Document:

EX-10.4

 Exhibit 10.4 

FORM OF 
 MATCO/AGCO IP
CROSS LICENSE AGREEMENT 
 by and between 

DOW INC. 
 and 

Corteva, Inc. 
 Dated as
of                 , 2019 

  
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 FORM OF 

MATCO/AGCO IP CROSS-LICENSE AGREEMENT 

This MATCO/AGCO IP CROSS-LICENSE AGREEMENT (this “Agreement”), dated as of
                , 2019 (the “Effective Date”), is entered into by and between Corteva, Inc. (“AgCo”), a Delaware corporation, the AgCo
Licensors and the AgCo Licensees, and Dow Inc., a Delaware corporation (“MatCo”), the MatCo Licensors and the MatCo Licensees (each of AgCo and MatCo, a “Party” and together, the “Parties”). 

WHEREAS, the Parties are parties to that certain Separation Agreement, dated
                , 2019 (the “Separation Agreement”); 

WHEREAS, as of and following the Effective Time (as defined in the Separation Agreement), each Party and its Affiliates have rights to
certain Patents, Know-How, Copyrights and Software (each, as defined in the Separation Agreement); and 

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

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

DEFINITIONS AND INTERPRETATION 

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

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

(2)    “AgCo Exclusive Patent Field” means, with respect to each MatCo Exclusively Licensed Patent, the
field of use corresponding thereto on Schedule F, and natural evolutions thereof; provided that the license granted under Section 2.2(c) hereof shall be
non-exclusive with respect to such natural evolutions, and such natural evolutions shall in no event include uses in any MatCo Exclusive Patent Field. 

(3)    “AgCo Exclusively Licensed Patents” means any and all (i) Patents set forth on Schedule
E to the extent Controlled by AgCo or any of its Affiliates as of the Effective Date and (ii) to the extent Controlled by AgCo or any of its Affiliates as of or following the Effective Date, continuations, divisionals, renewals, continuations-in-part, patents of addition, restorations, 

  
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extensions, supplementary protection certificates, reissues and re-examinations of, and all other Patents that claim priority to, such Patents and foreign
equivalents thereof, in each case to the extent the claims are supported by such Patents set forth on Schedule E (but in all cases expressly excluding any and all Excluded IP). 

(4)    “AgCo Know-How Field” means the field of the Agriculture
Business, as defined in the Separation Agreement, including as set forth on, and subject to, Schedule D, and natural evolutions thereof. 

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

(6)    “AgCo Licensed Engineering Standards” means Engineering Standards (including as set forth on
Schedule I(i)), each, to the extent both (i) owned by AgCo or any of its Affiliates, or with respect to which AgCo or any of its Affiliates has the right to grant the license or other rights granted to MatCo hereunder without payment
obligations to any Third Party, as of the Effective Date (provided that, for any such Engineering Standards to be AgCo Licensed Engineering Standards as of or prior to the AgCo Distribution, such Intellectual Property also must
constitute an Agriculture Asset) and (ii) (x) that is actually used in the operation of any Transferred Facility by MatCo or its Affiliates in the conduct of the Materials Science Business as of the Effective Date or (y) is reasonably
necessary to use any Local Standard (including, for clarity, the Engineering Standards used in the creation, development or derivation of such Local Standard to the extent reasonably necessary to use such Local Standard). Notwithstanding the
foregoing, the AgCo Licensed Engineering Standards shall expressly exclude (i) Regulatory Data, (ii) the MOD5 Systems Excluded IP owned by AgCo or any of its Affiliates, (iii) Operating Systems and Tools (as that term is defined in
the OS&T License Agreement), (iv)Trademarks, and (v) the Intellectual Property set forth on Schedule A. 

(7)    “AgCo Licensed IP” means the AgCo Licensed Patents, AgCo Licensed
Know-How, and AgCo Licensed Copyrights. 
 (8)    “AgCo Licensed Know-How” means any and all Know-How to the extent Controlled by AgCo or any of its Affiliates, and Used in the Materials Science Business, as of the Effective Date,
including the Know-How set forth on Schedule C. Notwithstanding the foregoing, AgCo Licensed Know-How expressly excludes any and all (i) IT Assets and
(ii) Excluded IP. 
 (9)    “AgCo Licensed Patents” means any and all AgCo Non-Exclusively Licensed Patents and AgCo Exclusively Licensed Patents. 

(10)    “AgCo Licensed SHE Standards” means the DuPont Safety, Health, and Environmental Standards
(including as set forth on Schedule I(ii)), each, to the extent both (i) owned by AgCo or any of its Affiliates, or with respect to which AgCo or any of its Affiliates has the right to grant the license or other rights granted to MatCo
hereunder without payment 

  
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obligations to any Third Party, as of the Effective Date (provided that, for any such DuPont Safety, Health, and Environmental Standards to be AgCo Licensed SHE Standards as of or
prior to the AgCo Distribution, such Intellectual Property also must constitute an Agriculture Asset) and (ii) (x) that is actually used in the operation of any Transferred Facility by MatCo or its Affiliates in the conduct of the Materials
Science Business as of the Effective Date or (y) is reasonably necessary to use any Local Standard (including, for clarity, the DuPont Safety, Health, and Environmental Standards used in the creation, development or derivation of such Local
Standard to the extent reasonably necessary to use such Local Standard). Notwithstanding the foregoing, the AgCo Licensed SHE Standards shall expressly exclude (i) Regulatory Data, (ii) the MOD5 Systems Excluded IP owned by AgCo or any of
its Affiliates, (iii) Operating Systems and Tools (as that term is defined in the OS&T License Agreement), (iv) Trademarks, and (v) the Intellectual Property set forth on Schedule A. 

(11)    “AgCo Licensed Standards” means the AgCo Licensed SHE Standards and the AgCo Licensed Engineering
Standards. 
 (12)    “AgCo Licensees” means E.I. du Pont de Nemours and Company with respect to the
licenses granted hereunder by Performance Materials NA, Inc., and DDP Agrosciences U.S. Inc. with respect to the licenses granted hereunder by The Dow Chemical Company. 

(13)     “AgCo Licensors” means E.I. du Pont de Nemours and Company and Dow Agrosciences LLC. 

(14)    “AgCo Non-Exclusive Patent Field” means (a) with
respect to each Patent described within subsection (i) of the MatCo Non-Exclusively Licensed Patent definition, the field of use corresponding thereto on Schedule H, and natural evolutions thereof;
provided that such natural evolutions shall in no event include uses in any MatCo Exclusive Patent Field, (b) with respect to each Patent described within subsection (ii) of the MatCo
Non-Exclusively Licensed Patent definition, the AgCo Know-How Field, and (c) with respect to each Patent described within subsection (iii) of the MatCo Non-Exclusively Licensed Patent definition, the field of use in which the MatCo Reference Patent for which such Patent described in subsection (iii) of the MatCo
Non-Exclusively Licensed Patent definition is a continuation, divisional, renewal, continuation-in-part, patent of addition,
restoration, extension, supplementary protection certificate, reissue, or re-examination, or to which such Patent described in subsection (iii) of the MatCo
Non-Exclusively Licensed Patent definition otherwise claims priority, (and, for clarity, that supports the claims of such Patent described in subsection (iii) of the MatCo
Non-Exclusively Licensed Patent definition) is licensed to AgCo and its Affiliates hereunder and natural evolutions thereof; provided that, such natural evolutions shall in no event include uses
in any MatCo Exclusive Patent Field. 
 (15)    “AgCo Non-Exclusively
Licensed Patents” means any and all (i) Patents set forth on Schedule G to the extent Controlled by AgCo or any of its Affiliates as of the Effective Date, (ii) Patents to the extent such Patents Cover any AgCo Licensed Know-How and are Controlled by AgCo or any of its Affiliates following the Effective Date and (iii) to the extent Controlled by AgCo or any of its Affiliates as of or following the Effective Date,
continuations, divisionals, renewals, continuations-in-part, patents of addition, restorations, extensions, supplementary protection certificates, reissues and re-examinations of, and all other Patents that claim priority 

  
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to, any Patents described in either of the foregoing subsections (i) or (ii), and foreign equivalents thereof, in each case to the extent the claims are supported by any Patents described in
either of the foregoing subsections (i) or (ii) (but in all cases expressly excluding any and all Excluded IP) (such Patents described in the foregoing subsections (i) and (ii), the “AgCo Reference Patents”). 

(16)     “AgCo Patent Fields” means the AgCo Exclusive Patent Fields and the AgCo Non-Exclusive Patent Fields. 
 (17)     “AgCo Scheduled Licensed
Patents” means the AgCo Licensed Patents listed on Schedule E and Schedule G hereto, to the extent Controlled by AgCo or any of its Affiliates as of the Effective Date (but expressly excluding any and all Excluded IP), which
Schedules may be supplemented from time to time upon the written notice by AgCo or any of its Affiliates to MatCo (which notice shall not be effective until twenty (20) days of receipt by MatCo thereof) to include, to the extent Controlled by
AgCo or any of its Affiliates at the relevant time, continuations, divisionals, renewals, continuations-in-part, patents of addition, restorations, extensions,
supplementary protection certificates, reissues and re-examinations of, and all other Patents that claim priority to, the Patents listed on Schedule E or Schedule G as of the Effective Date (as
applicable), and foreign equivalents thereof, in each case to the extent the claims are supported by any Patents listed on Schedule E or Schedule G as of the Effective Date, as applicable. 

(18)    “Authorized User” means MatCo and its Affiliates, including, for clarity, any Person that becomes
an Affiliate of MatCo after the Effective Date (but, subject to Section 10.2, only for so long as such Person remains an Affiliate of MatCo) and its and their Personnel. 

(19)    “Business Software” means with respect to a Licensor, all Software to the extent Controlled by
such Licensor or any of its Affiliates as of the Effective Date, which Software is reasonably required as of the Effective Date for the conduct of (i) the Agriculture Business if the Licensee is AgCo, including as listed on section (i) of
Schedule Q, or (ii) the Materials Science Business if the Licensee is MatCo, including as listed on section (ii) of Schedule Q, in each case (in respect of the foregoing (i) and (ii)), only if and to the extent such
Licensee and its Affiliates have not been granted a license or other rights to use such Software under the Separation Agreement or any other Ancillary Agreement. Notwithstanding the foregoing, Business Software expressly excludes any and all
Excluded IP. 
 (20)    “Confidential Information” shall have the meaning provided to it in the
Umbrella Secrecy Agreement. 
 (21)    “Contract” means any agreement, contract, subcontract,
obligation, note, indenture, instrument, option, lease, sublease, promise, arrangement, release, warranty, license, sublicense, insurance policy, purchase order or legally binding commitment or undertaking of any nature (whether written or oral and
whether express or implied). 
 (22)    “Controlled” means, with respect to any Patent, Know-How, Copyright or Software, (a) such Intellectual Property is owned by the applicable Party or any of its Affiliates (provided that, for any such Intellectual Property to be Controlled by
AgCo or any of its Affiliates as of or prior to the AgCo Distribution, such Intellectual Property also must constitute an Agriculture 

  
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Asset) and (b) such Party or any of its Affiliates has the ability to grant a license or other rights in, to or under such Patent, Know-How, Copyright
or Software (respectively) on the terms and conditions set forth herein (other than pursuant to a license or other rights granted pursuant to this Agreement) without violating any Contract entered into as of or prior to the Effective Date between
such Party or any of its Affiliates, on the one hand, and any Third Party, on the other hand. 

(23)    “Controlling Party” has the meaning set forth in Section 5.2(c). 

(24)    “Cover” means, with respect to any Patent, in the absence of a license granted under an unexpired
claim that has not been adjudicated, without limitation to Section 8.3, to be invalid or unenforceable by a final, binding decision of a court or other Governmental Entity of competent jurisdiction that is unappealable or
unappealed within the time permitted for appeal of such Patent (or if such Patent is a patent application, a claim in such patent application if such patent application were to issue as a patent), the practice of the applicable invention or
technology, or performance of the applicable process, would infringe such claim. For clarity, and by way of example, an issued Patent Covers a product if, in the absence of a license granted under such a claim of such Patent, making, using, selling,
offering for sale, importing or exporting such product infringes such claim. 
 (25)    “Designated AgCo
Standards” has the meaning set forth in Section 10.2(b)(ii). 

(26)    “Discussion Notice” has the meaning set forth in Section 8.3(b). 

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

(29)    “Excluded IP” means (i) DuPont Safety, Health and Environmental Standards (including AgCo
Licensed SHE Standards), (ii) Engineering Standards (including the AgCo Licensed Engineering Standards), (iii) Regulatory Data, (iv) Operating Systems and Tools (as that term is defined in the OS&T License Agreement), (v) the Licensed
Software, Plant Configuration, Firmware, MODTM 5 Hardware and MODTM 5 Systems (as the foregoing terms in this subsection (v) are defined
in the MODTM 5 Software Agreement) (collectively, the “MOD5 Systems Excluded IP”), (vi) Trademarks, and (vii) the Intellectual Property set forth on Schedule A. 

(30)    “Exclusively Licensed IP” means the AgCo Exclusively Licensed Patents and the MatCo Exclusively
Licensed Patents. 

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

(32)    “Governmental Entity” means any nation or government, any state, municipality or other political
subdivision thereof and any entity, body, agency, commission, department, board, bureau or court, whether domestic, foreign, multinational or supranational exercising executive, legislative, judicial, regulatory, self-regulatory or administrative
functions of or pertaining to government and any executive official thereof. 
 (33)    “Holding Party”
has the meaning set forth in Section 2.12(a). 
 (34)    “Indemnifying Party”
has the meaning set forth in Section 6.1(a). 
 (35)    “Indemnitees” has the
meaning set forth in Section 6.1(a). 
 (36)    “Intellectual Property” means
all intellectual property and industrial property rights of any kind or nature, including all U.S. and foreign (i) Patents, (ii) trademarks, service marks, corporate names, trade names, Internet domain names, social media accounts or handles,
logos, slogans, trade dress and other similar designations of source or origin, together with the goodwill symbolized by any of the foregoing (collectively, “Trademarks”), (iii) copyrights and copyrightable subject matter
(collectively, “Copyrights”), (iv) rights of privacy and publicity, (v) moral rights and rights of attribution and integrity, (vi) Know-How, (vii) all applications and
registrations for the foregoing and (viii) all rights and remedies against past, present, and future infringement, misappropriation, or other violation of the foregoing, in each case (with respect to the foregoing clauses (i) through
(viii)), excluding all IT Assets (except Software). 
 (37)    “IT Assets” means all (i) Software
(including any Copyrights therein), computer systems, public Internet protocol address blocks, telecommunications equipment and other information technology infrastructure (including servers and server equipment, computers (including laptop
computers), computer equipment and hardware, printers, telephones (including cell phones and smartphones) and telephone equipment (including headsets), network devices and equipment (including routers, wireless access points, switches and hubs),
fiber and backbone cabling and other telecommunications wiring, demarcation points and rooms, computer rooms and telecommunications closets), (ii) documentation, reference, resource and training materials to the extent relating thereto, and
(iii) Contracts to the extent relating to any of the foregoing clauses (i) and (ii) (including Software license agreements, source code escrow agreements, support and maintenance agreements, electronic database access contracts, domain
name registration agreements, public Internet protocol address block agreements, website hosting agreements, Software or website development agreements, outsourcing agreements, service provider agreements, interconnection agreements and
telecommunications agreements); provided, that, notwithstanding the foregoing, IT Assets shall exclude Know-How contained or stored in any of the items described in the foregoing subsections
(i) through (iii) and Patents that claim any such Know-How. 

(38)    “Know-How” means trade secrets and rights in all other
confidential and proprietary information, including know-how, inventions, algorithms, logic, standard operating 

  
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conditions and procedures, proprietary processes, formulae, data, databases and other compilations of data, drawings, models and methodologies, including confidential information set forth in
laboratory notebooks, laboratory reports, Plant Operating Documents, and Engineering Models and Databases (except to the extent such information is Covered by any Patents), in each case of the foregoing, to the extent confidential and proprietary.
For the avoidance of doubt, “Know-How” includes notices of invention and invention disclosures for which a Patent has not been filed as of the Effective Date (e.g., NOIs and ICDs, as such
terms are understood and used by the Parties as of the Effective Date). 
 (39)    “Know-How Materials” means those written, electronic, computerized, digital or other similar tangible or intangible media to the extent containing or embodying any MatCo Licensed Know-How, AgCo Licensed Know-How, MatCo Licensed Copyrights, AgCo Licensed Copyrights, AgCo Licensed Standards or Business Software. 

