Document:

EX-10.5

 Exhibit 10.5 
  

 
 PQ GROUP HOLDINGS INC. 

AMENDED & RESTATED STOCKHOLDERS AGREEMENT 

Dated as of [●], 2017 
  

 
  

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
	 ARTICLE I REGISTRATION RIGHTS
	  	 	1	 
	 1.1.
	  	 Demand Registration
	  	 	1	 
	 1.2.
	  	 Shelf Takedown
	  	 	3	 
	 1.3.
	  	 Piggyback Registration
	  	 	4	 
	 1.4.
	  	 Priority of Securities
	  	 	4	 
	 1.5.
	  	 Registration Procedures
	  	 	5	 
	 1.6.
	  	 Expenses
	  	 	7	 
	 1.7.
	  	 Indemnification
	  	 	8	 
	 1.8.
	  	 Participation in Underwritten Registrations
	  	 	10	 
	 1.9.
	  	 Rule 144
	  	 	11	 
	 1.10.
	  	 Transfer of Registration Rights
	  	 	11	 
	 1.11.
	  	 Holdback
	  	 	11	 
	 ARTICLE II DEFINITIONS
	  	 	12	 
	 2.1.
	  	 Certain Definitions
	  	 	12	 
	 2.2.
	  	 Terms Generally
	  	 	17	 
	 ARTICLE III MISCELLANEOUS
	  	 	18	 
	 3.1.
	  	 Termination
	  	 	18	 
	 3.2.
	  	 Publicity
	  	 	18	 
	 3.3.
	  	 Confidentiality
	  	 	18	 
	 3.4.
	  	 Compliance
	  	 	18	 
	 3.5.
	  	 Further Assurances
	  	 	18	 
	 3.6.
	  	 No Recourse
	  	 	19	 
	 3.7.
	  	 Amendment; Waivers, etc
	  	 	19	 
	 3.8.
	  	 Assignment
	  	 	19	 
	 3.9.
	  	 Binding Effect
	  	 	19	 
	 3.10.
	  	 No Third Party Beneficiaries
	  	 	19	 
	 3.11.
	  	 Notices
	  	 	19	 
	 3.12.
	  	 Severability
	  	 	21	 
	 3.13.
	  	 Headings
	  	 	21	 
	 3.14.
	  	 Entire Agreement
	  	 	21	 
	 3.15.
	  	 Governing Law
	  	 	21	 
	 3.16.
	  	 Consent to Jurisdiction
	  	 	21	 

							
	        3.17.	  	 Waiver of Jury Trial
	  	 	22	 
	 3.18.
	  	 Enforcement
	  	 	22	 
	 3.19.
	  	 Counterparts; Facsimile Signatures
	  	 	22	 

 Exhibit A – Form of Joinder Agreement 

  
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 AMENDED & RESTATED STOCKHOLDERS AGREEMENT, dated as of [●], 2017 (this
“Agreement”), among (i) PQ Group Holdings Inc., a Delaware corporation (the “Company”), (ii) CCMP Capital Investors III, L.P., a Delaware limited partnership, CCMP Capital Investors III (Employee), L.P., a
Delaware limited partnership, Quartz Co-Invest L.P., a Delaware limited partnership, CCMP Capital Investors III (AV-7), L.P., a Delaware limited partnership, CCMP
Capital Investors III (AV-8), L.P., a Delaware limited partnership, CCMP Capital Investors III (AV-9), L.P., a Delaware limited partnership, and CCMP Capital Investors
III (AV-10), L.P., a Delaware limited partnership (collectively, “CCMP”, and, together with their respective Permitted Transferees (as defined herein), the “CCMP Investors”),
(iii) INEOS Investments Partnership, a general partnership organized under the laws of England and Wales (the “INEOS Investor” and, together with CCMP, each an “Entity Investor” and together, the “Entity
Investors”) and (iv) each other Stockholder that is a party to this Agreement on the date hereof or becomes a party to this Agreement after the date and pursuant to the terms hereof. Certain capitalized terms used herein are defined in
Article II. 
 W I T N E S S E T H: 

WHEREAS, on May 4, 2016, the Company, the CCMP Investors, the INEOS Investor and the other Stockholders party thereto entered into an
Amended and Restated Stockholders Agreement (the “Existing Agreement”); 
 WHEREAS, in connection with the Company’s
initial public offering of its shares of Common Stock (the “IPO”), the parties hereto desire to amend and restate the Existing Agreement in order to set forth their agreement with respect to registration rights and certain other
matters; and 
 WHEREAS, in accordance with Section 7.8 of the Existing Agreement, this Agreement, which constitutes an amendment and
restatement of the Existing Agreement, has been approved by Stockholders holding in excess of 75% of the outstanding Voting Securities of the Stockholders party to the Existing Agreement immediately prior to the consummation of the IPO, including
each Entity Investor who was party to the Existing Agreement, and shall be effective immediately upon the consummation of the IPO. 
 NOW,
THEREFORE, in consideration of the mutual agreements contained herein, the parties hereto hereby agree as follows: 
 ARTICLE I 

REGISTRATION RIGHTS 

1.1.    Demand Registration. 

(a)    At any time, the CCMP Investors may request in writing (which request shall specify the Registrable Securities
intended to be disposed of by the CCMP Investors and the intended method of distribution thereof) that the Company effect the registration or listing of all or a portion of the Registrable Securities held by the CCMP Investors (a
“Registration Request”). Promptly after its receipt of any Registration Request (but in no event more than 2 Business Days thereafter), the Company will give written notice of such request to all other Holders, and will use its
reasonable best efforts to register, in accordance with the provisions of this Agreement, all Registrable Securities that have been requested to be registered in the 

 
Registration Request or by any other Holders by written notice to the Company given within 3 Business Days after the date the Company has given such Holders notice of the Registration Request,
not to exceed such other Holder’s pro rata share (determined based upon the number of Registrable Securities requested to be registered by the CCMP Investors in such Registration Request as compared to the aggregate number of Registrable
Securities held by the CCMP Investors at the time of such Registration Request) of all Registrable Securities to be registered pursuant to such Registration Request, unless otherwise agreed to by the CCMP Investors. The Company will pay all
Registration Expenses incurred in connection with any registration pursuant to this Section 1.1. Any registration requested by the CCMP Investors pursuant to this Section 1.1 is referred to in this Agreement as a “Demand
Registration.” In connection with a Demand Registration, the CCMP Investors shall have the right to select the underwriters to administer the offering, subject to the reasonable approval of the Company. The CCMP Investors shall be entitled
to initiate an unlimited number of Demand Registrations. 
 (b)    The Company will use its reasonable best efforts to
qualify for registration on Form S-3 or any comparable or successor form or forms or any similar short-form Registration Statement (“Short-Form Registrations”). If requested by the CCMP
Investors in a Demand Registration and available to the Company, the Company shall promptly file with the SEC a Short-Form Registration providing for the registration of, and the sale on a continuous or delayed basis of, the Registrable Securities
pursuant to Rule 415 under the Securities Act (a “Shelf Registration Statement”). In no event shall the Company be obligated to effect any shelf registration other than pursuant to a Short-Form Registration. The Company will pay all
Registration Expenses incurred in connection with any Short-Form Registration. If any Demand Registration is proposed to be a Short-Form Registration and an underwritten offering, and if the managing underwriter shall advise the Company that, in its
opinion, it is of material importance to the success of such proposed offering to file a Registration Statement on Form S-1 (or any successor or similar Registration Statement) or to include in such
Registration Statement information not required to be included in a Short-Form Registration, then the Company will file a Registration Statement on Form S-1 or supplement the Short-Form Registration as
reasonably requested by such managing underwriter. 
 (c)    If the filing, initial effectiveness or continued use of a
Registration Statement, including a Shelf Registration Statement, with respect to a Demand Registration would require the Company to make a public disclosure of material non-public information, which
disclosure in the good faith judgment of the Board (after consultation with external legal counsel) (i) would be required to be made in any Registration Statement so that such Registration Statement would not be materially misleading,
(ii) would not be required to be made at such time but for the filing, effectiveness or continued use of such Registration Statement and (iii) would reasonably be expected to be materially adverse to the Company or its business or on the
Company’s ability to effect a material proposed acquisition, disposition, financing, reorganization, recapitalization or similar transaction, then the Company may, upon giving prompt written notice of such action to the Holders participating in
such registration, delay the filing or initial effectiveness of, or suspend use of, such Registration Statement; provided, that the Company shall not be permitted to do so (x) more than four times during any 12-month period or (y) for periods exceeding, in the aggregate, 90 days during any 12-month period. In the event the Company exercises its rights under the preceding
sentence, such Holders agree to suspend, promptly upon their receipt of the notice referred to above, their use of any prospectus relating to such registration in connection with any sale or offer to sell Registrable Securities. If

  
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the Company so postpones the filing of a prospectus or the effectiveness of a Registration Statement, the CCMP Investors shall be entitled to withdraw their Registration Request. The Company will
pay all Registration Expenses incurred in connection with any such aborted registration or prospectus. 
 (d)    The
Company shall not be obligated to take any action to effect or complete any Demand Registration if a Demand Registration (other than a Shelf Registration Statement) was declared effective within the preceding 180 days, unless otherwise consented to
by the Company. 
 1.2.    Shelf Takedown. 

(a)    At any time the Company has an effective Shelf Registration Statement with respect to the CCMP Investors’
Registrable Securities, by notice to the Company specifying the intended method or methods of disposition thereof, the CCMP Investors may make a written request (a “Shelf Takedown Request”) to the Company to effect an Underwritten
Shelf Takedown of all or a portion of the CCMP Investors’ Registrable Securities that may be registered under such Shelf Registration Statement, and as soon as practicable the Company shall amend or supplement the Shelf Registration Statement
as necessary for such purpose. The Company will pay all Registration Expenses incurred in connection with any Shelf Takedown Request pursuant to this Section 1.2(a). 

(b)    Promptly upon receipt of a Shelf Takedown Request (but in no event more than 2 calendar days thereafter or such
shorter period as may be reasonably requested in connection with an underwritten “block trade”)) for any Underwritten Shelf Takedown, the Company shall deliver a notice (a “Shelf Takedown Notice”) to each other Holder with
Registrable Securities covered by the applicable Shelf Registration Statement (each, a “Potential Takedown Participant”). The Shelf Takedown Notice shall offer each such Potential Takedown Participant the opportunity to include in
any Underwritten Shelf Takedown such number of Registrable Securities as each such Potential Takedown Participant may request in writing, not to exceed such Holder’s pro rata share (determined based upon the number of Registrable Securities
proposed to be sold by the CCMP Investors in such proposed Underwritten Shelf Takedown as compared to the aggregate number of Registrable Securities held by the CCMP Investors immediately prior to such Underwritten Shelf Takedown) of all Registrable
Securities to be included in such Underwritten Shelf Takedown, unless otherwise agreed to by the CCMP Investors. The Company shall include in the Underwritten Shelf Takedown all such Registrable Securities with respect to which the Company has
received written requests for inclusion therein within 2 calendar days (or such shorter period as may be reasonably requested in connection with an underwritten “block trade”) after the date that the Shelf Takedown Notice has been
delivered. Notwithstanding the delivery of any Shelf Takedown Notice, all determinations as to whether to complete any Underwritten Shelf Takedown and as to the timing, manner, price and other terms of any Underwritten Shelf Takedown contemplated by
this Section 1.2 shall be determined by the CCMP Investors. 
 (c)    The Company shall not be obligated to take
any action to effect any Underwritten Shelf Takedown if a Demand Registration (other than a Shelf Registration) was declared effective or an Underwritten Shelf Takedown was consummated within the preceding 30 days, unless otherwise consented to by
the Company. 

  
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 1.3.    Piggyback Registration. Whenever the Company proposes to
register or list any of its securities (other than (i) a Demand Registration under Section 1.1, (ii) an Underwritten Shelf Takedown under Section 1.2 or (iii) a Special Registration), and the registration form to be filed may be
used for the registration, listing or qualification for distribution of Registrable Securities, the Company will give prompt written notice (the “Piggyback Notice”) to all Holders of its intention to effect such a registration or
listing at least 10 Business Days before the anticipated registration or listing date and will include in such registration or listing all Registrable Securities held by the Holders with respect to which the Company has received written requests for
inclusion therein within 10 Business Days after the date of such Piggyback Notice (a “Piggyback Registration”). The Company shall have the right to terminate or withdraw any registration or listing initiated by it under this
Section 1.3 (and not pursuant to Section 1.1 or Section 1.2) prior to the effectiveness of such registration or listing whether or not any Holder has elected to include any Registrable Securities in such registration or listing. 

1.4.    Priority of Securities. 

(a)    Notwithstanding anything to the contrary in this Agreement, if the managing underwriters of a registered offering of
Registrable Securities deliver a written opinion to the Company that the number of securities requested to be included in any such registered offering of Registrable Securities pursuant to this Article I exceeds the number that can be sold without
materially adversely affecting the marketability of such offering (including a material adverse effect on the per security offering price) (a “Cutback Event”), the Company will include in such registration or prospectus only such
number of securities that in the reasonable opinion of such underwriters can be sold without causing a Cutback Event, which securities will be so included in the following order of priority: 

(i)    for Demand Registrations pursuant to Section 1.1, first, Registrable Securities of the Holders who
have requested registration of their Registrable Securities pursuant to Section 1.1, pro rata on the basis of the aggregate number of such Registrable Securities proposed to be registered by such Holders, and second, any
Registrable Securities proposed to be registered by the Company; 
 (ii)    for Underwritten Shelf Takedowns pursuant
to Section 1.2, first, Registrable Securities of the Holders who have requested to participate in such Underwritten Shelf Takedown pursuant to Section 1.2, pro rata on the basis of the aggregate number of such Registrable
Securities proposed to be sold by such Holders, and second, any Registrable Securities proposed to be sold by the Company; and 

(iii)    for Piggyback Registrations pursuant to Section 1.3, first, Registrable Securities proposed to be
registered by the Company, and second, Registrable Securities of the Holders who have requested registration of their Registrable Securities pursuant to Section 1.3, pro rata on the basis of the aggregate number of such
Registrable Securities proposed to be registered by such Holders. 

