Document:

EX-10.3

 Exhibit 10.3 

FORM OF SHAREHOLDERS’ AGREEMENT 

by and between 
 FMC CORPORATION

 and 
 LIVENT CORPORATION 

Dated as of [—] 

 TABLE OF CONTENTS 

 
  

 

					
	 	  	PAGE	 
	 ARTICLE I
	  			
	 DEFINITIONS
	  			
		
	 Section 1.01. Certain Definitions
	  	 	1	 
		
	 ARTICLE II
	  			
	 GOVERNANCE MATTERS
	  			
		
	 Section 2.01. Charter; By-Laws
	  	 	3	 
	 Section 2.02. Board Representation
	  	 	3	 
	 Section 2.03. Exemption from Corporate Governance Rules
	  	 	3	 
		
	 ARTICLE III
	  			
	 MATTERS RELATED TO
THE OPERATION OF THE LITHIUM BUSINESS
	  			
		
	 Section 3.01. No Restriction on Competition
	  	 	3	 
	 Section 3.02. Non-Solicitation; No-Hire
	  	 	4	 
	 Section 3.03. Additional Covenants
	  	 	4	 
	 Section 3.04. Directors’ and Officers’ Insurance
	  	 	6	 
		
	 ARTICLE IV
	  			
	 FINANCIAL COVENANTS AND
INFORMATION RIGHTS
	  			
		
	 Section 4.01. Disclosure and Financial Controls
	  	 	6	 
	 Section 4.02. Information Rights
	  	 	9	 
	 Section 4.03. Press Releases
	  	 	10	 
	 Section 4.04. Cooperation on Parent Filings
	  	 	10	 
	 Section 4.05. Auditors and Audits; Annual Statements and Accounting
	  	 	11	 
		
	 ARTICLE V
	  			
	 ADDITIONAL TERMS
	  			
		
	 Section 5.01. Applicability of Rights in the Event of an Acquisition of the
Company
	  	 	13	 
	 Section 5.02. Termination
	  	 	13	 
	 Section 5.03. Confidentiality
	  	 	14	 
	 Section 5.04. Transfer of Parent’s Rights
	  	 	15	 
	 Section 5.05. Interpretation; Incorporation of Terms by Reference
	  	 	15	 

 FORM OF SHAREHOLDERS’ AGREEMENT 

THIS SHAREHOLDERS’ AGREEMENT, dated as of [—], is by and between FMC CORPORATION, a Delaware corporation (“Parent”)
and LIVENT CORPORATION, a Delaware corporation (the “Company”). 
 R E C I T A L S 

WHEREAS, Parent beneficially owns approximately [—] percent ([—]%) of the issued and outstanding Company Common Stock, and the
Company is a part of Parent’s “affiliated group” of companies for federal income tax purposes as of the date hereof; 

WHEREAS, the Company has issued shares of Company Common Stock to the public in an initial public offering (the “IPO”)
pursuant to a registration statement on Form S-1 (the “IPO Registration Statement”) under the Securities Act; 

WHEREAS, after the IPO, Parent may transfer shares of Company Common Stock to stockholders of Parent by means of one or more distributions by
Parent to its stockholders of shares of Company Common Stock, one or more offers to stockholders of Parent to exchange their Parent Common Stock for shares of Company Common Stock (any combination thereof, the “Distribution”), or,
alternatively, Parent may effect a disposition of its Company Common Stock pursuant to one or more public or private offerings, equity for debt exchanges or other similar transactions, or Parent (or its transferees) may continue to hold its interest
in shares of Company Common Stock; and 
 WHEREAS, the parties desire to enter into this Agreement to set forth their agreements regarding
the relationship between Parent, the Company and their respective Subsidiaries following the IPO. 
 NOW, THEREFORE, in consideration of the
mutual agreements, provisions and covenants contained in this Agreement, the parties, intending to be legally bound, hereby agree as follows: 

ARTICLE I 

DEFINITIONS 

Section 1.01. Certain Definitions. For the purposes of this Agreement the following terms shall have the following meanings;
provided that capitalized terms used but not otherwise defined in this Section 1.01 shall have the respective meanings ascribed to such terms in the Separation and Distribution Agreement: 

“Agreement” means this Shareholders’ Agreement, including all of the schedules and exhibits hereto. 

  
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 “Applicable Period” has the meaning set forth in Section 4.01. 

“By-Laws” has the meaning set forth in Section 2.01. 

“Charter” has the meaning set forth in Section 2.01. 

“Company” has the meaning set forth in the preamble hereto. 

“Company Auditors” has the meaning set forth in Section 4.05(a). 

“Company Directors” has the meaning set forth in Section 2.02(a). 

“Company Public Documents” has the meaning set forth in Section 4.02(a). 

“Disclosing Party” has the meaning set forth in Section 5.03(a). 

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

“Financial Reporting Timeline” means Parent’s standard financial reporting timeline, as in effect as of the Separation
Date or as modified by Parent thereafter (with notice to the Company), for the provision of consolidated financial information and financial statements to be included in Parent’s Form 10-Q, 10-K or other document to be filed with the SEC, as applicable. 
 “Financial Statements”
has the meaning set forth in Section 4.01(d). 
 “IPO” has the meaning set forth in the recitals. 

“IPO Registration Statement” has the meaning set forth in the recitals. 

“Parent” has the meaning set forth in the preamble hereto. 

“Parent Auditors” has the meaning set forth in Section 4.05(b). 

“Parent Financial Statements” has the meaning set forth in Section 4.01(f). 

“Parent Public Filings” has the meaning set forth in Section 4.04. 

“Parent Transaction” has the meaning set forth in Section 5.03(d). 

“Parent Transferee” has the meaning set forth in Section 5.04. 

“Receiving Party” has the meaning set forth in Section 5.03(a). 

“Separation and Distribution Agreement” means the Separation and Distribution Agreement, dated on or about the date hereof,
by and between Parent and the Company, as amended, modified or supplemented from time to time. 
 “Voting Stock” has the
meaning set forth in Section 2.03. 

  
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 ARTICLE II 

GOVERNANCE MATTERS 

Section 2.01. Charter; By-Laws. Prior to the effectiveness of the IPO Registration
Statement, Parent and the Company will each take all actions that may be required to provide for the adoption by the Company of an amended and restated certificate of incorporation of the Company, substantially in the form approved by Parent in its
sole discretion and attached as an exhibit to the IPO Registration Statement (the “Charter”), and amended and restated by-laws of the Company, substantially in the form approved by Parent in
its sole discretion and attached as an exhibit to the IPO Registration Statement (the “By-Laws”). 

Section 2.02. Board Representation. (a) The parties agree that the Company Board shall have no less than three (3) and
no greater than fifteen (15) members at any given time (as determined in the sole discretion of the Company Board in accordance with the Charter and the By-Laws), and as of the Separation Date, the
Company Board shall consist of seven (7) members (the “Company Directors”), each of whom shall have been designated by Parent and duly elected prior to the Separation Date. In accordance with the Charter and the By-Laws, the Company Board will consist of three (3) classes of directors and any vacancies on the Company Board, including as a result of any increase in the number of Company Directors in accordance with the
Charter, the By-Laws and this Section 2.02, shall be filled by the Company Board in accordance with the Charter and the By-Laws. 

Section 2.03. Exemption from Corporate Governance Rules. For so long as the Parent Group beneficially owns a majority of the total
voting power of all classes of then-outstanding capital stock of the Company entitled to vote generally with respect to the election of directors (“Voting Stock”), the Company shall use reasonable best efforts to exempt itself, as
applicable, from compliance with corporate governance requirements under any applicable Law or rule of any securities exchange or otherwise that relates to director independence (including in respect of requirements to have independent directors on
any applicable committee of the Company Board). 
 ARTICLE III 

MATTERS RELATED TO THE OPERATION OF THE
LITHIUM BUSINESS 
 Section 3.01. No Restriction on Competition. Without limiting any provision of
the Charter or the By-Laws, it is the explicit intent of each of the parties hereto that the provisions of this Agreement, the Separation and Distribution Agreement and the Ancillary Agreements shall not
include any non-competition or other similar restrictive arrangements with respect to the range of business activities which may be conducted by the parties hereto or the members of their respective Groups.
Accordingly, each of the parties hereto acknowledges and agrees that nothing set forth in this Agreement, the Separation and Distribution Agreement or any Ancillary Agreement shall be construed to create any explicit or implied restriction or other
limitation on (i) the ability of any party hereto or any member of its respective Group to engage in any business or other activity which competes with the business of any other party hereto or any members of its respective Group or
(ii) the ability of any party hereto or any member of its respective Group to engage in any specific line of business or engage in any business activity in any specific geographic area. 

  
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 Section 3.02. Non-Solicitation; No-Hire. Until the date that is the twelve- (12)-month anniversary of the date on which Parent and its Affiliates cease to hold a majority of the Voting Stock, none of Parent, the Company or any member of their
respective Groups will, without the prior written consent of the other applicable party, either directly or indirectly, on their own behalf or in the service of or on behalf of others, solicit, aid, induce or encourage any employee of the other
party or any member of its respective Group to leave his or her employment, or hire any such employee; provided that (a) following the Distribution Date, the provisions of this Section 3.02 shall not apply to any employee who was
not an employee of either Group on or prior to the Distribution Date, and (b) nothing in this Section 3.02 shall restrict or preclude the rights of Parent, the Company or any member of their respective Groups from soliciting or hiring
(i) any employee who responds to a general solicitation or advertisement that is not specifically targeted or focused on the employees employed by any other party’s respective Group or the engagement of search firms to engage in such
searches; provided however, that the applicable party has not encouraged or advised such firm to approach any such employee; (ii) any employee whose employment has been terminated by the other party or any member of its respective
Group; or (iii) any employee whose employment has been terminated by such employee after ninety (90) days from the date of termination of such employee’s employment. 

Section 3.03. Additional Covenants. Without limiting any other covenants, undertakings or agreements contained in this Agreement,
the Separation and Distribution Agreement or any Ancillary Agreement, after the Separation Date and for so long as Parent owns at least a majority of the Voting Stock, the Company shall not, and shall not permit any member of the Lithium Group to,
without Parent’s prior written consent: 
 (a) take, or cause to be taken, directly or indirectly, any action, including making or
failing to make any election under any applicable Law, which has the effect, directly or indirectly, of restricting or limiting the ability of Parent to freely sell, transfer, assign, pledge or otherwise dispose of shares of Company Common Stock or
would restrict or limit the rights of any transferee of Parent as a holder of Company Common Stock, including, without limitation, (i) adopting or thereafter amending, supplementing, restating, modifying or altering any stockholder rights plan
in any manner that would result in (x) an increase in the ownership of Company Common Stock by Parent causing the rights thereunder to detach or become exercisable and/or (y) Parent and its transferees not being entitled to the same rights
thereunder as other holders of Company Common Stock, or (ii) the taking of any action, or the taking of any action to recommend to the Company’s stockholders any action, which would among other things, limit the legal rights of, or deny
any benefit to, Parent as a Company stockholder either (x) solely as a result of the amount of Company Common Stock owned by Parent or (y) in a manner not applicable to Company stockholders generally; 

  
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 (b) to the extent that Parent is or becomes a party to any Contract (including any Contract
relating to any Parent Credit Facility) or incurs any Indebtedness the terms of which, in either case, provide that certain actions or inactions of Affiliates of Parent or any member of the Parent Group (which for purposes of such Contract or
Indebtedness includes any member of the Lithium Group) may result in Parent or any member of the Parent Group being in breach of or default under such Contract or Indebtedness and Parent has advised the Company of the existence, and has furnished
the Company with a copy, of such Contract (or the relevant portions thereof) or of the terms (or the relevant portions thereof) of such Indebtedness, the Company will not take or fail to take, as applicable, and the Company will cause the members of
the Lithium Group not to take or fail to take, as applicable, any actions that reasonably could result in Parent or any member of the Parent Group being in breach of or in default under any such Contract or Indebtedness; provided that the
parties acknowledge and agree that from time to time Parent or any member of the Parent Group may in good faith (and not solely with the intention of imposing restrictions on the Company or any member of the Lithium Group pursuant to this covenant)
enter into additional Contracts (or amendments to existing Contracts) or incur any Indebtedness the terms of which, in either case, provide that certain actions or inactions of Subsidiaries or Affiliates of Parent (including, for purposes of this
Section 3.03(b), members of the Lithium Group) may result in Parent or a member of the Parent Group being in breach of or in default under such Contract or Indebtedness, and in such event, the Company will not thereafter take or fail to take,
as applicable, and the Company will cause the members of the Lithium Group not to take or fail to take, as applicable, any actions that reasonably could result in Parent or any member of the Parent Group being in breach of or in default under any
such additional Contracts (or amendments to existing Contracts) or Indebtedness (provided that Parent has notified the Company of such additional Contracts (or amendments to existing Contracts) or the terms of any such Indebtedness);
provided, further that in the event that the Company or any member of the Lithium Group unknowingly takes any action, or fails to take any action, that would require the Parent’s consent hereunder, such action or inaction shall not
constitute a breach of this Section 3.03(b) so long as promptly upon written notice thereof by Parent, the Company remedies or cures such breach of or default under such Contract or Indebtedness; 

