Document:

EX-10.14

 Exhibit 10.14 

PQ GROUP HOLDINGS INC. 

2017 OMNIBUS INCENTIVE PLAN 

1. Purpose. The purpose of the PQ Group Holdings Inc. 2017 Omnibus Incentive Plan is to further align the interests of Eligible
Persons with those of the Company’s stockholders by providing long-term cash and equity incentive compensation opportunities tied to the performance of the Company and/or its Common Stock. The Plan is intended to advance the interests of the
Company and increase stockholder value by attracting, retaining and motivating key personnel upon whose judgment, initiative and effort the successful conduct of the Company’s business is largely dependent. 

2. Definitions. Wherever the following capitalized terms are used in the Plan, they shall have the meanings specified below: 

“Award” means an award of Stock Options, Stock Appreciation Rights, a Restricted Stock Award, Restricted Stock Units, a Cash
Award, a Performance Award or a Stock Award granted under the Plan. 
 “Award Agreement” means a notice or an agreement
entered into between the Company and a Participant setting forth the terms and conditions of an Award granted to a Participant as provided in Section 15.2 hereof. 

“Beneficial Owner” shall have the meaning ascribed to such term in Rule 13d-3 under
the Exchange Act. 
 “Board” means the Board of Directors of the Company. 

“Cash Award” means an Award denominated in cash that is granted to an Eligible Person under Section 10 hereof and
subject to such conditions as are set forth in the Plan and the applicable Award Agreement. 
 “Cause” shall have the
meaning set forth in Section 13.2 hereof. 
 “Change in Control” shall have the meaning set forth in
Section 12.2 hereof. 
 “Code” means the Internal Revenue Code of 1986, as amended. 

“Committee” means (i) the Compensation Committee of the Board, (ii) as provided in Section 3.1 hereof, such
other committee of the Board appointed by the Board to administer the Plan, (iii) as provided in Section 3.1 hereof, the full Board, or (iv) as provided in Section 3.3 hereof, its delegates. 

“Common Stock” means the Company’s common stock, par value $0.01 per share, as the same may be reclassified, exchanged
or recapitalized. 
 “Company” means PQ Group Holdings Inc., a Delaware corporation or any successor thereto. 

 “Date of Grant” means the date on which an Award under the Plan is granted or
approved for grant by the Committee or such later date as the Committee may specify to be the effective date of an Award. 

“Disability” shall have the meaning set forth below, except with respect to any Participant who has an effective employment
agreement or service agreement with the Company or one of its Subsidiaries that defines “Disability” or a like term, in which event the definition of “Disability” as set forth in such agreement shall be deemed to be the
definition of “Disability” herein solely for such Participant and only for so long as such agreement remains effective. In all other events, the term “Disability” shall mean a Participant’s inability to perform the essential
duties, responsibilities and functions of such Participant’s position with the Company and its Subsidiaries for a period of ninety (90) consecutive days or for a total of one hundred and eighty (180) days during any twelve (12)-month
period as a result of any mental or physical illness, disability or incapacity even with reasonable accommodations for such illness, disability or incapacity provided by the Company and its Subsidiaries or if providing such accommodations would be
unreasonable and which condition is expected to last for a continuous period of not less than twelve (12) months, all as determined by the Committee in its reasonable good faith judgment. A Participant shall cooperate in all respects with the
Company if a question arises as to whether he or she has become disabled (including, without limitation, submitting to reasonable examinations by one or more medical doctors and other health care specialists selected by the Company and authorizing
such medical doctors and other health care specialists to discuss the Participant’s condition with the Company). Notwithstanding anything to the contrary contained herein, and solely for purposes of any Incentive Stock Option,
“Disability” shall mean a permanent and total disability (within the meaning of Section 22(e)(3) of the Code). 

“Effective Date” shall have the meaning set forth in Section 16.1 hereof. 

“Eligible Person” means any person who is an employee, Non-Employee Director,
consultant or other personal service provider of the Company or any of its Subsidiaries. 
 “Exchange Act” means the
Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder from time to time. 
 “Fair Market
Value” means, with respect to a share of Common Stock as of a given date of determination hereunder, the average of the high and low trading prices for such shares as reported on the principal exchange (including NYSE) on which the Common
Stock is then listed on the trading day immediately preceding the date as of which such Fair Market Value is determined, or if the Common Stock was not traded on such date, then on the next preceding trading day that the Common Stock was traded on
such exchange, as reported by such responsible reporting service as the Committee may select. If the Common Stock is not listed on any such exchange, “Fair Market Value” shall be such value as determined by the Board or the Committee in
its discretion and, to the extent necessary, shall be determined in a manner consistent with Section 409A of the Code and the regulations thereunder. 

“Incentive Stock Option” means a Stock Option granted under Section 6 hereof that is intended to meet the requirements
of Section 422 of the Code and the regulations thereunder. 

  
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 “Non-Employee Director” means a
member of the Board who is not an employee of the Company or any of its Subsidiaries. 
 “Nonqualified Stock Option” means
a Stock Option granted under Section 6 hereof that is not an Incentive Stock Option. 
 “NYSE” means the New York
Stock Exchange. 
 “Participant” means any Eligible Person who holds an outstanding Award under the Plan. 

“Performance Award” means an Award that is payable based on or conditioned upon the attainment of pre-established business and/or individual Performance Goals over a specified performance period and subject to such conditions as are set forth in the Plan and the applicable Award Agreement (including a
Performance Stock Unit) and that is intended to qualify as “performance-based compensation” under Section 162(m) of the Code. 

“Performance-Based Exception” means the performance-based exception from the tax deductibility limitations of
Section 162(m) of the Code. 
 “Performance Criteria” shall have the meaning set forth in Section 10.3 hereof.

 “Performance Goals” shall have the meaning set forth in Section 10.4 hereof. 

“Performance Stock Unit” means a Restricted Stock Unit denominated as a Performance Stock Unit under Section 9.2 hereof,
to be paid or distributed based on or conditioned upon the attainment of pre-established business and/or individual Performance Goals over a specified performance period. 

“Person” shall have the meaning ascribed to such term in Section 3(a)(9) of the Exchange Act and used in Sections 13(d)
and 14(d) thereof, including a “group” as defined in Section 13(d) thereof. 
 “Plan” means the PQ Group
Holdings Inc. 2017 Omnibus Incentive Plan as set forth herein, effective and as may be amended from time to time as provided herein. 

“Public Offering” means the sale of shares of the Common Stock to the public pursuant to an effective registration statement
(other than a registration statement on Form S-4 or S-8 or any similar or successor form) filed under the Securities Act in connection with an underwritten
offering. 
 “Restricted Stock Award” means a grant of shares of Common Stock to an Eligible Person under Section 8
hereof that are issued subject to such vesting and transfer restrictions as the Committee shall determine, and such other conditions, as are set forth in the Plan and the applicable Award Agreement. 

“Restricted Stock Unit” means an unfunded and unsecured contractual right granted to an Eligible Person under Section 9
hereof, denominated in Common Stock, and 

  
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representing the right to be paid cash or distributed Common Stock measured by the value of a share of Common Stock in the future, at such times, and subject to such conditions, as are set forth
in the Plan and the applicable Award Agreement. 
 “Securities Act” means the Securities Act of 1933, as amended, and the
rules and regulations promulgated thereunder from time to time. 
 “Service” means a Participant’s employment with the
Company or any Subsidiary or a Participant’s service as a Non-Employee Director, consultant or other service provider with the Company or any Subsidiary, as applicable. Subject to Section 15.8 of
this Plan, and unless the Committee expressly provides otherwise, (a) Service will be deemed to continue so long as the Participant is employed by, or otherwise is providing services as a Non-Employee
Director, consultant or other service provider with the Company or any Subsidiary, and (b) if a Participant’s Service relationship is with any Subsidiary and that entity ceases to be a Subsidiary, the Participant’s Service will be
deemed to have terminated when the entity ceases to be a Subsidiary unless the Participant transfers Service to the Company or any remaining Subsidiary. 

“Stock Appreciation Right” means a contractual right granted to an Eligible Person under Section 7 hereof entitling such
Eligible Person to receive a payment, representing the excess of the Fair Market Value of a share of Common Stock over the base price per share of the right, at such time, and subject to such conditions, as are set forth in the Plan and the
applicable Award Agreement. 
 “Stock Award” means a grant of shares of Common Stock to an Eligible Person under
Section 11 hereof that are issued free of transfer restrictions and forfeiture conditions. 
 “Stock Option” means a
contractual right granted to an Eligible Person under Section 6 hereof to purchase shares of Common Stock at such time and price, and subject to such conditions, as are set forth in the Plan and the applicable Award Agreement. 

“Subsidiary” means an entity (whether or not a corporation) that is wholly or majority owned or controlled, directly
or indirectly, by the Company or any other affiliate of the Company that is so designated, from time to time, by the Committee, during the period of such affiliated status; provided, however, that with respect to Incentive Stock
Options, the term “Subsidiary” shall include only an entity that qualifies under Section 424(f) of the Code as a “subsidiary corporation” with respect to the Company. 

3. Administration. 

3.1 Committee Members. The Plan shall be administered by the Committee. To the extent deemed necessary by the Board, the
Committee will be comprised of no fewer than two members of the Board who are appointed by the Board to administer the Plan and who each satisfy the requirements for (i) an “independent director” under rules adopted by NYSE or other
principal exchange on which the Common Stock is then listed, (ii) a “nonemployee director” for purposes of such Rule 16b-3 under the Exchange Act and (iii) an “outside director”
under Section 162(m) of the Code. Notwithstanding the foregoing, the mere fact that a Committee member shall fail to qualify under any of the foregoing requirements shall not 

  
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invalidate any Award made by the Committee which Award is otherwise validly made under the Plan. Neither the Company nor any member of the Committee shall be liable for any action or
determination made in good faith by the Committee with respect to the Plan or any Award thereunder. The Board shall have the authority to execute the powers of the Committee under the Plan. 

3.2 Committee Authority. The Committee shall have all powers and discretion necessary or appropriate to administer the Plan
and to control its operation, including, but not limited to, the power to (i) determine the Eligible Persons to whom Awards shall be granted under the Plan and to grant Awards, (ii) prescribe the restrictions, terms and conditions of all
Awards, (iii) determine the form of settlement of Awards in cash, common stock, other property or a combination thereof, (iv) interpret the Plan and terms of the Awards, (v) adopt rules for the administration, interpretation and
application of the Plan as are consistent therewith, and interpret, amend or revoke any such rules, (vi) make all determinations with respect to a Participant’s Service and the termination of such Service for purposes of any Award,
(vii) correct any defect(s) or omission(s) or reconcile any ambiguity(ies) or inconsistency(ies) in the Plan or any Award thereunder, (viii) make all determinations it deems advisable for the administration of the Plan; (ix) to decide
all disputes arising in connection with the Plan and to otherwise supervise the administration of the Plan; (x) subject to the terms of the Plan, amend the terms of an Award in any manner that is not inconsistent with the Plan,
(xi) accelerate the vesting or, to the extent applicable, exercisability of any Award at any time (including, but not limited to, upon a Change in Control or upon termination of Service under certain circumstances, as set forth in the Award
Agreement or otherwise), and (xii) adopt such procedures and subplans as are necessary or appropriate to permit participation in the Plan by Eligible Person who are foreign nationals or employed outside of the United States. The
Committee’s determinations under the Plan need not be uniform and may be made by the Committee selectively among Participants and Eligible Persons, whether or not such persons are similarly situated. The Committee shall, in its discretion,
consider such factors as it deems relevant in making its interpretations, determinations and actions under the Plan including, without limitation, the recommendations or advice of any officer or employee of the Company or such attorneys,
consultants, accountants or other advisors as it may select. All interpretations, determinations, and actions by the Committee shall be final, conclusive, and binding upon all parties. 

