Document:

EX-10.1

 Exhibit 10.1 

AMENDMENT NO. 3, dated as of April 30, 2015 (this “Amendment”), to the Revolving Credit Agreement, dated as of
April 30, 2013, as amended by Amendment No. 1, dated as of July 22, 2013, and as amended by Amendment No. 2, dated as of June 30, 2014 (as so amended, the “Credit Agreement”), among AIR PRODUCTS AND
CHEMICALS, INC. (the “Parent”), the Other Borrowers parties thereto from time to time, the Lenders parties thereto from time to time, THE ROYAL BANK OF SCOTLAND PLC, not in its individual capacity but solely as the resigning
Administrative Agent for the Lenders thereunder (“RBS”), and HSBC BANK USA, N.A., not in its individual capacity but solely as the successor Administrative Agent for the Lenders thereunder (“HSBC”) and as a Lender.

 WHEREAS, pursuant to the Credit Agreement, the Lenders have agreed to make loans to the Parent and certain of its Subsidiaries. 

WHEREAS, immediately prior to the Amendment Effective Date (as defined below), RBS shall have assigned its rights and obligations as a Lender
and as an Issuer to Mizuho Bank, Ltd. (“Mizuho”) and Mizuho shall have accepted the same pursuant to Section 12.14 of the Credit Agreement (the “RBS Assignment”). 

WHEREAS, the parties hereto desire to amend the Credit Agreement on the terms and subject to the conditions set forth herein. 

Accordingly, in consideration of the mutual agreements herein contained and other good and valuable consideration, the sufficiency and receipt
of which are hereby acknowledged, the parties hereto hereby agree as follows: 
 SECTION 1. Definitions. Capitalized terms used but
not defined in this Amendment have the meanings assigned thereto in the Credit Agreement. 
 SECTION 2. Resignation of Administrative
Agent. 
 (a) Effective as of the Amendment Effective Date, RBS hereby resigns as Administrative Agent under the Credit Agreement. Upon
the effectiveness of such resignation, RBS shall be discharged from its duties under the Credit Agreement and the other Loan Documents, but the provisions of the Credit Agreement, including, without limitation, the indemnification provisions
therein, shall inure to its benefit as to any actions taken or omitted by it while it was the Administrative Agent under the Credit Agreement. On or before the Amendment Effective Date, RBS shall transfer to HSBC all records and documents necessary
or appropriate in connection with the performance of the duties of the successor Administrative Agent. RBS, for the purpose of more fully and certainly vesting in and confirming to HSBC, as successor Administrative Agent, the rights, powers, duties
and obligations which RBS now holds under and by virtue of the Credit Agreement and the other Loan Documents, hereby agrees, upon reasonable request of HSBC, as successor Administrative Agent, to execute, acknowledge and deliver such further
instruments of conveyance and further assurances and to do such other acts as may reasonably be required for more fully and certainly vesting in and confirming to HSBC, as successor Administrative Agent, such rights, powers, duties and obligations

 SECTION 3. Appointment of Successor Administrative Agent. 

(a) HSBC is hereby appointed as the successor Administrative Agent under the Credit Agreement pursuant to Section 11.10 of the Credit
Agreement. HSBC accepts such appointment and agrees as of the Amendment Effective Date and immediately upon the effectiveness of the resignation of RBS as Administrative Agent that HSBC shall be the Administrative Agent under the Credit Agreement.

 (b) In no event shall HSBC, as successor Administrative Agent, be liable for the acts or omissions of RBS as Administrative Agent or any
other predecessor Administrative Agent. In no event shall RBS, as predecessor Administrative Agent, be liable for the acts or omissions of HSBC as Administrative Agent or any other successor Administrative Agent. 

(c) This Amendment shall not constitute an assumption by HSBC of any liability of RBS, if any, arising out of a breach by RBS, if any, prior
to its resignation of its duties under the Credit Agreement and the other Loan Documents. This Amendment shall not constitute an assumption by RBS of any liability of HSBC, if any, arising out of a breach by HSBC, if any, after its assumption of its
duties under the Credit Agreement and the other Loan Documents. 
 (d) As of the date hereof, the only Loan Documents known to HSBC are
(i) the Revolving Credit Agreement, dated as of April 30, 2013, (ii) Amendment No. 1 to the Credit Agreement, dated as of July 22, 2013, (iii) a Notice of Increase in Total Revolving Credit Commitment, dated as of
June 19, 2014, (iv) Amendment No. 2 to the Credit Agreement, dated as of June 30, 2014 and (v) the schedules and exhibits attached to the foregoing, in each case in the form posted on the Platform. In no event shall HSBC as
successor Administrative Agent be deemed to have knowledge of any other documentation or information related to the credit facility (including, without limitation, related to any Borrower) unless and until it shall, after the date hereof, receive
actual knowledge of additional documentation or information that may hereafter arise or be delivered to it as successor Administrative Agent. For the avoidance of doubt, all exculpation and indemnifications provisions in the Credit Agreement shall
be construed to take into effect this limitation on knowledge. 
 SECTION 4. Amendment of the Credit Agreement. Effective as of the
Amendment Effective Date: 
 (a) The cover page and the recitals to the Credit Agreement are hereby amended by deleting the reference to
“$2,500,000,000” in each instance and substituting in lieu thereof in each instance “$2,405,000,000”. 

 (b) The cover page and the preamble to the Credit Agreement are hereby amended by deleting the
reference to “The Royal Bank of Scotland plc” in each instance and substituting in lieu thereof in each instance “HSBC Bank USA, N.A.” 

(c) The cover page to the Credit Agreement is hereby amended (i) by deleting the reference to “RBS Securities Inc.” as a Joint
Lead Arranger and Book Runner and substituting in lieu thereof “Mizuho Bank, Ltd.” and (ii) by deleting the reference to “HSBC Bank USA, N.A.” as a Co-Syndication Agent and substituting in lieu thereof “Mizuho Bank,
Ltd.” 
 (d) Each of the definitions of “Administrative Agent,” “Euro-Rate,” “Issuer,”
“LIBO-Rate” and “Prime Rate” now appearing in Section 1.01 of the Credit Agreement is hereby amended and restated in its entirety to read as follows: 

“Administrative Agent” shall mean HSBC in its capacity as Administrative Agent and any successor Administrative Agent
hereunder appointed in accordance with Section 11.10. 
 “Euro-Rate” shall mean, for any day for each Funding
Segment of the Euro-Rate Portion corresponding to a proposed or existing Euro-Rate Funding Period, the applicable ICE Benchmark Administration Interest Settlement Rate (or any other Person that takes over the administration of such rate, including
NYSE EuroNext) for deposits in the applicable Designated Currency appearing on an internationally recognized service selected by the Administrative Agent, such as Reuters, for such Designated Currency at approximately 11:00 a.m. (London time) two
Business Days prior to the first day of such Euro-Rate Funding Period, and having a maturity equal to such Euro-Rate Funding Period, provided that, if no such service for such Designated Currency is available to the Administrative Agent for any
reason, the applicable Euro-Rate for the relevant Euro-Rate Funding Period shall instead be the Reference Bank Rate at approximately 11:00 a.m. (London time) two Business Days prior to the first day of such Euro-Rate Funding Period. 

“Issuer” shall mean each of HSBC Bank USA, N.A., Mizuho Bank, Ltd. and BNP Paribas and any replacement issuer of
Letters of Credit named hereunder pursuant to Section 2.10(h). With respect to any Letter of Credit or requested Letter of Credit or any amounts payable relating thereto, “Issuer” means the issuer thereof. An Issuer may, in its
discretion, arrange for one or more Letters of Credit to be issued by its Affiliates (so long as the applicable Affiliate has been approved by the Parent, which approval will not be unreasonably withheld), in which case the term “Issuer”
shall include any such Affiliate with respect to Letters of Credit issued by such Affiliate. 

 “LIBO-Rate” shall mean, with respect to each LIBOR-based Loan, the
London interbank offered rate administered by ICE Benchmark Administration Limited (or any other Person that takes over administration of such rate) appearing on Reuters “LIBOR 01” screen (or on any successor or substitute page of such
Reuters screen providing rate quotations comparable to those currently provided on such page of such Reuters screen, as determined by the Administrative Agent from time to time for purposes of providing quotations of interest rates for deposits in
the relevant currency in the London interbank market) at approximately 11:00 a.m., London time, two Business Days prior to the making of such Loan, as the rate for the offering of the relevant currency deposits with a maturity comparable to the
Interest Period of such LIBOR-based Loan, provided that, if no such service is available to the Administrative Agent for any reason, the applicable LIBO-Rate for the relevant currency shall instead be the Reference Bank Rate at approximately 11:00
a.m. (London time) two Business Days prior to the day such Loan is to be made for delivery. Notwithstanding the foregoing, in no event shall the LIBO-Rate be less than zero. 

