Document:

exhibit101

 

 

 

EXHIBIT 10.1 
1 
EMPLOYMENT AGREEMENT 
September 2, 2021 
NAME: 
Andrew Tometich 
[ REDACTED ] 
[ REDACTED ] 
The parties to this Employment Agreement (“Agreement”) are 
Andrew Tometich (“You” 
or the “Executive”) and 
Quaker 
Chemical 
Corporation, 
d/b/a 
Quaker 
Houghton, 
a 
Pennsylvania 
corporation 
(“Quaker 
Houghton” 
or 
the 
“Company”). 
You 
are hereby 
appointed as 
the Company’s 
Chief Executive 
Officer and 
President effective 
December 1, 
2021 
with an anticipated start date of on or about October 11, 2021. 

 
NOW THEREFORE in consideration 
of the mutual 
promises and covenants herein contained 
and intending to be 
legally bound hereby the parties hereto agree as follows: 
1.
Duties 
 
Quaker Houghton agrees 
to employ you 
and you agree 
to serve as 
Quaker Houghton’s Chief Executive 
Officer and 
President. 
You 
shall perform all 
duties consistent with 
such position as 
well as any 
other duties that 
are assigned to 
you 
from time 
to 
time by 
Quaker Houghton’s 
Board of 
Directors. You 
agree that 
during the 
term 
of your 
employment with 
Quaker Houghton to devote your knowledge, 
skill, and working time solely 
and exclusively to the business 
and interests of 
Quaker Houghton and its subsidiaries. 

2. 
Compensation
 
Your 
base salary 
will be 
determined from 
time to 
time by 
the Quaker 
Houghton Board of 
Directors. In addition, 
you will be entitled to 
participate, to the extent 
eligible, in any of Quaker 
Houghton’s annual and long term incentive 
plans, 
retirement savings plan (401k plan), 
and will be entitled to vacations, 
paid holidays, and medical, dental, 
and other benefits 
as are 
made generally 
available by 
Quaker Houghton 
to its 
full-time U.S. 
employees. 
During your 
employment with 
Quaker 
Houghton, 
your 
salary 
will 
not 
be 
reduced 
by 
Quaker 
Houghton 
without 
your 
prior 
written 
consent. 
Your 
initial 
compensation and benefits are outlined on Addendum 1, which is attached 
hereto and made a part hereof. 

3. 
Term 
of Employment
. 
Your 
employment with 
Quaker Houghton 
may be 
terminated on 
ninety (90) 
days' written 
notice by 
either party, 
with or 
without cause 
or reason 
whatsoever. 
Within ninety 
(90) days 
after termination 
of your 
employment, you will 
be 
given an accounting 
of all 
monies due you. 
Notwithstanding the 
foregoing, Quaker Houghton 
has the right 
to terminate your 
employment upon less than ninety (90) days’ notice for Cause (as defined 
below). 

 

 

2 
4. 
Covenant Not to Disclose
a. 
As Chief Executive Officer, 
you acknowledge that the identity 
of Quaker Houghton's (and any 
of Quaker 
Houghton's affiliates’) 
customers, the 
requirements of such 
customers, pricing and 
payment terms 
quoted and charged 
to 
such customers, 
the identity 
of Quaker 
Houghton's suppliers 
and terms 
of supply 
(and the 
suppliers and 
related terms 
of 
supply of 
any of 
Quaker Houghton's 
customers for 
which chemical 
and other 
management services 
are being 
provided), 
information 
concerning the 
method 
and 
conduct 
of 
Quaker 
Houghton's 
(and 
any 
affiliate’s) 
business 
such 
as 
formulae, 
formulation 
information, 
application 
technology, 
manufacturing 
information, 
marketing 
information, 
strategic 
and 
marketing 
plans, 
financial 
information, 
financial 
statements 
(audited 
and 
unaudited), 
budgets, 
corporate 
practices 
and 
procedures, research and 
development efforts, and laboratory 
test methods and all 
of Quaker Houghton's (and 
its affiliates’) 
manuals, 
documents, 
notes, 
letters, 
records, 
and 
computer 
programs 
are 
Quaker 
Houghton's 
confidential 
information 
("Confidential Information") 
and are 
Quaker Houghton’s (and/or 
any of 
its affiliates’, as 
the case 
may be) 
sole and 
exclusive 
property. 
You 
agree that at no time during or following your employment with Quaker Houghton will you appropriate for 
your 
own 
use, 
divulge 
or 
pass 
on, 
directly 
or 
through 
any 
other 
individual 
or 
entity 
or 
to 
any 
third 
party, 
any 
Quaker 
Houghton 
Confidential 
Information. 
Upon 
termination 
of 
your 
employment 
with 
Quaker 
Houghton 
and 
prior 
to 
final 
payment 
of 
all 
monies 
due 
to 
you 
under 
Section 2 
or 
at 
any 
other time 
upon 
Quaker Houghton's 
request, you 
agree 
to 
surrender immediately 
to Quaker 
Houghton any 
and all 
materials in 
your possession 
or control 
which include 
or contain 
any Quaker Houghton Confidential Information. 
b. 
You 
acknowledge that, by this 
Section 4(b), you have been 
notified in accordance with the 
Defend Trade 
Secrets Act that, notwithstanding the foregoing: 
(i)
You 
will not be 
held criminally or civilly 
liable under any federal 
or state trade secret 
law or this 
Agreement for the disclosure 
of Confidential Information that: (A) 
you make (1) in 
confidence to a federal, state, 
or local 
government 
official, 
either 
directly 
or 
indirectly, 
or 
to 
your 
attorney; 
and 
(2) 
solely 
for 
the 
purpose 
of 
reporting 
or 
investigating a suspected 
violation of law; 
or (B) you 
make in a 
complaint or other 
document that is 
filed under seal 
in a 
lawsuit or other proceeding. 
(ii)
If you file a lawsuit for retaliation by Quaker Houghton for reporting a suspected violation of 
law, 
you may disclose Confidential Information 
to your attorney and use the 
Confidential Information in the court 
proceeding if 
you: (A) 
file any 
document containing 
Confidential Information 
under seal 
and (B) 
do not 
disclose Confidential 
Information, 
except pursuant to court order. 
 
c. 
Additionally, Quaker Houghton confirms that nothing in this Agreement is intended to or shall prevent, 
impede or interfere with your right, without prior notice to Quaker Houghton, 
to provide information to the government, 
participate in any government investigations, file a court or administrative 
complaint, testify in proceedings regarding 
Quaker Houghton’s past or future conduct, or engage in any future activities protected under any statute 
administered by 
any government agency. 
5. 
Covenant Not to Compete 
In consideration of 
your position of 
Chief Executive Officer 
for Quaker Houghton 
and the training 
and Confidential 
Information you are to receive 
from Quaker Houghton, 
you agree that during your 
employment with Quaker Houghton 
and 
for a period of eighteen (18) months thereafter, regardless of the reason for your termination, you will 
not: 
a. 
directly or 
indirectly, 
together or 
separately or 
with any 
third party, 
whether as 
an employee, 
individual 
proprietor, partner, stockholder, officer, director, or investor, or in 
a joint venture 
or any other 
capacity whatsoever, actively 
engage in 
business or 
assist anyone 
or any 
firm in 
business as a 
manufacturer, seller, 
or distributor of 
specialty chemical 
products which are the same, like, similar to, or which compete with Quaker Houghton’s (or any of its affiliates’) products 
or services; and 

b. 
directly or indirectly recruit, solicit or encourage any Quaker Houghton (or any 
of its affiliates’) employee 
or otherwise induce 
such employee to 
leave Quaker Houghton’s (or 
any of its 
affiliates’) employ, or to 
become an employee 
or otherwise be associated with 
you or any firm, corporation, business, 
or other entity with which 
you are or may become 
associated; and 

