Document:

EX-10.13

 Exhibit 10.13 
  

			
	

	 	 ZOBELE HOLDING S.P.A.
 Via Fersina, 4 – 38123
Trento – Italy
 Tel. (+39) 0461 303700. Fax (+39) 0461 303790

e-mail: info@zobele.com www.zobele.com

  

 To: 

Roberto Schianchi, Eng. 
 Via Lidice 3 

43123 Parma 
 Trento, November 2, 2010 

Dear Mr. Schianchi, 
 Pursuant to the agreements made, we
hereby confirm your hiring, with a permanent contract and with the status of Executive, according to the National Collective Contract for Companies Producing Goods and Services under the conditions that follow. The work relationship, which begins as
of today by the express desire of both parties, is not subject to a probationary period. 
 1)    Position 

Your position will be General Manager, and as such you will be responsible for coordinating the activities of the Group in carrying out
the strategic objectives defined with the shareholders. In carrying out your duties, you will be responsible for your work to the Board of Directors of the company. 

You have also been appointed and may be from time to time confirmed – with the resolution of the competent bodies and without any
compensation in addition to what was established in point 3, below – as Member of the Board of Directors and the Chief Executive Officer of the company, with the powers that are useful and functional to the exercise of such duties, which were
and will be determined by the Board of Directors of the company. You confirm that you accept these positions and agree to accept such positions if they should be confirmed in the future as well as any additional duties that may be attributed in
other companies of the Group. 
 2)    Workplace 

The workplace will be at the office of the company in Trento at Via Fersina, 4. The Company reserves the right, and you henceforth
except, to change the office where your work activity is carried out in accordance with company needs. 

  

			
	

	 	 Share Capital €881,871 fully paid up – Trento Economic & Administrative Index 193604 –

Business Registry – Tax ID Code and VAT no. 05460820961 – Italian Foreign Exchange Office Registration 39025

Single Shareholder Z Beta SA’RL – Subsidiary of Z Beta SA’RL

			
	

	 	 ZOBELE HOLDING S.P.A.
 Via Fersina, 4 – 38123
Trento – Italy
 Tel. (+39) 0461 303700. Fax (+39) 0461 303790

e-mail: info@zobele.com www.zobele.com

  

 The activities for which you are responsible may nonetheless require frequent travel
and stays for which you have guaranteed your full availability 
  

	3)	 Remuneration 

Your remuneration will be composed of the following components: 

a)    Gross annual remuneration 

Your gross annual remuneration (annual salary) will amount to €314,000.00 (three
hundred and fourteen thousand) and will be paid, according to the provisions of the CCNL (Contratto collettivo nazionale di lavoro [National Collective Labor Agreement]) for Executives of Companies that Produce Goods and Services, in 13 monthly
payments. 
 This remuneration is to be understood to also compensate for the activity, and connected responsibility, that you will
undertake in the exercise of the duties and delegations attributed to you at the company and the Group, except for the duties that may be assigned at Z Beta S.àr.l. It therefore remains understood that you will not be owed any emoluments for
the company positions of Administrator and Chief Executive Officer held in the company and the other duties that may be assigned in other companies of Group and that the compensation that may be resolved in your favor for such reason must be repaid
by you to the company, and you must renounce such compensation, except for any compensation resolved for you by Z Beta S.àr.l., which you will have the right to keep. 

b)    Bonus System 

In consideration of your position in the company, starting January 2011, you will participate in an incentive system whose target bonus
will be 40% of the gross annual remuneration, as identified above and as of December 31 of the year of accrual. The bonus, which may be reproportioned pro quota, will be disbursed in application of company policies on the topic which
they govern, among others, the maximum scope of the same in cases where the results achieved exceed certain thresholds agreed with the ownership. 

c)    Entry Bonus 

Zobele Holding S.p.A., starting the month of your entry into the company, will make available for your benefit the one-time payment of the gross amount of €250,000.00 (two hundred and fifty thousand). This sum, which will be paid out on an exceptional basis without any direct
reference to work 

  

			
	

	 	 Share Capital €881,871 fully paid up – Trento Economic & Administrative Index 193604 –

Business Registry – Tax ID Code and VAT no. 05460820961 – Italian Foreign Exchange Office Registration 39025

Single Shareholder Z Beta SA’RL – Subsidiary of Z Beta SA’RL

			
	

	 	 ZOBELE HOLDING S.P.A.
 Via Fersina, 4 – 38123
Trento – Italy
 Tel. (+39) 0461 303700. Fax (+39) 0461 303790

e-mail: info@zobele.com www.zobele.com

  

 performance, will have no effect on directed and deferred remuneration except for the
TFR (trattamento di fine rapporto [severance pay]), which will constitute the basis for calculation. 
 d)    Company car

 The Company will make an automobile available according to the methods and in accordance with the current car policy pro
tempore. The model of the car, which will be at the level of the Audi A6, will be defined in direct agreement with you. This provision will be subject to legal social security and tax withholdings. 

e)    Lodging 

For the first 12 months of your hiring, expenses for lodging near the company office, within the limit of a total overall maximum of €16,000.00 (sixteen thousand), will be paid by the company. 

f)    Supplementary pension fund 

Zobele Holding S.p.A. will pay into a pension fund selected by you an annual net sum of
€30,000.00 (thirty thousand). 
 g)    Medical insurance 

You and the members of your family will be enrolled in an insurance fund to cover medical expenses, supplementary to FASI (Fondo
Assistenza Sanitaria Integrativa [Supplementary Health Assistance Fund]), using the method set out by current policies. 

h)    Life and accident insurance 

An insurance policy will be taken out in your interest (or multiple policies as needed) for death and accident which will guarantee
your assignees, in case of death, a sum equal to €3,000,000 (three million). This sum is in addition to what is already due in application of the provisions of the applicable National Contract
pro tempore. 
 i)    Annual medical checkup 

The costs of an annual medical checkup will be borne by the company directly or through suitable insurance coverage. 

 

	4)	 Moving expenses 

  

			
	

	 	 Share Capital €881,871 fully paid up – Trento Economic & Administrative Index 193604 –

Business Registry – Tax ID Code and VAT no. 05460820961 – Italian Foreign Exchange Office Registration 39025

Single Shareholder Z Beta SA’RL – Subsidiary of Z Beta SA’RL

			
	

	 	 ZOBELE HOLDING S.P.A.
 Via Fersina, 4 – 38123
Trento – Italy
 Tel. (+39) 0461 303700. Fax (+39) 0461 303790

e-mail: info@zobele.com www.zobele.com

  

 The Company agrees to pay, within reasonable limits, the moving expenses that you
incur in order to move to be near the company office. 
  

	5)	 Obligations of diligence and loyalty 

5.1 You agree to promptly review and carry out all appropriate investigations with regard to regulations from time to time applicable
to the work relationship and your activities, meaning all of provisions of law, regulation, circulars, collective contracts, and other regulatory sources that may from time to time be applicable to the relationship, as well as the policies, company
rules, company codes of ethics (or similar or analogous documents), organizational Models under Legislative Decree no. 231/01, adopted from time to time by the company and by the Group or in effect in any case (“Applicable Governance”).

 5.2 You agree to carry out your activities to the best of your abilities and knowledge, in strict adherence to and careful
compliance with the Applicable Governance and in compliance with the ethical values and rectitude appropriate to your role and responsibilities and the overall image of the Group. 

5.3 You agree to act with the diligence required by the nature of your duties, tasks, or powers, and therefore provide, including and
in particular, support and coverage to of any deficiencies or inefficiencies of your colleagues or collaborators, including when these fall outside of your specific duties and incumbencies, with any eye toward pursuit of the best overall results and
best quality of company activity understood as a whole. 
  

	6)	 Exclusivity of service 

You agree to refrain from carrying out, while the relationship is in effect, any other work activity in any form in which it may
present (employed work, freelance, collaborations, partnerships, etc.) even if not in competition with the work of the company or other companies of Group, as well as to construct, directly or through an agent, companies or individual firms, and
from acquiring or holding significant shares of companies, even if they are not in competition with the company or other companies of Group, without the express prior written authorization of the company. 

 

	7)	 Confidentiality obligations 

During your collaboration with Zobele Holdings S.p.A., you, also in accordance with current policies, are required not to reveal,
directly or indirectly, secret or confidential information regarding the activities carried out by the companies of the Group; for example, but not limited to, recalling information regarding 

  

			
	

	 	 Share Capital €881,871 fully paid up – Trento Economic & Administrative Index 193604 –

Business Registry – Tax ID Code and VAT no. 05460820961 – Italian Foreign Exchange Office Registration 39025

Single Shareholder Z Beta SA’RL – Subsidiary of Z Beta SA’RL

			
	

	 	 ZOBELE HOLDING S.P.A.
 Via Fersina, 4 – 38123
Trento – Italy
 Tel. (+39) 0461 303700. Fax (+39) 0461 303790

e-mail: info@zobele.com www.zobele.com

  

 
the organization, methods of production, procedures, products, company rights, know-how, as well as information regarding clients, suppliers, and partners
revealed to you due to the activities you perform. This obligation of confidentiality will remain in effect even after the cessation of the work relationship, and if violated the company will be entitled to receive from you a penalty equal to 75% of
the gross annual remuneration as determined under 3a). 
  

