Document:

EX-10.3

 Exhibit 10.3 

EXECUTION VERSION 
 EMPLOYEE
MATTERS AGREEMENT 
 This EMPLOYEE MATTERS AGREEMENT (this “Agreement”) dated as of September 29, 2016, is by and
between AIR PRODUCTS AND CHEMICALS, INC., a Delaware corporation (“Air Products”) and VERSUM MATERIALS, INC. a Delaware corporation (“Versum”). “Party” or “Parties” means Air
Products or Versum, individually or collectively, as the case may be. 
 RECITALS: 

WHEREAS, the Board of Directors of Air Products (the “Air Products Board”) has determined that it is appropriate, desirable
and in the best interests of Air Products and its stockholders to separate the Versum Business from the other businesses conducted by Air Products and its Subsidiaries; 

WHEREAS, in order to effect such separation, the Air Products Board has determined that it is appropriate, desirable and in the best interests
of Air Products and its stockholders for Air Products to undertake the Internal Reorganization and, in connection therewith, effect the Contribution to Versum and that, in exchange therefor, Versum shall (i) issue to Air Products shares of
Versum common stock and certain Indebtedness issued by Versum in connection with the Versum Financing Arrangements and (ii) pay Air Products the Versum Financing Cash Distribution; 

WHEREAS, following the Contribution, Air Products will complete the Debt-for-Debt Exchange, and following completion of the Internal
Reorganization, the Debt-for-Debt Exchange and the Versum Financing Cash Distribution, Air Products will complete the Distribution; 

WHEREAS, the Separation Agreement sets forth the terms and conditions applicable to the Distribution; and 

WHEREAS, in furtherance of the foregoing, the Parties have entered into this Agreement, which is an Ancillary Agreement to the Separation
Agreement, to govern the rights and obligations of the Parties with respect to employment, compensation, employee benefits and related matters in connection with the Transactions, and to ratify actions previously taken in connection with the
Contribution, as set forth herein. 
 NOW, THEREFORE, in consideration of the foregoing and the covenants and agreements set forth below,
the parties hereto agree as follows: 
 ARTICLE I 

 SCOPE OF AGREEMENT; DEFINITIONS  

Capitalized terms used but not defined herein shall have the meaning ascribed to them in the Separation Agreement entered into between the
Parties, dated as of the date hereof (the “Separation Agreement”). For purposes of this Agreement, the terms set forth below shall have the following meanings: 

1.1 Air Products Deferred Compensation Program for Directors means the Air Products Deferred Compensation Program for Directors, as
amended from time to time, offered as a program under the Air Products Stock Plan. 
 1.2 Air Products Defined Benefit Retirement
Plans means the Air Products Pension Plan for Salaried Employees, the Pension Plan for Hourly-Rated Employees of Air Products and each other defined benefit pension plan maintained, sponsored, or contributed to by the Air Products Group. 

1.3 Air Products Employee means an employee other than a Versum Employee who, on the Employee Transfer Date, is either actively employed
by, or on leave of absence from, any member of the Air Products Group. 

 1.4 Air Products Flexible Benefits Plans means the Air Products Flexible Spending Account
Plan. 
 1.5 Air Products Group means Air Products, each other Subsidiary of Air Products involved in the Transactions and each other
Person that either (x) is controlled directly or indirectly by Air Products immediately after the Distribution or (y) becomes controlled by Air Products following the Distribution; provided, however, that neither Versum nor any other
member of Versum Group shall be members of the Air Products Group. 
 1.6 Air Products Post-Distribution Stock Price shall have the
meaning determined by the Management Development and Compensation Committee of the Air Products Board prior to the Separation Time for purposes of making the adjustments set forth in Article 11. 

1.7 Air Products Pre-Distribution Stock Price shall have the meaning determined by the Management Development and Compensation Committee
of the Air Products Board prior to the Separation Time for purposes of making the adjustments set forth in Article 11. 
 1.8 Air Products
Stock Plan means the Air Products Long-Term Incentive Plan, as amended from time to time, and any other plan, program or arrangement, pursuant to which employees and other service providers hold Options, Restricted Stock Units, Performance
Shares, Restricted Shares or other Air Products equity incentives. 
 1.9 COBRA means the continuation coverage requirements for
“group health plans” under Title X of the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended from time to time, and as codified in Code Section 4980B and ERISA Sections 601 through 608. 

1.10 DOL means the United States Department of Labor. 

1.11 Employee Transfer Date means the latest of (i) the Distribution Date, (ii) the date on which the relevant employee is
transferred to or accepts an offer of employment from a member of the Versum Group and (iii) the date on which the relevant employee’s employment automatically transfers to a member of the Versum Group pursuant to TUPE or other automatic
transfer regulation. 
 1.12 ERISA means the Employee Retirement Income Security Act of 1974, as amended from time to time. 

1.13 Final Determination means the final resolution of liability for any tax, which resolution may be for a specific issue or adjustment
or for a taxable period, (i) by IRS Form 870 or 870-AD (or any successor forms thereto), on the date of acceptance by or on behalf of the taxpayer, or by a comparable form under the laws of a state, local, or foreign taxing jurisdiction, except
that a Form 870 or 870-AD or comparable form shall not constitute a Final Determination to the extent that it reserves (whether by its terms or by operation of law) the right of the taxpayer to file a claim for refund or the right of the tax
authority to assert a further deficiency in respect of such issue or adjustment or for such taxable period (as the case may be); (ii) by a decision, judgment, decree, or other order by a court of competent jurisdiction, which has become final
and unappealable; or (iii) by a closing agreement or accepted offer in compromise under Sections 7121 or 7122 of the Internal Revenue Code, or a comparable agreement under the laws of a state, local, or foreign taxing jurisdiction. 

1.14 FMLA means the Family and Medical Leave Act of 1993, as amended from time to time. 

1.15 Former Versum Employee means any individual whose employment with Air Products and its Subsidiaries terminated prior to the
Employee Transfer Date and who was, immediately prior to such termination, primarily devoting his or her working time to the Versum Business. 

1.16 Fringe Benefits means, when immediately preceded by “Air Products,” the Air Products fringe benefits, plans, programs and
arrangements sponsored and maintained by Air Products and, when immediately preceded by “Versum,” any fringe benefits, plans, programs and arrangements to be established by Versum. 

  
 2 

 1.17 Health and Welfare Plans means, when immediately preceded by “Air
Products,” the Air Products Health Plans, the Air Products Flexible Benefits Plans, and the other health and welfare plans established and maintained by Air Products or a Subsidiary and, when immediately preceded by “Versum,” the
Versum Health Plans, the Versum Flexible Benefits Plans, and the other health and welfare plans to be established by Versum pursuant to Section 3.2. 

1.18 Health Plans means, when immediately preceded by “Air Products,” the group health plans and such other health plans or
programs, including medical, prescription drug, dental and vision plans and programs established and maintained by Air Products or a Subsidiary and, when immediately preceded by “Versum,” the group health plans and such other health plans
or programs, including medical, prescription drug, dental and vision plans and programs to be established by Versum pursuant to Section 3.2. 

1.19 Inactive Versum Employee means any Versum Employee who is not actively at work on the Employee Transfer Date because he or she is
on approved short-term disability or other approved leave (other than vacation, bereavement or sick leave). 
 1.20 Leave of Absence
Program means, when immediately preceded by “Air Products,” the personal, medical, military and FMLA leave and other leaves of absence required by applicable Law or offered from time to time under the personnel policies and practices
of Air Products and when immediately preceded by “Versum,” the leave of absence programs to be established by Versum pursuant to Section 3.2 that correspond to the respective Air Products Leave of Absence Program. 

1.21 Life Insurance Plan means, when immediately preceded by “Air Products,” the life insurance plan of Air Products, and when
immediately preceded by “Versum,” the life insurance plan to be established by Versum pursuant to Section 3.2 that corresponds to the respective Air Products Life Insurance Plan. 

1.22 Long-Term Disability Plan means, when immediately preceded by “Air Products,” the Air Products Long-Term Disability Plan
and when immediately preceded by “Versum,” the long-term disability plan to be established by Versum pursuant to Section 3.2. 

1.23 Nonqualified Plans means, when immediately preceded by “Air Products,” the Air Products Deferred Compensation Plan and
the Supplementary Pension Plan of Air Products, each as may be amended from time to time, and, when immediately preceded by “Versum,” the Versum Deferred Compensation Plan to be established by Versum pursuant to Sections 3.2 and 7.1. 

1.24 Option, when immediately preceded by “Air Products,” means an option to purchase Air Products common stock pursuant to
the Air Products Stock Plan, and when immediately preceded by “Versum,” means an option to purchase shares of Versum common stock, which Option is granted pursuant to the Versum Stock Plan as set forth in Section 11.2. 

1.25 Participating Company means, with respect to any Plan: (i) any Person (other than an individual) that Air Products has
approved for participation in, has accepted participation in, and which is participating in, a Plan sponsored by Air Products; or (ii) any Person (other than an individual) which, by the terms of such Plan, participates in such Plan or any
employees of which, by the terms of such Plan, participate in or are covered by such Plan. 
 1.26 Performance Share means, when
immediately preceded by “Air Products,” a contractual right to receive shares of Air Products common stock or the cash value thereof, which right is subject to transfer restrictions or to employment and/or performance vesting conditions,
issued pursuant to the Air Products Stock Plan, and when immediately preceded by “Versum 2014,” “Versum 2015” or “Versum 2016,” means a contractual right to receive shares of Versum common stock or the cash value
thereof, which right is subject to transfer restrictions or to employment and/or performance vesting conditions and is issued pursuant to the Versum Stock Plan as set forth in Section 11.4. 

  
 3 

 1.27 Plan means any written or unwritten plan, policy, program, payroll practice,
arrangement, contract, trust, insurance policy, or any agreement or funding vehicle providing compensation or benefits to employees, former employees or directors of a member of the Air Products Group or Versum Group; when immediately preceded by
“Air Products,” the Air Products Plans and when immediately preceded by “Versum,” the plans to be established by Versum. 

1.28 Plan Transition Date means the latest of (i) the Distribution Date, (ii) such date as agreed upon by the Parties and
(iii) with respect to an individual Versum Employee, the Employee Transfer Date. 
 1.29 QDRO means a domestic relations order
which qualifies under Section 414(p) of the Code and ERISA Section 206(d) and which creates or recognizes an alternate payee’s right to, or assigns to an alternate payee, all or a portion of the benefits payable to a participant under
a plan qualified under Section 401(a) of the Code. 
 1.30 QMCSO means a medical child support order which qualifies under ERISA
Section 609(a) and which creates or recognizes the existence of an alternate recipient’s right to, or assigns to an alternate recipient the right to, receive benefits for which a participant or beneficiary is eligible under any of the
Health Plans. 
 1.31 Restricted Share means a share of Air Products common stock that possess voting and dividend rights but is
subject to transfer restrictions or to employment and/or performance vesting conditions, issued pursuant to the Air Products Stock Plan. 

1.32 Restricted Stock Unit means, when immediately preceded by “Air Products,” a contractual right to receive shares of Air
Products common stock or the cash value thereof, which right is subject to transfer restrictions or to employment vesting conditions, issued pursuant to the Air Products Stock Plan, and when immediately preceded by “Versum,” means a
contractual right to receive shares of Versum common stock or the cash value thereof, which right is subject to transfer restrictions or to employment vesting conditions and is granted pursuant to the Versum Stock Plan as set forth in
Section 11.3. 
 1.33 Retiree Programs means the Air Products Medical Plan. 

1.34 Retirement Eligible Versum Employee means those Versum Employees who are treated as separating from service with Air Products on
the Distribution Date on or after reaching (i) the customary retirement age for such employee’s location (with a fully vested right to begin receiving immediate benefits under an employer sponsored retirement plan) or (ii) in the
absence of an employer sponsored plan for such employee’s location, the customary retirement age under the applicable statutory plan. Retirement Eligible Versum Employees are set forth on Schedule 1.34. 

1.35 Savings Plans means, when immediately preceded by “Air Products,” the Air Products Retirement Savings Plan and the Air
Products 401(k) Plan, each a defined contribution plan, and when immediately preceded by “Versum,” means the defined contribution plan funded by a trust that is qualified under Code Section 401(a) and exempt from taxation under Code
Section 501(a), to be established by Versum pursuant to Section 3.2 and Article 6. 
 1.36 Separation Agreement has the
meaning set forth in the recitals. 
 1.37 Short-Term Disability Plan means, when immediately preceded by “Air Products,”
the Air Products Salary Continuation policy (or, where an employee works in a state that offers a statutory state short-term disability plan, then “Short-Term Disability Plan” refers to the alternative voluntary state disability plan
offered under the Short-Term Disability Plan) and when immediately preceded by “Versum,” means the short-term disability plan to be established by Versum pursuant to Section 3.2. 

1.38 Transitional Employee means those Versum Employees set forth on Schedule 1.38. 

1.39 TUPE means in any relevant European jurisdiction the relevant statutory provision or law which implements the EU Acquired Rights
Directive (No. 77/187). 

  
 4 

 1.40 Versum Deferred Compensation Plan shall have the meaning set forth in Subsection
7.1(b)(ii). 
 1.41 Versum Defined Benefit Retirement Plans shall have the meaning set forth in Section 5.1(c). 

1.42 Versum Employee means (i) any individual who is employed by a member of the Versum Group immediately prior to the Separation
Time (including any individual who becomes employed by a member of the Versum Group prior to the Separation Time as a result of such individual’s transfer to or acceptance of an offer of employment from a member of the Versum Group or the
automatic transfer of such individual’s employment to a member of the Versum Group pursuant to TUPE or other automatic transfer regulation), (ii) any individual who automatically becomes employed by a member of the Versum Group as a result
of TUPE or other automatic transfer regulation simultaneously with the Separation Time and (iii) any individual who accepts an offer of employment from a member of the Versum Group as of the applicable Employee Transfer Date. 

1.43 Versum Flexible Benefits Plans means the Versum Flexible Spending Account Plan to be established by Versum pursuant to
Section 3.2. 
 1.44 Versum Group means Versum, each other Subsidiary of Versum and each other Person that either (i) is
controlled directly or indirectly by Versum immediately after the Distribution or (ii) becomes controlled by Versum following the Distribution. 

1.45 Versum Stock Plan means the Versum Materials, Inc. Long-Term Incentive Plan adopted by Versum prior to the Separation Time. 

1.46 Versum Stock Price shall have the meaning determined by the Management Development and Compensation Committee of the Air Products
Board prior to the Separation Time for purposes of making the adjustments set forth in Article 11. 
 1.47 Versum WC Claims shall have
the meaning set forth in Subsection 8.6(b)(i). 
 ARTICLE II 

 GLOBAL PROVISION; GENERAL ALLOCATION OF LIABILITIES 

2.1 In General. All provisions herein shall be subject to the requirements of all applicable Law and any collective bargaining, works
council or similar agreement or arrangement with any labor union. In the event that any provision herein sets forth the treatment of a plan and no Versum Employees in a particular jurisdiction participate in such plan, such provision shall not apply
with respect to such jurisdiction. 
 2.2 Employee Liabilities. On the applicable Employee Transfer Date, Versum or another member of
the Versum Group shall assume and thereafter shall pay, perform, fulfill, and discharge, except as expressly provided in this Agreement (including, without limitation, Section 2.3), (i) all employment or service-related Liabilities with
respect to all Versum Employees (and their dependents and beneficiaries) accrued and arising before, on and after the applicable Employee Transfer Date, (ii) any Liabilities expressly transferred to Versum or a Versum Group member under this
Agreement or the Transition Services Agreement and (iii) any Liabilities reflected in the financial statements of the Versum Group. On the applicable Employee Transfer Date, Air Products or another member of the Air Products Group shall assume
and thereafter shall pay, perform, fulfill, and discharge, except as expressly provided in this Agreement, (i) all employment or service-related Liabilities with respect to all Air Products Employees and Former Versum Employees (and their
dependents and beneficiaries) accrued and arising before, on and after the applicable Employee Transfer Date, and (ii) any Liabilities expressly retained by Air Products or an Air Products Group member under this Agreement or the Transition
Services Agreement. Air Products shall indemnify Versum for any Liabilities assumed by Versum or another member of the Versum Group pursuant to this Section 2.2 with respect to any Transitional Employees (and their respective dependents and
beneficiaries). 