(c) issue any shares of the capital stock of the Company or of any member of the Lithium Group, including any Company Common Stock, or any
rights, warrants or options to acquire the Company capital stock (including, without limitation, securities convertible into or exchangeable for the Company capital stock), or any other equity security of the Company, other than (i) Company
Common Stock issued in connection with the IPO (including in connection with the exercise by the Underwriters of any over-allotment option) or (ii) any equity securities issued pursuant to any employee benefit or other plan approved in
connection with the IPO or the other Transactions; 
 (d) dispose of, or agree to dispose of, any of the assets, other than sales of
inventory in the ordinary course of business, held by any member of the Lithium Group with an aggregate value in excess of $5,000,000 in any one such disposition, or $25,000,000 in the aggregate; 

  
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 (e) acquire, or agree to acquire, any businesses or assets for aggregate consideration in
excess of $50,000,000; 
 (f) acquire, or agree to acquire, any equity securities, debt securities or other interest in any Person, whether
by way of a purchase of stock or securities, contributions to capital, or otherwise, for aggregate consideration in excess of $25,000,000 in any such acquisition, or $50,000,000 in the aggregate; 

(g) incur or make, or agree to incur or make, any capital expenditures in excess of $10,000,000, or $50,000,000 in the aggregate, other than
in accordance with any capital expenditure plan set forth on Schedule 3.03(g); 
 (h) incur any Indebtedness, other than (i) pursuant
to the Company Financing Arrangements or (ii) as would not exceed $50,000,000, in the aggregate with all other Indebtedness of the Company (excluding any Indebtedness of the Company incurred pursuant to the Company Financing Arrangements as of
the Separation Date); 
 (i) settle, discharge or otherwise propose to settle or discharge any Action (i) for which the amount in
controversy is in excess of $25,000,000, in the aggregate, (ii) that is seeking any equitable or injunctive relief or (iii) that relates to this Agreement, the Separation and Distribution Agreement, any Ancillary Agreement or the
Transactions; or 
 (j) any action the taking of which by the Company or any member of the Lithium Group would be restricted by, or
otherwise require the consent of any Person pursuant to, any Company Financing Agreement. 
 Section 3.04.
Directors’ and Officers’ Insurance. Until the Trigger Time, each of the directors and officers of the Company and the members of the Lithium Group shall be covered under Parent’s directors’ and
officers’ insurance program. The Company shall take commercially reasonable steps to secure, effective as of the Trigger Time, directors’ and officers’ insurance coverage for the directors and officers of the Company and the members
of the Lithium Group that is substantially similar to the directors’ and officers’ insurance policies and programs of Parent as in effect as of the Trigger Time, subject to such adjustments to such directors’ and officers’
insurance policies and programs as the Board of Directors of the Company may determine, in its sole discretion, are appropriate for the market capitalization, revenues and other characteristics of the Lithium Business following the Separation Date.

 ARTICLE IV 

FINANCIAL COVENANTS AND INFORMATION RIGHTS 

Section 4.01. Disclosure and Financial Controls. The Company agrees that, for so long as Parent is required to consolidate the
results of operations and financial position of the Company and any other members of the Lithium Group or to account for its investment in the Company under the equity method of accounting (determined in accordance with GAAP and consistent with SEC
reporting requirements) (the “Applicable Period”): 

  
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 (a) The Company will, and will cause each other member of the Lithium Group to, maintain, as
of and after the Separation Date, disclosure controls and procedures and internal control over financial reporting as defined in Exchange Act Rule 13a-15; the Company will cause each of its principal executive
and principal financial officers to sign and deliver certifications to the Company’s periodic reports and will include the certifications in the Company’s periodic reports, as and when required pursuant to Exchange Act Rule 13a-14 and Item 601 of Regulation S-K; the Company will cause its management to evaluate the Company’s disclosure controls and procedures and internal control over
financial reporting (including any change in internal control over financial reporting) as and when required pursuant to Exchange Act Rule 13a-15; the Company will disclose in its periodic reports filed with
the SEC information concerning the Company management’s responsibilities for and evaluation of the Company’s disclosure controls and procedures and internal control over financial reporting (including, without limitation, the annual
management report and attestation report of the Company’s independent auditors relating to internal control over financial reporting) as and when required under Items 307 and 308 of Regulation S-K and
other applicable SEC rules; and, without limiting the generality of the foregoing, the Company will, and will cause each member of the Lithium Group to, maintain as of and after the Separation Date disclosure controls and procedures that are
consistent in all respects with (or more robust than) such disclosure controls and procedures of Parent as in effect as of the Separation Date, in each case except as otherwise may be consented to by Parent in its sole discretion. 

(b) The Company will, and will cause each member of the Lithium Group organized in the U.S. to, maintain a fiscal year that commences and ends
on the same calendar days as Parent’s fiscal year commences and ends, and to maintain monthly and quarterly accounting periods that commence and end on the same calendar days as Parent’s monthly and quarterly accounting periods commence
and end. The Company will cause each member of the Lithium Group organized in any jurisdiction outside the U.S. to maintain a fiscal year that commences and ends on the same calendar days as the fiscal year of the members of the corresponding Parent
Group organized in such jurisdiction outside the U.S. commences and ends, and to maintain monthly and quarterly accounting periods that commence and end on the same calendar days as the monthly and quarterly accounting periods of members of the
corresponding Parent Group organized in such jurisdiction outside the U.S. commence and end. 
 (c) The Company and each of its Subsidiaries
and Affiliates will deliver to Parent an income statement and balance sheet on a monthly basis for the Company for such period in such format and detail as Parent shall request. The Company will be responsible for reviewing its results and data and
for informing Parent immediately of any post-closing adjustments that come to its attention. 
 (d) For each annual and quarterly accounting
period after the Separation Date, the Company shall deliver to Parent, in accordance with the Financial Reporting Timeline, drafts of (A) the consolidated financial statements of the Company Group (and notes thereto) for such periods and, in
the case of each quarterly period, for the period from the beginning of the current fiscal year to the end of such quarter, setting forth in each case in comparative form for each such fiscal year or quarter of the Company the

  
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consolidated figures (and notes thereto) for the corresponding year or quarter, as applicable, and other periods of the previous fiscal year and all in reasonable detail and prepared in
accordance with Article 10 of Regulation S-X and GAAP, and (B) a discussion and analysis by management of the Lithium Group’s financial condition and results of operations for such fiscal period,
including, without limitation, an explanation of any material period-to-period change and any off-balance sheet transactions, all
in reasonable detail and prepared in accordance with Regulation S-K. The information set forth in (A) and (B) above is referred to in this Agreement as the “Financial Statements.” In
accordance with the Financial Reporting Timeline, the Company shall deliver to Parent the final form of the applicable Financial Statements and certifications thereof by the principal executive officer and the principal financial officer of the
Company in substantially the forms required under SEC rules for periodic reports and in form and substance satisfactory to Parent; provided, however, that the Company may continue to revise such Financial Statements prior to the filing
thereof in order to make corrections, updates and changes which corrections, updates and changes shall (i) if substantive, be delivered by the Company to Parent as soon as practicable, and in any event not less than twenty-four (24) hours
prior to the filing of such Financial Statements with the SEC and (ii) in all other cases, be delivered by the Company to Parent as soon as practicable after making any such corrections, updates or changes; provided, further, that
Parent’s and the Company’s financial representatives shall actively consult with each other regarding any changes (whether or not substantive) which the Company may consider making to its Financial Statements and related disclosures prior
to any anticipated filing with the SEC, with particular focus on any changes that would have an effect upon Parent’s financial statements or related disclosures. 

(e) Without limiting the Company’s obligations with respect to the Financial Statements pursuant to Section 4.01(d), each annual and
quarterly accounting period after the Separation Date, the Company shall deliver to Parent, in accordance with the Financial Reporting Timeline, an income statement and balance sheet and supplemental data related to cash flows and other necessary
disclosures for such applicable period in such format and detail as Parent may request. 
 (f) Without limiting the Company’s
obligations with respect to the Financial Statements pursuant to Section 4.01(d), in accordance with the Financial Reporting Timeline, the Company will deliver to Parent, not later than fifteen (15) Business Days prior to the date Parent
has notified the Company that it intends to file any applicable annual or quarterly financial statements (the “Parent Financial Statements”), any financial and other information and data with respect to the Lithium Group and its
business, properties, financial position, results of operations and prospects as is reasonably requested by Parent in connection with the preparation of the applicable Parent Financial Statements and annual and quarterly reports on Form 10-K and Form 10-Q, as applicable. 
 (g) The Company will deliver
to Parent all quarterly and annual financial statements of each Company Affiliate which is itself required to file financial statements with the SEC or otherwise make such financial statements publicly available, with such financial statements to be
provided in the same manner and detail and on the same time schedule as Financial Statements required to be delivered to Parent pursuant to Section 4.01(d). 

  
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 (h) All information provided by any member of the Lithium Group to Parent or filed with the
SEC pursuant to Section 4.01(c) through (g) inclusive will be consistent in terms of format and detail and otherwise with Parent’s policies with respect to the application of GAAP and practices in effect on the Separation Date with
respect to the provision of such financial information by such member of the Lithium Group to Parent (and, where appropriate, as presently presented in financial reports to the Parent Board), with such changes therein as may be requested by Parent
from time to time consistent with changes in such accounting principles and practices. Notwithstanding anything to the contrary in this Section 4.01, the Company will not file any applicable Financial Statements with the SEC prior to the time
that Parent files the corresponding Parent Financial Statements with the SEC unless otherwise required by applicable Law. 
 (i) No later
than ten (10) Business Days prior to the taking of any action, or the failure to take any action, or the date of occurrence of any facts or circumstances known to the Company or any member of the Lithium Group, or as soon as practicable in the
event of any unplanned actions or circumstances, in each case that would be reasonably likely to give rise to an obligation of Parent or any member of the Parent Group to file with the SEC a Current Report on Form
8-K, the Company shall deliver to Parent all information and data with respect to such action, or such facts or circumstances, as Parent may reasonably request in connection with the preparation of
Parent’s Current Report on Form 8-K. 
 Section 4.02. Information Rights. For the
Applicable Period and without limiting any of the rights and obligations of the parties pursuant to Section 4.01, the Company will deliver to Parent as soon as practicable such financial and other information and data with respect to the
Lithium Group and its business, properties, financial positions, results of operations and prospects as from time to time may be reasonably requested by Parent. Without limiting the foregoing: 

(a) the Company shall, and shall cause each member of the Lithium Group that files information with the SEC to, deliver to Parent
(i) substantially final drafts, as soon as the same are prepared, of (x) all reports, notices and proxy and information statements to be sent or made available by such Lithium Group member to its respective security holders, (y) all
regular, periodic and other reports to be filed or furnished under Sections 13, 14 and 15 of the Exchange Act (including reports on Forms 10-K, 10-Q and 8-K and annual
reports to shareholders), and (z) all registration statements and prospectuses to be filed by the Company or any member of the Lithium Group with the SEC or any securities exchange pursuant to the listed company manual (or similar requirements)
of such exchange (collectively, the documents identified in clauses (x), (y) and (z) are referred to in this Agreement as “Company Public Documents”); and (ii) as soon as practicable, but in no event later than ten
(10) Business Days (other than with respect to Form 8-Ks) prior to the earliest of the dates the same are printed, sent or filed, current drafts of all such Company Public Documents and, with respect to
Form 8-Ks, as soon as practicable; provided, however, that the Company may continue to revise such Company 

  
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Public Documents prior to the filing thereof in order to make corrections and non-substantive changes which corrections and changes will be delivered by
the Company to Parent as soon as practicable; provided, further, that Parent and the Company financial representatives will actively consult with each other regarding any changes (whether or not substantive) which the Company may
consider making to any of its Company Public Documents and related disclosures prior to any anticipated filing with the SEC, with particular focus on any changes which would have an effect upon the Parent Financial Statements or related disclosures;
and 
 (b) the Company shall, as promptly as practicable and in accordance with the Financial Reporting Timeline, deliver to Parent copies
of all annual budgets and financial projections (consistent in terms of format and detail mutually agreed upon by the parties) relating to the Company on a consolidated basis and will provide Parent an opportunity to meet with management of the
Company to discuss such budgets and projections. 
 Section 4.03. Press Releases. For the Applicable Period, the Company and
Parent will consult with each other as to the timing of their annual and quarterly earnings releases and any interim financial guidance for a current or future period and will give each other the opportunity to review the information therein
relating to the Lithium Group and to comment thereon. Parent and the Company will make reasonable efforts to issue their respective annual and quarterly earnings releases at approximately the same time on the same date. Parent and the Company shall
coordinate the timing of their respective earnings release conference calls such that the Company shall be permitted to hold such calls prior to those of Parent. No later than 72 hours prior to the time and date that a party intends to publish its
regular annual or quarterly earnings release or any financial guidance for a current or future period, such party will deliver to the other party copies of substantially final drafts of all related press releases and other statements to be made
available by any member of that party’s Group to employees of any member of that party’s Group (other than, for the avoidance of doubt, employees participating in the preparation or review thereof) or to the public concerning any matters
that could be reasonably likely to have a material financial impact on the earnings, results of operations, financial condition or prospects of any Lithium Group member. In addition, prior to the issuance of any such press release or public
statement that meets the criteria set forth in the preceding two sentences, the issuing party will consult with the other party regarding any changes (other than typographical or other similar minor changes) to such substantially final drafts.
Immediately following the issuance thereof, the issuing party will deliver to the other party copies of final versions of all press releases and other public statements. For the Applicable Period, the Company shall consult with Parent prior to
issuing any press releases or otherwise making public statements with respect to the Transactions and prior to making any filings with any Governmental Authority with respect thereto. 