	8)	 Termination of the work relationship 

The parties, as a best offer, have contractually established that in case of termination of the work relationship, including consequent
to transfer of ownership of the company as well as change of position (Arts. 13 and 16 CCNL November 24, 2004), the possible substitute payment for lack of notice, as well as the supplementary payments that may be owed in application of the
Labor Agreement in effect pro tempore, will be calculated on an increasing basis determined by the following items: 
  

	-	 gross annual remuneration, as of the date of cessation; 

 

	-	 average of the most recent bonuses received in application of the bonus system policy (according to the provisions
of Art. 2121 of the Italian Civil Code); 

 this increasing basis will increase by 50%, and will be the basis for
calculation of the possible monthly remuneration due to you, according to what is set out by the applicable norms of the Labor Agreement currently in effect. 

It remains understood that withdrawal from the work relationship for just cause by the company and/or revocation for just cause of the
company positions of Member of the Board of Directors and/or Chief Executive Officer of the company and/or of any of the other companies of the Group will constitute just cause for the company and/or for the companies of the Group for withdrawal
from all remaining aforesaid duties or relationships. 
  

	9)	 Non-compete agreement 

9.1 After the cessation of your work relationship with Zobele Holding S.p.A., whatever the cause of the cessation of that relationship,
you will be required to refrain from carrying out in Europe, under Art. 2125 of the Italian Civil Code, neither personally nor through an intermediary, any activity in competition with the activity currently carried out by the companies of the
Zobele Group, as well as carry out your own work for a company, association, agency, organization in any way carrying out activities competitive with those of the group. 

  

			
	

	 	 Share Capital €881,871 fully paid up – Trento Economic & Administrative Index 193604 –

Business Registry – Tax ID Code and VAT no. 05460820961 – Italian Foreign Exchange Office Registration 39025

Single Shareholder Z Beta SA’RL – Subsidiary of Z Beta SA’RL

			
	

	 	 ZOBELE HOLDING S.P.A.
 Via Fersina, 4 – 38123
Trento – Italy
 Tel. (+39) 0461 303700. Fax (+39) 0461 303790

e-mail: info@zobele.com www.zobele.com

  

 You also agree not to acquire, directly or indirectly, shares of participation or
stocks in companies or firms that carry out such activities within the same geographical area. 
 9.2 The duration of this non-compete agreement is set for 1 year, starting from the day of the cessation of your employed work relationship with Zobele Holding S.p.A.. 

9.3 For the commitment that you assume with this non-compete agreement, Zobele Holding S.p.A.
will pay you, after the cessation of the work relationship, in four quarterly payments in arrears, a sum equal to 75% of your gross annual remuneration as determined under 3a). 

If you violate the limitations posed by this noncompete agreement, you must pay the company a penalty amount equal to 75% of your gross
annual remuneration as determined under 3a). 
 For purposes of allowing Zobele Holdings S.p.A. to control its accurate fulfillment
of the obligations above, you agree henceforth to communicate to the company, by registered letter with return receipt, any activities that may be carried out during the period covered by such commitments within 10 days after their start. You are
also obligated to immediately inform Zobele Holding S.p.A., again by registered letter with return receipt, of any change to your work situation, by and no later than 15 days from the date of such change, as well as to provide additional information
and clarifications that may be requested from you by the same deadline of 15 days from receipt of the request by the company. 
 If
you fail to comply with this obligation to communicate, you will be required to pay Zobele Holding S.p.A. a penalty of €250 for each day of delay, notwithstanding the continuing efficacy of your
obligations. 
 With regard to anything not expressly mentioned, please refer to the National Collective Labor Contract for “Executives of
Companies that Produce Goods and Services”. 
 Best regards. 
  

	
	Zobele Holding S.p.A.
	 /s/ Enrico Zobele

  

					
	Signature for acceptance	 	
 /s/ Roberto Schianchi                      
      
	  	                

  

			
	

	 	Share Capital €881,871 fully paid up – Trento Economic & Administrative Index 193604 – Business Registry – Tax ID Code and VAT no. 05460820961 –Italian Foreign Exchange Office Registration 39025
Single Shareholder Z Beta SA’RL – Subsidiary of Z Beta SA’RL

 Exhibit 10.13 
  

			
	

	 	 ZOBELE HOLDING S.P.A.
 Via Fersina, 4 — 38123
Trento — Italy
 Tel. (+39) 0461 303700. Fax (+39) 0461 303790

e-mail: info@zobele.com www.zobele.com

  
  

Egregio Ing. 

Roberto Schianchi 

Via Lidice 3 

43123 Parma 

Trento, 2 novembre 2010 
 Egregio Ing. Schianchi,

 Facendo seguito agli accordi intercorsi, con Ia presente Le confermiamo Ia sua assunzione, con contratto a tempo indeterminato e con Ia qualifica
di Dirigente, secondo il Contratto nazionale per le Aziende Produttrici di Beni e Servizi alle condizioni di cui di seguito. II rapporto di lavoro che si costituisce dalla data odierna per volontà espressa delle parti non è soggetto a
periodo di prova. 
  

	1)	 lncarico 

II suo incarico sarà quello di Direttore Generale e come tale lei sarà responsabile del coordinamento delle
attività del Gruppo nella realizzazione degli obiettivi strategici definiti con gli azionisti. Nello svolgimento delle mansioni lei rispondera del proprio operato al consiglio di amministrazione della società. 

Lei è stato altresi nominato e potrà essere di tempo in tempo confermato - previa delibera da parte degli organi competenti
e senza alcun ulteriore compenso rispetto a quello stabilito al successive punto 3 - Consigliere di Amministratore e Amministratoro Delegato (Chief Executive Officer) della societa, con i poteri, utili e funzionali all’esercizio di tali
mansioni, che sono stati e saranno determinati dal consiglio di amministrazione della società. Lei conferma l’accettazione di tali cariche, e si impegna ad accettare le medesime cariche qualora le venissero confermate in futuro nonche le
eventuali ulteriori cariche che le potranno essere attribuite in altre societa del Gruppo. 
  

	2)	 Luogo di lavoro 

II luogo di lavoro sarà presso Ia sede della società in Trento Via Fersina, 4. La societa si riserva, e lei sin d’ora accetta, di
modificare Ia sede di svolgimento dell’attività di lavoro in accordo con le esigenze aziendali. 
 L’attività alla quale lei
è preposto può comportare nondimeno frequenti viaggi e trasferte per le quali lei ha garantito piena disponibilità. 
  

			
	

	 	 Cap. Soc. € 881.871 i.v. - R.E.A. di Trento 193604- Reg. lmprese- Codice Fiscale e P. IVA 05460820961 – lscrizione U.I.C. 39025

Socio unico Z Beta SA’.R.L. - Soggetta a direzione e controllo di Z. Beta SA’.R.L.

			
	

	 	 ZOBELE HOLDING S.P.A.
 Via Fersina, 4 — 38123
Trento — Italy
 Tel. (+39) 0461 303700. Fax (+39) 0461 303790

e-mail: info@zobele.com www.zobele.com

  

	3)	 Trattamento retributivo 

II suo trattamento retributivo si comporrà dei seguenti elementi: 

 

	 	a)	 Retribuzione annua lorda 

La Sua retribuzione annua lorda (trattamento economico annuo) ammonterà a
€ 314.000,00 (trecentoquattordicimila) e sarà corrisposta, secondo le disposizioni del CCNL peri Dirigenti di Aziende Produttrici di Beni e Servizi, in 13 mensalità. 

Tale trattamento retributivo è da intendersi remunerativo anche dell’attività, e connesse responsabilità, che lei
andra a svolgere nell’esercizio delle cariche e deleghe attribuitele nell’ambito della societa e del Gruppo, ad eccezione delle cariche eventualmente ricoperte in Z Beta S.ar.l. Resta dunque inteso che non Le sara dovuto alcun emolumento
in relazione alle cariche sociali di Amm inistratore e di Amministratore Delegato ricoperte nella società e alle altre cariche eventualmente nelle altre società del Gruppo e che i compensi eventualmente deliberati a Suo favore a tale
titolo dovranno essere da Lei riversati a favore della Società, con conseguente rinuncia da parte Sua a detti compensi, ad eccezione di eventuali compensi deliberati a suo favore da parte di Z Beta S.àr.l., che lei avrà invece il
diritto di trattenere. 
  

	 	b)	 Sistema Premiante 

In considerazione della posizione ricoperta in azienda, con decorrenza da gennaio 2011, lei parteciperà ad un sistema di
incentivazione il cui bonus al target è determinato nel valore del 40% della retribuzione annua lorda, come sopra identificata e come risultante al 31 dicembre dell’anno di maturazione. II premio che sarà eventualmente riproporzionato
pro quota, sarà erogato in applicazione delle politiche aziendali in materia che regoleranno, tra l’altro, l’entità massima dello stesso nell’ipotesi in cui i risultati conseguiti eccedano determinate soglie convenute con Ia
proprietà. 
  

	 	c)	 Entry Bonus 

Zobele Holding S.p.A. con le competenze del mese del suo ingresso in azienda disporrà a suo vantaggio il pagamento, a titolo di una
tantum, di una somma lorda pari ad Euro 250.000 (ducentocinquantamila). Tale somma che viene pagata eccezionalmente senza alcun riferimento diretto alla esecuzione della prestazione di lavoro, non avrà incidenza sugli istituti di retribuzione
indiretta e differita ad esclusione del trattamento di fine rapporto (TFR) del quale costituirà base di calcolo. 
  

	 	d)	 Auto aziendale 

La Società provvedera a metterle a disposizione un’automobile secondo modalità ed in accordo con Ia car policy aziendale
pro tempore vigente. II modello di auto che sara della fascia della Audi A6 

  

			
	

	 	 Cap. Soc. € 881.871 i.v. - R.E.A. di Trento 193604- Reg. lmprese- Codice Fiscale e P. IVA 05460820961 – lscrizione U.I.C. 39025

Socio unico Z Beta SA’.R.L. - Soggetta a direzione e controllo di Z. Beta SA’.R.L.

