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*Execution      Copy*

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**EMPLOYEE      BENEFITS AGREEMENT**

**BY      AND BETWEEN**

**KERR-McGEE      CORPORATION**

**AND**

**TRONOX      INCORPORATED**

**DATED      AS OF November 28, 2005**

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**TABLE      OF CONTENTS**

|  **Article                1. Definitions and Construction**           |  **2**                                                              |
|---------------------------------------------------------------------------------|-------------------------------------------------------------------------------|
| 1.01.                                                                           | Definitions                                                                   | 2 |
| 1.02.                                                                           | Construction                                                                  | 9 |
|  **Article                2. General Principles**                     |  **10**                                                             |
| 2.01.                                                                           | Assumption                of Liabilities                                      | 10 |
| 2.02.                                                                           | Participation                in Kerr-McGee Employee Benefit Plans             | 10 |
| 2.03.                                                                           | Establishment                and Maintenance of Tronox Employee Benefit Plans | 11 |
| 2.04.                                                                           | Terms                of Participation in Tronox Employee Benefit Plans        | 12 |
| 2.05.                                                                           | Allocation                of Costs                                            | 13 |
|  **Article                3. Terms of Employment and Compensation**   |  **14**                                                             |
| 3.01.                                                                           | Salary                and Base Pay                                            | 14 |
| 3.02.                                                                           | Incentive                Awards                                               | 14 |
| 3.03.                                                                           | Severance                                                                     | 15 |
| 3.04.                                                                           | Success                Bonus Program                                          | 15 |
| 3.05.                                                                           | 2005                Retention Program                                         | 15 |
|  **Article                4. Defined Benefit Retirement Plans**       |  **16**                                                             |
| 4.01.                                                                           | Establishment                of Mirror Retirement Plan and Trust              | 16 |
| 4.02.                                                                           | Assumption                of Pension Plan Liabilities                         | 16 |
| 4.03.                                                                           | Transfer                of Assets                                             | 16 |
| 4.04.                                                                           | Pension                Plan Transfer Amount                                   | 17 |
|  **Article                5. Defined Contribution Retirement Plans**  |  **18**                                                             |
| 5.01.                                                                           | Establishment                of SIP and Trust                                 | 18 |
| 5.02.                                                                           | Vesting                in Kerr-McGee SIP                                      | 18 |
| 5.03.                                                                           | Acceptance                of Rollovers                                        | 18 |
| 5.04.                                                                           | Maintenance                of Universal Life Policy                           | 18 |
|  **Article                6. Health and Welfare Plans**               |  **19**                                                             |
| 6.01.                                                                           | Establishment                of Health and Welfare Plans                      | 19 |
| 6.02.                                                                           | Health                and Welfare Plans                                       | 19 |
| 6.03.                                                                           | Special                Rule for HCSA and DCSA Plans                           | 19 |
| 6.04.                                                                           | Vendor                Contracts                                               | 20 |
| 6.05.                                                                           | Disability                Plans                                               | 21 |
| 6.06.                                                                           | Life                Insurance Plans                                           | 21 |
| 6.07.                                                                           | COBRA                                                                         | 21 |
| 6.08.                                                                           | Leave                of Absence Programs and FMLA                             | 22 |
| 6.09.                                                                           | Kerr-McGee                Workers’ Compensation Program                 | 22 |
| 6.10.                                                                           | Kerr-McGee                Employee Assistance Program                         | 22 |
| 6.11.                                                                           | Unemployment                Insurance Tax Management Program                  | 23 |
| 6.12.                                                                           | Administration                                                                | 23 |
| 6.13.                                                                           | UMWA                Combined Benefit Fund                                     | 23 |
| 6.14.                                                                           | Medicare                Part B Reimbursements                                 | 23 |
| 6.15.                                                                           | Reimbursements                by Kennecott                                    | 23 |
| 6.16.                                                                           | Application                of Article 6 to Tronox Entities                    | 23 |

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|  **Article                7. Stock-Based Compensation**                                                           |  **25**                                                          |
|-----------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------|
| 7.01.                                                                                                                       | Establishment                of Plan                                       | 25 |
| 7.02.                                                                                                                       | Stock                Options                                               | 25 |
| 7.03.                                                                                                                       | Restricted                Stock                                            | 25 |
|  **Article                8. Executive Benefits**                                                                 |  **26**                                                          |
| 8.01.                                                                                                                       | Establishment                of Plans                                      | 26 |
| 8.02.                                                                                                                       | Kerr-McGee                Benefits Restoration Plan                        | 26 |
| 8.03.                                                                                                                       | Rabbi                Trust                                                 | 26 |
| 8.04.                                                                                                                       | Continuity                Agreements                                       | 26 |
| 8.05.                                                                                                                       | Code                Section 162(m)                                         | 27 |
|  **Article                9. Miscellaneous Benefits**                                                             |  **28**                                                          |
| 9.01.                                                                                                                       | Service                Award Program                                       | 28 |
| 9.02.                                                                                                                       | Other                Welfare Plans                                         | 28 |
|  **Article                10. Non-U.S. Employees and Employee Benefit Plans**                                     |  **29**                                                          |
| 10.01.                                                                                                                      | In                General                                                  | 29 |
| 10.02.                                                                                                                      | Stock                Opportunity Grants                                    | 29 |
| 10.03.                                                                                                                      | Stock                Options—Foreign Plans                           | 29 |
|  **Article                11. General and Administrative Provisions**                                             |  **30**                                                          |
| 11.01.                                                                                                                      | Actuarial                and Accounting Methodologies and Assumptions      | 30 |
| 11.02.                                                                                                                      | Sharing                of Participant Information                          | 30 |
| 11.03.                                                                                                                      | Reporting,                Disclosure, and Communications to Participants   | 30 |
| 11.04.                                                                                                                      | Non-Termination                of Employment, No Third-Party Beneficiaries | 31 |
| 11.05.                                                                                                                      | Plan                Audits                                                 | 31 |
| 11.06.                                                                                                                      | Beneficiary                Designations                                    | 33 |
| 11.07.                                                                                                                      | Cooperation                in Requests for Rulings and DOL Opinions        | 33 |
| 11.08.                                                                                                                      | Fiduciary                Matters                                           | 33 |
| 11.09.                                                                                                                      | Collective                Bargaining                                       | 33 |
| 11.10.                                                                                                                      | Consent                of Third Parties                                    | 33 |
| 11.11.                                                                                                                      | General                Obligations as Plan Sponsors                        | 34 |
| 11.12.                                                                                                                      | Adjustments                to Plan Transfers                               | 34 |
|  **Article                12. Miscellaneous**                                                                     |  **35**                                                          |
| 12.01.                                                                                                                      | Effect                If Neither Distribution nor Exchange Occurs          | 35 |
| 12.02.                                                                                                                      | Relationship                of Parties                                     | 35 |
| 12.03.                                                                                                                      | Affiliates                                                                 | 35 |
| 12.04.                                                                                                                      | Disputes                                                                   | 35 |
| 12.05.                                                                                                                      | Arbitration                                                                | 35 |
|                                                                                                                        |                                                                       |   |
|  **Schedule              I** **Kerr-McGee              U.S. Employee Benefit Plans, Programs, and Policies**      |                                                                       |
|                                                                                                                        |                                                                       |
|  **Schedule              II** **Kerr-McGee              Non-U.S. Employee Benefit Plans, Programs, and Policies** |                                                                       |

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**EMPLOYEE      BENEFITS AGREEMENT**

**RECITALS**

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**ARTICLE      1.**
** **
**DEFINITIONS      AND CONSTRUCTION**