Section 4.04. Cooperation on Parent Filings. For the Applicable Period, the Company will cooperate fully, and cause the Company
Auditors to cooperate fully, with Parent to the extent requested by Parent in the preparation of Parent’s public earnings or other press releases, quarterly reports on Form 10-Q, annual reports to
shareholders, annual reports on Form 10-K, any current reports on Form 8-K and any other proxy, 

  
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information and registration statements, reports, notices, prospectuses and any other filings made by Parent with the SEC, any national securities exchange or otherwise made publicly available
(collectively, the “Parent Public Filings”). The Company agrees to provide to Parent all information that Parent reasonably requests in connection with any Parent Public Filings or that, in the judgment of Parent, is required to be
disclosed or incorporated by reference therein under any Law, rule or regulation. The Company will provide such information in a timely manner on the dates requested by Parent (which may be earlier than the dates on which the Company otherwise would
be required hereunder to have such information available) to enable Parent to prepare, print and release all Parent Public Filings on such dates as Parent may reasonably determine but in no event later than as required by applicable Law. The Company
will use its commercially reasonable efforts to cause the Company Auditors to consent to any reference to them as experts in any Parent Public Filings required under any Law, rule or regulation. If and to the extent requested by Parent, the Company
will diligently and promptly review all drafts of such Parent Public Filings and prepare in a diligent and timely fashion any portion of such Parent Public Filing pertaining to the Company. Unless required by Law, rule or regulation, the Company
will not publicly release any financial or other information which conflicts with the information with respect to the Company or any member of the Lithium Group or the Lithium Business that is included in any Parent Public Filing without
Parent’s prior written consent. Prior to the release or filing thereof, Parent will provide the Company with a draft of any portion of a Parent Public Filing containing information relating to the Lithium Group and will give the Company an
opportunity to review such information and comment thereon; provided that Parent will determine in its sole and absolute discretion the final form and content of all Parent Public Filings. 

Section 4.05. Auditors and Audits; Annual Statements and Accounting. For the Applicable Period (provided that the
Company’s obligations pursuant to Section 4.05(d) and Section 4.05(e) shall continue beyond the Applicable Period to the extent any amendments to, or restatements or modifications of, Parent Public Filings are necessary with respect
to the Applicable Period): 
 (a) Unless required by Law, the Company will not select a different accounting firm than KPMG (or its affiliate
accounting firms) (unless so directed by Parent in accordance with a change by Parent in its accounting firm) to serve as its (and the Company Affiliates’) independent certified public accountants (“Company Auditors”) without
Parent’s prior written consent; provided, however, that, to the extent any such Company Affiliates are currently using a different accounting firm to serve as their independent certified public accountants, such Company Affiliates
may continue to use such accounting firm provided such accounting firm is reasonably satisfactory to Parent. 
 (b) The Company will use its
reasonable best efforts to enable the Company Auditors to complete their audit or review (in the case of Parent’s quarterly financial statements) such that they will date their opinion or review on the applicable Financial Statements on the
same date that Parent’s independent certified public accountants (“Parent Auditors”) date their opinion or review on the corresponding Parent Financial Statements, and to enable Parent to meet its timetable for the printing,
filing and public dissemination of any Parent Financial Statements, all in accordance with Section 4.01 hereof and as required by applicable Law. 

  
 11 

 (c) The Company shall provide to Parent on a timely basis all information reasonably
required by Parent to meet Parent’s schedule for the preparation, printing, filing, and public dissemination of the Parent Financial Statements in accordance with Section 4.01 hereof and as required by applicable Law. Without limiting the
generality of the foregoing, the Company will provide all required financial information with respect to the Lithium Group to the Company Auditors in a sufficient and reasonable time and in sufficient detail to permit the Company Auditors to take
all steps and perform all reviews necessary to provide sufficient assistance to the Parent Auditors with respect to information to be included or contained in the Parent Financial Statements. 

(d) The Company will authorize the Company Auditors to make available to the Parent Auditors both the personnel who performed, or are
performing, the annual audit and quarterly reviews of the Company and work papers related to the annual audit and quarterly reviews of the Company, in all cases within a reasonable time prior to the Company Auditors’ opinion date, so that the
Parent Auditors are able to perform the procedures they consider necessary to take responsibility for the work of the Company Auditors as it relates to the Parent Auditors’ report on Parent’s statements, all within sufficient time to
enable Parent to meet its timetable for the printing, filing and public dissemination of the Parent Financial Statements. 
 (e) At
Parent’s request, the Company will provide the Parent Auditors with access to the books and records of the Company and the members of the Lithium Group so that Parent may conduct reasonable audits relating to the financial statements provided
by the Company under this Agreement as well as relating to the internal accounting controls and operations of the Lithium Group, including in the event Parent determines in good faith that there may be some inaccuracy in any financial statements of
the Company or any member of the Lithium Group provided to Parent pursuant to this Agreement or any deficiency in the internal accounting controls or operations of the Company or any member of the Lithium Group that could materially impact the
Parent Financial Statements. 
 (f) The Company will give Parent as much prior notice as reasonably practicable of, and consult with Parent
and, at Parent’s request, the Parent Auditors concerning, any proposed determination of, or any significant change in, the Company’s accounting estimates from those in effect on the Separation Date. The Company will not make any such
determination or change without Parent’s prior written consent if such a determination or change would be sufficiently material to be required to be disclosed in the Company’s or Parent’s financial statements as filed with the SEC or
otherwise publicly disclosed therein. Notwithstanding the foregoing, the Company shall make any changes in its accounting estimates that are requested by Parent in order for the Company’s accounting estimates to be consistent with those of
Parent. 

  
 12 

 (g) The Company shall not, without Parent’s prior written consent, make, or cause to be
made, any modification or change to the accounting practices or principles of the Company as in effect as of the Separation Date; provided that the Company shall make any changes in its accounting practices or principles that are requested by
Parent in order for the Company’s accounting practices and principles to be consistent with those of Parent. 
 (h) The Company will
report in reasonable detail to Parent the following events or circumstances promptly after any executive officer of the Company or any member of the Company Board becomes aware of such matter: (A) all significant deficiencies and material
weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Company’s ability to record, process, summarize and report financial information; (B) any fraud, whether
or not material, that involves management or other employees who have a significant role in the Company’s internal control over financial reporting; (C) any illegal act within the meaning of Section 10A(b) and (f) of the Exchange
Act; and (D) any report of a material violation of Law that an attorney representing any Lithium Group member has formally made to any officers or directors of the Company pursuant to the SEC’s attorney conduct rules (17 C.F.R. Part 205).

 ARTICLE V 

ADDITIONAL TERMS 

Section 5.01. Applicability of Rights in the Event of an Acquisition of the Company. In the event the Company merges into,
consolidates, sells substantially all of its assets to or otherwise becomes an Affiliate of a Person (other than Parent), pursuant to a transaction or series of related transactions in which Parent or any member of the Parent Group receives equity
securities of such Person (or of any Affiliate of such Person) in exchange for Company Common Stock held by Parent or any member of the Parent Group, all of the rights of Parent set forth in this Agreement shall continue in full force and effect and
shall apply to the Person the equity securities of which are received by Parent pursuant to such transaction or series of related transactions (it being understood that all other provisions of this Agreement will apply to the Company notwithstanding
this Article V). The Company agrees that, without the consent of Parent, it will not enter into any Contract which will have the effect set forth in the first clause of the preceding sentence, unless such Person agrees to be bound by the foregoing
provision. 
 Section 5.02. Termination. This Agreement shall be effective as of the Separation Date and shall continue in full
force and effect until the earliest of (a) the date on which the parties hereto mutually agree in writing to terminate this Agreement and (b) the date on which all of the rights of Parent (or any Parent Transferee) pursuant to this
Agreement shall have expired in accordance with the terms hereof. Notwithstanding the foregoing sentence, any breach of any of the terms of this Agreement shall survive the time at which it would otherwise terminate pursuant to the preceding
sentence, and shall continue to be in full force and effect to the extent thereof for the applicable statute of limitations. 

  
 13 

 Section 5.03. Confidentiality. (a) Subject to Section 5.03(b), each of
Parent and the Company (each, a “Receiving Party”), on behalf of itself and each Person in its respective Group, agree (x) to hold, and to cause its respective directors, officers, employees, agents, accountants, counsel and
other advisors and representatives to hold in strict confidence, with at least the same degree of care that applies to the confidential and proprietary information of Parent pursuant to policies in effect as of the Separation Date, all Information
furnished pursuant to this Agreement by any party hereto or the members of its respective Group (such party, the “Disclosing Party”) to any Receiving Party or that is otherwise accessible to, in the possession of, or furnished to
the Receiving Party’s respective directors, officers, employees, agents, accountants, counsel and other advisors and representatives at any time pursuant to this Agreement or otherwise and (y) not to use any such Information for any
purpose other than in accordance with this Agreement, including for the purpose of trading in any securities of the Company or otherwise, except, in each case, to the extent that such Information (i) is or becomes part of the public domain
through no breach of this Agreement by the Receiving Party or any member of its Group, its respective directors, officers, employees, agents, accountants, counsel and other advisors and representatives, (ii) was independently developed
following the Separation Date by employees or agents of the Receiving Party or any Person in its respective Group, its respective directors, officers, employees, agents, accountants, counsel and other advisors and representatives who have not
accessed or otherwise received the applicable Information (provided that such independent development can be demonstrated by competent, contemporaneous written records of the Receiving Party or any Person in its respective Group), or
(iii) becomes available to the Receiving Party or any Person in its respective Group following the Separation Date on a non-confidential basis from a third party who is not bound directly or indirectly by
a duty of confidentiality to the Disclosing Party. 
 (b) In the event that the Receiving Party or any Person in its Group either determines
on the advice of its counsel that it is required to disclose any Information pursuant to applicable Law (including the rules and regulations of the SEC or any national securities exchange) or receives any request or demand from any Governmental
Authority to disclose or provide Information of the Disclosing Party (or any Person in the Disclosing Party’s Group) that is subject to the confidentiality provisions hereof, such party shall notify the other party prior to disclosing or
providing such Information and shall cooperate at the expense of such other party in seeking any reasonable protective arrangements (including by seeking confidential treatment of such Information) requested by such other party. Subject to the
foregoing, the Person that received such a request or determined that it is required to disclose Information may thereafter disclose or provide Information to the extent required by such Law (as so advised by counsel) or requested or required by
such Governmental Authority; provided, however, that such Person provides the other party, to the extent legally permissible, upon request with a copy of the Information so disclosed. 

(c) Upon the written request of a party, the other party shall promptly destroy any copies of such confidential or proprietary Information
(including any extracts therefrom) specifically identified by the requesting party to be destroyed. Upon the written request of such requesting party, the other party shall cause one of its duly authorized officers to certify in writing to such
requesting party that the requirements of the preceding sentence have been satisfied in full. 

  
 14 

 (d) Notwithstanding the foregoing, no provision of this Agreement, including this
Section 5.03, shall be interpreted or construed to in any manner limit or restrict the ability of Parent to disclose any Information concerning the Company or the members of the Lithium Group or the Lithium Business, including Information in
Parent’s possession or which Parent is entitled to receive or have access to pursuant to the terms of this Agreement, to any third party in connection with (i) any potential transaction between Parent and such third party with respect to
Parent’s equity ownership of the Company (whether structured as a merger, sale or transfer of equity securities, sale of assets or otherwise) or (ii) a potential transaction with respect to Parent and such third party (whether structured
as a merger, sale or transfer of equity securities, sale of assets or otherwise) (any such transaction described in (i) or (ii), a “Parent Transaction”), or to use such Information described herein in connection with any Parent
Transaction, in each case subject to a customary confidentiality agreement between Parent and such third party in respect of such Parent Transaction. 

