Document:

<PAGE>   1
                                                                   Exhibit 10.26

                     FORM OF STOCKHOLDERS LOCK-UP AGREEMENT

         This Stockholders Lock-up Agreement among the undersigned stockholders
of Cellomics, Inc. (the "Company") and the Company is entered into as of the
13th day of December, 2000.

                                   Witnesseth:

         Whereas, the undersigned stockholders of Cellomics own Series A
Preferred Stock, Series B Preferred Stock and/or Series C Preferred Stock
(collectively, the "Preferred Stock") or Common Stock of the Company;

         Whereas, the Company has filed a registration statement with the
Securities and Exchange Commission for its initial public offering of shares
(the "IPO Shares") of its Common Stock (the "Common Stock") and the Company
desires to proceed with such offering if its shares of Common Stock are offered
at a price to the public of at least $8 per share (the "IPO");

         Whereas, under the terms of the current Amended and Restated
Certificate of Incorporation (the "Charter") of the Company, an IPO price of $8
per share of Common Stock will not result in the automatic conversion into
Common Stock of either the Series B Preferred Stock or the Series C Preferred
Stock; and

         Whereas, as a partial inducement to the stockholders of the Company to
approve an amendment to the Charter (the "Charter Amendment") which among other
matters will automatically convert all the classes of Preferred Stock into
Common Stock even though the IPO price is only $8 per share and change the
conversion ratio of the Series C Preferred Stock, the stockholders and the
Company are entering into this Lock-up Agreement.

         NOW THEREFORE, the parties hereto intending to be legally bound agree
as follows:

     1. LOCK-UP OF PRE-IPO COMMON STOCK. Each of the undersigned stockholders
agrees with respect to the number of Non-IPO Shares shown in the column labeled
"Locked-up Shares" on Exhibit A attached hereto (the "Locked-up Shares") that
should the IPO be effected, the undersigned will not on or before October 5,
2001 without the consent of the Company, directly or indirectly, offer, sell,
offer to sell, contract to sell, pledge, grant any option to purchase or
otherwise sell or dispose of the Locked-up Shares. The term "Non-IPO Shares"
means the shares of Common Stock (if any) held by a stockholder prior to the
closing of the IPO (and after giving effect to the 3.19 to 1 IPO Common Stock
split) and the shares of Common Stock (if any) which such stockholder would
receive upon the conversion in the IPO of Preferred Stock into Common Stock.
Exhibit A sets forth each stockholder's expected holdings of Non-IPO Shares
assuming the IPO closes. Anything to the contrary notwithstanding, the term
Locked-up Shares does not include and this Agreement shall not apply to any IPO
Shares.

     2. CONSENT TO TRANSFER OF LOCKED-UP SHARES. The Company agrees that it will
not grant any consent under section 1 of this Agreement other than (x) upon
receiving the written consent of all of the undersigned stockholder parties
hereto (in which event the Company will give its consent), (y) with

<PAGE>   2

respect to the subsequent transfer of Locked-up Shares which were held by any of
the undersigned stockholders who are natural persons and who die, or (z) with
respect to the subsequent transfer of Locked-up Shares by one of the undersigned
stockholders to an Affiliate of such undersigned stockholder provided that such
transferee agrees to be bound by the terms of this Agreement. The term
"Affiliate" means with respect to a stockholder, (i) in the case of a natural
person, such stockholder's spouse or lineal descendents or a trust, corporation
or pass-through entity controlled by such stockholder, and (ii) in the case of a
partnership or a corporation, such stockholder's partners, stockholders or other
equity owners or any entity controlled by or under common control with such
stockholder.

     3. TRANSFER RESTRICTIONS. Each stockholder agrees that the Company shall
place or cause to be placed upon any certificate representing the Locked-up
Shares a restrictive legend which states: "The shares represented by this
certificate are subject to a restriction against transfer until October 5, 2001.
A copy of this Agreement may be obtained from the Company at its principal
executive offices." The Company agrees to issue instructions to its transfer
agent not to transfer the Locked-up Shares in accordance with this Agreement.

     4. MISCELLANEOUS.

         (A) The provisions of this Agreement shall be binding upon and inure to
the benefit of any successor or assign of any party hereto.

         (B) The parties hereto agree that the remedy at law for any breach of
this Agreement is inadequate and that should any dispute arise concerning any
matter hereunder, this Agreement shall be enforceable in a court of equity by an
injunction or a decree of specific performance. Such remedies shall, however, be
cumulative and not exclusive, and shall be in addition to any other remedies
which the parties hereto may have.

