Document:

Exhibit

Exhibit 10.17

INGEVITY CORPORATION

Non-Employee Director Compensation Policy

		
	1.
	General.  The Non-Employee Director Compensation Policy (the “Policy”) as set forth herein provides for the compensation payable to the non-employee directors of Ingevity Corporation (the “Company”) certain elements of which were previously approved by the Company’s Board of Directors by Unanimous Written Consent on May 15, 2016, and ratified by the Compensation Committee of the Board of Directors of the Company on May 27, 2016.  Capitalized but undefined terms used herein shall have the meanings provided for in the Ingevity Corporation 2016 Omnibus Incentive Plan (the “Plan”). 

		
	2.
	Annual Retainer and Other Compensation. Each member of the Board who is not or has not been employed by the Company or one of its subsidiaries (a “Non-Employee Director”) shall be entitled to an annual retainer as follows:

		
	a.
	The annual retainer fee for service on the Board shall be $75,000 (such amount the “Annual Retainer”) with $75,000 of the Annual Retainer payable at the Non-Employee’s direction 100% in either (i) fully vested deferred stock units (“DSUs”) (valued based on the Fair Market Value of the Common Stock on the date of grant) or (ii) cash. If no election is made, the Annual Retainer will be paid 100% in cash. 

		
	b.
	The annual retainer fee for service as the Chair of the Board of Directors shall be $70,000, the annual retainer fee for service as the Chair of the Audit Committee shall be $15,000, and the annual retainer fee for service as the Chair of either the Compensation or Nominating and Governance Committee shall be $10,000 (“Other Compensation”). Other Compensation is payable at the Non-Employee’s direction 100% in either (i) fully vested DSUs (valued based on the Fair Market Value of the Common Stock on the date of grant or (ii) cash.  If no election is made, the Other Compensation will be paid 100% in cash. 

		
	3.
	Timing of Payment of Annual Retainer and Other Compensation. The Annual Retainer and Other Compensation payable are intended to cover service from one annual meeting of the shareholders to the next and, unless a deferral election is made as provided below, shall be paid quarterly in advance on the first business day of each calendar quarter,  without any requirement of additional Board action in connection therewith. 

		
	4.
	Annual Stock Award. Each Non-Employee Director shall also be entitled to receive an annual stock award in the form of Restricted Stock Units (or “RSUs”) valued at $90,000 as of the close of business on the date of grant. RSUs are granted as of the next business day after the date of the Company’s annual shareholders meeting, without any 

Exhibit 10.17

requirement of additional Board action in connection there with, and will vest on the first anniversary of the grant date.  The RSUs shall be granted pursuant to terms and conditions set forth in a written agreement or form approved by the Compensation Committee of the Board. Unless a deferral election is made as provided below, the RSUs will be distributed in actual shares of Common Stock within thirty (30) days of vesting.

		
	5.
	Pro- ration. A new (or terminating) Non-Employee Director who commences service after the annual meeting of shareholders (or who retires before the next annual meeting) shall be entitled to a pro-rated Annual Retainer, Other Compensation, if applicable, and annual RSU as approved by the incumbent Non-Employee Directors in such year. Pro-ration shall be as of the first day of the calendar quarter in which service by a director commences in the case of new employees, and as of the last day of the calendar quarter in which service by a director terminates in the case of terminating directors. The amount of the pro-rated compensation shall be described in the terms and conditions applicable to the Non-Employee’s specific award, as approved by the Compensation Committee of the Board of Directors. 

		
	6.
	Deferral Election. A Non-Employee Director may elect to receive DSUs in lieu of (i) his or her Annual Retainer, (ii) Other Compensation, and (iii) RSUs.  Any DSUs that relate to a Non-Employee Director’s Annual Retainer, Other Compensation or RSUs shall be subject to the same vesting provisions as set forth in Section 2 above, or as set forth in the award terms and conditions.  If the Non-Employee Director elects to receive DSUs, the units will be credited to a bookkeeping account under the Company’s Non-Employee Director Deferred Compensation Plan, where each unit will be equivalent in value to one share of Common Stock, and the units will not be distributed in actual shares of Common Stock, until the Non-Employee Director terminates his service from the Board, except as otherwise provided for in the award terms or the Plan.

		
	7.
	Effect of Other Plan Provisions.  All of the provisions of the Plan shall apply to the Awards granted automatically pursuant to this Policy.

		
	8.
	Policy Subject to Amendment, Modification and Termination. This Policy may be amended, modified or terminated by the Compensation Committee of the Board in the future at its sole discretion. Without limiting the generality of the foregoing, the Board or the Compensation Committee hereby expressly reserves the authority to terminate this Policy during any year up and until the election of directors at a given annual meeting of shareholders.Exhibit

Exhibit 10.14g

NON-EMPLOYEE DIRECTOR

TERMS AND CONDITIONS

		
	1.
	Terms and Conditions: This grant of service-based restricted stock units is made under the Ingevity Corporation 2016 Omnibus Incentive Plan (the “Plan”), and is subject in all respects to the terms of the Plan. All terms of the Plan are hereby incorporated into these terms and conditions (the “Terms and Conditions”) by reference. In the event of a conflict between one or more provisions of these Terms and Conditions and one or more provisions of the Plan, the provisions of the Plan shall govern. Each capitalized term not defined herein has the meaning assigned to such term in the Plan.

