Document:

Settlement Agreement and Release of Claims

 Exhibit 10.2 
 SETTLEMENT AGREEMENT AND RELEASE OF CLAIMS 
 This Settlement
Agreement and Release of Claims (the “Agreement”) is entered into by and between Michael A. Alrutz (the “Executive”) and Trimeris, Inc. (the “Company”). Collectively, the Executive and the Company are hereinafter
referred to as the “Parties.” 
 WHEREAS, the Executive has most recently been employed by the Company as its General
Counsel pursuant to an employment agreement dated January 24, 2008, as amended to date (the “Employment Agreement”); 
 WHEREAS, the Executive has ceased to be General Counsel as of November 18, 2010; and 
 WHEREAS, the Executive must sign and return this Agreement by December 22, 2010 and the Supplemental Release of Claims (the “Supplemental Release”), attached hereto as Exhibit A, no
earlier than close of business on the Termination Date (as defined below) and no later than three business days thereafter. 

NOW THEREFORE, in consideration of the promises contained herein, the receipt and sufficiency of which is hereby acknowledged by the
Parties, the Company and the Executive agree as follows: 
 1. Termination and Notice Period. The Executive’s
effective date of termination from the Company is January 17, 2011 or such earlier date as the Company and the Executive mutually agree is the last day of employment (the “Termination Date”). The period of time between the date the
Executive receives this Agreement and the Termination Date is defined as the Notice Period. Pursuant to Section 5(a)(i) of the Employment Agreement, the Company is placing the Executive on administrative leave for the duration of the Notice
Period, during which period the Executive will not have access to the Company’s electronic communications system, including, but not limited to, the Company’s voicemail and email systems, and the Executive is prohibited from conducting
business on behalf of the Company unless otherwise authorized to do so by the Company’s Chief Executive Officer. Notwithstanding the foregoing, the Executive agrees to be available by phone to assist the Company in transitioning his duties and
perform other tasks as requested by the Company during the Notice Period. During the Notice Period, the Company will continue to pay the Executive his base salary, less all applicable taxes and withholdings, make its matching contribution to the
Company’s 401(k) plan for 2010, and provide other customary benefits, as well as any customary monthly charges incurred for the Executive’s cellular phone during this period. Executive will receive his final regular pay check, together
with any accrued and unused vacation pay, as well as reimbursement for any substantiated but unreimbursed business expenses, on the Termination Date. 
 2. Description of Severance Benefits. Pursuant to Sections 6(d)(i), 6(d)(ii) and 6(e) of the Employment Agreement, and in return for the Executive’s timely

 
execution and return of this Agreement and the Supplemental Release, and his compliance with the terms of both agreements, the Company agrees to provide the Executive with the following severance
benefits: 
 (a) The Company will pay the Executive $180,264.00, less applicable taxes and withholdings,
which is an amount equivalent to 12 months of his current base salary rate (the “severance pay”). This severance pay shall be paid in one lump-sum payment in accordance with the Company’s normal payroll practices on the 60th day following the Termination Date. 

(b) The Executive shall be entitled to continue to be covered by the Company’s group medical and dental plans, if such plans then
exist, or any subsequent individual medical and dental insurance policy obtained by and covering the Executive, and the Company will pay the premiums for such coverage in an amount equal to the amount that it pays (or formerly paid, if that plan is
discontinued) on behalf of other employees who receive the same type of coverage until the earlier of the first anniversary of the Termination Date or the date he becomes covered under a subsequent employer’s medical or dental plan (as
applicable), but with the amount payable during this period not to exceed $25,000. Nothing in this Agreement requires the Company to maintain or provide any medical or dental coverage. 

3. Release of Claims. In partial consideration for the severance benefits, which the Executive acknowledges he would not otherwise
be entitled to receive, the Executive on behalf of himself and his successors, assigns, and agents hereby fully, forever, irrevocably and unconditionally releases, remises and forever discharges the Company and its predecessors, successors,
affiliates, subsidiaries, parent companies, and assigns, and all of its and their respective past and present agents, directors, officers, partners, members, donors, plan administrators, fiduciaries, insurers, attorneys and employees (collectively
“Releasees”) from any and all claims, charges, complaints, demands, actions, causes of action, suits, rights, debts, sums of money, costs, accounts, reckonings, covenants, contracts, agreements, promises, doings, omissions, damages,
executions, obligations, liabilities and expenses (including attorneys’ fees and costs), whether known or unknown, of every kind and nature that the Executive has ever had or now has against any or all of the Releasees, including, but not
limited to, any and all claims arising out of or relating to the Executive’s employment with the Company, including, but not limited to, all claims under Title VII of the Civil Rights Act of 1964, 42 U.S.C. § 2000e et seq.,
the Genetic Information and Nondiscrimination Act of 2008, 42 U.S.C. § 2000ff et seq., the Americans with Disabilities Act of 1990, 42 U.S.C. § 12101 et seq., the Family and Medical Leave Act, 29 U.S.C.
§ 2601 et seq., the Fair Credit Reporting Act, 15 U.S.C. § 1681 et seq., the Rehabilitation Act of 1973, 29 U.S.C. § 701 et seq., Executive Order 11246, Executive Order 11141, the
Employee Retirement Income Security Act of 1974 (“ERISA”), 19 U.S.C. § 1001 et seq., the North Carolina Equal Employment Practices Act, N.C. Gen. Stat. § 143-422.1 et seq., the North Carolina
Persons with Disabilities Protection Act, N.C. Gen. Stat. § 168A-1 et seq., the North Carolina Retaliatory Employment Discrimination Act, N.C. Gen. Stat. § 95-240 et seq., the North Carolina
Hazardous Chemicals Right to Know Act, N.C. Gen. Stat. § 95-173 et seq., and N.C. Gen. Stat. § 95-151 (North Carolina prohibition against discrimination 

