We present new {\it Chandra} observations of the radio galaxy 3C 445,
centered on its southern radio hotspot. Our observations detect X-ray emission
displaced upstream and to the west of the radio-optical hotspot. Attempting to
reproduce both the observed spectral energy distribution (SED) and the
displacement, excludes all one zone models. Modeling of the radio-optical
hotspot spectrum suggests that the electron distribution has a low energy
cutoff or break approximately at the proton rest mass energy. The X-rays could
be due to external Compton scattering of the cosmic microwave background
(EC/CMB) coming from the fast (Lorentz factor Γ≈4) part of a
decelerating flow, but this requires a small angle between the jet velocity and
the observer's line of sight (θ≈14∘). Alternatively, the
X-ray emission can be synchrotron from a separate population of electrons. This
last interpretation does not require the X-ray emission to be beamed.Comment: 9 pages, 5 figures, ApJ, in pres