Document:

EX-10.1

 Exhibit 10.1 

EXECUTION VERSION 
 TRANSITION
SERVICES AGREEMENT 
 This TRANSITION SERVICES AGREEMENT (this “Agreement”), is made and entered into as
of the 29th day of September, 2016, by and among Air Products and Chemicals, Inc., a company organized and existing under the Laws of Delaware (“Air Products”), on behalf of itself and those subsidiaries and/or Affiliates of Air
Products that will provide transition services pursuant to this Agreement (collectively with Air Products, the “Providers” and each individually, a “Provider”), and Versum Materials, Inc., a company organized and
existing under the laws of Delaware (“Versum”), on behalf of itself and those Versum subsidiaries that will receive transition services pursuant to this Agreement (collectively with Versum, the “Recipients” and each
individually, a “Recipient”). Each of Air Products and Versum is referred to herein as a “Party,” and together as the “Parties.”  

WHEREAS, the board of directors of Air Products has determined that it would be in the best interests of Air Products and its
stockholders to separate the Versum Business from Air Products;  
 WHEREAS, Air Products and Versum have entered into a
Separation Agreement (the “Separation Agreement”), dated as of September 29, 2016, which sets forth, among other things, the terms of the separation of the Air Products Retained Business and the Versum Business (such
transactions, as may be amended or otherwise modified from time to time, the “Separation”) and the distribution of Versum Common Stock to stockholders of Air Products; and 

WHEREAS, Versum has requested, and Air Products has agreed to provide, or cause one or more of the Providers to provide, for a limited
period of time beginning on the date hereof (the “Effective Date”), certain identified transitional, administrative and support services to Recipients pursuant to the terms and conditions of this Agreement. 

NOW, THEREFORE, in consideration of the mutual agreements, provisions and covenants contained in this Agreement and other good and
valuable consideration, the receipt and adequacy of which are hereby acknowledged, the Parties hereby agree as follows:  
  

	1.	Transition Services and Fees. 

  

	 	(a)	Transition Services. 

  

	 	(i)	Upon the terms and subject to the conditions set forth in this Agreement, Air Products shall provide, or cause to be provided, to Recipients the transition services specifically set forth on Exhibit A and on
Exhibit B, each attached hereto and made a part hereof, in accordance with the terms thereof (collectively referred to as the “Transition Services”). 

 

	 	(ii)	 Subject to Section 14(g) hereof, the Transition Services shall be performed to substantially the same
standard of care and level of service as if they were being performed for Providers and by individuals possessing substantially the same qualifications as Providers would require if such

	 	
Transition Services were being performed for Providers. The Transition Services shall be provided, or caused to be provided, by Providers to Recipients at a volume and scope consistent with the
use of such services by the Recipients prior to the Distribution Date, to the Recipient locations in place as of the Distribution Date. Providers may perform the Transition Services consistent with Providers’ past practices, or such practices
as Air Products may adopt from time to time with respect to itself and Providers after the Distribution Date. In no event shall any Recipient be entitled to any increase in the level of service, volume or scope of its use of any of the Transition
Services, or any change in, or addition to, the location(s) where such Transition Services are provided, without the prior written consent of Air Products. Recipients shall be responsible for any set-up or other costs incurred by Providers as a
result of Providers’ accommodating any such increase in the level of service, volume or scope of Transition Services, or change in location or additional location(s) of Transition Services. Requests for consent for increases or changes in
Transition Services may be made in each instance to the Providers’ TSA Manager (as defined below) and the appropriate Providers’ TSA Schedule Owner (as defined below), and in such instances the formalities of notice specified in
Section 10 shall be deemed waived with respect to each such request if the Providers’ TSA Manager and the appropriate Providers’ TSA Schedule Owner acknowledge in writing receipt of such each request. 

 

	 	(iii)	On or prior to the dates set forth on Exhibit A and Exhibit B hereto with respect to each Transition Service, and in any event on or prior to the last day of the Term or any Service Term Extension, Air
Products will cooperate and will cause its Affiliates to cooperate to support any transfer to Versum of data owned by Versum that was generated through performance of the applicable Transition Services. If requested by Versum, Air Products will
deliver and will cause its Affiliates to deliver to Versum, within such time periods as the Parties may reasonably agree, all records, data, files and other information received or computed for the benefit of Versum during the Term or any Service
Term Extension, as applicable, in electronic and/or hard copy form; provided, however, that Air Products and its Affiliates shall not have any obligation to provide or cause to provide data in any format other than the format in which
such data was originally generated. Versum shall be responsible for any and all third-party or other out-of-pocket costs and expenses incurred by Air Products and its Affiliates in providing the records, data, files and other information
contemplated by this Section 1(a)(iii), and Versum shall reimburse Air Products therefor pursuant to the terms set forth in Section 1(b) hereof. 

 

	 	(iv)	Versum further covenants and agrees that it will comply, and will cause Recipients to comply, with all Recipients’ obligations set forth on Exhibit A and Exhibit B. 

  
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	 	(v)	Each Provider, in providing the Transition Services may, as it deems necessary or appropriate in its sole discretion (a) use the personnel of such Provider or its Affiliates (it being understood that such personnel
can perform the Transition Services on behalf of such Provider on a full- or part-time basis, as determined by such Provider or its Affiliates) and (b) employ the services of third parties to the extent such third-party services are routinely
utilized to provide similar services to other businesses of such Provider or are reasonably necessary for the efficient performance of any such Transition Services. In performing the Transition Services, employees and representatives of a Provider
shall be under the direction, control and supervision of such Provider (and not its respective Recipient) and such Provider shall have the sole right to exercise all authority with respect to the employment (including termination of employment),
assignment and compensation of such employees and representatives (it being understood that no Recipient has any right hereunder to require that any Provider perform the Transition Services hereunder with specifically identified employees and that
the assignment of employees to provide such Transition Services shall be determined in the sole discretion of the applicable Provider). If any employee hiring or retention costs are incurred by Air Products or any Provider to hire or retain any
personnel necessary to provide the Transition Services, such costs shall be reimbursed to Air Products by Recipients, subject to clause 1(b)(ii)(B) below. 

  

	 	(vi)	If, after the execution of this Agreement and prior to the date that is two (2) months from the date hereof, the Parties determine that a service provided by or to the Versum Business as conducted by Air Products
or its Subsidiaries prior to the separation of the Versum Business from Air Products was inadvertently omitted from the Exhibits to this Agreement, then Versum may request that such additional services be added to this Agreement, it being agreed
that the fees for such services should be determined by the Parties on a basis consistent with the methodology for determining the initial Fees provided for the Transition Services; provided, however, that Air Products may withhold its
consent to the addition of any such additional services to this Agreement. If the Parties agree on the fees and other specific terms and conditions applicable to such services, the Parties shall execute an amendment to this Agreement that provides
for the substitution of the relevant portion(s) of Exhibit A and Exhibit B hereto, or additions or supplements to the relevant portion(s) of Exhibit A and Exhibit B hereto, in order to describe such service and the
agreement upon the related fees and other specific terms and conditions applicable thereto. 

  
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	 	(b)	Fees. 

  

	 	(i)	In consideration for providing the Transition Services, the Recipients shall pay to Providers the monthly fees set forth on Exhibit A and Exhibit B, plus applicable sales tax, value added tax or
other similar tax, if applicable (collectively, the “Fees”). Except as specifically set forth on Exhibit A or Exhibit B, within fifteen (15) days following the end of each calendar month, Providers shall send the
Recipients an invoice detailing the aggregate amount of Fees incurred or estimated to have been incurred during the immediately preceding month, which invoice shall be paid by the Recipients within fifteen (15) days following the date of the
invoice (unless Recipients, in good faith, dispute all or a portion of the amount thereof), subject to subsequent true-up invoices with respect to estimated Fees. Notwithstanding anything herein to the contrary, no Recipient shall withhold any
payments to Providers under this Agreement and such payments shall be made without any other set-off or deduction, notwithstanding any dispute that may be pending between them, whether under this Agreement or otherwise (any required adjustment being
made on subsequent invoices). Any invoice not paid within such fifteen (15) day period will accrue interest beginning on the day thereafter, and such interest will accrue until the date of payment at a rate of two percent (2%) over the
published U.S. prime lending rate available on Bloomberg U.S. Price Rate Index. Providers’ failure to invoice within fifteen (15) days following the end of a given calendar month for any Fees incurred during the previous calendar month
shall not constitute a waiver of Provider’s right to subsequently invoice and collect such Fees. Except as otherwise expressly provided herein, the Transition Services will be provided pursuant to the fee schedule and the currencies set forth
on Exhibit A and Exhibit B only at locations of Providers existing on the date hereof. 

  

	 	(ii)	 In addition to the payment of all Fees set forth under Section 1(b)(i) above, each Recipient shall
reimburse Air Products or the applicable Provider, at Air Products’ discretion, according to the time periods and other terms set forth in Section 1(b)(i) above, for (A) any additional third-party or other out-of-pocket
additional or increased costs and expenses incurred by Air Products or any Provider in connection with providing the Transition Services (including all travel-related expenses incurred in compliance with Air Products’ travel policies),
(B) any hiring and retention costs not in the ordinary course incurred by Provider to hire and retain necessary employees to provide Transition Services, provided that Versum is given the opportunity to approve such hiring and retention
measures or else agree to modify or decline the Transition Services to which such costs relate, (C) any third party or out of pocket costs, fees or other expenses, any time charges billed by Provider’s operations, engineering and IT
functions, and any extraordinary costs, fees or expenses (but for the avoidance of doubt, not employee severance costs) incurred by any Provider in planning and executing Recipients’ TSA Exit Plans, and (D) any other costs, fees, or other
expenses properly payable by Versum or Recipients pursuant to this Agreement. Notwithstanding anything to the contrary in this Agreement, if a Transition Service is being provided by a Provider to a Recipient hereunder through a third party as

  
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contemplated by Section 1.1(a)(v) and such third party increases the costs of such service, then such increased costs (and any corresponding adjustments to taxes payable or to be
withheld in connection with such Transition Service) shall be immediately passed along to such Recipient and reflected in a supplement to Exhibit A or Exhibit B, as applicable, provided, however, that such supplement may
include a means mutually acceptable to Air Products and Versum to modify or terminate such service to avoid or mitigate future impacts of such increased cost 

  

	 	(iii)	The Parties shall review the respective costs of each Provider providing Transition Services hereunder as of the date that is two months from the date hereof (and thereafter upon the written request of a Provider (which
may not be given more than once in any 30-day period)). Except for costs or expenses for Versum and/or Recipients for which each are responsible pursuant to Section 1(b)(ii) above, if it is determined in connection with any such review
that a Provider’s cost of providing Transition Services hereunder (taken individually) exceeds by at least ten percent the charge for such Transition Service(s), including because of circumstances beyond the reasonable control of such Provider
(including any Force Majeure Event), then, upon request of such Provider, such Provider and its Recipient shall negotiate in good faith to determine an appropriate adjustment to the then-current Fees for such services on a basis consistent with the
methodology for determining the initial Fees for the applicable Transition Services. 

  

	 	(iv)	The manner and means of invoicing for Fees shall be established in the Transition Services schedules (the “Transition Services Schedules” or “Schedules”). The manner and means of
invoicing for any other costs, fees and expenses payable under this Agreement, as well as the manner and means of collecting payment for any sum payable under this Agreement, shall be as established by Air Products from time to time, provided that
Versum shall identify the Recipient to be invoiced unless otherwise expressly identified in the Schedules. 

  

	 	(c)	Reverse Transition Services. In exchange for the consideration payable by Air Products to Versum as provided in Exhibit C (which, for the avoidance of doubt, may be settled as an off-set to the Fees and
other costs and expenses payable to Air Products by Versum pursuant to Section 1(b) hereof, at Air Products’ discretion), Versum will make available, or cause to be made available, to Air Products or its Affiliates, as applicable,
those services described on Exhibit C hereto (such services, the “Reverse Transition Services”). Versum’s or its relevant Affiliates’ performance thereof, as applicable, shall be deemed to be a Transition Service
being provided to Air Products and its Affiliates, and the terms, conditions and limitations of Versum or its relevant Affiliates supplying such Transition Service to Air Products and its Affiliates shall be identical to those applying to the
provision of Transition Services by Providers under this Agreement, mutatis mutandis. 

  
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	2.	Term and Termination. 

  

	 	(a)	Term. Unless terminated earlier in accordance with Section 2(c) below, or extended in accordance with Section 2(b) below, the term (the “Term”) of this Agreement shall
commence on the Effective Date and shall continue until the date that is twenty-four (24) months thereafter (the “Termination Date”). Individual Transition Service Schedules shall automatically terminate earlier if a shorter
term is indicated on the applicable Schedule in Exhibit A and Exhibit B hereto. 

  

	 	(b)	Extension. Versum may request that Air Products consent to an extension of the Term for a particular Transition Service Schedule (a “Service Term Extension”) by giving Air Products at least
forty-five (45) days’ advance written notice prior to the end of the Term, and Air Products will respond to any such request for a Service Term Extension within fifteen (15) Business Days of receipt; provided, however,
that Air Products may withhold its consent. Any Service Term Extension shall be: (1) for the entire Transition Service Schedule, (2) for a minimum of three (3) months, (3) irrevocable by Versum upon Air Products’ receipt of
such request, and (4) subject to the Fees set forth herein and in the Exhibits hereto with respect to any such continuing Transition Services, plus an incremental surcharge of ten percent (10%) for each of the first two Service Term
Extensions for that Transition Service and an incremental surcharge of fifteen percent (15%) for the third and any subsequent Service Term Extensions for that Transition Service. Additionally, if Air Products deems that an extension of a
Transition Service Schedule requires any other Transition Service Schedule to be extended due to their related nature, Air Products will provide notice to Versum that it must request in writing an extension of that affected Transition Service
Schedule before it accepts the extension request, whereupon Versum has the option within the next ten (10) days to either make such request or to withdraw its original request. Air Products shall not be required to seek consent from any third
party for any Service Term Extension. 

