Document:

Document

Employee Restricted Stock Unit Agreement
This Employee Restricted Stock Unit Agreement (the “Agreement”), by and between Univar Solutions Inc., a Delaware corporation (the “Company”), and the Employee whose name is set forth on Exhibit A hereto (the “Employee”), is being entered into pursuant to the Univar Solutions Inc. 2017 Omnibus Equity Incentive Plan (as the same may be amended, modified or supplemented from time to time, the “Plan”) and is dated as of the Grant Date set forth on Exhibit A hereto (the “Grant Date”).  Capitalized terms that are used but not defined herein shall have the respective meanings given to them in the Plan.
The Company and the Employee hereby agree as follows:
Section 1.Grant of Restricted Stock Units.  The Company hereby evidences and confirms its grant to the Employee, effective as of the Grant Date, of the number of Restricted Stock Units set forth on Exhibit A hereto.  This Agreement is entered into pursuant to, and the Restricted Stock Units granted hereunder are subject to, the terms and conditions of the Plan, which are incorporated by reference and made part of the Agreement.  If there is any inconsistency between any provision of this Agreement and any express term of the Plan, the express term of the Plan shall govern.  
Section 2.Vesting of Restricted Stock Units.  
(a)Vesting.  Except as otherwise provided in this Section 2, the Restricted Stock Units shall become vested, if at all, in the shares and on the vesting date(s) set forth on Exhibit A hereto (each, a “Vesting Date”), subject to the continued employment of the Employee by the Company or any Subsidiary thereof through such date.  Vested Restricted Stock Units shall be settled as provided in Section 3 of this Agreement.
(b)Effect of Termination of Employment.  
(i)     If the Employee’s employment is terminated by reason of the Employee’s death or Disability (such termination, a “Special Termination”), all outstanding unvested Restricted Stock Units shall vest as of the date of such Special Termination. Vested Restricted Stock Units shall be settled as provided in Section 3 of this Agreement.
(ii)     If the Employee’s employment is terminated by reason of the Employee’s Retirement, (x) if such Retirement occurs prior to the first Vesting Date, then any outstanding unvested Restricted Stock Units subject to vesting on the first Vesting Date shall continue to vest in accordance with Section 2(a) as if the Employee’s employment had not terminated, and all other outstanding unvested Restricted Stock Units shall be forfeited and canceled as of the effective date of such Retirement, and 
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(y) if such termination occurs on or after the first Vesting Date, then all outstanding unvested Restricted Stock Units shall continue to vest in accordance with Section 2(a) as if the Employee’s employment had not terminated.  For purposes of this Agreement, “Retirement” means a termination of employment for any reason other than Cause or a Special Termination at age 60 or older, upon attainment of a minimum of 65 total age plus service points.  Vested Restricted Stock Units shall be settled as provided in Section 3 of this Agreement.
(iii)     Any Other Reason.  Upon termination of the Employee’s employment for any reason other than a Special Termination or Retirement (whether initiated by the Company or by the Employee), any unvested Restricted Stock Units shall be forfeited and canceled effective as of the date of such termination.
(c)Effect of a Change in Control.  In the event of a Change in Control, the treatment of any unvested Restricted Stock Units shall be governed by Article XIV of the Plan.  For avoidance of doubt, any accelerated vesting of Restricted Stock Units that are subject to Section 409A of the Code shall not accelerate the Settlement Date thereof unless permitted by Section 409A of the Code.
(d)Discretionary Acceleration.  Notwithstanding anything contained in this Agreement to the contrary, the Administrator, in its sole discretion, may accelerate the vesting with respect to any Restricted Stock Units under this Agreement, at such times and upon such terms and conditions as the Administrator shall determine; provided, that, the acceleration of vesting of Restricted Stock Units that are subject to Section 409A of the Code shall not accelerate the Settlement Date thereof unless permitted by Section 409A of the Code.
(e)No Other Accelerated Vesting.  The vesting and settlement provisions set forth in this Section 2, or in Section 3, or expressly set forth in the Plan, shall be the exclusive vesting and exercisability provisions applicable to the Restricted Stock Units and shall supersede any other provisions relating to vesting and exercisability, unless such other such provisions unambiguously and expressly references, in writing, the Plan by name and this Agreement by name and date.
Section 3.Settlement of Restricted Stock Units.  
(a)Timing of Settlement.  Subject to Section 7(a), any outstanding Restricted Stock Units that became vested on a Vesting Date shall be settled into an equal number of shares of Company Common Stock on a date selected by the Company that is within 30 days following such Vesting Date (each such date, a “Settlement Date”).  
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(b)Mechanics of Settlement.  On each Settlement Date, the Company shall electronically issue to the Employee one whole share of Company Common Stock for each Restricted Stock Unit that then became vested (except as provided in Section 7(a)), and, upon such issuance, the Employee’s rights in respect of such Restricted Stock Unit shall be extinguished.  On or before any Settlement Date, at the Company’s request, the Company and the Employee shall enter into a Subscription Agreement that establishes the rights and obligations of the Company and the Employee relating to the shares of Company Common Stock issued in respect of the Restricted Stock Units, in the form then customarily used by the Company under the Plan for such purpose.  In the event that there are any fractional Restricted Stock Units that became vested on such date, such fractional Restricted Stock Units shall be settled through a cash payment equal to the portion of Restricted Stock Unit multiplied by the Fair Market Value of the Company Common Stock on such Settlement Date.  No fractional shares of Company Common Stock shall be issued.  
Section 4.Securities Law Compliance.  Notwithstanding any other provision of this Agreement, the Employee may not sell the shares of Company Common Stock acquired upon settlement of the Restricted Stock Units unless such shares are registered under the Securities Act of 1933, as amended (the “Securities Act”), or, if such shares are not then so registered, such sale would be exempt from the registration requirements of the Securities Act.  The sale of such shares must also comply with other applicable laws and regulations governing the Company Common Stock, and the Employee may not sell the shares of Company Common Stock if the Company determines that such sale would not be in material compliance with such laws and regulations.
Section 5.Restriction on Transfer; Non-Transferability of Restricted Stock Units.  The Restricted Stock Units are not assignable or transferable, in whole or in part, and they may not, directly or indirectly, be offered, transferred, sold, pledged, assigned, alienated, hypothecated or otherwise disposed of or encumbered (including, but not limited to, by gift, operation of law or otherwise) other than to a trust for the benefit of the Employee or by will or by the laws of descent and distribution to the estate of the Employee upon the Employee’s death.  Any purported transfer in violation of this Section 5 shall be void ab initio.
Section 6.Restrictive Covenants. In consideration of the receipt of the Restricted Stock Units granted pursuant to this Agreement, the Employee agrees to be bound by the covenants set forth in Exhibit B to this Agreement, which are incorporated by reference and made part of the Agreement.
Section 7.Miscellaneous.
(a)Tax Matters. 
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(i)     Tax Withholding.  The Company or one of the Subsidiaries shall require the Employee to remit to the Company an amount in cash sufficient to satisfy any applicable U.S. federal, state and local and non-U.S. tax withholding obligations that may arise in connection with the vesting of the Restricted Stock Units and the related issuance of shares of Company Common Stock.  Notwithstanding the preceding sentence, if the Employee elects not to remit cash in respect of such obligations, the Company shall retain a number of shares issued in respect of the Restricted Stock Units then vesting that have an aggregate Fair Market Value as of the Settlement Date equal to the amount of such taxes required to be withheld (and the Employee shall thereupon be deemed to have satisfied his or her obligations under this Section 7(a)); provided that the number of such shares retained shall not be in excess of the minimum amount required to satisfy the statutory withholding tax obligations (it being understood that the value of any fractional share of Company Common Stock shall be paid in cash).  The number of shares of Company Common Stock to be issued in respect of Restricted Stock Units shall thereupon be reduced by the number of shares of Company Common Stock so retained.  The method of withholding set forth in the immediately preceding sentence shall not be available if withholding in this manner would violate any (1) law or regulation or (2) financing instrument of the Company or any of the Subsidiaries.