			
	

	 	 ZOBELE HOLDING S.P.A.
 Via Fersina, 4 — 38123
Trento — Italy
 Tel. (+39) 0461 303700. Fax (+39) 0461 303790

e-mail: info@zobele.com www.zobele.com

  

 sarà definito in diretto accordo con lei. Tale provvidenza sarà sottoposta
al trattamento contributive e fiscale di Iegge. 
  

	 	e)	 Alloggia 

Per i primi 12 mesi dalla sua assunzione, le spese di alloggio in prossimità della sede sociale, nel limite di un costo massimo
complessivo di 16.000 (sedicimila) euro, saranno a carico dall’azienda. 
  

	 	f)	 Fondo pensioni Supplementare 

Zobele Holding S.p.A. procederà a versare ad un fondo pensione da lei scelto un somma annuale netta pari ad Euro 30.000
(trentamila). 
  

	 	g)	 Assicurazione medica 

Lei ed i membri della sua famiglia verrete inscritti ad un fondo assicurativo per Ia copertura delle spese mediche, integrative del
FASI, con le modalità previste dalle pelitiche in essere. 
  

	 	h)	 Assicurazione vita ed infortuni 

Nel suo interesse verrà stipulata una polizza assicurativa ( o più polizze secondo necessità) morte ed infortuni
che garantirà agli aventi diritto, in caso di morte, una somma pari ad Euro 3.000.000 (tremilioni). Tale somma è aggiuntiva a quella già spettante in applicazione delle disposizioni del Contratto Nazionale pro tempre
applicabile. 
  

	 	i)	 Check-up medico annuale 

I costi di un check-up medico annuale saranno assunti dalla società direttamente o per il
tramite di idonea copertura assicurativa. 
  

	4)	 Trasloco 

L’azienda si impegna a farsi carico, nel limite della ragionevolezza delle spese di trasloco che lei sosterrà per
trasferirsi in prossimità della sede sociale. 
  

	5)	 Obblighi di diligenza e fedeltà 

5.1 Lei si impegna a prendere tempestiva visione e compiere ogni opportune approfondimento in ordine alia normativa di tempo in tempo
applicabile al rapporto di lavoro e alia sua attività, per tale intendendosi l’insieme di tutte le disposizioni di leggi, regolamenti, circolari, contratti collettivi ed altre fonti normative che risultassero di tempo in tempo
applicabili al rapporto, nonchè di policies, regolamenti aziendali, codici etici aziendali (o documenti equipollenti o analoghi), modelli 

  

			
	

	 	 Cap. Soc. € 881.871 i.v. - R.E.A. di Trento 193604- Reg. lmprese- Codice Fiscale e P. IVA 05460820961 – lscrizione U.I.C. 39025

Socio unico Z Beta SA’.R.L. - Soggetta a direzione e controllo di Z. Beta SA’.R.L.

			
	

	 	 ZOBELE HOLDING S.P.A.
 Via Fersina, 4 — 38123
Trento — Italy
 Tel. (+39) 0461 303700. Fax (+39) 0461 303790

e-mail: info@zobele.com www.zobele.com

  

 organizzativi ex D. Lgs. n. 231/01, di tempo in tempo adottati dalla società e
dal Gruppo o comunque in vigore (Ia “Disciplina Applicabile”). 
 5.2 Lei si impegna a rendere Ia propria attività al
meglio delle proprie capacità e conoscenze, in rigida coerenza e nell’attentoris petto della Disciplina Applicabile e nel rispetto di valori etici e di rettitudine consoni al ruolo e aile responsabilita ricoperte e all’immagine
complessiva del Gruppo. 
 5.3 Lei si impegna ad operare con Ia diligenza richiesta dalla natura delle proprie mansioni, cariche o
poteri, fornendo dunque, anche ed in particolare, supporto e copertura ad eventua li mancanze o inefficienze di propri colleghi o collaboratori, anche ove ciò esulasse dai propri specifici compiti ed incombenze, nell’ottica del
perseguimento del miglior risultato complessivo e della ricerca della miglior qualità dell’attivit aaziendale complessivamente intesa. 
  

	6)	 Esclusività della prestazione 

Lei si impegna ad astenersi dallo svolgere, in costanza di rapporto, qualsiasi altra attività lavorativa, !n qualsiasi forma essa
si presenti (lavoro subordinate, autonomo, collaborazioni, associazioni in partecipazione, etc.) anche non in concorrenza con quella della società o di altre società del Gruppo, cosl come dal costituire, direttamente o per interposta
persona, società o ditte individuali, e dall’acquisire o detenere quote significative di società anche non in concorrenza con Ia società o altre società del Gruppo, salvo preventiva ed espressa autorizzazione scritta da
parte della società. 
  

	7)	 Obblighi di riservatezza 

Durante Ia sua collaborazione con Zobele Holding S.p.A., lei, in omaggio anche alle politiche vigenti, sarà tenuto a non rivelare,
direttamente o indirettamente, informazioni segrete o riservate relative all’attività svolta dalle aziende del Gruppo; a titolo esemplificativo e non esaustivo si ricordano le informazioni attinenti l’organizzazone, i metodi di
produzione, le procedure, i prodotti, i diritti societari, il know-how, cosl come le informazioni attinenti a clienti, fornitori e partner che saranno da Lei conosciute in ragione dell’attività
svolta. Tale obbligo di riservatezza resterà in vigore anche successivamente alia cessazione del rapporto di lavoro e nel caso di sua violazione darà titolo alia società di ricevere da lei una somma a titolo di penale pari al
75% della retribuzione annua lorda come determinata sub 3 a). 
  

	8)	 Risoluzione del rapporto di lavoro 

Le parti, quale condizione di miglior favore, hanno convenzionalmente stabilito che nella ipotesi di risoluzione del rapporto di lavoro,
anche conseguente a trasferimento di proprietà dell’azienda cosl come al mutamento di posizione (artt. 13 e 16 CCNL 24 novembre 2004), l’eventuale indennità 

  

			
	

	 	 Cap. Soc. € 881.871 i.v. - R.E.A. di Trento 193604- Reg. lmprese- Codice Fiscale e P. IVA 05460820961 – lscrizione U.I.C. 39025

Socio unico Z Beta SA’.R.L. - Soggetta a direzione e controllo di Z. Beta SA’.R.L.

			
	

	 	 ZOBELE HOLDING S.P.A.
 Via Fersina, 4 — 38123
Trento — Italy
 Tel. (+39) 0461 303700. Fax (+39) 0461 303790

e-mail: info@zobele.com www.zobele.com

  

 sostitutiva del mancato preavviso, così come le indennità supplementari
eventualmente spettanti in applicazione del Contratto di Lavoro come pro tempore vigente, saranno calcolate su un montante determinate dai seguenti elementi: 

	 	–	 retribuzione annua lorda, come in essere alia data della cessazione; 

	 	–	 media degli ultimi bonus percepiti in applicazione della politica sui sistema premiante (secondo quanto previsto
dall’art. 2121 c.c.); 

 tale montante sarà maggiorato del 50%, e su di esso verranno calcolate le
mensilità retributive eventualmente a lei spettanti, secondo quanto previsto dalle applicabili norme del Contratto di Lavoro come pro tempore vigente. 

Resta inteso che il recesso dal rapporto di lavoro per giusta causa da parte della società e/o Ia revoca per giusta causa delle
cariche sociali di Consigliere di Amministratore e/o di Amministratore Delegate della società e/o di una qualsiasi delle altre società del Gruppo costituiranno per Ia società e/o per le società del Gruppo giusta causa di
recesso da tutti i restanti predetti incarichi o rapporti. 
  

	9)	 Patto di non concorrenza 

9.1 Successivamente alia cessazione del suo rapporto di lavoro con Zobele Holding S.p.A., qualunque sia Ia causa della cessazione del
rapporto medesimo, lei sarà tenuto a non svolgere in Europa, ai sensi dell’art 2125 CC né personalmente né per interposta persona alcuna attività in concorrenza con quelle attualmente esercitate dalle società del
Gruppo Zobele, così come di prestare Ia propria opera a favore di societa, associazioni, enti, organizzazioni comunque svolgenti attivita concorrenti con quelle del gruppo. 

Lei s’impegna altresì a non assumere nè direttamente nè indirettamente quote di partecipazione o azioni in
società o ditte che svolgono tali attività nello stesso ambito territoriale. 
 9.2 La durata di tale patto di non
concorrenza viene fissata in 1 anno, a decorrere dal giorno della cessazione del suo rapporto di lavoro subordinate con Zobele Holding S.p.A. 

9.3 A fronte dell’impegno che ella si assume con il presente patto di non concorrenza Zobele Holding S.p.A. le pagherà, dopo
Ia cessazione del rapporto di lavoro, in quattro rate trimestrali posticipate una somma pari al 75% della retribuzione annua lorda come determinata sub 3 a). 

Nel caso di violazione da parte sua delle limitazioni poste da questo patto di non concorrenza lei sarà tenuto a pagare alia
società una somma a titolo di penale pari al 75 % della retribuzione annua lorda come determinata sub 3 a). 
 Allo scopo
di consentire a Zobele Holding S.p.A. il controllo dell’esatto adempimento da parte sua degli obblighi che precedono, lei si impegna sin d’ora a comunicare alia società, con lettera raccomandata a.r., le attività
eventualmente svolte durante il periodo coperto da tali impegni entro i 10 giorni successivi dal relative inizio. Lei inoltre si obbliga ad informare immediatamente Zobele 

  

			
	

	 	 Cap. Soc. € 881.871 i.v. - R.E.A. di Trento 193604- Reg. lmprese- Codice Fiscale e P. IVA 05460820961 – lscrizione U.I.C. 39025

Socio unico Z Beta SA’.R.L. - Soggetta a direzione e controllo di Z. Beta SA’.R.L.