  
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under the Occupational Safety and Health Act of North Carolina), all as amended; and all common law claims including, but not limited to, actions in tort, defamation, intentional infliction of
emotional distress, fraud, misrepresentation, wrongful discharge and breach of contract, including, but not limited to, any claims arising from or related to the Employment Agreement and any predecessor employment agreements entered into between the
Company and the Executive; and any claim or damage arising out of the Executive’s employment with the Company (including a claim for retaliation) under any common law theory or any federal, state or local statute or ordinance not expressly
referenced above; provided, however, that nothing in this Agreement prevents the Executive from filing a charge with, cooperating with, or participating in any proceeding before the EEOC or a state fair employment practices agency
(except that the Executive acknowledges that he may not recover any monetary benefits in connection with any such claim, charge or proceeding). 

The Company agrees that the Executive is not releasing any claims or rights that he may have for indemnification under state or other law or the charter
or by-laws of the Company, or under any indemnification agreement with the Company or under any insurance policy providing directors’ and officers’ coverage for any lawsuit or claim relating to the period when he was an officer of the
Company; provided, however, that (i) the Company’s execution of this Release is not a concession or acknowledgment that the Executive has any such rights to indemnification, (ii) this Release does not create for the Executive any
additional rights to indemnification, and (iii) the Company retains any and all defenses it may have to such indemnification or coverage. 
 4. Continuing Obligations. The Executive acknowledges and reaffirms his obligation to keep confidential and not to disclose any and all non-public information concerning the Company that he
acquired during the course of his employment with the Company, including, but not limited to, any non-public information concerning the Company’s business affairs, business prospects and financial condition, as is stated more fully in
Section 7 of the Employment Agreement, which section remains in full force and effect. The Executive also acknowledges and reaffirms his other obligations under Section 7 of the Employment Agreement, including, but not limited to, his
noncompetition and nonsolicitation obligations. 
 5. Return of Company Property. The Executive confirms that by
January 17, 2011 he will have returned to the Company in good working order all keys, files, records (and copies thereof), equipment (including, but not limited to, computer hardware, software and printers, pagers, etc.), Company
identification, Company confidential and proprietary information, Company vehicles and any other Company-owned property in his possession or control and will have left intact all electronic Company documents, including, but not limited to, those
which he developed or helped to develop during his employment. The Executive further confirms that by January 17, 2011 he will have cancelled all accounts for his benefit, if any, in the Company’s name, including but not limited to, credit
cards, telephone charge cards, cellular phone, wireless handheld device and/or pager accounts and computer accounts. Executive may retain his wireless handheld device subject to his removing and not retaining copies of any

  
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Company confidential and proprietary information on such device. The Company will pay any early termination fees related to transfer of the Executive’s wireless handheld device account from
the Company’s name to the Executive’s name as a part of the Executive’s final expense report. 
 6.
Confidentiality. To the extent permitted by law, the Executive and the Company understand and agree that the negotiations and discussions resulting in this Agreement and the Supplemental Release shall be maintained as confidential by the
Executive and his agents, representatives and immediate family members and by the Company, its Board members, and its officers and shall not be disclosed except to the extent required by federal or state law or as otherwise agreed to in writing by
the Company and the Executive. 
 7. Non-Disparagement. The Executive understands and agrees that he will not make any
false, disparaging or derogatory statements to any person or entity, including any media outlet, industry group, financial institution or current or former employee, partner, donor, consultant, client, or customer of the Company, regarding the
Company or any of the other Releasees or about the Company’s business affairs and financial condition; provided, however, that nothing herein prevents him from making truthful disclosures to any governmental entities where required by
applicable law. The Company agrees that the members of the Board and the officers of the Company will not make any false, disparaging or derogatory statements to any person or entity, including any media outlet, regarding the Executive’s
service with the Company; provided, however, that nothing herein prevents them from making truthful disclosures to any governmental entities where required by applicable law. 
 8. Nature of Agreement. The Executive understands and agrees that this Agreement and the Supplemental Release are a settlement agreement and do not constitute an admission of liability or
wrongdoing on the part of the Company. 
 9. Acknowledgements. The Executive acknowledges that he has been given at least
seven days to consider this Agreement and that the Company has advised him to consult with an attorney of his own choosing prior to signing this Agreement. 
 10. Voluntary Assent. The Executive affirms that no other promises or agreements of any kind have been made to or with him by any person or entity whatsoever to cause him to sign this Agreement or
the Supplemental Release, and that he fully understands the meaning and intent of this Agreement and the Supplemental Release. The Executive states and represents that he has had an opportunity to discuss fully and review the terms of this Agreement
and the Supplemental Release with an attorney. The Executive further states and represents that he has carefully read this Agreement and the Supplemental Release, understands the contents herein and therein, freely and voluntarily assents to all of
the terms and conditions hereof and thereof, and signs his name of his own free act. 

