Document:

EX-10.1

 Exhibit 10.1 

UNLOADING, STORING, WEIGHING AND LOADING 

SERVICES CONTRACT 
 THIS
UNLOADING, STORING, WEIGHING AND LOADING SERVICES CONTRACT, dated the 27 day of September 2013 (the “Contract”) is made by and between: 
  

	(1)	 CORPORACION NAVIOS SOCIEDAD ANONIMA which has its corporate head office and principal place of business
at Zona Franca Aguada Park, in Paraguay 2141, of 1603, Montevideo, Uruguay (hereinafter referred to as “Navios”); and 

  

	(2)	 VALE INTERNATIONAL SA which has its corporate head office and principal place of business at Route de
Pallatex, Saint Prex, 1162, Switzerland (hereinafter referred to as “Vale”). 

 Navios and Vale shall be collectively
referred to as the “Parties” and individually as a “Party. 
 WHEREAS: 

 

	A.	 Navios own and operate an existing port terminal in the Free Zone in the region of Nueva Palmira Free Zone,
Uruguay, under licence granted by the Government of Uruguay (the “Port Terminal”). The Port Terminal shall provide appropriate facilities for the unloading, storing, weighing and loading of bulk materials for transhipment from river
barges on to ocean vessels (the “Services”). 

  

	B.	 Vale seek Services in the Rio de la Plata area for the unloading, storing, weighing and loading of iron ore
(including sinter feed) and/or manganese (hereinafter referred to as “Cargo”) in bulk originating from Corumba, Brazil and any other iron ore and/or manganese mines that Vale may nominate (hereinafter referred to as
“Mines”). 

  

	C.	 Navios are willing to provide the required Services for the unloading, storing, weighing and loading of Cargo
to Vale by expanding the Port Terminal. Further details of the expansion are set out in Annexure 1 to this Contract. The facilities at the expanded Port Terminal for the unloading, storing, weighing and loading of Cargo are hereinafter referred to
as the “New Facility”. 

  

	D.	 Navios have agreed to provide and Vale have agreed to accept the Services at the New Facility on the terms set
out in this Contract. 

 NOW, THEREFORE, IN CONSIDERATION OF THE MUTUAL COVENANTS SET FORTH HEREIN, THE PARTIES AGREE AS FOLLOWS:

  

	1.	 Definitions and Interpretation 

 

	 	1.1	 Definitions: 

The following words and expressions shall (unless otherwise required by the context) have the meanings respectively assigned to them below:

 “Affiliate”: A company or entity that directly or indirectly controls, is controlled by or is related by shareholdings to
a Party. 
 “Additional Storage Tariff” as defined in Clause 6.1 (e). 

“Barge Handling Tariff” as defined in Clause 6.1 (c). 

“Barge Loading Locations” as defined in Clause 10.1. 

“Basic Tariff” as defined in Clause 6.1.(a). 

“Cargo” as defined in Recital B. 

“Certificate to Proceed” as defined in Clause 3.1. 

“Commencement Certificate” as defined in Clause 4.3. 

“Commencement Date” as defined in Clause 2.2. 

“Condition Subsequent” as defined in Clause 3.1. 

“Confidential Information” as defined in Clause 19.1. 

“Contract Term” as defined in Clause 2.2. 

  
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 “Contract Year” or “Year of Contract” as defined in Clause
8.1. 
 “Dedicated Unloading Pier” means the pier to be built in accordance with Clause 4.2, adjacent to the existing pier
of the Terminal, which will be used for transhipment of Cargo on a priority basis. 
 “Designated Maintenance Time” as
defined in Clause 5.11. 
 “Effective Date” as defined in Clause 2.1. 

“Excess Quantity” as defined in Clause 8.9. 

“Force Majeure Event” as defined in Clause 15.1. 

“IMS Index” as defined in Clause 6.3. 

“MGQ Compensation” as defined in Clause 8.5. 

“Mines” as defined in Recital B. 

“Minimum Guaranteed Quantity” as defined in Clause 8.1. 

“Navios”: as defined in the Preamble. 

“New Facility” as defined in Recital C. 

“Port Terminal” as defined in Recital A. 

“Reduced Barge Handling Tariff” as defined in Clause 6.1 (d). 

“Reduced Basic Tariff” as defined in Clause 6.1 (b). 

“Services” as defined in Recital A. 

“Shortfall” as defined in Clause 8.10. 

“Tariff” as defined in Clause 6.1. 

  
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 “Tariff Adjustment Formula” as defined in Clause 6.2. 

“Terminating Party” as defined in Clause 14.1. 

“Transhipped Quantities” as defined in Clause 8.3. 

“Vale” as defined in the Preamble. 
  

	 	1.2	 Interpretation: 

  

	 	(a)	 The descriptive headings of clauses are inserted solely for convenience of reference and are not intended as
complete or accurate descriptions of content thereof and shall not be used to interpret the provisions of this Contract; 

  

	 	(b)	 The use of words in the singular or plural, or with a particular gender, shall not limit the scope or exclude
the application of any provision of this Contract to any person or persons or circumstances except as the context otherwise permits; 

  

	 	(c)	 References to the word “agreed” shall be construed as being agreed between the Parties hereto;

  

	 	(d)	 The Annexures to this Contract form an integral part of this Contract and will be in full force and effect as
though they were expressly set out in the body of the Contract; 

  

	 	(e)	 Reference to any legislation or law or to any provision thereof, unless the context or the meaning thereof
suggests the contrary, shall include references to any such law as it may, after the date hereof, from time to time, be amended, supplemented or re-enacted, and any reference to a statutory provision shall
include any subordinate legislation made from time to time under that provision; 

  

	 	(f)	 The terms “hereof”, “herein”, “hereby”, “hereto” and derivative or
similar words refer to this entire Contract; and 

  

	 	(g)	 The recitals shall constitute an integral and operative part of this Contract. 

  
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	2.	 Effective Date and Term 

 

	 	2.1	 This Contract shall become effective on the date of signing (the “Effective Date”).

  

	 	2.2	 The period for the performance of the Services under this Contract shall be twenty (20) calendar years
(the “Contract Term”) from the completion of the construction and commissioning of the New Facility and the commencement of the Services at the New Facility (the “Commencement Date”). Such Commencement Date shall be
declared by Navios in the Commencement Certificate (as defined below), following the commencement of the Services at the New Facility, in accordance with Clause 4.3. 

 

	 	2.3	 The Contract Term shall be extended by a period equal to the duration of any Force Majeure Event (as defined
below) properly declared in accordance with Clause 15. 

  

	 	2.4	 The Contract Term may be extended by an additional period of ten (10) years if the Parties so mutually
agree. Not later than one (1) calendar year prior to the expiry of the initial twenty (20) year period the Parties shall hold negotiations to discuss such possible extension. 

 

	3.	 Condition Subsequent 

 

	 	3.1	 It shall be a condition subsequent to the continued operation and effectiveness of this Contract (the
“Condition Subsequent”) that by no later than one (1) calendar year as from the Effective Date Navios shall have issued a certificate (the “Certificate to Proceed”) confirming that they have been able to:

  

	 	(a)	 conclude terms and conditions acceptable to Navios with (i) suitable financiers to finance the
construction of the New Facility, and (ii) with suitable contractors and suppliers for the construction of the New Facility in accordance with the terms of this Contract; and 

 

	 	(b)	 obtain all governmental permissions, permits, licenses and approvals required to commence the construction of
the New Facility. 

  
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	 	3.2	 The period set forth in Clause 3.1. may be extended by Navios for an extra period of one (1) calendar year
to cover potential delays in the commencement of construction of the New Facility (including obtainment of needed permits, licenses and/or approvals). If the Condition Subsequent has not been satisfied within two (2) calendar years from the
Effective Date, this Contract shall be automatically cancelled and deemed to be of no (or no further) force and effect, without any liability or compensation of any nature whatsoever to either Party. 

 

	4.	 The New Facility 

 

	 	4.1.	 Navios agree to design, finance, construct, commission, operate and maintain the New Facility as further
described in Annexure 1 to this Contract. The New Facility will be designed to be capable of providing the Services for up to five million (5,000,000) tons of Cargo per annum. The New Facility shall be designed to have the potential to double its
capacity, subject to further expansion and further terms to be mutually agreed between the Parties. Notwithstanding the foregoing, it is the parties’ intention that the Services be provided for transhipping six million (6,000,000) tons of Cargo
per annum. 

  

	 	4.2	 Without prejudice to Clause 3, the design, construction and commissioning of the New Facility shall be
completed within twenty four (24) calendar months from the commencement of construction of the New Facility; provided that such period shall be extended as a consequence of the occurrence of any of the following events that causes an extension
of time under the New Facility construction agreement such as: (i) variations to the technical specifications (either proposed by the constructor or Navios), (ii) force majeure events such as adverse weather, civil commotion, terrorism, general
strikes, unforeseeable shortages in the availability of personnel or supplies, epidemic or governmental actions; (iii) changes in statutory requirements that impact the development of the design or construction and delays intervention
disruptions caused by any relevant authority; (iv) delays resulting from failure of contractor to comply with obligations under the construction agreement; (v) delays in the supply of materials and goods by third parties; governmental
decisions; and any other event timely agreed between Vale and Navios. The commencement of the construction of the New Facility shall take place within three (3) calendar months from the date of issuance of the Certificate to Proceed.

  
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	 	4.3	 Upon the construction and commissioning of the New Facility being completed, and the commencement of Services
at the New Facility, Navios shall issue the commencement certificate to Vale confirming the same (the “Commencement Certificate”). The twenty (20) year Contract Term shall commence upon the date of issuance of such certificate.
The New Facility will be able to accommodate ocean vessels up to the dimensions described in Annexure 1, and will consist of a system of dolphins for berthing and mooring the ocean vessels and for supporting the ship loading equipment.

  

	 	4.4	 Navios guarantee a water depth of thirty four (34) feet fresh water at zero tide for ocean vessels at the
dedicated loading berth and its immediate approaches at the New Facility. 

  

	 	4.5	 Vale will be entitled to inspect the New Facility during its construction. Vale shall give reasonable
written notice in advance of any such inspection(s). The number of attending inspector(s) shall be appropriate in the circumstances and shall not interfere with the on-going construction and works at the New
Facility and the operations of the existing Port Terminal. 

  

	5.	 The Transhipment Services 

 

	 	5.1	 Navios shall provide the Services to Vale for up to five (5) million tons of Cargo per year through the
operation of the New Facility, on a non-exclusive basis. Navios may utilise the New Facility to provide services for other customers, provided that Navios are always able to tranship five million (5,000,000)
tons of Cargo for Vale within each Year of Contract and provided that for any quantity in excess of five million (5,000,000) tons and up to six million (6,000,000) tons within any Contract Year, Vale shall have a first refusal for the use of the New
Facility. If Vale are unable to provide five million (5,000,000) tons of Cargo within any Contract Year, Navios may utilise New Facility to provide services for other customers for the shortfall quantity without further reference to Vale.

  
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	 	5.2	 Barges loaded with Cargo shall be moored by Vale and the respective barge owner(s) at the New Facility’s
dedicated mooring area (where space is available) or at such other locations near the New Facility that are agreed between the Parties. The mooring of the laden barges shall be the exclusive responsibility of Vale and the respective barge owner(s).

  

	 	5.3	 Navios shall provide a dedicated push boat or push boats to push the laden barges from the mooring locations to
the required locations for discharge, and to return the barges to the agreed mooring locations after the barges have been unloaded. 

  

	 	5.4	 The barge discharge operations shall take place either at the New Facility’s Dedicated Unloading Pier or
by way of direct transhipment to ocean vessels or at such other locations as may be agreed from time to time. The New Facility’s dedicated unloading pier shall have sufficient equipment to enable properly equipped and manned barges to moor and
shift alongside the New Facility’s dedicated unloading pier. 

  

	 	5.5	 Cargo landed at the New Facility’s dedicated unloading pier may be stored ashore in open air stock piles.
The stock piles at the New Facility shall have a maximum capacity of 600,000 tons. 

  

	 	5.6	 Where the Cargo is stored in the stock piles, it shall be so stored for a maximum period of forty five
(45) days from the date of unloading from each barge. Where the Cargo is stored for a longer period, this shall be subject to an additional charge in accordance with Clause 6.1 (e), to be adjusted in accordance with the same formula as
described in Clause 6.3. 

  

	 	5.7	 The loading of ocean vessels will be performed using ship loaders. Provided the ocean vessels are of standard
bulk carrier design, the ship loaders will be able to service all ship holds. 

  

	 	5.8	 Ocean vessels and barges will be loaded and discharged whenever possible on a “first come first
served” basis, as explained in the publication titled “Guidelines for Establishing Berthing Priority at the Navios Terminal in Nueva Palmira”, a copy of which has been provided to Vale and receipt of which is hereby
acknowledged by Vale. Such Guidelines (as they may be amended from time to time) are to be considered as fully incorporated into the terms of this Contract. 

  
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	 	5.9	 For the loading of ocean vessels and the discharging of barges, the New Facility shall operate on a
“customary quick dispatch” (CQD) basis. Navios shall schedule sufficient labor resources and facilities as may be required for 24 hours per day. 

  

	 	5.10	 Navios reserve the right not to perform any operations on any one or more of the following days: January 1st, May 1st, July 18th, August 25th, and
December 25th, or their legal equivalent; only 12 hours on December 24st and only 12 hours on December 31st. 

  

	 	5.11	 Navios shall be entitled to 24 running hours per calendar month of designated maintenance time (hereinafter
“Designated Maintenance Time”) to ensure that the New Facility remains in adequate condition to perform under this Contract. The Designated Maintenance Time shall accrue at the end of each complete calendar month from the
Commencement Date. To the extent that Navios do not use the Designated Maintenance Time allowed in any given month, it shall be added to the accrued unused Designated Maintenance Time and can be used by Navios at any time during the Contract Term
subject to Navios giving Vale 5 (five) days’ notice of any time required for maintenance pursuant to this Clause. Without guarantee, Navios shall endeavor to schedule any maintenance conducted in accordance with this Clause so as to cause the
least disruption to the tentative vessel nomination plan. In any event, such usage of unused Designated Maintenance Time shall not exceed a continuous period of 48 (forty eight) hours each time, unless Vale has given prior approval in writing (such
approval not to be unreasonably withheld) for any additional time. 

  

	 	5.12	 The average loading rate of ocean vessels from the dedicated shore facilities (and not applicable to cargo
loaded from barges) shall be approximately 40,000 metric tons per day; and the average discharge rate from barges via shore cranes shall be approximately up to 2,000 (two thousand) tons per hour combined nominal unloading capacity depending upon the
final specifications of the crane to be installed at the New Facility. In both cases, such average loading and discharging rates shall be subject to the following: 

  
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	 	(a)	 The other terms of this Contract, including but not limited to Clauses 5.8 to 5.11 above.

  

	 	(b)	 The ocean vessels and barges being fully capable of receiving and discharging cargo at the specified rates.

  

	 	(c)	 An allowance of plus or minus 10% for “approximately”. 

 

	 	(d)	 Always excluding severe rain or weather delays that prevent normal operations in the New Facility; or Force
Majeure Events as defined below. 

  

	6.	 Tariffs 

  

	 	6.1	 For the Services rendered by Navios to Vale as set forth in this Contract, Vale shall pay Navios the following
fees (each a “Tariff” and collectively the “Tariffs”): 

  

	 	(a)	 A basic Tariff for the Services of United States Dollars (US$) 9.10 per metric ton (the “Basic
Tariff”) for the first five million (5,000,000) tons of Cargo transhipped in each Contract Year. 

  

	 	(b)	 A reduced basic Tariff for the Services of United States Dollars (US$) 4.60 per metric ton (the
“Reduced Basic Tariff”) for any ton(s) of Cargo transhipped in excess of five million (5,000,000) up to six million (6,000,000) tons in any Contract Year. 

 

	 	(c)	 An additional Tariff for handling of barges from the mooring locations to the discharge locations, and return
to the mooring locations, of United States Dollars (US$) 0.80 per metric ton (the “Barge Handling Tariff”) for the first four million (4.000.000) tons of Cargo in any Contract Year. 