 

 

 

3 
c. 
solicit or induce any of Quaker Houghton's suppliers of products and/or services (or a supplier of 
products 
and/or services of 
a customer who 
is being provided 
or solicited for 
the provision of 
chemical management or 
other services 
by Quaker Houghton) 
to terminate or alter its contractual relationship with Quaker 
Houghton (and/or any such customer). 
The parties 
consider these 
restrictions reasonable, 
including the 
period of 
time during 
which the 
restrictions are 
effective. 
However, 
if 
any 
restriction 
or 
the 
period 
of 
time 
specified 
should 
be 
found 
to 
be 
unreasonable 
in 
any 
court 
proceeding, then such restriction shall be modified or 
the period of time shall be shortened as 
is found to be reasonable so 
that the foregoing covenant not to compete may be enforced. 
You 
agree that in the event of a breach or 
threatened breach 
by you of 
the provisions of 
the restrictive covenants 
contained in Section 
4 or in 
this Section 5, 
Quaker Houghton 
will suffer 
irreparable harm, and monetary 
damages may not be 
an adequate remedy. 
Therefore, if any 
breach occurs, or is 
threatened, 
in addition to all other remedies available to Quaker Houghton, 
at law or in equity, Quaker Houghton shall be entitled as a 
matter of 
right to 
specific performance 
of the 
covenants contained 
herein by 
way of 
temporary or 
permanent injunctive 
relief. 
In the event of any breach of 
the restrictive covenant contained in 
this Section 5, the term of the restrictive 
covenant 
shall be extended 
by a period 
of time equal 
to that period 
beginning on the 
date such violation 
commenced and 
ending when 
the activities constituting such violation cease. 
6. 
Contractual Restrictions
 

You 
represent and warrant to Quaker Houghton that: 
(a) there are no restrictions, agreements, or understandings 
to 
which 
you 
are 
a 
party 
that 
would 
prevent 
or 
make 
unlawful 
your 
employment 
with 
Quaker 
Houghton 
and 
(b) 
your 
employment by Quaker 
Houghton shall 
not constitute 
a breach of 
any contract, 
agreement, or 
understanding, oral 
or written, 
to which you 
are a party 
or by which 
you are bound. 
You further represent that you 
will not use 
any trade secret, 
proprietary 
or otherwise 
confidential information 
belonging to 
a prior 
employer or 
other third 
party in 
connection with 
your employment 
with Quaker Houghton. 
7. 
Inventions
All improvements, modifications, formulations, 
processes, discoveries or inventions 
("Inventions"), whether or not 
patentable, which 
were originated, 
conceived or 
developed by 
you solely 
or jointly 
with others 
(a) during 
your working 
hours or at 
Quaker Houghton’s 
expense or at Quaker 
Houghton's premises or at 
a customer’s premises 
or (b) during your 
employment with 
Quaker Houghton 
and additionally 
for 
a period 
of one 
year thereafter, 
and which 
relate to 
(i) 
Quaker 
Houghton’s business or (ii) 
any research, products, 
processes, devices, 
or machines 
under actual or 
anticipated development 
or investigation by Quaker Houghton at the earlier of (i) that 
time or (ii) as the date of termination of employment, shall be 
Quaker Houghton’s 
sole property. 
You 
shall promptly 
disclose to 
Quaker Houghton 
all Inventions 
that you 
conceive or 
become 
aware 
of 
at 
any 
time 
during 
your 
employment 
with 
Quaker 
Houghton 
and 
shall 
keep 
complete, 
accurate, 
and 
authentic notes, data and records of all Inventions and of 
all work done by you solely or jointly with 
others, in the manner 
directed by 
Quaker Houghton. 
You 
hereby transfer and 
assign to 
Quaker Houghton all 
of your right, 
title, and interest 
in 
and 
to 
any 
and 
all 
Inventions 
which 
may 
be 
conceived 
or 
developed 
by 
you 
solely 
or 
jointly 
with 
others 
during 
your 
employment with Quaker Houghton. 
You 
shall assist Quaker Houghton in applying, obtaining, and 
enforcing any United 
States Letters Patent and Foreign Letters Patent on any such Inventions and to take such other actions as may be necessary 
or 
desirable 
to 
protect 
Quaker 
Houghton's 
interests 
therein. 
Upon 
request, 
you 
shall 
execute 
any 
and 
all 
applications, 
assignments, 
or 
other 
documents 
that 
Quaker 
Houghton 
deems 
necessary 
and 
desirable 
for 
such 
purposes. 
You 
have 
attached hereto 
a list 
of unpatented 
inventions that 
you have 
made or 
conceived prior 
to your 
employment with 
Quaker 
Houghton, and it is agreed that those inventions shall be excluded 
from the terms of this Agreement. 
8.
Termination
. 

(a)
Either party may terminate this Agreement per the terms of Section 3 hereof and Quaker Houghton, in its sole 
discretion, may terminate 
your employment 
at any time 
for Cause (as 
defined herein). 
If you incur 
a Separation 
from Service (as defined 
below) by decision and 
action of Quaker Houghton 
for any reason 
other than Cause 
or death Quaker Houghton agrees to: 

 

4 
1. 
Provide you with reasonable 
outplacement assistance, either by providing 
the services in-kind, or 
by reimbursing reasonable 
expenses actually incurred 
by you in connection 
with your Separation 
from Service. 

The 
outplacement 
services 
must 
be 
provided 
during 
the 
one-year 
period 
following 
your 
Separation 
from 
Service. 
If any expenses are to be reimbursed, you must request 
the reimbursement within eighteen months of 
your Separation from 
Service and reimbursement 
will be made 
within 30 days 
of the 
receipt of your 
request; 
and 
2. 
Pay you a severance consisting 
of 18 months of salary 
and bonus at target paid biweekly 
over such 
eighteen months commencing on the 
Payment Date (as defined below) and 
continuing on Quaker Houghton's 
normal payroll dates thereafter; 
provided you sign a Release within 45 days of the later of the date 
you receive 
the Release 
or your 
Separation from 
Service. Continuation 
of all 
medical and 
dental coverage’s 
will also 
be 
available for 18 months at a level equal to the coverage provided before 
your Separation from Service. 
(b)
If the Executive dies during 
the Term 
of Employment, the Company shall not 
thereafter be obligated to make 
any further payments under this 
Agreement except for amounts 
accrued as of the date 
of the Executive’s death, 
and except that the Company shall pay a death benefit equal to 100% 
of base salary in effect on the day before 
your death 
and 50% 
of base 
salary in 
each of 
the four 
years thereafter. 
“Beneficiary” shall 
mean the 
person 
designated by the Executive to 
receive benefits under this Agreement in 
a writing filed by the 
Executive with 
the Company’s human resources department before 
the Executive’s death or, if the Executive fails 
to designate 
a beneficiary or the designated beneficiary predeceases the Executive, the Executive’s Beneficiary shall be his 
surviving spouse or, if the Executive has no surviving spouse, his estate. 
“Separation from Service”
 
means your separation 
from service with 
Quaker Houghton and 
its affiliates within 
the 
meaning of Treas. Reg. §1.409A-1(h) or any successor thereto. 
 
