Document:

Form of Common Stock Purchase Warrant

  
 Exhibit 4.3 

 
 NEITHER THIS SECURITY NOR THE SECURITIES INTO WHICH THIS SECURITY IS EXERCISABLE HAVE BEEN
REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY,
MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN
ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR REASONABLY ACCEPTABLE TO THE COMPANY TO SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY. THIS SECURITY
MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT WITH A REGISTERED BROKER-DEALER OR OTHER LOAN WITH A FINANCIAL INSTITUTION THAT IS AN “ACCREDITED INVESTOR” AS DEFINED IN RULE 501(a) UNDER THE SECURITIES ACT. 
  
 COMMON STOCK PURCHASE WARRANT 
  
 To Purchase
             Shares of Common Stock of 
  
 Verticalnet, Inc. 
  
 THIS COMMON STOCK PURCHASE WARRANT (the “Warrant”) CERTIFIES that, for value received,
                     (the “Holder”), is entitled, upon the terms and subject to the limitations on exercise and the
conditions hereinafter set forth, at any time or from time to time on or after the 185th day following the date of
issuance of this Warrant (such date, the “Initial Exercise Date”) and on or prior to 5:00 p.m., New York time on the fifth anniversary of the Initial Exercise Date (the “Termination Date”) but not thereafter, to
subscribe for and purchase from Verticalnet, Inc. a corporation incorporated in the Commonwealth of Pennsylvania (the “Company”), up to
                     shares (the “Warrant Shares”) of Common Stock, par value $0.01 per share, of the Company (the
“Common Stock”). The purchase price of one share of Common Stock (the “Exercise Price”) under this Warrant shall be $1.35, subject to adjustment hereunder. The Exercise Price and the number of Warrant Shares
for which the Warrant is exercisable shall be subject to adjustment as provided herein. Capitalized terms used and not otherwise defined herein shall have the meanings set forth in that certain Securities Purchase Agreement (the “Purchase
Agreement”), dated as of November 24, 2004, among the Company and the purchasers signatory thereto. 
  
 1. Title to Warrant. Prior to the Termination Date and subject to compliance with applicable laws and Section 7 of this Warrant, this
Warrant and all rights hereunder are transferable, in whole or in part, at the office or agency of the Company by the Holder in person or by duly authorized attorney, upon surrender of this Warrant together with the Assignment 

  

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Form annexed hereto properly endorsed. The transferee shall sign an investment letter in form and substance reasonably satisfactory to the Company.

  
 2. Authorization of Shares. The Company covenants that
all Warrant Shares which may be issued upon the exercise of the purchase rights represented by this Warrant will, upon exercise of the purchase rights represented by this Warrant, be duly authorized, validly issued, fully paid and nonassessable and
free from all taxes, liens and charges in respect of the issue thereof (other than taxes in respect of any transfer occurring contemporaneously with such issue and restrictions arising under applicable federal or state securities laws.) 

 
 3. Exercise of Warrant. 
  
 (a) Exercise of the purchase rights represented by this
Warrant may be made at any time or times on or after the Initial Exercise Date and on or before the Termination Date by surrender of this Warrant and delivery of a duly executed copy of the Notice of Exercise Form annexed hereto to the Company at
its principal office (or such other office or agency of the Company as it may designate by notice in writing to the registered Holder at the address of such Holder appearing on the books of the Company) along with payment of the aggregate Exercise
Price of the shares thereby purchased by wire transfer or cashier’s check drawn on a United States bank. Certificates for shares purchased hereunder shall be delivered to the Holder within seven (7) Trading Days from the delivery to the Company
of the Notice of Exercise Form, surrender of this Warrant and payment of the aggregate Exercise Price as set forth above (“Warrant Share Delivery Date”). This Warrant shall be deemed to have been exercised immediately prior to the
close of business on the date the Notice of Exercise Form, this Warrant and the aggregate Exercise Price is delivered to the Company. The Warrant Shares shall be deemed to have been issued, and Holder or any other person so designated to be named
therein shall be deemed to have become a holder of record of such shares for all purposes, as of the date the Warrant has been exercised by payment to the Company of the Exercise Price and all taxes required to be paid by the Holder, if any,
pursuant to Section 5 prior to the issuance of such shares, have been paid. If the Company fails to deliver to the Holder a certificate or certificates representing the Warrant Shares pursuant to this Section 3(a) by the seventh
Trading Day following the Warrant Share Delivery Date, then the Holder will have the right to rescind such exercise. In addition to any other rights available to the Holder, if the Company fails to deliver to the Holder a certificate or certificates
representing the Warrant Shares pursuant to an exercise by the seventh Trading Day after the Warrant Share Delivery Date, and if after such day the Holder is required by its broker to purchase in a bona fide open market transaction shares of Common
Stock to deliver in satisfaction of a sale by the Holder of the Warrant Shares which the Holder anticipated receiving upon such exercise (a “Buy-In”), then the Company shall (1) pay in cash to the Holder the amount by which (x) the
Holder’s total purchase price (including customary brokerage commissions, if any) for the shares of Common Stock so purchased exceeds (y) the amount obtained by multiplying (A) the number of Warrant Shares that the Company was required to
deliver to the Holder in connection with the exercise at issue, times (B) the price at which the sell order giving rise to such purchase obligation was executed, and (2) at the option of the Holder, either reinstate the portion of the Warrant and
equivalent number of Warrant Shares for which such exercise was not honored or deliver to the Holder the number of shares of Common Stock that would have been issued had the Company timely complied with its exercise and delivery obligations
hereunder. For example, if the Holder purchases in a Buy-In 

  

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shares of Common Stock having a total purchase price of $11,000 to cover the sale of shares of Common Stock with an aggregate sale price giving rise to such
purchase obligation of $10,000, under clause (1) of the immediately preceding sentence the Company shall be required to pay the Holder $1,000. The Holder shall provide the Company written notice indicating the amounts payable to the Holder in
respect of the Buy-In, together with applicable confirmations and other evidence reasonably requested by the Company. Nothing herein shall limit a Holder’s right to pursue any other remedies available to it hereunder, at law or in equity
including, without limitation, a decree of specific performance and/or injunctive relief with respect to the Company’s failure to timely deliver certificates representing shares of Common Stock upon exercise of the Warrant as required pursuant
to the terms hereof. 
  
 (b) If this Warrant
shall have been exercised in part, the Company shall, at the time of delivery of the certificate or certificates representing Warrant Shares, deliver to Holder a new Warrant evidencing the rights of Holder to purchase the unpurchased Warrant Shares
called for by this Warrant, which new Warrant shall in all other respects be identical with this Warrant. 
  
 (c) Intentionally Omitted. 
  
 (d) If at any time after one year from the date of issuance of this Warrant there is no effective Registration Statement registering the
resale of the Warrant Shares by the Holder, this Warrant may also be exercised at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the
quotient obtained by dividing [(A-B) (X)] by (A), where: 
  

			
	 (A)
	  	 =   the Closing Price on the Trading Day immediately preceding the date of such election;

		
	 (B)
	  	 =   the Exercise Price of this Warrant, as adjusted as of the date of such election; and

		
	 (X)
	  	 =   the number of Warrant Shares issuable upon exercise of this Warrant in accordance with the terms of this Warrant by
means of a cash exercise rather than a cashless exercise.

  
 (e)
Notwithstanding anything to the contrary set forth in subsection (d) above, the Holder may not utilize the “cashless exercise” method of payment of the Exercise Price if, on the date of exercise hereof, a Registration Statement for the
resale of the Warrant Shares has been filed and declared effective and maintained effective for at least 15 calendar days in the aggregate, but thereafter has ceased to be effective for a period of time which is not more than either (x) 25 Trading
Days in the aggregate during the year (defined as a period of 365 days commencing on the date a Registration Statement is first effective) in which such date of exercise occurs or (y) 15 consecutive Trading Days immediately prior to such date of
exercise.  
  
 4. No Fractional Shares or Scrip. No
fractional shares or scrip representing fractional shares shall be issued upon the exercise of this Warrant. As to any fraction of a share 

  

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which Holder would otherwise be entitled to purchase upon such exercise, the Company shall pay a cash adjustment in respect of such final fraction in an
amount equal to such fraction multiplied by the Exercise Price. 
  
