Document:

Exhibit 4.2

          

           

        

        
          EXECUTION VERSION

           

        

        
          

        TAX MATTERS AGREEMENT

         

        by and between

         

        TECHNIPFMC PLC

         

        and

         

        TECHNIP ENERGIES N.V.

         

        Dated as of February 16, 2021

        
          
 

         

        

        
          
            

        

        
        TABLE OF CONTENTS

         

        ARTICLE I

        ALLOCATION OF TAX LIABILITIES AND TAX-RELATED LOSSES

         

        	
                Section 1.1.

              	
                General Rule

              	
                1

              
	
                Section 1.2.

              	
                General Allocation Principles

              	
                2

              
	
                Section 1.3.

              	
                Allocation Conventions

              	
                2

              
	 
	
                ARTICLE II

              
	
                PREPARATION OF FILING OF TAX RETURNS

              
	 
	
                Section 2.1.

              	
                TFMC Separate Returns and Joint Returns

              	
                3

              
	
                Section 2.2.

              	
                TEN Separate Returns

              	
                3

              
	
                Section 2.3.

              	
                Tax Reporting Practices

              	
                3

              
	
                Section 2.4.

              	
                TEN Carrybacks and Claims for Refund

              	
                4

              
	
                Section 2.5.

              	
                Apportionment of Tax Attributes

              	
                5

              
	
                Section 2.6

              	
                Certain UK Tax Provisions.

              	
                6

              
	
                Section 2.7.

              	
                French Tax Consolidation

              	
                7

              
	
                Section 2.8.

              	
                Equity Compensation

              	
                7

              
	 
	
                ARTICLE III

              
	
                TAX PAYMENTS

              
	 
	
                Section 3.1.

              	
                Taxes Shown on Tax Returns

              	
                8

              
	
                Section 3.2.

              	
                Adjustments Resulting in Underpayments

              	
                8

              
	
                Section 3.3.

              	
                Indemnification Payments

              	
                8

              
	 
	
                ARTICLE IV

              
	
                TAX BENEFITS

              
	 
	
                Section 4.1.

              	
                Tax Refunds

              	
                8

              
	
                Section 4.2.

              	
                Other Tax Benefits

              	
                9

              
	 
	
                ARTICLE V

              
	
                ADDITIONAL COVENANTS

              
	 
	
                Section 5.1.

              	
                Assistance and Cooperation

              	
                9

              
	
                Section 5.2.

              	
                Tax Return Information

              	
                10

              
	
                Section 5.3.

              	
                Reliance by TFMC

              	
                10

              
	
                Section 5.4.

              	
                Reliance by TEN

              	
                11

              
	
                Section 5.5.

              	
                Separation Taxes

              	
                11

              
	
                Section 5.6.

              	
                Quarterly Meetings

              	
                11

              

         

        
          i

          
            

        

        	
                ARTICLE VI

              
	
                TAX RECORDS

              
	 
	
                Section 6.1.

              	
                Retention of Tax Records

              	
                11

              
	
                Section 6.2.

              	
                Access to Tax Records

              	
                12

              
	
                Section 6.3.

              	
                Preservation of Privilege

              	
                12

              
	 
	
                ARTICLE VII

              
	
                TAX CONTESTS

              
	 
	
                Section 7.1.

              	
                Notice

              	
                13

              
	
                Section 7.2.

              	
                Control of Tax Contests

              	
                13

              
	 
	
                ARTICLE VIII

              
	
                SURVIVAL OF OBLIGATIONS

              
	 
	
                Section 8.1.

              	
                Survival of Obligations

              	
                15

              
	 
	
                ARTICLE IX

              
	
                TAX TREATMENT OF INTEREST

              
	 
	
                Section 9.1.

              	
                Tax Treatment of Interest

              	
                15

              
	 
	
                ARTICLE X

              
	
                GROSS-UP OF INDEMNIFICATION PAYMENTS

              
	 
	
                Section 10.1.

              	
                Gross-Up of Indemnification Payments

              	
                15

              
	 
	
                ARTICLE XI

              
	
                DISPUTE RESOLUTION

              
	 
	
                Section 11.1.

              	
                Dispute Resolution

              	
                16

              
	 
	
                ARTICLE XII

              
	
                MISCELLANEOUS

              
	 
	
                Section 12.1.

              	
                Termination

              	
                16

              
	
                Section 12.2.

              	
                Corporate Power

              	
                16

              
	
                Section 12.3.

              	
                Modifications or Amendments

              	
                16

              
	
                Section 12.4.

              	
                Waivers of Default

              	
                17

              
	
                Section 12.5.

              	
                Counterparts

              	
                17

              
	
                Section 12.6.

              	
                Governing Law

              	
                17

              
	
                Section 12.7.

              	
                Notices

              	
                17

              
	
                Section 12.8.

              	
                Entire Agreement

              	
                18

              
	
                Section 12.9.

              	
                No Third-Party Beneficiaries

              	
                19

              
	
                Section 12.10.

              	
                Severability

              	
                19

              
	
                Section 12.11.

              	
                Interpretation

              	
                19

              

         

        

        
          ii

          
            

        

        	
                Section 12.12.

              	
                Defined Terms

              	
                19

              
	
                Section 12.13.

              	
                Assignment

              	
                19

              
	
                Section 12.14.

              	
                Specific Performance

              	
                19

              
	
                Section 12.15.

              	
                Payment Terms

              	
                20

              
	
                Section 12.16.

              	
                Survival of Covenants

              	
                20

              
	
                Section 12.17.

              	
                Construction

              	
                21

              
	
                Section 12.18.

              	
                Performance

              	
                21

              
	
                Section 12.19.

              	
                No Admission of Liability

              	
                21

              
	
                Section 12.20.

              	
                Limitations of Liability

              	
                21

              
	
                Section 12.21.

              	
                Other Agreements

              	
                21

              
	 	 	 
	
                Annexes

              	 	 
	
                Annex I

              	
                Defined Terms

              	 
	 	 	 
	
                Exhibits

              	 	 
	
                Exhibit A

              	
                French Group Exit Agreements

              	 

        

        

        
          iii

          
            

        

        
        TAX MATTERS AGREEMENT

         

        This TAX MATTERS AGREEMENT (this “Agreement”) is entered into effective as of February 16, 2021, by and between TechnipFMC plc, a public limited company formed under
          the laws of England and Wales (“TFMC”) and Technip Energies N.V., a public limited liability company formed under the laws of the Netherlands and a wholly owned subsidiary of TFMC (“TEN”).  TFMC and TEN are each a “Party” and
          are sometimes referred to herein collectively as the “Parties.”

         

        RECITALS

         

        WHEREAS, TFMC, acting together with its Subsidiaries, currently conducts the TFMC Business and the TEN Business;

         

        WHEREAS, TFMC and TEN have entered into that certain Separation and Distribution Agreement, dated as of January 7, 2021 (the “Separation Agreement”) pursuant to which
          the Separation will be consummated;

         

        WHEREAS, the Parties intend that the Distribution will be a distribution to which Section 311(b) of the Internal Revenue Code of 1986, as amended (the “Code”) applies
          (the “Intended Tax Treatment”); and

         

        WHEREAS, TFMC and TEN desire to set forth their agreement on the rights and obligations of TFMC and TEN and the members of the TFMC Group and the TEN Group, respectively,
          with respect to (a) the administration and allocation of federal, state, local, and foreign Taxes incurred in Tax Periods beginning prior to the Distribution Date, (b) Taxes resulting from the Distribution and transactions effected in connection
          with the Distribution and (c) various other Tax matters.

         

        NOW, THEREFORE, in consideration of the foregoing and the mutual agreements, provisions and covenants contained in this Agreement, the Parties hereby agree as follows:

         

        ARTICLE I

        ALLOCATION OF TAX LIABILITIES AND TAX-RELATED LOSSES

         

        Section 1.1.          General Rule.

         

        (a)          TFMC
              Liability.  Except with respect to Taxes and Tax-Related Losses described in Section 1.1(b), to the fullest extent permitted by law, TFMC shall be liable for, and shall cause the other members of the TFMC Group to, indemnify,
            defend and hold harmless TEN and each member of the TEN Group from and against any and all liabilities of TEN and any member of the TEN Group relating to, arising out of or resulting from, directly or indirectly, any of the following items
            (without duplication), in each case other than any Taxes imposed on TEN or any member of the TEN Group pursuant to provisions of Treasury Regulations § 1.1502-6 (or similar provisions of state, local, or foreign Tax Law) as a result of any such
            member being or having been a member of a Prior Group:

         

        
          1

          
            

        

        (i)          Taxes that are allocated to TFMC under
            this Article I;

         

        (ii)         any Tax resulting from a breach of any of
            covenant of TFMC or any member of the TFMC Group in this Agreement, the Separation Agreement or any Ancillary Agreement; and

         

        (iii)        50% of all Separation Taxes.

         

        (b)          TEN
              Liability.  TEN shall, to the fullest extent permitted by law, be liable for, and shall cause the other members of the TEN Group to, indemnify, defend and hold harmless TFMC and each member of the TFMC Group from and against any and
            all liabilities of TFMC and any member of the TFMC Group relating to, arising out of or resulting from, directly or indirectly, any of the following items (without duplication):

         

        (i)          Taxes which are allocated to TEN under
            this Article I;

         

        (ii)         any Tax resulting from a breach of any of
            TEN’s covenants in this Agreement, the Separation Agreement or any Ancillary Agreement; and

         

        (iii)        50% of all Separation Taxes.

         

        Section 1.2.          General Allocation Principles. Except as otherwise provided
          in this Article I, all Taxes shall be allocated as follows:

         

        (a)          Allocation

              of Taxes for Joint Returns. TFMC shall be responsible for all Taxes reported, or required to be reported, on any Joint Return that any member of the TFMC Group files or is required to file under the Code or other applicable Tax Law;
            provided, however, that to the extent any such Joint Return includes any Tax Item attributable to any member of the TEN Group or to the TEN Business for any Post-Distribution Period, TEN shall be responsible for all Taxes attributable to such
            Tax Items, computed in a manner reasonably determined by TFMC and in good faith cooperation with TEN.

         

        (b)          Allocation

              of Taxes for Separate Returns.

         

        (i)          TFMC shall be responsible for all Taxes
            reported, or required to be reported, on a TFMC Separate Return.

         

        (ii)         TEN shall be responsible for all Taxes
            reported, or required to be reported, on a TEN Separate Return.

         

        (c)          Taxes
              Not Reported on Tax Returns.

         

        (i)          TFMC shall be responsible for any Tax
            attributable to any member of the TFMC Group or to the TFMC Business that is not required to be reported on a Tax Return.

         

        (ii)         TEN shall be responsible for any Tax
            attributable to any member of the TEN Group or to the TEN Business that is not required to be reported on a Tax Return.

         

        Section 1.3.          Allocation Conventions.

         

        

        
          2

          
            

        

        (a)          All Taxes allocated pursuant to Section

              1.2(a) shall be allocated in accordance with the Closing of the Books Method; provided, however, that if applicable Tax Law does not permit a member of the TEN Group to close its Tax Period on the Distribution Date, the Tax attributable
            to the operations of the members of the TEN Group for any Pre-Distribution Period shall be the Tax computed using a hypothetical closing of the books consistent with the Closing of the Books Method unless otherwise agreed to by the Parties.

         

        (b)          Any Tax Item of TEN or any member of the
            TEN Group arising from a transaction engaged in by TEN or any member of the TEN Group outside of the ordinary course of business on the Distribution Date after the Effective Time shall be properly allocable to TEN and any such transaction by or
            with respect to TEN or any member of the TEN Group occurring after the Effective Time shall be treated for all Tax purposes (to the extent permitted by applicable Tax Law) as occurring at the beginning of the day following the Distribution Date
            in accordance with the principles of Treasury Regulation § 1.1502-76(b) or any similar provisions of state, local or foreign Law; provided that the foregoing shall not include any action that is undertaken pursuant to the Transactions.

         

        ARTICLE II

        PREPARATION OF FILING OF TAX RETURNS

         

        Section 2.1.          TFMC Separate Returns and Joint Returns.

         

        (a)          TFMC shall prepare and file, or cause to
            be prepared and filed, at TFMC’s expense, all TFMC Separate Returns and Joint Returns, and each member of the TEN Group to which any such Joint Return relates shall execute and file such consents, elections and other documents as TFMC may
            reasonably determine, after consulting with TEN in good faith, are required or appropriate. TEN will elect and join, and will cause its respective Affiliates to elect and join, in filing any Joint Returns that TFMC reasonably determines are
            required to be filed or that TFMC elects to file, in each case pursuant to this Section 2.1(a).

         

        (b)          The Parties and their respective
            Affiliates shall elect to close the Tax Period of each member of the TEN Group member on the Distribution Date, to the extent permitted by applicable Tax Law without changing the fiscal year of such member of the TEN Group.

         

        (c)          TFMC shall submit to TEN a draft of the
            portions of any Joint Return that reflect a Tax liability allocated to TEN pursuant to Section 1.2(a).  TFMC shall (i) use its commercially reasonable efforts to make such portions of a Joint Return available for review as required
            under this Section 2.1(c) sufficiently in advance of the due date for filing of such Joint Return to provide TEN with a meaningful opportunity to analyze and comment on such portions of such Joint Return but in no event less than twenty
            (20) days prior to the filing of such Joint Return and (ii) modify any such Joint Return to take into account any reasonable comments provided by TEN.

         

        Section 2.2.          TEN Separate Returns.  TEN shall prepare and file (or cause
          to be prepared and filed), at TEN’s expense, all TEN Separate Returns.

         

        Section 2.3.          Tax Reporting Practices.

         

        
          3

          
            

        

        (a)          General
              Rule.  Except as provided in Section 2.3(b), TFMC shall prepare any Straddle Period Joint Return in accordance with past practices, permissible accounting methods, elections or conventions (“Past Practices”) used by the
            members of the TFMC Group and the members of the TEN Group prior to the Distribution Date with respect to such Tax Return to the extent permitted by applicable Law, and to the extent any items, methods or positions are not covered by Past
            Practices (or is not permitted under applicable Law to be prepared consistently with Past Practices), then TFMC shall prepare such Tax Return in accordance with reasonable Tax accounting practices selected by TFMC.  With respect to any Tax
            Return that TEN has the obligation and right to prepare, or cause to be prepared, under this Article II, to the extent such Tax Return is for a Pre-Distribution Period or Straddle Period and could affect any member of the TFMC Group, or
            such Tax Return is for any other Tax Period and could reasonably be expected to adversely affect any member of the TFMC Group, such Tax Return shall be prepared in accordance with Past Practices used by the members of the TFMC Group and the
            members of the TEN Group prior to the Distribution Date with respect to such Tax Return (unless the Parties jointly determine that there is not at least “substantial authority,” within the meaning of Section 6662(d)(2)(B)(i) of the Code (or any
            corresponding or similar provision of state, local or foreign Law) (“Substantial Authority”), for the use of such Past Practices); provided, however, that to the extent any items, methods or positions are not covered by Past Practices
            (or in the event the Parties jointly determine that there is not Substantial Authority for the use of such Past Practices), such Tax Return shall be prepared in accordance with reasonable Tax accounting practices selected by TEN.

         

        (b)          Consistency

              with Intended Tax Treatment.  The Parties shall prepare all Tax Returns consistent with (i) the Intended Tax Treatment and (ii) the Valuations unless, in each case, and then only to the extent, an alternative position is required
            pursuant to a Final Determination.

         

        (c)          Shared
              Contracts and Shared Permits.  Each of TEN and TFMC shall, and shall cause the members of its Group to, (i) treat for all Tax purposes the portion of each Shared Contract and each Shared Permit inuring to its respective businesses as
            Assets owned by, and/or Liabilities or Taxes of, as applicable, such Party, or its Subsidiaries, as applicable, not later than the Effective Time, and (ii) neither report nor take any Tax position (on a Tax Return or otherwise) inconsistent
            with such treatment (unless required by applicable Law).

         

        Section 2.4.          TEN Carrybacks and Claims for Refund.

         

        (a)          TEN agrees that, unless TFMC consents in
            writing (which consent may not be unreasonably withheld, conditioned, or delayed) or as required by Law, (i) no member of the TEN Group (nor its successors) shall file any Adjustment Request with respect to any Tax Return that could affect any
            Joint Return or any other Tax Return reflecting Taxes that are allocated to TFMC under Article I and (ii) any available elections to waive the right to claim any TEN Carryback in any Joint Return or any other Tax Return reflecting Taxes
            that are allocated to TFMC under Article I shall be made, and no affirmative election shall be made to claim any such TEN Carryback. In the event that TEN (or the appropriate member of the TEN Group) is prohibited by applicable Law from
            waiving or otherwise forgoing a TEN Carryback or TFMC consents to a TEN Carryback (which consent may not be unreasonably withheld, conditioned, or delayed), TFMC shall cooperate with TEN, at TEN’s expense, in seeking from the appropriate Tax
            Authority such Tax Benefit as reasonably would result from such TEN Carryback, to the extent that such Tax Benefit is directly attributable to such TEN Carryback, and shall pay over to TEN the amount of such Tax Benefit within twenty (20) days
            after such Tax Benefit is actually realized by the TFMC Group; provided, however, that TEN shall, to the fullest extent permitted by law, indemnify, defend and hold harmless TFMC and each member of the TFMC Group from and against any and all
            collateral Tax consequences relating to, arising out of or resulting from, directly or indirectly, any such TEN Carryback, including the loss or postponement of any benefit from the use of Tax Attributes generated by a member of the TFMC Group
            if (i) such Tax Attributes expire unused, but would have been utilized but for such TEN Carryback, or (ii) the use of such Tax Attributes is postponed to a later Tax Period than the Tax Period in which such Tax Attributes would have been used
            but for such TEN Carryback.

         

        
          4

          
            

        

        (b)          TFMC agrees that, unless TEN consents in
            writing (which consent may not be unreasonably withheld, conditioned, or delayed) or as required by Law, no member of the TFMC Group shall file any Adjustment Request with respect to any TEN Separate Return.

         

        Section 2.5.          Apportionment of Tax Attributes.

         

        (a)          Tax Attributes arising in a
            Pre-Distribution Period will be allocated to (and the benefits and burdens of such Tax Attributes will inure to) the members of the TFMC Group and the members of the TEN Group in accordance with the Code, Treasury Regulations, and any other
            applicable Tax Law, and, in the absence of controlling legal authority or unless otherwise provided under this Agreement, including pursuant to Section 2.6, Tax Attributes shall be allocated to the legal entity that created such Tax
            Attributes.

         

        (b)          Except as provided in Section 2.6,
            as soon as reasonably practicable after the close of the Tax Period in which the Distribution Date occurs but in no event less than thirty (30) days prior to the filing of the applicable Joint Return allocating or apportioning any group basis
            Tax Attribute to the members of the TEN Group, TFMC shall deliver to TEN its determination in writing of the portion, if any, of any earnings and profits, Tax Attributes, overall foreign loss or other affiliated, consolidated, combined,
            unitary, fiscal unity or other group basis Tax Attribute which is allocated or apportioned to the members of the TEN Group in respect of such Joint Return under applicable Tax Law and this Agreement (“Proposed Allocation”). TEN shall review such Proposed Allocation and provide TFMC any comments with respect thereto no later than ten (10) days prior to filing any applicable Joint Return. TFMC shall accept any such comments
            that are reasonable, and such resulting determination will become final (“Final Allocation”). All members of the TFMC Group and TEN Group shall prepare all Tax Returns in accordance the Final Allocation. In the event of an adjustment to
            the earnings and profits, any Tax Attributes, overall foreign loss or other affiliated, consolidated, combined, unitary, fiscal unity or other group basis attribute, TFMC shall promptly notify TEN in writing of such adjustment. For the
            avoidance of doubt, TFMC shall not be liable to any member of the TEN Group for any failure of any determination under this Section 2.5(b) to be accurate under applicable Tax Law; provided such determination was made in good faith with
            reasonable communication and cooperation with TEN.

         

        (c)          Except as otherwise provided herein, to
            the extent that the amount of any Tax Attribute is later reduced or increased by a Tax Authority or Tax Proceeding, such reduction or increase shall be allocated to the Party to which such Tax Attribute was allocated pursuant to Section
              2.5(a), as agreed by the Parties.

         

        
          5

          
            

        

        Section 2.6.          Certain UK Tax Provisions.

         

        (a)          UK Group Relief.

         

        (i)          TFMC shall be responsible for determining
            the amounts for purposes of UK Group Relief available to be surrendered in accordance with and subject to applicable Law (A) by any member of the TFMC Group to any member of the TEN Group, or (B) by any member of the TEN Group to any member of
            the TFMC Group, as the case may be (save in respect of any UK Group Relief arrangements for any Pre-Distribution Period intended to be effective and notified between the Parties before the date of this Agreement, after taking account of any
            other UK Tax Relief available for use within (including between members of) the TFMC Group and within (including between members of) the TEN Group which shall be available for use in priority to surrenders available under clauses (A) and (B) of
            this Section 2.6(a)(i)).