“Prime Rate” shall mean the rate of interest per annum publicly announced from time to time by HSBC as its prime rate
in effect at its office located at 452 Fifth Avenue, New York, New York; each change in the Prime Rate shall be effective from and including the date such change is publicly announced. 

“Reference Banks” shall mean three or more Lenders selected by the Administrative Agent with the consent of Parent
(whose consent shall not be required if an Event of Default shall have then occurred and be continuing). . In no event shall the Administrative Agent (or the Parent, if applicable) incur any liability related to the selection of Reference Banks
(including, without limitation, in the event that any or all of the Reference Banks are unable or unwilling to provide a Reference Bank Rate). 

“Reference Bank Rate” shall mean the arithmetic mean of the rates (rounded upwards to four decimal places) as
supplied to the Administrative Agent at its request by the Reference Banks as the rate at which the relevant Reference Bank could borrow funds in the London interbank market in the relevant currency and for the relevant Interest Period, were it to
do so by asking for and then accepting interbank offers for deposits in reasonable market size in that currency and for that Interest Period, provided that, if any of the Reference Banks fail to provide a rate to the Administrative Agent, the
Reference Bank Rate will be determined based on the rates provided by those Reference Banks that do supply a rate. 

 (e) Section 1.01 of the Credit Agreement is hereby amended by inserting at the end of the
definition of “Federal Funds Effective Rate” the following new sentence: 
 “Notwithstanding the foregoing, in no event shall
the Federal Funds Effective Rate be less than zero.” 
 (f) Section 1.01 of the Credit Agreement is hereby amended by inserting
the following new definition in the appropriate alphabetical order: 
 “HSBC” shall mean HSBC Bank USA, N.A. 

(g) Section 11.01 of the Credit Agreement is hereby amended by deleting the word “RBS” in each instance and substituting in
lieu thereof in each instance the word “HSBC”. 
 (h) For purposes of consistency, the Credit Agreement is hereby amended by
deleting the words “Issuing Bank” in each instance and substituting in lieu thereof in each instance the word “Issuer”. 

(i) Schedule III to the Credit Agreement is hereby amended and restated in its entirety to read as set forth on Schedule III to this
Amendment. 
 (j) Schedule IV to the Credit Agreement is hereby amended and restated in its entirety to read as set forth on Schedule IV to
this Amendment. 
 (k) The address for any notice or other communication to the Administrative Agent under the Credit Agreement shall be as
follows: 
 Address for Notices: 

HSBC Bank USA, N.A. 
 452 Fifth
Avenue – 8E6 
 New York, NY 10018 

Attention: Lillian Cortes, Administrator 

Email: ctlany.loanagency@us.hsbc.com 

Telephone: +1-212-525-7293 

Facsimile: +1-917-229-6659 

SECTION 5. Representations and Warranties. To induce the other parties hereto to enter into this Amendment, the Parent, hereby
represents and warrants to each of the resigning and successor Administrative Agent and the Lenders that at the time of and immediately after giving effect to this Amendment on the Amendment Effective Date: 

(a) Each of the representations and warranties made by the Parent in Sections 5.03, 5.04, 5.05 and 5.07 of the Credit Agreement are true
and correct in all material respects on and as of the Amendment Effective Date as if made on and as of such date, both immediately before and immediately after giving effect to this Amendment. 

 (b) No Event of Default and no Potential Event of Default has occurred and is continuing on and
as of the Amendment Effective Date, both immediately before and immediately after giving effect to this Amendment. 
 SECTION 6.
Effectiveness. This Amendment shall become effective as of the date (the “Amendment Effective Date”) on which: 
 (a)
The RBS Assignment shall have (i) been duly executed and delivered by RBS, Mizuho and each Issuer and (ii) become effective. 

(b) The Administrative Agent (or its counsel) shall have received counterparts of this Amendment that, when taken together, bear the
signatures of each Borrower, the Required Lenders and the successor Administrative Agent. 
 (c) The representations and warranties in
Section 5 of this Amendment shall be true and correct. 
 (d) The Parent shall have paid all fees and expenses required to be paid by
it on or before the Amendment Effective Date in connection with this Amendment. 
 SECTION 7. Counterparts. This Amendment may be
executed in two or more counterparts, each of which shall constitute an original but all of which when taken together shall constitute a single contract. Delivery of an executed counterpart of a signature page of this Amendment by facsimile or other
electronic transmission shall be effective as delivery of a manually executed counterpart of this Amendment. 
 SECTION 8. Effect of
Amendment. Except as expressly set forth herein, this Amendment shall not by implication or otherwise alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement,
all of which are ratified and affirmed in all respects and shall continue in full force and effect. After the date hereof, any reference to the Credit Agreement shall mean the Credit Agreement as modified hereby. This Amendment shall constitute a
“Loan Document” for all purposes of the Credit Agreement and the other Loan Documents. 
 SECTION 9. Fee Letter. By signing
this Amendment, the parties to the Fee Letter agree to the modifications thereto set forth in this Section 9. The next annual payment of the Administration Fee (as defined in the Fee Letter) and each subsequent annual payment thereof shall be
payable to HSBC as Administrative Agent rather than to RBS as Administrative Agent. The first full paragraph on the second page of the Fee Letter is hereby amended by deleting the words “Lead Lenders” and “Issuing Bank” and
substituting in lieu thereof the word “Issuers” and “Issuer”, respectively. Mizuho Bank, Ltd. hereby replaces RBS as a party thereto. All references to the “Fee Letter” in the Credit Agreement shall refer to the Fee
Letter as amended hereby. 

 SECTION 10. Notices. All notices hereunder shall be given in accordance with the
provisions of Section 12.05 of the Credit Agreement. 
 SECTION 11. Direction to Administrative Agent. The Parent and the
Lenders consent to the appointment of HSBC as the successor Administrative Agent. The Lenders authorize, instruct and direct HSBC, as successor Administrative Agent, to execute this Amendment and to take such further actions as may be necessary to
give effect to the transactions contemplated hereby. 
 SECTION 12. Governing Law; Submission to Jurisdiction: Waiver of Jury Trial.

 (a) Governing Law. THIS AMENDMENT SHALL BE GOVERNED BY, CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW
YORK, WITHOUT REGARD TO CHOICE OF LAW PRINCIPLES. 
 (b) Certain Waivers. EACH BORROWER, EACH LENDER, EACH ISSUER AND THE
ADMINISTRATIVE AGENT WAIVES THE RIGHT TO TRIAL BY JURY IN ANY ACTION, SUIT OR PROCEEDING BY ANY PERSON ARISING FROM OR RELATING TO THIS AMENDMENT OR ANY STATEMENT, COURSE OF CONDUCT, ACT, OMISSION OR EVENT OCCURRING IN CONNECTION HEREWITH
(COLLECTIVELY, “RELATED LITIGATION”). IN ADDITION, EACH BORROWER HEREBY IRREVOCABLY AND UNCONDITIONALLY: 
 (i) AGREES
THAT ANY RELATED LITIGATION BY ANY ISSUER OR LENDER OR THE ADMINISTRATIVE AGENT MAY BE BROUGHT IN ANY STATE OR FEDERAL COURT OF COMPETENT JURISDICTION SITTING IN NEW YORK COUNTY, NEW YORK, AND SUBMITS TO THE JURISDICTION OF SUCH COURTS (BUT NOTHING
HEREIN SHALL AFFECT THE RIGHT OF THE ADMINISTRATIVE AGENT OR ANY ISSUER, LENDER OR BORROWER TO BRING ANY ACTION, SUIT OR PROCEEDING IN ANY OTHER FORUM); 

(ii) WAIVES ANY OBJECTION WHICH IT MAY HAVE AT ANY TIME TO THE LAYING OF VENUE OF ANY RELATED LITIGATION BROUGHT IN ANY SUCH COURT, WAIVES
ANY CLAIM THAT ANY SUCH RELATED LITIGATION HAS BEEN BROUGHT IN AN INCONVENIENT FORUM, AND WAIVES ANY RIGHT TO OBJECT, WITH RESPECT TO ANY RELATED LITIGATION BROUGHT IN ANY SUCH COURT, THAT SUCH COURT DOES NOT HAVE JURISDICTION OVER SUCH BORROWER;
AND 
 (iii) CONSENTS AND AGREES TO SERVICE OF ANY SUMMONS, COMPLAINT OR OTHER LEGAL PROCESS IN ANY RELATED LITIGATION BY REGISTERED OR
CERTIFIED U.S. MAIL, POSTAGE PREPAID, TO SUCH BORROWER AT THE ADDRESS FOR NOTICES DESCRIBED IN SECTION 10 HEREOF, AND CONSENTS AND AGREES THAT SUCH SERVICE SHALL CONSTITUTE IN EVERY RESPECT VALID AND EFFECTIVE SERVICE (BUT NOTHING HEREIN SHALL
AFFECT THE VALIDITY OR EFFECTIVENESS OF PROCESS SERVED IN ANY OTHER MANNER PERMITTED BY LAW). 
 [signature pages follow] 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed by their
respective authorized officers as of the day and year first above written. 
  

