Document:

Form of Indemnification Agreement

 Exhibit 10.46 
 INDEMNITY AGREEMENT 
 THIS INDEMNITY AGREEMENT (this
“Agreement”) is made as of             , 2011, by and between Kraton Performance Polymers, Inc., a Delaware corporation (the
“Company”), and             (“Indemnitee”). 
 RECITALS 
 WHEREAS, it is essential that the Company retain
and attract as directors, officers and key employees the most capable persons available; 
 WHEREAS, increased corporate
litigation has subjected directors and officers to litigation risks and expenses, and the limitations on directors and officers liability insurance have made it increasingly difficult for the Company to attract and retain such persons; 

WHEREAS, Indemnitee is (or is being elected as) a director, officer and/or key employee of the Company and in that capacity is (or
will be) performing a valuable service for the Company; 
 WHEREAS, Indemnitee does not regard the current protection in
place as adequate under the present circumstances, and may not be willing to serve as an key employee, officer or director (as applicable) without additional protection, and the Company desires Indemnitee to serve in such capacity; and

 WHEREAS, the Company’s Certificate of Incorporation (the “Charter”) and Bylaws (the
“Bylaws”) contain provisions that require the Company to indemnify its directors and officers from and against liabilities and expenses they incur in their capacities as such, and the Bylaws and Section 145 of the
General Corporation Law of the State of Delaware (“DGCL”) provide that they are not exclusive of any other rights to indemnification and advancement of expenses. 

NOW, THEREFORE, in consideration of the premises and the covenants contained herein, the Company and Indemnitee do hereby covenant
and agree as follows: 
 AGREEMENT 
 1. Indemnification. 
 (a) Third Party Actions. The Company (for
itself and its direct and indirect subsidiaries, including, without limitation, Kraton Polymers LLC) shall indemnify, hold harmless and exonerate Indemnitee in accordance with the provisions of this Section 1(a) if Indemnitee was or is a party
or is threatened to be made a party to, or is otherwise involved in (including as a witness) any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative (a
“Proceeding”) (other than Proceeding by or in the right of the Company), by reason of the fact that Indemnitee is or was or has agreed to become a director, officer, employee or agent of the Company, or is or was serving or
has agreed to serve at the request of the Company as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, or by reason of any action

 
alleged to have been taken or omitted in such capacity, against expenses (including attorneys’ fees), judgments, fines, liabilities and amounts paid in settlement (if such settlement is
approved in advance by the Company, which approval shall not be unreasonably withheld) actually and reasonably incurred by Indemnitee or on his or her behalf in connection with such Proceeding or any appeal therefrom if Indemnitee acted in good
faith and in a manner which Indemnitee reasonably believed to be in or not opposed to the best interests of the Company, and, with respect to any criminal Proceeding, had no reasonable cause to believe Indemnitee’s conduct was unlawful. The
termination of any Proceeding by judgment, order, settlement, conviction, or upon a plea of nolo contendere or its equivalent, shall not, in itself, create a presumption that Indemnitee did not act in good faith and in a manner
which Indemnitee reasonably believed to be in or not opposed to the best interests of the Company and, with respect to any criminal Proceeding, had reasonable cause to believe that Indemnitee’s conduct was unlawful. For all purposes of this
Agreement, the term “the Company” shall, as the context reasonably requires, include Kraton Performance Polymers, Inc. and all of its direct and indirect subsidiaries, including, without limitation, Kraton Polymers LLC, and the indemnities
and protections set forth in this Agreement shall also apply to any applicable action(s) hereunder that the Indemnitee has undertaken or may undertake on behalf of any such direct or indirect subsidiary of the Company. 

(b) Actions by or in the Right of the Company. The Company shall indemnify, hold harmless and exonerate Indemnitee in accordance
with the provisions of this Section 1(b) if Indemnitee was or is a party or is threatened to be made a party to, or is otherwise involved in (including as a witness) any Proceeding by or in the right of the Company to procure a judgment in its
favor, by reason of the fact that Indemnitee is or was or has agreed to become a director, officer, employee or agent of the Company, or is or was serving or has agreed to serve at the request of the Company as a director, officer, employee or agent
of another corporation, partnership, joint venture, trust or other enterprise, or by reason of any action alleged to have been taken or omitted in such capacity, against expenses (including attorneys’ fees), judgments, fines, liabilities and
amounts paid in settlement (if such settlement is approved in advance by the Company, which approval shall not be unreasonably withheld) actually and reasonably incurred by Indemnitee or on his or her behalf in connection with such Proceeding or any
appeal therefrom if Indemnitee acted in good faith and in a manner which Indemnitee reasonably believed to be in or not opposed to the best interests of the Company; except that, (1) such indemnification shall be limited to expenses
(including attorney’s fees) actually and reasonably incurred by Indemnitee in the defense or settlement of such Proceeding and any appeal therefrom, and (2) no indemnification shall be made in respect of any claim, issue or matter as to
which such Indemnitee shall have been adjudged to be liable to the Company unless and only to the extent that the Delaware Court of Chancery or the court in which such Proceeding was brought shall determine on application that, despite the
adjudication of liability but in view of all the circumstances of the case, such Indemnitee is fairly and reasonably entitled to indemnity for such expenses which the Delaware Court of Chancery or such other court shall deem proper. 

(c) Mandatory Payment of Expenses. To the extent that Indemnitee has been successful on the merits or otherwise in defense of any
Proceeding referred to in Subsections (a) and (b) of this Section 1 or in defense of any claim, issue or matter therein (including any Proceeding by the Company to recover advanced expenses), Indemnitee shall be indemnified against
expenses (including attorneys’ fees) actually and reasonably incurred by such Indemnitee in connection therewith to the fullest extent permitted by Delaware law. 

  
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 (d) Determination of Conduct. Any indemnification of Indemnitee under Subsections
(a) and (b) of this Section 1 (unless ordered by a court) shall be made by the Company upon a determination that the indemnification of Indemnitee is proper in the circumstances because Indemnitee has met the applicable standard of
conduct set forth in Subsections (a) and (b) of this Section 1. Such determination shall be made (1) by a majority vote of the directors of the Company who are not parties to such Proceeding (“Disinterested
Directors”), even though less than a quorum, or (2) by a committee of such Disinterested Directors designated by majority vote of such Disinterested Directors, or (3) if there is no such Disinterested Directors, or if such
Disinterested Directors so direct, by Independent Counsel in a written opinion, or (4) by the stockholders. Notwithstanding the foregoing, Indemnitee shall be entitled to contest any determination as to Indemnitee’s standard of conduct set
forth in Subsections (a) and (b) of this Section 1 by petitioning the Delaware Court of Chancery. 
 For purposes
of this Agreement, “Independent Counsel” shall mean a law firm or a member of a law firm with significant experience in matters of corporation law and neither presently is, nor in the past five (5) years has been,
retained to represent: (i) the Company or Indemnitee in any matter material to either such party (other than with respect to matters concerning Indemnitee under this Agreement, or of other indemnitees under similar indemnification agreements);
or (ii) any other party to the Proceeding giving rise to a claim for indemnification hereunder. Notwithstanding the foregoing, the term “Independent Counsel” shall not include any person who, under the applicable standards of
professional conduct then prevailing, would have a conflict of interest in representing either the Company or Indemnitee in an action to determine Indemnitee’s rights under this Agreement. 

