exhibit 10. 21 univar inc. human resources policies and procedures management incentive plan – exempt effective date supersedes page 1 jan 2015 2014 mip 1 of 7 univar inc. human resources policies and procedures management incentive plan – exempt effective date supersedes page 1 jan 2015 2014 mip 1 of 7 a. policy. the management incentive plan ( mip or plan ) is designed to motivate key employees to achieve specific objectives that will help the company grow, be profitable, and effectively manage and use its capital. the mip focuses attention on key objectives, encourages planning and teamwork to achieve them, and enables participants to see a direct link between their contribution to the company ’ s success and their compensation. b. effective date. the plan was approved by the univar inc. compensation committee substantially in the form set forth herein on february 28, 2015, and, as amended, is effective january 1, 2015, or such later date as may be required to comply with the requirements of irc section 162 ( m ) when it is approved by the company ’ s shareholders. the plan will remain in effect until such time as the compensation committee may elect to suspend, amend, or terminate it. provided that, if subject to shareholder approval, the plan shall not extend for a period beyond that approved by the shareholders or as required by law. c. eligibility. 1. participants. designated executives, managers and other key employees who work for the company or one of its subsidiaries for more than one consecutive month during a plan year are eligible to participate in the mip. 2. participant categories. eligible participants must be in one of the following categories : a. exempt participants. participants who work in positions considered exempt from overtime pay under the wage - hour laws, but who are not in an eligible sales, supervisory, management or executive position. b. sales participants. participants who work in eligible sales positions not covered under the sales incentive plan ( policy # 460 ) or specific business unit incentive plan. univar inc. management incentive plan – exempt ( 2014 ) page 2 of 7 c. supervisory participants. participants who work in positions considered exempt from overtime pay under the wage - hour laws, and who are in an eligible supervisory position. d. management participants. participants who work in positions considered exempt from overtime pay under the wage - hour laws, and who are in an eligible management position. e. executive participants. participants who work in positions considered exempt from overtime pay under the