  
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 11. Validity. Should any provision of this Agreement or the Supplemental Release be
declared or be determined by any court of competent jurisdiction to be illegal or invalid, the validity of the remaining parts, terms or provisions shall not be affected thereby and said illegal or invalid part, term or provision shall be deemed not
to be a part of this Agreement or the Supplemental Release, as applicable. Notwithstanding the foregoing, if the Executive’s release and waiver pursuant to Section 3 of this Agreement or the Supplemental Release is found to be
unenforceable, the Executive agrees that he will either sign a valid release and waiver of claims in favor of the Releasees, as drafted by the Company, or promptly return the severance benefits he received. 

12. Governing Law. This Agreement and the Supplemental Release shall be interpreted and construed by the laws of the State of
North Carolina, without regard to conflict of laws provisions. 
 13. Amendment and Waiver. This Agreement and the
Supplemental Release shall be binding upon the Parties and may not be modified in any manner, except by an instrument in writing of concurrent or subsequent date signed by duly authorized representatives of the Parties hereto. This Agreement and the
Supplemental Release are binding upon and shall inure to the benefit of the Parties and their respective agents, assigns, heirs, executors, successors and administrators. No delay or omission by the Company in exercising any right under this
Agreement or the Supplemental Release shall operate as a waiver of that or any other right. A waiver or consent given by the Company on any one occasion shall be effective only in that instance and shall not be construed as a bar to or waiver of any
right on any other occasion. 
 14. Cooperation. The Executive agrees to cooperate fully with the Company in the defense,
prosecution and/or investigation of any claims or actions now in existence or that may be brought in the future against or on behalf of the Company. The Executive’s full cooperation in connection with such claims or actions shall include, but
not be limited to, being available to meet with the Company counsel to prepare for discovery and any administrative hearing, mediation, arbitration, trial or other proceeding, and to act as a witness when requested by the Company at reasonable times
and locations designated by the Company. The Company will pay or reimburse any reasonable expenses (other than attorneys’ fees) incurred and substantiated in connection with such cooperation, subject to a requirement that the Executive submit
adequate substantiation for such expenses within 60 days after they are incurred; the Company will pay or reimburse within 30 days after receipt of such substantiation. The Company and the Executive agree that the Company will compensate the
Executive for any time spent on such cooperation after the Termination Date, at an hourly rate to be mutually agreed by the parties. 
 15. Tax Provision. In connection with the consideration provided to the Executive pursuant to this Agreement and the Supplemental Release, the Company will withhold and remit to the tax authorities
the amounts required under applicable law, and the Executive shall be responsible for all applicable taxes with respect to such consideration under applicable law. The Executive acknowledges that he is not relying upon the advice or representation
of the Company with respect to the tax treatment of any of the consideration set forth above. 

  
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 16. Captions. The captions of the sections of this Agreement are for convenience of
reference only and in no way define, limit or affect the scope or substance of any section of this Agreement. 
 17. Entire
Agreement. This Agreement and the Supplemental Release contain and constitute the complete agreement between the Parties hereto with respect to the settlement of claims against the Company and cancels all previous oral and written negotiations,
agreements and commitments in connection therewith, including, but not limited to, the Employment Agreement; provided, however, that Sections 7, 11 and 13 will survive the termination of the Employment Agreement. 

IN WITNESS HEREOF, the Parties have executed this Agreement as of the dates indicated below. 

 

									
	Dated:	 	 12/22/10
	 		 	 /s/ Michael A. Alrutz

		 		 		 	Michael A. Alrutz
				
		 		 		 	TRIMERIS, INC.
				
