EX-10.11



 Exhibit 10.11 

EMPLOYMENT AGREEMENT 

This EMPLOYMENT AGREEMENT (this “Agreement”) is entered into as of
             (the “Effective Date”), by and between Versum Materials, Inc., a Delaware corporation (the “Company”) and
            (the “Executive”); 
 WHEREAS, the Company desires
to employ Executive as its             pursuant to the terms of this Agreement; 

WHEREAS, Executive desires to be so employed. 

WHEREAS, the parties hereto desire to enter into this Agreement to provide for the employment of the Employee by the Employer and for certain
other matters in connection with such employment, all as more fully set forth in this Agreement. 
 NOW, THEREFORE, in consideration of the
premises and covenants set forth herein, and intending to be legally bound hereby, the parties to this Agreement hereby agree as follows: 

1. Employment; Term. The Company agrees to employ the Executive, and the Executive agrees to serve in the employ of the Company,
in the position and with the responsibilities, duties and authority set forth in Section 2 and on the other terms and conditions set forth in this Agreement. The Executive’s employment shall constitute “at will”
employment. Subject to Section 7, the Executive’s employment may be terminated at any time and for any reason. Certain rights and obligations of the Executive and the Company shall survive the termination of Executive’s
employment, as set forth in this Agreement. 
 2. Position, Duties. The Executive shall serve in the position of
            of the Company. The Executive shall perform, faithfully and diligently, such service and duties, and shall have such responsibilities, appropriate to said position, as
shall be assigned to him. The Executive shall report directly to the Chief Executive Officer of the Company. The Executive agrees to devote his entire business time, best efforts, skills and attention to fulfilling the performance of his
duties and responsibilities hereunder. The Executive shall be based in             , except for travel required by Company business. Nothing set forth herein shall prohibit the
Executive from engaging in personal investing activities or, upon the prior written approval of the Board, serving on the boards of directors of other entities whose businesses are not competitive with the Company, provided that such
activities do not interfere in any material respect with the services to be provided by the Executive under this Agreement. 
 3.
Salary. In consideration of the performance by the Executive of the services set forth in Section 2 and his observance of the other covenants set forth herein, the Company shall pay to the Executive, and the Executive shall accept,
a base salary at the rate of $            per annum, payable in accordance with the standard payroll practices of the Company. The Executive’s salary shall be reviewed at least
annually for potential increase, in accordance with the Company’s practice in the U.S. 
 4. Bonus. During the employment
term, the Executive will be eligible to earn an annual bonus award (“Annual Bonus”), with a target bonus amount equal to     % of Executive’s Base Salary (the “Target Bonus”) based upon the achievement of
performance goals 







 
established by the Board. All Annual Bonus amounts shall be determined and paid in accordance with the terms and conditions of the Company’s annual incentive plan or policy. In
addition, the Executive will be eligible to participate in the Company’s long-term incentive plans available to senior executives of the Company in accordance with the terms and conditions of such plans, as in effect from time to time. 

In the event the Company is required to prepare a restatement of its financial results for a fiscal year and the Board in good faith
determines that the need for such restatement would require reduction, cancellation, forfeiture, or recoupment of an Annual Bonus, Executive shall, within 60 days of receiving notice of such Board determination (which notice shall state the reasons
for the need for the restatement, identify the misconduct and include calculations of the impact thereof), reimburse the Company, net of taxes, for all excess remuneration (as defined below) received by Executive in connection with the Annual Bonus
received by Executive with respect to such fiscal year. For purposes of this provision, the term “excess remuneration” means the excess of the Annual Bonus payment made to Executive for such fiscal year over the payment that would
have been made to Executive for such fiscal year had Executive’s payment been calculated based on the financial statements as restated, as determined in the good faith discretion of the Board. All Annual Bonus awards shall be subject to
reduction, cancellation, forfeiture or recoupment to the extent necessary to comply with (i) any clawback, forfeiture or other similar policy adopted by the Board or the Compensation Committee and as in effect from time to time; and
(ii) applicable law. 
 5. Expense Reimbursement. During the employment term, the Company shall reimburse the Executive for
all reasonable and necessary out-of-pocket expenses incurred by him in connection with the performance of his duties hereunder, upon the presentation of proper accounts therefor in accordance with the Company’s policies (but in no event later
than the last day of the calendar year next following the calendar year in which the expenses were incurred). 
 6. Benefits. 

6.1 Generally. During the employment term, the Executive will be eligible to participate in all benefit plans and programs
offered by the Company from time to time to its employees of comparable seniority, subject to the terms and conditions of such plans and programs as in effect from time to time. Such plans and programs currently include the following: 

(i) Health Care Benefits (medical, pharmaceutical, dental and vision), 

(ii) Short-Term and Long-Term Disability Plans, 

(iii) Life and Accident Plan, 

(iv) Health Care and Dependent Care Reimbursement Account, including Health Savings Accounts, 

(v) Personal Excess Liability Insurance Program, if available, 

(vi) Retirement Savings Plan, and 







 (vii) Non-Qualified Savings Plan or Deferred Compensation Plan. 

6.2 Vacation. During the employment term, the Executive shall be entitled to up to [four (4)]1 weeks’ vacation on an annual basis, which must be used in the year granted and not carried over from year to year. Paid holidays may be taken in accordance with the holiday policy and
schedule of the Company as from time to time in effect. 
 6.3 Fringe Benefits. The Executive shall be entitled to participate
in all insurance and other fringe benefit programs of the Company to the extent and on the same terms and conditions as are accorded to other officers and key employees of the Company. 

6.4 Equity Compensation. The Executive shall be eligible to participate in the Versum Materials, Inc. Long-Term Incentive Plan.

 6.5 Entire Compensation. The compensation and benefits provided for in this Agreement shall constitute full payment for the
services to be rendered by the Executive to the Company hereunder. 
 7. Termination of Employment. 

