Document:

EX-10.7

 Exhibit 10.7 

Exclusive Business Cooperation Agreement 

This Exclusive Business Cooperation Agreement (this “Agreement”) is made and entered into by and between the following parties on
December 14, 2020 in Shenzhen, the People’s Republic of China (“China” or the “PRC”). 
  

	Party A:	 Components Zone (ShenZhen) Development Limited.1

  

	Address:	 Room 102E, Floor 1, Science and Technology Building, Doli Industrial Zone, No. 105, Meihua Road, Meifeng
Community, Meilin Street, Futian District, Shenzhen 

  

	Party B:	 Shenzhen Pai Ming Electronics Co., Ltd.2

  

	Address:	 Room 602, 6 / F, Building 2, Doli Industrial Zone, No. 105, Meihua Road, Meifeng Community, Meilin Street,
Futian District, Shenzhen 

  
  

	1 	 For identification purpose only. 

	2 	 For identification purpose only. 

  
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 Each of Party A and Party B shall be hereinafter referred to as a “Party”
individually, and as the “Parties” collectively. 
 Whereas, 
  

	1.	 Party A is a wholly foreign owned enterprise established in China, and has the necessary resources to provide
technical and consulting services; 

  

	2.	 Party B is a company established in China with exclusively domestic capital, mainly engaging in an e-commerce platform for purchase and sale of electronic components. The businesses conducted by Party B currently and at any time during the term of this Agreement are collectively referred to as the “Principal
Business”; 

  

	3.	 Party A is willing to provide Party B with technical support, consulting services and other services on
exclusive basis in relation to the Principal Business during the term of this Agreement, utilizing its advantages in technology, human resources, and information, and Party B is willing to accept such services provided by Party A or Party A’s
designee(s), each on the terms set forth herein. 

 Now, therefore, through mutual discussion, the Parties have reached
the following agreements: 

  
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	1.	 Services Provided by Party A 

 

	 	1.1	 Party B hereby appoints Party A as Party B’s exclusive services provider to provide Party B with
comprehensive technical support, consulting services and other services during the term of this Agreement, in accordance with the terms and conditions of this Agreement, including but not limited to the following: 

 

	 	(1)	 Licensing Party B to use any software legally owned by Party A; 

 

	 	(2)	 Development, maintenance and updating of software involved in Party B’s business; 

 

	 	(3)	 Design, installation, daily management, maintenance and updating of computer network system, hardware equipment
and database; 

  

	 	(4)	 Technical support and training for employees of Party B; 

 

	 	(5)	 Assisting Party B in consultancy, collection and research of technology and market information (excluding such
market research business that foreign-invested enterprises are prohibited from conducting under the PRC law); 

  
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	 	(6)	 Providing business management consulting services to Party B; 

 

	 	(7)	 Providing marketing and promotion services to Party B; 

 

	 	(8)	 Providing customer order management and customer services to Party B; 

 

	 	(9)	 Leasing, assignment or disposal of equipment or properties; and 

 

	 	(10)	 Other services requested by Party B from time to time to the extent permitted under the PRC law.

  
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	 	1.2	 Party B agrees to accept all the services provided by Party A. Party B further agrees that unless with Party
A’s prior written consent, during the term of this Agreement, Party B shall not directly or indirectly accept the same or any similar services provided by any third party and shall not establish similar cooperative relationship with any third
party regarding the matters contemplated by this Agreement. The Parties agree, that Party A may appoint other parties, who may enter into certain agreements described in Section 1.3 hereof with Party B, to provide Party B with the services
under this Agreement. 

  

	 	1.3	 Service Providing Methodology 

 

	 	1.3.1	 Party A and Party B mutually agree that during the term of this Agreement, where necessary, Party B may further
enter into any service agreements with Party A or any other party designated by Party A, which shall provide for specific content, manner, personnel, and fees for the specific services. 

 

	 	1.3.2	 To fulfill this Agreement, Party A and Party B mutually agree that during the term of this Agreement, where
necessary, Party B may enter into equipment or property leases with Party A or any other party designated by Party A which shall permit Party B to use Party A’s relevant equipment or property based on the needs of the business of Party B.

