Document:

Exhibit

Exhibit 10.3

CONSENT UNDER THE AUGUST 31, 2017 SEVERANCE AGREEMENT 
 This CONSENT UNDER THE AUGUST 31, 2017 SEVERANCE AGREEMENT (this “Consent”) is made and entered into as of the 29th day of March, 2019 with reference to the Severance Agreement (the “Agreement”) dated as of August 31, 2017, by and between PQ Corporation, a Pennsylvania corporation (the “Company”) a wholly-owned subsidiary of PQ Group Holdings Inc., a Delaware corporation (“Holdings”), and Scott Randolph (the “Executive”).  Any capitalized term not otherwise defined herein shall have the meaning ascribed to it in the Agreement. 
WHEREAS, the Executive currently serves as Executive Vice President and Group President—Performance Materials and Chemicals;
WHEREAS, effective as of March 1, 2019, Executive has agreed to become, and consents to assuming, the role in Potter Industries, LLC, as its President, with the duties assigned to that job as have been or may be outlined to the Executive by the Chief Executive Officer of the Company (the “2019 Change in Title and Responsibilities”); and
WHEREAS, the 2019 Change in Title and Responsibilities may constitute a Good Reason termination event pursuant to subpart (A) of the Good Reason definition in Section 1.01 of the Agreement.
NOW, THEREFORE, in consideration of the covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound hereby, the parties hereto agree and acknowledge as follows:

		
	1.
	The Executive agrees that in exchange for the delay in the period under which he can consider a Good Reason termination as set forth in paragraph 2 below, he will not use in any way the 2019 Change in Title and Responsibilities as a means or basis to provide the Company a Termination Notice for a Good Reason termination (or otherwise claim a Good Reason termination under the Agreement with respect to the 2019 Change in Title and Responsibilities).  The Executive also waives any time period provided for in the Agreement to consider the 2019 Change in Title and Responsibilities as it relates to a basis for Good Reason termination, except as set forth in paragraph 2 below. For the avoidance of doubt, nothing in this Agreement shall affect the Executive’s right to claim a Good Reason termination or to provide the Company a Termination Notice for a Good Reason termination for any reason other than the 2019 Change in Title and Responsibilities.

		
	2.
	In consideration for the Executive’s delay of the time period and other promises in paragraphs 1 and 2 hereof, the Company agrees that beginning on January 15, 2020 and ending on January 31, 2020 (the “Window Period”), Executive shall have the right to make a claim for a Good Reason termination and to provide the Company a Termination Notice in accordance with the requirements of Sections 1.01 and 2.01 of the Agreement as a result of the 2019 Change in Title and Responsibilities. If such a claim is made, the Executive’s separation of employment from the Company will be (unless otherwise agreed by the Company in writing) no sooner than March 1, 2020.  

Executive acknowledges and agrees that the Window Period will be his only opportunity to make a claim for, and to provide a Termination Notice in connection with, a Good Reason termination resulting from the 2019 Change in Title and Responsibilities.  No Good Reason termination will be effective under the Agreement, based on the 2019 Change in Title and Responsibilities, other than provided in this paragraph. 
		
	3.
	Other than as set forth in this Consent, the Agreement is unchanged and unamended, and remains in full force and effect.  

		
	4.
	The provisions of this Consent may be amended and waived only with the prior written consent of the Company and the Executive, and no course of conduct or failure or delay in enforcing the provisions of this Consent shall affect the validity, binding effect or enforceability of this Consent or any provision hereof.

		
	5.
	This Consent shall be governed by and construed in accordance with the domestic laws of the Commonwealth of Pennsylvania without giving effect to any choice or conflict of law provision or rule that would cause the application of the laws of any jurisdiction other than the Commonwealth of Pennsylvania.  

		
	6.
	This Consent may be executed in counterparts, each of which shall be deemed an original and all of which together shall constitute one and the same instrument. The parties hereto agree to accept a signed electronic copy of this Consent as a fully binding original.

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

EXECUTIVE

/s/ Scott Randolph        
Scott Randolph 

PQ CORPORATION

By: /s/ Belgacem Chariag        
Name: Belgacem Chariag
Title: President and CEO
   

2EX-10.1

 Exhibit 10.1 
  

 
 GLOBAL BLOOD THERAPEUTICS, INC. 

400 EAST JAMIE COURT, SUITE 101 

SOUTH SAN FRANCISCO, CA 94080 

March 16, 2015 

Jung Choi 
 Dear Jung, 

Global Blood Therapeutics, Inc. (the “Company”) is pleased to offer you employment on the following terms: 

1.      Position. Your initial title will be Chief Business and Strategy Officer, and you will initially report to Ted Love. This is
a full-time position. While you render services to the Company, you will not engage in any other employment, consulting or other business activity (whether full-time or part-time) that would create a conflict of interest with the Company. By signing
this letter agreement, you confirm to the Company that you have no contractual commitments or other legal obligations that would prohibit you from performing your duties for the Company. 

