CREDIT AGREEMENT

Dated as of May 28, 2003

Among

OMNOVA SOLUTIONS INC.

as the Borrower

THE FINANCIAL INSTITUTIONS NAMED HEREIN

as the Lenders

BANK ONE, NA

as the Agent

and

BANC ONE CAPITAL MARKETS, INC.

as the Lead Arranger and Sole Book Runner

TABLE OF CONTENTS

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ANNEXES, EXHIBITS AND SCHEDULES

SCHEDULE 1.2 LENDERS COMMITMENTS (ANNEX A DEFINED TERMS)

SCHEDULE 6.3 ORGANIZATION AND QUALIFICATIONS

SCHEDULE 6.5 SUBSIDIARIES AND AFFILIATES

SCHEDULE 6.9 DEBT

SCHEDULE 6.11 REAL ESTATE; LEASES; LIENS

SCHEDULE 6.12 PROPRIETARY RIGHTS

SCHEDULE 6.13 TRADE NAMES

SCHEDULE 6.14 LITIGATION

SCHEDULE 6.15 LABOR DISPUTES

SCHEDULE 6.16 ENVIRONMENTAL LAW

SCHEDULE 6.19 ERISA COMPLIANCE

SCHEDULE 6.26 MATERIAL AGREEMENTS

SCHEDULE 6.27 BANK ACCOUNTS

SCHEDULE 6.29 INSURANCE

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SCHEDULE 6.30 INACTIVE SUBSIDIARIES

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CREDIT AGREEMENT

This Credit Agreement, dated as of May 28, 2003, (this Agreement) among the financial institutions from time to time parties hereto (such financial institutions, together with their respective successors and assigns, are referred to hereinafter each individually as a Lender and collectively as the Lenders), Bank One, NA having its principal office at 120 S. LaSalle Street, Chicago, IL 60603, as agent for the Lenders (in its capacity as agent, the Agent), and OMNOVA Solutions Inc., an Ohio corporation, with offices at 175 Ghent Road, Fairlawn, Ohio 44333 (the Borrower).

W I T N E S S E T H:

WHEREAS, the Borrower has requested the Lenders to make available to the Borrower a revolving line of credit for loans and letters of credit in an amount not to exceed $100,000,000, which extensions of credit the Borrower will use for the purposes permitted hereunder;

WHEREAS, capitalized terms used in this Agreement and not otherwise defined herein shall have the meanings ascribed thereto in Annex A which is attached hereto and incorporated herein; the rules of construction contained therein shall govern the interpretation of this Agreement, and all Annexes, Exhibits and Schedules attached hereto are incorporated herein by reference;

WHEREAS, the Lenders have agreed to make available to the Borrower a revolving credit facility upon the terms and conditions set forth in this Agreement.

NOW, THEREFORE, in consideration of the mutual conditions and agreements set forth in this Agreement, and for good and valuable consideration, the receipt of which is hereby acknowledged, the Lenders, the Agent, and the Borrower hereby agree as follows.

ARTICLE 1

LOANS AND LETTERS OF CREDIT

1.1 Total Facility. Subject to all of the terms and conditions of this Agreement, the Lenders agree to make available a total credit facility of up to $100,000,000 (the Total Facility) to the Borrower from time to time during the term of this Agreement. The Total Facility shall be composed of a revolving line of credit consisting of Revolving Loans and Letters of Credit described herein.

1.2 Revolving Loans.

(a) (i) Amounts. Subject to the satisfaction of the conditions precedent set forth in Article 8, each Lender severally, but not jointly, agrees, upon the Borrowers request from time to time on any Business Day during the period from the Closing Date to the Termination Date, to make revolving loans, including, without duplication, Swing Line Loans (the Revolving Loans) to the Borrower in amounts not to exceed such Lenders Pro Rata Share of Availability, except for Agent Advances. The Lenders, however, in their unanimous discretion, may elect to make Revolving Loans or issue or arrange to have issued

Letters of Credit in excess of the Borrowing Base on one or more occasions, but if they do so, neither the Agent nor the Lenders shall be deemed thereby to have changed the limits of the Borrowing Base or to be obligated to exceed such limits on any other occasion. If any Borrowing would exceed Availability, the Lenders may refuse to make or may otherwise restrict the making of Revolving Loans as the Lenders determine until such excess has been eliminated, subject to the Agents authority, in its sole discretion, to make Agent Advances pursuant to the terms of Section 1.2(i).

(ii) Borrower shall execute and deliver to each Lender a note to evidence the Revolving Loan of that Lender. Each note shall be in the principal amount of the Lenders Pro Rata Share of the Revolving Loan Commitments, dated the date hereof and substantially in the form of Exhibit A-1 (each a Revolving Loan Note and, collectively, the Revolving Loan Notes). Each Revolving Loan Note shall represent the obligation of Borrower to pay the amount of Lenders Pro Rata Share of the Revolving Loan Commitments, or, if less, such Lenders Pro Rata Share of the aggregate unpaid principal amount of all Revolving Loans to Borrower together with interest thereon as prescribed in Section 1.2. The entire unpaid balance of the Revolving Loan and all other non-contingent Obligations shall be immediately due and payable in full in immediately available funds on the Termination Date.

(b) Procedure for Borrowing.

(1) Each Borrowing shall be made upon the Borrowers irrevocable written notice delivered to the Agent in the form of a notice of borrowing (Notice of Borrowing), which must be received by the Agent prior to (i) 12:00 noon (Chicago time) three Business Days prior to the requested Funding Date, in the case of Eurodollar Revolving Loans and (ii) 11:00 a.m. (Chicago time) on the requested Funding Date, in the case of Alternate Base Rate Revolving Loans, specifying:

(A) the amount of the Borrowing, which in the case of a Eurodollar Revolving Loan must equal or exceed $5,000,000 (and increments of $1,000,000 in excess of such amount) and which in the case of Alternate Base Rate Revolving Loans must equal o