OLIN SENIOR EXECUTIVE PENSION PLAN
(Restated as of September 1, 1995)
Article I. The Plan
1.1 Establishment of Plan. Olin Corporation (the "Company") hereby restates its Olin Senior Executive Pension
Plan, originally adopted by the Board of Directors on September 27, 1984. The Effective Date of this
restatement is September 1, 1995.
1.2 Purpose. The purpose of this Plan is to attract and retain a management group capable of assuring Olin's
future success by providing them with supplemental retirement income under this Plan. This Plan is intended to be
an unfunded, nonqualified deferred compensation plan for select management employees.
Article II. Eligibility
2.1 Participation. Any employee of the Company or its subsidiaries (collectively referred to as "Employing
Companies") whose job is rated at 2,000 Hay Points (or the equivalent) or more, and who is selected by the
Compensation Committee (prior to April 24, 1997, the Compensation and Nominating Committee), (referred to
in this Plan as the "Selection Committee"), shall participate in the Plan. As provided hereinafter, the Selection
Committee shall also have the power to remove any Participant from the Plan, whether or not he or she has
begun to receive benefits herefrom.
Article III. Benefits
3.1 Benefit Formula.
Upon retirement, as hereinafter provided, a Participant shall be entitled to receive an annual "Retirement
Allowance" equal to the lesser of
(a) and (b) below:
(a) three percent (3%) of the Participant's Average Compensation, multiplied by his Years of Benefit Service
credited while the employee was a Participant in this Plan, plus one and one-half percent (1/2%) of the
Participant's Average Compensation multiplied by his Years of Benefit Service credited under all qualified plans
of Olin Corporation or its affiliates while the employee was not a Participant in this Plan, provided that the
resulting percentage of Average Compensation shall be reduced by one-third of one percent (1/3%) f