3.3 Delegation of Authority. The Committee shall have the right, from time to time, to delegate in writing to one or more
of its members, members of the Board, or officers of the Company the authority of the Committee to grant and determine the terms and conditions of Awards granted under the Plan, subject to any applicable laws. In no event shall any such delegation
of authority be permitted with respect to Awards granted to any member of the Board or to any Eligible Person who is subject to Rule 16b-3 under the Exchange Act or is a covered employee under
Section 162(m) of the Code (as determined in accordance with applicable guidance as of the applicable date of determination). The Committee shall also be permitted to delegate, to any appropriate officer or employee of the Company,
responsibility for performing certain ministerial functions under the Plan. In the event that the Committee’s authority is delegated to members of the Board, officers, or employees in accordance with the foregoing, all provisions of the Plan
relating to the Committee shall be interpreted in a manner consistent with the foregoing by treating any such reference as a reference to such officer or employee for such purpose. Any action undertaken in accordance with the Committee’s
delegation of authority 

  
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hereunder shall have the same force and effect as if such action was undertaken directly by the Committee and shall be deemed for all purposes of the Plan to have been taken by the Committee.

 4. Shares Subject to the Plan. 

4.1 Number of Shares Reserved. Subject to adjustment as provided in Section 4.5 hereof, the total number of shares of
Common Stock that are reserved for issuance under the Plan shall be                  shares of Common Stock plus any shares remaining available for grant under
the PQ Group Holdings Inc. Stock Incentive Plan (the “SIP”) at the time this Plan is approved (collectively, the “Share Reserve”). The maximum number of shares of Common Stock that may be issued in satisfaction of
Incentive Stock Options under the Plan is                  shares. Upon approval of this Plan, no further awards may be made under the SIP. Each share
of Common Stock subject to an Award shall reduce the Share Reserve by one share; provided that Awards that are required to be paid in cash pursuant to their terms shall not reduce the Share Reserve. Any shares of Common Stock delivered under the
Plan shall consist of authorized and unissued shares or treasury shares. 
 4.2 Share Replenishment. To the extent that
an Award granted under this Plan is canceled, expired, forfeited, surrendered, settled by delivery of fewer shares than the number underlying the Award, settled in cash, or otherwise terminated without delivery of the shares to the Participant, the
shares of Common Stock retained by or returned to the Company will (i) not be deemed to have been delivered under the Plan, (ii) be available for future Awards under the Plan, and (iii) increase the Share Reserve by one share for each
share that is retained by or returned to the Company. Shares that are (x) withheld from an Award in payment of the exercise or purchase price or taxes relating to such an Award or (y) not issued or delivered as a result of the net
settlement of an outstanding Stock Option or Stock Appreciation Right will (i) not be deemed to have been delivered under the Plan, (ii) be available for future Awards under the Plan, (iii) increase the Share Reserve by one Share for
each Share that is retained by or returned to the Company, and (iv) continue to be counted as outstanding for purposes of determining whether any of the Award limits specified in Section 4.3 or 4.4 have been attained. In addition to the
foregoing, any shares that become available for issuance pursuant to Section 4.2 of the SIP as a result of the forfeiture, cancellation or termination for no consideration of an award under the SIP will (i) not be available for future
awards under the SIP, (ii) be available for future Awards under this Plan, and (iii) increase the Share Reserve by one share for each share that is retained by or returned to the Company, subject to a maximum
of                  shares (subject to adjustment pursuant to Section 4.5). 

4.3 Non-Cash Awards Granted to Eligible Persons Other Than
Non-Employee Directors. The maximum number of shares of Common Stock that may be subject to each Award type that is granted to an Eligible Person other than a
Non-Employee Director during any calendar year shall be limited as follows (subject to adjustment as provided in Section 4.5 hereof):
(i)             shares of Common Stock subject to Stock Options, (ii)             shares of Common Stock subject to
Stock Appreciation Rights, (iii)             shares of Common Stock subject to Restricted Stock Awards that vest in full or in part based on the attainment of Performance Goals,
(iv)             shares of Common Stock subject to Restricted Stock Awards that vest in full or in part based on continued employment over a stated period of time,
(v)             

  
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shares of Common Stock subject to Restricted Stock Units that vest in full or in part based on the attainment of Performance Goals,
(vi)             shares of Common Stock subject to Restricted Stock Units that vest in full or in part based on continued employment over a stated period of time and
(v)         shares of Common Stock subject to Stock Awards. If an Award is settled in cash, the number of shares of Common Stock on which the Award is based shall not count toward the individual share
limit set forth in this Section 4.3, but shall count against the annual Cash Performance Award limit set forth in Section 10.6. 

4.4 Non-Cash Awards Granted to Non-Employee
Directors. The maximum number of shares of Common Stock that may be subject to Stock Options, Stock Appreciation Rights, Restricted Stock Awards, Restricted Stock Units and Stock Awards granted to any
Non-Employee Director during any calendar year shall be limited to                  shares of Common Stock for all such
Award types in the aggregate (subject to adjustment as provided in Section 4.5 hereof). If an Award is settled in cash, the number of shares of Common Stock on which the Award is based shall not count toward the individual share limit set forth
in this Section 4.4 but shall count against the annual Cash Performance Award limit set forth in Section 10.6. 

4.5 Adjustments. If there shall occur any change with respect to the outstanding shares of Common Stock by reason of any
recapitalization, reclassification, stock dividend, extraordinary cash dividend, stock split, reverse stock split or other distribution with respect to the shares of Common Stock or any merger, reorganization, consolidation, combination, spin-off, stock purchase or other similar corporate change or any other change affecting the Common Stock (other than regular cash dividends to shareholders of the Company), the Committee shall, in the manner and to
the extent it considers appropriate and equitable to the Participants and consistent with the terms of the Plan, cause an adjustment to be made to (i) the maximum number and kind of shares of Common Stock provided in Sections 4.1, 4.3 and
4.4 hereof (including the maximum number of shares of Common Stock that may become payable to a Participant provided in Sections 4.3 and 4.4 hereof), (ii) the number and kind of shares of Common Stock, units or other rights subject to then
outstanding Awards, (iii) the exercise or base price for each share or unit or other right subject to then outstanding Awards, (iv) the maximum amount that may become payable to a Participant under Cash Awards provided in Section 10.6
hereof, and (v) any other terms of an Award that are affected by the event. Notwithstanding the foregoing, any such adjustments shall be made with due regard for the requirements of Section 409A of the Code, the performance-based
compensation rules of Section 162(m) of the Code, and the qualification of Incentive Stock Options under Section 424(a) of the Code, to the extent applicable. 

5. Eligibility and Awards. 

5.1 Designation of Participants. Any Eligible Person may be selected by the Committee to receive an Award and become a
Participant. The Committee has the authority, in its discretion, to determine and designate from time to time those Eligible Persons who are to be granted Awards, the types of Awards to be granted, the number of shares of Common Stock or units
subject to Awards to be granted and the terms and conditions of such Awards consistent with the terms of the Plan, and to grant any such Awards. In selecting Eligible Persons to be Participants, and in determining the type and amount of Awards to be
granted under the Plan, the Committee shall consider any and all factors that it deems relevant or appropriate. Designation 

  
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of a Participant in any year shall not require the Committee to designate such person to receive an Award in any other year or, once designated, to receive the same type or amount of Award as
granted to such Participant in any other year. 
 5.2 Determination of Awards. The Committee shall determine the terms
and conditions of all Awards granted to Participants in accordance with its authority under Section 3.2 hereof. An Award may consist of one type of right or benefit hereunder or of two or more such rights or benefits granted in tandem. 

5.3 Award Agreements. Each Award granted to an Eligible Person shall be represented by an Award Agreement. The terms of all
Awards under the Plan, as determined by the Committee, will be set forth in each individual Award Agreement as described in Section 15.2 hereof. 

6. Stock Options. 

6.1 Grant of Stock Options. A Stock Option may be granted to any Eligible Person selected by the Committee, except that an
Incentive Stock Option may only be granted to an Eligible Person satisfying the conditions of Section 6.7(a) hereof. Each Stock Option shall be designated on the Date of Grant, in the discretion of the Committee, as an Incentive Stock Option or
as a Nonqualified Stock Option. To the extent a Stock Option is not so designated, it shall be treated for all purposes as a Nonqualified Stock Option. 

6.2 Exercise Price. The exercise price per share of a Stock Option shall not be less than one hundred percent (100%) of the
Fair Market Value of a share of Common Stock on the Date of Grant. The Committee may in its discretion specify an exercise price per share that is higher than the Fair Market Value of a share of Common Stock on the Date of Grant. 

6.3 Vesting of Stock Options. The Committee shall, in its discretion, prescribe the time or times at which or the
conditions upon which, a Stock Option or portion thereof shall become vested and/or exercisable. The requirements for vesting and exercisability of a Stock Option may be based on the continued Service of the Participant with the Company or a
Subsidiary for a specified time period (or periods), on the attainment of a specified Performance Goal(s) or on such other terms and conditions as approved by the Committee in its discretion, all as set forth in the Award Agreement. If the vesting
requirements of a Stock Option are not satisfied, the Award shall be forfeited. 
 6.4 Term of Stock Options. The
Committee shall in its discretion prescribe in an Award Agreement the period during which a vested Stock Option may be exercised; provided, however, that the maximum term of a Stock Option shall be ten (10) years from the Date of
Grant. The Committee may provide that a Stock Option will cease to be exercisable upon or at the end of a specified time period following a termination of Service for any reason as set forth in the Award Agreement or otherwise. Subject to
Section 409A of the Code and the provisions of this Section 6, the Committee may extend at any time the period in which a Stock Option may be exercised. 

6.5 Stock Option Exercise; Tax Withholding. Subject to such terms and conditions as specified in an Award Agreement, a
Stock Option may be exercised in whole or in part at any 

  
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time during the term thereof by notice in the form required by the Company, together with payment of the aggregate exercise price and applicable withholding tax. Payment of the exercise price may
be made: (i) in cash or by cash equivalent acceptable to the Committee or (ii) to the extent permitted by the Committee in its sole discretion and set forth in the Award Agreement or otherwise (including by a policy or resolution of the
Committee), (A) in shares of Common Stock valued at the Fair Market Value of such shares on the date of exercise, (B) through an open-market, broker-assisted sales transaction pursuant to which the Company is promptly delivered the amount of
proceeds necessary to satisfy the exercise price, (C) by reducing the number of shares of Common Stock otherwise deliverable upon the exercise of the Stock Option by the number of shares of Common Stock having a Fair Market Value on the date of
exercise equal to the exercise price, (D) by a combination of the methods described above or (E) by such other method as may be approved by the Committee and set forth in the Award Agreement. In addition to and at the time of payment of
the exercise price, the Participant shall pay to the Company the full amount of any and all applicable income tax, employment tax and other amounts required to be withheld in connection with such exercise, payable under such of the methods described
above for the payment of the exercise price as may be approved by the Committee and set forth in the Award Agreement. 
 6.6 Limited
Transferability of Nonqualified Stock Options. All Nonqualified Stock Options shall be exercisable during the Participant’s lifetime only by the Participant or by the Participant’s guardian or legal representative. The
Nonqualified Stock Options and the rights and privileges conferred thereby shall be nontransferable except as otherwise provided in Section 15.3 hereof. 