(ii)     Compliance with Section 409A of the Code. If the Employee is not eligible for Retirement during the vesting period applicable to the Restricted Stock Units, the Restricted Stock Units are intended to be exempt from Section 409A of the Code. If the Employee is eligible for Retirement during the vesting period applicable to the Restricted Stock Units such that some or all of the Restricted Stock Units are subject to Section 409A of the Code, this Agreement and the Restricted Stock Units shall be administered and interpreted in compliance with Section 409A of the Code to the extent applicable. Notwithstanding the foregoing, if the Company determines that the Restricted Stock Units may not either be exempt from or compliant with Section 409A of the Code, the Company may adopt such amendments or other policies and procedures (including amendments, policies and procedures with retroactive effect), or take any other actions, that the Company determines are necessary or appropriate, as applicable, to (x) exempt the Restricted Stock Units from Section 409A of the Code, or (y) comply with the requirements of Section 409A of the Code; provided, however, that there is no obligation on the part of the Company to adopt any such amendment, policy or procedure or take any such other action. If the Employee is a “specified employee” as defined in Section 409A of the Code as of the 
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Employee’s separation from service, to the extent any Restricted Stock Units are subject to Section 409A of the Code, then to the extent required by Section 409A of the Code, no payments due under this Agreement may be made until the earlier of: (A) the first day of the seventh month following the Employee’s separation from service, or (B) the Employee’s date of death.  If this Agreement fails to comply with the requirements of Section 409A of the Code, neither the Company nor any of its Affiliates shall have any liability for any tax, penalty or interest imposed on the Employee by Section 409A of the Code, and the Employee shall have no recourse against the Company or any of its Affiliates for payment of any such tax, penalty or interest imposed by Section 409A of the Code.
(b)Dividend Equivalents.  Unless otherwise determined by the Administrator, in the event that the Company pays any ordinary dividend in cash on a share of Company Common Stock following the Grant Date and prior to an applicable Settlement Date, there shall be credited to the account of the Employee in respect of each outstanding Restricted Stock Unit an amount equal to the amount of such dividend.  The amount so credited shall be deferred (without interest, unless the Administrator determines otherwise) until the settlement of such related Restricted Stock Unit and then paid in cash but shall be forfeited upon the forfeiture of such related Restricted Stock Unit.  
(c)Authorization to Share Personal Data.  The Employee authorizes the Company or any Affiliate of the Company that has or lawfully obtains personal data relating to the Employee to divulge or transfer such personal data to the Company or to a third party, in each case in any jurisdiction, if and to the extent reasonably appropriate in connection with this Agreement or the administration of the Plan.
(d)No Rights as Stockholder; No Voting Rights.  Except as provided in Section 7(b), the Employee shall have no rights as a stockholder of the Company with respect to any shares of Company Common Stock covered by the Restricted Stock Units prior to the issuance of such shares of Company Common Stock.
(e)No Right to Awards.  The Employee acknowledges and agrees that the grant of any Restricted Stock Units (i) is being made on an exceptional basis and is not intended to be renewed or repeated, (ii) is entirely voluntary on the part of the Company and the Subsidiaries and (iii) should not be construed as creating any obligation on the part of the Company or any of the Subsidiaries to offer any Restricted Stock Units or other Awards in the future.
(f)No Right to Continued Employment. Nothing in this Agreement shall be deemed to confer on the Employee any right to continue in the employ of the Company or any Subsidiary, or to interfere with or limit in any way the right of the Company or any Subsidiary to terminate such employment at any time.
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(g)Interpretation.  The Administrator shall have full power and discretion to construe and interpret the Plan (and any rules and regulations issued thereunder) and this Award.  Any determination or interpretation by the Administrator under or pursuant to the Plan or this Award shall be final and binding and conclusive on all persons affected hereby.
(h)Forfeiture of Awards.  The Restricted Stock Units granted hereunder (and gains earned or accrued in connection therewith) shall be subject to such generally applicable policies as to forfeiture and recoupment (including, without limitation, upon the occurrence of material financial or accounting errors, financial or other misconduct or Competitive Activity) as may be adopted by the Administrator or the Board from time to time and communicated to the Employee or as required by applicable law, and are otherwise subject to forfeiture or disgorgement of profits as provided by the Plan.
(i)Consent to Electronic Delivery.  By entering into this Agreement and accepting the Restricted Stock Units evidenced hereby, the Employee hereby consents to the delivery of information (including, without limitation, information required to be delivered to the Employee pursuant to applicable securities laws) regarding the Company and the Subsidiaries, the Plan, this Agreement and the Restricted Stock Units via Company website or other electronic delivery.
(j)Binding Effect; Benefits.  This Agreement (including Exhibit B hereto) shall be binding upon and inure to the benefit of the parties to this Agreement and their respective successors and assigns.  Nothing in this Agreement, express or implied, is intended or shall be construed to give any person other than the parties to this Agreement or their respective successors or assigns any legal or equitable right, remedy or claim under or in respect of any agreement or any provision contained herein.
(k)Waiver; Amendment.
(i)     Waiver.  Any party hereto or beneficiary hereof may by written notice to the other parties (A) extend the time for the performance of any of the obligations or other actions of the other parties under this Agreement, (B) waive compliance with any of the conditions or covenants of the other parties contained in this Agreement and (C) waive or modify performance of any of the obligations of the other parties under this Agreement.  Except as provided in the preceding sentence, no action taken pursuant to this Agreement, including, without limitation, any investigation by or on behalf of any party or beneficiary, shall be deemed to constitute a waiver by the party or beneficiary taking such action of compliance with any representations, warranties, covenants or agreements contained herein.  The waiver by any party hereto or beneficiary hereof of a breach of any provision of this Agreement shall not operate or be construed as a waiver of any preceding or succeeding breach and no 
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failure by a party or beneficiary to exercise any right or privilege hereunder shall be deemed a waiver of such party’s or beneficiary’s rights or privileges hereunder or shall be deemed a waiver of such party’s or beneficiary’s rights to exercise the same at any subsequent time or times hereunder.
(ii)     Amendment.  This Agreement may not be amended, modified or supplemented orally, but only by a written instrument executed by the Employee and the Company.  
(l)Assignability.  Neither this Agreement nor any right, remedy, obligation or liability arising hereunder or by reason hereof shall be assignable by the Company or the Employee without the prior written consent of the other party.
(m)Applicable Law.  This Agreement shall be governed in all respects, including, but not limited to, as to validity, interpretation and effect, by the internal laws of the State of Delaware, without reference to principles of conflict of law that would require application of the law of another jurisdiction.
(n)Waiver of Jury Trial.  Each party hereby waives, to the fullest extent permitted by applicable law, any right he, she or it may have to a trial by jury in respect of any suit, action or proceeding arising out of this Agreement or any transaction contemplated hereby.  Each party (i) certifies that no representative, agent or attorney of any other party has represented, expressly or otherwise, that such other party would not, in the event of litigation, seek to enforce the foregoing waiver and (ii) acknowledges that he, she or it and the other party hereto have been induced to enter into the Agreement by, among other things, the mutual waivers and certifications in this Section 7(n).
(o)Limitations of Actions. No lawsuit relating to this Agreement may be filed before a written claim is filed with the Administrator and is denied or deemed denied as provided in the Plan and any lawsuit must be filed within one year of such denial or deemed denial or be forever barred.
(p)Section and Other Headings, etc.  The section and other headings contained in this Agreement are for reference purposes only and shall not affect the meaning or interpretation of this Agreement.
(q)Acceptance of Restricted Stock Units and Agreement.  The Employee has indicated his or her consent and acknowledgement of the terms of this Agreement pursuant to the instructions provided to the Employee by or on behalf of the Company.  The Employee acknowledges receipt of the Plan, represents to the Company that he or she has read and understood this Agreement and the Plan, and, as an express condition to the grant of the Restricted Stock Units under this Agreement, agrees to be bound by the terms of both this Agreement and the Plan.  The Employee and the Company each agrees 
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and acknowledges that the use of electronic media (including, without limitation, a clickthrough button or checkbox on a website of the Company or a third-party administrator) to indicate the Employee’s confirmation, consent, signature, agreement and delivery of this Agreement and the Restricted Stock Units is legally valid and has the same legal force and effect as if the Employee and the Company signed and executed this Agreement in paper form.  The same use of electronic media may be used for any amendment or waiver of this Agreement.  

