Document:

Nayna
        Networks, Inc.

      4699
        Old
        Ironsides Drive, Suite 420

      Santa
        Clara, CA 95054

      Phone
        (408) 956-8000 

      Fax
        (408)
        956-8730

       

      Nayna
        Networks Signs Amendment to Abundance Networks Acquisition
        Agreement

    

    

      Substantial
      Reduction In The Expected Number Of Shares To Be Issued to Abundance
      Networks

      

    Santa
      Clara, Calif., USA - April 25, 2007 -
      Nayna Networks, Inc.,
      (OTCBB:
      NAYN),
      a
      provider of next generation network solutions headquartered in Santa Clara,
      California, today announced that it has signed a Second Amendment to Asset
      Purchase Agreement by and among Nayna Networks, Inc, a Nevada Corporation,
      Abundance Networks, Inc., a Delaware Corporation and wholly owned subsidiary
      of
      Nayna, Abundance Networks, LLC, a Delaware LLC, and Abundance Networks (India)
      Pvt. Ltd, a wholly owned subsidiary of Abundance Networks LLC. 

    

    Per
      amended agreement, Nayna shall issue 4,500,000 shares of Common Stock to Seller
      on or before April 30, 2007, which substantially reduces from approximately
      58
      Million shares otherwise Nayna was expected to issue based upon the true up
      value clause per the Original Agreement signed dated December 2005.

    

    About
      Nayna Networks, Inc.

    

    Nayna
      Networks, Inc. delivers next generation network solutions including VoIP, IP
      based TV, RF based TV and high-speed Internet. The company has recently acquired
      ProSAT, which delivers customer acquisition and support services for broadband
      service providers. More information is available at http://www.nayna.com/.
      

    

    Forward
      Looking Statements

    

    This
      press release contains "forward-looking statements" within the meaning of the
      Private Securities Litigation Reform Act of 1995. These statements include,
      among others, and the timeframe during which the stock is expected to be issued.
      Statements regarding future events are based on the parties' current
      expectations and are necessarily subject to associated risks related to, among
      other things, the potential impact on the business the ability of Nayna to
      successfully issue stock and to achieve planned synergies. Therefore, actual
      results may differ materially and adversely from those expressed in any
      forward-looking statements. For more information regarding Forward Looking
      Statements and related risks, see the "Risk Factors" section of Nayna's filings
      with the SEC. The company undertakes no obligation to revise or update any
      forward looking statements for any reason.

    

    All
      products or services mentioned in this document are trademarks, service marks,
      registered trademarks or registered service marks of their respective
      owners.

    

    Contact
      Information

    

    Nayna
      Networks, Inc.

    Jim
      Connor, Marketing, 408-956-8000 x 831

    jim@nayna.comCHEMTURA
      CORPORATION EXECUTIVE AND KEY EMPLOYEE 

     

    SEVERANCE
      PLAN

     

    As
      Amended Effective as of April 15, 2007

     

    PREAMBLE

     

    Chemtura
      Corporation (“Chemtura”) adopted the Chemtura Corporation Executive And Key
      Employee Severance Plan (the “Plan”) to formalize its severance pay policy as it
      applies to eligible employees of Chemtura and all of the subsidiaries and
      affiliates of Chemtura. Effective as of April 15, 2007, Chemtura hereby amends
      the Plan as set forth herein. As used herein, the masculine pronoun shall
      include the feminine, and the singular shall include the plural, unless a
      contrary meaning is clearly intended.

     

    The
      Plan
      is intended to fall within the definition of an "employee welfare benefit plan"
      under Section 3(1) of the Employee Retirement Income Security Act of 1974,
      as
      amended ("ERISA"). This document is intended to serve as the Plan document
      and
      the summary plan description of the Plan. As such, this document supersedes
      and
      replaces any prior plan, summary plan descriptions, summaries, policies,
      publications, memos or notices regarding the Plan and any other severance
      benefits.

     

    All
      rights of Participants to benefits relating to this Plan shall be governed
      by
      the executed agreement and general release, provided by the Company in
      connection with a Participant’s termination of employment, acknowledgement of
      receipt form, and the Plan. Any employee who participates in this Plan shall
      not
      be entitled to any benefits under any other severance policy, plan or practice
      of: (i) the Company (including the Chemtura Corporation Severance Plan or the
      Great Lakes Chemical Corporation Severance Plan for Salaried and Non-Union
      Hourly Employees); (ii) any predecessor thereto; or (iii) any respective
      subsidiary or affiliate thereof, or pursuant to which the Company is bound
      or
      obligated to provide such benefits, including prior versions of the Plan. All
      such other severance (whether voluntary or involuntary) policies, plans and
      practices of the Company in effect for eligible employees prior to the effective
      date of this Plan shall be deemed amended and superseded in their entirety
      by
      this Plan to the extent that they would provide benefits to Participants upon
      their termination of employment. 

     

    In
      the
      event that the terms of the Plan are inconsistent with other documents or other
      written or verbal communications provided by the Company or its representatives
      with respect to this severance program, the terms of the Plan shall govern.
      The
      Plan may not be amended or changed except in accordance with the provisions
      set
      forth below.