  

	 	(c)	Termination. This Agreement may be terminated as follows: 

  

	 	(i)	At any time, by the mutual written consent of Air Products and Versum; 

  

	 	(ii)	Automatically upon the earlier of (A) the Termination Date, or (B) the last day on which all Transition Services are provided hereunder as otherwise mutually agreed in a written amendment between Air Products
and Versum; 

  

	 	(iii)	 By Versum, with respect to any particular Transition Service, upon at least sixty (60) days’ prior
written notice to Air Products with respect to an IT Transition Service and at least thirty (30) days for all other Transition Services, identifying the particular Transition Service Schedule to be terminated and the effective date of
termination, which termination date must fall upon a month end unless Air Products otherwise agrees, and in no event shall a Transition Service be terminated prior to the date that is

  
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sixty (60) days following the Effective Date for an IT Transition Service or thirty (30) days for all other Transition Services unless approved by Air Products; provided,
however, that any Transition Service for which Versum requests termination pursuant to this Section 2(c)(iii) must be terminated in its entirety (by Schedule); provided further, that in the event that Versum provides
written notice of termination of any Transition Service and Air Products determines that the termination of such Transition Service would materially impair Air Products’, the applicable Provider’s or their respective Affiliates’
ability to continue to provide any other Transition Service(s) (including Transition Services set forth on any other Schedule included in Exhibit A or Exhibit B hereto) within ten (10) days of receipt of such notice of
termination, Air Products shall provide written notice to Versum of such anticipated material impairment identifying such Transition Service(s) anticipated to be materially impaired and including reasonable details with respect to the extent of such
anticipated material impairment, and of Air Products’ election whether to (I) decline Versum’s Transition Service(s) termination request or to (II) terminate such Transition Service(s) along with the Transition Service(s) identified
in the notice of material impairment, provided that in the case Air Products elects (II), Versum shall have the option within the next ten (10) days to withdraw its original termination request. Notwithstanding anything herein to the contrary,
any increased or additional costs, fees or expenses incurred by Air Products or any Provider as a result of the termination of any Transition Service(s) pursuant to this Section 2(c)(iii) (including but not limited to any increase or
additional costs associated with continuing Transition Service(s) set forth on any other Schedule included in Exhibit A or Exhibit B hereto, but not, for the avoidance of doubt, employee severance costs) shall be borne by Versum, and
Versum shall reimburse Providers therefor pursuant to the terms set forth in Section 1(b) hereof; 

  

	 	(iv)	 Subject to Section 14(g), (A) by either Air Products or Versum, in the event of a material
breach of this Agreement or any Exhibit hereto by the other Party (or any of such breaching Party’s Subsidiaries) and such breach continues uncured for a period of thirty (30) days following such non-breaching Party’s written notice
to the breaching Party describing the breach (provided that if a cure is not capable of being completed within such thirty (30) day period and such cure has been commenced and diligently pursued, such thirty (30) day period will be
reasonably extended), immediately upon notice by the non-breaching Party (1) terminating the entire Agreement, including the provision of all Transition Services pursuant hereto, or (2) terminating the Transition Service Schedule(s) that
is/are subject to such material breach, and specifying the particular Transition Service Schedule to be so terminated; or (B) by either Air Products or Versum, if the other Party (or any of its Subsidiaries) voluntarily files, or involuntarily
has filed against it (which filing remains undismissed within sixty (60) days of such involuntary 

  
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filing), any bankruptcy, receivership, insolvency or reorganization proceeding. The failure of a Party to exercise its rights hereunder with respect to a breach by any other Party shall not be
construed as a waiver of such rights nor prevent such Party from subsequently asserting such rights with regard to the same or similar defaults. Material breach of Versum or any Recipient includes but is not limited to: (1) failure to timely
provide Air Products with Versum’s TSA Exit Plans (as each is defined in each Transition Service Schedule); (2) failure to provide required notification to Air Products of extension or early termination of each Transition Service
Schedule(s) within the given notice periods; and (3) failure of any Recipient to pay Air Products or any Provider any sums due and payable to Air Products or any Provider under this Agreement within the given time periods. 

 

	 	(d)	Except as set forth in clause (c)(iii) above, the termination of any Transition Service pursuant to clauses (c)(iii) or (c)(iv)(A)(2) above shall not affect this Agreement with respect to the
Transition Services not terminated pursuant to such clauses (c)(iii) or (c)(iv)(A)(2) above. 

  

	 	(e)	Each Party acknowledges that the purpose of this Agreement is to provide the Transition Services on a transitional basis, until the Recipients can perform the applicable Transition Services for themselves, either
through their own personnel or through third parties. Accordingly, at all times from and after the Separation Time, Versum and the Recipients shall use reasonable best efforts to make or obtain approvals, permits or licenses, implement any necessary
systems, and take, or cause to be taken, any and all other actions necessary or advisable so as to render receipt of the Transition Services from Provider no longer necessary. Versum agrees to provide to Air Products a written exit plan with respect
to each Transition Service Schedule (each, an “TSA Exit Plan”) within the time periods set forth in Exhibit A and Exhibit B for each Transition Service Schedule. Each TSA Exit Plan shall include, among other things,
the following with respect to the Transition Services Schedule: (1) phases of implementation, (2) milestones, (3) desired Provider involvement, (4) Transition Service interdependency issues, (5) requested formats for
Recipient’s current transactional data to be transferred by Provider, and (6) contingencies. The costs, fees and expenses of the Providers to facilitate Recipients’ exit are not included in the Fees, and Recipients shall be
responsible for all additional costs, fees and expenses of both the Providers and the Recipients associated with the TSA Exit Plans as provided in this Agreement, and shall reimburse Providers therefor pursuant to the terms set forth in
Section 1(b) hereof. Air Products shall not be obligated to provide any services in connection with the execution of TSA Exit Plans, except to the extent Air Products agrees to do so. Air Products does not expect to favorably consider
providing services in connection with any TSA Exit Plan that (a) Air Products cannot provide using its then-current ordinary course resources and capabilities, giving due consideration to other obligations or (b) Versum is reasonably able
to provide to itself or that are reasonably obtainable from third-party service providers. 

  
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	 	(f)	In the event that a Recipient terminates any Transition Service(s) as contemplated by Section 2(c) earlier than the expiration of the Term or any Service Term Extension, if applicable, such Recipient shall
reimburse the applicable Provider for any and all out-of-pocket costs and expenses directly or indirectly incurred by such Provider or any of its Affiliates as a result of such early termination by such Recipient (but not, for the avoidance of
doubt, employee severance costs), including early termination fees and other costs incurred in order to terminate or reduce the level of services provided by third parties under Contracts with a Provider or any of its Affiliates, which services are
affected by such early termination, such reimbursement to be due and payable within the time periods and otherwise according to the terms set forth in Section 1(b) hereof. 

 

	3.	Manner of Providing Transition Services; Limitation on Liability; Indemnification. 

  

	 	(a)	Nothing in this Agreement shall require Providers to (i) render Transition Services in a manner or method different from the manner or method utilized by Providers in performing the Transition Services hereunder;
(ii) make any change or addition that would require (to be determined in Air Products’ sole discretion) any expenditure of additional capital, any expansion or modification to facilities, or any acquisition of additional equipment or
software, (iii) make any changes to Providers’ applications to support Recipients’ business processes or otherwise or (iv) make any efforts, in each case beyond commercially reasonable efforts, to provide the Transition Services
hereunder. Nothing in this Agreement shall impose a standard of care equal to or higher than that which may be applicable to commercial providers of similar services. THE PARTIES ACKNOWLEDGE THAT EACH PROVIDER MAKES NO REPRESENTATIONS OR WARRANTIES
(INCLUDING WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE) OR GUARANTEES OF ANY KIND, EXPRESS OR IMPLIED, WITH RESPECT TO ANY TRANSITION SERVICES PROVIDED HEREUNDER AND THAT THE TRANSITION SERVICES TO BE PROVIDED HEREUNDER ARE
FURNISHED “AS-IS,” “WHERE-IS,” AND WITH ALL FAULTS. THE RECIPIENTS SHALL NOT MAKE ANY CHANGE IN THEIR EXISTING “APPLICATION FOOTPRINT” UNTIL AFTER THE TERMINATION DATE UNLESS AIR PRODUCTS AGREES IN WRITING THAT SUCH
CHANGE SHALL NOT RESULT IN A DELAY OF THE COMPLETION OF THE TRANSITION. 

  

	 	(b)	 THE PARTIES ACKNOWLEDGE AND AGREE THAT, EXCEPT AS OTHERWISE SPECIFICALLY PROVIDED IN THE SEPARATION AGREEMENT, IN
THE EVENT THAT ANY SOFTWARE, HARDWARE, INFORMATION OR APPLICATIONS USED TO PROVIDE TRANSITION SERVICES ARE TRANSFERRED TO RECIPIENTS PURSUANT TO THIS AGREEMENT, SUCH SOFTWARE, HARDWARE, INFORMATION OR APPLICATIONS WILL BE TRANSFERRED “AS-IS,
WHERE-IS” AND PROVIDERS MAKE NO REPRESENTATION OR WARRANTY AS TO THE CONDITION OF SUCH SOFTWARE, HARDWARE, INFORMATION OR APPLICATION EXCEPT AS AND TO THE EXTENT SET FORTH IN THE

  
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SEPARATION AGREEMENT, NOR SHALL PROVIDERS HAVE ANY LIABILITY TO MAINTAIN SUCH SOFTWARE, HARDWARE, INFORMATION OR APPLICATION FOLLOWING THE CLOSING EXCEPT AND TO THE EXTENT AS REQUIRED BY THIS
AGREEMENT. FURTHERMORE, PROVIDERS MAKE NO REPRESENTATION OR WARRANTY OF TITLE OR OF ANY RIGHT TO USE ANY SUCH SOFTWARE, HARDWARE OR APPLICATIONS, TO THE EXTENT THAT ANY OF THE FOREGOING CONTAIN THIRD PARTY OR OPEN SOURCE CODE. 

 

	 	(c)	Determination of the suitability of any Transition Services furnished hereunder for the use contemplated by Recipients is the sole responsibility of Recipients, and Providers will have no responsibility in connection
therewith. The Recipients assume all risk and liability for loss, damage or injury to persons or property arising out of such Transition Services however used. Except as provided in this Section 3(c) or in Section 3(g) and notwithstanding
anything to the contrary in this Agreement, Providers shall in no event be liable to Recipients or any third party, including those claiming by, through or under Recipients (including employees, agents, customers, subtenants, contractors and other
invitees), for any damage, including, without limitation, personal or property damage, suffered by any of them, directly or indirectly, as a result of any Transition Services provided hereunder (or the failure to provide any Transition Services
hereunder), regardless of whether due or alleged to be due to the negligence of Providers, or whether arising in contract, tort (including negligence or strict liability) or otherwise, except for Indemnifiable Losses of the applicable Recipient to
the extent such Indemnifiable Losses are the direct result of such Provider’s gross negligence, willful misconduct or fraud; provided that for all purposes under this Agreement, including this Section 3(c) and Section 3(g), in
no event shall such Provider liability exceed the Fees previously paid to such Provider by such Recipient in respect of the Transition Service from which such liability flows, or to the extent the liability arises out of a Provider breaching this
Agreement by not providing the services (or level of services) required hereunder, then the liability shall not exceed the Fees previously paid to such Provider by such Recipient in respect of the Transition Service from which such liability flows;
provided, that, for purposes of this Section 3(c), “Fees” shall include only the amounts collected and retained by Air Products or the applicable Provider(s) and shall be exclusive, in each case, of any
third-party costs or fees included in the Fees and passed through by Air Products or the applicable Provider(s). Notwithstanding anything to the contrary contained herein, the Providers shall have no liability of any kind or nature whatsoever
(including direct, indirect, consequential, special, incidental or punitive damages) to any Recipient for such Provider’s ceasing to provide any Transition Service upon the expiration of the Term for such Transition Service or the proper
termination of this Agreement pursuant to Section 2(c) hereof. 

  

  
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	 	(d)	NOTWITHSTANDING ANYTHING IN THIS AGREEMENT TO THE CONTRARY, NEITHER PARTY SHALL, UNDER ANY CIRCUMSTANCES, BE LIABLE UNDER AND IN CONNECTION WITH THIS AGREEMENT, INCLUDING FOR FAILURE TO PROVIDE ANY SERVICE HEREUNDER, TO
THE OTHER PARTY FOR ANY INCIDENTAL, INDIRECT, CONSEQUENTIAL, EXEMPLARY OR PUNITIVE DAMAGES OF ANY KIND, INCLUDING, WITHOUT LIMITATION, BUSINESS INTERRUPTION LOSSES, INDIRECT LOSS OF PROFITS, LOSS OF GOODWILL, DIMINUTION IN VALUE OR THIRD PARTY
CLAIMS, WHETHER CAUSED BY BREACH OF THIS AGREEMENT OR OTHERWISE AND WHETHER ARISING IN CONTRACT, TORT (INCLUDING NEGLIGENCE OR STRICT LIABILITY) OR OTHERWISE; PROVIDED THAT THE FOREGOING LIMITATION SHALL NOT LIMIT RECIPIENTS’ OBLIGATIONS
TO PAY FOR THE TRANSITION SERVICES IN ACCORDANCE WITH THE TERMS OF THIS AGREEMENT. 

  

	 	(e)	RECIPIENTS SHALL INDEMNIFY PROVIDERS AND THEIR AFFILIATES AND THEIR RESPECTIVE OFFICERS, DIRECTORS, EMPLOYEES AND AGENTS (EACH A “PROVIDER INDEMNITEE”) AGAINST ALL INDEMNIFIABLE LOSSES SUFFERED BY ANY OF THEM
THAT PERTAIN TO THE PERFORMANCE OF (OR FAILURE TO PERFORM) THE TRANSITION SERVICES (WHETHER OR NOT ALLEGEDLY ARISING OUT OF CONTRACT, TORT (INCLUDING NEGLIGENCE OR STRICT LIABILITY) OR OTHERWISE), REGARDLESS OF WHETHER SUCH INDEMNIFIED LOSSES ARE
CAUSED IN WHOLE OR IN PART BY THE NEGLIGENCE OF THE PROVIDER INDEMNITEE, OR IN CONNECTION WITH THE DEFENSE OF ANY ACTION BASED ON SUCH ACTIVITIES, INCLUDING REASONABLE ATTORNEYS’ FEES AND EXPENSES OF INVESTIGATION (WHICH FEES AND EXPENSES SHALL
BE PAID AS INCURRED); PROVIDED HOWEVER, THAT SUCH INDEMNITY SHALL NOT APPLY FOR THE BENEFIT OF A PROVIDER INDEMNITEE TO THE EXTENT IT IS ULTIMATELY FOUND THROUGH SETTLEMENT OR BY FINAL, NON-APPEALABLE ORDER THAT SUCH PROVIDER
INDEMNITEE’S ACTIONS CONSTITUTED GROSS NEGLIGENCE, WILLFUL MISCONDUCT OR FRAUD. THIS INDEMNIFICATION SHALL APPLY NOTWITHSTANDING ANY LIMITATIONS ARISING OUT OF WORKERS’ COMPENSATION OR OTHER LIKE STATUTES. THE ENUMERATED PERSONS ENTITLED
TO INDEMNIFICATION PURSUANT TO THE FOREGOING SHALL BE THIRD PARTY BENEFICIARIES TO THE RIGHTS TO INDEMNIFICATION DESCRIBED IN THIS SECTION 3(E). THE INDEMNIFICATION OBLIGATIONS SET FORTH IN THIS SECTION 3(E) ARE THE EXCLUSIVE INDEMNIFICATION
OBLIGATIONS AND THE SOLE AND EXCLUSIVE REMEDY WITH RESPECT TO THE MATTERS ADDRESSED IN THIS SECTION 3(E) AND ARE IN LIEU OF ANY OTHER INDEMNIFICATION OBLIGATIONS OF RECIPIENTS (IF ANY) UNDER THE SEPARATION AGREEMENT OR ANY OTHER ANCILLARY AGREEMENT
WITH RESPECT TO THE MATTERS SET FORTH HEREIN. 

  
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	 	(f)	EACH RECIPIENT ACKNOWLEDGES THAT (I) THE PROVIDERS ARE NOT COMMERCIAL PROVIDERS OF THE SERVICES PROVIDED HEREIN AND ARE PROVIDING THE SERVICES AS AN ACCOMMODATION AND AT A COST TO THE APPLICABLE RECIPIENT IN
CONNECTION WITH THE SEPARATION AND (II) THIS AGREEMENT IS NOT INTENDED BY THE PARTIES TO HAVE ANY APPLICABLE PROVIDER MANAGE AND OPERATE THE VERSUM BUSINESS IN LIEU OF THE APPLICABLE RECIPIENT. THE PARTIES AGREE THAT THE FOREGOING SHALL BE TAKEN
INTO CONSIDERATION IN ANY CLAIM MADE UNDER THIS AGREEMENT. 

  

	 	(g)	SUBJECT TO THE OTHER LIMITATIONS SET FORTH IN THIS AGREEMENT (INCLUDING THIS SECTION 3), PROVIDERS SHALL INDEMNIFY RECIPIENTS AND THEIR AFFILIATES AND THEIR RESPECTIVE OFFICERS, DIRECTORS, EMPLOYEES AND AGENTS, AGAINST
ALL INDEMNIFIABLE LOSSES SUFFERED BY ANY OF THEM THAT PERTAIN TO THE PERFORMANCE OF (OR THE FAILURE TO PERFORM) THE TRANSITION SERVICES, BUT ONLY TO THE EXTENT THAT SUCH LIABILITY RELATES TO, ARISES OUT OF OR RESULTS FROM THE PROVIDER’S GROSS
NEGLIGENCE, WILLFUL MISCONDUCT OR FRAUD WITH RESPECT TO THE FURNISHING OR FAILURE TO FURNISH THE TRANSITION SERVICES. THE INDEMNIFICATION OBLIGATIONS SET FORTH IN THIS SECTION 3(G) ARE THE EXCLUSIVE INDEMNIFICATION OBLIGATIONS AND THE SOLE AND
EXCLUSIVE REMEDY WITH RESPECT TO THE MATTERS ADDRESSED IN THIS SECTION 3(G) AND ARE IN LIEU OF ANY OTHER INDEMNIFICATION OBLIGATIONS OF PROVIDERS (IF ANY) UNDER THE SEPARATION AGREEMENT OR ANY OTHER ANCILLARY AGREEMENT WITH RESPECT TO THE MATTERS
SET FORTH HEREIN. 