  
 5 

 2.3 Plan Liabilities. Air Products and Versum intend that Air Products and/or the
applicable Air Products Plan shall retain and be responsible for any Liabilities incurred with respect to Versum Employees under all Air Products Plans prior to the applicable Plan Transition Date, except (i) as set forth in Article V or VI of
this Agreement, (ii) where such Liability is reflected in the financial statements of the Versum Group and (iii) as set forth on Schedule 2.3. An allocation of Versum costs incurred prior to the Plan Transition Date (calculated as set
forth in the Transition Services Agreement) shall be charged back to Versum. 
 ARTICLE III 

 GENERAL PLAN MATTERS 

3.1 Air Products Plans. 

(a) Employee Participation. Effective as of the applicable Plan Transition Date, all Versum Employees shall cease participating in any
Air Products Plans and shall cease accruing benefits in respect of such plans. 
 (b) Versum Participation in Air Products Plans.
Until the applicable Plan Transition Date, Versum shall continue to be a Participating Company in the Air Products Health and Welfare Plans, the Air Products Savings Plans, the Air Products Fringe Benefits, the Air Products Life Insurance Plan, the
Air Products Long-Term Disability Plan and such other Air Products Plans in which Versum Employees participate, subject to the terms and conditions provided herein and in such Plans. 

(c) Air Products’ General Obligations as Plan Sponsor. Air Products shall continue to administer, or cause to be administered, the
Air Products Plans, and shall have the sole and absolute discretion and authority to interpret the Air Products Plans, as set forth therein, subject to the specific arrangements provided in this Agreement. Air Products shall administer all claims
incurred under the Air Products Plans. Any determination made or settlements entered into by Air Products with respect to such claims shall be final and binding. 

(d) Versum’s General Obligations as Participating Company. With respect to any Air Products Plan that provides benefits to a Versum
Employee, whether by virtue of Section 3.1(b) above or by virtue of such Versum Employee having accrued benefits in any Air Products Plan while an employee of the Air Products Group, Versum will cooperate, before and after the Plan Transition
Date, with Air Products on a timely basis with respect to such Plans, and Versum shall comply with the terms as set forth in such Plans or any procedures adopted pursuant thereto, including (without limitation): (i) assisting in the
administration of claims, to the extent requested by the claims administrator of such Air Products Plan; (ii) cooperating fully with Air Products Plan auditors; (iii) the provision of payroll processing support; (iv) the qualification
and administration of QDROs; (v) preserving the confidentiality of all financial arrangements Air Products has or may have with any entity or individual with whom Air Products has entered into an agreement relating to such Air Products Plan;
and (vi) preserving the confidentiality of participant information to the extent not specified otherwise in this Agreement. In addition, Versum shall provide, or cause to be provided, all participant information that is necessary or appropriate
for the efficient and accurate administration of each Air Products Plan or program that provides or has provided benefits to a Versum Employee during the period applicable to such Plan (including, without limitation, information related to the
employment status of Versum Employees required to administer the Air Products Nonqualified Plans). Air Products and its respective authorized agents shall, subject to applicable laws of confidentiality and data protection, be given reasonable and
timely access to, and may make copies of, all information relating to the subjects of this Agreement in the custody of the other party or its agents, to the extent necessary or appropriate for the administration of such Plans or programs. 

(e) Reporting and Disclosing Communications to Participants. While Versum is a Participating Company in any of the Air Products Plans
(which, for the avoidance of doubt, shall not include, expressly or by implication, participation in any of the Air Products Defined Benefit Retirements Plans subject to UK laws), Air Products shall take, or cause to be taken, all actions necessary
or appropriate to facilitate the distribution of all Air Products Plan-related communications and materials to participating Versum Employees and their beneficiaries, including (without limitation) notices and enrollment material for the Air
Products Plans. To the extent that Air Products fails to take such action which results in the failure of a distribution of required disclosure materials in 

  
 6 

 
connection with an Air Products Plan which results in any Liability to Versum, Air Products shall indemnify Versum for such Liability. Versum shall provide all information needed by Air Products
to facilitate such Air Products Plan-related communications. Versum shall take, or cause to be taken, all actions necessary or appropriate to facilitate the distribution of all Air Products Plan-related communications and materials to participating
Versum Employees and their beneficiaries. To the extent that Versum fails to take such action which results in the failure of a distribution of required disclosure materials in connection with an Air Products Plan which results in any Liability to
Air Products, Versum shall indemnify Air Products for such Liability. 
 (f) Air Products Under No Obligation to Maintain Plans.
Nothing in this Agreement shall preclude Air Products, at any time, from amending, merging, modifying, terminating, eliminating, reducing, or otherwise altering in any respect any Air Products Plan, any benefit under any Air Products Plan or any
trust, insurance policy or funding vehicle related to any Air Products Plan. To the extent that any such amendment, modification, termination or elimination of an Air Products Plan results in any Liability to Versum, Air Products shall indemnify
Versum for such Liability. 
 3.2 Versum Plans. 

(a) Establishment of Versum Plans. Effective as of the applicable Plan Transition Date, the Parties shall cause Versum to cease being a
Participating Company in the Air Products Plans (which, for the avoidance of doubt, shall not include, expressly or by implication, participation in any of the Air Products Defined Benefit Retirement Plans subject to UK laws) and Versum, or another
member of Versum Group, shall adopt the Versum Health and Welfare Plans, the Versum Savings Plan, the Versum Fringe Benefits, the Versum Life Insurance Plan, the Versum Long-Term Disability Plan, the Versum Short-Term Disability Plan, the Versum
Nonqualified Plan and such other Versum Plans as may be determined to be appropriate by the Parties. 
 (b) Cooperation in Establishment
of Versum Plans. Prior to the applicable Plan Transition Date, Air Products and Versum shall cooperate to establish the Versum Plans and the related insurance contracts, third party service provider agreements and other related agreements and
arrangements. 
 (c) Versum Under No Obligation to Maintain Plans. Nothing in this Agreement shall preclude Versum from amending,
merging, modifying, terminating, eliminating, reducing, or otherwise altering in any respect any Versum Plan, any benefit under any Versum Plan or any trust, insurance policy or funding vehicle related to any Versum Plan. To the extent that any such
amendment, modification, termination or elimination of a Versum Plan results in any Liability to any member of the Air Products Group, Versum shall indemnify such Air Products Group member for such Liability. 

(d) Transfers of Plan Assets. Except as otherwise specified in Articles V and VI, nothing in this Agreement shall require Air Products
to transfer any Assets of any member of the Air Products Group or any Air Products Plan. 
 3.3 Terms of Participation by Versum Employees
in Versum Plans. 
 (a) Non-Duplication of Benefits. The Versum Plans shall be, with respect to Versum Employees, in all respects
the successors in interest to, and shall not provide benefits that duplicate benefits provided by, the corresponding Air Products Plans. Air Products and Versum shall agree on methods and procedures, including amending the respective Plan documents,
to prevent Versum Employees from receiving duplicate benefits from the Air Products Plans and Versum Plans. 
 (b) Service Credit.
Versum shall credit service accrued by Versum Employees with, or otherwise recognized for purposes of benefit plans, programs, policies or arrangements by, Air Products as of the applicable Plan Transition Date under Versum Group severance programs,
vacation programs, Versum Defined Benefit Retirement Plans maintained outside of the United States, and as otherwise required by Law. 

  
 7 

 ARTICLE IV 

EMPLOYMENT MATTERS FOR TRANSFERRED EMPLOYEES  

4.1 Liabilities Related to Transfers of Employment. 

(a) No Acceleration of Entitlements; No Severance. Except as otherwise required by applicable Law in any jurisdiction, no provision of
this Agreement, the Separation Agreement, or any Ancillary Agreement shall be construed to create any right, or accelerate entitlement, to any compensation or benefit whatsoever on the part of any Versum Employee or other future, present or former
employee of Air Products or Versum under any Air Products Plan or Versum Plan, applicable Law or otherwise. 
 (b) Assumption of
Liability. Air Products shall retain and be solely responsible for the administration of severance, indemnity or other termination pay or other similar benefits in accordance with the terms and conditions of the applicable Air Products severance
plan or policy in effect as of the date of the applicable termination of employment (“Severance Liabilities”) (i) relating to or resulting from Versum Group’s failure to offer employment to any Versum Employee or any
employee set forth on Schedule 4.1(b) (or failure to continue the employment of any Versum Employee prior to the Plan Transition Date) or failure to offer or continue employment on terms and conditions which would preclude any claims of constructive
dismissal or similar claims under any applicable Law or other failure to comply with the terms of this Agreement prior to the Plan Transition Date or (ii) where such severance, indemnity or termination pay or other benefits are required to be
paid under applicable Law or an Air Products Plan upon the Employee Transfer Date without regard to such terms and conditions or such continuation of employment. To the extent that any such Severance Liabilities are incurred by any member of the Air
Products Group, Versum shall indemnify such Air Products Group member for such Liability. 
 4.2 Assumption of Employment Agreements;
Certain Other Terms of Employment. As of the applicable Employee Transfer Date, and except as set forth on Schedule 4.2, Versum or another member of Versum Group shall have used reasonable efforts to assume, whether by agreement or, if
applicable, mandatory law, all employment agreements and other individual agreements entered into between a Versum Employee and a member of the Air Products Group (except where a Versum Employee has entered into an agreement with the Versum Group
superseding agreements in effect prior to the Employee Transfer Date), and Versum shall indemnify and hold harmless Air Products and each member of the Air Products Group against any Liabilities pursuant to any such agreement. Each Versum Employee
shall be required at the request of Versum to execute a new agreement regarding confidential information and proprietary developments in a form approved by Versum. In addition, nothing in the Separation Agreement, this Agreement or any Ancillary
Agreement should be construed to change the at-will status of any of the employees of the Air Products Group or Versum Group. For the avoidance of doubt, nothing in this Agreement is intended to create an “at-will” employment status in
respect of any of the employees of the Air Products Group where such “at-will” status does not already apply during their employment within the Air Products Group. 

4.3 Consultation with Unions; Collective Bargaining Agreements. The Parties shall cooperate to inform and consult with any union
representatives to the extent required by Law or an applicable collective bargaining, works council or similar agreement or arrangement with any labor union or works council or which covers Versum Employees as of the Separation Time. As of the
Separation Time, Versum, or another member of Versum Group, shall have assumed any collective bargaining agreements, works council or similar agreement or arrangement in effect as of the Separation Time with respect to any Versum Employee, and
Versum shall indemnify and hold harmless Air Products and each member of the Air Products Group against any Liabilities pursuant to any such agreement. 

4.4 Employees with Work Visas or Permits; License to Do Business. Notwithstanding anything to the contrary in Section 4.1, Versum
Employees who, at the Separation Time, are employed pursuant to a work or training visa or permit which authorizes employment only by a member of the Air Products Group shall, to the extent required by applicable Law, remain employed by such member
of the Air Products Group (providing services to Versum by secondment agreement to be entered into between the Parties) until the visa or permit is amended or a new visa or permit is granted to authorize employment by a member of Versum Group. At
the time such amended or new visa is issued, such Versum Employees shall become Versum Employees. 

  
 8 

 4.5 Tax Equalization. Notwithstanding anything to the contrary in Section 4.1, with
respect to any Versum Employee entitled to receive tax equalization benefits under a tax equalization program in connection with any assignment outside such employee’s home country, Air Products shall be solely responsible for or receive the
benefits of any taxes payable or amounts refunded prior to the Separation Time with respect to such employee pursuant to such tax equalization program, and Versum or another member of Versum Group shall assume responsibility for or receive the
benefits of any taxes payable or amounts refunded following the Separation Time with respect to such employee pursuant to such tax equalization program. 

4.6 Warn Act and Other Notices. Versum shall provide any required notice under the Worker Adjustment and Retraining Notification Act
(“WARN”) and any similar foreign, state, local or other applicable Law and otherwise to comply with any such requirement with respect to any “plant closing” or “mass layoff” (as defined in WARN) or similar event
occurring on or after the Separation Time and affecting Versum Employees. Versum shall indemnify and hold harmless the members of the Air Products Group against any such Liabilities relating to WARN and any similar state or other applicable Law with
respect to the Distribution and any events occurring on or after the Separation Time. 
 ARTICLE V 

DEFINED BENEFIT PLANS 

5.1 Defined Benefit Plans Generally. 

(a) Participation. From and after the Plan Transition Date, no Versum Employee shall accrue any additional benefits under the Air
Products Defined Benefit Retirement Plans. 
 (b) Assumption of Liabilities. Except as set forth on Schedule 5.1(b) or as required by
applicable Law, no member of the Versum Group shall assume any Liability with respect to the Air Products Defined Benefit Retirement Plans; provided, however, that, to the extent that (i) any act or omission of Versum directly results in the
inability of Air Products to administer the Air Products Defined Benefit Retirement Plans in compliance with the respective plan terms with respect to any Versum Employee who participated under the Air Products Defined Benefit Retirement Plans and
(ii) any related Liability is imposed on any member of the Air Products Group, Versum shall indemnify such Air Products Group member for such Liability. To the extent that (i) any act or omission of Air Products directly results in the
inability of Air Products to administer the Air Products Defined Benefit Retirement Plans in compliance with the respective plan terms with respect to any Versum Employee who participated under the Air Products Defined Benefit Retirement Plans and
(ii) any related Liability is imposed on any member of Versum Group, Air Products shall indemnify such Versum Group member for such Liability. 

(c) Versum Defined Benefit Retirement Plans. Versum shall establish a defined benefit retirement plan in each jurisdiction set forth on
Schedule 5.1(c) or as required by applicable Law (the “Versum Defined Benefit Retirement Plans”), effective as of the Plan Transition Date. Versum shall be responsible for taking all necessary, reasonable and appropriate action to
establish, maintain and administer the Versum Defined Benefit Retirement Plans so that they comply with applicable laws. Upon the Employee Transfer Date, Versum Employees who participated in the corresponding Air Products Defined Benefit Retirement
Plans as of the Employee Transfer Date in the countries set forth on Schedule 5.1(c) or as required by applicable Law shall be eligible to commence participation in the Versum Defined Benefit Retirement Plans. Any minimum age or service requirements
contained in the Versum Defined Benefit Retirement Plans with respect to eligibility to participate generally or eligibility to share in any employer contributions under such plan shall be waived or deemed satisfied for Versum Employees to the
extent waived or satisfied under the Air Products Defined Benefit Retirement Plans immediately prior to the Employee Transfer Date. 
 (d)
Transfer of Air Products Defined Benefit Retirement Plans Assets. Not later than thirty (30) days following the Plan Transition Date (or such later time as mutually agreed by the Parties), Air Products shall cause the accounts in the Air
Products Defined Benefit Retirement Plans set forth on Schedule 5.1(d) attributable, in each case, to Versum Employees in the countries set forth on Schedule 5.1(d) as of the Plan Transition Date and all of the Assets in the Air Products Defined
Benefit Retirement Plans related thereto to be transferred in-kind to the 

  
 9 

 
Versum Defined Benefit Retirement Plans, and Versum shall cause the Versum Defined Benefit Retirement Plans to accept such transfer of accounts and underlying Assets and, effective as of the date
of such transfer, to assume and to fully perform, pay and discharge, all obligations of the Air Products Defined Benefit Retirement Plans relating to the accounts of Versum Employees (to the extent the Assets related to those accounts are actually
transferred from the Air Products Defined Benefit Retirement Plans to the Versum Defined Benefit Retirement Plans). 
 5.2 Vesting.
Air Products or another member of the Air Products Group shall amend the Air Products Defined Benefit Retirement Plans to provide that Versum Employees shall be vested in their accrued benefits under the Air Products Defined Benefit Retirement Plans
as of the Employee Transfer Date. 
 ARTICLE VI 

 DEFINED CONTRIBUTION PLANS 

6.1 United States Defined Contribution Plan. 

(a) Air Products Savings Plans. Air Products or another member of the Air Products Group shall amend (or cause to be amended) the Air
Products Savings Plans to provide that: (i) Versum Employees shall be 100% vested in their account balances under the Air Products Savings Plans as of the Plan Transition Date; and (ii) effective as of the Plan Transition Date, Versum
Employees shall cease participation in, and no longer be eligible for employer contributions under, the Air Products Savings Plans, except that any employer contributions with respect to benefits earned for services rendered prior to the Plan
Transition Date that have not been deposited and allocated to the Air Product Savings Plan accounts of Versum Employees as of the Plan Transition Date shall be deposited and allocated to such accounts as soon as reasonably practicable following the
Plan Transition Date. 
 (b) Versum Savings Plan. Versum shall establish a qualified defined contribution plan (the “Versum
Savings Plan”), effective as of the Plan Transition Date. Versum shall be responsible for taking all necessary, reasonable and appropriate actions to establish, maintain and administer the Versum Savings Plan so that it is qualified under
Section 401(a) of the Code and that the related trust thereunder is exempt from tax under Section 501(a) of the Code, and as soon as reasonably practicable following the Plan Transition Date, Versum shall take all steps reasonably
necessary to obtain a favorable determination or opinion from the IRS as to such qualification. Effective as of the Plan Transition Date, Versum Employees shall be eligible to commence participation in the Versum Savings Plan. Except as provided on
Schedule 6.1(b), Versum shall cause the Versum Savings Plan to credit prior service accrued with Air Products or a member of the Air Products Group prior to the Plan Transition Date for purposes of satisfying any minimum service requirements
contained in the Versum Savings Plan with respect to eligibility to participate generally, eligibility to share in any employer contributions and vesting under such plan with respect to Versum Employees. 