**1.01.**
**Definitions.**
** **

| (a)   | ***Agreement.**** *                Agreement means this Employee Benefits Agreement, including all the                Schedules and Exhibits hereto. |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------|

| (b)   | ***Article.***                Article means an Article of this                Agreement. |
|-----------------|------------------------------------------------------------------------------------------|

| (c)   | ***Award.***                Award means an award under a Stock Plan, a Short Term Incentive Plan,                or a                Non-U.S. Benefit Plan. |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (d)   | ***Benefits                Restoration Plan.***                Benefits Restoration Plan, when immediately preceded by “Kerr-McGee,”                means the Kerr-McGee Corporation Benefits Restoration Plan. When                immediately preceded by “Tronox,” Benefits Restoration Plan means the                non-qualified retirement plan to be established by Tronox pursuant                to                Section 2.03                that corresponds to the defined benefit portion of the Kerr-McGee                Benefits                Restoration Plan. |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (e)   | ***Cafeteria                Plan.***Cafeteria                Plan, when immediately preceded by “Kerr-McGee,” means the cafeteria plan                component of the Kerr-McGee Health and Protection Plan, which includes                the                HCSA and the DCSA. When immediately preceded by “Tronox,” cafeteria plan                means the plan that may be established by Tronox pursuant to Section                2.03                that corresponds to the Kerr-McGee Cafeteria                Plan. |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (f)   | ***Change                In Control.***                Change in Control means the occurrence, on or after the Offering                Date and                before the Close of the Distribution Date, of a “Change in Control” as                such term is defined in either the (1) Kerr-McGee Corporation 2005                Long                Term Incentive Plan as amended through the date of this Agreement                or                (2) Tronox Incorporated 2005 Long Term Incentive                Plan. |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (g)   | ***Close                of the Distribution Date.***                Close of the Distribution Date means 11:59:59 P.M., Eastern Standard                Time                or Eastern Daylight Time (whichever shall then be in effect), on                the                Distribution Date. |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (h)   | ***COBRA.**** *                COBRA means the continuation coverage requirements for “group health                plans” under Title X of the Consolidated Omnibus Budget Reconciliation Act                of 1985, as amended, and as codified in Code section 4980B and ERISA                sections 601 through 608. |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (i)   | ***Code.***                Code means the Internal Revenue Code of 1986, as amended, or any                successor                federal income tax law. Reference to a specific Code provision also                includes any proposed, temporary, or final regulation or other guidance                of                general applicability in force under that                provision. |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (j)***  *** | ***DCSA.***DCSA,                when immediately preceded by “Kerr-McGee,” means the dependent care                spending account component of the Kerr-McGee Cafeteria Plan. When                immediately preceded by “Tronox,” DCSA means the plan to be established by                Tronox pursuant to Section 2.03                that corresponds to the Kerr-McGee                DCSA. |
|-----------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| (k)***  *** | ***Disability                Plans.***Disability                Plans, when immediately preceded by “Kerr-McGee,” means the short term                disability and long term disability components of the Kerr-McGee                Health                and Protection Plan and the Kerr-McGee Pigments (Savannah), Inc.                Personal                Protection Plan. When immediately preceded by “Tronox,” Disability Plans                means the plans to be established by Tronox pursuant to Section                2.03                that correspond to the respective Kerr-McGee Disability                Plans. |
|-----------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (l)   | ***Distribution                Date.***                Distribution Date means the date on which the Distribution or Exchange                (both as defined in the Principal Agreement)                occurs. |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (m)   | ***DOL.**** *                DOL means the U.S. Department of                Labor. |
|-----------------|------------------------------------------------------------------------------------------|

| (n)***  *** | ***EAP.***EAP,                when immediately preceded by “Kerr-McGee,” means the employee assistance                component of the Kerr-McGee Health and Protection Plan and the Kerr-McGee                Pigments (Savannah), Inc. Personal Protection Plan. When immediately                preceded by “Tronox,” EAP means the plans to be established by Tronox                pursuant to Section 2.03                that correspond to the Kerr-McGee                EAP. |
|-----------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (o)   | ***Employee                Benefit Plans.***                Employee Benefit Plans, when immediately preceded by “Kerr-McGee,” means                the Kerr-McGee Retirement Plan, the Kerr-McGee SIP, the Kerr-McGee                Stock                Plans, the Kerr-McGee Executive Benefit Plans, the Kerr-McGee Short                Term                Incentive Plans, the Kerr-McGee Health and Welfare Plans, the Kerr-McGee                Other Benefit Programs, and the Kerr-McGee Non-U.S. Benefit Plans.                When                immediately preceded by “Tronox,” Employee Benefit Plans means the Tronox                Retirement Plan, the Tronox SIP, the Tronox Stock Plans, the Tronox                Executive Benefit Plans, the Tronox Short Term Incentive Plans, the                Tronox                Health and Welfare Plans, the Tronox Other Benefit Programs, and                the                Tronox Non-U.S. Benefit Plans. |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (p)   | ***ERISA.***                ERISA means the Employee Retirement Income Security Act of 1974,                as                amended. Reference to a specific provision of ERISA also includes                any                proposed, temporary, or final regulation or other guidance of general                applicability in force under that                provision. |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (q)   | ***Executive                Benefit Plans.***                Executive Benefit Plans, when immediately preceded by “Kerr-McGee,” means                the Kerr-McGee Benefits Restoration Plan and the Kerr-McGee Corporation                Chemical Division Nonqualified Retirement Plan. When immediately                preceded                by “Tronox,” Executive Benefit Plans means the non-qualified retirement                plans to be established by Tronox pursuant to Section 2.03                that correspond to the defined benefit portion of the Kerr-McGee                Benefits                Restoration Plan and to the Kerr-McGee Corporation Chemical Division                Nonqualified Retirement Plan. |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (r)   | ***FMLA.**** *                FMLA means the Family and Medical Leave Act of 1993, as                amended. |
|-----------------|--------------------------------------------------------------------------------------------------------------------|

| (s)***  *** | ***HCSA.***HCSA,                when immediately preceded by “Kerr-McGee,” means the health care spending                account component of the Kerr-McGee Cafeteria Plan. When immediately                preceded by “Tronox,” HCSA means the plan to be established by Tronox                pursuant to Section 2.03                that corresponds to the Kerr-McGee                HCSA. |
|-----------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| (t)   | ***Health                and Welfare Plans.***                Health and Welfare Plans, when immediately preceded by “Kerr-McGee,” means                the Kerr-McGee Health and Protection Plan, the Kerr-McGee Retiree                Health                and Protection Plan, the Kerr-McGee Pigments (Savannah), Inc. Personal                Protection Plan, and the Kerr-McGee Other Welfare Plans. When immediately                preceded by “Tronox,” Health and Welfare Plans means the health and                welfare plans to be established by Tronox pursuant to Section 2.03                that correspond to the Kerr-McGee Health and Welfare                Plans. |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (u)   | ***Health                Plans.***Health                Plans, when immediately preceded by “Kerr-McGee,” means the medical,                dental, and vision components of the Kerr-McGee Health and Protection                Plan, the Kerr-McGee Retiree Health and Protection Plan, and the                Kerr-McGee Pigments (Savannah), Inc. Personal Protection Plan. When                immediately preceded by “Tronox,” Health Plans means the medical, dental,                and vision plans to be established by Tronox pursuant to Section                2.03                that correspond to the Kerr-McGee Health                Plans. |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (v)   | ***HMO.***                HMO means a health maintenance organization that provides benefits                under                the Kerr-McGee Health Plans or the Tronox Health                Plans. |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (w)   | ***Immediately                after the Distribution Date.***                Immediately after the Distribution Date means 12:00 A.M., Eastern                Standard                Time or Eastern Daylight Time (whichever shall then be in effect),                on the                day after the Distribution Date. |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (x)   | ***IPO.***                IPO means the initial public offering by Tronox of shares of Tronox                Common                Stock pursuant to the IPO Registration                Statement. |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (y)   | ***IRS.***                IRS means the Internal Revenue                Service. |
|-----------------|----------------------------------------------------------------------------------|

| (z)   | ***Kerr-McGee.***                Kerr-McGee means Kerr-McGee Corporation, a Delaware                corporation. |
|-----------------|------------------------------------------------------------------------------------------------------------------|