  
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 1.5.    Registration Procedures. 

(a)    In the event that Holders request that any of their Registrable Securities be registered pursuant to this Article I,
the Company will use its reasonable best efforts to effect the registration and sale of such Registrable Securities in accordance with the intended method of disposition thereof and as soon as possible: 

(i)    prepare and file with the Commission a Registration Statement with respect to such Registrable Securities and use
its reasonable best efforts to cause such Registration Statement to become effective as soon as practicable thereafter; and before filing a Registration Statement or prospectus or any amendments or supplements thereto, furnish to Stockholders’
Counsel and the underwriter or underwriters, if any, copies of all such documents proposed to be filed, including documents incorporated by reference in the prospectus and the exhibits thereto, and Stockholders’ Counsel (and the underwriter(s),
if any) shall have the opportunity to review and comment thereon, and the Company will make such changes and additions thereto as reasonably requested by such Stockholders (and the underwriter(s), if any) prior to filing any Registration Statement
or amendment thereto or any prospectus or any supplement thereto; 
 (ii)    prepare and file with the Commission such
amendments and supplements to such Registration Statement and the prospectus used in connection therewith as may be required to keep such Registration Statement effective for a period of not less than 180 days, or such shorter period as is necessary
to complete the distribution of the securities covered by such Registration Statement and comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such Registration Statement during such period in
accordance with the intended methods of disposition by the seller or sellers of such Registrable Securities set forth in such Registration Statement; 

(iii)    use its reasonable best efforts to register or qualify such Registrable Securities under such other securities
or blue sky laws of such jurisdictions as any seller of such Registrable Securities and any underwriter(s) reasonably requests and do any and all other acts and things that may be reasonably necessary or advisable to enable any such seller and any
underwriter(s) to consummate the disposition in such jurisdictions of the Registrable Securities; provided that the Company will not be required to (A) qualify generally to do business in any jurisdiction where it would not otherwise be
required to qualify but for this subsection, (B) subject itself to taxation in any such jurisdiction or (C) consent to general service of process in any such jurisdiction; 

(iv)    notify each seller of such Registrable Securities and Stockholders’ Counsel and any underwriter(s), at any
time when a prospectus relating thereto is required to be delivered under the Securities Act, of the occurrence of any event as a result of which the prospectus included in such Registration Statement contains an untrue statement of a material fact
or omits any material fact necessary to make the statements therein not misleading, and, at the request of such sellers or any underwriter(s), the Company shall prepare a supplement or amendment to such prospectus so that, as thereafter delivered to
the purchasers of such Registrable Securities, such prospectus shall not contain an untrue statement of a material fact or omit to state any material fact necessary to make the statements therein not misleading; 

(v)    to the extent the Company is eligible under the relevant provisions of Rule 430B under the Securities Act, if the
Company files any Shelf Registration Statement, the Company shall include in such Shelf Registration Statement such disclosures as may be required by Rule 430B under the Securities Act (referring to unnamed selling security holders in

  
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a generic manner by identifying the initial offering of the securities to the Holders) in order to ensure that Holders may be added to such Shelf Registration Statement at a later time through
the filing of a prospectus supplement rather than a post-effective amendment; 
 (vi)    in the case of an underwritten
offering, (A) enter into such agreements (including underwriting agreements in customary form) as are customary in an underwritten offering and all of the representations and warranties by, and the other agreements on the part of, the Company
in the underwriting agreement and other agreements to and for the benefit of such underwriters, shall also be made for the benefit of each seller of Registrable Securities for the limited purpose of its participation in such offering, (B) take
all such other actions as such sellers or the underwriter(s) reasonably request in order to expedite or facilitate the disposition of such Registrable Securities, (C) use its reasonable best efforts to cause its counsel to issue opinions of
counsel in form, substance and scope as are customary in primary underwritten offerings, addressed and delivered to the underwriter(s) and (D) have appropriate officers of the Company prepare and make presentations at any “road shows”
and before analysts and rating agencies, as the case may be, and other informational meetings organized by the underwriters, and take other actions to obtain ratings for any Registrable Securities (if they are eligible to be rated); 

(vii)    make available for inspection by each seller of Registrable Securities, any underwriter participating in any
disposition pursuant to such Registration Statement, and any attorney, accountant or other agent retained by such seller or underwriter, all financial and other records, pertinent corporate documents and properties of the Company, and use its
reasonable best efforts to cause the Company’s officers, directors, employees and independent accountants to supply all information reasonably requested by such seller, underwriter, attorney, accountant or agent in connection with such
Registration Statement; 
 (viii)    use its reasonable best efforts to cause all such Registrable Securities to be
listed on each securities exchange on which the Equity Securities are then listed or, if they are not listed, on the New York Stock Exchange or the Nasdaq Global Market, as determined by the Company; 

(ix)    provide a transfer agent and registrar for all Registrable Securities not later than the effective date of such
Registration Statement; 
 (x)    if requested, use its reasonable best efforts to cause to be delivered, immediately
prior to the pricing of any underwritten offering, immediately prior to effectiveness of each Registration Statement (and, in the case of an underwritten offering, at the time of closing of the sale of Registrable Securities pursuant thereto),
letters from the Company’s independent registered public accountants addressed to the sellers of Registrable Securities and each underwriter, if any, stating that such accountants are independent public accountants within the meaning of the
Securities Act or other applicable rule or regulation, and otherwise in customary form and covering such financial and accounting matters as are customarily covered by letters of the independent registered public accountants delivered in connection
with primary underwritten public offerings; and 

  
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 (xi)    promptly notify the sellers of Registrable Securities and
Stockholders’ Counsel and the underwriter or underwriters, of the following events, if any: 
 (A)    when the
Registration Statement, any pre-effective amendment, the prospectus or any prospectus supplement or post-effective amendment to the Registration Statement has been filed and, with respect to the Registration
Statement or any post-effective amendment, when the same has become effective; 
 (B)    of any written request by the
Commission for amendments or supplements to the Registration Statement or prospectus; 
 (C)    of the notification to
the Company by the Commission of its initiation of any proceeding with respect to, or the issuance by the Commission of any stop order suspending the effectiveness of, the Registration Statement; and 

(D)    of the receipt by the Company of any notification with respect to the suspension of the qualification of any
Registrable Securities for sale under the applicable securities or blue sky laws of any jurisdiction. 
 (b)    The
Company shall furnish to Stockholders’ Counsel, sellers of Registrable Securities or any underwriter (i) promptly after the same is prepared and publicly distributed, filed with the Commission, or received by the Company, copies of each
Registration Statement and any amendment thereto, each preliminary prospectus and prospectus and each amendment or supplement thereto, each letter written by or on behalf of the Company to the Commission, and each item of correspondence from the
Commission, in each case relating to such Registration Statement, and (ii) such number of copies of a prospectus, including a preliminary prospectus, and all amendments and supplements thereto and such other documents as Stockholders’
Counsel, sellers of Registrable Securities or any underwriter may reasonably request in order to facilitate the disposition of the Registrable Securities. The Company will promptly notify sellers and Stockholders’ Counsel of the effectiveness
of each Registration Statement or any post-effective amendment. The Company will respond reasonably promptly to any and all comments received from the Commission, with a view towards causing each Registration Statement or any amendment thereto to be
declared effective by the Commission as soon as practicable and shall file an acceleration request as soon as practicable following the resolution or clearance of all comments by the Commission, if applicable, following notification by the
Commission that any such Registration Statement or any amendment thereto will not be subject to further review. 

1.6.    Expenses. 

(a)    All expenses incurred in connection with each registration pursuant to, and incident to the Company’s
performance of or compliance with, this Article I, including all registration and filing fees, fees and expenses of compliance with securities or blue sky laws, listing application fees, printing expenses, transfer agent’s and registrar’s
fees, cost of distributing prospectuses in preliminary and final form as well as any supplements thereto, fees and disbursements of counsel for the Company and all accountants and other Persons retained by the Company and the reasonable fees and
disbursements of one U.S. counsel for each Entity Investor, plus any local counsel needed to deliver legal opinions to the underwriters (the “Stockholders’ Counsel”) (all such expenses being herein called
“Registration Expenses”) (but not including any underwriting discounts or commissions or transfer taxes, if any, attributable to the sale of Registrable Securities, which shall be borne by the applicable seller of Registrable

  
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Securities), shall be borne by the Company. In addition, the Company shall pay its internal expenses (including all salaries and expenses of its officers and employees performing legal or
accounting duties), the expense of any annual audit or quarterly review, the expense of any liability insurance and the expenses and fees for listing the securities to be registered on each securities exchange on which they are to be listed. 

(b)    The obligation of the Company to bear the expenses described in Section 1.6(a) shall apply irrespective of
whether a registration, once properly demanded, if applicable, becomes effective, is withdrawn or suspended or is converted to another form of registration and irrespective of when any of the foregoing shall occur. 

1.7.    Indemnification. 

(a)    The Company shall indemnify and hold harmless, to the fullest extent permitted by law, each Holder and each of their
respective officers, directors, employees and Affiliates and each Person who controls such Holder (within the meaning of the Securities Act) against any losses, claims, damages, liabilities, joint or several, and expenses (each, a
“Loss”) arising out of or based upon (i) any untrue or alleged untrue statement of a material fact contained in any Registration Statement, prospectus, preliminary prospectus or free writing prospectus or any amendment thereof
or supplement thereto or in any application for listing on a national securities exchange, or (ii) any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein (in the case of a
prospectus, in light of the circumstances under which they were made) not misleading or (iii) any violation by the Company of the Securities Act, the Exchange Act or applicable “blue sky” laws, except insofar as the same are made in
reliance and in conformity with information relating to such Holder, furnished in writing to the Company by such Holder, expressly for use therein. 

(b)    In connection with any Registration Statement that includes Registrable Securities owned by any Holder, such Holder
shall furnish to the Company in writing such information and affidavits as the Company reasonably requests for use in connection with any such Registration Statement or prospectus and shall indemnify and hold harmless the Company, its directors and
officers, and each other Person who controls the Company (within the meaning of the Securities Act) against any Losses to which the Company or any such director or officer or controlling Person may become subject under the Securities Act or
otherwise, insofar as such Losses arise out of or are based upon (i) any untrue or alleged untrue statement of material fact contained in the Registration Statement, prospectus, preliminary prospectus or free writing prospectus or any amendment
thereof or supplement thereto or in any application for listing on a national securities exchange or (ii) any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein not
misleading, but only to the extent that such untrue statement or omission is made in such Registration Statement, any such prospectus or preliminary prospectus or any amendment or supplement thereto, or in any such application, in reliance upon and
in conformity with written information prepared and furnished to the Company by a Holder expressly for use therein, and such Holder will reimburse the Company and each such director, officer and controlling Person for any legal or any other expenses
actually and reasonably incurred by them in connection with investigating, defending or settling any such loss, claim, liability, action or proceeding; provided that the obligation to indemnify and hold harmless will be limited to the net
amount of proceeds received by such Holder from the sale of Registrable Securities pursuant to such Registration Statement. 

  
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 (c)    In case any proceeding (including any governmental investigation) will
be instituted involving any Person in respect of which indemnity may be sought pursuant to Section 1.7(a) or (b), such Person (hereinafter called the “indemnified party”) will promptly notify the Person against whom such
indemnity may be sought (hereinafter called the “indemnifying party”) in writing and the indemnifying party, upon request of the indemnified party, will retain counsel reasonably satisfactory to the indemnified party to represent
the indemnified party and will pay the fees and disbursements of such counsel related to such proceeding. In any such proceeding, any indemnified party will have the right to retain its own counsel, but the fees and expenses of such counsel will be
at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party will have mutually agreed to the retention of such counsel or (ii) the named parties to any such proceeding (including any impeded
parties) include both the indemnifying party and the indemnified party and the indemnified party will have been advised by counsel that representation of both parties by the same counsel would be inappropriate due to actual or potential differing
interests between them. It is understood that the indemnifying party will not, in connection with any proceeding or related proceedings in the same jurisdiction, be liable for the reasonable fees and expenses of more than one separate firm of
attorneys (in addition to any local counsel) at any time for all such indemnified parties, and that all such reasonable fees and expenses will be reimbursed as they are incurred. In the case of the retention of any such separate firm for the
indemnified parties, such firm will be designated in writing by the indemnified parties. The indemnifying party will not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if
there shall be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any
time an indemnified party will have requested an indemnifying party to reimburse the indemnified party for reasonable fees and expenses of counsel as contemplated by the third sentence of this Section 1.7(c), the indemnifying party agrees that
it will be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request and (ii) such
indemnifying party will not have reimbursed the indemnified party in accordance with such request or reasonably objected in writing, on the basis of the standards set forth herein, to the propriety of such reimbursement prior to the date of such
settlement. No indemnifying party will, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity
could have been sought hereunder by such indemnified party, unless such settlement includes an unconditional release of such indemnified party from all liability on claims that are the subject matter of such proceeding. 