 5. Charges, Taxes and Expenses. Issuance of certificates for Warrant Shares shall be made without charge to the Holder for any issue or transfer tax or other incidental expense in respect of the issuance of such certificate, all of
which taxes and expenses shall be paid by the Company, and such certificates shall be issued in the name of the Holder or in such name or names as may be directed by the Holder; provided, however, that in the event certificates for
Warrant Shares are to be issued in a name other than the name of the Holder, this Warrant when surrendered for exercise shall be accompanied by the Assignment Form attached hereto duly executed by the Holder; and the Company may require, as a
condition thereto, the payment of a sum sufficient to reimburse it for any transfer tax incidental thereto. 
  
 6. Closing of Books. The Company will not close its stockholder books or records in any manner which prevents the timely exercise of this Warrant,
pursuant to the terms hereof. 
  
 7. Transfer, Division and
Combination. 
  
 (a) Subject to compliance
with any applicable securities laws and the conditions set forth in Sections 1 and 7(e) hereof and to the provisions of Section 4.1 of the Purchase Agreement, this Warrant and all rights hereunder are transferable, in whole or in part, upon
surrender of this Warrant at the principal office of the Company, together with a written assignment of this Warrant substantially in the form attached hereto duly executed by the Holder or its agent or attorney and funds sufficient to pay any
transfer taxes payable upon the making of such transfer. Upon such surrender and, if required, such payment, the Company shall execute and deliver a new Warrant or Warrants in the name of the assignee or assignees and in the denomination or
denominations specified in such instrument of assignment, and shall issue to the assignor a new Warrant evidencing the portion of this Warrant not so assigned, and this Warrant shall promptly be cancelled. A Warrant, if properly assigned, may be
exercised by a new holder for the purchase of Warrant Shares without having a new Warrant issued. 
  
 (b) This Warrant may be divided or combined with other Warrants upon presentation hereof at the aforesaid office of the Company, together
with a written notice specifying the names and denominations in which new Warrants are to be issued, signed by the Holder or its agent or attorney. Subject to compliance with Section 7(a), as to any transfer which may be involved in such
division or combination, the Company shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or Warrants to be divided or combined in accordance with such notice. 
  
 (c) The Company shall prepare, issue and deliver at its own expense (other than transfer taxes) the new
Warrant or Warrants under this Section 7. 
  
 (d) The Company agrees to maintain, at its aforesaid office, books for the registration and the registration of transfer of the Warrants. 
  

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 (e) If, at the time of the surrender of this Warrant or the Warrant Shares in connection
with any transfer of this Warrant or the Warrant Shares, as applicable, the transfer of this Warrant shall not be registered pursuant to an effective registration statement under the Securities Act and under applicable state securities or blue sky
laws, the Company may require, as a condition of allowing such transfer (i) that the Holder or transferee of this Warrant or Warrant Shares, as the case may be, furnish to the Company an executed copy of the Assignment Form attached hereto and a
written opinion of counsel (which opinion shall be reasonably acceptable to the Company as to form, substance and scope) to the effect that such transfer may be made without registration under the Securities Act and under applicable state securities
or blue sky laws, (ii) that the Holder or transferee execute and deliver to the Company an investment letter in form and substance acceptable to the Company and (iii) that the transferee be an “accredited investor” as defined in Rule
501(a)(1), (a)(2), (a)(3), (a)(7), or (a)(8) promulgated under the Securities Act or a qualified institutional buyer as defined in Rule 144A(a) under the Securities Act. The Holder or a transferee of this Warrant must obtain the prior written
consent of the Company in order to transfer Warrants representing the right to purchase fewer than the lesser of (x) 1,000 Warrant Shares or (y) the number of Warrant Shares for which this Warrant is then exercisable. 
  
 8. No Rights as Shareholder until Exercise. This Warrant does not
entitle the Holder to any voting rights or other rights as a shareholder of the Company prior to the exercise hereof and the payment of the Exercise Price in accordance with the terms hereof (or exercise via cashless exercise). 
  
 9. Loss, Theft, Destruction or Mutilation of Warrant. The Company
covenants that upon receipt by the Company of evidence reasonably satisfactory to it of the loss, theft, destruction or mutilation of this Warrant or any stock certificate relating to the Warrant Shares, and in case of loss, theft or destruction, of
an indemnity agreement or security reasonably satisfactory to it in form and amount, or, if mutilated, upon surrender and cancellation of such Warrant or stock certificate, the Company will make and deliver a new Warrant or stock certificate of like
tenor and dated as of such cancellation, in lieu of such Warrant or stock certificate. 
  
 10. Saturdays, Sundays, Holidays, etc. If the last or appointed day for the taking of any action or the expiration of any right required or granted herein shall be a Saturday, Sunday or a legal holiday, then
such action may be taken or such right may be exercised on the next succeeding day not a Saturday, Sunday or legal holiday. 
  
 11. Adjustments of Exercise Price and Number of Warrant Shares; Stock Splits, etc. The number and kind of securities purchasable upon the exercise
of this Warrant and the Exercise Price shall be subject to adjustment from time to time upon the happening of any of the following. In case the Company shall (a) pay a dividend in shares of Common Stock or Common Stock Equivalents or make a
distribution in shares of Common Stock or Common Stock Equivalents to holders of its outstanding Common Stock, (b) subdivide its outstanding shares of Common Stock into a greater number of shares, (c) combine its outstanding shares of Common Stock
into a smaller number of shares of Common Stock, or (d) issue any shares of its capital stock in a reclassification of the Common Stock, then the number of Warrant Shares 

  

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purchasable upon exercise of this Warrant immediately prior thereto shall be adjusted so that the Holder shall be entitled to receive the kind and number of
Warrant Shares or other securities of the Company which it would have owned or have been entitled to receive had such Warrant been exercised in advance thereof. Upon each such adjustment of the kind and number of Warrant Shares or other securities
of the Company which are purchasable hereunder, the Holder shall thereafter be entitled to purchase the number of Warrant Shares or other securities resulting from such adjustment at an Exercise Price per Warrant Share or other security obtained by
multiplying the Exercise Price in effect immediately prior to such adjustment by the number of Warrant Shares purchasable pursuant hereto immediately prior to such adjustment and dividing by the number of Warrant Shares or other securities of the
Company that are purchasable pursuant hereto immediately thereafter. An adjustment made pursuant to this paragraph shall become effective immediately after the effective date of such event retroactive to the record date, if any, for such event.

  
 12. Reorganization, Reclassification, Merger, Consolidation
or Disposition of Assets. In case the Company shall reorganize its capital, reclassify its capital stock, consolidate or merge with or into another corporation (where the Company is not the surviving corporation or where there is a change in or
distribution with respect to the Common Stock of the Company), or sell, transfer or otherwise dispose of its property, assets or business to another corporation and, pursuant to the terms of such reorganization, reclassification, merger,
consolidation or disposition of assets, shares of common stock of the successor or acquiring corporation, or any cash, shares of stock or other securities or property of any nature whatsoever (including warrants or other subscription or purchase
rights) in addition to or in lieu of common stock of the successor or acquiring corporation (“Other Property”), are to be received by or distributed to the holders of Common Stock of the Company, then the Holder shall have the right
thereafter to receive, upon exercise of this Warrant, the number of shares of Common Stock of the successor or acquiring corporation or of the Company, if it is the surviving corporation, and Other Property receivable upon or as a result of such
reorganization, reclassification, merger, consolidation or disposition of assets by a Holder of the number of shares of Common Stock for which this Warrant is exercisable immediately prior to such event. In case of any such reorganization,
reclassification, merger, consolidation or disposition of assets, the successor or acquiring corporation (if other than the Company) shall expressly assume the due and punctual observance and performance of each and every covenant and condition of
this Warrant to be performed and observed by the Company and all the obligations and liabilities hereunder, subject to such modifications as may be deemed appropriate (as determined in good faith by resolution of the Board of Directors of the
Company) in order to provide for adjustments of Warrant Shares for which this Warrant is exercisable which shall be as nearly equivalent as practicable to the adjustments provided for in this Section 12. For purposes of this Section
12, “common stock of the successor or acquiring corporation” shall include stock of such corporation of any class which is not preferred as to dividends or assets over any other class of stock of such corporation and which is not
subject to redemption and shall also include any evidences of indebtedness, shares of stock or other securities which are convertible into or exchangeable for any such stock, either immediately or upon the arrival of a specified date or the
happening of a specified event and any warrants or other rights to subscribe for or purchase any such stock. The foregoing provisions of this Section 12 shall similarly apply to successive reorganizations, reclassifications, mergers,
consolidations or disposition of assets. 
  