(c) Transfer of Air Products Savings Plan Assets. Not later than thirty (30) days following the Plan Transition Date (or such later
time as mutually agreed by the Parties), Air Products shall cause the accounts (including any outstanding participant loan balances) in the Air Products Savings Plans attributable, in each case, to Versum Employees as of the Plan Transition Date and
all of the Assets in the Air Products Savings Plans related thereto (including any outstanding loans) to be transferred in-kind to the Versum Savings Plan, and Versum shall cause the Versum Savings Plan to accept such transfer of accounts and
underlying such Assets and, effective as of the date of such transfer, to assume and to fully perform, pay and discharge, all obligations of the Air Products Savings Plans relating to the accounts of Versum Employees (to the extent the Assets
related to those accounts are actually transferred from the Air Products Savings Plans to the Versum Savings Plan). The transfer of Assets shall be conducted in accordance with Section 414(1) of the Code, Treasury Regulation
Section 1.414(1)-1 and Section 208 of ERISA. During the period after the Plan Transition Date and before such transfer of Assets has been completed, with respect to any Versum Employee who has an outstanding participant loan balance under
the Air Products Savings Plans, Versum shall withhold, or cause to be withheld, from each such Versum Employee’s pay such amounts as are required to make payments on such outstanding loan in accordance with its terms and timely remitted such
amounts, as directed by the administrator of the Air Products Savings Plans, for crediting under the Air Products Savings Plans in respect of such loan, and Air Products shall cause such administrator to apply such amounts in satisfaction of such
loan. 
 (d) Form 5310-A. No later than thirty (30) days prior to the Plan Transition Date, Air Products and Versum shall, to the
extent necessary, cooperate to file, or cause to be filed, IRS Form 5310-A regarding the transfer of Assets and Liabilities from the Air Products Savings Plans to the Versum Savings Plan as provided in this Article 6. 

  
 10 

 (e) Employer Securities. Air Products and Versum each presently intend to preserve the
right, for a period of time, of Versum Employees and Air Products Employees to receive distributions in kind from, respectively, the Versum Savings Plan and the Air Products Savings Plans, if, and to the extent, investments under such plans are
comprised of Versum common stock or Air Products common stock. Each of Versum and Air Products shall determine the extent to which and when Air Products common stock (in the case of the Versum Savings Plan) and Versum common stock (in the case of
the Air Products Savings Plans) shall cease to be investment alternatives thereunder. 
 6.2 Defined Contribution Plans Outside of the
United States. 
 (a) Versum Non-US Savings Plan. Versum shall establish defined contribution plans for the benefit of Versum
Employees primarily providing services outside of the United States in each of the jurisdictions set forth on Schedule 6.2(a) (the “Versum Non-US Savings Plans”), effective as of the Plan Transition Date. Versum shall be responsible
for taking all necessary, reasonable and appropriate action to establish, maintain and administer each Versum Non-US Savings Plan so that it complies with local laws. Upon the Plan Transition Date, Versum Employees primarily providing services
outside of the United States shall be eligible to commence participation in the Versum Non-US Savings Plan. Any minimum age or service requirements contained in the Versum Non-US Savings Plan with respect to eligibility to participate generally or
eligibility to share in any employer contributions under such plan shall be waived or deemed satisfied for participating Versum Employees to the extent waived or satisfied under the applicable Air Products defined contribution plan (the “Air
Products Non-US Savings Plans”) immediately prior to the Plan Transition Date. 
 (b) Transfer of Air Products Non-US Savings
Plan Assets. Not later than thirty (30) days following the Plan Transition Date (or such later time as mutually agreed by the Parties), Air Products shall cause the accounts in the Air Products Non-US Savings Plans set forth on Schedule
6.2(b) attributable, in each case, to Versum Employees primarily providing services outside of the United States as of the Plan Transition Date and all of the Assets in the Air Products Non-US Savings Plans related thereto to be transferred in-kind
to the Versum Non-US Savings Plans, and Versum shall cause the Versum Non-US Savings Plans to accept such transfer of accounts and underlying Assets and, effective as of the date of such transfer, to assume and to fully perform, pay and discharge,
all obligations of the Air Products Non-US Savings Plans relating to the accounts of participating Versum Employees (to the extent the Assets related to those accounts are actually transferred from the Air Products Non-US Savings Plans to the Versum
Non-US Savings Plans). 
 ARTICLE VII 

NON-QUALIFIED PLANS 
 7.1
Air Products Nonqualified Plans. 
 (a) In General. Except as set forth in Section 7.1(b), no member of the Versum Group
shall assume any Liability with respect to any Air Products Nonqualified Plan. The treatment of benefits under any Nonqualified Plan shall comply with Section 409A of the Code, to the extent subject thereto, and shall be paid in accordance with
such plan. 
 (b) Deferred Compensation Plan and Supplementary Pension Plan. 

(i) Air Products or another member of the Air Products Group shall amend the Air Products Deferred Compensation Plan and the Supplementary
Pension Plan of Air Products to provide that Versum Employees shall be 100% vested in their account balances under the Air Products Deferred Compensation Plan and the Supplementary Pension Plan of Air Products as of the Plan Transition Date.
Effective as of the Plan Transition Date, Versum Employees shall not be eligible to continue actively participating in the Supplementary Pension Plan of Air Products. 

(ii) Effective as of the Plan Transitions Date, (i) Versum shall adopt a deferred compensation plan to benefit eligible Versum Employees
who were participants in, or were eligible to accrue benefits under, the Air Products Deferred Compensation Plan (the “Versum Deferred Compensation Plan”) and (ii) Versum Employees shall not be eligible to continue actively
participating in the Air Products Deferred 

  
 11 

 
Compensation Plan. Air Products shall cause the Air Products Deferred Compensation Plan to recognize and maintain all deferral elections with respect to Versum Employees who participate in the
Air Products Deferred Compensation Plan prior to the Plan Transition Date. 
 (iii) No Versum Group member shall assume any Liability
allocable to Versum Employees under the Air Products Deferred Compensation Plan or the Supplementary Pension Plan; provided, however, that, to the extent that (i) any act or omission of Versum directly results in the inability of Air Products
to administer the Air Products Deferred Compensation Plan or the Supplementary Pension Plan in compliance with Section 409A of the Code or any other Law or regulation and the terms of the respective Plan with respect to any Versum Employee who
participated under the Air Products Deferred Compensation Plan or the Supplementary Pension Plan and (ii) any related Liability is imposed on any member of the Air Products Group, Versum shall indemnify such Air Products Group member for such
Liability. To the extent that (i) any act or omission of Air Products directly results in the inability of Air Products to administer the Air Products Deferred Compensation Plan or the Supplementary Pension Plan in compliance with
Section 409A of the Code or any other Law or regulation and the terms of the respective Plan with respect to any Versum Employee who participated under the Air Products Deferred Compensation Plan or the Supplementary Pension Plan and
(ii) any related Liability is imposed on any member of Versum Group, Air Products shall indemnify such Versum Group member for such Liability. 

ARTICLE VIII 
  HEALTH AND
WELFARE PLANS 
 8.1 Allocation of Life Insurance Liabilities. Each Air Products Life Insurance Plan shall retain all Liabilities
with respect to covered life insurance claims incurred prior to the Plan Transition Date by Versum Employees and their dependents. The applicable Versum Life Insurance Plan shall be responsible for all Liabilities with respect to life insurance
claims incurred after the Plan Transition Date by Versum Employees and their dependents, it being understood that the provisions of this Section 8.1 shall not require any member of Versum Group to maintain a plan providing life insurance
benefits (except to the extent required by law). For these purposes, a claim shall be deemed to have occurred on the date of the death of the insured person. 

8.2 Health and Welfare Plan Liabilities. The Air Products Health and Welfare Plans shall retain all Liabilities with respect to covered
claims incurred prior to the Plan Transition Date by Versum Employees and their dependents. The Versum Health and Welfare Plans shall assume all Liabilities with respect to covered claims incurred on or after the Plan Transition Date by all Versum
Employees and their dependents. For these purposes, a claim shall be deemed to have occurred at the time professional services, equipment or prescription drugs covered by the applicable plan are obtained by the insured person. 

8.3 Coverage and Contribution Elections. As of the Plan Transition Date, Versum shall cause Versum Health and Welfare Plans to recognize
and maintain all coverage and contribution elections made by Versum Employees under the corresponding Air Products Health and Welfare Plans and apply such elections under the Versum Health and Welfare Plans for the remainder of the period or periods
for which such elections are by their terms applicable. All waiting periods and pre-existing condition exclusions and actively-at-work requirements shall be waived with respect to Versum Employees who were not subject to any such waiting periods,
exclusions or requirements under the corresponding Air Products Health and Welfare Plan in which such employees participate immediately prior to the Plan Transition Date. For the avoidance of doubt, nothing herein shall prevent Versum from
conducting open enrollment and accepting elections under the Versum Health and Welfare Plans during any open enrollment period occurring after the Plan Transition Date. 

8.4 COBRA. The Air Products Group shall be responsible for compliance with the health care continuation coverage requirements of COBRA
and the Air Products Health and Welfare Plans with respect to Former Versum Employees and qualified beneficiaries (as such term is defined under COBRA) who become eligible and elect to receive continuation health care coverage prior to the Plan
Transition Date. Versum or another member of Versum Group shall provide Air Products with all necessary employee change notices and related information for covered dependents, spouses, qualified beneficiaries, and alternate recipients pursuant to
any QMCSOs, in accordance with applicable Air Products COBRA policies and procedures. Effective as of the Plan Transition Date, the Versum Group shall be solely responsible for compliance with the health care continuation coverage requirements of
COBRA under the Versum Health and Welfare Plans for Versum Employees and their qualified beneficiaries who become eligible or elect to receive continuation health care coverage on or following the Plan Transition Date. 

  
 12 

 8.5 Leave of Absence Programs and FMLA. Effective as of the Plan Transition Date,
(i) the Versum Group shall honor all terms and conditions of leaves of absence that have been granted by Air Products to any Versum Employee under an Air Products Leave of Absence Program or FMLA or other applicable Law regarding leave of
absence before the Plan Transition Date, including such leaves that are to commence after the Plan Transition Date; (ii) the Versum Group shall be solely responsible for administering any such leave of absence and complying with FMLA and other
applicable laws regarding leave of absence with respect to Versum Employees; and (iii) the Versum Group shall recognize all periods of service of Versum Employees with the members or the Air Products Group, as applicable, to the extent such
service is recognized by the members of the Air Products Group for the purpose of eligibility for leave entitlement under the Air Products Leave of Absence Programs and FMLA and other applicable Laws; provided, however, that no duplication of
benefits shall be required by the foregoing. 
 8.6 Air Products Workers’ Compensation Program. 

(a) Assumption of Liabilities. Versum shall procure workers’ compensation insurance policies on behalf of Versum Employees, to be
effective as of the Plan Transition Date. Versum or another member of the Versum Group shall assume all Liabilities with respect to workers’ compensation claims made before, on or after the Plan Transition Date by all Versum Employees. For
these purposes, a claim shall be deemed to have been made at the time the covered person applies for benefits. 
 (b) Administration of
Claims. 
 (i) Through the Plan Transition Date, the Air Products Group shall continue to be responsible for the administration of all
workers’ compensation claims that are, or have been, made before the Plan Transition Date by Versum Employees (the “Versum WC Claims”) and have been historically administered by Air Products or its third party administrator.
The Versum Group shall promptly reimburse the Air Products Group for any and all direct and indirect costs and expenses related to any such administration. 

(ii) Effective as of the Plan Transition Date, the Versum Group shall, to the extent legally permissible under the applicable state’s
workers’ compensation Laws, be responsible for the administration of all Versum WC Claims, and if not legally permissible, the Air Products Group shall be responsible for the administration of all Versum WC Claims not administered by Versum
pursuant to this Subsection 8.6(b)(ii). Any determination made, or settlement entered into, by or on behalf of either party or its insurance company with respect to Versum WC Claims for which it is administratively responsible shall be final and
binding upon the other party. The Versum Group shall promptly reimburse the Air Products Group for any and all direct and indirect costs and expenses related to any such settlement. 

ARTICLE IX 
 RETIREE
PROGRAMS 
 9.1 Retiree Programs. No member of the Versum Group shall assume any Liability with respect to any Retiree Programs.
Following the Plan Transition Date, no Versum Employee shall accrue any additional benefits under the Retiree Programs. Air Products shall provide or cause to be provided to each Versum Employee (and his or her eligible dependents) who was eligible
to retire on or immediately prior to the Plan Transition Date and, upon such retirement, would have satisfied the eligibility requirements for retiree welfare coverage set forth in the applicable Retiree Program, with retiree welfare benefits and
coverage following such Versum Employee’s retirement from Versum Group, with such benefits to be provided under the Retiree Program that was applicable to such Versum Employee immediately prior to the Plan Transition Date, as such applicable
Retiree Program may be amended from time to time following the Plan Transition Date as if such Versum Employee had remained employed with Air Products through the applicable retirement date. The provisions of this Section 9.1 shall not be
construed to require any member of the Air Products Group to maintain a Retiree Program or to prevent the amendment in any manner of any Retiree Program. The participation by any Versum Employee in a Retiree Program shall be subject to such right of
amendment or termination. 

  
 13 

 ARTICLE X 

 CASH BONUS PLANS 
 10.1
Cash-Based Incentive Plans. Effective as of the Separation Time, Versum shall establish an annual bonus or other cash-based incentive compensation plan for the benefit of eligible Versum Employees. Versum shall be responsible for the annual
bonus and other cash-based incentive compensation payable to Versum Employees in respect of each performance period for which such incentive compensation has not been paid, whether completed prior to or following the Separation Time. 

ARTICLE XI 
 EQUITY
COMPENSATION 
 11.1 General. Except as provided in Schedule 11.1, each award granted under the Air Products Stock Plan that is
outstanding immediately prior to the Separation Time and that is held by Versum Employee or Inactive Versum Employee shall be treated in accordance with this Article 11. 