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Exhibit A to 
Employee Restricted Stock Unit Agreement

Employee: %%FIRST_NAME%-% %%LAST_NAME%-% 

Grant Date: %%OPTION_DATE,’Month DD, YYYY’%-% 

Restricted Stock Units granted hereby: %%TOTAL_SHARES_GRANTED,'999,999,999'%-% 

          
          
															
	Vesting Date	

	

	Shares Vesting	

	%%VEST_DATE_PERIOD1,’Month DD, YYYY’%-%	

	

	%%SHARES_PERIOD1,'999,999,999'%-%	

	%%VEST_DATE_PERIOD2,’Month DD, YYYY’%-%	

	

	%%SHARES_PERIOD2,'999,999,999'%-%	

	%%VEST_DATE_PERIOD3, ’Month DD, YYYY’%-%	

	

	%%SHARES_PERIOD3,'999,999,999'%-%	

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Exhibit B to 
Employee Restricted Stock Unit Agreement
Restrictive Covenants
Section 1     Confidential Information.
1.1The Employee recognizes that the success of the Company and its current or future Affiliates depends upon the protection of information or materials that are confidential and/or proprietary.  “Confidential Information” means information or materials that (a) are identified as being confidential or proprietary at the time of disclosure to the Employee (or upon notice thereafter) or (b) should, based on their nature or the circumstances surrounding such disclosure, reasonably be deemed confidential.  Confidential Information includes, without limitation, information to which the Employee has access while employed by the Company whether recorded in any medium or merely memorized.  By way of example, “Confidential Information” includes without limitation, and whether or not such information is specifically designated as confidential or proprietary:  all business plans and marketing strategies; information concerning existing and prospective markets, suppliers and customers; financial information; information concerning the development of new products and services; and technical and non-technical data related to software programs, design, specifications, compilations, Inventions (as defined in Section 3.1), improvements, patent applications, studies, research, methods, devices, prototypes, processes, procedures and techniques.  Confidential Information expressly includes information provided to the Company or its Affiliates by third parties under circumstances that require them to maintain the confidentiality of such information.  Notwithstanding the foregoing, the Employee shall have no confidentiality obligation with respect to disclosure of any Confidential Information that (a) was, or at any time becomes, available in the public domain other than through a violation of this Agreement or (b) the Employee can demonstrate by written evidence was furnished to the Employee by a third party in lawful possession thereof and who was not under an obligation of confidentiality to the Company or any of its Affiliates.
1.2The Employee agrees that during the Employee’s employment and after termination of employment irrespective of cause, the Employee will use Confidential Information only for the benefit of the Company and its Affiliates.  Notwithstanding the foregoing, the Employee may disclose Confidential Information as (a) authorized by applicable law (including, but not limited to, any disclosure of information that satisfies the procedures in SEC Regulation § 240.21F-17) or (b) as required pursuant to an order or requirement of a court, administrative agency or other government body.
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This Agreement constitutes notice to the Employee that, under the 2016 Defend Trade Secrets Act (“DTSA”), the following rules shall be applicable: (i) No individual will be held criminally or civilly liable under federal or state trade secret law for the disclosure of a trade secret (as defined under the DTSA) that: (A) is made in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney; and made solely for the purpose of reporting or investigating a suspected violation of law; or (B) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal so that it is not made public; and (ii) an individual who pursues a lawsuit for retaliation by an employer for reporting a suspected violation of the law may disclose the trade secret to the attorney of the individual and use the trade secret information in the court proceeding, if the individual files any document containing the trade secret under seal, and does not disclose the trade secret, except as permitted by court order.  In addition, if the Employee’s employment is governed by the laws of the United Kingdom, nothing in this Agreement shall prevent the Employee from making a protected disclosure under section 43A of the Employment Rights Act 1996.
1.3The Employee hereby assigns to the Company any rights the Employee may have or acquire in such Confidential Information and acknowledges that all Confidential Information shall be the sole property of the Company and/or its Affiliates or their assigns.
1.4There are no rights granted or any understandings, agreements or representations between the parties hereto, express or implied, regarding Confidential Information that are not specified herein.
1.5The Employee’s obligations under this Section 1 are in addition to any obligations that the Employee has under state or federal law.
1.6The Employee agrees that in the course of the Employee’s employment with the Company, the Employee will not violate in any way the rights that any entity, including former employers, has with regard to trade secrets or proprietary or confidential information.
1.7The Employee’s obligations under this Section 1 are indefinite in term and shall survive the termination of this Agreement.
Section 2Return of Company Property.
2.1The Employee acknowledges that all tangible items containing any Confidential Information, including without limitation memoranda, photographs, records, reports, manuals, drawings, blueprints, prototypes, notes, documents, drawings, specifications, software, media and other materials, including any copies thereof (including electronically recorded copies), are the exclusive property of the Company or its applicable Affiliate, and the Employee shall deliver to the Company all such material 
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in the Employee’s possession or control upon the Company’s request and in any event upon the termination of the Employee’s employment with the Company.  The Employee shall also preserve and return any keys, equipment, identification or credit cards, or other property belonging to the Company or its Affiliates upon termination of the Employee’s employment or request.
Section 3Inventions.
3.1The Employee understands and agrees that all Inventions are the exclusive property of the Company.  As used in this Agreement, “Inventions” shall include without limitation ideas, discoveries, developments, concepts, inventions, original works of authorship, trademarks, mask works, trade secrets, ideas, data, information, know-how, documentation, formulae, results, prototypes, designs, methods, processes, products and techniques, improvements to any of the foregoing, and all other matters ordinarily intended by the words “intellectual property,” whether or not patentable, copyrightable, or otherwise able to be registered, that are developed, created, conceived of or reduced to practice (a) by the Employee, alone or with others, (b) during the Employee’s employment with the Company or Affiliates, whether or not during working hours or using the Company’s facility or equipment, or within three (3) months thereafter and (c) related to the Company’s then existing or proposed business.  In recognition of the Company’s ownership of all Inventions, the Employee shall make prompt and full disclosure to the Company of, will hold in trust for the sole benefit of the Company, and (subject to Section 3.2 below) herby assigns, and agrees to assign in the future, exclusively to the Company all of the Employee’s right, title, and interest in and to any and all such Inventions.
3.2NOTICE REQUIRED BY REVISED CODE OF WASHINGTON 49.44.140:  The Employee understands that the Employee’s obligation to assign inventions shall not apply to any inventions for which no equipment, supplies, facilities, or trade secret information of the Company was used and that was developed entirely on the Employee’s own time, unless (a) the invention relates (i) directly to the business of the Company, or (ii) to the Company’s actual or demonstrably anticipated research or development, or (b) the invention results from any work performed by the Employee for the Company.
3.3To the extent any works of authorship created by the Employee made within the scope of employment may be considered “works made for hire” under United States copyright laws, they are hereby agreed to be works made for hire.  To the extent any such works do not qualify as a “work made for hire” under applicable law, and to the extent they include material subject to copyright, the Employee hereby irrevocably and exclusively assigns and conveys all rights, title and interests in such works to the Company subject to no liens, claims or reserved rights.  The Employee hereby waives any and all “moral rights” that may be applicable to any of the foregoing, for any and all uses, alterations, and exploitation hereof by the Company, or its Affiliates, or their 
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successors, assignees or licensees.  To the extent that any such “moral rights” may not be waived in accordance with law, the Employee agrees not to bring any claims, actions or litigation against the Company or its Affiliates, or their successors, assignees or licensees, based on or to enforce such rights.  Without limiting the preceding, the Employee agrees that the Company may in its discretion edit, modify, recast, use, and promote any such works of authorship, and derivatives thereof, with or without the use of the Employee’s name or image, without compensation to the Employee other than that expressly set forth herein.
3.4The Employee hereby waives and quitclaims to the Company any and all claims of any nature whatsoever that the Employee now or hereafter may have for infringement of any patent or patents from any patent applications for any Inventions.  The Employee agrees to cooperate fully with the Company and take all other such acts requested by the Company (including signing applications for patents, assignments, and other papers, and such things as the Company may require) to enable the Company to establish and protect its ownership in any Inventions and to carry out the intent and purpose of this Agreement, during the Employee’s employment or thereafter.  If the Employee fails to execute such documents by reason of death, mental or physical incapacity or any other reason after reasonable attempts by the Company, the Employee hereby irrevocably appoints the Company and its officers and agents as the Employee’s agent and attorney-in-fact to execute such documents on the Employee’s behalf.
3.5The Employee agrees that there are no Inventions made by the Employee prior to the Employee’s employment with the Company and belonging to the Employee that the Employee wishes to have excluded from this Section 3 (the “Excluded Inventions”).  If during the Employee’s employment with the Company, the Employee uses in the specifications or development of, or otherwise incorporates into a product, process, service, technology, or machine of the Company or its Affiliates, or otherwise uses any invention, proprietary know-how, or other intellectual property in existence before the commencement date of Employee’s employment with the Company or any Affiliate owned by the Employee or in which the Employee has any interest (“Existing Know-How”), the Company or its Affiliates, as the case may be, is hereby granted and shall have a non-exclusive, royalty-free, fully paid up, perpetual, irrevocable, worldwide right and license under the Existing Know-How (including any patent or other intellectual property rights therein) to make, have made, use, sell, reproduce, distribute, make derivative works from, publicly perform and display, and import, and to sublicense any and all of the foregoing rights to that Existing Know-How (including the right to grant further sublicenses) without restriction as to the extent of the Employee’s ownership or interest, for so long as such Existing Know-How is in existence and is licensable by the Employee.
Section 4Nonsolicitation and Noncompetition.
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4.1During the Employee’s employment with the Company, and for a period expiring twelve (12) months after the termination of the Employee’s employment (the “Restrictive Period”), regardless of the reason, if any, for such termination, the Employee shall not, in the continent in which the Employee is employed by the Company, directly or indirectly:
(a)solicit or entice away or in any other manner persuade or attempt to persuade any officer, employee, consultant or agent of the Company or any of its Affiliates to alter or discontinue his or her relationship with the Company or its Affiliates;
(b)solicit from any person or entity that was a customer of the Company or any of its Affiliates during the Employee’s employment with the Company, any business of a type or nature similar to the business of the Company or any of its Affiliates with such customer;
(c)solicit, divert, or in any other manner persuade or attempt to persuade any supplier of the Company or any of its Affiliates to discontinue its relationship with the Company or its Affiliates;
(d)solicit, divert, take away or attempt to solicit, divert or take away any customers of the Company or its Affiliates; or
(e)engage in or participate in (i) chemical or ingredient distribution; or (ii) waste remediation businesses.
Section 2Nothing in Section 4.1 limits the Employee’s ability to hire an employee of the Company or any of its Affiliates in circumstances under which such employee first contacts the Employee regarding employment and the Employee does not violate any of subsections 4.1(a), 4.1(b), 4.1(c), 4.1(d) or 4.1(e) herein.
Section 3The Company and the Employee agree that the provisions of this Section 4 do not impose an undue hardship on the Employee and are not injurious to the public; that this provision is necessary to protect the business of the Company and its Affiliates; that the nature of the Employee’s responsibilities with the Company under this Agreement provide and/or will provide the Employee with access to Confidential Information that is valuable and confidential to the Company and its Affiliates; that the Company would not grant Restricted Stock Units to the Employee if the Employee did not agree to the provisions of this Section 4; that this Section 4 is reasonable in terms of length of time, geographic scope and nature of restricted activities; and that adequate consideration supports this Section 4.  In the event that a court determines that any provision of this Section 4 is unreasonably broad or extensive, the Employee agrees that such court should narrow such provision only to the extent necessary to make it reasonable and enforce the provisions as narrowed.
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Section 4Clawback.
a.Without limiting the generality of the remedies available to the Company pursuant to Section 4.3, if, during the Restrictive Period, the Employee, except with the prior written consent of the Board, breaches the restrictive covenants contained in Section 4, the Employee shall pay to the Company in cash any gain the Employee realized in cash in connection with the vesting of the Restricted Stock Units, the related issuance of shares of Company Common Stock and the  sale of Common Stock within the eighteen-month period (or such other period as determined by the Board) ending on the date of the Employee’s breach.  This right of recoupment is in addition to any other remedies the Company may have against the Employee for the Employee’s breach of the restrictive covenants contained in this Section 4.  The Employee’s obligations under this Exhibit B shall be cumulative (but not duplicative, nor operate to extend the length of any such obligations) of any similar obligations the Employee has under the Plan, the Agreement or any other agreement with the Company or any Affiliate.  
Section 5Definitions.  As used in this Exhibit B, capitalized terms that are not defined herein have the respective meaning given in the Plan or the Agreement.