“Cause”
 
means your 
employment with 
Quaker Houghton 
has been 
terminated by 
reason of 
(i) your 
willful and 
material breach of this Agreement (after having received notice thereof and a reasonable opportunity to 
cure or correct) or 
the Company’s 
policies, (ii) 
dishonesty, 
fraud, willful 
malfeasance, gross 
negligence, or 
other gross 
misconduct, in 
each 
case 
relating 
to 
the 
performance 
of 
your 
duties 
hereunder 
which 
is 
materially 
injurious 
to 
Quaker 
Houghton, 
or 
(iii) 
conviction of or plea of guilty or nolo contendere to a felony. 
“Payment Date”
 
means (x) the 60th day after your Separation from Service 
or (y) if you are a specified employee 
(as defined 
in 
Treas. 
Reg. §1.409A-1(i)) 
as of 
the date 
of your 
Separation from 
Service, and 
the severance 
described in 
subsection (b) is 
deferred compensation subject 
to section 
409A of the 
Code, the 
first business day 
of the 
seventh month 
following the 
month in 
which your 
Separation from 
Service occurs. 
If the 
Payment Date 
is described 
in clause 
(y), the 
amount paid on 
the Payment Date 
shall include all 
monthly installments that 
would have been 
paid earlier had 
clause (y) 
not been applicable, plus interest at the 
Wall 
Street Journal Prime Rate published in the 
Wall 
Street Journal on the date of 
your Separation from Service (or the previous business day if 
such day is not a business day), for the 
period from the date 
payment would have been made had clause (y) not been applicable through 
the date payment is made. 
“Release”
 
means 
a 
release 
(in 
a 
form 
satisfactory 
to 
Quaker 
Houghton) 
of 
any 
and 
all 
claims 
against 
Quaker 
Houghton and all related parties 
with respect to all matters arising 
out of your employment with Quaker 
Houghton, or the 
termination thereof (other than for claims for any entitlements under the terms of this Agreement or any plans or programs 
of Quaker Houghton under which you 
have accrued a benefit) that Quaker 
Houghton provides to you no 
later than ten days 
after your Separation from Service. 
If a release is not provided to 
you within this time period, the 
severance shall be paid 
even if you do not sign a release. 
9. 
Indemnification 
Quaker 
Houghton 
shall 
defend 
you 
and 
hold 
you 
harmless 
to 
the 
fullest 
extent 
permitted 
by 
applicable 
law 
in 
connection 
with 
any claim, 
action, 
suit, investigation 
or 
proceeding arising 
out 
of 
or 
relating to 
performance by 
you 
of 

 

 

 

 

 

 

5 
services for, or actions of you 
as a director, officer, 
or employee of Quaker Houghton or any parent, subsidiary or affiliate 
of 
Quaker Houghton, 
or 
of 
any other 
person or 
enterprise at 
Quaker Houghton’s 
request. 
Expenses incurred 
by you 
in 
defending such a claim, action, 
suit or investigation or 
criminal proceeding shall be paid 
by Quaker Houghton in 
advance 
of 
the 
final 
disposition thereof 
upon 
the 
receipt 
by 
the 
Company 
of 
an 
undertaking 
by 
or 
on 
your 
behalf 
to 
repay 
said 
amounts unless it shall ultimately be determined that you are entitled 
to be indemnified hereunder; provided, however, that 
this shall not apply to a nonderivative action commenced by Quaker Houghton 
against you. 

10. 
Governing Law. 
 
The provisions of this Agreement shall be construed in accordance with 
the laws of the Commonwealth of 
Pennsylvania without reference to principles of conflicts of laws. 
11. 
Miscellaneous 
This Agreement 
and the 
Change in 
Control Agreement 
to which 
you are 
a party, 
constitute the 
entire integrated 
agreement concerning 
the subjects 
covered herein. 
In case 
any provision 
of 
this Agreement 
shall be 
invalid, illegal, 
or 
otherwise unenforceable, the validity, legality, 
and enforceability of the remaining provisions shall not thereby be affected 
or impaired. 
You may not assign any of your rights or obligations under this Agreement without Quaker Houghton’s prior 
written consent. 
Quaker Houghton may assign this Agreement in its discretion, including to any affiliate or upon a sale of 
assets 
or 
equity, 
merger 
or 
other 
corporate 
transaction; 
provided 
that 
Quaker 
Houghton 
obtains 
the 
assignee’s 
written 
commitment to honor the 
terms and conditions contained herein. 
This Agreement shall be 
governed by, 
and construed in 
accordance with, the laws of the Commonwealth of 
Pennsylvania without regard to any conflict of laws. 
This Agreement 
shall be binding upon 
you, your heirs, executors, 
and administrators and shall 
inure to the benefit 
of Quaker Houghton as 
well as 
its successors 
and assigns. 
In the 
event of 
any overlap 
in the 
restrictions contained 
herein, including 
Sections 4 
and/or 5 above, with similar restrictions 
contained in any other agreement, such 
restrictions shall be read together so 
as to 
provide the broadest restriction possible. 
IN WITNESS WHEREOF, the parties hereto have executed this Agreement the day and year first above written. 
WITNESS: 
QUAKER CHEMICAL CORPORATION 
DBA QUAKER HOUGHTON 
/s/ Robert T. Traub 
/s/ Michael F. Barry 
WITNESS: 
/s/ Danielle R. Tometich 
/s/ Andrew E. Tometich 
ANDREW TOMETICH 
 

6 
ADDENDUM 1 
Base Salary: 
Your 
salary will be payable on a bi-weekly basis at the rate of 

$30,769.23, which 
is annualized 
at $800,000. 
You 
will be 
eligible for 
your 
next salary increase in 2023. 
Annual and Long- 
Term 
Bonuses: 
For your position, you are eligible to participate in the Annual Incentive Plan 
(“AIP”) with 
a target 
award percentage for 
2022 year of 
100% of 
your base 
salary, 
dependent 
upon 
Quaker 
Houghton’s 
financial 
results 
and 
personal 
objectives to be determined. 
You will be eligible 
to participate 
in the 2022-2024 
Long-Term Incentive Plan 
(“LTIP”). 
Your 
award for the 2022-2024 performance period includes a mix 
of 
time-based 
restricted 
stock, 
stock 
options, 
and 
target 
performance 
stock 
units (PSU’s) 
, 
such mix 
to be 
determined by 
the Company’s 
Compensation 
and Human Resources 
Committee. 
The value, at 
a target level, is 
$1,680,000. 

