Document:

Revised Performance-based Stock Unit Award Agreement

 Exhibit 10(a) 
  
 ABX AIR, INC. 
 2005 LONG-TERM-INCENTIVE PLAN 
  
 PERFORMANCE-BASED STOCK UNITS 
 INSTRUCTIONS FOR COMPLETING AWARD AGREEMENT 
  

	1.00 	Type of Award 

  
 This Award Agreement is to be used only to grant Performance-based stock units to employees. 
  

	2.00 	Instructions for Completing This Form 

  
 To complete this form: 
  

	 	•	 	Select the “edit” option from your P.C.’s horizontal menu bar. 

  

	 	•	 	Select “Replace” from the drop-down dialogue box. 

  

	 	•	 	Using the “Replace” dialogue box: 

  

	 	•	 	In the “Find what” box, type the code of the item to be replaced from the code sheet accompanying this form (using all capital letters or initial capital letters as
indicated on the code sheet); 

  

	 	•	 	In the “Replace with” box, type the information to be substituted for the coded item (using all capital letters or initial capital letters as indicated on the code sheet);

  

	 	•	 	Click “match case”; and 

  

	 	•	 	Click on the “Replace all” box. 

  

	 	•	 	Repeat this procedure for each code to be replaced. 

  

 ABX AIR, INC. 
 2005 LONG-TERM INCENTIVE PLAN 
  
 PERFORMANCE-BASED STOCK UNIT AWARD AGREEMENT 
  
 Code Sheet 
  
 The
following codes are used in this Award Agreement and should be replaced using your P.C.’s “Replace” function (see instructions accompanying this form). 
  

			
	 VTA
	  	Grantee’s name (all capital letters)
		
	 VTB
	  	Grant Date (all capital letters)
		
	 Vtb
	  	Grant Date (initial capital letters only)
		
	 Vte
	  	Date that is 30 days after Grant Date (initial capital letters only)
		
	 Vtq
	  	Grantee’s name (initial capital letters only)

  

 THIS FORM OF AWARD AGREEMENT IS PART OF A PROSPECTUS COVERING 
 SECURITIES THAT HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 
  
 ABX AIR, INC. 
  

2005 LONG-TERM INCENTIVE PLAN 
  
 PERFORMANCE-BASED STOCK UNIT 
  
 GRANTED TO VTA ON VTB 
  
 ABX Air, Inc. (“Company”) and its shareholders believe that their business interests are best served by extending to you an opportunity to earn additional
compensation based on the growth of the Company’s business. To this end, the Company and its shareholders adopted the ABX Air, Inc. 2005 Long-Term Incentive Plan (“Plan”) as a means through which you may share in the Company’s
success. This is done by granting Awards to key employees like you. If you satisfy the conditions described in this Agreement (and the Plan), your Award will mature into common shares of the Company. 
  
 This Award Agreement describes many features of your Award and the conditions you must meet
before you may receive the value associated with your Award. To ensure you fully understand these terms and conditions, you should: 
  

	 	•	 	Read the Plan and the Plan’s Prospectus carefully to ensure you understand how the Plan works; 

  

	 	•	 	Read this Award Agreement carefully to ensure you understand the nature of your Award and what must happen if you are to earn it; and 

  

	 	•	 	Contact W. Joseph Payne at (937) 382-5591 ext. 2686 if you have any questions about your Award. 

  
 Also, no later than Vte, you must return a signed copy of the Award Agreement to: 
  
 W. Joseph Payne 
 ABX Air, Inc. 
 145 Hunter Drive 

Wilmington, Ohio 45177 
  
 If you do not do this, your Award will be revoked automatically as of the date it was granted and you will not be entitled to receive anything on account of the
retroactively revoked Award. 
  
 Section 409A of the Internal Revenue Code
(“Section 409A”) imposes substantial penalties on persons who receive some forms of deferred compensation (see the Plan’s Prospectus for more information about these penalties). Your Award has been designed to avoid these penalties.
However, because the Internal Revenue Service has not yet issued rules fully defining the effect of Section 409A, it may be necessary to revise your Award Agreement if you are to avoid these penalties. As a condition of accepting this Award, you
must agree to accept those revisions, without any further consideration, even if those revisions change the terms of your Award and reduce its value or potential value. 
  

 1 

 Nature of Your Award 
  
 You have been granted an Award consisting of stock units, which will be converted to common shares of the Company if the conditions
described in this Award Agreement are met. Federal income tax rules apply to the payment of your Award. These and other conditions affecting your Award are described in this Award Agreement, the Plan and the Plan’s Prospectus, all of which you
should read carefully. 
  
 No later than Vte, you must return a signed copy of
this Award Agreement to: 
  
 W. Joseph Payne 
 ABX Air, Inc. 
 145 Hunter Drive 

Wilmington, Ohio 45177 
  
 If you do not do this, your Award will be revoked automatically as of the Grant Date and you will not be entitled to receive anything on account of the retroactively
revoked Award. 
  
