Document:

Executive Transition Agreement with Brian K. Hutchison

 Exhibit 10.2 
 RTI BIOLOGICS, INC. 
 EXECUTIVE TRANSITION AGREEMENT 

WITH BRIAN K. HUTCHISON 
 AGREEMENT made as of the 29th day of August, 2012 (the “Effective Date”), by and between RTI BIOLOGICS, INC. (the “Company”) and BRIAN K. HUTCHISON (the “Executive”). 

WHEREAS, the Board of Directors of the Company (the “Board”) recognizes the possibility of an involuntary termination of
Executive’s employment, whether or not such termination were to occur in the context of a Change in Control (as defined below); and 
 WHEREAS, the Board desires to encourage Executive’s undivided loyalty and attention to the business of the Company, and to ensure that Executive will remain focused on the business of the Company and
will not otherwise be distracted by the possibility of an involuntary termination of employment and/or the possibility of a Change in Control; and 
 WHEREAS, after consulting with its outside compensation advisor, the Board believes it is in the best interests of the Company and its shareholders to terminate the employment agreement between
Regeneration Technologies, Inc. (predecessor to the Company) and Executive dated as of November 30, 2001, as amended (the “Employment Agreement”), and to provide for certain severance payments and benefits to protect Executive
in the event Executive’s employment is involuntarily terminated, all as described in and subject to the terms and conditions set forth in this Agreement. 
 NOW, THEREFORE, the parties agree as follows: 
 1. Definitions. For the
purposes hereof, the following terms shall have the meanings ascribed to them below. 
 (a) “Cause” means
Executive’s (1) conviction or plea of nolo contendre to a felony; (2) commission of fraud or a material act or omission involving dishonesty with respect to the Company or its subsidiaries, (3) willful and continued failure to
substantially carry out the material responsibilities of Executive’s employment (other than a failure attributable to illness or injury) that is not cured by Executive within a reasonable time after notice thereof is provided by the Board to
Executive; or (4) gross negligence or willful misconduct in the performance of Executive’s duties which has had or is reasonably likely to have a material adverse effect on the Company. 

(b) “Change in Control” means any of the following events: 

(i) the acquisition in one or more transactions by any “Person” (as the term person is used for purposes of
Section 13(d) or 14(d) of the Exchange Act) of “Beneficial Ownership” (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 30% or more of the combined voting power of the Company’s then outstanding
voting securities (the “Voting Securities”), provided, however, that Voting Securities acquired directly from the Company by any Person shall be excluded from the determination of such Person’s Beneficial Ownership of Voting
Securities (but such Voting Securities shall be included in the calculation of the total number of Voting Securities then outstanding); or 

 (ii) the consummation of a merger or consolidation involving the Company if the stockholders
of the Company, immediately before such merger or consolidation, do not own, directly or indirectly immediately following such merger or consolidation, more than 50% of the combined voting power of the outstanding Voting Securities of the
corporation resulting from such merger or consolidation in substantially the same proportion as their ownership of the Voting Securities immediately before such merger or consolidation; or 

(iii) the individuals who, as of the date hereof, are members of the Board (the “Incumbent Board”), cease for any reason
to constitute more than 50% of the Board, provided, however, that if the election, or nomination for election by the Company’s stockholders of any new director was approved by a vote of at least two-thirds of the Incumbent Board, such new
director shall, for purposes of the Plan, be considered as a member of the Incumbent Board, but excluding for this purpose, any such individual whose initial assumption of office occurs as a result of an actual or threatened election contest with
respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a person other than the Board; or 
 (iv) a complete liquidation or dissolution of the Company or the sale or other disposition of all or substantially all of the assets of the Company. 

Notwithstanding the foregoing, a Change in Control shall not be deemed to occur solely because 30% or more of the then outstanding Voting Securities is
acquired by (1) a trustee or other fiduciary holding securities under one or more employee benefit plans maintained by the Company or any of its subsidiaries, or (2) any corporation which, immediately prior to such acquisition, is owned
directly or indirectly by the shareholders of the Company in the same proportion as their ownership of stock in the Company immediately prior to such acquisition. 
 (c) “Company” means RTI Biologics, Inc. and, following a Change in Control, any direct or indirect successor to the business of RTI Biologics, Inc. 

(d) “Good Reason” means any one or more of the following actions or omissions by the Company or an affiliate:

 (i) the assignment to Executive of any duties materially inconsistent with Executive’s position, authority, duties or
responsibilities as in effect immediately prior to such assignment, or any other material diminution in such position, authority, duties or responsibilities; 
 (ii) any material reduction in Executive’s annual base salary or annual bonus opportunity in effect at any time and from time to time; 

(iii) a relocation of Executive’s principal office by more than 150 miles; or 

(iv) the failure or refusal by a successor or acquiring company to expressly assume the obligations of the Company under this Agreement
upon the consummation of a Change in Control. 

  
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 Notwithstanding the foregoing, Executive will not have “Good Reason” to terminate his employment
merely because he is no longer a senior executive of a public company or has a different organizational title as a result of a Change in Control, provided that Executive’s operational duties, responsibilities and authority with respect to the
business of the acquired or company are not otherwise materially diminished. As a condition to terminating his employment for Good Reason, Executive must specify in writing to the Company (or the successor or acquiring company) the nature of the act
or omission that Executive deems to constitute Good Reason and provide the Company (or the successor or acquiring company) 30 days after receipt of such notice to review and, if curable, to correct the situation (and thus prevent Executive’s
termination for Good Reason). Notice of termination for Good Reason must be provided, if at all, within 60 days after the occurrence of the event or condition giving rise to such termination. 

(e) “Severance Event” means a termination of Executive’s employment with the Company and its subsidiaries during
the Term of this Agreement, either (1) by the Company without Cause, or (2) by Executive for Good Reason. 
 (f)
“Termination Date” means the date on which a Severance Event occurs. 
 2. Term of Agreement. Except as
otherwise provided, the term of this Agreement (“Term”) shall expire on the third anniversary of the Effective Date, subject to the right of the Company to extend the Term by giving Executive written notice of the extension prior to
the expiration of the then current Term. If a Change in Control occurs before the expiration of the Term (determined with regard to any extensions), and if the Term would otherwise end within two years after the date of the Change in Control, then
the Term will automatically be extended to the second anniversary of the date of the Change in Control. 
 3. Severance
Protection. 
 (a) Accrued Compensation and Benefits. If a Severance Event occurs, then Executive will be entitled to
receive (1) any earned and unpaid salary, payable on the Company payroll date coincident with or next following the Termination Date; (2) the unpaid amount, if any, of the bonus earned by Executive for the year preceding the year in which
the Termination Date occurs, payable on the later of (A) the date payment of the prior year’s bonus would otherwise be made in the ordinary course of business, consistent with past practice, or (B) on the Company payroll date
coincident with or next following the Termination Date; (3) subject to applicable Company policy, reimbursement of previously unreimbursed expenses that are incurred through the Termination Date and are otherwise eligible for reimbursement, all
in accordance with Company policy relating to the reimbursement of executive expenses; and (4) any vested payments and benefits accrued by Executive through the Termination Date under and in accordance with the terms of any employee plan in
which Executive is or was a participant. 
 (b) Additional Payments and Benefits. If a Severance Event occurs, then,
subject to the provisions hereof, including, without limitation, Section 4 below, Executive will be entitled to receive the following payments and benefits: 
 (i) a cash severance payment (the “Severance Payment”) equal to the product of 2.0 multiplied by the sum of (1) Executive’s annual rate of salary in effect immediately prior to
the Termination Date (or, if greater, the rate in effect as of the beginning of the year preceding the year in which the Termination Date occurs), plus (2) the amount of Executive’s target bonus opportunity for the fiscal year in which the
Termination Date occurs (or, if there is no target bonus for such year, the amount of the bonus earned by Executive for the immediately preceding year), which Severance Payment shall be payable ratably for a period of 24 months following such
termination of employment as if it were salary payable in accordance with the Company’s normal payroll practices, subject to and in accordance with Section 4 below; 