11.2 Options. 
 (a)
Adjusted Air Products Options. Each Air Products Option that is outstanding immediately prior to the Separation Time and that is held by an Inactive Versum Employee, a Retirement Eligible Versum Employee or a Transitional Employee shall be
adjusted as of the Separation Time (and shall thereafter be referred to as an “Adjusted Air Products Option”) in a manner that complies with the requirements of Sections 424 and 409A of the Code as follows: 

(i) The number of shares of Air Products common stock subject to each Adjusted Air Products Option shall be equal to the product (rounded down
to the nearest whole share on an aggregated basis) of (A) the number of shares of Air Products common stock subject to the corresponding Air Products Option immediately prior to the Separation Time and (B) a fraction, the numerator of
which is the Air Products Pre-Distribution Stock Price and the denominator of which is the Air Products Post-Distribution Stock Price (such fraction, the “Air Products Ratio”). 

(ii) The exercise price per share for each Adjusted Air Products Option shall be equal to (rounded up to the nearest whole cent) (A) the
exercise price per share of the corresponding Air Products Option immediately prior to the Separation Time divided by (B) the Air Products Ratio. 

(iii) Each Adjusted Air Products Option shall otherwise be subject to the same terms, vesting conditions, exercise procedures, expiration
dates and termination provisions and other terms and conditions as were in effect immediately prior to the Separation Time for the corresponding Air Products Option, provided that: (A) for purposes of the vesting conditions of each Adjusted Air
Products Option held by a Retirement Eligible Versum Employee or Transitional Employee that is unvested as of the Separation Time, continued service with Versum or another member of the Versum Group, as the case may be, shall be considered continued
service with Air Products and (B) each Adjusted Air Products Option held by a Retirement Eligible Versum Employee that is vested as of the Separation Time or that becomes vested after the Separation Time shall remain exercisable through the
expiration of the original term of the corresponding Air Products Option. 
 (b) Versum Options. Each Air Products Option that is
outstanding immediately prior to the Separation Time and that is held by a Versum Employee (other than a Retirement Eligible Versum Employee or Transitional Employee) shall, as of the Separation Time, be cancelled and immediately replaced with a
Versum Option in a manner that complies with the requirements of Sections 424 and 409A of the Code as follows: 
  

  
 14 

 (i) The number of shares of Versum common stock subject to each Versum Option shall be equal to
the product (rounded down to the nearest whole share on an aggregated basis) of (A) the number of shares of Air Products common stock subject to the corresponding Air Products Option immediately prior to the Separation Time and (B) a fraction,
the numerator of which is the Air Products Pre-Distribution Stock Price and the denominator of which is the Versum Stock Price (such fraction, the “Versum Ratio”). 

(ii) The exercise price per share for each Versum Option shall be equal to (rounded up to the nearest whole cent) (A) the exercise price
of the corresponding Air Products Option immediately prior to the Separation Time divided by (B) the Versum Ratio. 
 (iii) Each Versum
Option shall otherwise be subject to the same terms, vesting conditions, exercise procedures, expiration dates and termination provisions and other terms and conditions as were in effect immediately prior to the Separation Time for the corresponding
Air Products Option, provided that, for purposes of the vesting conditions of each Versum Option that is unvested as of the Separation Time, any requirement for continued service by the holder of such Versum Option shall be satisfied by continued
service with Versum or another member of the Versum Group, as the case may be. 
 11.3 Restricted Stock Units. 

(a) Adjusted Air Products Restricted Stock Units. Each Air Products Restricted Stock Unit that is outstanding immediately prior to the
Separation Time and that is held by an Inactive Versum Employee or a Transitional Employee shall be adjusted as of the Separation Time (and shall thereafter be referred to as an “Adjusted Air Products Restricted Stock Unit”) as
follows: 
 (i) The number of shares of Air Products common stock subject to each Adjusted Air Products Restricted Stock Unit shall be equal
to the product (rounded up to the nearest whole share on an aggregated basis) of (A) the number of shares of Air Products common stock subject to the corresponding Air Products Restricted Stock Unit immediately prior to the Separation Time and
(B) the Air Products Ratio. 
 (ii) Each Adjusted Air Products Restricted Stock Unit shall be subject to the same terms, vesting
conditions, issuance dates and method of distribution and other terms and conditions as were in effect immediately prior to the Separation Time for the corresponding Air Products Restricted Stock Unit, provided that, for purposes of the vesting
conditions of each Adjusted Air Products Restricted Stock Unit held by a Transitional Employee that is unvested as of the Separation Time, continued service with Versum or another member of the Versum Group, as the case may be, shall be considered
continued service with Air Products. 
 (b) Versum Restricted Stock Units. Each Air Products Restricted Stock Unit that is outstanding
immediately prior to the Separation Time and that is held by a Versum Employee (other than a Transitional Employee) shall, as of the Separation Time, be cancelled and immediately replaced with a Versum Restricted Stock Unit, as follows: 

(i) The number of shares of Versum common stock subject to each Versum Restricted Stock Unit shall be equal to the product (rounded up to the
nearest whole share on an aggregated basis) of (A) the number of shares of Air Products common stock subject to the corresponding Air Products Restricted Stock Unit immediately prior to the Separation Time and (B) the Versum Ratio. 

(ii) Each Versum Restricted Stock Unit shall otherwise be subject to the same terms, vesting conditions, exercise procedures, expiration dates
and termination provisions and other terms and conditions as were in effect immediately prior to the Separation Time for the corresponding Air Products Restricted Stock Unit, provided that, for purposes of the vesting conditions of each Versum
Restricted Stock Unit that is unvested as of the Separation Time, any requirement for continued service by the holder of such Versum Restricted Stock Unit shall be satisfied by continued service with Versum or another member of the Versum Group, as
the case may be. 

  
 15 

 11.4 Performance Shares. 

(a) Adjusted Air Products 2014 Performance Shares. Each Air Products Performance Share subject to a three fiscal year performance period
ending September 30, 2016 that is outstanding immediately prior to the Separation Time and that is held by an Inactive Versum Employee or a Transitional Employee shall be adjusted as of the Separation Time (and shall thereafter be referred to
as an “Adjusted Air Products 2014 Performance Share”) as follows: 
 (i) The target number of shares of Air Products common
stock subject to each Adjusted Air Products 2014 Performance Share shall be equal to the product (rounded up to the nearest whole share on an aggregated basis) of (A) the target number of shares of Air Products common stock subject to the
corresponding Air Products 2014 Performance Share immediately prior to the Separation Time and (B) the Air Products Ratio. 
 (ii) Each
Adjusted Air Products 2014 Performance Share shall be subject to the same terms, vesting conditions, earn out schedule, issuance dates and method of distribution and other terms and conditions as were in effect immediately prior to the Separation
Time for the corresponding Air Products 2014 Performance Share, provided that, for purposes of the vesting conditions of each Adjusted Air Products 2014 Performance Share held by a Transitional Employee that is unvested as of the Separation Time,
continued service with Versum or another member of the Versum Group, as the case may be, shall be considered continued service with Air Products. The total number of Adjusted Air Products 2014 Performance Shares earned shall be based on actual
achievement of the applicable payout factor (based on Air Products performance metrics) with respect to such shares, as determined by the Management Development and Compensation Committee of the Air Products Board in accordance with the terms and
conditions of such shares. 
 (b) Adjusted Air Products 2015 Performance Shares. Each Air Products Performance Share subject to a
three fiscal year performance period ending September 30, 2017 that is outstanding immediately prior to the Separation Time and that is held by an Inactive Versum Employee or a Transitional Employee shall be adjusted as of the Separation Time
(and shall thereafter be referred to as an “Adjusted Air Products 2015 Performance Share”) as follows: 
 (i) The target
number of shares of Air Products common stock subject to each Adjusted Air Products 2015 Performance Share shall be equal to the product (rounded up to the nearest whole share on an aggregated basis) of (A) the target number of shares of Air
Products common stock subject to the corresponding Air Products 2015 Performance Share immediately prior to the Separation Time and (B) the Air Products Ratio. 

(ii) Each Adjusted Air Products 2015 Performance Share shall be subject to the same terms, vesting conditions, earn out schedule, issuance
dates and method of distribution and other terms and conditions as were in effect immediately prior to the Separation Time for the corresponding Air Products 2015 Performance Share, provided that, for purposes of the vesting conditions of each
Adjusted Air Products 2015 Performance Share held by a Transitional Employee that is unvested as of the Separation Time, continued service with Versum or another member of the Versum Group, as the case may be, shall be considered continued service
with Air Products. The total number of Adjusted Air Products 2015 Performance Shares earned shall be based on actual achievement of the applicable payout factor with respect to such shares, as determined by the Management Development and
Compensation Committee of the Air Products Board in accordance with the terms and conditions of such shares, provided that for purposes of calculating the Air Products relative total shareholder return for the applicable performance period, the
Distribution shall be treated as a dividend that is reinvested in additional shares of Air Products common stock at the Versum Stock Price. 

(c) Adjusted Air Products 2016 Performance Shares. Each Air Products Performance Share subject to a three fiscal year performance period
ending September 30, 2018 that is outstanding immediately prior to the Separation Time and that is held by an Inactive Versum Employee or a Transitional Employee shall be adjusted as of the Separation Time (and shall thereafter be referred to
as an “Adjusted Air Products 2016 Performance Share”) as follows: 

  
 16 

 (i) The target number of shares of Air Products common stock subject to each Adjusted Air
Products 2016 Performance Share shall be equal to the product (rounded up to the nearest whole share on an aggregated basis) of (A) the target number of shares of Air Products common stock subject to the corresponding Air Products 2016
Performance Share immediately prior to the Separation Time and (B) the Air Products Ratio. 
 (ii) Each Adjusted Air Products 2016
Performance Share shall be subject to the same terms, vesting conditions, earn out schedule, issuance dates and method of distribution and other terms and conditions as were in effect immediately prior to the Separation Time for the corresponding
Air Products 2016 Performance Share, provided that, for purposes of the vesting conditions of each Adjusted Air Products 2016 Performance Share held by a Transitional Employee that is unvested as of the Separation Time, continued service with Versum
or another member of the Versum Group, as the case may be, shall be considered continued service with Air Products. The total number of Adjusted Air Products 2016 Performance Shares earned shall be based on actual achievement of the applicable
payout factor with respect to such shares, as determined by the Management Development and Compensation Committee of the Air Products Board in accordance with the terms and conditions of such shares, provided that for purposes of calculating the Air
Products relative total shareholder return for the applicable performance period, the Distribution shall be treated as a dividend that is reinvested in additional shares of Air Products common stock at the Versum Stock Price. 

(d) Versum 2014 Performance Shares. Each Air Products Performance Share subject to a three fiscal year performance period ending
September 30, 2016 that is outstanding immediately prior to the Separation Time and that is held by a Versum Employee (other than a Transitional Employee) shall, as of the Separation Time, be cancelled and immediately replaced with a Versum
2014 Performance Share, as follows: 
 (i) The target number of shares of Versum common stock subject to each Versum 2014 Performance Share
shall be equal to the product (rounded up to the nearest whole share on an aggregated basis) of (A) the target number of shares of Air Products common stock subject to the corresponding Air Products 2014 Performance Share immediately prior to
the Separation Time and (B) the Versum Ratio. 
 (ii) Each Versum 2014 Performance Share shall otherwise be subject to the same terms,
vesting conditions, earn out schedule, issuance dates and method of distribution and other terms and conditions as were in effect immediately prior to the Separation Time for the corresponding Air Products 2014 Performance Share, provided that, for
purposes of the vesting conditions of each Versum 2014 Performance Share that is unvested as of the Separation Time, any requirement for continued service by the holder of such Versum 2014 Performance Share shall be satisfied by continued service
with Versum or another member of the Versum Group, as the case may be. The total number of Versum 2014 Performance Shares earned shall be based on actual achievement of the applicable payout factor (based on Air Products performance metrics) with
respect to such shares, as determined by the Management Development and Compensation Committee of the Air Products Board in accordance with the terms and conditions of such shares and communicated to Versum as soon as practicable following such
determination. 
 (e) Versum 2015 Performance Shares. Each Air Products Performance Share subject to a three fiscal year performance
period ending September 30, 2017 that is outstanding immediately prior to the Separation Time and that is held by a Versum Employee (other than a Transitional Employee) shall, as of the Separation Time, be cancelled and immediately replaced
with a Versum 2015 Performance Share, as follows: 
 (i) The target number of shares of Versum common stock subject to each Versum 2015
Performance Share shall be equal to the product (rounded down to the nearest whole share on an aggregated basis) of (A) the target number of shares of Air Products common stock subject to the corresponding Air Products 2015 Performance Share
immediately prior to the Separation Time and (B) the Versum Ratio. 

  
 17 

 (ii) Each Versum 2015 Performance Share shall otherwise be subject to the same terms, vesting
conditions, earn out schedule, issuance dates and method of distribution and other terms and conditions as were in effect immediately prior to the Separation Time for the corresponding Air Products 2015 Performance Share, provided that, for purposes
of the vesting conditions of each Versum 2015 Performance Share that is unvested as of the Separation Time, any requirement for continued service by the holder of such Versum 2015 Performance Share shall be satisfied by continued service with Versum
or another member of the Versum Group, as the case may be, and provided further that achievement of the applicable payout factor with respect to such shares shall be calculated based on the achievement of metrics to be determined by the Compensation
Committee of the Versum Board, with due consideration given to Air Products’ relative total shareholder return performance from the beginning of the applicable performance period through the date immediately preceding the Distribution Date.

 (f) Versum 2016 Performance Shares. Each Air Products Performance Share subject to a three fiscal year performance period ending
September 30, 2018 that is outstanding immediately prior to the Separation Time and that is held by a Versum Employee (other than a Transitional Employee) shall, as of the Separation Time, be cancelled and immediately replaced with a Versum
2016 Performance Share, as follows: 
 (i) The number of shares of Versum common stock subject to each Versum 2016 Performance Share shall
be equal to the product (rounded up to the nearest whole share on an aggregated basis) of (A) the target number of shares of Air Products common stock that could be earned subject to the corresponding Air Products 2016 Performance Shares
immediately prior to the Separation Time and (B) the Versum Ratio. 
 (ii) Each Versum 2016 Performance Share shall otherwise be
subject to the same terms, vesting conditions, earn out schedule and method of distribution and other terms and conditions as were in effect immediately prior to the Separation Time for the corresponding Air Products 2016 Performance Share, provided
that, for purposes of the vesting conditions of each Versum 2016 Performance Share that is unvested as of the Separation Time, any requirement for continued service by the holder of such Versum 2016 Performance Share shall be satisfied by continued
service with Versum or another member of the Versum Group, as the case may be, and provided further that achievement of the applicable payout factor with respect to such shares shall be calculated based on the achievement of metrics to be determined
by the Compensation Committee of the Versum Board. 
 11.5 Restricted Shares. Each holder of an Air Products Restricted Share that is
outstanding immediately prior to the Separation Time shall receive the appropriate number of unrestricted shares of Versum common stock in the Distribution in accordance with Article 4 of the Separation Agreement as if the holder of such Air
Products Restricted Share was a Record Holder. Following the Distribution, each Air Products Restricted Share shall remain subject to the same terms, vesting conditions, termination provisions and other terms and conditions as were in effect
immediately prior to the Separation Time, provided that for purposes of the vesting conditions of each Air Products Restricted Share held by a Versum Employee that is unvested as of the Separation Time, continued service with Versum or another
member of the Versum Group, as the case may be, shall be considered continued service with Air Products. 
 11.6 Approval of Plans.
Prior to the Separation Time, Air Products shall cause Versum to adopt the Versum Stock Plan. 
 11.7 Registration. The Parties shall
use commercially reasonable efforts to maintain effective registration statements with respect to the awards described in this Article 11 to the extent that any such registration statement is required by applicable Law. 