         (C) If any one or more provisions of this Agreement shall be declared
invalid or unenforceable, the same shall not affect the validity or
enforceability of any other provisions of this Agreement.

         (D) Neither this Agreement nor any term hereof may be amended, waived,
discharged, or terminated, except by written instrument signed by the Company
and all of the undersigned stockholders.

         (E) This Agreement shall be construed in accordance with, and the
rights of the parties shall be governed by, the law of the State of Delaware.

         (F) This Agreement may be executed in counterparts, each of which when
so executed and delivered shall constitute a complete and original instrument
but all of which together shall constitute one and the same agreement, and it
shall not be necessary when making proof of this Agreement or any counterpart
thereof to account for any other counterpart.

         (G) All prior understandings and agreements between the parties hereto
with respect to the transactions contemplated hereby are merged in this
Agreement, and this Agreement reflects all the understandings with respect to
such transactions. The parties recognize that those certain lock-up letter
agreements executed by the undersigned stockholders with Prudential Securities
Incorporated in connection with the IPO are not superceded or otherwise effected
by this Agreement.

         (H) This Agreement shall expire and be of no force and effect if the
IPO has not occurred on or before January 15, 2001.

<PAGE>   3

                                   AXIOM VENTURE PARTNERS II
                                   LIMITED PARTNERSHIP

                                   By: Axiom Venture Associates II Limited
                                       Liability Company, its General Partner

                                   By:
                                      ------------------------------------------
                                      A General Partner
                                   Date:
                                        ----------------------------------------

                                   DELPHI BIOINVESTMENTS III, L.P.
                                   By: Delphi Management Partners III, L.L.C.,
                                       General Partner

                                   By:
                                      ------------------------------------------
                                      Managing Member
                                   Date:
                                        ----------------------------------------

                                   DELPHI VENTURES III, L.P.
                                   By: Delphi Management Partners III, L.L.C.,
                                       General Partner

                                   By:
                                      ------------------------------------------
                                       Managing Member
                                   Date:
                                        ----------------------------------------

                                   INTERWEST PARTNERS VI, L.P.
                                   By: InterWest Management Partners VI, LLC

                                   By:
                                      ------------------------------------------
                                      Name:
                                      Title:
                                   Date:
                                        ----------------------------------------

<PAGE>   4

                                   INTERWEST INVESTORS VI, LP
                                   By: InterWest Management Partners VI, LLC

                                   By:
                                      ------------------------------------------
                                      Name:
                                      Title:
                                   Date:
                                        ----------------------------------------

                                   OXFORD BIOSCIENCE PARTNERS II L.P.
                                   By: OBP Management II L.P.
                                       Its General Partner

                                   By:
                                      ------------------------------------------
                                      Alan G. Walton
                                      General Partner
                                   Date:
                                        ----------------------------------------

                                   OXFORD BIOSCIENCE PARTNERS (BERMUDA)
                                   II LIMITED PARTNERSHIP
                                   By: OBP Management II (Bermuda) Limited
                                       Partnership
                                       Its General Partner

                                   By:
                                      ------------------------------------------
                                      Alan G. Walton
                                      General Partner
                                   Date:
                                        ----------------------------------------

<PAGE>   5

                                   OXFORD BIOSCIENCE PARTNERS
                                   (GS - ADJUNCT) II L.P.
                                   By: OBP Management II L.P.
                                       Its General Partner

                                   By:
                                      ------------------------------------------
                                      Alan G. Walton
                                      General Partner
                                   Date:
                                        ----------------------------------------

                                   VECTOR LATER-STAGE EQUITY FUND II (QP), L.P.
                                   By: Vector Fund Management II, L.L.C.
                                       General Partner

                                   By:
                                      ------------------------------------------
                                      Managing Member
                                   Date:
                                        ----------------------------------------

                                   VECTOR LATER-STAGE EQUITY FUND II, L.P.
                                   By: Vector Fund Management II, L.L.C.
                                       General Partner

                                   By:
                                      ------------------------------------------
                                      Managing Member
                                   Date:
                                        ----------------------------------------

                                   AMERINDO INTERNET FUND PLC

                                   By:
                                      ------------------------------------------
                                   Name:
                                   Title:
                                   Date:
                                        ----------------------------------------

<PAGE>   6

                                   AMERINDO TECHNOLOGY GROWTH
                                     FUND II INC.

