Document:

EX-10.2

 Exhibit 10.2 

Amended and Restated Executive Severance Agreement 

July 1, 2015 
 This
Amended and Restated Executive Severance Agreement (this “Agreement”) is between Sears Hometown and Outlet Stores, Inc. (together with its subsidiaries “SHO”) and William A. Powell
(“Executive”). 
 Preliminary Statement 

Executive and Sears Holdings Corporation (“SHC”) entered into an Executive Severance Agreement dated November 7, 2007, which
agreement (the “Original Agreement”) was assigned by SHC to SHO as part of its separation from SHC. In connection with Executive’s commencement of employment as the Chief Executive Officer and President of SHO, Executive and
SHO have determined that it is desirable to amend and restate the Original Agreement. 
 Terms and Conditions 

Executive and SHO, intending to be legally bound and for good and valuable consideration, agree as follows: 

 

	 	1.	Benefits Upon Termination of Employment. 

  

	 	a.	Severance Benefits. If Executive is involuntarily terminated without Cause or Executive voluntarily terminates Executive’s employment for Good Reason (as such terms are defined in Section 2 below),
Executive will be entitled to the benefits described in Sections 1(a)(i), (ii) and (iii) below (collectively, the “Severance Benefits”). Executive will not be entitled to the Severance Benefits if Executive’s
employment terminates for any other reason, including for Cause or due to death or Disability (as defined in Section 2 below). Executive will not be entitled to Severance Benefits if Executive does not meet all of the other requirements of this
Agreement, including those of Section 4(g). 

  

	 	i.	Continuation of Salary and Receipt of Bonus. 

  

	 	1.	SHO will pay Executive cash severance in an amount equal to one times Executive’s annual base salary rate as of the date on which Executive’s employment terminates (the “Date of Termination”).
Subject to Section 1(a)(i)(6) below, payment of the amount determined in accordance with this Section 1(a)(i)(1) (the “Salary Continuation”) will commence on Executive’s Separation from Service (as defined in
Section 2 below) and will be paid in substantially equal installments on each regular salary payroll date for a period of twelve (12) months following the Date of Termination (the “Salary Continuation Period”), except as
otherwise provided in this Agreement. 

  

	 	2.	Executive will also receive a lump sum equal to the bonus that he actually earned as determined by the Compensation Committee of the Board of Directors in accordance with SHO’s Annual Incentive Plan (the
“AIP”) for the fiscal year in which the Date of Termination occurs, pro-rated through the Date of Termination (the “Bonus Payment”). The Bonus Payment will be made at the time when SHO makes payments of bonuses
earned under the AIP for the fiscal year of Executive’s termination to active employees of SHO, subject to Section 1(a)(i)(6) below. 

	 	3.	If the Date of Termination occurs prior to receipt of his earned annual bonus under the AIP (as determined by the Compensation Committee of the Board of Directors) for the fiscal year prior to the fiscal year in which
the Date of Termination occurs, Executive will also receive the full amount of such prior year’s bonus (the “Prior Year Bonus”). The Prior Year Bonus will be paid at the time when SHO makes payments of bonuses earned under the
AIP for the fiscal year prior to the year of Executive’s termination to active employees of SHO, subject to Section 1(a)(i)(6) below. 

  

	 	4.	Notwithstanding the foregoing, to the extent Executive’s termination is as a result of an event that would trigger payments under a then-current and applicable transition pay or severance plan or program (the
“Other Severance Program”) under which Executive would have been eligible for severance pay and benefits for a period longer than twelve (12) months, and provided the severance pay under the Other Severance Program is greater
than the sum of the Salary Continuation, the Bonus Payment, and the Prior Year Bonus, then the Salary Continuation and Salary Continuation Period for purposes of this Agreement will be that greater amount and longer period provided by the Other
Severance Program, except as otherwise provided in this Agreement. 

  

	 	5.	Further and notwithstanding the foregoing, the SHO obligations that may become due under this Section 1(a)(i) will be reduced on a dollar-for-dollar basis (but not below zero), by the amount, if any, of salary or
wages that Executive earns from a subsequent employer (including those arising from self-employment) during the Salary Continuation Period other than all approved external director fees that Executive earns or is otherwise entitled to receive. For
avoidance of doubt, Executive will not be obligated to seek affirmatively or accept an employment, contractor, consulting or other arrangement in order to mitigate the Salary Continuation, Bonus Payment, and Prior Year Bonus. Further, to the extent
Executive does not execute and timely submit the General Release and Waiver (in accordance with Section 4(g) below) by the deadline specified therein, Salary Continuation payments will terminate, and any entitlement to future Salary
Continuation payments, the Bonus Payment, and the Prior Year Bonus will be forfeited, and Executive will be required to reimburse SHO for any portion of the Salary Continuation, the Bonus Payment, and the Prior Year Bonus already paid to him.

  

	 	6.	Notwithstanding anything in this Section 1(a)(i) to the contrary, if the Salary Continuation, Bonus Payment and Prior Year Bonus payable to Executive in accordance with Section 1(a)(i) during the six
(6) months after Executive’s Separation from Service would exceed the Section 409A Threshold and if as of the date of the Separation from Service Executive is a Specified Employee (as such terms are defined in Section 2

  
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below), then payment will be made to Executive on each regular salary payroll date during the first six (6) months of the Salary Continuation Period until the aggregate amount received
equals the Section 409A Threshold. Any portion of the Salary Continuation, Bonus Payment, and Prior Year Bonus that is in excess of the Section 409A Threshold and that would otherwise be paid during such six (6) months will instead be
paid to Executive in a lump sum payment on the date that is six (6) months and one (1) day after the date of Executive’s Separation from Service. 

  

	 	7.	All Salary Continuation payments (described under this Section 1(a)(i)) will terminate, and any entitlements to future Salary Continuation, Bonus Payment and Prior Year Bonus will be forfeited if Executive is
employed by a SHO Competitor or SHO Vendor (as such terms are defined in Sections 4(c)(ii) and 4(d)(ii) herein, respectively) during the Salary Continuation Period (which for purposes of this Section 1(a)(i)(3) will not exceed twelve
(12) months), or in the event of Executive’s breach of this Agreement (in accordance with Section 10 below). In either case, Executive will be required to reimburse SHO for any portion of the Salary Continuation, Bonus Payment and
Prior Year Bonus already paid to him. 

  

	 	ii.	Continuation of Benefits. 

  

	 	1.	During the Salary Continuation Period, Executive will be entitled to participate in all benefit plans and programs (except as specified in this Section 1(a)(ii)) in which Executive was eligible to participate
immediately prior to the Date of Termination (subject to the terms and conditions and continued availability and applicability of such plans and programs); provided, however, that Executive will not be eligible to participate in the long-term
disability plan, health care flexible spending account (except on an after-tax basis and only through the earlier of the end of Salary Continuation Period or the calendar year in which the Separation from Service occurs), SHO paid life insurance,
and any 40l(k) savings plan maintained by SHO (or any other defined contribution plan sponsored by SHO). SHO’s current medical and dental plans provide COBRA-only coverage for former employees who are not active employees of the Company. If at
the Date of Termination COBRA coverage is the only coverage available under SHO’s then-current medical and dental plans, Executive and Executive’s eligible dependents will be eligible during the Salary Continuation Period for COBRA
coverage under the then-current plans, with Executive’s percentage share of the cost of COBRA premiums to be the same as the percentage share that Executive paid for medical and dental plan coverage immediately prior to the Date of Termination.

  

	 	2.	If Executive does not timely execute and submit the General Release and Waiver (in accordance with Section 4(g) herein) by the deadline specified therein, Executive will be required to reimburse SHO for the portion
of the cost for the benefits referred to under Section 1(a)(ii)(l) immediately above paid by SHO during the Salary Continuation Period, 

  
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and Executive will instead be eligible for COBRA coverage under the SHO medical and dental plans as of the Date of Termination. Executive will be responsible for the full cost of COBRA premiums
if this Section 1(a)(ii)(2) is applicable. 

  

	 	3.	Subject to Section 1(a)(ii)(4) immediately below, in the event Executive provides services to another employer and is covered by such employer’s health benefits plan or program, the medical and dental benefits
provided by SHO hereunder will be secondary to such employer’s health benefits plan or program in accordance with the terms of the SHO health benefit plans. 

  

	 	4.	All of the benefits described in this Section 1(a)(ii) will terminate, and any entitlements to future such payments will be forfeited, if Executive is employed by a SHO Competitor or a SHO Vendor during the Salary
Continuation Period (which for purposes of this Section 1(a)(ii)(4) will not exceed twelve (12) months) or in the event of Executive’s breach of this Agreement (in accordance with Section 10 below). In either case, Executive will
be required to reimburse SHO for any portion of the cost for the benefits referred to under Section 1(a)(ii)(1) immediately above paid by SHO during the Salary Continuation Period, and Executive will instead be eligible for COBRA continuation
coverage under the SHO medical and dental plans as of Executive’s Severance from Service date. Executive will be responsible for the full cost of COBRA premiums if this Section 1(a)(ii)(4) is applicable. 

 

	 	iii.	Outplacement. As of Executive’s Separation from Service, Executive will be immediately eligible for reasonable outplacement services at the expense of SHO. SHO and Executive will mutually agree on which
outplacement firm, among current vendors used by SHO will provide these services. Such services will be provided for up to six (6) months from the Separation from Service or until employment is obtained, whichever occurs first. Outplacement
benefits described in this Section 1(a)(iii) will terminate and forever lapse if Executive is employed by a SHO Competitor or SHO Vendor or in the event of Executive’s breach of this Agreement (in accordance with Section 10 below).

  

	 	iv.	Other. In addition to the foregoing Severance Benefits, a lump sum payment will be made to Executive within ten (10) business days following the Date of Termination in an amount equal to the sum of any base
salary and any vacation benefits that have accrued through the Date of Termination but only to the extent not already paid. No vacation will accrue during the Salary Continuation Period. Notwithstanding the foregoing and anything herein to the
contrary, in the event of Executive’s death during the Salary Continuation Period, any unpaid portion of the Salary Continuation payable in accordance with Section 1(a)(i) above will be paid in a lump sum, within sixty (60) days of
death (and no later than amounts would have been paid absent death), to Executive’s estate, and any eligible dependents who are covered dependents as of the date of death will experience a qualifying event under COBRA as a result of such death.

  
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	 	v.	Impact of Termination on Certain Other Plans/Programs. 

  

	 	1.	Annual Incentive Plan. Subject to Section 1(a)(i) of this Agreement, upon the Date of Termination, Executive’s entitlement to any award under the AIP or other applicable annual incentive plan sponsored
by SHO will be determined in accordance with the terms and conditions of the AIP or other plan document regarding termination of employment. 

