Document:

Tier II Change in Control Agreement, dated July 28, 2004, btwn Arch & Gouby

 Exhibit 10.2 
  
 July 28, 2004 
  
 Philippe Gouby 
  
 Dear Philippe: 
  
 1. This
agreement shall be binding immediately upon its execution and delivery, but it shall not be operative unless and until there has been a Change in Control of Arch Chemicals, Inc. (the “Company”), as defined below except as provided in
Paragraph 6(a) hereof. In the event that this agreement shall not have become operative by December 31, 2004, it shall not thereafter become operative or be of any force or effect, notwithstanding the occurrence of a Change in Control, unless the
Board of Directors of the Company shall have taken action expressly to reapprove this agreement. 
  
 2. For purposes of this agreement, the following definitions apply: 
  

	 	(a)	“Change in Control” means: 

  

	 	(i)	the Company ceases to be, directly or indirectly, owned of record by at least 1,000 stockholders; 

  

	 	(ii)	a person, partnership, joint venture, corporation or other entity, or two or more of any of the foregoing acting as a “person” within the meaning of Section 13(d)(3) of
the Securities Exchange Act of 1934, as amended (the “Act”), other than the Company, a majority-owned subsidiary of the Company or an employee benefit plan (or the plan’s related trust) of the Company or such subsidiary, become(s) the
“beneficial owner” (as defined in Rule 13d-3 under such Act) of 20% or more of the then outstanding voting stock of the Company; 

  

	 	(iii)	 during any period of two consecutive years, individuals who at the beginning of such period constitute the Company’s Board of Directors (together with any new
Director whose election by the Company’s Board of Directors or whose nomination for election by the Company’s stockholders was approved by a vote of at least two-thirds of the directors then still in office who 

  

	 	 
either were directors at the beginning of such period or whose election or nomination for election was previously so approved) cease for any reason to
constitute a majority of the directors then in office; 

  

	 	(iv)	all or substantially all of the business of the Company is disposed of pursuant to a merger, consolidation or other transaction in which the Company is not the surviving corporation
or the Company combines with another company and is the surviving corporation (unless the shareholders of the Company immediately following such merger, consolidation, combination, or other transaction beneficially own, directly or indirectly, more
than 50% of the aggregate voting stock or other ownership interests of (x) the entity or entities, if any, that succeed to the business of the Company or (y) the combined company); or 

  

	 	(v)	approval by the Company’s shareholders of (x) a sale of all or substantially all the assets of the Company or (y) a liquidation or dissolution of the Company.

  

	 	(b)	“Cause” means your willful and continued failure to substantially perform your duties; your willful engaging in gross misconduct significantly and demonstrably financially
injurious to the Company; or your willful misconduct in the course of your employment which is a felony or fraud. No act or failure to act on your part will be considered “willful” unless done or omitted not in good faith and without
reasonable belief that the action or omission was in the interests of the Company or not opposed to the interests of the Company. 

  

	 	(c)	“Company” includes, except for purposes of paragraph 2(a)(iv) above, a successor of Arch Chemicals, Inc. (whether direct or indirect) by acquisition of all or
substantially all of its assets, merger or consolidation. 

  

	 	(d)	“Termination” means if: 

  

	 	(i)	Within 18 months following a Change in Control, you are discharged by the Company (or any of its subsidiaries) other than for Cause; or 

  

	 	(ii)	You terminate your employment within 24 months following a Change in Control in the event that: 

  

	 	(1)	the Company requires you to relocate your then office to an area which is not within reasonable commuting distance, on a daily basis, from your then residence, except the
requirement to relocate your office to the Company’s corporate headquarters wherever located prior to the Change in Control, is not a basis for Termination if (a) in the transfer, the Company reimburses you fully for all your relocation costs
consistent with its past practice in effect prior to a Change in Control and (b) you are not age 55 or older with at least ten years of creditable service under a Company retirement plan either prior to the Change in Control or at the time of the
required relocation; 

  

	 	(2)	the Company reduces your base salary or fails to increase your base salary on a basis consistent (as to frequency and amount) with the Company’s exempt salary system as in
effect immediately prior to the Change in Control; 