     

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

     

    Section
      1

     

    Definitions

     

    Capitalized
      terms used in the Plan and not elsewhere defined herein shall have the meanings
      set forth in this Section:

    

    1.1 “Acknowledgement
      of Receipt Form”
shall
      mean the agreement provided by the Company to an Eligible Employee which must
      be
      signed by the Eligible Employee in order to become a Participant hereunder.
      In
      the Acknowledgment of Receipt Form, the Eligible Employee will, among other
      things, agree to be bound by the terms hereof and to acknowledge that this
      Plan
      supersedes any and all prior arrangements, agreements, or understandings between
      the Eligible Employee and the Company regarding severance, separation,
      termination, change in control, or similar types of benefits or
      pay.

    

    1.2 “Agreement”
shall
      mean a separation agreement and general release in such form as Chemtura, in
      its
      sole discretion, determines (the “Agreement”). 

     

    1.3 “Base
      Salary”
shall
      mean the Participant’s rate of base pay on his Termination Date, as reflected on
      the Company's payroll records, and not including bonuses, overtime pay,
      compensatory time-off, commissions, incentive or deferred compensation, employer
      contributions towards employee benefits, or any other additional compensation.
      For purposes of this Plan, a Participant's base pay or salary shall include
      any
      salary reduction contributions made on his or her behalf to any plan of the
      Company under Section 125, 132 or 401(k) of the Code. Notwithstanding the
      foregoing, following a Change of Control, Base Salary under this Plan shall
      not
      be less than the highest amount during the 90 day period preceding a Change
      of
      Control.

    

    1.4 “Cause”
shall
      mean any definition of cause contained in a Participant’s employment agreement
      or separation agreement governing the terms of a Participant’s separation from
      employment with the Company other than upon a change of control, and, if such
      agreement does not exist or cause is not defined therein, “Cause” shall mean,
      during the course of employment: (i) theft, fraud, embezzlement or intentional
      disclosure of confidential and/or proprietary information; (ii) conduct or
      plans
      to engage in conduct that would be considered competition or solicitation under
      Section 8.1 or 8.2, respectively, of the Plan; (iii) willful disregard for
      or
      neglect by the Participant of his or her duties or the interests of the Company;
      (iv) conviction of a felony or any criminal offense; (v) breach of fiduciary
      duty, duty of loyalty or other breach of trust; (vi) any willful act against
      the
      material financial interests of the Company; or (vii) willful destruction of
      property of the Company.

    

    1.5 "Change
      of Control"
      shall
      mean a change of control of Chemtura that would be required to be reported
      in
      response to Item 1(a) of the Current Report on Form 8 K, as in effect on the
      date hereof, pursuant to Section 13 or 15(d) of the Securities Exchange Act
      of
      1934 (the "Exchange Act"); provided that, without limitation, such a "Change
      of
      Control" shall be deemed to have occurred if: (i) a third person, including
      a
      "group" as such term is used in Section 13(d)(3) of the Exchange Act, other
      than
      the trustee of any employee benefit plan of the Company, becomes the beneficial
      owner, directly or indirectly, of more than 50% of the combined voting power
      of
      Chemtura’s outstanding voting securities ordinarily having the right to vote for
      the election of directors of Chemtura; (ii) during any period of 24 consecutive
      months individuals who, at the beginning of such consecutive 24 month period,
      constitute the Board of Directors of Chemtura (the "Board" generally and as
      of
      the date hereof the "Incumbent Board") cease for any reason (other than
      retirement upon reaching normal retirement age, disability, or death) to
      constitute at least a majority of the Board; provided that any person becoming
      a
      director subsequent to the date hereof whose election, or nomination for
      election by Chemtura's shareholders, was approved by a vote of at least three
      quarters of the directors who at the time of such election or nomination for
      election comprise the Incumbent Board (other than an election or nomination
      of
      an individual whose initial assumption of office is in connection with an actual
      or threatened election contest relating to the election of the Directors of
      the
      Chemtura, as such terms are used in Rule 14a 11 of Regulation 14A promulgated
      under the Exchange Act) shall, for purposes of this Plan, be considered a member
      of the Incumbent Board; or (iii) Chemtura shall cease to be a publicly owned
      corporation having its outstanding Common Stock listed on the New York Stock
      Exchange or quoted in the NASDAQ National Market System.

    

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    1.6 “Chemtura”
shall
      mean Chemtura Corporation.

    

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

    

    1.8 “Company”
shall
      mean Chemtura
      and its subsidiaries and affiliates that participate in the Plan with the
      approval of the Board of Directors of Chemtura.

     

    1.9 “Eligible
      Employees”
shall
      mean all Executive Officers and Key Employees. Notwithstanding the foregoing,
      an
      Eligible Employee shall not include any individual: (i) designated by the
      Company as an independent contractor and not as an employee at the time of
      any
      determination; (ii) being paid by or through an employee leasing company or
      other third party agency; (iii) designated by the Company as a freelance worker
      and not as an employee at the time of any determination; (iv) classified by
      the
      Company as a seasonal, occasional, limited duration, or temporary employee,
      during the period the individual is so paid or designated; (v) designated by
      the
      Company as a leased employee, during the period the individual is so paid or
      designated; (vi) who is the Chief Executive Officer of Chemtura; (vii) who
      is
      eligible to participate in or receive benefits from the Chemtura Corporation
      Severance Plan; or (viii) covered by any (x) governmental
      severance program and/or (y) collective bargaining agreement, in each case
      which
      contains provisions relating to post-termination of employment salary or
      benefits or other severance benefits.
      Any
      such individual shall not be an Eligible Employee even if he or she is later
      retroactively reclassified as a common-law employee of the Company during all
      or
      any part of such period pursuant to applicable law or otherwise.