  

	 	2.	Long-Term Incentive Program. Upon the Date of Termination, Executive’s entitlement to any award granted to Executive under SHO’s Long-Term Incentive Program (the “LTIP”) or other
applicable long-term incentive program sponsored by SHO will be determined in accordance with the terms and conditions of the applicable award letter and the LTIP or other plan document regarding termination of employment. 

 

	 	3.	Stock Plan. Upon the Date of Termination, Executive’s entitlement to any unvested options, restricted stock, or other equity award granted to Executive under SHO’s 2012 Amended and Restated Stock Plan
or other stock plan sponsored by SHO will be determined in accordance with the terms and conditions of the applicable award agreement and the stock plan document regarding termination of employment. 

 

	 	vi.	Post-Termination Forfeiture of Severance Benefits. If SHO determines after the Date of Termination that Executive engaged in activity during employment with SHO that SHO determines constituted Cause, Executive
will immediately cease to be eligible for Severance Benefits and will be required to reimburse SHO for any portion of Severance Benefits received by Executive during the Salary Continuation Period. 

 

	 	2.	Definitions. For purposes of this Agreement, each capitalized term herein is either defined in the section, exhibit, or Appendix in which it first appears or in this Section 2. The following capitalized
terms will have the definitions as set forth below: 

  

	 	a.	“Cause” will mean (i) a material breach by Executive (other than a breach resulting from Executive’s incapacity due to a Disability) of Executive’s duties and responsibilities to
SHO, including under Executive’s Offer Letter with SHO dated July 1, 2015 (the “Offer Letter”), which breach is demonstrably willful and deliberate on Executive’s part, is committed in bad faith or without reasonable
belief that such breach is in the best interests of SHO, and is not remedied in a reasonable period of time after receipt of written notice from SHO specifying such breach; (ii) Executive’s conviction of a felony involving moral turpitude;
or (iii) Executive’s dishonesty or willful misconduct in connection with Executive’s employment. 

  

	 	b.	“Disability” will mean disability as defined under the SHO long-term disability plan in effect as of the date of execution of this Agreement (regardless of whether Executive is a participant
under such plan). 

  

	 	c.	“Good Reason” will mean, without Executive’s written consent, (i) a reduction of more than ten percent (10%) in the sum of Executive’s annual base salary and target

  
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annual incentive under the AIP from those in effect as of the date of this Agreement; (ii) Executive’s mandatory relocation to an office more than fifty (50) miles from the primary
location at which Executive is required to perform Executive’s duties immediately prior to the date of this Agreement; or (iii) any other action or inaction that constitutes a material breach of the terms of Executive’s employment
with SHO, including under the Offer Letter, by SHO or its successor, including failure of a successor company to assume or fulfill the obligations under this Agreement. In each case, Executive must provide SHO with written notice of the facts giving
rise to a claim that Good Reason exists for purposes of this Agreement within thirty (30) days of the initial existence of such Good Reason event, and SHO will have a right to remedy such event within sixty (60) days after receipt of
Executive’s written notice (the “Sixty (60)-Day Period”). If SHO remedies the Good Reason event within the Sixty (60)-Day Period, the Good Reason event (and Executive’s right to receive any benefit under this Agreement on
account of termination of employment for Good Reason) will cease to exist. If SHO does not remedy the Good Reason event within the Sixty (60)-Day Period, and Executive does not incur a termination of employment within thirty (30) days following
the earlier of: (y) the date SHO notifies Executive that it does not intend to remedy the Good Reason or does not agree that there has been a Good Reason event, or (z) the date on which the Sixty (60)-Day Period expires, the Good Reason
event (or any claim of Good Reason) will cease to exist. Notwithstanding the foregoing, if Executive fails to provide written notice to SHO of the facts giving rise to a claim of Good Reason within thirty (30) days of the initial existence of
such Good Reason event, the Good Reason event (and Executive’s right to receive any benefit under this Agreement on account of termination of employment for Good Reason) will cease to exist as of the thirty-first (31st) day following the
later of its occurrence or Executive’s knowledge thereof. If Executive terminates his employment under clause (i) of this definition, his annual base salary rate for purposes of Section 1 hereof will be his annual base salary rate in
effect prior to the reduction that triggered the applicability of such Good Reason event. 

  

	 	d.	“SHO Affiliate” will mean any person with whom SHO is considered to be a single employer under Section 414 (b) of the Internal Revenue Code (the “Code”) and all persons
with whom SHO would be considered a single employer under Code Section 414 (c), substituting “50%” for the “80%” standard that would otherwise apply. 

 

	 	e.	“Section 409A Threshold” will mean an amount equal to two (2) times the lesser of (i) Executive’s base salary for services provided to SHO as an employee for the calendar year
preceding the calendar year in which Executive has a Separation from Service; or (ii) the maximum amount that may be taken into account under a qualified plan in accordance with Code Section 40l (a)(17) for the calendar year in which
Executive has a Separation from Service. In all events, this amount will be limited to the amount specified under Treasury Regulation Section 1.409A-1(b)(9)(iii)(A) or any successor thereto. 

 

	 	f.	“Separation from Service” will mean a “Separation from Service” from SHO within the meaning of Code Section 409A (and regulations issued thereunder). Notwithstanding anything
herein to the contrary, the fact that Executive is treated as having incurred a Separation from Service under Code Section 409A and the terms of this Agreement will not be determinative, or in any way affect the analysis, of whether Executive
has retired, terminated employment, separated from service, incurred a severance from employment or become entitled to a distribution, under the terms of any retirement plan (including pension plans and 401(k) savings plans) maintained by SHO.

  
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	 	g.	“Specified Employee” will have the meaning set forth under Code Section 409A (and regulations issued thereunder). 

 

	 	3.	Intellectual Property Rights. Executive acknowledges that Executive’s development work or research on any and all inventions or expressions of ideas that may or may not be eligible for patent, copyright,
trademark or trade secret protection, hereafter made or conceived solely or jointly within the scope of employment at SHO, provided such invention or expression of an idea relates to the business of SHO, or relates to actual or demonstrably
anticipated research or development of SHO, or results from any work performed by Executive for or on behalf of SHO, are hereby assigned to SHO, including Executive’s entire rights, title and interest. Executive will promptly disclose such
invention or expression of an idea to Executive’s management and will, upon request, promptly execute a specific written assignment of title to SHO. If Executive currently holds any inventions or expressions of an idea, regardless of whether
they were published or filed with the U.S. Patent and Trademark Office or the U.S. Copyright Office, or is under contract to not so assign, Executive will list them on the last page of this Agreement. 

 

	 	4.	Protective Covenants. Executive acknowledges that this Agreement provides for additional consideration beyond what SHO is otherwise obligated to pay to him. In consideration of the opportunity to receive the
Severance Benefits, and other good and valuable consideration, Executive agrees to the following: 

  

	 	a.	Non-Disclosure of SHO Confidential Information. Executive acknowledges and agrees to be bound by the following, whether or not Executive receives any Severance Benefits under this Agreement: 

 

	 	i.	Non-Disclosure. Executive will not, during the term of Executive’s employment with SHO or thereafter, other than in the performance of his duties and obligations to SHO, including under the Offer Letter,
during his employment with SHO, as required by law or legal process, or as SHO may otherwise consent to or direct in writing, reveal, disclose, sell, use, lecture upon or publish any SHO Confidential Information (as defined in Section 4(a)(iii)
below) until such time as the information becomes publicly known other than as a result of its disclosure, directly or indirectly, by Executive. 

  

	 	ii.	Proprietary Information. Executive understands that if Executive possesses any proprietary information of another person or company as a result of prior employment or otherwise, SHO expects and requires that
Executive will honor any and all legal obligations that Executive has to that person or company with respect to proprietary information, and Executive will refrain from any unauthorized use or disclosure of such information. 

 

	 	iii.	SHO Confidential Information. For purposes of this Agreement, “SHO Confidential Information” means trade secrets and non-public information which SHO designates as being confidential or which,
under the circumstances, should be treated as confidential, including, without limitation, any information received in confidence from or developed by SHO, its long and short term goals, vendor and supply agreements, databases, methods, programs,
techniques, business information, financial information, marketing and business plans, proprietary software, personnel information and files, client information, pricing, and other information relating to the business of SHO that is not known
generally to the public or in the industry. 

  
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	 	iv.	Return of SHO Property. All documents and other property that relate to the business of SHO are the exclusive property of SHO, even if Executive authored or created them. Executive agrees to return all such
documents and tangible property to SHO upon termination of employment or at such earlier time as SHO may request that Executive do so. 

  

	 	v.	Conflict of Interest. During Executive’s employment with SHO and during any Salary Continuation Period (which for purposes of this Section 4(a)(v) will not exceed twelve (12) months), except as may
be approved in writing by SHO, neither Executive nor members of Executive’s immediate family (which will refer to Executive, any spouse, and any child) will have financial investments or other interests or relationships with SHO or any
customers, suppliers or competitors which might impair Executive’s independence of judgment on behalf of SHO. Also during Executive’s employment with SHO during any Salary Continuation Period, Executive agrees not to engage in any activity
in competition with SHO and to avoid any outside activity that could adversely affect the independence and objectivity of Executive’s judgment, interfere with the timely and effective performance of Executive’s duties and responsibilities
to SHO, or that could otherwise conflict with the best interests of SHO. 

  

	 	b.	Non-Solicitation of Employees. During Executive’s employment with SHO and for twelve (12) months following the Date of Termination, whether or not Executive receives any Severance Benefits under this
Agreement, Executive will not, directly or indirectly, solicit or encourage any person to leave her or his employment with SHO, or assist in any way with the hiring of any SHO employee by any future employer or other entity. 

 

	 	c.	Non-Competition. Executive acknowledges that as a result of Executive’s position at SHO, Executive has learned or developed, or will learn or develop, SHO Confidential Information and that use or disclosure
of SHO Confidential Information is likely to occur if Executive were to render advice or services to any SHO Competitor. 

  

	 	i.	Therefore, for twelve (12) months following the Date of Termination, whether or not Executive receives any Severance Benefits under this Agreement, Executive will not, directly or indirectly, aid, assist,
participate in, consult with, render services to, accept a position with, become employed by, or otherwise enter into any relationship with (other than having a passive ownership interest in or being a customer of) any SHO Competitor.

  

	 	ii.	For purposes of this Agreement, “SHO Competitor” means those companies listed on Appendix A, each of which Executive acknowledges is a SHO Competitor. 

 

	 	d.	Restriction on Post-Employment Affiliation with SHO Vendors. Executive acknowledges that as a result of Executive’s position at SHO, Executive has learned or developed, or will learn or develop, SHO
Confidential Information and that use or disclosure of SHO Confidential Information is likely to occur if Executive were to render advice or services to any SHO Vendor (as defined herein). 

  
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	 	i.	Therefore, for twelve (12) months from the Date of Termination, whether or not Executive receives any Severance Benefits under this Agreement, Executive will not, directly or indirectly, aid, assist, participate
in, consult with, render services to, accept a position with, become employed by, or otherwise enter into any relationship with (other than having a passive ownership interest in or being a customer of) any SHO Vendor. 