7.1 Death. In the event of the death of the Executive, the Company shall pay to the estate or other legal representative of
the Executive, within ninety (90) days of the Executive’s death, (i) the salary accrued to the date of the Executive’s death and not theretofore paid and (ii) any earned but unpaid Annual Bonus for the fiscal year preceding
the fiscal year in which such termination occurs. In addition, the Company shall pay to the estate or other legal representative of the Executive a lump sum, pro rata portion of any Annual Bonus that Executive would have been entitled to receive
pursuant to Section 4 for the fiscal year in which such termination occurs, based upon the percentage of the fiscal year that shall have elapsed through the date of Executive’s termination of employment, calculated on the actual
performance for the fiscal year in which termination occurs (the “Pro-Rata Bonus”), payable when such Annual Bonus would have otherwise been payable had Executive’s employment not terminated. Rights and benefits of the estate or
other legal representative of the Executive under the benefit plans and programs of the Company shall be determined in accordance with the terms and conditions of such plans and programs. Neither the estate nor other legal representative of the
Executive nor the Company shall have any further rights or obligations under this Agreement except as provided in this Section 7.1. 

7.2 Disability. Upon Executive’s permanent disability, the Company shall have the right to terminate Executive’s
employment with the Company hereunder immediately with written notice. For these purposes, “permanent disability” shall mean the Executive failing to perform his duties on a full-time basis for a period of more than six
(6) consecutive months during any 12-month period due to a physical or mental disability or infirmity, as determined by the Board and supported by the opinion of a physician. The Executive shall fully cooperate with the physician retained to
furnish such opinion, including submitting to such examinations and tests as may be requested by the physician. Notwithstanding the foregoing, in the event that as a result of mental or physical incapacity Executive earlier incurs a
“separation from service” 
  

	1 	 Will be adjusted for each Agreement. 









 within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended
(“Section 409A”), Executive will be deemed to have a termination of employment by reason of permanent disability under this Agreement. In the event of Executive’s termination by reason of permanent disability, the Company
shall pay to the Executive, within ninety (90) days of the Executive’s termination, (i) the salary accrued to the date of such termination and not theretofore paid and (ii) any earned but unpaid Annual Bonus for the fiscal year
preceding the fiscal year in which such termination occurs. In addition, the Company shall pay to the Executive the Pro-Rata Bonus, payable when such Annual Bonus would have otherwise been payable had Executive’s employment not
terminated. Rights and benefits of the Executive under the benefit plans and programs of the Company shall be determined in accordance with the terms and conditions of such plans and programs. Neither the Executive nor the Company shall have
any further rights or obligations under this Agreement, except as provided in this Section 7.2 and Section 8. 
 7.3
Termination by the Company For Cause. If the Company terminates the Executive’s employment for Cause (as defined in Section 9(a)), the Company shall pay to the Executive, within ninety (90) days of the
Executive’s termination, the salary accrued to the date of termination and not theretofore paid and any earned but unpaid Annual Bonus for the fiscal year preceding the fiscal year in which such termination occurs. Executive will not be
entitled to the Pro-Rata Bonus. Rights and benefits of the Executive under the benefit plans and programs of the Company shall be determined in accordance with the terms and conditions of such plans and programs. Neither the Executive nor
the Company shall have any further rights or obligations under this Agreement, except as provided in this Section 7.3 and Section 8. 

7.4 Termination by the Company Without Cause Prior to a Change in Control. If the Company terminates the Executive’s
employment prior to a Change in Control (as defined in Section 9(c)), other than pursuant to Section 7.1 (Death), 7.2 (Disability), or 7.3 (Cause), the Company shall pay to the Executive, within ninety (90) days of the
Executive’s termination, the salary accrued to the date of termination and not theretofore paid to the Executive and any earned but unpaid Annual Bonus for the fiscal year preceding the fiscal year in which such termination occurs. In
addition, Executive shall be entitled to receive a lump sum pro rata portion of the Annual Bonus, if any, that Executive would have been entitled to receive pursuant to Section 4 hereof for the fiscal year in which such termination occurs (but
only to the extent of achievement of the applicable performance standards for such year) based upon the percentage of the fiscal year that shall have elapsed through the date of Executive’s termination of employment, payable when such Annual
Bonus would have otherwise been payable had Executive’s employment not terminated; provided, however, that to the extent the Annual Bonus is subject to the exercise of negative discretion, such discretion shall not be exercised to reduce
Executive’s Annual Bonus by a greater percentage than is applied generally to senior executives subject to such discretion. In addition, subject to Executive’s compliance with the provisions of Section 8 and in lieu of any
severance otherwise payable to Executive under any severance plan or policy maintained by the Company, the Company shall: 
 (i) pay to
Executive for the duration of the Severance Period (as defined below) a monthly amount, in accordance with the Company’s normal payroll practice, equal to the sum of (x) his monthly base salary and (y) 1/12th of his average Annual Bonus paid with respect to the last three fiscal years ending immediately prior to his termination of 







 
employment. For the purposes of calculating the three-year average Annual Bonus, the following shall apply: i) for each such previous year, the most recent target bonus percentage; the most
recent salary and the actual performance payout factor for such preceding fiscal years shall be used; ii) for any years that such bonus amount or bonus percentage is not available, the target bonus or percentage based upon the most recent target
percentage shall be used; and iii) for any partial bonus years within the three preceding completed fiscal years, such bonus year shall be adjusted as if the full year bonus was earned using the most recent target percentage (the “Average Bonus
Calculation Principles”). The Severance Period shall be             months (the “Severance Period”); 

(ii) continue payment of Executive’s Health Care Benefits under COBRA until the earlier of (x) the date on which Executive’s
COBRA eligibility ceases, or (y) the twelve (12) month anniversary of Executive’s termination of employment; 
 (iii) pay a
lump-sum amount of $20,000 for outplacement services, which shall be paid within 60 days of Executive’s termination of employment; 