| (aa)   | ***Kerr-McGee                Entity.***                Kerr-McGee Entity means any entity that is, at the relevant time,                controlled, directly or indirectly, by Kerr-McGee, other than, after                the                Close of the Distribution Date, Tronox or any Tronox                Entity. |
|------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (bb)   | ***Kerr-McGee                Stock Value.**** *                Kerr-McGee Stock Value means a price for Kerr-McGee Common Stock                on the                Distribution Date, or, if such date is not a trading day on the NYSE,                on                the next preceding day that was a trading day on the NYSE, calculated                using a methodology to be determined by Kerr-McGee. Notwithstanding                the                foregoing, if an adjustment is required under Article                7                with respect to a Change in Control, Kerr-McGee Stock Value shall                mean the                closing price on the NYSE for Kerr-McGee Common Stock on the Offering                Date. |
|------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (cc)   | ***Leave                of Absence Programs.**** *                Leave of Absence Programs, when immediately preceded by “Kerr-McGee,”                means the Kerr-McGee Sick Leave and Extended Sick Leave Policies,                Vacation                Policy, Personal Leave Policy, Jury Duty Policy, Military Leave Program,                Kerr-McGee Funeral Leave Program, and other similar programs offered                from                time to time under the personnel policies and practices of Kerr-McGee                or a                Kerr-McGee Entity. When immediately preceded by “Tronox,” Leave of Absence                Programs means the programs to be established by Tronox pursuant                to                Section 2.03                that correspond to the respective Kerr-McGee Leave of Absence                Programs. |
|------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| (dd)   | ***Life                Insurance Plans.***Life                Insurance Plans, when immediately preceded by “Kerr-McGee,” means (1) the                accidental death and dismemberment insurance, business travel accident                insurance, dependent life insurance, and group term life insurance                components of the Kerr-McGee Health and Protection Plan, (2) the                group                term life insurance component of the Kerr-McGee Retiree Health and                Protection Plan, and (3) the accidental death and dismemberment and                group                term life insurance components of the Kerr-McGee Pigments (Savannah),                Inc.                Personal Protection Plan. When immediately preceded by “Tronox,” Life                Insurance Plans means the plans, if any, to be established by Tronox                pursuant to Section 2.03                that correspond to the Kerr-McGee Life Insurance                Plans. |
|------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (ee)   | ***Material                Feature.***                Material Feature means any feature of an Employee Benefit Plan that                could                reasonably be expected to be of material importance to the sponsoring                employer or the participants and beneficiaries of the Employee Benefit                Plan, which could include, depending on the type and purpose of the                particular Employee Benefit Plan, the class or classes of employees                eligible to participate in such Employee Benefit Plan, the nature,                type,                form, source, and level of benefits provided by the employer under                such                Employee Benefit Plan and the amount or level of contributions, if                any,                required to be made by participants (or dependents or beneficiaries)                or                the employer to such Employee Benefit                Plan. |
|------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (ff)   | ***Non-Employee                Director.***                Non-Employee Director, when immediately preceded by “Kerr-McGee,” means a                member of Kerr-McGee’s Board of Directors who is not an employee of                Kerr-McGee, a Kerr-McGee Entity, Tronox, or a Tronox Entity. When                immediately preceded by “Tronox,” Non-Employee Director means a member of                Tronox’s Board of Directors who is not an employee of Kerr-McGee, a                Kerr-McGee Entity, Tronox or a Tronox                Entity. |
|------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (gg)   | ***Non-U.S.                Benefit Plans.***Non-U.S.                Benefit Plans, when immediately preceded by “Kerr-McGee,” means the                employee benefit plans listed on Schedule II. When immediately preceded                by                “Tronox,” Non-U.S. Plans means employee benefit plans to be established by                Tronox pursuant to Section 2.03                that correspond to the Kerr-McGee Non-U.S. Benefit Plans to the extent                such Kerr-McGee Non-U.S. Benefit Plans provide benefits to Tronox                Individuals. |
|------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (hh)   | ***Offering                Date.**** *                Offering Date means the Closing Date (as defined in the Principal                Agreement). |
|------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------|

| (ii)   | ***Option.***                Option, when immediately preceded by “Kerr-McGee,” means an option to                purchase Kerr-McGee Common Stock (including any tandem stock appreciation                right). When immediately preceded by “Tronox,” Option means an option to                purchase Tronox Common Stock (including any tandem stock appreciation                right), in each case pursuant to a Stock                Plan. |
|------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (jj)   | ***Other                Benefit Programs.***Other                Benefit Programs, when immediately preceded by “Kerr-McGee,” means the                Leave of Absence Programs, Service Award Program, Education Gift                Matching                Program, Automobile/Homeowners Insurance Program, Death Benefit Policy,                and any other payroll practice, program, or policy available to Kerr-McGee                employees. When immediately preceded by “Tronox,” Other Benefit Programs                means the plans to be established by Tronox pursuant to Section                2.03                that correspond to Leave of Absence Programs, Service Award Program,                Education Gift Matching Program, Automobile/Homeowners Insurance                Program,                Death Benefit Policy, or other payroll practice, program, or policy                available to Kerr-McGee employees. |
|------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| (kk)   | ***Other                Welfare Plans.***Other                Welfare Plans, when immediately preceded by “Kerr-McGee,” means the                Kerr-McGee Long Term Care Program and the Kerr-McGee Educational                Assistance Program, regardless of whether such plans are subject                to ERISA.                When immediately preceded by “Tronox,” Other Welfare Plans means the                welfare plans, if any, to be established by Tronox pursuant to Section                2.03                that correspond to the Kerr-McGee Long Term Care Program and the                Kerr-McGee Educational Assistance Program,                respectively. |
|------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (ll)   | ***Participating                Company.***                Participating Company means, with respect to a particular Employee                Benefit                Plan, (1) Kerr-McGee, (2) any Kerr-McGee Entity that Kerr-McGee has                approved for participation in, and which is participating in, such                Employee Benefit Plan sponsored by Kerr-McGee, and (3) any entity                that by the terms of such an Employee Benefit Plan, participates                in such                Employee Benefit Plan or has employees who, by the terms of such                Employee                Benefit Plan, participate in or are covered by such Employee Benefit                Plan. |
|------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (mm)   | ***Pension                Transfer Amount.***                Pension Transfer Amount is defined in Section 4.04. |
|------------------|------------------------------------------------------------------------------------------------------------------|

| (nn)   | ***Pension                Trust.***                Pension Trust, when immediately preceded by “Kerr-McGee,” means the trust                that is exempt from taxation under Code section 501(a) that holds                the                assets of the Kerr-McGee Retirement Plan and forms a part of the                Kerr-McGee Retirement Plan. When immediately preceded by “Tronox,” Pension                Trust means the trust that is exempt from taxation under Code section                501(a) that holds the assets of the Tronox Retirement Plan and forms                a                part of the Tronox Retirement Plan. |
|------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (oo)   | ***Principal                Agreement.***                Principal Agreement is defined in the second recital of this                Agreement. |
|------------------|-------------------------------------------------------------------------------------------------------------------------------------------------|

| (pp)   | ***QDRO.***                QDRO means a domestic relations order which qualifies under Code                section                414(p) and ERISA section 206(d) and which creates or recognizes an                alternate payee’s right to, or assigns to an alternate payee, all or a                portion of the benefits payable to a participant under any of the                Kerr-McGee Retirement Plans or the Kerr-McGee Savings                Plan. |
|------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (qq)   | ***QMCSO.***                QMCSO means a medical child support order that qualifies under section                609(a) of ERISA and that creates or recognizes the existence of an                alternate recipient’s right to, or assigns to an alternate recipient the                right to, receive benefits for which a participant or beneficiary                is                eligible under a Kerr-McGee Health                Plan. |
|------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (rr)   | ***Rabbi                Trust.***                Rabbi Trust, when immediately preceded by “Kerr-McGee,” means the rabbi                trust established by Kerr-McGee Corporation. When immediately preceded                by                “Tronox,” Rabbi Trust means the grantor trust to be established by Tronox                pursuant to Section 8.03                that corresponds to the Kerr-McGee rabbi                trust. |
|------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| (ss)   | ***Ratio.***                Ratio means the amount obtained by dividing the Kerr-McGee Stock                Value by                the Tronox Stock Value; provided, however, that, in determining the                Ratio,                adjustments may be made to minimize the independent, determinable                and                verifiable effects of events other than the Distribution or Exchange                on                the Kerr-McGee Stock Value and the Tronox Stock                Value. |
|------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (tt)   | ***Retirement                Plan.***                Retirement Plan, when immediately preceded by “Kerr-McGee,” means the                Kerr-McGee Corporation Retirement Plan. When immediately preceded                by                “Tronox,” Retirement Plan means the tax-qualified defined benefit                retirement plan to be established by Tronox pursuant to Section                2.03                that corresponds to the Kerr-McGee Retirement                Plan. |
|------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (uu)   | ***Section.***                Section means a section of this                Agreement. |
|------------------|-----------------------------------------------------------------------------------------|