    

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

     

    1.11 “Executive
      Officer”
shall
      mean each active, full-time executive officer of the Company. For purposes
      of
      the Plan, a full-time employee is an employee of the Company who is regularly
      scheduled to work at least 32 hours per week.

    

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    1.12 “Good
      Reason”
shall
      mean: (i) the Company changes the Participant’s status, title or position as an
      officer of the Company and such change represents a material reduction in such
      status, title or position, and/or (ii) the Company materially reduces the
      Participant’s base salary and/or target
      bonus, and/or (iii) the Company fails to provide equity compensation to the
      Participant which is at least as favorable to the Participant in terms of
      timing, value and type of award as other similarly situated employees, and/or
      (iv) any attempted relocation of the Participant’s place of employment to a
      location more than 50 miles from the location of such employment on the date
      of
      such attempted relocation, in each case as compared to the Participant’s
      entitlements immediately prior to the Change of Control, and such change, breach
      or reduction is not cured by the Company within fifteen (15) days from the
      date
      the Participant delivers a notice of termination for Good Reason. Such notice
      of
      termination for Good Reason shall include the specific section of this Plan
      which was relied upon and the reason that the Company’s act or failure to act
      has given rise to his termination for Good Reason. 

    

    1.13 “Involuntary
      Termination”
shall
      mean the termination of a Participant’s employment by the Company for any
      reason; provided, however, that an Involuntary Termination of a Participant’s
      employment shall not occur if:

    

    (a) the
      termination of the Participant’s employment is due to (i) the transfer of the
      Participant to an affiliate or subsidiary of the Company, (ii) the transfer
      of
      any operations of the Company or a subsidiary, operation, section or division
      of
      the Company to an affiliate of the Company or an entity unrelated to the Company
      (irrespective of whether assets of the Company or any such subsidiary,
      operation, section or division are sold or transferred to such unrelated
      entity), or (iii) the purchase of the Company or a subsidiary, operation,
      section or division of the Company by a third party purchaser, and, in each
      case, the Participant is offered comparable employment by the purchaser, as
      determined by the Company in its sole discretion;

    

    (b) the
      Participant’s employment terminates on account of the Participant’s (i) death,
      (ii) disability, as defined under the Company’s long-term disability plan or
      (iii) retirement under a tax-qualified retirement plan of the Company covering
      such Participant;

    

    (c) the
      Participant’s employment is terminated for Cause; or

    

    (d)  the
      Participant resigns his employment with the Company or fails to continue
      reporting to work and performing satisfactorily his job duties through the
      Termination Date, unless the Company agrees in writing to release him
      earlier.

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    

    1.14 “Key
      Employee”
shall
      mean each active, full-time employee designated in writing by the Compensation
      Committee of the Board of Directors of Chemtura. For purposes of the Plan,
      a
      full-time employee is an employee of the Company who is regularly scheduled
      to
      work at least 32 hours per week.

    

    1.15 “Participant”
shall
      mean an Eligible Employee who has satisfied the conditions for participation
      set
      forth in Section 2.

     

    1.16 “Plan”
shall
      mean this Chemtura Corporation Executive And Key Employee Severance
      Plan.

    

    1.17 “Plan
      Administrator”
shall
      mean Chemtura or any entity or person designated by Chemtura. Unless the Board
      of Directors of Chemtura designates another person or entity, the Plan
      Administrator shall be the Chemtura Corporation Employee Benefits
      Committee.

    

    1.18 “Termination”
shall
      mean either an Involuntary Termination or a Voluntary Termination. 

    

    1.19 “Termination
      Date”
shall
      mean the effective date of the termination of the Participant’s employment with
      the Company as designated by the Company in writing.

    

    1.20 “Voluntary
      Termination”
shall
      mean the Participant’s resignation from employment with the Company for Good
      Reason within twenty-four months following a Change of Control, provided the
      Participant provides the Company with notice of such resignation at least 6
      months prior to the resignation date.

     

    Section
      2

     

    Participation

     

    2.1. An
      Eligible Employee shall become a Participant in this Plan only if he (i) signs
      and returns an Acknowledgment of Receipt Form to the Plan Administrator within
      one week of being presented with such form by the Company and (ii) has executed
      a Chemtura form of Confidentiality and Assignment of Work Product Agreement
      which is dated no earlier than his Acknowledgement of Receipt Form.

     

     

    Section
      3

     

    Eligibility
      for Benefits

     

    3.1. Conditions
      for Eligibility.
      Subject
      to the conditions and limitations of this Section 3 and elsewhere in the Plan,
      a
      Participant shall be entitled to the severance benefits described herein only
      upon satisfaction of all
      the
      following conditions (and all other applicable conditions contained
      herein):

     

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    (a)
       he
      suffers a Termination, 

     

    (b)
       he
      executes without modification and in its entirety, and without timely
      revoking an Agreement, 

    

    (c)
       he
      returns to the Company any property of the Company which has come
      into
      his possession, and

    

    (d)
       he
      remains actively at work through his Termination Date unless the
      Company agrees in writing to release the Participant from employment
earlier
      than the Termination Date. 