	Dated:	 	 12/22/10
	 		 	 /s/ Martin Mattingly

		 		 		 	By:	 	Martin Mattingly
		 		 		 	Title:	 	Chief Executive Officer

  
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 EXHIBIT A 
 SUPPLEMENTAL RELEASE OF CLAIMS 
 In further consideration of the severance
benefits described in the Settlement Agreement and Release of Claims to which this Supplemental Release of Claims is attached, which the Executive acknowledges he would not otherwise be entitled to receive, the Executive on behalf of himself and his
successors, assigns, and agents hereby fully, forever, irrevocably and unconditionally releases, remises and forever discharges the Company and its predecessors, successors, affiliates, subsidiaries, parent companies, and assigns, and all of its and
their respective past and present agents, directors, officers, partners, members, donors, plan administrators, fiduciaries, insurers, attorneys and employees (collectively “Releasees”) from any and all claims, charges, complaints, demands,
actions, causes of action, suits, rights, debts, sums of money, costs, accounts, reckonings, covenants, contracts, agreements, promises, doings, omissions, damages, executions, obligations, liabilities and expenses (including attorneys’ fees
and costs), whether known or unknown, of every kind and nature that the Executive has ever had or now has against any or all of the Releasees, including, but not limited to, any and all claims arising out of or relating to the Executive’s
employment with and/or separation from the Company, including, but not limited to, all claims under Title VII of the Civil Rights Act of 1964, 42 U.S.C. § 2000e et seq., the Genetic Information and Nondiscrimination Act of 2008,
42 U.S.C. § 2000ff et seq., the Americans with Disabilities Act of 1990, 42 U.S.C. § 12101 et seq., the Family and Medical Leave Act, 29 U.S.C. § 2601 et seq., the Fair Credit Reporting
Act, 15 U.S.C. § 1681 et seq., the Rehabilitation Act of 1973, 29 U.S.C. § 701 et seq., Executive Order 11246, Executive Order 11141, the Employee Retirement Income Security Act of 1974 (“ERISA”),
19 U.S.C. § 1001 et seq., the North Carolina Equal Employment Practices Act, N.C. Gen. Stat. § 143-422.1 et seq., the North Carolina Persons with Disabilities Protection Act, N.C. Gen.
Stat. § 168A-1 et seq., the North Carolina Retaliatory Employment Discrimination Act, N.C. Gen. Stat. § 95-240 et seq., the North Carolina Hazardous Chemicals Right to Know Act, N.C. Gen.
Stat. § 95-173 et seq., and N.C. Gen. Stat. § 95-151 (North Carolina prohibition against discrimination under the Occupational Safety and Health Act of North Carolina), all as amended; and all common law claims including, but
not limited to, actions in tort, defamation, intentional infliction of emotional distress, fraud, misrepresentation, wrongful discharge and breach of contract, including, but not limited to, any claims arising from or related to the Employment
Agreement and any predecessor employment agreements entered into between the Company and the Executive; and any claim or damage arising out of the Executive’s employment with and/or separation from the Company (including a claim for
retaliation) under any common law theory or any federal, state or local statute or ordinance not expressly referenced above; provided, however, that nothing in this Agreement prevents the Executive from filing a charge with,
cooperating with, or participating in any proceeding before the EEOC or a state fair employment practices agency (except that the Executive acknowledges that he may not recover any monetary benefits in connection with any such claim, charge or
proceeding). 

  
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 The Company agrees that the Executive is not releasing any claims or rights that he may have
for indemnification under state or other law or the charter or by-laws of the Company, or under any indemnification agreement with the Company or under any insurance policy providing directors’ and officers’ coverage for any lawsuit or
claim relating to the period when he was an officer of the Company; provided, however, that (i) the Company’s execution of this Release is not a concession or acknowledgment that the Executive has any such rights to indemnification,
(ii) this Release does not create for the Executive any additional rights to indemnification, and (iii) the Company retains any and all defenses it may have to such indemnification or coverage. 

The Executive acknowledges that he has been reimbursed by the Company for all business expenses incurred in conjunction with the
performance of his employment and that no other reimbursements are owed to him. The Executive further acknowledges that he has received payment in full for all services rendered in conjunction with his employment by the Company and that no other
compensation, including wages, bonuses, severance and accrued unused vacation, is owed to him, except as specified in Section 2 of the Settlement Agreement and Release of Claims. 

The Executive acknowledges that he has been given at least seven days to consider this Supplemental Release and that the Company advised
him to consult with an attorney of his own choosing prior to signing this Supplemental Release. 
  

 
 I hereby provide this release of
claims as of the current date and acknowledge that the execution of this Supplemental Release is in further consideration of the severance benefits set forth in Section 2 of the Settlement Agreement and Release of Claims, to which I acknowledge
I would not be entitled if I did not sign this Supplemental Release. 
  

					
	  
	 		 	  

	Michael A. Alrutz	 		 	Date

 To be signed and returned no later than
three business days following the Termination Date; provided, however, that it may not be signed before close of business on the Termination Date (as defined in the Settlement Agreement and Release of Claims). 

  
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 Exhibit 10.1 
 TRANSITION AGREEMENT 
 THIS TRANSITION AGREEMENT (the
“Agreement”) is entered into by and between THEODORE BUTZ (“You”) and FMC CORPORATION (the “Company”), a Delaware corporation, on December 22, 2010 (the “Effective Date”).
Mr. Butz and the Company are referred to collectively herein as the “Parties.” 
 WHEREAS, you have served
the Company in a position of substantial authority and responsibility; 
 WHEREAS, your employment with the Company will cease
on February 28, 2011 (the “Termination Date”); and 
 WHEREAS, you and the Company desire to document your
rights and obligations in connection with your cessation of employment. 
 NOW, THEREFORE, in consideration of the promises and
the mutual agreements contained herein, the Parties agree as follows: 
  

	1.	Term. 

 The Company agrees
to employ you, and you agree to remain in employment with the Company, from the Effective Date until the Termination Date (the “Term”). During the Term, you will perform such duties as may reasonably be requested of you by the
Company. Such duties may differ from your existing duties, so long as they are commensurate with your status as a Vice President of the Company. On the Termination Date, your service to the Company will terminate and you will be deemed to have
resigned as of the Termination Date from any and all positions you hold with the Company or any affiliated entity. 
  

	2.	Compensation During Term. 

During the Term, your compensation will not change, provided that no further equity awards will be granted to you and you will not
participate in any annual or long-term incentive programs in respect of for any period beginning on or after January 1, 2011. 
  