  
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	 	1.3.3	 Party B hereby grants to Party A an irrevocable and exclusive option to purchase from Party B, at Party
A’s sole discretion, any or all of the assets and business of Party B, to the extent permitted under the PRC law, at the lowest purchase price permitted by the PRC law. The Parties shall then enter into a separate assets or business transfer
agreement, specifying the terms and conditions of the transfer of such assets or business. To the extent permitted under applicable PRC laws, Party B shall donate the balance of the purchase price received from Party A, after deducting/withholding
the relevant taxes (if any) pursuant to applicable laws, to Party A or the designee(s) of Party A for free within ten (10) days after Party B receives the purchase price and pays/withholds the relevant taxes (if any). 

 

	 	1.4	 To ensure that Party B meets the requirement of cash flow in daily operation and/or to offset any losses
incurred in the course of its operation, Party A may provide Party B with financial support (only to the extent and in a manner permitted by the PRC law). Party A may provide Party B with financial support by way of bank entrusted loans or loans,
and enter into separate agreements with Party B where necessary. 

  
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	 	1.5	 Party A shall have the right to examine the accounts of Party B periodically and from time to time. Party B
shall keep its accounts accurately in due course, and provide them to Party B upon its request. To the extent permitted by applicable laws, Party B agrees to cooperate with Party A and Party A’s (direct and indirect) shareholder(s) to conduct
audit (including auditing the related party transactions and other audit), deliver the information and materials in relation to the operations, business, clients, finance, staff and other relevant matters of Party B and Party B’s subsidiaries
to Party A, Party A’s shareholder(s) and/or auditors appointed by Party A, and allow Party A’s shareholder(s) to disclose such information and materials to comply with the regulatory requirements for public listing of Party A’s
shareholder(s). The Parties agree, that within the term of this Agreement, Party A is entitled to consolidate the financial results of Party B as if Party B were a wholly owned affiliate of Party A in accordance with the applicable accounting
principles. However, Party A shall not be held legally responsible for Party B’s debt or other obligations and risks. 

  

	 	1.6	 Party A has the right to conduct business activities related to provision of services on behalf of Party B, and
Party B shall offer all necessary support and convenience for Party A to conduct such business activities smoothly, including without limitation, issuing to Party A any power of attorney necessary for the provision of services.

  

	 	1.7	 Upon the request of Party A, Party B shall deliver the licenses and company seals related to Party B’s
daily operation, including the business license, common seal, contract seal, financial seal and the chop of legal representative, to the financial department of Party A for custody. Party B covenants that it will only use such licenses and company
seals with Party A’s consent and in compliance with Party A’s internal authorized guidance. 

  

	 	1.8	 The Parties agree, that the services provided to Party B by Party A hereunder are also applicable to all
subsidiaries controlled by Party B, and Party B shall procure the subsidiaries controlled by it to exercise the rights and perform the obligations in accordance with this Agreement. 

  
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	2.	 Calculation and Payment of the Service Fees 

 

	 	2.1	 The fees payable by Party B to Party A during the term of this Agreement shall be calculated as follows:

  

	 	2.1.1	 Party B shall pay service fees to Party A annually. Under this Agreement, the service fees shall consist of
100% of the total consolidated profit of Party B, after the deduction of any accumulated deficit of Party B and its affiliated entities in respect of the preceding financial year(s), operating costs, expenses, taxes and other statutory contributions
and reasonable operation profit as determined in accordance with the principles of tax law and tax practice in the PRC. 

  

	 	2.1.2	 If Party A transfers technology to Party B or develops software or other technology as entrusted by Party B or
leases equipment or properties to Party B, the technology transfer price, development fees or rent shall be determined by the Parties based on the actual situations. 

  
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	 	2.1.3	 Except the service fees, Party B shall reimburse all reasonable costs, reimbursed payments and out-of-pocket expenses, paid or incurred by Party A in connection with the conduct of its performance and provision of services. 

 

	 	2.1.4	 Each Party shall bear the taxes related to its execution and performance of this Agreement. Upon the request of
Party A, Party B shall endeavor to assist Party A in enjoying the exemption of value-added taxes for all or part of the service fees revenue. 