    

    3.2. Exclusions.
      Each
      Participant shall cease to be entitled to severance benefits, upon the earliest
      to occur of the following: 

     

    (a)
       his
      breach of the Agreement or the Acknowledgement of Receipt Form;

     

    (b)
       the
      revocation, invalidity or unenforceability of such Agreement or Acknowledgement
      of Receipt Form; or

     

    (c)
       his
      reemployment by the Company. 

     

     

    Section
      4

     

    Severance
      Benefits Prior to a Change of Control

     

    4.1. Benefits.
      If
      a
      Participant experiences an Involuntary Termination prior to a Change of Control,
      and complies with all of the other terms and conditions of the Plan, he shall
      be
      eligible to receive:

     

    (a) severance
      pay at the levels defined in the Chemtura Corporation Severance Plan as amended
      and restated effective as of April 18, 2007 and consistent with future
      amendments and restatements of this plan; and 

     

    (b) continuation
      of his medical, dental, and vision benefits at the levels defined in the
      Chemtura Corporation Severance Plan as amended and restated effective as of
      April 18, 2007 and consistent with future amendments and restatements of this
      plan, for the period following Involuntary Termination (which benefits
      continuation shall offset the Company’s COBRA obligation, if any).

     

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

    4.2 Timing
      of Severance Benefits.
      Severance benefits payable under this Section 4 shall be paid in a lump sum
      as
      soon as administratively practicable following the effective date of the
      Participant’s Agreement.

     

    Section
      5

     

    Severance
      Benefits After a Change of Control

     

    5.1 Benefits.
      If a
      Participant experiences a Termination within twenty-four months following a
      Change of Control, and complies with all of the other terms and conditions
      of
      the Plan, he shall be eligible to receive:

     

    (a) severance
      pay equal to two times (if the Participant is an Executive Officer) or one
      times
      (if the Participant is a Key Employee) the Participant’s: annual Base Salary
      plus the average of the annual bonuses paid to the Participant in the three
      full
      fiscal years (or such full fiscal years that the Participant was employed by
      the
      Company if he or she was not employed by the Company for three full fiscal
      years) ending immediately prior to the Change of Control;

     

    (b) a
      pro
      rata portion to the Termination Date of any annual bonus that the Participant
      would be eligible to earn for the fiscal year in which the Termination Date
      occurs calculated by assuming the achievement of the targeted performance level
      within the performance range established with respect to such bonus (or, where
      such targeted level is incalculable, based on the targeted performance level
      for
      the preceding period) and basing such pro-rata portion upon the portion of
      the
      bonus period that has elapsed as of the Termination Date;

     

    (c)
       the
      amount of the Participant’s accrued but unused vacation under the Company’s
      vacation policy as of the Termination Date; 

     

    (d) until
      the
      earlier of (i) the day upon which the Participant begins new employment and
      is
      eligible for such welfare benefits, or (ii) (A) the second anniversary of the
      Termination Date if the Participant is an Executive Officer or (B) the first
      anniversary if the Participant is a Key Employee, the Company shall continue
      to
      provide medical, dental, vision and life insurance benefits to the Participant
      and/or the Participant's family that are comparable to those which were provided
      to the Participant immediately prior to the Termination Date (or if greater,
      immediately prior to the Change of Control) in accordance with the applicable
      plans, programs and policies of the Company;

     

    (e) upon
      submission by the Participant of required supporting documentation, payment
      or
      reimbursement of any costs and expenses (including moving and relocation
      expenses) paid or incurred by the Participant which would have been payable
      while the Participant was employed by the Company;

     

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

    (f) if
      the
      Participant is an Executive Officer, upon submission by such Participant of
      required supporting documentation, payment or reimbursement of any reasonable
      expenses paid or incurred within the first anniversary of the Termination Date
      by such Participant with respect to financial planning and tax services, up
      to a
      maximum value of $15,000; 

     

    (g) until
      the
      earlier of (i) the day upon which the Participant begins new employment
      comparable in all material respects to the Participant’s employment with the
      Company immediately prior to the Change of Control, or (ii) (A) the second
      anniversary of the Termination Date if the Participant is an Executive Officer
      or (B) the first anniversary if the Participant is a Key Employee, the Company
      shall pay all reasonable expenses incurred by the Participant in seeking
      comparable employment including, without limitation, the fees and expenses
      of a
      placement organization, up to $20,000 if the Participant is an Executive Officer
      or $15,000 if the Participant is a Key Employee, such expenses to be approved
      in
      advance by the Company, such approval not to be unreasonably withheld;
      and

     

    (h)
       
      if the
      Participant is an Executive Officer then the Company shall pay to the
      Participant an amount in cash equal to two times the annual perquisite allowance
      paid or payable to the Participant for the fiscal year in which the Termination
      Date occurs (or if greater, payable for the fiscal year immediately prior to
      the
      Change of Control). 

     

    5.2 Timing
      of Severance Benefits.
      The
      severance benefits described in Sections 5.1(a) through 5.1(c) and Section
      5.1(h) shall be paid in a lump sum as soon as administratively practicable
      following the effective date of the Participant’s Agreement. Severance benefits
      described in Section 5.1(d) shall commence as soon as practicable following
      the
      effective date of the Participant’s Agreement. Reimbursement of expenses
      pursuant to Section 5.1(e) through 5.1(g) shall be paid as soon as
      administrative practicable following the effective date of the Participant’s
      Agreement and submission by the Participant of requisite proof of such expenses.
      If a Participant dies prior to payment of all severance benefits to which he
      is
      entitled, any unpaid severance benefits shall be paid to the Participant’s
      surviving spouse or, if no spouse survives, to the Participant’s estate. If a
      Participant who is receiving severance benefits is reemployed by the Company
      or
      breaches the Agreement, payment of severance benefits shall immediately cease.
      In the event that severance benefits are paid in a lump sum, upon rehire by
      the
      Company, the Participant shall be required to repay to the Company the value
      of
      the severance benefits that would not have been paid to him had he been
      receiving his severance benefits in semi-monthly installments.

