid 50% by the Purchaser and 50% by the Sellers at the
      Closing) and satisfaction of other standard conditions such insurance company
      shall issue the applicable owner and lender title insurance policies in standard
      ALTA form, each such set of policies to be in an amount equal to not less than
      the fair market value of the Geismar Facility or Monochem Facility, as
      applicable, determined as of the Closing Date, containing only such exceptions
      to title as are reasonably acceptable to the Purchaser with reasonable zoning
      and other endorsements, and copies of any Liens referenced therein that had
      not
      been previously made available to the Purchaser by the Sellers shall have been
      delivered to the Purchaser.

    

    
      
        
          
          

        

        
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    7.17 Surveys.
      A
      survey of each of the Geismar Facility and the Monochem Facility that satisfies
      the requirements set forth in Exhibit M
      shall
      have been delivered to the Purchaser and the applicable insurance company
      contemplated in Section 7.16
      at least
      15 Business Days prior to the Closing Date, with the cost of such surveys to
      be
      paid 50% by the Purchaser and 50% by the Sellers.

     

    7.18 Estimated
      Working Capital Amount.
      The
      Estimated Working Capital Amount shall be (a) no less than an amount equal
      to
      (i) the Net Working Capital Threshold Amount, less
      (ii)
      $5,000,000, and (b) no more than an amount equal to (i) the Net Working Capital
      Threshold Amount, plus
      (ii)
      $5,000,000. 

     

    7.19 Effect
      on EBITDA of the Business.
      No
      event, occurrence or circumstance shall have occurred since September 30, 2006
      that has had or would reasonably be expected to have an adverse affect on net
      recurring EBITDA of the Business by more than $1,000,000 annually or that has
      had or would reasonably be expected to have a net adverse effect of more than
      $2,000,000 on the Business.

     

    7.20 Permits.
      The
      Sellers shall have provided the Purchaser, not less than five Business
      Days prior to the Closing, with a schedule of the Permits that are scheduled
      to
      expire within the three-month period following the Closing.

     

    7.21 Chinese
      Joint Venture.
      Chemtura shall hold 100% of the equity interest in the Chinese Joint Venture
      free and clear of all Liens and shall have obtained the necessary Chinese
      Consents to acquire the 10% equity interest in the Chinese Joint Venture from
      China National Chemical Construction Jiangsu Company, and there shall be no
      existing Contracts (other than this Agreement) relating to the issuance, sale
      or
      transfer of any equity interest in the Chinese Joint Venture.

     

    7.22 Intellectual
      Property Rights Actions.
      The
      Purchaser shall have received from the Sellers an updated Schedule
      6.21
      that
      sets forth a true and complete list of all actions that, to the Sellers’
Knowledge, must be taken within six months following the Closing Date to
      maintain the existence or validity of the Registered Intellectual
      Property.

     

    7.23 Replacement
      Capital Analysis.
      The
      Purchaser shall have received from the Sellers a replacement capital analysis
      of
      the fixed assets located at the Geismar Facility, the scope of which analysis
      shall have been that which is customary in the industry for such fixed
      assets.

     

    ARTICLE
      8.

    CONDITIONS
      PRECEDENT TO OBLIGATIONS OF THE SELLERS

     

    The
      obligations each Seller to consummate the transactions contemplated by this
      Agreement are subject to the satisfaction or waiver by such Seller of the
      following conditions precedent on or before the Closing Date:

    

    
      
        
          
          

        

        
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      8.1 Representations
        and Warranties True.
        The
        representations and warranties of the Purchaser contained herein shall have
        been
        accurate, true and correct in all material respects on and as of the date
        hereof
        and, except to the extent that any such representation or warranty is expressly
        made solely as of the date hereof or as of another date earlier than the
        Closing
        Date, shall also be accurate, true and correct in all material respects on
        and
        as of the Closing Date.

       

    

    8.2 Compliance
      with Agreements and Covenants.
      The
      Purchaser shall have in all material respects performed and complied with all
      of
      its covenants and agreements contained in this Agreement to be performed and
      complied with by it on or prior to the Closing.

     

    8.3 Certificate
      of Compliance.
      The
      Purchaser shall have delivered to the Sellers a certificate of the Purchaser
      dated as of the Closing Date, executed by the Purchaser, certifying as to the
      satisfaction of the conditions set forth in Sections 8.1
      and
8.2.

     

    8.4 HSR
      Act; Premerger Notification Provisions; Brazil.
      (a) Any
      applicable waiting period under the HSR Act shall have expired or have been
      terminated without action by the Antitrust Division or the FTC to prevent
      consummation of the transactions contemplated hereby, (b) any waiting
      period or suspensory obligation under any Premerger Notification Provision
      shall
      have expired or been terminated, (c) all applicable filings, consents and
      approvals under any Premerger Notification Provision, the absence of which
      would
      prohibit the consummation of the transactions contemplated by this Agreement,
      shall have been made or obtained and (d) the notification of this Agreement
      shall have been made in Brazil to the Ministry of Justice of Brazil no later
      than the 15th business day after the date of execution and delivery of this
      Agreement.

     

    8.5 No
      Injunctions or Other Legal Restraints.
      No
      applicable Law, injunction or other legal restraint or prohibition enacted,
      entered, promulgated, enforced or issued by any Governmental Authority
      preventing the consummation of the Closing or all or any portion of the
      transactions contemplated hereby shall be in effect.

     

    8.6 Related
      Agreements.
      The
      form and substance of each Related Agreement (to the extent not attached as
      an
      Exhibit hereto) shall have been mutually agreed upon by the Purchaser and the
      Sellers, and the Sellers shall have received from the Purchaser a duly executed
      copy of each Related Agreement to which the Purchaser is a party.

     

    8.7 Consents.
      Chemtura shall have received all Consents required under the Receivables
      Securitization Agreements (including, where necessary, Consents of the
      applicable Persons to the repurchase by Chemtura of Accounts Receivable) for
      the
      consummation of the transactions contemplated by this Agreement from the
      applicable parties thereto and the release of all Liens in respect of any and
      all of the Assets subject to any Lien thereunder. 

     

    ARTICLE
      9.

    CLOSING

     

    9.1 Closing.
      Subject
      to Articles
      7
      and
8,
      the
      Closing shall take place at the offices of Mayer, Brown, Rowe & Maw
      LLP, 1675
      Broadway, New York, New York 10019 at 10:00 a.m. (eastern time) on the second
      Business Day after all the conditions set forth in Articles
      7
      and
8
      (other
      than conditions to be satisfied only by the delivery of certificates, or other
      documents at the Closing, which shall be satisfied or waived at the Closing)
      have been satisfied (or, to the extent permitted, waived by the parties entitled
      to the benefits thereof); provided
      that, at
      Chemtura’s or the Purchaser’s election, the Closing shall be deferred until the
      first day of the month following the month in which the Closing would otherwise
      occur. Once the Closing occurs, the Closing, and all transactions to occur
      at
      the Closing, shall be deemed to have taken place at, and shall be effective
      as
      of, 12:00:01 a.m. (eastern time) on the Closing Date. 

    

    
      
        
          
          

        

        
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    9.2 Deliveries
      by the Sellers.
      At the
      Closing, each Seller (as applicable) shall deliver to the Purchaser the
      following:

     

    (a) the
      Acts
      of Cash Sale duly executed by the applicable Sellers;

     

    (b) the
      Accounts Receivable Note duly executed by Chemtura;

     

    (c) the
      Assignment and Assumption Agreement duly executed by each Seller;

     

    (d) the
      Bill
      of Sale duly executed by each Seller;

     

    (e) the
      Chemtura Master Supply Agreement duly executed by Chemtura;

     

    (f) if
      determined by the parties to be necessary, the Foreign Implementation
      Agreements, duly executed by the applicable Seller(s);

     

    (g) the
      Ground Lease duly executed by Chemtura;

     

    (h) the
      License Agreements duly executed by the applicable Seller(s);

     

    (i) the
      Patent Assignment duly executed by the Sellers;

     

    (j) the
      Purchaser Master Supply Agreement duly executed by Chemtura;

     

    (k) the
      Trademark Assignment duly executed by the Sellers;

     

    (l) the
      Transition Services Agreement duly executed by Chemtura;

     

    (m) the
      certificates described in Section 7.3;

     

    (n) the
      FIRPTA certificates described in Section 7.13;

     

    (o) UCC-3
      amendments, assigning to the Purchaser any UCC-1s in favor of any Seller with
      respect to any consignment agreements that constitute Assets;

     

    (p) title
      certificates to any owned motor vehicles included in the Purchased Assets,
      duly
      executed by the applicable Seller;

     

    (q) an
      opinion of in-house counsel to the Sellers as to the matters set forth in
Exhibit
      N;

     

    (r) the
      title
      insurance policies referred to in Section
      7.16;

    

    
      
        
          
          

        

        
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    (s) the
      updated schedule described in Section
      7.22;

     

    (t) duly
      executed instruments of conveyance sufficient to validly transfer all of the
      equity interests in the Chinese Joint Venture, duly endorsed in blank for
      transfer;

     

    (u) resignations,
      effective as of the Closing Date, of the directors designated by Chemtura to
      the
      board of directors of the Chinese Joint Venture;

     

    (v) releases
      and terminations of any Liens on the Assets that are not Permitted
      Liens;

     

    (w) the
      Closing Proration Amount, if payable by the Sellers pursuant to Section 2.7;
      and

     

    (x) a
      certificate of the secretary or an assistant secretary of each Seller certifying
      resolutions of the board of directors (or similar governing body) of such
      Seller, approving and authorizing the execution, delivery and performance by
      such Seller of this Agreement and its respective Related Agreements and the
      consummation by such Seller of the transactions contemplated hereby and thereby,
      provided
      that
      such resolutions are required as a matter of Law or under such Seller’s
      governing documents (together with an incumbency and signature certificate
      regarding the officer(s) signing on behalf of such Seller).

