Document:

Exhibit 10.21

 Exhibit 10.21 

MacDERMID, INCORPORATED EMPLOYEES’ PENSION PLAN 

THIRD AMENDMENT 
 to
Amended and Restated Plan 
 WHEREAS, MacDermid, Incorporated, a corporation organized under the laws of the State of Connecticut (the
“Corporation”), adopted the MacDermid, Incorporated Employees’ Pension Plan (the “Plan”) effective April 1, 1976, and most recently restated the Plan effective generally January 1, 2009; and 

WHEREAS, Article X of the Plan reserves to the Corporation the right to amend the Plan; and 

WHEREAS, the Corporation amended the Plan most recently by adoption of the Second Amendment on October 30, 2012; and 

WHEREAS, the Company entered into an agreement with Platform Acquisition Holdings Limited (“PAHL”) and certain other parties dated
as of October 10, 2013 pursuant to which, among other things, PAHL agreed to purchase the business and operations of the Company (the “Business Combination Agreement”) and the closing of the transactions contemplated by the Business
Combination Agreement occurred on October 31, 2013; and 
 WHEREAS, the Corporation now desires to amend the Plan further to, effective
December 31, 2013, (i) cease the admission of new participants into the Plan, (ii) create a class of participants (“Grandfathered Participants”) consisting of each active participant as of December 31, 2013 who is
credited with at least five years of service as of such date provided the sum of such participant’s age and years of credited service is not less than 50, (iii) cease accrual of additional benefits by Non-Grandfathered Participants,
(iv) cease additions to Credited Service after December 31, 2013 by Grandfathered Participants, and (v) make certain technical changes in accordance with guidance issued by the U.S. Internal Revenue Service (the “IRS”)
relating to the Pension Protection Act of 2006, including without limitation IRS Notice 2011-96; 
 NOW, THEREFORE, the Plan is amended
effective December 31, 2013, as follows: 
 1. Section 2.1 is amended by inserting, immediately after the first (and only)
sentence thereof the following: 
 “Notwithstanding the foregoing, (i) a Non-Grandfathered Participant’s Accrued Benefit shall
be frozen as of December 31, 2013 and accrual of additional benefits under the Plan shall cease as of such date, and (ii) a Grandfathered Participant’s Credited Service shall be frozen as of December 31, 2013. In no event shall a
Non-Grandfathered Participant’s Average Monthly Compensation, Covered Compensation, Final Average Compensation, Credited Service or other applicable components of the Plan benefit formulae be determined based on compensation (including
Compensation) or service (including Hours of Service) attributable to any period after December 31, 2013.” 

 2. Section 2.8 is amended by inserting immediately after the final sentence thereof the
following: 
 “Notwithstanding any provision of the Plan to the contrary, a Non-Grandfathered Participant’s Average Monthly
Compensation shall be determined as of December 31, 2013 or as of his earlier separation from service, and in computing any benefit on or after December 31, 2013, the Average Monthly Compensation of a Non-Grandfathered Participant shall be
his Average Monthly Compensation determined as of December 31, 2013.” 
 3. Section 2.13 is amended by inserting immediately
after the final sentence thereof the following: 
 “Notwithstanding any provision of the Plan to the contrary, compensation paid for
services rendered by a Non-Grandfathered Participant (or to which a Non-Grandfathered Participant is otherwise entitled or credited for any other reason, including paid leave) with respect to any period after December 31, 2013 shall be
disregarded in determining a Non-Grandfathered Participant’s “Compensation” for purposes of the Plan, and no compensation shall be imputed for such purpose with respect to any period.” 

4. Section 2.15 is amended by deleting the period at the end of the first (and only) sentence thereof and inserting in lieu thereof the
following: “or, with respect to Non-Grandfathered Participants, December 31, 2013, if earlier.” 
 5. Section 2.16 is
amended as follows: 
 (i) by deleting from clause (b) the word “Solely” and inserting in lieu thereof the
following: “Subject to clause (g) of this Section 2.16, solely ....”; 
 (ii) by inserting immediately
after clause (f) thereof the following: 
 “(g) Notwithstanding any provision of the Plan to the contrary, in no event shall any
service attributable to any period after December 31, 2013 be considered for purposes of determining Credited Service under this Section 2.16.” 

6. Section 2.22 is amended by inserting immediately after the final sentence thereof the following: 

“Notwithstanding any provision of the Plan to the contrary, compensation for Plan Years commencing on or after January 1, 2014 shall
be disregarded for purposes of determining a Non-Grandfathered Participant’s benefit under the Plan.” 

