Document:

EX-10.10

 Exhibit 10.10 

EXECUTION COPY 

EMPLOYMENT AGREEMENT 

This is an employment agreement (“Agreement”) between MP Mine Operations LLC (the “Company”) and Michael Rosenthal
(“Employee”) is dated as of July 1, 2020. The parties agree and represent as follows: 
  

	I.	 AT-WILL EMPLOYMENT 

Company hereby employs Employee and Employee hereby accepts employment on an at-will basis with Company
as Chief Executive Officer effective as of July 1, 2020. The parties acknowledge and agree that consistent with their at-will employment relationship, either Employee or Company may terminate the
employment relationship with or without cause or good reason and with or without advance notice. 
  

	II.	 DUTIES OF EMPLOYEE 

 

	 	A.	 Position and Duties 

Prior to the Transition Date (as defined below), Employee shall serve as a Chief Executive Officer and perform all duties and execute all
responsibilities as are normally provided by a Chief Executive Officer of a company in a business similar to the Company’s and such other services as may reasonably be assigned from time-to-time by the Board of Managers or its designee. On the Transition Date, Employee’s title and role shall automatically transition, without any further action of the parties hereto, to Chief
Operating Officer, reporting directly to the Chief Executive Officer. Prior to the Transition Date, the Board of Managers shall work together in good faith with Employee to develop the job description for the Chief Operating Officer position with
clear delineation in roles and responsibilities, with the Chief Operating Officer at a minimum being responsible for oversight of the day-to-day operations of the Mt.
Pass Mine and the plant and future expansion plans, including, without limitation, engineering processes, implementation and commissioning related to Phase 2. For purposes hereof, the “Transition Date” shall occur upon the earliest of
(i) the date of an initial public offering of the Company (or such other entity created to effectuate such offering), or (ii) the consummation of a transaction with a SPAC, following which, the equity of the Company is sold, exchanged, or
converted into publicly traded securities (as applicable, the “Going Public Transaction”, and the publicly traded entity resulting from (i) or (ii), as applicable, “PubCo”), in which case PubCo shall be assigned this
Agreement and bound by the terms of this Agreement and shall execute a assignment of this Agreement acknowledging the assumption of all of the obligations hereunder and thereafter “Company” shall be deemed to be PubCo and “Board of
Managers” shall be deemed to mean the Board of Directors of PubCo. In addition, during Employee’s employment hereunder, Employee shall have observer rights to sit in on all meetings of the Board. 

 

	 	B.	 Devotion of Work Time to The Company’s Business/Agreement Not To Compete While Employed by the
Company 

 Employee shall devote his full business time, energies, abilities and attention to the business of the
Company and the performance of Employee’s duties under this agreement, and shall not, except as provided below, engage in any other business or occupation during Employee’s employment with the Company, including, without limitation, any
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the interests of the Company or any subsidiaries of the Company, (y) interferes with the proper and efficient performance of Employee’s duties for the Company, or (z) interferes
with Employee’s exercise of judgment in the Company’s best interests. Notwithstanding the foregoing, nothing herein shall preclude Employee from (i) serving, with the prior written consent of the Board of Managers, which consent shall
not be unreasonably withheld, as a member of the board of directors or advisory board (or the equivalent in the case of a non-corporate entity) of a non-competing for-profit business and one or more charitable organizations, (ii) engaging in charitable activities and community affairs, (iii) managing Employee’s personal investments and affairs, and
(iv) being a partner/member/employee/consultant of QVT Financial LP or its affiliates (“QVT”), an investment advisory firm, including, without limitation, providing investment analysis and advice to QVT and its affiliates; provided,
however, that the activities set out in clauses (i), (ii), (iii) and (iv) shall be limited by Employee so as not to materially interfere, individually or in the aggregate, with the performance of Employee’s duties and responsibilities
hereunder, and with respect to (iv), in no event will Employee be permitted to engage in any activity that would compete with the Company. 
  

	 	C.	 Confidential and Trade Secret Information 

Employee agrees that the Company is engaged in the highly competitive business of mineral processing or related competitive operations provided
by the Company at the time Employee executes this Agreement or at any time throughout Employee’s employment with the Company (the “Company’s Business”). The Company’s involvement in this business has required and continues
to require the expenditure of substantial amounts of time, money and the use of skills developed over a long period of time. As a result of these investments of money, skill and time, the Company has developed and will continue to develop certain
valuable Trade Secrets and Confidential Information that are peculiar to the business of the Company and the disclosure of which would cause the Company great and irreparable harm. Employee acknowledges that Employee has and/or will come into
contact with and/or have access to certain valuable Trade Secrets and Confidential Information all of which is the sole property of the Company. 
  

	 	1.	 The term “Trade Secrets” means information deemed a trade secret as defined by applicable law
including, but not limited to, a formula, pattern, compilation, program, device, method, technique, or process, that: (i) derives independent economic value, actual or potential, from not being generally known to, and not being readily
ascertainable by proper means by, other persons who can obtain economic value from its disclosure or use, and (ii) is the subject of efforts that are reasonable under the circumstances to maintain its secrecy. 

 

	 	2.	 The term “Confidential Information” means any data, information or documentation which is valuable to
the Company and not generally known to the public and/or the Company competitors, including but not limited to: 

  

	 	a)	 Product information, including but not limited to, technical notebook records, patent applications, machines,
equipment, process and product designs including any drawings and descriptions thereof, sketches, concepts, plans, specifications, modifications, advancements, production and development processes and the costs thereof, and production schedules;

  
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	 	b)	 Financial information, including but not limited to, earnings, assets, debts, prices, pricing manuals, business
plans, business agreements, costs, fee structures, volumes of purchases or sales, projections, budgets, product sales records, or other financial data, whether relating to the Company generally, or to particular products, services, geographic areas,
or time periods; 

  

	 	c)	 Supply and service information, including but not limited to, information concerning supplies, the goods and
services used or purchased by the Company, the names, addresses, and other contact information of suppliers and distributors, supplier and distributor lists, information relating to past, current or anticipated products and services, terms of
supplier and distributor service contracts, or of particular transactions, or related information about potential suppliers and distributors; 

  

	 	d)	 Marketing information, including but not limited to, marketing arrangements, marketing plans, details about
ongoing or proposed marketing strategies and programs or agreements by or on behalf of the Company, marketing forecasts, marketing surveys, results of marketing efforts or information about pending transactions; 

 

	 	e)	 Customer information, including but not limited to, any compilations or lists of past, existing or prospective
customers, including, but not limited to, wholesale and retail customers, customer proposals or agreements between customers and the Company, mailing lists, status of customer accounts or credit, customer buying and other customer-related records,
or related information about actual or prospective customers, with respect to which Employee had contact or about which Employee obtained Confidential Information during Employee’s employment with the Company; and 

 

	 	f)	 Business information, including but not limited to, business plans, information related to production
facilities, information relating to business conducted or anticipated to be conducted, plans for future business and product development and expansion, any existing or new idea, project or enterprise, whether same is commercially operational or in
any stage of initial development prior to becoming commercially operational, internal performance statistics and other competitive or sensitive information concerning the Company, territory listings, long-range plans, operating instructions,
computer programs, tax information, project and service development plans, internal performance statistics, financial reports, strategic plans, licenses, operations manuals and best practices memoranda. 

  
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	 	D.	 Non-Disclosure Of Trade Secrets And Confidential Information

 Employee acknowledges and agrees that any disclosure, divulging, revealing or other use of any of the aforesaid
Confidential Information or Trade Secrets by Employee, other than in connection with the Company’s business will be highly detrimental to the business of the Company and serious loss of business and pecuniary damage may result therefrom.
Accordingly, Employee specifically covenants and agrees to hold all such Confidential Information and Trade Secrets and any documents containing or reflecting the same in the strictest confidence, and Employee will not, both during employment with
the Company or at any time after Employee’s employment with the Company terminates without the Company’s prior written consent, disclose, divulge or reveal to any person whomsoever, or use for any purpose other than the exclusive benefit
of the Company, any Confidential Information and Trade Secrets whatsoever, whether contained in the Employee’s memory or embodied in writing or other physical form. Disclosure includes forwarding Confidential Information and/or Trade Secrets to
a personal e-mail address and/or uploading such information onto any cloud-based storage site or social media platform. Under the federal Defend Trade Secrets Act of 2016, Employee shall not be held criminally
or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that: (a) is made (i) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney; and
(ii) solely for the purpose of reporting or investigating a suspected violation of law; or (b) is made to Employee’s attorney in relation to a lawsuit for retaliation against Employee for reporting a suspected violation of law; or
(c) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal. In addition, nothing contained in this Paragraph or elsewhere in this Agreement, prohibits Employee from: (1) filing a
charge with or participating, testifying, or assisting in any investigation, hearing, or other proceeding before the U.S. Equal Employment Opportunity Commission or the National Labor Relations Board or a similar agency enforcing federal, state, or
local laws; (2) reporting possible violations of federal law or regulations, including any possible securities laws violations, to any governmental agency or entity, including but not limited to the U.S. Department of Justice, the U.S.
Securities and Exchange Commission, the U.S. Congress, or any agency Inspector General; (3) making any other disclosures that are protected under the whistleblower provisions of federal law or regulations; or (4) otherwise fully
participating in any federal whistleblower programs. 
  

	 	E.	 Non-Solicitation of Customers 

Employee acknowledges and agrees that solely by reason of Employee’s employment with the Company, Employee has and/or will come into
contact with some of the Company’s customers and has and/or will have access to Confidential Information and Trade Secrets regarding the Company and its customers as set forth in Paragraph II(C) of this Agreement. Consequently, Employee
covenants and agrees that in the event of Employee’s separation from employment with the Company, whether such separation is voluntary or involuntary, Employee will not for a period of twelve (12) months following such separation, directly
or indirectly, either on Employee’s own account or on behalf of any person, company, corporation, or other entity, service, solicit or initiate contact with intent to service or solicit with any customers of the Company with whom Employee had
contact during the last twelve (12) months of Employee’s employment with the Company or about whom Employee obtained Confidential Information and/or Trade Secrets, for the purpose of an activity directly competitive with the Company’s
then business operations. 