6.7 Additional Rules for Incentive Stock Options. 

(a) Eligibility. An Incentive Stock Option may only be granted to an Eligible Person who is considered an employee for
purposes of Treasury Regulation §1.421-1(h) with respect to the Company or any Subsidiary that qualifies as a “subsidiary corporation” with respect to the Company for purposes of
Section 424(f) of the Code. 
 (b) Annual Limits. No Incentive Stock Option shall be granted to a Participant as a
result of which the aggregate Fair Market Value (determined as of the Date of Grant) of the Common Stock with respect to which Incentive Stock Options under Section 422 of the Code are exercisable for the first time in any calendar year under
the Plan and any other stock option plans of the Company or any subsidiary or parent corporation, would exceed $100,000, determined in accordance with Section 422(d) of the Code. This limitation shall be applied by taking such Incentive Stock
Options into account in the order in which they were granted. 
 (c) Additional Limitations. In the case of any Incentive
Stock Option granted to an Eligible Person who owns, either directly or indirectly (taking into account the attribution rules contained in Section 424(d) of the Code), stock possessing more than ten percent (10%) of the total combined voting
power of all classes of stock of the Company or any Subsidiary, the exercise price shall not be less than one hundred ten percent (110%) of the Fair Market Value of a share of Common Stock on the Date of Grant and the maximum term shall be five
(5) years. 

  
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 (d) Termination of Employment. An Award of an Incentive Stock Option may
provide that such Stock Option may be exercised not later than (i) three (3) months following termination of employment of the Participant with the Company and all Subsidiaries (other than as set forth in clause (ii) of this
Section 6.7(d)) or (ii) one year following termination of employment of the Participant with the Company and all Subsidiaries due to death or permanent and total disability within the meaning of Section 22(e)(3) of the Code, in each
case as and to the extent determined by the Committee to comply with the requirements of Section 422 of the Code. 
 (e) Other
Terms and Conditions; Nontransferability. No Incentive Stock Options granted under the Plan may be granted more than ten (10) years following the date that the Plan is adopted or the date that the Plan is approved by the
Company’s stockholders, whichever is earlier. The Award Agreement representing any Incentive Stock Option granted hereunder shall contain such additional terms and conditions, not inconsistent with the terms of the Plan, as are deemed necessary
or desirable by the Committee, which terms, together with the terms of the Plan, shall be intended and interpreted to cause such Incentive Stock Option to qualify as an “incentive stock option” under Section 422 of the Code. A Stock
Option that is granted as an Incentive Stock Option shall, to the extent it fails to qualify as an “incentive stock option” under the Code, be treated as a Nonqualified Stock Option. An Incentive Stock Option shall by its terms be
nontransferable other than by will or by the laws of descent and distribution, and shall be exercisable during the lifetime of a Participant only by such Participant. Nothing herein shall limit the ability of the Committee to take an action
otherwise permitted by the Plan even if such action would result in an Incentive Stock Option failing to qualify as one. 

(f) Disqualifying Dispositions. If shares of Common Stock acquired by exercise of an Incentive Stock Option are disposed of
within two years following the Date of Grant or one year following the transfer of such shares to the Participant upon exercise, the Participant shall, promptly following such disposition, notify the Company in writing of the date and terms of such
disposition and provide such other information regarding the disposition as the Company may reasonably require. 
 6.8 Repricing
Prohibited. Except as provided in Sections 4.5 and 12 hereof, without the prior approval of the Company’s stockholders, neither the Committee nor the Board shall cancel a Stock Option when the exercise price per share exceeds the Fair
Market Value of one share of Common Stock in exchange for cash or another Award (other than in connection with a Change in Control) or cause the cancellation, substitution or amendment of a Stock Option that would have the effect of reducing the
exercise price of such a Stock Option previously granted under the Plan or otherwise approve any modification to such a Stock Option that would be treated as a “repricing” under the then applicable rules, regulations or listing
requirements adopted by NYSE or any other principal exchange on which the Common Stock is then listed. 
 6.9 Dividend Equivalent
Rights. Subject to the anti-dilution adjustment provisions contained in Section 4.5 hereof, dividends shall not be paid with respect to Stock Options. Dividend equivalent rights shall be granted with respect to the shares of Common Stock
subject to Stock Options to the extent permitted by the Committee or set forth in the Award Agreement. 

  
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 7. Stock Appreciation Rights. 

7.1 Grant of Stock Appreciation Rights. Stock Appreciation Rights may be granted to any Eligible Person selected by the
Committee. Stock Appreciation Rights may be granted on a basis that allows for the exercise of the right by the Participant or that provides for the automatic payment of the right upon a specified date or event. Stock Appreciation Rights shall be non-transferable, except as provided in Section 15.3 hereof. 
 7.2 Stand-Alone and Tandem
Stock Appreciation Rights. A Stock Appreciation Right may be granted without any related Stock Option, or may be granted in tandem with a Stock Option, either on the Date of Grant or at any time thereafter during the term of the Stock
Option. The Committee shall in its discretion provide in an Award Agreement the time or times at which or the conditions upon which, a Stock Appreciation Right or portion thereof shall become vested and/or exercisable. The requirements for vesting
and exercisability of a Stock Appreciation Right may be based on the continued Service of a Participant with the Company or a Subsidiary for a specified time period (or periods), on the attainment of a specified Performance Goal(s) or on such other
terms and conditions as approved by the Committee in its discretion. If the vesting requirements of a Stock Appreciation Right are not satisfied, the Award shall be forfeited. A Stock Appreciation Right will be exercisable or payable at such time or
times as determined by the Committee; provided, that the maximum term of a Stock Appreciation Right shall be ten (10) years from the Date of Grant. The Committee may provide that a Stock Appreciation Right will cease to be exercisable
upon or at the end of a period following a termination of Service for any reason. The base price of a Stock Appreciation Right granted without any related Stock Option shall be determined by the Committee in its discretion; provided,
however, that the base price per share of any such stand-alone Stock Appreciation Right shall not be less than one hundred percent (100%) of the Fair Market Value of a share of Common Stock on the Date of Grant. 

7.3 Payment of Stock Appreciation Rights. A Stock Appreciation Right will entitle the holder, upon exercise or other
payment of the Stock Appreciation Right, as applicable, to receive an amount determined by multiplying: (i) the excess of the Fair Market Value of a share of Common Stock on the date of exercise or payment of the Stock Appreciation Right over
the base price of such Stock Appreciation Right, by (ii) the number of shares as to which such Stock Appreciation Right is exercised or paid. Payment of the amount determined under the foregoing may be made, as approved by the Committee and set
forth in the Award Agreement, in shares of Common Stock valued at their Fair Market Value on the date of exercise or payment, in cash or in a combination of shares of Common Stock and cash, subject to applicable tax withholding requirements. 

7.4 Repricing Prohibited. Except as provided in Sections 4.5 and 12 hereof, without the prior approval of the
Company’s stockholders, neither the Committee nor the Board shall cancel a Stock Appreciation Right when the base price per share exceeds the Fair Market Value of one share of Common Stock in exchange for cash or another Award (other than in
connection with a Change in Control) or cause the cancellation, substitution or amendment of a Stock Appreciation Right that would have the effect of reducing the base price of such a Stock Appreciation Right previously granted under the Plan or
otherwise approve any modification to such Stock Appreciation Right that would be treated as a “repricing” under the then applicable rules, regulations or listing requirements adopted by NYSE or any other principal exchange on which the
Common Stock is then listed. 

  
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 7.5 Dividend Equivalent Rights. Subject to the anti-dilution adjustment provisions
contained in Section 4.5 hereof, dividends shall not be paid with respect to Stock Appreciation Rights. Dividend equivalent rights shall be granted with respect to the shares of Common Stock subject to Stock Appreciation Rights to the extent
permitted by the Committee or set forth in the Award Agreement. 
 8. Restricted Stock Awards. 

8.1 Grant of Restricted Stock Awards. A Restricted Stock Award may be granted to any Eligible Person selected by the
Committee. The Committee may require the payment by the Participant of a specified purchase price in connection with any Restricted Stock Award. 

8.2 Vesting Requirements. The restrictions imposed on shares granted under a Restricted Stock Award shall lapse in
accordance with the vesting requirements specified by the Committee in the Award Agreement. The requirements for vesting of a Restricted Stock Award may be based on the continued Service of the Participant with the Company or a Subsidiary for a
specified time period (or periods), on the attainment of a specified Performance Goal(s), or on such other terms and conditions as approved by the Committee in its discretion. If the vesting requirements of a Restricted Stock Award shall not be
satisfied or, if applicable, the Performance Goal(s) with respect to such Restricted Stock Award are not attained, the Award shall be forfeited and the shares of Stock subject to the Award shall be returned to the Company. 

8.3 Transfer Restrictions. Shares granted under any Restricted Stock Award may not be transferred, assigned or subject to
any encumbrance, pledge or charge until all applicable restrictions are removed or have expired, except as provided in Section 15.3 hereof. Failure to satisfy any applicable restrictions shall result in the subject shares of the Restricted
Stock Award being forfeited and returned to the Company. The Committee may require in an Award Agreement that certificates (if any) representing the shares granted under a Restricted Stock Award bear a legend making appropriate reference to the
restrictions imposed, and that certificates (if any) representing the shares granted or sold under a Restricted Stock Award will remain in the physical custody of an escrow holder until all restrictions are removed or have expired. 

8.4 Rights as Stockholder. Subject to the foregoing provisions of this Section 8 and the applicable Award Agreement,
the Participant shall have all rights of a stockholder with respect to the shares granted to the Participant under a Restricted Stock Award, including the right to vote the shares and receive all dividends and other distributions paid or made with
respect thereto, unless otherwise provided in the applicable Award Agreement or the Committee determines otherwise at the time the Restricted Stock Award is granted. The Committee may provide in an Award Agreement for the payment of dividends and
distributions to the Participant at such times as paid to stockholders generally, at the times of vesting or other payment of the Restricted Stock Award or otherwise. 

  
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 8.5 Section 83(b) Election. If a Participant makes an
election pursuant to Section 83(b) of the Code with respect to a Restricted Stock Award, the Participant shall file, within thirty (30) days following the Date of Grant, a copy of such election with the Company and with the Internal
Revenue Service, in accordance with the regulations under Section 83 of the Code. The Committee may provide in an Award Agreement that the Restricted Stock Award is conditioned upon the Participant’s making or refraining from making an
election with respect to the Award under Section 83(b) of the Code. 
 9. Restricted Stock Units. 

