Document:

Exhibit 10.2

 

TAX MATTERS AGREEMENT (this “Agreement”),
dated as of September 22, 2016, by and between Honeywell International Inc., a Delaware
corporation (“HII”), and AdvanSix, Inc., a Delaware corporation (“AdvanSix” and, together with HII, the
“Parties”).

 

W I T N E S S E T H :

 

WHEREAS AdvanSix is a wholly-owned subsidiary
of HII and a member of the affiliated group of which HII is the common parent;

 

WHEREAS, pursuant to the Separation Agreement,
HII and AdvanSix have effected or agreed to effect (i) the Internal Transactions (the steps of which are described in Schedule
I of the Separation Agreement) and (ii) the Distribution (together, the “Transactions”); and

 

WHEREAS the Parties intend that each of the applicable
Transactions qualify for its Intended Tax Treatment;

 

NOW, THEREFORE, in consideration of the mutual
covenants and agreements contained herein, the Parties hereby agree as follows:

 

ARTICLE
I

Definitions

 

SECTION 1.01. Definition of Terms.
The following terms shall have the following meanings. Capitalized terms used but not defined in this Agreement shall have
the meanings ascribed to them in the Separation Agreement.

 

“10% Acquisition Transaction”
has the meaning set forth in Section 4.06.

 

“Accounting Firm” has the
meaning set forth in Section 3.01(c).

 

“Active Trade or Business”
means the active conduct (determined in accordance with Section 355(b) of the Code) of the trade or business described in the Tax
Opinion Representations for purposes of satisfying the requirements of Section 355(b) of the Code as it applies to the Distribution
with respect to AdvanSix.

 

“AdvanSix” has the meaning
set forth in the preamble.

 

“AdvanSix SAG” has the meaning
set forth in Section 4.03(a)(v).

 

“AdvanSix Stock” means (i)
all classes or series of stock or other equity interests of AdvanSix and (ii) all other instruments properly treated as stock of
AdvanSix for U.S. Federal income Tax purposes.

    	 

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“AdvanSix Tax Group” means
(i) AdvanSix, (ii) any Person that is or was a Subsidiary of AdvanSix as of the Distribution or at any time prior to the Distribution
and (iii) any Person that was a Subsidiary of one or more Persons described in clause (ii) at any time prior to the Distribution.

 

“Agreement” has the meaning
set forth in the preamble.

 

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

 

“Determination” means (i)
any final determination of liability in respect of a Tax that, under applicable Law, is not subject to further appeal, review or
modification through proceedings or otherwise (including the expiration of a statute of limitations or period for the filing of
claims for refunds, amended Tax Returns or appeals from adverse determinations), including a “determination” as defined
in Section 1313(a) of the Code or execution of an IRS Form 870AD, or (ii) the payment of Tax by a Party (or its Subsidiary) that
is responsible for payment of that Tax under applicable Law, with respect to any item disallowed or adjusted by a Taxing Authority,
as long as the responsible Party determines that no action should be taken to recoup that payment and the other Party agrees.

 

“E&P” has the meaning
set forth in Section 2.02(b)(iv).

 

“HII” has the meaning set
forth in the preamble.

 

“HII Consolidated Group” means
any consolidated, combined, unitary or similar group of which (i) any member of the HII Tax Group is or was a member and (ii) any
member of the AdvanSix Tax Group is or was a member.

 

“HII Tax Group” means HII
and any Person that is or was a Subsidiary of HII as of the Distribution or at any time prior to the Distribution, excluding each
member of the AdvanSix Tax Group.

 

“Indemnifying Party” means
a Party that has an obligation to make an Indemnity Payment.

 

“Indemnitee” means a Party
that is entitled to receive an Indemnity Payment.

 

“Indemnity Payment” means
an indemnity payment contemplated by this Agreement and the Separation Agreement.

 

“Intended Tax Treatment” means,
with respect to each of the applicable Transactions, the U.S. Federal income Tax consequences (if any) set forth for such Transaction
in Appendix A.

 

“IRS” means the U.S. Internal
Revenue Service.

    	 

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“Ordinary Taxes” means Taxes
other than (i) Transaction Taxes and (ii) Transfer Taxes.

 

“Parties” has the meaning
set forth in the preamble.

 

“Pre-Distribution Tax Period”
means any taxable period (or portion thereof) that ends on or before the Distribution Date.

 

“Proposed Acquisition Transaction”
has the meaning set forth in Section 4.03(b).

 

“Protective Section 336(e) Election”
means, with respect to an entity, a protective election under Section 336(e) of the Code and Section 1.336-2(j) of the Regulations
(and any similar provision of U.S. state or local Law for such jurisdictions as HII shall determine at its sole discretion) to
treat the disposition of the Stock of such entity, pursuant to the Distribution, as a deemed sale of the assets of such entity
in accordance with Section 1.336-2(h) of the Regulations (or any similar provision of U.S. state or local Law).

 

“Records” has the meaning
set forth in Section 5.01.

 

“Refund Recipient” has the
meaning set forth in Section 2.03.

 

“Regulations” means the Treasury
regulations promulgated under the Code.

 

“Restricted Period” has the
meaning set forth in Section 4.03(a).

 

“Ruling” means a private letter
ruling (including any supplemental ruling) issued by the IRS in connection with the Transactions, whether granted prior to, on
or after the date hereof.

 

“Satisfactory Guidance” has
the meaning set forth in Section 4.04(b).

 

“Separation Agreement” means
the Separation and Distribution Agreement dated as of the date of this Agreement by and between HII and AdvanSix, including the
Schedules thereto.

 

“Straddle Period” has the
meaning set forth in Section 2.05(b).

 

“Subsidiary” means, with respect
to any Person, a corporation, partnership, association, limited liability company, trust or other form of legal entity in which
such Person and/or one or more Subsidiaries of such Person has either (i) a majority ownership in the equity thereof; (ii) the
power to elect, or to direct the election of, a majority of the board of directors or other analogous governing body of such entity;
or (iii) the title or function of general partner or manager, or the right to designate the Person having such title or function.

    	 

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“Tax Advisor” means (i) for
purposes of Section 5.06, a local Tax counsel or accountant of recognized national standing in the relevant jurisdiction and (ii)
for all other purposes of this Agreement, a U.S. Tax counsel of recognized national standing.

 

“Tax Attribute” has the meaning
set forth in Section 2.04.

 

“Tax Contest” means an audit,
review, examination or other administrative or judicial proceeding, in each case by any Taxing Authority.

 

“Tax Dispute” has the meaning
set forth in Section 5.06.

 

“Tax Opinion Representations”
means representations regarding certain facts in existence at the applicable time made by HII and AdvanSix that serve as a basis
for the Tax Opinion.

 

“Tax Opinion” means the written
opinion of Cravath, Swaine & Moore LLP issued to HII to the effect that each of the applicable Transactions should qualify
for its Intended Tax Treatment.

 

“Tax Opinions/Rulings” means
(i) any Ruling and (ii) any opinion of a Tax Advisor relating to the Transactions, including those issued on the Distribution Date
or to allow a party to take actions otherwise prohibited under Section 4.03(a) of this Agreement.

 

“Tax Return” means any return,
declaration, statement, report, form, estimate or information return relating to, (i) for purposes of Article III, Taxes other
than payroll and employment related Taxes and (ii) for all other purposes of this Agreement, Taxes, in each case, including any
amendments thereto and any related or supporting information, required or permitted to be filed with any Taxing Authority.

 

“Tax Return Preparer” means
HII.

 

“Taxes” means all forms of
taxation or duties imposed by any Governmental Authority, or required by any Governmental Authority to be collected or withheld,
including charges, in each case, in the nature of a tax, together with any related interest, penalties and other additional amounts.

 

“Taxing Authority” means any
Governmental Authority charged with the determination, collection or imposition of Taxes.

 

“Transaction Tax Contest”
means a Tax Contest with the purpose or effect of determining or redetermining Transaction Taxes.

 

“Transaction Taxes” means
all (i) Taxes imposed on HII, AdvanSix or any of their respective Subsidiaries resulting from the failure of any step of the Transactions

    	 

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to qualify for its Intended Tax Treatment, (ii) Taxes imposed on any third party resulting from the failure of any step of the
Transactions to qualify for its Intended Tax Treatment for which HII, AdvanSix or any of their respective Subsidiaries is or becomes
liable for any reason and (iii) reasonable, out-of-pocket legal, accounting and other advisory or court fees incurred in connection
with liability for Taxes described in clause (i) or (ii).

 

“Transactions” has the meaning
set forth in the recitals.

 

“Transfer Taxes” means all
transfer, sales, use, excise, stock, stamp, stamp duty, stamp duty reserve, stamp duty land, documentary, filing, recording, registration,
value-added and other similar Taxes (excluding, for the avoidance of doubt, any income, gains, profit or similar Taxes, however
assessed).

 

“Unqualified Tax Opinion”
has the meaning set forth in Section 4.04(d).

 

ARTICLE
II

 

 Allocation of Tax Liabilities and Tax Benefits

 

SECTION 2.01. HII Indemnification of
AdvanSix. After the Distribution, HII shall be liable for, and shall indemnify and hold AdvanSix harmless from, the
following Taxes, whether incurred directly by AdvanSix or indirectly through one of its Subsidiaries:

 

(a) Ordinary Taxes of HII and its Subsidiaries
(which, for the avoidance of doubt, shall include AdvanSix and its Subsidiaries prior to the Distribution) for any taxable period;
and

 

(b) Transaction Taxes;

 

in each case, other than Taxes for which AdvanSix
is liable under Section 2.02.

 

SECTION 2.02. AdvanSix Indemnification
of HII. After the Distribution, AdvanSix shall be liable for, and shall indemnify and hold HII harmless from, the
following Taxes, whether incurred directly by HII or indirectly through one of its Subsidiaries:

 

(a) Ordinary Taxes of AdvanSix and its Subsidiaries,
in each case, for any taxable period other than a Pre-Distribution Tax Period;

 

(b) Transaction Taxes attributable to:

 

(i) the failure to be true when made
or deemed made of (A) any Tax Opinion Representation made by AdvanSix or (B) any representation made by AdvanSix, any Subsidiary
or controlling shareholder of AdvanSix, any counterparty to any Proposed Acquisition Transaction or any of such

    	 

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counterparty’s
Affiliates for purposes of obtaining a Ruling or an Unqualified Tax Opinion intended to be Satisfactory Guidance;

 

(ii) any action or omission by AdvanSix
or any Subsidiary of AdvanSix in breach of the covenants set forth herein (including those in Section 4.03), in any other Ancillary
Agreement or in the Separation Agreement;

 

(iii) the application of Section 355(e)
or 355(f) of the Code to any of the Transactions by virtue of any acquisition (or deemed acquisition) of AdvanSix Stock (including
newly issued AdvanSix Stock) or assets of AdvanSix or any Subsidiary of AdvanSix;

 

(iv) a determination that the Distribution
was used principally as a device for the distribution of the earnings and profits (“E&P”) within the meaning of
Section 355(a)(1)(B) of the Code if such determination was based in whole or in part on any sale or exchange of AdvanSix Stock
or on any distribution on AdvanSix Stock occurring after the Distribution in excess of its E&P; or

 

(v) any other action or omission taken
after the Distribution by AdvanSix or any Subsidiary of AdvanSix, except to the extent such action or omission is otherwise expressly
required or permitted by this Agreement (other than under Section 4.04), any other Ancillary Agreement or the Separation Agreement;
and

 

(c) Any and all Transfer Taxes incurred by the
HII Tax Group or the AdvanSix Tax Group as a result of the Transactions.

 

SECTION 2.03. Refunds, Credits and
Offsets. Subject to Section 2.04, if HII, AdvanSix or any of their respective Subsidiaries receives any refund of any
Taxes for which the other Party is liable under Sections 2.01 and 2.02 (a “Refund Recipient”), such Refund
Recipient shall pay to the other Party the entire amount of the refund (including interest, but net of any Taxes imposed with
respect to such refund) within 10 business days of receipt or accrual; provided, however, that the other Party,
upon the request of such Refund Recipient, shall repay the amount paid to the other Party (plus any penalties, interest or
other charges imposed by the relevant Taxing Authority) in the event such Refund Recipient is required to repay such refund.
In the event a Party would be a Refund Recipient but for the fact it applied a refund to which it would otherwise have been
entitled against a Tax liability arising in a subsequent taxable period, then such Party shall be treated as a Refund
Recipient and the economic benefit of so applying the refund shall be treated as a refund, and shall be paid within 10
business days of the due date of the Tax Return to which such refund is applied to reduce the subsequent Tax liability.