	3.	Compensation Upon Conclusion of the Term. 

 Following the conclusion of the Term, you will receive the payments, rights and benefits described in this Section 3; provided that the payments, rights and benefits described in this Section 3
are all subject to your compliance with all the terms of this Agreement (including, without limitation, Section 4 below) and are in lieu of, not in addition to, severance benefits under any other Company arrangement. 

 

	 	(a)	 Survival and Continued Vesting of Otherwise Unvested Stock Options. The stock options listed in Section 1 of Exhibit A will remain
outstanding and will become exercisable as scheduled in the ordinary course through the first anniversary of the Termination Date, notwithstanding your cessation of employment. Once exercisable, those options will remain exercisable until
February 19, 2013, 

	 	 
notwithstanding your prior cessation of employment; provided that those options will remain subject to early termination provisions contained in the applicable plan and/or award agreement that
relate to changes in control, reorganizations, liquidations or similar business transactions or events. 

  

	 	(b)	Survival of Vested Options. The stock options listed in Section 2 of Exhibit A will remain exercisable until the first anniversary of the Termination
Date, notwithstanding your cessation of employment; provided that those options will remain subject to early termination provisions contained in the applicable plan and/or award agreement that relate to changes in control, reorganizations,
liquidations or similar business transactions or events. 

  

	 	(c)	Performance-Based Cash Incentives. Notwithstanding the otherwise applicable terms governing the Company’s 2009-2011 and 2010-2012 performance-based cash
incentive programs, you will remain eligible to receive a pro-rata payment under such programs, determined as follows: 

  

	 	(1)	the amount of performance based cash otherwise payable to you under such programs (but for your cessation of employment) will be determined by the Company in the
ordinary course, based on actual corporate performance for the relevant performance period; 

  

	 	(2)	each amount determined under clause (1), above, will be multiplied by a fraction to reflect your employment for less than the entire performance period. With respect to
the 2009-2011 performance period, the fraction will be 72%. With respect to the 2010-2012 performance period, the fraction will be 39%; and 

  

	 	(3)	each amount determined under clause (2), above, will be paid to you within two and one-half months following the end of the applicable performance period.

  

	 	(d)	Restricted Stock Units. The restricted stock units (“RSUs”) held by you will vest, and the shares underlying such RSUs will be delivered, in
accordance with the terms of the applicable award agreements. For purposes of those agreements, your cessation of employment with the Company will be deemed a termination by the Company “without Cause.” 

 

	 	(e)	 Severance Payment. The Company will pay you a cash lump-sum severance payment of $732,728.701 on March 15, 2011. 

 
  

	1	 1 x (2010 base salary and 2010 target bonus) 

  
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	 	(f)	COBRA Premium Waiver. The Company will waive a portion of the applicable premium otherwise payable for COBRA continuation coverage for you (and, to the extent
covered by the Company’s group health and dental plan immediately prior to the Termination Date, your eligible dependents) for the 12 month period following your Termination Date, which portion will be equal to the difference between
(A) the applicable monthly premium otherwise payable for COBRA continuation coverage and (B) the monthly group health and dental plan contributions required of active employees as in effect from time to time. 

 

	 	(g)	Vacation. You will receive a payment in respect of your earned but unused vacation time as of the Termination Date, paid in accordance with the Company’s
normal payroll practices and policies. 

  

	 	(h)	Other Benefits. You will be eligible to receive: 

  

	 	(1)	executive outplacement services at a cost not to exceed $25,000; 

  

	 	(2)	financial and tax planning services at a cost not to exceed $5,000; 

  

	 	(3)	three sessions with a communications coach at a total cost not to exceed $5,000; and 

 

	 	(4)	legal services incurred in connection with this Agreement, at a total cost not to exceed $5000. 

The Company will pay or reimburse the cost of these services within 90 days following the submission of proper receipts, provided such
receipts are submitted within 90 days after the costs are incurred and provided further that the costs are incurred no later than June 30, 2012. 
  

	4.	Release of Claims. 

 The
payments and benefits described in Section 3 above are expressly conditioned on your execution and delivery to the Company, within three days following your Termination Date, of a release in the form attached hereto as Exhibit B (the
“Release”) and on that Release becoming irrevocable, provided however, that if you should predecease the Termination Date, your surviving spouse (or heirs, if she is also deceased) shall nevertheless be entitled to the payments and
benefits described in this Section 3, upon execution of a similar Release which releases the same claims against the Company that she or they may be entitled to bring on your behalf. 

 

	5.	Section 409A. 

 The
amounts payable under this Agreement are intended to be exempt from, or compliant with, the requirements of Section 409A of the Code and this Agreement should be interpreted accordingly. Any expense, reimbursement or in-kind benefit provided
pursuant to this Agreement that constitutes a “deferral of compensation” within the meaning of Section 409A of the Code will be subject to the requirements of Treas. Reg. § 1.409A-3(i)(iv)(3), (4) and (5). 

  
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	6.	Restrictive Covenants. To induce the Company to enter into this Agreement and in recognition of the compensation to be paid to you pursuant to Section 3 of
this Agreement, you agree to be bound by the provisions of this Section 6 (the “Restrictive Covenants”). 