     

    9.3 Deliveries
      by the Purchaser.
      At the
      Closing, the Purchaser shall deliver to the Sellers the following:

     

    (a) the
      Assignment and Assumption Agreement duly executed by the Purchaser;

     

    (b) the
      Bill
      of Sale duly executed by the Purchaser;

     

    (c) the
      Chemtura Master Supply Agreement duly executed by the Purchaser;

     

    (d) if
      determined by the parties to be necessary, the Foreign Implementation
      Agreements, duly executed by the Purchaser (or its designated
      Affiliate(s));

     

    (e) the
      Ground Lease duly executed by the Purchaser;

     

    (f) the
      License Agreements duly executed by the Purchaser;

     

    (g) the
      Purchaser Master Supply Agreement duly executed by the Purchaser;

     

    (h) the
      Transition Services Agreement duly executed by the Purchaser;

     

    (i) the
      Closing Proration Amount, if payable by the Purchaser pursuant to Section 2.7;

     

    (j) the
      Accounts Payable Note, duly issued by the Purchaser;

    

    
      
        
          
          

        

        
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    (k) the
      certificate described in Section 8.3;

     

    (l) a
      certificate of the secretary or an assistant secretary of the Purchaser
      certifying resolutions of the board of directors of the Purchaser approving
      and
      authorizing the execution, delivery and performance by the Purchaser of this
      Agreement and its Related Agreements and the consummation by the Purchaser
      of
      the transactions contemplated hereby and thereby (together with an incumbency
      and signature certificate regarding the officer(s) signing on behalf of the
      Purchaser); and

     

    (m) the
      Initial Purchase Price in accordance with Sections 3.1,
      3.2(a),
      (b)
      and
(c)(i)
      (if
      applicable) and 13.4.

     

    ARTICLE
      10.

    TERMINATION

     

    10.1 Termination.
      This
      Agreement may be terminated, and the transactions contemplated herein may be
      abandoned, at any time on or prior to the Closing:

     

    (a) with
      the
      mutual written consent of the Sellers and the Purchaser;

     

    (b) by
      either
      the Sellers or the Purchaser, if the Closing shall not have taken place on
      or
      prior to June 1, 2007; provided
      that the
      right to terminate this Agreement under this Section 10.1(b)
      shall
      not be available to (i) the Sellers if the failure of any Seller to fulfill
      any
      of its obligations under this Agreement caused the failure of the Closing to
      occur on or prior to such date or (ii) the Purchaser if the failure of the
      Purchaser to fulfill any of its obligations under this Agreement caused the
      failure of the Closing to occur on or prior to such date;

     

    (c) by
      either
      the Sellers or the Purchaser, if Chemtura and the Purchaser shall not have
      agreed to the forms of the Chemtura Master Supply Agreement, the Ground Lease,
      the License Agreements (other than the Chinese Trademark License Agreement)
      and
      the Transition Services Agreement on or prior to March 1, 2007; provided,
      that
      the right to terminate this Agreement under this Section 10.1(c)
      shall
      not be available to (i) the Sellers if the failure of any Seller to fulfill
      any of its obligations under this Agreement caused the failure to reach such
      agreement to the forms of such Related Agreements or (ii) the Purchaser if
      the failure of the Purchaser to fulfill any of its obligations under this
      Agreement caused the failure to reach such agreement to the forms of such
      Related Agreements;

     

    (d) by
      the
      Purchaser, if there shall have been a material breach of any representation
      or
      warranty of the Sellers hereunder which breach of such representation or
      warranty would reasonably be expected to have a Business Material Adverse
      Effect, or a material breach of any covenant or agreement of any Seller
      hereunder, and in each case such breach shall not have been remedied within
      30
      days after receipt by the Sellers of a notice in writing from the Purchaser
      specifying the breach and requesting such breach be remedied;

    

    
      
        
          
          

        

        
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    (e) by
      the
      Sellers, if there shall have been a material breach of any representation or
      warranty of the Purchaser hereunder, or a material breach of any covenant or
      agreement of the Purchaser hereunder, and such breach shall not have been
      remedied within 30 days after receipt by the Purchaser of notice in writing
      from
      the Sellers specifying the breach and requesting such breach be remedied;
      or

     

    (f) by
      either
      Purchaser or the Sellers if, but only to the extent: (i) there shall be any
      Law
      or regulation that makes the consummation of all of the transactions
      contemplated by this Agreement, finally and irrevocably illegal or otherwise
      prohibited or that prohibits the Business as a whole, immediately after the
      Closing, from being conducted as it is presently being conducted; or (ii)
      consummation of all of the transactions contemplated by this Agreement or the
      operation of the Business as a whole, immediately after the Closing, would
      violate any nonappealable final judgment of any Governmental Authority having
      competent jurisdiction.

     

    In
      the
      event of termination by the Sellers or the Purchaser pursuant to this
Section 10.1
      (other
      than Section 10.1(a)),
      written notice thereof shall be given to the other parties hereto.

     

    10.2 Effect
      of Termination.
      If this
      Agreement is terminated pursuant to Section 10.1,
      all
      obligations of the parties hereunder shall terminate, except for the obligations
      set forth in Sections 6.5
      (Brokers), 6.8
      (Confidentiality), 13.1
      (Expenses) and 13.8
      (Publicity), each of which shall survive the termination of this Agreement,
      and
      except that no such termination shall relieve any party from any Liability
      which
      such party may have to another party for Losses arising out of any
      misrepresentation or breach of this Agreement by such party which occurs on
      or
      before termination hereof.

     

    ARTICLE
      11.

    EMPLOYEES
      AND EMPLOYEE BENEFITS

     

    11.1 Offers
      of Employment.
      On or
      prior to the Closing Date and effective as of and conditioned upon the Closing,
      the Purchaser shall make offers of employment to each of the Business Employees
      other than (a) the Non-U.S. Employees and (b)  the individuals set
      forth on Schedule 11.1(a)
      (“Offered
      Employees”)
      at the
      same seniority level and base salary and/or base wages applicable to such
      Offered Employees immediately prior to the Closing and on such other terms
      and
      conditions, including the terms of employee benefit plans, programs, policies
      and arrangements that are substantially similar in the aggregate to the terms
      and conditions provided by the Sellers and their Affiliates to such Offered
      Employees immediately prior to the Closing and on such other terms and
      conditions as determined by the Purchaser (the “Offers
      of Employment”);
      provided,
      however,
      that
      the Purchaser shall not be required to implement or maintain any retention
      pay
      program or arrangement other than a program to effectuate the retention payments
      to the individuals and in the amounts set forth on Schedule
      11.5.
      Each
      such individual who accepts the Purchaser’s Offer of Employment shall become an
      employee of the Purchaser as of the Closing and shall be referred to herein
      as a
“Transferred
      Employee.”
Such
      Transferred Employees shall not have a guarantee of employment for any specific
      duration, and shall be considered at-will. The
      Sellers acknowledge that Offers of Employment made by the Purchaser in
      accordance with this Section 11.1
      shall
      satisfy the Purchaser’s obligations under this Section
      11.1
      including with respect to the individuals listed on Schedule
      11.1(b).
      The
      Offers of Employment shall be made in compliance with all applicable
      Laws.