(d)    The provisions of this Section 1.7 shall survive the transfer of securities and any termination of this
Agreement. 
 (e)    If the indemnification provided for in or pursuant to this Section 1.7 is due in accordance
with the terms hereof, but is held by a court to be unavailable or unenforceable in respect of any Losses, then each applicable indemnifying party, in lieu of indemnifying such indemnified party, shall contribute to the amount paid or payable by
such indemnified Person as a result of such Losses in such proportion as is appropriate to reflect the relative fault of the indemnifying party, on the one hand, and of the indemnified party, on the other hand, in connection with the statements or
omissions that result in such Losses as well as any other 

  
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relevant equitable considerations. The relative fault of the indemnifying party, on the one hand, and of the indemnified Person, on the other hand, shall be determined by reference to, among
other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the indemnifying party or by the indemnified party, and by such
party’s relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The parties agree that it would not be just and equitable if contribution pursuant to this Section 1.7(e) were
determined by pro rata allocation or by any other method of allocation that does not take into account the equitable considerations referred to in this Section 1.7(e). No Person guilty of “fraudulent misrepresentation” (within
the meaning of Section 11(f) of the Securities Act) will be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. If indemnification is available under this Section 1.7, the indemnifying party
will indemnify each indemnified party to the full extent provided in Sections 1.7(a) and (b) without regard to the relative fault of said indemnifying party or indemnified party or any other equitable consideration provided for in this
Section 1.7(e). 
 (f)    The Company hereby acknowledges and agrees that any of the Persons entitled to
indemnification pursuant to Section 1.7(a) (each, a “Company Indemnitee”) may have certain rights to indemnification, advancement of expenses and/or insurance provided by other sources. The Company hereby acknowledges and
agrees (i) that it is the indemnitor of first resort (i.e., its obligations to a Company Indemnitee are primary and any obligation of such other sources to advance expenses or to provide indemnification for the same expenses or liabilities
incurred by such Company Indemnitee are secondary) and (ii) that it shall be required to advance the full amount of expenses incurred by a Company Indemnitee and shall be liable for the full amount of all expenses, judgments, penalties, fines
and amounts paid in settlement to the extent legally permitted and as required by the terms of this Agreement without regard to any rights a Company Indemnitee may have against such other sources. The Company further agrees that no advancement or
payment by such other sources on behalf of a Company Indemnitee with respect to any claim for which such Company Indemnitee has sought indemnification, advancement of expenses or insurance from the Company shall affect the foregoing, and that such
other sources shall have a right of contribution and/or be subrogated to the extent of such advancement or payment to all of the rights of recovery of such Company Indemnitee against the Company. 

1.8.    Participation in Underwritten Registrations. 

(a)    No Holder may participate in any registration hereunder that is underwritten unless such Holder (i) agrees to
sell its Registrable Securities on the basis provided in any customary underwriting arrangements (including pursuant to the terms of any over-allotment or “green shoe” option requested by the underwriter(s); provided that no Holder
will be required to sell more than the number of Registrable Securities that such Holder has requested the Company to include in any registration), (ii) completes and executes all questionnaires, powers of attorney, indemnities, underwriting
agreements and other documents reasonably required under the terms of such underwriting arrangements and (iii) cooperates with the Company’s reasonable requests in connection with such registration or qualification (it being understood
that the Company’s failure to perform its obligations hereunder, which failure is caused by such Holder’s failure to cooperate, will not constitute a breach by the Company of this Agreement). Notwithstanding the foregoing, no Holder will
be required to agree to any indemnification obligations on the part of such Holder that are greater than its obligations pursuant to Section 1.7(b). 

  
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 (b)    Each Holder that is participating in any registration hereunder agrees
that, upon receipt of any notice from the Company of the happening of any event of the kind described in Section 1.5(a)(iv), such Holder will forthwith discontinue the disposition of its Registrable Securities pursuant to the Registration
Statement until such Holder receives copies of a supplemented or amended prospectus as contemplated by such Section 1.5(a)(iv). In the event the Company gives any such notice, the applicable time period mentioned in Section 1.5(a)(ii)
during which a Registration Statement is to remain effective will be extended by the number of days during the period from and including the date of the giving of such notice pursuant to Section 1.5(a)(iv) to and including the date when each
seller of a Registrable Security covered by such Registration Statement will have received the copies of the supplemented or amended prospectus contemplated by Section 1.5(a)(iv). 

1.9.    Rule 144. The Company covenants that: (a) to the extent applicable, it will make available adequate
current public information with respect to the Company meeting the information requirements of Rule 144(c) under the Securities Act, and upon the request of any Stockholder, the Company will deliver to such Stockholder a written statement as to
whether it has complied with such information requirements; and (b) that it will take such further action as any Stockholder may reasonably request to enable such Stockholder to sell Registrable Securities without registration under the
Securities Act pursuant to the exemption provided by Rule 144. 
 1.10.    Transfer of Registration Rights. The
Holders may transfer and assign all or any portion of their then remaining registration rights under this Article I to any Permitted Transferee of such Holder. In connection with any such transfer and assignment, the term “Holder” as used
in this Article I shall, where appropriate to assign such rights to such Permitted Transferee, be inclusive of the Holder and such Permitted Transferee. After any such Transfer and assignment, such Holder shall retain its rights under this Article I
with respect to all other Registrable Securities owned by such Holder. 
 1.11.    Holdback. In consideration for
the Company agreeing to its obligations under this Agreement, each Stockholder agrees in connection with any registration or sale of Registrable Securities conducted as an underwritten Public Offering (whether or not such Stockholder is
participating in such underwritten Public Offering) upon the request of the Company and the underwriters managing such underwritten Public Offering, to become bound by and to execute and deliver a lock-up
agreement with the underwriters managing such underwritten Public Offering restricting such Stockholder’s right to effect, and to cause their respective Controlled Affiliates not to effect (other than pursuant to such registration) any public
sale or distribution of Common Stock, including any sale pursuant to Rule 144 or Rule 144A, or make any short sale of, loan, grant any option for the purchase of, or otherwise dispose of any Common Stock, any other Equity Securities of the Company
or any securities convertible into or exchangeable or exercisable for any Equity Securities of the Company without the prior written consent of the Company or such underwriters, as the case may be, during the Holdback Period so long as all
Stockholders or stockholders participating in such registration or holding more than (including any Stockholders who are members of a Group holding more than) 5% of the outstanding Equity Securities are bound by a comparable obligation;
provided that nothing herein will prevent any Stockholder from making a Transfer of Registrable Securities to any Permitted Transferee or 

  
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Involuntary Transferee of such Stockholder, so long as any such Transferee agrees to be so bound. The terms of such lock-up agreements shall be negotiated
among the CCMP Investors, the Company and the underwriters and shall include customary carve outs from the transfer restrictions set forth therein, including a carve out with respect to the transfer of Common Stock pursuant to trading plans
established prior to the date of the applicable lock-up agreement under Rule 10b5-1 under the Exchange Act. The Company further agrees not to effect (other than pursuant
to such registration or pursuant to a Special Registration) any public sale or distribution, or to file any Registration Statement (other than such registration or a Special Registration) covering any of its Equity Securities or any securities
convertible into or exchangeable or exercisable for its Equity Securities, during the Holdback Period with respect to an underwritten offering, if required by the managing underwriter; provided that notwithstanding anything to the contrary
herein, the Company’s obligations under this Section 1.11 shall not apply during any 12-month period for more than an aggregate of 180 days with respect to any Short-Form Registrations. 

ARTICLE II 
 DEFINITIONS 

2.1.    Certain Definitions. 

“Affiliate” means, with respect to any Person, (i) any Person directly or indirectly Controlling, Controlled by or under
common Control with such Person, (ii) any Person directly or indirectly owning or Controlling 10% or more of any class of outstanding voting securities of such Person or (iii) any officer, director, general partner or trustee of any such
Person described in clause (i) or (ii); provided that neither the Company nor any of its subsidiaries shall be deemed an Affiliate of the CCMP Investors or the INEOS Investor. 

“Agreement” has the meaning set forth in the Preamble. 

“Applicable Law” means all applicable provisions of (i) constitutions, treaties, statutes, laws (including the common
law), rules, regulations, ordinances, codes or orders of any Governmental Entity, (ii) any consents or approvals of any Governmental Entity, (iii) any orders, decisions, injunctions, judgments, awards, decrees of or agreements with any
Governmental Entity and (iv) regulations of any self-regulatory organization. 
 “Board” means the board of directors
of the Company. 
 “Business Day” means a day other than a Saturday, Sunday or other day on which commercial banks in New
York City are authorized or required to close. 
 “CCMP” has the meaning set forth in the Preamble. 

“CCMP Investors” has the meaning set forth in the Preamble. 

“Commission” means the Securities and Exchange Commission. 

“Common Stock” means the Common Stock, par value $0.01 per share, of the Company and any securities issued in respect
thereof, or in substitution therefor, in connection with any stock split, dividend or combination, or any reclassification, recapitalization, merger, consolidation, exchange or similar reorganization. 

  
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 “Company” has the meaning set forth in the Preamble. 

“Company Indemnitee” has the meaning set forth in Section 1.7(f). 

“Competitor” means a Person, or another Person that Controls or is Controlled by a Person who competes directly or indirectly
with the Company or any Material Subsidiary; provided that the INEOS Investor and its Affiliates shall not be deemed a Competitor of the Company or any Material Subsidiary. 

“Control” means the power to direct the affairs of a Person by reason of ownership of voting securities, by contract or
otherwise. 
 “Cutback Event” has the meaning set forth in Section 1.4(a). 

“Demand Registration” has the meaning set forth in Section 1.1(a). 

“Effective Date” means the date of this Agreement. 

“Entity Investors” has the meaning set forth in the Preamble. 

“Equity Securities” means any and all shares of Common Stock, securities of the Company convertible into, or exchangeable or
exercisable for, any shares of Common Stock, any other shares of capital stock or interests or participations that confer on a Person the right to receive a share of the profits and losses of, or distribution of assets of, the Company, and options,
warrants or other rights to acquire any such Equity Securities. 
 “Exchange Act” means the Securities Exchange Act of
1934, as amended from time to time, and the rules and regulations promulgated thereunder. 
 “Existing Agreement” has the
meaning set forth in the Recitals. 
 “Governmental Entity” means any federal, state, local or foreign court, legislative,
executive or regulatory authority or agency. 
 “Group” has the meaning assigned to such term in Section 13(d)(3) of
the Exchange Act. 
 “Holdback Period” means, with respect to an underwritten Public Offering, the period commencing on the
date of the final prospectus relating to such underwritten Public Offering and ending on the date specified by the relevant underwriters (such period not to exceed 90 days). 

“Holders” means Stockholders party to this Agreement who hold Registrable Securities at the time in question. 

“indemnified party” has the meaning set forth in Section 1.7(c). 

“indemnifying party” has the meaning set forth in Section 1.7(c). 

  
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 “INEOS Investor” has the meaning set forth in the Preamble. 

“Information” means all information about the Company or any of its Subsidiaries that is or has been furnished to any
Stockholder or any of its Representatives by or on behalf of the Company or any of its Subsidiaries, or any of their respective Representatives (whether written or oral or in electronic or other form and whether prepared by the Company, its
Representatives or otherwise), together with all written or electronically stored documentation prepared or developed by such Stockholder or its Representatives based on, containing or otherwise reflecting, in whole or in part, any of such
information, including any notes, memoranda, analyses, forecasts, compilations, studies or other data; provided that the term “Information” does not include any information that (i) is or becomes generally available to the
public other than as a result of a disclosure by any Stockholder or its Representatives, (ii) is or becomes available to such Stockholder on a nonconfidential basis from a source, other than the Company or any of its Subsidiaries, or any of
their respective Representatives, that to the best of such Stockholder’s knowledge, after reasonable inquiry, is not prohibited from disclosing such portions to such Stockholder by a contractual, legal or fiduciary obligation of confidentiality
to the Company or any other party with respect to such information or (iii) was, is or becomes independently developed by such Stockholder or any of its Representatives, without reference to the Information disclosed to it. 

“Involuntary Transfer” means any Transfer, other than by voluntary act of a Stockholder, or any proceeding or action by or in
which a Stockholder shall be deprived or divested of any right, title or interest in or to any Equity Securities or any Equity Securities shall become encumbered, whether or not such Stockholder consents to such proceeding or action, including
(a) any seizure under levy of attachment or execution, (b) any foreclosure upon a pledge of, or a security interest in, Equity Securities, (c) any Transfer in connection with bankruptcy or similar proceedings relating to a
Stockholder, (d) any Transfer to a state or to a public officer or agency pursuant to any statute pertaining to escheat or abandoned property, (e) any Transfer in connection with the disposition of the community property interest of such
Stockholder’s spouse, (f) any Transfer upon the death of such Stockholder, (g) any Transfer occasioned by the incompetence of such Stockholder, or (h) any Transfer to a Stockholder’s spouse as a result of the termination of
the marital relationship. “Involuntary Transferee” shall have a corresponding meaning. 
 “IPO” has the
meaning set forth in the Recitals. 
 “Legal Process” has the meaning set forth in Section 3.2. 

“Loss” has the meaning set forth in Section 1.7(a). 

“Mandatory Distribution” means with respect to a Stockholder, any liquidation of, or distribution with respect to an equity
interest in, such Stockholder (including any distribution by a Stockholder to one or more of its limited partners) that is (i) required by Applicable Law, (ii) made solely to any limited partner of the Stockholder that is withdrawing from
such Stockholder in connection with a Regulatory Problem or (iii) in the case of the Entity Investors, required under the organizational documents or governing agreements of such Stockholder; provided that any general partner, managing
member, board of directors or similar governing body of such Stockholder (including in connection with any determination such Person has made that resulted in such requirement under such documents or agreement), and its equityholders, have taken all
reasonable efforts to avoid such required liquidation or distribution. 

  
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 “Material Subsidiary” means, as of any determination date, any Subsidiary of the
Company that, together with its Subsidiaries, has revenues representing 5% or more of the aggregate total revenues of the Company and its Subsidiaries for the most recently completed fiscal year or assets representing 5% or more of the aggregate
total assets of the Company and its Subsidiaries for the most recently completed fiscal year. 
 “Permitted Transferee”
means, as to any Stockholder: 
 (i)    the owners of such Stockholder in connection with a Mandatory Distribution or
any other liquidation of, or a distribution with respect to an equity interest in, such Stockholder (including any distribution by a Stockholder to its limited partners), 

(ii)    a Subsidiary of such Stockholder (other than any “portfolio company” described below), 

(iii)    any Person directly or indirectly Controlled by or under common Control with such Stockholder; and, in the case
of any CCMP Investor, (A) any limited partnership, limited liability company or other investment vehicle that is Controlled, sponsored or managed (including as a general partner or through the management of investments) by any CCMP Investor or
any of its Affiliates, or (B) any present or former managing director, general partner, director, limited partner, officer or employee of any entity described in clause (A) immediately above or any spouse, lineal descendant, sibling,
parent, heir, executor, administrator, trustee or beneficiary of any of the foregoing persons described in this clause (B), or 
 (iv) the
Company or any of its Subsidiaries; 
 provided that in no event shall (x) any “portfolio company” (as such term is customarily used
among institutional investors) of any Stockholder or any entity Controlled by any portfolio company of any Stockholder or (y) any Competitor constitute a “Permitted Transferee.” Any Stockholder shall also be a Permitted Transferee of
the Permitted Transferees of itself. Each Entity Investor shall be a Permitted Transferee of the other Entity Investor. 