			
	 AIR PRODUCTS AND CHEMICALS, INC.,

		
	 by
	 	 /s/ Gregory E. Weigard

		 	 Name: Gregory E. Weigard

		 	 Title: Corporate Treasurer

 
			
	 THE ROYAL BANK OF SCOTLAND PLC, as

the Resigning Administrative Agent,

		
	by	 	 /s/ William McGinty

		 	Name: William McGinty
		 	Title: Director
	
	And for purposes of Section 9 only:
	
	RBS SECURITIES INC.
		
	by	 	 /s/ Michael F. Newcomb II

		 	Name: Michael F. Newcomb II
		 	Title: Managing Director

 
			
	 HSBC BANK USA, N.A.,
 as the
Successor Administrative Agent

		
	by	 	 /s/ Joseph A. Lioret

		 	Name: Joseph A. Lioret
		 	Title: Vice President
	
	 HSBC BANK USA, N.A.,
 as a
Lender

		
	by	 	 /s/ David A. Mandell

		 	Name: David A. Mandell
		 	Title: Managing Director
	
	And for purposes of Section 9 only:
	
	HSBC SECURITIES (USA), INC.
		
	by	 	 /s/ Michael Bieber

		 	Name: Michael Bieber
		 	Title: Managing Director

			
	CO-SYNDICATION AGENTS
	
	BNP PARIBAS,
	As a Lender and as Co-Syndication Agent
		
	    by	 	 /s/ Nanette Baudon

		 	 Name: Nanette Baudon

		 	 Title: Director

		
	    by	 	 /s/ Ade Adedeji

		 	 Name: Ade Adedeji

		 	 Title: Vice President

	
	And for purposes of Section 9 only:
	
	BNP PARIBAS SECURITIES CORP.
		
	by	 	 /s/ Albert Arencibia

		 	 Name: Albert Arencibia

		 	 Title: Vice President

		
	by	 	 /s/ Ade Adedeji

		 	 Name: Ade Adedeji

		 	 Title: Vice President

	
	MIZUHO BANK, LTD.,
	 As a Lender and as Co-Syndication Agent and

an Issuer

		
	    by	 	 /s/ Donna Demagistris

		 	 Name: Donna Demagistris

		 	 Title: Authorized Signatory

 
			
	 SIGNATURE PAGE TO THE

AIR PRODUCTS AND CHEMICALS, INC.

AMENDMENT DATED
 AS OF THE DATE FIRST
WRITTEN ABOVE

	
	 Name Of Lender:

	
	 BANK OF AMERICA, N.A.

		
	     by
	 	 /s/ Christopher Dibiase

		 	 Name: Christopher DiBiase

		 	 Title: Director

 
			
	     SIGNATURE PAGE TO THE

AIR PRODUCTS AND CHEMICALS, INC.

AMENDMENT DATED
 AS OF THE DATE FIRST
WRITTEN ABOVE

	
	Name Of Lender:
	
	THE BANK OF TOKYO-MITSUBISHI UFJ, LTD.,
		
	    by	 	 /s/ Mustafa Khan

		 	 Name: Mustafa Khan

		 	 Title: Director

 
			
	 SIGNATURE PAGE TO THE

AIR PRODUCTS AND CHEMICALS, INC. AMENDMENT DATED

AS OF THE DATE FIRST WRITTEN ABOVE

	
	Name Of Lender:
	
	BARCLAYS BANK PLC.
		
	    by	 	 /s/ Vanessa Kurbatskiy

		 	 Name: Vanessa Kurbatskiy

		 	 Title: Vice President

 
			
	SIGNATURE PAGE TO THE
	AIR PRODUCTS AND CHEMICALS, INC.
	AMENDMENT DATED
	AS OF THE DATE FIRST WRITTEN ABOVE
	
	Name Of Lender:
	
	DEUTSCHE BANK AG NEW YORK BRANCH
		
	 by
	 	 /s/ Ming K. Chu

		 	 Name: Ming K. Chu

		 	 Title: Vice President

		
	 by
	 	 /s/ Virginia Cosenza

		 	 Name: Virginia Cosenza

		 	 Title: Vice President

 
			
	SIGNATURE PAGE TO THE
	AIR PRODUCTS AND CHEMICALS, INC.
	AMENDMENT DATED
	AS OF THE DATE FIRST WRITTEN ABOVE
	
	Name Of Lender:
	
	INTESA SANPAOLO S.P.A. – NEW YORK BRANCH
		
	 by
	 	 /s/ John J. Michalisin

		 	 Name: John J. Michalisin

		 	 Title: First Vice President

		
	 by
	 	 /s/ Francesco Di Mario

		 	 Name: Francesco Di Mario

		 	 Title: F.V.P. & Head of Credit

 
			
	SIGNATURE PAGE TO THE
	AIR PRODUCTS AND CHEMICALS, INC.
	AMENDMENT DATED
	AS OF THE DATE FIRST WRITTEN ABOVE
	
	Name Of Lender:
	
	JPMORGAN CHASE BANK, N.A.
		
	    by	 	 /s/ Peter Predun

		 	 Name: Peter Predun

		 	 Title: Executive Director

 
			
	 SIGNATURE PAGE TO THE

AIR PRODUCTS AND CHEMICALS, INC.

AMENDMENT DATED
 AS OF THE DATE FIRST
WRITTEN ABOVE

	
	 Name Of Lender:

	
	 WELLS FARGO BANK, N.A.

		
	     by
	 	 /s/ Michael J. Gigler

		 	 Name: Michael J. Gigler

		 	 Title: Senior Vice President

 
			
	 SIGNATURE PAGE TO THE

AIR PRODUCTS AND CHEMICALS, INC.

AMENDMENT DATED
 AS OF THE DATE FIRST
WRITTEN ABOVE

	
	 Name Of Lender:

	
	 THE BANK OF NOVA SCOTIA

		
	     by
	 	 /s/ Michelle C. Phillips

		 	 Name: Michelle C. Phillips

		 	 Title: Director & Execution Head

 
			
	SIGNATURE PAGE TO THE
	AIR PRODUCTS AND CHEMICALS, INC.
	AMENDMENT DATED
	AS OF THE DATE FIRST WRITTEN ABOVE
	
	Name Of Lender:
	
	MORGAN STANLEY BANK, N.A.
		
	 by
	 	 /s/ Dmitriy Barskiy

		 	 Name: Dmitriy Barskiy

		 	 Title: Authorized Signatory

 
			
	 SIGNATURE PAGE TO THE

AIR PRODUCTS AND CHEMICALS, INC.

AMENDMENT DATED
 AS OF THE DATE FIRST
WRITTEN ABOVE

	
	 Name Of Lender:

	
	 SANTANDER BANK, N.A.

		
	     by
	 	 /s/ William Maag

		 	 Name: William Maag

		 	 Title: Managing Director

			
	SIGNATURE PAGE TO THE
	AIR PRODUCTS AND CHEMICALS, INC.
	 AMENDMENT DATED

AS OF THE DATE FIRST WRITTEN ABOVE

	
	Name Of Lender:
	
	SUMITOMO MITSUI BANKING CORPORATION:
		
	     by
	 	 /s/ James D. Weinsteun

		 	 Name: James D. Weinstein

		 	 Title: Managing Director

			
	SIGNATURE PAGE TO THE
	AIR PRODUCTS AND CHEMICALS, INC.
	 AMENDMENT DATED

AS OF THE DATE FIRST WRITTEN ABOVE

	
	 Name Of Lender:

	
	 BANCO BILBAO VIZCAYA ARGENTARIA,

	 S.A. NEW YORK BRANCH

 
			
		
	     by
	 	 /s/ Veronica Incera

		 	 Name: Veronica Incera

		 	 Title: Managing Director

		
	     by
	 	 /s/ Luca Sacchi

		 	 Name: Luca Sacchi

		 	 Title: Managing Director

 SCHEDULE III 

ADMINISTRATIVE AGENT’S OFFICE 
 HSBC
Bank USA, N.A. 
 452 Fifth Avenue – 8E6 
 New York, NY
10018 
 Attention: Lillian Cortes, Administrator 
 Email:
ctlany.loanagency@us.hsbc.com 
 Telephone: +1-212-525-7293 

Facsimile: +1-917-229-6659 
  

	*	or such other address and/or contact information as may be designated by the Administrative Agent with respect to any Designated Currency. In case of any such designation, the times specified in this Agreement shall,
where relevant, be adjusted to the appropriate local times. 