2.      Cash Compensation. The Company will pay you a starting salary at the rate of $350,000 per year, payable in accordance with
the Company’s standard payroll schedule. This salary will be subject to adjustment pursuant to the Company’s employee compensation policies in effect from time to time. In addition to your salary, you will be eligible to participate in the
Annual Performance-Based Cash Incentive Award Program which is based on the achievement of Company performance goals and your personal goals to be set with your manager. Your initial bonus benchmark will be 25% of your annual base salary. 

3.      Employee Benefits. As a regular employee of the Company, you will be eligible to participate in a number of
Company-sponsored benefits. Should you decide to participate in the Company health benefits program, your coverage will begin the first day of the month following your start date. In addition, you will be entitled to 20 days of paid time off in
accordance with the Company’s policy. 
 4.      Stock Options. Subject to the approval of the Company’s Board of
Directors or its Compensation Committee, you will be granted an option to purchase 500,000 shares of the Company’s Common Stock. The exercise price per share will be determined by the Board of Directors or the Compensation Committee when the
option is granted. The option will be subject to the terms and conditions applicable to options granted under the Company’s 2012 Stock Plan (the “Plan”), as described in the Plan and the applicable stock option agreement. You will
vest in 25% of the option shares after 12 months of continuous service, and the balance will vest in equal quarterly installments over the next 36 months of continuous service, as described in the applicable stock option agreement. 

5.      Employee Confidentiality and Assignment Agreement. Like all Company employees, you will be required, as a condition of your
employment with the Company, to sign the Company’s standard Employee Confidentiality and Assignment Agreement, a copy of which is attached hereto as Exhibit A. 

6.      Background Check. The Company may conduct a background or reference check (or both). If so, then you agree to cooperate
fully in those procedures, and this offer is subject to the Company’s approving the outcome of those checks, in the discretion of the Company. 
 7.
     Employment Relationship. Employment with the Company is for no specific period of time. Your employment with the Company will be “at will,” meaning that either you or the Company may terminate your
employment at any time and for any reason, with or without cause. Any contrary representations that may have been made to you are superseded by this letter agreement. This is the full and complete agreement between you and the Company on this

 
term. Although your job duties, title, reporting relationship, compensation and benefits, as well as the Company’s personnel policies and procedures, may change from time to time, the
“at will” nature of your employment may only be changed in an express written agreement signed by you and a duly authorized officer of the Company (other than you). 

8.      Taxes. All forms of compensation referred to in this letter agreement are subject to reduction to reflect applicable
withholding and payroll taxes and other deductions required by law. You agree that the Company does not have a duty to design its compensation policies in a manner that minimizes your tax liabilities, and you will not make any claim against the
Company or its Board of Directors related to tax liabilities arising from your compensation. 
 9.      Interpretation, Amendment and
Enforcement. This letter agreement and Exhibit A constitute the complete agreement between you and the Company, contain all of the terms of your employment with the Company and supersede any prior agreements, representations or
understandings (whether written, oral or implied) between you and the Company. This letter agreement may not be amended or modified, except by an express written agreement signed by both you and a duly authorized officer of the Company. The terms of
this letter agreement and the resolution of any disputes as to the meaning, effect, performance or validity of this letter agreement or arising out of, related to, or in any way connected with, this letter agreement, your employment with the Company
or any other relationship between you and the Company will be governed by California law, excluding laws relating to conflicts or choice of law. 

* * * * * 
 We hope that you will
accept our offer to join the Company. You may indicate your agreement with these terms and accept this offer by signing and dating both the enclosed duplicate original of this letter agreement and the enclosed Proprietary Information and Inventions
Agreement and returning them to me. This offer, if not accepted, will expire at the close of business on March 17, 2015. As required by law, your employment with the Company is contingent upon your providing legal proof of your identity and
authorization to work in the United States. Your employment is also contingent upon your starting work with the Company on April 6, 2015. 

If you have any questions, please call me at 650-741-7752.

  

	
	Very truly yours,
	
	/s/ Ted W. Love
	
	Ted W. Love, M.D.
	 Chief Executive Officer

GLOBAL BLOOD THERAPEUTICS, INC.

 I have read and accept this employment offer: 
  

	
	
	/s/ Jung Choi
	Jung Choi

  

			
		
	Dated:	 	3/16/15

 Attachment 

Exhibit A: Employee Confidentiality and Assignment Agreement 

  
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