 

	 	ii.	For purposes of this Agreement, “SHO Vendor” means, the vendors, if any, listed in Appendix A as well as any other vendor with combined annual gross sales of services or merchandise to SHO in excess of
$200 million. 

  

	 	e.	Compliance with Protective Covenants. Executive will provide SHO with such information as SHO may from time to time reasonably request to determine Executive’s compliance with this Section 4. Executive
authorizes SHO to contact Executive’s future employers and other entities with which Executive has any business relationship to determine Executive’s compliance with this Agreement or to communicate the contents of this Agreement to such
employers and entities. Executive releases SHO, their agents and employees, from all liability for any damage arising from any such contacts or communications. 

  

	 	f.	Necessity and Reasonableness. Executive agrees that the restrictions set forth herein are necessary to prevent the use and disclosure of SHO Confidential Information and to otherwise protect the legitimate
business interests of SHO. Executive further agrees and acknowledges that the provisions of this Agreement are reasonable. 

  

	 	g.	General Release and Waiver. In connection with Executive’s termination of employment with SHO (whether initiated by SHO or Executive in accordance with Section (1)(a) above), Executive will execute a
binding general release and waiver of claims in a form to be provided by SHO (the “General Release and Waiver”), which is incorporated by reference in this Agreement. The General Release and Waiver will be in a form substantially
similar to the form attached as Appendix B to this Agreement. If the General Release and Waiver is not signed within the time articulated therein, or is signed but subsequently revoked, Executive will cease receiving Severance Benefits
otherwise payable under Section 1(a) above. Further, Executive will be obligated to reimburse SHO for any portion of the Severance Benefits already paid to him. 

 

	 	h.	Exception Request. Notwithstanding the foregoing, Executive may request a waiver or a specific exception to the non-competition provisions of this Agreement by written request to the Vice President of Human
Resources or Vice President, General Counsel (or the equivalent) of SHO. Such a request will be given reasonable consideration and may be granted, in whole or in part, or denied by SHO in its absolute discretion. 

 

	 	5.	Irreparable Harm. Executive acknowledges that irreparable harm would result from any breach by Executive of the provisions of this Agreement, including, without limitation, Sections 4(a), 4(b), 4(c) and 4(d), and
that monetary damages alone would not provide adequate relief for any such breach. Accordingly, if Executive breaches or threatens to breach this Agreement, Executive consents to injunctive relief in favor of SHO without the necessity of SHO posting
a bond. Moreover, any award of injunctive relief will not preclude SHO from seeking or 

  
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recovering any lawful compensatory damages on account of any harm which result from a breach of this Agreement, including a forfeiture of any future payments otherwise due hereunder, and a return
of any payments and benefits already received by Executive under this Agreement. 

  

	 	6.	Non-Disparagement. Executive will not take any actions that would reasonably be expected to be detrimental to the interests of SHO nor make derogatory statements, either written or oral to any third party, or
otherwise publicly disparage SHO or its products, services, or present or former employees, officers or directors, and will not authorize others to make such derogatory or disparaging statements on Executive’s behalf. This provision does not,
and is not intended to, preclude Executive from entering into any relationship with a SHO Competitor or SHO Vendor if such relationship is permissible under Section 4(c) or 4(d) and does not, and is not intended to, preclude Executive from
providing truthful testimony in response to legal process or governmental inquiry. 

  

	 	7.	Cooperation. Executive agrees, without receiving additional compensation, to fully and completely cooperate with SHO both during and after the period of employment with SHO (including any Salary Continuation
Period), with respect to matters that relate to such period of employment, in all investigations, potential litigation or litigation in which SHO is involved or may become involved other than any such investigations, potential litigation or
litigation between SHO and Executive. SHO will reimburse Executive for reasonable travel and out-of-pocket expenses incurred in connection with any such investigations, potential litigation or litigation, except in the case of litigation between SHO
and Executive. 

  

	 	8.	Future Enforcement or Remedy. Any waiver, or failure to seek enforcement or remedy for any breach or suspected breach of any provision of this Agreement by SHO or Executive in any instance will not be deemed a
waiver of such provision in the future. 

  

	 	9.	Acting as Witness. Executive agrees that both during and after the period of employment with SHO (including any Salary Continuation Period), Executive will not voluntarily act as a witness, consultant or expert
for any person or party in any action against or involving SHO unless subject to judicial enforcement to appear as a fact witness only. 

  

	 	10.	Breach by Executive. In the event of a breach by Executive of any of the provisions of this Agreement, including, without limitation, the non-competition provisions (Section 4) and the non-disparagement provision
(Section 6) of this Agreement, the obligation of SHO to pay Salary Continuation or to provide other Severance Benefits under this Agreement will immediately cease and any Salary Continuation payments already received and the value of any other
Severance Benefits already received will be returned by Executive to SHO. Further, Executive agrees that SHO will be entitled to recovery of its attorneys’ fees and other associated costs incurred as a result of any attempt to redress a breach
by Executive or to enforce its rights and protect its interests under this Agreement. 

  

	 	11.	Severability. If any provision or provisions of this Agreement is found invalid, illegal, or unenforceable, in whole or in part, then such provision or provisions will be modified or restricted so as to
effectuate as nearly as possible in a valid and enforceable way the provisions hereof, or will be deemed excised from this Agreement, as the case may require, and this Agreement will be construed and enforced to the maximum extent permitted by law,
as if such provision or provisions had been originally incorporated herein as so modified or restricted or as if such provision or provisions had not been originally incorporated herein, as the case may be. 

  
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	 	12.	Governing Law. This Agreement will be governed under the internal laws of the state of Illinois without regard to principles of conflicts of laws. Executive agrees that the state and federal courts located in the
state of Illinois will have exclusive jurisdiction in any action, lawsuit or proceeding based on or arising out of this Agreement, and Executive hereby (a) submits to the personal jurisdiction of such courts, (b) consents to the service of
process in connection with any action, suit, or proceeding against Executive, and (c) waives any other requirement (whether imposed by statute, rule of court, or otherwise) with respect to personal jurisdiction, venue or service of process.

  

	 	13.	Right to Jury. Executive agrees to waive any right to a jury trial on any claim contending that this Agreement or the General Release and Waiver is illegal or unenforceable in whole or in part, and Executive
agrees to try any claims brought in a court or tribunal without use of a jury or advisory jury. Further, should any claim arising out of Executive’s employment, termination of employment or Salary Continuation Period (if any) be found by a
court or tribunal of competent jurisdiction to not be released by the General Release and Waiver, Executive agrees to try such claim to the court or tribunal without use of a jury or advisory jury. 

 

	 	14.	Employment-at-Will. This Agreement does not constitute a contract of employment, and Executive acknowledges that Executive’s employment with SHO is terminable “at-will” by either party at any time
with or without cause and with or without notice. 

  

	 	15.	Other Plans, Programs, Policies and Practices. If any provision of this Agreement conflicts with any other plan, programs, policy, practice or other SHO document, then the provisions of this Agreement will
control, except as otherwise precluded by law. Executive will not be eligible for any benefits under any transition or severance plan or program maintained by SHO. 

 

	 	16.	Entire Agreement. This Agreement, including the appendices hereto, contains and comprises the entire understanding and agreement between Executive and SHO and fully supersedes any and all other prior agreements
or understandings between Executive and SHO, in each case with respect to the subject matter contained herein, and may be amended only by a writing signed by (a) one of the Vice President of Human Resources or the Vice President, General
Counsel and Secretary (or equivalent) of SHO and (b) Executive. 

  

	 	17.	Tax Withholding. Any compensation paid or provided to Executive under this Agreement will be subject to any applicable federal, state or local income and employment tax withholding requirements.

  

	 	18.	Notices. All notices and other communications hereunder will be in writing and will be given by hand delivery to the other parties or by registered or certified mail, return receipt requested, postage prepaid,
addressed as follows: 

 If to Executive: At the most recent address on file at SHO. 

If to SHO: 5500 Trillium Blvd, Hoffman Estates, Illinois 60192, Attention to both: VP, Human Resources and VP, General
Counsel. 
  

	 	19.	Assignment. SHO may assign its rights under this Agreement to any successor in interest, whether by merger, consolidation, sale of assets, or otherwise. This Agreement will be binding whether it is between SHO
and Executive or between any successor or assignee of SHO and Executive. 

  
 11 

	 	20.	Section 409A Compliance. To the extent that a payment or benefit under this Agreement is subject to Code Section 409A, it is intended that this Agreement as applied to that payment or benefit comply
with the requirements of Code Section 409A, and the Agreement will be administered and interpreted consistent with this intent. If the Sixty (60)-Day Period following a Separation from Service begins in one calendar year and ends in a second
calendar year (a “Crossover 60-Day Period”) and if there are any payments due Executive under this Agreement that are: (i) conditioned on Executive signing and not revoking a release of claims and (ii) otherwise due to be
paid during the portion of the Crossover 60-Day Period that falls within the first year thereof, then such payments will be delayed and paid in a lump sum during the portion of the Crossover 60-Day Period that falls within the second year.
Executive’s right to receive installment payments pursuant to this Agreement will be treated as a right to receive a series of separate and distinct payment. 

 

	 	21.	Construction and Interpretation. In this Agreement (1) “includes” and “including” are inclusive and mean, respectively, “includes without limitation” and
“including without limitation,” (2) “or” is disjunctive but not necessarily exclusive, (3) “will” expresses an imperative, an obligation, and a requirement, (4) numbered
“Section” references refer to sections of this Agreement unless otherwise specified, (5) section headings are for convenience only and will have no interpretive value, and (6) unless otherwise indicated all references
to a number of days will mean calendar (and not business) days and all references to months or years will mean calendar months or years. 

  

	 	22.	Counterparts. This Agreement may be executed in one or more counterparts, which together will constitute a valid and binding agreement. 

IN WITNESS WHEREOF, Executive and SHO, by its duly authorized representative, have executed this Agreement on the dates stated below, effective as of the date
first set forth above. 
  

							
	EXECUTIVE	 		 	SEARS HOMETOWN AND OUTLET STORES, INC.
				
	/s/ William A. Powell	 		 	By:	 	/s/ Becky Iliff
	William A. Powell	 		 		 	Becky Iliff
		 		 		 	Vice President, Human Resources

  
 12 

 Appendix A to Amended and Restated Executive Severance Agreement 

SHO Competitors 
 The following companies (including
affiliates and subsidiaries within the same controlled group of corporations) are included within the definition of SHO Competitors as referred to under Section 4(c)(ii)(l) of the Amended and Restated Executive Severance Agreement between SHO
and Executive: 
 Ace Hardware 
 Lowe’s Home Improvement

 The Home Depot 
 Menard 

Whirlpool 
 ServiceMaster 

Rent-A-Center, Inc. 
 Aaron’s, Inc. 