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 13. Intentionally Omitted. 
  
 14. Notice of Adjustment. Whenever the number of Warrant Shares or number or kind of securities or other property
purchasable upon the exercise of this Warrant or the Exercise Price is adjusted, as herein provided, the Company shall give notice thereof to the Holder, which notice shall state the number of Warrant Shares (and other securities or property)
purchasable upon the exercise of this Warrant and the Exercise Price of such Warrant Shares (and other securities or property) after such adjustment, setting forth a brief statement of the facts requiring such adjustment and setting forth the
computation by which such adjustment was made. 
  
 15. Notice
of Corporate Action. If at any time: 
  
 (a)
the Company shall take a record of the holders of its Common Stock for the purpose of entitling them to receive a dividend or other distribution, or any right to subscribe for or purchase any evidences of its indebtedness, any shares of stock of any
class or any other securities or property, or to receive any other right, or 
  
 (b) there shall be any capital reorganization of the Company, any reclassification or recapitalization of the capital stock of the Company or any consolidation or merger of the Company with, or any sale, transfer or
other disposition of all or substantially all the property, assets or business of the Company to, another corporation or, 
  
 (c) there shall be a voluntary or involuntary dissolution, liquidation or winding up of the Company; 
  
 then, in any one or more of such cases, the Company shall give to Holder (i) at least 10
days’ prior written notice of the date on which a record date shall be selected for such dividend, distribution or right or for determining rights to vote in respect of any such reorganization, reclassification, merger, consolidation, sale,
transfer, disposition, liquidation or winding up, and (ii) in the case of any such reorganization, reclassification, merger, consolidation, sale, transfer, disposition, dissolution, liquidation or winding up, at least 10 days’ prior written
notice of the date when the same shall take place. Such notice in accordance with the foregoing clause also shall specify (i) the date on which any such record is to be taken for the purpose of such dividend, distribution or right, the date on which
the holders of Common Stock shall be entitled to any such dividend, distribution or right, and the amount and character thereof, and (ii) the date on which any such reorganization, reclassification, merger, consolidation, sale, transfer,
disposition, dissolution, liquidation or winding up is to take place and the time, if any such time is to be fixed, as of which the holders of Common Stock shall be entitled to exchange their shares of Common Stock for securities or other property
deliverable upon such disposition, dissolution, liquidation or winding up. Each such written notice shall be sufficiently given if addressed to Holder at the last address of Holder appearing on the books of the Company and delivered in accordance
with Section 17(d). 
  
 16. Authorized Shares. The
Company covenants that during the period the Warrant is outstanding, it will reserve from its authorized and unissued Common Stock a sufficient number of shares to provide for the issuance of the Warrant Shares upon the exercise of any purchase
rights under this Warrant. The Company further covenants that its issuance of 

  

 7 

 
this Warrant shall constitute full authority to its officers who are charged with the duty of executing stock certificates to execute and issue the necessary
certificates for the Warrant Shares upon the exercise of the purchase rights under this Warrant. The Company will take all such reasonable action as may be necessary to assure that such Warrant Shares may be issued as provided herein without
violation of any applicable law or regulation, or of any requirements of the Trading Market upon which the Common Stock may be listed. 
  
 Except and to the extent as waived or consented to by the Holder, the Company shall not by any action, including, without limitation, amending its
certificate of incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms
of this Warrant, but will at all times in good faith assist in the carrying out of all such terms and in the taking of all such actions as may be necessary or appropriate to protect the rights of Holder as set forth in this Warrant against
impairment. Without limiting the generality of the foregoing, the Company will (a) not increase the par value of any Warrant Shares above the amount payable therefor upon such exercise immediately prior to such increase in par value, (b) take all
such action as may be necessary or appropriate in order that the Company may validly and legally issue fully paid and nonassessable Warrant Shares upon the exercise of this Warrant, and (c) use commercially reasonable efforts to obtain all such
authorizations, exemptions or consents from any public regulatory body having jurisdiction thereof as may be necessary to enable the Company to perform its obligations under this Warrant. 
  
 Before taking any action which would result in an adjustment in the number of Warrant Shares for which this Warrant is
exercisable or in the Exercise Price, the Company shall obtain all such authorizations or exemptions thereof, or consents thereto, as may be necessary from any public regulatory body or bodies having jurisdiction thereof. 
  
 17. Miscellaneous. 
  
 (a) Jurisdiction. All questions concerning the
construction, validity, enforcement and interpretation of this Warrant shall be determined in accordance with the provisions of the Purchase Agreement. 
  
 (b) Restrictions. The Holder acknowledges that the Warrant Shares acquired upon the exercise of this Warrant, if not registered,
will have restrictions upon resale imposed by state and federal securities laws. 
  
 (c) Nonwaiver and Expenses. No course of dealing or any delay or failure to exercise any right hereunder on the part of Holder
shall operate as a waiver of such right or otherwise prejudice Holder’s rights, powers or remedies, notwithstanding all rights hereunder terminate on the Termination Date. If the Company willfully and knowingly fails to comply with any
provision of this Warrant, which results in any material damages to the Holder, the Company shall pay to Holder such amounts as shall be sufficient to cover any costs and expenses including, but not limited to, reasonable attorneys’ fees and
expenses, including those of appellate proceedings, incurred by Holder in collecting any amounts due pursuant hereto or in otherwise enforcing any of its rights, powers or remedies hereunder. 
  

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 (d) Notices. Any notice, request or other document required or permitted to be
given or delivered to the Holder by the Company shall be delivered in accordance with the notice provisions of the Purchase Agreement. 
  
 (e) Limitation of Liability. No provision hereof, in the absence of any affirmative action by Holder to exercise this Warrant or
purchase Warrant Shares, and no enumeration herein of the rights or privileges of Holder, shall give rise to any liability of Holder for the purchase price of any Common Stock or as a shareholder of the Company, whether such liability is asserted by
the Company or by creditors of the Company. 
  
 (f) Remedies. Holder, in addition to being entitled to exercise all rights granted by law, including recovery of damages, will be entitled to specific performance of its rights under this Warrant. The Company agrees that monetary
damages would not be adequate compensation for any loss incurred by reason of a breach by it of the provisions of this Warrant and hereby agrees to waive the defense in any action for specific performance that a remedy at law would be adequate.

  
 (g) Successors and Assigns. Subject to
applicable securities laws, this Warrant and the rights and obligations evidenced hereby shall inure to the benefit of and be binding upon the successors of the Company and the successors and permitted assigns of Holder. The provisions of this
Warrant are intended to be for the benefit of all Holders from time to time of this Warrant and shall be enforceable by any such Holder or holder of Warrant Shares. 
  
 (h) Amendment. This Warrant may be modified or amended or the provisions hereof waived with the
written consent of the Company and the Holder. 
  
 (i) Severability. Wherever possible, each provision of this Warrant shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Warrant shall be prohibited by or invalid under
applicable law, such provision shall be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provisions or the remaining provisions of this Warrant. 
  
 (j) Headings. The headings used in this Warrant are
for the convenience of reference only and shall not, for any purpose, be deemed a part of this Warrant. 
  
 ******************** 
  

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 IN WITNESS WHEREOF, the Company has caused this Warrant to be executed by its officer thereunto duly
authorized. 
  
 Dated: November 30, 2004 
  

			
	VERTICALNET, INC.
		
	By:	 	 /s/ Gene S. Godick

	 	 	 Name: Gene S. Godick

	 	 	 Title: Executive Vice President and Chief Financial Officer

  

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 NOTICE OF EXERCISE 
  

	To:	Verticalnet, Inc. 

  
 (1) The undersigned, (the holder of the attached Warrant) hereby elects to purchase
                     Warrant Shares of the Company pursuant to the terms of the attached Warrant, and tenders herewith payment of the exercise
price in full, together with all applicable transfer taxes, if any, in the aggregate amount of $          . 
  
 (2) Payment is in the form of (check applicable box): 
  
  ̈ in lawful money
of the United States; or 
  
  ̈ the cancellation of such number of Warrant Shares as is necessary, in accordance with the formula set forth in subsection 3(d), to exercise this Warrant with respect to the
maximum number of Warrant Shares purchasable pursuant to the cashless exercise procedure set forth in subsection 3(d). 
  
