Notice of Non-Extension of Executive Agreement between Olin Corporation and Executive
Olin Corporation is notifying the executive that their current Executive Agreement, dated November 1, 2002, will not be extended beyond its scheduled end date of October 31, 2007. The company provides this notice in accordance with the agreement's requirement for 90 days' advance written notice. Olin indicates its intention to discuss new, revised arrangements with the executive after the current agreement expires, or sooner if both parties agree to terminate the current agreement early.
Exhibit 10.1
[Olin Letterhead]
July 29, 2005
[Name and Address]
RE: Notice of Non-Extension of Executive Agreement
Dear :
As you know, the term of the current Executive Agreement between you and Olin Corporation (“Olin”), dated November 1, 2002, would automatically extend for one additional year (that is, through October 31, 2008) unless Olin provides you at least 90 days advance written notice of its decision not to extend the term. This letter shall constitute notice to you that Olin has decided not to extend the term of the Executive Agreement beyond its currently scheduled termination date of October 31, 2007. Olin’s present intention would be at such time to enter into new revised arrangements with you upon the expiration of the term of your current Executive Agreement (or earlier, if you were to agree voluntarily to enter into any such new arrangements in exchange for the surrender and termination of your current Executive Agreement), which would be substantially similar to the executive agreement and change of control agreement given to other senior officers.
| Very truly yours, |
| OLIN CORPORATION |