ABT 
 Amazon 

HHGregg 
 Conn’s, Inc. 

Best Buy 
 Sears Holdings Corporation 

Tractor Supply Co. 
 True Value Company 

Wal-Mart 
 Target 

Caterpillar 
 John Deere 

SHO Vendors 
 The following companies (including
affiliates and subsidiaries within the same controlled group of corporations) are included within the definition of SHO Vendors as referred to under Section 4(d) of the Amended and Restated Executive Severance Agreement between SHO and
Executive: 
 Sears Holdings Corporation 
 Bosch 

Electrolux 
 General Electric 

LG 
 Samsung 

Whirlpool 
 MTD 

Techtronic Industries Company Limited Husqvarna 

  
 A-1 

 Appendix B to Amended and Restated Executive Severance Agreement 

GENERAL RELEASE AND WAIVER 
  

	
	  

NOTICE
  

YOU MAY CONSIDER THIS GENERAL RELEASE AND WAIVER FOR UP TO TWENTY-ONE (21) DAYS. IF YOU DECIDE TO SIGN IT, YOU MAY REVOKE THE GENERAL RELEASE AND
WAIVER WITHIN SEVEN (7) DAYS AFTER SIGNING (“THE REVOCATION PERIOD”). ANY REVOCATION WITHIN THIS PERIOD MUST BE IMMEDIATELY SUBMITTED, IN WRITING, TO PHILIP ETTER, HUMAN RESOURCES, SEARS HOMETOWN AND OUTLETS STORES, INC., 5500
TRILLIUM BLVD., HOFFMAN ESTATES, IL 60192, AND STATE THAT, “I HEREBY REVOKE MY ACCEPTANCE OF THE GENERAL RELEASE AND WAIVER.” THE GENERAL RELEASE AND WAIVER WILL NOT BECOME EFFECTIVE OR ENFORCEABLE UNTIL THE REVOCATION PERIOD HAS EXPIRED.
YOU SHOULD CONSIDER CONSULTING WITH AN ATTORNEY BEFORE SIGNING THIS DOCUMENT.
  

 In consideration of the payments and benefits I have received or will receive from Sears Hometown and Outlet Stores, Inc.
(“SHO”), including, without limitation, those that I have received or will receive in accordance with the terms of the Executive Severance Agreement between myself and SHO, dated _________, 2015, I, William A. Powell, for
myself, my heirs, administrators, representatives, executors, successors and assigns (collectively “Releasors”), do hereby release, waive, and forever discharge SHO and the current and former agents, parents, subsidiaries,
affiliates, related organizations, employees, officers, directors, shareholders, attorneys, successors, and assigns of SHO (collectively, the “SHO Parties”) from any and all liability, actions, charges, causes of action, demands,
damages, or claims for relief or remuneration, sums of money, accounts, or expenses (including attorneys’ fees and costs) of any kind whatsoever, whether known or unknown at this time, arising out of, or connected with, my employment with SHO
or any of its subsidiaries and the termination of such employment. The foregoing release, discharge and waiver includes all claims and any obligations or causes of action arising from such claims, including but not limited to, all matters in law, in
equity, in contract (oral or written, express or implied), in tort, or pursuant to statute, including claims under any federal, state or local statute or state or federal constitution, including, but not limited to, Title VII of the Civil Rights
Act of 1964, the Civil Rights Act of 1866 and 1871 (42 U.S.C. § 1981), the Civil Rights Act of 1991, the Age Discrimination in Employment Act, the Fair Labor Standards Act, the Employee Retirement Income Security Act, the Americans with
Disabilities Act, the Rehabilitation Act of 1973, the Worker Adjustment and Retraining Notification Act, the Family and Medical Leave Act, the National Labor Relations Act, the Equal Pay Act, or any other discrimination or/and employment laws
of Illinois or of any other state or municipality, to the fullest extent permitted under the law. 
 This General Release and Waiver does not apply to
any claims or rights that may arise after the date of execution of this General Release and Waiver. Also excluded from this General Release and Waiver are any claims which cannot be waived by law, including my right to file a charge with or
participate in an investigation conducted by the Equal Employment Opportunity Commission. I do, however, waive any right to any monetary or other relief of any kind flowing out of any agency or third-party claims or charges, including any charge I
might file with any state, local or federal agency. 

  
 B-1 

 I warrant and represent that I have not filed any complaint, charge, or lawsuit against the SHO Parties or any of
them with any governmental agency or with any court. I agree never to bring a lawsuit against any of the SHO Parties in any forum for any claim covered by this General Release and Waiver. If I violate this General Release and Waiver by suing any of
the SHO Parties, I agree that I will be liable to the SHO Parties for their reasonable attorney’s fees and other litigation costs and expenses incurred in defending against the lawsuit. 

I also waive any right to become, and promise not to consent to become, a member of any class in any case in which claims are asserted against any of the SHO
Parties that are related in any way to my employment with or the termination of my employment with SHO or any of its subsidiaries or affiliates, and that involve events which have occurred prior to the date of execution of this General Release and
Waiver. If I, without my knowledge, am made a member of a class in any proceeding, I agree that I will opt out of the class at the first opportunity afforded to me after learning of my inclusion. In this regard, I agree that I will execute, without
objection or delay, an “opt-out” form presented to me either by the court in which such proceeding is pending or by counsel for any of the SHO Parties. 

I have read this General Release and Waiver and understand all of its terms. 

I have signed it voluntarily with full knowledge of its legal significance and binding effect. 

I have had the opportunity to seek, and I have been advised in writing of my right to seek, legal counsel prior to signing this General Release and Waiver.

 I understand that the severance payments that I will be paid as an eligible participant under any transition pay or severance pay plan will be reduced by
the amount of any advances, loans, or other amounts that I owe to SHO and its subsidiaries, including payments made for vacation taken but not earned. 
 I
understand that I must notify SHO if I become employed during any applicable transition pay or severance pay period, and that transition pay or severance pay and benefits is subject to reduction or discontinuation as a result of new employment
(including new employment with SHO, any of its subsidiaries, any successor company, or any outsource company). 
 I was given at least twenty-one
(21) days to consider signing this General Release and Waiver. Any modification of this General Release and Waiver Agreement does not restart the twenty-one (21) day consideration period. 

I understand that if I sign the General Release and Waiver, I can change my mind and revoke it within seven (7) days after signing. I understand the
General Release and Waiver will not be effective until after the seven (7)-day revocation period has expired. 
 I understand that the delivery of the
consideration herein stated does not constitute an admission of liability by any of the SHO Parties and that each of the SHO Parties expressly denies any wrongdoing or liability in connection with my employment with or the termination of my
employment with SHO. 
 THIS IS A RELEASE. READ BEFORE SIGNING. 

Signed by: ______________________________ 
 Date: ___________,
20__ 

  
 B-2EX-4.1

 Exhibit 4.1 

THE CHEMOURS COMPANY 

EQUITY AND INCENTIVE PLAN 

 TABLE OF CONTENTS 

 

							
	Section	  	 	  	Page	 
			
	1.	  	PURPOSE; TYPES OF AWARDS; CONSTRUCTION	  	 	1	  
	2.	  	DEFINITIONS	  	 	1	  
	3.	  	ADMINISTRATION	  	 	5	  
	4.	  	ELIGIBILITY	  	 	7	  
	5.	  	STOCK SUBJECT TO THE PLAN	  	 	7	  
	6.	  	SPECIFIC TERMS OF AWARDS	  	 	8	  
	7.	  	CHANGE IN CONTROL PROVISIONS	  	 	13	  
	8.	  	GENERAL PROVISIONS	  	 	17	  

  
 i 

 THE CHEMOURS COMPANY 

EQUITY AND INCENTIVE PLAN 
  

	1.	PURPOSE; TYPES OF AWARDS; CONSTRUCTION. 

 The purposes of the Equity and Incentive Plan of The Chemours
Company are to attract, motivate and retain (a) employees of the Company and any Subsidiary and Affiliate, (b) independent contractors who provide significant services to the Company, any Subsidiary or Affiliate and (c) nonemployee
directors of the Company, any Subsidiary or any Affiliate. The Plan is also designed to encourage stock ownership by such individuals, thereby aligning their interest with those of the Company’s stockholders and to permit the payment of
compensation that qualifies as performance-based compensation under Section 162(m) of the Code. Pursuant to the provisions hereof, there may be granted stock options (including “incentive stock options” and “nonqualified stock
options”), and other stock-based awards, including but not limited to restricted stock, restricted stock units, dividend equivalents, performance units, stock appreciation rights (payable in cash or shares) and other long-term stock-based or
cash-based Awards. In addition, the Plan permits the issuance of long-term incentive awards in substitution of long-term incentive awards that covered shares of the common stock of DuPont immediately prior to the spinoff of the Company by DuPont.
Notwithstanding any provision of the Plan, to the extent that any Award would be subject to Section 409A of the Code, no such Award may be granted if it would fail to comply with the requirements set forth in Section 409A of the Code and
any regulations or guidance promulgated thereunder. 
  

	2.	DEFINITIONS. 

 For purposes of the Plan, the following terms shall be defined as set forth below: 

 

	 	(a)	“Affiliate” means an affiliate of the Company, as defined in Rule 12b-2 promulgated under Section 12 of the Exchange Act. 

 

	 	(b)	“Award” means individually or collectively, a grant under the Plan of Options, Restricted Stock, Restricted Stock Units, Other Stock-Based Awards, Other Cash-Based Awards or Conversion Awards.

  

	 	(c)	“Award Terms” means any written agreement, contract, or other instrument or document evidencing an Award. 

  

	 	(d)	“Beneficial Owner” shall have the meaning set forth in Rule 13d-3 under the Exchange Act. 

  

	 	(e)	“Board” means the Board of Directors of the Company. 

  

	 	(f)	 “Cause” shall have the meaning set forth in the Grantee’s employment or other agreement with the Company, any Subsidiary or any
Affiliate, if any, provided that if the Grantee is not a party to any such employment or other agreement or such employment or other agreement does not contain a definition of Cause, then Cause shall mean

	 	
(i) the willful and continued failure of the Grantee to perform substantially the Grantee’s duties with the Company or any Subsidiary or Affiliate (other than any such failure resulting
from incapacity due to physical or mental illness), after a written demand for substantial performance is delivered to the Grantee by the employing Company, Subsidiary or Affiliate that specifically identifies the alleged manner in which the Grantee
has not substantially performed the Grantee’s duties, or (ii) the willful engaging by the Grantee in illegal conduct or misconduct that is injurious to the Company or any Subsidiary or Affiliate, including without limitation any breach of
the Company’s Code of Business Conduct or other applicable ethics policy. 

  

	 	(g)	“Change in Control” shall have the meaning set forth in Section 7(c) hereof. 