 (3) Please issue a certificate or certificates representing said Warrant Shares in the name of the undersigned or in such other name as is specified
below: 
  
 ____________________________________ 
  
 The Warrant Shares shall be delivered to the following: 
  
 ____________________________________ 
  
 ____________________________________ 
  
 ____________________________________ 
  
 (4) The undersigned hereby confirms the representations and warranties set
forth in Sections 3.2(b) through (e) of that certain Securities Purchase Agreement dated as of November       , 2004. 
  

			
	 [PURCHASER]

		
	 By:
	 	 
	 Name:
	 	 
	 Title:
	 	 
		
	 Dated:
	 	 

  

 ASSIGNMENT FORM 
  
 FOR VALUE RECEIVED,
                                        
(the “Assignor”) hereby sells, assigns and transfers all of the rights of the undersigned Assignor under the attached Warrant with respect to the number of shares of common stock of Verticalnet, Inc. (the “Company”)
covered thereby set forth below, to the following “Assignee” and, in connection with such transfer, represents and warrants to the Company that the transfer is otherwise in compliance with Section 7(e) of the Warrant: 
  

					
	 Name of Assignee

	 	 Address/Fax Number

	 	 No. of Shares

	 _______________________
	 	 _______________________
	 	 _______________________

	 _______________________
	 	 _______________________
	 	 _______________________

  

					
	 Dated:                                     
                       
	 	 	 	 Signature:

			
	  	 	 	 	  
	 	 	 	 	 Witness:

			
	  	 	 	 	  
	 	 	 	 	 

  
 ASSIGNEE
ACKNOWLEDGEMENT 
  
 The undersigned Assignee acknowledges that it has reviewed the
attached Warrant and by its signature below it hereby represents and warrants that it is an “accredited investor” as defined in Rule 501(a) of Regulation D promulgated under the Securities Act of 1933, as amended, and agrees to be bound by
the terms and conditions of the attached Warrant as of the date hereof. 
  

			
		
	 By:
	 	 
		
	 Its:
	 	 

			
		
	 Address:
	 	 
	 	 	 

  
 NOTE: The signature to this
Assignment Form must correspond with the name as it appears on the face of the Warrant, without alteration or enlargement or any change whatsoever, and must be guaranteed by a bank or trust company. Officers of corporations and those acting in a
fiduciary or other representative capacity should file proper evidence of authority to assign the foregoing Warrant. 
  

 Schedule A 
  
 WARRANTHOLDERS 
  

			
	 NAME

	  	NO. OF WARRANT SHARES

	 Bluegrass Growth Fund, LP
	  	45,454
	 Bluegrass Growth Fund, Ltd.
	  	45,454
	 Bridges & Pipes LLC
	  	90,909
	 Capital Ventures International
	  	181,818
	 City Platz Limited
	  	309,087
	 Excalibur Limited Partnership
	  	148,000
	 Iroquois Capital LP
	  	309,091
	 Omicron Master Trust
	  	272,727
	 TCMP3 Partners
	  	100,000
	 TRUK International Fund, LP
	  	11,200
	 TRUK Opportunity Fund, LP
	  	148,800
	 WPG Institutional Software Fund, L.P.
	  	307,054
	 WPG Select Technology Fund, L.P.
	  	8,000
	 WPG Select Technology QP Fund, L.P.
	  	100,800
	 WPG Select Technology Overseas, L.P.
	  	34,800
	 WPG Software Fund, L.P.
	  	94,800
	 William Corbett
	  	73,400
	 Terrence Cush
	  	5,000
	 Gary Shemano
	  	73,400Form of Executive Agreement

 EXHIBIT 10.1 
  
 FORM OF 
 EXECUTIVE AGREEMENT 
  
 Agreement between Arch
Chemicals, Inc., a Virginia corporation (“Arch Chemicals”), and                          (the
“Executive”), dated as of                              ,
            . 
  
 Arch Chemicals and the Executive agree as follows: 
  
 1. Definitions. 
  
 As used in this Agreement: 
  
 (a) “Cause”
means the willful and continued failure of the Executive to substantially perform his or her duties; the willful engaging by the Executive in gross misconduct significantly and demonstrably financially injurious to Arch Chemicals; or willful
misconduct by the Executive in the course of his or her employment which is a felony or fraud. No act or failure to act on the part of the Executive will be considered “willful” unless done or omitted not in good faith and without
reasonable belief that the action or omission was in the interests of Arch Chemicals or not opposed to the interests of Arch Chemicals. 
  
 (b) “Change in Control” means: 
  
 (i) Arch Chemicals ceases to be, directly or indirectly, owned of record by at least 1,000 shareholders; 
  
 (ii) A person, partnership, joint venture, corporation or other entity, or
two or more of any of the foregoing acting as a “person” within the meaning of Section 13(d)(3) of the Securities Exchange Act of 1934, as amended (the “Act”), other than Arch Chemicals, a majority-owned subsidiary of Arch
Chemicals or an employee benefit plan (or the plan’s related trust) of Arch Chemicals or such subsidiary, become(s) the “beneficial owner” (as defined in Rule 13d-3 under such Act) of 20% or more of the then outstanding voting stock
of Arch Chemicals; 
  
 (iii) During any period of two consecutive
years, individuals who at the beginning of such period constitute Arch Chemicals’ Board of Directors (together with any new Director whose election by Arch Chemicals’ Board of Directors or whose nomination for election by Arch
Chemicals’ shareholders was approved by a vote of at least two-thirds of the Directors then still in office who either were directors at the beginning of such period or whose election or nomination for election was previously so approved) cease
for any reason to constitute a majority of the directors then in office; 
  
 (iv) All or substantially all of the business of Arch Chemicals is disposed of pursuant to a merger, consolidation or other transaction in which Arch Chemicals 

 is not the surviving corporation or Arch Chemicals combines with another company and is the surviving corporation (unless
the shareholders of Arch Chemicals immediately following such merger, consolidation, combination, or other transaction beneficially own, directly or indirectly, more than 50% of the aggregate voting stock or other ownership interests of (x) the
entity or entities, if any, that succeed to the business of Arch Chemicals or (y) the combined company) or 
  
 (v) Approval by Arch Chemicals’ shareholders of (i) a sale of all or substantially all the assets of Arch Chemicals or (ii) a liquidation or
dissolution of Arch Chemicals. 
  
 (c) “Disability”
means that the Executive has suffered an incapacity due to physical or mental illness which meets the criteria for disability established at the time under Arch Chemicals’ short-term disability plan. 
  
 (d) “Executive Severance” means: 
  
 (i) twelve months of the Executive’s then current monthly salary
(without taking into account any reductions which may have occurred at or after the date of a Change in Control); plus 
  
 (ii) an amount equal to the greater of (A) the Executive’s average annual award actually paid under Arch Chemicals’ short-term annual cash
incentive compensation plans or programs (“ICP”) (including zero if nothing was paid or deferred but including any portion thereof the Executive has elected to defer) for the three completed fiscal years immediately preceding the date of
Termination (or if the Executive has not participated in ICP for such three completed fiscal years, the average of any such awards for the shorter period of years in which the Executive was a participant) and (B) the Executive’s then current
ICP standard annual award. 
  
 (e) “Potential Change in
Control” means: 
  
 (i) Arch Chemicals has entered into an
agreement the consummation of which would result in a Change in Control; 
  
 (ii) any person (including Arch Chemicals) publicly announces an intention to take or to consider taking actions which if consummated would constitute a Change in Control; 
  
 (iii) Arch Chemicals learns that any person (other than an employee benefit
plan of Arch Chemicals or a subsidiary of Arch Chemicals (or the plan’s related trust)) has become the beneficial owner directly or indirectly of securities of Arch Chemicals representing 9.5% or more of the combined voting power of Arch
Chemicals’ then outstanding securities ordinarily entitled to vote in elections of directors; or 
  
 (iv) the Board of Directors of Arch Chemicals adopts a resolution to the effect that, for purposes of this Agreement, a Potential Change in Control of
Arch Chemicals has occurred; 
  

 2 

 provided, if an event specified in clause (iii) above has occurred by or on the date hereof, such event shall not be
deemed a Potential Change in Control unless such person acquires another 1% of such securities subsequent to the date hereof. 
  