  
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 7. Article II is amended as follows: 

(i) by inserting immediately after Section 2.23 the following new Section: 

“ ‘Grandfathered Participant’ means each Participant employed by the Company on December 31, 2013 provided that, as at
such date, (i) such Participant is credited with at least five years of Credited Service and (ii) the sum of such Participant’s age and years of Credited service as of December 31, 2013 must equal or exceed fifty (50).”;

 (ii) by amending Section 2.25 to insert immediately after clause (f) thereof the following: 

“(g) Notwithstanding any provision of the Plan to the contrary, in no event shall any service attributable to any period after
December 31, 2013 be considered for purposes of determining Hours of Service.”; and 
 (iii) by inserting
immediately after Section 2.25 the following new Section: 
 “ ‘Non-Grandfathered Participant’ means each Participant
who is not a Grandfathered Participant.” 
 8. Section 2.32 is amended by inserting immediately after the final sentence thereof
the following: 
 “With respect to a Non-Grandfathered Participant in service on December 31, 2013, the Social Security Taxable
Wage Base shall be determined as of December 31, 2013 to reflect the suspension of accruals as of that date.” 
 9.
Section 2.37 is amended by inserting immediately after clause (g) thereof the following: 
 “(h) Notwithstanding any provision
of the Plan to the contrary, a Participant’s Years of Service and Vesting Service shall be determined as of December 31, 2013 and no service rendered thereafter shall be recognized for any purpose under the Plan, including without
limitation, for purposes of determining the amount of a Participant’s benefit, except to the extent required otherwise by applicable law, including without limitation Section 411 of the Code.” 

10. Article II is hereby amended by redesignating the sections of Article II in sequential order consistent with the foregoing. 

11. Section 3.3 is amended by inserting immediately after the third (and final) sentence thereof the following: “Notwithstanding the
foregoing, no former Participant who is reemployed by the Company after the forfeiture or distribution in full of such former Participant’s benefit under the Plan shall be eligible to become a Participant upon reemployment if such reemployment
date is on or after January 1, 2014.” 

  
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 12. Article III is amended by inserting immediately after Section 3.4 the following new
Section: 
 “3.5 Cessation of New Entrants after December 31, 2013. Notwithstanding any provision of the Plan to the
contrary, no individual who is not a Participant in the Plan as of December 31, 2013 shall be eligible to become a Participant thereafter.” 

13. Section 6.1 is amended by inserting immediately after clause (b) the following new clause: 

“(c) Notwithstanding any provision of the Plan to the contrary, in no event shall a Non-Grandfathered Participant’s Average Monthly
Compensation, Covered Compensation, Final Average Compensation, Credited Compensation or other applicable components of the formulae for determining a Participant’s benefit under this Section 6.1 be based on compensation earned by or
otherwise credited to such Participant or service rendered by or otherwise credited to such Participant with respect to any period after December 31, 2013.” 

14. Section 6.2 is amended by inserting immediately after the final sentence thereof the following new clause: 

“(c) Notwithstanding any provision of the Plan to the contrary, in no event will the benefit to which a Non-Grandfathered Participant is
entitled under this Section 6.2 be increased based on compensation earned or service rendered by such Participant with respect to any period after December 31, 2013.” 

15. Section 6.3 is amended by inserting immediately after the final sentence thereof the following new paragraph: 

“Notwithstanding any provision of the Plan to the contrary, in no event will the benefit to which a Non-Grandfathered Participant is
entitled under this Section 6.3 be increased based on compensation earned or service rendered by such Participant with respect to any period after December 31, 2013.” 

16. Section 6.4 is amended by inserting immediately after the final sentence thereof the following new sentence: “Notwithstanding
any provision of the Plan to the contrary, in no event will the benefit to which a Non-Grandfathered Participant is entitled under this Section 6.4 be increased based on compensation earned or service rendered by such Participant with respect
to any period after December 31, 2013.” 
 17. Article 6 is amended by adding a new Section 6.27 to read as follows: 

“6.27 Freeze of Benefit Accruals 

Notwithstanding any provision of the Plan to the contrary, for purposes of determining the rights and benefits of any Non-Grandfathered
Participant (or beneficiary) under the Plan including, without limitation, such Non-Grandfathered Participant’s Accrued Benefit, Participant’s Average Monthly Compensation, Covered Compensation, Final Average Compensation, Hours of
Service, Credited Service, compensation earned 

  
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or to which an individual is otherwise entitled and service rendered by or otherwise credited to an individual with respect to any period after December 31, 2013 shall be disregarded.
Without limiting the foregoing, a Non-Grandfathered Participant’s benefit under this Plan (including any benefit payable on behalf of or with respect to a Participant) shall be determined as if such Non-Grandfathered Participant separated from
service effective December 31, 2013. Notwithstanding any provision of the Plan to the contrary, for purposes of determining the Credited Service or Years of Service of any Grandfathered Participant (or beneficiary) under the Plan service
rendered by or otherwise credited to an individual with respect to any period after December 31, 2013 shall be disregarded.” 