 Grant Date: Your Performance Units were issued on Vtb.

  
 This is the date you begin to earn your Award. 
  
 Amount of Award: The amount of your Award and the conditions that must be met before
it will be earned is discussed below in the section below titled “When Your Award Will Be Settled.” 
  
 Performance Period: The period that begins on the Grant Date (i.e., Vtb) and ends on December 31, 2007. 
  
 This is the period over which the Plan committee will determine if you have met the
conditions imposed on your Award. 
  
 When Your Award Will
Be Settled 
  
 Settlement: At the end of the Performance Period, your
stock units will be converted to an equal number of common shares of the Company or forfeited depending on: 
  

	 	•	 	The extent to which the appreciation of the Company stock during the Performance Period equals or exceeds the Total Shareholder Return (TSR) performance of the NASDAQ Transportation
Index during the same period (these stock units are referred to as “Stock Performance Units”); and 

  

	 	•	 	How the Company’s Average Return on Equity during the Performance Period compares to the levels specified in the table below (these stock units are referred to as “ROE
Units”). 

  
 The tables below demonstrate how
these criteria will affect your Award. However, before analyzing those tables, it is important that you understand that: 
  

 2 

	 	•	 	Separate criteria are applied to each of the parts of your Award. This means that you might earn Stock Performance Units at the threshold level but earn your ROE Units at the
maximum level. 

  

	 	•	 	The NASDAQ Transportation Index is a group of transportation corporations whose stock is traded on the NASDAQ. 

  

	 	•	 	Average Return on Equity is a financial performance measure in which the Company’s net income (i.e., income after taxes and expenses) is divided by the Company’s
shareholders’ equity. For purposes of this Plan, average ROE will be calculated as follows: The Performance Period will be comprised of three fiscal years. To calculate average ROE for each fiscal year (except the partial fiscal year beginning
Vtb) within the Performance Period, the Company’s net income for each fiscal year will be divided by the average of shareholders’ equity at the beginning of the fiscal year and at the end of the same fiscal year. For the first (partial)
fiscal year ending December 31, 2005, average ROE will be the Company’s net income for the period beginning Vtb and ending December 31, 2005 divided by the average of shareholders’ equity on the same dates and “annualized,” by
dividing this figure by three and multiplying the result by four. The figures calculated for each fiscal period within the performance period will then be added together and divided by three to produce the overall, average ROE for a three-year
performance period. 

  
 Your Stock Performance
Units 
  
 You will earn or forfeit all or part of your Stock Performance Units
based on Company performance, as described in the following table: 
  

			
	 If, on December 31, 2007, the Company’s
 stock performance is

	 	 You will receive the following number of
 shares of Company stock

	 Below the 25th percentile of the NASDAQ Transportation Index
	 	0
		
	 At the 25th percentile of the NASDAQ Transportation Index (“threshold Stock Performance Unit level”)
	 	*
		
	 At the 50th percentile of the NASDAQ Transportation Index (“target Stock Performance Unit level”)
	 	*
		
	 At the 75th or higher percentile of the NASDAQ Transportation Index (“maximum Stock Performance Unit Level”)
	 	*

	*	Note: For performance outcomes between the 25th
percentile and the 75th percentile levels, actual awards will be interpolated. 

  

 3 

 Your ROE Units 
  
 You will earn or forfeit all or part of your ROE Units based on Company performance, as described in the following table: 
  

			
	 If, over the Performance Period, the Company’s
 Average Return on Equity is

	 	 You will receive the following number of
 shares of Company stock

	 Less than 15%
	 	0
	 15% (“threshold ROE Unit level”)
	 	*
	 20% (“target ROE Unit level”)
	 	*
	 25% or higher (“maximum ROE Unit level”)
	 	*

	*	Note: For performance outcomes between the 15% ROE and 25% ROE levels, actual awards will be interpolated. 

  
 As noted above, between the threshold and maximum performance levels, actual awards will be
calculated by interpolating between the ranges shown in the preceding tables. This interpolation will be done only in whole increments (full percentiles for the Stock Performance Units and full percentages for the ROE performance units) and will not
be applied below the threshold level or above the maximum level. 
  
 Example 1: assume that the Company’s stock performance for the Performance Period is at the 60th percentile (ten full percentiles above the “target Stock Performance Unit level”). In this case, you will receive          shares of Company stock (because whole percentiles
between the threshold and maximum levels are interpolated). 
  
 Example 2: assume that the Company’s Average Return on Equity for the Performance Period is 21 percent (one full percentage point above the “target ROE Unit level”). In this case, you will receive
         shares of Company stock (because whole percentages between the threshold and maximum levels are interpolated). 
  
 Example 3: assume that the Company’s Average Return on Equity for the Performance Period is 14 percent (one full
percentage point below the lowest range of the “threshold ROE Unit level”). In this case, all of the ROE Units will be forfeited (because no interpolation is applied below the threshold level). 
  