“Person” means any individual, corporation, limited liability company, limited or general partnership, joint venture,
association, joint-stock company, trust, unincorporated organization, government or any agency or political subdivisions thereof or any Group comprised of two or more of the foregoing. 

“Piggyback Notice” has the meaning set forth in Section 1.3. 

“Piggyback Registration” has the meaning set forth in Section 1.3. 

“Potential Takedown Participant” has the meaning set forth in Section 1.2(b). 

“Public Offering” means an offering of Common Stock pursuant to a registration statement filed in accordance with the
Securities Act. 

  
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 “Registrable Securities” means (a) all shares of Common Stock, (b) any
other stock or securities that the Stockholders may be entitled to receive, or will have received pursuant to such Stockholders’ ownership of the Common Stock, in lieu of or in addition to Common Stock, or (c) any Equity Securities issued
or issuable directly or indirectly with respect to the securities referred to in the foregoing clause (a) or (b) by way of conversion or exchange thereof or share dividend or share split or in connection with a combination of shares,
recapitalization, reclassification, merger, amalgamation, arrangement, consolidation or other reorganization. As to any particular securities constituting Registrable Securities, such securities will cease to be Registrable Securities when
(x) they have been effectively registered or qualified for sale by prospectus filed under the Securities Act and disposed of in accordance with the related Registration Statement, (y) they have been sold pursuant to Rule 144 or another
exemption from registration under the Securities Act or (z) they are able to be sold by the Stockholder holding them without restriction as to volume or manner of sale pursuant to Rule 144 under the Securities Act. 

“Registration Expenses” has the meaning set forth in Section 1.6(a). 

“Registration Request” has the meaning set forth in Section 1.1(a). 

“Registration Statement” means any registration statement of the Company filed pursuant to the Securities Act that covers an
offering of any Registrable Securities, and all amendments and supplements to any such registration statement, including post-effective amendments, in each case including the prospectus contained therein, all exhibits thereto and all material
incorporated by reference therein. 
 “Regulatory Problem” means a change in Applicable Law that makes the investment by
the applicable limited partner in such Stockholder illegal for such limited partner. 
 “Representatives” means with
respect to any Person, any of such Person’s, or its Affiliates’, directors, officers, employees, general partners, Affiliates, direct or indirect shareholders, members or limited partners, attorneys, accountants, financial and other
advisers, and other agents and representatives. 
 “Rule 144” means Rule 144 under the Securities Act (or any successor
rule). 
 “Securities Act” means the Securities Act of 1933, as amended from time to time, and the rules and regulations
promulgated thereunder. 
 “Shelf Registration Statement” has the meaning set forth in Section 1.1(b). 

“Shelf Takedown Notice” has the meaning set forth in Section 1.2(b). 

“Shelf Takedown Request” has the meaning set forth in Section 1.2(a). 

“Short-Form Registrations” has the meaning set forth in Section 1.1(b). 

“Special Registration” means the registration of (a) Equity Securities solely registered on Form S-4 or Form S-8 or (b) shares of equity securities and/or options or other rights in respect thereof to be offered to directors, members of management, employees,
consultants or sales agents, distributors or similar representatives of the Company or its Subsidiaries or in connection with dividend reinvestment plans. 

  
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 “Stockholders” means (i) the Entity Investors and (ii) any other
holder of any Equity Securities that is a party to this Agreement on the Effective Date; provided that any Person shall cease to be a Stockholder if it no longer is the holder of any Equity Securities. 

“Stockholders’ Counsel” has the meaning set forth in Section 1.6(a). 

“Subsidiary” means each Person in which a Person owns or Controls, directly or indirectly, capital stock or other equity
interests representing more than 50% of the outstanding capital stock or other equity interests. 
 “Transfer” means,
directly or indirectly, to sell, transfer, assign, pledge, encumber, hypothecate or similarly dispose of, either voluntarily or involuntarily, or to enter into any contract, option or other arrangement or understanding with respect to the sale,
transfer, assignment, pledge, encumbrance, hypothecation or similar disposition of, any shares of Equity Securities owned by a Person or any rights to vote or options to acquire or dispose of any interest (including to a beneficial interest) in any
shares of Equity Securities owned by a Person. 
 “Transferee” means any Person to whom any Stockholder or any Transferee
thereof Transfers Equity Securities of the Company in accordance with the terms hereof. 
 “Underwritten Shelf Takedown”
means an underwritten Public Offering in which shares of Common Stock are sold to an underwriter or underwriters on a firm commitment basis for reoffer to the public, including via a block trade, under and pursuant to an effective Shelf Registration
Statement. 
 “Voting Securities” means, at any time, shares of any class of Equity Securities of the Company that are then
entitled to vote generally in the election of directors. 
 2.2.    Terms Generally. The words
“hereby”, “herein”, “hereof”, “hereunder” and words of similar import refer to this Agreement as a whole (including the Exhibits hereto) and not merely to the specific section, paragraph or clause in which
such word appears. All references herein to Articles, Sections and Exhibits shall be deemed references to Articles and Sections of, and Exhibits to, this Agreement unless the context shall otherwise require. The words “include”,
“includes” and “including” shall be deemed to be followed by the phrase “without limitation”. The definitions given for terms in this Article II and elsewhere in this Agreement shall apply equally to both the singular
and plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. References herein to any agreement or letter shall be deemed references to such agreement or
letter as it may be amended, restated or otherwise revised from time to time. 

  
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 ARTICLE III 

MISCELLANEOUS 

3.1.    Termination. This Agreement or any provision thereof may be terminated by written agreement of the Company
and the Stockholders as provided under Section 3.8; provided that this agreement shall terminate automatically upon the date on which no Holder holds any Registrable Securities, except for Section 1.7 and Articles II and III, which
shall survive any such termination. Nothing in this Agreement shall relieve any party from any liability for the breach of any obligations set forth in this Agreement. 

3.2.    Publicity. No Stockholder may issue any press release or otherwise make any public announcement or comment
with respect to the Company or any of its Subsidiaries, without the prior consent of the Board; provided that nothing herein shall prevent any party hereto from making such announcement or comment (a) upon the order of any court or
administrative agency, (b) upon the request or demand of any regulatory agency or authority having jurisdiction over such party, (c) to the extent required or compelled by applicable law or any legal process or required or requested
pursuant to subpoena, interrogatories or other discovery requests (any of the foregoing, a “Legal Process”); provided, further, that such party shall notify the other parties hereto, to the extent legally permissible,
of the proposed disclosure as far in advance of such disclosure as reasonably practicable. 

3.3.    Confidentiality. Each party hereto agrees to, and shall cause its Representatives to, keep confidential and
not divulge any Information, and to use, and cause its Representatives to use, such Information only in connection with the operation and preparation of tax returns of the Company and its Subsidiaries; provided that nothing herein shall
prevent any party hereto from disclosing such Information (a) pursuant to and as contemplated by Article I hereof, (b) pursuant to applicable law or a Legal Process, (c) to the extent necessary in connection with the exercise of any
remedy hereunder, (d) to other Stockholders, (e) to such party’s Representatives that in the reasonable judgment of such party need to know such Information, (f) to any Permitted Transferee in connection with a proposed Transfer
of Equity Securities from such Stockholder as long as such potential Transferee agrees to be bound by the provisions of this Section 3.3 as if it were a Stockholder or (g) in the case of the Entity Investors, (i) in connection with
financial or operating reports made available to the limited partners, investors, managers, members, representatives and advisors of the Entity Investors or any of their Affiliates, (ii) in compliance with the terms of the limited partnership
or other organizational documents of the Entity Investors or any of their Affiliates, or (iii) in connection with the marketing of investment funds managed or advised, directly or indirectly, by the Entity Investors or any of their Affiliates;
provided, further, that, in the case of clause (a), such party shall notify the other parties hereto of the proposed disclosure as far in advance of such disclosure as reasonably practicable and use reasonable efforts to ensure that
any Information so disclosed is accorded confidential treatment, when and if available. 
 3.4.    Compliance.
The Stockholders shall cooperate in good faith to procure that the Company take such necessary action and exercise all necessary powers so that the Company and its Subsidiaries are compliant with the provisions of the Securities Act and Exchange
Act, to the extent applicable to the Company or any such Subsidiary. 
 3.5.    Further Assurances. Each party
hereto shall do and perform or cause to be done and performed all such further acts and things, and shall execute and deliver all such further agreements, certificates, instruments and documents, as any other party hereto reasonably may request in
order to carry out the provisions of this Agreement and the consummation of the transactions contemplated hereby. With respect to any reference herein to any approval, consent or similar concept of the CCMP Investors, the approval, consent, etc., of
the CCMP Investors holding a majority of the Voting Securities held by all of the CCMP Investors shall satisfy any such approval, consent, etc., requirement. 

  
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 3.6.    No Recourse. Notwithstanding anything to the contrary in this
Agreement, the Company and each Stockholder agrees and acknowledges that, to the fullest extent permitted by Applicable Law, no recourse under this Agreement, or any documents or instruments delivered in connection with this Agreement, shall be had
against any current or future director, officer, employee, general or limited partner or member of any Stockholder or of any Affiliate or assignee thereof, whether by the enforcement of any assessment or by any legal or equitable proceeding, or by
virtue of any statute, regulation or other Applicable Law, it being expressly agreed and acknowledged that no personal liability whatsoever shall attach to, be imposed on or otherwise be incurred by any current or future officer, agent or employee
of any Stockholder or any current or future member of any Stockholder or any current or future director, officer, employee, partner or member of any Stockholder or of any Affiliate or assignee thereof, as such, for any obligation of any Stockholder
under this Agreement or any documents or instruments delivered in connection with this Agreement for any claim based on, in respect of or by reason of such obligations or their creation. 

3.7.    Amendment; Waivers, etc. This Agreement may be amended, and the Company may take any action herein
prohibited, or omit to perform any act herein required to be performed by it, only if any such amendment, action or omission to act, has been approved by Stockholders holding in excess of 75% of the then-outstanding Registrable Securities of the
Stockholders; provided that this Agreement may not be amended in a manner adversely affecting the rights or obligations of any Stockholder which does not adversely affect the rights or obligations of all similarly situated Stockholders in the
same manner without the consent of such Stockholder. The failure of any party to enforce any of the provisions of this Agreement shall in no way be construed as a waiver of such provisions and shall not affect the right of such party thereafter to
enforce each and every provision of this Agreement in accordance with its terms. Any Stockholder may waive (in writing) the benefit of any provision of this Agreement with respect to itself for any purpose. Any such waiver shall constitute a waiver
only with respect to the specific matter described in such writing and shall in no way impair the rights of the Stockholder granting such waiver in any other respect or at any other time. 

3.8.    Assignment. Except as contemplated by Section 1.10, neither this Agreement nor any right or obligation
arising under this Agreement may be assigned by any party without the prior written consent of the Entity Investors. Any purported assignment without such prior written consent will be void. 

3.9.    Binding Effect. This Agreement shall be binding upon and inure to the benefit of the parties hereto and
their respective heirs, successors and permitted assigns. 
 3.10.    No Third Party Beneficiaries. Except as
provided in Sections 1.7 and 3.6, nothing in this Agreement shall confer any rights upon any Person other than the parties hereto and each such party’s respective heirs, successors and permitted assigns. 

3.11.    Notices. All notices, requests, demands, waivers and other communications required or permitted to be
given under this Agreement shall be in writing and shall be deemed to have been duly given if (a) delivered personally, (b) mailed, by certified or registered mail 

  
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with postage prepaid, (c) sent by reputable overnight courier or (d) sent by fax or e-mail (provided a confirmation copy is sent by one of the
other methods set forth above), as follows (or to such other address as the party entitled to notice shall hereafter designate in accordance with the terms hereof): 

If to the Company, to it at: 

PQ Group Holdings Inc. 
 300
Lindenwood Drive 
 Valleybrooke Corporate Center 

Malvern, PA 19355-1740 

Attention: Joseph S. Koscinski 

Facsimile: (610) 651-4273 

E-mail: joe.koscinski@pqcorp.com 

with a copy to (which shall not constitute notice) each of the Entity Investors and their counsel at the addresses listed below. 

If to the CCMP Investors, to them at: 

CCMP Capital Advisors, LP 
 277
Park Avenue, 27th Floor 
 New York, New York 10172 

Attention: Richard Jansen, Esq. and Official Notice Clerk 

Facsimile: (212) 599-3481 

E-mail: richard.jansen@ccmpcapital.com 

with a copy to (which shall not constitute notice): 

Ropes & Gray LLP 

Prudential Tower 
 800 Boylston
Street 
 Boston, MA 02199-3600 

Attention: Craig E. Marcus, Esq. 

Facsimile: (617) 235-0514 

E-mail: craig.marcus@ropesgray.com 

If to the INEOS Investor, to it at: 

INEOS 
 Hawkslease, Chapel Lane

 Lyndhurst, Hampshire SO43 7FG 

Attention: Jonny Ginns 

Facsimile: +44 (0)23 8028 7069 

E-mail: jonny.ginns@ineos.com 

  
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 with a copy to (which shall not constitute notice): 

Cravath, Swaine & Moore LLP 

825 Eighth Avenue 
 New York,
New York 10019 
 Attention: Craig F. Arcella 

Facsimile: (212) 474-3700 

E-mail: carcella@cravath.com 

If to any other Stockholder, to its address set forth on the signature page of such Stockholder to this Agreement (or any joinder agreement) with a copy
(which shall not constitute notice) to any party so indicated thereon. All such notices, requests, demands, waivers and other communications shall be deemed to have been received (w) if by personal delivery, on the day delivered, (x) if by
certified or registered mail, on the day delivered, (y) if by overnight courier, on the day delivered, or (z) if by fax or e-mail, on the day delivered (provided the fax or e-mail is promptly confirmed by telephone confirmation thereof). 