  

	 	2.1.5	 Party B hereby acknowledges and agrees that without the prior written consent of Party A or its designated
persons, Party B shall not conduct or procure to conduct any operation or transaction which may materially affect the property, business, employment, obligation, right or operation of Party B, and shall not conduct or procure to conduct any
operation or transaction which may materially affect the capacity for performance of obligations of Party B under this Agreement. 

  
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	3.	 Intellectual Property Rights and Confidentiality Clauses 

 

	 	3.1	 Party A shall have exclusive and proprietary ownership, rights and interests in any and all intellectual
properties arising out of or created during the performance of this Agreement, including but not limited to copyrights, patents, patent applications, software, technical secrets, trade secrets and others, and shall be entitled to make use of such
rights for free. 

  

	 	3.2	 To fulfill Party B’s business needs, Party A agrees that part of intellectual properties designated by
Party A may be registered by Party B under the name of Party B. However, upon request of Party A, Party B shall transfer the aforementioned intellectual properties registered under the name of Party B to Party A for free or at the lowest price
permitted by the law, and Party B shall execute all appropriate documents, take all appropriate actions, submit all filings and/or applications, render all appropriate assistance and otherwise conduct whatever is necessary as deemed by Party A at
its sole discretion for the purposes of vesting any ownership, right or interest of any such intellectual property rights in Party A, and/or perfecting the protections for any such intellectual property rights in Party A. Party B unconditionally and
irrevocably authorizes Party A to make use of any intellectual properties registered under the name of Party B for free. 

  
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	 	3.3	 The Parties acknowledge that the existence and the terms of this Agreement and any oral or written information
exchanged between the Parties in connection with the preparation and performance of this Agreement are regarded as confidential information. Each Party shall maintain confidentiality of all such confidential information, and without obtaining the
written consent of the other Party, it shall not disclose any relevant confidential information to any third party, except for the information that: (a) is or will be in the public domain (other than through the receiving Party’s
unauthorized disclosure); (b) is under the obligation to be disclosed pursuant to the applicable laws or regulations, rules of any stock exchange, or orders of the court or other government authorities; or (c) is required to be disclosed by any
Party to its shareholders, directors, employees, legal counsels or financial advisors regarding the transaction contemplated hereunder, provided that such shareholders, directors, employees, legal counsels or financial advisors shall be bound by the
confidentiality obligations similar to those set forth in this Section. Disclosure of any confidential information by the shareholders, director, employees of or agencies engaged by any Party shall be deemed disclosure of such confidential
information by such Party and such Party shall be held liable for breach of this Agreement. 

  

	4.	 Representations, Warranties and Covenants 

 

	 	4.1	 Party A hereby represents, warrants and covenants as follows: 

 

	 	4.1.1	 Party A is a limited liability company legally established and validly existing in accordance with the PRC law;
Party A or the service providers designated by Party A will obtain all government permits and licenses for providing the services under this Agreement before providing such services. 

  
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	 	4.1.2	 Party A has taken all necessary corporate actions, obtained all necessary authorizations as well as all
consents and approvals from third parties and government authorities (if required) for the execution, delivery and performance of this Agreement. Party A’s execution, delivery and performance of this Agreement do not violate any explicit
requirements under any law or regulation. 

  

	 	4.1.3	 This Agreement constitutes Party A’s legal, valid and binding obligations, enforceable against it in
accordance with its terms. 

  

	 	4.2	 Party B hereby represents, warrants and covenants as follows: 

 

	 	4.2.1	 Party B is a company legally established and validly existing in accordance with the PRC law and has obtained
and will maintain all permits and licenses for engaging in the Principal Business in a timely manner. 

  

	 	4.2.2	 Party B has taken all necessary corporate actions, obtained all necessary authorizations as well as all
consents and approvals from third parties and government authorities (if required) for the execution, delivery and performance of this Agreement. 

  
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 Party B’s execution, delivery and performance of this Agreement do not violate any
explicit requirements under any law or regulation. 
  

	 	4.2.3	 This Agreement constitutes Party B’s legal, valid and binding obligations, and shall be enforceable
against it in accordance with its terms. 