18. Effective for Plan Years beginning after December 31, 2007, Article VIII is amended by inserting immediately after Section 8.2
the following new section: 
 “8.3 Limitations applicable if the Plan’s Adjusted Funding Target Attainment Percentage is
less than 80 percent or if the Company is in Bankruptcy. (1) Notwithstanding any other provision of the Plan to the contrary, if the Plan’s adjusted funding target attainment percentage for a Plan Year is less than 80 percent (or would
be less than 80 percent to the extent described in Section 8.3(1)(b) below) but is not less than 60 percent, then the limitations set forth in this Section 8.3(1) shall apply. 

 

	 	(a)	50 Percent Limitation on Single Sum Payments, Other Accelerated Forms of Distribution, and Other Prohibited Payments. A Participant or beneficiary is not permitted to elect, and the Plan shall not pay, an
optional form of benefit that includes a prohibited payment with an Annuity Starting Date on or after the applicable Section 436 measurement date, and the Plan shall not make any payment for the purchase of an irrevocable commitment from an
insurer to pay benefits or any other payment or transfer that is a prohibited payment, unless the present value of the portion of the benefit that is being paid in a prohibited payment does not exceed the lesser of: 

 

	 	(i)	50 percent of the present value of the benefit payable in the optional form of benefit that includes the prohibited payment; or 

  

	 	(ii)	100 percent of the PBGC maximum benefit guarantee amount (as defined in Treasury Regulation Sec. 1.436-1(d)(3)(iii)(C)). 

The limitation set forth in this Section 8.3(1)(a) does not apply to any payment of a benefit which under Section 411(a)(11) of the
Code may be immediately distributed without the consent of the Participant. If an optional form of benefit that is otherwise available under the terms of the Plan is not available to a Participant or beneficiary as of the Annuity Starting Date
because of the application of the requirements of this Section 8.3(1)(a), the Participant or beneficiary is permitted to elect to bifurcate the benefit into unrestricted and restricted portions (as described in Treasury Regulation
Section 1.436-1(d)(3)(iii)(D)). The Participant or beneficiary may also elect any other optional 

  
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form of benefit otherwise available under the Plan at that Annuity Starting Date that would satisfy the 50 percent/PBGC maximum benefit guarantee amount limitation described in this
Section 8.3(1)(a), or may elect to defer the benefit in accordance with any general right to defer commencement of benefits under the Plan. 
  

	 	(b)	Plan Amendments Increasing Liability for Benefits. No amendment to the Plan that has the effect of increasing liabilities of the Plan by reason of increases in benefits, establishment of new benefits, changing
the rate of benefit accrual, or changing the rate at which benefits become nonforfeitable shall take effect in a Plan Year if the adjusted funding target attainment percentage for the Plan Year is: 

 

	 	(i)	Less than 80 percent; or 

  

	 	(ii)	80 percent or more, but would be less than 80 percent if the benefits attributable to the amendment were taken into account in determining the adjusted funding target attainment percentage. 

The limitation set forth in this Section 8.3(1)(b) does not apply to any amendment to the Plan that provides a benefit increase under a
Plan formula that is not based on Compensation, provided that the rate of such increase does not exceed the contemporaneous rate of increase in the average wages of Participants covered by the amendment. 

(2) Limitations Applicable If the Plan’s Adjusted Funding Target Attainment Percentage Is Less Than 60 Percent. Notwithstanding any
other provisions of the Plan, if the Plan’s adjusted funding target attainment percentage for a Plan Year is less than 60 percent (or would be less than 60 percent to the extent described in Section 8.3(2)(b) below), then the limitations
in this Section 8.3(2) apply. 
  

	 	(a)	Single Sums, Other Accelerated Forms of Distribution, and Other Prohibited Payments Not Permitted. A Participant or beneficiary is not permitted to elect, and the Plan shall not pay, an optional form of benefit
that includes a prohibited payment with an Annuity Starting Date on or after the applicable Code Section 436 measurement date, and the Plan shall not make any payment for the purchase of an irrevocable commitment from an insurer to pay benefits
or any other payment or transfer that is a prohibited payment. The limitation set forth in this Section 8.3(2)(a) does not apply to any payment of a benefit which under Section 411(a)(11) of the Code may be immediately distributed without
the consent of the Participant. 

  

	 	(b)	Shutdown Benefits and Other Unpredictable Contingent Event Benefits Not Permitted to Be Paid. An unpredictable contingent event benefit with respect to an unpredictable contingent event occurring during a Plan
Year shall not be paid if the adjusted funding target attainment percentage for the Plan Year is: 

  

	 	(i)	Less than 60 percent; or 

  
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	 	(ii)	60 percent or more, but would be less than 60 percent if the adjusted funding target attainment percentage were redetermined applying an actuarial assumption that the likelihood of occurrence of the unpredictable
contingent event during the plan year is 100 percent. 