			
	

	 	 ZOBELE HOLDING S.P.A.
 Via Fersina, 4 — 38123
Trento — Italy
 Tel. (+39) 0461 303700. Fax (+39) 0461 303790

e-mail: info@zobele.com www.zobele.com

  

 Holding S.p.A., sempre con lettera raccomandata a.r., di ogni eventuale cambiamento
della sua situazione lavorativa, entro e non oltre 15 giorni dalla data di tale cambiamento, nonché a fornire le informazioni e i chiarimenti ulteriori che le potranno essere richiesti entro il medesimo termine di 15 giorni dal ricevimento
della richiesta da parte della società. 
 Nel caso di inosservanza di tale obbligo di comunicazione lei sarà tenuto al
pagamento in favore di Zobele Holding S.p.A. di una penale pari a Euro 250 per ogni giorno di ritardo, ferma Ia perdurante efficacia dell’obbligo a suo carico. 

Per quanta sopra non espressamente menzionato si fa riferimento al Contratto Collettivo Nazionale di Lavoro per i “Dirigenti di Aziende produttrici
di Beni e Servizi”. 
 Cordiali saluti. 
  

	
	Zobele Holding S.p.A.
	 /s/ Enrico Zobele

  

					
	Firma per accettazione	  	/s/ Roberto Schianchi	  	            

  

			
	

	 	 Cap. Soc. € 881.871 i.v. - R.E.A. di Trento 193604- Reg. lmprese- Codice Fiscale e P. IVA 05460820961 – lscrizione U.I.C. 39025

Socio unico Z Beta SA’.R.L. - Soggetta a direzione e controllo di Z. Beta SA’.R.L.EX-10.14

 Exhibit 10.14 

 
 

 
 EMPLOYMENT AGREEMENT 

EMPLOYMENT AGREEMENT (this “Agreement”) by and between Knowlton Development Corporation Inc. (the
“Company”) and Ian Kalinosky (“Executive”), dated April 1, 2021. 
 WHEREAS, the Company
desires to continue to employ the Executive and to enter into the terms of this Agreement embodying the terms of such employment, and Executive desires to enter into this Agreement and to accept such employment, subject to the terms and provisions
of this Agreement, effective as of the Effective Date. 
 WHEREAS, Executive’s tenure with the Company began on March 1,
2013 and Executive served as Division President and President, Specialty Retail since Executive’s initial start of employment as provided for in Executive’s Offer Letter dated December 19, 2012 (the “Offer Letter”).

 NOW, THEREFORE, in consideration of the mutual agreements, provisions and covenants contained herein, and intending to be legally
bound hereby, the parties hereto agree as set forth below: 
  

	1.	 Term; Definitions. 

 

	 	(a)	 The term of Executive’s employment under this Agreement shall commence on the Effective Date and shall
continue indefinitely, provided, however, that Executive’s employment under this Agreement may be terminated at any time pursuant to the provisions of Section 4. The period of time from the Effective Date through the termination of
Executive’s employment hereunder pursuant to its terms is herein referred to as the “Term.” For purposes of this Agreement, the following terms, as used herein, shall have the definitions set forth below. 

“Affiliate” means, with respect to any specified Person, any other Person that directly or indirectly, through one or more
intermediaries, Controls, is Controlled by or is under common Control with such specified Person; provided that, in any event, any business in which the Company has any direct or indirect ownership interest shall be treated as an Affiliate of the
Company. 
 “Control” (including, with correlative meanings, the terms “Controlled by” and “under
common Control with”), as used with respect to any Person, means the direct or indirect possession of the power to direct or cause the direction of the management or policies of such Person, whether through the ownership of voting
securities, by contract or otherwise. 
 “Governmental Entity” means any national, state, county, local, municipal or other
government or any court of competent jurisdiction, administrative agency or commission or other governmental authority or instrumentality. 

“Person” means any individual, firm, corporation, partnership, limited liability company, trust, estate, joint venture,
association, Governmental Entity, unincorporated entity or other entity. 

	2.	 Duties and Responsibilities. 

 

	 	(a)	 During the Term, Executive agrees to be employed by and devote all of Executive’s business time and
attention to the Company and the promotion of its interests and the performance of Executive’s duties and responsibilities hereunder, upon the terms and conditions of this Agreement. Executive shall render Executive’s services hereunder as
President of Specialty Retail Business Unit of the Company, with such duties and responsibilities as directed from time to time by the Chief Executive Officer of the Company or the board of directors of the Company (the “Board”),
commensurate with Executive’s status and consistent with Executive’s position hereunder. 

  

	 	(b)	 During the Term, Executive’s principal place of employment shall be in Columbus, Ohio. Executive
acknowledges that Executive’s duties and responsibilities shall require Executive to travel on business to the extent necessary to fully perform Executive’s duties and responsibilities hereunder. 

 

	 	(c)	 During the Term, Executive shall use Executive’s best efforts to faithfully and diligently serve the
Company and shall not act in any capacity that is in conflict with Executive’s duties and responsibilities hereunder; provided, however, that Executive may manage Executive’s personal investments and affairs, participate in non-profit, educational, religious, community or philanthropic activities, in each case, to the extent that such activities do not interfere with the performance of Executive’s duties under this Agreement, are
not in conflict with the business interests of the Company and are disclosed to the Company. Except as provided in the preceding sentence, during the Term, Executive shall not be permitted to become engaged in or render business related services for
any Person other than the Company and its Affiliates, and shall not be permitted to become a member of the board of directors of any for-profit Person, in any case without the consent of the Company, which
consent may not be unreasonably withheld by the Company. 

  

	3.	 Compensation and Related Matters. 

 

	 	(a)	 Base Salary. During the Term, for all services rendered under this Agreement, Executive shall receive an
aggregate annual base salary (the “Base Salary”) at a rate of $400,000, payable in accordance with the Company’s applicable payroll practices. References in this Agreement to “Base Salary” shall be deemed to refer to
the most recently effective annual base salary rate. The Base Salary shall be reviewed annually by the Board and may be increased, but not decreased, in the sole discretion of the Board. 

 

	 	(b)	 Annual Bonus. During the Term, for each fiscal year commencing with the fiscal year that ends on
April 30, 2021, Executive shall be eligible to participate in an annual bonus plan, with the opportunity to earn a cash bonus with a target of fifty percent (50%) of Base Salary if specific annual performance targets are met (the
“Annual Bonus”). The Board shall determine, in its sole discretion, such performance targets and whether they have been met. For fiscal year 2021, the Annual Bonus shall be pro-rated based on
Executive’s target bonus amount and the number of days Executive is actually employed during such fiscal year. The Annual Bonus for any fiscal year, if any, shall be payable in the year following the year to which such bonus relates within
thirty (30) days following the date upon which the Board receives the audited consolidated financial statements of the Company for such fiscal year, subject to the terms of Section 4. 

 

	 	(c)	 Benefits and Perquisites. During the Term, Executive shall be entitled to participate in any benefit
plans and programs, commensurate with Executive’s position, that are provided by the Company from time to time for its senior management executives generally, which currently include health, dental and vision coverage, short and long-term
disability, life insurance and participation in the Company’s 401(k) savings plan, subject to the terms and conditions of such plans and programs (collectively, the “Benefit Plans”). The Company does not promise the
adoption or continuance of any particular Benefit Plan and reserves the right to amend or cancel any Benefit Plan at any time in its sole discretion (subject to the terms of such Benefit Plan and applicable law). 

  
 - 2 - 

	 	(d)	 Business Expense Reimbursements. During the Term, the Company shall promptly reimburse Executive for
Executive’s reasonable, necessary and documented business expenses incurred in connection with performing Executive’s duties hereunder in accordance with its then-prevailing policies and procedures for expense reimbursement (which shall
include appropriate itemization and substantiation of expenses incurred). 

  

	 	(e)	 Vacation. Executive shall be entitled to four (4) weeks of paid vacation per year to be taken at
such times as may be mutually agreed by Executive and the Company in accordance with the Company’s vacation policy in effect from time to time. 

  

	 	(f)	 Car Allocation. During the Term, the Company shall pay to Executive a car allowance equal to one
thousand three hundred ($1,300) per month. The Company shall also pay or reimburse Executive, upon presentation of receipts, for all reasonable car expenses actually and properly incurred by him in connection with his duties in accordance with the
Company’s expense policy. 

  

	4.	 Termination of Employment. 

 

	 	(a)	 Subject to the immediately following paragraphs (b), (c), (d) and (e), Executive’s employment may be
terminated by either party hereto at any time and for any reason. Notwithstanding the foregoing, Executive’s employment shall automatically terminate upon Executive’s death. 