 

SECTION 2.04. Carrybacks. If a Tax
Return of AdvanSix or any of its Subsidiaries for any taxable period ending after the Distribution Date reflects any net
operating loss, net capital loss, excess Tax credit or other Tax attribute (a “Tax Attribute”), then AdvanSix or
its applicable Subsidiary shall waive the right to carry back any such Tax Attribute to a Pre-Distribution Tax Period to the
extent permissible under

    	 

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applicable
Law. In the event that AdvanSix or any of its Subsidiaries does carry back a Tax Attribute to a Pre-Distribution Tax Period, then
(i) no payment with respect to such carryback shall be due to AdvanSix or any of its Subsidiaries from HII and (ii) if AdvanSix
or any of its Subsidiaries receives any refund, credit or offset of any Taxes in connection with such carryback, AdvanSix shall
promptly pay to HII the full amount of such refund or the economic benefit of the credit or offset (including interest, but net
of any Taxes imposed with respect to such refund).

 

SECTION 2.05. Straddle Periods. (a)
HII and AdvanSix shall take all commercially reasonable actions necessary or appropriate to close the taxable year of each member
of the AdvanSix Tax Group for all Tax purposes as of the end of the Distribution Date to the extent permitted by applicable Law.

 

(b) For any taxable period that includes (but
does not end on) the Distribution Date (a “Straddle Period”), Taxes for the Pre-Distribution Tax Period shall be computed
(i) in the case of Taxes imposed on a periodic basis (such as real, personal and intangible property Taxes), on a daily pro rata
basis and (ii) in the case of other Taxes generally, as if the taxable period ended as of the close of business on the Distribution
Date and, in the case of any such other Taxes that are attributable to the ownership of any equity interest in a partnership, other
“flowthrough” entity or “controlled foreign corporation” (within the meaning of Section 957(a) of the Code
or any comparable U.S. state or local or foreign Law), as if the taxable period of that entity ended as of the close of business
on the Distribution Date (whether or not such Taxes arise in a Straddle Period of the applicable owner).

 

(c) HII shall be entitled to any deduction arising
out of a liability of R&C LLC that may be treated as incurred in the Pre-Distribution Tax Period under the “recurring
item exception” pursuant to Section 1.461-5 of the Regulations, and the Parties shall file all Tax Returns in a manner consistent
therewith. AdvanSix shall pay (or cause to be paid) all such liabilities in the ordinary course consistent with the past practice
of HII and R&C LLC.

 

ARTICLE
III

 

Tax Returns, Tax Contests and Other Administrative Matters

 

SECTION 3.01. Responsibility for
Preparing Tax Returns. (a) HII shall timely prepare or cause to be timely
prepared any Tax Returns of the HII Tax Group and the AdvanSix Tax Group that are required or permitted to be filed for any
taxable period beginning before the Distribution Date. If AdvanSix is responsible for filing any such Tax Return under
Section 3.02(a), HII shall, subject to Section 3.01(c), promptly deliver such prepared Tax Return to AdvanSix reasonably in
advance of the applicable filing deadline.

    	 

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(b) To the extent that any Tax Return described in Section 3.01(a) or (b) is required to be filed by a Party other than the
Tax Return Preparer or directly relates to matters for which another Party may have an indemnification obligation to the Tax Return
Preparer or that may give rise to a refund to which that other Party would be entitled, under this Agreement, the Tax Return Preparer
shall (i) prepare the relevant portions of the Tax Return on a basis consistent with past practice, except (A) as required by applicable
Law or to correct any clear error, (B) as a result of changes or elections made on any Tax Return of a HII Consolidated Group that
do not relate primarily to the AdvanSix Tax Group or (C) as mutually agreed by the Parties; (ii) notify the other Party of any
such portions not prepared on a basis consistent with past practice; (iii) provide the other Party a reasonable opportunity to
review the relevant portions of the Tax Return; and (iv) consider in good faith any reasonable comments made by the other Party.

 

(c) The Parties shall attempt in good faith to
resolve any issues arising out of the review of any such Tax Return as soon as practically possible. If the Parties are unable
to resolve their differences, then the Parties shall collectively select an independent accounting firm (the “Accounting
Firm”) and shall instruct the Accounting Firm to use its best efforts to prepare the relevant portions of the Tax Return
on behalf of the Tax Return Preparer in compliance with Section 3.01(c) as promptly as practically possible. All determinations
of the Accounting Firm relating to the disputed items, absent fraud, shall be final and binding on the Parties. The fees and expenses
of the Accounting Firm shall be borne by AdvanSix.

 

SECTION 3.02. Filing of Tax Returns
and Payment of Taxes. (a) Each Party shall execute and timely file each Tax Return that it is responsible for filing
under applicable Law and shall timely pay to the relevant Taxing Authority any amount shown as due on each such Tax Return.
The obligation to make payments pursuant to this Section 3.02(a) shall not affect a Party’s right, if any, to receive
payments under Section 3.02(b) or otherwise be indemnified under this Agreement.

 

(b) In addition to its obligations under Section
3.01(b), the relevant Tax Return Preparer shall, no later than 5 business days before the due date (including extensions) of any
Tax Return described in Section 3.01(a), notify the other Party of any amount (or any portion of any such amount) shown
as due on that Tax Return for which the other Party must indemnify the Tax Return Preparer under this Agreement. The other Party
shall pay such amount to the Tax Return Preparer no later than the due date (including extensions) of the relevant Tax Return.
A failure by an Indemnitee to give notice as provided in this Section 3.02(b) shall not relieve the Indemnifying Party’s
indemnification obligations under this Agreement, except to the extent that the Indemnifying Party shall have been actually prejudiced
by such failure.

    	 

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(c) Neither AdvanSix nor any of its Subsidiaries
shall file, amend, withdraw, revoke or otherwise alter any Tax Return of any HII Consolidated Group.

 

(d) Neither AdvanSix nor any of its Subsidiaries
shall file, amend, withdraw, revoke or otherwise alter any Tax Return of AdvanSix or any of its Subsidiaries to the extent such
Tax Return relates to the Pre-Distribution Tax Period without the prior written consent of HII, which consent shall not be unreasonably
withheld or delayed.

 

SECTION 3.03. Tax Contests. (a) HII
or AdvanSix, as applicable, shall, within 10 business days of becoming aware of any Tax Contest (including a Transaction Tax Contest)
that could reasonably be expected to cause the other Party to have an indemnification obligation under this Agreement, notify the
other Party of such Tax Contest and thereafter promptly forward or make available to the Indemnifying Party copies of notices and
communications relating to the relevant portions of such Tax Contest. A failure by an Indemnitee to give notice as provided in
this Section 3.03(a) (or to promptly forward any such notices or communications) shall not relieve the Indemnifying Party’s
indemnification obligations under this Agreement, except to the extent that the Indemnifying Party shall have been actually prejudiced
by such failure.

 

(b) HII and AdvanSix each shall have the exclusive
right to control the conduct and settlement of any Tax Contest, other than a Transaction Tax Contest, relating to any Tax Return
that it is responsible for preparing pursuant to Section 3.01. Notwithstanding the foregoing, if the conduct or settlement of any
portion or aspect of any such Tax Contest could reasonably be expected to cause a Party to have an indemnification obligation under
this Agreement, then the Indemnitee shall not accept or enter into any settlement without the consent of the Indemnifying Party,
which consent shall not be unreasonably withheld or delayed.

 

(c) HII shall have the exclusive right to control
the conduct and settlement of any Transaction Tax Contest, provided, that HII shall not accept or enter into any settlement
relating to any Transaction Tax to the extent that AdvanSix is liable for such Transaction Tax pursuant to Section 2.02(b) without
the consent of AdvanSix, which consent shall not unreasonably be withheld or delayed.

 

SECTION 3.04. Expenses. Each Party
shall bear its own expenses in the course of any Tax Contest, other than expenses included in the definition of Transaction
Taxes, which shall be governed by Article II.

 

ARTICLE
IV

 

Tax Matters Relating to the Transactions

 

SECTION 4.01. Mutual Representations. Each
Party represents that it knows of no fact, and has no plan or intention to take any action, that it knows or reasonably should
expect, after consultation with a Tax Advisor, is inconsistent with the qualification of any step of the Transactions for its Intended
Tax Treatment.

    	 

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SECTION 4.02. Mutual Covenants. (a)
Each Party shall use its reasonable best efforts to cause the Tax Opinion to be issued, including by executing the Tax Opinion
Representations requested by Cravath, Swaine & Moore LLP that are true and correct.

 

(b) Except as otherwise expressly required or
permitted by the Separation Agreement, this Agreement or any other Ancillary Agreement, after the Distribution neither Party shall
take or fail to take, or cause or permit its respective Subsidiaries to take or fail to take, any action, if such action or omission
would be inconsistent with its Tax Opinion Representations or the Intended Tax Treatment.

 

SECTION 4.03. Restricted Actions. (a)
Subject to Section 4.04, during the period beginning on the Distribution Date and ending on, and including, the last day of the
two-year period following the Distribution Date (the “Restricted Period”), AdvanSix shall not (and shall not cause
or permit any of its Subsidiaries to), in a single transaction or a series of transactions:

 

(i) enter into any Proposed Acquisition
Transaction;

 

(ii) take any affirmative action that
permits a Proposed Acquisition Transaction to occur by means of an agreement to which neither AdvanSix nor any of its Subsidiaries
is a party (including by (A) redeeming rights under a shareholder rights plan, (B) making a determination that a tender offer is
a “permitted offer” under any such plan or otherwise causing any such plan to be inapplicable or neutralized with respect
to any Proposed Acquisition Transaction or (C) approving any Proposed Acquisition Transaction, whether for purposes of Section
203 of the Delaware General Corporate Law or any similar corporate statute, any “fair price” or other provision of
AdvanSix’s charter or bylaws or otherwise);

 

(iii) liquidate or partially liquidate
AdvanSix, whether by merger, consolidation or otherwise (provided that, for the avoidance of doubt, a merger of another
entity into AdvanSix or any of its Subsidiaries shall not constitute an action described in this Section 4.03(a)(iii));

 

(iv) cause or permit AdvanSix to cease
to engage in the Active Trade or Business;

 

(v) sell or transfer 50% or more of
the gross assets of the Active Trade or Business or 50% or more of the gross assets of the “separate affiliated group”
(within the meaning of Section 355(b)(3)(B) of the Code) of AdvanSix (the “AdvanSix SAG”) held immediately before the
Distribution (provided, however, that the foregoing shall not apply to sales, transfers or dispositions of assets
to any member of the AdvanSix SAG); or

 

(vi) redeem or otherwise repurchase
(directly or indirectly) any AdvanSix Stock, except to the extent such redemptions or repurchases meet the

    	 

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following requirements:
(A) those redemptions or purchases are for business reasons unrelated to the Distribution, (B) AdvanSix Stock to be purchased is
widely held, (C) those redemptions or purchases will be made on the open market and (D) the aggregate amount of those redemptions
or purchases will be less than 20% of the total value of the outstanding AdvanSix Stock.

 

(b) (i) For purposes of this Agreement, “Proposed
Acquisition Transaction” means any transaction or series of transactions (or any agreement, understanding or arrangement
to enter into a transaction or series of transactions) as determined for purposes of Section 355(e) of the Code, in connection
with which one or more Persons would (directly or indirectly) acquire, or have the right to acquire (including pursuant to an option,
warrant or other conversion right), from any other Person or Persons, an interest in AdvanSix Stock that, when combined with any
other acquisitions of AdvanSix Stock that occur after the Distribution (but excluding any other acquisition described in clause
(ii)) comprises 40% or more of the value or the total combined voting power of all interests that are treated as outstanding equity
in AdvanSix for U.S. Federal income Tax purposes immediately after such transaction or, in the case of a series of related transactions,
immediately after any transaction in such series. For this purpose, any recapitalization, repurchase or redemption of AdvanSix
Stock and any amendment to the certificate of incorporation (or other organizational documents) of AdvanSix shall be treated as
an indirect acquisition of AdvanSix Stock by any shareholder to the extent such shareholder’s percentage interest in interests
that are treated as outstanding equity in AdvanSix for U.S. Federal income Tax purposes increases by vote or value.

 

(ii) Notwithstanding the foregoing,
a Proposed Acquisition Transaction shall not include (x) the adoption by AdvanSix of a shareholder rights plan that meets the requirements
of IRS Revenue Ruling 90-11, (y) transfers on an established market of AdvanSix Stock that are described in Safe Harbor VII of
Section 1.355-7(d) of the Regulations or (z) issuances of AdvanSix Stock that satisfy Safe Harbor VIII (relating to acquisitions
in connection with a Person’s performance of services) or Safe Harbor IX (relating to acquisitions by a retirement plan of
an employer) of Section 1.355-7(d) of the Regulations; provided, that such transaction or series of transactions shall constitute
a Proposed Acquisition Transaction if meaningful factual diligence is necessary to establish that Section 4.03(b)(ii)(x), (y) or
(z) applies.