  

	 	(3)	the Company fails to continue your participation in its benefit plans (including incentive compensation and stock options) on substantially the same basis, both in terms of the
amount of the benefits provided (other than due to the Company’s or a relevant operation’s financial or stock price performance provided such performance is a relevant criterion under such plan) and the level of your participation relative
to other participants as exists on the date hereof; provided that, with respect to annual and long term incentive compensation plans, the basis with which your amount of benefits and level of participation shall be compared shall be the average
benefit awarded to you under the relevant plan during the three years immediately preceding the date of Termination; or 

  

	 	(4)	your duties, position or reporting responsibilities are diminished. 

  

	 	3.	(a) In the event of a Termination, the Company will pay you a cash amount (“Special Severance”) equal to the sum of: 

  

	 	(i)	12 months salary at the higher of your base rate of salary in effect at the Company (or any subsidiary thereof) immediately prior to the Change in Control or on the date of
Termination; plus 

  

	 	(ii)	an amount equal to the greater of (a) the average of your bonus awards actually paid under the Company’s annual cash incentive compensation plans or programs for the three
calendar years immediately preceding the year in which Termination occurs (including zero if you participated in such plans or programs for the particular year but nothing was paid ) or (b) your standard annual cash incentive award for the year in
which Termination occurs; plus 

  

	 	(iii)	an amount equal to the higher of (x) your annual long-term incentive target as last in effect prior to the Change in Control and (y) your annual long-term incentive target as in
effect immediately prior to the Termination. 

  
 For the purposes of clause 3(a)(ii)(a), (A) the Company’s annual cash incentive compensation plans or programs shall be deemed to include those of Olin Corporation (“Olin”) and its subsidiaries (B) any bonus amounts deferred
to the Employee Deferral Plan for a particular bonus year shall be deemed to have been actually paid and not deferred, and (C) if you did not participate for such three year period in such plans or programs, the average shall be of the two full
calendar years in which you did participate or in the case of one calendar year of participation, the amount for such one year. 
  

	 	(b)	 During the 12-month period following your Termination, you and your dependents shall continue to be entitled to coverage under the medical and dental insurance
plans of the Company, and you shall continue to be entitled to coverage under the life insurance plans (other than travel/accident) of the Company, in which you participated prior to Termination on a basis no less 

  

	 	 
favorable than in effect immediately prior to the Change in Control. 

  

	 	(c)	Payment of Special Severance will be made to you (i) over a twelve month period in equal monthly installments commencing with the first day of the month following the month in which
your Termination occurs or (ii) at your election, within 30 days of the date of your Termination in a lump sum equal to the sum of the monthly payments referred to in clause (i) (“Annual Sum”) less an amount equal to the Annual Sum
multiplied by the six-month U.S. Treasury bill rate in effect on the date of Termination. 

  
 Notwithstanding anything to the contrary herein, the payment(s) of the Special Severance will be reduced by all of the following: (i) any applicable,
required withholding taxes, (ii) any cash severance or employment termination payment(s), if any, to which you are entitled under the applicable severance policy of the Company or its subsidiary or under any special severance arrangements which may
have been entered into by you with the Company or its subsidiary with respect to termination of your employment to the extent so paid to you and (iii) any cash severance or employment termination payment(s), if any, required or directed by law or
regulation or contract to be paid by the Company or its subsidiary to you with respect to the cessation of your employment to the extent so paid to you. 
  

	 	(d)	Nothing in this Agreement shall be deemed to limit any provision of the Company’s 1999 Long Term Incentive Plan, or other employee benefit or incentive compensation plan of the
Company which may apply in the event of a Change in Control. 

  

	 	(e)	You shall accrue no vacation following the date of Termination but shall be entitled to payment for accrued and unused vacation for the then current calendar year within 30 days of
Termination. 