  
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 (ii) accelerated vesting of any stock options, restricted stock units, shares of restricted
stock and other forms of equity-based incentive awards that are not otherwise fully vested on the Termination Date, except to the extent that any vesting is subject to performance targets in years commencing after the Termination Date which have not
yet been attained; and 
 (iii) if, immediately before the Termination Date, Executive and/or Executive’s spouse and/or any
of Executive’s dependents participates (other than via COBRA) in a Company group health plan, then, for 18 months following the Termination Date (or, if sooner, until corresponding coverage is obtained under a successor employer’s plan),
Executive and/or such spouse and/or dependents may elect to continue participating in the Company’s plan at the same benefit and contribution levels and on the same basis as if Executive’s employment had continued (which continuing
participation will be deemed to be in addition to and not in lieu of COBRA), provided, however, that, if the provision of such coverage is not permitted by the plan or by applicable law or would otherwise cause the Company to incur a penalty
or additional tax, then, in lieu of such coverage, the Company will provide COBRA continuation coverage to Executive, and Executive’s spouse and/or dependents, at the Company’s sole expense, if and to the extent any of such persons elects
and is entitled to receive COBRA continuation coverage, and, to the extent required by applicable tax law, the amount of the Company’s COBRA subsidy will be reported as W-2 wage income to Executive. 

4. Release of Claims and Other Conditions; Timing and Form of Payments. 

(a) General. Notwithstanding anything to the contrary contained herein, Executive’s right to receive and retain any severance
payments or benefits listed in Section 3(b) above shall be conditioned upon (a) Executive’s having delivered to the Company, within 60 days after the Severance Event, a valid and binding release, substantially in the form annexed
hereto as Exhibit A, which is no longer subject to revocation; and (b) Executive’s compliance with the restrictive covenants described in Exhibit B annexed hereto (the “Restrictive Covenants”) during the
period over which the Severance Payment is payable in accordance with Section 3(b)(i) above. If Executive timely satisfies the foregoing release condition and continues to then be in compliance with the Restrictive Covenants, the initial
installment of the Severance Payment will be payable on first Company payroll date (the “Initial Payment Date”) next following the date that is 60 days after the date on which Executive’s employment terminates and will include
the payments that would otherwise have been made during such 60-day period. If Executive violates any of the Restrictive Covenants after having received (directly or indirectly) any of the payments or benefits described in Section 3(b), the
Company will be entitled to recoup from Executive the amount of any such payments and the value of any such benefits previously received by Executive, and Executive will not be entitled to receive any further payments or benefits that would
otherwise have been payable or provided to Executive under Section 3(b) after Executive’s violation of the Restrictive Covenants. 

  
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 (b) Effect of Change in Control. If a Change in Control occurs on or after the date
of a Severance Event, then the unpaid balance, if any, of the Severance Payment will be payable in a single sum cash payment on the later of (1) the initial payment date described in the preceding subparagraph, or (2) the date of the
Change in Control. If a Severance Event occurs on or after the date of a Change in Control, then the entire amount of the Severance Payment will be payable in a single sum cash payment on the Initial Payment Date. 

5. Limitation on Parachute Payments. If Executive is entitled to receive payments and benefits under this Agreement and if, when
combined with the payments and benefits Executive is entitled to receive under any other plan, program or arrangement of the Company, Executive would be subject to excise tax under Section 4999 of the Code or the Company would be denied a
deduction under Section 280G of the Code, then Executive will be entitled to receive either (a) the full amount of the such payments and benefits, or (b) a reduced amount having a value equal to one dollar less than three times
Executive’s “base amount” (as such term is defined in Section 280G(b)(3)(A) of the Code), whichever of clauses (a) and (b), after taking into account applicable federal, state, and local income taxes and the
Section 4999 excise tax, results in the receipt by Executive on an after-tax basis, of the greatest amount of payments and benefits. For purposes of determining the after-tax amounts in (a) and (b) above, Executive will be deemed to
pay federal, state and local income tax at the highest marginal rates, net of the maximum reduction in federal income taxes which could be obtained from deduction of such state and local taxes. If there is a reduction of payments and benefits
pursuant to the foregoing, then, unless the parties agree otherwise, such reduction will occur in the following order: (1) any cash severance payable by reference to Executive’s base salary or bonus; (2) any other cash amount payable
to Executive; (3) any benefit valued as a “parachute payment;” and (D) acceleration of vesting of any equity or other incentive awards. 
 6. Termination of Employment Agreement; Effect of Other Agreements. The Employment Agreement is hereby terminated and superseded in its entirety by this Agreement. If any termination or severance
payments or benefits are made or provided to Executive by the Company pursuant to any other agreement between Executive and the Company (other than the Employment Agreement), then the payments and benefits required to be provided under this
Agreement shall be reduced by the amount of the comparable payments and benefits payable under such other agreement(s) in order to avoid duplication. 
 7. No Duty to Mitigate. Except as otherwise specifically provided herein, Executive’s entitlement to payments and benefits hereunder is not subject to mitigation or a duty to mitigate by
Executive. 
 8. Successors and Assigns. The Company shall require any successor or assignee, whether direct or indirect,
by purchase, merger, consolidation, or otherwise, to all or substantially all the business or assets of the Company and its subsidiaries taken as a whole, and as a condition to any such purchase, merger, consolidation or other form of transaction,
expressly and unconditionally to assume and agree to perform or cause to be performed the Company’s obligations under this Agreement. In any such event, the term “Company,” as used herein shall include any such successor or assignee.

  
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 9. Legal Fees to Enforce Rights after a Change in Control. If, following a Change in
Control, the Company fails to comply with any of its obligations under this Agreement or the Company takes any action to declare this Agreement void or unenforceable or institutes any arbitration, litigation or other legal action designed to deny,
diminish or to recover from Executive the payments and benefits intended to be provided, then Executive shall be entitled to select and retain counsel at the expense of the Company to represent Executive in connection with the good faith initiation
or defense of any arbitration, litigation or other legal action, whether by or against the Company or any director, officer, stockholder or other person affiliated with the Company or any successor thereto in any jurisdiction, in connection with the
enforcement by Executive of Executive’s rights hereunder. 
 10. Tax Withholding. The payment of any amount pursuant
to this Agreement shall be subject to all applicable tax withholding. 
 11. Section 409A Compliance. This Agreement
is intended to comply with the applicable requirements of Section 409A of the Code and shall be limited, construed and interpreted in accordance with such intent. A termination of employment will not be deemed to have occurred for purposes of
any provision of this Agreement providing for the payment of any amounts or benefits following or upon a termination of employment (to the extent such payments or benefits are subject to Section 409A) unless such termination also constitutes a
“separation from service” within the meaning of Code Section 409A. Any payment otherwise required to be made to Executive on account of the termination of Executive’s employment, to the extent such payment is properly treated as
deferred compensation subject to the Section 409A of the Code and the regulations and other applicable guidance issued by the Internal Revenue Service thereunder, and only if the Executive is treated as a “specified employee” within
the meaning of Section 409A of the Code at the time of his termination of employment, shall not be made until the first business day after the expiration of six months from the Termination Date or, if earlier, the date of Executive’s
death. On the payment date, as so delayed, there shall be paid to Executive (or Executive’s estate, as the case may be) in a single cash payment an amount equal to the aggregate amount of the payments delayed pursuant to the preceding sentence.
Each payment required under this Agreement will be considered a separate payment for purposes of determining the applicability of or exemption from Section 409A. To the extent that reimbursements or other in-kind benefits under this Agreement
constitute “nonqualified deferred compensation” for purposes of Code Section 409A, (i) all expenses or other reimbursements hereunder will be made no later than the time frame set forth in this Agreement, but in any event, on or
prior to the last day of the taxable year following the taxable year in which such expenses were incurred by Executive, (ii) any right to reimbursement or in-kind benefits will not be subject to liquidation or exchange for another benefit, and
(iii) no such reimbursement, expenses eligible for reimbursement, or in-kind benefits provided in any taxable year will in any way affect the expenses eligible for reimbursement, or in-kind benefits to be provided, in any other taxable year.
Notwithstanding the foregoing, Executive shall be solely responsible, and the Company shall have no liability, for the payment of any taxes, acceleration of taxes, interest or penalties that may be incurred under or as a result of Section 409A
of the Code. 
 12. Not a Contract of Employment. This Agreement shall not be deemed to constitute a contract of
employment between Executive and the Company. Nothing contained herein shall be deemed to give Executive a right to be retained in the employ or other service of the Company or to interfere with the right of the Company to terminate Executive’s
employment at any time. 