 

(c) If AdvanSix merges or consolidates with another
entity to form a new entity, references in this Agreement to AdvanSix shall be to that new entity and AdvanSix Stock shall refer
to the capital stock or other relevant instruments or rights of that new entity.

 

(d) The provisions of this Section 4.03, including
the definition of “Proposed Acquisition Transaction”, are intended to monitor compliance with Section 355 of the Code
and shall be interpreted accordingly. Any clarification of, or

    	 

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change in, Section 355 of the Code or the Regulations thereunder
shall be incorporated into this Section 4.03 and its interpretation.

 

SECTION 4.04. Consent to Take Certain Restricted
Actions. (a) AdvanSix may (and may cause or permit its Subsidiaries to) take an action otherwise prohibited under Section 4.03(a)
if HII consents in writing, which consent shall be at HII’s sole discretion. For the avoidance of doubt, HII’s written
consent pursuant to this Section 4.04(a) shall not in any way relieve AdvanSix of its indemnification obligations under Section
2.02(b).

 

(b) HII may, at its sole discretion and as a
condition to granting its written consent pursuant to Section 4.04(a), require AdvanSix to provide Satisfactory Guidance; provided,
however, the provision of Satisfactory Guidance shall not obligate HII to grant its written consent pursuant to Section
4.04(a).

 

(c) For purposes of this Agreement, “Satisfactory
Guidance” means either a Ruling or an Unqualified Tax Opinion concluding that the proposed action will not cause any step
of the Transactions to fail to qualify for its Intended Tax Treatment. Such Ruling or Unqualified Tax Opinion will constitute Satisfactory
Guidance only if they are satisfactory to HII at its sole discretion in both form and substance, including with respect to any
underlying assumptions or representations and any legal analysis contained therein.

 

(d) For purposes of this Agreement, “Unqualified
Tax Opinion” means an unqualified “will” opinion of a Tax Advisor that permits reliance by HII. The Tax Advisor,
in issuing its opinion, shall be permitted to rely on the validity and correctness, as of the date given, of any previously issued
Tax Opinions/Rulings, unless such reliance would be unreasonable under the circumstances, and shall assume that each of the applicable
Transactions would have qualified for its Intended Tax Treatment if the action in question did not occur.

 

SECTION 4.05. Procedures Regarding Opinions
and Rulings. (a) If AdvanSix notifies HII that it desires to take a restricted action described in Section 4.03(a) and HII
requires Satisfactory Guidance as a condition to consenting to such restricted action pursuant to Section 4.04(b), HII shall use
commercially reasonable efforts to expeditiously obtain, or assist AdvanSix in obtaining, such Satisfactory Guidance. Notwithstanding
the foregoing, HII shall not be required to take any action pursuant to this Section 4.05(a) if, upon request, AdvanSix fails to
certify that all information and representations relating to AdvanSix or any Subsidiary of AdvanSix in the relevant documents are
true, correct and complete or fails to obtain certification from any counterparty to any Proposed Acquisition Transaction that
all information and representations relating to such counterparty in the relevant documents are true, correct and complete. AdvanSix
shall reimburse HII for all reasonable out-of-pocket costs and expenses incurred by HII or any Subsidiary of HII in obtaining Satisfactory
Guidance within 10 business days after receiving an invoice from HII therefor.

    	 

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(b) Notwithstanding anything herein to the contrary,
AdvanSix shall not seek a Ruling with respect to a Pre-Distribution Tax Period (whether or not relating to the Transactions) if
HII determines that there is a reasonable possibility that such action could have a significant adverse impact on HII or any Subsidiary
of HII.

 

SECTION 4.06. Notification and Certification
Regarding Certain Acquisition Transactions. If AdvanSix proposes to enter into any 10% Acquisition Transaction or take any
affirmative action to permit any 10% Acquisition Transaction to occur at any time during the 30-month period following the Distribution
Date, AdvanSix shall undertake in good faith to provide HII, no later than 10 business days following the signing of any written
agreement with respect to such 10% Acquisition Transaction or obtaining knowledge of the occurrence of any such 10% Acquisition
Transaction that takes place without written agreement, with a written description of such transaction (including the type and
amount of AdvanSix Stock to be acquired) and a brief explanation as to why AdvanSix believes that such transaction does not result
in the application of Section 355(e) or 355(f) of the Code to the Transactions. For purposes of this Section 4.06, “10% Acquisition
Transaction” means any transaction or series of transactions that would be a Proposed Acquisition Transaction if the percentage
specified in the definition of Proposed Acquisition Transaction were 10% instead of 40%.

 

SECTION 4.07. Reporting. HII and AdvanSix
shall (i) timely file any appropriate information and statements (including as required by Section 6045B of the Code and Section
1.355-5 and, to the extent applicable, Section 1.368-3 of the Regulations) to report each of the applicable Transactions as qualifying
for its Intended Tax Treatment and (ii) absent a change of Law or an applicable Determination otherwise, not take any position
on any Tax Return that is inconsistent with such qualification.

 

SECTION 4.08. Tax
Treatment of Certain Amounts Paid Pursuant to the EMA. Amounts paid pursuant to the EMA shall be treated in the manner as described
in the EMA.

 

SECTION 4.09. Protective Section 336(e)
Election. (a) HII will make a Protective Section 336(e) Election with respect to the Distribution. Accordingly, the
Parties agree that this Agreement constitutes a written, binding agreement to make a Protective Section 336(e) Election as
contemplated by Section 1.336-2(h)(1)(i) of the Regulations. AdvanSix will cooperate with HII to facilitate the making of
such election.

 

(b) If AdvanSix realizes a Tax benefit from the
step-up in Tax basis resulting from a failure of the Distribution to qualify (in whole or in part) for its Intended Tax Treatment
and the election described in Section 4.09(a), unless AdvanSix has indemnified HII for the resulting Transaction Taxes under Section
2.02(b), AdvanSix shall make quarterly payments to HII in an amount equal to 100 percent of the actual Tax savings if, as and when
realized arising from the step-up in Tax basis resulting from the Protective Section 336(e) Election, determined on a “with
and without” basis (treating any deductions or amortization attributable to the step-up in Tax basis resulting from the Protective
Section 336(e) Election as the last items claimed for any taxable period,

    	 

    		14

    

 including after the utilization of any available net
operating loss carryforwards), net of any reasonable out-of-pocket expenses necessary to secure such Tax savings.

 

ARTICLE
V

 

Procedural Matters

 

SECTION 5.01. Cooperation. Each Party
shall cooperate with reasonable requests from the other Party in matters covered by this Agreement, including in connection with
the preparation and filing of Tax Returns, the calculation of Taxes, the determination of the proper financial accounting treatment
of Tax items and the conduct and settlement of Tax Contests. Such cooperation shall include:

 

(i) retaining until the expiration of
the relevant statute of limitations (including extensions) of records, documents, accounting data, computer data and other information
(“Records”) necessary for the preparation, filing, review, audit or defense of all Tax Returns relevant to an obligation,
right or liability of either Party under this Agreement;

 

(ii) providing the other Party reasonable
access to Records and to its personnel (ensuring their cooperation) and premises during normal business hours to the extent relevant
to an obligation, right or liability of the other Party under this Agreement or otherwise reasonably required by the other Party
to complete Tax Returns or to compute the amount of any payment contemplated by this Agreement; and

 

(iii) notifying the other Party prior
to disposing of any relevant Records and affording the other Party the opportunity to take possession or make copies of such Records
at its discretion.

 

SECTION 5.02. Interest. Any payments
required pursuant to this Agreement that are not made within the time period specified in this Agreement shall bear interest from
the end of that period. Interest required to be paid pursuant to this Agreement shall, unless otherwise specified, be computed
at the rate and in the manner provided in the Code for interest on underpayments and overpayments, as applicable, for the relevant
period.

 

SECTION 5.03. Indemnification Claims and
Payments. (a) An Indemnitee shall be entitled to make a claim for payment with respect to Taxes under this Agreement when the
Indemnitee determines that it is entitled to such payment and is able to calculate with reasonably accuracy the amount of such
payment. Except as otherwise provided in Sections 3.02(b) and 3.03, the Indemnitee shall provide to the Indemnifying Party notice
of such claim within 60 business days of the first date on which it so becomes entitled to make such claim. Such notice shall include
a description of such claim and a detailed calculation of the amount claimed.

    	 

    		15

    

(b) Except as otherwise provided in Sections
3.02(b) and 3.03, the Indemnifying Party shall make the claimed payment to the Indemnitee within 30 business days after receiving
such notice, unless the Indemnifying Party reasonably disputes its liability for, or the amount of, such payment.

 

(c) A failure by an Indemnitee to give notice
as provided in Section 3.02(b), 3.03 or 5.03(a) shall not relieve the Indemnifying Party’s indemnification obligations under
this Agreement, except to the extent that the Indemnifying Party shall have been actually prejudiced by such failure.

 

(d) Nothing in this Section 5.03 shall prejudice
a Party’s right to receive payments pursuant to Section 3.02(b) or 3.03.

 

SECTION 5.04. Amount of Indemnity
Payments. The amount of any Indemnity Payment shall be (i) reduced to take into account any Tax benefit actually realized
by the Indemnitee resulting from the incurrence of the liability in respect of which the Indemnity Payment is made and (ii)
increased to take into account any Tax cost actually realized by the Indemnitee resulting from the receipt of the Indemnity
Payment, including any Tax cost arising from such Indemnity Payment having resulted in income or gain to either Party, for
example, under Section 1.1502-19 of the Regulations, and any Taxes imposed on additional amounts payable pursuant to this
clause (ii). For purposes of calculating the amount of any Tax benefit or Tax cost, the applicable Indemnitee shall be deemed
to be subject to a 39% Tax rate in the taxable year in which such Tax benefit or Tax cost was realized and any Tax attributes
of such Indemnitee shall be disregarded.

 

SECTION 5.05. Treatment of Indemnity
Payments. Any Indemnity Payment (other than any portion of a payment that represents interest accruing after the
Distribution Date) shall be treated by HII and AdvanSix for all Tax purposes as a distribution from AdvanSix to HII
immediately prior to the Distribution (if made by AdvanSix to HII) or as a contribution from HII to AdvanSix immediately
prior to the Distribution (if made by HII to AdvanSix), except as otherwise required by applicable Law or a
Determination.

 

SECTION 5.06. Tax Disputes. Notwithstanding
Section 6.07, this Section 5.06 shall govern the resolution of any dispute arising between the Parties in connection with this
Agreement, other than a dispute (i) relating to liability for Transaction Taxes (ii) in which the amount of liability in dispute
exceeds $20 million (a “Tax Dispute”) or (iii) relating to a Tax Return as described in Section 3.01(c). The Parties
shall negotiate in good faith to resolve any Tax Dispute for 45 calendar days (unless earlier resolved). Upon notice of either
Party after 45 calendar days, the matter will be referred to an Accounting Firm acceptable to both Parties. The Accounting Firm
may, in its discretion, obtain the services of any third party necessary to assist it in resolving the Tax Dispute. The Parties
shall instruct the Accounting Firm to furnish notice to each Party of its resolution of the Tax Dispute as soon as practicable,
but in any event no later than 60 calendar days after its acceptance of the matter for resolution. Any such resolution by the Accounting
Firm will be binding on the Parties and the Parties

    	 

    		16

    

shall take, or cause to be taken, any action necessary to implement the resolution.
All fees and expenses of the Accounting Firm shall be shared equally by the Parties. If, having determined
that a Tax Dispute must be referred to an Accounting Firm, after 45 calendar days the Parties
are unable to find an Accounting Firm willing to adjudicate the Tax Dispute in question and that the Parties in good faith find
acceptable, then this Section 5.06 shall cease to apply to that Tax Dispute.

 

ARTICLE
VI

 

Miscellaneous

 

SECTION 6.01. Termination. This Agreement
will terminate without further action at any time before the Distribution upon termination of the Separation Agreement. If terminated,
no Party will have any Liability of any kind to the other Party or any other Person on account of this Agreement, except as provided
in the Separation Agreement.

 

SECTION 6.02. Applicability. This Agreement
shall not apply before the Distribution.

 

SECTION 6.03. Survival. Except as expressly
set forth in this Agreement, the covenants and indemnification obligations in this Agreement shall survive the Spin-Off and shall
remain in full force and effect.

 

SECTION 6.04. Separation Agreement. The
Parties agree that, in the event of a conflict between the terms of this Agreement and the Separation Agreement with respect to
the subject matter hereof, the terms of this Agreement shall govern.

 

SECTION 6.05. Confidentiality. Each Party
hereby acknowledges that confidential Information of such Party or its Subsidiaries may be exposed to employees and agents of the
other Party or its Subsidiaries as a result of the activities contemplated by this Agreement. Each Party agrees, on behalf of itself
and its Subsidiaries, that such Party’s obligations with respect to Information and data of the other Party or its Subsidiaries
shall be governed by Section 7.08 of the Separation Agreement.