 

	 	(d)	 A reduced additional Tariff for handling of barges from the mooring locations to the discharge locations, and
return to the mooring locations, of United States Dollars (US$) 0.70 per metric ton (the “Reduced Barge Handling Tariff”) for any ton(s) of Cargo in excess of four million (4,000,000) tons up to six million (6,000,000) tons in any
Contract Year. 

  
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	 	(e)	 An additional Tariff for storage in stock piles for more than forty five (45) days, of United States
Dollars (US$) 0.20 per metric ton per day (the “Additional Storage Tariff”). The storage days shall be counted based on the concept “first in first out” (FIFO). This Tariff will not apply during the period between April 1st to September 30th, of each Year of Contract and during any periods of Force Majeure properly declared by Navios in accordance with Clause 15.

  

	 	6.2	 The Tariffs have been calculated as of 1st January, 2013,
and shall be increased annually according to the formula set out below (the “Tariff Adjustment Formula”), commencing on 1st January, 2014, and each year thereafter.

  

	 	6.3	 The Tariff Adjustment Formula shall be as follows: 

 

	 	(a)	 Seventy five percent (75%) of each Tariff will be
increased by the rate of annual inflation in the United States of America as recorded in the Consumer Price Index plus 2% during each Contract Year; and 

  

	 	(b)	 The remaining twenty five percent (25%) of each Tariff will be increased by the rate of annual salary inflation
in Uruguay as recorded in the IMS Index on 1st January of each Contract Year, and further adjusted for any variation in the US Dollar to UY peso exchange rate since 1st January of the previous year. 

 For these purposes, the “IMS
Index” shall be the “IMS—Salarios y Compensaciones—Sector Privado, según División CIIU 3. Base Julio 2008 = 100 Período diciembre 2002—al último dato disponible, Instituto Nacional de
Estadistica, Republica Oriental del Uruguay” index (as the same may be amended from time to time) or its replacement if such index shall cease to be published. 

The Tariff Adjustment is expressed in the following formula: 

Tariff t =Tariff t-1 *0.75* (1+CPIt-1 + 0.02)+ Tariff t-1 *0.25* (IMS t /IMS t-1)* (Dt-1/Dt) 

  
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 where: 

D = cost of one dollar in UY pesos 

t = The adjustment year 
 t-1 = The previous year 
 IMS t = IMS Index value corresponding to one month prior to the month in which
the adjustment is due in year t. 
 IMS t-1 = IMS Index value corresponding to one month prior to the
month that the adjustment was due in the previous year, year t-1. 
 CPIt-1: Percent change of Consumer Price Index (CPI) for all Urban Consumers (CPI-U), U.S. City Average, twelve months
ended December Year t-1 as published by the Bureau of Labor Statistics of the U.S. Department of Labor. 
  

	 	6.4	 Not later than three (3) months prior to the end of the
3rd Contract Year, and at three (3) year intervals thereafter, the Parties will discuss whether the Tariff Adjustment Formula described in Clause 6.3. (b) should be reviewed to assess whether
the adjustments made pursuant to such Clause reasonably reflect the increases in operational costs incurred by Navios, provided that if the Parties fail to reach an agreement in that respect, the terms of Clause 6.3 (b) shall remain in full force
and effect for the remainder of the Contract Term (as may be extended under the terms of this Contract). 

  

	 	6.5	 After a fifteen (15) year period of the Contract Term (as may be extended under the terms of this
Contract), the Parties acting reasonably will discuss whether the Tariffs should be reduced once all CAPEX have been recovered, and after taking into consideration past and future investment, operational and improvement costs incurred or to be
incurred in respect of the New Facility; provided that in the event that the Parties fail to reach an agreement in that respect, the terms of the Contract shall remain in full force and effect for the remainder of the Contract Term.

  

	7.	 Payment Terms 

 

	 	7.1	 After each cargo loading, Navios shall issue an invoice to Vale for the Basic and Additional Tariffs to be paid
in respect of the cargo transhipped and loaded based upon the actual quantities recorded in the bill of lading issued by the ocean vessel. Whenever requested by Navios, Vale will provide all necessary details for proper invoicing.

  
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	 	7.2	 Vale shall pay the amount due within fifteen (15) banking days from receipt of such invoice(s).

  

	 	7.3	 Where an invoice is not paid within the agreed period, Vale will pay a late payment compensation calculated at
the rate of 0.5% per week or part thereof for as long as Vale remain in default. 

  

	 	7.4	 All payments shall be made in United States Dollars free of bank charges whatsoever by wire transfer to such
bank account nominated by Navios from time to time. 

  

	 	7.5	 All payments made under this Contract shall be made without deduction, set off or counter claim. Any taxes or
levies on payments to be made under this Contract shall be for the account of the Party making such payment. 

  

	8.	 Minimum Guaranteed Quantity 

 

	 	8.1	 Vale guarantee to Navios that they will tranship through the New Facility and pay the agreed Tariffs described
in Clauses 6.1. (a) and (c) thereon a minimum quantity of four million (4,000,000) metric tons of Cargo (the “Minimum Guaranteed Quantity”) for each and every Contract Year, subject to adjustment as provided for in Clause 8.2
below. The 1st Contract Year shall commence six calendar months after the Commencement Date until December 31st of the said year, the 2nd Contract Year shall commence on January 1st until December 31st of the subsequent year, and
so forth (each a “Contract Year” or a “Year of Contract”). Any periods of Force Majeure properly declared in accordance with Clause 15 shall be added to the Contract Term and to the period of the last Contract Year.

  

	 	8.2	 There shall be a pro rata adjustment in the Minimum Guaranteed Quantity for the first and last Contract Years
where the number of days in such Contract Years is less than 365 days. 

  
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 Where cargo transhipment operations have not been able to take place at the New Facility
and/or Vale has been unable to supply Cargo due to Force Majeure Event(s) properly declared in accordance with Clause 15, the obligation of transhipment and payment of the Minimum Guaranteed Quantity under this Contract shall be suspended for the
duration of such Force Majeure Event and there shall be a pro rata adjustment in the Minimum Guaranteed Quantity relating to said Year of Contract. 

The overall Contract Term shall be extended by the period that the performance of the Contract was prevented or delayed by the occurrence of
the Force Majeure Event, such that Vale shall comply with their obligation to tranship and pay Tariff upon the Minimum Guaranteed Quantity over the full Contract Term. 
  

	 	8.3	 The cargo quantities recorded in bills of lading issued by the ocean vessels shall be used for the purposes of
calculating the quantity of Cargo transhipped through the New Facility (the “Transhipped Quantities”). For the purposes of such calculations, all cargoes transhipped on behalf of Vale and/or its nominated Affiliates will be taken
into account. 

  

	 	8.4	 The Parties agree that, in the event of Vale wholly or partly failing to tranship through the New Facility and
pay the agreed Tariffs on the Minimum Guaranteed Quantity in any Contract Year, subject to Clause 8.2, it is difficult and impracticable to ascertain the amount of actual loss and damage sustained by Navios and, therefore, it is agreed that Vale
shall pay to Navios as liquidated damages a lump sum amount calculated in accordance with Clause 8.5 below. Navios and Vale further agree that the payment of such liquidated damages represents reasonable compensation for the loss incurred by Navios
due to Vale’s failure to comply with its obligation to tranship and pay the Tariffs upon the Minimum Guaranteed Quantity. 

  

	 	8.5	 Subject to Clause 8.2, where the Transhipped Quantities are less than the Minimum Guaranteed Quantity during a
Contract Year, the liquidated damages to be paid by Vale to Navios shall be the accrued shortfall in metric tons multiplied by the aggregate of the Basic Tariff and the Barge Handling Tariff, as applicable to the relevant Contract Year (the
“MGQ Compensation”). 

  
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	 	8.6	 The MGQ Compensation shall be calculated and paid twice per annum during each Contract Year as follows:

  

	 	(a)	 Where the Transhipped Quantities during the first six (6) months of a Contract Year are less than two
million (2,000,000) metric tons (such amount subject to a pro rata adjustment for (1) the first and last Contract Years and/or (2) any periods of Force Majeure during the first six months of a Contract Year properly declared in accordance
with Clause 15, Vale shall make a payment on account calculated by multiplying the accrued shortfall by the aggregate of the Basic Tariff and the Barge Handling Tariff, as applicable to the relevant Contract Year. 

 

	 	(b)	 Where the Transhipped Quantities for a Contract Year are less than four million (4,000,000) metric tons (such
amount subject to a pro rata adjustment for (1) the first and last Contract Years and/or (2) any periods of Force Majeure during the Contract Year properly declared in accordance with Clause 15, the MGQ Compensation for that Contract Year
shall be the accrued shortfall in metric tons over the Contract Year multiplied by the aggregate of the Basic Tariff and the Barge Handling Tariff, as applicable to the relevant Contract Year less any payment on account made under sub-clause (a) above. 

  

	 	8.7	 Navios shall issue invoices to Vale for any MGQ Compensation payable in accordance with Clause 7. Vale shall
pay the amount due within fifteen (15) banking days from receipt of such invoice(s). 

  

	 	8.8	 Where a payment on account in respect of MGQ Compensation made in accordance with Clause 8.6(a) exceeds the MGQ
Compensation payable in respect of that Contract Year, such overpayment shall be reimbursed by Navios to Vale. Such reimbursement shall be made by Navios within fifteen (15) banking days from receipt of Vale’s invoice.

  

	 	8.9	 Where Vale have paid MGQ Compensation to Navios in respect of a Contract Year and in the next Contract Year the
quantity of Cargo transhipped exceeds four million (4,000,000) metric tons, the following discounts shall be applied to the aggregate Tariffs to be charged in respect of such excess quantity (the “Excess Quantity”):

  
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 (a) Where the Excess Quantity is less or equal to one million (1,000,000) metric tons,
US$1.50 per metric ton on each ton of Excess Quantity; and 
 (b) Where the Excess Quantity is more than one million (1,000,000) metric tons,
US$1.50 per metric ton on each ton of Excess Quantity up to one million tons and US$4.50 per metric ton on each ton in excess thereof; provided that the discounts set forth in this Clause shall not be applied cumulatively with the discounts
described in Clause 8.10 below. 
  

	 	8.10	 If in any Contract Year, the Minimum Guaranteed Quantity of Cargo cannot be transhipped by Vale through the New
Facility due to proven wilful misconduct or gross negligence of Navios, the resulting shortfall quantity in the Minimum Guaranteed Quantity of the said Year of Contract (the “Shortfall”) shall be carried forward to the subsequent
two (2) Years of Contract; and the Tariffs corresponding to said subsequent Years of Contract will be as follows: (i) up to four million (4,000,000) tons, U$S 9.10, as Basic Tariff and U$S 0.80 as Barge Handling Tariff; (ii) in excess
of four million (4.000.000) tons and up to the Shortfall, U$S 4.60, as Basic Tariff and U$S 0.70 as Barge Handling Tariff; both as adjusted in accordance with Clauses 6.2 and 6.3 above. Notwithstanding the foregoing, if during the said subsequent
Years of Contract, the Minimum Guaranteed Quantity of Cargo still cannot be transhipped due to proven wilful misconduct or gross negligence of Navios, then the following Year of Contract Navios shall pay, as liquidated damages, an amount of U$S 4.60
per metric ton equivalent to the Shortfall and Navios and Vale further agree that the payment of such liquidated damages represents reasonable compensation for the loss incurred by Vale due to Navios’ failure to comply with its obligation to
tranship as described herein above. Therefore, once the deduction has been paid under this Clause, it shall not be carried forward to subsequent Contract Years 

 

	 	8.11	 For the avoidance of doubt, in the event that either Party fails to meet its respective obligations with regard
to the Minimum Guaranteed Quantity, its liabilities for such failure shall be as set out in this Clause 8 and the provisions of Clause 13.2 shall otherwise apply. 

  
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	9.	 Ocean Vessels 

 

	 	9.1	 Vale shall nominate ocean vessels suitable in all respects for loading Cargo at the New Facility. Each ocean
vessel nominated for loading shall comply with the following requirements: 

  

	 	(a)	 Single deck geared or gearless bulk carriers classed 100A1 Lloyd’s Register or equivalent;

  

	 	(b)	 No tweendeckers; 

  

	 	(c)	 Maximum length overall of 275 metres; 

 

	 	(d)	 Maximum beam of 45 metres; 

 

	 	(e)	 Maximum moulded depth 24 meters. 

 

	 	9.2	 Vale shall procure that all nominated ocean vessels will perform the following functions at no cost to Navios,
any time day or night, Sundays and holidays included: 

  

	 	(a)	 Passing and receiving mooring lines; 

 

	 	(b)	 Opening and closing of hatches; 

 

	 	(c)	 Shifting fore and aft alongside the dock under own power so as to permit efficient positioning of the vessel at
the time of berthing; 

  

	 	(d)	 Allowing and providing shore side labor safe access aboard the vessel for loading and ancillary purposes;

  

	 	(e)	 The ship’s Master and/or Chief Officer to be available to develop, monitor and co-ordinate an efficient loading plan; 

  

	 	(f)	 Loading or discharging clean water ballast as appropriate consistent with efficient cargo operations.

  

	 	9.3	 Vale shall nominate each performing ocean vessel to Navios no later than ten (10) days prior to the
ship’s estimated time of arrival (“ETA”) at Nueva Palmira, where it is practicable to do so, and shall update the nominated ship’s ETA every day thereafter. All costs and consequences resulting from Vale’s failure to
nominate an ocean vessel at least ten (10) days prior to arrival or to provide updated ETAs shall be borne solely by Vale. 

  
 17 

	 	9.4	 Vale shall procure that, after arriving at the anchorage off Nueva Palmira, the ocean vessels shall issue a
notice of readiness to Navios and shall be given berthing priority in accordance with the “Guidelines for Establishing Berthing Priority at the Navios Terminal in Nueva Palmira”. If for any reason an arrived ocean vessel leaves the
anchorage, including performing operations at another terminal, such vessel shall lose its berthing priority. 

  

	10.	 Barges 

  

	 	10.1	 Upon departure of the river barge fleet from the upriver loading location(s) (the “Barge Loading
Locations”), Vale will advise Navios of the estimated time of arrival of the barge fleet at the New Facility. 

  

	 	10.2	 All barges used by Vale shall be hopper barges of an appropriate type and size for discharge operations at the
New Facility and built in accordance with Hidrovía Paraguay- Paraná regulations. 

  

	 	10.3	 The barges shall be in all respects ready to be discharged and to receive grabs on arrival at the New
Facility’s dedicated unloading pier or upon coming alongside the ocean vessel for direct transhipment. 

  

	11.	 ISPS Compliance 

Vale shall ensure that all ocean vessels, barges, and tugs/pushers arriving at the New Facility and their respective crews or drivers do not
cause or contribute to a violation of Navios ́ legal duties under the International Ship and Port Safety Code (ISPS Code) as incorporated into the laws of the República Oriental del Uruguay. 

 

	12.	 Cargo Documentation and Insurance 

 

	 	12.1	 Vale shall be exclusively responsible for the provision of all required documents relating to the Cargo,
including certificates of origin and value. Where appropriate, such documents shall record the words “EN TRANSITO VIA ZONA FRANCA DE NUEVA PALMIRA A CARGO DE CORPORACION NAVIOS SOCIEDAD ANONIMA”. 

  
 18 

	 	12.2	 The title and risk of the Cargo transhipped, handled, stored and/or loaded at the New Facility shall always
remain with Vale. Vale shall, at its cost, take appropriate insurance cover to insure the risk of loss or damage to the Cargo, with a non-recourse clause in favour of Navios whereby such insurers shall agree
in the policies to waive all rights of subrogation against Navios, except when the claims indemnified were caused by (i) an act committed by an employee or representatives of Navios, before condemned of an offense against the property, since
that fact was known by Navios and/or (ii) bad conservation of equipment employed for providing the Services in a manner substantially against the standards of the industry. Navios shall have no responsibility whatsoever for insuring the cargo
or for any loss or damage to the Cargo, whether in contract, tort, for breach of statutory duty, or otherwise. 

  

	13.	 Liabilities 

  

	 	13.1	 Subject to the provisions of this Clause and this Contract, each Party shall forthwith on demand indemnify the
other Party against any claim, loss, liability or damage which such Party shall incur or suffer as a consequence of any breach by the other Party of this Contract (including but not limited to any claim, loss, liability or damage such Party may
incur to a third party). 