(e) Selection of Independent Counsel. If the determination that the indemnification of Indemnitee is proper is to be made by
Independent Counsel pursuant to Subsection (d) of this Section 1, Independent Counsel shall be selected jointly by Indemnitee and the Company. In the event Indemnitee and the Company cannot agree on the selection of Independent Counsel,
either party may petition the Delaware Court of Chancery to resolve the issue or to make its own provisions for the selection of Independent Counsel. The Company shall pay any and all reasonable fees and expenses of Independent Counsel incurred in
connection with acting pursuant to Section 1(d) hereof, and the Company shall pay all reasonable fees and expenses incident to the procedures of this Subsection (e), regardless of the manner in which Independent Counsel was selected or
appointed. 
 2. Expenses; Indemnification Procedure. 
 (a) Advancement of Expenses. Expenses (including attorney’s fees) incurred by Indemnitee in defending any Proceeding, if Indemnitee reasonably believes that he is entitled to indemnification
pursuant to Subsection (a) or (b) of Section 1 hereof, shall be paid by the Company in advance of the final disposition of such Proceeding; provided that such advancement of expenses (including attorney’s fees) incurred by
Indemnitee shall only be made upon receipt of an undertaking by or on behalf of Indemnitee to repay such amount if it shall ultimately be determined by a final non-appealable judicial decision that such person is not entitled to be indemnified by
the Company as provided in this Agreement (the “Undertaking”). Such advancement of expenses (including attorney’s fees) shall be unsecured and interest free. 

  
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 (b) Notice and Cooperation by Indemnitee. Indemnitee shall give the Company a notice
in writing as soon as practicable of any Proceeding involving Indemnitee as a party or a participant (as a witness or otherwise) for which indemnification will or could be sought under this Agreement. Any request for indemnification or advancement
of expenses (including attorney’s fees) by Indemnitee shall be made in writing to the Company. Such written request(s) may be delivered from time to time and at such time(s) as Indemnitee deems appropriate in his or her sole discretion. In
addition, Indemnitee shall cooperate with, and provide such information to, the Company as it may reasonably require and as shall be within Indemnitee’s power. Upon making a request for indemnification, Indemnitee shall be presumed to be
entitled to indemnification hereunder and the Company shall have the burden of proving that Indemnitee is not entitled to be indemnified. The failure of Indemnitee to so notify the Company shall not relieve the Company of any obligation which it may
have to Indemnitee under this Agreement, or otherwise. 
 (c) Procedure. Any indemnification and advancement of expenses
determined proper in accordance with Sections 1 or 2 hereof shall be made promptly, and in any event no later than thirty (30) days, upon the receipt of written request of Indemnitee. If a determination by the Company that Indemnitee is
entitled to indemnification pursuant to Section 1(d) is required, and the Company fails to respond within thirty (30) days to a written request for indemnity, the Company shall be deemed to have approved such request. If the Company denies
a written request for indemnity or advancement of expenses, in whole or in part, or if payment in full pursuant to such written request is not made within thirty (30) days, Indemnitee may, but need not, at any time thereafter bring an action
against the Company to recover the unpaid amount of the claim and, subject to Section 12 hereof, Indemnitee shall also be entitled to be paid for the expenses (including attorneys’ fees) in connection with such action. It shall be a
defense to any such proceeding (other than an action brought to enforce a claim for advancement of expenses under Subsection (a) of this Section 2, where the Undertaking has been received by the Company) that Indemnitee has not met the
applicable standard of conduct set forth in Sections 1(a) and 1(b), but the burden of proving such defense shall be on the Company. Neither the failure of the Company, including the Company’s Board of Directors (the
“Board”), Disinterested Directors, Independent Counsel and stockholders, to have made a determination pursuant to Section 1(d) prior to the commencement of such action, nor the fact that there has been an actual
determination by the Company, including the Board, Disinterested Directors, Independent Counsel and stockholders, pursuant to Section 1(d) that Indemnitee has not met the applicable standard of conduct set forth in Sections 1(a) and 1(b), shall
be a defense to the action or create a presumption that Indemnitee has not met the applicable standard of conduct set forth in Sections 1(a) and 1(b). For purposes of any determination of whether Indemnitee has met the applicable standard of conduct
set forth in Sections 1(a) and 1(b), Indemnitee shall be deemed to have acted in good faith if Indemnitee’s action is based on the records or books of account of the Company, including financial statements, or on information supplied to
Indemnitee by the Company or the directors and officers of the Company in the course of their duties, or on the advice of legal counsel for the Company, the Board, any committee of the Board or any director, or on information or records given or
reports made to the Company, the Board, any committee of the Board or any director by an independent certified public accountant, an appraiser or other 

  
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expert selected with reasonable care by the Company, the Board, any committee of the Board or any director, provided that the foregoing shall not be deemed to be exclusive or to limit in
any way the other circumstances in which Indemnitee may be deemed or found to have met the applicable standard of conduct set forth in Sections 1(a) and 1(b). 
 (d) Assumption of Defense. In the event the Company shall be obligated under Section 2(a) hereof to pay the expenses of any Proceeding involving Indemnitee, the Company, if appropriate, shall
be entitled to assume the defense of such Proceeding, with counsel approved by Indemnitee (such approval not to be unreasonably withheld), upon the delivery to Indemnitee of written notice of its election to do so. After delivery of such notice,
approval of such counsel by Indemnitee and the retention of such counsel by the Company, the Company will not be liable to Indemnitee under this Agreement for any fees of counsel subsequently incurred by Indemnitee with respect to the same
Proceeding; provided that (i) Indemnitee shall have the right to employ his or her counsel in any such Proceeding at Indemnitee’s expense; and (ii) if (A) the employment of counsel by Indemnitee has been previously
authorized by the Company, (B) Indemnitee shall have reasonably concluded that there may be a conflict of interest between the Company and Indemnitee in the conduct of any such defense, or (C) the Company shall not, in fact, have employed
counsel to assume the defense of such Proceeding, then the fees and expenses of Indemnitee’s counsel shall be at the expense of the Company. Under no circumstance shall the Company settle any Proceeding (in whole or in part) if such settlement
would impose any expense, judgment, fine, penalty or limitation on Indemnitee without Indemnitee’s prior written consent. 
 3.
Additional Indemnification Rights; Nonexclusivity. 
 (a) Additional Indemnification Rights. Notwithstanding any other
provision of this Agreement, the Company hereby agrees to indemnify Indemnitee against any expenses (including attorneys’ fees), judgments, fines, liabilities and amounts paid in settlement (if such settlement is approved in advance by the
Company, which approval shall not be unreasonably withheld) actually and reasonably incurred by Indemnitee or on his or her behalf in relation to or in connection with Indemnitee acting as a director, officer, employee or agent of the Company,
or as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise at the request of the Company, or by reason of any action alleged to have been taken or omitted in such capacity, to the
fullest extent permitted by DGCL and other applicable laws, notwithstanding the fact that such indemnification is not specifically authorized by the other provisions of this Agreement, the Charter or the Bylaws. In the event of any change in DGCL or
any applicable law which narrows the right of a Delaware corporation to indemnify Indemnitee, such changes, to the extent not otherwise required by such law to be applied to this Agreement, shall have no effect on this Agreement or the parties’
rights and obligations hereunder. 
 (b) Nonexclusivity. The indemnification provided by this Agreement shall not be
deemed exclusive of any rights to which Indemnitee may otherwise be entitled under the Charter, the Bylaws, any agreement, any vote of stockholders or Disinterested Directors, DGCL or other applicable laws. 