(40)    “Licensed Copyrights” means (i) with respect to the licenses granted to MatCo hereunder, the
AgCo Licensed Copyrights and the Copyrights licensed under Section 2.3(b) and 2.4 hereof, and (ii) with respect to the licenses granted to AgCo hereunder, the MatCo Licensed Copyrights and the Copyrights
licensed under Section 2.3(a) hereof. 
 (41)    “Licensed Facility” means
any facility owned by or operated on behalf of an Authorized User. 
 (42)    “Licensed IP” means
(i) with respect to the licenses granted to MatCo or the MatCo Licensees, as applicable, hereunder, the AgCo Licensed IP, the Intellectual Property licensed under Section 2.3(b) and 2.4 hereof, the Patents
Controlled by AgCo or any of its Affiliates and licensed under Section 2.6 hereof, and the Business Software Controlled by AgCo or any of its Affiliates, and (ii) with respect to the licenses granted to AgCo or the
AgCo Licensees, as applicable, hereunder, the MatCo Licensed IP, the Intellectual Property licensed under Section 2.3(a) hereof, the Patents Controlled by MatCo or any of its Affiliates and licensed under
Section 2.6 hereof, and the Business Software Controlled by MatCo or any of its Affiliates. 

(43)    “Licensed Know-How” means (i) with respect to the
licenses granted to MatCo or the MatCo Licensees, as applicable, hereunder, the AgCo Licensed Know-How and the Know-How licensed under
Section 2.3(b) and 2.4 hereof, and (ii) with respect to the licenses granted to AgCo or the AgCo Licensees, as applicable, hereunder, the MatCo Licensed Know-How and the Know-How licensed under Section 2.3(a) hereof. 

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

(45)    “Licensee” means (i) the relevant AgCo Licensee with respect to the MatCo Licensed IP and
the Patents Controlled by MatCo or any of its Affiliates and licensed under Section 2.6 hereof, and AgCo and its applicable Affiliates with respect to the Intellectual Property licensed under
Section 2.3(a) hereof and the Business Software Controlled by MatCo or any of its Affiliates hereunder, and (ii) the relevant MatCo Licensees with respect to the AgCo 

  
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Licensed IP, the Intellectual Property licensed under Section 2.4 hereof, and the Patents Controlled by AgCo or any of its Affiliates and licensed under
Section 2.6 hereof, and MatCo and its applicable Affiliates with respect to the Intellectual Property licensed under Section 2.3(b) hereof and the Business Software Controlled by AgCo or any of its
Affiliates hereunder. 
 (46)    “Licensor” means (i) the AgCo Licensors with respect to the AgCo
Licensed IP, the Intellectual Property licensed under Section 2.4 hereof, and the Patents Controlled by AgCo or any of its Affiliates and licensed under Section 2.6 hereof, and AgCo with respect to
the Intellectual Property licensed under Section 2.3(b) hereof, and the Business Software Controlled by AgCo or any of its Affiliates, and (ii) the MatCo Licensors with respect to the MatCo Licensed IP and the Patents
Controlled by MatCo or any of its Affiliates and licensed under Section 2.6 hereof, and MatCo with respect to the Intellectual Property licensed under Section 2.3(a) hereof and the Business
Software Controlled by MatCo or any of its Affiliates. 
 (47)    “Local Standards” has the meaning set
forth in Section 2.4(b). 
 (48)    “Manufacturing Product Agreement” means
those certain Manufacturing Product Agreement(s) and Product for Resale Agreement(s) between MatCo or its Affiliate on the one hand and AgCo or a member of the AgCo Group on the other hand, that have been entered into as of the Effective Date. 

(49)    “MatCo Exclusive Patent Field” means, with respect to each AgCo Exclusively Licensed Patent, the
field of use corresponding thereto on Schedule N, and natural evolutions thereof; provided that the license granted under Section 2.1(c) hereof shall be
non-exclusive with respect to such natural evolutions, and such natural evolutions shall in no event include uses in any AgCo Exclusive Patent Field. 

(50)    “MatCo Exclusively Licensed Patents” means any and all (i) Patents set forth on Schedule
M to the extent Controlled by MatCo or any of its Affiliates as of the Effective Date and (ii) to the extent Controlled by MatCo or any of its Affiliates as of or following the Effective Date, continuations, divisionals, renewals, continuations-in-part, patents of addition, restorations, extensions, supplementary protection certificates, reissues, and
re-examinations of, and all other Patents that claim priority to, such Patents and foreign equivalents thereof, in each case to the extent the claims are supported by such Patents set forth on Schedule
M (but in all cases expressly excluding any and all Excluded IP). 
 (51)    “MatCo Know-How Field” means the field of the Materials Science Business, as defined in the Separation Agreement, including as set forth on, and subject to, Schedule L, and natural evolutions thereof. 

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

(53)    “MatCo Licensed IP” means the MatCo Licensed Patents, MatCo Licensed Know-How and MatCo Licensed Copyrights. 

  
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 (54)    “MatCo Licensed
Know-How” means any and all Know-How to the extent Controlled by MatCo or any of its Affiliates, and Used in the Agriculture Business, as of the Effective Date,
including the Know-How set forth on Schedule K. Notwithstanding the foregoing, MatCo Licensed Know-How expressly excludes any and all (i) IT Assets and
(ii) Excluded IP. 
 (55)    “MatCo Licensed Patents” means any and all MatCo Exclusively Licensed
Patents and MatCo Non-Exclusively Licensed Patents. 
 (56)    “MatCo
Licensees” means Performance Materials NA, Inc. with respect to the licenses granted hereunder by E.I. du Pont de Nemours and Company and The Dow Chemical Company with respect to the licenses granted hereunder by Dow Agrosciences LLC. 

(57)    “MatCo Licensors” means Performance Materials, NA Inc., and The Dow Chemical Company. 

(58)    “MatCo Non-Exclusive Patent Field” means (a) with
respect to each Patent described within subsection (i) of the AgCo Non-Exclusively Licensed Patent definition, the field of use corresponding thereto on Schedule P, and natural evolutions thereof;
provided that, such natural evolutions shall in no event include uses in any AgCo Exclusive Patent Field, (b) with respect to each Patent described within subsection (ii) of the AgCo
Non-Exclusively Licensed Patent definition, the MatCo Know-How Field and (c) with respect to each Patent described within subsection (iii) of the AgCo Non-Exclusively Licensed Patent definition, the field of use in which the AgCo Reference Patent for which such Patent described in subsection (iii) of the AgCo
Non-Exclusively Licensed Patent definition is a continuation, divisional, renewal, continuation-in-part, patent of addition,
restoration, extension, supplementary protection certificate, reissue or re-examination, or to which such Patent described in subsection (iii) of the AgCo
Non-Exclusively Licensed Patent definition otherwise claims priority, (and, for clarity, that supports the claims of such Patent described in subsection (iii) of the AgCo
Non-Exclusively Licensed Patent definition) is licensed to MatCo and its Affiliates hereunder and natural evolutions thereof; provided that, such natural evolutions shall in no event include uses
in any AgCo Exclusive Patent Field. 
 (59)     “MatCo Non-Exclusively
Licensed Patents” means any and all (i) Patents set forth on Schedule O to the extent Controlled by MatCo or any of its Affiliates as of the Effective Date, (ii) Patents to the extent such Patents Cover any MatCo Licensed Know-How and are Controlled by MatCo or any of its Affiliates following the Effective Date and (iii) to the extent Controlled by MatCo or any of its Affiliates as of or following the Effective Date,
continuations, divisionals, renewals, continuations-in-part, patents of addition, restorations, extensions, supplementary protection certificates, reissues and re-examinations of, and all other Patents that claim priority to, any Patents described in either of the foregoing subsections (i) or (ii), and foreign equivalents thereof, in each case to the extent the claims
are supported by any Patents described in either of the foregoing subsections (i) or (ii) (but in all cases expressly excluding any and all Excluded IP) (such Patents described in the foregoing subsections (i) and (ii), the
“MatCo Reference Patents”). 
 (60)    “MatCo Patent Fields” means the MatCo Exclusive
Patent Fields and the MatCo Non-Exclusive Patent Fields. 

  
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 (61)     “MatCo Scheduled Licensed Patents” means the
MatCo Licensed Patents listed on Schedule M and Schedule O hereto, to the extent Controlled by MatCo or any of its Affiliates as of the Effective Date (but expressly excluding any and all Excluded IP), which Schedules may be
supplemented from time to time upon the written notice by MatCo or any of its Affiliates to AgCo (which notice shall not be effective until twenty (20) days of receipt by AgCo thereof) to include, to the extent Controlled by MatCo or any of its
Affiliates at the relevant time, continuations, divisionals, renewals, continuations-in-part, patents of addition, restorations, extensions, supplementary protection
certificates, reissues and re-examinations of, and all other Patents that claim priority to, the Patents listed on Schedule M or Schedule O as of the Effective Date (as applicable), and foreign
equivalents thereof, in each case to the extent the claims are supported by any Patents listed on Schedule M or Schedule O as of the Effective Date, as applicable. 

(62)    “Merger Time” means the effective time of the mergers of E. I. du Pont de Nemours and Company and
the Dow Chemical Company with wholly owned subsidiaries of DowDuPont, Inc. 
 (63)    “MODTM 5 Software Agreement” means that certain MODTM 5 Computerized Process Control Software Agreement entered into by and between
Rofan Services LLC and AgCo, dated as of the Effective Date. 

(64)    “Non-Practicing Entity” means any Person for which such
Person’s (and all of its Affiliates’) principal source of revenue is the offering of licenses or covenants not to sue or seeking damages through the prosecution of lawsuits with respect to Patents. 

(65)    “Notifying Party” has the meaning set forth in Section 2.7(a). 

(66)    “OS&T License Agreement” means that certain Operating Systems and Tools License Agreement
entered into by and between Dow Global Technologies LLC and AgCo, dated as of the Effective Date. 

(67)    “Patent Challenge” means any direct or indirect (including by voluntarily supporting an Action
brought by another Person) challenge to the validity, patentability, enforceability or inventorship of any Scheduled Licensed Patent, including in (i) any court (including any declaratory judgment action), or (ii) activity or Action before
a patent office or other Governmental Entity or registrar, including any reissue, reexamination, pre-grant review, post-grant review, opposition, inter partes review, third party observations, protest
or similar proceeding. 
 (68)    “Patent Challenge Liquidated Damages” has the meaning set forth in
Section 8.3(c)(ii)(4). 
 (69)    “Patent Challenge Notice” has the meaning
set forth in Section 8.3(a). 
 (70)    “Patents” means patents, patent
applications, and all related continuations, continuations-in-part, divisionals, reissues, re-examinations, substitutions and
extensions thereof. 

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

(72)    “Product” means, with respect to each Manufacturing Product Agreement, the definition for
“Product” as set forth in such Manufacturing Product Agreement, including those products set forth on Schedule S and Schedule T hereto. 

(73)    “Product Field of Use” means, with respect to a Product supplied by or on behalf of one Party or
any of its Affiliates to the other Party or any of its Affiliates under a Manufacturing Product Agreement, the “Field of Use” for such Product, as such term is defined in the applicable Manufacturing Product Agreement. 

(74)    “Promote” means to solicit customers for, solicit orders for, advertise, market or otherwise
promote. 
 (75)    “Receiving Party” has the meaning set forth in
Section 2.7(a). 
 (76)    “Regulatory Data” means any and all regulatory
data (including studies, data, raw data, efficacy data, reports, physical samples, reviews (including business risk reviews), opinions, self-GRAS determinations, information or other compliance requirements, including safety, risk and exposure
assessments and modeling for product contamination or impurity issues), in written, electronic, computerized, digital, or other tangible or intangible media, actually submitted to, or maintained to support a submission to (whether submitted or not),
a Governmental Entity or a Third Party to seek, obtain or maintain a Governmental Approval or demonstrate regulatory compliance. 

(77)    “Requesting Party” has the meaning set forth in Section 2.12(a). 

(78)    “Scheduled Licensed Patents” means the MatCo Scheduled Licensed Patents and the AgCo Scheduled
Licensed Patents. 
 (79)    “Seller” means the Party that is, or has one or more Affiliates that are,
the “Seller” under a Manufacturing Product Agreement. 
 (80)    “Software” means all
computer programs (whether in source code, object code, or other form), software implementations of algorithms, and related documentation, including flowcharts and other logic and design diagrams, technical, functional and other specifications, and
user and training materials related to any of the foregoing. 
 (81)     “Sublicensee” has the meaning
set forth in Section 2.8(a). 
 (82)    “Term” has the meaning set forth in
Section 8.1. 
 (83)    “Terminated Licenses” has the meaning set forth in
Section 8.3(e). 
 (84)    “Third Party” means any Person other than AgCo,
MatCo, and their respective Affiliates. 

  
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 (85)    “Third Party Infringement” has the meaning set
forth in Section 5.1. 
 (86)    “Third Party Payments” means any and all
obligations on the part of Licensor or its Affiliates to pay royalties, sublicense fees, milestones or other amounts to Third Parties pursuant to Contracts existing as of the Effective Date (or, in the case of Wrong Pockets Patents, Contracts
existing as of the date of the Wrong Pockets Notice) to which Licensor or any of its Affiliates is a party or is otherwise bound, in each case to the extent that such obligation to pay arises from, or is a result of the grant to or exercise by
Licensee or any Sublicensees of, any license, sublicense or other right to practice granted hereunder. 

(87)    “Transferred Facility” means any sites and facilities that were owned by AgCo or one its
Affiliates prior to the Effective Date and transferred to MatCo or one its Affiliates as of the Effective Date as a result of the Internal Reorganization. 

(88)    “Umbrella Secrecy Agreement” means the Umbrella Secrecy Agreement, dated as of the Effective
Date, between the Parties and the other signatories thereto. 
 (89)    “Used” means, with respect to
the applicable Patent, Copyright or Know-How, that, as of the Effective Date, (i) such Intellectual Property is actually used, or (ii) (1) there is a bona fide plan and intention to use such
Intellectual Property with a product that is expected to be commercially launched within eight and one half (8.5) years of the Effective Date or that is set forth on Schedule R, and (2) senior management has agreed to or approved, in
writing, a capital investment or commitment to allocate resources or man-hours to implement such plan and intention, in each case in respect of the foregoing subsections (i) and (ii), as established by
contemporaneous written records created in the ordinary course of business (which records shall be in a form consistent with the form that actual use, or similar plans and approvals, as applicable, were documented by the applicable Party (or its
predecessors in interest) prior to the Merger Time). 
 (90)    “Wrong Pockets Notice” shall have the
meaning set forth in Section 2.7(a). 
 (91)    “Wrong Pockets Patent” shall
have the meaning set forth in Section 2.7(c). 
 Section 1.2    References;
Interpretation. For the purposes of this Agreement, (a) words in the singular shall be held to include the plural and vice versa, and words of one gender shall be held to include the other gender as the context requires; (b) references
to the terms Article, Section, paragraph, clause, Exhibit and Schedule are references to the Articles, Sections, paragraphs, clauses, Exhibits and Schedules to this Agreement unless otherwise specified; (c) the terms “hereof,”
“herein,” “hereby,” “hereto,” and derivative or similar words refer to this entire Agreement, including the Schedules and Exhibits hereto; (d) references to “$” shall mean U.S. dollars; (e) the word
“including” and words of similar import when used in this Agreement shall mean “including without limitation,” unless otherwise specified; (f) the word “or” shall not be exclusive; (g) references to
“written” or “in writing” include in electronic form; (h) the headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement; (i) the
Parties have each participated in the negotiation and drafting of this Agreement and, except as otherwise stated herein, if an ambiguity or question of interpretation should arise, this Agreement shall be construed as if

  
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drafted jointly by the Parties and no presumption or burden of proof shall arise favoring or burdening any Party by virtue of the authorship of any of the provisions in this Agreement; (j) a
reference to any Person includes such Person’s successors and permitted assigns; (k) any reference to “days” means calendar days unless Business Days are expressly specified; (l) when calculating the period of time before
which, within which or following which any act is to be done or step taken pursuant to this Agreement, the date that is the reference date in calculating such period shall be excluded and if the last day of such period is not a Business Day, the
period shall end on the next succeeding Business Day; (m) any statute defined or referred to herein means such statute as from time to time amended, modified or supplemented, unless otherwise specifically indicated; (n) the use of the
phrases “the date of this Agreement”, “the date hereof”, “of even date herewith” and terms of similar import shall be deemed to refer to the date set forth in the preamble to this Agreement; (o) the phrase
“ordinary course of business” shall be deemed to be followed by the words “consistent with past practice” whether or not such words actually follow such phrase; (p) where a word or phrase is defined herein, each of its other
grammatical forms shall have a corresponding meaning; and (q) any consent given by any Party pursuant to this Agreement shall be valid only if contained in a written instrument signed by such Party. Unless the context requires otherwise,
references in this Agreement to “MatCo” shall also be deemed to refer to the applicable member of the MatCo Group, references to “AgCo” shall also be deemed to refer to the applicable member of the AgCo Group and, in connection
therewith, any references to actions or omissions to be taken, or refrained from being taken, as the case may be, by MatCo or AgCo shall be deemed to require MatCo or AgCo, as the case may be, to cause the applicable members of the MatCo Group or
the AgCo Group, respectively, to take, or refrain from taking, any such action. 
 ARTICLE II 

GRANTS OF RIGHTS 

Section 2.1    Licenses to MatCo of AgCo Licensed IP. 