11.8 Equity-Related Tax Matters. Air Products shall be entitled to claim any compensation deduction associated with the exercise by a
holder of an Air Products Option, the vesting of an Air Products Restricted Share or the settlement of an Air Products Restricted Stock Unit or Performance Share, as the case maybe, on any duly 

  
 18 

 
filed US federal, state or local income tax return for the year of exercise, vesting or settlement, as the case may be, and neither Versum nor any of its Affiliates shall take any inconsistent
position in connection therewith. If, notwithstanding the foregoing, a Final Determination shall provide that the benefit of a tax deduction related to the payment of such compensation shall not belong to Air Products but to Versum, then with
respect to any such compensation deduction claimed during the taxable year or years covered by such Final Determination as well as any such compensation deduction claimed during subsequent taxable years on any previously filed income tax return,
Versum (i) shall be entitled to claim the benefit of the deduction on any applicable income tax return (including any amended income tax return) and (ii) shall, in any event, pay to Air Products within 30 days from the date of such Final
Determination an amount equal to the incremental income tax payable by Air Products as a result of the loss of such deduction, as well as any interest payable by Air Products with respect to such incremental income tax, each as determined by Air
Products in its reasonable judgment. To the extent that any Air Products Option that is subject to this Agreement has not yet been exercised, any Air Products Restricted Share that is subject to this Agreement has not vested, or any Air Products
Restricted Stock Unit or Performance Share that is subject to this Agreement has not yet been settled, in each case at the time such Final Determination occurs, then to the extent that such Final Determination would be inconsistent with Air Products
receiving the benefit of any tax deduction related to the payment of such compensation upon such exercise, vesting or settlement, (i) Air Products shall not claim the benefit of any associated deduction on its tax return for the year of
exercise, vesting or settlement, as applicable, (ii) Versum shall be entitled to claim the benefit of the deduction on any applicable income tax return for the year of exercise, vesting or settlement and (iii) in any event, Versum shall
pay to Air Products within 30 days of the such exercise, vesting or settlement an amount equal to the product of (x) the tax deduction resulting from such compensation and (y) the combined federal, state and local tax rates applicable to
Air Products for the year of such exercise, vesting or settlement, in each case as determined by Air Products in its reasonable judgment. 

ARTICLE XII 
  SEPARATION PAY;
VACATION; UNEMPLOYMENT INSURANCE 
 12.1 Separation Pay. Versum shall assume and be solely responsible for all Liabilities with
respect to severance benefits attributable to the termination of employment after the Employee Transfer Date of Versum Employees (other than Transitional Employees), to the extent such individual is eligible for severance pursuant to the terms of
the Versum severance pay plan or policy as in effect as of the date of the employee’s termination of employment. 
 12.2 Vacation
Benefits. Versum or another member of Versum Group shall assume and honor all vacation time accrued but not yet taken by Versum Employees as of the Employee Transfer Date (including banked vacation). 

12.3 Unemployment Insurance Program; Other Arrangements. No later than the Plan Transition Date, Versum shall use its commercially
reasonable best efforts to procure an agreement with an unemployment insurance vendor to provide unemployment insurance for Versum Employees where such coverage was maintained by Air Products for the Versum Employees immediately prior to the Plan
Transition Date. No later than the Plan Transition Date, Versum or another member of Versum Group shall undertake the negotiations specified in Schedule 12.3. 

ARTICLE XIII 
  OTHER
EMPLOYMENT-RELATED MATTERS 
 13.1 Confidentiality and Proprietary Information. No provision of the Separation Agreement or any
Ancillary Agreement shall be deemed to release any individual, and the Versum Group shall not have the ability to release any individual, for any violation of the Air Products non-competition guidelines or any agreement or policy pertaining to
confidential or proprietary information of any member of the Air Products Group, or otherwise relieve any individual of his or her obligations under such non-competition guidelines, agreement or policy, provided that service with the Versum Group
shall not constitute a violation of any such non-competition guidelines. 

  
 19 

 ARTICLE XIV 

 CERTAIN PAYROLL AND TAX MATTERS 

14.1 Payroll and Withholding. 

(a) Accrued Payroll. Air Products shall retain all Liabilities related to payroll with respect to Versum Employees, to the extent such
Liabilities relate to service prior to the Employee Transfer Date, and shall pay such amounts on or after the Employee Transfer Date in accordance with its standard payroll practices. Effective as of the Separation Time, Versum Group shall establish
its own payroll system for Versum Employees. 
 (b) Income Reporting, Withholding. Air Products and Versum shall, to the extent
practicable, (i) treat Versum (or a member of Versum Group designated by Versum) as a “successor employer” and Air Products (or the appropriate Air Products Group member) as a “predecessor,” within the meaning of Sections
3121(a)(1) and 3306(b)(1) of the Code, with respect to Versum Employees for purposes of taxes imposed under the United States Federal Unemployment Tax Act or the United States Federal Insurance Contributions Act, and (ii) cooperate with each
other to avoid, to the extent possible, the filing of the more than one IRS Form W-2 with respect to each Versum Employee for the year in which the Distribution occurs. Without limiting in any manner the obligations and Liabilities of the parties
under the Tax Matters Agreement, Air Products, each Air Products Group member, Versum and each Versum Group member shall each bear its responsibility for payroll tax obligations and for the proper reporting to the appropriate governmental
authorities of compensation earned by their respective employees after the Employee Transfer Date, including compensation related to the exercise of options or the vesting, settlement or exercise of other equity awards, subject to Section 11.8
hereof. 
 (c) Delivery of, and Access to, Documents and Other Information. Concurrently with the Employee Transfer Date, Air Products
shall cause to be delivered to Versum the employee information set forth on all withholding certificates executed by Versum Employees as of the Employee Transfer Date. For such period as Air Products and Versum may mutually agree in writing, Air
Products shall make reasonably available to Versum all forms, documents or information, no matter in what format stored, relating to compensation or payments made to any Versum Employee. Such information may include, but is not limited to,
information concerning employee payroll deductions, payroll adjustments, records of time worked, tax records (e.g., Forms W-2, 1099, W-4, 940 and 941 and applicable counterparts in other jurisdictions), and information concerning garnishment of
wages or other payments. 
 (d) Consistency of Tax Positions; Duplication. Air Products and Versum shall individually and collectively
make commercially reasonable best efforts to avoid unnecessarily duplicated federal, state or local payroll taxes, insurance or workers’ compensation contributions, or unemployment contributions arising on or after the Employee Transfer Date.
Air Products and Versum shall cooperate with a view toward taking consistent reporting and withholding positions with respect to any such taxes or contributions. 

14.2 Personnel and Pay Records. Notwithstanding anything to the contrary in the Separation Agreement, to the extent permitted by
applicable Law, the original of all records created prior to the Employee Transfer Date set forth in the personnel files of Versum Employees (including, but not limited to, information regarding such employee’s ranking or promotions, the
existence and nature of garnishment orders or other judicial or administrative actions or orders affecting the employee’s compensation, and performance evaluations) shall be transferred to the applicable member of Versum Group as of the
Employee Transfer Date. The originals of all personnel records of all Former Versum Employees shall remain with the applicable member of the Air Products Group; provided that Air Products shall permit Versum or its Affiliates or successors or their
authorized representatives to have full access to all such personnel records to the extent reasonably necessary in order for the members of Versum Group or its successors to respond to a subpoena, court order, audit, investigation or otherwise as
required by applicable Law or in connection with any pending or threatened lawsuits, actions, arbitrations, claims, complaints, investigations or other proceedings. Versum or its Affiliates (or their respective successors) shall retain the personnel
records for a period of at least ten (10) years following the Distribution. The members of Versum Group shall permit Air Products and its authorized representatives to have full access upon reasonable notice during normal business hours to all
the personnel records during the ten (10) year retention period in order for the members of the Air Products Group to respond to a subpoena, court order, audit or investigation, to obtain data for pension or other benefits, or otherwise as
required by applicable Law, and the members of Versum Group shall provide Air Products, upon the reasonable request of Air Products and at the expense of Air Products, with copies of such personnel records. 

  
 20 

 ARTICLE XV 

 ADMINISTRATIVE PROVISIONS 

15.1 Sharing of Participant Information. In addition to the responsibilities and obligations of Air Products and Versum specified in
the Separation Agreement and the schedules thereto, Air Products and Versum shall share, or cause to be shared, all participant information that is necessary or appropriate for the efficient and accurate administration of each of the Air Products
Plans and Versum Plans during the respective periods applicable to such Plans as Versum and Air Products may mutually agree, subject to applicable Laws (including those with respect to privacy, confidentiality and data protection). Subject to such
Laws, Air Products and Versum and their respective authorized agents shall be given reasonable and timely access to, and may make copies of, all information relating to the subjects of this Agreement in the custody of the other party or its agents,
to the extent necessary or appropriate for such administration. 
 15.2 Audits Regarding Vendor Contracts. From the period beginning
on the Plan Transition Date and ending on such date as Air Products and Versum may mutually agree in writing, Air Products and Versum and their duly authorized representatives shall have the right to conduct joint audits with respect to any vendor
contracts that relate to both the Air Products Health and Welfare Plans and the Versum Health and Welfare Plans. The scope of such audits shall encompass the review of all correspondence, account records, claim forms, canceled drafts (unless
retained by the bank), provider bills, medical records submitted with claims, billing corrections, vendor’s internal corrections of previous errors and any other documents or instruments relating to the services performed by the vendor under
the applicable vendor contracts. Air Products and Versum shall agree on the performance standards, audit methodology, auditing policy and quality measures, reporting requirements, and the manner in which costs incurred in connection with such audits
will be shared. 
 15.3 Regulatory Matters. Air Products and Versum shall make such filings and applications to regulatory agencies,
including the IRS and DOL, as may be necessary or appropriate in connection with the transactions contemplated by this Agreement. Versum and Air Products shall cooperate fully with one another on any issue relating to the transactions contemplated
by this Agreement for which Air Products and/or Versum elects to seek a determination letter or private letter ruling from the IRS, an advisory opinion from the DOL or other ruling from a local regulatory agency. 

15.4 Fiduciary Matters. Air Products and Versum each acknowledge that actions contemplated to be taken pursuant to this Agreement may be
subject to fiduciary duties or standards of conduct under ERISA or other applicable Law, and no party shall be deemed to be in violation of this Agreement if such party fails to comply with any provisions hereof based upon such party’s good
faith determination that to do so would violate such a fiduciary duty or standard. 
 15.5 Consent of Third Parties. If any provision
of this Agreement is dependent on the consent of any third party (such as a vendor) and such consent is withheld, Air Products and Versum shall use their commercially reasonable best efforts to implement the applicable provision. If any provision of
this Agreement cannot be implemented due to the failure of such third party to consent, Air Products and Versum shall negotiate in good faith to implement the provision in a mutually satisfactory manner. 

  
 21 

 ARTICLE XVI 

 GENERAL PROVISIONS 
 16.1
Cooperation. 
 (a) Duties of Versum. Following the Distribution, Versum shall cooperate, and shall cause the members of the
Versum Group to cooperate, fully with the members of the Air Products Group in the prosecution, defense and settlement of any claims for which any member of the Air Products Group retains Liability under this Agreement. Such cooperation shall
include (i) affording the applicable member of the Air Products Group, its counsel and its other representatives reasonable access, upon reasonable written notice during normal business hours, to all relevant personnel, properties, books,
contracts, commitments and records, (ii) furnishing promptly to the applicable member of the Air Products Group, its counsel and its other representatives such information as they reasonably requested, and (iii) providing any other
assistance to the applicable member of the Air Products Group, its counsel and its other representatives as they reasonably request. Air Products shall reimburse Versum for reasonable costs and expenses incurred in assisting Air Products pursuant to
this Subsection 16.1(a). 
 (b) Duties of Air Products. Following the Distribution, Air Products shall cooperate, and shall cause the
members of the Air Products Group to cooperate, fully with the members of the Versum Group in the prosecution, defense and settlement of any claims for which any member of the Versum Group assumes Liability under this Agreement. Such cooperation
shall include (i) affording the applicable member of the Versum Group, its counsel and its other representatives reasonable access, upon reasonable written notice during normal business hours, to all relevant personnel, properties, books,
contracts, commitments and records, (ii) furnishing promptly to the applicable member of the Versum Group, its counsel and its other representatives such information as they reasonably request, and (iii) providing any other assistance to
the applicable member of the Versum Group, its counsel and its other representatives as they reasonably request. Versum shall reimburse Air Products for reasonable costs and expenses incurred in assisting Versum pursuant to this Subsection 16.1(b).

 16.2 Relationship of Parties. Nothing in this Agreement shall be deemed or construed by the Parties or any third party as creating
the relationship of principal and agent, partnership or joint venture between the Parties, the understanding and agreement being that no provision contained herein, and no act of the Parties, shall be deemed to create any relationship between the
Parties other than the relationship set forth herein. 
 16.3 Affiliates. Each of Air Products and Versum shall cause to be performed,
and hereby guarantee the performance of, any and all actions of the members of the Air Products Group or Versum Group, respectively. 
 16.4
No Third Party Remedies. The provisions of this Agreement are solely for the benefit of the Parties and are not intended to confer upon any Person (including employees of the Parties hereto) except the Parties any rights or remedies
hereunder, and there are no third party beneficiaries of this Agreement and this Agreement shall not provide any third person (including employees of the Parties) with any remedy, claim, liability, reimbursement, claim of action or other right in
excess of those existing without reference to this Agreement. 
 16.5 Governing Law. This Agreement and any dispute arising out of, in
connection with or relating to this Agreement shall be governed by and construed in accordance with the Laws of the State of Delaware, without giving effect to the conflicts of laws principles thereof that would compel the application of the laws of
another jurisdiction. Each Party hereto agrees that the appropriate, exclusive and convenient forum for any disputes between any of the parties hereto arising out of this Agreement or the transactions contemplated hereby shall be in any state or
federal court in the State of Delaware. 
 16.6 Severability. If any provision of this Agreement or the application thereof to any
Person or circumstance is determined by a court of competent jurisdiction to be invalid, void or unenforceable, the remaining provisions hereof or the application of such provision to Persons or circumstances or in jurisdictions other than those as
to which it has been held invalid or unenforceable, shall remain in full force and effect and shall in no way be affected, impaired or invalidated thereby, so long as the economic or legal substance of the transactions contemplated hereby is not
affected in any manner adverse to any party. Upon such determination, the Parties shall negotiate in good faith in an effort to agree upon such a suitable and equitable provision to effect the original intent of the Parties. 

16.7 Amendment and Termination. This Agreement may be amended or terminated at any time prior to the Distribution by and in the sole
discretion of Air Products without the approval of Versum. This Agreement may be amended at any time on after the Distribution by mutual consent signed in writing by Air Products and Versum. 

16.8 Conflict. In the event of any conflict between the provisions of this Agreement and the Separation Agreement, any Ancillary
Agreement, or Plan, the provisions of this Agreement shall control. 

  
 22 

 16.9 Counterparts. This Agreement may be executed in one or more counterparts, all of
which shall be considered one and the same agreement, and shall become effective when one or more counterparts have been signed by each of the Parties and delivered to the other Party. Execution of this Agreement or any other documents pursuant to
this Agreement by facsimile or other electronic copy of a signature shall be deemed to be, and shall have the same effect as, executed by an original signature. 

[Signature Page Follows] 

  
 23 

 EXECUTION VERSION 

IN WITNESS WHEREOF, the Parties have caused this Agreement to be duly executed as of the day and year first above written. 

 

			
	AIR PRODUCTS AND CHEMICALS, INC.
		
	By:	 	 /s/ M. Scott Crocco

	Name:	 	M. Scott Crocco
	Title:	 	 Senior Vice President and Chief Financial Officer

	
	VERSUM MATERIALS, INC.
		