  

	 	(f)	 You shall not be entitled to an ICP award for the calendar year of Termination if Termination occurs during the first calendar quarter. If Termination occurs during
or after the second calendar quarter, you shall be entitled to prorated ICP award for the calendar year of Termination which shall be determined by multiplying your then current ICP standard by a fraction the numerator of which is the number of
weeks elapsed in the 

  

	 	 
calendar year prior to the Termination and the denominator of which is 52. You shall accrue no ICP award during the 12 months following the date of
Termination. For purposes of this paragraph, “ICP” shall mean the annual cash incentive plan or program in effect at the time of Termination. 

  
 4. The amount of payments provided for in this agreement shall not be reduced by the amount of compensation, if any, which
you may receive from a third party unaffiliated with the Company following your Termination. 
  
 5. In the event that after a Change in Control your operating unit is to be sold and you are to be transferred to the purchaser of such operating unit, and your prospective new employer will not agree to assume this
agreement in its entirety, then you shall be entitled to terminate your employment with the Company (or its subsidiary) prior to the sale and receive from the Company the payments contemplated by paragraph 3 above, unless the Company shall have
agreed to pay you the difference between the amount of such payments your prospective new employer is prepared to assume and the amount payable hereunder. 
  
 6. Anything in this agreement to the contrary notwithstanding: 
  

(a) In the event that you cease to be employed by the Company or its subsidiary for any reason, whether at your election or that of the
Company, prior to a Change in Control, this agreement shall not thereafter become operative or be of any force or effect notwithstanding the subsequent occurrence of a Change in Control except for paragraphs 9 and 11 which are effective on the date
hereof. 
  
 7. No Employment Rights. This Agreement shall
not be deemed to confer upon you a right to continued employment with the Company or any of its affiliates. 
  
 8. Disputes/Arbitration. 
  
 (a) Except with respect to enforcement by the Company of paragraph 9 or other legal action by the Company for breach by you of paragraph
9, any dispute or controversy arising under or in connection with this agreement shall be settled exclusively by arbitration at the Company’s corporate headquarters in accordance with the rules of the American Arbitration Association then in
effect. Judgment may be entered on the arbitrator’s award in any court having jurisdiction; provided, however, that you shall be entitled to seek specific performance of your right to be paid during the pendency of any dispute or controversy
arising under or in connection with this agreement. 
  

 (b) The Company shall pay as they become due all reasonable legal fees and expenses which
you may incur to enforce this agreement unless you had no reasonable basis for the claim. Should the Company dispute your entitlement to such fees and expenses, the burden of proof shall be on the Company to establish that you had no reasonable
basis for the claim. 
  
 9. Nonsolicitation. 
  
 (a) You agree that while employed by the Company and for one
year immediately following your ceasing to be an employee of the Company for any reason (whether voluntary or otherwise), you shall: 
  
 (i) not, in any way, directly or indirectly, on your own behalf or on behalf of or in conjunction with any person, entity, business,
partnership or organization solicit, entice, hire, employ or endeavor to employ any of the employees of the Company (but excluding former employees who are not so solicited, enticed or hired prior to such former employee’s employment
termination); and 
  
 (ii) not, directly or
indirectly, contact or solicit (or advise or consult for any person, organization, partnership, business, company or enterprise with respect to soliciting or contacting) any person or entity who was a customer of the Company at any time during the
twenty-four (24) month period prior to your ceasing to be a Company employee, or any potential customer of the Company who was specifically targeted for solicitation by the Company at any time during such 24-month period (such customer and potential
customer being an “Arch Customer”), for the purpose of diverting such customer from the Company with respect to, or for the purpose of recommending, selling or providing any product or service similar to or competing with, any product or
service of the Company that (A) is offered at the time of employment termination and (B) you were engaged in managing, marketing, selling or manufacturing at any time during your employment with the Company or Olin Corporation (together with
subsidiaries of Olin Corporation, being collectively “Olin”); provided further that this clause (ii) shall also apply to (x) any Arch Customer with whom you met or contacted at any time prior to employment termination for the express
purpose of establishing, soliciting or maintaining a customer relationship with the Company or Olin and (y) any product or service of the Company that is offered at the time of employment termination and that was or was to be the basis of such
customer relationship. 
  
