Document:

Exhibit 10.2

 Exhibit 10.2 
 FIRST AMENDMENT TO CREDIT AGREEMENT 
 THIS FIRST AMENDMENT TO CREDIT
AGREEMENT (this “Amendment”) dated as of July 25, 2007, is made by and among ALBEMARLE CORPORATION, a Virginia corporation (the “Company”), ALBEMARLE EUROPE SPRL, a Belgium private limited
company (the “Existing Belgian Borrower”), and ALBEMARLE NETHERLANDS BV, a private company with limited liability (besloten vennootschap) incorporated under the laws of The Netherlands (the “Netherlands
Borrower”, and together with the Company, the Existing Belgian Borrower and any other Subsidiary of the Company party hereto pursuant to Section 2.14, collectively, the “Borrowers”), ALBEMARELE GLOBAL FINANCE
COMPANY SA, a Belgian company limited by shares (soceite anonyme) (the “New Belgian Borrower”), THE SUBSIDIARIES OF THE COMPANY FROM TIME TO TIME PARTIES THERETO AND IDENTIFIED AS “GUARANTORS” ON THE
SIGNATURE PAGES HERETO (collectively with the Company, the “Guarantors”), THE PERSONS FROM TIME TO TIME PARTIES THERETO AND IDENTIFIED AS “LENDERS” ON THE SIGNATURE PAGES HERETO (the “Lenders”)
and BANK OF AMERICA, N.A., as administrative agent (the “Agent”) and amends that certain Credit Agreement dated as of March 23, 2007 (as amended or modified from time to time, the “Credit Agreement”),
among the Borrowers, the Guarantors, the Lenders and the Agent. 
 W I T N E S S E T H 

WHEREAS, the Lenders have, pursuant to the terms of the Credit Agreement, made available to the Borrowers and the Guarantors a
revolving credit facility in the aggregate original principal amount of $675,000,000; 
 WHEREAS, the parties hereto have
agreed to amend the Credit Agreement as set forth herein; 
 NOW, THEREFORE, IN CONSIDERATION of the premises and other
good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows: 
 A. Definitions. Unless the context otherwise requires, capitalized terms used but not otherwise defined herein shall have the meanings assigned in the Credit Agreement. 

B. Amendments.  
 1. Section 1.01. The definitions of “Belgian Borrower”, “Borrowers” and “Netherlands Borrower” in Section 1.01 are hereby amended to read as follows:

 “Belgian Borrower” means Albemarle Global Finance Company SA, a Belgian company limited by
shares (societe anonyme). 
 “Borrowers” means the Company and the Belgian Borrower and,
if the conditions of Section 2.14 are satisfied, any other Designated Borrower, and “Borrower” means any one of the Borrowers. 
 “Netherlands Borrower” [intentionally omitted]. 
 C.
Designation of Albemarle Global Finance Company SA as a Borrower. Effective as of the date hereof, Albemarle Global Finance Company SA (“AGFC”) shall be a Borrower under the Loan Documents. AGFC confirms that it is a
Designated Borrower and shall have obligations, duties and liabilities toward each of the other parties to the Credit Agreement identical to those which AGFC would have had if AGFC had been an original party to the Credit Agreement as a Borrower.

 D. Removal of Albemarle Europe sprl as a Borrower. Effective as of the date
hereof, Albemarle Europe sprl shall no longer be a Borrower under the Loan Documents and is hereby released from its obligations under the Credit Agreement and the Loan Documents. 

E. Assignment by Albemarle Netherlands BV to Albemarle Global Finance Company SA. Effective as of the date hereof,
(i) Albemarle Netherlands BV hereby absolutely assigns, transfers and conveys to AGFC all of its rights, interests, duties, obligations and liabilities in, to and under the Loan Documents and (ii) AGFC hereby absolutely accepts such
assignment and assumes all of the duties, obligations and liabilities of Albemarle Netherlands BV in, to and under the Loan Documents to the same extent as if AGFC had executed the Loan Documents in the capacity as a Borrower. AGFC hereby ratifies,
as of the date hereof, and agrees to be bound by the terms and provisions of the Loan Documents and accepts all of Albemarle Netherlands BV’s rights, interests, duties, obligations and liabilities thereunder. Immediately following such
assignment and transfer, Albemarle Netherlands BV shall no longer be a Borrower under the Loan Documents. Effective upon such assignment and assumption, Albemarle Netherlands BV is hereby released from its obligations under the Credit Agreement and
the other Loan Documents. 
 F. Conditions Precedent. This Amendment shall be and become effective upon the
satisfaction of the following conditions: 
 1. The Agent shall have received: 