         

        (ii)          Subject to both Parties agreeing to and
            consenting to such surrenders, the Parties shall make, or shall cause to be made, such elections and shall take such other actions that are necessary or appropriate to give effect to the surrender of any amounts referred to in Section
              2.6(a)(i)(A) and (B), and to ensure that such surrenders are allowed in full by HM Revenue & Customs. For the avoidance of doubt, the Parties shall be treated as agreeing and consenting to any surrenders arising in respect of
            any UK Group Relief arrangements for any Pre-Distribution Period notified between the Parties before the date of this Agreement.

         

        (iii)          Unless otherwise agreed between the
            Parties, in consideration of such surrenders as are referred to in Section 2.6(a)(i)(A), TEN shall procure that the relevant member of the TEN Group shall pay to the relevant member of the TFMC Group such amount of UK corporation Tax as
            is saved by the relevant member of the TEN Group (including where UK corporation Tax previously paid has been refunded) as a result of the relevant surrender, such amount to be paid no later than the time which such UK corporation Tax saved
            would otherwise have been paid to a Tax Authority.

         

        (iv)          Unless otherwise agreed between the
            Parties, in consideration of such surrenders as are referred to in Section 2.6(a)(i)(B), TFMC shall procure that the relevant member of the TFMC Group shall pay to the relevant member of the TEN Group such amount of UK corporation Tax
            as is saved by the relevant member of the TFMC Group (including where UK corporation Tax previously paid has been refunded) as a result of the relevant surrender, such amount to be paid no later than the time which such UK corporation Tax saved
            would otherwise have been paid to a Tax Authority.

         

        (b)          Preparation of
            Interest Restriction Returns.

         

        (i)          Subject to Section 2.6(b)(v), The
            Parties agree that Technip UK Limited is and shall remain the reporting company for the purposes of Schedule 7A TIOPA in respect of members of the TEN Group and the TFMC Group for the purposes of Part 10 of TIOPA, for all Pre-Distribution
            Periods and for the Straddle Period.

         

        
          6

          
            

        

        (ii)          Subject to Section 2.6(b)(v),
            Technip UK Limited shall have conduct of preparing and submitting to and agreeing with HM Revenue & Customs all interest restriction returns for the purposes of Schedule 7A TIOPA in respect of members of the TEN Group and the TFMC Group for
            the purposes of Part 10 of TIOPA, for all Pre-Distribution Periods and for the Straddle Period (the “Interest Restriction Returns”).

         

        (iii)          For the purposes of this Section
              2.6(b):

         

        	

              	(1)	
                a copy of each Interest Restriction Return shall be delivered by Technip UK Limited to TEN and TFMC.

              

         

        	

              	(2)	
                TEN and TFMC shall afford (or procure the affordance) to Technip UK Limited or its duly authorised agents information and assistance which may reasonably be
                  required to prepare, submit and agree all outstanding Interest Restriction Returns; and

              

         

        	

              	(3)	
                TEN and TFMC must as soon as practicable deliver to Technip UK Limited copies of all correspondence sent to or received from HM Revenue & Customs in respect of
                  any Interest Restriction Return.

              

         

        (iv)          No member of the TEN Group nor the TFMC
            Group shall, without the prior written consent of TEN or TFMC (as applicable), revoke or amend any Interest Restriction Return and no member of the TEN Group or the TFMC Group shall elect to become a non-consenting company for the purposes of
            schedule 7A TIOPA.

         

        (v)          TEN shall appoint its own reporting
            company for the purposes of schedule 7A TIOPA in respect of members of the TEN Group, and may be responsible for relevant Interest Restriction Returns, for that part of the Straddle Period ending after the Distribution Date.

         

        Section 2.7.          French Tax Consolidation.  As a result of the Distribution,
          the French Tax resident members of the TEN Group that are members of the French Tax consolidated group set-up by TFMC in accordance with the provisions of Article 223 A et seq. of the Code général des impôts will exit from such Tax consolidated group with effect as from January 1, 2021.  The French Tax consequences of such exit will be governed by the provisions of the French Tax Group Exit
          Agreements attached hereto as Exhibit A. To the extent that any of the terms of this Agreement are inconsistent with the terms of the French Group Exit Agreements, the terms of the French Group Exit Agreements shall control.

         

        Section 2.8.          Equity Compensation.  Tax deductions with respect to TFMC
          Equity Compensation Awards and TEN Equity Compensation Awards shall be allocated to the members of the TFMC Group and the members of the TEN Group in accordance with the Code, Treasury Regulations, and any other applicable Tax Law.

         

        
          7

          
            

        

        

        

        ARTICLE III

        TAX PAYMENTS

         

        Section 3.1.          Taxes Shown on Tax Returns.  TFMC shall pay (or cause to be
          paid) to the proper Tax Authority the Tax shown as due on any Tax Return that a member of the TFMC Group is responsible for preparing under Article II, and TEN shall pay (or cause to be paid) to the proper Tax Authority the Tax shown as
          due on any Tax Return that a member of the TEN Group is responsible for preparing under Article II. At least three (3) Business Days prior to any Payment Date for any Straddle Period Joint Return, TEN shall pay to TFMC the amount TEN is
          responsible for under the provisions of Article I as calculated pursuant to this Agreement.

         

        Section 3.2.          Adjustments Resulting in Underpayments.  In the case of any
          adjustment pursuant to a Final Determination with respect to any Tax, the Party to which such Tax is allocated pursuant to this Agreement shall pay to the applicable Tax Authority when due any additional Tax required to be paid as a result of
          such adjustment or, if the other Party is required under applicable Law to make such payment, to reimburse the paying Party with respect to such adjustment.

         

        Section 3.3.          Indemnification Payments.

         

        (a)          Except as provided in the last sentence of
            Section 3.1, if any Party (the “Payor”) is required under applicable Tax Law to pay to a Tax Authority a Tax that another Party (the “Required Party”) is liable for or required to indemnify the Payor for under this
            Agreement, the Required Party shall reimburse the Payor within thirty (30) Business Days of delivery by the Payor to the Required Party of an invoice for the amount due, accompanied by evidence of payment and a statement detailing the Taxes
            paid and describing in reasonable detail the particulars relating thereto.  Except as otherwise provided in the following sentence, the Required Party shall also pay to the Payor any reasonable costs and expenses related to the foregoing
            (including reasonable attorneys’ fees and expenses) within thirty (30) Business Days after the Payor’s written demand therefor. Notwithstanding the foregoing, if TFMC or TEN disputes in good faith the fact or the amount of its obligation
            hereunder, then no payment of the amount in dispute shall be required until any such good faith dispute is resolved in accordance with Section 11.1 hereof.

         

        (b)          All indemnification payments under this
            Agreement shall be made by TFMC directly to TEN and by TEN directly to TFMC; provided, however, that if the Parties mutually agree for administrative convenience with respect to any such indemnification payment, any member of the TFMC Group, on
            the one hand, may make such indemnification payment to any member of the TEN Group, on the other hand, and vice versa.

         

        ARTICLE IV

        TAX BENEFITS

         

        Section 4.1.          Tax Refunds.   TFMC shall be entitled (subject to the
          provisions in Section 2.4) to any refund (and any interest thereon received from the applicable Tax Authority) of Taxes for which TFMC is liable hereunder, and TEN shall be entitled (subject to the provisions in Section 2.4) to
          any refund (and any interest thereon received from the applicable Tax Authority) of Taxes for which TEN is liable hereunder. A Party receiving a refund to which another Party is entitled hereunder shall pay over such refund to such other Party
          within thirty (30) Business Days after such refund is received.

         

        
          8

          
            

        

        Section 4.2.          Other Tax Benefits.

         

        (a)          If a member of the TEN Group or TFMC Group
            actually realizes any Tax Benefit, as a result of any liability, obligation, loss or payment (each, a “Loss”) for which a member of one Party’s Group is required to indemnify any member of the other Party’s Group pursuant to this
            Agreement, the Separation Agreement or any Ancillary Agreement (in each case, without duplication of any amounts payable or taken into account under this Agreement, the Separation Agreement or any Ancillary Agreement), and such Tax Benefit
            would not have arisen but for such adjustment or Loss (determined on a “with and without” basis), the Party whose Group actually realizes such Tax Benefit, shall make a payment to the other Party in an amount equal to the amount of such
            actually realized Tax Benefit in cash within twenty (20) Business Days of actually realizing such Tax Benefit. To the extent that any Tax Benefit (or portion thereof) in respect of which any amounts were paid over pursuant to the foregoing
            provisions of this Section 4.2(a) is subsequently disallowed by the applicable Tax Authority, the Party that received such amounts shall promptly repay such amounts (together with any penalties, interest or other charges imposed by the
            relevant Tax Authority) to the other Party.

         

        (b)          No later than twenty (20) Business Days
            after a Tax Benefit described in Section 4.2(a) is actually realized by a member of the TFMC Group or a member of the TEN Group, TFMC or TEN, as the case may be, shall provide the other Party with a written calculation of the amount
            payable to such other Party pursuant to Section 4.2(a). In the event that TFMC or TEN, as the case may be, disagrees with any such calculation described in this Section 4.2(b), such Party shall so notify the other Party in
            writing within twenty (20) Business Days of receiving such written calculation. The Parties shall endeavor in good faith to resolve such disagreement, and, failing that, the amount payable under this Section 4.2 shall be determined in
            accordance with Section 11.1.

         

        ARTICLE V

        ADDITIONAL COVENANTS

         

        Section 5.1.          Assistance and Cooperation.

         

        (a)          The Parties shall cooperate (and cause
            their respective Affiliates to cooperate) with each other and with each other’s agents, including accounting firms and legal counsel, in connection with Tax matters relating to the Parties and their Affiliates, including (i) preparation and
            filing of Tax Returns, (ii) determining the liability for and amount of any Taxes due (including estimated Taxes) or the right to and amount of any refund of Taxes, (iii) examinations of Tax Returns, and (iv) any administrative or judicial
            proceeding in respect of Taxes assessed or proposed to be assessed.  Such cooperation shall include making all information and documents in their possession relating to any other Party and its Affiliates reasonably available to such other Party
            as provided in Article VI.  Each of the Parties shall also make available to any other Party, as reasonably requested and available, personnel (including officers, directors, employees and agents of the Parties or their respective
            Affiliates) responsible for preparing, maintaining, and interpreting information and documents relevant to Taxes, and personnel reasonably required as witnesses or for purposes of providing information or documents in connection with any
            administrative or judicial proceedings relating to Taxes.  TEN and each other member of the TEN Group shall cooperate with TFMC and take any and all actions reasonably requested by TFMC in connection with obtaining the Tax Opinions (including,
            by making any new representation or covenant, confirming any previously made representation or covenant or providing any materials or information requested by any Tax Advisor; provided that neither TEN nor any other member of the TEN Group
            shall be required to make or confirm any representation or covenant that is inconsistent with historical facts or as to future matters or events over which it has no control).

         

        
          9

          
            

        

        (b)          Any information or documents provided
            under this Agreement shall be kept confidential by the Party receiving the information or documents, except as may otherwise be necessary in connection with the filing of Tax Returns or in connection with any administrative or judicial
            proceedings relating to Taxes.  In addition, in the event that TFMC determines that the provision of any information or documents to TEN or any TEN Affiliate, or TEN determines that the provision of any information or documents to TFMC or any
            TFMC Affiliate, could be commercially detrimental, violate any Law or agreement or waive any Privilege, the Parties shall use commercially reasonable efforts to permit each other’s compliance with its obligations under this Article V in
            a manner that avoids any such harm or consequence.

         

        Section 5.2.          Tax Return Information.  Each of TFMC and TEN acknowledges,
          and shall cause each member of their respective Group to acknowledge, that time is of the essence in relation to any request for information, assistance or cooperation made pursuant to Section 5.1 or this Section 5.2. Each of TFMC
          and TEN, and each member of their respective Group, acknowledges that failure to conform to the reasonable deadlines set by the Party making such request could cause irreparable harm. Each Party shall provide to the other Party information and
          documents relating to its Group reasonably required by the other Party to prepare Tax Returns, including any pro forma returns required by the Responsible Party for purposes of preparing such Tax Returns.  Any information or documents the
          Responsible Party requires to prepare such Tax Returns shall be provided in such form as the Responsible Party reasonably requests and at or prior to the time reasonably specified by the Responsible Party so as to enable the Responsible Party to
          file such Tax Returns on a timely basis.

         

        Section 5.3.          Reliance by TFMC.  If any member of the TEN Group supplies
          information to a member of the TFMC Group in connection with a Tax liability and an officer of a member of the TFMC Group signs a statement or other document under penalties of perjury in reliance upon the accuracy of such information, then upon
          the written request of such member of the TFMC Group identifying the information being so relied upon, the chief financial officer of TEN (or any officer of TEN as designated by the chief financial officer of TEN) shall certify in writing that to
          his or her knowledge (based upon consultation with appropriate employees) the information so supplied is accurate and complete. TEN shall, to the fullest extent permitted by Law, indemnify, defend and hold harmless TFMC and each member of the
          TFMC Group and each of their respective past, present and future directors, officers, employees and agents, in each case in their respective capacities as such, and each of the heirs, executors, successors and assigns of any of the foregoing from
          and against any Liability relating to, arising out of or resulting from, directly or indirectly, a member of the TEN Group having supplied, pursuant to this Article V, a member of the TFMC Group with inaccurate or incomplete information
          in connection with a Tax liability.

         

        
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        Section 5.4.          Reliance by TEN.  If any member of the TFMC Group supplies
          information to a member of the TEN Group in connection with a Tax liability and an officer of a member of the TEN Group signs a statement or other document under penalties of perjury in reliance upon the accuracy of such information, then upon
          the written request of such member of the TEN Group identifying the information being so relied upon, the chief financial officer of TFMC (or any officer of TFMC as designated by the chief financial officer of TFMC) shall certify in writing that
          to his or her knowledge (based upon consultation with appropriate employees) the information so supplied is accurate and complete. TFMC shall, to the fullest extent permitted by Law, indemnify, defend and hold harmless TEN and each member of the
          TEN Group and each of their respective past, present and future directors, officers, employees and agents, in each case in their respective capacities as such, and each of the heirs, executors, successors and assigns of any of the foregoing from
          and against any Liability relating to, arising out of or resulting from, directly or indirectly, a member of the TFMC Group having supplied, pursuant to this Article V, a member of the TEN Group with inaccurate or incomplete information
          in connection with a Tax liability.

         

        Section 5.5.          Separation Taxes.  As soon as reasonably practicable after
          the close of the Tax Period in which the Distribution Date occurs but in no event more than one hundred and eighty (180) days after the close of such Tax Period, TFMC shall deliver to TEN a schedule showing in reasonable detail acceptable to TEN
          the estimated calculation of Separation Taxes. No later than thirty (30) days prior to the filing of any Joint Return on which such Separation Taxes are reported, TFMC shall deliver to TEN a final calculation of Separation Taxes reported on such
          Joint Return. TEN shall review such schedule of Separation Taxes and provide TFMC any comments with respect thereto no later than ten (10) days prior to filing any such applicable Joint Return. TFMC shall accept any such comments that are
          reasonable, and such resulting determination will become final. TEN shall (and shall cause its Affiliates to) reasonably cooperate with TFMC to correct any errors in the chronology or completion of any transactions intended to facilitate, or
          otherwise effectuated in connection with, the Separation, and take any and all commercially reasonable actions requested by TFMC to minimize any Separation Taxes.

         

        Section 5.6.          Quarterly Meetings.  Executives designated by the Parties
          responsible for Tax matters of each respective Party shall meet in person or by teleconference or video conference at or promptly after the conclusion of each calendar quarter beginning with the first quarter following the Distribution Date to
          discuss issues relating to Tax matters of the Parties and the administration of this Agreement, except as otherwise agreed by the Parties (whether by electronic mail, telephone or otherwise).

         

        ARTICLE VI

        TAX RECORDS

         

        Section 6.1.          Retention of Tax Records.  Each of TFMC and TEN shall
          preserve and keep all Tax Records exclusively relating to the assets and activities of its Group for Pre-Distribution Periods, and TFMC shall preserve and keep all other Tax Records relating to Taxes of the TFMC Group and TEN Group for
          Pre-Distribution Periods, for so long as the contents thereof may be or become material in the administration of any matter under the Code or other applicable Tax Law, but in any event until the later of (i) the expiration of any applicable
          statutes of limitations, or (ii) seven (7) years after the Distribution Date (such later date, the “Retention Date”).  After the Retention Date, each of TFMC and TEN may dispose of such Tax Records upon sixty (60) Business Days’ prior
          written notice to the other Party.  If, prior to the Retention Date, (a) TFMC or TEN reasonably determines that any Tax Records which it would otherwise be required to preserve and keep under this Article VI are no longer material in the
          administration of any matter under the Code or other applicable Tax Law and the other Party agrees, then such first Party may dispose of such Tax Records upon sixty (60) Business Days’ prior notice to the other Party.  Any notice of an intent to
          dispose given pursuant to this Section 6.1 shall include a list of the Tax Records to be disposed of describing in reasonable detail each file, book, or other record accumulation being disposed.  The notified Parties shall have the
          opportunity, at their cost and expense, to copy or remove, within such sixty (60) Business Day period, all or any part of such Tax Records.  If, at any time prior to the Retention Date, a Party or any of its Affiliates determines to decommission
          or otherwise discontinue any computer program or information technology system used to access or store any Tax Records, then such program or system may be decommissioned or discontinued upon ninety (90) Business Days’ prior notice to the other
          Party and the other Party shall have the opportunity, at its cost and expense, to copy, within such ninety (90) Business Day period, all or any part of the underlying data relating to the Tax Records accessed by or stored on such program or
          system.

         

        
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        Section 6.2.          Access to Tax Records.  The Parties shall, and shall cause
          their respective Affiliates to, make available to each other for inspection and copying during normal business hours upon reasonable notice all Tax Records (and, for the avoidance of doubt, any pertinent underlying data accessed or stored on any
          computer program or information technology system) in their possession pertaining to (a) in the case of any Tax Return of the TFMC Group, the portion of such return that relates to Taxes for which the TEN Group may be liable pursuant to this
          Agreement or (b) in the case of any Tax Return of the TEN Group, the portion of such return that relates to Taxes for which the TFMC Group may be liable pursuant to this Agreement, and shall permit the other Party and its Affiliates, authorized
          agents and representatives and any representative of a Tax Authority or other Tax auditor direct access, at the cost and expense of the requesting Party, during normal business hours upon reasonable notice to any computer program or information
          technology system used to access or store any Tax Records, in each case to the extent reasonably required by the other Party in connection with the preparation of Tax Returns or financial accounting statements, audits, litigation, or the
          resolution of items under this Agreement.

         

        Section 6.3.          Preservation of Privilege.  The Parties shall, and shall
          cause their respective Affiliates to, not provide access to, copies of, or otherwise disclose to any Person any documentation relating to Taxes existing prior to the Distribution Date to which Privilege may reasonably be asserted without the
          prior written consent of the Party that may assert a claim of Privilege in respect of such documentation, which such consent may be withheld or conditioned in the sole and absolute discretion of such Party so long as such claim of Privilege may
          be reasonably asserted.

         

        
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        ARTICLE VII

        TAX CONTESTS

         

        Section 7.1.          Notice.  A Party shall provide prompt notice to the other
          Party of any written communication from a Tax Authority regarding any pending Tax audit, assessment or proceeding or other Tax Contest of which it becomes aware, which notice shall in no event be later than thirty (30) days after receipt of such
          written communication (provided that any failure on a Party to so notify the other Party shall not limit any of the obligations of such other Party under this Agreement except to the extent such failure materially prejudices the defense of any
          Tax audit, assessment or proceeding or other Tax Contest), (a) related to Taxes for Tax Periods for which it is indemnified by the other Party hereunder or for which it may be required to indemnify the other Party hereunder, (b) relating to a TEN
          Separate Return for a Pre-Distribution Period or Straddle Period that could reasonably be expected to adversely affect any member of the TFMC Group or for any other Tax Period that could reasonably be expected to materially adversely affect any
          member of the TFMC Group, or (c) otherwise relating to the Intended Tax Treatment or the Separation (including the resolution of any Tax Contest relating thereto).  Such notice shall attach copies of the pertinent portion of any written
          communication from a Tax Authority and contain factual information (to the extent known) describing any asserted Tax liability in reasonable detail and shall be accompanied by copies of any notice and other documents received from any Tax
          Authority in respect of any such matters.  If an indemnified Party has knowledge of an asserted Tax liability with respect to a matter for which it is to be indemnified hereunder and such Party fails to give the indemnifying Party prompt notice
          of such asserted Tax liability and the indemnifying Party is entitled under this Agreement to contest the asserted Tax liability, then (i) to the extent the indemnifying Party is precluded from contesting the asserted Tax liability in any forum
          as a result of the failure to give prompt notice, the indemnifying Party shall have no obligation to indemnify the indemnified Party for any Taxes arising out of such asserted Tax liability, and (ii) to the extent the indemnifying Party is not
          precluded from contesting the asserted Tax liability in any forum, but such failure to give prompt notice results in a material monetary detriment to the indemnifying Party, then any amount which the indemnifying Party is otherwise required to
          pay the indemnified Party pursuant to this Agreement shall be reduced by the amount of such detriment.