  

	 	(h)	Notwithstanding anything in this Agreement to the contrary, Providers shall have the right to limit any Transition Service in the event Providers determine after prior consultation with the Recipients, in
Providers’ reasonable discretion, that such Transition Services creates an unacceptable safety, liability or data security risk to Providers or any of their Affiliates, provided that if Providers do so limit the provision of such Transition
Service, Recipients shall have no obligation to pay for any such Transition Service to the extent not rendered by Providers. As of the date of the Effective Date, Air Products was not actually aware of any risk described in this Section 3(g)
that would have been reasonably expected to cause Providers to limit a Transition Service pursuant to this section. 

  

	 	(i)	Providers shall be entitled to assign all or parts of this Agreement to a third party reasonably acceptable to Recipients if, in Providers’ reasonable discretion, that is the only way to continue to provide the
Transition Service to Recipients. 

  

	 	(j)	 All employees and contractors of Providers or any of their Affiliates shall be for all purposes, including
compensation and employee benefits, employees or contractors of Providers or their Affiliates, as applicable, and not employees or contractors of Recipients or their Affiliates. Providers and their Affiliates shall be

  
 12 

	 	
solely responsible for the payment of all salary and benefits and all income tax, social security taxes, unemployment compensation, severance costs, tax, workers’ compensation tax, other
employment taxes or withholdings and premiums and remittances with respect to employees and contractors of any Provider or its Affiliates used to provide Transition Services. Providers and their Affiliates shall be solely responsible for compliance
with all legal and other obligations with respect to the employees and contractors used in connection with the provision of Transition Services, including employment, payroll and benefits matters. 

 

	4.	Limitations and Exclusions. 

  

	 	(a)	Except with respect to fraud, willful and material breach of any provision of this Agreement (other than any such breach that gives rise to an Indemnifiable Loss subject to Sections 3(c) or 3(g)) or in order to seek
specific performance of the terms of this Agreement, without limiting the provisions of Section 3, each Recipient expressly waives any and all rights that it or any Versum Group members may have to bring any suit or claim against Air Products
Group members, their Affiliates, third-party agents or contractors relating to or arising out of this Agreement. 

  

	 	(b)	The Providers shall have no obligation to provide any Information to the Recipients relating to systems or operations, including computer systems, of Providers, members of the Air Products Group or their respective
third party agents or contractors, except to the extent that Air Products determines that disclosure of such Information is necessary to provide the Transition Services hereunder. 

 

	 	(c)	The Providers shall not be required to perform any of their obligations under this Agreement to the extent such Provider reasonably believes that performing such obligation would violate any Law, any code of conduct
applicable to such Provider or, subject to the provisions of Section 9, any existing Contract with a third party. Each of Air Products and Versum and any of their Affiliates providing or receiving the affected Transition Service shall
cooperate in good faith to implement changes and/or modifications to any manner or method of providing such Transition Service, which in a Provider’s sole discretion, are reasonably necessary to ensure that such Transition Service is performed
in strict accordance with applicable Law, any code of conduct applicable to such Provider or any existing Contract with a third party. The Recipient receiving such Transition Service shall promptly implement any such changes and/or modifications at
such Recipient’s sole cost. Without limiting the foregoing, no Provider personnel, supervisors, agents or contractors shall be required to remain at a site if conditions at such site present a hazard to such person’s health or safety. Each
Party shall comply, and shall cause its applicable Affiliates to comply, with all applicable state, federal and foreign copyright, privacy and data protection Laws that are or that may in the future be applicable to the provision of the Transition
Services under this Agreement. 

  
 13 

	 	(d)	It is not the intent of any Provider to render, nor of any Recipient to receive from any Provider, professional advice or opinions, whether with regard to tax, legal, regulatory, compliance, treasury, finance,
employment or other business and financial matters, technical advice, whether with regard to information technology or other matters, or the handling of or addressing environmental matters. The Recipients shall not rely on, or construe, any
Transition Service rendered by or on behalf of any Provider as such professional advice or opinions or technical advice; and the Recipients shall seek all third-party professional advice and opinions or technical advice as they may desire or need
independently of this Agreement. 

  

	 	(e)	The Providers shall not be obligated to perform any service or function to support the assets transferred to Versum pursuant to the Separation Agreement or otherwise except as expressly set forth herein or in any
Exhibit or ancillary agreement hereto. 

  

	5.	Recipient Obligations. To the extent reasonably required to perform the Transition Services and during normal working hours or with advance notice subject to the Recipients’ site safety rules, the Recipients
shall (at their own expense) provide Provider personnel, agents or contractors and the supervisors of such personnel with reasonable and timely access to Recipients’ office space, plants, equipment, information, premises, personnel, power,
telecommunications systems and circuits, computer systems, software and any other areas and equipment. Without limiting the foregoing, the Recipients shall make accessible to the Providers, as needed, the Recipients’ key users and other
Recipient personnel responsible for the execution, maintenance and enhancement of processes relating to the Transition Services. 

  

	6.	Title to Intellectual Property. Except as expressly provided under the terms of this Agreement, each Recipient acknowledges that it shall acquire no right, title or interest (including any license rights or
rights of use) in any Intellectual Property which is owned or licensed by any Provider or any of their respective Affiliates or any third party, if applicable, by reason of the provision of the Transition Services provided hereunder. Each Recipient
agrees not to remove or alter any Copyright, Trademark, confidentiality or other proprietary notices that appear on any Intellectual Property owned or licensed by any Provider or any of their respective Affiliates or any third party, if applicable,
and each Recipient agrees to reproduce any such notices on any and all copies thereof. 

  

	7.	 Cooperation and TSA Managers. Subject to the terms of this Agreement, each Party agrees to use reasonable
efforts in good faith to cooperate with the other Party in all matters relating to the provision and receipt of the Transition Services. If requested by Recipients, the Parties will consult with each other in good faith with respect to changing or
modifying the Transition Services (provided there shall be no obligation to change or modify the Transition Services without the mutual written agreement of Recipients, on the one hand, and Providers, on the other hand). To facilitate such
cooperation and consultation, the Parties agree to designate (a) the individuals set forth in the Schedules to Exhibit A, Exhibit B and Exhibit C hereto as the primary representatives of each Party with respect to each Transition Service
Schedule (each, a “Schedule Owner”, and together the “Schedule Owners”) and (b) one individual, as designated on Exhibit D 

  
 14 

	 	
hereto, as the primary liaison between the Parties for the provision of and the transfer of responsibility for the Transition Service(s) (each, a “TSA Manager”, and together the
“TSA Managers”). The TSA Managers shall meet regularly in person, telephonically or as they otherwise agree during the Term or any Service Term Extension, to discuss any issues arising under this Agreement and the need for any
changes, modifications or additions to this Agreement. 

  

	8.	Confidentiality. Each Party agrees that it, its employees, agents and representatives shall keep confidential all Confidential Information obtained from the other Party or its representatives or generated by it
for the other Party or its representatives in the provision of the Transition Services in connection with this Agreement in the same manner that such Party keeps its own such data and Information confidential, provided such manner of care shall not
be less than the exercise of reasonable care, except for Information in the public domain or that the receiving Party can demonstrate by tangible evidence is already in such Party’s possession at the time of disclosure thereof, or information
subsequently received by the Party, in each case through sources other than the disclosing Party, which sources are not under an obligation of confidentiality to the disclosing Party, and except as disclosure thereof may be required by applicable
Law as reasonably determined by legal counsel to such Party. Confidentiality obligations set forth in any agreement between the Parties or between or among the Parties and their employees, agents and representatives shall remain in full force and
effect. 

  

	9.	Third Party Consents. 

  

	 	(a)	Obligation to Obtain Consents. Providers shall use commercially reasonable efforts to obtain all consents from third party vendors that to such Provider’s knowledge are required to provide the Transition
Services to the Recipients; provided, however, that the Recipients shall be solely responsible for all costs paid or coming due after the Separation Time associated with securing such consents from such third party vendors.
Notwithstanding the foregoing, Providers shall have no obligation to obtain the consent of any third party, or pay any fee or expense relating thereto, in connection with the exit of any Transition Service as contemplated by
Section 2(e). 

  

	 	(b)	Non-Consenting Third Parties. Notwithstanding the foregoing or anything to the contrary contained in this Agreement, no Provider shall be required to provide any Transition Service to the extent that such
Provider does not obtain the consent of a third party required to provide the Transition Service, or where providing such Transition Service would, in such Provider’s reasonable judgment, violate the rights of any third party.

  

	10.	Notices. All notices, consents, waivers, and other communications under this Agreement must be in writing and will be deemed to have been duly given when (i) delivered by hand (with written confirmation of
receipt), (ii) sent by facsimile (with written confirmation of receipt), provided that a copy is mailed by registered or certified mail, return receipt requested, or (iii) when received by the addressee, if sent by a nationally recognized
overnight delivery service (receipt requested), in each case to the appropriate addresses and facsimile numbers set forth below (or to such other addresses and facsimile numbers as a party may designate by notice to the other Parties):

  
 15 

 If to Air Products or any Provider: 

Air Products and Chemicals, Inc. 

Attn: Corporate Secretary 
 7201
Hamilton Boulevard 
 Allentown, PA 18195-1501 

Fax: +1-610-481-5765 
 If to
Versum or any Recipient: 
 Versum Materials, Inc. 

Attn: Corporate Secretary 
 7201
Hamilton Boulevard 
 Allentown, PA 18195-1501 

Fax: +1-610-481-8223 
  

	11.	Governing Law and Dispute Resolution. 

  

	 	(a)	This Agreement and any non-contractual obligations arising out of or in connection with this Agreement shall be governed by, and interpreted in accordance with, the law of the Commonwealth of Pennsylvania, without
regard to its conflicts of laws provisions. 

  

	 	(b)	Any dispute between the Parties arising out of or relating to this Agreement, in the event the applicable Schedule Owners fail to agree to a resolution, shall be referred to the TSA Managers for resolution. The TSA
Managers shall meet promptly and, in good faith, attempt to resolve the controversy, claim or issues referred them. If the TSA Managers do not resolve the dispute within thirty (30) days after the dispute is referred to them, the dispute shall
be referred to the respective executive officers of each Party designated by such Party to resolve any such disputes arising under this Agreement (each such executive, a “TSA Executive” and together, the “TSA
Executives”). If the TSA Executives are unable to resolve the dispute within a thirty (30) day period, then either Party may bring an Action with respect to the matter in a court of competent jurisdiction in accordance with
Section 11(c) hereof. 

  

	 	(c)	Subject to Section 11(b) hereof, each of the Parties agrees that any and all disputes hereunder shall be resolved only in the courts of the Commonwealth of Pennsylvania located in Lehigh County, Pennsylvania
or the federal courts sitting in the Eastern District of Pennsylvania. In that context, and without limiting the generality of the foregoing, each of the Parties hereto by this Agreement irrevocably and unconditionally (i) submits for itself
and its property in any Action relating to this Agreement, or for recognition and enforcement of any judgment in respect thereof, to the exclusive jurisdiction of such courts and (ii) consents that any such Action may and shall be brought in
such courts and waives any objection that it may now or hereafter have to the venue or jurisdiction of any such Action in any such court or that such Action was brought in an inconvenient court and agrees not to plead or claim the same.

  

  
 16 

	 	(d)	THE PARTIES HERETO AGREE THAT THEY HEREBY IRREVOCABLY WAIVE THE RIGHT TO TRIAL BY JURY IN ANY ACTION TO ENFORCE OR INTERPRET THE PROVISIONS OF THIS AGREEMENT. 

 

	12.	Parent Guarantee. Versum shall cause each Recipient to comply with the terms and conditions of this Agreement, including any additional terms agreed to by the Parties, as if such Recipient were a party to this
Agreement. If Air Products determines in its reasonable discretion that any Recipient has failed to perform such obligations in accordance with this Agreement, including without limitation the payment of any past due invoice, Versum shall perform
such obligations on such Recipient’s behalf. To the extent that Air Products asserts a claim against Versum pursuant to this Section 12, Versum agrees to cause any applicable Recipient, and Air Products agrees to cause any applicable
Provider or other member of the Air Products Group, to participate in such claim (including in the discovery process) to the extent reasonably necessary for responding to discovery requests or to the extent such Recipient is considered an
indispensable party. The loss or damages of any affected Provider or other Air Products Group member shall be considered the loss or damages of Air Products for the purpose of asserting a claim under this provision. 

 

	13.	Supply of Services. The Parties acknowledge and agree that this Agreement is an agreement for the supply of services and is not an agreement for the sale of goods and shall not be governed by Article 2 of the
Uniform Commercial Code or the United Nations International Convention for the Sale of Goods or any analogous legal requirement purporting to apply to the sale of goods. 

 

	14.	Miscellaneous. 

  

	 	(a)	This Agreement shall be binding upon and inure to the benefit of each Party hereto, its legal successors and permitted assigns, including, without limitation, successors by merger or consolidation; provided,
however, that neither Party shall have the right to assign this Agreement without the prior written consent of the other Party, provided however, without obtaining consent from the other Party, either Party may assign, in whole or in
part, any of its rights and/or obligations hereunder to any of its Affiliates or in connection with the sale or merger of such Party’s applicable business or assets by or into a third party acquirer, or in the case of Air Products, pursuant to
Section 3(h) hereof, provided, however, that such assignment shall not release the assigning Party from performance of any obligations under this Agreement. 

 

	 	(b)	 This Agreement, the Separation Agreement and the other ancillary agreements, and the exhibits, schedules and
annexes hereto and thereto, contain the entire agreement and understanding of the Parties with respect to the subject matter hereof and thereof and shall supersede all previous negotiations, commitments

  
 17 

	 	
and writings with respect to such subject matter. This Agreement may not be amended, modified or supplemented, and none of its provisions may be waived, except by an agreement in writing signed
by each of Air Products and Versum. In the event of any conflict between the terms and conditions of the body of this Agreement and the terms and conditions of any Exhibit or Schedule hereto, the terms and conditions of such Exhibit or Schedule
shall control. 

  

	 	(c)	If any term, condition or provision of this Agreement shall be declared, to any extent, invalid or unenforceable, the remainder of the Agreement, other than the term, condition or provision held invalid or
unenforceable, shall not be affected thereby and shall be considered in full force and effect and shall be valid and be enforced to the fullest extent permitted by Law. 

 

	 	(d)	The headings set forth in this Agreement are used solely for convenience of reference and shall not control or affect the meaning or interpretation of any of the provisions. Whenever the words “include”,
“includes” or “including” are used in this Agreement, they shall be deemed to be followed by the words “without limitation.” 

  

	 	(e)	This Agreement may be executed in one or more counterparts, each of which will be deemed to be an original copy of this Agreement and all of which, when taken together, will be deemed to constitute one and the same
agreement. This Agreement may be executed and delivered by facsimile, PDF or other electronic transmission. 

  

	 	(f)	Each Party agrees to execute such agreements and other documents and to take such further actions as the other Party may reasonably request in order to carry out the provisions of this Agreement in accordance herewith.