  

	 	(c)	Benefit Accruals Frozen. Benefit accruals under the Plan shall cease as of the applicable Code Section 436 measurement date. In addition, if the Plan is required to cease benefit accruals under this
Section 8.3(2)(c), then the Plan is not permitted to be amended in a manner that would increase the liabilities of the Plan by reason of an increase in benefits or establishment of new benefits. 

(3) Limitations Applicable If the Company Is In Bankruptcy. Notwithstanding any other provisions of the Plan, a Participant or
beneficiary is not permitted to elect, and the plan shall not pay, an optional form of benefit that includes a prohibited payment with an Annuity Starting Date that occurs during any period in which the Company is a debtor in a case under title 11,
United States Code, or similar Federal or State law, except for payments made within a Plan Year with an Annuity Starting Date that occurs on or after the date on which the Plan’s enrolled actuary certifies that the Plan’s adjusted funding
target attainment percentage for that Plan Year is not less than 100 percent. In addition, during such period in which the Company is a debtor, the Plan shall not make any payment for the purchase of an irrevocable commitment from an insurer to pay
benefits or any other payment or transfer that is a prohibited payment, except for payments that occur on a date within a Plan Year that is on or after the date on which the Plan’s enrolled actuary certifies that the Plan’s adjusted
funding target attainment percentage for that Plan Year is not less than 100 percent. The limitation set forth in this Section 8.3(3) does not apply to any payment of a benefit which under Section 411(a)(11) of the Code may be immediately
distributed without the consent of the Participant. 
 (4) Provisions Applicable After Limitations Cease to Apply. 

 

	 	(a)	Resumption of Prohibited Payments. If a limitation on prohibited payments under Section 8.3(1)(a), Section 8.3(2)(a), or Section 8.3(3) applied to the Plan as of a Code Section 436 measurement
date, but that limit no longer applies to the Plan as of a later Code Section 436 measurement date, then that limitation does not apply to benefits with Annuity Starting Dates that are on or after that later Code Section 436 measurement
date. 

  

	 	(b)	Resumption of Benefit Accruals. If a limitation on benefit accruals under Section 8.3(2)(c) applied to the Plan as of a Code Section 436 measurement date, but that limitation no longer applies to the
Plan as of a later Code Section 436 measurement date, then benefit accruals shall resume prospectively and that limitation does not apply to benefit accruals that are based on service on or after that later Code Section 436 measurement
date, except as otherwise provided under the Plan. The Plan shall comply with the rules relating to partial years of participation and the prohibition on double proration under Labor Regulation Section 2530.204-2(c) and (d). 

  
 - 7 - 

	 	(c)	Shutdown and Other Unpredictable Contingent Event Benefits. If an unpredictable contingent event benefit with respect to an unpredictable contingent event that occurs during the Plan Year is not permitted to be
paid after the occurrence of the event because of the limitation of Section 8.3(2)(b), but is permitted to be paid later in the same Plan Year (as a result of additional contributions or pursuant to the enrolled actuary’s certification of
the adjusted funding target attainment percentage for the Plan year that meets the requirements of Treasury Regulation Section 1.436-1(g)(5)(ii)(B)), then that unpredictable contingent event benefit shall be paid, retroactive to the period that
benefit would have been payable under the terms of the Plan (determined without regard to Section 8.3(2)(b)). If the unpredictable contingent event benefit does not become payable during the Plan Year in accordance with the preceding sentence,
then the Plan is treated as if it does not provide for that benefit. 

  

	 	(d)	Treatment of Plan Amendments That Do Not Take Effect. If a Plan amendment does not take effect as of the effective date of the amendment because of the limitation of Section 8.3(1)(b) or
Section 8.3(2)(c), but is permitted to take effect later in the same Plan Year (as a result of additional contributions or pursuant to the enrolled actuary’s certification of the adjusted funding target attainment percentage for the Plan
Year that meets the requirements of Treasury Regulation Section 1.436-1(g)(5)(ii)(C), then the Plan amendment must automatically take effect as of the first day of the Plan Year (or, if later, the original effective date of the amendment). If
the Plan amendment cannot take effect during the same Plan Year, then it shall be treated as if it were never adopted, unless the Plan amendment provides otherwise. 

(5) Notice Requirement. The Administrator shall provide written notice to participants and beneficiaries in accordance with
Section 101(j) of ERISA if the Plan has become subject to a limitation described in Section 8.3(1)(a), Section 8.3(2), or Section 8.3(3). 

(6) Methods to Avoid or Terminate Benefit Limitations. The application of the limitations set forth in Sections 1 through 3 may be
avoided or terminated for a Plan Year in accordance with the rules set forth in Sections 436(b)(2), (c)(2), (e)(2), and (f) of the Code and Treasury Regulation Section 1.436-1(f) and their successor provisions. 

(7) Special Rules. 
  

	 	(a)	Rules of Operation for Periods Prior to and After Certification of Plan’s Adjusted Funding Target Attainment Percentage. 