  
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 4. Partial Indemnification; Contribution in the Event of Joint Liability. 

(a) Partial Indemnification. If Indemnitee is entitled under any provision of this Agreement to indemnification by the Company for
some or a portion of the expenses (including attorneys’ fees), judgments, fines or amounts paid in settlement (if such settlement is approved in advance by the Company, which approval shall not be unreasonably withheld) actually and reasonably
incurred by Indemnitee in connection with any Proceeding, but not for the total amount thereof, the Company shall nevertheless indemnify Indemnitee for the portion of such expenses, judgments, fines or amounts paid in settlement to which Indemnitee
is entitled. 
 (b) Contribution in the Event of Joint Liability. Whether or not Indemnitee is entitled under any
provision of this Agreement to indemnification by the Company, in respect of any Proceeding in which the Company is jointly liable with Indemnitee (or would be if joined in such Proceeding), the Company shall pay, in the first instance, the entire
amount of any judgment or settlement of such Proceeding without requiring Indemnitee to contribute to such payment and the Company hereby waives and relinquishes any right of contribution it may have against Indemnitee. Further, the Company shall
indemnify, hold harmless and exonerate Indemnitee from any claims of contribution brought by officers, directors or employees of the Company other than Indemnitee who is jointly liable with Indemnitee. If, for any reason, Indemnitee shall elect or
be required to pay all or any portion of any judgment or settlement in such Proceeding in which the Company is jointly liable with Indemnitee (or would be if joined in such Proceeding), the Company shall indemnify, hold harmless and exonerate
Indemnitee for such amount Indemnitee paid. The Company shall not enter into any settlement of any Proceeding in which the Company is jointly liable with Indemnitee (or would be if joined in such Proceeding) unless such settlement provides for a
full and final release of all claims asserted against Indemnitee. 
 5. Exclusions. Notwithstanding any provision in this Agreement, the
Company shall not be obligated to indemnify, hold harmless, exonerate or advance expenses (including attorney’s fees) to Indemnitee pursuant to the terms of this Agreement: 

(a) in connection with any claim made against Indemnitee for which payment has actually been received by or on behalf of Indemnitee under
any insurance policy or other indemnity provision, except with respect to any excess beyond the amount actually received under any insurance policy, contract, agreement, other indemnity provision or otherwise; 

(b) in connection with any claim made against Indemnitee for an accounting of profits made from the purchase and sale (or sale and
purchase) by Indemnitee of securities of the Company within the meaning of Section 16(b) of the Securities Exchange Act of 1934, as amended, or similar provisions of state statutory law or common law; or 

(c) in connection with any Proceeding (or part thereof) initiated by Indemnitee, unless the Proceeding (or part thereof) has been
authorized in advance by the Board (other than Proceedings initiated by Indemnitee to enforce a right to indemnification or advancement of expenses). 

  
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 6. Officer and Director Liability Insurance. The Company shall purchase and maintain a policy or
policies of insurance with reputable insurance companies on behalf of any person who is or was or has agreed to become a director, officer, employee or agent of the Company, or is or was serving or has agreed to serve at the request of the Company
as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, against any liability asserted against such person and incurred by such person or on such person’s behalf in any such
capacity, or arising out of such person’s status as such (“D&O Insurance”), whether or not the Company would have the power to indemnify him or her against such liability under this Agreement. If, at the time the
Company receives notice from any source of a Proceeding as to which Indemnitee is a party or a participant (as a witness or otherwise), the Company has D&O Insurance in effect, the Company shall give prompt notice of such Proceeding to the
insurers in accordance with the procedures set forth in the respective policies. The Company shall thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of Indemnitee, all amounts payable as a result of such
Proceeding in accordance with the terms of such policies. 
 7. Severability. Nothing in this Agreement is intended to require or shall
be construed as requiring the Company to take or not take any act in violation of any applicable law. The Company shall not be in breach of this Agreement if, pursuant to court order, it is prohibited from performing its obligations hereunder. The
provisions of this Agreement shall be severable as provided in this Section 7. If this Agreement or any portion hereof shall be invalidated on any ground by any court of competent jurisdiction, then the Company shall nevertheless indemnify
Indemnitee to the fullest extent permitted by any applicable portion of this Agreement that shall not have been invalidated and to the fullest extent permitted by DGCL and other applicable laws, and the balance of this Agreement not so invalidated
shall be enforceable in accordance with its terms. 
 8. Construction of Certain Phrases. For purposes of this Agreement, references to
the “Company” shall include any constituent corporation (including any constituent of a constituent) absorbed by purchase, consolidation, merger or otherwise which, if its separate existence had continued, would have had power and
authority to indemnify its directors, officers, employees or agents, so that if Indemnitee is or was a director, officer, employee or agent of such constituent corporation, or a director, officer, employee or agent of another corporation,
partnership, joint venture, trust or other enterprise at the request of such constituent corporation, Indemnitee shall stand in the same position under the provisions of this Agreement with respect to the resulting or surviving corporation as
Indemnitee would have with respect to such constituent corporation if its separate existence had continued. 
 9. Duration of Agreement.
This Agreement shall be deemed to be effective as of the commencement date of Indemnitee’s service as a director, officer, employee or agent of the Company, or as a director, officer, employee or agent of another corporation, partnership, joint
venture, trust or other enterprise at the request of the Company, and shall continue thereafter so long as Indemnitee may be subject to any possible Proceeding (including any rights of appeal thereto and any Proceeding commenced by Indemnitee
pursuant to Section 1(d) of this Agreement) by reason of his or her service as a director, officer, employee or agent of the Company, or as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or
other enterprise at the request of the Company, whether or not Indemnitee is acting in any such capacity at the time any liability or expense is incurred for which indemnification can be provided under this Agreement. 