  

	 	13.2	 Notwithstanding the provision above, the Parties shall not be liable whether in contract, tort (including
negligence) strict liability or otherwise, for: 

  

	 	(a)	 loss of anticipated profits or revenues; or 

 

	 	(b)	 consequential and/or indirect losses or damages, 

of any nature arising at any time from any cause whatsoever. This Clause 13.2 shall apply notwithstanding any other provision in this Contract.

  

	14.	 Termination 

  

	 	14.1	 Either Party (the “Terminating Party”) may immediately terminate this Contract by giving written
notice to the other Party, and the other Party shall be deemed to be in default of this Contract and liable to pay compensation to the Terminating Party in accordance with this Contract, if: 

  
 19 

	 	(a)	 the other Party commits a material breach of any of its obligations under this Contract and, if the breach is
capable of remedy, the Party in breach fails to remedy it within one hundred and eighty (180) days after being given a written notice advising it of the breach and requiring it to be remedied, except with respect to item (g), in which case,
Navios will be entitled to remedy the breach within eight (8) months after being given written notice by Vale; 

  

	 	(b)	 an administrative receiver, receiver or manager is appointed over a substantial part of the assets or
undertaking of the other Party or any other executory steps are taken to enforce any encumbrance or security interest over a substantial part of the assets or undertaking of the other Party; 

 

	 	(c)	 the other Party assigns or transfers any of its obligations under this Contract in breach of Clause 18 of this
Contract without the approval of the Terminating Party; 

  

	 	(d)	 the other Party goes into liquidation or is declared, either by resolution or by order of any court of
competent jurisdiction, to be insolvent or bankrupt or files a voluntary petition for re-organization and/or rehabilitation, or seeks an arrangement with its creditors generally; 

 

	 	(e)	 anything analogous to any of the foregoing under the law of any jurisdiction occurs in relation to the other
Party; 

  

	 	(f)	 the other Party completely ceases to carry on all business activity; 

 

	 	(g)	 if, within a period of two consecutive Contract Years the average performance rates for loading of ocean
vessels and discharge from barges are less than 50% of the average loading and discharging rates described in Clause 5.12, then Vale will be entitled to terminate this Contract, but only after having given written notice and after having allowed
Navios a remedy period of eight (8) months as described in Clause 14.1 (a); 

  
 20 

	 	(h)	 if the construction and the commissioning of the New Facility is not completed by December 31st, 2018; or 

  

	 	(i)	 if Vale International SA ceases to be the wholly owned subsidiary of Vale S.A. 

 

	 	14.2	 For the purposes of this Clause 14, a breach shall be considered capable of remedy if the Party in breach can
comply with the obligation in question in all respects other than as to the time of performance (provided that the time of performance is not of the essence). 

 

	 	14.3	 The rights to terminate this Contract given by this Clause 14 shall not prejudice any other right or remedy of
either Party in respect of the breach concerned or any other breach. 

  

	 	14.4	 This Contract may be terminated early only in accordance with it express terms and on no other grounds
whatsoever. This Contract may be terminated early in accordance with it express terms and no other grounds whatsoever Termination of this Contract does not affect a Party’s vested rights and obligations at the date of Termination.

  

	15.	 Force Majeure 

 

	 	15.1	 The Parties shall be relieved from the performance of this Contract, and shall not be liable for the failure to
perform their obligations hereunder due to a Force Majeure Event (a “Force Majeure Event”). A Force Majeure Event shall mean an event beyond the control and without the fault or negligence of the affected Party and which could not have
been reasonably foreseen by the affected Party, including but not limited to Acts of God (low water in the river excluded); public enemies; civil commotion; floods; war or warlike operations (whether war be declared or not); fires; sabotage;
terrorism; accidents; labor disputes, strikes, lockouts or either total or partial interruption that prevents provision of Services due to duly evidenced unilateral decision of national or regional labor unions or of Navios’ employees or
subcontractors; riots; epidemics; quarantine restrictions; nationalization; government sanction or restriction; embargo; seizure under legal 

  
 21 

	 	
process or the operation of international law; labor disputes, strikes, lockouts, or either total interruption or partial interruption which prevents operations at Mines nominated by Vale,
railways or roads from the Mines due to either duly evidenced unilateral decision(s) of national or regional labor unions or of Vale’s employees or the employees or subcontractors of Vale affiliates, or bad weather which lasts for more than ten
(10) consecutive days; or any other reason whatsoever completely beyond the control of the Parties; provided always that the said Force Majeure Event(s) shall prevent the receipt, storage and/or transshipment of Cargo at the New Facility under
this Contract. 

  

	 	15.2	 If the performance of this Contract is prevented by any such Force Majeure Event, the Party so affected shall
notify the other Party thereof, in writing, by telex, electronic mail (e-mail) or facsimile, within ten (10) calendar days, on or after the commencement of such occurrence, setting forth the full
particulars in connection therewith, and shall use its best endeavors to remedy such occurrence with all reasonable dispatch, and shall promptly give written notice to the other Party of the cessation of such occurrence. 

 

	 	15.3	 The obligations of the Party giving the notice, so far as they are affected by the Force Majeure Event, shall
be suspended during, but no longer than, the duration of the Force Majeure Event, and the Contract Term shall be automatically extended by a period equal to such suspension. 

 

	 	15.4	 If a Force Majeure Event is forecast to prevail for more than three (3) months, the Parties shall agree
upon the time of delivery for the quantities of Cargo still not discharged and/or stockpiled due to such Force Majeure Event, having taken into consideration the possibilities of both Parties and the expected duration of such Force Majeure Event.

  

	16.	 Representations and Warranties 

 

	 	16.1	 Each Party hereto represents and warrants to the other Party that at the Effective Date, the Commencement Date
and throughout the Contract Term that: 

  

	 	(i)	 Each Party: (a) is duly organized, validly existing and in good standing under the laws of the place of
its incorporation; (b) is duly qualified to transact business in every jurisdiction where, because of the nature of its business or property, such qualification is required; (c) has full power and authority to own its property and assets
and to carry on its 

  
 22 

	 	
business as now conducted; (d) has full power to execute, deliver and perform its obligations hereunder and (e) possesses or will possess those things which are described in Clause 3.1
at the Commencement Date, as the case may be, and (f) all necessary approvals and licenses from the relevant governmental authority or as otherwise may be required in order to conclude this Contract and to perform its obligations hereunder.

  

	 	(ii)	 The execution and delivery of, and the performance by each Party of its obligations under this Contract:
(a) are within its corporate powers; (b) have been duly authorized by all requisite corporate action; (c) do not violate any provision of law, any order of any court or other agency of government, its corporate chapter or by-laws; and (d) do not violate any indenture, Contract or other instrument to which each Party is individually a party to, or by which it is bound, or is in conflict with, results in a breach of, or
constitutes (with due notice or lapse of time or both) a default under any such Contract. 

  

	 	(iii)	 There is no action, suit or proceeding at law or in equity by or before any governmental authority now pending
or, to the knowledge of each Party, threatened against or affecting each Party which, if adversely determined, would have a material adverse effect on each Party’s ability to perform its obligations under this Contract. 

 

	 	(iv)	 This Contract represents a legal, valid and binding obligation on each Party and is enforceable against each
Party, in accordance with its terms except as such enforceability may be limited by the effect of any applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally. 

 

	 	(v)	 Vale and Navios hereby covenant and agree that until the full obligations under this Contract have been
properly performed and discharged, whether now existing or arising hereafter, Vale and Navios shall: 

  

	 	(a)	 do or cause to be done all things necessary to preserve, renew and keep in full force and affect its corporate
existence; 

  
 23 

	 	(b)	 comply with all applicable laws, rules, regulations and orders, whether now in effect or hereafter enacted or
promulgated by any applicable governmental authority; 

  

	 	(c)	 do or cause to be done all things necessary to maintain in full force and effect all licenses and permits and
insurance that are material or necessary for the operation of its business in connection with the performance of its obligations hereunder; and 

  

	 	(d)	 do or cause to be done all things necessary to preserve, renew and keep in full force approvals, licenses and
permits from the relevant governmental authority, necessary for the performance of this Contract. 

  

	17.	 Foreign Corrupt Practices Act 

The Parties hereby promise that, in all of their activity in connection with this Contract and/or on behalf of each other, they will at all
times comply with all applicable regulations, laws and legislation, including anti-bribery law, or anti-corruption law 
  

	18.	 Assignment 

  

	 	18.1	 The benefit of this Contract shall inure for the benefit of the Parties and their respective successors and
permitted assigns. Subject to Clause 18.2, neither Party shall transfer, novate or assign this Contract or any obligations or rights arising of this Contract to third parties without the written consent of the other Party, which consent shall not be
unreasonably withheld. 

  

	 	18.2	 Navios may assign or transfer its rights under this Contract (or any document referred to in this Contract to
which it is a Party) to any bank or financial institution as security for its indebtedness. 

  

	 	18.3	 If there is an assignment or transfer of rights in accordance with Clauses 18.1 and 18.2 and written notice of
such assignment or transfer has been given to the other Party, thereafter: 

  

	 	(a)	 such other Party shall discharge its obligations under this Contract to the relevant assignee; and

  

	 	(b)	 the assignee may enforce this Contract as if it were named as a party to this Contract. 

  
 24 

	19.	 Confidentiality 

 

	 	19.1	 During the term of this Contract and for a period of five (5) years thereafter, the Parties shall treat
all information disclosed or otherwise made available to either Party pursuant to or in the course of this Contract, whether orally or in any other manner, hereinafter referred to as “Confidential Information”, with the same degree of
confidence as it treats its own confidential information of a similar nature, and neither Party shall disclose any Confidential Information to any third parties without having obtained the other Party’s prior express written permission to do
so, unless specifically provided for herein below. 

  

	 	19.2	 The obligation of confidentiality imposed upon each of the Parties pursuant to this Clause 19 shall not apply
to any information: (i) that was already in the possession of the receiving party at the time of disclosure by the disclosing party, or is rightfully obtained from a source other than from the disclosing party; (ii) which at any time
becomes available to the public or is or has gone into the public domain through no fault of the receiving party; (iii) which, after disclosure by the disclosing party to the recipient, is at any time lawfully obtained by the recipient from
third parties who are under no confidential obligation to the disclosing party; or (iv) that is required by auditors, legal advisers, financial advisors, prospective lenders, insurers, and/or regulators; or (v) which is required by law to
be disclosed by the receiving party pursuant to an order of a court or administrative body of competent jurisdiction or government agency, provided that the receiving party shall notify the disclosing party in the event the disclosing party elects
to legally contest, request confidential treatment, or otherwise avoid such disclosure; or to the extent required by law or regulation, including disclosure to shareholders, bondholders and other investors as required by law or under listing or
regulatory requirements. 

  

	 	19.3	 Either of the Parties shall be entitled, without receiving the other Party’s prior written permission, to
disclose to its officers, employees and contractors that are directly concerned with and have a need to evaluate or use, any technical confidential information disclosed by the other Party. Upon disclosure of such technical confidential information,
any of the Parties: 

  
 25 

	 	i.	 shall warn its respective officers, employees and contractors of the confidential and proprietary nature of
such information, and the terms and conditions of this Contract; and 

  

	 	ii.	 use all reasonable manners to safeguard and prevent unauthorized disclosure or use by such officers, employees
and contractors. 

  

	20.	 Notices 

  

	 	20.1	 Any notice and other communication provided for in this Contract shall be in writing and shall be first
transmitted by facsimile transmission, e-mail, registered post or courier: 

 If to
Navios:     
 Address: Zona Franca Aguada Park, Paraguay 2141, Of. 1603. 

Montevideo, Uruguay 
 C.C.: 

Navios South American Logistics S.A. 

Address: Av. Santa Fe 846, 2nd Floor Buenos Aires, Argentina 

If to Vale:     

Address: Route de Pallatex 29 

1162 Saint Prex -Switzerland 
  

	 	20.2	 All notices shall be deemed to have been validly given on (i) the business date immediately after the date
of transmission if transmitted by facsimile transmission or e-mail, or (ii) the expiry of seven (7) days after posting if sent by registered post, or (iii) the business date of receipt, if sent
by courier. 

  
 26 

	 	20.3	 Any Party may, from time to time, change its address or representative for receipt of notices provided for in
this Contract by giving to the other Party not less than fifteen (15) days prior written notice. 

  

	21.	 Waiver, Amendments or Modifications 

Any waiver, amendment or modification of any term or condition of this Contract must be in writing and signed by the Party against whom that
waiver, amendment or modification is sought to be enforced. No waiver by any Party of any breach hereunder shall be deemed to be a waiver of any other breach or any subsequent breach. 

 

	22.	 Severability 

If any provision of this Contract or the application thereof to any person or circumstance is held to be invalid or unenforceable to any extent
for any reason including by reason of any law or regulation or government policy, the remainder of this Contract and the application of such provision to persons or circumstances other than those which are held invalid or unenforceable, shall not be
affected thereby, and each provision of this Contract shall be valid and enforceable to the fullest extent permitted by law. Any invalid or unenforceable provision of this Contract shall be replaced with a provision, which is valid and enforceable
and most nearly reflects the original intent of the unenforceable provision. 
  

	23.	 Relationship 

Nothing in this Contract nor the performance by the Parties of their respective obligations thereunder shall constitute or be deemed to
constitute a partnership between the Parties and any one or more other Person or confer on any Party any authority to bind the other or to contract in the name of the other or to incur any liability or obligation on behalf of the other or make
it/deem the agent of the other in any way. 

  
 27 

	24.	 Further Assurances 

The Parties shall render necessary assistance and co-operation to each other and act in good faith and
do all that is reasonably necessary to give complete legal effect to the transactions contemplated herein including but not limited to furnishing information required or necessary for compliance with statutory and regulatory requirements and
executing additional documents for such purposes. 
  

	25.	 Applicable Law/Dispute Resolution 

 

	 	25.1	 This Contract and any contractual or non-contractual obligations
arising out of or in connection with it shall be governed exclusively by English Law. 

  

	 	25.2	 Any disputes arising out of or in connection with this Contract (whether of a contractual or non-contractual nature) shall be settled amicably. In case no such settlement can be reached, the matter in dispute shall be referred exclusively to arbitration in London. 

 

	 	25.3	 Any dispute where the total amount claimed by either Party does not exceed USD 100,000.00 (one hundred thousand
United States dollars) (excluding interest and costs) shall be referred to arbitration in London in accordance with the London Maritime Arbitrator’s Association (“LMAA”) Small Claims Procedure current at the time when the arbitration
proceedings are commenced. 

  

	 	25.4	 For any disputes where the total amount claimed exceeds USD 100,000.00 (one hundred thousand United States
dollars) (excluding interest and costs) the matter in dispute shall be referred to arbitration in London before a panel of three arbitrators (one each to be appointed by the Parties and the third to be appointed by the two party appointed
arbitrators) with the LMAA Rules in force at the commencement of the arbitration to apply. 

  

	 	25.5	 Any award of a majority of the arbitrators shall be final and binding upon both Parties and may be entered in
any court having jurisdiction. 

  

	26.	 Entire Contract 

This Contract is the entire Contract between the Parties with respect to the subject matter, and supersedes all prior discussions,
representations, warranties, and can be amended only by a written addendum between the Parties. 

  
 28 

	27.	 Counterparts 

This Contract may be executed in two counterparts each of which shall be deemed to be original but shall together constitute one Contract only.

  

	28.	 Third Party Rights 

No term of this Contract is intended to, or does, confer a benefit or remedy on any third party. A person, company or other legal entity who is
not a party to this Contract shall not have nor acquire, whether by virtue of the Contracts (Rights of Third Parties) Act 1999 or otherwise, any rights in relation to this Contract. 

 

	29.	 General 

  

	 	29.1	 The headings in this Contract are included for convenience only and shall affect neither the construction nor
interpretation of any provision of this Contract nor the rights or obligations of the Parties to this Contract. If any one or more of the terms, conditions or provisions in this Contract or any part thereof shall be held to be invalid, void or of no
effect for any reason whatsoever, the same shall not affect the validity of the remaining terms, conditions or provisions of this Contract which shall remain and subsist in full force and effect. 

 

	 	29.2	 No failure or delay by a Party to exercise any right or remedy provided under this Contract or by law shall
constitute a waiver of that or any other right or remedy, nor shall it preclude or restrict the further exercise of that or any other right or remedy. No single or partial exercise of such right or remedy shall preclude or restrict the further
exercise of that or any other right or remedy. 

