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OMB APPROVAL
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OMB Number 3235-0104
Expires: April 30, 1997
Estimated average burden
hours per response ....... 0.5
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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 3
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
Carmean C. William
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(Last) (First) (Middle)
Millennium Chemicals Inc. 99 Wood Avenue South
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(Street)
Iselin NJ 08830
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(City) (State) (Zip)
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2. Date of Event Requiring Statement (Month/Day/Year)
12/12/97
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Issuer Name and Ticker or Trading Symbol
Millennium Chemicals Inc. (MCH)
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5 Relationship of Reporting Person to Issuer
(Check all applicable)
[ ] Director [ ] 10% Owner
[ X ] Officer (give title below) [ ] Other (specify below)
Vice President - Legal
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6. If Amendment, Date of Original (Month/Year)
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Table I -- Non-Derivative Securities Beneficially Owned
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<TABLE>
<CAPTION>
3. Ownership Form:
2. Amount of Securities Direct (D) or
1. Title of Security Beneficially Owned Indirect (I) 4. Nature of Indirect Beneficial Ownership
(Instr. 4) (Instr. 4) (Instr. 5) (Instr.5)
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<S> <C> <C> <C>
Common Stock $0.01 Par Value Per Share 0 D
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Common Stock $0.01 Par Value Per Share 471 I (1) 401(k)
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Common Stock $0.01 Par Value Per Share 17,922 D (2)
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</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
(Print or Type Responses)
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FORM 3 (continued)
Table II -- Derivative Securities Beneficially Owned (e.g., puts,
calls, warrants, options, convertible securities)
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<TABLE>
<CAPTION>
5. Owner-
3. Title and Amount of Securities ship
Underlying Derivative Security Form of
2. Date Exercisable (Instr. 4) Derivative
and Expiration Date --------------------------------- 4. Conver- Security:
(Month/Day/Year) Amount sion or Direct 7. Nature of
---------------------- or Exercise (D) or Indirect
Date Expira- Number Price of Indirect Beneficial
1. Title of Security Exer- tion of Derivative (I) Ownership
(Instr. 4) cisable Date Title Shares Security (Instr.5) (Instr. 5)
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<S> <C> <C> <C> <C> <C> <C> <C>
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</TABLE>
Explanation of Responses:
1. Represents the value of the Reporting Person's Stock Fund Account in the
Company's 401(k) plan as of November 30, 1997, expressed as share
equivalents. As of such date 95.94% of such fund was invested in Company
Common Stock, and the remainder was invested in cash.
2. Represents shares of restricted stock granted to the Reporting Person on
December 12, 1997 under the Issuer's Long-Term Stock Incentive Plan as
follows: (i) 4,480 shares which will vest in equal installments on
October 8, 1999, 2000 and 2001, and (ii) 13,442 shares which may vest in
equal installments on December 31, 1999, 2000 and 2001 subject to the
achievement of performance goals based on a cash flow return on investment
formula, 50% of which will be distributed upon vesting and 50% of which will
be distributed over a five-year period commencing on the date of vesting.
C. William Carmean January 12, 1998
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**Signature of Reporting Person Date
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient. See Instruction 6 for procedure.
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