All incentive compensation 
awards are made 
at the Company’s discretion, are 
subject to change, and 
require the approval of the 
Company’s Compensation 
and Human Resources Committee. 
Special One-time Grants: 
You 
will be provided a one-time cash payment 
$550,000
to offset the annual 
incentive 
at 
your 
current 
employment 
and 
in 
lieu 
of 
any 
potential 
annual 
incentive 
earned 
in 
2021 
at 
Quaker 
Houghton. 
This 
cash 
payment 
will 
be 
payable 
in 
the 
first 
quarter 
of 
2022 
at 
the 
time 
the 
Quaker 
Houghton 
AIP 
payments 
are 
made 
to 
AIP 
participants 
generally. 
Such 
cash 
payment 
is 
subject to 
a claw-back 
and must 
be repaid 
to the 
Company if 
you terminate 
your employment with Quaker Houghton for any reason 
other than for cause 
or if 
a change 
a control 
occurs within 
the first 
two (2) 
years of 
your tenure 
with Quaker Houghton. 

You 
will also 
be provided a 
one-time equity 
award equaling 
a cash 
value at 
time of grant of $1,750,000 in order to offset 
the equity that will expire upon 
your 
accepting 
employment 
with 
Quaker 
Houghton. 
Such 
award 
will 
be 
provided as 
a mix 
of 50% 
time-based restricted 
stock and 
50% PSU’s. 
The 
time based 
restricted stock 
will vest 
one year 
from the 
date of 
grant, which 
will 
be 
on 
your 
first 
day 
of 
employment 
with 
Quaker 
Houghton 
(currently 
anticipated 
to 
be 
October 
11, 
2021). 
However, 
in 
the 
event 
that 
your 
employment is 
terminated for 
any reason 
(other than 
cause) within 
the first 
twelve (12) months of your start date, then the 
vesting date of the time based 
restricted stock described 
in this paragraph 
will be accelerated 
to the date 
of 
termination. 
The grant 
of 50% 
PSUs will 
also be 
made on 
your first 
day of 
employment 
and 
will 
be 
based 
on 
the 
three 
year 
period starting 
October 
1, 
2021 and ending September 30, 2024. 
 

Relocation: 
You 
will receive, as 
soon as administratively possible after 
your start date, a 
lump 
sum 
payment of 
$150,000.00 
to 
cover 
all 
relocation 
expenses, 
which 
will be 
grossed up 
for taxes. 
If you 
should voluntarily 
leave Quaker 
within 

7 
one year of 
receipt of these 
funds, all financial relocation 
assistance must be 
reimbursed to Quaker Houghton. 
Financial Planning: 
You 
will be eligible to be reimbursed for up to $8,000 per calendar year for 
expenses incurred for financial planning and/or tax preparation. 
Benefits: 
Quaker Houghton 
offers a Flexible 
Benefits Program 
that is 
subject to change. 

This gives you the opportunity to choose from 
a variety of options creating a 
customized benefits package. 
The following benefits are currently 
part of the 
program. 
In each 
of these 
areas, you 
are offered 
a range 
of options 
so you 
may choose the ones that make the most sense for your personal situation. 
●
Medical 

●
Dental 

●
Life & AD&D Insurance 
●
Long-term Disability 
●
Health Care and Dependent Care Flexible Spending Accounts (FSAs) 
●
Retirement Savings Plan (401K) 
●
The 
Company 
is 
reviewing 
a 
non-qualified 
deferred 
compensation 
(excess) 
plan, 
which 
if 
adopted 
will 
be 
part 
of 
your 
overall 
benefits 
package 

 

Vacation 
/ Holidays: 
You 
will be eligible for 25 PTO days per calendar year while you are 
working in the U.S. You will begin to accrue an additional 5 days of PTO 
per calendar year when you meet the next service level as defined in 
the 
plan. 
In addition, you will be eligible to be paid for regional holidays. 

Unused vacation days will not roll over from year to year, unless applicable 
law requires otherwise.exhibit102

 

 

1 
EXHIBIT 10.2 
CHANGE IN CONTROL AGREEMENT 
 
THIS AGREEMENT, dated September 
2, 2021 between QUAKER CHEMICAL CORPORATION, 
d/b/a QUAKER HOUGHTON, a Pennsylvania corporation (the “Company”), and Andrew Tometich 
(the 
“Executive”). 

W I T N E S S E T H 
T H A T 
 
WHEREAS, the Executive and the Company entered into an employment agreement dated September 2, 
2021; and 
 
WHEREAS, the Executive and the Company wish to enter into this Change in Control Agreement (the 
“Agreement”); 

 
NOW, 
THEREFORE, IN CONSIDERATION 
of the mutual obligations and agreements contained 
herein and intending to be legally bound hereby, the Executive and the Company agree as follows: 

1.
Term 
of Agreement. 

 
This Agreement shall become effective on October 11, 
2021 (the “Effective Date”), and shall continue 
in effect through December 31, 2022; provided, however, that the term of this Agreement shall automatically be 
extended for successive one-year periods thereafter, unless, not later than eighteen (18) months preceding the 
calendar year for which the term would otherwise automatically extend, the Company shall have given written 
notice to the Executive of intention not to extend this Agreement for an additional year, in which event this 
Agreement shall continue in effect until December 31 of the calendar year immediately preceding the calendar 
year for which the term would have otherwise automatically extended. Notwithstanding any such notice not to 
extend, if a Change in Control (as defined in Section 2) occurs during the original or extended term of this 
Agreement, this Agreement shall remain in effect after a Change in Control until all obligations of the parties 
hereto under this Agreement shall have been satisfied. 

2.
Change in Control. 

 
As used in this Agreement, a “Change in Control” of the Company shall be deemed to have occurred if: 

(a)
Any person (a “Person”), as such term is used in Sections 13(d) and 14(d) of the Securities 
Exchange Act of 1934, as amended (the “Exchange Act”) (other than (i) the Company and/or its wholly owned 
subsidiaries; (ii) any ESOP or other employee benefit plan of the Company and any trustee or other fiduciary in 
such capacity holding securities under such plan; (iii) any corporation owned, directly or indirectly, by the 
shareholders of the Company in substantially the same proportions as their ownership of stock of the Company; 
or (iv) any other Person who, within the one year prior to the event which would otherwise be a Change in 
Control, is an executive officer of the Company or any group of Persons of which he voluntarily is a part), is or 
becomes the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of 
securities of the Company representing 30% or more of the combined voting power of the Company’s then 
outstanding securities or such lesser percentage of voting power, but not less than 15%, as determined by the 
members of the Board of Directors of the Company who are independent directors (as defined in the New York 
Stock Exchange, Inc. Listed Company Manual); 

(b)
During any two-year period after the Effective Date, Directors of the Company in office at the 
beginning of such period plus any new Director (other than a Director designated by a Person who has entered 

 

 

 

2 
into an agreement with the Company to effect a transaction within the purview of subsections (a) or (c)) whose 
election by the Board of Directors of the Company or whose nomination for election by the Company’s 
shareholders was approved by a vote of at least two-thirds of the Directors then still in office who either were 
Directors at the beginning of the period or whose election or nomination for election was previously so 
approved shall cease for any reason to constitute at least a majority of the Board; 

(c)
The consummation of (i) any consolidation or merger of the Company in which the Company is 
not the continuing or surviving corporation or pursuant to which the Company’s voting common shares (the 
“Common Shares”) would be converted into cash, securities, and/or other property, other than a merger 
of the 
Company in which holders of Common Shares immediately prior to the merger have the same proportionate 
ownership of voting shares of the surviving corporation immediately after the merger as they had in the 
Common Shares immediately before; or (ii) any sale, lease, exchange, or other transfer (in one transaction or a 
series of related transactions) of all or substantially all the assets or earning power of the Company; or 

(d)
The Company’s shareholders or the Company’s 
Board of Directors shall approve the liquidation 
or dissolution of the Company. 