  
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 10. Counterparts. This Agreement may be executed in one or more counterparts, each of which shall
constitute an original but all of which together shall constitute one and the same Agreement. 
 11. Successors and Assigns. This
Agreement shall be binding upon the Company and its successors and assigns, and shall inure to the benefit of Indemnitee and Indemnitee’s estate, heirs, legal representatives and assigns. 

12. Attorneys’ Fees. In the event that any action, suit or proceeding is instituted by Indemnitee under this Agreement to enforce or
interpret any of the terms hereof, Indemnitee shall be entitled to be paid all court costs and expenses (including attorneys’ fees), incurred by Indemnitee with respect to such action, unless as a part of such action, suit or proceeding the
court of competent jurisdiction determines that each material assertion made by Indemnitee as a basis for such action, suit or proceeding was not made in good faith or was frivolous. In the event of an action instituted by or in the name of the
Company under this Agreement or to enforce or interpret any of the terms of this Agreement, Indemnitee shall be entitled to be paid all court costs and expenses (including attorneys’ fees) incurred by Indemnitee in defense of such action
(including with respect to Indemnitee’s counterclaims and cross-claims made in such action), unless as a part of such action the court of competent jurisdiction determines that each material defense asserted by Indemnitee was not made in good
faith or was frivolous. 
 13. Notice. All notices, requests, demands and other communications under this Agreement shall be in writing
and shall be deemed duly given (i) if delivered by hand and receipted for by the party addressee, on the date of such receipt, or (ii) if mailed by domestic certified or registered mail with postage prepaid, on the third
(3rd) business day after the date on which it is so mailed: 
 (a) If to Indemnitee, at the address indicated on the
signature page of this Agreement, or such other address as Indemnitee shall provide in writing to the Company. 
 (b) If to the
Company to: 
 Kraton Performance Polymers, Inc. 
 Legal Department 
 15710 John F. Kennedy Blvd. 

Suite 300 

Houston, TX 77032 

14. Consent to Jurisdiction; Remedies of Indemnitee. The Company and Indemnitee each hereby irrevocably consent to the
jurisdiction of the courts of the State of Delaware for all purposes in connection with any action, suit or proceeding which arises out of or relates to this Agreement and agree that any action, suit or proceeding instituted under this Agreement
shall be brought only in the state courts of the State of Delaware. Any action, suit or proceeding brought by Indemnitee against the Company as set forth in Section 2(c) to determine whether Indemnitee is entitled to indemnification under this
Agreement shall be conducted in all respects as a de novo trial on the merits, and the Company shall be precluded from asserting that the procedures and presumptions of this Agreement are not valid, binding or enforceable and shall stipulate
that the Company is bound by all of the provisions of this Agreement. 

  
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 15. Choice of Law. This Agreement shall be governed by and its provisions construed in accordance
with the laws of the State of Delaware. 
 16. Modification. This Agreement terminates and supersedes that certain Indemnity Agreement by
and among Company and the Indemnitee dated as of June 4, 2010, which previous agreement shall no longer be of any force and effect. This Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter
hereof; provided, however, that notwithstanding any other provision of this Agreement, including, without limitation, Section 5(a), nothing herein shall be deemed to amend, modify or supersede the provisions of (i) that certain
Letter Agreement dated as of September 21, 2009 by and among J. P. Morgan Partners (BHCA), L.P. and the Company (fka Polymer Holdings LLC) together with certain of its affiliated entities as to “Advancement and Indemnification Rights”
(the “BHCA Letter Agreement”) and (ii) that certain Letter Agreement dated as of September 21, 2009 by and among TPG Capital, L.P. and the Company (fka Polymer Holdings LLC) together with certain of its affiliated entities as to
“Advancement and Indemnification Rights” (the TPG Letter Agreement,” and together with the BHCA Letter Agreement, the “Letter Agreements”), which Letter Agreements shall remain in full force and effect. All prior
negotiations, agreements and understandings between the parties with respect hereto are superseded hereby. This Agreement may not be modified or amended except by an instrument in writing signed by or on behalf of the parties hereto. 

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

					
	KRATON PERFORMANCE POLYMERS, INC.
			
	By:	 	 	 	 
		 	Name:	 	 
		 	Title:	 	 

 Agreed and accepted as of the date hereof: 

 

			
	INDEMNITEE
		
	By:	 	 
		
	 	 	 
	 	 	 
	 	 	 

 (address) 

  
 10Employment Agreement between Gregory Hopkins and Stream Global Services Inc

 Exhibit 10.6a 
 EMPLOYMENT AGREEMENT 
 THIS EMPLOYMENT AGREEMENT (the “Agreement”), made
as of June 27, 2011, is entered into by STREAM GLOBAL SERVICES, INC., a Delaware corporation, with its headquarters at 20 William Street, Wellesley, Massachusetts (the “Company”), and Gregory Hopkins (the “Executive”).

 The Company desires to employ the Executive, and the Executive desires to be employed by the Company. In consideration of the
mutual covenants and promises contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by the parties hereto, the parties agree as follows: 

1. Term of Employment. The Company hereby agrees to employ the Executive, and the Executive hereby accepts employment with the Company, upon the terms
set forth in this Agreement, for an initial term (the “Initial Term”) commencing on June 27, 2011 (the “Commencement Date”) and ending on the first anniversary of such date, which such term shall be extended for successive
terms of one year each unless either party terminates this Agreement by written notice to the other at least 30 days prior to the expiration of the initial or any extended term as applicable, or unless sooner terminated in accordance with the
provisions of Section 4 (such term, as it may be so extended or terminated, the “Employment Period”). 
 2. Title and Capacity.
The Executive shall serve as Executive Vice President – Global Sales. 
 The Executive hereby accepts such employment and
agrees to undertake the duties and responsibilities inherent in such positions and such other duties and responsibilities as are commensurate with the title of Executive Vice President – Global Sales or other duties as determined by the Chief
Executive Officer or the Board of Directors from time to time. The Executive agrees to devote his entire business time, attention and energies to the business and interests of the Company during the Employment Period. The Executive shall report
directly to the Chairman and Chief Executive Officer. The Executive agrees to abide by the rules, regulations, instructions, personnel practices and policies of the Company and any changes therein which may be adopted from time to time by the
Company. 

