OLIN CORP
GREER EXECUTIVE AGREEMENT AMENDMENT
<DOCUMENT>
<TYPE>EX-10.I
<SEQUENCE>6
<FILENAME>greerexecagreementamend.htm
<DESCRIPTION>GREER EXECUTIVE AGREEMENT AMENDMENT
<TEXT>
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    <title>greerexecagreementamend.htm</title>
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    <div style="DISPLAY: block; MARGIN-LEFT: 108pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Exhibit
10(i)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 108pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">AMENDMENT
NUMBER ONE (the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Amendment</font>&#8221;), dated as
of November 9, 2007, between OLIN CORPORATION, a Virginia corporation (&#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Olin</font>&#8221;), and Bruce
Greer (the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Executive</font>&#8221;), to the
Executive Agreement (the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Executive
Agreement</font>&#8221;), dated as of May 2, 2005, between Olin and the
Executive.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">WHEREAS
Olin and the Executive wish to amend the Executive Agreement in order to (i)
address the requirements of Section&#160;409A of the Internal Revenue Code of
1986, as amended (the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Code</font>&#8221;), and (ii) make
certain other changes as set forth herein.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOW,
THEREFORE, in consideration of the mutual agreements, provisions and covenants
contained herein, and intending to be legally bound hereby, the parties hereto
agree as follows:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SECTION
1.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Amendment to
Section&#160;1(b).</font>&#160;&#160;The following clause shall be deemed to
have been inserted into Section&#160;1(b) at the end of the first
sentence:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 36pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;or a
willful breach by Executive of Olin&#8217;s Code of Business Conduct.&#8221;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SECTION
2.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Amendment to Section
3(a).</font>&#160;&#160;Section&#160;3(a) shall be deemed to have been deleted
and the following section shall be deemed to have been inserted in its
place:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;(a) This
Agreement expires at the close of business on January 26, 2011, provided that
beginning on January 26, 2009 and on each January 26 thereafter (any such
January 26 being referred to herein as a &#8220;Renewal Date&#8221;) the term of this
Agreement shall be extended for one additional year unless Olin has provided
Executive with written notice at least 90 days in advance of the immediately
succeeding Renewal Date that the term of this Agreement shall not be so
extended, provided that the expiration of this Agreement shall not affect any of
Executive&#8217;s rights resulting from a Termination occurring prior to such
expiration.&#160;&#160;In the event of Executive&#8217;s death while employed by Olin,
this Agreement shall terminate and be of no further force or effect on the date
of Executive&#8217;s death.&#160;&#160;Executive&#8217;s death will not affect any of
Executive&#8217;s rights resulting from a Termination prior to death.&#8221;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SECTION
3.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Amendment to
Section&#160;4(a).</font>&#160;&#160;Section&#160;4(a) shall be deemed to have
been deleted and the following section shall be deemed to have been inserted in
its place:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;(a)&#160;&#160;Subject
to Section 4(b), in the event of a Termination occurring before the expiration
of this Agreement, Olin will pay Executive, in equal installments in accordance
with Olin&#8217;s normal payroll practices, over the 12-month period that begins on
the 55th day after the date of Termination, an aggregate amount equal to the
Executive Severance, provided that no amounts shall be payable to Executive
unless, on or prior to the 54th day following the date of Termination, (i)
Executive shall have executed the Release (described in Section 6) and (ii) such
Release shall have become effective and irrevocable.&#8221;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SECTION
4.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Amendment to Section
4(b).</font>&#160;&#160;Section&#160;4(b) shall be deemed to have been deleted
and the following section shall be deemed to have been inserted in its
place:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;(b)&#160;&#160;Notwithstanding
Section&#160;4(a), if Executive would otherwise have been required by Olin
policy to retire at age&#160;65, then if the date of Executive&#8217;s sixty-fifth
birthday falls during the 12-month period immediately following the date of
Termination, the aggregate amount payable pursuant to Section 4(a) shall be
reduced to the amount equal to the product of (i)&#160;the Executive Severance,
multiplied by (ii)&#160;a fraction, the numerator of which is the number of days
from the date of Termination through and including the date of Executive&#8217;s
sixty-fifth birthday and the denominator of which is 365, and such reduced
amount shall be payable (subject to the Release requirement set forth in
Sections&#160;4(a) and 6) in equal installments in accordance with Olin&#8217;s normal
payroll practices<font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font>over the period that
begins on the 55th day after the date of Termination and ends on the 55th day
after the Executive&#8217;s sixty-fifth birthday.&#8221;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SECTION
5.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Amendment to