  

	 	4.2.4	 There are no pending or, to the knowledge of Party B, threatened litigation, arbitration or other judicial or
administrative proceedings that would affect Party B’s performance of its obligations under this Agreement. 

  

	 	4.2.5	 Party B shall pay the full amount of the service fees to Party A timely in accordance with this Agreement.

  

	5.	 Effectiveness and Term of Agreement 

 

	 	5.1	 This Agreement shall become effective upon execution by the Parties. Unless terminated in accordance with the
provisions of this Agreement or terminated in writing by Party A, this Agreement shall remain effective. 

  
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	 	5.2	 During the term of this Agreement, each Party shall renew its operation term prior to the expiration thereof
and exercise best endeavors to obtain the approval of relevant competent authorities so as to enable this Agreement to remain effective. This Agreement shall be terminated upon the expiration of the operation term of a Party if the application for
renewal of its operation term is not approved or consented by relevant government authorities. 

  

	 	5.3	 The rights and obligations of the Parties under Sections 3, 6, 7 and this Section 5.3 shall survive the
termination of this Agreement. 

  

	6.	 Governing Law and Resolution of Disputes 

 

	 	6.1	 The execution, effectiveness, construction, performance, amendment and termination of this Agreement and the
resolution of disputes hereunder shall be governed by the laws of the PRC. 

  

	 	6.2	 In the event of any dispute with respect to the construction and performance of this Agreement, the Parties
shall first resolve the dispute through friendly negotiations. In the event the Parties fail to reach an agreement on the dispute through negotiations, either Party may submit the relevant dispute to the Shenzhen Court of International Arbitration
(Shenzhen Arbitration Commission), in accordance with its arbitration rules and procedures in effect at the time. The arbitration shall be conducted in Shenzhen. The arbitration award shall be final and binding on both Parties.

  
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	 	6.3	 To the extent permitted by PRC laws and where appropriate, the arbitration tribunal may award any remedies,
including preliminary and permanent injunctive relief (such as injunction against carrying out business activities, or mandating the transfer of assets), specific performance of contractual obligations, remedies concerning the equity interest or
assets of Party B and awards ordering the winding up of Party B. To the extent permitted by PRC laws, when awaiting the formation of the arbitration tribunal or otherwise under appropriate conditions, either Party may seek and the Court with
competent authority shall have power to grant, preliminary injunctive relief or other interlocutory remedies from a court with competent jurisdiction to facilitate the arbitration. Without violating the applicable governing laws, the Parties agree
that the courts of Hong Kong, Cayman Islands, China, United States of America and the place where the principal assets of Party B are located shall all be deemed to have competent jurisdiction. 

 

	 	6.4	 Upon the occurrence of any disputes arising from the construction and performance of this Agreement or during
the pending arbitration of any dispute, except for the matters under dispute, the Parties shall continue to exercise their respective rights under this Agreement and perform their respective obligations under this Agreement. 

  
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	7.	 Breach of Agreement and Indemnification 

 

	 	7.1	 If Party B conducts any material breach of any term of this Agreement, Party A shall have right to terminate
this Agreement and/or require Party B to indemnify all damages; this Section 7.1 shall not prejudice any other rights of Party A herein. 

  

	 	7.2	 Unless otherwise required by applicable laws, Party B shall not have any right to terminate this Agreement
unilaterally in any event. 

  

	 	7.3	 Party B shall indemnify and hold Party A harmless from any losses, damages, obligations or expenses caused by
any lawsuit, claims or other demands against Party A arising from or caused by the services provided by Party A to Party B pursuant to this Agreement, except where such losses, damages, obligations or expenses arise from the gross negligence or
willful misconduct of Party A. 

  
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	8.	 Force Majeure 

 

	 	8.1	 In the case of any force majeure events (“Force Majeure”) such as earthquake, typhoon, flood, fire,
flu, war, strikes or any other events that cannot be predicted and are unpreventable and unavoidable by the affected Party, which directly or indirectly causes the failure of either Party to perform or completely perform this Agreement, then the
Party affected by such Force Majeure shall give the other Party written notices without any delay, and shall provide details of such event within fifteen (15) days after sending out such notice, explaining the reasons for such failure of,
partial or delay of performance. 