3.12.    Severability. Any term or provision of this Agreement which is invalid, illegal or unenforceable in any
jurisdiction shall, as to that jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without rendering invalid, illegal or unenforceable the remaining terms and provisions of this Agreement or affecting the
validity, illegality or enforceability of any of the terms or provisions of this Agreement in any other jurisdiction. If any provision of this Agreement is so broad as to be unenforceable, the provision shall be interpreted to be only so broad as is
enforceable. Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the parties shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as
closely as possible in a mutually acceptable manner in order that the transactions contemplated herein are consummated as originally contemplated to the fullest extent possible. 

3.13.    Headings. The headings contained in this Agreement are for purposes of convenience only and shall not
affect the meaning or interpretation of this Agreement. 
 3.14.    Entire Agreement. This Agreement, together
with the Exhibits hereto, constitute the entire agreement and supersede all prior agreements and understandings, both written and oral, among the parties with respect to the subject matter hereof. 

3.15.    Governing Law. This Agreement will be governed by and construed in accordance with the laws of the State
of Delaware (regardless of the laws that might otherwise govern under applicable principles or rules of conflicts of law to the extent such principles or rules are not mandatorily applicable by statute and would require the application of the laws
of another jurisdiction). 
 3.16.    Consent to Jurisdiction. Each party irrevocably submits to the exclusive
jurisdiction of (a) the Supreme Court of the State of New York, New York County, and (b) the United States District Court for the Southern District of New York, and in each case any appellate court thereof, for the purposes of any suit,
action or other proceeding arising out of this Agreement or any transaction contemplated hereby (and agrees not to commence any such suit, action or other proceeding except in such courts). Each party further agrees that service of any process,
summons, notice or document by U.S. registered mail to such party’s respective address set forth or referred to in Section 3.11 shall, to the fullest extent permitted by Applicable Law, be effective service of process for any such suit,
action or other proceeding. Each party irrevocably 

  
 -21- 

 
and unconditionally waives any objection to the laying of venue of any such suit, action or other proceeding in (i) the Supreme Court of the State of New York, New York County, and
(ii) the United States District Court for the Southern District of New York, or, in each case, any appellate court thereof, that any such suit, action or other proceeding brought in any such court has been brought in an inconvenient forum.
Nothing in this Agreement will affect the right of any party to this Agreement to serve process in any other manner permitted by Applicable Law. 

3.17.    Waiver of Jury Trial. Each party hereby waives, to the fullest extent permitted by Applicable Law, any
right it may have to a trial by jury in respect of any suit, action or other proceeding arising out of this Agreement or any transaction contemplated hereby. Each party (a) certifies and acknowledges that no representative, agent or attorney of
any other party has represented, expressly or otherwise, that such other party would not, in the event of litigation, seek to enforce the foregoing waiver, and (b) acknowledges that it understands and has considered the implications of this
waiver and makes this waiver voluntarily, and that it and the other parties have been induced to enter into this Agreement by, among other things, the mutual waivers and certifications in this Section 3.17. 

3.18.    Enforcement. Each party hereto acknowledges that money damages would not be an adequate remedy in the
event that any of the covenants or agreements in this Agreement are not performed in accordance with its terms, and it is therefore agreed that in addition to and without limiting any other remedy or right it may have, the nonbreaching party will
have the right to an injunction, temporary restraining order or other equitable relief in any court of competent jurisdiction enjoining any such breach and enforcing specifically the terms and provisions hereof. In the event that the Company or one
or more Entity Investors shall file suit to enforce the covenants contained in this Agreement (or obtain any other remedy in respect of any breach thereof), the prevailing party in the suit shall be entitled to recover, in addition to all other
damages to which it may be entitled, the costs incurred by such party in conducting the suit, including reasonable attorney’s fees and expenses. 

3.19.    Counterparts; Facsimile Signatures. This Agreement may be executed in any number of counterparts
(including via facsimile or other electronic transmission), each of which shall be deemed an original, but all of which together shall constitute one instrument. 

[Remainder of page intentionally left blank] 

  
 -22- 

 IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement by their authorized
representatives as of the date first above written. 
  

			
	PQ GROUP HOLDINGS INC.

 
			
		
	By:	 	  

	Name:	 	
	Title:	 	

 
			
	
	CCMP CAPITAL INVESTORS III, L.P.

 
			
		
	By:	 	CCMP Capital Associates III, L.P.,
		 	its general partner
		
	By:	 	CCMP Capital Associates III GP, LLC,
		 	its general partner
		
	By:	 	  

	Name:	 	
	Title:	 	

 
			
	
	CCMP CAPITAL INVESTORS III (EMPLOYEE), L.P.

 
			
		
	By:	 	CCMP Capital Associates III, L.P.,
		 	its general partner
		
	By:	 	CCMP Capital Associates III GP, LLC,
		 	its general partner
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 [Signature Page to
A&R Stockholders Agreement] 

 
			
	QUARTZ CO-INVEST L.P.
		
	By:	 	CCMP Co-Invest III A GP, LLC,
		 	its general partner
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	CCMP CAPITAL INVESTORS III (AV-7), L.P.
		
	By:	 	CCMP Capital Associates III, L.P.,
		 	its general partner
		
	By:	 	CCMP Capital Associates III GP, LLC,
		 	its general partner
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	CCMP CAPITAL INVESTORS III (AV-8), L.P.
		
	By:	 	CCMP Capital Associates III, L.P.,
		 	its general partner
		
	By:	 	CCMP Capital Associates III GP, LLC,
		 	its general partner
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 [Signature Page to
A&R Stockholders Agreement] 

 
			
	CCMP CAPITAL INVESTORS III (AV-9), L.P.
		
	By:	 	CCMP Capital Associates III, L.P.,
		 	its general partner
		
	By:	 	CCMP Capital Associates III GP, LLC,
		 	its general partner
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	CCMP CAPITAL INVESTORS III (AV-10), L.P.
		
	By:	 	CCMP Capital Associates III, L.P.,
		 	its general partner
		
	By:	 	CCMP Capital Associates III GP, LLC,
		 	its general partner
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	INEOS INVESTMENTS PARTNERSHIP
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	  

	[stockholder]
	
	Notice Address:
	  

	  

	

  
 [Signature Page to
A&R Stockholders Agreement] 

 Exhibit A 

JOINDER AGREEMENT 
 TO THE 

STOCKHOLDERS AGREEMENT 
 By
execution of this signature page,                      hereby agrees to become a party to, be bound by the obligations of and receive the benefits of
that certain Stockholders Agreement, dated as of [●], 2017, by and among PQ Group Holdings Inc., a Delaware corporation, CCMP Capital Investors III, L.P., a Delaware limited partnership, CCMP Capital Investors III (Employee), L.P., a Delaware
limited partnership, Quartz Co-Invest L.P., a Delaware limited partnership, CCMP Capital Investors III (AV-7), L.P., a Delaware limited partnership, CCMP Capital
Investors III (AV-8), L.P., a Delaware limited partnership, CCMP Capital Investors III (AV-9), L.P., a Delaware limited partnership, CCMP Capital Investors III (AV-10), L.P., a Delaware limited partnership, INEOS Investments Partnership, a general partnership organized under the laws of England and Wales and the other parties thereto, as amended from time to time
thereafter, and shall be deemed to be a “Stockholder” for all purposes thereunder. 
  

			
	  

		
	By:	 	
                 

	Name:	 	
	Title:	 	
	
	Notice Address:
	
	  

	
	  

 Accepted: 
  

			
	PQ GROUP HOLDINGS INC.
		
	By:	 	
                     

	Name:	 	
	Title:EX-10.9

 Exhibit 10.9 

INDEMNIFICATION AGREEMENT 

This Indemnification Agreement (“Agreement”) is made and entered into as of [●] by and among PQ Group Holdings Inc., a
Delaware corporation (the “Company”), PQ Holdings Inc., a Delaware corporation, CPQ Midco I Corporation, a Delaware corporation (together with PQ Holdings Inc., the “Intermediate Holdcos”), PQ Corporation, a
Pennsylvania corporation (“Opco”), Eco Services Operations Corp., a Delaware corporation (“Eco”), Potters Industries, LLC, a Delaware limited liability company (“Potters” and together with the
Company, the Intermediate Holdcos, Opco and Eco, the “PQ Companies” and each a “PQ Company”), and [●] (“Indemnitee”). 

WHEREAS, in light of the litigation costs and risks to directors and officers resulting from their service to companies, and the desire of the
PQ Companies to attract and retain qualified individuals to serve as directors and officers, it is reasonable, prudent and necessary for each of the PQ Companies to indemnify and advance expenses on behalf of its and the other PQ Companies’
directors and officers to the fullest extent permitted under Applicable Law so that they will serve or continue to serve the PQ Companies free from undue concern regarding such risks; 

WHEREAS, the PQ Companies have requested that Indemnitee serve or continue to serve as a director and/or an officer of one or more of the PQ
Companies and may have requested or may in the future request that Indemnitee serve one or more PQ Entities (as hereinafter defined) as a director or an officer or in other capacities; 

WHEREAS, one of the conditions that Indemnitee requires in order to serve as a director and/or an officer of one or more of the PQ Companies
is that Indemnitee be so indemnified; and 
 WHEREAS, Indemnitee may have certain rights to indemnification, advancement of expenses and/or
insurance provided by one or more of the Designating Stockholders (as hereinafter defined) (or their affiliates) and/or any insurer providing insurance coverage under any policy purchased or maintained by such Designating Stockholders (or their
affiliates), which Indemnitee, the PQ Companies and the Designating Stockholders (or their affiliates) intend to be secondary to the primary obligation of the PQ Companies to indemnify Indemnitee as provided herein, with the PQ Companies’
acknowledgement of and agreement to the foregoing being a material condition to Indemnitee’s willingness to serve as a director and/or officer of one or more of the PQ Companies. 

NOW, THEREFORE, in consideration of the premises and the covenants contained herein, the PQ Companies and Indemnitee do hereby covenant and
agree as follows: 
 1. Services by Indemnitee. Indemnitee agrees to serve as a director and/or an officer of one or more of the
PQ Companies. Indemnitee may at any time and for any reason resign from such position (subject to any contractual obligation the Indemnitee may have under any other agreement). 

2. Indemnification — General. On the terms and subject to the conditions of this Agreement, the PQ Companies shall, to the
fullest extent permitted under Applicable Law, 

  
 - 1 - 

 
indemnify Indemnitee with respect to, and hold Indemnitee harmless from and against, all losses, damages, liabilities, judgments, fines, penalties, costs, amounts paid in settlement, Expenses (as
hereinafter defined) and other amounts that Indemnitee reasonably incurs and that result from, arise in connection with or are by reason of Indemnitee’s Corporate Status (as hereinafter defined), including all interest, assessments and other
charges paid or payable in connection therewith, and shall advance Expenses to Indemnitee. The obligations of the PQ Companies under this Agreement (a) are joint and several obligations of each PQ Company, (b) shall continue after such
time as Indemnitee ceases to serve as a director or an officer of the PQ Companies or in any other Corporate Status and (c) include, without limitation, claims for monetary damages against Indemnitee in respect of any actual or alleged
liability or other loss of Indemnitee, to the fullest extent permitted under Applicable Law. A limitation under law of any PQ Company on providing indemnification or an advance of expenses to Indemnitee shall not limit the indemnification and
advancement obligations of any PQ Company not so limited. 
 3. Proceedings Other Than Proceedings by or in the Right of the PQ
Companies. If in connection with or by reason of Indemnitee’s Corporate Status, Indemnitee was, is, or is threatened to be made, a party to or a participant in any Proceeding (as hereinafter defined) other than a Proceeding by or in the
right of any of the PQ Companies to procure a judgment in its favor, the PQ Companies shall, to the fullest extent permitted under Applicable Law, indemnify Indemnitee with respect to, and hold Indemnitee harmless from and against, all losses,
damages, liabilities, judgments, fines, penalties, costs, amounts paid in settlement, Expenses and other amounts that Indemnitee reasonably incurs in connection with such Proceeding or any claim, issue or matter therein, including all interest,
assessments and other charges paid or payable in connection therewith. 
 4. Proceedings by or in the Right of the PQ Companies.
If in connection with or by reason of Indemnitee’s Corporate Status, Indemnitee was, is, or is threatened to be made, a party to or a participant in any Proceeding by or in the right of any of the PQ Companies to procure a judgment in such PQ
Company’s favor, the PQ Companies shall, to the fullest extent permitted under Applicable Law, indemnify Indemnitee with respect to, and hold Indemnitee harmless from and against, all Expenses reasonably incurred by Indemnitee or on behalf of
Indemnitee in connection with such Proceeding or any claim, issue or matter therein. 
 5. Mandatory Indemnification in Case of
Successful Defense. Notwithstanding any other provision of this Agreement, to the extent that Indemnitee is, by reason of Indemnitee’s Corporate Status, a party to (or a participant in) and is successful, on the merits or otherwise, in
defense of any Proceeding (including, without limitation, any Proceeding brought by or in the right of any PQ Company), the PQ Companies shall, to the fullest extent permitted under Applicable Law, indemnify Indemnitee with respect to, and hold
Indemnitee harmless from and against, all Expenses reasonably incurred by Indemnitee or on behalf of Indemnitee in connection therewith. If Indemnitee is not wholly successful in defense of such Proceeding but is successful, on the merits or
otherwise, as to one or more but less than all claims, issues or matters in such Proceeding, the PQ Companies shall, to the fullest extent permitted under Applicable Law, indemnify Indemnitee against all Expenses reasonably incurred by Indemnitee or
on behalf of Indemnitee in connection with each successfully resolved claim, issue or matter. For purposes of this Section 5 and without limitation, the termination of any claim, issue or matter in such a Proceeding by
dismissal, with or without prejudice, on substantive or procedural 

  
 - 2 - 

 
grounds, or settlement of any such claim prior to a final judgment by a court of competent jurisdiction with respect to such Proceeding, shall be deemed to be a successful result as to such
claim, issue or matter; provided, however, that any settlement of any claim, issue or matter in such a Proceeding shall not be deemed to be a successful result as to such claim, issue or matter if such settlement is effected by
Indemnitee without the PQ Companies’ prior written consent, which consent shall not be unreasonably withheld, delayed or conditioned. 