  

	 	(g)	Air Products shall be excused from performing hereunder and shall not be liable for any interruption of Providers’ provision of the Transition Services or any delay or failure to perform under this Agreement, that
is attributable to acts or events beyond Air Products’ or Providers’ reasonable control related to: acts of God, acts of a nation, acts or war or terrorism, acts of a state or public enemy; fires; floods; earthquakes; storms; unusual
weather conditions; explosions; accidents; breakdowns of machinery or equipment; inability to obtain equipment, fuel or other materials; lack of transportation or distribution facilities; labor shortages, slowdowns, strikes, lockouts or other
similar disputes; riots or other civil disturbances; or voluntary or involuntary compliance with any Law, order, regulation, official recommendation or request of any governmental authority, or any other acts or events (whether similar or dissimilar
and whether or not foreseeable) that are beyond Air Products’ or Providers’ reasonable control (each individually, a “Force Majeure Event”, and collectively, “Force Majeure Events”). If a Force Majeure
Event occurs that has an effect on the ability of Air Products or a Provider to perform its obligations under this Agreement, then Air Products shall give prompt written notice to Versum identifying the nature of the Force Majeure Event and the
manner in which services will be affected, and Air Products and Versum shall reasonably cooperate and shall use their respective commercially reasonable efforts, as applicable, to remedy or abate the Force Majeure Event. 

  
 18 

	 	(h)	The Transition Services provided hereunder shall be rendered by Providers as independent contractors. Nothing in this Agreement shall be construed to create or constitute a partnership or joint venture between the
Parties, or any other relationship between the Parties not expressly provided for herein. Each Party agrees not to represent to others or take any action from which others could reasonably infer that either Party is a partner, joint venturer, agent,
or representative of, or otherwise associated with, the other party. 

  

	 	(i)	Without prejudice to the survival provisions of any other agreements of the Parties, the Parties agree that the provisions of Section 2(d), Section 3, Section 4,
Section 6, Section 8, Section 10, Section 11, Section 12, Section 13, Section 14 and Section 15 shall survive any termination or expiration of this
Agreement. 

  

	15.	Definitions. 

  

	 	(a)	“Action” shall mean any demand, charge, action, claim, suit, countersuit, arbitration, mediation, hearing, inquiry, audit, review, complaint, subpoena, case, litigation, proceeding or investigation
(whether civil, criminal, administrative, investigative or otherwise) by or before any court or grand jury, any Governmental Entity or any arbitration or mediation tribunal. 

 

	 	(b)	“Affiliates” shall mean, when used with respect to a specified Person and at a point in, or with respect to a period of, time, a Person that directly or indirectly, through one or more intermediaries,
controls, is controlled by, or is under common control with, such specified Person at such point in or during such period of time. For the purposes of this definition, “control” (including, with correlative meanings, the terms
“controlled by” and “under common control with”), when used with respect to any specified Person shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of
such Person, whether through the ownership of voting securities or other interests, as trustee, personal representative or executor, by Contract or otherwise. It is expressly agreed that no Party or member of its Group shall be deemed to be an
Affiliate of another Party or member of such other Party’s Group solely by reason of having one or more directors in common or by reason of having been under common control of Air Products or Air Products’ stockholders prior to or, in case
of Air Products’ stockholders, after, the Separation Time. 

  

	 	(c)	“Air Products Group” shall mean (i) Air Products, the Air Products Retained Business and each Person that is a direct or indirect Subsidiary of Air Products as of immediately following the
Distribution and (ii) each Business Entity that becomes a Subsidiary of Air Products after the Separation Time. 

  
 19 

	 	(d)	“Air Products Retained Business” shall mean (i) those businesses operated by the Air Products Group before the Separation Time other than the Versum Business, and (ii) those Business Entities
or businesses acquired or established by or for any member of the Air Products Group thereof after the Separation Time. 

  

	 	(e)	“Business Day” shall mean any day other than Saturday or Sunday and any other day on which commercial banking institutions located in New York, New York are required, or authorized by Law, to remain
closed. 

  

	 	(f)	“Business Entity” shall mean any corporation, partnership, limited liability company, joint venture or other entity which may legally hold title to Assets. 

 

	 	(g)	“Confidential Information” shall mean all non-public, confidential or proprietary Information to the extent concerning a Party, its Group and/or its Subsidiaries or with respect to Versum, the Versum
Business, any assets transferred to Versum pursuant to the Separation Agreement or any liabilities assumed by Versum pursuant to the Separation Agreement or with respect to Air Products, the Air Products Retained Business, any assets retained by Air
Products or any liabilities retained by Air Products, including any such Information that was acquired by any Party after the Separation Time pursuant to Article VII of the Separation Agreement or otherwise in accordance with this Agreement, or that
was provided to a Party by a third party in confidence, including (a) any and all technical information relating to the design, operation, testing, test results, development, and manufacture of any Party’s product (including product
specifications and documentation; engineering, design, and manufacturing drawings, diagrams, and illustrations; formulations and material specifications; laboratory studies and benchmark tests; quality assurance policies procedures and
specifications; evaluation and/validation studies; assembly code, software, firmware, programming data, databases, and all information referred to in the same); product costs, margins and pricing; as well as product marketing studies and strategies;
all other know-how, methodology, procedures, techniques and trade secrets related to research, engineering, development and manufacturing; (b) information, documents and materials relating to the Party’s financial condition, management and
other business conditions, prospects, plans, procedures, infrastructure, security, information technology procedures and systems, and other business or operational affairs; (c) pending unpublished patent applications and trade secrets; and
(d) any other data or documentation resident, existing or otherwise provided in a database or in a storage medium, permanent or temporary, intended for confidential, proprietary and/or privileged use by a Party; except for any Information that
is (i) in the public domain or known to the public through no fault of the receiving Party or its Subsidiaries, (ii) lawfully acquired after the Separation Time by such Party or its Subsidiaries from other sources not known to be subject
to confidentiality obligations with respect to such Information or (iii) independently developed by the receiving Party after the Separation Time without reference to any Confidential Information. As used herein, by example and without
limitation, Confidential Information shall mean any information of a Party intended or marked as confidential, proprietary and/or privileged. 

  
 20 

	 	(h)	“Contract” shall mean any agreement, contract, subcontract, obligation, binding understanding, note, indenture, instrument, option, lease, promise, arrangement, release, warranty, license, sublicense,
insurance policy, benefit plan, purchase order or legally binding commitment or undertaking of any nature (whether written or oral and whether express or implied). 

 

	 	(i)	“Distribution” shall mean the issuance to stockholders of Air Products of all of the issued and outstanding common stock of Versum. 

 

	 	(j)	“Distribution Date” shall mean the date on which the Distribution occurs. 

  

	 	(k)	“Governmental Entity” shall mean any nation or government, any state, province, municipality or other political subdivision thereof and any entity, body, agency, commission, department, board, bureau or
court, whether domestic, foreign, multinational, or supranational exercising executive, legislative, judicial, regulatory, self-regulatory or administrative functions of or pertaining to government and any executive official thereof.

  

	 	(l)	“Group” shall mean (i) with respect to Air Products, the Air Products Group and (ii) with respect to Versum, the Versum Group. 

 

	 	(m)	“Indemnifiable Losses” shall mean any and all damages, losses, deficiencies, Liabilities, obligations, penalties, awards, judgments, assessments, settlements, claims, payments, fines, interest, costs
and expenses (including the costs and expenses of any and all Actions and demands, assessments, judgments, settlements and compromises relating thereto and the reasonable costs and expenses of attorneys’, accountants’, consultants’
and other professionals’ fees and expenses incurred in the investigation or defense thereof or the enforcement of rights hereunder). 

  

	 	(n)	 “Information” shall mean information, content, and data in written, oral, electronic,
computerized, digital or other tangible or intangible media, including (i) books and records, whether accounting, legal or otherwise, ledgers, studies, reports, surveys, designs, specifications, drawings, blueprints, diagrams, models,
prototypes, samples, flow charts, marketing plans, customer names and information (including prospects), technical information relating to the design, operation, testing, test results, development, and manufacture of any Party’s product
(including product specifications and documentation; engineering, design, and manufacturing drawings, diagrams, and illustrations; formulations and material specifications; laboratory studies and benchmark tests; quality assurance policies
procedures and specifications; evaluation and validation studies; assembly code, software, firmware, programming data, databases, and all information referred to in the same); product costs, margins and pricing; as well as product marketing studies
and strategies; all other know-how, methodology, 

  
 21 

	 	
procedures, techniques and trade secrets related to research, engineering, development and manufacturing; communications, correspondence, materials, product literature, artwork, files, documents,
(ii) Patents and Know-How; and (iii) financial and business information, including earnings reports and forecasts, macro-economic reports and forecasts, all cost information (including supplier records and lists), sales and pricing data,
business plans, market evaluations, surveys and credit-related information. 

  

	 	(o)	“Intellectual Property” shall mean all U.S. and foreign: (i) trademarks, trade dress, service marks, certification marks, logos, slogans, design rights, names, corporate names, trade names,
internet domain names, social media accounts and addresses and other similar designations of source or origin, together with the goodwill symbolized by any of the foregoing (collectively, “Trademarks”); (ii) patents and patent
applications, and any and all related national or international counterparts thereto, including any divisionals, continuations, continuations-in-part, reissues, reexaminations, substitutions and extensions thereof (collectively,
“Patents”); (iii) copyrights and copyrightable subject matter, excluding Know-How (collectively, “Copyrights”); (iv) trade secrets, and all other confidential or proprietary information, know-how,
inventions, processes, formulae, models, and methodologies, excluding Patents (collectively, “Know-How”); (v) all applications and registrations for the foregoing; and (vi) all rights and remedies against past, present,
and future infringement, misappropriation, or other violation thereof. 

  

	 	(p)	“Law” shall mean any applicable U.S. or non-U.S. federal, national, supranational, state, provincial, local or similar statute, law, ordinance, regulation, rule, code, income tax treaty, order,
requirement or rule of law (including common law) or other binding directives promulgated, issued, entered into or taken by any Governmental Entity. 

  

	 	(q)	“Liabilities” shall mean any and all indebtedness, liabilities, costs, expenses, interest, commitments and obligations, whether accrued or unaccrued, fixed, absolute or contingent, matured or unmatured,
liquidated or unliquidated, known or unknown, reserved or unreserved, or determined or determinable, whenever or however arising, including those arising under any Law (including Environmental Laws (as defined in the Separation Agreement)), Action,
whether asserted or unasserted, or order, writ, judgment, injunction, decree, stipulation, determination or award entered by or with any Governmental Entity and those arising under any Contract or any fines, damages or equitable relief which may be
imposed and including all costs and expenses related thereto, and whether or not the same would be required by generally accepted principles and accounting policies to be reflected in financial statements or disclosed in the notes thereto.

  

	 	(r)	“Person” shall mean any natural person, firm, individual, corporation, business trust, joint venture, association, bank, land trust, trust company, company, limited liability company, partnership, or
other organization or entity, whether incorporated or unincorporated, or any Governmental Entity. 

  
 22 

	 	(s)	“Separation Time” shall mean 12:01 a.m., New York time, on the Distribution Date. 

  

	 	(t)	“Subsidiary” shall mean with respect to any Person (i) a corporation, fifty percent (50%) or more of the voting or capital stock of which is, as of the time in question, directly or indirectly
owned by such Person and (ii) any other Person in which such Person, directly or indirectly, owns fifty percent (50%) or more of the equity or economic interest thereof or has the power to elect or direct the election of fifty percent
(50%) or more of the members of the governing body of such entity. 

  

	 	(u)	“Versum Business” shall mean the business, operations and activities of the Electronic Materials division of Air Products conducted at any time prior to the Separation Time by Air Products or Versum or
any of their current or former subsidiaries or divisions, including the business of using applications technology to provide solutions to the semiconductor industry through chemical synthesis, analytical technology, process engineering, and surface
science of Air Products conducted by the Versum Business Units (as defined in the Separation Agreement) and those Business Entities and businesses acquired, as such business is described in the Versum Registration Statement (as defined in the
Separation Agreement), or established by or for Versum or any of its Subsidiaries after the Separation Time; provided that the Versum Business shall not include the xenon and rare gases business, nor that portion of the industrial gases
business formerly conducted within the Electronics division, each of which has been retained by Air Products. 

  

	 	(v)	“Versum Group” shall mean Versum and each Person that is a direct or indirect Subsidiary of Versum as of immediately prior to the Distribution (but after giving effect to the Internal Reorganization (as
defined in the Separation Agreement)), and each Person that becomes a Subsidiary of Versum after the Separation Time, and shall include the Versum Business Units (as defined in the Separation Agreement). 

[Signature Page Follows] 

  
 23 

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

			
	AIR PRODUCTS AND CHEMICALS, INC.
		
	By:	 	 /s/ M. Scott Crocco

		 	Name: M. Scott Crocco
		 	Title: Senior Vice President and Chief Financial         Officer
	
	VERSUM MATERIALS, INC.
		
	By:	 	 /s/ Guillermo Novo

		 	Name: Guillermo Novo
		 	Title: President and Chief Executive Officer

 [Signature Page to Transition Services Agreement]EX-10.2

 Exhibit 10.2 

EXECUTION VERSION 
 TAX MATTERS
AGREEMENT 
 by and between 

AIR PRODUCTS AND CHEMICALS, INC. 

and 
 VERSUM MATERIALS,
INC. 
 Dated as of September 29, 2016 
  

 TABLE OF CONTENTS 

 

							
	ARTICLE I	  
	
	DEFINITIONS	  
	Section 1.1	 	General	  	 	2	  
	
	ARTICLE II	  
	
	PAYMENTS AND TAX REFUNDS	  
	Section 2.1	 	General Rule	  	 	8	  
	Section 2.2	 	U.S. Federal Income Tax Relating to Joint Returns	  	 	8	  
	Section 2.3	 	U.S. Federal Income Tax Relating to Separate Returns	  	 	8	  
	Section 2.4	 	U.S. State Tax Relating to Joint Returns	  	 	9	  
	Section 2.5	 	U.S. State Tax Relating to Separate Returns	  	 	9	  
	Section 2.6	 	Non-U.S. Tax Relating to Joint Returns	  	 	9	  
	Section 2.7	 	Non-U.S. Tax Relating to Separate Returns	  	 	10	  
	Section 2.8	 	Non-Income Taxes	  	 	10	  
	Section 2.9	 	Separation Taxes	  	 	10	  
	Section 2.10	 	Determination of Tax Attributable to a Particular Entity	  	 	11	  
	Section 2.11	 	2.11 Allocation of Employment Taxes	  	 	11	  
	Section 2.12	 	Certain Transaction Taxes and Breaches of Covenants	  	 	11	  
	Section 2.13	 	Straddle Periods	  	 	12	  
	Section 2.14	 	Tax Refunds	  	 	12	  
	Section 2.15	 	Prior Agreements	  	 	12	  
	
	ARTICLE III	  
	
	PREPARATION AND FILING OF TAX RETURNS	  
	Section 3.1	 	Air Products’ Responsibility	  	 	12	  
	Section 3.2	 	Versum’s Responsibility	  	 	12	  
	Section 3.3	 	Right To Review Tax Returns	  	 	13	  
	Section 3.4	 	Cooperation	  	 	13	  
	Section 3.5	 	Tax Reporting Practices	  	 	13	  
	Section 3.6	 	Reporting of Transactions	  	 	13	  
	Section 3.7	 	Payment of Taxes	  	 	14	  
	Section 3.8	 	Amended Returns and Carrybacks	  	 	14	  
	Section 3.9	 	Tax Attributes	  	 	15	  
	
	ARTICLE IV	  
	
	TAX-FREE STATUS OF THE DISTRIBUTION	  
			
	Section 4.1	 	Representations and Warranties	  	 	15	  

  
 i 

							
	Section 4.2	 	Restrictions on Air Products	  	 	16	  
	Section 4.3	 	Restrictions on Versum	  	 	16	  
	
	ARTICLE V	  
	
	INDEMNITY OBLIGATIONS	  
			
	Section 5.1	 	Indemnity Obligations	  	 	18	  
	Section 5.2	 	Indemnification Payments	  	 	18	  
	Section 5.3	 	Payment Mechanics	  	 	19	  
	Section 5.4	 	Treatment of Payments	  	 	19	  
	