  

	 	8.2	 If such Party claiming Force Majeure fails to notify the other Party and furnish it with proof pursuant to the
above provision, such Party shall not be excused from the non-performance of its obligations hereunder. The Party so affected by the event of Force Majeure shall use reasonable efforts to minimize the
consequences of such Force Majeure and to promptly resume performance hereunder whenever the causes of such excuse are cured. Should the Party so affected by the event of Force Majeure fail to resume performance hereunder when the causes of such
excuse are cured, such Party shall be liable to the other Party. 

  

	 	8.3	 In the event of Force Majeure, the Parties shall immediately consult with each other to find an equitable
solution and shall use all reasonable endeavours to minimize the consequences of such Force Majeure. 

  
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	9.	 Notices 

  

	 	9.1	 All notices and other communications required or permitted to be given pursuant to this Agreement shall be
delivered personally or sent by registered mail, postage prepaid, by a commercial courier service or by facsimile transmission to the address of such Party set forth below. A confirmation copy of each notice shall also be sent by email. The dates on
which notices shall be deemed to have been effectively given shall be determined as follows: 

  

	 	9.1.1	 Notices given by personal delivery, by courier service or by registered mail, postage prepaid, shall be deemed
effectively given on the date of receipt or refusal at the address specified for notices. 

  

	 	9.1.2	 Notices given by facsimile transmission shall be deemed effectively given on the date of successful
transmission (as evidenced by an automatically generated confirmation of transmission). 

  

	 	9.2	 For the purpose of notices, the addresses of the Parties are as follows: 

Party A:         Components Zone (ShenZhen) Development Limited. 

Address:        Room 102E, Floor 1, Science and Technology Building, Doli Industrial 

Zone, No. 105, Meihua Road, Meifeng Community, Meilin Street, Futian 

District, Shenzhen 

  
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	 Attn:
	  	Duanrong Liu
		
	 Fax:
	  	0755-88600876
		
	 Email:
	  	dliu@iczoom.com
		
	 Party B:
	  	Shenzhen Pai Ming Electronics Co., Ltd.

 Address:          Room 602, 6 / F, Building 2, Doli Industrial Zone, No.

 105, Meihua Road, Meifeng Community, Meilin Street, 

Futian District, Shenzhen 
  

			
	 Attn:
	  	Liu Jun
		
	 Fax:
	  	
		
	 Email:
	  	junliu@hjetscm.com

  

	 	9.3	 Any Party may at any time change its address for notices by a notice delivered to the other Party in accordance
with the terms hereof. 

  

	10.	 Assignment 

  
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	 	10.1	 Without Party A’s prior written consent, Party B shall not assign its rights and obligations under this
Agreement to any third party. 

  

	 	10.2	 Party B agrees that Party A may assign its obligations and rights under this Agreement to any third party and
in case of such assignment, Party A is only required to give written notice to Party B and does not need any consent from Party B for such assignment. 

  

	11.	 Severability 

In the event that one or several of the provisions of this Agreement are found to be invalid, illegal or unenforceable in any aspect in
accordance with any laws or regulations, the validity, legality or enforceability of the remaining provisions of this Agreement shall not be affected or compromised in any aspect. The Parties shall negotiate in good faith to replace such invalid,
illegal or unenforceable provisions with effective provisions that accomplish to the greatest extent permitted by law and the intentions of the Parties, and the economic effect of such effective provisions shall be as close as possible to the
economic effect of those invalid, illegal or unenforceable provisions. 

  
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	12.	 Amendments and Supplements 

Any amendments and supplements to this Agreement shall be in writing. The amendment agreements and supplementary agreements that have been
signed by the Parties and relate to this Agreement shall be an integral part of this Agreement and shall have the same legal validity as this Agreement. 
  

	13.	 Entire Agreement 

Except for the amendments, supplements or changes in writing executed after the execution of this Agreement, this Agreement shall constitute
the entire agreement reached by and among the Parties hereto with respect to the subject matter hereof, and shall supersede all prior oral and written consultations, representations and contracts reached with respect to the subject matter of this
Agreement. 
  