                                   By:
                                      -----------------------------------------
                                   Name:
                                   Title:
                                   Date:
                                        ---------------------------------------

                                   EMERGING TECHNOLOGY PORTFOLIO

                                   By:
                                      -----------------------------------------
                                   Name:
                                   Title:
                                   Date:
                                        ---------------------------------------

                                   LITTON MASTER TRUST

                                   By:
                                      -----------------------------------------
                                   Name:
                                   Title
                                   Date:
                                        ---------------------------------------

                                   INVESCO GLOBAL HEALTH SCIENCES FUND

                                   By:
                                      -----------------------------------------
                                   Name:
                                   Title
                                   Date:
                                        ---------------------------------------

<PAGE>   7

                                   ALTA CALIFORNIA PARTNERS II, L.P.

                                   By:
                                      -----------------------------------------

                                   Name:
                                   Title
                                   Date:
                                        ---------------------------------------

                                   BURRILL BIOTECHNOLOGY CAPITAL FUND LP

                                   By:
                                      -----------------------------------------
                                   Name:
                                   Title

BAYSTAR INTERNATIONAL              BAYSTAR CAPITAL, LP
LIMITED

By:                                By:
   ----------------------------      ------------------------------------------
Name:                              Name:
Title:                             Title:
Date:                              Date:
     --------------------------         ---------------------------------------

                                   ARIANE HEALTH LIMITED, LDC

                                   By:
                                      ------------------------------------------
                                   Name:
                                   Title
                                   Date:
                                        ----------------------------------------

<PAGE>   8

                                   CYRIL GESTION (BIOSPHERE)

                                   By:
                                      -----------------------------------------
                                   Name:
                                   Title
                                   Date:
                                        ---------------------------------------

                                   LCF ROTHSCHILD ASSET MANAGEMENT
                                   (FCPR CROISSANCE DISCOVERY)

                                   By:
                                      -----------------------------------------
                                   Name:
                                   Title
                                   Date:
                                        ---------------------------------------

                                   CELLOMICS, INC.

                                   By:
                                      -----------------------------------------
                                   Name:
                                   Title
                                   Date:
                                        ---------------------------------------

<PAGE>   9

                                   -------------------------------------------
                                   JOHN BOLES

                                   Date:
                                        --------------------------------------

                                   BOLES ENTERPRISE LIMITED PARTNERSHIP

                                   By:
                                      -----------------------------------------
                                   Name:
                                   Title:
                                   Date:
                                        ---------------------------------------

                                   --------------------------------------------
                                   R TERRY DUNLAY

                                   Date:
                                        ---------------------------------------

                                   --------------------------------------------
                                   LEROY L. METZ

                                   Date:
                                        ----------------------------------------

                                   ---------------------------------------------
                                   D. LANSING TAYLOR, PH.D.
                                   Date:
                                        ----------------------------------------

                                   ---------------------------------------------
                                   ALAN S. WAGGONER
                                   Date:
                                        ----------------------------------------

<PAGE>   10

                   EXHIBIT A TO STOCKHOLDERS LOCK-UP AGREEMENT

<TABLE>
<CAPTION>
                                                                    Expected          Locked-up            Percent
                                                                  Non-IPO Shares        Shares            Locked-up
                                                                  --------------        ------            ---------
<S>                                                               <C>                 <C>                 <C>
COMMON AND SERIES A & B STOCKHOLDERS:

    Common & Conversion of Series A & Series B Shares:

     John Boles
     D. Lansing Taylor
     Alan S. Waggoner
     Leroy L. Metz
     R. Terry Dunlay
     InterWest Partners VI LP
     InterWest Investors VI LP
     Axiom Venture Partners
     Delphi Ventures III LP
     Delphi Bio Investments III LP
     Oxford Biosciences Partners II LP
     Oxford Bioscinece Partners (Bermuda) LT
     Oxford Biosciences Partners GS Adjunct
     Vector Later Stage Equity Fund II (QP)
     Vector Later Stage Equity Fund II LP

     Conversion of Series C Shares:

     Vector Later Stage Equity Fund II (QP)
     Vector Later Stage Equity Fund II LP
     InterWest Partners VI LP
                                                         ---------------------  ----------------  ---------------
                                      Total

SERIES C  STOCKHOLDERS ONLY:

     Conversion of Series C Shares:

    Alta California Partners II, L.P.
    Amerindo Internet Fund PLC
    Amerindo Technology Growth Fund II Inc.
    Ariane Health Limited, LDC
    Baystar Capital, LP
    Baystar International Limited
    Burrill Biotechnology Capital Fund LP
    Cyril Gestion (Biosphere)
    Emerging Technology Portfolio
    Invesco Global Health Sciences Fund
    LCF Rothschild Asset Management
    Litton Master Trust
                                                         ---------------------  ----------------  ---------------
                                      Total
</TABLE>

                                      A-1<PAGE>   1
                                                                    EXHIBIT 10.1

                        STERLING CHEMICALS HOLDINGS, INC.

