SEC Contract Filing

Filing Date: 2024-11-20

Document Content:
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>tm2428909d1_ex10-2.htm
<DESCRIPTION>EXHIBIT 10.2
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: right; margin: 0"><B>Exhibit 10.2</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CHANGE IN CONTROL AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">THIS AGREEMENT, dated
November&nbsp;18, 2024 between QUAKER CHEMICAL CORPORATION, d/b/a QUAKER HOUGHTON, a Pennsylvania corporation (the
&ldquo;Company&rdquo;) and Joseph A. Berquist (the &ldquo;Manager&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>W I T N E S S E T H &nbsp;T H A T</B></P>

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<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">WHEREAS, the Board of Directors of the Company
has determined that it is in the best interests of the Company and its shareholders that the Company and its subsidiaries be able to attract,
retain, and motivate highly qualified management personnel and, in particular, that they be assured of continuity of management in the
event of any actual or threatened change in control of the Company; and</P>

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<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">WHEREAS, the Board of Directors of the Company
believes that the execution by the Company of change in control agreements with certain management personnel, including the Manager, is
an important factor in achieving this desired end;</P>

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<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">NOW, THEREFORE,&nbsp;IN CONSIDERATION of the mutual
obligations and agreements contained herein and intending to be legally bound hereby, the Manager and the Company agree that the Change
in Control Agreement is amended and restated, as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>1.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Term
of Agreement</U>.</B></P>

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<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This Agreement shall become effective on your start
date with the Company (the &ldquo;Effective Date&rdquo;), and shall continue in effect through December&nbsp;31, 2024, provided, however,
that the term of this Agreement shall automatically be extended for successive one-year periods thereafter, unless, not later than eighteen
(18) months preceding the calendar year for which the term would otherwise automatically extend, the Company shall have given written
notice to the Manager of intention not to extend this Agreement for an additional year, in which event this Agreement shall continue in
effect until December&nbsp;31 of the calendar year immediately preceding the calendar year for which the term would have otherwise automatically
extended. Notwithstanding any such notice not to extend, if a Change in Control (as defined in Section&nbsp;2) occurs during the original
or extended term of this Agreement, this Agreement shall remain in effect after a Change in Control until all obligations of the parties
hereto under this Agreement shall have been satisfied.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>2.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Change
in Control</U>.</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As used in this Agreement, a &ldquo;Change in Control&rdquo;
of the Company shall be deemed to have occurred if:</P>

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<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Any
person (a &ldquo;Person&rdquo;), as such term is used in Sections 13(d)&nbsp;and 14(d)&nbsp;of the Securities Exchange Act of 1934, as
amended (the &ldquo;Exchange Act&rdquo;) (other than (i)&nbsp;the Company and/or its wholly owned subsidiaries; (ii)&nbsp;any ESOP or
other employee benefit plan of the Company and any trustee or other fiduciary in such capacity holding securities under such plan; (iii)&nbsp;any
corporation owned, directly or indirectly, by the shareholders of the Company in substantially the same proportions as their ownership
of stock of the Company; or (iv)&nbsp;any other Person who, within the one year prior to the event which would otherwise be a Change in
Control, is an executive officer of the Company or any group of Persons of which he voluntarily is a part), is or becomes the &ldquo;beneficial
owner&rdquo; (as defined in Rule&nbsp;13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing
30% or more of the combined voting power of the Company&rsquo;s then outstanding securities or such lesser percentage of voting power,
but no