| (vv)   | ***Short                Term Incentive Plans.***                Short Term Incentive Plans, when immediately preceded by “Kerr-McGee,”                means the Kerr-McGee 2002 Annual Incentive Compensation Plan and                the                Kerr-McGee SCORE Compensation Program (effective 2003). When immediately                preceded by “Tronox,” Short Term Incentive Plans means the plans to be                established by Tronox pursuant to Section 2.03                that correspond to the Kerr-McGee 2002 Annual Incentive Compensation                Plan                and the Kerr-McGee SCORE Compensation Program (effective                2003). |
|------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (ww)   | ***SIP.***                SIP, when immediately preceded by “Kerr-McGee,” means the Kerr-McGee                Corporation Savings Investment Plan. When immediately preceded by                “Tronox,” SIP means the tax-qualified defined contribution retirement plan                to be established by Tronox pursuant to Section 2.03                that corresponds to the Kerr-McGee                SIP. |
|------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (xx)   | ***Stock                Plans.***                Stock Plans, when immediately preceded by “Kerr-McGee,” means the                Kerr-McGee Corporation 2005 Long Term Incentive Plan, the Kerr-McGee                Corporation 2002 Long Term Incentive Plan, the Kerr-McGee Corporation                2000                Long Term Incentive Plan, the Kerr-McGee Corporation 1998 Long Term                Incentive Plan, and the Kerr-McGee Corporation Long Term Incentive                Plan                (adopted in 1987 and restated in 1995), and such other stock-based                incentive plans that have been assumed by Kerr-McGee by reason of                merger,                acquisition, or otherwise, each as amended through the date of this                Agreement. Stock Plans shall also be deemed to include the stock                award                plans of companies acquired by (1) Tronox or a Tronox Entity after                the                date of this Agreement and before the Close of the Distribution Date,                if                Tronox or the Tronox Entity assumes those plans and (2) Kerr-McGee                or a                Kerr-McGee Entity after the date of this Agreement and before the                Close of                the Distribution Date, if Kerr-McGee or the Kerr-McGee Entity assumes                those plans. When immediately preceded by “Tronox,” Stock Plans means the                stock award plans to be established by Tronox pursuant to Section                2.03. |
|------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (yy)   | ***Transferred                Individual.***                Transferred Individual means any Tronox Individual other than (1)                any                Tronox Individual who became an employee of Kerr-McGee or a Kerr-McGee                Entity after the latest date on which he was a Tronox Individual                and                before the Close of the Distribution Date or (2) any Tronox Individual                who                is a Transferred Non-U.S. Individual. |
|------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| (zz)   | ***Transferred                Non-U.S. Individual.**** *                A Transferred Non-U.S. Individual is a Tronox Individual who was                last                employed before the Close of the Distribution Date by Kerr-McGee                or a                Kerr-McGee Entity located outside of the U.S. |
|------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (aaa)   | ***Tronox.***                Tronox means Tronox Incorporated, and, with respect to periods before                the                Offering Date, the chemical division of                Kerr-McGee. |
|-------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (bbb)   | ***Tronox                Committee.***                Tronox Committee means the Executive Compensation Committee of the                Tronox                Board of Directors, or such other committee as is appointed to administer                the provisions of the Tronox Stock                Plans. |
|-------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (ccc)   | ***Tronox                Entity.***                Tronox Entity means any entity or business unit (1) that is, at the                relevant time, a subsidiary of Tronox or is otherwise controlled,                directly                or indirectly, by Tronox or (2) that is or has been controlled by                Kerr-McGee, directly or indirectly, and involved in the chemical,                refining, coal, offshore contract drilling, or nuclear business units. |
|-------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (ddd)   | ***Tronox                Individual.***                Tronox Individual means any individual who                is— |
|-------------------|----------------------------------------------------------------------------------------------------------------------------|

| (1)   | on                the Offering Date, actively employed by (A) Tronox, (B) a Tronox                Entity,                or (C) Kerr-McGee Shared Services Company, LLC, and, in the case                of                subsection (C), is on                a list of individuals to be assigned to Tronox on the Offering                Date, |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2)   | not                actively employed by Tronox or a Tronox Entity on the Offering Date                and                (A) on the Offering Date, is receiving benefits under a Kerr-McGee                Leave                of Absence Program or a Kerr-McGee Disability Plan and (B) according                to the human resources records of Kerr-McGee, was actively employed                by (i)                Tronox, (ii) a Tronox Entity, (iii) Kerr-McGee Shared Services Company,                LLC, or (iv) the Kerr-McGee Technology Center and, in the case of                subsections (iii) and (iv), is on                a list of individuals to be assigned to Tronox on the Offering                Date,                immediately before beginning to receive benefits under a Kerr-McGee                Leave                of Absence Program or the Kerr-McGee Disability                Plan, |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3)   | hired                by Tronox or a Tronox Entity on or after the Offering Date and before                the                Close of the Distribution Date, or |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (4)   | on                the Offering Date, a former employee of Kerr-McGee, a Kerr-McGee                Entity,                Tronox, or a Tronox Entity whose last employment with Kerr-McGee                or a                Kerr-McGee Entity before the Offering Date was, according to the                human                resources records of Kerr-McGee, (A) with Tronox or a Tronox Entity                or (B)                with Kerr-McGee Shared Services, LLC, or the Kerr-McGee Technology                Center                and, in the case of this subsection (B), is on                a list of individuals to be assigned to Tronox on the Offering                Date. |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| (eee)   | ***Tronox                Stock Value.***                Tronox Stock Value means a price for Tronox Common Stock on the                Distribution Date or, if such date is not a trading day on the NYSE,                on                the next preceding day that was a trading day on the NYSE, calculated                using a methodology to be determined by Kerr-McGee. Notwithstanding                the                foregoing, if an adjustment is required under Article                7                with respect to a Change in Control, Tronox Stock Value shall mean                the                price at which shares of Tronox Common Stock are offered to purchasers                in                the IPO. |
|-------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (fff)   | ***U.S.***                U.S. means the 50 states comprising the United States of America,                territories thereof, and the District of                Columbia. |
|-------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (ggg)   | ***WCP.***                WCP, when immediately preceded by “Kerr-McGee,” means the Kerr-McGee                Workers’ Compensation Program, comprised of the various arrangements                established by Kerr-McGee or a Kerr-McGee Entity to comply with the                workers’ compensation requirements of the states in which Kerr-McGee and                its Affiliates conduct business. When immediately preceded by “Tronox,”                WCP means the Tronox Workers’ Compensation Program to be established by                Tronox to administer Tronox WCP Claims (as defined in Section 6.09). |
|-------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**1.02.**
**Construction.**

| (a)   | the                use of the masculine gender shall also include within its meaning                the                feminine and vice versa, |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------|

| (b)   | the                use of the singular shall also include within its meaning the plural                and                vice versa, and |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------|

| (c)   | the                word “include” shall mean to include without                limitation. |
|-----------------|--------------------------------------------------------------------------------------------------------|

