THIRD AMENDMENT TO
PURCHASE AND CONTRIBUTION AGREEMENT
THIRD AMENDMENT, dated as of September 30, 2008 (this “ Amendment ”) among Olin
Funding Company LLC (the “ Purchaser ”), Olin Corporation (“ Parent ”), as Collection Agent and as a Seller
and Pioneer Americas LLC, a Delaware limited liability company (“ Pioneer ”), as a Seller.
WHEREAS, the Purchaser and the Parent, as Collection Agent and as a Seller are parties to that
certain Purchase and Contribution Agreement, dated as of July 25, 2007 (as amended, restated, modified or
supplemented from time to time, the “ PCA ”). Capitalized terms used but not otherwise defined herein shall
have the meanings ascribed to such terms in the PCA.
WHEREAS, the parties hereto wish to add Pioneer Americas LLC, a Delaware limited liability
company, to the PCA as a Seller.
WHEREAS, pursuant to Section 9.01 of the PCA, the parties hereto have agreed to amend the
PCA as described herein.
NOW THEREFORE, the parties hereto agree as follows:
Amendments to the PCA . Effective as of the date on which all of the conditions precedent
set forth in Section 3 hereof shall have been satisfied (the “ Effective Date ”), the PCA is hereby amended as
Schedule I is deleted and replaced with Schedule I hereto;
Exhibit B is deleted and replaced with Exhibit B hereto;
Exhibit E is deleted and replaced with Exhibit E hereto;
Exhibit F is deleted and replaced with Exhibit F hereto;
Pioneer Added as a Seller . Effective as of the Effective Date, Pioneer shall be a party to
the PCA, as a Seller, and shall have the rights and obligations of a Seller thereunder. Pioneer hereby agrees that
it shall perform all of the duties and obligations that are required to be performed by it, as a Seller, in accordance
with the terms of the PCA.
Effectiveness . This Amendment shall become effective as of the date hereof at such time