  
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 13. Governing Law. This Agreement shall be governed by the laws of the State of
Florida, excluding its conflict of law rules. 
 14. Continuing Indemnification. If Executive is made, or threatened to
be made, a party to any legal action or proceeding, whether civil or criminal, including any governmental or regulatory proceedings or investigations, and whether commencing before or after the termination of Executive’s employment with the
Company and its subsidiaries, by reason of the fact that Executive is or was an employee, officer or director of the Company or any of its subsidiaries, Executive shall be indemnified by the Company, and the Company shall pay Executive’s
related expenses when and as incurred, all to the fullest extent permitted by the laws of the State of Delaware and the Company’s organizational documents and as may be covered by liability insurance, to the same extent as is applicable to
other executive officers of the Company. The foregoing shall be in addition to any other indemnification coverage which Executive may have immediately prior to the Termination Date. 

15. Cooperation. Executive agrees to reasonably cooperate with the Company with respect to any actions that have been or may be
commenced by or against the Company or about which Executive has knowledge, including meeting with the Company’s attorneys and providing testimony at a deposition or at trial. The Company agrees to reimburse Executive for any reasonable
expenses incurred by Executive as a result of his cooperation with the Company with respect to such matters. 
 16.
Counterparts. This Agreement may be executed in separate counterparts, each of which will be an original and all of which taken together shall constitute one and the same agreement, and any party hereto may execute this Agreement by signing
any such counterpart. 
 17. Entire Agreement. This Agreement contains the entire understanding between the parties
hereto with respect to the subject matter hereof and supersedes any prior and/or contemporaneous understandings, agreements or representations, written or oral, relating to the subject matter hereof. This Agreement may be amended only by a written
instrument signed by both parties. 
 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above
written. 
  

			
	RTI BIOLOGICS, INC.
		
	By:	 	 /s/ THOMAS F. ROSE

	Thomas F. Rose, Secretary, EVP and COO
	
	EXECUTIVE:
	
	 /s/ BRIAN K. HUTCHISON

	Brian K. Hutchison

  
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 EXHIBIT A 
 RELEASE AGREEMENT 
 This Release Agreement
(“Agreement”) is made as of                     , 20    by and between Brian K. Hutchison
(“Executive”) and RTI BIOLOGICS, INC. (the “Company”). 
 1. This will confirm that a
Severance Event as described in Section 1(e) of Executive Transition Agreement between Executive and the Company, dated August 29, 2012 (the “Executive Transition Agreement”), has occurred. In accordance with
Section 4 of the Executive Transition Agreement, Executive’s right to receive and retain certain severance payments and benefits under Section 3 of the Executive Transition Agreement is conditioned upon the timely receipt by the
Company of a general release by Executive in favor of the Company, its affiliates and their officers, directors and employees, which is no longer subject to revocation. Accordingly, in consideration of the severance payments and benefits under the
Executive Transition Agreement and other good and valuable consideration, Executive for himself and for the executors and administrators of his estate, his heirs, successors and assigns, hereby releases and forever discharges the Company and its
affiliates and each of its or their current and former officers, directors, employees and stockholders (the “Releasees”) from any and all claims, actions, causes of action, suits, sums of money, debts, dues, accounts, reckonings,
bonds, bills, covenants, contracts, controversies, agreements, promises, demands or damages of any nature whatsoever or by reason of any matter, cause or thing regardless of whether known or unknown at present, which against the Releasees Executive
ever had, now has or may have arising out of or relating to any transaction, dealing, relationship, conduct, act or omission, or any other matters or things occurring or existing at any time prior to and including the date of this Release
(collectively defined herein as “Claims”). This Release includes, but is not limited to, all Claims Executive might have under Title VII of the Civil Rights Act of 1964, as amended, 42 U.S.C. §§2000e, et. seq.; 42
U.S.C. §§1981, et. seq.; the Americans with Disabilities Act, 29 U.S.C. §§2000e, et. seq.; the Age Discrimination in Employment Act; the Older Workers Benefits Protection Act; the federal Family and Medical Leave
Act; Section 451 et. seq.; similar state laws, and any and all statutory and common law causes of action for defamation; slander; slander per se; defamation per se; false light; tortious interference with prospective
business relationships; assault; sexual assault; battery; sexual harassment; sexual discrimination; hostile work environment; discrimination; retaliation; workers’ compensation; wrongful termination; intentional infliction of emotional
distress; breach of a duty or obligation of any kind or description, including any implied covenant of good faith and fair dealing; and for breach of contract or any tort whatsoever, as well as any expenses or attorney’s fees associated with
such Claims. The parties acknowledge that this Release does not either affect the rights and responsibilities of the Equal Employment Opportunity Commission to enforce the Age Discrimination in Employment Act, or justify interfering with the
protected right of an employee to file a charge or participate in an investigation or proceeding conducted by the Equal Employment Opportunity Commission under the Age Discrimination in Employment Act. In the event the Equal Employment Opportunity
Commission commences a proceeding against the Company in which Executive is a named party, Executive agrees to waive and forego any monetary claims which may be alleged by the Equal Employment Opportunity Commission to be owed to Executive.
Notwithstanding the foregoing, nothing in the provisions of this Release shall act as a release by Executive of any Claims against the Company with respect to (i) any amounts or benefits to which Executive may be entitled under and in
accordance with the terms of the Executive Transition Agreement, (ii) any right Executive may have to indemnification under the terms of the Executive Transition Agreement or under the terms of any other applicable indemnification agreement,
the organizational documents of the Company, the terms of any insurance policy, the terms of any Company indemnification policy, the terms of applicable law or otherwise, (iii) Executive’s rights under and in accordance with the terms of
any employee benefit plan in which Executive participates, and (iii) any Claims arising with respect to acts, events or occurrences taking place after the date of this Release. For the purposes hereof, the term “Company” shall include
any direct or indirect successor to the Company. Executive does not waive or release any claims which arise after the date Executive executes this Agreement. 

  
 A-1

 2. Executive has been advised to consult with an attorney prior to executing this Agreement.
By executing this Agreement, Executive acknowledges that (a) he has been provided with an opportunity to consult with an attorney or other advisor of his choice regarding the terms of this Agreement, (b) this is a final offer and Executive
has been given 45 days in which to consider whether he wishes to enter into this Agreement, (c) Executive has elected to enter into this Agreement knowingly and voluntarily and (d) if he does so within fewer than 45 days from receipt of
the final document he has knowingly and voluntarily waived the remaining time. This Agreement shall be fully effective and binding upon all parties hereto immediately upon execution of this Agreement except as to rights or claims arising under the
ADEA, in which case Executive has 7 days following execution of this Agreement to change his mind. 
  

			
	  

	Executive
	
	RTI BIOLOGICS, INC.
		
