Document:

Amended and Restated Agreement

 EXHIBIT 10.1 
  
 CONFIDENTIAL TREATMENT 
  
 PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SECRETARY OF THE COMMISSION PURSUANT TO REGISTRANT’S APPLICATION OBJECTING TO DISCLOSURE
AND REQUESTING CONFIDENTIAL TREATMENT UNDER RULE 24b-2; THE OMITTED PORTIONS HAVE BEEN MARKED WITH BRACKETS. 
  
 AMENDED AND RESTATED 
 AGREEMENT OF SALE 
  
 This Amended and Restated Agreement of Sale (the “Agreement”) is entered into on
the 1st day of January 2005 between: 
  

	1.	Lyondell Chemie Nederland B.V. at Weenapoint D, Weena 762, 3014 DA Rotterdam, The Netherlands (“Seller”); and 

  

	2.	StyroChem Finland Oy having its registered office at P.O. Box 360, 06101 Porvoo, Finland (“Buyer”). 

  
 Whereas, Seller and Buyer entered into an Agreement of Sale dated January 1,
1998 (the “Original Agreement”), pursuant to which Seller agreed to sell, and Buyer agreed to purchase, certain quantities of Styrene Monomer T2, in accordance with the terms and conditions set forth therein; and 
  
 Whereas, Seller and Buyer have agreed to enter into this Amended and
Restated Agreement of Sale, effective as of the date set forth above, to amend certain of the terms and conditions set forth in the Original Agreement, all as more fully set forth below. 
  
 Where this Agreement conflicts with the Original Agreement, this Agreement prevails. 
  
 The parties agree as follows: 
  

	 	1.	Sale and Purchase of Product – Specifications 

  

	 	1.1.	Seller shall sell and Buyer shall purchase the following product: 

  
 Styrene Monomer T2 
  
 Such product is hereinafter referred to as “Product”. 
  

	 	1.2.	The Product shall meet the specifications attached at Annex 1 hereto. 

	 	2.	Quantity 

  

	 	2.1	Buyer shall purchase and Seller shall sell the following quantities of Product +/- 5% at Buyer’s option: 

  

			
	2005	  	            [    ] kt +/- 5%
		
	2006	  	            [    ] kt +/- 5%
		
	2007	  	            [    ] kt +/- 5%
		
	2008	  	            [    ] kt +/- 5%
		
	2009	  	            [    ] kt +/- 5%

  
 Notwithstanding the
foregoing, in the event of force majeure as set out in article 12 or Buyer being placed on Cash on Delivery (COD) or deliveries being suspended pursuant to Section 8.5 and 8.6, such volumes shall be proportionately reduced according to the duration
of the force majeure or the period of COD or suspension as long as Buyer does not purchase Product from an alternative source on a COD basis, as applicable. 
  

	 	2.2	In the event that Buyer wishes to buy quantities of Product in excess of the quantities specified in section 2.1 in any one calendar year, Buyer shall place the additional order
with Seller on or before [ ] of the preceding calendar year and Seller shall notify Buyer of its acceptance or rejection thereof on or before [ ] of the preceding calendar year. Buyer shall use its reasonable endeavours to take the Product in
regular monthly quantities. 

  

	 	2.3	In addition to the annual quantities shown in 2.1 Buyer has the option to nominate up to [ ] tonnes of Product for delivery CIF Finland or FOB Channelview (INCOTERMS 2000) in each
calendar quarter of the Agreement. Articles 4.1.and 4.2 will not apply to such additional quantities. 

  

	 	2.4.1	For deliveries CIF Finland, these quantities will be priced at [    ] plus actual freight paid for that delivery. 

  

	 	2.4.2	For deliveries FOB Channelview, these quantities will be priced at [    ]. 

  

	 	2.4.3	Buyer must elect this option and provide Seller with a notice of required quantity and delivery date by [    ]. 

	 	3.	Duration 

  
 This Agreement shall come into force on 1st January 2005 and shall continue for an initial period of five years. It shall continue thereafter unless and until terminated by either party giving not less than one calendar year prior written notice to the other party
expiring on 31st December 2009 or anniversary thereof. 
  
 In the event that Buyer is acquired by a styrene producer who elects to
bring its own styrene supply into Buyer’s plant(s), Buyer may, subsequent to its acquisition, serve limited notice of termination of this Agreement. 
  
 Under such limited notice, this Agreement will remain in full force throughout the 18 months period following closure date of the sale of the business
whereby Buyer will purchase a minimum of [    ] tonnes of Product in regular monthly quantities during the 18 month period following closure of the sale of the business to such styrene producing buyer. Thereafter, the Agreement
shall terminate. 
  
 Buyer will notify Seller of such potential
sale of business once Buyer enters into a binding letter of intent to sell such business to a styrene producing buyer, who wants to bring their own Product into Buyer’s plant(s). 
  

	 	4.	Price and Rebate 

  

	 	4.1	The price for each tonne of the Product is the lowest of: 

  

	 	1)	(CRP1 + [    ]) x
[    ] 

  

	 	2)	[    ] x (CRP1
+[    ]) + [    ] x [    ] 

  

	 	3)	(CRP1 +[    ]) minus
[    ] of Market Premium2 

  

	 	4)	(USGC CMAI market Contract low3) x
[    ] plus freight to Rotterdam4 plus freight from Rotterdam to Buyer’s specified
destination4 

  

	 	5)	[    ] plus freight from the US Gulf coast to Rotterdam4 plus freight from Rotterdam to Buyer’s specified destination4.