  

	 	(h)	“Code” means the Internal Revenue Code of 1986, as amended from time to time. 

  

	 	(i)	“Committee” means the Compensation Committee of the Board. Unless otherwise determined by the Board, the Committee shall be comprised solely of directors who are (a) “nonemployee
directors” under Rule 16b-3 of the Exchange Act, (b) “outside directors” under Section 162(m) of the Code and (c) “independent directors” pursuant to New York Stock Exchange requirements. 

 

	 	(j)	“Company” means The Chemours Company, a corporation organized under the laws of the State of Delaware, or any successor corporation. 

 

	 	(k)	“Conversion Award” shall have the meaning set forth in Section 6(c) hereof. 

  

	 	(l)	“Covered Employee” shall have the meaning set forth in Section 162(m)(3) of the Code. 

  

	 	(m)	“Disability” means that a Grantee is considered to be disabled within the meaning of the applicable Company benefit plan. 

 

	 	(n)	“DuPont” means E. I. du Pont de Nemours and Company, a corporation organized under the laws of the State of Delaware. 

 

	 	(o)	“DuPont Award” shall have the meaning set forth in Section 6(c) hereof. 

  

	 	(p)	“Effective Date” means the date on which the Company becomes publicly traded in connection with its separation from DuPont. 

 

	 	(q)	“Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time, and as now or hereafter construed, interpreted and applied by regulations, rulings and cases. 

 

	 	(r)	“Excise Tax” shall have the meaning set forth in Section 7(d) hereof. 

  
 2 

	 	(s)	“Fair Market Value” means, with respect to Stock or other property, the fair market value of such Stock or other property determined by such methods or procedures as shall be established from time to
time by the Committee. Unless otherwise determined by the Committee in good faith, the per share Fair Market Value of Stock as of a particular date shall mean, (i) the closing sales price per share of Stock on the national securities exchange
on which the Stock is principally traded, or (ii) if the shares of Stock are then traded in an over-the-counter market, the average of the closing bid and asked prices for the shares of Stock in such over-the-counter market for the last
preceding date on which there was a sale of such Stock in such market, or if the shares of Stock are not then listed on a national securities exchange or traded in an over-the-counter market, such value as the Committee, in its sole discretion,
shall determine in good faith. 

  

	 	(t)	“Good Reason” shall have the meaning set forth in the Grantee’s employment or other agreement with the Company, any Subsidiary or any Affiliate, if any, provided that if the Grantee is not a party
to any such employment or other agreement or such employment or other agreement does not contain a definition of Good Reason, then Good Reason shall mean (i) a material diminution in the Grantee’s base compensation, (ii) a material
diminution in the Grantee’s authority, duties, or responsibilities, or (iii) a material change in the geographic location at which the Grantee must perform his/her services for the Company. 

 

	 	(u)	“Grantee” means an individual who, as an employee of or independent contractor or nonemployee director with respect to the Company, a Subsidiary or an Affiliate, has been granted an Award under the
Plan. 

  

	 	(v)	“ISO” means any Option intended to be and designated in the applicable Award Terms as an incentive stock option within the meaning of Section 422 of the Code. 

 

	 	(w)	“NQSO” means any Option that is not designated as an ISO in the applicable Award Terms. 

  

	 	(x)	“Option” means a right, granted to a Grantee under Section 6(b)(i), to purchase shares of Stock. An Option may be either an ISO or an NQSO. 

 

	 	(y)	“Other Cash-Based Award” means an Award granted to a Grantee under Section 6(b)(iv) hereof, including cash awarded as a bonus or upon the attainment of Performance Goals or otherwise as permitted
under the Plan. 

  

	 	(z)	 “Other Stock-Based Award” means an Award granted to a Grantee pursuant to Section 6(b)(iv) (and to the extent applicable
Section 6(b)(i)) hereof, that may be denominated or payable in, valued in whole or in part by reference to, or otherwise based on, or related to, Stock including but not limited to performance units, Stock Appreciation Rights (payable in cash
or shares) or dividend equivalents, each of which may be subject to the attainment of Performance Goals or a period of continued employment or other terms and conditions as permitted under the Plan.

  
 3 

	 	(aa)	“Performance Goals” means performance goals based on one or more of the following criteria: (i) earnings, including operating income, earnings before or after taxes, earnings before or after
interest, depreciation, amortization, or extraordinary or special items or book value per share (which may exclude nonrecurring items); (ii) pre-tax income or after-tax income; (iii) earnings per common share (basic or diluted);
(iv) operating profit; (v) revenue, revenue growth or rate of revenue growth; (vi) return on assets (gross or net), return on investment, return on capital, or return on equity; (vii) returns on sales or revenues;
(viii) operating expenses; (ix) stock price appreciation; (x) cash flow, free cash flow, cash flow return on investment (discounted or otherwise), net cash provided by operations, or cash flow in excess of cost of capital;
(xi) implementation or completion of critical projects or processes; (xii) economic value created; (xiii) cumulative earnings per share growth; (xiv) operating margin or profit margin; (xv) common stock price or total
stockholder return; (xvi) cost targets, reductions and savings, productivity and efficiencies; (xvii) strategic business criteria, consisting of one or more objectives based on meeting specified market penetration, geographic business
expansion, customer satisfaction, employee satisfaction, human resources management, supervision of litigation, information technology, and goals relating to acquisitions, divestitures, joint ventures and similar transactions, and budget
comparisons; (xviii) personal professional objectives, including any of the foregoing performance goals, the implementation of policies and plans, the negotiation of transactions, the development of long-term business goals, formation of joint
ventures, research or development collaborations, and the completion of other corporate transactions; and (xix) any combination of, or a specified increase in, any of the foregoing. Where applicable, the Performance Goals may be expressed in
terms of attaining a specified level of the particular criteria or the attainment of a percentage increase or decrease in the particular criteria, and may be applied to one or more of the Company, a Subsidiary or Affiliate, or a division or
strategic business unit of the Company, or may be applied to the performance of the Company relative to a market index, a group of other companies or a combination thereof, all as determined by the Committee. The Performance Goals may include a
threshold level of performance below which no payment will be made (or no vesting will occur), levels of performance at which specified payments will be made (or specified vesting will occur), and a maximum level of performance above which no
additional payment will be made (or at which full vesting will occur). Each of the foregoing Performance Goals shall be determined in accordance with generally accepted accounting principles, if applicable, and shall be subject to certification by
the Committee; provided that, to the extent an Award is intended to satisfy the performance-based compensation exception to the limits of Section 162(m) of the Code and then to the extent consistent with such exception, the Committee shall have
the authority to make equitable adjustments to the Performance Goals in recognition of unusual or non-recurring events affecting the Company or any Subsidiary or Affiliate or the financial statements of the Company or any Subsidiary or Affiliate, in
response to changes in applicable laws or regulations, or to account for items of gain, loss or expense determined to be extraordinary or unusual in nature or infrequent in occurrence or related to the disposal of a segment of a business or related
to a change in accounting principles. 

  
 4 

	 	(bb)	“Person” shall have the meaning set forth in Section 3(a)(9) of the Exchange Act, as modified and used in Sections 13(d) and 14(d) thereof and the rules thereunder, except that such term shall not
include (1) the Company or any Subsidiary corporation, (2) a trustee or other fiduciary holding securities under an employee benefit plan of the Company or any Subsidiary corporation, (3) an underwriter temporarily holding securities
pursuant to an offering of such securities, or (4) a corporation owned, directly or indirectly, by the stockholders of the Company in substantially the same proportions as their ownership of stock of the Company. 

 

	 	(cc)	“Plan” means this The Chemours Company Equity and Incentive Plan, as amended from time to time. 

  

	 	(dd)	“Plan Year” means a calendar year. 

  

	 	(ee)	“Restricted Stock” means an Award of shares of Stock to a Grantee under Section 6(b)(ii) that may be subject to certain restrictions and to a risk of forfeiture. 

 

	 	(ff)	“Restricted Stock Unit” means a right granted to a Grantee under Section 6(b)(iii) of the Plan to receive Stock or cash at the end of a specified period, which right may be subject to the
attainment of Performance Goals in a period of continued employment or other terms and conditions as permitted under the Plan. 

  

	 	(gg)	“Rule 16b-3” means Rule 16b-3, as from time to time in effect promulgated by the Securities and Exchange Commission under Section 16 of the Exchange Act, including any successor to such Rule.

  

	 	(hh)	“Stock” means shares of common stock, par value $0.01 per share, of the Company. 

  

	 	(ii)	“Stock Appreciation Right” or “SAR” means an Other Stock-Based Award, payable in cash or stock, that entitles a Grantee upon exercise to the excess of the Fair Market Value of the Stock
underlying the Award over the base price established in respect of such Stock. 

  

	 	(jj)	“Subsidiary” means any corporation in an unbroken chain of corporations beginning with the Company if, at the time of granting of an Award, each of the corporations (other than the last corporation in
the unbroken chain) owns stock possessing 50% or more of the total combined voting power of all classes of stock in one of the other corporations in the chain. 

  

	 	(kk)	“Total Payments” shall have the meaning set forth in Section 7(d) hereof. 

  
 5 

	3.	ADMINISTRATION. 

  

	 	(a)	The Plan shall be administered by the Committee or, at the discretion of the Board, the Board, provided that any Award to the Chairman of the Board shall be subject to ratification by the Board. In the event the Board
is the administrator of the Plan, references herein to the Committee shall be deemed to include the Board. The Board may from time to time appoint a member or members of the Committee in substitution for or in addition to the member or members then
in office and may fill vacancies on the Committee however caused. The Committee shall choose one of its members as chairman and shall hold meetings at such times and places as it shall deem advisable. A majority of the members of the Committee shall
constitute a quorum and any action may be taken by a majority of those present and voting at any meeting. Subject to applicable law, the Board may delegate to one or more officers, acting alone or together with one or more members of the Board,
authority to grant Awards to employees who are not subject to potential liability under Section 16(b) of the 1934 Act with respect to transactions involving equity securities of the Company at the time any such delegated authority is exercised,
subject however to prescribed limits set forth in the resolution of the Board delegating such authority. 