9.1 Grant of Restricted Stock Units. A Restricted Stock Unit may be granted to any Eligible Person selected by the
Committee. The value of each Restricted Stock Unit is equal to the Fair Market Value of the Common Stock on the applicable date or time period of determination, as specified by the Committee. Restricted Stock Units shall be subject to such
restrictions and conditions as the Committee shall determine. In addition, a Restricted Stock Unit may be designated as a “Performance Stock Unit”, the vesting requirements of which may be based, in whole or in part, on the attainment of pre-established business and/or individual Performance Goal(s) over a specified performance period, as approved by the Committee in its discretion. Restricted Stock Units shall be
non-transferable, except as provided in Section 15.3 hereof. 
 9.2 Vesting of
Restricted Stock Units. On the Date of Grant, the Committee shall, in its discretion, determine any vesting requirements with respect to Restricted Stock Units, which shall be set forth in the Award Agreement. The requirements for vesting
of a Restricted Stock Unit may be based on the continued Service of the Participant with the Company or a Subsidiary for a specified time period (or periods) or on such other terms and conditions as approved by the Committee (including Performance
Goal(s)) in its discretion. If the vesting requirements of a Restricted Stock Units Award are not satisfied, the Award shall be forfeited. 

9.3 Payment of Restricted Stock Units. Restricted Stock Units shall become payable to a Participant at the time or times
determined by the Committee and set forth in the Award Agreement, which may be upon or following the vesting of the Award. Payment of a Restricted Stock Unit may be made, as approved by the Committee and set forth in the Award Agreement, in cash or
in shares of Common Stock or in a combination thereof, subject to applicable tax withholding requirements. Any cash payment of a Restricted Stock Unit shall be made based upon the Fair Market Value of the Common Stock. 

9.4 Dividend Equivalent Rights. Subject to the anti-dilution adjustment provisions contained in Section 4.5 hereof,
Restricted Stock Units may or may not, in the discretion of the Committee, be granted together with a dividend equivalent right with respect to the shares of Common Stock subject to the Award, which may be accumulated and may be deemed reinvested in
additional Restricted Stock Units or may be accumulated in cash, as determined by the Committee in its discretion. Dividend equivalent rights will be paid at such times as determined by the Committee in its discretion (including without limitation
at the times paid to stockholders generally or at the times of vesting or payment of the Restricted Stock Unit). Dividend equivalent rights may be subject to forfeiture under the same conditions as apply to the underlying Restricted Stock Units.

  
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 10. Cash Awards and Performance Awards; Performance Criteria. 

10.1 Grant of Cash Awards and Performance Awards. A Cash Award may be granted to any Eligible Person selected by the
Committee. Payment amounts may be based on specified levels of attainment with respect to the Performance Goals, including, if applicable, specified threshold, target and maximum performance levels. The requirements for payment may be also based
upon the continued Service of the Participant with the Company or a Subsidiary during the respective performance period and on such other conditions as determined by the Committee and set forth in an Award Agreement. With respect to Performance
Awards, before the ninetieth (90th) day of the applicable performance period (or, if the performance period is less than one year, no later than the number of days which is equal to twenty-five
percent (25%) of such performance period), the Committee will determine the duration of the performance period, the Performance Criteria, the applicable Performance Goals relating to the Performance Criteria, and the amount and terms of payment
and/or vesting upon achievement of the Performance Goals. The preceding sentence and other terms of the Plan relating to compliance with Section 162(m) requirements and other similar provisions will not apply to an Award eligible (as determined
by the Committee) for exemption from the limitations of Section 162(m) of the Code by reason of the post-initial public offering transition relief in Section 1.162-27(f) of the Treasury Regulation.
Cash Awards shall be non-transferable, except as provided in Section 15.3 hereof. 

10.2 Award Agreements. Each Cash Award shall be evidenced by an Award Agreement that shall specify the terms and conditions
of the Award as the Committee, in its discretion, shall determine. 
 10.3 Performance Criteria. For purposes of
Performance Awards, the Performance Criteria shall be one or any combination of the following, for the Company or any identified Subsidiary or business unit, as determined by the Committee: (a) net earnings; (b) earnings per share;
(c) net debt; (d) revenue or sales growth; (e) net or operating income; (f) net operating profit; (g) return measures (including, but not limited to, return on assets, capital, equity or sales); (h) cash flow (including, but
not limited to, operating cash flow, distributable cash flow and free cash flow); (i) earnings before or after taxes, interest, depreciation, amortization and/or rent; (j) share price (including, but not limited to growth measures and total or
relative stockholder return); (k) expense control or loss management; (l) customer satisfaction; (m) market share; (n) economic value added; (o) working capital; (p) the formation of joint ventures or the completion of other
corporate transactions; (q) gross or net profit margins; (r) revenue mix; (s) operating efficiency; (t) product diversification; (u) market penetration; (v) measurable achievement in quality, operation or compliance
initiatives; (w) quarterly dividends or distributions; (x) employee retention or turnover; or (y) any combination of or a specified increase in any of the foregoing. Each of the Performance Criteria shall be applied and interpreted in
accordance with an objective formula or standard established by the Committee at the time the applicable Award is granted including, without limitation, GAAP. 

10.4 Performance Goals. For purposes of Performance Awards, the “Performance Goals” shall be the levels of
achievement relating to the Performance Criteria selected by the Committee for the Award. For purposes of Performance Awards, the Performance Goals shall be written and shall be expressed as an objective formula or standard that precludes discretion
to increase the amount of compensation payable that would otherwise be due upon attainment of 

  
 14 

 
the goal. The Performance Goals may be applied on an absolute basis or relative to an identified index, peer group, or one or more competitors or other companies (including particular business
segments or divisions or such companies), as specified by the Committee. The Performance Goals need not be the same for all Participants. The Committee may, subject to the terms of the Plan, amend a previously granted Performance Award or take any
other action that disqualifies such Award from the performance-based compensation exception under Section 162(m). 

10.5 Adjustments. At the time that an Award is granted, the Committee may provide for the Performance Goals or the manner
in which performance will be measured against the Performance Goals to be adjusted in such objective manner as it deems appropriate, including, without limitation, adjustments to reflect charges for restructurings,
non-operating income, the impact of corporate transactions or discontinued operations, extraordinary and other unusual or non-recurring items and the cumulative effects
of accounting or tax law changes. In addition, with respect to a Participant hired or promoted following the beginning of a performance period, the Committee may determine to prorate the Performance Goals and/or the amount of any payment in respect
of such Participant’s Awards for the partial performance period. 
 10.6 Maximum Amount of Cash Awards. The maximum
amount that may become payable to any one Participant during any one calendar year under all Cash Awards is limited to $            . 

10.7 Negative Discretion. Notwithstanding anything else contained in the Plan to the contrary, the Committee shall, to the
extent provided in an Award Agreement, have the right, in its discretion, (i) to reduce or eliminate the amount otherwise payable to any Participant under an Award and (ii) to establish rules or procedures that have the effect of limiting
the amount payable to any Participant to an amount that is less than the amount that otherwise would be payable under an Award. The Committee may exercise such discretion in a non-uniform manner among
Participants. The Committee shall not have discretion to increase the amount that otherwise would be payable to any Participant under a Performance Award. 

10.8 Certification. Following the conclusion of the performance period of a Performance Award, the Committee shall certify
in writing whether the Performance Goals for that performance period have been achieved, or certify the degree of achievement, if applicable. 

10.9 Payment. Upon certification of the Performance Goals for a Performance Award , the Committee shall determine the level
of vesting or amount of payment to the Participant pursuant to the Award, if any. Notwithstanding the foregoing, Cash Awards may be paid, at the discretion of the Committee, in any combination of cash or shares of Common Stock, based upon the Fair
Market Value of such shares at the time of payment (with the limit set forth in Section 10.6 applying, valuing any shares delivered based on their then Fair Market Value). 

11. Stock Awards. 

11.1 Grant of Stock Awards. A Stock Award may be granted to any Eligible Person selected by the Committee. A Stock Award
may be granted for past Service, in lieu of bonus or other cash compensation, as directors’ compensation or for any other valid purpose as determined by the Committee. The Committee shall determine the terms and conditions of such

  
 15 

 
Awards, and such Awards may be made without vesting requirements. In addition, the Committee may, in connection with any Stock Award, require the payment of a specified purchase price. 

11.2 Rights as Stockholder. Subject to the foregoing provisions of this Section 11 and the applicable Award Agreement,
upon the issuance of the Common Stock under a Stock Award the Participant shall have all rights of a stockholder with respect to the shares of Common Stock, including the right to vote the shares and receive all dividends and other distributions
paid or made with respect thereto. 
 12. Change in Control. 

12.1 Effect on Awards. Upon the occurrence of a Change in Control, unless otherwise provided in the Award Agreement, the
Committee is authorized (but not obligated) to make adjustments in the terms and conditions of outstanding Awards, including without limitation the following (or any combination thereof): (a) continuation or assumption of such outstanding Awards
under the Plan by the Company (if it is the surviving company or corporation) or by the surviving company or corporation or its parent; (b) substitution by the surviving company or corporation or its parent of awards with substantially the same
terms for outstanding Awards (with appropriate adjustments to the type of consideration payable upon settlement of the Awards); (c) accelerated exercisability, vesting and/or payment under outstanding Awards immediately prior to or upon the
occurrence of such event or upon a termination of employment following such event; and (d) if all or substantially all of the Company’s outstanding shares of Common Stock transferred in exchange for cash consideration in connection with
such Change in Control: (i) upon written notice, provide that any outstanding Stock Options and Stock Appreciation Rights are exercisable during a reasonable period of time immediately prior to the scheduled consummation of the event or such
other reasonable period as determined by the Committee (contingent upon the consummation of the event), and at the end of such period, such Stock Options and Stock Appreciation Rights shall terminate to the extent not so exercised within the
relevant period; and (ii) cancellation of some or all or any portion of outstanding Awards in exchange for a payment (in the form of cash, shares, other property or any combination thereof as determined by the Committee) equal, in the case
of each affected Award or portion thereof, to the excess, if any, of (A) the Fair Market Value of one share of Common Stock times the number of shares of Common Stock subject to the Award or such portion, over (B) the aggregate exercise or
purchase price, if any, under the Award or such portion (in the case of a Stock Appreciation Right, the aggregate base value above which appreciation is measured), in each case on such payment terms (which need not be the same as the terms of
payment to holders of Common Stock) and other terms, and subject to such conditions, as the Committee determines; provided, however, for the avoidance of doubt, that if the exercise or purchase price (or base value) of an Award is equal to or
greater than the Fair Market Value of one share of Common Stock, the Award may be cancelled with no payment due hereunder or otherwise in respect of such Award. 

  
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 12.2 Definition of Change in Control. Unless otherwise defined in an Award Agreement,
“Change in Control” shall mean the occurrence of one of the following events: 
 (a) Any Person, becomes the Beneficial
Owner, directly or indirectly, of more than fifty percent (50%) of the combined voting power, excluding any Person who holds fifty percent (50%) or more of the voting power on the Effective Date of the Plan (the “Initial Owners”),
of the then outstanding voting securities of the Company entitled to vote generally in the election of its directors (the “Outstanding Company Voting Securities”) including by way of merger, consolidation or otherwise;
provided, however, that for purposes of this definition, the following acquisitions shall not constitute a Change in Control: (i) any acquisition of voting securities of the Company directly from the Company, including without
limitation, a Public Offering of securities; (ii) any acquisition by the Company or any of its Subsidiaries of Outstanding Company Voting Securities, including an acquisition by any employee benefit plan or related trust sponsored or maintained
by the Company or any of its Subsidiaries; or (iii) any acquisition after which the Initial Owners and their affiliates remain the Beneficial Owners of more Outstanding Voting Securities than any other Person. 