  
 Where: 
  

	 	1.	CRP is the agreed Customer Reference Price for the month of the bill of lading or, in the event of no agreement, is equal to [ ] for the month of the bill of lading.

  

	 	2.	Market Premium is equal to (CRP + [    ]) minus COST6 in EUR per tonne. 

  

	 	3.	USGC CMAI market contract low is found in the table ‘CMAI Aromatics Market Weekly’ of the CMAI Aromatics Market Report Weekly and is equal to the lower of the two numbers
in the $/ton column of the CONTRACT group of columns in the row Styrene Contract – named month, in the UNITED STATES group of rows. The price of the Product is to be calculated using the most recent publication of the report having a
publication date on or before the day before the date of the bill of lading. 

	 	4.	The cost of freight from the US Gulf coast to Rotterdam is set at [    ] USD/tonne for the first year of the Agreement and is based on shipments of
[    ] tonne. The cost of freight from Rotterdam to Rauma is set at €[    ]/tonne for the first year of the Agreement. The cost of freight from Rotterdam to Porvoo is set at
€[    ]/tonne for the first year of the Agreement. Seller will propose new freight rates for each route before the start of each Agreement year based on commitments from shippers. In the event that Buyer requires shipment to
another port Seller will propose a rate on an ad hoc basis. 

  

	 	5.	USGC CMAI average spot is found in the table ‘CMAI Aromatics Market Weekly’ of the CMAI Aromatics Market Report Weekly and is equal to the average of the two numbers in
the $/ton column in the SPOT group of columns in the row Styrene (8) – named month, in the UNITED STATES group of rows. Where the named month is the month of the bill of lading. The price of the Product is to be calculated using the most recent
publication of the report having a publication date on or before the day before the date of the bill of lading. 

  

	 	6.	COST equals A+B+C+D+E 

  
 Where: 
  
 A = [    ] EUR/tonne in 2005 escalated at midnight on 31st December of each Agreement year for the following year at the inflation rate ‘CPI, alle huishoudens’, as published by the Dutch CBS. 
  
 B = [    ] EUR/MT (L/L0) fixed cash costs
where 
  
 L = The latest wage index known on the last day
of the relevant month as published by the Dutch CBS under the reference ‘Indexcijfers CAO lonen per maand, inclusief bijzondere belonging (2000 = 100) Chemische industrie, volwassenen’ 
  
 L0 = 114 = The December 2004 index known on the last day of the
relevant month as published by the Dutch CBS under the reference ‘Indexcijfers CAO lonen per maand, inclusief bijzondere belonging (2000 = 100) Chemische industrie, volwassenen 

 C = [    ] [€/MT] * (NG/NGo) variable cash cost, where:

  
 NG = N.V. Nederlandse Gasunie quarterly price (GVS
commodity, defined via formula F below) for natural gas, as published by Energiebeurs Bulletin, including any taxes, monthly fees or other charges expressed in [€cent/Nm3] of standard Groningen natural gas with a calorific
value (HHV) of 35.17 [MJ/Nm3]. 
  
 F = x * P + y *
G + z [€cent/Nm3] 
 x = (11.21 / 500) 
 y = (15.10 / 500) 
 z = 1.975 
 P = P6-0-3 = 6 months average of Platt’s 1% Sulfur Fuel Oil quotation in the period directly preceding the quarter [€/MT] 
 G = G6-0-3 = 6 months average of Platt’s Gas Oil quotation in the period directly preceding the quarter [€/MT] 
  
 Definitions of P and G, and conversion rules from $ to €
will be taken from Gasunie’s Algemene Voorwaarden 
  
 NGo = 13.133 [€cent/Nm3) 
  
 D =
[    ] x average of the Price Range shown for ETHYLENE (CP) FD N.W.E valid for the month of the bill of lading as published in the FEEDSTOCK PRICES table of the weekly Styrene (Europe) report by ICISLOR in EUR/MT. 
  
 E = [    ] x the average of the Price Range
shown for BENZENE (CP) FOB N.W.E valid for the month of the bill of lading as published in the FEEDSTOCK PRICES table of the weekly Styrene (Europe) report by ICISLOR in EUR/MT 
  
 All currencies are to be converted to EURO at the average rate of the month prior to the bill of lading as published by the
European Central Bank at its website www.ecb.int. 
  
 In the
event that any of the foregoing reference publications cease to exist or cease to contain any of the data necessary to determine the reference price(s) in question, or if any of the publications change the basis for determination of any of such data
in a manner which is adverse to either of the parties hereunder, then the reference price in question will be based on such alternative index as most closely approximates the applicable index as constituted on the date of this Agreement and is
reasonably acceptable to the parties hereto. 

	 	4.2	Buyer shall be entitled to an annual volume rebate of [ ]% of the total invoiced volume save that in the event of force majeure as set out in article 12 or Buyer being placed on COD
or deliveries being suspended pursuant to Section 8.5 and 8.6, such volumes shall be proportionately reduced according to the duration of the force majeure or the period of COD or suspension, as applicable. Seller will issue a credit note in [ ] of
the following year which can be offset by Buyer against payment of the December delivery of the previous year. 

