0001305014-08-000364 Sample Contracts

RESTRICTED STOCK AGREEMENT
Restricted Stock Agreement • November 26th, 2008 • Ashland Inc. • Wholesale-chemicals & allied products

WHEREAS, Ashland Inc. (hereinafter called “Ashland”) desires to award to the above-named Participant (hereinafter called the “Participant”), x,xxx shares of Ashland Common Stock, par value $0.01 per share, subject to certain restrictions (hereinafter called “Restricted Stock”), pursuant to the 2006 Ashland Inc. Incentive Plan (hereinafter called the “Plan”), in order to provide the Participant with an additional incentive to continue his/her services to Ashland and to continue to work for the best interests of Ashland;

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Term Sheet for Mr. Paul Raymond
Employment Agreement • November 26th, 2008 • Ashland Inc. • Wholesale-chemicals & allied products • Ohio
EMPLOYMENT AGREEMENT
Employment Agreement • November 26th, 2008 • Ashland Inc. • Wholesale-chemicals & allied products • Ohio

THIS EMPLOYMENT AGREEMENT (the “Agreement”), dated this 8 day of July 2008, is between Ashland Inc., a Kentucky corporation (“Ashland”), having its principal place of business at 50 E. RiverCenter Boulevard, Covington, KY 41011 and John E. Panichella (“Employee”).

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