----

**ARTICLE      2.**
**GENERAL      PRINCIPLES**

**2.01.**
**Assumption      of Liabilities.**

**2.02.**
**Participation      in Kerr-McGee Employee Benefit Plans.**

| (a)   | ***In                General.***                Effective as of the Offering Date and subject to the terms and conditions                of this Agreement, Tronox shall be a Participating Company in the                Kerr-McGee Employee Benefit Plans (other than, with respect to Awards                granted after the Offering Date, the Stock Plans) in effect as of                the                Offering Date. Each Tronox Entity that is, as of the Offering Date,                a                Participating Company in any of such Kerr-McGee Employee Benefit                Plans                shall continue as such. Effective as of any date on or after the                Offering                Date and before the Close of the Distribution Date, a Tronox Entity                not                described in the preceding sentence may, at its request and with                the                consent of Kerr-McGee (which shall not be unreasonably withheld),                become a                Participating Company in any or all of the Kerr-McGee Employee Benefit                Plans. Without Kerr-McGee’s consent, neither Tronox nor any Tronox Entity                shall become a Participating Company in any such Kerr-McGee Employee                Benefit Plan on or after the Offering                Date. |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (b)   | ***Obligations                as Participating Company.***                With respect to its participation in the Kerr-McGee Employee Benefit                Plans, Tronox shall perform, and shall cause each other Tronox Entity                that                is a Participating Company in any Kerr-McGee Employee Benefit Plan                to                perform, the duties of a Participating Company as set forth in the                applicable Employee Benefit Plan document and related administrative                procedures, including: (1) assisting in the administration of claims,                to                the extent requested by the claims administrator of the applicable                Kerr-McGee Employee Benefit Plan; (2) cooperating fully with benefit                personnel and benefit vendors; (3) preserving the confidentiality of                all financial arrangements Kerr-McGee has or may have with any vendors,                claims administrators, trustees or any other entity or individual                with                whom Kerr-McGee has entered into an agreement relating to the Kerr-McGee                Employee Benefit Plans; and (4) preserving the confidentiality of                participant health information (including health information in relation                to FMLA leaves). |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (c)   | ***Termination                of Participating Company Status.***                Tronox and each Tronox Entity shall cease to be a Participating Company                in                the Kerr-McGee Employee Benefit Plans at the Close of the Distribution                Date, except to the extent the parties agree to continue Tronox or                any                Tronox Entity as a Participating Company in a Kerr-McGee Employee                Benefit                Plan after that date. Notwithstanding the foregoing, in the event                of a                Change in Control, Tronox and each Tronox Entity shall cease to be                a                Participating Company in the Kerr-McGee Stock Plans as of the date                as of                which the adjustments called for by Article                7                have been made. |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

**2.03.**
**Establishment      and Maintenance of Tronox Employee Benefit Plans.**

| (a)   | ***Defined                Benefit Retirement Plans.***                Tronox shall establish the Tronox Retirement Plan, which shall be                substantially similar in all Material Features to the Kerr-McGee                Retirement Plan. In addition, Tronox shall establish the Tronox Benefits                Restoration Plan, which shall be substantially similar in all Material                Features to the defined benefit portion of the Kerr-McGee Benefits                Restoration Plan. Tronox may, but is not required to, establish a                plan                that mirrors the defined contribution portion of the Kerr-McGee Benefits                Restoration Plan. |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (b)   | ***Health                Plans.***                The Tronox Health Plans shall be substantially similar in all Material                Features to the Kerr-McGee Health Plans, except that the participants’                share of any premium payments may differ from the payment levels                of                participants in the Kerr-McGee Health Plans (except as provided below                with                respect to the provision of health benefits to retirees and their                spouses                and dependents). |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (c)   | ***Leave                of Absence Programs.***The                Tronox Leave of Absence Programs shall not cause any Transferred                Individual to forfeit any accrued vacation or leave that is transferred                to                Tronox or a Tronox Entity from Kerr-McGee or a Kerr-McGee Entity                that                could not be forfeited under the applicable Kerr-McGee Leave of Absence                Program. |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (d)   | ***Non-U.S.                Benefit Plans.***                Tronox shall establish Non-U.S. Benefit Plans to the extent provided                in                Article                10. |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (e)   | ***Incentive                Awards.***                Tronox shall establish incentive plans to the extent provided in                Section                3.02. |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (f)   | ***DCSA                and HCSA Plans.***                Tronox shall establish a DCSA Plan and an HCSA Plan for the remainder                of                the calendar year in which the Distribution Date occurs to the extent                provided in Section 6.03. |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (g)   | ***Disability                Plans.***                Tronox shall establish Disability Plans to the extent provided in                Section                6.05. |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

**2.04.**
**Terms      of Participation in Tronox Employee Benefit Plans.**

----

**2.05.**
**Allocation      of Costs.**

----

**ARTICLE      3.**
** **
**TERMS      OF EMPLOYMENT AND COMPENSATION**

**3.01.**
**Salary      and Base Pay.**

**3.02.**
**Incentive      Awards.**

| (a)   | ***2005                Short Term Incentive Awards.***                For the 2005 calendar year (or such later year during which the Offering                Date occurs), Awards under the Kerr-McGee Short Term Incentive Plans                for                Transferred Individuals shall be divided as                follows: |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (1)   | The                performance targets and Award amounts in effect as of the Offering                Date                shall be prorated for the portion of 2005 that occurs between January                1,                2005, and the Offering Date. Kerr-McGee, in its discretion, shall                determine the extent to which these prorated performance targets                were                achieved. Kerr-McGee shall ensure that Tronox receives an amount                sufficient to fund the prorated portion of the 2005 Awards on the                earlier                to occur of (A) the Distribution Date or (B) the date on which Tronox                makes payment to the Transferred Individual in connection with such                Awards. |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2)   | Tronox                and the Tronox Entities shall establish appropriate performance targets                and Award amounts that shall be in effect for the portion of 2005                that                occurs between the Offering Date and December 31, 2005. Tronox or                the                applicable Tronox Entity, in its discretion, shall determine the                extent to                which the performance targets were achieved. |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3)   | Tronox                shall pay to each Transferred Individual both (A) the portion of                his 2005                Award prorated for the period from January 1, 2005 to the Offering                Date,                and (B) the portion of his 2005 Award prorated for the period from                the                Offering Date to December 31, 2005, in a single payment at the time                specified under the applicable Short Term Incentive                Plan. |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (b)   | ***Long                Term Performance Awards with Performance Cycles that Include                2005.***                For any performance cycles that include the 2005 calendar year (or                such                later year during which the Offering Date occurs),  |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (1)   | Kerr-McGee                shall pay, in accordance with its terms, all, or any portion of,                a                performance unit Award that is held by a Transferred Individual and                that                is no longer outstanding on the Distribution Date under the Kerr-McGee                Stock Plans. |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2)   | All,                or any portion of, a performance unit Award that is held by a Transferred                Individual and that is outstanding on the Distribution Date under                the                Kerr-McGee Stock Plans shall be                canceled. |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| (3)   | Tronox                shall provide to each Transferred Individual a long term performance                Award                (in the form of restricted stock and/or stock options) that is equal                in                value to the value of the forfeited portion of any Award as described                in                Section 3.02(b)(2).                As soon as practicable following the Offering Date, Kerr-McGee shall                notify Tronox of the value of the portion of any Award that will                be                forfeited pursuant to this Section 3.02(b),                with such value being determined by calculating total shareholder                return                and associated payout as if the entire performance cycle ended on                the                Offering Date. |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (c)   | ***Compliance                with Section 409A of the Code.***                To the extent practicable, all incentive Awards shall be paid in                such a                manner as to avoid the adverse consequences of section 409A of the                Code. |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**3.03.**
**Severance.**

**3.04.**
**Success      Bonus Program.**

**3.05.**
**2005      Retention Program.**

----

**ARTICLE      4.**
** **
**DEFINED      BENEFIT RETIREMENT PLANS**

**4.01.**
**Establishment      of Mirror Retirement Plan and Trust.**

**4.02.**
**Assumption      of Pension Plan Liabilities.**

| **4.03.  ** | **Transfer                of Assets.** |
|-----------------------|----------------------------------------|

| (a)   | ***The                Initial Pension Transfer.***                The initial pension transfer shall be in an amount equal to at least                ninety percent (90%) of Kerr-McGee’s reasonable best estimate on the                Offering Date of the Pension Transfer Amount. Kerr-McGee shall transfer                or                cause to be transferred the amount of the initial pension transfer                from                the Kerr-McGee Pension Trust to the Tronox Pension Trust on the first                day                after the Distribution Date on which the New York Stock Exchange                is open                for business (the “First Transfer Date”). |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (b)   | ***The                Final Pension Transfer.***                On a date agreed upon by Kerr-McGee and Tronox that is no later than                six                months after the Distribution Date, or on such later date as they                may                agree (the “Final Transfer Date”), (A) Kerr-McGee shall transfer or cause                to be transferred from the Kerr-McGee Pension Trust to the Tronox                Pension                Trust assets of the Kerr-McGee Retirement Plan in an amount equal                to the                excess, if any, of the Pension Transfer Amount over the amount transferred                as of the First Transfer Date, or (B) Tronox shall transfer or cause                to be                transferred from the Tronox Pension Trust to the Kerr-McGee Pension                Trust                assets of the Tronox Retirement Plan, in an amount equal to the excess,                if                any, of the amount transferred as of the First Transfer Date over                the                Pension Transfer Amount. |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| **4.04.  ** | **Pension                Plan Transfer Amount.** |
|-----------------------|--------------------------------------------------|

| (a)   | Except                as provided in Section 4.04(b),                “Pension Transfer Amount” shall mean the amount equal to the projected                benefit obligation for Transferred Individuals under such plan as                of the                Close of the Distribution Date (using the actuarial methods and                assumptions used to value the plan on a termination basis). |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (b)   | Notwithstanding                the foregoing provisions of this Article                4,                in no event shall the Pension Transfer Amount be less than the minimum                required transfer amount for Transferred Individuals determined in                accordance with the terms of the Kerr-McGee Retirement Plan and the                requirements of section 414(l) of the                Code. |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (c)   | For                purposes of determining all actuarial liabilities required under                this                Section 4.04,                active and inactive employee data shall be based on the census data                as of                the Distribution Date and not the census data as of the Offering                Date. |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