 Example 4: assume that the Company’s stock performance for the
Performance Period is at the 35.5th percentile (ten and one-half percentiles above the “threshold Stock
Performance Unit level”). In this case, you will receive          shares of Company stock (the payout at the 35th percentile, because only whole percentiles are interpolated). 
  
 How Your Performance Units Might Be Settled Before the End of the Performance Period: If there is a Business Combination (as defined in the Plan) while you are employed, all performance criteria will be deemed
to have been met at the threshold level or at any higher level actually achieved as of the date of the Business Combination (“Accelerated Units”) and you will receive cash or stock (depending on the nature of the Business Combination) as
if the Performance Period ended on the date of the Business Combination. The amount you will receive will be determined under the following formula: 
  
 Your Accelerated Units multiplied by the number of whole months between the beginning of the Performance Period and the date of the Business
Combination 

 Divided by the number of whole months in the Performance Period

  
 How Your Performance Units Are Settled if You Die, Retire or Become
Disabled Before the End of the Performance Period: If your employment terminates before the end of the Performance Period (and before a Business Combination) because of death, disability (as defined in the Plan) or after qualifying for
retirement under the ABX Air, Inc. Retirement Income Plan, you may receive a portion of your Award. The amount (if any) you will receive will depend on whether (and the extent to which) the performance criteria are met at the end of the
Performance Period, not when you terminate employment. If the performance criteria are met at the end of the Performance Period during which you terminate because of death, disability or retirement, you 

  

 4 

 
(or your beneficiary) will receive the number of shares you would have received if you had remained actively employed until the end of that Performance
Period multiplied by the number of whole years (i.e., elapsed 12-consecutive-month periods) between the first day of the Performance Period and the date you terminate employment because of death, retirement or disability and divided by
the number of whole years (i.e., elapsed 12-consecutive-month periods included in the Performance Period). 
  
 How Your Performance Units May Be Forfeited: You will forfeit your Performance Units if, before your Performance Units are settled: 
  

	 	•	 	You terminate employment voluntarily (and before you are eligible for retirement) or if you are involuntarily terminated by the Company for any reason (or for no reason) before the
Normal Settlement Date (and you are not then eligible for retirement); 

  

	 	•	 	You commit any act of fraud, intentional misrepresentation, embezzlement, misappropriation or conversion of any of the Company’s or any Subsidiary’s (as defined in the
Plan) assets or business opportunities; 

  

	 	•	 	You are convicted of, or enter into a plea of nolo contendere to, a felony; 

  

	 	•	 	You intentionally, repeatedly or continually violate any of the Company’s policies or procedures after notice that you have violated a Company policy or procedure;

  

	 	•	 	You breach any written covenant or agreement with the Company or any Subsidiary, including the terms of the Plan; 

  

	 	•	 	Without the Company’s advance written consent, you agree to or actually serve in any capacity for a business or entity that competes with any portion of the Company’s or
any Subsidiary’s (as defined in the Plan) business or provide services (including business consulting) to an entity that competes with any portion of the Company’s or any Subsidiary’s business; 

  

	 	•	 	You refuse or fail to consult with, supply information to or otherwise cooperate with the Company after having been requested to do so; or 

  

	 	•	 	You deliberately engage in any action that the Company decides harms the Company or any Subsidiary. 

  
 Settling Your Award 
  
 If all applicable conditions have been met, your Performance Units will be settled
automatically. 
  
 Other Rules Affecting Your Award

  
 Rights During the Performance Period: During the Performance
Period, you will not actually own the shares that you might receive at the end of the Performance Period. This means that you may not exercise any voting rights or receive any dividends associated with those shares until your Award is settled.

  

 5 

 Beneficiary Designation: You may name a Beneficiary or Beneficiaries to receive any shares associated with your
Performance Units that are settled after you die. This may be done only on the attached Beneficiary Designation Form and by following the rules described in that form and in the Plan. If you have not made an effective Beneficiary designation, your
Beneficiary will be your surviving spouse or, if you do not have a surviving spouse, your estate. 
  
 Tax Withholding: Income taxes must be withheld when your Award is settled (see the Plan’s Prospectus for a discussion of the tax treatment of your Award). These taxes may be paid in one of several ways.
They are: 
  

	 	•	 	The Company may withhold this amount from other amounts owed to you (e.g., from your salary). 

  

	 	•	 	You may pay these taxes by giving the Company a check (payable to “ABX Air, Inc.”) in an amount equal to the taxes that must be withheld. 

  

	 	•	 	By having the Company withhold a portion of the shares that otherwise would be distributed. The number of shares withheld will have a fair market value equal to the taxes that must
be withheld. 

  

	 	•	 	You may give the Company other shares of Company stock (that you have owned for at least six months) with a value equal to the taxes that must be withheld. 