 3. Compensation and Benefits. 
 3.1 Salary. The Company shall pay the Executive, in twice-monthly installments, a base salary at the rate of $300,000 per annum (“Base Salary”) during the Employment Period. Such Base Salary may
be increased in the sole discretion of the Compensation Committee of the Board of Directors (the “Compensation Committee”). 
 3.2 Bonus/Sales Incentive Plan. Within 90 days following the end of each fiscal year during the Employment Period, the Company shall pay the Executive a bonus, consistent with the bonus targets set for
the other senior executives of the Company and based on and subject to the Company’s achievement of targeted operating results for such year as established under the Company’s Management Incentive Plan (“MIP”). The annual bonus
target (“bonus target”) will be 50% of the Executive’s Base Salary, based on achievement targets set by the Compensation Committee of the Board of Directors and shall be similar to those targets set for other senior executives of the
Company. 
 In addition, the Executive shall be eligible to receive sales incentive payments in a target amount of 50% of his
Base Salary, determined by achievement of certain objectives set by the Compensation Committee of the Board of Directors from time to time, to be paid on an annual basis, and shall be set forth in a sales incentive plan established by the
Board’s Compensation Committee (“SIP”). 
 The terms of the MIP and SIP shall govern all aspects of eligibility
for and payment of commissions except as specifically provided herein. In addition, such payments under the MIP and/or SIP shall be made by March 15 in the year following the calendar year in which the services giving rise to such
bonus/awards/commissions were performed. The Executive must be an active and current employee of the Company on the date payments under the MIP and/or SIP are paid in order to be eligible to receive such payments. 

  
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 With respect to the Executive’s employment for the partial year in 2011, any
bonus/sales incentives earned due to the Company’s achievement of such targets shall be paid on a pro rata basis to the Executive for the period of employment at such time as annual incentive payments are made to other employees so long as the
Executive remains employed by the Company at the time of payment. 
 3.3 Stock Options. The Executive shall be granted 350,000
stock options under the Company’s 2008 Stock Equity Plan, subject to approval by the Compensation Committee. One Hundred Seventy-Five Thousand (175,000) of the stock options shall have a strike price of the greater of (i) $6.00 per
share and (ii) the stock price as quoted on the NYSE AMEX (“SGS”) at market close on the first Tuesday in the month following the first day of the Executive’s employment with the Company (“the Six Dollar Options”) and
One Hundred Seventy-Five (175,000) of the stock options shall have a strike price of the greater of (i) $4.25 per share and (ii) the stock price as quoted on the American Stock Exchange (“SGS”) at market close on the first
Tuesday in the month following the first day of the Executive’s employment with the Company (the “Four Twenty Five Options”); however, in no event shall the strike price per share be less than the fair market value of a share of stock
on the date of grant. Assuming continued employment or as otherwise provided herein, the stock options shall vest over a five (5) year period with a portion vesting in equal amounts every six months for each of the Six Dollar Options and the
Four Twenty Five Options, as described in the applicable award agreement. 
 3.4 Tax Preparation and Insurance. During the
Employment Period, the Company shall reimburse the Executive for the reasonable costs (not to exceed $10,000 per year, pro rated for partial years and evidenced by actual invoices presented to the Company) of (i) a tax consultant to assist the
Executive or his estate in the preparation of tax returns and tax planning and for other estate planning related costs incurred and (ii) premiums on life insurance policies obtained by the Executive. Executive must submit appropriate
documentation for each year’s reimbursements in sufficient time so that the Company may reimburse Executive for a year’s expenses under this Section 3.4 on or before March 15 of the year following the year for which the expense
is allowable. Any amounts so reimbursed shall not be refundable to the Company once paid in the event that the Executive’s employment is subsequently terminated for any reason. 

  
 3 

 3.5 Other Benefits. The Executive shall be entitled to participate in all benefit programs
that the Company establishes and makes available to its executives and/or other employees, if any, to the extent that the Executive’s position, tenure, salary, age, health and other qualifications make him eligible to participate. Such
participation shall be subject to (i) the terms of the applicable plan documents, (ii) generally applicable Company policies and (iii) the discretion of the Board or any administrative or other committee provided for in or
contemplated by such plan. The Executive shall be entitled to four (4) weeks paid vacation per year (pro rated for any part year of employment) and accruing ratably over the year. Up to 40 hours of unused vacation time accrued by the Executive
at the end of any fiscal year shall be carried over to the next year. Any unused vacation accrued at year end in excess of 40 hours shall be forfeited. 
 3.6 Reimbursement of Expenses. The Company shall reimburse the Executive for all reasonable travel, entertainment, mobile telephone and PDA expenses and other expenses incurred or paid by the Executive in
connection with, or related to, the performance of his duties, responsibilities or services under his Agreement, upon presentation by the Executive of documentation, expense statements, vouchers and/or such other supporting information as the
Company may request. 
 3.7 Indemnification. The Company hereby agrees to hold harmless and indemnify the Executive to the
fullest extent permitted by the General Corporation Law of the State of Delaware, as it may be amended after the date hereof. The obligation of the Company under this Section 3.7 shall survive any termination of this Agreement. 

4. Employment Termination. The employment of the Executive by the Company pursuant to this Agreement shall terminate upon the occurrence of any of the
following: 
 4.1 Non-Renewal. The election of either the Company or the Executive not to extend the Employment Period pursuant
to Section 1 upon the expiration of the initial or any renewal term; 

  
 4 

 4.2 Cause. At the election of the Company, for Cause, immediately upon written notice by the
Company to the Executive. For the purposes of this Section 4.2, “Cause” shall mean (a) any failure (including as a result of death) of the Executive to take or refrain from taking any corporate action consistent with his duties
as Executive Vice President – Global Sales as specified in written directions of the Chief Executive Officer or the Board of Directors, (b) the Executive’s willful engagement in illegal conduct or gross misconduct that is injurious to
the Company, (c) the conviction of the Executive of, or the entry of a pleading of guilty or nolo contendere by the Executive to, any crime involving moral turpitude or any felony; (d) fraud upon the Company including, without limitation,
falsification of Company records or financial information; and (e) the Executive’s breach of any of the non-compete, non-solicitation, and proprietary information provisions of his Agreement. 

4.3 Good Reason. The Executive may terminate his employment for Good Reason. “Good Reason” shall mean the occurrence, without
the Executive’s prior written consent, of any of the events or circumstances set forth in clauses (a) through (c) below; provided, however, that a termination for Good Reason by the Executive can only occur if (i) the Executive
has given the Company a written notice of termination indicating the existence of a condition giving rise to Good Reason and the Company has not cured the condition giving rise to Good Reason within 30 days after receipt of such notice of
termination, and (ii) such notice of termination is given within 60 days after the initial occurrence of the condition giving rise to Good Reason and termination for Good Reason occurs within 180 days after such initial occurrence of the
condition giving rise to Good Reason: 
  

	 	(a)	a material diminution in Executive’s rate of Base Salary; 

  

	 	(b)	a material diminution in Executive’s authority, duties, or responsibilities; or 

 

	 	(c)	a material breach by the Company of this Agreement. 