                         AMENDED AND RESTATED STOCK PLAN
                           FOR NON-EMPLOYEE DIRECTORS

                             Preliminary Statements

       1.     On April 23, 1997, the Board of Directors (the "Board") of
              Sterling Chemicals Holdings, Inc., a Delaware corporation (the
              "Company"), adopted the Sterling Chemicals Holdings, Inc. 1997
              Nonqualified Stock Option Plan for Non-Employee Directors (the
              "Original Plan").

       2.     The Board has, from time to time, heretofore amended the original
              Plan (as so amended, the "Existing Plan").

       3.     Pursuant to Section 7 of the Existing Plan, the Board desires to
              (i) amend the Existing Plan in certain respects, including adding
              an annual stock grant and increasing the number of stock options
              granted on an annual basis to the Eligible Directors (as defined
              below), and (ii) restate the Existing Plan, as so amended, in its
              entirety.

              NOW, THEREFORE, the Board hereby amends the Existing Plan,
effective as of April 26, 2000, to read in its entirety as follows:

                                    ARTICLE I

                                  Purpose; Etc.

              Section 1.01. Purpose. The purpose of this Plan is to attract and
retain the services of experienced and knowledgeable non-employee directors for
the Company and to provide such non-employee directors an opportunity for
ownership of Common Stock.

              Section 1.02. Effect of Amendment and Restatement. The Existing
Plan is hereby amended and completely restated as set forth herein and all
rights and benefits under this Plan shall hereafter be determined under the
terms and provisions hereof; provided, however, that the amendment and
restatement of the Existing Plan effected hereby shall not operate or be
construed to impair the rights of any current or former director of the Company
under any option granted prior to April 26, 2000 under the Existing Plan.

              Section 1.03. Certain Defined Terms. Capitalized terms used in
this Plan shall have the following respective meanings, except as otherwise
provided herein or as the context shall otherwise require:

              "1933 Act" means the Securities Act of 1933, as amended.

<PAGE>   2

              "1934 Act" means the Securities Exchange Act of 1934, as amended.

              "Board" has the meaning specified in the Preliminary Statements
       hereto.

              "Change of Control" means the occurrence after the date hereof of
       any of the following events: (i) the Company shall not be the surviving
       entity in any merger, consolidation or other reorganization (or survives
       only as a subsidiary of an entity other than a previously wholly-owned
       subsidiary of the Company), (ii) the Company sells, leases or exchanges
       all or substantially all of its assets to any other person or entity
       (other than a wholly-owned subsidiary of the Company), (iii) the Company
       is dissolved and liquidated, (iv) any person or entity, including a
       "group" as contemplated by Section 13(d)(3) of the 1934 Act, acquires or
       gains ownership or control (including, without limitation, power to vote)
       of more than 50% of the outstanding shares of the Company's voting stock
       (based upon voting power), or (v) as a result of or in connection with a
       contested election of directors, the persons who were directors of the
       Company before such election cease to constitute a majority of the Board.

              "Code" means the Internal Revenue Code of 1986, as amended.
       Reference in this Plan to any section of the Code shall be deemed to
       include any regulations under such section and any amendments or
       successor provisions to such section or regulations.

              "Common Stock" means the common stock, par value $0.01 per share,
       of the Company.

              "Company" has the meaning specified in the Preliminary Statements
       hereto.

              "Date of Grant" means, with respect to any Option or Stock Grant,
       the October 1 on which such Option or Stock Grant was granted pursuant to
       Section 4.02.

              "Eligible Director" has the meaning specified in Section 4.01.

              "Existing Plan" has the meaning specified in the Preliminary
       Statements hereto.

              "Fair Market Value" means, with respect to a share of Common Stock
       as of any specified date, (i) in the event that Common Stock is listed on
       a national stock exchange, the mean of the high and low sales prices of
       Common Stock reported on the stock exchange composite tape on that date
       or, if no prices are reported on that date, on the last preceding date on
       which such prices of Common Stock are so reported, or (ii) in the event
       that Common Stock is not traded on a national stock exchange, the fair
       market value of a share of Common Stock determined by the Board in such
       reasonable manner as it deems appropriate.

              "Fundamental Change" has the meaning specified in Section 4.03(f).

              "Grant" means the grant of an Option or Stock Grant under this
       Plan.

              "Immediate Family Member" has the meaning specified in Section
       4.03(d)(i).