     

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

    Section
      6

     

    Vesting
      of Equity Awards Upon a Change of Control

     

    Upon
      a
      Change of Control, a Participant shall be fully vested in all Company stock
      options and other equity-based awards held by the Participant. All other rights
      with respect to such stock options or other equity-based awards shall continue
      to be governed pursuant to the terms of the applicable equity plan and award
      agreement (if any).

     

    Section
      7

     

    Tax
      Gross-Up

     

    In
      the
      event that it shall be determined that any payment or benefit by the Company
      to
      or for the benefit of the Participant pursuant to the terms of the Plan or
      any
      other payments or benefits received or to be received by the Participant (a
      “Payment”) in connection with or as a result of a Change of Control or the
      Participant's termination of employment or any event which is deemed by the
      Internal Revenue Service or any other taxing authority to constitute a change
      in
      the ownership or effective control of the Company, or in the ownership of a
      substantial portion of the assets of the Company ("Change of Control Payments")
      shall be subject to the tax (the "Excise Tax") imposed by Section 4999 (or
      any
      successor section) of the Code, the payments or benefits payable pursuant to
      the
      terms of the Plan shall be reduced so that the Payment, in the aggregate, is
      reduced to the greatest amount that could be paid to the Participant without
      giving rise to any Excise Tax (the “Safe Harbor Amount”). The reduction of the
      amounts payable hereunder shall be made first by reducing the payments under
      Section 5.1(a), unless an alternative method is elected by the Participant.
      Notwithstanding the foregoing, and in lieu of the reduction described above,
      if
      the Participant is an Executive Officer and the
      Payment is at least 110% of the Safe Harbor Amount, the
      Company
      shall pay to such Participant an additional amount (the "Gross-Up Payment")
      such
      that the net amount retained by the Participant, after (i) payment of any Excise
      Tax on the Change of Control Payments and (ii) payment of any federal and state
      and local income tax and Excise Tax upon the Gross-Up Payment, shall be equal
      to
      the Change of Control Payments. The determination of whether the Participant
      is
      subject to the Excise Tax and the amount of the Gross-Up Payment, if any, shall
      be made by a "Big Five" accounting firm chosen by the Company and reasonably
      agreeable to the Participant, which determination shall be binding upon the
      Participant and the Company. For purposes of determining the amount of the
      Gross-Up Payment (if any), the Participant shall be deemed to pay federal income
      taxes at the highest marginal rate of federal income taxation in the calendar
      year in which the Gross-Up Payment is to be made and state and local income
      taxes at the highest marginal rate of taxation in the calendar year in which
      the
      Gross-Up Payment is to be made in the state or locality of the Participant's
      residence on the Participant's Termination Date. The Gross-Up Payment, if any,
      shall be paid to the Participant by cashier's check within five (5) business
      days following the receipt by the Company of the Gross-Up Payment determination
      from the selected "Big Five" accounting firm. Notwithstanding
      the foregoing, all
      Gross-Up Payments shall be paid in accordance with section 409A of the
      Code.

     

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

    Section
      8

     

    Restrictive
      Covenants

     

    8.1 Noncompetition. During
      the Participant’s employment with the Company, and during a one year period
      following any termination of the Participant’s employment for any reason, the
      Participant shall not directly or indirectly compete with Chemtura or any of
      its
      subsidiaries or affiliates, whether as an individual proprietor or entrepreneur
      or as an officer, employee, partner, stockholder, or in any capacity connected
      with any enterprise, in any
      business for which the Participant performed material services for Chemtura
      or any of its subsidiaries or affiliates within the 24-month period immediately
      preceding the Participant’s Termination Date,
      in any
      geographic area in which Chemtura
      or any of its subsidiaries or affiliates is engaged in such business at the
      time
      of the Participant's termination of employment, including,
      without limitation, any geographic area within which Chemtura or
      any of
      its subsidiaries or affiliates has formally announced specific plans to engage
      and/or the Participant has actual knowledge that Chemtura or any of its
      subsidiaries or affiliates specifically plans to engage. For the purpose of
      the
      preceding sentence, engaging in business shall be deemed to embrace sales to
      customers or performance of services for customers who are within a relevant
      geographical area. Nothing herein, however, shall prohibit the Participant
      from
      acquiring or holding any issue of stock or securities of any corporation which
      has any securities listed on a national securities exchange or quoted in the
      daily listing of over the counter market securities; provided that at any one
      time the Participant and members of the Participant’s immediate family do not
      own more than five (5%) percent of the voting securities of any such
      corporation.

     

    8.2 Non-Solicitation. During
      the Participant’s employment with the Company, and during a one year period
      following any termination of the Participant’s employment for any
      reason, the
      Participant shall not directly or indirectly hire, entice, induce or in any
      manner whatsoever attempt to influence any employee, client, agent, consultant,
      contractor, supplier or any other person or entity to cease or reduce working
      for and/or doing business with
      Chemtura
      or any of its subsidiaries or affiliates.