Section 5.04. Transfer of Parent’s Rights. Notwithstanding anything to the contrary in this Agreement, the
Separation Agreement or any Ancillary Agreement, Parent may transfer all or any portion of its rights under this Agreement to a transferee of any Company Common Stock from any member of the Parent Group (a “Parent Transferee”)
holding at least 10% of the Voting Stock. Parent shall give written notice to the Company of its transfer of rights under this Section 5.04 no later than thirty (30) days after Parent enters into a binding agreement for such transfer of
rights. Such notice shall state the name and address of the Parent Transferee and identify the amount of Voting Stock transferred and the scope of rights being transferred under this Section 5.04. In connection with any such transfer, the term
“Parent” as used in this Agreement shall, where appropriate to give effect to the assignment of rights and obligations hereunder to such Parent Transferee, be deemed to refer to such Parent Transferee. Parent and any Parent Transferee may
exercise the rights under this Agreement in such priority, as among themselves, as they shall agree upon among themselves, and the Company shall observe any such agreement of which it shall have notice as provided above. 

Section 5.05. Interpretation; Incorporation of Terms by Reference. This Agreement is an “Ancillary Agreement” as such
term is defined in the Separation and Distribution Agreement and shall be interpreted in accordance with the terms of the Separation and Distribution Agreement in all respects; provided that in the event of any conflict or inconsistency
between the terms of this Agreement and the terms of the Separation and Distribution Agreement in respect of the subject matter of this Agreement, the terms of this Agreement shall control in all respects. Sections 9.03, 9.04, 9.05, 9.06, 9.07
(other than 9.07(d)), 9.08, 9.09 (without limiting Section 5.04 in any respect), 9.10, 9.11, 9.12, 9.13, 9.15, 9.16 and 9.17 (subject to the immediately preceding sentence) of the Separation and Distribution Agreement shall each be incorporated
herein by reference, mutatis mutandis, as if set forth in full herein. 
 * * * * * 

  
 15 

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

			
	FMC CORPORATION
		
	By:	 	 
	 	 	Name:
	 	 	Title:
	
	LIVENT CORPORATION
		
	By:	 	 
	 	 	Name:
	 	 	Title:

  
 16EX-10.4

 Exhibit 10.4 

FORM OF TAX MATTERS AGREEMENT 

between 
 FMC CORPORATION 

and 
 LIVENT CORPORATION 

Dated as of [—], 2018 

 TABLE OF CONTENTS 

 
  

 

							
	 	 	 	  	PAGE	 
	Section 1.	 	Definitions.	  	 	1	 
	Section 2.	 	Sole Tax Sharing Agreement.	  	 	7	 
	Section 3.	 	Allocation of Taxes.	  	 	8	 
	Section 4.	 	Preparation and Filing of Tax Returns.	  	 	9	 
	Section 5.	 	Apportionment of Earnings and Profits and Tax Attributes.	  	 	11	 
	Section 6.	 	Utilization of Tax Attributes.	  	 	12	 
	Section 7.	 	Deductions and Reporting for Certain Awards.	  	 	13	 
	Section 8.	 	Tax Benefits.	  	 	13	 
	Section 9.	 	Certain Representations and Covenants.	  	 	14	 
	Section 10.	 	Protective Section 336(e) Elections.	  	 	18	 
	Section 11.	 	Indemnities.	  	 	18	 
	Section 12.	 	Payments.	  	 	19	 
	Section 13.	 	Guarantees.	  	 	20	 
	Section 14	 	Communication and Cooperation.	  	 	20	 
	Section 15.	 	Audits and Contest.	  	 	22	 
	Section 16.	 	Costs and Expenses.	  	 	22	 
	Section 17.	 	Effectiveness; Termination and Survival.	  	 	22	 
	Section 18.	 	Dispute Resolution.	  	 	23	 
	Section 19.	 	Authorization, Etc.	  	 	23	 
	Section 20.	 	Change in Tax Law.	  	 	23	 
	Section 21.	 	Principles.	  	 	23	 
	Section 22.	 	Interpretation; Incorporation of Terms by Reference.	  	 	24	 

  
 i 

 FORM OF TAX MATTERS AGREEMENT 

This TAX MATTERS AGREEMENT (the “Agreement”) is entered into as of [●], 2018 between FMC Corporation
(“Parent”), a Delaware corporation, on behalf of itself and the members of the Parent Group, and Livent Corporation (“Livent”), a Delaware corporation, on behalf of itself and the members of the Lithium Group. 

WITNESSETH: 
 WHEREAS, pursuant
to the Tax laws of various jurisdictions, certain members of the Lithium Group presently file certain Tax Returns on an affiliated, consolidated, combined, unitary, fiscal unity or other group basis (including as permitted by Section 1501 of
the Code) with certain members of the Parent Group; 
 WHEREAS, Parent and Livent have entered into a Separation and Distribution Agreement,
dated as of the date hereof, as amended, modified or supplemented from time to time (the “Separation and Distribution Agreement”), pursuant to which the Contribution, the Distribution, the Separation Payment and other related
transactions will be consummated; 
 WHEREAS, the Pre-IPO Restructuring Transactions, together with
the Contribution, the Distribution and the Separation Payment are intended to qualify for the Intended Tax-Free Treatment; and 

WHEREAS, Parent and Livent desire to set forth their agreement on the rights and obligations of Parent, Livent and the members of the Parent
Group and the Lithium Group respectively, with respect to (A) the administration and allocation of federal, state, local and foreign Taxes incurred in Taxable periods beginning prior to the Distribution Date, as defined below, (B) Taxes
arising prior to, at the time of, and subsequent to the IPO, or resulting from the Distribution and transactions effected in connection with the Distribution and (C) various other Tax matters. 

NOW, THEREFORE, in consideration of the mutual covenants and agreements hereinafter set forth, the parties agree as follows: 

Section 1.    Definitions. 

(a)    For the purposes of this Agreement the following terms shall have the following meanings; provided that
capitalized terms used but not otherwise defined in this Section 1 shall have the respective meanings ascribed to such terms in the Separation and Distribution Agreement:  

“Active Trade or Business” has the meaning ascribed to the Lithium Business in the Separation and Distribution Agreement.

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

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

  
 1 

 “Applicable Law” (or “Applicable Tax Law,” as the case may
be) means, with respect to any Person, any federal, state, county, municipal, local, multinational or foreign statute, treaty, law, common law, ordinance, rule, regulation, order, writ, injunction, judicial decision, decree, permit or other legally
binding requirement of any Governmental Authority applicable to such Person or any of its respective properties, assets, officers, directors, employees, consultants or agents (in connection with such officer’s, director’s, employee’s,
consultant’s or agent’s activities on behalf of such Person). 
 “Business Day” has the meaning set forth in the
Separation and Distribution Agreement. 
 “Closing of the Books Method” means the apportionment of items between portions
of a Taxable period based on a closing of the books and records on the close of the Distribution Date (in the event that the Distribution Date is not the last day of the Taxable period, as if the Distribution Date were the last day of the Taxable
period), subject to adjustment for items accrued on the Distribution Date that are properly allocable to the Taxable period following the Distribution, as determined by Parent in accordance with Applicable Law; provided that Taxes not based
upon or measured by net or gross income or specific events shall be apportioned between the Pre- and Post-Distribution Periods on a pro rata basis in accordance with the number of days in each Taxable
period. 
 “Code” has the meaning set forth in the Separation and Distribution Agreement. 

“Combined Group” means any group that filed or was required to file (or will file or be required to file) a Tax Return on an
affiliated, consolidated, combined, unitary, fiscal unity or other group basis (including as permitted by Section 1501 of the Code) that includes at least one member of the Parent Group and at least one member of the Lithium Group. 

“Combined Income Tax Return” means a Tax Return filed in respect of federal, state, local or foreign Income Taxes for a
Combined Group. 
 “Company” means Parent or Livent (or the appropriate member of each of their respective Groups), as
appropriate. 
 “Contribution” has the meaning set forth in the Separation and Distribution Agreement. 

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

“Distribution Effective Time” means the time established by Parent as the effective time of the Distribution, New York time,
on the Distribution Date. 
 “Distribution Taxes” means any Taxes incurred solely as a result of the failure of the
Intended Tax-Free Treatment of the Pre-IPO Restructuring Transactions, Contribution, the Distribution or the Separation Payment. 

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

“Due Date” has the meaning set forth in Section 12(a). 

  
 2 

 “Equity Interests” means any stock or other securities treated as equity
for Tax purposes, options, warrants, rights, convertible debt, or any other instrument or security that affords any Person the right, whether conditional or otherwise, to acquire stock or to be paid an amount determined by reference to the value of
stock. 
 “Escheat Payment” means any payment required to be made to a Governmental Authority pursuant to an abandoned
property, escheat or similar law. 
 “Existing GRAs” has the meaning set forth on Schedule A to this Agreement. 

“Final Determination” means (i) a decision, judgment, decree, or other order by any court of competent jurisdiction,
which has become final, (ii) any final determination of liability in respect of a Tax that, under Applicable Tax Law, is not subject to further appeal, review or modification through proceedings or otherwise, or (iii) the payment of any
Tax by any member of the Parent Group or any member of the Lithium Group, whichever is responsible for payment of such Tax under Applicable Tax Law, with respect to any item disallowed or adjusted by a Taxing Authority; provided, that the
provisions of Section 15 hereof have been complied with, or, if such section is inapplicable, that the Company responsible under this Agreement for such Tax is notified by the Company paying such Tax that it has determined that no action should
be taken to recoup such disallowed item, and the other Company agrees with such determination. 
 “Foreign Livent
Subsidiary” means any member of the Lithium Group that is a “controlled foreign corporation” (as defined in Section 957 of the Code) with respect to which any member of the Parent Group is a “United States
shareholder” (as defined in Section 951(b) of the Code) during the Taxable year of Parent that includes the Distribution Date. 

“Governmental Authority” has the meaning set forth in the Separation and Distribution Agreement. 

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

“Income Tax” means any U.S. federal, state, local or foreign Tax that is, in whole or in part, based on or measured by net
income or gains. 
 “Indemnifying Party” means the party from which another party is entitled to seek indemnification
pursuant to the provisions of Section 11. 
 “Indemnitee” means the party which is entitled to seek indemnification
from another party pursuant to the provisions of Section 11. 
 “Intended Tax-Free
Treatment” means the qualification of (i) the Contribution and the Distribution, taken together (a) as a reorganization described in Sections 355(a) and 368(a)(1)(D) of the Code, (b) as a transaction in which the stock
distributed thereby is “qualified property” for purposes of Sections 355(c) and 361(c) of the Code, (c) as a transaction in which Parent will recognize no income or gain for U.S. federal income tax purposes with respect to the
Separation Payment by reason of Sections 355 and 361 of the Code and (d) as a transaction in which Parent, the Company and the holders of Parent Common Stock recognize no income or gain for U.S. federal income tax purposes pursuant to Sections
355, 361 and 1032 of the Code, other than, in the 

  
 3 

 
case of Parent and the Company, intercompany items or excess loss accounts taken into account pursuant to the Treasury Regulations promulgated pursuant to Section 1502 of the Code and
(ii) the transactions described on Schedule A as being free from Tax to the extent set forth therein. 
 “Interim
Period” means any Taxable period (or portion thereof) beginning after December 31, 2017 and ending on or before the date that is the last date on which Livent qualifies as a member of the Parent Group. 

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

“IRS” means the United States Internal Revenue Service. 

“Joint Tax Return” means any (i) Combined Income Tax Return or (ii) Tax Return that includes Income Tax Items
attributable to both the Parent Business and the Lithium Business. 
 “Lithium Business” has the meaning set forth in the
Separation and Distribution Agreement. 
 “Lithium Group” has the meaning set forth in the Separation and Distribution
Agreement. 
 “Livent Carried Item” means any Tax Attribute of the Lithium Group that may or must be carried from one
Taxable period to another prior Taxable period, or carried from one Taxable period to another subsequent Taxable period, under the Code or other Applicable Tax Law. 

“Livent Common Stock” has the meaning set forth in the Separation and Distribution Agreement. 

“Livent Compensatory Equity Interests” means any options, stock appreciation rights, restricted stock, stock units or other
rights with respect to the capital stock of Livent that are granted on or prior to the Distribution Effective Time by any member of the Lithium Group in connection with employee, independent contractor or director compensation or other employee
benefits. 
 “Livent Disqualifying Action” means (a) any action (or the failure to take any action) by any member of
the Lithium Group after the Distribution Effective Time (including entering into any agreement, understanding or arrangement or any negotiations with respect to any transaction or series of transactions), (b) any event (or series of events) after
the Distribution Effective Time involving the capital stock of Livent or any assets of any member of the Lithium Group or (c) any breach by any member of the Lithium Group after the Distribution Effective Time of any representation, warranty or
covenant made by them in this Agreement that, in each case, would affect the Intended Tax-Free Treatment; provided, however, that the term “Livent Disqualifying Action”
shall not include any action entered into pursuant to any Transaction Document (other than this Agreement) or that is undertaken pursuant to the Contribution, the Distribution or the Separation Payment. 

  
 4 

 “Livent Separate Income Tax Return” means any Income Tax Return that is
required to be filed by, or with respect to, any member of the Lithium Group that is not a Combined Income Tax Return. 