 (f) “Termination” means: 
  
 (i) The Executive is discharged by Arch Chemicals other than for Cause; 
  
 (ii) The Executive terminates his or her employment in the event that: 
  
 (1) Arch Chemicals requires the Executive to relocate the Executive’s
then office to an area which is not within reasonable commuting distance, on a daily basis, from the Executive’s then residence, except that prior to a Change in Control a requirement to relocate the Executive’s office to Arch
Chemicals’ corporate headquarters is not a basis for Termination; 
  
 (2) Arch Chemicals reduces the Executive’s base salary or fails to increase the Executive’s base salary on a basis consistent (as to frequency and amount) with Arch Chemicals’ exempt salary system as then in effect or, in the
event of a Change in Control, as in effect immediately prior to the Change in Control; 
  
 (3) Arch Chemicals fails to continue the Executive’s participation in its benefit plans (including incentive compensation and stock options) on substantially the same basis, both in terms of the amount of the
benefits provided (other than due to Arch Chemicals’ or a relevant operation’s financial or stock price performance provided such performance is a relevant criterion under such plan) and the level of the Executive’s participation
relative to other participants as exists on the date hereof; provided that, with respect to annual and long term incentive compensation plans, the basis with which the amount of benefits and level of participation of the Executive shall be compared
shall be the average benefit awarded to the Executive under the relevant plan during the three completed fiscal years immediately preceding the date of Termination; 
  
 (4) The Executive suffers a Disability which prevents the Executive from performing the Executive’s duties with Arch
Chemicals for a period of at least 180 consecutive days; 
  
 (5)
Following a Change in Control, Arch Chemicals fails to substantially maintain its benefit plans as in effect at the time of the Change in Control, unless reasonably equivalent arrangements (embodied in an on-going substitute or alternative plan)
have been made with respect to such plans; or 
  
 (6) Following a
Change in Control, the Executive’s duties, position or reporting responsibilities are diminished. 
  

 3 

 For purposes solely of clarification, it is understood that (i) if, in connection with the spinoff of an
Arch Chemicals business or Arch Chemicals’ assets as a separate public company to Arch Chemicals’ shareholders, the Executive accepts employment with, and becomes employed at, the spunoff company or its affiliates, the termination of the
Executive’s employment with Arch Chemicals shall not be considered a “Termination” for purposes of this Agreement, provided that a Change in Control shall not have occurred prior to the termination of the Executive’s employment
with Arch Chemicals and (ii) except as provided in paragraph 4(f), in connection with the sale of an Arch Chemicals business to a third party or the transfer or sale of an Arch Chemicals business or Arch Chemicals’ assets to a joint venture to
be owned directly or indirectly by Arch Chemicals with one or more third parties, if the Executive accepts employment with, and becomes employed by, such buyer or its affiliates or such joint venture or its affiliates in connection with such
transaction, such cessation of employment with Arch Chemicals shall not be considered a “Termination” for purposes of this Agreement. 
  
 2. Previous Change in Control Agreement; Effectiveness of this Agreement. This Agreement shall become effective immediately upon the expiration of the
current Executive Agreement dated                     ,             
between Arch Chemicals and the Executive. Once this Agreement becomes effective, (i) this Agreement supersedes and replaces such earlier Executive Agreement and (ii) the Executive hereby releases and forever discharges Arch Chemicals and its
affiliates from any and all obligations or claims the Executive may have with respect to such prior Executive Agreement and waives any obligations or rights Executive may have accrued under such prior Executive Agreement, including obligations which
may arise under any circumstances, occurring prior to the date this Agreement became effective.1 
  
 3. Term/Executive’s Duties. 
  
 (a) The term of this Agreement shall expire at the end of December 31, 2007
(subject to extension and renewal as provided herein). If during the term of this Agreement (including any term resulting from any extension or renewal whatsoever) a Potential Change in Control or Change in Control occurs, the then applicable term
shall be extended to the later of (i) the end of the calendar year of the third anniversary of the date on which any Potential Change in Control occurs and (ii) the end of the calendar year of the third anniversary of the date on which any Change in
Control occurs. At the end of each term of this Agreement (including any term resulting from any extension or renewal whatsoever) the then applicable term shall be automatically renewed for a successive one year term unless and until the Board of
Directors of Arch Chemicals (or the Compensation Committee thereof) adopts a resolution prior to the end of the then applicable term that states this Agreement shall not be renewed for such one year period, in which case this Agreement shall expire
at the end of the then applicable term provided no subsequent Potential Change in Control or Change in Control occurs. No expiration of this Agreement will affect any of the Executive’s rights resulting from a Termination prior to such
expiration. In the event of the Executive’s death while employed by Arch Chemicals, this Agreement shall terminate 

	1	If Executive had a previous Tier II Agreement, revise this paragraph accordingly. If Executive did not have a previous Tier I or Tier II Agreement, delete this
paragraph and replace with “This paragraph intentionally left blank.” 

  

 4 

 and be of no further force or effect on the date of his or her death; provided that the Executive’s death will not
affect any of the Executive’s rights resulting from a Termination prior to death. 
  
 (b) During the period of the Executive’s employment by Arch Chemicals, the Executive shall devote his or her full time efforts during normal business hours to Arch Chemicals’ business and affairs, except
during reasonable vacation periods and periods of illness or incapacity. Nothing in this Agreement will preclude the Executive from devoting reasonable periods required for service as a director or a member of any organization involving no conflict
of interest with Arch Chemicals’ interest; provided that no additional position as director or member shall be accepted by the Executive during the period of his or her employment with Arch Chemicals without its prior consent. 
  
 (c) The Executive agrees that in the event of any Potential Change in Control
of Arch Chemicals occurring from time to time after the date hereof, the Executive will remain in the employ of Arch Chemicals until the earlier of (i) the end of the six month period following the occurrence of such Potential Change in Control and
(ii) a Change in Control. 
  
 4. Executive Severance Payment.

  
 (a) In the event of a Termination occurring before the
expiration of this Agreement, Arch Chemicals will pay the Executive a lump sum in an amount equal to the Executive Severance. The payment will be made within 30 days of the Termination or if a Change in Control has occurred, within 10 days of the
Termination. 
  
 (b) In the event of a Termination after a Change
in Control has occurred, in addition to the Executive Severance paid under paragraph 4(a) above, Arch Chemicals will pay a Change in Control severance premium to the Executive in an amount equal to the sum of: (i) two times the Executive Severance
plus (ii) three times the higher of (x) Executive’s annual long term incentive target as last determined by the Arch Chemicals’ Board of Directors (or committee thereof) prior to the Change in Control and (y) the Executive’s annual
long term incentive target as in effect immediately prior to the Termination. The Change in Control severance premium, if it becomes due, will be made within 10 days of the Termination. 
  
 (c) The amount due under paragraph 4(a) and 4(b), if any, will be reduced to the extent that, if such amount in the
aggregate were paid in equal monthly installments over a 12-month period (or in the event both paragraph 4(a) and 4(b) are applicable, a 36-month period), no installment would be paid after the Executive’s sixty-fifth birthday. 
  
 (d) The Executive will not be required to mitigate the amount of any payment
provided for in paragraph 4(a) or 4(b) by seeking other employment or otherwise, nor shall any compensation received by the Executive from a third party reduce such payment except as explicitly provided in this Agreement. Except as may otherwise be
expressly provided herein, nothing in this Agreement will be deemed to reduce or limit the rights which the Executive may have under any employee benefit plan, policy or arrangement of Arch Chemicals. Except as expressly provided in this Agreement,
payments made under paragraphs 4 or 5(e) shall not be affected by any set-off, counterclaim, recoupment, defense or other claim which Arch Chemicals may have against the Executive. 
  

 5 

 (e) If the Executive receives the Executive Severance, the Executive will not be entitled to receive any
other severance otherwise payable to the Executive under any other severance plan of Arch Chemicals. If on the Termination date the Executive is eligible and is receiving payments under any then existing Arch Chemicals disability plan, then the
Executive agrees that all such payments may, and will be, suspended and offset for 12 months (or in the event paragraph 4(b) is also applicable, 36 months) (subject to applicable law) following the Termination date. If after such period the
Executive remains eligible to receive disability payments, then such payments shall resume in the amounts and in accordance with the provisions of the applicable Arch Chemicals disability plan. 
  