     

    8.3 Remedies. By
      electing to participate in the Plan, Participants hereby acknowledge that the
      provisions of this Section 8 are reasonable and necessary for the protection
      of
      Chemtura, its subsidiaries and affiliates and acknowledge their obligations
      under such covenants. The Participants further acknowledge that Chemtura, its
      subsidiaries or affiliates will be irreparably harmed if such covenants are
      not
      specifically enforced. Accordingly, by electing to participate, the Participants
      agree that, in addition to any other relief to which Chemtura or any of its
      subsidiaries or affiliates may be entitled, including claims for damages,
      Chemtura or any of its subsidiaries or affiliates shall be entitled to seek
      and
      obtain injunctive relief (without the requirement of any bond) from a court
      of
      competent jurisdiction for the purpose of restraining the Participants from
      an
      actual or threatened breach of such covenants. Notwithstanding anything else
      to
      the contrary herein, in the event of any material violation by a Participant
      of
      this Section 8, the Company shall immediately have no obligation thereafter
      to
      make any payments to the Participant and the Company, in its reasonable
      discretion, may require the Participant to promptly repay to the Company any
      payments paid to him pursuant to this Plan that were paid prior to such
      breach.

     

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

    Section
      9

     

    Offset

     

    Participants
      in the Plan shall not be entitled to receive any other severance, notice, change
      in control or termination payments or benefits (or notice in lieu of severance)
      from the Company. In addition, the Participant's benefits under the Plan will
      be
      reduced by the amount of any other severance or termination payments, or pay
      in
      lieu of notice, payable by the Company to the Participant on account of his
      or
      her employment, or termination of employment, with the Company, including,
      but
      not limited to, (i) any payments required to be paid by the Company to the
      Participant under any other program, policy, practice, or agreement, or (ii) any
      Federal, State, national, municipal, provincial, commonwealth or local law
      (including any payment pursuant to the Worker Adjustment Retraining and
      Notification Act or any national, State, local, provincial, municipal, or
      commonwealth equivalent). A Participant must notify the Plan Administrator
      if he
      or she receives any such payments. Notwithstanding anything to the contrary
      in
      this Section 9, no severance payment paid or payable to a Participant, after
      giving effect to the provisions of this Section 9, shall be less than one week
      of Base Salary. 

     

    Section
      10

     

    Cessation
      of Participation in Employer Plans

     

    Except
      as
      otherwise provided herein, a Participant, as of his Termination Date, shall
      cease to participate in and shall cease to be treated as an employee of the
      Company for all purposes under the employee benefit plans of the Company,
      including, without limitation, all retirement, welfare, incentive, bonus and
      other similar plans, policies, programs and arrangements maintained for
      employees of the Company. Each such Participant’s rights under any such plan,
      policy, program or arrangement shall be governed by the terms and conditions
      of
      each thereof, as in effect on such Termination Date. 

     

    Section
      11

     

    Administration

     

    11.1. Plan
      Interpretation and Benefit Determinations.
      The
      Plan shall be administered by the Plan Administrator. The Plan Administrator
      (or, where applicable, the Claim Reviewer (as defined below) or other duly
      authorized designee of the Plan Administrator) shall have the exclusive right,
      power, and authority, in its sole and absolute discretion, to administer, apply
      and interpret the Plan and any other documents and to decide all factual and
      legal matters arising in connection with the operation or administration of
      the
      Plan; provided,
      however, that,
      the in
      accordance with Section 13 below, the Organization, Compensation &
Governance Committee of the Board shall retain the sole authority to amend
      or
      terminate this Plan or any portion thereof.

     

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

      Without
      limiting the generality of the foregoing paragraph, the Plan Administrator
      (or,
      where applicable, the Claim Reviewer or other duly authorized designee of the
      Plan Administrator) shall have the discretionary authority and power
      to:

     

    (a) take
      all
      actions and make all decisions (including factual decisions) with respect to
      the
      eligibility for, and the amount of, benefits payable under the Plan to Employees
      or Participants or their beneficiaries;

     

    (b) formulate,
      interpret and apply rules, regulations and policies necessary to administer
      the
      Plan;

     

    (c) decide
      questions, including legal or factual questions, relating to the calculation
      and
      payment of benefits, and all other determinations made, under the
      Plan;

     

    (d) resolve
      and/or clarify any factual or other ambiguities, inconsistencies and omissions
      arising under this Agreement, the Plan or other Plan documents; and

     

    (e) process,
      and approve or deny, benefit claims and rule on any benefit
      exclusions.

     

    11.2. Benefit
      Claims.
      The
      Company will normally advise a Participant of his right to benefits under the
      Plan at the time that a Termination of the Participant’s employment takes place.
      A Participant may also make a claim concerning his or her right to receive
      a
      benefit under the Plan (a “Claim”) to the Company’s Director of Benefits (the
“Claim Reviewer”) at the following address:

     

    Chemtura
      Corporation

    199
      Benson Road
      

    Middlebury,
      CT
      06749

    Attention:
      Director of Benefits

     

    A
      Claim
      must be made by a Participant within sixty (60) days following his Termination
      Date.