(a)    Non-Exclusive License to
Know-How and Copyrights. Subject to the terms and conditions of this Agreement (including Section 2.1(d)), the AgCo Licensors hereby grant, and AgCo shall cause its Affiliates to
grant, to the relevant MatCo Licensees an irrevocable, royalty-free, fully paid-up, sublicensable (to the extent permitted in Section 2.8), transferable (subject to
Section 10.2), worldwide, non-exclusive license in, to and under the AgCo Licensed Know-How and the AgCo Licensed Copyrights for any and all
uses in the MatCo Know-How Field. For clarity, subject to the terms and conditions of this Agreement, the license in, to and under the applicable AgCo Licensed IP set forth in this
Section 2.1(a) shall include the right to practice the same to make (including have made), use, sell, offer for sale, import, and export any and all products within the MatCo Know-How
Field, and use, practice, copy, perform, render, develop, improve, display, redistribute, modify, and make derivative works of such AgCo Licensed IP, within the MatCo Know-How Field. 

(b)    Non-Exclusive License to Patents. Subject to the terms and
conditions of this Agreement (including Section 2.1(d)), the AgCo Licensors hereby grant to the relevant MatCo Licensees as set forth on Schedule G, as applicable, an irrevocable (subject to
Section 8.3), royalty-free, fully paid-up, sublicensable (to the extent permitted in Section 2.8), transferable (subject to
Section 10.2), worldwide, non-exclusive license in, to and under the 

  
 14 

 
AgCo Non-Exclusively Licensed Patents for any and all uses in the applicable MatCo Non-Exclusive Patent Field. For
clarity, subject to the terms and conditions of this Agreement, the license in, to and under the AgCo Non-Exclusively Licensed Patents set forth in this Section 2.1(b) shall include
the right to practice the same to make (including have made), use, sell, offer for sale, import, and export any and all products within the applicable MatCo Non-Exclusive Patent Field. 

(c)    Exclusive License to Patents. Subject to the terms and conditions of this Agreement (including
Section 2.1(d)), the AgCo Licensors hereby grant to the relevant MatCo Licensees as set forth on Schedule E, as applicable, an irrevocable (subject to Section 8.3), royalty-free, fully paid-up, sublicensable (to the extent permitted in Section 2.8), transferable (subject to Section 10.2), worldwide, exclusive (even as to AgCo and its Affiliates,
but subject to Section 8.3) license in, to and under the AgCo Exclusively Licensed Patents for any and all uses in the applicable MatCo Exclusive Patent Field. For clarity, subject to the terms and conditions of this
Agreement, the license in, to and under the AgCo Exclusively Licensed Patents set forth in this Section 2.1(c) shall include the right to practice the same to make (including have made), use, sell, offer for sale, import,
and export any and all products within the applicable MatCo Exclusive Patent Field. 
 (d)    Products Supplied
Under Manufacturing Product Agreements. With respect to Products supplied to MatCo or its Affiliates under the Manufacturing Product Agreement for which AgCo or any of its Affiliates is Seller, the rights granted in this
Section 2.1 shall include rights under the applicable AgCo Licensed IP to (i) use, sell, offer for sale, market, promote, distribute, import and export, certify, submit for registration, and permit sub-registration of such Products (which, for clarity, are set forth on Schedule S) and (ii) solely upon the delivery of a Shortfall Transition Request, a Voluntary Project Transition Request or a
Termination Transition Request (as the foregoing terms are defined in the applicable Manufacturing Product Agreement) and solely to the extent permitted under the applicable Manufacturing Product Agreement, make and have made such Products, in each
case of (i) and (ii), solely in the applicable Product Field of Use, but, notwithstanding anything to the contrary herein, shall not otherwise include rights to make or have made any such Products. 

Section 2.2    Licenses to AgCo of MatCo Licensed IP.  
 (a)    Non-Exclusive
License to Know-How and Copyrights. Subject to the terms and conditions of this Agreement (including Section 2.2(d)), the MatCo Licensors hereby grant, and MatCo shall cause its
Affiliates to grant, to the relevant AgCo Licensees an irrevocable, royalty-free, fully paid-up, sublicensable (to the extent permitted in Section 2.8), transferable (subject to
Section 10.2), worldwide, non-exclusive license in, to and under the MatCo Licensed Know-How and MatCo Licensed Copyrights for any and all uses
in the AgCo Know-How Field. For clarity, subject to the terms and conditions of this Agreement, the license in, to and under the applicable MatCo Licensed IP set forth in this
Section 2.2(a) shall include the right to practice the same to make (including have made), use, sell, offer for sale, import, and export any and all products within the AgCo Know-How
Field, and use, practice, copy, perform, render, develop, improve, display, redistribute, modify, and make derivative works of such MatCo Licensed IP, within the AgCo Know-How Field. 

  
 15 

 (b)    Non-Exclusive License
to Patents. Subject to the terms and conditions of this Agreement (including Section 2.2(d)), the MatCo Licensors hereby grant to the relevant AgCo Licensees as set forth on Schedule O, as applicable, an
irrevocable (subject to Section 8.3), royalty-free, fully paid-up, sublicensable (to the extent permitted in Section 2.8), transferable (subject to
Section 10.2), worldwide, non-exclusive license in, to and under the MatCo Non-Exclusively Licensed Patents for any and all uses in the
applicable AgCo Non-Exclusive Patent Field. For clarity, subject to the terms and conditions of this Agreement, the license in, to and under the MatCo Non-Exclusively
Licensed Patents set forth in this Section 2.2(b) shall include the right to practice the same to make (including have made), use, sell, offer for sale, import, and export any and all products within the applicable AgCo Non-Exclusive Patent Field. 
 (c)    Exclusive License to Patents. Subject to
the terms and conditions of this Agreement (including Section 2.2(d)), the MatCo Licensors hereby grant to the relevant AgCo Licensees as set forth on Schedule M, as applicable, an irrevocable (subject to
Section 8.3), royalty-free, fully paid-up, sublicensable (to the extent permitted in Section 2.8), transferable (subject to
Section 10.2), worldwide, exclusive (even as to MatCo and its Affiliates, but subject to Section 8.3) license in, to and under the MatCo Exclusively Licensed Patents for any and all uses in the
applicable AgCo Exclusive Patent Field. For clarity, subject to the terms and conditions of this Agreement, the license in, to and under the MatCo Exclusively Licensed Patents set forth in this Section 2.2(c) shall include
the right to practice the same to make (including have made), use, sell, offer for sale, import, and export any and all products within the applicable AgCo Exclusive Patent Field. 

(d)    Products Supplied Under Manufacturing Product Agreements. With respect to Products supplied
to AgCo or its Affiliates under the Manufacturing Product Agreement for which MatCo or any of its Affiliates is Seller, the rights granted in this Section 2.2 shall include rights under the applicable MatCo Licensed IP to
(i) use, sell, offer for sale, market, promote, distribute, import and export, certify, submit for registration, and permit sub-registration of such Products (which, for clarity, are set forth on
Schedule T) and (ii) solely upon the delivery of a Shortfall Transition Request, a Voluntary Project Transition Request or a Termination Transition Request (as the foregoing terms are defined in the applicable Manufacturing Product
Agreement) and solely to the extent permitted under the applicable Manufacturing Product Agreement, make and have made such Products, in each case of (i) and (ii), solely in the applicable Product Field of Use, but, notwithstanding anything to
the contrary herein, shall not otherwise include rights to make or have made any such Products. 

Section 2.3    Licenses for Product Supply. 

(a)    Subject to the terms and conditions of this Agreement, MatCo hereby grants, and shall cause its Affiliates to
grant, to AgCo and its Affiliates a royalty-free, fully paid-up, worldwide non-exclusive license in, to and under (i) the MatCo Licensed IP, and (ii) any other
Intellectual Property (except any Excluded IP) to the extent as of the Effective Date, MatCo or its Affiliates has the ability to grant the license set forth in this Section 2.3(a), and the related rights set forth herein,
on the terms and conditions set forth herein without violating any Contract entered into as of or prior to the Effective Date between MatCo or any of its Affiliates, on the one hand, and any Third Party, on the other hand (subject to
Section 2.9 

  
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hereof), in each case (with respect to the foregoing subsections (i) and (ii)), solely to the extent reasonably necessary to perform AgCo’s and its Affiliates’ obligations as
Seller under the Manufacturing Product Agreements, including to manufacture for and supply to MatCo the Products under such Manufacturing Product Agreements in accordance with and subject to the terms thereof. 

(b)    Subject to the terms and conditions of this Agreement, AgCo hereby grants, and shall cause its Affiliates to
grant, to MatCo and its Affiliates a royalty-free, fully paid-up, worldwide non-exclusive license in, to and under (i) the AgCo Licensed IP and (ii) any other
Intellectual Property (except any Excluded IP) to the extent as of the Effective Date, AgCo or its Affiliates has the ability to grant the license set forth in this Section 2.3(b), and the related rights set forth herein,
on the terms and conditions set forth herein without violating any Contract entered into as of or prior to the Effective Date between AgCo or any of its Affiliates, on the one hand, and any Third Party, on the other hand (subject to
Section 2.9 hereof) (provided that, for any such Intellectual Property to be licensed by AgCo or any of its Affiliates under this Section 2.3(b) as of or prior to the AgCo
Distribution, such Intellectual Property also must constitute a Agriculture Asset), in each case (with respect to the foregoing subsections (i) and (ii)), solely to the extent reasonably necessary to perform MatCo’s and its
Affiliates’ obligations as Seller under the Manufacturing Product Agreements, including to manufacture for and supply to AgCo the Products under such Manufacturing Product Agreements in accordance with and subject to the terms thereof. 

(c)    The licenses granted in this Section 2.3 shall be sublicensable in writing to
subcontractors to the extent permitted under the applicable Manufacturing Product Agreements, in accordance with, and subject to, the terms of the applicable Manufacturing Product Agreements. 

Section 2.4    License to AgCo Licensed Standards. 

(a)    Subject to the terms and conditions of this Agreement, the applicable AgCo Licensors hereby grant, and AgCo shall
cause its Affiliates to grant, to the relevant MatCo Licensees, an irrevocable, royalty-free, fully paid-up, sublicensable (to the extent permitted in Section 2.8), transferable
(subject to Section 10.2), non-exclusive license to use the AgCo Licensed Standards at the Licensed Facilities solely in connection with the conduct of the Materials Science Business
by MatCo or any of its Affiliates. Without limiting the foregoing, the grant in this Section 2.4 includes a right and license to use, reproduce, distribute, display, perform, adapt, modify and create derivative works of the
AgCo Licensed Standards by and among the Authorized Users only for the licensed uses set forth in this Section 2.4. 

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

  
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 Section 2.5    Business Software License. Subject to the
terms and conditions of this Agreement, Licensor (or its Affiliate, as applicable) hereby grants, and shall cause its Affiliates to grant, to Licensee (or its Affiliate, as applicable) an irrevocable, royalty-free, fully paid-up, sublicensable (to the extent permitted in Section 2.8), transferable (subject to Section 10.2), worldwide,
non-exclusive license to its Business Software for use solely in connection with, if such Licensee is AgCo, the Agriculture Business or, if such Licensee is MatCo, the Materials Science Business. 

Section 2.6    Heritage Products License. 

(a)    Subject to the terms and conditions of this Agreement, The Dow Chemical Company hereby grants, and MatCo shall
cause its Affiliates to grant, to E. I. du Pont de Nemours and Company an irrevocable (subject to Section 8.3), royalty-free, fully paid-up, sublicensable (to the extent permitted in
Section 2.8), transferable (subject to Section 10.2), worldwide, non-exclusive license to any and all Patents that (i) were Controlled by E. I. du Pont
de Nemours and Company or any of its then-Affiliates as of immediately prior to the Merger Time and (ii) are Controlled by MatCo or any of its Affiliates as of the Effective Date as a result of the Internal Reorganization, together with, to the
extent Controlled by MatCo or any of its Affiliates as of or following the Effective Date, continuations, divisionals, renewals, continuations-in-part, patents of
addition, restorations, extensions, supplementary protection certificates, reissues and re-examinations of, and all other Patents that claim priority to, such Patents and foreign equivalents thereof, in each
case to the extent the claims are supported by such Patents (the foregoing, collectively, the “MatCo Transferred Patents”) to make (including have made), use, sell, offer for sale, import, and export, solely in the AgCo Know-How Field, products sold commercially by or on behalf of E. I. du Pont de Nemours and Company and its then-Affiliates at any time prior to the Merger Time, other than products included in the Specialty Products
Business or the Materials Science Business (the “AgCo Heritage Products”) in the same manner (in all material respects) as such AgCo Heritage Products were made, used, sold, offered for sale, imported and exported by such Persons
prior to the Merger Time (the “AgCo Restricted Heritage Uses”) and updates, enhancements, modifications and similar evolutions thereof in which the essential character of such AgCo Heritage Product and AgCo Restricted Heritage Use
are retained in all material respects. Solely to the extent its rights to such product derive from the license granted under this Section 2.6(a), and upon MatCo’s written request identifying such product or use, AgCo
shall reasonably promptly demonstrate (and shall use commercially reasonable efforts to demonstrate within sixty (60) days following such request) to MatCo by clear and convincing evidence comprised of contemporaneous written records (which
records shall be in a form consistent with the form that commercial sales (with respect to a purported AgCo Heritage Product) or actual use (with respect to a purported AgCo Restricted Heritage Use) was documented by AgCo (or its predecessors in
interest)) created prior to the Merger Time in the ordinary course of business that a product qualifies as an AgCo Heritage Product (or an update, enhancement, modification or similar evolution thereof within the scope of the foregoing license
grant) and that the use thereof qualifies as an AgCo Restricted Heritage Use (or an update, enhancement, modification or similar evolution thereof within the scope of the foregoing license grant). 

  
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 (b)    Subject to the terms and conditions of this Agreement, the
applicable AgCo Licensors hereby grant, and AgCo shall cause its Affiliates to grant, to Performance Materials NA, Inc. an irrevocable (subject to Section 8.3), royalty-free, fully
paid-up, sublicensable (to the extent permitted in Section 2.8), transferable (subject to Section 10.2), worldwide,
non-exclusive license to any and all Patents that (i) were Controlled by the Dow Chemical Company or any of its then-Affiliates as of immediately prior to the Merger Time, (ii) are Controlled by AgCo
or any of its Affiliates as of the Effective Date as a result of the Internal Reorganization, together with, to the extent Controlled by AgCo or any of its Affiliates as of or following the Effective Date, continuations, divisionals, renewals, continuations-in-part, patents of addition, restorations, extensions, supplementary protection certificates, reissues and
re-examinations of, and all other Patents that claim priority to, such Patents and foreign equivalents thereof, in each case to the extent the claims are supported by such Patents (the foregoing, collectively,
the “AgCo Transferred Patents”) to make (including have made), use, sell, offer for sale, import, and export, solely in the MatCo Know-How Field, products sold commercially by or on behalf of
the Dow Chemical Company and its then-Affiliates at any time prior to the Merger Time, other than products included in the Agriculture Business or the Specialty Products Business (the “MatCo Heritage Products”) in the same manner
(in all material respects) as such MatCo Heritage Products were made, used, sold, offered for sale, imported and exported by such Persons prior to the Merger Time (the “MatCo Restricted Heritage Uses”) and updates, enhancements,
modifications and similar evolutions thereof in which the essential character of such MatCo Heritage Product and MatCo Restricted Heritage Use are retained in all material respects. Solely to the extent its rights to such product derive from the
license granted under this Section 2.6(b), and upon AgCo’s written request identifying such product or use, MatCo shall reasonably promptly demonstrate (and shall use commercially reasonable efforts to demonstrate
within sixty (60) days following such request) to AgCo by clear and convincing evidence comprised of contemporaneous written records (which records shall be in a form consistent with the form that commercial sales (with respect to a purported
MatCo Heritage Product) or actual use (with respect to a purported MatCo Restricted Heritage Use) was documented by MatCo (or its predecessors in interest)) created prior to the Merger Time in the ordinary course of business that a product qualifies
as a MatCo Heritage Product (or an update, enhancement, modification or similar evolution thereof within the scope of the foregoing license grant) and that the use thereof qualifies as a MatCo Restricted Heritage Use (or an update, enhancement,
modification or similar evolution thereof within the scope of the foregoing license grant). 