6. Partial Indemnification. If Indemnitee is entitled under any provision of this Agreement or otherwise to indemnification by any
of the PQ Companies for some or a portion of the losses, damages, liabilities, judgments, fines, penalties, costs, amounts paid in settlement, and Expenses, including all interest, assessments and other charges paid or payable in connection
therewith, incurred by Indemnitee or on behalf of Indemnitee in connection with a Proceeding or any claim, issue or matter therein, in whole or in part, the PQ Companies shall, to the fullest extent permitted under Applicable Law, indemnify
Indemnitee to the fullest extent to which Indemnitee is entitled to such indemnification. 
 7. Indemnification for Additional
Expenses Incurred to Secure Recovery or as Witness. 
 (a) The PQ Companies shall, to the fullest extent permitted under Applicable
Law, indemnify Indemnitee with respect to, and hold Indemnitee harmless from and against, any and all Expenses and, if requested by Indemnitee, shall advance on an as-incurred basis (as provided in
Section 8 of this Agreement) such Expenses to Indemnitee, which are incurred by Indemnitee in connection with any action or proceeding or part thereof brought by Indemnitee for (i) indemnification or advance payment of
Expenses by the PQ Companies under this Agreement, any other agreement, the Certificate of Incorporation, By-laws, limited liability company agreement or other governing document of the applicable PQ Company
as now or hereafter in effect; or (ii) recovery under any director and officer liability insurance policy maintained by any PQ Entity. 

(b) To the extent that Indemnitee is, by reason of Indemnitee’s Corporate Status, a witness (or is forced or asked to respond to
discovery requests) in any Proceeding to which Indemnitee is not a party, the PQ Companies shall, to the fullest extent permitted under Applicable Law, indemnify Indemnitee with respect to, and hold Indemnitee harmless from and against, and the PQ
Companies shall advance on an as-incurred basis (as provided in Section 8 of this Agreement), all Expenses reasonably incurred by Indemnitee or on behalf of Indemnitee in connection
therewith. 
 8. Advancement of Expenses. The PQ Companies shall, to the fullest extent permitted under Applicable Law, pay on a
current and as-incurred basis all Expenses incurred by Indemnitee in connection with any Proceeding in any way connected with, resulting from or relating to Indemnitee’s Corporate Status. Such Expenses
shall be paid in advance of the final disposition of such Proceeding, without regard to whether Indemnitee will ultimately be entitled to be indemnified for such Expenses and without regard to whether an Adverse Determination (as hereinafter
defined) has been or may be made. Upon submission of a request for advancement of Expenses pursuant to Section 9(c) of this Agreement, Indemnitee shall be entitled to advancement of Expenses as provided in this
Section 8, and such advancement of 

  
 - 3 - 

 
Expenses shall continue until such time (if any) as there is a final non-appealable judicial determination that Indemnitee is not entitled to
indemnification. Indemnitee shall repay such amounts advanced if and to the extent that it shall ultimately be determined in a decision by a court of competent jurisdiction from which no appeal can be taken that Indemnitee is not entitled to be
indemnified by the PQ Companies for such Expenses. Such repayment obligation shall be unsecured and shall not bear interest. The PQ Companies shall not impose on Indemnitee additional conditions to advancement or require from Indemnitee additional
undertakings regarding repayment. Indemnitee shall, in all events, be entitled to advancement of Expenses, without regard to Indemnitee’s ultimate entitlement to indemnification, until the final determination of the Proceeding. 

9. Indemnification Procedures. 

(a) Notice of Proceeding. Indemnitee agrees to notify the PQ Companies promptly upon being served with any summons, citation,
subpoena, complaint, indictment, information or other document relating to any Proceeding or matter which may be subject to indemnification or advancement of Expenses hereunder. Any failure by Indemnitee to notify any PQ Company will not relieve the
PQ Companies of their advancement or indemnification obligations under this Agreement unless, and only to the extent that, the PQ Companies can establish that such omission to notify resulted in actual and material prejudice to them, which prejudice
cannot be reversed or otherwise eliminated without any material negative effect on the PQ Companies, and the omission to notify the PQ Companies will, in any event, not relieve any PQ Company from any liability which it may have to indemnify
Indemnitee otherwise than under this Agreement. If, at the time of receipt of any such notice, the PQ Companies have director and officer liability insurance policies in effect, the PQ Companies will promptly notify the relevant insurers in
accordance with the procedures and requirements of such policies. 
 (b) Defense; Settlement. Indemnitee shall have the sole
right and obligation to control the defense or conduct of any claim or Proceeding with respect to Indemnitee. The PQ Companies shall not, without the prior written consent of Indemnitee, which may be provided or withheld in Indemnitee’s sole
discretion, effect any settlement of any Proceeding against Indemnitee or which, in the reasonable opinion of Independent Counsel (as hereinafter defined), could have been brought against Indemnitee or which potentially or actually imposes any cost,
liability, exposure or burden on Indemnitee unless (i) such settlement solely involves the payment of money or performance of any obligation by persons other than Indemnitee and includes an unconditional, full release of Indemnitee by all
relevant parties from all liability on any matters that are the subject of such Proceeding and an acknowledgment that Indemnitee denies all wrongdoing in connection with such matters and (ii) the PQ Companies have fully indemnified the
Indemnitee with respect to, and held Indemnitee harmless from and against, all Expenses and other amounts incurred by Indemnitee or on behalf of Indemnitee in connection with such Proceeding. The PQ Companies shall not be obligated to indemnify
Indemnitee against amounts paid in settlement of a Proceeding against Indemnitee if such settlement is effected by Indemnitee without the PQ Companies’ prior written consent, which consent shall not be unreasonably withheld, delayed or
conditioned, unless such settlement solely involves the payment of money or performance of any obligation by persons other than the PQ Companies and includes an unconditional release of the PQ Companies by any party to such Proceeding other than the
Indemnitee from all liability on any matters that are the subject of such Proceeding and an acknowledgment that the PQ Companies deny all wrongdoing in connection with such matters. 

  
 - 4 - 

 (c) Request for Advancement; Request for Indemnification. 

(i) To obtain advancement of Expenses under this Agreement, Indemnitee shall submit to the PQ Companies a written request therefor,
together with such invoices or other supporting information as may be reasonably requested by the PQ Companies and reasonably available to Indemnitee, and an unsecured written undertaking to repay amounts advanced only to the extent that it is
ultimately determined that Indemnitee is not entitled to be indemnified by any of the PQ Companies. The PQ Companies shall make advance payment of Expenses to Indemnitee no later than five (5) business days after receipt of the written request
for advancement (and each subsequent request for advancement) by Indemnitee. If, at the time of receipt of any such written request for advancement of Expenses, the PQ Companies have director and officer insurance policies in effect, the PQ
Companies shall promptly notify the relevant insurers in accordance with the procedures and requirements of such policies. The PQ Companies shall thereafter keep such director and officer insurers informed of the status of the Proceeding or other
claim (with assistance from the Indemnitee as reasonably required) and take such other actions, as appropriate to secure coverage of Indemnitee for such claim. 

(ii) To obtain indemnification under this Agreement, at any time before or after submission of a request for advancement pursuant to
Section 9(c)(i) of this Agreement, Indemnitee may submit a written request for indemnification hereunder. The time at which Indemnitee submits a written request for indemnification shall be determined by the Indemnitee in
the Indemnitee’s sole discretion. Once Indemnitee submits such a written request for indemnification (and only at such time that Indemnitee submits such a written request for indemnification), a Determination (as hereinafter defined) shall
thereafter be made, as provided in and only to the extent required by Section 9(d) of this Agreement. In no event shall a Determination be made, or required to be made, as a condition to or otherwise in connection with any
advancement of Expenses pursuant to Section 8 and Section 9(c)(i) of this Agreement. If, at the time of receipt of any such request for indemnification, the PQ Companies have director and officer
insurance policies in effect, the PQ Companies shall promptly notify the relevant insurers and take such other actions as necessary or appropriate to secure coverage of Indemnitee for such claim in accordance with the procedures and requirements of
such policies. 
 (d) Determination. The PQ Companies agree that Indemnitee shall be indemnified to the fullest extent permitted
under Applicable Law and that no Determination shall be required in connection with such indemnification unless specifically required by Applicable Law which cannot be waived. In no event shall a Determination be required in connection with
indemnification for Expenses pursuant to Section 7 of this Agreement or incurred in connection with any Proceeding or portion thereof with respect to which Indemnitee has been successful on the merits or otherwise. Any
decision that a Determination is required by Applicable Law in connection with any other indemnification of Indemnitee, and any such Determination, shall be made within twenty (20) days after receipt of Indemnitee’s written request for
indemnification pursuant to Section 9(c)(ii) of this Agreement and such Determination shall be made either (i) by the Disinterested Directors (as 

  
 - 5 - 

 
hereinafter defined), even though less than a quorum, so long as Indemnitee does not request that such Determination be made by Independent Counsel (as hereinafter defined), or (ii) if so
requested by Indemnitee, in Indemnitee’s sole discretion, by Independent Counsel in a written opinion to the PQ Companies and Indemnitee. If a Determination is made that Indemnitee is entitled to indemnification, payment to Indemnitee shall be
made within five (5) business days after such Determination. Indemnitee shall reasonably cooperate with the person, persons or entity making such determination with respect to Indemnitee’s entitlement to indemnification, including
providing to such person, persons or entity upon reasonable advance request any documentation or information which is not privileged or otherwise protected from disclosure and which is reasonably available to Indemnitee and reasonably necessary to
such Determination. Any Expenses incurred by Indemnitee in so cooperating with the Disinterested Directors or Independent Counsel, as the case may be, making such determination shall be advanced and borne by the PQ Companies (irrespective of the
Determination as to Indemnitee’s entitlement to indemnification) and each PQ Company is liable to indemnify and hold Indemnitee harmless therefrom. If the person, persons or entity empowered or selected under this
Section 9(d) to determine whether Indemnitee is entitled to indemnification shall not have made a determination within twenty (20) days after receipt by the PQ Companies of the request therefor, the requisite
determination of entitlement to indemnification shall, to the fullest extent not prohibited by Applicable Law, be deemed to have been made and Indemnitee shall be entitled to such indemnification, absent (i) a misstatement by Indemnitee of a
material fact or an omission of a material fact necessary to make Indemnitee’s statement not materially misleading in connection with the request for indemnification that actually prejudices the PQ Companies, or (ii) a prohibition of such
indemnification under Applicable Law; provided, however, that such twenty (20) day period may be extended for a reasonable time, not to exceed an additional twenty (20) days, if the person, persons or entity making the
determination with respect to entitlement to indemnification in good faith requires such additional time for the obtaining or evaluating of documentation and/or information relating thereto; and provided, further, that the foregoing
provisions of this Section 9(d) shall not apply if the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to Section 9(e) of this Agreement. 

(e) Independent Counsel. In the event Indemnitee requests that the Determination be made by Independent Counsel pursuant to
Section 9(d) of this Agreement, the Independent Counsel shall be selected as provided in this Section 9(e). The Independent Counsel shall be selected by Indemnitee (unless Indemnitee shall request
that such selection be made by the Board of Directors, in which event the Board of Directors shall make such selection on behalf of the PQ Companies, subject to the remaining provisions of this Section 9(e)), and Indemnitee
or the PQ Companies, as the case may be, shall give written notice to the other, advising the PQ Companies or Indemnitee of the identity of the Independent Counsel so selected. The PQ Companies or Indemnitee, as the case may be, may, within five
(5) days after such written notice of selection shall have been received, deliver to Indemnitee or the PQ Companies, as the case may be, a written objection to such selection; provided, however, that such objection may be asserted
only on the ground that the Independent Counsel so selected does not meet the requirements of “Independent Counsel” as defined in Section 15 of this Agreement, and the objection shall set forth with particularity
the factual basis of such assertion. Absent a proper and timely objection, the person so selected shall act as Independent Counsel. If a written objection is so made and substantiated, the Independent Counsel so selected may not serve as Independent
Counsel unless and until such objection is withdrawn or a court of competent 

  
 - 6 - 

 
jurisdiction has determined that such objection is without merit. If, within ten (10) days after submission by Indemnitee of a written request for indemnification pursuant to
Section 9(c)(ii) of this Agreement and after a request for the appointment of Independent Counsel has been made, no Independent Counsel shall have been selected and not objected to, either the PQ Companies or Indemnitee may
petition a court of competent jurisdiction for resolution of any objection which shall have been made by the PQ Companies or Indemnitee to the other’s selection of Independent Counsel and/or for the appointment as Independent Counsel of a
person selected by the court or by such other person as the court shall designate, and the person with respect to whom all objections are so resolved or the person so appointed shall act as Independent Counsel under
Section 9(d) of this Agreement. Upon the due commencement of any judicial proceeding or arbitration pursuant to Section 9(f) of this Agreement, Independent Counsel shall be discharged and relieved
of any further responsibility in such capacity (subject to the applicable standards of professional conduct then prevailing). Any expenses incurred by or in connection with the appointment of Independent Counsel shall be borne by the PQ Companies
(irrespective of the Determination of Indemnitee’s entitlement to indemnification) and not by Indemnitee. 
 (f) Consequences
of Determination; Remedies of Indemnitee. The PQ Companies shall be bound by and shall have no right to challenge a Favorable Determination. If an Adverse Determination is made, or if for any other reason the PQ Companies do not make timely
indemnification payments or advances of Expenses, Indemnitee shall have the right to commence a Proceeding before a court of competent jurisdiction to challenge such Adverse Determination and/or to require the PQ Companies to make such payments or
advances (and the Company shall have the right to defend its position in such Proceeding and to appeal any adverse judgment in such Proceeding). Indemnitee shall be entitled to be indemnified for all Expenses incurred in connection with such a
Proceeding and to have such Expenses advanced by the Company in accordance with Section 8 of this Agreement. If Indemnitee fails to challenge an Adverse Determination within twenty (20) business days, or if Indemnitee
challenges an Adverse Determination and such Adverse Determination has been upheld by a final judgment of a court of competent jurisdiction from which no appeal can be taken, then, to the extent and only to the extent required by such Adverse
Determination or final judgment, the PQ Companies shall not be obligated to indemnify Indemnitee under this Agreement. 