	14.	 Waivers 

Any Party may waive the terms and conditions of this Agreement, provided that such a waiver must be provided in writing and shall require the
signatures of the Parties. No waiver by any Party in certain circumstances with respect to a breach by other Parties shall operate as a waiver by such a Party with respect to any similar breach in other circumstances. 

  
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	15.	 Language and Counterparts 

This Agreement is written in both Chinese and English language in two copies, each Party having one copy. In case there is any conflict between
the Chinese version and the English version, the Chinese version shall prevail. 

  
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 IN WITNESS WHEREOF, the Parties have caused their authorized representatives to execute this Exclusive
Business Cooperation Agreement as of the date first above written. 
 Party A: Components Zone (ShenZhen) Development Limited. (seal) 

 

			
	By:	 	 /s/ Duanrong LIU

	Name:	 	Duanrong LIU
	Title:	 	Legal Representative

 IN WITNESS WHEREOF, the Parties have caused their authorized representatives to execute this Exclusive
Business Cooperation Agreement as of the date first above written. 
 Party B: Shenzhen Pai Ming Electronics Co., Ltd. (seal) 

 

			
	By:	 	 /s/ Jun LIU

	Name:	 	Jun LIU
	Title:	 	Legal RepresentativeEX-10.1

 Exhibit 10.1 

Dear Nick: 
 This letter confirms Univar Solutions Inc.’s
offer of an assignment (“Assignment”) in the position of Senior Vice President, President Specialty Chemicals & Ingredients and Regional President Europe, Middle East and Africa & Asia Pacific, based in Texas (Woodlands),
United States (“Host Country”). The effective date of this assignment is October 1, 2021, but contingent upon you receiving your work and residency permits (if required) and accepting the terms and conditions outlined in this letter.
In this position, you will report to David Jukes, President & CEO. The intended length of the terms proposed in conjunction with this assignment will not exceed twelve (12) months unless express written authorization to extend the
Assignment is approved by the CEO and General Counsel of Univar Solutions. You will remain an employee of Univar Solutions, Ltd. (f/k/a Univar Europe, Ltd.) (“the Company”) during your assignment, however, you will provide services to
Univar Solutions Inc. and its subsidiaries. Your home country is England (“Home Country”). 
 “Univar” and “Univar Solutions”
as used in this letter, refers to Univar Solutions Inc. and its wholly owned subsidiaries. 
 COMPENSATION 

Your annual base salary will be £382,117 (gross). You will remain on the Company’s payroll and continue to participate in the Company’s base
compensation plan. The details of your short-term and long-term incentive plan participation are unchanged from the letter from David Jukes dated February 25, 2021. 

RELOCATION BENEFITS 
 You will be eligible for relocation
benefits during the duration of your Assignment as outlined below, provided that you are performing services in accordance with this Assignment or as otherwise directed by the Company on the date the relocation benefit or payment is scheduled to be
made. Upon receipt of your signed acceptance of this letter, Cartus Corporation, Univar’s designated relocation company, will contact you to begin administering the relocation program. Amounts included below may constitute taxable income to
you, but generally will not be considered as “compensation” for purposes of other company benefit plans. 
  

	 	A.	 Relocation Travel Expenses: The reasonable, actual travel expenses (including airfare and ground
transportation) for you and your spouse to travel to and from the Host Country at the start and end of your Assignment will be paid for by the Company. If needed, upon your arrival in the Host Country, the Company will pay up to 30 days of temporary
housing as you transition to your more permanent housing. 

  

	 	B.	 Work Permits/Visas: If legal work authorization is required, it must be granted before you depart for
the Host Country. Univar will provide assistance and reimburse the costs of obtaining immigration documents required for you to work and reside in the Host Country, where applicable. 

 

	 	C.	 Present Housing Arrangements: Given the intended duration of the Assignment, the Company strongly
recommends that you retain your present home in your Home Country. Should you choose to sell your home, all costs and financial consequences associated with the sale will be your personal responsibility. 

 

	 	D.	 Shipment and Storage of Household Goods/Personal Effects: The Company will cover the cost of shipping
all household goods to and from the Host Country. Alternatively, if you prefer, the Company will cover the cost of an air shipment (each way) of up to 500 lbs. and will provide you with a furniture allowance of $18,000. 