  

	 	29.3	 All notices given by either party shall be in writing (cable, telex, fax,
e-mail, registered or recorded mail, or by personal service) and shall be in English. 

  

	 	29.4	 It is mutually agreed that this Contract shall be performed subject to the conditions contained in this
Contract, which shall include its Annexes. In the event of a conflict of conditions, the provisions of the Contract shall prevail over those Annexes to the extent of such conflict. 

  
 29 

 IN WITNESS WHEREOF the Parties hereto have caused this Contract to be duly executed the day and year first
above written. 
  

	
	Signed by:
	
	CORPORACION NAVIOS SOCIEDAD ANONIMA
	
	Duly authorized
	
	/s/ Claudio P. Lopez
	Name: Claudio P. Lopez
	Position: Chief Executive Officer
	
	/s/ Ruben Martinez
	Name: Ruben Martinez
	Position: C.O.O. Port Division
	
	Signed by:
	
	VALE INTERNATIONAL SA
	
	Duly authorized
	
	/s/ Fidel Blanco
	Name: Fidel Blanco
	Position: Director
	
	/s/ Mauricio Assad Neder
	Name: Mauricio Assad Neder
	Position: Director

 Unloading, Storing, Weighing and Loading Services Contract made by and between Vale International SA and
Corporacion Navios Sociedad Anonima, dated September 27, 2013.EX-10.1

 Exhibit 10.1 

AGCO/SPECCO INTELLECTUAL PROPERTY CROSS LICENSE AGREEMENT 

by and among 
 CORTEVA,
INC., 
 AGCO LICENSORS, 

AGCO LICENSEES, 

DOWDUPONT INC., 
 SPECCO
LICENSORS 
 and 

SPECCO LICENSEES 
 Dated as
of June 1, 2019 

 AGCO/SPECCO INTELLECTUAL PROPERTY CROSS-LICENSE AGREEMENT 

This AGCO/SPECCO INTELLECTUAL PROPERTY CROSS-LICENSE AGREEMENT (this “Agreement”), dated as of June 1, 2019 (the
“Effective Date”), is entered into by and among Corteva, Inc., a Delaware corporation (“AgCo”), the AgCo Licensors and the AgCo Licensees, on the one hand, and DowDuPont Inc., a Delaware corporation
(“SpecCo”), the SpecCo Licensors and the SpecCo Licensees, on the other hand (each of AgCo and SpecCo, a “Party” and together, the “Parties”). 

WHEREAS, AgCo and SpecCo are parties to that certain Separation and Distribution Agreement, dated April 1, 2019 (the
“Separation Agreement”); 
 WHEREAS, as of and following the Effective Time (as defined in the Separation
Agreement), each Party and its Affiliates have rights to certain Patents, Know-How, Copyrights and Software (each, as defined in the Separation Agreement); and 

WHEREAS, in connection with the Separation Agreement, the SpecCo Licensors wish to grant to the AgCo Licensees, and the AgCo Licensors
wish to grant to the SpecCo Licensees, a license and other rights to certain of such Patents, Know-How, Copyrights and Software, in each case as and to the extent set forth herein. 

NOW, THEREFORE, in consideration of the foregoing and the mutual agreements, provisions and covenants contained in this Agreement, the
Parties hereby agree as follows: 
 ARTICLE I 

DEFINITIONS AND INTERPRETATION 

Section 1.1    General. As used in this Agreement, the following terms shall have the meanings set forth in
this Section 1.1. Capitalized terms that are not defined in this Agreement shall have the meanings set forth in the Separation Agreement. 

(1)    “Action” means any demand, action, claim, cause of action, suit, countersuit, arbitration,
inquiry, case, litigation, subpoena, proceeding or investigation (whether civil, criminal or administrative) by or before any court or grand jury, any Governmental Entity or any arbitration or mediation tribunal or authority. 

(2)     “AgCo Field” means the field of the Agriculture Business and natural evolutions thereof. 

(3)    “AgCo Licensed Copyrights” means any and all Copyrights to the extent Controlled by AgCo or any of
its Affiliates, and Used in the Specialty Products Business, as of the Effective Date, including the Copyrights set forth on Schedule B. Notwithstanding the foregoing, AgCo Licensed Copyrights expressly exclude any and all (i) Know-How, (ii) IT Assets and (iii) Excluded IP. 

  
 2 

 (4)    “AgCo Licensed Engineering Standards” means
Engineering Standards (including as set forth on Schedule E(i)), each, to the extent both (i) owned by AgCo or any of its Affiliates, or with respect to which AgCo or any of its Affiliates has the right to grant the license or other
rights granted to SpecCo hereunder without payment obligations to any Third Party, as of the Effective Date and (ii) that is actually used by SpecCo or its Affiliates in the conduct of the Specialty Products Business as of the Effective Date.
Notwithstanding the foregoing, the AgCo Licensed Engineering Standards shall expressly exclude (i) Regulatory Data, (ii) Governmental Approvals, (iii) CRISPR Technology, (iv) TMODS IP, (v) Trademarks, and (vi) the
Intellectual Property set forth on Schedule A. 
 (5)    “AgCo Licensed IP” means the AgCo
Licensed Patents, AgCo Licensed Know-How, and AgCo Licensed Copyrights. 

(6)    “AgCo Licensed Know-How” means any and all Know-How to the extent Controlled by AgCo or any of its Affiliates, and Used in the Specialty Products Business, as of the Effective Date, including the Know-How set forth on
Schedule C. Notwithstanding the foregoing, AgCo Licensed Know-How expressly excludes any and all (i) IT Assets and (ii) Excluded IP. 

(7)    “AgCo Licensed Patents” means any and all (i) Patents set forth on Schedule D to the
extent Controlled by AgCo or any of its Affiliates as of the Effective Date, (ii) Patents to the extent such Patents Cover any AgCo Licensed Know-How and are Controlled by AgCo or any of its Affiliates
following the Effective Date and (iii) to the extent Controlled by AgCo or any of its Affiliates as of or following the Effective Date, continuations, divisionals, renewals,
continuations-in-part, patents of addition, restorations, extensions, supplementary protection certificates, reissues and
re-examinations of, and all other Patents that claim priority to, any Patents described in either of the foregoing subsections (i) or (ii), and foreign equivalents thereof, in each case to the extent the
claims are supported by any Patents described in either of the foregoing subsections (i) or (ii) (but in all cases expressly excluding any and all Excluded IP). 

(8)    “AgCo Licensed SHE Standards” means the DuPont Safety, Health, and Environmental Standards
(including as set forth on Schedule E(ii)), each, to the extent both (i) owned by AgCo or any of its Affiliates, or with respect to which AgCo or any of its Affiliates has the right to grant the license or other rights granted to SpecCo
hereunder without payment obligations to any Third Party, as of the Effective Date and (ii) that is actually used by SpecCo or its Affiliates in the conduct of the Specialty Products Business as of the Effective Date. Notwithstanding the
foregoing, the AgCo Licensed SHE Standards shall expressly exclude (i) Regulatory Data, (ii) Governmental Approvals, (iii) CRISPR Technology, (iv) TMODS IP, (v) Trademarks, and (vi) the Intellectual Property set forth
on Schedule A. 
 (9)    “AgCo Licensed Standards” means the AgCo Licensed SHE Standards and the
AgCo Licensed Engineering Standards. 
 (10)    “AgCo Licensees” means (a) Pioneer Hi-Bred International, Inc., with respect to the licenses granted hereunder by PM Taiwan, Inc., and (b) E.I. du Pont de Nemours and Company, with respect to the licenses granted hereunder by DuPont US Holding,
LLC, DuPont Industrial Biosciences USA, LLC, Specialty Products N&H, Inc., DuPont Electronics, Inc., DuPont Safety & Construction, Inc., and DuPont Polymers, Inc. 

  
 3 

 (11)     “AgCo Licensors” means Pioneer Hi-Bred International, Inc. and E.I. du Pont de Nemours and Company. 
 (12)    
“Authorized User” means a Party and its Affiliates, including, for clarity, any Person that becomes an Affiliate of such Party after the Effective Date (but, subject to Section 10.2, only for so long as
such Person remains an Affiliate of such Party) and its and their Personnel. 
 (13)    “Business
Software” means with respect to a Licensor, all Software to the extent Controlled by such Licensor or any of its Affiliates as of the Effective Date, which Software is reasonably required as of the Effective Date for the conduct of
(i) the Agriculture Business if the Licensee is AgCo, including as listed on section (i) of Schedule I, or (ii) the Specialty Products Business if the Licensee is SpecCo, including as listed on section (ii) of Schedule
I, in each case (in respect of the foregoing (i) and (ii)), only if and to the extent such Licensee and its Affiliates have not been granted a license or other rights to use such Software under the Separation Agreement or any other
Ancillary Agreement. Notwithstanding the foregoing, Business Software expressly excludes any and all Excluded IP. 

(14)    “Confidential Information” shall have the meaning provided to it in the Umbrella Secrecy
Agreement. 
 (15)    “Contract” means any agreement, contract, subcontract, obligation, note,
indenture, instrument, option, lease, sublease, promise, arrangement, release, warranty, license, sublicense, insurance policy, purchase order or legally binding commitment or undertaking of any nature (whether written or oral and whether express or
implied). 
 (16)    “Controlled” means, with respect to any Patent,
Know-How, Copyright or Software, (a) such Intellectual Property is owned by the applicable Party or any of its Affiliates and (b) such Party or any of its Affiliates has the ability to grant a
license or other rights in, to or under such Patent, Know-How, Copyright or Software (respectively) on the terms and conditions set forth herein (other than pursuant to a license or other rights granted
pursuant to this Agreement) without violating any Contract entered into as of or prior to the Effective Date between such Party or any of its Affiliates, on the one hand, and any Third Party, on the other hand. 

(17)    “Cover” means, with respect to any Patent, in the absence of a license granted under an unexpired
claim that has not been adjudicated to be invalid or unenforceable by a final, binding decision of a court or other Governmental Entity of competent jurisdiction that is unappealable or unappealed within the time permitted for appeal of such Patent
(or if such Patent is a patent application, a claim in such patent application if such patent application were to issue as a patent), the practice of the applicable invention or technology, or performance of the applicable process, would infringe
such claim. For clarity, and by way of example, an issued Patent Covers a product if, in the absence of a license granted under such a claim of such Patent, making, using, selling, offering for sale, importing or exporting such product infringes
such claim. 

  
 4 

 (18)    “CRISPR Technology” means Intellectual
Property, Confidential Information and any other Information relating to CRISPRs (Clustered Regularly Interspaced Short Palindromic Repeats) in a nucleic acid and CRISPR-associated proteins (“Cas”) (including Cas9 and other RNA-guided nucleases and other proteins associated with or having a function related to CRISPRs), and applications involving the recognition or function of CRISPRs or Cas proteins. 

(19)    “Engineering Models and Databases” means (a) physical property databases, (b) empirical
or mathematical dynamic or steady state models of processes, equipment and/or reactions and databases containing data resulting from such models, (c) computations of equipment or unit operation operating conditions including predictive or
operational behavior and (d) databases with historical operational data. 
 (20)    “Engineering
Standards” means standards, protocols, processes and policies, including engineering guidelines, for designing, constructing, maintaining and operating facilities. 

(21)    “Excluded IP” means (i) DuPont Safety, Health and Environmental Standards (including AgCo
Licensed SHE Standards and SpecCo Licensed SHE Standards), (ii) Engineering Standards (including the AgCo Licensed Engineering Standards and SpecCo Licensed Engineering Standards), (iii) Regulatory Data, (iv) Governmental Approvals,
(v) CRISPR Technology, (vi) the TMODS Systems (as that term is defined in the TMODS License Agreement) (including object code and source code thereof), together with all process operator training simulator data files which contain process
and control information for simulating the operation of plants, and all documentation therefor (“TMODS IP”), (vii) microbial production strain microorganisms that are Covered by Patents, or incorporate or are produced using Know-How, owned by a Party and its Affiliates, (viii) Trademarks and (ix) the Intellectual Property set forth on Schedule A. 

(22)    “Governmental Approvals” means the consents, registrations, approvals, licenses, permits,
notifications or authorizations obtained or to be obtained from, any Governmental Entity. 

(23)    “Governmental Entity” means any nation or government, any state, municipality or other political
subdivision thereof and any entity, body, agency, commission, department, board, bureau or court, whether domestic, foreign, multinational or supranational exercising executive, legislative, judicial, regulatory, self-regulatory or administrative
functions of or pertaining to government and any executive official thereof. 
 (24)    “Holding Party”
has the meaning set forth in Section 2.10(a). 
 (25)    “Indemnifying Party”
has the meaning set forth in Section 6.1(a). 
 (26)    “Indemnitees” has the
meaning set forth in Section 6.1(a). 
 (27)    “Intellectual Property” means
all intellectual property and industrial property rights of any kind or nature, including all U.S. and foreign (i) patents, patent applications, and all related continuations,
continuations-in-part, divisionals, reissues, re-examinations, substitutions, priority rights and extensions thereof
(collectively “Patents”), (ii) trademarks, service marks, 

  
 5 

 
corporate names, trade names, Internet domain names, social media accounts or handles, logos, slogans, trade dress and other similar designations of source or origin, together with the goodwill
symbolized by any of the foregoing (collectively, “Trademarks”), (iii) copyrights and copyrightable subject matter (collectively, “Copyrights”), (iv) rights of privacy and publicity, (v) moral rights and rights
of attribution and integrity, (vi) trade secrets and rights in all other confidential and proprietary information, including know-how, inventions (including, for the avoidance of doubt, notices of
invention and invention disclosures for which a Patent has not been filed as of the Effective Date (e.g., NOIs and ICDs, as such terms are understood and used by the Parties as of the Effective Date)), algorithms, logic, standard operating
conditions and procedures, proprietary processes, formulae, data, databases and other compilations of data, drawings, models and methodologies, including confidential information set forth in laboratory notebooks, laboratory reports, Plant Operating
Documents, and Engineering Models and Databases (except to the extent such information is Covered by any Patents), in each case of the foregoing, to the extent confidential and proprietary (collectively
“Know-How”), (vii) all applications and registrations for the foregoing and (viii) all rights and remedies against past, present, and future infringement, misappropriation, or other
violation of the foregoing, in each case (with respect to the foregoing clauses (i) through (viii)), excluding all IT Assets (except Software). 

(28)    “Know-How Materials” means those written, electronic,
computerized, digital or other similar tangible or intangible media to the extent containing or embodying any SpecCo Licensed Know-How, AgCo Licensed Know-How, SpecCo
Licensed Copyrights, AgCo Licensed Copyrights, Licensed Standards or Business Software. 
 (29)    “Licensed
Copyrights” means (i) with respect to the licenses granted to SpecCo hereunder, the AgCo Licensed Copyrights and the Copyrights licensed under Section 2.3(a) hereof, and (ii) with respect to the licenses
granted to AgCo hereunder, the SpecCo Licensed Copyrights and the Copyrights licensed under Section 2.3(b) hereof. 

(30)    “Licensed Facility” means any facility owned by or operated on behalf of an Authorized User. 

(31)    “Licensed IP” means (i) with respect to the licenses granted to SpecCo or the SpecCo
Licensees, as applicable, hereunder, the AgCo Licensed IP, the AgCo Licensed Standards, and the Business Software Controlled by AgCo or any of its Affiliates, and (ii) with respect to the licenses granted to AgCo or the AgCo Licensees, as
applicable, hereunder, the SpecCo Licensed IP, the SpecCo Licensed Standards, and the Business Software Controlled by SpecCo or any of its Affiliates. 

(32)    “Licensed Know-How” means (i) with respect to the
licenses granted to SpecCo or the SpecCo Licensees, as applicable, hereunder, the AgCo Licensed Know-How and the Know-How licensed under
Section 2.3(a) hereof, and (ii) with respect to the licenses granted to AgCo or the AgCo Licensees, as applicable, hereunder, the SpecCo Licensed Know-How and the Know-How licensed under Section 2.3(b) hereof. 

(33)    “Licensed Patents” means (i) with respect to the licenses granted to SpecCo or the SpecCo
Licensees, as applicable, hereunder, the AgCo Licensed Patents, and (ii) with respect to the licenses granted to AgCo or the AgCo Licensees, as applicable hereunder, the SpecCo Licensed Patents. 