(b) Consummation of a reorganization, merger, or consolidation to which the Company is a party or a sale or other disposition of all or
substantially all of the assets of the Company (a “Business Combination”), unless, following such Business Combination: (i) any individuals and entities that were the Beneficial Owners of Outstanding Company Voting Securities
immediately prior to such Business Combination are the Beneficial Owners, directly or indirectly, of more than fifty percent (50%) of the combined voting power of the outstanding voting securities entitled to vote generally in the election of
directors (or election of members of a comparable governing body) of the entity resulting from the Business Combination (including, without limitation, an entity which as a result of such transaction owns all or substantially all of the Company or
all or substantially all of the Company’s assets either directly or through one or more Subsidiaries) (the “Successor Entity”) in substantially the same proportions as their ownership immediately prior to such Business
Combination; (ii) no Person (excluding any Successor Entity or any employee benefit plan or related trust of the Company, such Successor Entity, or any of their Subsidiaries) is the Beneficial Owner, directly or indirectly, of more than fifty
percent (50%) of the combined voting power of the then outstanding voting securities entitled to vote generally in the election of directors (or comparable governing body) of the Successor Entity, except to the extent that such ownership existed
prior to the Business Combination; and (iii) at least a majority of the members of the board of directors (or comparable governing body) of the Successor Entity were incumbent Directors (including persons deemed to be incumbent Directors) at
the time of the execution of the initial agreement or of the action of the Board providing for such Business Combination. 
 Notwithstanding the foregoing,
to the extent necessary to comply with Section 409A of the Code with respect to the payment of “nonqualified deferred compensation,” “Change in Control” shall be limited to a “change in control event” as defined
under Section 409A of the Code. For the avoidance of doubt, neither a Public Offering nor any changes to the size or members of the Board in connection with or as a result of a public offering shall constitute or be deemed to result in a Change
in Control. 
 13. Forfeiture Events. 

13.1 General. The Committee may specify in an Award Agreement at the time of the Award that the Participant’s rights,
payments and benefits with respect to an Award shall be 

  
 17 

 
subject to reduction, cancellation, forfeiture or recoupment upon the occurrence of certain specified events, in addition to any otherwise applicable vesting or performance conditions of an
Award. Such events may include, but shall not be limited to, termination of Service for Cause, violation of material Company policies, breach of noncompetition, confidentiality or other restrictive covenants that may apply to the Participant or
other similar conduct by the Participant that is detrimental to the business or reputation of the Company. 
 13.2 Termination for
Cause. 
 (a) Treatment of Awards. Unless otherwise provided by the Committee and set forth in an Award Agreement, the
following rules will apply if a Participant’s Service ceases: 
 (i) Except as provided in (ii) and (iii) below, immediately
upon the cessation of the Participant’s Service each Stock Option and Stock Appreciation Right that is then held by the Participant or by the Participant’s permitted transferees, if any, will cease to be exercisable and will terminate and
all other Awards that are then held by the Participant or by the Participant’s permitted transferees, if any, to the extent not already vested will be forfeited. 

(ii) Subject to (iii) and (iv) below, all Stock Options and Stock Appreciation Rights held by the Participant or the
Participant’s permitted transferees, if any, immediately prior to the cessation of the Participant’s Service, to the extent then exercisable, will remain exercisable for the lesser of (i) a period of three months or (ii) the
period ending on the latest date on which such Stock Option or Stock Appreciation Right could have been exercised without regard to this Section 13.2(a), and will thereupon immediately terminate. 

(iii) Subject to (iv) below, all Stock Options and Stock Appreciation Rights held by a Participant or the Participant’s
permitted transferees, if any, immediately prior to the Participant’s death, to the extent then exercisable, will remain exercisable for the lesser of (i) the one year period ending with the first anniversary of the Participant’s
death or (ii) the period ending on the latest date on which such Stock Option or Stock Appreciation Right could have been exercised without regard to this Section 13.2(a), and will thereupon immediately terminate. 

(iv) All Stock Options and Stock Appreciation Rights (whether or not exercisable) held by a Participant or the Participant’s
permitted transferees, if any, immediately prior to the cessation of the Participant’s Service will immediately terminate upon such cessation of Service if the termination is for Cause or occurs in circumstances that in the determination of the
Committee would have constituted grounds for the Participant’s Service to be terminated for Cause. 
 (b) Post-Termination
Breaches. Unless otherwise provided by the Committee and set forth in an Award Agreement, if (i) a Participant’s Service with the Company or any Subsidiary is terminated for Cause or (ii) within one (1) year following
termination of Service for any other reason, the Committee determines in its discretion that, after termination, the Participant breached any of the material terms contained in any non-competition agreement,
confidentiality agreement or similar restrictive covenant agreement to which such Participant is a party, such Participant’s rights, payments and benefits with respect to an Award shall be subject

  
 18 

 
to cancellation, forfeiture and/or recoupment, as provided in Section 13.3 below. The Company shall have the power to determine whether the Participant has been terminated for Cause, the
date upon which such termination for Cause occurs and whether the Participant engaged in conduct that violated any continuing obligation or duty of the Participant in respect of the Company or any Subsidiary. Any such determination shall be final,
conclusive and binding upon all Persons. In addition, if the Company shall reasonably determine that a Participant has committed or may have committed any act which could constitute the basis for a termination of such Participant’s Service for
Cause or violates any continuing obligation or duty of the Participant in respect of the Company or any Subsidiary, the Company may suspend the Participant’s rights to exercise any Stock Option or Stock Appreciation Right, receive any payment
or vest in any right with respect to any Award pending a determination by the Company of whether an act or omission could constitute the basis for a termination for Cause as provided in this Section 13.2. 

(c) Definition of Cause. Unless otherwise defined in an Award Agreement, “Cause” shall mean: 

(i) the Participant has committed a deliberate and premeditated act against the interests of the Company including, without limitation:
an act of fraud, embezzlement, misappropriation or breach of fiduciary duty against the Company, including, but not limited to, the offer, payment, solicitation or acceptance of any unlawful bribe or kickback with respect to the Company’s
business; or 
 (ii) the Participant has been convicted by a court of competent jurisdiction of, or pleaded guilty or nolo contendere
to, any felony or any crime involving moral turpitude; or 
 (iii) the Participant has failed to perform or neglected the material
duties incident to his or her employment or other engagement with the Company on a regular basis, and such refusal or failure shall have continued for a period of twenty (20) days after written notice to the Participant specifying such refusal
or failure in reasonable detail; or 
 (iv) the Participant has been chronically absent from work (excluding vacations, illnesses,
Disability or leaves of absence approved by the Company); or 
 (v) the Participant has refused, after explicit written notice, to
obey any lawful resolution of or direction by the Board which is consistent with the duties incident to his or her employment or other engagement with the Company and such refusal continues for more than twenty (20) days after written notice is
given to the Participant specifying such refusal in reasonable detail; or 
 (vi) the Participant has breached any of the material
terms contained in any employment agreement, non-competition agreement, confidentiality agreement or similar type of agreement to which such Participant is a party; or 

(vii) the Participant has engaged in (x) the unlawful use (including being under the influence) or possession of illegal drugs on
the Company’s premises or (y) habitual drunkenness on the Company’s premises. 

  
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 Any voluntary termination of employment or other engagement by the Participant in anticipation of
an involuntary termination of the Participant’s Service for Cause shall be deemed to be a termination for “Cause.” Notwithstanding the foregoing, in the event that a Participant is party to an employment, severance or similar
agreement with the Company or any of its affiliates and such agreement contains a definition of “Cause,” the definition of “Cause” set forth above shall be deemed replaced and superseded, with respect to such Participant, by the
definition of “Cause” used in such employment, severance or similar agreement for so long as such agreement remains in effect. 

13.3 Right of Recapture. 

(a) General. If at any time within one (1) year (or such longer time specified in an Award Agreement or other
agreement with a Participant) after the date on which a Participant exercises a Stock Option or Stock Appreciation Right or on which a Stock Award, Restricted Stock Award or Restricted Stock Unit vests or becomes payable or on which a Cash Award is
paid to a Participant, or on which income otherwise is realized by a Participant in connection with an Award, (i) a Participant’s Service is terminated for Cause or (ii) after a Participant’s Service otherwise terminates for any
other reason, the Committee determines in its discretion that, after termination, the Participant breached any of the material terms contained in any non-competition agreement, confidentiality agreement,
severance agreement, or similar restrictive covenant agreement to which such Participant is a party, then any gain realized by the Participant from the exercise, vesting, payment or other realization of income by the Participant in connection with
an Award, shall be paid by the Participant to the Company upon notice from the Company, subject to applicable state law. Such gain shall be determined as of the date or dates on which the gain is realized by the Participant, without regard to any
subsequent change in the Fair Market Value of a share of Common Stock. To the extent not otherwise prohibited by law, the Company shall have the right to offset such gain against any amounts otherwise owed to the Participant by the Company (whether
as wages, vacation pay or pursuant to any benefit plan or other compensatory arrangement). 
 (b) Forfeiture or Clawback of Awards
Under Applicable Law and Company Policy. If the Company is required to prepare an accounting restatement due to the material noncompliance of the Company, as a result of misconduct, with any financial reporting requirement under the
securities laws, then any Participant who is one of the individuals subject to automatic forfeiture under Section 304 of the Sarbanes-Oxley Act of 2002 will reimburse the Company for the amount of any Award received by such individual under
this Plan during the 12-month period following the first public issuance or filing with the Securities and Exchange Commission, as the case may be, of the financial document embodying such financial reporting
requirement. The Company also may seek to recover any Award made as required by the provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act or any other clawback, forfeiture or recoupment provision required by applicable law or
under the requirements of any stock exchange or market upon which the shares of Common Stock are then listed or traded. In addition, all Awards under this Plan will be subject to forfeiture or other penalties pursuant to any clawback or forfeiture
policy of the Company, as in effect from time to time, and such forfeiture and/or penalty conditions or provisions as determined by the Committee and set forth in the applicable Award Agreement. 

  
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 14. Transfer, Leave of Absence, Etc. For purposes of the Plan, except as otherwise
determined by the Committee, the following events shall not be deemed a termination of employment: (a) a transfer of a Participant’s employment to the Company from a Subsidiary or from the Company to a Subsidiary, or from one Subsidiary to
another; or (b) an approved leave of absence for military service or sickness, or for any other purpose approved by the Company, if the employee’s right to re-employment is guaranteed either by a
statute or by contract or under the policy pursuant to which the leave of absence was granted or if the Committee otherwise so provides in writing. 

15. General Provisions. 

15.1 Status of Plan. The Committee may authorize the creation of trusts or other arrangements to meet the Company’s
obligations to deliver stock or make payments with respect to Awards. 
 15.2 Award Agreement. Each Award under the Plan
shall be evidenced by an Award Agreement in a written or electronic form approved by the Committee setting forth the number of shares of Common Stock or Restricted Stock Units subject to the Award, the exercise price, base price or purchase price of
the Award, the time or times at which an Award will become vested, exercisable or payable and the term of the Award. The Award Agreement also may set forth the effect on an Award of a Change in Control or a termination of Service under certain
circumstances. The Award Agreement shall be subject to and incorporate, by reference or otherwise, all of the applicable terms and conditions of the Plan, and also may set forth other terms and conditions applicable to the Award as determined by the
Committee consistent with the limitations of the Plan. The grant of an Award under the Plan shall not confer any rights upon the Participant holding such Award other than such terms, and subject to such conditions, as are specified in the Plan as
being applicable to such type of Award (or to all Awards) or as are expressly set forth in the Award Agreement. The Committee need not require the execution of an Award Agreement by a Participant, in which case, acceptance of the Award by the
Participant shall constitute agreement by the Participant to the terms, conditions, restrictions and limitations set forth in the Plan and the Award Agreement as well as the administrative guidelines of the Company in effect from time to time. In
the event of any conflict between the provisions of the Plan and any Award Agreement, the provisions of the Plan shall prevail. 