 

	 	(i)	 In General. Section 436(h) of the Code and Treasury Regulation Section 1.436-1(h) set forth a series of presumptions that apply
(1) before the Plan’s enrolled actuary issues a certification of the Plan’s adjusted funding target attainment percentage for the Plan Year and (2) if the Plan’s enrolled actuary does not issue a certification of the
Plan’s adjusted funding target attainment percentage for the Plan Year before the first day of the 10th month of the Plan 

  
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Year (or if the Plan’s enrolled actuary issues a range certification for the Plan Year pursuant to Treasury Regulation Section 1.436-1(h)(4)(ii) but does not issue a certification of
the specific adjusted funding target attainment percentage for the Plan by the last day of the Plan Year). For any period during which a presumption under Code Section 436(h) and Treasury Regulation Section 1.436-1(h) set forth in clauses
(ii) through (iv) below applies to the Plan, the limitations under Sections 8.3(1), 8.3(2) and 8.3(3) are applied to the Plan as if the adjusted funding target attainment percentage for the Plan Year were the presumed adjusted funding
target attainment percentage determined under the rules of Section 436(h) of the Code and Treasury Regulation Sections 1.436-1(h)(1), (2), or (3). 

  

	 	(ii)	Presumption of Continued Underfunding Beginning First Day of Plan Year. If a limitation under Section 8.3(1), 8.3(2), or 8.3(3) applied to the Plan on the last day of the preceding Plan Year, then,
commencing on the first day of the current Plan Year and continuing until the Plan’s enrolled actuary issues a certification of the adjusted funding target attainment percentage for the Plan for the current Plan Year, or, if earlier, the date
Section 8.3(7)(a)(iii) or Section 8.3(7)(a)(iv) applies to the Plan: 

  

	 	(1)	The adjusted funding target attainment percentage of the Plan for the current Plan Year is presumed to be the adjusted funding target attainment percentage in effect on the last day of the preceding Plan Year; and

  

	 	(2)	The first day of the current Plan Year is a Code Section 436 measurement date. 

  

	 	(iii)	Presumption of Underfunding Beginning First Day of 4th Month. If the Plan’s enrolled actuary has not issued a certification of the adjusted funding target attainment percentage for the Plan Year before the
first day of the 4th month of the Plan Year and the Plan’s adjusted funding target attainment percentage for the preceding Plan Year was either at least 60 percent but less than 70 percent or
at least 80 percent but less than 90 percent, or is described in Treasury Regulation Section 1.436-1(h)(2)(ii), then, commencing on the first day of the 4th month of the current Plan Year and
continuing until the Plan’s enrolled actuary issues a certification of the adjusted funding target attainment percentage for the Plan for the current Plan Year, or, if earlier, the date Section 8.3(7)(a)(iv) applies to the Plan:

  

	 	(1)	The adjusted funding target attainment percentage of the Plan for the current Plan Year is presumed to be the Plan’s adjusted funding target attainment percentage for the preceding Plan Year reduced by 10
percentage points; and 

  

	 	(2)	The first day of the 4th month of the current Plan Year is a Code Section 436 measurement date. 

  
 - 9 - 

	 	(iv)	Presumption of Underfunding On and After First Day of 10th Month. If the Plan’s enrolled actuary has not issued a certification of the adjusted funding target attainment percentage for the Plan Year before
the first day of the 10th month of the Plan Year (or if the Plan’s enrolled actuary has issued a range certification for the Plan Year pursuant to Treasury Regulation Section 1.436-1(h)(4)(ii) but has not issued a certification of the
specific adjusted funding target attainment percentage for the Plan by the last day of the Plan Year), then, commencing on the first day of the 10th month of the current Plan Year and continuing through the end of the Plan Year: 

 

	 	(1)	The adjusted funding target attainment percentage of the Plan for the current Plan Year is presumed to be less than 60 percent; and 

  

	 	(2)	The first day of the 10th month of the current Plan Year is a Code Section 436 measurement date. 

  

	 	(b)	Plan Termination, Certain Frozen Plans, and Other Special Rules. 

  

	 	(i)	Plan Termination. The limitations on prohibited payments in Section 8.3(1)(a), 8.3(2)(a), and 8.3(3) do not apply to prohibited payments that are made to carry out the termination of the Plan in accordance
with applicable law. Any other limitations under this section of the Plan do not cease to apply as a result of termination of the Plan. 

  

	 	(iv)	Special Rules Relating to Unpredictable Contingent Event Benefits and Plan Amendments Increasing Benefit Liability. During any period in which none of the presumptions under Section 8.3(7)(a) apply to the
Plan and the Plan’s enrolled actuary has not yet issued a certification of the Plan’s adjusted funding target attainment percentage for the Plan Year, the limitations under Section 8.3(1)(b) and Section 8.3(2)(b) shall be based
on the inclusive presumed adjusted funding target attainment percentage for the Plan, calculated in accordance with the rules of Treasury Regulation Section 1.436-1(g)(2)(iii). 