         

        Section 7.2.          Control of Tax Contests.

         

        (a)          TFMC
              Control.  Notwithstanding anything in this Agreement to the contrary, TFMC shall have the right to control any Tax Contest with respect to any Tax matters relating to; (i) a Joint Return, (ii) a TFMC Separate Return and (iii)
            Separation Taxes.  Subject to Section 7.2(c) and Section 7.2(d), TFMC shall have absolute discretion with respect to any decisions to be made, or the nature of any action to be taken, with respect to any such Tax Contest.

         

        (b)          TEN
              Control.  Except as otherwise provided in this Section 7.2, TEN shall have the right to control any Tax Contest with respect to any TEN Separate Return.  Subject to Section 7.2(c) and Section 7.2(d), TEN shall
            have reasonable discretion, after consultation with TFMC, with respect to any decisions to be made, or the nature of any action to be taken, with respect to any such Tax Contest relating to a TEN Separate Return for a Pre-Distribution Period or
            Straddle Period that could reasonably be expected to adversely affect any member of the TFMC Group or for any other Tax Period that could reasonably be expected to materially adversely affect any member of the TFMC Group, and absolute
            discretion with respect to any decisions to be made, or the nature of any action to be taken, with respect to any other such Tax Contest.

         

        
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        (c)          Settlement

              Rights.  The Controlling Party shall have the sole right to contest, litigate, compromise and settle any Tax Contest without obtaining the prior consent of the Non‐Controlling Party; provided, that

            to the extent any such Tax Contest (i) could give rise to a claim for indemnity by the Controlling Party or its Affiliates against the Non-Controlling Party or its Affiliates under this Agreement, or (ii) is with respect to a TEN Separate
            Return for a Pre-Distribution Period or Straddle Period and could reasonably be expected to adversely affect any member of the TFMC Group or for any other Tax Period that could reasonably be expected to materially adversely affect any member of
            the TFMC Group, then the Controlling Party shall not settle any such Tax Contest without the Non-Controlling Party’s prior written consent (which consent may not be unreasonably withheld, conditioned, or delayed).  Subject to Section 7.2(e),
            and unless waived by the Parties in writing, in connection with any potential adjustment in a Tax Contest as a result of which adjustment the Non-Controlling Party may reasonably be expected to become liable to make any indemnification payment
            to the Controlling Party under this Agreement: (A) the Controlling Party shall keep the Non-Controlling Party informed in a timely manner of all actions taken or proposed to be taken by the Controlling Party with respect to such potential
            adjustment in such Tax Contest; (B) the Controlling Party shall timely provide the Non-Controlling Party copies of any written materials relating to such potential adjustment in such Tax Contest received from any Tax Authority; (C) the
            Controlling Party shall timely provide the Non-Controlling Party with copies of any correspondence or filings submitted to any Tax Authority or judicial authority in connection with such potential adjustment in such Tax Contest; (D) the
            Controlling Party shall consult with the Non-Controlling Party and offer the Non-Controlling Party a reasonable opportunity to comment before submitting any written materials prepared or furnished in connection with such potential adjustment in
            such Tax Contest; and (E) the Controlling Party shall defend such Tax Contest diligently and in good faith.  The failure of the Controlling Party to take any action specified in the preceding sentence with respect to the Non-Controlling Party
            shall not relieve the Non-Controlling Party of any liability and/or obligation which it may have to the Controlling Party under this Agreement except to the extent that the Non-Controlling Party was actually harmed by such failure, and in no
            event shall such failure relieve the Non-Controlling Party from any other liability or obligation which it may have to the Controlling Party.  In the case of any Tax Contest described in this Article VII, “Controlling Party”
            means the Party entitled to control the Tax Contest under such Section and “Non-Controlling Party” means (x) TFMC if TEN is the Controlling Party and (y) TEN if TFMC is the Controlling Party.

         

        (d)          Tax
              Contest Participation.  Subject to Section 7.2(e), and unless waived by the Parties in writing, the Controlling Party shall provide the Non-Controlling Party with written notice reasonably in advance of, and the Non-Controlling
            Party shall have the right to attend and participate in, any formally scheduled meetings with Tax Authorities or hearings or proceedings before any judicial authorities in connection with any potential adjustment in a Tax Contest (i) pursuant
            to which the Non-Controlling Party may reasonably be expected to become liable to make any indemnification payment to the Controlling Party under this Agreement or (ii) that is with respect to a TEN Separate Return for a Pre-Distribution Period
            or Straddle Period and could reasonably be expected to adversely affect any member of the TFMC Group or for any other Tax Period that could reasonably be expected to materially adversely affect any member of the TFMC Group. The failure of the
            Controlling Party to provide any notice specified in this Section 7.2(d) to the Non-Controlling Party shall not relieve the Non-Controlling Party of any liability or obligation which it may have to the Controlling Party under this
            Agreement except to the extent that the Non-Controlling Party was actually harmed by such failure, and in no event shall such failure relieve the Non-Controlling Party from any other liability or obligation which it may have to the Controlling
            Party.

         

        
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        (e)          Joint
              Returns.  Notwithstanding anything in this Article VII to the contrary, in the case of a Tax Contest related to a Joint Return, the rights of TEN and its Affiliates under Section 7.2(c) and Section 7.2(d) shall
            be limited in scope to the portion of such Tax Contest relating to Taxes for which TEN may reasonably expected to become liable to make any indemnification payment to TFMC under this Agreement.

         

        (f)          Power of
              Attorney.  Each member of the TEN Group shall execute and deliver to TFMC (or such member of the TFMC Group as TFMC shall designate) any power of attorney or other similar document reasonably requested by TFMC (or such designee) in
            connection with any Tax Contest (as to which TFMC is the Controlling Party) described in this Article VII.  Each member of the TFMC Group shall execute and deliver to TEN (or such member of the TEN Group as TEN shall designate) any
            power of attorney or other similar document requested by TEN (or such designee) in connection with any Tax Contest (as to which TEN is the Controlling Party) described in this Article VII.

         

        ARTICLE VIII

        SURVIVAL OF OBLIGATIONS

         

        Section 8.1.          Survival of Obligations.  The representations, warranties,
          covenants and agreements set forth in this Agreement shall be unconditional and absolute and shall remain in effect without limitation as to time.

         

        ARTICLE IX

        TAX TREATMENT OF INTEREST

         

        Section 9.1.          Tax Treatment of Interest.  Anything herein or in the
          Separation Agreement to the contrary notwithstanding, to the extent one Party makes a payment of interest to the other Party under this Agreement with respect to the period from the date that the Party receiving the interest payment made a
          payment of Tax to a Tax Authority to the date that the Party making the interest payment reimbursed the Party receiving the interest payment for such Tax payment, the interest payment shall be treated as interest expense to the Party making such
          payment (deductible to the extent provided by Law) and as interest income by the Party receiving such payment (includible in income to the extent provided by Law).  The amount of the payment shall not be adjusted to take into account any
          associated Tax Benefit to the Party making such payment or increase in Tax to the Party receiving such payment.

         

        ARTICLE X

        GROSS-UP OF INDEMNIFICATION PAYMENTS

         

        Section 10.1.        Gross-Up of Indemnification Payments.  Except to the extent
          provided in Section 9.1, any Tax indemnity payment made by a Party under this Agreement shall be increased as necessary so that after making all payments in respect to Taxes imposed on or attributable to such indemnity payment, the
          recipient Party receives an amount equal to the sum it would have received had no such Taxes been imposed.

         

        
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        ARTICLE XI

        DISPUTE RESOLUTION

         

        Section 11.1.        Dispute Resolution.  Any and all disputes, controversies and
          claims arising hereunder, including with respect to (i) the validity, interpretation, performance, breach or termination of this Agreement or (ii) the proper treatment of any Tax not specifically characterized in this Agreement (collectively, “Tax
            Matters Disputes”) shall be resolved through the procedures provided in Article VI of the Separation Agreement, with Tax Matters Disputes included within the meaning of the term “Dispute” for purposes of Article VI of the
          Separation Agreement.

         

        ARTICLE XII

        MISCELLANEOUS

         

        Section 12.1.        Termination.  In the event the Separation Agreement is
          terminated, this Agreement shall automatically become null and void and no Party, nor any Party’s directors, officers or employees, shall have any Liability of any kind to any Person by reason of this Agreement.  After the Distribution, this
          Agreement may not be terminated except by an agreement in writing signed by TFMC and TEN.

         

        Section 12.2.        Corporate Power.

         

        (a)          TFMC represents on behalf of itself and
            each other member of the TFMC Group, and TEN represents on behalf of itself and each other member of the TEN Group, as follows:

         

        (i)          each such Person has the requisite
            corporate or other power and authority and has taken all corporate or other action necessary in order to execute, deliver and perform this Agreement and to consummate the transactions contemplated hereby; and

         

        (ii)          this Agreement has been or will be duly
            executed and delivered by it and constitutes or will constitute a valid and binding agreement of it enforceable in accordance with the terms thereof.

         

        (b)          Each Party acknowledges that it and each
            other Party may execute this Agreement by facsimile, stamp or mechanical signature. Each Party expressly adopts and confirms each such facsimile, stamp or mechanical signature made in its respective name as if it were a manual signature, agrees
            that it shall not assert that any such signature is not adequate to bind such Party to the same extent as if it were signed manually and agrees that at the reasonable request of any other Party at any time it shall as promptly as reasonably
            practicable cause this Agreement to be manually executed (any such execution to be as of the date of the initial date thereof).

         

        Section 12.3.        Modifications or Amendments.  Subject to the provisions of
          applicable Law, and except as otherwise provided in this Agreement, this Agreement may be amended, modified or supplemented only by written instrument signed by the authorized representative of the Party against whom it sought to enforce such
          waiver, amendment, supplement or modification is sought to be enforced; provided, at any time prior to the Effective Time, the terms and conditions of this Agreement, including terms relating to the Transactions, may be amended, modified or
          abandoned by and in the sole and absolute discretion of the TFMC Board without the approval of any Person, including TFMC or TEN.

         

        
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        Section 12.4.        Waivers of Default. Waiver by a Party of any default by the
          other Party of any provision of this Agreement shall not be deemed a waiver by the waiving Party of any subsequent or other default, nor shall it prejudice the rights of the other Party. No failure or delay by a Party in exercising any right,
          power or privilege under this Agreement shall operate as a waiver thereof nor shall a single or partial exercise thereof prejudice any other or further exercise thereof or the exercise of any other right, power or privilege.

         

        Section 12.5.        Counterparts.  This Agreement may be executed in one or more
          counterparts, and by the different parties hereto in separate counterparts, each of which when executed shall be deemed to be an original but all of which taken together shall constitute one and the same agreement. The exchange of a fully
          executed Agreement (in counterparts or otherwise) by facsimile or by electronic delivery in .pdf format shall be sufficient to bind the parties to the terms and conditions of this Agreement.

        

        

        Section 12.6.        Governing Law.  This Agreement (and any claims or Tax Matters
          Disputes arising out of or related hereto or to the transactions contemplated hereby or to the inducement of any Party to enter herein, whether for breach of contract, tortious conduct or otherwise and whether predicated on common law, statute or
          otherwise) shall be governed by and construed and interpreted in accordance with the Laws of the State of New York, irrespective of the choice of laws principles of the State of New York, including all matters of validity, construction, effect,
          enforceability, performance and remedies.

         

        Section 12.7.        Notices.  Any notice, request, instruction or other document
          to be given hereunder by any party to the others shall be in writing and delivered personally or sent by registered or certified mail, postage prepaid or by prepaid overnight courier (providing written proof of delivery), or by electronic mail
          (with confirmed receipt), addressed as follows:

         

        If to TFMC, to:

         

        TechnipFMC plc

        One St. Paul’s Churchyard,

        London EC4M 8AP, United Kingdom

        Attention: Victoria Lazar

        Email: victoria.lazar@technipfmc.com

        Attention: Melody Clark

        Email: melody.clark@technipfmc.com

        

        

        with a copy (which shall not constitute notice) to:

         

        
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        Latham & Watkins LLP

        330 North Wabash Avenue, Suite 2800

        Chicago, IL 60611

        Attention: Ryan Maierson

        Email: ryan.maierson@lw.com

        Attention: Christopher R. Drewry

        Email: christopher.drewry@lw.com

        

        

        If to TEN, to:

         

        Technip Energies N.V.

        6-8 Allée de l’Arche, Faubourg de l’Arche, ZAC Danton, 92400

        Courbevoie, France

        Attention: Pascaline Williams-Duflos

        Email: Pascaline.williamsduflos@technipfmc.com

        Attention: Stephen Siegel

        Email: stephen.siegel@technipfmc.com

        

        

        with a copy (which shall not constitute notice) to:

         

        Davis Polk & Wardwell LLP

        450 Lexington Avenue

        New York, New York 10017

        Attention: William Aaronson

        Email: william.aaronson@davispolk.com

        Attention: Jacques Naquet-Radiguet

        Email: jacques.naquet@davispolk.com

        

        

        or to such other persons or addresses as may be designated in writing by the party to receive such notice as provided above.

         

        Section 12.8.        Entire Agreement.  This Agreement (including any exhibits
          hereto), the Separation Agreement and the other Ancillary Agreements constitute the entire agreement, and supersede all other prior agreements, understandings, representations and warranties both written and oral, among the parties, with respect
          to the subject matter hereof; for the avoidance of doubt, the preceding clause shall apply to all other agreements, whether or not written, in respect of any Tax between or among any member or members of the TFMC Group, on the one hand, and any
          member or members of the TEN Group, on the other hand, which agreements shall be of no further effect between the parties thereto and any rights or obligations existing thereunder shall be fully and finally settled, calculated as of the date
          hereof.  Except as expressly set forth in the Separation Agreement or any Ancillary Agreement: (i) all matters relating to Taxes and Tax Returns of the Parties and their respective Subsidiaries, to the extent such matters are the subject of this
          Agreement, shall be governed exclusively by this Agreement; and (ii) for the avoidance of doubt, in the event of any conflict between the Separation Agreement or any Ancillary Agreement, on the one hand, and this Agreement, on the other hand,
          with respect to such matters, the terms and conditions of this Agreement shall govern.

         

        
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        Section 12.9.        No Third-Party Beneficiaries.  Except for the indemnification
          rights under this Agreement of any TFMC Indemnitee or TEN Indemnitee in their respective capacities as such: (a) the provisions of this Agreement are solely for the benefit of the Parties and are not intended to confer upon any Person (including
          any shareholders of TFMC or shareholders of TEN) except the Parties hereto any rights or remedies hereunder; and (b) there are no third-party beneficiaries of this Agreement and this Agreement shall not provide any third Person (including any
          shareholders of TFMC or shareholders of TEN) with any remedy, claim, reimbursement, claim of action or other right in excess of those existing without reference to this Agreement.

         

        Section 12.10.      Severability. The provisions of this Agreement shall be deemed
          severable and the invalidity or unenforceability of any provision shall not affect the validity or enforceability or the other provisions hereof. If any provision of this Agreement, or the application thereof to any Person or any circumstance, is
          invalid or unenforceable, (a) a suitable and equitable provision shall be substituted therefor in order to carry out, so far as may be valid and enforceable, the intent and purpose of such invalid or unenforceable provision and (b) the remainder
          of this Agreement and the application of such provision to other Persons or circumstances shall not be affected by such invalidity or unenforceability, nor shall such invalidity or unenforceability affect the validity or enforceability of such
          provision, or the application thereof, in any other jurisdiction.

         

        Section 12.11.      Interpretation.  The table
            of contents and headings herein are for convenience of reference only, do not constitute part of this Agreement and shall not be deemed to limit or otherwise affect any of the provisions hereof. Where a reference in this Agreement is made to a
            Section, Schedule or Exhibit, such reference shall be to a Section of, Schedule to or Exhibit to this Agreement unless otherwise indicated. Whenever the words “include,” “includes” or “including” are used in this Agreement, they shall be deemed
            to be followed by the words “without limitation.” For purposes of this Agreement, whenever the context requires the singular number shall include the plural, and vice versa. All references in this Agreement to “$” are intended to refer to
            United States dollars and all references to “EUR” are to the lawful currency of the European Union. Any reference to a particular Law means such Law as amended, modified or supplemented (including all
            rules and regulations promulgated thereunder) and, unless otherwise provided, as in effect from time to time.

         

        Section 12.12.      Defined Terms.  Capitalized terms used and not otherwise
          defined herein shall have the meanings specified or referred to in Annex I.

         

        Section 12.13.      Assignment.  Neither this Agreement, nor any of the rights,
          interests or obligations under this Agreement, shall be assigned, in whole or in part, by either Party without the prior written consent of the other Party. Any attempted or purported assignment in violation of the preceding sentence shall be
          null and void and of no effect whatsoever. Subject to the preceding two sentences, this Agreement shall be binding upon, inure to the benefit of, and be enforceable by, the Parties and their respective successors and assigns.

         

        Section 12.14.      Specific Performance.

         

        (a)          The Parties agree that irreparable damage
            would occur if any provision of this Agreement were not performed in accordance with the specific terms hereof or were otherwise breached. It is accordingly agreed that prior to the termination of this Agreement in accordance with Section
              12.1, the Parties shall be entitled to an injunction or injunctions to prevent breaches of this Agreement and to enforce specifically the terms and provisions of this Agreement (without necessity of posting bond or other security (any
            requirements therefor being expressly waived)), this being in addition to any other remedy to which they are entitled at Law or in equity.

         

        
          19

          
            

        

        (b)          Each of the Parties agrees that it will
            not oppose the granting of an injunction, specific performance or other equitable relief as provided herein on the basis that (i) the other Party has an adequate remedy at Law or (ii) an award of specific performance is not an appropriate
            remedy for any reason at Law or equity. Any Party seeking an injunction or injunctions to prevent breaches of this Agreement and to enforce specifically the terms and provisions of this Agreement shall not be required to provide any bond or
            other security in connection with any such order or injunction.

         

        Section 12.15.      Payment Terms.

         

        (a)          Except as otherwise expressly provided to
            the contrary in this Agreement, any amount to be paid or reimbursed by a Party (where applicable, or a member of such Party’s Group) to the other Party (where applicable, or a member of such other Party’s Group) under this Agreement shall be
            paid or reimbursed hereunder within sixty (60) days after presentation of an invoice or a written demand therefor, in either case setting forth, or accompanied by, reasonable documentation or other reasonable explanation supporting such amount.

         

        (b)          Except as expressly provided to the
            contrary in this Agreement, any amount not paid when due pursuant to this Agreement (and any amount billed or otherwise invoiced or demanded and properly payable that is not paid within sixty (60) days of such bill, invoice or other demand)
            shall bear interest at a rate per annum equal to the Prime Rate, from time to time in effect, plus two percent (2%), calculated for the actual number of days elapsed, accrued from the date on which such payment was due up to the date of the
            actual receipt of payment.

         

        (c)          Without the consent of the Party receiving
            any payment under this Agreement specifying otherwise, all payments to be made by either TFMC or TEN under this Agreement shall be made in U.S. dollars or in Euros, as requested by the recipient Party.  Except as expressly provided herein, any
            payment required to be made pursuant to Section 3.1 and Section 3.2 which is not expressed in either U.S. dollars or Euros shall be converted into U.S. dollars or Euros, as the case may be, by using the applicable exchange rate
            used by the recipient Party for financial reporting or accounting purposes for the month in which the applicable Tax Return is filed or in which any applicable Final Determination is made.  In the event that any payment required to be made
            hereunder other than pursuant to the preceding sentence is denominated in a currency other than U.S. dollars or Euros, the amount of such payment shall be converted into U.S. dollars or Euros, as requested by the indemnified Party, using the
            applicable exchange rate used by the recipient Party for financial reporting or accounting purposes for the month in which notice of the claim is given to the indemnifying Party.

         

        Section 12.16.      Survival of Covenants.  Except as expressly set forth in this
          Agreement, the covenants, representations and warranties contained in this Agreement, and liability for the breach of any obligations contained herein, shall survive the Transactions and shall remain in full force and effect in accordance with
          their terms.

         

        
          20

          
            

        

        

        

        Section 12.17.      Construction.  This Agreement shall be construed as if jointly
          drafted by the Parties and no rule of construction or strict interpretation shall be applied against either Party. The Parties represent that this Agreement is entered into with full consideration of any and all rights which the Parties may have.
          The Parties have conducted such investigations they thought appropriate, and have consulted with such advisors as they deemed appropriate regarding this Agreement and their rights and asserted rights in connection therewith. The Parties are not
          relying upon any representations or statements made by the other Party, or such other Party’s employees, agents, representatives or attorneys, regarding this Agreement, except to the extent such representations are expressly set forth or
          incorporated in this Agreement. The Parties are not relying upon a legal duty, if one exists, on the part of the other Party (or such other Party’s employees, agents, representatives or attorneys) to disclose any information in connection with
          the execution of this Agreement or their preparation, it being expressly understood that neither Party shall ever assert any failure to disclose information on the part of the other Party as a ground for challenging this Agreement.