  
 6 

 (34)    “Licensed Standards” means (i) with
respect to the licenses granted to SpecCo or the SpecCo Licensees, as applicable, hereunder, the AgCo Licensed Standards and (ii) with respect to the licenses granted to AgCo or the AgCo Licensees, as applicable hereunder, the SpecCo Licensed
Standards. 
 (35)    “Licensee” means (i) the relevant AgCo Licensee with respect to the SpecCo
Licensed IP and the SpecCo Licensed Standards, and AgCo and its applicable Affiliates with respect to the Business Software Controlled by SpecCo or any of its Affiliates hereunder, and (ii) the relevant SpecCo Licensees with respect to the AgCo
Licensed IP and the AgCo Licensed Standards, and SpecCo and its applicable Affiliates with respect to the Business Software Controlled by AgCo or any of its Affiliates hereunder. 

(36)    “Licensor” means (i) the AgCo Licensors with respect to the AgCo Licensed IP and the AgCo
Licensed Standards, and AgCo with respect to the Business Software Controlled by AgCo or any of its Affiliates, and (ii) the SpecCo Licensors with respect to the SpecCo Licensed IP and the SpecCo Licensed Standards, and SpecCo with respect to
the Business Software Controlled by SpecCo or any of its Affiliates. 
 (37)    “Merger Time” means the
effective time of the mergers of E. I. du Pont de Nemours and Company and the Dow Chemical Company with wholly owned subsidiaries of DowDuPont, Inc. 

(38)    “Notifying Party” has the meaning set forth in Section 2.5(a). 

(39)    “Personnel” means, with respect to a Party or its Affiliates, such Party’s or
Affiliate’s employees, officers, agents, consultants, and contractors, and any other Person over whom such Party or Affiliate exercises control. 

(40)    “Receiving Party” has the meaning set forth in Section 2.5(a). 

(41)    “Regulatory Data” means any and all regulatory data (including studies, data, raw data, efficacy
data, reports, physical samples, reviews (including business risk reviews), opinions, self-GRAS determinations, information or other compliance requirements, including safety, risk and exposure assessments and modeling for product contamination or
impurity issues), in written, electronic, computerized, digital, or other tangible or intangible media, actually submitted to, or maintained to support a submission to (whether submitted or not), a Governmental Entity or a Third Party to seek,
obtain or maintain a Governmental Approval or demonstrate regulatory compliance. 
 (42)    “Requesting
Party” has the meaning set forth in Section 2.10(a). 
 (43)    “Seeds and
Beads IP” means all Intellectual Property expressly identified on Schedules C and D as relating to “seeds and beads”. 

  
 7 

 (44)    “Software” means all computer programs (whether
in source code, object code, or other form), software implementations of algorithms, and related documentation, including flowcharts and other logic and design diagrams, technical, functional and other specifications, and user and training materials
related to any of the foregoing. 
 (45)    “SpecCo Field” means the field of the Specialty Products
Business and natural evolutions thereof. 
 (46)    “SpecCo Licensed Copyrights” means any and all
Copyrights to the extent Controlled by SpecCo or any of its Affiliates, and Used in the Agriculture Business, as of the Effective Date, including the Copyrights set forth on Schedule F. Notwithstanding the foregoing, SpecCo Licensed
Copyrights expressly exclude any and all (i) Know-How, (ii) IT Assets and (iii) Excluded IP. 

(47)    “SpecCo Licensed Engineering Standards” means Engineering Standards (including as set forth on
Schedule E(iii)), each, to the extent both (i) owned by SpecCo or any of its Affiliates, or with respect to which SpecCo or any of its Affiliates has the right to grant the license or other rights granted to AgCo hereunder without
payment obligations to any Third Party, as of the Effective Date and (ii) that is actually used by AgCo or its Affiliates in the conduct of the Agriculture Business as of the Effective Date. Notwithstanding the foregoing, the SpecCo Licensed
Engineering Standards shall expressly exclude (i) Regulatory Data, (ii) Governmental Approvals, (iii) CRISPR Technology, (iv) TMODS IP, (v) Trademarks, and (vi) the Intellectual Property set forth on Schedule A.

 (48)    “SpecCo Licensed IP” means the SpecCo Licensed Patents, SpecCo Licensed Know-How and SpecCo Licensed Copyrights. 
 (49)    “SpecCo Licensed Know-How” means any and all Know-How to the extent Controlled by SpecCo or any of its Affiliates, and Used in the Agriculture Business, as of the Effective Date,
including the Know-How set forth on Schedule G. Notwithstanding the foregoing, SpecCo Licensed Know-How expressly excludes any and all (i) IT Assets and
(ii) Excluded IP. 
 (50)    “SpecCo Licensed Patents” means any and all (i) Patents set
forth on Schedule H to the extent Controlled by SpecCo or any of its Affiliates as of the Effective Date, (ii) Patents to the extent such Patents Cover any SpecCo Licensed Know-How and are
Controlled by SpecCo or any of its Affiliates following the Effective Date and (iii) to the extent Controlled by SpecCo or any of its Affiliates as of or following the Effective Date, continuations, divisionals, renewals, continuations-in-part, patents of addition, restorations, extensions, supplementary protection certificates, reissues and
re-examinations of, and all other Patents that claim priority to, any Patents described in either of the foregoing subsections (i) or (ii), and foreign equivalents thereof, in each case to the extent the
claims are supported by any Patents described in either of the foregoing subsections (i) or (ii) (but in all cases expressly excluding any and all Excluded IP). 

  
 8 

 (51)    “SpecCo Licensed SHE Standards” means the
DuPont Safety, Health, and Environmental Standards (including as set forth on Schedule E(iv)), each, to the extent both (i) owned by SpecCo or any of its Affiliates, or with respect to which SpecCo or any of its Affiliates has the right
to grant the license or other rights granted to AgCo hereunder without payment obligations to any Third Party, as of the Effective Date and (ii) that is actually used by AgCo or its Affiliates in the conduct of the Agriculture Business as of
the Effective Date. Notwithstanding the foregoing, the SpecCo Licensed SHE Standards shall expressly exclude (i) Regulatory Data, (ii) Governmental Approvals, (iii) CRISPR Technology, (iv) TMODS IP, (v) Trademarks, and
(vi) the Intellectual Property set forth on Schedule A. 
 (52)    “SpecCo Licensed
Standards” means the SpecCo Licensed SHE Standards and the SpecCo Licensed Engineering Standards. 

(53)    “SpecCo Licensees” means (a) PM Taiwan, Inc., with respect to the licenses granted hereunder
by Pioneer Hi-Bred International, Inc., and (b) DuPont US Holding, LLC, DuPont Industrial Biosciences USA, LLC, Specialty Products N&H, Inc., DuPont Electronics, Inc., DuPont Safety &
Construction, Inc., and DuPont Polymers, Inc., with respect to licenses granted hereunder by E.I. du Pont de Nemours and Company. 

(54)    “SpecCo Licensors” means PM Taiwan, Inc., DuPont US Holding, LLC, DuPont Industrial Biosciences
USA, LLC, Specialty Products N&H, Inc., DuPont Electronics, Inc., DuPont Safety & Construction, Inc., and DuPont Polymers, Inc. 

(55)    “Sublicensee” has the meaning set forth in Section 2.6(a). 

(56)    “Term” has the meaning set forth in Section 8.1. 

(57)    “Third Party” means any Person other than AgCo, SpecCo, and their respective Affiliates. 

(58)    “Third Party Infringement” means (a) any Third Party activities that constitute, or would
reasonably be expected to constitute, an infringement, misappropriation or other violation within the field for which Licensee has been granted a license hereunder of any Licensed IP or (b) any Third Party allegations of invalidity or
unenforceability of any Licensed IP. 
 (59)    “Third Party Payments” means any and all obligations on
the part of Licensor or its Affiliates to pay royalties, sublicense fees, milestones or other amounts to Third Parties pursuant to Contracts existing as of the Effective Date (or, in the case of Wrong Pockets Patents, Contracts existing as of the
date of the Wrong Pockets Notice) to which Licensor or any of its Affiliates is a party or is otherwise bound, in each case to the extent that such obligation to pay arises from, or is a result of the grant to or exercise by Licensee or any
Sublicensees of, any license, sublicense or other right to practice granted hereunder. 
 (60)    “TMODS License
Agreement” means that certain DuPont TMODS Dynamic Process Simulation Software Agreement entered into by and between AgCo and SpecCo, dated as of the Effective Date. 

(61)    “Umbrella Secrecy Agreement” means the Umbrella Secrecy Agreement, dated as of the Effective
Date, between SpecCo, AgCo and the other signatories thereto. 

  
 9 

 (62)    “Used” means, with respect to the applicable
Patent, Copyright or Know-How, that, as of the Effective Date, (i) such Intellectual Property is actually used, or (ii) (1) there is a bona fide plan and intention to use such Intellectual Property
with a product that is expected to be commercially launched within eight and one half (8.5) years of the Effective Date or that is set forth on Schedule J, and (2) senior management has agreed to or approved, in writing, a capital
investment or commitment to allocate resources or man-hours to implement such plan and intention, in each case in respect of the foregoing subsections (i) and (ii), as established by contemporaneous
written records created in the ordinary course of business (which records shall be in a form consistent with the form that actual use, or similar plans and approvals, as applicable, were documented by the applicable Party (or its predecessors in
interest) prior to the Merger Time). 
 (63)    “Wrong Pockets Notice” shall have the meaning set forth
in Section 2.5(a). 
 (64)    “Wrong Pockets Patent” shall have the meaning
set forth in Section 2.5(c). 
 Section 1.2    References; Interpretation. For
the purposes of this Agreement, (a) words in the singular shall be held to include the plural and vice versa, and words of one gender shall be held to include the other gender as the context requires; (b) references to the terms Article,
Section, paragraph, clause, Exhibit and Schedule are references to the Articles, Sections, paragraphs, clauses, Exhibits and Schedules to this Agreement unless otherwise specified; (c) the terms “hereof,” “herein,”
“hereby,” “hereto,” and derivative or similar words refer to this entire Agreement, including the Schedules and Exhibits hereto; (d) references to “$” shall mean U.S. dollars; (e) the word
“including” and words of similar import when used in this Agreement shall mean “including without limitation,” unless otherwise specified; (f) the word “or” shall not be exclusive; (g) references to
“written” or “in writing” include in electronic form; (h) the headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement; (i) the
Parties have each participated in the negotiation and drafting of this Agreement and, except as otherwise stated herein, if an ambiguity or question of interpretation should arise, this Agreement shall be construed as if drafted jointly by the
Parties and no presumption or burden of proof shall arise favoring or burdening any Party by virtue of the authorship of any of the provisions in this Agreement; (j) a reference to any Person includes such Person’s successors and permitted
assigns; (k) any reference to “days” means calendar days unless Business Days are expressly specified; (l) when calculating the period of time before which, within which or following which any act is to be done or step taken
pursuant to this Agreement, the date that is the reference date in calculating such period shall be excluded and if the last day of such period is not a Business Day, the period shall end on the next succeeding Business Day; (m) any statute
defined or referred to herein means such statute as from time to time amended, modified or supplemented, unless otherwise specifically indicated; (n) the use of the phrases “the date of this Agreement”, “the date hereof”,
“of even date herewith” and terms of similar import shall be deemed to refer to the date set forth in the preamble to this Agreement; (o) the phrase “ordinary course of business” shall be deemed to be followed by the words
“consistent with past practice” whether or not such words actually follow such phrase; (p) where a word or phrase is defined herein, each of its other grammatical forms shall have a corresponding meaning; and (q) any consent
given by any Party pursuant to this Agreement shall be valid only if contained in a written instrument signed by such Party. Unless the context requires otherwise, references in this Agreement to “SpecCo” shall also be

  
 10 

 
deemed to refer to the applicable member of the SpecCo Group, references to “AgCo” shall also be deemed to refer to the applicable member of the AgCo Group and, in connection therewith,
any references to actions or omissions to be taken, or refrained from being taken, as the case may be, by SpecCo or AgCo shall be deemed to require SpecCo or AgCo, as the case may be, to cause the applicable members of the SpecCo Group or the AgCo
Group, respectively, to take, or refrain from taking, any such action. 
 ARTICLE II 

GRANTS OF RIGHTS 

Section 2.1    Licenses to SpecCo of AgCo Licensed IP. 

(a)    Non-Exclusive License to
Know-How and Copyrights. Subject to the terms and conditions of this Agreement, the AgCo Licensors hereby grant, and AgCo shall cause its Affiliates to grant, to the relevant SpecCo Licensees an
irrevocable, royalty-free, fully paid-up, sublicensable (to the extent permitted in Section 2.6), transferable (subject to Section 10.2), worldwide, non-exclusive license in, to and under the AgCo Licensed Know-How and the AgCo Licensed Copyrights for any and all uses in the SpecCo Field. For clarity, subject to the terms
and conditions of this Agreement, the license in, to and under the applicable AgCo Licensed IP set forth in this Section 2.1(a) shall include the right to practice the same to make (including have made), use, sell, offer
for sale, import, and export any and all products within the SpecCo Field, and use, practice, copy, perform, render, develop, improve, display, redistribute, modify, and make derivative works of such AgCo Licensed IP, within the SpecCo Field. 

(b)    Non-Exclusive License to Patents. Subject to the terms and
conditions of this Agreement, the AgCo Licensors hereby grant to the relevant SpecCo Licensees, an irrevocable, royalty-free, fully paid-up, sublicensable (to the extent permitted in
Section 2.6), transferable (subject to Section 10.2), worldwide, non-exclusive license in, to and under the AgCo Licensed Patents for any and all uses in the
SpecCo Field. For clarity, subject to the terms and conditions of this Agreement, the license in, to and under the AgCo Licensed Patents set forth in this Section 2.1(b) shall include the right to practice the same to make
(including have made), use, sell, offer for sale, import, and export any and all products within the SpecCo Field. 

Section 2.2    Licenses to AgCo of SpecCo Licensed IP.  
 (a)    Non-Exclusive
License to Know-How and Copyrights. Subject to the terms and conditions of this Agreement, the SpecCo Licensors hereby grant, and SpecCo shall cause its Affiliates to grant, to the relevant AgCo Licensees
an irrevocable, royalty-free, fully paid-up, sublicensable (to the extent permitted in Section 2.6), transferable (subject to Section 10.2), worldwide, non-exclusive license in, to and under the SpecCo Licensed Know-How and SpecCo Licensed Copyrights for any and all uses in the AgCo Field. For clarity, subject to the terms
and conditions of this Agreement, the license in, to and under the applicable SpecCo Licensed IP set forth in this Section 2.2(a) shall include the right to practice the same to make (including have made), use, sell, offer
for sale, import, and export any and all products within the AgCo Field, and use, practice, copy, perform, render, develop, improve, display, redistribute, modify, and make derivative works of such SpecCo Licensed IP, within the AgCo Field. 

  
 11 

 (b)    Non-Exclusive License
to Patents. Subject to the terms and conditions of this Agreement, the SpecCo Licensors hereby grant to the relevant AgCo Licensees, an irrevocable, royalty-free, fully paid-up, sublicensable (to the
extent permitted in Section 2.6), transferable (subject to Section 10.2), worldwide, non-exclusive license in, to and under the SpecCo Licensed Patents for
any and all uses in the AgCo Field. For clarity, subject to the terms and conditions of this Agreement, the license in, to and under the SpecCo Licensed Patents set forth in this Section 2.2(b) shall include the right to
practice the same to make (including have made), use, sell, offer for sale, import, and export any and all products within the AgCo Field. 

Section 2.3    Licenses to Standards. 

(a)    Subject to the terms and conditions of this Agreement, the applicable AgCo Licensors hereby grant, and AgCo shall
cause its Affiliates to grant, to the relevant SpecCo Licensees, an irrevocable, royalty-free, fully paid-up, sublicensable (to the extent permitted in Section 2.6), transferable
(subject to Section 10.2), non-exclusive license to use the AgCo Licensed Standards at the SpecCo Licensed Facilities solely in connection with the conduct of the Specialty Products
Business by SpecCo or any of its Affiliates. Without limiting the foregoing, the grant in this Section 2.3 includes a right and license to use, reproduce, distribute, display, perform, adapt, modify and create derivative
works of the AgCo Licensed Standards by and among the Authorized Users only for the licensed uses set forth in this Section 2.3. 