 

	 	E.	 Relocation Allowance: In the month in which your relocation begins, the Company will pay you a lump sum
relocation allowance equal to $15,000, which you can use as you see fit but is intended to cover 

  
 Univar
Solutions  |  3075 Highland Parkway, Suite 200  |  Downers Grove, IL 60515  |  USA 

 Nick Powell 

September 13, 2021 
 page 2 

 

	 	
miscellaneous expenses associated with setting up and establishing your new home and day-to-day living in the Host
Country. At the end of your relocation, the company will likewise pay you an additional lump sum allowance equal to $15,000, which is intended to cover miscellaneous expenses associated with returning to your Home Country. 

 

	 	F.	 Household Pets: The Company will reimburse expenses incurred in relocating any pets from your Home
Country to the Host Country, in an amount not to exceed $15,000. 

  

	 	G.	 Housing Allowance: The Company will provide and pay for the rental of an apartment in an area within
reasonable commuting distance to the Woodlands office, not to exceed $6,000/per month (including utilities). If you elect housing which exceeds the pre-determined housing allowance you agree to personally pay
the difference. If there is a security deposit required, the Company will pay any such deposit on your behalf. Following the end of your Assignment, the security deposit must be returned to the Company and any loss or deductions from the deposit
will be your responsibility. 

  

	 	H.	 Home Leave: To cover and/or defray the costs associated with you and your spouse making home visits, or
your children visiting you in the Host Country, the Company will provide you with a home leave allowance equal to $6,000/per year. 

  

	 	I.	 Gross-Up: All payments, allowances and benefits in this Section
maybe be subject to withholdings and/or deductions as are required by tax law in both Home and Host Countries. All such payments, allowances and benefits will be grossed-up by Univar to cover the associated
tax liability on your behalf. 

 TAXES (TAX EQUALIZATION AND TAX SUPPORT) 

Generally, your tax situation and calculations become more complex when you live abroad. Univar Solutions has arranged for tax advisors from Deloitte Tax LLP
to provide tax consultation and to prepare your Home Country and Host Country income tax returns as necessary during your assignment (and any subsequent tax years where a lingering Host-Country tax obligation exists). Univar Solutions will provide
the assistance of appropriate resources for consultation and preparation of any income tax returns required by the Home and/or Host Country tax authorities. Deloitte Tax LLP services are limited to tax advice directly related to your Assignment and
do not extend to personal tax advice or financial planning. 
 While on assignment, you will be tax equalized to your Home Country. The objective of the tax
equalization policy is to ensure that your tax burden while on assignment will be approximately the same as the tax you would have incurred had you remained in your Home Country. This includes all Federal income and social taxes, as well as state,
provincial, cantonal, local taxes, etc., if applicable. Remittance of actual tax amounts to the Home and/or Host Country tax authorities will be coordinated by the Company and Deloitte Tax LLP. A reconciliation will be prepared following the close
of the applicable Home and Host Country tax years in order to reconcile your final tax position per the Univar Solutions Global Tax Equalization Policy. 

An estimated hypothetical tax withholding amount will be calculated at the beginning of your assignment. The hypothetical tax withholding will be updated for
any changes in, for example, base salary, family size, or tax rulings. The estimated hypothetical tax withholding is computed on your stay-at-home income. This includes
your base salary and other periodic payments (such as bonus or equity income) and does not include assignment-related allowances. 
 Under the tax
equalization policy, hypothetical tax will continue to be applied to any income sourced to the assignment period regardless of when the income is realized. For example, if you receive a bonus after repatriating to your Home Country, the
assignment-source portion of the bonus will be subject to the tax equalization policy. If stock options are granted pre-assignment, vested while on assignment, and exercised post-assignment, the
assignment-source portion of the total exercise is subject to the tax equalization policy. You will be required to meet with a tax consultant from Deloitte prior to or promptly following your departure. 