3.
Entitlement to Change in Control Benefits; Certain Definitions. 

 
The Executive shall be entitled to the benefits provided in this Agreement in the event the Executive has 
a Separation from Service under the circumstances described in (a) below (a “Covered Termination”), provided 
the Executive executes and does not revoke a Release (as defined below), if any, provided by the Company. 

(a)
A Covered Termination shall have occurred in the event the Executive’s 
employment with the 
Company or its affiliates is terminated within two (2) years following a Change in Control by: 

(i)
The Company or its affiliates without Cause (as defined below); or 

(ii)
Resignation of the Executive for Good Reason (as defined below). 

 
The Executive shall have no rights to any payments or benefits under this Agreement in the event the 
Executive’s employment with the Company and its affiliates is terminated (i) as a result of death or Disability 
(as defined below), or (ii) by the Company or its affiliates for Cause. In the event the Executive’s employment 
is terminated for any reason prior to a Change in Control, the Executive shall have no rights to any payments or 
benefits under this Agreement and, after any such termination, this Agreement shall be of no further force or 
effect. 

 
“Cause” shall mean (i) the Executive’s willful and material breach of the employment agreement 
between the Executive and the Company (after having received notice thereof and a reasonable opportunity to 
cure or correct), (ii) dishonesty, fraud, willful malfeasance, gross negligence, or other gross misconduct, in each 
case relating to the performance of the Executive’s employment with the Company or its affiliates which 
is 
materially injurious to the Company, or (iii) conviction of or plea of guilty to a felony, 
such Cause to be 
determined, in each case, by a resolution approved by at least two-thirds of the Directors of the Company after 
having afforded the Executive a reasonable opportunity to appear before the Board of Directors of the Company 
and present his position. 

 
“Code” shall mean the Internal Revenue Code of 1986, as amended, together with any applicable 
regulations thereunder. 

 

 

 

 

 

 

 

 

3 
 
“Disability” shall mean covered total and permanent disability as defined in the long-term disability plan 
maintained by the Company for employees generally or, if the Company does not maintain such a plan, the 
long-term disability plan most recently maintained by the Company for employees generally. 
 
“Good Reason” shall mean any of the following actions without the Executive’s consent, other than due 
to the Executive’s death or Disability: (i) any reduction in the Executive’s 
base salary from that provided 
immediately before the Covered Termination or, 
if higher, immediately before the Change in Control; (ii) any 
reduction in the Executive’s bonus opportunity (including cash and noncash incentives) or increase in the goals 
or standards required to accrue that opportunity, as compared to the opportunity and goals or standards in effect 
immediately before the Change in Control; (iii) a material adverse change in the nature or scope of the 
Executive’s authorities, powers, functions, or duties from those in effect immediately before the Change in 
Control; (iv) a reduction in the Executive’s benefits from those provided immediately before the Change in 
Control, disregarding any reduction under a plan or program covering employees generally that applies to all 
employees covered by the plan or program; (or (v) the Executive being required to accept a primary 
employment location which is more than twenty-five (25) miles from the location at which he primarily was 
employed during the ninety (90) day period prior to a Change in Control. 

 
“Payment Date” shall mean the 60
th
 
day after the Executive’s Separation from Service, subject to 
Section 9. 
 
“Release” shall mean a release (in a form satisfactory to the Company) of any and all claims against the 
Company and all related parties with respect to all matters arising out of the Executive’s employment by the 
Company and its affiliates, or the termination thereof (other than claims for any entitlements under the terms of 
this Agreement, under the employment agreement between the Executive and the Company, or under any plans 
or programs of the Company under which the Executive has accrued a benefit) that the Company provides to 
the Executive no later than three days after the date of the Executive’s Covered Termination. 
Notwithstanding 
any provision of this Agreement to the contrary, if the Company provides a Release to the Executive, the 
Executive shall not be entitled to any payments or benefits under this Agreement unless the Executive executes 
the Release within 45 days of the later of the date he receives the Release or the date of his Covered 
Termination, and the Executive does not revoke the Release. 
 
“Separation from Service” shall mean the Executive’s separation from service with the Company and its 
affiliates within the meaning of Treas. Reg. §1.409A-1(h) or any successor thereto. 
 
“Specified Employee” 
shall mean the Executive if he is a specified employee as defined in Section 409A 
of the Code as of the date of his Separation from Service. 
4.
Severance Allowance. 

(a)
Amount of Severance Allowance. In the event of a Covered Termination, the Company shall pay 
or cause to be paid to the Executive in cash a severance allowance (the “Severance Allowance”) equal to two 
times the sum of the amounts determined in accordance with the following paragraphs (i) and (ii): 

(i)
An amount equivalent to the highest annualized base salary which the Executive was 
entitled to receive from the Company and its subsidiaries at any time during his 
employment prior to the Covered Termination; and 

(ii)
An amount equal to the average of the aggregate annual amounts paid to the Executive in 
the Applicable Three-Year 
Period under all applicable annual incentive compensation 
plans maintained by the Company and its affiliates (other than compensation relating to 
relocation expense; the grant, exercise, or settlement of stock options, restricted stock or 

 

 

 

 

4 
performance incentive units or the sale or other disposition of shares received upon 
exercise or settlement of such awards); provided, however, that (x) in determining the 
average amount paid under the annual incentive plan during the Applicable Three-Year 
Period there shall be excluded any year in which no amounts were paid to the Executive 
under that plan; (y) there shall be excluded from such calculation any amounts paid to the 
Executive under any such incentive compensation plan as a result of the acceleration of 
such payments under such plan due to termination of the plan, a Change in Control, or a 
similar occurrence; and (z) in no event shall the amount under this paragraph (ii) be less 
than the amount of the mid/target bonus which would otherwise have been payable to the 
Executive under the annual incentive compensation plans for the calendar year in which 
the Change in Control occurred. 
The Applicable Three-Year 
Period shall be (A) if the 
Executive has received an annual incentive compensation plan payment in the calendar 
year of his Covered Termination, the calendar year in which such Covered Termination 
occurs and the two preceding calendar years, or (B) in any other case, the three calendar 
years preceding the calendar year in which the Executive’s Covered Termination 
occurs; 
provided, however, that the Applicable Three-Year 
Period shall be determined by 
substituting “ Change In Control” for “Covered Termination” if such substitution 
results 
in a higher amount under this subsection (ii). 