    

    
      
        
          
          

        

        
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    11.2 Vesting
      and Service Credit.
      To the
      extent applicable with respect to employee benefit plans, programs and
      arrangements that are established or maintained by the Purchaser for the benefit
      of Transferred Employees, Transferred Employees (and their eligible dependents)
      shall be given credit for their service with the Sellers and their Affiliates
      (a) for purposes of vesting and eligibility under the retirement plan of the
      Purchaser that satisfies the requirements of section 401(a) of the Code,
      (b) for purposes of the Purchaser’s vacation plan and severance plan, (c) for
      purposes of eligibility requirements under the Purchaser’s welfare plans, and
      (d) for purposes of satisfying any waiting periods, evidence of insurability
      requirements, or the application of any pre-existing condition limitations
      and
      shall be given credit for amounts paid under a corresponding Seller Plan during
      the same period for purposes of applying deductibles, copayments and
      out-of-pocket maximums as though such amounts had been paid in accordance with
      the terms and conditions of the plans and arrangements maintained by the
      Purchaser. Notwithstanding the foregoing provisions of this Section 11.2,
      service
      and other amounts shall not be credited to Transferred Employees (or their
      eligible dependents) to the extent the crediting of such service or other
      amounts would result in a duplication of benefits.

     

    11.3 Non-U.S.
      Employees.
      Notwithstanding the provisions of Section 11.1,
      no
      later than February 23, 2007, the Purchaser shall notify the Sellers of each
      Non-U.S. Employee (other than the employees covered by Exhibit
      China
      or the
      UK Employees) to whom the Purchaser shall make an offer of employment effective
      as of the Closing Date. Each such offer of employment shall comply in all
      respects with the requirements of applicable local Law and the Sellers and
      the
      Purchaser agree to take any actions necessary to effect the transfers of
      employment of such employees from the Sellers to the Purchaser and to agree
      upon
      the terms and conditions of such transfers and other matters relating to such
      transfers, which terms and conditions may be set forth in an Employee Exhibit
      that will form a part of this Agreement and supersede any provisions of this
      Agreement that are inconsistent with any such Employee Exhibit; provided,
      however,
      that
      the Purchaser shall not be obligated to make an offer of employment to any
      Non-U.S. Employee (other than the employees covered by Exhibit
      China
      or the
      UK Employees) unless and until the Sellers and the Purchaser have agreed to
      an
      Employee Exhibit with respect to such Non-U.S. Employee.

     

    11.4 Severance
      Costs.

     

    (a) The
      Sellers agree to reimburse the Purchaser for severance costs for terminations
      up
      to 27 technician positions and five salaried positions of Transferred Employees
      (reduced by the number of terminations of employment in such categories made
      by
      the Sellers prior to the Closing Date) in the event that the termination occurs
      because the Purchaser stops producing the products set forth on Schedule
      11.4
      or any
      of the products to be supplied to Chemtura under the Purchaser Master Supply
      Agreement at the Geismar Facility within four months after the Closing Date.
      The
      Sellers shall have no obligation to reimburse the Purchasers for any amounts
      with respect to any individual pursuant to this Section
      11.4(a)
      unless,
      prior to such individual’s termination, (i) the Purchaser has used commercially
      reasonable efforts, as determined in good faith by the Purchaser, to offer
      employment to such individual at the Geismar Facility or the Purchaser’s Baton
      Rouge facility on terms and conditions that are no less favorable than those
      offered to such individual pursuant to Section
      11.1,
      (ii)
      after the exercise of such commercially reasonable efforts, the Purchaser is
      unable to employ such individual, and (iii) to the extent a release would be
      required under the applicable Chemtura Corporation Severance Plan, the
      individual signs a release substantially comparable to the form of release
      the
      Sellers have historically required under the applicable Chemtura Corporation
      Severance Plan, releasing the applicable Seller and its Affiliates and the
      Purchaser and its Affiliates from any liability or claims arising out of such
      individual’s employment with the applicable Seller or the Purchaser or the
      termination or transfer thereof. Notwithstanding the foregoing, no reimbursement
      obligation will arise under this Section
      11.4(a)
      with
      respect to any individual who continues to be employed by the Purchaser, and
      the
      Purchaser shall refund the Sellers any reimbursements made under this
Section
      11.4(a)
      with
      respect to any individual who becomes reemployed by Purchaser or any of its
      Affiliates or otherwise performs services in any capacity for the Purchaser
      or
      any of its Affiliates (whether as a consultant, independent contractor, advisor
      or otherwise), other than the performance of consulting services for a period
      of
      time not to exceed three months, within a 24-month period following the Closing
      Date.

     

    
      
        
          
          

        

        
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    (b) In
      the
      event that (i) any Business Employee (other than a Transferred Employee) or
      (ii)
      any individual who would have otherwise been considered a Business Employee
      but
      for the termination of such individual as contemplated by Section
      11.4(a)
      prior to
      the Closing (and provided that the Sellers have made the Purchaser aware of
      the
      identity of such individuals prior to the Closing) becomes an employee of the
      Purchaser or any of its Affiliates or otherwise performs services in any
      capacity for the Purchaser or any of its Affiliates (whether as a consultant,
      independent contract, advisor or otherwise) within the 24-month period following
      the Closing Date, and if such Business Employee received severance payments
      from
      the Sellers in connection with his or her termination of employment from the
      Sellers, the Purchaser shall reimburse the Sellers for any and all such
      severance costs; provided,
      however,
      that no
      reimbursement obligation will arise under this Section 11.4(b)
      with
      respect to any Business Employee who performs consulting services for the
      Purchaser or any of its Affiliates for a period of time not to exceed three
      months during such 24-month period. The Purchaser shall promptly inform the
      Sellers of any event that would entitle the Sellers to reimbursement pursuant
      to
      this Section
      11.4.

     

    11.5 Retention
      Payments.
      The
      Sellers have agreed to provide retention payments to the individuals and in
      the
      amounts set forth on Schedule
      11.5
      pursuant
      to the terms of the retention agreements set forth on Schedule
      4.17(a).
      The
      Purchaser agrees to pay such amounts in accordance with their terms and
      applicable Law and (i) the Sellers shall reimburse the Purchaser for
      one-half of the total amounts so paid to the affected individuals until the
      amount paid in connection with this Section
      11.5,
      net of
      such reimbursements by the Sellers, has reached $130,000 and then (ii) the
      Sellers shall reimburse the Purchaser for all of the total amounts so paid
      to
      the affected individuals.

     

    11.6 No
      Third Party Beneficiaries.
      No
      provision of this Article
      11
      or any
      Employee Exhibit shall create any third party beneficiary or other rights in
      any
      Person (including any Transferred Employee or any beneficiary or dependent
      thereof) in respect of continued employment (or resumed employment) with either
      the Purchaser or any of its Affiliates and no provision of this Article
      11
      or any
      Employee Exhibit shall create any such rights in any such Persons in respect
      of
      any benefits that may be provided, directly or indirectly, under any Seller
      Plan
      or any similar plan maintained by the Purchaser.

    

    
      
        
          
          

        

        
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    11.7 UK
      Employees and Other Non-U.S. Employee Matters.

     

    (a) The
      Sellers (on behalf of themselves and their Affiliates) and the Purchaser
      acknowledge that it is intended that EC Directive No. 2001/23, dated March
      12,
      2001, and domestic legislation implementing this directive into the national
      law
      of any country (collectively, the “Acquired
      Rights Directive”)
      shall
      apply to the transfer of the employment of those employees of the Sellers or
      their Affiliates who are wholly or mainly employed or engaged in the Business
      as
      of the Closing Date in the United Kingdom (the “UK
      Employees”)
      from
      the Sellers or their Affiliates to the Purchaser, which employees are listed
      on
Schedule
      11.7
      (which
      the Sellers represent as being true and accurate as of the date hereof). The
      Sellers (on behalf of themselves and their Affiliates) and the Purchaser further
      acknowledge that, in accordance with the Acquired Rights Directive, the
      employment of all the UK Employees shall transfer with effect from the Closing
      Date to the Purchaser and that each of the parties shall comply with their
      respective obligations under the Acquired Rights Directive and the Sellers
      shall
      cause their Affiliates to comply with their obligations under the Acquired
      Rights Directive. Schedule
      11.7
      lists
      all Foreign Benefit Plans applicable to the UK Employees.

     

    (b) Indemnification
      by Sellers.
      Subject
      to Section
      11.7(c),
      the
      Sellers shall indemnify the Purchaser against any Losses in connection with
      (i)
      any act or omission of the Sellers or their Affiliates prior to the Closing
      Date
      arising out of or relating to the employment of the UK Employees who transfer
      to
      the Purchaser under the Acquired Rights Directive; and (ii) any claim by a
      recognized trade union, works council, staff association or other
      representative, person or body, (whether elected or not) in respect of any
      UK
      Employee arising out of any failure on the part of the Sellers or their
      Affiliates to comply with its legal obligations to such union, council,
      association, representative body or person, unless such claim arose as a result
      of the failure by the Purchaser to comply with its obligations under the
      Acquired Rights Directive.