  
 5 

 4.4 Disability. The Executive’s employment may be terminated by reason of his
Disability. As used in this Agreement, the term “Disability” shall mean the inability of the Executive, due to a physical or mental disability, for a period of 90 days, whether or not consecutive, during any 365-day period to perform the
services contemplated under his Agreement. A determination of Disability shall be made by a physician satisfactory to both the Executive and the Company; provided that if the Executive and the Company do not agree on a physician, the Executive and
the Company shall each select a physician and the two physicians together shall select a third physician, whose determination as to Disability shall be binding on all parties. Termination as a result of Disability will be treated as a voluntary
termination by the Executive without Good Reason as described in Section 4.6 of this Agreement. 
 4.5 Without Cause. The
Company may terminate the employment of the Executive at any time, without Cause, upon 30 days’ prior written notice to the Executive or may pay the Executive salary for such 30 day period in lieu of notice (subject to any required delays under
Section 10(a)(iii) of this Agreement), and the Executive will be due the applicable benefits described in Section 5 of this Agreement. 
 4.6 Without Good Reason. The Executive may terminate his employment at any time, without Good Reason, upon 30 days’ prior written notice to the Company. If the Executive terminates his employment
pursuant to this Section 4.6, he shall not be eligible to receive any of the benefits described in Section 5.2 of this Agreement. 

5. Effect of Termination. 
 5.1
Base Salary, Etc. Upon the termination of the Executive’s employment pursuant to Section 4 hereof, the Company shall pay the Executive (i) the Base Salary payable to him under Section 3 through the last day of his actual
employment by the Company, (ii) any bonus for the immediately preceding fiscal year that is due and owed to the Executive that remains unpaid, and (iii) the value of any accrued but unused vacation accrued to the date of termination of
employment. 
 5.2 Additional Benefits. 
 (a)(i) If the employment of the Executive terminates (i) pursuant to Section 4.1 by reason of an election by the Company not to extend the Employment Period, (ii) by the 

  
 6 

 
Executive for Good Reason pursuant to Section 4.3, (iii) by the Company without Cause pursuant to Section 4.5 the Company shall, subject to the Executive’s compliance with
Section 5.2(c) below: (A) pay to the Executive, in equal bi-monthly (twice a month) installments in accordance with its normal payroll practices, over a one year period (the “One Year Continuation Period”), as compensation for
the Executive’s loss of employment, an aggregate amount equal to the total of one times the Base Salary in effect at the time of termination; and (B) continue health and dental benefits through COBRA for the Executive and his family at a
level commensurate with such benefits at the time of termination for a period of one year following such termination, and the Company shall pay an amount equivalent to the Company portion of health care premiums for the COBRA premiums for such
benefits until the earlier of one year after termination or such time as the Executive becomes eligible for substantially similar benefits from another employer, after which time the Executive will be eligible to receive the maximum benefits
permitted under COBRA less the number of months paid by the Company to be paid by the Executive. 
 (a)(ii) If, within 12 months
after a Change in Control that satisfies the requirements of Treas. Reg. § 1.409A-3(i)(5), the employment of the Executive terminates (i) pursuant to Section 4.1 by reason of an election by the Company not to extend the Employment
Period, (ii) by the Executive for Good Reason pursuant to Section 4.3, or (iii) by the Company without Cause pursuant to Section 4.5, the Company shall, in lieu of the payments and benefits otherwise to be provided under
Section 5.2(a)(i) and subject to the Executive’s compliance with Section 5.2(c) below: (A) pay to the Executive in equal bi-monthly (twice a month) installments in accordance with its normal payroll practices, over an 18 month
period (the “Continuation Period”), as compensation for the Executive’s loss of employment, an aggregate amount equal to 1.5 times the Base Salary in effect at the time of termination; (B) provide full vesting with respect to
Executive’s then outstanding unvested equity awards and such equity awards or instruments shall remain exercisable by the Executive for the 18 month period following termination (or if earlier, until the expiration of the option), provided that
the vesting shall not accelerate the distribution of shares underlying equity awards if such acceleration would trigger taxation under Section 409A(a)(1)(B); and (C) continue health and dental benefits through 

  
 7 

 
COBRA for the Executive and his family at a level commensurate with such benefits at the time of termination for an 18 month period following such termination and the Company shall pay the COBRA
premiums for such benefits during until the earlier of 18 months after termination or such time as the Executive becomes eligible for substantially similar benefits from another employer, after which time the Executive will be eligible to receive
the maximum benefits permitted under COBRA less the number of months paid by the Company to be paid by the Executive. 
 (b) If
the Executive terminates his employment without Good Reason, or his employment is terminated for Cause, the Company will, at the request of the Executive (or his estate), continue the Executive’s and his family’s health and dental benefits
commensurate with those in effect upon such termination for up to 18 months or such longer period as may be allowed by law or the applicable plan following such termination, and the Executive (or his estate) shall pay the premiums therefore in
accordance with COBRA. 
 (c) Executive will be paid the compensation and benefits in
Section 5.2(a)(i)(A) and (B) or 5.2(a)(ii)(A) and (C) ratably in accordance with regular payroll cycles of the Company commencing within 90 days following the date on which his employment ends. In order to receive such compensation
and benefits, the Executive must execute a separation agreement and release of claims in favor of the Company (on the form to be provided at such time by the Company, the “Release”), and it must become binding no later than 90 days
following the date his employment ends. After the Release becomes binding, he will be paid the compensation and benefits ratably in accordance with regular payroll cycles of the Company (starting with the first payroll period that begins after the
Release is binding), provided that the 90th day falls in
the calendar year following the year in which employment ends, the payments will begin no earlier than the first payroll period of such later calendar year. The first payroll payment will include a makeup payment for the portion of the severance
period that elapsed between the date when employment ended and the payroll period in which payments begin. The payments may be delayed by six months, as described in Section 10 of this Agreement. 