 
In no event shall any retention bonus or change in control or success fee be taken into account when 
determining the amount of the Severance Allowance hereunder. 

(b)
Payment of Severance Allowance. 
The Severance Allowance shall be paid to the Executive in a 
lump sum on the Payment Date if the applicable Change in Control is also a change in control event as defined 
in Treas. Reg. §1.409A-3(i)(5) (or any successor thereto). 
In any other case, the Severance Allowance shall be 
paid in twenty-four monthly installments commencing on the Payment Date, each of which is equal to one-
twenty-fourth (1/24th) of the amount of the Severance Allowance determined under Section 4(a), which are 
treated as a right to a series of separate payments for purposes of Section 409A of the Code. 
5.
Outplacement and Welfare Benefits. 

(a)
Outplacement. 
Subject to Section 6, for a period of one year following a Covered Termination of 
the Executive, the Company shall make or cause to be made available to the Executive, at its expense, 
outplacement counseling and other outplacement services comparable to those available for the Company’s 
senior executives prior to the Change in Control. 

(b)
Welfare Benefits. Subject to Section 6, for a period of 24 months following a Covered 
Termination of the Executive, 
the Executive and the Executive’s dependents shall be entitled to participate in 
the Company’s life, medical, and dental insurance plans at the Company’s 
expense, in accordance with the 
terms of such plans at the time of such Covered Termination as if the Executive were still employed by the 
Company or its affiliates under this Agreement. If, however, life, medical, or dental insurance benefits are not 
paid or provided under any such plan to the Executive or his dependents because the Executive is no longer an 
employee of the Company or its subsidiaries, the Company itself shall, to the extent necessary, pay or otherwise 
provide for such benefits to the Executive and his dependents. 

 

5 
6.
Effect of Other Employment. 

 
In the event the Executive becomes employed (as defined below) during the period with respect to 
which benefits are continuing pursuant to Section 5: (a) the Executive shall notify the Company not later than 
the day such employment commences; and (b) the benefits provided for in Section 5 shall terminate as of the 
date of such employment. For the purposes of this Section 6, the Executive shall be deemed to have become 
“employed” by another entity or person only if the Executive becomes essentially a full-time employee of a 
person or an entity (not more than 30% of which is owned by the Executive and/or members of his family); and 
the Executive’s “family” shall mean his parents, his siblings and their spouses, his children and their spouses, 
and the Executive’s spouse and her parents and siblings. Nothing herein shall relieve the Company of its 
obligations for compensation or benefits accrued up to the time of termination provided for herein. 

 

 

6 
7.
Other Payments and Benefits. 

 
On the Payment Date, the Company shall pay or cause to be paid to the Executive the aggregate of: (a) 
the Executive’s earned but unpaid base salary through the Covered Termination 
at the rate in effect on the date 
of the Covered Termination, or if higher, 
at the rate in effect at any time during the 90-day period preceding the 
Change in Control; (b) any unpaid bonus or annual incentive payable to the Executive in respect of the calendar 
year ending prior to the Covered Termination; (c) the pro rata portion of any and all unpaid bonuses and annual 
incentive awards for the calendar year in which the Covered Termination occurs, said pro rata portion to 
be 
calculated on the fractional portion (the numerator of said fraction being the number of days between January 1 
and the date of the Covered Termination, and the denominator of which is 365) of the mid/target 
bonuses or 
annual incentive awards for such calendar year; and (d) the pro rata portion of any and all awards under the 
Company’s long term incentive plan for the performance period(s) in which the Covered Termination 
occurs, 
said pro rata portion to be calculated on the fractional portion (the numerator of said fraction being the number 
of days between the first day of the applicable performance period and the date of the Covered Termination, and 
the denominator of which is the total number of days in the applicable performance period) of the amount of the 
award which would have been payable had (i) the Covered Termination not occurred, and (ii) the 
mid/target 
level of performance been achieved for the applicable performance period. The Executive shall be entitled to 
receive any other payments or benefits that the Executive is entitled to pursuant to the express terms of any 
compensation or benefit plan or arrangement of the Company or any of its affiliates; provided that: (x) the 
Severance Allowance (i) shall be in lieu of any severance payments to which the Executive might otherwise be 
entitled under the terms of any severance pay plan, policy, or arrangement maintained by the Company or the 
employment agreement between the Executive and the Company, and (ii) shall be credited against any 
severance payments to which the Executive may be entitled by statute; (y) any annual incentive described in 
subsection (b) or (c) shall decrease (or shall be decreased by), but not below zero, the amount of the annual 
incentive payable (or paid) with respect to the same calendar year under the Company's annual incentive plan; 
and (z) any amount described in (d) shall decrease (or shall be decreased by), but not below zero, the amount of 
the analogous performance award payable (or paid) with respect to the same performance period(s) under the 
Company’s long term incentive plan(s). 
8.
Death After Covered Termination 
. 

 
In the event the Executive dies after a Covered Termination occurs, (a) any payments due to the 
Executive under Section 4 and the first sentence of Section 7 and not paid prior to the Executive’s death shall be 
made to the person or persons who may be designated by the Executive in writing or, in the event he fails to so 
designate, to the Executive’s personal representatives, (b) the Executive’s 
spouse and dependents shall be 
eligible for the welfare benefits described in Section 5(b). 
Payments pursuant to subsection (a) shall be made 
on the later of (i) the date payment would have been made to the Executive without regard to Section 9, or (ii) 
the date of the Executive’s death. 

 

 

 

 

 

 

7 
9.
Certain Section 409A Rules. 

(a)
Specified Employee. 
Notwithstanding any provision of this Agreement to the contrary, if the 
Executive is a Specified Employee, any payment or benefit under this Agreement that constitutes deferred 
compensation subject to Section 409A of the Code and for which the payment event is Separation from Service 
shall be not be made or provided before the date that is six months after the date of the Executive’s Separation 
from Service. 
Any payment or benefit that is delayed pursuant to this Section 9 shall be made or provided on 
the first business day of the seventh month following the month in which the Executive’s Separation from 
Service occurs. 
With respect to any cash payment delayed pursuant to this Section 9, the first payment shall 
include interest, at the Wall Street Journal Prime Rate published in the Wall 
Street Journal on the date of the 
Executive’s Covered Termination 
(or the previous business day if such date is not a business day), for the 
period from the date the payment would have been made but for this Section 9 through the date payment is 
made. 
The provisions of this Section 9 shall apply only to the extent required to avoid the Executive’s 
incurrence of any additional tax or interest under Section 409A of the Code. 
(b)
Reimbursement and In-Kind Benefits. 
Notwithstanding any provision of this Agreement to the 
contrary, with respect to in-kind benefits provided or expenses eligible for reimbursement under this Agreement 
which are subject to Section 409A of the Code, (i) the benefits provided or the amount of expenses eligible for 
reimbursement during any calendar year shall not affect the benefits provided or expenses eligible for 
reimbursement in any other calendar year, except as otherwise provided in Treas. Reg. §1.409A-3(i)(1)(iv)(B), 
and (ii) the reimbursement of an eligible expense shall be made as soon as practicable after the Executive 
requests such reimbursement (subject to Section 9(a)), 
but not later than the December 31 following the 
calendar year in which the expense was incurred. 
(c)
Interpretation and Construction. 
This Agreement is intended to comply with Section 409A of the 
Code and shall be administered, interpreted and construed in accordance therewith to avoid the imposition of 
additional tax under Section 409A of the Code. 
10.
Confidentiality and Noncompetition. 