(b)    Subject to the terms and conditions of this Agreement, the applicable SpecCo Licensors hereby grant, and SpecCo
shall cause its Affiliates to grant, to the relevant AgCo Licensees, an irrevocable, royalty-free, fully paid-up, sublicensable (to the extent permitted in Section 2.6), transferable
(subject to Section 10.2), non-exclusive license to use the SpecCo Licensed Standards at the AgCo Licensed Facilities solely in connection with the conduct of the Agriculture Business
by AgCo or any of its Affiliates. Without limiting the foregoing, the grant in this Section 2.3 includes a right and license to use, reproduce, distribute, display, perform, adapt, modify and create derivative works of the
SpecCo Licensed Standards by and among the Authorized Users only for the licensed uses set forth in this Section 2.3. 

(c)    Notwithstanding anything to the contrary herein, neither Licensor nor any of its Affiliates shall have any
obligation with respect to training Licensee or any of its Affiliates to implement or use the Licensed Standards. For clarity, the Licensed Standards shall not be subject to any updates by Licensor or its Affiliates (even if Licensor or its
Affiliates update the same for their own use). The Parties acknowledge that from time to time applicable Law may conflict with and supersede aspects of Licensed Standards and Licensor shall have no obligation to Licensee with respect thereto in such
event. For clarity, as between the Parties, SpecCo shall own all Intellectual Property (including, for clarity, Copyrights) in any DuPont Safety, Health and Environmental Standards or Engineering Standards that constitute Intellectual Property
included in the Specialty Products Assets, and AgCo shall own all Intellectual Property (including, for clarity, Copyrights) in any DuPont Safety, Health and Environmental Standards or Engineering Standards that constitute Intellectual Property
included in the Agriculture Assets. 

  
 12 

 Section 2.4    Business Software License. Subject to the
terms and conditions of this Agreement, Licensor (or its Affiliate, as applicable) hereby grants, and shall cause its Affiliates to grant, to Licensee (or its Affiliate, as applicable) an irrevocable, royalty-free, fully paid-up, sublicensable (to the extent permitted in Section 2.6), transferable (subject to Section 10.2), worldwide,
non-exclusive license to its Business Software for use solely in connection with, if such Licensee is AgCo, the Agriculture Business or, if such Licensee is SpecCo, the Specialty Products Business, including
in each case, for clarity, natural evolutions of such Business. 
 Section 2.5    Wrong Pockets. 

(a)    A Party (a “Notifying Party”) shall have the right to provide prompt written notice (a
“Wrong Pockets Notice”) to the other Party (a “Receiving Party”), including in response to an inquiry from the Receiving Party, if, following the Effective Date: 

(i)    a Notifying Party identifies a Patent Controlled by the other Party as of the Effective Date that
is not included in the Licensed Patents licensed to such Notifying Party, and such Notifying Party reasonably believes that such Patent was Used in the Agriculture Business or the Specialty Products Business, as applicable, as of the Effective Date;
or 
 (ii)    a Notifying Party identifies a Use by such Notifying Party of a Licensed Patent
(including, for clarity, any Wrong Pockets Patent) that is not within such Notifying Party’s licensed field of use hereunder for such Licensed Patent, and such Notifying Party reasonably believes that the Use of such Licensed Patent as of the
Effective Date was within the Agriculture Business (if AgCo is the Notifying Party) or the Specialty Products Business (if SpecCo is the Notifying Party). 

(b)    Each Wrong Pockets Notice shall both identify the applicable Patent and describe the Use thereof in the
Agriculture Business (if the Notifying Party is AgCo), or the Specialty Products Business (if the Notifying Party is SpecCo), as of the Effective Date. 

(c)    Unless otherwise agreed in writing by the Parties, if a Notifying Party provides a Wrong Pockets Notice in
accordance with Section 2.5(a), the Notifying Party shall, within sixty (60) days of providing the Wrong Pockets Notice, demonstrate to the Receiving Party by clear and convincing evidence (the “Evidentiary
Requirement”) that the identified Patent was Used in the manner identified in the Wrong Pockets Notice within the Agriculture Business (if the Notifying Party is AgCo) or the Specialty Products Business (if the Notifying Party is SpecCo) as
of the Effective Date (such evidence, the “Demonstration of Use”). The Receiving Party shall notify the Notifying Party in writing within thirty (30) days of receipt of the Demonstration of Use whether it reasonably believes in
good faith that the Demonstration of Use satisfies the Evidentiary Requirement. Solely to the extent (with respect to the Patent and Use identified in the applicable Wrong Pockets Notice) that the Demonstration of Use satisfies the Evidentiary
Requirements (whether determined by the Receiving Party in 

  
 13 

 
accordance with the foregoing, or in accordance with Section 9.1), or if the Receiving Party fails to provide the Notifying Party with a response regarding whether the
Demonstration of Use satisfies the Evidentiary Requirements within the applicable thirty (30) day period in accordance with the foregoing, such Patent shall be licensed to the Notifying Party for such Use (in the case of a Wrong Pockets Notice
described in Section 2.5(a)(i)) (each such Patent, a “Wrong Pockets Patent”), or such Use shall be included in the Notifying Party’s field of use for such Patent (in the case of a Wrong Pockets Notice
described in Section 2.5(a)(ii)), as applicable, in each case, as further described in the following subsections (i) and (ii). 

(i)    Subject to the foregoing in this Section 2.5(c), unless otherwise agreed
in writing by the Parties, with respect to a Wrong Pockets Notice described in Section 2.5(a)(i), each Patent identified in such notice (if the Demonstration of Use therefor satisfies the Evidentiary Requirement or the
Receiving Party fails to provide the Notifying Party with a response in accordance with this Section 2.5(c)) shall be a SpecCo Licensed Patent if AgCo is the Notifying Party or an AgCo Licensed Patent if SpecCo is the
Notifying Party, and for clarity, the license to the Notifying Party therefor shall be non-exclusive and the field for which it is licensed pursuant to this Agreement (which, notwithstanding anything to the
contrary herein, shall be deemed to be the AgCo Field for such Patent if AgCo is the Notifying Party and the SpecCo Field for such Patent if SpecCo is the Notifying Party) shall be limited solely to the Use made by such Notifying Party and its
Affiliates as of the Effective Date (to the extent that the Demonstration of Use therefor satisfies the Evidentiary Requirement) and natural evolutions thereof, subject to the terms and conditions of any licenses and other rights granted by or on
behalf of Licensor or any of its Affiliates to any Third Parties with respect to such Patent prior to the date of the Wrong Pockets Notice. 

(ii)    Subject to the foregoing in this Section 2.5(c), unless otherwise agreed
in writing by the Parties, with respect to a Wrong Pockets Notice described in Section 2.5(a)(ii), each Use for a Licensed Patent identified in the Wrong Pockets Notice (to the extent that Demonstration of Use therefor
satisfies the Evidentiary Requirement or the Receiving Party fails to provide the Notifying Party with a response in accordance with this Section 2.5(c)) and natural evolutions thereof shall be deemed to be in the AgCo
Field for such Licensed Patent if AgCo is the Notifying Party and in the SpecCo Field for such Licensed Patent if SpecCo is the Notifying Party and the license granted to such field shall be nonexclusive; provided that the rights with
respect to such Use retained by the Notifying Party shall be subject to the terms and conditions of any licenses and other rights granted by or on behalf of the Receiving Party or any of its Affiliates to any Third Parties with respect to such
Patent prior to the date of the Wrong Pockets Notice. 
 (d)    Notwithstanding anything to the contrary herein, unless
otherwise agreed upon by the Parties, each Party shall only have two (2) years after the Effective Date to provide a Wrong Pockets Notice pursuant to Section 2.5(a) to the other Party; provided that, in
the case of Section 2.5(a)(i), with respect to Patent applications filed prior to the Effective Date, 

  
 14 

 
such period shall extend until the date that is six (6) months after the publication of such Patent application if the expiration of such six (6) month period occurs after such two
(2) year period expires. 
 (e)    Notwithstanding the foregoing Sections 2.5(a) through (d), unless
and only to the extent that the Receiving Party provides its prior written consent (which the Receiving Party may withhold in its sole discretion), in the event that the Parties expressly discussed prior to the Effective Date that: 

(i)    any Patent would not be included in the Notifying Party’s Licensed Patents in the case of a
Wrong Pockets Notice described in Section 2.5(a)(i), such Patent shall not be included in the Notifying Party’s Licensed Patents (provided that, in determining that such Patent would not be a Licensed
Patent hereunder, the Parties discussed prior to the Effective Date the Use identified in the Wrong Pockets Notice for such Patent); or 

(ii)    any Use would not be included in the Notifying Party’s field of use for a specific Licensed
Patent in the case of a Wrong Pockets Notice described in Section 2.5(a)(ii) (as applicable), such Use shall not be included in the Notifying Party’s licensed field of use for such Patent. 

(f)     Notwithstanding the foregoing Sections 2.5(a) through 2.5(e), those patents set forth on
Schedule K are specifically excluded from and are not subject to a Wrong Pockets Notice. 

Section 2.6    Sublicenses. 

(a)    Licensee may sublicense the license and rights granted to Licensee under Sections 2.1 through 2.4 (as
applicable) to (i) its Affiliates, (ii) in the case of all Licensed IP other than the Seeds and Beads IP, Third Parties in connection with the operation of the business of Licensee or its Affiliates, but not for the independent use of any
such Third Party, including distributors that need to practice the applicable Intellectual Property to provide ordinary course distribution services to Licensee and its Affiliates; provided that, with respect to the Licensed Standards,
sublicensing to such Third Parties shall be solely for such Third Parties to provide services to the Specialty Products Business or Agriculture Business (as applicable) in the ordinary course at any or all Licensed Facilities (but not for the
independent use of such Third Party), (iii) in the case of the Seeds and Beads IP, to Third Parties (1) who are bona fide collaborators or partners of Licensee or any of its Affiliates, or (2) in connection with which sublicense Licensee
or any of its Affiliates is also granting a license or other rights to any other Intellectual Property for seed coating and seed treatment technology owned by or licensed to Licensee or any of its Affiliates, in each case (1) and (2), for use
in connection with the practice of seed coating and seed treatment technology, and (iv) with the prior written consent of Licensor, other Third Parties (each such Affiliate or Third Party, a “Sublicensee”). 

(b)    Each sublicense granted by a Licensee under the license granted to such Licensee in Sections 2.1 through
2.4 shall be granted pursuant to an agreement that (i) is subject to, and consistent with, the terms and conditions of this Agreement and includes 

  
 15 

 
provisions at least as protective of Licensor and its Affiliates as the provisions of this Agreement (except that such sublicense shall not be required to provide rights for Licensor to audit
Sublicensee in accordance with, and subject to, Section 2.11 (1) if the sublicense is granted to an Affiliate or (2) with respect to sublicenses of Licensed Know-How, Licensed
Copyrights or Business Software where the primary purpose of such arrangement with sublicensee is not to grant access to such Licensed Know-How, Licensed Copyrights or Business Software), (ii) to the extent
with respect to Licensed Patents or AgCo Licensed Standards and if Sublicensee is a Third Party, provides that Licensor shall be an intended beneficiary thereunder with the right of direct enforcement against the Sublicensee (including, for clarity,
with respect to the audit rights set forth in Section 2.11 to the extent applicable), and (iii) to the extent with respect to Licensed Patents or AgCo Licensed Standards, is in writing if the Sublicensee is a Third
Party. For clarity, granting a sublicense shall not relieve Licensee of any obligations hereunder and Licensee shall cause each of its Sublicensees to comply, and shall remain responsible for its Sublicensees’ compliance, with the terms hereof
applicable to Licensee. 
 Section 2.7    Third Party Rights. 

(a)    Notwithstanding anything to the contrary herein, the terms and conditions of this Agreement (including the licenses
granted under Sections 2.1 through 2.4) are subject to any and all rights of and obligations owed to any Third Parties with respect to the Licensed IP under any Contracts existing as of the Effective Date (or in the case of any Wrong
Pockets Patents, existing as of or prior to the date of the Wrong Pockets Notice) to which Licensor or any of its Affiliates is a party or is otherwise bound, and to the extent that, as a result of such rights or obligations, any license or other
rights granted hereunder: (i) may not be granted without the consent of or payment of a fee or other consideration; or (ii) will cause Licensor or any of its Affiliates to be in breach of any of its or their obligations to any Third Party,
the applicable licenses and other rights granted hereunder shall only be granted to the extent such consent has been obtained or such fee or other consideration has been paid. The Parties shall use commercially reasonable efforts to obtain any such
consents to the extent required to grant Licensee the rights granted hereunder; provided that, (i) the foregoing shall not require the Parties to duplicate any obligations undertaken under the Separation Agreement and
(ii) notwithstanding anything herein to the contrary, Licensor shall have no obligation to agree to or make any payments or other concessions, except as mutually agreed in writing between the Parties, or participate in any act or omission that
will cause Licensor to be in breach of its or their obligations to any Third Party. Notwithstanding the foregoing, Licensee shall not be deemed in breach of this Section 2.7(a) only if, and for such time, Licensee is not
aware of such rights of or obligations owed to such Third Party. 
 (b)    Notwithstanding anything to the contrary
herein, Third Party Payments, if any, with respect to the Licensed IP shall be Licensee’s sole responsibility. Licensee shall pay the Third Party Payments directly to the applicable Third Party; provided that if such
Third Party does not permit Licensee to pay such Third Party Payments to such Third Party directly (whether pursuant to the applicable Contract or otherwise) after the Parties have used commercially reasonable efforts to permit the Licensee to pay
the Third Party directly, the Parties shall cooperate in good faith to ensure that such Third Party Payments are paid by Licensee to Licensor in a manner that ensures Licensor’s payment thereof is in compliance with the obligations to the
applicable Third Party. Such cooperation shall include Licensee (i) 

  
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preparing and providing Licensor with reasonably detailed written reports reflecting calculation of the applicable Third Party Payments and any other information required by the applicable Third
Parties and (ii) paying Licensor the applicable Third Party Payments by wire transfer of immediately available funds to the bank account designated by Licensor in writing no less than ten (10) days prior to the due date of such payment
pursuant to the terms of the applicable Contract. If either Party becomes aware of any Third Party Payments, it shall reasonably promptly notify the other Party in writing, and notwithstanding anything to the contrary in this
Section 2.7(b), Licensee shall not be deemed in breach of this Section 2.7(b) if, and for such time, Licensee is not aware of the applicable Third Party Payments; provided that, upon
learning of such Third Party Payments, Licensee shall promptly pay such Third Party Payments to the applicable Third Party directly (or such other Person as reasonably directed by Licensor) to the extent such Third Party Payments are past due. 

(c)    Certain agreements subject to Subsections (a) and (b) hereof are set forth on Schedule L hereto. 

Section 2.8    No Use Outside Field. Each Party shall not, and shall cause its Affiliates to not, as
Licensee, exercise rights under any Licensed IP except to the extent expressly licensed hereunder or expressly agreed upon in advance in writing by Licensor. 