  

	 	(a)	Covenant Not To Compete. You covenant that, during your remaining employment by the Company and for the 12 month period immediately following the Termination
Date (the “Restricted Period”), you will not (except in your capacity as an employee or director of the Company) do any of the following, directly or indirectly: 

 

	 	(1)	perform services in any capacity for, or undertake any venture together with, any Competing Business, unless previously approved by Company in writing;

  

	 	(2)	influence or attempt to influence any employee, consultant, supplier, licensor, licensee, contractor, agent, strategic partner, distributor, customer or other person to
terminate or modify any written or oral agreement, arrangement or course of dealing with the Company or any of its affiliates; or 

  

	 	(3)	solicit for employment or employ or retain (or arrange to have any other person or entity employ or retain) any person who has been employed or retained by the Company
or any of its affiliates within the 12 months immediately preceding such solicitation or retention. 

  

	 	(b)	Confidentiality. You recognize and acknowledge that the Proprietary Information (as defined below) is a valuable, special and unique asset of the business of the
Company and its affiliates. As a result, both during the Term and thereafter, you will not, without the prior written consent of the Company, for any reason divulge to any third-party or use for his own benefit, or for any purpose other than the
exclusive benefit of the Company and its affiliates, any Proprietary Information. Notwithstanding the foregoing, if you are compelled to disclose Proprietary Information by court order or other legal or regulatory process, to the extent permitted by
applicable law, you shall promptly so notify the Company so that it may seek a protective order or other assurance that confidential treatment of such Proprietary Information shall be afforded, and you will cooperate with the Company and its
affiliates in connection therewith. If you are obligated by court order or other legal process to disclose Proprietary Information, you will disclose only the minimum amount of such Proprietary Information as is necessary for you to comply with such
court order or other legal process. 

  

	 	(c)	Definitions. For purposes of this Agreement: 

 (1) “Competing Business” means any company that directly competes with a major product line within the Company’s Specialty Chemicals Group. 

  
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 (2) “Proprietary Information” means any and all proprietary information
developed or acquired by the Company or any of its subsidiaries or affiliates that has not been specifically authorized to be disclosed. Such Proprietary Information shall include, but shall not be limited to, the following items and information
relating to the following items: (a) all intellectual property and proprietary rights of the Company, (b) computer codes and instructions, processing systems and techniques, inputs and outputs (regardless of the media on which stored or
located) and hardware and software configurations, designs, architecture and interfaces, (c) business research, studies, procedures and costs, (d) financial data, (e) distribution methods, (f) marketing data, methods, plans and
efforts, (g) the identities of actual and prospective suppliers and customers, (h) the terms of contracts and agreements with, the needs and requirements of, and the Company’s or its affiliates’ course of dealing with, actual and
prospective suppliers and customers, (i) personnel information, (j) customer and vendor credit information, and (k) information received from third parties subject to obligations of non-disclosure or non-use. Failure by the Company or
its affiliates to mark any of the Proprietary Information as confidential or proprietary will not affect its status as Proprietary Information. 
 (d) Acknowledgements. You acknowledge that the Restrictive Covenants are reasonable and necessary to protect the legitimate interests of the Company and its affiliates, that the duration and scope
of the Restrictive Covenants are reasonable given the nature of this Agreement and your position within the Company. You further acknowledge that the Company would not have entered into this Agreement or agreed to provide the compensation described
herein absent your agreement to be bound by the Restrictive Covenants. 
 (e) Remedies and Enforcement. 

(1) Specific Enforcement. You acknowledge that any breach by you, willfully or otherwise, of the Restrictive Covenants will cause
continuing and irreparable injury to the Company or its affiliates for which monetary damages would not be an adequate remedy. You shall not, in any action or proceeding to enforce any of the provisions of this Agreement, assert the claim or defense
that such an adequate remedy at law exists. In the event of any such breach or threatened breach by you of any of the Restrictive Covenants, the Company or its affiliates, as applicable, shall be entitled to injunctive or other similar equitable
relief in any court, without any requirement that a bond or other security be posted, and this Agreement will not in any way limit remedies of law or in equity otherwise available to the Company and its affiliates. 

(2) Judicial Modification. If any court determines that any of the Restrictive Covenants, or any part thereof, is unenforceable
because of the duration or scope of such provision, such court shall have the power to modify such provision and, in its modified form, such provision will then be enforceable. 

(3) Accounting. If you breach any of the Restrictive Covenants, the Company or its affiliates, as applicable, will have the right
and remedy to require you to account for and pay over to the Company or its affiliates, as applicable, all compensation, profits, monies, accruals, increments or other benefits derived or received by you as the result of such breach. This right and
remedy will be in addition to, and not in lieu of, any other rights and remedies available to the Company and its affiliates under law or in equity. 

  
 -5-

 (4) Enforceability. If any court holds the Restrictive Covenants unenforceable by
reason of their breadth or scope or otherwise, it is the intention of the parties hereto that such determination not bar or in any way affect the right of the Company and its affiliates to the relief provided above in the courts of any other
jurisdiction within the scope of the Restrictive Covenants. 
 (5) Disclosure of Restrictive Covenants. You agree to
disclose the existence and terms of the Restrictive Covenants to any employer that you may work for during the Restricted Period. 
 (6) Extension of Restricted Period. If you breach Section 6(a) in any respect, the restrictions contained in that section will be extended for a period equal to the period that you were in
breach. 
  

