Exhibit 10.8 Summary Description of Equistar Chemicals, LP Salary Deferral Plan Eligibility: Officers & certain Key Managers Eligible participants have the ability to defer up to 50% of base salary and 100% of their annual incentive awards into an income deferral plan. Elections are made on an annual basis. Earnings are credited at a market rate utilizing the Moody's Investment Grade Bond Yield Index. (Baa for Equistar for 1999.)