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UNIVAR USA INC.
SUPPLEMENTAL VALUED INVESTMENT PLAN
(As Amended and Restated Effective as of June 1, 2017)
1. Purpose.  The purpose of this Univar USA Inc. Supplemental Valued Investment Plan is to provide a select group of management or highly compensated employees of Univar USA Inc. and certain affiliated companies designated by the President of Univar USA Inc. or the Pension Management Committee with a Plan benefit that permits them to defer the receipt of certain Compensation and be credited with employer contributions.  It is the intention of the Company, and it is the understanding of those Participants covered under the Plan, that the Plan is unfunded for tax purposes and for purposes of Title I of ERISA.  This Plan is intended to comply with Code Section 409A with respect to amounts that are accrued or become vested after 2004 (and earnings thereon), and shall be interpreted to the maximum extent possible in a manner consistent with such intent.
2. Effective Date.  This Plan was originally established effective January 1, 2000.  It was amended and restated effective January 1, 2005 to comply with Code Section 409A with respect to amounts that became accrued or vested after 2004 and earnings thereon and was not intended to materially modify the terms of the Plan applicable to amounts that were accrued and vested under the Plan as of December 31, 2004 and earnings thereon.  The document was later amended and restated effective June 1, 2014.  This document is a complete amendment and restatement of the Univar USA Inc. Supplemental Valued Investment Plan effective June 1, 2017 with changes to the deferral election process for 2017 and all other changes applying for Plan Years beginning on or after January 1, 2018, except as otherwise provided herein.
3. Definitions.
Beneficiary means the person or entity designated pursuant to and in accordance with the VIP.
Code means the Internal Revenue Code of 1986, as amended.
Company means Univar USA Inc., its corporate successors, and any corporation or corporations into which it may be merged or consolidated.  It also means those affiliated companies of Univar USA Inc. which have been approved for participation by either the President of Univar USA Inc. or the Pension Management Committee.  Affiliated companies participating in the Plan are listed in Appendix A, attached hereto and incorporated herein.
Company Match means the amount the Company will credit in accordance with the provisions of Section 6.1 of this Plan.
Compensation means compensation as defined in Article I of the VIP as amended from time to time, such definition to be incorporated herein by reference, except that (i) the Code Section 401(a)(17) limit specified therein shall not be part of the Compensation definition for purposes of this Plan, and (ii) for purposes of determining the amount of a Participant’s 
41154249v.4
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Deferrals, Retirement Contributions and  Company Match for a Plan Year, Deferrals a Participant makes to this Plan during such Plan Year shall be included in Compensation.  Notwithstanding any provision in the Plan to the contrary, for purposes of Deferrals and Company Match, Compensation shall not include (1) Performance-Based Compensation if a Participant is hired after the Company establishes the performance criteria for such Performance-Based Compensation and (2) Compensation that is based on performance criteria but is not Performance-Based Compensation.
Deferral Election means the commitment made by the Participant to defer a specified percentage of the Participant’s Performance-Based Compensation and/or other Compensation to this Plan, with such deferrals applying to Compensation received or earned in the Plan Year immediately following the Plan Year in which the election is made.
Deferrals mean the Participant’s elective deferrals of Compensation under this Plan.
Distribution Event is as defined in Section 9.
Employee means any person who is employed by the Company who meets the definitional requirements of “Employee” as defined in the VIP.
ERISA means the Employee Retirement Income Security Act of 1974, as amended.
Participant means an Employee who meets the eligibility requirements set forth in Sections 4.1 or 5.3 and becomes a Plan Participant pursuant to Sections 4.2 or 5.3 of the Plan.
Performance-Based Compensation means Compensation received based upon the satisfaction of pre-established performance criteria of the Employee, Company or its affiliates as determined by the Company relating to a performance period of at least 12 consecutive months as defined under Code Section 409A and the regulations thereunder.
Plan means the Univar USA Inc. Supplemental Valued Investment Plan.
Plan Account means those bookkeeping accounts established by the Company for each Plan Participant, which shall reflect (a) all Deferrals and any investment earnings, gains and losses credited with respect thereto, (b) all Company Match credited by the Company to each Participant, and any investment earnings, gains, and losses credited with respect thereto, and (c) Retirement Contributions credited by the Company to each Participant who is eligible for such contributions, and any investment earnings, gains, and losses credited with respect thereto.
Plan Administrator means the Pension Management Committee as established from time to time by Univar USA Inc. (herein referred to as the “Pension Management Committee”).
Plan Year means the 12-month period commencing on January 1 and ending on December 31.
Post-2004 Account means amounts that are either credited to a Participant’s Plan Account or become vested after 2004 and earnings thereon.