(iv) pay to the Executive, at the end of the twelve (12) month period following termination of employment, an amount equal to the
maximum amount that the Company would have been obligated to contribute on his behalf as matching contributions to the Company’s qualified and non-qualified retirement plans for such twelve (12) month period, based on the Executive’s
most recent deferral elections with respect to such plans, plus the maximum amount that the Company would have been obligated to contribute on his behalf as non-elective contributions to the Company’s qualified and non-qualified retirement
plans for such twelve (12) month period, based on his salary in effect immediately prior to his termination of employment, in each case to the extent such amounts would have been vested at the end of the twelve (12) month period under the
terms of such plans had he remained in employment for such period. 
 The rights and benefits of the Executive under the benefit plans and
programs of the Company (other than any severance plan or policy) shall be determined in accordance with the terms and conditions of such plans and programs. Neither the Executive nor the Company shall have any further rights or obligations
under this Agreement, except as provided in this Section 7.4 and Section 8. 
 7.5 Termination by Executive With Good Reason
Prior to a Change in Control. If, prior to a Change in Control, the Executive terminates his employment with the Company within sixty (60) days of the occurrence of an event giving rise to Good Reason (as defined in
Section 9(b)), the Company shall pay to the Executive, within ninety (90) days of the Executive’s termination, the salary accrued to the date of termination and not theretofore paid to the Executive and any earned but unpaid Annual
Bonus for the fiscal year preceding the fiscal year in which such termination occurs. In addition, Executive shall be entitled to receive a lump sum pro rata portion of the Annual Bonus, if any, that Executive would have been entitled to
receive pursuant to Section 4 hereof for the fiscal year in which such termination occurs (but 







 
only to the extent of achievement of the applicable performance standards for such year) based upon the percentage of the fiscal year that shall have elapsed through the date of Executive’s
termination of employment, payable when such Annual Bonus would have otherwise been payable had Executive’s employment not terminated; provided, however, that to the extent the Annual Bonus is subject to the exercise of negative discretion,
such discretion shall not be exercised to reduce Executive’s Annual Bonus by a greater percentage than is applied generally to senior executives subject to such discretion. In addition, subject to Executive’s compliance with the
provisions of Section 8 and in lieu of any severance otherwise payable to Executive under any severance plan or policy maintained by the Company, the Company shall: 

(i) pay to Executive for the duration of the Severance Period a monthly amount, in accordance with the Company’s normal payroll practice,
equal to the sum of (x) his monthly base salary at the rate in effect immediately prior to Executive’s termination of employment (or, if higher, at the rate in effect immediately prior to the event giving rise to the Good Reason condition)
and (y) 1/12th of his average Annual Bonus paid with respect to the last three fiscal years ending immediately prior to his termination of employment. For the purposes of calculating the
three-year average Annual Bonus, the calculation shall be based upon the Average Bonus Calculation Principles set forth above.; 
 (ii)
continue payment of Executive’s Health Care Benefits under COBRA until the earlier of (x) the date on which Executive’s COBRA eligibility ceases, or (y) the twelve (12) month anniversary of Executive’s termination of
employment; 
 (iii) pay, a lump-sum amount of $20,000 for outplacement services, which shall be paid within 60 days of Executive’s
termination of employment; 
 (iv) pay to the Executive, at the end of the twelve (12) month period following termination of
employment, an amount equal to the maximum amount that the Company would have been obligated to contribute on his behalf as matching contributions to the Company’s qualified and non-qualified retirement plans for such twelve (12) month
period, based on the Executive’s most recent deferral elections with respect to such plans, plus the maximum amount that the Company would have been obligated to contribute on his behalf as non-elective contributions to the Company’s
qualified and non-qualified retirement plans for such twelve (12) month period, based on his salary in effect immediately prior to his termination of employment (or, if higher, at the rate in effect immediately prior to the event giving rise to
the Good Reason condition), in each case to the extent such amounts would have been vested at the end of the twelve (12) month period under the terms of such plans had he remained in employment for such period; 

The rights and benefits of the Executive under the benefit plans and programs of the Company (other than any severance plan or policy) shall
be determined in accordance with the terms and conditions of such plans and programs. Neither the Executive nor the Company shall have any further rights or obligations under this Agreement, except as provided in this Section 7.5 and
Section 8. 
 7.6 Termination by the Company Without Cause or Termination by Executive With Good Reason Following a Change in
Control. If, following the occurrence of a Change in 







 
Control, the Company (or successor) terminates the Executive’s employment other than pursuant to Section 7.1 (Death), 7.2 (Disability), or 7.3 (Cause), or the Executive terminates his
employment within sixty (60) days of the occurrence of an event giving rise to Good Reason, the Company (or successor) shall pay to the Executive, within sixty (60) days of the Executive’s termination, the salary accrued to the date
of termination and not theretofore paid to the Executive and any earned but unpaid Annual Bonus for the fiscal year preceding the fiscal year in which such termination occurs. In addition, Executive shall be entitled to receive a lump sum pro
rata portion of the Annual Bonus, if any, that Executive would have been entitled to receive pursuant to Section 4 hereof for the fiscal year in which such termination occurs (but only to the extent of achievement of the applicable performance
standards for such year) based upon the percentage of the fiscal year that shall have elapsed through the date of Executive’s termination of employment, payable when such Annual Bonus would have otherwise been payable had Executive’s
employment not terminated; provided, however, that to the extent the Annual Bonus is subject to the exercise of negative discretion, such discretion shall not be exercised to reduce Executive’s Annual Bonus by a greater percentage than is
applied generally to senior executives subject to such discretion. In addition, subject to Executive’s compliance with the provisions of Section 8 and in lieu of any severance otherwise payable to Executive under any severance plan or
policy maintained by the Company, the Company (or successor) shall: 
 (i) pay the Executive, within sixty (60) days of termination, a
cash lump sum payment in an amount equal to the number of months (including partial months) in the Severance Period multiplied by the sum of (x) his monthly base salary at the rate in effect immediately prior to Executive’s termination of
employment (or, if higher, at the rate in effect immediately prior to the event giving rise to the Good Reason condition) and (y) 1/12th of his average Annual Bonus paid with respect to the
last three fiscal years ending immediately prior to his termination of employment. For the purposes of calculating the three-year average Annual Bonus, the calculation shall be based upon the Average Bonus Calculation Principles set forth above ;