  
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	 	F.	 Non-Solicitation of Employees, Independent Contractors or Other
Agents 

 Employee acknowledges and agrees that, solely as a result of Employee’s employment with the Company,
Employee has and/or will come into contact with and acquire information regarding the skills and abilities of the Company’s employees, independent contractors or other agents that is not available to the general public from directories or other
public sources. Accordingly, both during Employee’s employment with the Company and for a period of twelve (12) months after Employee’s separation from employment with the Company, whether such separation is voluntary or involuntary,
Employee shall not, either on Employee’s own account or on behalf of any person, company, corporation, or other entity, solicit, lure, encourage, assist or endeavor to cause any employees, independent contractors or other agents of the Company
with whom Employee came into contact during the last twelve (12) months of Employee’s employment with the Company or about whom Employee obtained information regarding their skills and abilities during Employee’s employment with the
Company, to leave employment with the Company or alter, sever, discontinue, or in any other way interfere with their relationship with the Company; provided that the foregoing shall not apply to or prohibit: (a) general solicitations of
employment not directly targeted at such persons, (b) solicitations of such persons who have first contacted Employee on their own initiative, or (c) solicitations of any employee who has been terminated by the Company prior to
commencement of employment discussions by Employee. Nothing herein shall prohibit Employee from terminating employees, independent contractors and agents of the Company while acting as Chief Executive Officer if in his sole discretion he decides
that such action will further the interests of the Company. 
  

	 	G.	 Non-Solicitation of Suppliers 

Employee acknowledges and agrees that solely by reason of Employee’s employment with the Company, Employee has and/or will come into
contact with some of the Company’s suppliers and has and/or will have access to Confidential Information and Trade Secrets regarding the Company and its suppliers as set forth in Paragraph II(C) of this Agreement. Consequently, Employee
covenants and agrees that in the event of Employee’s separation from employment with the Company, whether such separation is voluntary or involuntary, Employee will not for a period of twelve (12) months following such separation, directly
or indirectly, either on Employee’s own account or on behalf of any person, company, corporation, or other entity, solicit or initiate contact with intent to solicit with any suppliers of the Company with whom Employee had contact during the
last twelve (12) months of Employee’s employment with the Company or about whom Employee obtained Confidential Information and/or Trade Secrets, for the purpose of an activity directly competitive with the Company’s then business
operations. 
  

	 	H.	 Proprietary Development 

Employee agrees he will fully and promptly disclose, in writing, to the Company all inventions, products, processes, apparatus, designs,
improvements, or business related suggestions and information which he may, solely or jointly with others, conceive, discover, make or develop while employed with the Company which relate to the Company’s business. 

Employee agrees that any inventions, products, processes, apparatus, designs, improvements or business-related suggestions and information
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developed by him, solely or jointly with others, during his employment with the Company that are (i) made with the firm’s equipment, supplies, facilities, trade secrets, or time; or
(ii) that relate, at the time of conception or reduction to practice to the Company’s business, to the Company’s actual or demonstrably anticipated research; or (iii) result from any work performed by Employee for the Company,
shall belong to the Company without further compensation to Employee, and Employee agrees to assign any and all rights in such items to the Company. 

Employee agrees that any inventions, products, processes, apparatus, designs, improvements, or business related suggestions and information,
conceived, discovered, made or developed by Employee, solely or jointly with others, after his termination of employment with the Company that are based on the Company’s trade secrets or confidential information shall belong to the Company and
Employee here assigns any and all rights in such items to the Company. 
 Employee agrees to execute all documents which the Company may
consider necessary to carry out this Agreement, including domestic and foreign patent applications prepared at the expense of the Company and formal assignments to the Company of all rights in such inventions and patent applications and the patents
issued thereon together with all divisions, continuations, and reissues thereof. Employee further agrees to submit to a reasonable and confidential review process under which the Company may determine any issues as may arise under the provisions of
this paragraph. 
 Employee represents that he has no unpatented inventions which are to be withheld from this Agreement except those listed
by employee on the reverse side of this Agreement and whose exclusion have been approved in writing by an authorized representative of the Company. 

Employee understands this Agreement does not apply to an invention that Employee developed entirely on Employee’s own time without using
the Company’s equipment, supplies, facilities, or trade secret information except for those inventions that either: (i) relate at the time of conception or reduction to practice of the invention to the Company’s business, or actual or
demonstrably anticipated research or development of the Company; or (ii) result from any work performed by Employee for the Company. 
  

	 	I.	 Injunctive Relief 

Employee expressly acknowledges and agrees that any breach or threatened breach of Paragraphs II.(C) through II(H) herein, and each of them,
will cause irreparable and continuing damage to the Company for which monetary damages will be an inadequate remedy, and that the damages flowing from such breach are not readily susceptible to being measured in monetary terms. Accordingly, in
addition to all of the Company’s rights and remedies under this Agreement and available under applicable law, including but not limited to, the right of the recovery of monetary damages and all other forms of other relief including, without
limitation, equitable relief, from Employee, the Company shall be entitled to seek issuance by any court of competent jurisdiction of temporary, preliminary and permanent injunctions enjoining any such breach or threatened breach by Employee. 

  
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	 	J.	 Confidential Information Belonging to Others & Related Restrictions

 Employee agrees that Employee shall not disclose to the Company, use for the Company’s benefit, or induce the
Company to use any trade secret or confidential information Employee may possess or any intellectual property belonging to any former employer or other third party. Employee affirms that that Employee is not presently subject to a restrictive
covenant or other contract or agreement of any kind which would prohibit, restrict or limit Employee’s employment with the Company other than restrictions under his agreements with QVT and its affiliates, which do not prohibit, limit, or
restrict his employment with the Company. If Employee learns or becomes aware of or is advised that Employee is subject to an actual or alleged restrictive covenant or other prior agreement which may prohibit or restrict Employee’s employment
by the Company, Employee shall immediately notify the Company in writing to the Board of Managers of the same. 
  

	III.	 TERMINATION OF EMPLOYMENT 

Employee is and remains free to terminate his employment at any time during Employee’s employment with the Company, for any reason, with
or without cause. In the event of such a voluntary termination by Employee (other than for Good Reason (as defined below)), the Company requests Employee to provide written notice of termination at least thirty (30) days prior to the effective
date of his termination. The Company shall, in such event, remain free to accept such notice and continue Employee’s employment up to the effective date of termination, or to pay Employee thirty (30) days’ pay in lieu of accepting
notice and require his immediate termination. In the event Employee terminates his own employment (other than for Good Reason), Employee shall be entitled only to that compensation and those benefits earned by and vested in him as of the effective
date of such termination, calculated on a pro-rated basis. 
 Employee may also terminate his
employment with the Company for Good Reason upon prior written notice to the Company setting forth in reasonable detail the nature of the Good Reason. The following shall constitute “Good Reason”: without Employee’s written consent,
(i) the failure of the Company to make any payment that it is required to make hereunder to Employee when such payment is due; (ii) the assignment to Employee of duties materially inconsistent with Employee’s position and status with
the Company, a change in Employee’s title, or a material reduction in Employee’s responsibilities; (iii) a reassignment of Employee’s primary work location outside of San Bernardino County, CA or (iv) the Company’s
breach of any material provision of this Agreement; provided, however, that such conduct shall not constitute Good Reason unless and until Employee has provided the Company with written notice setting forth in reasonable detail the nature of the
Good Reason and the Company has not cured such conduct within thirty (30) days after receipt of such notice. 
 The Company is and
remains free to terminate Employee’s employment at any time, for any reason, with or without cause. 
 In the event of a termination by
the Company without cause, the Company shall provide Employee with thirty (30) days’ notice of termination and Employee shall continue to receive through Employee’s employment with the Company the compensation and benefits to which he
is entitled under this Agreement. The Company may, in lieu of thirty (30) days’ notice, pay Employee one month’s salary with an immediate termination. 

  
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 Additionally, in the event of a termination by Company without cause or by Employee for Good
Reason, in exchange for Employee signing (and non-revocation of) a general release of claims that is effective within sixty (60) days of termination in a form to be provided by the Company promptly
following the termination, (i) the Company shall provide Employee with six (6) month’s base salary which amount shall be paid in substantially equal installments, in accordance with regular payroll practices, over such 6-month period; provided, that in the event Employee breaches any of paragraphs (C) — (J) of Section II hereof, all such payments shall immediately cease, in each instance only after a written demand to cure
such breach is delivered to Employee setting forth in reasonable detail the circumstances of such breach and Employee fails to cure such breach (if it reasonably can be cured) within the ten (10) day period following his receipt of such written
notice and (ii) any of Employee’s non-vested IEA shall immediately vest and not be subject to forfeiture. 