  
 8 

 5.3 No Mitigation. Following any termination of the Executive’s employment hereunder,
the Executive shall not be obligated to seek other employment or take any other action by way of mitigation of the amounts payable to the Executive under any of the provisions of his Agreement, and such amounts shall not be reduced whether or not
the Executive obtains other employment. 
 5.4 Entire Benefits, Etc. The obligation of the Company to make payments to the
Executive under this Section 5 of his Agreement is expressly conditioned upon the Executive’s continued full performance of his obligations under Sections 6 and 8 of this Agreement. The Executive recognizes that, except as expressly
provided in this Agreement, the Executive shall not be entitled to any other compensation or benefits from the Company following termination of his employment. 
 6. Non-Compete. 
 (a) For a period of 12 months (or 18 months in the case of a
change in control termination) after the termination of the Executive’s employment with the Company, the Executive will not: 
 (i) as an individual proprietor, partner, stockholder, officer, director, executive, director, investor, lender, or in any other capacity whatsoever (other than as the holder of not more than 1% of the
total outstanding stock of any publicly traded company or 5% of any privately held company and not in any other capacity), engage in any business throughout the world that competes with the business engaged in by the Company or any of its
subsidiaries at the time of the Executive’s termination; or 
 (ii) directly or indirectly recruit, solicit or hire any
person who is then, or within six months of the recruitment, solicitation or hiring, has been, an employee of the Company. 

  
 9 

 (b) Executive acknowledges and agrees that the Company’s business is global in nature
due to the types of products and services it provides and that it is reasonable for the Company to define the geographic location in the manner set forth above. Executive also acknowledges that the Company is in the business of providing business
process outsourcing services that include customer relationship management and other services. Notwithstanding that agreement, if this Section 6 is found by any court of competent jurisdiction to be unenforceable because it extends for too long
a period of time or over too great a range of activities or in too broad a geographic area, it shall be interpreted to extend only over the maximum period of time, range of activities or geographic area as to which it may be enforceable. 

(c) The restrictions contained in this Section 6 and in Section 8 are necessary for the protection of the business and goodwill
of the Company and are considered by the Executive to be reasonable for such purpose. The Executive agrees that any breach of this Section 6 or Section 8 will cause the Company substantial and irrevocable damage and therefore, in the event
of any such breach, in addition to such other remedies which may be available, the Company shall have the right to seek specific performance and injunctive relief. 
 7. Change in Control means an event or occurrence set forth in any one or more of subsections (a) through (d) below, however a Change in Control shall be deemed not to occur for the purposes of
this Agreement if there would otherwise be a Change of Control, but the transaction triggering such Change of Control results in the current Chairman and Chief Executive Officer of the Company being appointed as the Chairman and Chief Executive
Officer of the surviving company and remaining in that role for at least 12 months following such appointment: 
 (a) the
acquisition by an individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) (a “Person”) of beneficial ownership of any capital stock
of the Company if, after such acquisition, such Person beneficially owns (within the meaning of Rule 13d-3 promulgated under the Exchange Act) 50% or more of either (x) the then-outstanding shares of common stock of the Company (the
“Outstanding Company Common Stock”) or (y) the combined voting power of the then-outstanding securities of the Company entitled to vote generally in the election of directors 

  
 10 

 
(the “Outstanding Company Voting Securities”); provided, however, that for purposes of this subsection (a) or (d), the following acquisitions shall not constitute a Change in
Control: (i) any acquisition directly from the Company (excluding an acquisition pursuant to the exercise, conversion or exchange of any security exercisable for, convertible into or exchangeable for common stock or voting securities of the
Company, unless the Person exercising, converting or exchanging such security acquired such security directly from the Company or an underwriter or agent of the Company), (ii) any acquisition by the Company, (iii) any acquisition by any
employee benefit plan (or related trust) sponsored or maintained by the Company or any corporation controlled by the Company, or (iv) any acquisition of securities of the Company by Ares Management LLP (“Ares”), Providence Equity
Partners LLP, or Ayala Corporation or any other affiliate who holds greater than 20% of the outstanding equity of the Company and has representative as a member of the Board of Directors just prior to the Change in Control; or any affiliate thereof,
including, without limitation, any investment fund, investment partnership, investment account or other investment person whose investment manager, investment advisor, managing member or general partner, is related to Ares or Providence Equity
Partners or Ayala Corporation or any member, partner, director, officer or employee of such investment manager, investment advisor, managing member or general partner of Ares, Providence Equity Partners LLP or Ayala Corporation or their affiliates
or any other affiliate who holds greater than 20% of the outstanding equity of the Company and has one or more representatives as a member of the Board of Directors just prior to the Change in Control. 

(b) the consummation of a merger, consolidation, reorganization, recapitalization or statutory share exchange involving the Company or a
sale or other disposition of all or substantially all of the assets of the Company in one or a series of transactions (a “Business Combination”), unless, immediately following such Business Combination, all or substantially all of the
individuals and entities who were the beneficial owners of the Outstanding Company Common Stock and Outstanding Company Voting Securities immediately prior to such Business Combination beneficially own, directly or indirectly, more than 35% of the
then-outstanding shares of common stock and the combined voting power of the then-outstanding securities entitled to vote generally in the election of directors, respectively, of the resulting or acquiring 

  
 11 

 
corporation in such Business Combination (which shall include, without limitation, a corporation which as a result of such transaction owns the Company or substantially all of the Company’s
assets either directly or through one or more subsidiaries) in substantially the same proportions as their ownership, immediately prior to such Business Combination, of the Outstanding Company Common Stock and Outstanding Company Voting Securities,
respectively; or 
 (c) approval by the stockholders of the Company of a complete liquidation or dissolution of the Company.

 8. Proprietary Information. 
 (a) Executive agrees that all information and know-how, whether or not in writing, of a private, secret or confidential nature concerning the Company’s business or financial affairs (collectively,
“Proprietary Information”) is and shall be the exclusive property of the Company. By way of illustration, but not limitation, Proprietary Information may include inventions, products, technologies, web based portals or internet algorithms,
processes, methods, techniques, formulas, compositions, compounds, projects, developments, plans, research data, financial data, personnel data, computer programs, and customer and supplier lists. Executive will not disclose any Proprietary
Information to others outside the Company or use the same for any unauthorized purposes without written approval by the Chief Executive Officer of the Company, either during or after his employment, unless and until such Proprietary Information has
become public knowledge without fault by the Executive, provided, however, that nothing herein shall prevent the Executive from disclosing Proprietary Information to another party, in the ordinary course of business, pursuant to a non-disclosure
agreement between the Company and such other party. 
 (b) Executive agrees that all files, technology, patents, copyrights,
letters, memoranda, reports, articles, books, records, data, web-based analyses or reports, sketches, drawings, laboratory notebooks, program listings, or other written, photographic, or other tangible material containing Proprietary Information,
whether created by the Executive or others, which shall come into his custody or possession, shall be and are the exclusive property of the Company to be used by the Executive only in the performance of his duties for the Company. 