 

	 	(b)	 Following termination of Executive’s employment for any reason, the obligations of the Company to pay or
provide Executive with compensation and benefits under Section 3 shall cease, and the Company shall have no further obligations to provide compensation or benefits to Executive hereunder, except (i) for payment of any accrued but unpaid
Base Salary and for payment of any accrued obligations and unreimbursed expenses under Section 3 accrued or incurred through the date of termination of employment, (ii) if Executive’s employment is terminated by the Company for Cause,
for payment of any Annual Bonus earned in respect of the fiscal year prior to the fiscal year in which termination of employment occurs but unpaid as of the date of termination of employment, (iii) as explicitly set forth in any other benefit
plans, programs or arrangements applicable to terminated employees in which Executive participates, other than severance plans or policies, (iv) payment for all accrued and unused vacation time through the date of termination of employment,
(v) as otherwise provided in Section 4(c) and (vi) as otherwise expressly required by applicable law. The payments referred to in Section 4(b)(i), (ii) and (iv) shall be paid as soon as practicable and in all events within
thirty (30) days following the termination of employment, or earlier as required by law. In addition to the foregoing, in the event that Executive’s employment is terminated as a result of his death or Disability, the Company shall pay to
Executive an Annual Bonus for the then-current fiscal year based on actual performance for such year, pro-rated from the first date of such fiscal year through Executive’s last date of continued active
employment and, payable when the Annual Bonus for such year would otherwise have been payable under Section 3(b) 

  

	 	(c)	 had Executive’s employment not been terminated. For purposes of this Agreement, “continued active
employment” means Executive is actively performing his duties continuously and without interruption and excludes any period of notice of resignation or payment in lieu of notice whether pursuant to applicable law, contract or further to a
judgment rendered by a tribunal of competent jurisdiction, as the case may be. 

  
 - 3 - 

	 	(d)	 (i) If Executive’s employment is terminated by the Company without Cause (other than due to death or
Disability) or by Executive’s resignation for Good Reason, Executive shall be entitled to receive (A) continued payment of Executive’s monthly Base Salary during the twelve (12)-month period (the “Severance
Period”) immediately following such termination consistent with the Company’s payroll practice; and (B) continuation during the Severance Period of the health insurance benefits under the terms of the applicable Company
benefit plans in which Executive was participating immediately prior to termination of employment, subject to the Company’s continuation of such benefit plans for its employees and to Executive’s payment of the cost of such benefits to the
same extent that active employees of the Company are required to pay for such benefits from time to time; and to the terms and conditions of the applicable plan and the consent of the carrier; provided, further, that such continuation coverage shall
end earlier upon Executive’s becoming eligible for comparable coverage under another employer’s benefit plans. 

  

	 	(ii)	 Any severance payments or benefits under Section 4(d) shall be (A) conditional upon Executive having
provided within sixty (60) days after the termination of employment an executed and irrevocable waiver and general release of claims (the “Release”) in favor of the Company, its parent and their respective Affiliates, their
respective predecessors and successors, and all of the respective current or former directors, officers, employees, shareholders, partners, members, agents or representatives of any of the foregoing (collectively, the “Released
Parties”), in a form reasonably satisfactory to the Company that has become effective in accordance with its terms, and (B) subject to Executive’s continued compliance with the terms of the restrictive covenants in Sections 6, 7,
8, 9, 10 The severance payments payable under Section 4(d) will commence on the first payroll date following the date the Release becomes effective and irrevocable, with such first installment to include and satisfy all installments that would
have otherwise been made up to such date assuming for such purpose that the installments had commenced on the first payroll date following Executive’s termination of employment. 

 

	 	(iii)	 For purposes of this Agreement, “Cause” means Executive’s: (A) failure to
substantially perform his duties or obey lawful directives that continues after receipt of written notice from the Company and a ten (10)-day opportunity to cure, or gross negligence in the performance of his
duties; (B) fraud, embezzlement, theft, or any other act of dishonesty or misconduct; (C) conviction of, indictment for, or plea of guilty or nolo contendere to, a felony or any crime involving moral turpitude; (D) material breach or
violation of this Agreement, any restrictive covenant applicable to the Executive, or any Company policy (including, without limitation, with respect to harassment); or (E) other conduct, acts or omissions that, in the good faith judgment of
the Company, are likely to injure the reputation, business or a business relationship of the Company or any of its Affiliates. 

  

	 	(iv)	 For purposes of this Agreement, “Disability” means Executive’s inability, with or without
reasonable accommodation, to perform the essential duties, responsibilities, and functions of his position with the Company as a result of any mental or physical disability or incapacity for a length of time that the Company determines is sufficient
to satisfy such obligations as it may have to provide leave under applicable family and medical leave laws and/or “reasonable accommodation” under applicable federal, state or local disability laws. Family and medical leave or disability
leave provided under federal, state or local law may be unpaid as per the requirements of such laws; provided, however, that Executive shall be entitled to such payments and benefits under the Company’s vacation, sick leave or disability leave
programs as per the terms of such programs. The Company may terminate Executive’s active employment because of a Disability by giving written notice to Executive at any time effective at or within thirty (30) days after the end period of
leave as may be required under the family and medical leave laws or under federal, state or local disability laws, but the Company shall retain Executive as an inactive employee if necessary to maintain Executive’s eligibility for any
disability leave benefits. A reassignment, reduction or elimination of the duties defined in Section 2 because of executive’s inability to perform such duties during any period of a disability leave or during the period Executive is
designated as an inactive employee, or the appointment of a temporary or permanent replacement for Executive during any disability leave, shall not constitute Good Reason under Section 4(c)(v) below. In the event of a dispute over the
occurrence of a Disability, Executive agrees to submit to an examination by a doctor selected by the Company, to whom Executive or Executive’s guardian has no reasonable objection, who will determine fitness for duty. If Executive’s
physician disagrees with the Company’s physician’s opinion, a third physician, mutually agreed upon by Executive and the Company, shall examine Executive and that physician’s opinion shall be conclusive as to Executive’s fitness
for duty. 

  

  
 - 4 - 

	 	(v)	 For purposes of this Agreement, “Good Reason” means the occurrence of any of the following
acts or events without the written consent of Executive: (A) a material and adverse reduction of Executive’s duties, authority, responsibility or reporting relationship; (B) a reduction in the Base Salary or Annual Bonus target;
(C) requiring Executive to relocate to an alternate Company office more than thirty (30) miles from Executive’s principal place of employment; or (D) a material breach of this Agreement by the Company. Notwithstanding the
foregoing, none of the circumstances described above may serve as the basis for “Good Reason” unless (x) Executive notifies the Board in writing of any event constituting “Good Reason” within thirty (30) days following
his knowledge of the initial existence of such circumstance and (y) the Company fails to cure such circumstance within thirty (30) days following receipt of such written notice. Failing such cure, a termination of employment by Executive
for Good Reason shall be effective on the day following the expiration of such cure period. 

  

	 	(e)	 If Executive resigns other than for Good Reason, he shall provide the Company with sixty (60) days prior
notice of his intention to resign. The Company may waive all or part of this notice period. 

  

	 	(f)	 The payment of any amounts accrued under any benefit plan, program or arrangement in which Executive
participates shall be subject to the terms of the applicable plan, program or arrangement, and any elections Executive has made thereunder. The Company may offset any amounts due and payable by Executive to the Company or its subsidiaries against
any amounts the Company owes Executive hereunder. 

  

	 	(g)	 Executive shall have no duty to mitigate damages as a condition of receiving any payment or benefit under this
Section 4, and except to the extent specifically provided for herein, for the avoidance of doubt, no subsequent employment or compensation of Executive with or from any Person shall reduce the obligations of the Company under this
Section 4 other than as described in Section 4 with respect to obtaining alternate employee benefits coverage. 

  

	5.	 Acknowledgments. 

 

	 	(a)	 Executive acknowledges that the Company has expended and shall continue to expend substantial amounts of time,
money and effort to develop business strategies, employee and customer relationships and goodwill and build an effective organization. Executive acknowledges that Executive is and shall become familiar with the Company’s Confidential
Information (as defined below), including trade secrets. Executive acknowledges that the Company has a legitimate business interest and right in protecting its Confidential Information, business strategies, employee and customer relationships and
goodwill, and that the Company would be seriously damaged by the disclosure of Confidential Information and the loss or deterioration of its business strategies, employee and customer relationships and goodwill. 

  
 - 5 - 

	 	(b)	 Executive acknowledges (i) that the business of the Company, its subsidiaries and Affiliates is
international in scope and without geographical limitation and (ii) notwithstanding the jurisdiction of formation or principal office of the Company, its subsidiaries and Affiliates, or the location of any of their respective executives or
employees (including, without limitation, Executive), it is expected that the Company and its subsidiaries and Affiliates will have business activities and have valuable business relationships within their respective industries throughout the world.

  

	 	(c)	 Executive acknowledges that Executive has carefully read this Agreement and has given careful consideration to
the restraints imposed upon Executive by this Agreement, and is in full accord as to the necessity of such restraints for the reasonable and proper protection of the Confidential Information, business strategies, employee and customer relationships
and goodwill of the Company and its subsidiaries and Affiliates now existing or to be developed in the future. Executive expressly acknowledges and agrees that each and every restraint imposed by this Agreement is reasonable with respect to subject
matter, time period and geographical area. Executive further acknowledges that Executive’s compliance with the covenants contained in Sections 6, 7, 8, 9, 10 will not prevent Executive from earning a livelihood, because Executive’s
experience and capabilities are such that Executive has other opportunities to earn a livelihood and adequate means of support for Executive and Executive’s dependents. 

 

	6.	 Non-Competition and
Non-Solicitation. 

  

	 	(a)	 Non-Competition: Executive agrees that Executive shall not,
directly or indirectly, without the prior written consent of the Company while an employee of the Company and during the twelve (12)-month period following the termination of Executive’s employment with the Company for any reason, engage in
activities or businesses (including, without limitation, by owning any interest in, managing, controlling, participating in, consulting with, advising, rendering services for or in any manner engaging in the business of owning, operating or managing
any business) in all or any part of North America or any other country or region in which the Company or its Affiliates conduct or solicit business or, as of the date of the termination of Executive’s employment, are planning to conduct or
solicit business (the “Territory”) that (i) are principally or primarily in the business of product development, formulation and manufacturing for established and emerging beauty, personal care and home/industrial care
companies, (ii) otherwise directly or indirectly compete with the business of the Company and its Affiliates or (iii) involve any prospective business which is actively sought or being sought by the Company and its Affiliates. In the case
of the immediately preceding clauses (ii) and (iii), the other business must directly or indirectly compete with the business of the Company and its Affiliates at some point during Executive’s employment and the prospective business must
be actively sought by the Company and its Affiliates at some point during Executive’s employment. Furthermore, in the case of the immediately preceding clauses (ii) and (iii), Executive must have had access to and/or obtained knowledge of
Confidential Information concerning, and/or been involved with, the business of prospective business at some point during Executive’s employment (the “Business”). 