(a) counterparts of this Amendment, which collectively shall have been duly executed on behalf of each Borrower, the
Guarantors, the Agent and the Required Lenders; 
 (b) (i) copies of the Articles of Incorporation of AGFC
certified to be true and complete as of a recent date by the appropriate Governmental Authority of the jurisdiction of its incorporation, and certified by a secretary or assistant secretary of AGFC to be true and correct as of the date hereof and
(ii) resolutions and incumbency certificates evidencing the identity, authority and capacity of each Responsible Officer of AGFC authorized to act as a Responsible Officer in connection with the Loan Documents; 

(c) favorable opinions of Troutman Sanders LLP and Hunton and Williams LLP addressed to the Administrative Agent and the
Lenders, dated as of the date hereof, and in form and substance reasonably satisfactory to the Administrative Agent; and 
 (d) Notes executed by AGFC in favor of the Lenders to the extent any Lenders so require. 
 G. Expenses. The Company agrees to pay all reasonable costs and expenses of the Agent in connection with the preparation, execution and delivery of this Amendment, including without
limitation the reasonable fees and expenses of the Agent’s legal counsel. 
 H. Effect. Except as expressly
modified and amended in this Amendment, all of the terms, provisions and conditions of the Credit Agreement are and shall remain in full force and effect and are incorporated herein by reference, and the obligations of the Loan Parties hereunder and
under the other Loan Documents are hereby ratified and confirmed and shall remain in full force and effect. Any and all other documents heretofore, now or hereafter executed and delivered pursuant to the terms of the Credit Agreement are hereby
amended so that any reference to the Credit Agreement shall mean a reference to the Credit Agreement as amended hereby. 
 I.
Representations and Warranties. Each Loan Party represents and warrants to the Lenders that (i) the representations and warranties set forth in Article VI of the Credit Agreement are true and correct on and as of the date hereof,
except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct as of such earlier date, (ii) no Default exists and (iii) none of the Loan Parties has any
counterclaims, offsets, credits or defenses to the Loan Documents and the performance of their respective obligations thereunder, or if any Loan Party has any such claims, counterclaims, offsets, credits or defenses to the Loan Documents or any
transaction related to the Loan Documents, the same are hereby waived, relinquished and released in consideration of the Lenders’ execution and delivery of this Amendment. 

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

[Signatures follow.] 

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

									
	COMPANY:	 		 	 ALBEMARLE CORPORATION,
 a Virginia corporation

					
		 		 		 	By:	 	/s/ Kevin Wilson
		 		 		 	Name:	 	Kevin Wilson
		 		 		 	Title:	 	Treasurer
			
	BELGIAN BORROWER:	 		 	ALBEMARLE EUROPE SPRL
					
		 		 		 	By:	 	/s/ Philippe Clement
		 		 		 	Name:	 	Philippe Clement
		 		 		 	Title:	 	Gérant
			
		 		 	ALBEMARLE GLOBAL FINANCE COMPANY SA
					
		 		 		 	By:	 	/s/ Philippe Clement
		 		 		 	Name:	 	Philippe Clement
		 		 		 	Title:	 	Gérant
			
	NETHERLANDS BORROWER:	 		 	ALBEMARLE NETHERLANDS BV
					
		 		 		 	By:	 	/s/ Stephane Leclef
		 		 		 	Name:	 	Stephane Leclef
		 		 		 	Title:	 	Managing Director

									
	ADMINISTRATIVE AGENT:	 		 	BANK OF AMERICA, N.A.,
as Administrative Agent
					
		 		 		 	By:	 	/s/ Colleen M. Briscoe
		 		 		 	Name:	 	Colleen M. Briscoe
		 		 		 	Title:	 	Senior Vice President
			
	LENDERS:	 		 	 BANK OF AMERICA, N.A.,
 as a Lender, L/C Issuer and Swing Line Lender

					
		 		 		 	By:	 	/s/ Colleen M. Briscoe
		 		 		 	Name:	 	Colleen M. Briscoe
		 		 		 	Title:	 	Senior Vice President
			
		 		 	WACHOVIA BANK, NATIONAL ASSOCIATION
					
		 		 		 	By:	 	/s/ T.F. Galage
		 		 		 	Name:	 	Timothy F. Galage
		 		 		 	Title:	 	Senior Vice President
			
		 		 	ABN AMRO BANK N.V.
					
