AVNT 10-K Annual Report Dec. 31, 2020 | Alphaminr
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AVNT 10-K Fiscal year ended Dec. 31, 2020

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AVIENT CORP
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TABLE OF CONTENTS
Part IItem 1. BusinessItem 1A. Risk FactorsItem 2. PropertiesItem 1B. Unresolved Staff CommentsItem 3. Legal ProceedingsItem 4. Mine Safety DisclosuresPart IIItem 5. Market For Registrant S Common Equity, Related Stockholder Matters and Issuer Purchases Of Equity SecuritiesItem 6. Selected Financial DataItem 7. Management S Discussion and Analysis Of Financial Condition and Results Of OperationsItem 7A. Quantitative and Qualitative Disclosures About Market RiskItem 8. Financial Statements and Supplementary DataNote 1 Description Of Business and Summary Of Significant Accounting PoliciesNote 2 Business CombinationsNote 3 Discontinued OperationsNote 4 Goodwill and Intangible AssetsNote 5 Employee Separation and Restructuring CostsNote 6 Financing ArrangementsNote 7 Leasing ArrangementsNote 8 Inventories, NetNote 9 Property, NetNote 10 Other Balance Sheet LiabilitiesNote 11 Employee Benefit PlansNote 12 Commitments and ContingenciesNote 13 Income TaxesNote 14 Share-based CompensationNote 15 Segment InformationNote 16 Derivatives and HedgingNote 17 Selected Quarterly Financial Data (unaudited)Item 9. Changes in and Disagreements with Accountants on Accounting and Financial DisclosureItem 9A. Controls and ProceduresItem 9B. Other InformationPart IIIItem 10. Directors, Executive Officers and Corporate GovernanceItem 11. Executive CompensationItem 12. Security Ownership Of Certain Beneficial Owners and Management and Related Shareholder MattersItem 13. Certain Relationships and Related Transactions, and Director IndependenceItem 14. Principal Accountant Fees and ServicesPart IVItem 15. Exhibits and Finanacial Statement SchedulesItem 16. Form 10-k Summary