 SCHEDULE IV 

REVOLVING CREDIT COMMITTED AMOUNTS 
  

					
	 HSBC Bank USA, N.A.
	  	$	200,000,000	  
		
	 Mizuho Bank, Ltd.
	  	$	200,000,000	  
		
	 BNP Paribas
	  	$	200,000,000	  
		
	 Bank of America, N.A.
	  	$	190,000,000	  
		
	 The Bank of Tokyo-Mitsubishi UFJ, Ltd., New York Branch
	  	$	190,000,000	  
		
	 Barclays Bank PLC
	  	$	190,000,000	  
		
	 Deutsche Bank AG, New York Branch
	  	$	190,000,000	  
		
	 Intesa SanPaolo S.p.A. New York Branch
	  	$	190,000,000	  
		
	 JPMorgan Chase Bank N.A.
	  	$	190,000,000	  
		
	 Wells Fargo Bank, N.A.
	  	$	190,000,000	  
		
	 The Bank of Nova Scotia
	  	$	95,000,000	  
		
	 Morgan Stanley Bank, N.A.
	  	$	95,000,000	  
		
	 Santander Bank, N.A. (formerly known as Sovereign Bank, N.A.)
	  	$	95,000,000	  
		
	 Sumitomo Mitsui Banking Corporation
	  	$	95,000,000	  
		
	 Banco Bilbao Vizcaya Argentaria, S.A. (BBVA)
	  	$	95,000,000	  
		  	  
	  
	 
	 TOTAL
	  	$	2,405,000,000EX-10.2

 Exhibit 10.2 

AIR PRODUCTS AND CHEMICALS, INC. 

EXECUTIVE 
 SEPARATION
PROGRAM 
 As Amended Effective as of 20 May 2015 

 ARTICLE I 

PURPOSE AND TERM OF PLAN 

Section 1.01 Purpose. Air Products and Chemicals, Inc. hereby establishes the Air Products and Chemicals, Inc. Executive
Separation Program (the “Plan”) for the purpose of facilitating the planned separations of Covered Executives (as defined below) and providing severance benefits to a Covered Executive. 

Section 1.02 Term of the Plan. The Plan, was originally effective July 17, 2003. This amendment and restatement of the Plan
shall be effective for a Termination of Employment occurring on or after 20 May 2015. The Plan will continue until such time as the Committee (as defined below) acting in its sole discretion, elects to modify, supersede or terminate the Plan in
accordance with, and subject to, the provisions of Article V. 
 ARTICLE II 

DEFINITIONS 
 Section 2.01
“Administrator” shall mean the Committee or, to the extent the Committee delegates its powers in accordance with Section 4.01, its delegate with respect to matters so delegated. 

Section 2.02 “Air Products” shall mean Air Products and Chemicals, Inc. 

Section 2.03 “Annual Incentive Plan” shall mean the Air Products and Chemicals, Inc. Annual Incentive Plan and/or any similar,
successor or substitute short-term bonus plan, program or pay practice. 
 Section 2.04 “Benefit” or “Benefits”
shall mean any or all of the benefits that a Covered Executive is entitled to receive pursuant to Sections 3.02, 3.03 and 3.04 of the Plan. 

Section 2.05 “Board” means the Board of Directors of Air Products. 

Section 2.06 “Cause” shall mean (a) the willful failure of a Covered Executive to substantially perform his or her duties
(other than any such failure due to Disability), after a demand for substantial performance is delivered, which demand shall identify the manner in which the Company believes that the Covered Executive has not substantially performed his duties,
(b) a Covered Executive’s engaging in willful and serious misconduct that has caused or would reasonably be expected to result in material injury to the Company or any of its affiliates, (c) a Covered Executive’s conviction of,
or entering a plea of nolo contendere to, a crime that constitutes a felony, (d) a Covered Executive’s engaging (i) in repeated acts of insubordination or (ii) an act of dishonesty, or (e) violation by the
Covered Executive of any provision of Company’s Code of Conduct. 

  
 2 

 Section 2.07 “CEO” shall mean the Chief Executive Officer of Air Products, or a
former chief executive officer of Air Products whose removal from such position constituted Good Reason. 
 Section 2.08 “Change
in Control” shall be as defined under the Company’s standard change in control agreement for senior executives or, if applicable, the change in control agreement that is in effect for a Covered Executive at the time of the Change in
Control. 
 Section 2.09 “Committee” shall mean the Management Development and Compensation Committee of the Board, or other
person or persons appointed by the Board, to act on behalf of the Company with respect to the Plan as provided in the Plan. 

Section 2.10 “Company” shall mean Air Products and any of its wholly or majority owned subsidiaries and affiliates. The term
“Company” shall include any successor to Air Products such as a corporation succeeding to the business of Air Products or any subsidiary, by merger, consolidation or liquidation, or purchase of assets or stock or similar transaction. 

Section 2.11 “Covered Executive” shall mean the executives listed on Exhibit A. 

Section 2.12 “Disability” shall be as defined under the Company’s long-term disability plan. 

Section 2.13 “Employment Termination Date” shall mean the date on which a Covered Executive incurs a Termination of Employment.

 Section 2.14 “ERISA” shall mean the Employee Retirement Income Security Act of 1974, as amended. 

Section 2.15 “Fiscal Year” shall mean each period commencing on October 1 and ending on the subsequent September 30.

 Section 2.16 “Good Reason” shall mean the occurrence of any of the following without a Covered Executive’s consent:

 (a) A material adverse change in the Covered Executive’s position or office with the Company, including, without
limitation, dismissal of the Covered Executive from membership on the Corporate Executive Committee and any successor senior executive committee; or a material diminution in the Covered Executive’s duties, reporting responsibilities and
authority with the Company; or an assignment to the Covered Executive of duties or responsibilities, which are materially inconsistent with the Covered Executive’s status or position with the Company; provided that, any of the
foregoing in connection with termination of a Covered Executive’s employment for Cause, Retirement or Disability shall not constitute Good Reason; 

(b) Reduction of the Covered Executive’s Salary or failure by the Company to pay, in substantially equal installments
conforming with the Company’s normal pay practices, the Covered Executive’s Salary; provided, however, that the Company may reduce a Covered 

  
 3 

 
Executive’s Salary if such reduction is no less favorable to the Covered Executive than the average annual percentage reduction during the applicable Fiscal Year for all Highly Compensated
Employees; provided further that the Company may adjust its normal payroll practices with respect to the payment of a Covered Executive’s Salary provided that such adjustment is applicable to all Highly Compensated Employees; 

(c) A material reduction in a Covered Executive’s annual incentive opportunities under the Annual Incentive Plan without a
corresponding increase in other incentive compensation payable by the Company; provided, however, that the Company may reduce a Covered Executive’s annual incentive opportunities under the Annual Incentive Plan if such reduction
is on a basis no less favorable to the Covered Executive than the basis upon which the Company reduces the annual incentive opportunities payable to all Highly Compensated Employees during the applicable Fiscal Year; 

(d) A material reduction in a Covered Executive’s aggregate Company provided benefits under the Company’s employee
pension benefit, life insurance, medical, dental, health and accident, disability, severance and paid vacation plans, programs and practices; provided however that the Company may reduce or adjust the aggregate benefits payable to a
Covered Executive if such reduction is on a basis no less favorable to the Covered Executive than the basis on which the Company reduces aggregate benefits payable with respect to Highly Compensated Employees; or 

(e) A requirement by the Company that a Covered Executive relocate his or her principal place of employment by more than fifty
(50) miles from the location in effect immediately prior to the relocation. 
 Notwithstanding anything to the contrary contained
herein, a Covered Executive’s termination of employment will not be treated as for Good Reason as the result of the occurrence of any event specified in the foregoing clauses (a) through (f) (each such event, a “Good Reason
Event”) unless, within 90 days following the occurrence of such event, the Covered Executive provides written notice to the Company of the occurrence of such event, which notice sets forth the exact nature of the event and the conduct required
to cure such event. The Company will have 30 days from the receipt of such notice within which to cure such event (such period, the “Cure Period”). If, during the Cure Period, such event is remedied, the Covered Executive will not be
permitted to terminate his or her employment for Good Reason. If, at the end of the Cure Period, the Good Reason Event has not been remedied, a Covered Executive’s voluntary termination will be treated as for Good Reason during the 90-day
period that follows the end of the Cure Period. If a Covered Executive does not terminate employment during such 90-day period, the Covered Executive will not be permitted to terminate employment and receive the payments and benefits set forth under
this Agreement as a result of such Good Reason Event. 
 Section 2.17 “Highly Compensated Employee” shall mean the highest
paid one percent of employees of the Company together with all corporations, partnerships, trusts, or other entities controlling, controlled by, or under common control with, the Company. 

