THIS ADMINISTRATIVE SETTLEMENT AGREEMENT AND ORDER ON CONSENT IS ENTERED INTO VOLUNTARILY BY THE UNITED STATES ENVIRONMENTAL PROTECTION AGENCY AND THE DOWN CHEMICAL COMPANY. THIS SETTLEMENT AGREEMENT PROVIDES FOR THE PERFORMANCE OF REMOVAL ACTIONS BY RESPONDENT AND THE REIMBURSEMENT OF CERTAIN RESPONSE COSTS INCURRED BY THE UNITED STATES AT OR IN CONNECTION WITH DIOXIN-CONTAMINATED SEDIMENTS IN THE SAGINAW RIVER LOCATED AT AN AREA APPROXIMATELY .5 MILES DOWNSTREAM OF THEN CONFLUENCE OF THE SHIAMWASSEE, AND TITTABAWASSEE RIVERS. THIS SETTLEMENT AGREEMENT IS ISSUED UNDER THE AUTHORITY VESTED IN THE PRESIDENT OF THE UNITED STATES BY SECTIONS 104, 106(A), 107 AND 122 OF THE COMPREHENSIVE ENVIRONMENTAL RESPONSE COMPENSATION AND LIABILITY ACT OF 1980.