         

        Section 12.18.      Performance.  Each Party shall cause to be performed, and
          hereby guarantees the performance of, all actions, agreements and obligations set forth herein to be performed by any Subsidiary or Affiliate of such Party.

         

        Section 12.19.      No Admission of Liability.  The allocation of assets and
          liabilities herein is solely for the purpose of allocating such assets and liabilities between TFMC and TEN and is not intended as an admission of liability or responsibility for any alleged liabilities vis-à-vis any Third Party, including with
          respect to the liabilities of any non-wholly owned subsidiary of TFMC or TEN.

         

        Section 12.20.      Limitations of Liability.  NOTWITHSTANDING ANYTHING IN THIS
          AGREEMENT TO THE CONTRARY, NEITHER TFMC NOR ITS AFFILIATES, ON THE ONE HAND, NOR TEN NOR ITS AFFILIATES, ON THE OTHER HAND, SHALL BE LIABLE UNDER THIS AGREEMENT TO THE OTHER FOR ANY INCIDENTAL CONSEQUENTIAL, SPECIAL, INDIRECT, PUNITIVE,
          EXEMPLARY, REMOTE, SPECULATIVE OR SIMILAR DAMAGES IN EXCESS OF COMPENSATORY DAMAGES OF THE OTHER ARISING IN CONNECTION WITH THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (OTHER THAN ANY SUCH LIABILITY WITH RESPECT TO INDEMNIFICATION OF SUCH
          DAMAGES PAID BY AN INDEMNITEE IN RESPECT OF A THIRD-PARTY CLAIM).

         

        Section 12.21.       Other Agreements.  Except as expressly set forth herein, this
          Agreement is not intended to address, and should not be interpreted to address, the matters specifically and expressly covered by the Separation Agreement or the other Ancillary Agreements.

         

        [Signature Page Follows.]

         

        

        
          21

          
            

        

        IN WITNESS WHEREOF, the parties have caused this Agreement to be executed by their duly authorized representatives.

         

        	 	
                TechnipFMC PLC

              
	 	 
	 	
                By:

              	
                /s/ Alf Melin

              
	 	
                Name:

              	
                Alf Melin

              
	 	
                Title:

              	
                Executive Vice President and Chief

              
	 	 	
                Financial Officer

              

         

          [Signature Page to Tax Matters Agreement]

           

          

          
            
              

          

        

        IN WITNESS WHEREOF, the parties have caused this Agreement to be executed by their duly authorized representatives.

         

        	 	
                Technip Energies N.V.

              
	 	 
	 	
                By:

              	
                /s/ Bruno Vibert

              
	 	
                Name:

              	
                Bruno Vibert

              
	 	
                Title:

              	
                Chief Financial Officer

              

         

        

        
          [Signature Page to Tax Matters Agreement]

           

          

        

        
          
            

        

        
        ANNEX I:

         

        Defined Terms

         

        “Adjustment Request” means any formal or informal claim or request filed with any Tax Authority, or with any administrative agency or court, for the adjustment,
          refund, or credit of Taxes, including (a) any amended Tax Return claiming adjustment to the Taxes as reported on the Tax Return or, if applicable, as previously adjusted, (b) any claim for equitable recoupment or other offset, and (c) any claim
          for refund or credit of Taxes previously paid.

         

        “Affiliate” has the meaning set forth in the Separation Agreement.

         

        “Ancillary Agreement” has the meaning set forth in the Separation Agreement; provided, however, that for purposes of this
          Agreement, this Agreement shall not constitute an Ancillary Agreement.

         

        “Assets” has the meaning set forth in the Separation Agreement.

         

        “Business Day” has the meaning set forth in the Separation Agreement.

         

        “Capital Stock” means all classes or series of capital stock of a corporation, including (a) common stock, (b) all options, warrants and other rights to acquire such
          capital stock and (c) all instruments properly treated as stock in such corporation for U.S. federal Income Tax purposes.

         

        “Closing of the Books Method” means the apportionment of items between portions of a Tax Period based on a closing of the books and records on the close of the
          Distribution Date (in the event that the Distribution Date is not the last day of the Tax Period, as if the Distribution Date were the last day of the Tax Period), subject to adjustment for items accrued on the Distribution Date that are properly
          allocable to the Tax Period following the Distribution, as jointly determined by TFMC and TEN; provided that any items not susceptible to such apportionment shall be apportioned on the basis of elapsed days during the relevant portion of the Tax
          Period.

         

        “Distribution” means the issuance and distribution of ordinary shares of TEN to holders of TFMC ordinary shares on the Record Date on a pro rata basis.

         

        “Distribution Date” has the meaning set forth in the Separation Agreement.

         

        “Effective Time” has the meaning set forth in the Separation Agreement.

         

        “Employee Matters Agreement” has the meaning set forth in the Separation Agreement.

         

        
          1

          
            

        

        “Final Determination” means the final resolution of liability for any Tax, which resolution may be for a specific issue or adjustment or for any Tax Period, (a) by IRS
          Form 870 or 870-AD (or any successor forms thereto), on the date of acceptance by or on behalf of the taxpayer, or by a comparable form under the laws of a state, local, or foreign taxing jurisdiction, except that an IRS Form 870 or 870-AD or
          comparable form shall not constitute a Final Determination to the extent that it reserves (whether by its terms or by operation of law) the right of the taxpayer to file a claim for refund or the right of the Tax Authority to assert a further
          deficiency in respect of such issue or adjustment or for such Tax Period (as the case may be); (b) by a decision, judgment, decree, or other order by a court of competent jurisdiction, which has become final and unappealable; (c) by a closing
          agreement or accepted offer in compromise under Sections 7121 or 7122 of the Code, or a comparable agreement under the laws of a state, local, or foreign taxing jurisdiction; (d) by any allowance of a refund or credit in respect of an overpayment
          of a Tax, but only after the expiration of all periods during which such refund may be recovered (including by way of offset) by the jurisdiction imposing such Tax; (e) by a final settlement resulting from a treaty-based competent authority
          determination; or (f) by any other final disposition, including by reason of the expiration of the applicable statute of limitations, the execution of a pre-filing agreement with the IRS or other Tax Authority, or by mutual agreement of the
          Parties.

         

        “Governmental Entity” has the meaning set forth in the Separation Agreement.

         

        “Group” means (a) with respect to TFMC, the TFMC Group, and (b) with respect to TEN, the TEN Group, as the context requires.

         

        “Income Tax” means all U.S. federal, state, local and foreign income, franchise or similar Taxes imposed on (or measured by) net income or net profits, and any
          interest, penalties, additions to Tax or additional amounts in respect of the foregoing.

         

        “IRS” means the U.S. Internal Revenue Service or any successor agency.

         

        “Joint Return” means any Tax Return that includes, by election or otherwise, one or more members of the TFMC Group together with one or more members of the TEN Group.

         

        “Law” has the meaning set forth in the Separation Agreement.

         

        “Liabilities” has the meaning set forth in the Separation Agreement.

         

        “Parties” and “Party” have the meaning set forth in the preamble to this Agreement.

         

        “Payment Date” means, with respect to a Tax Return, (a) the due date for any required installment of estimated Taxes, (b) the due date (determined without regard to
          extensions) for filing such Tax Return, or (c) the date such Tax Return is filed, as the case may be.

         

        “Person” means any individual, corporation (including not-for-profit), general or limited partnership, limited liability company, joint venture (including with respect
          to any vessel), estate, trust, association, organization, Governmental Entity or other entity of any kind or nature, without regard to whether any entity is treated as disregarded for U.S. federal Income Tax purposes.

         

        “Post-Distribution Period” means any Tax Period beginning after the Distribution Date and, in the case of any Straddle Period, the portion of such Tax Period beginning
          on the day after the Distribution Date.

         

        “Pre-Distribution Period” means any Tax Period ending on or before the Distribution Date and, in the case of any Straddle Period, the portion of such Straddle Period
          ending on and including the Distribution Date.

         

        “Prime Rate” has the meaning set forth in the Separation Agreement.

         

        
          2

          
            

        

        “Prior Group” means any group that filed or was required to file (or will file or be required to file) a Tax Return, for a Tax Period or portion thereof ending at the
          close of the Distribution Date, on an affiliated, consolidated, combined, unitary, fiscal unity or other group basis (including as permitted by Section 1501 of the Code) that includes at least one member of the TEN Group.

         

        “Privilege” means any common law or statutory privilege or protection that may be asserted under applicable law, including, any privilege or protection arising under
          or relating to the attorney-client relationship, work product privileges, the tax practitioner privilege and any other privilege relating to internal evaluation processes.

         

        “Record Date” has the meaning set forth in the Separation Agreement.

         

        “Responsible Party” means, with respect to any Tax Return, the Party having responsibility for preparing and filing such Tax Return under this Agreement.

         

        “Separation” has the meaning set forth in the Separation Agreement.

         

        “Separation Taxes” means any Taxes actually paid by the TFMC Group or the TEN Group in connection with the transactions comprising the Separation, determined on a
          “with and without” basis comparing any Taxes that would have been paid by the TFMC Group or the TEN Group in the applicable Tax Period had the transactions comprising the Separation not occurred.

         

        “Shared Contract” has the meaning set forth in the Separation Agreement.

         

        “Shared Permit” has the meaning set forth in the Separation Agreement.

         

        “Straddle Period” means any Tax Period that begins before and ends after the Distribution Date.

         

        “Subsidiary” has the meaning set forth in the Separation Agreement.

         

        “Tax” or “Taxes” means any income, gross income, gross receipts, profits, capital stock, franchise, withholding, payroll, social security, workers compensation,
          unemployment, disability, property, ad valorem, value added, stamp, excise, severance, occupation, service, sales, use, license, lease, transfer, import, export, escheat, alternative minimum, universal service fund, estimated or other tax
          (including any fee, assessment, or other charge in the nature of or in lieu of any tax), imposed by any Governmental Entity or political subdivision thereof, and any interest, penalty, additions to tax or additional amounts in respect of the
          foregoing.

         

        “Tax Advisor” means a Tax counsel or accountant, in each case of recognized national standing.

         

        “Tax Attribute” means a net operating loss, net capital loss, unused investment credit, unused foreign Tax credit, excess charitable contribution, general business
          credit, research and development credit, earnings and profits, basis, or any other Tax Item that could reduce a Tax or create a Tax Benefit.

         

        
          3

          
            

        

        “Tax Authority” means, with respect to any Tax, the Governmental Entity or political subdivision thereof that imposes such Tax, and the agency (if any) charged with
          the collection of such Tax for such entity or subdivision.

         

        “Tax Benefit” means any refund, credit, or other item that causes reduction in otherwise required liability for cash Taxes.

         

        “Tax Contest” means an audit, review, examination, contest, litigation, investigation or any other administrative or judicial proceeding with the purpose or effect of
          redetermining Taxes (including any administrative or judicial review of any claim for refund).

         

        “Tax Item” means, with respect to any Income Tax, any item of income, gain, loss, deduction, or credit.

         

        “Tax Law” means the Law of any Governmental Entity or political subdivision thereof relating to any Tax.

         

        “Tax Opinions” means any opinions of Tax Advisors deliverable to TFMC in connection with the Distribution.

         

        “Tax Period” means, with respect to any Tax, the period for which the Tax is reported as provided under the Code or other applicable Tax Law.

         

        “Tax Records” means any (a) Tax Returns, (b) Tax Return workpapers, (c) documentation relating to any Tax Contests, and (d) any other books of account or records
          (whether or not in written, electronic or other tangible or intangible forms and whether or not stored on electronic or any other medium) maintained or required to be maintained under the Code or other applicable Tax Laws or under any record
          retention agreement with any Tax Authority, in each case filed or required to be filed with respect to or otherwise relating to Taxes.

         

        “Tax Return” means any report of Taxes due, any claim for refund of Taxes paid, any information return with respect to Taxes, or any other similar report, statement,
          declaration, or document filed or required to be filed under the Code or other Tax Law with respect to Taxes, including any attachments, exhibits, or other materials submitted with any of the foregoing, and including any amendments or supplements
          to any of the foregoing.

         

        “TEN Business” has the meaning set forth in the Separation Agreement.

         

        “TEN Carryback” means any net operating loss, net capital loss, excess Tax credit, or other similar Tax item of any member of the TEN Group which may or must be
          carried from one Tax Period to another prior Tax Period under the Code or other applicable Tax Law.

         

         “TEN Equity Awards” means options, share appreciation rights, restricted shares, share units or other compensatory rights with respect to TEN Shares.

         

        “TEN Equity Compensation Award” has the meaning set forth in the Employee Matters Agreement.

         

        “TEN Group” has the meaning set forth in the Separation Agreement.

         

        
          4

          
            

        

        “TEN Indemnitees” has the meaning set forth in the Separation Agreement.

         

        “TEN Separate Return” means any Tax Return of or including any member of the TEN Group (including any consolidated, combined or unitary return) that does not include
          any member of the TFMC Group.

         

        “TEN Shares” has the meaning set forth in the Separation Agreement.

         

        “TFMC Business” has the meaning set forth in the Separation Agreement.

         

        “TFMC Equity Compensation Award” has the meaning set forth in the Employee Matters Agreement.

         

        “TFMC Group” has the meaning set forth in the Separation Agreement.

         

        “TFMC Indemnitees” has the meaning set forth in the Separation Agreement.

         

        “TFMC Separate Return” means any Tax Return of or including any member of the TFMC Group (including any consolidated, combined or unitary return) that does not include
          any member of the TEN Group.

         

        “TFMC Shares” has the meaning set forth in the Separation Agreement.

         

        “Third Party” means any Person other than the Parties or any of their respective Subsidiaries.

         

        “TIOPA” means the UK Taxation (International and Other Provisions) Act 2010.

         

        “Transactions” has the meaning set forth in the Separation Agreement.

         

        “Treasury Regulations” means the regulations promulgated from time to time under the Code as in effect for the relevant Tax Period.

         

        “UK Group Relief” means (a) group relief capable of being surrendered or claimed pursuant to Part 5 of the UK Corporation Tax Act 2010, or (b) the notional transfer of
          an asset or reallocation of a gain or loss pursuant to section 171A or section 179A of the UK Taxation of Chargeable Gains Act 1992 and the notional reallocation of a gain pursuant to section 792 of the UK Corporation Tax Act 2009.

         

        “UK Tax Relief” means any loss, relief, allowance, set-off, deduction, credit, or relief from or against or available for UK Tax purposes and/or in respect of UK Tax
          or in the computation of income, profits, or gains for UK Tax purposes of Tax or any right to a repayment of, or saving in respect of, UK Tax, including UK Group Relief.

         

        “Valuations” means the valuations and methodologies prepared for TFMC to facilitate, or otherwise in connection with, the Separation and the carrying values reflected
          on TEN’s opening balance sheet following the Distribution.

         

        
          5

          
            

        

        Other Defined Term References

         

        	
                Defined Term

              	
                Section

              
	
                Agreement

              	
                Preamble

              
	
                Code

              	
                Recitals

              
	
                Controlling Party

              	
                Section 7.2(c)

              
	
                Final Allocation

              	
                Section 2.5(b)

              
	
                Intended Tax Treatment

              	
                Recitals

              
	 Interest Restriction Returns	 Section 2.6(b)(ii)
	
                Loss

              	
                Section 4.2(a)

              
	
                Non-Controlling Party

              	
                Section 7.2(c)

              
	
                Party

              	
                Preamble

              
	
                Past Practices

              	
                Section 2.3(a)

              
	
                Payor

              	
                Section 3.3(a)

              
	
                Proposed Allocation

              	
                Section 2.5(b)

              
	
                Required Party

              	
                Section 3.3(a)

              
	
                Retention Date

              	
                Section 6.1

              
	
                Separation Agreement

              	
                Recitals

              
	
                Substantial Authority

              	
                Section 2.3(a)

              
	
                Tax Matters Disputes

              	
                Section 11.1

              
	
                TEN

              	
                Recitals

              
	
                TFMC

              	
                Preamble

              

        

        

        
          6

          
            

        

        Exhibit A

         

        French Group Exit Agreements

        

        

        

        

        A-1Exhibit 4.3

         

        

        
          
 

        
          

          

        

        EMPLOYEE MATTERS AGREEMENT

         

        between

         

        TECHNIPFMC PLC

         

        and

         

        TECHNIP ENERGIES N.V.

         

        Dated as of February 15, 2021

         

        
          
            

           

        

        
          
            

        

        
        TABLE OF CONTENTS

        

        

        	 	
                Page

              
	 	 
	
                ARTICLE I. GENERAL PRINCIPLES; LITIGATION

              	
                1

              
	 	 
	 	
                1.1

              	
                TFMC Group Employee Liabilities

              	
                1

              
	 	
                1.2

              	
                TEN Group Employee Liabilities

              	
                2

              
	 	
                1.3

              	
                TFMC Benefit Plans/TEN Benefit Plans

              	
                2

              
	 	
                1.4

              	
                Employee-Related Litigation

              	
                2

              
	 	 	 	 
	
                ARTICLE II. EMPLOYEES AND EMPLOYEE TRANSFERS

              	
                3

              
	 	 
	 	
                2.1

              	
                Assignment and Transfer of Employees

              	
                3

              
	 	
                2.2

              	
                Automatic Transfers

              	
                3

              
	 	
                2.3

              	
                Delayed Transfers

              	
                4

              
	 	
                2.4

              	
                Collective Bargaining Agreements

              	
                5

              
	 	
                2.5

              	
                Employment Agreements

              	
                5

              
	 	
                2.6

              	
                Transfer and Termination Liabilities

              	
                5

              
	 	 	 	 
	
                ARTICLE III. SERVICE CREDIT

              	
                6

              
	 	 
	 	
                3.1

              	
                Service Credit for Employee Transfers

              	
                6

              
	 	 	 	 
	
                ARTICLE IV. VACATION, PAID TIME OFF AND BONUSES

              	
                6

              
	 	 
	 	
                4.1

              	
                Vacation and Paid Time Off

              	
                6

              
	 	
                4.2

              	
                Annual Bonuses

              	
                7

              
	 	 	 	 
	
                ARTICLE V. BENEFIT PLANS GENERALLY AND RETIREMENT BENEFITS

              	
                7

              
	 	 
	 	
                5.1

              	
                Benefit Plans Generally

              	
                7

              
	 	
                5.2

              	
                Retirement Plans

              	
                7

              
	 	
                5.3

              	
                No Distributions on Separation

              	
                10

              
	 	 	 	 
	
                ARTICLE VI. CERTAIN WELFARE BENEFIT PLAN MATTERS

              	
                10

              
	 	 
	 	
                6.1

              	
                Spinoff Welfare Plans

              	
                10

              
	 	
                6.2

              	
                Welfare Claims

              	
                11

              
	 	
                6.3

              	
                Continuation of Elections

              	
                12

              
	 	
                6.4

              	
                Deductibles, Cost-Sharing Provisions, and Coverage Maximums

              	
                12

              
	 	
                6.5

              	
                Workers’ Compensation

              	
                13

              
	 	 	 	 
	
                ARTICLE VII. TECHNIPFMC EQUITY COMPENSATION AWARDS

              	
                13

              
	 	 
	 	
                7.1

              	
                Outstanding TFMC Equity Compensation Awards

              	
                13

              
	 	
                7.2

              	
                Conformity with Laws

              	
                17

              
	 	
                7.3

              	
                Tax Withholding and Reporting

              	
                17

              
	 	
                7.4

              	
                Employment Treatment

              	
                17

              
	 	
                7.5

              	
                Registration

              	
                17

              
	 	
                7.6

              	
                Accelerated Vesting

              	
                18

              

        

        

        
          i

          
            

        

        	
                ARTICLE VIII. BENEFIT PLAN TRANSITION SERVICES, BENEFIT PLAN THIRD-PARTY CLAIMS

              	
                18

              
	 	 
	 	
                8.1

              	
                General Principles

              	
                18

              
	 	
                8.2

              	
                Benefit Plan Third-Party Claims

              	
                18

              
	 	 	 	 
	
                ARTICLE IX. INDEMNIFICATION

              	
                18

              
	 	 
	 	
                9.1

              	
                Indemnification

              	
                18

              
	 	 	 	 
	
                ARTICLE X. ADDITIONAL COVENANTS

              	
                18

              
	 	 
	 	
                10.1

              	
                Cooperation

              	
                18

              
	 	
                10.2

              	
                Vendor Contracts

              	
                19

              
	 	
                10.3

              	
                Data Privacy

              	
                19

              
	 	 	 	 
	
                ARTICLE XI. DISPUTE RESOLUTION

              	
                19

              
	 	 
	 	
                11.1

              	
                Dispute Resolution

              	
                19

              
	 	 	 	 
	
                ARTICLE XII. MISCELLANEOUS

              	
                19

              
	 	 
	 	
                12.1

              	
                General

              	
                19

              
	 	
                12.2

              	
                Termination

              	
                19

              
	 	
                12.3

              	
                Defined Terms

              	
                19

              
	 	
                12.4

              	
                Other Agreements

              	
                19

              
	 	 	 	 
	
                ANNEX I DEFINED TERMS

              	
                22

              
	 	 
	
                COUNTRY SCHEDULE - AUSTRALIA

              	
                29

              
	 	 
	
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        EMPLOYEE MATTERS AGREEMENT

         

        This EMPLOYEE MATTERS AGREEMENT (this “Employee Matters Agreement”) is entered into effective as of February 15, 2021, by and between TechnipFMC plc, a public limited company formed under the laws of England
          and Wales (“TFMC”), and Technip Energies N.V., a public limited liability company incorporated under the laws of the Netherlands and a wholly owned subsidiary of TFMC (“TEN”).  TFMC and TEN are each a “Party” and are
          sometimes referred to herein collectively as the “Parties.”