 

	 	(b)	 Non-Solicitation of Customers, Prospective Customers and
Suppliers: Executive agrees that Executive shall not, directly or indirectly, without the prior written consent of the Company while an employee of the Company and during the twenty-four (24)-month period following the termination of
Executive’s employment with the Company: 

  
 - 6 - 

	 	(i)	 canvass or solicit the business of, or procure or assist the canvassing or soliciting of the business of any
Customer, Prospective Customer or Supplier with whom or which Executive materially interacted during the Term or about whom or which Executive received confidential information during the Term for any purpose which is in competition, in whole or in
part, with the Business; 

  

	 	(ii)	 procure or assist the procurement of any business from any Customer or Prospective Customer with whom or which
Executive materially interacted during the Term or about whom or which Executive received confidential information during the Term, for any purpose which is in competition, in whole or in part, with the Business, in all or part of the Territory; or

  

	 	(iii)	 interfere or attempt to interfere with the Business or persuade or attempt to persuade any Customer,
Prospective Customer or Supplier with whom Executive materially interacted during the Term or about whom Executive received confidential information during the Term to discontinue or alter in an adverse manner such Person’s relationship with
the Business. 

 For the purposes of this Agreement, the following definitions shall apply: 

“Customer” means any and all Persons who, to Executive’s knowledge, have purchased the goods or services of the
Company or its Affiliates in connection with the Business at any time during the one (1)-year period immediately preceding the termination of Executive’s employment; 

“Prospective Customer” means any and all Persons who, to Executive’s knowledge, were canvassed or solicited to
purchase the goods or services of the Company or its Affiliates in connection with the Business at any time during the one (1)-year period immediately preceding the termination of Executive’s employment; and 

“Supplier” means any and all Persons who, to Executive’s knowledge, have supplied goods or services to the Company or its
Affiliates in connection with the Business at any time during the one (1)-year period immediately preceding the termination of Executive’s employment. 
  

	 	(c)	 Non-Solicitation of Employees and Service Providers: Executive
agrees that Executive shall not, directly or indirectly, without the prior written consent of the Company while an employee of the Company and during the twenty-four (24)-month period following the termination of Executive’s employment with the
Company: 

  

	 	(i)	 solicit the employment or service of, or otherwise induce or entice away from the employment or service of the
Company or its Affiliates, any individual who, to Executive’s knowledge, is employed by the Company or its Affiliates or any Person whose services are, to Executive’s knowledge, retained by the Company or its Affiliates at the time of the
termination of Executive’s employment or who was, to Executive’s knowledge, employed by the Company or its Affiliates or whose services were, to Executive’s knowledge, retained by the Company or its Affiliates in the six (6)-month
period immediately preceding the termination of Executive’s employment (the “Restricted Persons”), whether or not such Restricted Person would commit any breach of his or her contract of employment or services agreement by
reason of leaving the employment or the service of the Company or its Affiliates; or 

  
 - 7 - 

	 	(ii)	 procure or assist any Person to offer employment to or solicit the employment or service of, or otherwise
entice away from the employment or service of, the Company any Restricted Person. 

 Notwithstanding the foregoing,
Section 6(c) shall not apply to any employment or engagement as a result of an advertisement for employment that is not specifically targeted at such Restricted Person. 
  

	 	(d)	 The provisions of Section 6 shall not be deemed breached as a result of Executive’s passive ownership
of: (i) less than an aggregate of two percent (2%) of any class of securities of a Person engaged, directly or indirectly, in activities that are competitive with the Business, so long as Executive does not actively participate in the business
of such Person; provided, however, that such stock is listed on a national securities exchange; or (ii) less than an aggregate of five percent (5%) in value of any instrument of indebtedness of a Person engaged, directly or indirectly, in
activities that are competitive with the Business. 

  

	 	(e)	 If a final and non-appealable judicial or arbitral determination is
made that any of the provisions of this Section 6 constitutes an unreasonable or otherwise unenforceable restriction against Executive, the provisions of this Section 6 will not be rendered void but will be deemed to be modified to the
minimum extent necessary to remain in force and effect for the longest period and largest geographic area that would not constitute such an unreasonable or unenforceable restriction. Moreover, and without limiting the generality of Section 13,
notwithstanding the fact that any provision of this Section 6 is determined not to be subject to specific enforcement, the Company will nevertheless be entitled to recover monetary damages as a result of Executive’s breach of such
provision. 

  

	7.	 Nondisclosure of Confidential Information. 

 

	 	(a)	 Executive acknowledges that the Confidential Information obtained by Executive while employed by the Company
and its subsidiaries and Affiliates is the property of the Company or its subsidiaries and Affiliates, as applicable. Therefore, Executive agrees that Executive shall not disclose to any unauthorized Person or use for Executive’s own purposes
any Confidential Information, except in connection with the performance of his duties under this Agreement or the enforcement of his rights under this Agreement, as may be required by law or otherwise, without the prior written consent of the
Company, unless and to the extent that the aforementioned matters become generally known to and available for use by the public other than as a result of Executive’s acts or omissions in violation of this Agreement; provided, however, that if
Executive receives a request to disclose Confidential Information pursuant to a deposition, interrogation, request for information or documents in legal proceedings, subpoena, civil investigative demand, governmental or regulatory process or similar
process, (i) Executive shall promptly notify in writing the Company, and consult with and assist the Company in seeking a protective order or request for other appropriate remedy, (ii) in the event that such protective order or remedy is
not obtained, or if the Company waives compliance with the terms hereof, Executive shall disclose only that portion of the Confidential Information which, based on the written advice of Executive’s legal counsel, is legally required to be
disclosed and shall exercise reasonable best efforts to provide that the receiving Person shall agree to treat such Confidential Information as confidential to the extent possible (and permitted under applicable law) in respect of the applicable
proceeding or process and (iii) the Company shall be given an opportunity to review the Confidential Information prior to disclosure thereof. 

  
 - 8 - 

	 	(b)	 For purposes of this Agreement, “Confidential Information” means information, observations and
data concerning the business or affairs of the Company and its subsidiaries and Affiliates, including, without limitation, all business information (whether or not in written form) which relates to the Company, its subsidiaries or Affiliates, or
their customers, suppliers or contractors or any other third parties in respect of which the Company or its subsidiaries or Affiliates has a business relationship or owes a duty of confidentiality, or their respective businesses or products, and
which is not known to the public generally other than as a result of Executive’s breach of this Agreement, including but not limited to: technical information or reports; formulas; trade secrets; unwritten knowledge and “know-how”; operating instructions; training manuals; customer lists; customer buying records and habits; product sales records and documents, and product development, marketing and sales strategies; market
surveys; marketing plans; profitability analyses; product cost; long-range plans; information relating to pricing, competitive strategies and new product development; information relating to any forms of compensation or other personnel-related
information; contracts; and supplier lists. Confidential Information will not include such information known to Executive prior to Executive’s involvement with the Company or its subsidiaries or Affiliates or information rightfully obtained
from a third party (other than pursuant to a breach by Executive of this Agreement). Without limiting the foregoing, Executive and the Company each agrees to keep confidential the existence of, and any information concerning, any dispute between
Executive and the Company or its subsidiaries and Affiliates, except that Executive and the Company each may disclose information concerning such dispute to the court that is considering such dispute or to their respective legal counsel (provided
that such counsel agrees not to disclose any such information other than as necessary to the prosecution or defense of such dispute). 

  

	 	(c)	 Except as expressly set forth otherwise in this Agreement, Executive agrees that Executive shall not disclose
the terms of this Agreement, except to Executive’s immediate family and Executive’s financial and legal advisors, or as may be required by law or ordered by a court. Executive further agrees that any disclosure to Executive’s
financial and legal advisors will only be made after such advisors acknowledge and agree to maintain the confidentiality of this Agreement and its terms. 

  

	 	(d)	 Executive further agrees that Executive will not improperly use or disclose any confidential information or
trade secrets, if any, of any former employers or any other Person to whom Executive has an obligation of confidentiality, and will not bring onto the premises of the Company, its subsidiaries or Affiliates any unpublished documents or any property
belonging to any Person to whom Executive has an obligation of confidentiality unless consented to in writing by the former employer or other Person. 

  

	 	(e)	 Executive understands that nothing contained in this Agreement limits Executive’s ability to file a charge
or complaint with the Equal Employment Opportunity Commission, the National Labor Relations Board, the Occupational Safety and Health Administration, the Securities and Exchange Commission or any other federal, state, provincial or local
governmental agency or commission (“Government Agencies”). Executive further understands that this Agreement does not limit Executive’s ability to communicate with any Government Agencies or otherwise participate in any
investigation or proceeding that may be conducted by any Government Agency, including providing documents or other information, without notice to the Company. This Agreement does not limit Executive’s right to receive an award for information
provided to any Government Agency. Further, the Company hereby provides notice to Executive pursuant to 18 U.S.C. §1833 that an individual may not be held criminally or civilly liable under any federal or state trade secret law for the
disclosure of a trade secret that: (i) is made (A) in confidence to a federal, state, provincial or local government official, either directly or indirectly, or to any attorney; and (B) solely for the purpose of reporting or
investigating a suspected violation of law; or (ii) is made in a complaint or other document that is filed under seal in a lawsuit or other proceeding. Further, an individual who files a lawsuit for retaliation by an employer for reporting a
suspected violation of law may disclose the employer’s trade secrets to the attorney and use the trade secret information in the court proceeding if the individual: (A) files any document containing the trade secret under seal; and
(B) does not disclose the trade secret, except pursuant to court order. Executive is advised to consult an attorney prior to disclosing any trade secrets or Confidential Information as such immunity is only applicable in limited situations.

