2006 LONG TERM INCENTIVE PLAN
(Codified as of October 22, 2008)
The general purposes of the Olin Corporation 2006 Long Term Incentive Plan (the “Plan”) are to (i) attract and
retain persons eligible to participate in the Plan; (ii) motivate Participants, by means of appropriate incentives, to
achieve long-range goals; (iii) provide incentive compensation opportunities that are competitive with those of
other similar companies; and (iv) further align Participants’ interests with those of other shareholders of Olin
Corporation (together with any successor, “Olin”) through compensation that is based on Olin’s common stock;
and thereby promote the long-term financial interest of Olin and its Affiliates, including growth in the value of
Olin’s equity and enhancement of long-term shareholder return.
As used in the Plan:
“Affiliate” means any corporation, partnership, joint venture or other entity during any period in
which Olin owns, directly or indirectly, at least 50% of the total voting or profits interest.
“Award” means any Option, Stock Appreciation Right, Restricted Stock, Restricted Stock Unit,
Performance Share or Dividend Equivalent granted under the Plan.
“Award Agreement” means any written agreement or other instrument or document evidencing an
Award granted under the Plan. The terms of any plan or guideline adopted by the Board or the Committee and
applicable to an Award shall be deemed incorporated in and a part of the related Award Agreement.
“Board” means the Board of Directors of Olin.
“Code” means the Internal Revenue Code of 1986, as amended. A reference to any provision of
the Code shall include reference to any successor provision of the Code.
“Committee” means a committee of the Board designated by the Board to administer the Plan,
each member of which is an “outside director” for purposes of Secti