     

    (c) Indemnification
      by Purchaser.
      The
      Purchaser shall indemnify the Sellers against any Losses in connection with
      (i)
      any act or omission of the Purchaser before or after the Closing Date relating
      to the employment or termination of the employment of any of the UK Employees;
      (ii) any changes to the terms of employment of any of the UK Employees to their
      detriment which are made, proposed or anticipated to take effect on or after
      the
      Closing Date; and (iii) any claim by a recognized trade union, works council,
      staff association or other representative body or person (whether elected or
      not) in respect of the UK Employees arising out of the Purchaser's failure
      to
      comply with its legal obligations under the Acquired Rights
      Directive.

     

    (d) Other
      Non-U.S. Employee Matters.
      Schedule
      11.7
      contains
      a true and correct list of each Foreign Employee Benefit Plan applicable to
      the
      Non-U.S. Employees in the jurisdictions specified. 

    

    
      
        
          
          

        

        
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    ARTICLE
      12.

    INDEMNIFICATION

     

    12.1 Survival.
      The
      representations and warranties of the parties hereto contained herein shall
      survive the Closing for a period of 15 months after the Closing, except that
      (a)
      the representations and warranties in Section 4.19
      shall
      survive the Closing until the Tax Statute of Limitations Date and (b) Title
      and
      Authorization Warranties shall survive indefinitely. The covenants and
      agreements contained in this Agreement shall survive indefinitely, unless any
      such covenant or agreement terminates on an earlier date by its terms. No party
      hereto shall have any Liability with respect to claims first asserted with
      respect to any such representation, warranty, covenant or agreement after the
      survival period specified therefor in this Section 12.1.
      In the
      event written notice of any claim for indemnification hereunder shall have
      been
      given within the applicable survival period (and otherwise in accordance with
      this Agreement), the representations, warranties, covenants or agreements that
      are the subject of such indemnification claim shall survive (solely with respect
      to the subject matter of such indemnification claim) until such time as such
      claim is finally resolved in accordance with the terms hereof. If more than
      one
      survival period applies to a particular claim, the longest of such survival
      periods shall be the controlling survival period for such claim.

     

    12.2 Indemnification
      by the Sellers.
      Subject
      to Section 12.2(g)
      and
12.4,
      the
      Sellers, jointly and severally, agree to indemnify the Purchaser and its
      Affiliates (each, a “Purchaser
      Indemnified Party”)
      against, and agree to hold the Purchaser Indemnified Parties harmless from,
      any
      and all Losses incurred or suffered by the Purchaser Indemnified Parties to
      the
      extent arising out of, resulting from or relating to any of the
      following:

     

    (a) any
      breach of or any inaccuracy in any representation or warranty made by any Seller
      in this Agreement or in any Related Agreement;

     

    (b) any
      breach of or failure by any Seller to perform any covenant or agreement of
      such
      Seller set out in this Agreement or any Related Agreement;

     

    (c) any
      Excluded Asset;

     

    (d) any
      Retained Obligation;

     

    (e) any
      liability for Taxes with respect to the Chinese Joint Venture attributable
      to
      any Pre-Closing Tax Period or the portion of any Straddle Period ending on
      the
      day immediately preceding the Closing Date (determined in accordance with
Section 6.10(b))
      in
      excess of the amount reserved for such Tax liability as reflected in the Closing
      Statement; 

     

    (f) any
      noncompliance by any Seller with any Bulk Sales Laws or fraudulent transfer
      Law
      in respect of any of the transactions contemplated hereunder; or

    

    
      
        
          
          

        

        
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    (g) Notwithstanding
      any provision of this Agreement to the contrary, (i) the sole and exclusive
      remedy of any Purchaser Indemnified Party with respect to any Losses arising
      out
      of or relating to any capital expenditures that may be necessary (A) to
      resolve or abate Environmental Violations or matters of non-compliance with
      Environmental Law or (B) to restore the Business to compliance therewith
      shall be a claim for indemnification under Section
      12.2(a)
      for a
      breach of the representations or warranties set forth in Section
      4.21,
      which
      claim must be brought no later than the one year anniversary of the Closing
      Date, and no such claims may be brought by any Purchaser Indemnified Party
      under
Section
      12.9
      or any
      other subparagraph of Section
      12.2;
      and
      (ii) with respect to any Environmental Violation or matter of
      non-compliance with Environmental Law existing as of the Closing and continuing
      uninterrupted following the Closing that is (A) discovered by the Purchaser
      during the first year after the Closing Date, the sole and exclusive remedy
      of
      the Purchaser Indemnified Parties with
      respect to the period subsequent to the Closing (other
      than with respect to capital expenditures contemplated by clause
      (i)
      above)
      shall be recovery from the Sellers of any fines and penalties associated with
      such Environmental Violation or matter of non-compliance with Environmental
      Law
      incurred during the first year following the Closing, together with all
      reasonable attorney’s fees and consulting fees to address such non-compliance,
      or (B) discovered by the Purchaser after the first anniversary of the
      Closing Date, the sole and exclusive remedy of the Purchaser Indemnified Parties
      with respect to the period subsequent to the Closing shall be the costs of
      defending any claim or fines or penalties attributable to the first year of
      operation of the Business after the Closing. 

     

    For
      the
      avoidance of doubt (and other than as otherwise provided in Section
      12.2(g)),
      if a
      state of facts would allow a Purchaser Indemnified Party to seek indemnification
      under Section
      12.2(a)
      as well
      as any other subparagraph of this Section
      12.2
      or
Section
      12.9,
      the
      Purchaser Indemnified Party shall be entitled in its discretion to elect to
      seek
      indemnification under such other subparagraph or Section
      12.9.
      

     

    12.3 Indemnification
      by the Purchaser.
      The
      Purchaser agrees to indemnify the Sellers and their Affiliates (each, a
“Seller
      Indemnified Party”)
      against, and agrees to hold the Seller Indemnified Parties harmless from, any
      and all Losses incurred or suffered by the Seller Indemnified Parties to the
      extent arising out of, resulting from or relating to any of the
      following:

     

    (a) any
      breach of or any inaccuracy in any representation or warranty made by the
      Purchaser in this Agreement or any Related Agreement;

     

    (b) any
      breach of or failure by the Purchaser to perform any covenant or agreement
      of
      the Purchaser set out in this Agreement or any Related Agreement;

     

    (c) any
      Assumed Obligation;

     

    (d) the
      ownership and operation of the Business, or the ownership, operation, use or
      sale of the Assets, in each case from or after the Closing;

     

    (e) any
      Liability arising under any Business Guarantee; or

     

    (f) any
      and
      all Environmental Claims, Environmental Violations or Environmental Liabilities
      related to the Real Property constituting a part of the Assets or the operation
      of the Business to the extent such Environmental Claims, Environmental
      Violations or Environmental Liabilities are solely caused by post-Closing Date
      actions, circumstances or occurrences.

    

    
      
        
          
          

        

        
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    12.4 Limitations
      on Liability.
      Notwithstanding any other provision of this Agreement or any Related Agreement
      or any right or remedy available under any Law except insofar as is provided
      in
Section 12.9:

     

    (a) The
      Purchaser Indemnified Parties shall have the right to payment by the Sellers
      under Section 12.2(a)
      if, and
      then only to the extent that (after taking into account the other provisions
      of
      this Article
      12),
      the
      Purchaser Indemnified Parties shall have incurred indemnifiable Losses totaling
      $1,350,000 and then only with respect to indemnifiable Losses that exceed
      $10,000 from the first dollar of each such Loss (provided that a series of
      similar events, claims or items of Loss or damage can be aggregated together
      for
      purposes of this Section 12.4(a)
      and in
      particular for purposes of reaching such $10,000 threshold)); provided,
      however,
      that
      the limitations in this Section 12.4(a)
      shall
      not apply to claims or Losses arising from breaches of the Title and
      Authorization Warranties.

     

    (b) The
      Sellers shall have no Liability under or otherwise in connection with this
      Agreement or the Related Agreements or the transactions contemplated hereby
      or
      thereby in excess of 18% of the Purchase Price in the aggregate, except that
      (i)
      such limitation shall not apply to indemnifiable Losses (1) under Sections 12.2(b),
      (c),
      (d),
      (e),
      (f)
      or
(g),
      and (2)
      indemnifiable Losses arising from breaches of the Title and Authorization
      Warranties, in each such case for which there shall be no limit, and (ii) any
      indemnifiable Losses (1) under Sections 12.2(b),
      (c),
      (d),
      (e),
      (f)
      or
(g),
      and (2)
      arising from breaches of the Title and Authorization Warranties, shall not
      be
      applied towards such limit. For the avoidance of doubt, this Section 12.4(b)
      does not
      apply to the Sellers’ Liability under Section 12.9
      and
      amounts payable by the Sellers under Section 12.9
      do not
      apply to the limit set forth in this Section 12.4(b).