Section 2.7    Wrong Pockets. 

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

(i)    a Notifying Party identifies a Patent Controlled by the other Party as of the Effective Date that is
not included in the Licensed Patents licensed to such Notifying Party, and such Notifying Party reasonably believes that such Patent was Used in the Agriculture Business or the Materials Science Business, as applicable, as of the Effective Date; or

  
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 (ii)    a Notifying Party identifies a Use by such
Notifying Party of a Licensed Patent that is not (1) in the case of a Notifying Party that Controls such Licensed Patent, within the scope of its retained rights (i.e., such use is within the scope of the Receiving Party’s
exclusively licensed field of use with respect to such Patent hereunder) or (2) in the case of a Notifying Party that is the Licensee, within such Notifying Party’s licensed field of use hereunder (i.e., such use is not captured by
any MatCo Patent Field or AgCo Patent Field, as applicable), and, in each case (in respect of the foregoing (1) and (2)), such Notifying Party reasonably believes that the Use of such Licensed Patent as of the Effective Date was within the
Agriculture Business (if AgCo is the Notifying Party) or the Materials Science Business (if MatCo is the Notifying Party). 

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

(c)    Unless otherwise agreed in writing by the Parties, if a Notifying Party provides a Wrong Pockets Notice in
accordance with Section 2.7(a), the Notifying Party shall, within sixty (60) days of providing the Wrong Pockets Notice, demonstrate to the Receiving Party by clear and convincing evidence (the “Evidentiary
Requirement”) that the identified Patent was Used in the manner identified in the Wrong Pockets Notice within the Agriculture Business (if the Notifying Party is AgCo) or the Materials Science Business (if the Notifying Party is MatCo) as
of the Effective Date (such evidence, the “Demonstration of Use”). The Receiving Party shall notify the Notifying Party in writing within thirty (30) days of receipt of the Demonstration of Use whether it reasonably believes in
good faith that the Demonstration of Use satisfies the Evidentiary Requirement. Solely to the extent (with respect to the Patent and Use identified in the applicable Wrong Pockets Notice) that the Demonstration of Use satisfies the Evidentiary
Requirements (whether determined by the Receiving Party in accordance with the foregoing, or in accordance with Section 9.1), or if the Receiving Party fails to provide the Notifying Party with a response regarding whether
the Demonstration of Use satisfies the Evidentiary Requirements within the applicable thirty (30) day period in accordance with the foregoing, such Patent shall be licensed to the Notifying Party for such Use (in the case of a Wrong Pockets
Notice described in Section 2.7(a)(i)) (each such Patent, a “Wrong Pockets Patent”), such Use shall be included in the Notifying Party’s retained field of use with respect to such Patent (in the case
of a Wrong Pockets Notice described in subsection (1) of Section 2.7(a)(ii)), or such Use shall be included in the Notifying Party’s field of use for such Patent (in the case of a Wrong Pockets Notice described in
subsection (2) of Section 2.7(a)(ii)), as applicable, in each case, as further described in the following subsections (i) through (iii). 

(i)    Subject to the foregoing in this Section 2.7(c), unless otherwise agreed
in writing by the Parties, with respect to a Wrong Pockets Notice described in Section 2.7(a)(i), each Patent identified in such notice (if the Demonstration of Use therefor satisfies the Evidentiary Requirement or the
Receiving Party fails to provide the Notifying Party with a response in accordance with this Section 2.7(c)) shall be a MatCo Non-Exclusively Licensed Patent if AgCo is the Notifying
Party or an AgCo Non-Exclusively Licensed Patent if MatCo is the Notifying Party, and for clarity, the license to the Notifying Party 

  
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therefor shall be non-exclusive and the field for which it is licensed pursuant to this Agreement (which, for clarity, shall be deemed to be an AgCo Non-Exclusive Patent Field if AgCo is the Notifying Party and a MatCo Non-Exclusive Patent Field if MatCo is the Notifying Party) shall be limited solely to the Use made by
such Notifying Party and its Affiliates as of the Effective Date (to the extent that the Demonstration of Use therefor satisfies the Evidentiary Requirement) and natural evolutions thereof, subject to the terms and conditions of any licenses and
other rights granted by or on behalf of Licensor or any of its Affiliates to any Third Parties with respect to such Patent prior to the date of the Wrong Pockets Notice. 

(ii)    Subject to the foregoing in this Section 2.7(c), unless otherwise agreed
in writing by the Parties, with respect to a Wrong Pockets Notice described in subsection (1) of Section 2.7(a)(ii), each Use for a Licensed Patent identified in the Wrong Pockets Notice in the Notifying Party’s
retained field of use for such Patent (to the extent the Demonstration of Use therefor satisfies the Evidentiary Requirement or the Receiving Party fails to provide the Notifying party with a response in accordance with this
Section 2.7(c)) shall be deemed to be an AgCo Non-Exclusive Patent Field if AgCo is the Receiving Party and a MatCo Non-Exclusive Patent Field
if MatCo is the Receiving Party, and such Use and natural evolutions thereof shall no longer be included in the exclusive field for which such Patent is licensed to the Receiving Party pursuant to this Agreement; provided that the
rights with respect to such Use retained by the Notifying Party shall be subject to the terms and conditions of any licenses and other rights granted by or on behalf of the Receiving Party or any of its Affiliates to any Third Parties with respect
to such Patent prior to the date of the Wrong Pockets Notice. 
 (iii)    Subject to the foregoing in
this Section 2.7(c), unless otherwise agreed in writing by the Parties, with respect to a Wrong Pockets Notice described in subsection (2) of Section 2.7(a)(ii), each Use for a Licensed Patent
identified in the Wrong Pockets Notice (to the extent that Demonstration of Use therefor satisfies the Evidentiary Requirement or the Receiving Party fails to provide the Notifying Party with a response in accordance with this
Section 2.7(c)) and natural evolutions thereof shall be deemed to be an AgCo Non-Exclusive Patent Field if AgCo is the Notifying Party and a MatCo
Non-Exclusive Patent Field if MatCo is the Notifying Party and the license granted to such field shall be nonexclusive; provided that the rights with respect to such Use retained by the Notifying
Party shall be subject to the terms and conditions of any licenses and other rights granted by or on behalf of the Receiving Party or any of its Affiliates to any Third Parties with respect to such Patent prior to the date of the Wrong Pockets
Notice. 
 (d)    Notwithstanding anything to the contrary herein, unless otherwise agreed upon by the Parties, each
Party shall only have two (2) years after the Effective Date to provide a Wrong Pockets Notice pursuant to Section 2.7(a) to the other Party; provided that, in the case of
Section 2.7(a)(i), with respect to Patent applications filed prior to the Effective Date, such period shall extend until the date that is six (6) months after the publication of such Patent application if the
expiration of such six (6) month period occurs after such two (2) year period expires. 

  
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 (e)    Notwithstanding the foregoing Sections 2.7(a) through
(d), unless and only to the extent that the Receiving Party provides its prior written consent (which the Receiving Party may withhold in its sole discretion), in the event that the Parties expressly discussed prior to the Effective Date
that: 
 (i)    any Patent would not be included in the Notifying Party’s Licensed Patents in the
case of a Wrong Pockets Notice described in Section 2.7(a)(i), such Patent shall not be included in the Notifying Party’s Licensed Patents (provided that, in determining that such Patent would not be a
Licensed Patent hereunder, the Parties discussed prior to the Effective Date the Use identified in the Wrong Pockets Notice for such Patent); 

(ii)    any Use would not be included in the Notifying Party’s retained field of use for a specific
Licensed Patent in the case of a Wrong Pockets Notice described in subsection (1) of Section 2.7(a)(ii), such Use shall not be included in the Notifying Party’s retained field of use for such Patent; and 

(iii)    any Use would not be included in the Notifying Party’s field of use for a specific Licensed
Patent in the case of a Wrong Pockets Notice described in subsection (2) of Section 2.7(a)(ii) (as applicable), such Use shall not be included in the Notifying Party’s licensed field of use for such Patent. 

(f)     For clarity, (i) AgCo and its Affiliates shall not be required to submit a Wrong Pockets Notice with respect
to any AgCo Restricted Heritage Use of an AgCo Heritage Product under an AgCo Transferred Patent or any update, enhancement, modification or similar evolution thereof licensed under Section 2.6, and (ii) MatCo and its
Affiliates shall not be required to submit a Wrong Pockets Notice with respect to any MatCo Restricted Heritage Use of a MatCo Heritage Product under a MatCo Transferred Patent or any update, enhancement, modification or similar evolution thereof
licensed under Section 2.6. 
 Section 2.8    Sublicenses. 

(a)    Licensee may sublicense the license and rights granted to Licensee under Sections 2.1, 2.2,
2.4, 2.5 and 2.6 (as applicable) to (a) its Affiliates and (b) Third Parties in connection with the operation of the business of Licensee or its Affiliates, but not for the independent use of any such Third Party,
including distributors that need to practice the applicable Intellectual Property to provide ordinary course distribution services to Licensee and its Affiliates; provided that, with respect to the AgCo Licensed Standards, sublicensing
to such Third Parties shall be solely for such Third Parties to provide services to the Materials Science Business in the ordinary course at any or all Licensed Facilities (but not for the independent use of such Third Party), and (c) with the
prior written consent of Licensor, other Third Parties (each such Affiliate or Third Party, or subcontractor granted a sublicense under Section 2.3, a “Sublicensee”). 

  
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 (b)    Each sublicense granted by a Licensee under the license granted
to such Licensee in Sections 2.1, 2.2, 2.4, 2.5 and 2.6 shall be granted pursuant to an agreement that (i) is subject to, and consistent with, the terms and conditions of this Agreement and includes provisions
at least as protective of Licensor and its Affiliates as the provisions of this Agreement (except that such sublicense shall not be required to provide rights for Licensor to audit Sublicensee in accordance with, and subject to,
Section 2.13 (1) if the sublicense is granted to an Affiliate, (2) with respect to sublicenses of Licensed Know-How, Licensed Copyrights or Business Software where the primary
purpose of such arrangement with sublicensee is not to grant access to such Licensed Know-How, Licensed Copyrights or Business Software or (3) with respect to sublicenses of the licenses granted under
Section 2.6), (ii) to the extent with respect to Licensed Patents or AgCo Licensed Standards and if Sublicensee is a Third Party, provides that Licensor shall be an intended beneficiary thereunder with the right of direct
enforcement against the Sublicensee (including, for clarity, with respect to the audit rights set forth in Section 2.13 to the extent applicable), and (iii) to the extent with respect to Licensed Patents or AgCo
Licensed Standards, is in writing if the Sublicensee is a Third Party. For clarity, granting a sublicense shall not relieve Licensee of any obligations hereunder and Licensee shall cause each of its Sublicensees to comply, and shall remain
responsible for its Sublicensees’ compliance, with the terms hereof applicable to Licensee. 

Section 2.9    Third Party Rights. 

(a)    Notwithstanding anything to the contrary herein, the terms and conditions of this Agreement (including the
licenses granted under Sections 2.1 through 2.6) are subject to any and all rights of and obligations owed to any Third Parties with respect to the Licensed IP under any Contracts existing as of the Effective Date (or in the case of
any Wrong Pockets Patents, existing as of or prior to the date of the Wrong Pockets Notice) to which Licensor or any of its Affiliates is a party or is otherwise bound, and to the extent that, as a result of such rights or obligations, any license
or other rights granted hereunder: (i) may not be granted without the consent of or payment of a fee or other consideration; or (ii) will cause Licensor or any of its Affiliates to be in breach of any of its or their obligations to any
Third Party, the applicable licenses and other rights granted hereunder shall only be granted to the extent such consent has been obtained or such fee or other consideration has been paid. Except for any Intellectual Property licensed pursuant to
Section 2.3, the Parties shall use commercially reasonable efforts to obtain any such consents to the extent required to grant Licensee the rights granted hereunder; provided that, (i) the foregoing shall
not require the Parties to duplicate any obligations undertaken under the Separation Agreement and (ii) notwithstanding anything herein to the contrary, Licensor shall have no obligation to agree to or make any payments or other concessions,
except as mutually agreed in writing between the Parties, or participate in any act or omission that will cause Licensor to be in breach of its or their obligations to any Third Party. Notwithstanding the foregoing, Licensee shall not be deemed in
breach of this Section 2.9(a) only if, and for such time, Licensee is not aware of such rights of or obligations owed to such Third Party. 

(b)    Notwithstanding anything to the contrary herein, Third Party Payments, if any, with respect to the Licensed IP
(except for any Intellectual Property licensed under Section 2.3) shall be Licensee’s sole responsibility. Licensee shall pay the Third Party Payments directly to the applicable Third Party; provided that
if such Third Party does not permit 

  
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Licensee to pay such Third Party Payments to such Third Party directly (whether pursuant to the applicable Contract or otherwise) after the Parties have used commercially reasonable efforts to
permit the Licensee to pay the Third Party directly, the Parties shall cooperate in good faith to ensure that such Third Party Payments are paid by Licensee to Licensor in a manner that ensures Licensor’s payment thereof is in compliance with
the obligations to the applicable Third Party. Such cooperation shall include Licensee (i) preparing and providing Licensor with reasonably detailed written reports reflecting calculation of the applicable Third Party Payments and any other
information required by the applicable Third Parties and (ii) paying Licensor the applicable Third Party Payments by wire transfer of immediately available funds to the bank account designated by Licensor in writing no less than ten
(10) days prior to the due date of such payment pursuant to the terms of the applicable Contract. If either Party becomes aware of any Third Party Payments, it shall reasonably promptly notify the other Party in writing, and notwithstanding
anything to the contrary in this Section 2.9(b), Licensee shall not be deemed in breach of this Section 2.9(b) if, and for such time, Licensee is not aware of the applicable Third Party Payments;
provided that, upon learning of such Third Party Payments, Licensee shall promptly pay such Third Party Payments to the applicable Third Party directly (or such other Person as reasonably directed by Licensor) to the extent such Third
Party Payments are past due. 
 (c)    Certain agreements subject to Subsections (a) and (b) hereof are set forth
on Schedule U hereto. 
 Section 2.10    No Use or Promotion Outside Field. Each Party shall
not, and shall cause its Affiliates to not: (a) as Licensee, exercise rights under any Licensed IP except to the extent expressly licensed hereunder or expressly agreed upon in advance in writing by Licensor, and (b) without limiting the
foregoing, (1) if such Party is MatCo, Promote use of products or services (A) Covered by an issued AgCo Licensed Patent outside the MatCo Patent Field, or (B) Covered by an issued MatCo Licensed Patent in the AgCo Exclusive Patent
Field, or (2) if such Party is AgCo, Promote products or services (x) Covered by an issued MatCo Licensed Patent outside the AgCo Patent Field, or (y) Covered by an issued AgCo Licensed Patent in the MatCo Exclusive Patent Field (the
field of use restrictions described in the foregoing clauses (1) and (2), “Field Restrictions”). There shall be no affirmative obligation hereunder on either Party to monitor its customers’ use of such Party’s
products or services. For clarity, products or services sold by a Party under this Agreement are not authorized sales under the Patent licenses granted herein for any use outside the Field Restrictions. 