 (ii) continue payment of Executive’s Health Care Benefits under COBRA until the earlier of (x) the date on which
Executive’s COBRA eligibility ceases, or (y) the twelve (12) month anniversary of Executive’s termination of employment; 

(iii) pay, a lump-sum amount of $20,000 for outplacement services, which shall be paid within 60 days of Executive’s termination of
employment; and 
 (iv) pay to the Executive, at the end of the twelve (12) month period following termination of employment, an amount
equal to the maximum amount that the Company (or successor) would have been obligated to contribute on his behalf as matching contributions to the Company’s (or successor’s) qualified and non-qualified retirement plans for such twelve
(12) month period, based on the Executive’s most recent deferral elections with respect to such plans, plus the maximum amount that the Company (or successor) would have been obligated to contribute on his behalf as non-elective
contributions to the Company’s (or successor’s) qualified and non-qualified retirement plans for such twelve (12) month period, based on his salary in effect immediately prior to his termination of employment (or, if higher, at the
rate in effect immediately prior to the event giving rise to the Good Reason condition), in 







 
each case to the extent such amounts would have been vested at the end of the twelve (12) month period under the terms of such plans had he remained in employment for such period. 

Notwithstanding the foregoing provisions of this Section 7.6, if the Change in Control fails to qualify as a “change of
control” for purposes of Section 409A of the Internal Revenue Code or if Section 409A otherwise so requires, the accrued and unpaid salary and Annual Bonus referred to in the first paragraph of this Section 7.6 shall be paid
within ninety (90) days of the Executive’s termination, and the amounts described in clauses (x) and (y) of clause (i) of this Section 7.6 shall be paid monthly, in accordance with the company’s normal payroll
practice, for the duration of the Severance Period. 
 The rights and benefits of the Executive under the benefit plans and programs of the
Company (other than any severance plan or policy) shall be determined in accordance with the terms and conditions of such plans and programs. Neither the Executive nor the Company shall have any further rights or obligations under this
Agreement, except as provided in this Section 7.6 and Section 8. 
 For the avoidance of doubt, it is understood and agreed that
if a Change of Control occurs after the Executive’s termination of employment and his termination was not in anticipation of such Change of Control, the provisions of this Section 7.6 shall not apply. 

7.7 Release. Notwithstanding anything in this Agreement to the contrary, the Company’s obligations under Sections 7.4,
7.5 and 7.6 shall terminate if Executive does not execute and deliver to the Company a release substantially in the form attached hereto as Appendix A within [forty-five (45) days] of termination of employment or revokes such release within any
applicable revocation period.  
 7.8 Voluntary Resignation and Other Termination. If, whether prior to or following a
Change in Control, the Executive’s employment with the Company terminates for any reason other than pursuant to Section 7.1 (Death), 7.2 (Disability), 7.3 (Cause), 7.4 (Without Cause), 7.5 (With Good Reason), or 7.6 (Without Cause or With
Good Reason Following a Change of Control), including by reason of voluntary resignation by the Executive, the Company shall pay to the Executive, within ninety (90) days of the Executive’s termination, the salary accrued to the date of
termination and not theretofore paid and any earned but unpaid Annual Bonus for the fiscal year preceding the fiscal year in which such termination occurs. Executive will not be entitled to any portion of the Annual Bonus for the fiscal year in
which such termination occurs. Rights and benefits of the Executive under the benefit plans and programs of the Company shall be determined in accordance with the terms and conditions of such plans and programs. Neither the Executive nor
the Company shall have any further rights or obligations under this Agreement, except as provided in this Section 7.8 and Section 8. 

7.9 Special 409A Provisions. Notwithstanding any provision of this Agreement to the contrary, if Executive is a specified
employee within the meaning of Section 409A, as determined by the Board of Directors of the Company in accordance with Section 409A, any amounts payable under this Agreement or any other payments to which Executive may be entitled on
account of a “separation from service” within the meaning of Section 409A which constitute “deferred compensation” within the meaning of Section 409A 







 
and which are otherwise scheduled to be paid during the first six months following Executive’s termination of employment (other than any payments that are permitted under Section 409A
to be paid within six months following termination of employment of a specified employee) shall be suspended until the six-month anniversary of Executive’s termination of employment, at which time all payments that were suspended shall be paid
to Executive in a lump sum, together with interest on each suspended payment at the prime rate (as reported in the Wall Street Journal) from the date of suspension to the date of payment. For purposes of Section 409A, each payment under this
Section 7 will be treated as a separate and distinct payment and any installment payment pursuant to this Agreement shall be treated as a right to receive a series of separate and distinct payments. A termination of employment shall not be
deemed to have occurred for purposes of any provision of this Agreement providing for the payment of any amounts or benefits upon or following a termination of employment unless such termination is also a “separation from service” within
the meaning of Section 409A. Payment or reimbursement of each of the business expenses and tax gross-up payments called for by this Agreement with respect to any calendar year shall not affect the amount eligible for payment or
reimbursement in any other calendar year, and such payments and reimbursements may not be exchanged for cash or another benefit. If any amounts are due to be paid to Executive within a specified period, the date of payment within such period
shall be in the sole discretion of the Company. 
 7.10 Section 280G. (a) Notwithstanding any provision of this
Agreement to the contrary, if any of the payments or benefits received or to be received by the Executive in connection with the Executive’s termination of employment in respect of a Change in Control, whether pursuant to the terms of this
Agreement or any other plan, arrangement or agreement with the Company (all such payments and benefits, being hereinafter referred to as the “Total Payments”), would be subject to the excise tax (the “Excise Tax”) imposed under
Section 4999 of the Code, the Executive shall receive the Total Payments and be responsible for the Excise Tax; provided, however that the Executive shall not receive the Total Payments and the Total Payments shall be reduced to the Safe Harbor
Amount (defined below) if (1) the net amount of such Total Payments, as so reduced to the Safe Harbor Amount (and after subtracting the net amount of federal, state and local income taxes on such reduced Total Payments) is greater than or equal
to (2) the net amount of such Total Payment without such reduction (but after subtracting the net amount of federal, state and local income taxes on such Total Payments and the amount of Excise Tax to which the Executive would be subject in
respect of such unreduced Total Payments). The “Safe Harbor Amount” is the amount to which the Total Payments would hypothetically have to be reduced so that no portion of the Total Payments would be subject to the Excise Tax. 