 (f) In the event the Executive, in connection with the sale of an Arch
Chemicals business to a third party or the transfer of an Arch Chemicals business or Arch Chemicals assets to a joint venture which would be owned directly or indirectly by Arch Chemicals with one or more third parties, ceases to be employed by Arch
Chemicals and with Arch Chemicals’ consent becomes employed by the buyer or its affiliates or the joint venture or its affiliates, the Executive shall be entitled to the benefits provided under paragraph 4(a) (using Arch Chemicals figures at
the time of new employment) (subject to paragraphs 4(c), 4(d) and 4(e)) and the first sentence of paragraph 5(a) (subject to paragraph 5(c)), and paragraph 5(d), if the Executive has a Termination as defined in paragraph 1(f) with his or her new
employer (with the new employer being substituted for Arch Chemicals in such paragraph 1(f) and without giving any effect to the Change in Control references contained therein following such new employment) within 12 months of becoming employed by
such new employer. Any cash compensation amounts paid under this paragraph 4(f) shall be reduced by any severance, job transition or employment termination payments such Executive receives in cash from his or her new employer in connection with the
Termination. In connection with this paragraph 5(f), in no event shall the Change in Control provisions of this Agreement be applicable once Executive ceases to be employed by Arch Chemicals. 
  
 (g) If the Termination occurs prior to a Change in Control, no Executive
Severance and, except for payments and benefits that the Employee is legally entitled to by employment or labor law in the absence of this Agreement, no other benefits and payments pursuant to paragraph 5 below, will be paid or credited to the
Executive unless and until the Executive shall have executed and delivered to Arch Chemicals a release substantially in the form of Exhibit A hereto and the seven day period referred to in Exhibit A shall have elapsed without revocation. Whether the
release is “substantially” in such form shall be determined by Arch Chemicals in its sole discretion. If the Termination occurs at or following a Change in Control, no such release shall be required. 
  
 5. Other Benefits. 
  
 (a) If the Executive becomes entitled to payment under paragraph 4(a), the
Executive will receive 12 months service credit under all Arch Chemicals Pension Plans for which the Executive was eligible at the time of the Termination (i.e., under Arch Chemicals’ qualified Pension Plans to the extent permitted under then
applicable law, otherwise such credit will be reflected in a supplementary pension payment from Arch Chemicals to be due 
  

 6 

 at the times and in the manner payments are due the Executive under such qualified pension plans), and for 12 months from
the date of the Termination the Executive (including covered dependents) will continue to enjoy coverage on the same basis as a similarly situated active employee under all Arch Chemicals medical, dental, and life insurance plans to the extent the
Executive was enjoying such coverage immediately prior to the Termination. The Executive’s entitlement to insurance coverage under the Consolidated Omnibus Budget Reconciliation Act would commence at the end of the period during which insurance
coverage is provided under this Agreement without offset for coverage provided hereunder. The Executive shall accrue no vacation during the 12 months following the date of Termination but shall be entitled to payment for accrued and unused vacation
for the calendar year in which the Termination occurs. If no Change in Control has occurred at or prior to Termination, the Executive shall not be entitled to an ICP award for the calendar year in which Termination occurs. Even if a Change in
Control occurs at or prior to Termination, the Executive shall not be entitled to an ICP award for the calendar year of Termination if Termination occurs during the first calendar quarter of such year. However, if a Change in Control occurs and at
the same time or thereafter if Termination occurs during or after the second calendar quarter of a year (and even if the Executive receives the Executive Severance (including the amount referred to in paragraph 1(d)(ii)), the Executive shall be
entitled to a prorated ICP award for such calendar year of Termination which shall be determined by multiplying the higher of (i) his or her then current ICP standard and (ii) his or her ICP standard in effect prior to the Change in Control, by a
fraction the numerator of which is the number of weeks in such calendar year prior to the Termination and the denominator of which is 52. The Executive shall accrue no ICP award following the date of Termination. The accrued vacation pay and ICP
award, if any, shall be paid in a lump sum when the Executive Severance is paid. 
  
 (b) If the Executive becomes entitled to payment under paragraph 4(b), the pension credit and insurance coverage provided for in paragraph 5(a) will be for an additional 24-month period beyond the period provided in
paragraph 5(a). 
  
 (c) Notwithstanding the foregoing paragraphs
5(a) and 5(b), no such service credit or insurance coverage will be afforded by this Agreement with respect to any period after the Executive’s sixty-fifth birthday. 
  
 (d) In the event of a Termination, the Executive will be entitled at Arch Chemicals’ expense to outplacement counseling
and associated services in accordance with Arch Chemicals’ customary practice at the time (or, if a Change in Control shall have occurred, in accordance with such practice immediately prior thereto) with respect to its senior executives who
have been terminated other than for Cause. It is understood that the counseling and services contemplated by this paragraph 5(d) are intended to facilitate the obtaining by the Executive of other employment following a Termination, and payments or
benefits by Arch Chemicals in lieu thereof will not be available to the Executive. 
  
 (e) Notwithstanding the provisions of Section 4.6 of the Arch Senior Executive Pension Plan (the “Senior Plan”), if the Executive is in active employment with Arch Chemicals at the date of a Change in
Control but has not attained age 55 at such date, the Executive shall (if then a Participant in the Senior Plan) nevertheless automatically be paid the lump-sum amount called for by such Section 4.6, except that such lump-sum amount 
  

 7 

 will be calculated first, by calculating the sum equal to the annual benefit which would otherwise be payable to the
Executive at age 65 under all Arch Chemicals pension plans assuming the Executive had terminated his or her employment with Arch Chemicals on the date of the Change in Control, second, by multiplying such sum by 72%, which is the current percentage
applicable in the calculation of benefits paid to employees retiring from active service with Arch Chemicals at age 55 under the early retirement provisions of the Arch Chemicals Employees Pension Plan, third, by determining the then lump-sum
actuarial value of the product resulting from the second step, and fourth, by deducting from such lump-sum actuarial value the then lump-sum actuarial value of the Executive’s accrued annual benefits under all other Arch Chemicals pension
plans. The actuarial value shall be determined as the amount needed to purchase a fixed annuity through Metropolitan Life Insurance Company (“Metropolitan”) or its successor immediately prior to the Change in Control. In the event such
annuity is not available through Metropolitan, then Prudential Insurance Company or an insurance company with comparable rating by A.M. Best & Company shall be substituted for Metropolitan. The lump-sum payment made under the Senior Plan as
calculated under this paragraph 5(e) will be used to reduce any other payments under the Senior Plan which may become due to the Executive thereafter. The purpose of this paragraph 5(e) is to ensure that an Executive who is less than age 55 at the
time of the Change in Control receives a lump-sum payment which when combined with the value of the Executive’s pension benefits from all other Arch Chemicals pension plans preserves the 72% age 55, subsidized early retirement factor, rather
than the actuarial reduction. Such lump-sum payment shall be discounted by the same interest rate used by the insurance company to determine the actuarial value to provide for the deferral of the benefit until the Executive reaches age 55.

  
 (f) If the Executive becomes entitled to the payment under
paragraph 4(b), at the end of the period for insurance coverage provided in accordance with paragraph 5(b), the Executive shall be entitled to continue in Arch Chemicals’ medical and dental coverage (including dependent coverage) on terms and
conditions no less favorable to the Executive as in effect prior to the Change in Control for the Executive until the Executive reaches age 65; provided that if the Executive obtains other employment which offers medical or dental coverage to the
Executive and his or her dependents, the Executive shall enroll in such medical or dental coverage, as the case may be, and the corresponding coverage provided to the Executive hereunder shall be secondary coverage to the coverage provided by the
Executive’s new employer so long as such employer provides the Executive with such coverage. 
  
 (g) If there is a Change in Control, Arch Chemicals shall not reduce or diminish the insurance coverage or benefits which are provided to the Executive
under paragraph 5(a), 5(b) or 5(f) during the period the Executive is entitled to such coverage; provided the Executive makes the premium payments required by active employees generally for such coverage, if any, under the terms and conditions of
coverage applicable to the Executive. Following a Change in Control, incentive compensation plans in which the Executive participates shall contain reasonable financial performance measures and shall be consistent with practice prior to the Change
in Control. 
  