Section 2.11    Reservation of Rights. Each Party reserves its and its Affiliates’ rights in and to all
Intellectual Property that is not expressly licensed or otherwise granted hereunder. Without limiting the foregoing, this Agreement and the licenses and rights granted herein do not, and shall not be construed to, confer any rights upon either
Party, its Affiliates, or its Sublicensees by implication, estoppel, or otherwise as to any of the other Party’s Intellectual Property (including, for clarity, any Excluded IP, except to the extent expressly licensed under
Section 2.4). 
 Section 2.12    Retention and Transfer of Licensed Know-How. 
 (a)    If AgCo or MatCo (the “Requesting Party”)
reasonably believes that any Know-How Materials are in possession or control of the other Party (such Party, the 

  
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“Holding Party”) or any of its Affiliates and such Know-How Materials are not in the possession or control of the Requesting Party or any
of its Affiliates, and the Requesting Party makes a request in writing during the two (2) year period following the Effective Date that the Holding Party deliver the Know-How Materials to the Requesting
Party, the Holding Party shall review such request and, to the extent in the possession or control of the Holding Party or any of its Affiliates and, for purposes of Business Software only, is reasonably accessible to the Holding Party for purposes
of transfer to the Requesting Party (provided that, subject to the below provisos, such accessibility shall not take into account whether such Business Software is integrated with other Software), deliver the
Know-How Materials to the Requesting Party as promptly as reasonably practicable and in any event within thirty (30) Business Days of receiving such request from the Requesting Party; provided
that, the Holding Party shall notify the Requesting Party within such thirty (30) Business Day period if it reasonably believes that such request requires a longer period of review to determine if the request concerns MatCo Licensed Know-How, AgCo Licensed Know-How, MatCo Licensed Copyrights, AgCo Licensed Copyrights, AgCo Licensed Standards or Business Software (as applicable) or to locate the applicable
Know-How Materials, and the Holding Party shall take all reasonable steps to review and provide such Know-How Materials (as applicable) within an additional sixty
(60) days of expiration of such initial thirty (30) Business Day period; provided, further, with respect to any Business Software requested by a Requesting Party hereunder that is integrated with other Software, the Parties
shall discuss in good faith a reasonable deadline in lieu of the foregoing timing for delivering any such Business Software to the Requesting Party, and the Requesting Party agrees that it shall bear all reasonable out-of-pocket costs and expenses of preparing such Software for delivery subject to the Requesting Party’s advance approval of such costs; provided, further, to the extent the request does
not constitute MatCo Licensed Know-How, MatCo Licensed Copyrights or Business Software (if the Requesting Party is AgCo) or AgCo Licensed Know-How, AgCo Licensed
Copyrights, AgCo Licensed Standards, or Business Software (if the Requesting Party is MatCo), the Holding Party shall not be required to deliver such Know-How Materials to the Requesting Party, but shall
provide the Requesting Party with an explanation in reasonable detail of the basis of such determination and shall make itself and its relevant Affiliates available to discuss in good faith with the Requesting Party. 

(b)    For clarity, and notwithstanding anything to the contrary, in no event shall Licensor or its Affiliates be
required hereunder to provide any written, electronic, computerized, digital or other tangible or intangible media to the extent comprising, containing, reflecting or embodying any MatCo Licensed Know-How,
AgCo Licensed Know-How, MatCo Licensed Copyrights, AgCo Licensed Copyrights, AgCo Licensed Standards, or Business Software to Licensee, that (i) has already been provided to, or is in the possession of,
Licensee or its Affiliates or (ii) is used to make any Products. For the avoidance of doubt, nothing in this Agreement shall be interpreted as requiring that Licensor or any of its Affiliates transfer or grant access to tangible biological
material to Licensee or any of its Affiliates. 
 Section 2.13    Audit. Not more than once per year, or at
any time a Party has a reasonable, good faith belief that the other Party has materially breached this Agreement, or (to the extent with respect to this Agreement) the Umbrella Secrecy Agreement, and provides written notice to such other Party as
well as detailed documentation or other evidence of such alleged breach, upon thirty (30) days’ advance written notice, such first Party may cause an independent Third Party auditor that is reasonably acceptable to the audited Party and
subject to 

  
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written confidentiality obligations that are reasonably acceptable to the audited Party to audit, during regular business hours and in a manner that complies with the reasonable building and
security requirements of the audited Party and its Affiliates, the books, records and facilities of such audited Party and its Affiliates to the extent reasonably necessary to determine such audited Party’s and its Affiliates’ compliance
with this Agreement or (to the extent with respect to this Agreement) the Umbrella Secrecy Agreement. Any audit conducted under this Section 2.13 shall not interfere unreasonably with the operations of such audited Party or
any of its Affiliates. The Party requesting the audit shall pay the costs of conducting such audit; provided that if such audit reveals a material breach of this Agreement or (to the extent with respect to this Agreement), the Umbrella
Secrecy Agreement, the audited Party shall pay all such costs. Upon conclusion of the audit, the Third Party auditor shall furnish to both Parties a report stating only its findings during such audit as to whether or not the audited Party is in
compliance with this Agreement, and if such audit has revealed a breach, shall include no more information than is reasonably necessary to provide the basis for such finding. All information learned or obtained from such audit shall be deemed
Confidential Information for purposes of this Agreement. Notwithstanding anything to the contrary in this Section, the audited Party may require that the Third Party conducting the audit pursuant to this Section 2.13 be
accompanied by the audited Party’s (and in the case of an audit of its Affiliates or Sublicensees, its Affiliate’s or its Sublicensee’s, respectively) representatives at all times during such audit. For clarity, Licensee shall cause
its Affiliates that are Sublicensees to comply with this Section 2.13. 
 ARTICLE III 

OWNERSHIP 

Section 3.1    Ownership. As between the Parties (including their respective Affiliates), (a) AgCo
acknowledges and agrees that MatCo and its Affiliates own the MatCo Licensed IP, the Intellectual Property licensed to AgCo under Section 2.3(a), the Business Software licensed to AgCo under
Section 2.5, and the Patents Controlled by MatCo or any of its Affiliates and licensed under Section 2.6, (b) MatCo acknowledges and agrees that AgCo and its Affiliates own the AgCo Licensed IP,
the Intellectual Property licensed to MatCo under Section 2.3(b) and Section 2.4, the Business Software licensed to MatCo under Section 2.5, and the Patents Controlled by
AgCo or any of its Affiliates and licensed under Section 2.6, and (c) each Party acknowledges and agrees that (i) except to the extent expressly provided herein, neither Party, nor its Affiliates or its
Sublicensees, will acquire any ownership rights in the Licensed IP licensed to such Party hereunder, and (ii) such Party shall not, and shall cause its Affiliates and its Sublicensees to not, represent or make any claim that they have ownership
of any right, title or interest in any such Licensed IP. To the extent that a Party, its Affiliates or its Sublicensees (as applicable) is assigned or otherwise obtains ownership of any right, title or interest in or to any Licensed IP in
contravention of this Section 3.1, such Party hereby assigns, and shall cause its Affiliates and Sublicensees (as applicable) to assign, to the other Party (or to such Affiliate or Third Party designated by such other Party
in writing) all such right, title and interest. 

  
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 ARTICLE IV 

PROSECUTION AND MAINTENANCE 

Section 4.1    Responsibility and Cooperation. 

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

(b)    If, during the Term, Licensor decides to abandon, or otherwise allow to lapse, any issued AgCo Licensed Patent (if
AgCo is the Licensor) or MatCo Licensed Patent (if MatCo is the Licensor) or published application therefor, Licensor shall use commercially reasonable efforts to notify Licensee of such decision at least thirty (30) days prior to any deadline
for taking action to avoid abandonment (or other loss of rights) of such Patent. Upon receipt of such notice, Licensee shall have the right to elect to assume responsibility for such prosecution and maintenance solely by providing Licensor with
written notice of such election within thirty (30) days (or such shorter period requested where the final deadline is in less than thirty (30) days) following such notice from Licensor, and Licensor shall either: (i) withdraw its
decision to abandon and continue prosecuting or maintaining such Patent at its expense; or (ii) assign, and hereby does assign, its entire right, title, and interest in such Patent to Licensee at Licensee’s sole cost and expense
(provided that, for clarity, Licensee shall not be required to pay any additional consideration to Licensor in exchange for such assignment, but shall be required to reimburse Licensor for its out-of-pocket costs and expenses incurred in connection with assigning such Patent); provided that, Licensor shall not be in breach of the foregoing if Licensor uses commercially reasonable
efforts to notify Licensee of its decision to abandon (or otherwise lose rights) but inadvertently and in good faith fails to so notify Licensee. In the event that Licensor assigns a Licensed Patent to Licensee in accordance with the foregoing
clause (ii), such Patent shall no longer be (i) if the Licensor is AgCo, an AgCo Licensed Patent and instead shall be a MatCo Non-Exclusively Licensed Patent, for which the applicable AgCo Non-Exclusive Patent Field shall be all fields of use other than the MatCo Exclusive Patent Field applicable to such Patent (if any), or (ii) if the Licensor is MatCo, a MatCo Licensed Patent and instead shall
be an AgCo Non-Exclusively Licensed Patent, for which the applicable MatCo Non-Exclusive Patent Field shall be all fields of use other than the AgCo Exclusive Patent
Field applicable to such Patent (if any). Notwithstanding anything to the contrary herein, in the event that any Licensed Patent is assigned to Licensee pursuant to this Section, such Licensed Patent shall be subject to the terms and conditions of
any licenses and other rights granted by or on behalf of Licensor or any of its Affiliates with respect to such Licensed Patent prior to the date of such assignment (to the extent that such terms and conditions do not conflict with any of the terms
hereof), and unless otherwise agreed in writing, the assignee Party may abandon such Patent without notice or obligation of assignment to the other Party. 

(c)    For clarity, Licensor’s obligations under Section 4.1(b) do not apply to the
(i) filing or validating of any national or regional applications based on any international or regional Patent applications or filings (including any PCT or EPO applications) whether or not designated under such applications or filings,
(ii) filing of any Patent application, including the 

  
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filing of any divisional, continuation or continuation-in-part application, or (iii) maintaining or
prosecuting of any unpublished Patent applications. If any Licensed Patent subject to this Section 4.1 is subject to the terms of any Contract existing as of the Effective Date to which the Licensor or any of its Affiliates
is a party or otherwise bound whereby a Third Party has the right to elect to assume responsibility for prosecution or maintenance of, or request assignment of, such Licensed Patent, and such Third Party elects not to exercise all such rights in
such Licensed Patent, such Licensed Patent shall become subject to the terms of Section 4.1(b), except if Licensor’s grant of such rights to Licensee, or Licensee’s exercise of such rights, would breach any
contractual rights or obligations owed to such Third Party or any of its Affiliates. Licensor shall ensure that all current and future owners of the Licensed Patents are subject to the obligations to assign such Licensed Patents to Licensee
contained in this Section 4.1. 
 (d)    Upon the reasonable request of the Party that
controls filing, prosecution or maintenance of any Exclusively Licensed IP in accordance with Section 4.1(a) or 4.1(b), the other Party (i.e., the recipient of the exclusive license) shall provide reasonable
assistance to such Party in connection with such activities (including by providing information, obtaining signatures and authorizations, and taking such other actions as may be required by applicable Law), and such requesting Party shall reimburse
such other Party’s out-of-pocket costs incurred in connection therein. For clarity, neither such other Party nor any of its Affiliates shall be required by the
foregoing in this Section 4.1 to take or omit to take any action that it reasonably believes contravenes any applicable Law. 

Section 4.2    No Additional Obligations. For clarity, this Agreement shall not obligate either Party to
disclose to the other Party, or maintain, register, monitor, prosecute, pay for or offer to pay for (including by offering remuneration to any inventors), defend, enforce or otherwise manage any Intellectual Property, except to the extent expressly
set forth herein. 
 Section 4.3    Third Party Agreements. For clarity, and notwithstanding anything to
the contrary in this Article IV, the Parties’ rights and obligations set forth in this Article IV shall be subject to the terms of any Contracts existing as of the Effective Date to which the Licensor or any of its Affiliates is a
party or otherwise bound, subject to the requirements for Licensor to notify Licensee pursuant to Section 2.9. 

ARTICLE V 

ENFORCEMENT 

Section 5.1    Notice. With respect to any Licensed IP, Licensee shall promptly notify Licensor in writing of
(a) any Third Party activities that constitute, or would reasonably be expected to constitute, an infringement, misappropriation or other violation within the exclusive field for which Licensee has been granted a license hereunder of any such
Licensed IP licensed to Licensee hereunder or (b) any Third Party allegations of invalidity or unenforceability of any Exclusively Licensed IP licensed to Licensee hereunder (each of the foregoing (a) and (b), a “Third Party
Infringement”); provided that an attorney in Licensee’s or its Affiliates’ in-house legal department becomes aware of and reasonably believes that such Third Party Infringement
may have occurred (provided that, for clarity, Licensee shall have no obligation to independently investigate or conduct any infringement or other analysis of the conduct alleged to constitute a Third Party Infringement) and Licensee
reasonably believes that such Third Party Infringement could be material to Licensor. 

  
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 Section 5.2    Defense and Enforcement. 

(a)    Licensor First Right. Subject to the remainder of this Section 5.2, as between
the Parties, Licensor shall have the first right, but not the obligation, at its own cost and expense, to control enforcement or defense against any Third Party Infringement of the Licensed IP under which Licensor is granting a license to Licensee
hereunder (including by bringing an Action or entering into settlement discussions). 

(b)    Licensee’s Rights. 

(i)    As between the Parties, Licensee shall have the right, but not the obligation, at its own cost and
expense, to control enforcement or defense against any Third Party Infringement of the Exclusively Licensed IP with respect to which Licensee is granted a license hereunder (including by bringing an Action or entering into settlement discussions) if
(1) Licensor provides Licensee with written notice that it is not exercising its right to control enforcement of such Exclusively Licensed IP (as described in Section 5.2(a)) and that Licensee may do so at its option,
or (2) Licensor fails to initiate, or file the relevant response to, the Action (if any), or commence settlement discussions, with respect to the applicable Third Party Infringement prior to or upon the earlier of (A) expiration of the one
hundred eighty (180) day period following first receipt by either Party of notice from the other Party of such Third Party Infringement or (B) ten (10) Business Days prior to the deadline for filing, or filing the applicable response to,
such Action (if any). Licensor shall use commercially reasonably efforts to notify Licensee of a decision not to exercise its right to control enforcement or defense, as applicable, with respect to any Exclusively Licensed IP, but shall have no
liability for any good faith, inadvertent failure to so notify Licensee. Notwithstanding the foregoing, Licensee shall not have any right to control such enforcement or defense pursuant to the foregoing if Licensor provides Licensee with written
notice that it is not exercising its right to control enforcement or defense, as applicable, of such Licensed IP (as described in Section 5.2(a)) and that it has reasonably determined in good faith that the Licensed IP
should not be enforced or defended at such time, and provides Licensee an opportunity to discuss such reasoning in good faith with Licensor. 

(ii)    In the case of any infringement, misappropriation, or other violation, or any Third Party
allegations of invalidity or unenforceability, of any Licensed IP non-exclusively licensed to Licensee hereunder, Licensee may request (which request Licensor may deny if Licensor reasonably determines that
such Licensed IP should not be enforced or defended, and discusses its reasoning therefor with Licensee) that Licensor enforce or defend (as applicable) such Licensed IP (including by bringing an Action or entering into settlement discussions), and
if such request is granted, such enforcement or defense (as applicable) shall be controlled by Licensor at Licensee’s sole cost and expense. 

  
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 (c)    Cooperation. If the Party controlling enforcement or
defense of any Licensed IP against any Third Party Infringement in accordance with Section 5.2(a) or 5.2(b) (such Party, the “Controlling Party”) brings an Action or enters into settlement
discussions with respect thereto, the other Party shall provide reasonable assistance in connection therewith, at the Controlling Party’s request and such other Party shall be reimbursed for its reasonable out-of-pocket costs and expenses incurred in connection therewith. The Controlling Party shall keep the other Party regularly informed of the status and progress of such enforcement or defense, as applicable,
and shall reasonably consider the other Party’s comments in connection with any Action or settlement discussions with respect thereto. Notwithstanding anything to the contrary herein, such other Party may, at its sole discretion and cost and
expense, join as a party to any such Action; provided that, if necessary for standing purposes, such Party shall join such Action upon the Controlling Party’s reasonable request and the Controlling Party shall reimburse the other
Party’s reasonable out-of-pocket costs and expenses incurred in connection therewith. Such other Party shall have the right to be represented by counsel (which
shall act in an advisory capacity only, except for matters solely directed to such Party) of its own choice in any such Action at its own cost and expense (subject to reimbursement of such other Party’s costs and expenses as described in, and
subject to, the immediately preceding sentence). Notwithstanding the foregoing, in the event of enforcement or defense in accordance with Section 5.2(b)(ii), the Party that is not the Controlling Party shall be solely
responsible for all costs and expenses incurred pursuant to this Section 5.2(c). 