In the event of a termination for cause, as defined below, no notice of termination shall be required and Employee will not be entitled to any
further compensation or benefits. In the event of a termination for cause, Employee shall be entitled only to that compensation and those benefits earned by and vested in him as of the effective date of such termination, calculated on a pro-rated basis. 
 Termination may be effected for cause, as follows: 

 

	 	•	 	 Employee’s material breach of this Agreement or any other material policy of the Company, in each instance
only after a written demand to cure such breach is delivered to Employee setting forth in reasonable detail the circumstances of such breach and Employee fails to cure such breach (if it reasonably can be cured) within the thirty (30) day
period following his receipt of such written notice; 

  

	 	•	 	 Any material act of dishonesty, or any act of misappropriation, embezzlement, fraud or similar conduct involving
the Company or any of its affiliates; 

  

	 	•	 	 Employee’s continued willful failure or refusal to perform Employee’s material duties or
responsibilities after a written demand to cure such failure or refusal is delivered to Employee setting forth in reasonable detail the circumstances of such failure or refusal and Employee fails to cure such failure or refusal within the ten
(10) day period following his receipt of such written notice; 

  

	 	•	 	 The conviction of or the plea of guilty or nolo contendere or the equivalent by Employee of a felony or other
crime involving moral turpitude, or any other criminal charge that has, or could be reasonably expected to have, an adverse impact on the performance of Employee’s duties to the Company or otherwise result in material injury to the reputation
or business of the Company; or 

  

	 	•	 	 Employee’s engagement in illegal conduct, gross negligence or willful misconduct which is, or could be
reasonably expected to be, materially and demonstrably injurious to the reputation or business of the Company. 

  
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 Upon any termination of Employee’s employment for any reason, except as may otherwise be
requested by the Company in writing and agreed upon in writing by Employee, Employee shall be deemed to have resigned from any and all directorships, committee memberships, and any other positions Employee holds with the Company or any of its
subsidiaries. 
  

	IV.	 COMPENSATION AND BENEFITS OF EMPLOYEE 

 

	 	A.	 Annual Compensation 

1.    During Employee’s employment hereunder, Employee shall be provided an annual salary. From July 1, 2020 to
December 31, 2020, such annual salary shall be at the rate of $250,000 per year (about $25,000 per month), less applicable payroll deductions. Thereafter, Employee’s salary shall be determined by the Board of Managers (or compensation
committee thereof) in consultation with Employee but in no event shall be less than $250,000 per year. Payment of Employee’s salary shall be made in accordance with the Company’s periodic payroll practices. 

2.    In addition to base salary, Employee shall be eligible to receive an annual incentive compensation award, with the
actual value of the annual incentive compensation award with respect to any year being based upon the level of achievement of annual Company and individual performance objectives for such year, as determined by the Board of Managers (or compensation
committee thereof), which may include objectives relating to plant Safety, recovery/efficiency, and economic success. For 2020, the target annual incentive compensation award will be $450,000, with actual payment being between 0% and 150% of target,
depending on level of performance. The annual incentive compensation award shall be paid to Employee at the same time as annual bonuses are generally payable to other senior executives of the Company (provided, that in all events the annual
incentive shall be paid in the year following the year for which the annual incentive applies) subject to Employee’s continuous employment through the end of the relevant year to which the bonus applies. 

 

	 	B.	 Initial Equity Award 

1.    Subject to Employee’s continued employment through the Transition Date, Employee will be granted an Initial
Equity Award (“IEA”) in the form of restricted common stock of the PubCo having a value1 equal to 1.7% of the pre-money Combined Company Equity
Value (as defined below). The IEA shall be granted on or as soon as practicable following the Transition Date, such grant to be subject to the closing of the Going Public Transaction. The IEA shall be made in the form of a grant under the PubCo
equity compensation plan, pursuant to an award agreement with customary terms reasonably acceptable to the Company and Employee, including without limitation, provisions to allow for the sale of restricted stock or other customary mechanism so that
on vesting any tax liabilities which may arise solely from the vesting of the IEA may be paid by Employee (the “PubCo Plan and Award Agreement”), and the shares comprising the IEA shall be registered under the Securities Act of 1933, as
amended. If applicable 

	 	 

 

	1 	 For purposes of this Agreement, the number of shares which will be issued based on the Company’s value
shall be determined using the per share price of the IPO or the value of a PubCo share used to determine the merger consideration per share. 

  
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law or stock exchange rule does not permit the grant of the IEA as contemplated by this Agreement, the Company and Employee shall negotiate in good faith to enter into a cash-based award
agreement providing comparable value to Employee. For purposes of ensuring clarity, “Combined Company Equity Value” is defined as the aggregate value of the equity of the Company, the equity of Secure Natural Resources LLC
(“SNR”) and/or the equity of the Company’s and SNR’s successors, which in the event of a Going Public Transaction shall be the “Equity Value” as determined by the definitive documentation of such transaction and
disregarding any other compensatory equity awards made at or contemporaneously with the Closing. 
 2.    The IEA shall
vest over four years as follows: 40% on the date that is 15 months after the grant date, 20% on the date that is 27 months after the grant date, 20% on the date that is 39 months after the grant date, and 20% on the fourth anniversary of the grant
date; provided that the IEA will fully vest on a Change of Control of PubCo. “Change of Control” is defined as (i) a merger in which PubCo is not the surviving corporation; (ii) a merger, sale or transaction involving PubCo where
the equity holders of PubCo before such merger or sale or exchange do not retain, directly or indirectly, at least a majority of the beneficial interest in the voting stock of the surviving corporation or the parent company thereof; or
(iii) the sale or exchange of all or substantially all of PubCo’s assets; provided, however, that the definition of Change of Control may be superseded by any comparable definition in the PubCo Plan and Award Agreement. In the event, that
Employee is terminated by Company without cause or by Employee for Good Reason or due to his death or disability (as defined below), he shall fully vest in all non-vested IEA (subject to execution of the
release contemplated in Section III. above in the case of a termination without cause or by Employee for Good Reason); provided, however, that the definition of disability may be superseded by any comparable definition in the PubCo Plan and Award
Agreement. For purposes of this section, “disability” shall mean Employee’s inability to perform his duties as set forth in Section II.A above as a result of any medically determinable physical or mental impairment for a period of 90
consecutive days, or for a period of 120 non-consecutive days in any one year period. Company will work in good faith with Employee to determine the most tax efficient structure for the issuance of the IEA.

  

	 	C.	 Paid Vacation 

During the term of this Agreement, Employee is eligible to receive or accrue paid vacation in accordance with the Company’s policies
applicable to employees in positions similar or comparable to Employee’s. Specifically, Employee shall be entitled to four weeks of vacation annually. 
  

	 	D.	 Holidays 

Employee shall be entitled to those paid holidays observed by the Company. Specific holidays are determined by and in the discretion of the
Company yearly, and are published no later than January of each year. 

  
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	 	E.	 Retirement, Welfare and Fringe Benefits 

Employee shall be eligible to participate in all retirement, welfare, and fringe benefits plans and programs generally made available by the
Company to the Company’s executive employees, in accordance with the terms of such plans, when in effect. 
  

	V.	 GENERAL PROVISIONS 

 

	 	A.	 Entire Agreement 

This Agreement supersedes any and all other agreements, either oral or in writing, express or implied, between the parties hereto with respect
to the employment of Employee by the Company, and contains all of the covenants and agreements between the parties with respect to such employment in any manner whatsoever. Each party to this Agreement acknowledges that no representations,
inducements, promises, or agreements, oral or written, express or implied, with regard to Employee’s employment, have been made or intended by any party, or anyone acting on behalf of any party, which are not embodied herein and that no other
agreement, statement, or promise regarding employment, either oral or written, express or implied, not contained in this Agreement shall be valid or binding. 
  

	 	B.	 Partial Invalidity 

If any term or provision of this Agreement or any portion thereof is declared illegal or unenforceable by any court of competent jurisdiction,
such provision or portion thereof shall be deemed amended or modified so as to render it enforceable, and to the extent such provision or portion thereof cannot be rendered enforceable, this Agreement shall be considered divisible as to such
provision which shall become null and void, leaving the remainder of this Agreement in full force and effect. 
  

	 	C.	 Construction 

The headings contained in this Agreement are for convenience only and do not constitute part of and shall not be used to interpret this
Agreement. 
  

	 	D.	 Modification 

No modification of this Agreement shall be valid unless made in a writing signed by both parties hereto, except where specific reference is
made to this Agreement or for the sole purpose of PubCo joining this Agreement as the successor to the Company. 
  

	 	E.	 Assignment 

Except as expressly contemplated in Section II.A. hereof, neither Employee nor the Company may make any assignment of this Agreement or any
interest in it, by operation of law or otherwise, without the prior written consent of the other; provided, however, the Company may assign their rights and obligations under this Agreement without Employee’s consent to any Person with whom the
Company shall hereafter effect a reorganization, consolidate with, or merge into or to whom it transfers all or substantially all of their properties or assets. This Agreement shall inure to the benefit of and be binding upon Employee, the Company
and each of our respective successors, executors, administrators, heirs and permitted assigns. 

  
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	 	F.	 Waiver of Breach 

The failure of either the Company or Employee, whether purposeful or otherwise, to exercise in any instance any right, power, or privilege
under this Agreement or under law shall not constitute a waiver of the same or any other right, power, or privilege in any other instance. Any waiver by the Company or by Employee must be in writing and signed by either Employee, if Employee is
seeking to waive any of Employee’s rights under this Agreement, or by the Board of Managers of the Company, if the Company is seeking to waive any of its rights under this Agreement. 

 

	 	G.	 Law Governing Agreement, Litigation, and Costs 

This Agreement shall be governed by, and construed in accordance with, the laws of the State of New York, without regard to its conflict of
laws provisions. If any legal action or other proceeding is brought by any party for the enforcement of this Agreement, or because of any alleged dispute, breach or default in connection with any provisions of this Agreement, such action shall be
brought exclusively in state or federal court of New York, and the parties agree to the jurisdiction thereof; provided, however, if said court shall decline jurisdiction or decline to afford injunctive relief to the Company on account of the breach
or threatened breach of this Agreement by Employee, the Company shall be entitled to seek such relief from any other court of competent jurisdiction, wherever located. Employee recognizes that, should any dispute or controversy arising from or
relating to this Agreement be submitted for adjudication to any court, arbitration panel or other third party, the preservation of the secrecy of Confidential Information and Trade Secrets may be jeopardized. Consequently, Employee agrees that all
issues of fact shall be tried without a jury. 
  