     

    (c) Except
      for any claims seeking equitable relief in connection with the failure of any
      party to perform its covenants or agreements hereunder or claims arising from
      fraud or willful misconduct, from and after the Closing, the provisions of
      Article
      3
      and the
      indemnification provisions set forth in this Article
      12
      and in
Sections 6.5
      and
11.7
      shall be
      the exclusive remedies of the parties hereto and their respective Affiliates
      with respect to any and all claims in respect of the subject matter of this
      Agreement or any Related Agreement or the transactions contemplated hereby
      or
      thereby (including for any breach of or inaccuracy in any representation or
      warranty or any non-compliance with or breach of or default in the performance
      of any of the covenants or agreements contained in this Agreement) and the
      parties shall not be entitled to any further indemnification, contribution,
      recovery or other rights or claims of any nature whatsoever in respect thereof
      (whether under this Agreement or any Related Agreement or under any common
      law
      theory or any statute or other Law, including any Environmental Law, or
      otherwise), all of which the parties hereto hereby waive.

     

    (d) Neither
      the Sellers nor any of their Affiliates shall have any Liability under or
      otherwise in connection with this Agreement or the Related Agreements or the
      transactions contemplated hereby or thereby for any Loss to the extent arising
      from a change in Law that becomes effective after the Closing. Notwithstanding
      anything to the contrary in this Agreement, as to Losses under this Agreement
      and any Related Agreement that are not Losses related to a Third Party Claim,
      such Losses shall exclude special, incidental, punitive, exemplary and
      consequential damages and lost profits.

    

    
      
        
          
          

        

        
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    12.5 Claims.
      As
      promptly as is reasonably practicable after becoming aware of a claim for
      indemnification under this Agreement not involving a Third Party Claim, but
      in
      any event no later than 15 Business Days after first becoming aware of such
      claim, the Indemnified Person shall give written notice to the Indemnifying
      Person of such claim in accordance herewith (the “Claim
      Notice”);
      provided,
      that
      the failure of the Indemnified Person to give such notice shall not relieve
      the
      Indemnifying Person of its obligations under this Article
      12
      except
      to the extent (if any) that the Indemnifying Person shall have been actually
      prejudiced thereby. The Claim Notice shall set forth in reasonable detail (i)
      the facts and circumstances giving rise to such claim for indemnification,
      including all relevant supporting documentation, (ii) the nature of the Losses
      suffered or incurred or expected to be suffered or incurred, (iii) a reference
      to the provisions of this Agreement, the Related Agreement or the certificate
      or
      instrument delivered in connection with this Agreement in respect of which
      such
      Losses have been suffered or incurred or are expected to be suffered or
      incurred, (iv) the amount of Losses actually suffered or incurred and, to the
      extent the Losses have not yet been suffered or incurred, a good faith estimate
      of the amount of Losses that could be expected to be suffered or incurred,
      and
      (v) information as may be necessary for the Indemnifying Person to determine
      that the limitations of Sections 12.4(a)
      and
(b)
      have
      been satisfied or do not apply.

     

    12.6 Notice
      of Third Party Claims; Assumption of Defense.
      The
      Indemnified Person shall give a Claim Notice (in the form contemplated by
Section 12.5)
      as
      promptly as is reasonably practicable, but in any event no later than 10
      Business Days after receiving notice thereof, to the Indemnifying Person of
      the
      assertion of any claim, or the commencement of any Proceeding, by any Person
      not
      a party hereto in respect of which indemnity may be sought under this Agreement
      (a “Third
      Party Claim”);
      provided,
      that
      the failure of the Indemnified Person to give such notice shall not relieve
      the
      Indemnifying Person of its obligations under this Article
      12
      except
      to the extent (if any) that the Indemnifying Person shall have been actually
      prejudiced thereby. The Indemnifying Person may, at its own expense, (a)
      participate in the defense of any such Third Party Claim and (b) upon notice
      to
      the Indemnified Person, at any time during the course of any such Third Party
      Claim, assume the defense thereof with counsel of its own choice and in the
      event of such assumption, shall have the exclusive right, subject to
clause
      (a)
      in the
      proviso in Section 12.7,
      to
      settle or compromise such Third Party Claim. If the Indemnifying Person assumes
      such defense, the Indemnified Person shall have the right (but not the duty)
      to
      participate in the defense thereof and to employ counsel, at its own expense,
      separate from the counsel employed by the Indemnifying Person (subject to the
      foregoing provisions of this Section 12.6).
      If the
      Indemnifying Party (i) shall fail to notify the Indemnified Party of its
      intent to exercise its rights to defend any Third Party Claim within 30 days
      after receipt of any Claim Notice with respect thereto or (ii) after commencing
      or undertaking any such defense or settlement, fails to diligently pursue or
      withdraws from such defense or settlement, the Indemnified Party shall have
      the
      right to undertake the defense or settlement thereof, at the Indemnifying
      Party’s expense. The Indemnified Party shall not, however, settle any Third
      Party Claim without the prior written consent of the Indemnifying Party (such
      consent not to be unreasonably withheld), absent which all rights against the
      Indemnifying Party for indemnification with respect to such Third Party Claim
      shall terminate and be deemed waived. Whether or not the Indemnifying Person
      chooses to defend or prosecute any such Third Party Claim, all of the parties
      hereto shall cooperate in the defense or prosecution thereof.

    

    
      
        
          
          

        

        
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    12.7 Settlement
      or Compromise.
      Any
      settlement or compromise made or caused to be made by the Indemnified Person
      (unless the Indemnifying Person has the exclusive right to settle or compromise
      under clause
      (b)
      of
Section 12.6)
      or the
      Indemnifying Person, as the case may be, of any such Third Party Claim shall
      require the Indemnifying Person’s or the Indemnified Person’s prior written
      consent (such consent not to be unreasonably withheld) and, if such consent
      has
      been given, shall be binding upon the Indemnifying Person or the Indemnified
      Person, as the case may be, in the same manner as if a final judgment or decree
      had been entered by a court of competent jurisdiction in the amount of such
      settlement or compromise; provided,
      that
      the Indemnified Person shall consent to any settlement, compromise or discharge
      of a Third Party Claim that the Indemnifying Person may recommend and that
      by
      its terms (a) does not provide for injunctive or other non-monetary relief
      adversely affecting the Indemnified Person, (b) includes the giving by the
      relevant claimant or plaintiff to the Indemnified Party of a full and
      unconditional release from all liability with respect to such Third Party Claim,
      and (c) does not require the Indemnified Party to contribute any moneys to
      the
      settlement, compromise or discharge of such Third Party Claim.

     

    12.8 Mitigation;
      Net Losses; Subrogation.
      Except
      with respect to any indemnification under Section 12.9
      herein:

     

    (a) Each
      Indemnified Person shall use commercially reasonable efforts to mitigate any
      Losses that such Indemnified Person asserts under this Article
      12.
      If an
      Indemnified Person shall fail to make such commercially reasonable efforts
      to
      mitigate any such Losses, then, notwithstanding anything to the contrary
      contained in this Agreement or any Related Agreement, no Indemnifying Person
      shall be required to indemnify any Indemnified Person for that portion of any
      Losses that could reasonably be expected to have been avoided if the Indemnified
      Person had made such efforts.

     

    (b) Notwithstanding
      anything contained herein to the contrary, the amount of any Losses incurred
      or
      suffered by any Indemnified Person shall be calculated after giving effect
      to
      any recoveries obtained by the Indemnified Person (or any of its Affiliates)
      from any other third party (including insurers) in respect of such Losses.
      Each
      Indemnified Person shall exercise commercially reasonable efforts to obtain
      such
      recoveries. If any such recoveries are received by an Indemnified Person (or
      any
      of its Affiliates) with respect to any Losses after an Indemnifying Person
      has
      made a payment to the Indemnified Person with respect thereto, the Indemnified
      Person (or such Affiliate) shall promptly pay to the Indemnifying Person the
      amount of such recoveries (up to the amount of the Indemnifying Person’s
      payment).

     

    (c) Upon
      making any payment to an Indemnified Person in respect of any Losses, the
      Indemnifying Person will, to the extent of such payment, be subrogated to all
      rights of the Indemnified Person (and its Affiliates) against any third party
      in
      respect of the Losses to which such payment relates. Such Indemnified Person
      (and its Affiliates) and Indemnifying Person will execute upon request all
      instruments reasonably necessary to evidence or further perfect such subrogation
      rights.

    

    
      
        
          
          

        

        
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    12.9 Environmental
      Indemnification.
      With
      respect to any Environmental Claim or Environmental Liability for which
      indemnification is sought pursuant to this Agreement by either the Purchaser
      or
      the Sellers, the provisions of this Section
      12.9
      set
      forth the understandings of the parties therewith.