  

	 	(b)	The decision of the Committee as to all questions of interpretation and application of the Plan shall be final, binding and conclusive on all individuals and entities. The Committee shall have the authority in its
discretion, subject to and not inconsistent with the express provisions of the Plan, to administer the Plan and to exercise all the power and authority either specifically granted to it under the Plan or necessary or advisable in the administration
of the Plan, including without limitation, the authority to grant Awards, to determine the individuals to whom and the time or times at which Awards shall be granted, to determine the type and number of Awards to be granted, the number of shares of
Stock to which an Award may relate and the terms, conditions, restrictions and Performance Goals relating to any Award; to determine Performance Goals no later than such time as is required to ensure that an underlying Award which is intended to
comply with the requirements of Section 162(m) of the Code so complies; to determine whether, to what extent, and under what circumstances an Award may be settled, canceled, forfeited, accelerated, exchanged, or surrendered (provided that,
unless approved by the Company’s stockholders, no Award shall be settled, canceled, forfeited, exchanged or surrendered in exchange or otherwise in consideration for a new Award with a value in excess of the value of such settled, canceled,
forfeited, exchanged or surrendered Award); to make adjustments in the terms and conditions (including Performance Goals) applicable to Awards; to construe and interpret the Plan and any Award; to prescribe, amend and rescind rules and regulations
relating to the Plan; to determine the terms and provisions of the Award Terms (which need not be identical for each Grantee); and to make all other determinations deemed necessary or advisable for the administration of the Plan. The Committee may
correct any defect or supply any omission or reconcile any inconsistency in the Plan or in any Award Terms granted hereunder in the manner and to the extent it shall deem expedient to carry the Plan into effect and shall be the sole and final judge
of such expediency. No Committee member (or any individual to whom the Committee’s authority hereunder is delegated) shall be liable for any action or determination made with respect to the Plan or any Award. 

  
 6 

	4.	ELIGIBILITY. 

  

	 	(a)	Awards may be granted to officers, independent contractors, employees and nonemployee directors of the Company or of any of its Subsidiaries and Affiliates; provided, that ISOs shall be granted only to employees
(including officers and directors who are also employees) of the Company, its parent or any of its Subsidiaries. 

  

	 	(b)	No ISO shall be granted to any employee of the Company, its parent or any of its Subsidiaries if such employee owns, immediately prior to the grant of the ISO, stock representing more than 10% of the voting power or
more than 10% of the value of all classes of stock of the Company or a parent or a Subsidiary, unless the purchase price for the stock under such ISO shall be at least 110% of its Fair Market Value at the time such ISO is granted and the ISO, by its
terms, shall not be exercisable more than five years from the date it is granted. In determining the stock ownership under this paragraph, the provisions of Section 424(d) of the Code shall be controlling. 

 

	5.	STOCK SUBJECT TO THE PLAN. 

  

	 	(a)	 The maximum number of shares of Stock reserved for the grant or settlement of Awards under the Plan (the “Share Limit”) shall be 13,500,000
plus the number of shares of Stock made subject to Conversion Awards and shall be subject to adjustment as provided herein. The aggregate number of shares of Stock made subject to Awards granted during any fiscal year to any single individual (other
than with regard to Conversion Awards) shall not exceed 3,000,000. Determinations made in respect of the limitation set forth in the preceding sentence shall be made in a manner consistent with Section 162(m) of the Code. Such shares may, in
whole or in part, be authorized but unissued shares or shares that shall have been or may be reacquired by the Company in the open market, in private transactions or otherwise. If any shares subject to an Award (other than a Conversion Award) are
forfeited, canceled, exchanged or surrendered or if an Award (other than a Conversion Award) otherwise terminates or expires without a distribution of shares to the Grantee, the shares of stock with respect to such Award shall, to the extent of any
such forfeiture, cancellation, exchange, surrender, termination or expiration, again be available for Awards under the Plan. Notwithstanding the foregoing, shares of Stock that are exchanged by a Grantee or withheld by the Company as full or partial
payment in connection with any Award under the Plan, as well as any shares of Stock exchanged by a Grantee or withheld by the Company or any Subsidiary to satisfy the tax withholding obligations related to any Award under the Plan, shall not be
available for subsequent Awards under the Plan. Upon the exercise of any Award granted in tandem with any other Awards, such related Awards shall be canceled to the extent of the number of shares of Stock as to which the Award is exercised and,

  
 7 

	 	
notwithstanding the foregoing, such number of shares shall no longer be available for Awards under the Plan. Upon the exercise of a SAR, the total number of shares subject to such SAR shall not
again be available for Awards under the Plan. 

  

	 	(b)	Except as provided in an Award Terms or as otherwise provided in the Plan, in the event that the Committee shall determine that any dividend or other distribution (whether in the form of cash, Stock, or other property),
recapitalization, Stock split, reverse split, reorganization, merger, consolidation, spin-off, combination, repurchase, or share exchange, or other similar corporate transaction or event, affects the Stock such that an adjustment is appropriate in
order to prevent dilution or enlargement of the rights of Grantees under the Plan, then the Committee shall make such equitable changes or adjustments as it deems necessary or appropriate to any or all of (i) the number and kind of shares of
Stock or other property (including cash) that may thereafter be issued in connection with Awards or the total number of Awards issuable under the Plan, (ii) the number and kind of shares of Stock or other property issued or issuable in respect
of outstanding Awards, (iii) the exercise price, grant price or purchase price relating to any Award, (iv) the Performance Goals and (v) the individual limitations applicable to Awards; provided that, with respect to ISOs, any
adjustment shall be made in accordance with the provisions of Section 424(h) of the Code and any regulations or guidance promulgated thereunder, and provided further that no such adjustment shall cause any Award hereunder which is or becomes
subject to Section 409A of the Code to fail to comply with the requirements of such section. 

  

	6.	SPECIFIC TERMS OF AWARDS. 

  

	 	(a)	General. The term of each Award shall be for such period as may be determined by the Committee. Subject to the terms of the Plan and any applicable Award Terms, payments to be made by the Company or a Subsidiary or
Affiliate upon the grant, maturation, or exercise of an Award may be made in such forms as the Committee shall determine at the date of grant or thereafter, including, without limitation, cash, Stock, or other property, and may be made in a single
payment or transfer, in installments, or, subject to the requirements of Section 409A of the Code, on a deferred basis. 

  

	 	(b)	Awards. The Committee is authorized to grant to Grantees the following Awards, as deemed by the Committee to be consistent with the purposes of the Plan. The Committee shall determine the terms and conditions of such
Awards. 

  

	 	(i)	Options and SARs. The Committee is authorized to grant Options and SARs to Grantees on the following terms and conditions: 

  

	 	(A)	The Award Terms evidencing the grant of an Option under the Plan shall designate the Option as an ISO or an NQSO. 

  
 8 

	 	(B)	The exercise or base price per share of Stock underlying under an Option or SAR shall be determined by the Committee, but in no event shall the exercise or base price of an Option or SAR per share of Stock be less than
the Fair Market Value of a share of Stock as of the date of grant of such Option or SAR. The purchase price of Stock as to which an Option is exercised shall be paid in full at the time of exercise; payment may be made in cash, which may be paid by
check, or other instrument acceptable to the Company, or, with the consent of the Committee, in shares of Stock, valued at the Fair Market Value on the date of exercise (including shares of Stock that otherwise would be distributed to the Grantee
upon exercise of the Option), or if there were no sales on such date, on the next preceding day on which there were sales or (if permitted by the Committee and subject to such terms and conditions as it may determine) by surrender of outstanding
Awards under the Plan, or the Committee may permit such payment of exercise price by any other method it deems satisfactory in its discretion. In addition, subject to applicable law and pursuant to procedures approved by the Committee, payment of
the exercise price may be made through the sale of Stock acquired on exercise of the Option, valued at Fair Market Value on the date of exercise, sufficient to pay for such Stock (together with, if requested by the Company, the amount of federal,
state or local withholding taxes payable by Grantee by reason of such exercise). Any amount necessary to satisfy applicable federal, state or local tax withholding requirements shall be paid promptly upon notification of the amount due. The
Committee may permit such amount of tax withholding to be paid in shares of Stock previously owned by the employee, or a portion of the shares of Stock or cash, as applicable that otherwise would be distributed to such employee upon exercise of an
Option or SAR, or a combination of cash and shares of such Stock. 

  

	 	(C)	Options and SARs shall be exercisable over the exercise period (which shall not exceed ten years from the date of grant), at such times and upon such conditions as the Committee may determine, as reflected in the Award
Terms; provided that, the Committee shall have the authority to accelerate the exercisability of any outstanding Option or SAR at such time and under such circumstances as it, in its sole discretion, deems appropriate. An Option or SAR may be
exercised to the extent of any or all full shares of Stock as to which the Option has become exercisable, by giving written notice of such exercise to the Committee or its designated agent. No partial exercise may be made for less than one hundred
(100) full shares of Stock. 

  
 9 

	 	(D)	Upon the termination of a Grantee’s employment or service with the Company and its Subsidiaries or Affiliates, the Options or SARs granted to such Grantee, to the extent that they are exercisable at the time of
such termination, shall remain exercisable for such period as may be provided in the applicable Award Terms, but in no event following the expiration of their term. The treatment of any Option or SAR that is unexercisable as of the date of such
termination shall be as set forth in the applicable Award Terms. 

  

	 	(E)	Options or SARs may be subject to such other conditions including, but not limited to, restrictions on transferability of, or provisions for recovery of, the shares acquired upon exercise of such Options or SARs (or
proceeds of sale thereof), as the Committee may prescribe in its discretion or as may be required by applicable law. 

  

	 	(ii)	Restricted Stock. 

  

	 	(A)	The Committee may grant Awards of Restricted Stock, alone or in tandem with other Awards under the Plan, subject to such restrictions, terms and conditions, as the Committee shall determine in its sole discretion and as
shall be evidenced by the applicable Award Terms. The vesting of a Restricted Stock Award granted under the Plan and the terms upon which transfer restrictions shall lapse may be conditioned upon the completion of a specified period of employment or
service with the Company or any Subsidiary or Affiliate, upon the attainment of specified Performance Goals, and/or upon such other criteria as the Committee may determine in its sole discretion. 

 

	 	(B)	The Committee shall determine the price, which, to the extent required by law, shall not be less than par value of the Stock, to be paid by the Grantee for each share of Restricted Stock or unrestricted stock or stock
units subject to the Award. Each Award Terms with respect to such stock award shall set forth the amount (if any) to be paid by the Grantee with respect to such Award and when and under what circumstances such payment is required to be made.

  

	 	(C)	Except as provided in the applicable Award Terms, no shares of Stock underlying a Restricted Stock Award may be assigned, transferred, or otherwise encumbered or disposed of by the Grantee until such shares of Stock
have vested in accordance with the terms of such Award and all restrictions on transfer shall have lapsed. 

  

  
 10 

	 	(D)	If and to the extent that the applicable Award Terms may so provide, a Grantee shall have the right to vote and receive dividends on Restricted Stock granted under the Plan. Unless otherwise provided in the applicable
Award Terms, any Stock received as a dividend on or in connection with a stock split of the shares of Stock underlying a Restricted Stock Award shall be subject to the same vesting conditions and transfer restrictions as the shares of Stock
underlying such Restricted Stock Award. 

  

	 	(E)	Upon the termination of a Grantee’s employment or service with the Company and its Subsidiaries or Affiliates, the Restricted Stock granted to such Grantee shall be subject to the terms and conditions specified in
the applicable Award Terms. 