  
 - 9 - 

	8.	 Return of Property. 

Executive acknowledges that all notes, memoranda, specifications, devices, formulas, records, files, lists, drawings, documents, models,
equipment, property, computer, software or intellectual property relating to the businesses of the Company and its subsidiaries and Affiliates, in whatever form (including electronic), and all copies thereof, that are received or created by
Executive while an employee of the Company or its subsidiaries or Affiliates (including but not limited to Confidential Information and Inventions (as defined below)) are and shall remain the property of the Company and its subsidiaries and
Affiliates, and Executive shall immediately return, or immediately dispose of, in the case of copies, such property to the Company upon the termination of Executive’s employment and, in any event, at the Company’s request. Executive
further agrees that any property situated on the premises of, and owned by, the Company or its subsidiaries or Affiliates, including disks and other storage media, filing cabinets or other work areas, is subject to inspection by Company’s
personnel at any time with or without notice. 
  

	9.	 Intellectual Property Rights. 

 

	 	(a)	 Executive agrees that the results and proceeds of Executive’s services for the Company or its subsidiaries
or Affiliates (including, but not limited to, any trade secrets, products, services, processes, know-how, designs, developments, innovations, analyses, drawings, reports, techniques, formulas, methods,
developmental or experimental work, improvements, discoveries, inventions, ideas, source and object codes, programs, matters of a literary, musical, dramatic or otherwise creative nature, writings and other works of authorship) resulting from
services performed while an employee of the Company and any works in progress for the Company whether or not patentable or registrable under copyright or similar statutes, that were made, developed, conceived or reduced to practice or learned by
Executive, either alone or jointly with others for the Company (collectively, “Inventions”), shall be works-made-for-hire and the Company (or, if
applicable or as directed by the Company, any of its subsidiaries or Affiliates) shall be deemed the sole owner throughout the universe of any and all trade secret, patent, copyright and other intellectual property rights (collectively,
“Proprietary Rights”) of whatsoever nature therein, whether or not now or hereafter known, existing, contemplated, recognized or developed, with the right to use the same in perpetuity in any manner the Company determines in its
sole discretion, without any further payment to Executive whatsoever. If, for any reason, any Inventions shall not legally be a work-made-for-hire and/or there are any
Proprietary Rights which do not accrue to the Company (or, as the case may be, any of its subsidiaries or Affiliates) under the immediately preceding sentence, then Executive hereby irrevocably assigns and agrees to assign any and all of
Executive’s right, title and interest thereto, including any and all Proprietary Rights of whatsoever nature therein, whether or not now or hereafter known, existing, contemplated, recognized or developed, to the Company (or, if applicable or
as directed by the Company, any of its subsidiaries or Affiliates), and the Company or such subsidiaries or Affiliates shall have the right to use the same in perpetuity throughout the universe in any manner determined by the Company or such
subsidiaries or Affiliates without any further payment to Executive whatsoever. As to any Invention that Executive is required to assign, Executive shall promptly and fully disclose to the Company all information known to Executive concerning such
Invention. Executive hereby confirms that it was always the intention of the parties hereto that the Company own any right, title, and interest throughout the world in and to any such Invention. 

  
 - 10 - 

	 	(b)	 Executive agrees that, from time to time, as may be requested by the Company and at the Company’s sole
cost and expense, Executive shall do any and all things that the Company may reasonably deem useful or desirable to establish or document the Company’s exclusive ownership throughout Canada, the United States of America or any other country of
any and all Proprietary Rights in any such Inventions, including the execution of appropriate copyright and/or patent applications or assignments. To the extent Executive has any Proprietary Rights in the Inventions that cannot be assigned in the
manner described above, Executive unconditionally and irrevocably waives the enforcement of such Proprietary Rights. This Section 9(b) is subject to and shall not be deemed to limit, restrict or constitute any waiver by the Company of any
Proprietary Rights of ownership to which the Company may be entitled by operation of law by virtue of the Company’s being Executive’s employer. Executive further agrees that, from time to time, as may be requested by the Company and at the
Company’s sole cost and expense, Executive shall assist the Company in every proper and lawful way to obtain and from time to time enforce Proprietary Rights relating to Inventions in any and all countries. To this end, Executive shall execute,
verify and deliver such documents and perform such other acts (including appearances as a witness) as the Company may reasonably request for use in applying for, obtaining, perfecting, evidencing, sustaining, and enforcing such Proprietary Rights
and the assignment thereof. In addition, Executive shall execute, verify, and deliver assignments of such Proprietary Rights to the Company or its designees. Executive’s obligation to assist the Company with respect to Proprietary Rights
relating to such Inventions in any and all countries shall continue beyond the termination of Executive’s employment with the Company. 

  

	 	(c)	 Executive hereby waives and quitclaims to the Company any and all claims, of any nature whatsoever, that
Executive now or may hereafter have for infringement of any Proprietary Rights assigned hereunder to the Company. 

  

	10.	 Nondisparagement. 

Executive shall not at any time while an employee of the Company and following termination of Executive’s employment, whether in writing
or orally, malign, denigrate or disparage the Company, its subsidiaries or Affiliates or their respective predecessors and successors, or any of the current or former directors, officers, employees, shareholders, partners, members, agents or
representatives of any of the foregoing, with respect to any of their respective past or present activities, or otherwise publish (whether in writing or orally) statements that tend to portray any of the aforementioned parties in an unfavorable
light. Notwithstanding the foregoing, nothing contained in this Section 10 shall be construed to limit or interfere with Executive’s right to engage in the activities set forth in Section 7(e). The Company shall instruct its Chief
Executive Officer, General Counsel, and chief human resources officer not to, whether in writing or orally, malign, denigrate or disparage Executive. 
  

	11.	 Notification of Subsequent Employer. 

Executive hereby agrees that prior to accepting employment with, or agreeing to provide services to, any other Person during any period during
which Executive remains subject to any of the covenants set forth in Section 6, Executive shall provide such prospective employer with written notice of such provisions of this Agreement, with a copy of such notice delivered simultaneously to
the Company. 

  
 - 11 - 

	12.	 Remedies and Injunctive Relief. 

Executive acknowledges that a violation by Executive of any of the covenants contained in Sections 6, 7, 8, 9, 10 would cause irreparable
damage to the Company in an amount that would be material but not readily ascertainable, and that any remedy at law (including the payment of damages) would be inadequate. Accordingly, Executive agrees that, notwithstanding any provision of this
Agreement to the contrary, the Company shall be entitled (without the necessity of posting any bond or showing economic loss or other actual damage) to seek injunctive relief (including temporary restraining orders, preliminary injunctions and/or
permanent injunctions) in any court of competent jurisdiction for any actual or threatened breach of any of the covenants set forth in Section 6, 7, 8, 9, 10 in addition to any other legal or equitable remedies it may have. The preceding
sentence shall not be construed as a waiver of the rights that the Company may have for damages under this Agreement or otherwise, and all of the Company’s rights shall be unrestricted. Notwithstanding any other provision in this Agreement to
the contrary, the duration of any restrictive covenant in Section 6 of this Agreement shall be tolled during any period of violation of any such covenant, and the duration of the restrictive covenant shall be extended by the number of days
which equals the aggregate of all days during which such violations occurred. 
  

	13.	 Representations of Executive; Advice of Counsel. 

 

	 	(a)	 Executive represents, warrants and covenants that as of the date hereof and as of the Effective Date:

  

	 	(i)	 Executive has the full right, authority and capacity to enter into this Agreement and perform Executive’s
obligations hereunder; 

  

	 	(ii)	 Executive is not bound by any agreement that conflicts with or prevents or restricts the full performance of
Executive’s duties and obligations to the Company hereunder during or after the Term; and 

  

	 	(iii)	 the execution and delivery of this Agreement shall not result in any breach or violation of, or a default
under, any existing obligation, commitment or agreement to which Executive is subject. 

  

	 	(b)	 Prior to execution of this Agreement, Executive was advised by the Company of Executive’s right to seek
independent advice from an attorney of Executive’s own selection regarding this Agreement. Executive acknowledges that Executive has entered into this Agreement knowingly and voluntarily and with full knowledge and understanding of the
provisions of this Agreement after being given the opportunity to consult with counsel. Executive further represents that in entering into this Agreement, Executive is not relying on any statements or representations made by any of the
Company’s directors, officers, employees or agents which are not expressly set forth herein, and that Executive is relying only upon Executive’s own judgment and any advice provided by Executive’s attorney. 

 

	14.	 Cooperation. 

Executive agrees that, upon reasonable notice and without the necessity of the Company obtaining a subpoena or court order, Executive shall
provide reasonable cooperation in connection with any suit, action or proceeding (or any appeal from any suit, action or proceeding), and any investigation and/or defense of any claims asserted against any Released Parties, which relates to events
occurring during Executive’s employment with the Company, its subsidiaries and Affiliates as to which Executive may have relevant information (including but not limited to furnishing relevant information and materials to the Company or its
designee and/or providing testimony at depositions and at trial), provided that any such cooperation occurring after the termination of Executive’s employment shall be scheduled to the extent reasonably practicable so as not to unreasonably
interfere with Executive’s business or personal affairs. 