**ARTICLE      5.**
** **
**DEFINED      CONTRIBUTION RETIREMENT PLANS**

**5.01.**
**Establishment      of SIP and Trust**

**5.02.**
**Vesting      in Kerr-McGee SIP.**

**5.03.**
**Acceptance      of Rollovers.**
** **

**5.04.**
**Maintenance      of Universal Life Policy.**

----

**ARTICLE      6.**
**HEALTH      AND WELFARE PLANS**

**6.01.**
**Establishment      of Health and Welfare Plans.**

**6.02.**
**Health      and Welfare Plans.**

| (a)   | The                Kerr-McGee Health and Welfare Plans shall provide coverage, subject                to the                provisions of such plans, for Transferred Individuals otherwise covered                under the Kerr-McGee Health and Welfare Plans for any claim incurred                by                such Transferred Individuals before the Close of the Distribution                Date                (regardless of whether the claim is actually presented to Kerr-McGee                or                the Kerr-McGee Health and Welfare Plan for payment before the Close                of the                Distribution Date). Tronox or the appropriate Tronox Entity shall                reimburse Kerr-McGee or the Kerr-McGee Health and Welfare Plans for                any                claims, expenses, costs, or other expenditures incurred by Kerr-McGee                or                the Kerr-McGee Health and Welfare Plans in providing such coverage                for                Transferred Individuals to the same extent Tronox or the applicable                Tronox                Entity would have reimbursed Kerr-McGee or the Kerr-McGee Health                and                Welfare Plan had the IPO not                occurred. |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (b)   | Tronox                shall cause its Health and Welfare Plans to recognize and maintain                all                coverage and contribution elections made by Transferred Individuals                under                the Kerr-McGee Health and Welfare Plans. Tronox shall apply such                elections                under its Health and Welfare Plans for the remainder of the period                or                periods for which the elections are by their terms applicable. |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (c)   | Tronox                shall also cause its Health and Welfare Plans to recognize and give                credit                for (1) all amounts applied by Transferred Individuals under the                Kerr-McGee Health and Welfare Plans to deductibles, out-of-pocket                maximums, and other applicable benefit coverage limits with respect                to                which such expenses have been incurred during the calendar year in                which                the Distribution Date occurs and (2) all benefits paid to, or received                by,                Transferred Individuals under the Kerr-McGee Health and Welfare Plans,                in                either case, for purposes of determining when such persons have received                the maximum benefits, including lifetime maximum benefits, provided                under                its Health and Welfare Plans. |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**6.03.**
**Special      Rule for HCSA and DCSA Plans.**

----

**6.04.**
**Vendor      Contracts.**

| (a)   | ***Third-Party                ASO Contracts.*** |
|-----------------|-------------------------------------------------|

| (1)   | At                Tronox’s request, Kerr-McGee shall use its reasonable best efforts to                cause each third-party administrator that operates pursuant to an                administrative services only contract that relates to any of the                Kerr-McGee Health and Welfare Plans (an “ASO Contract”) in existence as of                the date of this Agreement to enter into an agreement with Tronox                with                substantially similar terms and conditions. Such terms and conditions                shall include the financial and termination provisions, performance                standards, methodology, auditing policies, quality measures, reporting                requirements and target claims. The request by Tronox for Kerr-McGee                to                negotiate such ASO Contracts shall be deemed to be the authorization                by                Tronox of Kerr-McGee to act on its behalf to extend to Tronox the                terms                and conditions of the ASO Contracts. Tronox shall use its reasonable                best                efforts to cooperate with Kerr-McGee in such efforts, and Tronox                shall not                perform any act, including discussing any alternative arrangements                with                any third party, that would prejudice Kerr-McGee’s                efforts. |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2)   | If                it becomes reasonably likely that Kerr-McGee will not be successful                in                negotiating contract language that will permit compliance with this                Section 6.04(a),                Kerr-McGee shall so notify Tronox promptly, and after such notification,                Tronox shall be released from the restriction contained in the last                sentence of Section 6.04(a)(1).                In such case, Kerr-McGee may offer a contingency plan for the                administration of the portion of the Kerr-McGee Health and Welfare                Plans                affected by the unavailability of such ASO Contract, including, if                possible, an offer by the third-party administrator under the relevant                ASO                Contract of its services under a separate contract with Tronox, with                terms                and conditions as similar as practicable to those of the ASO Contract                with                Kerr-McGee. Tronox shall, effective Immediately after the Distribution                Date, either adopt its own contingency plan or the contingency plan                established by Kerr-McGee for such                arrangement. |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (b)   | **Insured                HMO/PPO/Expatriate Carrier                Agreements.** |
|-----------------|----------------------------------------------------------------------------------|

| (1)   | At                Tronox’s request, Kerr-McGee shall use its reasonable best efforts to                cause all HMOs, PPOs, and Expatriate Carriers that provide medical                services under the Kerr-McGee Health Plans in existence as of the                date of                this Agreement to provide coverage to employees and retirees of Tronox                on                terms that are substantially similar to the terms and conditions                of the                letter agreement between Kerr-McGee and such carrier (“HMO Agreement”), in                each case, from the Distribution Date until December 31, 2006, or                such                other date on which the parties may agree. Such terms and conditions                shall                include the financial and termination provisions of the HMO Agreements.                The request of Tronox as described above shall be deemed Tronox’s                authorization of Kerr-McGee to act on its behalf to extend to Tronox                the                terms and conditions of the HMO Agreements. Tronox shall use its                reasonable best efforts to cooperate with Kerr-McGee in such efforts,                and                Tronox shall not perform any act, including discussing any alternative                arrangements with any third-party that would prejudice Kerr-McGee’s                efforts. |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| (2)   | Tronox                shall have the sole discretion to determine which HMOs, PPOs, or                Expatriate Carriers to offer to the participants in the Tronox Health                Plans Immediately after the Distribution                Date. |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**6.05.**
**Disability      Plans.**

| (a)   | At                Tronox’s request, Kerr-McGee shall use its reasonable best efforts to                cause the insurance carriers that provide coverage under the Kerr-McGee                Disability Plans in existence as of the date of this Agreement to                provide                coverage for the employees of Tronox and Tronox Entities on terms                that are                substantially similar to the terms and conditions of the letter agreement                between Kerr-McGee and such insurance carrier (“Disability Agreement”), in                each case, from the Distribution Date until December 31, 2006, or                such                other date on which the parties may agree. Such terms and conditions                shall                include the financial and termination provisions of the Disability                Agreements. The request of Tronox as described above shall be deemed                Tronox’s authorization of Kerr-McGee to act on its behalf to negotiate the                extension to Tronox of the terms and conditions of the Disability                Agreements. Tronox shall use its reasonable best efforts to cooperate                with                Kerr-McGee in such efforts, and Tronox shall not perform any act,                including discussing any alternative arrangements with any third-party                that would prejudice Kerr-McGee’s                efforts. |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (b)   | As                of the Distribution Date, a portion of the Kerr-McGee Disability                Plans                shall be transferred to Tronox to create the Tronox Disability Plan.                Kerr-McGee and Tronox shall use their reasonable best efforts to                replace                the Disability Agreements with two groups of separate letter agreements                with the insurance carriers reflecting the division of the Kerr-McGee                Disability Plans between Kerr-McGee and Tronox. |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**6.06.**
**Life      Insurance Plans.**