 

	 	(c)	Special Rules Under PRA 2010. 

  

	 	(i)	Payments Under Social Security Leveling Options. For purposes of determining whether the limitations under Section 8.3(1)(a) or 8.3(2)(a) apply to payments under a social security leveling option, within the
meaning of Section 436(j)(3)(C)(i) of the Code, the adjusted funding target attainment percentage for a Plan Year shall be determined in accordance with the “Special Rule for Certain Years” under Section 436(j)(3) of the Code and
any Treasury Regulations or other published guidance thereunder issued by the Internal Revenue Service. 

  

	 	(ii)	 Limitation on Benefit Accruals. For purposes of determining whether the accrual limitation under Section 8.3(2)(c) applies to the Plan,
the adjusted funding target attainment percentage for a Plan Year shall be determined in 

  
 - 10 - 

	 	
accordance with the “Special Rule for Certain Years” under Section 436(j)(3) of the Code (except as provided under Section 203(b) of the Preservation of Access to Care for
Medicare Beneficiaries and Pension Relief Act of 2010, if applicable). 

  

	 	(d)	Interpretation of Provisions. The limitations imposed by this Section 8.3 shall be interpreted and administered in accordance with Section 436 of the Code and Treasury Regulation Section 1.436-1.

 (8). Definitions. The definitions in the following Treasury Regulations apply for purposes of this Section 8.3:
Section 1.436-1(j)(1) defining adjusted funding target attainment percentage; Section 1.436-1(j)(2) defining annuity starting date; Sec. 1.436-1(j)(6) defining prohibited payment; Section 1.436-1(j)(8) defining section 436 measurement
date; and Section 1.436-1(j)(9) defining an unpredictable contingent event and an unpredictable contingent event benefit.” 
 IN
WITNESS WHEREOF, the Corporation has caused this instrument to be executed on its behalf by its duly authorized officers as of this 13th day of December, 2013. 

 

			
	MacDermid, Incorporated
		
	By:	 	 /s/ Daniel H. Leever

		 	Daniel H. Leever
		 	CEO

  
 - 11 -Exhibit 10.22

 Exhibit 10.22 

PLATFORM SPECIALTY PRODUCTS CORPORATION 

NON-QUALIFIED STOCK OPTION AGREEMENT 

FOR 
  

 
 Agreement

 1. Grant of Option. PLATFORM SPECIALTY PRODUCTS CORPORATION (the “Company”) hereby
grants, as of                      (“Date of Grant”), to
                     (the “Optionee”) an option (the “Option”) to purchase up to
                 shares of the Company’s common stock (the “Shares”), at an exercise price per share equal to
$         (the “Exercise Price”). The Option shall be subject to the terms and conditions set forth herein. The Option is being granted pursuant to the Company’s Amended and
Restated 2013 Incentive Compensation Plan (the “Plan”), which is incorporated herein for all purposes. The Option is a Non-Qualified Stock Option, and not an Incentive Stock Option. The Optionee hereby acknowledges receipt of
a copy of the Plan and agrees to be bound by all of the terms and conditions hereof and thereof and all applicable laws and regulations. 
 2.
Definitions. Unless otherwise provided herein, terms used herein that are defined in the Plan and not defined herein shall have the meanings attributed thereto in the Plan. 

3. Exercise Schedule. Except as otherwise provided in Sections 6 or 9 of this Agreement, or in the Plan, the Option is exercisable in
installments as provided below, which shall be cumulative. To the extent that the Option has become exercisable with respect to a percentage of Shares as provided below, the Option may thereafter be exercised by the Optionee, in whole or in part, at
any time or from time to time prior to the expiration of the Option as provided herein. The following table indicates each date (the “Vesting Date”) upon which the Optionee shall be entitled to exercise the Option with
respect to the percentage of Shares granted as indicated beside the date, provided that the Continuous Service of the Optionee continues through and on the applicable Vesting Date: 

 

			
	 Percentage of Shares
	  	Vesting Date
		  	
		  	
		  	

 Except as otherwise specifically provided herein, there shall be no proportionate or partial vesting in the
periods prior to each Vesting Date, and all vesting shall occur only on the appropriate Vesting Date. Upon the termination of the Optionee’s Continuous Service, any unvested portion of the Option shall terminate and be null and void. 