         

        RECITALS

         

        WHEREAS, TFMC, acting together with its Subsidiaries, currently conducts the TFMC Business and the TEN Business;

         

        WHEREAS, TFMC and TEN have entered into that certain Separation and Distribution Agreement, dated as of February 15, 2021 (the “Separation Agreement”) pursuant to which the Separation will be consummated;

         

        WHEREAS, TFMC and TEN have agreed that, except as otherwise specifically provided herein, the general approach and philosophy underlying this Employee Matters Agreement is to (a) allocate Assets, Liabilities and
          responsibilities to the TFMC Group (as opposed to the TEN Group) to the extent they relate to current or former employees and other service providers primarily related to the TFMC Assets or the TFMC Business and (b) allocate Assets, Liabilities
          and responsibilities to the TEN Group (as opposed to the TFMC Group) to the extent they relate to current or former employees and other service providers primarily related to the TEN Assets or the TEN Business; and

         

        WHEREAS, TFMC and TEN desire to set forth their agreement on the rights and obligations of TFMC and TEN and the members of the TFMC Group and the TEN Group, respectively, with respect to the treatment of, and the
          compensation and employee benefits provided to, current and former employees of TFMC and TEN and their Subsidiaries.

         

        NOW, THEREFORE, in consideration of the foregoing and the mutual agreements, provisions and covenants contained in this Employee Matters Agreement, the Parties hereby agree as follows:

         

        ARTICLE I.

        GENERAL PRINCIPLES; LITIGATION

         

        1.1         TFMC Group Employee Liabilities. Except as specifically provided in this Employee Matters Agreement, a Country
          Schedule, or required by applicable local Law, the TFMC Group will be solely responsible for (i) all employment, compensation and employee benefits Liabilities relating to TFMC Employees and Former TFMC Employees, (ii) all Liabilities relating to
          or arising under each TFMC Benefit Plan, and (iii) any other Liabilities expressly assigned or allocated to a TFMC Group member under this Employee Matters Agreement, whether arising before, on or after the Distribution Date, whether based on
          facts occurring before, on or after the Distribution Date and irrespective of which Person such Liabilities are asserted against or which Person such Liabilities attached to as a matter of applicable Law or contract (collectively, “TFMC
            Employee Liabilities”).

         

        
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        1.2         TEN Group Employee Liabilities. Except as specifically provided in this Employee Matters Agreement, a Country
          Schedule, or required by applicable local Law, the TEN Group will be solely responsible for (i) all employment, compensation and employee benefits Liabilities relating to TEN Employees and Former TEN Employees, (ii) all Liabilities relating to or
          arising under each TEN Benefit Plan, and (iii) any other Liabilities expressly assigned or allocated to a TEN Group member under this Employee Matters Agreement, whether arising before, on or after the Distribution Date, whether based on facts
          occurring before, on or after the Distribution Date and irrespective of which Person such Liabilities are asserted against or which Person such Liabilities attached to as a matter of applicable Law or contract  (collectively, “TEN Employee
            Liabilities”).

         

        1.3         TFMC Benefit Plans/TEN Benefit Plans. Unless otherwise specifically provided in this Employee Matters Agreement
          or on a Country Schedule, required by applicable local Law, or provided in the Transition Services Agreement:

         

        (a)          Effective as of the applicable Plan Split Date, the TFMC Group will be exclusively responsible for administering each TFMC
            Benefit Plan (including any Split TFMC Retirement Plan, Split TFMC Welfare Plan, TFMC Spinoff Retirement Plan and TFMC Spinoff Welfare Plan) in accordance with its terms and for all obligations and Liabilities with respect to the TFMC Benefit
            Plans and all benefits owed to participants in the TFMC Benefit Plans, whether arising before, on or after the Distribution Date.

         

        (b)         Effective as of the applicable Plan Split Date the TEN Group will be exclusively responsible for administering each TEN
            Benefit Plan (including any Split TEN Retirement Plan, Split TEN Welfare Plan, TEN Spinoff Retirement Plan and TEN Spinoff Welfare Plan) in accordance with its terms and for all obligations and Liabilities with respect to the TEN Benefit Plans
            and all benefits owed to participants in the TEN Benefit Plans, whether arising before, on or after the Distribution Date.

         

        1.4         Employee-Related Litigation.  Effective as of the Distribution Date, Liabilities with respect to any
          Pre-Distribution Action: (i) will be a TEN Employee Liability if it relates to TEN Employees, Former TEN Employees and/or TEN Benefit Plans, including all matters included as a TEN Action on Schedule I.B to the Separation Agreement; (ii)
          will be a TFMC Employee Liability if it relates to TFMC Employees, Former TFMC Employees and/or TFMC Benefit Plans, including all matters listed as TFMC Actions on Schedule I.H of the Separation Agreement; and (iii) will be a shared
          Liability between TFMC and TEN to the extent it cannot be readily attributed to TFMC Employees, Former TFMC Employees or TFMC Benefit Plans on the one hand, or TEN Employees, Former TEN Employees or TEN Benefit Plans, on the other hand, as
          described in clauses (i) and (ii).

         

        
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        ARTICLE II.

        EMPLOYEES AND EMPLOYEE TRANSFERS

         

        2.1         Assignment and Transfer of Employees.

         

        (a)          Effective as of no later than the Distribution Date, and except as otherwise agreed by the Parties, the applicable members of
            the TFMC Group and the TEN Group shall have taken such actions as are necessary to ensure that (i) each individual who the parties have agreed will be treated as a TEN Employee is employed by a TEN Entity as of such date and (ii) each
            individual who the parties have agreed will be treated as a TFMC Employee is employed by a TFMC Entity as of such date. The Parties agree to execute, and to seek to have the applicable employees execute, such documentation, if any, as may be
            necessary to reflect such assignment or transfer.

         

        (b)         All transfers of employment will be accomplished in accordance with applicable Laws, and each Party will use commercially
            reasonable efforts to (i) transfer employees upon the same terms and conditions as such employee enjoyed immediately prior to such transfer or upon the same terms and conditions as other similarly situated employees of the employing entity into
            which such employee is transferred, and (ii) effectuate such transfers in a manner that does not result in the payment of severance, end of service gratuities or similar amounts, unless otherwise required by Law.

         

        (c)         To the extent that (i) the applicable Law of any jurisdiction, (ii) any applicable Collective Bargaining Agreement or other
            applicable agreement with a works council or economic committee, or (iii) any applicable employment agreement would require either Party to provide terms of employment to any transferred Employee that are more favorable than those otherwise
            provided for in this Employee Matters Agreement in connection with the Distribution, then such Party will or will cause a member of its Group to provide such Employee with such more favorable terms.

         

        (d)         For purposes of this Employee Matters Agreement, with respect to any former employee who provided services to both the TEN
            Business and the TFMC Business as a shared services employee, and whose employment terminated prior to the Distribution Date, then such former employee will be treated as either a Former TEN Employee or a Former TFMC Employee based on the
            following principles: (i) such employee will be allocated to the business for which he or she performed a majority of his or services, as reasonably determined by the Parties working in good faith, or (ii) if it cannot be determined that such
            former employee performed a majority of his or her services for one of the businesses, then such former employee will be treated as a former employee of the entity from which he or she terminated employment.

         

        2.2         Automatic Transfers.

         

        (a)          If any employee is employed by a TFMC Entity immediately prior to the Distribution Date, and who is required by applicable
            Law to transfer, or who has accepted a transfer of employment (on the same or different terms that applied prior to the Distribution), to a TEN Entity in connection with the transactions contemplated by this Employee Matters Agreement, the
            Separation Agreement or the other Ancillary Agreements, but such employee has not actually become an employee of the TEN Group prior to the Distribution Date, then such employee’s employment will transfer automatically on the Distribution Date
            to a TEN Entity in accordance with such applicable Law, or such employee will otherwise be deemed to be a TEN Employee for purposes of this Employee Matters Agreement and the Distribution Date will be such employee’s Employment Transfer Date.

         

        
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        (b)         Any employee who is employed by a TEN Entity immediately prior to the Distribution Date, and who is required by applicable Law
            to transfer, or who has accepted a transfer of employment (on the same or different terms that applied prior to the Distribution), to a TFMC Entity in connection with the transactions contemplated by this Employee Matters Agreement, the
            Separation Agreement or the other Ancillary Agreements, but such employee has not actually become an employee of the TFMC Group prior to the Distribution Date, then such employee’s employment will transfer automatically on the Distribution Date
            to a TFMC Entity in accordance with such applicable Law, or such employee will otherwise be deemed to be a TFMC Employee for purposes of this Employee Matters Agreement and the Distribution Date will be such employee’s Employment Transfer Date.

         

        2.3         Delayed Transfers. Any employee whose employment transfers from the TFMC Group to the TEN Group or from the TEN
          Group to the TFMC Group, as applicable, pursuant to one of the following categories will be a “Delayed Transfer Employee”, provided such employee was continuously employed by a TEN Entity  or the
          TFMC Group (as applicable) from the Distribution Date through the date of the applicable employment transfer:

         

        (a)          any employee who was inadvertently and erroneously treated as being employed by the wrong employer on the Distribution Date
            (including any employee who was inadvertently automatically transferred under Section 2.2 or who rejected such transfer) and who is transferred to the correct employer within six (6) months after the Distribution Date;

         

        (b)          any employee whose transfer of employment required a Governmental Entity’s or other Third Party’s authorization, approval or
            consent (including in connection with a visa or work permit) where such authorization, approval or consent is obtained and such transfer of employment occurs within six (6) months after the Distribution Date;

         

        (c)          unless otherwise required by applicable Law, any employee who was on an approved long-term or short-term disability leave on
            the Distribution Date and who returns to active service within eighteen (18) months after the Distribution Date (or such other period required by applicable Law), with such transfer occurring immediately upon the employee returning to active
            service); or

         

        (d)          any employee who transfers employment before, or at the expiration of, the applicable period of the Transition Services
            Agreement under which such employee provides services, as mutually determined between TFMC and TEN.

         

        (e)          Notwithstanding anything herein to the contrary, no employee will be considered a Delayed Transfer Employee unless the mutual
            agreement with respect to, and the Delayed Transfer Date of, the Delayed Transfer Employee occurs on or before the end of the maximum period during which the transfer is permitted to occur, as detailed above.

         

        
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        2.4         Collective Bargaining Agreements.

         

        (a)          Unless otherwise required by applicable local Law, the Parties agree that if Employees are being transferred into a newly formed entity pursuant to this Article 2, then (a) the Collective
          Bargaining Agreements that are applicable to any such TEN Employees will have effect after the applicable Employment Transfer Date as if originally made between such TEN Entity (or a union, works council, or trade organization of which a TEN
          Group entity is a member) and the other parties to the Collective Bargaining Agreement, subject to the terms of such Collective Bargaining Agreement, and (ii) the Collective Bargaining Agreements that are applicable to any such TFMC Employees
          will have effect after the Employment Transfer Date as if originally made between a TFMC Entity (or a union, works council, or trade organization of which a TFMC Group entity is a member) and the other parties to the Collective Bargaining
          Agreement, subject to the terms of such Collective Bargaining Agreement.

         

        (b)         To the extent required by applicable local Law or any applicable Collective Bargaining Agreement, the parties shall cooperate and consult in good faith to provide notice, engage in consultation, and take
          any similar action which may be required on its part in connection with the Separation.

         

        2.5         Employment Agreements. Unless otherwise required by applicable local Law, effective as of the applicable
          Employment Transfer Date, (a) a TEN Entity will assume and be solely responsible for any Employment Agreement to which a TEN Employee transferred under this Article II is a party (a “TEN Employment Agreement”), as if originally
          made between the TEN Group, and the TFMC Group will have no Liabilities or other obligations with respect thereto and (b) TFMC or a TFMC Entity will assume and be solely responsible for any Employment Agreement to which a TFMC Employee
          transferred under this Article II is a party (a “TFMC Employment Agreement”), as if originally made between the TFMC Group and the TEN Group will have no Liabilities or other obligations with respect thereto.

         

        2.6         Transfer and Termination Liabilities.  Notwithstanding Section 5.1(a) or Section 5.1(b):

         

        (a)         With respect to any severance, end of service, jubilee, payout of accrued vacation or other paid-time off or other benefits
            owed to any TFMC Employee or Former TFMC Employee required as a result of the transfer of his or her employment contemplated by this Article II or other termination of employment occurring before, on or after the Distribution Date (the
            “TFMC Severance Benefits”), the TFMC Group and the applicable TFMC Benefit Plans will be solely responsible for all such TFMC Severance Benefits.

         

        (b)         With respect to any severance, end or service, jubilee, payout of accrued vacation or other paid-time off or other benefits
            owed to any TEN Employee or Former TEN Employee required as a result of the transfer of employment of his or her employment contemplated by this Article II or a termination of employment occurring before, on or after to the Distribution
            Date (the “TEN Severance Benefits”), the TEN Group and the applicable TEN Spinoff Benefit Plans will be solely responsible for all such TEN Severance Benefits.

         

        
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        ARTICLE III.

        SERVICE CREDIT

         

        3.1         Service Credit for Employee Transfers. To the extent not already required by applicable Law, the following
          service crediting rules will apply:

         

        (a)          From and after the Employment Transfer Date, in the case of all TEN Benefit Plans, TEN will, and will cause its Affiliates to,
            provide credit under the TEN Benefit Plans to each TEN Employee (and Former TEN Employee, if applicable) for all service with the TFMC Group prior to the applicable Employment Transfer Date, as applicable, including for purposes of eligibility,
            vesting, and benefit service under the appropriate TEN Benefit Plans in which the TEN Employee (and Former TEN Employee, if applicable) is eligible to participate, subject to the terms of the applicable TEN Benefit Plans, to the extent
            recognized by the TFMC Group under an analogous TFMC Benefit Plan prior to the applicable Employment Transfer Date; provided, however, that service will not be recognized to the extent that such recognition would result in the
            duplication of benefits taking into account both TFMC Benefit Plans and TEN Benefit Plans.

         

        (b)         From and after the Employment Transfer Date, in the case of all TFMC Benefit Plans, TFMC will, and will cause its Affiliates
            to, provide credit under the TFMC Benefit Plans to each TFMC Employee (and Former TFMC Employee, if applicable) for all service with the TEN Group prior to the Employment Transfer Date, including for purposes of eligibility, vesting, and
            benefit service under the appropriate TFMC Benefit Plans in which the TFMC Employee (and Former TFMC Employee, if applicable) is eligible to participate, subject to the terms of the applicable TFMC Benefit Plans, to the extent recognized by the
            TEN Group under an analogous TEN Benefit Plan prior to the applicable Employment Transfer Date; provided, however, that service will not be recognized to the extent that such recognition would result in the duplication of
            benefits taking into account both TFMC Benefit Plans and TEN Benefit Plans.

         

        (c)          Except with respect to Delayed Transfer Employees, with respect to any employee hired after the Distribution Date, unless
            required by Law (i) the Benefit Plans of the TEN Group for employees hired by the TEN Group will not recognize such employee’s service with the TFMC Group (if any) and (ii) the Benefit Plans of the TFMC Group for employees hired by the TFMC
            Group will not recognize such employee’s service with the TEN Group (if any).

         

        ARTICLE IV.

        VACATION, PAID TIME OFF AND BONUSES

         

        4.1         Vacation and Paid Time Off. Except to the extent not permitted by applicable Law or paid out as provided in Section

            2.6, the TFMC Group will assume or retain, as applicable, responsibility for accrued paid vacation and other paid time off attributable to TFMC Employees as of the Employment Transfer Date. Except to the extent not permitted by applicable
          Law or paid out as provided in Section 2.6, the TEN Group will assume or retain, as applicable, responsibility for accrued paid vacation and other paid time off attributable to TEN Employees as of the Employment Transfer Date.

         

        
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        4.2         Annual Bonuses.  For 2021 TFMC will establish performance goals for the period occurring prior to the
          Distribution Date, and for the period following the Distribution Date each of the TFMC Group and the TEN Group will be responsible for establishing the performance goals applicable to their respective employees.  TFMC Group will be responsible
          for paying any annual bonus for its employees for each of the 2021 performance periods and the TEN Group will be responsible for paying any annual bonus for its employees for each of the 2021 performance periods.

         

        ARTICLE V.

        BENEFIT PLANS GENERALLY AND RETIREMENT BENEFITS

         

        5.1         Benefit Plans Generally.

         

        (a)          Except as otherwise specifically provided in this Employee Matters Agreement or on a Country Schedule, on the relevant
            Employment Transfer Date, a TEN Entity will assume all or a portion of the obligations under the TFMC Benefit Plans solely to the extent applicable to the TEN Employees and Former TEN Employees and all associated Assets and Liabilities
            therewith. TEN will cause the TEN Group to assume such portion of the TFMC Plans or to otherwise apply the terms of such TFMC Benefit Plans on and after the relevant Employment Transfer Date to TEN Employees or Former TEN Employees for such
            time as permitted or required under applicable Law.

         

        (b)         Except as otherwise specifically provided in this Employee Matters Agreement or on a Country Schedule, on the relevant
            Employment Transfer Date, a TFMC Entity will assume all or a portion of the obligations under the TEN Benefit Plans solely to the extent applicable to the TFMC Employees and Former TFMC Employees and all associated Assets and Liabilities
            therewith.  TFMC will cause the TFMC Group to assume such portion of the TEN Plans or apply the terms of such TEN Benefit Plans on or after the relevant Employment Transfer Date to TFMC Employees or Former TFMC Employees for such period of time
            as permitted or required under applicable Law.

         

        5.2         Retirement Plans.

         

        (a)          Spinoff Plans Generally.

         

        (i)          Except as provided in Section 5.2(f), effective as of the relevant Plan Split Date, TEN or another
            member of the TEN Group will adopt and establish retirement plans, and, if applicable, any related trust (such plans and trusts, the “TEN Spinoff Retirement Plans”) with terms and features (including employer contribution provisions)
            that are substantially similar to the retirement Benefit Plans maintained by a TFMC Entity for the benefit of TEN Employees and Former TEN Employees (such Benefit Plans, the “Split TFMC Retirement Plans”) such that (for the avoidance of
            doubt) each Split TFMC Retirement Plan is substantially replicated to a corresponding TEN Spinoff Retirement Plan.  A TEN Entity will be solely responsible for taking all necessary, reasonable, and appropriate actions to establish, maintain and
            administer the TEN Spinoff Retirement Plans so that they comply with applicable Laws. Each TEN Spinoff Retirement Plan will assume all Liabilities relating to benefits accrued or earned (whether or not vested) by TEN Employees and Former TEN
            Employees under the corresponding Split TFMC Retirement Plan as of the Plan Split Date or Delayed Transfer Date, if applicable.

         

        
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        (ii)         Except as provided in Section 5.2(f), effective as of the relevant Plan Split Date, TFMC or
            another member of the TFMC Group will adopt and establish retirement plans, and, if applicable, any related trust (such plans and trusts, the “TFMC Spinoff Retirement Plans”) with terms and features (including employer contribution
            provisions) that are substantially similar to the retirement Benefit Plans maintained by a TEN Entity for the benefit of TFMC Employees and Former TFMC Employees (such Benefit Plans, the “Split TEN Retirement Plans”) such that (for the
            avoidance of doubt) each Split TEN Retirement Plan is substantially replicated by a corresponding TFMC Spinoff Retirement Plan. A TFMC Entity will be solely responsible for taking all necessary, reasonable, and appropriate actions to establish,
            maintain and administer the TFMC Spinoff Retirement Plans so that they comply with applicable Laws. Each TFMC Spinoff Retirement Plan will assume all Liabilities for all benefits accrued or earned (whether or not vested) by TFMC Employees and
            Former TFMC Employees under the corresponding Split TEN Retirement Plan as of the Plan Split Date or Delayed Transfer Date, if applicable.

         

        (b)          Asset Transfers and Assumption of Liabilities.

         

        (i)          On or as soon as reasonably practicable following the applicable Plan Split Date or Delayed Transfer Date
            for any TEN Transferees (but not later than thirty (30) days thereafter), TFMC or another member of the TFMC Group will cause each Split TFMC Retirement Plan to transfer to the applicable TEN Spinoff Retirement Plan, and TEN or another member
            of the TEN Group will cause such TEN Spinoff Retirement Plan to accept the transfer of, the accounts, related Liabilities and any related Assets in such Split TFMC Retirement Plan attributable to TEN Employees, Former TEN Employees, TEN
            Transferees and their respective Plan Payees, as set forth on the applicable Country Schedule.

