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EXHIBIT 10.3

March 22, 2021

David Will

Quaker Houghton

Dear David:

Congratulations! I am pleased to offer you this promotion with Quaker Houghton as VP, Global Controller. Your tentative start date

for this position is April 19, 2021.

We believe you can make significant contributions in this role and will find this opportunity

exciting and rewarding. Please review the details of the offer below. 

Salary

Your new annualized salary is $260,000 and is inclusive of your 2020 merit increase and is effective on April 19

,

2021. You will be

eligible for your next merit increase in April 2022, reflective of performance year 2021.

Annual Incentive Plan 

You will be eligible to participate in our 2021 Annual Incentive Plan (AIP), with an annual bonus target of 30% of your base salary.

Long Term Incentive Plan

You will be eligible to participate in our 2021 Long Term Incentive Plan (LTIP) at a level valued at $70,000 which is inclusive of the

$47,000 grant you received on March 15

th

. The $23,000 value in the difference will be reflected in an additional grant on your start

date of April 19, 2021. As a reminder, the grant will consist of Restricted Stock (60%) and Performance Stock Units (40%). 

The terms and conditions of your employment as they existed remain in effect, except as specifically set forth above and in restrictions

from what you signed previously. Quaker Houghton reserves the right to modify your job title, duties and compensation, as well as all

company rules, practices and other terms of employment.

We are excited about this opportunity for you David and look forward to you accepting this role with Quaker Houghton. After your

review of this offer, please sign below to confirm your acceptance and return to me with a copy to Rob Traub and Kym Johnson.

Sincerely,

/s/ Shane Hostetter

Shane Hostetter

VP, Finance and Chief Accounting Officer

Employee Offer Acceptance

I accept the terms and conditions outlined above:

/s/ David Will 4/7/2021 

David Will Date