  
 12 

 (c) Executive agrees that his obligation not to disclose or use information, know-how and
records of the types set forth in paragraphs (a) and (b) above, also extends to such types of information, know-how, records and tangible property of customers of the Company, customers or suppliers to the Company or other third parties
who may have disclosed or entrusted the same to the Company or to the Executive in the course of the Company’s business. 
 9.
Intentionally left blank 
 10. Section 409A. 
 (a) Subject to this Section 10, payments or benefits under Section 5 shall begin only upon the date of a “separation from service” of the Executive (determined as set forth below)
which occurs on or after the termination of the Executive’s employment. The following rules shall apply with respect to distribution of the payments and benefits, if any, to be provided to the Executive under Section 5, as applicable:

 (i) It is intended that each installment of the payments and benefits provided under Section 5 shall be treated as a
separate “payment” for purposes of Section 409A of the Code and the guidance issued thereunder (“Section 409A”). Neither the Company nor the Executive shall have the right to accelerate or defer the delivery of any such
payments or benefits except to the extent specifically permitted or required by Section 409A. 
 (ii) If, as of the date of
the “separation from service” of the Executive from the Company, the Executive is not a “specified employee” (within the meaning of Section 409A), then each installment of the payments and benefits shall be made on the dates
and terms set forth in Section 5. 
 (iii) If, as of the date of the “separation from service” of the Executive
from the Company, the Executive is a “specified employee” (within the meaning of Section 409A), then: 

  
 13 

 (1) Each installment of the payments and benefits due under
Section 5 that, in accordance with the dates and terms set forth herein, will in all circumstances, regardless of when the separation from service occurs, be paid within the Short-Term Deferral Period (as hereinafter defined) shall be treated
as a short-term deferral within the meaning of Treasury Regulation Section 1.409A-1(b)(4) to the maximum extent permissible under Section 409A. For purposes of his Agreement, the “Short-Term Deferral Period” means the period
ending on the later of the 15th day of the third month
following the end of the Executive’s tax year in which the separation from service occurs and the 15th day of the third month following the end of the Company’s tax year in which the separation from service occurs; and 
 (2) Each installment of the payments and benefits due under Section 5 that is not described in Section 10(a)(iii)(1) and that would, absent this subsection, be paid within the six-month period
following the “separation from service” of the Executive from the Company shall not be paid until the date that is six months and one day after such separation from service (or, if earlier, the Executive’s death), with any such
installments that are required to be delayed being accumulated during the six-month period and paid in a lump sum on the date that is six months and one day following the Executive’s separation from service and any subsequent installments, if
any, being paid in accordance with the dates and terms set forth herein; provided, however, that the preceding provisions of this sentence shall not apply to any installment of payments and benefits if and to the maximum extent that that such
installment is deemed to be paid under a separation pay plan that does not provide for a deferral of compensation by reason of the application of Treasury Regulation 1.409A-1(b)(9)(iii) (relating to separation pay upon an involuntary separation from
service). Any installments that qualify for the exception under Treasury Regulation Section 1.409A-1(b)(9)(iii) must be paid no later than the last day of the Executive’s second taxable year following the taxable year in which the
separation from service occurs. 
 (b) The determination of whether and when a separation from service of the Executive from the
Company has occurred shall be made and in a manner consistent with, and based on the presumptions set forth in, Treasury Regulation Section 1.409A-1(h). Solely for purposes of this Section 10, “Company” shall include all persons
with whom the Company would be considered a single employer under Section 414(b) and 414(c) of the Code. 

  
 14 

 (c) All reimbursements and in-kind benefits provided under this Agreement shall be made or
provided in accordance with the requirements of Section 409A to the extent that such reimbursements or in-kind benefits are subject to Section 409A. The Company will pay or reimburse business expenses in accordance with its policies but,
assuming proper substantiation, no later than the last day of the calendar year following the calendar year in which the relevant expense was incurred. This Section 9(c) will, among other sections, apply to payments and reimbursements of
expenses under Sections 3.4, 3.5, 3.6, 3.7, and 5. 
 (d) The parties agree that if any provision of this Agreement would
subject Executive to any additional tax or interest under Section 409A, the parties will cooperate to reform such provision and that the Company may reform any such provision unilaterally, provided, that in the event of any such unilateral
reform by the Company, the Company shall (x) maintain, to the maximum extent practicable, the original intent of the applicable provision without subjecting Executive to such additional tax or interest and (y) not incur any additional
compensation expense as a result of such reformation. Notwithstanding the foregoing, to the extent that this Agreement or any payment or benefit hereunder is determined not to comply with Section 409A, then neither the Company, its Board,
nor any of its designees, agents, or employees will be liable to the Executive or any other person for any actions, decisions, or determinations made under the Agreement or for any resulting adverse tax consequences. 

11. Notices. All notices required or permitted under this Agreement shall be in writing and shall be deemed effective upon personal delivery or upon
deposit in the United States Post Office, by registered or certified mail, postage prepaid, addressed, in the case of the Company, to the address shown above or its most current corporate headquarters address to the attention of the Chief Executive
Officer, or, in the case of the Executive, his most recent known address as disclosed to the Company or other such address as he so discloses to the Company, or at such other address or addresses as either party shall designate to the other in
accordance with this Section 11. 

  
 15 

 12. Withholding. All payments made by the Company under this Agreement shall be reduced by any tax or other
amounts required to be withheld by the Company under applicable law. 
 13. Entire Agreement. This Agreement, together with any other agreement
and instruments referred to herein, constitutes the entire agreement between the parties and supersedes all prior agreements and understandings, whether written or oral, relating to the subject matter of this Agreement. 

14. Amendment. This Agreement may be amended or modified only by a written instrument executed by both the Company and the Executive. 

15. Governing Law. This Agreement shall be construed, interpreted and enforced in accordance with the laws of the Commonwealth of Massachusetts.

 16. Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of both parties and their respective successors and
assigns, including any Company with which or into which the Company may be merged or which may succeed to its assets or business; provided, however, that the obligations of the Executive are personal and shall not be assigned by him. 

17. Miscellaneous. 
 17.1 No
delay or omission by the Company in exercising any right under this Agreement shall operate as a waiver of that or any other right. A waiver or consent given by the Company on any one occasion shall be effective only in that instance and shall not
be construed as a bar or waiver of any right on any other occasion. 
 17.2 The captions of the sections of this Agreement are
for convenience of reference only and in no way define, limit or affect the scope or substance of any section of this Agreement. 

  
 16 

 17.3 In case any provision of this Agreement shall be invalid, illegal or otherwise
unenforceable, the validity, legality and enforceability of the remaining provisions shall in no way be affected or impaired thereby. 
 [Remainder of the Page Intentionally Left Blank] 

  
 17 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year
set forth above. 
  

			
	 STREAM GLOBAL SERVICES, INC.

		
	By:	 	/s/ Kathryn V. Marinello
	Name:	 	Kathryn V. Marinello
	 Title:
	 	Chairman & CEO
	
	 EXECUTIVE:

		
	 By:
	 	/s/ Gregory Hopkins
	 Name:
	 	Gregory Hopkins

  
 18

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