 
 You may choose the approach you prefer, although the Company may reject your preferred
method for any reason (or for no reason). If this happens, the Company will specify (from among the alternatives just listed) how these taxes are to be paid. 
  
 If you do not choose a method within 30 days of the Settlement Date, the Company will withhold a portion of the shares that otherwise would be distributed. The number of
shares withheld will have a fair market value equal to the taxes that must be withheld and the balance of the shares will be distributed to you. 
  
 Transferring Your Performance Units: Normally your Performance Units may not be transferred to another person. However, you may complete a Beneficiary Designation
Form to name the person to receive any stock that is distributed after you die. Also, the Committee may allow you to place your Performance Units into a trust established for your benefit or the benefit of your family. Contact W. Joseph Payne at
(937) 382-5591 ext. 2686 or at the address given below if you are interested in doing this. 
  
 Governing Law: This Award Agreement will be construed in accordance with and governed by the laws (other than laws governing conflicts of laws) of the United States and of the State of Ohio, except to the
extent that the Delaware General Corporation Law is mandatorily applicable. 
  
 Other Agreements: Also, your Performance Units will be subject to the terms of any other written agreements between you and the Company. 
  

 6 

 Adjustments to Your Performance Units: Your Award will be adjusted, if appropriate, to reflect any change to the
Company’s capital structure (e.g., the number of your Performance Units will be adjusted to reflect a stock split). 
  
 Other Rules: Your Stock Performance Units are also subject to more rules described in the Plan and in the Plan’s Prospectus. You should read both these
documents carefully to ensure you fully understand all the conditions of this Award. 
  
 Tax Treatment of Your Award 
  
 The federal
income tax treatment of your Performance Units is discussed in the Plan’s Prospectus. 
  
 ***** 
  
 You may contact W. Joseph Payne at (937)
382-5591 ext. 2686 or at the address given below if you have any questions about your Award or this Award Agreement. 
  
 ***** 
  
 Your Acknowledgment of Award Conditions 
  
 Note: You must
sign and return a copy of this Award Agreement to W. Joseph Payne at the address given below no later than Vte. 
  
 By signing below, I acknowledge and agree that: 
  

	 	•	 	A copy of the Plan has been made available to me; 

  

	 	•	 	I have received a copy of the Plan’s Prospectus; 

  

	 	•	 	I understand and accept the conditions placed on my Award and understand what I must do to earn my Award; 

  

	 	•	 	I will consent (on my own behalf and in behalf of my beneficiaries and without any further consideration) to any change to my Award or this Award Agreement to avoid paying penalties
under Section 409A of the Internal Revenue Code, even if those changes affect the terms of my Award and reduce its value or potential value; and 

  

	 	•	 	If I do not return a signed copy of this Award Agreement to the address shown below not later than Vte, my Award will be revoked automatically as of the date it was granted and I
will not be entitled to receive anything on account of the retroactively revoked Award. 

  

	
	Vtq
	
	  
	 (signature)

	 Date
signed:                                

  

 7 

 A signed copy of this form must be sent to the following address no later than Vte: 
  
 W. Joseph Payne 
 ABX Air, Inc. 
 145 Hunter Drive 

Wilmington, Ohio 45177 
  
 After it is received, the ABX Air, Inc. 2005 Long-Term Incentive Plan Committee will acknowledge receipt of your signed agreement. 
  
 ***** 
  
 Committee’s Acknowledgment of Receipt 
  
 A signed copy of this Award Agreement was received on
                        . 
  

			
		
	By:	 	 
	 Vtq:
	 	 

  
              Has complied with the conditions imposed on the grant and the Award and the Award Agreement remains in effect; or 
  
              Has not complied with the conditions imposed on the grant and the Award and the Award Agreement are revoked as of the Grant Date because 
 __________________________________________________________________________________ 
 describe deficiency 
  
 ABX Air, Inc. 2005 Long-Term Incentive Plan Committee 
  

			
	 
		
	By:	 	 
		
	Date:	 	 

  
 Note: Send a copy of
this completed form to Vtq and keep a copy as part of the Plan’s permanent records. 
  

 8 

 ABX AIR, INC. 
 2005 LONG-TERM INCENTIVE PLAN 
 BENEFICIARY DESIGNATION FORM 
  
 RELATING TO PERFORMANCE STOCK UNITS ISSUED TO VTA ON VTB 
  
 Instructions for Completing This Form 
  
 You may use this form to [1] name the person you want to receive any amount due under
the ABX Air, Inc. 2005 Long-Term Incentive Plan after your death or [2] change the person who will receive these benefits. 
  
 There are several things you should know before you complete this form. 
  
 First, if you do not elect another Beneficiary, any amount due to you under the Plan when you die will be paid to your surviving spouse or, if you have no
surviving spouse, to your estate. 
  
 Second, your election will not be
effective (and will not be implemented) unless you complete all applicable portions of this form. 
  