Section&#160;4(c).</font>&#160;&#160;Section&#160;4(c) shall be deemed to have
been deleted and the following section shall be deemed to have been inserted in
its place:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;(c)&#160;&#160;If
on the date of Termination, Executive is eligible and is receiving payments
under any then existing disability plan of Olin or its subsidiaries and
affiliates, then Executive agrees that all payments under such disability plan
may, and will be, suspended and offset (subject to applicable law) during the
12-month period specified in Section&#160;4(a) (or, if applicable, such shorter
as specified in Section&#160;4(b)).&#160;&#160;If, after such period, Executive
remains eligible to receive disability payments, then such payments shall resume
in the amounts and in accordance with the provisions of the applicable
disability plan of Olin or its subsidiaries and affiliates.&#8221;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SECTION
6.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Amendment to
Section&#160;4(d).</font>&#160;&#160;The following clause shall be deemed to
have been inserted into Section 4(d) at the beginning of the last
sentence:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;Subject
to Section 18(b),&#8221;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SECTION
7.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Amendment to
Section&#160;5(a).</font>&#160;&#160;Section&#160;5(a) shall be deemed to have
been deleted and the following section shall be deemed to have been inserted in
its place:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;(a)&#160;&#160;If
Executive becomes entitled to payment under Section&#160;4(a) or 4(b), as
applicable, then (i)&#160;Executive will be treated as if Executive remained
employed for service purposes for 12&#160;months following the date of
Termination.&#160;&#160;If the date of Termination is prior to January&#160;1,
2008, the Executive will receive 12&#160;months of service credit under all Olin
qualified and non-qualified defined benefit pension plans for which Executive
was eligible at the time of termination.&#160;&#160;If the date of Termination
is after December&#160;31, 2007, the Executive will receive 12&#160;months of
retirement contributions to all Olin qualified and non-qualified defined
contribution plans for which Executive was eligible at the time of the
Termination.&#160;&#160;Such contributions shall be based on the amount of the
Executive Severance.&#160;&#160;Such service credits or contributions shall be
applied to Olin&#8217;s qualified pension plans to the extent permitted under then
applicable law, otherwise such credit shall be applied to Olin&#8217;s non-qualified
defined benefit or defined contribution plan, as
appropriate.&#160;&#160;Payments under such non-qualified plans shall be due at
the times and in the manner payments are due Executive under Olin&#8217;s
non-qualified defined benefit and defined contribution pension plans, it being
understood that Executive shall be permitted to receive payments from Olin&#8217;s
plans (assuming Executive otherwise qualifies to receive such payments, is
permitted to do so under the applicable plan terms and elects to do so), during
the period that Executive is receiving payments pursuant to Section&#160;4(a)),
and that Executive&#8217;s defined benefit pension benefit will be determined based on
Executive&#8217;s actual age at the time Executive&#8217;s pension benefit commences; and
(ii)&#160;for 12&#160;months from the date of the Termination, Executive (and
Executive&#8217;s covered dependents) will continue to enjoy coverage on the same
basis as a similarly situated active employee under all Olin medical, dental,
and life insurance plans to the extent Executive was enjoying such coverage
immediately prior to the Termination.&#160;&#160;Executive&#8217;s entitlement to
insurance continuation coverage under the Consolidated Omnibus Budget
Reconciliation Act of 1985 would commence at the end of the period during which
insurance coverage is provided under this Agreement without offset for coverage
provided hereunder.&#160;&#160;Executive shall accrue no vacation during the
12&#160;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.&#160;&#160;If Executive receives the Executive Severance
(including the amount referred to in Section&#160;1(c)(ii)), Executive shall not
be entitled to an ICP award for the calendar year of Termination if Termination
occurs during the first calendar quarter.&#160;&#160;Even if Executive receives
the Executive Severance (including the amount referred to in
Section&#160;1(c)(ii)), if Termination occurs during or after the second
calendar quarter, Executive shall be entitled to a prorated ICP award for the
calendar year of Termination which shall be determined by multiplying the
average actual payout (as a percentage of the ICP standard) for all participants
in the ICP in the same measurement organizational unit by a fraction, the
numerator of which is the number of weeks in the calendar year prior to the
Termination and the denominator of which is 52, which shall be payable at
substantially the same time as ICP payments for the year in which Termination
occurs are made to then current active employees, provided that such payment
shall be made to Executive no earlier than January&#160;1 and no later than
December&#160;31 of the calendar year following the year in which the date of
Termination occurs.&#160;&#160;Executive shall accrue no ICP award following the
date of Termination.&#8221;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SECTION
8.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Amendment to Section
5(c).</font>&#160;&#160;The following sentence shall be deemed to have been
added to the end of Section&#160;5(c):</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;The
outplacement services will be provided for a period of 12&#160;months beginning
within five days after the Release described in Section&#160;6 becomes effective