	By:	 	 /s/ Guillermo Novo

	Name:	 	Guillermo Novo
	Title:	 	President and Chief Executive Officer

 [Signature Page to Employee Matters Agreements]EX-10.4

 Exhibit 10.4 

EXECUTION VERSION 
 INTELLECTUAL
PROPERTY CROSS-LICENSE AGREEMENT 
 by and between 

AIR PRODUCTS AND CHEMICALS, INC. 

and 
 VERSUM MATERIALS U.S.,
LLC 
 Dated as of September 29, 2016 

 TABLE OF CONTENTS 

 

							
	Article I	  
	
	DEFINITIONS AND INTERPRETATION	  
			
	Section 1.1	 	Definitions	  	 	5	  
	Section 1.2	 	References; Interpretation	  	 	9	  
	
	Article II	  
	
	GRANTS OF RIGHTS	  
			
	Section 2.1	 	License to Versum of Air Products Licensed IP	  	 	9	  
	Section 2.2	 	Licenses to Air Products of Versum Licensed IP	  	 	10	  
	Section 2.3	 	By-Products, Impurities and Intermediates	  	 	10	  
	Section 2.4	 	Reservation of Rights	  	 	10	  
	Section 2.5	 	Third Party Rights	  	 	11	  
	
	Article III	  
	
	PROSECUTION AND MAINTENANCE; OWNERSHIP	  
			
	Section 3.1	 	Responsibility and Cooperation	  	 	11	  
	Section 3.2	 	Failure to Prosecute or Maintain	  	 	11	  
	Section 3.3	 	Sale of Licensed Patents by Licensor	  	 	12	  
	Section 3.4	 	Ownership	  	 	13	  
	Section 3.5	 	No Additional Obligations	  	 	13	  
	
	Article IV	  
	
	ENFORCEMENT	  
			
	Section 4.1	 	Notification	  	 	13	  
	Section 4.2	 	Defense and Enforcement	  	 	13	  
	Section 4.3	 	Cooperation	  	 	14	  
	Section 4.4	 	Settlements	  	 	14	  
	Section 4.5	 	Costs, Expenses, and Damages	  	 	14	  
	
	Article V	  
	
	DISCLAIMERS; LIMITATIONS OF LIABILITY; OTHER COVENANTS	  
			
	Section 5.1	 	Disclaimer	  	 	14	  
	Section 5.2	 	Limitations on Liability	  	 	15	  
	Section 5.3	 	Compliance	  	 	15	  

  
 2 

					
	Article VI
	
	CONFIDENTIALITY
			
	Section 6.1	 	Disclosure and Use Restrictions	  	15
	Section 6.2	 	Notification by the Receiving Party	  	16
	Section 6.3	 	Air Products Licensed Engineering and Process Standards and Policies	  	16
	Section 6.4	 	Transfer of Know-How	  	17
	Section 6.5	 	Survival	  	17
	
	Article VII
	
	TERM
			
	Section 7.1	 	Term	  	17
	Section 7.2	 	Termination of Licenses to the Air Products Licensed Engineering Process Standards and Policies for Change of Control	  	17
	
	Article VIII
	
	MISCELLANEOUS
			
	Section 8.1	 	Amendment	  	18
	Section 8.2	 	Waiver	  	18
	Section 8.3	 	Complete Agreement	  	18
	Section 8.4	 	Assignment	  	18
	Section 8.5	 	Severability	  	19
	Section 8.6	 	Notices	  	19
	Section 8.7	 	Governing Law	  	20
	Section 8.8	 	Dispute Resolution	  	20
	Section 8.9	 	Bankruptcy	  	20
	Section 8.10	 	Title and Headings	  	20
	Section 8.11	 	Counterparts	  	20
	Section 8.12	 	Expenses	  	20
	Section 8.13	 	Parties in Interest	  	21
	Section 8.14	 	Construction	  	21
	Section 8.15	 	Relationship of the Parties	  	21

			
		
	List of Schedules	  	
		
	Schedule A	  	Air Products’ Licensed Patents
	Schedule B	  	Air Products’ Engineering Standards
	Schedule C	  	Air Products’ EH&S Standards

  
 3 

			
	Schedule D	  	Versum Licensed Patents
	Schedule E	  	Versum Field of Use
	Schedule F	  	Versum Megasys Know-How and Process Information

  
 4 

 INTELLECTUAL PROPERTY CROSS-LICENSE AGREEMENT 

This INTELLECTUAL PROPERTY CROSS LICENSE AGREEMENT (this “Agreement”), dated as of September 29, 2016 (the
“Effective Date”), is entered into by and between Air Products and Chemicals, Inc. (“Air Products”), a Delaware corporation with an address at 7201 Hamilton Boulevard, Allentown, Pennsylvania 18195, U.S.A., and
Versum Materials U.S., LLC (“Versum”), a limited liability company organized under the laws of the State of Delaware with an address at 7201 Hamilton Boulevard, Allentown, Pennsylvania 18195, U.S.A. (both Air Products and Versum, a
“Party” and collectively, the “Parties”). 
 RECITALS 

WHEREAS, the Parties and certain of their Affiliates will enter into that certain Separation Agreement, to be dated September 29,
2016, (the “Separation Agreement”); and 
 WHEREAS, Air Products has rights to certain Intellectual Property that is
necessary or useful with respect to the Versum Business (as defined in the Separation Agreement), and Versum has rights to certain Intellectual Property that is necessary or useful with respect to Air Products’ retained businesses, and, in
contemplation of the Separation Agreement, Air Products wishes to grant to Versum, and Versum wishes to grant to Air Products, a license to certain of such Intellectual Property, in each case as and to the extent set forth herein, such licenses to
become effective as of the effective date of the Separation Agreement. 
 NOW, THEREFORE, in consideration of the foregoing and the
mutual agreements, provisions and covenants contained in this Agreement, the Parties hereby agree as follows:  
 ARTICLE I

  DEFINITIONS AND INTERPRETATION  

Section 1.1 Definitions. Capitalized terms used in this Agreement, including any Appendices and Schedules hereto, shall have the
meanings ascribed to such terms in this Agreement, including as specified in this Section 1.1. 
 (a) “Action”
shall mean any demand, action, claim, suit, countersuit, arbitration, inquiry, subpoena, case, litigation, proceeding or investigation (whether civil, criminal, administrative or investigative) by or before any court or grand jury, any Governmental
Entity or any arbitration or mediation tribunal. 
 (b) “Affiliate” shall mean, when used with respect to a specified
Person, a Person and at a point in, or with respect to a period of, time, a Person that directly or indirectly, through one or more intermediaries, controls, is controlled by, or is under common control with, such specified Person at such point in
or during such period of time. For the purposes of this definition, “control”, when used with respect to any specified Person shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the
management and policies of such Person, whether through the ownership of voting securities or other interests, by contract or otherwise. It is expressly agreed that Versum and its Subsidiaries shall not be deemed Affiliates of Air Products or any of
its Affiliates. 

  
 5 

 (c) “Air Products Licensed Engineering and Process Standards and Policies”
means, collectively, (i) Air Products Licensed Engineering Standards, and (ii) the Air Products Licensed EH&S Standards. 

(d) “Air Products Licensed EH&S Standards” means the Air Products Environmental, Health, and Safety Standards, including
training materials, to the extent set forth in Schedule C. Once Versum adopts its own standard or policy in accordance with Section 2.1(b), such standard or policy would be owned by Versum and not constitute Air Products Licensed EHS
Standards under the terms of this Agreement. 
 (e) “Air Products Licensed Engineering Standards” means the standards,
protocols, process design methods (PDMs), training materials processes, and policies, including the engineering guidelines which consist of that library of “how-to” guides for designing, constructing, maintaining, and operating equipment
and facilities, each only to the extent documented in documents set forth in Schedule B. Once Versum adopts its own standard or policy in accordance with Section 2.1(b), such standard or policy would be owned by Versum and not constitute
Air Products Licensed Engineering Standards under the terms of this Agreement. 
 (f) “Air Products Licensed IP” means the
Air Products Licensed Patents, the Air Products Licensed Engineering and Process Standards and Policies, and the Air Products Licensed Engineering Models and Databases. 

(g) “Air Products Licensed Patents” means the Patents and Patent Applications owned by Air Products and licensed to Versum
hereunder that are set forth on Schedule A, including any foreign equivalents, continuations, continuation-in-parts, divisionals and reissues thereof. 

(h) “Business Day” means any day other than Saturday or Sunday and any other day on which commercial banking institutions
located in New York, New York are required, or authorized by Law, to remain closed. 
 (i) “Change of Control” means
(i) the direct or indirect acquisition, by any Person or group of Persons acting in concert, whether by merger, reorganization, consolidation, sale, operation of law or otherwise, in one transaction or any related series of transactions, of
control of such Party or (ii) the sale, transfer or disposition by such Party, in one transaction or any related series of transactions, of all or substantially all of such Party’s assets, in each case other than to a Subsidiary of such
Party (but only for so long as such Subsidiary remains a Subsidiary of such Party). For the purposes of this definition, “control” shall have the meaning ascribed to such term in the definition of “Affiliate” herein. 

(j) “Confidential Technical Information” means all Know-How licensed or disclosed by either Party hereunder, whether in
written or other tangible or intangible form, including any such information known by either party as a result of the parties being a single entity prior to the Separation Agreement. Disclosure of Confidential Technical

  
 6 

 
Information by one Party (“Disclosing Party”) to the other Party (“Recipient”) hereunder shall be subject to the terms of this Agreement (including Article
VI). “Confidential Technical Information” shall also include any physical or tangible items embodying or including any Confidential Technical Information. Notwithstanding the foregoing, Confidential Technical Information shall
not include any information which: 
 (i) is publicly known prior to the Effective Date; or 

(ii) becomes publicly known through no fault of the Recipient or as permitted under this Agreement; 

(iii) is or has been disclosed to the Recipient by a Third Party who has a lawful right to disclose the information, except to
the extent covered by an obligation of confidentiality or restricted use to the Third Party; or 
 (iv) is independently
developed by or for the Recipient without use of Confidential Technical Information for which the party is deemed a Recipient under this Agreement; provided that: (i) technical information or know-how shall not be deemed to be within the
foregoing exceptions merely because it is embraced by more general knowledge in the public domain or in the Recipient’s possession; and (ii) no combination of features shall be deemed to be within the foregoing exceptions merely because
individual features are in the public domain or in the Recipient’s possession, unless the combination itself and its principle of operations are in the public domain or in the Recipient’s possession. 

(k) “Governmental Entity” shall mean any nation or government, any state, municipality or other political subdivision thereof
and any entity, body, agency, commission, department, board, bureau or court, whether domestic, foreign, multinational, or supranational exercising executive, legislative, judicial, regulatory, self-regulatory or administrative functions of or
pertaining to government and any executive official thereof. 
 (l) “Know-How” means trade secrets and all other
confidential or proprietary information, know-how, inventions, processes, formulae, training materials and manuals, models and methodologies. 

(m) “Law” shall mean any applicable U.S. or non-U.S. federal, national, supranational, state, provincial, local or similar
statute, law, ordinance, regulation, rule, code, income tax treaty, order, requirement or rule of law (including common law) or other binding directives promulgated, issued, entered into or taken by any Governmental Entity. 

(n) “Licensed IP” means the Versum Licensed IP, with respect to the licenses to Air Products hereunder, and the Air Products
Licensed IP, with respect to the licenses to Versum hereunder. 
 (o) “Licensee” means each of Versum, with respect to the
Air Products Licensed IP, and Air Products, with respect to the Versum Licensed Patents. 

  
 7 

 (p) “Licensor” means Versum with respect to the Versum Licensed IP and Air
Products with respect to the Air Products Licensed IP. 
 (q) “Patents” means patents and patent applications, and any and
all related national or international counterparts thereto, including any divisionals, continuations, continuations-in-part, reissues, reexaminations, substitutions and extensions there. 

(r) “Patent Challenge” means any direct or indirect (including by supporting an Action brought by another Person) challenge
to the validity, patentability, enforceability, non-infringement or ownership of any Patent, including any such (i) court challenge (including any such declaratory judgment action), or (ii) activity or proceeding before a patent office or
other Governmental Entity or registrar, including any reissue, reexamination, pre-grant review, post-grant review, opposition or similar proceeding. 

(s) “Person” shall mean any natural person, firm, individual, corporation, business trust, joint venture, association, bank,
land trust, trust company, company, limited liability company, partnership, or other organization or entity, whether incorporated or unincorporated, or any Governmental Entity. 

(t) “Subsidiary” shall mean with respect to any Person (i) a corporation, fifty percent (50%) or more of the voting
or capital stock of which is, as of the time in question, directly or indirectly owned by such Person and (ii) any other Person in which such Person, directly or indirectly, owns fifty percent (50%) or more of the equity or economic
interest thereof or has the power to elect or direct the election of fifty percent (50%) or more of the members of the governing body of such entity. It is expressly agreed that Versum and its Subsidiaries shall not be deemed Subsidiaries of
Air Products or any of its Affiliates. 
 (u) “Third Party” means any Person other than Air Products, Versum, and their
respective Affiliates. 
 (v) “Valid Claim” means a claim of an issued and unexpired Patent that (i) has not been
revoked or held unenforceable or invalid by a decision of a court or other Governmental Entity of competent jurisdiction from which no appeal can be taken or has been taken within the time allowed for appeal and (ii) has not been abandoned,
disclaimed, denied, or admitted to be invalid or unenforceable through reissue or disclaimer or otherwise in such country. 
 (w)
“Versum Assets” means any plant, office or facility owned or operated by or for Versum. 
 (x) “Versum Field of
Use” means the licensed field of use as set out in Schedule E. 
 (y) “Versum Licensed IP” means the Megasys
Know-How and process information set out in Schedule F and the Versum Licensed Patents. 
 (z) “Versum Licensed Patents”
means the Patents and Patent Applications owned by Versum and licensed to Air Products hereunder that are set forth on Schedule D, including any foreign equivalents, continuations, continuation-in-parts, divisionals and reissues thereof. 

  
 8 

 Section 1.2 References; Interpretation. References in this Agreement to any gender include
references to all genders, and references to the singular include references to the plural and vice versa. Unless the context otherwise requires, the words “include”, “includes” and “including” when used in this
Agreement shall be deemed to be followed by the phrase “without limitation”. Unless the context otherwise requires, references in this Agreement to Articles, Sections, Annexes, Exhibits and Schedules shall be deemed references to Articles
and Sections of, and Annexes, Exhibits and Schedules to, this Agreement. Unless the context otherwise requires, the words “hereof”, “hereby” and “herein” and words of similar meaning when used in this Agreement refer to
this Agreement in its entirety and not to any particular Article, Section or provision of this Agreement. The words “written request” when used in this Agreement shall include email. Reference in this Agreement to any time shall be to New
York City, New York time unless otherwise expressly provided herein. The word “or” indicates an alternative, but not a mutually exclusive alternative unless clearly indicated as being mutually exclusive, such as when preceded in a clause
by the word “either”. 
 ARTICLE II 

 GRANTS OF RIGHTS  

Section 2.1 License to Versum of Air Products Licensed IP. 

(a) Air Products’ Licensed Patents. Subject to the terms and conditions of this Agreement, acting on behalf of itself and its
Affiliates, Air Products hereby grants Versum an exclusive, irrevocable, royalty-free, fully paid-up, sublicenseable, worldwide license in, to and under the Air Products Licensed Patents, to make, have made, offer for sale, sell, import, export and
use within the “Versum Field of Use” set out in Schedule E. 
 (b) Air Products Licensed Engineering and Process Standards and
Policies. Subject to the terms and conditions of this Agreement, acting on behalf of itself and its Affiliates, Air Products hereby grants Versum a non-exclusive, royalty-free, fully paid-up, license to Air Products’ Engineering Standards
set out in Schedule B and Air Products’ EHS Standards set out in Schedule C, for Versum’s internal use only, for the purpose of starting new or sustaining continuing operations until which time Versum adopts its own standards, but in no
case for a period of time exceeding 12 months from the Effective Date of this Agreement. As part of the process of adopting such a standard or policy, Versum shall (i) remove, strike over, or otherwise obliterate any and all reference to Air
Products and its Affiliates and (ii) delete any material or provisions not applicable to the Versum Assets from the applicable Air Products Licensed Engineering and Process Standards and Policies used in creating such adopted standard or policy
and shall cease to make any use of any reference to Air Products or its Affiliates in connection therewith. Notwithstanding anything to the contrary herein, such license under this Section 2.1(b) shall be further limited to only
practicing such Air Products Licensed Engineering and Process Standards and Policies at any location where Versum Assets, including future Versum Assets, are situated and only to the extent necessary to build, maintain and operate the Versum Assets.

  
 9 

 (c) Sublicenses. Versum may sublicense its rights under Section 2.1(a) to its
Affiliates and Third Parties (each being a “Versum Sublicensee”). With respect to Air Products Licensed Engineering Standards and Policies, Versum may sublicense its rights under Section 2.1(b) only to such of its
Affiliates which are operating or maintaining, or will operate or maintain in the future, Versum Assets, in each case only in connection with the maintenance and operation of the applicable Versum Assets. 