(d)    Settlements. Notwithstanding anything to the contrary herein, the Controlling Party shall not, without the
prior written consent (not to be unreasonably withheld, conditioned or delayed) of the other Party, settle any Third Party Infringement (i) with respect to the Exclusively Licensed IP, if doing so would (a) adversely affect the validity,
enforceability or scope, or admit non-infringement, of any such Exclusively Licensed IP that such other Party or its Affiliates are licensing to the Controlling Party hereunder or (b) specifically or by
operation of law, grant or waive any of the Controlling Party’s rights under any such Exclusively Licensed IP within the field that the Controlling Party or its Affiliates are granting an exclusive license to the other Party hereunder or
(ii) with respect to any Licensed IP, if doing so would give rise to liability or any other obligations of such other Party, its Affiliates or its Sublicensees for which the Controlling Party is unwilling or unable to, or otherwise does not,
provide full indemnification. 
 (e)    Recoveries. Any and all amounts recovered by the Controlling Party in
any Action regarding a Third Party Infringement or settlement with respect thereto shall, unless otherwise agreed (including in an agreement in connection with obtaining consent to settlement), be allocated first to reimburse the Controlling
Party’s out-of-pocket costs and expenses incurred in connection with such Action or settlement (including its obligations to the other Party pursuant to
Section 5.2(c)) and next to the other Party’s out-of-pocket costs and expenses incurred in connection with such Action or settlement. Any
and all remaining amounts recovered shall be (i) allocated proportionally between the Parties (provided that the Third Party Infringement to which such recovery relates is of the Exclusively Licensed IP and within the exclusive
field in which the applicable Licensee is granted a license hereunder) based on the impact of such Third Party Infringement on each Party’s relevant field of use or (ii) retained by the Controlling Party (provided that, for
purposes of this clause (ii), the Third Party Infringement to which such recovery relates is not of the Exclusively Licensed IP within the exclusive field in which the applicable Licensee is granted a license hereunder). 

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

Section 5.3    Third Party Agreements. For clarity, and notwithstanding anything to the contrary in this
Article V, the Parties’ rights and obligations set forth in this Article V shall be subject to the terms of any Contracts existing as of the Effective Date to which the Licensor or any of its Affiliates is a party or otherwise
bound, subject to the requirements for Licensor to notify Licensee pursuant to Section 2.9. 
 ARTICLE VI

 INDEMNIFICATION 

Section 6.1    Indemnification. 

(a)    Each Party (the “Indemnifying Party”) agrees to indemnify, release, defend and hold harmless the
other Party and its Affiliates and its and their directors, officers, agents, and successors (each, an “Indemnitee” and collectively, the “Indemnitees”) from and against any and all Indemnifiable Losses incurred or
suffered by any of the Indemnitees, to the extent arising out of, relating to or resulting from (a) breach by the Indemnifying Party of this Agreement; (b) if the Indemnifying Party is the Licensee, use of the Licensed IP hereunder by or
on behalf of such Party or its Sublicensees; and (c) if the Indemnifying Party is the Licensor, breach by or on behalf of Licensee, its Affiliates or its Sublicensees of any contractual rights of or contractual obligations owed to any Third
Parties with respect to the Licensed IP; provided that, prior to such breach, Licensor or any of its Affiliates is aware, and Licensee and its Affiliates are not aware, of such contractual rights or obligations, in each case (in
respect of the foregoing subsections (a) through (c)), except to the extent that such Indemnifiable Losses (i) are subject to indemnification by the other Party pursuant to this Section 6.1 or (ii) arise out
of fraud, bad faith, gross negligence or willful misconduct of the other Party or its Affiliates. 
 (b)    Except for
the entitlement to specific performance or other equitable remedy, each solely as contemplated by Section 10.12, the remedies provided in this Section 6.1 shall be deemed the sole and exclusive
remedies of the Parties with respect to the subject matter of this Agreement, and the Parties each hereby waive to the extent permitted by applicable Law any other remedy to which they or any of their respective Indemnitees are entitled to hereunder
at law or in equity with respect thereto. 
 Section 6.2    Indemnification Procedures. The indemnification
procedures set forth in Sections 8.5 through 8.10 of the Separation Agreement shall apply to the matters indemnified hereunder, mutatis mutandis. 

Section 6.3    Disclaimer of Representations and Warranties. EACH PARTY HEREBY ACKNOWLEDGES THAT, EXCEPT TO
THE EXTENT EXPRESSLY 

  
 31 

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

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

CONFIDENTIALITY 

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

TERM 

Section 8.1    Term. The terms of the licenses and other grants of rights (and related obligations) under
this Agreement (the “Term”) shall remain in effect (a) to the extent with respect to the Patents licensed hereunder and Licensed Copyrights, on a
Patent-by-Patent and Licensed Copyright-by-Licensed Copyright basis, until expiration,
invalidation or abandonment of such Licensed Patent or Licensed Copyright (as applicable), (b) to the extent with respect to any Licensed Know-How, until such Licensed
Know-How no longer constitutes Confidential Information; provided that, after expiration of the Term with respect to any Licensed Know-How, the licenses
granted hereunder to such Know-How shall survive such expiration in perpetuity, and (c) with respect to Business Software and AgCo Licensed Standards, in perpetuity. Notwithstanding the foregoing and
anything to the contrary herein, the licenses granted in Section 2.3 and rights and obligations of the Parties to the extent with respect thereto shall terminate on a Product-by-Product basis upon termination of the applicable Manufacturing Product Agreement with respect to such Product. 

  
 32 

 Section 8.2    Effect of Termination. 

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

Section 8.3    Patent Challenge. 

(a)    Patent Challenge Notice. In the event of a Patent Challenge by Licensee or any of its Affiliates against
any MatCo Scheduled Licensed Patents (if Licensor is MatCo) or AgCo Scheduled Licensed Patents (if Licensor is AgCo), Licensee shall notify Licensor promptly (but in no event more than ten (10) Business Days) after Licensee’s general
counsel or chief patent counsel (or if such position does not exist, any of Licensee’s or its Affiliates’ employees with substantially similar or greater seniority, and responsibilities that include substantially similar responsibilities)
first learns of such Patent Challenge (and if Licensor has not already been notified by Licensee of such Patent Challenge, Licensor shall use reasonable efforts to provide written notice to Licensee if Licensor’s chief patent counsel (or if
such position does not exist, any of Licensor’s or its Affiliates’ employees with substantially similar or greater seniority, and responsibilities that include substantially similar responsibilities) knows such Patent Challenge has been
filed) (each notice provided by either Party in accordance with this Section 8.3(a), the “Patent Challenge Notice”). Upon a Licensee Challenge Executive learning of such a Patent Challenge or, if earlier,
upon receipt of a Patent Challenge Notice in the event that such Patent Challenge Notice is provided by Licensor, Licensee shall promptly take all steps necessary (in accordance with applicable Law) to withdraw or have withdrawn such Patent
Challenge. 
 (b)    Discussion Process. In the event of a Patent Challenge by Licensee or any of its Affiliates
against any MatCo Scheduled Licensed Patents (if Licensor is MatCo) or AgCo Scheduled Licensed Patents (if Licensor is AgCo), without limiting Licensee’s obligations in Section 8.3(a), following Licensee’s written
request (provided such request is made no more than ten (10) Business Days after the Patent Challenge Notice is provided to either Party) (each such request, the “Discussion Notice”), each Party shall commence the escalation
process set forth in Sections 8.3(b)(i) through 8.3(b)(ii) below (the “Escalation Process”). 

(i)    Within ten (10) Business Days of Licensor’s receipt of the Discussion Notice from
Licensee, each Party’s respective presidents of any business unit or division to which the Patent Challenge relates (or if such position does not exist, any of Licensee’s or its Affiliates’ employees with substantially similar or
greater seniority, and responsibilities that include substantially similar 

  
 33 

 
responsibilities) and general counsels will commence discussions (which, for clarity, may be in person or via videoconference or teleconference) that will last for a period of no more than
fifteen (15) Business Days (unless otherwise agreed in writing by the Parties) (the period of such discussions, the “Initial Executive Officer Escalation Period”) regarding the Patent Challenge. 

(ii)    Following completion of the Initial Executive Officer Escalation Period, either Party may, on
written notice (“Escalation Notice”) to the other Party within five (5) Business Days of expiration of the Initial Executive Officer Escalation Period, submit such matter for discussion by their respective chief executive
officers. Such chief executive officers shall commence discussions regarding the applicable Patent Challenge (which, for clarity, may be in person or via videoconference or teleconference) within ten (10) Business Days of the Escalation Notice,
and such discussions will last for no more than ten (10) Business Days (unless otherwise agreed in writing by the Parties) (the period of such discussions, the “CEO Escalation Period”). 

(iii)    All offers, promises, conduct and statements, whether oral or written, made in the course of the
Escalation Process by any of the Parties or their Affiliates, their agents, employees, experts and attorneys are confidential, privileged and inadmissible for any purpose, including impeachment, in any arbitration or other proceeding involving the
Parties or any of their Affiliates and, in any Action, shall be governed by Rule 408 of the Federal Rules of Evidence and any applicable similar state or foreign rule, and evidence of such discussions shall not be admissible in any future Action
between the Parties, any of their Affiliates and/or any Indemnitee; provided that evidence that is otherwise admissible or discoverable shall not be rendered inadmissible or non-discoverable as a
result of its use in the negotiation or discussion. 
 (c)    Certain Inadvertent Patent Challenges. 

(i)    For purposes of this Section 8.3: 

(1)    “Inadvertent Patent Challenge” means each Patent Challenge by Licensee or its Affiliates that
(i) none of the Licensee Challenge Executives approved prior to or at the time of the filing of the Patent Challenge or (ii) none of the Licensee Challenge Executives that approved such Patent Challenge had actual knowledge at the time of
the filing of such Patent Challenge that the applicable MatCo Scheduled Licensed Patent or AgCo Scheduled Licensed Patent, as the case may be, was subject to the terms of this Section 8.3. All Patent Challenges are presumed
to be Inadvertent Patent Challenges absent clear and convincing evidence otherwise. 
 (2)    “Licensee
Challenge Executives” means (i) Licensee’s chief patent counsel, (ii) the president of any business unit or division to which the Patent Challenge relates, (iii) any executive officer of Licensee or (iv) any
executive officer of the ultimate parent entity of any member of Licensee’s Group at the time of such Patent Challenge (or, in each case of the foregoing (i) through (iv), if any such positions do not exist, any of Licensee’s or its
Affiliates’ employees with substantially similar or greater seniority, and responsibilities that include substantially similar responsibilities). 

  
 34 

 (ii)    In the case of an Inadvertent Patent Challenge, unless
otherwise agreed in writing by the Parties, Sections 8.3(c)(ii)(1) through 8.3(c)(ii)(4) below shall apply if and only if (x) Licensee has failed to withdraw, or have withdrawn, the Patent Challenge in accordance with
Section 8.3(a) (provided that such failure is a result of any Laws or other rules of any Governmental Entity or registrar with which such Patent Challenge was filed that preclude such withdrawal, and not
attributable in any respect to any delay (or other act or omission that could reasonably be anticipated to preclude such withdrawal) within the reasonable control of Licensee) and (y) if requested by Licensor and solely to the extent permitted
by applicable Law, as soon as reasonably practicable, Licensee submits (or has submitted) documentation to the applicable Governmental Entity or registrar retracting the arguments made in such Patent Challenge; provided, that, if Licensee has
provided a Discussion Notice to Licensor in accordance with Section 8.3(b), Licensor shall not exercise any of its rights or remedies set forth in Sections 8.3(c)(ii)(1) through 8.3(c)(ii)(4) until
(1) the CEO Escalation Period expires if an Escalation Notice is provided in accordance with Section 8.3(b)(ii) in respect of such Patent Challenge or (2) the Initial Executive Officer Escalation Period expires if
an Escalation Notice is not provided in accordance with Section 8.3(b)(ii) in respect of such Patent Challenge. 

(1)    In the case of the first such Inadvertent Patent Challenge (if any), Licensee shall pay Licensor fifty-million
dollars ($50,000,000) in liquidated damages, and Licensor may, at its option, terminate this Agreement to the extent with respect to any and all licenses and rights granted under this Agreement to such Licensee or any of its Affiliates, or convert
to non-exclusive any and all exclusive licenses granted under this Agreement to such Licensee or any of its Affiliates, with respect to all MatCo Patent Fields (if MatCo is the Licensee) or AgCo Patent Fields
(if AgCo is Licensee) for which any and all Licensed Patents that are the subject of such Patent Challenge are licensed to such Licensee or any of its Affiliates hereunder (including, for clarity, the licenses and rights to any and all other Patents
licensed to such Licensee and its Affiliates to the extent in such MatCo Patent Fields or AgCo Patent Fields, as applicable). 

(2)    In the case of the second such Inadvertent Patent Challenge (if any), Licensee shall pay Licensor one hundred
million dollars ($100,000,000) in liquidated damages, and Licensor may, at its option, terminate this Agreement to the extent with respect to any and all licenses and rights granted under this Agreement to such Licensee or any of its Affiliates, or
convert to non-exclusive any and all exclusive licenses granted under this Agreement to such Licensee or any of its Affiliates, with respect to all MatCo Patent Fields (if MatCo is Licensee) or AgCo Patent
Fields (if AgCo is Licensee) for which any and all Licensed Patents that are the subject of such Patent Challenge are licensed to such Licensee or any of its Affiliates hereunder (including, for clarity, the licenses and rights to any and all other
Patents licensed to such Licensee and its Affiliates to the extent in such MatCo Patent Fields or AgCo Patent Fields, as applicable). 

  
 35 

 (3)    In the case of the third such Inadvertent Patent Challenge (if
any), or to the extent Licensor has not exercised all of its rights expressly set forth in this Section 8.3(c), any Patent Challenge after the third such Inadvertent Patent Challenge), Licensor shall have the right to
terminate this Agreement to the extent with respect to any and all licenses and rights granted under this Agreement to such Licensee or any of its Affiliates with respect to Patents, or convert to
non-exclusive any or all exclusive licenses to the Licensed Patents granted under this Agreement to such Licensee or any of its Affiliates. 

(4)    Licensee shall pay amounts described in the foregoing subsections (1) and (2) (such amounts, the
“Patent Challenge Liquidated Damages”) to Licensor within twenty (20) Business Days of Licensor’s written notice that it is exercising its rights under such subsection, and such payment shall be made by wire transfer of
immediately available funds into an account designated in writing by Licensor. The Parties intend that the Patent Challenge Liquidated Damages constitute compensation, and not a penalty. The Parties acknowledge and agree that the harm to Licensor
and its Affiliates caused by a Patent Challenge would be impossible or very difficult to accurately estimate as of the Effective Date, and that the Patent Challenge Liquidated Damages are a reasonable estimate of the anticipated or actual harm that
might arise from one or more Patent Challenges. Licensee’s payment of the Patent Challenge Liquidated Damages, together with the other remedies set forth in this Section 8.3, are Licensee’s sole liability and
entire obligation and Licensor’s exclusive remedies for each such Patent Challenge as described herein.

(d)    Other Patent Challenges. Unless otherwise agreed upon in writing by the Parties, in the case of
(i) any Inadvertent Patent Challenge for which Sections 8.3(c)(ii)(1) through 8.3(c)(ii)(4) do not apply (including, for clarity, any Inadvertent Patent Challenge for which Licensee does not comply with
Section 8.3(a)) or (ii) any Patent Challenge that is not an Inadvertent Patent Challenge, in respect of the foregoing (i) and (ii), Licensor may, at Licensor’s option, (x) terminate this Agreement to the
extent with respect to any and all licenses and rights granted to Licensee or any of its Affiliates hereunder with respect to Patents or (y) convert to non-exclusive any and all exclusive licenses to the
Licensed Patents granted to Licensee or any of its Affiliates under this Agreement; provided that, if Licensee has provided a Discussion Notice to Licensor in accordance with Section 8.3(b), Licensor shall not
exercise any of its rights or remedies set forth in this Section 8.3(d) until (x) the CEO Escalation Period expires if an Escalation Notice is provided in accordance with Section 8.3(b)(ii) in
respect of such Patent Challenge or (y) the Initial Executive Officer Escalation Period expires if an Escalation Notice is not provided in accordance with Section 8.3(b)(ii) in respect of such Patent Challenge. 

