7/28/04 - AGREEMENT AND SETTLEMENT FOR EPA OVERSIGHT COSTS AND RESPONSE COSTS COVERED BY SETTLING PARTIES' 106(b) PETITION. PROCEEDING UNDER SECTION 122(h)(1) OF CERCLA. RESPONDENT HERCULES WILL RECEIVE A NON-REFUNDABLE CREDIT, IN THE AMOUNT OF $967,918.24 FOR THE REMAINING COSTS INCURRED BY HERCULES AT THE VALLEY CHEMICAL SITE. THE AMOUNT OF UNPAID RESPONSE AND/OR OVERSIGHT COSTS THAT EPA ALLEGES HERCULES PRESENTLY OWES AT THE T.H. AGRICULTURE, TERRY CREEK AND HERCULES 009 LANDFILL SITES APPROXIMATES THE NON-REFUNDABLE CREDIT OF $967,918.24 FROM EPA TO RESOLVE HERCULES' PENDING 106(b) PETITION FILED FOR THE VALLEY CHEMICAL SITE. HENCE, THIS AGREEMENT DOES NOT INVOLVE THE EXCHANGE OF ANY MONEY BETWEEN HERCULES AND EPA. INSTEAD, THE RESPONSE AND OVERSIGHT COSTS, TOTALLYING $967,918.24, WILL BE DEEMED TO BE PAID IN FULLY BY HERCULES. THIS AGREEMEN TALSO PROVIDES FOR THE DISMISSAL WITH PREJUDICE OF HERCULES' 106(b) PETITION FOR THE VALLEY CHEMICAL SITE. NOR-AM IS A PARTY TO THIS AGREEMENT BECAUSE IT HAS AGREE WITH HERCULES TO FUN A PORTION OF THE REMOVAL AT THE VALLEY CHEMICAL SITE.