(a)
Confidential Information. 
The Executive acknowledges that information concerning the method 
and conduct of the Company’s (and any affiliate’s) 
business, including, without limitation, strategic and 
marketing plans, budgets, corporate practices and procedures, financial statements, customer and supplier 
information, formulae, formulation information, application technology, manufacturing information, and 
laboratory test methods and all of the Company’s (and any affiliate’s) 
manuals, documents, notes, letters, 
records, and computer programs (“Proprietary Business Information”), are the sole and exclusive property of 
the Company (and/or the Company’s affiliates, as the case may be) and are likely to constitute, contain or reveal 
trade secrets (“Trade Secrets”) of the Company (and/or the Company’s 
affiliate’s, as the case may be). The term 
“Trade Secrets” as used herein does not include Proprietary Business Information that is known or becomes 
known to the public through no act or failure to act on the part of the Executive, or which can be clearly shown 
by written records to have been known by the Executive prior to the commencement of his employment with 
the Company. 

(i)
The Executive agrees that at no time during or following his employment with the 
Company will he use, divulge, or pass on, directly or through any other individual or 
entity, any Trade 
Secrets. 

(ii)
Upon termination of the Executive’s employment with the Company regardless of the 
reason for the termination of the Executive’s employment hereunder, 
or at any other time 

 

 

 

8 
upon the Company’s request, the Executive agrees to forthwith surrender to the Company 
any and all materials in his possession or control which constitute or contain any 
Proprietary Business Information. 

(b)
Noncompetition. The Executive agrees that during his employment and for a period of two (2) 
years thereafter, regardless of the reason for the termination of the Executive’s 
employment, he will not: 

(i)
directly or indirectly, together or separately or with any third party, 
whether as an 
individual proprietor, partner, stockholder, 
officer, director, 
joint venturer, investor, 
or in 
any other capacity whatsoever actively engage in business or assist anyone or any firm in 
business as a manufacturer, seller, or distributor of specialty chemical products or 
chemical management services which are the same, like, similar to, or which compete 
with the products and services offered by the Company (or any of its affiliates); 

(ii)
directly or indirectly recruit, solicit or encourage any employee of the Company (or any 
of its affiliates) or otherwise induce such employee to leave the employ of the Company 
(or any of its affiliates) or to become an employee or otherwise be associated with his or 
any firm, corporation, business or other entity with which he is or may become 
associated; or 

(iii)
solicit, directly or indirectly, for himself or as agent or employee of any person, 
partnership, corporation, or other entity (other than for the Company), any then or former 
customer, supplier, or client of the Company with the intent of actively engaging in 
business which would cause competitive harm to the Company (or any of its affiliates). 

(c)
Severability. 
The Executive acknowledges and agrees that all of the foregoing restrictions are 
reasonable as to the period of time and scope. However, if any paragraph, sentence, clause, or other provision is 
held invalid or unenforceable by a court of competent and relevant jurisdiction, such provision shall be deemed 
to be modified in a manner consistent with the intent of such original provision so as to make it valid and 
enforceable, and this Agreement and the application of such provision to persons and circumstances other than 
those with respect to which it would be invalid or unenforceable shall not be affected thereby. 

(d)
Remedies. 
The Executive agrees and recognizes that in the event of a breach or threatened 
breach of the provisions of the restrictive covenants contained in this Section 10, the Company may suffer 
irreparable harm, and monetary damages may not be an adequate remedy. Therefore, if any breach occurs or is 
threatened, the Company shall be entitled to seek equitable remedies, including injunctive relief in any court of 
applicable jurisdiction notwithstanding the provisions of Section 12. In the event of any breach of the restrictive 
covenant contained in this Section 10, the term of the restrictive covenant specified herein shall be extended by 
a period of time equal to that period beginning on the date such violation commenced and ending when the 
activities constituting such violation cease. Furthermore, if a court or arbitration panel determines that the 
Executive has breached any of the provisions of this Section 10, the Company’s obligations to pay amounts and 
continue the benefits under this Agreement to the Executive (and his dependents) shall immediately terminate. 

 

 

 

 

 

 

 

9 
11.
Set-Off Mitigation. 

 
Except as provided in Section 6, the Company’s obligation to make the payments provided for in this 
Agreement and otherwise to perform its obligations hereunder shall not be affected by any set-off, 
counterclaim, recoupment, defense, or other claim, right, or action which the Company may have against the 
Executive or others. In no event shall the Executive be obligated to seek other employment or take any other 
action by way of mitigation of the amounts payable to the Executive under any of the provisions of this 
Agreement. 

12.
Arbitration: Costs and Expenses of Enforcement. 

(a)
Arbitration. 
Except as otherwise provided in Sections 10(d) and 13, any controversy or claim 
arising out of or relating to this Agreement or the breach thereof which cannot promptly be resolved by the 
parties shall be promptly submitted to and settled exclusively by arbitration in the City of Philadelphia, 
Pennsylvania, in accordance with the laws of the Commonwealth of Pennsylvania by three arbitrators, one of 
whom shall be appointed by the Company, one by the Executive, and the third of whom shall be appointed by 
the first two arbitrators. The arbitration shall be conducted in accordance with the rules of the American 
Arbitration Association, except with respect to the selection of arbitrators which shall be as provided in this 
Section 12. Judgment upon the award rendered by the arbitrators may be entered in any court having 
jurisdiction thereof. 

(b)
Costs and Expenses. 
In the event that it shall be necessary or desirable for the Executive to 
retain legal counsel and/or incur other costs and expenses in connection with the enforcement of any and all of 
his rights under this Agreement at any time during his lifetime, the Company shall pay (or the Executive shall 
be entitled to recover from the Company, as the case may be) his reasonable attorneys’ fees and costs 
and 
expenses in connection with the enforcement of his said rights (including those incurred in or related to any 
arbitration proceedings provided for in subsection (a) and the enforcement of any arbitration award in court), 
regardless of the final outcome. 