	 	H.	 Indemnification 

The Company shall indemnify Employee to the maximum extent permitted by law in respect of any claim, investigation, suit or dispute brought
against Employee because Employee serves as an officer of the Company or any of its subsidiaries, and the Company agrees to advance Employee’s reasonable expenses incurred therewith upon Employee executing an undertaking agreeing to repay any
such advances if Employee is ultimately found not to have been entitled to such indemnification. The Company shall not be obligated to indemnify Employee if a court of competent jurisdiction finds Employee’s conduct to have constituted gross
negligence, willful misconduct, fraud, or criminal conduct in performing or failing to perform any duties and responsibilities under this Agreement. 
  

	 	I.	 Counterparts 

This Agreement may be executed in two or more counterparts, each of which shall be an original and all of which together shall constitute one
and the same instrument. 

  
 12 

          

EXECUTION COPY 
  

	 	J.	 409A 

1.    General. The payments and benefits provided hereunder are intended to be exempt from or compliant with the
requirements of Section 409A of the Code. Notwithstanding any provision of this Agreement to the contrary, in the event that the Company reasonably determines that any payments or benefits hereunder are not either exempt from or compliant with
the requirements of Section 409A of the Code, the Company shall have the right to adopt such amendments to this Agreement or adopt such other policies and procedures (including amendments, policies and procedures with retroactive effect), or
take any other actions, that are necessary or appropriate (i) to preserve the intended tax treatment of the payments and benefits provided hereunder, to preserve the economic benefits with respect to such payments and benefits, and/or
(ii) to exempt such payments and benefits from Section 409A of the Code or to comply with the requirements of Section 409A of the Code and thereby avoid the application of penalty taxes thereunder; provided, however, that this does
not, and shall not be construed so as to, create any obligation on the part of the Company to adopt any such amendments, policies or procedures or to take any other such actions or to indemnify the Employee for any failure to do so. 

2.    Exceptions to Apply. The Company shall apply the exceptions provided in Treasury Regulation Section 1.409A-1(b)(4), Treasury Regulation Section 1.409A-1(b)(9) and all other applicable exceptions or provisions of Code Section 409A to the payments and
benefits provided under this Agreement so that, to the maximum extent possible such payments and benefits are not deemed to be “nonqualified deferred compensation” subject to Code Section 409A. All payments and benefits provided under
this Agreement shall be deemed to be separate payments (and any payments made in installments shall be deemed a series of separate payments) for purposes of Code Section 409A. 

3.    Taxable Reimbursements. To the extent that any payments or reimbursements provided to the Employee in the
course of his employment are deemed to constitute “nonqualified deferred compensation” subject to Code Section 409A, such amounts shall be paid or reimbursed reasonably promptly, but not later than December 31 of the year
following the year in which the expense was incurred. The amount of any payments or expense reimbursements that constitute compensation in one year shall not affect the amount of payments or expense reimbursements constituting compensation that are
eligible for payment or reimbursement in any subsequent year, and the Employee’s right to such payments or reimbursement of any such expenses shall not be subject to liquidation or exchange for any other benefit. 

4.    Specified Executive. Notwithstanding anything to the contrary in this Agreement, no compensation or benefits
that are “nonqualified deferred compensation” subject to Code Section 409A shall be paid to Employee during the 6-month period following his separation from service to the extent that the
Company determines that the Employee is a “specified employee” and that paying such amounts at the time or times indicated in this Agreement would be a prohibited distribution under Code Section 409A(a)(2)(B)(i). If the payment of any
such amounts is delayed as a result of the previous sentence, then on the first business day following the end of such 6-month period (or such earlier date upon which such amount can be paid under Code
Section 409A without being subject to such additional taxes, including as a result of the Employee’s death), the Company shall pay to the Employee a lump-sum amount equal to the cumulative amount
that would have otherwise been payable to the Employee during such 6-month period. 
 [Signature page
follows] 

  
 13 

          

EXECUTION COPY 
  

			
	MP Mine Operations LLC
		
	By:	 	 /s/ James H. Litinsky

	Name:	 	James H. Litinsky
	Title: 	 	Co-Chairman
	Date: 	 	July 12, 2020

 EMPLOYEE: 

 

			
	By: 	 	 /s/ Michael Rosenthal

	Name:	 	Michael Rosenthal
	Date: 	 	July 12, 2020

  
 14EX-10.11

 Exhibit 10.11 

EMPLOYMENT AGREEMENT 

This EMPLOYMENT AGREEMENT (this “Agreement”) is made and entered into as of this 13th day of July 2020, by and between
MP Mine Operations LLC (the “Company”) and Ryan Corbett (the “Executive”). 
 W I T
N E S S E T H: 
 WHEREAS, Executive is currently employed by the Company as its Chief
Financial Officer; and 
 WHEREAS, Executive is a party to an employment agreement with the Company, executed by Executive on
December 31, 2019 (the “Prior Agreement”); and 
 WHEREAS, the Company is contemplating either (i) an initial
public offering of the Company (or such other entity created to effectuate such offering), or (ii) the consummation of a transaction with a special purpose acquisition company (SPAC), following which, the equity of the Company is sold,
exchanged, or converted into publicly traded securities (either (i) or (ii), the “Going Public Transaction”, and the publicly traded entity resulting therefrom, “PubCo”); and 

WHEREAS, in anticipation of the Going Public Transaction, the Company desires to continue to employ Executive and to enter into this Agreement
embodying the terms of such continued employment, and Executive desires to enter into this Agreement and to accept such employment, subject to the terms and provisions of this Agreement; and 

WHEREAS, effective upon the closing of the Going Public Transaction (the “Closing”), without further action by the parties
hereto, the Company shall assign and shall cause PubCo to assume this Agreement, at which time, all references to the Company thereafter shall instead refer to PubCo. 

NOW, THEREFORE, in consideration of the promises and mutual covenants contained herein and for other good and valuable consideration, the
receipt and sufficiency of which are mutually acknowledged, the Company and Executive hereby agree as follows: 

Section 1.    Definitions. Capitalized terms not otherwise defined in this Agreement
shall have the meaning set forth on Appendix A, attached hereto. 

Section 2.    Acceptance and Term of Employment. 

The Company agrees to continue to employ Executive, and Executive agrees to continue to serve the Company, on the terms and conditions set
forth herein. Executive’s employment hereunder shall continue until terminated as provided in Section 7 hereof (the “Term of Employment”). 

 Section 3.    Position, Duties, and
Responsibilities; Place of Performance. 
 (a)    Position, Duties, and Responsibilities. During the Term of
Employment, Executive shall be employed and serve as the Chief Financial Officer of the Company, reporting directly to the Company’s Chief Executive Officer, and having such duties, authority and responsibilities commensurate with such position
and as may be reasonably assigned to Executive from time to time by the Company’s Chief Executive Officer or the Board. Executive also agrees to serve as an officer and/or director of any member of the Company Group, in each case without
additional compensation. 
 (b)    Performance. Executive shall devote Executive’s full business time,
attention, skill, and best efforts to the performance of Executive’s duties under this Agreement and shall not engage in any other business or occupation during the Term of Employment, including, without limitation, any activity that
(x) conflicts with the interests of the Company or any other member of the Company Group, (y) interferes with the proper and efficient performance of Executive’s duties for the Company, or (z) interferes with Executive’s
exercise of judgment in the Company’s best interests. Notwithstanding the foregoing, nothing herein shall preclude Executive from (i) serving, with the prior written consent of the Board, as a member of the board of directors or advisory
board (or the equivalent in the case of a non-corporate entity) of a non-competing for-profit business and/or one or more
charitable organizations, (ii) engaging in charitable activities and community affairs, and (iii) managing Executive’s personal investments and affairs; provided, however, that the activities set out in clauses (i),
(ii), and (iii) shall be limited by Executive so as not to materially interfere, individually or in the aggregate, with the performance of Executive’s duties and responsibilities hereunder. 

(c)    Principal Place of Employment. Executive’s principal place of employment shall be at the Company’s
corporate headquarters, although Executive understands and agrees that Executive may be required to travel from time to time for business reasons. 

Section 4.    Compensation. 

During the Term of Employment, Executive shall be entitled to the following compensation: 

(a)    Base Salary. Executive shall be paid an annualized Base Salary (the “Base Salary”), payable
in accordance with the regular payroll practices of the Company, of $300,000, with increases, if any, as may be approved in writing by the Compensation Committee. 

(b)    Annual Bonus. Executive shall be eligible for an annual incentive bonus award determined by the Compensation
Committee in respect of each fiscal year during the Term of Employment (the “Annual Bonus”). The target Annual Bonus for each fiscal year shall be established by the Compensation Committee and not be less than $300,000 (the
“Target Annual Bonus”), with the actual Annual Bonus payable being based upon the level of achievement of annual Company and individual performance objectives for such fiscal year, as determined by the Compensation Committee and
communicated to Executive during the first 

  
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quarter of such fiscal year. The Annual Bonus shall otherwise be subject to the terms and conditions of the annual bonus plan adopted by the Board or the Compensation Committee, if any, under
which bonuses are generally payable to senior executives of the Company, as in effect from time to time; provided, that the Annual Bonus shall be paid only in cash unless otherwise agreed in writing by Executive. The Annual Bonus shall be paid to
Executive at the same time as annual bonuses are generally payable to other senior executives of the Company subject to Executive’s continuous employment through the end of the fiscal year to which such bonus relates (subject to Section 7
below). 
 (c)    Equity Participation. In connection with the commencement of Executive’s employment
hereunder, Executive shall be entitled to participate in the equity incentive plan(s) of the Company as in effect from time to time and pursuant to the terms of such plan(s), the applicable award agreement and such other documents Executive is
required to execute in connection with the grant of any award under such plan(s) (the plan(s), the award agreement, and such other documents collectively, the “Equity Documents”). The terms of Executive’s equity awards shall be
exclusively governed by the terms of the Equity Documents. 
 (d)    Closing Equity Awards. Without limiting the
foregoing, subject to Executive’s continued employment hereunder through the Closing, upon or as soon as reasonably practicable following the Closing, Executive will be granted (i) shares of fully vested common stock of PubCo having a
value1 equal to $2 million (the “Stock Grant”), which Stock Grant shall be subject to any share lock-up provisions and any other
customary terms that are applicable generally to other executive shareholders of the Company, and (ii) shares of restricted common stock of PubCo having a value equal $1.5 million (the “Incentive Award” and together with
the Stock Grant, the “Equity Grants”). Forty percent (40%) of the Incentive Award shall vest on the first anniversary of the Closing, and the remaining sixty percent (60%) of the Incentive Award shall vest in substantially equal
annual installments over the next three (3) years, in each case based upon Executive’s continued employment hereunder, subject to acceleration of vesting upon any Change in Control or if Executive is terminated without Cause or resigns
with Good Reason, and shall otherwise be subject to the terms and conditions of the Equity Documents. 