 

SECTION 6.06. Counterparts; Entire
Agreement. (a) This Agreement may be executed in one or more counterparts, all of which counterparts shall be considered
one and the same agreement, and shall become effective when one or more counterparts have been signed by each Party and
delivered to the other Party. This Agreement may be executed by facsimile or PDF signature and a facsimile or PDF signature
shall constitute an original for all purposes.

 

(b) This Agreement, the Separation Agreement,
the other Ancillary Agreements and the Appendices, Exhibits and Schedules hereto and thereto contain the entire agreement between
the Parties with respect to the subject matter hereof and supersede all previous agreements, negotiations, discussions, writings,
understandings, commitments and conversations with respect to such subject matter, and there are no

    	 

    		17

    

agreements or understandings
between the Parties with respect to the subject matter hereof other than those set forth or referred to herein or therein.

 

SECTION 6.07. Governing Law;
Jurisdiction. This Agreement shall be governed by, and construed in accordance with, the Laws of the State of New York,
regardless of the Laws that might otherwise govern under applicable principles of conflicts of laws thereof. Subject to
Section 5.06, each Party irrevocably consents to the exclusive jurisdiction, forum and venue of the Commercial Division of
the Supreme Court of the State of New York, New York County and the United States District Court for the Southern District of
New York over any and all claims, disputes, controversies or disagreements between the Parties or any of their respective
Subsidiaries, Affiliates, successors and assigns under or related to this Agreement or any document executed pursuant to this
Agreement or any of the transactions contemplated hereby or thereby.

 

SECTION 6.08. Waiver of Jury Trial. EACH
PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY THAT MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT
ISSUES, AND THEREFORE EACH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY
IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT. EACH PARTY CERTIFIES AND ACKNOWLEDGES
THAT (i) NO REPRESENTATIVE, AGENT OR ATTORNEY OF THE OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT THE OTHER PARTY
WOULD NOT, IN THE EVENT OF ANY LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER, (ii) EACH PARTY UNDERSTANDS AND HAS CONSIDERED
THE IMPLICATIONS OF THIS WAIVER, (iii) EACH PARTY MAKES THIS WAIVER VOLUNTARILY AND (iv) EACH PARTY HAS BEEN INDUCED TO ENTER INTO
THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 6.08.

 

SECTION 6.09. Assignability. Neither this
Agreement nor any of the rights, interests or obligations under this Agreement shall be assigned, in whole or in part, by operation
of law or otherwise by either Party without the prior written consent of the other Party. Any purported assignment without such
consent shall be void. Subject to the preceding sentences, this Agreement will be binding upon, inure to the benefit of, and be
enforceable by, the Parties and their respective successors and assigns. Notwithstanding the foregoing, either Party may assign
this Agreement without consent in connection with (a) a merger transaction in which such Party is not the surviving entity and
the surviving entity acquires or assumes all or substantially all of such Party’s assets, or (b) the sale of all or substantially
all of such Party’s assets; provided, however, that the assignee expressly assumes in writing all of the obligations
of the assigning Party under this Agreement, and the assigning Party provides written notice and evidence of such assignment and
assumption to the non-assigning Party. No assignment permitted by this Section 6.09 shall release the assigning Party from liability
for the full performance of its obligations under this Agreement.

    	 

    		18

    

SECTION 6.10. Third-Party Beneficiaries. (a)
The provisions of this Agreement are solely for the benefit of the Parties hereto and are not intended to confer upon any Person
except the Parties hereto any rights or remedies hereunder and (b) there are no third-party beneficiaries of this Agreement and
this Agreement shall not provide any third Person with any remedy, claim, liability, reimbursement, cause of action or other right
in excess of those existing without reference to this Agreement.

 

SECTION 6.11. Notices. All notices or
other communications under this Agreement shall be in writing and shall be deemed to be duly given when (a) delivered in person,
(b) on the date received, if sent by a nationally recognized delivery or courier service or (c) upon the earlier of confirmed receipt
or the fifth business day following the date of mailing if sent by registered or certified mail, return receipt requested, postage
prepaid, addressed as follows:

 

If to HII, to:

 

Honeywell International Inc.

115 Tabor Road

Morris Plains, NJ 07950

Attn: Vice President, Tax and General
Tax Counsel

e-mail: Jamie.DiStefano@honeywell.com

 

with a copy to:

 

Cravath, Swaine & Moore LLP

Worldwide Plaza

825 Eighth Avenue

New York, NY 10019

Attn:   Stephen L. Gordon, Esq.
            Lauren Angelilli, Esq.

e-mail: gordon@cravath.com
             langelilli@cravath.com

 

If to AdvanSix, to:

 

AdvanSix Inc.

115 Tabor Road

Morris Plains, NJ 07950

Attn: General Counsel

e-mail: Hans.Quitmeyer@Advan6.com

 

Either Party may, by notice to the other Party,
change the address to which such notices are to be given.

 

SECTION 6.12. Severability. If any provision
of this Agreement or the application thereof to any Person or circumstance is determined by a court of competent

    	 

    		19

    

jurisdiction to
be invalid, void or unenforceable, the remaining provisions hereof, or the application of such provision to Persons or circumstances
or in jurisdictions other than those as to which it has been held invalid or unenforceable, shall remain in full force and effect
and shall in no way be affected, impaired or invalidated thereby, so long as the economic or legal substance of the transactions
contemplated hereby is not affected in any manner materially adverse to either Party. Upon any such determination, any such provision,
to the extent determined to be invalid, void or unenforceable, shall be deemed replaced by a provision that such court determines
is valid and enforceable and that comes closest to expressing the intention of the invalid, void or unenforceable provision.

 

SECTION 6.13. Headings. The article, section
and paragraph headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning
or interpretation of this Agreement.

 

SECTION 6.14. Waivers of Default. No failure
or delay of either Party (or the applicable member of its Group) in exercising any right or remedy under this Agreement shall operate
as a waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance
of steps to enforce such right or power, or any course of conduct, preclude any other or further exercise thereof or the exercise
of any other right or power. Waiver by either Party of any default by the other Party of any provision of this Agreement shall
not be deemed a waiver by the waiving Party of any subsequent or other default.

 

SECTION 6.15. Specific Performance. In
the event of any actual or threatened default in, or breach of, any of the terms, conditions and provisions of this Agreement,
HII shall have the right to specific performance and injunctive or other equitable relief of its rights under this Agreement, in
addition to any and all other rights and remedies at law or in equity, and all such rights and remedies shall be cumulative. AdvanSix
shall not oppose the granting of such relief on the basis that money damages are an adequate remedy. The Parties agree that the
remedies at law for any breach or threatened breach hereof, including monetary damages, are inadequate compensation for any loss
and that any defense in any action for specific performance that a remedy at law would be adequate is waived. Any requirements
for the securing or posting of any bond with such remedy are waived. The Parties acknowledge and agree that the right of specific
enforcement is an integral part of this Agreement and without that right, neither HII nor AdvanSix would have entered into this
Agreement.

 

SECTION 6.16. Amendments. No provisions
of this Agreement shall be deemed waived, amended, supplemented or modified by either Party, unless such waiver, amendment, supplement
or modification is in writing and signed by the authorized representative of each Party.

 

SECTION 6.17. Interpretation. The rules
of interpretation set forth in Section 12.14 of the Separation Agreement shall be incorporated by reference to this Agreement,
mutatis mutandis. NOTWITHSTANDING THE FOREGOING, THE PURPOSE OF ARTICLE IV IS TO ENSURE THAT EACH OF THE APPLICABLE

    	 

    		20

    

TRANSACTIONS
QUALIFIES FOR ITS INTENDED TAX TREATMENT AND, ACCORDINGLY, THE PARTIES AGREE THAT THE LANGUAGE THEREOF SHALL BE INTERPRETED IN
A MANNER THAT SERVES THIS PURPOSE TO THE GREATEST EXTENT POSSIBLE.

 

SECTION 6.18. Compliance by
Subsidiaries. The Parties shall cause their respective Subsidiaries to comply with this Agreement.

    	 

    		21

    

IN WITNESS WHEREOF, the Parties have executed
this Agreement as of the date first written above.

 

	 	HONEYWELL INTERNATIONAL INC.,
	 	 
	 	by
	 	 	/s/ Jeffrey N. Neuman
	 	 	Name: Jeffrey N. Neuman
	 	 	Title:   Vice President, Corporate Secretary and
            Deputy General Counsel

 

	 	AdvanSix Inc.,
	 	 
	 	by
	 	 	/s/ Erin N. Kane
	 	 	Name: Erin N. Kane
	 	 	Title:   President and Chief Executive Officer

    	 

    		 

    

Appendix A

 

Intended Tax Treatment

 

		1.	The Contributions, the Share Issuance and the Special Dividend, taken together,
are intended to be treated as a reorganization described in Section 368(a)(1)(D) of the Code.

 

		2.	The receipt of shares of AdvanSix Common Stock in the Share Issuance and
the receipt of cash in the Special Dividend are each intended to qualify for non-recognition of gain or loss under Section 361.

 

		3.	The Distribution is intended to qualify for non-recognition of gain or loss
under Section 355 and Section 361.Exhibit 10.3

 

EMPLOYEE MATTERS AGREEMENT

 

By and Between

 

HONEYWELL INTERNATIONAL INC.

 

and

 

ADVANSIX INC.

 

Dated as of September 22, 2016

    	 

    	

    

TABLE OF CONTENTS

 

	 	 	Page	 
	ARTICLE I
	 	 	 	 
	DEFINITIONS
	 	 	 	 
	SECTION 1.01.	Definitions	1	 
	 	 	 	 
	ARTICLE II
	 	 	 	 
	GENERAL PRINCIPLES
	 	 	 	 
	SECTION 2.01.	AdvanSix Employees	5	 
	SECTION 2.02.	Collectively Bargained Employees	5	 
	SECTION 2.03.	Collective Bargaining Agreements	5	 
	SECTION 2.04.	Liabilities	5	 
	SECTION 2.05.	Benefit Plans	6	 
	SECTION 2.06.	Payroll Services	6	 
	SECTION 2.07.	No Change in Control	6	 
	 	 	 	 
	ARTICLE III
	 
	NON-EQUITY INCENTIVES
	 	 	 	 
	SECTION 3.01.	AdvanSix Employee Incentives	7	 
	 	 	 	 
	ARTICLE IV
	 
	SERVICE CREDIT
	 	 	 	 
	SECTION 4.01.	Honeywell Benefit Plans	7	 
	SECTION 4.02.	AdvanSix Benefit Plans	7	 
	 	 	 	 
	ARTICLE V
	 
	SEVERANCE
	 	 	 	 
	SECTION 5.01.	Post-Distribution Severance	8	 
	 	 	 	 
	ARTICLE VI
	 
	CERTAIN WELFARE BENEFIT PLAN MATTERS; WORKERS’ COMPENSATION CLAIMS
	 	 	 	 
	SECTION 6.01.	AdvanSix Welfare Plans	8	 
	SECTION 6.02.	Allocation of Welfare Benefit Claims	8	 

    	i

    	

    

	SECTION 6.03.	Workers’ Compensation Claims	9	 
	SECTION 6.04.	COBRA	9	 
	SECTION 6.05.	Health Savings Account	9	 
	SECTION 6.06.	Flexible Spending Account	10	 
	 	 	 	 
	ARTICLE VII
	 
	LONG-TERM DISABILITY
	 	 	 	 
	SECTION 7.01.	Benefits	10	 
	SECTION 7.02.	Return to Work	10	 
	 	 	 	 
	ARTICLE VIII
	 	 	 	 
	DEFINED BENEFIT PENSION PLAN
	 	 	 	 
	SECTION 8.01.	Honeywell Defined Benefit Pension Plan	10	 
	 	 	 	 
	ARTICLE IX
	 	 	 	 
	DEFINED CONTRIBUTION PLAN
	 	 	 	 
	SECTION 9.01.	AdvanSix 401(k) Plan	11	 
	SECTION 9.02.	401(k) Rollover	11	 
	SECTION 9.03.	Employer 401(k) Plan Contributions	11	 
	SECTION 9.04.	Stock Considerations	12	 
	SECTION 9.05.	Limitation of Liability	12	 
	 	 	 	 