  

	 	(iii)	Restricted Stock Units. The Committee is authorized to grant Restricted Stock Units to Grantees, subject to the following terms and conditions: 

 

	 	(A)	The vesting of a Restricted Stock Unit Award granted under the Plan may be conditioned upon the completion of a specified period of employment or service with the Company or any Subsidiary or Affiliate, upon the
attainment of specified Performance Goals, and/or upon such other criteria as the Committee may determine in its sole discretion. The Committee shall have the authority to accelerate the settlement of any outstanding award of Restricted Stock Units
at such time and under such circumstances as it, in its sole discretion, deems appropriate, subject to the requirements of Section 409A of the Code. 

  

	 	(B)	Unless otherwise provided in an Award Terms or except as otherwise provided in the Plan, upon the vesting of a Restricted Stock Unit there shall be delivered to the Grantee, as soon as practicable following the date on
which such Award (or any portion thereof) vests (but in any event within such period as is required to avoid the imposition of a tax under Section 409A of the Code), that number of shares of Stock equal to the number of Restricted Stock Units
becoming so vested. 

  

	 	(C)	Subject to the requirements of Section 409A of the Code, an Award of Restricted Stock Units may provide the Grantee with the right to receive dividend equivalent payments with respect to Stock subject to the Award
(both before and after the Stock subject to the Award is earned or vested), which payments may be either made currently or credited to an account for the Grantee, and may be settled in cash or Stock, as determined by the Committee. Any such
settlements and any such crediting of dividend equivalents may be subject to such conditions, restrictions and contingencies as the Committee shall establish, including the reinvestment of such credited amounts in Stock equivalents.

  
 11 

	 	(D)	Upon the termination of a Grantee’s employment or service with the Company and its Subsidiaries or Affiliates, the Restricted Stock Units granted to such Grantee shall be subject to the terms and conditions
specified in the applicable Award Terms. 

  

	 	(iv)	Other Stock-Based or Cash-Based Awards. 

  

	 	(A)	The Committee is authorized to grant Awards to Grantees in the form of Other Stock-Based Awards or Other Cash-Based Awards, as deemed by the Committee to be consistent with the purposes of the Plan. The Committee shall
determine the terms and conditions of such Awards, consistent with the terms of the Plan, at the date of grant or thereafter, including the Performance Goals and performance periods. Stock or other securities or property delivered pursuant to an
Award in the nature of a purchase right granted under this Section 6(b)(iv) shall be purchased for such consideration, paid for at such times, by such methods, and in such forms, including, without limitation, Stock, other Awards, notes or
other property, as the Committee shall determine, subject to any required corporate action. 

  

	 	(B)	The maximum value of the aggregate payment that any Grantee may receive with respect to Other Cash-Based Awards pursuant to this Section 6(b)(iv) in respect of any annual performance period is $8,000,000 and for
any other performance period in excess of one year, such amount multiplied by a fraction, the numerator of which is the number of months in the performance period and the denominator of which is twelve (12). No payment shall be made to a Covered
Employee prior to the certification by the Committee that the Performance Goals have been attained. The Committee may establish such other rules applicable to the Other Stock- or Cash-Based Awards to the extent not inconsistent with
Section 162(m) of the Code. 

  

	 	(C)	Payments earned in respect of any Cash-Based Award may be decreased or, with respect to any Grantee who is not a Covered Employee, increased in the sole discretion of the Committee based on such factors as it deems
appropriate. Notwithstanding the foregoing, any Awards may be adjusted in accordance with Section 5(b) hereof. 

  

	 	(c)	 Converted DuPont Awards. The Company is authorized to issue Awards (“Conversion Awards”) in connection with the equitable adjustment
by DuPont of certain stock options, performance shares, restricted stock awards, performance units, restricted stock unit awards and any other equity-based awards previously granted by DuPont (collectively, the “DuPont Awards”).
Notwithstanding any other provision of the Plan to the contrary, in accordance with a formula for 

  
 12 

	 	
the conversion of DuPont Awards as determined by the Company in a manner consistent with the terms of the Employee Matters Agreement entered into in connection with the separation of the Company
from DuPont, (i) the number of shares to be subject to a Conversion Award shall be determined by the Committee and (ii) the other terms and conditions of each Conversion Award, including option exercise price, shall be determined by the
Committee. 

  

	7.	CHANGE IN CONTROL PROVISIONS. 

  

	 	(a)	Unless otherwise determined by the Committee or evidenced in an applicable Award Terms or employment or other agreement, in the event of a Change in Control: 

 

	 	(i)	Options and Stock Appreciation Rights 

  

	 	(A)	If the Company is the surviving entity or the surviving entity assumes the Options or SARs or substitutes in lieu thereof equivalent stock options or SARs relating to the stock of such surviving entity (“Substitute
Options/SARs”), the Options/SARs or the Substitute Options/SARs, as applicable, shall be governed by their respective terms; 

  

	 	(B)	If the Company is the surviving entity or the surviving entity assumes the Options/SARs or issues Substitute Options/SARs, and the Grantee is terminated without Cause or for Good Reason within twenty-four
(24) months following the Change in Control, Options/SARs or Substitute Options/SARs held by the Grantee that were not previously vested and exercisable shall become fully vested and remain exercisable until the date that is two (2) years
following the date of such termination, or the original expiration date, whichever first occurs; or 

  

	 	(C)	If the Company is not the surviving entity, and the surviving entity neither assumes the Options/SARs nor issues Substitute Options/SARs, each Option/SAR shall become fully vested and cancelled in exchange for a cash
payment in an amount equal to (i) the excess of Fair Market Value per share of the Stock subject to the Award immediately prior to the Change in Control over the exercise or base price (if any) per share of Stock subject to the Award multiplied
by (ii) the number of shares of Stock subject to the Option/SAR. 

  

	 	(ii)	Other Awards Not Subject to Performance Goals 

  

	 	(A)	If the Company is the surviving entity or the surviving entity assumes Awards (other than Options or SARs) not subject to Performance Goals (“Time-Vested Awards”) or substitutes in lieu thereof equivalent
stock awards relating to the stock of such surviving entity (“Substitute Awards”), the Time-Vested Awards or the Substitute Awards, as applicable, shall be governed by their respective terms; 

 

  
 13 

	 	(B)	If the Company is the surviving entity or the surviving entity assumes the Time-Vested Awards or issues Substitute Awards, and the Grantee is terminated without Cause or for Good Reason within twenty-four
(24) months following the Change in Control, Time-Vested Awards or Substitute Awards held by the Grantee that were not previously vested shall become fully vested; or 

 

	 	(C)	If the Company is not the surviving entity, and the surviving entity does not assume the Time-Vested Awards or issue Substitute Awards, the Time-Vested Awards shall become fully vested and cancelled in exchange for a
cash payment in an amount equal to the Fair Market Value per share of the Stock subject to the Award immediately prior to the Change in Control multiplied by the number of shares of Stock subject to the Award. 

 

	 	(iii)	Other Awards Subject to Performance Goals. Awards (other than Options or SARs) subject to Performance Goals shall be converted into Time-Vested Awards at target, without proration, and continue to vest as though such
Award had originally been granted as a Time-Vested Award with a restricted period equal in length to the performance period of such Award. Such Time-Vested Award shall thereafter be governed in accordance with their respective otherwise applicable
terms and subsection (ii) above. 

  

	 	(b)	The Committee may, in its sole discretion, provide that: (i) each Award shall, upon the occurrence of a Change in Control, be canceled in exchange for a payment in an amount equal to (A) the Fair Market Value
per share of the Stock subject to the Award immediately prior to the Change in Control over the exercise or base price (if any) per share of Stock subject to the Award multiplied by (B) the number of Shares granted under the Award; and
(ii) each Award shall, upon the occurrence of a Change in Control, be canceled without payment therefore if the Fair Market Value per share of the Stock subject to the Award immediately prior to the Change in Control is less than the exercise
or purchase price (if any) per share of Stock subject to the Award. 

  

	 	(c)	For purposes of the Plan, a “Change in Control” shall be deemed to have occurred if the event set forth in any one of the following paragraphs shall have occurred: 

 

	 	(i)	any Person is or becomes the Beneficial Owner, directly or indirectly, of securities of the Company (not including in the securities beneficially owned by such Person any securities acquired directly from the Company or
its Affiliates) representing 30% or more of the combined voting power of the Company’s then outstanding securities, excluding any Person who becomes such a Beneficial Owner in connection with a transaction described in clause (A) of
paragraph (iii) below; 

  
 14 

	 	(ii)	the following individuals cease for any reason to constitute a majority of the number of directors then serving: individuals who, on the date hereof, constitute the Board and any new director (other than a director
whose initial assumption of office is in connection with an actual or threatened election contest, including but not limited to a consent solicitation, relating to the election of directors of the Company) whose appointment or election by the Board
or nomination for election by the Company’s stockholders was approved or recommended by a vote of at least two-thirds (2/3) of the
directors then still in office who either were directors on the date hereof or whose appointment, election or nomination for election was previously so approved or recommended; 

 

	 	(iii)	there is consummated a merger or consolidation of the Company or any direct or indirect subsidiary of the Company with any other corporation or other entity, other than (A) a merger or consolidation which results
in (I) the voting securities of the Company outstanding immediately prior to such merger or consolidation continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity or any
parent thereof), in combination with the ownership of any trustee or other fiduciary holding securities under an employee benefit plan of the Company or any subsidiary of the Company, at least 60% of the combined voting power of the securities of
the Company or such surviving entity or any parent thereof outstanding immediately after such merger or consolidation and (II) the individuals who comprise the Board immediately prior thereto constituting immediately thereafter at least a majority
of the board of directors of the Company, the entity surviving such merger or consolidation or, if the Company or the entity surviving such merger is then a subsidiary, the ultimate parent thereof, or (B) a merger or consolidation effected to
implement a recapitalization of the Company (or similar transaction) in which no Person is or becomes the Beneficial Owner, directly or indirectly, of securities of the Company (not including in the securities Beneficially Owned by such Person any
securities acquired directly from the Company or its Affiliates) representing 30% or more of the combined voting power of the Company’s then outstanding securities; or 

 

	 	(iv)	 the stockholders of the Company approve a plan of complete liquidation or dissolution of the Company or there is consummated an agreement for the sale
or disposition by the Company of all or substantially all of the Company’s assets (it being conclusively presumed that any sale or disposition is a sale or disposition by the Company of all or substantially all of its assets if the consummation
of the sale or disposition is contingent upon approval by the Company’s stockholders unless the Board expressly determines in writing that such 

  
 15 

	 	
approval is required solely by reason of any relationship between the Company and any other Person or an Affiliate of the Company and any other Person), other than a sale or disposition by the
Company of all or substantially all of the Company’s assets to an entity (A) at least 60% of the combined voting power of the voting securities of which are owned by stockholders of the Company in substantially the same proportions as
their ownership of the Company immediately prior to such sale or disposition and (B) the majority of whose board of directors immediately following such sale or disposition consists of individuals who comprise the Board immediately prior
thereto. 