(e)    Effects of Termination. Upon any termination by Licensor pursuant to this
Section 8.3, (i) any and all sublicenses that have been granted to a Sublicensee with respect to the licenses and rights that have been terminated (such licenses, the “Terminated Licenses”) shall
automatically terminate and (ii) Licensee shall, and shall ensure that its 

  
 36 

 
Affiliates and Sublicensees, immediately cease use of all Licensed IP under the Terminated Licenses. For clarity, in the event that a Licensor elects to terminate this Agreement with respect to
all licenses granted by such Licensor to Licensee under this Section 8.3, this Agreement shall remain in full force and effect with respect to all licenses granted to such terminating Licensor by such terminated Licensee.

 (f)    For avoidance of doubt, Licensor may not terminate any licenses or rights granted to Licensee or any of its
Affiliates hereunder or convert to non-exclusive any exclusive licenses if Licensee complies with Section 8.3(a) with respect to an Inadvertent Patent Challenge, and such Inadvertent
Patent Challenge is withdrawn. 
 ARTICLE IX 

DISPUTE RESOLUTION 
  

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

ARTICLE X 

MISCELLANEOUS 

Section 10.1    Complete Agreement; Construction. This Agreement, including the Exhibits and Schedules,
together with the Separation Agreement, the Umbrella Secrecy Agreement, other Ancillary Agreements and, solely to the extent and for the limited purpose of effecting the Internal Reorganization, the Conveyancing and Assumption Instruments, shall
constitute the entire agreement between the Parties with respect to the subject matter hereof and shall supersede all previous negotiations, commitments, course of dealings and writings with respect to such subject matter. In the event of any
inconsistency between this Agreement and any Exhibit or Schedule hereto, the Exhibit or Schedule shall prevail. In the event and to the extent that there shall be a conflict between the provisions of this Agreement and the provisions of the
Separation Agreement, the terms and conditions of this Agreement shall control (except as expressly set forth in Section 12.1 of the Separation Agreement). 

Section 10.2    Assignment. 

(a)    Neither this Agreement nor any of the rights, interests or obligations of a Party under this Agreement shall be
assigned, in whole or in part, by operation of law or otherwise, by such Party without the prior written consent of the other Party (which consent may be granted or withheld in such other Party’s sole discretion); provided
however, that such first Party (i) may assign, in whole or in part, by operation of law or otherwise, any of the foregoing to one or more of its Affiliates and (ii) may assign, in whole or in part, by operation of law or otherwise,
any of the foregoing to the successor to all or a portion of the business or assets to which this Agreement relates; provided that, (x) the assigning Party shall promptly notify the

  
 37 

 
non-assigning Party in writing of any assignments it makes under Section 10.2(a)(ii) and (y) in either case of (i) or
(ii), the party to whom this Agreement is assigned shall agree in writing to be bound by the terms of this Agreement as if named as a “Party” hereto with respect to all or such portion of this Agreement so assigned. Notwithstanding the
foregoing, in the event that a Party exercises its rights in accordance with the foregoing to assign this Agreement, in part or in whole, to a Non-Practicing Entity, and such assignment is a bona fide
assignment, the Parties’ rights and obligations set forth in Section 8.3 to the extent with respect to such assignment to such Non-Practicing Entity shall have no force and
effect (and, for clarity, any attempt to assign this Agreement, in part or in whole, to any Non-Practicing Entity with the intent to subsequently assign to any Person that is not a Non-Practicing Entity to circumvent Section 8.3 shall be void ab initio). 

(b)     Notwithstanding the foregoing: 

(i)    in the event that a Party assigns or otherwise transfers its rights and obligations with respect to
a Manufacturing Product Agreement to another Person in accordance with the terms thereof, the licenses set forth in Sections 2.1(d), 2.2(d), 2.3(a) and 2.3(b) (as applicable), together with any other provisions herein to
the extent related thereto, may be assigned or otherwise transferred to such Third Party without the other Party’s consent; and 

(ii)    MatCo may not assign any of the rights, interests or obligations under this Agreement with respect
to the AgCo Licensed Standards to any Third Party without the prior written consent of AgCo, which consent shall not be unreasonably withheld, delayed or conditioned (but may assign this Agreement in accordance with
Section 10.2(a) without such consent with respect to Local Standards, together with any AgCo Licensed Standards, solely as and to the extent incorporated into and/or reasonably necessary to use such Local Standards as of
the date of such assignment (“Designated AgCo Standards”)); provided that in the event that AgCo does not provide such consent, any Third Party to which MatCo assigns any right or obligation in accordance with
Section 10.2(a)(ii) shall be, and hereby is, granted a transitional license with respect to the AgCo Licensed Standards (other than the Designated AgCo Standards) as follows: such assignee may continue to use under this
Agreement such AgCo Licensed Standards used by Licensee or the relevant site, facility and/or portion of the Materials Science Business prior to the applicable transaction for a transitional period of up to twelve (12) months to the extent
reasonably necessary to transition to alternative technology (provided that such transitional period may be extended upon reasonable request subject to the prior written consent of AgCo, which consent may not be unreasonably withheld,
delayed or conditioned), if such assignee agrees in writing that: 
 (1)    The AgCo Licensed Standards
shall be treated as Confidential Information of AgCo under terms at least as restrictive as the terms in the Umbrella Secrecy Agreement; 

  
 38 

 (2)    The AgCo Licensed Standards shall be used only
within and for the support of the transferred business, site or facility and shall be shared only with Persons who have a reasonable need to know them for that purpose; and 

(3)    No later than the end of the transitional period, all copies of the AgCo Licensed Standards in the
possession of the transferred business, site or facility shall be destroyed; provided that, for clarity, destruction of such AgCo Licensed Standards shall not be required with respect to Designated AgCo Standards otherwise licensed
pursuant to the portion of the Agreement assigned. On request by AgCo, the affected business, site or facility shall confirm that the required destruction has occurred. 

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

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

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

Attn: 
 Email: 

To MatCo: 
 The Dow Chemical
Company 
 Global Dow Center 

2211 H.H. Dow Way 
 Midland, MI
48674 
 Attn: Chief IP Counsel, IP Legal 

Email: DFrickey@dow.com 
 with a
copy (which shall not constitute notice) to: 

  
 39 

 Shearman & Sterling LLP 

599 Lexington Avenue 
 New
York, New York 10022-6069 

			
	 Attention:
	 	   George A. Casey, Esq.

  Heiko Schiwek, Esq.
   Jordan Altman,
Esq.

	 Email:
	 	   George.Casey@Shearman.com

  HSchiwek@Shearman.com

  Jordan.Altman@Shearman.com

	 Facsimile:
	 	  (212) 848-7179

 Section 10.5    Waivers. Any provision of this Agreement may be waived,
if and only if, such waiver is in writing and signed by the Party against whom the waiver is to be effective. Notwithstanding the foregoing, no failure to exercise and no delay in exercising, on the part of any Party, any right, remedy, power or
privilege hereunder shall operate as a waiver hereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or
privilege. Any consent required or permitted to be given by any Party to any other Party under this Agreement shall be in writing and signed by the Party giving such consent and shall be effective only against such Party (and the members of its
Group). 
 Section 10.6    Amendments. This Agreement may not be modified or amended except by an agreement
in writing signed by each of the Parties. 
 Section 10.7    Affiliates. Each of the Parties shall cause to
be performed, and hereby guarantees the performance of, all actions, agreements and obligations set forth herein to be performed by any Affiliate of such Party. 

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

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

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

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

  
 40 

 Section 10.12    Specific Performance. The Parties
acknowledge and agree that irreparable harm would occur in the event that the Parties do not perform any provision of this Agreement in accordance with its specific terms or otherwise breach this Agreement and the remedies at law for any breach or
threatened breach of this Agreement, including monetary damages, are inadequate compensation for any such non-performance or breach. Accordingly, in the event of any actual or threatened default in or breach
of, any of the terms, conditions and provisions of this Agreement, the Parties agree that the Party or Parties to this Agreement who are or are to be thereby aggrieved shall, subject and pursuant to the terms of this Article X (including for
the avoidance of doubt, after compliance with all notice and negotiation provisions herein), have the right to specific performance and injunctive or other equitable relief of its or their rights under this Agreement in addition to any and all other
rights and remedies at law or in equity, and all such rights and remedies shall be cumulative. The Parties agree that any defense in any action for specific performance that a remedy at law would be adequate is hereby waived, and that any
requirements for the securing or posting of any bond with such remedy are hereby waived. 

Section 10.13    Severability. In the event any one or more of the provisions contained in this Agreement
should be held invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein and therein shall not in any way be affected or impaired thereby. The Parties shall endeavor in
good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid, legal and enforceable provisions, the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions.

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

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

  
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 * * * * * 

[End of page left intentionally blank] 

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

			
	DOWDUPONT INC.

 
			
		
	By:	 	 

 
			
	Name:	 	
	Title:	 	

  

			
	DOW INC.

 
			
		
	By:	 	 

 
			
	Name:	 	
	Title:	 	

  
 [Signature Page to
MATCO/AGCO IP Cross License Agreement]renewalagreementoctober1

                                                                                                   Renewal Agreement:      Agreement Date : 19 October 2017            Confirmation No : R­380019       Business Centre Details                                                 Client Details     LONDON, London Bridge ­ More London                                     Company Name          VERONA PHARMA PLC     Sales Manager        Max Chapman                                        Phone                 02032834000                                                                             Email                 piers.morgan@veronapharma.com      Office Payment Details (exc.VAT and exc. services)                Office Number                                 Number of people                                  Price per Office                      145A                                             6                                                     £ 11,000.00                       151                                             1                                                      £ 2,858.00     Service Provision :                Start Date              1 January 2018               End Date              31 January 2020  All agreements end on the last calendar day of the month.     Terms and Conditions     We are IW Group Services (UK) Limited [the Provider], please click the link below for terms and conditions.     By signing our service Agreement, you agree to provide information and sign relevant documents to allow the Provider to claim any relief on    business rates which at the Provider's risk is already included in your service fee with reference to the Business Centre within 2 working days of    such request. The Provider has appointed Gerald Eve LLP Rating Payment Management Services to administer such information.             Download the terms and conditions                                                                                      Download the house rules           This website is secure. Your personal details are protected at all times.                                                                                                                Print Agreement   Copyright ©Regus Group Companies 2009. All rights reserved. Reproduction in whole or in part in any form or medium without express written permission of Regus plc is prohibited. 

 