  
 4 

 Section 2.18 “Long-Term Incentive Plan” shall mean the Air Products and Chemicals,
Inc. Long-Term Incentive Plan, approved by Air Products’ shareholders most recently on 24 January 2013, together with all predecessor and similar successor or substitute intermediate and/or long-term incentive compensation plan or program.

 Section 2.19 “Pension Plans” shall mean, the Air Products and Chemicals, Inc. Pension Plan for Salaried Employees, as
amended from time to time together with any similar, succeeding or substitute plan, and the Supplementary Pension Plan of Air Products and Chemicals, Inc. as amended from time to time, together with any similar, succeeding or substitute plan, and
any private annuity or pension agreement between the Covered Executive and the Company. 
 Section 2.20 “Plan” shall mean the
Air Products and Chemicals, Inc. Executive Separation Program, as set forth herein, and as the same may from time to time be amended. 

Section 2.21 “Retirement Savings Plan” shall mean the Air Products and Chemicals, Inc. Retirement Savings Plan, as amended from
time to time, together with any similar, succeeding or substitute plan. 
 Section 2.22 “Plan Year” shall mean each period
commencing on October 1 during which the Plan is in effect and ending on the subsequent September 30. “Salary” shall mean an amount equal to the annual rate of a Covered Executive’s base salary payable to the Covered
Executive in all capacities with the Company and its Subsidiaries or affiliates on the Covered Executive’s Employment Termination Date. 

Section 2.23 “Savings Plans” shall mean the Retirement Savings Plan and the Air Products and Chemicals, Inc. Deferred
Compensation Plan, as each is amended from time to time, together with any similar, succeeding or substitute plan(s). 
 Section 2.24
“Section 409A” shall mean Section 409A of the Internal Revenue Code of 1986, as amended, and the regulations thereunder as in effect from time to time. 

Section 2.25 “Termination of Employment” shall mean termination of the active employment relationship between a Covered
Executive and the Company (a) by the Company for reasons other than the Covered Executive’s death, Disability, retirement after attaining age 65 or Cause or (b) by the Covered Executive for Good Reason; provided that, if ownership of
any subsidiary, unit, division or business of the Company is divested, spun off, sold or otherwise transferred to a third party or third parties, including the stockholders of Air Products, and the Covered Executive’s employment within such
divested or transferred subsidiary, unit, division or business continues, the termination of the employment relationship between the Covered Executive and the Company shall not be a Termination of Employment. 

  
 5 

 ARTICLE III 

ENTITLEMENT TO AND DESCRIPTION OF BENEFITS 

Section 3.01 Earned Salary; Accrued Vacation. Upon a Covered Executive’s Termination of Employment, the Company shall pay to
the Covered Executive, as soon as practicable but no later than 30 days after the Covered Executive’s Employment Termination Date, the Covered Executive’s (i) Salary, to the extent earned but unpaid as of the Employment
Termination Date, and (ii) vacation pay accrued through the Employment Termination Date. The Covered Executive shall also be entitled to business expenses incurred but unreimbursed as of the Employment Termination Date, earned but unpaid
bonuses, and other benefits accrued under the Company’s benefit plans as of the Employment Termination Date; provided that such amounts shall be paid to the Covered Executive in accordance with the applicable Company plan, program
or policy. 
 Section 3.02 Cash Benefits. Upon a Covered Executive’s Termination of Employment and the Covered
Executive’s satisfaction of the conditions specified in Section 3.05 of the Plan, the Covered Executive shall be entitled to receive the following Benefits, as well as the Benefits specified in Sections 3.03 and 3.04: 

(a) A lump sum cash severance payment equal to one times (in the case of the CEO, two
times) the sum of: (I) the Covered Executive’s Salary and (II) the average of the Annual Incentive Plan awards received by the Covered Executive for the three Fiscal Years for which his or her Annual Incentive Plan awards
were the highest of the last five Fiscal Years (or, if less, the number of Fiscal Years for which the Covered Executive has received Annual Incentive Plan awards); provided that, if Mr. Seifollah Ghasemi is terminated subsequent to 1 July
2017, the amount of the benefit to be paid under this subsection 3.02(a) shall be the amount determined under the Employment Agreement between Mr. Ghasemi and the Company entered as of 17 June 2014. 

(b) A lump sum cash payment which shall be equal to the product of: (I) the average of the Annual Incentive Plan awards
received by the Covered Executive for the three Fiscal Years for which his or her Annual Incentive Plan awards were the highest of the last five Fiscal Years (or, if less, the number of Fiscal Years for which the Covered Executive has received
Annual Incentive Plan awards) and (II) a fraction, the numerator of which is the number of days in the current Fiscal Year through the Covered Executive’s Employment Termination Date, and the denominator of which is 365. 

(c) (i) If the Covered Executive is a participant in the Pension Plans and is not a Core Contribution Participant under the Retirement Savings
Plan, a lump sum cash payment equal to the difference between the actuarial present values as of the Employment Termination Date of: 

(A) The Covered Executive’s accrued vested pension benefits under the Pension Plans, calculated assuming that payment of
the benefits will commence in the form of a straight life annuity on the earliest date on which the Covered Executive could 

  
 6 

 
commence payment if he or she is eligible for an early retirement subsidy on any portion of his or her accrued benefits on the Employment Termination Date, or on the first day of the month after
the Covered Executive attains age 65 if he or she is not; and 
 (B) The Covered Executive’s accrued vested
pension benefits under the Pension Plans calculated by adding one year (in the case of the CEO, two years) of service to the actual service credited under such plans for benefit accrual and vesting purposes and including any early retirement subsidy
available under the Pension Plans for which the Covered Executive is not eligible due to termination before satisfying age and service requirements for such subsidy, and assuming that the Covered Executive’s benefit will commence in the form of
a straight life annuity on the earliest date on which he or she could retire and commence a benefit under the Pension Plans. 
 For purposes
of calculating the actuarial present values of (A) and (B) above, the interest rate shall be the average of the average monthly yields for municipal bonds published monthly by Moody’s Investors’ Service Inc. for the three months
immediately preceding the Employment Termination Date and the life expectancy assumptions shall be those most frequently used by the Pension Plans’ actuaries for other purposes. The calculation of the pension payment described in this
subparagraph shall be made by a nationally recognized firm of enrolled actuaries acceptable to the Covered Executive and the Company. The Company shall pay the reasonable fees and expenses of such actuarial firm. The calculation made by such
actuarial firm shall be binding on the Covered Executive and the Company. 

  
 7 

 Section 3.03 (ii) If the Covered Executive is a Core Contribution Participant in the
Retirement Savings Plan, a lump sum cash payment (in lieu of the payment described in clause (i) above) equal to the Company Core Contributions and Core Credits (as defined in the Savings Plans) that the Covered Executive would have received
under the Savings Plans during the one-year period (in the case of the CEO, two-year period) following the Employment Termination Date assuming that (I) the Covered Executive remained actively employed by the Company during such period, (II)
the Covered Executive’s Salary continued at the higher of the rate in effect on the Employment Termination Date or the rate in effect immediately prior to any purported reduction in the Covered Executive’s Salary constituting Good Reason,
and (III) the Covered Executive’s Annual Incentive Plan awards were equal in amount to the higher of the most recent award received prior to the Employment Termination Date and the average of the awards available to the Covered Executive
under the Annual Incentive Plan during and/or for each of the three immediately preceding Fiscal Years; provided that the amount payable to the Covered Executive under this clause (c) shall in no event include any Company matching contributions
or credits on such Company Core Contributions or Core Credits. Non-Cash Benefits. In addition to the Benefits provided under Section 3.02, a Covered Executive shall receive, subject to the Covered Executive’s satisfaction of the
conditions specified in Section 3.05 of the Plan, the following additional benefits: 
 (a) If the Covered Executive is
covered under any of the Company’s group medical and dental plans as of the Employment Termination Date, and the Covered Executive is eligible for and timely elects continuation coverage under such plans pursuant to the Consolidated Omnibus
Budget Reconciliation Act of 1985 (“COBRA”), the Company will pay the cost of such COBRA coverage on behalf of the Covered Executive, and each of his dependents who were covered under such medical and dental plans as of the Employment
Termination Date and who are qualified beneficiaries under COBRA, for twelve months following the Employment Termination Date. Notwithstanding the preceding sentence, to the extent that any Covered Executive is eligible to commence retiree medical
benefits under the Company’s group medical plan on the Employment Termination Date, the preceding sentence shall not apply to such Covered Executive with respect to such plan and shall not affect the Covered Executive’s entitlement to
retiree medical benefits under the terms and conditions of such plan. 
 (b) Outplacement assistance at times and locations
that are convenient to the Covered Executive; provided that such outplacement services will be provided for a period of no more than 12 months following the Employment Termination Date. 