         

        (ii)         On or as soon as reasonably practicable following the applicable Plan Split Date or Delayed Transfer Date
            for any TFMC Transferees (but not later than thirty (30) days thereafter), a TEN Entity will cause each Split TEN Retirement Plan to transfer to the applicable TFMC Spinoff Retirement Plan and TFMC or another member of the TFMC Group will cause
            such TFMC Spinoff Retirement Plan to accept the transfer of the accounts, related Liabilities, and related Assets in the corresponding TFMC Spinoff Retirement Plan attributable to any TFMC Employees, Former TFMC Employees, TFMC Transferees and
            their respective Plan Payees, as set forth on the applicable Country Schedule.

         

        (iii)       The transfer of any Assets under this Section 5.2(b) will be in cash or in-kind (as determined by
            the transferor) and, if relevant include outstanding loan balances.

         

        
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        (c)          Liabilities.

         

        (i)          From and after the Distribution Date, TEN and the TEN Group will be solely and exclusively responsible for
            all obligations and Liabilities with respect to, or related to, benefits under the TEN Spinoff Retirement Plans, whether accrued before, on or after the Distribution Date.

         

        (ii)         From and after the Distribution Date, TFMC and the TFMC Group will be solely and exclusively responsible
            for all obligations and Liabilities with respect to, or related to, benefits under the TFMC Spinoff Retirement Plans, whether accrued before, on or after the Distribution Date.

         

        (d)          Continuation of Elections.

         

        (i)          As of the applicable Plan Split Date, or Delayed Transfer Date for TEN Transferees, the parties will
            cooperate in good faith to cause the TEN Spinoff Retirement Plans to recognize and maintain all elections (to the extent still applicable and reasonable), including investment and payment form elections, beneficiary designations, and the rights
            of alternate payees under qualified domestic relations orders with respect to TEN Employees, Former TEN Employees and their respective Plan Payees under the corresponding Split TFMC Retirement Plan, subject to the terms of the applicable TEN
            Spinoff Retirement Plans.

         

        (ii)         As of the applicable Plan Split Date, or Delayed Transfer Date for TFMC Transferees, the parties will
            cooperate in good faith to cause the TFMC Spinoff Retirement Plans to recognize and maintain all elections (to the extent still applicable and reasonable), including investment and payment form elections, beneficiary designations, and the
            rights of alternate payees under qualified domestic relations orders with respect to TFMC Employees and their respective Plan Payees under the corresponding Split TEN Retirement Plan, subject to the terms of the applicable TFMC Spinoff
            Retirement Plans.

         

        (e)          Contributions Due.

         

        (i)          All amounts payable to the Split TFMC Retirement Plans with respect to employee deferrals, matching
            contributions and employer contributions for TEN Employees and Former TEN Employees relating to a time period ending on or prior to the Plan Split Date (or, for TEN Transferees, the applicable Delayed Transfer Date), determined in accordance
            with the terms and provisions of the Split TFMC Retirement Plans and applicable Law, will be paid by TEN or another member of the TEN Group to the appropriate Split TFMC Retirement Plan.

         

        (ii)         All amounts payable to the Split TEN Retirement Plans with respect to employee deferrals, matching
            contributions and employer contributions for TFMC Employees and Former TFMC Employees relating to a time period ending on or prior to the Plan Split Date (or, for TFMC Transferees, the applicable Delayed Transfer Date), determined in accordance
            with the terms and provisions of the Split TEN Retirement Plans and applicable Law, will be paid by TFMC or another member of the TFMC Group to the appropriate Split TEN Retirement Plan.

         

        
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        (f)          Notwithstanding Section 5.1 or Section 5.2(a) or anything in this Employee Matters Agreement to the contrary,
            or as otherwise required by applicable Law, TFMC will retain all Liabilities with respect to all Employees under the FMC Technologies Pension Plan and the FMC Technologies Inc. Employees’ Retirement Program, and the TEN Group shall not have any
            Liability or obligations with respect thereto.

         

        5.3         No Distributions on Separation. TFMC and TEN acknowledge that neither the Distribution nor any of the other
          transactions contemplated by this Employee Matters Agreement (including the split of certain plans as of the Plan Split Date), the Separation Agreement, or the other Ancillary Agreements will trigger a payment or distribution of compensation
          under any Benefit Plan that is a not a tax-qualified retirement plan for any TFMC Employee, TEN Employee, Former TFMC Employee or Former TEN Employee (or any applicable Plan Payee thereof) and, consequently, that the payment or distribution of
          any compensation to which any TFMC Employee, TEN Employee, Former TFMC Employee or Former TEN Employee (or any applicable Plan Payee thereof) is entitled under any such Benefit Plan will occur upon such individual’s separation from service from
          the TFMC Group or the TEN Group, as applicable, or at such other time as specified in the applicable Benefit Plan.

         

        ARTICLE VI.

        CERTAIN WELFARE BENEFIT PLAN MATTERS

         

        6.1         Spinoff Welfare Plans.

         

        (a)          Effective as of the applicable Plan Split Date (or the applicable Delayed Transfer Date with respect to any TEN Transferee), a
            TEN Entity will provide all welfare benefits required under applicable Law to TEN Employees and, if necessary, establish certain welfare benefit plans (such plans, the “TEN Spinoff Welfare Plans”) having terms and features (including
            benefit coverage options and employer contribution provisions) that are substantially similar to one of the corresponding TFMC Benefit Plans provided to TEN Employees or Former TEN Employees, to the extent applicable (such TFMC Benefit Plans,
            the “Split TFMC Welfare Plans”), such that (for the avoidance of doubt) each Split TFMC Welfare Plan is substantially replicated by a TEN Spinoff Welfare Plan, except as otherwise provided on a Country Schedule. From and after the Plan
            Split Date or Delayed Transfer Date, as applicable, TEN will cause each TEN Spinoff Welfare Plan to cover those TEN Employees, Former TEN Employees and their Plan Payees who immediately prior to the Plan Split Date or Delayed Transfer Date were
            participating in, or entitled to present or future benefits under, the corresponding Split TFMC Welfare Plan.  Effective as of the Plan Split Date or Delayed Transfer Date, TFMC will cause TEN Employees (and Former TEN Employees, if applicable)
            and their Plan Payees to cease to be covered by the TFMC Welfare Plans (including the Split TFMC Welfare Plans), except as otherwise provided in the Transition Services Agreement.

         

        
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        (b)         Effective as of the applicable Plan Split Date (or the applicable Delayed Transfer Date with respect to any TFMC Transferee),
            a TFMC Entity will provide all welfare benefits required under applicable Law to TFMC Employees and, if necessary, establish certain welfare benefit plans (such plans, the “TFMC Spinoff Welfare Plans”) having terms and features
            (including benefit coverage options and employer contribution provisions) that are substantially similar to one of the corresponding TEN Benefit Plans provided to TFMC Employees or Former TFMC Employees (such TEN Benefit Plans, the “Split
              TEN Welfare Plans”), such that (for the avoidance of doubt) each Split TEN Welfare Plan is substantially replicated by a TFMC Spinoff Welfare Plan, except as otherwise provided on a Country Schedule.  From and after the Plan Split Date or
            Delayed Transfer Date, as applicable, TFMC will cause each TFMC Spinoff Welfare Plan to cover those TFMC Employees, TFMC Former Employees and their Plan Payees who immediately prior to the Plan Split Date or Employment Transfer Date were
            participating in, or entitled to present or future benefits under, the corresponding Split TEN Welfare Plan. Effective as of the Plan Split Date or Employment Transfer Date, TEN will cause TFMC Employees (and Former TFMC Employees, if
            applicable) and their Plan Payees to cease to be covered by the TEN Welfare Plans (including the Split TEN Welfare Plans), except as otherwise provided in the Transition Services Agreement.

         

        6.2         Welfare Claims.

         

        (a)         The TFMC Group and the TFMC Spinoff Welfare Plans will be solely responsible for all claims incurred by TFMC Employees, TFMC
            Former Employees and their Plan Payees under the TFMC Spinoff Welfare Plans and Split TEN Welfare Plans (except with respect to TEN Severance Benefits, which are covered by Section 2.6(a) or as otherwise provided in the Transition
            Services Agreement) (“TFMC Welfare Claims”), whether incurred before, on or after the Plan Split Date or Delayed Transfer Date, but only to the extent such claims are not otherwise payable under an insurance policy held by the TEN Group.
            To the extent any TFMC Welfare Claims are payable under an insurance policy held by the TEN Group, TEN will take all commercially reasonable actions necessary to process such claim and obtain payment under the applicable insurance policy.

         

        (b)         The TEN Group and the TEN Spinoff Welfare Plans will be solely responsible for all claims incurred by TEN Employees, TEN
            Former Employees, as applicable and their Plan Payees under the TEN Spinoff Welfare Plans and Split TFMC Welfare Plans (except with respect to TFMC Severance Benefits, which is covered by Section 2.6(b), or as otherwise provided in the
            Transition Services Agreement) (“TEN Welfare Claims”), whether incurred before, on or after the Plan Split Date or Delayed Transfer Date, but only to the extent such claims are not otherwise payable under an insurance policy held by the
            TFMC Group. To the extent any TEN Welfare Claims are payable under an insurance policy held by the TFMC Group, TFMC will take all commercially reasonable actions necessary to process such claim and obtain payment under the applicable insurance
            policy.

         

        (c)          For purposes of this Article VI, a claim will be deemed “incurred” on (i) the date that the event that gives rise to
            the claim occurs for purposes of life insurance, severance, sickness, accident, disability and hospitalization programs, and (ii) the date that treatment or services are provided for purposes of health care programs other than hospitalization.

         

        
          11

          
            

        

        6.3          Continuation of Elections.

         

        (a)         As of the Plan Split Date, or, if later, the applicable Employment Transfer Date, TEN will cause the TEN Spinoff Welfare Plans
            to recognize elections and designations (including all coverage and contribution elections and beneficiary designations, all continuation coverage and conversion elections, and all qualified medical child support orders and other orders issued
            by courts of competent jurisdiction) in effect with respect to TEN Employees (or Former TEN Employees and Plan Payees, if applicable) prior to the Plan Split Date or Employment Transfer Date, as applicable, under the corresponding Split TFMC
            Welfare Plan, to the extent such elections and designations and orders are applicable to such Split TFMC Welfare Plan, and apply and maintain in force comparable elections and designations and orders under the TEN Spinoff Welfare Plans for the
            remainder of the period or periods for which such elections or designations are by their original terms effective, in each case, subject to the terms of the applicable TEN Spinoff Welfare Plans.

         

        (b)         As of the Plan Split Date, or Employment Transfer Date, TFMC will cause the TFMC Spinoff Welfare Plans to recognize elections
            and designations (including all coverage and contribution elections and beneficiary designations, all continuation coverage and conversion elections, and all qualified medical child support orders and other orders issued by courts of competent
            jurisdiction) in effect with respect to TFMC Employees (or Former TFMC Employees and Plan Payees, if applicable) prior to the Plan Split Date, or Employment Transfer Date, under the corresponding Split TEN Welfare Plan, to the extent such
            elections and designations and orders are applicable to such Split TEN Welfare Plan, and apply and maintain in force comparable elections and designations and orders under the TFMC Spinoff Welfare Plans for the remainder of the period or
            periods for which such elections or designations are by their original terms effective, in each case, subject to the terms of the applicable TFMC Spinoff Welfare Plans.

         

        6.4         Deductibles, Cost-Sharing Provisions, and Coverage Maximums.

         

        (a)          As of the Plan Split Date, or, if later, the applicable Employment Transfer Date, TEN will use commercially reasonable efforts
            to cause the TEN Spinoff Welfare Plans to recognize all amounts applied to deductibles, co-payments and out-of-pocket maximums with respect to TEN Employees (and Former TEN Employees and Plan Payees, if applicable) under the corresponding Split
            TFMC Welfare Plan during the plan year in which the Distribution or Delayed Transfer Date occurs, to the same extent recognized under the corresponding Split TFMC Welfare Plan prior to the Plan Split Date or the applicable Employment Transfer
            Date, and the TEN Spinoff Welfare Plans will not impose any limitations on coverage for preexisting conditions other than such limitations as were applicable under the corresponding Split TFMC Welfare Plan prior to the Plan Split Date or the
            applicable Employment Transfer Date. As of the Plan Split Date, or, if later, the applicable Employment Transfer Date, TEN will use commercially reasonable efforts to cause the TEN Spinoff Welfare Plans to recognize all amounts (e.g., days or
            dollars) accrued towards coverage maximums with respect to TEN Employees (and Former TEN Employees, if applicable) under the corresponding Split TFMC Welfare Plan during the plan year in which the Plan Split Date or Employment Transfer Date
            occurs, to the same extent recognized under the corresponding Split TFMC Welfare Plan prior to the Plan Split Date or the applicable Employment Transfer Date.

         

        
          12

          
            

        

        (b)         As of the Plan Split Date, or Employment Transfer Date, TFMC will use commercially reasonable efforts to cause the TFMC
            Spinoff Welfare Plans to recognize all amounts applied to deductibles, co-payments and out-of-pocket maximums with respect to TFMC Employees (and Former TFMC Employees and Plan Payees, if applicable) and their under the corresponding Split TEN
            Welfare Plan during the plan year in which the Distribution or Employment Transfer Date occurs, to the same extent recognized under the corresponding Split TEN Welfare Plan prior to the Plan Split Date or the applicable Employment Transfer
            Date, and the TFMC Spinoff Welfare Plans will not impose any limitations on coverage for preexisting conditions other than such limitations as were applicable under the corresponding Split TEN Welfare Plan prior to the Plan Split Date or the
            applicable Employment Transfer Date. As of the Plan Split Date, or, if later, the applicable Employment Transfer Date, TFMC will use commercially reasonable efforts to cause the TFMC Spinoff Welfare Plans to recognize all amounts (e.g., days or
            dollars) accrued towards coverage maximums with respect to TFMC Employees (and Former TFMC Employees, if applicable) under the corresponding Split TEN Welfare Plan during the plan year in which the Plan Split Date or Employment Transfer Date
            occurs, to the same extent recognized under the corresponding Split TEN Welfare Plan prior to the Plan Split Date or the applicable Employment Transfer Date.

         

        6.5         Workers’ Compensation.  If a workers’ compensation claim relating to an employee transferred under Section 2
          is insured, then the party holding the insurance (the “Insured Party”) that covers such workers’ compensation claim will be responsible for such claim, regardless of when the Workers’ Compensation Events to which such claims relate occurred.  To
          the extent any such Losses are payable under an insurance policy held by the Insured Party, then the Insured Party will use reasonable best efforts to take all actions necessary to obtain payment of such Losses under the applicable insurance
          policy. The Insured Party will have sole authority for administering, making decisions with respect to, and paying covered workers’ compensation claims with respect to Workers’ Compensation Events occurring before the Employment Transfer Date,
          subject to the prior consent of the other Party, which consent shall not be unreasonably withheld.  The consent described in the immediately preceding sentence will be evidenced in writing with respect to any decision relating to (a) the
          settlement of a workers’ compensation claim, (b) the designation of an “allowed condition,” or (c) the administration of ongoing litigation.  The other Party will, and will cause any other Affiliate (and each of their respective successors and
          assigns) to, jointly and severally indemnify, defend and hold harmless the Insured Party and each of the Insured Party’s Affiliates and each of their respective successors and assigns from and against any and all Losses incurred arising out of or
          in connection with a workers’ compensation claim in excess of those covered by the insurance policy and relating to Workers’ Compensation Events occurring prior to the Employment Transfer Date by its respective employees or former employees
          (i.e., if TEN is the Insured Party, TFMC will indemnify TEN and its Affiliates for TFMC Employees and Former TFMC Employees, and if TFMC is the Insured Party, TEN will indemnify TFMC and its Affiliates for TEN Employees and Former TEN
          Employees).  If any workers’ compensation claim is not insured, then such claim will be treated as an employment related litigation claim under Section 1.4.

         

        ARTICLE VII.

        TECHNIPFMC EQUITY COMPENSATION AWARDS

         

        7.1         Outstanding TFMC Equity Compensation Awards.

         

        (a)          Effective immediately prior to the Distribution, subject to the terms of this Article VII (including Section 7.6),

            each TFMC Equity Compensation Award that is held by a TFMC Participant and is outstanding as of immediately prior to the Distribution will be adjusted as follows:

         

        
          13

          
            

        

        (i)         TFMC Time-Based RSUs held by each TFMC Participant will be adjusted, effective as of the Distribution Date
            and immediately prior to the Distribution, pursuant to the adjustment provisions of the TFMC LTIP, to be Adjusted TFMC Time-Based RSUs.  Subject to the adjustment provisions of the TFMC LTIP, the Adjusted TFMC Time-Based RSUs will be subject to
            substantially similar vesting and payment terms that were applicable to the respective TFMC Time-Based RSUs immediately prior to the Distribution Date. The number of such Adjusted TFMC Time-Based RSUs that will be held by each such TFMC
            Participant immediately following such adjustment will be equal to the product (rounded down to the nearest whole unit) of (A) the number of such TFMC Time-Based RSUs held by such TFMC Participant immediately prior to the Distribution and (B)
            the TFMC Adjustment Ratio.

         

        (ii)        TFMC Performance-Based RSU held by each TFMC Participant will be adjusted, effective as of the Distribution
            Date and immediately prior to the Distribution, pursuant to the adjustment provisions of the applicable TFMC LTIP, to be Adjusted TFMC Performance‐Based RSUs. Subject to the adjustment provisions of the TFMC LTIP, the Adjusted TFMC
            Performance-Based RSUs will be subject to substantially similar vesting and payment terms that were applicable to the respective TFMC Performance-Based RSUs immediately prior to the Distribution Date, except that each Adjusted TFMC
            Performance-Based RSU granted in 2019 and 2020 will be modified to remove all performance-based vesting conditions (such that each Adjusted TFMC Performance-Based RSU granted in 2019 and 2020 will vest following the Distribution Date solely
            upon the satisfaction of time-based vesting conditions). The number of such Adjusted TFMC Performance-Based RSUs that will be held by each such TFMC Participant immediately following such adjustment will be equal to the product (rounded down to
            the nearest whole unit) of (A) the target number of such TFMC Performance-Based RSUs held by such TFMC Participant immediately prior to the Distribution and (B) the TFMC Adjustment Ratio.

         

        (iii)       TFMC Options, whether vested or unvested, held by each TFMC Participant will be adjusted, effective as of
            the Distribution Date and immediately prior to the Distribution, pursuant to the adjustment provisions of the TFMC LTIP, to be Adjusted TFMC Options. Subject to the adjustment provisions of the TFMC LTIP, the Adjusted TFMC Options will be
            subject to substantially similar vesting, exercise and payment terms that were applicable to the respective TFMC Options immediately prior to the Distribution Date. The number of such Adjusted TFMC Options that will be held by each such TFMC
            Participant will be equal to the product (rounded down to the nearest whole share) of (A) the number of such TFMC Options held by such TFMC Participant immediately prior to the Distribution and (B) the TFMC Adjustment Ratio.  The exercise price
            per Adjusted TFMC Option will be equal to the quotient (rounded up to the nearest whole cent) of (I) the exercise price of the respective TFMC Option divided by (II) the TFMC Adjustment Ratio.

         

        (b)         Effective immediately prior to the Distribution, subject to the terms of this Article VII (including Section 7.6),

            each TFMC Equity Compensation Award that is held by a TEN Participant and is outstanding as of immediately prior to the Distribution will be adjusted as follows:

         

        
          14

          
            

        

        (i)          After giving effect to Section 7.6, each TFMC Time-Based RSU held by each TEN Participant will be
            cancelled for no consideration on the Distribution Date.  On or as soon as practicable following the Distribution, TEN shall grant to each TEN Participant whose TFMC Time-Based RSUs were cancelled TEN Time-Based RSUs equal to the product
            (rounded down to the nearest whole unit) of (A) the number of such TFMC Time-Based RSUs held by such TEN Participant immediately prior to the Distribution Date and (B) the TEN Adjustment Ratio.  The TEN Time-Based RSUs granted under this Section

              7.1(b)(i) will be subject to substantially similar vesting and payment terms (subject to any changes made by TEN that are consistent with the TEN LTIP and that do not otherwise require participant consent) that were applicable to the
            corresponding TFMC Time-Based RSUs immediately prior to the Distribution Date.