 Notwithstanding the foregoing, a “Change in Control” shall not be deemed to have occurred by virtue of
the consummation of any transaction or series of integrated transactions immediately following which the record holders of the common stock of the Company immediately prior to such transaction or series of transactions continue to have substantially
the same proportionate ownership in an entity which owns all or substantially all of the assets of the Company immediately following such transaction or series of transactions. 

 

	 	(d)	Unless otherwise provided by the Committee or set forth in a Grantee’s Award Terms, notwithstanding the provisions of this Plan, in the event that any payment or benefit received or to be received by the Grantee in
connection with a Change in Control or the termination of the Grantee’s employment or service (whether pursuant to the terms of this Plan or any other plan, arrangement or agreement with the Company, any Subsidiary, any Affiliate, any Person
whose actions result in a Change in Control or any Person affiliated with the Company or such Person) (all such payments and benefits, “Total Payments”) would be subject (in whole or part), to the excise tax imposed by Section 4999 of
the Code (the “Excise Tax”), then, after taking into account any reduction in the Total Payments provided by reason of Section 280G of the Code in such other plan, arrangement or agreement, the payment or benefit to be received by the
Grantee upon a Change in Control shall be reduced to the extent necessary so that no portion of the Total Payments is subject to the Excise Tax but only if the net amount of such Total Payments, as so reduced (and after subtracting the net amount of
federal, state and local income taxes on such reduced Total Payments) is greater than or equal to the net amount of such Total Payments without such reduction (but after subtracting the net amount of federal, state and local income taxes on such
Total Payments and the amount of Excise Tax to which the Executive would be subject in respect of such unreduced Total Payments). 

  

	 	(e)	Notwithstanding the foregoing provisions of this Section 7, a Change in Control shall result in the acceleration of the time of payment under an Award that is subject to Section 409A of the Code only if the
Change in Control also constitutes a change in the ownership or effective control of the Company or in the ownership of a substantial portion of the Company’s assets for purposes of Section 409A of the Code; provided that to the extent
that the time of payment under an Award otherwise would have been accelerated but for the application of this Section 7(e), vesting of the Grantee in such payment shall be accelerated. 

  
 16 

	8.	GENERAL PROVISIONS. 

  

	 	(a)	Nontransferability, Deferrals and Settlements. Unless otherwise determined by the Committee or provided in an Award Terms, Awards shall not be transferable by a Grantee except by will or the laws of descent and
distribution and shall be exercisable during the lifetime of a Grantee only by such Grantee or his guardian or legal representative. Notwithstanding the foregoing, any transfer of Awards to independent third parties for cash consideration without
stockholder approval is prohibited. Any Award shall be null and void and without effect upon any attempted assignment or transfer, except as herein provided, including without limitation any purported assignment, whether voluntary or by operation of
law, pledge, hypothecation or other disposition, attachment, divorce, trustee process or similar process, whether legal or equitable, upon such Award. The Committee may require or permit Grantees to elect to defer the issuance of shares of Stock
(with settlement in cash or Stock as may be determined by the Committee or elected by the Grantee in accordance with procedures established by the Committee), or the settlement of Awards in cash under such rules and procedures as established under
the Plan to the extent that such deferral complies with Section 409A of the Code and any regulations or guidance promulgated thereunder. It may also provide that deferred settlements include the payment or crediting of interest, dividends or
dividend equivalents on the deferral amounts. 

  

	 	(b)	No Right to Continued Employment, etc. Nothing in the Plan or in any Award granted or any Award Terms, promissory note or other agreement entered into pursuant hereto shall confer upon any Grantee the right to
continue in the employ or service of the Company, any Subsidiary or any Affiliate or to be entitled to any remuneration or benefits not set forth in the Plan or such Award Terms, promissory note or other agreement or to interfere with or limit in
any way the right of the Company or any such Subsidiary or Affiliate to terminate such Grantee’s employment or service. 

  

	 	(c)	Taxes. The Company or any Subsidiary or Affiliate is authorized to withhold from any Award granted, any payment relating to an Award under the Plan, including from a distribution of Stock, or any other payment to
a Grantee, amounts of withholding and other taxes due in connection with any transaction involving an Award, and to take such other action as the Committee may deem advisable to enable the Company and Grantees to satisfy obligations for the payment
of withholding taxes and other tax obligations relating to any Award. This authority shall include authority to withhold or receive Stock or other property with a Fair Market Value not in excess of the minimum amount required to be withheld and to
make cash payments in respect thereof in satisfaction of a Grantee’s tax obligations. 

  

	 	(d)	 Stockholder Approval; Amendment and Termination. The Plan shall take effect on the Effective Date but the Plan shall be subject to approval by
DuPont, which approval must occur before the Effective Date and within twelve (12) months after the date that the Plan is adopted by the Board. The Board may amend, alter or discontinue the Plan, but no

  
 17 

	 	
amendment, alteration, or discontinuation shall be made that would impair the rights of a Grantee under any Award theretofore granted without such Grantee’s consent, or that without the
approval of the stockholders (as described below) would, except as provided in Section 5, increase the total number of shares of Stock reserved for the purpose of the Plan. In addition, stockholder approval shall be required with respect to any
amendment that materially increases benefits provided under the Plan or materially alters the eligibility provisions of the Plan or with respect to which stockholder approval is required under the rules of any stock exchange on which Stock is then
listed. Unless earlier terminated by the Board pursuant to the provisions of the Plan, the Plan shall terminate on the tenth anniversary of its Effective Date. No Awards shall be granted under the Plan after such termination date. 

 

	 	(e)	No Rights to Awards; No Stockholder Rights. No individual shall have any claim to be granted any Award under the Plan, and there is no obligation for uniformity of treatment of Grantees. No individual shall have
any right to an Award or to payment or settlement under any Award unless and until the Committee or its designee shall have determined that an Award or payment or settlement is to be made. Except as provided specifically herein, a Grantee or a
transferee of an Award shall have no rights as a stockholder with respect to any shares covered by the Award until the date of the issuance of such shares. 

  

	 	(f)	Unfunded Status of Awards. The Plan is intended to constitute an “unfunded” plan for incentive and deferred compensation. With respect to any payments not yet made to a Grantee pursuant to an Award,
nothing contained in the Plan or any Award shall give any such Grantee any rights that are greater than those of a general creditor of the Company. 

  

	 	(g)	No Fractional Shares. No fractional shares of Stock shall be issued or delivered pursuant to the Plan or any Award. The Committee shall determine whether cash, other Awards, or other property shall be issued or
paid in lieu of such fractional shares or whether such fractional shares or any rights thereto shall be forfeited or otherwise eliminated. 

  

	 	(h)	Regulations and Other Approvals. 

  

	 	(i)	The obligation of the Company to sell or deliver Stock with respect to any Award granted under the Plan shall be subject to all applicable laws, rules and regulations, including all applicable federal and state
securities laws, and the obtaining of all such approvals by governmental agencies as may be deemed necessary or appropriate by the Committee. 

  

	 	(ii)	 Each Award is subject to the requirement that, if at any time the Committee determines, in its absolute discretion, that the listing, registration or
qualification of Stock issuable pursuant to the Plan is required by any securities exchange or under any state or federal law, or the consent or approval of any governmental 

  
 18 

	 	
regulatory body is necessary or desirable as a condition of, or in connection with, the grant of an Award or the issuance of Stock, no such Award shall be granted or payment made or Stock issued,
in whole or in part, unless listing, registration, qualification, consent or approval has been effected or obtained free of any conditions not acceptable to the Committee. 

 

	 	(iii)	In the event that the disposition of Stock acquired pursuant to the Plan is not covered by a then current registration statement under the Securities Act of 1933, as amended (the “Securities Act”), and is not
otherwise exempt from such registration, such Stock shall be restricted against transfer to the extent required by the Securities Act or regulations thereunder, and the Committee may require a Grantee receiving Stock pursuant to the Plan, as a
condition precedent to receipt of such Stock, to represent to the Company in writing that the Stock acquired by such Grantee is acquired for investment only and not with a view to distribution. 

 

	 	(i)	Section 409A. This Plan is intended to comply and shall be administered in a manner that is intended to comply with or be exempt from Section 409A of the Code and shall be construed and interpreted in
accordance with such intent. To the extent that an Award, issuance and/or payment is subject to Section 409A of the Code, it shall be awarded and/or issued or paid in a manner that will comply with Section 409A of the Code, including
proposed, temporary or final regulations or any other guidance issued by the Secretary of the Treasury and the Internal Revenue Service with respect thereto. Any provision of this Plan that would cause an Award, issuance and/or payment to fail to
satisfy Section 409A of the Code shall have no force and effect until amended to comply with Code Section 409A (which amendment may be retroactive to the extent permitted by applicable law). Notwithstanding anything contained herein or in
an Award Agreement to the contrary, (i) to the extent required in order to avoid accelerated taxation and/or tax penalties under Section 409A of the Code, a Grantee shall not be considered to have terminated employment with the Company or
its Affiliates for purposes of any Award, and no payment under any Award shall be due to the Grantee as a result of such termination, until the Grantee would be considered to have incurred a “separation from service” from the Company and
its Affiliates within the meaning of Section 409A of the Code, and (ii) to the extent that any payments to be made upon a Grantee’s separation from service would result in the imposition of any individual penalty tax imposed under
Section 409A of the Code, the payment shall instead be made on the first business day after the earlier of (A) the date that is six (6) months following such separation from service and (B) the date of the Grantee’s death.
Neither the Company nor any of its Affiliates makes any representations that any or all of the payments provided under any Award will be exempt from or comply with Section 409A of the Code and none of them makes any undertaking to preclude
Section 409A of the Code from applying to any such payment. 

  
 19 

	 	(j)	Awards to Employees Outside the United States. Awards may be granted to Grantees who are foreign nationals or employed outside the United States, or both, on such terms and conditions different from those
applicable to Awards to Grantees employed in the United States as may, in the judgment of the Committee, be necessary or desirable in order to recognize differences in local law or tax policy. The Committee also may impose conditions on the exercise
or vesting of Awards in order to minimize the Company’s obligation with respect to tax equalization for Grantees on assignments outside their home country. Moreover, the Committee may approve such supplements to, or amendments, restatements or
alternative versions of, the Plan as it may consider necessary or appropriate for such purposes without thereby affecting the terms of the Plan as in effect for any other purpose, provided that no such supplements, amendments, restatements or
alternative versions shall include any provisions that are inconsistent with the terms of the Plan, as then in effect, unless the Plan could have been amended to eliminate such inconsistency without further approval by the stockholders of the
Company. 

  

	 	(k)	Governing Law. The Plan and all determinations made and actions taken pursuant hereto shall be governed by the laws of the State of Delaware without giving effect to the conflict of laws principles thereof.

  
 20

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