 (b) You acknowledge
that you have carefully read this Agreement and have given and do now give careful consideration to the restraints imposed upon you by this Agreement and are in full accord as to their necessity for the reasonable and proper protection of the
Company’s businesses. You acknowledge and agree that (i) each and every restraint imposed by this paragraph 9 is reasonable with respect to 

  

 
subject matter, duration and geographic area and (ii) that your services to the Company are unique and special and that you have knowledge of the
Company’s trade secrets, customer base and other confidential information of the Company and you hereby agree you will not assert anything to the contrary in any court, hearing, arbitration, mediation or other legal forum. You further
acknowledge and agree that the restrictions contained in this paragraph 9 will not prevent you from earning a living within your trade or specialty. The restraints imposed by this paragraph 9 shall continue for their full periods and throughout the
geographic areas set forth in this paragraph 9 except as provided in paragraph 9(f) below. 
  
 (c) If you violate or attempt to violate any of the provisions of this paragraph 9, then the Company shall be entitled, as of right, to an
injunction and/or other equitable relief against you, restraining you from violating or attempting to violate any of these provisions. You further agree that this provision does not limit any other remedies that may be available to the Company for
breach of this paragraph 9 by you. 
  
 (d) You
acknowledge that, because of the competitive nature of the Company’s businesses and the Company’s repeat transactions with many customers, the development and enhancement of customer relationships, contacts and goodwill are critical
factors in ensuring the Company’s survival and success and that such customer relationships, contacts and goodwill constitute valuable assets belonging to the Company, whether or not such assets are produced by your own efforts. You further
acknowledge that directly or indirectly soliciting the Company’s customers for a competitor of the Company would inevitably result in disclosure of trade secrets and confidential information belonging to the Company, this irreparably harming
the Company. 
  
 (e) For purposes of this
paragraph 9, references to “the Company” mean the Company including its subsidiaries. 
  
 (f) The parties have entered into this Agreement in the belief that its provisions are valid, reasonable, and enforceable. However, if any
one or more of the provisions contained in this Agreement shall be held to be unenforceable for any reason, such unenforceability shall not affect any other provision of this Agreement, and this Agreement shall be construed as if such unenforceable
provision had never been contained herein. However, if any one or more of the provisions contained in paragraph 9 hereof shall for any reason be held to be excessively broad as to time, duration, geographic scope, activity or subject, it shall be
construed, by limiting and reducing it, so as to be enforceable to the extent compatible with applicable law. 
  
 (g) The provisions contained in this paragraph 9 are in addition to, and supplement, any other nonsolicitation or noncompete agreement
that may be 

  

 
applicable to you and does not supersede or replace any such other prior agreements. You acknowledge and agree that any prior noncompetition or
nonsolicitation agreement between you and Olin has been assigned to the Company and is effective as if originally entered into with the Company instead of Olin. 
  

10. Your Employment Agreement relating to Inventions, Patents and Confidential Information which you signed shall continue to remain effect in
accordance with its terms following any termination of employment. 
  
 11. Release. In exchange for this agreement, you hereby release and forever discharge the Company and its affiliates and/or successors-in-interest, their respective directors, employees and agents from any and all liabilities whatsoever
(including claims for payments or benefits) arising under or in connection with your previous Tier II Change-in-Control Agreement, dated January 3, 2000, between you and the Company, and such agreement shall be considered terminated and discharged
in full, except for the release contained therein which shall survive. 
  

			
	Very truly yours,
	
	ARCH CHEMICALS, INC.
		
	By:	 	 /s/ Hayes Anderson

	 	 	 Hayes Anderson,
 Vice President, Human Resources

  

	
	Agreed:
	
	Signature:
	
	 /s/ Philippe Gouby

	 Philippe GoubySeparation, Retirement and Consulting Agreement

 Exhibit 10.1 
  
 SEPARATION, RETIREMENT AND CONSULTING AGREEMENT 
  
 THIS SEPARATION, RETIREMENT AND CONSULTING AGREEMENT (the “Agreement”) is entered into between Ray R. Rogers
(“Rogers”) and Oxis International, Inc. (the “Company”) on the dates acknowledged below in order to provide for an orderly and mutually satisfactory transfer of responsibilities, for internal and external communications, for
separation from employment and for Rogers’ retirement. This is a negotiated agreement establishing the terms and conditions of Rogers’ retirement and separation from employment with the Company and describes and establishes the benefits,
terms and conditions of employment between Rogers and the Company except to the extent expressly governed by law. 
  