(b) For purposes of determining whether any of the Total Payments will be subject to the Excise Tax and the amount of such Excise Tax,
(1) all of the Total Payments shall be treated as “parachute payments” (within the meaning of Section 280G(b)(2) of the Code) unless, in the opinion of tax counsel (“Tax Counsel”) selected by the accounting firm which
was, immediately prior to the Change in Control, the Company’s independent auditor (the “Auditor”), such payments or benefits (in whole or in part) do not constitute parachute payments, including by reason of
Section 280G(b)(4)(A) of the Code, (2) all “excess parachute payments” within the meaning of Section 280G(b)(1) of the Code shall be treated as subject to the Excise Tax unless, in the opinion of Tax Counsel, such excess
parachute payments (in whole or in part) represent 







 
reasonable compensation for services actually rendered (within the meaning of Section 280G(b)(4)(B) of the Code) in excess of the base amount (within the meaning of Section 280G(b)(3)
of the Code) allocable to such reasonable compensation, or are otherwise not subject to the Excise Tax, and (3) the value of any noncash benefits or any deferred payment or benefit shall be determined by the Auditor in accordance with the
principles of Sections 280G(d)(3) and (4) of the Code. If the Auditor is prohibited by applicable law or regulation from performing the duties assigned to it hereunder, then a different auditor, acceptable to both the Company and the Executive,
shall be selected. The fees and expenses of Tax Counsel and the Auditor shall be paid by the Company. 
 (c) In the event it is determined
that the Safe Harbor Amount is payable to the Executive, then the severance payments provided under Section 7.6 which are cash shall first be reduced on a pro rata basis, and the non-cash severance payments shall thereafter be reduced on a pro
rata basis, to the extent necessary so that no portion of the Total Payments is subject to the Excise Tax. 
 8. Restrictive
Covenants.
 (a) During the “Restriction Period” (as defined below), Executive will not, anywhere the Company conducts
business (i) directly or indirectly, engage or participate in, or render services to (whether as officer, director, agent, owner, operator, member, shareholder, manager, consultant, strategic partner, employee or otherwise) any business that is
directly or indirectly engaged in or that is competitive with the business of Company or any of its affiliates (a “Competing Business”). For purposes of the foregoing, Executive will not be in breach of this
Section 8(a) by reason of his ownership, directly or indirectly, of two percent or less of a Competing Business’ voting capital stock if (i) such Competing Business is publicly traded and (ii) Executive does not, directly or
indirectly, control the operation or management of such Competing Business. For purposes of this Agreement, the “Restriction Period” shall mean the period commencing on the date hereof and ending at the completion of:
(i) in the case of Executive’s voluntary resignation of employment with the Company without Good Reason whether before or after a Change of Control, a period of up to twelve (12) months after Executive’s termination of
employment, as specified by the Company within thirty (30) days of Executive’s termination of employment; or (ii) in the case of the termination of Executive’s employment with the Company for any other reason whether
before or after a Change of Control, the Severance Period; 
 (b) During the Restriction Period, Executive agrees that he will not, directly
or indirectly, (i) solicit for employment, recruit or hire, either as an employee, a consultant or an independent contractor, any person who is or was during the preceding twelve (12) months an employee of the Company or any of its
affiliates, (ii) induce or attempt to induce any person who is or was during the preceding twelve (12) months an employee of the Company or any of its affiliates to terminate his or her employment with the Company or its affiliates,
(iii) solicit, interfere with, divert or take away or attempt to interfere with, divert or take away, any transaction, agreement, business opportunity or business relationship in which the Company or any of its affiliates is or was during the
preceding twelve (12) months involved, or (iv) otherwise engage or participate in any effort or act to induce any person to discontinue a relationship with the Company or any of its affiliates. 







 (c) From and after the date of this Agreement, Executive shall maintain the confidentiality of,
and shall not use for the benefit of himself or others, any Confidential Information (as hereinafter defined) regarding the business, operations, or property of the Company and its affiliates; provided, however, that this
Section 8(c) shall not restrict any disclosure by Executive of any Confidential Information that is required by applicable law (but only such portion of the Confidential Information that he is legally required to disclose) and only if
Executive shall give the Company notice and a reasonable opportunity to contest such disclosure or seek an appropriate protective order. “Confidential Information” means, but is not limited to, information, not generally known, about
the Company’s and its affiliates’ processes, formulas, devices, products, potential products, specifications, computer programs, contract negotiations, terms of agreements, materials sources, supplier contacts, business developments,
customer lists, financial information, research, development, manufacturing, purchasing, accounting, engineering, marketing, merchandising, selling, trade relations and technical services. 

(d) With respect to any Inventions (as hereinafter defined) and any Works of Authorship (as hereinafter defined) made or conceived by
Executive, either solely or jointly with others, (1) during Executive’s past, present or future employment by the Company or its affiliates or (2) within one year after termination of his employment if based on Confidential
Information, Executive agrees: 
 (1) To promptly and fully inform the Company in writing of such Inventions or Works of Authorship. 

(2) To assign (and Executive does hereby irrevocably assign) to the Company all of Executive’s rights to such Works of Authorship or
Inventions, and to Applications for Letters Patent and to Letters Patent granted upon such Inventions. 
 (3) To acknowledge and deliver
promptly to the Company (without charge to the Company but at the expense of the Company) such written instruments and to do such other acts as may be necessary in the opinion of the Company to obtain copyrights and maintain Letters Patent and to
vest the entire right and title thereto in the Company. 
 “Inventions” means discoveries, improvements and ideas (whether
patentable or not) relating to any activities of the Company or its affiliates. “Works of Authorship” means any original work or authorship within the purview of the copyright laws of the United States, and it is intended that all
Works of Authorship created in the course of Executive’s employment with the Company or its affiliates will be works made for hire within the meaning of such copyright laws. 