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

“Non-Income Tax” means any Tax that is not an Income Tax. 

“Parent Business” has the meaning set forth in the Separation and Distribution Agreement. 

“Parent Compensatory Equity Interests” means any options, stock appreciation rights, restricted stock, stock units or other
rights with respect to Parent stock that are granted on or prior to the Distribution Date by any member of the Parent Group in connection with employee, independent contractor or director compensation or other employee benefits (including, for the
avoidance of doubt, options, stock appreciation rights, restricted stock, restricted stock units, performance share units or other rights issued in respect of any of the foregoing by reason of the Distribution or any subsequent transaction). 

“Parent Group” has the meaning set forth in the Separation and Distribution Agreement. 

“Parent Separate Income Tax Return” means any Income Tax Return that is required to be filed by, or with respect to, a member
of the Parent Group that is not a Combined Income Tax Return. 
 “Parent” has the meaning ascribed thereto in the preamble.

 “Past Practices” has the meaning set forth in Section 4(c)(i). 

“Person” has the meaning set forth in Section 7701(a)(1) of the Code. 

“Post-2017 Period” means any Taxable period beginning after December 31, 2017. 

“Post-Distribution Period” means any Taxable period (or portion thereof) beginning after the Distribution Date. 

“Pre-2018 Period” means any Taxable period ending on or before December 31,
2017. 
 “Pre-Distribution Period” means any Taxable period (or portion thereof)
ending on or before the Distribution Date. 
 “Pre-IPO Restructuring Transactions”
has the meaning set forth in the Separation and Distribution Agreement. 
 “Section 336(e) Election” has
the meaning set forth in Section 10(a). 
 “Section 9(b)(iv)(F) Acquisition Transaction” has the
meaning set forth in Section 9(b)(iv)(F). 

  
 5 

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

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

“Tax Arbiter” has the meaning set forth in Section 20. 

“Tax Attribute” means a net operating loss, net capital loss, unused investment credit, unused foreign tax credit, excess
charitable contribution, unused general business credit, alternative minimum tax credit or any other Tax Item that could reduce a Tax liability. 

“Tax Benefit Recipient” has the meaning set forth in Section 8(c). 

“Tax Benefit” means any refund, credit, offset or other reduction in
otherwise required Tax payments. 
 “Tax Counsel” means Davis Polk & Wardwell LLP. 

“Tax Item” means any item of income, gain, loss, deduction, credit, recapture of credit or any other item that can increase
or decrease Taxes paid or payable. 
 “Tax Opinion” has the meaning set forth in the Separation and Distribution Agreement.

 “Tax Proceeding” means any Tax audit, dispute, examination, contest, litigation, arbitration, action, suits, claim,
cause of action, review, inquiry, assessment, hearing, complaint, demand, investigation or proceeding (whether administrative, judicial or contractual). 

“Tax Representation Letters” means the representations provided by Livent and Parent to Tax Counsel in connection with the
rendering by Tax Counsel of the Tax Opinion. 
 “Tax Return” means any Tax return, statement, report, form, election, bill,
certificate, claim or surrender (including estimated Tax returns and reports, extension requests and forms, and information returns and reports), or statement or other document or written information filed or required to be filed with any Taxing
Authority, including any amendment thereof, appendix, schedule or attachment thereto. 
 “Tax” (and the correlative
meaning, “Taxes,” “Taxing” and “Taxable”) means (i) any tax, including any net income, gross income, gross receipts, recapture, alternative or add-on
minimum, sales, use, business and occupation, value-added, trade, goods and services, ad valorem, franchise, profits, net wealth, license, business royalty, withholding, payroll, employment, capital, excise, transfer, recording, severance, stamp,
occupation, premium, property, asset, real estate acquisition, environmental, custom duty, impost, obligation, assessment, levy, tariff or other tax, governmental fee or other like assessment or charge of any kind whatsoever (including, but not
limited to, any Escheat Payment), together with any interest and any penalty, addition to tax or additional amount imposed by a Taxing Authority; or (ii) any 

  
 6 

 
liability of any member of the Parent Group or the Lithium Group for the payment of any amounts described in clause (i) as a result of any express or implied obligation to indemnify any
other Person. 
 “Taxing Authority” means any Governmental Authority (domestic or foreign), including, without limitation,
any state, municipality, political subdivision or governmental agency, responsible for the imposition, assessment, administration, collection, enforcement or determination of any Tax. 

“Tax-Related Losses” means, with respect to any Taxes imposed pursuant to any
settlement, determination, judgment or otherwise, (i) all accounting, legal and other professional fees, and court costs incurred in connection with such Taxes, as well as any other out-of-pocket costs incurred in connection with such Taxes and (ii) all damages, costs, and expenses associated with stockholder litigation or controversies and any amount paid by any member of the
Parent Group or any member of the Lithium Group in respect of the liability of shareholders, whether paid to shareholders or to the IRS or any other Taxing Authority, in each case, resulting from the failure of the Intended Tax-Free Treatment of the Pre-IPO Restructuring Transactions, the Contribution, the Distribution or the Separation Payment. 

“Transaction Documents” has the meaning set forth in the Separation and Distribution Agreement. 

“Transfer Taxes” means all U.S. federal, state, local or foreign sales, use, privilege, transfer, documentary, stamp, duties,
real estate transfer, controlling interest transfer, recording and similar Taxes and fees (including any penalties, interest or additions thereto) imposed upon any member of the Parent Group or any member of the Lithium Group in connection with the Pre-IPO Restructuring Transactions, the Contribution, the Distribution or the Separation Payment. 

(b)    Any term used in this Agreement which is not defined in this Agreement or the Separation and Distribution Agreement
shall, to the extent the context requires, have the meaning assigned to it in the Code or the applicable Treasury Regulations thereunder (as interpreted in administrative pronouncements and judicial decisions) or in comparable provisions of
Applicable Tax Law. 
 Section 2.    Sole Tax Sharing Agreement. Any and all existing Tax sharing agreements
or arrangements, written or unwritten, between any member of the Parent Group, on the one hand, and any member of the Lithium Group, on the other hand, if not previously terminated, shall be terminated as of the Separation Date without any further
action by the parties thereto. Following the Separation Date, no member of the Lithium Group or the Parent Group shall have any further rights or liabilities thereunder, and, except for Section 8.06(c) of the Separation and Distribution
Agreement, Section 9.02 of the Employee Matters Agreement, Section 3.04 of the Transition Services Agreement, this Agreement shall be the sole Tax sharing agreement between the members of the Lithium Group on the one hand, and the members
of the Parent Group, on the other hand. 

  
 7 

 Section 3.    Allocation of Taxes. 

(a)    General Allocation Principles. Except as provided in Section 3(c), all Income
Taxes shall be allocated as follows: 
 (i)    Allocation of Income Taxes Reflected on Joint Tax
Returns. Parent shall be allocated all Income Taxes reported, or required to be reported, on any Joint Tax Return that any member of the Parent Group or Lithium Group files or is required to file under the Code or Applicable Law;
provided, however, that to the extent that any such Joint Tax Return includes any Tax Item attributable to (A) any member of the Lithium Group or (B) the Lithium Business, in each case, for any Post-2017 Period (including any
Interim Period), Livent shall be allocated all Income Taxes attributable to such Tax Items. 

(ii)    Allocation of Income Taxes Reflected on Separate Income Tax Returns. 

(A)    Parent shall be allocated all Taxes attributable to members of the Parent Group and reported, or
required to be reported, on a Parent Separate Income Tax Return (other than a Parent Separate Income Tax Return that is a Joint Tax Return). 

(B)    Livent shall be allocated all Taxes attributable to members of the Lithium Group and reported, or
required to be reported, on a Livent Separate Income Tax Return (other than a Livent Separate Income Tax Return that is a Joint Tax Return). 

(iii)    Allocation of Non-Income Taxes. Livent shall be
allocated all Non-Income Taxes attributable to the Lithium Business, and Parent shall be allocated all Non-Income Taxes attributable to the Parent Business. 

(iv)    Taxes Not Reported on Tax Returns. Livent shall be allocated any Tax attributable to any
member of the Lithium Group that is not required to be reported on a Tax Return, and Parent shall be allocated any Tax attributable to any member of the Parent Group that is not required to be reported on a Tax Return.  

(b)    Allocation Conventions. 

(i)    Income Taxes reported, or required to be reported, on any Joint Tax Return attributable to the
Lithium Business for all Interim Periods shall be allocated based on the hypothetical taxable income of the Lithium Group, determined as if it were a separate group from the Parent Group and all of the Lithium Business were included in such Lithium
Group. 
 (ii)    Any Tax Item of Livent or any member of the Lithium Group arising from a transaction
engaged in outside the ordinary course of business on the Distribution Date after the Distribution Effective Time shall be allocable to Livent and any such transaction by or with respect to Livent or any member of the Lithium Group occurring after
the Distribution Effective Time shall be treated for all Tax purposes (to the extent permitted by Applicable Tax Law) as occurring at the beginning of the day following the Distribution Date in accordance with the principles of Treasury Regulations

  
 8 

 
Section 1.1502-76(b) (assuming no election is made under Treasury Regulations Section 1.1502-76(b)(2)(ii)
(relating to a ratable allocation of a year’s Tax Items)); provided that the foregoing shall not include any action that is undertaken pursuant to the Contribution, the Distribution or the Separation Payment. 

(c)    Special Allocation Rules. Notwithstanding any other provision in this Section 3,
the following Taxes shall be allocated as follows: 
 (i)    Transfer Taxes. Transfer Taxes shall
be allocated 100% to Livent. 
 (ii)    Taxes Relating to Parent Compensatory Equity Interests.
Any Tax liability (including, for the avoidance of doubt, the satisfaction of any withholding Tax obligation) relating to the issuance, exercise, vesting or settlement of any Parent Compensatory Equity Interest shall be allocated in a manner
consistent with Section 9.02(b) of the Employee Matters Agreement. 
 (iii)    Distribution Taxes
and Tax-Related Losses. Any liability for Distribution Taxes and Tax-Related Losses resulting from a Livent Disqualifying Action shall be allocated in a manner
consistent with Section 11(a)(iii). 
 (iv)    Section 965 Taxes. Any installment payments
required to be made pursuant to the election made by a member of the Parent Group or a member of the Lithium Group (that was a member of such Lithium Group prior to the Separation Date) under Section 965(h) of the Code, and any adjustments
thereto, shall be allocated to Parent. 
 Section 4.    Preparation and Filing of Tax Returns. 

(a)    Responsibility for Preparing Returns. 

(i)    Parent Prepared Returns. Parent shall prepare, or cause to be prepared, all (i) Joint
Tax Returns and (ii) Parent Separate Income Tax Returns. To the extent that any member of the Lithium Group is included in any Joint Tax Return for a Taxable period that includes the Distribution Date, Parent shall include in such Joint Tax
Return the results of such member of the Lithium Group on the basis of the Closing of the Books Method to the extent permitted by Applicable Tax Law. If a member of the Lithium Group is responsible for the filing of any such Tax Return under
Applicable Tax Law, Parent shall, subject to the procedures set forth in Section 4(b), deliver such prepared Tax Return to Livent reasonably in advance of the applicable filing deadline. 

(ii)    Livent Prepared Returns. Livent shall prepare, or cause to be prepared, any Livent Separate
Income Tax Return (other than a Livent Separate Income Tax Return that is a Joint Tax Return) for any Interim Period. 

(iii)    Transfer Tax Returns. Livent shall prepare and file (or cause to be prepared and filed) all
Transfer Tax Returns. If required by Applicable Law, Parent shall, and shall cause its Affiliates to, cooperate in preparing and filing, and join in the execution of, any such Tax Returns. 

  
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 (b)    Cooperation. 

(i)    Determination of Responsible Party. Parent, in consultation with Livent, shall determine
which of them or their respective Affiliates is required to file any Joint Tax Return or Separate Income Tax Return under Applicable Tax Law. 

(ii)    Provision of Information; Timing. Livent shall maintain all necessary
information for Parent (or any of its Affiliates) to file any Tax Return that Parent is required or permitted to file under this Section 4, and shall provide to Parent all such necessary information in accordance with the Parent Group’s
past practice. 
 (iii)    Right to Review Livent Separate Income Tax Returns. Parent shall submit
to Livent, at Livent’s request, a draft of, and related workpapers for, any Livent Separate Income Tax Return that is a Joint Tax Return. Livent shall submit to Parent a draft of, and related workpapers for, any Livent Separate Income Tax
Return prepared by Livent, to the extent Livent is required, or permitted pursuant to Section 6(c), to carry back a Livent Carried Item from a Post-Distribution Period to a Joint Tax Return in respect of a
Pre-2018 Period or an Interim Period. The party responsible for preparing (or causing to be prepared) the relevant Tax Return shall (x) use its reasonable best efforts to make such portion of such Tax
Return available for review as required under this paragraph sufficiently in advance of the due date for filing of such Tax Return to provide the requesting party with a meaningful opportunity to analyze and comment on such Tax Return and
(y) use reasonable efforts to have such Tax Return modified before filing, taking into account the Person responsible for payment of the Tax (if any) reported on such Tax Return and whether the amount of Tax liability allocable to the
requesting party with respect to such Return is material. The parties shall attempt in good faith to resolve any issues arising out of the review of such Tax Return. 