(e)    Closing Bonus. In addition to the Equity Grants, and subject to Executive’s continued employment
hereunder through the Closing, upon the Closing, Executive shall be entitled to receive a one-time, lump-sum payment equal to $350,000, payable upon the next regularly
scheduled payroll date immediately following the Closing. 
 Section 5.    Employee
Benefits. 
 During the Term of Employment, Executive shall be entitled to participate in health, insurance, retirement, and other
benefits provided generally to senior executives of the Company. Executive shall also be entitled to the same number of holidays and sick days, as well as any other benefits, in each case as are generally allowed to senior executives of the Company

  

	1 	 For purposes of this Agreement, the number of shares which will be issued based on the Company’s value
shall be determined using the per share price of the IPO or the value of a PubCo share used to determine the merger consideration per share based on the applicable Going Public Transaction.

  
 -3- 

 
in accordance with the Company policy as in effect from time to time. You will also be entitled to four (4) weeks of vacation annually. Nothing contained herein shall be construed to limit
the Company’s ability to amend, suspend, or terminate any employee benefit plan or policy at any time, and the right to do so is expressly reserved so long as such amendment, suspension or termination is not particularly targeted at Executive.

 Section 6.    Reimbursement of Business Expenses. 

Executive is authorized to incur reasonable business expenses in carrying out Executive’s duties and responsibilities under this
Agreement, and the Company shall promptly reimburse Executive for all such reasonable business expenses, including, without limitation, airfare between Madison, Wisconsin and Las Vegas, Nevada until Executive’s family relocates to Las Vegas,
Nevada (expected to be in May 2021) subject to documentation in accordance with the Company’s policy, as in effect from time to time. 

Section 7.    Termination of Employment. 

(a)    General. The Term of Employment, and Executive’s employment hereunder, shall terminate upon the earliest
to occur of (i) Executive’s death, (ii) a termination by reason of a Disability, (iii) a termination by the Company with or without Cause, and (iv) a termination by Executive with or without Good Reason. Except as otherwise
expressly required by law (e.g., COBRA) or as specifically provided herein, all of Executive’s rights to future Base Salary, Annual Bonus, employee benefits and other compensatory amounts hereunder (if any) shall cease upon the
termination of Executive’s employment hereunder. 
 (b)    Deemed Resignation. Upon any termination of
Executive’s employment for any reason, except as may otherwise be requested by the Company in writing and agreed upon in writing by Executive, Executive shall be deemed to have resigned from any and all directorships, committee memberships, and
any other positions Executive holds with the Company or any other member of the Company Group. 
 (c)    Termination
Due to Death or Disability. Executive’s employment shall terminate automatically upon Executive’s death. The Company may terminate Executive’s employment immediately upon the occurrence of a Disability, such termination to be
effective upon Executive’s receipt of written notice of such termination. Upon Executive’s death or in the event that Executive’s employment is terminated due to Executive’s Disability, Executive or Executive’s estate or
Executive’s beneficiaries, as the case may be, shall be entitled to: 
 (i)    The Accrued
Obligations; 
 (ii)    Any unpaid Annual Bonus in respect of any completed fiscal year that has ended
prior to the date of such termination, which amount shall be paid at such time annual bonuses are paid to other senior executives of the Company, but in no event later than the date that is 21/2 months following the last day of the fiscal year
in which such termination occurred; and 

  
 -4- 

 (iii)    An amount equal to (A) the Target Annual
Bonus multiplied by (B) a fraction, the numerator of which is the number of days elapsed from the commencement of the fiscal year in in which such termination occurs through the date of such termination and the denominator of which is 365 (or
366, as applicable), which amount shall be paid within thirty (30) days of Executive’s termination date. 
 Following Executive’s death or a
termination of Executive’s employment by reason of a Disability, except as set forth in this Section 7(c), Executive shall have no further rights to any compensation or any other benefits under this Agreement. 

(d)    Termination by the Company for Cause. 

(i)    The Company may terminate Executive’s employment at any time upon the occurrence of an act
constituting Cause, effective upon delivery to Executive of written notice of such termination; provided, however, that with respect to termination relying on clause (ii), (vi) or (vii) of the definition of Cause, to the
extent that such act or acts or failure or failures to act are curable, Executive shall be given not less than ten (10) business days’ written notice by the Board of the Company’s intention to terminate Executive for Cause, such
notice to state in detail the particular act or acts or failure or failures to act that constitute the grounds on which the proposed termination for Cause is based, and such termination shall be effective at the expiration of such ten
(10) business day notice period unless Executive has cured such act or acts or failure or failures to act that give rise to Cause during such period. 

(ii)    In the event that the Company terminates Executive’s employment for Cause, he shall be
entitled only to the Accrued Obligations. Following such termination of Executive’s employment for Cause, except as set forth in this Section 7(d)(ii), Executive shall have no further rights to any compensation or any other benefits under
this Agreement. 
 (e)    Termination by the Company without Cause. The Company may terminate Executive’s
employment at any time without Cause, effective upon delivery to Executive of written notice of such termination. In the event that Executive’s employment is terminated by the Company without Cause (other than due to death or Disability),
Executive shall be entitled to: 
 (i)    The Accrued Obligations; 

(ii)    Any unpaid Annual Bonus in respect of any completed fiscal year that has ended prior to the date of
such termination, which amount shall be paid at such time annual bonuses are paid to other senior executives of the Company, but in no event later than the date that is 21/2 months following the last day of the fiscal year in which such
termination occurred; 
 (iii)    Subject to satisfaction of the applicable performance objectives
applicable for the fiscal year in which such termination occurs, an amount equal to (A) the Annual Bonus otherwise payable to Executive for the fiscal year in which such termination occurred, assuming Executive had remained employed through the
applicable 

  
 -5- 

 
payment date, multiplied by (B) a fraction, the numerator of which is the number of days elapsed from the commencement of such fiscal year through the date of such termination and the
denominator of which is 365 (or 366, as applicable), which amount shall be paid at such time annual bonuses are paid to other senior executives of the Company, but in no event later than the date that is 21/2 months following the last day of
the fiscal year in which such termination occurred; and 
 (iv)    Continuation of Base Salary during the
Severance Term, payable in accordance with the Company’s regular payroll practices. 
 Notwithstanding the foregoing, the payments and benefits
described in clauses (ii) through (iv) above shall immediately terminate, and the Company shall have no further obligations to Executive with respect thereto, in the event that Executive breaches any provision set forth in Section 9
hereof. Following such termination of Executive’s employment by the Company without Cause, except as set forth in this Section 7(e), Executive shall have no further rights to any compensation or any other benefits under this Agreement.

 (f)    Termination by Executive with Good Reason. Executive may terminate Executive’s employment with
Good Reason by providing the Company thirty (30) days’ written notice setting forth in reasonable specificity the event that constitutes Good Reason, which written notice, to be effective, must be provided to the Company within ninety
(90) days of the occurrence of such event. During such thirty (30) day notice period, the Company shall have a cure right (if curable), and if not cured within such period, Executive’s termination will be effective upon the expiration
of such cure period, and Executive shall be entitled to the same payments and benefits as provided in Section 7(e) hereof for a termination by the Company without Cause, subject to the same conditions on payment and benefits as described in
Section 7(e) hereof. Following such termination of Executive’s employment by Executive with Good Reason, except as set forth in this Section 7(f), Executive shall have no further rights to any compensation or any other benefits under
this Agreement. 
 (g)    Termination by Executive without Good Reason. Executive may terminate Executive’s
employment without Good Reason by providing the Company thirty (30) days’ written notice of such termination. In the event of a termination of employment by Executive under this Section 7(g), Executive shall be entitled only to the
Accrued Obligations. In the event of termination of Executive’s employment under this Section 7(g), the Company may, in its sole and absolute discretion, by written notice accelerate such date of termination without changing the
characterization of such termination as a termination by Executive without Good Reason. Following such termination of Executive’s employment by Executive without Good Reason, except as set forth in this Section 7(g), Executive shall have
no further rights to any compensation or any other benefits under this Agreement. 
 (h)    Release.
Notwithstanding any provision herein to the contrary, the payment of any amount or provision of any benefit pursuant to subsection (e) or (f) of this Section 7 other than the Accrued Obligations (collectively, the “Severance
Benefits”) shall be conditioned upon Executive’s execution, delivery to the Company, and non-revocation of the Release of Claims (and the expiration of any revocation period contained in such
Release of Claims) within sixty (60) days following the date of Executive’s termination of employment 

  
 -6- 

 
hereunder (the “Release Execution Period”). If Executive fails to execute the Release of Claims in such a timely manner so as to permit any revocation period to expire prior to
the end of such sixty (60) day period, or timely revokes Executive’s acceptance of such release following its execution, Executive shall not be entitled to any of the Severance Benefits. No portion of the Severance (other than Accrued
Obligations) shall be paid until the Release of Claims has become effective and all such amounts shall commence to be paid on the first regular payroll date of the Company after the Release of Claims has become effective; provided, that, if
the Release Execution Period overlaps two calendar years, the first payment shall not be made sooner than the first day of the second year, and shall include any missed payments. 