	By:	 	  

	Title:	 	  

  
 A-2

 EXHIBIT B 
 RESTRICTIVE COVENANTS 
 This Exhibit B is part of, and is
incorporated by reference in, the Executive Transition Agreement (the “Agreement”) to which this Exhibit B is attached. The covenants set forth in this Exhibit B are given by Executive in consideration for the benefits described in
the Agreement and other good and valuable consideration. Unless otherwise specified, the capitalized terms used in this Exhibit B shall have the meanings ascribed to them in the Agreement. 

1. Nondisclosure of Confidential Information; Inventions. 

(i) The Company possesses valuable business and technical information, know-how and trade secrets (whether written or oral) related to
its and its subsidiaries’ current, future and proposed operations and products, including, but not limited to, research, developments, improvements, methods, procedures, discoveries, patents, patent applications, inventions, processes,
formulas, technology, designs, models, drawings, product plans, products, services, customers, customer lists, strategies, studies, business plans, forecasts, markets, techniques, engineering, testing systems, hardware configuration information,
computer software and programs (including source code and related documentation), test and/or experimental data and results, laboratory notebooks, marketing, finances or other business information (herein collectively referred to as
“Confidential Information”). Confidential Information shall include any and all information relating to the Company, and its subsidiaries, affiliates, clients, customers, investors, and joint venture and strategic partners, but
shall not include any information is part of the public domain other than as a result of the Executive’s or another person’s breach of duty to maintain confidentiality. 

(ii) The Executive is an employee of the Company and as such the Company has and will disclose Confidential Information to the Executive.
The Executive shall not communicate the Company’s Confidential Information to any third party without the prior written consent of the Company, and the Executive shall use his best efforts to prevent inadvertent disclosure of the Company’s
Confidential Information to any third party. The Executive hereby acknowledges that he is aware that United States securities laws prohibits any person who has received from an issuer material, non-public information from purchasing or selling
securities of such issuer or from communicating such information to any other person under circumstances in which it is reasonably foreseeable that such person is likely to purchase or sell such securities. 

(iii) In the event that the Executive is requested or required (by oral question or request for information or documents and legal
proceedings, interrogatories, subpoena, civil investigative demand or similar process) to disclose Confidential Information of the Company, or if the Executive is advised by his legal counsel that it is legally required to disclose the Confidential
Information, it is agreed that the Executive (i) will provide the Company prompt notice of any request or requirement, (ii) will provide the Company full and complete cooperation to seek an appropriate order or remedy, (iii) will
cooperate with the Company in obtaining reliable assurances that confidential treatment will be accorded to the disclosure of Confidential Information, and (iv) will, if disclosure of said Confidential Information is required, disclose only
that portion of the Confidential Information which is legally required to be disclosed. 

  
 B-1

 (iv) The Executive will make full and prompt disclosure to the Company of all inventions,
creations, improvements, discoveries, trade secrets, secret processes, technology, know-how, methods, developments, software, and works of authorship or other creative works, whether patentable or not, which are created, made, conceived or reduced
to practice by him or under his direction or jointly with others during his employment by the Company, whether or not during normal working hours or on the premises of the Company (herein collectively referred to as “Developments”).

 (v) The Executive agrees to assign and does hereby assign to the Company (or any person or entity designated by the Company)
all his right, title and interest in and to all Developments and all related patents, patent applications, copyrights and copyright applications; provided, however, that this Section 1(v) shall not apply to Developments that do not relate to
the present or planned business or research and development of the Company and which are made and conceived by the Executive not during normal working hours, not on the Company premises and not using the Company’s tools, devices, equipment or
Confidential Information. 
 (vi) The Executive agrees to cooperate fully with the Company and to take such further actions as
may be necessary or desirable, both during and after his employment with the Company, with respect to the procurement, maintenance and enforcement of copyrights, patents and other intellectual property rights (both in the United States and foreign
countries) relating to Developments. The Executive shall sign all papers, including, without limitation, copyright applications, patent applications, declarations, oaths, formal assignments, assignments of priority rights, and powers of attorney,
which the Company may deem necessary or desirable in order to protect its rights and interests in any Development. The Executive further agrees that if the Company is unable, after reasonable effort, to secure the signature of the Executive on any
such papers, any executive officer of the Company shall be entitled to execute any such papers as the agent and the attorney-in-fact of the Executive, and the Executive hereby irrevocably designates and appoints each executive officer of the Company
as his/her agent and attorney-in-fact to execute any such papers on his/her behalf, and to take any and all actions as the Company may deem necessary or desirable in order to protect its rights and interests in any Development, under the conditions
described in this sentence. 
 (vii) Nothing herein shall be construed as giving the Executive any right in or to the
Confidential Information or Developments or granting the Executive any license under any intellectual property rights. 
 2.
Duty to Return Company Documents and Property. Upon the termination of Executive’s employment with the Company for any reason, Executive shall immediately return and deliver to the Company any and all papers, books, records, documents,
memoranda and manuals, e-mail, electronic or magnetic recordings or data, including all copies thereof, belonging to the Company or any of its subsidiaries or relating to the business of the Company or any of its subsidiaries, in Executive’s
possession, whether prepared by Executive or others. If at any time after the termination of Executive’s employment, Executive determines that Executive has any trade secrets or other confidential information belonging to the Company or any of
its subsidiaries in Executive’s possession or control, Executive shall promptly return to the Company all such trade secrets and other confidential information, including all copies and portions thereof. 

  
 B-2

 3. Non-Solicitation. During the period of Executive’s employment or other
service with the Company and for 24 months thereafter, Executive shall not, without the prior written consent of the Company, directly or indirectly: (a) solicit, request, advise, entice, persuade or induce or hire any employee, consultant, or
independent contractor employed by or working on behalf of the Company or any of its subsidiaries at any time during the 24-month period prior to Executive’s termination of employment with the Company to leave the Company or any of its
subsidiaries or to engage in any activity which, were it done by Executive, would violate the terms hereof (it being understood that a general advertisement or solicitation for employment that is not targeted and that does not have the effect of
being targeted to any current or former Company employee, consultant or independent contractor shall not, by itself, be deemed to be a violation of this part 3(a)); or (b) solicit, request, advise, entice, persuade or induce any individual or
entity, including but not limited to any customer, supplier, vendor, investor, equity or financing source, or other contracting party of the Company or any of its subsidiaries, to terminate, reduce or refrain from continuing or renewing their
present or prospective contractual or business relationship with the Company or any of its subsidiaries. 
 4.
Non-Competition Restrictions. Executive agrees that, for a period of two years following the termination of his employment with the Company for cause and for one year following termination without cause (the “Noncompetition
Period”), Executive will not (1) engage in, perform services for, be associated with, or employed by any person or entity that engages in the same or similar business that the Company is engaging in as of the last date of
Executive’s employment, including but not limited to the business of the recovery, procurement, manufacturing, processing or distribution of bone, tissue, allograph, or xenograph products, or (2) participate in, assist with or in any way
become associated with or employed by any new start-up venture that the parties agree in advance is or will be engaged in the same or similar business of the Company as of the last date of Executive’s employment. Executive acknowledges that
this restrictive covenant is reasonably necessary to protect the Company’s legitimate business interests, which are represented by, among other things, the substantial relationships between the Company and its licensees and tissue sources, as
well as the goodwill established by the Company with licensees and tissue sources in the United States and other countries where the Company’ tissues are distributed over a protracted period, specialized training, and other legitimate business
reasons. Executive recognizes that the Company would not sign this Agreement without the inclusion of this covenant, and Executive confirms the sufficiency of the consideration received by the Executive therefor. The provisions of this Paragraph 4
shall survive the termination of Executive’s employment with the Company and the termination of the Agreement to which document is an Exhibit. 
 5. Remedies. It is intended that, in view of the nature of the Company’s business, the restrictions contained in paragraphs 1 through 4 above are considered reasonable and necessary to protect
the Company’s legitimate business interests and that any violation of these restrictions would result in irreparable injury to the Company. In the event of a breach or threatened breach by Executive of any restrictive covenant contained herein,
the Company shall be entitled to a temporary restraining order and injunctive relief. Nothing contained herein shall be construed as prohibiting the Company from pursuing any other remedies available to it for any breach or threatened breach of
these restrictive covenants, including, without limitation, the recoupment and other remedies specified in the Agreement. These covenants and restrictions shall each be construed as independent of any other provisions in the Agreement, and the
existence of any claim or cause of action by Executive against the Company, whether predicated on the Agreement or otherwise, shall not constitute a defense to the enforcement by the Company of such covenants and restrictions. 