 8 

 6. Participation in Change in Control/Section 4999 of Internal Revenue Code. 
  
 (a) In the event that the Executive participates or agrees to participate by
loan or equity investment (other than through ownership of less than 1% of publicly traded securities of another company) in a transaction (“acquisition”) which would result in an event described in paragraph 1(b)(i) or (ii), the Executive
must promptly disclose such participation or agreement to Arch Chemicals. If the Executive so participates or agrees to participate, no payments due under this Agreement or by virtue of any Change in Control provisions contained in any compensation
or benefit plan of Arch Chemicals will be paid to the Executive until the acquiring group in which the Executive participates or agrees to participate has completed the acquisition. In the event the Executive so participates or agrees to participate
and fails to disclose his or her participation or agreement, the Executive will not be entitled to any payments under this Agreement or by virtue of Change in Control provisions in any Arch Chemicals compensation or benefit plan, notwithstanding any
of the terms hereof or thereof. 
  
 (b) Anything in this Agreement
to the contrary notwithstanding, in the event that it shall be determined that any payment or distribution by Arch Chemicals to or for the benefit of the Executive (whether paid or payable or distributed or distributable) pursuant to the terms of
this Agreement or otherwise (collectively, the “Payments”) but determined without regard to any additional payments required under this paragraph 6(b), would be subject to the excise tax imposed by Section 4999 of the Internal Revenue Code
of 1986, as amended, the Executive shall be entitled to receive an additional payment (the “Gross-Up Payment”) in an amount equal to (i) the amount of the excise tax imposed on the Executive in respect of the Payments (the “Excise
Tax”) plus (ii) all federal, state and local income, employment and excise taxes (including any interest or penalties imposed with respect to such taxes) imposed on the Executive in respect of the Gross-Up Payment, such that after payments of
all such taxes (including any applicable interest or penalties) on the Gross-Up Payment, the Executive retains a portion of the Gross-Up Payment equal to the Excise Tax. 
  
 7. Successors; Binding Agreement. 
  

(a) Arch Chemicals will require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all
of the business or assets of Arch Chemicals, by agreement, in form and substance satisfactory to the Executive, expressly to assume and agree to perform this Agreement in the same manner and to the same extent that Arch Chemicals would be required
to perform if no such succession had taken place. Failure of Arch Chemicals to obtain such assumption and agreement prior to the effectiveness of any such succession will be a breach of this Agreement and entitle the Executive to compensation from
Arch Chemicals in the same amount and on the same terms as the Executive would be entitled to hereunder had a Termination occurred on the succession date. As used in this Agreement, “Arch Chemicals” means Arch Chemicals as defined in the
preamble to this Agreement and any successor to its business or assets which executes and delivers the agreement provided for in this paragraph 7 or which otherwise becomes bound by all the terms and provisions of this Agreement by operation of law
or otherwise. 
  

 9 

 (b) This Agreement shall be enforceable by the Executive’s personal or legal representatives,
executors, administrators, successors, heirs, distributees, devisees and legatees. 
  
 8. Notices. For the purpose of this Agreement, notices and all other communications provided for herein shall be in writing and shall be deemed to have been duly given when delivered or mailed by United States
registered or certified mail, return receipt requested, postage prepaid, addressed as follows: 
  

			
	 If to the Executive:
  
	 	 
	 If to the Company:
	 	 Arch Chemicals, Inc.

	 	 	 501 Merritt 7

	 	 	 P.O. Box 5204

	 	 	 Norwalk, CT 06856-5204

	 	 	 Attention: Corporate Secretary

  
 or to such other address as either
party may have furnished to the other in writing in accordance herewith, except that notices of change of address shall be effective only upon receipt. 
  
 9. Governing Law. The validity, interpretation, construction and performance of this Agreement shall be governed by the laws of the State of Connecticut
(without giving effect to its conflicts of law). 
  
 10.
Miscellaneous. No provisions of this Agreement may be modified, waived or discharged unless such modification, waiver or discharge is agreed to in writing signed by the Executive and Arch Chemicals. No waiver by either party hereto at any time of
any breach by the other party hereto of, or compliance with, any condition or provision of this Agreement to be performed by such other party shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or
subsequent time. No agreements or representations, oral or otherwise, express or implied, with respect to the subject matter hereof have been made by either party which are not set forth expressly in this Agreement. This Agreement, including its
exhibits, constitutes the complete understanding between the parties with respect to the subject matter hereof except as otherwise provided in this paragraph 10 or paragraph 16(e). This Agreement shall remain a valid and enforceable contract between
the parties notwithstanding any voluntary, for Cause or other employment termination. The Executive acknowledges that the Employment Agreement relating to Intellectual Property which the Executive signed and is attached as Exhibit B shall continue
to remain in effect in accordance with its terms. 
  
 11.
Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original but all of which together will constitute one and the same Agreement. 
  

 10 

 12. Withholding of Taxes. Arch Chemicals may withhold from any benefits payable under this Agreement all
federal, state, city or other taxes as shall be required pursuant to any law or governmental regulation or ruling. 
  
 13. Non-assignability. This Agreement is personal in nature and neither of the parties hereto shall, without the written consent of the other, assign or
transfer this Agreement or any rights or obligations hereunder, except as provided in paragraph 7 above. Without limiting the foregoing, the Executive’s right to receive payments hereunder shall not be assignable or transferable, whether by
pledge, creation of a security interest or otherwise, other than a transfer by his or her will or by the laws of descent or distribution, and, in the event of any attempted assignment or transfer by the Executive contrary to this paragraph, Arch
Chemicals shall have no liability to pay any amount so attempted to be assigned or transferred. 
  
 14. No Employment Right. This Agreement shall not be deemed to confer on the Executive a right to continued employment with Arch Chemicals or any of its
subsidiaries. 
  
 15. Disputes/Arbitration. 
  
 (a) Except with respect to enforcement by Arch Chemicals of Paragraph 16 or
other legal action by Arch Chemicals for breach by the Executive of paragraph 16, any dispute or controversy arising under or in connection with this Agreement shall be settled exclusively by arbitration at Arch Chemicals’ corporate
headquarters in accordance with the rules of the American Arbitration Association then in effect. Judgment may be entered on the arbitrator’s award in any court having jurisdiction. 
  
 (b) Arch Chemicals shall pay all reasonable legal fees and expenses, as they become due, which the Executive may incur to
enforce this Agreement through arbitration or otherwise unless the arbitrator determines that Executive had no reasonable basis for his or her claim. Should Arch Chemicals dispute the entitlement of the Executive to such fees and expenses, the
burden of proof shall be on Arch Chemicals to establish that the Executive had no reasonable basis for his or her claim. 
  
 16. Nonsolicitation. 
  
 (a) Executive agrees that while employed by Arch Chemicals and for one year immediately following the cessation of Executive’s employment with Arch
Chemicals for any reason (whether voluntary or otherwise), Executive shall: 
  
 (i) not, in any way, directly or indirectly, on Executive’s own behalf or on behalf of or in conjunction with any person, company, business, partnership, enterprise or organization solicit, entice, hire, employ
or endeavor to employ any of the employees of Arch Chemicals (but excluding former employees who are not so solicited, enticed or hired prior to such former employee’s employment termination); and 
  
 (ii) not, directly or indirectly, contact or solicit (or advise or consult
for any person, organization, partnership, business, company or enterprise with respect to soliciting or contacting) any person or entity who was a customer of Arch 
  

 11 

 Chemicals at any time in the twenty-four (24) month period prior to the Executive’s cessation of employment or any
potential customer of Arch Chemicals who was specifically targeted for solicitation by Arch Chemicals at any time during such 24-month period (such customer and potential customer being an “Arch Customer”), for the purpose of diverting
such customer from Arch Chemicals with respect to, or for the purpose of recommending, selling or providing any product or service similar to or competing with, any product or service that (A) is offered by Arch Chemicals at time of employment
termination and (B) the Executive was engaged in managing, marketing, selling or manufacturing at any time during his or her employment with Arch Chemicals or Olin Corporation (together with subsidiaries of Olin Corporation, being collectively
“Olin”); provided further that this clause (ii) shall also apply to (x) those Arch Customers with whom the Executive met or contacted at any time prior to employment termination for the express purpose of establishing, soliciting or
maintaining a customer relationship with Arch Chemicals or Olin and (y) any product or service that is offered by Arch Chemicals at the time of employment termination and that was or was to be the basis of such customer relationship. 
  