15.3 No Assignment or Transfer; Beneficiaries. Except as provided in Section 6.7(e) hereof or as otherwise determined
by the Committee, Awards under the Plan shall not be assignable or transferable by the Participant, and shall not be subject in any manner to assignment, alienation, pledge, encumbrance or charge. Notwithstanding the foregoing, in the event of the
death of a Participant, except as otherwise provided by the Committee in an Award Agreement, an outstanding Award may be exercised by or shall become payable to the Participant’s beneficiary as designated by the Participant in the manner
prescribed by the Committee or, in the absence of an authorized beneficiary designation, by a legatee or legatees of such Award under the Participant’s last will or by such Participant’s executors, personal representatives or distributees
of such Award in accordance with the Participant’s will or the laws of descent and distribution. The Committee may provide in the terms of an Award Agreement or in any other manner prescribed by the Committee that the Participant shall have the
right to designate a beneficiary or beneficiaries who shall be entitled to any rights, payments or other benefits specified under an Award following the Participant’s death. 

  
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 15.4 Deferrals of Payment. The Committee may in its discretion permit a
Participant to defer the receipt of payment of cash or delivery of shares of Common Stock that would otherwise be due to the Participant by virtue of the exercise of a right or the satisfaction of vesting or other conditions with respect to an
Award; provided, however, that such discretion shall not apply in the case of a Stock Option or Stock Appreciation Right. If any such deferral is to be permitted by the Committee, the Committee shall establish rules and procedures
relating to such deferral in a manner intended to comply with the requirements of Section 409A of the Code, including, without limitation, the time when an election to defer may be made, the time period of the deferral and the events that would
result in payment of the deferred amount, the interest or other earnings attributable to the deferral and the method of funding, if any, attributable to the deferred amount. 

15.5 No Right to Employment or Continued Service. Nothing in the Plan, in the grant of any Award or in any Award Agreement
shall confer upon any Eligible Person or any Participant any right to continue in the Service of the Company or any of its Subsidiaries or interfere in any way with the right of the Company or any of its Subsidiaries to terminate the employment or
other service relationship of an Eligible Person or a Participant for any reason at any time. The loss of existing or potential profit from an Award will not constitute an element of damages in the event of a termination of Service for any reason,
even if the termination is in violation of an obligation of the Company or any affiliate. 
 15.6 Stock Certificates. The
Committee may determine in its discretion the manner of delivery of Common Stock to be issued under the Plan, which may be by delivery of stock certificates, electronic account entry into new or existing accounts or any other means as the Committee,
in its discretion, deems appropriate. The Committee may require that the stock certificates (if any) be held in escrow by the Company for any shares of Common Stock or cause the shares to be legended in order to comply with the securities laws or
other applicable restrictions or should the shares of Common Stock be represented by book or electronic account entry rather than a certificate, the Committee may take such steps to restrict transfer of the shares of Common Stock as the Committee
considers necessary or advisable. 
 15.7 Trading Policy Restrictions. Option exercises and other Awards under the Plan
shall be subject to such Company insider-trading-policy-related restrictions, terms and conditions to the extent established by the Committee, or in accordance with policies set by the Committee, from time to time. 

15.8 Section 409A Compliance. To the maximum extent possible, it is intended that the Plan and all
Awards hereunder comply with, or be exempt from, the requirements of Section 409A of the Code and the Treasury Regulations and other guidance issued thereunder, and that the Plan and all Award Agreements shall be interpreted and applied by the
Committee in a manner consistent with this intent in order to avoid the imposition of any additional tax under Section 409A of the Code. Subject to Section 15.4 hereof, any payments due pursuant to this Plan shall be payable to the
Participant no later than two-and-a-half months following the end of the taxable year in which the payments are earned (subject
to a reasonable delay in payment due 

  
 22 

 
to an unforeseeable event making it administratively impracticable to make the payment by such time), and in no event shall the payments be made later than the end of the taxable year following
the taxable year in which the payments are earned. In the event that any payment under this Plan is contingent upon the execution of a release, and the applicable release spans two of the Participant’s taxable years, the applicable payments
must be made in the second of the two taxable years. For purposes of Section 409A, each payment made under this Plan will be treated as a separate payment. In the event that any (i) provision of the Plan or an Award Agreement,
(ii) Award, payment, transaction or (iii) other action or arrangement contemplated by the provisions of the Plan is determined by the Committee to not comply with the applicable requirements of Section 409A of the Code and the
Treasury Regulations and other guidance issued thereunder, the Committee shall have the authority to take such actions and to make such changes to the Plan or an Award Agreement as the Committee deems necessary to comply with such requirements. No
payment that constitutes deferred compensation under Section 409A of the Code that would otherwise be made under the Plan or an Award Agreement upon a termination of Service will be made or provided unless and until such termination is also a
“separation from service,” as determined in accordance with Section 409A of the Code (after giving effect to the presumptions contained therein). Notwithstanding the foregoing or anything elsewhere in the Plan or an Award Agreement to
the contrary, if a Participant is a “specified employee” as defined in Section 409A of the Code at the time of termination of Service with respect to an Award, then solely to the extent necessary to avoid the imposition of any
additional tax under Section 409A of the Code, the commencement of any payments or benefits under the Award shall be deferred until the date that is six (6) months following the Participant’s termination of Service (or, if earlier,
the date of death of the specified employee) and shall instead be paid (in a manner set forth in the Award Agreement) on the payment date that immediately follows the end of such six (6) month period (or death) or as soon as administratively
practicable within thirty (30) days thereafter, but in no event later than the end of the applicable taxable year. 
 15.9 No
Guarantees Regarding Tax Treatment; Limitation of Liability. Neither the Company nor the Committee make any guarantees to any person regarding the tax treatment of Awards or payments made under the Plan. Neither the Company nor the
Committee has any obligation to take any action to prevent the assessment of any tax on any person with respect to any Award under Section 422 of the Code, Section 409A of the Code, Section 4999 of the Code, Section 280G of the
Code or otherwise. Notwithstanding anything to the contrary in the Plan, in no event whatsoever shall the Company, any of its Subsidiaries, the Committee, or any person acting on behalf of the Company, any of its Subsidiaries, or the Committee, be
liable to any Participant, to any permitted transferee, to the estate or beneficiary of any Participant or any permitted transferee, or to any other person by reason of or with respect to any acceleration of income, or any additional tax, interest
or penalties or damages that are asserted by reason of the failure of an Award to satisfy the requirements of Section 422 or Section 409A of the Code, or by reason of Section 4999 of the Code, or otherwise asserted with respect to an
Award. 
 15.10 Securities Law Compliance. No shares of Common Stock will be issued or transferred pursuant to an Award
unless and until all then applicable requirements imposed by Federal and state securities and other laws, rules and regulations and by any regulatory agencies having jurisdiction, and by any exchanges upon which the shares of Common Stock may be
listed, have been fully met. As a condition precedent to the issuance of shares pursuant to the 

  
 23 

 
grant or exercise of an Award, the Company may require the Participant to take any reasonable action to meet such requirements. The Committee may impose such conditions on any shares of Common
Stock issuable under the Plan as it may deem advisable, including, without limitation, restrictions under the Securities Act, under the requirements of any exchange upon which such shares of the same class are then listed, and under any blue sky or
other securities laws applicable to such shares. The Committee may also require the Participant to represent and warrant at the time of issuance or transfer that the shares of Common Stock are being acquired only for investment purposes and without
any current intention to sell or distribute such shares. 
 15.11 Substitute Awards in Corporate Transactions. Nothing
contained in the Plan shall be construed to limit the right of the Committee to grant Awards under the Plan in connection with the acquisition, whether by purchase, merger, consolidation or other corporate transaction, of the business or assets of
any corporation or other entity. Without limiting the foregoing, the Committee may grant Awards under the Plan to an employee, director or other individual service provider of another corporation who becomes an Eligible Person by reason of any such
corporate transaction in substitution for awards previously granted by such corporation or entity to such person. The terms and conditions of the substitute Awards may vary from the terms and conditions that would otherwise be required by the Plan
solely to the extent the Committee deems necessary for such purpose. To the extent consistent with the rules of NYSE or other principal exchange on which the Common Stock is then listed, any such substitute awards shall not (a) reduce the
number of shares of Common Stock available for issuance under the Plan, (b) be subject to or counted against the Award limits specified in Section 4.3, 4.4 or 10.6 hereof or (c) replenish the Share Reserve upon the occurrence of any
event set forth in Section 4.2 hereof. 
 15.12 Tax Withholding. The Company shall have the power and the right to
deduct or withhold automatically from any amount deliverable under the Award or otherwise, or require a Participant to remit to the Company or the applicable Subsidiary, up to an amount based on the maximum statutory tax rates in the
Participant’s applicable tax jurisdiction or such other rate that will not trigger a negative accounting impact on the Company. With respect to required withholding, Participants may elect (subject to the Company’s automatic withholding
right set out above) to satisfy the withholding requirement with respect to any taxable event arising as a result of the Plan, in whole or in part, by the methods described in Section 6.5 hereof with respect to Stock Options or by a method
similar to the methods described in Section 6.5 hereof with respect to Awards other than Stock Options (except as otherwise set forth in an Award Agreement), subject, in each case, to the Committee’s discretion as set forth in such
Section 6.5. 
 15.13 Unfunded Plan. The adoption of the Plan and any reservation of shares of Stock or cash amounts
by the Company to discharge its obligations hereunder shall not be deemed to create a trust or other funded arrangement. Except upon the issuance of Common Stock pursuant to an Award, any rights of a Participant under the Plan shall be those of a
general unsecured creditor of the Company, and neither a Participant nor the Participant’s permitted transferees or estate shall have any other interest in any assets of the Company by virtue of the Plan. Notwithstanding the foregoing, the
Company shall have the right to implement or set aside funds in a grantor trust, subject to the claims of the Company’s creditors or otherwise, to discharge its obligations under the Plan. The Plan is not subject to the U.S. Employee Retirement
Income Security Act of 1974, as amended from time to time. 

  
 24 

 15.14 Other Compensation and Benefit Plans. The adoption of the Plan shall not
affect any other share incentive or other compensation plans in effect for the Company or any Subsidiary, nor shall the Plan preclude the Company or any Subsidiary from establishing any other forms of share incentive or other compensation or benefit
program for employees of the Company or any Subsidiary. The amount of any compensation deemed to be received by a Participant pursuant to an Award shall not constitute includable compensation for purposes of determining the amount of benefits to
which a Participant is entitled under any other compensation or benefit plan or program of the Company or a Subsidiary, including, without limitation, under any pension or severance benefits plan, except to the extent specifically provided by the
terms of any such plan. 
 15.15 Plan Binding on Transferees. The Plan shall be binding upon the Company, its transferees
and assigns, and the Participant, the Participant’s executor, administrator and permitted transferees and beneficiaries. 