and irrevocable.&#8221;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SECTION
9.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Amendment to Section
6.</font>&#160;&#160;Section 6 shall be deemed to have been deleted and the
following section shall be deemed to have been inserted in its
place:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 36pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;SECTION
6.&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Release</font>.&#160;&#160;Executive
shall not be entitled to receive any of the payments or benefits set forth in
Sections 4 and 5 unless Executive executes a Release (substantially in the form
of Exhibit A hereto) in favor of Olin and others set forth in Exhibit A relating
to all claims or liabilities of any kind relating to Executive&#8217;s employment with
Olin or an affiliate and the termination of such employment, and, on or prior to
the 54th day following the date of Termination, such Release becomes effective
and irrevocable in accordance with the terms thereof.&#8221;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SECTION
10.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Amendment to
Section&#160;12.</font>&#160;&#160;The last sentence of Section&#160;12 shall be
deemed to have been deleted and the following sentence shall be deemed to have
been inserted in its place:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 36pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;Except
as expressly provided in this Agreement and subject to Section&#160;18(b),
payments made pursuant to this Agreement shall not be affected by any set-off,
counterclaim, recoupment, defense or other claim which Olin and its subsidiaries
and affiliates may have against Executive.&#8221;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SECTION
11.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Amendment to Section
16(b).</font>&#160;&#160;Section&#160;16(b) shall be deemed to have been deleted
and the following section shall be deemed to have been inserted in its
place:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;(b)&#160;&#160;Olin
shall pay all reasonable legal fees and expenses, as they become due, which
Executive may incur prior to the third anniversary of the expiration of this
Agreement to enforce this Agreement through arbitration or otherwise unless the
arbitrator determines that Executive had no reasonable basis for Executive&#8217;s
claim.&#160;&#160;Should Olin dispute the entitlement of Executive to such fees
and expenses, the burden of proof shall be on Olin to establish that Executive
had no reasonable basis for Executive&#8217;s claim.&#160;&#160;All reimbursable
expenses shall be reimbursed to Executive as promptly as practicable and in any
event not later than the last day of the calendar year after the calendar year
in which the expenses are incurred, and the amount of expenses eligible for
reimbursement during any calendar year will not affect the amount of expenses
eligible for reimbursement in any other calendar year.&#8221;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SECTION
12.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Amendment to Section
17(a).</font>&#160;&#160;Section 17(a) shall be deemed to have been deleted and
the following section shall be deemed to have been inserted in its
place:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;(a)&#160;&#160;Except
as specifically provided in Section&#160;18(d), no provisions of this Agreement
may be modified, waived or discharged unless such modification, waiver or
discharge is agreed to in writing signed by Executive and Olin.&#160;&#160;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.&#8221;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SECTION
13.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Amendment to
Section&#160;17(c).</font>&#160;&#160;The following clause shall be deemed to
have been inserted into the beginning of the second sentence of Section
17(c):</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;Subject
to Section 18(b),&#8221;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SECTION
14.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Amendment to
Section&#160;18.</font>&#160;&#160;The following new section shall be deemed to
have been inserted as Section 18:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;SECTION
18.&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Section
409A</font>.&#160;&#160;(a)&#160;&#160;It is intended that the provisions of
this Agreement comply with Section 409A of the Internal Revenue Code of 1986, as
amended, and the regulations thereunder as in effect from time to time
(collectively, hereinafter, &#8220;Section&#160;409A&#8221;), and all provisions of this
Agreement shall be construed and interpreted in a manner consistent with the
requirements for avoiding taxes or penalties under
Section&#160;409A.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)&#160;&#160;Neither
Executive nor any of Executive&#8217;s creditors or beneficiaries shall have the right
to subject any deferred compensation (within the meaning of Section&#160;409A)
payable under this Agreement or under any other plan, policy, arrangement or
agreement of or with Olin or any of its affiliates (this Agreement and such
other plans, policies, arrangements and agreements, the &#8220;Olin Plans&#8221;) to any
anticipation, alienation, sale, transfer, assignment, pledge, encumbrance,
attachment or garnishment.&#160;&#160;Except as permitted under
Section&#160;409A, any deferred compensation (within the meaning of Section
409A) payable to Executive or for Executive&#8217;s benefit under any Olin Plan may
not be reduced by, or offset against, any amount owing by Executive to Olin or
any of its affiliates.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c)&#160;&#160;If,
at the time of Executive&#8217;s separation from service (within the meaning of