Except as listed on Schedule A to this Agreement, Executive will not assert any rights under any Inventions or Works of Authorship that relate
to any past, present or possible future business of the Company or its affiliates as having been made or acquired by Executive prior to being employed by the Company. 

(e) Executive acknowledges and agrees that the restrictions contained in this Section 8 are reasonable and necessary protection of the
immediate interests of the Company, 







 
and any violation of these restrictions would cause substantial injury to the Company and that the Company would not have entered into this Agreement without receiving the protective covenants
contained in this Section 8. In the event of a breach or a threatened breach by Executive of these restrictions, the Company will be entitled to an injunction restraining Executive from such breach or threatened breach (without the
necessity of proving the inadequacy as a remedy of money damages or the posting of bond); provided, however, that the right to injunctive relief will not be construed as prohibiting the Company from pursuing any other available remedies, whether at
law or in equity, for such breach or threatened breach. 
 (f) Immediately upon termination of the Executive’s employment or upon
request, the Executive shall return to the Company all documents (including all copies), material, and property belonging to the Company and its affiliates, including, but not limited to, manuals, policies, financial records, legal documents,
customer lists, prospective customer lists, training materials and marketing materials. 
 9. Non-Disparagement. 

Executive agrees not to make written or oral statements about the Company, its subsidiaries or affiliates, or its directors, executive
officers or non-executive officer employees that are negative or disparaging. The Company, its subsidiaries and affiliates shall not, and the Company shall instruct its directors and executive officers to not, make written or oral statements about
Executive that are negative or disparaging. Notwithstanding the foregoing, nothing in this Agreement shall preclude Executive, the Company, its subsidiaries and affiliates, and the Company’s directors and executive officers from communicating
or testifying truthfully to the extent required by law to any federal, state, provincial or local governmental agency or in response to a subpoena to testify issued by a court of competent jurisdiction.

10. Cooperation.

Following Executive’s termination of employment for any reason, Executive agrees to make himself reasonably available to cooperate with
the Company and its affiliates in matters that materially concern: (i) requests for information about the services Executive provided to the Company and its affiliates during his employment with the Company and its affiliates, (ii) the
defense or prosecution of any claims or actions now in existence or which may be brought in the future against or on behalf of the Company and its affiliates which relate to events or occurrences that transpired while Executive was employed the
Company and its affiliates and as to which Executive has, or would reasonably be expected to have, personal experience, knowledge or information or (iii) any investigation or review by any federal, state or local regulatory, quasi-regulatory or
self-governing authority (including, without limitation, the US Department of Justice, the US Federal Trade Commission or the US Securities and Exchange Commission) as any such investigation or review relates to events or occurrences that transpired
while Executive was employed by the Company and its affiliates. Nothing in this Section shall be construed to limit in any way any rights Executive may have at applicable law not to provide testimony with regard to specific matters. Unless
required by law or legal process, Executive will not knowingly or intentionally furnish information to or cooperate with any non-governmental entity (other than the Company) in connection with any potential or pending proceeding or legal action








 
involving matters arising during Executive’s employment with the Company and its affiliates. The Company will reimburse Executive for any reasonable, out-of-pocket travel, hotel and meal
expenses incurred in connection with Executive’s performance of obligations pursuant to this Section for which Executive has obtained prior approval from the Company. Nothing in this Section or any other agreement by and between the Parties is
intended to or shall preclude or in any way limit or restrict Executive from providing accurate and truthful testimony or information to any governmental agency. 

11. Definitions. As used in this Agreement, the following terms shall have the following meanings: 

(a) “Cause” means: 

(1) the Executive’s willful and continued failure to substantially perform his duties (other than any such failure resulting from
incapacity due to physical or mental illness), after written notice from the Company requesting such substantial performance is delivered to Executive, which notice identifies in reasonable detail the manner in which the Company believes the
Executive has not substantially performed his duties and provides a thirty (30) days in which to cure such failure, or 
 (2) any act
of fraud, embezzlement or theft on the Executive’s part against the Company or its affiliates, 
 (3) a conviction (or plea of nolo
contendere) of a felony or any crime involving moral turpitude; 
 (4) a breach of a material element of the Company’s Code of Conduct
or; 
 (5) any material breach of Executive’s obligations under this Agreement, which, to the extent curable, has not been cured to
the reasonable satisfaction of the Board within thirty (30) days after Executive has been provided written notice of such breach. 

(b) “Good Reason” means: 

(1) a material reduction in Executive’s duties or responsibilities; 

(2) a material reduction in Executive’s base salary or Target Bonus opportunity; 

(3) a material breach by the Company of this Agreement; or 

(4) a change of the Company’s headquarters or of Executive’s principal place of employment of more than 50 miles from Tempe,
Arizona; 







 provided, however, that such event will not constitute Good Reason unless Executive has provided the Company
notice of the existence of a Good Reason condition no more than 60 days after its initial existence and the Company has failed to remedy the condition within 30 days after such notice. 