  

	 	5.	Mode of Delivery 

  
 The Product shall be delivered by vessel typically in lots of 2,500 – 3,000 tonne to Porvoo or Rauma. In the event that Seller is required to pay
freight charges in excess of [    ]/tonne from Rotterdam to Porvoo or Rauma as a result of smaller shipment sizes or deviations upon Buyer’s request, Buyer shall pay the excess charge. 
  

	 	6.	Delivery Terms 

  

	 	6.1	The Product shall be delivered CIF Rauma (Incoterms 2000) or CIF Porvoo (Incoterms 2000) unless article 6.2 applies. 

  

	 	6.2	If the Price for the Product is as set out in article 4.1, 4) or article 4.1.5) above and Buyer and Seller fail to agree the freight charges, the Product shall be delivered FOB USGC
Channelview (Incoterms 2000). 

  

	 	6.3	In the event that at the time a vessel is to be loaded Buyer has not met Buyer’s credit obligations Seller is not obliged to load such vessel and Buyer is obliged to reimburse
Seller for all reasonable, direct out-of-pocket damages incurred by Seller in cancelling such shipment. 

	

	 	7.	Taxes 

  
 The Buyer shall pay to the Seller in addition to the price herein provided any sales tax and/or value added tax (BTW) tax or equivalent thereof that might
currently or in the future be imposed by any government authority with respect to the sale of the Product by Seller to Buyer. 
  

	 	8.	Payment – Credit 

  

	 	8.1	At the time of shipment, Seller shall send Buyer a provisional invoice in Euros estimating the price for the relevant shipment. 

  

	 	8.2	At the end of any calendar month, Seller shall provide Buyer with a final invoice in Euros for deliveries made during that month. 

  

	 	8.3	Payment must be made by bank transfer [    ]. 

  

	 	8.4	If Buyer does not pay any amount which Buyer owes on the basis of the above Seller shall be entitled to payment of interest on the amount of all Seller’s claims which are
overdue in the amount of [            ]% per month or part of a month during which Buyer remains in default. This interest obligation is also effective for all interest which is due for
longer than a year. 

  

	 	8.5	If Buyer fails to pay Seller in accordance with the above terms, then Seller at its option and without prejudice to its other rights and remedies may (i) terminate this Agreement
forthwith and without notice if Buyer fails to cure such payment obligations within 30 days of notice of default (ii) suspend deliveries until all indebtedness that is due and payable is paid in full and/or (iii) place Buyer on a cash-on-delivery
basis. In the event of default in payment Buyer shall pay Seller’s reasonable out of pocket costs of collection including but not limited to reasonable attorneys’ fees. 

  

	 	8.6	If in the sole and reasonable opinion of Seller the financial standing of Buyer is impaired or unsatisfactory deliveries may be suspended or Buyer may be placed on cash-on-delivery
status until arrangements are made for security satisfactory to Seller or at Seller’s option until all of Buyer’s indebtedness to Seller is paid in full. 

	 	8.7	Except as provided in article 4.2 no prompt payment or other type of discount applies and all payments under this Agreement shall be made at the full invoiced amount.

  

	 	8.8	Loading of new orders is conditional upon Buyer’s credit account with Seller having sufficient free credit limit for the quantity ordered. 

  

	 	9.	Shipments 

  

	 	9.1	Buyer shall place individual orders and give shipping instructions at the latest [    ] days prior to the desired loading date. Seller will secure a vessel with
a [    ] day laycan period. Such laycan can commence at earliest on [    ] day after the shipping instruction or later agreed date. Within [    ] days of the confirmation of the laycan
Seller will reconfirm the laycan as a [    ] day period with the [    ] days previously specified. Subject to weather conditions and safe navigation permitting, the vessel will arrive at the first or only port
of discharge within [    ] days of the first day of the reconfirmed laycan. In the event of a second discharge, again subject to weather conditions and safe navigation permitting, and further subject to there being no delays at
the first discharge port, the vessel will arrive at the second discharge port within [    ] days of the first day of the reconfirmed laycan. 

  

	 	9.2	Buyer shall promptly receive and unload shipments (Buyer to include Sundays and Holidays (SHINC)) and pay all demurrage rental and other charges resulting from Buyer’s delay in
receiving or unloading the Product. 

  
 Buyer has
the following time available for discharge:  
  
 For
[    ] tonnes parcel – [    ] hours 
 For [    ] tonnes parcel –
[    ] hours 
 For [    ] tonnes parcel – [    ] hours 
 For [    ] tonnes parcel – [    ] hours 
 For [    ] tonnes parcel – [    ] hours 
  
 For parcel sizes above [    ] tonnes a minimum discharge rate of [    ] tonnes per
hour is required. 

 Available time not used by Seller during loading is available to Buyer at discharge (Reversible)

  
 If Buyer nominates a parcel size between the parcel sizes
set out above, the time available for discharge is to be prorated for cargo quantities falling between the above matrix parcel sizes. 
  