	ARTICLE X
	 	 	 	 
	NONQUALIFIED DEFERRED COMPENSATION
	 	 	 	 
	SECTION 10.01.	Honeywell Nonqualified Deferred Compensation Plans	12	 
	 	 	 	 
	ARTICLE XI
	 	 	 	 
	VACATION
	 	 	 	 
	SECTION 11.01.	Vacation	13	 
	 	 	 	 
	ARTICLE XII
	 	 	 	 
	LONG-TERM INCENTIVE COMPENSATION AWARDS
	 	 	 	 
	SECTION 12.01.	AdvanSix Long-Term Incentive Plan	13	 
	SECTION 12.02.	Equity Award Adjustments	13	 
	SECTION 12.03.	Treatment of Incentive Awards Upon Distribution	13	 
	SECTION 12.04.	Incentive Award Reimbursement	14	 

    	ii

    	

    

	SECTION 12.05.	Cooperation	14	 
	SECTION 12.06.	Treatment of Reimbursements	15	 
	 	 	 	 
	ARTICLE XIII
	 	 	 	 
	COOPERATION; ACCESS TO INFORMATION; LITIGATION; CONFIDENTIALITY
	 	 	 	 
	SECTION 13.01.	Cooperation	15	 
	SECTION 13.02.	Access to Information; Litigation; Confidentiality	15	 
	 	 	 	 
	ARTICLE XIV
	 	 	 	 
	TERMINATION
	 	 	 	 
	SECTION 14.01.	Termination	16	 
	SECTION 14.02.	Effect of Termination	16	 
	 	 	 	 
	ARTICLE XV
	 	 	 	 
	MISCELLANEOUS
	 	 	 	 
	SECTION 15.01.	Incorporation of Indemnification Provisions of Separation Agreement	16	 
	SECTION 15.02.	Benefit Plan Indemnification	16	 
	SECTION 15.03.	Further Assurances	16	 
	SECTION 15.04.	Administration	16	 
	SECTION 15.05.	Third-Party Beneficiaries	16	 
	SECTION 15.06.	Employment Tax Reporting Responsibility	17	 
	SECTION 15.07.	Data Privacy	17	 
	SECTION 15.08.	Section 409A	17	 
	SECTION 15.09.	Confidentiality	17	 
	SECTION 15.10.	Additional Provisions	18	 

    	iii

    	

    

EMPLOYEE MATTERS AGREEMENT (this
“Agreement”), dated as of 22, 2016, by and between HONEYWELL INTERNATIONAL INC., a Delaware corporation (“Honeywell”),
and ADVANSIX, INC., a Delaware corporation (“AdvanSix”, and together with Honeywell, the “Parties”).

 

R E C I T A L S

 

WHEREAS the Parties have entered into the
Separation and Distribution Agreement (the “Separation Agreement”) dated as of 22, 2016, pursuant to which
Honeywell intends to effect the Distribution; and

 

WHEREAS the Parties wish to set forth their
agreements as to certain matters regarding employment, compensation and employee benefits.

 

NOW, THEREFORE, in consideration of the
mutual agreements, provisions and covenants contained in this Agreement, the Parties, intending to be legally bound, hereby agree
as follows:

 

ARTICLE
I

 

DEFINITIONS

 

SECTION 1.01. Definitions. For purposes
of this Agreement, the following terms shall have the following meanings. All capitalized terms used but not defined herein shall
have the meanings assigned to them in the Separation Agreement unless otherwise indicated.

 

“AdvanSix 401(k) Plan”
has the meaning set forth in Section 9.01.

 

“AdvanSix Benefit Plan”
shall mean any Benefit Plan sponsored, maintained or, unless such Benefit Plan is sponsored or maintained by a member of the Honeywell
Group, contributed to by any member of the AdvanSix Group or to which any member of the AdvanSix Group is a party.

 

“AdvanSix Employee” shall
mean, as of any applicable date, (a) each individual who is an employee of the AdvanSix Group as of immediately prior to the Distribution,
including any individual who is not actively at work due to a leave of absence (including vacation, holiday, illness, injury,
short-term disability but excluding, until such time as provided in Section 7.01, any AdvanSix LTD Employee) from which
such employee is permitted to return to active employment in accordance with the AdvanSix Group’s personnel policies, as
in effect from time to time, or applicable Law and (b) each individual who becomes an active employee of the AdvanSix Group following
the Distribution, but, in each case, excluding any Former AdvanSix Employee.

 

“AdvanSix Incentive Payments”
has the meaning set forth in Section 3.01

    	 

    	

    

2

 

“AdvanSix Long-Term Incentive Plan”
has the meaning set forth in Section 12.01.

 

“AdvanSix LTD Employee”
shall mean any employee of the AdvanSix Group who, as of immediately prior to the Distribution, is receiving long-term disability
benefits under the Honeywell LTD Plan.

 

“AdvanSix Pre-Distribution HR Liabilities”
has the meaning set forth in Section 2.04.

 

“AdvanSix Welfare Plans”
has the meaning set forth in Section 6.01.

 

“AdvanSix Workers’ Compensation
Plan” has the meaning set forth in Section 6.03.

 

“Benefit Plan” shall
mean any plan, program, policy, agreement, arrangement or understanding that is an employment, consulting, deferred compensation,
executive compensation, incentive bonus or other bonus, employee pension, profit sharing, savings, retirement, supplemental retirement,
stock option, stock purchase, stock appreciation right, restricted stock, restricted stock unit, deferred stock unit, other equity-based
compensation, severance pay, retention, change in control, salary continuation, life, death benefit, health, hospitalization,
workers’ compensation, sick leave, vacation pay, disability or accident insurance or other employee compensation or benefit
plan, program, agreement or arrangement, including any “employee benefit plan” (as defined in Section 3(3) of ERISA)
(whether or not subject to ERISA) sponsored or maintained by such entity or to which such entity is a party.

 

“China Services
Agreement” means the China Services Agreement dated as September 29, 2016 to be entered into by and between Honeywell
and AdvanSix.

 

“COBRA” shall mean the
U.S. Consolidated Omnibus Budget Reconciliation Act of 1985, as amended from time to time, and any applicable similar state or
local laws.

 

“Code” shall mean the
U.S. Internal Revenue Code of 1986, as amended.

 

“Collective Bargaining Agreements”
has the meaning set forth in Section 2.02.

 

“Employment Taxes” shall
mean all fees, Taxes, social insurance payments or similar contributions to a fund of a Governmental Authority with respect to
wages or other compensation of an employee or other service provider.

 

“ERISA” shall mean the
U.S. Employee Retirement Income Security Act of 1974, as amended from time to time.

 

“Exchange” means the
New York Stock Exchange.

    	 

    	

    

3

 

“Former AdvanSix Employee”
shall mean, as of any applicable date, each individual who (a) as of immediately prior to such individual’s termination
of employment was an AdvanSix Employee and (b) as of such applicable date, is not employed by any member of the AdvanSix Group.

 

“GPUs” shall mean any
growth plan units awarded using a 2014 or 2016 Growth Plan Agreement under the Honeywell 2011 Stock Incentive Plan.

 

“Honeywell 401(k) Plan”
has the meaning set forth in Section 9.01.

 

“Honeywell Benefit Plan”
shall mean any Benefit Plan sponsored, maintained or, unless such Benefit Plan is sponsored or maintained by a member of the AdvanSix
Group, contributed to by any member of the Honeywell Group or to which any member of the Honeywell Group is a party.

 

“Honeywell Equity Plans”
shall mean the 2016 Stock Incentive Plan, the 2016 Stock Plan for Non-Employee Directors, the 2011 Stock Incentive Plan, the 2006
Stock Incentive Plan, the 2003 Stock Incentive Plan, the 2006 Stock Plan for Non-Employee Directors, the Stock Plan for Non-Employee
Directors, each as amended from time to time, and any other stock option, stock incentive compensation plan or arrangement, including
equity award agreements, that is a Honeywell Benefit Plan, as in effect as of the time relevant to
the applicable provision of this Agreement.

 

“Honeywell Flexible Spending Account”
shall mean any flexible spending arrangement under any cafeteria plan qualifying under Section 125 of the Code that is a Honeywell
Benefit Plan.

 

“Honeywell Health Savings Account”
shall mean any health savings account under a health savings account plan that is a Honeywell Benefit Plan.

 

“Honeywell LTD Plan”
shall mean any long-term disability plan that is a Honeywell Benefit Plan.

 

“Honeywell Nonqualified Deferred
Compensation Plans” shall mean the Salary and Incentive Award Deferral Plan for Selected Employees, the Deferred Compensation
Plan for Non-Employee Directors, the Supplemental Non-Qualified Savings Plan for Highly Compensated Employees, the Supplemental
Pension Plan, the Supplemental Executive Retirement Plan for Executives in Career Band 6 and Above, the Supplemental Defined Benefit
Retirement Plan, the Nonqualified Supplemental Retirement Plan, each as amended from time to time, and any other nonqualified
deferred compensation plan or arrangement (including individual arrangements) that is a Honeywell Benefit Plan, as
in effect as of the time relevant to the applicable provision of this Agreement.

 

“Honeywell Pension Plan”
has the meaning set forth in Section 8.01.

 

“Honeywell Welfare Plan”
shall mean each Welfare Plan that is a Honeywell Benefit Plan.

    	 

    	

    

4

 

“Honeywell Workers’ Compensation
Plan” shall mean any workers’ compensation plan that is a Honeywell Benefit Plan.

 

“Reimbursement Award”
means the unvested portion of any award granted under any Honeywell Equity Plan that (i) was unvested as of immediately prior
to the Distribution Date, (ii) was held by an AdvanSix Employee (or AdvanSix LTD Employee who becomes an AdvanSix Employee prior
to the applicable Reimbursement Event) as of the Distribution Date and (iii) becomes vested after the Distribution Date in accordance
with Section 12.03.

 

“Reimbursement Event”
means, after the Distribution Date, (i) the vesting of any Reimbursement Award that is a restricted stock award or similar award
of tangible property, (ii) the settlement of any Reimbursement Award that is a restricted stock unit or similar full-value share-based
incentive award (excluding any restricted stock award) or cash-based incentive award (including any GPUs) or (iii) the exercise
of any Reimbursement Award that is a stock option or stock appreciation right.

 

“Subsidiary” of any Person
shall mean any corporation or other organization whether incorporated or unincorporated of which at least a majority of the securities
or interests having by the terms thereof ordinary voting power to elect at least a majority of the board of directors or others
performing similar functions with respect to such corporation or other organization is directly or indirectly owned or controlled
by such Person or by any one or more of its Subsidiaries, or by such Person and one or more of its Subsidiaries; provided,
however, that, solely for purposes of this Agreement, AdvanSix and its Subsidiaries shall not be considered Subsidiaries
of Honeywell (or members of the Honeywell Group) prior to, on or after the Distribution.

 

“Tax Return” shall have
the meaning set forth in the TMA.

 

“Taxes” shall have the
meaning set forth in the TMA.

 

“Taxing Authority” shall
have the meaning set forth in the TMA.

 

“TMA” shall mean the
Tax Matters Agreement dated as of the date of this Agreement by and between Honeywell and AdvanSix.

 

“TSA” shall mean the
Transition Services Agreement dated as of the date of this Agreement by and between Honeywell and AdvanSix.

 

“Vesting Date” has the
meaning set forth in Section 12.03.

 

“Welfare Plan” shall
mean each Benefit Plan that provides life insurance, health care, dental care, accidental death and dismemberment insurance, disability,
severance, vacation or other group welfare or fringe benefits.

 

“Welfare Plan Date” has
the meaning set forth in Section 6.01.

    	 

    	

    

5

 

“Workers’ Compensation Event”
shall mean the event, injury, illness or condition giving rise to a workers compensation claim with respect to an AdvanSix Employee
or Former AdvanSix Employee.

 

“Workers’ Compensation Plan
Date” has the meaning set forth in Section 6.03.

 

ARTICLE
II

 

GENERAL
PRINCIPLES

 

SECTION 2.01. AdvanSix Employees.
Except as may otherwise be provided in accordance with the China Services Agreement, all AdvanSix Employees as of immediately
prior to the Distribution shall continue to be employees of the AdvanSix Group immediately following the Distribution. The Parties
hereto agree that none of the transactions contemplated by the Separation Agreement or any of the Ancillary Agreements, including
this Agreement, shall result in any AdvanSix Employee, AdvanSix LTD Employee or Former AdvanSix Employee being deemed to have
incurred a termination of employment or being eligible to receive severance benefits, solely as a result of the Distribution.

 

SECTION 2.02. Collectively Bargained
Employees. All provisions contained in this Agreement providing for the treatment of compensation and benefits in connection
with the Distribution shall apply equally to any employee who is covered by any collective bargaining, works council or other
labor union contract or labor arrangement (collectively, “Collective Bargaining Agreements”), except to the
extent that any such agreement specifically provides for the compensation or benefits contemplated by such provision and, in each
such case, such agreement shall apply rather than the terms of this Agreement.