  
 B-3

 6. Severability; Reformation. Should a court determine that any paragraph or
sentence, or any portion of a paragraph or sentence of this Exhibit B is invalid, unenforceable, or void, such determination shall not have the effect of invalidating or validating the remainder of the paragraph, sentence or any other provision of
this Exhibit B. Further, it is intended that the court should construe this Exhibit B by limiting and reducing it only to the extent necessary to be enforceable under then applicable law. 

  
 B-4EX-10.1

 Exhibit 10.1 
 SEVERANCE AGREEMENT 
 THIS SEVERANCE AGREEMENT (this
“Agreement”) is entered into as of September 1, 2012, between MYERS INDUSTRIES, INC., an Ohio corporation (the “Company”), and GREGG BRANNING (the “Executive”). 

RECITALS: 
  

	 	A.	The Company desires to establish certain minimum severance benefits for key management personnel, including the applicable benefits in the event of the Executive’s
termination of employment following a Change in Control, as hereinafter defined. 

  

	 	B.	The Executive’s employment by the Company is employment-at-will and this Agreement is not intended to create, and will not be construed as creating, an express or
implied contract of employment. 

 NOW, THEREFORE, the Company and the Executive agree as follows:

 1. CERTAIN DEFINED TERMS. In addition to terms defined elsewhere herein, the following terms have the following meanings when
used in this Agreement with initial capital letters: 
 (a) “Annual Bonus” means the bonus paid to
executives or other employees of the Company pursuant to a formal or informal bonus plan or individual bonus arrangement. 
 (b) “Base Salary” means the Executive’s annual base salary rate as in effect from time to time; provided, however, that, for purposes of the calculation of any amount owed or due Executive
hereunder, Base Salary shall never be less than as in effect as of the date of this Agreement. 
 (c)
“Board” means the Board of Directors of the Company. 
 (d) “Cause” means: 

(i) commission by the Executive (evidenced by a conviction or written, voluntary and freely given confession) of a
criminal act constituting a felony involving fraud or moral turpitude; 
 (ii) commission by the Executive of a
material breach or material default of any of the Executive’s agreements or obligations under any provision of this Agreement, which is not substantially cured in all material respects within thirty (30) days after the Board gives written
notice thereof to the Executive; 
 (iii) commission by the Executive, when carrying out the Executive’s
Duties under this Agreement, of acts or the omission of any act, which in the reasonable judgment of the Board both (A) constitutes gross negligence or willful misconduct and (B) results in material economic harm to the Company or has a
materially adverse effect on the Company’s operations, properties or business relationships; 

  
 1 

 (iv) commission by the Executive, whether when carrying out the
Executive’s duties or otherwise, of acts or the omission of any act, which in the reasonable judgment of the Board causes or is likely to cause material damage to the reputation or standing of the Company in the business community or the
community as a whole; or 
 (v) failure by Executive to relocate his permanent residence to within fifty
(50) miles of Akron, Ohio on or before May 1, 2013. 
 (e) “Change in Control” means a change
in control of the Company of a nature that would be required to be reported in response to Item 6(e) of Schedule 14A of Regulation 14A promulgated under the Securities Exchange Act of 1934, as amended, as in effect on the date of this Agreement
(the “Exchange Act”), whether or not the Company is then subject to such reporting requirement; provided that, without limitation, a Change in Control shall be deemed to have occurred if: 

(i) any “person” (as defined in Sections 13(d) and 14(d) of the Exchange Act) becomes the “beneficial
owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing twenty percent (20%) or more of the combined voting power of the Company’s then outstanding securities;
provided that a Change in Control shall not be deemed to occur under this clause (i) by reason of the acquisition of securities by the Company or an employee benefit plan (or any trust funding such a plan) maintained by the Company; 

(ii) during any period of one (1) year there shall cease to be a majority of the Board comprised of “Continuing
Directors” as hereinafter defined; or 
 (iii) there occurs (A) a merger or consolidation of the
Company with any other corporation, other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted
into voting securities of the surviving entity) more than eighty percent (80%) of the combined voting power of the voting securities of the Company or such surviving entity outstanding immediately after such merger or consolidation, or
(B) the approval by the stockholders of the Company of a plan of complete liquidation of the Company, or (C) the sale or disposition by the Company of more than fifty percent (50%) of the Company’s assets. For purposes of this
Subsection 1(e)(iii), a sale of more than fifty percent (50%) of the Company’s assets includes a sale of more than fifty percent (50%) of the aggregate value of the assets of the Company and its subsidiaries or the sale of stock of
one or more of the Company’s subsidiaries with an aggregate value in excess of fifty percent (50%) of the aggregate value of the Company and its subsidiaries or any combination of methods by which more than fifty percent (50%) of the
aggregate value of the Company and its subsidiaries is sold. 

  
 2 

 (iv) For purposes of this Agreement, a “Change in Control” will be
deemed to occur: 
 (A) on the day on which a twenty percent (20%) or greater ownership interest described
in Subsection 1(e)(i) is acquired, provided that a subsequent increase in such ownership interest after it first equals or exceeds twenty percent (20%) shall not be deemed a separate Change in Control; 

(B) on the day on which “Continuing Directors,” as hereinafter defined, cease to be a majority of the Board as
described in Subsection 1(e)(ii); 
 (C) on the day of a merger, consolidation or sale of assets as described in
Subsection 1(e)(iii); or 
 (D) on the day of the approval of a plan of complete liquidation as described in
Subsection 1(e)(iii). 
 (v) For purposes of this Subsection 1(e), the words “Continuing Directors”
mean individuals who at the beginning of any period (not including any period prior to the date of this Agreement) of one (1) year constitute the Board and any new Director(s) whose election by the Board or nomination for election by the
Company’s stockholders was approved by a vote of at least a majority of the Directors then still in office who either were Directors at the beginning of the period or whose election or nomination for election was previously so approved.

 (f) “Code” means the Internal Revenue Code of 1986, as amended. 

(g) “Compensation Committee” means the Compensation Committee of the Board or its successor. 

(h) “Director” means a member of the Board. 

(i) “Disability” means a physical or mental incapacity that prevents the Executive from performing his duties
for a period of one hundred eighty (180) consecutive days in any period of two (2) consecutive fiscal years of the Company. 
 (j) “Duties” means the duties and responsibilities customarily required of the chief financial officer of a major corporation or such additional duties as may be assigned from time to time to
the Executive by the Board, which are consistent with the position of Executive Vice President, Chief Financial Officer and Secretary. 
 (k) “Effective Date” means September 1, 2012. 
 (l)
“Exchange Act” means the Securities Exchange Act of 1934, as amended. 