 (b) The parties have carefully read this Agreement and have given and do now
give careful consideration to the restraints imposed upon Executive by this Agreement and are in full accord as to their necessity for the reasonable and proper protection of Arch Chemicals’ businesses. Executive acknowledges and agrees that
(i) each and every restraint imposed by this Agreement is reasonable with respect to subject matter, duration and geographic area and (ii) that his or her services to Arch Chemicals are unique and special and that the Executive has knowledge of Arch
Chemicals’ trade secrets, customer base and other confidential information of Arch Chemicals and the Executive hereby agrees he or she will not assert anything to the contrary in any court, hearing, arbitration, mediation or other legal forum.
Executive further acknowledges and agrees that the restrictions contained in this Agreement will not prevent Executive from earning a living within his or her trade or specialty. The restraints imposed by this Agreement shall continue for their full
periods and throughout the geographic areas set forth in this Agreement except as provided in paragraph 17 below. 
  
 (c) If the Executive shall violate or attempt to violate any of the provisions of this paragraph 16, then Arch Chemicals shall be entitled, as of right,
to an injunction and/or other equitable relief against Executive, restraining Executive from violating or attempting to violate any of these provisions. The parties further agree that this provision does not limit any other remedies that may be
available to Arch Chemicals for breach of this paragraph 16 by Executive. 
  
 (d) The Executive acknowledges that, because of the competitive nature of Arch Chemicals’ businesses and Arch Chemicals’ repeat transactions with many customers, the development and enhancement of customer
relationships, contacts and goodwill are critical factors in ensuring Arch Chemicals’ survival and success and that such customer relationships, contacts and goodwill constitute valuable assets belonging to Arch Chemicals, whether or not such
assets are produced by the Executive’s own efforts. Executive further acknowledges that directly or indirectly soliciting Arch Chemicals’ customers for a competitor of Arch Chemicals would inevitably result in disclosure of trade secrets
and confidential information belonging to Arch Chemicals, thus irreparably harming Arch Chemicals. 
  

 12 

 (e) The provisions contained in this Paragraph 16 are in addition to, and supplement, any other
nonsolicitation or noncompete agreements to which the Executive may be a party involving Arch Chemicals and do not supersede, amend or limit any such prior agreements. The Executive acknowledges and agrees that any prior noncompetition agreement
between the Executive and Olin has been assigned to Arch Chemicals and is effective as if originally entered into with Arch Chemicals instead of Olin. 
  
 (f) For purposes of this paragraph 16, “Arch Chemicals” means Arch Chemicals including its subsidiaries. 
  
 17. Severability. The parties have entered into this Agreement in the belief
that its provisions are valid, reasonable, and enforceable. However, if any one or more of the provisions contained in this Agreement shall be held to be unenforceable for any reason, such unenforceability shall not affect any other provision of
this Agreement, and this Agreement shall be construed as if such unenforceable provision had never been contained herein. However, if any one or more of the provisions contained in paragraph 16 hereof shall for any reason be held to be excessively
broad as to time, duration, geographic scope, activity or subject, it shall be construed, by limiting and reducing it, so as to be enforceable to the extent compatible with applicable law. 
  
 IN WITNESS WHEREOF, the parties have caused this Agreement to be executed and
delivered as of the day and year first above set forth. 
  

			
	 ARCH CHEMICALS, INC.

		
	 By:
	 	  

  

	
	  

	 Name:

  

 13 

 Exhibit A 
  
 Form of Release 
  
 1. In return for the payments and benefits provided by Arch Chemicals, Inc. (the “Company”) under the Executive Agreement, dated
            ,          (the “Executive Agreement”) between the undersigned and the Company, the undersigned agrees not to
bring or to participate in any legal proceedings against the Company, its subsidiaries or successors or the officers, agents, representatives or executives of the Company or its subsidiaries or their respective successors (collectively
“Releasees”) which the undersigned may have or claim to have as a result of the undersigned’s employment which arise out of or relate to acts or conduct or omissions which occurred prior to the execution of this release. For purposes
of the preceding sentence, “participation” does not include participating in legal proceedings under compulsion of legal process. 
  
 2. The undersigned releases and forever discharges each of the Releasees from any and all claims or causes of action of any kind, known or unknown, including claims of
discrimination based on age under the federal Age Discrimination in Employment Act, as amended, or under any related state, federal or local law, ordinance or regulation; or claims or causes of action under Title VII of the Civil Rights Act, as
amended, or under any related federal, state or local law, ordinance or regulation; or discrimination claims or causes of action under the American with Disabilities Act or under any related federal, state or local law, ordinance or regulation; any
claims under the Family and Medical Leave Act or any related state or local law, ordinance or regulation, or based upon any other factor prohibited by federal, state or local law, ordinance or regulation; any claims for wages, incentive pay, bonuses
or other compensation or for benefits of any kind (exclusive of accrued but unpaid wages and vacation pay as of the date of employment termination, any compensation deferred under the Employee Deferral Plan, qualified and non-qualified pension and
savings plan benefits and any rights with respect to outstanding and exercisable stock options, vested performance share units or similar outstanding and vested stock-based awards granted under the Company’s incentive stock plan (which
stock-based awards are the subject of other arrangements and plan provisions), any payments or benefits to which the undersigned is entitled under the Executive Agreement) or claims under the Employee Retirement Income Security Act; any claims for
attorney’s fees, costs or expenses; and any other statutory or common law claims, including but not limited to any claims for wrongful discharge, for negligent and/or intentional infliction of “emotional distress” or any other tort
claim, any claim for breach of any implied or express contract, libel, slander, promissory or equitable estoppel, breach of an implied covenant of good faith and fair dealing, fraud or misrepresentation. In addition, the undersigned further agrees
that except as may be required by court order or subpoena or federal law or regulations, the undersigned will not in any way, directly or indirectly, assist any individual or entity in bringing or prosecuting any lawsuit against the Releasees.

  
 3. The undersigned acknowledges that the consideration the undersigned has
received from the Company under the Executive Agreement fully satisfies any and all claims he or she may now have or previously had with respect to his or her employment with or separation from the Company and any of its subsidiaries, including,
without limitation, Job Transition Benefits. 
  

 14 

 4. It is understood, however, that the undersigned’s agreement not to bring a cause of action against the Company
does not include any action alleging a breach of the Executive Agreement by the Company and that nothing herein shall prevent the undersigned from bringing a claim for indemnification as a Company officer under Article IV of the Company’s
Amended and Restated Articles of Incorporation at any time as provided therein and in accordance therewith. 
  
 5. The undersigned understands that the Employment Agreement Relating to Intellectual Property with the Company, which the undersigned signed and is attached hereto as Attachment A, shall continue to remain in effect
according to its terms. 
  
 6. Moreover, the undersigned agrees that should he or
she breach this release in any manner, including but not limited to by bringing or participating in a legal proceeding or legal cause of action against the Releasees, contrary to the terms hereof, the undersigned will return to the Company any and
all payments which the undersigned received under the Executive Agreement, with the exception of any benefits to which the undersigned was legally entitled by law, in the absence of the Executive Agreement. 
  
 7. The undersigned understands that the Company does not acknowledge or admit that it has
violated any of the undersigned’s rights under any federal, state or local law or ordinance or that it has violated any contractual or other legal obligations. Nothing in this release, nor the fact that the Company has entered this release,
shall be construed as an admission of liability or wrongdoing by the Company, which liability or wrongdoing is expressly denied. 
  
 8. The undersigned is hereby advised to consult with an attorney of his or her choice and the undersigned agrees that he or she has been afforded a period of at least
twenty-one (21) days to consider the terms of this release with such attorney or with anyone else whom the Employee chooses to consult, that the undersigned understands he or she has seven (7) days from the date of signing this release in which to
revoke it and that this release shall not become effective or enforceable until this revocation period has expired. 
  
 9. Finally, the undersigned acknowledges that he or she is fully competent to enter this release that he or she has carefully read and fully understands all of the
provisions of this release and the Executive Agreement and that he or she has knowingly and voluntarily executed this release and the Executive Agreement without any pressure or duress in exchange for full and sufficient consideration for which he
or she otherwise would not normally be entitled. 
  

			
	 Dated:
                    
	 	

	 	 	Name:

  

 15

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