     

    (a) Notwithstanding
      any other provision of this Agreement to the contrary, except as provided in
      Section
      12.9(c),
      the
      Sellers are solely responsible for and shall defend, indemnify and hold harmless
      the Purchaser, without regard to any limit on time or any dollar limit
      whatsoever, against all Environmental Claims, Environmental Liabilities, or
      Losses arising out of, related to, or based on:

     

    (i) All
      Known
      Pre-Closing Environmental Liabilities;

     

    (ii) All
      of
      Sellers’ Offsite Environmental Liabilities; and

     

    (iii) Any
      Releases of Hazardous Substances that were used by the Sellers or the Chinese
      Joint Venture in their operations but that were never used by the Purchaser
      or
      any subsequent owner or operator;

     

    provided,
      however,
      solely
      with respect to the Geismar Response Action Costs, if the surrounding facts
      and
      circumstances show that such Environmental Claims, Environmental Liabilities
      or
      Losses were aggravated or worsened, in whole or in part, because of the actions
      or omissions of the Purchaser or any Release of Hazardous Substances arising
      out
      of the Purchaser’s operations after the Closing, the Purchaser shall bear the
      responsibility for assuming and defending, indemnifying and holding the Sellers
      harmless against such Environmental Claims, Environmental Liabilities or Losses
      but only to the extent of any increase in costs that are caused by such
      aggravation or worsening; provided,
      further,
      that if
      the Purchaser wishes to construct any additions or modifications to the Geismar
      Facility (i) in the area of the Geismar Landfill or the Fire Pond Buried
      Drum Area as identified in the Geismar Facility Phase II (the
      “Restricted
      Areas”)
      and
      such additions or modifications increase the Sellers’ indemnification
      obligations under Section
      12.9(a)(i)
      or
(iii),
      then
      the Purchaser shall bear the responsibility for assuming and defending,
      indemnifying and holding the Sellers harmless against such Environmental
      Liabilities, Environmental Claims or Losses, but only to the extent of any
      increase in costs that are caused by any aggravation or worsening arising from
      such additions or modifications and (ii) in an area that is not a
      Restricted Area but in which there is either Known Pre-Closing Environmental
      Liabilities or Unknown Pre-Closing Environmental Liabilities, then, at the
      Sellers’ option, (A) the Purchaser shall relocate the construction of such
      addition or modification to another area of the Geismar Facility reasonably
      acceptable to the Sellers, and the Sellers, on the one hand, and the Purchaser,
      on the other hand, shall each bear 50% of the incremental capital costs of
      such
      relocation or (B) the Sellers may consent to such construction, in which
      case the Sellers, on the one hand, and the Purchaser, on the other hand, shall
      each bear 50% of any increase in costs that is caused by any aggravation or
      worsening arising from such additions or modifications. 

    

    
      
        
          
          

        

        
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    (b) Except
      as
      provided in Section
      12.9(c),
      the
      Sellers are solely responsible for and shall defend, indemnify and hold harmless
      the Purchaser, without regard to any limit on time or any dollar limit
      whatsoever, against all Environmental Claims, Environmental Liabilities, or
      Losses arising out of, related to, or based on all Unknown Pre-Closing
      Environmental Liabilities, to the extent that they are presented to the Sellers
      by the Purchaser within 15 years of the Closing Date; provided,
      however,
      solely
      with respect to the Geismar Response Action Costs, if the surrounding facts
      and
      circumstances show that such Environmental Claims, Environmental Liabilities
      or
      Losses were aggravated or worsened, in whole or in part, because of the actions
      or omissions of the Purchaser or any Release of Hazardous Substances arising
      out
      of the Purchaser’s operations after the Closing, the Purchaser shall bear the
      responsibility for assuming and defending, indemnifying and holding the Sellers
      harmless against such Environmental Claims, Environmental Liabilities or Losses
      but only to the extent of any increase in costs that are caused by such
      aggravation or worsening;

     

    (c) The
      Purchasers shall be solely responsible for and shall defend, indemnify and
      hold
      the Sellers harmless against:

     

    (i) any
      and
      all Unknown Pre-Closing Environmental Liabilities that arise more than 15 years
      after the Closing Date;

     

    (ii) all
      Geismar Response Action Costs arising solely out of the actions or omissions
      of
      the Purchaser in its operations after the Closing Date; and

     

    (iii) other
      than the Geismar Response Action Costs, all Environmental Liabilities,
      Environmental Claims or Losses arising out of the actions or omissions of the
      Purchaser in its operations after the Closing Date (for the avoidance of doubt,
      to the extent any workers compensation claim or claim for personal injury or
      property damage based on or arising out of exposure to Hazardous Substances
      involves potential liability against both the Sellers and the Purchaser, then
      the Environmental Liabilities, Environmental Claims or Losses related to the
      same are to be divided between the Sellers, on the one hand, and the Purchaser,
      on the other hand, according to their respective proportionate shares).

     

    For
      purposes of this Section
      12.9(c),
      the
“Purchaser” shall refer to the Purchaser or any subsequent owner or operator.

     

    (d) The
      Geismar Response Actions and any other actions to address matters that fall
      within subsections (a),
      (b)
      and
(c)
      above
      shall be conducted as set forth on Schedule
      12.9(a).

     

    (e) Any
      Environmental Claims that are asserted against the Sellers or the Purchaser
      shall be governed by the provisions of Sections
      12.5,
      12.6
      and
12.7
      herein.

     

    (f) For
      the
      avoidance of doubt and notwithstanding any other provision of this Agreement
      or
      any right or remedy available under any Law, and expressly waiving any statutory
      and common law claims for indemnification or contribution, however arising,
      the
      Sellers and the Purchaser agree that the sole remedy of any of them (or any
      of
      their respective Affiliates) as to any claim with respect to those matters
      falling within Section
      12.9(a),
      12.9(b)
      or
12.9(c)
      shall be
      what is set forth in this Section
      12.9
      and the
      associated Schedule.

    

    
      
        
          
          

        

        
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    (g) Before
      proceeding with any transfer to any third party of any of its responsibilities
      or obligations under this Agreement with respect to any Known Pre-Closing
      Environmental Liabilities or Unknown Pre-Closing Environmental Liabilities,
      the
      Sellers shall obtain the consent of the Purchaser, which consent shall not
      be
      unreasonably withheld.

     

    12.10 Purchase
      Price Adjustments.
      To the
      extent permitted by Law, any amounts payable under Section 12.2
      or
12.3
      shall be
      treated by the Purchaser and the Sellers as an adjustment to the Purchase
      Price.

     

    ARTICLE
      13.

    MISCELLANEOUS

     

    13.1 Expenses.
      Except
      as contemplated by Section 3.2(c)(iv),
      3.4,
      6.10(d),
      7.16
      or
7.17,
      each
      party hereto shall bear its own fees and expenses with respect to the
      transactions contemplated hereby; provided,
      however,
      that
      the Sellers, on the one hand, and the Purchaser, on the other hand, shall share
      equally all filing fees associated with the filings required by Section 6.3(b).

     

    13.2 Amendment.
      Except
      as provided in Section 13.17,
      this
      Agreement may be amended, modified or supplemented only in a writing signed
      by
      the Purchaser and the Sellers.

     

    13.3 Notices.
      Any
      notice, request, instruction or other document to be given hereunder by a party
      hereto shall be in writing and shall be deemed to have been given, (a) when
      received if given in person or by courier or a courier service, or (b) on the
      date of transmission if sent by facsimile transmission (receipt confirmed)
      on a
      Business Day during the normal business hours of the intended recipient, and
      if
      not so sent on such a day and at such a time, on the following Business
      Day:

     

    (i) If
      to the
      Purchaser, addressed as follows:

     

    c/o
      Lion
      Chemical Capital, LLC

    9720
      Cypresswood Drive, Suite 212

    Houston,
      Texas 77070

    Attention: Peter
      DeLeeuw

    Facsimile: (281)
      807-2646

     

    with
      a
      copy to:

     

    Vinson
      & Elkins LLP

    1455
      Pennsylvania Avenue N.W.

    Suite
      600

    Washington,
      D.C. 20004-1008

    Attention: Jay
      H.
      Hebert

    Facsimile: (202)
      879-8901

    

    
      
        
          
          

        

        
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    (ii) If
      to any
      Seller, addressed as follows:

     

    c/o
      Chemtura Corporation

    Benson
      Road

    Middlebury,
      CT 06749

    Attention: General
      Counsel

    Facsimile: (203)
      573-4301

     

    with
      a
      copy to:

     

    Mayer,
      Brown, Rowe & Maw LLP 

    71
      South
      Wacker Drive

    Chicago,
      IL 60606

    Attention: Scott
      J.
      Davis and Jennifer L. Keating

    Facsimile: (312)
      701-7711

     

    or
      to
      such other individual or address as a party hereto may designate for itself
      by
      notice given as herein provided.

     

    13.4 Payments
      in Dollars.
      Except
      as otherwise provided herein or in a Related Agreement, all payments pursuant
      hereto shall be made by wire transfer in United States dollars in same day
      or
      immediately available funds without any set-off, deduction or counterclaim
      whatsoever.