  
 3 

 (m) “Good Reason” means the occurrence of (i) any material
reduction in the position, authority or office of the Executive, (ii) any material reduction in the Executive’s Duties, (iii) any material adverse change or reduction in the aggregate “Minimum Benefits,” as hereinafter
defined, provided to the Executive as of the Effective Date (provided that any material reduction in such aggregate Minimum Benefits that is required by law or applies generally to all employees of the Company shall not constitute “Good
Reason” as defined hereunder), (iv) any relocation of the Executive’s principal place of work with the Company to a place more than sixty (60) miles from the geographical center of Akron, Ohio, (v) the material breach or
material default by the Company of any of its agreements or obligations under any provision of this Agreement which remains substantially uncured thirty (30) days after the Executive provides written notice thereof to the Board; or (vi) a
material diminution in the Executive’s overall compensation package in the aggregate, in either case below the level in effect on the Effective Date; provided, however, that for the purpose of this Section 1(m)(vi) a material diminution to
the overall compensation package will not be deemed to have occurred if it is the result of a failure to achieve applicable performance targets under a performance based plan or program. As used in this Subsection 1(m), an “adverse change or
material reduction” in the aggregate Minimum Benefits shall be deemed to result from any reduction or any series of reductions which, in the aggregate, exceeds five percent (5%) of the value of such aggregate Minimum Benefits determined as
of the Effective Date. As used in this Subsection 1(m), Minimum Benefits are defined as life insurance, accidental death, long-term disability, short-term disability, medical, dental, and vision benefits and the Company’s expense reimbursement
policy. The Executive shall give written notice to the Company on or before the date of termination of employment for Good Reason stating that the Executive is terminating employment with the Company and specifying in detail the reasons for such
termination. If the Company does not object to such notice by notifying the Executive in writing within forty-five (45) days following the date of the Company’s receipt of the Executive’s notice of termination, the Company shall be
deemed to have agreed that such termination was for Good Reason. The parties agree that “Good Reason” will not be deemed to have occurred merely because the Company becomes a subsidiary or division of another entity following a
“Change in Control,” as defined herein, provided the Executive continues to serve as the Executive Vice President, Chief Financial Officer and Secretary of the new parent company and its subsidiaries. The parties further agree that
“Good Reason” will be deemed to have occurred if the purchaser, in a Change in Control transaction, does not assume this Agreement in accordance with Section 12 hereof. 

(n) “Term” means the period commencing on the Effective Date and ending on the earlier of: (i) the
Termination Date; or (ii) the Executive’s death or Disability. 
 (o) “Termination Date”
means the date on which the Executive’s employment is terminated (the effective date of which will be the date of termination). 
 2. SEVERANCE COMPENSATION. If the Executive’s employment terminates, the following severance provisions will apply: 

(a) Except as otherwise provided in Section 3, if the Executive’s employment is terminated by the Company other
than for Cause or Disability or is terminated by the Executive for Good Reason, during the period of one (1) year commencing on the Termination Date (“Payment Term”), the Company shall: 

(i) pay to the Executive within thirty (30) days following the Termination Date a single lump sum payment in an
amount equal to one (1) times his annual Base Salary in effect on the Termination Date (or if such annual Base Salary has decreased during the one year period ending on the Termination Date, at the highest rate in effect during such period,
less all withholding and similar requirements; 

  
 4 

 (ii) pay to the Executive within thirty (30) days following the
Termination Date a single lump sum payment equal to one (1) times the Executive’s Annual Bonus at the highest rate in effect during the prior three (3) year period, plus the sum of any accrued Annual Bonus earned in the year prior but
unpaid at the Termination Date, less all withholding and similar requirements; 
 (iii) for the entire Payment
Term, pay to the Executive the entire cost of the premiums for continued medical coverage in accordance with Code Section 4980(B) (“COBRA”) and continue in effect the long-term disability protection and any life insurance protection
being provided to the Executive immediately prior to the Termination Date; and 
 (iv) pay for executive
outplacement services for the Executive from a nationally recognized executive outplacement firm at the level provided for the most senior executives for a one-year period commencing on the Termination Date. 

Notwithstanding the foregoing, any amounts payable to the Executive during the first six months and one day following the date of
termination pursuant to this Section 6(a) which are “deferred compensation” under Section 409A and the U.S. Treasury Regulations thereunder, after taking into account any exceptions under Treasury Regulation
Section 1.409A-1(b)(9)(iii), will be deferred until the date which is six months and one day following such termination, and if any such payments are required to be so deferred the first payment will be in an amount equal to the total amount to
which the Executive would otherwise have been entitled during the period following the date of termination of employment if deferral had not been required. 
 (b) If the Executive’s employment with the Company is terminated by reason of the Executive’s death or Disability, the Executive or the Executive’s surviving spouse shall be entitled to
receive (i) the Base Salary and Annual Bonus accrued in the year prior to the year in which the death or Disability occurs and unpaid to the date of death or Disability, (ii) any amounts payable under any employee benefit plan of the
Company in accordance with the terms of such plan, and (iii) if the Executive and/or the Executive’s surviving spouse and dependents properly elect continued medical coverage in accordance with COBRA, the Company shall pay the entire cost
of the premiums for such continued medical coverage for the longer of (A) the maximum required period of coverage under Code Section 4980B(f) or (B) thirty-six (36) months. 

  
 5 

 (c) If the Executive’s employment is terminated by the Company for
Cause or terminated by the Executive other than for Good Reason, then no further compensation or benefits will be provided to the Executive by the Company under this Agreement following the Termination Date other than payment of compensation earned
to the Termination Date but not yet paid. This Subsection 2(c) shall not be interpreted to deny the Executive any benefits to which the Executive may be entitled under any plan or arrangement of the Company applicable to the Executive. 

(d) If the Executive’s employment is terminated: 

(i) by reason of the Executive’s death or Disability; or 

(ii) by the Company other than for Cause or by the Executive for Good Reason; 

the Executive will become fully vested in all outstanding stock options, restricted stock, restricted stock units or similar awards and
any such award shall be then and thereafter fully exercisable for a period of twelve (12) months following the Termination Date. 
 (e) Notwithstanding anything contained in this Agreement to the contrary, if the Executive materially breaches any of the Executive’s obligations under Sections 6 or 7 hereof, and such breach is
not substantially cured in all material respects within thirty (30) days after the Board gives written notice thereof to the Executive, no further severance payments or other benefits will be payable to the Executive under this Section 2.

 3. TERMINATION FOLLOWING A CHANGE IN CONTROL. 

(a) In the event of a termination of the Executive’s employment by the Company in connection
with, or within one (1) year after, a Change in Control, the Executive is entitled to, within thirty (30) days following the Termination Date, and in lieu of any payments under Subsection 2(a)(i), a single sum payment equal to one and
one-half (1 1/2) times Executive’s annual Base Salary on the Termination Date (or if such Base Salary has decreased during the one year period ending on the Termination Date, at the highest level during such
period), less all withholding and similar requirements. 
 (b) In the event of a
termination of the Executive’s employment by the Company in connection with, or within one (1) year after, a Change in Control, the Executive is entitled to, within thirty (30) days of the Termination Date, and in lieu of any payments
under Subsection 2(a)(ii), a single sum payment equal to one and one-half (1 1/2) times the Executive’s Annual Bonus at the highest rate in effect during the prior three (3) year period,
plus the sum of any accrued Annual Bonus earned in the year prior to the Termination Date but unpaid at the Termination Date, less all withholding and similar requirements. 

(c) In the event of a Change in Control, the Executive will become fully vested in all outstanding stock options,
restricted stock or similar awards and any option shall become fully exercisable until the termination of such options pursuant to their terms. 

  
 6 

 (d) In the event of a Change in Control, the Executive will have available
the expenses of enforcement provided in Section 4 hereof. 
 4. EXPENSES OF ENFORCEMENT. The Executive shall not be
required to incur the expenses associated with the enforcement of the Executive’s rights under this Agreement by litigation or other legal action. Therefore, the Company shall pay, or cause to be paid, on a current basis, reasonable attorney
fees and expenses incurred by the Executive to enforce the provisions of this Agreement. The Executive shall be required to repay any such amounts to the Company to the extent that a court of competent jurisdiction issues a final and non-appealable
order setting forth the determination that the claims of the Executive were frivolous. 
 5. WITHHOLDING OF TAXES. The Company
may withhold from any amounts payable under this Agreement all federal, state, city, or other taxes as the Company is required to withhold pursuant to any applicable law, regulation or ruling. 

