EXHIBIT 10(G)
 
                                     Date:
 
Olin Corporation 120 Long Ridge Road Stamford, CT 06904
 
Attention: Secretary
 
  In accordance with the resolution regarding Directors' deferred compensation
adopted by the Board of Directors of Olin Corporation ("Olin") at the March 31,
1977 meeting, as amended by the Board on February 26, 1981, I hereby elect to
defer of my Director's annual fee and attendance fees as provided in such
resolution, such deferral to be effective as to all such fees accruing after
the date hereof until termination by Olin or me of this election as to future
fees.
 
  In connection with such deferral, you are instructed as follows:
 
  1.   I wish to defer payment of all such fees until the following date
       ("deferral period"):
 
    [_] the earlier of my death or termination of my service as a Director of
      Olin.
 
    [_] the earlier of my death or
 
     _____________________________________________________________________ .
 
  2.   I wish to have the amount so deferred, together with deferred interest
       credited thereon, paid on an annual basis:
 
    [_] over a period of     year following the deferral period;
 
    [_] over a period equal to one year for each year or part thereof I shall
      have served as an Olin Director when the deferral period ends.
 
  3.   I wish to have the amount so deferred, together with such deferred
       interest, paid to me or in the event of my death to
 
     _____________________________________________________________________ .
                         (Named Beneficiary or Estate)
 
  No change in these instructions can be made unless it is made in a year prior
to the year in which payment would otherwise commence, except that I can change
any beneficiary designated in Item 3 by a notice in writing to the Secretary of
Olin.
 
  I understand that if the deferral period ends in the first six months of a
year, the first installment of deferred amounts will be paid on July 15 of that
year and remaining installments on July 15 of each year thereafter; if such
period ends in the last six months of a year, the first installment will be
paid on January 15 of the following year and remaining installments on January
15 of each year thereafter.
 
                                           ____________________________________
                                                        Director