(c) “Change in Control” means the earliest date at which: 

(1) any Person (which term shall mean any individual, corporation, partnership, group, association or other “person,” as such term
is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended, other than the Company or any employee benefit plans sponsored by the Company) is or becomes the “beneficial owner” (as defined in
Rule 13d-3 under such Act), directly or indirectly, of securities of the Company representing 50.1% or more of the combined voting power of the Company’s outstanding Voting Securities (which term shall mean securities which under ordinary
circumstances are entitled to vote for the election of directors) other than through the purchase of Voting Securities directly from the Company through a private placement; 

(2) individuals who constitute the Board on the date hereof (the “Incumbent Board”) cease for any reason to constitute at least a
majority thereof, provided that any person becoming a director subsequent to the date hereof whose election, or nomination for election by the Company’s shareholders, was approved by a vote of at least a majority of the directors comprising the
Incumbent Board shall from and after such election be deemed to be a member of the Incumbent Board; 
 (3) a merger or consolidation
involving the Company or its stock or an acquisition by the Company, directly or indirectly or through one or more subsidiaries, of another entity or its stock or assets in exchange for the stock of the Company is consummated, unless, immediately
following such transaction, 50.1% or more of the then outstanding Voting Securities of the surviving or resulting corporation or entity will be (or is) then beneficially owned, directly or indirectly, by the individuals and entities who were the
beneficial owners of the Company’s outstanding Voting Securities immediately prior to such transaction (treating, for purposes of determining whether the 50.1% continuity test is met, any ownership of the Voting Securities of the surviving or
resulting corporation or entity that results from a stockholder’s ownership of the stock of, or other ownership interest in, the corporation or other entity with which the Company is merged or consolidated as not owned by persons who were
beneficial owners of the Company’s outstanding Voting Securities immediately prior to the transaction); or 
 (4) all or substantially
all of the assets of the Company are sold or transferred to a Person as to which (A) the Incumbent Board does not have authority (whether by law or contract) to directly control the use or further disposition of such assets and (B) the
financial results of the Company and such Person are not consolidated for financial reporting purposes. 
 12. Arbitration. Any
dispute or controversy arising under, related to or in connection with this Agreement shall be settled exclusively by arbitration before a single arbitrator in New York, New York, in accordance with the Commercial Arbitration Rules of the
American Arbitration Association. The arbitrator’s award shall be final and binding on all parties to this Agreement. Judgment may be entered on an arbitrator’s award in any court having competent jurisdiction. 







 13. Assignment. This Agreement is personal to Executive and shall not be assignable
by Executive. This Agreement shall inure to the benefit of and be enforceable by Executive and Executive’s legal representatives and heirs. The Executive hereby consents to the assignment of this Agreement to any successor or assign
of the Company. This Agreement shall inure to the benefit of and be binding upon the Company and its successors and assigns. The Company shall require any successor (by merger or otherwise) to expressly assume this Agreement. 

14. Mitigation/Set Off. Subject to Section 4 herein, the Company’s obligation to pay Executive the amounts provided and
to make the arrangements provided hereunder shall not be subject to set-off, counterclaim or recoupment of amounts owed by Executive to the Company or its affiliates except, to the extent permitted by Section 409A, for any specific, stated
amounts owed by the Executive to the Company. In the event of any termination of employment hereunder, the Executive shall be under no obligation to seek other employment and there shall be no offset against any amounts due Executive under this
Agreement on account of any remuneration attributable to any subsequent employment that Executive may obtain. 
 15.
Severability. A determination that any provision of this Agreement is invalid or unenforceable shall not affect the validity or enforceability of any other provision hereof. Any provision of this Agreement which is rendered or held
invalid, illegal or unenforceable in any respect in any jurisdiction shall be ineffective, but such ineffectiveness shall be limited as follows: (a) if such provision is rendered or held invalid, illegal or unenforceable in such jurisdiction
only as to a particular person or persons or under any particular circumstance or circumstances, such provision shall be ineffective, but only in such jurisdiction and only with respect to such particular person or persons or under such particular
circumstance or circumstances, as the case may be; (b) without limitation of clause (a), such provision shall in any event be ineffective only as to such jurisdiction and only to the extent of such invalidity, illegality or unenforceability,
and such invalidity, illegality or unenforceability in such jurisdiction shall not render invalid, illegal or unenforceable such provision in any other jurisdiction; and (c) without limitation of clause (a) or (b), such ineffectiveness
shall not render invalid, illegal or unenforceable this Agreement or any of the remaining provisions hereof. 
 16.
Withholding. The Company may withhold from any amounts payable under this Agreement such federal, state, local or foreign taxes as shall be required to be withheld pursuant to any applicable law or regulation. 

17. Governing Law. This Agreement shall be governed by and construed in accordance with the law of the State of New York without
reference to principles of conflicts of law. 
 18. Entire Agreement. This Agreement constitutes the entire Agreement between
the parties with respect to the subject matter hereof and supersedes in its entirety any and all prior agreements, understandings, or representations relating to the subject matter hereof. No modification of this Agreement shall be valid unless
made in writing and signed by the parties hereto. 







 19. Interpretation. All parties have participated jointly in the negotiation and
drafting of this Agreement. In the event any ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the Company and Executive and no presumption or burden of proof shall arise
favoring or disfavoring any party by virtue of the authorship of any of the provisions of this Agreement. 
 IN WITNESS WHEREOF, the parties
hereto have caused this Agreement to be executed and delivered as of the day and year first above set forth. 
  

			
	VERSUM MATERIALS, LLC
		
	By:	 	 
		 	 Name:
 Title:

