Exhibit 10.21(e)
EXTENSION AGREEMENT
Arch Chemicals, Inc.
501 Merritt 7
Norwalk, Connecticut 06856
Attention: Mr. W. Paul Bush
JPMorgan Chase Bank, as Administrative Agent
under the 364-Day Credit Agreement referred to below
270 Park Avenue
New York, New York 10017
January 22, 2003
Gentlemen:
Each undersigned Lender hereby agrees to extend, effective on January
22, 2003 (the "Extension Date"), the Maturity Date under the 364-Day Credit
Agreement dated as of January 27, 1999 (as extended on January 26, 2000, January
24, 2001 and January 23, 2002 and as the same may be amended, supplemented or
otherwise modified from time to time, the "364-Day Credit Agreement") among Arch
Chemicals, Inc., Olin Corporation, the Lenders and agents party thereto and
JPMorgan Chase Bank, as Administrative Agent for the Lenders, to January 21,
2004. Terms defined in the 364-Day Credit Agreement are used herein as therein
defined.
Each undersigned Lender hereby acknowledges that the amount of its
commitment under the 364-Day Credit Agreement listed on the Commitment Schedule
attached hereto as Annex A is correct as of the date hereof.
It is acknowledged that immediately following the effectiveness of this
Agreement on January 22, 2003, the 364-Day Credit Agreement is being amended to
change the Maturity Date to June 21, 2003.
This Agreement may be executed by one or more of the parties to this
Agreement on any number of separate counterparts, and all of said counterparts
taken together shall be deemed to constitute one and the same instrument.
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This Extension Agreement shall be governed by and construed in
accordance with the laws of the State of New York.
JPMORGAN CHASE BANK,
individually and as Administrative Agent,
By: /s/ Lawrence Palumbo Jr.
-------------------------
Name: Lawrence Palumbo Jr.
Title: Vice President
WACHOVIA BANK, N.A.,
individually and as Documentation Agent,
By:
-----------------------
Name:
Title:
BANK OF AMERICA, N.A.,
individually and as Syndication Agent,
By: /s/ Donald J. Chin
--------------------
Name: Donald J. Chin
Title: Managing Director
THE BANK OF NEW YORK
By: /s/ Joanna S. Bellocq
-----------------------
Name: Joanna S. Bellocq
Title: Vice President
PNC BANK, NATIONAL ASSOCIATION
By: /s/ Donald V. Davis
----------------------
Name: Donald V. Davis
Title: Vice President
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ING (US) CAPITAL LLC
By:
-----------------------
Name:
Title:
By:
-----------------------
Name:
Title:
CITIZENS BANK OF MASSACHUSETTS
By: /s/ Cindy Chen
-----------------
Name: Cindy Chen
Title: Vice President
THE NORTHERN TRUST COMPANY
By: /s/ Russ Rockenbach
----------------------
Name: Russ Rockenbach
Title: Vice President
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Agreed and accepted:
ARCH CHEMICALS, INC.
By: /s/ W. Paul Bush
---------------------------------
Name: W. Paul Bush
Title: Vice President & Treasurer
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Annex A
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Commitment Schedule
- ------------------------------------------------------------------------------
| Lender | Commitment Amount |
| | |
|-------------------------------------------------------|---------------------|
|-------------------------------------------------------|---------------------|
| JPMorgan Chase Bank | $15,000,000 |
|-------------------------------------------------------|---------------------|
|-------------------------------------------------------|---------------------|
| Bank of America, N.A. | $15,000,000 |
|-------------------------------------------------------|---------------------|
|-------------------------------------------------------|---------------------|
| The Bank of New York | $10,000,000 |
|-------------------------------------------------------|---------------------|
|-------------------------------------------------------|---------------------|
| PNC Bank, National Association | $10,000,000 |
|-------------------------------------------------------|---------------------|
|-------------------------------------------------------|---------------------|
| Citizens Bank of Massachusetts | $ 7,500,000 |
|-------------------------------------------------------|---------------------|
|-------------------------------------------------------|---------------------|
| The Northern Trust Company | $ 7,500,000 |
|-------------------------------------------------------|---------------------|
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