     

    13.5 Waivers.
      Except
      as otherwise provided in Article
      12,
      the
      failure of a party hereto at any time or times to require performance of any
      provision hereof or claim damages with respect thereto shall in no manner affect
      its right at a later time to enforce the same. No waiver by a party of any
      condition or of any breach of any representation, warranty, covenant or
      agreement contained in this Agreement shall be effective unless in writing,
      and
      no waiver in any one or more instances shall be deemed to be a further or
      continuing waiver of any such condition or breach in other instances or a waiver
      of any other condition or breach of any other representation, warranty, covenant
      or agreement.

     

    13.6 Binding
      Effect; Assignment.

     

    (a) This
      Agreement shall be binding upon and inure to the benefit of the parties hereto
      and their respective successors and permitted assigns. Subject to paragraph
      (c)
      and
      except as provided below, no assignment of this Agreement or any rights or
      obligations hereunder (and, in the case of the Purchaser, no Proposed Transfer)
      may be made by any party without the prior written consent of the other parties
      (which consent shall not be unreasonably withheld, conditioned or delayed),
      except that (i) prior to the Closing any party hereto may assign all or any
      portion of its rights or obligations hereunder to an Affiliate of such party
      (but no such assignment shall relieve the assigning party of its obligations
      hereunder), and (ii) the Purchaser may collaterally assign its rights and
      remedies hereunder (including its right, title and interest in and to any and
      all sums due from any Seller pursuant hereto) to financial institutions that
      are
      to provide or are providing sources of financing in connection with the
      acquisition of the Assets and/or their collateral or administrative
      agent(s).

    

    
      
        
          
          

        

        
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    (b) If
      the
      Purchaser wishes to effect a Proposed Transfer, it shall deliver to Chemtura
      a
      written request for consent to such Proposed Transfer, which shall include
      the
      identity of the proposed transferee and the principals and management thereof
      and such other information reasonably necessary to allow Chemtura to evaluate
      the request (such as, if known, the individuals who will be operating the
      acquired portion of the Business). Within 10 Business Days after receipt by
      Chemtura of such written request, Chemtura shall notify the Purchaser in writing
      if it elects to withhold its consent to the Proposed Transfer (including
      Chemtura’s reasons therefor in reasonable detail). Chemtura shall be deemed to
      have approved any Proposed Transfer if Chemtura fails to respond to the
      Purchaser’s written request for consent within such 10 Business Day period, and
      shall be deemed to have waived any right to object to such Proposed Transfer
      hereunder. Chemtura acknowledges that the Purchaser may request consent to
      a
      Proposed Transfer prior to the negotiation of a definitive purchase and sale
      agreement with respect to such Proposed Transfer. A “Proposed
      Transfer”
shall
      mean (i) a transfer or assignment (other than a collateral assignment of
      the Purchaser’s rights and remedies hereunder as permitted pursuant to
Section
      13.6(a))
      of all
      or substantially all of the EPDM Business, the Rubber Chemicals Business, the
      Monochem Business or the Chinese Joint Venture, or any combination thereof
      (whether by purchase of equity interests, purchase of assets, merger or other
      form of transaction); or (ii) the issuance or transfer in one or a series
      of transactions of any ownership interest in the Purchaser (directly or
      indirectly) that results in a Person that does not currently own an interest
      in
      the Purchaser owning (directly or indirectly) 50% or more of the ownership
      interest in the Purchaser.

     

    (c) Chemtura
      shall be deemed to have acted reasonably in withholding its consent to any
      assignment of this Agreement or any rights or obligations hereunder by the
      Purchaser or to any Proposed Transfer if (i) the proposed assignee or
      transferee (or its principals or employees) has a history of demonstrating
      significant deficiencies in operations or environmental compliance or
      (ii) the assignment of this Agreement or any rights or obligations
      hereunder is requested other than in connection with the sale of all or
      substantially all of the EPDM Business, the Rubber Chemicals Business, the
      Monochem Business or the Chinese Joint Venture, or any combination of them
      (whether by purchase of equity interests, purchase of assets, merger or other
      form of transaction). If Chemtura reasonably withholds its consent to a Proposed
      Transfer and the Purchaser nevertheless effects such Proposed Transfer, the
      Sellers’ indemnification obligations set forth in Article
      12
      shall
      terminate with respect to any claims not yet asserted by the Purchaser
      Indemnified Parties, and thereafter none of the Purchaser Indemnified Parties
      nor any of the Purchaser’s successors or assigns shall have any further claims
      against the Sellers for indemnifiable Losses pursuant to Article
      12
      (and the
      Purchaser shall have irrevocably waived any such claim).

     

    (d) In
      connection with any permitted assignment of this Agreement or any rights or
      obligations hereunder, the applicable assignee shall expressly assume the
      obligations of the assigning party under this Agreement by execution of an
      assignment and assumption agreement in form and substance reasonably
      satisfactory to the non-assigning party. The restrictions on assignment and
      transfer in this Section 13.6
      shall
      continue for each and every subsequent assignment of any entity’s interest in
      this Agreement and any subsequent assignee or transferee of this Agreement
      shall
      notify any potential assignee or transferee of this obligation.

    

    
      
        
          
          

        

        
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    13.7 No
      Third Party Beneficiaries.
      This
      Agreement is solely for the benefit of the parties hereto and, to the extent
      expressly provided herein, their respective Affiliates, and no provision of
      this
      Agreement shall be deemed to confer upon any third party any remedy, claim,
      Liability, reimbursement, cause of action or other right.

     

    13.8 Publicity.
      Each of
      the parties agrees that it shall not disclose publicly the existence or terms
      of
      this Agreement or any of the Related Agreements or the transactions contemplated
      hereby or thereby (or permit any of its Affiliates or representatives to make
      any such public disclosure); provided,
      however,
      that
      (a) a party (or its Affiliate) may, without the prior consent of any other
      party, issue such public disclosure as may be required by applicable Law or
      any
      rule of any securities exchange or market to which the disclosing party is
      subject and (b) the Purchaser shall be permitted to disclose this
      Agreement, to the extent reasonably necessary and under terms of confidentiality
      at least as restrictive as those contained in the Confidentiality Agreement,
      to
      any financial institution or lender or potential equity investor who is
      investigating the provision of financing to or investment in the equity of
      the
      Purchaser. Without limiting the foregoing, each party shall (and shall cause
      its
      Affiliates and representatives to) consult with the others before issuing (or
      before any of its Affiliates issues) any press release or public statement
      with
      respect to this Agreement or any of the Related Agreements or the transactions
      contemplated hereby or thereby, and provide the others the reasonable
      opportunity to review and offer comments upon such release or statement (which
      need not be accepted by the issuing party or its Affiliate or
      representative).

     

    13.9 Further
      Assurances.
      In case
      at any time after the Closing any further action is necessary or desirable
      to
      carry out the purposes of this Agreement, the Sellers and the Purchaser will
      take such further action (including the execution and delivery of such further
      instruments and documents) as any other party reasonably may request, all at
      the
      sole cost and expense of the requesting party (unless the requesting party
      is
      entitled to indemnification therefor under Article 12).

     

    13.10 Severability.
      If any
      provision of this Agreement shall be held invalid, illegal or unenforceable,
      the
      validity, legality or enforceability of the other provisions hereof shall not
      be
      affected thereby, and there shall be deemed substituted for the provision at
      issue a valid, legal and enforceable provision as similar as possible to the
      provision at issue.

     

    13.11 Entire
      Understanding.
      This
      Agreement, the Related Agreements, the SAP Letter Agreement and the
      Confidentiality Agreement set forth the entire agreement and understanding
      of
      the parties hereto with respect to the transactions contemplated hereby and
      thereby and supersede any and all prior agreements, arrangements and
      understandings among the parties relating to the subject matter
      hereof.

    

    
      
        
          
          

        

        
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    13.12 Language.
      The
      Sellers and the Purchaser agree that the language used in this Agreement is
      the
      language chosen by the parties to express their mutual intent, and that no
      rule
      of strict construction is to be applied against any Seller or the Purchaser.
      Each of the Sellers and the Purchaser and their respective counsel have reviewed
      and negotiated the terms of this Agreement.

     

    13.13 Applicable
      Law.
      This
      Agreement shall be governed by and construed and enforced in accordance with
      the
      internal laws of the State of New York.

     

    13.14 Remittances.
      All
      remittances, payments, mail and other communications relating to the Assets
      or
      the Assumed Obligations received by any Seller at any time after the Closing
      Date shall be promptly turned over to the Purchaser by such Seller. All
      remittances, payments, mail and other communications relating to the Excluded
      Assets or the Retained Obligations received by the Purchaser at any time after
      the Closing Date shall be promptly turned over to the applicable Seller by
      the
      Purchaser.

     

    13.15 Bulk
      Sales.
      The
      Purchaser hereby waives compliance by the Sellers with the provisions of the
      Laws of any jurisdiction relating to a bulk sale or transfer of assets that
      may
      be applicable to the transfer of the Assets.