Section 2.2 Licenses to Air Products of Versum Licensed IP. 

(a) Versum Licensed Patents. Subject to the terms and conditions of this Agreement, acting on behalf of itself and its Affiliates,
Versum hereby grants Air Products a non-exclusive, irrevocable, royalty-free, fully paid-up, non-sublicenseable, worldwide license in, to and under the Versum Licensed Patents set out in Schedule D to make, have made, offer for sale, sell, import,
export and use, including the right for customers to use. 
 (b) Versum Licensed Megasys Know-How. Subject to the terms and
conditions of this Agreement, acting on behalf of itself and its Affiliates, Versum hereby grants Air Products an exclusive, irrevocable, royalty-free, fully paid-up, sublicenseable, license in, to and under the Megasys know-how and process
information set out in Schedule F, to allow Air Products to perform under the contract dated April 9, 2008, with ON SEMICONDUCTOR for their plant in Roznov pod Radhostem, Czech Republic (the “On Semi Roznov Contract”). This
license is limited to performance under this specific contract, and shall continue for the duration of this contract or any extensions thereof. Upon termination of this contract, or any extensions thereof, Air Products will, within fifteen
(15) business days of any request by Verum, return to Versum or, at Air Products’ election, destroy or delete all copies of the Licensed Megasys Know-How that are in their possession or control, except that Air Products may retain one copy
in their Legal Department for record purposes only. 
 Section 2.3 By-Products, Impurities and Intermediates. 

For the avoidance of doubt, subject to the terms and conditions of this Agreement, the rights granted under Sections 2.1 and 2.2
shall include the rights to make or have made any by-product, impurity or intermediate of any process made in connection with exercising such rights granted herein, in each case without limiting any of the restrictions and exclusions hereunder. 

Section 2.4 Reservation of Rights. 

Except as provided in the Separation Agreement or any Ancillary Agreement, each Party reserves its and its Affiliates’ rights in and to
all Intellectual Property that is not expressly licensed or otherwise granted hereunder. Without limiting the foregoing, this Agreement and the licenses and rights granted herein do not, and shall not be construed to, confer any rights upon either
Party, its Affiliates, or its sublicensees by implication, estoppel, or otherwise as to any of the other Party’s or its Affiliates’ Intellectual Property, except as otherwise expressly set forth herein. 

  
 10 

 Section 2.5 Third Party Rights. 

Notwithstanding anything to the contrary herein, the licenses granted under this Agreement, including any exclusivity thereof, are subject to
any rights of or obligations owed to any Third Parties with respect to the applicable Licensed IP pursuant to agreements existing as of the Effective Date between the applicable Licensor or its Affiliates and such Third Parties. 

ARTICLE III 
 
PROSECUTION AND MAINTENANCE; OWNERSHIP  
 Section 3.1 Responsibility and Cooperation. 

(a) Subject to Section 3.2, Licensor shall be solely responsible for filing, prosecuting, and maintaining all Patents within the
Licensed IP owned by Licensor. Licensor shall be responsible for all costs associated with filing, prosecuting, and maintaining such Patents. Without limiting the foregoing, each Licensor shall use commercially reasonable efforts to prosecute and
maintain in good faith all Patents licensed under this Agreement. 
 (b) Licensee shall reasonably cooperate with Licensor with respect to
providing such information or taking such other actions as may be necessary in order to protect each Party’s rights in the Licensed IP in connection with requirements or provisions of applicable Laws in local jurisdictions. 

(c) The Parties agree to reasonably cooperate with each other with respect to preparing instruments to record Licensee as the licensee of the
Licensed IP in any applicable foreign Governmental Entity or registrar where such recordation is required, in each case as and to the extent so required under the applicable Laws of such jurisdictions, and Licensee shall have the right to record
such instrument with the applicable Governmental Entity or registrar, in each case at Licensee’s sole cost and expense. Notwithstanding anything to the contrary in any such instrument, to the extent of any conflict or inconsistency between this
Agreement and such instrument, this Agreement shall control. For clarity and without limiting the foregoing, any such instrument may or may not refer to this Agreement or include disclaimers, limitations or exceptions with respect to the Licensed IP
or the licenses thereto and may be dated as of, before or after the Effective Date. 
 Section 3.2 Failure to Prosecute or Maintain.

 (a) In the event that either Party as Licensor decides to forego prosecution or maintenance of a Patent for which it is allocated
responsibility pursuant to Section 3.1, such Licensor (the “Abandoning Party”) shall use commercially reasonable efforts to provide written notice to Licensee at least thirty (30) days prior to the final deadline
for taking a necessary step to continue to prosecute or maintain the applicable Patent (such notice, the “Assumption Notice”). Upon receipt of such Assumption Notice, such Licensee will have the option of assuming responsibility for
such prosecution and maintenance at its sole expense. If such Licensee elects to assume responsibility for prosecution and maintenance pursuant to this Section 3.2, such Licensee shall notify the Abandoning Party in writing of such
election within thirty (30) days and the Abandoning Party shall assign its entire right, title and interest in such Patent to Licensee; provided that the Abandoning Party shall: 

  
 11 

 (i) retain (and is hereby granted) a license with respect to the applicable
Patent consistent with Section 2.1 (if the Abandoning Party is Versum, such Patent shall thereafter be deemed an Air Products Licensed Patent hereunder) or Section 2.2 ( if the Abandoning Party is Air Products, such Patent
shall thereafter be deemed a Versum Licensed Patent (as applicable) hereunder), and 
 (ii) have no other obligation thereby
to assign any related Patents or Patent applications, including any Patents or Patent applications in such assigned Patent’s family. 

(b) For avoidance of doubt, if the applicable Licensee does not notify the Abandoning Party of its election in writing within thirty
(30) days following the applicable Assumption Notice from the Abandoning Party, such Licensee shall be deemed to have elected to not assume responsibility for prosecution and maintenance pursuant to this Section 3.2 and the Licensor
may abandon such Patent or decide not to abandon such Patent. 
 (c) Neither Licensor shall be liable to any Licensee for any inadvertent,
unintentional or unavoidable abandonment of any Patent of such Licensor. The assignee Party shall be responsible for preparing and filing assignment documents required for completing formalities to assign the applicable Patent pursuant to
Section 3.2(a). In the event of an assignment of a Patent pursuant to Section 3.2(a), the Parties agree to reasonably cooperate in executing appropriate assignment documents provided by the assignee Party to complete such
formalities, such as powers of attorney and documents for recording assignments for all such assigned Patents, upon request from the assignee Party. All out-of-pocket expenses associated with preparing and recording any assignment of a Patent under
Section 3.2(a) shall be paid by the assignee Party. For the avoidance of doubt, the assignee shall become responsible for all prosecution or maintenance as of the date of the notice indicating its desires for the assignment as well as
for all payments due to continue or maintain the Patent, including any expenses for legal services, fees and the like. If a Patent is assigned under Section 3.2(a), then, unless otherwise agreed in writing, the assignee may abandon such
Patent without notice or obligation of assignment to the other Party. 
 (d) Notwithstanding the foregoing, each Licensor shall be
(i) free to abandon pending patent applications and (ii) shall have no obligation to file any national or regional application based on any international or regional patent applications or filings (including any PCT or EPO applications)
whether or not designated under such applications or filings, without any obligation of notice or assignment to the Licensee. 
 (e) For the
purposes of this Section 3.2, notices concerning abandoning and assignment of Patents shall be sent in accordance with Section 8.6 herein. 

Section 3.3 Sale of Licensed Patents by Licensor. Licensor and its Affiliates shall be free to sell, convey or transfer any Patent
licensed by it hereunder so long as the sale, conveyance or transfer is accomplished subject to any rights hereunder of each Licensee and its Affiliates. 

  
 12 

 Section 3.4 Ownership. As between the Parties, Licensee acknowledges and agrees that
(i) Versum owns the Versum Licensed Patents, and Air Products owns the Air Products Licensed IP, (ii) except as provided in Section 3.2, neither Licensee, nor its Affiliates or its sublicensees, will acquire any ownership
rights in the Licensed IP owned by the Licensor, and (iii) Licensee shall not, and shall cause its Affiliates and its sublicensees to not, represent that they have an ownership interest in any of the Licensed IP owned by the Licensor. 

Section 3.5 No Additional Obligations. This Agreement shall not obligate either Party to disclose to the other Party, or maintain,
register, prosecute, pay for, enforce, or otherwise manage any Intellectual Property except as expressly set forth herein. 
 ARTICLE IV

  ENFORCEMENT  

Section 4.1 Notification. If Licensee becomes aware of (a) any Third Party activities that constitute, or would reasonably be
expected to constitute, an infringement, misappropriation, or other violation of any Licensed IP licensed to such Licensee in the field where the Licensee has an exclusive license hereunder (“Third Party Infringement”) or
(b) any written Third Party allegations of invalidity or unenforceability of any Licensed IP licensed to such Licensee (“Invalidity Allegations”), Licensee shall promptly notify Licensor thereof in writing. 

Section 4.2 Defense and Enforcement. Licensor shall have the sole initial right, but not the obligation, to elect to bring an Action or
enter into settlement discussions regarding Third Party Infringements and Invalidity Allegations with respect to any Licensed IP at Licensor’s sole expense. If Licensor does not bring such an action or enter into settlement discussions with
respect to such Licensed IP within one-hundred eighty (180) days after receiving notice from Licensee pursuant to Section 4.1, Licensee shall have the right to bring an Action or enter into settlement discussions regarding such
Third Party Infringement or Invalidity Allegations at its sole expense; provided, further, that (i) notwithstanding the above, if Licensor does not bring such an Action or does not notify Licensee of its election to bring such an
Action for a Third Party Infringement or to defend an Invalidity Allegation with respect to such Licensed IP by twenty (20) Business Days before the deadline for filing the applicable filing or response, such Licensee shall have the right to
bring an Action regarding such Third Party Infringement or Invalidity Allegations at its sole expense, and (ii) Licensor shall have no liability for failing to so notify Licensee as provided in this Section 4.2. The Party that
elects to bring an Action or enters into settlement discussions in accordance with this Section 4.2 (the “Enforcing Party”) shall control such Action or settlement discussions (as applicable). Notwithstanding the
foregoing, if Invalidity Allegations arise in an opposition, interference, reissue proceeding, reexamination or other proceeding before any patent office, the Licensor of the applicable Patent shall have the exclusive right to defend such Invalidity
Allegations or enter into settlement discussions with respect thereto. 
  

  
 13 

 Section 4.3 Cooperation. If the Enforcing Party brings an Action or enters into settlement
discussions in accordance with Section 4.2, the other Party shall provide reasonable assistance in connection therewith, at the Enforcing Party’s request and expense. The Enforcing Party shall keep the other Party regularly informed
of the status and progress of such Action or settlement 
 discussions and shall reasonably consider comments of the other Party in connection therewith.
Notwithstanding anything to the contrary herein, such other Party may, at its sole discretion and expense, join as a party to such Action or proceeding; provided that if necessary for standing purposes, such Party shall so join such Action or
proceeding upon the Enforcing Party’s reasonable request and at the Enforcing Party’s expense. Such other Party shall have the right to be represented by counsel (which shall act in an advisory capacity only, except for matters solely
directed to such Party) of its own choice in any such Action or proceeding at its own expense. 
 Section 4.4 Settlements.
Notwithstanding anything to the contrary herein, the Enforcing Party shall not settle any Third Party Infringement or Invalidity Allegations without the prior written consent (not to be unreasonably withheld) of (i) Air Products (if Versum is
the Enforcing Party) or (ii) Versum (if Air Products is the Enforcing Party), in each case if doing so would (a) adversely affect the validity, enforceability, or scope, or admit non-infringement, of any Licensed IP owned by the other
Party as Licensor, or (b) give rise to liability or any other obligations of the other Party, its Affiliates, or its sublicensees for which the Party settling the matter is unwilling or unable to, and otherwise does not, provide full
indemnification. 
 Section 4.5 Costs, Expenses, and Damages. Any and all amounts recovered by the Enforcing Party in any Action
regarding a Third Party Infringement or Invalidity Allegation or settlement thereof shall, unless otherwise agreed, including in an agreement in connection with obtaining consent to settlement, be allocated first to reimburse the Enforcing
Party’s out-of-pocket costs and expenses incurred in connection with such Action or settlement and next to reimburse Air Products’ (if Versum is the Enforcing Party) or Versum’s (if Air Products is the Enforcing Party) out-of-pocket
costs and expenses incurred in connection with such Action or settlement. Any and all such recovered amounts remaining following such initial allocation shall be retained by the Enforcing Party. 

ARTICLE V 
 
DISCLAIMERS; LIMITATIONS OF LIABILITY; OTHER COVENANTS  
 Section 5.1 Disclaimer. NOTWITHSTANDING ANY OTHER PROVISION OF
THIS AGREEMENT TO THE CONTRARY, ALL LICENSES IN THIS AGREEMENT, INCLUDING WITH RESPECT TO ALL PATENTS AND KNOW-HOW (INCLUDING THE AIR PRODUCTS LICENSED ENGINEERING AND PROCESS STANDARDS AND POLICIES) ARE BEING MADE WITHOUT ANY REPRESENTATION OR
WARRANTY OF ANY NATURE (A) AS TO THEIR VALUE OR FREEDOM FROM ANY SECURITY INTERESTS; (B) AS TO TITLE, NONINFRINGEMENT, VALIDITY, ACCURACY OF INFORMATIONAL CONTENT, MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE (WHETHER OR NOT A PARTY
OR ITS AFFILIATES KNOWS OR HAS REASON TO KNOW ANY SUCH PURPOSE) OR ANY OTHER MATTER, INCLUDING ANY WARRANTY (EXPRESS OR IMPLIED, ORAL OR WRITTEN), WHETHER 

  
 14 

 
ALLEGED TO ARISE BY LAW, BY REASON OF CUSTOM OR USAGE IN THE TRADE, BY COURSE OF DEALING OR OTHERWISE; OR (C) AS TO THE LEGAL SUFFICIENCY TO GRANT ANY RIGHTS THEREIN AND AS TO ANY CONSENTS
OR APPROVALS (INCLUDING APPROVALS FROM ANY GOVERNMENTAL ENTITIES) REQUIRED IN CONNECTION HEREWITH OR THEREWITH, AND NEITHER PARTY, NOR ANY OF ITS REPRESENTATIVES, MAKES OR HAS MADE ANY REPRESENTATION OR WARRANTY, AND HEREBY EXPRESSLY DISCLAIMS ALL
OTHER REPRESENTATIONS AND WARRANTIES, EXPRESS OR IMPLIED, WRITTEN OR ORAL, AT LAW OR IN EQUITY, IN CONNECTION WITH THIS AGREEMENT, INCLUDING WITH RESPECT TO THE LICENSED IP, INCLUDING WITH RESPECT TO THE MATTERS DESCRIBED IN THE FOREGOING CLAUSES (
A )-(C). WITHOUT LIMITING THE FOREGOING, EACH LICENSEE HEREBY ACKNOWLEDGES AND AGREES THAT ALL LICENSES IN THIS AGREEMENT ARE BEING MADE “AS IS, WHERE IS,” AND, INTER ALIA, SUBJECT TO ANY AGREEMENTS OF THE PARTIES EXISTING AS OF THE
EFFECTIVE DATE, AND EACH LICENSEE SHALL BEAR THE ECONOMIC AND LEGAL RISKS THAT ANY LICENSES IN THIS AGREEMENT SHALL PROVE TO BE INSUFFICIENT OR OTHERWISE IMPAIRED. 