	7.	Miscellaneous Provisions. 

  

	 	(a)	Withholding. All payments (or transfers of property) to you will be subject to tax withholding to the extent required by applicable law.

  

	 	(b)	Notices. Unless otherwise provided herein, any notice or other information to be provided to the Company will be delivered by hand or sent by overnight delivery,
return receipt requested, to: 

 FMC Corporation 

1735 Market Street 
 Philadelphia, PA 19103 
 Attn: General Counsel 

Any notice or other information to be provided to you will be delivered by hand or sent by overnight delivery, return receipt requested,
to your most recent address on file with the Company. 
  

	 	(c)	Nature of Agreement. You and the Company each have been represented by separate counsel and are entering into this Agreement voluntarily with a full
understanding of its terms. If an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the Parties and no presumption or burden of proof shall arise favoring or disfavoring either party
by virtue of the authorship of any of the provisions of this Agreement. In making this Agreement, the Parties warrant that they did not rely on any representations or statements other than those expressly contained in this Agreement.

  

	 	(d)	Entire Agreement. Except as otherwise herein provided, this Agreement, including all attachments hereto, constitutes the entire agreement between you and the
Company regarding the subject matter hereof and supersedes and cancels all prior agreements and understandings between you and the Company regarding these matters. 

  
 -6-

  

	 	(e)	Waivers. No modification or waiver of or amendment to any provision of this Agreement will be effective unless in writing and signed by you and an authorized
officer of the Company. A delay or failure by the Company to exercise any right that is the subject of this Agreement will not be construed as a waiver of that right. A waiver of a breach on any one occasion will not be construed as a waiver of any
other breach. 

  

	 	(f)	Governing Law. This Agreement will be interpreted, enforced and governed by the laws of the State of Delaware, without regard to the principles of conflicts of
laws. This Agreement will continue in effect until all obligations under it are fulfilled. If any part of this Agreement is held to be void or unenforceable, the remaining provisions shall continue with full force and effect. This Agreement is
binding on you and your legal representatives and the Company, its successors or assigns. 

  

	 	(g)	Counterparts. This Agreement may be executed in any number of counterparts each of which shall be an original, but all of which together shall constitute one
instrument. 

  

	 	(h)	Headings. The headings in this Agreement are for convenience only and shall not effect the interpretation of this Agreement. 

IN WITNESS WHEREOF, the Parties have each executed this Agreement on the day and year set forth below their respective signatures.

  

			
	FMC CORPORATION
		
	By:	 	 /s/ Kenneth Garrett

	(title)	 	Executive Vice President
	Date:	 	 December 22, 2010

	
	 /s/ Theodore Butz

	THEODORE BUTZ
		
	Date:	 	 December 22, 2010

  
 -7-

 Exhibit A 

EQUITY AWARDS 
 1.
Otherwise unvested Stock Options subject to continued vesting and extended post-termination exercise rights under Section 3(a): 
  

									
	 Date of Grant
	  	Number of Shares	  	Exercise Price	 	  	Date Vesting Will
Occur
	 February 19, 2009
	  	9,090	  	$	44.44	  	  	February 19, 2012

 2.
Currently vested Stock Options subject to extended post-termination exercise rights under Section 3(b): 
  

							
	 Date of Grant
	  	Number of Shares	  	Exercise Price	 
	 February 14, 2002
	  	37,320	  	$	17.00	  
	 March 3, 2003
	  	27,140	  	$	7.92	  
	 February 26, 2004
	  	15,832	  	$	18.98	  
	 February 17, 2005
	  	15,064	  	$	24.03	  
	 February 23, 2006
	  	12,554	  	$	31.28	  
	 February 15, 2007
	  	10,628	  	$	37.39	  
	 February 21, 2008
	  	  9,257	  	$	55.75	  

 Any stock option not listed on this
schedule and that is outstanding on the Termination Date will be forfeited at that time. 

  
 A-1

 Exhibit B 

RELEASE 
 THIS RELEASE is made by THEODORE BUTZ (the “Executive”) on this      day of March, 2011. 

WHEREAS, the Executive’s employment as an executive of FMC Corporation (the “Company”) has terminated; and

 WHEREAS, pursuant to the Transition Agreement by and between the Company and the Executive dated
            , 2010 (the “Agreement”), the Company has agreed to pay the Executive certain amounts and to provide him with certain rights and benefits, subject to his
execution of this Release. 
 NOW THEREFORE, in consideration of these premises and intending to be legally bound hereby: 

 

	1.	Consideration. The Executive acknowledges that: (a) the payments, rights and benefits set forth in Section 3 of the Agreement constitute full
settlement of all his rights under the Agreement, (b) he has no entitlement under any other severance or similar arrangement maintained by the Company, and (c) except as otherwise provided specifically in this Release, the Company does not
and will not have any other liability or obligation to the Executive. The Executive further acknowledges that, in the absence of his execution of this Release, the benefits and payments specified in Section 3 of the Agreement would not
otherwise be due to him. 