4. Method of Exercise. The vested portion of this Option shall be exercisable in whole or in part in accordance with the exercise schedule set
forth in Section 3 hereof by written notice which shall state the election to exercise the Option, the number of Shares in respect of which the Option is being exercised, and such other representations and agreements as to the holder’s

  
 1 

 
investment intent with respect to such Shares as may be required by the Company pursuant to the provisions of the Plan. Such written notice shall be signed by the Optionee and shall be delivered
in person or by certified mail to the Secretary of the Company. The written notice shall be accompanied by payment of the Exercise Price. This Option shall be deemed to be exercised after both (a) receipt by the Company of such written notice
accompanied by the Exercise Price and (b) arrangements that are satisfactory to the Committee in its sole discretion have been made for Optionee’s payment to the Company of the amount, if any, that is necessary to be withheld in accordance
with applicable Federal or state withholding requirements. No Shares shall be issued pursuant to the Option unless and until such issuance and such exercise shall comply with all relevant provisions of applicable law, including the requirements of
any stock exchange upon which the Shares then may be traded. 
 5. Method of Payment. Payment of the Exercise Price shall be by any of the
following, or a combination thereof, at the election of the Optionee: (a) cash; (b) check; (c) to the extent permitted by the Committee, with Shares owned by the Optionee, or the withholding of Shares that otherwise would be delivered
to the Optionee as a result of the exercise of the Option, (d) pursuant to a “cashless exercise” procedure, by delivery of a properly executed exercise notice together with such other documentation, and subject to such guidelines, as
the Committee shall require to effect an exercise of the Option and delivery to the Company by a licensed broker acceptable to the Company of proceeds from the sale of Shares sufficient to pay the Exercise Price and any applicable income or
employment taxes, or (e) such other consideration or in such other manner as may be determined by the Committee in its absolute discretion. 
 6.
Termination of Option. 
 (a) General. Any unexercised portion of the Option shall automatically and without
notice terminate and become null and void at the time of the earliest to occur of the following: 
 (i) unless the Committee otherwise
determines in writing in its sole discretion, three months after the date on which the Optionee’s Continuous Service is terminated other than by reason of (A) by the Company or a Related Entity for Cause, (B) a Disability of the
Optionee as determined by a medical doctor satisfactory to the Committee, or (C) the death of the Optionee; 
 (ii) immediately upon
the termination of the Optionee’s Continuous Service by the Company or a Related Entity for Cause; 
 (iii) twelve months after the
date on which the Optionee’s Continuous Service is terminated by reason of a Disability as determined by a medical doctor satisfactory to the Committee; 

(iv) twelve months after the date of termination of the Optionee’s Continuous Service by reason of the death of the Optionee; or 

(v) the tenth (10th) anniversary of the Date of Grant. 

(b) Cancellation. To the extent not previously exercised, (i) the Option shall terminate immediately in the event of
(A) the liquidation or dissolution of the Company, or (B) 

  
 2 

 
any reorganization, merger, consolidation or other form of corporate transaction in which the Company does not survive or the Shares are exchanged for or converted into securities issued by
another entity, or an affiliate of such successor or acquiring entity, unless the successor or acquiring entity, or an affiliate thereof, assumes the Option or substitutes an equivalent option or right pursuant to Section 10(c) of the Plan, and
(ii) the Committee in its sole discretion may by written notice (“cancellation notice”) cancel, effective upon the consummation of any transaction that constitutes a Change in Control, the Option (or portion thereof) that remains
unexercised on such date. The Committee shall give written notice of any proposed transaction referred to in this Section 6(b) a reasonable period of time prior to the closing date for such transaction (which notice may be given either before
or after approval of such transaction), in order that the Optionee may have a reasonable period of time prior to the closing date of such transaction within which to exercise the Option if and to the extent that it then is exercisable (including any
portion of the Option that may become exercisable upon the closing date of such transaction). The Optionee may condition his exercise of the Option upon the consummation of a transaction referred to in this Section 6(b). 

7. Transferability. Unless otherwise determined by the Committee, the Option granted hereby is not transferable otherwise than by will or under
the applicable laws of descent and distribution, and during the lifetime of the Optionee the Option shall be exercisable only by the Optionee, or the Optionee’s guardian or legal representative. In addition, the Option shall not be assigned,
negotiated, pledged or hypothecated in any way (whether by operation of law or otherwise), and the Option shall not be subject to execution, attachment or similar process. Upon any attempt to transfer, assign, negotiate, pledge or hypothecate the
Option, or in the event of any levy upon the Option by reason of any execution, attachment or similar process contrary to the provisions hereof, the Option shall immediately become null and void. The terms of this Option shall be binding upon the
executors, administrators, heirs, successors and assigns of the Optionee. 
 8. No Rights of Stockholders. Neither the Optionee nor any
personal representative (or beneficiary) shall be, or shall have any of the rights and privileges of, a stockholder of the Company with respect to any Shares purchasable or issuable upon the exercise of the Option, in whole or in part, prior to the
date on which the Shares are issued. 
 9. Acceleration of Exercisability of Option. 