 The applicable demurrage rates during the agreement period are: 
  
 Vessels up to [    ] tonnes DWT – EUR [    ] per day pro rata 
 Vessels [    ] – [    ] tonnes DWT – EUR [    ] per day pro rata 
 Vessels [    ] – [    ] tonnes DWT – EUR [    ] per day pro rata 
 Vessels above [    ] tonnes DWT – EUR [    ] per day pro rata 
  

	 	9.3	Shipments shall not be diverted or reconsigned by Buyer without the prior written consent of Seller. 

  

	 	9.4	In case of CIF sales, the International Code for Security of Ships and of Port Facilities (ISPS) compliance of the loading berth, the vessel, the loading port and the unloading port
shall be Seller’s responsibility. ISPS compliance of the discharging berth shall be Buyer’s responsibility. Buyer shall fully indemnify Seller for any additional costs incurred by Seller associated with ISPS compliance during the
discharging of product and for any losses or damages incurred by Seller as a result of non compliance during discharging of the product.  

  

	 	10.	Transfer of Title 

  
 Title to the Product shall transfer upon delivery to Buyer. 
  

	 	11.	Risk of Loss – Liability 

  
 Risk of loss in connection with the Product shall pass from Seller to Buyer as specified in the Incoterms 2000. Liability in connection with the Product
shall pass from Seller to Buyer at the same time as the risk of loss. 
  
  

	 	12.	Force Majeure 

  

	 	12.1	When either party’s ability to manufacture or deliver or receive Product or to otherwise perform under this Agreement (other than Buyer’s obligation or ability to make
payment for Product delivered under this Agreement) is impeded restricted or affected (A) by any cause beyond such Party’s reasonable control such as but not limited to (i) fire, explosion, flood, storm, earthquake, tidal wave, war, military
operation, national emergency, civil commotion or other event of the type of the foregoing (ii) any strike or other difference with workers or unions (without regard to the reasonableness of acceding to the demands of such workers or unions) (iii)
any governmental law, regulation, decree, order or similar act or (iv) any shortage in supplies of or impairment in the facilities of production, manufacture, transportation or distribution of either party attributable to (a) mechanical or other
breakdown or failure (b) the order, requisition, request, or recommendation of any governmental agency or acting governmental authority or either party’s compliance therewith (c) governmental proration, regulation or priority or (d) the
inability of Seller to obtain on terms deemed to be reasonable any feedstock or other raw material (including energy) or (B) by any cause beyond such party’s reasonable control similar or dissimilar to any aforementioned cause then the party
whose ability is so impeded restricted or affected shall have the right by notice to the other party to reduce or suspend in part or in full deliveries or receipt of Product hereunder for the period during which such cause persists.

  

	 	12.2	For the purpose of the application and interpretation of the provisions of this Article it is expressly deemed that all Product is to be produced at Seller’s own facilities. If
Seller’s ability to supply Buyer with Product from Seller’s facility is impeded restricted or affected by one or more of the aforesaid causes then Seller shall use its reasonable efforts to supply Product from its worldwide production
capacity. Seller shall not be under the obligation to purchase or obtain the Product for Buyer on the open market or from other producers or suppliers of the Product. 

  

	 	 	However in the event that Seller should nevertheless decide to purchase or obtain Product on the open market or from other producers or suppliers of Product then any such purchase
or obtaining of Product shall not create a continuing obligation for Seller to do so. 

  
  

	 	12.3	Seller’s obligation to sell Product is subject to modification and reduction in accordance with any present or future allocation programme of any governmental authority.

  

	 	12.4	Notwithstanding the other provisions of this article, if Seller’s ability to manufacture or deliver Product is impeded, restricted, or affected by force majeure for a period
exceeding six (6) months, then Buyer shall be entitled, by written notice to Seller, to terminate the Agreement without any further action or formality being required. 

  

	 	13.	Claims 

  

	 	13.1	All claims of Buyer with respect to the quality or quantity of Products sold and delivered pursuant to this Agreement shall be deemed waived and forever barred unless Buyer notifies
Seller of the nature and details of the claim in writing within thirty days after the defect could have reasonably been detected. Any such claim that is not asserted as a claim counterclaim defence or set-off in a judicial proceeding instituted
within one year after Seller’s written denial thereof shall be forever waived barred and released. 

  

	 	13.2	If the Product meets the specifications set out in Annex 1 Buyer assumes all risk and responsibility for the handling of any Product for the results obtained by the use of any
Product in manufacturing processes or otherwise or for the results obtained by the use of any Product in combination with other substances irrespective of the fact that such use or any handling of such Product may be in accordance with any
description advice or suggestion of Seller. If any description advice or suggestion is given it is given and accepted at Buyer’s risk and Seller shall not be responsible or liable therefore or for the results thereof. 

	 	14.	Product Hazards 

  
 Buyer acknowledges receipt of Seller’s Material Safety Data Sheets for Product and is aware of the hazards or risks in handling or using Product.
Buyer shall fully inform its employees, agents, contractors and customers who handle use buy or may be exposed to any Product or such Product’s hazards or risks and shall hold Seller harmless from all claims by its employees and such other
third parties for compensation for damages caused by the Product to the extent such damage is addressed in the Material Safety Data Sheets. Buyer shall provide copies of Seller’s Material Safety Data Sheets and any updates furnished by Seller
to all such employees, agents, contractors and customer and Buyer shall conspicuously post the Material Safety Data Sheets throughout the area of Buyer’s plants or premises where exposure to any Product may occur. 
  