  

	2.	Release and Covenant Not to Sue. 

  

	 	(a)	The Executive hereby fully and forever releases and discharges the Company, and all predecessors and successors, assigns, stockholders, affiliates, subsidiaries,
officers, directors, trustees, employees, agents and attorneys, past and present (the Company and each such person or entity is referred to as a “Released Person”) from any and all claims, demands, liens, agreements, contracts,
covenants, actions, suits, causes of action, obligations, controversies, debts, costs, expenses, damages, judgments, orders and liabilities, of whatever kind or nature, direct or indirect, in law, equity or otherwise, whether known or unknown,
arising through the date of this Release, out of the Executive’s employment by the Company or the termination thereof, including, but not limited to, any claims for relief or causes of action under the Age Discrimination in Employment Act, 29
U.S.C. § 621 et seq., or any other federal, state or local statute, ordinance or regulation regarding discrimination in employment and any claims, demands or actions based upon alleged wrongful or retaliatory discharge or breach of
contract under any state or federal law. 

  
 B-1

  

	 	(b)	The Executive expressly represents that he has not filed a lawsuit or initiated any other administrative proceeding against a Released Person and that he has not
assigned any claim against a Released Person. The Executive further promises not to initiate a lawsuit or to bring any other claim against the other arising out of or in any way related to the Executive’s employment by the Company or the
termination of that employment. This Release will not prevent the Executive from filing a charge with the Equal Employment Opportunity Commission (or similar state agency) or participating in any investigation conducted by the Equal Employment
Opportunity Commission (or similar state agency); provided, however, that any claims by the Executive for personal relief in connection with such a charge or investigation (such as reinstatement or monetary damages) would be barred.

  

	 	(c)	The foregoing will not be deemed to release the Company from (i) claims to enforce Section 3 of the Agreement, (ii) claims for vested benefits under
Section 3.4.2(c)(i) of Part I of the FMC Corporation Employees’ Retirement Program, (iii) claims for vested benefits under the terms of the FMC Corporation Salaried Employees’ Equivalent Retirement Plan and the FMC Corporation
Non-Qualified Savings and Investment Plan, or (iv) claims for indemnification under the Company’s By-Laws, including access to such FMC Directors and Officers Liability Insurance Policies as may be necessary and appropriate to satisfy such
indemnification obligations. 

  

	3.	Restrictive Covenants. The Executive acknowledges that restrictive covenants contained in Section 6 of the Agreement will survive the termination of his
employment. The Executive affirms that those restrictive covenants are reasonable and necessary to protect the legitimate interests of the Company, that he received adequate consideration in exchange for agreeing to those restrictions and that he
will abide by those restrictions. 

  

	4.	Non-Disparagement. The Executive agrees not to disparage any Released Person or otherwise take any action which could reasonably be expected to adversely affect
the personal or professional reputation of any Released Person, and the Company, acting through its directors and officers, likewise agrees not to disparage The Executive. 

 

	5.	Cooperation. The Executive further agrees that, subject to reimbursement of his reasonable expenses, he will cooperate fully with the Company and its counsel
with respect to any matter (including litigation, investigations, or governmental proceedings) in which the Executive was in any way involved during his employment with the Company. The Executive agrees to render such cooperation in a timely manner
on reasonable notice from the Company. 

  

	6.	Rescission Right. The Executive expressly acknowledges and recites that (a) he has read and understands the terms of this Release in its entirety,
(b) he has entered into this Release knowingly and voluntarily, without any duress or coercion; (c) he has been advised orally and is hereby advised in writing to consult with an attorney with respect to this Release before signing it;
(d) he was provided 21 calendar days after receipt of the Release to consider its terms before signing it; and (e) he is provided seven calendar days from the date of signing to terminate and revoke this Release, in which case this Release
shall be unenforceable, null and void. The Executive may revoke this Release during those seven days by providing written notice of revocation to the Company at the address set forth in the Agreement. If the Executive revokes this Release, he
will forfeit the payments, rights and benefits described in Section 3 of the Agreement and will not be entitled to any other severance benefits. 

  
 B-2

  

	7.	Challenge. If the Executive violates or challenges the enforceability of any provisions of the Agreement or this Release, no further payments, rights or benefits
under Section 3 of the Agreement will be due to him. 

  

	8.	Miscellaneous. 

  

	 	(a)	Release Binding on Successors. This Release will be binding on the Executive and his executors, representatives, administrators and heirs.

  

	 	(b)	Intended Third Party Beneficiaries. This Release will inure to the benefit of the Company, as well as the other Released Persons, each of whom is an intended
third party beneficiaries of this Release. 

  

	 	(c)	Severability. Whenever possible, each provision of this Release will be interpreted in such manner as to be effective and valid under applicable law. However, if
any provision of this Release is held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability will not affect any other provision, and this Release will be reformed, construed and enforced as though
the invalid, illegal or unenforceable provision had never been herein contained. 

  

	 	(d)	Governing Law. This Release shall be governed by, and enforced in accordance with, the laws of the State of Delaware, without regard to the application of the
principles of conflicts of laws. 

 IN WITNESS WHEREOF, the Executive has executed this Release on the day and
year first above written. 
  

	
	THEODORE BUTZ
	
	  

  
 B-3

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