     

    11.3. Appealing
      Benefit Claims.
      The
      Participant will be informed of the decision of the Claim Reviewer with respect
      to a Claim within 90 days after it is filed. Under special circumstances, the
      Claim Reviewer may require an additional period of not more than 90 days to
      review a Claim. If this occurs, the Participant will be notified in writing
      as
      to the length of the extension, the reason for the extension, and any other
      information needed in order to process the Claim.

     

    If
      a
      Claim is denied, in whole or in part, the Participant will be notified in
      writing of the specific reason(s) for the denial, the exact Plan provision(s)
      on
      which the decision was based, what additional material or information is
      relevant to his case, and what procedure the Participant should follow to get
      the Claim reviewed again (an “Appeal”). The Participant then has sixty (60) days
      to Appeal the Claim to the Plan Administrator.

     

    
      
         

      

      
        12

        
          

        

      

      
         

      

    

    The
      Appeal must be submitted in writing to the Plan Administrator. A Participant
      may
      request to review pertinent documents, and may submit a written statement of
      issues and comments.

     

    A
      decision as to a Participant's Appeal will be made within sixty (60) days after
      the Appeal is received. Under special circumstances, the Plan Administrator
      may
      require an additional period of not more than 60 days to review an Appeal.
      If
      this occurs, the Participant will be notified in writing as to the length of
      the
      extension. 

     

    If
      a
      Participant's Appeal is denied, in whole or in part, he or she will be notified
      in writing of the specific reason(s) for the denial and the exact Plan
      provision(s) on which the decision was based. The decision on an Appeal of
      the
      Plan Administrator will be final and binding on all parties and persons affected
      thereby.

     

    11.4. Non-Binding
      Mediation.
      In the
      event the Participant is not satisfied with the decision on an Appeal made
      pursuant to Section 11.3, and the amount of the Claim equals or exceeds $5,000,
      notwithstanding anything in Section 11.3 to the contrary, the Participant may
      request that the Claim be resolved pursuant to non-binding mediation
      administered by the American Arbitration Association under the Mediation Rules
      specified in its National Rules for the Resolution of Employment Disputes.
      All
      fees and expenses of the mediator and all other expenses of the mediation
      procedures, except for attorneys’ fees and witness expenses, shall be shared
      equally by the Participant and the Company. Each party shall bear its own
      witness expenses and attorneys’ fees.

     

    Section
      12

     

    Miscellaneous

     

    12.1. Tax
      Withholding.
      The
      Company shall have the authority to withhold or to cause to have withheld
      applicable taxes from any payments made under or in accordance with the Plan
      to
      the extent required by law. In addition, the Company shall have the right to
      delay or permanently withhold any benefit under this Plan to the extent that
      the
      payment of such benefit would constitute a violation of Code Section
      409A.

     

    12.2. Unfunded
      Plan.
      The
      Plan is unfunded. The Company shall pay the full cost of the Plan out of its
      general assets.

     

    12.3. Not
      a
      Contract of Employment.
      The
      Plan shall not be deemed to constitute a contract of employment, or to impose
      on
      the Company any obligation to retain any Participant as an employee, to continue
      any Participant’s current employment status or to change any employment policies
      of the Company; nor shall any provision hereof restrict the right of the Company
      to discharge any of its employees or restrict the right of any such employee
      to
      terminate his employment with the Company.

     

    
      
         

      

      
        13

        
          

        

      

      
         

      

    

    12.4. Choice
      of Law.
      The
      Plan shall be construed and governed under the laws of the State of Connecticut,
      except to the extent Federal law is applicable.

     

    12.5. Effect
      of Invalidity of Provision.
      If any
      provision of the Plan is held invalid or unenforceable, such invalidity or
      unenforceability shall not affect any other provision hereof, and such provision
      shall, to the extent possible, be modified in such manner as to be valid and
      enforceable but so as to most nearly retain the intent of the Company. If such
      modification is not possible, the Plan shall be construed and enforced as if
      such provision had not been included in the Plan.

     

    12.6. Effect
      of Plan.
      The
      Plan
      supersedes any and all prior severance arrangements, policies, plans or
      practices of the Company and its predecessors (whether written or unwritten).
      Notwithstanding the preceding sentence, the Plan does not affect the severance
      provisions of any written individual employment contracts or individual
separation
      agreements governing the terms of a Participant’s separation of employment with
      the Company.
      

     

    12.7. Records.
      The
      records of the Company with respect to Years of Service, employment history,
      Base Salary, absences, and all other relevant matters shall be conclusive for
      all purposes of this Plan.

     

    12.8. Nontransferability.
      In no
      event shall the Company make any payment under this Plan to any assignee or
      creditor of a Participant, except as otherwise required by law. Prior to the
      time of a payment hereunder, a Participant shall have no rights by way of
      anticipation or otherwise to assign or otherwise dispose of any interest under
      this Plan, nor shall rights be assigned or transferred by operation of
      law. 

     

    Section
      13

     

    Amendment
      or Termination of the Plan

     

    The
      Plan
      may be amended or terminated, in whole or in part, at any time, with or without
      prior notice, by action of the Organization, Compensation & Governance
      Committee (or any successor thereof) of the Board; provided,
      however, that
      any
      amendment to modify the provisions of Section 4 of the Plan, in whole or in
      part, may be made at any time by action of the Chemtura Corporation Employee
      Benefits Committee (or any successor thereof). Notwithstanding the foregoing,
      any amendment to the Plan, in whole or in part, including an amendment to
      terminate the Plan (but excluding an amendment to modify Section 4 of the Plan
      as set forth above), that is adverse to the interests of any Participant (except
      for an amendment adopted to comply with applicable law, including Code Section
      409A) will not be effective until the date which is one year following the
      date
      of such amendment, and any such amendment which is adopted within six months
      prior to a Change of Control will be void upon such Change of Control.