         

        (ii)         After giving effect to Section 7.6, each TFMC Performance-Based RSU held by each TEN Participant
            will be cancelled for no consideration on the Distribution Date. On or as soon as practicable following the Distribution, TEN will grant TEN RSUs (either as TEN Time-Based RSUs or TEN Performance-Based RSUs as described below) to each TEN
            Participant whose TFMC Performance-Based RSUs were cancelled with the number of such TEN RSUs equal to the product (which will be rounded down to the nearest whole unit) of (A) the target number of such TFMC Performance-Based RSUs held by such
            TEN Participant immediately prior to the Distribution and (B) the TEN Adjustment Ratio. Each TEN RSU granted under this Section 7.1(b)(ii) in replacement of TFMC Performance Based RSUs granted in 2019 and 2020 will be granted as a TEN
            Time-Based RSU which will vest solely upon the satisfaction of the service or time-based vesting conditions and will have payment terms (subject to any changes made by TEN that are consistent with the TEN LTIP and that do not otherwise require
            participant consent) that were applicable to the corresponding TFMC Performance-Based RSUs immediately prior to the Distribution Date.  Each TEN RSU granted under this Section 7.1(b)(ii) that is not in replacement of TFMC Performance
            Based RSUs granted in 2019 and 2020 will be granted as a TEN Performance-Based RSU, subject to substantially similar vesting and payment terms (subject to any changes made by TEN that are consistent with the TEN LTIP and that do not otherwise
            require participant consent) that were applicable to the corresponding TFMC Performance-Based RSUs immediately prior to the Distribution Date.

         

        (iii)        Each TFMC Option that is vested as of immediately prior to the Distribution (after giving effect to Section

              7.6) and is held by a TEN Participant will be adjusted, effective as of the Distribution Date and immediately prior to the Distribution, pursuant to the adjustment provisions of the TFMC LTIP, to be Adjusted TFMC Options.  The Adjusted
            TFMC Options will be subject to substantially similar exercise and payment terms that were applicable to the respective TFMC Options immediately prior to the Distribution Date. The number of such Adjusted TFMC Options that will be held by each
            such TEN Participant will be equal to the product (rounded down to the nearest whole share) of (A) the number of vested TFMC Options held by such by a TEN Participant immediately prior to the Distribution and (B) the TFMC Adjustment Ratio.  The
            exercise price per Adjusted TFMC Option will be equal to the quotient (rounded up to the nearest whole cent) of (I) the exercise price of the respective TFMC Option divided by (II) the TFMC Adjustment
            Ratio. From and after the Distribution, each of TFMC and TEN shall cooperate in good faith to facilitate the orderly administration of the Adjusted TFMC Options held by TEN Participants, including, without limitation, the sharing of information
            relating to tax withholding, remittance and reporting and compliance with applicable Law.

         

        
          15

          
            

        

        (iv)        Each TFMC Option held by a TEN Participant that is not vested on the Distribution Date will be cancelled
            for no consideration on the Distribution Date.  On or as soon as practicable following the Distribution, TEN will grant TEN Options to each TEN Participant whose TFMC Options were cancelled with the number of such TEN Options to be equal to the
            product (rounded down to the nearest whole share) of (A) the number of unvested TFMC Options held by such TEN Participant immediately prior to the Distribution and (B) the TEN Adjustment Ratio.  The exercise price per TEN Option will be equal
            to the quotient (rounded up to the nearest whole cent) of (I) the exercise price of the respective TFMC Option divided by (II) the TEN Adjustment Ratio. The TEN Options will be subject to substantially
            similar vesting and payment terms (subject to any changes made by TEN that are consistent with the TEN LTIP and that do not otherwise require participant consent) that were applicable to the respective TFMC Options immediately prior to the
            Distribution Date.

         

        (v)         Each TFMC Time-Based RSU held by each TEN Director will be cancelled for no consideration on the
            Distribution Date.  As soon as practical following the Distribution, TEN shall grant each TEN Director TEN Time-Based RSUs in accordance with TEN’s director remuneration policy in payment of all director equity grants for service to both TEN
            and TFMC in 2021.  Each TFMC Vested Director RSU will be settled either (a) after a period of one (1) to ten (10) years from the grant date or (b) upon the applicable TEN Director’s separation of service from the TFMC board, as previously
            elected by the applicable TEN Director in accordance with the terms of the TFMC Vested Director RSUs.

         

        (c)          Prior to the Distribution Date, TEN will establish equity compensation plans, including the TEN LTIP, so that upon the
            Distribution, TEN will have in effect an equity compensation plan that allows grants of equity compensation awards subject to substantially the same terms as those that apply to the applicable TFMC Equity Compensation Awards (including the TEN
            Time-Based RSUs and TEN Options, as contemplated by Section 7.1(b) above). From and after the Distribution Date, each TEN Equity Compensation Award will be subject to the terms of the applicable TEN equity compensation plan, the award
            agreement and such other applicable writings governing such TEN Equity Compensation Award and any Employment Agreement to which the applicable holder is a party. From and after the Distribution Date, (i) TEN will retain, pay, perform, fulfill
            and discharge all Liabilities arising out of or relating to the TEN Equity Compensation Awards, which will constitute TEN Employee Liabilities for purposes of this Employee Matters Agreement, and (ii) TFMC will retain, pay, perform, fulfill and
            discharge all Liabilities arising out of or relating to the TFMC Equity Compensation Awards, which will constitute TFMC Employee Liabilities for purposes of this Employee Matters Agreement.

         

        
          16

          
            

        

        7.2        Conformity with Laws. Notwithstanding anything to the contrary in this Employee Matters
          Agreement, (i) to the extent any of the provisions in this Article VII (or any equity award described herein) do not conform with applicable Laws (including provisions for the collection of withholding taxes), such provisions shall be
          modified to the extent necessary to conform with such Laws in such manner as is equitable and to preserve the intent hereof, as determined by the parties in good faith, and (ii) the provisions of this Article VII may be modified, as
          mutually agreed by the parties, to the extent necessary to avoid undue cost or administrative burden arising out of the application of this Article VII to awards subject to Laws.

         

        7.3         Tax Withholding and Reporting.

         

        (a)          Except as otherwise required by applicable Law, the appropriate member of the TFMC Group will be responsible for all payroll
            taxes, withholding and reporting with respect to TFMC Equity Compensation Awards held by TFMC Employees, Former TFMC Employees, TEN Employees and Former TEN Employees.  Except as otherwise required by applicable Law, the appropriate member of
            the TEN Group will be responsible for all payroll taxes, withholding and reporting with respect to TEN Equity Compensation Awards held by TEN Employees.

         

        (b)         If TFMC or TEN determines in its reasonable judgment that any action required under this Article VII will not achieve
            the intended tax, accounting and legal results, including, without limitation, the intended results under Code Section 409A or FASB ASC Topic 718 – Stock Compensation, then at the request of TFMC or TEN, as applicable, TFMC and TEN will
            mutually cooperate in taking such actions as are necessary or appropriate to achieve such results, or most nearly achieve such results if the originally-intended results are not fully attainable.

         

        (c)         Tax deductions with respect to TFMC Equity Compensation Awards and TEN Equity Compensation Awards will be allocated in
            accordance with the Tax Matters Agreement.

         

        7.4         Employment Treatment.

         

        (a)          On the Distribution Date each TEN Employee and Former TEN Employee, other than a TEN Transferee will be deemed to have
            terminated employment with the TFMC Group and will cease vesting in any TFMC Equity Compensation Award.  For purposes of this Article VII only, if an individual is a TEN Transferee, such individual’s employment will be considered to
            have terminated his or her employment on his or her Delayed Transfer Date.

         

        (b)         If, after the Distribution Date, TFMC or TEN identifies an administrative error in the individuals identified as holding TFMC
            Equity Compensation Awards and TEN Equity Compensation Awards, the amount of such awards so held, the forfeiture of any such awards, vesting level of such awards, or any other similar error, TFMC and TEN will mutually cooperate in taking such
            actions as are necessary or appropriate to place, as nearly as reasonably practicable, the individual and TFMC and TEN in the position in which they would have been had the error not occurred.

         

        7.5         Registration. TEN will register the TEN Shares relating to the TEN Equity Compensation Awards and make any
          necessary filings with the appropriate Governmental Entities as required under securities Laws.

         

        
          17

          
            

        

        
          7.6         Accelerated Vesting.  Notwithstanding anything herein to the contrary, each TFMC Time-Based RSU and TFMC
            Performance-Based RSU that (i) would otherwise vest within one (1) year following the Distribution Date that is not a Section 409A Award, and (ii) that is held by (A) any TFMC Participant, other than TFMC Participants who are members of the
            Board of Directors of TFMC or a TFMC Executive Leadership Team member, or (B) a TEN Participant or TEN Director, shall accelerate and vest in full prior to or on the Distribution Date, with the number of TFMC Performance-Based RSUs vesting
            measured based on the level of achievement realized against the performance criteria applicable to TFMC Performance-Based RSUs immediately prior to such acceleration.

           

          ARTICLE VIII.

          BENEFIT PLAN TRANSITION SERVICES,

          BENEFIT PLAN THIRD-PARTY CLAIMS

           

          8.1         General Principles. From and after the Distribution Date, any services that a TEN Entity will provide to the
            members of the TFMC Group or that a TFMC Entity will provide to the members of the TEN Group relating to any Benefit Plans will be set forth in the Transition Services Agreements (and, to the extent provided therein, a TEN Entity or a TFMC
            Entity will provide administrative services referred to in this Employee Matters Agreement).

           

          8.2         Benefit Plan Third-Party Claims. Any Third-Party Claim relating to the matters addressed in this Employee
            Matters Agreement shall be governed by the applicable provisions of the Separation Agreement.

           

          ARTICLE IX.

          INDEMNIFICATION

           

          9.1         Indemnification. All TEN Employee Liabilities or any other Liabilities retained or assumed by or allocated to
            TEN or the TEN Group pursuant to this Employee Matters Agreement will be deemed to be Liabilities for which the TFMC Indemnitees shall be indemnified pursuant to Section 3.3 of the Separation Agreement, and all TFMC Employee Liabilities
            or any other Liabilities retained or assumed by or allocated to TFMC or the TFMC Group pursuant to this Employee Matters Agreement will be deemed to be Liabilities for which the TEN Indemnitees shall be indemnified by TFMC pursuant to Section

              3.2 of the Separation Agreement. This indemnification shall be governed by the applicable indemnification terms of the Separation Agreement.

           

          ARTICLE X.

          ADDITIONAL COVENANTS

           

          10.1       Cooperation. Following the date of this Employee Matters Agreement, TFMC and TEN will, and will cause their
            respective Subsidiaries, agents and vendors to, use commercially reasonable efforts to cooperate with respect to any employee compensation, benefits or human resources systems matters that TFMC or TEN, as applicable, reasonably determines
            require the cooperation of both TFMC and TEN in order to accomplish the objectives of this Employee Matters Agreement.  Without limiting the generality of the preceding sentence, (a) TFMC and TEN will cooperate in coordinating each of their
            respective payroll systems in connection with the transfers of TFMC Employees to the TFMC Group and the Distribution, (b) TFMC and TEN will, and will cause its Subsidiaries to, transfer records as reasonably necessary for the proper
            administration of the other’s respective Benefit Plans, to the extent such records are in TFMC’s or TEN’s possession, (c) TFMC and TEN will share, with each other and with their respective agents and vendors (without obtaining releases), all
            employee, participant and beneficiary information necessary for the efficient and accurate administration of the Benefit Plans, and (d) TFMC and TEN will share such information as is necessary to administer equity awards pursuant to Article
              VII, to provide any required information to holders of such equity awards, and to make any governmental filings with respect thereto.

           

          
            18

            
              

          

          10.2       Vendor Contracts. Prior to the Distribution, TFMC and TEN will use reasonable best efforts to (a) negotiate
            with the current Third Party providers to separate and assign the applicable rights and obligations under each group insurance policy, health maintenance organization, administrative services contract, Third Party administrator agreement,
            letter of understanding or arrangement that pertains to one or more TFMC Benefit Plans and one or more TEN Benefit Plans (each, a “Vendor Contract”) to the extent that such rights or obligations pertain to Employees and their respective
            Plan Payees or, in the alternative, to negotiate with the current Third Party providers to provide substantially similar services to the TEN Benefit Plans or TFMC Benefit Plans on substantially similar terms under separate contracts with TEN,
            TFMC, the TEN Benefit Plans or the TFMC Benefit Plans, as applicable and (b) to the extent permitted by the applicable Third Party provider, obtain and maintain pricing discounts or other preferential terms under the Vendor Contracts.

           

          10.3       Data Privacy. The parties agree that any applicable data privacy Laws and any other obligations of the TEN
            Group and the TFMC Group to maintain the confidentiality of any employee information or information held by any benefit plans in accordance with applicable Law will govern the disclosure of employee information among the parties under this
            Employee Matters Agreement.  TEN and TFMC will ensure that they each have in place appropriate technical and organizational security measures to protect the personal data of the TEN Employees, Former TEN Employees, TFMC Employees and Former
            TFMC Employees.

           

          ARTICLE XI.

          DISPUTE RESOLUTION

           

          11.1       Dispute Resolution.  Any and all disputes, controversies and claims arising hereunder, including with respect
            to the validity, interpretation, performance, breach or termination of this Employee Matters Agreement shall be resolved through the procedures provided in Article VI of the Separation Agreement.

           

          ARTICLE XII.

          MISCELLANEOUS

           

          12.1       General.  The provisions of Article VIII of the Separation Agreement are hereby incorporated by reference into
            and deemed part of this Employee Matters Agreement and shall apply, mutatis mutandis, as if fully set forth in this Employee Matters Agreement.

           

          12.2       Termination.  In the event the Separation Agreement is terminated, this Employee Matters Agreement shall
            automatically become null and void and no Party, nor any Party’s directors, officers or employees, shall have any Liability of any kind to any Person by reason of this Employee Matters Agreement.  After the Distribution, this Employee Matters
            Agreement may not be terminated except by an agreement in writing signed by TFMC and TEN.

           

          12.3       Defined Terms.  Capitalized terms used and not otherwise defined herein shall have the meanings specified or
            referred to in Annex I.

           

          12.4       Other Agreements.  Except as expressly set forth herein, this Employee Matters Agreement is not intended to
            address, and should not be interpreted to address, the matters specifically and expressly covered by the Separation Agreement or the other Ancillary Agreements.

          

          

          
            19

            
              

          

          IN WITNESS WHEREOF, the parties have caused this Employee Matters Agreement to be executed by their duly authorized representatives.

          

          

          
            	 	
                    TECHNIPFMC PLC

                  
	 	 
	 	
                    By: 

                  	/s/	Alf Melin	 
	 	Name:	Alf Melin	 
	 	Title:	Executive Vice President and Chief	 
	 	 	Financial Officer	 

          

          

          

          [Signature Page to Employee Matters Agreement]

          

          

          
            
              

          

          IN WITNESS WHEREOF, the parties have caused this Employee Matters Agreement to be executed by their duly authorized representatives.

           

          	 	
                  TECHNIP ENERGIES N.V.

                
	 	 
	 	
                  By: 

                	/s/	 Bruno Vibert	 
	 	Name:	Bruno Vibert	 
	 	Title:	Chief Financial Officer	 

          

          

          [Signature Page to Employee Matters Agreement]

          

          

          
            
              

          

          
          ANNEX I

          DEFINED TERMS

           

          “Action” has the meaning set forth in the Separation Agreement.

           

          “Adjusted TFMC Options” means an option to purchase TFMC Shares granted under the TFMC LTIP resulting from the adjustment of TFMC Options as described in Section 7.1(a)(iii) and Section
              7.1(b)(iii).

           

          “Adjusted TFMC Performance-Based RSU” means a performance-based restricted stock unit award granted under the TFMC LTIP with respect to TFMC Shares resulting from the adjustment of TFMC Performance-Based
            RSUs as described in Section 7.1(a)(ii).

           

          “Adjusted TFMC Time-Based RSU” means a time-based restricted stock unit award granted under the TFMC LTIP with respect to TFMC Shares resulting from the adjustment of TFMC Time‐Based RSUs as described in Section

              7.1(a)(i).

           

          “Affiliate” has the meaning set forth in the Separation Agreement.

           

          “Ancillary Agreements” has the meaning set forth in the Separation Agreement.

           

          “Benefit Plan” means, with respect to an entity, each plan, program, policy, agreement, arrangement or understanding that is maintained primarily for the benefit of employees and is a compensation, deferred
            compensation, incentive bonus or other bonus, pension, profit sharing, savings, retirement, severance pay, end of service gratuity, jubilee, salary continuation, life, death benefit, health, hospitalization, sick leave, vacation or other paid
            time off, disability or accident insurance or other employee benefit plan, program, policy, agreement or arrangement, including any “employee benefit plan” (as defined in Section 3(3) of ERISA, whether or not subject to ERISA), that is
            sponsored, maintained or contributed to by such entity or to which such entity is a party or under which such entity has any Liability or obligation; provided that in no event shall any TFMC Equity Compensation Award or TEN Equity
            Compensation Award, nor any plan under which any such award is granted (including the TFMC LTIP or the TEN LTIP), constitute a “Benefit Plan” under this Employee Matters Agreement. In addition, no Employment Agreement will constitute a
            Benefit Plan for purposes hereof.

           

          “Bonus Plan” means the TFMC Annual Incentive Compensation Plan and each other plan or arrangement (other than an Employment Agreement) under which a TEN Employee or a TFMC Employee may earn an annual cash
            incentive.

           

          “Code” means the U.S. Internal Revenue Code of 1986, as amended.

           

          “Collective Bargaining Agreement” means any collective bargaining or similar agreement with any labor or trade union, works council or trade representative that governs the terms and conditions of employment
            of Employees, including those that arise by virtue of TFMC, TEN or their respective Affiliate’s membership in a union or participation in a particular trade, industry or economic sector.

           

          
            22

            
              

          

          “Country Schedule” means a schedule to this Employee Matters Agreement, applicable to the Employees employed in that country.

           

          “Delayed Transfer Date” means the date on which a Delayed Transfer Employee actually transfers employment to the TEN Group or the TFMC Group, as applicable.

           

          “Delayed Transfer Employee” has the meaning set forth in Section 2.3.

           

          “Distribution” has the meaning set forth in the Recitals.

           

          “Distribution Date” has the meaning set forth in the Separation Agreement.

           

          “Employee” means a TEN Employee, Former TEN Employee, TFMC Employee and Former TFMC Employee, as applicable.

           

          “Employee Matters Agreement” has the meaning set forth in the preamble.

           

          “Employment Agreement” means any individual employment, offer, retention, consulting, change in control, sale bonus, retention bonus, incentive bonus, severance or other individual compensatory agreement
            entered into between any TEN Entity or TFMC Entity, as applicable, and any Employee.

           

          “Employment Transfer Date” means (i) the date the employment of any TEN Employee is transferred from any member of the TFMC Group to the TEN Group, (ii) the date the employment of any TFMC Employee is
            transferred from any member of the TEN Group to the TFMC Group, and (iii) for each Delayed Transfer Employee the Delayed Transfer Date.

           

          “ERISA” means the Employee Retirement Income Security Act of 1974, as amended.

           

          “Exchange Rate” means the exchange rate between U.S. Dollars and Euros published on Bloomberg at 5:00 pm, Eastern time, on the day before the relevant date, or in The Wall
              Street Journal on such date if not so published on Bloomberg.

           

           “Former TEN Employee” means any individual (A) (i) who on or before the close of business on the Distribution Date retired or otherwise separated from service from TFMC and its Affiliates, and (ii) whose
            last day of employment with TFMC and its Affiliates prior to the close of business on the Distribution Date was with the TEN Business (including each of the employees that is a claimant under the TEN Actions included on Schedule I.B to
            the Separation Agreement) or (B) who is determined to be a Former TEN Employee pursuant to Section 2.1(d) hereof.

           

          “Former TFMC Employee” means any individual (A) who (i) on or before the close of business on the Distribution Date retired or otherwise separated from service from TFMC and its Affiliates, and (ii) is not a
            Former TEN Employee or (B) who is determined to be a Former TFMC Employee pursuant to Section 2.1(d) hereof.

           

          “Group” means the TFMC Group or the TEN Group, as the context requires.

           

          
            23

            
              

          

          “Governmental Entity” has the meaning set forth in the Separation Agreement.

           

          “Law” has the meaning set forth in the Separation Agreement.

           

          “Liabilities” has the meaning set forth in the Separation Agreement.

           

          “Listing Date” means the first date on which a share of TEN Shares begins trading separately from TFMC Shares on Euronext Paris.

           

          “Losses” has the meaning set forth in the Separation Agreement.

           

          “Person” has the meaning set forth in the Separation Agreement.

           

          “Plan Payee” means, as to an individual who participates in a Benefit Plan, such individual’s dependents, beneficiaries, alternate payees and alternate recipients, as applicable under such Benefit Plan.

           

          “Plan Split Date” means the date each Benefit Plan is split in accordance with Articles V or VI as applicable, which shall occur on or before the Distribution Date (unless otherwise provided in Articles

              V or VI or mutually agreed between the parties).

           

          “Pre-Distribution Action” means an Action by any Third Party with respect to a Split Plan, TFMC Employee, Former TFMC Employee, TEN Employee, or Former TEN Employee that arises from an act, omission, or
            event that occurred prior to the Distribution.

           

          “Section 409A Award” means a TFMC Equity Compensation Award that is treated as non-qualified deferred compensation subject to Section 409A of the Code.