6. CONFIDENTIAL INFORMATION. The Executive agrees that the Executive will not, during the Term or at any time thereafter, either directly
or indirectly, disclose or make known to any other person, firm, or corporation any confidential information, trade secret or proprietary information of the Company in violation of that certain Non Competition and Non Disclosure Agreement between
the Company and the Executive dated September 1, 2012 (the “Non-Competition and Non-Disclosure Agreement”). 
 7. NON-COMPETITION. Pursuant to the Non Competition and Non Disclosure Agreement, the Executive hereby acknowledges and reaffirms that, during the Term, and for three (3) years thereafter, the
Executive shall not compete with the Company as more fully set forth in the Non Competition and Non Disclosure Agreement. 
 8.
ARBITRATION. The following arbitration rules shall apply to this Agreement: 
 (a) In the event that the
Executive’s employment shall be terminated by the Company during the Term or the Company shall withhold payments or provision of benefits because the Executive is alleged to be engaged in activities prohibited by Section 6 or 7 hereof or
for any other reason, the Executive shall have the right, in addition to all other rights and remedies provided by law, at his election either to seek arbitration in the metropolitan area of Akron, Ohio, under the Commercial Arbitration Rules of the
American Arbitration Association by serving a notice to arbitrate upon the Company or to institute a judicial proceeding, in either case within one hundred and twenty (120) days after having received notice of termination of his employment.

 (b) Without limiting the generality of Subsection 8(a), this Subsection 8(b) shall apply to termination
asserted to be for “Cause” or for “Good Reason.” In the event that (i) the Company terminates the Executive’s employment for Cause, or (ii) the Executive resigns his employment for Good Reason, the Company and the
Executive each shall have thirty (30) days to demand of the American Arbitration Association in writing (with a copy to the other party hereto) that arbitration be commenced to determine whether Cause or Good Reason, as the case may be, existed
with respect to such termination or resignation. The parties hereto shall have thirty (30) days from the date of such written request to select such third party arbitrator. Upon the expiration of such thirty (30) day period, the parties
hereto shall have an additional thirty (30) days in 

  
 7 

 
which to present to such third party arbitrator such arguments, evidence or other material (oral or written) as may be permitted and in accordance with such procedures as may be established by
such third party arbitrator. The third party arbitrator shall furnish a written summary of his findings to the parties hereto not later than thirty (30) days following the last day on which the parties were entitled to present arguments,
evidence or other material to the third party arbitrator. 
 During the period of resolution of a dispute under this Subsection
8(b), the Executive shall receive no compensation by the Company (other than payment by the Company of premiums due before or during such period on any insurance coverage applicable to the Executive hereunder) and the Executive shall have no duties
for the Company. If the arbitrator determines that the Company did not have Cause to terminate the Executive’s employment or that the Executive had Good Reason to resign his employment, as the case may be, the Company shall promptly pay the
Executive in a lump sum any compensation to which the Executive would have been entitled, for the period commencing with the date of the Executive’s termination or resignation and ending on the date of such determination, had his employment not
been terminated or had he not resigned. 
 9. EMPLOYMENT AT WILL. The parties hereto acknowledge and confirm that the
Executive’s employment by the Company is employment-at-will, and is subject to termination by the Executive or by the Company at any time with Cause or without Cause. With this Agreement, the parties hereto do not intend to create, and have not
created, a contract of employment, express or implied, between the Executive and the Company. The Executive acknowledges that such employment-at-will status cannot be modified except in a specific writing that has been authorized or ratified by the
Board. 
 10. EMPLOYMENT ACTIONS. This Agreement is not intended to create, and will not be construed as creating, an express or
implied contract of employment. Nothing contained herein will prevent the Company at any time from terminating the Executive’s right and obligation to perform services to the Company or prevent the Company from removing the Executive from any
position which the Executive holds with the Company, provided, however, that no such action shall affect the obligation of the Company to make payments and provide benefits if and to the extent required under this Agreement. The payments and
benefits provided in this Agreement will be full and complete liquidated damages for any such employment action taken by the Company. 
 11. NOTICES. For purposes of this Agreement, all communications provided for herein shall be in writing and shall be deemed to have been duly given when hand delivered or mailed by United States Express
mail, postage prepaid, addressed as follows: 
  

			
	(a)	  	If the notice is to the Company:
		
		  	 Myers Industries, Inc.
 1293
South Main Street
 Akron, OH 44301

Attn: Chairman of the Compensation Committee

  
 8 

			
		  	With a Copy to:
		
		  	 Benesch, Friedlander, Coplan & Aronoff, LLP
 200 Public Square, Suite #2300
 Cleveland, OH 44114-2378

Attn: Megan L. Mehalko, Esq.

		
	(b)	  	If the notice is to the Executive:
		
		  	 Mr. Gregg Branning
 5N869
Westwood Lane
 St. Charles, IL 60175

		
		  	With a Copy to:

 or to such other address as either party hereto may have furnished to the other in writing and in
accordance herewith; except that notices of change of address shall be effective only upon receipt. 
 12. ASSIGNMENT; BINDING
EFFECT. This Agreement shall be binding upon and inure to the benefit of the parties to this Agreement and their respective successors, heirs (in the case of the Executive) and permitted assigns. No rights or obligations of the Company under this
Agreement may be assigned or transferred by the Company except that such rights or obligations may be assigned or transferred in connection with the sale or transfer of all or substantially all of the assets of the Company, provided that the
assignee or transferee is the successor to all or substantially all of the assets of the Company and such assignee or transferee expressly assumes the liabilities, obligations and duties of the Company, as contained in this Agreement, either
contractually or as a matter of law. The Company further agrees that, in the event of a sale or transfer of assets as described in the preceding sentence, it shall be a condition precedent to the consummation of any such transaction that the
assignee or transferee expressly assumes the liabilities, obligations and duties of the Company hereunder. No rights or obligations of the Executive under this Agreement may be assigned or transferred by the Executive other than the Executive’s
rights to compensation and benefits, which may be transferred only by will or operation of law, except as provided in this Section 12. 
 The Executive shall be entitled, to the extent permitted under any applicable law, to select and change a beneficiary or beneficiaries to receive any compensation or benefits payable hereunder following
the Executive’s death by giving the Company written notice thereof. In the absence of such a selection, any compensation or benefit payable under this Agreement following the death of the Executive shall be payable to the Executive’s
spouse, or if such spouse 

  
 9 

 
shall not survive the Executive, to the Executive’s estate. In the event of the Executive’s death or a judicial determination of the Executive’s incompetence, reference in this
Agreement to the Executive shall be deemed, where appropriate, to refer to the Executive’s beneficiary, estate or other legal representative. 
 13. INVALID PROVISIONS. Any provision of this Agreement that is prohibited or unenforceable shall be ineffective to the extent, but only to the extent, of such prohibition or unenforceability without
invalidating the remaining portions hereof and such remaining portions of this Agreement shall continue to be in full force and effect. In the event that any provision of this Agreement shall be determined to be invalid or unenforceable, the parties
hereto will negotiate in good faith to replace such provision with another provision that will be valid or enforceable and that is as close as practicable to the provisions held invalid or unenforceable. 