     

    
      
         

      

      
        14

        
          

        

      

      
         

      

    

    Section
      14

     

    Required
      Information

     

    14.1.
      Participants'
      Rights Under ERISA.
      A
      Participant in the Plan is entitled to certain rights and protections under
      the
      Employee Retirement Income Security Act of 1974 (ERISA). ERISA provides that
      all
      Plan participants shall be entitled to:

     

    -
      Examine, without charge, at the Plan Administrator's office, all Plan documents,
      and copies of all documents filed by the Plan with the U.S. Department of Labor,
      such as detailed annual reports and Plan descriptions.

     

    -
      Obtain
      copies of Plan documents and other Plan information upon written request to
      the
      Plan Administrator. The Plan Administrator may make a reasonable charge for
      the
      copies.

     

    -
      Receive
      a summary of the Plan's annual financial report if the Plan covers 100 or more
      people. The Plan Administrator is required by law to furnish each Participant
      with a copy of this summary annual report.

     

    In
      addition to creating rights for Plan participants, ERISA imposes duties upon
      the
      people who are responsible for the operation of the Plan. The people who operate
      the Plan, called "fiduciaries" of the Plan, have a duty to do so prudently
      and
      in the interest of Plan participants and beneficiaries. No one, including the
      Company or any other person, may fire a Participant or otherwise discriminate
      against him or her in any way to prevent him or her from obtaining a welfare
      benefit or exercising his or her rights under ERISA. If a Participant's claim
      for a benefit is denied in whole or in part, he or she must receive a written
      explanation of the reason for the denial. The Participant has the right to
      have
      the Plan review and reconsider his or her claim. Under ERISA, there are steps
      a
      Participant can take to enforce the above rights.

     

    For
      instance, if a Participant requests materials from the Plan and does not receive
      them within 30 days, he or she may file suit in a federal court. In such a
      case,
      the court may require the Plan Administrator to provide the materials and pay
      the Participant up to $110 a day until the he or she receives the materials,
      unless the materials were not sent because of reasons beyond the control of
      the
      Plan Administrator.

     

    If
      the
      Participant's claim for benefits is denied or ignored, in whole or in part,
      he
      or she may file suit in a state or federal court. If a Participant is
      discriminated against for asserting his or her rights, he or she may seek
      assistance from the U.S. Department of Labor, or may file suit in a federal
      court. The court will decide who should pay court costs and legal fees. If
      the
      Participant is successful, the court may order the person the Participant sued
      to pay these costs and fees. If the Participant loses, the court may order
      him
      or her to pay these costs and fees, for example, if it finds the Participant's
      claim is frivolous. If a Participant has any questions about the Plan, he or
      she
      should contact the Plan Administrator. If the Participant has any questions
      about this statement or about his or her rights under ERISA, he or she should
      contact the nearest office of the Pension and Welfare Benefits Administration,
      U.S. Department of Labor, listed in the telephone directory or the Division
      of
      Technical Assistance and Inquires, Pension and Welfare Benefit Administration,
      U.S. Department of Labor, 200 Constitution Avenue N.W., Washington, D.C.
      20210.

     

    
      
         

      

      
        15

        
          

        

      

      
         

      

    

    14.2.
      Other
      Important Facts.

     

      

     

    
      	OFFICIAL NAME
              OF THE
              PLAN:	Chemtura Corporation
              Executive And Key 
	Employee Severance
              Plan	 
	 	 
	
              SPONSOR:

            	
              Chemtura
                Corporation

            
	 	
              199
                Benson Road

            
	 	
              Middlebury,
                CT 06749

            
	 	
              (203)
                573-2000

            
	
              EMPLOYER
                IDENTIFICATION

            	 
	
              NUMBER
                (EIN):

            	
              52-2183153

            
	 	 
	
              PLAN
                NUMBER:

            	
              [540]

            
	 	 
	
              TYPE
                OF PLAN:

            	
              Employee
                Welfare Severance Benefit Plan

            
	 	 
	
              END
                OF PLAN YEAR:

            	
              December
                31

            
	 	 
	
              TYPE
                OF ADMINISTRATION:

            	
              Employer
                Administered

            
	 	 
	
              PLAN
                ADMINISTRATOR:

            	
              Chemtura
                Corporation Employee Benefits Committee

            
	 	
              199
                Benson Road

            
	 	
              Middlebury,
                CT 06749

            
	 	
              (203)
                573-2000

            
	 	 
	
              EFFECTIVE
                DATE:

            	
              January
                1, 2006, as amended, April 15, 2007

            

    

    

    The
      Plan
      Administrator keeps records of the Plan and is responsible for the
      administration of the Plan. The Plan Administrator will also answer any
      questions you may have about the Plan.

     

    Service
      of legal process may be made upon the Plan Administrator.

     

    No
      individual may, in any case, become entitled to additional benefits or other
      rights under this Plan after the Plan is terminated. Under no circumstances,
      will any benefit under this Plan ever vest or become
      nonforfeitable.

     

    
      
         

      

      
        16

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00122-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00122-of-00352.parquet"}]]