	ARTICLE VI	  
	
	TAX CONTESTS	  
			
	Section 6.1	 	Notice	  	 	19	  
	Section 6.2	 	Separate Returns	  	 	20	  
	Section 6.3	 	Joint Return	  	 	20	  
	Section 6.4	 	Obligation of Continued Notice	  	 	20	  
	Section 6.5	 	Settlement Rights	  	 	20	  
	
	ARTICLE VII	  
	
	COOPERATION	  
			
	Section 7.1	 	General	  	 	21	  
	Section 7.2	 	Consistent Treatment	  	 	21	  
	
	ARTICLE VIII	  
	
	RETENTION OF RECORDS; ACCESS	  
			
	Section 8.1	 	Retention of Records	  	 	22	  
	Section 8.2	 	Access to Tax Records	  	 	22	  
	
	ARTICLE IX	  
	
	DISPUTE RESOLUTION	  
	
	ARTICLE X	  
	
	MISCELLANEOUS PROVISIONS	  
			
	Section 10.1	 	Conflicting Agreements	  	 	23	  
	Section 10.2	 	Termination	  	 	23	  
	Section 10.3	 	Interest on Late Payments	  	 	23	  
	Section 10.4	 	Specific Performance	  	 	23	  

  
 ii 

					
	Section 10.5	 	Successors	  	24
	Section 10.6	 	Application to Present and Future Subsidiaries	  	24
	Section 10.7	 	Assignability	  	24
	Section 10.8	 	No Fiduciary Relationship	  	24
	Section 10.9	 	Further Assurances	  	24
	Section 10.10	 	Survival	  	24
	Section 10.11	 	Notices	  	24
	Section 10.12	 	Effective Date	  	25

  
 iii 

 TAX MATTERS AGREEMENT 

This TAX MATTERS AGREEMENT (this “Agreement”), is entered into as of September 29, 2016, between Air Products and
Chemicals, Inc. (“Air Products”), a Delaware corporation, and Versum Materials, Inc. (“Versum” and, together with Air Products, the “Parties”), a Delaware corporation and a wholly owned subsidiary
of Air Products. Capitalized terms used in this Agreement and not otherwise defined herein shall have the meanings ascribed to such terms in the Separation Agreement, dated as of the date hereof, between the Parties (the “Separation
Agreement”). 
 R E C I T A L S 

WHEREAS, the board of directors of Air Products (the “Board”) has determined that it is in the best interests of Air Products
and its stockholders to separate Air Products into two separate, publicly traded companies, one for each of (i) the Air Products Retained Business, which shall be owned and conducted, directly or indirectly, by Air Products and its Subsidiaries
and (ii) the Versum Business, which shall be owned and conducted, directly or indirectly, by Versum and its Subsidiaries; 
 WHEREAS,
in order to effect such separation, the Board has determined that it is appropriate, desirable and in the best interests of Air Products and its stockholders for Air Products to undertake the Internal Reorganization and, in connection therewith,
effect the Contribution to Versum which, in exchange therefor, Versum shall: (i) issue to Air Products shares of Versum Common Stock and Versum Securities and (ii) agree to pay Air Products the Versum Financing Cash Distribution; 

WHEREAS, following the completion of the Internal Reorganization and the Versum Financing Cash Distribution, Air Products shall cause the
Distribution Agent to issue pro rata to the Record Holders, all of the issued and outstanding shares of Versum Common Stock (such issuance, the “Distribution” and, together with the Internal Reorganization, the Debt-for-Debt
Exchange and the Contribution, the “Transactions”); 
 WHEREAS, Versum has been formed for these purposes and has not
engaged in activities except those incidental to its formation and in preparation for the Transactions; 
 WHEREAS, as of the date hereof,
Air Products is the common parent of an affiliated group of domestic corporations that has elected to file consolidated U.S. federal income Tax Returns and, as a result of the Distribution, neither Versum nor any of its Affiliates will be a member
of such group after the close of the Distribution Date; 
 WHEREAS, for U.S. federal income tax purposes, it is the intention of the Parties
that the Contribution and the Distribution, taken together, will qualify as a transaction that will qualify under Section 355 and Section 368(a)(1)(D) of the Internal Revenue Code of 1986, as amended (the “Code”); 

WHEREAS, the Parties will undertake the Debt-for-Debt Exchange, as described in the Separation Agreement; and 

 WHEREAS, the Parties desire to (a) provide for the payment of Tax liabilities and
entitlement to refunds thereof, allocate responsibility for, and cooperation in, the filing of Tax Returns, and provide for certain other matters relating to Taxes and (b) set forth certain covenants and indemnities relating to the preservation
of the Intended Tax Treatment of the Transactions. 
 NOW, THEREFORE, in consideration of the mutual agreements, provisions and covenants
contained in this Agreement, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties, intending to be legally bound, hereby agree as follows: 

ARTICLE I 

DEFINITIONS 

Section 1.1 General. As used in this Agreement, the following terms shall have the following meanings: 

“Accounting Firm” shall have the meaning set forth in Article IX. 

“Adjustment” shall mean an adjustment of any item of income, gain, loss, deduction, credit or any other item affecting Taxes
of a taxpayer pursuant to a Final Determination. 
 “Affiliate” shall mean, with respect to a Person, any other Person that
directly or indirectly, through one or more intermediaries, controls, is controlled by, or is under common control with, the specified Person. For this purpose, “control” of a Person means the possession, directly or indirectly, of the
power to direct or cause the direction of the management or policies of such Person, whether through ownership of voting securities, by contract or otherwise. 

“Agreement” shall have the meaning set forth in the preamble hereto. 

“Air Products” shall have the meaning set forth in the preamble hereto. 

“Air Products Group” shall have the meaning set forth in the Separation Agreement. 

“Air Products Retained Business” shall have the meaning set forth in the Separation Agreement. 

“Air Products Separate Return” shall mean any Tax Return of or including any member of the Air Products Group (including any
consolidated, combined or unitary return) that does not include any member of the Versum Group. 
 “Assume”, and the
correlative term “Assumption”, shall have the meaning set forth in the Separation Agreement. 
 “Board”
shall have the meaning set forth in the recitals. 
 “Business Day” shall have the meaning set forth in the Separation
Agreement. 

  
 2 

 “Controlling Party” shall mean, with respect to a Tax Contest, the Party
entitled to control such Tax Contest pursuant to Section 6.2 and Section 6.3 of this Agreement. 

“Conveyance and Assumption Instruments” shall have the meaning set forth in the Separation Agreement. 

“Code” shall have the meaning set forth in the recitals. 

“Contribution” shall mean the (i) Transfer, directly or indirectly, of all of the Versum Assets from Air Products to
Versum and (ii) the Assumption of the Versum Liabilities, directly or indirectly, by Versum, in each case, relating to, arising out of or resulting from the transactions contemplated by the Separation Agreement, together with the conversion of
Versum from a limited liability company to a Delaware corporation. 
 “Debt-for-Debt Exchange” shall have the meaning set
forth in the Separation Agreement. 
 “Distribution” shall have the meaning set forth in the recitals. 

“Distribution Agent” shall have the meaning set forth in the Separation Agreement. 

“Distribution Date” shall have the meaning set forth in the Separation Agreement. 

“Employee Matters Agreement” shall have the meaning set forth in the Separation Agreement. 

“Employment Tax” shall mean those Liabilities (as defined in the Separation Agreement) for Taxes which are allocable pursuant
to the provisions of the Employee Matters Agreement. 
 “Federal Income Tax” shall mean any Tax imposed by Subtitle A of
the Code other than an Employment Tax. 
 “Final Determination” shall mean the final resolution of liability for any Tax
for any taxable period, by or as a result of (a) a final decision, judgment, decree or other order by any court of competent jurisdiction that can no longer be appealed, (b) a final settlement with the IRS, a closing agreement or accepted
offer in compromise under Sections 7121 or 7122 of the Code, or a comparable agreement under the Laws of other jurisdictions, which resolves the entire Tax liability for any taxable period, (c) any allowance of a refund or credit in respect of
an overpayment of Tax, but only after the expiration of all periods during which such refund or credit may be recovered by the jurisdiction imposing the Tax, or (d) any other final resolution, including by reason of the expiration of the
applicable statute of limitations or the execution of a pre-filing agreement with the IRS or other Taxing Authority. 

“Group” shall mean either the Versum Group or the Air Products Group, as the context requires. 

“Income Tax” shall mean any Federal Income Tax and any state or local or Non-U.S. Tax determined by reference to income,
gains, net worth, gross receipts, or any Taxes imposed in lieu of such a Tax, including without limitation, the Korean excess retained earnings tax. 

  
 3 

 “Indemnifying Party” shall have the meaning set forth in
Section 5.2(a). 
 “Indemnitee” shall have the meaning set forth in Section 5.2(a). 

“Intended Tax Treatment” shall mean the qualification of the Transactions for the intended tax treatment, including as set
forth in any Tax Opinion or the Separation Plan. 
 “Internal Reorganization” shall have the meaning set forth in the
Separation Agreement. 
 “IRS” shall mean the United States Internal Revenue Service or any successor thereto, including,
but not limited to its agents, representatives, and attorneys. 
 “Joint Return” shall mean (i) any Tax Return that
actually includes, by election or otherwise, one or more members of the Air Products Group together with one or more members of the Versum Group or (ii) any Tax Return that includes Tax Items attributable to both the Air Products Retained
Business and the Versum Business. 
 “Law” shall have the meaning set forth in the Separation Agreement. 

“Non-Controlling Party” shall mean, with respect to a Tax Contest, the Party that is not entitled to control such Tax Contest
pursuant to Section 6.2 and Section 6.3 of this Agreement. 
 “Non-Income Tax” shall mean any Tax
that is not an Income Tax. 
 “Non-U.S. Tax” shall mean any Tax imposed by any foreign country or any possession of the
United States, or by any political subdivision of any foreign country or United States possession. 
 “Parties” shall have
the meaning set forth in the preamble hereto. 
 “Past Practices” shall have the meaning set forth in
Section 3.5. 
 “Person” shall have the meaning set forth in the Separation Agreement. 

“Post-Distribution Period” shall mean any taxable period (or portion thereof) beginning after the Distribution Date,
including for the avoidance of doubt, the portion of any Straddle Period beginning after the Distribution Date. 
 “Pre-Distribution
Period” shall mean any taxable period (or portion thereof) ending on or before the Distribution Date, including for the avoidance of doubt, the portion of any Straddle Period ending at the end of the day on the Distribution Date. 

“Preparing Party” shall mean, with respect to a Tax Return, the Party that is required to prepare and file any such Tax
Return pursuant to Section 3.1 or 3.2, as applicable. 
 “Proposed Acquisition Transaction” shall mean a
transaction or series of transactions (or any agreement, understanding or arrangement, within the meaning of Section 355(e) of the Code and Treasury Regulation Section 1.355-7, or any other Treasury Regulations promulgated thereunder, to
enter into a transaction or series of transactions), whether such transaction is 

  
 4 

 
supported by Versum management or shareholders, is a hostile acquisition, or otherwise, as a result of which Versum (or any successor thereto) would merge or consolidate with any other Person or
as a result of which one or more Persons would (directly or indirectly) acquire, or have the right to acquire, from Versum (or any successor thereto) and/or one or more holders of Versum Common Stock, respectively, any amount of stock of Versum,
that would, when combined with any other direct or indirect changes in ownership of the stock of Versum pertinent for purposes of Section 355(e) of the Code and the Treasury Regulations promulgated thereunder, comprise forty percent
(40%) or more of (i) the value of all outstanding shares of Versum as of the date of such transaction, or in the case of a series of transactions, the date of the last transaction of such series, or (ii) the total combined voting
power of all outstanding shares of voting stock of Versum as of the date of the such transaction, or in the case of a series of transactions, the date of the last transaction of such series. Notwithstanding the foregoing, a Proposed Acquisition
Transaction shall not include (i) the adoption by Versum of a shareholder rights plan or (ii) issuances by Versum that satisfy Safe Harbor VIII (relating to acquisitions in connection with a person’s performance of services) or Safe
Harbor IX (relating to acquisitions by a retirement plan of an employer) of Treasury Regulation Section 1.355-7(d). For purposes of determining whether a transaction constitutes an indirect acquisition, any recapitalization resulting in a shift
of voting power or any redemption of shares of stock shall be treated as an indirect acquisition of shares of stock by the non-exchanging shareholders. This definition and the application thereof is intended to monitor compliance with
Section 355(e) of the Code and the Treasury Regulations promulgated thereunder and shall be interpreted accordingly. Any clarification of, or change in, the statute or Treasury Regulations promulgated under Section 355(e) of the Code shall
be incorporated in this definition and its interpretation. 
 “Reasonable Basis” shall mean reasonable basis within the
meaning of Section 6662(d)(2)(B)(ii)(II) of the Code and the Treasury Regulations promulgated thereunder (or such other level of confidence required by the Code at that time to avoid the imposition of penalties). 

“Record Holders” shall have the meaning set forth in the Separation Agreement. 

“Refund” shall mean any refund, reimbursement, offset, credit, or other similar benefit in respect of Taxes (including any
overpayment of Taxes that can be refunded or, alternatively, applied against other Taxes payable), including any interest paid on or with respect to such refund of Taxes; provided, however, that the amount of any refund of Taxes shall
be net of any Taxes imposed by any Taxing Authority on, related to, or attributable to, the receipt of or accrual of such refund, including any Taxes imposed by way of withholding or offset. 

“Restricted Period” shall mean the period which begins with the Distribution Date and ends two (2) years thereafter.

 “Reviewing Party” shall mean, with respect to a Tax Return, the Party that is not the Preparing Party. 

“Separate Return” shall mean an Air Products Separate Return or an Versum Separate Return, as the case may be. 

  
 5 

 “Separation Agreement” shall have the meaning set forth in the preamble hereto.

 “Separation Plan” shall mean the Air Products Global Step Plan, dated September 26, 2016, attached hereto as
Exhibit A. 
 “Separation Taxes” shall mean those Taxes triggered by, or arising or otherwise incurred as a result of, the
Transactions, except for (i) any Tax resulting from a breach by any Party of any covenant in this Agreement, and (ii) any Tax attributable to any action set out in Section 4.2 or Section 4.3. 

“Straddle Period” shall mean any taxable year or other taxable period that begins on or before the Distribution Date and ends
after the Distribution Date. 
 “State Tax” means any Tax imposed by any state of the United States or by any political
subdivision of any such state, and any interest, penalties, additions to tax, or additional amounts in respect of the foregoing. 

“Subsidiary” shall have the meaning set forth in the Separation Agreement. 

“Tax” or “Taxes” shall mean (i) all taxes, charges, fees, duties, levies, imposts, rates or other
assessments or governmental charges of any kind imposed by any U.S. federal, state, local or non-U.S. Taxing Authority, including, without limitation, income, gross receipts, employment, excise, severance, stamp, occupation, premium, windfall
profits, environmental, custom duties, property, sales, use, license, capital stock, transfer, franchise, registration, payroll, withholding, social security, unemployment, disability, value added, alternative or add-on minimum or other taxes,
whether disputed or not, and including any interest, penalties, charges or additions attributable thereto, (ii) liability for the payment of any amount of the type described in clause (i) above arising as a result of being (or having been)
a member of any group or being (or having been) included or required to be included in any Tax Return related thereto, and (iii) liability for the payment of any amount of the type described in clauses (i) or (ii) above as a result of
any express or implied obligation to indemnify or otherwise assume or succeed to the liability of any other Person. 
 “Tax
Attribute” shall mean net operating losses, capital losses, investment tax credit carryovers, earnings and profits, foreign tax credit carryovers, overall foreign losses, previously taxed income, separate limitation losses and any other
losses, deductions, credits or other comparable items that could affect a Tax liability for a past or future taxable period. 
 “Tax
Certificates” shall mean any certificates of officers of Air Products and Versum, provided to Skadden, Arps, Slate, Meagher & Flom LLP, or any other law or accounting firm in connection with any Tax Opinion. 