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Pre-2005 Account means amounts that were credited to a Participant’s Plan Account and vested as of December 31, 2004 and earnings thereon.
Retirement Contribution means the amount which the Company will credit in accordance with the provisions of Section 6.2 of this Plan.
VIP means the Univar USA Inc. Valued Investment Plan as amended from time to time.
4. Participation.
4.1 Employee Eligibility.  Eligibility is determined each Plan Year.  An Employee shall be eligible to make Deferrals and receive Company Match in the Plan for an up-coming Plan Year if on a specified date the Employee meets the following criteria:
(i) The Employee is employed by the Company (a) in a position of Director Level 1 or above, or (b) in a position of Director Level 2 and was making Participant Deferrals to the Plan in the 2016 Plan Year; and
(ii) The Employee is earning a base salary at least equal to the amount set forth in Code Section 414(q)(1)(B)(i) (as adjusted from time to time by the Secretary of the Treasury pursuant to Code Section 414(q)(1)) which would have caused the Employee to be considered a highly compensated employee pursuant to Code Section 414(q) for the up-coming Plan Year (e.g., $120,000 is the threshold for base salary for participation during the 2018 Plan Year because an employee has to earn at least $120,000 in total compensation in 2017 to be considered highly compensated in 2018 for VIP purposes).
Satisfaction of the criteria is determined on May 31 of the calendar year immediately preceding the applicable Plan Year with respect to the Employee’s eligibility to make Deferrals of his Performance-Based Compensation and January 1 of the following Plan Year with respect to the Employee’s eligibility to make Deferrals of his Compensation (other than Performance-Based Compensation).  Because of the separate dates for determination of eligibility, an Employee may be eligible to defer Performance-Based Compensation but not other Compensation and vice-versa.  
Notwithstanding the preceding, if an Employee described in subsection (i)(b) does not make a Deferral Election for either his Performance-Based Compensation or other Compensation during the 2017 enrollment periods, the Participant will become ineligible to participate in the Plan, unless the Employee meets the other eligibility criteria. 
An Employee shall be eligible to receive Retirement Contributions for a Plan Year if the Employee (i) makes Deferrals to the Plan for such Plan Year, or (ii) is eligible to make Deferrals to the Plan for such Plan Year and has retirement contributions in the VIP limited by Code Sections 401(a)(17) or 415(c).

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4.2 Participation. An eligible Employee shall become a Participant with respect to making Deferrals or receiving Company Match for a Plan Year when the Employee’s Deferral election form is received by the Plan Administrator or its delegate. An eligible Employee shall become a Participant in the Plan with respect to being eligible for Retirement Contributions for a Plan Year when he or she makes Deferrals in such Plan Year or has retirement contributions in the VIP limited by Code Sections 401(a)(17) or 415(c) for such Plan Year. Subject to Sections 5.3 and 5.4, individuals who first become an Employee eligible to participate in the Plan pursuant to Section 4.1, or who again become eligible to participate in the Plan pursuant to Section 4.1 after not being eligible in a prior Plan Year, shall not be allowed to commence (or recommence) active participation in this Plan until the following Plan Year.
4.3 Effect and Duration.  Upon becoming a Participant, an Employee shall be entitled to the benefits and shall be bound by all terms and conditions of the Plan.  Each Employee who becomes a Participant in the Plan shall remain a Participant until his termination of participation in the Plan, provided however, that such Participant shall be eligible to make deferrals to the Plan and receive Company Match and Retirement Contributions (if otherwise eligible) only as long as the Participant meets the requirements of Section 4.1 of the Plan, as amended from time to time.
4.4 Re-employment.  If an Employee’s employment is terminated and such Employee is subsequently rehired by the Company, such Employee shall be eligible to participate in the Plan only if the Employee meets the eligibility criteria of Section 4.1.
5. Deferrals.
5.1 Manner.  A Participant may defer not less than one percent (1%) and not more than seventy-five percent (75%) of his Performance-Based Compensation and/or not less than one percent (1%) and not more than seventy-five percent (75%) of Compensation (other than Performance-Based Compensation) to the Plan.  A Participant shall make separate Deferral Elections with respect to his Performance-Based Compensation and his other Compensation.    Deferrals shall be credited to the Participant’s Plan Account as of each applicable pay period in which the Participant makes Deferrals to the Plan.  If an Employee who meets the eligibility criteria in Section 4.1 fails to properly complete the Deferral Election by the prescribed time or in the manner specified by the Plan Administrator, he will be deemed to have elected not to make any Deferrals for the applicable Plan Year.  Unless the Pension Management Committee determines otherwise, Deferral Elections shall carry over from one year to the next.
5.2 Timing.  Plan Participants must complete the Deferral Election with respect to an up-coming Plan Year during an enrollment period established by the Plan Administrator during the calendar year that immediately precedes such up-coming Plan Year.  For Performance-Based Compensation, the enrollment period established will end no later than June 30 of the calendar year before the calendar year in which such Performance-Based Compensation is paid.  Any such Deferral Elections shall become irrevocable on June 30.  For all other Compensation, the enrollment period established will end no later than December 31 of the calendar year before the calendar year in which such other Compensation is earned.  Any such Deferral Elections shall become irrevocable on December 31.  

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5.3 First Year Eligibility.  Notwithstanding any other provisions in the Plan to the contrary, within 30 days after the date an Employee first becomes employed by the Company in a Director Level I or higher position between January 1 and November 1 who is earning a base salary at least equal to the amount described in Section 4.1(ii) for purposes of determining eligibility for the Plan Year in which such 30-day period commences, the Employee may complete a Deferral election to defer between one percent (I%) and seventy-five percent (75%) of the Employee’s Compensation (other than incentive compensation or Performance-Based Compensation) earned in pay periods commencing after the election is submitted through the end of the Plan Year in which the election is made. 
Elections under this Section 5.3 shall only be made available in a manner consistent with the requirements of Code Section 409A and applicable regulations thereunder, and any administrative rules set forth by the Pension Management Committee or its delegate (including, without limitation, rules regarding use of paper election forms). Eligibility to make Deferral elections under this Section 5.3 is in addition to, and not in lieu of, any right an Employee has to make Deferral elections pursuant to Sections 5.1 and 5.2 above.
5.4 Irrevocability of Election.  For Plan Years for which a Participant has timely filed and completed the Deferral Election, the Participant may not change, terminate or increase or decrease his Deferrals once the Deferral Election becomes irrevocable with respect to a Plan Year.  A Participant who makes a Deferral Election pursuant to Section 5.3 with respect to base salary earned (or commenced to be earned) in the Plan Year in which such election is submitted may not change, terminate or increase or decrease such Deferrals. Notwithstanding the foregoing in this Section 5.4, during the period that a Participant is on either short term disability or long term disability under the Employer’s short-term or long-term disability plans, Deferrals shall not be made to the Plan.  Once such a Participant returns to active employment with the Employer, Deferrals will immediately recommence to this Plan at the same deferral percentage rate as in effect before the Participant commenced his or her disability leave.  For purposes of this Section 5.4, a Participant shall be considered disabled if the Participant has a medically determinable physical or mental impairment resulting in the Participant’s inability to perform the duties of his or her position or any substantially similar position, where such impairment can be expected to result in death or can be expected to last for a continuous period of not less than six months.  A Participant who terminates employment after having submitted a deferral election for a Plan Year and is rehired before the end of such Plan Year in a position that meets the eligibility criteria of Section 4.1 will immediately recommence Deferrals to this Plan for such Plan Year at the same deferral percentage rate the Participant had elected prior to his or her termination of employment.
Notwithstanding any provisions of the Plan to the contrary, if a Participant takes a hardship withdrawal from the VIP, the Participant’s election for Deferrals under this Plan shall be cancelled for the remainder of the calendar year in which the withdrawal is made and for the calendar year that includes the six-month anniversary of the date in which the hardship withdrawal is received (if different), in accordance with the Treasury Regulations issued pursuant to Code Section 409A.
6. Employer Contributions.