1.  This Agreement                                                                this agreement has ended the Client is responsible for any loss, claim                                                                                    or liability the Provider incurs as a result of the Client’s failure to vacate  1.1 Nature of this agreement:  This agreement is the commercial equivalent                                                                                    on  time.   The  Provider  may,  at  its  discretion,  permit  the  Client  an  of an agreement for accommodation(s) in a hotel.  The whole of the Centre                                                                                    extension subject to a surcharge on the monthly office fee.  remains  in  the  Provider’s  possession  and  control.  THE  CLIENT  ACCEPTS  THAT  THIS   AGREEMENT  CREATES  NO  TENANCY  INTEREST,  LEASEHOLD                1.8 Employees:  While this agreement is in force and for a period of six  ESTATE  OR  OTHER  REAL  PROPERTY  INTEREST  IN  THE  CLIENT’S  FAVOUR            months after it ends, neither the Provider nor the Client may knowingly  WITH  RESPECT  TO  THE  ACCOMMODATION(S).   The  Provider  is  giving  the        solicit or offer employment to any of the other’s staff employed in the  Client  the  right  to  share  with  the  Provider  the  use  of  the  Centre  on  these Centre.   This obligation  applies  to  any  employee  employed  at  the  terms  and  conditions,  as  supplemented  by  the  House  Rules,  so  that  the  Centre up to that employee’s termination of employment, and for three  Provider can provide the services to the Client.  This Agreement is personal      months  thereafter.   It is stipulated that the  breaching party shall pay  to the Client and cannot be transferred to anyone else without prior consent      the non-breaching  party the equivalent of  six months’ salary for any  from the Provider unless such transfer is required by law.  The Provider will     employee concerned.  Nothing in this clause shall prevent either party  not unreasonably withhold its consent to assignment to a parent, subsidiary       from  employing  an  individual  who  responds  in  good  faith  and  or affiliate of Client provided that Client and assignee execute the Provider’s   independently to an advertisement which is made to the public at large.   form  of  Assignment  of  License  Agreement  which  will  require assignee  to   1.9 Notices:  All formal notices must be in writing, which may include  assume all Client obligations and will not release the Client.  This agreement    by email, to the address first written above.  is composed of the front page describing the accommodation(s), the present        1.10  Confidentiality:   The  terms  of  this  agreement  are  confidential.   terms  and  conditions,  the  House Rules and the Service Price Guide (where      Neither  the  Provider  nor  the  Client  must  disclose  them  without  the  available).                                                                       other’s consent unless required to do so by law or an official authority.   1.2  Comply  with  House  Rules:   The  Client  must  comply  with  any  House    This obligation continues for a  period  of 3 years after this agreement  Rules  which the  Provider imposes  generally  on  users  of  the  Centre.   The  ends.  House  Rules  vary  from  country  to  country  and  from  Centre  to  Centre  and 1.11   Applicable law:  This agreement is interpreted and enforced in  these can be requested locally.                                                   accordance  with  the  law  of  the  place  where  the  relevant  Centre  is  1.3  AUTOMATIC  RENEWAL:   THIS  AGREEMENT  LASTS  FOR  THE  PERIOD               located.   All  dispute  resolution  proceedings  will  be  conducted  in  the  STATED  IN  IT AND THEN    WILL  BE  EXTENDED  AUTOMATICALLY  FOR                 country, state or province where the Centre is located. If any provision  SUCCESSIVE PERIODS EQUAL TO THE CURRENT TERM BUT NO LESS                          of these terms and conditions is held void or unenforceable under the  THAN  3  MONTHS (UNLESS LEGAL RENEWAL TERM LIMITS APPLY) UNTIL                    applicable law, the other provisions shall remain in force.  In the case  TERMINATED  BY  THE  CLIENT  OR  BY  THE  PROVIDER  PERSUANT  TO                  of Japan all agreements will be interpreted and enforced by the Tokyo  SECTION 1.4.  ALL PERIODS SHALL RUN TO THE LAST DAY OF THE MONTH                  District  Court,  and  in  the  case  of  France,  any  dispute  regarding  this  IN  WHICH  THEY  WOULD       OTHERWISE  EXPIRE.   THE  FEES  ON  ANY              agreement will be settled by the relevant courts of the Paris jurisdiction.  RENEWAL WILL BE AT THE THEN PREVAILING MARKET RATE. THIS CLAUSE                     DOES NOT APPLY TO MONTH TO MONTH AGREEMENTS.                                                                                    2.  Services and Obligations  1.4  CANCELLATION:  EITHER  THE  PROVIDER            OR  THE  CLIENT  CAN                                                                                    2.1  Office accommodation(s):  The Provider is to provide the number  TERMINATE  THIS  AGREEMENT  AT  THE  END  DATE       STATED  IN  IT,  OR  AT                                                                                    of serviced office accommodation(s) for which the Client has agreed to  THE END OF ANY EXTENSION OR RENEWAL PERIOD, BY GIVING AT LEAST                                                                                    pay in the Centre stated in this agreement.   This  agreement lists the  THREE  MONTHS  WRITTEN      NOTICE  TO  THE  OTHER.   HOWEVER,  IF  THIS                                                                                    accommodation(s)    the  Provider has  initially  allocated  for  the  Client’s  AGREEMENT,  EXTENSION      OR  RENEWAL  IS  FOR  THREE  MONTHS  OR  LESS                                                                                    use.  The Client will have a non-exclusive right to the rooms allocated  AND EITHER  THE PROVIDER  OR THE CLIENT WISHES  TO  TERMINATE  IT,                                                                                    to  it.   Occasionally the  Provider may  need  to  allocate  different  THE  NOTICE  PERIOD  IS   TWO  MONTHS  IF  THIS   AGREEMENT,  EXTENSION                                                                                    accommodation(s), but these accommodation(s) will be of reasonably  OR  RENEWAL  IS  FOR  TWO  MONTHS  OR  LESS,  NOTICE  MUST  BE  GIVEN                                                                                    equivalent size  and the  Provider will  notify  the  Client  with  respect  to  WITHIN ONE WEEK  OF THE START DATE OF          THE CURRENT TERM.IF      THE                                                                                    such different accommodation(s) in advance.  CLIENT  IS  ON  A  MONTH    TO  MONTH  AGREEMENT       EITHER  PARTY  MAY  TERMINATE  THIS  AGREEMENT  BY  GIVING  NO  LESS  THAN  ONE  MONTHS’              2.2  Office Services:  The Provider is to provide during normal opening  NOTICE TO THE OTHER (EFFECTIVE FROM THE START OF ANY CALENDAR                     hours  the  services,  if  requested,  described  in  the  relevant  service  MONTH).                                                                           description (which is available on request).  If the Provider decides that                                                                                    a request for any particular service is excessive, it reserves the right to  1.5 Ending this agreement immediately:  To   the maximum extent permitted                                                                                    charge an additional fee.  by  applicable  law,  the  Provider  may  put  an  end  to  this  agreement  immediately  by  giving  the  Client  notice  and  without  need  to  follow  any 2.3  THE  PROVIDER’S  IT:   WHILST  THE  PROVIDER  HAS  INTERNET  additional procedure if (a) the Client becomes insolvent, bankrupt, goes into     SECURITY  PROTOCOLS,  THE  PROVIDER          DOES  NOT  MAKE  ANY  liquidation  or  becomes  unable  to  pay  its  debts  as  they  fall  due,  or  (b)  the REPRESENTATIONS  AS  TO  THE  SECURITY  OF  THE  PROVIDER’S  Client is in breach of one of its obligations which cannot be put right or which  NETWORK (OR THE INTERNET) OR OF ANY INFORMATION THAT THE  the Provider  have  given the Client  notice  to  put right and which the Client  CLIENT  PLACES  ON  IT.   The  Client  should  adopt  whatever  security  has  failed  to  put  right  within  fourteen  (14)  days  of  that  notice,  or  (c)  its measures  (such  as  encryption)  it  believes  are  appropriate  to  its  conduct, or that of someone at the Centre with its permission or invitation, is   circumstances.  The Provider cannot guarantee that a particular degree  incompatible  with  ordinary  office  use  and  (i)  such  conduct  is  repeated  of availability will be attained in connection with the Client’s use of the  despite  the  Client  having  been  given  a  warning  or  (ii)  such  conduct  is Provider’s  network  (or  the  internet).  The  Client’s  sole  and  exclusive  material enough (in the Provider’s opinion) to warrant immediate termination.     remedy  shall  be  the  remedy  of  such  failure  by  the  Provider  within  a                                                                                    reasonable time after written notice.   If  the  Provider  puts  an  end  to  this  agreement  for  any  of  these  reasons  it  does  not  put  an  end  to  any  outstanding  obligations,  including  additional   services used, requested or required under the agreement and the monthly          3.  Providing the Services  office  fee  for  the  remainder  of  the  period  for  which  this  agreement  would 3.1 Access  to  the  accommodation(s):  The  Provider may  need  to  have lasted if the Provider had not ended it.                                     enter  the  Client’s  accommodation(s)  and  may  do  so  at  any  time.   1.6  If the Centre is no longer  available:   In the  event that the Provider is  However, unless there is an emergency or the Client has given notice  permanently  unable  to  provide  the  services  and  accommodation(s)  at  the   to terminate, the  Provider will attempt to notify the Client  verbally  or  Centre stated in this agreement then this agreement will end and the Client       electronically in advance when  the Provider needs access to carry out  will only have to pay monthly office fees up to the date it ends and for the      testing,  repair  or  works  other  than  routine  inspection,  cleaning  and  additional services the Client has used.  The Provider will try to find suitable  maintenance.   The Provider will also endeavour to respect reasonable  alternative accommodation(s) for the Client at another Provider Centre.           security  procedures  to  protect  the  confidentiality  of  the  Client’s  1.7 When this agreement ends the Client is to vacate the accommodation(s)         business.    immediately, leaving the accommodation(s) in the same condition as it was         3.2  Availability at the start of this agreement:  If for any reason the  when the Client took it.  Upon the Client’s departure  or if the Client,  at its  Provider   cannot  provide  the  accommodation(s)      stated  in  this  option, chooses to relocate to different rooms within the Centre, the Provider    agreement by the date when this agreement is due to start it has no  will  charge  an  Office  Restoration  Service  fee  to  cover  normal  cleaning  and liability to the Client for any loss or damages but the Client may cancel  testing and to return the accommodation(s) to its original state.  This fee will  this  agreement  without  penalty.  The  Provider will  not  charge  the  differ by country and is listed in the House Rules.   The Provider reserves the   Client  the  monthly  office  fee  for accommodation(s)  the  Client  cannot  right to charge additional reasonable fees for any repairs needed above and       use until it becomes available.  The Provider may delay the start date  beyond  normal  wear  and  tear.   If  the Client  leaves  any  property  in  the of  this  agreement  provided  it  provides  to  the  Client  alternative  Centre  the  Provider  may  dispose  of  it  at  the  Client’s  cost  in  any  way  the accommodation(s)  that  shall  be  at  least  of  equivalent  size  to  the  Provider  chooses  without  owing  the  Client  any  responsibility  for  it  or  any accommodation(s) stated in this agreement.  proceeds of sale.  If the Client continues to use the accommodation(s) when         

 

                                                                                  agreement  then  subject  to  the  exclusions  and  limits  set  out  4. Accommodation(s)                                                               immediately  below  the  Provider will  pay  any  actual  and  reasonable                                                                                    expenses  the  Client  has  incurred  in  obtaining  that  service  from  an  4.1  The Client must not alter any part of its accommodation and must take                                                                                    alternative  source.   If  the  Client  believes the  Provider has  failed  to  good  care  of  all  parts  of  the  centre,  its  equipment,  fixtures,  fittings  and                                                                                    deliver a service consistent with these terms and conditions the Client  furnishings which the Client uses.  The Client is liable for any damage caused                                                                                    shall  provide the  Provider written  notice  of  such  failure  and  give the  by  it  or  those  in  the  Centre  with  the  Client’s  permission  or  at  the  Client’s                                                                                    Provider a reasonable period to put it right.  invitation  whether  express  or  implied,  including  but  not  limited  to  all  employees, contractors, agents or other persons present on the premises.          7.2. EXCLUSION  OF CONSEQUENTIAL  LOSSES, ETC.:        THE PROVIDER                                                                                    WILL NOT  IN ANY CIRCUMSTANCES  HAVE ANY  LIABILITY FOR LOSS  4.2  Office equipment:  The Client must not install any cabling, IT or telecom                                                                                    OF  BUSINESS,  LOSS  OF  PROFITS,  LOSS  OF  ANTICIPATED  SAVINGS,  connections without the Provider’s consent, which the Provider may refuse at                                                                                    LOSS  OF  OR  DAMAGE  TO  DATA,  THIRD  PARTY  CLAIMS  OR  ANY  its absolute discretion.                                                                                     CONSEQUENTIAL LOSS UNLESS        the Provider OTHERWISE AGREES IN  As a condition to the Provider’s consent, the Client must permit the Provider     WRITING.    THE  PROVIDER     STRONGLY  ADVISES  THE  CLIENT  TO  to  oversee  any  installations  (for  example  IT  or  electrical  systems)  and  to INSURE AGAINST ALL SUCH POTENTIAL LOSS, DAMAGE, EXPENSE OR  verify  that  such  installations  do  not  interfere  with  the  use  of  the    LIABILITY.  accommodation(s)  by  other  Clients  or the  Provider or  any  landlord  of  the                                                                                    7.3. Financial  limits  to the  Provider’s liability:   In  all  cases, the  building.                                                                                    Provider’s liability to the Client is subject to the following limits:  4.3  Insurance:  It is  the Client’s responsibility  to  arrange insurance for its                                                                                      Without limit for personal injury or death;  own property which it brings in to the Centre and for its own liability to its  employees and to third parties.  The Provider strongly recommends that the        • Up to a maximum of £1 million / USD$2 million / €1.3 million (or local  Client put such insurance in place.                                               equivalent)  for  any  one  event  or  series  of  connected  events for                                                                                    damage to the Client’s personal property;                                                                                      • Up to a maximum equal to 125% of the total fees paid between the  5. Use                                                                                    date  the  Client  moved  into  its  accommodation(s)  and  the  date  on  5.1  The  Client  must  only  use  the  accommodation(s)  for  office  purposes.  which the claim in question arises or £50,000 / USD$100,000 / €66,000  Office  use  of  a  “retail”  or  “medical”  nature,  involving  frequent  visits  by (or  local equivalent)  whichever  is  the  higher,  in  respect  of  any  other  members of the public, is not permitted.                                          loss or damage.  5.2  The  Client  must  not  carry  on  a  business  that  competes  with the       Provider’s business  of  providing  serviced  office  accommodation(s)  or  its                                                                                    8.  Fees  ancillary services.                                                                                    8.1  Taxes and duty charges:  The Client agrees to pay promptly (i) all  5.3  The  Client’s  name  and  address:   The  Client  may  only  carry  on  that                                                                                    sales,  use, excise, consumption  and  any  other  taxes and license fees  business in its name or some other name that the Provider previously agrees.                                                                                    which it is required to pay to any governmental authority (and, at the  5.4  Use of the Centre Address:  The Client may use the Centre address as         Provider’s request,  will  provide  to the  Provider evidence  of  such  its  business  address.   Any  other  uses  are  prohibited  without the  Provider’s payment) and (ii) any taxes paid by the Provider to any governmental  prior written consent.                                                            authority  that  are  attributable  to  the  accommodation(s),  including,                                                                                    without  limitation,  any  gross  receipts,  rent  and  occupancy  taxes,  6.  Compliance                                                                    tangible  personal  property  taxes,  stamp  tax  or  other  documentary                                                                                    taxes and fees.  6.1  Comply with the law:  The Client and the Provider must comply with all  relevant laws and regulations in the conduct of its business in relation to this  8.2  Service  Retainer/Deposit:  The  Client  will  be  required  to  pay  a  agreement. The Client must do  nothing illegal in  connection with its use of     service  retainer/deposit  equivalent  to  two  months' of  the  monthly  the  Business  Centre.   The  Client  must  not  do  anything  that  may  interfere office  fee  (plus  VAT/Tax  where  applicable)  upon  entering  into  this  with the use of the Centre  by the Provider  or by others, (including but  not    agreement  unless  a  different  amount is specified on the front of this  limited to  political campaigning or immoral activity), cause any nuisance or     agreement.  This  will  be  held  by  the  Provider  without  generating  annoyance,  increase  the  insurance  premiums  the  Provider  has  to  pay,  or  interest as security for performance of all the Client’s obligations under  cause loss or damage to the Provider (including damage to reputation) or to       this  agreement.   The  service  retainer/deposit  or  any  balance  will  be  the owner of any interest in the building which contains the Centre the Client    returned  to  the  Client  when  the  Client  has  settled  its  account  which  is using.  Both the Client and the Provider shall comply at all times with all    includes  deducting  outstanding  fees  and  other  costs  due  to  the  relevant  anti-bribery  and  anti-corruption  laws.6.2  If  the  Provider  has  been Provider.  advised  by  any  government  authority  or  other  legislative  body  that  it  has 8.3 The Provider may require the Client to pay an increased retainer if  reasonable suspicion that the Client is conducting criminal activities from the   outstanding  fees  exceed  the  service  retainer/deposit  held  and/or  the  Centre then the Provider shall be entitled to terminate this agreement with       Client frequently fails to pay the Provider when due.  immediate effect. The Provider confirms that in providing the services it has     8.4  Payment:   The  Provider   is  continually  striving  to  reduce  its  not employed or used any labour in contravention of the requirements of any       environmental  impact  and  supports  its  clients  in  doing  the  same.  anti-slavery laws.                                                                Therefore  the  Provider  will  send  all  invoices  electronically  (where  6.3 The Client acknowledges that (a) the terms of this clause are a material      allowed by law) and the Client will make payments via  an  automated  inducement  in  the  Provider’s  execution  of  this  agreement  and (b)  any     method  such  as  Direct  Debit  or  Credit  Card,  wherever  local  banking  violation by the Client of this clause shall constitute a material default by the systems permit unless another form of payment is offered to the Client  Client hereunder, entitling the Provider to terminate this agreement, without     as a qualified and current Key Account.  further notice or procedure.                                                      8.5  Late payment:   If the Client does  not  pay fees when due, a fee  6.4  The  Provider  may  collect  and  process  personal  data  from and  of  the will be charged on all overdue balances.  This fee will differ by country  Client  to  administer  contractual  relationship,  ensure  compliance  with      and is listed in the House Rules.  If the Client disputes any part of an  applicable  laws  and  regulations,  and  enable  the  Provider  to  provide  its invoice the Client must pay the amount not in dispute by the due date  services  and to manage its business. The Client acknowledges and accepts         or  be  subject  to  late  fees.  The Provider also  reserves  the  right  to  that such personal data may be transferred or made accessible to all entities     withhold  services  (including  for  the  avoidance  of  doubt,  denying  the  of the Provider’s group, wherever located, for the purposes of providing the      Client access to its accommodation(s)) while there are any outstanding  services herein.                                                                  fees and/or interest or the Client is in breach of this agreement.                                                                                      8.6  Insufficient  Funds:   The  Client  will  pay  a  fee  for  any  returned  7.  The Provider’s Liability                                                      cheque or any other declined payments due to insufficient funds.  This                                                                                    fee will differ by country and is listed in the House Rules.    7.1. The extent of the Provider’s liability:  To the maximum extent permitted  by applicable law, the Provider is not liable to the Client in respect of any loss 8.7  If  this  agreement  is  for  a  term  of  more  than  12  months,  the  or  damage  the  Client  suffers  in  connection  with  this  agreement,  with  the Provider will increase the monthly office fee on each anniversary of the  services or with the Client’s accommodation(s) unless the Provider has acted      start date.  This increase will be by the local Consumer Price Index or  deliberately  or  negligently  in  causing  that  loss  or  damage.  the  Provider is such other  broadly  equivalent index where a consumer price index is  not liable for any loss as a result of the Provider’s failure to provide a service not available locally.  If there is a negative index rate, prices will not be  as  a  result  of  mechanical  breakdown,  strike,  termination  of the  Provider’s decreased.  Renewals are calculated separately from annual indexation  interest  in  the  building  containing  the  Centre or  otherwise  unless the    increases. Month to Month agreements will use the above stated index  Provider does so deliberately or is negligent.  In no event shall the Provider    or the current month to month office price, whichever is the greater.  be liable for any loss or damage until the Client provides the Provider written   8.8  Standard  services:   The  monthly  office  fee  and  any  recurring  notice  and  gives the  Provider a  reasonable  time  to  put  it  right.    If the services  requested  by  the  Client  are  payable  monthly  in  advance.   Provider is liable for failing to provide the Client with any service under this  Unless  otherwise  agreed  in  writing,  these  recurring  services  will  be  

 

provided  by the  Provider at  the  specified  rates  for  the  duration  of  this  Agreement (including any renewal).  Specific due dates will differ by country  and are listed in the House Rules.  Where a daily rate applies, the charge for  any such month will be 30 times the daily fee.  For a period of less than a  month the fee will be applied on a daily basis.  8.9  Pay-as-you-use and Additional Variable Services:  Fees for pay-as-you- use  services,  plus  applicable  taxes,  in  accordance  with the  Provider’s  published rates which may change from time to time, are invoiced in arrears  and payable the month following the calendar month in which the additional  services  were  provided.   Specific  due  dates  will  differ  by  country  and  are  listed in the House Rules.  8.10 Discounts, Promotions and Offers:  If the Client benefited from a special  discount,  promotion  or  offer,  the  Provider  may  discontinue  that  discount,  promotion  or  offer  without  notice  if  the  Client  materially  breaches  these  terms and conditions.                                                                                                                   Global Terms & Conditions, lveber, Jan-17

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