                                      -2-
<PAGE>   3

              "Option" means an option granted to an Eligible Director pursuant
       to Section 4.02 of this Plan.

              "Option Agreement" means a written agreement between the Company
       and an Eligible Director with respect to an Option.

              "Original Plan" has the meaning specified in the Preliminary
       Statements hereto.

              "Plan" means this Amended and Restated Stock Plan for Non-Employee
       Directors, as amended from time to time.

              "Stock Grant" means a grant of Common Stock to an Eligible
       Director pursuant to Section 4.02 of this Plan.

              "Stockholders Agreement" has the meaning specified in Section
       4.05.

              "Subsidiary" means any corporation or entity of which more than
       50% of the outstanding securities or ownership interest having ordinary
       voting power to elect a majority of the members of the Board of
       Directors, or persons in similar capacity of such corporation or entity,
       is directly or indirectly owned by the Company.

                                   ARTICLE II

                                 Administration

              Section 2.01. Administration of this Plan. This Plan shall be
administered by the Board. Subject to the terms and conditions of this Plan, the
Board shall have the power to interpret the provisions and supervise the
administration of this Plan. All decisions made by the Board pursuant to the
provisions of this Plan shall be made at a duly held regular or special meeting
or by written consent in lieu of any such meeting. A majority of the directors
in office shall constitute a quorum and all decisions made by the Board pursuant
to the provisions of this Plan shall be made by a majority of the directors
present at any duly held regular or special meeting at which a quorum is present
(unless the concurrence of a greater proportion is required by law or by the
Certificate of Incorporation or Bylaws of the Company) or by the written consent
of a majority of the directors in lieu of any such meeting.

              Section 2.02. Expenses; Engagement of Professionals. All expenses
and liabilities incurred by the Board in the administration of this Plan shall
be borne by the Company. The Board may employ attorneys, consultants,
accountants or other persons to assist the Board in exercising its authority and
carrying out of its duties hereunder.

                                      -3-
<PAGE>   4

                                   ARTICLE III

                           Stock Subject To This Plan

              Subject to adjustment as provided in Section 4.03(f) and Section
4.03(g), the aggregate number of shares of Common Stock that may be optioned
under this Plan is 160,000 (including shares optioned under the Original Plan as
amended and in effect from time to time) and the aggregate number of shares of
Common Stock that may be issued in Stock Grants hereunder is 300,000. The shares
subject to this Plan shall consist of authorized but unissued shares of Common
Stock or previously issued shares of Common Stock reacquired and held by the
Company or any Subsidiary, and such number of shares shall be and is hereby
reserved for issuance for such purposes. Shares of Common Stock shall be deemed
to have been issued under this Plan only to the extent actually issued and
delivered pursuant to a Grant or the exercise of an Option. Any of such shares
which remain unissued and which are not subject to outstanding Options at the
termination of this Plan shall cease to be reserved for purposes of this Plan;
provided, however, that until the later to occur of the termination of this Plan
and the termination of the last of the Options granted under this Plan, the
Company shall at all times reserve a sufficient number of shares of Common Stock
to meet the requirements of this Plan. In the event that any Option expires or
is canceled prior to its exercise in full, the shares of Common Stock that were
subject to the portion of such Option which remains unexercised at such
expiration or cancellation may again be made subject to an Option under this
Plan.

                                   ARTICLE IV

                             Eligibility and Grants

              Section 4.01. Eligibility. Each director of the Company who is
serving on the Board on a Date of Grant and who is not otherwise an employee of
the Company or any Subsidiary (an "Eligible Director") shall participate in this
Plan; provided, however, that an Eligible Director may voluntarily elect to not
participate in this Plan or to terminate participation in this Plan at any time.

              Section 4.02. Annual Grants. Each Eligible Director who is serving
on the Board on October 1 of any year, commencing with October 1, 2000, shall be
granted (a) an Option to acquire 2,000 shares of Common Stock and (b) a number
of shares of Common Stock determined by dividing $15,000 by the average of the
closing sales prices of a share of Common Stock reported on the OTC Electronic
Bulletin Board maintained by the National Association of Securities Dealers,
Inc. during the 90-day period ending on such October 1. All Grants under this
Plan shall be automatic and non-discretionary.