Section 409A), (i)&#160;Executive shall be a specified employee (within the
meaning of Section 409A and using the identification methodology selected by
Olin from time to time) and (ii)&#160;Olin shall make a good faith determination
that an amount payable under an Olin Plan constitutes deferred compensation
(within the meaning of Section&#160;409A) the payment of which is required to be
delayed pursuant to the six-month delay rule set forth in Section&#160;409A in
order to avoid taxes or penalties under Section&#160;409A, then Olin (or its
affiliate, as applicable) shall not pay such amount on the otherwise scheduled
payment date but shall instead accumulate such amount and pay it, without
interest, on the first business day after such six-month period.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(d)&#160;&#160;Notwithstanding
any provision of this Agreement or any Olin Plan to the contrary, in light of
the uncertainty with respect to the proper application of Section&#160;409A,
Olin reserves the right to make amendments to this Agreement and any Olin Plan
as Olin deems necessary or desirable to avoid the imposition of taxes or
penalties under Section&#160;409A.&#160;&#160;In any case, except as
specifically provided in any Olin Plan, Executive is solely responsible and
liable for the satisfaction of all taxes and penalties that may be imposed on
Executive or for Executive&#8217;s account in connection with any Olin Plan (including
any taxes and penalties under Section 409A), and neither Olin nor any affiliate
shall have any obligation to indemnify or otherwise hold Executive harmless from
any or all of such taxes or penalties.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(e)&#160;&#160;For
purposes of Section&#160;409A, each installment of Executive Severance will be
deemed to be a separate payment as permitted under Treasury Regulation
Section&#160;1.409A-2(b)(2)(iii).&#8221;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SECTION
15.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Governing Law;
Construction.</font>&#160;&#160;This Amendment shall be deemed to be made in the
Commonwealth of Virginia, and the validity, interpretation, construction and
performance of this Amendment in all respects shall be governed by the laws of
the Commonwealth of Virginia without regard to its principles of conflicts of
law.&#160;&#160;No provision of this Amendment or any related document shall be
construed against or interpreted to the disadvantage of any party hereto by any
court or other governmental or judicial authority by reason of such party&#8217;s
having or being deemed to have structured or drafted such
provision.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SECTION
16.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Effect of
Amendment.</font>&#160;&#160;Except as expressly set forth herein, this
Amendment shall not by implication or otherwise limit, impair, constitute a
waiver of, or otherwise affect the rights and remedies of the parties to the
Executive Agreement, and shall not alter, modify, amend or in any way affect any
of the terms, conditions, obligations, covenants or agreements contained in the
Executive Agreement, all of which shall continue in full force and
effect.&#160;&#160;This Amendment shall apply and be effective only with respect
to the provisions of the Executive Agreement specifically referred to
herein.&#160;&#160;After the date hereof, any reference to the Executive
Agreement shall mean the Executive Agreement as modified hereby.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SECTION
17.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Counterparts.</font>&#160;&#160;This
Amendment may be executed in one or more counterparts (including via facsimile),
each of which shall be deemed to be an original, but all of which together shall
constitute one and the same instrument and shall become effective when one or
more counterparts have been signed by each of the parties and delivered to the
other party.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">IN
WITNESS WHEREOF, this Amendment has been executed by the parties as of the date
first written above.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">
          <tr>
            <td align="left" colspan="2" valign="top" width="38%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;</font>OLIN
      CORPORATION,</font></div>
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          </tr>
          <tr>
            <td align="left" colspan="2" valign="top" width="38%">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;by</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="16%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td valign="top" width="84%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;_______________
      </font></td>
          </tr>
          <tr>
            <td valign="top" width="16%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td align="left" valign="top" width="84%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Name:</font></div>
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            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">
          <tr>
            <td align="left" colspan="2" valign="top" width="38%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;</font>EXECUTIVE,</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="16%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td align="left" valign="top" width="84%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-DECORATION: underline">/s/
      G. Bruce Greer, Jr.</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="16%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td align="left" valign="top" width="84%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">G.
      <a name="signor">Bruce Greer</a>, Jr.</font></div>
            </td>
          </tr>
      </table>
    </div>
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