Section 3.04 Long-Term Incentive Plan Benefits. In addition to the Benefits payable under Sections 3.02 and 3.03, a Covered
Executive’s Long-Term Incentive Plan awards shall, subject to the Covered Executive’s satisfaction of the conditions specified in Section 3.05 of the Plan, be treated in accordance with this Section 3.04. 

(a) (i) All stock options and stock appreciation rights that are exercisable as of the Covered Executive’s Employment Termination Date
shall continue to be exercisable following such Employment Termination Date and shall remain exercisable for the remainder of the term applicable to the stock option or stock appreciation right. All stock options and stock appreciation rights that
are not exercisable as of the Covered Executive’s Employment Termination Date shall automatically terminate as of the Employment Termination Date. 

  
 8 

 (ii) All unearned performance shares and other awards with performance-based vesting shall vest
as of the Covered Executive’s Employment Termination Date in an amount to be determined by multiplying (A) the number of shares or units that would have been earned by the Covered Executive under each such award at the level of performance
determined by the Committee at the end of the applicable performance cycle for other senior executives of the Company by (B) a fraction, the numerator of which is the number of full months that have elapsed between the beginning of the
applicable performance period and the Covered Executive’s Employment Termination Date and the denominator of which is the number of full months in such performance period. Payments in respect of such vested awards shall be made within
30 days of the Committee’s decision, or, if later, as soon as permissible under Section 409A. 
 (iii) All
other awards, including deferred stock units (other than deferred stock units that vest under the Long-Term Incentive Plan or the applicable award agreement upon a Covered Executive’s death, disability or retirement) and restricted stock, that
are subject to time-based vesting or other non-performance based conditions shall vest as of the Covered Executive’s Employment Termination Date in an amount determined by multiplying (A) the number of shares or units that are subject to
the award by (B) a fraction, the numerator of which is the number of full months that shall have elapsed since the beginning of the applicable vesting period and the denominator of which is the number of full months in the vesting period.
Deferred stock units and restricted stock that become vested under the Long-Term Incentive Plan or applicable award agreement upon a Covered Executive’s death, disability or retirement shall become fully vested on the Covered Executive’s
Employment Termination Date. Payments in respect of such vested awards shall be made as soon as practicable after the Release Effective Date (as defined below) or, if later, as soon as permissible under Section 409A. 

(b) For purposes of this Section 3.04, fractional shares of Common Stock shall be rounded up to the next highest whole
share of stock. 
 (c) Notwithstanding anything herein to the contrary, the treatment of Long-Term Incentive Plan awards held
by a Covered Executive whose Termination of Employment is a Retirement (as defined in the Long-Term Incentive Plan) shall be determined under the Long-Term Incentive Plan and applicable award agreement (and not under this Section 3.04) to the
extent determined by the Committee on the Covered Executive’s Employment Termination Date to be more favorable to the Covered Executive. 

  
 9 

 (d) Notwithstanding anything herein to the contrary, in the event a Covered
Executive, other than the CEO, has an Employment Termination Date between 1 December 2013 and 31 January 2016, his outstanding Long-Term Incentive Plan awards shall be treated in accordance with the following: 

(i) All stock options and stock appreciation rights which are outstanding as of the Covered Executive’s Employment
Termination Date will immediately vest and shall be or become exercisable on the same terms as if the Covered Executive had remained actively employed by the Company following the Employment Termination Date for the full term; 

(ii) All outstanding unvested performance shares or other awards with performance-based vesting conditions shall vest as of the
Employment Termination Date and be earned at a level consistent with the earn out determination made on behalf of the Company for other senior executives for the relevant award cycle, and payments in respect of such awards shall be made at the end
of the deferral period for the awards under the terms of the award or, if later, as soon as permissible under Section 409A; 

(iii) All outstanding restricted stock shall immediately vest and the number of shares of restricted stock held by the Covered
Executive shall be reduced to satisfy any tax withholding obligations with respect to the vesting of the restricted stock; and all restrictions applicable to the remaining shares of restricted stock will lapse at the end of the Restriction Period
provided under the terms of the award; 
 (iv) All other outstanding awards, including career shares, deferred performance
shares and restricted stock units, that are subject to time-based vesting or other non-performance-based conditions, shall be fully vested as of the Employment Termination Date and payments in respect thereof shall be made at the time provided for
payment of vested awards under the terms of the award or, if later, as soon as permissible under Section 409A; 
 provided that, for
purposes of this subsection 3.04(d), Good Reason shall not include: 
 (i) a requirement by the Company that a Covered
Executive relocate his or her principal place of employment by more than fifty (50) miles from the location in effect immediately prior to the relocation; or 

(ii) a change in position, office, duties, reporting responsibilities, or authority of a Covered Executive if, in his new role,
the Covered Executive continues to perform a significant policy making function at the enterprise level for the Company and serve on the Corporate Executive Committee or any successor senior executive committee. 

Section 3.05 Conditions to Entitlement to Benefit. To be eligible to receive any Benefits under the Plan after the Covered
Executive’s Employment Termination Date has been set, a Covered Executive must (a) continue in his then current office and perform such duties for 

  
 10 

 
the Company as are typically related to the Covered Executive’s position (or such other position as the Board reasonably requests) including identifying, recruiting and/or transitioning the
Covered Executive’s successor, in all events performing all assigned duties in the manner reasonably directed by the CEO in his sole discretion, or if the CEO is the Covered Executive, by the Board in its sole discretion, and cease his
employment on the Employment Termination Date; (b) on or after the Employment Termination, but prior to the 30th day following the Employment Termination Date, execute and provide to the
Company a release and discharge of the Company from any and all claims, demands or causes of action, in such form as the Administrator shall determine, in his discretion, acting on behalf of the Company, and such release must not be revoked before
becoming effective and irrevocable (the date on which the release becomes effective and irrevocable shall be the “Release Effective Date”); and (c) prior to the Release Effective Date, execute a noncompetition, nonsolicitation, and
nondisparagement agreement that extends for the two-year period following the Covered Executive’s Employment Termination Date in substantially the form attached hereto as Exhibit B, with such changes therein as the Administrator shall
determine, in his discretion, acting on behalf of the Company. No Benefits due hereunder shall be paid to a Covered Executive who has not complied in all respects with the requirements of this Section 3.05. On or after the Release Effective
Date, the Company shall provide the Covered Executive with a release of claims against the Covered Executive. 
 Section 3.06 Method
of Payment. Benefits under the Plan shall be paid as follows: 
 (a) The cash Benefits determined pursuant to
Section 3.02 hereof shall be paid in a lump sum, subject to all employment and withholding taxes applicable to the type of payments made. Such payments shall be made as soon as practicable after the Covered Executive’s Release Effective
Date, or, if later, as soon as permissible under Section 409A. In the event the permitted time between the Employment Termination Date and the Release Effective Date could span two taxable years, payment will be made in the second taxable year.

 (b) The non-cash Benefits described in Section 3.03 shall be provided after the Employment Termination Date in
accordance with the applicable Company plan, program or policy or as permitted by Section 409A if later; 
 provided that
if the Covered Executive fails to comply with all of the conditions set forth in Section 3.05, the Covered Executive shall be required to repay to the Company in cash within five (5) business days after written demand is made therefor by
the Company, an amount equal to the value of any Benefit received under Section 3.03. 
 (c) Long-Term Incentive Plan
awards referred to in Section 3.04 will be paid on the later of the date contemplated under the applicable award agreement and the date (if any) provided for under Section 3.04; provided that payment shall be made in
accordance with the applicable award agreement to the extent required to avoid taxes or penalties under Section 409A. 

Section 3.07 Death or Disability. If a Covered Executive, incurs Disability or dies before the Employment Termination Date has
been set, no Plan payments or other benefits will be due and owing to the Covered Executive or, in the case of his death, to his estate or beneficiary. 

  
 11 

 If a Covered Executive incurs Disability or dies after his Employment Termination Date has been
set but not attained, the Administrator shall cause any Benefits due under the Plan to be paid to the Covered Executive or, in the case of his death, to the Covered Executive’s Designated Beneficiary as defined in the Long-Term Incentive Plan.