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6.1 Company Match.  No later than the January after the end of a Plan Year, the Company shall credit to the Plan Account of any Participant an amount equal to the lesser of:
(i) the amount of the Participant’s Deferrals made during such Plan Year, or
(ii) 4% of the difference between
(a) the amount of Compensation the Participant received in such Plan Year and 
(b) his compensation for purposes of the VIP for such Plan Year.
6.2 Retirement Contributions.  For any Participant who is eligible to receive a retirement contribution pursuant to Section 3.5 of the VIP, the Company shall credit such Participant’s Plan Account with a Retirement Contribution.  The Retirement Contribution shall be an amount equal to the difference between the amount of the retirement contribution allocated to the Participant’s retirement contribution account in the VIP for such Plan Year and the amount of the retirement contribution that would have been contributed and allocated to the Participant’s retirement contribution account in the VIP for such Plan Year if (i) the limits under Code Sections 401(a)(17) and 415(c) did not apply to the VIP, and (ii) Deferrals a Participant makes to this Plan during such Plan Year were included in the definition of compensation in Article I of the VIP.  Retirement Contributions earned by a Participant for a Plan Year shall be credited no later than the January that immediately follows the Plan Year for which it is made.
7. Investments.
7.1 Plan Account.  All Deferrals and Company Match and Retirement Contributions (if any) shall be credited to a Plan Account established in the Participant’s name.  A Participant’s Plan Account is a bookkeeping device to track the amount of deferrals, Company Match and Retirement Contributions and earnings with respect thereto, the vested portion of which the Company owes the Participant.  No assets shall be reserved or segregated in connection with any Plan Account, and no Plan Account shall be insured or otherwise secured.
7.2 Investment of Plan Account.  A Participant’s Plan Account shall be deemed to be invested in the investment options and percentages that are selected by the Participant.  The Plan Administrator shall determine and communicate to Participants the investment options available under the Plan which might not be the same investment options available under the VIP.  If the Participant fails to make an investment election, his or her Plan Account will be deemed to be invested in a default fund that is specified by the Plan Administrator for the Plan.  The Plan Account shall be adjusted to reflect the earnings, gains and losses, net of any allocable costs or expenses, such account would experience had it actually been invested in the specific funds at the relevant times.  Participants may change their deemed investment elections under the Plan by notifying the Plan Administrator (or its delegate, or the Trustee of the rabbi trust that may be established for their Plan Account) of their change in investment election for their Plan Account.  The Plan Administrator or its delegate shall set forth from time to time the procedures Participants are to use in making or changing their deemed investment elections for their Plan 

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Accounts.  The Company is not obligated to actually invest any assets in the investment funds selected by the Participant.
7.3 Valuation of Plan Accounts.  The Plan Administrator or its delegate shall determine the value of each Participant’s Plan Account balance on each date that the deemed investment options available under the Plan are valued by the managers of such investment options, and the value of the deemed investment earnings, gains and losses on Deferrals and Company Match and Retirement Contributions (if any) shall be determined in the same manner and consistent with the valuations given by the managers of such investment options.
7.4 Determination of Amount.  The Plan Administrator or its delegate shall verify the amount of Deferrals, Company Match and Retirement Contributions (if any), and earnings, gains and losses to be credited to each Participant’s Plan Account in accordance with the provisions of the Plan.  This determination shall be final and conclusive upon all Participants and Beneficiaries hereunder, absent manifest error.  As soon as reasonably practicable after the close of the Plan Year, the Plan Administrator or its delegate shall send to each Participant an itemized accounting statement which shall reflect the Participant’s Plan Account balance.
7.5 Effect of Plan Termination.  Notwithstanding anything to the contrary contained in the Plan, the termination of either the Plan or the VIP shall terminate the liability of the Company to make Company Match or Retirement Contributions to the Plan with respect to Compensation received after such plan termination.  Termination of the Plan will also terminate the liability of the Company to make Deferrals to the Plan with respect to Compensation received after such plan termination at such time as is permitted by Code Section 409A and the applicable regulations and IRS guidance thereunder.
8. Vesting.
8.1 Vesting in Deferrals and Company Match.  For purposes of determining a Participant’s vested interest in Company Match and deemed investment earnings, gains and losses thereon credited to a Participant’s Plan Account, a Participant shall become vested in those Company Match and deemed investment earnings, gains and losses thereon in accordance with the vesting provisions as set forth in Article 6 of the VIP, as amended from time to time, such provisions to be herein incorporated by reference.  A Participant shall always be 100% vested in his Deferrals and deemed investment earnings, gains and losses thereon.
8.2 Vesting in Retirement Contributions.  For purposes of determining a Participant’s vested interest in Retirement Contributions and deemed investment earnings, gains and losses thereon credited to a Participant’s Plan Account, a Participant shall become vested in those Retirement Contributions and deemed investment earnings, gains and losses thereon in accordance with the vesting provisions as set forth in Section 6.1 of the VIP relating to retirement contributions made under the VIP, as amended from time to time, such provisions to be herein incorporated by reference.  Thus a Participant shall become vested in his or her Retirement Contributions under this Plan and deemed investment earnings, gains and losses thereon if and when he or she becomes vested in his or her retirement contribution account in the VIP.

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9. Distribution.  For purposes of this Plan, a Participant’s “Distribution Event” shall mean the first to occur of the following events: the Participant’s death, or separation from service with the Company, whether voluntary or involuntary.  Notwithstanding the immediately preceding sentence, a Participant who separates from service with the Company in connection with a transfer of employment from the Company to an affiliate of the Company (including any affiliated companies that have not adopted the Plan as a participating employer) shall not be treated as having separated from service with the Company nor as having a Distribution Event for purposes of this Section 9.  Such a Participant will be considered to have separated from service with the Company when he or she has terminated employment with the affiliate, the Company and all other affiliates of the Company.
For purposes of this Plan with respect to a Participant’s Pre-2005 Account, “separation from service” shall mean termination of employment (as that term was used and interpreted by the Plan Administrator under the terms of the Plan in effect prior to 2005).  For purposes of this Plan with respect to a Participant’s Post-2004 Account, “separation from service” shall have the meaning set forth in Code Section 409A(a)(2)(A)(i) and Treasury Regulations thereunder and other applicable guidance from the Internal Revenue Service.
9.1 Distribution of Pre-2005 Account.  The distribution of the Participant’s Pre-2005 Account shall be made in a single cash lump sum payment as soon as reasonably practicable after the Distribution Event occurs.  Notwithstanding the foregoing, a Participant may elect that in lieu of the foregoing, the Participant will receive either a single cash lump sum payment during the month of January which immediately follows the calendar year in which the Distribution Event occurs or his benefit payment in three (3) substantially equal annual cash installments.  If installment payments are elected, the first installment shall be paid as soon as reasonably practicable after the Distribution Event occurs, and the second and third payments shall be paid on the respective 1 year anniversary dates of the date of the Distribution Event.  If a Participant wishes to receive his benefit payment in the January which immediately follows the calendar year in which the Distribution Event occurs or in three annual installments (as opposed to in an immediate lump sum payment), the Participant must make such an election (i) in the form and manner prescribed by the Plan Administrator, (ii) at least six (6) months prior to the Participant’s Distribution Event, and (iii) in a calendar year prior to the calendar year in which the Distribution Event occurs.  A distribution election (or change in election) that does not meet these requirements will not be valid or effective.
If a Participant dies before the distribution of his Plan benefit has been made or commenced, the Participant’s entire vested interest under the Plan shall be distributed within 60 days of the date of death to his Beneficiary in the form of an immediate single cash lump sum payment.  In the event the Participant dies without a designated beneficiary (or a designated beneficiary that survives the Participant), the Plan benefit shall be paid to the Participant’s estate.  If a Participant elects to receive his or her Plan Account in the form of installments and the Participant dies after such installment payments have commenced but before the Participant receives his or her entire benefits, the Participant’s Beneficiary shall continue to receive the Participant’s vested Plan Account in the form of installment payments under the installment schedule elected by the Participant.

