Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Chemtura Corporation entered into a Separation Agreement and General Release, dated as of January 19, 2009 (executed February 4, 2009), with Mr. Lynn A. Schefsky, Esq., formerly Senior Vice President, General Counsel and Secretary (the "Schefsky Agreement"). The Schefsky Agreement defines severance payments and benefits to be paid to Mr. Schefsky summarized as follows: periodic separation pay equal to 52 weeks of his base salary at the current annual rate of $371,000 ending by January 31, 2010, and if not employed or engaged in self-employment on or prior to February 1, 2010, then Mr. Schefsky shall receive 26 weeks of his base salary; Mr. Schefsky will continue to be eligible for benefits, if any, under the Chemtura Corporation 2008 Management Incentive Program, and certain other benefits including the ability of Mr. Schefsky and his eligible dependents to participate in Company plans providing medical, dental and vision benefits for a period. Mr. Schefsky is prohibited from, among other things, soliciting the Company's employees, customers and others with a business relationship with the Chemtura Corporation for a period of one (1) year. Mr. Schefsky's participation in the Company's savings and supplemental savings plans terminated as of his date of separation. A copy of the Schefsky Agreement is attached hereto as Exhibit 99.1 and is incorporated by reference herein.

Item 9.01 Financial Statements and Exhibits

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(d) Exhibits

Exhibit Number Exhibit Description

99.1 Schefsky Agreement