15.16 Severability. If any provision of the Plan or any Award Agreement shall be determined to be illegal or unenforceable
by any court of law in any jurisdiction, the remaining provisions hereof and thereof shall be severable and enforceable in accordance with their terms, and all provisions shall remain enforceable in any other jurisdiction. 

15.17 Governing Law. The Plan and all rights hereunder shall be subject to and interpreted in accordance with the laws of
the State of Delaware, without reference to the principles of conflicts of laws, and to applicable Federal securities laws. 

15.18 Consent to Jurisdiction. By accepting an Award, each Participant will be deemed to have submitted irrevocably and
unconditionally to the jurisdiction and venue of the federal and state courts located within the geographic boundaries of the United States District Court for the Eastern District of Pennsylvania relative to any and all disputes, claims, suits,
actions or other proceedings that may arise out of or relate to this Plan, an Award or any related Award Agreement. Further, by accepting an Award, each Participant will be deemed to agree (a) not to commence any suits, actions or other
proceeding arising out of or related to this Plan, an Award or any related Award Agreement, except in the federal and state courts located within the geographic boundaries of the United States District Court for the Eastern District of Pennsylvania,
and (b) to waive, and agree not to assert, by way of motion as a defense or otherwise, in any such suit, action or proceeding, any claim that he or she is not subject personally to the jurisdiction of the above-named courts that his or her
property is exempt or immune from attachment or execution, that the suit, action or proceeding is brought in an inconvenient forum, that the venue of the suit, action or proceeding is improper or that the Plan or an Award or the subject matter
thereof may not be enforced in or by such court. 
 15.19 Waiver of Jury Trial. By accepting or being deemed to have
accepted an Award under this Plan, each Participant waives any right to a jury trial in any action, proceeding or counterclaim arising under or in connection with or concerning any rights under the Plan and any Award, or under any amendment, waiver,
consent, instrument, document or other agreement delivered or which in the future may be delivered in connection therewith, and agrees that any such action, proceedings or counterclaim will be tried before a court and not before a jury. By accepting
or being deemed to have accepted an Award under the Plan, each Participant certifies 

  
 25 

 
that no officer, representative, or attorney of the Company has represented, expressly or otherwise, that the Company would not, in the event of any action, proceeding or counterclaim, seek to
enforce the foregoing waivers. Notwithstanding anything to the contrary in the Plan, nothing herein is to be construed as limiting the ability of the Company and a Participant to agree to submit disputes arising under the terms of the Plan or any
Award made hereunder to binding arbitration or as limiting the ability of the Company to require any eligible individual to agree to submit such disputes to binding arbitration as a condition of receiving an Award hereunder. 

15.20 No Fractional Shares. No fractional shares of Common Stock shall be issued or delivered pursuant to the Plan or any
Award, and the Committee shall determine (i) whether cash, other securities or other property shall be paid or transferred in lieu of any fractional shares of Common Stock or (ii) whether such fractional shares or any rights thereto shall
be canceled, terminated or otherwise eliminated (in the case of this clause (ii), with no consideration paid therefor). 

15.21 Data Protection. By participating in the Plan, each Participant consents to the collection, processing, transmission
and storage by the Company, its Subsidiaries and any third party administrators of any data of a professional or personal nature for the purposes of administering the Plan. 

15.22 Awards to Non-U.S. Participants. To comply with the laws in countries other than the
United States in which the Company or any of its Subsidiaries or affiliates operates or has employees, Non-Employee Directors or consultants, the Committee, in its sole discretion, shall have the power and
authority to (i) modify the terms and conditions of any Award granted to Participants outside the United States to comply with applicable foreign laws, (ii) take any action, before or after an Award is made, that it deems advisable to
obtain approval or comply with any necessary local government regulatory exemptions or approvals and (iii) establish subplans and modify exercise procedures and other terms and procedures, to the extent such actions may be necessary or
advisable. Any subplans and modifications to Plan terms and procedures established under this Section 15.22 by the Committee shall be deemed to be part of the Plan but will apply only to Eligible Persons within the group to which the supplement
applies (as determined by the Committee). 
 15.23 No Rights as Stockholder. A Participant shall not have any rights as a
stockholder with respect to any shares subject to an Award until such time as shares of Common Stock are delivered to the Participant pursuant to the terms of the applicable Award Agreement. 

16. Term; Amendment and Termination; Stockholder Approval. 

16.1 Term. The Plan shall be effective as of the date of adoption by the Board, which date is set forth below (the
“Effective Date”). Subject to Section 16.2 hereof, the Plan shall terminate on the tenth anniversary of the Effective Date. 

16.2 Amendment and Termination. The Board may from time to time and in any respect, amend, modify, suspend or terminate the
Plan; provided, that, except as otherwise provided in Section 15.8 or 15.20 or as otherwise determined by the Committee as it deems necessary to comply with applicable laws, no amendment, modification, suspension or

  
 26 

 
termination of the Plan shall adversely affect any Award theretofore granted without the consent of the Participant or the permitted transferee of the Award. The Board may seek the approval of
any amendment, modification, suspension or termination by the Company’s stockholders to the extent it deems necessary or advisable in its discretion for purposes of compliance with Section 162(m) or Section 422 of the Code, the
listing requirements of NYSE or any other exchange or securities market or for any other purpose, in each case, to the extent applicable. 

16.3 Stockholder Approval. The Plan will be submitted for approval by the stockholders of the Company within twelve months
of the Effective Date. Any Awards granted under the Plan prior to such approval of the stockholders shall be effective as of the applicable Date of Grant, but no such Award may be exercised or settled and no restrictions relating to any Award may
lapse prior to such stockholder approval, and if the stockholders fail to approve the Plan as specified hereunder, the Plan and any Awards issued thereunder shall be terminated and cancelled without consideration. 

16.4 Re-Approval of Performance Criteria. At the discretion of the Board, for
purposes of compliance with Section 162(m) of the Code, the Company may seek approval by the Company’s stockholders of the Performance Criteria (or other designated performance goals) and such other provisions as determined by the Board no
later than the Annual General Meeting of Stockholders that occurs in the third year following the year in which a Public Offering first occurs. 

*             *          
   *             * 
 This Plan was duly adopted and approved
by the Board by resolution at a meeting held on                     , 2017. 

  
 27EX-10.15

 Exhibit 10.15 

PQ GROUP HOLDINGS INC. 

2017 Omnibus Incentive Plan 

Stock Option Award Agreement 

This Stock Option Award Agreement (this “Agreement”) is made by and between PQ Group Holdings Inc., a Delaware corporation
(the “Company”), and [•] (the “Participant”), effective as of [•] (the “Date of Grant”). 

RECITALS 

WHEREAS, the Company has adopted the PQ Group Holdings Inc. 2017 Omnibus Incentive Plan (as the same may be amended and/or amended and
restated from time to time, the “Plan”), which Plan is incorporated herein by reference and made a part of this Agreement, and capitalized terms not otherwise defined in this Agreement will have the meanings ascribed to those terms
in the Plan; and 
 WHEREAS, the Committee has authorized and approved the grant of an Award to the Participant of a Stock Option to
purchase shares of Common Stock (“Shares”), subject to the terms and conditions set forth in the Plan and this Agreement. 

NOW THEREFORE, in consideration of the premises and mutual covenants set forth in this Agreement, the parties agree as follows: 

 

	1.	Grant of Stock Option Award. On the Date of Grant, the Company has granted to the Participant the right and option to purchase, on the terms and conditions set forth in the Plan and this Agreement, all or any
part of an aggregate of [•] Shares, subject to adjustment as set forth in the Plan (the “Option”). The Option is intended to be a Nonqualified Stock Option. 

 

	2.	Exercise Price. The exercise price of the Option is $[•] per Share, subject to adjustment as set forth in the Plan (the “Exercise Price”). 

 

	3.	Vesting of Option. Subject to the terms and conditions set forth in the Plan and this Agreement, and except as otherwise provided in Section 4, the Option will vest [
                                         
       ], subject to the Participant’s continued Service through each applicable vesting date. 

  

	4.	Forfeiture; Expiration. 

  

	 	(a)	Termination of Service. Any unvested portion of the Option will be forfeited immediately, automatically and without consideration upon a termination of the Participant’s Service for any reason. In the event
the Participant’s Service is terminated for Cause, the vested portion of the Option will also be forfeited immediately, automatically and without consideration upon that termination for Cause. Without limiting the generality of the foregoing,
the Option and the Shares (and any resulting proceeds) will continue to be subject to Section 13 of the Plan. 

	 	(b)	Expiration. Any unexercised portion of the Option will expire on the tenth (10th) anniversary of the Date of Grant (the “Expiration Date”), or earlier as provided in this Agreement (including
Section 5) or the Plan. 

  

	5.	Period of Exercise. Subject to the provisions of the Plan and this Agreement, the Participant may exercise all or any part of the vested portion of the Option at any time prior to the earliest to occur of:

  

	 	(a)	the Expiration Date; 

  

	 	(b)	the date that is one (1) year following termination of the Participant’s Service due to death or Disability; 

  

	 	(c)	the date of termination of the Participant’s Service for Cause; or 

  

	 	(d)	the date that is ninety (90) days following the termination of the Participant’s Service for any reason other than pursuant to Sections 5(b) or 5(c) above. 

 

	6.	Exercise of Option 

  

	 	(a)	Notice of Exercise. Subject to Sections 4 and 5, the Participant or, in the case of the Participant’s death or Disability, the Participant’s representative may exercise all or any part of the vested
portion of the Option by delivering to the Company at its principal office a written notice of exercise in the form attached as Exhibit A or any other form that the Committee may permit (such notice, a “Notice of Exercise”).
The Notice of Exercise will be signed by the person exercising the Option. In the event that the Option is being exercised by the Participant’s representative, the Notice of Exercise will be accompanied by proof (satisfactory to the Committee)
of the representative’s right to exercise the Option. The Participant or the Participant’s representative will deliver to the Committee, at the time of giving the Notice of Exercise, payment in a form permissible under Section 7 for
the full amount of the Purchase Price (as defined below) and applicable withholding taxes as provided below. 

  

	 	(b)	Issuance of Shares. After all requirements with respect to the exercise of the Option have been satisfied, the Committee will cause to be issued the Shares as to which the Option has been exercised (or, in the
Committee’s discretion, in un-certificated form, upon the books of the Company’s transfer agent), registered in the name of the person exercising the Option (or in the names of such person and his or
her spouse as community property or as joint tenants with right of survivorship). Neither the Company nor the Committee will be liable to the Participant or any other Person for damages relating to any delays in issuing the Shares or any mistakes or
errors in the issuance of the Shares. 

  

	 	(c)	 Withholding Requirements. The Company will have the power and the right to deduct or withhold
automatically from any Shares deliverable under this Agreement or from any other compensation payable to the Participant, or to require the Participant or the Participant’s representative to remit to the Company,

  
 2 

	 	
up to the maximum statutory amount necessary to satisfy federal, state and local taxes, domestic or foreign, required by law or regulation to be withheld with respect to any taxable event arising
as a result of this Agreement (collectively, “Withheld Taxes”); provided that any obligations to pay Withheld Taxes may be satisfied in the manner in which the Purchase Price is permitted to be paid under Section 7 or any other
manner permitted by the Plan. Nothing in this Agreement may be construed as relieving the Participant of his or her obligation to satisfy all taxes required to be withheld in connection with the granting or exercise of the Option. 