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9.2 Distribution of Post-2004 Account.  Except as set forth below in this Section 9.2 or in Sections 9.3 or 9.4, the vested portion of a Participant’s Post-2004 Account shall be distributed in a single cash lump sum during the month of January immediately following the calendar year in which the Participant’s Distribution Event occurs.  A Participant may elect to receive the vested portion of his or her Post-2004 Account in a single cash lump-sum payable in the number of years (specified by the Participant and must be at least five (5) years) after the January immediately following the calendar year in which the Participant has a Distributable Event which is a separation from service.  To be effective, a Participant’s distribution delay election must be submitted to the Plan Administrator prior to the calendar year in which the Participant has the Distribution Event in the form and manner prescribed by the Plan Administrator.  A Participant may only submit one distribution delay election and, once submitted, the election cannot be revoked or changed by the Participant for any reason.  If the Participant dies prior to receiving his or her Post-2004 Account, the vested portion of such account shall be distributed to his or her Beneficiary in a single cash lump-sum payment within 60 days of the Participant’s death.
9.3 Cash-Outs of Small Plan Accounts.  Notwithstanding anything in this Article 9 of the Plan to the contrary (other than Section 9.4 below), if the vested portion of a Participant’s Plan Account payable to any person under the terms of this Plan is less than or equal to the dollar limit set forth in Code Section 402(g), as amended from time to time ($18,000 for 2017) and determined at the time of the Distribution Event, the Participant’s Plan Account shall be paid in a single cash lump sum payment as soon as reasonably practicable (and in no event later than 90 days) after a Distribution Event occurs.
9.4 Six Month Delay for Specified Employees.  Notwithstanding the foregoing, if at the time a Participant separates from service the Participant is considered a “specified employee” subject to the required six month delay in benefit payments under Code Section 409A(a)(2)(B)(i), then any distribution of the Participant’s vested Post-2004 Account that would otherwise be made within the first six (6) months after such Participant’s separation from service shall be paid in a single lump sum on (or within 15 days after) the first day of the seventh month following the Participant’s separation from service.  Nothing in this Section 9.4 shall change the form or timing of benefit payout if a Participant who is a specified employee dies after separation from service and before the six month anniversary of such separation from service.
10. Loans and Withdrawals.  Prior to the Participant’s separation from service with the Company, the Participant may not withdraw any amounts from his Plan Account.  Participants may not borrow from or against their Plan Accounts.
11. Administration of Plan.  The Pension Management Committee, which shall be the “Administrator” of the Plan for purposes of ERISA and the “Plan Administrator” for purposes of the Code, shall be responsible for the general administration of the Plan, for carrying out the provisions hereof, and for determining the amount of payments hereunder.  The Plan Administrator shall have the sole and absolute discretionary authority and power to interpret, construe and carry out the provisions of the Plan, including, but not limited to, the authority and power (a) to determine all questions relating to the eligibility for and the amount of any benefit to 

41154249v.7

be paid under the Plan, (b) to determine all questions pertaining to claims for benefits and procedures for claim review, (c) to interpret and construe ambiguous Plan terms and resolve all other questions arising under the Plan, including any questions of construction or interpretation, and (d) to take such further action as the Plan Administrator shall deem necessary or advisable in the administration of the Plan.  Subject to the requirements of law, the Plan Administrator shall be the sole judge of the standard of proof required in any claim for benefits and in any determination of eligibility for a benefit.  All decisions of the Plan Administrator shall be final and binding on all parties.  The Plan Administrator may employ such attorneys, investment counsel, agents, and accountants and designate employees of the Company as it may deem necessary or advisable to assist it in carrying out its duties hereunder.
12. Amendment or Termination of the Plan.
12.1 Reservation of Rights.  Univar USA Inc. may amend or terminate the Plan at any time by action of its Board of Directors, President or Pension Management Committee.  No such action shall reduce the amount credited to any Participant’s  Plan Account as of the effective date of such amendment or termination.  Notwithstanding the foregoing, only the Board of Directors of Univar USA Inc. may adopt amendments that, at the time of adoption, are expected to significantly increase the cost of the Plan to the Company.  In the event Univar USA Inc. terminates the Plan, Participants with existing Plan Account balances will automatically become 100% vested in their Plan Accounts.
12.2 Effect of Plan Termination.  If Univar USA Inc. terminates the Plan, Participants shall receive a distribution of their Plan Accounts at the same time and in the same manner as if the Plan had not been terminated; provided however, that Univar USA Inc. may decide, in its sole discretion, to distribute Pre-2005 Accounts in a single cash lump-sum payment as soon as practicable (and in no event later than 90 days) following termination of the Plan.
13. Limitation of Rights.  Nothing herein contained shall be construed as a commitment or agreement by the Company to any Employee hereunder to continue his employment with the Company for any period of time, in any position, or at any particular rate of compensation or compensation grade level.  All Participants shall remain subject to discharge to the same extent as if the Plan had never been put into effect.
14. Participant’s Unsecured Rights.  The benefits provided by this Plan are unfunded and unsecured.  All benefits payable under this Plan are paid either from the general assets of the Company, or from the rabbi trusts established by Univar USA Inc. or its affiliates that are participating employers in this Plan (i.e., companies treated as the Company as herein defined).  Univar USA Inc. and the participating employers listed on Appendix A hereto are jointly and severally liable for the payment of Plan benefits to Participants.  Univar Delaware, Inc. has established a rabbi trust that will, absent the insolvency of Univar Delaware, Inc., pay Plan benefits to Participants employed (or last employed) by Univar Inc. or Univar Delaware, Inc.  Univar USA Delaware, Inc. has established a rabbi trust that will, absent the insolvency of Univar USA Delaware, Inc., pay Plan benefits to Participants employed (or last employed) by Univar USA Inc. or Univar USA Delaware, Inc. or any affiliate of Univar USA Inc. other than Univar Inc. or Univar Delaware, Inc.  Rabbi trust assets shall be subject to the claims of the 