	 	15.	Warranties 

  

	 	15.1	Seller warrants that all Product shall meet the specifications established in this Agreement. 

  

	 	15.2	Seller warrants that all product shall be delivered free of the rightful claim by anyone of infringement of any patent or other right. 

  

	 	15.3	Seller makes no other express or implied warranty, statutory or otherwise, concerning any product including without limitation any warranty of fitness for a particular purpose, any
warranty of merchantability or any warranty as to quality or correspondence with any description or sample. Seller does not warrant against any claim of infringement of any patent based on (1) combinations of any product with other materials or (2)
the use of any product in the operation of any process. 

  

	 	16.	Limitation of Damages 

  
 Buyer’s exclusive remedy for any and all losses or damages resulting from the sale of Product under this Agreement, including but not limited

 
to any allegation of breach of warranty, breach of Agreement, negligence or strict liability shall be limited at Buyer’s option to either the return of
the purchase price or the replacement of the particular product for which a claim is made and proved, plus reasonable out of pocket expenses. 
  

	 	17.	Further Limitation of Damages 

  
 In no event shall either party be liable for any special, consequential, incidental or indirect losses or damages attributable to the sale of Product
under this Agreement or to any other matter arising out of or in connection with this Agreement except that Seller shall be liable for all reasonable expenses (including reasonable legal fees) incurred by Buyer in collecting amounts due from Seller
under the terms of this Agreement or in enforcing any other rightful claims Buyer may have under the terms of this Agreement. 
  

	 	18.	Default 

  
 If either party does not perform, does not timely perform, or does not properly perform one or more of its material obligations within thirty (30) days
after written notification from the other party, is declared bankrupt, applies for a moratorium of payment, starts to liquidate its business, or makes a general arrangement for the benefit of its creditors, the other party shall be entitled to
suspend its obligations until arrangements are made for security satisfactory to such other party or until all indebtedness to such other party is paid in full or at such other party’s option to terminate the Agreement by giving notice of
termination without judicial intervention and without a term of notice. 
  

	 	19.	Confidentiality 

  
 Unless otherwise agreed between the Parties and subject to applicable law and regulation, any information exchanged between Buyer and Seller pursuant to
this Agreement including the content of this Agreement is strictly confidential and shall neither be communicated to any third Party nor be used for other purposes than the performance of this Agreement. 

	 	20.	General 

  

	 	20.1	This Agreement shall be binding upon and inure to the benefit of the successors and assigns of Buyer and the successors and assigns of Seller but shall not be assigned by either
party except to an affiliate without the prior written consent of the other Party. 

  

	 	20.2	This Agreement is to be construed in accordance with English law. Any dispute arising from this Agreement shall be submitted to the competent Court in London England.

  

	 	20.3	No amendment addition to modification or waiver of all or any part of this Agreement shall be of any force or effect unless in writing and signed by Seller and Buyer. If the
provisions of this Agreement and the provisions of any purchase order or order acknowledgement written in connection with this Agreement conflict then the provisions of this Agreement shall prevail. 

  

	 	20.4	The applicability of any conditions of Buyer or Seller other than those set forth herein is expressly rejected. 

  

	 	20.5	Any notice required or permitted under this Agreement shall be given by letter telex or telefax to the Parties as follows: 

  

			
	            To Buyer:	 	StyroChem Finland OY
	 	 	Attention of: Mr Henrik Akermark
	 	 	PO Box 360
	 	 	FIN-0601 Porvoo
	 	 	Finland
		
	            With copy to:	 	StyroChem U.S. Inc.
	 	 	Attention of: Mr Thomas Springer
	 	 	7980 West Buckeye Road
	 	 	Phoenix AZ 85043

					
	 	 	To Seller:	 	Lyondell Chemie Nederland B.V.
	 	 	 	 	Attention of: Business Manager Styrene and Aromatics, Europe
	 	 	 	 	Weenapoint D
	 	 	 	 	Weena 762
	 	 	 	 	3014 DA Rotterdam
	 	 	 	 	The Netherlands

  
 IN
WITNESS WHEREOF Seller and Buyer have executed this Agreement in counterparts as of the date first above written. 
  

			
	LYONDELL CHEMIE NEDERLAND B.V.
		
	By:	 	 [signature illegible]

	Title:	 	Director
	
	STYROCHEM FINLAND OY
		
	By:	 	 /s/ Michael T. Kennedy

	Title:	 	Director

  
  

							
	ANNEX 1	 	 	  	 	 	 
				
	 	 	 	  	 	 	EUROPE SALES SPECIFICATION
	 	 	 	  	 	 	[Graphic Omitted] LYONDELL

  

			
	Material Number:	 	11084
	Product Name:	 	Styrene Monomer

  