	1.	Meaning of Terms. 

  

	(a)	As used in this Agreement, the “Company” shall mean Oxis International, Inc. and any successor corporation or entity. 

  

	(b)	As used in this Agreement, “Rogers” shall mean Ray R. Rogers. 

  

	(c)	As used in this Agreement, “Retirement Time” shall mean the close of business June 30, 2004. 

  

	(d)	As used in this Agreement, “Officer Resignation Time” shall mean the close of business on June 21, 2004 and “Director Resignation Time” shall mean immediately
following the conclusion of the 2004 Annual Meeting of OXIS Stockholders scheduled to be held on June 22, 2004. Notwithstanding such resignations, Rogers’ employment shall continue to the Retirement Time. 

  

	2.	Consideration. 

  
 The parties acknowledge that this Agreement is entered into in consideration of the mutual promises and covenants herein. 
  

	3.	Resignation as Officer. 

  
 Effective upon the Officer Resignation Time, Rogers will resign as an officer of the Company and its foreign and domestic subsidiaries, including without limitation, his
positions of Chief Executive Officer, President and Chairman of the Board. Effective upon the Director Resignation Time, Rogers will resign as a member of the Board of Directors of the Company and its foreign and domestic subsidiaries. Rogers’
resignations will be automatically effective at the Officer Resignation Time and the Director Resignation Time, as applicable, without any further action by Rogers or the Company. Rogers acknowledges that he has been and is subject to certain laws
governing trading by corporate insiders, and will engage in no trading activities in violation of those laws. 

 Nothing herein shall limit any right Rogers may have to indemnification for acts as an officer or employee of the Company
or for acts done following his retirement as a consultant to the Company, available to him under federal law or the laws of any state, the Company’s bylaws, and/or Company acquired liability coverage. 
  

	4.	Retirement. 

  
 Rogers will be employed by the Company until the Retirement Time. Rogers shall thereafter remain entitled to any employment related benefits as granted by the terms of this Agreement and the applicable plans for
post-employment and retirement benefits which are vested or to which Rogers is entitled by virtue of this Agreement and the Employment Agreement. 
  

	5.	Equipment. 

  
 For a period of 90 days following his retirement, Rogers will be entitled to retain at Company expense his Company-provided electronic mail account and address, and his Company provided cellular telephone and number.
Effective October 1, 2004, Rogers will transfer the accounts to personal address and thereafter be responsible for payments. He will be permitted to retain for his own use his company provided cell phone, laptop computer and PDA. Rogers will remove
his personal furniture from the Company’s offices. In addition, Rogers acknowledges that he continues to be bound by Section 7 of the Employment Agreement (except for Section 7.a (iii) from which he is released) and agrees to abide by the terms
and conditions of such Section. 
  

	6.	Separation Compensation. 

  
 Notwithstanding anything herein to the contrary, and notwithstanding any external or internal statements to the contrary, Rogers’ retirement and separation from
employment shall be considered a “Termination by Company not for Cause” under the Employment Agreement dated June 1, 2003 (the “Employment Agreement”) with payments to be made in accordance with the Company’s usual and
customary payroll practices. Rogers shall be entitled to severance, related post-employment compensation and all other benefits of the Employment Agreement as applicable to a “Termination by Company not for Cause.” 
  

	7.	Stock. 

  
 Rogers has been the recipient from time to time of grants of stock options. Nothing in this Agreement is intended to affect any rights he may have, or in any way alter the rights and obligations specified in the
option agreements and plan, except that in accordance with the Employment Agreement all unvested options shall vest upon the Retirement Date and he shall thereafter have two years from the Retirement Time to exercise his vested options. 

 

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	8.	Benefit Plans. 

  
 Except as otherwise provided herein, Rogers’s entitlement to any other benefits afforded by any Company benefit plans are governed solely by their applicable plans and policies and by the provisions of law.