 

SECTION 2.03. Collective Bargaining
Agreements. As of the Distribution, AdvanSix shall, and shall cause the members of the AdvanSix Group as appropriate to, adopt
and assume any Collective Bargaining Agreement covering any of the AdvanSix Employees immediately prior to the Distribution, subject
to any agreed upon changes required by the transition of such Collective Bargaining Agreement to AdvanSix or applicable Law, and
recognize the works councils, labor unions and other employee representatives that are party to such Collective Bargaining Agreements;
provided that, any compensation or benefits that were, prior to the Distribution, provided to AdvanSix Employees under
the Collective Bargaining Agreements through the Honeywell Benefit Plans shall, to the extent such compensation and benefits are
still required to be provided under the Collective Bargaining Agreements on and after the Distribution, be provided as mutually
agreed with such works councils, labor unions and other employee representatives through the AdvanSix Benefit Plans as set forth
in this Agreement.

 

SECTION 2.04. Liabilities. Except
as otherwise provided in this Agreement, (a) the members of the Honeywell Group shall be responsible for all actual or

    	 

    	

    

6

 

potential employment and employee compensation
and benefits-related Liabilities incurred prior to the Distribution that relate to AdvanSix Employees and Former AdvanSix Employees
(and each of their respective dependents and beneficiaries), excluding any such Liabilities that AdvanSix retains or assumes pursuant
to applicable Law in connection with the Distribution (collectively, with all other such Liabilities that the AdvanSix Group retains
or assumes in connection with this Agreement, the “AdvanSix Pre-Distribution HR Liabilities”) and (b) the members
of the AdvanSix Group shall be responsible for (i) all actual or potential employment and employee compensation and benefits-related
Liabilities incurred on or after the Distribution that relate to AdvanSix Employees and Former AdvanSix Employees (and each of
their respective dependents and beneficiaries) and (ii) the AdvanSix Pre-Distribution HR Liabilities. AdvanSix shall pay or provide
all AdvanSix Pre-Distribution HR Liabilities in the ordinary course and at a time or times consistent with the past practice of
the Honeywell Group.

 

SECTION 2.05. Benefit Plans. Except
as otherwise specifically provided in this Agreement or as may otherwise be provided in accordance with the TSA or the China Services
Agreement, as of the Distribution, each AdvanSix Employee (and each of their respective dependents and beneficiaries) shall cease
active participation in, and each member of the AdvanSix Group shall cease to be a participating employer in, all Honeywell Benefit
Plans, and, as of such time, AdvanSix shall, or shall cause its Subsidiaries to, have in effect such corresponding AdvanSix Benefit
Plans as are necessary to comply with its obligations pursuant to this Agreement. As of immediately following the Distribution,
except as otherwise specifically provided in this Agreement, (a) Honeywell shall, or shall cause one or more members of the Honeywell
Group to, retain, pay, perform, fulfill and discharge all Liabilities arising out of or relating to all Honeywell Benefit Plans,
and (b) AdvanSix shall, or shall cause one of the members of the AdvanSix Group to, retain, pay, perform, fulfill and discharge
all Liabilities arising out of or relating to all AdvanSix Benefit Plans.

 

SECTION 2.06. Payroll Services. Except
as may otherwise be provided in accordance with the TSA or the China Services Agreement, prior to, on and after the Distribution,
the members of the AdvanSix Group shall be solely responsible for providing payroll services to the AdvanSix Employees and Former
AdvanSix Employees.

 

SECTION 2.07. No Change in Control. The Parties hereto agree that none of the transactions contemplated by the Separation Agreement or any of the Ancillary Agreements,
including this Agreement, constitutes a “change in control,” “change of control” or similar term, as applicable,
within the meaning of any Honeywell Benefit Plan or AdvanSix Benefit Plan, including the AdvanSix Long-Term Incentive Plan.

    	 

    	

    

7

 

ARTICLE
III

 

NON-EQUITY
INCENTIVES

 

SECTION 3.01. AdvanSix
Employee Incentives. Unless otherwise provided for in an individual agreement with an AdvanSix Employee to which
Honeywell is a party, on and after the Distribution, AdvanSix shall assume and be solely responsible for Liabilities with
respect to any annual bonus or other cash-based incentive or retention awards (other than GPUs, which shall be treated in
accordance with Article XII) under any Benefit Plan to any AdvanSix Employee, AdvanSix LTD Employee or Former AdvanSix
Employee, including, for the avoidance of doubt, any such awards with respect to the year in which the Distribution occurs
(the “AdvanSix Incentive Payments”). AdvanSix shall be responsible for determining the amounts of all
AdvanSix Incentive Payments that have not been determined prior to the Distribution, including the extent to which
established performance criteria (as interpreted by AdvanSix, in its sole discretion) have been met, and shall pay all
AdvanSix Incentive Payments no later than the times provided for under the applicable Benefit Plan. For the avoidance of
doubt, any determinations made prior to the Distribution regarding the amounts of any AdvanSix Incentive Payments shall be
subject to Honeywell’s prior written approval.

 

ARTICLE
IV

 

SERVICE
CREDIT

 

SECTION 4.01. Honeywell Benefit
Plans. Except as may otherwise be provided in accordance with the TSA or the China Services Agreement and except as
otherwise provided in Section 12.03, service of AdvanSix Employees and Former AdvanSix Employees, on and after the
Distribution, with any member of the AdvanSix Group or any other employer, as applicable, other than any member of the
Honeywell Group, shall not be taken into account for any purpose under any Honeywell Benefit Plan.

 

SECTION 4.02. AdvanSix Benefit
Plans. Unless prohibited by applicable Law, AdvanSix shall, and shall cause its Subsidiaries to, credit service accrued
by each AdvanSix Employee with, or otherwise recognized for purposes of any Benefit Plan by, any member of the Honeywell
Group or the AdvanSix Group on or prior to the Distribution for purposes of (a) eligibility and vesting under each AdvanSix
Benefit Plan under which service is relevant in determining eligibility or vesting, (b) determining the amount of severance
payments and benefits (if any) payable under each AdvanSix Benefit Plan that provides severance payments or benefits and (c)
determining the number of vacation days to which each such employee shall be entitled following the Distribution, in the case
of clauses (a), (b) and (c), (i) to the same extent recognized by the relevant members of the Honeywell Group or AdvanSix
Group or the corresponding Honeywell Benefit Plan or AdvanSix Benefit Plan immediately prior to the later of the Distribution
Date and the date such employee ceases participating in the applicable Honeywell Benefit Plan in accordance with the TSA or
the China Services Agreement and (ii) except to the extent such credit would result in a duplication of benefits for the same
period of service.

    	 

    	

    

8

 

ARTICLE V

 

SEVERANCE

 

SECTION 5.01. Post-Distribution
Severance. The AdvanSix Group shall be solely responsible for all Liabilities, including all severance or other
separation payments and benefits, relating to the termination or alleged termination of any AdvanSix Employee’s or
Former AdvanSix Employee’s employment that occurs on or after the Distribution. For the avoidance of doubt, such
Liabilities shall include any employer-paid portion of any Employment Taxes.

 

ARTICLE
VI

 

CERTAIN
WELFARE BENEFIT PLAN MATTERS; WORKERS’ COMPENSATION CLAIMS

 

SECTION 6.01. AdvanSix Welfare
Plans. Without limiting the generality of Section 2.05, effective as of the Distribution or such later date as
agreed to between Honeywell and AdvanSix in accordance with the TSA or the China Services Agreement (such applicable date,
the “Welfare Plan Date”), AdvanSix shall establish Welfare Plans (collectively, the “AdvanSix
Welfare Plans”) to provide welfare benefits to the AdvanSix Employees (and their dependents and beneficiaries) and
as of the applicable Welfare Plan Date, each AdvanSix Employee (and his or her dependants and beneficiaries) shall cease
active participation in the corresponding Honeywell Welfare Plan. For the avoidance of doubt, for purposes of this Article
VI, the term “AdvanSix Employees” shall be deemed to include any Former AdvanSix Employee who was receiving
welfare benefits in connection with his or her termination of employment from a member of the Honeywell Group or the AdvanSix
Group as of the applicable Welfare Plan Date.

 

SECTION 6.02. Allocation of Welfare
Benefit Claims. (a) The members of the Honeywell Group shall retain all Liabilities in accordance with the applicable Honeywell
Welfare Plan for all reimbursement claims (such as medical and dental claims) and for all non-reimbursement claims (such as life
insurance claims), in each case, incurred by AdvanSix Employees and Former AdvanSix Employees (and each of their respective dependents
and beneficiaries) under such plans prior to the applicable Welfare Plan Date and (b) the members of the AdvanSix Group shall
retain all Liabilities in accordance with the AdvanSix Welfare Plans for all reimbursement claims (such as medical and dental
claims) and for all non-reimbursement claims (such as life insurance claims), in each case, incurred by AdvanSix Employees and
Former AdvanSix Employees (and each of their respective dependents and beneficiaries) on or after the Applicable Welfare Plan
Date; provided that, AdvanSix shall reimburse Honeywell in accordance with the TSA and the China Services Agreement for
Liabilities incurred under clause (a) between the Distribution Date and the applicable Welfare Plan Date. For purposes of this
Section 6.02, a benefit claim shall be deemed to be incurred as follows: (i) health, dental, vision, employee assistance
program and prescription drug benefits (including in respect of any hospital confinement), upon provision of such services,

    	 

    	

    

9

 

materials or supplies; and (ii) life, accidental
death and dismemberment and business travel accident insurance benefits, upon the death, cessation of employment or other event
giving rise to such benefits.

 

SECTION 6.03. Workers’ Compensation
Claims. In the case of any workers’ compensation claim of any AdvanSix Employee or Former AdvanSix Employee in respect
of his or her employment with the Honeywell Group or the AdvanSix Group, such claim shall be covered (a) under the applicable
Honeywell Workers’ Compensation Plan if the Workers’ Compensation Event occurred prior to the Distribution, (b) under
a workers’ compensation plan of the AdvanSix Group (each, an “AdvanSix Workers’ Compensation Plan”)
if the Workers’ Compensation Event occurs on or after the Distribution and the related claim is submitted after the date
AdvanSix has established a workers’ compensation plan (the “Workers’ Compensation Plan Date”) and
(c) under the applicable Honeywell Workers’ Compensation Plan if the Workers’ Compensation Event occurs on or after
the Distribution and the related claim is submitted prior to the Workers Compensation Plan Date; provided that, AdvanSix
shall reimburse Honeywell in accordance with the TSA and the China Services Agreement for Liabilities incurred under clause (c)
between the Distribution Date and the applicable Welfare Plan Date. If the Workers’ Compensation Event occurs over a period
both preceding and following the Distribution, the claim shall be jointly covered under the Honeywell Workers’ Compensation
Plan and the AdvanSix Workers’ Compensation Plan and shall be equitably apportioned between them based upon the relative
periods of time that the Workers’ Compensation Event transpired preceding and following the Distribution; provided
that, if a claim in respect of such Workers’ Compensation Event is submitted prior to the Workers’ Compensation Plan
Date, then such claim shall be covered under the Honeywell Workers’ Compensation Plan and AdvanSix shall appropriately reimburse
Honeywell in accordance with the TSA and the China Services Agreement.

 

SECTION 6.04. COBRA. In the event
that an AdvanSix Employee or Former AdvanSix Employee (a) was receiving, or was eligible to receive, continuation health coverage
pursuant to COBRA on or prior to the applicable Welfare Plan Date, Honeywell and the Honeywell Welfare Plans shall be responsible
for all Liabilities to such employee (or his or her eligible dependents) in respect of COBRA; or (b) becomes eligible to receive
continuation health coverage pursuant to COBRA following the applicable Welfare Plan Date, AdvanSix and the AdvanSix Welfare Plans
shall be responsible for all Liabilities to such employee (or his or her eligible dependents) in respect of COBRA; provided
that, AdvanSix shall reimburse Honeywell in accordance with the TSA and the China Services Agreement for Liabilities incurred
under clause (a) between the Distribution Date and the applicable Welfare Plan Date. AdvanSix shall indemnify, defend and hold
harmless the members of the Honeywell Group from and against any and all Liabilities relating to, arising out of or resulting
from COBRA provided by AdvanSix, or the failure of AdvanSix to meet its COBRA obligations, to AdvanSix Employees, Former AdvanSix
Employees and their respective eligible dependents.

 

SECTION 6.05. Health Savings
Account. Without limiting the generality of Sections 2.04, 2.05 and 13.01 and subject to Section 15.09,
Honeywell and

    	 

    	

    

10

 

AdvanSix shall use commercially reasonable
efforts to cooperate in administering any Honeywell Health Savings Account in connection with the Distribution in accordance with
the terms of the applicable Honeywell Benefit Plan, including by exchanging any necessary participant records and engaging recordkeepers,
administrators, providers, insurers and other third parties.