Section 8.    Certain Payments. 

In the event that (a) Executive is entitled to receive any payment, benefit or distribution of any type to or for the benefit of
Executive, whether paid or payable, provided or to be provided, or distributed or distributable, pursuant to the terms of this Agreement or otherwise (collectively, the “Payments”), and (b) the net after-tax amount of such Payments, after Executive has paid all taxes due thereon (including, without limitation, taxes due under Section 4999 of the Code) is less than the net
after-tax amount of all such Payments otherwise due to Executive in the aggregate, if such Payments were reduced to an amount equal to 2.99 times Executive’s “base amount” (as defined in
Section 280G(b)(3) of the Code), then the aggregate amount of such Payments payable to Executive shall be reduced to an amount that will equal 2.99 times Executive’s base amount. To the extent such aggregate “parachute payment”
(as defined in Section 280G(b)(2) of the Code) amounts are required to be so reduced, the parachute payment amounts due to Executive (but no non-parachute payment amounts) shall be reduced in the
following order: (i) the parachute payments that are payable in cash shall be reduced (if necessary, to zero) with amounts that are payable last reduced first; (ii) payments and benefits due in respect of any equity, valued at full value
(rather than accelerated value), with the highest values reduced first (as such values are determined under Treasury Regulation Section 1.280G-1, Q&A 24); and (iii) all other non-cash benefits not otherwise described in clause (ii) of this Section 8 reduced last. 

Section 9.    Restrictive Covenants. 

(a)    General. Executive acknowledges and recognizes the highly competitive nature of the business of the Company
Group, that access to Confidential Information renders Executive special and unique within the industry of the Company Group, and that Executive will have the opportunity to develop substantial relationships with existing and prospective clients,
accounts, customers, consultants, contractors, investors, and strategic partners of the Company Group during the course of and as a result of Executive’s employment with the Company. In light of the foregoing, as a condition of Executive’s
employment by the Company, and in consideration of Executive’s employment hereunder and the compensation and benefits provided herein, Executive acknowledges and agrees to the covenants contained in this Section 9. Executive further
recognizes and acknowledges that the restrictions and limitations set forth in this Section 9 are reasonable and valid in geographical and temporal scope and in all other respects and are essential to protect the value of the business and
assets of the Company Group. 

  
 -7- 

 (b)    Confidential Information. 

(i)    Executive acknowledges that, during the Term of Employment, Executive will have access to
information about the Company Group and that Executive’s employment with the Company shall bring Executive into close contact with confidential and proprietary information of the Company Group. In recognition of the foregoing, Executive agrees,
at all times during the Term of Employment and thereafter, to hold in confidence, and not to use, except for the benefit of the Company Group, or to disclose to any Person without written authorization of the Company, any Confidential Information;
provided, that nothing in this Section 9(b)(i) shall prevent Executive from disclosing Confidential Information as may be required by applicable law, rule or court order and nothing shall prevent Executive from disclosing the terms of this
Agreement to his attorneys and other advisors on a need-to-know basis. 

(ii)    Nothing in this Agreement shall prohibit or impede Executive from communicating, cooperating or
filing a complaint with any U.S. federal, state or local governmental or law enforcement branch, agency or entity (collectively, a “Governmental Entity”) with respect to possible violations of any U.S. federal, state or
local law or regulation, or otherwise making disclosures to any Governmental Entity, in each case, that are protected under the whistleblower provisions of any such law or regulation, provided that in each case such communications and disclosures
are consistent with applicable law. Executive understands and acknowledges that an individual shall not be held criminally or civilly liable under any Federal or State trade secret law for the disclosure of a trade secret that is made (i) in
confidence to a Federal, State, or local government official or to an attorney solely for the purpose of reporting or investigating a suspected violation of law, or (ii) in a complaint or other document filed in a lawsuit or other proceeding,
if such filing is made under seal. Executive understands and acknowledges further that an individual who files a lawsuit for retaliation by an employer for reporting a suspected violation of law may disclose the trade secret to the attorney of the
individual and use the trade secret information in the court proceeding, if the individual files any document containing the trade secret under seal; and does not disclose the trade secret, except pursuant to court order. Moreover, Executive is not
required to give prior notice to (or get prior authorization from) the Company regarding any such communication or disclosure. Notwithstanding the foregoing, under no circumstance will Executive be authorized to disclose any information covered by
attorney-client privilege or attorney work product of any member of the Company Group without prior written consent of Company’s General Counsel or other officer designated by the Company. Participant does not need the prior authorization of
(or to give notice to) any member of the Company Group regarding any communication, disclosure, or activity permitted by this paragraph. 

(c)    Assignment of Intellectual Property. 

(i)    Executive agrees that he will, without additional compensation, promptly make full written
disclosure to the Company, and will hold in trust for the sole right and benefit of the Company all developments, original works of authorship, inventions, concepts, know-how, improvements, trade secrets, and
similar proprietary 

  
 -8- 

 
rights, whether or not patentable or registrable under copyright or similar laws, which Executive may (or have previously) solely or jointly conceive or develop or reduce to practice, or cause to
be conceived or developed or reduced to practice, during the Term of Employment, whether or not during regular working hours, provided they arise out of Executive’s employment with the Company or are developed through the use of equipment,
supplies, or facilities of any member of the Company Group, or any Confidential Information, or in consultation with personnel of any member of the Company Group (collectively referred to as “Developments”). Executive further
acknowledges that all Developments made by Executive (solely or jointly with others) within the scope of and during the Term of Employment are “works made for hire” (to the greatest extent permitted by applicable law) for which Executive
is, in part, compensated by Executive’s Base Salary, unless regulated otherwise by law, but that, in the event any such Development is deemed not to be a work made for hire, Executive hereby assigns to the Company, or its designee, all
Executive’s right, title, and interest throughout the world in and to any such Development. 

(ii)    Executive agrees to reasonably assist the Company, or its designee, at the Company’s expense,
in every way to secure the rights of the Company Group in the Developments and any copyrights, patents, trademarks, service marks, database rights, domain names, mask work rights, moral rights, and other intellectual property rights relating thereto
in any and all countries, including the disclosure to the Company of all pertinent information and data with respect thereto, the execution of all applications, specifications, oaths, assignments, recordations, and all other instruments that the
Company shall deem necessary in order to apply for, obtain, maintain, and transfer such rights and in order to assign and convey to the Company Group the sole and exclusive right, title, and interest in and to such Developments, and any intellectual
property and other proprietary rights relating thereto. Executive further agrees that Executive’s obligation to execute or cause to be executed, when it is in Executive’s power to do so, any such instrument or papers shall continue after
the termination of the Term of Employment until the expiration of the last such intellectual property right to expire in any country of the world; provided, however, that the Company shall reimburse Executive for Executive’s
reasonable expenses incurred in connection with carrying out the foregoing obligation. If the Company is unable because of Executive’s mental or physical incapacity or unavailability for any other reason to secure Executive’s signature to
apply for or to pursue any application for any United States or foreign patents or copyright registrations covering Developments or original works of authorship assigned to the Company as above, then Executive hereby irrevocably designates and
appoints the Company and its duly authorized officers and agents as Executive’s agent and attorney in fact to act for and in Executive’s behalf and stead to execute and file any such applications or records and to do all other lawfully
permitted acts to further the application for, prosecution, issuance, maintenance, and transfer of letters patent or registrations thereon with the same legal force and effect as if originally executed by me. Executive hereby waives and irrevocably
quitclaims to the Company any and all claims, of any nature whatsoever, that Executive now or hereafter have for past, present, or future infringement of any and all proprietary rights assigned to the Company. 

  
 -9- 

 (d)    Non-Competition.
During the Term of Employment and the Post-Termination Restricted Period, Executive shall not, directly or indirectly engage in, have any equity interest in, or manage, provide services to or operate any person, firm, corporation, partnership or
business (whether as director, officer, employee, agent, representative, partner, member, security holder, consultant or otherwise) that engages in any business, directly or indirectly (through a subsidiary or otherwise), which competes with the
Business within the United States of America or any other jurisdiction in which any member of the Company Group engages in business, derives a material portion of its revenues or has demonstrable plans to commence business activities in.
Notwithstanding the foregoing, Executive may at any time own, for investment purposes only, up to three percent (3%) of the equity of any publicly-held company whose equity is either listed on a national stock exchange or on the NASDAQ National
Market System. 
 (e)    Non-Interference. During the Term of Employment
and the Post-Termination Restricted Period, Executive shall not, directly or indirectly for Executive’s own account or for the account of any other Person, engage in Interfering Activities. 

(f)    Return of Documents. In the event of Executive’s termination of employment hereunder for any reason,
Executive shall deliver to the Company (and will not keep in Executive’s possession, recreate, or deliver to anyone else) or destroy, at Executive’s sole option, any and all Confidential Information and all other documents, materials,
information, and property otherwise belonging to the Company Group; provided, that Executive shall be entitled to retain his personal contacts, digital or physical rolodex and/or any other personal property he may keep in his office. 

(g)    Independence; Severability; Blue Pencil. Each of the rights enumerated in this Section 9 shall be
independent of the others and shall be in addition to and not in lieu of any other rights and remedies available to the Company Group at law or in equity. If any of the provisions of this Section 9 or any part of any of them is hereafter
construed or adjudicated to be invalid or unenforceable, the same shall not affect the remainder of this Section 9, which shall be given full effect without regard to the invalid portions. If any of the covenants contained herein are held to be
invalid or unenforceable because of the duration of such provisions or the area or scope covered thereby, each of the Company and Executive agree that the court making such determination shall have the power to reduce the duration, scope, and/or
area of such provision to the maximum and/or broadest duration, scope, and/or area permissible by law, and in its reduced form said provision shall then be enforceable. 