  

	9.	Cooperation and Consultation. 

  
 For a period of three (3) months from the Retirement Time (the “Consulting Period”) Rogers shall provide future services in the form of advice and consultation
at the request of the Company. Except where mutually agreed, Rogers shall not be required to devote more than two days per week to such services. During the Consulting Period, Rogers shall be paid a consulting fee of $1,000 per day or substantial
portion thereof actually spent on providing such services, in addition to any pay or benefits provided under this Agreement and he shall be promptly paid upon presentation of his invoice and promptly reimbursed for his reasonable expenses in
providing such services. If the Company does not hire a full time CEO until after the Consulting Period, Rogers agrees, at the request of the Company, to provide consulting services to the Company during the first two weeks of employment of the new
CEO pursuant to the terms of this Section 9, except in such circumstance Rogers may be asked to provide more than two days per week of services. The Company shall hold Rogers harmless and indemnify him for any acts done on the Company’s behalf
during the Consulting Period to the same degree as if he were acting as an executive employee of the Company. Following the Consulting Period, any future services shall be mutually agreed upon and negotiated between the parties. 
  

	10.	Non-disparagement and Public Communication. 

  

	(a)	Rogers will not make statements that disparage or malign the reputation or abilities of the Company as it is defined in this Agreement. 

  

	(b)	The Company will not make statements that disparage or malign the reputation or abilities of Rogers. 

  

	(c)	Neither party shall be in breach of this provision as a result of giving truthful testimony in a matter in which the Company is a party or related to a party.

  

	(d)	The parties agree that in publicly discussing Rogers’ separation they will state generally that Rogers has devoted his attentions for a number of years to advancing the company
through a wide variety of responsibilities, and that he has decided to retire to devote his attention to a number of personal interests. 

  

	11.	Releases. 

  
 The parties shall sign such a waiver of claims in connection with the provision of the Employment Agreement in the event of a “Termination by Company not for Cause” which is attached hereto as Exhibit A (the
“Waiver of Claims”). The execution and 
  

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 delivery of the Waiver of Claims (and Rogers not revoking such Waiver of Claims) is an express condition to Rogers
receiving any separation compensation referred to herein or the Employment Agreement. 
  

	12.	Acknowledgements. 

  
 Each party acknowledges that the parties have made certain assumptions and characterizations regarding the ultimate tax and other effects of this Agreement and that no party has relied upon any statement made by any
other party concerning such effects. 
  

	13.	Integration. 

  
 This Agreement shall inure to the benefit of and shall be binding upon the parties hereto and their respective executors, administrators, heirs, personal representatives and successors, and assigns. The Parties agree
that this Agreement (together with the documents incorporated by reference or otherwise identified, including the provisions of the Employment Agreement which by their terms continue in effect) states the entire agreement of the Parties and
supersedes all prior and contemporaneous negotiations and agreements, oral or written. 
  

	14.	Severability and Governing Law. 

  
 The Parties agree that any provision of this Agreement that is held to be illegal, invalid, or unenforceable under present or future laws shall be fully severable. The
Parties further agree that this Agreement shall be construed and enforced as if the illegal, invalid, or unenforceable provision had never been a part of this Agreement and the remaining provisions of this Agreement shall remain in full force and
effect and shall not be affected by the illegal, invalid, or unenforceable provision or by its severance from this Agreement. Furthermore, a provision as similar to the illegal, invalid, or unenforceable provision as is possible and legal, valid,
and enforceable shall be automatically added to this Agreement in lieu of the illegal, invalid, or unenforceable provision. The Parties also agree that Oregon law shall govern the validity and enforceability of this Agreement, and that venue shall
be in the state of Oregon, County of Multnomah. 
  

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	15.	Resolution of disputes. 

  
 Any dispute between the Parties concerning the interpretation, application, or claimed breach of this Agreement shall be submitted to binding, confidential arbitration in
Portland, Oregon in accordance with the provisions governing arbitration as set forth in the Employment Agreement. 
  

			
	

	 	 	Ray R. Rogers
		
	 Date:
	 	  

	
	Oxis International, Inc.
		
	 By:
	 	  

		
	 Date:
	 	  

  

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