Exhibits

2.1 Equity Purchase Agreement dated June 29, 2017, by and amongPolyOneCorporation,PolyOneDesigned Structures and Solutions LLC and NLIN Plastics, LLC (incorporated by reference to Exhibit 2.1 to the Company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2017, SEC File No. 1-16091) 2.2 Asset Purchase Agreement, dated August 16, 2019, by and amongPolyOneCorporation and SK Echo Group S. r.l. (incorporated by reference to Exhibit 2.1 to the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2019, SEC File no. 1-16091) 2.3 Share Purchase Agreement, dated December 19, 2019, by and betweenPolyOneCorporation and Clariant AG (incorporated by reference to Exhibit 2.3 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2019, SEC File No. 1-16091). 3.1** Amended and Restated Articles of Incorporation of Avient Corporation (as amended through June 30, 2020) 3.2** Amended and Restated Code of Regulations, effective June 30, 2020 4.1 Indenture, dated February 28, 2013, betweenPolyOneCorporation and Wells Fargo Bank, National Association, as trustee (incorporated by reference to Exhibit 4.1 to the Companys Current Report on Form 8-K filed on March 5, 2013, SEC File No. 1-16091) 4.2 Indenture, dated May 13, 2020, betweenPolyOneCorporation and U.S. Bank National Association, as trustee (incorporated by reference to Exhibit 4.1 to the Companys Current Report on Form 8-K, filed on May 15, 2020, SEC File No. 1-16091) 4.3 Description of Securities (incorporated by reference to Exhibit 4.2 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2019, SEC File No. 1-16091). 10.1 Third Amended and Restated Credit Agreement, dated June 28, 2019, by and amongPolyOneCorporation, the subsidiaries ofPolyOneCorporation party thereto, Wells Fargo Capital Finance, LLC, as administrative agent, and the various lenders and other agents party thereto (incorporated by reference to Exhibit 10.2 to the Company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2019, SEC File No. 1-16091. 10.2 Credit Agreement, dated November 12, 2015, by and amongPolyOneCorporation, as borrower, Citibank, N.A., as administrative agent, each of Citigroup Global Markets Inc., Wells Fargo Securities LLC, Goldman, Sachs & Co., HSBC Securities (USA) Inc. and Morgan Stanley & Co. LLC, as joint-lead arrangers and joint-book managers, Jefferies Finance LLC, KeyBanc Capital Markets Inc. and SunTrust Robinson Humphrey, Inc., as co-managers, and several other commercial lending institutions that are parties thereto (incorporated by reference to Exhibit10.6 to the Companys Annual Report on Form10-K for the fiscal year ended December31, 2015, SEC File No.1-16091) 10.3 Amendment Agreement No. 1 to the Credit Agreement, dated as of June 15, 2016, among the Company, certain subsidiaries of the Company, Citibank, N.A., as administrative agent, and the additional lender party thereto (incorporated by reference to Exhibit 10.2 to the Companys Quarterly Report on Form 10-Q for the quarter ended June 30. 2016, SEC File No. 16091) 10.4 Amendment Agreement No. 2, dated August 3, 2016, by and amongPolyOneCorporation, the subsidiaries ofPolyOneCorporation party thereto, Citibank, N.A, as administrative agent, and the lenders party thereto (incorporated by reference to Exhibit 10.1 to the Companys Current Report on Form 8-K filed on August 5, 2016, SEC File No. 1-16091) 10.5 Amendment Agreement No. 3, dated January 24, 2017, by and amongPolyOneCorporation, the subsidiaries ofPolyOneCorporation party thereto, Citibank, N.A., as administrative agent, and the lenders party thereto (incorporated by reference to Exhibit 10.1 to the Companys Quarterly Report on Form 10-Q for the quarter ended March 31, 2017, SEC File No. 1-16091) 10.6 Amendment Agreement No. 4, dated August 15, 2017, by and amongPolyOneCorporation, the subsidiaries ofPolyOneCorporation party thereto, Citibank, N.A., as administrative agent, and the lenders party thereto (incorporated by reference to Exhibit 10.1 to the Companys Quarterly Report on Form 10-Q for the quarter ended September 30, 2017, SEC File No. 1-16091) 10.7 Amendment Agreement No. 5, dated April 11, 2018, by and amongPolyOneCorporation, the subsidiaries ofPolyOneCorporation party thereto, Citibank, N.A., as administrative agent, and the lenders party thereto (incorporated by reference to Exhibit 10.1 to the Companys Quarterly Report on Form 10-Q for the quarter ended June 30, 2018, SEC File No. 1-16091) 10.8 Amendment Agreement No.6, dated November 9, 2018, by and amongPolyOneCorporation, the subsidiaries ofPolyOneCorporation party thereto, Citibank, N.A, as administrative agent, and the lenders party thereto (incorporated by reference to Exhibit 10.1 to the Companys Current Report on Form 8-K filed on November 13, 2018, SEC File No. 1-16091) 10.9+ Form of 2011 Award Agreement under the 2010 Equity and Performance Incentive Plan (incorporated by reference to Exhibit 10.1 to the Companys Quarterly Report on Form 10-Q for the quarter ended March 31, 2011, SEC File No. 1-16091) 10.11+ First Amendment to theAvientSupplemental Retirement Benefit Plan (As Amended and Restated Effective January 1, 2014), dated as of March 16, 2016; Amendment No. 2 to theAvientSupplemental Retirement Benefit Plan (As Amended and Restated Effective January 1, 2014), dated as of December 19, 2018; and Amendment No. 3 to theAvientSupplemental Retirement Benefit Plan (As Amended and Restated Effective January 1, 2014), dated as of April 18, 2019 (incorporated by reference to Exhibit 4.5 to the Company's Registration Statement on Form S-8, filed on May 6, 2019, SEC File No. 333-231236) 10.13+ Amended and Restated Deferred Compensation Plan for Non-Employee Directors (as amended and restated effective May 20, 2014) (incorporated by reference to Exhibit 10.7 of the Companys Annual Report on Form 10-K for the fiscal year ended December 31, 2014, SEC File No. 1-16091) 10.14+ Form of Management Continuity Agreement for Executive Officers prior to 2011 (incorporated by reference to Exhibit10.13 to the Companys Annual Report on Form10-K for the fiscal year ended December31, 2007, SEC File No.1-16091) 10.15+ Form of Management Continuity Agreement for Executive Officers after 2011 (incorporated by reference to Exhibit 10.12 to the Companys Annual Report on Form 10-K for the fiscal year ended December 31, 2013, SEC File No. 1-16091) 10.16+** Schedule of Executive Officers with Management Continuity Agreements 10.17+ AvientSupplemental Retirement Benefit Plan (As Amended and Restated Effective January 1, 2014) (incorporated by reference to Exhibit 10.14 to the Companys Annual Report on Form 10-K for the fiscal year ended December 31, 2013, SEC file No. 1-16091) 10.19+ Executive Severance Plan, as amended and restated effective May 15, 2014 (incorporated by reference to Exhibit10.1 to the Companys Quarterly Report on Form10-Q for the quarter ended June30, 2014, SEC File No.1-16091) 10.20+ Form of 2012 Award Agreement under theAvientCorporation 2010 Equity and Performance Incentive Plan, as amended (incorporated by reference to Exhibit 10.38 to the Companys Annual Report on Form 10-K for the fiscal year ended December 31, 2012, SEC File No. 1-16091) 10.21+ Form of 2013 Award Agreement under theAvientCorporation 2010 Equity and Performance Incentive Plan, as amended (incorporated by reference to Exhibit 10.27 to the Companys Annual Report on Form 10-K for the fiscal year ended December 31, 2013, SEC File No. 1-16091) 10.22+ Form of Director and Officer Indemnification Agreement (incorporated by reference to Exhibit10.1 to the Companys Current Report on Form8-K filed on July5, 2006, SEC File No.1-16091) 10.23+ Form of 2014 Award Agreement under theAvientCorporation 2010 Equity and Performance Incentive Plan, as amended (incorporated by reference to Exhibit 10.2 to the Companys Quarterly Report on Form 10-Q for the quarter ended June 30, 2014, SEC File No. 1-16091) 10.25+** Form of 2021 Award Agreement under theAvientCorporation2020 Equity and Incentive Compensation Plan 21.1** Subsidiaries of the Company 23.1** Consent of Independent Registered Public Accounting Firm- Ernst& Young LLP 31.1** Certification of Robert M. Patterson, Chairman, President and Chief Executive Officer, pursuant to SEC Rules13a-14(a) and 15d-14(a), adopted pursuant to Section302 of the Sarbanes-Oxley Act of 2002 31.2** Certification ofJamie A. Beggs, SeniorVice President and Chief Financial Officer, pursuant to SEC Rules13a-14(a) and 15d-14(a), adopted pursuant to Section302 of the Sarbanes-Oxley Act of 2002 32.1** Certification pursuant to 18U.S.C. 1350, adopted pursuant to Section906 of the Sarbanes-Oxley Act of 2002, as signed by Robert M. Patterson, Chairman, President and Chief Executive Officer 32.2** Certification pursuant to 18U.S.C. 1350, adopted pursuant to Section906 of the Sarbanes-Oxley Act of 2002, as signed byJamie A. Beggs, SeniorVice President and Chief Financial Officer