(c)    Special Rules Relating to the Preparation of Tax Returns. 

(i)    General Rule. Except as provided in this Section 4(c)(i), Livent shall prepare (or cause
to be prepared) any Tax Return for which it is responsible under this Section 4 in accordance with past practices, accounting methods, elections or conventions (“Past Practices”) used by the members of the Parent Group
prior to the Distribution Date with respect to such Tax Return, and to the extent any items, methods or positions are not covered by Past Practices, as directed by Parent. 

(ii)    Consistency with Intended Tax-Free Treatment. All
Tax Returns that include any member of the Parent Group or any member of the Lithium Group shall be prepared in a manner that is consistent with the Intended Tax-Free Treatment. 

(iii)    Livent Separate Income Tax Returns. With respect to any Livent Separate Income Tax Return
for which Livent is responsible pursuant to this Agreement, Livent and the other members of the Lithium Group shall include such Tax Items in such Livent Separate Income Tax Return in a manner that is consistent with the inclusion of such Tax Items
in any related Tax Return for which Parent is responsible to the extent such Tax Items are allocated in accordance with this Agreement. 

  
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 (iv)    Election to File Joint Tax Returns.
Parent shall have the sole discretion to file any Joint Tax Return if the filing of such Tax Return is elective under Applicable Tax Law. Each member of the relevant Combined Group shall execute and file all applicable consents, elections and other
documents as may be required, appropriate or otherwise requested by Parent in connection with the filing of such Joint Tax Returns. 

(d)    Payment of Taxes. Parent shall pay (or cause to be paid) to the proper Taxing Authority the Tax shown as due
on any Tax Return for which a member of the Parent Group is responsible under this Section 4, and Livent shall pay (or cause to be paid) to the proper Taxing Authority the Tax shown as due on any Tax Return for which a
member of the Lithium Group is responsible under this Section 4. If any member of the Parent Group is required to make a payment to a Taxing Authority for Taxes allocated to Livent under Section 3, Livent shall pay the amount of such Taxes
to Parent in accordance with Section 11 and Section 12. If any member of the Lithium Group is required to make a payment to a Taxing Authority for Taxes allocated to Parent under Section 3, Parent shall pay the amount of such Taxes to
Livent in accordance with Section 11 and Section 12. 
 Section 5.    Apportionment of Earnings and
Profits and Tax Attributes.  
 (a)    Tax Attributes arising
in a Pre-Distribution Period will be allocated to (and the benefits and burdens of such Tax Attributes will inure to) the members of the Parent Group and the members of the Lithium Group in accordance with
Parent’s historical practice (including historical methodologies for making corporate allocations), the Code, Treasury Regulations, and any applicable state, local and foreign law, as determined by Parent in its sole discretion. 

(b)    Parent shall in good faith advise Livent as soon as reasonably practicable after the close of the relevant Taxable
period in which the Distribution occurs in writing of the portion, if any, of any earnings and profits, Tax Attributes, tax basis, overall foreign loss or other consolidated, combined or unitary attribute which Parent determines shall be allocated
or apportioned to the members of the Lithium Group under Applicable Tax Law. All members of the Lithium Group shall prepare all Tax Returns in accordance with such written notice. In the event of an adjustment to the earnings and profits, any Tax
Attributes, tax basis, overall foreign loss or other consolidated, combined or unitary attribute determined by Parent, Parent shall promptly notify Livent in writing of such adjustment. For the avoidance of doubt, Parent shall not be liable to any
member of the Lithium Group for any failure of any determination under this Section 5(b) to be accurate under Applicable Tax Law, provided such determination was made in good faith. 

(c)    Except as otherwise provided herein, to the extent that the amount of any earnings and profits, Tax Attributes, tax
basis, overall foreign loss or other consolidated, combined or unitary attribute allocated to members of the Parent Group or the Lithium Group pursuant to Section 5(b) is later reduced or increased by a Taxing Authority or as a result of a Tax
Proceeding, such reduction or increase shall be allocated to the Company to which such earnings and profits, Tax Attributes, tax basis, overall foreign loss or other consolidated, combined or unitary attribute was allocated pursuant to this
Section 5, as determined by Parent in good faith. 

  
 11 

 Section 6.    Utilization of Tax Attributes. 

(a)    Amended Returns. Any amended Tax Return or claim for a refund with respect to any member of the Lithium
Group may be made only by the party responsible for preparing the original Tax Return with respect to such member of the Lithium Group pursuant to Section 4. 

(b)    Parent Discretion. Livent hereby agrees that Parent shall be entitled to determine in its sole discretion
whether to (x) file or to cause to be filed any claim for a refund or adjustment of Taxes with respect to any Joint Tax Return in order to claim in any Pre-Distribution Period any Livent Carried Item,
(y) make or cause to be made any available elections to waive the right to claim in any Pre-Distribution Period, with respect to any Combined Income Tax Return, any Livent Carried Item, and (z) make
or cause to be made any affirmative election to claim in any Pre-Distribution Period any Livent Carried Item. Subject to Section 6(c), Livent shall submit a written request to Parent in order to seek
Parent’s consent with respect to any of the actions described in this Section 6(b).
 (c)    Livent
Carrybacks to Combined Income Tax Returns.  
 (i) Each member of the Lithium Group shall elect, to the extent
permitted by Applicable Tax Law, to forgo the right to carry back any Livent Carried Item from a Post-Distribution Period to any Joint Tax Return in respect of a Pre-2018 Period or an Interim Period, except to
the extent that (i) a member of the Lithium Group determines that it is required by Applicable Tax Law to carry back a Livent Carried Item to a Tax Return in respect of a Pre-2018 Period or an Interim
Period, in which case it shall notify Parent in writing of such determination at least 90 days prior to filing the Tax Return on which such carryback will be reflected or (ii) Parent consents to such carryback. If Parent disagrees with any
determination made by a member of the Lithium Group in respect of clause (i) of the preceding sentence, the parties shall resolve their disagreement pursuant to the procedures set forth in Section 20. Parent shall consider in good faith
any request by Livent to carry back a Livent Carried Item; provided, that Parent shall have no obligation to consent to any carryback that would reasonably be expected to result in a Tax refund to the Lithium Group that does not exceed
$500,000. 
 (ii) Any Tax refund arising from any carryback of any Livent Carried Item to a Joint Tax Return for any Pre-2018 or Interim Period shall be for Parent’s account, unless Parent consents otherwise, which consent may be subject to such conditions as Parent determines in its good faith discretion (including, for
example, Livent bearing all associated costs and expenses and retaining an accounting firm that is acceptable to Parent in connection therewith). 

(d) Carryforwards to Separate Income Tax Returns. If a portion or all of any Tax Attribute is allocated to a member of a Combined Group
pursuant to Section 5, and is carried forward or back to a Livent Separate Income Tax Return, any Tax Benefits arising from such carryforward shall be retained by the Lithium Group. If a portion or all of any Tax Attribute is allocated to a
member of a Combined Group pursuant to Section 5, and is carried forward or back to a Parent Separate Income Tax Return, any Tax Benefits arising from such carryforward or carryback shall be retained by the Parent Group. 

  
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 Section 7.    Deductions and Reporting for Certain Awards.

 (a)    Deductions. To the extent permitted by Applicable Tax Law, Income Tax deductions with respect to the
issuance, exercise, vesting or settlement after the Distribution Date of any Parent Compensatory Equity Interests or Livent Compensatory Equity Interests shall be claimed (A) in the case of an active officer or employee, solely by the Group
that employs such Person at the time of such issuance, exercise, vesting, or settlement, as applicable; (B) in the case of a former officer or employee, solely by the Group that was the last to employ such Person; and (C) in the case of a
director or former director (who is not an officer or employee or former officer or employee of a member of either Group), (x) solely by the Parent Group if such person was, at any time before or after the Distribution, a director of any member of
the Parent Group, and (y) in any other case, solely by the Lithium Group. 
 (b)    Withholding and
Reporting. All applicable withholding and reporting responsibilities (including all income, payroll or other Tax reporting related to income to any current or former employees) with respect to the issuance, exercise, vesting or settlement of any
Parent Compensatory Equity Interests or Livent Compensatory Equity Interests shall be the responsibility of the party to which such responsibility has been prescribed by Section 9.02(b) of the Employee Matters Agreement. Parent and Livent
acknowledge and agree that the parties shall cooperate with each other and with third-party providers to effectuate withholding and remittance of Taxes, as well as required Tax reporting, in a timely manner. 

Section 8.    Tax Benefits. 

(a)    Parent Tax Benefits. Parent shall be entitled to any Tax Benefits (including, in the case of any refund
received, any interest thereon actually received) received by any member of the Parent Group or any member of the Lithium Group, other than any Tax Benefits (or any amounts in respect of Tax Benefits) to which Livent is entitled pursuant to
Section 8(b). Livent shall not be entitled to any Tax Benefits received by any member of the Parent Group or the Lithium Group, except as set forth in Section 8(b). 

(b)    Livent Tax Benefits. Livent shall be entitled to any Tax Benefits (including, in the case of any refund
received, any interest thereon actually received) received by any member of the Parent Group or any member of the Lithium Group after the Distribution Date with respect to any Tax allocated to a member of the Lithium Group under this Agreement
(including, for the avoidance of doubt, any amounts allocated to Livent pursuant to Section 3(c)(iii)), other than any Tax Benefits resulting from a Livent Carried Item, which shall be governed by Section 6(c). 

(c)    A Company receiving (or realizing) a Tax Benefit to which another Company is entitled hereunder (a “Tax
Benefit Recipient”) shall pay over the amount of such Tax Benefit (including interest received from the relevant Taxing Authority, but net of any Taxes imposed with respect to such Tax Benefit and any other reasonable costs) within thirty
(30) days of receipt thereof (or from the due date for payment of any Tax reduced thereby); provided, however, that the other Company, upon the request of such Tax Benefit Recipient, shall repay the amount paid to the other Company (plus
any penalties, interest or other charges imposed by the relevant Taxing Authority) in the event that, as a result of a subsequent Final Determination, a Tax Benefit that gave rise to such payment is subsequently disallowed. 

  
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 Section 9.    Certain Representations and Covenants.

 (a)    Representations. 

(i)    Livent and each other member of the Lithium Group represents that as of the date hereof, and
covenants that as of the Distribution Date, there is no plan or intention: 
 (A)    to liquidate Livent
or to merge or consolidate any member of the Lithium Group with any other Person subsequent to the Distribution; 

(B)    to sell or otherwise dispose of any material asset of any member of the Lithium Group, except in the
ordinary course of business; 
 (C)    to take or fail to take any action in a manner that is
inconsistent with the written information and representations furnished by Livent to Tax Counsel in connection with the Tax Representation Letters or Tax Opinion; 

(D)    to repurchase stock of Livent other than in a manner that satisfies the requirements of
Section 4.05(1)(b) of IRS Revenue Procedure 96-30 (as in effect prior to the amendment of such Revenue Procedure by IRS Revenue Procedure 2003-48) and consistent
with any representations made to Tax Counsel in connection with the Tax Representation Letters; 

(E)    to take or fail to take any action in a manner that management of Livent knows, or should know, is
reasonably likely to contravene any Existing GRA or (ii) any agreement with a Taxing Authority entered into prior to the Distribution Date to which any member of the Lithium Group is a party; or 

(F)    to enter into any negotiations, agreements, or arrangements with respect to transactions or events
(including stock issuances, pursuant to the exercise of options or otherwise, option grants, the adoption of, or authorization of shares under, a stock option plan, capital contributions, or acquisitions, but not including the Distribution) that
could reasonably be expected to cause the Distribution to be treated as part of a plan (within the meaning of Section 355(e) of the Code) pursuant to which one or more Persons acquire directly or indirectly Livent stock representing a 50% or
greater interest within the meaning of Section 355(d)(4) of the Code. 
 (b)    Covenants. 