									
	 Test Description

	 	Specification Limits

	  	 Unit
 of Measure

	 	 Test
 Method

	 	Minimum

	  	Maximum

	  	 
	 Source Tank
	 	Report	  	 	  	 	 	 
	 Miscellaneous Text
	 	Report	  	 	  	 	 	 
	 Lot Number
	 	Report	  	 	  	 	 	 
	 Styrene Monomer assay
	 	99.80	  	 	  	weight %	 	ASTM5135
	 Ethylbenzene
	 	 	  	100	  	ppm	 	ASTM5135
	 Color, Pt-Co
	 	 	  	10	  	APHA Color	 	ASTM1209
	 Polymer
	 	 	  	10	  	ppm	 	ASTM2121
	 Aldehydes as Benzaldehyde
	 	 	  	100	  	ppm	 	ASTM2119
	 t-Butyl Catechol
	 	10	  	15	  	ppm	 	ASTM4590
	 Peroxides (as H202)
	 	 	  	30	  	ppm	 	ASTM2340
	 Water
	 	 	  	200	  	weight ppm	 	ASTME203
	 Benzene
	 	 	  	1	  	ppm	 	LCC5500
	 TYPICAL VALUES
	 	Report	  	 	  	 	 	 
	 Chlorides as CI
	 	 	  	5	  	ppm	 	ASTM5808
	 Sulfur
	 	 	  	5	  	ppm	 	ASTM3961
	 Specific Gravity @20/4 deg. C
	 	0.905	  	0.908	  	 	 	ASTM4052

  

					
	Issue or Revision Date:	 	03/29/2005	 	Spec Version Number: 4
			
	Material Number	 	11084	 	 

  
 This report has been generated from
our business computing system and lists those properties our company evaluates in conducting batch selection decisions. This report may also contain typical properties and their expected values. This report may not cover your entire specification,
which may include requirements for packaging, shipping, storage, delivery, etc. 
  
 The Information in this bulletin is believed to be accurate and current as of the date of publication. It is the sole responsibility of the customer to determine whether the product is appropriate and suitable for the customer’s
specific use. Lyondell Chemical Company and its affiliates and subsidiaries make no warranties, express or implied, regarding the product or any information contained herein. 
  
 The applicable Material Safety Data Sheet should be reviewed before handling the Lyondell product. Lyondell Chemical Company and its
affiliates and subsidiaries disclaim any liability against infringement of any patent by reason of customer’s use of any Lyondell Chemical Company products in combination with other materials or in any process. 
  

															
	For Further Questions, Please Contact your Customer Service Representative
								
	 France/Portugal:
	 	00.31.10.275.5614	 	Italy:	 	00.31.10.275.5621	 	Spain:	 	00.31.10.275.5661	 	Oxyfuels:	 	00.31.10.275.5698
								
	 Middle East/Africa:
	 	00.31.10.275.5712	 	Benelux:	 	00.31.10.275.5642	 	UK/Scandinavia:	 	00.31.10.275.5673	 	 	 	 
								
	 Germany/Switzerland:
	 	00.31.10.275.5626	 	 	 	 	 	 	 	 	 	 	 	 
	  
 The information
on this report is valid as of 03/29/2005 LNLThirteenth Amendment

 EXHIBIT 10.2 
  
 THIRTEENTH AMENDMENT TO FOURTH AMENDED AND 
 RESTATED REVOLVING CREDIT AND SECURITY AGREEMENT 
  
 THIS THIRTEENTH AMENDMENT TO FOURTH AMENDED AND
RESTATED REVOLVING CREDIT AND SECURITY AGREEMENT (the “Amendment”) is made this      day of June, 2005, by and among
WinCup Holdings, Inc., Radnor Chemical Corporation, StyroChem U.S., Ltd., Radnor Holdings Corporation (“Radnor”), Radnor Delaware II, Inc., StyroChem Delaware, Inc., WinCup Texas, Ltd., StyroChem GP, L.L.C., StyroChem LP, L.L.C., WinCup
GP, L.L.C., and WinCup LP, L.L.C. (each individually a “Borrower” and collectively, “Borrowers”), and PNC Bank, National Association (“PNC”), as Lead Arranger and Administrative Agent (defined below), Fleet Capital
Corporation (“Fleet”), as Documentation Agent (defined below) and Lenders (defined below). 
  
 BACKGROUND 
  
 A. On December 26, 2001, Borrowers, the financial institutions which are now or which hereafter become a party thereto (individually, a “Lender” and collectively, the “Lenders”), and PNC, as agent
for Lenders (PNC in such capacity, the “Agent”) entered into a certain Fourth Amended and Restated Revolving Credit and Security Agreement (as amended, modified, renewed, extended, replaced or substituted from time to time, the “Loan
Agreement”) to reflect certain financing arrangements between the parties thereto. The Loan Agreement and all other documents executed in connection therewith are collectively referred to as the “Existing Financing Agreements.” All
capitalized terms not otherwise defined herein shall have the meaning ascribed thereto in the Loan Agreement. In the case of a direct conflict between the provisions of the Loan Agreement and the provisions of this Amendment, the provisions hereof
shall prevail. 
  