	
	EXECUTIVE
	
	 /s/
  










 Appendix A 

WAIVER AND RELEASE AGREEMENT 

1. In consideration for the severance pay and severance benefits to be provided to me under the terms of the EMPLOYMENT AGREEMENT
DATED AS OF                     
                    ,                     ,
I, on behalf of myself and my heirs, executors, administrators, attorneys and assigns, hereby irrevocably and KNOWINGLY, VOLUNTARILY and unconditionally waive and release fully and forever VERSUM MATERIALS, [LLC/Inc.], and it Affiliates
(hereinafter collectively referred to as the “Employer”) together with the Employer’s past and present parents, subsidiaries, divisions and related or affiliated entities, whether direct or indirect, its and their joint ventures and
joint venturers (including their respective directors, officers, employees, shareholders, attorneys, insurers, trustees, partners and agents, past, present, and future), and each of its and their respective successors and assigns (hereinafter
collectively referred to as “Releasees”), from any and all known or unknown actions, causes of action, claims or liabilities of any kind (“Claims”) which have or could be asserted from the beginning of time until the date of my
execution of this Waiver and Release Agreement against the Releasees including, but not limited to: 
 (a) Claims arising out of or
related to my employment with and/or separation from employment with the Employer and/or any of the other Releasees; 
 (b) Claims arising
under Title VII of the Civil Rights Act of 1964, the Civil Rights Act of 1991, the Age Discrimination in Employment Act (ADEA), the Americans with Disabilities Act, the Family and Medical Leave Act, the Employee Retirement Income Security Act, the
Equal Pay Act, the Genetic Information Nondiscrimination Act, the Fair Labor Standards Act, the Portal to Portal Act, the National Labor Relations Act (NLRA), the Pennsylvania Human Relations Act, the Pennsylvania Minimum Wage Act, the Pennsylvania
Wage Payment and Collection Law, all as amended, or any other federal, state, or local law or ordinance relating in any way to unlawful discharge, discrimination, retaliation, wage payment, or fair employment practices, or any claim under any
statutory or common law theory (including, but not limited to, claims based on sex, attainment of benefit plan rights, race, religion, national origin, marital status, sexual orientation, ancestry, harassment, parental status, handicap, disability,
retaliation, and veteran status); and/or 
 (c) Claims arising under any other federal, state, municipal, or local statute, law, ordinance
or regulation; and/or 
 (d) any other Claim whatsoever including, but not limited to, claims for severance pay, claims based upon breach of
contract, wrongful termination, defamation, intentional infliction of emotional distress, tort, personal injury, invasion of privacy, violation of public policy, negligence and/or any other common law, statutory or other claim whatsoever arising out
of or relating to my employment with and/or separation from employment with the Employer and/or any of the other Releasees, but excluding the filing of an administrative charge of discrimination, any claims which I may make under state workers’
compensation or unemployment laws, and/or any claims which by law I cannot waive. 







 2. I also agree never to sue any of the Releasees or become party to a lawsuit on the basis of
any claim of any type whatsoever arising out of or related to my employment with and/or separation from employment with the Employer and/or any of the other Releasees, except I may bring a lawsuit to challenge (i) any rights or claims that
arise after Employee signs this Agreement; (ii) any claim to challenge the release under the ADEA; (iii) any rights to vested retirement benefits; and (iv) any rights that cannot be waived by operation of law. 

3. I further acknowledge and agree in the event that I breach the provisions of paragraph (2) above, then (a) the Employer shall be
entitled to apply for and receive an injunction to restrain any violation of paragraph (2) above, (b) the Employer shall not be obligated to continue payment of the severance pay and availability of severance benefits to me, (c) I
shall be obligated to pay to the Employer its costs and expenses in enforcing this Waiver and Release Agreement and defending against such lawsuit (including court costs, expenses and reasonable legal fees), and (d) as an alternative to (c), at
the Employer’s option, I shall be obligated upon demand to repay to the Employer all but $100 of the severance pay and cost of the severance benefits paid or made available to me. I further agree that the foregoing covenants shall not
affect the validity of this Waiver and Release Agreement and shall not be deemed a penalty nor a forfeiture. 
 4. I further waive my right
to any monetary recovery should any federal, state, or local administrative agency pursue any claims on my behalf arising out of or related to my employment with and/or separation from employment with the Employer and/or any of the other Releasees.

 5. I promise to not seek employment with the Employer or any of the Releasees in the future. I further agree to waive, release, and
discharge Releasees from any reinstatement rights which I have or could have and I acknowledge that I have not suffered any on-the-job injury for which I have not already filed a claim. 

6. I acknowledge and agree that I am bound by the post-employment restrictions set forth in Paragraph 8 of my Employment Agreement with the
Employer. I further agree that if I breach any of the provisions in Paragraph 8 of the Employment Agreement, then (a) the Employer shall be entitled to apply for and receive an injunction to restrain such breach, (b) the Employer shall not
be obligated to continue payment of the severance pay and availability of severance benefits to me, and (c) I shall be obligated to pay to the Employer its costs and expenses in enforcing the terms of Paragraph 8 of the Employment Agreement
(including court costs, expenses and reasonable legal fees). 
 7. I acknowledge that I have been given at least [forty-five (45)]
[twenty-one (21)] days to consider this Waiver and Release Agreement thoroughly and I was encouraged to consult with my personal attorney, if desired, before signing below. 

8. I understand that I may revoke this Waiver and Release Agreement within seven (7) days after its signing and that any revocation must
be made in writing and submitted within such seven (7) day period to the Plan Administrator. I further understand that if I revoke this Waiver and Release Agreement, I shall not receive the severance pay nor the severance benefits. 







 9. I also understand that the severance pay and severance benefits which I will receive in
exchange for signing and not later revoking this Waiver and Release Agreement are in addition to anything of value to which I already am entitled. 

10. I FURTHER UNDERSTAND THAT THIS WAIVER AND RELEASE AGREEMENT INCLUDES A RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS. 

11. I acknowledge and agree that if any provision of this Waiver and Release Agreement is found, held or deemed by a court of competent
jurisdiction to be void, unlawful or unenforceable under any applicable statute or controlling law, the remainder of this Waiver and Release Agreement shall continue in full force and effect. 

12. This Waiver and Release Agreement is deemed made and entered into in the New York, and in all respects shall be interpreted, enforced and
governed under applicable federal law and in the event reference shall be made to State law, the internal laws of the New York shall apply without regard to its conflicts of law provisions. Any dispute under this Waiver and Release Agreement
shall be adjudicated by a court of competent jurisdiction in the Commonwealth of Pennsylvania. 
 13. I further acknowledge and agree that I
have carefully read and fully understand all of the provisions of this Waiver and Release Agreement and that I voluntarily enter into this Waiver and Release Agreement by signing below. I acknowledge that I am not entering into this Waiver and
Release Agreement relying on any representations by the Company or other Releasees concerning the meaning of any aspect of this Agreement. 
  

	
	
	   

	(Name of Eligible Employee – Please Print)
	
	   

	(Signature of Eligible Employee)
	
	   

	(Date)
	
	  

	 PLEASE RETURN TO:
  

Human Resource Administrator