(a) Acceleration Upon Certain Terminations or Cancellations of Option. This Option shall become immediately fully exercisable in
the event that, prior to the termination of the Option pursuant to Section 6 hereof, (i) the Option is terminated pursuant to Section 6(b)(i) hereof, or (ii) the Company exercises its discretion to provide a cancellation notice
with respect to the Option pursuant to Section 6(b)(ii) hereof. 
 (b) Acceleration Upon Change in
Control. This Option [shall] [shall not] become immediately fully exercisable in the event that, prior to the termination of the Option pursuant to Section 6 hereof, and during the Optionee’s Continuous
Service, there is a Change in Control, as defined in Section 9(b) of the Plan. 

  
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 (c) [Exception to Acceleration Upon Change in Control.
Notwithstanding the foregoing, if in the event of a Change in Control the successor company assumes or substitutes for the Option, the vesting of the Option shall not be accelerated as described in Section 9(b). For the purposes of this
paragraph, the Option shall be considered assumed or substituted for if following the Change in Control the Option or substituted option confers the right to purchase, for each Share subject to the Option immediately prior to the Change in Control,
on substantially the same vesting and other terms and conditions as were applicable to the Option immediately prior to the Change in Control, the consideration (whether stock, cash or other securities or property) received in the transaction
constituting a Change in Control by holders of Shares for each Share held on the effective date of such transaction (and if holders were offered a choice of consideration, the type of consideration chosen by the holders of a majority of the
outstanding shares); provided, however, that if such consideration received in the transaction constituting a Change in Control is not solely common stock of the successor company or its parent or subsidiary, the Committee may, with the consent of
the successor company, or its parent or subsidiary, provide that the consideration to be received upon the exercise or vesting of the Option will be solely common stock of the successor company or its parent or subsidiary substantially equal in Fair
Market Value to the per share consideration received by holders of Shares in the transaction constituting a Change in Control. The determination of such substantial equality of value of consideration shall be made by the Committee in its sole
discretion and its determination shall be conclusive and binding.] 
 10. No Right to Continued Employment. Neither the Option nor this
Agreement shall confer upon the Optionee any right to continued employment or service with the Company. 
 11. Law Governing. This Agreement
shall be governed in accordance with and governed by the internal laws of the State of Delaware. 
 12. Interpretation / Provisions of
Plan Control. This Agreement is subject to all the terms, conditions and provisions of the Plan, including, without limitation, the amendment provisions thereof, and to such rules, regulations and interpretations relating to the Plan adopted
by the Committee as may be in effect from time to time. If and to the extent that this Agreement conflicts or is inconsistent with the terms, conditions and provisions of the Plan, the Plan shall control, and this Agreement shall be deemed to be
modified accordingly. The Optionee accepts the Option subject to all of the terms and provisions of the Plan and this Agreement. The undersigned Optionee hereby accepts as binding, conclusive and final all decisions or interpretations of the
Committee upon any questions arising under the Plan and this Agreement, unless shown to have been made in an arbitrary and capricious manner. 
 13.
Notices. Any notice under this Agreement shall be in writing and shall be deemed to have been duly given when delivered personally or when deposited in the United States mail, registered, postage prepaid, and addressed, in the case of
the Company, to the Company’s Secretary at 245 Freight Street, Waterbury, Connecticut 06702, or if the Company should move its principal office, to such principal office, and, in the case of the Optionee, to the Optionee’s last permanent
address as shown on the Company’s records, subject to the right of either party to designate some other address at any time hereafter in a notice satisfying the requirements of this Section. 

  
 4 

 14. Non-Waiver of Breach. The waiver by any party hereto of the other
party’s prompt and complete performance, or breach or violation, of any term or provision of this Agreement shall be effected solely in a writing signed by such party, and shall not operate nor be construed as a waiver of any subsequent breach
or violation, and the waiver by any party hereto to exercise any right or remedy which he or it may possess shall not operate nor be construed as the waiver of such right or remedy by such party, or as a bar to the exercise of such right or remedy
by such party, upon the occurrence of any subsequent breach or violation. 
 15. Counterparts. This Agreement may be
executed in two or more separate counterparts, each of which shall be an original, and all of which together shall constitute one and the same agreement. 

  
 5 

 IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the
     day of             , 20    . 
  

			
	COMPANY:
	
	PLATFORM SPECIALTY PRODUCTS CORPORATION, a Delaware corporation
		
	By:	 	  

	Name:	 	
	Title:	 	

 The Optionee acknowledges receipt of a copy of the Plan and represents that he or she has reviewed the
provisions of the Plan and this Option Agreement in their entirety, is familiar with and understands their terms and provisions, and hereby accepts this Option subject to all of the terms and provisions of the Plan and the Option Agreement. The
Optionee further represents that he or she has had an opportunity to obtain the advice of counsel prior to executing this Option Agreement. 
  

									
	Dated:	 	  
	 		 	OPTIONEE:
					
		 		 		 	By:	 	  

		 		 		 		 	[                    ]

  
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