              Section 4.03. Terms and Conditions of Options. Each Option under
this Plan will be a non-qualified option that is not intended to qualify as an
Incentive Stock Option pursuant to Section 422 of the Code. Each Option shall be
evidenced by an Option Agreement, in a form approved by the Board, which shall
be subject to the following express terms and conditions and such other terms
and conditions as the Board deems appropriate:

                                      -4-
<PAGE>   5

              (a) Option Period. Each Option Agreement shall provide that the
       Option evidenced thereby shall terminate and be of no force or effect
       with respect to any shares not previously purchased under such Option
       upon the first to occur of (i) the expiration of ten years from the Date
       of Grant of such Option or (ii) the expiration of 90 days after the
       termination of the Eligible Director's service as a director of the
       Company for any reason prior to a Change of Control; provided, however,
       that if an Eligible Director dies or becomes disabled within 90 days
       after termination of his or her service as a director of the Company
       prior to a Change of Control, all Options held by such Eligible Director
       shall terminate and be of no force or effect with respect to any shares
       not previously purchased under such Option at the expiration of ten years
       from the Date of Grant of such Option. If, following a Change of Control,
       an Eligible Director's service as a director of the Company is terminated
       for any reason, each Option previously granted to such Eligible Director
       (to the extent not previously exercised) may be exercised during the
       remainder of its full ten-year term.

              (b) Exercise Price. The exercise price for each share of Common
       Stock subject to an Option shall be the Fair Market Value of a share of
       Common Stock on the Date of Grant of such Option.

              (c) Procedure for Exercise. Each Option shall be exercised by the
       delivery by the Eligible Director holding such Option of written notice
       to the Secretary of the Company setting forth the number of shares of
       Common Stock with respect to which such Option is being exercised. The
       notice shall be accompanied by, at the election of such Eligible
       Director, either (i) cash, cashier's check, bank draft or postal or
       express money order payable to the order of the Company in an amount
       equal to the aggregate exercise price for the shares of Common Stock with
       respect to which such Option is being exercised, (ii) certificates
       representing shares of Common Stock owned by the Eligible Director duly
       endorsed for transfer to the Company and having an aggregate Fair Market
       Value equal to the aggregate exercise price for the shares of Common
       Stock with respect to which such Option is being exercised, (iii) an
       election by such Eligible Director to have the Company withhold delivery
       of shares of Common Stock with respect to which such Option is being
       exercised having an aggregate Fair Market Value equal to the aggregate
       exercise price for the shares of Common Stock with respect to which such
       Option is being exercised or (iv) any combination of the preceding having
       aggregate value equal to the full amount of the aggregate exercise price
       for the shares of Common Stock with respect to which such Option is being
       exercised. Notice may also be delivered by telecopy provided that the
       exercise price for the number of shares with respect to which such Option
       is being exercised is received by the Company via wire transfer on the
       same day the telecopy transmission is received by the Company. The notice
       shall specify the address to which the certificates for such shares are
       to be mailed. An Option shall be deemed to have been exercised
       immediately prior to the close of business on the date on which the
       Company receives (A) written notice of such exercise and (B) payment in
       full of the exercise price for the number of shares with respect to which
       such Options is being exercised, and the Eligible Director shall be
       treated for all purposes as the record holder of such shares of Common
       Stock as of such date.

                                      -5-
<PAGE>   6

                    As promptly as practicable after receipt of such written
       notice and payment, the Company shall deliver to the applicable Eligible
       Director certificates for the number of shares of Common Stock with
       respect to which such Option has been so exercised, issued in such
       Eligible Director's name or such other name as such Eligible Director
       directs; provided, however, that such delivery shall be deemed effected
       for all purposes when a stock transfer agent of the Company shall have
       deposited such certificates in the United States mail, addressed to the
       Eligible Director at the address specified pursuant to this Section
       4.03(c).

              (d) Restriction on Transfer. Except as provided below, each Option
       shall not be transferable otherwise than by will or the laws of descent
       and distribution and shall be exercisable during the Eligible Director's
       lifetime only by such Eligible Director or such Eligible Director's
       guardian or legal representative. However, the Board may, in its
       discretion, provide in any Option Agreement that the relevant Options may
       be transferred (in whole or in part and subject to such terms and
       conditions as the Board may impose thereon, including, without
       limitation, the approval by the Company of the form of transfer
       agreement) by such Eligible Director to (i) the spouse, children or
       grandchildren of such Eligible Director ("Immediate Family Members"),
       (ii) a trust or trusts for the exclusive benefit of Immediate Family
       Members and, if applicable, such Eligible Director, (iii) a partnership
       in which Immediate Family Members and, if applicable, such Eligible
       Director are the only partners or (iv) any other person or entity
       otherwise permitted by the Board. Following any transfer of an Option,
       such Option shall continue to be subject to this Plan, the relevant
       Option Agreement and all other terms and conditions that were applicable
       to such Option immediately prior to such transfer; provided, however,
       that no transferred Option may be exercised unless arrangements
       satisfactory to the Company have been made to satisfy any tax withholding
       obligations the Company may have with respect to such Option.