“Tax Contest” shall have the meaning set forth in Section 6.1. 

“Tax Item” shall mean any item of income, gain, loss, deduction, or credit. 

“Tax Materials” shall have the meaning set forth in Section 4.1(a). 

  
 6 

 “Tax Matter” shall have the meaning set forth in Section 7.1. 

“Tax Opinion” shall mean any written opinion of Skadden, Arps, Slate, Meagher & Flom LLP or any other law or
accounting firm, regarding certain tax consequences of certain transactions executed as part of the Transactions. 
 “Tax
Records” shall have the meaning set forth in Section 8.1. 
 “Tax-Related Losses” shall mean
(i) all Taxes (including interest and penalties thereon) imposed pursuant to any settlement, Final Determination, judgment or otherwise, (ii) all accounting, legal and other professional fees, and court costs incurred in connection with
such Taxes, as well as any other out-of-pocket costs incurred in connection with such Taxes; and (iii) all costs, expenses and damages associated with stockholder litigation or controversies and any amount paid by Air Products (or any of its
Affiliates) or Versum (or any of its Affiliates) in respect of the liability of shareholders, whether paid to shareholders or to the IRS or any other Taxing Authority, in each case, resulting from the failure of any transaction to have the Intended
Tax Treatment. 
 “Tax Return” shall mean any return, report, certificate, form or similar statement or document (including
any related supporting information or schedule attached thereto and any information return, amended tax return, claim for refund or declaration of estimated tax) supplied to or filed with, or required to be supplied to or filed with, a Taxing
Authority, or any bill for or notice related to ad valorem or other similar Taxes received from a Taxing Authority, in each case, in connection with the determination, assessment or collection of any Tax or the administration of any laws,
regulations or administrative requirements relating to any Tax. 
 “Taxing Authority” shall mean any governmental authority
or any subdivision, agency, commission or entity thereof or any quasi-governmental or private body having jurisdiction over the assessment, determination, collection or imposition of any Tax (including the IRS). 

“Transactions” shall have the meaning set forth in the recitals. 

“Transfer” shall have the meaning set forth in the Separation Agreement. 

“Treasury Regulations” shall mean the regulations promulgated from time to time under the Code as in effect for the relevant
taxable period. 
 “Unqualified Tax Opinion” shall mean a “will” opinion, without substantive qualifications, of
a nationally recognized Law or accounting firm, to the effect that a transaction will not affect the Intended Tax Treatment of the Transactions. Any such opinion must assume that the Transactions would have qualified for the Intended Tax Treatment
if the transaction in question did not occur. 
 “Versum” shall have the meaning set forth in the preamble hereof. 

“Versum Assets” shall have the meaning set forth in the Separation Agreement. 

“Versum Business” shall have the meaning set forth in the Separation Agreement. 

  
 7 

 “Versum Common Stock” shall have the meaning set forth in the Separation
Agreement. 
 “Versum Financing Cash Distribution” shall have the meaning set forth in the Separation Agreement. 

“Versum Group” shall have the meaning set forth in the Separation Agreement. 

“Versum Liabilities” shall have the meaning set forth in the Separation Agreement. 

“Versum Securities” shall have the meaning set forth in the Separation Agreement. 

“Versum Separate Return” shall mean any Tax Return of or including any member of the Versum Group (including any
consolidated, combined or unitary return) that does not include any member of the Air Products Group. 
 ARTICLE II 

PAYMENTS AND TAX REFUNDS  

Section 2.1 General Rule. 

(a) Air Products Liability. Air Products shall be liable for, and shall indemnify and hold harmless the Versum Group from and against
any liability for, Taxes which are allocated to Air Products under this Article II. 
 (b) Versum Liability. Versum shall be
liable for, and shall indemnify and hold harmless the Air Products Group from and against any liability for, Taxes which are allocated to Versum under this Article II. 

Section 2.2 U.S. Federal Income Tax Relating to Joint Returns. 

(a) Versum shall pay and be responsible for any and all Federal Income Taxes due with respect to or required to be reported on any Joint Return
(including any increase in such Tax as a result of a Final Determination) which Taxes are attributable to the entities listed in Schedule 2.2(a) for all Pre-Distribution Periods. 

(b) Air Products shall pay and be responsible for any and all Federal Income Taxes due with respect to or required to be reported on any Joint
Return (including any increase in such Tax as a result of a Final Determination) other than those Federal Income Taxes described in Section 2.2(a) for all Pre-Distribution Periods. 

Section 2.3 U.S. Federal Income Tax Relating to Separate Returns. 

(a) Air Products shall pay and be responsible for any and all Federal Income Taxes due with respect to or required to be reported on any Air
Products Separate Return (including any increase in such Tax as a result of a Final Determination) for all taxable periods. 

  
 8 

 (b) Versum shall pay and be responsible for any and all Federal Income Taxes due with respect to
or required to be reported on any Versum Separate Return (including any increase in such Tax as a result of a Final Determination) for all taxable periods. 

Section 2.4 U.S. State Tax Relating to Joint Returns. 

(a) Versum shall pay and be responsible for any and all State Taxes due with respect to or required to be reported on any Joint Return
(including any increase in such Tax as a result of a Final Determination) which Taxes are attributable to the entities listed in Schedule 2.4(a) for all Pre-Distribution Periods. 

(b) Air Products shall pay and be responsible for any and all State Taxes due with respect to or required to be reported on any Joint Return
(including any increase in such Tax as a result of a Final Determination) other than those State Taxes described in Section 2.4(a) for all Pre-Distribution Periods. 

(c) Versum shall pay and be responsible for any and all State Taxes due with respect to or required to be reported on any Joint Return
(including any increase in such Tax as a result of a Final Determination) which Taxes are attributable to the entities listed in Schedule 2.4(c) for all Post-Distribution Periods. 

(d) Air Products shall pay and be responsible for any and all State Taxes due with respect to or required to be reported on any Joint Return
(including any increase in such Tax as a result of a Final Determination) other than those State Taxes described in Section 2.4(c) for all Post-Distribution Periods. 

Section 2.5 U.S. State Tax Relating to Separate Returns. 

(a) Air Products shall pay and be responsible for any and all State Taxes due with respect to or required to be reported on any Air Products
Separate Return (including any increase in such Tax as a result of a Final Determination) for all taxable periods. 
 (b) Versum shall pay
and be responsible for any and all State Taxes due with respect to or required to be reported on any Versum Separate Return (including any increase in such Tax as a result of a Final Determination) for all taxable periods. 

Section 2.6 Non-U.S. Tax Relating to Joint Returns. 

(a) Versum shall pay and be responsible for any and all Non-U.S. Taxes due with respect to or required to be reported on any Joint Return
(including any increase in such Tax as a result of a Final Determination) which Taxes are attributable to the entities listed in Schedule 2.6(a) for all Pre-Distribution Periods. 

(b) Air Products shall pay and be responsible for any and all Non-U.S. Taxes due with respect to or required to be reported on any Joint Return
(including any increase in such Tax as a result of a Final Determination) other than those Non-U.S. Taxes described in Section 2.6(a) for all Pre-Distribution Periods. 

  
 9 

 (c) Versum shall pay and be responsible for any and all Non-U.S. Taxes due with respect to or
required to be reported on any Joint Return (including any increase in such Tax as a result of a Final Determination) which Taxes are attributable to the entities listed in Schedule 2.6(c) for all Post-Distribution Periods. 

(d) Air Products shall pay and be responsible for any and all Non-U.S. Taxes due with respect to or required to be reported on any Joint Return
(including any increase in such Tax as a result of a Final Determination) other than those Non-U.S. Taxes described in Section 2.6(c) for all Post-Distribution Periods. 

Section 2.7 Non-U.S. Tax Relating to Separate Returns. 

(a) Air Products shall pay and be responsible for any and all Non-U.S. Taxes due with respect to or required to be reported on any Air Products
Separate Return (including any increase in such Tax as a result of a Final Determination) for all taxable periods. 
 (b) Versum shall pay
and be responsible for any and all Non-U.S. Taxes due with respect to or required to be reported on any Versum Separate Return (including any increase in such Tax as a result of a Final Determination) for all taxable periods. 

Section 2.8 Non-Income Taxes. 

To the extent not otherwise allocated under this Article II, Non-Income Taxes shall be allocated as follows: 

(a) Versum shall pay and be responsible for any and all Non-Income Taxes that are attributable to the entities listed in Schedule 2.8(a)
for all Pre-Distribution Periods. 
 (b) Air Products shall pay and be responsible for any and all Non-Income Taxes other than those
Non-Income Taxes described in Section 2.8(a) for all Pre-Distribution Periods. 
 (c) Versum shall pay and be responsible for any
and all Non-Income Taxes that are imposed on the Versum Group for all Post-Distribution Periods. 
 (d) Air Products shall pay and be
responsible for any and all Non-Income Taxes that are imposed on the Air Products Group for all Post-Distribution Periods. 
 Section 2.9
Separation Taxes. 
 Notwithstanding anything in Article II to the contrary: 

(a) Versum shall pay and be responsible for any and all Separation Taxes that are listed in Schedule 2.9(a), identified by the
jurisdiction imposing such Tax, the step in the Separation Plan with respect to which such Tax is triggered, and a description of the nature of such Tax. 

  
 10 

 (b) Air Products shall pay and be responsible for any and all Separation Taxes other than those
Separation Taxes described in Section 2.9(a). 
 Section 2.10 Determination of Tax Attributable to a Particular Entity.

 (a) For purposes of this Article II, the amount of Taxes attributable to a particular entity shall be determined by Air Products in
a manner consistent with the past return filing practices of the Air Products Group with respect to the relevant Tax Return (including any past accounting methods, elections and conventions). Without limiting the generality of the foregoing, the
following principles shall apply for purposes of determining the amount of Tax attributable to a particular entity: 
 (i)
including only Tax Items of the relevant entity that were included in the relevant Tax Return (i.e., as though the relevant entity prepared such Tax Return on a stand-alone basis); 

(ii) except as provided in Section 2.10(a)(iv) hereof, using all elections, accounting methods and conventions used
on the relevant Tax Return for such period; 
 (iii) applying the highest statutory marginal corporate income Tax rate in
effect for such taxable period; 
 (iv) assuming that the relevant entity elects not to carry back any net operating losses.

 (b) In the event a Non-Income Tax is attributable or traceable to a specific asset, then such Tax shall be attributable to the entity that
owns the relevant asset. 
 Section 2.11 Allocation of Employment Taxes. Liability for Employment Taxes shall be determined pursuant
to the Employee Matters Agreement. 
 Section 2.12 Certain Transaction Taxes and Breaches of Covenants. 

Notwithstanding anything in Article II to the contrary: 

(a) Versum shall be responsible for (i) any and all Tax-Related Losses for which Versum is responsible pursuant to
Section 5.1(b) of this Agreement and (ii) all Tax-Related Losses arising out of, based upon, or relating or attributable to any breach of or inaccuracy in, or failure to perform, as applicable, any representation, covenant, or
obligation of any member of the Versum Group pursuant to this Agreement. 
 (b) Air Products shall be responsible for (i) any and all
Tax-Related Losses for which Air Products is responsible pursuant to Section 5.1(a) of this Agreement and (ii) all Tax-Related Losses arising out of, based upon, or relating or attributable to any breach of or inaccuracy in, or
failure to perform, as applicable, any representation, covenant, or obligation of any member of the Air Products Group pursuant to this Agreement. 

  
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 Section 2.13 Straddle Periods. If the taxable year or other taxable period of Air
Products, Versum or any of their respective Subsidiaries, does not close on the Distribution Date, then the allocation of any Tax Items attributable to the portion of the Straddle Period ending on, or beginning after, the Distribution Date shall be
deemed equal to the amount that would have been so attributable if such taxable year had closed on the Distribution Date; provided that (i) exemptions, allowances, or deductions that are calculated on an annual or periodic basis, and
(ii) property Taxes or other non-Income Taxes that are calculated on an annual or periodic basis and not assessed with respect to a transaction or series of transactions, shall be allocated between such portions in proportion to the number of
days in each such portion. 
 Section 2.14 Tax Refunds. 

(a) Air Products shall be entitled to all Refunds for Taxes for which Air Products is responsible pursuant to this Article II, and
Versum shall be entitled to all Refunds for Taxes for which Versum is responsible pursuant to this Article II. 
 (b) A Party
receiving a Refund to which the other Party is entitled pursuant to this Agreement shall pay the amount to which such other Party is entitled within five (5) business days after the receipt of the Refund. For purposes of this
Section 2.14(b), any Refund that arises as a result of an offset, credit, or other similar benefit in respect of Taxes other than a receipt of cash shall be deemed to be received on the earlier of (i) the date on which a Tax Return
is filed claiming such offset, credit, or other similar benefit and (ii) the date on which payment of the Tax which would have otherwise been paid absent such offset, credit, or other similar benefit is due (determined without taking into
account any applicable extensions). 
 Section 2.15 Prior Agreements. Except as set forth in this Agreement and in consideration of
the mutual indemnities and other obligations of this Agreement, any and all prior Tax sharing or allocation agreements or practices between any member of the Air Products Group and any member of the Versum Group shall be terminated with respect to
the Versum Group and the Air Products Group as of the Distribution Date. No member of either the Versum Group or the Air Products Group shall have any continuing rights or obligations under any such agreement. 

ARTICLE III 

PREPARATION AND FILING OF TAX RETURNS 

Section 3.1 Air Products’ Responsibility. Air Products shall prepare and file when due (taking into account any applicable
extensions), or shall cause to be prepared and filed, all Joint Returns (other than Joint Returns required to be filed by Versum), all Air Products Separate Returns and the Tax Returns set forth on Schedule 3.1. All Joint Returns required to
be filed by Versum shall be prepared by Air Products and delivered to Versum to be filed when due (taking into account any applicable extensions). 

Section 3.2 Versum’s Responsibility. Except as otherwise provided in the foregoing Section 3.1, Versum shall prepare
and file when due (taking into account any applicable extensions), or shall cause to be prepared and filed, all Tax Returns required to be filed by or with respect to members of the Versum Group. The Tax Returns required to be prepared and filed by
Versum under this Section 3.2 shall include any Versum Separate Returns. 

  
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 Section 3.3 Right To Review Tax Returns. To the extent that the positions taken on any Tax
Return (i) directly relate to matters for which the Reviewing Party may have an indemnification obligation to the Preparing Party, or that may give rise to a refund to which the Reviewing Party would be entitled under this Agreement or
(ii) would reasonably be expected to materially adversely affect the Tax position of the Reviewing Party, the Preparing Party shall prepare the portions of such Tax Return that relates to the business of the Reviewing Party (the Air Products
Retained Business or the Versum Business, as the case may be), shall provide a draft of such portion of such Tax Return to the Reviewing Party for its review and comment at least fifteen (15) days prior to the due date for such Tax Return, and
shall use commercially reasonable efforts to modify such portion of such Tax Return before filing to include the Reviewing Party’s reasonable comments; provided, however, that nothing herein shall prevent the Preparing Party from timely filing
any such Tax Return. The Parties shall attempt in good faith to resolve any issues arising out of the review of any such portion of a Tax Return. 

Section 3.4 Cooperation. The Parties shall provide, and shall cause their Affiliates to provide, assistance and cooperation to one
another in accordance with Article VII with respect to the preparation and filing of Tax Returns, including providing information required to be provided in Article VIII. 