Section 2.9    Reservation of Rights. Each Party reserves its and its Affiliates’ rights in and to all
Intellectual Property that is not expressly licensed or otherwise granted hereunder. Without limiting the foregoing, this Agreement and the licenses and rights granted herein do not, and shall not be construed to, confer any rights upon either
Party, its Affiliates, or its Sublicensees by implication, estoppel, or otherwise as to any of the other Party’s Intellectual Property (including, for clarity, any Excluded IP, except to the extent expressly licensed under
Section 2.3). 
 Section 2.10    Retention and Transfer of Licensed Know-How. 
 (a)    If AgCo or SpecCo (the “Requesting Party”)
reasonably believes that any Know-How Materials are in possession or control of the other Party (such Party, the “Holding Party”) or any of its Affiliates and such Know-How Materials are not in the possession or control of the Requesting Party or any of its Affiliates, and the Requesting Party makes a request in writing during the two (2) year period following the
Effective Date that the Holding Party deliver the Know-How Materials to the Requesting Party, the Holding Party shall review such request and, to the extent in the possession or control of the Holding Party or
any of its Affiliates and, for purposes of Business Software only, is reasonably accessible to the Holding Party for purposes of transfer to the Requesting Party (provided that, subject to the below provisos, such accessibility shall
not take into account whether such Business Software is integrated with other Software), deliver the Know-How Materials to the Requesting Party as promptly as reasonably practicable and in any event within
thirty (30) Business Days of receiving such request from the Requesting Party; provided that, the Holding Party shall notify the Requesting Party within such thirty (30) Business Day period if it reasonably believes that such
request requires a longer period of review to determine if the request concerns SpecCo Licensed Know-How, AgCo Licensed Know-How, SpecCo Licensed Copyrights, AgCo
Licensed Copyrights, AgCo Licensed Standards or Business Software (as applicable) or to locate 

  
 17 

 
the applicable Know-How Materials, and the Holding Party shall take all reasonable steps to review and provide such
Know-How Materials (as applicable) within an additional sixty (60) days of expiration of such initial thirty (30) Business Day period; provided, further, with respect to any Business
Software requested by a Requesting Party hereunder that is integrated with other Software, the Parties shall discuss in good faith a reasonable deadline in lieu of the foregoing timing for delivering any such Business Software to the Requesting
Party, and the Requesting Party agrees that it shall bear all reasonable out-of-pocket costs and expenses of preparing such Software for delivery subject to the
Requesting Party’s advance approval of such costs; provided, further, to the extent the request does not constitute SpecCo Licensed Know-How, SpecCo Licensed Copyrights or Business Software
(if the Requesting Party is AgCo) or AgCo Licensed Know-How, AgCo Licensed Copyrights, AgCo Licensed Standards, or Business Software (if the Requesting Party is SpecCo), the Holding Party shall not be required
to deliver such Know-How Materials to the Requesting Party, but shall provide the Requesting Party with an explanation in reasonable detail of the basis of such determination and shall make itself and its
relevant Affiliates available to discuss in good faith with the Requesting Party. 
 (b)    For clarity, and
notwithstanding anything to the contrary, in no event shall Licensor or its Affiliates be required hereunder to provide any written, electronic, computerized, digital or other tangible or intangible media to the extent comprising, containing,
reflecting or embodying any SpecCo Licensed Know-How, AgCo Licensed Know-How, SpecCo Licensed Copyrights, AgCo Licensed Copyrights, AgCo Licensed Standards, or Business
Software to Licensee, that has already been provided to, or is in the possession of, Licensee or its Affiliates. For the avoidance of doubt, nothing in this Agreement shall be interpreted as requiring that Licensor or any of its Affiliates transfer
or grant access to tangible biological material to Licensee or any of its Affiliates. 

Section 2.11    Audit. Not more than once per year, or at any time a Party has a reasonable, good faith
belief that the other Party has materially breached this Agreement, or (to the extent with respect to this Agreement) the Umbrella Secrecy Agreement, and provides written notice to such other Party as well as detailed documentation or other evidence
of such alleged breach, upon thirty (30) days’ advance written notice, such first Party may cause an independent Third Party auditor that is reasonably acceptable to the audited Party and subject to written confidentiality obligations that
are reasonably acceptable to the audited Party to audit, during regular business hours and in a manner that complies with the reasonable building and security requirements of the audited Party and its Affiliates, the books, records and facilities of
such audited Party and its Affiliates to the extent reasonably necessary to determine such audited Party’s and its Affiliates’ compliance with this Agreement or (to the extent with respect to this Agreement) the Umbrella Secrecy Agreement.
Any audit conducted under this Section 2.11 shall not interfere unreasonably with the operations of such audited Party or any of its Affiliates. The Party requesting the audit shall pay the costs of conducting such audit;
provided that if such audit reveals a material breach of this Agreement or (to the extent with respect to this Agreement), the Umbrella Secrecy Agreement, the audited Party shall pay all such costs. Upon conclusion of the audit, the
Third Party auditor shall furnish to both Parties a report stating only its findings during such audit as to whether or not the audited Party is in compliance with this Agreement, and if such audit has revealed a breach, shall include no more
information than is reasonably necessary to provide the basis for such finding. All information learned or obtained from such audit shall be deemed Confidential Information for purposes of this Agreement.

  
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Notwithstanding anything to the contrary in this Section, the audited Party may require that the Third Party conducting the audit pursuant to this Section 2.11 be
accompanied by the audited Party’s (and in the case of an audit of its Affiliates or Sublicensees, its Affiliate’s or its Sublicensee’s, respectively) representatives at all times during such audit. For clarity, Licensee shall cause
its Affiliates that are Sublicensees to comply with this Section 2.11. 
 ARTICLE III 

OWNERSHIP 

Section 3.1    Ownership. As between the Parties (including their respective Affiliates), (a) AgCo
acknowledges and agrees that SpecCo and its Affiliates own the SpecCo Licensed IP, the SpecCo Licensed Standards, and the Business Software licensed to AgCo under Section 2.4, (b) SpecCo acknowledges and agrees that AgCo
and its Affiliates own the AgCo Licensed IP, the AgCo Licensed Standards, and the Business Software licensed to SpecCo under Section 2.4, and (c) each Party acknowledges and agrees that (i) except to the extent
expressly provided herein, neither Party, nor its Affiliates or its Sublicensees, will acquire any ownership rights in the Licensed IP licensed to such Party hereunder, and (ii) such Party shall not, and shall cause its Affiliates and its
Sublicensees to not, represent or make any claim that they have ownership of any right, title or interest in any such Licensed IP. To the extent that a Party, its Affiliates or its Sublicensees (as applicable) is assigned or otherwise obtains
ownership of any right, title or interest in or to any Licensed IP in contravention of this Section 3.1, such Party hereby assigns, and shall cause its Affiliates and Sublicensees (as applicable) to assign, to the other
Party (or to such Affiliate or Third Party designated by such other Party in writing) all such right, title and interest. 
 ARTICLE IV

 PROSECUTION AND MAINTENANCE 

Section 4.1    Responsibility and Cooperation. 

(a)    Subject to Section 4.1(b), as between the Parties, Licensor shall have sole
responsibility (but not the obligation) for filing, prosecuting and maintaining all Patents within the Licensed IP with respect to which such Licensor or any of its Affiliates is granting a license to Licensee hereunder. Licensor shall be solely
responsible for all costs and expenses incurred in connection with such filing, prosecution and maintenance. 

(b)    If, during the Term, Licensor decides to abandon, or otherwise allow to lapse, any issued AgCo Licensed Patent (if
AgCo is the Licensor) or SpecCo Licensed Patent (if SpecCo is the Licensor) or published application therefor (the “First Abandoned Patent”), and substantially simultaneously decides to abandon, or otherwise allow to lapse all
foreign equivalents thereof and all other Patents that claim priority to such First Abandoned Patent in all jurisdictions in which such Patents are registered or applied-for (the “Abandoned Patent
Family”), Licensor shall use commercially reasonable efforts to notify Licensee of such decision at least thirty (30) days prior to any deadline for taking action to avoid abandonment (or other loss of rights) of such First Abandoned
Patent. Upon receipt of such notice, Licensee shall have the right to elect to assume responsibility for prosecution and maintenance of any or all Patents in such Abandoned Patent Family (the “Assumed Patents”) solely by providing
Licensor with 

  
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written notice of such election within thirty (30) days (or such shorter period requested where the final deadline is in less than thirty (30) days) following such notice from Licensor,
and Licensor shall either: (i) withdraw its decision to abandon and continue prosecuting or maintaining the Assumed Patents at its expense; or (ii) assign, and hereby does assign, its entire right, title, and interest in all Assumed
Patents to Licensee at Licensee’s sole cost and expense (provided that, for clarity, Licensee shall not be required to pay any additional consideration to Licensor in exchange for such assignment, but shall be required to
reimburse Licensor for its out-of-pocket costs and expenses incurred in connection with assigning such Patents); provided that, Licensor shall not be in
breach of the foregoing if Licensor uses commercially reasonable efforts to notify Licensee of its decision to abandon (or otherwise lose rights) but inadvertently and in good faith fails to so notify Licensee. In the event that Licensor assigns any
Assumed Patents to Licensee in accordance with the foregoing clause (ii), such Patents shall no longer be (i) if the Licensor is AgCo, AgCo Licensed Patents and instead shall be SpecCo Licensed Patents, for which the AgCo Field shall be all
fields of use, or (ii) if the Licensor is SpecCo, SpecCo Licensed Patents and instead shall be AgCo Licensed Patents, for which the SpecCo Field shall be all fields of use. Notwithstanding anything to the contrary herein, in the event that any
Licensed Patent is assigned to Licensee pursuant to this (b), such Licensed Patent shall be subject to the terms and conditions of any licenses and other rights granted by or on behalf of Licensor or any of its Affiliates with respect to such
Licensed Patent prior to the date of such assignment (to the extent that such terms and conditions do not conflict with any of the terms hereof), and unless otherwise agreed in writing, the assignee Party may abandon such Patent without notice or
obligation of assignment to the other Party. 
 (c)    For clarity, Licensor’s obligations under
Section 4.1(b) do not apply to the (i) filing or validating of any national or regional applications based on any international or regional Patent applications or filings (including any PCT or EPO applications) whether
or not designated under such applications or filings, (ii) filing of any Patent application, including the filing of any divisional, continuation or
continuation-in-part application, or (iii) maintaining or prosecuting of any unpublished Patent applications. If any Licensed Patent subject to this
Section 4.1 is subject to the terms of any Contract existing as of the Effective Date to which the Licensor or any of its Affiliates is a party or otherwise bound whereby a Third Party has the right to elect to assume
responsibility for prosecution or maintenance of, or request assignment of, such Licensed Patent, and such Third Party elects not to exercise all such rights in such Licensed Patent, such Licensed Patent shall become subject to the terms of
Section 4.1(b), except if Licensor’s grant of such rights to Licensee, or Licensee’s exercise of such rights, would breach any contractual rights or obligations owed to such Third Party or any of its Affiliates.

 Section 4.2    No Additional Obligations. For clarity, this Agreement shall not obligate either Party to
disclose to the other Party, or maintain, register, monitor, prosecute, pay for or offer to pay for (including by offering remuneration to any inventors), defend, enforce or otherwise manage any Intellectual Property, except to the extent expressly
set forth herein. 
 Section 4.3    Third Party Agreements. For clarity, and notwithstanding anything to
the contrary in this Article IV, the Parties’ rights and obligations set forth in this Article IV shall be subject to the terms of any Contracts existing as of the Effective Date to which the Licensor or any of its Affiliates is a
party or otherwise bound, subject to the requirements for Licensor to notify Licensee pursuant to Section 2.7. 

  
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 ARTICLE V 

ENFORCEMENT 

Section 5.1    Defense and Enforcement. 

(a)    Licensor’s Right. Subject to the remainder of this Section 5.1,
as between the Parties, Licensor shall have the sole right, but not the obligation, at its own cost and expense, to control enforcement or defense against any Third Party Infringement of the Licensed IP under which Licensor is granting a license to
Licensee hereunder (including by bringing an Action or entering into settlement discussions). 

(b)    Licensee’s Rights. In the case of any Third Party Infringement, Licensee may request
(which request Licensor may deny if Licensor reasonably determines that such Licensed IP should not be enforced or defended, and discusses its reasoning therefor with Licensee) that Licensor enforce or defend (as applicable) such Licensed IP
(including by bringing an Action or entering into settlement discussions), and if such request is granted, such enforcement or defense (as applicable) shall be controlled by Licensor at Licensee’s sole cost and expense; provided that
Licensee must approve in writing of all such costs and expenses in advance, and Licensor shall have no obligation to enforce or defend (as applicable) such Licensed IP in the event that Licensee does not approve of such costs and expenses in any
material respect. 
 (c)    Cooperation. If Licensor brings an Action with respect to any Third Party
Infringement or enters into settlement discussions with respect thereto, Licensee shall provide reasonable assistance in connection therewith, at Licensor’s request and Licensee shall be reimbursed for its reasonable out-of-pocket costs and expenses incurred in connection therewith. Licensor shall keep Licensee regularly informed of the status and progress of such enforcement or defense,
as applicable, and shall reasonably consider Licensee’s comments in connection with any Action or settlement discussions with respect thereto. Notwithstanding anything to the contrary herein, Licensee may, at its sole discretion and cost and
expense, join as a party to any such Action; provided that, if necessary for standing purposes, Licensee shall join such Action upon Licensor’s reasonable request and Licensor shall reimburse Licensee’s reasonable out-of-pocket costs and expenses incurred in connection therewith. Licensee shall have the right to be represented by counsel (which shall act in an advisory capacity only,
except for matters solely directed to Licensee) of its own choice in any such Action at its own cost and expense (subject to reimbursement of Licensee’s costs and expenses as described in, and subject to, the immediately preceding sentence).
Notwithstanding the foregoing, in the event of enforcement or defense in accordance with Section 5.1(b), Licensee shall be solely responsible for all costs and expenses incurred pursuant to this
Section 5.1(c). 
 (d)    Settlements. Notwithstanding anything to the contrary
herein, Licensor shall not, without the prior written consent (not to be unreasonably withheld, conditioned or delayed) of Licensee, settle any Third Party Infringement with respect to any Licensed IP if doing so would give rise to liability or any
other obligations of Licensee, its Affiliates or its Sublicensees for which Licensor is unwilling or unable to, or otherwise does not, provide full indemnification. 

  
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 (e)    Recoveries. Any and all amounts recovered by Licensor in
any Action regarding a Third Party Infringement or settlement with respect thereto shall, unless otherwise agreed (including in an agreement in connection with obtaining consent to settlement), be allocated first to reimburse Licensor’s out-of-pocket costs and expenses incurred in connection with such Action or settlement (including its obligations to Licensee pursuant to
Section 5.1(c)) and next to the Licensee’s out-of-pocket costs and expenses incurred in connection with such Action or settlement
(including, as applicable, in accordance with Section 5.1(b) and 5.1(c)). Any and all remaining amounts recovered shall be retained by Licensor. 

(f)    Interferences, etc. Notwithstanding anything to the contrary in Article IV or this Article V,
in the event that any Third Party allegations of invalidity or unenforceability of any Patents included in the Licensed IP licensed to Licensee hereunder arise in an opposition, interference, reissue proceeding, reexamination or other patent office
proceeding, Article IV shall govern the Parties’ rights and obligations with respect thereto. 

Section 5.2    Third Party Agreements. For clarity, and notwithstanding anything to the contrary in this
Article V, the Parties’ rights and obligations set forth in this Article V shall be subject to the terms of any Contracts existing as of the Effective Date to which the Licensor or any of its Affiliates is a party or otherwise
bound, subject to the requirements for Licensor to notify Licensee pursuant to Section 2.7. 
 ARTICLE VI

 INDEMNIFICATION 

Section 6.1    Indemnification. 

(a)    Each Party (the “Indemnifying Party”) agrees to indemnify, release, defend and hold harmless the
other Party and its Affiliates and its and their directors, officers, agents, and successors (each, an “Indemnitee” and collectively, the “Indemnitees”) from and against any and all Indemnifiable Losses incurred or
suffered by any of the Indemnitees, to the extent arising out of, relating to or resulting from (a) breach by the Indemnifying Party of this Agreement; (b) if the Indemnifying Party is the Licensee, use of the Licensed IP hereunder by or
on behalf of such Party or its Sublicensees; and (c) if the Indemnifying Party is the Licensor, breach by or on behalf of Licensee, its Affiliates or its Sublicensees of any contractual rights of or contractual obligations owed to any Third
Parties with respect to the Licensed IP; provided that, prior to such breach, Licensor or any of its Affiliates is aware, and Licensee and its Affiliates are not aware, of such contractual rights or obligations, in each case (in
respect of the foregoing subsections (a) through (c)), except to the extent that such Indemnifiable Losses (i) are subject to indemnification by the other Party pursuant to this Section 6.1 or (ii) arise out
of fraud, bad faith, gross negligence or willful misconduct of the other Party or its Affiliates. 
 (b)    Except for
the entitlement to specific performance or other equitable remedy, each solely as contemplated by Section 10.12, the remedies provided in this Section 6.1 shall be deemed the sole and exclusive
remedies of the Parties with respect to the subject matter 

  
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 of this Agreement, and the Parties each hereby waive to the extent permitted by applicable Law any other
remedy to which they or any of their respective Indemnitees are entitled to hereunder at law or in equity with respect thereto. 