 Nick Powell 

September 13, 2021 
 page 3 

 

 If your employment terminates for any reason during your Assignment, tax equalization will end as of the date
of termination and the theoretical Home Country tax will be calculated as if you repatriated on the date of termination. 
 PROCESSING AND USE OF
EMPLOYEE INFORMATION 
 To manage the personal and employment administration aspects of your Assignment, the Company will need to process personal data
relating to you. Therefore, the Company informs you that your personal data including sensitive data if collected by the Company (the “Data”), which you provide to the Company or that it otherwise acquired in the course of ordinary
activity will be processed for correct execution, management and performance of this Agreement in force between you and the Company. The Data might be communicated, in connection with the above-mentioned purposes, to the Company, its subsidiaries,
affiliates, parent, and/or to third party service providers, which provide assistance and consultancy or other services to the Company, with particular reference, but without limitation, to accounting, administrative, legal, tax and financial
issues. Such data processing will be performed by means of either manual, electronic or network instruments, or in any other manner that can ensure a safe processing and avoid any unauthorized access. By executing this Agreement, you expressly
authorize the transfer of your Data to the Company, its subsidiaries, affiliates, parent, and/or third parties indicated above for the purposes listed in this Section. The Data will be kept secure and confidential in accordance with Company policy
and national legislation. The Company will regularly update your Data with your assistance and at your request. You will retain the right of access to your Data and the right to have incorrect Data corrected. 

CODE OF CONDUCT AND COMPLIANCE WITH LAWS 
 You agree that
you are bound by the provisions of Univar Solutions Inc. Code of Conduct (“Code of Conduct”) and other rules, regulations and policies, as the Code of Conduct, rules, regulations and policies may be amended from time to time. You also
agree to perform all aspects of your job in accordance with all applicable laws, both Home and Host Country, to strictly follow all workplace safety rules, to protect the property of the Company, to maintain the highest standards of personal and
professional ethics, to actively participate in training arranged by the Company, and to continue to develop and improve your professional skills. 

TERMINATION 
 If the Company terminates your Assignment
while you are abroad, you will be repatriated to your Home Country. If you are living in Company-paid leased housing, you agree to vacate the housing within 60 days of being notified of the Assignment’s termination. Any termination of your
employment is subject to the terms of your CIC Agreement (see below). 
 SEVERANCE AND CHANGE IN CONTROL AGREEMENT 

This Letter Agreement does not constitute a contract or promise of employment for any specific period or duration. The terms and conditions of your Severance
and Change in Control Agreement, dated November 6, 2018, as amended on February 21, 2019 (“CIC Agreement”) shall remain in full force and effect. 

SEVERABILITY AND GOVERNING LAWS 
 In the event any
provision of this Letter Agreement is deemed unenforceable, you agree that a court of competent jurisdiction shall have jurisdiction to reform such provision to the extent necessary to cause it to be enforceable to the maximum extent permitted by
law. The provisions in this Letter Agreement are severable, and if any provision is determined to be prohibited or unenforceable in any jurisdiction, the remaining provisions shall nevertheless be binding and enforceable. The parties agree that the
laws of Illinois shall apply to this Letter Agreement, without respect to its rules concerning conflict of laws. By signing this Letter Agreement, you consent to the exclusive jurisdiction of the U.S. Federal District Court in Chicago, Illinois, in
connection with the resolution of any disputes related to your employment, this Letter Agreement, or your Assignment. 

 Nick Powell 

September 13, 2021 
 page 4 

 

 AMENDMENTS 

Any modifications to the terms of this Letter Agreement must be memorialized in writing and signed by both you and the Company. 

ENTIRE AGREEMENT 
 You acknowledge that this Letter
Agreement is supplemental to, and does not supersede, any non-solicitation, non-compete, non-disclosure, confidentiality or other
agreement that you may have signed while employed with the Company, its parent Univar Solutions Inc., and their affiliates and subsidiaries. 
 PARAGRAPH
HEADINGS 
 The paragraph headings in this Letter Agreement are for convenience of reference only and shall not be deemed to alter or affect the meaning
or interpretation of any provisions hereof. 
 Sincerely, 

/s/ David C. Jukes 
 David C. Jukes 

President & Chief Executive Officer 
 ACCEPTED AND
AGREED: 
 /s/ Nicholas Powell 
 Dated: September 15, 2021

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