Section 5.2 Limitations on Liability. NOTWITHSTANDING ANY OTHER PROVISION OF THIS AGREEMENT TO THE CONTRARY, AND EXCEPT AS SET FORTH
IN, AND SUBJECT TO, THE SEPARATION AGREEMENT, AND EXCEPT TO THE EXTENT PROHIBITED BY APPLICABLE LAW, NO PARTY SHALL BE LIABLE TO ANY OTHER PARTY OR ANY THIRD PARTY FOR ANY PUNITIVE, SPECIAL, CONSEQUENTIAL, EXEMPLARY, INCIDENTAL OR INDIRECT DAMAGES
(INCLUDING LOST OR ANTICIPATED REVENUES OR PROFITS OR LOSS OF BUSINESS REPUTATION OR OPPORTUNITY RELATING TO THE SAME), ARISING FROM ANY CLAIM RELATING TO THIS AGREEMENT, INCLUDING THE BREACH OR ALLEGED BREACH OF THIS AGREEMENT, WHETHER SUCH CLAIM
IS BASED ON WARRANTY, CONTRACT, STATUTE, TORT (INCLUDING NEGLIGENCE OR STRICT LIABILITY) OR OTHERWISE, EVEN IF AN AUTHORIZED REPRESENTATIVE OF SUCH PARTY IS ADVISED OF THE POSSIBILITY OR LIKELIHOOD OF SAME, AND WHETHER OR NOT ARISING FROM THE OTHER
PARTY’S SOLE, JOINT, OR CONCURRENT NEGLIGENCE, STRICT LIABILITY, CRIMINAL LIABILITY, OR OTHER FAULT. 
 Section 5.3 Compliance.
All activities of Air Products and Versum and their respective Affiliates pursuant to this Agreement shall comply with all applicable Laws, including the export control Laws of the United States. 

ARTICLE VI 
 
CONFIDENTIALITY  
 Section 6.1 Disclosure and Use Restrictions. It is acknowledged that, due to the fact that prior to the
Separation Agreement the Parties hereto operated as a single company, each Party may possess Confidential Technical Information of the other Party, and also that in carrying out the objectives of this Agreement, as well as the Separation Agreement,
each Party 

  
 15 

 
may disclose Confidential Technical Information to the other Party. Except as expressly provided herein, each Recipient agrees that it shall, and shall cause its Affiliates and its sublicensees
to keep confidential and shall not publish or otherwise disclose any Confidential Technical Information of the other Party. A Recipient may use Confidential Technical Information of the Disclosing Party only for the express purpose for which the
information was disclosed or to the extent within its licensed or retained rights thereto under this Agreement. The restrictions in the two immediately preceding sentences shall not apply to disclosure of Confidential Technical Information as to
which a Party is a Recipient: 
 (a) to the Recipient’s Affiliates or its or their respective directors, officers, employees, agents,
contractors and advisors (“Representatives”) to the extent reasonably necessary for the Recipient to perform its obligations or exercise its rights under this Agreement; provided that such Representatives have undertaken an
obligation of secrecy through an agreement with Recipient or its Affiliate or through professional ethical obligations arising out of a professional relationship with Recipient or its Affiliate; 

(b) pursuant to an order of a court or other Governmental Entity or as required by applicable Law (including if required by applicable Law in
connection with a Recipient’s good-faith pursuit of a bona fide business interest); provided that the Recipient provides the Disclosing Party to the extent practicable with reasonable advance written notice thereof and uses diligent and
commercially reasonable efforts and reasonably cooperates with the Disclosing Party to obtain confidential treatment and, if available, an appropriate protective order therefor, if applicable, and only furnishes that Confidential Technical
Information that it is advised by counsel that it is legally required to furnish; and 
 (c) to Recipient’s licensees or sublicensees
to the extent reasonably necessary to enable such Persons to exercise any license or sublicense rights (as applicable) that they have been granted to or retained under the Licensed IP; provided that they are subject to obligations of
confidentiality and non-use at least equivalent in scope to those set forth in this Article VI. 
 Section 6.2 Notification by the
Receiving Party. The Recipient shall promptly notify the Disclosing Party of any unauthorized possession, use or knowledge, or attempt thereof, of Confidential Technical Information of the Disclosing Party by any Person which may become known to
the Recipient. 
 Section 6.3 Air Products Licensed Engineering and Process Standards and Policies. Notwithstanding any other
provision of this Agreement, the Air Products Licensed Engineering and Process Standards and Policies licensed hereunder shall (a) not be disclosed or provided by Versum to any Person or Affiliate other than those Persons or Affiliates (and in
the case of those Standards labelled “internal use only” in the Schedules, only to Affiliates) that have a reasonable need to access such information for purposes of conducting the Versum Business (subject to the terms hereof) and are
under an obligation to maintain the confidentiality thereof, (b) not include any other Know-How (including any standards, tools, and documents) referenced but not specifically and fully disclosed, explicated, and set forth therein, (c) be
implemented and used by Versum and its Affiliates subject to their own training with respect thereto (and Air Products shall have no obligation with respect to any such training), and (d) be destroyed by Versum, or any of its Affiliates, in
relevant part, upon Versum or any of its Affiliates determining that the same has become obsolete or superseded by any other standard, protocol, policy, or process (or following a Change of Control as provided in Section 7.2). The
Parties acknowledge that from time to time applicable Law may conflict with and supersede aspects of Air Products Licensed Engineering and Process Standards and Policies. 

  
 16 

 Section 6.4 Transfer of Know-How. For the avoidance of doubt, unless specifically stated
otherwise, nothing under this Agreement shall obligate Licensor to provide or otherwise make available to Licensee any copies or embodiments of any Know-How or make or provide or otherwise make available to Licensee any updates to any Know-How (even
if Licensor or its Affiliates updates same for their own use). 
 Section 6.5 Survival. The confidentiality and nondisclosure
obligations of this Article VI shall survive the expiration or termination of this Agreement for a period of 20 years from the Effective Date. 

ARTICLE VII 
  TERM
 
 Section 7.1 Term. Except as provided in Section 7.2, the terms of the licenses and other grants of rights
under this Agreement shall as applicable, survive any expiration or earlier termination of this Agreement, and shall extend for the following durations: (a) with respect to each patent that is included in Licensed IP, until expiration of the
last Valid Claim included in such patent; (b) with respect to Air Products Licensed Engineering Standards and Policies, for the adoption period set out in Section 2.1(b); and (c) with respect to the Versum Licensed Megasys Know
How, until the expiration of the On Semi Roznov Contract as set out in Section 2.2(b). Except as otherwise expressly set forth in Section 7.2, or elsewhere in this Agreement, or unless one Party is in material breach of any
of the terms and conditions herein and such breach is not cured within ninety (90) days of receiving Notice, this Agreement may not be terminated unless agreed to in writing by the Parties. 

Section 7.2 Termination of Licenses to the Air Products Licensed Engineering Process Standards and Policies for Change of Control. 

(a) In the event of a Change of Control of Versum or any of its Affiliates, the licenses granted to Versum with respect to the Air Products
Licensed Engineering and Process Standards and Policies shall immediately and automatically terminate; provided that Versum shall, for a period not to exceed 30 days from the Change of Control and subject to and only to the extent permitted
under Section 2.1(b), be permitted to continue to use such Air Products Licensed Engineering and Process Standards and Policies at locations where they are currently being used to the extent necessary to operate and maintain the
applicable Versum Assets (subject to the terms hereof) and transition to alternative engineering process standards and policies. 
  

  
 17 

 (b) Upon termination (pursuant to Section 7.2(a)) of the license granted in
Section 2.1(b), Versum shall, and shall ensure that the Versum Sublicensees, within fifteen (15) Business Days of any request by Air Products following expiration of the transition period set forth in Section 7.2(a), use
their best efforts to return to Air Products or, at Versum’s election, destroy all Air Products Licensed Engineering and Process Standards and Policies that are in their possession or control, and Versum shall provide to Air Products a
certification from a duly authorized officer of Versum certifying that Versum has, to the extent possible, destroyed all such Air Products Licensed Engineering and Process Standards and Policies, including all copies, adaptations, translations and
derivative works thereof. 
 ARTICLE VIII 

MISCELLANEOUS 

Section 8.1 Amendment. This Agreement may not be modified or amended except by an agreement in writing signed by the Parties. 

Section 8.2 Waiver. Any consent required or permitted to be given by any Party to the other Party under this Agreement shall be in
writing and signed by the Party giving such consent and shall be effective only against such Party. No failure or delay on the part of any Party in the exercise of any right hereunder shall impair such right or be construed to be a waiver of, or
acquiescence in, any breach of any representation, warranty, or agreement herein, nor shall any single or partial exercise of such right preclude other or further exercise thereof or any other right. 

Section 8.3 Complete Agreement. This Agreement, including the Schedules hereto, shall constitute the entire agreement between the
Parties with respect to the subject matter hereof and shall supersede all previous negotiations, commitments, course of dealings and writings with respect to such subject matter. 

Section 8.4 Assignment. This Agreement shall not be assignable, in whole or in part, directly or indirectly, by any Party without the
prior written consent of the other Party (not to be unreasonably withheld or delayed), and any attempt to assign any rights or obligations arising under this Agreement without such consent shall be void. Notwithstanding the foregoing, this Agreement
shall be assignable, in whole or in part, to (i) an Affiliate or (ii) a bona fide Third Party in connection with a merger, reorganization, consolidation or the sale or other transfer of all or a portion of the business or assets of a Party
or its Affiliates to which this Agreement relates, so long as the resulting, surviving or transferee entity assumes all of the applicable obligations of the relevant Party by operation of law or pursuant to a written agreement (provided that for
clarity, Versum shall not assign any of its rights hereunder with respect to the Air Products Licensed Engineering and Process Standards and Policies without Air Products’ prior written consent, except, subject to Section 7.2, in
the case of a Change of Control). No assignment permitted by this Section 8.4 shall release the assigning Party from liability for the full performance of its obligations under this Agreement prior to such assignment (or, with respect to
any assignments of this Agreement in part, following such assignment with respect to such parts of this Agreement not so assigned). At the written request of a Party, the other Party shall promptly notify the requesting Party in writing of all
Persons to which this Agreement or any part hereof has been assigned (and provide any other information reasonably requested in connection therewith). 
  

  
 18 

 Section 8.5 Severability. In the event any one or more of the provisions contained in this
Agreement should be held invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein shall not in any way be affected or impaired thereby. The Parties shall endeavor in
good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions, the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. 

Section 8.6 Notices. Without limiting Section 8.7, all notices, requests, claims, demands, and other communications
hereunder shall be in English, shall be in writing and shall be given or made (and shall be deemed to have been duly given or made upon receipt) by delivery of an original via overnight courier service or by registered or certified mail (postage
prepaid, return receipt requested) to the respective Parties at the following addresses (or at such other address for a Party as shall be specified in a notice given in accordance with this Section 8.6): 

If to Versum, to: 
 7201 Hamilton
Boulevard 
 Allentown, Pennsylvania 18195-1501 

Attn: General Counsel 

Facsimile: (610) 481-8223 

And provide an additional copy to: 

7201 Hamilton Boulevard 

Allentown, Pennsylvania 18195-1501 

Attn: Corporate Secretary 

Facsimile: (610) 481-8223 

If to Air Products, to: 
 7201
Hamilton Boulevard 
 Allentown, Pennsylvania 18195-1501 

Attn: General Counsel 

Facsimile: (610) 481-7009 

And provide an additional copy to: 

7201 Hamilton Boulevard 

Allentown, Pennsylvania 18195-1501 

Attn: Corporate Secretary 

Facsimile: (610) 481-7009 
 or to such
other address as the Person to whom notice is given may have previously furnished to the others in writing in the manner set forth above (provided that notice of any change of address shall be effective only upon receipt thereof). 

  
 19 

 Section 8.7 Governing Law. This Agreement shall be governed by and construed in accordance
with the laws of the State of Delaware, regardless of the laws that might otherwise govern under applicable principles of conflicts of laws thereof; provided that all questions concerning the construction or effect of patent applications and
patents, and the provisions of this Agreement concerning Patent Challenges, shall be decided in accordance with the laws of the country in which the particular patent application or patent concerned has been filed or granted, as the case may be.

 Section 8.8 Dispute Resolution. Any Disputes (as defined in the Separation Agreement) arising under this Agreement shall be
handled in accordance with the terms set out in Article VIII of the Separation Agreement. 
 Section 8.9 Bankruptcy. All rights and
licenses granted under or pursuant to this Agreement by a Licensor are, and will otherwise be deemed to be, for purposes of Section 365(n) of the United States Bankruptcy Code, licenses of rights to “intellectual property” as defined
under Section 101 of the United States Bankruptcy Code regardless of the form or type of intellectual property under or to which such rights and licenses are granted and regardless of whether the intellectual property is registered in or
otherwise recognized by or applicable to the United States of America or any other country or jurisdiction. The Parties agree that the Parties, as licensees of such rights under this Agreement, will retain and may fully exercise all of their rights
and elections under the United States Bankruptcy Code. The Parties further agree that, in the event of the commencement of a bankruptcy proceeding by or against a Party under the United States Bankruptcy Code, the Party hereto that is not a Party to
such proceeding will be entitled to a complete duplicate of (or complete access to, as appropriate) any such intellectual property and all embodiments of such intellectual property, which, if not already in the non-subject Party’s possession,
will be promptly delivered to it (a) upon any such commencement of a bankruptcy proceeding upon the non-subject Party’s written request therefore, unless the Party subject to such proceeding continues to perform all of its obligations
under this Agreement or (b) if not delivered under clause (a) above, following the rejection of this Agreement by or on behalf of the Party subject to such proceeding upon written request therefore by the non-subject Party. 

Section 8.10 Title and Headings. Titles and headings to sections herein are inserted for the convenience of reference only and are not
intended to be a part of or to affect the meaning or interpretation of this Agreement. 
 Section 8.11 Counterparts. This Agreement
may be executed in more than one counterpart, all of which shall be considered one and the same agreement, and shall become effective when one or more such counterparts have been signed by each of the Parties and delivered to each of the Parties.
Facsimile transmission (including the e-mail delivery of documents in Adobe PDF format) of any signed original counterpart and/or retransmission of any signed facsimile transmission shall be deemed the same as the delivery of an original. 

Section 8.12 Expenses. Whether or not the transactions contemplated by this Agreement are consummated, and except as otherwise
expressly set forth herein, all costs and expenses (including legal fees, accounting fees, investment banking fees, and filing fees) incurred in connection with the transactions contemplated by this Agreement shall be paid by the Party incurring
such expenses. 

  
 20 

 Section 8.13 Parties in Interest. The provisions of this Agreement and the obligations and
rights hereunder shall be binding upon, inure to the benefit of and be enforceable by (and against) the Parties and their respective successors and permitted transferees and assigns. Nothing in this Agreement, express or implied, is intended to
confer upon any Person other than Air Products and Versum including their respective Subsidiaries, successors and permitted transferees and assigns, any rights or remedies under or by reason of this Agreement. 

Section 8.14 Construction. The Parties acknowledge that each Party and its counsel have reviewed and revised this Agreement and that
any rule of construction to the effect that any ambiguities are to be resolved against the drafting Party shall not be employed in the interpretation of this Agreement. 

Section 8.15 Relationship of the Parties. Nothing contained herein shall be deemed to create a partnership, joint venture, or similar
relationship between the Parties. Neither Party is the agent, employee, joint venture, partner, franchisee, or representative of the other Party. Each Party specifically acknowledges that it does not have the authority to, and shall not, incur any
obligations or responsibilities on behalf of the other Party. Notwithstanding anything to the contrary in this Agreement, each Party (and its officers, directors, agents, employees, and members) shall not hold themselves out as employees, agents,
representatives, or franchisees of the other Party or enter into any agreements on such Party’s behalf. 

  
 21 

 IN WITNESS WHEREOF, the Parties have caused this Agreement to be duly executed as of the
day and year first above written.  
  

			
	AIR PRODUCTS AND CHEMICALS, INC.
		
	By:	 	 /s/ M. Scott Crocco

		 	Name: M. Scott Crocco
		 	Title: Senior Vice President and Chief Financial           Officer
	
	VERSUM MATERIALS U.S., LLC.
		
	By:	 	 /s/ Guillermo Novo

		 	Name: Guillermo Novo
		 	Title: President and Chief Executive Officer

 [Signature Page to Intellectual Property Cross-License]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00262-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00262-of-00352.parquet"}]]