 B. Borrowers, Agent and Lenders modified
certain definitions, terms and conditions contained in the Loan Agreement pursuant to that (i) certain First Amendment to Revolving Credit and Security Agreement dated February 4, 2002 to facilitate the execution of a Commitment Transfer Supplement
by and between Lenders and Fleet Capital Corporation, (ii) certain Letter Agreement, dated as of March 21, 2002, among Borrowers, Agent and Lenders, (iii) certain Second Amendment to Revolving Credit, Term Loan and Security Agreement dated March 5,
2003, (iv) certain Third Amendment to Revolving Credit, Term Loan and Security Agreement dated August 1, 2003, (v) certain Fourth Amendment to Revolving Credit, Term Loan and Security Agreement dated September 12, 2003, (vi) certain Fifth Amendment
to Revolving Credit, Term Loan and Security Agreement dated October 27, 2003, (vii) certain Sixth Amendment to Revolving Credit, Term Loan and Security Agreement dated November 17, 2003, (viii) certain Seventh Amendment to Revolving Credit, Term
Loan and Security Agreement dated March 12, 2004, (ix) certain Eighth Amendment to Revolving Credit, Term Loan and Security Agreement dated April 27, 2004, (x) certain Ninth Amendment to Revolving Credit and Security Agreement dated September 27,
2004, (xi) certain Tenth Amendment to Fourth Amended and Restated Revolving Credit and Security Agreement dated February 15, 2005, (xii) certain Eleventh Amendment to Fourth Amended and Restated Revolving Credit and Security Agreement dated March
30, 2005, (xiii) certain Twelfth Amendment to Fourth 

 Amended and Restated Revolving Credit and Security Agreement dated April 8, 2005 and (xiv) certain Letter Agreement,
dated as of May 5, 2005, among Borrowers, Agent and Lenders. 
  
 C. The Borrowers have requested and the Agent has agreed to modify certain definitions, terms and conditions in the Loan Agreement. 
  
 D. The parties have agreed, subject to the terms and conditions of this Amendment, to modify and amend the Existing Financing Agreements. 
  
 NOW THEREFORE, with the foregoing background hereinafter deemed incorporated
by reference herein and made part hereof, the parties hereto, intending to be legally bound, promise and agree as follows: 
  
 (i) Upon the Effective Date (as defined below), Section 2.1(a) of the Loan Agreement shall be deleted in its entirety and replaced as follows:

  
 (a) Subject to the terms and conditions set forth in this
Agreement, including, without limitation, Section 2.1(b), each Lender, severally and not jointly, agrees to make Revolving Advances to Borrowers in accordance with the procedures provided for herein in an aggregate amount outstanding at any time not
greater than such Lender’s Commitment Percentage of the Borrowing Base (as defined below) minus the undrawn or unreimbursed amount of outstanding Letters of Credit unless Borrowers have deposited with Agent cash collateral in such
amounts and in accordance with Section 3.2. For purposes hereof, “Borrowing Base” shall mean the lesser of (x) the Maximum Revolving Advance Amount or (y) the sum of: 
  
 (i) up to 85%, subject to the provisions of Section 2.1(b) hereof (“Receivables Advance Rate”), of Eligible
Receivables, plus 
  
 (ii) the lesser of (x)
$1,000,000 or (y) up to 85%, subject to the provisions of 2.1(b) hereof (“Canadian Receivables Advance Rate”), of Eligible Canadian Receivables, plus 
  
 (iii) the lesser of (x) $37,000,000 or (y) up to 60%, subject to the provisions of Section 2.1(b) hereof
(“Inventory Advance Rate”), of Eligible Inventory of Borrowers (the Receivables Advance Rate, the Canadian Receivables Advance Rate and the Inventory Advance Rate shall be referred to, collectively, as the “Advance Rates”),
minus 
  
 (iv) such reserves as Agent may, in a
commercially reasonable manner, reasonably deem proper and necessary. 
  
 The amount derived from the sum of Sections 2.1(a)(y)(i), (ii) and (iii) minus 2.1(a)(y)(iv) at any time and from time to time shall be referred to as the “Formula Amount”. The Revolving Advances shall be evidenced by one
or more secured promissory 
  

 2 

 notes (collectively, the “Revolving Credit Note”) substantially in the form attached hereto as Exhibit
2.1(a). 
  
 2. Representations and Warranties. Each
Borrower hereby: 
  
 (a) reaffirms all representations and
warranties made to Agent and Lenders under the Loan Agreement and all of the other Existing Financing Agreements and confirms that all are true and correct as of the date hereof; 
  
 (b) reaffirms all of the covenants contained in the Loan Agreement, as amended hereby, and covenants to abide thereby until
all Advances, Obligations and other liabilities of Borrowers to Agent and Lenders, of whatever nature and whenever incurred, are satisfied and/or released by Agent and Lenders; 
  
 (c) represents and warrants that no Default or Event of Default has occurred and is continuing under any of the Existing
Financing Agreements; 
  
 (d) represents and warrants that it has
the authority and legal right to execute, deliver and carry out the terms of this Amendment, that such actions were duly authorized by all necessary corporate, partnership or limited liability company action, as applicable, and that the officers
executing this Amendment on its behalf were similarly authorized and empowered, and that this Amendment does not contravene any provisions of its organizational documents or of any contract or agreement to which it is a party or by which any of its
properties are bound; and 
  
 (e) represents and warrants that
this Amendment and all assignments, instruments, documents, and agreements executed and delivered in connection herewith, are valid, binding and enforceable in accordance with their respective terms. 
  