(i)    Livent shall not, and shall not permit any other member of the Lithium Group to, take or fail to
take any action that constitutes a Livent Disqualifying Action. 
 (ii)    Livent shall not, and shall
not permit any other member of the Lithium Group to, take or fail to take any action that is inconsistent with the information and representations furnished by Livent to Tax Counsel in connection with the Tax Representation Letters or Tax Opinion;

  
 14 

 (iii)    Livent shall not, and shall not permit any
other member of the Lithium Group to, take or fail to take any action in a manner that management of Livent knows, or should know, is reasonably likely to contravene any agreement with a Taxing Authority entered into prior to the Distribution Date
to which any member of the Lithium Group or the Parent Group is a party;
 (iv)    During the two-year period following the Distribution Date: 
 (A)    Livent shall
(v) maintain its status as a company engaged in the Active Trade or Business for purposes of Section 355(b)(2) of the Code, (w) not engage in any transaction that would result in it ceasing to be a company engaged in the Active Trade
or Business for purposes of Section 355(b)(2) of the Code, (x) cause each other member of the Lithium Group whose Active Trade or Business is relied upon for purposes of qualifying the Distribution for the Intended Tax-Free Treatment to maintain its status as a company engaged in such Active Trade or Business for purposes of Section 355(b)(2) of the Code and any such other Applicable Tax Law, (y) not engage in any
transaction or permit any other member of the Lithium Group to engage in any transaction that would result in a member of the Lithium Group described in clause (x) hereof ceasing to be a company engaged in the relevant Active Trade or Business
for purposes of Section 355(b)(2) of the Code or such other Applicable Tax Law, taking into account Section 355(b)(3) of the Code for purposes of each of clauses (v) through (y) hereof, and (z) not dispose of or permit a member
of the Lithium Group to dispose of, directly or indirectly, any interest in a member of the Lithium Group described in clause (x) hereof or permit any such member of the Lithium Group to make or revoke any election under Treasury Regulation Section 301.7701-3; 
 (B)    Livent shall not repurchase stock of
Livent in a manner contrary to the requirements of Section 4.05(1)(b) of IRS Revenue Procedure 96-30 (as in effect prior to the amendment of such Revenue Procedure by IRS Revenue Procedure 2003-48) or inconsistent with any representations made by Livent to Tax Counsel in connection with the Tax Representation Letters; 

(C)    Livent shall not, and shall not agree to, merge, consolidate or amalgamate with any other Person;

 (D)    Livent shall not, and shall not permit any other member of the Lithium Group to, or to agree
to, sell or otherwise issue to any Person any Equity Interests of Livent or of any other member of the Lithium Group (other than sales or issuances of Equity Interests of a member of the Lithium Group other than Livent to another member of the
Lithium Group); provided, however, that Livent may issue Equity Interests to the extent such issuances satisfy Safe Harbor VIII (relating to acquisitions in connection with a person’s performance of services) or Safe Harbor IX
(relating to acquisitions by a retirement plan of an employer) of Treasury Regulations Section 1.355-7(d); 

  
 15 

 (E)    Livent shall not, and shall not permit any other
member of the Lithium Group to (I) solicit any Person to make a tender offer for, or otherwise acquire or sell, the Equity Interests of Livent, (II) participate in or support any unsolicited tender offer for, or other acquisition, issuance
or disposition of, the Equity Interests of Livent or (III) approve or otherwise permit any proposed business combination or any transaction which, in the cause of clauses (I) or (II), individually or in the aggregate, together with any
transaction occurring within the four-year period beginning on the date which is two years before the Distribution Date and any other transaction which is part of a plan or series of related transactions (within the meaning of Section 355(e) of
the Code) that includes the Distribution, could result in one or more Persons acquiring (except for acquisitions that otherwise satisfy Safe Harbor VIII (relating to acquisitions in connection with a person’s performance of services) or Safe
Harbor IX (relating to acquisitions by a retirement plan of an employer) of Treasury Regulation Section 1.355-7(d)) directly or indirectly stock representing a 40% or greater interest, by vote or value,
in Livent (or any successor thereto) (any such transaction, a “Proposed Acquisition Transaction”); provided further that any clarification of, or change in, the statute or regulations promulgated under Section 355(e) of
the Code shall be incorporated in the restrictions in this clause (viii) and the interpretation thereof; 

(F)    if any member of the Lithium Group proposes to enter into any transaction or series of transactions
that is not a Proposed Acquisition Transaction but would be a Proposed Acquisition Transaction if the percentage reflected in the definition of Proposed Acquisition Transaction were 25% instead of 40% (a
“Section 9(b)(iv)(F) Acquisition Transaction”) or, to the extent Livent has the right to prohibit any Section 9(b)(iv)(F) Acquisition Transaction, proposes to permit any Section 9(b)(iv)(F) Acquisition
Transaction to occur, in each case, Livent shall provide Parent, no later than 10 Business Days following the signing of any written agreement with respect to the Section 9(b)(iv)(F) Acquisition Transaction, a written description of such
transaction (including the type and amount of Equity Interests of Livent to be issued in such transaction) and a certificate of the board of directors of Livent to the effect that the Section 9(b)(iv)(F) Acquisition Transaction is not a
Proposed Acquisition Transaction. 
 (G)    Livent shall not, and shall not permit any other member of
the Lithium Group to, amend its certificate of incorporation (or other organizational documents), or take any other action, whether through a stockholder vote or otherwise, affecting the voting rights of the Equity Interests of Livent (including,
without limitation, through the conversion of one class of Equity Interests of Livent into another class of Equity Interests of Livent). 

(v)    Livent shall not take or fail to take, or permit any other member of the Lithium Group to take or
fail to take, any action which prevents or could reasonably be expected to result in Tax treatment that is inconsistent with the Intended Tax-Free Treatment. 

  
 16 

 (vi)    With respect to any Foreign Livent Subsidiary,
Livent shall not, and shall not permit any other member of the Lithium Group to, for the period after the Distribution Date through December 31, 2019: 

(A)    make or change any Tax election, amend any Tax Return, change any method of Tax accounting or change
the Taxable period of any Foreign Livent Subsidiary for any Tax year for U.S. or foreign tax reporting purposes that includes the Distribution Date; 

(B)    cause or permit a distribution (within the meaning of Section 301 of the Code) to be made with
respect to the capital stock of any Foreign Livent Subsidiary; 
 (C)    make or cause to be made any
investment in U.S. property within the meaning of Section 956 of the Code; or 
 (D)    restructure
the business of any Foreign Livent Subsidiary or engage in any extraordinary transaction; 
 in each case, if such transaction would be
reasonably likely to (i) generate earnings and profits of the Foreign Livent Subsidiary (as determined under the Code) that is taxed at a rate materially lower than the statutory rate applicable to the Foreign Livent Subsidiary in the
applicable jurisdiction, (ii) give rise to any income to Parent or the Parent Group under Sections 951 or 951A of the Code or (iii) would otherwise adversely impact the amount of Parent or the Parent Group’s associated deemed-paid
foreign tax credits within the meaning of Section 902 of the Code. 
 (vii)    Livent shall, or
shall cause the relevant Lithium Subsidiary to, enter into new gain recognition agreements with respect to the Existing GRAs pursuant to Section 1.367(a)-8 of the Treasury Regulations so as to render an
exception set forth in Section 1.367(a)-8(k) available with respect to any “triggering event” arising by reason of the transactions contemplated by the Transaction Documents. Each such new gain
recognition agreement shall, to the extent consistent with the corresponding Existing GRA, contain an election under Section 1.367(a)-8(c)(2)(vi) to report any gain recognized under Section 1.367(a)-8(c)(1)(i) in the taxable year during which a gain recognition event occurs. 

(c)    Livent Covenants Exceptions. Notwithstanding the provisions of Section 9(b), Livent and the other
members of the Lithium Group may take any action that would reasonably be expected to be inconsistent with the covenants contained in (b), if either: (i) Livent notifies Parent of its proposal to take such action and Livent and Parent
obtain a ruling from the IRS to the effect that such action will not affect the Intended Tax-Free Treatment; provided, that Livent agrees in writing to bear any expenses associated with obtaining such a
ruling and; provided, further, that the Lithium Group shall not be relieved of any liability under Section 11(a) of this Agreement by reason of seeking or having obtained such a ruling; or (ii) Livent notifies Parent of its
proposal to take such action and obtains an unqualified opinion of counsel (A) from a Tax 

  
 17 

 
advisor recognized as an expert in federal income Tax matters and acceptable to Parent in its sole discretion, (B) on which Parent may rely and (C) to the effect that such action
“will” not affect the Intended Tax-Free Treatment; provided, that the Lithium Group shall not be relieved of any liability under Section 11(a) of this Agreement by
reason of having obtained such an opinion. 
 Section 10.    Protective Section 336(e)
Elections.  
 (a)    Section 336(e) Election. Pursuant to Treasury Regulations Sections 1.336-2(h)(1)(i) and 1.336-2(j), Parent and Livent agree that Parent shall make a timely protective election under Section 336(e) of the Code and the Treasury Regulations
issued thereunder for each member of the Lithium Group that is a domestic corporation for U.S. federal income Tax purposes with respect to the Distribution (a “Section 336(e) Election”). It is intended that a
Section 336(e) Election will have no effect unless the Distribution is a “qualified stock disposition,” as defined in Treasury Regulations Section 1.336(e)-1(b)(6), by reason of the
application of Treasury Regulations Section 1.336-1(b)(5)(i)(B) or Treasury Regulations Section 1.336-1(b)(5)(ii). 

(b)    Parent TRA. If any failure of the Intended Tax-Free Treatment of the
Contribution, the Distribution or the Separation Payment results in Taxes (including any Taxes attributable to the Section 336(e) Election) that are not allocated to Livent pursuant to Section 3, (i) Parent shall be entitled to periodic
payments from Livent equal to the product of (x) 85% of the Tax savings arising from the step-up in Tax basis resulting from the Section 336(e) Election and (y) the percentage of Taxes arising from
such failure that are not allocated to Livent pursuant to Section 3, and (ii) the parties shall negotiate in good faith the terms of a tax receivable agreement to govern the calculation of such payments; provided, that any such tax
savings in clause (i) shall be determined using a “with and without” methodology (treating any deductions or amortization attributable to the step-up in tax basis resulting from the
Section 336(e) Election as the last items claimed for any taxable year, including after the utilization of any carryforwards). Notwithstanding the foregoing, Parent may, at its sole discretion, waive its right to receive any and all payments
pursuant to this Section 10(b). 
 Section 11.    Indemnities. 

(a)    Livent Indemnity to Parent. Livent and each other member of the Lithium Group shall jointly and severally
indemnify Parent and the other members of the Parent Group against, and hold them harmless, without duplication, from: 

(i)    any Tax liability allocated to Livent pursuant to Section 3; 

(ii)    any Tax liability and Tax-Related Losses attributable to a
breach, after the Distribution Effective Time, by Livent or any other member of the Lithium Group of any representation or covenant contained in this Agreement. 

(iii)    any Distribution Taxes and Tax-Related Losses attributable
to a Livent Disqualifying Action (including, for the avoidance of doubt, any Taxes and Tax-Related Losses resulting from any action for which the conditions set forth in Section 9(c) are satisfied); and

  
 18 

 (iv)    all liabilities, costs, expenses (including,
without limitation, reasonable expenses of investigation and attorneys’ fees and expenses), losses, damages, assessments, settlements or judgments arising out of or incident to the imposition, assessment or assertion of any Tax liability or
damage described in (i), (ii) or (iii), including those incurred in the contest in good faith in appropriate proceedings relating to the imposition, assessment or assertion of any such Tax, liability or damage. 

(b)    Parent Indemnity to Livent. Except in the case of any liabilities described in Section 11(a), Parent
and each other member of the Parent Group will jointly and severally indemnify Livent and the other members of the Lithium Group against, and hold them harmless, without duplication, from: 

(i)    any Tax liability allocated to Parent pursuant to Section 3; and 

(ii)    all liabilities, costs, expenses (including, without limitation, reasonable expenses of
investigation and attorneys’ fees and expenses), losses, damages, assessments, settlements or judgments arising out of or incident to the imposition, assessment or assertion of any Tax liability or damage described in (i), including those
incurred in the contest in good faith in appropriate proceedings relating to the imposition, assessment or assertion of any such Tax, liability or damage; 

(c)    Discharge of Indemnity. Livent, Parent and the members of their respective Groups shall discharge their
obligations under Section 11(a) or Section 11(b) hereof, respectively, by paying the relevant amount in accordance with Section 12, within 30 Business Days of demand therefor or, to the extent such amount is required to be paid to a
Taxing Authority prior to the expiration of such 30 Business Days, at least 10 Business Days prior to the date by which the demanding party is required to pay the related Tax liability. Any such demand shall include a statement showing the amount
due under Section 11(a) or Section 11(b), as the case may be. Notwithstanding the foregoing, if any member of the Lithium Group or any member of the Parent Group disputes in good faith the fact or the amount of its obligation under
Section 11(a) or Section 11(b), then no payment of the amount in dispute shall be required until any such good faith dispute is resolved in accordance with Section 20 hereof; provided, however, that any amount not paid
within 30 Business Days of demand therefor shall bear interest as provided in Section 12. 
 (d)    Tax
Benefits. If an indemnification obligation of any Indemnifying party under this Section 11 arises in respect of an adjustment that makes allowable to an Indemnitee any Tax Benefit which would not, but for such adjustment, be allowable, then
any such indemnification obligation shall be an amount equal to (i) the amount otherwise due but for this Section 11(d), minus (ii) the reduction in actual cash Taxes payable by the Indemnitee in the taxable year such indemnification
obligation arises, determined on a “with and without” basis. 
 Section 12.    Payments. 