Section 3.5 Tax Reporting Practices. Except as provided in the following Section 3.6, with respect to any Tax Return for
any taxable period that begins on or before the second anniversary of the Distribution Date with respect to which Versum is the Preparing Party, such Tax Return shall be prepared in a manner (i) consistent with past practices, accounting
methods, elections and conventions (“Past Practices”) used by Air Products in preparing similar Tax Returns (unless there is no Reasonable Basis for the use of such Past Practices), and to the extent any items are not covered by
Past Practices (or in the event that there is no Reasonable Basis for the use of such Past Practices), in accordance with reasonable Tax accounting practices selected by Versum; and (ii) that, to the extent consistent with the foregoing clause
(i), minimizes the overall amount of Taxes due and payable on such Tax Return for all of the Parties by cooperating in making such elections or applications for group or other relief or allowances available in the taxing jurisdiction in which such
Tax Return is filed. Versum shall not take any action inconsistent with the assumptions (including items of income, gain, deduction, loss and credit) made in determining all estimated or advance payments of Taxes on or prior to the Distribution
Date. In addition, Versum shall not be permitted, and shall not permit any member of the Versum Group, to make a change in any of its methods of accounting for tax purposes until all applicable statutes of limitations for all Pre-Distribution
Periods and Straddle Periods have expired. 
 Section 3.6 Reporting of Transactions. Air Products and Versum shall timely file any
appropriate information and statements (including as required by Section 6045B of the Code and Section 1.355-5 and, to the extent applicable, Section 1.368-3 of the Treasury Regulations) to report each step of the Transactions in
accordance with the Intended Tax Treatment. The Tax treatment of any step in or portion of the Transactions shall be reported on each applicable Tax Return consistently with the treatment thereof in any Tax Opinion, taking into account the 

  
 13 

 
jurisdiction in which such Tax Returns are filed, unless there is no Reasonable Basis for such Tax treatment. In the event that a Party shall determine that there is no Reasonable Basis for such
Tax treatment, such Party shall notify the other Party no later than twenty (20) Business Days prior to filing the relevant Tax Return and the Parties shall attempt in good faith to agree on the manner in which the relevant portion of the
Transactions shall be reported. If Air Products determines, in its sole and absolute discretion, that a protective election under Section 336(e) of the Code shall be made with respect to the Transactions, Versum agrees to take any such action
that is necessary to effect such election, including any corresponding election with respect to any of its Subsidiaries, as determined by Air Products. 

Section 3.7 Payment of Taxes. 

(a) With respect to any Tax Return required to be filed pursuant to this Agreement, the Preparing Party shall remit or cause to be remitted to
the applicable Taxing Authority in a timely manner any Taxes due in respect of any such Tax Return. The obligation to make payments pursuant to this Section 3.7(a) shall not affect a Party’s right, if any, to receive payments under
Article V or otherwise be indemnified with respect to that Tax liability. 
 (b) The Preparing Party shall, no later than 5 business
days before the due date (including extensions) of any Tax Return described in Section 3.1 or 3.2, notify the other Party of any amount (or any portion of any such amount) shown as due on that Tax Return for which the other Party
must indemnify the Preparing Party under this Agreement. The other Party shall pay such amount to the Preparing Party no later than the due date (including extensions) of the relevant Tax Return. A failure by an Indemnitee to give notice as provided
in this Section 3.7(b) shall not relieve the Indemnifying Party’s indemnification obligations under this Agreement, except to the extent that the Indemnifying Party shall have been actually prejudiced by such failure. 

Section 3.8 Amended Returns and Carrybacks. 

(a) Versum shall not, and shall not permit any member of the Versum Group to, file or allow to be filed any request for an Adjustment for any
Pre-Distribution Period or Straddle Period without the prior written consent of Air Products, such consent to be exercised in Air Products’ sole and absolute discretion. 

(b) Versum shall, and shall cause each member of the Versum Group to, make any available elections to waive the right to carry back any Tax
Attribute from a taxable period or portion thereof ending after the Distribution Date to a taxable period or portion thereof ending on or before the Distribution Date. 

(c) Versum shall not, and shall cause each member of the Versum Group not to, make any affirmative election to carry back any Tax Attribute
from a taxable period or portion thereof ending after the Distribution Date to a taxable period or portion thereof ending on or before the Distribution Date, without the prior written consent of Air Products, such consent to be exercised in Air
Products’ sole and absolute discretion. 

  
 14 

 (d) Receipt of consent by Versum or a member of the Versum Group from Air Products pursuant to
the provisions of this Section 3.8 shall not limit or modify Versum’s continuing indemnification obligation pursuant to Article V. 

Section 3.9 Tax Attributes. 

(a) Versum shall make its own determination as to the existence and the amount of the Tax Attributes to which it is entitled after the
Distribution Date; provided, however, that such determination shall be made in a manner that is (i) consistent with Past Practices; (ii) in accordance with the rules prescribed by applicable Law, including the Code and the
Treasury Regulations; (iii) consistent with the Tax Certificates and the Intended Tax Treatment; and (iv) reasonably determined by Versum to minimize the aggregate cash Tax liability of the Parties for all Pre-Distribution Periods and the
portion of all Straddle Periods ending on the Distribution Date. 
 (b) Upon the reasonable request of Versum, Air Products shall provide
Versum with any reasonably available Tax Records relating to the determination of Tax Attributes if and only to the extent such Tax Records exist on the Distribution Date. Nothing in this Agreement, including this Section 3.9(b), shall
require Air Products to make any determinations or otherwise create any Tax Records with respect to Tax Attributes or the determination thereof. 

ARTICLE IV 
 TAX-FREE
STATUS OF THE DISTRIBUTION  
 Section 4.1 Representations and Warranties. 

(a) Air Products, on behalf of itself and all other members of the Air Products Group, hereby represents and warrants that (i) it has
examined the Tax Opinions, the Separation Plan, the Tax Certificates and any other materials delivered or deliverable in connection with the rendering of the Tax Opinions and the creation of the Separation Plan (collectively, the “Tax
Materials”) and (ii) the facts presented and representations made therein, to the extent descriptive of or otherwise relating to Air Products or any member of the Air Products Group or the Air Products Retained Business, were, at the
time presented or represented and from such time until and including the Distribution Date, true, correct, and complete in all material respects. Air Products, on behalf of itself and all other members of the Air Products Group, hereby confirms and
agrees to comply with any and all covenants and agreements in the Tax Materials applicable to Air Products or any member of the Air Products Group or the Air Products Retained Business. 

(b) Versum, on behalf of itself and all other members of the Versum Group, hereby represents and warrants that (i) it has examined the Tax
Materials and (ii) the facts presented and representations made therein, to the extent descriptive of or otherwise relating to Versum or any member of the Versum Group or the Versum Business, were, at the time presented or represented and from
such time until and including the Distribution Date, true, correct, and complete in all material respects. Versum, on behalf of itself and all other members of the Versum Group, hereby confirms and agrees to comply with any and all covenants and
agreements in the Tax Materials applicable to Versum or any member of the Versum Group or the Versum Business. 

  
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 (c) Each of Air Products, on behalf of it itself and all other members of the Air Products Group,
and Versum, on behalf of itself and all other members of the Versum Group represents and warrants that it knows of no fact (after due inquiry) that may cause the Transactions not to qualify for the Intended Tax Treatment. 

(d) Each of Air Products, on behalf of it itself and all other members of the Air Products Group, and Versum, on behalf of itself and all other
members of the Versum Group represents and warrants that it has no plan or intent to take any action which is inconsistent with any statements or representations made in the Tax Materials. 

Section 4.2 Restrictions on Air Products. 

(a) Air Products, on behalf of itself and all other members of the Air Products Group, hereby covenants and agrees that no member of the Air
Products Group will take, fail to take, or to permit to be taken: (i) any action where such action or failure to act would be inconsistent with or cause to be untrue any statement, information, covenant or representation in the Tax Opinions or
the Tax Certificates, or (ii) any action which adversely affects or could reasonably be expected to adversely affect the Intended Tax Treatment of the Transactions. 

Section 4.3 Restrictions on Versum. 

(a) Versum, on behalf of itself and all other members of the Versum Group, hereby covenants and agrees that no member of the Versum Group will
take, fail to take, or to permit to be taken: (i) any action where such action or failure to act would be inconsistent with or cause to be untrue any statement, information, covenant or representation in the Tax Opinions or the Tax
Certificates, or (ii) any action which adversely affects or could reasonably be expected to adversely affect the Intended Tax Treatment of the Transactions. 

(b) Versum shall not, directly or indirectly, (i) pre-pay, pay down, redeem, retire or otherwise acquire, however effected including
pursuant to the terms thereof, any of the Versum Securities prior to their stated maturity or permit any member of the Versum Group to take any such action, or (ii) take or permit to be taken any action at any time, including, without
limitation, any modification to the terms of the Versum Securities that could jeopardize, directly or indirectly, the qualification, in whole or part, of any of the Versum Securities as “securities” within the meaning of
Section 361(a) of the Code (or permit any member of the Versum Group to take or permit to be taken any such action). 
 (c) During the
Restricted Period, Versum: 
 (i) shall continue and cause to be continued the active conduct of the Versum Business for
purposes of Section 355(b)(2) of the Code, taking into account Section 355(b)(3) of the Code, as conducted immediately prior to the Distribution, 

(ii) shall not voluntarily dissolve or liquidate itself or any of its Affiliates (including any action that is a liquidation
for U.S. federal income tax purposes), 

  
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 (iii) shall not (and shall not cause or permit any of its Affiliates to)
(1) enter into any Proposed Acquisition Transaction or, to the extent Versum has the right to prohibit any Proposed Acquisition Transaction, permit any Proposed Acquisition Transaction to occur, (2) redeem or otherwise repurchase (directly
or through an Affiliate) any Versum stock, or rights to acquire Versum stock, other than through stock purchases meeting the requirements of section 4.05(1)(b) of Revenue Procedure 96-30, 1996-1 C.B. 696, (3) amend its certificate of
incorporation (or other organizational documents), or take any other action, whether through a stockholder vote or otherwise, affecting the relative voting rights of its capital stock (including through the conversion of any capital stock into
another class of capital stock), (4) merge or consolidate with any other Person or (5) take any other action or actions (including any action or transaction that would be reasonably likely to be inconsistent with any representation made in
the Tax Certificates) which in the aggregate would, when combined with any other direct or indirect changes in ownership of Versum capital stock pertinent for purposes of Section 355(e) of the Code, have the effect of causing or permitting one
or more Persons (whether or not acting in concert) to acquire directly or indirectly stock representing a fifty-percent or greater interest in Versum or would reasonably be expected to result in a failure to preserve the Intended Tax Treatment of
the Transactions; and 
 (iv) shall not and shall not permit any member of the Versum Group, to sell, transfer, or otherwise
dispose of or agree to, sell, transfer or otherwise dispose (including in any transaction treated for federal income tax purposes as a sale, transfer or disposition) of assets (including, any shares of capital stock of a Subsidiary) that, in the
aggregate, constitute more than 20% of the consolidated gross assets of Versum or the Versum Group. The foregoing sentence shall not apply to (1) sales, transfers, or dispositions of assets in the ordinary course of business, (2) any cash
paid to acquire assets from an unrelated Person in an arm’s-length transaction, (3) any assets transferred to a Person that is disregarded as an entity separate from the transferor for federal income tax purposes or (4) any mandatory
or optional repayment (or pre-payment) of any indebtedness of Versum or any member of the Versum Group. The percentages of gross assets or consolidated gross assets of Versum or the Versum Group, as the case may be, sold, transferred, or otherwise
disposed of, shall be based on the fair market value of the gross assets of Versum and the members of the Versum Group as of the Distribution Date. For purposes of this Section 4.3(c)(iv), a merger of Versum or one of its Subsidiaries
with and into any Person that is not a wholly owned Subsidiary of Versum shall constitute a disposition of all of the assets of Versum or such Subsidiary. 

(d) Notwithstanding the restrictions imposed by the foregoing Sections 4.3(a), (b) and (c), Versum or a member of the
Versum Group may take any of the actions or transactions described therein if Versum either (i) obtains an Unqualified Tax Opinion in form and substance reasonably satisfactory to Air Products or (ii) obtains the prior written consent of
Air Products waiving the requirement that Versum obtain an Unqualified Tax Opinion, such waiver to be provided in Air Products’ sole and absolute discretion. Air Products’ evaluation of an Unqualified Tax Opinion may consider, among other
factors, the appropriateness of any underlying assumptions, representations, and covenants made in connection with such opinion. Versum shall bear all costs and expenses of securing any such Unqualified Tax Opinion and shall reimburse Air Products
for all reasonable out-of-pocket expenses that Air Products or any 

  
 17 

 
of its Affiliates may incur in good faith in seeking to obtain or evaluate any such Unqualified Tax Opinion. Neither the delivery of an Unqualified Tax Opinion nor Air Products’ waiver of
Versum’s obligation to deliver an Unqualified Tax Opinion shall limit or modify Versum’s continuing indemnification obligation pursuant to Article V. 

ARTICLE V 
 INDEMNITY
OBLIGATIONS  
 Section 5.1 Indemnity Obligations. 

(a) Air Products shall indemnify and hold harmless Versum from and against, and will reimburse Versum for, (i) all liability for Taxes
allocated to Air Products pursuant to Article II, (ii) all Tax-Related Losses arising out of, based upon, or relating or attributable to any breach of or inaccuracy in, or failure to perform, as applicable, any representation, covenant,
or obligation of any member of the Air Products Group pursuant to this Agreement, and (iii) any other Tax-Related Loss resulting (for the absence of doubt, in whole or in part) from an acquisition after the Distribution of any stock or assets
of Air Products (or any Air Products Affiliate) by any means whatsoever by any Person. 
 (b) Without regard to whether an Unqualified Tax
Opinion may have been provided or whether any action is permitted or consented to hereunder and notwithstanding anything else to the contrary contained herein, Versum shall indemnify and hold harmless Air Products from and against, and will
reimburse Air Products for, (i) all liability for Taxes allocated to Versum pursuant to Article II, (ii) all Tax-Related Losses arising out of, based upon, or relating or attributable to any breach of or inaccuracy in, or failure to
perform, as applicable, any representation, covenant, or obligation of any member of the Versum Group pursuant to this Agreement, (iii) any other Tax-Related Loss resulting (for the absence of doubt, in whole or in part) from an acquisition
after the Distribution of any stock or assets of Versum (or any Versum Affiliate) by any means whatsoever by any Person and (iv) the amount of any Refund received by any member of the Versum Group that is allocated to Air Products pursuant to
Section 2.14(a). 
 (c) To the extent that any Tax-Related Loss is subject to indemnity pursuant to both
Section 5.1(a) and Section 5.1(b), responsibility for such Tax-Related Loss shall be shared by Air Products and Versum according to relative fault. 

Section 5.2 Indemnification Payments. 

(a) Except as otherwise provided in this Agreement, if either Party (the “Indemnitee”) is required to pay to a Taxing
Authority a Tax or to another Person a payment in respect of a Tax that the other Party (the “Indemnifying Party”) is liable for under this Agreement, including as the result of a Final Determination, the Indemnitee shall notify the
Indemnifying Party, in writing, of its obligation to pay such Tax and, in reasonably sufficient detail, its calculation of the amount due by such Indemnifying Party to the Indemnitee, including any other Tax-Related Losses attributable thereto. The
Indemnifying Party shall pay such amount, including any other Tax-Related Losses attributable thereto, to the Indemnitee no later than the later of (i) five (5) Business Days prior to the date on which such payment is due to the applicable
Taxing Authority or (ii) fifteen (15) Business Days after the receipt of notice from the other Party. 
  

  
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 (b) If, as a result of any change or redetermination made with respect to Article II, any
amount previously allocated to and borne by one Party pursuant to the provisions of Article II is thereafter allocated to the other Party, then, no later than five (5) Business Days after such change or redetermination, such other Party
shall pay to such Party the amount previously borne by such Party which is allocated to such other Party as a result of such change or redetermination. 

Section 5.3 Payment Mechanics. 

(a) Subject to Section 10.7, all payments under this Agreement shall be made by Air Products directly to Versum and by Versum
directly to Air Products; provided, however, that if the Parties mutually agree with respect to any such indemnification payment, any member of the Air Products Group, on the one hand, may make such indemnification payment to any
member of the Versum Group, on the other hand, and vice versa. All indemnification payments shall be treated in the manner described in Section 5.4. 