 Third, your election will be effective only if this form is completed properly and returned to W. Joseph Payne at the address given below. 
  
 Fourth, all elections will remain in effect until they are changed (or until all death benefits are paid). 
  
 Fifth, if you designate your spouse as your Beneficiary but are subsequently divorced
from that person (or your marriage is annulled), your Beneficiary designation will be revoked automatically. 
  
 Sixth, if you have any questions about this form or if you need additional copies of this form, please contact W. Joseph Payne at (937) 382-5591 ext. 2686 or at the address given below. 
  

 9 

 1.00 Designation of Beneficiary 
  

	1.01 	Primary Beneficiary: 

  
 I designate the following persons as my Primary Beneficiary or Beneficiaries to receive any amount due under the Award Agreement described at the top of
this form after my death. This benefit will be paid, in the proportion specified, to: 
  
                     %
to                                       
                                        
                                        
                    
                                        
         (Name)                              
                                        
          (Relationship) 
  
 Address:
                                        
                                        
                                        
                               
  
  
                     %
to                                       
                                        
                                        
                    
                                        
         (Name)                              
                                        
          (Relationship) 
  
 Address:
                                        
                                        
                                        
                               
  
                     %
to                                       
                                        
                                        
                    
                                        
         (Name)                              
                                        
          (Relationship) 
  
 Address:
                                        
                                        
                                        
                               
  
                     %
to                                       
                                        
                                        
                    
                                        
         (Name)                              
                                        
          (Relationship) 
  
 Address:
                                        
                                        
                                        
                               
  

	1.02 	Contingent Beneficiary 

  
 If one or more of my Primary Beneficiaries dies before I die, I direct that any amount due under the Award Agreement described at the top of this form after
my death: 
  
              Be paid to my other named Primary Beneficiaries in proportion to the allocation given above (ignoring the interest allocated to the deceased Primary
Beneficiary); or 
  
              Be distributed among the following Contingent Beneficiaries. 
  
                     %
to                                       
                                        
                                        
                    
                                        
         (Name)                              
                                        
          (Relationship) 
  
 Address:
                                        
                                        
                                        
                               
  
                     %
to                                       
                                        
                                        
                    
                                        
         (Name)                              
                                        
          (Relationship) 
  
 Address:
                                        
                                        
                                        
                               
  
                     %
to                                       
                                        
                                        
                    
                                        
         (Name)                              
                                        
          (Relationship) 
  
 Address:
                                        
                                        
                                        
                               
  
                     %
to                                       
                                        
                                        
                    
                                        
         (Name)                              
                                        
          (Relationship) 
  
 Address:
                                        
                                        
                                        
                               
  
 **** 
  

 10 

 Elections made on this form will be effective only after this form is received by W. Joseph Payne and only if it is
fully and properly completed and signed. 
  
 Name: Vtq 
  
 Soc. Sec. No.:
                                        
                                        
                                        
                                        
                             
  
 Date of Birth:
                                        
                                        
                                        
                                        
                             
  
 Address:
                                        
                                        
                                        
                                        
                                     
  
 ___________________________________________________________________________________________

  
 Sign and return this form to W. Joseph Payne at the address given below

  

					
			
	  	 	 	 	  
	 Date
	 	 	 	 Signature

  
 Return this signed form to W.
Joseph Payne at the following address: 
  
 W. Joseph Payne

 ABX Air, Inc. 
 145 Hunter
Drive 
 Wilmington, Ohio 45177 
  
 Received on:
                                     
  
 By:
                                        
                                        

  

 11First Amendment to Credit Agreement

 Exhibit 10.2 
  
 FIRST AMENDMENT TO CREDIT AGREEMENT 
  
 THIS FIRST AMENDMENT TO CREDIT AGREEMENT (the “Amendment”) dated as of July 7, 2005, is to that
certain Credit Agreement dated as of July 29, 2004 (as amended and modified from time to time, the “Credit Agreement”), by and among ALBEMARLE CORPORATION, a Virginia corporation (the “Company”), ALBEMARLE
CATALYSTS INTERNATIONAL, L.L.C., a Delaware limited liability company (the “Borrower”), THE SUBSIDIARIES OF THE COMPANY FROM TIME TO TIME PARTIES THERETO AND IDENTIFIED AS “GUARANTORS” ON THE SIGNATURE PAGES
HERETO (collectively with the Company, the “Guarantors”), THE PERSONS FROM TIME TO TIME PARTIES THERETO AND IDENTIFIED AS “LENDERS” ON THE SIGNATURE PAGES HERETO (the “Lenders”) and BANK OF
AMERICA, N.A., as administrative agent (the “Agent”). 
  
 W I T N E S S E T H 
  
 WHEREAS, the Lenders have, pursuant to the terms of the Credit Agreement, made available to the Borrower and the Guarantors a revolving credit facility and term loan in the aggregate original principal amount of $750,000,000;

  
 WHEREAS, the parties hereto have agreed to amend the
Credit Agreement as set forth herein; 
  
 NOW, THEREFORE, IN
CONSIDERATION of the premises and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows: 
  
 A. Definitions. Unless the context otherwise requires, capitalized terms used but not otherwise defined herein
shall have the meanings assigned in the Credit Agreement. 
  