(a)    Timing. All payments to be made under this Agreement (excluding, for the avoidance of doubt, any payments to
a Taxing Authority described herein) shall be made in immediately available funds. Except as otherwise provided, all such payments will be due 30 

  
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Business Days after the receipt of notice of such payment or, where no notice is required, 30 Business Days after the fixing of liability or the resolution of a dispute (the “Due
Date”). Payments shall be deemed made when received. Any payment that is not made on or before the Due Date shall bear interest at the rate equal to the “prime” rate as published on such Due Date in the Wall Street Journal,
Eastern Edition, for the period from and including the date immediately following the Due Date through and including the date of payment. With respect to any payment required to be made under this Agreement, Parent has the right to designate, by
written notice to Livent, which member of the Parent Group will make or receive such payment. 
 (b)    Treatment of
Payments. To the extent permitted by Applicable Tax Law, any payment made by Parent or any member of the Parent Group to Livent or any member of the Lithium Group, or by Livent or any member of the Lithium Group to Parent or any member of the
Parent Group, pursuant to this Agreement, the Separation and Distribution Agreement or any other Transaction Document that relates to Taxable periods (or portions thereof) ending on or before the Distribution Date shall be treated by the parties
hereto for all Tax purposes as a distribution by Livent to Parent, or a capital contribution from Parent to Livent, as the case may be; provided, however, that any payment made pursuant to Section 2.08 of the Separation and Distribution
Agreement shall instead be treated as if the party required to make a payment of received amounts had received such amounts as agent for the other party; provided further that any payment made pursuant to Sections 3.01, 3.02, 3.03 and 3.04 of
the Transition Services Agreement shall instead be treated as a payment for services. In the event that a Taxing Authority asserts that a party’s treatment of a payment described in this Section 12(b) should be other than as required
herein, such party shall use its reasonable best efforts to contest such assertion in a manner consistent with Section 15 of this Agreement. 

(c)    No Duplicative Payment. It is intended that the provisions of this Agreement shall not result in a
duplicative payment of any amount required to be paid under the Separation and Distribution Agreement or any other Transaction Document, and this Agreement shall be construed accordingly. 

Section 13.    Guarantees. Parent or Livent, as the case may be, shall guarantee or otherwise perform the
obligations of each other member of the Parent Group or the Lithium Group, respectively, under this Agreement. 

Section 14.    Communication and Cooperation. 

(a)    Consult and Cooperate. Parent and Livent shall consult and cooperate (and shall cause each other member of
their respective Groups to consult and cooperate) fully at such time and to the extent reasonably requested by the other party in connection with all matters subject to this Agreement. Such cooperation shall include, without limitation: 

(i)    the retention, and provision on reasonable request, of any and all information including all books,
records, documentation or other information pertaining to Tax matters relating to the Lithium Group (or, in the case of any Tax Return of the Parent Group, the portion of such return that relates to Taxes for which the Lithium Group may be liable
pursuant to this Agreement), any necessary explanations of information, and access to personnel, until one year after the expiration of the applicable statute of limitation (giving effect to any extension, waiver or mitigation thereof); 

  
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 (ii)    the execution of any document that may be
necessary (including to give effect to Section 15) or helpful in connection with any required Tax Return or in connection with any audit, proceeding, suit or action; and 

(iii)    the use of the parties’ commercially reasonable efforts to obtain any documentation from a
Governmental Authority or a third party that may be necessary or helpful in connection with the foregoing. 

(b)    Provide Information. Except as set forth in Section 15, Parent and Livent shall keep each other
reasonably informed with respect to any material development relating to the matters subject to this Agreement. 

(c)    Tax Attribute Matters. Parent and Livent shall promptly advise each other with respect to any proposed Tax
adjustments that are the subject of an audit or investigation, or are the subject of any proceeding or litigation, and that may affect any Tax liability or any Tax Attribute (including, but not limited to, basis in an asset or the amount of earnings
and profits) of any member of the Lithium Group or any member of the Parent Group, respectively. 

(d)    Confidentiality and Privileged Information. Any information or documents provided under this Agreement shall
be kept confidential by the party receiving the information or documents, except as may otherwise be necessary in connection with the filing of required Tax Returns or in connection with any audit, proceeding, suit or action. Without limiting the
foregoing (and notwithstanding any other provision of this Agreement or any other agreement), (i) no member of the Parent Group or Lithium Group, respectively, shall be required to provide any member of the Lithium Group or Parent Group,
respectively, or any other Person access to or copies of any information or procedures other than information or procedures that relate solely to Livent, the business or assets of any member of the Lithium Group, or matters for which Livent or
Parent Group, respectively, has an obligation to indemnify under this Agreement, and (ii) in no event shall any member of the Parent Group or the Lithium Group, respectively, be required to provide any member of the Lithium Group or Parent
Group, respectively, or any other Person access to or copies of any information if such action could reasonably be expected to result in the waiver of any privilege. Notwithstanding the foregoing, in the event that Parent or Livent, respectively,
determines that the provision of any information to any member of the Lithium Group or Parent Group, respectively, could be commercially detrimental or violate any law or agreement to which Parent or Livent, respectively, is bound, Parent or Livent,
respectively, shall not be required to comply with the foregoing terms of this Section 14(d) except to the extent that it is able, using commercially reasonable efforts, to do so while avoiding such harm or consequence (and shall promptly
provide notice to Parent or Livent, to the extent such access to or copies of any information is provided to a Person other than a member of the Parent Group or Lithium Group (as applicable)). 

  
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 Section 15.    Audits and Contest. 

(a)    Notice. Each of Parent or Livent shall promptly notify the other in writing upon the receipt of any notice
of Tax Proceeding from the relevant Taxing Authority that may affect the liability of any member of the Lithium Group or the Parent Group, respectively, for Taxes under Applicable Law or this Agreement; provided, that a party’s right to
indemnification under this Agreement shall not be limited in any way by a failure to so notify, except to the extent that the indemnifying party is prejudiced by such failure 

(b)    Parent Control. Notwithstanding anything in this Agreement to the contrary but subject to
Section 15(d), Parent shall have the right to control all matters relating to any Tax Return, or any Tax Proceeding, with respect to any Tax matters of a Combined Group or any member of a Combined Group (as such). Parent shall have absolute
discretion with respect to any decisions to be made, or the nature of any action to be taken, with respect to any Tax matter described in the preceding sentence; provided, however, that to the extent that any Tax Proceeding relating to such a
Tax matter is reasonably likely to give rise to an indemnity obligation of Livent under Section 11 hereof, (i) Parent shall keep Livent informed of all material developments and events relating to any such Tax Proceeding described in this
proviso and (ii) at its own cost and expense, Livent shall have the right to participate in (but not to control) the defense of any such Tax Proceeding. 

(c)    Livent Assumption of Control; Non-Distribution Taxes. If Parent
determines that the resolution of any matter pursuant to a Tax Proceeding (other than a Tax Proceeding relating to Distribution Taxes) is reasonably likely to have an adverse effect on the Lithium Group with respect to any Post-Distribution Period,
Parent, in its sole discretion, may permit Livent to elect to assume control over disposition of such matter at Livent’s sole cost and expense; provided, however, that if Livent so elects, it will (i) be responsible for the payment
of any liability arising from the disposition of such matter notwithstanding any other provision of this Agreement to the contrary and (ii) indemnify the Parent Group for any increase in a liability and any reduction of a Tax asset of the
Parent Group arising from such matter. 
 (d)    Livent Participation; Distribution Taxes. Parent shall have the
right to control any Tax Proceeding relating to Distribution Taxes; provided, that Parent shall keep Livent fully informed of all material developments and shall permit Livent a reasonable opportunity to participate in the defense of the
matter. 
 Section 16.    Costs and Expenses. Except as expressly set forth in this Agreement, each
party shall bear its own costs and expenses incurred pursuant to this Agreement. For purposes of this Agreement, costs and expenses shall include, but not be limited to, reasonable attorneys’ fees, accountants’ fees and other related
professional fees and disbursements. For the avoidance of doubt, unless otherwise specifically provided in the Transaction Documents, all liabilities, costs and expenses incurred in connection with this Agreement by or on behalf of Livent or any
member of the Lithium Group in any Pre-Distribution Period shall be the responsibility of Parent and shall be assumed in full by Parent. 

Section 17.    Effectiveness; Termination and Survival. Except as expressly set forth in this Agreement, as
between Parent and Livent, this Agreement shall become effective upon the consummation of the Distribution. All rights and obligations arising hereunder shall survive until they are fully effectuated or performed; provided that,
notwithstanding anything in this 

  
 22 

 
Agreement to the contrary, this Agreement shall remain in effect and its provisions shall survive for one year after the full period of all applicable statutes of limitation (giving effect to any
extension, waiver or mitigation thereof) and, with respect to any claim hereunder initiated prior to the end of such period, until such claim has been satisfied or otherwise resolved. This agreement shall terminate without any further action at any
time before the Distribution upon termination of the Separation and Distribution Agreement. 

Section 18.    Dispute Resolution. In the event of any dispute relating to this Agreement, the parties shall
work together in good faith to resolve such dispute within 30 days. In the event that such dispute is not resolved, upon written notice by a party after such 30-day period, the matter shall be referred to a
U.S. Tax counsel or other Tax advisor of recognized national standing (the “Tax Arbiter”) that will be jointly chosen by Parent and Livent; provided, however, that, if Parent and Livent do not agree on the selection of the
Tax Arbiter after five (5) days of good faith negotiation, the Tax Arbiter shall consist of a panel of three U.S. Tax counsel or other Tax advisor of recognized national standing with one member chosen by Parent, one member chosen by Livent,
and a third member chosen by mutual agreement of the other members within the following ten (10)-day period. Each decision of a panel Tax Arbiter shall be made by majority vote of the members. The Tax Arbiter
may, in its discretion, obtain the services of any third party necessary to assist it in resolving the dispute. The Tax Arbiter shall furnish written notice to the parties to the dispute of its resolution of the dispute as soon as practicable, but
in any event no later than ninety (90) days after acceptance of the matter for resolution. Any such resolution by the Tax Arbiter shall be binding on the parties, and the parties shall take, or cause to be taken, any action necessary to
implement such resolution. All fees and expenses of the Tax Arbiter shall be shared equally by the parties to the dispute. If the parties are unable to find a Tax Arbiter willing to adjudicate the dispute in question and whom the parties, acting in
good faith, find acceptable, then the dispute shall be resolved in the manner set forth in Section 9.03 of the Separation and Distribution Agreement . 

Section 19.    Authorization, Etc. Each of the parties hereto hereby represents and warrants that it has the
power and authority to execute, deliver and perform this Agreement, that this Agreement has been duly authorized by all necessary corporate action on the part of such party, that this Agreement constitutes a legal, valid and binding obligation of
each such party, and that the execution, delivery and performance of this Agreement by such party does not contravene or conflict with any provision or law or of its charter or bylaws or any agreement, instrument or order binding on such party. 

Section 20.    Change in Tax Law. Any reference to a provision of the Code, Treasury Regulations or any other
Applicable Tax Law shall include a reference to any applicable successor provision of the Code, Treasury Regulations or other Applicable Tax Law. 

Section 21.    Principles. This Agreement is intended to calculate and allocate certain Tax liabilities of the
members of the Lithium Group and the members of the Parent Group to Livent and Parent (and their respective Groups), and any situation or circumstance concerning such calculation and allocation that is not specifically contemplated by this Agreement
shall be dealt with in a manner consistent with the underlying principles of calculation and allocation in this Agreement. 

  
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 Section 22.    Interpretation; Incorporation of Terms by
Reference. This Agreement is an “Ancillary Agreement” as such term is defined in the Separation and Distribution Agreement and shall be interpreted in accordance with the terms of the Separation and Distribution Agreement in all
respects; provided that in the event of any conflict or inconsistency between the terms of this Agreement and the terms of the Separation and Distribution Agreement in respect of the subject matter of this Agreement, the terms of this
Agreement shall control in all respects. Sections 9.04, 9.05, 9.06, 9.07 (other than 9.07(d)), 9.08, 9.09, 9.10, 9.11, 9.12, 9.13, 9.15, 9.16 and 9.17 (subject to the immediately preceding sentence) of the Separation and Distribution Agreement shall
each be incorporated herein by reference, mutatis mutandis, as if set forth in full herein. 
 [SIGNATURE PAGE FOLLOWS] 

  
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 IN WITNESS WHEREOF, the parties have executed and delivered this Agreement as of the day and
year first written above. 
  

			
	FMC on its own behalf and on behalf of the members of the Parent Group

 
			
		
	 By:
	 	 

 
			
	 Name:
	 	
	 Title:
	 	
	
	Livent on its own behalf and on behalf of the members of the Lithium Group

 
			
		
	 By:
	 	  

			
	 Name:
	 	
	 Title:
	 	

  
 [SIGNATURE PAGE TO
TAX MATTERS AGREEMENT]

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