     

    13.16 Jurisdiction
      of Disputes; Waiver of Jury Trial.
      Each
      party to this Agreement hereby (a) agrees that any Proceeding in connection
      with
      or relating to this Agreement, any Related Agreement or any matters contemplated
      hereby or thereby, shall be brought by any party solely in a court of competent
      jurisdiction located within the County of New York, in the State of New York,
      whether a state or federal court; (b) agrees that in connection with any such
      Proceeding or action, it will consent and submit to personal jurisdiction in
      any
      such court described in clause
      (a)
      of this
Section 13.16
      and to
      service of process upon it in accordance with the rules and statutes governing
      service of process; (c) agrees to waive to the full extent permitted by Law
      any
      objection that it may now or hereafter have to the venue of any such Proceeding
      in any such court or that any such Proceeding was brought in an inconvenient
      forum; (d) designates, appoints and directs CT Corporation System as its
      authorized agent to receive on its behalf service of any and all process and
      documents in any such litigation, proceeding or action in the County of New
      York, in the State of New York; (e) agrees to notify the other parties to this
      Agreement immediately if such agent shall refuse to act, or be prevented from
      acting, as agent and, in such event, promptly to designate another agent in
      the
      County of New York, in the State of New York to serve in place of such agent
      and
      deliver to the other parties written evidence of such substitute agent’s
      acceptance of such designation; (f) agrees as an alternative method of service
      to service of process in any such litigation, proceeding or action by mailing
      of
      copies thereof to it at its address set forth in Section 13.3;
      (g)
      agrees that any service made as provided herein shall be effective and binding
      service in every respect; and (h) agrees that nothing herein shall affect the
      rights of any party to effect service of process in any other manner permitted
      by Law. EACH PARTY HERETO IRREVOCABLY AND ABSOLUTELY WAIVES THE RIGHT TO A
      TRIAL
      BY JURY IN ANY DISPUTE IN CONNECTION WITH, ARISING UNDER OR RELATING TO THIS
      AGREEMENT, ANY RELATED AGREEMENT OR ANY MATTERS CONTEMPLATED HEREBY OR THEREBY,
      AND AGREES TO TAKE ANY AND ALL ACTION NECESSARY OR APPROPRIATE TO EFFECT SUCH
      WAIVER.

    

    
      
        
          
          

        

        
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    13.17 Schedules;
      Communication.

     

    (a) Any
      information disclosed pursuant to any Schedule hereto shall be deemed to be
      disclosed to the Purchaser for all purposes of this Agreement and the Related
      Agreements to the extent the relationship of such matter to such other Schedule
      is reasonably apparent on its face. Neither the specification of any Dollar
      amount or any item or matter in any provision of this Agreement or any Related
      Agreement nor the inclusion of any specific item or matter in any
      Schedule hereto or thereto is intended to imply that such amount, or higher
      or lower amounts, or the item or matter so specified or included, or other
      items
      or matters, are or are not material, and no party shall use the fact of the
      specification of any such amount or the specification or inclusion of any such
      item or matter in any dispute or controversy between the parties as to whether
      any item or matter is or is not material for purposes of this Agreement or
      any
      Related Agreement. Neither the specification of any item or matter in any
      provision of this Agreement or any Related Agreement nor the inclusion of any
      specific item or matter in any Schedule hereto or thereto is intended to imply
      that such item or matter, or other items or matters, are or are not in the
      ordinary course of business, and no party shall use the fact of the
      specification or the inclusion of any such item or matter in any dispute or
      controversy between the parties as to whether any item or matter is or is not
      in
      the ordinary course of business for purposes of this Agreement or any Related
      Agreement.

     

    (b) From
      the
      date of this Agreement until the Closing Date, the Sellers and the Purchaser
      agree to communicate in good faith regarding the Business and the transactions
      contemplated hereby and to discuss any material events or developments relating
      to the Business or the Assets. Notwithstanding the foregoing, the Purchaser
      agrees that it shall not assert any claim against any Seller for breach of
      this
      provision and that no breach or alleged breach of this provision shall be
      considered in determining whether the condition set forth in of
      Section 7.2
      has been
      satisfied.

     

    13.18 Disclaimer
      of Warranties.
      The
      Sellers make no representations or warranties with respect to any projections,
      forecasts or forward-looking statements made available to the Purchaser,
      including the 2007 Budget. There is no assurance that any projected or
      forecasted results will be achieved. Except to the extent of the express
      representations and warranties contained in Article
      4,
      the
      Sellers are selling the Assets on an “as is, where is” basis and disclaim all
      other warranties and representations, whether express or implied. The Sellers
      make no representations or warranties as to merchantability or fitness for
      any
      particular purpose and no implied representations or warranties, and disclaim
      all such representations and warranties. The Purchaser understands and
      acknowledges that except for the representations and warranties expressly set
      forth in this Agreement, none of the Sellers or any of their Representatives
      has
      made any representation or warranty, express or implied, as to the accuracy
      or
      completeness of any memoranda, charts, summaries, schedules or other
      information, written or oral, heretofore made available to the Purchaser or
      its
      Representatives by or on behalf of the Sellers (the “Evaluation
      Material”).
      The
      Purchaser agrees that none of the Sellers or their Representatives shall have
      any Liability to the Purchaser or any of its Representatives relating to or
      resulting from the use of the Evaluation Material or any errors therein or
      omissions therefrom, except for any liability resulting from the breach of
      the
      representations, warranties, covenants and agreements set forth in this
      Agreement. The Purchaser also agrees that, except for the representations and
      warranties expressly set forth in this Agreement, neither it nor any of its
      Representatives has relied upon any representations or warranties of any nature
      made by or on behalf of or imputed to any Seller or any of its Representatives,
      and the Purchaser acknowledges that, in entering into this Agreement and the
      Related Agreements, it has relied solely on its own investigation of the Sellers
      and the Business and the representations or warranties expressly set forth
      in
      this Agreement, subject to the limitations and restrictions specified
      herein.

    

    
      
        
          
          

        

        
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    13.19 Counterparts.
      This
      Agreement may be executed in counterparts, each of which shall be deemed an
      original, but all of which together shall constitute one and the same
      instrument.

     

    *
      *
      *

    

    
      
        
          
          

        

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

    
      	 	 	 
	 	
              LION
                COPOLYMER, LLC

            
	 	 
	 	By:
	 	Its:
	 	 	 
	
            	By:  	
            
	 	 	
              
Name:
	 	 	Title:
	 	 	 
	 	 
	 	CHEMTURA
              CORPORATION
	 	 	 
	 	By:  	 
	 	 	
              

              Name:

            
	 	 	Title:
	 	 	 
	 	 	 
	 	
              CHEMTURA
                CANADA CO./CIE

            
	 	 	 
	 	By:	 
	 	 	
              

              Name:

            
	 	 	
              Title:

            
	 	 	 
	 	 	 
	 	
              CHEMTURA
                INDUSTRIA QUIMICA DO BRASIL LIMITADA

            
	 	 	 
	 	By:	 
	 	 	
              

              Name:

            
	 	 	Title:
	 	 	 
	 	By:	 
	 	
              

              Name:

            
	 	Title:

    

     

     Signature
      Page to Asset Purchase and Sale Agreement

     

    
      
        
           

        

        
          
          

          
            

          

        

         

      

    

     

    
      	 	 	 
	 	CHEMTURA
              ITALY S.R.L
	 	 	 
	
            	By:  	
            
	 	 	
              

              Name:

            
	 	 	Title:
	 	 	 
	 	 	 
	 	
              CHEMTURA
                CORPORATION, S.A. DE C.V.

            
	 	 	 
	 	By:	 
	 	 	
              
Name:
	 	 	Title:
	 	 	 
	 	By: 	 
	 	 	
              
Name:
	 	 	Title:
	 	 	 
	 	 	 
	 	
              CHEMTURA
                NETHERLANDS B.V.

            
	 	 	 
	 	By:	 
	 	 	
              
Name:
	 	 	Title:
	 	 	 
	 	By: 	 
	 	 	
              
Name:
	 	 	Title:
	 	 	 
	 	 	 
	 	
              MONOCHEM,
                INC.

            
	 	 	 
	 	By: 	 
	 	 	
              
Name:
	 	Title:

    

    
       

      Signature
        Page to Asset Purchase and Sale Agreement

       

    

    
      
        
          
          

        

        
          
          

          
            

          

        

         

      

    

     

    
      	 	 	 
	 	UNIROYAL
              CHEMICAL TAIWAN LTD. 
	 	 
	 	By:
	 
 	 
 	 
 
	
            	By:  	
            
	 	
              
Name:
	 	Title:

    

    
       

      Signature
        Page to Asset Purchase and Sale Agreement

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00116-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00116-of-00352.parquet"}]]