 B. Amendments. 
  
 1. The pricing grid
appearing in the definition of “Applicable Rate” in Section 1.01 of the Credit Agreement is hereby amended to read as follows: 
  

																		
	 Pricing
 Level

	 	 Debt Rating
 S&P/Moody’s

	 	 Applicable Rate
for Eurocurrency
Rate Loans
(Revolving
 Loans and
Letters of Credit

	 	 	 Applicable
Rate for
Eurocurrency
Rate Loans
 (Term Loan)

	 	 	Applicable
Rate for Base
Rate Loans
(Revolving
Loans)

	 	 	 Applicable
Rate for
Base Rate
Loans
 (Term
Loan)

	 	 	 Facility
 Fee

	 
	1	 	BBB+/Baa1or
better	 	0.425	%	 	0.525	%	 	0.000	%	 	0.000	%	 	0.100	%
	2	 	BBB/Baa2	 	0.500	%	 	0.625	%	 	0.000	%	 	0.000	%	 	0.125	%
	3	 	BBB-/Baa3	 	0.575	%	 	0.750	%	 	0.000	%	 	0.000	%	 	0.175	%
	4	 	BB+/Ba1	 	0.925	%	 	1.250	%	 	0.000	%	 	0.250	%	 	0.325	%
	5	 	BB/Ba2 or
worse or unrated	 	1.175	%	 	1.625	%	 	0.175	%	 	0.625	%	 	0.450	%

 2. The definition of “Revolving Commitment” in Section 1.01 of the Credit Agreement is hereby
amended to read as follows: 
  
 “Revolving Commitment” means, as to each Revolving Lender, the commitment of such Lender to make Revolving Loans and to participate in L/C Obligations in an aggregate principal amount at any one time outstanding not to
exceed the amount set forth as such Revolving Lender’s “Revolving Commitment” as set forth on Schedule 2.01 or in the Assignment and Assumption or other documentation delivered pursuant to Section 2.01(c) pursuant to
which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement. 
  
 3. A new Section 2.01(c) is hereby added to the Credit Agreement to read as follows: 
  
 (c) Increases of the Aggregate Revolving Commitments. The Company shall have the right, upon at least
fifteen (15) Business Days’ prior written notice to the Administrative Agent but without the consent of the Required Lenders, to increase the Aggregate Revolving Commitments by up to $50,000,000 in the aggregate in up to five (5) increases, at
any time and from time to time after the Closing Date, subject, however, in any such case, to satisfaction of the following conditions precedent: 
  

(i) the Aggregate Revolving Commitments shall not exceed $350,000,000 without the consent of the Required Lenders; 
  
 (ii) no Default shall have occurred and be continuing on the
date on which such increase is to become effective; 
  
 (iii) the representations and warranties set forth in Article VI shall be true and correct in all material respects on and as of the date on which such increase is to become effective, except to the extent that such representations
and warranties specifically refer to an earlier date, in which case they shall be true and correct as of such earlier date, and except that for purposes of this Section 2.01(c), the representations and warranties contained in subsections (a)
and (b) of Section 6.05 shall be deemed to refer to the most recent statements furnished pursuant to clauses (a) and (b), respectively, of Section 7.01; 
  
 (iv) such increase shall be in a minimum amount of $10,000,000 (or such lesser amount as agreed upon by the
Company and the Administrative Agent) and in integral multiples of $1,000,000 in excess thereof; 
  
 (v) such requested increase shall only be effective upon receipt by the Administrative Agent of (A) additional commitments in a
corresponding amount of such requested increase from either existing Lenders and/or one or more other institutions that qualify as an Eligible Assignee (it being understood and agreed that no existing Lender shall be required to provide an
additional commitment unless it agrees to do so in its sole discretion) and (B) documentation from each institution providing an additional commitment evidencing their commitment and their obligations under this Agreement in form and substance
reasonably acceptable to the Administrative Agent; 
  
 (vi) the Administrative Agent shall have received all documents (including resolutions of the board of directors of the Company) it may reasonably request relating 
  

 2 

 to the corporate or other necessary authority for and the validity of such increase in the Aggregate
Revolving Commitments, and any other matters relevant thereto, all in form and substance reasonably satisfactory to the Administrative Agent; 
  
 (vii) if any Revolving Loans are outstanding at the time of the increase in the Aggregate Revolving Commitments, the Borrowers shall, if
applicable, prepay one or more existing Revolving Loans (such prepayment to be subject to Section 3.05) in an amount necessary such that after giving effect to the increase in the Aggregate Revolving Commitments, each Lender will hold its pro
rata share (based on its Pro Rata Share of the increased Aggregate Revolving Commitments) of outstanding Revolving Loans; and 
  
 (viii) the Company shall pay such fees to the Administrative Agent, for the benefit of the Lenders providing such additional commitments,
as mutually agreed by such Lenders, the Company and the Administrative Agent at the time of such increase. 
  