13.
Limitation on Payment Obligation. 

(a)
Definitions. 
For purposes of this Section 13, all terms capitalized but not otherwise defined 
herein shall have the meanings as set forth in Section 280G of the Code. 
In addition: 

(i)
the term “Parachute Payment” shall mean a payment described in Section 280G(b)(2)(A) 
or Section 280G(b)(2)(B) of the Code (including, but not limited to, any stock option 
rights, stock grants, and other cash and noncash compensation amounts that are treated as 
payments under either such section) and not excluded under Section 280G(b)(4)(A) or 
Section 280G(b)(6) of the Code; 

(ii)
the term “Reasonable Compensation” shall mean reasonable compensation for prior 
personal services as defined in Section 280G(b)(4)(B) of the Code and subject to the 
requirement that any such reasonable compensation must be established by clear and 
convincing evidence; and 

(iii)
the portion of the “Base Amount” and the amount of “Reasonable Compensation” 
allocable to any “Parachute Payment” shall be determined in accordance with Section 
280G(b)(3) and (4) of the Code. 

(b)
Limitation. 
Notwithstanding any other provision of this Agreement, Parachute Payments to be 
made to or for the benefit of the Executive but for this subsection (b), whether pursuant to this Agreement or 
otherwise, shall be reduced if and to the extent necessary so that the aggregate Present Value 
of all such 

 

 

 

 

10 
Parachute Payments shall be at least one dollar ($1.00) less than the greater of (i) three times the Executive’s 
Base Amount and (ii) the aggregate Reasonable Compensation allocable to such Parachute Payments. 
Any 
reduction in Parachute Payments caused by reason of this subsection (b) shall be applied in the manner least 
economically detrimental to the Executive. 
In the event reduction of two or more types of payments would be 
economically equivalent, the reduction shall be applied pro-rata to such types of payments. 
 
This subsection (b) shall be interpreted and applied to limit the amounts otherwise payable to the 
Executive under this Agreement or otherwise only to the extent required to avoid any material risk of the 
imposition of excise taxes on the Executive under Section 4999 of the Code or the disallowance of a deduction 
to the Company under Section 280G(a) of the Code. In the making of any such interpretation and application, 
the Executive shall be presumed to be a disqualified individual for purposes of applying the limitations set forth 
in this subsection (b) without regard to whether or not the Executive meets the definition of disqualified 
individual set forth in Section 280G(c) of the Code. In the event that the Executive and the Company are unable 
to agree as to the application of this subsection (b), the Company’s independent auditors shall select 
independent tax counsel to determine the amount of such limits. Such selection of tax counsel shall be subject to 
the Executive’s consent, provided that the Executive shall not unreasonably withhold his consent. The 
determination of such tax counsel under this Section 13 shall be final and binding upon the Executive and the 
Company. 

(c)
Illegal Payments. 
Notwithstanding any other provision of this Agreement, no payment shall be 
made hereunder to or for the benefit of the Executive if and to the extent that such payments are determined to 
be illegal. 

14.
Notices. 

 
Any notices, requests, demands, and other communications provided for by this Agreement shall be 
sufficient if in writing, and if hand delivered or if sent by registered or certified mail, if to the Executive, at the 
last address he had filed in writing with the Company or if to the Company, at its principal executive offices. 
Notices, requests, etc. shall be effective when actually received by the addressee or at such address. 

15.
Withholding. 

 
Notwithstanding any provision of this Agreement to the contrary, the Company may, 
to the extent 
required by law, withhold applicable Federal, state and local income and other taxes from any payments due to 
the Executive hereunder. 

16.
Assignment and Benefit. 

(a)
This Agreement is personal to the Executive and shall not be assignable by the Executive, by 
operation of law, or otherwise without the prior written consent of the Company otherwise than by will or the 
laws of descent and distribution. This Agreement shall inure to the benefit of and be enforceable by the 
Executive’s heirs and legal representatives. 

(b)
This Agreement shall inure to the benefit of and be binding upon the Company and its successors 
and assigns, including, without limitation, any subsidiary of the Company to which the Company may assign 
any of its rights hereunder; provided, however, that no assignment of this Agreement by the Company, 
by 
operation of law, or otherwise shall relieve it of its obligations hereunder except an assignment of this 
Agreement to, and its assumption by, a successor pursuant to subsection (c). 

(c)
The Company shall require any successor (whether direct or indirect, by purchase, merger, 
consolidation, operation of law, or otherwise) to all or substantially all of the business and/or assets of the 

 

 

 

 

 

11 
Company to assume expressly and agree to perform this Agreement in the same manner and to the same extent 
that the Company would be required to perform it if no such succession had taken place, but, irrespective of any 
such assignment or assumption, this Agreement shall inure to the benefit of and be binding upon such a 
successor. As used in this Agreement, “Company” shall mean the Company as hereinbefore defined and any 
successor to its business and/or assets as aforesaid. 

17.
Governing Law. 

 
The provisions of this Agreement shall be construed in accordance with the laws of the Commonwealth 
of Pennsylvania without reference to principles of conflicts of laws. 

18.
Entire Agreement; 
Amendment. 
(a)
Except for the change in control provisions set forth in the Company’s annual incentive plan and 
long term incentive plan, this Agreement represents the entire agreement and understanding of the parties with 
respect to the subject matter hereof. 
The Executive understands and acknowledges that the Company’s 
severance plan, annual incentive plan and long term incentive plans are hereby amended with respect to the 
Executive to avoid duplication of benefits, as provided in Section 7. 
(b)
The Company reserves the right to unilaterally amend this Agreement without the consent of the 
Executive to the extent the Compensation and Human Resources Committee of the Company’s Board of 
Directors (in its sole discretion) determines is necessary or appropriate to avoid the additional tax under Section 
409A(a)(1)(B) of the Code; otherwise, this Agreement may not be altered or amended except by an agreement 
in writing executed by the Company and the Executive. 
19.
No Waiver. 

 
The failure to insist upon strict compliance with any provision of this Agreement by any party shall not 
be deemed to be a waiver of any future noncompliance with such provision or of noncompliance with any other 
provision. 

20.
Severability. 

 
In the event that any provision or portion of this Agreement shall be determined to be invalid or 
unenforceable for any reason, the remaining provisions of this Agreement shall be unaffected thereby and shall 
remain in full force and effect. 

21.
Indemnification. 

 
The Company shall defend and hold the Executive harmless to the fullest extent permitted by applicable 
law in connection with any claim, action, suit, investigation or proceeding arising out of or relating to 
performance by the Executive of services for, or action of the Executive as a director, officer 
or employee of the 
Company or any parent, subsidiary or affiliate of the Company, or of any other person or enterprise at the 
Company’s request. Expenses incurred by the Executive in defending such a claim, action, suit or investigation 
or criminal proceeding shall be paid by the Company in advance of the final disposition thereof upon the receipt 
by the Company of an undertaking by or on behalf of the Executive to repay said amount unless it shall 
ultimately be determined that the Executive is entitled to be indemnified hereunder; provided, however, that this 
shall not apply to a nonderivative action commenced by the Company against the Executive. 

 

 

 

12 
IN WITNESS WHEREOF, the Executive has hereunto 
set his hand and, pursuant to the authorization from its 
Board of Directors, the Company has caused these presents to be executed in its name and on its behalf and 
attested by its Secretary or Assistant Secretary, all as of the day and year first above written. 

 

QUAKER CHEMICAL CORPORATION 
DBA QUAKER HOUGHTON 
By: 
/s/ Michael F. Barry 
EXECUTIVE 
/s/ Andrew E Tometich 
Andrew Tometich

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