(g) Presumptions; Burden and Standard of Proof. The parties intend and agree that, to the extent permitted under Applicable Law,
in connection with any Determination with respect to Indemnitee’s entitlement to indemnification hereunder by any person, including a court: 

(i) it will be presumed that Indemnitee is entitled to indemnification under this Agreement (notwithstanding any Adverse Determination),
and the PQ Entities or any other person or entity challenging such right will have the burden of proof to overcome that presumption in connection with the making by any person, persons or entity of any determination contrary to that presumption;

 (ii) the termination of any action, suit or proceeding by judgment, order, settlement, conviction, or upon a plea of
nolo contendere or its equivalent, shall not, of itself, create a presumption that Indemnitee did not act in good faith and in a manner which Indemnitee reasonably believed to be in or not opposed to the best interests of
the applicable PQ Entity, and, with respect to any criminal action or proceeding, had reasonable cause to believe that Indemnitee’s conduct was unlawful; 

  
 - 7 - 

 (iii) Indemnitee will be deemed to have acted in good faith if Indemnitee’s action is
based on the records or books of account of the applicable PQ Entity, including financial statements, or on information supplied to Indemnitee by the officers, employees or committees of the board of directors of the applicable PQ Entity, or on the
advice of legal counsel or other advisors (including financial advisors and accountants) for the applicable PQ Entity or on information or records given in reports made to the applicable PQ Entity by an independent certified public accountant or by
an appraiser or other expert or advisor selected by the applicable PQ Entity; and 
 (iv) the knowledge and/or actions, or failure to
act, of any director, officer, agent or employee of any of the PQ Entities or relevant enterprises will not be imputed to Indemnitee in a manner that limits or otherwise adversely affects Indemnitee’s rights hereunder. 

The provisions of this Section 9(g) shall not be deemed to be exclusive or to limit in any way the other
circumstances in which Indemnitee may be deemed to have met the applicable standard of conduct set forth in this Agreement. 

10. Remedies of Indemnitee. 

(a) In the event that (i) a determination is made pursuant to Section 9(d) of this Agreement that
Indemnitee is not entitled to indemnification under this Agreement, (ii) advancement of Expenses is not timely made pursuant to Section 8 and Section 9(c)(i) of this Agreement, (iii) no
determination of entitlement to indemnification shall have been made pursuant to Section 9(d) of this Agreement within twenty (20) days after receipt by the PQ Companies of the request for indemnification,
(iv) payment of indemnification is not made pursuant to Section 5, 6 or 7 of this Agreement within five (5) business days after receipt by the PQ Companies of a written request therefor,
(v) payment of indemnification pursuant to Section 3, 4 or 7 of this Agreement is not made within five (5) business days after a determination has been made that Indemnitee is entitled to
indemnification or (vi) the PQ Companies or any other person takes or threatens to take any action to declare this Agreement void or unenforceable, or institutes any litigation or other action or Proceeding designed to deny, or to recover from,
the Indemnitee the benefits provided or intended to be provided to the Indemnitee hereunder, Indemnitee shall be entitled to an adjudication by a court of his entitlement to such indemnification or advancement of Expenses. Alternatively, Indemnitee,
at his option, may seek an award in arbitration to be conducted by a single arbitrator pursuant to the Commercial Arbitration Rules of the American Arbitration Association. The PQ Companies shall not oppose Indemnitee’s right to seek any such
adjudication or award in arbitration. 
 (b) In the event that a determination shall have been made pursuant to
Section 9(d) of this Agreement that Indemnitee is not entitled to indemnification, any judicial proceeding or arbitration commenced pursuant to this Section 10 shall be conducted in all respects as
a de novo trial, or arbitration, on the merits, in which (i) Indemnitee shall not be prejudiced by reason of that adverse determination, and (ii) the PQ Companies shall bear the burden of establishing that Indemnitee is not
entitled to indemnification. 

  
 - 8 - 

 (c) If a determination shall have been made pursuant to
Section 9(d) of this Agreement that Indemnitee is entitled to indemnification, the PQ Companies shall be bound by such determination in any judicial proceeding or arbitration commenced pursuant to this
Section 10, absent (i) a misstatement by Indemnitee of a material fact or an omission of a material fact necessary to make Indemnitee’s statement not materially misleading in connection with the request for
indemnification that actually prejudices the PQ Companies, or (ii) a prohibition of such indemnification under Applicable Law. 

(d) The PQ Companies shall, to the fullest extent not prohibited by Applicable Law, be precluded from asserting in any judicial
proceeding or arbitration commenced pursuant to this Section 10 that the procedures and presumptions of this Agreement are not valid, binding and enforceable and shall stipulate in any such court or before any such
arbitrator that the PQ Companies are bound by all the provisions of this Agreement. 
 11. Insurance; Subrogation; Other Rights of
Recovery, etc. 
 (a) Each PQ Company shall use its reasonable best efforts to purchase and maintain a policy or policies of
insurance with reputable insurance companies with A.M. Best ratings of “A” or better, providing Indemnitee with coverage for any liability asserted against, and incurred by, Indemnitee or on Indemnitee’s behalf by reason of
Indemnitee’s Corporate Status, or arising out of Indemnitee’s status as such, whether or not any such PQ Company would have the power to indemnify Indemnitee against such liability. Such insurance policies shall have coverage terms and
policy limits at least as favorable to Indemnitee as the insurance coverage provided to any other director or officer of the PQ Companies. If any PQ Company has such insurance in effect at the time it receives from Indemnitee any notice of the
commencement of an action, suit, proceeding or other claim, such PQ Company shall give prompt notice of the commencement of such action, suit, proceeding or other claim to the insurers and take such other actions in accordance with the procedures
set forth in the policy as required or appropriate to secure coverage of Indemnitee for such action, suit, proceeding or other claim. Such PQ Company shall thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of
Indemnitee, all amounts payable as a result of such action, suit, proceeding or other claim in accordance with the terms of such policy. Such PQ Company shall continue to provide such insurance coverage to Indemnitee for a period of at least ten
(10) years after Indemnitee ceases to serve as a director or an officer or in any other Corporate Status. 
 (b) In the event of
any payment by any PQ Company under this Agreement, such PQ Company shall be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee against any other PQ Entity, and Indemnitee hereby agrees, as a condition to
obtaining any advancement or indemnification from the PQ Companies, to assign to such PQ Company all of Indemnitee’s rights to obtain from such other PQ Entity such amounts to the extent that they have been paid by such PQ Company to or for the
benefit of Indemnitee as advancement or indemnification under this Agreement and are adequate to indemnify Indemnitee with respect to the costs, Expenses or other items to the full extent that Indemnitee is entitled to indemnification or other
payment hereunder; and Indemnitee will (upon request by the PQ Companies) execute all papers required and use reasonable best efforts to take all action reasonably necessary to secure such rights, including execution of such documents as are
necessary to enable such PQ Company to bring suit or enforce such rights. 

  
 - 9 - 

 (c) Each of the PQ Companies hereby unconditionally and irrevocably waives, relinquishes and
releases, and covenants and agrees not to exercise (and to cause each of the other PQ Entities not to exercise), any rights that such PQ Company may now have or hereafter acquire against any Designating Stockholder (or former Designating
Stockholder), insurer of such Designating Stockholder (or former Designating Stockholder) or Indemnitee that arise from or relate to the existence, payment, performance or enforcement of the PQ Companies’ obligations under this Agreement or
under any other indemnification agreement (whether pursuant to contract, by-laws or charter) with any person or entity, including, without limitation, any right of subrogation (whether pursuant to contract or
common law), reimbursement, exoneration, contribution or indemnification, or to be held harmless, and any right to participate in any claim or remedy of Indemnitee against any Designating Stockholder (or former Designating Stockholder) or
Indemnitee, whether or not such claim, remedy or right arises in equity or under contract, statute or common law, including, without limitation, the right to take or receive from any Designating Stockholder (or former Designating Stockholder),
insurer of such Designating Stockholder (or former Designating Stockholder) or Indemnitee, directly or indirectly, in cash or other property or by set-off or in any other manner, payment or security on account
of such claim, remedy or right. 
 (d) The PQ Companies shall not be liable to pay or advance to Indemnitee any amounts otherwise
indemnifiable under this Agreement or under any other indemnification agreement if, and to the extent that, Indemnitee has otherwise actually received such payment under any insurance policy, contract, agreement or otherwise; provided,
however, that (i) the PQ Companies hereby agree that they are the indemnitors of first resort under this Agreement and under any other indemnification agreement (i.e., their obligations to Indemnitee under this Agreement or any other
agreement or undertaking to provide advancement and/or indemnification to Indemnitee are primary and any obligation of any Designating Stockholder (or any affiliate thereof other than any PQ Entity) and/or any obligation of any insurer providing
insurance coverage under any policy purchased or maintained by such Designating Stockholders (or by any affiliate thereof, other than any PQ Entity) to provide advancement or indemnification for the same Expenses, liabilities, judgments, penalties,
fines and amounts paid in settlement (including all interest, assessments and other charges paid or payable in connection with or in respect of such Expenses, liabilities, judgments, penalties, fines and amounts paid in settlement) incurred by
Indemnitee are secondary, (ii) the PQ Companies shall be required to advance the full amount of expenses incurred by any such Indemnitee and shall be liable for the full amount of all liability and loss suffered by such Indemnitee (including,
but not limited to, Expenses, judgments, fines and amounts paid in settlement actually and reasonably incurred by such Indemnitee in connection with such Proceeding), without regard to any rights any such Indemnitee may have against any Designating
Stockholder or against any insurance carrier providing insurance coverage to Indemnitee under any insurance policy issued to a Designating Stockholder and (iii) if any Designating Stockholder (or any affiliate thereof other than any PQ Entity)
pays or causes to be paid, for any reason, any amounts otherwise indemnifiable hereunder or under any other indemnification agreement (whether pursuant to contract, by-laws or charter) with Indemnitee, then
(x) such Designating Stockholder (or such affiliate, as the case may be) shall be fully subrogated to all rights of Indemnitee with respect to such payment and (y) the PQ Companies shall fully indemnify, reimburse and hold harmless such
Designating Stockholder (or such other affiliate) for all such payments actually made by such Designating Stockholder (or such other affiliate). 

  
 - 10 - 

 (e) The PQ Companies’ obligation to indemnify or advance Expenses hereunder to
Indemnitee in respect of or relating to Indemnitee’s service at the request of any of the PQ Companies as a director, officer, employee, fiduciary, trustee, representative, partner or agent of any other PQ Entity shall be reduced by any amount
Indemnitee has actually received as payment of indemnification or advancement of Expenses from such other PQ Entity, except to the extent that such indemnification payments and advance payment of Expenses when taken together with any such amount
actually received from other PQ Entities or under director and officer insurance policies maintained by one or more PQ Entities are inadequate to fully pay all costs, Expenses or other items to the full extent that Indemnitee is otherwise entitled
to indemnification or other payment hereunder. 
 (f) Except as provided in Sections 11(c), 11(d) and 11(e) of
this Agreement, the rights to indemnification and advancement of Expenses as provided by this Agreement shall not be deemed exclusive of, and shall be considered supplemental to, any other rights to which Indemnitee may at any time, whenever
conferred or arising, be entitled under Applicable Law, under the PQ Entities’ Certificates of Incorporation or By-Laws, or under any other agreement, vote of stockholders or resolution of directors of
any PQ Entity, or otherwise. Indemnitee’s rights under this Agreement are present contractual rights that fully vest upon Indemnitee’s first service as a director or an officer of any of the PQ Companies. The Parties hereby agree that
Sections 11(c), 11(d) and 11(e) of this Agreement shall be deemed exclusive and shall be deemed to modify, amend and clarify any right to indemnification or advancement provided to Indemnitee under any other contract, agreement
or document with any PQ Entity. 
 (g) No amendment, alteration or repeal of this Agreement or of any provision hereof shall limit or
restrict any right of Indemnitee under this Agreement in respect of any action taken or omitted by such Indemnitee in Indemnitee’s Corporate Status prior to such amendment, alteration or repeal. To the extent that a change in the General
Corporation Law of the State of Delaware (or other Applicable Law), whether by statute or judicial decision, permits greater indemnification or advancement of Expenses than would be afforded currently under the PQ Entities’ Certificates of
Incorporation or By-Laws and this Agreement, it is the intent of the parties hereto that Indemnitee enjoy by this Agreement the greater benefits so afforded by such change. The assertion or employment of any
right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other right or remedy. 

12. Employment Rights; Successors; Third Party Beneficiaries. 

(a) This Agreement shall not be deemed an employment contract between the PQ Companies and Indemnitee. This Agreement shall continue in
force as provided above after Indemnitee has ceased to serve as a director or an officer of the PQ Companies or any other Corporate Status. 