 

SECTION 6.06. Flexible Spending
Account. Without limiting the generality of Sections 2.04, 2.05 and 13.01 and subject to Section 15.09,
Honeywell and AdvanSix shall use commercially reasonable efforts to cooperate in administering any Honeywell Flexible
Spending Account in connection with the Distribution in accordance with the terms of the applicable Honeywell Benefit Plan,
including by exchanging any necessary participant records and engaging recordkeepers, administrators, providers, insurers and
other third parties.

 

ARTICLE
VII

 

LONG-TERM
DISABILITY

 

SECTION 7.01. Benefits. Except
as otherwise specifically provided in this Agreement and subject to Section 7.02, on and after the Distribution, the AdvanSix
LTD Employees shall be deemed to be employees of the Honeywell Group for purposes of this Agreement, including participation in
the Honeywell LTD Plans.

 

SECTION 7.02. Return to Work. To
the extent required by applicable AdvanSix policies, as in effect from time to time, and applicable Law, AdvanSix shall, or shall
cause its Subsidiaries to, employ any AdvanSix LTD Employee at such time, if any, as such AdvanSix LTD Employee is ready to return
to active employment, and from and after such time, such employee shall no longer be deemed an employee of the Honeywell Group
and shall be deemed an AdvanSix Employee for purposes of this Agreement; provided that, if such AdvanSix LTD Employee presents
himself or herself for active employment and is not employed by a member of the AdvanSix Group due to applicable AdvanSix policies,
and if such AdvanSix LTD Employee’s employment is terminated by a member of the Honeywell Group within a reasonable time
thereafter, AdvanSix shall indemnify the Honeywell Group for all Liabilities incurred in connection with such termination.

 

ARTICLE
VIII

 

DEFINED
BENEFIT PENSION PLAN

 

SECTION 8.01. Honeywell Defined Benefit
Pension Plan. Notwithstanding Section 2.05 or any other provision of this Agreement to the contrary, following the
Distribution, the Honeywell Group shall retain sponsorship of the Honeywell International Inc. Retirement Earnings Plan (the “Honeywell
Pension Plan”) and all assets and Liabilities arising out of or relating to the Honeywell Pension Plan, including those
relating to AdvanSix Employees, AdvanSix LTD Employees and Former AdvanSix Employees. Following the date of this Agreement, Honeywell
and AdvanSix

    	 

    	

    

11

 

shall use commercially reasonable efforts
to cooperate in administering the Honeywell Pension Plan in connection with providing benefits to AdvanSix Employees and Former
AdvanSix Employees in accordance with the terms of the Honeywell Pension Plan, including by exchanging any necessary participant
records and engaging recordkeepers, administrators, providers, insurers and other third parties.

 

ARTICLE
IX

 

DEFINED
CONTRIBUTION PLAN

 

SECTION 9.01. AdvanSix 401(k)
Plan. Effective as of the Distribution, AdvanSix shall establish a defined contribution plan that includes a qualified
cash or deferred arrangement within the meaning of Section 401(k) of the Code (the “AdvanSix 401(k) Plan”)
providing benefits to the AdvanSix Employees participating in any qualified cash or deferred arrangement within the meaning
of Section 401(k) of the Code sponsored by any member of the Honeywell Group (collectively, the “Honeywell 401(k)
Plans”) as of the Distribution.

 

SECTION 9.02. 401(k)
Rollover. As of the Distribution, the Honeywell Group shall permit each AdvanSix Employee to elect, and the AdvanSix Group
shall cause the AdvanSix 401(k) Plan to accept, in accordance with applicable Law and the terms of the Honeywell 401(k) Plans
and the AdvanSix 401(k) Plan, a rollover of the account balances (including earnings through the date of transfer and promissory
notes evidencing all outstanding loans) of such AdvanSix Employee under the Honeywell 401(k) Plans, if such rollover is elected
in accordance with applicable Law and the terms of the Honeywell 401(k) Plan and by such employee. Upon completion of a transfer
of the account balances of any AdvanSix Employee, as described in this Section 9.02, AdvanSix and the AdvanSix 401(k) Plan
shall be responsible for all Liabilities of the Honeywell Group under the Honeywell 401(k) Plan with respect to any AdvanSix Employee
or Former AdvanSix Employee whose account balance was transferred to the AdvanSix 401(k) Plan (and his or her respective beneficiaries),
and the Honeywell Group and the Honeywell 401(k) Plan shall have no Liabilities to provide such participants (or any of their
beneficiaries) with benefits under the Honeywell 401(k) Plan. In the event that the elections by AdvanSix Employees pursuant to
this Section 9.02 in connection with the Distribution result in a mass rollover, Honeywell and AdvanSix shall use commercially
reasonable efforts to cooperate to effect such mass rollover, including by exchanging any necessary participant records and engaging
recordkeepers, administrators, providers, insurers and other third parties.

 

SECTION 9.03. Employer 401(k) Plan
Contributions. The Honeywell Group shall remain responsible for making all employer contributions under the Honeywell 401(k)
Plan with respect to any AdvanSix Employees or Former AdvanSix Employees relating to periods prior to the Distribution; provided that, prior to the rollover of any AdvanSix Employee’s or Former AdvanSix Employee’s account pursuant to Section
9.02, the Honeywell Group shall make all employer contributions with respect to such AdvanSix Employee or Former AdvanSix
Employee required under the Honeywell 401(k) Plan for periods of time prior to the Distribution. Any such

    	 

    	

    

12

 

contributions that are unvested as of the
Distribution shall be treated in accordance with the terms of the Honeywell 401(k) Plan. On and after the Distribution, the AdvanSix
Group shall be responsible for all employer contributions under the AdvanSix 401(k) Plan with respect to any AdvanSix Employees
or Former AdvanSix Employees.

 

SECTION 9.04. Stock
Considerations. Following the Distribution, AdvanSix Employees and Former AdvanSix Employees shall not be permitted to
acquire shares of Honeywell Common Stock in any stock fund under the AdvanSix 401(k) Plan.

 

SECTION 9.05. Limitation of
Liability. For the avoidance of doubt, Honeywell shall have no responsibility for any failure of AdvanSix to properly
administer the AdvanSix 401(k) Plan in accordance with its terms and applicable Law, including any failure to properly
administer the accounts of AdvanSix Employees, Former AdvanSix Employees and their respective beneficiaries, including
accounts rolled over in accordance with Section 9.02, in such AdvanSix 401(k) Plan.

 

ARTICLE
X

 

NONQUALIFIED
DEFERRED COMPENSATION

 

SECTION 10.01. Honeywell Nonqualified
Deferred Compensation Plans. The Honeywell Group shall retain all assets and all Liabilities arising out of or relating to
the Honeywell Nonqualified Deferred Compensation Plans related to any AdvanSix Employee or Former AdvanSix Employee (and their
respective beneficiaries) in connection with his or her service prior to the Distribution, including the obligation to make all
payments or distributions in respect of such Liabilities in accordance with the terms of the applicable Honeywell Nonqualified
Deferred Compensation Plan. The Parties hereto agree that none of the transactions contemplated by the Separation Agreement or
any of the Ancillary Agreements, including this Agreement, will trigger a payment or distribution of compensation under the Honeywell
Nonqualified Deferred Compensation Plans to any AdvanSix Employee or Former AdvanSix Employee (and their respective beneficiaries)
and, consequently, that the payment or distribution of any compensation to which any AdvanSix Employee or Former AdvanSix Employee
(and their respective beneficiaries) is entitled under the Honeywell Nonqualified Deferred Compensation Plans will occur upon
the time or times provided for under the applicable Honeywell Nonqualified Deferred Compensation Plans and such AdvanSix Employee’s
or Former AdvanSix Employee’s deferral elections. Following the payment or distribution of such amounts to the AdvanSix
Employees, Former AdvanSix Employees or their respective beneficiaries, the members of the Honeywell Group shall have no actual
or potential Liabilities relating to, arising out of or resulting from the participation of the AdvanSix Employees and Former
AdvanSix Employees in the Honeywell Nonqualified Deferred Compensation Plans. Following the date of this Agreement, Honeywell
and AdvanSix shall use commercially reasonable efforts to cooperate in administering the Honeywell Nonqualified Deferred Compensation
Plans for purposes of satisfying any obligations relating to the participation of any AdvanSix Employee or Former AdvanSix Employee,
including by exchanging any necessary participant records and engaging recordkeepers, administrators, providers, insurers and
other third parties.

    	 

    	

    

13

 

ARTICLE
XI

 

VACATION

 

SECTION 11.01. Vacation. Upon
the Distribution, the AdvanSix Group shall assume and be solely responsible for all Liabilities for vacation accruals and benefits
with respect to each AdvanSix Employee; provided, however, that (a) for purposes of determining the number of vacation
days to which such employee shall be entitled following the Distribution, AdvanSix and its Subsidiaries shall assume and honor
all vacation days accrued or earned but not yet taken by such employee, if any, as of the Distribution, and (b) to the extent
such employee is entitled under any applicable Law or any policy of his or her respective employer that is a member of the Honeywell
Group, as the case may be, to be paid for any vacation days accrued or earned but not yet taken by such employee as of the Distribution,
AdvanSix shall assume and be solely responsible for the Liability to pay for such vacation days.

 

ARTICLE
XII

 

LONG-Term
Incentive COMPENSATION AWARDS

 

SECTION 12.01. AdvanSix Long-Term
Incentive Plan. Prior to the Distribution, Honeywell shall cause AdvanSix to adopt a long-term incentive plan or program,
to be effective immediately prior to the Distribution (the “AdvanSix Long-Term Incentive Plan”) and Honeywell
shall approve the AdvanSix Long-Term Incentive Plan as the sole stockholder of AdvanSix.

 

SECTION 12.02. Equity Award Adjustments. Each outstanding equity award granted under the Honeywell Equity Plans held by any individual as of the Distribution shall
be adjusted in accordance with the resolutions adopted by the Management Development and Compensation Committee of Honeywell in
connection with the Distribution. Equity awards that are covered by this Section 12.02 shall not be exercisable and/or
settled during a period beginning on a date prior to the Distribution Date determined by Honeywell in its sole discretion, and
continuing until the adjustments made pursuant to such resolutions are completed, as determined by Honeywell in its sole discretion.

 

SECTION 12.03. Treatment of
Incentive Awards Upon Distribution. Notwithstanding anything in this Agreement, the Honeywell Equity Plans or an award
agreement to the contrary, any awards under the Honeywell Equity Plans held by AdvanSix Employees (including GPUs) shall
remain outstanding through the following applicable date (each, a “Vesting Date”): (a) in the case of
stock options, through March 1, 2017; (b) in the case of restricted stock units, through the end of July 2017; and (c) in the
case of GPUs, to the end of March 2017. Such awards shall otherwise remain subject to the terms of the applicable Honeywell
Equity Plan and the applicable award agreement; provided, however, that service with the AdvanSix Group through
such vesting date shall count as service with the Honeywell Group for purposes of vesting under such

    	 

    	

    

14

 

awards. Any award, or portion of any award,
that does not become vested on or prior to the applicable Vesting Date shall be forfeited.

 

SECTION 12.04. Incentive Award
Reimbursement. Following the Distribution, Honeywell may, from time to time, deliver to AdvanSix a summary (a
“Reimbursement Invoice”) of all Reimbursement Events that have occurred on or after the date of the
previous Reimbursement Invoice or, in the case of the first Reimbursement Invoice delivered to AdvanSix, the Distribution
Date. Such Reimbursement Invoice shall also include an amount equal to the aggregate value of all expenses incurred on or
after the Distribution by the Honeywell Group, as determined by Honeywell in its reasonable discretion and consistent with
past practice, with respect to the Reimbursement Awards identified in such Reimbursement Invoice, and within ten (10) days
following the delivery of such Reimbursement Invoice, AdvanSix shall make a cash payment to Honeywell equal to such aggregate
value.