              (e) No Rights as Stockholder. No Eligible Director or any other
       person shall have any rights as a stockholder with respect to any shares
       of Common Stock covered by an Option until such Option is exercised by
       written notice and accompanied by payment as provided in Section 4.03(c).

              (f) Extraordinary Corporate Transactions. The existence of
       outstanding Options shall not affect in any way the right or power of the
       Company or its stockholders to make, authorize or consummate (i) any
       adjustment, recapitalization, reorganization, exchange or other change in
       the Company's capital structure or its business, (ii) any merger or
       consolidation of the Company, (iii) any issuance of Common Stock or other
       securities or subscription rights thereto, (iv) any issuance of bonds,
       debentures, preferred or prior preference stock ahead of or affecting the
       Common Stock or the rights thereof, (v) the dissolution or liquidation of
       the Company, (vi) any sale or transfer of all or any part of its assets
       or business or (vii) any other corporate act or proceeding, whether of a
       similar character or otherwise. No Eligible Director or other person
       shall have any claim against the Company or any Subsidiary as a result of
       any such act or proceeding. If the Company recapitalizes or otherwise
       changes its capital structure, or merges, consolidates, sells all of its
       assets or dissolves (each of the foregoing, a "Fundamental Change"), then
       thereafter upon any exercise of any Option theretofore granted to an
       Eligible Director, such Eligible Director shall be entitled to purchase
       under such Option, in lieu of the

                                      -6-
<PAGE>   7

       number of shares of Common Stock as to which Option shall then be
       exercisable, the number and class of shares of stock, securities or other
       property to which such Eligible Director would have been entitled
       pursuant to the terms of the Fundamental Change if, immediately prior to
       such Fundamental Change, such Eligible Director had been the holder of
       record of the number of shares of Common Stock as to which such Option is
       then exercisable.

              (g) Changes in Capital Structure. If the outstanding shares of
       Common Stock or other securities of the Company, or both, for which any
       Option is then exercisable shall at any time be changed or exchanged by
       declaration of a stock dividend, stock split, combination of shares or
       recapitalization, the number and kind of shares of Common Stock or other
       securities which are subject to this Plan or subject to any Options
       theretofore granted, and the exercise prices, shall be appropriately and
       equitably adjusted so as to maintain the proportionate number of shares
       or other securities without changing the aggregate exercise price.

              Section 4.04. Stock Grants. As promptly as practicable after each
Date of Grant, the Company shall deliver to each Eligible Director certificates
for the number of shares of Common Stock to which such Eligible Director is
entitled with respect to such Date of Grant pursuant to Section 4.02, issued in
such Eligible Director's name or such other name as such Eligible Director
directs; provided, however, that such delivery shall be deemed effected for all
purposes when a stock transfer agent of the Company shall have deposited such
certificates in the United States mail, addressed to such Eligible Director at
his or her address as reflected in the books and records of the Company.

              Section 4.05. Stockholders Agreement. All shares of Common Stock
purchased pursuant to the exercise of an Option or granted to an Eligible
Director pursuant to a Stock Grant shall be subject to the provisions of the
Sterling Chemicals Holdings, Inc. Stockholders Agreement dated effective as of
August 21, 1996 (as amended from time to time, the "Stockholders Agreement").
Prior to the exercise of any Option or the receipt of any shares of Common Stock
pursuant to a Stock Grant, the relevant Eligible Director (or, in the case of an
Option, any permitted transferee exercising such Option) shall, if such person
is not already a party to the Stockholders Agreement, execute and deliver to the
Company a written agreement, in form and substance acceptable to the Company,
providing that such Eligible Director or other person expressly agrees to be
bound by the terms of the Stockholders Agreement.

                                    ARTICLE V

                                  Miscellaneous

              Section 5.01. Amendments or Termination. The Board may, at any
time and from time to time, amend, alter or discontinue this Plan; provided,
however, that no amendment, alteration or termination of this Plan shall impair
the rights of any Eligible Director, without the Eligible Director's consent,
under any Option or Stock Grant made prior to such amendment, alteration or
termination.