(b) In the case of any payment of Taxes made by a Preparing Party or Indemnitee pursuant to this Agreement for which such Preparing Party or
Indemnitee, as the case may be, has received a payment from the other Party, such Preparing Party or Indemnitee shall provide to the other Party a copy of any official government receipt received with respect to the payment of such Taxes to the
applicable Taxing Authority (or, if no such official governmental receipts are available, executed bank payment forms or other reasonable evidence of payment). 

Section 5.4 Treatment of Payments. The Parties agree that any payment made among the Parties pursuant to this Agreement shall be
treated, to the extent permitted by law, for all United States federal income Tax purposes as either (i) a non-taxable contribution by Air Products to Versum, or (ii) a distribution by Versum to Air Products, in each case, made immediately
prior to the Distribution. Any Tax indemnity payment made by a Party under this Agreement shall be increased as necessary so that after making all payments in respect to Taxes imposed on or attributable to such indemnity payment, the recipient Party
receives an amount equal to the sum it would have received had no such Taxes been imposed. 
 ARTICLE VI 

TAX CONTESTS  

Section 6.1 Notice. Each Party shall notify the other Party in writing within ten (10) days after receipt by such Party or any
member of its Group of a written communication from any Taxing Authority with respect to any pending or threatened audit, claim, dispute, suit, action, proposed assessment or other proceeding (a “Tax Contest”) concerning any Taxes for
which the other Party may be liable pursuant to this Agreement, and thereafter shall promptly forward or make available to such Party copies of notices and communications relating to such Tax Contest. A failure by an Indemnitee to give notice as
provided in this Section 6.1 (or to promptly forward any such notices or communications) shall not relieve the Indemnifying Party’s indemnification obligations under this Agreement, except to the extent that the Indemnifying Party
shall have been actually prejudiced by such failure. 

  
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 Section 6.2 Separate Returns. In the case of any Tax Contest with respect to any Separate
Return, the Party having the liability for the Tax pursuant to Article II hereof shall have the sole responsibility and right to control the prosecution of such Tax Contest, including the exclusive right to communicate with agents of the
applicable Taxing Authority and to control, resolve, settle, or agree to any deficiency, claim, or adjustment proposed, asserted, or assessed in connection with or as a result of such Tax Contest. 

Section 6.3 Joint Return. In the case of any Tax Contest with respect to any Joint Return, Air Products shall have the sole
responsibility and right to control the prosecution of such Tax Contest, including the exclusive right to communicate with agents of the applicable Taxing Authority and to control, resolve, settle, or agree to any deficiency, claim, or adjustment
proposed, asserted, or assessed in connection with or as a result of such Tax Contest. 
 Section 6.4 Obligation of Continued Notice.
During the pendency of any Tax Contest or threatened Tax Contest, each of the Parties shall provide prompt notice to the other Party of any written communication received by it or a member of its respective Group from a Taxing Authority regarding
any Tax Contest for which it is indemnified by the other Party hereunder or for which it may be required to indemnify the other Party hereunder. Such notice shall attach copies of the pertinent portion of any written communication from a Taxing
Authority and contain factual information (to the extent known) describing any asserted Tax liability in reasonable detail and shall be accompanied by copies of any notice and other documents received from any Taxing Authority in respect of any such
matters. Such notice shall be provided in a reasonably timely fashion; provided, however, that in the event that timely notice is not provided, a Party shall be relieved of its obligation to indemnify the other Party only to the extent that such
delay results in actual increased costs or actual prejudice to such other Party. 
 Section 6.5 Settlement Rights. Unless waived by
the Parties in writing, in connection with any potential adjustment in a Tax Contest as a result of which adjustment the Non-Controlling Party may reasonably be expected to become liable to make any indemnification payment to the Controlling Party
under this Agreement: (i) the Controlling Party shall keep the Non-Controlling Party informed in a timely manner of all actions taken or proposed to be taken by the Controlling Party with respect to such potential adjustment in such Tax
Contest; (ii) the Controlling Party shall timely provide the Non-Controlling Party with copies of any correspondence or filings submitted to any Taxing Authority or judicial authority in connection with such potential adjustment in such Tax
Contest; and (iii) the Controlling Party shall defend such Tax Contest diligently and in good faith. The failure of the Controlling Party to take any action specified in the preceding sentence with respect to the Non-Controlling Party shall not
relieve the Non-Controlling Party of any liability and/or obligation which it may have to the Controlling Party under this Agreement, and in no event shall such failure relieve the Non-Controlling Party from any other liability or obligation which
it may have to the Controlling Party. 

  
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 ARTICLE VII 

COOPERATION  

Section 7.1 General. 
 (a)
Each Party shall fully cooperate, and shall cause all members of such Party’s Group to fully cooperate, with all reasonable requests in writing from the other Party, or from an agent, representative or advisor to such Party, in connection with
the preparation and filing of any Tax Return, claims for Refunds, the conduct of any Tax Contest, and calculations of amounts required to be paid pursuant to this Agreement, in each case, related or attributable to or arising in connection with
Taxes of either Party or any member of either Party’s Group covered by this Agreement and the establishment of any reserve required in connection with any financial reporting (a “Tax Matter”). Such cooperation shall include the
provision of any information reasonably necessary or helpful in connection with a Tax Matter and shall include, without limitation, at each Party’s own cost: 

(i) the provision of any Tax Returns of either Party or any member of either Party’s Group, books, records (including
information regarding ownership and Tax basis of property), documentation and other information relating to such Tax Returns, including accompanying schedules, related work papers, and documents relating to rulings or other determinations by Taxing
Authorities; 
 (ii) the execution of any document (including any power of attorney) in connection with any Tax Contest of
either Party or any member of either Party’s Group, or the filing of a Tax Return or a Refund claim of either Party or any member of either Party’s Group; 

(iii) the use of the Party’s reasonable best efforts to obtain any documentation in connection with a Tax Matter; 

(iv) the use of the Party’s reasonable best efforts to obtain any Tax Returns (including accompanying schedules, related
work papers, and documents), documents, books, records or other information in connection with the filing of any Tax Returns of any of either Party or any member of either Party’s Group; and 

(v) the provision of all information necessary for Air Products to be able to calculate and claim Tax Attributes or the
benefits thereof, including research and development credits, for any Tax Return of Air Products or any member of the Air Products Group. 

Each Party shall make its employees and facilities available, without charge, on a mutually convenient basis to facilitate such cooperation.

 Section 7.2 Consistent Treatment. Unless and until there has been a Final Determination to the contrary, each Party agrees not to
take any position on any Tax Return, in connection with any Tax Contest or otherwise, that is inconsistent with (a) the treatment of payments between the Air Products Group and the Versum Group as set forth in Section 5.4, or
(b) the Intended Tax Treatment. 

  
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 ARTICLE VIII 

RETENTION OF RECORDS; ACCESS  

Section 8.1 Retention of Records. For so long as the contents thereof may become material in the administration of any matter under
applicable Tax law, but in any event until the later of (i) sixty (60) days after the expiration of any applicable statutes of limitation (including any waivers or extensions thereof) and (ii) seven years after the Distribution Date,
the Parties shall retain records, documents, accounting data and other information (including computer data) necessary for the preparation and filing of all Tax Returns (collectively, “Tax Records”) in respect of Taxes of any member
of either the Air Products Group or the Versum Group for any Pre-Distribution Period, Straddle Period, or Post-Distribution Period or for any Tax Contests relating to such Tax Returns. At any time after the Distribution Date that the Air Products
Group proposes to destroy such records or documents, it shall first notify the Versum Group in writing and the Versum Group shall be entitled to receive such records or documents proposed to be destroyed. At any time after the Distribution Date that
the Versum Group proposes to destroy such records or documents, it shall first notify the Air Products Group in writing and the Air Products Group shall be entitled to receive such records or documents proposed to be destroyed. The Parties will
notify each other in writing of any waivers or extensions of the applicable statute of limitations that may affect the period for which the foregoing records or other documents must be retained. 

Section 8.2 Access to Tax Records. The Parties and their respective Affiliates shall make available to each other for inspection and
copying during normal business hours upon reasonable notice all Tax Records (and, for the avoidance of doubt, any pertinent underlying data accessed or stored on any computer program or information technology system) in their possession and shall
permit the other Party and its Affiliates, authorized agents and representatives and any representative of a Taxing Authority or other Tax auditor direct access, during normal business hours upon reasonable notice, to any computer program or
information technology system used to access or store any Tax Records, in each case to the extent reasonably required by the other Party in connection with the preparation of Tax Returns or financial accounting statements, audits, litigation, or the
resolution of items pursuant to this Agreement. The Party seeking access to the records of the other Party shall bear all costs and expenses associated with such access, including any professional fees. 

ARTICLE IX 
 DISPUTE
RESOLUTION  
 In the event of any dispute between the Parties as to any matter covered by this Agreement, the Parties shall appoint
a nationally recognized independent public accounting firm (the “Accounting Firm”) to resolve such dispute. In this regard, the Accounting Firm shall make determinations with respect to the disputed items based solely on
representations made by Air Products and Versum and their respective representatives, and not by independent review, and 

  
 22 

 
shall function only as an expert and not as an arbitrator and shall be required to make a determination in favor of one Party only. The Parties shall require the Accounting Firm to resolve all
disputes no later than thirty (30) days after the submission of such dispute to the Accounting Firm, but in no event later than the due date for the payment of Taxes or the filing of the applicable Tax Return, if applicable, and agree that all
decisions by the Accounting Firm with respect thereto shall be final and conclusive and binding on the Parties. The Accounting Firm shall resolve all disputes in a manner consistent with this Agreement and, to the extent not inconsistent with this
Agreement, in a manner consistent with the Past Practices of Air Products and its Subsidiaries, except as otherwise required by applicable Law. The Parties shall require the Accounting Firm to render all determinations in writing and to set forth,
in reasonable detail, the basis for such determination. The fees and expenses of the Accounting Firm shall be borne equally by the Parties. 

ARTICLE X 

MISCELLANEOUS PROVISIONS  

Section 10.1 Conflicting Agreements. In the event and to the extent that there shall be a conflict between the provisions of this
Agreement and the provisions of the Separation Agreement, this Agreement shall control with respect to the subject matter thereof. In the event and to the extent that there shall be a conflict between the provisions of this Agreement and the
provisions of any of the Conveyance and Assumption Instruments, this Agreement shall control. 
 Section 10.2 Termination. This
Agreement will terminate without further action at any time before the Distribution upon termination of the Separation Agreement. If terminated, no Party will have any liability of any kind to the other Party or any other Person on account of this
Agreement, except as provided in the Separation Agreement. 
 Section 10.3 Interest on Late Payments. With respect to any payment
between the Parties pursuant to this Agreement not made by the due date set forth in this Agreement for such payment, the outstanding amount will accrue interest at a rate per annum equal to the rate in effect for underpayments under
Section 6621 of the Code from such due date to and including the payment date. 
 Section 10.4 Specific Performance. In the
event of any actual or threatened default in, or breach of, any of the terms, conditions and provisions of this Agreement, Air Products shall have the right to specific performance and injunctive or other equitable relief of its rights under this
Agreement, in addition to any and all other rights and remedies at law or in equity, and all such rights and remedies shall be cumulative. Versum shall not oppose the granting of such relief on the basis that money damages are an adequate remedy.
The Parties agree that the remedies at law for any breach or threatened breach hereof, including monetary damages, are inadequate compensation for any loss and that any defense in any action for specific performance that a remedy at law would be
adequate is waived. Any requirements for the securing or posting of any bond with such remedy are waived. The Parties acknowledge and agree that the right of specific enforcement is an integral part of this Agreement and without that right, neither
Air Products nor Versum would have entered into this Agreement. 

  
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 Section 10.5 Successors. This Agreement shall be binding on and inure to the benefit of
any successor by merger, acquisition of assets, or otherwise, to any of the parties hereto, to the same extent as if such successor had been an original party to this Agreement. 

Section 10.6 Application to Present and Future Subsidiaries. This Agreement is being entered into by Air Products and Versum on behalf
of themselves and the members of their respective Group. This Agreement shall constitute a direct obligation of each such Party and shall be deemed to have been readopted and affirmed on behalf of any entity that becomes a Subsidiary of Air Products
or Versum in the future. 
 Section 10.7 Assignability. This Agreement shall not be assignable, in whole or in part, directly or
indirectly, by any party hereto without the prior written consent of the other Party (not to be unreasonably withheld or delayed), and any attempt to assign any rights or obligations arising under this Agreement without such consent shall be void.
Notwithstanding the foregoing, this Agreement shall be assignable to (i) with respect to Air Products, an Affiliate of Air Products, or (ii) a bona fide third party in connection with a merger, reorganization, consolidation or the sale of
all or substantially all the assets of a Party hereto so long as the resulting, surviving or transferee entity assumes all the obligations of the relevant Party hereto by operation of law or pursuant to an agreement in form and substance reasonably
satisfactory to the other Party to this Agreement. No assignment permitted by this Section 10.7 shall release the assigning Party from liability for the full performance of its obligations under this Agreement. 

Section 10.8 No Fiduciary Relationship. The duties and obligations of the Parties, and their respective successors and permitted
assigns, contained herein are the extent of the duties and obligations contemplated by this Agreement; nothing in this Agreement is intended to create a fiduciary relationship between the Parties hereto, or any of their successors and permitted
assigns, or create any relationship or obligations other than those explicitly described. 
 Section 10.9 Further Assurances. Subject
to the provisions hereof, the Parties hereto shall make, execute, acknowledge and deliver such other instruments and documents, and take all such other actions, as may be reasonably required in order to effectuate the purposes of this Agreement and
to consummate the transactions contemplated hereby. 
 Section 10.10 Survival. Notwithstanding any other provision of this Agreement
to the contrary, all representations, covenants and obligations contained in this Agreement shall survive until the expiration of the applicable statute of limitations with respect to any such matter (including extensions thereof). 

Section 10.11 Notices. All notices, requests, claims, demands or other communications under this Agreement shall be in writing and
shall be given or made (and shall be deemed to have been duly given or made upon receipt) by delivery in person, by overnight courier service, by facsimile or electronic transmission with receipt confirmed (followed by delivery of an original via
overnight courier service) or by registered or certified mail (postage prepaid, return receipt requested) to the respective Parties at the following addresses (or at such other address for a Party as shall be specified in a notice given in
accordance with this Section 10.11): 

  
 24 

 If to Air Products, to: 

7201 Hamilton Boulevard 

Allentown, Pennsylvania 18195-1501 

Attn: General Counsel 

Facsimile: (610) 481-7009 

and to: 
 7201 Hamilton Boulevard

 Allentown, Pennsylvania 18195-1501 

Attn: Corporate Secretary 

Facsimile: (610) 481-7009 

with a copy to: 
 Skadden, Arps,
Slate, Meagher & Flom LLP 
 4 Times Square 

New York, NY 10036 
 Attn: David
M. Rievman 
 Attn: Steven J. Matays 

Facsimile: (917) 777-2372 

If to Versum, to: 
 7201 Hamilton
Boulevard 
 Allentown, Pennsylvania 18195-1501 

Attn: General Counsel 

Facsimile: (610) 481-8223 

with a copy to: 
 7201 Hamilton
Boulevard 
 Allentown, Pennsylvania 18195-1501 

Attn: Corporate Secretary 

Facsimile: (610) 481-8223 

Any Party may, by notice to the other Party, change the address to which such notices are to be given. 

Section 10.12 Effective Date. This Agreement shall become effective only upon the occurrence of the Distribution. 

* * * 
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THIS PAGE INTENTIONALLY LEFT BLANK] 

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

			
	AIR PRODUCTS AND CHEMICALS, INC.
		
	By:	 	 /s/ M. Scott Crocco

		 	Name: M. Scott Crocco
		 	Title: Senior Vice President and Chief Financial           Officer
	
	VERSUM MATERIALS, INC.
		
	By:	 	 /s/ Guillermo Novo

		 	Name: Guillermo Novo
		 	Title: President and Chief Executive Officer

 [Signature Page to Tax Matters Agreement]

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