 

	7.	Payment for Shares. The “Purchase Price” will be the Exercise Price multiplied by the number of Shares with respect to which the Option is being exercised. Subject to compliance with applicable
law and the Company’s insider trading or other similar policy, all or part of the Purchase Price and any Withheld Taxes may be paid as follows: 

  

	 	(a)	Cash or Check. In cash or by bank certified check. 

  

	 	(b)	Brokered Cashless Exercise. To the extent permitted by applicable law and unless otherwise provided by the Committee, from the proceeds of a sale through a broker on the date of exercise of some or all of the
Shares to which the exercise relates. In that case, the Participant will provide the Company a properly executed Notice of Exercise, together with a copy of irrevocable instructions to a broker to deliver promptly to the Company the amount of sale
proceeds to pay the aggregate purchase price and/or Withheld Taxes, as applicable. To facilitate the foregoing, the Company may, to the extent permitted by applicable law, enter into agreements or coordinate procedures with one or more brokerage
firms. 

  

	 	(c)	Net Exercise. By reducing the number of Shares otherwise deliverable upon the exercise of the Option by the number of Shares having a Fair Market Value equal to the amount of the Purchase Price and/or Withheld
Taxes, as applicable. 

  

	 	(d)	Surrender of Stock. In each instance, at the sole discretion of the Committee, by surrendering, or attesting to the ownership of, Shares that are already owned by the Participant free and clear of any restriction
or limitation, unless the Committee specifically agrees to accept such Shares subject to such restriction or limitation. Such Shares will be surrendered to the Company in good form for transfer and will be valued by the Company at their Fair Market
Value on the date of the applicable exercise of the Option, or to the extent applicable, on the date the Withheld Taxes are to be determined. The Participant will not surrender, or attest to the ownership of, Shares in payment of the Purchase Price
(or Withheld Taxes) if such action would cause the Company to recognize compensation expense (or additional compensation expense) with respect to this Option for financial reporting purposes that otherwise would not have occurred. 

 

	8.	Adjustment to Option. In the event of any change with respect to the outstanding shares of Common Stock contemplated by Section 4.5 of the Plan, the Option may be adjusted by the Committee in accordance with
Section 4.5 of the Plan. 

  
 3 

	9.	Miscellaneous Provisions 

  

	 	(a)	Securities Laws Requirements. No Shares will be issued or transferred pursuant to this Agreement unless and until all then applicable requirements imposed by federal and state securities and other laws, rules and
regulations and by any regulatory agencies having jurisdiction, and by any exchanges upon which the Shares may be listed, have been fully met. As a condition precedent to the issuance of Shares pursuant to this Agreement, the Company may require the
Participant to take any reasonable action to meet those requirements. The Committee may impose such conditions on any Shares issuable pursuant to this Agreement as it may deem advisable, including, without limitation, restrictions under the
Securities Act, under the requirements of any exchange upon which shares of the same class are then listed and under any blue sky or other securities laws applicable to those Shares. 

 

	 	(b)	Rights of a Shareholder of the Company. Neither the Participant nor the Participant’s representative will have any rights as a shareholder of the Company with respect to any Shares subject to the Option
until the Participant or the Participant’s representative becomes entitled to receive those Shares by (i) filing a Notice of Exercise, (ii) paying the Purchase Price and Withheld Taxes as provided in this Agreement, and the Company
actually receiving those amounts, (iii) the Company issuing those Shares and entering the name of the Participant in the register of shareholders of the Company as the registered holder of those Shares and (iv) satisfying any other
conditions as the Committee reasonably requires. 

  

	 	(c)	Transfer Restrictions. The Option may not be transferred except as expressly permitted under Section 15.3 of the Plan. The Shares purchased by exercise of the Option will be subject to such stop transfer
orders and other restrictions as the Committee may deem advisable under the Plan or the rules, regulations and other requirements of the Securities and Exchange Commission, any stock exchange upon which such shares are listed, any applicable federal
or state laws and any agreement with, or policy of, the Company or the Committee to which the Participant is a party or subject, and the Committee may cause orders or designations to be placed upon the books and records of the Company’s
transfer agent to make appropriate reference to such restrictions. 

  

	 	(d)	No Right to Continued Service. Nothing in this Agreement or the Plan confers upon the Participant any right to continue in Service for any period of specific duration or interfere with or otherwise restrict in
any way the rights of the Company (or any Subsidiary employing or retaining the Participant) or of the Participant, which rights are hereby expressly reserved by each, to terminate his or her Service at any time and for any reason, with or without
Cause. 

  

	 	(e)	 Notification. Any notification required by the terms of this Agreement will be given by the Participant
(i) in a writing addressed to the Company at its principal executive office and will be deemed effective upon actual receipt when delivered by personal delivery or by registered or certified mail, with postage and fees

  
 4 

	 	
prepaid, or (ii) by electronic transmission to the Company’s e-mail address of the Company’s General Counsel and will be deemed effective
upon actual receipt. Any notification required by the terms of this Agreement will be given by the Company (x) in a writing addressed to the address that the Participant most recently provided to the Company and will be deemed effective upon
personal delivery or within three (3) days of deposit with the United States Postal Service, by registered or certified mail, with postage and fees prepaid, or (y) by facsimile or electronic transmission to the Participant’s primary
work fax number or e-mail address (as applicable) and will be deemed effective upon confirmation of receipt by the sender of such transmission. 

 

	 	(f)	Entire Agreement. This Agreement and the Plan constitute the entire agreement between the parties hereto with regard to the subject matter of this Agreement. This Agreement and the Plan supersede any other
agreements, representations or understandings (whether oral or written and whether express or implied) that relate to the subject matter of this Agreement. 

  

	 	(g)	Waiver. No waiver of any breach or condition of this Agreement will be deemed to be a waiver of any other or subsequent breach or condition whether of like or different nature. 

 

	 	(h)	Successors and Assigns. The provisions of this Agreement will inure to the benefit of, and be binding upon, the Company and its successors and assigns and upon the Participant, the Participant’s executor,
personal representative(s), distributees, administrator, permitted transferees, permitted assignees, beneficiaries, and legatee(s), as applicable, whether or not any such person will have become a party to this Agreement and have agreed in writing
to be joined herein and be bound by the terms hereof. 

  

	 	(i)	Severability. The provisions of this Agreement are severable, and if any one or more provisions are determined to be illegal or otherwise unenforceable, in whole or in part, then the remaining provisions will
nevertheless be binding and enforceable. 

  

	 	(j)	 Choice of Law; Jurisdiction. This Agreement and all claims, causes of action or proceedings (whether in
contract, in tort, at law or otherwise) that may be based upon, arise out of or relate to this Agreement will be governed by the laws of the State of Delaware, excluding any conflicts or choice-of-law rule or principle that might otherwise refer construction or interpretation of this Agreement to the substantive law of another jurisdiction. The Participant agrees that he or she will bring all
claims, causes of action and proceedings (whether in contract, in tort, at law or otherwise) that may be based upon, arise out of or be related to the Plan and this Agreement exclusively in the federal and state courts located within the geographic
boundaries of the United States District Court for the Eastern District of Pennsylvania (the “Chosen Court”), and hereby (i) irrevocably submits to the 

  
 5 

	 	
exclusive jurisdiction of the Chosen Court, (ii) waives any objection to laying venue in any such proceeding in the Chosen Court, (iii) waives any objection that the Chosen Court is an
inconvenient forum or does not have jurisdiction over any party and (iv) agrees that service of process upon such party in any such claim or cause of action will be effective if notice is given in accordance with this Agreement.

  

	 	(k)	Signature in Counterparts. This Agreement may be signed in counterparts, manually or electronically, each of which will be an original, with the same effect as if the signatures to each were upon the same
instrument. 

  

	 	(l)	Acceptance. The Participant hereby acknowledges receipt of a copy of the Plan and this Agreement. The Participant has read and understands the terms and provisions of the Plan and this Agreement, and accepts the
Option subject to all of the terms and conditions of the Plan and this Agreement. In the event of a conflict between any term or provision contained in this Agreement and a term or provision of the Plan, the applicable term and provision of the Plan
will govern and prevail. 

 [Signature page follows.] 

  
 6 

 IN WITNESS WHEREOF, the Company and the Participant have executed this Stock Option Award Agreement as of the
Date of Grant. 
  

							
	PARTICIPANT	 		 	PQ GROUP HOLDINGS INC.

							
				
	  
	 		 	By:	 	  

		 		 		 	

 [Signature Page – Stock Option Award Agreement] 

 EXHIBIT A 

NOTICE OF EXERCISE 
 PQ Group Holdings
Inc. 
 [Address 1] 
 [Address 2] 

Attention: General Counsel 
 Date of Exercise:
_________________ 
 Ladies & Gentlemen: 

1. Exercise of Option. This constitutes notice to PQ Group Holdings Inc. (the “Company”) that, pursuant to my PQ Group
Holdings Inc. 2017 Omnibus Incentive Plan Stock Option Award Agreement, dated             , 20     (the “Award Agreement”), I elect to purchase the
number of Shares set forth below for the price set forth below. Capitalized terms used and not otherwise defined in this notice will have the meanings ascribed to those terms in the Award Agreement. By signing and delivering this notice to the
Company, I hereby acknowledge that I am the holder of the Option exercised by this notice and have full power and authority to exercise the Option. 
  

									
		 	Number of Shares as to which Option is exercised (“Optioned Shares”):	 		 	  
	 	
					
		 	Shares to be issued in name of:	 		 	  
	 	
					
		 	Date of Grant:	 		 	  
	 	
					
		 	Total Purchase Price:	 		 	  
	 	

 2. Delivery of Payment. With this notice, I hereby deliver to the Company the full exercise price of the
Optioned Shares and any and all Withheld Taxes due in connection with the exercise of my Option, subject to satisfaction of the Purchase Price and any and all Withheld Taxes in any other manner consistent with the Award Agreement and the Plan. 

3. Rights as Stockholder. While the Company will endeavor to process this notice in a timely manner, I acknowledge that, until the
issuance of the Optioned Shares (or, in the Committee’s discretion, in un-certificated form, upon the books of the Company’s transfer agent) and my satisfaction of any other conditions imposed by the
Committee pursuant to the Plan or as set forth in the Award Agreement, no right to vote or receive dividends or any other rights as a stockholder will exist with respect to the Optioned Shares, notwithstanding the exercise of my Option. No
adjustment will be made for a dividend or other right for which the record date is prior to the date of issuance of the Optioned Shares. 

 4. Interpretation. Any dispute regarding the interpretation of this notice will be
submitted promptly by me or by the Company to the Committee. The resolution of such a dispute by the Committee will be final and binding on all parties. 

5. Entire Agreement. The Plan and the Award Agreement under which the Optioned Shares were granted are incorporated herein by reference
and, together with this notice, constitute the entire agreement of the parties with respect to the subject matter of this notice. 
  

					
		 	Very truly yours,	 	
			
	Signature:	 	  
	 	
			
	Name:	 	  
	 	
			
	Address:	 	  
	 	
			
	Social Security Number:	 	  
	 	

  
 A-2

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