                                      -7-
<PAGE>   8

              Section 5.02. Compliance With Other Laws and Regulations. This
Plan, each Grant, the exercise of Options and the obligation of the Company to
sell and deliver shares of Common Stock pursuant to Grants and the exercise of
Options, shall be subject to all applicable federal and state laws, rules and
regulations and to such approvals by any governmental or regulatory agency as
may be required. The Company shall not be required to issue or deliver any
certificates for shares of Common Stock granted under this Plan or pursuant to
the exercise of any Option at any time when the shares covered by such Grant or
exercise have not been registered under the 1933 Act and such other state and
federal laws, rules or regulations as the Company deems applicable and, in the
opinion of legal counsel for the Company, there is no exemption from the
registration requirements of such laws, rules or regulations available for the
issuance of such shares of Common Stock.

              Section 5.03. Purchase for Investment. Unless the Grants and the
shares of Common Stock covered by this Plan have been registered under the 1933
Act or the Company has determined that such registration is unnecessary, each
person receiving shares of Common Stock pursuant to this Plan may be required by
the Company to give a representation in writing that such person is acquiring
such shares for his or her own account for investment and not with a view to, or
for sale in connection with, the distribution of any part thereof. No fractional
shares of Common Stock shall be delivered, nor shall any cash in lieu of
fractional shares be paid.

              Section 5.04. Taxes. The Company may make such provisions as it
deems appropriate for the withholding of any taxes which it determines is
required in connection with any Grant or the exercise of any Option. Any
Eligible Director may pay all or any portion of the taxes required to be
withheld by the Company or paid by such Eligible Director in connection with
such Grant or the exercise of such Option by electing to have the Company
withhold shares of Common Stock, or by delivering previously owned shares of
Common Stock, having a Fair Market Value equal to the amount required to be
withheld or paid; provided, however, that such Eligible Director makes such
election on or before the date that the amount of tax to be withheld is
determined. All such elections will be irrevocable and subject to disapproval by
the Board.

              Section 5.05. Liability for Non-Issuance of Shares and Tax
Consequences. The Company and any Subsidiary which is in existence or hereafter
comes into existence shall not be liable to an Eligible Director or any other
person with respect or in connection with:

              (a) the non-issuance of any shares of Common Stock as to which the
       Company has been unable to obtain from any regulatory body having
       jurisdiction the authority deemed by the Company's counsel to be
       necessary for the lawful issuance of such shares; or

              (b) any tax consequences expected, but not realized, by any
       Eligible Director or other person due to any Grant or the exercise of any
       Option.

              Section 5.06. Indemnification. Each person who is or shall have
been a member of the Board and any employee delegated authority hereunder shall
be indemnified and held harmless by the Company against and from any loss, cost,
liability or expense that may be imposed upon or reasonably incurred by him or
her in connection with or resulting from any claim, action, suit or proceeding
to which he or she may be a party or in which he or she may be involved by
reason of

                                      -8-
<PAGE>   9

any action taken or failure to act under this Plan, and against and from any and
all amounts paid by him or her in settlement thereof (with the Company's
approval) or paid by him or her in satisfaction of any judgment in any such
claim, action, suit or proceeding; provided, however, that he or she gives the
Company prompt written notice of any such claim, action, suit or proceeding and
an opportunity, at its own expense, to handle, defend and settle the same before
he or she undertakes to handle, defend or settle such claim, action, suit or
proceeding on his or her own behalf. The foregoing right of indemnification
shall not be exclusive of any other rights or indemnification to which such
persons may be entitled under the Company's Certificate of Incorporation or
Bylaws, as a matter of law or otherwise, or any power that the Company may have
to indemnify them or hold them harmless.

              Section 5.07. Effectiveness and Expiration of Plan. This Plan
shall be effective as of April 23, 1997 and expire on April 23, 2007. No Grants
shall be made under this Plan after April 23, 2007.

              Section 5.08. Non-Exclusivity of this Plan. The adoption of this
Plan by the Board shall not be construed as creating any limitations on the
power of the Board to adopt such other incentive arrangements as it may deem
desirable, including, without limitation, the granting of restricted stock or
stock options other than under this Plan, and such arrangements may be either
generally applicable or applicable only in specific cases.

              Section 5.09. Governing Law. This Plan and any Option Agreements
hereunder shall be interpreted and construed in accordance with the laws of the
State of Delaware and applicable federal law.

              IN WITNESS WHEREOF, and as conclusive evidence of the adoption of
the foregoing by the Board, the Company has caused this document to be duly
executed in its name and on its behalf by its proper officer thereunto duly
authorized as of the date of the adoption of this Amended and Restated Stock
Plan for Non-Employee Directors by the Board, being April 26, 2000.

                                        STERLING CHEMICALS HOLDINGS, INC.

                                        By:
                                            ------------------------------------
                                            Frank P. Diassi
                                              Chairman of the Board of Directors

                                      -9-

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