41154249v.7

creditors of the company that established the trust should such company become insolvent.  Nothing contained in this Plan requires the Company to set aside or hold in trust any amounts or assets for the purpose of paying benefits to Participants.  This Plan creates only a contractual obligation on the part of the Company to pay to the Participant or Beneficiary an amount equal to the vested portion of the value of the Participant’s Plan Account.  The Participant shall be no more than a general unsecured creditor of the Company with no special or prior right to any assets of the Company or any rabbi trust for payment of any obligations hereunder.
15. Claims Procedure.
15.1 Claims for Benefits. The Plan Administrator or its delegate shall notify a person making a claim for benefits under this Plan (herein referred to as the “Claimant”) in writing, within ninety (90) days after it receives his claim for benefits under the Plan.  If the Plan Administrator or its delegate determines that a Claimant is not eligible for benefits or full benefits, the notice shall set forth:  (i) the specific reasons for such denial; (ii) a specific reference to the provisions of the Plan on which the denial is based; (iii) a description of any additional information or material necessary for the Claimant to perfect his claim, and a description of why it is needed; and (iv) an explanation of the Plan’s claims review procedure, including the Claimant’s right to bring a civil action under Section 502(a) of ERISA following a denial on review.   If the Plan Administrator or its delegate determines that there are special circumstances requiring additional time to make a decision, the Plan Administrator or its delegate shall notify the Claimant of the special circumstances and the date by which a decision is expected to be made, and may extend the time of the initial review for up to an additional ninety-day period.
15.2 Appeals.  If a Claimant is determined by the Plan Administrator or its delegate not to be eligible for benefits, or if the Claimant believes that he is entitled to greater or different benefits, the Claimant shall have the opportunity to have such claim reviewed by the Plan Administrator by filing a written appeal for review with the Plan Administrator within sixty (60) days after receipt of the denial notice issued by the Plan Administrator.  The appeal shall state the specific reasons that the Claimant believes entitle him to benefits or to greater or different benefits.  The Plan Administrator shall notify the Claimant of its decision in writing within the sixty (60) day period unless special circumstances require further time for processing, but in no event shall the decision on review be rendered more than one hundred twenty (120) days after the Plan Administrator received the request for review..  In the event the Plan Administrator confirms the denial of the application for benefits, in whole or in part, such notice shall set forth, in a manner calculated to be understood by the Claimant, the specific reasons for such denial and specific references to the Plan provisions on which the decision was based, the Applicant’s right to receive upon request, free of charge, reasonable access to, and copies of, all relevant documents, records and other information to his claim, and his right to bring a civil action under Section 502(a) of ERISA.  The Plan Administrator’s decision on appeal shall be final, binding and conclusive on all parties.
Upon receipt of a request for review, the Plan Administrator shall issue a written decision reaffirming, modifying or setting aside its former action within 45 days after receipt of the 

41154249v.7

written request for review, or 90 days if special circumstances require an extension.  The Claimant shall be notified in writing of any such extension within 45 days following the request for review.  A copy of the decision shall be furnished to the Claimant.  The decision shall set forth the Plan Administrator’s reasons for the decision, pertinent Plan provisions on which the decision is based, a statement that the Claimant is entitled to receive, upon request and free of charge, reasonable access to and copies of all documents relevant to the Claimant’s claim for benefits, a statement of the Claimant’s right to bring an action under ERISA Section 502(a), and a copy of the specific rule, guideline, protocol or other specific criterion that was relied upon in making the decision (or a statement that such guideline or protocol will be provided free of charge upon request).
16. Miscellaneous.
16.1 Corporate Assets.  All Deferrals, Company Match and Retirement Contributions and any earnings, gains and losses credited to a Participant’s Plan Account remain the assets and property of the Company (or, to the extent such amounts are held in a rabbi trust, assets and property of such trust), which shall be subject to distribution to the Participant only in accordance with Section 9 of the Plan.  With the exception of the creation of rabbi trusts as described in Section 14 above, nothing contained in the Plan shall create, or be construed as creating a trust of any kind or any other fiduciary relationship between the Participant, the Company or any person.  It is the intention of the Company and the Participants that the Plan be unfunded for tax purposes and for purposes of Title I of ERISA, as amended.
16.2 No Present Interest.  Subject to any federal statute to the contrary, no right or benefit under the Plan and no right or interest in any Participant’s Plan Account shall be subject to anticipation, alienation, sale, assignment, pledge, encumbrance, or charge, and any attempt to anticipate, alienate, sell, assign, pledge, encumber, or charge any right or benefit under the Plan, or Participant’s Plan Account, shall be void.  No right, interest, or benefit under the Plan or Participant’s Plan Account shall be liable for or subject to the debts, contracts, liabilities, or torts of the Participant or Beneficiary.  If the Participant or Beneficiary becomes bankrupt or attempts to alienate, sell, assign, pledge, encumber, or charge any right under the Plan or Participant’s Plan Account, such attempt shall be void and unenforceable.
16.3 ERISA Plan.  The Plan is intended to be an unfunded program maintained primarily to provide deferred compensation benefits for “a select group of management or highly compensated employees” within the meaning of Sections 201, 301 and 401 of ERISA and therefore to be exempt from Parts 2, 3 and 4 of Title I of ERISA.
16.4 Gender, Singular and Plural.  All pronouns and variations thereof shall be deemed to refer to the masculine, feminine, or neuter, as the identity of the person or persons may require.  As the context may require, the singular may be read as the plural and the plural as the singular.
16.5 Captions.  The captions of the sections and subsections of the Plan are for convenience only and shall not control or affect the meaning or construction of any of its provisions.

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16.6 Validity.  If any provision of the Plan is held invalid, void or unenforceable, the same shall not affect, in any respect whatsoever, the validity of any other provisions of the Plan.
16.7 Waiver of Breach.  The waiver by the Company of any breach of any provision of the Plan by the Participant shall not operate or be construed as a waiver of any subsequent breach by the Participant.
16.8 Notice.  Any notice or filing required or permitted to be given to the Plan Administrator under the Plan shall be sufficient if in writing and hand-delivered, or sent by first class mail to the principal office of Univar USA Inc., directed to the attention of the Plan Administrator.  Such notice shall be deemed given as of the date of delivery, or, if delivery is made by mail, as of the date shown on the postmark.
16.9 Expenses.  The expenses of administration of the Plan shall be paid by the Company.
16.10 Withholding.  The Company shall withhold any taxes that the Company in its discretion deems necessary to be withheld from any payment to any Participant or Beneficiary hereunder, by reason of any present or future law.
17. Legally Binding.  In the event of any consolidation, merger, acquisition or reorganization, the obligations of the Company under this Plan shall continue and be binding on the Company and its successors or assigns.  The rights, privileges, benefits and obligations under the Plan are intended to be legal obligations of the Company and binding upon the Company, its successors and assigns.
18. Other Benefits.  Nothing in this Plan shall diminish or impair the Participant’s eligibility, participation or benefit entitlement under any qualified retirement plan for employees of the Company, or any other benefit, insurance or compensation plan or agreement of the Company now or hereinafter in effect. Notwithstanding the foregoing, benefits paid under this Plan shall not be considered as salary, wages or other compensation for purposes of calculating the amount of benefits payable under any other benefit plan, program or arrangement sponsored by the Company, its subsidiaries or affiliates including, without limitation, any pension, profit sharing, life, disability or severance benefits.
19. Venue and Governing Law.  In the event the Company, Plan Administrator or any Participant (or in the case of the Participant’s death, his Beneficiary) initiates litigation related to this Plan, it is agreed and understood that venue for such action will be in King County, Washington.  It is further agreed and understood that this Plan shall be governed by and construed under the laws of the State of Washington, or federal law to the extent it preempts Washington law.
20. Attorneys’ Fees and Costs.  In the event that a dispute regarding benefits arises between the Plan Administrator and Participants and such dispute is resolved through arbitration or litigation in court, the prevailing party(ies) shall be entitled to their reasonable attorneys’ fees and costs incurred in such action.

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21. Former Accounts of Ellis & Everard (US Holdings) Inc. Deferred Compensation Plan.  Effective as of  July 1, 2002, accounts in the Ellis & Everard (US Holdings) Inc. Deferred Compensation Plan (“E&E Plan”) were transferred to this Plan and the provisions of this Plan (including, without limitation, provisions regarding deemed investments and the form and timing of benefit distributions) will govern such transferred accounts.  Notwithstanding the foregoing, participants in the E&E Plan who are currently receiving payment of their E&E Plan benefit in a series of fixed annual installments over five, ten or fifteen years shall continue to receive such installment payments over the applicable time period with respect to their transferred E&E Plan account.  Participants in the E&E Plan shall have all rights under this Plan with respect to their transferred accounts and such accounts are fully vested and nonforfeitable.
IN WITNESS WHEREOF, Univar USA Inc. hereby adopts and executes the foregoing Plan this 20th day of December, 2017.
UNIVAR USA INC.

By: /s/ David Jukes
Its: President

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APPENDIX A
AFFILIATED COMPANIES PARTICIPATING IN THE PLAN
						
	Company	Effective Date
	ChemPoint.com, Inc.	January 1, 2000
	Univar Inc.	July 4, 2002
	Univar Delaware, Inc.	July 1, 2004
	Univar USA Delaware, Inc.	July 1, 2004
	Magnablend	July 1, 2014

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41154249v.7

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