14. ALTERNATIVE SATISFACTION OF COMPANY’S OBLIGATIONS. In the event this Agreement provides for payments or benefits to or on behalf
of the Executive which cannot be provided under the Company’s benefit plans, policies or arrangements either because such plans, policies or arrangements no longer exist or no longer provide such benefits or because provision of such benefits
to the Executive would adversely affect the tax qualified or tax advantaged status of such plans, policies or arrangements for the Executive or other participants therein, the Company may provide the Executive with an “Alternative
Benefit,” as defined in this Section 14, in lieu thereof. The Alternative Benefit is a benefit or payment which places the Executive and the Executive’s dependents or beneficiaries, as the case may be, in at least as good of an
economic position as if the benefit promised by this Agreement (a) were provided exactly as called for by this Agreement, and (b) had the favorable economic, tax and legal characteristics customary for plans, policies or arrangements of
that type. Furthermore, if such adverse consequence would affect the Executive or the Executive’s dependents, the Executive shall have the right to require that the Company provide such an Alternative Benefit. Notwithstanding the foregoing, if
provision of an alternative benefit would constitute a violation of Section 409A, the parties hereto will be left to their legal remedies. 
 15. ENTIRE AGREEMENT, MODIFICATION. Subject to the provisions of Section 16 hereof, this Agreement contains the entire agreement between the parties hereto with respect to the employment of the
Executive by the Company and supersedes all prior and contemporaneous agreements, representations, and understandings of the parties hereto, whether oral or written. No modification, amendment, or waiver of any of the provisions of this Agreement
shall be effective unless in writing, specifically referring hereto, and signed by both parties hereto. 
 16. NON-EXCLUSIVITY
OF RIGHTS. Notwithstanding the foregoing provisions of Section 15, nothing in this Agreement shall prevent or limit the Executive’s continuing or future participation in any benefit, bonus, incentive or other plan, program, policy or
practice provided by the Company for its executive officers, nor shall anything herein limit or otherwise affect such rights as the Executive has or may have under any stock option, restricted stock or other agreements with the Company or any of its
subsidiaries. Amounts which the Executive or the Executive’s dependents or beneficiaries, as the case may be, are otherwise entitled to receive under any such plan, policy, practice or program shall not be reduced by this Agreement unless
specifically provided. 

  
 10 

 17. WAIVER OF BREACH. The failure at any time to enforce any of the provisions of this
Agreement or to require performance by the other party hereto of any of the provisions of this Agreement shall in no way be construed to be a waiver of such provisions or to affect either the validity of this Agreement or any part of this Agreement
or the right of either party hereto thereafter to enforce each and every provision of this Agreement in accordance with the terms of this Agreement. 
 18. GOVERNING LAW. This Agreement has been made in, and shall be governed and construed in accordance with the laws of, the State of Ohio. The parties hereto agree that this Agreement is not an
“employee benefit plan” or part of an “employee benefit plan” which is subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended. 

19. REPRESENTATION. The Company represents and warrants that it is fully authorized and empowered to enter into this Agreement and that
the performance of its obligations under this Agreement will not violate any agreement between it and any other person, firm or organization. 
 20. SUBSIDIARIES AND AFFILIATES. Notwithstanding any contrary provision of this Agreement, to the extent it does not adversely affect the Executive, the Company may provide the compensation and benefits
to which the Executive is entitled hereunder through one or more subsidiaries or affiliates. 
 21. NO MITIGATION OR OFFSET. In
the event of any termination of employment, the Executive shall be under no obligation to seek other employment. Amounts due the Executive under this Agreement shall not be offset by any remuneration attributable to any subsequent employment he may
obtain. 
 22. COMPLIANCE WITH SECTION 409A OF THE CODE. Certain payments contemplated by this Agreement may be “deferred
compensation” for purposes of Section 409A. Accordingly, the following provisions shall be in effect for purposes of avoiding or mitigating any adverse tax consequences to the Executive under Section 409A: 

(a) A termination of employment will not be deemed to have occurred for purposes of any provision of this Agreement
providing for the payment of any amounts or benefits upon or following a termination of employment unless such termination is also a “separation from service” within the meaning of Section 409A, for purposes of any such provision of
this Agreement, references herein to “termination,” “termination of employment,” or similar terms will mean “separation from service.” 

(b) The intent of the parties hereto is that payments and benefits under this Agreement comply with or be exempt from
Section 409A and the regulations and guidance promulgated thereunder and, accordingly, to the maximum extent permitted, this Agreement will be interpreted to be in compliance therewith or exempt therefrom. In no event whatsoever will the
Company be liable for any additional tax, interest or penalty that may be imposed on the Executive by Section 409A or damages for failing to comply with Section 409A. 

(c) To the extent any provisions of this Agreement would otherwise contravene one or more requirements or limitations of
Section 409A, then the Company 

  
 11 

 
and the Executive may, within any applicable time period provided under the Treasury Regulations issued under Section 409A, effect through mutual agreement the appropriate amendments to
those provisions which are necessary in order to bring the provisions of this Agreement into compliance with Section 409A, provided such amendments shall not reduce the dollar amount of any such item of deferred compensation or adversely affect
the vesting provisions applicable to such item or otherwise reduce the present value of that item. If any legislation is enacted during the term of this Agreement which imposes a dollar limit on deferred compensation, then the Executive will
cooperate with the Company in restructuring any items of compensation under this Agreement that are deemed to be deferred compensation subject to such limitation, provided such restructuring shall not reduce the dollar amount of any such item or
adversely affect the vesting provisions applicable to such item or otherwise reduce the present value of that item. 
 (d) Notwithstanding any provision to the contrary in this Agreement, if (i) the Company, in its good faith discretion, determines that any payments or benefits described in this Agreement would
constitute non-exempt deferred compensation for purposes of Section 409A and (ii) the Executive is a “specified employee” (within the meaning of Section 409A and the U.S. Treasury Regulations thereunder) at the time of his
termination of employment, then such payments or benefits shall not be made or paid to the Executive prior to the earlier of (A) the expiration of the six (6) month period measured from the date of such “separation from service”
or (B) the date of his death (the “Delay Period”). Upon the expiration of the Delay Period, all payments deferred pursuant to this Subsection 22(d) shall be paid in a lump sum to the Executive, and any remaining payments due
under this Agreement shall be paid in accordance with the normal payment dates specified for them herein. 
 (e)
For purposes of Section 409A, the Executive’s right to receive any installment payment pursuant to this Agreement will be treated as a right to receive a series of separate and distinct payments. 

(f) Whenever a payment under this Agreement specifies a payment period with reference to a number of days (e.g.,
“payment will be made within thirty (30) days following the Termination Date”), the actual date of payment within the specified period will be determined solely by the Company. 

(g) Notwithstanding any other provision herein to the contrary, in no event will any payment that constitutes non-exempt
deferred compensation subject to Section 409A, as determined in good faith by the Company, be subject to offset, counterclaim, or recoupment by any other amount payable to the Executive unless otherwise permitted by Section 409A.

 (h) To the extent that reimbursements or other in-kind benefits under this Agreement constitute non-exempt
deferred compensation for purposes of Section 409A, (i) all expenses or other reimbursements hereunder shall be made on or prior to the last day of the taxable year following the taxable year in which such expenses were incurred by the
Executive, (ii) any right to such reimbursement or in-kind benefits shall not be subject to liquidation or exchange for another benefit, and (iii) no such reimbursement, 

  
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expenses eligible for reimbursement, or in-kind benefits provided in any taxable year shall in any way affect the expenses eligible for reimbursement, or in-kind benefits to be provided, in any
other taxable year. 
 [Remainder of the page intentionally left blank, signature page follows] 

  
 13 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed and
delivered as of the date first above written. 
  

	
	 MYERS INDUSTRIES, INC.

(the “Company”)

	
	 /s/ John C. Orr
 By: John C. Orr

	Its: President and Chief Executive Officer
	
	 /s/ Gregg Branning

	 GREGG BRANNING
 (the
“Executive”)

 [Signature page to Severance Agreement] 

  
 14

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