(h)    Injunctive Relief. Executive expressly acknowledges that any breach or threatened breach of any of the terms
and/or conditions set forth in this Section 9 may result in substantial, continuing, and irreparable injury to the members of the Company Group. Therefore, Executive hereby agrees that, in addition to any other remedy that may be available to
the Company, any member of the Company Group shall be entitled to seek injunctive relief, specific performance, or other equitable relief by a court of appropriate jurisdiction in the event of any breach or threatened breach of the terms of this
Section 9. Notwithstanding any other provision to the contrary, Executive acknowledges and agrees that the Post-Termination Restricted Period shall be tolled during any period of violation of any of the covenants in this Section 9 and
during any other period required for litigation during which the Company or any other member of the Company Group seeks to enforce such covenants against Executive if it is ultimately determined that Executive was in breach of such covenants. 

  
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 (i)    Disclosure of Covenants. As long as it remains in effect,
Executive will disclose the existence of the covenants contained in this Section 9 to any prospective employer, partner, co-venturer, investor, or lender prior to entering into an employment, partnership, or other business relationship with
such Person or entity. 
 (j)    Other Covenants. Notwithstanding anything contained in this Agreement to the
contrary, in the event that Executive is subject to similar restrictive covenants pursuant to any other agreement with any member of the Company Group, including, without limitation, under the Equity Documents (“Other Covenants”),
the covenants contained in this Agreement shall be in addition to, and not in lieu of, any such Other Covenants, and enforcement by the Company of the covenants contained in this Agreement shall not preclude the applicable member of the Company
Group from enforcing such Other Covenants in accordance with their terms. 

Section 10.    Representations and Warranties of Executive. 

Executive represents and warrants to the Company that: 

(a)    Executive is entering into this Agreement voluntarily and Executive’s employment hereunder and compliance with
the terms and conditions hereof will not conflict with or result in the breach by Executive of any agreement to which he is a party or by which he may be bound; 

(b)    By entering into this Agreement Executive has not violated any
non-solicitation, non-competition, or other similar covenant or agreement with any Person by which he is or may be bound; 

(c)    In connection with Executive’s employment with the Company, Executive will not use any confidential or
proprietary information he may have obtained in connection with employment or service with any prior service recipient; and 

(d)    Executive has not been terminated from any prior employer or service recipient, or otherwise disciplined in
connection any such relationship, in connection with, or as a result of, any claim of workplace sexual harassment or sex or gender discrimination, and to Executive’s knowledge, Executive has not been the subject of any investigation, formal
allegation, civil or criminal complaint, charge, or settlement regarding workplace sexual harassment or sex or gender discrimination. 

Section 11.    Taxes. 

The Company may withhold from any payments made under this Agreement or otherwise made in connection with Executive’s employment
hereunder, all applicable taxes, including but not limited to income, employment, and social insurance taxes, as shall be required by law. If any such taxes are paid or advanced by the Company on behalf of Executive, Executive shall remain
responsible for, and shall repay, such amounts to the Company, promptly following notice thereof by the Company. Executive acknowledges and represents that the 

  
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Company has not provided any tax advice to Executive in connection with this Agreement and that he has been advised by the Company to seek tax advice from Executive’s own tax advisors
regarding this Agreement and payments that may be made to Executive pursuant to this Agreement, including specifically, the application of the provisions of Section 409A of the Code to such payments. 

Section 12.    Mitigation. 

Executive shall not be required to mitigate the amount of any payment provided pursuant to this Agreement by seeking other employment or
otherwise and the amount of any payment provided for pursuant to this Agreement shall not be reduced by any compensation earned as a result of Executive’s other employment or otherwise. 

Section 13.    Additional Section 409A Provisions. 

Notwithstanding any provision in this Agreement to the contrary: 

(a)    Any payment otherwise required to be made hereunder to Executive at any date as a result of the termination of
Executive’s employment shall be delayed for such period of time as may be necessary to meet the requirements of Section 409A(a)(2)(B)(i) of the Code (the “Delay Period”). On the first business day following the expiration
of the Delay Period, Executive shall be paid, in a single cash lump sum, an amount equal to the aggregate amount of all payments delayed pursuant to the preceding sentence, and any remaining payments not so delayed shall continue to be paid pursuant
to the payment schedule set forth herein. 
 (b)    Each payment in a series of payments hereunder shall be deemed to be
a separate payment for purposes of Section 409A of the Code. 
 (c)    Notwithstanding anything herein to the
contrary, the payment (or commencement of a series of payments) hereunder of any nonqualified deferred compensation (within the meaning of Section 409A of the Code) upon a termination of employment shall be delayed until such time as Executive
has also undergone a “separation from service” as defined in Treas. Reg. 1.409A-1(h), at which time such nonqualified deferred compensation (calculated as of the date of Executive’s termination
of employment hereunder) shall be paid (or commence to be paid) to Executive on the schedule set forth in this Section 7 as if Executive had undergone such termination of employment (under the same circumstances) on the date of Executive’s
ultimate “separation from service.” 
 (d)    To the extent that any right to reimbursement of expenses or
payment of any benefit in-kind under this Agreement constitutes nonqualified deferred compensation (within the meaning of Section 409A of the Code), (i) any such expense reimbursement shall be made
by the Company no later than the last day of the taxable year following the taxable year in which such expense was incurred by Executive, (ii) the right to reimbursement or in-kind benefits shall not be
subject to liquidation or exchange for another benefit, and (iii) the amount of expenses eligible for reimbursement or in-kind benefits provided during any taxable year shall not affect the expenses
eligible for reimbursement or in-kind benefits to be provided in any other taxable year; provided, however, that the foregoing clause shall not be violated with regard to expenses reimbursed
under any arrangement covered by Section 105(b) of the Code solely because such expenses are subject to a limit related to the period the arrangement is in effect. 

  
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 (e)    While the payments and benefits provided hereunder are intended
to be structured in a manner to avoid the implication of any penalty taxes under Section 409A of the Code, and shall be interpreted in a manner consistent with such intention, in no event whatsoever shall any member of the Company Group be
liable for any additional tax, interest, or penalties that may be imposed on Executive as a result of Section 409A of the Code or any damages for failing to comply with Section 409A of the Code (other than for withholding obligations or
other obligations applicable to employers, if any, under Section 409A of the Code). 

Section 14.    Successors and Assigns; No Third-Party Beneficiaries. 

(a)    The Company. This Agreement shall inure to the benefit of the Company and its respective successors and
assigns. Except as expressly contemplated in the introductory clauses of this Agreement, neither this Agreement nor any of the rights, obligations, or interests arising hereunder may be assigned by the Company to a Person (other than another member
of the Company Group, or its or their respective successors) without Executive’s prior written consent (which shall not be unreasonably withheld, delayed, or conditioned); provided, however, that in the event of a sale of all or
substantially all of the assets of the Company or any direct or indirect division or subsidiary thereof to which Executive’s employment primarily relates, the Company may provide that this Agreement will be assigned to, and assumed by, the
acquiror of such assets, division or subsidiary, as applicable, without Executive’s consent. 

(b)    Executive. Executive’s rights and obligations under this Agreement shall not be transferable by
Executive by assignment or otherwise, without the prior written consent of the Company; provided, however, that if Executive shall die, all amounts then payable to Executive hereunder shall be paid in accordance with the terms of this
Agreement to Executive’s devisee, legatee, or other designee, or if there be no such designee, to Executive’s estate. 

(c)    No Third-Party Beneficiaries. Except as otherwise set forth in Section 7(c) or Section 14(b)
hereof, nothing expressed or referred to in this Agreement will be construed to give any Person other than the Company, the other members of the Company Group, and Executive any legal or equitable right, remedy, or claim under or with respect to
this Agreement or any provision of this Agreement. 
 Section 15.    Indemnity. 

Except as otherwise provided herein, the Company (and following the Closing, PubCo) will, to the maximum extent permitted by law, defend,
indemnify and hold harmless Executive and Executive’s heirs, estate, executors and administrators against any costs, losses, claims, suits, proceedings, damages or liabilities to which Executive may become subject which arise out of, are based
upon or relate to Executive’s employment by the Company, including without limitation reimbursement for any legal or other expenses reasonably incurred by Executive in connection with the investigation of and defense against any such claims,
suits, or proceedings. Notwithstanding the foregoing, however, the Company’s obligation to defend, indemnify and hold harmless contained in this Section shall not apply to claims between the 

  
 -13- 

 
Company and Executive (including Executive’s heirs, estate, executors and administrators) including, without limitation, disputes arising out of the terms of this Agreement, nor shall it
apply to any claims or suits successfully adjudicated on the merits against Executive based upon Executive’s willful misconduct or gross negligence or Executive’s breach of any term of this Agreement (in which event Executive shall
promptly return to the Company all legal and other expenses paid on Executive’s behalf). 

Section 16.    Waiver and Amendments. 

Any waiver, alteration, amendment, or modification of any of the terms of this Agreement shall be valid only if made in writing and signed by
each of the parties hereto; provided, however, that any such waiver, alteration, amendment, or modification must be consented to on the Company’s behalf by the Board. No waiver by either of the parties hereto of their rights
hereunder shall be deemed to constitute a waiver with respect to any subsequent occurrences or transactions hereunder unless such waiver specifically states that it is to be construed as a continuing waiver. 

Section 17.    Severability. 

If any covenants or such other provisions of this Agreement are found to be invalid or unenforceable by a final determination of a court of
competent jurisdiction, (a) the remaining terms and provisions hereof shall be unimpaired, and (b) the invalid or unenforceable term or provision hereof shall be deemed replaced by a term or provision that is valid and enforceable and that
comes closest to expressing the intention of the invalid or unenforceable term or provision hereof. 