 Section 3.08 Change in Control. In the event of a Change in Control of the Company, the change in control agreement
applicable to the Covered Executive shall continue in full force and effect and the Plan shall be null and void; and, if the Change in Control occurs after the Employment Termination Date has been set but before the Employment Termination Date, the
change in control agreement applicable to the Covered Executive shall continue in full force and effect and the Employment Termination Date under the Plan shall be treated under the change in control agreement as the Covered Executive’s
“Termination Date” for other than death, “Disability” or “Cause”, as such terms appearing in quotations are defined in the change in control agreement, and the Plan shall be null and void. 

ARTICLE IV 
 ADMINISTRATION 

Section 4.01 Authority and Duties. It shall be the duty of the Administrator, on the basis of information supplied by the Company,
to determine the entitlement of each Covered Executive to Benefits under the Plan. The Administrator shall have the full power and authority to (a) determine whether a Covered Executive’s termination of employment with the Company
constitutes a Termination of Employment for purposes of the Plan and (b) construe, interpret and administer the Plan, to correct deficiencies therein, and to supply omissions. All decisions, actions, and interpretations of the Administrator
shall be final, binding, and conclusive upon the parties. The Committee may delegate to appropriate Company officers its authority and its duties as it shall deem appropriate in its sole discretion, and the actions of such person or persons shall
have the same force and effect as any action of the Committee in respect of the Plan (other than any action by such person or persons to delegate the Committee’s duties or authority hereunder); provided, however, that the Committee shall
approve the eligibility for Benefits. 
 Section 4.02 Expenses of the Administrator. All reasonable expenses of the
Administrator shall be paid or reimbursed by the Company upon proper documentation. The Company shall indemnify and defend the Administrator against personal liability for actions taken in good faith in the discharge of its duties hereunder. 

Section 4.03 Actions of the Administrator. Whenever a determination is required of the Administrator under the Plan, such
determination shall be made solely at the discretion of the Administrator. In addition, the exercise of discretion by the Administrator need not be uniformly applied to similarly situated Covered Executives and shall be final and binding on each
Covered Executive or beneficiary(ies) to whom the determination is directed. 

  
 12 

 ARTICLE V 

AMENDMENT AND TERMINATION 
 The
Company, acting through the Committee, retains the right, at any time and from time to time, to amend, suspend, or terminate the Plan in whole or in part, for any reason, and, except as provided below, without either the consent of or the prior
notification to any Covered Executive. Notwithstanding the foregoing and except as specifically provided under Section 7.12(d), no such amendment, suspension or termination shall (a) give the Company the right to recover any amount paid to
a Covered Executive prior to the date of such action, (b) cause the cessation and discontinuance of payments of Benefits to any person or persons under the Plan already receiving Benefits, or (c) be effective to terminate or reduce the
Benefits or prospective Benefits of any Covered Executive whose Employment Termination Date has been set as of the date of such amendment, suspension or termination (unless the express written consent of the Covered Executive has been obtained with
respect thereto). 
 ARTICLE VI 

DUTIES OF THE COMPANY 

Section 6.01 Records. The Company shall supply to the Administrator all records and information necessary to the performance of
the Administrator’s duties. 
 Section 6.02 Discretion. Any decisions, actions or interpretations to be made under the Plan
by the Board, the Committee, the Company, or the Administrator, acting on behalf of the Company, shall be made in its or their respective sole discretion, not in any fiduciary capacity and need not be uniformly applied to similarly situated
individuals and shall be final, binding and conclusive upon all parties. 
 ARTICLE VII 

MISCELLANEOUS 
 Section 7.01
Nonalienation of Benefits. None of the payments, Benefits or rights of any Covered Executive shall be subject to any claim of any creditor, and, in particular, to the fullest extent permitted by law, all such payments, Benefits and rights
shall be free from attachment, garnishment, trustee’s process, or any other legal or equitable process available to any creditor of such Covered Executive. No Covered Executive shall have the right to alienate, anticipate, commute, pledge,
encumber or assign any of the Benefits or payments which he may expect to receive, contingently or otherwise, under the Plan. 

Section 7.02 No Contract of Employment. Neither the establishment of the Plan, nor any modification thereof, nor the creation of
any fund, trust or account, nor the payment of any Benefits shall be construed as giving any Covered Executive, or any person whosoever, the right to be retained in the service of the Company, and all Covered Executives shall remain subject to
discharge to the same extent as if the Plan had never been adopted. 

  
 13 

 Section 7.03 Entire Agreement. Except as may be provided in a change in control
agreement that is in effect for a Covered Executive at the time of a Change in Control between the Company and a Covered Executive, this Plan document, as it may be amended by the Committee, and the documents specifically referenced herein, or in
such amendment, shall constitute the entire agreement between the Company and the Covered Executive with respect to the Benefits promised hereunder and no other agreements, representations, oral or otherwise, express or implied, with respect to such
Benefits or any severance benefits shall be binding on the Company; provided that the Employment Agreement entered as of 17 June 2014 between Air Products and Mr. Ghasemi shall remain effective and shall control to the extent treatment
under such agreement is more favorable to Mr. Ghasemi than under the Plan. 
 Section 7.04 Severability of Provisions. If
any provision of the Plan shall be held invalid or unenforceable, such invalidity or unenforceability shall not affect any other provisions hereof, and the Plan shall be construed and enforced as if such provisions had not been included. 

Section 7.05 Successors, Heirs, Assigns, and Personal Representatives. The Plan shall be binding upon the heirs, executors,
administrators, successors and assigns of the parties, including each Covered Executive, present and future. 
 Section 7.06
Headings and Captions. The headings and captions herein are provided for reference and convenience only, shall not be considered part of the Plan, and shall not be employed in the construction of the Plan. 

Section 7.07 Gender and Number. Except where otherwise clearly indicated by context, the masculine and the neuter shall include
the feminine and the neuter; the singular shall include the plural, and vice-versa. 
 Section 7.08 Unfunded Plan. The Plan
shall not be funded. The Company may, but shall not be required to, set aside or earmark an amount necessary to provide the Benefits specified herein (including the establishment of trusts). In any event, no Covered Executive shall have any right
to, or interest in, any assets of the Company. 
 Section 7.09 Payments to Incompetent Persons, Etc. Any Benefit payable to or
for the Benefit of a minor, an incompetent person or other person incapable of receipting therefor shall be deemed paid when paid to such person’s guardian or to the party providing or reasonably appearing to provide for the care of such
person, and such payment shall fully discharge the Company, the Administrator and all other parties with respect thereto. 

Section 7.10 Lost Payees. A Benefit shall be deemed forfeited if the Administrator is unable to locate a Covered Executive to whom
a Benefit is due. Such Benefit shall be reinstated if application is made by the Covered Executive for the forfeited Benefit while the Plan is in operation. 

Section 7.11 Controlling Law and Nature of Plan. The Plan shall be construed and enforced according to the laws of the
Commonwealth of Pennsylvania to the extent not preempted by Federal law. The Plan is not intended to be included in the definitions of “employee pension benefit plan” and “pension plan” set forth under Section 3(2) of the
Employee Retirement Income Security Act of 1974, as amended (“ERISA”). Rather, the Plan is 

  
 14 

 
intended to meet the descriptive requirements of a plan constituting a “severance pay plan” within the meaning of regulations published by the Secretary of Labor at Title 29, Code
of Federal Regulations, Section 2510.3-2(b). 
 Section 7.12 Section 409A. 

(a) It is intended that the provisions of this Plan comply with Section 409A, and all provisions of this Plan shall be
construed and interpreted in a manner consistent with the requirements for avoiding taxes or penalties under Section 409A. 

(b) Neither the Covered Executive nor any of the Covered Executive’s creditors or beneficiaries shall have the right to
subject any deferred compensation (within the meaning of Section 409A) payable under this Plan or under any other plan, policy, arrangement or agreement of or with the Company or any of its affiliates (this Plan and such other plans, policies,
arrangements and agreements, the “Company Plans”) to any anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment or garnishment. Except as permitted under Section 409A, any deferred compensation (within
the meaning of Section 409A) payable to the Covered Executive or for the Covered Executive’s benefit under any Company plan may not be reduced by, or offset against, any amount owing by the Covered Executive to the Company or any of its
affiliates. 
 (c) If, at the time of the Covered Executive’s separation from service (within the meaning of
Section 409A), (i) the Covered Executive shall be a specified employee (within the meaning of Section 409A and using the indemnification methodology selected by the Company from time to time) and (ii) the Company shall make a
good faith determination that an amount payable under a Company Plan constitutes deferred compensation (within the meaning of Section 409A) the payment of which is required to be delayed pursuant to the six-month delay rule as set forth in
Section 409A in order to avoid taxes or penalties under Section 409A, then the Company shall not pay such amount on the otherwise scheduled payment date but shall instead accumulate such amount and pay it, without interest, on the first
business day after such six-month period. 
 (d) Notwithstanding any provision of this Plan or any Company Plan to the
contrary, , the Company reserves the right to make amendments to this Plan and any Company plan as the Company deems necessary or desirable to avoid the imposition of taxes or penalties under Section 409A. In any case, the Covered Executive is
solely responsible and liable for the satisfaction of all taxes and penalties that may be imposed on the Covered Executive for the Covered Executive’s account in connection with any Company Plan (including any taxes and penalties under
Section 409A), and neither the Company nor any affiliate shall have any obligation to indemnify or otherwise hold the Covered Executive harmless from any or all of such taxes or penalties. 