		 		 		 	By:	 	/s/ George Dugan
		 		 		 	Name:	 	George Dugan
		 		 		 	Title:	 	Managing Director
					
		 		 		 	By:	 	/s/ Patricia Christy
		 		 		 	Name:	 	Patricia Christy
		 		 		 	Title:	 	Patricia Christy
			
		 		 	THE BANK OF NEW YORK
					
		 		 		 	By:	 	/s/ Paul F. Noel
		 		 		 	Name:	 	Paul F. Noel
		 		 		 	Title:	 	Senior Vice President
			
		 		 	THE BANK OF TOKYO-MITSUBISHI UFJ, LTD.
					
		 		 		 	By:	 	/s/ Janet L. Wheeler
		 		 		 	Name:	 	Janet L. Wheeler
		 		 		 	Title:	 	Vice President
					
		 		 		 	By:	 	/s/ Douglas M. Barnell
		 		 		 	Name:	 	Douglas M. Barnell
		 		 		 	Title:	 	Vice President & Manager

 
			
	FORTIS BANK S.A./N.V., CAYMAN ISLANDS BRANCH
		
	By:	 	/s/ John W. Deegan
	Name:	 	John W. Deegan
	Title:	 	Senior Vice President
		
	By:	 	/s/ Rachel Lanava
	Name:	 	Rachel Lanava
	Title:	 	Vice President
	
	SUNTRUST BANK
		
	By:	 	/s/ William C. Washburn, Jr.
	Name:	 	William C. Washburn, Jr.
	Title:	 	Vice President
	
	JPMORGAN CHASE BANK, N.A.
		
	By:	 	/s/ Lee P. Brennan
	Name:	 	Lee P. Brennan
	Title:	 	Senior Vice President
	
	MIZUHO CORPORATE BANK (USA)
		
	By:	 	/s/ Leon Mo
	Name:	 	Leon Mo
	Title:	 	Senior Vice President
	
	SUMITOMO MITSUI BANKING CORPORATION
		
	By:	 	/s/ Yoshihiro Hyakutome
	Name:	 	Yoshihiro Hyakutome
	Title:	 	General Manager
	
	UBS LOAN FINANCE LLC
		
	By:	 	/s/ David B. Julie
	Name:	 	David B. Julie
	Title:	 	Associate Director
		 	 Banking Products
 Services,
US

		
	By:	 	/s/ Irja R. Otsa
	Name:	 	Irja R. Otsa
	Title:	 	Associate Director
		 	 Banking Products
 Services,
US

	
	BANK OF CHINA, NEW YORK BRANCH
		
	By:	 	/s/ William W. Smith
	Name:	 	William W. Smith
	Title:	 	Deputy General Manager

 
			
	BRANCH BANKING & TRUST COMPANY
		
	By:	 	/s/ Susan M. Raher
	Name:	 	Susan M. Raher
	Title:	 	Senior Vice President
	
	MERRILL LYNCH CAPITAL CORPORATION
		
	By:	 	/s/ John Swadba
	Name:	 	John Swadba
	Title:	 	Managing Director
	
	WHITNEY NATIONAL BANK
		
	By:	 	/s/ Josh Jones
	Name:	 	Josh Jones
	Title:	 	Vice PresidentExhibit 10.17

 Exhibit 10.17 
 Summary of Directors’ Compensation 
 In 2010, non-employee directors
were paid $17,000 per quarter ($68,000 per year). In addition, in accordance with the 2008 Director Stock Plan, non-employee directors received, for service as a director, shares of Albemarle common stock equal to the amount of the annual retainer
fee divided by the closing price per share of Albemarle common stock on the Annual Meeting date, which was $44.20. 

Non-employee directors also received an additional amount based on their committee service. Audit Committee members received $2,250 per
quarter ($9,000 per year), and the Chairman of the Audit Committee received an additional $2,250 per quarter ($9,000 per year). Executive Compensation Committee members received $2,250 per quarter ($9,000 per year), and the Chairman of the Executive
Compensation Committee received an additional $2,250 per quarter ($9,000 per year). Nominating and Governance Committee members received $1,250 per quarter ($5,000 per year), and the Chairman of the Nominating and Governance Committee received an
additional $750 per quarter ($3,000 per year). Health, Safety and Environment members received $1,250 per quarter ($5,000 per year), and the Chairman of the Safety, Health, and Environment Committee received an additional $750 per quarter ($3,000
per year). Our Lead Independent Director received $50,000 in 2010 in lieu of committee fees. In addition, we reimbursed each of our non-employee directors for reasonable travel expenses incurred in connection with attending Board and Board Committee
meetings, and we matched up to $2,500 for director charitable giving. Employee members of the Board of Directors were not paid separately for service on the Board.

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