 3. Conditions Precedent/Effectiveness Conditions. This Amendment shall
be effective upon satisfaction of the following conditions precedent (the “Effective Date”) (all documents to be in form and substance satisfactory to Agent and Agent’s counsel): 
  
 (a) Agent shall have received a fully executed copy of this Amendment;

  
 (b) Agent shall have received all fees which are due and
payable to Agent or to the Lenders as required by the Loan Agreement, this Amendment or any fee letter entered into by Borrowers and Agent and/or Lenders; and 
  

(c) Agent shall have received all other documents, agreements or information as required by Agent in its sole discretion. 
  
 4. Further Assurances and Affirmative Covenants. Each Borrower hereby
agrees to take all such actions and to execute and/or deliver to Agent and Lenders all such documents, assignments, financing statements and other documents, as Agent and Lenders may reasonably require from time to time, to effectuate and implement
the purposes of this Amendment. 
  

 3 

 5. Payment of Expenses. Borrowers shall pay or reimburse Agent and Lenders for their reasonable
attorneys’ fees and expenses in connection with the preparation, negotiation and execution of this Amendment and the documents provided for herein or related hereto. 
  
 6. Reaffirmation of Loan Agreement. Except as modified by the terms hereof, all of the terms and conditions of the
Loan Agreement and all other of the Existing Financing Agreements are hereby reaffirmed and shall continue in full force and effect as therein written. 
  
 7. Miscellaneous. 
  
 (a) Third Party Rights. No rights are intended to be created hereunder for the benefit of any third party donee, creditor, or incidental
beneficiary. 
  
 (b) Headings. The headings of any
paragraph of this Amendment are for convenience only and shall not be used to interpret any provision hereof. 
  
 (c) Modifications. No modification hereof or any agreement referred to herein shall be binding or enforceable unless in writing and signed on
behalf of the party against whom enforcement is sought. 
  
 (d)
Governing Law. The terms and conditions of this Amendment shall be governed by the laws of the Commonwealth of Pennsylvania. 
  
 (e) Counterparts. This Amendment may be executed in any number of counterparts and by facsimile, each of which when so executed shall be deemed to
be an original and all of which taken together shall constitute one and the same agreement. 
  
 [SIGNATURES TO FOLLOW ON SEPARATE PAGES] 
  

 4 

 IN WITNESS WHEREOF, the parties have caused this Amendment to be executed and delivered by their duly
authorized officers as of the date first above written. 
  

			
	RADNOR CHEMICAL CORPORATION
	STYROCHEM DELAWARE, INC.
	RADNOR DELAWARE II, INC.
	STYROCHEM GP, LLC
	  By: Radnor Chemical Corporation,
	         its Sole Member
	STYROCHEM LP, LLC
	  By: Radnor Chemical Corporation,
	         its Sole Member
	STYROCHEM U.S., LTD.,
	  By: StyroChem GP, LLC, its General Partner
	  By: Radnor Chemical Corporation,
	          its Sole Member
		
	By:	 	 /s/ R. Radcliffe Hastings

	 	 	R. Radcliffe Hastings, Executive Vice President
	
	RADNOR HOLDINGS CORPORATION
	WINCUP HOLDINGS, INC.
	WINCUP GP, LLC
	  By: WinCup Holdings, Inc.,
	          its Sole Member
	WINCUP LP, LLC
	  By: WinCup Holdings, Inc.
	          its Sole Member
	WINCUP TEXAS, LTD.
	  By: WinCup GP, LLC
	          its General Partner
	  By: WinCup Holdings, Inc.
	              its Sole Member
		
	By:	 	 /s/ R. Radcliffe Hastings

	 	 	R. Radcliffe Hastings, Executive Vice President

  
 (Signature
Page to Thirteenth Amendment) 
  

 S-1 

			
	Agents:
	PNC BANK, NATIONAL ASSOCIATION,
	as Lead Arranger and Administrative Agent
		
	By:	 	 /s/ Janeann Fehrle

	 	 	Janeann Fehrle
	 	 	Vice President and Team Leader
	
	FLEET CAPITAL CORPORATION,
	as Documentation Agent
		
	By:	 	 /s/ Robert Anchundia

	Name:	 	Robert Anchundia
	Title:	 	Vice President
	
	Lenders:
	PNC BANK, NATIONAL ASSOCIATION,
	as Lender
		
	By:	 	 /s/ Janeann Fehrle

	 	 	Janeann Fehrle
	 	 	Vice President and Team Leader
	
	Commitment Percentage: 33.33333332%
	
	FLEET CAPITAL CORPORATION,
	as Lender
		
	By:	 	 /s/ Robert Anchundia

	Name:	 	Robert Anchundia
	Title:	 	Vice President
	
	Commitment Percentage: 27.7777777867%

  
 (Signature
Page to Thirteenth Amendment) 
  

 S-2 

			
	LASALLE BUSINESS CREDIT, LLC,
	as Lender
		
	By:	 	 /s/ Ellen T. Cook

	Name:	 	Ellen T. Cook
	Title:	 	First Vice President
	
	Commitment Percentage: 27.7777777867%
	
	FIFTH THIRD BANK,
	as Lender
		
	By:	 	 /s/ Donald K. Mitchell

	Name:	 	Donald K. Mitchell
	Title:	 	Vice President
	
	Commitment Percentage: 11.1111111067%

  
 (Signature
Page to Thirteenth Amendment) 
  

 S-3

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