 4. Section 5.02(a) of the Credit Agreement is hereby amended to read as follows: 
  
 (a) The representations and warranties of the Company and each other Loan Party contained in Article
VI (excluding the representation and warranty contained in subsection (c) of Section 6.05) or any other Loan Document, or that are contained in any document furnished at any time under or in connection herewith or therewith, shall be true
and correct on and as of the date of such Credit Extension, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct as of such earlier date, and except that
for purposes of this Section 5.02, the representations and warranties contained in subsections (a) and (b) of Section 6.05 shall be deemed to refer to the most recent statements furnished pursuant to clauses (a) and (b), respectively,
of Section 7.01. 
  
 C. Conditions Precedent.
This Amendment shall be and become effective as of the date hereof (the “Effective Date”) when the Agent shall have received counterparts of this Amendment, which collectively shall have been duly executed on behalf of each of the
Borrower, the Guarantors, the Agent and the Lenders. 
  
 D.
Expenses. The Company agrees to pay all reasonable costs and expenses of the Agent in connection with the preparation, execution and delivery of this Amendment, including without limitation the reasonable fees and expenses of the
Agent’s legal counsel. 
  
 E. Effect. Except as
expressly modified and amended in this Amendment, all of the terms, provisions and conditions of the Credit Agreement are and shall remain in full force and effect and are incorporated herein by reference, and the obligations of the Loan Parties
hereunder and under the other Loan Documents are hereby ratified and confirmed and shall remain in full force and effect. Any and all other documents heretofore, now or hereafter executed and delivered pursuant to the terms of the Credit Agreement
are hereby amended so that any reference to the Credit Agreement shall mean a reference to the Credit Agreement as amended hereby. 
  
 F. Representations and Warranties. Each Loan Party represents and warrants to the Lenders that (i) the representations and warranties set
forth in Article VI of the Credit Agreement are true and correct on and as of the Effective Date, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct as of
such earlier date, (ii) no Default exists and (iii) none of the Loan Parties has any counterclaims, offsets, credits or defenses to the Loan Documents and the performance of their respective obligations thereunder, or if any Loan Party has any such
claims, counterclaims, offsets, credits or defenses to the Loan Documents or any transaction related to the Loan Documents, the same are hereby waived, relinquished and released in consideration of the Lenders’ execution and delivery of this
Amendment. 
  

 3 

 G. Counterparts. This Amendment may be executed in any number of counterparts (including
facsimile counterparts), each of which when so executed and delivered shall be an original, but all of which shall constitute one and the same instrument. It shall not be necessary in making proof of this Amendment to produce or account for more
than one such counterpart. 
  
 H. Governing Law.
This Amendment shall be governed by and construed in accordance with, the laws of the State of New York. 
  
 I. Successors and Assigns. This Amendment shall be binding upon and inure to the benefit of the parties hereto and their respective
successors and assigns. 
  
 J. Authorization;
Enforceability. Each Loan Party hereby represents and warrants as follows: 
  
 1. Each Loan Party has taken all necessary corporate or other organizational action to authorize the execution, delivery and performance
of this Amendment. 
  
 2. This Amendment has been
duly executed and delivered by each Loan Party, and this Amendment and the Credit Agreement (as amended hereby) constitute the Loan Parties’ legal, valid and binding obligations, enforceable in accordance with their terms, except as such
enforceability may be subject to (a) Debtor Relief Laws and (b) general principles of equity (regardless of whether such enforceability is considered in a proceeding at law or in equity). 
  
 3. No consent, approval, authorization or order of, or
filing, registration or qualification with, any court or Governmental Authority or third party is required in connection with the execution, delivery or performance by any Loan Party of this Amendment. 
  
 [Signatures follow.] 
  

 4 

 IN WITNESS WHEREOF, each of the parties hereto has caused a counterpart of this Amendment to be
duly executed under seal and delivered as of the date and year first above written. 
  