		
	2.
	Confirmation of Grant: Effective as [April 28, 2017] (the “Award Date”), Ingevity Corporation (the “Company”) granted the Non-Employee Director whose name is set forth in the notice of grant (the “Grantee”) time-based Restricted Stock Units with respect to a specified number of shares of Common Stock as set forth in the Grantee’s notice of grant (the “RSUs”). By accepting the RSUs, the Grantee acknowledges and agrees that the RSUs are subject to the Terms and Conditions and the terms of the Plan.

		
	3.
	Stockholder Rights:

		
	a.
	Except as provided in Section 3(b) below, the Grantee will not have any stockholder rights or privileges (including voting rights) with respect to the shares of Common Stock subject to the RSUs until such shares of Common Stock vest and are actually issued and registered in the Grantee’s name in the Company’s books and records.

		
	b.
	If the Company declares a cash dividend on its shares of Common Stock, on the payment date of the dividend, the Grantee shall be credited with dividend equivalents equal to the amount of such cash dividend per share of Common Stock multiplied by the number of shares of Common Stock subject to the RSUs. The dividend equivalents will be subject to the same terms regarding vesting and forfeiture as the RSUs and will be paid in cash at the times that the corresponding shares of Common Stock associated with the RSUs are delivered (or forfeited at the time that the RSUs are forfeited). The Grantee shall be responsible for any tax liability associated with any cash payments in accordance with Section 10 below.

		
	4.
	Automatic Forfeiture: The RSUs (including any RSUs that have vested but not yet been settled) will automatically be forfeited and all rights of the Grantee to the RSUs shall terminate under any of the following circumstances:

		
	a.
	The Grantee’s service with the Company as a Non-employee Director is terminated by the Company for Cause.

		
	b.
	The Committee requires recoupment of the RSUs in accordance with any recoupment policy adopted or amended by the Company from time to time.

		
	5.
	Transferability: The RSUs shall not be sold, transferred, assigned, pledged or otherwise encumbered or disposed.

		
	6.
	Vesting: The RSUs shall vest in full on April 28, 2018; provided that the Grantee continues to serve as a Non-Employee Director with the Company through such date. In the event the Grantee ceases to be a Non-Employee Director for any reason before April 28, 2018 other than as described in Sections 4 and 7, a number of the RSUs (rounded up to the nearest whole number) awarded to the Grantee shall become vested on a pro rata basis equal to the total number of RSUs granted on the Award Date, multiplied by a fraction the numerator of which is equal to the number of full months that have elapsed from the Award Date and the denominator of which is 12, and any remaining portion of the RSUs shall be forfeited and, the vested RSUs shall be settled as described in Section 9 below.

		
	7.
	Termination of Service: If, prior to the first anniversary of the Award Date, (i) the Grantee’s service with the Company is terminated by reason of death or Disability (as defined below), the RSUs shall become vested in full and settled as described in Section 9 below. For purposes of these Terms and Conditions “Disability” means permanently and totally disabled in accordance with Section 409A of the Internal Revenue Code.

		
	8.
	Change in Control: In the event of a Change in Control, Section 14 of the Plan shall control and Section 14 of the Plan shall supersede Sections 7 and 8 of these Terms and Conditions; provided, however, in the event that, following a Change in Control in which the RSUs are assumed, the Grantee’s service is terminated by reason of the Grantee’s death or Disability, the RSUs shall vest in full and be settled as provided in Section 9 of these Terms and Conditions.

		
	9.
	Settlement: Any RSUs not previously forfeited shall be settled by delivery of one share of Common Stock for each RSU being settled. The RSUs shall be settled as soon as practicable after the applicable vesting date (including without limitation for this purpose vesting upon the Grantee’s termination of service as provided in Section 7 and 8, but in no event later than 60 days after the applicable vesting date. Notwithstanding the foregoing, to the extent that the RSUs are subject to Section 409A of the Internal Revenue Code, all such payments shall be made in compliance with the requirements of Section 409A of the Internal Revenue Code, including application of the six month settlement delay for any specified employee (as defined in Section 409A of the Internal Revenue Code) in the event of vesting as a result of a separation from service (as defined in Section 409A of the Internal Revenue Code).

		
	10.
	Tax Withholding: The Grantee as a Non-Employee Director is solely responsible for the satisfaction of all taxes and penalties that may arise in connection with the RSUs, and as such the Company has no withholding obligation associated with the vested RSUs.

		
	11.
	No Right to Continued Service: The Grantee understands and agrees that these Terms and Conditions do not impact the right of the Company or any of its affiliates retaining the Grantee to terminate or change the terms of the Grantee’s service with the Company.

		
	12.
	Captions: Captions provided herein are for convenience only and are not to serve as a basis for interpretation or construction of these Terms and Conditions.

		
	13.
	Severability: In the event that any provision in these Terms and Conditions shall be held invalid or unenforceable for any reason, such provision shall be severable from, and such invalidity or unenforceability shall not be construed to have any effect on, the remaining provisions of these Terms and Conditions.

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