**6.07.**
**COBRA.**

----

**6.08.**
**Leave      of Absence Programs and FMLA.**

| (a)   | Effective                Immediately after the Distribution Date: (1) Tronox shall honor,                and shall                cause each Tronox Entity to honor, all terms and conditions of leaves                of                absence which have been granted to any Transferred Individual under                a                Kerr-McGee Leave of Absence Program or FMLA before the Close of the                Distribution Date by Kerr-McGee, a Kerr-McGee Entity, Tronox, or                a Tronox                Entity, including such leaves that are to commence after the Distribution                Date; (2) Tronox and each Tronox Entity shall be solely responsible                for administering leaves of absence and compliance with FMLA with                respect                to their employees; and (3) Tronox and each Tronox Entity shall recognize                all periods of service of Transferred Individuals with Kerr-McGee                or a                Kerr-McGee Entity, as applicable, to the extent such service is recognized                by Kerr-McGee for the purpose of eligibility for leave entitlement                under                the Kerr-McGee Leave of Absence Programs and FMLA; provided that                no                duplication of benefits shall be required by the                foregoing. |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (b)   | As                soon as administratively practicable after the Close of the Distribution                Date, Kerr-McGee shall provide to Tronox copies of all records pertaining                to the Kerr-McGee Leave of Absence Programs and FMLA with respect                to all                Transferred Individuals to the extent such records have not been                provided                previously to Tronox or a Tronox                Entity. |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**6.09.**
**Kerr-McGee      Workers’ Compensation Program.**

| (a)   | ***Administration                of Claims.***Effective                Immediately after the Distribution Date, Tronox shall be responsible                for                the administration of all claims that are, or have been, incurred                under                the Kerr-McGee WCP before the Distribution Date by Tronox Individuals                (“Tronox WCP Claims”). Tronox shall discharge its responsibility by                securing insurance coverage or, to the extent Legally Permissible                (as                defined below), securing a self-insurance certificate in one or more                states. For purposes of this Section 6.09(a),                “Legally Permissible” shall be determined on a state-by-state basis, and                shall mean that administration of Tronox WCP Claims by Tronox is                permissible under the applicable state’s workers’ compensation laws                (taking into account all relevant facts, including that Tronox may                have a                self-insurance certificate in that                state). |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (b)   | ***Cooperation.***                Each party shall fully cooperate with the other with respect to the                administration and reporting of Tronox WCP Claims and the transfer                of the                administration of any Tronox WCP Claims to Tronox as determined under                this                Section 6.09.                Upon the request of Tronox, Kerr-McGee will make reasonable efforts                to                support any application Tronox may make for a self-insurance certificate                in one or more states. |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**6.10.**
**Kerr-McGee      Employee Assistance Program.**

----

**6.11.**
**Unemployment      Insurance Tax Management Program.**

**6.12.**
**Administration.**

| (a)   | ***Health                and Welfare Plan Subrogation Recovery.***                After the Distribution Date, Kerr-McGee and Tronox shall pay to each                other                any amounts recovered from time to time through subrogation or otherwise                for claims that are paid or payable by the other party (as provided                in                Section 6.02). |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (b)   | ***Exchange                of Historical Data.***                Kerr-McGee acknowledges that Tronox shall have access to medical                claims                and eligibility data for Tronox Individuals through the Close of                the                Distribution Date. Kerr-McGee will allow Tronox to make written requests                for this historical data to the extent permitted by                law. |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**6.13.**
**UMWA      Combined Benefit Fund.**

**6.14.**
**Medicare      Part B Reimbursements.**

**6.15.**
**Reimbursements      by Kennecott.**

----

**6.16.**
**Application of **
**Article 6**
** to Tronox      Entities.**
** **

----

**ARTICLE      7.**
** **
**STOCK-BASED      COMPENSATION**

**7.01.**
**Establishment      of Plan.**

**7.02.**
**Stock      Options.**
** **

| **(a)  ** | ***Vested                Options.***                Except as otherwise provided in this Article                7,                to the extent that a Transferred Individual is holding an Award consisting                of a Kerr-McGee Option that is vested and outstanding as of the Close                of                the Distribution Date, that Transferred Individual shall be treated                as                experiencing a separation from service from, or otherwise terminating                employment with, Kerr-McGee. Any such Option shall expire unless                it is                exercised within the time provided in the Option itself. |
|---------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **(b)  ** | ***Unvested                Options.***Except                as otherwise provided in this Article                7,                the Executive Compensation Committee of Kerr-McGee’s Board of Directors                and the Tronox Committee shall cause each Award consisting of a Kerr-McGee                Option to the extent unvested and outstanding as of the Distribution                Date                and held by a Transferred Individual to be adjusted, effective as                of the                Distribution Date, by substitution of a Tronox Option under a Tronox                Stock                Plan. Each such Tronox Option shall provide for the purchase of a                number                of shares of Tronox Common Stock equal to the number of shares of                Kerr-McGee Common Stock subject to the corresponding Kerr-McGee Option                as                of the Distribution Date, multiplied by the Ratio, with fractional                shares                rounded down to the nearest whole share. The per-share exercise price                of                such Tronox Option shall equal the per-share exercise price of the                corresponding Kerr-McGee Option as of the Distribution Date, divided                by                the Ratio, rounded to the nearest hundredth of a cent. Each such                Tronox                Option shall otherwise have the same terms and conditions as were                applicable to the corresponding Kerr-McGee Option as of the Distribution                Date, except that references to Kerr-McGee, and to Kerr-McGee Entities,                shall be amended to refer to Tronox and to Tronox Entities. |
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**7.03.**
**Restricted      Stock.**
** **

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**ARTICLE      8.**
** **
**EXECUTIVE      BENEFITS**

**8.01.**
**Establishment      of Plans.**

**8.02.**
**Kerr-McGee      Benefits Restoration Plan.**

**8.03.**
**Rabbi      Trust.**
** **

| (a)   | ***Establishment                of Mirror Rabbi Trust.***Effective                no later than Immediately after the Distribution Date, Tronox shall                establish, or cause to be established, the Tronox Rabbi Trust as                a grantor                trust, which shall, unless otherwise determined by the Tronox Committee,                be substantially similar in all Material Features to the Kerr-McGee                Rabbi                Trust. Tronox shall appoint as trustee under the Tronox Rabbi Trust                the                then-current trustee of the Kerr-McGee Rabbi                Trust. |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (b)   | ***Funding                of Tronox Rabbi Trust.***                As soon as practicable after the Close of the Distribution Date,                Kerr-McGee shall determine the amount of the liabilities under the                Kerr-McGee Executive Benefit Plans that are payable from the Kerr-McGee                Rabbi Trust as of the Distribution Date and the amount of such liabilities                attributable to Transferred Individuals. Kerr-McGee shall then transfer                to                the trustee of the Tronox Rabbi Trust an amount equal to the projected                benefit obligation of liabilities attributable to Transferred Individuals,                to the extent such liabilities are funded under the Kerr-McGee Rabbi                Trust                as of the Distribution Date (the “Rabbi Trust Transfer Amount”). Assets                shall be transferred from Kerr-McGee to the Tronox Rabbi Trust in                a manner                similar to that used to transfer the assets from the Kerr-McGee Pension                Trust to the Tronox Pension Trust described in Section                4.03. |
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**8.04.**
**Continuity      Agreements.**

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**8.05.**
**Code      Section 162(m).**

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**ARTICLE      9.**
**MISCELLANEOUS      BENEFITS**

