AMENDMENT TO THE AMENDED AND RESTATED HERCULES DEFERRED COMPENSATION PLAN

WHEREAS, Ashland Inc. (“Ashland”), as sponsor of the Amended and Restated Hercules Deferred Compensation Plan (the “Plan”), maintains the Plan for the benefit of employees eligible to participate therein; and

WHEREAS, pursuant to Article IV, Section 5, of the Charter of the Personnel and Compensation Committee of the Board of Directors of Ashland Inc., said Personnel and Compensation Committee (the “Committee”) has retained authority to amend or transfer any of the benefit plans of Ashland and its subsidiaries and affiliates that are more than 50% owned by Ashland; and

WHEREAS, the Committee now desires to amend the Plan to provide Ashland the discretionary authority to make a limited cashout from the Plan to participants.

NOW, THEREFORE, BE IT RESOLVED, the Plan is amended, effective upon execution, as follows.

Notwithstanding the foregoing, the Company shall have the discretion to make a limited cashout of a participant’s account pursuant to section 1.409A-3(j)(4)(v) of the Treasury Regulations to such participant so long as:

    

(1)    such participant’s entire interest in his or her accounts in the Plan and all aggregate plans as defined under section 1.409A-1(c)(2) of the Treasury Regulations is terminated and liquidated; and

(2)    the amount to be distributed from the Plan, when added together with the distributable amounts from all aggregate plans as defined under section 1.409A-1(c)(2) of the Treasury Regulations, does not exceed the applicable dollar amount under Code Section 402(g)(1)(B).

IN WITNESS WHEREOF, Ashland Global Holdings Inc. has caused its duly authorized representative to execute the Plan, this 30th day of September, 2016.

/s/ Peter J. Ganz