					
	 BORROWER:
	 	 ALBEMARLE CATALYSTS INTERNATIONAL,
 L.L.C., a Delaware limited liability company

			
	 	 	By:	 	  

	 	 	Name:	 	  

	 	 	Title:	 	  

		
	 COMPANY:
	 	 ALBEMARLE CORPORATION,
 a Virginia
corporation

			
	 	 	By:	 	  

	 	 	Name:	 	  

	 	 	Title:	 	  

		
	 GUARANTORS:
	 	 ALBEMARLE OVERSEAS DEVELOPMENT
 CORPORATION, a Virginia corporation

			
	 	 	By:	 	  

	 	 	Name:	 	  

	 	 	Title:	 	  

		
	 	 	 ALBEMARLE VIRGINIA CORPORATION,
 a
Virginia corporation

			
	 	 	By:	 	  

	 	 	Name:	 	  

	 	 	Title:	 	  

		
	 	 	 ALBEMARLE INTERNATIONAL CORPORATION,
 a
Virginia corporation

			
	 	 	By:	 	  

	 	 	Name:	 	  

	 	 	Title:	 	  

		
	 	 	 ACI DELAWARE CORPORATION,
 a Delaware
corporation

			
	 	 	By:	 	  

	 	 	Name:	 	  

	 	 	Title:	 	  

		
	 	 	 ALBEMARLE CATALYSTS U.S., L.L.C.,
 a
Delaware limited liability company

			
	 	 	By:	 	  

	 	 	Name:	 	  

	 	 	Title:	 	  

			
	 ALBEMARLE DELAWARE ONE, L.L.C.,
 a Delaware limited liability company

		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

	
	 ALBEMARLE DELAWARE TWO, L.L.C.,
 a Delaware limited liability company

		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

	
	 ALBEMARLE CATALYSTS COMPANY, LP,
 a Delaware limited partnership

		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

	
	 ALBEMARLE ASIA PACIFIC COMPANY,
 a Virginia corporation

		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

	
	 ALBEMARLE CHINA CORPORATION,
 a Virginia corporation

		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

	
	 ALBEMARLE AGRICULTURAL HOLDINGS LLC,
 a Virginia limited liability company

		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

					
	ADMINISTRATIVE AGENT:	 	 BANK OF AMERICA, N.A., as
 Administrative
Agent

			
	 	 	By:	 	  

	 	 	Name:	 	  

	 	 	Title:	 	  

					
	LENDERS:	 	 BANK OF AMERICA, N.A., as a Lender,
 Swing
Line Lender and L/C Issuer

			
	 	 	By:	 	  

	 	 	Name:	 	  

	 	 	Title:	 	  

			
	UBS LOAN FINANCE LLC,
	as a Lender
		
	By:	 	  

	Name:	 	  

	Title:	 	  

		
	By:	 	  

	Name:	 	  

	Title:	 	  

			
	THE BANK OF NEW YORK
		
	By:	 	  

	Name:	 	  

	Title:	 	  

			
	SUNTRUST BANK
		
	By:	 	  

	Name:	 	  

	Title:	 	  

			
	NATIONAL CITY BANK
		
	By:	 	  

	Name:	 	  

	Title:	 	  

			
	THE NORINCHUKIN BANK, NEW YORK BRANCH
		
	By:	 	  

	Name:	 	  

	Title:	 	  

			
	 SUMITOMO MITSUI BANKING CORP.,
 NEW
YORK

		
	By:	 	  

	Name:	 	  

	Title:	 	  

			
	JPMORGAN CHASE BANK, N.A.
		
	By:	 	  

	Name:	 	  

	Title:	 	  

			
	ABN AMROBANK N.V.
		
	By:	 	  

	Name:	 	  

	Title:	 	  

		
	By:	 	  

	Name:	 	  

	Title:	 	  

			
	BANK OF CHINA, NEW YORK BRANCH
		
	By:	 	  

	 Name:
	 	  

	 Title:
	 	  

			
	 COMMERZBANK AG, NEW YORK AND
 GRAND CAYMAN
BRANCHES

		
	By:	 	  

	Name:	 	  

	Title:	 	  

		
	By:	 	  

	Name:	 	  

	Title:	 	  

			
	CALYON NEW YORK BRANCH
		
	By:	 	  

	Name:	 	  

	Title:	 	  

		
	By:	 	  

	Name:	 	  

	Title:	 	  

			
	FORTIS CAPITAL CORP.
		
	By:	 	  

	Name:	 	  

	Title:	 	  

			
	MIZUHO CORPORATE BANK, LTD.
		
	By:	 	  

	Name:	 	  

	Title:	 	  

			
	UFJ BANK LIMITED, NEW YORK BRANCH
		
	By:	 	  

	Name:	 	  

	Title:	 	  

			
	WACHOVIA BANK, NATIONAL ASSOCIATION
		
	By:	 	  

	Name:	 	  

	Title:	 	  

			
	BANK OF TOYKO-MITSUBISHI
		
	By:	 	  

	Name:	 	  

	Title:	 	  

			
	ROYAL BANK OF SCOTLAND
		
	By:	 	  

	Name:	 	  

	Title:	 	  

			
	ALLIED IRISH BANK
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	AIB DEBT MANAGEMENT LTD
		
	By:	 	  

	Name:	 	  

	Title:	 	  

			
	BRANCH BANKING AND TRUST COMPANY
		
	By:	 	  

	Name:	 	  

	Title:	 	  

			
	WHITNEY NATIONAL BANK
		
	By:	 	  

	Name:	 	  

	Title:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00087-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00087-of-00352.parquet"}]]