EXHIBIT 10(n)
                        QUAKER CHEMICAL CORPORATION

               DEFERRED COMPENSATION PLAN FOR EXECUTIVE OFFICERS


                                 Preamble

     This Plan is an unfunded deferred compensation arrangement for a
select group of management or highly-compensated personnel and all rights
hereunder shall be governed by and construed in accordance with the laws of
the Commonwealth of Pennsylvania.  The purpose of the Plan is to allow
eligible Executive Officers to defer the receipt of all or a portion of
their compensation until such date as is specified herein.

                                 ARTICLE I

                                Definitions

     "Board" means the Board of Directors of Quaker or any duly constituted
committee thereof.

     "Quaker" means Quaker Chemical Corporation, a Pennsylvania
corporation, and its corporate successors.

     "Fiscal year" or "year" (unless otherwise specified) means Quaker's
fiscal year as now constituted or as it may be changed hereafter from time
to time.

     "Participant" means an Executive Officer of Quaker or of a Subsidiary,
designated by the Chief Executive Officer of Quaker for participation in
the Plan.

     "Plan" means this Deferred Compensation Plan for Executive Officers as
it may be amended from time to time.

     "Subsidiary" means a company of which Quaker owns, directly or
indirectly, at least a majority of the shares having voting power in the
election of directors.


                                ARTICLE II

     Designation of Participants and Deferred Compensation Agreements

Section 2.01.  From time to time, the Chief Executive Officer of Quaker
shall specify:

     (a)  The name of each Executive Officer who shall be entitled to
participate in the Plan; and

                           Exhibit 10(n) Page 1

     (b)  The amount or percentage of compensation otherwise payable to the
Participant which may be deferred until such Participant's retirement,
termination of employment, disability or death.

Section 2.02.  Quaker and each Executive Officer eligible to participate in
the Plan pursuant to Section 2.01 hereof shall enter into a written
agreement, substantially in the form attached hereto or Exhibit "A"
("Deferred Compensation Agreement"), which shall contain the terms and
conditions of the Participant's deferral arrangement with the Company,
which terms and conditions shall be consistent with the terms of the Plan
and the specifications of the Board.  In the event of any inconsistency or
discrepancy between the terms of the Plan and any Deferred Compensation
Agreement, the terms of the Deferred Compensation Agreement shall control.


                                ARTICLE III

              Deferred Payments, Investments, and Forfeitures

Section 3.01.  Quaker shall cause an account to be kept in the name of each
Participant which shall reflect the value of the deferred benefits payable
under the Deferred Compensation Agreement.  Alternatively, Quaker may
establish a trust for the purpose of holding and investing the compensation
deferred pursuant to the Deferred Compensation Agreement.  Any such trust
shall be in substantially the same form as the trust established under the
trust agreement attached hereto as Exhibit "B" ("the "Trust").

Section 3.02.  Title to and beneficial ownership of any assets, whether
cash or investments, which Quaker may set aside, earmark or place into
trust hereunder, shall at all times remain the assets of Quaker; no
Participant or beneficiary shall under any circumstances acquire any
property interest in any specific assets of Quaker or a Trust.

Section 3.03.  The provisions of each Agreement and Trust shall determine
the time and manner of the distribution of benefits in the event of the
retirement, termination of employment, disability or death of a
Participant.


                                ARTICLE IV

                              Administration

Section 4.01.  The books and records to be maintained for the purpose of
the Plan shall be maintained by the officers and employees of Quaker and
the trustee of any Trust.  All expenses of administering the Plan or a
Trust shall be paid by Quaker either from funds set aside or earmarked
under the Plan or from other funds.

                           Exhibit 10(n) Page 2


Section 4.02.  To the extent permitted by law, the right of any Participant
or any beneficiary in any benefit or to any payment hereunder or pursuant
to a Deferred Compensation Agreement or Trust shall not be subject in any
manner to attachment or other legal process for the debts of such
Participant or beneficiary and any such benefit or payment shall not be
subject to anticipation, alienation, sale, transfer, assignment or
encumbrance.

Section 4.03.  No member of the Board and no officer or employee of the
Company shall be liable to any person for any action taken or omitted in
connection with the administration of the Plan unless attributable to his
own fraud or willful misconduct; nor shall Quaker be liable to any person
for any such action unless attributable to fraud or wilful misconduct on
the part of a director, officer or employee of Quaker.


                                 ARTICLE V

                             Amendment of Plan

       The Plan may be amended in whole or in part from time to time by the
Board; provided, however, that no such amendment shall effect the rights of
any Participant under any existing Agreement or Trust.

       IN WITNESS WHEREOF, Quaker Chemical Corporation has by its
appropriate officer, adopted this Plan on this 10th day of July, 1996.

                                    QUAKER CHEMICAL CORPORATION


                                    By:___________________________________


                           Exhibit 10(n) Page 3