Section 6.2    Indemnification Procedures. The indemnification procedures set forth in Sections 8.5
through 8.10 of the Separation Agreement shall apply to the matters indemnified hereunder, mutatis mutandis. 

Section 6.3    Disclaimer of Representations and Warranties. EACH PARTY HEREBY ACKNOWLEDGES THAT, EXCEPT TO
THE EXTENT EXPRESSLY SET FORTH IN THE SEPARATION AGREEMENT OR IN ANY OF THE OTHER ANCILLARY AGREEMENTS, EACH OF AGCO (ON BEHALF OF ITSELF AND EACH MEMBER OF THE AGCO GROUP) AND SPECCO (ON BEHALF OF ITSELF AND EACH MEMBER OF THE SPECCO GROUP)
UNDERSTANDS AND AGREES THAT NEITHER PARTY IS REPRESENTING OR WARRANTING IN ANY WAY UNDER THIS AGREEMENT (INCLUDING WITH RESPECT TO ANY CONSENTS REQUIRED IN CONNECTION HEREWITH, MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT, VALIDITY, ENFORCEABILITY OR SCOPE OF THE LICENSED IP) AND EACH PARTY HEREBY EXPRESSLY DISCLAIMS ALL SUCH REPRESENTATIONS AND WARRANTIES. EXCEPT AS MAY EXPRESSLY BE SET FORTH IN THE SEPARATION
AGREEMENT OR IN ANY OTHER ANCILLARY AGREEMENT, ALL LICENSED IP IS BEING LICENSED ON AN “AS IS,” “WHERE IS,” AND “WITH ALL FAULTS” BASIS. 

Section 6.4    Limitation on Liability. NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED IN THIS AGREEMENT
(INCLUDING THIS ARTICLE VI), EXCEPT WITH RESPECT TO BREACHES OF ARTICLE VII, NEITHER PARTY SHALL BE LIABLE TO THE OTHER PARTY OR ITS AFFILIATES, WHETHER IN CONTRACT, TORT (INCLUDING NEGLIGENCE AND STRICT LIABILITY) OR
OTHERWISE, AT LAW OR IN EQUITY, AND “LOSSES” SHALL NOT INCLUDE ANY AMOUNTS FOR ANY SPECIAL, INCIDENTAL, CONSEQUENTIAL OR PUNITIVE DAMAGES; PROVIDED THAT NOTHING HEREIN SHALL PREVENT ANY INDEMNITEE FROM BEING INDEMNIFIED
PURSUANT TO THIS ARTICLE VI FOR ALL COMPONENTS OF AWARDS AGAINST THEM IN ANY THIRD PARTY CLAIM. 
 ARTICLE VII 

CONFIDENTIALITY 

Section 7.1    Disclosure and Use Restrictions. The Parties acknowledge and agree that the Umbrella Secrecy
Agreement is hereby incorporated into this Agreement, and shall apply to the transactions contemplated by this Agreement, mutatis mutandis. For the avoidance of doubt, Licensee’s material breach of the Umbrella Secrecy Agreement with
respect to Confidential Information shall constitute a material breach of this Agreement. 

  
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 ARTICLE VIII 

TERM 

Section 8.1    Term. The terms of the licenses and other grants of rights (and related obligations) under
this Agreement (the “Term”) shall remain in effect (a) to the extent with respect to the Licensed Patents and Licensed Copyrights, on a Licensed
Patent-by-Licensed Patent and Licensed Copyright-by-Licensed Copyright basis, until
expiration, invalidation or abandonment of such Licensed Patent or Licensed Copyright (as applicable), (b) to the extent with respect to any Licensed Know-How, until such Licensed Know-How no longer constitutes Confidential Information; provided that, after expiration of the Term with respect to any Licensed Know-How, the licenses granted
hereunder to such Know-How shall survive such expiration in perpetuity, and (c) with respect to Business Software and Licensed Standards, in perpetuity. 

Section 8.2    Effect of Termination. 

(a)    Accrued Rights. Expiration of this Agreement, in part or in its entirety, shall be without prejudice to any
rights which shall have accrued to the benefit of either Party prior to such expiration. 
 (b)    Survival. The
following provisions of this Agreement, together with all other provisions of this Agreement that expressly specify that they survive, shall survive expiration of this Agreement, in part or in its entirety: Articles I, III, VI, VII, IX and X and
this Section 8.2. 
 ARTICLE IX 

DISPUTE RESOLUTION 

Section 9.1    Negotiation and Arbitration. In the event of a controversy, dispute or Action between
the Parties arising out of, in connection with, or in relation to this Agreement or any of the transactions contemplated hereby, including with respect to the interpretation, performance, nonperformance, validity or breach thereof, and including any
Action based on contract, tort, statute or constitution, including the arbitrability of such controversy, dispute or Action, the procedures as set forth in Article X of the Separation Agreement shall apply, mutatis mutandis. 

ARTICLE X 

MISCELLANEOUS 

Section 10.1    Complete Agreement; Construction. This Agreement, including the Exhibits and Schedules,
together with the Separation Agreement, the Umbrella Secrecy Agreement, other Ancillary Agreements and, solely to the extent and for the limited purpose of effecting the Internal Reorganization, the Conveyancing and Assumption Instruments, shall
constitute the entire agreement between the Parties with respect to the subject matter hereof and shall supersede all previous negotiations, commitments, course of dealings and writings with respect to such subject matter. In the event of any
inconsistency between this Agreement and any Exhibit or Schedule hereto, the Exhibit or Schedule shall prevail. In the event and to the extent that there shall be a conflict between the provisions of this Agreement and the provisions

  
 24 

 
of the Separation Agreement, the terms and conditions of this Agreement shall control (except as expressly set forth in Section 12.1 of the Separation Agreement). In the event of any
inconsistency between this Agreement and the provisions of (i) any Conveyancing and Assumption Instrument or (ii) that certain Intercompany License Agreement – IB, entered into as of April 30, 2019 by and between Pioneer Hi-Bred International, Inc., E.I. du Pont de Nemours and Company, PM Taiwan, Inc., DuPont US Holding, LLC, and DuPont Industrial Biosciences USA, LLC, the terms and conditions of this Agreement shall control. 

Section 10.2    Assignment. 

(a)    Neither this Agreement nor any of the rights, interests or obligations of a Party under this Agreement shall be
assigned, in whole or in part, by operation of law or otherwise, by such Party without the prior written consent of the other Party (which consent may be granted or withheld in such other Party’s sole discretion); provided
however, that such first Party (i) may assign, in whole or in part, by operation of law or otherwise, any of the foregoing to one or more of its Affiliates and (ii) may assign, in whole or in part, by operation of law or otherwise,
any of the foregoing to the successor to all or a portion of the business or assets to which this Agreement relates; provided that, (x) the assigning Party shall promptly notify the
non-assigning Party in writing of any assignments it makes under Section 10.2(a)(ii) and (y) in either case of (i) or (ii), the party to whom this Agreement is assigned
shall agree in writing to be bound by the terms of this Agreement as if named as a “Party” hereto with respect to all or such portion of this Agreement so assigned. 

(b)    Any assignment or other disposition in violation of this Section 10.2 shall be void. No
assignment shall relieve the assigning Party of any of its obligations under this Agreement that accrued prior to such assignment unless agreed to by the non-assigning Party. 

Section 10.3    Counterparts. This Agreement may be executed and delivered (including by facsimile or other
means of electronic transmission, such as by electronic mail in “pdf” form) in more than one counterpart, all of which shall be considered one and the same agreement, each of which when executed shall be deemed to be an original, and shall
become effective when one or more such counterparts have been signed by each of the Parties and delivered to each of the Parties. 

Section 10.4    Notices. All notices and other communications to be given to any Party under this Agreement
shall be sufficiently given for all purposes hereunder if in writing and delivered by hand, courier or overnight delivery service, or five (5) days after being mailed by certified or registered mail, return receipt requested, with appropriate
postage prepaid, or electronically mailed (with a response confirming receipt), and shall be directed to the address set forth below (or at such other address for a Party as shall be specified in a notice given in accordance with this
Section 10.4): 
 To AgCo: 

Corteva, Inc. 
 c/o Corteva, Inc.

 974 Centre Road, Building 735 

					
	Wilmington, DE 19805
	Attn:	  	General Counsel	  	
	Email:	  	cornel.b.fuerer@corteva.com	  	

  
 25 

					
	
	with a copy (which shall not constitute notice) to:
	
	Skadden, Arps, Slate, Meagher & Flom LLP
	 Four Times Square
 New York, NY
10036

	Attention:	  	Brandon Van Dyke, Esq.	  	
	Email:	  	Brandon.VanDyke@skadden.com	  	
	Facsimile:	  	(917) 777-3743	  	
	
	To SpecCo:
	
	DowDuPont, Inc.
	c/o DuPont de Nemours, Inc.
	974 Centre Road, Building 730
	Wilmington, DE 19805
	Attn: General Counsel	  	
	Email: Erik.T.Hoover@dupont.com	  	
	
	with a copy (which shall not constitute notice) to:
	
	Skadden, Arps, Slate, Meagher & Flom LLP
	 Four Times Square
 New York, NY
10036

	Attention:	  	Brandon Van Dyke, Esq.	  	
	Email:	  	Brandon.VanDyke@skadden.com	  	
			
	Facsimile:	  	(917) 777-3743	  	

 Section 10.5    Waivers. Any
provision of this Agreement may be waived, if and only if, such waiver is in writing and signed by the Party against whom the waiver is to be effective. Notwithstanding the foregoing, no failure to exercise and no delay in exercising, on the part of
any Party, any right, remedy, power or privilege hereunder shall operate as a waiver hereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise
of any other right, remedy, power or privilege. Any consent required or permitted to be given by any Party to any other Party under this Agreement shall be in writing and signed by the Party giving such consent and shall be effective only against
such Party (and the members of its Group). 
 Section 10.6    Amendments. This Agreement may not be
modified or amended except by an agreement in writing signed by each of the Parties. 

  
 26 

 Section 10.7    Affiliates. Each of the Parties shall cause
to be performed, and hereby guarantees the performance of, all actions, agreements and obligations set forth herein to be performed by any Affiliate of such Party. 

Section 10.8    Third Party Beneficiaries. Except as provided in Article VI relating to Indemnitees,
this Agreement is solely for the benefit of, and is only enforceable by, the Parties and their permitted successors and assigns and should not be deemed to confer upon Third Parties any remedy, benefit, claim, liability, reimbursement, claim of
Action or other right of any nature whatsoever, in excess of those existing without reference to this Agreement. 

Section 10.9    Title and Headings. Titles and headings to sections herein are inserted for the convenience
of reference only and are not intended to be a part of or to affect the meaning or interpretation of this Agreement. 

Section 10.10    Exhibits and Schedules. The Exhibits and Schedules shall be construed with and as an
integral part of this Agreement to the same extent as if the same had been set forth verbatim herein. 

Section 10.11    Governing Law. This Agreement and any dispute arising out of, in connection with or relating
to this Agreement shall be governed by and construed in accordance with the Laws of the State of Delaware, without giving effect to the conflicts of laws principles thereof. 

Section 10.12    Specific Performance. The Parties acknowledge and agree that irreparable harm would occur in
the event that the Parties do not perform any provision of this Agreement in accordance with its specific terms or otherwise breach this Agreement and the remedies at law for any breach or threatened breach of this Agreement, including monetary
damages, are inadequate compensation for any such non-performance or breach. Accordingly, in the event of any actual or threatened default in or breach of, any of the terms, conditions and provisions of this
Agreement, the Parties agree that the Party or Parties to this Agreement who are or are to be thereby aggrieved shall, subject and pursuant to the terms of this Article X (including for the avoidance of doubt, after compliance with all notice
and negotiation provisions herein), have the right to specific performance and injunctive or other equitable relief of its or their rights under this Agreement in addition to any and all other rights and remedies at law or in equity, and all such
rights and remedies shall be cumulative. The Parties agree that any defense in any action for specific performance that a remedy at law would be adequate is hereby waived, and that any requirements for the securing or posting of any bond with such
remedy are hereby waived. 
 Section 10.13    Severability. In the event any one or more of the provisions
contained in this Agreement should be held invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein and therein shall not in any way be affected or impaired thereby. The
Parties shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid, legal and enforceable provisions, the economic effect of which comes as close as possible to that of the invalid, illegal or
unenforceable provisions. 

  
 27 

 Section 10.14    No Duplication; No Double Recovery.
Nothing in this Agreement is intended to confer to or impose upon any Party a duplicative right, entitlement, obligation or recovery with respect to any matter arising out of the same facts and circumstances. 

Section 10.15    Bankruptcy. All rights and licenses granted under or pursuant to this Agreement by a
Licensor are, and will otherwise be deemed to be, for purposes of Section 365(n) of the United States Bankruptcy Code, licenses of rights to “intellectual property” as defined under Section 101 of the United States Bankruptcy
Code regardless of the form or type of intellectual property under or to which such rights and licenses are granted and regardless of whether the intellectual property is registered in or otherwise recognized by or applicable to the United States of
America or any other country or jurisdiction. The Parties agree that each Licensee will retain and may fully exercise all of their rights and elections under the United States Bankruptcy Code. The Parties further agree that, in the event of the
commencement of a bankruptcy proceeding by or against a Party under the United States Bankruptcy Code, the Party hereto that is not a party to such proceeding will be entitled to a complete duplicate of (or complete access to, as appropriate) any
such intellectual property and all embodiments of such intellectual property, which, if not already in the non-subject Party’s possession, will be promptly delivered to it (a) upon any such
commencement of a bankruptcy proceeding upon the non-subject Party’s written request therefore, unless the Party subject to such proceeding continues to perform all of its obligations under this Agreement
or (b) if not delivered under clause (a) above, following the rejection of this Agreement by or on behalf of the Party subject to such proceeding upon written request therefore by the non-subject
Party. 
 * * * * * 

[End of page left intentionally blank] 

  
 28 

 IN WITNESS WHEREOF, the Parties have caused this Agreement to be duly executed as of the day
and year first above written. 
  

									
	SPECIALTY PRODUCTS N&H, INC.	  		  	PM TAIWAN, INC.
					
		  	 /s/ Michael P. Heffernan
	  		  		  	 /s/ Michael P. Heffernan

	Name:	  	Michael P. Heffernan	  		  	Name:	  	Michael P. Heffernan
	Title:	  	President	  		  	Title:	  	President
			
	DUPONT ELECTRONICS, INC.	  		  	DUPONT SAFETY & CONSTRUCTION, INC.
					
		  	 /s/ Michael P. Heffernan
	  		  		  	 /s/ Michael P. Heffernan

	Name:	  	Michael P. Heffernan 
	  		  	Name:	  	Michael P. Heffernan
	Title:	  	President	  		  	Title:	  	President
			
	DUPONT POLYMERS, INC.	  		  	DUPONT US HOLDING LLC
					
		  	 /s/ Michael P. Heffernan
	  		  		  	 /s/ Michael P. Heffernan

	Name:	  	Michael P. Heffernan 
	  		  	Name:	  	Michael P. Heffernan
	Title:	  	President	  		  	Title:	  	President
			
	DUPONT INDUSTRIAL BIOSCIENCES USA, LLC	  		  	DOWDUPONT INC.
					
		  	 /s/ Jessica Sinnott
	  		  		  	 /s/ Erik T. Hoover

	Name:	  	Jessica Sinnott	  		  	Name:	  	Erik T. Hoover
	Title:	  	Associate General Counsel – IP	  		  	Title:	  	General Counsel & Secretary

 IN WITNESS WHEREOF, the Parties have caused this Agreement to be duly executed as of the day
and year first above written. 
  

									
	CORTEVA, INC.	  		  	PIONEER HI-BRED INTERNATIONAL, INC.
					
		  	 /s/ Cornel B. Fuerer
	  		  		  	 /s/ Cornel B. Fuerer

	Name:	  	Cornel B. Fuerer	  		  	Name:	  	Cornel B. Fuerer
	Title:	  	General Counsel & Secretary	  		  	Title:	  	General Counsel & Secretary
				
	E.I. DU PONT DE NEMOURS AND COMPANY	  		  		  	
					
		  	 /s/ Cornel B. Fuerer
	  		  		  	
	Name:	  	Cornel B. Fuerer	  		  		  	
	Title:	  	General Counsel & Secretary

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