           

          “Separation Agreement” has the meaning set forth in the Recitals.

           

          “Split Plan” means any Split TEN Retirement Plan, Split TEN Welfare Plan, Split TFMC Retirement Plan or Split TFMC Welfare Plan, as applicable.

           

          “Split TEN Retirement Plans” has the meaning set forth in Section 5.2(a)(ii).

           

          “Split TEN Welfare Plans” has the meaning set forth in Section 6.1(b).

           

          “Split TFMC Retirement Plans” has the meaning set forth in Section 5.2(a)(i).

           

          “Split TFMC Welfare Plans” has the meaning set forth in Section 61(a).

           

          “Subsidiary” has the meaning set forth in the Tax Matters Agreement.

           

          “Tax” has the meaning set forth in the Separation Agreement.

           

          “Tax Matters Agreement” has the meaning set forth in the Separation Agreement.

           

          “TEN” has the meaning set forth in the preamble.

           

          
            24

            
              

          

          “TEN Adjustment Ratio” means the ratio obtained by dividing (a) the closing sale price of TFMC Shares on the New York Stock Exchange on the last date on which the TFMC Shares are traded “regular way” prior
            to the Distribution Date, as reported by Bloomberg L.P. or any successor thereto and converted to Euros based on the Exchange Rate by (b) the closing sale price of TEN Shares on Euronext Paris on the Listing Date, as reported by Bloomberg L.P.
            or any successor thereto.

           

          “TEN Benefit Plan” means any Benefit Plan sponsored, maintained or contributed to by any member of the TEN Group.  For the avoidance of doubt, no member of the TEN Group will be deemed to sponsor, maintain
            or contribute to any Benefit Plan if its relationship to such Benefit Plan is solely to administer such Benefit Plan or provide to the TFMC Group any reimbursement in respect of such Benefit Plan.

           

          “TEN Business” has the meaning set forth in the Separation Agreement.

           

          “TEN Compensation Committee” means the committee of the Board of Directors of TEN with the authority to administer and make grants under the TEN LTIP.

           

          “TEN Director” means each member of the Board of Directors of TEN who was also a member of the Board of Directors of TFMC.

           

          “TEN Employee” means each individual who, as of the close of business on the Distribution Date, is employed by a TEN Entity (including, for the avoidance of doubt, any such individual who is on a leave of
            absence, whether paid or unpaid). TEN Employees also include TEN Transferees, effective as of the applicable Delayed Transfer Date.

           

          “TEN Employee Liabilities” has the meaning set forth in Section 1.2.

           

          “TEN Employment Agreement” has the meaning set forth in Section 2.5.

           

          “TEN Entity” means a member of the TEN Group.

           

          “TEN Equity Compensation Award” means each TEN RSU or TEN Option.

           

          “TEN Group” has the meaning set forth in the Separation Agreement.

           

          “TEN LTIP” means the TEN Incentive Award Plan and any stock-based or other incentive plan adopted by TEN before the Distribution Date.

           

          “TEN Option” means each outstanding option to purchase TEN Shares under the TEN LTIP as described in Section 7.1(b)(iv).

           

          “TEN Participants” means each TEN Employee who, immediately prior to the Distribution Date, holds a TFMC Equity Compensation Awards, or a beneficiary, dependent or alternate payee of such person.

           

          “TEN RSU” means a restricted stock unit award with respect to TEN Shares outstanding under the TEN LTIP as described in Section 7.1(b).

           

          
            25

            
              

          

          “TEN Performance-Based RSU” means a TEN RSU that vests in part based on the satisfaction of one or more performance criteria.

           

          “TEN Severance Benefits” has the meaning set forth in Section 2.6(b).

           

          “TEN Spinoff Retirement Plans” has the meaning set forth in Section 5.1(a).

           

          “TEN Spinoff Welfare Plan” has the meaning set forth in Section 6.1(a).

           

          “TEN Shares” means the ordinary shares, a nominal value of €0.01 per share, of TEN.

           

          “TEN Time-Based RSU” means a TEN RSU that vests solely based on continued employment or the passage of time.

           

          “TEN Transferee” means a Delayed Transfer Employee who transfers from the TFMC Group to the TEN Group.

           

          “TEN Vested Director RSU” means a restricted stock unit that is granted to a TEN Director under Section 7.1(b)(v).

           

          “TEN Welfare Claims” has the meaning set forth in Section 6.2(b).

           

          “TEN Welfare Plan” means each TEN Benefit Plan that is a Welfare Plan.

           

          “TEN Workers’ Compensation Claim” has the meaning set forth in Section 6.5.

           

          “TFMC” has the meaning set forth in the preamble.

           

          “TFMC Adjustment Ratio” means the ratio obtained by dividing (a) the closing sale price of TFMC Shares solely on the New York Stock Exchange on the last date on which the TFMC Shares are traded “regular way”
            prior to the Distribution Date, as reported by Bloomberg L.P. or any successor thereto by (b)  the closing sale price of TFMC Shares solely on the New York Stock Exchange on the Listing Date (as traded on the “regular way” market) as reported
            by Bloomberg L.P. or any successor thereto.

           

          “TFMC Benefit Plans” means any Benefit Plan that is sponsored, maintained or contributed to by any member of the TFMC Group.  For the avoidance of doubt, no member of the TFMC Group will be deemed to
            sponsor, maintain or contribute to any Benefit Plan if its relationship to such Benefit Plan is solely to administer such Benefit Plan or provide to TEN any reimbursement in respect of such Benefit Plan.

           

          “TFMC Compensation Committee” means the Compensation Committee of the Board of Directors of TFMC.

           

          “TFMC Employee” means each individual who, as of the close of business on the Distribution Date, is employed by a TFMC Entity (including, for the avoidance of doubt, any such individual who is on a leave of
            absence, whether paid or unpaid). TFMC Employees also include TFMC Transferees, effective as of the applicable Delayed Transfer Date.

           

          
            26

            
              

          

          “TFMC Employee Liabilities” has the meaning set forth in Section 1.1.

           

          “TFMC Employment Agreement” has the meaning set forth in Section 2.5.

           

          “TFMC Entity” means a member of the TFMC Group.

           

          “TFMC Equity Compensation Award” means each TFMC Option, TFMC Performance‐Based RSU and TFMC Time-Based RSU.

           

          “TFMC Executive Leadership Team” means each of Doug Pferdehirt, Maryann Mannen, Justin Rounce, Agnieszka Kmieciak, Arnaud Pieton, Barry Glickman, Jon Landes and such other individuals as the TFMC board of
            directors may designate.

           

          “TFMC Group” has the meaning set forth in the Separation Agreement.

           

          “TFMC LTIP” means Amended and Restated TFMC plc Incentive Award Plan.

           

          “TFMC Option” means each outstanding option to purchase TFMC Shares granted by TFMC under the TFMC LTIP before the Distribution Date.

           

          “TFMC Participants” means any TFMC Employee, Former TFMC Employee, Former TEN Employee or current or former member of the TFMC Board of Directors or other current or former consultant or service provider of
            TFMC who, immediately prior to the Distribution Date, holds TFMC Equity Compensation Awards, or a beneficiary, dependent or alternate payee of such person.

           

          “TFMC Performance-Based RSU” means a performance-based restricted stock unit award with respect to TFMC Shares granted by TFMC under the TFMC LTIP before the Distribution Date.

           

          “TFMC Severance Benefits” has the meaning set forth in Section 2.6(a).

           

          “TFMC Spinoff Retirement Plan” has the meaning set forth in Section 5.2(a)(ii).

           

          “TFMC Spinoff Welfare Plan” has the meaning set forth in Section 6.1(b).

           

          “TFMC Shares” has the meaning set forth in the Separation Agreement.

           

          “TFMC Time-Based RSU” means a time-based restricted stock unit award with respect to TFMC Shares granted by TFMC under the TFMC LTIP before the Distribution Date, but not including a TFMC Vested Director
            RSU.

           

          “TFMC Transferee” means a Delayed Transfer Employee who transfers from the TEN Group to the TFMC Group.

           

          “TFMC Vested Director RSU” means each restricted stock unit with respect to TFMC Shares granted by TFMC to a TEN Director under the TFMC LTIP that was fully vested immediately prior to the Distribution.

           

          
            27

            
              

          

          “TFMC Welfare Claims” has the meaning set forth in Section 6.2(a).

           

          “TFMC Welfare Plan” means each TFMC Benefit Plan that is a Welfare Plan.

           

          “Third Party” has the meaning set forth in the Separation Agreement.

           

          “Third-Party Claim” has the meaning set forth in the Separation Agreement.

           

          “Transition Services Agreement” has the meaning set forth in the Separation Agreement.

           

          “Vendor Contract” has the meaning set forth in Section 11.1.

           

          “Welfare Plan” means each Benefit Plan that provides life insurance, health care, dental care, vision care, employee assistance programs (EAP), health and dependent care flexible spending accounts,
            accidental death and dismemberment insurance, disability, severance, end of service gratuity, jubilee payment or other group welfare or fringe benefits or is otherwise an “employee welfare benefit plan” as described in Section 3(1) of ERISA,
            whether or not subject to ERISA.

           

          “Workers’ Compensation Event” means the event, injury, illness or condition giving rise to a workers’ compensation claim.

           

          
            28

            
              

          

          COUNTRY SCHEDULE - AUSTRALIA

           

          This Country Schedule-Australia sets forth terms applicable to Employees employed in Australia that differ from the provisions set forth in the Employee Matters Agreement.

           

          ARTICLE VI

          WELFARE PLANS

           

          6.1         Spinoff.  Notwithstanding the provisions of Articles V or VI of the Employee Matters Agreement, the employing member of the TEN Group need not continue to provide company contributions
            for health insurance premiums to the Health Insurance Fund of Australia (HIF) for any TEN Employee transferred from the TFMC Group.  The employing TEN Group member may instead provide such TEN Employees with a discretionary HIF payment for such
            period as the TEN Employee may accept.

           

          
            29

            
              

          

          COUNTRY SCHEDULE - FRANCE

           

          This Country Schedule-France sets forth terms applicable to Employees employed in France that differ from the provisions set forth in the Employee Matters Agreement.

           

          ARTICLE I

           

          1.1         Legal Requirements.  Notwithstanding the provisions of Section 7.3 of the Employee Matters Agreement, the TEN Group member, which is the relevant employer of TEN Employees at the time
            the award plan obligations arise, will be responsible for the payment of all payroll taxes, withholding and reporting with respect to TEN Equity Compensation Awards.

           

          ARTICLE V

           

          5.1         “Epargne salariale”.  Notwithstanding the provisions of Article V of the Employee Matters Agreement, all and any obligations of
            administration, declaration, pay-out, withholding, set-up of benefit plans and similar in relation to the benefits mentioned in Troisième Partie, Livre III of
            the French Labor Code (Articles L. 3311-1 et seq., including relevant regulatory provisions and circulars) shall be performed by the company that is obligated to do so by Law.

           

          ARTICLE VII

           

          7.3         TechnipFMC Equity Compensation Awards.

           

          (a)          Notwithstanding the provisions of Section 7.3 of the Employee Matters Agreement, the TechnipFMC Group member or the
              TEN Group member, which is the relevant employer, or former employer as the case may be, of an Employee at the time the award plan obligations arise, will be responsible for the payment of all payroll taxes, withholding and reporting with
              respect to TechnipFMC Equity Compensation Awards.

           

          
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          COUNTRY SCHEDULE - UNITED STATES

           

          This Country Schedule-United States sets forth terms applicable to Employees employed in the U.S. that differ from the provisions set forth in the Employee Matters Agreement.

           

          ARTICLE V

          U.S. TAX-QUALIFIED AND NON-QUALIFIED DEFINED CONTRIBUTION PLANS

           

          5.1         US Benefit Plans and US Plan Split Date.  Following the Distribution Date through July 1, 2021 (the “US Plan Split Date”) TEN Employees shall continue to participate in the TFMC Savings
            and Investment Plan (“TFMC 401(k) Plan”) and all TFMC Welfare Plans that provide life insurance, health care, dental care, vision care, employee assistance programs (EAP), health and dependent care flexible spending accounts, accidental
            death and dismemberment insurance, and disability,  pursuant to and subject to the terms of the Transition Services Agreement.

           

          5.2         TEN Spinoff 401(k) Plans.

           

          (a)          Effective July 1, 2021 (the “DC Plan Split Date”), TEN or another member of the TEN Group will adopt a defined contribution plan that is intended to qualify under Code Section 401(a), and a
            related trust exempt under Code Section 501(a) (such plan and trust, the “TEN 401(k) Plan”). The TEN 401(k) Plan will have terms and features (including employer contribution provisions) that are substantially similar to the TFMC 401(k)
            Plan such that (for the avoidance of doubt) the TFMC 401(k) Plan is substantially replicated by a corresponding TEN 401(k) Plan. A TEN Entity will be solely responsible for taking all necessary, reasonable, and appropriate actions (including
            the submission of the TEN 401(k) Plan to the Internal Revenue Service for a determination of tax-qualified status) to establish, maintain and administer the TEN 401(k) Plan so that it is qualified under Section 401(a) of the Code and that the
            related trusts thereunder are exempt under Section 501(a) of the Code.  Effective as of the DC Plan Split Date, each TEN Employee that was eligible to participate in the TFMC 401(k) Plan will be eligible to participate in the TEN 401(k) Plan. 
            The TEN 401(k) Plan will assume Liability for all benefits accrued or earned (whether or not vested) by TEN Employees and Former TEN Employees, as applicable, under the TFMC 401(k) Plan as of the DC Plan Split Date.

           

          (b)          On or as soon as reasonably practicable following the DC Plan Split Date (but not later than 30 days thereafter), TFMC or another member of the TFMC Group will cause the TFMC 401(k) Plan to transfer to
            the TEN 401(k) Plan, and TEN or another member of the TEN Group will cause such TEN 401(k) Plan to accept the transfer of, the accounts, Liabilities and related assets in the TFMC 401(k) Plan attributable to TEN Employees and Former TEN
            Employees, if applicable, and their respective Plan Payees. The transfer of assets will be in cash or in kind (as determined by TFMC) and include outstanding loan balances in accordance with Code Section 414(l) and Treasury Regulation Section
            1.414(l)-1 and Section 208 of ERISA.

           

          (c)          On or as soon as reasonably practicable following the Delayed Transfer Date  (if later than the DC Plan Split Date) (but not later than 30 days thereafter), a TEN Entity will cause the accounts,
            related Liabilities, and related Assets in the TEN 401(k) Plan attributable to any TFMC Transferees and their respective Plan Payees (including any outstanding loan balances) to be transferred in cash in accordance with Code Section 414(l) and
            Treasury Regulation Section 1.414(l)-1 and Section 208 of ERISA to the applicable TEN Plan. TFMC or another member of the TFMC Group will cause the TFMC 401(k) Plan to accept such transfer of accounts, liabilities and assets.

           

          
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          (d)         From and after the DC Plan Split Date, except as specifically provided in paragraph (c) above, (i) TEN and the TEN Group will be solely and exclusively responsible for all obligations and liabilities
            with respect to, or related to, benefits under the TEN 401(k) Plan, whether accrued before, on or after the DC Plan Split Date and (ii) TFMC and the TFMC Group will be solely and exclusively responsible for all obligations and liabilities with
            respect to, or related to, benefits under the TFMC 401(k) Plan, whether accrued before, on or after the DC Plan Split Date.

           

          (e)          Between the Distribution Date and the DC Plan Split Date, TEN will adopt the TFMC 401(k) Plan and the TFMC 401(k) Plan will become a multiple employer plan.

           

          5.3         Non-Qualified Defined Contribution Plan.

           

          (a)          On or as soon as reasonably practicable following the DC Plan Split Date (but not later than 30 days thereafter), TEN or another member of the TEN Group will cause the Technip USA Executive Retirement
            Plan (the “TEN Executive Retirement Plan”) to transfer to the TechnipFMC Non-Qualified Savings and Investment Plan (the “TFMC Excess Benefit Plan”), and TFMC or another member of the TFMC Group will cause such TFMC Excess Benefit
            Plan to accept the transfer of, the accounts, Liabilities and related assets in the TEN Executive Retirement Plan attributable to TFMC Employees and Former TFMC Employees, if applicable, and their respective Plan Payees. The transfer of any
            assets will be in cash and, once transferred, such accounts, Liabilities and related assets will vest in accordance with the terms of the TFMC Excess Benefit Plan as non-elective contributions thereunder.

           

          (b)          From and after the DC Plan Split Date, except as specifically provided in paragraph (a) above, (i) TEN and the TEN Group will be solely and exclusively responsible for all obligations and liabilities
            with respect to, or related to, benefits under the TEN Executive Retirement Plan, whether accrued before, on or after the DC Plan Split Date and (ii) TFMC and the TFMC Group will be solely and exclusively responsible for all obligations and
            liabilities with respect to, or related to, benefits under the TFMC Excess Benefit Plan, whether accrued before, on or after the DC Plan Split Date.

           

          5.4         Compliance with Section 409A.  TFMC and TEN will cooperate in good faith so that the Distribution will not result in adverse Tax consequences under Code Section 409A to any TFMC Employee, TEN
            Employee, Former TFMC Employee or Former TEN Employee, or their respective Plan Payees, in respect of his or her benefits under any TFMC Benefit Plan or TEN Benefit Plan.

           

          
            32

            
              

          

          ARTICLE VI

          U.S. WELFARE BENEFITS

           

          6.1         Flexible Spending Account Treatment

           

          (a)          Notwithstanding anything in Sections 6.1 and 6.2 of the Employee Matters Agreement to the contrary, with respect to the portion of a TFMC Split Welfare Plan that consists of medical and
            dependent care flexible spending accounts under Sections 125 and 129 of the Code (the “TFMC Flexible Account Plan”), the corresponding TEN Welfare Plan (the “TEN Flexible Account Plan”) will be responsible for reimbursement of all
            previously reimbursable medical expense and dependent care claims incurred by TEN Employees (and Former TEN Employees, if applicable) following the U.S. Plan Split Date for the year in which the Distribution Date or the applicable Delayed
            Transfer Date occurs. The parties will cooperate in good faith to cause the TEN Flexible Account Plan to give effect to the elections of TEN Employees (and Former TEN Employees, if applicable) that were in effect under the corresponding TFMC
            Flexible Account Plan as of the US Plan Split Date or, if later, the Delayed Transfer Date, subject to the terms of the TEN Flexible Account Plan. Notwithstanding the foregoing, if a Delayed Transfer Employee returning from disability leave has
            no election in place under the TFMC Flexible Account Plan, such employee may make a new election under the TEN Flexible Account Plan as of the Delayed Transfer Date, subject to the terms of the TEN Flexible Account Plan.

           

          (b)         The parties shall take all actions reasonably necessary or appropriate so that the account balances (positive or negative) under the TFMC Flexible Account Plan of each TEN Employee (or Former TEN
            Employee, if applicable) who has elected to participate therein in the year in which the Distribution Date or the applicable Delayed Transfer Date occurs shall be transferred, effective as of the US Plan Split date or, if later, the Delayed
            Transfer Date, as applicable, from the TFMC Flexible Account Plan to the corresponding TEN Flexible Account Plan.  As soon as practicable after the end of the TFMC Flexible Account Plan’s plan year TFMC shall pay TEN the net aggregate amount of
            such transferred  account balances, if such amount is positive, and TEN shall pay TFMC the net aggregate amount of such transferred account balances, if such amount is negative.

           

          6.6         COBRA.  Effective as of the US Plan Split Date or, if later, the Delayed Transfer Date, a TEN Entity will assume or will cause the TEN Spinoff Welfare Plans to assume sole responsibility for compliance
            with the continuation coverage requirements under Code Section 4980B and ERISA Sections 601-608 (“COBRA”) after the US Plan Split Date or, if later, the Delayed Transfer Date for all TEN Employees and their “qualified beneficiaries” for whom a
            “qualifying event” occurs on or after the Distribution Date or the Delayed Transfer Date; provided, however, that a TFMC Entity will be responsible for furnishing any election notice required under COBRA to any TEN Transferee. TFMC, the TFMC
            Group, or a Split Welfare Plan will remain solely responsible for compliance with COBRA before, on and after the US Plan Split Date or, if later, the Delayed Transfer Date for TFMC Employees, Former TFMC Employees, Former TEN Employees and
            their “qualified beneficiaries”; provided, however, that a TEN Entity will be responsible for furnishing any election notice required under COBRA to any TFMC Transferee. The terms “qualified beneficiaries” and “qualifying event” will have the
            meanings given to them under Code Section 4980B and ERISA Sections 601-608. For the avoidance of doubt, Section 5.1(a) of the Employee Matters Agreement will govern whether the TEN Spinoff Welfare Plans or Split Welfare Plans are responsible
            for claims incurred by TEN Employees or their qualified beneficiaries while receiving continuation coverage under COBRA. The parties agree that neither the Separation, the Distribution nor any assignment or transfer of the employment or
            services of any Employee as contemplated under this Employee Matters Agreement shall constitute a “qualifying event” for any purpose of COBRA.

           

           

          

          33

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