(b) This Agreement shall be binding upon each of the PQ Companies and their successors and assigns and shall inure to the benefit of
Indemnitee and Indemnitee’s heirs, executors and administrators. If any of the PQ Companies or any of their respective successors 

  
 - 11 - 

 
or assigns shall (i) consolidate with or merge into any other corporation or entity and shall not be the continuing or surviving corporation or entity of such consolidation or merger or
(ii) transfer all or substantially all of its properties and assets to any individual, corporation or other entity, then, and in each such case, proper provisions shall be made so that the successors and assigns of the PQ Companies shall assume
all of the obligations set forth in this Agreement. 
 (c) The Designating Stockholders are express third party beneficiaries of this
Agreement, are entitled to rely upon this Agreement, and may specifically enforce the PQ Companies’ obligations hereunder (including but not limited to the obligations specified in Section 11 of this Agreement) as
though a party hereunder. 
 13. Severability. If any provision or provisions of this Agreement shall be held to be invalid,
illegal or unenforceable for any reason whatsoever: (i) the validity, legality and enforceability of the remaining provisions of this Agreement (including without limitation, each portion of any Section of this Agreement containing any such
provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby; (ii) such provision or provisions shall be deemed reformed to the extent
necessary to conform to Applicable Law and to give the maximum effect to the intent of the parties hereto; and (iii) to the fullest extent possible, the provisions of this Agreement (including, without limitation, each portion of any Section of
this Agreement containing any such provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall be construed so as to give effect to the intent manifested thereby. 

14. Exception to Right of Indemnification or Advancement of Expenses. Notwithstanding any other provision of this Agreement and
except as provided in Section 7(a) of this Agreement or as may otherwise be agreed by any PQ Company, Indemnitee shall not be entitled to indemnification or advancement of Expenses under this Agreement with respect to any
Proceeding brought by Indemnitee (other than a Proceeding by Indemnitee (i) by way of defense or counterclaim or other similar portion of a Proceeding, (ii) to enforce Indemnitee’s rights under this Agreement or (iii) to enforce
any other rights of Indemnitee to indemnification, advancement or contribution from the PQ Companies under any other contract, by-laws or charter or under statute or other law, including any rights under
Section 145 of the Delaware General Corporation Law), unless the bringing of such Proceeding or making of such claim shall have been approved by the board of directors of the applicable PQ Company. 

15. Definitions. For purposes of this Agreement: 

(a) “Applicable Law” means, as applied to each PQ Company, any law applicable to such PQ Company as in existence on the
date hereof and as amended from time to time; provided, however, that under all circumstances Applicable Law shall be construed assuming that Indemnitee is a director or officer of the indemnifying corporation for purposes of
determining the availability and scope of any indemnification right afforded to Indemnitee under this Agreement; provided, further, that as applied to each of Opco and Potters, Applicable Law shall be construed to treat
Section 145 of the Delaware General Corporation Law (as in existence on the date hereof and as amended from time to time, including any successor provision thereto) as if it was applicable to each of Opco and Potters. 

  
 - 12 - 

 (b) “Board of Directors” means the board of directors of the Company. 

(c) “By-laws” means, in each case, the bylaws or similar governing document of
the relevant company as amended from time to time. 
 (d) [“CCMP Entities” means investment funds affiliated with CCMP
Capital Advisors, LP, including CCMP Capital Investors III, L.P., CCMP Capital Investors III (Employee), L.P., CCMP Capital Investors III (AV-7), L.P., CCMP Capital Investors III
(AV-8), L.P., CCMP Capital Investors III (AV-9), L.P., CCMP Capital Investors III (AV-10), L.P. and Quartz Co-Invest, L.P., and any related investment adviser or management company, any investment fund, managing member or general partner that is an affiliate of any of the foregoing entities (other than any PQ Entity) or
that is advised by the same investment adviser as any of the foregoing entities or by an affiliate of such investment adviser.] 

(e) “Certificate of Incorporation” means, in each case, the certificate of incorporation, articles of incorporation or
similar constituting document of the relevant company as amended from time to time. 
 (f) “Corporate Status”
describes the status of a person by reason of such person’s past, present or future service as a director, officer, employee, fiduciary, trustee, or agent of any of the PQ Companies (including, without limitation, one who serves at the request
of any of the PQ Companies as a director, officer, employee, fiduciary, trustee or agent of any other PQ Entity). 

(g) “Designating Stockholder” means any of the [CCMP Entities / INEOS Entities], in each case so long as an individual
designated (directly or indirectly) by the [CCMP Entities / INEOS Entities] or any of their respective affiliates serves or has served as a director and/or officer of any PQ Entity. 

(h) “Determination” means a determination that either (i) there is a reasonable basis for the conclusion that
indemnification of Indemnitee is proper in the circumstances because Indemnitee met a/the particular standard(s) of conduct (a “Favorable Determination”) or (ii) there is no reasonable basis for the conclusion that
indemnification of Indemnitee is proper in the circumstances because Indemnitee met a/the particular standard(s) of conduct (an “Adverse Determination”). An Adverse Determination shall include the decision that a Determination was
required in connection with indemnification and the decision as to the applicable standard of conduct. 
 (i) “Disinterested
Director” means a director of the Company (or, if a Determination is necessary with respect to a PQ Company other than the Company, a director of such PQ Company) who is not and was not a party to the Proceeding in respect of which
indemnification is sought by Indemnitee and does not otherwise have an interest materially adverse to any interest of the Indemnitee. 

(j) “Expenses” shall mean all direct and indirect costs, fees and expenses of any type or nature whatsoever and shall
specifically include, without limitation, all reasonable attorneys’ fees, retainers, court costs, transcript costs, fees and costs of experts, witness fees and costs, 

  
 - 13 - 

 
travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees, any federal, state, local or foreign taxes imposed on Indemnitee as a result of
the actual or deemed receipt of any payments under this Agreement, ERISA excise taxes and penalties, and all other disbursements or expenses of the types customarily incurred in connection with prosecuting, defending, preparing to prosecute or
defend, investigating, being or preparing to be a witness, in, or otherwise participating in, a Proceeding or an appeal resulting from a Proceeding, including, but not limited to, the premium for appeal bonds, attachment bonds or similar bonds and
all interest, assessments and other charges paid or payable in connection with or in respect of any such Expenses, and shall also specifically include, without limitation, all reasonable attorneys’ fees and all other expenses incurred by or on
behalf of Indemnitee in connection with preparing and submitting any requests or statements for indemnification, advancement, contribution or any other right provided by this Agreement. Expenses, however, shall not include amounts of judgments or
fines against Indemnitee. 
 (k) “Independent Counsel” means, at any time, any law firm, or a member of a law firm,
that (a) is experienced in matters of corporation law and (b) is not, at such time, or has not been in the five years prior to such time, retained to represent: (i) any PQ Entity or Indemnitee in any matter material to either such
party (other than with respect to matters concerning Indemnitee under this Agreement, or of other indemnities under similar indemnification agreements), or (ii) any other party to the Proceeding giving rise to a claim for indemnification
hereunder. Notwithstanding the foregoing, the term “Independent Counsel” shall not include any person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest in representing either the
PQ Companies or Indemnitee in an action to determine Indemnitee’s rights under this Agreement. The PQ Companies agree to pay the reasonable fees and expenses of the Independent Counsel referred to above and to fully indemnify such counsel
against any and all Expenses, claims, liabilities and damages arising out of or relating to this Agreement or its engagement pursuant hereto and to be jointly and severally liable therefor. 

(l) [“INEOS Entities” means INEOS Investments Partnership and its respective successors and affiliates (other than any
PQ Entity).] 
 (m) “PQ Entity” means any PQ Company, any of their respective subsidiaries and any other corporation,
partnership, limited liability company, joint venture, trust, employee benefit plan or other enterprise with respect to which Indemnitee serves as a director, officer, employee, partner, representative, fiduciary, trustee or agent, or in any similar
capacity, at the request of any PQ Company. 
 (n) “Proceeding” includes any actual, threatened, pending or completed
action, suit, arbitration, alternate dispute resolution mechanism, investigation (formal or informal), inquiry, administrative hearing or any other actual, threatened, pending or completed proceeding, whether brought by or in the right of any PQ
Company or otherwise and whether civil, criminal, administrative or investigative in nature, in which Indemnitee was, is, may be or will be involved as a party, witness or otherwise, by reason of Indemnitee’s Corporate Status or by reason of
any action taken by Indemnitee or of any inaction on Indemnitee’s part while acting as director, officer, employee, fiduciary, trustee or agent of any PQ Entity (in each case whether or not Indemnitee is acting or serving in any such capacity
or has such status at the time any liability or 

  
 - 14 - 

 
expense is incurred for which indemnification or advancement of Expenses can be provided under this Agreement). If Indemnitee believes in good faith that a given situation may lead to or
culminate in the institution of a Proceeding, this shall be considered a Proceeding under this paragraph. 
 16. Construction.
Whenever required by the context, as used in this Agreement the singular number shall include the plural, the plural shall include the singular, and all words herein in any gender shall be deemed to include (as appropriate) the masculine, feminine
and neuter genders. 
 17. Reliance. The PQ Companies expressly confirm and agree that they have entered into this Agreement and
assumed the obligations imposed on each of them hereby in order to induce Indemnitee to serve as a director and/or an officer of one or more of the PQ Companies, and the PQ Companies acknowledge that Indemnitee is relying upon this Agreement in
serving as a director and/or an officer of one or more of the PQ Companies. 
 18. Modification and Waiver. No supplement,
modification or amendment of this Agreement shall be binding unless executed in a writing identified as such by all of the parties hereto. Except as otherwise expressly provided herein, the rights of a party hereunder (including the right to enforce
the obligations hereunder of the other parties) may be waived only with the written consent of such party, and no waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions hereof (whether
or not similar) nor shall such waiver constitute a continuing waiver. 
 19. Notice Mechanics. All notices, requests, demands or
other communications hereunder shall be in writing and shall be deemed to have been duly given if (i) delivered by hand and receipted for by the party to whom said notice or other communication shall have been directed, or (ii) mailed by
certified or registered mail with postage prepaid, on the third business day after the date on which it is so mailed: 
  

	 	(a)	If to Indemnitee to: 

 [●] 

 

	 	(b)	If to any PQ Company, to: 

 c/o PQ Group Holdings Inc. 

300 Lindenwood Drive 

Valleybrooke Corporate Center 

Malvern, Pennsylvania 19355 

Attn: Joseph S. Koscinski 

  
 - 15 - 

 
			
	 with a copy to:
	  	Ropes & Gray LLP
		  	 Prudential Tower, 800 Boylston Street

Boston, MA 02199-3600
 Attn: Craig E. Marcus

 or to such other address as may have been furnished (in the manner prescribed above) as follows: (a) in the case of
a change in address for notices to Indemnitee, furnished by Indemnitee to the PQ Companies and (b) in the case of a change in address for notices to any PQ Company, furnished by the PQ Companies to Indemnitee. 

20. Contribution. To the fullest extent permissible under Applicable Law, if the indemnification provided for in this Agreement is
unavailable to Indemnitee for any reason whatsoever, the PQ Companies, in lieu of indemnifying Indemnitee, shall contribute to the amount incurred by Indemnitee, whether for judgments, fines, penalties, excise taxes, amounts paid or to be paid in
settlement and/or for reasonably incurred Expenses, in connection with any claim relating to an indemnifiable event under this Agreement, in such proportion as is deemed fair and reasonable in light of all of the circumstances of such Proceeding in
order to reflect (i) the relative benefits received by the PQ Companies and Indemnitee as a result of the event(s) and/or transaction(s) giving cause to such Proceeding; and/or (ii) the relative fault of the PQ Companies (and their other
directors, officers, employees and agents) and Indemnitee in connection with such event(s) and/or transaction(s). 
 21. Governing
Law; Submission to Jurisdiction; Appointment of Agent for Service of Process. This Agreement and the legal relations among the parties shall, to the fullest extent permitted under Applicable Law, be governed by, and construed and enforced in
accordance with, the laws of the State of Delaware, without regard to its conflict of laws rules. The PQ Companies and Indemnitee hereby irrevocably and unconditionally (i) agree that any action or proceeding arising out of or in connection
with this Agreement shall be brought only in the Court of Chancery of the State of Delaware (the “Delaware Court”), and not in any other state or federal court in the United States of America or any court in any other country,
(ii) consent to submit to the exclusive jurisdiction of the Delaware Court for purposes of any action or proceeding arising out of or in connection with this Agreement, (iii) waive any objection to the laying of venue of any such action or
proceeding in the Delaware Court, and (iv) waive, and agree not to plead or to make, any claim that any such action or proceeding brought in the Delaware Court has been brought in an improper or otherwise inconvenient forum. 

22. Headings. The headings of the paragraphs of this Agreement are inserted for convenience only and shall not be deemed to
constitute part of this Agreement or to affect the construction thereof. 
 23. Counterparts. This Agreement may be executed in
one or more counterparts, each of which shall for all purposes be deemed to be an original but all of which together shall constitute one and the same Agreement. 

[Remainder of Page Intentionally Blank] 

  
 - 16 - 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the date first above
written. 
  

							
	The Company:	 		 	   PQ GROUP HOLDINGS INC.

							
				
		 		 	By:	 	 
		 		 	Name:
		 		 	Title:

  

							
	Intermediate Holdcos:	 		 	   PQ HOLDINGS INC.

							
				
		 		 	By:	 	 
		 		 	Name:
		 		 	Title:

  

							
		 		 	      CPQ MIDCO I CORPORATION

							
				
		 		 	By:	 	 
		 		 	Name:
		 		 	Title:

  

							
	Opco:	 		 	       PQ CORPORATION

							
				
		 		 	By:	 	 
		 		 	Name:
		 		 	Title:

  

							
	Eco:	 		 	      ECO SERVICES OPERATIONS CORP.

							
				
		 		 	By:	 	 
		 		 	Name:
		 		 	Title:

							
			
	Potters:	 		 	     POTTERS INDUSTRIES, LLC

							
				
		 		 	By: 	 	 
		 		 	Name:
		 		 	Title:

							
			
		 		 	  

	Indemnitee:	 		 	Name: [●]

 [Signature Page to Indemnification Agreement]

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