  
 - 12 - 

	15.	 Withholding; Taxes; Section 409A. 

 

	 	(a)	 The Company may deduct and withhold from any amounts payable under this Agreement such federal, provincial,
state, local, or other taxes as are required or permitted to be withheld pursuant to any applicable law or regulation, as applicable. It is intended that the provisions of this Agreement comply with or are exempt from Section 409A of the U.S.
Internal Revenue Code of 1986, as amended (the “Code”), and all provisions of this Agreement will be construed and interpreted in a manner consistent with the requirements for avoiding taxes or penalties under Section 409A of
the Code. The Company cannot make any representations or guarantees with respect to compliance with such requirements, and neither the Company nor any Affiliate will have any obligation to indemnify Executive or otherwise hold him harmless from any
or all of such taxes or penalties. For purposes of Section 409A of the Code, each installment payment hereunder will be deemed a “separate payment” within the meaning of Treas. Reg.
Section 1.409A-2(b)(iii). With respect to the timing of payments of any deferred compensation payable upon a termination of employment hereunder, references in this letter to “termination of
employment” (and substantially similar phrases) mean “separation from service” within the meaning of Section 409A of the Code. For the avoidance of doubt, it is intended that any expense reimbursement made to Executive hereunder
is exempt from Section 409A of the Code; however, if any expense reimbursement hereunder is determined to be deferred compensation within the meaning of Section 409A of the Code, then (a) the amount of the expense reimbursement during
one taxable year will not affect the amount of the expense reimbursement during any other taxable year, (b) the expense reimbursement will be made on or before the last day of the year following the year in which the expense was incurred and
(c) the right to expense reimbursement hereunder will not be subject to liquidation or exchange for another benefit. 

  

	 	(b)	 Notwithstanding anything in this Agreement to the contrary, if, at the time of termination of employment
hereunder, Executive is deemed to be a “specified employee” of the Company within the meaning of Section 409A of the Code, then (a) only to the extent necessary to comply with the requirements of Section 409A of the Code,
any payments to which Executive is entitled under this Agreement in connection with such termination that are subject to Section 409A of the Code (and not otherwise exempt from its application) that constitute “nonqualified deferred
compensation” for purposes of Section 409A shall be withheld until the first business day of the seventh month following the date of such termination (the “Delayed Payment Date”), (b) on the Delayed Payment Date, Executive
shall receive a lump sum payment in an amount equal to the aggregate amount of such payments that otherwise would have been made to Executive prior to the Delayed Payment Date and (c) following the Delayed Payment Date, Executive shall receive
the payments otherwise due to Executive in accordance with the payment terms and schedule set forth herein. 

  

	16.	 Assignment. 

 

	 	(a)	 This Agreement is personal to Executive and without the prior written consent of the Company shall not be
assignable by Executive, except for the assignment by will or the laws of descent and distribution of any accrued pecuniary interest of Executive, and any assignment in violation of this Agreement shall be void. 

 

	 	(b)	 This Agreement shall be binding on, and shall inure to the benefit of, the parties to it and their respective
heirs, legal representatives, successors and permitted assigns (including, without limitation, in the event of Executive’s death, Executive’s estate and heirs in the case of any payments due to Executive hereunder). 

  
 - 13 - 

	 	(c)	 Executive acknowledges and agrees that all of Executive’s covenants and obligations to the Company, as
well as the rights of the Company hereunder, shall run in favor of and shall be enforceable by the Company and any successor or assign to all or substantially all of the Company’s business or assets. 

 

	17.	 Governing Law; No Construction Against Drafter. 

 

	 	(a)	 This Agreement and the rights and obligations of the parties hereunder, and all claims or causes of action
(whether in contract or tort) arising hereunder shall be governed by and interpreted, construed and enforced in accordance with the laws of the state of Ohio, without regard to its choice of law principles. No provision of this Agreement or any
related document will be construed against or interpreted to the disadvantage of any party hereto by any court or other governmental or judicial authority by reason of such party having or being deemed to have structured or drafted such provision.
Each party hereby hereto irrevocably consents to the jurisdiction of the federal and/or state courts of the state Ohio for all purposes in connection with any action or proceeding that arises out of or relates to this Agreement and agrees that any
action instituted in respect of this Agreement shall be commenced, prosecuted and continued only in such courts, which shall be the exclusive and only proper forum for adjudicating such a claim. Each party hereto expressly and irrevocably waives any
and all objections it may have as to convenience of forum, venue or personal jurisdiction in any such courts. 

  

	 	(b)	 EACH PARTY HERETO HEREBY EXPRESSLY AND IRREVOCABLY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW ALL
RIGHTS TO A TRIAL BY JURY IN ANY SUCH ACTION OR PROCEEDING. EACH PARTY HERETO (i) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF
LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (ii) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.

  

	18.	 Amendment; No Waiver. 

 

	 	(a)	 No provisions of this Agreement may be amended, modified, waived or discharged except by a written document
signed by Executive and a duly authorized officer of the Company (other than Executive). 

  

	 	(b)	 The failure of a party hereto to insist upon strict adherence to any term of this Agreement on any occasion
shall not be considered a waiver of such party’s rights or deprive such party of the right thereafter to insist upon strict adherence to that term or any other term of this Agreement. No failure or delay by either party hereto in exercising any
right or power hereunder will operate as a waiver thereof, nor will any single or partial exercise of any such right or power, or any abandonment of any steps to enforce such a right or power, preclude any other or further exercise thereof or the
exercise of any other right or power. 

  

	19.	 Severability. 

If any term or provision of this Agreement is invalid, illegal or incapable of being enforced by any applicable law or public policy, all other
conditions and provisions of this Agreement shall nonetheless remain in full force and effect so long as the economic and legal substance of the transactions contemplated by this Agreement is not affected in any manner materially adverse to any
party. Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as
closely as possible in a mutually acceptable manner in order that the transactions contemplated hereby be consummated as originally contemplated to the fullest extent possible. 

  
 - 14 - 

	20.	 Entire Agreement. 

This Agreement constitutes the entire agreement and understanding between the Company and Executive with respect to the subject matter hereof
and supersedes all prior agreements and understandings (whether written or oral), between Executive and the Company, relating to such subject matter, including the Offer Letter. Neither of the parties hereto shall be liable or bound to any other
party in any manner by any representations and warranties or covenants relating to such subject matter except as specifically set forth herein. Notwithstanding the foregoing, the obligations of Executive under this Agreement constitute separate and
independent obligations from his obligations under any other agreement, and the rights of either party hereto under this Agreement are in addition to, and not in substitution for, any rights under any such other agreement. The Company is not bound
to exercise any right or remedy, and the exercise of rights and remedies under this Agreement is without prejudice to the rights of the Company in respect of any other agreement. 

 

	21.	 Survival. 

The rights and obligations of the parties hereto under the provisions of this Agreement shall survive, and remain binding and enforceable,
notwithstanding the termination of Executive’s employment hereunder or any settlement of the financial rights and obligations arising from Executive’s employment hereunder, to the extent necessary to preserve the intended benefits of such
provisions. 
  

	22.	 Notices. 

All notices or other communications required or permitted to be given hereunder shall be in writing and shall be delivered by hand or sent by
facsimile or sent, postage prepaid, by registered, certified or express mail or overnight courier service and shall be deemed given when so delivered by hand or facsimile, or if mailed, three days after mailing (one business day in the case of
express mail or overnight courier service) to the parties hereto at the following addresses or facsimiles (or at such other address for a party as shall be specified by like notice): 

 

			
	If to the Company, to:	  	Knowlton Development Corporation Inc.
		  	255 Roland Therrien Boulevard
		  	Longueuil, QC J4H 4A6
		  	Canada
		  	Attention:         Nicholas Whitley
		  	Email:              nwhitley@kdc-one.com
		
	with a copy to:	  	Cornell Capital LLC
		  	499 Park Avenue, 21st Floor
		  	New York, NY 10022
		  	Attention:         Emily Pollack
		  	Email:              emily@cornellcapllc.com
		
	If to Executive, to:	  	At Executive’s primary residence on file with the Company.

 Executive hereby agrees to promptly provide the Company with written notice of any change in
Executive’s address for so long as this Agreement remains in effect. Notices delivered by facsimile shall have the same legal effect as if such notice had been delivered in person. 

  
 - 15 - 

	23.	 Headings and References. 

The headings of this Agreement are inserted for convenience only and neither constitute a part of this Agreement nor affect in any way the
meaning or interpretation of this Agreement. When a reference in this Agreement is made to a Section, such reference shall be to a Section of this Agreement unless otherwise indicated. 

 

	24.	 Counterparts. 

This Agreement may be executed in one or more counterparts (including via facsimile and electronic image scan (pdf)), each of which shall be
deemed to be an original, but both of which together shall constitute one and the same instrument and shall become effective when one or more counterparts have been signed by each of the parties hereto and delivered to the other party hereto. 

 

	25.	 Attorneys’ Fees. 

In the event that an action or proceeding is brought to enforce any provision of this Agreement, the substantially prevailing party shall be
entitled to recover its reasonable attorneys’ fees and costs from the non-prevailing party. 

[signature page follows] 

  
 - 16 - 

 

 
 IN WITNESS WHEREOF, this Agreement has been duly executed by the parties hereto as of the date first written above.

  

					
	KNOWLTON DEVELOPMENT CORPORATION INC.
		
	By:	 	 /s/ Nicholas E. Whitley

		 	Name:	 	Nicholas E. Whitley
		 	Title:	 	President & Chief Executive Officer
	
	 /s/ Ian Kalinosky

	Ian Kalinosky

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