Section 18.    Governing Law; Waiver of Jury Trial; Arbitration. 

THIS AGREEMENT IS GOVERNED BY AND IS TO BE CONSTRUED UNDER THE LAWS OF THE STATE OF NEVADA. EACH PARTY TO THIS AGREEMENT ALSO HEREBY WAIVES ANY
RIGHT TO TRIAL BY JURY IN CONNECTION WITH ANY SUIT, ACTION, OR PROCEEDING UNDER OR IN CONNECTION WITH THIS AGREEMENT. 

Section 19.    Notices. 

(a)    Place of Delivery. Every notice or other communication relating to this Agreement shall be in writing, and
shall be mailed to or delivered to the party for whom or which it is intended at such address as may from time to time be designated by it in a notice mailed or delivered to the other party as herein provided; provided, however, that
unless and until some other address be so designated, all notices and communications by Executive to the Company shall be mailed or delivered to the Company at its principal executive office, and all notices and communications by the Company to
Executive may be given to Executive personally or may be mailed to Executive at Executive’s last known address, as reflected in the Company’s records. A copy (which such copy shall not constitute notice) of any notice to be delivered to
Executive shall be delivered to Grubman Shire Meiselas Sacks, P.C., 152 W. 57th Street, New York, NY 10019, Attn: Kyle D. Zimmerman. Email: kzimmerman@gispc.com. 

  
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 (b)    Date of Delivery. Any notice so addressed shall be deemed
to be given (i) if delivered by hand, on the date of such delivery, (ii) if mailed by courier or by overnight mail, on the first business day following the date of such mailing, and (iii) if mailed by registered or certified mail, on
the third business day after the date of such mailing. 
 Section 20.    Section
Headings. 
 The headings of the sections and subsections of this Agreement are inserted for convenience only and shall not be deemed to
constitute a part thereof or affect the meaning or interpretation of this Agreement or of any term or provision hereof. 

Section 21.    Entire Agreement. 

This Agreement constitutes the entire understanding and agreement of the parties hereto regarding the employment of Executive. This Agreement
supersedes all prior negotiations, discussions, correspondence, communications, understandings, and agreements between the parties relating to the subject matter of this Agreement, including without limitation, the Prior Agreement (and specifically
any provisions relating to compensation and equity grants contemplated thereunder). 

Section 22.    Survival of Operative Sections. 

Upon any termination of Executive’s employment, the provisions of Section 7 through Section 23 of this Agreement (together with
any related definitions set forth on Appendix A) shall survive to the extent necessary to give effect to the provisions thereof. 

Section 23.    Counterparts. 

This Agreement may be executed in two or more counterparts, each of which shall be deemed to be an original but all of which together shall
constitute one and the same instrument. The execution of this Agreement may be by actual or electronic facsimile signature. 

*        *        * 

[Signatures to appear on the following page.] 

  
 -15- 

 IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the date first above
written. 
  

	
	MP MINE OPERATIONS LLC
	
	 /S/ James Litinsky

	 By: James H. Litinsky
 Title: Co-Chairman

	
	EXECUTIVE
	
	 /S/ Ryan Corbett

By: Ryan Corbett

 APPENDIX A 

Definitions 

(a)    “Accrued Obligations” shall mean (i) all accrued but unpaid Base Salary through the date of
termination of Executive’s employment, (ii) any unpaid or unreimbursed expenses incurred in accordance with Section 6 hereof, and (iii) any benefits provided under the Company’s employee benefit plans upon a termination of
employment, including rights with respect to equity participation under the Equity Documents, in accordance with the terms contained therein. 

(b)    “Board” shall mean the Board of Directors of the Company. 

(c)    “Business” shall mean any business activities related to rare earth mining and processing, or any
other current or demonstrably planned material business activities of the Company Group. 
 (d)    “Business
Relation” shall mean any current or prospective client, customer, licensee, supplier, or other business relation of the Company Group, or any such relation that was a client, customer, licensee or other business relation within the prior
six (6) month period, in each case, with whom Executive transacted business or whose identity became known to Executive in connection with Executive’s employment hereunder. 

(e)    “Cause” shall mean (i) Executive’s act(s) of gross negligence or willful misconduct in
the course of Executive’s employment hereunder, (ii) willful and repeated failure, neglect or refusal by Executive to perform in any material respect Executive’s duties or responsibilities, (iii) misappropriation (or attempted
misappropriation) by Executive of any material assets or business opportunities of the Company or any other member of the Company Group, (iv) embezzlement or fraud committed (or attempted) by Executive, or at Executive’s direction,
(v) Executive’s conviction of, or pleading “guilty” or “ no contest” to, (x) a felony or (y) any crime of moral turpitude, (vi) any material violation by Executive of the policies of the Company,
including but not limited to those relating to sexual harassment or business conduct, and those otherwise set forth in the manuals or statements of policy of the Company, or (vii) Executive’s material breach of this Agreement. 

(f)    “Change in Control” shall mean (i) a merger in which PubCo is not the surviving corporation;
(ii) a merger, sale or transaction involving PubCo where the equity holders of PubCo before such merger or sale or exchange do not retain, directly or indirectly, at least a majority of the beneficial interest in the voting stock of the
surviving corporation or the parent company thereof; or (iii) the sale or exchange of all or substantially all of PubCo’s assets; provided, however, that this definition of Change in Control may be superseded by any comparable definition
in the Equity Documents. 
 (g)    “Code” shall mean the Internal Revenue Code of 1986, as amended, and
the rules and regulations promulgated thereunder. 
 (h)    “Company Group” shall mean the Company
together with any of its direct or indirect subsidiaries. 

 (i)    “Compensation Committee” shall mean the
compensation committee of the Board. Prior to any time that such a committee has been designated, the Board shall be deemed the Compensation Committee for purposes of this Agreement. 

(j)    “Confidential Information” means information that the Company Group has or will develop, acquire,
create, compile, discover, or own, that has value in or to the business of the Company Group that is not generally known and that the Company wishes to maintain as confidential. Confidential Information includes, but is not limited to, any and all non-public information that relates to the actual or anticipated business and/or products, research, or development of the Company Group, or to the Company Group’s technical data, trade secrets, or know-how, including, but not limited to, research, plans, or other information regarding the Company Group’s products or services and markets, customer lists, and customers (including, but not limited to,
customers of the Company on whom Executive called or with whom Executive may become acquainted during the Term of Employment), software, developments, inventions, processes, formulas, technology, designs, drawings, engineering, hardware
configuration information, marketing, finances, and other business information disclosed by the Company either directly or indirectly in writing, orally, or by drawings or inspection of premises, parts, equipment, or other Company Group property.
Notwithstanding the foregoing, Confidential Information shall not include any of the foregoing items (i) that have become publicly and widely known through no unauthorized disclosure by Executive or others who were under confidentiality
obligations as to the item or items involved, (ii) that have been independently developed without the use of or reference to Confidential Information or (iii) if such item has been provided by a third party to Executive and is not known by
Executive to be subject to any confidentiality restrictions. 
 (k)    “Disability” shall mean any
physical or mental disability or infirmity of Executive that prevents the substantial performance of Executive’s duties notwithstanding reasonable accommodation for a period of (i) ninety (90) consecutive days or (ii) one hundred
fifty (150) non-consecutive days during any twelve (12) month period. Any question as to the existence, extent, or potentiality of Executive’s Disability upon which Executive and the Company
cannot agree shall be determined by a qualified, independent physician selected by the Company and approved by Executive. The determination of any such physician shall be final and conclusive for all purposes of this Agreement. 

(l)    “Good Reason” shall mean, without Executive’s consent, (i) a material demotion in
Executive’s title, duties, authority or responsibilities as set forth in Section 3 hereof, (ii) a reduction in Base Salary set forth in Section 4(a) hereof or Target Annual Bonus opportunity set forth in Section 4(b) hereof,
(iii) the relocation of Executive’s principal place of employment (as provided in Section 3(c) hereof) more than fifty (50) miles from its current location, or (iv) any other material breach of a provision of this Agreement
by the Company (other than a provision that is covered by clause (i), (ii), or (iii) above). 

(m)    “Interfering Activities” shall mean (A) recruiting, encouraging, soliciting, or inducing, or
in any manner attempting to recruit, encourage, solicit, or induce, any Person employed by, or providing consulting services to, any member of the Company Group to terminate such Person’s employment or services (or in the case of a consultant,
materially reducing such services) with the Company Group, (B) hiring any individual who was employed 

  
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by the Company Group within the six (6) month period prior to the date of such hiring, or (C) encouraging, soliciting, or inducing, or in any manner attempting to encourage, solicit, or
induce, any Business Relation to cease doing business with or reduce the amount of business conducted with the Company Group, or in any way interfering with the relationship between any such Business Relation and the Company Group; provided, that
engaging in a general solicitation not specifically targeted at the foregoing individuals shall not be Interfering Activities. 

(n)    “Person” shall mean any individual, corporation, partnership, limited liability company, joint
venture, association, joint-stock company, trust (charitable or non-charitable), unincorporated organization, or other form of business entity. 

(o)    “Post-Termination Restricted Period” shall mean the period commencing on the date of the
termination of the Term of Employment for any reason and ending on the twelve (12) month anniversary of such date of termination. 

(p)    “Release of Claims” shall mean a general release of claims delivered to Executive by the Company
in connection with Executive’s termination of employment in a mutually acceptable form. 

(q)    “Severance Term” shall mean the period commencing on the date of Executive’s termination by
the Company without Cause (other than by reason of death or Disability) or by Executive with Good Reason and ending on the twelve (12) month anniversary of such date of termination. 

  
 -3-

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