  
 15 

 EXHIBIT A 

COVERED EXECUTIVES 
 M. Scott
Crocco 
 Seifollah Ghasemi 
 Guillermo Novo 

Corning F. Painter 
 John D. Stanley 

  
 16 

 EXHIBIT B 

NONCOMPETITION, NONSOLICITATION, AND 

NONDISPARAGEMENT AGREEMENT 

I,                      (the
“Executive”), for and in consideration of (a) certain severance benefits to be paid and provided to me by Air Products and Chemicals, Inc. (the “Company”) under the Air Products and Chemicals, Inc. Executive Separation
Program (the “Plan”), and (b) the Company’s execution of a release in favor of the Executive, I, the Executive, hereby covenant and agree as follows: 

1. The Executive acknowledges that the Company is generally engaged in business throughout the world. During the Executive’s employment by
the Company and for two years after the Executive’s Employment Termination Date (as defined in the Plan), the Executive agrees that he will not, unless acting with the prior written consent of the Company, directly or indirectly, own, manage,
control, or participate in the ownership, management or control of, or be employed or engaged by, or be otherwise affiliated or associated with, as an officer, director, employee, consultant, independent contractor or otherwise: (a) any person
who is engaged, in any manner anywhere, in any business which, as of the Employment Termination Date, is engaged in by the Company or has been reviewed with the Board for development to be owned or managed by the Company (together “competitive
businesses”), or (b) any person who has an ownership interest in a competitive business or an affiliate of such a person. Executive’s passive ownership of not more than 5% of the equity of a publicly traded entity shall not be deemed
to be a violation of this paragraph. 
 2. The Executive also agrees that he will not, directly or indirectly, during the period described
in paragraph (1), induce any person who is an employee, officer, director, or agent of the Company, to terminate such relationship, or employ, assist in employing or otherwise be associated in business with any present or former employee or
officer of the Company, including without limitation those who commence such positions with the Company after the Employment Termination Date. 

3. For the purposes of this Agreement: 

(a) the term “Company” shall be deemed to include Air Products and Chemicals, Inc. and the subsidiaries and
affiliates of Air Products and Chemicals, Inc. 
 (b) the term “person” shall include an individual, a
publicly-traded or privately-held corporation or equivalent thereof under foreign law, a partnership, an association, a joint stock company, a trust, any unincorporated association, or any business organization; and may include an affiliate of the
Company. 
 (c) the term “affiliate” of a specified person shall mean any corporation, partnership, joint venture, business
organization, trust, or other non-natural person in which the specified person directly or indirectly holds an interest, which is under common control with the specified person, or of which the specified person is an executive officer, manager,
trustee, executor, or similar controlling person. 

  
 17 

 4. The Executive acknowledges and agrees that the restrictions contained in this Agreement are
reasonable and necessary to protect and preserve the legitimate interests, properties, goodwill and business of the Company, that the Company would not have entered into this Agreement in the absence of such restrictions and that irreparable injury
will be suffered by the Company should the Executive breach the provisions of this Section. The Executive represents and acknowledges that (a) the Executive has been advised by the Company to consult the Executive’s own legal counsel in
respect of this Agreement, (b) the Executive has consulted with and been advised by his own counsel in respect of this Agreement, and (c) the Executive has had full opportunity, prior to execution of this Agreement, to review thoroughly
this Agreement with the Executive’s counsel. 
 5. The Executive further acknowledges and agrees that a breach of the restrictions in
this Agreement will not be adequately compensated by monetary damages. The Executive agrees that the Company shall be entitled to (a) preliminary and permanent injunctive relief, without the necessity of proving actual damages, or posting of a
bond, (b) an equitable accounting of all earnings, profits and other benefits arising from any violation of this Agreement, and (c) enforce the terms, including requiring forfeitures, under other plans, programs and agreements under which
the Executive has been granted a benefit contingent on a covenant similar to those contained in this Agreement, which rights shall be cumulative and in addition to any other rights or remedies to which the Company may be entitled. In the event that
the provisions of this Agreement should ever be adjudicated to exceed the limitations permitted by applicable law in any jurisdiction, it is the intention of the parties that the provision shall be amended to the extent of the maximum limitations
permitted by applicable law, that such amendment shall apply only within the jurisdiction of the court that made such adjudication and that the provision otherwise shall be enforced to the maximum extent permitted by law. 

6. If the Executive breaches his obligations under this Agreement, he agrees that suit may be brought, and that he consents to personal
jurisdiction, in the United States District Court for the Eastern District of Pennsylvania, or in any court of general jurisdiction in Allentown, Pennsylvania; consents to the non-exclusive jurisdiction of any such court in any such suit, action or
proceeding; and waives any objection which he may have to the laying of venue of any such suit, action or proceeding in any such court. The Executive also irrevocably and unconditionally consents to the service of any process, pleadings, notices, or
other papers with respect thereto. EACH PARTY HERETO IRREVOCABLY AGREES TO WAIVE TRIAL BY JURY IN ANY ACTION, PROCEEDING, CLAIM, OR COUNTERCLAIM BROUGHT BY OR ON BEHALF OF ANY PARTY RELATED TO OR ARISING OUT OF THIS NONCOMPETITION AGREEMENT. 

7. Executive further agrees, covenants, and promises that he will not in any way communicate the terms of this Agreement to any person other
than his immediate family and his attorney and financial consultant or when necessary to advise a third party of his obligations under this Agreement. Notwithstanding the foregoing, the Company and Executive also agree that for a period of two years
following the Employment Termination Date, Executive will provide and that at all times after the date hereof the Company may similarly provide, with prior written notice to Executive, a copy of this Agreement to any business or enterprise
(a) which Executive may directly or indirectly own, manage, operate, finance, join, control or of which he may participate in the ownership, management, operation, financing, or control, or (b) with

  
 18 

 
which Executive may be connected as an officer, director, employee, partner, principal, agent, representative, consultant, or otherwise, or in connection with which Executive may use or permit to
be used Executive’s name. Executive agrees not to disparage the name, business reputation, or business practices of the Company or its subsidiaries or affiliates, or its or their officers, employees, or directors, and the Company agrees not to
disparage the name or business reputation of Executive. 
 8. The Executive hereby expressly acknowledges and agrees that (a) the
provisions of the Employee Patent and Confidential Information Agreement entered into by him on                     , shall continue to apply
in accordance with its terms, and (b) the provisions of the Executive’s outstanding incentive award agreements granted under the Company’s Long-Term Incentive Plan, as defined in the Plan, shall continue to apply in accordance with
their terms except as otherwise provided in Section 3.04 of the Plan. 
 9. No failure or delay on the part of the Company in
exercising any power or right hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power preclude any further or other exercise thereof or the exercise of any other right or power hereunder. No
modification or waiver of any provision of this Agreement or consent to any departure by any party therefrom shall in any event be effective until the same shall be in writing and then such waiver or consent shall be effective only in the specific
instance and for the purpose for which given. No notice to or demand on any party in any case shall entitle such party to any other or further notice or demand in similar or other circumstances. 

10. Notices under this Agreement shall be in writing and sent via overnight mail as follows: 

 

									
	 To:
	 	Company’s General Counsel	  		 		 	To:    Executive
		 	7201 Hamilton Boulevard	  		 		 	
		 	Allentown, PA 18195-1501	  		 		 	

 11. This Agreement shall be governed by and construed in accordance with the laws of the Commonwealth of
Pennsylvania without reference to its principles of conflict of law. This Agreement shall extend to and enure to the benefit of the respective successors and assigns of the Company. 

Intending to be legally bound hereby, I execute the Noncompetition, Nonsolicitation, and Nondisparagement Agreement this
         day of             , 20    . 

 

					
	  

Witness
	 		 	  
 Executive

  
 19

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00247-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00247-of-00352.parquet"}]]