 

SECTION 12.05. Cooperation. For
so long as any equity award in respect of Honeywell Common Stock is outstanding and held by an AdvanSix Employee or Former AdvanSix
Employee, the Honeywell Group and the AdvanSix Group shall reasonably cooperate in the exchange of information and take any action
necessary to administer such equity awards following the Distribution, including the following: (i) AdvanSix shall notify Honeywell
in writing within five (5) days of any change in employment status (including but not limited to termination of employment), (ii)
the Parties shall exchange any information necessary to satisfy their obligations under Section 12.04, (iii) the Parties
shall take any steps necessary to ensure that the employee-paid portion of any Taxes (including any Employment Taxes) required
to be withheld upon the exercise or vesting of any such equity award is withheld by or paid over to, as applicable, the applicable
Party responsible for remitting such amount to the appropriate Taxing Authority as promptly as reasonably practicable, (iv) AdvanSix
will provide payroll information to Honeywell in respect of AdvanSix Employees and Former AdvanSix Employees, including year-to-date
amounts withheld for Federal Insurance Contribution Act Taxes, Medicare Taxes and supplemental compensation, (v) other than with
respect to the Reimbursement Awards, any U.S. Federal, state and local income Tax deduction arising as a result of the exercise,
vesting or settlement of any equity award held by an AdvanSix Employees or Former AdvanSix Employee adjusted pursuant to Section
12.02 will be claimed by a member of the Honeywell Group; provided, however, that if a deduction claimed by
a member of the Honeywell Group pursuant to this Section 12.05 is disallowed by a Taxing Authority for any reason, a member
of the AdvanSix Group shall amend its Tax Return to claim such deduction and pay to Honeywell an amount equal to the tax benefit
actually realized by the AdvanSix Group resulting from such deduction; provided further that Honeywell, upon the request
of AdvanSix, shall repay any amount paid to Honeywell under the immediately preceding proviso (plus any interest imposed by the
relevant Taxing Authority) in the event AdvanSix is required to surrender such tax benefit and (vi) the Parties will cooperate
following the Distribution, so that the value of any tax benefit actually realized by any member of the Honeywell Group in connection
with the vesting, settlement or exercise of any Reimbursement Award will be transferred to AdvanSix following the Distribution.

    	 

    	

    

15

 

SECTION 12.06. Treatment of Reimbursements.
Any cash payment made by AdvanSix to Honeywell in respect of any award settled in or exercised for Honeywell Common Stock pursuant
to this Article XII shall be treated by Honeywell and AdvanSix for all Tax purposes as purchase price or partial purchase
price for the shares of Honeywell Common Stock equal to the value of any such cash payment, and not as a distribution from AdvanSix
to Honeywell immediately prior to the Distribution or as consideration for any property contributed to AdvanSix in connection
with the transactions contemplated by the Separation Agreement. Any cash payment made by Honeywell to AdvanSix pursuant to this
Article XII shall be treated for all Tax purposes as a contribution from Honeywell to AdvanSix immediately prior to the
Distribution.

 

ARTICLE
XIII

 

COOPERATION;
ACCESS TO INFORMATION; LITIGATION; CONFIDENTIALITY

 

SECTION 13.01. Cooperation. Following
the date of this Agreement, the Parties shall, and shall cause their respective Subsidiaries to, use commercially reasonable efforts
to cooperate with respect to any employee compensation or benefits matters that either Party reasonably determines require the
cooperation of the other Party in order to accomplish the objectives of this Agreement. Without limiting the generality of the
preceding sentence, (a) Honeywell, AdvanSix and their respective Subsidiaries shall cooperate in connection with any audits of
any Benefit Plan with respect to which such Party may have Information, (b) Honeywell, AdvanSix and their respective Subsidiaries
shall cooperate in connection with any audits of their respective payroll services (whether by a Governmental Authority in the
U.S. or otherwise) in connection with the services provided by one Party to the other Party and (c) Honeywell, AdvanSix and their
respective Subsidiaries shall cooperate in good faith in connection with the notification and consultation with labor unions and
other employee representatives of employees of the Honeywell Group and the AdvanSix Group. With respect to each Benefit Plan,
the obligations of the Honeywell Group and the AdvanSix Group to cooperate pursuant to this Section 13.01 or any other
provision of this Agreement shall remain in effect until the later of (i) the date all audits of such Benefit Plan with respect
to which a Party may have Information have been completed, (ii) the date the applicable statute of limitations with respect to
such audits has expired and (ii) the date the Honeywell Group discharges all obligations to AdvanSix Employees, Former AdvanSix
Employees and their respective beneficiaries under such Benefit Plan.

 

SECTION 13.02. Access to Information;
Litigation; Confidentiality. Except as would be inconsistent with Section 13.01 or any other provision of this Agreement
relating to cooperation, Article VII of the Separation Agreement is hereby incorporated into this Agreement mutatis mutandi.

    	 

    	

    

16

 

ARTICLE
XIV

 

TERMINATION

 

SECTION 14.01. Termination. This
Agreement may be terminated by Honeywell at any time, in its sole discretion, prior to the Distribution; provided, however,
that this Agreement shall automatically terminate upon the termination of the Separation Agreement in accordance with its terms.

 

SECTION 14.02. Effect of
Termination. In the event of any termination of this Agreement prior to the Distribution, none of the Parties (or any of
its directors or officers) shall have any Liability or further obligation to any other Party under this Agreement.

 

ARTICLE
XV

 

MISCELLANEOUS

 

SECTION 15.01. Incorporation of Indemnification
Provisions of Separation Agreement. In addition to the specific indemnification provisions in this Agreement, Article VI of
the Separation Agreement is hereby incorporated into this Agreement mutatis mutandi.

 

SECTION 15.02. Benefit Plan
Indemnification. If the Parties determine that AdvanSix is unable to establish any AdvanSix Benefit Plan as of the
Distribution Date that it is required under this Agreement to establish by the Distribution Date, then, to the extent
provided on Schedule 15.02, AdvanSix shall indemnify, defend and hold harmless each of the
Honeywell Indemnitees from and against any and all Liabilities of the Honeywell Indemnitees relating to, arising out of or
resulting from participation by any AdvanSix Employee or Former AdvanSix Employee on or after the Distribution Date in any
such Honeywell Benefit Plan set forth on Schedule 15.02 due to the failure to timely establish such AdvanSix Benefit Plan or
Plans, subject to any other terms and conditions set forth on such Schedule.

 

SECTION 15.03. Further
Assurances. Article X of the Separation Agreement is hereby incorporated into this Agreement mutatis mutandi.

 

SECTION 15.04. Administration. AdvanSix
hereby acknowledges that Honeywell has provided or will provide administration services for certain AdvanSix Benefit Plans and
AdvanSix agrees to assume responsibility for the administration and administration costs of such plans and each other AdvanSix
Benefit Plan. The Parties shall cooperate in good faith to complete such transfer of responsibility on commercially reasonable
terms and conditions effective no later than the Distribution or the applicable Welfare Plan Date or Workers’ Compensation
Plan Date.

 

SECTION 15.05. Third-Party
Beneficiaries. Except as otherwise may be provided in the Separation Agreement with respect to the rights of any Honeywell
Indemnitee or AdvanSix Indemnitee, (a) the provisions of this Agreement are solely for

    	 

    	

    

17

 

the benefit of the Parties
hereto and are not intended to confer upon any Person except the Parties hereto any rights or remedies hereunder and (b) there
are no third-party beneficiaries of this Agreement and this Agreement shall not provide any third person with any remedy,
claim, liability, reimbursement, cause of action or other right in excess of those existing without reference to this Agreement.

 

SECTION 15.06. Employment Tax Reporting
Responsibility. To the extent applicable, the Parties hereby agree to follow the alternate procedure for U.S. Employment Tax
withholding as provided in Section 5 of Rev. Proc. 2004-53, I.R.B. 2004-35. Accordingly, except as otherwise provided in Sections
12.04 or 12.05, the members of the Honeywell Group shall not have any Employment Tax reporting responsibilities, and
the members of the AdvanSix Group shall have full Employment Tax reporting responsibilities, for AdvanSix Employees on and after
the Distribution.

 

SECTION 15.07. Data Privacy. The
Parties agree that any applicable data privacy laws and any other obligations of the AdvanSix Group and the Honeywell Group to
maintain the confidentiality of any Information relating to employees in accordance with applicable Law shall govern the disclosure
of Information relating to employees among the Parties under this Agreement. Honeywell and AdvanSix shall ensure that they each
have in place appropriate technical and organizational security measures to protect the personal data of the AdvanSix Employees
and Former AdvanSix Employees. Additionally, each Party shall sign any documentation as may be required to comply with applicable
data privacy Laws.

 

SECTION 15.08. Section 409A. Honeywell
and AdvanSix shall cooperate in good faith and use reasonable best efforts to ensure that the transactions contemplated by the
Separation Agreement and the Ancillary Agreements, including this Agreement, will not result in adverse tax consequences under
Section 409A of the Code to any AdvanSix Employee or Former AdvanSix Employee (or any of their respective beneficiaries), in respect
of their respective benefits under any Benefit Plan.

 

SECTION 15.09. Confidentiality. (a)
Each of Honeywell and AdvanSix, on behalf of itself and each Person in its respective Group, shall, and shall cause its respective
directors, officers, employees, agents, accountants, counsel and other advisors and representatives to, hold, in strict confidence
and not release or disclose, with at least the same degree of care, but no less than a reasonable degree of care, that it applies
to its own confidential and proprietary Information pursuant to policies in effect as of the Distribution, all Information concerning
the other Group or its business that is either in its possession (including Information in its possession prior to the Distribution)
or furnished by the other Group or its respective directors, officers, employees, agents, accountants, counsel and other advisors
and representatives at any time pursuant to this Agreement and shall not use any such Information other than for such purposes
as shall be expressly permitted hereunder, except, in each case, to the extent that such Information is (i) in the public domain
through no fault of any member of the Honeywell Group or the AdvanSix Group, as applicable, or any of its respective directors,
officers, employees, agents, accountants, counsel and other advisors and representatives, (ii) later lawfully acquired from other
sources by any of Honeywell, AdvanSix or its respective

    	 

    	

    

18

 

Group, employees, directors or agents, accountants,
counsel and other advisors and representatives, as applicable, which sources are not themselves bound by a confidentiality obligation
to the knowledge of any of Honeywell, AdvanSix or Persons in its respective Group, as applicable, regarding such Information (iii)
independently generated without reference to any proprietary or confidential Information of the Honeywell Group or the AdvanSix
Group, as applicable, or (iv) required to be disclosed by applicable Law; provided, however, that the Person required
to disclose such Information gives the applicable Person prompt, and to the extent reasonably practicable, prior notice of such
disclosure and an opportunity to contest such disclosure and shall use commercially reasonable efforts to cooperate, at the expense
of the requesting Person, in seeking any reasonable protective arrangements requested by such Person. In the event that such appropriate
protective order or other remedy is not obtained, the Person that is required to disclose such Information shall furnish, or cause
to be furnished, only that portion of such Information that is legally required to be disclosed and shall take commercially reasonable
steps to ensure that confidential treatment is accorded such Information. Notwithstanding the foregoing, each of Honeywell and
AdvanSix may release or disclose, or permit to be released or disclosed, any such Information concerning the other Group (A) to
their respective directors, officers, employees, agents, accountants, counsel and other advisors and representatives who need
to know such Information (who shall be advised of the obligations hereunder with respect to such Information) and (B) to any nationally
recognized statistical rating agency as it reasonably deems necessary, solely for the purpose of obtaining a rating of securities
upon normal terms and conditions; provided, however, that the Party whose Information is being disclosed or released
to such rating agency is promptly notified thereof.

 

(b) Without limiting the foregoing, when
any Information concerning the other Group or its business is no longer needed for the purposes contemplated by this Agreement,
each of Honeywell and AdvanSix shall, promptly after request of the other Party, either return all Information in a tangible form
(including all copies thereof and all notes, extracts or summaries based thereon) or certify to the other Party, as applicable,
that it has destroyed such Information (and used commercially reasonable efforts to destroy all such Information electronically
preserved or recorded within any computerized data storage device or component (including any hard-drive or database)).

 

SECTION 15.10. Additional Provisions. Sections 12.01 to 12.14 of the Separation Agreement are hereby incorporated into this Agreement mutatis mutandi.

 

[SIGNATURE PAGE TO FOLLOW]

    	 

    	

    

IN WITNESS WHEREOF, the parties have caused
this Agreement to be executed by their duly authorized representatives.

 

	 	HONEYWELL INTERNATIONAL INC.,	 
	 	 	 
	 	 	by	 	 
	 	 	 	/s/Jeffrey
    N. Neuman	 
	 	 	 	Name: 	Jeffrey N. Neuman	 
	 	 	 	Title: 	Vice President, Corporate Secretary and Deputy General Counsel	 
	 	 	 	 	 	 

	 	ADVANSIX INC.,	 
	 	 	by	 	 
	 	 	 	/s/Erin N. Kane	 
	 	 	 	Name: 	Erin N. Kane	 
	 	 	 	Title: 	President and Chief Executive Officer	 

    	 

    	

    

Schedule 15.02

 

1.       The
following components of the Honeywell International Inc. Benefit Plan:

a.       High
Deductible Health Plan

b.       Dental
Plan

c.       Vision
Care Plan

d.       Cafeteria
Plan, FSA Plan and HSA Program (collectively, Flex Plan)

e.       Basic
Life Insurance Plan

f.       Accidental
Death and Dismemberment Insurance Plan

2.       Long
Term Disability Plan for Employees of Honeywell International Inc.

3.       Honeywell
International Inc. Short-Term Disability Plan

4.       Honeywell
International Inc. Employee Assistance Program

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