**9.01.**
**Service      Award Program.**

| (a)   | Before                the Close of the Distribution Date, at the request of Tronox, Kerr-McGee                shall use its reasonable best efforts to cause the vendor that provides                service anniversary merchandise related to the Kerr-McGee Service                Award                Program as of the date of this Agreement to enter into a contract                with                Tronox and the Tronox Entities to provide service anniversary merchandise                under similar terms and conditions to the terms and conditions of                the                contract between Kerr-McGee and the vendor effective Immediately                after the                Distribution Date. These efforts shall substantially conform with                the                guidelines set forth in Section 6.04(a)                as if the service anniversary merchandise vendor contract were an                ASO                Contract. |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (b)   | Tronox                and the Tronox Entities may provide to their employees service anniversary                merchandise bearing the name and/or logo of Kerr-McGee ordered by                Kerr-McGee before the date of this Agreement and delivered under                the                Tronox Service Award Program to Transferred Individuals and other                employees and former employees of Tronox and the Tronox Entities                whose                service anniversary occurs on or before December 31, 2005 (or such                other                date on which the parties shall agree), subject to the terms and                conditions of any separate agreement between Kerr-McGee and Tronox                regarding the use of the corporate names, logos, service marks, and                other                intellectual property of Kerr-McGee and a Kerr-McGee Entity. No service                anniversary merchandise bearing the corporate name and/or logo of                Kerr-McGee shall be delivered to any Transferred Individuals or other                employees and former employees of Tronox and the Tronox Entities                with                respect to a service anniversary after December 31, 2005 (or such                other                date on which the parties shall agree), without the express written                consent of Kerr-McGee. |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**9.02.**
**Other      Welfare Plans.**

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**ARTICLE      10.**
** **
**NON-U.S.      EMPLOYEES AND EMPLOYEE BENEFIT PLANS**

**10.01.**
**In      General.**

**10.02.**
**Stock      Opportunity Grants.**

**10.03.**
**Stock      Options—Foreign Plans.**
** **

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**ARTICLE      11.**
** **
**GENERAL      AND ADMINISTRATIVE PROVISIONS**

**11.01.**
**Actuarial      and Accounting Methodologies and Assumptions.**

**11.02.**
**Sharing      of Participant Information.**

**11.03.**
**Reporting,      Disclosure, and Communications to Participants.**

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**11.04.**
**Non-Termination      of Employment, No Third-Party Beneficiaries.**

**11.05.**
**Plan      Audits.**

| (a)   | ***Audit                Rights with Respect to the Allocation or Transfer of Plan                Assets.***                The determination of the Pension Transfer Amount and the allocation                of                Pension Plan assets and liabilities pursuant to Section 4.02                and the determination and transfer of assets from Kerr-McGee pursuant                to                Section 8.03,                may be audited on behalf of both Kerr-McGee and Tronox by a consulting                firm to be determined jointly by Kerr-McGee and Tronox. The scope                of such                audit shall be limited to the accuracy of the final data relied upon                and                the accuracy of the computation and adherence to the methodology                specified                in this Agreement and, except as set forth in the last sentence of                this                Section 11.05(a),                such audit shall not be binding on the parties. The auditing firm                shall                provide its report to both Kerr-McGee and Tronox. No other audit                shall be                conducted with respect to the transfer or allocation of plan assets.                The                costs of such audit shall be shared proportionately to the asset                split                between Kerr-McGee and Tronox, or, at each company’s discretion and to the                extent allocable thereto, by their respective Retirement Plans. To                the                extent such audit recommends a change to the value of assets allocated                to                any Tronox Plan of less than 0.25% of the amount originally determined                by                Kerr-McGee’s actuaries under each of Sections 4.02                and 8.03,                as applicable to each transfer, the original determination shall                be                binding on the parties and shall not be subject to the dispute resolution                process provided under the Principal Agreement. To the extent such                audit                recommends such a change of 0.25% or more, any unresolved dispute                between                the parties as to whether and how to make any change in response                to such                recommendation shall be subject to the dispute resolution process                provided                under the Principal Agreement. |
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| (b)   | ***Audit                Rights with Respect to Information                Provided.*** |
|-----------------|----------------------------------------------------------------------------------------|

| (1)   | Each                of Kerr-McGee and Tronox, and their respective duly authorized                representatives, shall have the right to conduct audits with respect                to                all information provided to it by the other party. The party conducting                the audit (the “Auditing Party”) shall have the sole discretion to                determine the procedures and guidelines for conducting audits and                the                selection of audit representatives under this Section 11.05(b);                provided, that audits with respect to the allocation or transfer                of plan                assets and liabilities shall be subject only to Section 11.05(a).                The Auditing Party shall have the right to make copies of any records                at                its expense, subject to the confidentiality provisions set forth                in the                Principal Agreement, which are incorporated by reference herein.                The party                being audited shall provide the Auditing Party’s representatives with                reasonable access during normal business hours to its operations,                computer                systems, and paper and electronic files, and provide workspace to                its                representatives. After any audit is completed, the party being audited                shall have the right to review a draft of the audit findings and                to                comment on those findings in writing within ten business days after                receiving such draft. |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2)   | The                Auditing Party’s audit rights under this Section 11.05(b)                shall include the right to audit, or participate in an audit facilitated                by the party being audited, of any subsidiaries and affiliates of                the                party being audited and of any benefit providers and third parties                with                whom the party being audited has a relationship, or agents of such                party,                to the extent any such persons are affected by or addressed in this                Agreement (collectively, the “Non-parties”). The party being audited                shall, upon written request from the Auditing Party, provide an individual                (at the Auditing Party’s expense) to supervise any audit of a Non-party.                The Auditing Party shall be responsible for supplying, at the Auditing                Party’s expense, additional personnel sufficient to complete the audit                in                a reasonably timely manner. The responsibility of the party being                audited                shall be limited to providing, at the Auditing Party’s expense, a single                individual at each audited site for purposes of facilitating the                audit. |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (c)   | ***Audit                Rights Regarding Vendor Contracts.***From                the Offering Date through the Distribution Date, Kerr-McGee and Tronox                and                their duly authorized representatives shall have the right to conduct                joint audits with respect to any vendor contracts that relate to                the                Kerr-McGee Employee Benefit Plans. The scope of such audits shall                encompass the review of all correspondence, account records, claim                forms,                canceled drafts (unless retained by the bank), provider bills, medical                records submitted with claims, billing corrections, vendors’ internal                corrections of previous errors and any other documents or instruments                relating to the services performed by the vendor under the applicable                vendor contracts. Kerr-McGee and Tronox shall agree on the performance                standards, audit methodology, auditing policy and quality measures                and                reporting requirements relating to the audits described in this Section                11.05                and the manner in which costs incurred in connection with such audits                will                be shared. |
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**11.06.**
**Beneficiary      Designations.**

**11.07.**
**Cooperation      in Requests for Rulings and DOL Opinions.**

**11.08.**
**Fiduciary      Matters.**

**11.09.**
**Collective      Bargaining.**

| (a)   | A                Kerr-McGee Entity is a party to a Labor Agreement between Kerr-McGee                Pigments (Savannah), Inc., Savannah, GA Plant and District No. 96,                International Association of Machinists and Aerospace Workers (affiliated                with AFL-CIO), dated May 12, 2003 (the “Labor Agreement”). The Labor                Agreement settles certain terms and conditions of employment for                represented employees of this Kerr-McGee Entity. The Labor Agreement                continues for one year periods beginning on May 1 of each year unless                either party provides at least 60 days advance written notice of                its                intent to terminate the agreement at the end of the then-current                term.                (The current term of the Agreement expires on April 30,                2006.) |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (b)   | As                of the Distribution Date, Tronox or a Tronox Entity shall assume                the                Kerr-McGee Entity’s rights and obligations under the Labor Agreement. To                the extent that any provisions of this Agreement are inconsistent                with the                Labor Agreement, the provisions of the Labor Agreement shall                prevail. |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**11.10.**
**Consent      of Third Parties.**

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**11.11.**
**General      Obligations as Plan Sponsors.**

**11.12.**
**Adjustments      to Plan Transfers.**

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**ARTICLE      12.**
** **
**MISCELLANEOUS**

**12.01.**
**Effect      If Neither Distribution nor Exchange Occurs.**

**12.02.**
**Relationship      of Parties.**

**12.03.**
**Affiliates.**

**12.04.**
**Disputes.**
** **

**12.05.**
**Arbitration.**
** **

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|   | KERR-McGEE                CORPORATION                    |
|--------|----------------------------------------------------------|
|   |                                                     |
|   | By:                /s/ Robert                M. Wohleber |
|   | Name: Robert                M. Wohleber             |
|   | Title: Senior                Vice President and CFO |
|   |                                                     |
|   |                                                     |
|   | TRONOX                INCORPORATED                       |
|   |                                                     |
|   | By:                /s/ Thomas W. Adams                   |
|   | Name: Thomas                W. Adams                |
|   | Title: Chief                Executive Officer       |